# EDGAR Filing Document

**Accession Number:** 0001699963
**File Stem:** 0001628280-26-032523
**Filing Date:** 2026-5
**Character Count:** 3339638
**Document Hash:** 494bd8852626d897a88d592ac7a484b9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-26-032523.hdr.sgml**: 20260508

**ACCESSION NUMBER**: 0001628280-26-032523

**CONFORMED SUBMISSION TYPE**: S-1

**PUBLIC DOCUMENT COUNT**: 80

**FILED AS OF DATE**: 20260508

**DATE AS OF CHANGE**: 20260507

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Neutron Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001699963
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 814870517
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-1
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-295679
- **FILM NUMBER:** 26955790

**BUSINESS ADDRESS:**
- **STREET 1:** 85 2ND ST
- **STREET 2:** SUITE 750
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** 415-449-4139

**MAIL ADDRESS:**
- **STREET 1:** 85 2ND ST
- **STREET 2:** SUITE 750
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**As filed with the U.S. Securities and Exchange Commission on May 7, 2026.**

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

**Neutron Holdings, Inc.**

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

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| | | |
|:---|:---|:---|
| **Delaware** | **7372** | **81-4870517** |
| **(State or other jurisdiction of**<br>**incorporation or organization)** | **(Primary Standard Industrial**<br>**Classification Code Number)** | **(I.R.S. Employer** <br>**Identification Number)** |

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**85 2**<sup>nd</sup> **Street, Suite 750**

**San Francisco, California 94105**

**(415) 449-4139**

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

**Wayne Ting**

**Chief Executive Officer**

**85 2**<sup>nd</sup> **Street, Suite 750**

**San Francisco, California 94105**

**(415) 449-4139**

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

***Copies to****:*

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| | | |
|:---|:---|:---|
| **Tad J. Freese**<br>**Sarah B. Axtell**<br>**Latham & Watkins LLP**<br>**801 Jefferson Ave**<br>**Redwood City, CA 94063**<br>**(650) 328-4600** | **Susie Giordano**<br>**Luke Rachlin**<br>**Daniel Yao**<br>**T. Mitchell Hughes**<br>**Neutron Holdings, Inc.**<br>**85 2**<sup>nd</sup> **Street, Suite 750**<br>**San Francisco, California 94105**<br>**(415) 449-4139** | **Alan F. Denenberg**<br>**Elizabeth W. LeBow**<br>**Davis Polk & Wardwell LLP**<br>**900 Middlefield Road**<br>**Redwood City, California 94063**<br>**(650) 752-2000** |

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**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, 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 Exchange Act.

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

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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 of 1933, 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 it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.

SUBJECT TO COMPLETION, DATED&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2026

**PRELIMINARY PROSPECTUS**

![limelogo1.jpg](limelogo1.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares

**Neutron Holdings, Inc.**

Common Stock

$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share

This is the initial public offering of our common stock. Prior to this offering, there has been no public market for the common stock. We are selling &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock. We currently expect the initial public offering price to be between $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share of common stock.

We intend to grant the underwriters an option to purchase up to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; additional shares of our common stock.

We intend to apply to list our common stock on The Nasdaq Global Select Market ("Nasdaq") under the symbol "LIME." This offering is contingent upon approval of the listing of our common stock on Nasdaq.

We are an "emerging growth company" as defined under the federal securities laws and, as such, have elected to comply with certain reduced public company reporting requirements for this prospectus and future filings.

**Investing in our common stock involves risks. See the section titled "<u>[Risk Factors](#i2daaa9faa0b24be68f6320125a1b1051_4019)</u>" beginning on page <u>[16](#i2daaa9faa0b24be68f6320125a1b1051_4019)</u> to read about risk factors you should consider before deciding to invest in our common stock.**

Neither the Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

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| | | |
|:---|:---|:---|
| | **Per Share** | **Total** |
| Initial public offering price | $| $|
| Underwriting discounts and commissions<sup>(1)</sup> | $| $|
| Proceeds to us (before expenses) | $| $|

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_______________

(1)See the section titled "<u>[Underwriting](#i2daaa9faa0b24be68f6320125a1b1051_3674)</u>" for a description of the compensation payable to the underwriters.

The underwriters expect to deliver the shares to purchasers on or about &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2026 through the book-entry facilities of The Depository Trust Company.

---

| | | |
|:---|:---|:---|
| **Goldman Sachs & Co. LLC** | **J. P. Morgan** | **Jefferies** |
| **Evercore ISI** | **Citizens Capital Markets** | **KeyBanc Capital Markets** |

---

---

| | |
|:---|:---|
| **Needham & Company** | **William Blair** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2026

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**TABLE OF CONTENTS**

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| | |
|:---|:---|
| | **Page** |
| <u>[C](#i2daaa9faa0b24be68f6320125a1b1051_5569)[EO L](#i2daaa9faa0b24be68f6320125a1b1051_5569)[ETTER](#i2daaa9faa0b24be68f6320125a1b1051_5569)</u> | <u>[iii](#i2daaa9faa0b24be68f6320125a1b1051_5569)</u> |
| <u>[PROSPECTUS SUMMARY](#i2daaa9faa0b24be68f6320125a1b1051_4058)</u> | <u>[1](#i2daaa9faa0b24be68f6320125a1b1051_4058)</u> |
| <u>[THE OFFERING](#i2daaa9faa0b24be68f6320125a1b1051_4045)</u> | <u>[9](#i2daaa9faa0b24be68f6320125a1b1051_4045)</u> |
| <u>[SUMMARY CONSOLIDATED FINANCIAL DATA](#i2daaa9faa0b24be68f6320125a1b1051_4032)</u> | <u>[12](#i2daaa9faa0b24be68f6320125a1b1051_4032)</u> |
| <u>[RISK FACTORS](#i2daaa9faa0b24be68f6320125a1b1051_4019)</u> | <u>[16](#i2daaa9faa0b24be68f6320125a1b1051_4019)</u> |
| <u>[SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS](#i2daaa9faa0b24be68f6320125a1b1051_3990)</u> | <u>[74](#i2daaa9faa0b24be68f6320125a1b1051_3990)</u> |
| <u>[MARKET AND INDUSTRY DATA](#i2daaa9faa0b24be68f6320125a1b1051_3969)</u> | <u>[77](#i2daaa9faa0b24be68f6320125a1b1051_3969)</u> |
| <u>[USE OF PROCEEDS](#i2daaa9faa0b24be68f6320125a1b1051_3948)</u> | <u>[78](#i2daaa9faa0b24be68f6320125a1b1051_3948)</u> |
| <u>[DIVIDEND POLICY](#i2daaa9faa0b24be68f6320125a1b1051_3927)</u> | <u>[79](#i2daaa9faa0b24be68f6320125a1b1051_3927)</u> |
| <u>[CAPITALIZATION](#i2daaa9faa0b24be68f6320125a1b1051_3906)</u> | <u>[80](#i2daaa9faa0b24be68f6320125a1b1051_3906)</u> |
| <u>[DILUTION](#i2daaa9faa0b24be68f6320125a1b1051_3885)</u> | <u>[83](#i2daaa9faa0b24be68f6320125a1b1051_3885)</u> |
| <u>[MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#i2daaa9faa0b24be68f6320125a1b1051_389)</u> | <u>[87](#i2daaa9faa0b24be68f6320125a1b1051_389)</u> |
| <u>[BUSINESS](#i2daaa9faa0b24be68f6320125a1b1051_3842)</u> | <u>[126](#i2daaa9faa0b24be68f6320125a1b1051_3842)</u> |
| <u>[MANAGEMENT](#i2daaa9faa0b24be68f6320125a1b1051_3821)</u> | <u>[165](#i2daaa9faa0b24be68f6320125a1b1051_3821)</u> |
| <u>[EXECUTIVE AND DIRECTOR COMPENSATION](#i2daaa9faa0b24be68f6320125a1b1051_3800)</u> | <u>[173](#i2daaa9faa0b24be68f6320125a1b1051_3800)</u> |
| <u>[CERTAIN RELATIONSHIPS AND RELATED-PARTY TRANSACTIONS](#i2daaa9faa0b24be68f6320125a1b1051_3779)</u> | <u>[188](#i2daaa9faa0b24be68f6320125a1b1051_3779)</u> |
| <u>[PRINCIPAL](#i2daaa9faa0b24be68f6320125a1b1051_3758)[STOCKHOLDERS](#i2daaa9faa0b24be68f6320125a1b1051_3758)</u> | <u>[193](#i2daaa9faa0b24be68f6320125a1b1051_3758)</u> |
| <u>[DESCRIPTION OF SECURITIES](#i2daaa9faa0b24be68f6320125a1b1051_3737)</u> | <u>[196](#i2daaa9faa0b24be68f6320125a1b1051_3737)</u> |
| <u>[SHARES ELIGIBLE FOR FUTURE SALE](#i2daaa9faa0b24be68f6320125a1b1051_3716)</u> | <u>[205](#i2daaa9faa0b24be68f6320125a1b1051_3716)</u> |
| <u>[MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS](#i2daaa9faa0b24be68f6320125a1b1051_3695)</u> | <u>[208](#i2daaa9faa0b24be68f6320125a1b1051_3695)</u> |
| <u>[UNDERWRITING](#i2daaa9faa0b24be68f6320125a1b1051_3674)</u> | <u>[212](#i2daaa9faa0b24be68f6320125a1b1051_3674)</u> |
| <u>[LEGAL MATTERS](#i2daaa9faa0b24be68f6320125a1b1051_3653)</u> | <u>[221](#i2daaa9faa0b24be68f6320125a1b1051_3653)</u> |
| <u>[E](#i2daaa9faa0b24be68f6320125a1b1051_4602)[XPERTS](#i2daaa9faa0b24be68f6320125a1b1051_4602)</u> | <u>[221](#i2daaa9faa0b24be68f6320125a1b1051_4602)</u> |
| <u>[WHERE YOU CAN FIND ADDITIONAL INFORMATION](#i2daaa9faa0b24be68f6320125a1b1051_4615)</u> | <u>[221](#i2daaa9faa0b24be68f6320125a1b1051_4615)</u> |
| <u>[INDEX TO CONSOLIDATED FINANCIAL STATEMENTS](#i2daaa9faa0b24be68f6320125a1b1051_312)</u> | <u>[F-1](#i2daaa9faa0b24be68f6320125a1b1051_312)</u> |

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**Through and including &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2026 (the 25th day after the date of this prospectus), all dealers that buy, sell or trade shares of our common stock, whether or not participating in this offering, may be required to deliver a prospectus. This delivery requirement is in addition to the obligation of dealers to deliver a prospectus when acting as underwriters and with respect to their unsold allotments or subscriptions.**

As used in this prospectus, unless the context otherwise requires, references to "Lime," the "company," "we," "us," "our" and similar terms refer to Neutron Holdings, Inc. and, where appropriate, its subsidiaries, taken as a whole.

"Lime," the Lime logos and other trade names, trademarks, or service marks of Lime appearing in this prospectus are the property of Neutron Holdings, Inc. Other trade names, trademarks or service marks appearing in this prospectus are the property of their respective holders. Solely for convenience, trade names, trademarks, and service marks referred to in this prospectus 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 that the applicable owner will not assert its rights, to these trade names, trademarks, and service marks.

i

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Numerical figures included in this prospectus have been subject to rounding adjustments. Accordingly, numerical figures shown as totals in various tables may not be arithmetic aggregations of the figures that precede them.

References to www.li.me in this prospectus are inactive textual references only, and the information contained on, or that can be accessed through, our website does not constitute part of this prospectus.

We have not, and the underwriters have not, authorized anyone to provide you any information or to make any representations other than those contained in this prospectus or in any free writing prospectus prepared by or on behalf of us or to which we have referred you. Neither we nor the underwriters take responsibility for, or provide any assurance as to the reliability of, any other information others may give you. This prospectus is an offer to sell only the shares offered hereby, and only under circumstances and in jurisdictions where it is lawful to do so. We are not, and the underwriters are not, making an offer to sell these securities in any jurisdiction where the offer or sale is not 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 any sale of the shares of our common stock. Our business, financial condition, results of operations and prospects may have changed since that date.

For investors outside the United States: We have not, and the underwriters have not, done anything that would permit this offering or the possession or distribution of this prospectus or any free writing prospectus in connection with this offering in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of the shares of our common stock and the distribution of this prospectus outside the United States. See the section titled "Underwriting" for additional information.

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v

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**PROSPECTUS SUMMARY**

*This summary highlights selected information contained elsewhere in this prospectus. This summary does not contain all of the information that you should consider before deciding to invest in our common stock. You should read this entire prospectus carefully, including the sections titled "Risk Factors," "Special Note Regarding Forward-Looking Statements," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Business," and our consolidated financial statements and related notes included elsewhere in this prospectus before making an investment decision.* 

**Overview**

Lime is the largest global shared micromobility business. We are on a mission to build a future where transportation is shared, affordable, and carbon-free.

Lime provides convenient and reliable short-term rentals of e-scooters and e-bikes at an affordable price. As of December 31, 2025, we operated in approximately 230 cities<sup>1</sup> across 29 countries<sup>2</sup>. In 2025, we delivered a seamless rider experience to approximately 19 million riders. Our market leadership and scale have made Lime a widely recognized brand — valued by riders for our availability and trusted by cities for our operating track record. This leadership and scale have also yielded favorable unit economics, enabling us to continue investing in our growth.

Lime has revolutionized the shared micromobility industry through our vertically integrated platform, which combines our proprietary hardware and software, data, tech-enabled operations, and government relations expertise. Our vertical integration allows us to maintain control of key aspects of our service and is designed to accelerate rider adoption, boost usage frequency, facilitate regulatory compliance, and optimize cost efficiency — fueling sustainable growth while solidifying trusted partnerships with cities and positioning us as a leader in the shared micromobility industry.

Our platform creates a self-reinforcing, virtuous network effect that aligns value for riders and city priorities: more riders using our service enables cities to meet their local policy goals faster, which encourages cities to expand shared micromobility programs and invest in additional infrastructure, which in turn enhances the rider experience and attracts even more riders. What started as convenience enjoyed by individual riders has, through our platform, reshaped how people move around cities, which demonstrates that shared micromobility isn't just viable but can be an essential component of urban life.

The extensive presence of our electric vehicles in cities around the world has established our brand with the public, reinforcing our leadership position in the shared micromobility industry. Each of our e-scooters and e-bikes serves as mobile advertisements within the cities in which we operate, continuously reinforcing brand recognition. Our reach is further amplified through our network partnerships, including our mutually exclusive partnership with Uber. Lime vehicles are featured as a ride option within the Uber app in nearly all of our shared markets, providing Lime with direct access to Uber's global user base. Revenue generated through our partnership with Uber was approximately 14.1%, 15.8%, and 14.3% of total revenue in 2023, 2024, and 2025, respectively, and was approximately 14.0% for the three months ended March 31, 2026.

We believe our platform, combined with our global scale, market leadership, brand awareness, efficient operating model, and network partnerships creates significant competitive advantages, which has positioned us as a leader in the shared micromobility industry, has fueled sustained growth over time, and

<sup>1</sup>&nbsp;&nbsp;&nbsp;&nbsp; As used in this prospectus, a "city" may refer to a metropolitan area that may be a city or could include regions outside of city limits or in defined areas of operation within a metropolitan area.

<sup>2</sup>&nbsp;&nbsp;&nbsp;&nbsp; The principal countries we have operated in are the United States, the United Kingdom, and France from which we generated 33%, 15%, and 11% of total revenue, respectively, in 2023, 34%, 21%, and 10%, respectively, in 2024, 32%, 22%, and 10%, respectively, in 2025, and 29%, 23%, and 8%, respectively, in the three months ended March 31, 2026.

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has contributed to our significant market share. We calculate our market share primarily using data for monthly active app users ("MAAUs") from Sensor Tower (as defined below) for each of the countries we operated in and supplementing with publicly available information and our internal data. For the year ended December 31, 2025, our market share across both docked and dockless shared micromobility operators was approximately 27% across the countries we operated in, representing a 1% increase from the prior year and nearly three times the market share of the next largest operator by MAAUs, and 37% in the United States, representing a 4% increase from the prior year. When focusing solely on dockless shared micromobility operators, our market share was approximately 35% across the countries we operated in and 48% in the United States, representing a 2% and 6% increase from the prior year, respectively.

Our financial performance demonstrates the resilience and strength of our platform. In 2023, 2024, and 2025, we generated revenue of $522.0 million, $686.6 million, and $886.7 million, respectively, representing year-over-year growth of 32% and 29%. In the same periods, we recorded gross profit of $169.2 million, $281.1 million, and $345.4 million, respectively, representing year-over-year growth of 66% and 23%, and Adjusted Gross Profit of $276.3 million, $368.6 million, and $467.2 million, respectively, representing year-over-year growth of 33% and 27%. In 2023, 2024, and 2025, we had net losses of $122.4 million, $33.9 million, and $59.3 million, respectively. In 2023, 2024, and 2025, we recorded Adjusted EBITDA of $99.8 million, $153.4 million, and $218.1 million, respectively, representing year-over-year growth of 54% and 42%, and operating (loss) income of $(24.6) million, $47.0 million, and $70.4 million, respectively.

In the three months ended March 31, 2025 and March 31, 2026, we generated revenue of $129.0 million and $170.2 million, respectively, representing year-over-year growth of 32%. In the same periods, we recorded gross profit of $28.9 million and $44.6 million, respectively, representing year-over-year growth of 54%, and Adjusted Gross Profit of $56.5 million and $74.2 million, respectively, representing year-over-year growth of 31%. In the three months ended March 31, 2025 and March 31, 2026, we had net losses of $56.0 million and $61.3 million, respectively. In the three months ended March 31, 2025 and March 31, 2026, we recorded Adjusted EBITDA of $2.1 million and $7.5 million, respectively, representing year-over-year growth of 250%, and operating losses of $31.4 million and $29.0 million, respectively.

For a reconciliation of Adjusted Gross Profit and Adjusted EBITDA to the most directly comparable GAAP financial measures, information about why we consider Adjusted Gross Profit and Adjusted EBITDA useful, and a discussion of the limitations of these measures, please see the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures."

**The Shared Micromobility Industry**

Shared micromobility facilitates short-distance urban travel, typically under five miles, using shared lightweight vehicles like e-scooters and e-bikes.

The shared micromobility industry emerged in the mid-2000s with the introduction of government-sponsored dock-based bike-share systems in major cities, which established the foundation for shared micromobility but also exposed key constraints. The limitations of traditional docked systems spurred significant breakthroughs in shared micromobility resulting in the emergence of the modern micromobility industry in 2017, driven by technological advancements in smartphones, GPS tracking, IoT connectivity, and batteries.

With the majority of journeys relying on cars and public transportation globally, and travel and tourism driving an estimated $11 trillion in annual global spending in 2024 according to the World Travel and Tourism Council, shared micromobility has emerged as a critical solution for two of urban mobility's largest and most impactful opportunities: Commuting and Tourism. Commuters can reduce travel time, eliminate parking costs, and bridge the first- and last-mile gap between transit stations and destinations. Tourists can embrace shared micromobility as an immersive way to explore cities while having fun.

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**Our Market Opportunity**

We believe we are in the early innings of a multi-decade opportunity. The modern era of app-enabled "free-floating" systems — meaning e-scooters or e-bikes that are dockless and can be parked in a variety of locations — only recently began in 2017 and has grown rapidly since, spurred by significant technological breakthroughs and business evolution.

The continued growth and evolution of micromobility is a result of a number of secular tailwinds driven by evolving consumer priorities and broad government support. Consumers want to save time, save money and enjoy transportation options that offer more than just utility. We further believe that the increase in shared micromobility adoption is driven in part by a demographic shift, with younger generations showing less interest in driving. In addition, many governments have a mandate to accommodate increasing urbanization and to reduce car congestion and carbon emissions.

We view our opportunity in terms of our serviceable addressable market opportunity ("SAM"), which we believe we can address today, and our total addressable market opportunity ("TAM"), which we believe we can address over the long term.

We estimate our SAM to be approximately $6.1 billion. Our SAM of $6.1 billion reflects current micromobility adoption of approximately 15% of addressable riders within our existing cities. However, we see that in our more mature markets, the industry has reached adoption levels in the range of 30-40% among the addressable population. We believe there is potential to reach these levels of adoption across our existing cities, which would imply a SAM opportunity of approximately $12.0 billion at 30% adoption among our addressable population.

To arrive at our TAM from our SAM, we expand the aperture of cities to include those we have identified as expansion opportunities within the next five years. At an adoption rate of 30% of people in our addressable population within this expanded set of cities, our market opportunity would be $22.0 billion. If we further assume full adoption by people in our addressable population within each city, we estimate our TAM to be approximately $69.1 billion.

**Lime's Vertically Integrated Platform**

Lime's platform combines proprietary hardware and software, data, tech-enabled operations, and government relations expertise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Proprietary Hardware:</u> At the core of our platform is our electric vehicle fleet, which includes proprietary e-scooters, e-bikes, and seated e-scooters, all available through our proprietary Rider App, enabling a free-floating model that offers flexible mobility options for riders and cities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Software:</u> Our proprietary technology stack consists of three interconnected systems: the Rider App, the Lime Supply App, and an IoT-enabled hardware system that connects our fleet to both the Rider App and the Lime Supply App. The Rider App facilitates the trip experience for riders. Lime's operations workforce uses the Lime Supply App to manage and maintain our fleet. Our IoT system continuously monitors vehicle locations around the world, vehicle health, and operational metrics through embedded sensors and other technology.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Data:</u> Data acquisition and analysis is a key pillar of our platform. We use data from our Rider App along with vehicle telemetry data to support vehicle demand forecasting and optimize hardware designs. Data is also a strategic asset for our operations workforce, enabling us to optimize efficiency and responsiveness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Tech-Enabled Operations:</u> Our global operations are supported by employees, logistics providers, and contingent workers, all of whom leverage technology and data to drive efficiency and enhance the rider experience. Maintenance, deployment, charging, repositioning, and retrieval of our fleet are carried out through these combined resources.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Government Relations Expertise:</u> Our dedicated government relations and local customer service teams collaborate closely with cities, combining our operational expertise with deep local knowledge and in-depth discussions with key city officials to secure permits and deliver actionable insights informed by our extensive anonymized dataset.

**Providing an Exceptional Rider Experience**

We offer our riders exceptional value by delivering a reliable, easy, and convenient experience. Our commitment to improving short-distance travel and expanding availability helped foster a broad base of loyal riders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reliability:</u> We are focused on providing a reliable and convenient transportation solution for our riders, with dependable access to well-maintained vehicles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Ease of Use:</u> We are focused on providing a fast and intuitive journey, from vehicle location to trip completion, for our riders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Comfort:</u> Our vehicle design prioritizes rider comfort. Our latest models feature tuned acceleration curves designed to keep rides smooth for enhanced balance and reduced strain, ergonomic handlebars designed to reduce fatigue especially for longer rides, and well-designed, intuitive controls.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Trust:</u> Riders trust Lime as a safe and dependable choice for daily travel. We prioritize safety in vehicle design and manufacture, while our Rider App helps bolster rider confidence through riding tutorials and city-specific regulations or safety guidelines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Fun:</u> Lime offers riders a joyful way to explore neighborhoods and cities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Affordability:</u> We are focused on providing good value to our riders through various pricing plans that specifically fit riders' travel needs, be it daily commutes or exploring new cities on vacation.

**Lime's Value Proposition to Cities**

We believe that our success is intrinsically linked to the success of the cities we serve. We strive to be a trusted partner, providing solutions that seek to address the core priorities of our city partners, including reducing congestion, expanding affordable transit access, and lowering emissions. We provide value to cities by offering:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Expanded Transportation Access and Efficiency:</u> We are focused on expanding access to transportation by providing first- and last-mile connectivity and filling gaps where city services may not exist or operate with limited availability during off-peak hours.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Multimodal Fleet Reaching More Riders:</u> We provide cities with a 'one-stop shop' fleet of electric vehicles that can address a variety of urban transportation challenges.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reduced Congestion:</u> Our shared micromobility fleet enables cities to ease the strain on overburdened city roads, from daily rush hours to major events like concerts and sporting events.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Progress Towards Sustainability Goals:</u> Lime's shared micromobility vehicles offer a sustainable alternative, producing zero tailpipe emissions compared to about 400g of carbon dioxide per mile for the average car according to the Environmental Protection Agency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Compliant and Well-Organized Operations:</u> We design our hardware, location accuracy technology, and operational strategy to comply with local city requirements.

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**Lime's Competitive Advantages**

The combination of our vertically integrated platform, scale, market leadership, brand awareness, efficient operating model, and network partnerships all work together to create competitive advantages for our business. Together, they have contributed to our position as a leader in the shared micromobility industry and positioned us for growth.

Lime's platform is designed to optimize the rider experience. Our platform seamlessly integrates government relations expertise that helps win us the right to serve a city with hardware, software, and data that drive topline growth and margin through an understanding of rider preferences and optimized vehicle availability. The result is a virtuous cycle where each component enhances the whole, creating operational advantages that strengthen progressively with scale.

Lime's scale provides numerous benefits. Riders tend to gravitate to micromobility operators with the most city-wide vehicle availability, enabling Lime to become a preferred choice for shared micromobility in numerous cities where we operate. Scale expands our visibility and availability, which has supported our brand awareness with the public, positioning Lime as a go-to-choice for shared micromobility while reducing the amount spent on customer acquisition costs. In 2025, we spent approximately 2% of our revenue on marketing expenses.

Lime's scale also enables a highly-efficient operating model, which optimizes resource allocation and reduces the cost to serve our riders. Our model also allows us to adjust operational costs to match rider demand, reducing fixed costs and allowing us to adapt to changing market conditions. Our technology allows prioritization of tasks with the greatest return on investment and vehicle positioning to increase rider convenience, while scale brings density that reduces the cost of in-field operations.

Lastly, we benefit from a mutually exclusive partnership with Uber that allows Lime vehicles to be featured as a ride option within the Uber app in nearly all of our shared markets, providing us with direct access to Uber's global user base. This integration acts as a highly efficient rider acquisition channel.

**Growth Strategies**

We believe Lime has significant room to grow our share and expand the shared micromobility market. We intend to grow through:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Deepen Presence in Existing Cities:</u> We aim to grow the size of our existing fleet, which already operates in approximately 230 cities, by leveraging our existing infrastructure. Our strong partnership and long-standing operating track record with cities enable us to grow our fleet caps under city permits, as demonstrated by our 116% operational fleet retention rate in 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reach New Cities and Countries:</u> Many cities around the world still lack shared micromobility as a transportation option, and several secular trends support our expectation for continued adoption. We entered into 19 new cities in 2025 and intend to pursue opportunities to launch our fleet in more cities, with a focus on metropolitan areas we believe will have a high return on investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Increase Engagement of Existing Riders:</u> We believe that one of our greatest opportunities is increasing engagement and securing additional trips from our existing riders. In the past, we have increased engagement by introducing prepaid bundles and subscription programs like LimePass and LimePrime, respectively, to cater to riders who could more frequently use Lime vehicles. These programs are designed to incentivize our riders to take more trips and convert casual riders into routine riders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Launch New and Improved Products and Services:</u> Innovation is at the core of how Lime operates, and we have a dedicated research and development team that iterates on vehicle design and features to continuously improve our existing fleet. This team also evaluates new

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modes of transportation for future launch. With each new generation of vehicles, we have enhanced our modular design to unlock additional use cases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Expand Partnerships:</u> We continue to evaluate strategic commercial partnerships to expand our market reach and broaden our rider base. As part of this initiative, we are piloting programs to support corporate campuses and exploring potential programs with higher education campuses. In addition, we are exploring potential partnerships with food delivery services to offer tailored access to our fleet through daily or weekly passes for couriers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Strategic Acquisitions:</u> We employ a disciplined approach to potential acquisitions, carefully evaluating opportunities that could strengthen our platform, increase the diversity of our vehicle platforms, and extend Lime's reach into new cities.

**Uber Extended Lock-Up**

In connection with the Uber Integration Agreement (as defined below), we entered into a lock-up side letter with Uber Technologies, Inc. ("Uber"), pursuant to which Uber agreed, among other things, that it will not, without our prior written consent, subject to certain customary exceptions, sell, transfer or dispose of shares of our common stock or securities convertible into shares of our common stock held by Uber as of immediately prior to this offering, subject to certain staggered releases taking place over two years from the date of this prospectus. The lock-up side letter would terminate if the Uber Integration Agreement is terminated. For more information, see the section titled "Certain Relationships and Related-Party Transactions—Uber Lock-Up".

**Risk Factors Summary**

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our limited operating history and our evolving business make it difficult to evaluate our future prospects and the risks and challenges we may encounter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We have a history of net losses and we may not be able to achieve or maintain profitability in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our revenue growth rate and financial performance in recent periods may not be indicative of future performance and such revenue growth rate may slow over time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If we fail to effectively manage or continue our growth, our business, financial condition, results of operations, and prospects could be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our business depends in large part on securing permits to operate. Our inability to obtain or renew permits could adversely affect our business, financial condition, results of operations, and prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our business depends on retaining permits to operate and our inability to retain permits or comply with the terms of permits could adversely affect our business, financial condition, results of operations, and prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our operations have historically varied from period-to-period and are seasonal and dependent on weather. Our financial performance in certain periods may not be indicative of, or comparable to, our financial performance in subsequent periods.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the shared micromobility industry does not continue to grow, grows more slowly than we expect, or fails to grow as large or otherwise develop as we expect, our business, financial condition, results of operations, and prospects could be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We face intense competition and we may not be able to compete effectively, which could adversely affect our business, financial condition, results of operations, and prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our business is subject to a variety of U.S. and foreign laws, many of which are unsettled and still developing and which could subject us to claims or otherwise harm our business, financial condition, results of operations, and prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any impairment of our ability to provide a sufficient number of safe and reliable vehicles at the times and locations riders expect would undermine our network effect and adversely affect our revenue, business, financial condition, results of operations, and prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any actual or perceived cybersecurity or breach or incident could interrupt our operations, harm our brand and adversely affect our reputation, brand, business, financial condition, results of operations, and prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our reputation and brand in the cities in which we operate are important to our success, and if we are not able to maintain and continue developing our reputation and brand, our business, financial condition, results of operations, and prospects could be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If we are unable to successfully develop and market new offerings or make enhancements to our existing offerings, our business, financial condition, results of operations, prospects, and competitive position could be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If we fail to attract and continue to work with qualified logistics providers, or ensure sufficient contingent workers, our business, financial condition, results of operations, and prospects could be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We have identified a material weakness in our internal control over financial reporting and, if not timely remediated, we may not be able to accurately or timely report our financial condition or results of operations, which may adversely affect investor confidence and the price of our common stock.

**Corporate Information**

We were incorporated in January 2017 as a Delaware corporation. Our principal executive offices are located at 85 2<sup>nd</sup> Street, Suite 750, San Francisco, California 94105, and our telephone number is (415) 449-4139. Our website address is *www.li.me*. Information contained on, or that can be accessed through, our website does not constitute part of this prospectus, and the inclusion of our website address in this prospectus is an inactive textual reference only.

**Implications of Being an Emerging Growth Company**

We are an emerging growth company as defined in the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"). We will remain an emerging growth company until the earliest of: (i) the last day of the fiscal year following the fifth anniversary of the consummation of this offering; (ii) the last day of the fiscal year in which we have total annual gross revenue of at least $1.235 billion; (iii) the last day of the fiscal year in which we are deemed to be a "large accelerated filer" as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which would occur if the market value of our common stock held by non-affiliates exceeded $700.0 million as of the last business day of the second fiscal quarter of such year; or (iv) the date on which we have issued more than $1.0 billion in non-convertible debt securities during the prior three-year period. An emerging growth company may take advantage of specified reduced reporting requirements and is relieved of certain other significant

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requirements that are otherwise generally applicable to public companies. As an emerging growth company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we will avail ourselves of the exemption from the requirement to obtain an attestation and report from our independent registered public accounting firm on the assessment of our internal control over financial reporting pursuant to the Sarbanes-Oxley Act of 2002;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we will provide less extensive disclosure about our executive compensation arrangements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we will not require stockholder non-binding advisory votes on executive compensation or golden parachute arrangements.

In addition, the JOBS Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards. This provision allows an emerging growth company to delay the adoption of some accounting standards until those standards would otherwise apply to private companies. We have elected to use the extended transition period for any other 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 extended transition period. As a result, our financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates.

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**THE OFFERING**

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| | |
|:---|:---|
| Common stock offered by us | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares. |
| Option to purchase additional shares of common stock | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares. |
| 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;&nbsp;&nbsp;&nbsp;&nbsp; shares if the underwriters exercise their option to purchase additional shares of common stock in full). |
| Use of proceeds | We estimate that we will receive net proceeds from this offering of approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (or $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; if the underwriters exercise their option to purchase additional shares of common stock in full), based upon the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share of common stock, which is the midpoint of the price range set forth on the cover page of this prospectus, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us.<br>The principal purposes of this offering are to obtain additional capital to fund our operations, create a public market for our common stock, facilitate our future access to the public equity markets, and increase our visibility in the marketplace. We currently intend to use the net proceeds from this offering to repay all of the outstanding indebtedness under the Senior Secured Term Loan (as defined elsewhere in this prospectus). We intend to use the remaining net proceeds from this offering for general corporate purposes, including working capital, operating expenses and capital expenditures. We may also use a portion of the net proceeds to in-license, acquire or invest in complementary technologies, assets or intellectual property. We periodically evaluate strategic opportunities; however, we have no current commitments to enter into any such acquisitions or make any such investments. 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. |
| Risk factors | See the section titled "<u>[Risk Factors](#i2daaa9faa0b24be68f6320125a1b1051_4019)</u>" and other information included in this prospectus for a discussion of factors you should carefully consider before deciding whether to invest in our common stock. |
| Proposed Nasdaq trading symbol | "LIME" |

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The number of shares of our common stock to be outstanding after this offering is based on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our common stock outstanding as of March 31, 2026 and reflects the Transactions (as defined below), and excludes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 4,325,594,672 shares of our common stock issuable upon the exercise of outstanding stock options as of March 31, 2026, with a weighted-average exercise price of $0.0138 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 287,315,852 shares of our common stock subject to outstanding restricted stock units ("RSUs"), for which the service-based vesting condition was satisfied as of March 31, 2026 and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1,826,836,585 shares of our common stock subject to outstanding RSUs, for which the service-based vesting condition was not satisfied as of March 31, 2026 and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our common stock subject to outstanding RSUs granted subsequent to March 31, 2026, for which the service-based vesting condition will not be satisfied upon the completion of this offering and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 7,845,200 shares of our common stock issuable upon the exercise of the Preferred Stock Warrant (as defined elsewhere in this prospectus) outstanding as of March 31, 2026, which will become a warrant to purchase shares of our common stock in connection with the Transactions, with an exercise price of $0.0669 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 20,111,354 shares of our common stock issuable upon the exercise of warrants to purchase 20,111,354 shares of our common stock outstanding as of March 31, 2026, with a weighted-average exercise price of $0.0456 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• up to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock issuable upon the conversion of the aggregate principal amount of $85.0 million of the 2020 Uber Note (as defined elsewhere in this prospectus) (plus any unpaid accrued interest) outstanding as of March 31, 2026 and up to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock issuable upon conversion of the aggregate principal amount of $85.0 million of the 2020 Investor Notes (as defined elsewhere in this prospectus) (plus any unpaid accrued interest), in each case, outstanding as of March 31, 2026 at the 2020 Note Conversion Price (as defined elsewhere in this prospectus), assuming that the holders of the 2020 Uber Note and 2020 Investor Notes elect to convert their notes in full into shares of our common stock in connection with this offering as more fully described under the section titled "Description of 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; shares of our common stock reserved for future issuance under our 2026 Incentive Award Plan (the "2026 Plan"), which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part, including &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; new shares and the number of shares (i) that remain available for grant of future awards under our 2017 Stock Incentive Plan (as amended, the "2017 Plan") at the time the 2026 Plan becomes effective, which shares will cease to be available for issuance under the 2017 Plan at such time and (ii) underlying outstanding stock-based compensation awards granted under the 2017 Plan (such awards outstanding under such plans, the "Prior Plan Awards") that expire, or are cancelled, forfeited, reacquired or withheld; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock reserved for future issuance under our 2026 Employee Stock Purchase Plan (the "ESPP"), which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part.

The 2026 Plan and ESPP also provide for automatic annual increases in the number of shares reserved thereunder. See the section titled "Executive and Director Compensation—Equity Incentive Plans" for additional information.

Except as otherwise indicated, all information in this prospectus assumes or gives effect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the automatic conversion of all outstanding shares of our convertible preferred stock outstanding as of March 31, 2026 into an aggregate of 4,647,938,403 shares of our common stock, which conversion will occur immediately prior to the completion of this offering (collectively, the "Preferred Stock Conversion");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the net issuance of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock upon the automatic net exercise (based on the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share, which is the midpoint of the

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price range set forth on the cover page of this prospectus) of the remaining 2020 Warrants outstanding as of March 31, 2026, with an exercise price of $0.01 per share, which will occur immediately prior to the completion of this offering (the "2020 Warrants Net Issuance") as more fully described under the section titled "Description of Securities";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the automatic conversion of the aggregate principal amount of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of the 2021 Notes (as defined elsewhere in this prospectus) (plus any unpaid accrued interest) outstanding as of March 31, 2026 into &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock (based on the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus), which conversion will occur upon the execution of the underwriting agreement related to this offering (the "2021 Notes Conversion" and collectively with the Preferred Stock Conversion and the 2020 Warrants Net Issuance, the "Transactions") as more fully described under the section titled "Description of Securities". Each $1.00 increase in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would decrease the shares of common stock issued in the 2021 Notes Conversion by &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares, and each $1.00 decrease in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase the shares of common stock issued in the 2021 Notes Conversion by &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the adoption, filing, and effectiveness of our amended and restated certificate of incorporation and the adoption of our amended and restated bylaws, each of which will occur immediately prior to the completion of this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• no exercise of the outstanding stock options or warrants or settlement of outstanding RSUs after March 31, 2026; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• no exercise by the underwriters of their option to purchase &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; additional shares of our common stock in this offering.

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**SUMMARY CONSOLIDATED FINANCIAL DATA**

The following tables set forth our summary consolidated financial data. The summary consolidated statements of operations data for the years ended December 31, 2023, 2024, and 2025 have been derived from our audited consolidated financial statements included elsewhere in this prospectus. We have derived the summary consolidated statements of operations data for the three months ended March 31, 2025 and 2026 and the consolidated balance sheet data as of March 31, 2026 from our unaudited condensed consolidated financial statements that are included elsewhere in this prospectus. We have prepared the unaudited condensed consolidated financial statements on the same basis as the audited consolidated financial statements and have included all adjustments, consisting only of normal recurring adjustments that, in management's opinion, are necessary to state fairly the information set forth in those consolidated financial statements. Our historical results are not necessarily indicative of results that may be expected in the future and our results for the three months ended March 31, 2026 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2026 or any other period.

You should read the following summary consolidated financial data in conjunction with the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our consolidated financial statements and related notes included elsewhere in this prospectus. The summary

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consolidated financial data in this section are not intended to replace, and are qualified in their entirety by, the consolidated financial statements and related notes.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands, except share and per share amounts)*** | ***(in thousands, except share and per share amounts)*** | ***(in thousands, except share and per share amounts)*** | ***(in thousands, except share and per share amounts)*** | ***(in thousands, except share and per share amounts)*** |
| Revenue | $521983 | $686630 | $886719 | $129015 | $170150 |
| Cost of revenue<sup>(1)</sup> | 352778 | 405557 | 541272 | 100130 | 125559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 169205 | 281073 | 345447 | 28885 | 44591 |
| Costs and expenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales, general and administrative<sup>(1)</sup> | 114183 | 143726 | 169460 | 35914 | 45005 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operations and support<sup>(1)</sup> | 42642 | 48937 | 51636 | 11841 | 13391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development<sup>(1)</sup> | 37004 | 41441 | 53950 | 12552 | 15227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 193829 | 234104 | 275046 | 60307 | 73623 |
| Operating income (loss) | (24624) | 46969 | 70401 | (31422) | (29032) |
| Interest expense | (23140) | (20282) | (20626) | (5123) | (5159) |
| Other expense, net | (68511) | (56204) | (99005) | (17082) | (25239) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (116275) | (29517) | (49230) | (53627) | (59430) |
| Provision for income taxes | 6083 | 4396 | 10079 | 2337 | 1856 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(122358) | $(33913) | $(59309) | $(55964) | $(61286) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss per share attributable to common stockholders, basic and diluted<sup>(2)</sup> | $(0.02) | $(0.01) | $(0.01) | $(0.01) | $(0.01) |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted<sup>(2)</sup> | 5823152122 | 6104052166 | 6492916777 | 6327468113 | 6808690993 |
| &nbsp;&nbsp;&nbsp;&nbsp;As adjusted net loss per share attributable to common stockholders, basic and diluted (unaudited)<sup>(3)</sup> |  |  | $— |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;As adjusted weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted (unaudited) <sup>(3)</sup> |  |  |  |  |  |

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_________________

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

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Cost of revenue | $58 | $36 | $28 | $9 | $5 |
| Sales, general and administrative | 5474 | 5840 | 5888 | 1588 | 1706 |
| Operations and support | 1550 | 1697 | 1177 | 372 | 194 |
| Research and development | 4403 | 4235 | 4105 | 1183 | 737 |
| Total stock-based compensation expense | $11485 | $11808 | $11198 | $3152 | $2642 |

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(2)See <u>[Note 16](#i2daaa9faa0b24be68f6320125a1b1051_420)</u> to our audited consolidated financial statements and <u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_13194139539322)[14](#i2daaa9faa0b24be68f6320125a1b1051_13194139539322)</u> to our unaudited condensed consolidated financial statements included elsewhere in this prospectus for an explanation of the calculations of our basic and diluted net loss per common share, and the weighted-average number of shares used in the computation of the per share amounts.

(3)The unaudited as adjusted basic and diluted net loss per share have been prepared to give effect to (i) the Transactions and (ii) the settlement of the partial recourse promissory notes. The numerator in the as adjusted basic and diluted net loss per common share calculation has been adjusted to remove the gains or losses resulting from the remeasurement of the Preferred Stock Warrant and the 2021 Notes as well as the interest expense related to the 2020 Notes.

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| | | | |
|:---|:---|:---|:---|
| | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** |
| | **Actual**  | **As Adjusted**<sup>(1)(2)</sup> | **As Further Adjusted**<sup>(2)(3)</sup>  |
| | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| **Consolidated Balance Sheet Data**:  | | | |
| Cash and cash equivalents | 261302 | $| $|
| Working capital | (529012) |  |  |
| Term loan, current | 114244 |  |  |
| 2020 Notes | 209646 |  |  |
| 2021 Notes, current | 682934 |  |  |
| Convertible preferred stock | 114027 |  |  |
| Additional paid-in capital | 247952 |  |  |
| Accumulated deficit | (806462) |  |  |
| Total stockholder's equity (deficit) | (565713) |  |  |

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_______________

(1)The as adjusted consolidated balance sheet data gives effect to (i) the Transactions, and (ii) the filing and effectiveness of our amended and restated certificate of incorporation, which will occur immediately prior to the completion of this offering.

(2)The as further adjusted consolidated balance sheet data gives effect to (i) the items included in footnote (1) above, (ii) the issuance and sale of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock by us in this offering at an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us, and (iii) the application of the net proceeds from this offering to repay all of the outstanding indebtedness under the Senior Secured Term Loan as described in the section titled "Use of Proceeds."

(3)Each $1.00 increase or decrease in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase or decrease, as applicable, each of as further adjusted cash and cash equivalents, additional paid-in capital and total stockholders' equity by approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , assuming that the number of shares of common stock offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Similarly, each increase or decrease of 1.0 million shares of common stock offered by us would increase or decrease, as

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applicable, each of as further adjusted cash and cash equivalents, additional paid-in capital and total stockholders' equity by approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , assuming that the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. The as further adjusted information is illustrative only, and we will adjust this information based on the actual initial public offering price and other terms of this offering determined at pricing.

**Non-GAAP Financial Measures**

The following table summarizes certain financial measures that are not calculated and presented in accordance with GAAP ("non-GAAP financial measures"), along with the most directly comparable GAAP measure, for each period presented below. In addition to our results determined in accordance with GAAP, we believe the following non-GAAP financial measures are useful in evaluating our operating performance. We use the following GAAP and non-GAAP financial measures, collectively, to evaluate our ongoing operations and for internal planning and forecasting purposes.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** |
| Net loss | $(122358) | $(33913) | $(59309) | $(55964) | $(61286) |
| Adjusted EBITDA<sup>(1)(2)</sup> | $99844 | $153412 | $218126 | $2135 | $7481 |
| Gross profit | $169205 | $281073 | $345447 | $28885 | $44591 |
| Adjusted Gross Profit<sup>(1)(3)</sup> | $276270 | $368556 | $467152 | $56470 | $74203 |
| Gross margin (as a percentage of revenue) | 32.4% | 40.9% | 39.0% | 22.4% | 26.2% |
| Adjusted Gross Margin (as a percentage of revenue)<sup>(1)(3)</sup> | 52.9% | 53.7% | 52.7% | 43.8% | 43.6% |
| Net cash provided by (used in) operating activities | $81199 | $168953 | $214841 | $(20615) | $(22302) |
| Free Cash Flow<sup>(1)(4)</sup> | $1071 | $47301 | $103788 | $(72154) | $(79191) |

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_______________

(1)Adjusted EBITDA, Adjusted Gross Profit, Adjusted Gross Margin and Free Cash Flow are non-GAAP financial measures. For more information regarding our use of these measures and reconciliations to the most directly comparable financial measures calculated in accordance with GAAP, see the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures."

(2)Adjusted EBITDA is defined as net loss excluding interest expense, provision for income tax, depreciation and amortization, stock-based compensation, other expense, net, loss on vehicle asset disposals and market closure costs.

(3)Adjusted Gross Profit is defined as gross profit excluding depreciation and amortization.

(4)Free Cash Flow is defined as net cash provided by operating activities excluding capital expenditures for vehicle and non-vehicle assets.

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![riskfactorscover1a.jpg](riskfactorscover1a.jpg)

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**RISK FACTORS**

*Investing in our 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 related notes, before making a decision to invest in our common stock. Our business, financial condition, results of operations, and prospects could also be harmed by risks and uncertainties not currently known to us or that we currently do not believe are material. If any of the risks actually occur, our business, financial condition, results of operations, and prospects could be adversely affected. In that event, the market price of our common stock could decline, and you could lose part or all of your investment.* 

**Risks Related to Our Business and Industry** 

***Our limited operating history and our evolving business make it difficult to evaluate our future prospects and the risks and challenges we may encounter.***

We have been focused on shared micromobility since 2017, and our business continues to evolve. We regularly expand our offerings and pricing plans. This relatively limited operating history and our evolving business make it difficult to evaluate our future prospects and the risks and challenges we may encounter. These risks and challenges include, but are not limited to, our ability to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• make operating decisions and evaluate our future prospects in light of uncertainties and unknown or future business trends and factors that could significantly impact our business or cause us to alter our existing plans for the future;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• forecast financial performance, allocate resources for future growth, establish sufficient loss reserves, and manage costs effectively;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• comply with highly fragmented and evolving laws and regulations applicable to our business, including our ability to comply with requirements of existing permits or to obtain new permits to operate in a given city;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• attract and retain qualified logistics providers and engage contingent workers to support fleet operations as demand fluctuates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• hire, integrate, and retain talented employees at all levels of our organization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• manage, grow, and staff international operations, including in countries in which employees are or may become part of labor unions, work councils, or collective bargaining agreements and challenges relating to work stoppages or slowdowns;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• attract new and retain existing riders and deliver high fleet availability in a cost-effective manner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• develop, design, and contract manufacture vehicles that are safe to ride and meet rider preferences, and regulatory requirements in a cost-effective manner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• plan for and manage capital expenditures for our current and future offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• manage our supply chain and supplier relationships related to our current and future offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• anticipate and respond to macroeconomic changes and changes in the cities<sup>3</sup> in which we operate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• maintain and enhance the value of our reputation and brand;

<sup>3</sup>&nbsp;&nbsp;&nbsp;&nbsp; As used in this prospectus, a "city" may refer to a metropolitan area that may be a city or could include regions outside of city limits or in defined areas of operation within a metropolitan area.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• effectively manage our growth;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• continue to expand our geographic reach; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• successfully develop new offerings, vehicles, and other features to enhance vehicle quality, improve safety, encourage proper use, and enhance the experience of riders.

If we fail to successfully address the risks and difficulties that we face, including those associated with the challenges listed above as well as those described elsewhere in this "Risk Factors" section, our business, financial condition, results of operations, and prospects would be adversely affected. Further, because we have limited historical financial data and operate in a rapidly evolving, nascent industry, any predictions about our future revenue and expenses may not be as accurate as they would be if we had a longer operating history or operated in a more predictable industry. We have encountered in the past, and will encounter in the future, risks and uncertainties frequently experienced by growing companies with limited operating histories in rapidly changing industries. If our assumptions regarding these risks and uncertainties, which we use to plan and operate our business, are incorrect or change, or if we do not address these risks successfully, our financial performance could differ materially from our expectations and our business, financial condition, results of operations, and prospects could be adversely affected. If we fail to meet or exceed such expectations, the market price of our stock could fall substantially, and we could face costly litigation, including, for example, securities class action suits.

***We have a history of net losses and we may not be able to achieve or maintain profitability in the future.***

We have incurred net losses each year since our inception and we may not be able to achieve or maintain profitability in the future. We incurred net losses of $122.4 million, $33.9 million, $59.3 million and $61.3 million in 2023, 2024, 2025, and the three months ended March 31, 2026, respectively. Our expenses will likely increase in the future as we expand in existing and new cities, increase our sales and marketing efforts, develop and launch new offerings, and continue to invest in our business. These efforts may be more costly than we expect and may not result in increased revenue, profitability, or growth in our business. Our offerings require significant capital investments and recurring costs and expenses, including maintenance, depreciation, asset life, and asset replacement costs, and if we are not able to maintain sufficient levels of utilization of such assets or such offerings are otherwise not successful, our investments may not generate sufficient returns and our business, financial condition, results of operations, and prospects may be adversely affected. Any failure to increase our revenue sufficiently to keep pace with our investments and other costs and expenses could prevent us from achieving or maintaining profitability or positive cash flow on a consistent basis. If we are unable to successfully address these risks and challenges as we encounter them, our business, financial condition, results of operations, and prospects may be adversely affected.

***Our revenue growth rate and financial performance in recent periods may not be indicative of future performance and such revenue growth rate may slow over time.***

We have grown rapidly over the last several years, and therefore, our recent revenue growth rate and financial performance should not be considered indicative of our future performance. In 2023, 2024, and 2025, our revenue was $522.0 million, $686.6 million, and $886.7 million, respectively, representing 31.5%, and 29.1% growth year-over-year. In the three months ended March 31, 2025 and March 31, 2026, our revenue was $129.0 million and $170.2 million, respectively, representing 31.9% growth year-over-year. You should not rely on our revenue for any previous quarterly or annual period as any indication of our revenue or revenue growth to be expected in future periods. Our revenue growth rate may decline in future periods due to a number of reasons, which may include slowing demand for our offerings, increasing competition, a decrease in the growth of our overall market or market saturation, and our failure to capitalize on growth opportunities. If we are unable to generate adequate revenue growth and manage our expenses, we may continue to incur significant losses in the future, may not be able to

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achieve or maintain profitability and our business, financial condition, results of operations, and prospects could be adversely affected.

***If we fail to effectively manage or continue our growth, our business, financial condition, results of operations, and prospects could be adversely affected.***

Since 2017, we have experienced rapid growth in our business, increased rider engagement with our offerings, and expanded our geographic reach, and while we expect to continue to experience growth in the future, we may fail to effectively manage such growth or continue to grow at the same historical pace. For example, our Monthly Active Users ("MAU"), which we define as the total number of unique riders who complete at least one e-scooter or e-bike trip on our platform at least once in a given month, averaged over each month in the measurement period, grew 19% and 21% year-over-year in 2024 and 2025, respectively. This growth has placed, and may continue to place, significant demands on our management and our operational and financial infrastructure. Our ability to manage our growth effectively and to expand our fleet in existing cities and expand into new cities and countries, increase rider adoption and engagement, and integrate new technologies and acquisitions into our existing business will require us to continue to expand our operational and financial infrastructure, to invest more in our fleet and to continue to retain, attract, train, motivate and manage employees and obtain contingent workers at times of peak or increased demand. If we are unsuccessful at continuing this expansion, investment, and focus on managing our growth, the quality of our offerings could suffer, which could adversely affect our reputation and brand. Further, continued rapid growth could strain our ability to develop and improve our operational, financial, and management controls, enhance our reporting systems and procedures, obtain enough new vehicles and maintain our current vehicles to meet demand, recruit, train, and retain highly skilled employees, obtain contingent workers, and maintain rider satisfaction and regulatory compliance. Any strain on our ability to execute on these processes and goals could hinder our ability to successfully execute on our growth strategies and our ability to continue to grow our business. Further, if we do not effectively manage the growth of our business and operations, the quality of our offerings could suffer, which could adversely affect our reputation and brand, business, financial condition, results of operations, and prospects.

***Our business depends in large part on securing permits to operate. Our inability to obtain or renew permits could adversely affect our business, financial condition, results of operations, and prospects.***

Almost all of the cities in which we operate and seek to operate require a permit issued by the city. Securing permits is a necessary gateway to market entry into and continued operations in a city, and our growth depends on our ability to continue to secure permits. We have been unsuccessful in the past, and may be unsuccessful in the future, in competing for and securing permits. The majority of permits are secured following a competitive bidding process administered by cities via a "request for proposal" where typically one to three operators are selected by the city for a defined operating period. The request for proposal varies in complexity depending on the city, the sophistication of the shared micromobility program requested by the city and population density, transportation infrastructure, and local policy priorities of each city, and can address topics such as vehicle mode, fleet size, operating zones, parking rules, specific vehicle requirements, helmet use, other safety requirements, and insurance. These may include requirements that we cannot meet. Obtaining permits through the bidding process requires significant investment in fleet development, operations, policy management, an understanding of the applicable regulatory requirements, city knowledge, and relationship-building with decision-makers. In many cases, the permitting regime in a single city is multi-jurisdictional and operating in that city may require separate permits from multiple sub-jurisdictions within that city, such as municipalities, suburbs, boroughs, districts, or counties, each of which may have its own processes and requirements. These requests for proposal processes can be highly competitive, time-consuming and expensive, without any assurance that a city will select us as an operator, and failure to win or renew a permit in that city could harm our ability to sustain or grow our business.

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Our ability to compete effectively and secure a permit in these processes may be constrained by political and other factors unrelated to the viability of our offerings. Further, even if we are initially successful in securing a permit for a city, other unsuccessful bidders have in the past and may in the future challenge the results by lodging bid protests with the city which can divert resources, delay the commencement of our operations in that city, or, if we were initially successful in the bid process, result in loss of our permit. In certain situations, we may obtain a permit from another operator in the city, but terms of the permit may limit or exclude transferability and we have in the past and may in the future not be successful in executing on the transfer.

Certain terms imposed by a city in the request for proposal, including the scope of operators that may participate in the bidding process, may make it difficult for us to enter new cities or make it economically unattractive to operate in those cities. For example, some cities have implemented a blind auction component to their request for proposal process, and in those cities, competitors may bid aggressively to secure the permit, and our strategy to prioritize economic viability could limit our ability to secure a permit and operate in that city. We have chosen, and may choose to in the future, to not compete in requests for proposals in certain cities.

Deciding on the cities in which we operate and seek to operate involves judgment regarding the economic viability and the applicable regulatory and political environment of such cities. We may operate and seek to operate in cities that later prove to be less favorable than expected, or fail to prioritize cities with more favorable opportunities. We have in the past and may choose to discontinue operations in a city and/or not apply to renew a permit if we decide that the economic prospects of operating in a city no longer make it viable to do so, including in cases where the terms of the renewed permit are not as economically attractive as the terms of the prior permit. Permits are generally granted for limited durations, which varies by city, and typically must be renewed. Although some permits are renewed through an automatic extension, other permits require a separate renewal process specific to that city, which is akin to obtaining a new permit through a competitive request for proposal process. In addition, cities may reduce the number of operators for the permit renewal process, sometimes to a single operator, which reduces the chances that we may win a renewal, even if we were previously operating in such city.

Our growth also depends on our ability to secure increases in the authorized size of our fleet ("fleet caps") under existing permits during the operating period or at the time of renewal. Certain permits have fleet utilization and permit compliance as key factors in allowing increases of fleet caps under an existing permit. While we have historically successfully increased fleet caps through this process in many of the cities we have operated in, we may not be as successful in the future.

Even if we are granted permit renewals, some permits could be renewed on terms that are less favorable than those in the originally granted permit due to competition, fleet utilization, or other factors. For example, we have in the past secured permit renewals with a decrease to the fleet caps in the city, including as a result of a reallocation of total fleet cap for the city to a new operator entering the city.

If we are not successful in utilizing and expanding our fleet, rider adoption, and the number of trips taken with us may decrease. Lower levels of ridership may limit the data available to us to effectively forecast demand, reduce vehicle utilization, and impair our ability to meet permit requirements or secure fleet cap expansions. Failure to secure fleet cap increases could prevent planned expansions in existing cities, which would impact our ability to grow our business and adversely affect our business, financial condition, results of operations, and prospects.

As the requirements put forth by a city in the request for proposal vary and are weighted differently depending on the specific concerns of the particular city, we depend on dedicated government relations teams to advise on local concerns and cultivate partnerships with city decision-makers. If our government relations team is unable to build effective partnerships with cities, or is unable to demonstrate how our offerings can be adapted to address the specific local concerns and regulatory requirements of a

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particular city, our ability to secure or renew the permits to operate and expand our business, financial condition, results of operations, and prospects may be adversely affected.

***Our business depends on retaining permits to operate and our inability to retain permits or comply with the terms of permits could adversely affect our business, financial condition, results of operations, and prospects.***

Upon securing a permit and commencing operations in a city, compliance with the terms of the permit is a critical factor in maintaining the permit and increasing the likelihood of permit renewal. Cities have broad discretion in assessing our compliance with the terms of the permits, and can also revise the permit requirements during the operating period. In addition, certain of our permits include a phase-in approach, where we agree to implement certain features or offerings over time. We may not be able to evolve our offerings in compliance with such dynamic requirements of permits. For example, the terms of our permit in Chicago require that we phase-in certain technology to detect sidewalk riding and we experienced delays in rolling out such features. If cities determine that our operations are not in compliance with their requirements, as they have in the past, or revise requirements that result in our operations being out of compliance with the permit, we may not be allowed to continue to operate under the existing permit and/or we may not be successful in renewing our permit to operate, and we may be subject to fines or penalties and may need to abruptly cease our offerings to riders in that city, and our reputation, business, financial condition, results of operations, and prospects could be significantly harmed.

In addition to complying with the terms of a given permit, we are required to comply with additional and evolving regulations from local, regional, federal and foreign authorities. These may include hardware specifications regarding the size, weight, acceleration, maximum speed, braking distance, lighting, control systems, and electrical safety standards, as well as regulations related to battery safety, charging, storage, and safe handling of our vehicles or the components, or other regulations related to consumer safety like identity verification, all of which may vary by city. For example, Washington, D.C. recently introduced an age verification requirement to address the city's concerns with the reckless behavior of youths, which resulted in the need for us to implement new age verification technology on a rapid basis to respond to the new regulations. While we endeavor to operate in a manner that complies with permit and regulatory requirements of a given city and subsequent changes to such requirements, failure to comply with any of the requirements has in the past and may in the future result in adverse consequences, depending on the terms of the permit. These consequences could include fines or other penalties, limits on the use of our offerings in certain areas, or imposing other restrictions that may affect the availability of our offerings for an extended period of time or indefinitely. The terms of many of our permits also allow the city to unilaterally suspend or revoke our permit to operate with or without cause. Our offerings and vehicles could also be subject to reclassification by the city which could result in costly re-design or recall of our vehicles in the relevant markets. If we fail to retain a permit, or if a permit is unilaterally revoked, whether due to reasons that are within our control or for reasons that are outside of our control, such as a city revoking our permit without cause, an insurance carrier canceling our policies, or rider behavior failing to follow city regulations resulting in noncompliance of our permit requirements, we could be forced to shut down our existing operations in that city or forego planned expansions into new cities in the region, which would impair our ability to execute on our growth strategies and adversely affect our business, financial condition, results of operations, and prospects.

Furthermore, a city may also take actions which would cause all operators, including us, to withdraw and cease part or all shared micromobility operations in that city. For example, in 2024 permits of all e-scooter operators in Madrid, including us, were revoked by the city, and in 2023 the mayor of Paris called a referendum the result of which caused all e-scooter operators in Paris, including us, to withdraw and cease operations. Cities may also undertake actions that limit shared micromobility programs. For example, in October 2025 the city of Prague adopted a new measure that prohibited shared e-scooters from being parked anywhere in the city, which became effective in January 2026. In these situations, we have historically been allowed to continue operating e-bikes in the city.

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The foregoing risks are heightened in our concentrated markets where we generate a disproportionate share of our revenue. Unfavorable permitting actions by cities in these markets, such as adverse changes to permit terms, stricter enforcement, non-renewal, suspension, or program cessation, could have a material and adverse impact on our business, financial condition, results of operations, and prospects. Reputational issues arising in a city or cities within a concentrated market may also influence permitting or renewal decisions or trigger regulatory actions in adjacent cities, magnifying the effect.

***Our operations have historically varied from period-to-period and are seasonal and dependent on weather. Our financial performance in certain periods may not be indicative of, or comparable to, our financial performance in subsequent periods.***

Our financial results have historically varied from period-to-period and we expect that our financial results will continue to do so due to, among other things, long-term seasonality trends such as seasonal variations in travel patterns of riders, timing of our capital expenditures, short-term changes in demand due to varying, bad or extreme weather conditions or forecasts, with higher sensitivity to adverse weather (such as unexpected and/or prolonged periods of rain, hurricanes, thunderstorms, or hail during peak periods), fluctuations in demand for offerings over holiday periods and during other seasonal events, general economic conditions, and other reasons that are difficult to predict. In the majority of cities in which we operate, rider demand typically increases during the warmer and drier months in the second and third quarters and typically decreases during the colder and wetter months in the first and fourth quarters. Our revenue generally peaks in the second and third quarters whereas a majority of our capital expenditures occur in the fourth quarter during our hardware refresh cycle. This timing causes our cash flows to fluctuate and may strain our liquidity resources and impact our ability to pay unexpected expenses. Any inability to meet the heightened demand during our peak quarters, to reduce operating costs (including by effectively adjusting our labor needs) or pay for unexpected expenses during periods of low demand, or to adequately manage our cash flows in the fourth and first quarter could adversely impact our business, financial condition, results of operations, and cash flows.

While we seek to manage seasonal increases in demand by increasing our available fleet and service providers in the periods leading up to and during peak periods, we may not be successful. The risks associated with our seasonality could be increased with our entrance into new cities with unfavorable weather patterns, new seasonal trends or existing seasonal trends becoming more extreme, including as a result of climate change or otherwise, which could contribute to further fluctuations in our results of operations.

Bad weather, and forecasts of bad weather, on weekends, holidays, or other peak periods, bad weather patterns that affect a large geographical area in which we have operations, sustained bad weather patterns, and/or extreme weather events, all of which may be a result of climate change, have in the past and may in the future adversely impact the use of our vehicles, which would typically have a greater negative impact on our revenue and could disproportionately impact our results of operations.

Further, because our results of operations may vary significantly from quarter-to-quarter and year-to-year, the results of any one period should not be relied upon as an indication of future performance. Fluctuations in our results of operations may cause such results to fall below the financial guidance or other projections that we may provide to the public, or the expectations of our investors or the analysts that cover us for a particular period, which could cause the trading price of our common stock to decline and could adversely impact our business, financial condition, results of operations, and prospects.

***If the shared micromobility industry does not continue to grow, grows more slowly than we expect, or fails to grow as large or otherwise develop as we expect, our business, financial condition, results of operations, and prospects could be adversely affected.***

The shared micromobility industry has grown rapidly since we launched our business in 2017, but it is still relatively new, and it is uncertain whether market acceptance will continue to grow, stay the same, or contract. Our success will depend on a number of factors, including the willingness of consumers to

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widely adopt shared e-scooters and e-bikes across a variety of use cases, changes in consumer demographics or preferences, the regulatory environment, and general economic conditions, particularly those adversely affecting discretionary consumer spending. If the public or city officials do not perceive shared micromobility offerings as beneficial, or choose not to adopt them as a result of concerns regarding safety, impact on public spaces, longer-term behavioral and social shifts, or for other reasons, whether as a result of incidents involving our vehicles or our competitors' vehicles or otherwise, then the market for our offerings may not further develop, may develop more slowly than we expect, or may not achieve the growth potential we expect, any of which could adversely affect our business, financial condition, results of operations, and prospects.

***We face intense competition and we may not be able to compete effectively, which could adversely affect our business, financial condition, results of operations, and prospects.***

The shared micromobility industry in which we operate is intensely competitive. We compete on a global basis, and the markets in which we compete are highly fragmented. We face significant competition from existing, well-established alternatives, and in the future we expect to face new competition from market entrants. In addition, consumers have a propensity to shift to the lowest-cost or highest-quality provider, and the cost to switch between providers is low. Consumer preferences are dynamic and may shift away from shared micromobility toward alternative modes of transportation. Further, while we work to expand globally and introduce new offerings, many of our competitors remain focused on a limited number of offerings or on a narrow geographic scope, allowing them to become more well-established in specific cities and employ resources in a more targeted manner. If we fail to compete effectively on price, performance, quality, safety and availability, if our brand or reputation is harmed, or if we are unable to differentiate our offerings from our competitors, we could lose market share to our competitors, which could adversely affect our business, financial condition, results of operations, and prospects.

Within the shared micromobility industry, we primarily face competition from other shared micromobility operators, such as Bird (and Spin, which is wholly-owned by Bird), Bolt, Neuron Mobility (merged with Beam Mobility), Voi Technology, Dott (including its predecessor Tier Mobility), and HelloRide, among others, regional and local operators, subsidized municipal operators, and docked solutions operators such as those operated by Lyft. We also compete with other types or modes of transportation in a city, including traditional taxi services, public transportation, walking, and ridesharing platforms, including the emergence of autonomous vehicle platforms. Shifts in consumer preferences across these types or modes may reduce demand for shared micromobility and our vehicles in particular. We compete on a number of factors, including scale and size of our fleet and operational footprint, technology-enabled hardware and software features, the robustness, reliability, vehicle quality, safety, and comfort of our vehicles, government relationships, brand recognition, convenience, reputation, and pricing. We anticipate continued challenges from current competitors as well as from new entrants into the shared micromobility industry.

Certain of our competitors and potential competitors may have greater financial, technical, marketing, research and development, manufacturing and other resources, stronger name recognition, longer operating histories, a larger rider base, lower prices, or more supportive regulatory regimes than we do, which may be especially relevant in a particular market. They may have existing relationships or other advantages in specific cities, which could impact our ability to obtain permits in those cities. They may be able to devote greater resources to the development, promotion, and sale of services and offer lower prices and/or financial incentives in a particular market; or they may be able to anticipate and respond more quickly or effectively to evolving consumer preferences, including offering discounted services, consumer discounts and promotions, and alternative pricing plans, which may be more attractive to consumers than those that we offer. They may have greater resources to deploy towards the research, development, and commercialization of new technologies, including autonomous vehicle technology, or they may have other financial, technical, or resource advantages. Their vehicles may score better in permit proposals than our vehicles due to the use of newer or more advanced technology. They may also be able to manufacture vehicles at a lower cost than we are able to. In addition, competitors may share in

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the effective benefit of any regulatory or governmental approvals and litigation victories we may achieve, without having to incur the costs we have incurred to obtain such benefits. Our competitors may also establish cooperative or strategic relationships, or consolidate, among themselves or with local governments and other third parties that may further enhance their resources and services in any market. Our inability to compete effectively would harm our business, financial condition, results of operations, and prospects.

***Our business is subject to a variety of U.S. and foreign laws, many of which are unsettled and still developing and which could subject us to claims or otherwise harm our business, financial condition, results of operations, and prospects.***

As of December 31, 2025, we operate in approximately 230 cities across 29 countries. The regulatory framework governing the shared micromobility industry is nascent, rapidly evolving, and varies widely by market. We are subject to a variety of laws and regulations in the United States and in foreign jurisdictions, that are continuously evolving and developing and are costly to comply with, can require significant management time and effort, and can subject us to regulatory scrutiny, litigation or other claims for alleged non-compliance. In addition, regulatory schemes regarding issues related to our business model have been proposed before or have been adopted by various national, regional, and local legislative bodies and regulatory entities, both within the United States and in foreign jurisdictions. For example, in the United Kingdom, on April 29, 2026 the English Devolution and Community Engagement Bill was passed, which will augment the powers of municipal councils and other regional bodies, such as Transport for London, to license and regulate shared micromobility schemes.

Laws, regulations, and industry standards governing matters such as vehicle design and classification, e-scooter and e-bike sharing, safe handling and practices regarding lithium-ion batteries, consumer protection, product liability, artificial intelligence ("AI"), labor and employment, data privacy, cybersecurity, environmental, health and safety, electric vehicles, among others, are often complex and subject to varying interpretations, in many cases due to their lack of specificity. Many of these regimes are newly applied to the shared micromobility industry and lack established precedent or clear guidance. As a result, their application in practice may change or develop over time through judicial decisions or as new guidance or interpretations are provided by regulatory and governing bodies, such as federal, state, and local administrative agencies and standards bodies. We may be found not in compliance with any of these new or existing laws, regulations, standards and other governmental requirements. These obligations vary materially across markets, may be inconsistent among cities or countries and can be enforced inconsistently, resulting in a patchwork of requirements. In addition, these laws and regulations, or their interpretation, may also conflict with each other, and if we comply with the laws or regulations of one city, we may find that we are violating the laws or regulations of another city. Adverse changes in, or interpretations of, these laws and regulations could require us to cease or modify operations in certain markets, including reducing the size or scope of our fleet, limit rider access, implement changes to our technology or hardware, incur significant compliance and operating costs, change our business model or practices, or subject us to fines, penalties, injunctions, permit suspensions or revocations, or other enforcement actions. Additionally, difficulties complying with new or existing laws and regulations in concentrated markets may have a disproportionate adverse effect on our business.

In the event our offerings are restricted, in whole or in part, or other restrictions are imposed on our offerings, or our competitors are able to successfully penetrate new cities or countries or capture a greater share of existing cities or countries that we cannot access or where we face other restrictions, our ability to retain or increase our rider base and rider engagement may be adversely affected, we may not be able to maintain or grow our revenue as anticipated, and our business, financial condition, results of operations, and prospects would be adversely affected.

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***Any impairment of our ability to provide a sufficient number of safe and reliable vehicles at the times and locations riders expect would undermine our network effect and adversely affect our revenue, business, financial condition, results of operations, and prospects.***

Our success in a given market significantly depends on our ability to provide a sufficient number of vehicles that are safe and reliable for riders. A number of factors affect our ability to deliver our fleet, including, among other factors, our ability to obtain and maintain permits to operate in a given city, and comply with applicable regulations; our ability to maintain the performance of our vehicles, including at satisfactory battery levels; our ability to accurately predict rider demand and reposition vehicles to those locations; our ability to manage our supply chain; and our ability to protect our fleet from vandalism, theft and destruction. Availability and reliability are primary drivers of our growth, and if we fail to execute our operations successfully, the growth of our business may be harmed. We have in the past and may in the future experience issues related to the deployment and repositioning of our fleet in a manner that meets rider demand, our technology and algorithms, the maintenance of our vehicles, labor shortages, and the manufacturing of our vehicles, any of which may adversely affect our vehicle availability.

An insufficient number of serviceable vehicles in a given city or market would result in missed market opportunities, diminish the rider experience, reduce the trip and telemetry data that we use to enhance our platform intelligence and demand forecasting, and harm our reputation, any of which would decrease our network effect and weaken our financial performance. In addition, the unavailability of our fleet could impair our ability to satisfy the service-level commitments required under many of our permits, and we could be subject to fines and penalties, reduced fleet allocations during permit renewals, or permit suspensions or revocations.

If our service quality diminishes or our competitors' products achieve greater market adoption, our competitors may be able to grow more quickly than we do or capture a larger market share, which would adversely affect our revenue, business, financial condition, results of operations, and prospects.

***Any actual or perceived cybersecurity or breach or incident could interrupt our operations, harm our brand and adversely affect our reputation, brand, business, financial condition, results of operations, and prospects.***

We and certain of our third-party providers collect, store, transmit, and otherwise process personal data and other sensitive data from our riders and members of our workforce. Additionally, we and certain of our third-party providers maintain other confidential, proprietary, or otherwise sensitive information relating to our business, including intellectual property, and similar information received from third parties.

We face numerous and evolving cybersecurity risks that threaten the confidentiality, integrity, and availability of our systems from diverse threat actors, such as state-sponsored organizations, opportunistic hackers, and hacktivists. Such threat actors may gain unauthorized access to our systems or facilities or those of our workforce, partners, logistics providers, contingent workers, riders, or others through various means, including malware (including ransomware), malfeasance by insiders, human or technological error, bugs, other vulnerabilities. They may also attempt to fraudulently induce our workforce, partners, logistics providers, contingent workers, riders, or others into disclosing rider names, passwords, payment card information, trip and location data, or other sensitive information, resulting in the fraudulent transfer of funds to criminal actors.

We make extensive use of third-party suppliers and service providers, such as cloud services that support our internal and consumer-facing operations, and may have limited insight into the data privacy or cybersecurity practices of such third-party suppliers and service providers. Even if our own cybersecurity measures remain intact, cyberattacks, data breaches, cybersecurity incidents, malicious Internet-based activities, or other incidents or failures that disrupt or result in unauthorized access to third-party information technology systems can materially impact our systems, operations and financial results. In such circumstances, we may not receive timely notice of, or sufficient information about, the breach or other incident or failure, or we may be unable to exert any meaningful control of or influence over how

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and when the breach or other incident or failure is addressed. Any theft, loss, or misappropriation of, or unauthorized access to, riders' or other proprietary, confidential, or sensitive information, or other breach of our information technology systems or those of our third-party suppliers and service providers could disrupt our operations, damage our reputation, result in fines, legal claims, proceedings (including regulatory investigations and actions), or liability for failure to comply with data privacy and cybersecurity laws, or otherwise result in loss of revenue, fraudulent transactions, loss of riders, transaction errors, processing inefficiencies, lack of service reliability, and increased costs (including costs to deploy additional personnel and protection technologies, train employees, and engage third-party experts and consultants).

In addition, our riders could have vulnerabilities on their own devices that are entirely unrelated to our systems and our platform, but could mistakenly attribute their own vulnerabilities to us. Further, breaches or other cybersecurity incidents experienced by other companies may also be leveraged against us. For example, credential stuffing attacks are common, and sophisticated actors can mask their attacks, making the source difficult to identify and difficult to prevent.

The integration of AI in our operations or offerings, and the use of AI and potentially quantum computing by criminal or other threat actors in conducting cyberattacks poses new, evolving and/or unknown cybersecurity risks and challenges. Cyberattacks are expected to accelerate on a global basis in frequency and magnitude as threat actors are becoming increasingly sophisticated in using techniques and tools that circumvent cybersecurity controls, evade detection, and remove forensic evidence. As a result, we may be unable to detect, investigate, remediate, or recover from future attacks or incidents. We continue to incur significant costs in an ongoing effort to detect and prevent cybersecurity breaches and other cybersecurity-related incidents (an expense we expect will increase as we continue to implement systems and processes designed to prevent and otherwise address cybersecurity breaches and incidents). However, we cannot guarantee the success of these measures or prevent incidents from impacting our platform. As we expand our operations, including licensing or sharing data with cities, third parties and acquiring or partnering with other companies, have employees, contractors, or third-party relationships in jurisdictions outside the United States, or continue to expand work-from-home practices of our employees, our exposure to cyberattacks, breaches, and incidents may increase.

Our information technology and infrastructure are subject to cyberattacks, breaches, and incidents, including ransomware or other malware, which have resulted in and may result in interruptions to our operations or unavailability of our platform. Further, unauthorized parties or authorized third parties may be able to access our riders' personal information and limited payment card data that are available through those systems. We may also not have the resources or technical sophistication to anticipate, prevent, respond to, or mitigate cyberattacks or cybersecurity breaches or incidents, and we may face difficulties or delays in identifying and responding to cyberattacks, breaches, and incidents.

In addition to the risks associated with the cybersecurity of our data and systems, our fleet of connected vehicles could itself be a target for cybersecurity attacks. Because our vehicles are Internet of Things ("IoT") devices that can be controlled remotely through our platform, a malicious actor who successfully breaches our systems could potentially gain operational control over a large number of vehicles. Such an attack could be used to immobilize our fleet, manipulate vehicle functions (such as braking and acceleration to create unsafe conditions for our riders), or use the vehicles' real-time location data to expose riders' personal location information. While we have implemented cybersecurity measures designed to prevent such unauthorized access or control, we cannot guarantee that these measures will be effective against future attacks. Any such event could result in serious injuries, significant legal liability, regulatory action, and a loss of rider and community trust in our service, which would harm our reputation and brand and adversely affect our business, financial condition, results of operations, and prospects.

Any actual or perceived breach or incident affecting us or other parties with which we share data or that are processing data on our behalf could (i) interrupt our operations, (ii) result in our platform being unavailable or otherwise disrupted, (iii) result in loss, alteration, unavailability or unauthorized use, disclosure or other processing of data, (iv) result in fraudulent transfer of funds, (v) harm our reputation

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and brand, (vi) damage our relationships with third-party partners and/or logistics providers, (vii) result in regulatory investigations and other proceedings, private claims, demands, litigation (including class actions) and other proceedings, (viii) result in the loss of our ability to accept credit or debit card payments, (ix) increase card processing fees, and (x) result in other significant legal, regulatory, and financial exposure, which could lead to loss of rider confidence in, or decreased use of, Lime, regulatory investigations, litigation (including regulatory enforcement and class actions), other claims, remedies such as substantial fines and/or damage awards, injunctive relief and/or consent decrees, required changes to our business model, negative media attention, and damage to our reputation, any of which could adversely affect our business, financial condition, results of operations, and prospects. Further, any cyberattacks directed toward, or breaches or incidents impacting, our competitors could reduce confidence in the shared micromobility industry as a whole and, as a result, reduce confidence in us.

In the event of a future breach or incident, we could be required to expend additional significant capital and other resources in an effort to respond to and/or prevent further breaches or incidents, which may require us to divert substantial resources and significant management attention, including retaining the services of third-party cybersecurity providers and costs associated with replacing or upgrading our information technology systems cybersecurity. Moreover, we could be required or otherwise find it appropriate to expend significant capital and other resources to respond to, notify third parties of, and otherwise address and contain the breach or incident and determine its root cause.

Additionally, defending against claims or litigation based on any actual or perceived data privacy or cybersecurity breach or incident, regardless of their merit, would be costly and divert management's attention, and we may not be successful in our defense. We cannot be certain that our insurance coverage will be adequate for such liabilities, that insurance will continue to be available to us on commercially reasonable terms, or at all, or that any insurer will not deny coverage as to any future claim. The successful assertion of one or more large claims against us that exceed available insurance coverage, or the occurrence of changes in our insurance policies, including premium increases or the imposition of large deductible or co-insurance requirements, could adversely affect our reputation, brand, business, financial condition, results of operations, and prospects.

***Our reputation and brand in the cities in which we operate are important to our success, and if we are not able to maintain and continue developing our reputation and brand, our business, financial condition, results of operations, and prospects could be adversely affected.***

We believe that building a strong reputation and brand as a safe, reliable, and affordable service is critical to our ability to obtain and maintain permits and attract and retain riders. The successful development of our reputation and brand depends on a number of factors. Claims of accidents involving our vehicles or other causes of injury, particularly injuries involving serious injury or death, including negative publicity surrounding such events, have occurred and are likely to continue to occur. Additionally, the perception that our offerings are unsafe could harm our reputation and may make it less likely that riders would be willing to try or continue using our platform. For example, in the United Kingdom we are subject to claims that our vehicles increase the risk of leg injuries. Other complaints or negative publicity about us, our vehicles, riders, our customer support, our offerings, or our policies and guidelines could also adversely affect our reputation. For example, there have been negative articles addressing our vehicles' interference with access to public spaces or our vehicles being thrown into bodies of water. Our reputation can also be affected by public uses of our vehicles, for example, our vehicles have also been featured in photos from political demonstrations and events, such as the June 2025 Los Angeles protests. Furthermore, from time to time our vehicles are stolen, damaged or vandalized, which has led to decreased reliability and performance, which may adversely affect our reputation. Even if the negative reports are factually incorrect or based on isolated incidents, negative reports can diminish confidence in, and the use of, our offerings. In addition, non-compliance or poor operations by our competitors could lead to negative perceptions of the shared micromobility industry as a whole. If we cannot successfully address these issues and maintain and develop our brand and reputation, we may experience decreased usage by existing riders, decreased rider acquisition, reduced fleet deployment in certain cities, increased regulatory scrutiny, including revocation of permits, and increased claims or increased litigation.

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***If we are unable to successfully develop and market new offerings or make enhancements to our existing offerings, our business, financial condition, results of operations, prospects, and competitive position could be adversely affected.***

If we do not successfully develop, introduce, and scale new or enhanced offerings, our business, financial condition, results of operations, prospects, and competitive position could be adversely affected. Our success depends in part on our ability to design and deliver offerings that meet evolving rider preferences and regulatory expectations, including innovations in hardware, software, and operational models. While these and future enhancements are intended to improve the rider experience and operational efficiency, they may not succeed. For example, they may not achieve rider acceptance, fail to perform as expected, fail to meet permit requirements, face delays, or require greater capital expenditures than anticipated.

In order to enhance the rider experience, from time to time, we introduce new modes of vehicles, vehicle designs, features, or service formats, and we may also test pilot programs, such as our courier and delivery pilot in London. These initiatives involve significant investment and operational complexity and may not be successful. For example, we previously piloted electric mopeds in New York City, which we discontinued. Similarly, in order to improve our operations, from time to time, we may test different marketing strategies to enhance our brand visibility and rider adoption or implement other internal processes to enhance our operational efficiency, but these initiatives may not deliver the benefits we expect from our investments. Ultimately, unsuccessful experiments or delays in scaling new offerings could strain our operational resources, reduce visibility into expected revenue and profitability, and adversely affect our margins, business, financial condition, results of operations, and prospects.

Our ability to develop new offerings could also be adversely affected by changes in rider expectations, the introduction of superior competitive offerings, any deterioration in the availability, safety, reliability, or quality of our service, or regulatory barriers. New vehicle modes or models can also negatively affect the consumer perception of existing vehicle modes or models as they may replace or shorten the lifecycle of existing vehicles modes or models or be cited by claimants in litigation to suggest that prior models were less safe or reliable. If we are unable to anticipate rider demand, efficiently integrate innovations, or recover our investment in new offerings, our ability to attract and retain riders and increase utilization could be impaired, which could adversely affect our business, financial condition, results of operations, and competitive position.

For these reasons, we may not be able to develop new offerings, and such inability could have an adverse effect on, or otherwise harm, our business, financial condition, results of operations, and prospects.

***If we fail to attract and continue to work with qualified logistics providers, or ensure sufficient contingent workers, our business, financial condition, results of operations, and prospects could be adversely affected.***

Our operations rely on logistics providers and contingent workers to support the maintenance and positioning of our fleet. If we fail to attract and engage qualified and sufficient logistics providers or contingent workers on the timelines we require, or if they fail to perform as expected, our business, financial condition, results of operations, and prospects could be harmed.

Our business model relies on our ability to scale up and down our operations in keeping with anticipated rider demand for our vehicles. The availability and performance of logistics providers, contingent workers and our employees may be affected by factors such as reduced task volumes, seasonal variations, weather, changes in population demographics and immigration, competition from other companies, fluctuations in unemployment, conscription, war and conflicts in certain countries like Israel, changes in laws and regulations, or restrictions on certain duties that can be performed by such logistics providers under city permits. Any difficulty engaging qualified logistics providers, scaling up of contingent workers, or resulting from underperformance by logistics providers or contingent workers,

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could harm our ability to scale during peak seasons, meet rider demand, maintain competitive pricing, maintain our fleet, comply with the terms of permits and applicable laws and regulations, or ensure service quality. This, in turn, could adversely affect our brand, reputation, and growth. Evolving regulatory requirements and expansion into new markets may also lead to the imposition of new requirements that could increase our costs or reduce our operational flexibility. Failure to successfully meet these challenges could have a significant adverse effect on our business, financial condition, results of operations, and prospects.

***Challenges to workforce classification and labor compliance could have adverse business, financial, tax, legal, and other consequences to our business, financial condition, results of operations, and prospects.***

Our operations rely on logistics providers and contingent workers, and any material changes to the classification of logistics providers or a finding of joint employment status for contingent workers could have a significant adverse effect on our business, financial condition, results of operations, and prospects.

We operate in a legally complex and evolving global labor landscape, and legislative, judicial, or regulatory authorities may assert adverse interpretations of existing laws or develop new laws in ways that are inconsistent with our model. For example, in 2021, a representative action under California's Private Attorneys General Act ("PAGA") alleging misclassification and related wage-and-hour violations under what we believe was a different labor model resulted in settlements totaling approximately $8.5 million. We are and have been involved in legal proceedings globally, including putative class and collective class action litigation, demands for arbitration, charges and claims before administrative agencies, and investigations or audits by labor, social security, and tax authorities that claim that logistics providers should be treated as our employees, rather than third-party logistics providers and which we believed were previously independent contractors. If a court or regulator (including tax authorities) determines that logistics providers that we utilize are misclassified and should be classified as employees, we would be subject to the claims and actions described above. With respect to contingent workers, who are provided by staffing agencies, a court or regulator could conclude that we are a joint employer, in which case we would become subject to joint employer liability in litigation or in a regulatory action. Such findings could also result in injunctive relief, consent decrees or other governmental actions requiring us to change our business model.

Outside the United States, there is a trend for courts and regulators in countries such as France, Switzerland and Spain to reclassify individuals providing services through app-based platforms in certain circumstances as employees or quasi-employees for social security or labor law purposes. These developments have primarily focused on companies that engage individuals directly, and we believe that our model differs in that we contract with third-party logistics providers. We have been, and may in the future be, subject to classification-related inquiries and regulatory findings in some of the jurisdictions in which we operate, which have resulted in fines and associated employer social security, payroll tax and other employment-related contributions. Moreover, in certain countries such as Spain, companies in the micromobility industry, including us, have been required to maintain a minimum number of full-time employees in certain operational roles.

Reclassification of logistics providers as employees or joint employer status for contingent workers would also subject us to additional obligations and potential liabilities at significant additional cost under wage-and-hour laws, and for employee benefits, social security contributions, taxes, unemployment insurance, worker's compensation, and other labor-related obligations.

Courts or regulators could also characterize our relationships with logistics providers as franchise arrangements, subjecting us to additional statutory requirements, penalties, and compliance burdens that could increase our costs and reduce our contractual flexibility by, for example, limiting our ability to modify or terminate service provider agreements.

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Even if we prevail in defending our operational model of engaging logistics providers and contingent workers, in threatened or actual legal proceedings or regulatory actions, it could be costly, divert management attention, and adversely affect our reputation. Any of the above efforts, successful or otherwise, to reclassify logistics providers as employees or find joint liability for contingent workers could require us to change our business model, which could have a significant adverse effect on our business, financial condition, results of operations, and prospects.

***We often rely on logistics providers and contingent workers, and any difficulties in these arrangements could adversely impact our business, financial condition, results of operations, and prospects.***

We rely on logistics providers and contingent workers to support the maintenance and positioning of our fleet and the logistics of our operations. We cannot control all of the factors that may affect the quality or reliability of these services, including our lack of day-to-day control over the activities of third-party logistics providers, the risk that such providers may not fulfill their obligations to us, or follow the rules and regulations of the cities in which we operate, or may otherwise fail to meet expectations, and that such providers may terminate their arrangements with us on limited or no notice.

Because these logistics providers operate in the field and interact directly with the public, any conflicts, incidents, or altercations involving these service providers could result in litigation, regulatory scrutiny, negative publicity, or reputational harm to us, even where these are outside of our control. In addition, these logistics providers are also subject to state, federal, foreign, and other regulations, and any failure by them to comply with applicable requirements could cause us financial or reputational harm.

We are also dependent on the availability and performance of qualified logistics providers and contingent workers, in particular to scale our operations during times of peak demand. A shortage of qualified logistics providers or contingent workers, or underperformance by existing providers, due to reasons described elsewhere in this Risk Factors section could impair our ability to maintain our fleet and meet rider demand, among other things, which could in turn impact the rider experience and adversely affect our brand and operations.

Our financial performance results of operations, and prospects are dependent on the performance of these logistics providers. If we fail to attract and retain qualified and sufficient logistics providers, or if they fail to perform as expected, our business, financial condition, results of operations, and prospects could be harmed.

***If we are unable to effectively manage the growth of and relationships with our workforce and operations across different labor models, our business, financial condition, results of operations, and prospects could be adversely affected.***

Our workforce and operations have grown substantially since inception, and we expect they will continue to expand through a combination of employees, logistics providers, and contingent workers. Managing a growing, distributed and mixed labor model workforce places significant demands on our operational and financial infrastructure, and if we fail to manage that growth effectively, our reputation, brand, business, financial condition, results of operations, and prospects could be adversely affected. During periods of peak demand we particularly rely on retaining contingent workers. If an agency through which we obtain contingent workers terminated their relationship with us, we could experience a shortage of contingent workers for the period of time it would take for us to find a replacement agency. Although we would not expect it to be difficult to replace such agency relationships, this disruption could temporarily impair our ability to maintain our fleet and meet rider demand, which could in turn adversely affect our brand, business, financial condition, results of operations, and prospects.

In the United States, none of our workforce are represented by a labor union. In Europe, certain employees are represented through work councils or staff representatives, and some are covered by sectoral collective bargaining agreements that apply generally across their industry. We currently do not have any active trade union representation within our workforce. As our workforce grows, we may reach

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thresholds that require elections for employee representation bodies, though this would not necessarily result in trade union representation or company-level bargaining. Managing relationships with these organizations can be complex and may increase costs or limit flexibility in how we operate. Failure to comply with these obligations, or disputes or labor inspections arising from them, could result in financial penalties, operational delays and workforce structural changes, or reputational harm.

Attempts may be made to organize all or part of our workforce in the future. As we continue to grow, we may face increased union-organizing activity and potential regulatory changes that could make unionization efforts more likely to succeed. If some or all of our workforce were to become unionized, and the terms of the collective bargaining agreement were significantly different from our current compensation arrangements, our costs could increase and our operational flexibility could decrease. Responding to such organization attempts could divert management time and resources, and any labor actions, strikes, or disruptions could negatively affect our operations, financial performance, and growth.

Effectively managing our growth will depend on expanding our operational and financial infrastructure, scaling our workforce, and maintaining productive relationships with logistics providers and contingent workers, while preserving the beneficial aspects of our culture. Continued growth could challenge our ability to develop and improve our operational, financial, and management controls, enhance our reporting systems and procedures, and retain a highly skilled workforce. If we do not manage the growth of our business and operations effectively, the quality, reliability, safety, and efficiency of our offerings could suffer, which could adversely affect our reputation and brand, business, financial condition, results of operations, and prospects.

***If we fail to cost-effectively attract new riders, or to increase utilization of our fleet by our existing riders, business, financial condition, results of operations, and prospects could be harmed.***

Our success depends on our ability to cost-effectively attract new riders and retain existing riders in order to increase utilization of our fleet, which increases the strength of our network effect among the cities in which we operate. New and existing riders have a wide variety of options for transportation, including public transit, walking, personal vehicles, rental cars, taxis, and other ridesharing and shared micromobility offerings. Rider preferences may also change from time to time. To expand our rider base, we must appeal to new riders who have historically used other forms of transportation or other shared micromobility operators. If riders do not perceive our offerings to be safe, reliable, and affordable, or if we fail to provide new and relevant offerings and features, we may not be able to attract new riders or retain existing riders. Further, complaints and negative publicity about us and our offerings, even if factually incorrect or based on isolated incidents, may adversely affect our reputation, brand, ability to build trust with new riders or maintain trust with existing riders, and ability to enhance the intelligence of our platform. A key driver of our rider acquisition is word-of-mouth referrals and internal referral programs, which leverage existing rider satisfaction to attract new riders. If we fail to keep our existing riders satisfied with our offerings or fail to attract new riders and grow our rider base, we may lose market share to our competitors, and our network effect may be adversely affected, which in turn could adversely affect our business, financial condition, results of operations, and prospects.

***If we are unable to manage supply chain risks or disruptions affecting our vehicles or to maintain a sufficient number of reliable vehicles in operation to support our network effect, our business, financial condition, results of operations, and prospects would be adversely affected.***

Our vehicles require and rely on hardware and other component parts that we source from a limited number of third-party suppliers. The continued expansion of our fleet depends on our ability to implement and manage supply chain logistics to secure the necessary component parts to assemble, repair and/or upgrade our vehicles. A continuous, stable, and cost-effective supply of component parts that meets our standards is critical to our operations. We expect to continue to rely on external suppliers in the future. Although we have existing contractual relationships throughout our supply chain, there can be no assurance that we will be able to maintain our existing relationships with these suppliers, which would

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impact our ability to produce or repair e-scooters and e-bikes that comply with city requirements or meet rider demand.

The supply chain for our vehicles exposes us to multiple potential sources of delivery failure or shortages including, but not limited to, supply constraints resulting from geopolitical conflicts, local labor issues borne by our manufacturers and logistics providers, changes to the country of origin determinations, and changes to the tariff regime imposed based on the country of origin of Lime's products, including the supply of replacement parts, which are sourced out of Asia, including China, Cambodia, and Vietnam. Our vehicles are generally landed at a limited number of ports depending on the region, and a disruption to operations at these ports, including from extreme weather events, could delay the distribution of our vehicles to the cities in which we operate and increase our costs. In the event that the supply of key components of our vehicles is interrupted or there are significant increases in prices of such components, such as due to actual or proposed tariff increases, we may not be able to secure substitutes on reasonable terms, or at all, and our business, financial condition, results of operations, and prospects could be adversely affected. Changes in business conditions, any public health crises or pandemics, extreme weather events, force majeure, geopolitical disruptions, or governmental or regulatory changes have in the past affected and could in the future adversely affect our suppliers' ability to deliver parts and our ability to deploy our vehicles.

The prices and availability of the component parts for vehicles in our fleet may fluctuate depending on several factors including market and economic conditions, tariffs, changes to import or export regulations, and demand. Substantial increases in prices of these component parts would increase our overall costs and reduce our margins, which could adversely affect our business, financial condition, results of operations, and prospects. New and changing tariffs, duties and taxes may apply in connection with the imports and exports of equipment and parts, and can adversely affect our cost structure and logistics planning. For example, changes in economic relations between the United States and China have, and may continue to result in, increased tariffs on component parts for our vehicles imported from China. Further, customs authorities have and may in the future challenge or disagree with our classifications or valuation of imports. Such challenges could result in tariff liabilities, including tariffs on past imports, as well as penalties.

We depend on a limited number of third-party supply chain and manufacturing suppliers, we have experienced and may in the future experience quality problems, product issues, or supply- or shipping-related issues for the component parts that we need to assemble, repair and/or upgrade our vehicles. Furthermore, some of our newer vehicle designs like LimeGlider may be subject to delays in parts manufacturing, and we may not be able to deploy them in time to meet rider and city demand. Any of the foregoing risks and challenges could adversely affect our business, financial condition, results of operations, and prospects.

***Our marketing efforts to help grow our business may not be effective.***

Promoting awareness of our offerings is important to our ability to grow our business and to attract new riders and can be costly. We believe that much of the growth in our rider base on Lime is attributable to our brand visibility resulting from the physical presence of our vehicles in cities, which we have no control over, and which may not continue in the future. Our growth has also benefitted from high-profile unpaid endorsements and viral marketing opportunities. Our marketing efforts focus on organic growth, including word-of-mouth referrals, internal referral programs, and community-focused campaigns, and strategic commercial partnerships. For instance, in some cities we have partnered with Google, integrating our vehicle availability directly into Google Maps to help consumers discover Lime when getting directions. If we are unable to continue to keep our marketing initiatives cost-efficient or our marketing efforts are not successful in promoting awareness of our offerings or attracting riders, our business, financial condition, results of operations, and prospects could be adversely affected. If our marketing efforts are successful in increasing awareness of our offerings, this could also lead to increased public scrutiny of our business and increase the likelihood of third parties bringing legal

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proceedings against us. Any of the foregoing risks could harm our business, financial condition, results of operations, and prospects.

***A significant portion of rides taken on Lime are concentrated in a relatively small number of markets in which we operate. The loss or decline of one or more of those cities could adversely affect our revenue, business, financial condition, results of operations, and prospects.***

A significant portion of rides taken on Lime are concentrated in a relatively small number of markets in which we operate. For example, we derived approximately 15.2%, 20.8%, 22.2% and 23.1% of our revenue for the years ended December 31, 2023, 2024, and 2025, and the three months ended March 31, 2026, respectively, from the United Kingdom. While our revenue is generally diversely distributed across the approximately 230 cities in which we operate, our results of operations can be sensitive to developments in the concentrated markets. Risks related to adverse permitting or regulatory actions, intensified competition, changes in enforcement, severe weather, labor disruptions, changes in tourism or commuting patterns, macroeconomic conditions, public health crises, geopolitical activities, or other risks described elsewhere in this Risk Factors section in a concentrated market could have a disproportionate impact on our business. If we were to lose, be restricted in, or otherwise experience a decline in fleet size or rider engagement or disruptions in a concentrated market, we may be unable to offset the impact through growth in other cities and markets in a timely or efficient manner, or at all. Moreover, redeploying vehicles and personnel on short notice can be constrained by local compliance requirements and logistics and challenges, potentially resulting in underutilized vehicles and increased costs. Any losses or declines in these concentrated markets could cause our revenue to decline and adversely affect our reputation, business, financial condition, results of operations, and prospects.

***Any failure to offer high-quality rider support may harm our relationships with riders and could adversely affect our reputation, brand, business, financial condition, results of operations, and prospects.***

Our ability to attract and retain riders depends on our ability to provide a high-quality, reliable, and responsive customer support experience. Our customer support offerings include the use of automated systems, AI-powered tools and technology, as well as customer support personnel who need to be sufficiently knowledgeable regarding our offerings and able to effectively and efficiently address our riders' concerns. Riders on Lime depend on our customer support organization and technology offerings (including the use of AI) to resolve issues relating to our offerings, such as reporting a safety incident or questions about billing. Our ability to provide effective and timely support is dependent on us offering a variety of useful support channels to our riders (e.g., via the Rider App, telephone, and/or electronic communications platforms). As we continue to grow our business, expand into new cities, and increase our rider base, we could face challenges related to providing quality support services at scale. See "—Risks Related to our Technology and Intellectual Property." If any of our AI-powered customer support tools and technology or other innovations that we have recently implemented are not perceived to be as a high quality support channel by our riders, or if we fail to provide efficient and effective rider support, or there is a market perception that we do not maintain high-quality support, our reputation, brand, business, financial condition, results of operations, and prospects could be adversely affected.

***Our company culture has contributed to our success and if we cannot maintain this culture as we grow, our business, financial condition, results of operations, and prospects could be adversely affected.***

We believe that our company culture, which promotes safety, sustainability, community, and innovation, has been critical to our success. We face a number of challenges that may affect our ability to sustain our corporate culture, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulties identifying, attracting, rewarding and retaining personnel in leadership positions in our organization who share and further our culture, values and mission;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the increasing size and geographic diversity of our workforce and distributed operations;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• competitive pressures to move in directions that may divert us from our mission, vision, and values;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the continued challenges of a rapidly-evolving industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the increasing need to develop expertise in new areas of business that affect us; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the integration of new personnel and businesses from acquisitions.

If we are not able to maintain our culture, our business, financial condition, results of operations, and prospects could be adversely affected.

***Our business depends on hiring and retaining high-quality personnel, and attrition or an inability to continue hiring high-quality personnel, or loss of our key management or unsuccessful succession planning could adversely affect our business, financial condition, results of operations, and prospects.***

If we are unable to attract, retain, and motivate qualified personnel, our business, financial condition, results of operations, and prospects could be adversely affected.

Our success depends in part on the continued contributions of our key technical employees and other highly skilled personnel for all areas of our organization in the United States and globally. We face intense competition for highly skilled personnel. We may not be successful in recruiting or retaining qualified personnel needed to support our business, and actions we take in response to economic conditions or other factors may affect our reputation or ability to hire in the future. In addition, changes to U.S. immigration policies, particularly to H-1B and other visa programs, including the increased fees associated with H-1B visas after September 21, 2025, and restrictions on travel could restrain the flow of technical and professional talent into the United States and may inhibit our ability to hire qualified personnel. Compliance with new and unexpected U.S. immigration and labor laws could also require us to incur additional unexpected labor costs and expenses or could restrain our ability to retain and attract skilled professionals. Any of these restrictions could adversely affect our business, financial condition, results of operations, and prospects.

Our future success also depends to a significant extent on the continued services of our senior management team, including Wayne Ting, our Chief Executive Officer, Joe Kraus, our President, and Ann Gugino, our Chief Financial Officer. The experience of our senior management is a valuable asset to us and would be difficult to replace. We do not maintain "key person" life insurance for any of our personnel. The loss of the services of our Chief Executive Officer, our President or our Chief Financial Officer or other members of senior management team could disrupt and adversely affect our business, financial condition, results of operations, and prospects.

All of our U.S.-based employees, including our management team, are employed on an at-will basis, and there is no assurance that any such employee will remain with us.

We may be required to increase compensation, benefits, or equity incentives in order to hire or retain qualified employees in ways that increase costs and reduce our margins. Declines in the perceived value of our equity awards, or sales of equity following this offering, could reduce employee motivation or retention. The loss of members of our senior management team or other highly skilled employees, or difficulties in attracting and integrating new hires, could disrupt our operations, delay execution of our strategy, and adversely affect employee morale and productivity.

***If we are unable to protect against theft, vandalism, and/or loss of vehicles and batteries, our business, results of operations and financial condition could be adversely affected.***

Our business depends on our ability to effectively safeguard our vehicle fleet and batteries. We have in the past experienced and expect in the future to experience loss of vehicles and batteries due to damage, vandalism, theft (including from organized retail crime), and other events that cause our vehicles

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and/or batteries to be retired before the end of their useful lives. Vulnerabilities or defects in our hardware, firmware, or software, have in the past and may in the future be discovered and exploited by third parties, and information about such vulnerabilities or methods of theft can spread quickly online, accelerating loss, tampering, and vandalism of our vehicles. Although we may take actions designed to protect against incidents of loss, there is no guarantee that any such measures will be successful, and such actions could have a detrimental effect on our reputation, rider experience, business, financial condition, results of operations, and prospects. For example, in response to heightened loss or risk, we may choose to reposition more of our vehicles away from areas with high loss rates or high incidents of vandalism, reduce our service area, or leave a city entirely. Where those areas also exhibit high rider demand, these actions could limit access to our vehicles, suppress rider adoption, and adversely affect our business, financial condition, and results of operations, and prospects.

***Our business is affected by the level of investments by cities in their public road infrastructure.***

Our business is affected by cities making investments in their road infrastructure that make it easier or more convenient to use our vehicles. Undermaintained or deferred maintenance of road infrastructure decreases the quality of streets and roads in the cities in which we operate and increases the presence of road hazards such as potholes, which may discourage riders from riding our vehicles, increase the likelihood of an accident, or increase the decay rate of our vehicles due to heightened wear and tear. Our vehicles are offered for use primarily in cities, where roads are often narrow and heavily congested with cars, buses, and light rails, which can make it unattractive for riders to use our service depending on the level of congestion. We depend on cities to improve infrastructure to lessen these factors and that make it easier for shared micromobility vehicles to operate, such as protected bike lanes and widening lanes to accommodate non-automobiles. While we endeavor to proactively work with cities to suggest improvements, and in some cases partner with cities to help forge policies that enhance infrastructure such as increasing the number of parking spaces available for our vehicles, improvements in city infrastructure remains generally outside of our control. Furthermore, many cities rely on federal grants and other types of funding from the federal government to fund infrastructure improvement projects, and such grants or funding may be decreased or canceled entirely. Any decrease from current levels of investment in infrastructure could have an adverse impact on our business, financial condition, results of operations, and prospects.

***Certain conditions like those that could lead to reductions in the levels of leisure and commuter travel could adversely affect ridership of our vehicles and result in decreased revenues and disruptions to our business.***

Public health crises, epidemics, pandemics, such as the outbreak of COVID-19, natural disasters, terrorist activities, political demonstrations, military actions, power outages, or other events could disrupt our operations, damage our vehicles, reduce ridership of our vehicles, or require temporary cessations of our offerings. Because our operations are generally concentrated in urban areas, including business districts, macro events that diminish urban activity, such as declines in office attendance, tourism, retail foot traffic, or public gatherings, could disproportionately impair ridership and our financial performance. For example, during the COVID-19 pandemic, various governmental restrictions, including the declarations of states of emergency, school and business closings, quarantines, "shelter at home" orders, restrictions on travel, limitations on social or public gatherings, and other social distancing measures reduced demand for our offerings and leisure and commuter travel generally. Reductions in levels of leisure travel as well as commuter travel, whether caused by general economic conditions, such as inflation, higher airfare costs or other events such as work stoppages, military conflicts, wars, terrorist incidents, civil unrest, cybersecurity incidents, natural disasters, epidemic or pandemic diseases, government shutdowns, recessions or other economic or labor market downturns, or the response of governments to any of these events, have in the past and could in the future have an adverse effect on the demand for shared micromobility overall and for our vehicles in particular. For example, recent and ongoing hostilities in the Middle East have caused disruptions in our business operations in that region, particularly in Israel, which could adversely affect our business, financial condition, results of operations, and prospects and cause unstable market conditions. We have no way to predict the progress or

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outcome of such hostilities or their impact on the region as the conflicts and government reactions are rapidly developing.

Natural disasters such as fires, earthquakes, or hurricanes may also reduce ridership of our vehicles. The impact of climate change may increase the frequency or severity of these risks and of weather events that make our offerings unappealing. We have temporarily reduced or stopped offerings in cities affected by such natural disasters in the past and expect to do so in the future.

Such events or natural disasters also impact regional and local travel trends, which impacts our business, results of operations and financial condition. We derive significant revenues from key leisure destinations, including California in the United States and major cities in Europe. Travel to leisure destinations is dependent upon the ability and willingness of consumers to travel on vacation, which in turn is impacted by a variety of factors, including weather and climate-related events, wars, geopolitical dynamics in a location, and the effect of economic cycles on consumers' discretionary travel. Uncertainty in overall consumer sentiment in the current economic environment, coupled with military conflicts, such as those in Israel, may adversely affect leisure travel to certain key cities, and thus have a negative impact on our business, financial condition, results of operations, and prospects.

Furthermore, civil unrest and increased police and law enforcement presence in any of the cities we operate could adversely affect demand for our vehicles and the quality of our operations. For example, in August 2025, members of the National Guard were deployed in Washington, D.C. and surrounding suburbs, which led to a decline in ridership as well as the cessation of service by some of our logistics providers as people chose to limit travel in response.

Our business, financial condition, results of operations, and prospects are also subject to global economic conditions, including inflation, including any resulting effect on discretionary spending by us or our riders.

***Our business depends in part on the success of our strategic go-to-market partnerships, including with Uber, and if we are unable to establish and maintain successful partnerships, our business, financial condition, results of operations, and prospects could be adversely affected.***

We rely on Uber as a significant, highly efficient go-to-market channel for rider acquisition, discovery, and booking. In nearly all of our shared markets, Lime vehicles are featured as a ride option within the Uber app, and riders can access and initiate Lime trips through Uber's interface. By leveraging Uber's existing infrastructure and rider network, we tap into an existing rider base that can drive awareness without upfront marketing costs. For the years ended December 31, 2023, 2024, and 2025 and the three months ended March 31, 2026, approximately 14%, 16%, 14%, and 14% respectively, of our revenue was attributable to the Pay-As-You-Go revenue generated through our partnership with Uber.

Our arrangement with Uber is governed by a license and integration agreement that also includes an exclusivity provision in certain of our overlapping cities. Our current agreement, which was renewed in May 2025, extends through 2028, following multiple prior extensions, and is subject to unilateral termination by Uber in certain circumstances. If our agreement with Uber were terminated, not renewed, or materially modified in a manner that reduces our visibility or access to the rider base on Uber's platform, rider acquisition and demand for our offerings could be adversely affected, our rider acquisition costs could increase, and our unit economics could be impacted, any of which could harm our business, financial condition, results of operations, and prospects.

If exclusivity under our current agreement were to end or be narrowed, Uber could list or prioritize competing shared micromobility operators, which may reduce Lime's share of rider traffic and bookings within the Uber app. While we may seek to access riders through other partnerships or direct channels, we may be unable to replace lost volume in full, on acceptable economic terms, or in a timely manner, and any shift could require increased marketing spend, changes to pricing, or other actions that adversely affect our margins.

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Our exposure to this channel also creates concentration risk. A decline in Uber's user base, market share, brand perception, or engagement in the cities where we are integrated, whether due to competition, macroeconomic conditions, regulatory developments, litigation, reputational events, product changes, or service interruptions, could reduce rider discovery and bookings of Lime through the Uber app. In addition, any changes by Uber to its policies, technical requirements, data sharing practices, or compliance standards could increase our costs, limit our access to the channel, or require product or operational changes.

***Our investments in research and development may not yield the results expected.***

Our business operates in intensely competitive markets characterized by rapid technological innovation and changing consumer preferences. Due to advanced technological innovation and the relative ease of technology imitation, new products and offerings tend to become standardized more rapidly, leading to more intense competition and ongoing cost erosion. In order to strengthen the competitiveness of our offerings in this environment, we expect to continue to invest heavily in research and development, maintaining and enhancing our hardware, software, and platform. However, these investments may not yield the innovation or the results expected on a timely basis, or at all, or our competitors may surpass us in technological innovation, hindering our ability to commercialize new and competitive products that meet the needs and demands of the market in a timely manner or at all, which consequently may adversely impact our business, financial condition, results of operations, and prospects as well as our reputation.

***Changes in consumer preferences or demographic trends or discretionary consumer spending could adversely impact our business, financial condition, results of operations, and prospects.***

Changes in consumer preferences, demographic trends, and trends in discretionary consumer spending could adversely affect business, financial condition, results of operations, and prospects. For example, rider preferences for other forms of transportation such as autonomous vehicles could also adversely affect rider adoption or retention and reduce the effectiveness of our marketing and technology initiatives. Additionally, the majority of our riders are between the ages of 18 and 45, and if we fail to appeal to riders outside of this age range, our ability to grow our business may be adversely affected. For example, we designed and introduced our LimeGlider vehicle to appeal to older riders who may prefer the comfort of a seated vehicle to a standing e-scooter but that effort may not be successful. In addition, changes in preferences by consumers for modes of shared micromobility vehicles other than those that we offer could adversely affect demand for our vehicles. Development of new modes of vehicles to address anticipated consumer preference is capital intensive and costly, and we may not be able to accurately predict consumer preference, or develop new vehicles in a timely fashion, or at all, to address such changing preferences, which may harm our reputation or result in us losing market share. Also, our success depends to a significant extent on numerous factors affecting consumer confidence and discretionary consumer income and spending, such as general economic conditions, consumer sentiment, and unemployment levels. Any factors that could cause consumers to spend less on shared micromobility or shift to lower-priced products could reduce our revenue or inhibit our ability to maintain or increase pricing, which could adversely affect our business, financial condition, results of operations, and prospects.

***Our vehicles use lithium-ion battery cells, which occasionally have been observed to catch fire or vent smoke and flame. If such risk materialized, it could adversely affect our reputation, business, financial condition, results of operations, and prospects.***

The battery packs within our vehicles use lithium-ion cells. If the batteries are improperly handled, stored, managed, transported, or controlled, or the lithium-ion cells are subject to environmental stresses, such as from wear-and-tear or from vandalism, they can rapidly release the energy they contain by venting smoke and flames in a manner that can ignite nearby materials as well as other lithium-ion cells. Even if properly handled, there can be no assurance that a thermal event will not occur. While the battery pack is designed to contain any single cell's release of energy without spreading to neighboring cells, the

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battery pack could fail during testing or charging or in the field, which could result in bodily injury or death and subject us to litigation, regulatory investigations or actions, or redesign efforts, all of which would be time-consuming and expensive and could harm our brand and divert our resources. Also, negative public perceptions regarding the suitability of lithium-ion cells for vehicle applications, the social and environmental impacts of mineral mining or procurement associated with the constituents of lithium-ion cells, or any future incident involving lithium-ion cells, such as a vehicle or other fire, could adversely affect our reputation, business, financial condition, results of operations, prospects, and cash flows.

In addition, we and logistics providers store and charge the battery packs at certain of our respective facilities, which expose us to risk of obsolescence, degradation, or damage. We have experienced, and may in the future experience, battery safety issues, including thermal events or defects that necessitate removing vehicles or batteries from circulation, pausing operations to investigate, and undertaking remediation, replacement, or retrofit programs. Such damage or injury could also lead to adverse publicity, litigation, and regulatory action. Any such safety issue or fire related to the batteries could disrupt our operations and any prolonged or significant disruption would adversely affect our business, financial condition, results of operations, prospects, or cash flows. In addition, the transportation and effective storage of lithium-ion batteries is also tightly regulated by the United States Department of Transportation and other similar regulatory bodies in other markets, the governing regulations are continuously evolving as lithium-ion batteries become more and more widely used around the world. The cost to comply with such regulations has increased and could continue to increase as such regulations evolve. In addition, any failure to comply with such regulations or future regulations could result in fines, loss of permits, or other regulatory consequences, which could limit our ability to manufacture and deliver our vehicles, which could impact the availability and affordability of our vehicles. If any of the foregoing risks adversely impact our operations and the rider experience, our business, financial condition, results of operations, and prospects may be adversely affected.

***Our business is substantially dependent on operations outside the United States, including those in markets in which we have limited experience, and if we are unable to manage the risks presented by our business model internationally, our business, financial condition, results of operations, and prospects would be adversely impacted.***

As of December 31, 2025, we operated in 29 countries and approximately 230 cities. We have limited experience operating in many jurisdictions outside of the United States and have made, and expect to continue to make, significant investments to expand our international operations and compete with local competitors.

Conducting our business internationally, particularly in countries in which we have limited experience, subjects us to risks that we do not face to the same degree in the United States. These risks include, among others:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• operational and compliance challenges caused by distance, language, and cultural differences;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the resources required to localize our business, which requires the translation of the Rider App and Lime Supply App and our website into foreign languages and the adaptation of our operations to local practices, laws, and regulations and any changes in such practices, laws, and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• laws and regulations more restrictive than those in the United States, including laws governing competition, pricing, payment methods, Internet activities, logistics services, insurance, payment processing and payment gateways, tax and social security laws, employment and labor laws, email messaging, data privacy, location services, collection, use, sharing or other processing of personal information, ownership of intellectual property, and other activities important to our business;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• competition with companies or other services that understand local markets better than we do, that have pre-existing relationships with potential riders in those markets, or that are favored by government or regulatory authorities in those markets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• differing levels of social acceptance of our brand, products, and offerings, whether due to our perceived national association or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exposure to business cultures in which improper business practices may be prevalent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulties in managing, growing, and staffing international operations, including in countries in which foreign employees may become part of labor unions, employee representative bodies, or collective bargaining agreements, and challenges relating to work stoppages or slowdowns;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• fluctuations in currency exchange rates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• higher levels of credit risk and payment fraud;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adverse tax consequences, including the complexities of foreign value added tax systems, and restrictions on the repatriation of earnings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increased financial accounting and reporting burdens, and complexities associated with implementing and maintaining adequate internal controls;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulties in implementing and maintaining the financial systems and processes needed to enable compliance across multiple offerings and jurisdictions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• tariffs, import and export restrictions, and changes in trade regulation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• political, social, and economic instability abroad, including wars in the Middle East, terrorist attacks and security concerns in general, and societal crime conditions that can directly impact riders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reduced or varied protection for intellectual property rights in some markets.

If we fail to manage any of the foregoing risks effectively or at all, our international operations could be impacted, which would in turn adversely affect our business, financial condition, results of operations, and prospects.

**Risks Related to our Technology and Intellectual Property**

***Our platform contains third-party open source software components, and failure to comply with the terms of the underlying open source software licenses could disrupt our riders' ability to access our platform.***

Our platform contains software licensed to us under "open source" licenses. Use and distribution of open source software may entail greater risks than use of third-party proprietary software, as open source licensors generally do not provide the same degree of support, and do not offer warranties, indemnification, or other contractual protections regarding infringement claims or the quality of the code, including the existence of software vulnerabilities. In addition, the public availability of such software may make it easier for others to compromise our platform.

Some open source licenses contain requirements that we make available source code for modifications or derivative works we create based upon the type of open source software we use, or that we grant licenses to our intellectual property to others on terms that are unfavorable to us or at no cost. Additionally, some open source licenses require that if we combine our proprietary software with open source software in a certain manner, we could be required to release the source code of our proprietary software to the public. This can effectively render what was previously proprietary software to be open source software and may allow our competitors to create similar platform with lower development effort

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and time, and could ultimately result in a loss of our competitive advantage. Alternatively, to avoid the public release of the affected portions of our source code, we could be required to expend substantial time and resources to re-engineer some or all of our software.

Although we attempt to mitigate such unintended licensing obligations, the terms of many open source licenses have not been interpreted by U.S. or foreign courts, and there is a risk that these licenses could be construed in a way that could impose unanticipated conditions or restrictions on our ability to provide or distribute impacted elements of our platform. From time to time, there have been claims challenging the ownership of open source software against companies that incorporate open source software into their solutions. As a result, we could be subject to litigation by parties claiming ownership of what we believe to be open source software. Moreover, we cannot assure you that our processes for controlling our use of open source software in our platform will be effective. If we are held to have breached or failed to fully comply with all the terms and conditions of an open source software license, we could face infringement or other liability, be subject to costly litigation, or be required to seek costly licenses from third parties to continue operating our platform on terms that are not economically feasible, to re-engineer our platform, to discontinue use of impacted elements of our platform if re-engineering could not be accomplished on a timely basis, if at all, or to make generally available, in source code form, our proprietary code, any of which could adversely affect our business, financial condition, results of operations, and prospects.

***Our business could be adversely affected by changes in the access to and use of the Internet, mobile networks, GNSS systems including GPS and Galileo, and mobile devices and unfavorable changes in, or our actual or perceived failure to comply with, existing or future laws governing the access to and use of the Internet, mobile networks, and mobile devices.***

Our business depends on riders' ability to access vehicles via the Rider App and our in-field workers' ability to access tasks via the Lime Supply App on a mobile device and its operating system, mobile network operators, and the Internet, and our vehicles having access to the Internet. We may operate in cities that provide limited Internet connectivity, particularly as we continue to expand internationally. Internet access and mobile network access are frequently provided by companies with significant market power that could take actions that degrade, disrupt, or increase the cost of riders' ability to access our vehicles and our ability to operate our vehicles cost-effectively. In addition, the Internet infrastructure that we and our riders rely on in any particular geographic area may be unable to support the demands placed upon it, or otherwise subject to outages or other disruption. Our offerings also depend on Global Navigation Satellite System ("GNSS") technology, which includes Global Positioning System ("GPS"), Galileo, and other GNSS systems, to help riders locate our fleet. Any such failure in Internet availability, the mobile device or mobile network availability, or GNSS/GPS/Galileo availability, even for a short period of time, would adversely affect riders' ability to access our offerings and our ability to provide offerings during such interruption and could potentially harm our business, financial condition, results of operations, and prospects.

Moreover, we are subject to a number of laws and regulations specifically governing the Internet, mobile networks, and mobile devices that are constantly evolving. Existing and future laws and regulations, or changes thereto, may impede the growth and/or availability of the Internet, mobile network, and online offerings generally, require us to change our platform architectures, features, or implementation, or our business practices, or raise our effective compliance costs or other costs of doing business. Any failure, or perceived failure, by us to comply with any of these laws or regulations could result in damage to our reputation and brand, a loss in business and proceedings or actions against us by governmental entities or private parties (e.g., class actions, administrative or other legal proceedings, such as litigation in court or in arbitration), which could adversely affect our business, financial condition, results of operations, and prospects.

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***We rely on mobile operating systems and application marketplaces to make the Rider App available to riders, and if we do not effectively operate with such application marketplaces and maintain high rider reviews for the Rider App, our usage or brand recognition could decline and our business, financial condition, results of operations, and prospects could be adversely affected.***

We depend on mobile operating systems, such as Android and iOS, and their respective application marketplaces, and our website, to make the Rider App available to riders to access and interface with the Rider App and our offerings. Any changes in such third-party systems that degrade the functionality of the Rider App could adversely affect the riders' experience on impacted mobile devices. If such mobile operating systems or application marketplaces limit or prohibit us from making the Rider App available to riders, make changes that degrade the functionality of the apps, increase the cost of using the Rider App, impose terms of use unsatisfactory to us, or modify their search or ratings algorithms in ways that are detrimental to us, or if our competitors' placement in such application marketplace is more prominent than the placement of the Rider App, our overall growth in our rider base could slow. The Rider App has experienced fluctuations in the number of downloads in the past, and we anticipate similar fluctuations could happen again in the future. Any of the foregoing risks could adversely affect our business, financial condition, results of operations, and prospects.

As new mobile devices and mobile platforms are released, there is no guarantee that such devices and platforms will support the Rider App or Lime's ability to effectively release updates to the Rider App. Additionally, in order to deliver a high-quality application, we strive to ensure that the Rider App is designed to work effectively with a range of mobile technologies, systems, networks, and standards. We may not be successful in developing or maintaining participants in the mobile industry necessary to keep pace with the evolution of the mobile ecosystem, which may adversely affect riders' ability to access and utilize our offerings through the Rider App, or their experience with Lime. If Lime riders encounter any difficulty accessing or using the Rider App on their mobile devices, or if we are unable to adapt to changes in popular mobile operating systems, our business, financial condition, results of operations, and prospects could be adversely affected.

In addition, mobile operating system providers have announced changes as well as future plans to limit the ability of application developers like us to collect and use certain data about consumers, including riders using the Rider App. For example, in 2021, Apple imposed requirements for consumer disclosures regarding data privacy practices, and implemented an application tracking transparency framework that requires opt-in consent for certain types of tracking. In February 2022, Google announced it planned to adopt restrictions to restrict tracking activity across Android devices. These changes have had, and we expect will continue to have, a negative impact on our flexibility in the collection and use of rider data for advertising and promotions. If we are unable to mitigate the effects of these new developments, it may further impair our ability to effectively reach and grow new riders, or to effectively engage with existing riders with targeted advertising and promotions through the Rider App.

Similarly, we also rely on the Lime Supply App to enable the deployment, charging, repositioning, and maintenance of our vehicles by our workforce. If mobile operating systems, application marketplaces, device changes, or connectivity and location-permission restrictions limit, disrupt, or degrade the Lime Supply App, our workforce may be unable to execute tasks efficiently, which could reduce fleet availability, increase costs, and adversely affect our business, financial condition, results of operations, and prospects.

***Use of AI and machine learning may present additional risks, including risks associated with algorithm development or use, the data sets used, and/or a complex, developing regulatory environment.***

We use AI, automated decision making, and machine learning technologies (collectively, "AI Technologies") for our internal work streams and productivity as well as to analyze our data in support of our operations, which may present additional risks, including risks inherent in its use. For example, we rely on AI Technologies to detect and prevent fraudulent activity, including the use of stolen payment

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credentials and unauthorized use of our vehicles as well as for predicting rider demand and dynamically deploying our fleet. We also use machine learning to prioritize and assign operational tasks within the Lime Supply App, including dispatch sequencing, charging and maintenance scheduling, fleet repositioning, and parts and inventory allocation. If these algorithms are wrong, outdated, or biased, they may not adequately prioritize work, misroute our workforce, delay repairs or charging, trigger stockouts of spare parts, which can reduce fleet availability and service quality, increase operating costs, and contribute to failures to meet permit requirements or regulations.

We are making investments in expanding our AI capabilities in our offerings, including ongoing deployment and improvement of existing AI Technologies, as well as using AI Technologies in our software engineering processes and the development of new features. As with many technological innovations, there are significant risks involved in developing, maintaining, and deploying these technologies and there can be no assurance that the usage of or our investments in such technologies will enhance our offerings or be beneficial to our business, including our efficiency, or profitability. If these AI Technologies are incorrectly designed or implemented, or the data sets or models upon which they are based have errors or biases or are incomplete, inaccurate or of poor quality, or if we do not have adequate rights to use such data sets or models, the performance of our offerings, as well as our business and reputation, could suffer, or we could otherwise incur liability through the violation of laws, or contracts to which we are a party. Further, such AI Technologies may also be adversely impacted by unforeseen defects, technical challenges, data breaches, cybersecurity threats or material performance issues. Accordingly, our use of AI Technologies may inadvertently reduce our effectiveness and efficiency or cause unintentional or unexpected outputs that are incorrect, do not match our business goals, standards and values, do not comply with our policies or procedures, harm our brand and reputation, negatively impact users or otherwise interfere with the performance of our business.

In addition, we may experience difficulties in enforcing any intellectual property or other proprietary rights in output generated by generative AI Technologies. The United States Copyright Office has previously denied copyright protection for content generated by AI Technologies, and the United States Patent and Trademark Office has similarly stated that an AI tool cannot be an "inventor" of a patent, rendering it impossible to obtain patent protection for inventions created solely by AI Technologies. In addition, the Supreme Court of the United Kingdom has reached a similar conclusion, stating that AI systems cannot be named as an "inventor" for UK patent law purposes. The United States and other countries are also considering, or have implemented, comprehensive legal compliance frameworks specifically for AI, which is a trend that may increase given that the European Union entered into force the first such framework in its Artificial Intelligence Act on August 1, 2024 (the "EU AI Act"). The EU AI Act establishes, among other things, a risk-based governance framework for regulating AI systems operating in the European Union. This framework categorizes AI systems, based on the risks associated with such AI systems' intended purposes, as creating unacceptable or high risks, with other AI systems being considered limited or low risk. In addition, there may be additional legislation or regulations from government bodies that similarly impose compliance obligations for AI. Any failure or perceived failure by us to comply with such current or future requirements, including the EU AI Act, could have an adverse impact on our business, including by increasing our risk of regulatory action or liability. In addition, compliance with such legislation or regulation may impose additional costs on us or otherwise adversely affect our business, results of operations, financial condition and future prospects. Changes to existing regulations, their interpretation or implementation, or new regulations could impede our use of AI and machine learning technology and also may increase the burden and cost of research and development in this area.

Our ability to continue to use such AI Technologies at the scale we need may be dependent on access to specific third-party software and infrastructure. We cannot control the availability or pricing of such third-party AI Technologies, especially in a highly competitive environment, and we may be unable to negotiate reasonable economic terms with the applicable providers. If any such third-party AI Technologies become incompatible with our systems or unavailable for use, or if the providers of such models unfavorably change the terms on which their AI Technologies are offered or terminate their

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relationship with us, our operational workforce could become less efficient or effective and our business, financial condition, results of operations, and prospects could be harmed.

While we aim to use AI Technologies ethically and attempt to identify and mitigate ethical or legal issues presented by its use, we may be unsuccessful in identifying or resolving issues before they arise. The use of AI Technologies to support business operations carries inherent risks related to data privacy and cybersecurity, such as intended, unintended, or inadvertent transmission of proprietary, confidential or sensitive information, as well as challenges related to implementing and maintaining AI Technologies, such as developing and maintaining appropriate datasets for such support. For example, if any of our employees, logistics providers, or contingent workers input our proprietary, confidential, or sensitive information while using any third-party AI Technologies in connection with our business or the products, solutions and services such third parties provide to us, such practice may lead to the inadvertent disclosure of our proprietary, confidential, or sensitive information, which may impact our ability to realize the benefit of, or adequately maintain, protect and enforce our intellectual property or other proprietary rights in, such proprietary, confidential, or sensitive information or otherwise adversely affect our business, financial condition, results of operations, and prospects. In addition, AI use or management by us or others, including decisions based on automated processing or profiling, inappropriate or controversial data practices, or insufficient disclosures regarding machine learning, automated decision making, and algorithms, have and could impair the operationality or acceptance of AI Technologies or subject us to litigation, regulatory investigations, or other harm, such as negative impacts to the value of our intellectual property or our brand. These deficiencies could also undermine the decisions, predictions, or analysis AI applications produce, or lead to unintentional bias and discrimination, subjecting us to competitive harm, legal liability, and brand or reputational harm. The rapid evolution of AI Technologies may require us to allocate additional resources to help implement AI in order to minimize unintended or harmful impacts, and may also require us to make additional investments in the development of proprietary datasets, machine learning models or other systems, which may be costly. Market acceptance of AI Technologies is uncertain, and we may be unsuccessful in our vehicle development efforts or suffer reputational harm. Any of these factors could adversely affect our business, financial condition, results of operations, and prospects.

***We rely on third parties, including technology providers, and if such third parties do not perform adequately or terminate their relationships with us, our costs may increase and our business, financial condition, results of operations, and prospects could be adversely affected.***

Our success depends in part on our relationships with third-party technology providers. For example, we rely on encryption and authentication technologies licensed from third parties that are designed to securely transmit personal information provided by riders on Lime. We also use and incorporate third-party technology, such as identity verification technology, as part of our platform. If any of these third parties terminate their relationship with us or refuse to renew their agreement with us on commercially reasonable terms, we would need to find an alternative provider and may not be able to secure similar terms or replace such provider in an acceptable time frame or at all. We also rely on other software and services supplied by third parties, such as communications and internal software, and our business may be adversely affected to the extent such software and services do not meet our expectations, contain defects, errors, or vulnerabilities, are compromised, or otherwise experience outages. Any of these risks could increase our costs and adversely affect our business, financial condition, results of operations, and prospects.

We use and incorporate technology and intellectual property from third parties into our platform. Such third-party technology and intellectual property, and the terms on which they are offered, are constantly evolving, and we may not be able to maintain or modify our platform to ensure their compatibility with such third-party offerings. Updates to third-party technology or software that integrates with our platform, could cause our platform to not operate as efficiently as such platform has previously operated, or at all. Moreover, we cannot be certain that such technology and intellectual property does not infringe, misappropriate or otherwise violate the intellectual property or other proprietary rights of others, or that our suppliers and licensors have sufficient rights in or to the technology or intellectual property in all cities

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in which we may operate. If we are unable to obtain, maintain, protect, defend or enforce our rights to any of this technology, including because of intellectual property infringement claims brought by third parties against our suppliers and licensors or against us, or if we are unable to continue to obtain the technology or enter into new agreements on commercially reasonable terms, our ability to develop our platform or offerings containing that technology could be adversely affected and our business, financial condition, results of operations, and prospects could be adversely affected. Additionally, if we are unable to access necessary technology from third parties, we may be forced to redesign our technology or acquire or develop alternate technology, which may require significant time and effort, may be of lower quality or performance standards, and may subject us to certain risks discussed in the preceding paragraph that are currently borne by third parties. This would limit and delay our ability to provide new or competitive offerings and increase our costs. If alternate technology cannot be obtained or developed or if we are unable to develop such alternate technology at commercially reasonable levels of risk, we may not be able to offer certain features or functionality as part of our offerings, which could adversely affect our business, financial condition, results of operations, and prospects.

***We rely on third-party payment processors to process payments made by riders on the Rider App, and if we cannot manage our relationships with such third parties and other payment-related risks, our business, financial condition, results of operations, and prospects could be adversely affected.***

We rely on a limited number of third-party payment processors to process payments made by riders. If any of our third-party payment processors terminates its relationship with us or refuses to renew its agreement with us on commercially reasonable terms, we would need to find an alternate payment processor, and may not be able to secure similar terms or replace such payment processor in an acceptable time frame or at all. See also "—Risks Related to our Technology and Intellectual Property—We rely on third parties, including technology providers, and if such third parties do not perform adequately or terminate their relationships with us, our costs may increase and our business, financial condition, results of operations, and prospects could be adversely affected." Any of these risks could cause us to lose our ability to accept online payments or other payment transactions on Lime, either of which could make Lime less convenient and attractive to riders and adversely affect our ability to attract and retain riders.

Nearly all rider payments are made by credit card, debit card, or through third-party payment services, which subjects us to certain payment network or service provider operating rules, to certain regulations and to the risk of fraud. We may in the future offer new payment options to riders that may be subject to additional operating rules, regulations, and risks. We may also be subject to a number of other laws and regulations relating to the payments we accept from riders, including with respect to money laundering, money transfers, data privacy, data protection, and cybersecurity. If we fail to comply with applicable rules and regulations, we may be subject to civil or criminal penalties, fines, or higher transaction fees and may lose our ability to accept online payments or other payment card transactions, which could make our offerings less convenient and attractive to riders. If any of these events were to occur, our business, financial condition, results of operations, and prospects could be adversely affected.

For example, if we are deemed to be a money transmitter as defined by applicable regulation, we could be subject to certain laws, rules, and regulations enforced by multiple authorities and governing bodies in the United States and numerous state and local agencies who may define money transmitter differently. For example, certain states may have a more expansive view of who qualifies as a money transmitter. Additionally, outside of the United States, we could be subject to additional laws, rules, and regulations related to the provision of payments and financial services, and if we expand into new jurisdictions, the foreign regulations and regulators governing our business that we are subject to will expand as well. If we are found to be a money transmitter under any applicable regulation and we are not in compliance with such regulations, we may be subject to fines or other penalties in one or more jurisdictions levied by federal, state, or local regulators, including state attorneys general, as well as those levied by foreign regulators. In addition to fines, penalties for failing to comply with applicable rules and regulations could include criminal and civil proceedings, forfeiture of significant assets, or other

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enforcement actions. We could also be required to make changes to our business practices or compliance programs as a result of regulatory scrutiny.

For various payment options, we are required to pay fees such as interchange and processing fees that are imposed by payment processors, payment networks, and financial institutions. These fees are subject to increases, which could adversely affect our business, financial condition, results of operations, and prospects. Additionally, our payment processors require us to comply with payment card network operating rules, which are set and interpreted by the payment card networks and which include, among other obligations, requirements to comply with security standards. For example, we are subject to the Payment Card Industry Data Security Standard ("PCI DSS"), issued by the Payment Card Industry Security Standards Council. PCI DSS contains compliance guidelines with regard to our security surrounding the physical and electronic storage, processing, and transmission of cardholder data. The payment card networks could adopt new operating rules or interpret or re-interpret existing rules in ways that might prohibit us from providing our offerings to some riders, be costly to implement, or difficult to follow, and if we fail or are alleged to fail to comply with applicable rules or requirements of payment card networks, we may be subject to fines or higher transaction fees and may lose our ability to accept online payments or other payment card transactions. We have agreed to reimburse our payment processors for fines that are assessed by payment card networks if we, our employees, or our riders violate these rules. Any of the foregoing risks could adversely affect our business, financial condition, results of operations, and prospects.

***Systems failures and resulting interruptions in the availability of the Rider App, the Lime Supply App, and offerings could adversely affect our business, financial condition, results of operations, and prospects.***

Our business is highly dependent upon the effective operation of our information technology systems. Our systems, or those of third parties upon which we rely, may experience service interruptions, failures or degradation because of firmware and software defects or malfunctions, distributed denial-of-service and other cyberattacks, human error, earthquakes, hurricanes, floods, fires, natural disasters, power losses, disruptions in telecommunications services, fraud, military or political conflicts, terrorist attacks, computer viruses, ransomware, malware, phishing and forms of social engineering, or other events. Our systems also may be subject to break-ins, physical or electronic intrusions, sabotage, theft or misuse, and intentional acts of vandalism, including by our own personnel. We have experienced, and may in the future experience, incidents involving misconduct by our personnel, including misappropriation of funds, data, or system access, which could result in financial loss, operational disruption, regulatory exposure, and reputational harm.

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

We have experienced and will likely continue to experience system failures and other events or conditions from time to time that interrupt the availability or reduce or affect the speed or functionality of our offerings. These events have resulted in, and similar future events could result in, losses of revenue or additional costs and expenses. A prolonged interruption in the availability or reduction in the availability, speed, or other functionality of our platform could adversely affect our business, financial condition, results of operations, and prospects and reputation and could result in the loss of riders. Moreover, to the extent that any system failure or similar event results in harm or losses to our riders, we may make voluntary payments to compensate for such harm or the affected riders could successfully seek monetary recourse or contractual remedies from us for their losses and such claims, even if unsuccessful, would likely be time-consuming and costly for us to address.

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***We primarily rely on Amazon Web Services ("AWS") to deliver our platform to riders, and any disruption of or interference with our use of AWS could adversely affect our business, financial condition, results of operations, and prospects.***

We currently host our platform and support our operations using AWS, a third-party provider of multi-tenant cloud infrastructure services. We do not have control over the operations of the facilities of AWS that we use. AWS' facilities are vulnerable to damage or interruption from natural disasters, cyberattacks, terrorist attacks, power outages, and similar events or acts of misconduct. Our platform's continuing and uninterrupted performance is critical to our business operations and ensuring riders' access to our offerings. We have experienced, and can expect that we will experience, interruptions, delays, and outages in AWS service and availability due to a variety of factors, including infrastructure changes, human or software errors, website hosting disruptions, and capacity constraints. In addition, any changes in AWS' service levels may adversely affect our ability to meet the requirements of riders, our employees or operational workforce. Since our platform's continuing and uninterrupted performance is critical to our success, sustained, or repeated AWS system failures would reduce the effectiveness of our operations and the attractiveness of our offerings. It may become increasingly difficult to maintain and improve our performance, especially during peak usage times, as we expand and the usage of our offerings increases. Any negative publicity arising from these disruptions could harm our reputation and brand and may adversely affect the usage of our offerings.

Our commercial agreement with AWS will remain in effect until terminated by AWS or us. Even absent a breach by Lime, AWS may terminate the agreement for convenience after providing Lime with 30 days advance notice. In the event that our agreement with AWS is terminated or we add additional cloud infrastructure service providers, we may experience significant costs or downtime in connection with the transfer to, or the addition of, new cloud infrastructure service providers. Any of the above circumstances or events may harm our reputation and brand, reduce the availability or usage of our platform, lead to a significant short term loss of revenue, increase our costs, and impair our ability to retain or attract new riders, any of which could adversely affect our business, financial condition, results of operations, and prospects.

***Defects, errors, or vulnerabilities in our application, backend systems, or other technology systems and those of third-party technology providers, or system failures and resulting interruptions in our availability or the availability of other systems and providers, could harm our reputation and brand and adversely impact our business, financial condition, results of operations, and prospects.***

The software underlying our platform is highly complex and may contain undetected defects, errors or vulnerabilities, some of which may only be discovered after the code has been released. Where appropriate, we rely heavily on a software engineering practice known as "continuous integration and continuous deployment" (CI/CD) which refers to the frequent release of our software code, sometimes multiple times per day. While the virtue of CI/CD practices are well known, the practice may increase the risk of the rapid propagation of defects, errors, and vulnerabilities present in the code into our platform. The third-party software that we incorporate into our platform may also be subject to defects, errors or vulnerabilities. Any defects, errors or vulnerabilities discovered in our code or from third-party software after release could adversely impact the rider experience, result in negative publicity, loss of revenue and disrupt riders' access to our platform, or other operational or service performance issues. Such vulnerabilities could also be exploited by malicious actors and result in exposure of data of riders, or result in a cybersecurity breach or incident, or otherwise adversely impact the availability and performance of our platform. We may need to expend significant financial and development resources to analyze, correct, eliminate or work around errors or defects or to address and eliminate vulnerabilities. Any failure to timely and effectively resolve any such defects, errors, or vulnerabilities could adversely affect our business, financial condition, results of operations, and prospects as well as adversely affect our reputation or brand.

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***Claims by others that we infringed, misappropriated, or otherwise violated their intellectual property or other proprietary rights could harm our business.***

Third parties have, and in the future may, bring claims and/or lawsuits alleging our infringement, misappropriation, or violation of their intellectual property or other proprietary rights. We cannot guarantee that we have not, do not, or will not infringe, misappropriate, or otherwise violate the intellectual property or other proprietary rights of others. Our technologies may not be able to withstand any third-party claims against their use. Companies in the markets in which we operate are frequently subject to litigation based on allegations of infringement, misappropriation or other violations of intellectual property or other proprietary rights. In addition, certain companies and rights holders seek to enforce and monetize patents or other intellectual property or other proprietary rights they own, have purchased, or otherwise obtained. As our business continues to evolve and we become a publicly-traded company, the likelihood of intellectual property or other proprietary rights-based claims against us grows based on the following: increase in public profile, increases in revenue base, increases in the number of competitors in the cities we operate, our continued development of new technologies, new offerings, and new intellectual property, as well as continued international expansion. From time to time third parties may assert, and in the past have asserted, claims of infringement, misappropriation or other violations of intellectual property (such as patent rights) or other proprietary rights against us.

For example, third parties have made claims regarding various allegations of patent infringement. To the extent we hire any employees or other personnel from competitors, we may also be subject to allegations that such personnel have used or divulged to us proprietary or other confidential information to us. There can be no assurance that we will be successful in defending against allegations of infringing a third party's intellectual property or reaching a business resolution that is satisfactory to us. Relatedly, third parties may allege that our service providers or other persons retained or indemnified by us infringe on, misappropriate or otherwise violate such competitors' or other third parties' intellectual property or other proprietary rights, such that we may be required to indemnify such service providers or other persons. In addition, our competitors and others may now and in the future have significantly larger and more mature patent portfolios than us. Future litigation may involve patent holding companies or other adverse patent owners who have no relevant product or service revenue and against whom our own patents may therefore provide little or no deterrence or protection. Many potential litigants, including some of our competitors and patent-holding companies, have the ability to dedicate substantial resources to assert their intellectual property or other proprietary rights. Any claim of infringement by a third party, even those without merit, could cause us to incur substantial costs defending against the claim, could distract our management from our business, and an adverse outcome could require us to cease use of such intellectual property as well as pay substantial damages, legal fees, royalty payments, or other fees in connection with a claimant securing a judgment against us, including treble damages if we are found to have willfully infringed certain types of intellectual property. Furthermore, because of the substantial amount of discovery required in connection with intellectual property litigation, we risk compromising our confidential information during this type of litigation. Plaintiffs can also seek injunctive relief that may limit the operation of our business or prevent the marketing of our offerings that infringe, misappropriate, or otherwise violate, or allegedly infringe, misappropriate, or otherwise violate, on the plaintiff's intellectual property or other proprietary rights. If a third party is able to obtain an injunction preventing us from using our technology, accessing third-party intellectual property or other proprietary rights, or if we cannot license or develop alternative technology for any infringing aspect of our business, we could be forced to limit or stop the production or usage of our vehicles or cease other business activities related to such intellectual property. To resolve these claims, we may enter into licensing or settlement agreements with restrictive terms or significant fees, be required to implement costly redesigns of our vehicles, and/or pay substantial damages. If we do not resolve these claims in advance of a trial, there is no guarantee that we will be successful in court. These outcomes could adversely affect our business, financial condition, results of operations, and prospects.

With respect to any intellectual property or other proprietary rights claim, we may be required to seek a license to continue operations that are found to be in violation of such rights, which may not be

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available on favorable or commercially reasonable terms and may significantly increase our operating expenses. Such licenses are typically non-exclusive, and therefore our competitors and other third parties may have access to the same technology licensed to us. If a third party does not offer us a license to its intellectual property on reasonable terms, or at all, we may be required to redesign our platform or functionality therein or develop alternative, non-infringing technology, which could require significant time (during which we would be unable to continue to offer our vehicles), effort and expense and may ultimately not be successful. Any of these events could adversely affect our business, financial condition, results of operations, and prospects.

Claims of infringement, misappropriation or other violation may be extremely broad, and it may not be possible for us to operate our network and conduct our operations in such a way as to avoid all such alleged violations of such intellectual property or other proprietary rights. We also may be unaware of third-party intellectual property or other proprietary rights that cover or otherwise relate to some or all of our products and offerings. Moreover, the volume of intellectual property-related claims and the mere specter of threatened litigation could distract our management from the daily operations of our business. Some of the aforementioned risks of infringement, misappropriation or other violation, in particular with respect to patents, are potentially heightened due to the nature of our business, industry and intellectual property portfolio. We do not have a comprehensive patent portfolio, which could otherwise assist us in deterring patent infringement claims from third parties through our ability to bring patent infringement counterclaims using our own patent portfolio. In addition to the previously mentioned impacts of intellectual property-related litigation, while in some cases a third party may have agreed to indemnify us for costs associated with intellectual property-related litigation, such indemnifying third party may refuse or be unable to uphold its contractual obligations.

***Failure to seek, obtain, maintain, protect, defend, or enforce our intellectual property or other proprietary rights could harm our business, financial condition, results of operations, and prospects.***

Our success is dependent in part upon protecting our intellectual property or other proprietary rights (such as our rights in hardware designs, code, information, data, processes and other forms of information, know-how and technology), and as we grow, we expect to continue to develop intellectual property that is important for our existing and future business. We rely on a combination of patents, copyrights, trademarks, service marks, trade dress, trade secrets, and other forms of intellectual property, contractual restrictions, and confidentiality procedures to establish and protect our intellectual property and proprietary rights. However, the steps we take to protect our intellectual property or other proprietary rights may not be sufficient or effective, and may vary by jurisdiction. Even if we detect any third-party infringement, misappropriation, or other violations with respect to our intellectual property or other proprietary rights, we may need to engage in litigation to enforce our rights. Any enforcement efforts we undertake, including litigation, could be time-consuming and expensive and could divert management attention from the business and may not be successful. While we take precautions designed to protect our intellectual property, it may still be possible for competitors and other unauthorized third parties to copy or reverse engineer our technology, access or copy our data, and use our proprietary information to create or enhance competing offerings, which could adversely affect our position in our rapidly evolving and highly competitive industry. Some license provisions that protect against unauthorized use, copying, transfer, and disclosure of our technology prove insufficient or may be unenforceable under the laws of certain jurisdictions and foreign countries. The laws of some countries do not provide the same level of protection of our intellectual property or other proprietary rights as do the laws of the United States and effective intellectual property protections may not be available or may be limited in foreign countries. Our domestic and international intellectual property protection and enforcement strategy is influenced by many considerations including costs, where we have business operations, where we might have business operations in the future, legal protections available in a specific jurisdiction, and/or other strategic considerations. As such, we do not have identical or analogous intellectual property protection in all jurisdictions, which could risk freedom to operate in certain jurisdictions. As we expand our international activities, our exposure to unauthorized use, copying, transfer, and disclosure of proprietary information

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will likely increase. We may need to expend additional resources to protect, enforce or defend our intellectual property or other proprietary rights domestically or internationally, which could adversely affect our business, financial condition, results of operations, and prospects or adversely affect our domestic or international operations.

Our trademarks are valuable assets that support our brand, the perception of our platform and products, and distinguish our platform and products from those of our competitors. However, third parties may use trademarks and branding similar to ours, and we may not be able to adequately prevent such practices, which could harm the value of our business, result in the abandonment, dilution, or invalidity of trademarks associated with our business and adversely affect our results of operations, financial condition or prospects. Furthermore, third parties may claim that we have violated their trademark protections and seek substantial damages and/or injunctive relief. We may not prevail and could be subject to substantial damages and/or be foreclosed from using our trademarks. If we do prevail, we may spend significant resources having to defend our trademarks. Heightened competitive pressures that result in a loss of riders or a reduction in revenues or revenue growth rates, or failure to successfully maintain, defend, enforce, and enhance our brand and substantial expenses in attempts to maintain, defend, enforce and enhance our brand, could also adversely effect on our business, financial condition, results of operations, and prospects.

We have filed, and may in the future file, applications to protect certain of our innovations and intellectual property, including potentially seeking patent protection for any of our inventions. We do not know whether any of our applications will continue to result in the issuance of a patent, or effective registration of our trademarks or copyrights in our content and proprietary coding, as applicable, or whether the examination process will require us to narrow any proposed patent claims. In addition, we may not receive competitive advantages from the rights granted under our intellectual property or other proprietary rights. In certain instances, we may choose not to file a patent for certain inventions, instead choosing to rely on trade secret protection or know-how, and a third party may subsequently file a patent covering such intellectual property. Our existing intellectual property and proprietary rights, and any intellectual property granted to us, or that we otherwise acquire in the future, may be contested, circumvented, or invalidated, or may otherwise not be enforceable or sufficiently broad in scope. Therefore, the adequacy and exact effect of the protection of these intellectual property and proprietary rights cannot be predicted with certainty. In addition, given the costs, effort, and risks of obtaining patent protection, including the requirement to ultimately disclose the invention to the public, we may continue not to choose to seek patent protection for certain innovations. Further, the United States Patent and Trademark Office requires compliance with a number of procedural, documentary, fee payment, and other similar provisions during the patent and trademark registration process and after a registration has issued. For example, there are situations in which noncompliance can result in abandonment or cancellation of a patent or trademark filing, resulting in partial or complete loss of patent or trademark rights in the relevant jurisdiction or otherwise diminishing the value of our intellectual property and other proprietary rights. Any failure to comply with such requirements, or to otherwise adequately obtain patent protection, or other intellectual property protection, could later prove to adversely impact our business, financial condition, results of operations, and prospects.

We enter into confidentiality and invention assignment agreements with our employees, contractors, and consultants and enter into confidentiality agreements with our third-party technology providers and strategic partners. These confidentiality agreements are designed to protect our proprietary information and, in the case of agreements or clauses containing invention assignment, to grant us ownership of technologies that are developed through a relationship with employees or third parties. However, we may not have entered into confidentiality and invention assignment agreements with each of our employees, independent contractors, consultants, vendors, or other third parties, or we may not have fulfilled the requirements of such agreements such that we cannot enforce them, or such agreements may otherwise not be self-executing. In addition, no assurances can be given that those agreements will not be breached or that these agreements will be effective in controlling access to, and use and distribution of, our intellectual property and other proprietary, confidential, or sensitive information. Further, agreements

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with us may be ineffective in transferring us ownership of intellectual property developed by those individuals. We may in the future become subject to claims that we or our employees have inadvertently or otherwise used or disclosed trade secrets or other proprietary information of former employers. Litigation may be necessary to defend against these claims. If we fail in defending such claims, we may be forced to pay substantial monetary damages or be enjoined from using certain technology, aspects of our platform, aspects of our programs, or knowledge. Even if we are successful in defending against these claims, litigation could result in substantial costs and demand on management resources. Moreover, these agreements do not prevent our competitors from independently developing technologies that are substantially equivalent or superior to our offerings, without infringing our intellectual property or other proprietary rights. Competitors and other third parties may also attempt to access, aggregate, and/or reverse engineer our data which would compromise our trade secrets and other rights. The loss of our intellectual property or the inability to protect our proprietary technology against unauthorized copying or use could adversely affect our business, financial condition, results of operations, and prospects.

We may also enter into strategic collaboration relationships, joint development, and other similar agreements with third parties where intellectual property arising from such engagements may be allocated or licensed between the parties, or may be jointly-owned. Determining inventorship and ownership of technologies and intellectual property and other proprietary rights resulting from development activities can be difficult and uncertain. Such arrangements may limit our ability to protect, maintain, enforce, or commercialize such intellectual property and other proprietary rights, including requiring agreement with or payment to our joint development partners before protecting, maintaining, licensing, or initiating enforcement of such intellectual property and other proprietary rights, and may allow such joint development partners to register, maintain, enforce, or license such intellectual property and other proprietary rights in a manner that may affect the value of the jointly-owned intellectual property or our ability to compete in the market. Disputes may arise with third parties regarding ownership of and rights to use, protect and enforce these technologies and intellectual property or other proprietary rights, or regarding the interpretation of our agreements with these third parties, and these disputes may result in claims against us or claims that certain intellectual property or other proprietary rights are not owned by us, are not enforceable, or are invalid. The cost and effort to resolve these types of disputes, or the loss of rights in technologies in intellectual property or other proprietary rights if we lose these types of disputes, could harm our business and financial condition. In addition, third parties may suffer delays, quality issues, or other problems affecting their development activities and ability to supply us with certain technology and intellectual property, which could adversely affect our business, financial condition, results of operations, and prospects.

Moreover, even where we have effectively secured statutory protection for our intellectual property or other proprietary rights, our competitors and other third parties may infringe on, misappropriate, or otherwise violate our intellectual property or other proprietary rights, which could weaken our competitive position and erode our market share. We may be required to spend significant resources in order to monitor and protect our intellectual property or other proprietary rights, and we may or may not be able to detect infringement, misappropriation, or other violation by third parties. Litigation has been and may be necessary in the future to enforce our intellectual property rights and to protect our trade secrets. Such litigation could be costly, time-consuming, difficult to predict and distracting to management and could result in the impairment or loss of portions of our intellectual property. Our efforts to enforce our intellectual property or other proprietary rights may be met with defenses, counterclaims, and countersuits attacking the scope, validity and enforceability of our intellectual property or other proprietary rights, or our ownership thereof. An adverse determination of any litigation proceedings could put our intellectual property at risk of being invalidated, interpreted narrowly, or of not issuing or being cancelled. Our inability to protect our intellectual property and proprietary technology against unauthorized copying or use, as well as any costly litigation or diversion of our management's attention and resources, could impair the functionality of our platform, delay introductions of enhancements to our platform, result in our substituting inferior or more costly technologies into our platform and/or substantial damages or penalties (including treble damages for willful patent infringement), or harm our reputation or brand. There could also be public announcements of the results of hearings, motions, or other interim proceedings or developments.

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If securities analysts or investors perceive these results to be negative, it could adversely affect the price of our common stock. In addition, we may be required to license additional technology from third parties to develop new offerings, which may not be on commercially reasonable terms, or at all, and could adversely affect our ability to compete. Our inability to license this technology could harm our ability to compete and have a material and adverse effect on our business, financial condition, results of operations, and prospects.

The technology industry has also been subject to attempts to steal intellectual property, including by foreign actors. We, along with others in our industry, may be subject to attempted thefts of our intellectual property in the future. Although we take measures to protect our property, if we are unable to prevent the theft of our intellectual property or its exploitation, the value of our investments may be undermined and our business, financial condition, results of operations, and prospects may be adversely affected.

**Risks Related to Legal and Regulatory Matters**

***We are regularly subject to claims from riders or third parties that allege injury or harm, which could adversely affect our brand, business, financial condition, results of operations, and prospects.***

We are regularly subject to claims, litigation, investigations, and other legal proceedings relating to injuries to, or deaths of, riders or third parties. This includes claims alleging, among other things, product defect, design defect, manufacturing defect, failure to warn, negligent maintenance, negligent entrustment for harm to third parties caused by a rider, public nuisance or trespass, Americans with Disabilities Act violations alleging, for example, injury from tripping over a vehicle or vehicles blocking public access, or that we are directly or vicariously liable for harm to riders or third parties. In addition, the terms of many of our permits require that we provide a defense and indemnity to the city against certain allegations relating to Lime's operations in that city, including in certain instances allegations arising from factors outside of Lime's control, including, for example, road conditions or other city infrastructure. Although we advise platform users of local requirements, including applicable helmet laws, and, in some cases, may provide helmets or promotional codes for helmets in accordance with local regulations, riders may not be technically proficient in using our offerings, and they may not know to wear, or intentionally choose not to wear, protective equipment designed to enhance the safety of such offerings, including helmets. Rider error, together with the failure to use protective equipment, increases the risk of injuries or death while using these offerings. Non-compliance with traffic laws, as well as urban hazards such as unpaved or uneven roadways, increases the risk and severity of potential injuries. In addition, we provide our offerings predominantly in metropolitan areas, where riders using our vehicles need to share, navigate, and at times contend with narrow and heavily congested roads occupied by cars, buses, and light rails, especially during peak "rush" hours, all of which heighten the potential of injuries or death. Riders using our e-scooters or e-bikes face a more severe level of injury in the event of a collision than that faced while riding in an automobile, given the less sophisticated, and in some cases absent, passive protection systems on e-scooters and e-bikes.

We have in the past, and expect in the future to incur substantial expenses in connection with these claims, including adverse judgments and awards and the costs of defense. We may choose to settle personal injury claims for reasons including expediency, protection of our reputation, and to avoid the uncertainty of litigation. We expect that expenses for claim and litigation related to personal injury claims will increase — both the costs of defense and adverse judgments, awards or settlements — as our business grows and we face increasing public scrutiny. Regardless of the outcome of any legal proceeding, injuries to, or deaths of, any riders or third parties have and could again in the future result in negative publicity and harm to our brand, reputation, business, financial condition, results of operations, and prospects. Our insurance policies and programs, which include self-insured retentions, may not provide sufficient coverage to adequately mitigate the liability we face, especially where any one incident, or a group of incidents, could cause disproportionate harm, and we may have to pay high premiums or deductibles for our coverage and, for certain situations and/or categories of claims, we may not be able to secure coverage at all.

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***Our vehicles may experience issues from time to time, which could result in recalls or removal from service, injuries, litigation, enforcement actions, class actions, and regulatory proceedings, and could adversely affect our business, brand, reputation, financial condition, results of operations, and prospects.***

We design and contract to manufacture with third parties, and directly and indirectly modify, maintain, and repair, our fleet of e-scooters and e-bikes. Such e-scooters and e-bikes have in the past and may in the future contain product issues related to their design, materials, or construction, may be improperly maintained or repaired, or may be subject to vandalism. Because we contract with third parties to manufacture our vehicles, we have less visibility into and control over the manufacturing processes than if we manufactured them ourselves. These product issues could interfere with the intended operations of our e-scooters or e-bikes, which could result in safety concerns, including allegations of injuries to riders or third parties. In response, we have taken action to replace, modify, increase maintenance frequency, or limit the use of such products, and may need to do so in the future. There can be no assurance that our procedures will be able to detect, prevent, or fix all product issues.

Failure to detect, prevent, fix, or timely report real or perceived product issues and vandalism or to properly maintain or repair our e-scooters and e-bikes could result in a variety of consequences, including recalls and removal from service, service interruptions, injuries, litigation, enforcement actions, including substantial damages, fines and penalties, regulatory proceedings, required changes to our product, and negative publicity. Even if injuries to riders or third parties are not the result of any product issues in, vandalism of, or the failure to properly maintain or repair our e-scooters or e-bikes, we may incur expenses to defend or settle any claims or respond to regulatory inquiries, and our brand and reputation may be harmed. In addition, the battery packs in our vehicles use lithium-ion cells. Lithium-ion cells can rapidly release the energy they contain by venting smoke and flames in a manner that can cause burns and other injuries or ignite nearby materials, as well as other lithium-ion cells. We take certain precautions to reduce the risks of such events, but we cannot guarantee that such events will not occur. Any of the foregoing risks could also result in decreased usage of our vehicles and adversely affect our business, brand, reputation, financial conditions, results of operations, and prospects.

While we carry general liability insurance worldwide that is intended to cover incidents associated with Lime vehicles, and product liability insurance that is intended to insure against injuries sustained by riders on our vehicles, these claims may exceed that coverage and/or may ultimately damage our reputation or decrease ridership, any of which could materially impact our business, financial condition, results of operations, and prospects. We cannot be certain that our insurance coverage will be adequate for such liabilities, that insurance will continue to be available to us on commercially reasonable terms, or at all, or that any insurer will not deny coverage as to any future claim. The successful assertion of one or more large claims against us that exceed available insurance coverage, or the occurrence of changes in our insurance policies, including premium increases, increases to self-insured retentions, or the imposition of large deductible or co-insurance requirements, or the inability to obtain insurance coverage at all could adversely affect our reputation, brand, business, financial condition, results of operations, and prospects.

***We rely on third-party insurance policies to insure against risks related to our business. If insurance carriers change the terms of such insurance in a manner not favorable to us, if our insurance coverage is insufficient, if we are required to purchase additional insurance, if regulations governing insurance coverages change, or if our insurance providers are unable or unwilling to meet their obligations, our business, financial condition, results of operations, and prospects could be adversely affected.***

We rely on a combination of third-party insurance and retention mechanisms to cover various business and micromobility-related risks, including, but not limited to, general liability, automobile liability, excess liability, workers' compensation, property, cyber liability, and directors' and officers' liability. To comply with certain city and country insurance regulatory requirements for micromobility-related risks, in certain jurisdictions we also obtain rider insurance coverages. Rider insurance coverages, a relatively

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new insurance product specific to the micromobility industry, may include rider liability for third-party bodily injury and property damage and injury coverage to the rider themselves. Rider insurance coverages and limits vary by vehicle type and jurisdiction and are mostly obtained outside of the United States.

We rely on a limited number of insurance carriers, particularly for our business and micromobility-related risks. If our insurance carriers discontinue coverage or change the terms of our policies in a manner not favorable to us by increasing premiums, deductibles, or self-insured retentions, we could be liable for significant additional costs. We cannot guarantee that we would be able to secure replacement coverage on reasonable terms or timelines, or at all. In addition, we may not obtain enough insurance to adequately mitigate such business and micromobility-related risks or risks related to our new and evolving offerings, and we may have to pay high premiums, deductibles or self-insured retentions for coverage we do obtain.

If the amount of one or more business or micromobility-related claims exceed our applicable aggregate coverage limits, we would bear the excess costs, in addition to the amounts already incurred in connection with premiums paid, deductibles, or self-insured retentions. Certain losses may be excluded from insurance coverage. For example, the terms of many of our permits require that we provide a defense and indemnity to a city against certain allegations relating to Lime's operations in that city, including in certain instances arising from factors outside of Lime's control, including, for example, road conditions or other city infrastructure. Our insurance excludes coverage for claims that are only against the city, where Lime is not a named party.

In addition, we are subject to local laws, rules, and regulations relating to insurance coverage. If regulators require more comprehensive insurance or alter the types of insurance required, we may incur additional expenses. For example, in certain countries our vehicles are classified as motor vehicles, and in those countries our premiums are higher than countries where our vehicles are not classified as such. Increasing the breadth of coverage and coverage limits would increase our insurance and claims expenses.

Additionally, if any of our insurance carriers becomes insolvent, it would be unable to pay any business or micromobility-related claims that we make.

***Our insurance claims reserve may be inadequate, which could adversely affect our business, financial condition, results of operations, and prospects.***

We establish a claims reserve for unpaid losses and loss adjustment expenses for risks retained by us through our retention mechanisms. Estimating the number and severity of claims, as well as related judgment or settlement amounts, is inherently complex, subjective, and speculative. We employ various predictive modeling and actuarial techniques and make numerous assumptions based on available historical experience and industry statistics to estimate our claims reserve.

While management believes that our claims reserve amounts are adequate, the ultimate liability could be in excess of our claims reserves. A number of external factors can affect the losses incurred, including but not limited to, claim reporting delays, the length of time the claim remains open, increases in healthcare costs, legislative and regulatory developments, judicial developments, the general trend of increasing settlement amounts in litigation, and other unexpected events. If we determine that our estimated claims reserve is inadequate, we may be required to increase such claims reserve at the time of the determination, which could negatively impact our financial results in the period in which the shortfall is determined and adversely affect our business, financial condition, results of operations, and prospects.

***We are regularly subject to claims, litigation, government investigations, and other proceedings that may adversely affect our business, financial condition, results of operations, and prospects.***

We are regularly subject to claims, litigation, arbitration proceedings, government and regulatory investigations, and other legal and regulatory proceedings in the ordinary course of business, including

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those involving product liability and personal injury, property damage, labor and employment, worker classification, anti-discrimination, commercial disputes, competition, consumer complaints, intellectual property disputes, compliance with regulatory requirements, class actions, representative actions (including those brought under PAGA), and other matters, and we may become subject to additional claims, litigation, government investigations, and legal or regulatory proceedings as our business grows and as we deploy new offerings or enter new cities, including proceedings related to acquisitions, data privacy, intellectual property, advertising, securities issuances, or business practices.

The results of any such claims, litigation, class actions, regulatory actions, or other proceedings cannot be predicted with any certainty. Any claims against us, whether meritorious or not, could be time-consuming, result in costly litigation, be harmful to our reputation, require significant management attention, divert significant resources, and result in significant monetary awards, potential injunctive relief or consent decrees, or other remedies. Determining reserves for our pending litigation is a complex and fact-intensive process that requires significant subjective judgment and speculation. It is possible that a resolution of one or more such proceedings could result in substantial damages or settlement costs, penalties, and fines that could adversely affect our business, financial condition, results of operations, and prospects. These proceedings could also result in harm to our reputation and brand, sanctions, consent decrees, injunctions, or other orders requiring a change in our business practices. Any of these consequences could adversely affect our business, financial condition, results of operations, and prospects. Furthermore, under certain circumstances, we have contractual and other legal obligations to indemnify and to incur legal expenses on behalf of our business, commercial, and government partners and current and former directors and officers. For example, the terms of many of our permits require that we provide a defense and indemnity to the city against certain allegations relating to Lime's operations in that city, including in certain instances allegations arising from factors outside of Lime's control, including, for example, road conditions or other city infrastructure. We do not carry insurance coverage for claims that are only against the city, where Lime is not a named party. Furthermore, a determination in, resolution of, or settlement of, any threatened action or legal proceeding, whether we are party to such legal proceeding or not, that involves our industry, could harm our business, financial condition, results of operations, and prospects.

In addition, we regularly include arbitration provisions in our terms of service with our riders, and seek to compel arbitration in many of our litigations. These provisions are intended to streamline the litigation process for all parties involved, as arbitration can be faster and less costly than litigating disputes in state or federal court. Although we have generally been successful in enforcing our arbitration provisions, a court or arbitrator could rule them unenforceable as these are regularly contested by plaintiff's counsel. Arbitration agreements also could subject us to reputational risks as arbitration agreements sometimes have been the subject of negative media reports. If the number of arbitrations increased significantly, the arbitration fees that we would be required to pay would become more costly and burdensome. We may choose to limit or abandon our use of arbitration agreements or may be required to do so in legal proceedings or per our city permits, which could result in increased exposure to potentially costly and burdensome litigation, which could adversely affect our business, financial condition, results of operations, and prospects.

***We have faced and are likely to continue to face litigation and administrative penalties from local governmental entities, municipalities, and private citizens related to the parking of our vehicles.***

We have been, and expect to continue to be, involved in claims, litigation (judicial and administrative), arbitration, and other actions brought by governmental entities, municipalities, and private citizens alleging a variety of causes of actions, including among other things, failure to operate with proper local permits, public nuisance, trespass, and Americans with Disabilities Act violations related to the placements or inappropriate parking of our vehicles on public and private property, interfering with others' use and enjoyment of, and access to, public and private property, and personal injuries and property damages caused by such placement. The defense of these matters and associated outlays has and could continue to significantly increase our operating expenses. In addition, if we are determined to have violated applicable law or regulation, or we settle or compromise these disputes, we may become

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required to change our operations or offerings in certain cities or globally, to change material components of our business strategy, to cease operations in one or more cities, and/or to pay substantial damages or fines. In the event that we are required to take one or more such actions, our business, financial condition, results of operations, and prospects could be adversely affected. In addition, any litigation or claims, whether or not valid, could result in substantial costs, negative publicity, and diversion of resources and management attention.

***Taxing authorities may successfully assert that we should have collected or in the future should collect sales and use, gross receipts, value added, or similar taxes and may successfully impose additional obligations on us, and any such assessments or obligations could adversely affect our business, financial condition, results of operations, and prospects.***

The application of indirect taxes, such as sales and use tax, payroll tax, value-added tax, goods and services tax, business tax, and gross receipts tax, to businesses like ours is a complex and evolving issue. Many of the fundamental statutes and regulations in U.S. and non-U.S. jurisdictions, and subdivisions thereof, that impose these taxes were established before the adoption and growth of the Internet and e-commerce. Significant judgment is required on an ongoing basis to evaluate applicable tax obligations, and as a result, amounts recorded are estimates and are subject to adjustments. In many cases, the ultimate tax determination is uncertain because it is not clear how new and existing statutes might apply to our business.

In addition, local governments are increasingly looking for ways to increase revenue, which has resulted in discussions about tax reform and other legislative action to increase tax revenue, including through indirect taxes and fees. Such taxes and fees could adversely affect our business, financial condition, results of operations, and prospects.

In certain jurisdictions, we collect and remit indirect taxes. However, tax authorities may raise questions about, challenge, or disagree with our calculation, reporting, or collection of taxes and may require us to collect taxes in jurisdictions in which we do not currently do so or to remit additional taxes and interest, and could impose associated penalties. This could result in substantial tax liabilities, including taxes on past transactions, as well as penalties and interest, and could discourage riders from utilizing our offerings or could otherwise harm our business, financial condition, results of operations, and prospects. Although we have reserved for potential payments of possible past tax liabilities in our financial statements, if these liabilities exceed such reserves, our business, financial condition, results of operations, and prospects could be adversely affected.

Additionally, authorities in countries, states, localities, or other taxing jurisdictions may seek to impose additional reporting, record-keeping, or indirect tax collection obligations on businesses like ours. For example, taxing authorities in the United States and other countries have identified e-commerce platforms as a means to calculate, collect, and remit indirect taxes for transactions taking place over the Internet, and are considering related legislation. New legislation may require us to incur substantial costs in order to comply, including costs associated with tax calculation, collection, remittance, and audit requirements, which could make our offerings less attractive and could adversely affect our business, financial condition, results of operations, and prospects.

As a result of these and other factors, the ultimate amount of tax obligations owed may differ from the amounts recorded in our financial statements and any such difference may adversely impact our financial condition and results of operations in future periods in which we change our estimates of our tax obligations or in which the ultimate tax outcome is determined.

***Failure to deal effectively with fraud could harm our business.***

We have in the past incurred, and may in the future incur, losses from various types of fraud, including use of stolen or fraudulent credit card data, claims of unauthorized payments by riders, attempted payments by riders with insufficient funds, and other fraud committed by riders or third parties. Bad actors use increasingly sophisticated methods to engage in illegal activities, including those involving

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personal information, such as unauthorized use of another person's identity, account information, or payment information, and unauthorized acquisition or use of credit or debit card details, bank account information, and mobile phone numbers and accounts. Under current card payment practices, we may be liable for rides facilitated on Lime with fraudulent credit card data, even if the associated financial institution approved the credit card transaction. Despite measures that we have taken to detect and reduce the occurrence of fraudulent or other malicious activity on Lime, we cannot guarantee that any of our measures will be effective or will scale efficiently with our business. Our inability to adequately detect or prevent fraudulent transactions could harm our reputation or brand, result in litigation or regulatory action and lead to expenses that could adversely affect our business, financial condition, results of operations, and prospects.

We have also incurred, and may in the future incur, losses from fraud, and other misuse of Lime by riders, such as vehicle theft or hijacking resulting in unpaid trips or vandalism. For example, we have experienced and could continue to experience lost revenue from actual and alleged unauthorized rides fulfilled and distance traveled. If we are unable to adequately anticipate and address such misuse either through increased controls or other means, our business, financial condition, results of operations, and prospects could be adversely affected.

***Changes in laws or regulations relating to data privacy, data protection, or the protection or transfer of personal data, or any actual or perceived failure by us to comply with such laws and regulations or any other obligations relating to data privacy, data protection, or the protection or transfer of personal data, could adversely affect our business, financial condition, results of operations, and prospects.***

We collect, receive, transmit, store, and otherwise process a large volume of personal information (such as names, trip and location data, e-mail addresses, telephone numbers, government-issued identification, device IP addresses, and payment information) and other data relating to our riders and logistics providers in order to operate our business. We also share rider data with cities, local authorities, and public transport operators if contractually required for us to operate in certain cities.

Numerous local, municipal, state, federal, and international laws and regulations address data privacy, data protection, and the collection, storing, sharing, use, disclosure, and protection of certain types of data, including the California Online Privacy Protection Act, the Personal Information Protection and Electronic Documents Act, Section 5(c) of the Federal Trade Commission Act, and the California Consumer Privacy Act, as amended by the California Privacy Rights Act (collectively, "CCPA"), and the EU General Data Protection Regulation ("EU GDPR") and the U.K. Data Protection Act of 2018 ("UK GDPR") (the EU GDPR and the UK GDPR together referred to as the "GDPR"). Data protection laws may be broadly construed, impose administrative burdens, permit private rights of action, and/or continually change and may be inconsistent from one jurisdiction to another. For example, the CCPA requires certain disclosures to California consumers and affords such consumers certain data rights and abilities to opt-out of certain sharing of personal information. The GDPR is wide-ranging in scope and imposes numerous obligations in relation to our collection and use of personal information, including a principle of accountability and the obligation to demonstrate compliance through policies, procedures, trainings and audits, as well as regulating cross-border transfers of personal data out of the European Economic Area ("EEA"). In relation to such cross-border transfers of personal data, we expect the existing legal complexity and uncertainty regarding international personal data transfers to continue. As the regulatory guidance and enforcement landscape in relation to data transfers continue to develop, we could suffer additional costs, complaints or regulatory investigations or fines; we may have to stop using certain tools and vendors and make other operational changes; we may have to implement alternative data transfer mechanisms under the GDPR or take additional compliance and operational steps; or it could otherwise affect the manner in which we provide our offerings and could adversely affect our business, financial condition, results of operations, and prospects.

An increasing number of states in the United States, including states where we do business, have enacted legislation relating to data privacy and cybersecurity, and the U.S. federal government and other

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states are also contemplating federal and state data privacy legislation. These new and modified laws, including the CCPA, and other changes in laws or regulations relating to data privacy, data protection, and cybersecurity, particularly any new or modified laws or regulations that require enhanced protection of data or new obligations with regard to data retention, transfer, disclosure or other processing, could greatly increase the cost of operating our business, require significant changes to our operations and our data processing practices and policies, may require us to incur additional compliance-related costs and expenses, and may even prevent us from operating in jurisdictions in which we currently operate and in which we may operate in the future. Further, as we continue to expand into new geographies, we will become subject to additional data privacy-related laws and regulations.

Additionally, we have incurred, and expect to continue to incur, significant expenses in an effort to comply with data privacy, data protection, and cybersecurity standards imposed by law, regulation, or contractual obligations. In particular, with laws and regulations such as the GDPR and U.S. state data privacy laws imposing new and relatively burdensome obligations, and with substantial legal and regulatory uncertainty over the interpretation and application of the CCPA, the GDPR, and other laws and regulations, we may face challenges in addressing their requirements and making necessary changes to our policies and practices, and may incur significant costs and expenses in an effort to do so. As we consider continued expansion into additional cities and countries and as laws and regulations change, we expect to incur additional compliance costs related to data privacy, data protection, and cybersecurity standards and protocols imposed by laws, regulations, rules, standards, or contractual obligations related to such expansion and face additional risks that such expansion could be inconsistent with, or fail, or be alleged to fail to meet all requirements of such laws, regulations, or obligations.

Despite our efforts to comply with applicable laws, regulations, rules, standards, and other obligations relating to data privacy, data protection, and cybersecurity, these laws, regulations, rules and standards are in some cases relatively new and the interpretation and application of these laws, regulations, rules and standards are uncertain. As such, our practices or offerings could be, or could be perceived to be, inconsistent with, or fail or be alleged to fail to meet the requirements of, such laws, regulations, rules, standards or obligations. Data privacy regulators have from time to time asked us for information about our practices and it is possible that they could ask further questions, open a formal investigation or prevail in an action against us. Our failure, or the failure by our partners, to comply with applicable laws, regulations, rules, standards or other actual or asserted obligations relating to data privacy, data protection, or cybersecurity, or any compromise of cybersecurity that results in unauthorized access to, or unauthorized loss, unavailability, corruption, use, exfiltration, release, or other processing of information or other rider data, or the perception that any of the foregoing types of failure or compromise has occurred, could damage our reputation, discourage new and existing riders from using Lime, or result in investigations or proceedings by governmental agencies, orders to cease or change our data processing activities, enforcement notices, assessment notices for a compulsory audit, criminal penalties and other substantial claims, penalties or fines, and private claims and litigation (including class actions), any of which could require us to fundamentally change our business activities, modify our platform or offerings, or otherwise adversely affect our business, financial condition, results of operations, and prospects. Because we are under the supervision of relevant data protection authorities in both the EEA and the UK, we may be fined under both the EU GDPR and UK GDPR for the same breach. Furthermore, we may also be required to disclose personal information pursuant to demands from individuals, regulators, government authorities, and law enforcement agencies in a variety of jurisdictions with conflicting laws and regulations. Such disclosure may result in adverse media coverage or noncompliance with a rule or regulation. Additionally, the perception of concerns relating to data privacy, data protection, or cybersecurity, whether or not valid, may harm our reputation and brand and adversely affect our business, financial condition, results of operations, and prospects.

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***Illegal, improper or otherwise inappropriate activity of riders, whether or not occurring while using our vehicles, could impact our ability to obtain or maintain permits, expose us to liability and harm our business, brand, financial condition, results of operations, and prospects.***

From time to time, illegal, improper, or otherwise inappropriate activities by riders and guest riders in violation of our user agreement, including the activities of individuals who may have previously engaged with, but are not then receiving offerings offered through Lime, results in injuries to themselves or third parties and claims or litigation against us, and could adversely affect our brand, business, financial condition, results of operations, and prospects. For example, actions of our riders and guest riders, including assault, theft, reckless riding, riding under the influence, improper parking of vehicles, unauthorized use of credit cards, debit cards, or bank accounts, sharing of rider accounts, and other misconduct, could lead to violations of our permit requirements, and damage to our brand and reputation. Repeated inappropriate rider behavior could significantly impact relationships with cities, which could adversely impact our ability to continue operating in that city. For example, cities may limit the number of our vehicles that are allowed to operate, suspend our service offering, and/or revoke any permits or licenses. These inappropriate rider behaviors could also lead other riders, cities, and the general public to believe that our vehicles are not safe or are a nuisance, which would harm our reputation. Further, any negative publicity related to the foregoing, whether such incidents occurred with our vehicles or those of our competitors, could adversely affect public perception of the shared micromobility industry as a whole, which could adversely affect the demand for our vehicles, and potentially lead to increased regulatory or litigation exposure.

***Any failure to comply with export controls and economic sanctions laws and regulations of the United States and applicable international jurisdictions could materially adversely affect our reputation, business, financial condition, results of operations, and prospects.***

Our business must be conducted in compliance with applicable export controls and economic and trade sanctions laws and regulations, such as those administered and enforced by the U.S. Department of Treasury's Office of Foreign Assets Control, the U.S. Department of State, the U.S. Department of Commerce, the United Nations Security Council, and other relevant export controls and sanctions authorities in which we conduct business activities. Our global operations expose us to the risk of violating, or being accused of violating, export controls, and economic and trade sanctions laws and regulations. Our failure to comply with these laws and regulations may expose us to reputational harm as well as significant penalties, including criminal fines, imprisonment, civil fines, disgorgement of profits, injunctions, and debarment from government contracts, as well as other remedial measures. Investigations of alleged violations can be expensive and disruptive regardless of outcome. Despite our compliance efforts and activities we cannot assure compliance by our employees or operational workforce for which we may be held responsible, and any such violation could materially adversely affect our reputation, business, financial condition, results of operations, and prospects.

***We are subject to anti-corruption, anti-bribery, anti-money laundering, and similar laws, and non-compliance with such laws can subject us to criminal or civil liability and harm our business, financial condition, results of operations, and prospects.***

We are subject to the U.S. Foreign Corrupt Practices Act, U.S. domestic bribery laws, and other anti-corruption and anti-money laundering laws in the countries in which we conduct business activities (e.g. the UK Bribery Act), which include some countries known to experience high levels of corruption. Anti-corruption and anti-bribery laws are interpreted broadly to generally prohibit companies, their employees, and their third-party intermediaries from authorizing, offering, or providing, directly or indirectly, improper payments or benefits to recipients in the public or private sector. Our current and future business operations involve regular engagement with business partners, third-party intermediaries, officials, and employees of government agencies or state-owned or affiliated entities to market our offerings and to obtain necessary permits, licenses, and other regulatory approvals. We can potentially be investigated and/or held liable for the corrupt or other illegal activities of these third-party intermediaries, our employees, representatives, contractors, partners, and agents, even if we do not explicitly authorize such

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activities. Despite our compliance efforts and activities, we cannot assure you that all of our employees and agents will not take actions in violation of anti-corruption laws, for which we may be ultimately held responsible, or that our compliance program will be capable of timely detecting and/or avoiding such actions, if at all. As we expand our business and increase our international business, our risks under these laws may increase.

Detecting, investigating, and resolving actual or alleged violations of anti-corruption laws can require a significant diversion of time, resources, and attention from senior management. In addition, noncompliance with anti-corruption, anti-bribery, or anti-money laundering laws could subject us to whistleblower complaints, investigations, sanctions, settlements, prosecution, enforcement actions, fines, damages, other civil or criminal penalties or injunctions, suspension or debarment from contracting with certain persons, reputational harm, adverse media coverage, and other collateral consequences. If any subpoenas or investigations are launched, or governmental or other sanctions are imposed, regardless of whether we prevail in any subsequent civil or criminal proceeding, our business, financial condition, results of operations, and prospects could be adversely affected. In addition, responding to any action will likely result in a materially significant diversion of management's attention and resources and significant defense costs and other professional fees regardless of outcome.

**General Risk Factors**

***We may require additional capital, which may not be available on terms acceptable to us or at all.***

The growth of our business and our fleets are capital and operations intensive. Historically, we have funded our capital-intensive operations and capital expenditures primarily through equity, equity-linked and debt issuances and cash generated from our operations. To support our growing business, we must have sufficient capital to continue to make significant investments in our offerings. If we raise additional funds through the issuance of equity, equity-linked, or debt securities, those securities may have rights, preferences, or privileges senior to those of our common stock, and our existing stockholders may experience dilution. Any debt financing secured by us, and any financing secured in the future could, involve restrictive covenants relating to our capital-raising activities and other financial and operational matters, which may make it more difficult for us to obtain additional capital and to pursue business opportunities.

We evaluate financing opportunities from time to time, and our ability to obtain financing will depend, among other things, on our development efforts, business plans, operating performance, and the condition of the capital markets at the time we seek financing. Additionally, uncertain and volatile macroeconomic conditions, including economic instability or uncertainty, and other events, such as slowing growth in the worldwide economy, inflation, and high interest rates, as well as the instability and volatility in the banking and financial services sector, and the war in Ukraine and in the Middle East, have adversely affected the financing markets, and may impact our access to capital, and make additional capital more difficult or available only on terms less favorable to us. We cannot be certain that additional financing will be available to us on favorable terms, or at all. 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 limited, and our business, financial condition, results of operations, and prospects could be adversely affected.

***We have incurred a significant amount of debt and may in the future incur additional indebtedness. Our payment obligations under such indebtedness may limit the funds available to us, and the terms of our current or future debt agreements contain or will contain restrictive covenants that may limit our operating flexibility.***

As of March 31, 2026, the total principal amount of our outstanding indebtedness, inclusive of payment in kind interest ("PIK interest"), was $821.1 million. We issued $536.1 million aggregate principal amount of the 2021 Notes (as defined below), inclusive of PIK interest, which we expect will be converted into shares of our common stock in connection with this offering in accordance with their terms, and

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approximately $170.0 million aggregate principal amount of the 2020 Notes (as defined below), and had an aggregate principal amount of $115.0 million in borrowings under the Senior Secured Term Loan (as defined below) as of March 31, 2026. Subject to the limitations in the terms of our existing and future indebtedness, we and our subsidiaries may incur additional debt, secure existing or future debt, or refinance our debt.

We intend to use a portion of the net proceeds of this offering to repay all amounts outstanding under the Senior Secured Term Loan. We will be required to use a portion of our future cash flows from operations to pay interest and principal on our remaining and future indebtedness. Such payments will reduce the funds available to use for working capital, capital expenditures, and other corporate purposes, and limit our ability to obtain additional financing for working capital, capital expenditures, expansions plans, and other investments, which may in turn limit our ability to implement our business strategy, heighten our vulnerability to downturns in our business, the industry, or in the general economy, and prevent us from taking advantage of business opportunities as they arise.

In addition, future debt agreements may contain, restrictive covenants, that, among other things, limit our ability to transfer or dispose of assets, merge with other companies or consummate certain changes of control, acquire other companies, incur additional indebtedness and liens and enter into new businesses. We therefore may not be able to engage in any of the foregoing transactions unless we obtain the consent of the lenders under future debt agreements, which may limit our operating flexibility. Any inability to comply with the terms of any future debt agreement, including failing to make scheduled payments or to meet the financial covenants, would adversely affect our business, financial condition, results of operations, and prospects.

***Our metrics and estimates, including our key metrics, are subject to inherent challenges in measurement, and real or perceived inaccuracies in those metrics may harm our reputation and adversely affect our business, financial condition, results of operations, and prospects.***

We regularly review and may adjust our processes for calculating our metrics used to evaluate our growth, measure our performance, and make strategic decisions. For instance, we currently aggregate and analyze rider metrics based on geographic boundaries and designations that do not align with the municipal or district boundaries according to which permits are issued. These metrics are calculated using internal company data and have not been evaluated by a third party. For example, although our rider metrics treat London as a single city, our operations in London require obtaining and complying with several different permits within that market. Our metrics may differ from estimates published by third parties or from similarly titled metrics of our competitors due to differences in methodology or the assumptions on which we rely, and from time to time we have made adjustments to our processes for calculating our metrics in order to enhance accuracy, reflect newly available information, address errors in our models, or other reasons, and we may make material adjustments in the future, which may result in changes to our metrics. The estimates and forecasts we disclose relating to the size and expected growth of our market opportunity may prove to be inaccurate. Even if the markets in which we compete meet the size estimates and growth we have forecasted, our business could fail to grow at similar rates, if at all. Further, as our business develops, we may introduce, revise, or cease reporting certain metrics if we change how we manage our business such that new metrics are appropriate, if we determine that revisions are required to accurately or appropriately measure our performance, or if one or more metrics no longer represents an effective way to evaluate our business. If investors or analysts do not consider our metrics to be accurate representations of our business or compare our metrics to third-party estimates or similarly titled metrics of our competitors or others in our industry that are not calculated on the same basis, or if we discover material inaccuracies in our metrics, then the trading price of our common stock and our business, financial condition, results of operations, and prospects could be adversely affected.

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***If we are unable to make acquisitions and investments, or successfully integrate them into our business, or if we enter into strategic transactions that do not achieve our objectives, our business, financial condition, results of operations, and prospects could be adversely affected.***

As part of our business strategy, we will continue to consider a wide array of potential strategic transactions, including acquisitions of businesses, new technologies, offerings, and other assets and strategic investments that complement our business, as well as partnerships and other transactions. We have previously acquired and invested in, and we continue to seek to acquire and invest in businesses, technologies, or other assets that we believe could complement or expand our business, including acquisitions of new lines of business, new geographies, and other opportunities that operate in relatively nascent industries. We also may explore investments in new technologies, which we may develop or other parties may develop. The identification, evaluation, and negotiation of potential acquisition or strategic investment transactions may divert the attention of management and entail various expenses, whether or not such transactions are ultimately completed. There can be no assurance that we will be successful in identifying, negotiating, and consummating favorable transaction opportunities. Additionally, if we are unable to obtain regulatory approval of any acquisitions, we may not ultimately consummate such acquisitions, may be required to pay termination fees or may consummate them only in jurisdictions where antitrust approval is obtained. Further, in order to obtain regulatory approval of acquisitions, we may be required to divest all or part of our or the target company's operations or agree to other remedies.

These transactions involve numerous risks, any of which could harm our business and adversely affect our financial condition, results of operations, and prospects, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• intense competition for suitable acquisition targets, which could increase prices and adversely affect our ability to consummate deals on favorable or acceptable terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure or material delay in closing a transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• transaction-related litigation or claims;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulties in integrating the technologies, operations, existing contracts, and personnel of an acquired company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulties in retaining key employees or business partners of an acquired company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• diversion of financial and management resources from existing operations or alternative acquisition opportunities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure to realize the anticipated benefits or synergies of a transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure to identify the problems, liabilities, or other shortcomings or challenges of an acquired company or technology, including issues related to intellectual property, regulatory compliance practices, litigation, revenue recognition, or other accounting practices, or employee or rider issues;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• risks that regulatory bodies may enact new laws or promulgate new regulations that are adverse to an acquired company or business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• theft of our trade secrets or confidential information that we share with potential acquisition candidates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• risk that an acquired company or investment in new offerings cannibalizes a portion of our existing business; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adverse market reaction to an acquisition.

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If we fail to address the foregoing risks or other problems encountered in connection with past or future acquisitions of businesses, new technologies, offerings, and other assets, strategic investments, or other transactions, or if we fail to successfully integrate such acquisitions or investments, or if we are unable to successfully complete other transactions or such transactions do not meet our strategic objectives, our business, financial condition, results of operations, and prospects could be adversely affected.

***Changes in U.S. and foreign tax laws could adversely affect our business, financial condition, results of operations, and prospects.***

We are subject to tax laws, regulations, and policies of the U.S. federal, state, and local governments and of taxing authorities in foreign jurisdictions. As various levels of governments and international organizations become increasingly focused on tax reform, changes in tax laws, as well as other factors, could cause us to experience fluctuations in our tax obligations and effective tax rates and otherwise adversely affect our tax positions and/or our tax liabilities. Further, the Organisation for Economic Co-operation and Development released "Pillar Two" model rules defining a 15% global minimum tax for large multinational companies. While the current U.S. administration has signaled push-back against this initiative, the Pillar Two framework has been implemented in the tax laws of many other jurisdictions. Any of these or other developments or changes in tax laws or rulings in jurisdictions in which we operate could adversely affect our effective tax rate, business, financial condition, results of operations, and prospects.

***If we fail to maintain an effective system of disclosure controls or internal control over financial reporting, 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 Exchange Act, the Sarbanes-Oxley Act of 2002 (the "Sarbanes-Oxley Act"), and the listing standards of Nasdaq. 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 and other procedures that are designed to ensure that information required to be disclosed by us in the reports that we will file with the SEC is recorded, processed, summarized, and reported within the time periods specified in SEC rules and forms and that information required to be disclosed in reports under the Exchange Act is accumulated and communicated to our principal executive and financial officers. We are also continuing to improve our internal control over financial reporting, including to remediate a material weakness identified in connection with the preparation of our financial statements for the years ended December 31, 2023, 2024, and 2025. We have expended, and anticipate that we will continue to expend, significant resources in order to maintain and improve the effectiveness of our disclosure controls and procedures and internal control over financial reporting.

Our current controls and any new controls that we develop may become inadequate because of changes in the conditions in our business, including increased complexity resulting from any management of a large and distributed fleet and other physical assets, the high volume of transactions processed by our platform, international expansion, flexible work arrangements, new offerings, or strategic transactions, including acquisitions. Further, additional weaknesses or deficiencies in our disclosure controls or our internal control over financial reporting may be discovered in the future. Our disclosure controls and procedures or our internal control over financial reporting are not expected to prevent all errors and all fraud. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Due to inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected. Any failure to develop or maintain effective controls, or any difficulties encountered in their implementation or improvement, could harm our results of operations or 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 implement and maintain effective internal control over financial reporting could also 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 eventually be

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required to include in our periodic reports that will be filed with the SEC. Ineffective disclosure controls and procedures and internal control over financial reporting could also cause errors in our report and cause investors to lose confidence in our reported financial and other information, which would likely adversely affect the market price of our common stock. In addition, if we are unable to continue to meet these requirements, we may not be able to remain listed on Nasdaq. We are not currently required to comply with the SEC rules that implement Section 404 of the Sarbanes-Oxley Act and are therefore not required to make a formal assessment of the effectiveness of our internal control over financial reporting for that purpose. As a public company, we will be required to provide an annual management report on the effectiveness of our internal control over financial reporting commencing with our second annual report on Form 10-K.

As an emerging growth company, our independent registered public accounting firm will not be required to formally attest to the effectiveness of our internal control over financial reporting until the date we are no longer an emerging growth company. At such time, our independent registered public accounting firm may issue a report that is adverse in the event it is not satisfied with the level at which our internal control over financial reporting is documented, designed, or operating. Any failure to maintain effective disclosure controls and internal control over financial reporting could have an adverse effect on our business, financial condition, results of operations, and prospects and could cause a decline in the market price of our common stock.

***Our business, financial condition, results of operations, and prospects may be adversely affected by changes in accounting principles.***

The accounting for our business is subject to change based on the evolution of our business model, interpretations of relevant accounting principles, enforcement of existing or new regulations, and changes in policies, rules, regulations, and interpretations of accounting and financial reporting requirements of the SEC or other regulatory agencies. Adoption of a change in accounting principles or interpretations could have a significant effect on our reported results of operations and could affect the reporting of transactions completed before the adoption of such change. It is difficult to predict the impact of future changes to accounting principles and accounting policies over financial reporting, any of which could adversely affect our business, financial condition, results of operations, and prospects could require significant investment in systems and personnel.

***Our ability to use our U.S. net operating loss carryforwards and certain other tax attributes may be limited.***

Under Section 382 of the U.S. Internal Revenue Code of 1986, as amended (the "Code"), if a corporation undergoes an "ownership change," the corporation's ability to use its pre-change net operating loss carryforwards ("NOLs") to offset its post-change income may be limited. In general, an "ownership change" will occur if there is a cumulative change in our ownership by "5-percent shareholders" that exceeds 50 percentage points over a rolling three-year period. Limitations may also apply under state tax laws. Our ability to use NOLs to reduce future taxable income and liabilities may be subject to annual limitations as a result of prior ownership changes and ownership changes that may occur in the future, including as a result of this offering. Additionally, in June 2024, California enacted legislation that limits the use of state NOLs for tax years beginning on or after January 1, 2024, and before January 1, 2027. As a result of this legislation or other unforeseen reasons, we may not be able to utilize some or all of our NOLs even if we attain profitability. In addition, it is possible that we will not generate taxable income in time to use NOLs before their expiration, or at all.

The Tax Cuts and Jobs Act of 2017 (the "Tax Act"), as modified by the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"), among other things, limited the use of NOLs arising in tax years beginning after December 31, 2017 to 80% of taxable income for tax years beginning after December 31, 2020. However, such NOLs may be carried forward indefinitely. Not all states conform to the Tax Act or CARES Act. In future years, if and when a net deferred tax asset is recognized related to our NOLs, these

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changes may significantly impact our valuation allowance assessments for NOLs generated after December 31, 2017.

***Operating as a public company requires us to incur substantial costs and requires substantial management attention. In addition, certain members of our management team have limited experience managing a public company.***

As a public company, we will incur substantial legal, accounting, and other expenses that we did not incur as a private company. For example, we are subject to the reporting requirements of the Exchange Act, the applicable requirements of the Sarbanes-Oxley Act, the Dodd-Frank Wall Street Reform, and Consumer Protection Act, the rules and regulations of the SEC and the listing standards of Nasdaq. For example, the Exchange Act requires, among other things, that we file annual, quarterly, and current reports with respect to our business, financial condition, results of operations, and prospects. Compliance with these rules and regulations will increase our legal and financial compliance costs, and increase demand on our systems, particularly after we are no longer an emerging growth company. In addition, as a public company, we may be subject to stockholder activism, which can lead to additional substantial costs, distract management, and impact the manner in which we operate our business in ways we cannot currently anticipate. As a result of disclosure of information in the registration statement of which this prospectus forms a part and in filings required of a public company, our business and financial condition will become more visible, which may result in threatened or actual litigation, including by competitors. Furthermore, if any issues in complying with those requirements are identified, we may incur additional costs rectifying those or new issues, and the existence of these issues could adversely affect our reputation or investor perceptions of it.

Many members of our management team have limited experience managing a publicly traded company, interacting with public company investors and complying with the increasingly complex laws pertaining to public companies. Our management team may not successfully or efficiently manage our transition to being a public company subject to significant regulatory oversight and reporting obligations under the federal securities laws and the continuous scrutiny of securities analysts and investors. These new obligations and constituents will require significant attention from our senior management and could divert their attention away from the day-to-day management of our business, which could adversely affect our business, financial condition, results of operations, and prospects.

***We are exposed to fluctuations in currency exchange rates.***

We conduct a majority of our business in currencies other than the U.S. dollar but report our financial results in U.S. dollars. As a result, we face exposure to fluctuations in currency exchange rates. Fluctuations in foreign currency exchange rates against the U.S. dollar impact our revenue (exclusive of depreciation and amortization), operating expenses, other income and expenses, assets and liabilities, and overall margins. Such fluctuations impact our cost in U.S. dollars of providing our offerings as well as our revenues in U.S. dollars generated by our international business. We are also exposed to foreign exchange rate fluctuations as we convert the financial statements of our foreign subsidiaries into U.S. dollars in consolidation. If there is a change in foreign currency exchange rates, the conversion of the foreign subsidiaries' financial statements into U.S. dollars will lead to a translation gain or loss which is recorded as a component of other comprehensive income. The current or continued strength in the value of the U.S. dollar adversely impacts the U.S. dollar value of the revenue we receive and expect to receive from other non-U.S. markets. A decrease in the value of the U.S. dollar often increases the cost of labor and services in, or originating from, non-U.S. markets. Beginning in April 2026, we entered into certain foreign currency derivative contracts intended to partially mitigate the foreign exchange risk associated with assets and liabilities denominated in currencies other than our functional currency. These arrangements may not perform as intended or may not fully offset the impacts of the currency exchange rate fluctuations or foreign exchange risks, any of which could adversely affect our business, financial condition, results of operations, and prospects.

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***We are subject to various existing and future environmental and health and safety laws and regulations that could result in increased compliance costs or additional operating costs and restrictions. Failure to comply with such laws and regulations may result in substantial fines or other limitations that could adversely impact our financial results or operations.***

We and our operations, as well as our partners or vendors, are subject to various domestic and international environmental and health and safety laws and regulations, including laws related to the generation, storage, transportation, and disposal of hazardous substances and wastes as well as electronic wastes and hardware, whether hazardous or not. We must also comply with federal, state, local, and foreign environmental and health and safety laws and regulations including those that address materials, recycling/second-use, waste handling, and end-of-life processing for vehicles, batteries, and other parts and maintenance consumables. We or others in our supply chain may be required to obtain permits and comply with procedures that impose various restrictions on operations that could adversely affect our business, financial condition, results of operations, and prospects. If key permits and approvals cannot be obtained on acceptable terms, or if other operational requirements cannot be met in a manner satisfactory for our operations or on a timeline that meets our commercial obligations, it may adversely affect our business, financial condition, results of operations, and prospects.

Environmental and health and safety laws and regulations can be complex and may be subject to change, such as through new regulations enacted at the supranational, national, sub-national, and/or local level or new or modified regulations that may be implemented under existing law. The nature and extent of any changes in these laws, rules, regulations, and permits may be unpredictable and may materially affect our business. Future legislation and regulations or changes in existing legislation and regulations, or interpretations thereof, including those relating to electronic waste, could cause additional expenditures, restrictions, and delays in connection with our operations as well as other future plans, the extent of which cannot be predicted.

Further, we rely on third parties to ensure compliance with certain environmental laws, including those related to the disposal of wastes, such as electronic wastes, to include end-of-life disposal or recycling. Any failure to properly handle or dispose of wastes, regardless of whether such failure is ours or that of our operational workforce, may result in liability under environmental laws, including, but not limited to the Comprehensive Environmental Response, Compensation and Liability Act, under which liability may be imposed without regard to fault or degree of contribution for the investigation and clean-up of contaminated sites, as well as impacts to human health and damages to natural resources. The costs of liability with respect to contamination could adversely affect our business, financial condition, results of operations, and prospects. Additionally, we may not be able to secure contracts with third parties and contractors to continue their key supply chain and disposal services for our business, which may result in increased costs for compliance with environmental laws and regulations.

***Evolving focus on sustainability and environmental, social, and governance issues by riders, regulators, media, employees, and other stakeholders may impose additional risks and costs on our business.*** 

Sustainability matters are core to our company and are an area of growing and evolving focus among our stakeholders, including cities, riders, employees, regulators, media, and the general public in the United States and abroad. We may face heightened expectations regarding sustainability matters such as the environment, social responsibility, and human rights. We engage in various initiatives to serve our stakeholders in these and other areas, but such initiatives can be costly and may not have the desired effect. For example, many sustainability initiatives, including metrics and targets, are based on methodologies, standards, and data that are still evolving or are subject to variable interpretation. In addition, we have in the past and may in the future announce our goals for certain sustainability matters. If we fail to achieve such goals, whether due to factors within or beyond our control, our reputation could be adversely affected.

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Moreover, both advocates and opponents of various sustainability issues are increasingly resorting to activism, including media campaigns and litigation, to advocate for their positions. Responding to such issues would involve inherent costs, and any failure to successfully navigate stakeholder expectations could adversely affect our business, financial condition, results of operations, and prospects.

The regulatory landscape for sustainability matters is also fragmented and rapidly evolving. We may face risks related to compliance and reporting obligations, which vary by jurisdiction, under this evolving regulatory landscape. For example, we may be or become subject to regulations which impose requirements on companies to disclose detailed information regarding their climate-related financial risks, greenhouse gas emissions, and use of carbon offsets. Compliance may involve significant expenses and resources, with risks of errors in implementing necessary changes. Our suppliers and other stakeholders may be subject to similar risks, which may exacerbate, or create additional, risks related to such matters.

***Our independent registered public accounting firm's report contains an explanatory paragraph that expresses substantial doubt about our ability to continue as a going concern.***

Our audited consolidated financial statements for the year ended December 31, 2025 include an explanatory paragraph from our independent registered public accounting firm expressing substantial doubt about our ability to continue as a going concern. As of December 31, 2025, we had cash and cash equivalents of approximately $339.8 million. In addition, we have principal payments on the 2021 Notes and the Senior Secured Term Loan of approximately $675.8 million due within twelve months of December 31, 2025 and we do not currently have sufficient liquidity to repay them. As a result, management has determined that substantial doubt exists about the Company's ability to continue as a going concern.

Our ability to continue as a going concern is dependent upon the consummation of our initial public offering. If our initial public offering is not completed as planned, our ability to continue as a going concern is dependent upon our ability to obtain necessary financing to meet our obligations or our ability to obtain an amendment to our 2021 Notes on acceptable terms. See "Management's Discussion and Analysis of Financial Condition and Results of Operations."

**Risks Related to Ownership of Our Common Stock and this Offering**

***The market price of our common stock may be volatile and may decline regardless of our financial and operating performance, and you may lose all or part of your investments.***

The market price of our common stock may fluctuate significantly in response to numerous factors, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adverse developments with respect to our offerings in the cities in which we operate, including the loss of permits to operate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• overall performance of the equity markets and/or publicly listed technology companies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actual or anticipated fluctuations in our financial and operating metrics;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an adverse development in our strategic partnership with Uber, or the anticipation of such event;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in the financial projections we provide to the public or our failure to meet these projections;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the economy as a whole and market conditions in our industry;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• announcements by us or our competitors of significant innovations, acquisitions, strategic partnerships, joint ventures, or capital commitments;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• litigation threatened or filed against us;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• recruitment or departure of key personnel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in the regulatory environment impacting cities in which we operate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other events or factors, including those resulting from war, incidents of terrorism, or responses to these events; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• anticipated sales of our common stock, including upon the expiration of contractual lock-up or market standoff agreements.

In addition, extreme price and volume fluctuations in the stock markets have affected and continue to affect many technology companies' stock prices. Often, their stock prices have fluctuated in ways unrelated or disproportionate to the companies' operating performance. In the past, stockholders have filed securities class action litigation following periods of market volatility. If we were to become involved in securities litigation, it could subject us to substantial costs and be expensive and time-consuming. We cannot guarantee that we would be successful in any such litigation, and an adverse determination could result in a substantial damage award, or we may choose to settle the litigation for a significant amount. It could also divert resources and the attention of management from our business, harming our business. Moreover, because of these fluctuations, comparing our results of operations on a period-to-period basis may not be meaningful. You should not rely on our past results as an indication of our future performance. This variability and unpredictability could also result in our failing to meet the expectations of industry or financial analysts or investors for any period. If our financial performance or results of operations fall below the expectations of analysts or investors or below any forecasts we may provide to the market, or if the forecasts we provide to the market are below the expectations of analysts or investors, the market price of our common stock could decline substantially. Such a stock price decline could occur even when we have met any previously publicly stated financial forecasts that we may provide.

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

No public market for our common stock currently exists. An active public trading market for our common stock may not develop following the closing of this offering or, if developed, it 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 fair value of your shares. An inactive market may also impair our ability to raise capital to continue to fund operations by selling securities and may impair our ability to acquire other companies or technologies by using our securities as consideration.

***Future sales of our common stock in the public market could cause the market price of our common stock to decline.***

Sales of a substantial number of shares of our common stock in 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 common stock to decline and could impair our ability to raise capital through the sale of additional equity securities.

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Substantially all of our securities outstanding prior to the completion of this offering are currently restricted from resale as a result of lock-up and market standoff agreements, subject to certain exceptions. See the sections titled "Underwriting" and "Shares Eligible for Future Sale" for additional information. These securities will become available to be sold 180 days after the date of the final prospectus relating to this offering. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC may, in their sole discretion, permit our security holders to sell shares prior to the expiration of the restrictive provisions contained in the lock-up agreements or market standoff agreements. Sales of a substantial number of such shares upon expiration of the lock-up and market standoff agreements, the perception that such sales may occur, or early release of these agreements could cause the market price of our common stock to fall or make it more difficult for an investor to sell our common stock at a time and price that an investor deems appropriate. Shares held by directors, executive officers and other affiliates will also be subject to volume limitations under Rule 144 under the Securities Act of 1933, as amended (the "Securities Act").

In addition, as of March 31, 2026, we had options outstanding that, if fully exercised, would result in the issuance of 4,325,594,672 shares of our common stock, common stock warrants outstanding that, if fully exercised, would result in the issuance of 175,123,408 shares of our common stock, and Preferred Stock Warrants that, if fully exercised, would result in the issuance of 7,845,200 shares of our common stock, as well as 287,315,852 shares of our common stock issuable upon the vesting of RSUs for which the service-based condition has been satisfied as of March 31, 2026 and would have been fully vested if the liquidity-based condition had been met on March 31, 2026. We intend to file one or more registration statements on Form S-8 under the Securities Act to register the shares of our common stock subject to outstanding stock options and RSUs as of the date following the effectiveness of the registration statement of which this prospectus forms a part and shares that will be issuable pursuant to future awards granted under our equity incentive plans. Once we register these shares, they can be freely sold in the public market upon issuance, subject to applicable vesting requirements, compliance by affiliates with Rule 144, and other restrictions provided under the terms of the applicable plan and/or the award agreements entered into with participants.

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 shares of our common stock or to include such shares in registration statements that we may file for us or other stockholders. Any registration statement we file to register additional shares, whether as a result of registration rights or otherwise, could cause the market price of our common stock to decline or be volatile.

***We have identified a material weakness in our internal control over financial reporting and, if not timely remediated, we may not be able to accurately or timely report our financial condition or results of operations, which may adversely affect investor confidence and the price of our common stock.***

In connection with the preparation and audit of our consolidated financial statements for the years ended December 31, 2023, 2024, and 2025, we and our independent registered public accounting firm identified a material weakness in our internal control over financial reporting. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis.

The material weakness identified resulted from not maintaining sufficient accounting and finance personnel commensurate with our structure and financial reporting requirements. Specifically, we lacked resources with (i) an appropriate level of accounting knowledge and experience to effectively communicate, analyze, record, and disclose accounting matters timely and accurately and (ii) an appropriate level of knowledge and experience to establish effective processes and controls. This material weakness could result in a material misstatement to the annual or interim financial statements that would not be prevented or detected.

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To address our material weakness, we are hiring accounting and finance personnel with an appropriate level of technical knowledge and expertise and have engaged with third-party consulting firms to assist with technical accounting matters, formalization of accounting policies and internal controls and financial reporting activities.

We and our independent registered public accounting firm were not required to perform an evaluation of our internal control over financial reporting for the years ending December 31, 2023, 2024, and 2025 in accordance with the provisions of the Sarbanes-Oxley Act of 2002. Accordingly, we cannot assure you that we have identified all, or that we will not in the future have additional, material weaknesses. Material weaknesses may still exist when we report on the effectiveness of our internal control over financial reporting as required by reporting requirements under Section 404 after the completion of this offering. If we are unable to successfully remediate the existing material weakness in our internal control over financial reporting, the accuracy and timing of our financial reporting, and our stock price, may be adversely affected and we may be unable to maintain compliance with the applicable stock exchange listing requirements.

***If you purchase shares of our common stock in this offering, you will incur immediate and substantial dilution.***

The initial public offering price will be substantially higher than the as adjusted net tangible book value per share of our 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 common stock in this offering, based on the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the estimated price range set forth on the cover page of this prospectus, you will experience an immediate dilution of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, the difference between the price per share you pay for our common stock and the as adjusted net tangible book value per share as of March 31, 2026, after giving effect to the issuance by us of shares of our common stock in this offering and the Transactions. In addition, you may also experience additional dilution if options, RSUs or other rights to purchase our common stock that are outstanding or that we may issue in the future are exercised, vest or are converted or if we issue additional shares of our common stock at prices lower than our net tangible book value at such time.

***Future securities issuances could result in significant dilution to our stockholders and impair the market price of our common stock.***

Future issuances of shares of our common stock, or the perception that these sales may occur, could depress the market price of our common stock and result in dilution to existing holders of our common stock. Also, to the extent outstanding options or warrants to purchase shares of our common stock are exercised or options, RSUs or other stock-based awards are issued or become vested, there will be further dilution. The amount of dilution could be substantial depending upon the size of the issuances or exercises. Furthermore, we may issue additional equity securities that could have rights senior to those of our common stock. As a result, purchasers of our common stock bear the risk that future issuances of debt or equity securities may reduce the value of our common stock and further dilute their ownership interest.

***We 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 to us 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, our ultimate use may vary substantially from our currently intended use. Investors will need to rely on the judgment of our management with respect to the use of proceeds. Pending use, we may invest the net proceeds from this offering in short-term, investment-grade, interest-bearing securities, such as money market funds, corporate notes and bonds, certificates of deposit,

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commercial paper and guaranteed obligations of the U.S. government that may not generate a high yield for our stockholders. If we do not use the net proceeds that we receive in this offering effectively, our business, financial condition, results of operations, and prospects could be harmed, and the market price of our common stock could decline.

***We currently have no plans to pay dividends on our common stock.***

We have never declared or paid any cash dividends on shares of 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 many factors, including our financial condition, results of operations, earnings, capital requirements, business expansion opportunities, level of indebtedness, statutory and contractual restrictions applying to the payment of dividends, and other considerations that our board of directors deem relevant.

***If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could decline.***

The trading market for our common stock will be influenced by the research and reports that industry or financial analysts publish about us or our business. We do not control these analysts or the content and opinions included in their reports. As a new public company, we may be slow to attract research coverage, and the analysts who publish information about our 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. In the event we obtain industry or financial analyst coverage, if any of the analysts who cover us issues an inaccurate or unfavorable opinion regarding our stock price, our stock price may decline. In addition, the stock prices of many companies in the technology industry have declined significantly after those companies have failed to meet, or exceed, the financial guidance publicly announced by the companies or the expectations of analysts. If our results of operations fail to meet, or exceed, our announced guidance or the expectations of analysts or public investors, analysts could downgrade our common stock or publish unfavorable research about us, and the price of our common stock would likely decline as a result of such failure to meet our guidance or analyst expectations. If one or more of these analysts cease coverage of our 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.

***For as long as we are an emerging growth company, we will not be required to comply with certain reporting requirements, including those relating to accounting standards and disclosure about our executive compensation, that apply to other public companies.***

We are an "emerging growth company," as defined in the JOBS Act, and we may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging growth companies," including the auditor attestation requirements of Section 404, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Pursuant to Section 107 of the JOBS Act, as an emerging growth company, we have elected to use 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 consolidated financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective dates for new or revised accounting standards that are applicable to public companies, which may make our common stock less attractive to investors. In addition, if we cease to be an emerging growth company, we will no longer be able to use the extended transition period for complying with new or revised accounting standards.

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We will remain an emerging growth company until the first to occur of: (1) the last day of the year following the fifth anniversary of this offering; (2) the last day of the first year in which our annual gross revenue is $1.235 billion or more; (3) the date on which we have, during the previous rolling three-year period, issued more than $1.0 billion in non-convertible debt securities; and (4) the date we qualify as a "large accelerated filer," with at least $700 million of equity securities held by non-affiliates.

We cannot predict if investors will find our common stock less attractive if we choose to rely on these exemptions. For example, if we do not adopt a new or revised accounting standard, our future results of operations may not be as comparable to the results of operations of certain other companies in our industry that adopted such standards. If some investors find our common stock less attractive as a result, there may be a less active trading market for our common stock, and our stock price may be more volatile.

***Anti-takeover provisions contained in our amended and restated certificate of incorporation and amended and restated bylaws, as well as provisions of Delaware law, could impair a takeover attempt.***

Our amended and restated certificate of incorporation and amended and restated bylaws, which will become effective immediately prior to the completion of this offering, contain, and Delaware law contains, provisions which could have the effect of rendering more difficult, delaying, or preventing an acquisition deemed undesirable by our board of directors. These provisions will provide for the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a classified board of directors with staggered three-year terms, which may delay the ability of stockholders to change the membership of a majority of our board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• no cumulative voting in the election of directors, which limits the ability of minority stockholders to elect director candidates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the exclusive right of our board of directors to establish the size of the board of directors and to appoint a director to fill a vacancy, however occurring, including by expanding the board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the ability of our board of directors to authorize the issuance of shares of preferred stock and to determine the price and other terms of those shares, including voting or other rights or preferences, without stockholder approval, which could be used to significantly dilute the ownership of a hostile acquiror;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the ability of our board of directors to alter our amended and restated bylaws without obtaining stockholder approval;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• supermajority voting requirement to amend certain provisions in our amended and restated certificate of incorporation and amended and restated bylaws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a prohibition on stockholder action by written consent, which forces stockholder action to be taken at an annual or special meeting of our stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the requirement that a special meeting of stockholders may be called only by our Chief Executive Officer or a majority of our board of directors then in office, which may delay the ability of our stockholders to force consideration of a proposal or to take action, including the removal of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• advance notice procedures that stockholders must comply with in order to nominate candidates to our board of directors or to propose matters to be acted upon at a stockholders' meeting, which may discourage or deter a potential acquiror from conducting a solicitation of proxies to elect the acquiror's own slate of directors or otherwise attempting to obtain control of us; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the limitation of liability of, and provision of indemnification to, our directors and officers.

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These provisions, alone or together, could delay or prevent hostile takeovers and changes in control or changes in our management.

As a Delaware corporation, we are also subject to provisions of Delaware law, including Section 203 of the General Corporation Law of the State of Delaware (the "Delaware General Corporation Law"), which prevents some stockholders holding more than 15% of our outstanding common stock from engaging in certain business combinations without approval of the holders of substantially all of our outstanding common stock. For a description of our capital stock, see the section titled "Description of Securities."

Any provision of our amended and restated certificate of incorporation, amended and restated bylaws or Delaware law that has the effect of delaying or deterring a change in control could limit the opportunity for our stockholders to receive a premium for their shares of our common stock, and could also affect the price that some investors are willing to pay for our common stock.

***Claims for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us and may reduce the amount of money available to us.***

Our amended and restated certificate of incorporation and amended and restated bylaws, which will become effective immediately prior to the completion of this offering, provide that we will indemnify our directors and officers, in each case to the fullest extent permitted by Delaware law.

In addition, as permitted by Section 145 of the Delaware General Corporation Law, our amended and restated bylaws to be effective immediately prior to the completion of this offering, and our indemnification agreements that we have entered or intend to enter into with our directors and officers provide that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we will indemnify our directors and officers for serving us in those capacities or for serving other business enterprises at our request to the fullest extent permitted by Delaware law. Delaware law provides that a corporation may indemnify such person if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the registrant and, with respect to any criminal proceeding, had no reasonable cause to believe such person's conduct was unlawful;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we may, in our discretion, indemnify employees and agents in those circumstances where indemnification is permitted by applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we are required to advance expenses, as incurred, to our directors and officers in connection with defending a proceeding, except that such directors or officers will undertake to repay such advances if it is ultimately determined that such person is not entitled to indemnification;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the rights conferred in our amended and restated bylaws are not exclusive, and we are authorized to enter into indemnification agreements with our directors, officers, employees, and agents and to obtain insurance to indemnify such persons; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we may not retroactively amend our amended and restated bylaw provisions to reduce our indemnification obligations to directors, officers, employees, and agents.

While we maintain a directors' and officers' insurance policy, such insurance may not be adequate to cover all liabilities that we may incur, which may reduce our available funds to satisfy third-party claims and may harm our business and financial position.

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***Our amended and restated certificate of incorporation and amended and restated bylaws will provide for an exclusive forum in the Court of Chancery of the State of Delaware for certain disputes between us and our stockholders, and that the federal district courts of the United States will be the exclusive forum for the resolution of any complaint asserting a cause of action under the Securities Act.***

Our amended and restated certificate of incorporation and amended and restated bylaws, which will become effective immediately prior to the completion of this offering, will provide, that: (i) unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware (or, if such court does not have subject matter jurisdiction thereof, the federal district court of the State of Delaware) will, to the fullest extent permitted by law, be the sole and exclusive forum for: (A) any derivative action or proceeding brought on behalf of the company, (B) any action asserting a claim for or based on a breach of a fiduciary duty owed by any of our current or former director, officer, other employee, agent or stockholder to the company or our stockholders, including without limitation a claim alleging the aiding and abetting of such a breach of fiduciary duty, (C) any action asserting a claim against the company or any of our current or former director, officer, employee, agent, or stockholder arising pursuant to any provision of the Delaware General Corporation Law or our certificate of incorporation or bylaws or as to which the Delaware General Corporation Law confers jurisdiction on the Court of Chancery of the State of Delaware, or (D) any action asserting a claim related to or involving the company that is governed by the internal affairs doctrine; (ii) unless we consent in writing to the selection of an alternative forum, the federal district courts of the United States will, to the fullest extent permitted by law, be the sole and exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act, and the rules and regulations promulgated thereunder; (iii) any person or entity purchasing or otherwise acquiring or holding any interest in shares of capital stock of the company will be deemed to have notice of and consented to these provisions; and (iv) failure to enforce the foregoing provisions would cause us irreparable harm, and we will be entitled to equitable relief, including injunctive relief and specific performance, to enforce the foregoing provisions. Nothing in our current certificate of incorporation or bylaws or our amended and restated certificate of incorporation or amended and restated bylaws precludes stockholders that assert claims under the Exchange Act, from bringing such claims in federal court to the extent that the Exchange Act confers exclusive federal jurisdiction over such claims, subject to applicable law.

The choice of forum provisions may limit a stockholder's ability to bring a claim in a judicial forum that it finds favorable for disputes with us or any of our current or former directors, officers, other employees, agents, or stockholders, which may discourage such claims against us or any of our current or former directors, officers, other employees, agents, or stockholders and result in increased costs for investors to bring a claim.

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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 other than statements of historical facts contained in this prospectus, including statements regarding our strategy, future financial condition, future operations, expected costs, prospects, plans, objectives of management and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "shall," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," "goal," "objective," "positions," "seeks" or "continue," or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this prospectus include, but are not limited to, statements about:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our future financial performance, including our expectations regarding our revenue, expenses and other results of operations, and our ability to achieve and maintain future profitability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to acquire new riders and grow our rider base;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to successfully retain existing riders and expand usage within our existing rider base;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expectations with respect to the performance of our products, including the safety, availability and reliability of our fleet;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to obtain, maintain and renew permits to operate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to comply with the terms of our permits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the anticipated impact of adding fleet within a city;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to predict rider demand and reposition vehicles accordingly;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to manage, improve and optimize our logistics;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to provide a satisfactory customer support experience;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the safety, affordability, and convenience of our platform and our offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• launching new products and adding new product capabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• investments to develop and enhance our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expectations regarding our ability to expand;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to avoid or remediate design or manufacturing defects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to effectively manage our growth;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• investments in our business, our anticipated capital expenditures and our estimates regarding our capital requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the estimated size of our market opportunity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact of seasonal variations and other weather patterns;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• investments in our sales and marketing efforts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to compete effectively with existing competitors and new market entrants;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our reliance on our senior management team and our ability to identify, recruit and retain skilled personnel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• future acquisitions or investments in complementary companies, products, services or technologies and our ability to successfully integrate such companies or assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to obtain, maintain, protect and enforce our intellectual property rights and any costs associated therewith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to prevent disturbance to our information technology systems;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to successfully defend regulatory actions or assessments or claims and litigation brought against us;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to maintain insurance coverage;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to comply with laws and regulations that currently apply or become applicable to our business around the world;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to remediate material weaknesses in our internal controls over financial reporting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• economic and industry trends and other macroeconomic factors, such as fluctuating interest rates and rising inflation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact of geopolitical changes or tensions, political conflicts and other global financial, economic, and political events and wars, and global pandemics or health crises on our industry, business, financial condition, results of operations and prospects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expected use of proceeds from this offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other risks and uncertainties described in this prospectus, including those under the section titled "Risk Factors."

We caution you that the foregoing list does not contain all of the forward-looking statements made in this prospectus.

You should not rely upon forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this prospectus primarily on our current expectations, estimates, forecasts, and projections about future events and trends that we believe may affect our business, financial condition, results of operations and prospects. Although we believe that we have a reasonable basis for each forward-looking statement contained in this prospectus, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur at all. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors described in the section titled "Risk Factors" and elsewhere in this prospectus. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this prospectus. The results, events, and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements.

The forward-looking statements made in this prospectus relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this prospectus to reflect events or circumstances after the date of this prospectus or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not

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reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments we may make.

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

You should read this prospectus and the documents that we reference in this prospectus and have filed as exhibits to the registration statement, of which this prospectus is a part, completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all of the forward-looking statements in this prospectus with these cautionary statements.

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**MARKET AND INDUSTRY DATA**

This prospectus contains estimates, projections and other information concerning our industry and our business, as well as data regarding market research, estimates and forecasts prepared by our management. Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties, and actual events or circumstances may differ materially from events and circumstances that are assumed in this information. The industry in which we operate is subject to a high degree of uncertainty and risk due to a variety of factors, including those described in the section titled "Risk Factors." Unless otherwise expressly stated, we obtained this industry, business, market and other data from reports, research surveys, studies and similar data prepared by market research firms and other third parties, industry and general publications, government data and similar sources. Forecasts and other forward-looking information with respect to industry, business, market and other data are subject to the same qualifications and additional uncertainties regarding the other forward-looking statements in this prospectus. See the section titled "Special Note Regarding Forward-Looking Statements" for additional information.

Among others, we refer to estimates compiled by the following industry sources:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Bloomberg Initiative for Cycling Infrastructure, *Analysis: How global cities are raising their cycling infrastructure ambitions*, July 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Euromonitor International Passport Extract: Cities & Consumers - Global, 2024 edition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• European Environment Agency, *Transport and mobility*, February 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• INRIX, Inc., *INRIX Global Traffic Scorecard 2024*, February 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• International Transport Forum Policy Papers, *Greener Micromobility*, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Oliver Wyman Forum, *Road to 1.5: How Urban Mobility Can Help Cities Limit Climate Change*, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• PowerBIGov.us, Seattle Deployment Fleet Size, accessed March 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Sensor Tower, Inc., Monthly Global Application Downloads, accessed January 2026 ("Sensor Tower").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• United Nations - Department of Economic and Social Affairs, *68% of the world population projected to live in urban areas by 2050, says UN*, 2018.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• University of North Florida - College of Computing, Engineering & Construction, *Exploring of user experience and evaluating mobility benefits of micromobility systems and golf carts: Case study of Florida*, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• U.S. Environmental Protection Agency, *Inventory of U.S. Greenhouse Gas Emissions and Sinks, 1990–2022*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• U.S. Department of Transportation Bureau of Transportation Statistics, *Bikeshare and E-scooter Systems in the U.S.*, September 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• World Travel and Tourism Council, *Travel & Tourism Economic Impact Research (EIR)*, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• World Wide Fund for Nature, *Paris Vélib' bike-sharing: Traffic breakthrough with bicycle sharing*, March 2021.

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**USE OF PROCEEDS**

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

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

The principal purposes of this offering are to obtain additional capital to fund our operations, create a public market for our common stock, facilitate our future access to the public equity markets, and increase our visibility in the marketplace. We currently intend to use the net proceeds from this offering to repay all of the outstanding indebtedness under the Senior Secured Term Loan. The Senior Secured Term Loan matures in September 2026 and bears interest at the rate of 10% per annum. See the section titled "Certain Relationships and Related-Party Transactions—Senior Secured Term Loan and Uber Guaranty" for more information on the Senior Secured Term Loan. We intend to use the remaining net proceeds from this offering for general corporate purposes, including working capital, operating expenses and capital expenditures. We may also use a portion of the net proceeds to in-license, acquire or invest in complementary technologies, assets or intellectual property. We periodically evaluate strategic opportunities; however, we have no current commitments to enter into any such acquisitions or make any such investments.

The expected use of net proceeds from this offering represents our intentions based upon our present plans and business conditions. We cannot predict with certainty all of the particular uses for the proceeds of this offering or the amounts that we will actually spend on the uses set forth above. Accordingly, our management will have broad discretion in applying the net proceeds of this offering. The timing and amount of our actual expenditures will be based on many factors, including cash flows from operations and the anticipated growth of our business.

Pending their use, we intend to invest the net proceeds from this offering in a variety of capital-preservation investments, including short- and intermediate-term investments, interest-bearing investments, investment-grade securities, government securities and money market funds.

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**DIVIDEND POLICY**

We have never declared or paid any cash dividends on our capital stock. We currently intend to retain any future earnings for use in the operation of our business and do not anticipate declaring or paying any cash dividends in the foreseeable future. In addition, our ability to pay dividends is restricted by the terms of the Senior Secured Term Loan, the 2020 Notes and the 2021 Notes, as described further in the sections titled "Certain Relationships and Related-Party Transactions—Senior Secured Term Loan and Uber Guaranty," "Description of Securities—2020 Notes" and "Description of Securities—2021 Notes," respectively, and may be restricted by any agreements we may enter into in the future. Any future determination to declare cash dividends will be made at the discretion of our board of directors, subject to applicable laws and will depend on a number of factors, including our financial condition, results of operations, capital requirements, contractual restrictions, general business conditions and other factors our board of directors may deem relevant.

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**CAPITALIZATION**

The following table sets forth our cash and cash equivalents and total capitalization as of March 31, 2026:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• on an actual basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• on an as adjusted basis to reflect (i) the filing and effectiveness of our amended and restated certificate of incorporation, which will occur immediately prior to the completion of this offering and (ii) the Transactions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• on an as further adjusted basis to reflect: (i) the adjustments set forth above, (ii) the issuance and sale of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock by us in this offering at an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us, and (iii) the application of the net proceeds from this offering to repay all of the outstanding indebtedness under the Senior Secured Term Loan as described in the section titled "Use of Proceeds."

The as further adjusted information discussed below is illustrative only and will be adjusted based on the actual initial public offering price and other terms of this offering determined at pricing. This table should be read in conjunction with the sections titled "Summary Consolidated Financial Data," "Use of Proceeds" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our consolidated financial statements and related notes included elsewhere in this prospectus.

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| | | | |
|:---|:---|:---|:---|
| | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** |
| | **Actual** | **As Adjusted** | **As Further Adjusted**<sup>(1)</sup> |
| | **(in thousands, except share and per share amounts)** | **(in thousands, except share and per share amounts)** | **(in thousands, except share and per share amounts)** |
| Cash and cash equivalents | $261302 | $| $|
| Term loan, current | 114244 |  |  |
| 2020 Notes | 209646 |  |  |
| 2021 Notes | 682934 |  |  |
| Convertible preferred stock, par value $0.0001 per share; 14,008,547,900 shares authorized, 4,647,938,403 shares issued and outstanding, actual; no shares authorized, issued or outstanding, as adjusted and as further adjusted | 114027 |  |  |
| Stockholders' equity (deficit): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock, par value $0.0001 per share; no shares authorized, issued, or outstanding, actual; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares, authorized, no shares issued or outstanding, as adjusted and as further adjusted |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock, par value $0.0001 per share; 27,000,000,000 shares authorized, 7,185,167,557 shares issued and outstanding, actual; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares authorized and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issued and outstanding, as adjusted; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares authorized and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issued and outstanding, as further adjusted | 718 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 247952 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income | (7921) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (806462) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity (deficit) | (565713) | $| $|
| &nbsp;&nbsp;&nbsp;&nbsp;Total capitalization | $555138 | $| $|

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_______________

(1)The as further adjusted information discussed above is illustrative only and will depend on the actual initial offering price and other terms of this offering determined at pricing. Each $1.00 increase or decrease in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase or decrease, as applicable, each of as further adjusted cash and cash equivalents, additional paid-in capital, total stockholders' equity and total capitalization by approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , assuming that the number of shares of common stock offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Similarly, each increase or decrease of 1.0 million shares of common stock offered by us would increase or decrease, as applicable, each of as further adjusted cash and cash equivalents, additional paid-in capital, total stockholders' equity and total capitalization by approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , assuming that the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Each $1.00 increase in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would decrease the shares of common stock issued in the 2021 Notes Conversion by &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares, and each $1.00 decrease in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase the shares of common stock issued in the 2021 Notes Conversion by&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares.

If the underwriters exercise their option to purchase additional shares of our common stock in full, as further adjusted cash and cash equivalents, additional paid-in capital, total stockholders' equity, total capitalization and shares of common stock outstanding as of March 31, 2026 would be $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , $&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;&nbsp;&nbsp;&nbsp;&nbsp; shares, respectively.

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The number of shares of our common stock issued and outstanding, as adjusted, and as further adjusted in the table above is based on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock outstanding as of March 31, 2026 and after giving effect to the Transactions, and excludes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 4,325,594,672 shares of our common stock issuable upon the exercise of outstanding stock options as of March 31, 2026, with a weighted-average exercise price of $0.0138 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 287,315,852 shares of our common stock subject to outstanding RSUs, for which the service-based vesting condition was satisfied as of March 31, 2026 and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1,826,836,585 shares of our common stock subject to outstanding RSUs, for which the service-based vesting condition was not satisfied as of March 31, 2026 and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock subject to outstanding RSUs granted subsequent to March 31, 2026, for which the service-based vesting condition will not be satisfied upon the completion of this offering and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 7,845,200 shares of our common stock issuable upon the exercise of the Preferred Stock Warrant outstanding as of March 31, 2026, which will become a warrant to purchase shares of our common stock in connection with the Transactions, with an exercise price of $0.0669 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 20,111,354 shares of our common stock issuable upon the exercise of warrants to purchase 20,111,354 shares of our common stock outstanding as of March 31, 2026, with a weighted-average exercise price of $0.0456 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• up to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock issuable upon the conversion of the aggregate principal amount of $85.0 million of the 2020 Uber Note (plus any unpaid accrued interest) outstanding as of March 31, 2026 and up to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock issuable upon conversion of the aggregate principal amount of $85.0 million of the 2020 Investor Notes (plus any unpaid accrued interest), in each case, outstanding as of March 31, 2026 at the 2020 Note Conversion Price, assuming that the holders of the 2020 Uber Note and 2020 Investor Notes elect to convert their notes in full into shares of our common stock in connection with this offering as more fully described under the section titled "Description of 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; shares of our common stock reserved for future issuance under the 2026 Plan, which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part, including &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; new shares and the number of shares (i) that remain available for grant of future awards under the 2017 Plan at the time the 2026 Plan becomes effective, which shares will cease to be available for issuance under the 2017 Plan at such time and (ii) underlying outstanding Prior Plan Awards that expire, or are cancelled, forfeited, reacquired or withheld; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock reserved for future issuance under the ESPP which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part.

The 2026 Plan and ESPP also provide for automatic annual increases in the number of shares reserved thereunder. See the section titled "Executive and Director Compensation—Equity Incentive Plans" for additional information.

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**DILUTION**

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

As of March 31, 2026, our historical net tangible book value (deficit) was $(595.0) million, or $(0.08) per share of our common stock. Our historical net tangible book value per share represents our total tangible assets less total liabilities and convertible preferred stock, divided by the aggregate number of shares of our common stock outstanding as of March 31, 2026.

Our as adjusted net tangible book value as of March 31, 2026 was $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, or $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share of common stock. As adjusted net tangible book value per share represents tangible assets, less liabilities, divided by the aggregate number of shares of common stock outstanding, and after giving effect to (i) the filing and effectiveness of our amended and restated certificate of incorporation, which will occur immediately prior to the completion of this offering and (ii) the Transactions.

After giving further effect to (i) the sale by us of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock in this offering at an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us and (ii) the application of the net proceeds from this offering to repay all of the outstanding indebtedness under the Senior Secured Term Loan as described in the section titled "Use of Proceeds," our as further adjusted net tangible book value as of March 31, 2026 would have been $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, or $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share. This represents an immediate increase in as adjusted net tangible book value to existing stockholders of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share and an immediate dilution in as adjusted net tangible book value to investors participating in this offering of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share. Dilution per share represents the difference between the price per share to be paid by investors participating in this offering for the shares of our common stock sold in this offering and the as further adjusted net tangible book value per share immediately after this offering.

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

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| | |
|:---|:---|
| Assumed initial public offering price per share | $|
| &nbsp;&nbsp;&nbsp;&nbsp;Historical net tangible book value (deficit) per share as of March, 31 2026 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase in net tangible book value per share as of March 31, 2026 attributable to the as adjusted transactions described above |  |
| &nbsp;&nbsp;&nbsp;&nbsp;As adjusted net tangible book value per share as of March 31, 2026 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase in as adjusted net tangible book value per share attributable to investors participating in this offering |  |
| As further adjusted net tangible book value per share after this offering |  |
| Dilution per share to investors participating in this offering | $|

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Each $1.00 increase or decrease in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase or decrease, as applicable, our as further adjusted net tangible book value per share after this offering by $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share and the dilution in as further adjusted net tangible book value per share per share to investors participating in this offering by $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, assuming that the number of shares of common stock offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Similarly, each 1.0 million share increase or decrease in the number of shares of common stock offered by us would increase or decrease, as applicable, our as further adjusted net tangible book value per share after this offering by $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share and the dilution in as further adjusted net tangible

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book value per share to investors participating in this offering by $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, assuming the initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Each $1.00 increase in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would decrease the shares of common stock issued in the 2021 Notes Conversion by &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares, and each $1.00 decrease in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase the shares of common stock issued in the 2021 Notes Conversion by &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares.

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

The following table sets forth, on the as adjusted basis described above, as of March 31, 2026, the number of shares of common stock purchased from us, the total consideration paid, or to be paid, and the weighted-average price per share paid, or to be paid, by existing stockholders and by the investors participating in this offering, at an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, before deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Shares Purchased** | **Shares Purchased** | **Total Consideration** | **Weighted-Average Price Per Share** |
| | **Number** | **Percent** | **Percent** | **Weighted-Average Price Per Share** |
| | **(in thousands, except share, per share and percent data)** | **(in thousands, except share, per share and percent data)** | **(in thousands, except share, per share and percent data)** | **(in thousands, except share, per share and percent data)** |
| Existing stockholders |  | % | $% | $|
| Investors participating in this offering |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total |  | 100% | $100% |  |

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Each $1.00 increase or decrease in the assumed initial public offering price per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase or decrease, as applicable, the total consideration paid by investors participating in this offering, total consideration paid by all stockholders, and the weighted-average price per share paid by all stockholders by approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;, respectively, assuming that the number of shares of common stock offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Similarly, each 1.0 million share increase or decrease in the number of shares of common stock offered by us would increase or decrease, as applicable, the total consideration paid by investors participating in this offering, total consideration paid by all stockholders, and the weighted-average price per share paid by all stockholders by approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;, respectively, assuming the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Each $1.00 increase in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would decrease the shares of common stock issued in the 2021 Notes Conversion by&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares, and each $1.00 decrease in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase the shares of common stock issued in the 2021 Notes Conversion by &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares.

The foregoing tables assume no exercise of the underwriters' option to purchase additional shares. If the underwriters' exercise their option to purchase additional shares of common stock in full, the number of shares of common stock held by our existing stockholders will represent approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; % of the

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total number of shares of our common stock outstanding after this offering and the number of shares held by investors participating in this offering will represent approximately &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; % of the total number of shares of our common stock outstanding after this offering.

The foregoing tables and calculations (other than the historical net tangible book value calculation) are based on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock outstanding as of March 31, 2026 and after giving effect to the Transactions, and excludes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 4,325,594,672 shares of our common stock issuable upon the exercise of outstanding stock options as of March 31, 2026, with a weighted-average exercise price of $0.0138 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 287,315,852 shares of our common stock subject to outstanding RSUs, for which the service-based vesting condition was satisfied as of March 31, 2026 and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1,826,836,585 shares of our common stock subject to outstanding RSUs, for which the service-based vesting condition was not satisfied as of March 31, 2026 and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock subject to outstanding RSUs granted subsequent to March 31, 2026, for which the service-based vesting condition will not be satisfied upon the completion of this offering and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 7,845,200 shares of our common stock issuable upon the exercise of the Preferred Stock Warrant outstanding as of March 31, 2026, which will become a warrant to purchase shares of our common stock in connection with the Transactions, with an exercise price $0.0669 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 20,111,354 shares of our common stock issuable upon the exercise of warrants to purchase 20,111,354 shares of our common stock outstanding as of March 31, 2026, with a weighted-average exercise price of $0.0456 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• up to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock issuable upon the conversion of the aggregate principal amount of $85.0 million of the 2020 Uber Note (plus any unpaid accrued interest) outstanding as of March 31, 2026 and up to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock issuable upon conversion of the aggregate principal amount of $85.0 million of the 2020 Investor Notes (plus any unpaid accrued interest), in each case, outstanding as of March 31, 2026 at the 2020 Note Conversion Price, assuming that the holders of the 2020 Uber Note and 2020 Investor Notes elect to convert their notes in full into shares of our common stock in connection with this offering as more fully described under the section titled "Description of 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; shares of our common stock reserved for future issuance under the 2026 Plan, which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part, including &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; new shares and the number of shares (i) that remain available for grant of future awards under the 2017 Plan at the time the 2026 Plan becomes effective, which shares will cease to be available for issuance under the 2017 Plan at such time and (ii) underlying outstanding Prior Plan Awards that expire, or are cancelled, forfeited, reacquired or withheld; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock reserved for future issuance under the ESPP which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part.

The 2026 Plan and ESPP also provide for automatic annual increases in the number of shares reserved thereunder. See the section titled "Executive and Director Compensation—Equity Incentive Plans" for additional information.

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To the extent we issue any additional stock options, warrants or RSUs or any outstanding stock options or warrants are exercised or any outstanding RSUs settle, or if we issue any other securities or convertible debt in the future, investors will experience further dilution.

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![mdacover1b.jpg](mdacover1b.jpg)

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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 the "Summary Consolidated Financial Data" section, our audited consolidated financial statements and related notes, our unaudited condensed consolidated financial statements and related notes and other financial information appearing elsewhere in this prospectus. In addition to historical consolidated financial information, the following discussion contains forward-looking statements that reflect our plans, estimates, and beliefs that involve significant risks and uncertainties. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to those differences include those discussed below and elsewhere in this prospectus, particularly in "Risk Factors" and "Special Note Regarding Forward-Looking Statements." Our historical results are not necessarily indicative of the results to be expected for any period in the future.*

**Our Business** 

***Overview***

Lime is the largest global shared micromobility business. We are on a mission to build a future where transportation is shared, affordable, and carbon-free.

Lime provides convenient and reliable short-term rentals of e-scooters and e-bikes at an affordable price. As of December 31, 2025, we operated in approximately 230 cities<sup>4</sup> across 29 countries<sup>5</sup>. In 2025, we delivered a seamless rider experience to approximately 19 million riders. Our market leadership and scale have made Lime a widely recognized brand — valued by riders for our availability and trusted by cities for our operating track record. This leadership and scale have also yielded favorable unit economics, enabling us to continue investing in our growth.

Lime has revolutionized the shared micromobility industry through our vertically integrated platform, which combines our proprietary hardware and software, data, tech-enabled operations, and government relations expertise. Our vertical integration allows us to maintain control of key aspects of our service and is designed to accelerate rider adoption, boost usage frequency, facilitate regulatory compliance, and optimize cost efficiency — fueling sustainable growth while solidifying trusted partnerships with cities and positioning us as a leader in the shared micromobility industry.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Proprietary Hardware:</u> Our electric vehicle fleet consists of e-scooters, e-bikes, and seated e-scooters, and operates on a "free-floating" model — meaning e-scooters or e-bikes that are dockless and can be parked in a variety of locations — which is designed to provide maximum convenience to riders and flexibility to cities. We design and engineer our vehicles in-house to elevate the rider experience, support regulatory compliance, enhance safety, and reduce our lifetime cost of ownership.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Software:</u> Lime's proprietary technology stack seamlessly connects our hardware, software, and operations through three core systems: a rider-facing app, the Rider App, for vehicle access, an operations-facing app, the Lime Supply App, for operations management, and an IoT-enabled hardware system for vehicle intelligence. The Rider App enables frictionless vehicle discovery and locking/unlocking, while the Lime Supply App equips our operations workforce to manage and maintain our fleet. Within the Lime Supply App, predictive analytics prioritize tasks that we

<sup>4</sup>&nbsp;&nbsp;&nbsp;&nbsp; As used in this prospectus, a "city" may refer to a metropolitan area that may be a city or could include regions outside of city limits or in defined areas of operation within a metropolitan area.

<sup>5</sup>&nbsp;&nbsp;&nbsp;&nbsp; The principal countries we have operated in are the United States, the United Kingdom, and France from which we generated 33%, 15%, and 11% of total revenue, respectively, in 2023, 34%, 21%, and 10%, respectively, in 2024, 32%, 22%, and 10%, respectively, in 2025, and 29%, 23%, and 8%, respectively, in the three months ended March 31, 2026.

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believe will drive the most value, such as repositioning vehicles from one location to another, charging, or maintenance using machine learning to forecast demand patterns to help optimize fleet placement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Data:</u> Our platform harnesses data, such as rider behavior, operational workflows, and hardware/software diagnostics, to inform dynamic decision-making in real-time and our hardware design. Leveraging data from vehicle usage trends, gaps in demand, prioritized operational field tasks, and external inputs like weather help us to optimize fleet performance and advance city congestion goals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Tech-Enabled Operations:</u> Our tech-enabled operations address shared micromobility's logistical complexity — including volatile demand, workforce availability, and the challenges of operating in dense urban environments — by utilizing software and data in day-to-day decision-making. Our operations software tactically informs vehicle deployment, maintenance, and repositioning tasks, transforming physical workflows into scalable, predictive processes. By leveraging data-driven tools to guide fleet allocation and task prioritization across our markets, subject to local regulatory and labor frameworks, we believe we can maximize vehicle availability and operational efficiency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Government Relations Expertise:</u> Our dedicated government relations and local customer service teams collaborate closely with cities to establish scalable transportation systems and forge policies that are designed to address and evolve with both rider and urban needs. We pair our operational expertise with deep local knowledge and in-depth discussions with city officials to secure permits to operate in a city and co-create shared micromobility systems that align with city priorities, such as equitable access and public transit connectivity.

The extensive presence of our electric vehicles in cities around the world has established our brand with the public, reinforcing our leadership position in the shared micromobility industry. Each of our e-scooters and e-bikes serves as mobile advertisements within the cities in which we operate, continuously reinforcing brand recognition. Our reach is further amplified through our network partnerships, including our mutually exclusive partnership with Uber. Lime vehicles are featured as a ride option within the Uber app in nearly all of our shared markets, providing Lime with direct access to Uber's global user base. Revenue generated through our partnership with Uber was approximately 14.1%, 15.8%, 14.3%, and 14.0% of total revenue in 2023, 2024, 2025, and the three months ended March 31, 2026, respectively.

We have grown our rider base by offering easy access to our fleet through the Lime and Uber apps and providing flexible payment options that appeal to routine and casual riders alike. Investing in fleet growth has also improved our reliability and driven further rider adoption. We have benefited from our scale and unit economics model characterized by variable costs that adjust with our operational needs, which has improved our financial position over time.

We believe our platform, combined with our global scale, market leadership, brand awareness, efficient operating model, and network partnerships creates significant competitive advantages, which has positioned us as a leader in the shared micromobility industry, has fueled sustained growth over time, and has contributed to our significant market share. We calculate our market share primarily using data for MAAUs from Sensor Tower for each of the countries we operated in and supplementing with publicly available information and our internal data. For the year ended December 31, 2025, our market share across both docked and dockless shared micromobility operators was approximately 27% across the countries we operated in, representing a 1% increase from the prior year and nearly three times the market share of the next largest operator by MAAUs, and 37% in the United States, representing a 4% increase from the prior year. When focusing solely on dockless shared micromobility operators, our market share was approximately 35% across the countries we operated in and 48% in the United States, representing a 2% and 6% increase from the prior year, respectively.

Our financial performance demonstrates the resilience and strength of our platform. In 2023, 2024, and 2025, we generated revenue of $522.0 million, $686.6 million, and $886.7 million, respectively,

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representing year-over-year growth of 32% and 29%. In the same periods, we recorded gross profit of $169.2 million, $281.1 million, and $345.4 million, respectively, representing year-over-year growth of 66% and 23%, and Adjusted Gross Profit of $276.3 million, $368.6 million, and $467.2 million, respectively, representing year-over-year growth of 33% and 27%. In 2023, 2024 and 2025, we had net losses of $122.4 million, $33.9 million, and $59.3 million, respectively. In 2023, 2024, and 2025, we recorded Adjusted EBITDA of $99.8 million, $153.4 million, and $218.1 million, respectively, representing year-over-year growth of 54% and 42%, and operating (loss) income of $(24.6) million, $47.0 million, and $70.4 million, respectively.

In the three months ended March 31, 2025 and March 31, 2026, we generated revenue of $129.0 million and $170.2 million, respectively, representing year-over-year growth of 32%. In the same periods, we recorded gross profit of $28.9 million and $44.6 million, respectively, representing year-over-year growth of 54%, and Adjusted Gross Profit of $56.5 million and $74.2 million, respectively, representing year-over-year growth of 31%. In the three months ended March 31, 2025 and March 31, 2026, we had net losses of $56.0 million and $61.3 million, respectively. In the three months ended March 31, 2025 and March 31, 2026, we recorded Adjusted EBITDA of $2.1 million and $7.5 million, respectively, representing year-over-year growth of 250%, and operating losses of $31.4 million and $29.0 million, respectively.

For a reconciliation of Adjusted Gross Profit and Adjusted EBITDA to the most directly comparable generally accepted accounting principles in the United States of America ("GAAP") financial measures, information about why we consider Adjusted Gross Profit and Adjusted EBITDA useful, and a discussion of the limitations of these measures, please see the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures."

**Lime's History Of Innovation and Growth**

Since its founding in 2017, Lime has driven continuous innovation and growth in the shared micromobility space through advancements in both hardware and software. The timeline below highlights

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major milestones in product development, operational scale, and geographic expansion, underscoring Lime's leadership in shared micromobility.

![mda1b.jpg](mda1b.jpg)

**Lime's Business Model**

***How We Generate Revenue***

We generate revenue when riders use electric vehicles on our platform. Riders are charged for short-term rentals of our fleet of e-scooters and e-bikes with fees starting when a rider unlocks the vehicle via our mobile application and concluding when a rider ends the ride. We offer riders access to our platform primarily through two pricing models: either "Pay-As-You-Go" or LimePass, which consists of minute bundles as well as a subscription program, LimePrime. These options are designed to accommodate varying rider preferences and consumption habits. For example, casual riders, who might ride only when they visit a city we operate in or to attend a special event, favor the Pay-As-You-Go model. By contrast, routine riders, whose consistent and frequent usage, such as commutes to work and school or local journeys for errands and appointments, reflects higher retention and greater reliance on shared micromobility in their daily lives, often purchase minute bundles via LimePass. In 2025, 72% of revenue was generated through "Pay-As-You-Go" rides while 28% of revenue was generated through LimePass and LimePrime, collectively.

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<u>"Pay-As-You-Go"</u>

Pay-As-You-Go allows riders to pay for usage based on the duration per session. Typically, this includes an unlock fee (often around $1) and a per-minute charge. This model is frequently used by first-time riders, casual riders such as tourists, and those accessing our service through partner applications, such as Uber.

<u>"LimePass"</u>

Minute bundles allow riders to purchase a fixed number of minutes at a discounted rate, with unused minutes expiring after a designated period. Launched in 2019, this offering was designed to drive rider engagement through cost savings. Revenue from bundled minutes is initially deferred and recognized incrementally as riders consume their prepaid minutes. Minute bundles are available exclusively through the Rider App. These prepaid minute bundles are sold in increments that expire within 1 to 30 days. In 2025, riders using minute bundles took approximately 6 times as many trips as those who used our Pay-As-You-Go model, reflecting strong adoption among recurring riders.<sup>6</sup>

<u>"LimePrime"</u>

LimePrime is a recurring monthly subscription program that provides unlimited vehicle unlocks and extended vehicle reservations for the duration of the subscription period. We continue to experiment with new ways to drive value through our subscription offerings. Our latest implementation of LimePrime offers rides at a fixed rate to subscribers, giving riders a more reliable sense of their trip costs through upfront pricing.

***Our Advantaged Unit Economics***

Our differentiated unit economics are reflected in our Adjusted Gross Profit, which measures the profit generated after accounting for revenue from riders and direct local operating costs incurred to deliver our service. Adjusted Gross Profit is defined as gross profit excluding depreciation and amortization, and helps us evaluate the unit economic performance of a given city. Please see "—Non-GAAP Financial Measures" for a reconciliation of Adjusted Gross Profit to gross profit, which is the most directly comparable GAAP measure.

A meaningful portion of our local operating expenses are fixed and semi-fixed overhead, which provide us a structural advantage. The advantage allows us to expand both within cities in which we currently operate (by deploying additional fleet) and outward to adjacent cities which can be serviced by our existing operational infrastructure. As we scale within a market, this operating leverage supports revenue growth and margin expansion. In 2023, 2024, and 2025, substantially all of our revenue growth came from cities in which we already operated prior to those periods, with the remainder coming from expansion into entirely new cities.

While each city's unique demographics, usage patterns, and layout demand tailored go-to-market approaches, we have observed relatively consistent gross margins across market categories, demonstrating the replicability and versatility of our model. Our gross margin for 2023, 2024, and 2025 was 32%, 41%, and 39%, respectively. The graphic below shows the average unit economics across all cities for 2025. Starting with revenue we remove the costs associated with labor, parts, and permits along with facilities and other local costs to arrive at Adjusted Gross Profit. Our Adjusted Gross Margin for 2023, 2024, and 2025 was 53%, 54%, and 53%, respectively, which we believe is a reflection of overall local

<sup>6</sup>&nbsp;&nbsp;&nbsp;&nbsp; Based on internal data, where riders who take 75% or more of rides through LimePass are considered LimePass riders and riders who take 75% or more of rides through Pay-As-You-Go are considered Pay-As-You-Go riders.

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city unit economics. Detailed explanations of each component of our costs associated with local markets are provided below.

**2025 Unit Economics**

![mda2f.jpg](mda2f.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Revenue</u>: Revenue represents our gross bookings from riders, net of contra-revenue items which include sales & VAT taxes, promotions, and refunds. Revenue is analogous to our reported revenue in our consolidated statement of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Labor</u>: Labor represents a significant component of our unit economics, principally supporting field operations that drive value. These operations include strategic vehicle deployment, vehicle maintenance, swapping batteries, and vehicle retrieval. Our labor costs are mostly variable and tied to operational workflows. Our ability to increase task density (the number of tasks in a given location) allows us to increase the efficiency of our labor force and lower our overall costs. We do this by leveraging our data and analytics capabilities to focus on tasks that we believe are higher-value, enhancing the rider experience and vehicle uptime. Our extensive and growing dataset has allowed us to meaningfully decrease our labor spend over time and we aim to continue to identify ways to optimize the efficiency of our workforce.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Parts</u>: The cost of replacement parts for our vehicles is an important factor influencing unit economics. This includes tires, brakes, batteries, and other components that require periodic replacement due to wear and tear. We are continuously working to improve the durability of our vehicles and optimize our maintenance schedules to minimize parts costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Permits</u>: Permits, while representing a smaller portion of our overall costs, are necessary for enabling the right to operate in a city. These permits allow us to legally deploy and operate our vehicles within designated areas of a city. We work closely with local governments to secure permits and collaborate with cities using our data and observations to help address their local priorities. Our permits can include revenue sharing provisions or fixed fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Facilities Costs</u>: To service our fleet we require local infrastructure including fixed operational investments in facilities and the associated management of those facilities. We work to optimize fixed infrastructure across cities and seek to negotiate competitive rates. Facilities costs include those associated with warehousing, such as rent, utilities, taxes, and warehouse equipment costs. Over time we have moved more repairs to be in the field versus in the warehouse. This has reduced the need for warehouse space, and enabled us to service broader areas with our existing operational infrastructure.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Other Local Market Costs</u>: In addition to the above, our unit economics are influenced by other local market costs, including our platform and web hosting server costs, service vehicles, merchant and credit card processing fees, and certain insurance costs. We use data obtained from our platform to make continuous improvements in our platform technical design as well as certain contract terms, driving efficiency and reducing our cost base.

***Our Disciplined Approach to Capital Expenditures***

Our platform has enabled us to become more efficient with our capital expenditures.

Managing our fleet involves focused investment across three key areas: maintenance capital expenditures, growth capital expenditures, and cost of revenue. Our maintenance capital expenditures consist of investments required to maintain the total number of our current operational vehicles. These expenditures comprise both the full cost of new replacement vehicles as well as improvements to existing fleet which helps maintain our competitive position in our markets of operation. Our maintenance capital expenditures have become more efficient over time. These efficiencies have resulted from enhanced vehicle durability, optimized maintenance and vehicle charging schedules, upgraded battery locking mechanisms to reduce battery theft, and on-vehicle software updates to reduce idle power consumption. Over the years ended December 31, 2024 and 2025, our maintenance capital expenditures averaged 5% of revenue. Conversely, growth capital expenditures are required to grow our fleet either in current markets or in connection with market expansion. Growth capital expenditures also include the costs for development of technology such as the software for the Rider App or the Lime Supply App, as well as hardware such as charging solutions. Labor and parts required for both routine repairs and preventative maintenance are classified under cost of revenue in our consolidated statement of operations.

Our approach has enabled us to allocate substantially more capital toward activities that support the growth of our business in recent periods. Our blended average fully landed vehicle cost for the year ended December 31, 2025 was about $1,300, for which our ROI Payback Period was approximately twelve months. Our blended average fully landed vehicle cost represents the purchase cost of an e-scooter or e-bike, inclusive of the batteries, plus shipping, insurance, customs duties (including tariffs), and taxes, on average, for a single vehicle. Our ROI Payback Period represents the estimated number of months until the Adjusted Gross Profit per vehicle, calculated as our annualized RVD multiplied by our Adjusted Gross Margin in the same period, exceeds the blended average fully landed vehicle cost.

We expect to continue a disciplined approach to capital expenditures, enabling us to continue to grow our fleet while managing the cost of maintenance.

**Attractive Growth and Unit Economic Trends Across Cohorts**

***Our Advantaged Growth and Unit Economics are Primarily Driven by Fleet Growth***

Fleet growth is at the foundation of top-line growth and provides the scale necessary for our business to realize advantaged unit economics. Our platform, combined with a large and growing fleet, creates the high availability and reliability necessary for riders to adopt our offerings. Because our platform enables us to analyze local demand patterns and deploy vehicles with precision, we can take steps designed to maximize usage as we add fleet. Vehicle positioning to increase rider convenience, higher vehicle uptime, rider vehicle preference, and the resulting increased brand awareness drive higher vehicle utilization. As a result, we have observed increases to both our Monthly Active Users ("MAU"), the total number of unique riders who complete at least one e-scooter or e-bike trip on our platform at least once in a given month, averaged over each month in the measurement period and our revenue per vehicle per day ("RVD"), the average daily revenue generated by each operational vehicle in our fleet, when we have

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increased our fleet. With scale, we increase reliability and availability, and improve the experience for riders, which contributes to more favorable unit economics.

**KPIs**

![mda3f.jpg](mda3f.jpg)

From 2023 to 2024, we grew our average operational fleet by 20%, while growing MAU by 19% and expanding utilization (RVD) by 9%. From 2024 to 2025, we grew our average operational fleet by 18%, while growing MAU by 21% and expanding utilization (RVD) by 10%. Because of our simultaneous growth in average operational fleet and MAU while expanding utilization, along with our continued unit economic improvements, we grew gross profit by 66% and 23% and Adjusted Gross Profit by 33% and 27% from 2023 to 2024 and 2024 to 2025, respectively. Please see "—Non-GAAP Financial Measures" for reconciliation of Adjusted Gross Profit to gross profit, which is the most directly comparable GAAP measure.

***As We Deepen Relationships with Cities, We Grow Rider Engagement***

As we scale, the availability and reliability of our vehicles increases for riders, which can lead to higher trip frequency which in turn can increase the utilization of our fleet. More trips per rider leads to a

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greater revenue generated per MAU. As shown below, our revenue per average MAU grew to approximately 1.2x in 2025 relative to 2023 and approximately 1.1x in 2024 relative to 2023.

**Revenue per Average MAU**

![mda4d.jpg](mda4d.jpg)

As shown below, each successive cohort from 2023 to 2024 started with a higher cumulative revenue and continued on the trend of increasing cumulative revenue over the course of their first 12 months with Lime. As riders use Lime more frequently over the course of their first year, many adopt LimePass, which offers minute bundles that are catered to riders who could more frequently use Lime vehicles and has helped to convert casual riders into routine riders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Riders in successive cohorts consistently increased their spend. For example, in their initial month riders in 2023 and 2024 spent 1.1x and 1.2x, respectively, more than riders from the 2022 cohort.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Revenue generation from new cohorts also increased more rapidly than from older cohorts. For example, in month 9, riders in 2023 and 2024 cohorts cumulatively generated 2.2x and 2.5x, respectively, more than the baseline revenue, as compared to 1.9x in the 2022 cohort.

![mda5e.jpg](mda5e.jpg)

*This table shows the average cumulative revenue generated by a rider over their first year using Lime for the 2023 and 2024 cohorts relative to the first month's average revenue generated by the 2022 cohort of riders.*

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***We Have Seen the Same Advantaged Trends Across the Market Categories We Serve***

We have seen that fleet growth has resulted in both top-line growth and advantaged unit economics regardless of the market category in which we operate. For each market category, however, the business strategy and operational nuances vary as a consequence of demographics and rider preferences.

In the charts below, we show the average fleet per city, average RVD generated per city, and the average Adjusted Gross Margin of such cities for 2023, 2024, and 2025 for each market category. The charts illustrate growth, with fleet size and average RVD expressed as a multiple relative to a 2023 baseline. Adjusted Gross Margin, however, displays the actual percentage achieved in each year.

![mda6e.jpg](mda6e.jpg)

![mda7e.jpg](mda7e.jpg)

![mda8e.jpg](mda8e.jpg)

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![mda9e.jpg](mda9e.jpg)

***Our Largest Opportunity Continues to be Within Existing Cities***

As we scale, we continue to see substantial expansion opportunities within our existing cities. We earn the right to add more operational fleet when we deliver on our value proposition for riders and cities with many permits offering the ability to expand fleet once particular operational and compliance metrics are met. Expansion within existing cities provides us with the best opportunity to realize economies of scale and benefit from operating leverage and network effects.

Operational fleet retention helps us to measure our efforts to expand our fleet within our cities over time, which as shown in the chart below, was 114%, 119%, and 116% in 2023, 2024, and 2025, respectively. Our operational fleet retention rate measures the year-over-year growth of our average operational fleet within our established cities of operation. This rate is calculated by comparing the average operational fleet in a given period to the average operational fleet in the same cities during the same period in the prior year. A rate exceeding 100% indicates net growth in our deployed fleet within our existing markets.

![mda10d.jpg](mda10d.jpg)

By increasing the size of our operational fleet in existing cities, we can leverage our existing infrastructure to enhance our service reliability and availability in a cost efficient way, promoting rider confidence in their ability to conveniently access e-scooters or e-bikes when needed while concurrently improving our unit economics.

While we have been able to drive significant operational fleet growth by expanding our presence within our existing cities, we also consistently pursue opportunities to launch our offerings in new cities and countries. We added 19 new cities in 2025. In particular, neighboring markets to those in which we

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operate provide us an opportunity to leverage a fixed cost center to service multiple markets in a centralized location which also improves our operating margins.

***Our Relationships with Cities Are Durable***

Part of the reason we have been able to generate significant growth in existing cities is due to the durable relationships we have cultivated, which allows us to expand our fleet, evolve the regulatory context, and benefit from increased scale and density. We invest in our local teams who have deep policy expertise and actively engage with policymakers, which enhances our understanding of city priorities and further strengthens our relationships with cities. Since 2022 the average length of time we have been operating in cities has increased. In 2022 we had not operated in any city for more than four years, while by 2025, 63% of the cities we operated in were cities in which we had operated for at least four years. These results demonstrate our durable relationships with our city partners and illustrate the value of our focus on engaging with local governments.

***We Have Multiple Growth Drivers***

While all of our drivers of growth are important to our expansion model, we have flexibility to choose different growth levers and business strategies that are most appropriate for a particular market category's maturity and context at a given point in time. For example, we can choose to focus our efforts on fleet expansion, leveraging existing fixed costs to increase reliability and availability in a cost efficient way. In other cities, we can focus on increasing RVD through variable ride pricing strategies and optimized fleet placement. We can focus on increasing MAU through differentiated sales and marketing programs and rider incentives, promote LimePass, or optimize for price elasticity to attract riders to our platform.

**Key Operating Metrics**

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| | | | |
|:---|:---|:---|:---|
| | **2023** | **2024** | **2025** |
| Average Operational Fleet | 229405 | 275983 | 325137 |
| &nbsp;&nbsp;&nbsp;*% YoY change* |  | *20 %* | *18 %* |
| RVD ($) | $6.23 | $6.80 | $7.47 |
| &nbsp;&nbsp;&nbsp;*% YoY change* |  | *9 %* | *10 %* |
| MAU ('000s) | 2639 | 3127 | 3794 |
| &nbsp;&nbsp;&nbsp;*% YoY change* |  | *19 %* | *21 %* |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Average Operational Fleet:</u> Our operational fleet, defined as the total number of vehicles available on our platform, represents the average number of vehicles available for use for at least one hour per day during a specific period. The size of this fleet is a crucial indicator, as it reflects our capacity to meet rider demand and improve RVD. Vehicle maintenance, timely charging, and repositioning for optimal distribution and availability all impact our operational fleet on a given day and are actively managed by us.

Our revenue grew by 29% year-over-year in 2025, which was primarily driven by the growth of our average operational fleet by 18% over the same period in existing cities and enhanced network density and rider engagement.

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We believe that RVD is an indicator of the growth of our business as well as the value we deliver to our riders and stakeholders. Understanding RVD enables us to measure utilization and identify opportunities to enhance our service and deploy additional fleet.

In 2025, our two cities with the highest RVD were approximately 3x as high as our overall average RVD. We believe these results achieved over the span of our operational history in these cities highlight the potential utilization achievable in our cities as we continue to optimize fleet deployment and deepen rider engagement. Increasing RVD is a core area of focus for us as it directly expands our cash flow.

For the year ended December 31, 2025, RVD increased by 10% from the prior year. Our strategy of concentrating new vehicle deployments in existing markets enhanced network density and reliability, which in turn drove higher utilization across the entire fleet, as evidenced by a 21% year-over-year increase in MAU in 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Monthly Active Users (MAU):</u> We define Monthly Active Users as the total number of unique riders who complete at least one e-scooter or e-bike trip on our platform at least once in a given month, averaged over each month in the measurement period. We use MAUs to assess the breadth of our service adoption and the frequency of rider engagement, which are critical measures of our penetration across the approximately 230 cities in which we operate.

Monthly Active Users grew 21% year-over-year in 2025, driven by our enhanced network reliability and strategic fleet deployment, which fueled a significant expansion in new ridership.

**Factors Affecting Lime's Performance**

We recognize several factors that affect our performance. These factors include growth in operational fleet, rider acquisition and growth, city expansion, regulatory compliance and advocacy, logistics and operational efficiency, strategic partnerships, seasonality, and weather. We describe these factors and they impact our performance below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Growth in Operational Fleet</u>

Our ability to grow revenue is linked to the size and effective management of our fleet. Over time, we have observed that increasing the size of our fleet is a key lever to grow MAU and RVD. Within individual cities, a larger fleet enables a greater density of available vehicles, which in turn enhances the availability and reliability of our vehicles for riders. The combination of increased density, availability, and reliability drive increased rider adoption. Our scale is directly correlated with our MAU, as availability of well-maintained vehicles increases reliability and convenience, fostering rider loyalty and driving MAU growth. To expand our fleet, we need both operating permits from cities and efficient fleet maintenance and management enabling us to retain permits and meet rider and city expectations.

We manage the size of our operational fleet to align with seasonal demand fluctuations, which typically peak in the second and third quarters of the year. This seasonality is driven by temperate weather conditions in many of our operating cities and we see increased rider demand in warmer and drier months. A larger operational fleet during seasonal periods of high demand enables us to maximize RVD.

Our ability to expand fleet is also related to the time required to cover the cost of investment in our vehicles. In 2023, 2024, and 2025, our e-scooters and e-bikes averaged an ROI Payback Period of approximately twelve months, enabling us to continue to invest for growth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Rider Acquisition and Growth</u>

In order to grow our business, we must both attract new riders and convert casual riders to routine riders. A substantial portion of our riders are acquired organically through the visibility of

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our vehicles on city streets, and we leverage opportunistic marketing and partnerships to enhance the growth of our rider base. While continued acquisition of new riders is a component of our growth, a key driver of future success lies in deepening engagement with our existing riders. Converting first time and casual riders to routine riders represents one of our growth opportunities.

We define routine riders as those who spend at least $50 annually and casual riders as those who spend less than $50 annually on their usage of Lime. We have found that riders who spend more than $50 annually exhibit recurring behavior in their usage of Lime, and tend to stay with us more frequently than casual riders. A rider's journey from casual to routine is influenced by a number of factors, including the needs of the riders, the strength of our global brand, the availability of our vehicles, the affordability of our services, and the quality of our hardware. Over time some casual riders enjoy the benefits of Lime and become routine riders. While we focus on growing our routine rider base, casual riders, such as tourists, remain an important segment. In fact, based on internal estimates, over 15% of our routine riders initially experienced Lime during their travels and later incorporated it into their routines back home as of December 2025.

Our ability to retain riders through a consistently high-quality experience and targeted engagement strategies is paramount to achieving sustainable, long-term growth and profitability. We measure our success in rider acquisition and growth using key engagement metrics, MAU and RVD, in conjunction with our geographic reach and the performance of our various rider cohorts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>City Expansion</u>

As of December 31, 2025, Lime operates in approximately 230 cities across 29 countries. We have a substantial opportunity for growth by deepening our presence and expanding in existing cities by adding fleet. A smaller portion of our growth is expected to stem from entering new cities. When we add fleet to existing or enter new cities, we evaluate capital investment requirements in addition to our expectations around rider adoption and profitability. As such, we choose to deploy vehicles to locations where we believe we can enhance RVD over time. Given the unique opportunities within different cities, we tailor our go-to-market strategies to the specific characteristics of each city, in order to enable our operations to align with local city requirements and rider needs and preferences.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Regulatory Compliance and Advocacy</u>

The rapidly evolving shared micromobility industry is subject to a complex and dynamic web of local laws and regulations, and the requirements of our permits to operate, which vary from city to city and region to region. Local city laws and regulations and permits impact the investments and operating costs within our cities. These regulations include, but are not limited to, permit fees, vehicle caps (limiting the number of vehicles we can operate), operational area restrictions, data sharing requirements, and specific deployment mandates that dictate where our vehicles can be positioned.

Navigating the regulatory environment requires investment in legal expertise, government relations, and ongoing engagement with local authorities. Lime proactively partners with cities to foster collaborative relationships, promote compliance with applicable requirements, and maximize the positive impact of our services on the community. This includes actively participating in discussions regarding new regulations and infrastructure build out, providing data and insights to inform policy decisions, and working to develop innovative solutions that address the unique needs and challenges of each city. Our ability to secure and maintain operating permits, effectively manage our fleet within the constraints of vehicle caps, and adapt to changing regulatory requirements is important for our continued growth.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Logistics and Operational Efficiency</u> 

Our logistics and operational efficiency are drivers of our financial performance, particularly in managing our key cost factors: capital expenditures, labor, and fixed costs.

Capital expenditures are primarily related to the purchase and maintenance of our vehicle fleet. We actively work to mitigate this cost by negotiating favorable pricing agreements with vehicle manufacturers, optimizing our vehicle deployment strategy, and extending the useful life of our vehicles through robust maintenance programs and durable designs. Labor costs relate to repairs, positioning, and regulatory compliance. To optimize this, we leverage technology and operational strategies to maximize productivity. In our fixed costs, we have successfully reduced our warehouse footprint while increasing the number of vehicles we manage through technological innovations and operational efficiencies. We intend to focus on these key cost factors and leverage technology and operational innovations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Seasonality and Weather</u>

Demand for our shared micromobility services is subject to considerable variation across different cities and within the same city over time. Inclement weather, such as rain, snow, or extreme temperatures, typically leads to a reduction in demand. We experience a predictable cadence of seasonality across many of our cities, which impacts our operational strategies. Given a significant portion of our operations is based in the Northern Hemisphere, inclement weather tends to impact our operations negatively in the first and fourth quarters of each calendar year. Seasonal fluctuations are also driven by factors such as local events (e.g., festivals, concerts, and sporting events that occur more frequently in summer periods) and seasonal tourism.

Our flexible labor model and operational experience allows us to scale our operations up or down in response to changing conditions. This model enables us to efficiently allocate resources, optimize vehicle deployment, and minimize operational costs during periods of low demand, while providing the ability to scale-up so that we have sufficient capacity to meet peak demand during periods of high activity. Our optimized scale up/down strategy allows for both increased demand capture and improved economics. By proactively adjusting our operational strategies, we can manage the impact of demand variations.

Our cash flow varies seasonally, with increased rider activity and the addition of new cities typically occurring during the second and third quarters and lower rider activity along with larger capital expenditures typically occurring in the fourth and first quarters due to the hardware refresh cycle. Together, these factors generally result in higher cash flows in the second and third quarters and lower cash flows in the first and fourth quarters.

**Non-GAAP Financial Measures**

To supplement our consolidated financial statements prepared and presented in accordance with GAAP, we use certain non-GAAP financial measures, as described below, to facilitate analysis of our financial and business trends and for internal planning and forecasting purposes.

We use Adjusted Gross Profit, Adjusted EBITDA and Free Cash Flow in conjunction with GAAP measures to evaluate our performance, inform our budgeting and capital allocation decisions, and assess the effectiveness of our business strategies. We believe these non-GAAP financial measures provide valuable insights to investors, enhancing their understanding of our historical performance and future potential. They also offer transparency into the metrics our management team utilizes for financial and operational decision-making. By presenting Adjusted Gross Profit, Adjusted EBITDA, and Free Cash Flow we aim to provide investors with a view of our business and financial performance through the lens of management, offering an additional tool for comparing our operational results across multiple periods.

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It is important to note that our definitions of these non-GAAP financial measures may differ from similarly titled metrics used by other companies. Furthermore, other companies may not publish these or similar metrics. These metrics also have inherent limitations, as they exclude the impact of certain expenses reflected in our consolidated statements of operations. Therefore, Adjusted Gross Profit, Adjusted EBITDA and Free Cash Flow should be considered as supplementary information, and not as substitutes for, or in isolation from, measures prepared in accordance with GAAP.

***Adjusted Gross Profit and Adjusted Gross Margin***

We define Adjusted Gross Profit as gross profit excluding depreciation and amortization. By removing these non-cash expenses, Adjusted Gross Profit can be used to evaluate the unit economic profile of the business, highlighting the profitability of each ride or city before accounting for the long-term allocation of asset costs. This approach helps in assessing the direct operational efficiency and profitability tied to the core activities that drive revenue. Adjusted Gross Margin is calculated by dividing Adjusted Gross Profit for a period by revenue for the same period.

A reconciliation of gross profit and gross margin, the most directly comparable GAAP financial measures, to Adjusted Gross Profit and Adjusted Gross Margin is presented below:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** |
| Gross profit | $169205 | $281073 | $345447 | $28885 | $44591 |
| Gross margin (as a percentage of revenue) | 32.4% | 40.9% | 39.0% | 22.4% | 26.2% |
| Add: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization - included in cost of revenue | $103646 | $86188 | $121083 | $27480 | $29431 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on vehicle asset disposals | 3419 | 1295 | 622 | 105 | 181 |
| Adjusted Gross Profit | $276270 | $368556 | $467152 | $56470 | $74203 |
| Adjusted Gross Margin (as a percentage of revenue) | 52.9% | 53.7% | 52.7% | 43.8% | 43.6% |

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Adjusted Gross Profit for the year ended December 31, 2025 was $467 million, a 27% increase compared to $369 million the prior year. Adjusted Gross Margin for the year ended December 31, 2025 was 52.7%, a decrease from 53.7% in the prior year. Unit economics, as measured by Adjusted Gross Margin, decreased by 99 basis points as we made targeted expenditures designed to enhance fleet reliability and operational efficiency.

Adjusted Gross Profit for the three months ended March 31, 2026 was $74 million, a 31.4% increase compared to $56 million for the three months ended March 31, 2025. Adjusted Gross Margin for the three months ended March 31, 2026 was 43.6%, which decreased slightly from 43.8% for the three months ended March 31, 2025. Adjusted Gross Margin is typically lower in the first quarter of each calendar year due to the seasonality of our business.

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![mda12d.jpg](mda12d.jpg)

***Adjusted EBITDA***

Adjusted EBITDA is a key performance metric we use to assess our core operating performance and operating leverage by excluding items that are non-cash or are not indicative of our ongoing business results. It is calculated by starting with net income (loss) and then adjusted to exclude interest expense, income tax, depreciation and amortization (which includes vehicle depreciation, non-vehicle depreciation, and the amortization of capitalized software and cloud computing arrangements), gain/loss on vehicle disposals, and stock-based compensation. Furthermore, we exclude other expense, net; this category encompasses the change in the fair value of the 2021 Notes, interest income, other miscellaneous income or expense and all realized and unrealized foreign exchange gains or losses. We also adjusted to exclude costs related to market closures and non-recurring public company readiness efforts. By removing these specific financial, non-cash, and non-core operational items, Adjusted EBITDA provides a clearer view of the profitability and cash-generating potential of our fundamental business operations.

The following table presents a reconciliation of Adjusted EBITDA to net loss, which is the most directly comparable GAAP measure, for the periods indicated:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Net loss | $(122358) | $(33913) | $(59309) | $(55964) | $(61286) |
| Interest expense | 23140 | 20282 | 20626 | 5123 | 5159 |
| Provision for income taxes | 6083 | 4396 | 10079 | 2337 | 1856 |
| Depreciation and amortization<sup>(1)</sup> | 109540 | 93311 | 128165 | 29318 | 30936 |
| Stock-based compensation | 11485 | 11808 | 11198 | 3152 | 2642 |
| Other expense, net | 68511 | 56204 | 99005 | 17082 | 25239 |
| Loss on vehicle asset disposals | 3419 | 1295 | 622 | 105 | 181 |
| Market closure costs | 24 | 29 |  |  |  |
| Public company readiness costs |  |  | 7740 | 982 | 2754 |
| Adjusted EBITDA | $99844 | $153412 | $218126 | $2135 | $7481 |

---

_____________

(1)Includes amortization related to cloud computing arrangements.

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Adjusted EBITDA for the year ended December 31, 2025 was $218 million, a 42% increase compared to $153 million in the prior year. Adjusted EBITDA for the three months ended March 31, 2026 was $7.5 million compared to $2.1 million for the three months ended March 31, 2025. These improvements were fueled by strong year-over-year revenue growth of 29% in 2025 and 32% in the first quarter of 2026 as compared to the first quarter of 2025, which created significant operating leverage on our corporate expenses.

![mda13d.jpg](mda13d.jpg)

***Free Cash Flow***

We define Free Cash Flow as net cash provided by operating activities less capital expenditures for vehicle and non-vehicle assets.

A reconciliation of net cash provided by (used in) operating activities, the most directly comparable GAAP financial measure, to Free Cash Flow is presented below:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Net cash provided by (used in) operating activities | $81199 | $168953 | $214841 | $(20615) | $(22302) |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures | (80128) | (121652) | (111053) | (51539) | (56889) |
| Free Cash Flow | $1071 | $47301 | $103788 | $(72154) | $(79191) |

---

Free Cash Flow was $104 million in 2025, an improvement of $56 million from the prior year largely as a result of a $46 million year-over-year increase in cash provided by operating activities. While our average operational fleet increased by 18% in 2025, we experienced lower cash outflow for capital expenditures in 2025 compared to 2024 as our payment terms with our vehicle supplier changed such that our vehicle purchases are secured by letters of credits in 2025 rather than through upfront payment of deposits in prior periods.

We experienced negative Free Cash Flow of $(79) million for the three months ended March 31, 2026 and $(72) million for the three months ended March 31, 2025 as inclement weather tends to impact our operations negatively in the first quarter of each calendar year while many of our costs remain fixed. Additionally, our capital expenditures are generally concentrated in the first part of the calendar year to accomodate planned vehicle manufacturing lead times.

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![mda14e.jpg](mda14e.jpg)

**Components of Results of Operations** 

***Revenue***

We generate revenue by providing seamless, on-demand access to our fleet of e-scooters and e-bikes. We earn revenue from unlock fees to access the vehicles and per minute usage fee from Pay-As-You-Go riders. We treat any credit, coupon, or rider incentives as a reduction to the revenue for the ride in the period to which it relates.

We also generate revenue from our LimePass offerings, which consist of minute bundles and LimePrime. Minute bundles allow for the purchase of discounted ride minutes, offered at different increments, which can be used across multiple rides for a period of time ranging from 1 to 30 days. LimePrime is a recurring monthly subscription that provides riders with benefits such as unlimited unlocks and extended vehicle reservations during the subscription period. In addition, starting in the first quarter of 2026, we rolled out a new LimePrime option for unlimited flat-rate rides, up to 20 minutes each. We recognize revenue for minute bundles as minutes are used and we recognize revenue for LimePrime ratable over the subscription term.

***Cost of Revenue***

Cost of revenue consists primarily of compensation, employee benefits and stock-based compensation of local operations field personnel associated with the deployment, maintenance and retrieval of vehicles and swapping of batteries, vehicle asset depreciation and disposals, tools and parts, merchant and credit card processing fees, warehouse rent and related facility costs, and certain insurance costs related to our micromobility services. Costs of revenue also includes operating permit costs and platform and web hosting server costs.

We plan to continue to drive an increased volume of trips taken on our e-scooters and e-bikes and expand the reach of our platform through opening and winning new markets and growing within existing markets. We expect that cost of revenue will increase in absolute dollars in future periods and vary from period to period as a percentage of revenue.

***Selling, General and Administrative***

Selling, general and administrative expenses include compensation, employee benefits and stock-based compensation for management, finance, legal, human resources, marketing, government relations, business development, general liability and corporate insurance costs, certain legal-related accruals and settlements and expenses, professional service fees, advertising and marketing, events, public relations, sponsorships, and other general overhead and allocated costs.

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We plan to continue to invest in sales and marketing to attract and retain riders on our platform and increase our brand awareness. Additionally, we expect to incur additional expenses as a result of operating as a public company, including expenses to comply with the rules and regulations applicable to companies listed on a national securities exchange, expenses related to compliance and reporting obligations pursuant to the rules and regulations of the SEC, as well as higher expenses for general and director and officer insurance, investor relations, and professional services. We expect that selling, general and administrative expenses will increase in absolute dollars in future periods and vary from period to period as a percentage of revenue.

***Operations and Support***

Operations and support expenses include compensation, employee benefits and stock-based compensation and other costs for central operations, supply chain, customer service, and trust and safety. Central operations personnel are responsible for the strategy, planning, data analysis and reporting across markets for capital expenditures and labor, warehouse optimization, new business initiatives and expansion into new markets. Supply chain costs include distribution facility costs related to the centralized purchasing and storage prior to deployment of our e-scooters and e-bikes to our local markets. Customer service costs include third party call-center support and customer support technology costs. Trust and safety personnel are responsible for developing the policies and protocols for the safety programs, monitoring safety trends and supporting compliance with applicable laws and regulations.

We plan to continue to invest in central operations, supply chain, customer service, and trust and safety to support our continued growth. We expect that operations and support expenses will increase in absolute dollars in future periods and vary from period to period as a percentage of revenue.

***Research and Development***

Research and development expenses include compensation, employee benefits, and stock-based compensation for technology developers and product management employees as well as fees paid to outside consultants, software costs, and other allocated costs.

We plan to continue to hire employees to support our research and development efforts to continue advancing the proprietary hardware and software that enables our platform to continuously improve the experience for both cities and riders. We expect that research and development expenses will increase in absolute dollars in future periods and vary from period to period as a percentage of revenue.

***Interest expense***

Interest expense consists primarily of interest payments on our convertible notes and debt, including accretion of debt discount.

***Provision for Income Taxes***

We are subject to income taxes in the United States and foreign jurisdictions in which we do business. These foreign jurisdictions have different statutory tax rates than those in the United States. Additionally, certain of our foreign earnings may also be taxable in the United States. Accordingly, our effective tax rate will vary depending on the relative proportion of foreign to domestic income, use of foreign tax credits, changes in the valuation of our deferred tax assets, and liabilities and changes in tax laws.

We have a valuation allowance for our U.S. deferred tax assets, including federal and state net operating loss carryforwards. We expect to maintain this valuation allowance until it becomes more likely than not that the benefit of our federal and state deferred tax assets will be realized. However, based on our current and anticipated future earnings, our management believes it is reasonably possible that the U.S. valuation allowance will no longer be needed in the future. The timing and amount of the valuation allowance release could vary based on the level of profitability that we are actually able to achieve. A

------

release of all or a portion of the valuation allowance would result in the recognition of certain deferred tax assets and a material income tax benefit for the period in which such release is recorded.

***Other expense, net***

Other expense, net consists of the loss on change in fair value related to the 2021 Notes, foreign currency exchange gains or losses, interest income and other non-operating gains and losses.

**Results of Operations** 

The following table summarizes our historical consolidated statements of operations data:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Revenue | $521983 | $686630 | $886719 | $129015 | $170150 |
| Cost of revenue<sup>(1)</sup> | 352778 | 405557 | 541272 | 100130 | 125559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 169205 | 281073 | 345447 | 28885 | 44591 |
| Operating expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative<sup>(1)</sup> | 114183 | 143726 | 169460 | 35914 | 45005 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operations and support<sup>(1)</sup> | 42642 | 48937 | 51636 | 11841 | 13391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development<sup>(1)</sup> | 37004 | 41441 | 53950 | 12552 | 15227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 193829 | 234104 | 275046 | 60307 | 73623 |
| Operating income (loss) | (24624) | 46969 | 70401 | (31422) | (29032) |
| Interest expense | (23140) | (20282) | (20626) | (5123) | (5159) |
| Other expense, net | (68511) | (56204) | (99005) | (17082) | (25239) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (116275) | (29517) | (49230) | (53627) | (59430) |
| Provision for income taxes | 6083 | 4396 | 10079 | 2337 | 1856 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(122358) | $(33913) | $(59309) | $(55964) | $(61286) |

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_______________

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

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Cost of revenue | $58 | $36 | $28 | $9 | $5 |
| Selling, general and administrative | 5474 | 5840 | 5888 | 1588 | 1706 |
| Operations and support | 1550 | 1697 | 1177 | 372 | 194 |
| Research and development | 4403 | 4235 | 4105 | 1183 | 737 |
| Total stock-based compensation expense | $11485 | $11808 | $11198 | $3152 | $2642 |

---

------

The following table sets forth the components of our consolidated statements of operations data as a percentage of revenue:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
| Revenue | 100% | 100% | 100% | 100% | 100% |
| Cost of revenue | 68 | 59 | 61 | 78 | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 32 | 41 | 39 | 22 | 26 |
| Operating expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative | 22 | 21 | 19 | 28 | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operations and support | 8 | 7 | 6 | 9 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 7 | 6 | 6 | 10 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 37 | 34 | 31 | 47 | 43 |
| Operating income (loss) | (5) | 7 | 8 | (24) | (17) |
| Interest expense | (4) | (3) | (2) | (4) | (3) |
| Other expense, net | (13) | (8) | (11) | (13) | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (22) | (4) | (6) | (42) | (35) |
| Provision for income taxes | 1 | 1 | 1 | 2 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | (23)% | (5)% | (7)% | (43)% | (36)% |

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***Comparison of Years Ended December 31, 2023 and 2024***

<u>Revenue</u> 

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2023** | **2024** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Revenue | $521983 | $686630 | 32% |

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Revenue increased $164.6 million, or 32%, in the year ended December 31, 2024 compared to the prior year. This was primarily driven by a 20% increase in average operational fleet, concentrated in existing markets which enhanced network density and rider engagement, a 19% increase in our MAU and a 9% growth in RVD, in each case compared to 2023. The growing adoption of our LimePass offering meaningfully contributed to our RVD growth. We generate revenue through two pricing models: "Pay-As-You-Go" and LimePass, consisting of minute bundles and LimePrime. In the year ended December 31, 2024, "Pay-As-You-Go" and LimePass contributed 80% and 20% of total revenue compared to 86% and 14% of total revenue, respectively, in the prior year.

<u>Cost of Revenue</u> 

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2023** | **2024** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Cost of revenue | 352778 | 405557 | 15% |

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Cost of revenue increased $52.8 million, or 15%, in the year ended December 31, 2024 compared to the prior year. While our average operational fleet grew by 20% year-over-year, vehicle operating costs

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increased by a lower rate as we were able to achieve higher fleet utilization resulting in year-over-year RVD growth of 9%. As we grew our operational fleet, we were also able to achieve higher efficiency from our operational workforce who help manage our fleet of vehicles as well as our warehouse costs. Additionally, as a result of the change in vehicle asset useful life (see the discussion in <u>[Note 4](#i2daaa9faa0b24be68f6320125a1b1051_172)</u> to our audited consolidated financial statements included elsewhere in this prospectus), we experienced a decrease in vehicle asset depreciation expense of $27.2 million in 2024 compared to 2023. Without this decrease, cost of revenue in the year ended December 31, 2024 would have increased 23% compared to 2023 and cost of revenue as a percentage of revenue in 2024 would have been 63%.

As a percentage of revenue, cost of revenue decreased from 68% to 59% as we obtain better operating leverage and scale efficiencies and as a result of the decreased vehicle asset depreciation expense in 2024.

<u>Selling, General and Administrative</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2023** | **2024** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Selling, general and administrative | $114183 | $143726 | 26% |

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Selling, general and administrative expenses increased $29.5 million, or 26%, in the year ended December 31, 2024 compared to the prior year. The increase was primarily due to an increase of $19.1 million in our insurance costs driven by the increase in our operational fleet and rider usage. Additionally, personnel-related compensation costs increased by $6.4 million as a result of growth in headcount.

As a percentage of revenue, selling, general and administrative expenses decreased from 22% to 21%.

<u>Operations and support</u>

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2023** | **2024** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Operations and support | $42642 | $48937 | 15% |

---

Operations and support increased $6.3 million, or 15%, in the year ended December 31, 2024 compared to the prior year. Our operations and support costs increased to support our revenue growth, reflecting investments in customer service and central operations and logistics as well as overall infrastructure growth. Our personnel-related compensation costs, including our outsourced customer service team, increased by $4.5 million.

As a percentage of revenue, operations and support expenses decreased from 8% to 7% as we continued to improve operating efficiencies.

<u>Research and Development</u> 

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2023** | **2024** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Research and development | $37004 | $41441 | 12% |

---

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Research and development expenses increased $4.4 million, or 12%, in the year ended December 31, 2024 compared to the prior year. The year over year increase was primarily driven by our investment in the development of the new LimeGlider vehicle.

As a percentage of revenue, research and development expenses decreased from 7% to 6%.

<u>Interest Expense and Other Expense, net</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2023** | **2024** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Interest expense | $(23140) | $(20282) | (12)% |
| Other expense, net | $(68511) | $(56204) | (18)% |

---

Interest expense decreased $2.9 million in the year ended December 31, 2024 compared to the prior year due to lower contractual interest of $1.0 million and a reduction in the amortization of debt discounts and premiums of $1.2 million on our Senior Secured Term Loan combined with $0.9 million of extinguishment loss recognized during the year ended December 31, 2023 due to the extinguishment of certain debt in October 2023.

Other expense, net, decreased $12.3 million in the year ended December 31, 2024 compared to the prior year. We had a $36.2 million decrease in the net changes in the fair value of the 2021 Notes driven by an increase in our company value. This was partially offset by an increase of $25.3 million in foreign currency losses.

***Comparison of Years Ended December 31, 2024 and 2025***

<u>Revenue</u> 

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2024** | **2025** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Revenue | $686630 | $886719 | 29% |

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Revenue increased $200.1 million, or 29%, in the year ended December 31, 2025 compared to the prior year. This was primarily driven by an 18% increase in average operational fleet, largely concentrated in existing markets, which enhanced network density and rider engagement, a 21% increase in our MAU and a 10% growth in RVD, in each case compared to 2024.

The growing adoption of our LimePass offering meaningfully contributed to our RVD growth. In the year ended December 31, 2025, "Pay-As-You-Go" and LimePass contributed 72% and 28% of total revenue compared to 80% and 20% of total revenue, respectively, in the prior year.

<u>Cost of Revenue</u> 

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2024** | **2025** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Cost of revenue | 405557 | 541272 | 33% |

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Cost of revenue increased $135.7 million, or 33%, in the year ended December 31, 2025 compared to the prior year.

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The increase is in line with the increase in revenue as a result of a higher ridership and targeted expenditures designed to enhance fleet reliability and operational efficiency. Our average operational fleet grew by 18% year-over-year, leading to increased vehicle operating costs, warehouse costs as well as increased personnel costs from our operational workforce who help manage our fleet of vehicles.

Additionally, as a result of the change in depreciation methodology for our vehicle assets from a usage-based method to a straight-line method (see the discussion in <u>[Note 4](#i2daaa9faa0b24be68f6320125a1b1051_172)</u> to our audited consolidated financial statements included elsewhere in this prospectus), we experienced an increase in vehicle asset depreciation expense of $14.8 million in 2025 compared to 2024. Without this increase, cost of revenue in the year ended December 31, 2025 would have only increased 30% compared to 2024 and cost of revenue as a percentage of revenue in 2025 would have been 59%.

As a percentage of revenue, cost of revenue increased from 59% to 61% due primarily to the increase in vehicle asset depreciation expense as a result of the change in depreciation methodology.

<u>Selling, General and Administrative</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2024** | **2025** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Selling, general and administrative | $143726 | $169460 | 18% |

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Selling, general and administrative expenses increased $25.7 million, or 18%, in the year ended December 31, 2025 compared to the prior year. The increase was due primarily to an increase in personnel-related compensation costs of $9.8 million to support our continued growth and non-recurring costs associated with our public company readiness efforts of $7.7 million.

As a percentage of revenue, selling, general and administrative expenses decreased from 21% in 2024 to 19% in 2025.

<u>Operations and support</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2024** | **2025** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Operations and support | $48937 | $51636 | 6% |

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Operations and support expenses increased $2.7 million, or 6%, in the year ended December 31, 2025 compared to the prior year. Our operations and support costs increased to support our revenue growth, reflecting continued investments in customer service and central operations and logistics as well as overall infrastructure growth.

As a percentage of revenue, operations and support expenses decreased from 7% in 2024 to 6% in 2025 as we continued to improve operating efficiencies.

<u>Research and Development</u> 

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2024** | **2025** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Research and development | $41441 | $53950 | 30% |

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Research and development expenses increased $12.5 million, or 30%, in the year ended December 31, 2025 compared to the prior year. The year-over-year increase was driven primarily by

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investments in developing new features, optimizing existing technology, and expanding our engineering teams to support growth initiatives.

As a percentage of revenue, research and development expenses remained steady at 6% in 2024 and 2025.

<u>Interest Expense and Other Expense, net</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2024** | **2025** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Interest expense | $(20282) | $(20626) | 2% |
| Other expense, net | $(56204) | $(99005) | 76% |

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Interest expense increased $0.3 million in the year ended December 31, 2025 compared to the prior year. The year-over-year increase was driven primarily by a $0.3 million increase in interest expense on contract liability balances subject to escheatment.

Other expense, net, increased $42.8 million in the year ended December 31, 2025 compared to the prior year. The increase was due primarily to an increase in the loss on change in fair value of the 2021 Notes of $84.0 million, partially offset by an increase of $38.7 million in foreign currency gains.

***Comparison of Three Months Ended March 31, 2025 and 2026***

<u>Revenue</u> 

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| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **%**<br>**Change**  |
| | **2025** | **2026** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Revenue | $129015 | $170150 | 32% |

---

Revenue increased $41.1 million, or 32%, during the three months ended March 31, 2026 compared to the three months ended March 31, 2025. This was primarily driven by a 22% increase in average operational fleet, a 22% increase in our MAU and a 8% growth in RVD which benefited from targeted pricing actions and program impacts that helped drive monetization throughout the quarter. Additionally, we had outsized growth in the rest of the world in the first quarter of 2026 as compared to the first quarter of 2025 reflecting our investment in markets that are counter-seasonal to our primary markets.

<u>Cost of Revenue</u> 

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **%**<br>**Change**  |
| | **2025** | **2026** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Cost of revenue | 100130 | 125559 | 25% |

---

Cost of revenue increased by $25.4 million, or 25%, during the three months ended March 31, 2026 compared to the three months ended March 31, 2025.

The increase is in line with the increase in revenue as a result of a higher ridership and targeted expenditures designed to enhance fleet reliability and operational efficiency. Our average operational fleet grew by 22% year-over-year, leading to increased vehicle operating costs, warehouse costs as well as increased personnel costs from our operational workforce who help manage our fleet of vehicles.

------

As a percentage of revenue, cost of revenue decreased from 78% to 74% as we obtained better operating leverage and scale efficiencies.

<u>Selling, General and Administrative</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **%**<br>**Change**  |
| | **2025** | **2026** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Selling, general and administrative | $35914 | $45005 | 25% |

---

Selling, general and administrative expenses increased by $9.1 million, or 25%, in the three months ended March 31, 2026 compared to the three months ended March 31, 2025. The increase was due primarily to an increase in personnel-related compensation costs to support our continued growth and costs associated with our public company readiness efforts.

As a percentage of revenue, selling, general and administrative expenses decreased from 28% in the three months ended March 31, 2025 to 26% in the three months ended March 31, 2026.

<u>Operations and support</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **%**<br>**Change**  |
| | **2025** | **2026** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Operations and support | $11841 | $13391 | 13% |

---

Operations and support expenses increased by $1.6 million, or 13%, in the three months ended March 31, 2026 compared to the three months ended March 31, 2025. Our operations and support costs increased to support our revenue growth, reflecting continued investments in customer service and central operations and logistics as well as overall infrastructure growth.

As a percentage of revenue, operations and support expenses decreased from 9% in the three months ended March 31, 2025 to 8% in the three months ended March 31, 2026 as we continued to improve operating efficiencies.

<u>Research and Development</u> 

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **%**<br>**Change**  |
| | **2025** | **2026** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Research and development | $12552 | $15227 | 21% |

---

Research and development expenses increased by $2.7 million, or 21%, in the three months ended March 31, 2026 compared to the three months ended March 31, 2025. The increase was driven primarily by investments in developing new features, optimizing existing technology, and expanding our engineering teams to support growth initiatives.

As a percentage of revenue, research and development expenses decreased from 10% in the three months ended March 31, 2025 to 9% in the three months ended March 31, 2026.

------

<u>Interest Expense and Other Expense, net</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **%**<br>**Change**  |
| | **2025** | **2026** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Interest expense | $(5123) | $(5159) | 1% |
| Other expense, net | $(17082) | $(25239) | 48% |

---

Interest expense remained stable, primarily driven by fixed payments associated with our convertible notes and debt obligations.

Other expense, net, increased $8.2 million in the three months ended March 31, 2026 compared to the three months ended March 31, 2025. The increase was due primarily due to a change from foreign currency gains to foreign currency losses driving an increase of $10.8 million, partially offset by a decrease of the loss on change in fair value of the 2021 Notes of $1.8 million.

***Quarterly Results of Operations***

The following table sets forth our unaudited quarterly consolidated results of operations for each of the quarterly periods for the years ended December 31, 2024 and 2025 as well as the three months ended March 31, 2026. The unaudited quarterly statements of operations data have been prepared on the same basis as our audited consolidated financial statements included elsewhere in this prospectus and includes all adjustments, consisting only of normal recurring adjustments that, in our opinion, are necessary to state fairly the results of operations for these periods. Our historical results are not necessarily indicative of the results that may be expected in the future and the results of a particular quarter or other interim period are not necessarily indicative of the results for a full year or any other period. The following unaudited quarterly consolidated results of operations should be read in conjunction with our audited consolidated financial statements and related notes and our unaudited condensed consolidated financial statements and related notes included elsewhere in this prospectus.

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<u>Quarterly Consolidated Statements of Operations</u>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: |
| | **Mar 31,<br>2024** | **Jun 30,<br>2024** | **Sept 30, 2024** | **Dec 31,<br>2024** | **Mar 31,<br>2025** | **Jun 30,<br>2025** | **Sept 30, 2025** | **Dec 31,<br>2025** | **Mar 31,<br>2026** |
| | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Revenue | $100184 | $180954 | $240618 | $164874 | $129015 | $246068 | $301571 | $210065 | $170150 |
| Cost of revenue<sup>(1)</sup> | 72207 | 96545 | 127626 | 109179 | 100130 | 136970 | 158954 | 145218 | 125559 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 27977 | 84409 | 112992 | 55695 | 28885 | 109098 | 142617 | 64847 | 44591 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Selling, general and administrative<sup>(1)</sup> | 30913 | 31360 | 39719 | 41734 | 35914 | 39921 | 46575 | 47050 | 45005 |
| &nbsp;&nbsp;Operations and support<sup>(1)</sup> | 12158 | 12909 | 11952 | 11918 | 11841 | 13604 | 13511 | 12680 | 13391 |
| &nbsp;&nbsp;Research and development<sup>(1)</sup> | 8727 | 10695 | 11593 | 10426 | 12552 | 14031 | 13628 | 13739 | 15227 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 51798 | 54964 | 63264 | 64078 | 60307 | 67556 | 73714 | 73469 | 73623 |
| Operating income (loss) | (23821) | 29445 | 49728 | (8383) | (31422) | 41542 | 68903 | (8622) | (29032) |
| Interest expense | (4844) | (5002) | (5097) | (5339) | (5123) | (5155) | (5187) | (5161) | (5159) |
| Other income (expense), net | 1858 | (19788) | (18088) | (20186) | (17082) | (12530) | (31160) | (38233) | (25239) |
| &nbsp;&nbsp;&nbsp;Loss before income taxes | (26807) | 4655 | 26543 | (33908) | (53627) | 23857 | 32556 | (52016) | (59430) |
| Provision for income taxes | (423) | 815 | 3950 | 54 | 2337 | 3352 | 1656 | 2734 | 1856 |
| &nbsp;&nbsp;&nbsp;Net loss | $(26384) | $3840 | $22593 | $(33962) | $(55964) | $20505 | $30900 | $(54750) | $(61286) |

---

_____________

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: |
| | **Mar 31,<br>2024** | **Jun 30,<br>2024** | **Sept 30, 2024** | **Dec 31,<br>2024** | **Mar 31,<br>2025** | **Jun 30,<br>2025** | **Sept 30, 2025** | **Dec 31,<br>2025** | **Mar 31,<br>2026** |
| | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Cost of revenue | $11 | $6 | $10 | $9 | $9 | $9 | $6 | $4 | $5 |
| Selling, general and administrative | 1558 | 1251 | 1487 | 1544 | 1588 | 1458 | 1444 | 1398 | 1706 |
| Operations and support | 402 | 433 | 435 | 427 | 372 | 342 | 278 | 185 | 194 |
| Research and development | 910 | 1078 | 1139 | 1108 | 1183 | 1161 | 944 | 817 | 737 |
| Total stock-based compensation | $2881 | $2768 | $3071 | $3088 | $3152 | $2970 | $2672 | $2404 | $2642 |

---

------

<u>Consolidated Statements of Operations, as a percentage of revenue</u>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: |
| | **Mar 31,<br>2024** | **Jun 30,<br>2024** | **Sept 30, 2024** | **Dec 31,<br>2024** | **Mar 31,<br>2025** | **Jun 30,<br>2025** | **Sept 30, 2025** | **Dec 31,<br>2025** | **Mar 31,<br>2026** |
| Revenue | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Cost of revenue | 72% | 53% | 53% | 66% | 78% | 56% | 53% | 69% | 74% |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 28% | 47% | 47% | 34% | 22% | 44% | 47% | 31% | 26% |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Selling, general and administrative | 31% | 17% | 17% | 25% | 28% | 16% | 15% | 22% | 26% |
| &nbsp;&nbsp;Operations and support | 12% | 7% | 5% | 7% | 9% | 6% | 4% | 6% | 8% |
| &nbsp;&nbsp;Research and development | 9% | 6% | 5% | 6% | 10% | 6% | 5% | 7% | 9% |
| &nbsp;&nbsp;Total operating expenses | 52% | 30% | 26% | 39% | 47% | 27% | 24% | 35% | 43% |
| Operating income (loss) | (24)% | 16% | 21% | (5)% | (24)% | 17% | 23% | (4)% | (17)% |
| Interest expense | (5)% | (3)% | (2)% | (3)% | (4)% | (2)% | (2)% | (2)% | (3)% |
| Other income (expense), net | 2% | (11)% | (8)% | (12)% | (13)% | (5)% | (10)% | (18)% | (15)% |
| &nbsp;&nbsp;Loss before income taxes | (27)% | 3% | 11% | (21)% | (42)% | 10% | 11% | (25)% | (35)% |
| Provision for income taxes | —% | —% | 2% | —% | 2% | 1% | 1% | 1% | 1% |
| &nbsp;&nbsp;Net loss | (26)% | 2% | 9% | (21)% | (43)% | 8% | 10% | (26)% | (36)% |

---

<u>Quarterly Key Operating Metrics</u>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: |
| | **Mar 31,<br>2024** | **Jun 30,<br>2024** | **Sept 30, 2024** | **Dec 31,<br>2024** | **Mar 31,<br>2025** | **Jun 30,<br>2025** | **Sept 30, 2025** | **Dec 31,<br>2025** | **Mar 31,<br>2026** |
| Average Operational Fleet | 205973 | 287736 | 319393 | 290199 | 265530 | 333827 | 355984 | 344073 | 324477 |
| RVD ($) | $5.34 | $6.91 | $8.19 | $6.18 | $5.40 | $8.10 | $9.21 | $6.64 | $5.83 |
| MAU ('000s) | 2061 | 3311 | 4015 | 3122 | 2578 | 4114 | 4705 | 3778 | 3137 |

---

<u>Quarterly Trends</u>

*Revenue*

Revenue increased for all quarters presented compared to the same quarter in the prior year, driven by growth in average operational fleet, MAU and RVD, each of which increased for all quarters presented compared to the same quarter in the prior year. This growth resulted from enhanced customer engagement and broader market adoption of our services. Quarter-over-quarter performance reflects seasonal demand fluctuations, with revenue peaking in the second and third quarters due to favorable weather conditions in many operating regions, which boost user activity during warmer and drier months. However, our revenue trend in the first quarter of 2026 as compared to the first quarter of 2025 also reflected outsized growth in the rest of the world as a result of our investment in markets that are counter-seasonal to our primary markets.

------

*Cost of Revenue*

Cost of revenue increased for all quarters presented compared to the same quarter in the prior year, driven by higher operational activity corresponding with the growth in MAU and RVD. Additionally, during 2025, the cost of revenue as a percentage of revenue increased compared to the same quarters in 2024, except for the third quarter of 2025, primarily due to a change in depreciation methodology from a usage-based to a straight-line method (refer to <u>[Note 4](#i2daaa9faa0b24be68f6320125a1b1051_172)</u> of our audited consolidated financial statements) such that depreciation as a percentage of revenue decreases in periods of peak usage and revenue.

*Selling, General and Administrative* 

Selling, general, and administrative expenses increased for all quarters presented compared to the same quarter in the prior year. This increase was primarily driven by higher personnel-related compensation costs due to headcount growth and non-recurring costs incurred associated with our public company readiness efforts.

Expenses as a percentage of revenue decreased year-over-year compared to the prior year, reflecting improved operational efficiency and revenue growth outpacing the rise in costs. Additionally, selling, general, and administrative expenses as a percentage of revenue are lower in the second and third quarters due to seasonal demand fluctuations during these periods, as many of these expenses remain fixed regardless of revenue seasonality.

*Operations and Support*

Operations and support expenses remained consistent or increased for all quarters presented compared to the same quarter in the prior year. The increases were driven by higher costs to support revenue growth, reflecting investments in customer service, central operations, logistics, and overall infrastructure scaling. As a percentage of revenue, operations and support expenses decreased each quarter when compared to the same quarter in the previous year. This decline reflects improved operational efficiency and our ability to manage operational expenses effectively while accommodating increased user activity and geographic expansion.

*Research and Development* 

Research and development expenses increased for all quarters presented compared to the same quarter in the previous year. The increases were primarily driven by investments in developing new features, optimizing existing technology, and expanding our engineering teams to support growth initiatives. Quarter-over-quarter variations in research and development expenses align with strategic priorities and the timing of significant development projects aimed at sustaining competitive differentiation and addressing the evolving mobility needs of cities and rider preferences.

*Interest Expense* 

Interest expense remained stable quarter-over-quarter, primarily driven by fixed payments associated with our convertible notes and debt obligations.

*Other Expense, net*

Other expense, net, fluctuated significantly during each period presented, primarily due to fair value adjustments related to our 2021 Notes and the impact of foreign currency gains and losses resulting from exchange rate volatility.

**Liquidity and Capital Resources** 

As of March 31, 2026, our principal sources of liquidity were cash and cash equivalents of approximately $261.3 million which consisted of bank deposits, institutional money market funds and certificates of deposits denominated in U.S. dollars and excludes short-term restricted cash of $77.3

------

million which consisted primarily of amounts held in separate trust accounts and restricted bank accounts as collateral for insurance purposes and amounts pledged to secure certain letters of credit.

Historically, we have funded our capital-intensive operations and capital expenditures primarily through equity, equity-linked and debt issuances and cash generated from our operations. We have principal payments on the 2020 Notes, 2021 Notes and the Senior Secured Term Loan of approximately $845.8 million due within twelve months from the issuance of our unaudited condensed consolidated financial statements as of and for the three months ended March 31, 2026 and we do not currently have sufficient liquidity to repay them. These conditions raise substantial doubt about our ability to continue as a going concern for at least one year from the date our condensed consolidated financial statements as of and for the three months ended March 31, 2026 were available for issuance. Our ability to continue as a going concern is dependent upon the consummation of our initial public offering. If our initial public offering is not completed as planned, our ability to continue as a going concern is dependent upon our ability to obtain necessary financing to meet our obligations or the ability to obtain an amendment to our 2021 Notes on acceptable terms.

Our future capital requirements will also depend on many factors, including, but not limited to our growth, our ability to attract and retain riders and cities on our platform, the continuing market acceptance of our offerings, the timing and extent of spending to support our efforts to develop our platform and the expansion of sales and marketing activities. Further, we may in the future enter into arrangements to acquire or invest in businesses, products, services, and technologies.

We may be required to seek additional equity or debt financing. In the event that additional equity or debt 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 needed, our business, financial condition, results of operations, and prospects could be materially and adversely affected.

***Cash Flows***

The following table summarizes our cash flows for the periods indicated:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31** | **Three Months Ended March 31** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Net cash provided by (used in) operating activities | $81199 | $168953 | $214841 | $(20615) | $(22302) |
| Net cash used in investing activities | (80128) | (121652) | (111053) | (51539) | (56889) |
| Net cash provided by financing activities | 2214 | 3053 | 1610 | 1912 | 9530 |
| Effect of exchange rate changes on cash and cash equivalents, and restricted cash | 3408 | (9209) | 9571 | 2751 | (1733) |
| Net increase (decrease) in cash and cash equivalents, and restricted cash | $6693 | $41145 | $114969 | $(67491) | $(71394) |

---

***Operating Activities***

Cash used by operating activities was $22.3 million for the three months ended March 31, 2026. This consisted of a net loss of $61.3 million, adjusted for non-cash items, which primarily included depreciation and amortization expense of $30.3 million and a loss on change in fair value of the 2021 Notes of $25.0

------

million. These amounts were partially offset by a $16.3 million increase in prepaid expenses and other current assets due to investment in spare parts ahead of our peak season.

Cash used by operating activities was $20.6 million for the three months ended March 31, 2025. This primarily consisted of a net loss of $56.0 million and a $15.4 million decrease in accrued and other liabilities due to the timing of payments. These amounts were partially offset by non-cash items, which primarily included depreciation and amortization expense of $28.4 million and loss on change in fair value of the 2021 Notes of $26.8 million.

Cash provided by operating activities was $214.8 million for the year ended December 31, 2025. This consisted of a net loss of $59.3 million, adjusted for non-cash items, which primarily included depreciation and amortization expense of $124.7 million, loss on change in fair value of the 2021 Notes of $125.0 million, stock-based compensation expense of $11.2 million, combined with a $25.1 million increase in accrued and other liabilities due to the timing of payments.

Cash provided by operating activities was $169.0 million for the year ended December 31, 2024. This consisted of a net loss of $33.9 million, adjusted for non-cash items, which primarily included depreciation and amortization expense of $89.5 million, loss on change in fair value of the 2021 Notes of $41.0 million, stock-based compensation expense of $11.8 million combined with a $25.0 million increase in accrued and other liabilities due to the timing of payments.

Cash provided by operating activities was $81.2 million for the year ended December 31, 2023. This consisted of a net loss of $122.4 million, adjusted for non-cash items, which primarily included depreciation and amortization expense of $106.3 million, loss on change in fair value of the 2021 Notes of $77.2 million, stock-based compensation expense of $11.5 million combined with a $18.2 million increase in accrued and other liabilities due to the timing of payments.

***Investing Activities***

Cash used in investing activities was $56.9 million and $51.5 million for the three months ended March 31, 2026 and 2025, respectively, which was largely driven by purchases of vehicle assets of $52.5 million and $48.4 million for the three months ended March 31, 2026 and 2025, respectively, as we invested in growing our fleet. We also purchased non-vehicle assets to support our overall business growth.

Cash used in investing activities was $111.1 million, $121.7 million and $80.1 million for the years ended December 31, 2025, 2024 and 2023, respectively, which was largely driven by purchases of vehicle assets of $97.9 million, $104.5 million and $65.1 million for the years ended December 31, 2025, 2024 and 2023, respectively, as we invested in growing our fleet. We also purchased non-vehicle assets to support our overall business growth.

***Financing Activities***

Cash provided by financing activities was $9.5 million for the three months ended March 31, 2026, which primarily consisted of $9.1 million received for the settlement of promissory notes issued in exchange for the early exercise of stock options.

Cash provided by financing activities was $1.9 million for the three months ended March 31, 2025, which consisted entirely of proceeds from the exercise of stock options and other common stock issuances.

Cash provided by financing activities was $1.6 million for the year ended December 31, 2025, which primarily consisted of $6.4 million of proceeds from the exercise of stock options and other common stock issuances, partially offset by $4.8 million of deferred offering costs.

Cash provided by financing activities was $3.1 million for the year ended December 31, 2024 which consisted entirely of proceeds from the exercise of stock options and other common stock issuances.

------

Cash provided by financing activities was $2.2 million for the year ended December 31, 2023 which primarily consisted of $112.7 million of net proceeds from issuance of our Senior Secured Term Loan, partially offset by $105.0 million of principal repayment on prior term loans and $5.3 million of payments of fees relating to prior term loans.

**Contractual Obligations and Commitments** 

***Debt.*** As of March 31, 2026, we had $115.0 million of outstanding debt under our Senior Secured Term Loan that is due in September 2026. We also had $536.1 million aggregate principal amount, and accrued in PIK interest, of 2021 Notes outstanding and $170.0 million aggregate principal amount of 2020 Notes outstanding that will be due in October 2026 and May 2027, respectively, if not converted prior to that date. For additional discussion of our debt arrangements, see <u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_206)[9](#i2daaa9faa0b24be68f6320125a1b1051_206)</u> to our audited consolidated financial statements and <u>[Note 8](#i2daaa9faa0b24be68f6320125a1b1051_200)</u> to our unaudited condensed consolidated financial statements included elsewhere in this prospectus.

***Operating lease commitments.*** Our operating lease commitments primarily consist of the leases for our warehouses, hubs, offices and vehicles. As of March 31, 2026, we had fixed lease payment obligations of $43.7 million, with $10.2 million to be paid within 12 months and the remainder thereafter. For additional discussion of our operating leases, see <u>[Note 7](#i2daaa9faa0b24be68f6320125a1b1051_194)</u> to our audited consolidated financial statements included elsewhere in this prospectus.

***Letters of credit.*** We maintain various stand-by letters of credit and guarantees from third-party financial institutions in the ordinary course of business to guarantee performance obligations related to certain vehicle and battery manufacturing, real estate leases, insurance policies, and other contractual agreements. The letters of credit are collateralized by restricted cash and we had an outstanding balance of $82.6 million as of March 31, 2026.

**Off-Balance Sheet Arrangements** 

We did not have during the periods presented, and we do not currently have, any off-balance sheet financing arrangements or any relationships with unconsolidated entities or financial partnerships, including entities sometimes referred to as structured finance or special purpose entities, that were established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes.

**Qualitative and Quantitative Disclosures about Market Risk** 

We are exposed to market risks in the ordinary course of our business. These risks primarily consist of fluctuations in interest rates and foreign currency exchange rates. We do not enter into derivatives or other financial instruments for trading or speculative purposes, and we do not otherwise have any derivative or other financial instruments outstanding.

Inflationary factors, such as increases in our costs of revenues and operating expenses, may adversely affect our operating results. Although we do not believe inflation has had a material impact on our financial condition, results of operations, or cash flows to date, a high rate of inflation in the future may have an adverse effect on our ability to maintain and increase our gross margin or decrease our operating expenses as a percentage of our revenues if the prices of our services do not increase as much or more than our increase in costs.

***Interest Rate Risk***

As of March 31, 2026, we had unrestricted cash and cash equivalents of approximately $261.3 million which consisted primarily of bank deposits, institutional money market funds and certificates of deposits and short-term and long-term restricted cash of $82.6 million which consists of amounts pledged as security for letters of credits or other collateral amounts as well as amounts that are unavailable for immediate use due to legal and/or contractual restrictions. The fair value of our cash and cash

------

equivalents would not be significantly affected by either an increase or decrease in interest rates given the short-term nature of these instruments.

As of March 31, 2026, we had $115.0 million of outstanding debt under our Senior Secured Term Loan that is due in September 2026. We also had $536.1 million aggregate principal amount, and accrued in PIK interest, of 2021 Notes outstanding and $170.0 million aggregate principal amount of 2020 Notes outstanding that will be due in October 2026 and May 2027, respectively, if not converted prior to that date. All of our outstanding debt bears interest at fixed rates. We carry the Senior Secured Term Loan and the 2020 Notes at face value, less unamortized discount and issuance costs on the consolidated balance sheet, and we carry the 2021 Notes at fair value with changes in fair value recorded as a component of other expense, net. The fair value of the 2021 Notes will generally fluctuate with movements of interest rates, increasing in periods of declining rates of interest and declining in periods of increasing rates of interest. A hypothetical 100 basis point increase (decrease) in interest rates would have resulted in an approximately $0.8 million decrease ($0.8 million increase) in the fair value of the 2021 Notes as of March 31, 2026.

***Foreign Currency Exchange Risk***

We transact business globally in multiple currencies. Our international revenue, as well as costs and expenses denominated in foreign currencies, expose us to the risk of fluctuations in foreign currency exchange rates against the U.S. dollar. Accordingly, changes in exchange rates may negatively affect our future revenue and other operating results as expressed in U.S. dollars. Our foreign currency risk is partially mitigated as our revenue recognized in currencies other than the U.S. dollar is diversified across geographic regions and we incur expenses in the same currencies in such regions.

We have experienced and will continue to experience fluctuations in our results of operations as a result of transaction gains or losses related to remeasurement of our asset and liability balances that are denominated in currencies other than the functional currency of the entities in which they are recorded. Beginning in April 2026, we entered into certain foreign currency derivative contracts which are intended to partially mitigate the foreign exchange risk associated with assets and liabilities denominated in currencies other than our functional currency. While these contracts may help reduce the impact of foreign currency fluctuations, they will not fully eliminate this risk.

**Critical Accounting Policies and Estimates**

Our consolidated financial statements and the related notes thereto included elsewhere in this prospectus are prepared in accordance with GAAP. The preparation of consolidated financial statements also requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, costs and expenses and related disclosures. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results could differ significantly from our estimates. 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 believe that the accounting policies described below involve a significant degree of judgment and complexity. Accordingly, we believe these are the most critical to aid in fully understanding and evaluating our consolidated financial condition and results of operations. For further information, see <u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_132)[1](#i2daaa9faa0b24be68f6320125a1b1051_132)</u> to our audited consolidated financial statements included elsewhere in this prospectus.

***Vehicle Assets, Net***

Our vehicles consist of our fleet of e-scooters and e-bikes, as well as costs incurred to bring the vehicles and related swappable batteries to the condition and location necessary for their intended use, such as shipping, freight, and various customs duties.

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Prior to January 1, 2025, vehicle assets were depreciated using a usage-based depreciation methodology. The methodology involved the calculation of depreciation expense for each vehicle based on the number of trips taken as a percentage of total trips expected and factored in actual, historical, and other data for different vehicle types. The methodology applied to swappable batteries involved the calculation of depreciation expense for each battery based on the number of trips taken as a percentage of total trips expected and factors in the expected life cycle per manufacturer's specifications, estimated swaps and charge cycles per year and the expected number of years until the battery becomes obsolete.

Effective January 1, 2025, we changed our depreciation methodology for vehicle assets from a usage-based method to a straight-line method. We determined that the change in depreciation method is a change in accounting estimate affected by a change in accounting principle to be applied prospectively. The change is considered preferable as we believe the straight-line method will more accurately reflect the pattern of economic consumption of vehicle assets and result in improved financial reporting. We estimate useful lives of five years for e-scooters and e-bikes and four years for swappable batteries.

We review and update our estimated useful life assumptions on a regular basis.

***Fair Value Option***

We elected the fair value option to account for the 2021 Notes, which are measured at fair value with changes in fair value recorded as a component of other expense, net in our consolidated statements of operations and changes in instrument-specific credit risk in our consolidated statements of comprehensive loss.

***Insurance***

We rely on a combination of third-party insurance and retention mechanisms to cover various business and micromobility-related risks, including, but not limited to, general liability, automobile liability, excess liability, workers' compensation, property, cyber liability, and directors' and officers' liability. To comply with certain city and country insurance regulatory requirements for micromobility-related risks, in certain jurisdictions we also obtain rider insurance coverages. Rider insurance coverages, a relatively new insurance product specific to the micromobility industry, may include rider liability for third-party bodily injury and property damage and injury coverage to the rider themselves. Rider insurance coverages and limits vary by vehicle type and jurisdiction and are mostly obtained outside of the United States.

We establish a claims reserve for unpaid losses and loss adjustment expenses for risks retained by us through our retention mechanisms. Estimating the number and severity of claims, as well as related judgment or settlement amounts, is inherently complex, subjective, and speculative. We employ various predictive modeling and actuarial techniques and make numerous assumptions based on available historical experience and industry statistics to estimate our claims reserve.

While management believes that the claims reserve amount is adequate, the ultimate liability may be in excess of, or less than, the amount provided. A number of external factors can affect the losses incurred, including but not limited to claim reporting delays, the length of time the claim remains open, increases in healthcare costs, legislative and regulatory developments, judicial developments, the general trend of increasing settlement amounts in litigation, and other unexpected events. As a result, the net amounts that will ultimately be paid to settle the liability and when amounts will be paid may vary from the estimated amounts provided for on the consolidated balance sheets. For a discussion of risks related to our insurance, see "Risk Factors—Risks Related to Legal and Regulatory Matters—We rely on third-party insurance policies to insure against risks related to our business. If insurance carriers change the terms of such insurance in a manner not favorable to us, if our insurance coverage is insufficient, if we are required to purchase additional insurance, if regulations governing insurance coverages change, or if our insurance providers are unable or unwilling to meet their obligations, our business, financial condition, results of operations, and prospects could be adversely affected" and "Risk Factors—Risks Related to

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Legal and Regulatory Matters—Our insurance claims reserve may be inadequate, which could adversely affect our business, financial condition, results of operations, and prospects."

***Stock-Based Compensation***

Stock-based compensation expense is measured and recorded based on the grant-date fair value of the stock-based awards. The fair value of the shares of common stock underlying our stock options and RSUs on the grant date has been determined by the board of directors, as there is no public market for our underlying common stock. We recognize stock-based compensation expense for service-based awards on a straight-line basis over the requisite service period of the individual grant, generally equal to the vesting period. Certain awards vest monthly over a three year period, while other awards cliff vest after one-year and then vest monthly over the remaining two years. We record forfeitures as they occur.

We use the Black-Scholes-Merton option-pricing model ("Black-Scholes model") to determine the fair value of stock option awards. The Black-Scholes model requires the use of objective and subjective assumptions, including the fair value of common stock, expected volatility, risk free interest rate, expected dividend and option's expected term of the underlying stock.

Since our stock is not publicly traded, we obtained an independent, third-party valuation to determine the fair value of our common stock, considering the nature of our business, earning capacity, distribution capacity and other material events and general market conditions and outlooks. The expected volatility is based on the historical and implied volatility of similar companies whose stock or option prices are publicly available, after considering the industry, stage of life cycle, size, market capitalization, and financial leverage of the other companies. The risk-free interest rate assumption is based on observed U.S. Treasury yield curve interest rates in effect at the time of grant appropriate for the expected term of the stock options granted. We have not paid dividends in the past and do not expect to pay dividends in the foreseeable future. As a result, a zero expected dividend yield is used. We use the simplified method to compute the expected term for options granted to employees which averages the weighted average vesting period and the contractual term on the valuation date.

We also grant stock options with performance conditions and market conditions. No stock-based compensation expense for these awards was recorded in the year ended December 31, 2025 and the three months ended March 31, 2026, as the performance conditions were not deemed probable of being met. Total stock-based compensation expense not yet recognized related to these awards was immaterial as of December 31, 2025 and March 31, 2026.

In 2025, we began granting RSUs that vest upon the satisfaction of both service-based and liquidity-based vesting conditions. The service-based vesting period for these awards is typically 3 years, provided the grantee remains in continuous service. Upon satisfaction of the liquidity-based vesting condition, RSUs for which the service-based vesting condition has also been satisfied will vest immediately, and any remaining unvested RSUs will vest ratably over the remaining service period. The liquidity-based condition will be satisfied upon the completion of this offering. If the liquidity-based vesting condition had been satisfied as of March 31, 2026, we would have recorded stock-based compensation expense of $19.2 million, and unrecognized stock-based compensation expense related to RSUs for which the service-based condition had not been satisfied as of March 31, 2026 would have been $71.1 million, which would have been recognized over a weighted-average remaining requisite service period of 1.2 years.

**JOBS Act Accounting Election** 

We are an emerging growth company, as defined in the JOBS Act. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. We have elected to avail ourselves of this exemption from new or revised accounting standards. As a result, our consolidated financial statements may or may not be comparable to companies that comply with new or revised accounting pronouncements as of the effective dates applicable to public companies.

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**Recent Accounting Pronouncements** 

For more information on recently issued accounting pronouncements, see <u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_132)[1](#i2daaa9faa0b24be68f6320125a1b1051_132)</u> to our audited consolidated financial statements included elsewhere in this prospectus.

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![businesscover1a.jpg](businesscover1a.jpg)

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**BUSINESS**

**Overview**

Lime is the largest global shared micromobility business. We are on a mission to build a future where transportation is shared, affordable, and carbon-free.

Lime provides convenient and reliable short-term rentals of e-scooters and e-bikes at an affordable price. As of December 31, 2025, we operated in approximately 230 cities<sup>7</sup> across 29 countries<sup>8</sup>. In 2025, we delivered a seamless rider experience to approximately 19 million riders. Our market leadership and scale have made Lime a widely recognized brand — valued by riders for our availability and trusted by cities for our operating track record. This leadership and scale have also yielded favorable unit economics, enabling us to continue investing in our growth.

The shared micromobility industry, encompassing shared e-scooters and e-bikes, presents a transformative opportunity to address the problems of urban mobility. Cities seek transportation options that relieve congestion, reduce emissions, and serve different neighborhoods; riders desire convenient, affordable, and sustainable alternatives for short trips. Balancing the needs of riders and cities — and doing so across approximately 230 cities — is operationally challenging and requires technology to solve at scale.

Lime has revolutionized the shared micromobility industry through our vertically integrated platform, which combines our proprietary hardware and software, data, tech-enabled operations, and government relations expertise. Our vertical integration allows us to maintain control of key aspects of our service and is designed to accelerate rider adoption, boost usage frequency, facilitate regulatory compliance, and optimize cost efficiency — fueling sustainable growth while solidifying trusted partnerships with cities and positioning us as a leader in the shared micromobility industry.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Proprietary Hardware</u>: Our electric vehicle fleet consists of e-scooters, e-bikes, and seated e-scooters, and operates on a "free-floating" model — meaning e-scooters or e-bikes that are dockless and can be parked in a variety of locations — which is designed to provide maximum convenience to riders and flexibility to cities. We design and engineer our vehicles in-house to elevate the rider experience, support regulatory compliance, enhance safety, and reduce our lifetime cost of ownership.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Software</u>: Lime's proprietary technology stack seamlessly connects our hardware, software, and operations through three core systems: the Rider App for riders, an operations-facing app, the Lime Supply App for operations management, and an IoT-enabled hardware system for vehicle intelligence. The Rider App enables frictionless vehicle discovery and locking/unlocking, while the Lime Supply App equips our operations workforce to manage and maintain our fleet. Within the Lime Supply App, predictive analytics prioritize vehicles requiring repositioning from one location to another, charging, or maintenance while machine learning forecasts demand patterns to help optimize fleet placement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Data</u>: Our platform harnesses data, such as rider behavior, operational workflows, and hardware/software diagnostics, to inform dynamic decision-making in real-time and our hardware design. Leveraging data from vehicle usage trends, gaps in demand, prioritized operational field tasks, and external inputs like weather help us to optimize fleet performance and advance city congestion goals.

<sup>7</sup>&nbsp;&nbsp;&nbsp;&nbsp; As used in this prospectus, a "city" may refer to a metropolitan area that may be a city or could include regions outside of city limits or in defined areas of operation within a metropolitan area.

<sup>8</sup>&nbsp;&nbsp;&nbsp;&nbsp; The principal countries we have operated in are the United States, the United Kingdom, and France from which we generated 33%, 15%, and 11% of total revenue, respectively, in 2023, 34%, 21%, and 10%, respectively, in 2024, 32%, 22%, and 10%, respectively, in 2025, and 29%, 23%, and 8%, respectively, in the three months ended March 31, 2026.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Tech-Enabled Operations</u>: Our tech-enabled operations address shared micromobility's logistical complexity — including volatile demand, workforce availability, and the challenges of operating in dense urban environments — by utilizing software and data in day-to-day decision-making. Our operations software tactically informs vehicle deployment, maintenance, and repositioning tasks, transforming physical workflows into scalable, predictive processes. By leveraging data-driven tools to guide fleet allocation and task prioritization across our markets, subject to local regulatory and labor frameworks, we believe we can maximize vehicle availability and operational efficiency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Government Relations</u>: Our dedicated government relations and local customer service teams collaborate closely with cities to establish scalable transportation systems and forge policies that are designed to address and evolve with both rider and urban needs. We pair our operational expertise with deep local knowledge and in-depth discussions with city officials to secure permits to operate in a city and co-create shared micromobility systems that align with city priorities, such as equitable access and public transit connectivity.

Our platform creates a self-reinforcing, virtuous network effect that aligns value for riders and city priorities: more riders using our service enables cities to meet their local policy goals faster, which encourages cities to expand shared micromobility programs and invest in additional infrastructure, which in turn enhances the rider experience and attracts even more riders. What started as convenience enjoyed by individual riders has, through our platform, reshaped how people move around cities, which demonstrates that shared micromobility isn't just viable but can be an essential component of urban life.

The extensive presence of our electric vehicles in cities around the world has established our brand with the public, reinforcing our leadership position in the shared micromobility industry. Each of our e-scooters and e-bikes serves as mobile advertisements within the cities in which we operate, continuously reinforcing brand recognition. Our reach is further amplified through our network partnerships, including our mutually exclusive partnership with Uber. Lime vehicles are featured as a ride option within the Uber app in nearly all of our shared markets, providing Lime with direct access to Uber's global user base. Revenue generated through our partnership with Uber was approximately 14.1%, 15.8%, and 14.3% of total revenue in 2023, 2024, and 2025, respectively, and was approximately 14.5% and 14.0% for the three months ended March 31, 2025 and March 31, 2026, respectively.

We believe our platform, combined with our global scale, market leadership, brand awareness, efficient operating model, and network partnerships creates significant competitive advantages, which has positioned us as a leader in the shared micromobility industry, has fueled sustained growth over time, and has contributed to our significant market share. We calculate our market share primarily using data for MAAUs from Sensor Tower for each of the countries we operated in and supplementing with publicly available information and our internal data. For the year ended December 31, 2025, our market share across both docked and dockless shared micromobility operators was approximately 27% across the countries we operated in, representing a 1% increase from the prior year and nearly three times the market share of the next largest operator by MAAUs, and 37% in the United States, representing a 4% increase from the prior year. When focusing solely on dockless shared micromobility operators, our market share was approximately 35% across the countries we operated in and 48% in the United States, representing a 2% and 6% increase from the prior year, respectively.

We view our opportunity in terms of serviceable addressable market opportunity ("SAM"), which we believe we can address today, and our total addressable market opportunity ("TAM"), which we believe we can address over the long term. We estimate our SAM to be approximately $6.1 billion. Our SAM of $6.1 billion reflects current micromobility adoption of approximately 15% of the addressable population within our existing cities, which we define as individuals ages 18-45 years old with a household income of over $55,000 per year. However, we see that in our more mature markets, the industry has reached adoption levels in the range of 30-40% among the addressable population. We believe there is potential to reach these levels of adoption across our existing cities, which would imply a SAM opportunity of approximately $12.0 billion at 30% adoption among our addressable population. To arrive at our TAM from our SAM, we expand the aperture of cities to include those we have identified as expansion

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opportunities within the next five years. At an adoption rate of 30% of riders in our addressable population within this expanded set of cities, our market opportunity would be $22.0 billion. If we further assume full adoption by people within our addressable population within each city, we estimate our TAM to be approximately $69.1 billion.

Our financial performance demonstrates the resilience and strength of our platform. In 2023, 2024, and 2025, we generated revenue of $522.0 million, $686.6 million, and $886.7 million, respectively, representing year-over-year growth of 32% and 29%. In the same periods, we recorded gross profit of $169.2 million, $281.1 million, and $345.4 million, respectively, representing year-over-year growth of 66% and 23%, and Adjusted Gross Profit of $276.3 million, $368.6 million, and $467.2 million, respectively, representing year-over-year growth of 33% and 27%. In 2023, 2024, and 2025, we had net losses of $122.4 million, $33.9 million, and $59.3 million, respectively. In 2023, 2024, and 2025, we recorded Adjusted EBITDA of $99.8 million, $153.4 million, and $218.1 million, respectively, representing year-over-year growth of 54% and 42%, and operating (loss) income of $(24.6) million, $47.0 million, and $70.4 million, respectively.

In the three months ended March 31, 2025 and March 31, 2026, we generated revenue of $129.0 million and $170.2 million, respectively, representing year-over-year growth of 32%. In the same periods, we recorded gross profit of $28.9 million and $44.6 million, respectively, representing year-over-year growth of 54%, and Adjusted Gross Profit of $56.5 million and $74.2 million, respectively, representing year-over-year growth of 31%. In the three months ended March 31, 2025 and March 31, 2026, we had net losses of $56.0 million and $61.3 million, respectively. In the three months ended March 31, 2025 and March 31, 2026, we recorded Adjusted EBITDA of $2.1 million and $7.5 million, respectively, representing year-over-year growth of 250%, and operating losses of $31.4 million and $29.0 million, respectively.

For a reconciliation of Adjusted Gross Profit and Adjusted EBITDA to the most directly comparable GAAP financial measures, information about why we consider Adjusted Gross Profit and Adjusted EBITDA useful, and a discussion of the limitations of these measures, please see the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures."

**The Shared Micromobility Industry**

Shared micromobility facilitates short-distance urban travel, typically under five miles, using shared lightweight vehicles like e-scooters and e-bikes. Riders use a mobile app to locate, unlock, and ride nearby vehicles, offering an affordable, convenient complement to public transit and an alternative to private cars.

The shared micromobility industry emerged in the mid-2000s with the introduction of government-sponsored dock-based bike-share systems in major cities, which established the foundation for shared micromobility but also exposed key constraints. These systems relied on bulky manual bikes with limited rider appeal, low connectivity and imprecise GPS geolocation technology, and fixed docking stations that restricted riders to specific pick-up and return points. The physical stations lacked sufficient density, which curbed adoption for these systems and created latent demand for more flexible and scalable solutions.

The limitations of traditional docked systems spurred significant breakthroughs in shared micromobility resulting in the emergence of the modern micromobility industry in 2017, driven by technological advancements in smartphones, GPS tracking, IoT connectivity, and batteries. Within the United States, the number of app-enabled free-floating systems has grown five-fold since their introduction in 2017, while the number of traditional docked systems have declined by nearly 50% over the same period according to the U.S. Department of Transportation in 2025.

With the majority of journeys relying on cars and public transportation globally, and travel and tourism driving an estimated $11 trillion in annual global spending in 2024 according to the World Travel and Tourism Council, shared micromobility has emerged as a critical solution for two of urban mobility's

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largest and most impactful opportunities: replacing car-dependent routines and enhancing visitor experiences. These opportunities can be categorized into two primary use cases:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Commuting</u>: Urban areas face increasing congestion, while limited parking availability and high parking costs create additional challenges for commuters. Shared e-scooters and e-bikes provide a time- and cost-efficient alternative or complement to private cars and public transit for riders who are commuting to and from work or school. This mode of transportation can reduce travel time, eliminate parking costs, and bridge the first- and last-mile gap between transit stations and destinations. Riders can also depend on shared micromobility to navigate quickly between meetings in congested cities or for everyday errands, such as grocery runs and pharmacy visits, which are inconvenient for cars in traffic or often inefficient on foot.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Tourism</u>: Tourists can embrace shared micromobility as an immersive way to explore cities, valuing experiences that blend serendipity, sensory engagement, and fun. Shared micromobility offers sensory benefits similar to walking with an affordable and flexible mode of transportation to neighborhoods and shops beyond the reach of buses or trains, but enabling exploration at up to five times the speed of walking. Whether exploring a city's neighborhoods, visiting a museum, or bypassing traffic on the way to the shopping district, shared micromobility transforms how people are able to navigate cities while having fun.

As riders experience the convenience, availability, and flexibility of shared micromobility, its applications continue to expand well beyond commuting and tourism. Riders continue to discover new use cases for multimodal shared micromobility, fueled by social outings to local entertainment and special events or local commerce. Whether on a date night, meeting friends for coffee, or attending a sporting event or concert, shared micromobility seamlessly integrates into urban living, transforming transportation into an enjoyable part of the day.

**What It Takes to Operate in the Shared Micromobility Industry**

Any company seeking to operate within the shared micromobility industry must be able to meet three prerequisite criteria: permits and operating compliance, compliant hardware, and operations workforce.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Permits and Operating Compliance</u>: Permits are often required to legally operate a shared micromobility fleet on public streets within a city's limits. Cities often grant a limited number of permits, usually to one to three shared micromobility operators, through a competitive bid process. Securing a permit requires that the micromobility operator have a deep understanding of each city's unique needs and priorities, which can vary significantly based on factors such as population density, transportation infrastructure, and local policy priorities. Once a permit is granted, micromobility operators must maintain compliance with applicable regulations and other operating requirements specified in the permit in order to retain and renew the permit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Compliant Hardware</u>: Micromobility operators must deploy vehicles that meet certain regulatory standards and comply with technical specifications mandated by the permit. These hardware requirements may include specifications regarding vehicle size, weight, acceleration, speed, braking, lighting, control systems, and electrical safety standards, as well as any local regulations related to battery safety, charging, and safe handling. Additionally, micromobility operators must contemplate the end-of-life processing for both vehicles and batteries in accordance with federal, state and local regulations governing materials, recycling and second-use programs, and waste handling.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>In-Field Teams</u>: A reliable in-field team is critical to ensure vehicles are well-maintained, properly parked, and promptly removed from restricted areas or unsafe areas. We utilize employees, logistics providers and contingent workers to perform these functions. Adequate coverage enables us to meet service level agreements with cities and comply with regulatory requirements. Insufficient coverage can result in service disruptions, fines or even permit revocation,

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highlighting the importance of effective in-field support for compliance, operational reliability, and strong city relationships.

**Secular Trends Driving Growth in Shared Micromobility**

As urban congestion rises, cities face mobility challenges that require alternative transportation solutions. Shared micromobility meets these needs by providing flexible, efficient, and space-saving options for short-distance travel. Several distinct trends serve as tailwinds to growth in the shared micromobility industry:

***Evolving consumer priorities***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Saving Time</u>: Heavy congestion results in significant time and productivity loss for urban travelers, with drivers in major cities including New York City, Chicago, and London losing an average of over 100 hours annually in congestion during peak commute periods compared to off-peak conditions according to the 2024 INRIX Traffic Scorecard. Whether commuting for work, running errands or attending entertainment events, people are actively traveling throughout the week. Increasingly, individuals are opting for e-scooters and e-bikes to bypass congestion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Saving Money</u>: Rideshare and vehicle ownership costs have escalated. Rideshare fares routinely spike during peak times, forcing travelers to wait or to overspend. In addition, the total costs of vehicle ownership have risen for reasons including increased expenses in parking, insurance, fuel and maintenance. Shared micromobility offers transparent pricing and a cost-efficient, reliable alternative to rideshare and other modes of transportation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Experiential Travel</u>: Consumers desire transportation options that offer more than just utility. Traveling via lightweight vehicles blends practicality with fun, transforming everyday trips into active, engaging urban experiences. This shift is pronounced in tourism, where city visitors look to explore in immersive, flexible, and sustainable ways. Tourists and short-term city visitors increasingly prefer shared e-scooters and e-bikes for urban exploration, citing convenience and experiential benefits as primary motivators, according to a 2023 study conducted by the University of North Florida.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Demographic Preferences</u>: We believe the increase in shared micromobility adoption is driven in part by a demographic shift, with younger generations showing less interest in driving. This shift is evident in the decline of 18-year-olds with driver's licenses from more than 80% in 1983 to 60% in 2022, according to the U.S. Department of Transportation. Additionally, many individuals are consciously choosing to reduce their carbon footprint, further fueling the demand for sustainable transportation. With the rise of ridesharing options as a replacement for driving, we believe these trends are poised to expand the market for transportation alternatives and broaden the potential rider base for shared micromobility.

***Broad government support***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Accommodating Increasing Urbanization</u>: Urban living is on the rise, with 58% of the global population residing in urban areas in 2024, a figure that the United Nations projects to increase to 68% by 2050. This trend, coupled with overall global population growth, could result in another 2.5 billion people living in urban areas by 2050. As cities become denser, the infrastructure to support increased private car usage is strained. In major cities like New York City and London, cars occupy the most road space while transporting a smaller share of travelers. Dedicated micromobility infrastructure, such as protected bike lanes, can move more people within the same space at potentially higher average speeds, offering cities a cost-efficient and scalable urban travel solution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reducing Car Congestion</u>: Global initiatives are combating congestion through micromobility expansion and policy shifts. The European Union, along with national and regional partners,

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dedicated €4.5 billion (including €3.2 billion for cycling) to sustainable transport from 2021 through 2027, while in 2020 the United Kingdom pledged £2 billion for active travel over five years, with the goal to make half of urban trips walk- or cycle-based by 2030. Cities are redesigning streets with pedestrian zones, bike lanes, and shared micromobility parking, while penalizing car usage through taxes, increased tolls, and limited parking. To encourage sustainable transportation and reduce air pollution, cities, including Oslo, Amsterdam, and London, are implementing or piloting low and no emission zones and pedestrianized areas, which are open to cyclists and scooter users. New York City recently joined London and Milan in adopting congestion pricing, with other major U.S. cities reportedly exploring similar initiatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reducing Carbon Emissions</u>: Many cities are committed to reducing carbon emissions and improving residents' quality of life. One in five cities aims to make cycling a preferred transit mode according to an analysis of applications submitted for the Bloomberg Initiative for Cycling Infrastructure, with over 700 cities across 53 countries pledging to halve carbon emissions by 2030 according to Oliver Wyman Forum. Shared electric micromobility vehicles produce around 60-70% less lifecycle grams of carbon dioxide emissions per passenger-kilometer than a typical EU fossil fuel car according to a report by the International Transport Forum.

**Our Market Opportunity**

We have a substantial opportunity in the evolving micromobility market. We view our opportunity in terms of our SAM, which we believe we can address today, and our TAM, which we believe we can address over the long term.

***Our Opportunity Today***

We estimate our SAM to be approximately $6.1 billion. We calculate this opportunity on the basis of two key inputs: the potential fleet in the cities where Lime currently operates and the estimated maximum RVD for each of those cities. To arrive at our SAM, we multiply these two inputs together and then by 365 days per year for each city.

Our SAM of $6.1 billion reflects current micromobility adoption of approximately 15% of addressable riders within our existing cities. For the purposes of sizing our market opportunity, our addressable population includes individuals ages 18-45 years old with a household income of over $55,000 per year, which we believe to be a conservative estimate of our potential population. In many of our more mature markets, the industry has reached adoption levels in the range of 30-40% among the addressable population. We believe there is potential to reach these levels of adoption across our existing cities, which would imply a SAM opportunity of approximately $12.0 billion at 30% adoption among our addressable population.

To estimate the potential fleet for each city, we estimate the addressable MAUs within a city and multiply by a fleet-to-MAU ratio for that city, which reflects our estimate of the number of vehicles needed to serve each MAU.

<u>Addressable MAUs</u>: We use MAAU data from Sensor Tower for each of the countries we operate in to estimate our market share within individual cities. We believe country-level market shares are indicative of our city-level market share and the best approximation available to us. We then take our average MAU in a city for 2025 and divide by our market share percentage to estimate the number of MAUs that are currently serviceable in the city.

<u>Fleet-to-MAU Ratio</u>: To determine appropriate fleet-to-MAU ratios for each city, we group each city into one of our four market categories (Megacity, Tourist Destination, Regional Hub, or Satellite Market). We apply the average fleet-to-MAU ratio to each city assigned to that market category. We believe the average for the category provides a more accurate representation of the potential we observe for fleet density in each city. The fleet-to-MAU ratio is calculated as the average daily operational fleet across all cities in the category divided by the MAUs for the same group in 2025.

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To calculate maximum RVD, we first group each of the cities into one of 12 different clusters based on the combination of two factors: (i) region (North America, Europe, and the rest of the world) and (ii) market categories (Megacity, Tourist Destination, Regional Hub, or Satellite Market). Maximum RVD is calculated by taking the average RVD of the top 10% of cities within each cluster and applying the ratio of this top decile average to the overall average RVD within the entire cluster, over the same period. Because we believe that the top decile of cities within a given cluster represents the potential utilization that could be reached as our market share grows within a city, this ratio estimates the progression of monetization within each city that we believe is achievable as we scale. We multiply this ratio for each city within the category to determine that city's maximum RVD.

***Our Opportunity Over the Long Term***

To arrive at our TAM from our SAM, we expand the aperture of cities to include those we have identified as expansion opportunities within the next five years. At an adoption rate of 30% of people in our addressable population within this expanded set of cities, our market opportunity would be $22.0 billion. If we further assume full adoption by people in our addressable population within each city, we estimate our TAM to be approximately $69.1 billion.

In each adoption rate scenario, we multiply the broader number of potential riders by the appropriate fleet-to-MAU ratios expected to be required to service that number of riders as per our SAM calculation. For new cities, we apply the relevant market category's average fleet-to-MAU ratio to estimate the fleet potential of each new city. This total fleet potential is then multiplied by the estimated maximum potential net RVD for those cities as estimated in our SAM calculation, and then summed to estimate our total global TAM.

**Lime's Vertically Integrated Platform**

Lime's platform combines proprietary hardware and software, data, tech-enabled operations, and government relations expertise. We specifically design each component of our platform to meet the needs of both our riders, who expect an easy, reliable, and convenient experience, and the cities that regulate market entry and expansion. Our platform allows us to control key aspects of our service that shape rider experience and drive operational efficiency and regulatory compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Proprietary Hardware</u>: At the core of our platform is our electric vehicle fleet, which includes proprietary e-scooters, e-bikes, and seated e-scooters, all available through our proprietary Rider App, enabling a free-floating model that offers flexible mobility options for riders and cities. We design and engineer our vehicles in-house to elevate the rider experience, support city compliance, enhance safety, and reduce our lifetime cost of ownership. For example, we have introduced innovations to elevate the rider experience, including lower scooter deck heights for improved stability, ergonomic swept handlebars for confident handling, carefully tuned acceleration for smooth starts, and a triple-braking system for safe, controlled stops. We have also strategically customized and redesigned components of our fleet for durability and maintainability, reducing breakage rates for high-wear parts and overall repair times, and in turn lowering our total cost of owning and operating our fleet.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Software</u>: Our proprietary technology stack consists of three interconnected systems: the Rider App, the Lime Supply App, and an IoT-enabled hardware system that connects our fleet to both the Rider App and the Lime Supply App to track in-field vehicle health and telemetry. The Rider App facilitates the trip experience for riders — from locating and reserving vehicles to payment processing — which maintained exceptional user satisfaction evidenced by a 4.9 out of 5.0 rating on the iOS App Store across approximately 2.2 million reviews as of April 1, 2026. Lime's operations workforce uses the Lime Supply App, a separate operations-facing app, to manage and maintain our fleet. Within this software, predictive analytics prioritize vehicles tasks that we believe will drive the most value, such as repositioning vehicles from one location to another, charging, or maintenance while using machine learning forecasts demand patterns to help

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optimize fleet placement, designed to increase vehicle availability to maximize trip conversion rates. Our IoT system continuously monitors vehicle locations around the world, vehicle health, and operational metrics through embedded sensors. This IoT system processes real-time telemetry into structured datasets, enabling proactive maintenance and data-driven improvements across our hardware and software.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Data</u>: Data acquisition and analysis is a key pillar of our platform. We use data from our Rider App along with vehicle telemetry data to support vehicle demand forecasting and optimize hardware designs. We augment these proprietary data sources with supplementary datasets from weather services, city partners, and other external providers to generate a more holistic picture of local mobility.

Data is also a strategic asset for our operations workforce enabling us to optimize efficiency and responsiveness. For example, we use explicit and inferred signals from our fleet to understand when a vehicle will require maintenance and to proactively schedule those maintenance tasks, which in turn enable us to significantly increase the number of vehicles available on the street. Our vehicle deployment and positioning algorithms run on machine learning that ingests data from past rides, real time event information, weather, and a host of other factors to inform the deployment of our fleet based on where and when we expect riders will need it. We also use data to create operational tasks dynamically, identifying the cost of an operational task and the downstream revenue that we expect that task could generate. This enables us to prioritize the tasks that we believe will have the highest return on investment and make optimal use of our operations workforce. In addition, some cities have begun to include data sharing from operators, in accordance with applicable laws and policies, as an operational requirement under the permit, which we believe indicates that cities are beginning to recognize the value of the data that we provide to cities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Tech-Enabled Operations</u>: Our global operations are supported by employees, logistics providers, and contingent workers, all of whom leverage technology and data to drive efficiency and enhance the rider experience. Maintenance, deployment, charging, repositioning, and retrieval of our fleet are carried out through these combined resources. Operational activities are coordinated by the Lime Supply App, which applies data and algorithms to generate and prioritize tasks that we believe optimizes for return on investment, delivering the highest quality trip at the lowest possible cost while furthering compliance with city requirements. Data-driven task allocation, automation, and predictive analytics are embedded into workflows, reinforcing a continuous feedback loop for in-field executions informing ongoing improvements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Government Relations Expertise</u>: Our dedicated government relations and local customer service teams collaborate closely with cities, combining our operational expertise with deep local knowledge and in-depth discussions with key city officials to secure permits and deliver actionable insights informed by our extensive anonymized dataset. We believe our understanding of and ability to address the unique needs of each city has been instrumental to obtaining and retain permits. This local expertise, combined with bespoke operational capabilities, enables us to provide cities with a tailored shared micromobility program that advances their local policy priorities while also addressing rider needs. We share valuable data to help cities understand the impact of shared micromobility, including insights like high-density micromobility parking locations to guide infrastructure investment and anonymized rider data to inform bike lane planning. We believe this collaborative approach has positioned Lime to become a trusted partner for shared micromobility, fueling our strong competitive bid performance and enabling us to influence the future of shared micromobility policy.

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**Providing an Exceptional Rider Experience**

We offer our riders exceptional value by delivering a reliable, easy, and convenient experience. Our commitment to improving short-distance travel and expanding availability helped foster a broad base of loyal riders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reliability</u>: We are focused on providing a reliable and convenient transportation solution for our riders, with dependable access to well-maintained vehicles. We strategically deploy and reposition our extensive fleet throughout cities using historical, predictive and real-time demand data, optimizing vehicle distribution for riders' convenience and availability. The scale of our fleet, supported by our tech-enabled operations that provide rigorous maintenance, optimized charging, and efficient repositioning, helps keep our vehicles durable and trip-ready for our riders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Ease of Use</u>: We are focused on providing a fast and intuitive journey, from vehicle location to trip completion, for our riders. Our free-floating model enables riders to bypass many of the constraints associated with docked systems, which restrict trips to fixed stations that may not be conveniently located due to limited density or capacity. In contrast, our fleet is both flexible and scalable, while still accommodating cities that may mandate parking in designated areas. Whereas the installation of docked stations can take months, we can deploy virtual parking areas within minutes, preserving the flexibility and ease-of-use that we believe are essential for driving rider adoption. Riders can start a trip in seconds by scanning a QR code on nearby vehicles through the Rider App or Uber app on their phones. To end a trip, riders simply park, press the "End Trip" button in the Rider App, take a photo of the parked vehicle, and payment is processed automatically.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Comfort</u>: Our vehicle design prioritizes rider comfort. Our latest models feature tuned acceleration curves designed to keep rides smooth for enhanced balance and reduced strain, ergonomic handlebars designed to reduce fatigue especially for longer rides, and well-designed, intuitive controls. Our latest e-scooters come with a wide, textured platform to allow side-by-side or staggered foot positioning depending on rider preference and our e-bikes have adjustable seats and large front baskets for stowing cargo. We have also launched seated e-scooters and throttle-equipped e-bikes to make it easier for people of different abilities to ride Lime.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Trust</u>: Riders trust Lime as a safe and dependable choice for daily travel. Our customer service team is dedicated to fostering this trust by enhancing rider satisfaction and retention. We also prioritize safety in vehicle design, while our Rider App helps bolster rider confidence through riding tutorials and city-specific regulations or safety guidelines. By focusing on these elements, we help our riders feel secure and valued, further solidifying Lime's role as a reliable partner in their journeys.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Fun</u>: Lime offers riders a joyful way to explore neighborhoods and cities. Our riders cite Lime for its fun and memorable experience. Our strong brand awareness and social media presence — particularly social media posts by public figures or celebrities — further broaden our appeal to riders. Our Group Ride feature which allows a single rider to unlock multiple vehicles serves as a low-barrier way for our enthusiastic riders to share this joy with their friends in a welcoming social setting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Affordability</u>: We are focused on providing good value to our riders through various pricing plans that specifically fit riders' travel needs, be it daily commutes or exploring new cities on vacation. People seek out shared micromobility solutions as they can cost significantly less than short car trips. We also offer LimePass, which consists of prepaid minute bundles and a subscription option ("LimePrime"), designed to deliver optimal value for various rider use cases.

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**Lime's Value Proposition to Cities**

We believe that our success is intrinsically linked to the success of the cities we serve. We strive to be a trusted partner, providing solutions that seek to address the core priorities of our city partners, including reducing congestion, expanding affordable transit access, and lowering emissions. Through collaboration with cities, we tailor our platform to complement public infrastructure, including filling transit gaps and supporting local climate action plans. This partnership model is designed to enable shared micromobility to deliver measurable results for cities, such as fewer cars on roads, cleaner air, and more robust transportation networks that serve evolving community needs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Expanded Transportation Access and Efficiency:</u> Public transit systems are restricted by their physical infrastructure and typically limited to high frequency locations. We are focused on expanding access to transportation by providing first- and last-mile connectivity and filling gaps where city services may not exist or operate with limited availability during off-peak hours. Additionally, during special events with high traveler demand or during service disruptions, we can adjust the deployment of our fleet to address changing transportation needs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Multimodal Fleet Reaching More Riders:</u> We provide cities with a 'one-stop shop' fleet of electric vehicles that can address a variety of urban transportation challenges. For example, e-scooters are often ideal for quick trips, whereas e-bikes with baskets are comfortable for longer journeys or running errands. Across many use cases, our vehicles are designed with the rider in mind. For example, we have designed bikes with smaller frames and lower step-throughs to be more comfortable for our female riders and we have added optional thumb throttles to our e-bikes to expand availability, particularly for older riders who may find pedaling a challenge. This menu of multimodal fleet enables cities to provide tailored transportation systems that meet the needs of their residents.

Cities are increasingly seeking operators that can provide a comprehensive service, with the number of our multimodal requests for proposal ("RFPs") — encompassing e-scooters, e-bikes, and other shared vehicles — growing by 278% since 2021.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reduced Congestion:</u> Our shared micromobility fleet enables cities to ease the strain on overburdened city roads, from daily rush hours to major events like concerts and sporting events. Our fleet can alleviate car-dominated gridlock, free up street space typically lost to car parking, and act as a pressure relief valve for public transportation systems. After Paris introduced a bike sharing system and other traffic reducing techniques in the 2000s, car traffic decreased by 20% within a couple of years, reflecting the impact of shared micromobility on congestion according to the World Wide Fund for Nature. By analyzing traffic patterns and event schedules, for example, we can forecast demand spikes and pre-position our fleet when and where we believe vehicles will be most needed to help facilitate seamless mobility and reduce reliance on personal vehicles or rideshare.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Progress Towards Sustainability Goals:</u> Transportation accounted for approximately 30% of global greenhouse gas emissions in the United States and Europe in 2022 according to the Inventory of U.S. Greenhouse Gas Emissions and Sinks 1990–2022 and the European Environment Agency, respectively, with private cars being the top contributor. Lime's shared micromobility vehicles offer a sustainable alternative, producing zero tailpipe emissions compared to about 400g of carbon dioxide per mile for the average car according to the Environmental Protection Agency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Compliant and Well-Organized Operations:</u> Permits are almost always required for us to operate in a city and typically contain a number of regulatory and operational requirements, including fleet size, deployment areas, parking restrictions, and operational metrics, which often must be reported on a monthly basis. We design our hardware, location accuracy technology, and operational strategy to comply with local city requirements. For example, our advanced

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geofencing technology and real-time monitoring systems are designed to promote the operation of our vehicles within designated areas, minimizing disruptions in the public way and preserving public safety. We have local customer service teams with a dedicated email alias that can quickly address questions or concerns from city officials and, for more urgent matters, provide direct access to a local experienced operations manager. Our sustained presence is reflected in the trust we've earned with cities we serve, as demonstrated by the fact that 94% of our revenue from 2025 was generated from cities where we have operated for four years or more.

**Lime's Competitive Advantages**

The combination of our vertically integrated platform, scale, market leadership, brand awareness, efficient operating model, and network partnerships all work together to create competitive advantages for our business. Together, they have contributed to our position as a leader in the shared micromobility industry and positioned us for growth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Vertically Integrated Platform</u>: Lime's platform is designed to optimize the rider experience. Our platform seamlessly integrates government relations expertise that helps win us the right to serve a city with hardware, software, and data that drive topline growth and margin through an understanding of rider preferences and optimized vehicle availability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The result is a virtuous cycle where each component enhances the whole, creating operational advantages that strengthen progressively with scale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ **Proprietary Hardware**: We design and engineer our hardware in-house to optimize rider appeal while reducing the total cost of ownership of our fleet. With each generation of our electric vehicles, we seek to improve durability, repairability, and cost-efficiency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ **Software**: Our proprietary technology stack enables us to optimize the rider experience and our in-field operations. Our rider-facing software, the Rider App, is designed to make riding our e-scooters and e-bikes seamless — riders can conveniently locate vehicles and pay for trips, supporting new rider adoption through easy onboarding and encouraging repeat use. Our operations-facing software, the Lime Supply App, coordinates our operations workforce and is designed to optimize their tasks to improve margin, lower maintenance costs, and increase vehicle quality and reliability for riders, which in turn contributes to more rider adoption and usage. Our IoT-enabled hardware system links our in-field vehicles to our operations software and serves two functions — empowering riders with low-latency remote control of our vehicles from their phone to lock, unlock, and pause rides, and enhancing our operations by transmitting real-time vehicle telemetry and diagnostic data that enable us to continuously monitor vehicle health, detect issues, and track assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ **Data**: Lime's extensive anonymized dataset offers key insights into rider behavior, vehicle performance, and city dynamics. This data drives our proprietary operations software, optimizing our fleet deployment and informing hardware design. This data also supports our regulatory compliance program by enabling adaptive software controls for responsible operation. For example, we use historical data of any missed demand and fulfilled demand in a given city or use data to automate relocation tasks for overcrowded parked fleet to more effectively guide the positioning of our vehicles. As a consequence of improved positioning, we enable more rides to take place and use data to advocate for greater parking allowances in high-demand areas, reinforcing a positive feedback loop where we benefit from even more interactions that we can measure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ **Tech-Enabled Operations**: Lime's operations combine data-driven coordination with localized execution. Maintenance activities performed in warehouse settings support consistent vehicle quality, directly contributing to reliability and regulatory compliance. In-field resources perform deployment, retrieval, repositioning, and basic repairs, enabling rapid response to shifting demand patterns and environmental conditions. Operational activities are

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coordinated through the Lime Supply App, which uses data and analytics to generate tasks that we believe improve fleet availability, service quality, and compliance with city requirements. By combining data-driven task generation with local knowledge, we aim to deliver reliable, efficient, and compliant service at scale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ **Government Relations Expertise**: We have extensive policy understanding and government relations experience, which we have gained from operating across approximately 230 cities around the globe in 2025. This creates a distinct advantage for our business, enabling us to better understand city-specific needs and engage city officials effectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Scale and Market Leadership</u>: Lime's scale provides numerous benefits. Riders tend to gravitate to micromobility operators with the most city-wide vehicle availability, enabling Lime to become a preferred choice for shared micromobility in numerous cities where we operate. In turn, in connection with the permit bidding process, cities tend award permits to operators that have demonstrated high ridership, global scale, and operational and local policy expertise. Our extensive fleet in cities create high task density — which is the number of maintenance, charging, repositioning tasks available within a city — enabling our operations teams to complete more tasks per route, lowering the cost per task, increasing time efficiency, and improving unit economics. On average, from 2023 to 2025, we completed more than 25 million operational tasks per year, the scale of which has been a key driver in improving our margins.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Brand Awareness</u>: Scale expands our visibility and availability, which has supported our brand awareness with the public, positioning Lime as a go-to-choice for shared micromobility while reducing the amount spent on customer acquisition costs. Our branded vehicles serve as mobile advertisements, giving us constant street-level visibility that helps reinforce this brand recognition and drive more adoption. In 2025, we spent approximately 2% of our revenue on marketing expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Efficient Operating Model</u>: Lime's scale also enables a highly-efficient operating model, which optimizes resource allocation and reduces the cost to serve our riders. Our model also allows us to adjust operational costs to match rider demand, reducing fixed costs and allowing us to adapt to changing market conditions, including seasons. Our technology allows prioritization of tasks with the greatest return on investment and vehicle positioning to increase rider convenience, while scale brings density that reduces the cost of in-field operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Network Partnerships</u>: We benefit from a mutually exclusive partnership with Uber that allows Lime vehicles to be featured as a ride option within the Uber app in nearly all of our shared markets, providing us with direct access to Uber's global user base. This integration acts as a highly efficient rider acquisition channel. By leveraging Uber's existing infrastructure and rider network, we tap into an existing rider base that drives awareness without additional marketing costs. In many cities, Lime vehicle availability is integrated directly into Google Maps in certain cities through our partnership with Google, which enables consumers to discover Lime when getting directions.

**Lime's Platform Creates And Supports a Durable Network Effect**

Our platform fuels network effects that drive growth and efficiency. As we increase the number of vehicles in a city, the volume of trip and telemetry data we capture also increases, which in turn enables our platform to become more intelligent with respect to missed and fulfilled demand patterns, rider routes, vehicle operations and maintenance requirements, and more. This data enables better forecasting of demand location and timing. We then strategically deploy vehicles to these high-demand areas at optimal times to improve vehicle availability and utilization. Combining fleet expansion with data-driven placement further increases vehicle utilization, driving better unit economics. This generates the capital we need to further invest in fleet expansion and research and development, as well as the performance data cities rely on to approve larger fleet caps and launch new programs. The outputs of these network effects are

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sustained growth, increased scale, and highly differentiated unit economics that provide a significant competitive advantage across cities.

![business1c.jpg](business1c.jpg)

We believe that shared micromobility is fundamentally a "winner-takes-most" industry. Much like for food delivery or ride-sharing industries, network effects amplify success in the shared micromobility industry. Just as diners prefer platforms with the most restaurant options and riders choose services with the most drivers, users tend to gravitate toward micromobility operators offering the largest, most available fleet of e-scooters and e-bikes in a city. This creates a powerful self-reinforcing cycle: a more available fleet increases density, leading to high volume of trip and telemetry data, which allows us to deliver a more reliable service. This ultimately drives utilization and attracts more riders, making the service even more valuable and appealing. Operators with an extensive fleet and robust operational networks tend to hold an important place in the market.

**Growth Strategies**

We believe Lime has significant room to grow our share and expand the shared micromobility market. We are focused on growing our presence in the cities we currently serve, as well as expanding to new cities. We intend to continue to innovate, launching new products and services within shared micromobility, expand our commercial partnerships, and increase rider adoption and vehicle utilization, each of which we expect will strengthen our position as a leading shared micromobility partner for cities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Deepen Presence in Existing Cities</u>: We aim to grow the size of our existing fleet, which already operates in approximately 230 cities, by leveraging our existing infrastructure to enhance our vehicle reliability and availability in a cost-efficient way. Higher vehicle density promotes rider confidence in their ability to conveniently access e-scooters or e-bikes when needed while concurrently improving our unit economics. Our strong partnership and long-standing operating track record with cities enable us to grow our fleet caps under city permits, as demonstrated by our 116% operational fleet retention rate in 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reach New Cities and Countries</u>: We entered into 19 new cities in 2025 and intend to pursue opportunities to launch our fleet in more cities, with a focus on metropolitan areas we believe will have a high return on investment. Many cities around the world still lack shared micromobility as a transportation option, and several secular trends support our expectation for continued adoption. As we enter new cities, our partnership with Uber enables us to immediately leverage their user base in such cities, and we plan to seek other partnership opportunities to continue scaling efficiently. We also benefit from a strong local reputation, as cities regularly share insights and best practices with one another, driving momentum and credibility that open doors to neighboring cities. Expanding into neighboring cities to those in which we operate enables us to

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leverage a fixed cost center in the centralized location of an existing city to service multiple smaller adjacent cities, which also drives improvements to our operating margins.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Increase Engagement of Existing Riders</u>: We believe that one of our greatest opportunities is increasing engagement and securing additional trips from our existing riders. In the past, we have increased engagement by introducing prepaid bundles and subscription programs like LimePass and LimePrime, respectively, to cater to riders who could more frequently use Lime vehicles. These programs are designed to incentivize our riders to take more trips and convert casual riders into routine riders. As we continue to refine our insights into rider behavior and preferences, we aim to further tailor our services to better serve our existing riders and drive increased usage. Building on the success of LimePass and LimePrime, we plan to pilot other pricing plans designed to enhance our service offerings, capture a wider range of use cases, and more effectively address the evolving needs of our riders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Launch New and Improved Products and Services</u>: Innovation is at the core of how Lime operates, and we have a dedicated research and development team that iterates on vehicle design and features to continuously improve our existing fleet. This team also evaluates new modes of transportation for future launch. With each new generation of vehicles, we have enhanced our modular design to unlock additional use cases. For example, by adding cargo space to e-scooters and e-bikes, riders can now use Lime to run additional errands like grocery shopping and otherwise transporting small items. In 2024, we piloted LimeGlider for riders who may prefer the comfort of a seated vehicle combined with the effortlessness of an e-scooter. Our research and development team is continuing to pilot new vehicles and features to support new use cases like tandem riding and longer-distance travel, which we believe will drive more rider adoption and increase engagement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Expand Partnerships</u>: We continue to evaluate strategic commercial partnerships to expand our market reach and broaden our rider base. As part of this initiative, we are piloting programs to support corporate campuses and exploring potential programs with higher education campuses. In addition, we are exploring potential partnerships with food delivery services to offer tailored access to our fleet through daily or weekly passes for couriers. In parallel, we will continue to collaborate with cities to maintain public-private partnerships, further fostering adoption of shared micromobility in new cities and countries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Strategic Acquisitions</u>: We employ a disciplined approach to potential acquisitions, carefully evaluating opportunities that could strengthen our platform, increase the diversity of our vehicle platforms, and extend Lime's reach into new cities. Past acquisitions have expanded our scale, driven innovation, and increased our market presence. For example, our acquisition of Jump in 2020 enabled us to re-enter the e-bike market with a superior vehicle. We will continue to explore potential target companies that can either reinforce our core operational capabilities or open new avenues that accelerate the adoption of shared micromobility. These may involve technological enhancements, local or regional expertise, or strong government relations to solidify or advance our presence in key cities or regions.

**Riders**

Since our inception, Lime has facilitated more than 1 billion trips for more than 105 million riders. We serve a diverse and growing rider base that relies on Lime for their mobility needs.

In most cities, our vehicles are available to anyone aged 18 and above, with the majority of riders between the ages of 18 and 45. Our riders typically fall into one of two groups:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Routine</u>: We serve routine riders who integrate our vehicles into their lives. A routine rider spends at least $50 annually on Lime trips, though many spend much more per year. Lime often becomes an integral part of their urban travel routines, providing seamless connectivity within a city. Typically, routine riders use our vehicles for short distance trips (under five miles), including

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for commuting to work or school and local travel for errands, pharmacy visits or personal appointments and as a first- and last-mile complement to public transportation. We offer a convenient and flexible transportation solution to enhance mobility within city neighborhoods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Casual</u>: We also serve casual riders who may choose Lime for an engaging and interactive way to explore and enjoy a city. Visiting tourists might use our vehicles to travel between various attractions while local residents might use them to get to special events, such as concerts, festivals, or sporting events. Although casual riders typically spend less than $50 annually on Lime trips, they frequently become integral to our rider base. For example, based on internal estimates, as of December 2025, over 15% of our routine riders initially experienced Lime as a casual rider during their travels and later incorporated it into their routines back home. This dynamic not only broadens our reach but also cultivates a diverse and vibrant rider community.

Our platform offers riders with a broad set of use cases beyond traditional commuting and tourism, including local commerce, errands, date nights, and attending events, which drives adoption among both casual and routine riders. When cities expect demand spikes to existing transportation infrastructure, we collaborate with cities to quickly help scale their infrastructure and expand our fleet capacity. For instance, in anticipation of heightened demand during the 2024 Olympic Games in Paris, we strategically increased our e-bike fleet in the city by 50%, temporarily bringing our total available e-bikes to roughly 15,000. This expansion helped meet the mobility needs for both attendees and residents alike, highlighting the flexibility of our operating model and our ability to integrate seamlessly into urban life. By adapting to the evolving needs of our riders, we seek to transform transportation into an enjoyable part of their day.

**Cities**

While shared micromobility is naturally suited for dense megacities, Lime has demonstrated success across cities of all sizes. As of December 31, 2025, we operated in approximately 230 cities across 29 countries, from compact regional towns to sprawling global capitals. Our unit economics succeed in a range of city sizes through strategies that tailor pricing, fleet placement, and rider incentives to the specific transportation needs of each city.

Our approach adapts to core rider motivations — compare the Gold Coast, a destination where tourism drives demand, to Milan, a regional hub where routine riders dominate usage. In cities like the Gold Coast, we concentrate our vehicles near landmarks, offering premium convenience and new rider oriented, pay-as-you-go discovery pricing that appeals to visitors exploring the city. This contrasts sharply with Milan, where we optimize for daily utility — through overnight repositioning, we strive to position our

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vehicles within a 5-minute walk of certain transit hubs by 7 a.m. on work days, and offer LimePass, a prepaid minute bundle program, for predictable and affordable workweek travel.

![business2b.jpg](business2b.jpg)

We categorize our cities into four city archetypes — Megacities, Tourist Destinations, Regional Hubs, and Satellite Markets — based on two primary metrics: annual spend on tourism, which we use as an indication for visitor demand, and local addressable population size, which we define as people between ages of 18 and 45 with incomes above $55,000 per year, which we use as an indication for rider engagement potential.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Megacities</u>: Megacities are both economic hubs and tourist destinations with large local populations. They have an addressable local population above 500,000 people and have over $5 billion in annual tourism spend. Megacities include global capitals and economic centers such as London, Seattle, Tokyo, Paris, Washington D.C., Chicago, Sydney, and Berlin. These cities typically have mature public transit systems and exhibit high demand for short-distance transportation. As of December 31, 2025, we operated in 39 Megacities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Tourist Destinations</u>: Tourist Destinations have addressable local populations below 500,000 people and have over $5 billion in annual tourism spend. These cities are smaller than Megacities but have a high volume of tourist activity, such as Auckland, the Gold Coast, and St. Petersburg, Florida. For Tourist Destinations, we optimize vehicle deployment near landmarks, hotels, and popular restaurants. As of December 31, 2025, we operated in 20 Tourist Destinations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Regional Hubs</u>: Regional Hubs are cities with addressable local populations over 500,000 people and have less than $5 billion in annual tourism spend. These cities have an attractive local population and a relatively low tourist presence. For Regional Hubs, our deployment strategy focuses on connecting residential areas with key city locations, enabling residents to commute to and from and travel within the city. Examples of Regional Hubs include Detroit, Milan, Munich, and Vienna. As of December 31, 2025, we operated in 19 Regional Hubs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Satellite Markets</u>: Satellite Markets are cities with addressable local populations under 500,000 people and have less than $5 billion in annual tourism spend. Often regional economic centers or university towns, these cities exhibit strong shared micromobility demand within compact areas. Despite their smaller size, Satellite Markets are typically near one another and benefit from operational efficiencies by leveraging resources and fleet management from more centrally located cities. Examples of Satellite Markets include Milton Keynes, operated out of our

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London hub, and Verona, operated out of our Milan hub. As of December 31, 2025, we operated in 151 Satellite Markets.

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**Our Suite of Vehicles**

Lime develops and contract-manufactures a range of electric vehicles designed for shared urban transportation. We take a holistic approach to research and development, optimizing for quality, cost, and efficiency. We leverage data collected from hundreds of thousands of active vehicles in the field, hundreds of millions of rides, and our operations in approximately 230 cities worldwide to engineer vehicles that are designed to provide exceptional rider experiences, drive operational efficiency, and maximize our return on investment.

These design principles enable us to attract and retain riders, deliver high fleet availability, and reduce our total cost of ownership.

**Available and Convenient Vehicles for all Riders**

Lime aims to deliver convenient, reliable, and comfortable rides for as many different riders and use cases as possible. We start by offering the right vehicle for the right trip. Our e-scooters offer riders a fast and agile option for short trips in dense urban centers, while our e-bikes are comfortable and convenient for longer distances across varied terrain. On average for 2025, trips taken on our Gen4 e-bikes were 40% longer than our trips taken on our Gen4 e-scooters.

Our current fleet largely consists of our Gen4 vehicles, which launched in 2021 for e-scooters, 2022 for e-bikes, and 2024 for seated e-scooters. As of December 31, 2025, more than 705 million rides have been taken on Gen4 vehicles, and Gen4 e-scooters comprise the majority of our fleet globally while our Gen4 e-bikes have helped revolutionized urban travel in some of our largest markets like London and Paris.

All our vehicles are designed for safety and connectivity. Each vehicle has a high-visibility paint scheme, reflective surfaces, a redundant braking system, and auto-diagnostics based on dozens of data points collected by IoT-enabled, vehicle-mounted sensors. "Smart" features on our vehicles can include an integrated GPS and central control unit, a large display showing speed and state of charge, and a communications module that connects the vehicle to the backend platform.

***Gen4 E-Scooter***

<u>Base Model</u>

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|:---|:---|
| Lime deploys our award-winning Gen4 e-scooters every day in cities around the world, and as of October 2025, these e-scooters have been taken on more than 400 million rides. Designed for comfort and stability, the Gen4 e-scooter features a wide, textured footboard that allows riders to position their feet side-by-side or staggered, swept handlebars for a more natural riding position, and intuitive bike-style hand brakes with anti-slip grips. A large front wheel, fully pneumatic tires, and a dual-spring front suspension enable smooth handling on varied terrain, while a low center of gravity promotes rider stability. The e-scooter also comes equipped with a phone holder so riders can use navigation apps hands-free.  | ![business3a.jpg](business3a.jpg) |

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<u>Seated Model</u>

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|:---|:---|
| The Gen4 seated e-scooter has the same features as the base model, but comes with a padded seat and rear storage compartment. The seated e-scooter enables us to address previously unreached rider demographics by appealing to older or less confident riders who may seek a more comfortable and intuitive riding experience, and helps Lime unlock and expand into new cities that may desire certain vehicles. For example, interest in the seated e-scooters helped enable Lime's launch in Japan in 2024. Standard Gen4 e-scooters can be easily converted to a seated model in-warehouse with an inexpensive retrofit kit. | ![business4a.jpg](business4a.jpg) |

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***Gen4 E-Bike***

<u>Base Model</u>

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| | |
|:---|:---|
| Suitable to accommodate a wide range of heights of riders, the Gen4 e-bike features a low step-through frame, comfortable Dutch-style handlebars, an adjustable seat, and fully pneumatic tires on spoked wheels for stability and comfort on varied terrain. It also comes equipped with a large front basket to stow cargo and a phone holder so riders can use their phone for hands-free navigation. | ![business5a.jpg](business5a.jpg) |

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**Driving Operational Efficiency through Vehicle Design**

We believe that operational efficiency starts with research and development. Lime's holistic approach to vehicle design considers not only how to develop high-quality vehicles, but how to facilitate efficient operation of those vehicles in the real world.

***Swappable Battery Technology***

We introduced swappable batteries in our vehicles in 2020, reducing maintenance trips needed to maintain vehicles that previously needed to be brought to a warehouse for battery recharging. For example, we were able to cut such miles traveled per maintenance trip in Paris by 87% from 2019 to 2025. Since then, we have continued to improve our swappable battery technology, which has been a key driver of operational efficiency, leading to the development of our latest high-capacity, interchangeable, and durable B40 series batteries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>High-Capacity</u>: The B40 series batteries doubled the range the vehicles can travel on a single charge, cutting downtime by 19% and delivering 119% more utilization from an average of 16 km travelled per battery swap to 35 km travelled per battery swap in 2021.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Interchangeable</u>: The B40 series batteries are interchangeable across all Lime vehicle types, simplifying battery swapping and eliminating the inefficiency of operating multiple battery types and charging equipment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Software-Enabled Efficiency</u>: The B40 series batteries have sophisticated embedded software which regulates charging/discharging, monitors the battery's state of charge, and balances battery cells.

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***Modular Design***

Our vehicles share a common, modular design designed to maximize parts commonality across models while still enabling targeted customization that may be required for certain cities or regions. Gen4 e-scooters and e-bikes share standardized, interchangeable components, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Energy systems: Battery packs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Control units: Central control unit, certain unified wiring harnesses

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Safety components: ISO-certified reflectors

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• User interfaces: Full-color displays, adaptive lighting arrays

This modular design philosophy delivers synergistic benefits. Shared components across models generate economies of scale, lowering ownership costs while reducing inventory complexity through unified parts management. Standardized designs allow technicians to master one repair procedure applicable to multiple vehicle types, simplifying training and accelerating service turnaround. Strategically positioned high-wear components further streamline maintenance by optimizing access paths — preserving structural integrity while minimizing downtime during repairs, intended to help our fleet sustain peak operational readiness.

Cross-platform engineering principles further enhance lifecycle management. Iterative refinements to modular designs are guided by real-world performance data, and improvements are designed to preserve compatibility between hardware generations. This approach delivers scalable, sustainable fleet operations through service-optimized innovation.

![business6b.jpg](business6b.jpg)

**Maximizing our Vehicle Investments**

Protecting our vehicles against excessive wear, theft, and vandalism is foundational to extending their useful life and driving strong returns on our capital investments. The benefits of our ongoing investments in durability and security are clear: In 2023, 2024, and 2025, our e-scooters and e-bikes averaged an ROI Payback Period of under one year, enabling us to continue to invest in growth — a milestone achieved in significant part through these targeted investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Durable Construction</u>: Our vehicles must be able to withstand the elements and the rigors of shared use to deliver a return on investment. Stress-tested in our CNAS/IEC 17025-certified lab, we design our vehicles and their parts and materials to meet a high standard of durability.

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Prioritizing strength and reliability has resulted in our mean trips between failure rate increasing by 123% from 2019 to 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Robust Anti-Theft and Vandalism Measures</u>: Vandalized or stolen vehicles increase operating costs and reduce fleet availability. In addition to tracking vehicles 24/7 with the GPS module embedded in the vehicle, Lime also aims to protect vehicles with intentional design choices such as enclosing critical components within the frame (such as brakes, wiring, central control unit), using anti-tamper security screws and seals, and designing purpose-built locks for vehicle wheels and batteries. These safety features also make the vehicles less attractive to potential unauthorized purchasers of stolen vehicles.

We also take a continuous improvement approach to both vehicle design and our operations to extend the useful life and performance of our fleet. This commitment is supported by a dedicated fleet engineering team that systematically enhances vehicle designs based on real-world operational data and rider feedback.

**Our Software Experience**

Software powers Lime's business model. Our proprietary software includes the rider-facing Rider App, our operations-facing Lime Supply App, and our IoT-enabled hardware system for vehicle intelligence, each interconnected through our communications infrastructure to our backend software systems. Combined, this platform enables riders to easily locate and access vehicles and enables our local operations teams to manage our fleet efficiently.

***Rider App***

The lightweight and intuitive Rider App makes it easy for riders to find a vehicle, reserve it, and start and end a ride. Our goal is to give riders a low-latency experience to help them quickly access our fleet as well as provide helpful information during key moments while on a trip, such as when parking.

<u>Getting Started</u>

Riders can quickly register for a new account, using either their preferred Single Sign On provider, their phone number, or their email. Riders can also access Lime through their existing accounts with one of our partners like Uber. Payment options are similarly flexible — riders register a credit or debit card,

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use a contactless payment service like Apple Pay, connect to an online payment system like PayPal, or use specialized local payment providers.

![business7a.jpg](business7a.jpg)

*Sign up and Payment*

<u>New Rider Orientation</u>

Before their first ride, new riders receive a vehicle-specific tutorial that familiarizes them with how the vehicle works, encourages safe riding behavior, and highlights certain city rules.

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*Tutorial for starting an e-scooter ride*

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<u>Locating a Vehicle</u>

Using the Rider App, riders navigate a simple map interface to locate a vehicle. Tapping a vehicle's icon shows its range, cost to ride, identification number, estimated distance in walking time, and provides an option to reserve the vehicle for a short period. Riders can then walk to the vehicle and scan its QR code to wirelessly unlock it and start a ride. Payment confirmation is required before the ride begins. If riders have trouble finding their vehicle, the vehicle's "ring" function can trigger an audible alert. If friends are traveling together but only one person has the Rider App, this 'host' can unlock up to five vehicles at once and manage the rider permissions for their 'guests' using the Group Ride feature.

![business9a.jpg](business9a.jpg)

*Ability to locate and reserve a vehicle*

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<u>During the Ride</u>

While on a trip, the Rider App displays relevant information to the rider, including parking locations, low speed zones, and no-go zones. In addition, riders see a trip timer and an option to end or pause the trip. Riders can pause a ride at any time for up to 15 minutes per pause.

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*App interface during the ride&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Example alert from compliance software*

<u>Ending the Ride</u>

Different cities, and sometimes even different neighborhoods within a single city, have their own parking rules. Most often, cities will require riders to park non-obstructively on the street or sidewalk or in a dedicated parking area only. When ending a trip, riders receive in-app guidance about local parking requirements and must submit a photo of their parked vehicle, which is analyzed by AI-enhanced algorithms to assess compliance. The Rider App is designed to verify compliance using both the photo and the vehicle's GPS location. If a problem is detected, riders may get feedback to correct their parking through the Rider App.

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Once the trip has ended, the vehicle locks automatically. Riders then receive a trip receipt and can rate their experience. A low rating triggers an optional feedback form to report specific issues or open a customer service ticket.

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*Ending a ride with parking check and ride review*

<u>User Profile</u>

Riders have access to their Lime "wallet" (showing their active passes and payment options) and ride history (with receipts) in their User Panel. They can also learn more about safety information in the Safety Center, and create a ticket for customer service in the Help Center.

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![business12a.jpg](business12a.jpg)

*Wallet and ride history*

***Lime Supply App***

The Lime Supply App serves as a dedicated tool for in-warehouse and in-field workflows. The app identifies and prioritizes tasks and generates data that is fed back into the platform for ongoing optimization. By streamlining task creations and embedding quality control steps, the Lime Supply App is designed to drive operational efficiency and maximize vehicle availability.

Operational activities supported through the app include battery swaps, vehicle deployment and retrieval, repositioning, in-field repairs, diagnostics, and warehouse-based maintenance. The Lime Supply App uses machine learning to optimize the creation and sequencing of these tasks to deliver strong return on investment. For example, our algorithms determine the optimal state of charge at which to swap a battery by incorporating future forecast demands, weather signals, and historical usage patterns. This allows us to optimize charging costs by reducing unnecessary charge expenses and helps us avoid missing rider demand by ensuring the battery is fully charged.

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Field and warehouse execution is carried out by employees, logistics providers, and contingent workers, who complete tasks through in-app workflows. Task metadata — such as completion rate and time to complete — is fed back into the platform to further refine performance.

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*Task view*

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*Task workflow and reporting*

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***Lime IoT System***

Delivering reliable rider experiences and efficient operations require Lime's vehicles to be network connected to our software backend. Every vehicle is equipped with an IoT-enabled hardware system consisting of an onboard computer, a GPS module, and mobile connectivity which provide precise vehicle geolocation and enforce parking and riding rules.

<u>Precise Vehicle Geolocation</u>

Real-time location data of our vehicles is critical to both the rider experience and fleet efficiency. Every Lime vehicle has an embedded GPS module, and we seek to continually improve both the hardware and embedded software to increase both stationary and on-trip location accuracy.

<u>Controlling Vehicle Performance</u>

All of our electric vehicles are controlled by a central control unit, which functions as the vehicle's on-board computer that runs our proprietary software and controls the motor, reacts to rider behavior, and processes data collected from embedded sensors. The central control unit also executes commands received from the Rider App or the Lime Supply App, such as unlocking the vehicle.

**Tech-Enabled Operations**

Lime's operations integrate employees, logistics providers, and contingent workers, all supported by data and technology designed to optimize efficiency, compliance, and service quality. Fleet activities such as deployment, retrieval, repositioning, charging, and maintenance are carried out across in-field and in-warehouse settings.

Operational activities are heavily guided by technology. The Lime Supply App applies data and algorithms to create and prioritize tasks that we believe will optimize return on investment and deliver the highest quality trip at the lowest possible cost and make optimal use of our workforce. The task management system in the Lime Supply App identifies the expected cost of an operational task and the downstream revenue we expect that task could generate to determine which tasks to prioritize. For example, our systems will automatically create high value tasks which involve signaling the need to reposition vehicles from one location to another within a city if our algorithms indicate that the downstream revenue from another location is higher, net of the costs to move the vehicle.

We apply data-driven dynamic task creation across a number of other tasks as well, including battery swapping and repairs. For example, our technology is designed to assess acceleration rates to understand which vehicles may have low tire pressure and to assess deceleration rates relative to brake handle position to identify and anticipate which vehicles may need brake adjustments. Certain repairs can be completed in the field, which improves vehicle quality and uptime. This helps lower our costs by avoiding a return-to-warehouse workflow and helps increase revenue by optimizing vehicle availability.

We recognize the importance of local execution in supporting day-to-day fleet management and maintenance. Lime seeks to reflect the communities we serve by engaging employees, logistics providers, and contingent workers locally across our markets. We also work with community organizations on initiatives that promote local engagement and broaden economic participation, reinforcing our commitment to being a trusted and collaborative partner in the cities where we operate.

**Sales and Marketing**

Lime sells to cities and markets to riders. Our sales efforts begin with cities, which generally must grant a permit to micromobility operators to launch their services in the public right of way. Once active in a city, our marketing and communications strategy ranges from leveraging the expanding visibility and availability of our vehicles as mobile advertisements for the Lime brand to community-building events and activations that provide brand-driven audience growth. We have expanded our reach through earned

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public relations, social media, and high-impact viral brand moments, all of which has fueled cultural momentum.

***Opening and growing markets***

Lime employs a consultative selling approach to establish, win, retain, and grow our micromobility operations. We couple our global experience, differentiated technology, and product offerings with deep knowledge of local priorities, policies, and politics to cultivate effective, long-term city partnerships that have propelled a competitive advantage.

<u>Market Entry and City Engagement</u>

Lime's local government relations team establish and nurture meaningful relationships with governments in the cities where Lime seeks to operate. We start by laying the groundwork for new market entry, working as a trusted third-party advisor to local governments as they shape shared micromobility program parameters. Shared micromobility is a nascent industry, and few cities know what regulations they need before establishing a successful shared micromobility program. We work with cities to adapt global best practices to their local needs.

<u>Securing Market Access through Competitive Bid Processes</u>

Most cities require micromobility operators to secure a permit before deploying vehicles into the public right of way. Lime excels at navigating the competitive bid processes for permits. Our pitch to cities combines an understanding of local policy priorities to craft a compelling proposal that highlights our proprietary hardware and software, extensive data, global operational experience, strong compliance track record, and stable financial profile.

<u>Retention and Renewal</u>

Lime has a strong track record of retaining permits in cities, quickly becoming a core shared micromobility partner once we enter a market. We leverage our strong compliance record, vehicle utilization, and superior hardware to win permit renewals and grow our fleet once we are active in a market, often beyond the permit's initial parameters.

<u>Fleet Growth and Market Share Expansion</u>

As trust builds between a city and a micromobility operator, there are often opportunities to grow fleet sizes during the course of the permit operating period. Initially, cities typically grant similar number of fleet caps to all permitted micromobility operators. Over time, fleet size increases are generally awarded based on performance, such as meeting utilization or compliance metrics set forth in the permit. Lime has a strong track record of securing these fleet increases by leveraging our proprietary advanced technology, operational efficiency, and a strong compliance record. In Seattle, for example, the first competitive permit to operate 500 e-scooters was awarded to Lime and two other operators in 2020. Five years later, Lime is permitted to operate 10,500 vehicles, while one other operator is permitted for 2,000.

Lime has been able to replicate this approach in other cities. In 2025, we recorded 48 instances of fleet cap increases that were exclusive to Lime resulting in an average increase to our fleet cap of 532 vehicles per city, helping to strengthen our competitive advantage and grow our market share.

We expect our ability to win permits in new cities and grow our fleet within existing cities, driven by performance and compliance, to be a key lever for Lime's future growth and market leadership.

***Rider marketing***

Once operational in a city, Lime's iconic vehicles serve as mobile advertisements, keeping Lime top of mind for new and existing riders as well as non-riding members of the public. We support and bolster

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our on-street presence in a city with strategic, earned public relations and rider-focused partnerships and activations to engage and retain riders.

<u>Organic Presence</u>

Lime enjoys significant brand visibility due to the scaled presence of our e-scooters and e-bikes in urban environments. This widespread exposure contributes to a high level of unaided brand awareness. As we grow our presence in cities, we participate in local events as well as host brand experiences to bring new riders into the funnel and engage our loyal riders. Lime's cultural presence leads to high-profile, unpaid endorsements and viral marketing opportunities. Celebrity sightings and mentions of Lime in pop culture are examples of no-cost activations that drive awareness and reinforce our brand's value and appeal. This combination of broad public awareness, our strong public relations strategy, and organic, unpaid viral marketing contributes to our low baseline marketing costs, which represented approximately 2% of revenue in 2025. The high visibility of Lime e-scooters and e-bikes encourages habitual usage of existing riders, reinforces brand awareness, and encourages observers to become active users through consistent visual reinforcement.

<u>Marketing</u>

Lime limits marketing spend by focusing on organic growth, public relations and high-impact, strategic partnerships. A key driver of user acquisition is word-of-mouth referrals and internal referral programs. This organic approach is highly cost-effective, leveraging existing rider satisfaction to attract new users. Our Group Ride program facilitates social riding experiences and introduces new users to the platform through existing riders. According to a survey we conducted, in 2024, 62% of our most valuable riders said their group ride companions have gone on to become Lime riders themselves. This, coupled with strategic partnership campaigns such as the 2025 "Liming to Love" partnership with Bumble, enable Lime to acquire riders with relatively low marketing expenditures. Once onboarded to the platform, Lime seeks to enhance retention of riders with offerings such as LimePass, which allow riders to purchase discounted ride minutes, offered at different increments, customized by city or a subscription plan.

<u>Uber Partnership</u>

Through Lime's mutually exclusive partnership with Uber, Lime vehicles are featured as a ride option within the Uber app in nearly all of our shared markets. This integration acts as a high-efficiency rider acquisition channel. By leveraging Uber's existing infrastructure and user network, we tap into an existing rider base that drives awareness without additional marketing costs. Lime is also the sole transportation provider on Uber's premium subscription platform, Uber One, opening our service to Uber's most loyal user base. By positioning Lime as a natural extension of Uber's transportation network, our partnership allows Lime to strategically target consumers already invested in shared mobility, driving adoption in new and existing cities. At the same time, Uber's reputation for reliability also extends to Lime, encouraging riders who already trust Uber to view Lime as a dependable choice from the start.

**Research and Development**

Our research and development strategy focuses on advancing our proprietary hardware and software that powers our vertically integrated platform. At Lime we are constantly innovating to improve the experience for riders and cities alike. We use extensive data from our vehicles and rides to inform and rapidly develop new features in our software, enabling us to push updates across our platform and vehicles, reducing friction for riders. Our longer-term research and development strategy revolves around developing new vehicles and enhancing existing vehicles to enable us to consistently address the evolving mobility needs of cities and rider preferences. Our global scale and efficient operating model allows us to invest to maintain our technological and business advantages. Specifically, we are focused on investing in the following three areas:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Hardware Innovation</u>: We design and engineer our vehicles, including our proprietary e-scooters, e-bikes, and seated e-scooters, in-house to elevate the rider experience, lower total cost of

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ownership, and prioritize safety and efficiency. To elevate the rider experience, we design components and features that improve comfort and convenience, including low step on/off/through heights for ease of vehicle access and swept handlebars to support longer rides. To reduce our total cost of ownership, we focus on customized and redesigned components for durability and maintainability, such as parts that can be shared between generations of e-scooters and e-bikes to streamline inventory management, and focusing on universal designs that optimize our ability to redeploy any vehicle in our fleet seamlessly into any nearby cities or regions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Software Innovation</u>: Our software is designed to be user friendly for both our operations workforce who use the Lime Supply App and our riders who use the Rider App. In software our research and development initiatives are also driven by our advanced data strategy. Since inception, we have invested in developing sophisticated data acquisition and analysis capabilities, including algorithms that leverage our proprietary telemetry data which support our precise demand forecasting. Our research and development strategy also focuses on developing predictive analytical techniques and machine learning to further optimize the efficiency of our operations. We continuously develop new methods to extract greater value from our data assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Talent Investment</u>: As our technological advantage has been core to our success, we continuously invest in talent in research and development. Our research and development team is composed of a highly skilled workforce focusing on both hardware and software design and development. We employ mechanical and electrical engineers and industrial designers who develop our hardware products and software, IoT, and embedded software engineers who focus on our software systems. We plan to continue expanding our headcount to deepen our expertise and broaden our capabilities in all areas across our platform. We believe this strategic growth in our research and development team is crucial for addressing new opportunities and bringing novel, impactful innovation to market.

As a direct consequence of our strategic investments, we anticipate that our research and development expenses will increase on an absolute dollar basis. This sustained investment underscores our commitment to maintaining our competitive edge in the market.

**Operations and Support** 

Lime focuses on delivering excellent customer service to both cities and riders. Typically, our local operations team, which includes government relations and operations staff, meets with city officials on a monthly basis to review the micromobility program and present periodic reports on usage, adoption, or other trends. City officials can also contact our local operations team through a dedicated email or phone number to ask questions, request operational changes — such as adjusting geofenced zones for a special event — or report issues for the operations team to address. City officials also have direct access to an experienced local operations manager for more urgent matters. Lime's trust and safety team also maintains a portal for local law enforcement to raise issues or request data related to any road safety or other incidents.

Riders can access our customer service teams via the Rider App, the Lime website, phone, email, and social media. We operate a globally distributed customer service team with local language coverage that uses customer service tools such as Zendesk to track and address concerns raised by riders or members of the public. Riders are also invited to rate their ride at the end of each trip, and a low rating after a trip triggers an optional feedback form for riders to report specific issues or open a customer service ticket. Additionally, consecutive low ratings on a particular vehicle will prompt the vehicle to be deactivated until a member of the local operations workforce inspects the vehicle and certifies it for use.

In addition to investing the resources required to promptly resolve city and rider concerns, Lime also uses technology to track and analyze quantitative and qualitative feedback received by cities, members of

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the public, and riders. We use these data to continuously improve our service and inform the ongoing development of our platform and the rider experience.

**Trust and Safety**

We have a dedicated trust and safety team to handle incident responses around the globe. Our goal is to be the safest micromobility operator in the industry. Even while the number of riders and vehicles has increased over time, the rate at which incidents are reported has declined. From 2021 through 2025, 99.99% of Lime rides ended without a reported incident.

Safety is a shared responsibility among Lime, our riders, and the cities we serve. The three safety pillars that guide our shared responsibility-approach are safe vehicles, safe behavior, and safe streets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Safe Vehicles</u>: At Lime, we design our vehicles entirely in-house. We take pride in designing and deploying safe vehicles that support rider visibility, confidence, and stability. Each vehicle type is uniquely engineered with rider experience and safety at the forefront. All vehicles feature high-contrast green and white paint schemes, are equipped with lights and reflectors, and have audible warning devices. Vehicles are carefully tuned for smooth and predictable acceleration and equipped with redundant braking systems with enclosed cabling. For example, the Gen4 e-scooter features a wide footboard, a low center of gravity, swept handlebars with anti-slip grips, and a large pneumatic front wheel. The Gen4 e-bike includes a step-through frame, an adjustable seat, and pneumatic spoked wheels for enhanced stability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Safe Behavior</u>: We work to inform and educate riders to ride safely, comply with local laws, and avoid conduct that puts themselves or others at risk. New riders gain access to a vehicle-specific safety tutorial and have the option to engage a beginner "Training Mode" that provides a slower vehicle operating experience until they become more confident riders. Moreover, we may activate in-app educational features and safety quizzes tailored for local rules and regulations, multichannel safety campaigns, and our signature First Ride Academies safety course to reinforce safety and compliance. Through ongoing rider engagement, we encourage our riders to wear helmets through several channels, including in-app and on-vehicle messaging, giving helmets away at events, and offering riders incentives through our in-app "Helmet Selfie" feature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Safe Streets</u>: We partner closely with cities to support initiatives that enhance urban mobility and public safety. For example, local law enforcement have a dedicated portal to reach our trust and safety team to raise issues or request data related to any road safety or other incidents. By leveraging the data collected from our rides, we work with our government and community partners to identify traffic safety challenges and advocate for infrastructure improvements, including bike lanes, that protect low-speed road users and encourage more people to cycle, scoot, and walk.

**Intellectual Property**

Our intellectual property is an important component of our business. To establish and protect our proprietary rights, we rely on a combination of patents, trademarks, copyrights, domain names, social media handles, trade secrets, know-how, license agreements, confidentiality procedures, non-disclosure agreements with third parties, employee disclosure and invention assignment agreements, and other intellectual property and contractual rights.

As of December 31, 2025, we had 54 issued U.S. patents and approximately 64 issued patents outside of the United States, with approximately 5 pending U.S. patent applications, and approximately 58 pending patent applications outside of the United States. Our patent portfolio reflects our investment in the innovation in our fleet of proprietary electric vehicles and the feature-set of our service offering. Similarly, our trademark program is designed to preserve and protect our global brand and marketing efforts, consisting of approximately 23 registered trademarks in the United States and approximately 138 trademarks registered in jurisdictions outside of the United States, in each case as of

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December 31, 2025. In addition, we hold certain common law rights in and to certain Lime brand assets in the United States and non-U.S. jurisdictions. We have registered domain names that we use in or relate to our business, such as the li.me domain name and country code top level domain name equivalents.

**Regulation**

As of December 31, 2025, we operated in approximately 230 cities across 29 countries, which subject us to a variety of complex laws, rules, and regulations. These laws and restrictions are dynamic due to the evolving nature of shared micromobility as an industry.

In most cities where we operate, we are required to obtain a permit for our operations. In addition, our vehicles are subject to classification and regulation for safety, insurance, and general operability. We are also subject to many other laws and regulations governing issues such as worker classification, labor and employment, anti-discrimination, payments, product liability, environmental protection, personal injury, intellectual property, data protection, data privacy, AI, consumer protection and warnings, marketing, taxation, cybersecurity, competition, unionizing and collective action, arbitration agreements, worker confidentiality obligations, terms of service, mobile application accessibility, and money transmittal.

These laws and regulations are constantly evolving and may be interpreted, applied, created, or amended, in a manner that could harm our business. See the sections titled "Risk Factors," including the sections titled "—Risks Related to Our Business and Industry—Our business depends in large part on securing permits to operate. Our inability to obtain or renew permits could adversely affect our business, financial condition, results of operations, and prospects," "—Risks Related to Our Business and Industry —Our business depends on retaining permits to operate and our inability to retain permits or comply with the terms of permits could adversely affect our business, financial condition, results of operations, and prospects," "—Risks Related to our Technology and Intellectual Property—Our platform contains third-party open source software components, and failure to comply with the terms of the underlying open source software licenses could disrupt our riders' ability to access our platform," "—Risks Related to our Technology and Intellectual Property—We rely on third-party payment processors to process payments made by riders on the Rider App, and if we cannot manage our relationships with such third parties and other payment-related risks, our business, financial condition, results of operations, and prospects could be adversely affected," and "—Risks Related to Legal, Regulatory and Insurance Matters," for additional information about the laws and regulations we are subject to and the risks to our business associated with such laws and regulations.

***Permitted Operations***

In most markets we serve, we are required to obtain a permit for our operations. Permits are typically secured following a competitive bid process or licensing process where one to three micromobility operators are often selected by the city for a defined operating period. Permit requirements can address topics such as vehicle type, fleet size, operating zones, parking rules, specific vehicle requirements, helmet use and other safety requirements, insurance, and other matters, and can vary significantly by location based on population density, transportation infrastructure, local policy priorities, and other factors. Permits may also require reporting obligations on a micromobility operator's operational metrics in the city, which often must be reported on a monthly basis.

Permits are typically issued for an initial operating period of one to two years, and thereafter may be renewed either by automatic extension or through a renewal process specific to the particular city. Permits may be generally be revoked by a city at any time, with or without cause and in some cases, without notice to us.

Compliance with the issued permit is required for continued operations in a city and an increased likelihood of renewal of the permit. Regulators have broad discretion to change the requirements and to determine compliance during the operating period. Failure to comply with any of the requirements may result in a city unilaterally revoking our permit to operate. For a discussion of risks related to our permits, see "Risk Factors—Risks Related to Our Business and Industry—Our business depends in large part on

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securing permits to operate. Our inability to obtain or renew permits could adversely affect our business, financial condition, results of operations, and prospects." and "Risk Factors—Risks Related to Our Business and Industry—Our business depends on retaining permits to operate and our inability to retain permits or comply with the terms of permits could adversely affect our business, financial condition, results of operations, and prospects."

Apart from specific vehicle and traffic regulations, the micromobility industry is not currently broadly regulated. However, currently applicable regulations could potentially be superseded by state or federal legislation in the future. See "Risk Factors—Risks Related to Our Business and Industry—Our business is subject to a variety of U.S. and foreign laws, many of which are unsettled and still developing and which could subject us to claims or otherwise harm our business, financial condition, results of operations, and prospects." To bring more clarity and certainty to the micromobility industry, we engage with policymakers and advocate for legislation that establishes standards for the micromobility industry and enables our riders to continue to benefit from shared micromobility.

***Vehicle Regulation***

Beyond permit-specific requirements, aspects of Lime's vehicles, components, and maintenance operations must adhere to certain product-specific safety and operational standards from local, regional, and federal authorities. These may include specifications regarding size, weight, acceleration, speed, braking, lighting, control systems and electrical safety standards, as well as any local regulations related to battery safety, charging, storage and safe handling.

We must also comply with federal, state, local and foreign environmental and safety laws and regulations including those that address materials, recycling/second-use, waste handling, and end-of-life processing for both vehicles and batteries.

**Employees**

As of March 31, 2026, we had a total of 1,148 employees worldwide. In addition to our employees, we rely on logistics providers and contingent workers to support our logistics and operations. These engagements allow us to adjust coverage in response to seasonal demand fluctuations and help maintain service quality in our cities.

**Competition**

The markets we operate in are fiercely competitive and rapidly evolving, shaped by fragmented regulations, shifting rider preferences, and a crowded landscape of local, regional, and multinational operators — many of which are hyper-focused on niche geographies. Success hinges on scaling efficiently across borders while navigating operational complexity. We believe our vertically integrated platform — combining hardware, software, data, tech-enabled operations, and government relations expertise — positions us to drive growth and remain competitive in this dynamic environment.

While micromobility solutions like ours can sometimes compete with public transit and ride-hailing for short urban trips, we believe we ultimately complement these systems by filling critical gaps — serving as first- and last-mile connectors, reducing congestion, and extending the reach of traditional transportation networks to create a more seamless, integrated urban mobility ecosystem. Though walking remains the most available and sustainable option for very short distances, shared micromobility bridges the gap for trips just beyond comfortable walking range, offering speed and convenience without sacrificing sustainability.

Within the shared micromobility industry, Lime faces competition from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Global Micromobility Operators</u>: We define global operators as businesses with micromobility solutions available in cities on at least three continents. This includes major players of e-scooter and e-bike operators, like Bird, Bolt, and Neuron Mobility (merged with Beam Mobility). These

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operators' fleets of e-scooters and e-bikes are available in multiple cities and regions, often vying for permits and market share. Docked solutions operators include Lyft, who we compete with for riders and trips.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Local Operators</u>: Local micromobility operators in specific cities or countries often have a deep understanding of local regulations and community needs and leverage their "hometown hero" position to win share of fleet permits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Subsidized Municipal Operators</u>: Many cities and municipalities outside of the United States operate or heavily subsidize their own bike-sharing programs, viewing them as part of their public transportation infrastructure. For example, Vélib in Paris receives significant subsidies to ensure affordability and availability. These programs often integrate with existing public transit systems and aim to serve a broader public good, sometimes making them more affordable or more widely available in certain areas than private operators. Some subsidized micromobility operators and other traditional bike-sharing systems, such as Citi Bike (owned by Lyft), utilize docked stations where vehicles must be picked up and returned to specific docking stations. These systems can be publicly or privately owned and are often integrated with public transport networks.

**Facilities**

In November 2025, we entered into a lease that expires in May 2031 for approximately 29,000 gross square feet of office space in San Francisco, California, which will serve as our corporate headquarters, with occupancy expected to commence in the second quarter of 2026. We lease additional office and operational space in the United States and around the world, including in our most significant markets. We lease facilities that we use for operations at or near cities in which we operate. We do not own any warehouses or other real property. We believe that these facilities are generally suitable to meet our needs.

**Legal Proceedings**

We are currently involved in, and may in the future be involved in, legal proceedings, claims, and government investigations in the ordinary course of business. These include proceedings, claims, and investigations relating to, among other things, personal injury and product liability matters, regulatory matters, commercial matters, intellectual property, competition, tax, employment, pricing, discrimination, consumer rights, and property rights.

In the ordinary course of our business, various parties have from time to time claimed, and may claim in the future, that we are liable for damages related to accidents or other incidents involving riders using or who have used services offered on our platform, as well as those involving third parties. We are currently named as a defendant in a number of matters related to accidents or other incidents involving riders on our platform and third parties. We may also be liable to cities by way of indemnity obligations that may include an obligation to cover the expenses of claims made against a city related to our offerings. We maintain insurance policies (subject to self-insured retentions) which are intended to protect us against material loss. There is currently no pending or threatened legal proceeding that individually, in our opinion, is likely to have a material impact on our business, financial condition or results of operations; however, results of litigation and claims are inherently unpredictable and legal proceedings related to such accidents or incidents, individually or in the aggregate, could have a material impact on our business, financial condition, results of operations, and prospects.

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![managementcover1a.jpg](managementcover1a.jpg)

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**MANAGEMENT**

**Executive Officers and Directors**

The following table sets forth information regarding our executive officers and directors as of May 7, 2026:

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| | | |
|:---|:---|:---|
| **Name** | **Age** | **Position(s)** |
| ***Executive Officers and Employee Director****:* | | |
| Wayne Ting | 42 | Chief Executive Officer and Director |
| Joseph Kraus | 54 | President |
| Ann Gugino | 53 | Chief Financial Officer |
| ***Non-Employee Directors****:* |  |  |
| Zhoujia "Brad" Bao  | 51 | Director and Co-Founder |
| Elizabeth (Liz) Hamren | 54 | Director |
| Andrew Macdonald | 42 | Director |
| Brandon Pedersen | 59 | Director |
| Jim Rowan | 60 | Chair of Board of Directors |
| Sarah Smith | 49 | Director |

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______________

(1)&nbsp;&nbsp;&nbsp;&nbsp;Member of the audit committee.

(2)Member of the compensation committee.

(3)Member of the nominating and corporate governance committee.

**Executive Officers and Employee Director**

***Wayne Ting*** has served as our Chief Executive Officer and as a member of our board of directors since May 2020. From October 2018 to May 2020, Mr. Ting served as our Global Head of Operations and Strategy. Mr. Ting previously served as Chief of Staff to the Chief Executive Officer for Uber, a ridesharing technology company, from July 2017 to October 2018. Mr. Ting also held the position of General Manager for Uber's Northern California operations from 2015 to 2017. Before joining Uber, Mr. Ting served as a Senior Policy Advisor at the National Economic Council in the White House from May 2012 to May 2014. Mr. Ting has served on the board of Cimpress PLC, a multinational technology company, since May 2025. Mr. Ting holds an M.B.A. from Harvard Business School and a B.A. in Political Science and Government from Columbia University.

We believe Mr. Ting is qualified to serve as a member of our board of directors because of the perspective and experience he brings as our Chief Executive Officer.

***Joseph Kraus*** has served as our President since November 2018 and effective May 22, 2026, Mr. Kraus will retire as our President. Mr. Kraus served as Partner for Google Ventures, a venture capital firm, from October 2009 to November 2018 and as Director of Product Management at Google Inc. (now Alphabet Inc.), from November 2006 to October 2009. Mr. Kraus previously served as Chief Executive Officer of JotSpot, Inc., a wiki software company, from June 2003 to October 2006. Mr. Kraus holds a B.A. in Political Science from Stanford University.

***Ann Gugino*** has served as our Chief Financial Officer since December 2023. Ms. Gugino previously served as Chief Financial Officer of Papa John's International, Inc., a pizza delivery restaurant chain, from October 2020 to May 2023. From May 2018 to October 2020, Ms. Gugino served as Senior Vice President of Financial Planning and Analysis at Target Corporation, a retail corporation. From January 2000 to May 2018, Ms. Gugino held roles of increasing responsibility at Patterson Companies, Inc., an international distributor, including Executive Vice President and Chief Financial Officer from November

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2014 to April 2018. Ms. Gugino began her career at Ernst & Young LLP, where she worked from December 1994 to December 1999. Ms. Gugino holds an Executive M.B.A from Northwestern University Kellogg School of Management and a B.S. in Accounting from the University of Wisconsin–Eau Claire.

**Non-Employee Directors**

***Zhoujia "Brad" Bao*** is one of our co-founders and has served as a member of our board of directors since May 2020. He previously served as chair of our board of directors from May 2020 until March 2026. Mr. Bao previously served as our Chief Executive Officer from July 2017 to May 2020. Mr. Bao co-founded One Market Inc. (DBA Pear.us), an e-commerce technology platform, in July 2021 and has served as its Chief Executive Officer since its founding. Mr. Bao previously served as Managing Partner of Kinzon Capital from September 2013 to April 2017. Mr. Bao also served in various roles between 2005 to 2013 for Tencent Holdings Limited, a multimedia technology company. Mr. Bao also serves as a director or board member of several private companies. Mr. Bao holds an M.B.A. from the University of California, Berkeley, Haas School of Business and a B.B.A. in International Marketing from Wuhan University.

We believe Mr. Bao is qualified to serve as a member of our board of directors because of the perspective and experience he brings as our co-founder.

***Elizabeth (Liz) Hamren*** has served as a member of our board of directors since April 2026. Ms. Hamren has served as Chief Executive Officer of AllTrails, LLC, an outdoor exploration platform, since August 2025. Prior to AllTrails, Ms. Hamren served as Chief Executive Officer of Ring LLC, a home security and smart devices manufacturer and a subsidiary of Amazon.com, Inc., from March 2023 to June 2025. She also served as Chief Operating Officer of Discord Inc., a communications platform, from December 2021 to March 2023. Ms. Hamren served as Corporate Vice President, Gaming Experience & Platforms at Microsoft Corporation, a technology company, from 2018 to December 2021 and in other leadership roles from 2017 to 2018. Ms. Hamren served in various roles at Meta Platforms, Inc., a technology company, and Dropcam, Inc., a technology company, between 2012 and 2017. Ms. Hamren has also served on the board of directors of LegalZoom.com, Inc., an online legal services platform, since 2021, and Hasbro, Inc., a toy manufacturing and entertainment company, since 2022. Ms. Hamren holds an M.B.A from Harvard Business School and a B.S. in Civil Engineering and Operations Research from Princeton University.

We believe Ms. Hamren is qualified to serve on our board of directors due to her extensive experience in executive leadership in the technology and consumer product industries, and her experience serving on the board of other major public companies.

***Andrew Macdonald*** has served as a member of our board of directors since June 2022. Mr. Macdonald has served as President and Chief Operating Officer of Uber since June 2025. Mr. Macdonald previously served as Uber's Senior Vice President, Head of Global Mobility from 2019 to June 2025 and held various general management and regional leadership roles between 2012 and 2019. Mr. Macdonald was a consultant at Bain & Company, a consulting firm, between 2007 to 2010 and later co-founded multiple early-stage private companies. He has served on the boards of Maple Leaf Foods Inc., a multinational consumer packaged meats and food production company, since May 2023. Mr. Macdonald also served previously on the board of Careem Technologies Holding Ltd., a technology company, from 2023 to July 2025 and Rise Asset Development, a microfinancing company, from August 2019 to December 2023. Mr. Macdonald holds an H.B.A. from the Ivey Business School at Western University.

We believe Mr. Macdonald is qualified to serve on our board of directors because of his extensive experience in the technology industry.

***Brandon Pedersen*** has served as a member of our board of directors since August 2025. Mr. Pedersen has served as Executive Vice President and Chief Financial Officer of Alaska Air Group, Inc., an airline company, from June 2010 to March 2020 and as their Vice President Finance and Corporate Controller from 2003 to 2010. Prior to his positions at Alaska Air, Mr. Pedersen served as audit partner at

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KPMG LLP from 2001 to 2003 and at Arthur Anderson LLP from 2000 to 2001. He has served on the boards and audit committees of Trivago N.V., a global online hotel search and booking site company, Saltchuk, a family of private transportation and distribution companies, and Expeditors International of Washington, Inc., a global logistics provider, since July 2024, April 2021, and February 2022, respectively. Mr. Pedersen holds a B.A. in Business Administration (Accounting) and a B.A. in Economics from the University of Washington.

We believe Mr. Pedersen is qualified to serve on our board of directors because of his extensive experience in the transportation sector as well as the perspectives he brings from his tenure as a chief financial officer of a public company.

***Jim Rowan*** has served as a member of our board of directors since September 2025 and became the chair of our board of directors in March 2026. Mr. Rowan has served as Chief Executive Officer at Volvo Cars, a multinational manufacturer of luxury vehicles, from March 2022 to April 2025. Mr. Rowan has also served as Chief Executive Officer at Ember Technologies, Inc., a temperature control brand and technology platform, from February 2021 to March 2022. Mr. Rowan served as Chief Operating Officer at Dyson, a multinational technology company, from 2012 to 2017, Chief Executive Officer from 2017 to 2020 and as a director from 2012 to 2020. Mr. Rowan has served as a director for several public and private companies, including Volvo Cars, Henkel GMBH and Nanofilm PTE. Mr. Rowan holds a Master's degree in Business with specialization in supply chain management and logistics from Northumbria University. Mr. Rowan also holds an HNC in Mechanical and Production Engineering from Glasgow Caledonian University.

We believe that Mr. Rowan is qualified to serve our board of directors because of his significant global experience as a technology executive.

***Sarah Smith*** has served as a member of our board of directors since June 2020. Ms. Smith founded and has served as Managing Partner of Sarah Smith Fund, a venture capital firm, since October 2022. Ms. Smith previously served as Partner of Bain Capital Ventures, a venture capital firm, from May 2018 to May 2022. Ms. Smith previously served as Vice President of Sales, Operations, Human Resources and Recruiting of Quora, a global social network, from August 2012 to September 2017. Ms. Smith also serves as a board observer or board member of several private companies. Ms. Smith holds an M.B.A. from Stanford University Graduate School of Business and a B.M. in Music Education from the University of Wisconsin-Madison.

We believe Ms. Smith is qualified to serve as a member of our board of directors because of her expertise and experience working with and investing in technology companies.

**Family Relationships**

There are no family relationships among any of our executive officers or directors.

**Board Structure and Composition** 

***Director Independence***

Our board of directors currently consists of 7 members. Our board of directors has determined that all of our directors, other than Mr. Ting and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , qualify as independent directors in accordance with Nasdaq rules. Under Nasdaq rules, the definition of independence includes a series of objective tests, such as that the director is not, and has not been for at least three years, one of our employees and that neither the director nor any of his or her family members has engaged in various types of business dealings with us. In addition, as required by Nasdaq rules, our board of directors has made a subjective determination as to each independent director that no relationships exist that, in the opinion of our board of directors, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. In making these determinations, our board of directors reviewed and discussed information

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provided by the directors and us with regard to each director's relationships as they may relate to us and our management.

***Classified Board of Directors***

In accordance with our amended and restated certificate of incorporation, which will be effective immediately prior to the completion of this offering, our board of directors will be divided into three classes with staggered three-year terms. At each annual general meeting of stockholders, the successors to directors whose terms then expire will be elected to serve from the time of election and qualification until the third annual meeting following election. Our directors will be divided among the three classes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Class I directors will be &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , and their terms will expire at the annual meeting of stockholders to be held in&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Class II directors will be &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , and their terms will expire at the annual meeting of stockholders to be held in&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Class III directors will be &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , and their terms will expire at the annual meeting of stockholders to be held in&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .

We expect that any additional directorships resulting from an increase 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. The division of our board of directors into three classes with staggered three-year terms may delay or prevent a change of our management or a change in control.

***Voting Arrangements***

The election of the members of our board of directors is currently governed by our voting agreement, as amended, that we entered into with certain holders of our capital stock ("voting agreement") and the related provisions of our current certificate of incorporation and current bylaws. Pursuant to our voting agreement, current certificate of incorporation and current bylaws, Messrs. Ting and Bao were elected by holders of our common stock, voting as a single class; Ms. Smith was elected by our board of directors to the seat designated for nomination by the holders of our Series 1-A convertible preferred stock, Series 1-A1 convertible preferred stock, Series 1-B convertible preferred stock, Series 1-C convertible preferred stock and Series 1-D convertible preferred stock (collectively, the "Series 1 convertible preferred stock"), voting together as a single class; Mr. Macdonald was elected by our board of directors to the seat designated for nomination by Uber; and each of Ms. Hamren and Messrs. Pedersen and Rowan was elected as an independent director nominated by mutual approval of each other member of our board of directors.

Our voting agreement will terminate and the provisions of our current certificate of incorporation by which our directors were elected will be amended and restated in connection with this offering. After this offering, the number of directors will be fixed by our board of directors, subject to the terms of our amended and restated certificate of incorporation and amended and restated bylaws that will become effective immediately prior to the completion of this offering. Each of our current directors will continue to serve as a director until the election and qualification of his or her successor, or until his or her earlier death, resignation, or removal.

**Role of Board in Risk Oversight Process**

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 facing us. Throughout

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the year, senior management reviews these risks with the 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, but rather administers this oversight function directly through our board of directors as a whole, as well as through various standing committees of our board of directors that address risks inherent 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 risk exposures and the steps our management has taken to monitor and control these exposures. The audit committee also approves or disapproves 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. The risk oversight process also includes receiving regular reports from our committees and members of senior management to enable our board of directors to understand our risk identification, risk management, and risk mitigation strategies with respect to areas of potential material risk, including operations, finance, legal, regulatory, cybersecurity, strategic and reputational risk.

**Board Committees**

Effective as of the date the registration statement of which this prospectus forms a part is declared effective by the SEC, our board of directors will have three standing committees: an audit committee; a compensation committee; and a nominating and corporate governance committee. Each committee is governed by a charter that will be available on our website following completion of this offering. Members serve on these committees until their resignation or until otherwise determined by our board of directors.

***Audit Committee***

Effective as of the date the registration statement of which this prospectus forms a part is declared effective by the SEC, the members of our audit committee will consist of Brandon Pedersen,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . Mr. Pedersen will be the chair of our audit committee. The composition of our audit committee meets the requirements for independence under the current listing standards of Nasdaq and Rule 10A-3 of the Exchange Act. 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;&nbsp;&nbsp;&nbsp;&nbsp; is an "audit committee financial expert" within the meaning of the SEC rules. This designation does not impose on such directors any duties, obligations, or liabilities that are greater than are generally imposed on members of our audit committee and our board of directors. Our audit committee is directly responsible for, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• appointing, retaining, compensating and overseeing the work of our independent registered public accounting firm;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• assessing the independence and performance of the independent registered public accounting firm;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing with our independent registered public accounting firm and management the scope and results of the firm's annual audit of our financial statements as well as any issues or analysis of our financial statements presentation, selection, or application of accounting principles, and the effect of regulatory and accounting initiatives on our financial statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• overseeing the financial reporting process and discussing with management and our independent registered public accounting firm the financial statements that we will file with the SEC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• pre-approving all audit and permissible non-audit services to be performed by our independent registered public accounting firm;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing policies and practices related to risk assessment and management, including with respect to financial risks and information technology risks, including cybersecurity and data privacy risk;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• overseeing our incident response plans and material breach disclosures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing, overseeing, approving, or disapproving any related person transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing with our management the scope and results of management's evaluation of our disclosure controls and procedures and management's assessment of our internal control over financial reporting, including the related certifications to be included in the periodic reports we will file with the SEC; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• establishing procedures for the confidential anonymous submission of concerns regarding questionable accounting, internal controls, or auditing matters.

***Compensation Committee***

Effective as of the date the registration statement of which this prospectus forms a part is declared effective by the SEC, the members of our compensation committee will consist of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp; . &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; will be the chair of our compensation committee. Each of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp; is a non-employee director, as defined by Rule 16b-3 promulgated under the Exchange Act and meets the requirements for independence under the current listing standards of Nasdaq. Our compensation committee is responsible for, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and approving corporate goals and objectives with respect to the compensation of our Chief Executive Officer and evaluating the performance of and setting the compensation of our Chief Executive Officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• overseeing an evaluation of our executive officers and reviewing and setting, or making recommendations to our board of directors regarding, the compensation of our executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and approving any employment and severance agreements or arrangements of our executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and making recommendations to our board of directors regarding the compensation of our non-employee board members; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and approving, or making recommendations to our board of directors regarding, incentive compensation and equity-based plans and arrangements and overseeing administration of such plans.

***Nominating and Corporate Governance Committee***

Effective as of the date the registration statement of which this prospectus forms a part is declared effective by the SEC, the members of our nominating and corporate governance committee will consist of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp; . &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;will be the chair of our nominating and corporate governance 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; , and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; meet the requirements for independence under the current listing standards of Nasdaq. Our nominating and corporate governance committee is responsible for, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• identifying and recommending candidates for membership on our board of directors, including the consideration of nominees submitted by stockholders, and on each of the board's committees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• evaluating and presenting to our board of directors the independence determination of each director and candidate, and reviewing and recommending to our board of directors regarding the composition of our board committees;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• developing, reviewing, and recommending to our board of directors our corporate governance guidelines, and monitoring compliance with our corporate governance guidelines and conflicts of interest policies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and making recommendations to our board of directors regarding requests for waivers of our corporate governance policies, practices, and procedures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• overseeing the evaluation of the performance of our board of directors and the director orientation and continuing education programs for our board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• overseeing succession planning for our executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and overseeing our strategy, initiatives, policies, and risks concerning environmental and social matters; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• making recommendations to our board of directors on corporate governance matters.

**Code of Business Conduct and Ethics**

In connection with this offering, our board of directors will adopt 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. Upon completion of this offering, the full text of our code of business conduct and ethics will be posted on the investor relations section of our website. We intend to disclose future amendments to our code of business conduct and ethics, or any waivers of such code, on our website or in public filings.

**Indemnification and Insurance**

We maintain directors' and officers' liability insurance. Our amended and restated certificate of incorporation and amended and restated bylaws will include provisions limiting the liability of directors and officers and indemnifying them under certain circumstances. We have entered or will enter into indemnification agreements with each of our directors and officers to provide our directors and officers with additional indemnification and related rights. See the section titled "Description of Securities—Limitations on Liability and Indemnification Matters" for additional information.

**Compensation Committee Interlocks and Insider Participation**

None of the members of our board of directors who will serve on our compensation committee upon the effectiveness of the registration statement of which this prospectus forms a part is or has been an officer or employee of our company. None of our executive officers currently serves, or in the past fiscal year has served, as a member of a compensation committee (or if no committee performs that function, the board of directors) of any other entity that has an executive officer serving as a member of our board of directors.

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**EXECUTIVE AND DIRECTOR COMPENSATION**

This section discusses the material components of the executive compensation program for our executive officers who are named in the "Summary Compensation Table" below. In 2025, our "named executive officers" and their positions were as follows, who included our principal executive officer and the two most highly compensated executive officers (other than our principal executive officer):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wayne Ting, Chief Executive Officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Joseph Kraus, President; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Ann Gugino, Chief Financial Officer.

Effective May 22, 2026, Mr. Kraus will retire as our President. This discussion may contain forward-looking statements that are based on our current plans, considerations, expectations and determinations regarding future compensation programs. Actual compensation programs that we adopt following the completion of this offering may differ materially from the currently planned programs summarized in this discussion. As an "emerging growth company" as defined in the JOBS Act, we are not required to include a Compensation Discussion and Analysis section and have elected to comply with the scaled disclosure requirements applicable to emerging growth companies.

**Summary Compensation Table** 

The following table sets forth information concerning the compensation of our named executive officers for the years ended December 31, 2024 and December 31, 2025.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Name and Principal Position** | **Year** | **Salary**<br>**($)** | **Option Awards ($)**<sup>(1)</sup> | **Stock Awards ($)**<sup>(1)</sup> | **Non-Equity Incentive Plan Compensation ($)**<sup>(2)</sup> | **Total ($)** |
| Wayne Ting, Chief Executive Officer | 2025 | 516767 |  | 1940040 | 488800 | 2945607 |
|  | 2024 | 500000 | 3504824 |  | 500000 | 4504824 |
| Joseph Kraus, President | 2025 | 331124 |  | 765000 | 155628 | 1251752 |
|  | 2024 | 331124 | 557649 |  | 99337 | 988110 |
| Ann Gugino, Chief Financial Officer | 2025 | 516767 |  | 765000 | 366600 | 1648367 |
|  | 2024 | 500000 |  |  | 375000 | 875000 |

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(1)Amounts reflect the full grant-date fair value of stock awards and stock options granted during 2024 and 2025, computed in accordance with ASC Topic 718 (which for the stock options that vest based on certain market conditions, reflects the full grant date fair value, as adjusted to reflect any reduction in value that is appropriate for the probability that the market condition might not be met and the shares not earned), rather than the amounts paid to or realized by the named individual. We provide information regarding the assumptions used to calculate the value of all stock awards and option awards made to executive officers in <u>[Note 11](#i2daaa9faa0b24be68f6320125a1b1051_218)</u> to our audited consolidated financial statements included elsewhere in this prospectus.

(2)Amounts reflect annual bonuses earned by each named executive officer that were certified and paid on March 13, 2026. See the section titled "—Narrative to Summary Compensation Table—2025 Bonuses" below.

**Narrative to Summary Compensation Table**

***2025 Salaries***

The named executive officers receive a base salary to compensate them for services rendered to us. The base salary payable to each named executive officer is intended to provide a fixed component of compensation reflecting the executive's skill set, experience, role and responsibilities.

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***2025 Bonuses***

In 2025, each of Messrs. Ting and Kraus and Ms. Gugino was eligible to earn an annual cash bonus targeted at $520,000, $165,562, and $260,000, respectively. Pursuant to our annual cash bonus program, each named executive officer was eligible to earn his or her annual bonus based on the attainment of pre-established annual company and individual performance objectives. On March 13, 2026, the actual achieved bonus amounts of $488,800, $155,628, and $366,600 earned in 2025, based on the achievement of company and individual performance objectives, were paid to Messrs. Ting and Kraus and Ms. Gugino, respectively.

These amounts are also are set forth above in the section titled "—Summary Compensation Table" in the column titled "Non-Equity Incentive Plan Compensation."

***Equity Compensation***

Certain of our named executive officers currently hold stock option awards granted pursuant to the 2017 Stock Incentive Plan, as amended (the "2017 Plan") that were granted in 2025.

On March 24, 2025, Messrs. Ting and Kraus and Ms. Gugino were each granted an award of 95,100,000, 37,500,000 and 37,500,000 RSUs, respectively. The RSUs have two vesting requirements, (i) a liquidity event requirement which will be satisfied upon the completion of this offering and (ii) a time-based requirement which will be satisfied as to 1/12<sup>th</sup> of the RSUs on each quarterly anniversary of March 15, 2025 over three years, subject to the named executive officer's continued service through each applicable vesting date.

Upon the completion of this offering, we intend to adopt a 2026 Incentive Award Plan, referred to below as the 2026 Plan, in order to facilitate the grant of cash and equity incentives to our directors, employees (including our named executive officers) and consultants and certain of our affiliates and to enable us and certain of our affiliates to obtain and retain the services of these individuals, which is essential to our long-term success. For additional information about the 2026 Plan, please see the section titled "—Equity Incentive Plans" below.

***Other Elements of Compensation***

<u>Retirement Plans</u>

We currently maintain a 401(k) retirement savings plan for our employees, including our named executive officers, who satisfy certain eligibility requirements. Our named executive officers are eligible to participate in the 401(k) plan on the same terms as other full-time employees. The Internal Revenue Code allows eligible employees to defer a portion of their compensation, within prescribed limits, on a pre-tax basis through contributions to the 401(k) plan. We did not make any matching contributions on behalf of our named executive officers in 2025. We believe that providing a vehicle for tax-deferred retirement savings though our 401(k) plan adds to the overall desirability of our executive compensation package and further incentivizes our employees, including our named executive officers, in accordance with our compensation policies.

<u>Employee Benefits and Perquisites</u>

*Health/Welfare Plans.* All of our full-time employees, including our named executive officers, are eligible to participate in our health and welfare plans, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• medical, dental and vision benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• medical and dependent care flexible spending accounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• short-term and long-term disability insurance; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• life insurance.

*Perquisites*. We determine whether to provide perquisites on a case-by-case basis and will provide a perquisite to a named executive officer when we believe it is necessary to attract or retain the named executive officer. We did not provide any perquisites to our named executive officers in 2025.

<u>No Tax Gross-Ups</u>

We do not make gross-up payments to cover our named executive officers' personal income taxes that may pertain to any of the compensation or perquisites paid or provided by us.

**Outstanding Equity Awards at Fiscal Year-End** 

The following table summarizes the number of shares of common stock underlying outstanding equity incentive plan awards for each named executive officer as of December 31, 2025.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | **Option Awards** | **Option Awards** | **Option Awards** | **Option Awards** | **Option Awards** | **Stock Awards** | **Stock Awards** |
|<br>**Name** | **Vesting Commencement Date** | **Vesting Commencement 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>(1)</sup> |
| Wayne Ting | 10/12/2018 |  | 15000000 |  |  | 0.0078 | 10/28/2028 |  |  |
|  | 9/1/2019 |  | 7000000 |  |  | 0.0078 | 8/26/2029 |  |  |
|  | 9/12/2019 |  | 5000000 |  |  | 0.0078 | 9/14/2029 |  |  |
|  | 5/22/2020 |  | 462941665 |  |  | 0.0078 | 7/21/2030 |  |  |
|  | 5/22/2020 |  | 5804830 |  |  | 0.0078 | 9/28/2030 |  |  |
|  | 9/15/2019 |  | 5000000 |  |  | 0.0078 | 9/14/2029 |  |  |
|  | 5/23/2024 | <sup>(2)</sup> | 131944444 | 118055556 |  | 0.0171 | 5/22/2034 |  |  |
|  |  | <sup>(3)</sup> |  |  | 50000000 | 0.0171 | 5/22/2034 |  |  |
|  | 3/15/2025 | <sup>(6)</sup> |  |  |  |  |  | 95100000 | 4945200 |
| Joseph Kraus | 5/22/2020 |  | 2515427 |  |  | 0.0078 | 9/28/2030 |  |  |
|  | 3/1/2024 | <sup>(4)</sup> | 31250000 | 18750000 |  | 0.0162 | 3/22/2034 |  |  |
|  | 3/15/2025 | <sup>(6)</sup> |  |  |  |  |  | 37500000 | 1950000 |
| Ann Gugino | 12/11/2023 | <sup>(5)</sup> | 99999999 | 50000001 |  | 0.0149 | 12/14/2033 |  |  |
|  |  | <sup>(3)</sup> |  |  | 50000000 | 0.0149 | 12/25/2029 |  |  |
|  | 3/15/2025 | <sup>(6)</sup> |  |  |  |  |  | 37500000 | 1950000 |

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(1)Amounts are calculated by multiplying the number of unvested shares shown in the table by $0.0520, which was the per share fair market value of our common stock as of December 31, 2025.

(2)The shares subject to the stock option vest monthly in substantially equal installments over three years, subject to the applicable named executive officer's continued service through each applicable vesting date.

(3)The shares subject to the stock option will fully vest and become exercisable on the 10th day after both of the following conditions are achieved, subject to the named executive officer's continued service through such date and provided they are both satisfied within six years of the grant date: (i) the completion of this offering and (ii) the shares of our common stock trading publicly at or above a price per share that would result in our market capitalization at or above $4,000,000,000 for at least 90 consecutive trading days.

(4)The shares subject to the stock option vest monthly over three years, with 1/48<sup>th</sup> of the total shares subject to the option vesting during the first year, 1/24<sup>th</sup> of the total shares subject to the option vesting monthly during the second year and 1/48<sup>th</sup> of the total shares subject to the option vesting during the third year, subject to the applicable named executive officer's continued service through each applicable vesting date.

(5)The shares subject to the stock option vest over three years, with 1/3<sup>rd</sup> of the shares subject to the option vesting on the first anniversary of the vesting commencement date and 1/36<sup>th</sup> of the shares subject to the option vesting on each monthly anniversary thereafter, subject to the applicable named executive officer's continued service through each applicable vesting date.

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(6)The RSUs vest based on the satisfaction of two requirements: (i) a liquidity event requirement, which will be satisfied upon the completion of this offering, and (ii) a time-based requirement that is satisfied as to 1/12<sup>th</sup> of the RSUs on each quarterly anniversary of the vesting commencement date over a three-year period, subject to the applicable named executive officer's continued service through each applicable vesting date.

**Executive Compensation Arrangements**

***Executive Employment Arrangements***

Each of our named executive officers is party to an offer of employment that provides for position, salary, eligibility to receive annual cash bonus, eligibility to participate in employee benefit plans, and a one-time grant of time-based and/or performance-based options to purchase certain of our shares. As a condition of employment, each offer of employment requires the execution of, and compliance with, a Confidential Information and Invention Assignment Agreement which provides for perpetual confidentiality obligations, assignment of inventions, non-competition obligations during the term of employment, no conflict with any prior relationships and commitments and, for Ms. Gugino only, non-solicitation of any Company employees during the term of employment and 12 months thereafter.

Additionally, the offer of employment for Mr. Ting provides for the amendment to the exercisability of certain existing option awards and the amendment to the maturity date, recourse structure and interest rate of an existing promissory note by and between Mr. Ting and us. Further, upon termination by us without "cause" or Mr. Ting's resignation for "good reason," Mr. Ting is entitled to (i) salary continuation and payment of monthly COBRA premiums, in each case, for a period of six months following the termination date and (ii) accelerated vesting of certain option awards, which have vested prior to the date hereof, in each case, subject to Mr. Ting (1) returning of all of our property in his possession, (2) resigning from any director position with us or any of our subsidiaries and (3) timely executing and not revoking a prescribed form of release of claims. The offer of employment also provides for certain equity acceleration upon qualifying termination in connection with a "change in control," which is superseded by our CIC Severance Plan (as defined below). As of March 16, 2026, the promissory note referenced in Mr. Ting's employment agreement and the other promissory note that we issued to Mr. Ting were completely repaid. Such repayment was partially funded by cash and partially funded by our repurchase of shares of common stock held by Mr. Ting. See the section titled "Certain Relationships and Related Party Transactions – Partial Recourse Promissory Notes" for more information about Mr. Ting's promissory note repayments.

The offer of employment for Mr. Kraus provides that upon termination by us without "cause" or Mr. Kraus's resignation for "good reason," subject to his timely execution of a release of claims, Mr. Kraus will be entitled to receive (i) a lump-sum payment equal to six months of the applicable then-current base salary, (ii) payment or reimbursement for COBRA premiums until the six-month anniversary of the termination date and (iii) the accelerated vesting of unvested awards as though Mr. Kraus's employment had continued for an additional six months following the termination date. The offer of employment further provides for certain equity acceleration upon qualifying termination in connection with a "change in control," which is superseded by our CIC Severance Plan.

The offer of employment for Ms. Gugino provides that if Ms. Gugino's employment is terminated by us without "cause," she is entitled to receive a lump-sum payment equal to six months of her then-current base salary, in each case, subject to Ms. Gugino (i) returning all our property in her possession, (ii) resigning from any officer or director position with us or any of our subsidiaries, and (iii) timely executing and not revoking of a mutual general release of claims in favor of us and our officers and directors. The offer of employment further provides for certain equity acceleration upon a qualifying termination in connection with a "change in control," which is superseded by our CIC Severance Plan.

***Lime Executive Severance Plan***

We maintain the Lime Executive Severance Plan (the "CIC Severance Plan") pursuant to which executives designated by our board of directors and/or our compensation committee with at least six

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continuous months of service, including the named executive officers, are eligible to receive certain severance entitlements upon qualifying terminations.

Pursuant to the CIC Severance Plan, if a named executive officer's employment is involuntarily terminated by us without "cause" or if a named executive officer resigns for "good reason," in each case, within three months prior to or 24 months following a "change in control" (each such term, as defined in the CIC Severance Plan), then, subject to the named executive officer's timely execution and non-revocation of a general release of claims and continued compliance with any post-employment obligations, including any restrictive covenants, the named executive officer will be eligible to receive (i) a lump-sum payment equal to 24 months of base salary and monthly target bonus for Mr. Ting and 12 months of base salary and monthly target bonus for each other named executive officer, (ii) a pro-rata lump-sum payment of the named executive officer's target annual bonus for the year in which the termination occurs based on the number of days elapsed in the year through the date of termination, (iii) accelerated vesting of any then-outstanding and unvested time-based equity awards, effective as of immediately prior to the date of termination, (iv) continued healthcare coverage for 24 months for Mr. Ting and 12 months for each other named executive officer, and (v) 12 months of career transition support.

Pursuant to the CIC Severance Plan, in the event that any amounts payable to a named executive officer are subject to an excise tax pursuant to Section 280G or Section 4999 of the Code, the named executive officer will receive either (i) the full amount of such payments or (ii) such payments reduced to the least extent necessary to prevent the application of such excise tax, whichever will result in the greatest after tax benefit to the named executive officer.

**Director Compensation** 

Prior to the effectiveness of the registration statement of which this prospectus forms a part, we did not have a formal policy with respect to compensation payable to our non-employee directors for service as directors. We have, however, paid our non-employee directors cash fees for their services as members of our board of directors as set forth in the table below. Mr. Bao is party to board services agreement, dated as of October 18, 2025, that amends, restates, and renames his prior transition agreement with us and, solely with respect to certain provisions thereunder, Uber, dated as of August 17, 2020 (the "A&R Transition Agreement"). From the period from January 1, 2025 through October 18, 2025, Mr. Bao was entitled to an annual board service advisory fee of $200,000, payable in equal monthly installments (and pro-rated through October 18, 2025), and a monthly cash payment of $478 for healthcare coverage assistance. However, in 2025, Mr. Bao did not receive any monthly cash payments for healthcare coverage assistance. Pursuant to the A&R Transition Agreement, for the remainder of 2025, Mr. Bao was entitled to our standard director compensation package consisting of (i) an annual cash retainer of $45,000, paid quarterly, and (ii) an annual equity award valued at $225,000, granted in the form of RSUs, which vest in full on the one-year anniversary of the grant date thereof. Mr. Bao stepped down as Chair of our board of directors effective March 1, 2026.

In addition, Messrs. Rowan and Pedersen, who joined our board in 2025, were entitled to receive our standard director compensation package consisting of (i) an annual cash retainer of $45,000, to be paid quarterly (and pro-rated for their partial service in 2025), (ii) a lead independent cash retainer of $30,000 for Mr. Rowan and an audit committee chair cash retainer of $25,000 for Mr. Pedersen, each to be paid quarterly and pro-rated for their partial service in 2025, and (iii) an annual equity award of 2,134,185 RSUs for Mr. Rowan, and 2,489,882 RSUs for Mr. Pedersen, each of which shall vest upon the satisfaction of two vesting criteria: (i) a liquidity event requirement which will be satisfied upon the completion of this offering, and (ii) a time-based schedule which will be satisfied as to 100% of the RSUs on the one-year anniversary of the vesting commencement date, subject to the applicable director's continued service through the applicable vesting date. Effective March 1, 2026, following the stepping down of Mr. Bao, Mr. Rowan was appointed Chair of our board of directors (and ceased serving as the lead independent director), although he will continue to receive the same cash fees noted above.

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In April 2026, Elizabeth Hamren joined our board of directors. Ms. Hamren is entitled to receive our standard director compensation package consisting of (i) an annual cash retainer of $45,000, to be paid quarterly (and pro-rated for her partial service in 2026) and (ii) an annual equity award valued at $225,000, granted in the form of RSUs, which vest in full on the one-year anniversary of the grant date thereof.

We have also reimbursed our directors for expenses associated with attending meetings of our board of directors and committees of our board of directors.

**Non-Employee Director Compensation Program**

Commencing on the completion of this offering, our non-employee directors will be compensated in accordance with our non-employee director compensation program (the "Director Compensation Program").

Pursuant to the Director Compensation Program, our non-employee directors will receive cash compensation, paid quarterly in arrears, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each non-employee director will receive a cash retainer in the amount of $45,000 per year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any lead independent director will receive an additional cash retainer in the amount of $30,000 per year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The non-executive chair will receive an additional cash retainer in the amount of $50,000 per year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The chair of the audit committee will receive an additional cash retainer in the amount of $25,000 per year for such chair's service on the audit committee. Each non-chair member of the audit committee will receive a cash retainer in the amount of $12,500 per year for such member's service on the audit committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The chair of the compensation committee will receive an additional cash retainer in the amount of $20,000 per year for such chair's service on the compensation committee. Each non-chair member of the compensation committee will receive a cash retainer in the amount of $10,000 per year for such member's service on the compensation committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The chair of the nominating and corporate governance committee will receive an additional cash retainer in the amount of $15,000 per year for such chair's service on the nominating and corporate governance committee. Each non-chair member of the nominating and corporate governance committee will receive a cash retainer in the amount of $7,500 per year for such member's service on the nominating and corporate governance committee.

Each non-employee director may elect, on an annual basis, to convert all or a portion of such non-employee director's annual retainer into a number of restricted stock units granted under the 2026 Plan, which will be fully vested on the date of grant, and, subject to approval of our board of directors, settlement of the restricted stock units may be deferred at the election of the non-employee director.

Under the Director Compensation Program, upon his or her initial appointment or election to the board of directors (the "Director Start Date"), each non-employee director will automatically be granted an prorated annual award under the 2026 Plan (the "Initial Award") comprised of a number of restricted stock units determined by dividing (a)(i) $225,000 multiplied by (ii) a fraction (the numerator of which is the difference between 365 and the number of days from the immediately preceding last annual meeting of our stockholders date (or the date this offering is completed, if there is no preceding annual meeting date) through the Director Start Date and denominator of which is 365) by (B) the average per share closing trading price of Company common stock over the 30 consecutive trading days ending on the last trading day preceding the grant date. In addition to the Initial Award, on the date of each annual meeting of our stockholders following the completion of this offering, each non-employee director who will continue to

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serve as a non-employee director immediately following such annual meeting will automatically be granted an award under the 2026 Plan (the "Annual Award") comprised of a number of restricted stock units determined by dividing (i) $225,000 by (ii) the average per share closing trading price of Company common stock over the 30 consecutive trading days ending on the last trading day preceding the grant date. The Initial Award and the Annual Award will vest in full on the earlier of the (i) first anniversary of the grant date, and (ii) immediately prior to the annual meeting of our stockholders following the date of grant, subject to continued service through the applicable vesting date.

Pursuant to the Director Compensation Program, upon a change in control transaction, all outstanding equity awards held by our non-employee directors will vest in full.

**Director Compensation Table for Fiscal Year 2025**

The following table sets forth information regarding the compensation of our non-employee directors for the year ended December 31, 2025.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name** | **Fees Earned or Paid in Cash ($)** | **Option Awards ($)** | **Stock Awards ($)**<sup>(1)</sup> | **Total ($)** |
| Zhoujia Bao | 175815 |  |  | 175815 |
| Andrew Macdonald |  |  |  |  |
| Brandon Pedersen<sup>(2)</sup> | 26731 |  | 71456 | 98187 |
| Jim Rowan<sup>(3)(4)</sup> | 24328 |  | 61251 | 85579 |
| Sarah Smith |  |  |  |  |

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(1)Amounts reflect the full grant-date fair value of RSUs granted during 2025 computed in accordance with ASC Topic 718. We provide information regarding the assumptions used to calculate the value of all stock awards made to directors in <u>[Note 11](#i2daaa9faa0b24be68f6320125a1b1051_218)</u> to our audited consolidated financial statements included elsewhere in this prospectus.

(2)Mr. Pedersen joined our board of directors in August 2025.

(3)Mr. Rowan joined our board of directors in September 2025.

(4)Mr. Rowan was paid 20,703 euros in 2025. The amount above reflects the conversion of his director's fees to U.S. dollars, based on an exchange rate of $1 to 0.851 euros on December 31, 2025, provided by the U.S. Department of the Treasury and Bureau of the Fiscal Service.

The table below shows the aggregate numbers of option awards (exercisable and unexercisable) and unvested stock awards held as of December 31, 2025 by our directors.

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| | | |
|:---|:---|:---|
| **Name** | **Options Outstanding at Fiscal Year End** | **Unvested Restricted Shares Outstanding at Fiscal Year End** |
| Zhoujia Bao |  |  |
| Brandon Pedersen |  | 2489882 |
| Jim Rowan |  | 2134185 |
| Andrew Macdonald |  |  |
| Sarah Smith |  |  |

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**Equity Incentive Plans**

***2017 Stock Incentive Plan***

The 2017 Plan was adopted by our board of directors, effective as of February 7, 2017, with an initial reserve of 3,185,130 shares of our common stock available for future awards, and was amended effective as of each of March 6, 2017, July 3, 2018, October 29, 2018, November 21, 2018, January 24, 2019,

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February 27, 2019, November 26, 2019, May 6, 2020, February 10, 2021, February 10, 2022, December 17, 2022, March 23, 2024 and March 24, 2025. There are currently 9,639,990,530 shares of our common stock reserved for future issuance under the 2017 Plan for awards.

*Administration.* The 2017 Plan is administered by our board of directors, or a committee thereof appointed by the board of directors and composed of one or more members of board of directors. The plan administrator has the authority, in its discretion, to, among other things, (i) select the service providers to whom awards may be granted from time to time, (ii) determine whether and to what extent awards are granted, (iii) determine the number of shares of common stock or the amount of other consideration to be covered by each award, (iv) approve the forms of award agreements for use under the 2017 Plan, (v) determine all terms and conditions of awards, (vi) establish additional terms, conditions, rules, or procedures to accommodate the rules or laws of non-U.S. jurisdictions and to afford grantees favorable treatment under such rules or laws, (vii) amend the terms of any outstanding award, (viii) construe and interpret the terms of the 2017 Plan and awards thereunder and (ix) take such other action as the administrator deems appropriate and make all determinations contemplated by the 2017 Plan. Any decision made, or action taken, by the administrator or in connection with the administrator of the 2017 Plan are final, conclusive and binding on all persons having an interest in the 2017 Plan.

*Eligibility*. Our employees, consultants, directors of our parents, subsidiaries and any other entity in which we or our subsidiary holds a controlling interest through one or more intermediaries ("Related Entities") are eligible to receive awards under the 2017 Plan, provided that only employees of us or our parents or subsidiaries may be granted awards intended as incentive stock options.

*Share Reserve*. An aggregate of 9,639,990,530 shares of our common stock may be issued under the 2017 Plan, and up to 9,639,990,530 shares of common stock may be issued upon the exercise of incentive stock options. Any common stock covered by an award that is forfeited, canceled or expires is deemed not to have been issued for purposes of determining the maximum aggregate number of shares of common stock which may be issued under the 2017 Plan. If unvested shares of common stock are forfeited or repurchased by us, such shares of common stock will become available for future grant under the 2017 Plan. Any shares of common stock covered by an award which are surrendered in payment of the award exercise price or in satisfaction of tax withholding obligations related to an award will be deemed not to have been issued for purposes of determining the maximum number of shares of common stock which may be issued under the 2017 Plan, unless otherwise determined by the administrator. To the extent an award is paid out in cash rather than in shares of common stock, such cash payment will not result in reducing the number of shares of common stock available for issuance under the 2017 Plan.

*Awards*. The 2017 Plan provides that the plan administrator may grant or issue stock options, restricted stock, or restricted stock units under the 2017 Plan to eligible service providers. In general, awards granted under the 2017 Plan may not be sold or otherwise transferred except by will, in accordance with the laws of descent and distribution or, other than with respect to incentive stock options, during the lifetime of the applicable grantee, to the extent and in the manner authorized by the administrator, by gift or pursuant to a domestic relations order to members of the grantee's immediate family.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Stock Options*. Stock options may be granted to any eligible person, provided that incentive stock options may only be granted to our employees or employees of our parents, subsidiaries or Related Entities (as such term is defined in the 2017 Plan), subject to the 2017 Plan and such restrictions as may be determined by the plan administrator and set forth in an applicable award agreement. The exercise price of stock options granted to employees, directors or consultants will be determined by the plan administrator and set forth in an applicable award agreement; provided that such exercise price may not be less than fair market value of a share on grant date (or 110% of fair market value with respect to incentive stock options granted to employees holding 10% or more of our total combined voting power). No stock option award may have a term of more than ten years following the date of grant.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Restricted Stock*. Restricted stock may be granted to any eligible person and made subject to such restrictions as may be determined by the plan administrator. Recipients of restricted stock, unlike recipients of options or RSUs, will generally have the right to receive dividends or other distributions paid with respect to shares of common stock, if any, prior to the time when the restrictions lapse; however, any dividends or distributions paid in shares of common stock or other property will be subject to the same restrictions on transferability and forfeitability as the shares of common stock of the restricted stocks with respect to which they were paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Restricted Stock Units*. Restricted stock units may be awarded to any eligible person, subject to vesting or forfeiture conditions during the applicable restriction period(s) established by the plan administrator. Shares of common stock underlying RSUs will not be issued until the RSUs have vested, and, if provided by the plan administrator, dividends may be paid currently or credited to an account for the participant, may be settled in cash, additional restricted stock units and/or shares of common stock and may be subject to the same restrictions on transfer or forfeitability as the RSUs with respect to which the dividends are paid.

*Adjustments of Awards.* Subject to any required action by our stockholders, the number of shares of common stock covered by each outstanding award, and the number of shares of common stock which have been authorized for issuance under the 2017 Plan but as to which no awards have yet been granted or which have been returned to the 2017 Plan, the exercise price of each such outstanding award, any repurchase price that applies to shares of common stock pursuant to the terms of a repurchase right under an award agreement, as well as any other terms that the administrator determines require adjustment will be proportionately adjusted for (i) any increase or decrease in the number of issued shares of common stock resulting from a stock split, reverse stock split, stock dividend, recapitalization, combination or reclassification of the shares of common stock, or similar transaction affecting the shares of common stock, (ii) any other increase or decrease in the number of issued shares of common stock effected without receipt of consideration by us, or (iii) any other transaction with respect to common stock including a corporate merger, consolidation, acquisition of property or stock, separation (including a spin-off or other distribution of stock or property), reorganization, liquidation (whether partial or complete) or any similar transaction. In the event of a distribution of cash or other assets to stockholders other than a normal cash dividend, the administrator will also make such adjustments or substitute, exchange or grant awards to effect just adjustments. In connection with the foregoing adjustments, the administrator may, in its discretion, prohibit the exercise of stock options or other issuance of shares of common stock, cash or other consideration pursuant to awards during certain periods of time.

*Corporate Transaction*. In the event of any merger or consolidation in which we are not the surviving entity (except for a transaction the principle purpose of which is to change the state in which we are incorporated), the sale, transfer or other disposition of all or substantially all of our assets, the complete liquidation or dissolution of us, any reverse merger or series of related transactions culminating in a reverse merger in which we are the surviving entity (but the shares of common stock outstanding immediately prior to such merger are converted or exchanged by virtue of the merger into other property or in which securities possessing more than fifty percent of the total combined voting power of our outstanding securities are transferred to a person or persons different from those who held such securities immediately prior to such merger or the initial transaction culminating in such merger), the acquisition by any person or related group of persons of beneficial ownership of securities possessing more than fifty percent of the total combined voting power of our outstanding securities, or a change in control of us, each outstanding award will be treated as the administrator determines in its discretion including that (i) the awards will be assumed or substantially equivalent awards will be substituted by the acquiring or succeeding entity with appropriate adjustments as to the number and kind of shares, exercise prices and purchase prices, (ii) upon written notice to the a participant, the award will terminate upon or immediately prior to the consummation of such transaction, (iii) outstanding awards will vest and become exercisable, realizable, payable, settled or restrictions will lapse, in whole or in part prior to or upon consummation of such transaction, and to the event administrator determines, terminate upon or immediately prior to the effectiveness of such transaction, (iv) an award will be terminated in exchange for

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an amount of cash and/or property equal to the amount that would have been attained upon the exercise of such award or realization or settlement of the participant's rights as of the date of the occurrence of the transaction, the replacement of such award with other rights or property selected by the administrator in its sole discretion, or (v) any combination or none of the foregoing.

*Amendment and Termination.* The board of members may amend, suspend or terminate the 2017 Plan at any time (subject to stockholder approval if required in accordance with the 2017 Plan) provided that no amendment of the 2017 Plan will adversely affect any outstanding award without the consent of the affected participant.

***2026 Incentive Award Plan***

We intend to adopt the 2026 Plan, subject to approval by our stockholders, under which we may grant cash and equity incentive awards to eligible service providers in order to attract, motivate and retain the talent for which we compete. Following this offering and in connection with the effectiveness of the 2026 Plan, the 2017 Plan will terminate and no further awards will be granted under the 2017 Plan. However, all outstanding awards under the 2017 Plan will continue to be governed by their existing terms.

The material terms of the 2026 Plan, as it is currently contemplated, are summarized below. Our board of directors is still in the process of approving and implementing the 2026 Plan and, accordingly, this summary is subject to change.

*Eligibility and Administration.* Our employees, consultants and directors, and employees, consultants and directors of our subsidiaries will be eligible to receive awards under the 2026 Plan. Following our initial public offering, the 2026 Plan will be administered by our board of directors with respect to awards to non-employee directors and by our compensation committee with respect to other participants, each of which may delegate its duties and responsibilities to committees of our directors and/or officers (referred to collectively as the plan administrator below), subject to certain limitations that may be imposed under Section 16 of the Exchange Act, and/or stock exchange rules, as applicable. The plan administrator will have the authority to make all determinations and interpretations under, determine eligibility to participate in, and adopt rules for the administration of, the 2026 Plan, subject to its express terms and conditions. The plan administrator will also set the terms and conditions of all awards under the 2026 Plan, including any vesting and vesting acceleration conditions.

*Limitation on Awards and Shares Available.* An aggregate of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock will be available for issuance under awards granted pursuant to the 2026 Plan, which shares may be authorized but unissued shares, or shares purchased by us in the open market. The number of shares available for issuance will be increased by (i) the number of shares available under the 2017 Plan and the number of shares represented by awards outstanding under our 2017 Plan that expire, lapse or are terminated, exchanged for or settled in cash, surrendered, repurchased, cancelled without having been issued in full or forfeited following the effective date of the 2026 Plan, with the maximum number of shares to be added to the 2026 Plan equal to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares, and (ii) an annual increase on the first day of each calendar year beginning January 1, 2027 and ending on and including January 1, 2036, equal to the lesser of (A) 5% of the aggregate number of shares of common stock outstanding on the final day of the immediately preceding calendar year and (B) such smaller number of shares as is determined by our board of directors; provided, however, that no more than&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of stock may be issued upon the exercise of incentive stock options ("ISOs").

The following counting provisions will be in effect for the share reserve under the 2026 Plan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to the extent that an award (including an award under the 2017 Plan, or a Prior Plan Award) terminates, expires or lapses for any reason or an award is settled in cash without the delivery of shares, any shares subject to the award at such time will be available for future grants under the 2026 Plan;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to the extent shares are tendered or withheld to satisfy the grant, exercise price or tax withholding obligation with respect to any award under the 2026 Plan or Prior Plan Award, such tendered or withheld shares will be available for future grants under the 2026 Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to the extent shares subject to SARs are not issued in connection with the stock settlement of SARs on exercise thereof, such shares will be available for future grants under the 2026 Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to the extent that shares of our common stock are repurchased by us prior to vesting so that shares are returned to us, such shares will be available for future grants under the 2026 Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the payment of dividend equivalents in cash in conjunction with any outstanding awards or Prior Plan Awards will not be counted against the shares available for issuance under the 2026 Plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to the extent permitted by applicable law or any exchange rule, shares issued in assumption of, or in substitution for, any outstanding awards of any entity acquired in any form of combination by us or any of our subsidiaries will not be counted against the shares available for issuance under the 2026 Plan.

The 2026 Plan provides that, commencing with the calendar year following the calendar year in which the effective date of the 2026 Plan occurs, the sum of any cash compensation and the aggregate grant date fair value (determined as of the date of the grant under ASC Topic 718, or any successor thereto) of all awards granted to a non-employee director as compensation for services as a non-employee director during any calendar year may not exceed the amount equal to $1,000,000 for the non-employee director's first year of service and $750,000 for each year of the non-employee director's service thereafter.

*Awards.* The 2026 Plan provides for the grant of stock options, including ISOs, nonqualified stock options ("NSOs"), restricted stock, restricted stock units, performance shares, other incentive awards, stock appreciation rights ("SARs"), and cash awards. No determination has been made as to the types or amounts of awards that will be granted to specific individuals pursuant to the 2026 Plan. Certain awards under the 2026 Plan may constitute or provide for a deferral of compensation, subject to Section 409A of the Code, which may impose additional requirements on the terms and conditions of such awards. All awards under the 2026 Plan will be set forth in award agreements, which will detail all terms and conditions of the awards, including any applicable vesting and payment terms and post-termination exercise limitations. Awards other than cash awards generally will be settled in shares of our common stock, but the plan administrator may provide for cash settlement of any award. A brief description of each award type follows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Stock Options*. Stock options provide for the purchase of shares of our common stock in the future at an exercise price set on the grant date. Incentive stock options, by contrast to NSOs, may provide tax deferral beyond exercise and favorable capital gains tax treatment to their holders if certain holding period and other requirements of the Code are satisfied. The exercise price of a stock option may not be less than 100% of the fair market value of the underlying share on the date of grant (or 110% in the case of incentive stock options granted to employees holding 10% or more of our total combined voting power), except with respect to certain substitute options granted in connection with a corporate transaction. The term of a stock option may not be longer than ten years (or five years in the case of incentive stock options granted to employees holding 10% or more of our total combined voting power). Vesting conditions determined by the plan administrator may apply to stock options and may include continued service, performance and/or other conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *SARs*. SARs entitle their holder, upon exercise, to receive from us an amount equal to the appreciation of the shares subject to the award between the grant date and the exercise date. The exercise price of a SAR may not be less than 100% of the fair market value of the underlying share on the date of grant (except with respect to certain substitute SARs granted in connection

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with a corporate transaction) and the term of a SAR may not be longer than ten years. Vesting conditions determined by the plan administrator may apply to SARs and may include continued service, performance and/or other conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Restricted Stock and Restricted Stock Units*. Restricted stock is an award of nontransferable shares of our common stock that remain forfeitable unless and until specified conditions are met, and which may be subject to a purchase price. Restricted stock units are contractual promises to deliver shares of our common stock in the future, which may also remain forfeitable unless and until specified conditions are met. Delivery of the shares underlying restricted stock units may be deferred under the terms of the award or at the election of the participant, if the plan administrator permits such a deferral. Conditions applicable to restricted stock and restricted stock units may be based on continuing service, the attainment of performance goals and/or such other conditions as the plan administrator may determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Other Stock or Cash Based Awards*. Other stock or cash based awards of cash, fully vested shares of our common stock and other awards valued wholly or partially by referring to, or otherwise based on, shares of our common stock. Other stock or cash based awards may be granted to participants and may also be available as a payment form in the settlement of other awards, as standalone payments and as payment in lieu of base salary, bonus, fees or other cash compensation otherwise payable to any individual who is eligible to receive awards.

Any award may be granted as a performance award, meaning that the award will be subject to vesting and/or payment based on the attainment of specified performance goals.

*Certain Transactions.* The plan administrator has broad discretion to take action under the 2026 Plan, as well as make adjustments to the terms and conditions of existing and future awards, to prevent the dilution or enlargement of intended benefits and facilitate necessary or desirable changes in the event of certain transactions and events affecting our common stock, such as stock dividends, stock splits, mergers, acquisitions, consolidations and other corporate transactions. In addition, in the event of certain non-reciprocal transactions with our stockholders known as "equity restructurings," the plan administrator will make equitable adjustments to the 2026 Plan and outstanding awards. Upon or in anticipation of a change of control, the plan administrator may cause any outstanding awards to terminate at a specified time in the future and give the participant the right to exercise such awards during a period of time determined by the plan administrator in its sole discretion. Individual award agreements may provide for additional accelerated vesting and payment provisions.

*Foreign Participants, Claw-Back Provisions, Transferability, and Participant Payments.* The plan administrator may modify award terms, establish subplans and/or adjust other terms and conditions of awards, subject to the share limits described above, in order to facilitate grants of awards subject to the laws and/or stock exchange rules of countries outside of the United States. All awards will be subject to the provisions of any clawback policy implemented by us to the extent set forth in such clawback policy and/or in the applicable award agreement. With limited exceptions for estate planning, domestic relations orders, certain beneficiary designations and the laws of descent and distribution, awards under the 2026 Plan are generally non-transferable prior to vesting, and are exercisable only by the participant. With regard to tax withholding, exercise price and purchase price obligations arising in connection with awards under the 2026 Plan, the plan administrator may, in its discretion, accept cash or check, shares of our common stock that meet specified conditions, a "market sell order" or such other consideration as it deems suitable.

*Plan Amendment and Termination.* Our board of directors may amend or terminate the 2026 Plan at any time; however, except in connection with certain changes in our capital structure, stockholder approval will be required for any amendment that increases the number of shares available under the 2026 Plan. Stockholder approval is not required for any amendment that "reprices" any stock option or SAR, or cancels any stock option or SAR in exchange for cash or another award when the option or SAR price per share exceeds the fair market value of the underlying shares. No incentive stock options may be

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granted pursuant to the 2026 Plan after the tenth anniversary of the effective date of the 2026 Plan, and no additional annual share increases to the 2026 Plan's aggregate share limit will occur from and after such anniversary. Any award that is outstanding on the termination date of the 2026 Plan will remain in force according to the terms of the 2026 Plan and the applicable award agreement.

***2026 Employee Stock Purchase Plan***

In connection with the offering, we intend to adopt the ESPP, which will become effective on the day the ESPP is adopted by our board of directors. The material terms of the ESPP, as it is currently contemplated, are summarized below. Our board of directors is still in the process of developing, approving and implementing the ESPP and, accordingly, this summary is subject to change.

*Components.* The ESPP is comprised of two distinct components in order to provide increased flexibility to grant options to purchase shares under the ESPP to U.S. and to non-U.S. employees. Specifically, the ESPP authorizes (1) the grant of options to U.S. employees that are intended to qualify for favorable U.S. federal tax treatment under Section 423 of the Code, (the "Section 423 Component"), and (2) the grant of options that are not intended to be tax-qualified under Section 423 of the Code to facilitate participation for employees located outside of the United States who do not benefit from favorable U.S. tax treatment and to provide flexibility to comply with non-U.S. law and other considerations (the "Non-Section 423 Component"). Where possible under local law and custom, we expect that the Non-Section 423 Component generally will be operated and administered on terms and conditions similar to the Section 423 Component.

*Administration.* Subject to the terms and conditions of the ESPP, our compensation committee will administer the ESPP. Our compensation committee can delegate administrative tasks under the ESPP to the services of an agent and/or employees to assist in the administration of the ESPP. The administrator will have the discretionary authority to administer and interpret the ESPP. Interpretations and constructions by the administrator of any provision of the ESPP or of any rights thereunder will be conclusive and binding on all persons. We will bear all expenses and liabilities incurred by the ESPP administrator.

*Share Reserve.* The maximum number of shares of our common stock which will be authorized for sale under the ESPP is equal to the sum of (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock and (b) an annual increase on the first day of each fiscal year beginning in fiscal year 2027 and ending in fiscal year 2036, equal to the lesser of (i) 1% of the shares of our common stock outstanding (on an as converted basis) on the last day of the immediately preceding fiscal year and (ii) such number of shares of common stock as determined by our board of directors; provided, however, no more than&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock may be issued under the ESPP. The shares reserved for issuance under the ESPP may be authorized but unissued shares or reacquired shares.

*Eligibility.* Employees eligible to participate in the ESPP for a given offering period generally include employees who are employed by us or one of our subsidiaries on the first day of the offering period, or the enrollment date. Our employees (and, if applicable, any employees of our subsidiaries) who customarily work less than five months in a calendar year or are customarily scheduled to work less than 20 hours per week will not be eligible to participate in the ESPP. Finally, an employee who owns (or is deemed to own through attribution) 5% or more of the combined voting power or value of all our classes of stock or of one of our subsidiaries will not be allowed to participate in the ESPP.

*Participation*. Employees will enroll under the ESPP by completing a payroll deduction form permitting the deduction from their compensation of at least 1% of their compensation but not more than 15% of their compensation. Such payroll deductions may be expressed as a whole number percentage, and the accumulated deductions will be applied to the purchase of shares on each purchase date. However, a participant may not purchase more than 2,000 shares in each offering period and no participant in the Section 423 Component may subscribe for more than $25,000 in fair market value of shares of our common stock (determined at the time the option is granted) during any calendar year. The

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ESPP administrator has the authority to change these limitations for any offering period. Notwithstanding the foregoing, a participant may be granted rights under the ESPP only if such rights, together with any other rights granted to such participant under our "employee stock purchase plans", any parent or any subsidiary, as specified by Section 423(b)(8) of the Code, do not permit such participant's rights to purchase our stock or any parent or subsidiary thereof to accrue at a rate that exceeds $25,000 of the fair market value of such stock (determined as of the first day of the offering period during which such rights are granted) in accordance with Section 423(b)(8) of the Code.

*Offering.* Under the ESPP, participants are offered the option to purchase shares of our common stock at a discount during a series of successive offering periods, the duration and timing of which will be determined by the ESPP administrator. However, in no event may an offering period be longer than 27 months in length. The option purchase price will be set forth in the offering document but shall not be lower than either 85% of the closing trading price per share of our common stock on the first trading date of an offering period in which a participant is enrolled or 85% of the closing trading price per share on the purchase date.

Unless a participant has previously canceled his or her participation in the ESPP before the purchase date, the participant will be deemed to have exercised his or her option in full as of each purchase date. Upon exercise, the participant will purchase the number of whole shares that his or her accumulated payroll deductions will buy at the option purchase price, subject to the participation limitations listed above.

A participant may cancel his or her payroll deduction authorization at any time prior to the end of the offering period. Upon cancellation, the participant will have the option to either (i) receive a refund of the participant's account balance in cash without interest or (ii) exercise the participant's option for the current offering period for the maximum number of shares of common stock on the applicable purchase date, with the remaining account balance refunded in cash without interest. Following at least one payroll deduction, a participant may also decrease (but not increase) his or her payroll deduction authorization once during any offering period. If a participant wants to increase or decrease the rate of payroll withholding, he or she may do so effective for the next offering period by submitting a new form before the offering period for which such change is to be effective.

A participant may not assign, transfer, pledge or otherwise dispose of (other than by will or the laws of descent and distribution) payroll deductions credited to a participant's account or any rights to exercise an option or to receive shares of our common stock under the ESPP, and during a participant's lifetime, options in the ESPP shall be exercisable only by such participant. Any such attempt at assignment, transfer, pledge or other disposition will not be given effect.

*Adjustments upon Changes in Recapitalization, Dissolution, Liquidation, Merger or Asset Sale*. In the event of any increase or decrease in the number of issued shares of our common stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the common stock, or any other increase or decrease in the number of shares of common stock effected without receipt of consideration by us, we will proportionately adjust the aggregate number of shares of our common stock offered under the ESPP, the number and price of shares which any participant has elected to purchase under the ESPP and the maximum number of shares which a participant may elect to purchase in any single offering period. If there is a proposal to dissolve or liquidate us, then the ESPP will terminate immediately prior to the consummation of such proposed dissolution or liquidation, and any offering period then in progress will be shortened by setting a new purchase date to take place before the date of our dissolution or liquidation. We will notify each participant of such change in writing at least ten business days prior to the new purchase date. If we undergo a merger with or into another corporation or sell all or substantially all of our assets, each outstanding option will be assumed or an equivalent option substituted by the successor corporation or the parent or subsidiary of the successor corporation. If the successor corporation refuses to assume the outstanding options or substitute equivalent options, then any offering period then in progress will be shortened by setting a new purchase date to take place before

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the date of our proposed sale or merger. We will notify each participant of such change in writing at least ten business days prior to the new exercise date.

*Amendment and Termination*. Our board of directors may amend, suspend or terminate the ESPP at any time. However, the board of directors may not amend the ESPP without obtaining stockholder approval within 12 months before or after such amendment to the extent required by applicable laws.

**Clawback Policy**

In connection with this offering, we have adopted a Policy for Recovery of Erroneously Awarded Compensation (the "Clawback Policy"), applicable to our current and former executive officers, as defined in Exchange Act Rule 10D-1(d), in accordance with SEC rules and the applicable Nasdaq listing standards. This Clawback Policy applies to incentive-based compensation that is granted, earned, or vested wholly or in part upon attainment of one or more financial reporting measures (each, "Financial Reporting Measure") that is received by an executive officer (1) after beginning service as an executive officer, (2) who served as an executive officer at any time during the performance period for that compensation, and (3) during the three completed fiscal years immediately preceding the date on which the Company concludes, or reasonably should have concluded, that the Company is required to prepare a restatement with respect to any such Financial Reporting Measure. The Clawback Policy provides that, in the event of a restatement of our financial statements due to material noncompliance with financial reporting requirements, the administrator of the Clawback Policy will recover (subject to limited exceptions) the amount (as determined on a pre-tax basis) of incentive-based compensation erroneously received by an executive officer (i.e., in the event that the amount of such compensation was calculated based on the achievement of certain financial results that were subsequently revised due to the restatement, and the amount of the incentive-based compensation that would have been earned by such executive officer had the financial results been properly reported would have been lower than the amount actually paid).

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**CERTAIN RELATIONSHIPS AND RELATED-PARTY TRANSACTIONS**

The following includes a summary of transactions since January 1, 2023 and any currently proposed transactions, to which we were or are to be a participant, in which (i) the amount involved exceeded or will exceed $120,000; and (ii) any of our directors, executive officers or holders of more than 5% of our capital stock, or any affiliate or member of the immediate family of the foregoing persons or entities, had or will have a direct or indirect material interest, other than compensation and other arrangements that are described under the section titled "Executive and Director Compensation."

We believe the terms obtained or consideration that we paid or received, as applicable, in connection with the transactions described below were comparable to terms available or the amounts that we would pay or receive, as applicable, in arm's-length transactions.

**Investors' Rights Agreement**

We are party to an investors' rights agreement which provides, among other things, certain holders of our capital stock, including Uber and entities affiliated with Andreessen Horowitz, both of which holds more than 5% of our outstanding capital stock, with 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 Securities—Registration Rights" for more information regarding these registration rights.

**Right of First Refusal**

Pursuant to certain of our equity compensation plans and certain agreements with our stockholders, including a right of first refusal and co-sale agreement with certain holders of our capital stock, including Uber and entities affiliated with Andreessen Horowitz, both of which holds more than 5% of our outstanding capital stock, Mr. Bao, our co-founder and member of our board of directors, and Mr. Kraus, our President, we or our assignees have a right to purchase shares of our capital stock which certain stockholders propose to sell to other parties. This right under the right of first refusal and co-sale agreement will terminate upon the effectiveness of the registration statement of which this prospectus forms a part.

Since January 1, 2023, we have not exercised our right of first refusal in connection with secondary sales of shares of our capital stock, including sales by certain of our executive officers or holders of more than 5% of our outstanding capital stock. 

**Voting Agreement**

We are party to a voting agreement under which certain holders of our capital stock, including Uber and entities affiliated with Andreessen Horowitz, both of which holds more than 5% of our outstanding capital stock, have agreed as to the manner in which they will vote their shares of our capital stock on certain matters, including with respect to the election of directors. Upon the effectiveness of the registration statement of which this prospectus forms a part, the voting agreement will terminate and none of our stockholders will have any special rights regarding the election or designation of members of our board of directors.

**Uber Integration Agreement**

We are a party to a license and integration agreement with Uber (the "Uber Integration Agreement"), which holds more than 5% of our outstanding capital stock, pursuant to which Uber agreed to allow riders to access our e-scooters and e-bikes through mobile applications distributed by Uber and its subsidiaries. We receive revenue for these bookings and pay a service fee to Uber in exchange. During the years ended December 31, 2023, 2024 and 2025 and the three months ended March 31, 2026, we received revenue of $73.5 million, $108.2 million, $126.6 million, and $23.8 million, respectively, and paid service

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fees to Uber of $4.4 million, $12.5 million, $15.0 million, and $2.6 million, respectively, pursuant to the integration agreement.

**Uber Lock-Up**

On October 4, 2023, in connection with the Uber Integration Agreement, we entered into a lock-up side letter (the "Uber Lock-Up") with Uber pursuant to which, Uber agreed, among other things, that it will not, without our prior written consent, subject to certain customary exceptions: 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 transfer or dispose of, directly or indirectly, (i) any shares of our common stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for our common stock held by Uber immediately prior to the date of this prospectus (the "Uber Shares") for one year following the date of this prospectus ("Uber First Lock-Up Expiration Date"), (ii) for the period commencing on the Uber First Lock-Up Expiration Date and ending on the date that is eighteen months after the date of this prospectus ("Uber Second Lock-Up Expiration Date"), more than 25% of the Uber Shares in the aggregate, and (iii) for the period commencing on the Uber Second Lock-Up Expiration Date and ending on the date that is two years after the date of this prospectus, more than 50% of the Uber Shares in the aggregate. The restrictions in the side letter shall terminate on the earliest to occur of: (i) the date that is two years after the date of this prospectus, (ii) the termination of the Uber Integration Agreement, or (iii) upon certain liquidation events under our current certificate of incorporation.

**2020 Notes**

From May through June 2020, we issued the 2020 Notes (as defined below) pursuant to a note purchase agreement or a note and warrant purchase agreement, as applicable, in the aggregate principal amount of approximately $170.0 million, of which an aggregate principal amount of $85.0 million was issued to Uber (the "2020 Uber Note"), which holds more than 5% of our outstanding capital stock, and an aggregate principal amount of $14.3 million was issued to certain entities affiliated with Andreessen Horowitz (the "2020 a16z Notes"), which hold more than 5% of our outstanding capital stock. The 2020 Notes accrue non-compounding interest at a rate of 4.0% per annum and mature seven years following the date of issuance, unless earlier converted pursuant to their terms.

During each of the years ended December 31, 2023, 2024 and 2025, the 2020 Uber Note and the 2020 a16z Notes accrued interest in the amounts of $3.4 million and $0.6 million, respectively. During the three months ended March 31, 2026, the 2020 Uber Note and the 2020 a16z Notes accrued interest in the amounts of $0.9 million and $0.1 million, respectively. As of March 31, 2026, the outstanding aggregate principal amount of the 2020 Uber Note and the 2020 a16z Notes was $85.0 million and $14.3 million, respectively. See the section titled "Description of Securities—2020 Notes" for additional information.

**2021 Notes**

Between October and November 2021, we issued the 2021 Notes pursuant to a note purchase agreement (as amended, restated, amended and restated, supplemented, or otherwise modified from time to time, the "2021 NPA"), in the aggregate principal amount of $417.6 million to certain investors, of which an aggregate principal amount of $50.0 million was issued to Uber (the "2021 Uber Note"). The 2021 Notes, as amended, mature five years following the date of issuance, unless earlier converted pursuant to their terms. The 2021 Notes initially accrued interest at a rate of 4.0% per annum, which increased by 0.5% in April 2023, by an additional 1.0% in October 2023 and by 1.0% every six months thereafter, up to a maximum rate of 8.0%. As of March 31, 2026, the interest rate on the 2021 Notes was 8.0%. Interest accrued is payable semi-annually in arrears commencing in October 2022, at our election, either by adding such accrued interest amount to the outstanding principal amount of the 2021 Notes (such addition, a "PIK interest payment") or in the form of cash.

To date, we have elected to pay the interest accrued in the form of PIK interest payments. During the years ended December 31, 2023, 2024, and 2025 and the three months ended March 31, 2026, the 2021

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Uber Note accrued interest in the amount of $2.3 million, $3.6 million, $4.6 million, and $2.1 million, respectively. As of March 31, 2026, the outstanding aggregate principal amount of the 2021 Uber Note was $50.0 million, exclusive of any PIK interest payments. See the section titled "Description of Securities—2021 Notes" for additional information.

**Senior Secured Term Loan and Uber Guaranty**

On October 5, 2023, we entered into a credit agreement (as amended, restated, amended and restated, supplemented, or otherwise modified from time to time, the "Credit Agreement") with the lenders party thereto, Alter Domus (US) LLC, as administrative agent, and Diameter Finance Administration LLC, as collateral agent, providing for a senior secured term loan (the "Senior Secured Term Loan") in an aggregate principal amount of $115.0 million. The Senior Secured Term Loan bears interest at a fixed rate of 10.00% per annum, payable quarterly in arrears in cash. All outstanding principal amounts and accrued but unpaid interest is due on September 30, 2026, unless earlier repaid or accelerated pursuant to the terms of the Credit Agreement. The Senior Secured Term Loan is secured by substantially all of our assets.

On October 5, 2023, in connection with the Credit Agreement, Uber, which holds more than 5% of our outstanding capital stock, entered into a guaranty agreement (the "Uber Guaranty") with us to serve as guarantor for the benefit of the lenders under the Senior Secured Term Loan. Under the Uber Guaranty, Uber irrevocably guaranteed the full payment of our obligations under the Credit Agreement when due, whether at stated maturity or by acceleration, up to a maximum aggregate amount of $125.0 million. The Uber Guaranty is a guaranty of payment, not of collection, meaning the lenders under the Senior Secured Term Loan are not required to first seek payment from us before enforcing the Uber Guaranty.

Uber is not a loan party or guarantor under the Credit Agreement and is not subject to the covenants, representations, or obligations of the Credit Agreement, except as provided in the Uber Guaranty itself. Uber waived certain rights, such as notice of default, demand for payment and defenses, that might otherwise discharge its obligations. Uber also agreed not to exercise subrogation rights against us until all obligations are paid in full.

The Uber Guaranty will remain in effect until the Senior Secured Term Loan is repaid in full. As of March 31, 2026, we had an aggregate principal amount of $115.0 million outstanding under the Senior Secured Term Loan. We expect to use net proceeds from this offering to repay all indebtedness outstanding under the Senior Secured Term Loan as described in the section titled "Use of Proceeds," at which point the Uber Guaranty will be terminated.

**Partial Recourse Promissory Notes**

We have entered into partial recourse promissory notes and pledge agreements with certain of our executive officers and directors in connection with the exercises of stock options held by such executive officers and directors and the remittance of applicable exercise prices.

On October 19, 2018, we issued a partial recourse promissory note in the aggregate principal amount of $0.6 million to Mr. Ting, our Chief Executive Officer, in connection with his exercise of a stock option to purchase 8,000,000 shares of common stock at an exercise price per share of $0.0787. As of February 27, 2026, Mr. Ting repaid in cash the outstanding aggregate principal amount and accrued interest on this note.

On September 15, 2020, we issued a partial recourse promissory note in the aggregate principal amount of $1.2 million to Mr. Ting in connection with his exercise of a stock option to purchase 151,346,153 shares of common stock at an exercise price per share of $0.0078. As of March 13, 2026, this note was partially repaid and, on March 16, 2026, the remaining balance of $889,650 was fully repaid by our repurchase of 15,635,332 shares of Mr. Ting's common stock (which shares are not the collateral shares underlying the promissory note) at the fair market value of our common stock as of March 16, 2026 (for an aggregate repurchase price of $889,650).

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On November 2, 2018, we issued a partial recourse promissory note in the aggregate principal amount of $1.8 million to Mr. Kraus, our President, in connection with his exercise of a stock option to purchase 22,973,901 shares of common stock at an exercise price per share of $0.0787. On November 2, 2018, we issued a partial recourse promissory note in the aggregate principal amount of $8.6 million to Mr. Kraus in connection with his exercise of a stock option to purchase 108,788,196 shares of common stock at an exercise price per share of $0.0787 (together, the "Kraus Notes"). Interest on the Kraus Notes compounded annually and repayment of each of the Kraus Notes was secured by a pledge agreement. As of March 13, 2026, the outstanding principal and unpaid accrued interest under the Kraus Notes totaled $11,349,487. To effectuate Mr. Kraus' repayment of the Kraus Notes, we repurchased 131,762,097 shares of his common stock at the fair market value of our common stock as of March 13, 2026 (for an aggregate purchase price of $7,498,263) and forgave the remaining balance of $3,852,224 of the Kraus Notes.

On November 4, 2018, we issued a partial recourse promissory note in the aggregate principal amount of $11.8 million to Mr. Bao, our co-founder and member of the board of directors, in connection with his exercise of a stock option to purchase 150,000,000 shares of common stock at an exercise price per share of $0.0787. As of March 13, 2026, the interest rate on the note was 3.81%, the outstanding aggregate principal amount of the note was $11.8 million and total accrued and unpaid interest was approximately $1.0 million. Interest on the note compounded annually. Repayment of the note was secured by a pledge agreement. To effectuate Mr. Bao's repayment of the note, we repurchased 85,696,064 shares of his common stock at the fair market value of our common stock as of March 13, 2026 (for an aggregate purchase price of $4,876,106).

**Other Transactions**

We have entered into offer letter agreements with our executive officers that, among other things, provide for certain compensatory and change in control benefits. For a description of these agreements with our named executive officers, see the section titled "Executive and Director Compensation—Executive Compensation Arrangements."

We have also granted stock options, RSUs and restricted stock to our executive officers and certain of our directors. For a description of these equity awards, see the section titled "Executive and Director Compensation—Equity Compensation."

**Director and Officer Indemnification**

We have entered into indemnification agreements with certain of our current executive officers and directors, and intend to enter into new indemnification agreements with each of our current executive officers and directors before the completion of this offering.

Our amended and restated certificate of incorporation also provides that, to the fullest extent permitted by law, we will indemnify any officer or director of our company against all damages, claims, and liabilities arising out of the fact that the person is or was our officer or director, or served any other enterprise at our request as an officer or director. Amending this provision will not reduce our indemnification obligations relating to actions taken before an amendment.

**Related Person Transaction Policy**

We have a written related person transaction policy, to be effective upon the completion of this offering, that applies to our executive officers, directors, director nominees, holders of more than 5% of any class of our voting securities and any member of the immediate family of, and any entity affiliated with, any of the foregoing persons. Such persons will not be permitted to enter into a related person transaction with us without the prior consent of our audit committee, or other independent members of our board of directors in the event it is inappropriate for our audit committee to review such transaction due to a conflict of interest. Any request for us to enter into a transaction with an executive officer, director, director nominee, principal stockholder, or any of their immediate family members or affiliates, in which

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the amount involved exceeds $120,000 must first be presented to our audit committee for review, consideration, and approval. In approving or rejecting any such proposal, our audit committee will consider the relevant facts and circumstances available and deemed relevant to our audit committee, including, but not limited to, the commercial reasonableness of the terms of the transaction and the materiality and character of the related person's direct or indirect interest in the transaction. All of the transactions described in this section occurred prior to the adoption of this policy.

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**PRINCIPAL STOCKHOLDERS**

The following table contains information about the beneficial ownership of our common stock as of March 31, 2026, and as adjusted to reflect the sale of shares of our common stock offered by this prospectus by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each of our named executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each of our directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• all directors and executive officers as a group; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each person, or group of persons, known to us who beneficially owns more than 5% of our capital stock.

We have based percentage ownership of our common stock before this offering on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock outstanding, in each case, as of March 31, 2026, and assumes the occurrence of each of the filing and effectiveness of our amended and restated certificate of incorporation, which will be in effect immediately prior to the completion of this offering, and the Transactions, in each case as if it had occurred as of March 31, 2026 (based on the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus). Percentage ownership of our common stock after this offering assumes our sale of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock in this offering, assuming no exercise by the underwriters of their option to purchase additional shares of common stock.

In accordance with the rules of the SEC, beneficial ownership includes voting or investment power with respect to securities and includes the shares issuable pursuant to stock options that are exercisable within 60 days of March 31, 2026 or issuable pursuant to RSUs which are subject to vesting and settlement conditions expected to occur within 60 days of March 31, 2026 (for which the liquidity-based vesting condition will be satisfied upon the completion of this offering). Shares issuable pursuant to stock options are deemed outstanding for computing the percentage of the person holding such options but are not outstanding for computing the percentage of any other person.

For further information regarding material transactions between us and certain of our stockholders, see the section titled "Certain Relationships and Related-Party Transactions." Unless otherwise indicated, the address for each listed stockholder is: c/o Neutron Holdings, Inc., 85 2<sup>nd</sup> Street, Suite 750, San Francisco, California 94105. Except as indicated in the footnotes to the following table or pursuant to applicable community property laws, we believe, based on information furnished to us, that each

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stockholder named in the table has sole voting and investment power with respect to the shares set forth opposite such stockholder's name.

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| | | | |
|:---|:---|:---|:---|
| | **Shares Beneficially Owned Before this Offering** | | **Shares Beneficially Owned After this Offering** |
|<br>**Name of Beneficial Owner** | **Shares** |<br>**%** | **Shares** |
| **Named Executive Officers and Directors**: | | | |
| Wayne Ting<sup>(1)</sup> |  |  |  |
| Joseph Kraus<sup>(2)</sup> |  |  |  |
| Ann Gugino<sup>(3)</sup> |  |  |  |
| Zhoujia "Brad" Bao<sup>(4)</sup> |  |  |  |
| Elizabeth (Liz) Hamren<sup>(5)</sup> |  |  |  |
| Andrew Macdonald |  |  |  |
| Brandon Pedersen<sup>(6)</sup> |  |  |  |
| Jim Rowan<sup>(7)</sup> |  |  |  |
| Sarah Smith |  |  |  |
| All executive officers and directors as a group (9 persons)<sup>(8)</sup> |  |  |  |
| **Other 5% or Greater Stockholders**: |  |  |  |
| Uber Technologies, Inc.<sup>(9)</sup> |  |  |  |
| Entities affiliated with Andreessen Horowitz<sup>(10)</sup> |  |  |  |

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∗Represents beneficial ownership of less than 1%.

(1)Represents (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock; (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares underlying options to purchase shares of common stock that are exercisable within 60 days of March 31, 2026; and (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issuable upon settlement of RSUs that will have satisfied the service-based and liquidity-based vesting conditions in connection with this offering.

(2)Represents (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock; (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares underlying options to purchase shares of common stock that are exercisable within 60 days of March 31, 2026; and (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issuable upon settlement of RSUs that will have satisfied the service-based and liquidity-based vesting conditions in connection with this offering.

(3)Represents (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock; (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares underlying options to purchase shares of common stock that are exercisable within 60 days of March 31, 2026; and (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issuable upon settlement of RSUs that will have satisfied the service-based and liquidity-based vesting conditions in connection with this offering.

(4)Represents (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock; and (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issuable upon settlement of RSUs that will have satisfied the service-based vesting condition within 60 days of March 31, 2026 and liquidity-based vesting conditions in connection with this offering.

(5)Ms. Hamren joined our board of directors in April 2026.

(6)Represents (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock; and (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issuable upon settlement of RSUs that will have satisfied the service-based vesting condition within 60 days of March 31, 2026 and liquidity-based vesting conditions in connection with this offering.

(7)Represents (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock; and (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issuable upon settlement of RSUs that will have satisfied the service-based vesting condition within 60 days of March 31, 2026 and liquidity-based vesting conditions in connection with this offering.

(8)See notes 1 to 7.

(9)Consists of (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock held by Uber, a publicly traded company, (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock held by Social Bicycles B.V., a subsidiary of Uber, and (iii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of common stock issuable upon the conversion of the 2020 Uber Note. The registered address of Uber Technologies, Inc. is 1725 3rd Street, San Francisco, CA 94158.

(10)Consists of (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of common stock held by AH Parallel Fund V, L.P., for itself and as nominee for AH Parallel Fund V-A, L.P., AH Parallel Fund V-B, L.P. and AH Parallel Fund V-Q, L.P. (collectively, the "AH Parallel Fund V Entities"), (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of common stock held by Andreessen Horowitz Fund IV, L.P., for itself and as

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nominee for Andreessen Horowitz Fund IV-A, L.P., Andreessen Horowitz Fund IV-B, L.P., and Andreessen Horowitz Fund IV-Q, L.P. (collectively, the "AH Fund IV Entities"), (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of common stock held by CLF Partners, LP ("CLF"), (iv)&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock held by CONSW1, L.P. ("CONSW1") and (v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of common stock issuable upon the conversion the 2020 a16z Notes held by AH Parallel Fund V Entities, AH Fund IV Entities, CLF and CONSW1. AH Equity Partners V (Parallel), L.L.C. ("AH EP V Parallel"), the general partner of AH Parallel Fund V, L.P., may be deemed to have sole voting and dispositive power over the securities held by the AH Parallel Fund V Entities. AH Equity Partners IV, L.L.C. ("AH EP IV") is the general partner of the Andreessen Horowitz Fund IV, L.P. and CONSW1, may be deemed to have sole voting and dispositive power over the securities held by the AH Fund IV Entities and CONSW1. AH Equity Partners V, L.L.C. ("AH EP V"), the general partner of CLF, may be deemed to have sole voting and dispositive power over the securities held by CLF. The managing members of each of AH EP V Parallel, AH EP IV and AH EP V are Marc Andreessen and Benjamin Horowitz. The address for each of these entities and individuals is 2865 Sand Hill Road, Suite 101, Menlo Park, CA 94025.

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**DESCRIPTION OF SECURITIES**

*The following summary describes our capital stock and certain provisions of our amended and restated certificate of incorporation and our amended and restated bylaws, which will become effective immediately prior to the completion of this offering, the investors' rights agreement to which we and certain of our stockholders are parties and of the Delaware General Corporation Law. Because the following is only a summary, it does not contain all of the information that may be important to you. For a complete description, you should refer to our amended and restated certificate of incorporation, amended and restated bylaws, and investors' rights agreement, copies of which are filed as exhibits to the registration statement of which this prospectus is part.*

**General**

Immediately following the completion of this offering, our authorized capital stock will consist of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock, par value $0.0001 per share, and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of undesignated preferred stock, par value $0.0001 per share.

As of March 31, 2026, after giving effect to (i) the Transactions and (ii) the filing and effectiveness of our amended and restated certificate of incorporation, there were &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock outstanding, held by &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; stockholders of record, and no shares of our preferred stock outstanding.

**Common Stock**

***Voting Rights***

Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders.

Our amended and restated certificate of incorporation does not provide for cumulative voting for the election of directors. As a result, the holders of a majority of our voting shares can elect all of the directors then standing for election. Our amended and restated certificate of incorporation establishes a classified board of directors, to be divided into three classes with staggered three-year terms. Only one class of directors will be elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their respective three-year terms.

***Dividends***

Subject to preferences that may be applicable to any then outstanding preferred stock, holders of our common stock are entitled to receive dividends as may be declared from time to time by our board of directors out of legally available funds. See the section titled "Dividend Policy" for additional information.

***Right to Receive Liquidation Distributions***

In the event of our liquidation, dissolution, or winding up, holders of our common stock will be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of all of our debts and other liabilities, subject to the satisfaction of any liquidation preference granted to the holders of any then outstanding shares of preferred stock.

***No Preemptive or Similar Rights***

Our common stock is not entitled to preemptive rights and is not subject to redemption or sinking fund provisions. The rights, preferences and privileges of the holders of our common stock will be subject to, and may be adversely affected by, the rights of the holders of shares of any series of our preferred stock that we may designate in the future.

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**Preferred Stock**

Pursuant to the provisions of our amended and restated certificate of incorporation, each currently outstanding share of convertible preferred stock will automatically be converted into one share of common stock effective upon the completion of this offering. Following this offering, no shares of convertible preferred stock will be outstanding.

Following the completion of 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. 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 control of our company and might adversely affect the market price of our common stock and the voting and other rights of the holders of our common stock. We have no current plans to issue any shares of preferred stock.

**Stock Options**

As of March 31, 2026, we had outstanding stock options to purchase an aggregate of 4,325,594,672 shares of our common stock, with a weighted-average exercise price of $0.0138 per share, issued pursuant to the 2017 Plan.

**Restricted Stock Units**

As of March 31, 2026, we had outstanding RSUs representing 2,114,152,437 shares of our common stock, issuable upon satisfaction of service-based and liquidity-based vesting conditions pursuant to the 2017 Plan.

**Warrants**

***Common Stock Warrants***

As of March 31, 2026, we had outstanding warrants (excluding the 2020 Warrants (as defined below)) to purchase an aggregate of 20,111,354 shares of our common stock, with a weighted-average exercise price of $0.0456 per share.

***Preferred Stock Warrant***

As of March 31, 2026, we had an outstanding warrant to purchase an aggregate of 7,845,200 shares of our convertible Series 1-B preferred stock with an exercise price of $0.0669 per share (the "Preferred Stock Warrant"). This warrant contains a net exercise provision under which its holder may, in lieu of payment of the exercise price in cash, surrender the warrant and receive a net amount of shares based on the fair market value of the underlying shares at the time of exercise of the warrant after deduction of a number of shares equal in value to the aggregate exercise price. If the holder does not elect to exercise this warrant in connection with this offering, this warrant will remain outstanding following this offering until its expiration at the later of ten years from the date of issuance and two years from the effectiveness of this offering. If, following this offering, the fair market value of a share of common stock at the time of expiration of this warrant is greater than the exercise price of this warrant, any portion of the warrant not previously exercised will be automatically deemed exercised pursuant to the terms and at such price as described in this warrant. Upon the completion of this offering and in connection with the Transactions,

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the Preferred Stock Warrant will become a warrant to purchase 7,845,200 shares of our common stock, with an exercise price of $0.0669 per share.

***2020 Warrants***

As of March 31, 2026, we had outstanding warrants to purchase an aggregate of 155,012,054 shares of our common stock (the "2020 Warrants") with an exercise price of $0.01 per share, subject to certain customary adjustments, that we issued to certain noteholders in connection with the 2020 Investor NPA (as defined below). The 2020 Warrants became exercisable 90 days following the date of issuance and expire seven years following the date of issuance. Immediately prior to the closing of this offering, the outstanding 2020 Warrants will be automatically exercised in full, on a net exercise basis, which will result in the net issuance of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock, after giving effect to the withholding of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock underlying such warrants to satisfy the exercise price (based on the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus).

**Convertible Notes**

***2020 Notes***

On May 7, 2020, we entered into a note purchase agreement with Uber (as amended, restated, amended and restated, supplemented, or otherwise modified from time to time, the "2020 Uber NPA") and a note and warrant purchase agreement with certain other investors (the "2020 Investor NPA" and, together with the 2020 Uber NPA, the "2020 NPAs"). From May through June 2020, we issued convertible notes pursuant to the 2020 NPAs in the aggregate principal amount of approximately $170.0 million, of which an aggregate principal amount of $85.0 million was issued pursuant to the 2020 Uber Note and the remaining approximately $85.0 million to other investors, including the a16z Notes (the "2020 Investor Notes" and together with the 2020 Uber Note, the "2020 Notes").

The 2020 Notes accrue non-compounding interest at a rate of 4.0% per annum and mature seven years following the date of issuance, unless earlier converted pursuant to their terms. Accrued interest is payable in accordance with the conversion and settlement options described below. The 2020 Notes are secured by substantially all of our assets as set forth in the security agreements thereto.

The holders may, at their option, convert the principal amount of the 2020 Notes, in the case of the 2020 Uber Note, into shares of our Series 3 preferred stock, or, in the case of the 2020 Investor Notes, into Series 2 preferred stock, at a conversion rate equal to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share. Accrued interest on the 2020 Notes may, at our option, be settled in cash or converted into shares of common stock at a rate equal to the fair market value of a share of our common stock on the date of conversion as determined in good faith by our board of directors. In connection with this offering, the outstanding principal amount and any unpaid accrued interest due on the 2020 Notes will, at each holder's option, be payable in cash prior to the completion of this offering or be convertible into shares of our common stock upon the completion of this offering. Upon such election to convert the 2020 Notes, the aggregate principal amount of $85.0 million of the 2020 Uber Note (plus any unpaid accrued interest) and the aggregate principal amount of approximately $85.0 million of the 2020 Investor Notes (plus any unpaid accrued interest), in each case, outstanding as of March 31, 2026, will convert into an aggregate of up to &nbsp;&nbsp;&nbsp;&nbsp; shares and &nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock, respectively, at a ratio based on a conversion price equal to $340.0 million plus any consideration paid by each noteholder for the 2020 Notes divided by our fully-diluted capitalization on August 5, 2020 (the "2020 Note Conversion Price").

The 2020 Notes include customary covenants, representations and warranties, and events of default.

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***2021 Notes***

On October 29, 2021, we entered into the 2021 NPA. From October through November 2021, we issued convertible notes pursuant to the 2021 NPA in the aggregate principal amount of $417.6 million (the "2021 Notes").

The 2021 Notes, as amended, mature five years following the date of issuance. The 2021 Notes accrue interest at a rate of 4.0% per annum, which increased by 0.5% in April 2023, by an additional 1.0% in October 2023 and by 1.0% every six months thereafter, up to a maximum rate of 8.0%. As of March 31, 2026, the interest rate on the 2021 Notes was 8.0%. Accrued and unpaid interest is payable semi-annually in arrears commencing in October 2022, at our election, either by a PIK interest payment or in the form of cash. To date, we have elected to pay the interest accrued in the form of PIK interest payments. We may not voluntarily prepay or redeem the 2021 Notes prior to their maturity date. The 2021 Notes are secured by substantially all of our assets as set forth in the security agreement thereto.

In connection with this offering, the aggregate outstanding principal balance of the 2021 Notes plus any accrued and unpaid interest will be automatically convertible into shares of our common stock at a price per share equal to the lesser of (i) 80% of the initial public offering price per share of common stock in this offering and (ii) a specified valuation cap of $1.5 billion divided by the aggregate amount of fully diluted shares of common stock on the applicable conversion date as set forth in the 2021 Notes. Upon execution of the underwriting agreement related to this offering, the aggregate principal amount of the 2021 Notes (inclusive of PIK interest) outstanding as of March 31, 2026 will automatically convert into&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock based on a conversion price equal to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share (based on the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus). Each $1.00 increase in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would decrease the shares of common stock issued in the 2021 Notes Conversion by&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares, and each $1.00 decrease in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase the shares of common stock issued in the 2021 Notes Conversion by&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares.

The 2021 Notes include customary covenants, representations and warranties, and events of default.

**Registration Rights**

Following the completion of this offering, and subject to the market standoff agreements or lock-up agreements entered into in connection with this offering, certain holders of an aggregate of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock or their permitted transferees will be entitled to rights with respect to the registration of these shares under the Securities Act. These rights are provided under the terms of an investors' rights agreement between us and the holders of these shares and include Form S-1 demand registration rights, Form S-3 demand registration rights and piggyback registration rights. In any registration made pursuant to such investors' rights agreement, all fees, costs and expenses of underwritten registrations will be borne by us and all selling expenses, including all underwriting discounts, selling commissions and stock transfer taxes, will be borne by the holders of the shares being registered on a pro rata basis. We will not be required to bear the expenses in connection with the exercise of the demand registration rights of a registration if the request is subsequently withdrawn at the request of the selling stockholders holding a majority of securities to be registered. In an underwritten public offering, the underwriters have the right, subject to specified conditions, to limit the number of shares such holders may include.

The registration rights terminate (i) upon a deemed liquidation event, as defined in the investors' rights agreement, (ii) three years following the completion of this offering or (iii) at such time as any particular stockholder may sell all of its shares during any 90-day period pursuant to Rule 144 or another similar exemption under the Securities Act.

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***Form S-1 Demand Registration Rights***

The holders of an aggregate of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock, or their permitted transferees, are entitled to Form S-1 demand registration rights. Under the terms of the investors' rights agreement, at any time beginning 180 days after the effective date of the registration statement of which this prospectus forms a part, the holders representing a majority of the then-outstanding shares that are entitled to registration rights can request that we file a registration statement on Form S-1 covering all or some of their shares as soon as practicable, and in any event within 60 days after the date of such request, if the number of shares being registered is at least 40% of the aggregate number of the then-outstanding shares that are entitled to registration rights. We may be required to effect two registrations pursuant to this provision of the investors' rights agreement. We may postpone the filing of a registration statement once for up to 120 days in a 12-month period if our board of directors determines that the filing would be materially detrimental to us. We are not required to effect a Form S-1 demand registration under certain additional circumstances specified in the investors' rights agreement, including during the period starting with 60 days prior to our good faith estimate of the date of filing and ending on a date 180 days after the effective date of a registration statement filed at our initiation.

***Form S-3 Demand Registration Rights***

The holders of an aggregate of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock, or their permitted transferees, are also entitled to Form S-3 demand registration rights. Under the terms of the investors' rights agreement, at any time once we are eligible to file a registration statement on Form S-3, the holders representing at least 30% of the then-outstanding shares that are entitled to registration rights under the investors' rights agreement can request that we file a registration statement on Form S-3 covering all or some of their shares, as soon as practicable, and in any event within 45 days of such request, if the aggregate price to the public of the shares offered is at least $10.0 million, net of selling expenses, including underwriting discounts, selling commissions and stock transfer taxes. 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 once for up to 120 days in a 12-month period 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 investors' rights agreement, including during the period beginning 30 days prior to our good faith estimate of the date of filing and ending on a date 90 days after the effective date of a registration statement filed at our initiation.

***Piggyback Registration Rights***

If we register any of our securities for public sale, holders of an aggregate of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock, or their permitted transferees, entitled to registration rights under the investors' rights agreement will have the right to include their shares in the registration statement. However, this right does not apply to a registration relating to the sale of securities pursuant to any company stock plan, 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 the 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 shares entitled to registration rights held by each holder or in such other proportions as shall mutually be agreed to by such holders. However, the number of shares to be registered by these holders cannot be reduced unless all other securities (other than any shares to be sold by us) are first entirely excluded from the underwriting.

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**Anti-Takeover Provisions**

Certain provisions of Delaware law, our amended and restated certificate of incorporation and our amended and restated bylaws, which will become effective immediately prior to the completion of this offering, which are summarized below, may have the effect of delaying, deferring, or discouraging another person from acquiring control of us. They are also designed, in part, to encourage persons seeking to acquire control of us to negotiate first 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 Section 203 of the Delaware General Corporation Law, which prohibits a Delaware corporation from engaging in any business combination with any interested stockholder for a period of three years after the date that such stockholder became an interested stockholder, with the following exceptions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the business combination or transaction which resulted in the stockholder becoming an interested stockholder was approved by the board of directors prior to the time that the stockholder became an interested stockholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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 shares owned by directors who are also officers of the corporation and shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• at or subsequent to the time the stockholder became an interested stockholder, the business combination was approved by the board of directors and authorized at an annual or special meeting of the stockholders, and not by written consent, by the affirmative vote of at least &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of the outstanding voting stock which is not owned by the interested stockholder.

In general, Section 203 defines a "business combination" to include mergers, asset sales and other transactions resulting in financial benefit to a stockholder and an "interested stockholder" as a person who, together with affiliates and associates, owns, or within three years did own, 15% or more of the corporation's outstanding voting stock. These provisions may have the effect of delaying, deferring, or preventing changes in control of our company.

***Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws***

Our amended and restated certificate of incorporation and our amended and restated bylaws, which will become effective immediately prior to the completion of this offering, will include a number of provisions that could deter hostile takeovers or delay or prevent changes in control of our board of directors or management team, including the following:

***Classified Board***

Our amended and restated certificate of incorporation will further provide that our board of directors is divided into three classes, Class I, Class II and Class III, with each class serving staggered three-year terms. In addition, directors may only be removed from the board of directors for cause. The existence of a classified board could delay a potential acquirer from obtaining majority control of our board of directors, and the prospect of that delay might deter a potential acquirer. See the section titled "Management—Board Structure and Composition" for additional information.

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***Board of Directors Vacancies***

Our amended and restated certificate of incorporation and our amended and restated bylaws will authorize only our board of directors to fill vacant directorships, including newly created seats. In addition, the number of directors constituting our board of directors will be permitted to be set only by a resolution adopted by a majority vote of our entire board of directors. These provisions would prevent a stockholder from increasing the size of our board of directors and then gaining control of our board of directors by filling the resulting vacancies with its own nominees. This will make it more difficult to change the composition of our board of directors and will promote continuity of management.

***Stockholder Action; Special Meeting of Stockholders***

Our amended and 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, a holder controlling a majority of our capital stock would not be able to amend our amended and restated bylaws or remove directors without holding a meeting of our stockholders called in accordance with our amended and restated bylaws. Our amended and restated bylaws will further provide that special meetings of our stockholders may be called only by a majority of our board of directors, the chair of our board of directors or our Chief Executive Officer, 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 controlling a majority of our capital stock to take any action, including the removal of directors.

***Advance Notice Requirements for Stockholder Proposals and Director Nominations***

Our amended and 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 amended and restated bylaws will also specify certain requirements regarding the form and content of a stockholder's notice. These provisions might preclude our stockholders from bringing matters before our annual meeting of stockholders or from making nominations for directors at our annual meeting of stockholders if the proper procedures are not followed. We expect that these provisions may 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 Delaware General Corporation Law provides that stockholders are not entitled to cumulate votes in the election of directors unless a corporation's certificate of incorporation provides otherwise. Our amended and restated certificate of incorporation will not provide for cumulative voting.

***Amendment of Charter and Bylaws Provisions***

Amendments to our amended and restated certificate of incorporation will require the approval of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; % of the outstanding voting power of our common stock. Our amended and restated bylaws will provide that approval of stockholders holding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of our outstanding voting power voting as a single class is required for stockholders to amend or adopt any provision of our bylaws.

***Issuance of Undesignated Preferred Stock***

Our board of directors will have the authority, without further action by our stockholders, to issue up to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 would enable 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 other means.

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***Choice of Forum***

Our amended and restated certificate of incorporation and amended and restated bylaws will provide that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware will be the exclusive forum for the following types of actions or proceedings under Delaware statutory or common law: any derivative action or proceeding brought on our behalf; any action asserting a claim of breach of fiduciary duty owed by any of our directors, officers or stockholders to us or to our stockholders; any action asserting a claim against us arising pursuant to the Delaware General Corporation Law, our amended and restated certificate of incorporation or our amended and restated bylaws (as either may be amended from time to time); or any action asserting a claim against us that is governed by the internal affairs doctrine. As a result, any action brought by any of our stockholders with regard to any of these matters will need to be filed in the Court of Chancery of the State of Delaware and cannot be filed in any other jurisdiction; provided that, the exclusive forum provision will not apply to suits brought to enforce any liability or duty created solely by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction; and provided further that, if and only if the Court of Chancery of the State of Delaware dismisses any such action for lack of subject matter jurisdiction, such action may be brought in another state or federal court sitting in the State of Delaware. Our amended and restated certificate of incorporation and amended and restated bylaws will also provide that the federal district courts of the United States of America will be the exclusive forum for the resolution of any complaint asserting a cause or causes of action against us or any defendant arising under the Securities Act. Such provision is intended to benefit and may be enforced by us, our officers and directors, employees and agents, including the underwriters and any other professional or entity who has prepared or certified any part of this prospectus. Nothing in our amended and restated certificate of incorporation and amended and restated bylaws preclude stockholders that assert claims under the Exchange Act from bringing such claims in state or federal court, subject to applicable law.

If any action the subject matter of which is within the scope described above is filed in a court other than a court located within the State of Delaware (a "Foreign Action"), in the name of any stockholder, such stockholder shall be deemed to have consented to the personal jurisdiction of the state and federal courts located within the State of Delaware in connection with any action brought in any such court to enforce the applicable provisions of our amended and restated certificate of incorporation and amended and restated bylaws and having service of process made upon such stockholder in any such action by service upon such stockholder's counsel in the Foreign Action as agent for such stockholder. Although our amended and restated certificate of incorporation and amended and restated bylaws will contain the choice of forum provision described above, it is possible that a court could find that such a provision is inapplicable for a particular claim or action or that such provision is unenforceable.

This choice of forum provision may limit a stockholder's ability to bring a claim in a judicial forum that it finds favorable for disputes with us or any of our directors, officers, other employees or stockholders, which may discourage litigation with respect to such claims or make such litigation more costly for stockholders, although our stockholders will not be deemed to have waived our compliance with federal securities laws and the rules and regulations thereunder.

**Limitations on Liability and Indemnification Matters**

Our amended and restated certificate of incorporation will limit the liability of our directors and officers to the fullest extent permitted by the Delaware General Corporation Law, and our amended and restated bylaws will provide that we will indemnify them to the fullest extent permitted by such law. We expect to enter into indemnification agreements with our current directors and executive officers prior to the completion of this offering and expect to enter into a similar agreement with any new directors or executive officers. Further, pursuant to our indemnification agreements and directors' and officers' liability insurance, our directors and executive officers will be indemnified and insured against the cost of defense, settlement or payment of a judgment under certain circumstances. In addition, as permitted by Delaware law, our amended and restated certificate of incorporation will include provisions that eliminate the personal liability of our directors and officers for monetary damages resulting from breaches of certain

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fiduciary duties as a director or officer. The effect of this provision is to restrict our rights and the rights of our stockholders in derivative suits to recover monetary damages against a director or officer for breach of fiduciary duties as a director or officer.

These provisions may be held not to be enforceable for violations of the federal securities laws of the United States.

**Listing**

We intend to apply to list our common stock on Nasdaq under the symbol "LIME."

**Transfer Agent and Registrar**

The transfer agent and registrar for our common stock will be Computershare Trust Company, N.A. The transfer agent and registrar's address is 150 Royall Street, Canton, MA 02021.

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**SHARES ELIGIBLE FOR FUTURE SALE**

Prior to this offering, there has been no public market for our common stock. Future sales of substantial amounts of our common stock in the public market could adversely affect market prices prevailing from time to time. Furthermore, because only a limited number of shares will be available for sale shortly after this offering due to existing contractual and legal restrictions on resale as described below, there may be sales of substantial amounts of our common stock in the public market after the restrictions lapse. This may adversely affect the prevailing market price and our ability to raise equity capital in the future.

Upon the completion of this offering, based on the number of shares of our capital stock outstanding as of March 31, 2026, we will have an aggregate of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of common stock outstanding, assuming no exercise of the underwriters' option to purchase additional shares of common stock, no exercise of any stock options or warrants or settlement of RSUs after March 31, 2026, and after giving effect to the Transactions (based on the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the price range set forth on the cover page of this prospectus). All of the shares of common stock sold in this offering will be freely tradable without restrictions or further registration under the Securities Act, except for any shares purchased by our "affiliates," as that term is defined in Rule 144 under the Securities Act, whose sales would be subject to the Rule 144 resale restrictions described below, other than the holding period requirement.

The remaining shares of common stock and shares of common stock subject to stock options will be on issuance deemed "restricted securities," as that term is defined in Rule 144 under the Securities Act. These restricted securities are eligible for public sale only if they are registered under the Securities Act or if they qualify for an exemption from registration under Rules 144 or 701 under the Securities Act, which are summarized below. We expect that substantially all of these shares will be subject to the 180-day lock-up period under the lock-up agreements described below. Upon expiration of the lock-up period, we estimate that approximately &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares will be available for sale in the public market, subject in some cases to applicable volume limitations under Rule 144.

**Rule 144**

In general, a person who has beneficially owned restricted shares of our common stock for at least six months would be entitled to sell such securities, provided that (i) such person is not deemed to have been one of our affiliates at the time of, or at any time during the 90 days preceding, a sale; and (ii) we are subject to the Exchange Act periodic reporting requirements for at least 90 days before the sale. Persons who have beneficially owned restricted shares of our common stock for at least six months but who are our affiliates at the time of, or any time during the 90 days preceding, a sale, would be subject to additional restrictions, by which such person would be entitled to sell within any three-month period only a number of securities that does not exceed the greater of either of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1% of the number of shares of our common stock then outstanding, which will equal approximately &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares immediately after this offering, assuming no exercise of the underwriters' option to purchase additional shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the average weekly trading volume of shares of our common stock on the &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; during the four calendar weeks preceding the filing of a notice on Form 144 with respect to that sale;

provided, in each case, that we are subject to the Exchange Act periodic reporting requirements for at least 90 days before the sale. Such sales both by affiliates and by non-affiliates must also comply with the manner of sale, current public information and notice provisions of Rule 144 to the extent applicable.

**Rule 701**

In general, under Rule 701 as currently in effect, any of our employees, directors, officers, consultants or advisors who acquired common stock from us in connection with a written compensatory stock or

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option plan or other written agreement in compliance with Rule 701 before the effective date of the registration statement of which this prospectus is a part (to the extent such common stock is not subject to a lock-up agreement) and who are not our "affiliates" as defined in Rule 144 during the immediately preceding 90 days, is entitled to rely on Rule 701 to resell such shares beginning 90 days after the date of this prospectus in reliance on Rule 144, but without complying with the notice, manner of sale, public information requirements or volume limitation provisions of Rule 144. Persons who are our "affiliates" may resell those shares beginning 90 days after the date of this prospectus without compliance with minimum holding period requirements under Rule 144 (subject to the terms of the lock-up agreement referred to below, if applicable).

**Lock-Up and Market Standoff Agreements**

We and all of our directors and executive officers and certain other record holders that together represent approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; % of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to lock-up agreements with the underwriters agreeing that, subject to certain exceptions fully described under the section titled "Underwriting," without the prior written consent of Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, on behalf of the underwriters, we and they will not, in accordance with the terms of such agreements, during the period ending on 180 days after the date of this prospectus (such period, the "Lock-Up Period") (i) offer, sell, contract to sell, pledge, grant any option, right or warrant to purchase, purchase any option or contract to sell, lend or otherwise transfer or dispose of any shares of common stock, or any options or warrants to purchase any shares of common stock, or any securities convertible into, exchangeable for or that represent the right to receive shares of common stock (such shares of common stock, options, rights, warrants or other securities, collectively, "Lock-Up Securities"), including without limitation any such Lock-Up Securities now owned or hereafter acquired by the lock-up party, (ii) engage in any hedging or other transaction or arrangement (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) which is designed to or which reasonably could be expected to lead to or result in a sale, loan, pledge or other disposition (whether by the lock-up party or someone other than the lock-up party), or transfer of any of the 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 common stock or other securities, in cash or otherwise, (iii) make any demand for or exercise any right with respect to the registration of any Lock-Up Securities or (iv) otherwise publicly announce any intention to engage in or cause any action, activity, transaction or arrangement described in clause (i), (ii) or (iii) above. See the section titled "Underwriting" for additional information.

Furthermore, (1) an additional approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; % of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to the market standoff provisions in our amended and restated investors' rights agreement or substantially similar market standoff provisions in other agreements, in which such holders agreed to not (i) 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, or (ii) 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 (i) or (ii) above is to be settled by delivery of common stock or other securities, in cash, or otherwise; and (2) an additional approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; % of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to restrictions contained in market standoff agreements with us which include restrictions on the sale, transfer, or other disposition of shares. The forms and specific restrictive provisions within these market standoff provisions vary between 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

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and security holders as to whether they restrict hedging, our insider trading policy will prohibit 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 common stock.

As a result of the foregoing, substantially all of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to a lock-up agreement or market standoff provisions during the Lock-Up 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 Lock-Up Period without the prior consent of Goldman Sachs & Co. LLC and 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 signed by our directors, executive officers, and certain other record holders of our securities as described herein.

See "Underwriting" for information about exceptions to the lock-up agreements and market standoff agreements described above and a further description of these agreements. Upon the expiration of the Lock-Up Period, substantially all of the securities subject to such transfer restrictions (other than certain shares held by Uber, as discussed below) will become eligible for sale, subject to the limitations discussed above.

***Uber Lock-Up***

Pursuant to the Uber Lock-Up, Uber has agreed that, among other things, it will not without our prior written consent, subject to certain customary exceptions and termination provisions, 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 transfer or dispose of, directly or indirectly, (i) any of the Uber Shares for one year following the date of this prospectus, (ii) for the period commencing on the Uber First Lock-Up Expiration Date and ending on the date that is eighteen months after the date of this prospectus, more than 25% of the Uber Shares in the aggregate, and (iii) for the period commencing on the Uber Second Lock-Up Expiration Date and ending on the date that is two years after the date of this prospectus, more than 50% of the Uber Shares in the aggregate. See the section titled "Certain Relationships and Related-Party Transactions—Integration Agreement—Uber Lock-Up" for additional information.

**Registration Rights**

We have granted Form S-1 demand registration rights, Form S-3 demand registration rights and piggyback registration rights to certain of our stockholders holding up to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our 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 their registration, except for shares purchased by affiliates. See the section titled "Description of Securities—Registration Rights" for additional information.

**Equity Incentive Plans**

We intend to file with the SEC one or more registration statements on Form S-8 under the Securities Act to register all of the shares of our common stock issuable or issuable and reserved for issuance under the 2017 Plan, the 2026 Plan and ESPP. Shares covered by such registration statement will be eligible for sale in the public market, subject to the Rule 144 limitations, vesting restrictions, and the lock-up agreements described above, if applicable.

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**MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS**

The following discussion is a summary of the material U.S. federal income tax consequences to Non-U.S. Holders (as defined below) of the purchase, ownership and disposition of our common stock issued pursuant to this offering, but does not purport to be a complete analysis of all potential tax effects. The effects of other U.S. federal tax laws, such as estate and gift tax laws, and any applicable state, local or non-U.S. tax laws are not discussed. This discussion is based on the U.S. Internal Revenue Code of 1986, as amended (the "Code"), Treasury Regulations promulgated thereunder, judicial decisions, and published rulings and administrative pronouncements of the U.S. Internal Revenue Service (the "IRS"), in each case in effect as of the date hereof. These authorities may change or be subject to differing interpretations. Any such change or differing interpretation may be applied retroactively in a manner that could adversely affect a Non-U.S. Holder. We have not sought and will not seek any rulings from the IRS regarding the matters discussed below. There can be no assurance the IRS or a court will not take a contrary position to that discussed below regarding the tax consequences of the purchase, ownership and disposition of our common stock.

This discussion is limited to Non-U.S. Holders that hold our common stock as a "capital asset" within the meaning of Section 1221 of the Code (generally, property held for investment). This discussion does not address all U.S. federal income tax consequences relevant to a Non-U.S. Holder's particular circumstances, including the impact of the Medicare contribution tax on net investment income and the alternative minimum tax. In addition, it does not address consequences relevant to Non-U.S. Holders subject to special rules, including, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• U.S. expatriates and former citizens or long-term residents of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons holding our common stock as part of a hedge, straddle or other risk reduction strategy or as part of a conversion transaction or other integrated investment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• banks, insurance companies, and other financial institutions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• brokers, dealers or traders in securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "controlled foreign corporations," "passive foreign investment companies" and corporations that accumulate earnings to avoid U.S. federal income tax;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• partnerships or other entities or arrangements treated as partnerships for U.S. federal income tax purposes (and investors therein);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• tax-exempt organizations or governmental organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons deemed to sell our common stock under the constructive sale provisions of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons who hold or receive our common stock pursuant to the exercise of any employee stock option or otherwise as compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• tax-qualified retirement plans; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "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.

If an entity treated as a partnership for U.S. federal income tax purposes holds our common stock, the tax treatment of a partner in the partnership will depend on the status of the partner, the activities of the partnership and certain determinations made at the partner level. Accordingly, partnerships holding our common stock and the partners in such partnerships should consult their tax advisors regarding the U.S. federal income tax consequences to them.

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**THIS DISCUSSION IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TAX ADVICE. INVESTORS SHOULD CONSULT THEIR TAX ADVISORS WITH RESPECT TO THE APPLICATION OF THE U.S. FEDERAL INCOME TAX LAWS TO THEIR PARTICULAR SITUATIONS AS WELL AS ANY TAX CONSEQUENCES OF THE PURCHASE, OWNERSHIP AND DISPOSITION OF OUR COMMON STOCK ARISING UNDER THE U.S. FEDERAL ESTATE OR GIFT TAX LAWS OR UNDER THE LAWS OF ANY STATE, LOCAL OR NON-U.S. TAXING JURISDICTION OR UNDER ANY APPLICABLE INCOME TAX TREATY.**

**Definition of a Non-U.S. Holder**

For purposes of this discussion, a "Non-U.S. Holder" is any beneficial owner of our common stock that is neither a "U.S. person" nor an entity treated as a partnership for U.S. federal income tax purposes. A U.S. person is any person that, for U.S. federal income tax purposes, is or is treated as any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an individual who is a citizen or resident of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a corporation created or organized under the laws of the United States, any state thereof or the District of Columbia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an estate, the income of which is subject to U.S. federal income tax regardless of its source; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a trust that (i) is subject to the primary supervision of a U.S. court and all substantial decisions of which are subject to the control of one or more "United States persons" (within the meaning of Section 7701(a)(30) of the Code), or (ii) has a valid election in effect to be treated as a United States person for U.S. federal income tax purposes.

**Distributions**

As described in the section titled "Dividend Policy," we do not anticipate declaring or paying any cash dividends in the foreseeable future. However, if we do make distributions of cash or property on our common stock, such distributions will constitute dividends for U.S. federal income tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles. Amounts not treated as dividends for U.S. federal income tax purposes will constitute a return of capital and first be applied against and reduce a Non-U.S. Holder's adjusted tax basis in its common stock, but not below zero. Any excess will be treated as capital gain and will be treated as described under the subsection titled "—Sale or Other Taxable Disposition" below.

Subject to the discussion below regarding effectively connected income, dividends paid to a Non-U.S. Holder will be subject to U.S. federal withholding tax at a rate of 30% of the gross amount of the dividends (or such lower rate specified by an applicable income tax treaty, provided the Non-U.S. Holder furnishes a valid IRS Form W-8BEN or W-8BEN-E (or other applicable documentation) certifying qualification for the lower treaty rate). 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. Non-U.S. Holders should consult their tax advisors regarding their entitlement to benefits under any applicable tax treaties.

If dividends paid to a Non-U.S. Holder are effectively connected with the Non-U.S. Holder's conduct of a trade or business within the United States (and, if required by an applicable income tax treaty, the Non-U.S. Holder maintains a permanent establishment in the United States to which such dividends are attributable), the Non-U.S. Holder will be exempt from the U.S. federal withholding tax described above. To claim the exemption, the Non-U.S. Holder must furnish to the applicable withholding agent a valid IRS Form W-8ECI, certifying that the dividends are effectively connected with the Non-U.S. Holder's conduct of a trade or business within the United States.

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Any 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 Non-U.S. Holder that is a corporation also may be subject to a branch profits tax at a rate of 30% (or such lower rate specified by an applicable income tax treaty) on such effectively connected dividends, as adjusted for certain items. Non-U.S. Holders should consult their tax advisors regarding any applicable tax treaties that may provide for different rules.

**Sale or Other Taxable Disposition**

A Non-U.S. Holder will not be subject to U.S. federal income tax on any gain realized upon the sale or other taxable disposition of our common stock unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the gain is effectively connected with the Non-U.S. Holder's conduct of a trade or business within the United States (and, if required by an applicable income tax treaty, the Non-U.S. Holder maintains a permanent establishment in the United States to which such gain is attributable);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Non-U.S. Holder is a nonresident alien individual present in the United States for 183 days or more during the taxable year of the disposition and certain other requirements are met; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our common stock constitutes a U.S. real property interest ("USRPI") by reason of our status as a U.S. real property holding corporation ("USRPHC") for U.S. federal income tax purposes.

Gain described in the first bullet point above generally will be subject to U.S. federal income tax on a net income basis at the regular rates applicable to U.S. persons. A Non-U.S. Holder that is a corporation also may be subject to a branch profits tax at a rate of 30% (or such lower rate specified by an applicable income tax treaty) on such effectively connected gain, as adjusted for certain items.

A Non-U.S. Holder described in the second bullet point above will be subject to U.S. federal income tax at a rate of 30% (or such lower rate specified by an applicable income tax treaty) on gain realized upon the sale or other taxable disposition of our common stock, which may be offset by certain U.S. source capital losses of the Non-U.S. Holder (even though the individual is not considered a resident of the United States), provided the Non-U.S. Holder has timely filed U.S. federal income tax returns with respect to such losses.

With respect to the third bullet point above, we believe we currently are not, and do not anticipate becoming, a USRPHC. Because the determination of whether we are a USRPHC depends, however, on the fair market value of our USRPIs relative to the fair market value of our non-U.S. real property interests and our other business assets, there can be no assurance we currently are not a USRPHC or will not become one in the future. Even if we are or were to become a USRPHC, gain arising from the sale or other taxable disposition of our common stock by a Non-U.S. Holder will not be subject to U.S. federal income tax if our common stock is "regularly traded," as defined by applicable Treasury Regulations, on an established securities market, and such Non-U.S. Holder owned, actually and constructively, 5% or less of our common stock throughout the shorter of the five-year period ending on the date of the sale or other taxable disposition or the Non-U.S. Holder's holding period.

Non-U.S. Holders should consult their tax advisors regarding any applicable tax treaties that may provide for different rules.

**Information Reporting and Backup Withholding**

Payments of dividends on our common stock will not be subject to backup withholding, provided the Non-U.S. Holder certifies its non-U.S. status, such as by furnishing a valid IRS Form W-8BEN, W-8BEN-E or W-8ECI, or otherwise establishes an exemption. However, information returns are required to be filed with the IRS in connection with any distributions on our common stock paid to the Non-U.S. Holder, regardless of whether such distributions constitute dividends or whether any tax was actually withheld. In addition, proceeds of the sale or other taxable disposition of our common stock within the United States or conducted through certain U.S.-related brokers generally will not be subject to backup withholding or

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information reporting if the applicable withholding agent receives the certification described above or the Non-U.S. Holder otherwise establishes an exemption. Proceeds of a disposition of our common stock conducted through a non-U.S. office of a non-U.S. broker that does not have certain enumerated relationships with the United States generally will not be subject to backup withholding or information reporting.

Copies of information returns that are filed with the IRS may also be made available under the provisions of an applicable treaty or agreement to the tax authorities of the country in which the Non-U.S. Holder resides or is established.

Backup withholding is not an additional tax. Any amounts withheld under the backup withholding rules may be allowed as a refund or a credit against a Non-U.S. Holder's U.S. federal income tax liability, provided the required information is timely furnished to the IRS.

**Additional Withholding Tax on Payments Made to Foreign Accounts**

Withholding taxes may be imposed under Sections 1471 to 1474 of the Code (such Sections commonly referred to as the Foreign Account Tax Compliance Act ("FATCA")) on certain types of payments 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, or (subject to the proposed Treasury Regulations discussed below) gross proceeds from the sale or other disposition of, our 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 undertakes 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. If the payee is a foreign financial institution and is subject to the diligence and reporting 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% 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.

Under applicable Treasury Regulations and administrative guidance, withholding under FATCA generally applies to payments of dividends on our common stock. While withholding under FATCA would have applied also to payments of gross proceeds from the sale or other disposition of our common stock beginning on January 1, 2019, proposed Treasury Regulations eliminate FATCA withholding on payments of gross proceeds entirely. Taxpayers generally may rely on these proposed Treasury Regulations until final Treasury Regulations are issued.

Prospective investors should consult their tax advisors regarding the potential application of withholding under FATCA to their investment in our common stock.

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**UNDERWRITING**

We and the underwriters named below have entered into an underwriting agreement with respect to the shares being offered. Subject to certain conditions, each underwriter has severally agreed to purchase the number of shares indicated in the following table. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the representatives of the underwriters.

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| | |
|:---|:---|
| **Underwriters** | **Number of Shares** |
| Goldman Sachs & Co. LLC |  |
| J.P. Morgan Securities LLC |  |
| Jefferies LLC |  |
| Evercore Group L.L.C. |  |
| Citizens JMP Securities, LLC |  |
| KeyBanc Capital Markets Inc. |  |
| Needham & Company, LLC |  |
| William Blair & Company, L.L.C. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total |  |

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The underwriters are committed to take and pay for all of the shares being offered, if any are taken, other than the shares covered by the option described below unless and until this option is exercised.

We have granted the underwriters an option for a period of 30 days from the date of this prospectus to purchase up to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; additional shares of our common stock from us at the initial public offering price less the underwriting discounts and commissions to cover over-allotments. If any shares are purchased pursuant to this over-allotment option, the underwriters will severally purchase shares in approximately the same proportion as set forth in the table above.

The following table shows the per share and total underwriting discounts and commissions to be paid to the underwriters by us. Such amounts are shown assuming both no exercise and full exercise of the underwriters' option to purchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; additional shares from us.

**Paid by Us**

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| | | |
|:---|:---|:---|
|  | **No Exercise**  | **Full Exercise** |
| Per Share | $| $|
| Total | $| $|

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Shares sold by the underwriters to the public will initially be offered at the initial public offering price set forth on the cover page of this prospectus. Any shares sold by the underwriters to securities dealers may be sold at a discount of up to $&nbsp;&nbsp;&nbsp;&nbsp; per share from the initial public offering price. After the initial offering of the shares, the representatives may change the offering price and the other selling terms. The offering of the shares by the underwriters is subject to receipt and acceptance and subject to the underwriters' right to reject any order in whole or in part.

We and all of our directors and executive officers and certain other record holders that together represent approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; % of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to lock-up agreements with the underwriters agreeing that, subject to certain exceptions, without the prior written consent of Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, on behalf of the underwriters, we and they will not, in accordance with the terms of such agreements, during the Lock-Up Period (i) offer, sell, contract to sell, pledge, grant any option, right or warrant to purchase, purchase any option or contract to sell, lend or otherwise transfer or dispose of any Lock-Up Securities, including

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without limitation any such Lock-Up Securities now owned or hereafter acquired by the lock-up party, (ii) engage in any hedging or other transaction or arrangement (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) which is designed to or which reasonably could be expected to lead to or result in a sale, loan, pledge or other disposition (whether by the lock-up party or someone other than the lock-up party), or transfer of any of the 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 common stock or other securities, in cash or otherwise, (iii) make any demand for or exercise any right with respect to the registration of any Lock-Up Securities or (iv) otherwise publicly announce any intention to engage in or cause any action, activity, transaction or arrangement described in clause (i), (ii) or (iii) above.

Furthermore, (1) an additional approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; % of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to the market standoff provisions in our amended and restated investors' rights agreement or substantially similar market standoff provisions in other agreements, in which such holders agreed to not (i) 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, or (ii) 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 (i) or (ii) above is to be settled by delivery of common stock or other securities, in cash, or otherwise; and (2) an additional approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; % of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to restrictions contained in market standoff agreements with us which include restrictions on the sale, transfer, or other disposition of shares. The forms and specific restrictive provisions within these market standoff provisions vary between 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 will prohibit 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 common stock.

As a result of the foregoing, substantially all of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to a lock-up agreement or market standoff provisions during the Lock-Up 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 Lock-Up Period without the prior consent of Goldman Sachs & Co. LLC and 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 signed by our directors, executive officers, and certain other record holders of our securities as described herein.

The restrictions imposed by the lock-up agreements and market standoff provisions are subject to certain exceptions, including with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Transfers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.as one or more bona fide gifts or charitable contributions, or for bona fide estate planning purposes,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.upon death by will, testamentary document or intestate succession,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.to any member of the lock-up party's immediate family or to any trust for the direct or indirect benefit of the lock-up party or the immediate family of the lock-up party or, if the lock-up party is a trust, to a trustor, trustee or beneficiary of the trust or the estate of a beneficiary of such trust,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv.to a partnership, limited liability company, corporation or other entity of which the lock-up party and the immediate family of the lock-up party are the legal and beneficial owner of all of the outstanding equity securities or similar interests,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v.to a nominee or custodian of a person or entity to whom a disposition or transfer would be permissible under clauses (a)(i) through (iv) above,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi.if the lock-up party is a corporation, partnership, limited liability company, trust or other business entity, (A) to another corporation, partnership, limited liability company, trust or other business entity that is an affiliate (as defined in Rule 405 under the Securities Act of 1933, as amended) of the lock-up party, or to any investment fund or other entity which fund or entity is controlled or managed by the lock-up party or affiliates of the lock-up party, or (B) as part of a distribution by the lock-up party to its stockholders, partners, members or other equityholders or to the estate of any such stockholders, partners, members or other equityholders,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vii.by operation of law, such as pursuant to a qualified domestic order, divorce settlement, divorce decree or separation agreement,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;viii.to us from an employee upon death, disability or termination of employment, in each case, of such employee,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ix.if the lock-up party is not an officer or director, in connection with a sale of the lock-up party's shares of common stock acquired (A) from the underwriters in this offering or (B) in open market transactions after the closing date of this offering,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;x.to us in connection with the vesting, settlement or exercise of restricted stock units, shares of restricted stock, options, warrants or other rights to purchase shares of common stock (including, in each case, by way of "net" or "cashless" exercise) that are scheduled to expire or automatically vest during the Lock-Up Period, including any transfer to us for the payment of tax withholdings or remittance payments due as a result of the vesting, settlement or exercise of such restricted stock units, shares of restricted stock, options, warrants or other rights, or in connection with the conversion or exchange of convertible or exchangeable securities, in all such cases pursuant to equity awards granted under a stock incentive plan or other equity award plan or arrangement, or pursuant to the terms of convertible or exchangeable securities, provided that any securities received upon such vesting, settlement, exercise or conversion that are not transferred to cover any such tax obligations shall be subject to the terms of the lock-up agreement or market standoff provision,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;xi.to us in connection with the conversion, exchange or reclassification of our outstanding equity securities into shares of common stock, the conversion of any outstanding convertible notes or convertible promissory notes into shares of common stock, or any reclassification, exchange or conversion of the common stock, provided that any such shares of common stock received upon such conversion, exchange or reclassification shall be subject to the terms of the lock-up agreement or market standoff provision,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;xii.in "sell to cover" or similar open market transactions (including, without limitation, "sell to cover" transactions effected through any written plan meeting the requirements of Rule 10b5-1 under the Exchange Act relating to the transfer, sale or other disposition of the lock-up party's Lock-Up Securities) during the Lock-Up Period to satisfy tax withholding obligations as a result of the exercise, vesting and/or settlement of equity awards (including options and RSUs) that are scheduled to expire or automatically vest during the Lock-Up Period (other than RSUs that vest and settle immediately upon the completion of this offering), provided that any securities received

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upon such vesting, settlement or exercise that are not transferred to cover any such tax obligations shall be subject to the terms of the lock-up agreement or market standoff provision, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;xiii.to the underwriters pursuant to the underwriting agreement.

provided that (A) in the case of clauses (a)(i), (ii), (iii), (iv), (v), (vi) and (xi) above, such transfer or distribution shall not involve a disposition for value, (B) in the case of clauses (a)(i), (ii), (iii), (iv), (v), (vi) and (vii) above, it shall be a condition to the transfer or distribution that the donee, devisee, transferee or distributee, as the case may be, shall sign and deliver a lock-up agreement to the underwriters, (C) in the case of clauses (a)(iii), (iv), (v), (vi) and (ix) above, no filing by any party (including, without limitation, any donor, donee, devisee, transferor, transferee, distributor or distributee) under the Exchange Act or other public filing, report or announcement reporting a reduction in beneficial ownership of Lock-Up Securities shall be required or shall be voluntarily made in connection with such transfer or distribution (other than a filing on Schedule 13D, 13F or 13G), and (D) in the case of clauses (a)(i), (ii), (vii), (viii), (x), (xi), and (xii) above, no filing under the Exchange Act or other public filing, report or announcement shall be voluntarily made, and if any such filing, report or announcement shall be legally required during the Lock-Up Period, such filing, report or announcement shall clearly indicate in the footnotes thereto the circumstances of such transfer or distribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)enter into a written plan meeting the requirements of Rule 10b5-1 under the Exchange Act relating to the transfer, sale or other disposition of shares of common stock, if then permitted by us, provided that none of the securities subject to such plan may be transferred, sold or otherwise disposed of until after the expiration of the Lock-Up Period (except to the extent otherwise allowed pursuant to the lock-up agreement or market standoff provision); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)transfer or dispose of shares of common stock pursuant to a bona fide third-party tender offer, merger, consolidation or other similar transaction that is approved by our board of directors and made to all holders of the our capital stock involving a change of control; provided that in the event that such tender offer, merger, consolidation or other similar transaction is not completed, the shares of common stock shall remain subject to the provisions of the lock-up agreement.

The restrictions on issuances by us during the Lock-Up Period are subject to certain exceptions, including with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)the sale of our common stock to the underwriters pursuant to the underwriting agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)the issuance of shares of common stock upon the exercise of options or the settlement of restricted stock units (including any "net" or "cashless" exercise or settlement) outstanding as of, or issued after, the date hereof pursuant to our equity plans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)the issuance shares of common stock upon the conversion or exchange of convertible or exchangeable securities or exercise of warrants (including any "net" or "cashless" exercise) outstanding as of the date hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)the issuance of up to 10% of the outstanding shares of our common stock immediately following the completion of this offering in connection with the acquisition of the securities, business, technology, property or other assets of another person or entity or pursuant to an employee benefit plan assumed by us in connection with such acquisition, and the issuance of any such securities pursuant to any such agreement, or joint ventures, commercial relationships and other strategic transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)our filing of any registration statement on Form S-8 (including any resale registration statement on Form S-8) relating to securities granted or to be granted pursuant to any plan in effect on the date hereof or any assumed benefit plan pursuant to an acquisition or similar strategic transaction; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)facilitating the establishment of a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the transfer of shares of our common stock, provided that such plan does not provide for the transfer of shares of our common stock during the Lock-up Period (except as otherwise permitted under the exceptions described in the lock-up agreements);

provided in the case of clauses (1)-(4) above, each recipient of such securities shall deliver a lock-up agreement to the underwriters for the remainder of the Lock-Up Period.

Prior to this offering, there has been no public market for the shares of our common stock. The initial public offering price has been negotiated among us and the representatives. Among the factors to be considered in determining the initial public offering price of the shares, in addition to prevailing market conditions, will be our historical performance, estimates of our business potential and earnings prospects, an assessment of our management and the consideration of the above factors in relation to market valuation of companies in related businesses.

We have applied to list our common stock on Nasdaq under the symbol "LIME."

The underwriters may also impose a penalty bid. This occurs when a particular underwriter repays to the underwriters a portion of the underwriting discount received by it because the representatives have repurchased shares sold by or for the account of such underwriter in stabilizing or short covering transactions.

Purchases to cover a short position and stabilizing transactions, as well as other purchases by the underwriters for their own accounts, may have the effect of preventing or retarding a decline in the market price of our common stock, and together with the imposition of the penalty bid, may stabilize, maintain or otherwise affect the market price of our common stock. As a result, the price of our common stock may be higher than the price that otherwise might exist in the open market. The underwriters are not required to engage in these activities and may end any of these activities at any time. These transactions may be effected on Nasdaq, in the over-the-counter market or otherwise.

We estimate that the total expenses of the offering, excluding underwriting discounts and commissions, will be approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . We have agreed to reimburse the underwriters for certain of their expenses relating to the clearance of this offering with the Financial Industry Regulatory Authority in an amount not to exceed $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .

We have agreed to indemnify the several underwriters against certain liabilities, including liabilities under the Securities Act of 1933.

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The underwriters and their respective affiliates are full service financial institutions engaged in various activities, which may include sales and trading, commercial and investment banking, lending, advisory, investment management, investment research, principal investment, hedging, market-making, brokerage and other financial and non-financial activities and services. Certain of the underwriters and their respective affiliates have provided, and may in the future provide, a variety of these services to us and to persons and entities with relationships with us, for which they received or will receive customary fees and expenses.

In the ordinary course of their various business activities, the underwriters and their respective affiliates, officers, directors and employees may purchase, sell or hold a broad array of investments and actively trade securities, derivatives, loans, commodities, currencies, credit default swaps and other financial instruments for their own account and for the accounts of their customers, and such investment and trading activities may involve or relate to our assets, securities and/or instruments (directly, as collateral securing other obligations or otherwise) and/or persons and entities with relationships with us. The underwriters and their respective affiliates may also communicate independent investment recommendations, market color or trading ideas and/or publish or express independent research views in respect of such assets, securities or instruments and may at any time hold, or recommend to clients that they should acquire, long and/or short positions in such assets, securities and instruments.

The underwriters have informed us that they do not intend sales to discretionary accounts to exceed 5% of the total number of shares of common stock offered by them.

**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 of common stock 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)to any legal entity which is a qualified investor as defined under Article 2 of the Prospectus Regulation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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 joint book-running managers for any such offer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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 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 offering 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 joint book-running managers has 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 except that the shares may be offered to the public in the United Kingdom at any time:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)where (i) the offer is conditional on the admission of the shares to trading on the London Stock Exchange plc's main market (in reliance on the exception in paragraph 6(a) of Schedule 1 of the POATR) or (ii) the shares being offered are at the time of the offer already admitted to trading on London Stock Exchange plc's main market (in reliance on the exception in paragraph 6(b) of Schedule 1 of the POATR);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)to any "qualified investor" as defined in paragraph 15 of Schedule 1 of the POATR;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)to fewer than 150 persons (other than qualified investors as defined in paragraph 15 of Schedule 1 of the POATR), subject to obtaining the prior consent of the underwriters for any such offer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)in any other circumstances falling within Part 1 of Schedule 1 of the POATR.

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 to any person which presents sufficient information on: (a) the shares to be offered; and (b) the terms on which they are to be offered, to enable an investor to decide to buy or subscribe for the shares and the expression "POATR" means the Public Offers and Admissions to Trading Regulations 2024.

This prospectus is only being distributed to and is only directed at: (A) persons who are outside the United Kingdom, or (B) qualified investors who are also (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), or (ii) high-net-worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire the shares will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this prospectus or any of its contents.

**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.

------

**Notice to Prospective Investors in Hong Kong** 

Our shares of common stock have not been offered or sold and will not be offered or sold in Hong Kong, by means of any document, other than (i) 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 (ii) 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 our common stock 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 of our common stock which are or are intended to 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, this prospectus and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of our shares of common stock may not be circulated or distributed, nor may our shares of common stock be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (1) to an institutional investor (as defined under Section 4A of the Securities and Futures Act, Chapter 289 of Singapore (the "SFA")) under Section 274 of the SFA, (2) 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 (3) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA, in each case subject to conditions set forth in the SFA.

Where our shares of common stock are subscribed or purchased under Section 275 of the SFA by a relevant person which is 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, the securities (as defined in Section 239(1) of the SFA) of that corporation shall not be transferable for six months after that corporation has acquired our shares under Section 275 of the SFA except: (1) to an institutional investor under Section 274 of the SFA or to a relevant person (as defined in Section 275(2) of the SFA), (2) where such transfer arises from an offer in that corporation's securities pursuant to Section 275(1A) of the SFA, (3) where no consideration is or will be given for the transfer, (4) where the transfer is by operation of law, (5) as specified in Section 276(7) of the SFA or (6) as specified in Regulation 32 of the Securities and Futures (Offers of Investments) (Shares and Debentures) Regulations 2005 of Singapore ("Regulation 32").

Where our shares of common stock are subscribed or purchased under Section 275 of the SFA by a relevant person which is a trust (where the trustee is not an accredited investor (as defined in Section 4A of the SFA)) whose sole purpose is to hold investments and each beneficiary of the trust is an accredited investor, the beneficiaries' rights and interest (howsoever described) in that trust shall not be transferable for six months after that trust has acquired our shares under Section 275 of the SFA except: (1) to an institutional investor under Section 274 of the SFA or to a relevant person (as defined in Section 275(2) of the SFA), (2) where such transfer arises from an offer that is made on terms that such rights or interest are acquired at a consideration of not less than S$200,000 (or its equivalent in a foreign currency) for each transaction (whether such amount is to be paid for in cash or by exchange of securities or other assets), (3) where no consideration is or will be given for the transfer, (4) where the transfer is by operation of law, (5) as specified in Section 276(7) of the SFA or (6) as specified in Regulation 32.

------

Solely for the purposes of our obligations pursuant to Section 309B of the SFA, we have determined, and hereby notify all relevant persons (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018 ("CMP Regulations")) that our shares of common stock are "prescribed capital markets products" (as defined in the CMP Regulations) 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 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.

------

**LEGAL MATTERS**

The validity of the shares of common stock offered hereby will be passed upon for us by Latham & Watkins LLP, Redwood City, California. Davis Polk & Wardwell LLP, Redwood City, California, is acting as counsel for the underwriters in connection with certain legal matters related to this offering.

**EXPERTS**

The consolidated financial statements of Neutron Holdings, Inc. as of December 31, 2024 and 2025, and for each of the years in the three-year period ended December 31, 2025 have been included herein in reliance upon the report of KPMG LLP, independent registered public accounting firm, appearing elsewhere herein, and upon the authority of said firm as experts in accounting and auditing. The audit report covering the December 31, 2025 consolidated financial statements contains an explanatory paragraph that states that the Company's debt payments due within one year after the date that the consolidated financial statements were issued and the uncertainty regarding its ability to make those payments or refinance the debt raises substantial doubt about the entity's ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of that uncertainty.

**WHERE YOU CAN FIND ADDITIONAL INFORMATION**

We have filed with the SEC a registration statement on Form S-1, including exhibits and schedules, under the Securities Act, with respect to the shares of common stock being offered by this prospectus. This prospectus, which constitutes part of the registration statement, does not contain all of the information in the registration statement and its exhibits. For further information with respect to us and our common stock, we refer you to the registration statement and its exhibits. Statements contained in this prospectus as to the contents of any contract or any other document referred to are not necessarily complete, and in each instance, we refer you to the copy of the contract or other document filed as an exhibit to the registration statement. Each of these statements is qualified in all respects by this reference.

You may read our SEC filings, including this registration statement, over the Internet at the SEC's website at *www.sec.gov*. Upon the completion of this offering, we will be subject to the information reporting requirements of the Exchange Act and we will file reports, proxy statements, and other information with the SEC. These reports, proxy statements, and other information will be available for review at the SEC's website referred to above. We also maintain a website at *www.li.me*, at which, following the completion of this offering, you may access these materials free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. Information contained on, or that can be accessed through, our website does not constitute part of this prospectus or the registration statement of which it forms a part, and the inclusion of our website address in this prospectus is an inactive textual reference only.

------

**INDEX TO CONSOLIDATED FINANCIAL STATEMENTS**

---

| | |
|:---|:---|
| | **Page** |
| <u>[Report of Independent Registered Public Accounting Firm](#i2daaa9faa0b24be68f6320125a1b1051_85)</u> | <u>[F-2](#i2daaa9faa0b24be68f6320125a1b1051_85)</u> |
| <u>[Consolidated Balance Sheets](#i2daaa9faa0b24be68f6320125a1b1051_98)</u> | <u>[F-3](#i2daaa9faa0b24be68f6320125a1b1051_98)</u> |
| <u>[Consolidated Statements of Operations](#i2daaa9faa0b24be68f6320125a1b1051_103)</u> | <u>[F-4](#i2daaa9faa0b24be68f6320125a1b1051_103)</u> |
| <u>[Consolidated Statements of Comprehensive Loss](#i2daaa9faa0b24be68f6320125a1b1051_108)</u> | <u>[F-5](#i2daaa9faa0b24be68f6320125a1b1051_108)</u> |
| <u>[Consolidated Statements of Convertible Preferred Stock and Stockholders' Deficit](#i2daaa9faa0b24be68f6320125a1b1051_113)</u> | <u>[F-6](#i2daaa9faa0b24be68f6320125a1b1051_113)</u> |
| <u>[Consolidated Statements of Cash Flows](#i2daaa9faa0b24be68f6320125a1b1051_120)</u> | <u>[F-7](#i2daaa9faa0b24be68f6320125a1b1051_120)</u> |
| <u>[Notes to Consolidated Financial Statements:](#i2daaa9faa0b24be68f6320125a1b1051_125)</u> | <u>[F-9](#i2daaa9faa0b24be68f6320125a1b1051_125)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 1. Description of Business and Summary of Significant Accounting Policies](#i2daaa9faa0b24be68f6320125a1b1051_132)</u> | <u>[F-9](#i2daaa9faa0b24be68f6320125a1b1051_132)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 2. Fair Value Measurements](#i2daaa9faa0b24be68f6320125a1b1051_159)</u> | <u>[F-20](#i2daaa9faa0b24be68f6320125a1b1051_159)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 3. Prepaid Expenses and Other Current Assets](#i2daaa9faa0b24be68f6320125a1b1051_168)</u> | <u>[F-21](#i2daaa9faa0b24be68f6320125a1b1051_168)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 4. Property and Equipment, Net](#i2daaa9faa0b24be68f6320125a1b1051_172)</u> | <u>[F-22](#i2daaa9faa0b24be68f6320125a1b1051_172)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 5. Accrued Liabilities](#i2daaa9faa0b24be68f6320125a1b1051_2199023260516)</u> | <u>[F-23](#i2daaa9faa0b24be68f6320125a1b1051_2199023260516)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 6. Other Long-term Liabilities](#i2daaa9faa0b24be68f6320125a1b1051_186)</u> | <u>[F-23](#i2daaa9faa0b24be68f6320125a1b1051_186)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 7. Leases](#i2daaa9faa0b24be68f6320125a1b1051_194)</u> | <u>[F-23](#i2daaa9faa0b24be68f6320125a1b1051_194)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 8. Commitments and Contingencies](#i2daaa9faa0b24be68f6320125a1b1051_200)</u> | <u>[F-24](#i2daaa9faa0b24be68f6320125a1b1051_200)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 9. Convertible Notes and Term Loan](#i2daaa9faa0b24be68f6320125a1b1051_206)</u> | <u>[F-26](#i2daaa9faa0b24be68f6320125a1b1051_206)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 10. Convertible Preferred Stock](#i2daaa9faa0b24be68f6320125a1b1051_212)</u> | <u>[F-28](#i2daaa9faa0b24be68f6320125a1b1051_212)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 11. Stock-Based Compensation](#i2daaa9faa0b24be68f6320125a1b1051_218)</u> | <u>[F-30](#i2daaa9faa0b24be68f6320125a1b1051_218)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 12. Warrants](#i2daaa9faa0b24be68f6320125a1b1051_226)</u> | <u>[F-33](#i2daaa9faa0b24be68f6320125a1b1051_226)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 13. Other Expense, Net](#i2daaa9faa0b24be68f6320125a1b1051_232)</u> | <u>[F-33](#i2daaa9faa0b24be68f6320125a1b1051_232)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 14. Income Taxes](#i2daaa9faa0b24be68f6320125a1b1051_238)</u> | <u>[F-33](#i2daaa9faa0b24be68f6320125a1b1051_238)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 15. Related Party Transactions](#i2daaa9faa0b24be68f6320125a1b1051_246)</u> | <u>[F-36](#i2daaa9faa0b24be68f6320125a1b1051_246)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 16. Net Loss Per Share](#i2daaa9faa0b24be68f6320125a1b1051_420)</u> | <u>[F-37](#i2daaa9faa0b24be68f6320125a1b1051_420)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 17. Segments](#i2daaa9faa0b24be68f6320125a1b1051_428)</u> | <u>[F-37](#i2daaa9faa0b24be68f6320125a1b1051_428)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 18. Subsequent Events](#i2daaa9faa0b24be68f6320125a1b1051_252)</u> | <u>[F-39](#i2daaa9faa0b24be68f6320125a1b1051_252)</u> |

---

------

**Report of Independent Registered Public Accounting Firm**

To the Stockholders and Board of Directors

Neutron Holdings, Inc.:

*Opinion on the Consolidated Financial Statements*

We have audited the accompanying consolidated balance sheets of Neutron Holdings, Inc. and subsidiaries (the Company) as of December 31, 2024 and 2025, the related consolidated statements of operations, comprehensive loss, convertible preferred stock and stockholders' deficit, and cash flows for each of the years in the three-year period ended December 31, 2025, and the related notes (collectively, the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2025, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2025, in conformity with U.S. generally accepted accounting principles.

*Going Concern*

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in <u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_132)</u> to the consolidated financial statements, the Company has significant debt payments due within one year after the date that the consolidated financial statements are issued and faces uncertainty regarding its ability to make those payments or refinance the debt, which raises substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in <u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_132)</u>. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

*Basis for Opinion*

These consolidated financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these consolidated 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. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the consolidated 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 consolidated 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 consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have served as the Company's auditor since 2020.

San Francisco, California

March 19, 2026, except for Notes 17 and 18, as to which the date is May 7, 2026.

------

**NEUTRON HOLDINGS, INC.**

**CONSOLIDATED BALANCE SHEETS**

**(in thousands, except share and per share amounts)**

---

| | | |
|:---|:---|:---|
| | **As of December 31,** | **As of December 31,** |
| | **2024** | **2025** |
| **Assets** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $242647 | $339825 |
| &nbsp;&nbsp;&nbsp;Short-term restricted cash | 57228 | 69470 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 7011 | 8145 |
| &nbsp;&nbsp;&nbsp;Deposits | 1536 | 225 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 58007 | 69175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 366429 | 486840 |
| Property and equipment, net | 261289 | 254517 |
| Long-term restricted cash | 457 | 6006 |
| Operating lease right-of-use assets | 30227 | 29952 |
| Other long-term assets | 19587 | 16972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $677989 | $794287 |
| **Liabilities, Convertible Preferred Stock and Stockholders' Deficit** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $6294 | 8211 |
| &nbsp;&nbsp;&nbsp;Accrued liabilities | 87101 | 82061 |
| &nbsp;&nbsp;&nbsp;Accrued compensation | 18708 | 21245 |
| &nbsp;&nbsp;&nbsp;Accrued taxes | 18318 | 25559 |
| &nbsp;&nbsp;&nbsp;Operating lease liabilities, current | 13928 | 10783 |
| &nbsp;&nbsp;&nbsp;Contract liabilities | 8142 | 6301 |
| &nbsp;&nbsp;&nbsp;Term loan, current |  | 113866 |
| &nbsp;&nbsp;&nbsp;2021 Notes, current |  | 660324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 152491 | 928350 |
| Term loan, non-current | 112354 |  |
| 2020 Notes | 200849 | 207885 |
| 2021 Notes, non-current | 544106 |  |
| Operating lease liabilities, non-current | 18801 | 20033 |
| Other long-term liabilities | 28507 | 45372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1057108 | 1201640 |
| &nbsp;&nbsp;&nbsp;Convertible preferred stock, $0.0001 par value, 14,008,547,900 shares authorized, 4,097,181,008 and 4,647,938,403 shares issued and outstanding as of December 31, 2024 and 2025, respectively, aggregate liquidation preference of $260,970 as of December 31, 2025 | 99652 | 114027 |
| &nbsp;&nbsp;&nbsp;Series 1-C convertible preferred stock warrants | 14320 |  |
| Stockholders' deficit |  |  |
| &nbsp;&nbsp;&nbsp;Common stock, $0.0001 par value, 25,800,000,000 and 27,000,000,000 shares authorized, 6,819,504,324 and 7,290,959,250 shares issued and outstanding as of December 31, 2024 and 2025, respectively | 682 | 729 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in-capital | 214458 | 232977 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (22364) | (9910) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (685867) | (745176) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' deficit | (493091) | (521380) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities, convertible preferred stock and stockholders' deficit | $677989 | 794287 |

---

*The accompanying notes are an integral part of these consolidated financial statements.*

------

**NEUTRON HOLDINGS, INC.**

**CONSOLIDATED STATEMENTS OF OPERATIONS**

**(in thousands, except share and per share amounts)**

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Revenue | $521983 | $686630 | $886719 |
| Cost of revenue | 352778 | 405557 | 541272 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 169205 | 281073 | 345447 |
| Operating expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative | 114183 | 143726 | 169460 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operations and support | 42642 | 48937 | 51636 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 37004 | 41441 | 53950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 193829 | 234104 | 275046 |
| Operating income (loss) | (24624) | 46969 | 70401 |
| Interest expense | (23140) | (20282) | (20626) |
| Other expense, net | (68511) | (56204) | (99005) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (116275) | (29517) | (49230) |
| Provision for income taxes | 6083 | 4396 | 10079 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(122358) | $(33913) | $(59309) |
| Net loss per share attributable to common stockholders, basic and diluted | $(0.02) | $(0.01) | $(0.01) |
| Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders, basic and diluted | 5823152122 | 6104052166 | 6492916777 |

---

*The accompanying notes are an integral part of these consolidated financial statements.*

------

**NEUTRON HOLDINGS, INC.**

**CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS**

**(in thousands)**

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Net loss | $(122358) | $(33913) | $(59309) |
| Other comprehensive income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign currency translation adjustments | 479 | 3561 | 3715 |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of instrument-specific credit risk | 5399 | (10835) | 8739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other comprehensive income (loss) | 5878 | (7274) | 12454 |
| Comprehensive loss | $(116480) | $(41187) | $(46855) |

---

*The accompanying notes are an integral part of these consolidated financial statements.*

------

**NEUTRON HOLDINGS, INC.**

**CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT**

**(in thousands, except share amounts)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Convertible Preferred Stock** | **Convertible Preferred Stock** | **Series 1-C Convertible Preferred Stock Warrants** | **Common Stock** | **Common Stock** | **Additional Paid-In Capital** | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total Stockholders' Deficit** |
| | **Shares** | **Amount** | **Amount** | **Shares** | **Amount** | **Additional Paid-In Capital** | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total Stockholders' Deficit** |
| Balance as of December 31, 2022 | 4097181008 | $99652 | $14320 | 6386370206 | $639 | $181767 | $(20968) | $(529596) | $(368158) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss |  |  |  |  |  |  |  | (122358) | (122358) |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of common stock for options exercised |  |  |  | 182762828 | 18 | 1982 |  |  | 2000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  |  |  |  | 13094 |  |  | 13094 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 5878 |  | 5878 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vesting of early exercised stock options |  |  |  |  |  | 603 |  |  | 603 |
| Balance as of December 31, 2023 | 4097181008 | 99652 | 14320 | 6569133034 | 657 | 197446 | (15090) | (651954) | (468941) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss |  |  |  |  |  |  |  | (33913) | (33913) |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of common stock for options exercised |  |  |  | 250371290 | 25 | 3028 |  |  | 3053 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  |  |  |  | 13768 |  |  | 13768 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive loss |  |  |  |  |  |  | (7274) |  | (7274) |
| &nbsp;&nbsp;&nbsp;&nbsp;Vesting of early exercised stock options |  |  |  |  |  | 216 |  |  | 216 |
| Balance as of December 31, 2024 | 4097181008 | $99652 | $14320 | 6819504324 | $682 | $214458 | $(22364) | $(685867) | $(493091) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss |  | $— | $— |  | $— | $— | $— | $(59309) | $(59309) |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of common stock for options exercised |  | $— | $— | 471454926 | $47 | $6331 | $— | $— | $6378 |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of convertible preferred stock for warrant exercised | 550757395 | $14375 | $(14320) |  | $— | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  | $— | $— |  | $— | $12188 | $— | $— | $12188 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income |  | $— | $— |  | $— | $— | $12454 | $— | $12454 |
| Balance as of December 31, 2025 | 4647938403 | $114027 | $— | 7290959250 | $729 | $232977 | $(9910) | $(745176) | $(521380) |

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*The accompanying notes are an integral part of these consolidated financial statements.*

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**NEUTRON HOLDINGS, INC.**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(in thousands)**

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Cash flows from operating activities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(122358) | $(33913) | $(59309) |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash provided by operating activities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 106340 | 89549 | 124673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 11485 | 11808 | 11198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt discount and debt issuance costs | 1508 | 1741 | 1749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt | 902 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-cash interest expense on convertible notes | 6800 | 6800 | 6800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized foreign currency (gains) losses, net | (5294) | 19320 | (23455) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | (4157) | 1468 | 227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on vehicle asset disposals | 3419 | 1295 | 622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on change in fair value of the 2021 Notes | 77182 | 40950 | 124957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment of right-of-use asset |  | 1583 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net | 3194 | 3759 | 3494 |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 849 | (222) | (594) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | (13667) | (2317) | (2765) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (3247) | 2122 | 2181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued and other liabilities | 18243 | 25010 | 25063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | 81199 | 168953 | 214841 |
| Cash flows from investing activities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of vehicle assets | (65072) | (104529) | (97860) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of non-vehicle assets | (15056) | (17123) | (13193) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used by investing activities | (80128) | (121652) | (111053) |
| Cash flows from financing activities |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from exercises of stock options and other common stock issuances | 2000 | 3053 | 6378 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from exercises of preferred stock warrants |  |  | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from issuance of debt, net | 112689 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments of debt issuance costs | (2225) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Principal repayment on term loans | (105000) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments of fees relating to term loans | (5250) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred offering costs paid |  |  | (4823) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing activities | 2214 | 3053 | 1610 |
| Effect of exchange rate changes on cash and cash equivalents, and restricted cash | 3408 | (9209) | 9571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net increase in cash and cash equivalents, and restricted cash | 6693 | 41145 | 114969 |
| Cash and cash equivalents, and restricted cash, beginning of period | 252494 | 259187 | 300332 |
| Cash and cash equivalents, and restricted cash, end of period | $259187 | $300332 | $415301 |

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**NEUTRON HOLDINGS, INC.**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(in thousands)**

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $244290 | $242647 | $339825 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted cash | 14897 | 57685 | 75476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cash, cash equivalents, and restricted cash | $259187 | $300332 | $415301 |
| Supplemental disclosures of cash flow information |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid for: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes, net of refunds | $7864 | $11226 | $6993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | 9616 | 14273 | 11500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-cash investing and financing activities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unvested early exercise liability | $603 | $216 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment financed by accounts payable and accrued expenses | 6481 | 19328 | 8090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred offering costs not yet paid |  |  | 2852 |

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*The accompanying notes are an integral part of these consolidated financial statements.*

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**NEUTRON HOLDINGS, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**NOTE 1. DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

***Description of Business***

Neutron Holdings, Inc. (the "Company" or "Lime") was incorporated in Delaware on January 3, 2017, and is headquartered in San Francisco, California. Lime is a micromobility company that provides rentals of shared electric scooters ("e-scooters") and electric bicycles ("e-bikes") through its platform (the "Rider App") to be used for short distances in various cities and municipalities around the world.

***Basis of Presentation***

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") and include the accounts of the Company and its majority owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

***Going Concern***

The consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business. As of December 31, 2025, the Company had cash and cash equivalents of approximately $339.8 million. In addition, the Company has principal payments on convertible notes and term loan of approximately $675.8 million due within twelve months of the balance sheet date and it does not currently have sufficient liquidity to repay them. These conditions raise substantial doubt about the Company's ability to continue as a going concern for at least one year from issuance of these consolidated financial statements. The Company's ability to continue as a going concern is dependent upon the consummation of an initial public offering, the ability to obtain necessary financing to meet its obligations, or the ability to obtain acceptable terms upon an amendment of its convertible notes. If additional equity or debt financing is required from outside sources, the Company may not be able to obtain additional liquidity on terms acceptable to it or at all. If the Company is unable to raise additional capital on acceptable terms when needed, its results of operations and financial condition would be materially and adversely affected.

As a result of the above, management has determined that substantial doubt exists about the Company's ability to continue as a going concern through twelve months from the date these financial statements are available to be issued. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

***Use of Estimates***

The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions, which affect the reported amounts in the financial statements and accompanying notes. Management evaluates its estimates and assumptions on an ongoing basis and makes adjustments when facts and circumstances dictate. The most significant estimates include the selection of useful lives of vehicle assets, the determination of the claims reserve, the determination of fair value of the Company's common stock, fair value of financial instruments and the excess and obsolescence reserve on capitalized spare parts. The Company's operations and financial performance means that these estimates may change in future periods, as new events occur, and additional information is obtained. These estimates are based on information available as of the date of these consolidated financial statements; therefore, actual results could differ from estimates.

***Segments***

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 Company's CODM is its

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Chief Executive Officer. The Company's CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company views its operations and manages its business as one operating and reportable segment, which is also a single reporting unit.

***Foreign Currency***

The Company's reporting currency is the U.S. dollar. The functional currency of the Company's foreign subsidiaries is the respective local currency, as it is the monetary unit of account of the principal economic environment in which the foreign subsidiary operates. Foreign currency transaction gains and losses resulting from, or expected to result from, transactions denominated in a currency other than the functional currency are recognized in other expense, net in the consolidated statements of operations. Subsidiary assets and liabilities with non-U.S. dollar functional currencies are translated to the U.S. dollar at the period-end rate, equity items are translated at historical rates, and revenue and expenses are translated at average exchange rates during the period. Cumulative translation adjustments are recorded in accumulated other comprehensive loss in the consolidated balance sheets.

***Cash and Cash Equivalents***

The Company's cash balance consists of bank deposits, institutional money market funds and certificates of deposits. Certain of the Company's bank deposit balances exceed those that are federally insured. To date, the Company has not recognized any losses related to uninsured balances.

The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash equivalents are recorded at cost, which approximates fair value.

***Restricted Cash***

The Company classifies all cash subject to contractual restrictions as restricted cash. The Company's restricted cash primarily consists of: (i) amounts pledged as security for letters of credit or other collateral amounts related to certain supplier purchase agreements, real estate leases, insurance policies and other contractual arrangements; and (ii) amounts that are unavailable for immediate use due to other legal and/or contractual restrictions. Restricted cash is classified as a short-term or long-term asset based on the contractual or estimated term of the remaining restriction at period-end.

***Accounts Receivable, Net***

Accounts receivable, net represents uncollected payments from riders for completed transactions where the payment method is a credit card and includes (a) rider amounts not yet settled with payment service providers ("PSPs") and (b) rider amounts settled by PSPs but not yet remitted to the Company. Funds held at PSPs represent revenue earned but not yet realized as cash.

The Company recognizes an allowance for expected credit losses, determined by considering past history of write-offs, collections, and current credit conditions. As of December 31, 2024 and 2025, no allowance for credit losses was recorded. Amounts written off for the years ended December 31, 2023, 2024, and 2025 were not material.

***Property and Equipment, Net***

Property and equipment, net is stated at cost less accumulated depreciation and amortization and is comprised of two categories: (i) vehicle assets and (ii) non-vehicle assets.

The vehicle assets category includes the Company's fleet of e-scooters, e-bikes, and swappable batteries, as well as costs incurred to bring the vehicles and batteries to the condition and location necessary for their intended use, such as shipping, freight, and various customs duties.

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Prior to January 1, 2025, vehicle assets were depreciated using a usage-based depreciation methodology. The methodology involved the calculation of depreciation expense for each vehicle based on the number of trips taken as a percentage of total trips expected and factored in actual, historical, and other data for different vehicle types. The methodology applied to swappable batteries involved the calculation of depreciation expense for each battery based on the number of trips taken as a percentage of total trips expected and factors in the expected life cycle per manufacturer's specifications, estimated swaps and charge cycles per year and the expected number of years until the battery becomes obsolete.

Effective January 1, 2025, the Company changed its depreciation methodology for vehicle assets from a usage-based method to a straight-line method. The Company determined that the change in depreciation method is a change in accounting estimate affected by a change in accounting principle to be applied prospectively. The change is considered preferable as the straight-line method will more accurately reflect the pattern of economic consumption of vehicle assets and result in improved financial reporting. The Company estimates useful lives of five years for e-scooters and e-bikes and four years for swappable batteries. The effect of the change to the straight-line method resulted in an increase of $14.8 million in depreciation expense and an estimated $11.8 million increase in net loss. The change did not result in an impact on net loss per share attributable to common stockholders, basic and diluted, for the year ended December 31, 2025.

On an annual basis during the fourth quarter, the Company performs a reassessment of the useful lives of its vehicle assets. If deemed necessary, the estimated useful life is then revised and updated on a prospective basis.

For vehicle assets that are classified as permanently decayed and non-operational, the Company accelerates and fully depreciates those vehicle assets in the month this determination is made and expenses any incurred costs associated with their disposal. Permanently decayed vehicle assets are those that have been offline for 90 days and meet other non-operational criteria.

Depreciation and amortization for non-vehicle assets is computed using the straight-line method over the estimated useful lives of the assets, which are as follows:

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| | |
|:---|:---|
| Capitalized internal-use software | 2 years |
| Leasehold improvements | Lesser of estimated useful life or lease term |
| Furniture and fixtures | 3 years |
| Equipment | 2 years |

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***Capitalized Software Development Costs***

The Company capitalizes certain development costs incurred in connection with its internal-use software, developed applications and implementation costs for cloud computing arrangements ("CCA"). The internal-use software capitalized costs are primarily related to Lime's three core systems: the Rider App, an operations app called Lime Supply, and embedded software for vehicle intelligence. The implementation costs for CCA primarily relate to configuring and integrating the enterprise resource planning system, revenue application and vehicle application.

Costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, internal and external costs, if direct and incremental, are capitalized until the internal-use software or CCA is substantially complete and ready for its intended use. Capitalization ceases upon completion of all substantial testing. Maintenance costs and bug fixes are expensed as incurred. The Company also capitalizes costs related to specific upgrades and enhancements to internal-use software and CCA when it is probable the expenditure will result in additional features and functionality.

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Internal-use software is recorded in property and equipment, net and CCA is recorded in prepaid expenses and other current assets and other long-term assets in the consolidated balance sheets, based on the timing of the expected amortization.

Internal-use software is amortized on a straight-line basis over its estimated useful life of two years. CCA implementation costs are amortized on a straight-line basis over the term of the hosting arrangement.

Changes in internal-use software and CCA balances were as follows (in thousands):

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| | | |
|:---|:---|:---|
| | **Internal-use Software** | **CCA** |
| Balance as of January 1, 2023 | $13399 | $7407 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized costs | 13818 | 3293 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization | (12533) | (3200) |
| Balance as of December 31, 2023 | 14684 | 7500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized costs | 16195 | 1838 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization | (14532) | (3762) |
| Balance as of December 31, 2024 | 16347 | 5576 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized costs | 10513 | 399 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization | (14674) | (3495) |
| Balance as of December 31, 2025 | $12186 | $2480 |

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***Leases***

The Company leases warehouses, offices, and operations vehicles and accounts for these leases in accordance with Accounting Standards Codification ("ASC") 842, *Leases* ("ASC 842"). The Company made a policy election not to separate non-lease components from lease components; therefore, the Company accounts for lease and non-lease components as a single lease component. The Company elected the practical expedient to not recognize leases with a term of 12 months or less on the balance sheet.

The Company determines if a contract contains a lease at inception, based on whether it conveys the right to obtain substantially all of the economic benefits from the use of an identified asset and the right to direct the use of an identified asset in exchange for consideration. Right-of-use ("ROU") assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the present value of the future lease payments at the lease commencement date. Certain of the Company's lease arrangements include escalating rent payment provisions, lease renewal or termination options and tenant allowances. The Company includes renewal options in the measurement of lease liabilities only to the extent the option is reasonably certain to be exercised.

The Company currently does not have any finance leases.

***Impairment of Long-Lived Assets***

The Company assesses long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset or asset group may not be recoverable. The carrying amount of a long-lived asset or asset group is not recoverable if it exceeds the sum of the undiscounted future cash flows expected to result from the use and eventual disposition of the asset or asset group. If the carrying amount of the long-lived asset or asset group is not recoverable, the amount of impairment loss is measured as the difference between the carrying value of the asset or asset group and its estimated fair value. The Company also reviews depreciation estimates and methods whenever a long-lived asset (or asset group) is tested for recoverability.

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***Fair Value Option***

The Company elected the fair value option to account for the convertible secured promissory notes issued between October 29, 2021 and November 18, 2021 (the "2021 Notes"). The Company measures the 2021 Notes at fair value with changes in fair value recorded as a component of other expense, net in the consolidated statements of operations and changes in instrument-specific credit risk in the consolidated statements of comprehensive loss.

***Insurance***

The Company utilizes a combination of third-party insurance and retention mechanisms to cover various business and micromobility-related risks, including, but not limited to, general liability, automobile liability, excess liability, workers' compensation, property, cyber liability, and directors' and officers' liability. To comply with certain city and country insurance regulatory requirements for micromobility-related risks, in certain jurisdictions we also obtain rider insurance coverages. Rider insurance coverages, a relatively new insurance product specific to the micromobility industry, may include rider liability for third-party bodily injury and property damage and injury coverage to the rider themselves. Rider insurance coverages and limits vary by vehicle type and jurisdiction and are mostly obtained outside of the United States.

The Company maintains a claims reserve for unpaid losses and loss adjustment expenses for risks retained by the Company through its retention mechanisms. Estimating the number and severity of claims, as well as related judgment or settlement amounts, is inherently complex, subjective, and speculative. The Company employs various predictive modeling and actuarial techniques and makes numerous assumptions based on available historical experience and industry statistics to estimate the claims reserve.

While management believes that the claims reserve amount is adequate, the ultimate liability may be in excess of, or less than, the amount provided. A number of external factors can affect the losses incurred, including but not limited to claim reporting delays, the length of time the claim remains open, increases in healthcare costs, legislative and regulatory developments, judicial developments, the general trend of increasing settlement amounts in litigation, and other unexpected events. As a result, the net amounts that will ultimately be paid to settle the liability and when amounts will be paid may vary from the estimated amounts provided for on the consolidated balance sheets. Claims reserve amounts estimated to be settled within one year are recorded in accrued liabilities, with longer term settlements recorded in other long-term liabilities on the consolidated balance sheets.

***Freestanding Preferred Stock Warrants***

Freestanding warrants to purchase the Company's convertible Series B preferred stock are classified as liabilities in the consolidated balance sheets due to the redeemable nature of the underlying preferred stock. The warrants are subject to remeasurement at each reporting period, and changes in fair value are recognized as a component of other expense, net in the consolidated statements of operations. The Company will continue to remeasure the liability for changes in fair value until the earlier of the exercise or expiration of the warrants or the completion of a liquidation event, including the completion of an initial public offering ("IPO"), at which time all preferred stock warrants will be converted into warrants to purchase common stock and, accordingly, the liability will be reclassified to equity.

Freestanding warrants related to the Company's Series 1-C preferred stock are within the scope of ASC 718, *Compensation-Stock Compensation* ("ASC 718"). The Company recorded compensation expense associated with the satisfaction of the service condition as the services were performed and vesting occurred. The warrants were fully vested as of May 2020. Although these warrants are not mandatorily or currently redeemable, a deemed liquidation event would constitute a redemption event outside the Company's control. As a result of these liquidation features, these warrants have been classified outside of stockholders' deficit and presented as mezzanine equity on the consolidated balance

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sheet as of December 31, 2024. As discussed in Note 12 – Warrants, all warrants related to the Company's Series 1-C preferred stock were exercised during the year ended December 31, 2025.

***Partial Recourse Notes and Early Exercises***

During the year ended December 31, 2020 and prior, the Company issued promissory notes to certain executives and key employees in the aggregate principal amount of $38.6 million, in exchange for the early exercise of 626,304,993 stock options. The promissory notes represent the aggregate exercise price of the early exercised stock options and carry original stated interest rates ranging from 0.41% to 0.45% per annum. The principal amounts and accrued interest are generally due upon the earlier of: (i) maturity dates ranging from the 7th to 10th anniversary of the note's issuance, (ii) any transfer of the shares securing the promissory note or (iii) the completion of an IPO. All promissory notes issued were partially collateralized by the shares issued in exchange for the note on a non-pro rata basis and were considered nonrecourse notes in their entirety. As such, the shares issued are not considered "exercised" for accounting purposes until the notes are repaid and the underlying stock options have vested. Prior to repayment, the nonrecourse notes are not recorded on the consolidated balance sheets since the arrangement is, in substance, a stock option. The shares are included in the legally issued and outstanding shares of common stock on the consolidated balance sheets and in the statements of convertible preferred stock and stockholders' deficit.

As of December 31, 2024 and 2025, the principal amount of $34.5 million and related accrued interest of $2.2 million and $2.6 million, respectively, remained outstanding on promissory notes. As of December 31, 2024 and 2025, there were 571,304,993 shares issued that are pledged as security subject to repayment of the notes. Certain awards with repayment dates of October and November 2025 were extended to January 31, 2026. The financial statement impact of this extension was immaterial as of and for the year ended December 31, 2025.

***Fair Value Measurements***

Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.

Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820, *Fair Value Measurement*, the authoritative guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value as follows:

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| | |
|:---|:---|
| Level 1 | Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. |
| Level 2 | Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are not directly observable but can be corroborated by observable market data. |
| Level 3 | Inputs are unobservable for the asset or liability. |

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The level in the fair value hierarchy within which a fair value measurement in its entirety falls is based on the lowest-level input that is significant to the fair value measurement in its entirety.

***Concentrations of Credit Risk***

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, trade accounts receivable, and supplier purchases.

Significant customers are those which represent more than 10% of the Company's total revenue or gross accounts receivable balance at each balance sheet date. During the years ended December 31, 2023, 2024 and 2025, no customers accounted for 10% or more of total revenue. As of December 31,

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2024 and 2025, the Company had a third-party PSP that accounted for 85.5% and 83.9% of accounts receivable, respectively.

As discussed in Note 15 – Related Party Transactions, the Company has an agreement with Uber which allows riders to access the Company's vehicles through mobile applications distributed by Uber and/or its subsidiaries. Revenue earned through this agreement was approximately 14.1%, 15.8% and 14.3% of total revenue in 2023, 2024 and 2025, respectively. Accounts receivable from Uber was 9.6% and 6.7% of accounts receivable as of December 31, 2024 and 2025, respectively.

Significant vendors are those which represent more than 10% of the Company's total purchases. During the years ended December 31, 2024 and 2025, the Company had no significant vendors.

***Revenue Recognition***

The Company generates revenue from providing seamless, on-demand access to its network of e-scooters and e-bikes through two pricing models: either "Pay-As-You-Go" or LimePass.

*Lease Revenue*

Pay-As-You-Go allows riders to pay for usage based on the duration per session. The single-use rental of the Company's vehicles by riders are considered operating leases pursuant to ASC 842 which the Company is the lessor. The Company has fixed lease payments, in the form of unlock fees that are fixed charges to access the vehicles, and variable lease payments, in the form of per minute usage fees. The Company treats any credit, coupon, or rider incentives as a reduction to the revenue for the ride in the period to which it relates. As the lease term is less than one day, the Company recognizes fixed lease payments (i.e. the unlock fees) and variable lease payments (i.e., usage minus lease incentives), at the time the ride is complete, on the same day the lease commenced.

*Revenue from Contracts with Customers*

The Company also recognizes revenue pursuant to ASC 606, *Revenue from Contracts with Customers*. This primarily relates to LimePass which consists of minute bundles and LimePrime. Minute bundles allow for the purchase of discounted ride minutes, offered at different increments, which can be used across multiple rides for a period of time ranging from 1 to 30 days. LimePrime is a recurring monthly subscription that provides riders with benefits such as free unlocks and extended vehicle reservations.

The services provided by the Company that are based on usage, such as minute bundles, are recognized using an output method, generally as the minutes are used, as this reflects the pattern of transfer for these services.

The services provided by the Company for fixed monthly subscriptions, such as LimePrime, are considered stand-ready performance obligations where riders benefit from the services evenly throughout the service period. Revenue is recognized on a ratable basis over the contractual period of the arrangement beginning when or as control of the promised services is transferred to the customer as this reflects the pattern of transfer for these services.

The Company also estimates the portion of customer rights that will never be redeemed ("breakage") and for which there is no legal obligation to remit the value of the unredeemed balance to the relevant jurisdiction as unclaimed or abandoned property. To the extent the Company has a basis for estimating breakage, the Company will recognize the breakage amounts as revenue, proportionate to the pattern of rights exercised by the customer. However, as the Company does not have a basis for estimating breakage, the Company will recognize breakage revenue when the likelihood of customer redemption, based on historical experience or long periods of inactivity, is remote.

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The Company's revenue contracts do not result in significant obligations associated with returns, refunds or warranties. The Company's payment terms are generally fixed and do not include variable revenues or consideration. LimePass arrangements are paid in advance resulting in a contract liability.

*Disaggregated Revenue*

Total revenues disaggregated between lease revenue and revenue from contracts with customers are follows (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Lease revenue | $448449 | $548230 | $642841 |
| Revenue from contracts with customers | 73534 | 138400 | 243878 |
| Total revenue | $521983 | $686630 | $886719 |

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For both lease revenue and revenue from contracts with customers, the Company excludes all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue producing transaction and collected by the Company from a customer and remitted to governmental authorities. Accordingly, such amounts are not included as a component of revenue or cost of revenue.

***Contract Liabilities***

The Company records a contract liability when the Company receives payments in advance of the performance obligations being satisfied on the Company's contracts. The Company's contract liabilities relate to Lime Cash, where riders preload a balance into the Rider App that can be applied to future Pay-As-You-Go trips. Amounts related to Lime Cash are recognized as lease revenue as redeemed. Lime Cash balances do not expire and amounts may never be redeemed. The Company assesses and recognizes breakage revenue for unredeemed Lime Cash balances if the likelihood of redemption, based on historical experience or long periods of inactivity, is deemed to be remote and if there is no requirement for remitting balances to government agencies under unclaimed property laws. The Company recognized $1.4 million, $1.0 million, and $1.1 million of breakage revenue (included as revenue from contracts with customers) related to unredeemed Lime Cash balances for the years ended December 31, 2023, 2024 and 2025, respectively. The unredeemed Lime Cash balances which become subject to escheatment are reclassified to accrued liabilities until remitted to the respective jurisdictions.

Contract liability balances related to Lime Cash were $6.2 million, and $3.9 million as of December 31, 2024 and 2025, respectively. Substantially all of the contract liability balance as of December 31, 2024 was subsequently recognized as revenue, except balances subject to escheatment, during the year ended December 31, 2025. During the years ended December 31, 2023, 2024, and 2025, the Company reclassified $4.8 million, $3.9 million, and $1.7 million of contract liabilities to accrued liabilities for unredeemed Lime Cash balances subject to escheatment.

The Company also recognizes contract liabilities for other short-term contracts (LimePass) fulfilled within 30 days, which was $2.0 million and $2.4 million as of December 31, 2024 and 2025, respectively.

***Cost of Revenue***

Cost of revenue consists primarily of compensation, employee benefits and stock-based compensation of local operations field personnel associated with the deployment, maintenance and retrieval of vehicles and swapping of batteries in markets, vehicle asset depreciation and disposals, tools and parts, merchant and credit card processing fees, warehouse rent and related facilities costs, certain insurance costs related to the Company's micromobility service, operating permit costs and platform and web hosting server costs.

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***Selling, General and Administrative***

Selling, general and administrative expenses include compensation, employee benefits and stock-based compensation for management, finance, legal, human resources, marketing, government relations, business development, general liability and corporate insurance costs, certain legal-related accruals and settlements and expenses, professional service fees, advertising and marketing, events, public relations, sponsorships, and other general overhead and allocated costs. Advertising costs are expensed as incurred and were $1.0 million, $1.1 million, and $1.9 million for the years ended December 31, 2023, 2024, and 2025, respectively.

***Operations and Support***

Operations and support expenses include compensation, employee benefits and stock-based compensation and other costs for central operations, supply chain, customer service, and trust and safety. Central operations personnel are responsible for the strategy, planning, data analysis and reporting across markets for capital expenditures and labor, warehouse optimization, new business initiatives, and expansion into new markets. Supply chain costs include distribution facility costs related to the centralized purchasing and storage prior to deployment of the Company's e-scooters and e-bikes to its local markets. Customer service costs include third party call-center support and customer support technology costs. Trust and safety personnel are responsible for developing the policies and protocols for the safety programs, monitoring safety trends, and supporting compliance with applicable laws and regulations.

***Research and Development***

Research and development costs are expensed as incurred. Research and development expenses include compensation, employee benefits and stock-based compensation for technology developers and product management employees as well as fees paid to outside consultants, software costs and other allocated costs.

***Stock-Based Compensation***

Stock-based compensation expense is measured and recorded based on the grant-date fair value of the stock-based awards. The fair value of the shares of common stock underlying the stock options and restricted stock units ("RSUs") on the grant date has been determined by the board of directors, as there is no public market for the underlying common stock. The Company recognizes stock-based compensation expense for service-based awards on a straight-line basis over the requisite service period of the individual grant, generally equal to the vesting period. The Company records forfeitures as they occur.

The Company uses the Black-Scholes-Merton option-pricing model ("Black-Scholes model") to determine the fair value of stock option awards. The Black-Scholes model requires the use of objective and subjective assumptions, including the fair value of common stock, expected volatility, risk free interest rate, expected dividend and option's expected term of the underlying stock.

The Company obtained an independent, third-party valuation to determine the fair value of common stock, considering the nature of the Company's business, earning capacity, distribution capacity and other material Company events and general market conditions and outlooks. The expected volatility is based on the historical and implied volatility of similar companies whose stock or option prices are publicly available, after considering the industry, stage of life cycle, size, market capitalization, and financial leverage of the other companies. The risk-free interest rate assumption is based on observed U.S. Treasury yield curve interest rates in effect at the time of grant appropriate for the expected term of the stock options granted. The Company has not paid dividends in the past and does not expect to pay dividends in the foreseeable future. As a result, a zero expected dividend yield is used. Due to the limited amount of option exercises, the Company used the simplified method to compute the expected term for

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options granted to employees which averages the weighted average vesting period and the contractual term on the valuation date.

The Company also grants stock options with performance conditions and market conditions. The Company does not record compensation expense for these options until it is deemed probable that the performance condition will be met. Options with performance and market conditions were immaterial as of December 31, 2024 and 2025.

The Company estimates the fair value of RSUs based on the fair market value of the Company's common stock on the date of grant. RSUs granted during the year ended December 31, 2025 include both a service-based and performance-based liquidity event vesting condition. Compensation cost related to these RSUs must be recognized over the requisite service period using the accelerated attribution method, if it is probable that the performance-based liquidity event vesting condition will be satisfied. The performance-based condition is satisfied upon the consummation of the qualifying liquidity event, which is the earlier of an initial public offering ("IPO"), a direct listing, or a sale event.

***Employee Benefit Plan***

The Company sponsors a qualified 401(k) defined contribution plan covering eligible employees in the United States. There were no employer contributions under this plan for the years ended December 31, 2023, 2024, and 2025. The Company also sponsors retirement plans in many of the countries it operates in outside of the United States. Employer contributions to these plans were $1.1 million, $1.5 million, and $1.7 million for the years ended December 31, 2023, 2024, and 2025, respectively.

***Income Taxes***

The Company utilizes the asset and liability method to account for income taxes, under which deferred tax assets and liabilities arise from the temporary differences between the tax basis of an asset or liability and its reported amount in the consolidated financial statements, as well as from net operating loss and tax credit carryforwards. Deferred tax amounts are determined by using the tax rates expected to be in effect when the taxes will actually be paid, or refunds received, as provided for under currently enacted tax law.

A valuation allowance is recorded for deferred tax assets if it is not more likely than not that some portion or all of the deferred tax assets will be realized. As of December 31, 2024 and 2025, the Company evaluated the realizability of the deferred tax assets considering positive and negative evidence and has recorded a full valuation allowance against certain deferred tax assets as it does not believe it is more likely than not that the deferred tax assets will be realized in future years. The Company monitors the realizability of their deferred tax assets taking into account all relevant factors at each reporting period. If it is determined that deferred tax assets would be realized in the future in excess of their net recorded amount, an adjustment would be made to the deferred tax asset valuation allowance, which would reduce the provision for income taxes.

The Company records uncertain tax positions on the basis of a two-step process which includes (1) determining whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position, and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company reevaluates the uncertain tax positions each quarter based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, effectively settled issues, and new audit activity. Such a change in recognition or measurement could result in the recognition of a tax benefit or an additional charge to the tax provision in the period. The Company classifies accrued interest and penalties associated with uncertain tax positions together with the related liability, and the expenses incurred related to such accruals are included in the provision for income taxes in the consolidated statements of operations.

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***Net Loss Per Share Attributable to Common Stockholders***

The Company follows the two-class method when computing net loss per common share when instruments are issued that meet the definition of participating securities. The two-class method determines net income (loss) per common share and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two-class method requires income (loss) available to common stockholders for the period to be allocated between common stock and participating securities based upon their respective rights to receive dividends as if all income (loss) for the period had been distributed. In a net loss period, losses are only allocated if such participating securities have contractual obligations to fund such losses.

The Company's Series 2 preferred stock and Series 3 preferred stock are participating securities. The holders of the Series 2 preferred stock and Series 3 preferred stock are entitled to dividends in preference to common stockholders on an as-converted basis, if declared by the Company. Such dividends are not cumulative. Any remaining earnings would be distributed among the holders of common stock on a pro-rata basis. These participating securities do not contractually require the holders of such shares to participate in the Company's losses. As such, net losses for the periods presented were not allocated to the Company's participating securities.

Basic net income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. The diluted net income (loss) per share is computed by giving effect to all potentially dilutive securities outstanding for the period using the treasury stock method or the if-converted method based on the nature of such securities. Diluted net income (loss) per share is the same as basic net income (loss) per share in periods when the effects of potentially dilutive shares of common stock are anti-dilutive.

***Deferred Offering Costs***

Deferred offering costs, which consist of direct incremental legal, accounting, consulting and other fees relating to an initial public offering are capitalized. The deferred offering costs will be offset against initial public offering proceeds upon the consummation of the initial public offering. In the event the planned initial public offering is terminated, the deferred offering costs will be expensed. There were no deferred offering costs incurred as of December 31, 2024. As of December 31, 2025, there were $7.7 million of deferred offering costs recorded within prepaid expenses and other current assets on the consolidated balance sheet.

***Recent Accounting Pronouncements***

<u>Recent Accounting Pronouncements Not Yet Adopted</u>

In December 2023, the FASB issued ASU 2023-09, *Income Taxes (Topic 740): Improvements to Income Tax Disclosures*, which improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. This new standard is effective for the Company's annual period beginning January 1, 2026. Upon adoption, the guidance can be applied prospectively or retrospectively. The Company is currently evaluating the impact of the guidance on the consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, *Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses* ("ASU 2024-03"). ASU 2024-03 requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions within the income statement. In January 2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) Clarifying the Effective Date. The amendments in this update may be applied either prospectively or retrospectively, and are effective for fiscal years beginning after December 15, 2026, and interim reporting

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periods within annual reporting periods beginning after December 15, 2027. The Company is evaluating the impact that this guidance will have on its consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU 2025-06, *Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software* ("ASU 2025-06"). ASU 2025-06 modernizes the accounting for costs related to internal-use software in ASC 350-40 to reflect the software development approaches currently used. Specifically, the FASB observed that software is not always developed in a linear manner, which is an underlying tenet of the existing internal-use software capitalization framework. To clarify how the guidance applies to both linear and nonlinear software development, the ASU removes all references to "development stages" from ASC 350-40 and changes the criteria to determine when development cost capitalization should begin. The amendments in this ASU are effective for fiscal years beginning after December 15, 2027, with early adoption permitted. Entities are permitted to apply the ASU on a prospective, retrospective or modified transition approach. The Company is currently evaluating the impact of adopting this new accounting guidance on its consolidated financial statements and related disclosures.

**NOTE 2. FAIR VALUE MEASUREMENTS**

The carrying amounts of certain of the Company's financial instruments, including cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable and accrued expenses, approximate their fair values due to their short-term maturities.

The fair value measurements of financial instruments that are measured at fair value on a recurring basis consisted of the following (in thousands):

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Liabilities |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 Notes | $— | $— | $544106 | $544106 | $— | $— | $660324 | $660324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Liabilities | $— | $— | $544106 | $544106 | $— | $— | $660324 | $660324 |

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The Company did not make any transfers between the levels of the fair value hierarchy during the years ended December 31, 2024 and 2025.

As of December 31, 2024 and 2025, the 2021 Notes total contractual principal and accrued in kind interest amounted to $486.6 million and $525.5 million, respectively, resulting in a difference between the aggregate fair value and the aggregate unpaid balance of $57.5 million and $134.9 million, respectively.

To determine the fair value of the non-convertible component of the 2021 Notes, the Company uses an income approach to estimate the present value under each settlement or conversion scenario and probability-weighted the conclusions according to certain assumptions. A Black-Scholes model was used to estimate the value of the conversion option component under the same scenarios. The Company considered the portion of the total change in fair value that excludes the amount resulting from a change in base market risk to be the result of a change in instrument-specific credit risk. To determine how much of the fair value change should be a result of changes in the market versus changes in the instrument-specific risk, the Company calculated the total change in fair value of the 2021 Notes less changes in fair value of the 2021 Notes arising from changes in the base market risk. The change in fair value resulting from market risks and instrument-specific credit risk are recorded to other expense, net and accumulated other comprehensive loss, respectively.

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A summary of the net changes in the fair value of the 2021 Notes was as follows (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **December 31,** | **December 31,** | **December 31,** |
| | **2023** | **2024** | **2025** |
| Balance, beginning of period | $420538 | $492321 | $544106 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair value loss recognized in other expense, net | 77182 | 40950 | 124957 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair value loss (gain) recognized in other comprehensive (loss) income | (5399) | 10835 | (8739) |
| Balance, end of period | $492321 | $544106 | $660324 |

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The Company issued warrants to purchase shares of the Company's Series B convertible preferred stock which are recognized in other long-term liabilities on the consolidated balance sheets, as the convertible preferred shares underlying the warrants are contingently redeemable for cash. The convertible preferred stock warrants are remeasured to fair value each reporting period based on unobservable Level 3 inputs. The fair value of the warrant and changes in fair value of the warrant for the years ended December 31, 2024 and 2025 were not material.

Certain assets and liabilities are measured at fair value on a nonrecurring basis but are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment or when a new liability is being established that requires fair value measurement. As discussed in Note 7 – Leases, during the year ended December 31, 2024, the Company recognized an impairment loss of $1.6 million related to an operating lease ROU asset at its corporate office space. The Company had no non-recurring fair value measurements during the years ended December 31, 2023 and 2025.

**NOTE 3. PREPAID EXPENSES AND OTHER CURRENT ASSETS**

Prepaid expenses and other current assets consisted of the following (in thousands):

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2024** | **2025** |
| Prepaid expenses | $22530 | $27292 |
| Spare parts, net | 22535 | 20870 |
| Value-added taxes receivable | 7916 | 8953 |
| Other current assets | 5026 | 12060 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $58007 | $69175 |

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**NOTE 4. PROPERTY AND EQUIPMENT, NET**

Property and equipment, net consisted of the following (in thousands):

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2024** | **2025** |
| Vehicle assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deployed vehicle assets | $398429 | $491361 |
| &nbsp;&nbsp;&nbsp;&nbsp;Undeployed vehicle assets | 45137 | 21196 |
| Non-vehicle assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized internal-use software | 72343 | 82856 |
| &nbsp;&nbsp;&nbsp;&nbsp;Leasehold improvements | 5239 | 7488 |
| &nbsp;&nbsp;&nbsp;&nbsp;Furniture and fixtures | 868 | 941 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment | 1125 | 1746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total property and equipment | 523141 | 605587 |
| Accumulated vehicle asset depreciation | (202277) | (275452) |
| Accumulated non-vehicle asset depreciation & amortization | (59575) | (75618) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total property and equipment, net | $261289 | $254517 |

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The following table presents amounts recognized in the consolidated statements of operations related to property & equipment (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Vehicle asset depreciation expense | $92486 | $73168 | $107449 |
| Non-vehicle asset depreciation and amortization expense | 13854 | 16381 | 17224 |
| Loss on vehicle asset disposals | 3419 | 1295 | 622 |

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As a result of the Company's annual vehicle asset useful life reassessment in the fourth quarter of 2023, the estimated useful lives for certain of its vehicle assets were updated on a prospective basis, effective January 1, 2024. The Company estimates these changes decreased vehicle asset depreciation expense by $27.2 million for the year ended December 31, 2024.

Effective January 1, 2025, the Company changed its depreciation methodology for vehicle assets from a usage-based method to a straight-line method. The Company estimates this change increased vehicle asset depreciation expense by $14.8 million for the year ended December 31, 2025.

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**NOTE 5. ACCRUED LIABILITIES**

Accrued liabilities consisted of the following (in thousands):

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2024** | **2025** |
| Accrued purchases | $21722 | $9625 |
| Accrued operations related expenses | 19655 | 29546 |
| Short-term claims reserve | 17892 | 14212 |
| Accrued legal settlements | 10733 | 4590 |
| Accrued escheatment | 9386 | 12350 |
| Accrued insurance | 6046 | 9631 |
| Other | 1667 | 2107 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total accrued liabilities | $87101 | $82061 |

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**NOTE 6. OTHER LONG-TERM LIABILITIES**

Other long-term liabilities consisted of the following (in thousands):

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2024** | **2025** |
| Long-term claims reserve | $22692 | $38227 |
| Non-income tax reserves | 2415 | 2984 |
| Other | 3400 | 4161 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other long-term liabilities | $28507 | $45372 |

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**NOTE 7. LEASES**

The following table presents certain information related to the costs for operating leases (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Operating lease costs | $15321 | $14952 | $15702 |
| Short-term lease costs | 1671 | 2443 | 1765 |
| Sublease income | 1379 | 1000 | 424 |

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Variable lease costs for the years ended December 31, 2023, 2024 and 2025 were not material.

The following table presents supplemental information used to calculate the present value of operating lease liabilities:

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| | | | |
|:---|:---|:---|:---|
| | **December 31,** | **December 31,** | **December 31,** |
| | **2023** | **2024** | **2025** |
| Weighted-average remaining lease term | 2.3 years | 3.6 years | 3.8 Years |
| Weighted-average discount rate | 8.9% | 9.0% | 9.1% |

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The following table presents certain supplemental information related to the cash flows for operating leases (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Cash paid for amounts included in the measurement of lease liabilities | $16047 | $16368 | $17290 |
| ROU assets obtained in exchange for new lease liabilities | 16495 | 19743 | 11859 |

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The following table reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded in the consolidated balance sheets (in thousands):

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| | |
|:---|:---|
| 2025 | $12949 |
| 2026 | 9171 |
| 2027 | 6384 |
| 2028 | 3342 |
| 2029 | 1204 |
| Thereafter | 3072 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total undiscounted lease payments | 36122 |
| Less: Present value discount | (5306) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total lease liabilities | $30816 |

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The Company recognized no impairment losses relating to operating lease ROU assets during the years ended December 31, 2023 and 2025. During 2024, the Company recognized an impairment loss of $1.6 million related to an operating lease ROU asset at its corporate office space.

**NOTE 8. COMMITMENTS AND CONTINGENCIES**

***Letters of Credit***

The Company maintains various stand-by letters of credit and guarantees from third-party financial institutions in the ordinary course of business to guarantee performance obligations related to certain vehicle and battery manufacturing, real estate leases, insurance policies, and other contractual arrangements. The letters of credit are collateralized by restricted cash. As of December 31, 2024 and 2025, the Company had outstanding balances of $57.7 million, and $75.5 million, respectively.

***Indemnification***

The Company has entered into indemnification provisions under agreements with other parties in the ordinary course of business, including governmental entities and other business partners. The Company has agreed to indemnify and defend the indemnified party's claims and related losses suffered or incurred by the indemnified party arising from actual or threatened third-party claims related to the Company's activities. It is not possible to determine the potential loss resulting from the contractual indemnification obligations because of the distinctive facts involved in any potential action arising from each indemnification provision. As of December 31, 2025, some contractual indemnification obligations were accrued with personal injury matters. See the "Personal Injury Matters" section below for more information.

The Company's Bylaws provide that it will indemnify directors and officers against certain costs and liabilities that may arise by reason of their status or service to the Company.

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***Legal Proceedings***

The Company is currently involved in, and may in the future be involved in, legal proceedings, claims, regulatory inquiries, and governmental investigations in the ordinary course of business, which may include litigation by riders and third parties (individually or as class actions) alleging, but not limited to, various wage and expense claims, violations of state or federal laws, product liability and personal injury claims. The Company has determined that, except as disclosed below, no disclosure of estimated loss is required for these matters because: (1) there is not a reasonable possibility that a loss exceeding amounts already recognized (if any) may be incurred with respect to such matters (2) a reasonably possible loss or range of loss cannot be estimated, or (3) such estimate is immaterial.

Due to the inherent nature of litigation, the outcomes of the Company's current and potential future legal proceedings are not possible to predict with any certainty. For certain matters for which a material loss is probable and reasonably estimable, an estimate of the amount of loss is recorded in the consolidated financial statements. Until there is finality to the resolution of the legal matters, the exposure to a loss individually, or in the aggregate may differ from the amount recorded. Legal fees are expensed as incurred.

<u>Personal Injury Matters</u>

The Company is currently named as a defendant in a number of matters related to accidents or other incidents involving the use of its vehicles brought by riders and third parties. The Company disputes the allegations and continues to defend itself vigorously against such claims. The Company does not believe that these existing or threatened claims are individually likely to have a material impact on its business, financial condition or results of operations. Notwithstanding such, litigation and claims are inherently unpredictable, and legal proceedings arising from such incidents, individually or in the aggregate, could have a material impact on the Company's business, financial condition and results of operations. Additionally, despite the outcome, litigation may have an adverse impact to the Company because of defense and settlement costs individually and in the aggregate, including the diversion of management resources to defend such claims, and other factors.

As of December 31, 2024 and 2025, the Company has claims reserves of $40.6 million and $52.4 million, respectively, to cover the estimated costs for personal injury claims incurred but not paid and personal injury claims that have been incurred but not yet reported, as well as certain contractual indemnification obligations as described in the "Indemnification" section above. Additionally, as of December 31, 2024 and 2025, the Company has a reserve of $10.7 million and $4.6 million, respectively, to cover settled but unpaid claims.

<u>Non-Income Tax Matters</u>

The Company is under audit by various domestic and foreign tax authorities with regards to non-income tax matters. The Company accrues non-income taxes that may result from examinations by, or any negotiated agreements with, these tax authorities when a loss is probable and reasonably estimable. Due to the inherent complexity and uncertainty of these matters and judicial process in certain jurisdictions, the final outcome may be materially different from the Company's expectations.

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**NOTE 9. CONVERTIBLE NOTES AND TERM LOAN**

***2021 Notes***

Between October and November 2021, the Company issued the 2021 Notes with an initial aggregate principal amount of $417.6 million and a maturity date of October 29, 2025. In October 2023, the maturity date was amended to October 29, 2026. The 2021 Notes initially accrued interest at a rate of 4.0% per annum, which increased by 0.5% in April 2023, by another 1.0% in October 2023, and by 1.0% semi-annually thereafter up to a maximum of 8.0%. At the election of the Company, interest is to be paid in cash or by increasing the principal amount of the 2021 Notes by payment in kind ("PIK interest"). The Company has elected to pay PIK interest.

The 2021 Notes contain various conversion options upon the occurrence of certain events such as an IPO, change of control, or equity financing. In the event of an IPO or change of control, the 2021 Notes will convert into common stock at a price per share limited to the lesser of (i) a range of 75% to 80% of the applicable transaction price per share of common stock and (ii) a cap price per share as defined in the note purchase agreement. In the event of an equity financing, the 2021 Notes will convert into the equity securities issued based on such equity securities' price per share in such financing. If the 2021 Notes have not been converted or otherwise settled at maturity, the principal plus a premium of 25% becomes due and payable at maturity. The 2021 Notes are secured by substantially all of the Company's assets.

***2020 Notes***

Between May and June 2020, the Company issued convertible secured promissory notes (the "2020 Notes") in the aggregate principal amount of $170.0 million. Of the aggregate principal amount, $85.0 million was issued to Uber (the "2020 Uber Note") and the remaining $85.0 million was issued to other investors (the "2020 Investor Notes"). The 2020 Notes accrue non-compounding interest at a fixed rate of 4.0% per annum and mature on May 7, 2027. Accrued interest either converts into common shares or becomes payable in accordance with the conversion and settlement options described below. If not earlier converted, the principal and accrued interest of the 2020 Notes becomes due and payable at the maturity date.

The holders of the 2020 Investor Notes also received warrants to acquire a total of 194,741,402 shares of common stock at an exercise price of $0.0100 per share. The warrant has a term of seven years and may be exercised on a cashless basis at any time based on their fair market value at the time of conversion, in which event the Company will not receive any proceeds. The warrants were recorded as equity at their relative fair value of $0.8 million. The remaining $84.2 million of the proceeds received were allocated to the 2020 Investor Notes. There were no exercises during the years ended December 31, 2023, 2024 and 2025.

At issuance, the total debt discount related to the 2020 Uber Note and 2020 Investor Notes was $0.4 million and $1.2 million, respectively. This amount is being amortized as additional interest expense over the term of the 2020 Notes using the effective interest rate method at an effective interest rate of 4.05%. Amortization of the debt discount totaled $0.2 million for each of the years ended December 31, 2023, 2024 and 2025.

The 2020 Notes contain various conversion and settlement options: (i) conversion of the principal amount to Series 3 preferred stock (in the case of the 2020 Uber Note) or Series 2 preferred stock (in the case of the 2020 Investor Notes), with the accrued interest settled in cash or common stock at the Company's election; or (ii) in the event of a change of control of the Company or IPO, the principal amount and accrued interest will, at the election of the holder, either become due and payable or convert into common stock. The conversion price of the 2020 Notes is $0.0249 per share of common stock. The 2020 Notes are secured by substantially all of the Company's assets.

Several of the holders of the 2021 Notes and 2020 Notes are related parties of the Company. See Note 15 – Related Party Transactions for more information.

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***Senior Secured Term Loan***

In October 2023, the Company entered into a senior secured term loan with certain lenders (the "Senior Secured Term Loan") with a principal amount of $115.0 million, an interest rate of 10.0% per annum and a maturity date of September 30, 2026, upon which the principal balance is due in full. The Company incurred debt issuance costs related to legal and underwriting fees of $2.2 million and was required to pay a closing fee of $2.3 million, all of which are being amortized to interest expense over the term of the loan. The proceeds of the Senior Secured Term Loan were used to fully repay the Company's prior term loan and the Company incurred a loss on extinguishment of $0.9 million in interest expense in the consolidated statements of operations.

The Company's obligations under the Senior Secured Term Loan are backed by a guaranty from Uber, a related party of the Company. The Senior Secured Term Loan is secured by substantially all of the Company's assets.

The Senior Secured Term Loan agreement and the note purchase agreements for the 2021 Notes and 2020 Notes contain customary covenants restricting the Company and its subsidiaries ability to incur debt, incur liens, make investments, transfer assets and undergo certain fundamental changes, as well as certain financial covenants specified in the contractual agreement. As of December 31, 2025, the Company was in compliance with all covenants.

***Aggregate debt maturities and expenses***

As of December 31, 2025, future principal payments for the Company's convertible notes and term loan were as follows (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Convertible Notes** | **Term Loan** | **Total** |
| 2026 | 560798 | 115000 | 675798 |
| 2027 | 169990 |  | 169990 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total future principal payments | $730788 | $115000 | $845788 |

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Future principal payments for convertible notes includes $143.2 million of PIK Interest on the 2021 Notes. Future principal payments for convertible notes does not include the premium of 25%, on the 2021 Notes, that becomes due and payable at maturity.

The following table presents interest expense recognized related to the term loan and 2020 Notes (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Contractual interest on term loan | $12416 | $11436 | $11500 |
| Contractual interest on 2020 Notes | 6800 | 6800 | 6800 |
| Amortization of debt discount and issuance costs | 1508 | 1741 | 1749 |
| Amortization of end of term payment | 1474 |  |  |
| Loss on debt extinguishment | 902 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $23100 | $19977 | $20049 |

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**NOTE 10. CONVERTIBLE PREFERRED STOCK**

Convertible preferred stock consisted of the following as of December 31, 2025 (in thousands, except share and per share amounts):

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Shares Authorized** | **Shares Issued and Outstanding** | **Conversion Price Per Share** | **Aggregate Liquidation Preference** | **Carrying Value** |
| Series 1 (junior): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;A | 747164100 | 663886828 | $0.0057 | $3799 | $9086 |
| &nbsp;&nbsp;&nbsp;&nbsp;A-1 | 172932100 | 73061464 | 0.0011 | 77 | 958 |
| &nbsp;&nbsp;&nbsp;&nbsp;B | 1317300632 | 582225324 | 0.0238 | 13884 | 9555 |
| &nbsp;&nbsp;&nbsp;&nbsp;C | 2383505340 | 2090108745 | 0.0652 | 136176 | 54534 |
| &nbsp;&nbsp;&nbsp;&nbsp;D | 1387645728 | 1238656042 | 0.0864 | 107034 | 39894 |
| Series 2 (junior) | 4000000000 |  |  |  |  |
| Series 3 (senior) | 4000000000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | 14008547900 | 4647938403 |  | $260970 | $114027 |

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Convertible preferred stock consisted of the following as of December 31, 2024 (in thousands, except share and per share amounts):

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Shares Authorized** | **Shares Issued and Outstanding** | **Conversion Price Per Share** | **Aggregate Liquidation Preference** | **Carrying Value** |
| Series 1 (junior): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;A | 747164100 | 663886828 | $0.0057 | $3799 | $9085 |
| &nbsp;&nbsp;&nbsp;&nbsp;A-1 | 172932100 | 73061464 | 0.0011 | 77 | 958 |
| &nbsp;&nbsp;&nbsp;&nbsp;B | 1317300632 | 582225324 | 0.0238 | 13884 | 9555 |
| &nbsp;&nbsp;&nbsp;&nbsp;C | 2383505340 | 1539351350 | 0.0652 | 100293 | 40160 |
| &nbsp;&nbsp;&nbsp;&nbsp;D | 1387645728 | 1238656042 | 0.0864 | 107034 | 39894 |
| Series 2 (junior) | 4000000000 |  |  |  |  |
| Series 3 (senior) | 4000000000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | 14008547900 | 4097181008 |  | $225087 | $99652 |

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The Series 1, Series 2, and Series 3 convertible preferred stock are collectively referred to as the "Preferred Stock". The characteristics of the Company's Preferred Stock are as follows:

***Voting***

Holders of the Company's Preferred Stock are entitled to vote on all matters presented to the stockholders. Each holder of Preferred Stock is entitled to a number of votes for each share held equal to the number of shares of common stock into which that share of Preferred Stock is convertible as of the record date for the stockholders' meeting. Unless required by law or the Company's Amended and Restated Certificate of Incorporation, holders of Preferred Stock shall vote together with holders of common stock as a single class and on an as-converted to common stock basis.

***Director Elections***

The holders of Series 3 preferred stock, voting exclusively as a separate class on an as-converted to common stock basis are entitled to elect one director. The holders of Series 1 and Series 2 preferred stock, voting together exclusively as a separate class on an as converted basis, are entitled to elect one director. The holders of common stock, voting exclusively as a separate class, are entitled to elect two

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directors of the Company. The remaining directors are elected by the holders of common stock and all series of Preferred Stock, voting together as a single class on an as-converted basis.

***Dividends***

The Company may not declare, pay or set aside any dividends on shares of any other class or series of capital stock unless the holders of the Series 2 and Series 3 preferred stock (the "Series Preferred Stock") first receive, or simultaneously receive, a dividend on each outstanding share of Series Preferred Stock. As of December 31, 2023, 2024 and 2025, no dividend has been declared or paid on any class of the Company's capital stock.

The required dividend per share for each series of Preferred Stock will be the greater of the following scenarios:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in case of a dividend on common stock or any stock that is convertible into common stock: an amount equal to the dividend would be paid if all shares of Preferred Stock had been converted into common stock on the dividend record date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in case of a dividend on any other class that is not convertible into common stock: at a rate per share of such series of Series Preferred Stock determined by (A) dividing the amount of the dividend payable on each share of such class or series of capital stock by the applicable original issuance price of such class or series of capital stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to such class or series) and (B) multiplying such fraction by an amount equal to the applicable original issuance price (as defined in the Company's 9th Amended and Restated Certificate of Incorporation).

If dividends are declared on more than one class of stock on the same date, the dividend obligation to the Preferred Stock will be calculated based on the class of stock that results in the highest possible dividend payment for them. The original issuance price is subject to adjustment for any stock splits, stock dividends, recapitalizations, or similar events.

***Liquidation Preference***

In the event of liquidation, holders of Series 3 preferred stock are entitled to receive, before any payment to holders of Series 1 and Series 2 preferred stock or common stock, an amount per share equal to the greater of (i) the applicable original issue price, plus any unpaid dividends, or (ii) such amount as would have been payable had such shares been converted into common stock.

After payment to the holders of shares of Series 3 preferred stock, holders of Series 2 preferred stock are entitled to receive, before any payment to the holders of Series 1 preferred stock or common stock, an amount per share equal to the greater of (i) the applicable original issue price, plus any unpaid dividends, or (ii) such amount as would have been payable had such shares been converted into common stock.

After payment to the holders of Series 3 and 2 preferred stock, holders of Series 1 preferred stock shall be entitled to receive, before any payment to holders of common stock, an amount per share equal to the greater of (i) the applicable original issue price, plus any unpaid dividends, or (ii) such amount per share as would have been payable had such shares been converted into common stock.

If upon any such liquidation, dissolution or winding up of the Company, the assets of the Company available for distribution are insufficient to pay the holders of a series of Preferred Stock the full amount to which they are entitled, the holders will share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full.

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Original issue prices are reflected in the Company's 9th Amended and Restated Certificate of Incorporation.

***Redemption***

The holders of Preferred Stock have no voluntary rights to redeem their shares. However, the Preferred Stock has deemed liquidation provisions which require the shares to be redeemed upon a change in control or other deemed liquidation events. Although the Preferred Stock is not mandatorily or currently redeemable, a deemed liquidation event would constitute a redemption event outside the Company's control. As a result of these liquidation features, all shares of Preferred Stock have been classified outside of stockholders' deficit and presented as mezzanine equity on the consolidated balance sheet. The carrying values of the Company's Preferred Stock have not been accreted to their redemption values as these events have not occurred and are not considered probable of occurring given the Company has no plan for a deemed liquidation event in the near future. Subsequent adjustments of the carrying values to redemption values will be made only if and when it becomes probable the preferred shares will become redeemable.

***Conversion***

Each share of Preferred Stock is convertible, at the option of the holder, into shares of common stock as determined by dividing the applicable original issue price by the applicable conversion price in effect at the time of conversion. The conversion price initially equals the original issue price in effect for each series, subject to adjustment in accordance with anti-dilution provisions contained in the Company's 9th Amended and Restated Certificate of Incorporation. This conversion does not require any additional cash payment. The right to convert terminates immediately prior to the closing of a liquidation, dissolution, winding-up, or a deemed liquidation event. As of December 31, 2023, 2024 and 2025, no shares of Preferred Stock were converted into the Company's common stock.

All outstanding shares of Preferred Stock will automatically convert into shares of common stock at the then effective conversion rate, upon the occurrence of either (a) a qualified IPO which results in at least $50.0 million of gross proceeds to the Company or (b) a vote of the Requisite Holders of Preferred Stock and the holders of a majority of the Series 1 Preferred Stock (each as defined in the Company's 9th Amended and Restated Certificate of Incorporation). Once converted, these shares of Preferred Stock cannot be reissued by the Company.

**NOTE 11. STOCK-BASED COMPENSATION**

On February 7, 2017, the Company adopted the Neutron Holdings, Inc., 2017 Stock Incentive Plan (the "Plan") pursuant to which the Board of Directors may grant non-statutory stock options to purchase shares of the Company's common stock to outside directors and consultants and either non-statutory or incentive stock options to purchase shares of the Company's common stock to employees. The Plan has been amended from time to time, to authorize additional shares and permit the grant of restricted stock and restricted stock units. As of December 31, 2025, the Company was authorized to issue up to 9,639,990,530 shares of common stock and 1,227,389,103 shares were available for issuance under the Plan.

***Stock Options***

Stock options are typically granted with an exercise price equal to the fair value of common stock at the grant date and have a 10 year contractual term. Certain awards vest monthly over a three year period, while other awards cliff vest after one year and then vest monthly over the remaining two years.

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Stock option activity was as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Number of Shares** | **Weighted-Average Exercise Price Per Share** | **Weighted-Average Remaining Contractual Life**<br>**(in years)** | **Aggregate Intrinsic Value** <br>**(in thousands)** |
| Outstanding as of January 1, 2025 | 5331144855 | $0.0136 | 7.8 | $36401 |
| &nbsp;&nbsp;&nbsp;&nbsp;Granted | 197712592 | 0.0208 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exercised | (471454926) | 0.0117 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Forfeited | (530827177) | 0.0152 |  |  |
| Outstanding as of December 31, 2025 | 4526575344 | $0.0139 | 6.9 | $140335 |
| Vested and exercisable as of December 31, 2025 | 3360055784 | $0.0128 | 6.4 | $108174 |
| Vested and expected to vest as of December 31, 2025 | 4526575344 | $0.0139 | 6.9 | $140335 |

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The total fair value of shares vested during the years ended December 31, 2024 and 2025, was $8.6 million and $34.9 million, respectively.

The aggregate intrinsic value of stock options exercised during the years ended December 31, 2024 and 2025, was $1.6 million and $8.0 million, respectively.

As of December 31, 2024 and 2025, the Company had zero unvested early exercised shares. As of December 31, 2024 and 2025, the Company also had 571,304,993 shares issued that remain subject to repayment of nonrecourse notes.

The fair value of each stock option grant was estimated at the date of grant using a Black-Scholes option pricing model. The following table presents the weighted-average assumptions used in the valuation and the resulting weighted-average fair value per option granted:

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Expected term | 5.8 years | 5.8 years | 5.7 years |
| Expected volatility | 65.3% | 71.9% | 56.5% |
| Risk-free interest rate | 4.2% | 4.3% | 4.1% |
| Expected dividend yield | —% | —% | —% |
| Weighted-average fair value per option granted | $0.0044 | $0.0112 | $0.0116 |

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***RSUs***

The Company grants RSUs that generally vest upon the satisfaction of both a time-based service requirement and a performance-based liquidity event requirement. The service-based condition is satisfied equally over 12 quarters, provided the grantee remains in continuous service. The performance-based condition is satisfied upon the consummation of the qualifying liquidity event, which is the earlier of an initial public offering ("IPO"), a direct listing, or a sale event.

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The following table summarizes the activity related to RSUs for the year ended December 31, 2025:

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| | | |
|:---|:---|:---|
| | **Number of Shares** | **Weighted-Average Grant-Date Fair Value Per Share** |
| Unvested and Outstanding as of January 1, 2025 |  | $— |
| Granted | 1247033653 | 0.0284 |
| Vested |  |  |
| Forfeited | (62472009) | 0.0253 |
| Unvested and Outstanding as of December 31, 2025 | 1184561644 | $0.0286 |

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The Company determines the grant-date fair value of these RSUs based on the market price of its common stock on the date of grant. The Company does not recognize stock-based compensation expense for these awards until the performance condition is deemed probable of achievement, which occurs upon the consummation of the qualifying liquidity event.

Of the RSUs outstanding as of December 31, 2025, 207,508,125 had met their service condition. If the performance vesting condition had been met on December 31, 2025, the Company would have recorded stock-based compensation of $12.1 million and unrecognized stock-based compensation related to the unvested RSUs as of December 31, 2025 would have been $21.8 million, and that would have been recognized over a weighted-average remaining requisite service period of 1.3 years.

***Stock-Based Compensation Expense***

The Company recorded stock-based compensation expense in the consolidated statements of operations as follows (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Cost of revenue | $58 | $36 | $28 |
| Selling, general and administrative | 5474 | 5840 | 5888 |
| Operations and support | 1550 | 1697 | 1177 |
| Research and development | 4403 | 4235 | 4105 |
| Total stock-based compensation expense | $11485 | $11808 | $11198 |

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The Company capitalized $1.6 million, $2.0 million, and $1.0 million of stock-based compensation expense in software development costs for the years ended December 31, 2023, 2024 and 2025, respectively.

As of December 31, 2025, total compensation cost not yet recognized related to unvested stock options was $11.9 million, which is expected to be recognized over a weighted-average period of 1.3 years.

As of December 31, 2025, the Company had limited options outstanding subject to performance and market conditions. No stock-based compensation expense for these awards has been recorded as the performance conditions are not deemed probable of being met. Total compensation cost not yet recognized related to these awards was immaterial as of December 31, 2025.

As of December 31, 2024 and 2025, the Company has recorded a full valuation allowance against its U.S. deferred tax assets. As the Company believes it is more likely than not that stock option related tax benefits will not be realized, the Company does not record any net tax benefits related to exercised options.

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During 2023, the Board of Directors approved a reduction of the exercise price of 1,995,240,575 eligible current employee option shares to $0.0122. All other terms set forth in the original option agreements remained unchanged. As a result of this repricing, the Company recognized incremental stock-based compensation expense of $1.9 million during the year ended December 31, 2023.

**NOTE 12. WARRANTS**

As of December 31, 2024 and 2025, the following warrants were outstanding:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Issued in connection with** | **Warrant Shares** | **Exercise Price Per Share** | **Number of Warrant Shares Outstanding as of 12/31/2024** | **Number of Warrant Shares Outstanding as of 12/31/2025** | **Expiration date** |
| Common Stock Warrants: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Atel Loan Agreement | 13981000 | $0.0211 | 13981000 | 13981000 | January 2028 |
| &nbsp;&nbsp;&nbsp;SVB Loan Agreement | 1010900 | 0.0211 | 1010900 | 1010900 | January 2028 |
| &nbsp;&nbsp;&nbsp;BMO Credit Agreement | 5119454 | 0.1172 | 5119454 | 5119454 | March 2030 |
| &nbsp;&nbsp;&nbsp;2020 Investor Note | 194741402 | 0.0100 | 175850440 | 175850440 | May - June 2027 |
| Preferred Stock Warrants: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Uber Integration Agreement (Series 1-C) | 550757395 | $0.0001 | 550757395 |  | May 2025 |
| &nbsp;&nbsp;&nbsp;TriplePoint Loan Agreement (Series B) | 7845200 | 0.0669 | 7845200 | 7845200 | March 2028 |

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During the year ended December 31, 2025, the Company issued 550,757,395 shares of Series 1-C preferred stock upon the exercise of preferred stock warrants, issued in connection with the Uber Integration Agreement, for an aggregate exercise price of $0.1 million. No warrants for common or preferred stock were issued or exercised during the years ended December 31, 2023 and 2024.

**NOTE 13. OTHER EXPENSE, NET**

The components of other expense, net were as follows (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Loss on change in fair value of the 2021 Notes | $(77182) | $(40950) | $(124957) |
| Foreign currency exchange (losses) gains, net | 3265 | (22014) | 16673 |
| Interest income | 5148 | 6802 | 8673 |
| Other (losses) gains, net  | 258 | (42) | 606 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other expense, net | $(68511) | $(56204) | $(99005) |

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**NOTE 14. INCOME TAXES**

The domestic and foreign components of loss before income taxes were as follows (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Domestic loss | $(125143) | $(29603) | $(75547) |
| Foreign income | 8868 | 86 | 26317 |
| Loss before income taxes | $(116275) | $(29517) | $(49230) |

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The components of the provision for income taxes were as follows (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Current tax provision: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal | $— | $192 | $2 |
| &nbsp;&nbsp;&nbsp;&nbsp;State and local | 95 | 603 | 175 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign | 10145 | 2345 | 9029 |
| Total current tax provision | 10240 | 3140 | 9206 |
| Deferred tax provision (benefit): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State and local |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign | (4157) | 1256 | 873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax provision (benefit) | (4157) | 1256 | 873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total provision for income taxes | $6083 | $4396 | $10079 |

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The following is a reconciliation of the federal statutory income tax rate to the Company's effective income tax rate:

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Federal statutory income tax rate | 21.0% | 21.0% | 21.0% |
| State tax, net of federal benefit | (0.6) | 2.8 | (6.7) |
| Foreign tax rate differential | (3.0) | (1.3) | (7.6) |
| Change in valuation allowance | (2.2) | (8.8) | 24.2 |
| Stock options | (1.2) | (5.2) | (2.0) |
| Tax impact of convertible note | (15.0) | (34.0) | (56.2) |
| Uncertain tax positions | (1.5) | 12.7 | (1.0) |
| Tax credits | 2.5 | 3.0 | 6.9 |
| Other | (5.2) | (5.1) | 0.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Effective income tax rate | (5.2)% | (14.9)% | (20.5)% |

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The Company's deferred taxes consisted of the following at (in thousands):

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2024** | **2025** |
| Net operating losses | $246801 | $246679 |
| Accruals and reserves | 14737 | 19028 |
| Stock-based compensation and other equity awards | 35399 | 9611 |
| Convertible note issuance costs | 1299 |  |
| Capitalized research and development | 17902 | 17784 |
| Lease liabilities | 3376 | 2674 |
| Interest expense carryforwards | 9152 | 6076 |
| Other temporary differences | 9774 | 22393 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax assets before valuation allowance | 338440 | 324245 |
| Valuation allowance | (305506) | (294406) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax assets—net of valuation allowance | 32934 | 29839 |
| Fixed assets | (23654) | (18518) |
| Lease right-of-use assets | (2774) | (2598) |
| Other temporary differences |  | (2445) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax liabilities | (26428) | (23561) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net deferred tax assets | $6506 | $6278 |

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Net operating losses and tax credit carryforwards were as follows as of December 31, 2025 (in thousands):

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| | |
|:---|:---|
| Net operating losses, federal | $943954 |
| Net operating losses, state | 740881 |
| Net operating losses, foreign | 39494 |
| Research & development credits, federal | 13293 |
| Research & development credits, state | 6236 |

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The Company has domestic federal and state net operating loss carryforwards that begin to expire in 2037 and foreign net operating loss carryforwards in various jurisdictions with various expirations.

As of December 31, 2025, the Company had research and development tax credit carryforwards for federal income tax purposes and California state tax purposes. If not utilized, the federal research and development tax credit carryforwards will begin to expire in 2037. The California state research credit will carry forward indefinitely.

Federal and state laws can impose substantial restrictions on the utilization of net operating loss and tax credit carry-forwards in the event of an "ownership change," as defined in Section 382 of the Internal Revenue Code. The Company has experienced ownership changes since inception and determined that its utilization of net operating loss carryforwards will be subject to annual limitations. However, it is not expected that the annual limitations will result in the expiration of tax attribute carryforwards prior to utilization.

The Company is subject to income taxes in the U.S. federal jurisdiction, and various state and foreign jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. Additionally, the Company's operations in certain jurisdictions remain open for examination for tax years 2017 and onwards.

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Changes in unrecognized tax benefits were as follows (in thousands):

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| | |
|:---|:---|
| Unrecognized tax benefits as of December 31, 2024 | $8213 |
| Additions based on tax positions related to current year | 545 |
| Additions for tax positions of prior years | 467 |
| Unrecognized tax benefits as of December 31, 2025 | $9225 |

---

As of December 31, 2024 and 2025, $6.5 million and $7.0 million, respectively, of unrecognized tax benefits have been netted against deferred tax assets because the unrecognized tax benefits reduce a net operating loss, similar tax loss or tax credit carryforward. As of December 31, 2025, the Company does not expect the unrecognized tax benefits, if recognized, to have a material impact on the effective tax rate.

The Company did not incur any material interest expenses or penalties or have related outstanding liabilities in the consolidated balance sheets associated with unrecognized tax benefits for the year ended December 31, 2025.

**NOTE 15. RELATED PARTY TRANSACTIONS**

***Uber***

The Company entered into an Integration Agreement with Uber, an investor who owns greater than 10% of the Company, dated August 10, 2018, as amended from time to time and most recently amended and restated as of September 15, 2025. The Integration Agreement allows riders to access the Company's vehicles through mobile applications distributed by Uber and/or its subsidiaries. The Integration Agreement is currently effective through December 31, 2028. The Company receives revenue for these bookings and pays Uber a service fee in exchange. The revenue recognized through the Integration Agreement consists solely of lease revenue. Service fees are recorded in cost of revenue in the consolidated statements of operations. As a result of the Integration Agreement, Uber also received common stock warrants in 2018.

The total revenue earned through and related service fees charged from the Integration Agreement were as follows (in thousands):

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Revenue earned | $73537 | $108221 | $126641 |
| Service fees paid | 4393 | 12481 | 14953 |

---

The Company received funding from Uber in the form of the 2020 Uber Note and as part of the 2021 Notes, as discussed in Note 9 – Convertible Notes and Term Loan.

The Company and Uber are also party to the Amended Warrant Agreement, as discussed in Note 12 – Warrants.

The Company and Uber were also party to a Call Option Agreement dated May 7, 2020. The Call Option Agreement gave Uber the option to acquire all of the outstanding securities of the company at fair market value. Uber did not exercise the call option, and it expired on May 7, 2024.

***Other Related Parties***

As discussed in Note 1 – Description of Business and Summary of Significant Accounting Policies, the Company issued promissory notes to certain current and former members of management in connection with the exercise of Company stock options.

------

The Company entered into a Note and Warrant Purchase Agreement with Andreessen Horowitz, an investor who owns greater than 10% of the Company, dated as of May 7, 2020, by and among the Company and the Lenders (as defined therein), and the convertible secured promissory note issued to funds affiliated with Andreessen Horowitz, thereunder. See Note 9 – Convertible Notes and Term Loan for additional information.

The Company entered into a Senior Secured Term Loan with Diameter which was guaranteed by an affiliate company, dated as of October 5, 2023. See Note 9 – Convertible Notes and Term Loan for additional information.

**NOTE 16. NET LOSS PER SHARE**

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data):

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Net loss attributable to common stockholders | $(122358) | $(33913) | $(59309) |
| Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders, basic and diluted | 5823152122 | 6104052166 | 6492916777 |
| Net loss per share attributable to common shareholders, basic and diluted | $(0.02) | $(0.01) | $(0.01) |

---

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share as the effect would have been antidilutive:

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Stock options | 4115359226 | 5331144855 | 4526575344 |
| Early exercised stock options | 597300246 | 571304993 | 571304993 |
| RSUs |  |  | 1184561644 |
| Warrants for common stock | 195961794 | 195961794 | 195961794 |
| Warrants convertible for preferred stock (Uber Integration Agreement) | 550757395 | 550757395 |  |
| Warrants convertible for preferred stock (TriplePoint Loan Agreement) | 7845200 | 7845200 | 7845200 |
| 2020 Notes | 8574475401 | 8554559299 | 7707988214 |
| Convertible preferred stock | 4097181008 | 4097181008 | 4647938403 |
| Total | 18138880270 | 19308754544 | 18842175592 |

---

The 2021 Notes are only convertible upon the occurrence of certain events such as an IPO, change of control, or equity financing. The conversion price depends on the price of the equity securities issued in such events and the Company's capitalization at the time. As such, the conversion price and number of underlying shares for the 2021 Notes cannot be determined until a conversion-triggering event occurs. See Note 9 – Convertible Notes and Term Loan for additional information.

**NOTE 17. SEGMENTS**

***Operating Segments***

Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the CODM in deciding how to allocate resources to an individual

------

segment and in assessing performance. The Company's CODM is its Chief Executive Officer. The Company's CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company views its operations and manages its business as one operating and reportable segment, which is also a single reporting unit.

The CODM assesses performance of the Company and allocates resources based on consolidated net income (loss) as reported in the consolidated statements of operations. Consolidated net income (loss) is also used to monitor budget versus actual results.

The following table shows segment revenue, significant segment expenses, and the segment profit or loss measure for each financial statement period (in thousands):

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Revenue | $521983 | $686630 | $886719 |
| Significant segment expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 106340 | 89549 | 124673 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 11485 | 11808 | 11198 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of revenue<sup>(a)</sup> | 249074 | 319333 | 420161 |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative<sup>(a)</sup> | 106164 | 134680 | 160776 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operations and support<sup>(a)</sup> | 41056 | 47159 | 49985 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development<sup>(a)</sup> | 32488 | 37132 | 49525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total segment expenses | 546607 | 639661 | 816318 |
| Operating income (loss) | (24624) | 46969 | 70401 |
| Interest expense | (23140) | (20282) | (20626) |
| Other expense, net | (68511) | (56204) | (99005) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (116275) | (29517) | (49230) |
| Provision for income taxes | 6083 | 4396 | (10079) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(122358) | $(33913) | $(59309) |

---

__________________

(a)Exclusive of stock-based compensation and depreciation and amortization shown separately.

***Geographic Region Information***

Operating revenues are recognized by geographic regions based on the origination of the point of sale. For more information on revenue recognition, see Note 1 – Description of Business and Summary of Significant Accounting Policies. Long-lived assets includes property plant and equipment and operating lease right-of-use assets.

The following tables set forth revenue and long-lived assets, net by geographic area (in thousands):

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025 (1)** |
| United States of America | $173518 | $231240 | $282640 |
| United Kingdom | 79187 | 142578 | 196872 |
| France | 59575 | 68643 | 84533 |
| Other | 209703 | 244169 | 322674 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | $521983 | $686630 | $886719 |

---

------

__________________

(1)The Company has revised the geographic revenue amounts for an error identified subsequent to the issuance of these consolidated financial statements. As a result, United States of America revenue increased by $39.7 million with a corresponding decrease in revenue from Other geographic areas.

---

| | | |
|:---|:---|:---|
| | **As of December 31,** | **As of December 31,** |
| | **2024 (1)** | **2025 (1)** |
| United States of America | $141436 | $106710 |
| United Kingdom | 34874 | 35941 |
| Germany | 28640 | 35606 |
| Other | 86566 | 106212 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total long-lived assets, net | $291516 | $284469 |

---

__________________

(1)The Company has revised the long-lived assets table above to remove amounts included within other long-term assets on its consolidated balance sheet. The Company has determined that such amounts should not be considered long-lived assets. As a result, total long-lived assets, net decreased by $19.6 million and $17.0 million as of December 31, 2024 and 2025, respectively.

**NOTE 18. SUBSEQUENT EVENTS**

The Company evaluated subsequent events from December 31, 2025, the date of these consolidated financial statements, through May 7, 2026, which represents the date the financial statements were available for issuance.

***Tariffs***

On February 20, 2026, the U.S. Supreme Court held in Learning Resources, Inc. v. Trump that the International Emergency Economic Powers Act ("IEEPA") does not authorize a U.S. President to impose tariffs during peacetime national emergencies. As a result, on February 20, 2026, the U.S. President issued an executive order stating that such tariffs imposed under the IEEPA were no longer in effect. Thereafter, an executive order was issued by the U.S. President imposing tariffs pursuant to Section 122 of the Trade Act of 1974 for 150 days, effective on February 24, 2026. The Company is currently assessing the impact of these actions on its operations and consolidated financial statements, including our ability to recover incremental tariffs the Company has paid.

***Partial Recourse Notes***

Subsequent to December 31, 2025, the Company approved certain awards with a repayment of January 31, 2026 to be extended to March 13, 2026.

In February and March 2026, certain promissory note holders made cash payments of $9.1 million, in the aggregate, to the Company, to settle outstanding principal and accrued interest, of the same amount, on their promissory notes. Since the promissory note arrangements are, in substance, stock options, the cash payments to settle the promissory notes are considered an exercise of the stock options for 111,636,627 shares of common stock with a corresponding offset to additional paid-in-capital.

In March 2026, a promissory note holder surrendered to the Company 15,635,332 shares of common stock of the Company to settle the remaining $0.9 million of outstanding principal and accrued interest on their promissory note. Since the promissory note arrangements are, in substance, stock options, the settlement of the promissory note is considered an exercise of the stock options for 112,013,462 shares of common stock.

In March 2026, the Company repurchased 260,286,484 shares of common stock, originally pledged as security subject to repayment of certain promissory notes. The repurchase settled $19.9 million of outstanding principal and accrued interest on certain promissory notes at maturity. Since the promissory

------

note arrangements are, in substance, stock options, the repurchase of common stock to settle the promissory notes at maturity is considered an expiration of the stock options. In connection with the transaction, the Company elected to pay $1.6 million in tax withholding obligations on behalf of select note holders, recorded as selling, general and administrative expense on the consolidated statement of operations in the respective period.

***Warrants***

Subsequent to December 31, 2025, the Company issued 19,580,482 shares of common stock upon the exercise of common stock warrants, issued in connection with the 2020 Investor Note, for an aggregate exercise price of $0.2 million.

***Restricted Stock Units***

In March 2026, the Board of Directors approved the accelerated vesting of 10,946,713 RSUs as of the approval date. The modification resulted in a stock-based compensation expense of approximately $0.6 million within selling, general and administrative on the consolidated statement of operations.

Subsequent to December 31, 2025, the Company issued a total of 981,142,923 RSUs pursuant to the 2017 Plan to certain employees. These RSUs will vest upon satisfaction of both a service-based vesting condition and a liquidity-based vesting condition. Provided the employee remains in continued service with the Company, the service-based vesting condition will generally be satisfied quarterly over a three year period. The liquidity-based vesting condition will be satisfied upon the occurrence of an IPO, direct listing, or sale event.

------

**INDEX TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS <br>(UNAUDITED)**

---

| | |
|:---|:---|
| | **Page** |
| <u>[Condensed](#i2daaa9faa0b24be68f6320125a1b1051_13194139539020)[Consolidated](#i2daaa9faa0b24be68f6320125a1b1051_13194139539020)[Balance Sheets](#i2daaa9faa0b24be68f6320125a1b1051_13194139539020)</u> | <u>[F-42](#i2daaa9faa0b24be68f6320125a1b1051_13194139539020)</u> |
| <u>[Condensed C](#i2daaa9faa0b24be68f6320125a1b1051_13194139539025)[onsolidated Statements of Operations](#i2daaa9faa0b24be68f6320125a1b1051_13194139539025)</u> | <u>[F-43](#i2daaa9faa0b24be68f6320125a1b1051_13194139539025)</u> |
| <u>[Condensed](#i2daaa9faa0b24be68f6320125a1b1051_13194139539030)[Consolidated Statements of Comprehensive Loss](#i2daaa9faa0b24be68f6320125a1b1051_13194139539030)</u> | <u>[F-44](#i2daaa9faa0b24be68f6320125a1b1051_13194139539030)</u> |
| <u>[Condensed](#i2daaa9faa0b24be68f6320125a1b1051_13194139539035)[Consolidated Statements of Convertible Preferred Stock and Stockholders' Deficit](#i2daaa9faa0b24be68f6320125a1b1051_13194139539035)</u> | <u>[F-45](#i2daaa9faa0b24be68f6320125a1b1051_13194139539035)</u> |
| <u>[Condensed](#i2daaa9faa0b24be68f6320125a1b1051_13194139539042)[Consolidated Statements of Cash Flows](#i2daaa9faa0b24be68f6320125a1b1051_13194139539042)</u> | <u>[F-46](#i2daaa9faa0b24be68f6320125a1b1051_13194139539042)</u> |
| <u>[Notes to](#i2daaa9faa0b24be68f6320125a1b1051_13194139539047)[Con](#i2daaa9faa0b24be68f6320125a1b1051_13194139539047)[densed](#i2daaa9faa0b24be68f6320125a1b1051_13194139539047)[Consolidated Financial Statements:](#i2daaa9faa0b24be68f6320125a1b1051_13194139539047)</u> | <u>[F-48](#i2daaa9faa0b24be68f6320125a1b1051_13194139539047)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 1.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539054)[Description of Business and Summary of Significant Accounting Policies](#i2daaa9faa0b24be68f6320125a1b1051_13194139539054)</u> | <u>[F-48](#i2daaa9faa0b24be68f6320125a1b1051_13194139539054)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 2.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539219)[Fair Value Measurements](#i2daaa9faa0b24be68f6320125a1b1051_13194139539219)</u> | <u>[F-52](#i2daaa9faa0b24be68f6320125a1b1051_13194139539219)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 3.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539228)[Prepaid Expenses and Other Current Assets](#i2daaa9faa0b24be68f6320125a1b1051_13194139539228)</u> | <u>[F-53](#i2daaa9faa0b24be68f6320125a1b1051_13194139539228)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 4.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539232)[Property and Equipment, Net](#i2daaa9faa0b24be68f6320125a1b1051_13194139539232)</u> | <u>[F-54](#i2daaa9faa0b24be68f6320125a1b1051_13194139539232)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 5.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539238)[Accrued Liabilities](#i2daaa9faa0b24be68f6320125a1b1051_13194139539238)</u> | <u>[F-54](#i2daaa9faa0b24be68f6320125a1b1051_13194139539238)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 6.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539256)[Other Long-term Liabilities](#i2daaa9faa0b24be68f6320125a1b1051_13194139539256)</u> | <u>[F-55](#i2daaa9faa0b24be68f6320125a1b1051_13194139539256)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_13194139539270)[7](#i2daaa9faa0b24be68f6320125a1b1051_13194139539270)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539270)[Commitments and Contingencies](#i2daaa9faa0b24be68f6320125a1b1051_13194139539270)</u> | <u>[F-55](#i2daaa9faa0b24be68f6320125a1b1051_13194139539270)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_13194139539276)[8](#i2daaa9faa0b24be68f6320125a1b1051_13194139539276)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539276)[Convertible Notes and Term Loan](#i2daaa9faa0b24be68f6320125a1b1051_13194139539276)</u> | <u>[F-56](#i2daaa9faa0b24be68f6320125a1b1051_13194139539276)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_13194139539288)[9](#i2daaa9faa0b24be68f6320125a1b1051_13194139539288)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539288)[Stock-Based Compensation](#i2daaa9faa0b24be68f6320125a1b1051_13194139539288)</u> | <u>[F-58](#i2daaa9faa0b24be68f6320125a1b1051_13194139539288)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_13194139539296)[1](#i2daaa9faa0b24be68f6320125a1b1051_13194139539296)[0](#i2daaa9faa0b24be68f6320125a1b1051_13194139539296)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539296)[Warrants](#i2daaa9faa0b24be68f6320125a1b1051_13194139539296)</u> | <u>[F-60](#i2daaa9faa0b24be68f6320125a1b1051_13194139539296)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_13194139539302)[1](#i2daaa9faa0b24be68f6320125a1b1051_13194139539302)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539302)[Other Expense, Net](#i2daaa9faa0b24be68f6320125a1b1051_13194139539302)</u> | <u>[F-60](#i2daaa9faa0b24be68f6320125a1b1051_13194139539302)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_13194139540991)[2](#i2daaa9faa0b24be68f6320125a1b1051_13194139540991)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139540991)[Income T](#i2daaa9faa0b24be68f6320125a1b1051_13194139540991)[ax](#i2daaa9faa0b24be68f6320125a1b1051_13194139540991)</u> | <u>[F-60](#i2daaa9faa0b24be68f6320125a1b1051_13194139540991)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_13194139539316)[3](#i2daaa9faa0b24be68f6320125a1b1051_13194139539316)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539316)[Related Party Transactions](#i2daaa9faa0b24be68f6320125a1b1051_13194139539316)</u> | <u>[F-60](#i2daaa9faa0b24be68f6320125a1b1051_13194139539316)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_13194139539322)[4](#i2daaa9faa0b24be68f6320125a1b1051_13194139539322)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539322)[Net Loss Per Share](#i2daaa9faa0b24be68f6320125a1b1051_13194139539322)</u> | <u>[F-61](#i2daaa9faa0b24be68f6320125a1b1051_13194139539322)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_13194139539327)[5](#i2daaa9faa0b24be68f6320125a1b1051_13194139539327)[. Segments](#i2daaa9faa0b24be68f6320125a1b1051_13194139539327)</u> | <u>[F-62](#i2daaa9faa0b24be68f6320125a1b1051_13194139539327)</u> |

---

------

**NEUTRON HOLDINGS, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(in thousands, except share and per share amounts)<br>(unaudited)**

---

| | | |
|:---|:---|:---|
| | **December 31, 2025** | **March 31, 2026** |
| **Assets** | | |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $339825 | $261302 |
| &nbsp;&nbsp;&nbsp;Short-term restricted cash | 69470 | 77259 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 8145 | 11971 |
| &nbsp;&nbsp;&nbsp;Deposits | 225 | 264 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 69175 | 82974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 486840 | 433770 |
| Property and equipment, net | 254517 | 300833 |
| Long-term restricted cash | 6006 | 5346 |
| Operating lease right-of-use assets | 29952 | 33868 |
| Other long-term assets | 16972 | 19223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $794287 | $793040 |
| **Liabilities, Convertible Preferred Stock and Stockholders' Deficit** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $8211 | $7405 |
| &nbsp;&nbsp;&nbsp;Accrued liabilities | 82061 | 102186 |
| &nbsp;&nbsp;&nbsp;Accrued compensation | 21245 | 12323 |
| &nbsp;&nbsp;&nbsp;Accrued taxes | 25559 | 27125 |
| &nbsp;&nbsp;&nbsp;Operating lease liabilities, current | 10783 | 10584 |
| &nbsp;&nbsp;&nbsp;Contract liabilities | 6301 | 5981 |
| &nbsp;&nbsp;&nbsp;Term loan, current | 113866 | 114244 |
| &nbsp;&nbsp;&nbsp;2021 Notes, current | 660324 | 682934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 928350 | 962782 |
| 2020 Notes | 207885 | 209646 |
| Operating lease liabilities, non-current | 20033 | 24480 |
| Other long-term liabilities | 45372 | 47818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1201640 | 1244726 |
| &nbsp;&nbsp;&nbsp;Convertible preferred stock, $0.0001 par value, 14,008,547,900 shares authorized, 4,647,938,403 shares issued and outstanding as of December 31, 2025 and March 31, 2026 respectively, aggregate liquidation preference of $260,970 as of March 31, 2026 | 114027 | 114027 |
| Stockholders' deficit |  |  |
| &nbsp;&nbsp;&nbsp;Common stock, $0.0001 par value, 27,000,000,000 shares authorized, 7,290,959,250 and 7,185,167,557 issued and outstanding as of December 31, 2025 and March 31, 2026, respectively | 729 | 718 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 232977 | 247952 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (9910) | (7921) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (745176) | (806462) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' deficit | (521380) | (565713) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities, convertible preferred stock and stockholders' deficit | $794287 | $793040 |

---

*The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.*

------

**NEUTRON HOLDINGS, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(in thousands, except share and per share amounts)**

**(unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  |
| | **2025** | **2026** |
| Revenue | $129015 | $170150 |
| Cost of revenue | 100130 | 125559 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 28885 | 44591 |
| Operating expenses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative | 35914 | 45005 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operations and support | 11841 | 13391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 12552 | 15227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 60307 | 73623 |
| Operating loss | (31422) | (29032) |
| Interest expense | (5123) | (5159) |
| Other expense, net | (17082) | (25239) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (53627) | (59430) |
| Provision for income taxes | 2337 | 1856 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(55964) | $(61286) |
| Net loss per share attributable to common stockholders, basic and diluted | $(0.01) | $(0.01) |
| Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders, basic and diluted | 6327468113 | 6808690993 |

---

*The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.*

------

**NEUTRON HOLDINGS, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS**

**(in thousands)**

**(unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Net loss | $(55964) | $(61286) |
| Other comprehensive income: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign currency translation adjustments | (676) | (400) |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of instrument-specific credit risk | 2785 | 2389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other comprehensive income | 2109 | 1989 |
| Comprehensive loss | $(53855) | $(59297) |

---

*The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.*

------

**NEUTRON HOLDINGS, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT**

**(in thousands, except share amounts)**

**(unaudited)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Convertible Preferred Stock** | **Convertible Preferred Stock** | **Series 1-C Convertible Preferred Stock Warrants** | **Common Stock** | **Common Stock** | **Additional Paid-In Capital** | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total Stockholders' Deficit** |
| | **Shares** | **Amount** | **Amount** | **Shares** | **Amount** | **Additional Paid-In Capital** | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total Stockholders' Deficit** |
| Balance as of December 31, 2024 | 4097181008 | $99652 | $14320 | 6819504324 | $682 | $214458 | $(22364) | $(685867) | $(493091) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss |  |  |  |  |  |  |  | (55964) | (55964) |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of common stock for options exercised |  |  |  | 146769445 | 15 | 1897 |  |  | 1912 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  |  |  |  | 3493 |  |  | 3493 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 2109 |  | 2109 |
| Balance as of March 31, 2025 | 4097181008 | $99652 | $14320 | 6966273769 | $697 | $219848 | $(20255) | $(741831) | $(541541) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Convertible Preferred Stock** | **Convertible Preferred Stock** | **Common Stock** | **Common Stock** | **Additional Paid-In Capital** | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total Stockholders' Deficit** |
| | **Shares** | **Amount** | **Shares** | **Amount** | **Additional Paid-In Capital** | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total Stockholders' Deficit** |
| Balance as of December 31, 2025 | 4647938403 | $114027 | 7290959250 | $729 | $232977 | $(9910) | $(745176) | $(521380) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss |  |  |  |  |  |  | (61286) | (61286) |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of common stock for options exercised |  |  | 141656405 | 14 | 3047 |  |  | 3061 |
| &nbsp;&nbsp;&nbsp;Issuance of common stock for warrants exercised |  |  | 20838386 | 2 | 206 |  |  | 208 |
| &nbsp;&nbsp;&nbsp;Issuance of common stock for settlement of RSUs, net of shares withheld for taxes |  |  | 7635332 | 1 | (162) |  |  | (161) |
| &nbsp;&nbsp;&nbsp;Settlement of promissory notes issued in exchange for the early exercise of stock options (see Note 1) |  |  | (275921816) | (28) | 9100 |  |  | 9072 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  |  |  | 2784 |  |  | 2784 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  | 1989 |  | 1989 |
| Balance as of March 31, 2026 | 4647938403 | $114027 | 7185167557 | $718 | $247952 | $(7921) | $(806462) | $(565713) |

---

*The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.*

------

**NEUTRON HOLDINGS, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(in thousands)**

**(unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Cash flows from operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(55964) | $(61286) |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash used by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 28353 | 30340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 3152 | 2642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt discount and debt issuance costs | 436 | 439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-cash interest expense on convertible notes | 1700 | 1700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized foreign currency (gains) losses, net | (9000) | 4092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | (951) | (418) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on vehicle asset disposals | 105 | 181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on change in fair value of the 2021 Notes | 26800 | 24999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net | 968 | 686 |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | (6328) | (3992) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | 8411 | (16286) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (2880) | (2091) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued and other liabilities | (15417) | (3308) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used by operating activities | (20615) | (22302) |
| Cash flows from investing activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of vehicle assets | (48438) | (52534) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of non-vehicle assets | (3101) | (4355) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used by investing activities | (51539) | (56889) |
| Cash flows from financing activities |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from exercises of stock options and other common stock issuances | 1912 | 3061 |
| &nbsp;&nbsp;&nbsp;Proceeds from exercises of common stock warrants |  | 208 |
| &nbsp;&nbsp;&nbsp;Settlement of promissory notes issued in exchange for the early exercise of stock options |  | 9100 |
| &nbsp;&nbsp;&nbsp;Deferred offering costs paid |  | (2839) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing activities | 1912 | 9530 |
| Effect of exchange rate changes on cash and cash equivalents, and restricted cash | 2751 | (1733) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net decrease in cash and cash equivalents, and restricted cash | (67491) | (71394) |
| Cash and cash equivalents, and restricted cash, beginning of period | 300332 | 415301 |
| Cash and cash equivalents, and restricted cash, end of period | $232841 | $343907 |
| Reconciliation of cash, cash equivalents, and restricted cash to the unaudited condensed consolidated balance sheets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $182302 | $261302 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted cash | 50539 | 82605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cash, cash equivalents, and restricted cash | $232841 | $343907 |

---

------

**NEUTRON HOLDINGS, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(in thousands)<br>(unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Supplemental disclosures of cash flow information |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid for: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes, net of refunds | $2375 | $1036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | 2836 | 2836 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-cash investing and financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment financed by accounts payable and accrued expenses | 12377 | 26389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred offering costs not yet paid |  | 1593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consideration for promissory note settlement in the form of common stock |  | 890 |

---

*The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.*

------

**NEUTRON HOLDINGS, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br>(unaudited)** 

**NOTE 1. DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

***Description of Business***

Neutron Holdings, Inc. (the "Company" or "Lime") was incorporated in Delaware on January 3, 2017, and is headquartered in San Francisco, California. Lime is a micromobility company that provides rentals of shared electric scooters ("e-scooters") and electric bicycles ("e-bikes") through its platform (the "Rider App") to be used for short distances in various cities and municipalities around the world.

***Basis of Presentation***

The unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") and include the accounts of the Company and its majority owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

***Going Concern***

The unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business. As of March 31, 2026, the Company had cash and cash equivalents of approximately $261.3 million. In addition, the Company has principal payments on convertible notes and term loan of approximately $845.8 million due within twelve months from the issuance of these unaudited condensed consolidated financial statements and it does not currently have sufficient liquidity to repay them. These conditions raise substantial doubt about the Company's ability to continue as a going concern for at least one year from issuance of these unaudited condensed consolidated financial statements. The Company's ability to continue as a going concern is dependent upon the consummation of an initial public offering, the ability to obtain necessary financing to meet its obligations, or the ability to obtain acceptable terms upon an amendment of its convertible notes. If additional equity or debt financing is required from outside sources, the Company may not be able to obtain additional liquidity on terms acceptable to it or at all. If the Company is unable to raise additional capital on acceptable terms when needed, its results of operations and financial condition would be materially and adversely affected.

As a result of the above, management has determined that substantial doubt exists about the Company's ability to continue as a going concern through twelve months from the date these unaudited condensed consolidated financial statements are available to be issued. These unaudited condensed consolidated financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

***Unaudited Condensed Consolidated Financial Statements***

The condensed consolidated balance sheet as of March 31, 2026, and the condensed consolidated statements of operations, comprehensive loss, convertible preferred stock and stockholders' deficit and cash flows for the three months ended March 31, 2025 and 2026 are unaudited. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect, in the opinion of management, all adjustments of a normal and recurring nature that are necessary for the fair statement of the Company's financial position as of March 31, 2026 and its results of operations, comprehensive loss, convertible preferred stock and stockholders' deficit and cash flows for the three months ended March 31, 2025 and 2026. The financial data and the other financial information disclosed in these notes to the unaudited condensed consolidated financial statements related to the three-month periods are also unaudited. The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the results to be expected for the year ending December 31, 2026 or for any other future annual or interim period, due to seasonality and other factors. The balance sheet as of December 31, 2025 included herein was derived from the audited financial statements as of that date. These unaudited condensed consolidated financial

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statements should be read in conjunction with the Company's audited consolidated financial statements included elsewhere in this prospectus.

***Use of Estimates***

The preparation of these unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions, which affect the reported amounts in the financial statements and accompanying notes. Management evaluates its estimates and assumptions on an ongoing basis and makes adjustments when facts and circumstances dictate. The most significant estimates include the selection of useful lives of vehicle assets, the determination of the claims reserve, the determination of fair value of the Company's common stock, fair value of financial instruments and the excess and obsolescence reserve on capitalized spare parts. The Company's operations and financial performance mean that these estimates may change in future periods, as new events occur, and additional information is obtained. These estimates are based on information available as of the date of these unaudited condensed consolidated financial statements; therefore, actual results could differ from estimates.

***Partial Recourse Notes and Early Exercises***

During the year ended December 31, 2020 and prior, the Company issued promissory notes to certain executives and key employees in the aggregate principal amount of $38.6 million, in exchange for the early exercise of 626,304,993 stock options. The promissory notes represent the aggregate exercise price of the early exercised stock options and carry original stated interest rates ranging from 0.41% to 0.45% per annum. The principal amounts and accrued interest are generally due upon the earlier of: (i) maturity dates ranging from the 7th to 10th anniversary of the note's issuance, (ii) any transfer of the shares securing the promissory note or (iii) the completion of an IPO. All promissory notes issued were partially collateralized by the shares issued in exchange for the note on a non-pro rata basis and were considered nonrecourse notes in their entirety. As such, the shares issued are not considered "exercised" for accounting purposes until the notes are repaid and the underlying stock options have vested. The nonrecourse notes are not recorded on the condensed consolidated balance sheets since the arrangement is, in substance, a stock option. The shares are included in the legally issued and outstanding shares of common stock on the condensed consolidated balance sheets and in the condensed consolidated statements of convertible preferred stock and stockholders' deficit.

In February and March 2026, certain promissory note holders made cash payments of $9.1 million, in the aggregate, to the Company, to settle outstanding principal and accrued interest, of the same amount, on their promissory notes. Since the promissory note arrangements are, in substance, stock options, the cash payments to settle the promissory notes are considered an exercise of the stock options for 111,636,627 shares of common stock with a corresponding offset to additional paid-in capital.

In March 2026, a promissory note holder surrendered to the Company 15,635,332 shares of common stock of the Company to settle the remaining $0.9 million of outstanding principal and accrued interest on their promissory note related to the exercise of stock options for 112,013,462 shares of common stock.

In March 2026, the Company repurchased 260,286,484 shares of common stock, originally pledged as security subject to repayment of certain promissory notes. The repurchase settled $19.9 million of outstanding principal and accrued interest on certain promissory notes at maturity. Since the promissory note arrangements are, in substance, stock options, the repurchase of common stock to settle the promissory notes at maturity is considered an expiration of the stock options. In connection with the transaction, the Company elected to pay $1.6 million in tax withholding obligations on behalf of select note holders, which is reflected as selling, general and administrative expense on the unaudited condensed consolidated statement of operations in the respective period.

As of December 31, 2025 and March 31, 2026, the principal amount of $34.5 million and $7.1 million, respectively, and related accrued interest of $2.6 million and $0.4 million, respectively, remained

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outstanding on promissory notes. As of December 31, 2025 and March 31, 2026, there were 571,304,993 and 87,368,420 shares issued that are pledged as security subject to repayment of the notes.

***Concentrations of Credit Risk***

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, trade accounts receivable, and supplier purchases.

Significant customers are those which represent more than 10% of the Company's total revenue or gross accounts receivable balance at each balance sheet date. During the three months ended March 31, 2025 and 2026, no customers accounted for 10% or more of total revenue. As of December 31, 2025 and March 31, 2026, the Company had a third-party PSP that accounted for 83.9% and 87.1% of accounts receivable, respectively.

As discussed in Note 13 – Related Party Transactions, the Company has an agreement with Uber which allows riders to access the Company's vehicles through mobile applications distributed by Uber and/or its subsidiaries. Revenue earned through this agreement was approximately 14.5% and 14.0% of total revenue during the three months ended March 31, 2025 and 2026, respectively. Accounts receivable from Uber was 6.7% and 5.5% of accounts receivable as of December 31, 2025 and March 31, 2026, respectively.

Significant vendors are those which represent more than 10% of the Company's total purchases. During the three months ended March 31, 2025 and 2026, the Company had 0 and 1 significant vendors, respectively.

***Revenue Recognition***

The Company generates revenue from providing seamless, on-demand access to its network of e-scooters and e-bikes through two pricing models: either "Pay-As-You-Go" or LimePass.

*Lease Revenue*

Pay-As-You-Go allows riders to pay for usage based on the duration per session. The single-use rental of the Company's vehicles by riders are considered operating leases pursuant to ASC 842, under which the Company is the lessor. The Company has fixed lease payments, in the form of unlock fees that are fixed charges to access the vehicles, and variable lease payments, in the form of per minute usage fees. The Company treats any credit, coupon, or rider incentives as a reduction to the revenue for the ride in the period to which it relates. As the lease term is less than one day, the Company recognizes fixed lease payments (i.e., the unlock fees) and variable lease payments (i.e., usage minus lease incentives), at the time the ride is complete, on the same day the lease commenced.

*Revenue from Contracts with Customers*

The Company also recognizes revenue pursuant to ASC 606, *Revenue from Contracts with Customers*. This primarily relates to LimePass which consists of minute bundles and LimePrime. Minute bundles allow for the purchase of discounted ride minutes, offered at different increments, which can be used across multiple rides for a period of time ranging from 1 to 30 days. LimePrime is a recurring monthly subscription that provides riders with benefits such as free unlocks and extended vehicle reservations. In addition, starting in the first quarter of 2026, the Company rolled out a new LimePrime option for unlimited flat-rate rides, up to 20 minutes each.

The services provided by the Company that are based on usage, such as minute bundles, are recognized using an output method, generally as the minutes are used, as this reflects the pattern of transfer for these services.

The services provided by the Company for fixed monthly subscriptions, such as LimePrime, are considered stand-ready performance obligations where riders benefit from the services evenly throughout

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the service period. Revenue is recognized on a ratable basis over the contractual period of the arrangement beginning when or as control of the promised services is transferred to the customer as this reflects the pattern of transfer for these services.

The Company also estimates the portion of customer rights that will never be redeemed ("breakage") and for which there is no legal obligation to remit the value of the unredeemed balance to the relevant jurisdiction as unclaimed or abandoned property. To the extent the Company has a basis for estimating breakage, the Company will recognize the breakage amounts as revenue, proportionate to the pattern of rights exercised by the customer. However, as the Company does not have a basis for estimating breakage, the Company will recognize breakage revenue when the likelihood of customer redemption, based on historical experience or long periods of inactivity, is remote.

The Company's revenue contracts do not result in significant obligations associated with returns, refunds or warranties. The Company's payment terms are generally fixed and do not include variable revenues or consideration. LimePass arrangements are paid in advance resulting in a contract liability.

*Disaggregated Revenue*

Total revenues disaggregated between lease revenue and revenue from contracts with customers are as follows (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Lease revenue | $94059 | $123552 |
| Revenue from contracts with customers | 34956 | 46598 |
| Total revenue | $129015 | $170150 |

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For both lease revenue and revenue from contracts with customers, the Company excludes all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue producing transaction and collected by the Company from a customer and remitted to governmental authorities. Accordingly, such amounts are not included as a component of revenue or cost of revenue.

***Stock-Based Compensation***

Stock-based compensation expense is measured and recorded based on the grant-date fair value of the stock-based awards. The fair value of the shares of common stock underlying the stock options and restricted stock units ("RSUs") on the grant date has been determined by the board of directors, as there is no public market for the underlying common stock. The Company recognizes stock-based compensation expense for service-based awards on a straight-line basis over the requisite service period of the individual grant, generally equal to the vesting period. The Company records forfeitures as they occur.

The Company uses the Black-Scholes-Merton option-pricing model ("Black-Scholes model") to determine the fair value of stock option awards. The Black-Scholes model requires the use of objective and subjective assumptions, including the fair value of common stock, expected volatility, risk free interest rate, expected dividend and option's expected term of the underlying stock.

The Company estimates the fair value of RSUs based on the fair market value of the Company's common stock on the date of grant. The RSUs granted by the Company include both a service-based and performance-based liquidity event vesting condition. Compensation cost related to these RSUs must be recognized over the requisite service period using the accelerated attribution method, if it is probable that the performance-based liquidity event vesting condition will be satisfied. The performance-based condition is satisfied upon the consummation of the qualifying liquidity event, which is the earlier of an initial public offering ("IPO"), a direct listing, or a sale event.

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***Deferred Offering Costs***

Deferred offering costs, which consist of direct incremental legal, accounting, consulting and other fees relating to an initial public offering are capitalized. The deferred offering costs will be offset against initial public offering proceeds upon the consummation of the initial public offering. In the event the planned initial public offering is terminated, the deferred offering costs will be expensed. As of December 31, 2025 and March 31, 2026, there were $7.7 million and $9.3 million, respectively, of deferred offering costs recorded within prepaid expenses and other current assets on the unaudited condensed consolidated balance sheet.

***Recent Accounting Pronouncements Not Yet Adopted***

In December 2023, the FASB issued ASU 2023-09, *Income Taxes (Topic 740): Improvements to Income Tax Disclosures*, which improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. This new standard is effective for the Company's annual period beginning January 1, 2026. Upon adoption, the guidance can be applied prospectively or retrospectively. The Company is currently evaluating the impact of the guidance on the consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, *Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses* ("ASU 2024-03"). ASU 2024-03 requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions within the income statement. In January 2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) Clarifying the Effective Date. The amendments in this update may be applied either prospectively or retrospectively, and are effective for fiscal years beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. The Company is evaluating the impact that this guidance will have on its consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU 2025-06, *Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software* ("ASU 2025-06"). ASU 2025-06 modernizes the accounting for costs related to internal-use software in ASC 350-40 to reflect the software development approaches currently used. Specifically, the FASB observed that software is not always developed in a linear manner, which is an underlying tenet of the existing internal-use software capitalization framework. To clarify how the guidance applies to both linear and nonlinear software development, the ASU removes all references to "development stages" from ASC 350-40 and changes the criteria to determine when development cost capitalization should begin. The amendments in this ASU are effective for fiscal years beginning after December 15, 2027, with early adoption permitted. Entities are permitted to apply the ASU on a prospective, retrospective or modified transition approach. The Company is currently evaluating the impact of adopting this new accounting guidance on its consolidated financial statements and related disclosures.

**NOTE 2. FAIR VALUE MEASUREMENTS**

The carrying amounts of certain of the Company's financial instruments, including cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable and accrued expenses, approximate their fair values due to their short-term maturities.

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The fair value measurements of financial instruments that are measured at fair value on a recurring basis consisted of the following (in thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Liabilities |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 Notes | $— | $— | $660324 | $660324 | $— | $— | $682934 | $682934 |
| Total Liabilities | $— | $— | $660324 | $660324 | $— | $— | $682934 | $682934 |

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The Company did not make any transfers between the levels of the fair value hierarchy during the periods presented.

As of December 31, 2025 and March 31, 2026, the 2021 Notes total contractual principal and accrued in kind interest amounted to $525.5 million and $536.1 million, respectively, resulting in a difference between the aggregate fair value and the aggregate unpaid balance of $134.9 million and $146.8 million, respectively.

A summary of the net changes in the fair value of the 2021 Notes was as follows (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Balance, beginning of period | $544106 | $660324 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair value loss recognized in other expense, net | 26800 | 24999 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair value gain recognized in other comprehensive loss | (2785) | (2389) |
| Balance, end of period | $568121 | $682934 |

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The Company issued warrants to purchase shares of the Company's Series B convertible preferred stock which are recognized in other long-term liabilities on the unaudited condensed consolidated balance sheets, as the convertible preferred shares underlying the warrants are contingently redeemable for cash. The convertible preferred stock warrants are remeasured to fair value each reporting period based on unobservable Level 3 inputs. The fair value of the warrant and changes in fair value of the warrant for the three months ended March 31, 2025 and 2026 were not material.

Certain assets and liabilities are measured at fair value on a nonrecurring basis but are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment or when a new liability is being established that requires fair value measurement. The Company had no non-recurring fair value measurements during the three months ended March 31, 2025 and 2026.

**NOTE 3. PREPAID EXPENSES AND OTHER CURRENT ASSETS**

Prepaid expenses and other current assets consisted of the following (in thousands):

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| | | |
|:---|:---|:---|
| | **December 31, 2025** | **March 31, 2026** |
| Prepaid expenses | $27292 | $28348 |
| Spare parts, net | 20870 | 31590 |
| Value-added taxes receivable | 8953 | 8749 |
| Other current assets | 12060 | 14287 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $69175 | $82974 |

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**NOTE 4. PROPERTY AND EQUIPMENT, NET**

Property and equipment, net consisted of the following (in thousands):

---

| | | |
|:---|:---|:---|
| | **December 31, 2025** | **March 31, 2026** |
| Vehicle assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deployed vehicle assets | $491361 | $507885 |
| &nbsp;&nbsp;&nbsp;&nbsp;Undeployed vehicle assets | 21196 | 59218 |
| Non-vehicle assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized internal-use software | 82856 | 85377 |
| &nbsp;&nbsp;&nbsp;&nbsp;Leasehold improvements | 7488 | 9434 |
| &nbsp;&nbsp;&nbsp;&nbsp;Furniture and fixtures | 941 | 1219 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment | 1746 | 1835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total property and equipment | 605587 | 664968 |
| Accumulated vehicle asset depreciation | (275452) | (284172) |
| Accumulated non-vehicle asset depreciation & amortization | (75618) | (79963) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total property and equipment, net | $254517 | $300833 |

---

The following table presents amounts recognized in the unaudited condensed consolidated statements of operations related to property & equipment (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Vehicle asset depreciation expense | $23971 | $26384 |
| Non-vehicle asset depreciation and amortization expense | 4382 | 3956 |
| Loss on vehicle asset disposals | 105 | 181 |

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**NOTE 5. ACCRUED LIABILITIES**

Accrued liabilities consisted of the following (in thousands):

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| | | |
|:---|:---|:---|
| | **December 31, 2025** | **March 31, 2026** |
| Accrued purchases | $9625 | $27995 |
| Accrued operations related expenses | 29546 | 34724 |
| Short-term claims reserve | 14212 | 14132 |
| Accrued legal settlements | 4590 | 348 |
| Accrued escheatment | 12350 | 12917 |
| Accrued insurance | 9631 | 9620 |
| Other | 2107 | 2450 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total accrued liabilities | $82061 | $102186 |

---

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**NOTE 6. OTHER LONG-TERM LIABILITIES**

Other long-term liabilities consisted of the following (in thousands):

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| | | |
|:---|:---|:---|
| | **December 31, 2025** | **March 31, 2026** |
| Long-term claims reserve | $38227 | $42144 |
| Non-income tax reserves | 2984 | 1772 |
| Other | 4161 | 3902 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other long-term liabilities | $45372 | $47818 |

---

**NOTE 7. COMMITMENTS AND CONTINGENCIES**

***Letters of Credit***

The Company maintains various stand-by letters of credit and guarantees from third-party financial institutions in the ordinary course of business to guarantee performance obligations related to certain vehicle and battery manufacturing, real estate leases, insurance policies, and other contractual arrangements. The letters of credit are collateralized by restricted cash. As of December 31, 2025 and March 31, 2026, the Company had outstanding balances of $75.5 million and $82.6 million, respectively.

***Indemnification***

The Company has entered into indemnification provisions under agreements with other parties in the ordinary course of business, including governmental entities and other business partners. The Company has agreed to indemnify and defend the indemnified party's claims and related losses suffered or incurred by the indemnified party arising from actual or threatened third-party claims related to the Company's activities. It is not possible to determine the potential loss resulting from the contractual indemnification obligations because of the distinctive facts involved in any potential action arising from each indemnification provision. As of March 31, 2026, some contractual indemnification obligations were accrued with personal injury matters. See the "Personal Injury Matters" section below for more information.

The Company's Bylaws provide that it will indemnify directors and officers against certain costs and liabilities that may arise by reason of their status or service to the Company.

***Legal Proceedings***

The Company is currently involved in, and may in the future be involved in, legal proceedings, claims, regulatory inquiries, and governmental investigations in the ordinary course of business, which may include litigation by riders and third parties (individually or as class actions) alleging, but not limited to, various wage and expense claims, violations of state or federal laws, product liability and personal injury claims. The Company has determined that, except as disclosed below, no disclosure of estimated loss is required for these matters because: (1) there is not a reasonable possibility that a loss exceeding amounts already recognized (if any) may be incurred with respect to such matters (2) a reasonably possible loss or range of loss cannot be estimated, or (3) such estimate is immaterial.

Due to the inherent nature of litigation, the outcomes of the Company's current and potential future legal proceedings are not possible to predict with any certainty. For certain matters for which a material loss is probable and reasonably estimable, an estimate of the amount of loss is recorded in the unaudited condensed consolidated financial statements. Until there is finality to the resolution of the legal matters, the exposure to a loss individually, or in the aggregate may differ from the amount recorded. Legal fees are expensed as incurred.

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<u>Personal Injury Matters</u>

The Company is currently named as a defendant in a number of matters related to accidents or other incidents involving the use of its vehicles brought by riders and third parties. The Company disputes the allegations and continues to defend itself vigorously against such claims. The Company does not believe that these existing or threatened claims are individually likely to have a material impact on its business, financial condition or results of operations. Notwithstanding such, litigation and claims are inherently unpredictable, and legal proceedings arising from such incidents, individually or in the aggregate, could have a material impact on the Company's business, financial condition and results of operations. Additionally, despite the outcome, litigation may have an adverse impact to the Company because of defense and settlement costs individually and in the aggregate, including the diversion of management resources to defend such claims, and other factors.

As of December 31, 2025 and March 31, 2026, the Company had claims reserves of $52.4 million and $56.3 million, respectively, to cover the estimated costs for personal injury claims incurred but not paid and personal injury claims that have been incurred but not yet reported, as well as certain contractual indemnification obligations as described in the "Indemnification" section above. Additionally, as of December 31, 2025 and March 31, 2026, the Company has a reserve of $4.6 million and $0.3 million, respectively, to cover settled but unpaid claims.

<u>Non-Income Tax Matters</u>

The Company is under audit by various domestic and foreign tax authorities with regards to non-income tax matters. The Company accrues non-income taxes that may result from examinations by, or any negotiated agreements with, these tax authorities when a loss is probable and reasonably estimable. Due to the inherent complexity and uncertainty of these matters and judicial process in certain jurisdictions, the final outcome may be materially different from the Company's expectations.

**NOTE 8. CONVERTIBLE NOTES AND TERM LOAN**

***2021 Notes***

Between October and November 2021, the Company issued convertible secured promissory notes (the "2021 Notes") with an initial aggregate principal amount of $417.6 million and a maturity date of October 29, 2025. In October 2023, the maturity date was amended to October 29, 2026. The 2021 Notes initially accrued interest at a rate of 4.0% per annum, which increased by 0.5% in April 2023, by another 1.0% in October 2023, and by 1.0% semi-annually thereafter up to a maximum of 8.0%. At the election of the Company, interest is to be paid in cash or by increasing the principal amount of the 2021 Notes by payment in kind ("PIK interest"). The Company has elected to pay PIK interest.

The 2021 Notes contain various conversion options upon the occurrence of certain events such as an IPO, change of control, or equity financing. In the event of an IPO or change of control, the 2021 Notes will convert into common stock at a price per share limited to the lesser of (i) a range of 75% to 80% of the applicable transaction price per share of common stock and (ii) a cap price per share as defined in the note purchase agreement. In the event of an equity financing, the 2021 Notes will convert into the equity securities issued based on such equity securities' price per share in such financing. If the 2021 Notes have not been converted or otherwise settled at maturity, the principal plus a premium of 25% becomes due and payable at maturity. The 2021 Notes are secured by substantially all of the Company's assets.

***2020 Notes***

Between May and June 2020, the Company issued convertible secured promissory notes (the "2020 Notes") in the aggregate principal amount of $170.0 million. Of the aggregate principal amount, $85.0 million was issued to Uber (the "2020 Uber Note") and the remaining $85.0 million was issued to other investors (the "2020 Investor Notes"). The 2020 Notes accrue non-compounding interest at a fixed rate of 4.0% per annum and mature on May 7, 2027. Accrued interest either converts into common shares or

------

becomes payable in accordance with the conversion and settlement options described below. If not earlier converted, the principal and accrued interest of the 2020 Notes becomes due and payable at the maturity date.

The holders of the 2020 Investor Notes also received warrants to acquire a total of 194,741,402 shares of common stock at an exercise price of $0.0100 per share. The warrant has a term of seven years and may be exercised on a cashless basis at any time based on their fair market value at the time of conversion, in which event the Company will not receive any proceeds. The warrants were recorded as equity at their relative fair value of $0.8 million. The remaining $84.2 million of the proceeds received were allocated to the 2020 Investor Notes. See <u>[Note 10 - Warrants](#i2daaa9faa0b24be68f6320125a1b1051_13194139539296)</u> for more information.

At issuance, the total debt discount related to the 2020 Uber Note and 2020 Investor Notes was $0.4 million and $1.2 million, respectively. This amount is being amortized as additional interest expense over the term of the 2020 Notes using the effective interest rate method at an effective interest rate of 4.05%.

The 2020 Notes contain various conversion and settlement options: (i) conversion of the principal amount to Series 3 preferred stock (in the case of the 2020 Uber Note) or Series 2 preferred stock (in the case of the 2020 Investor Notes), with the accrued interest settled in cash or common stock at the Company's election; or (ii) in the event of a change of control of the Company or IPO, the principal amount and accrued interest will, at the election of the holder, either become due and payable or convert into common stock. The conversion price of the 2020 Notes is $0.0249 per share of common stock. The 2020 Notes are secured by substantially all of the Company's assets.

Several of the holders of the 2021 Notes and 2020 Notes are related parties of the Company. See Note 13 – Related Party Transactions for more information.

***Senior Secured Term Loan***

In October 2023, the Company entered into a senior secured term loan with certain lenders (the "Senior Secured Term Loan") with a principal amount of $115.0 million, an interest rate of 10.0% per annum and a maturity date of September 30, 2026, upon which the principal balance is due in full. The Company incurred debt issuance costs related to legal and underwriting fees of $2.2 million and was required to pay a closing fee of $2.3 million, all of which are being amortized to interest expense over the term of the loan.

The Company's obligations under the Senior Secured Term Loan are backed by a guaranty from Uber, a related party of the Company. The Senior Secured Term Loan is secured by substantially all of the Company's assets.

The Senior Secured Term Loan agreement and the note purchase agreements for the 2021 Notes and 2020 Notes contain customary covenants restricting the Company and its subsidiaries' ability to incur debt, incur liens, make investments, transfer assets and undergo certain fundamental changes, as well as certain financial covenants specified in the contractual agreement. As of March 31, 2026, the Company was in compliance with all covenants.

***Aggregate debt maturities and expenses***

As of March 31, 2026, future principal payments for the Company's convertible notes and term loan were as follows (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Convertible Notes** | **Term Loan** | **Total** |
| 2026 (remainder) | 560798 | 115000 | 675798 |
| 2027 | 169990 |  | 169990 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total future principal payments | $730788 | $115000 | $845788 |

---

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Future principal payments for convertible notes includes $143.2 million of PIK Interest on the 2021 Notes. Future principal payments for convertible notes does not include the premium of 25% on the 2021 Notes, that becomes due and payable at maturity.

The following table presents interest expense recognized related to the term loan and 2020 Notes (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Contractual interest on term loan | $2836 | $2836 |
| Contractual interest on 2020 Notes | 1700 | 1700 |
| Amortization of debt discount and issuance costs | 436 | 439 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $4972 | $4975 |

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**NOTE 9. STOCK-BASED COMPENSATION**

***Stock Options***

Stock option activity was as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Number of Shares** | **Weighted-Average Exercise Price Per Share** | **Weighted-Average Remaining Contractual Life**<br>**(in years)** | **Aggregate Intrinsic Value** <br>**(in thousands)** |
| Outstanding as of December 31, 2025 | 4526575344 | $0.0139 | 6.9 | $140335 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exercised | (141656405) | $0.0165 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Forfeited | (59324267) | $0.0150 |  |  |
| Outstanding as of March 31, 2026 | 4325594672 | $0.0138 | 6.6 | $186475 |
| Vested and exercisable as of March 31, 2026 | 3409198164 | $0.0129 | 6.3 | $150232 |
| Vested and expected to vest as of March 31, 2026 | 4325594672 | $0.0138 | 6.6 | $186475 |

---

The total fair value of shares vested during the three months ended March 31, 2025 and 2026, was $1.7 million and $9.2 million, respectively.

The aggregate intrinsic value of stock options exercised during the three months ended March 31, 2025 and 2026, was $1.6 million and $5.6 million, respectively.

As of December 31, 2025 and March 31, 2026, the Company had zero unvested early exercised shares. As of December 31, 2025 and March 31, 2026, the Company also had 571,304,993 and 87,368,420 shares issued that remain subject to repayment of nonrecourse notes.

As of March 31, 2026, total compensation cost not yet recognized related to unvested stock options was $9.6 million, which is expected to be recognized over a weighted-average period of 1.1 years.

As of March 31, 2026, the Company had limited options outstanding subject to performance and market conditions. No stock-based compensation expense for these awards has been recorded as the performance conditions are not deemed probable of being met. Total compensation cost not yet recognized related to these awards was immaterial as of March 31, 2026.

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***RSUs***

The Company grants RSUs that generally vest upon the satisfaction of both a time-based service requirement and a performance-based liquidity event requirement. The service-based condition is satisfied equally over 12 quarters, provided the grantee remains in continuous service. The performance-based condition is satisfied upon the consummation of the qualifying liquidity event, which is the earlier of an initial public offering ("IPO"), a direct listing, or a sale event.

In March 2026, the Board of Directors approved the accelerated vesting of 10,946,713 RSUs as of the approval date. The modification resulted in a stock-based compensation expense of approximately $0.6 million within selling, general and administrative expense on the unaudited condensed consolidated statement of operations. The Company issued 7,635,332 shares of its common stock (after withholding 3,311,381 shares of common stock for satisfaction of related tax withholding obligations).

The following table summarizes the activity related to RSUs for the three months ended March 31, 2026:

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| | | |
|:---|:---|:---|
| | **Number of Shares** | **Weighted-Average Grant-Date Fair Value Per Share** |
| Unvested and Outstanding as of December 31, 2025 | 1184561644 | $0.0286 |
| Granted | 980797923 | 0.0590 |
| Vested | (10946713) | 0.0207 |
| Forfeited | (40260417) | 0.0299 |
| Unvested and Outstanding as of March 31, 2026 | 2114152437 | 0.0427 |

---

The Company determines the grant-date fair value of these RSUs based on the market price of its common stock on the date of grant. The Company does not recognize stock-based compensation expense for these awards until the performance condition is deemed probable of achievement, which occurs upon the consummation of the qualifying liquidity event.

Of the RSUs outstanding as of March 31, 2026, 287,315,852 had met their service condition. If the performance vesting condition had been met on March 31, 2026, the Company would have recorded stock-based compensation of $19.2 million and unrecognized stock-based compensation related to the unvested RSUs as of March 31, 2026 would have been $71.1 million, and that would have been recognized over a weighted-average remaining requisite service period of 1.2 years.

***Stock-Based Compensation Expense***

The Company recorded stock-based compensation expense in the unaudited condensed consolidated statements of operations as follows (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Cost of revenue | $9 | $5 |
| Selling, general and administrative | 1588 | 1706 |
| Operations and support | 372 | 194 |
| Research and development | 1183 | 737 |
| Total stock-based compensation expense | $3152 | $2642 |

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The Company capitalized $0.3 million and $0.1 million of stock-based compensation expense in software development costs for the three months ended March 31, 2025 and 2026, respectively.

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**NOTE 10. WARRANTS**

As of December 31, 2025 and March 31, 2026, the following warrants were outstanding:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Issued in connection with** | **Warrant Shares** | **Exercise Price Per Share** | **Number of Warrant Shares Outstanding as of 12/31/2025** | **Number of Warrant Shares Outstanding as of 3/31/2026** | **Expiration date** |
| Common Stock Warrants: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Atel Loan Agreement | 13981000 | $0.0211 | 13981000 | 13981000 | January 2028 |
| &nbsp;&nbsp;&nbsp;SVB Loan Agreement | 1010900 | 0.0211 | 1010900 | 1010900 | January 2028 |
| &nbsp;&nbsp;&nbsp;BMO Credit Agreement | 5119454 | 0.1172 | 5119454 | 5119454 | March 2030 |
| &nbsp;&nbsp;&nbsp;2020 Investor Notes | 194741402 | 0.0100 | 175850440 | 155012054 | May - June 2027 |
| Preferred Stock Warrants: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Uber Integration Agreement (Series 1-C) | 550757395 | $0.0001 |  |  | May 2025 |
| &nbsp;&nbsp;&nbsp;TriplePoint Loan Agreement (Series B) | 7845200 | 0.0669 | 7845200 | 7845200 | March 2028 |

---

During the three months ended March 31, 2026, the Company issued 20,838,386 shares of common stock upon the exercise of common stock warrants, issued in connection with the 2020 Investor Notes, for an aggregate exercise price of $0.2 million.

**NOTE 11. OTHER EXPENSE, NET**

The components of other expense, net were as follows (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Loss on change in fair value of the 2021 Notes | $(26800) | $(24999) |
| Foreign currency exchange (losses) gains, net | 7571 | (3243) |
| Interest income | 2137 | 2891 |
| Other gains, net | 10 | 112 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other expense, net | $(17082) | $(25239) |

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**NOTE 12. INCOME TAXES**

The Company's tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that arise during the period. Each quarter, the Company updates its estimate of the annual effective tax rate and, if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment to tax expense or benefit in the period.

The Company recorded a $2.3 million and $1.9 million provision for income taxes for the three months ended March 31, 2025 and 2026, respectively. The effective tax rate was (4.4)% and (3.1)% for the three months ended March 31, 2025 and 2026, respectively. The effective tax rate differs from the U.S. statutory tax rate primarily due to the valuation allowances on the Company's deferred tax assets as it is more likely than not that some or all of the Company's deferred tax assets will not be realized.

**NOTE 13. RELATED PARTY TRANSACTIONS**

***Uber***

The Company entered into an Integration Agreement with Uber, an investor who owns greater than 10% of the Company, dated August 10, 2018, as amended from time to time and most recently amended and restated as of September 15, 2025. The Integration Agreement allows riders to access the

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Company's vehicles through mobile applications distributed by Uber and/or its subsidiaries. The Integration Agreement is currently effective through December 31, 2028. The Company receives revenue for these bookings and pays Uber a service fee in exchange. The revenue recognized through the Integration Agreement consists solely of lease revenue. Service fees are recorded in cost of revenue in the unaudited condensed consolidated statements of operations. As a result of the Integration Agreement, Uber also received common stock warrants in 2018.

The total revenue earned through and related service fees charged from the Integration Agreement were as follows (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Revenue earned | $18695 | $23750 |
| Service fees paid | 2147 | 2639 |

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The Company received funding from Uber in the form of the 2020 Uber Note and as part of the 2021 Notes, as discussed in Note 8 – Convertible Notes and Term Loan.

The Company and Uber are also party to the Amended Warrant Agreement, as discussed in Note 10 – Warrants.

The Company and Uber were also party to a Call Option Agreement dated May 7, 2020. The Call Option Agreement gave Uber the option to acquire all of the outstanding securities of the Company at fair market value. Uber did not exercise the call option, and it expired on May 7, 2024.

***Other Related Parties***

As discussed in Note 1 – Description of Business and Summary of Significant Accounting Policies, the Company issued promissory notes to certain current and former members of management in connection with the exercise of Company stock options.

The Company entered into a Note and Warrant Purchase Agreement with Andreessen Horowitz, an investor who owns greater than 10% of the Company, dated as of May 7, 2020, by and among the Company and the Lenders (as defined therein), and the convertible secured promissory note issued to funds affiliated with Andreessen Horowitz, thereunder. See Note 8 – Convertible Notes and Term Loan for additional information.

The Company entered into a Senior Secured Term Loan with Diameter, which was guaranteed by an affiliate company, dated as of October 5, 2023. See Note 8 – Convertible Notes and Term Loan for additional information.

**NOTE 14. NET LOSS PER SHARE**

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Net loss attributable to common stockholders | $(55964) | $(61286) |
| Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders, basic and diluted | 6327468113 | 6808690993 |
| Net loss per share attributable to common shareholders, basic and diluted | $(0.01) | $(0.01) |

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The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share as the effect would have been antidilutive:

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Stock options | 5065515434 | 4325594672 |
| Early exercised stock options | 571304993 | 87368420 |
| RSUs | 694540692 | 2114152437 |
| Warrants for common stock | 195961794 | 175123408 |
| Warrants convertible for preferred stock (Uber Integration Agreement) | 550757395 |  |
| Warrants convertible for preferred stock (TriplePoint Loan Agreement) | 7845200 | 7845200 |
| 2020 Notes | 8447193347 | 7546107399 |
| Convertible preferred stock | 4097181008 | 4647938403 |
| Total | 19630299863 | 18904129939 |

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The 2021 Notes are only convertible upon the occurrence of certain events such as an IPO, change of control, or equity financing. The conversion price depends on the price of the equity securities issued in such events and the Company's capitalization at the time. As such, the conversion price and number of underlying shares for the 2021 Notes cannot be determined until a conversion-triggering event occurs. See Note 8 – Convertible Notes and Term Loan for additional information.

**NOTE 15. SEGMENTS**

***Operating Segments***

The following table shows segment revenue, significant segment expenses, and the segment profit or loss measure for each financial statement period (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Revenue | $129015 | $170150 |
| Significant segment expenses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 28353 | 30340 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 3152 | 2642 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of revenue<sup>(a)</sup> | 72641 | 96123 |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative<sup>(a)</sup> | 33484 | 42839 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operations and support<sup>(a)</sup> | 11448 | 12912 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development<sup>(a)</sup> | 11359 | 14326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total segment expenses | 160437 | 199182 |
| Operating loss | (31422) | (29032) |
| Interest expense | (5123) | (5159) |
| Other expense, net | (17082) | (25239) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (53627) | (59430) |
| Provision for income taxes | 2337 | 1856 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(55964) | $(61286) |

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__________________

(a)Exclusive of stock-based compensation and depreciation and amortization shown separately.

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***Geographic Region Information***

The following tables set forth revenue and long-lived assets, net by geographic area (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| United States of America | $37286 | $49989 |
| United Kingdom | 31584 | 39299 |
| France | 11691 | 13522 |
| Other | 48454 | 67340 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | $129015 | $170150 |

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| | | |
|:---|:---|:---|
| | **December 31, 2025** | **March 31, 2026** |
| United States of America | $106710 | $132759 |
| United Kingdom | 35941 | 36679 |
| Germany | 35606 | 36044 |
| Other | 106212 | 129219 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total long-lived assets, net | $284469 | $334701 |

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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;Shares

**Neutron Holdings, Inc.**

Common Stock

![limelogob.jpg](limelogob.jpg)

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| | | |
|:---|:---|:---|
| **Goldman Sachs & Co. LLC** | **J. P. Morgan** | **Jefferies** |
| **Evercore ISI** | **Citizens Capital Markets** | **KeyBanc Capital Markets** |

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| | |
|:---|:---|
| **Needham & Company** | **William Blair** |

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**PART II**

**INFORMATION NOT REQUIRED IN PROSPECTUS**

**Item 13. Other Expenses of Issuance and Distribution**

The following table sets forth the costs and expenses, other than underwriting discounts and commissions, payable by the registrant in connection with the sale of the common stock being registered. All amounts are estimates except for the Securities and Exchange Commission (the "SEC") registration fee, the Financial Industry Regulatory Authority ("FINRA") filing fee and The Nasdaq Global Select Market ("Nasdaq") listing fee.

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| | |
|:---|:---|
| | **Amount 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 | \* |
| Nasdaq listing fee | \* |
| Transfer agent's fees and expenses | \* |
| Printing and engraving expenses | \* |
| Legal fees and expenses | \* |
| Accounting fees and expenses | \* |
| Blue Sky fees and expenses | \* |
| Miscellaneous expenses | \* |
| &nbsp;&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 completed by amendment.

**Item 14. Indemnification of Directors and Officers**

Section 145 of the Delaware General Corporation Law provides that a corporation may indemnify directors and officers as well as other employees and individuals against expenses (including attorneys' fees), judgments, fines, and amounts paid in settlement actually and reasonably incurred by such person in connection with any threatened, pending, or completed actions, suits, or proceedings in which such person is made a party by reason of such person being or having been a director, officer, employee, or agent to the registrant. The Delaware General Corporation Law provides that Section 145 is not exclusive of other rights to which those seeking indemnification may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise. Article 9 of the registrant's amended and restated certificate of incorporation, to be in effect immediately prior to the completion of this offering, provides for indemnification by the registrant of its directors, officers and employees to the fullest extent permitted by the Delaware General Corporation Law. The registrant has entered or will enter into indemnification agreements with each of its current directors, executive officers, and certain other officers to provide these directors and officers additional contractual assurances regarding the scope of the indemnification set forth in the registrant's amended and restated certificate of incorporation and amended and restated bylaws, each to be in effect immediately prior to the completion of this offering, 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.

Section 102(b)(7) of the Delaware General Corporation Law permits a corporation to provide in its certificate of incorporation that a director or officer 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 or officer, except for liability (i) for any breach of the director's or officer's duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) for unlawful payments of dividends or unlawful stock repurchases, redemptions or other distributions or (iv) for any transaction from which the director or officer derived an

------

improper personal benefit. The registrant's amended and restated certificate of incorporation, to be in effect immediately prior to the completion of this offering, provides for such limitation of liability.

The registrant maintains standard policies of insurance under which coverage is provided (a) to its directors and officers against loss rising from claims made by reason of breach of duty or other wrongful act and (b) to the registrant with respect to payments that may be made by the registrant to such officers and directors pursuant to the above indemnification provision or otherwise as a matter of law.

The proposed form of underwriting agreement to be filed as Exhibit 1.1 to this registration statement provides for indemnification of directors and officers of the registrant by the underwriters against certain liabilities.

**Item 15. Recent Sales of Unregistered Securities**

Since January 1, 2023, the registrant made sales of the following unregistered securities:

***Option and Common Stock Issuances***

Since January 1, 2023, the registrant granted to its employees, consultants and other service providers options to purchase an aggregate of 5,836,295,962 shares of its common stock under its equity compensation plan, at exercise prices ranging from $0.0122 to $0.0287 per share.

Since January 1, 2023, the registrant issued and sold to its employees, consultants and other service providers an aggregate of 1,104,742,034 shares of its common stock upon the exercise of stock options under its equity compensation plan, at exercise prices ranging from $0.0078 to $0.1013 per share, for a weighted-average exercise price of $0.0123.

Since January 1, 2023, the registrant granted to its employees, consultants and other service providers restricted stock units covering an aggregate of 2,227,831,576 shares of its common stock under its equity compensation plan.

Since January 1, 2023, 7,635,332 shares of our common stock were issued to our chief executive officer and member of our board of directors pursuant to restricted stock units, for which the service-based vesting condition was satisfied as of December 31, 2025 and for which the liquidity-based vesting condition was accelerated and deemed satisfied as of March 2026.

In March 2023, the registrant effected a repricing of outstanding and unexercised options to purchase an aggregate of 1,995,125,255 shares of its common stock, to an exercise price of $0.0122 per share. To effect such option repricing, all such outstanding stock options were amended solely to reduce the exercise price to $0.0122 per share; the amended options otherwise continued to have all the same terms and conditions under which they were granted, including the number of underlying shares of the registrant's common stock and the expiration date.

In March 2025, the registrant issued to one accredited investor 550,757,395 shares of the registrant's Series 1-C preferred stock upon the exercise of a warrant at an exercise price of $0.0001 per share, for an aggregate purchase price of approximately $55,076.

In March 2026, the registrant issued 19,580,482 shares of its common stock pursuant to an exercise of 19,580,482 warrants at an exercise price of $0.0001, for an aggregate purchase price of approximately $0.2 million.

The registrant believes these offers, sales, and issuances were exempt from registration under the Securities Act in reliance upon Section 4(a)(2) of the Securities Act or Regulation D promulgated thereunder, or Rule 701 promulgated under the Securities Act as transactions by an issuer not involving a 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. All recipients had adequate access, through their relationships with the registrant, to information about the registrant.

**Item 16. Exhibits and Financial Statement Schedules**

See the Exhibit Index attached to this registration statement, which Exhibit Index is incorporated herein by reference.

Schedules not listed above have been omitted because the information required to be set forth therein is not applicable or is shown in the financial statements or notes thereto.

**Item 17. Undertakings**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)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 hereunder, 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 of 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The undersigned registrant hereby undertakes that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)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.

------

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Exhibit Description** |
| 1.1\* | Form of Underwriting Agreement |
| 3.1 | <u>[Ninth Amended and Restated Certificate of Incorporation, as currently in effect and as amended from time to time](exhibit31-sx1.htm)</u> |
| 3.2\* | Form of Amended and Restated Certificate of Incorporation, to be in effect immediately prior to the completion of this offering |
| 3.3 | <u>[Fourth Amended and Restated Bylaws, as currently in effect and as amended from time to time](exhibit33-sx1.htm)</u> |
| 3.4\* | Form of Amended and Restated Bylaws, to be in effect immediately prior to the completion of this offering |
| 4.1\* | Form of Common Stock Certificate |
| 4.2^† | <u>[Investors' Rights Agreement, dated May 7, 2020, by and among the registrant and the investors listed therein](exhibit42-sx1.htm)</u> |
| 4.3 | <u>[Note Purchase Agreement, dated May 7, 2020, by and between the registrant and Uber Technologies, Inc., as amended from time to time, and form of Convertible Secured Promissory Note thereunder](exhibit43-sx1.htm)</u> |
| 4.4 | <u>[Note and Warrant Purchase Agreement, dated May 7, 2020, by and between the registrant and the lenders named therein, as amended from time to time, and form of Convertible Secured Promissory Note thereunder and form of Warrant to Purchase Shares of Common Stock thereunder](exhibit44-sx1.htm)</u> |
| 4.5 | <u>[Note Purchase Agreement, dated October 29, 2021, by and among the registrant, the investors named therein and Wilmington Savings Fund Society, FSB, as collateral agent, as amended from time to time, and form of Secured Convertible Promissory Note thereunder](exhibit45-sx1.htm)</u> |
| 4.6^ | <u>[Plain English Warrant Agreement, dated March 29, 2018, by and between the registrant and TriplePoint Capital LLC](exhibit46-sx1.htm)</u> |
| 5.1\* | Opinion of Latham & Watkins LLP |
| 10.1# | <u>[2017 Stock Incentive Plan, as amended, and forms of agreements thereunder](exhibit101-sx1.htm)</u> |
| 10.2#\* | 2026 Incentive Award Plan, and forms of agreements thereunder |
| 10.3#\* | 2026 Employee Stock Purchase Plan |
| 10.4#\* | Non-Employee Director Compensation Program |
| 10.5#\* | Form of Indemnification Agreement by and between the registrant and each of its directors and executive officers |
| 10.6#\* | Amended and Restated Offer Letter by and between the registrant and Wayne Ting, dated&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2026 |
| 10.7#\* | Amended and Restated Offer Letter by and between the registrant and Ann Gugino, dated&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2026 |
| 10.8# | <u>[Board Services Agreement by and between the registrant and Zhoujia Bao, dated October 18, 2025](exhibit108-sx1.htm)</u> |
| 10.9# | <u>[Offer Letter by and between the registrant and Brandon Pedersen, dated July 14, 2025](exhibit109-sx1.htm)</u> |
| 10.10# | <u>[Offer Letter by and between the registrant and James Rowan, dated August 7, 2025](exhibit1010-sx1.htm)</u> |
| 10.11# | <u>[O](exhibit1011-sx1.htm)[ffer Letter by and between the registrant and Eli](exhibit1011-sx1.htm)[zabeth Hamren, dated March](exhibit1011-sx1.htm)[27](exhibit1011-sx1.htm)[, 2026](exhibit1011-sx1.htm)</u> |
| 10.12 | <u>[Credit Agreement, dated October 5, 2023, by and among the registrant, as borrower, the lenders party thereto from time to time, as lender, Alter Domus (US) LLC, as initial administrative agent, and Diameter Finance Administration LLC, as collateral agent, as amended from time to time](exhibit1012-sx1.htm)</u> |
| 10.13^ | <u>[Guaranty, dated October 5, 2023, by Uber Technologies, Inc. in favor of and for the benefit of Alter Domus (US) LLC, as initial administrative agent, and Diameter Finance Administration LLC, as collateral agent](exhibit1013-sx1.htm)</u> |

---

------

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Exhibit Description** |
| 10.14^† | <u>[Restated](exhibit1014-sx1.htm)[License and Integration Agreement, dated](exhibit1014-sx1.htm)[September 15](exhibit1014-sx1.htm)[,](exhibit1014-sx1.htm)[2025](exhibit1014-sx1.htm)[, by and among the registrant, Uber Technologies, Inc., and other parties thereto, as amended from time to time](exhibit1014-sx1.htm)</u> |
| 10.15 | <u>[Side Letter, dated October 4, 2023, by and among the registrant and Uber Technologies, Inc.](exhibit1015-sx1.htm)</u> |
| 10.16^ | <u>[Lease Agreement, dated November 12, 2025](exhibit-1016xsx1.htm)</u> |
| 21.1 | <u>[List of subsidiaries](exhibit211-sx1.htm)</u> |
| 23.1 | <u>[Consent of KPMG LLP, independent registered public accounting firm](exhibit231-sx1.htm)</u> |
| 23.2\* | Consent of Latham & Watkins LLP (included in Exhibit 5.1) |
| 24.1 | <u>[Power of Attorney (reference is made to the signature page to the Registration Statement)](#i2daaa9faa0b24be68f6320125a1b1051_3401)</u> |
| 107.1 | <u>[Filing Fee Table](limefilingfee.htm)</u> |

---

_______________

\*To be filed by amendment.

#&nbsp;&nbsp;&nbsp;&nbsp; Indicates management contract or compensatory plan.

†Certain information in this exhibit (indicated by asterisks) has been redacted because it is both (i) not material and (ii) information that the registrant treats as private or confidential.

^&nbsp;&nbsp;&nbsp;&nbsp;Certain of the exhibits and schedules to this exhibit have been omitted in accordance with Regulation S-K Item 601(a)(5). The registrant agrees to furnish a copy of all omitted exhibits and schedules to the SEC upon its request.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of San Francisco, State of California, on the 7th day of May, 2026.

---

| | |
|:---|:---|
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By: | /s/ Wayne Ting |
| Name:<br>Title: | Wayne Ting<br>Chief Executive Officer |

---

**POWER OF ATTORNEY**

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Wayne Ting, Ann Gugino and Susie Giordano, and each of them, his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place, and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement and any and all additional registration statements pursuant to Rule 462(b) of the Securities Act of 1933, as amended, and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact and agents full power and authority to do and perform each and every act in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or either of them or their or his or her substitute or substitutes may lawfully do or cause to be done by virtue hereof.

------

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Wayne Ting | Chief Executive Officer and Director<br>(Principal Executive Officer) | May 7, 2026 |
| Wayne Ting | Chief Executive Officer and Director<br>(Principal Executive Officer) | May 7, 2026 |
| /s/ Ann Gugino | Chief Financial Officer<br>(Principal Financial Officer) | May 7, 2026 |
| Ann Gugino | Chief Financial Officer<br>(Principal Financial Officer) | May 7, 2026 |
| /s/ Michael Ryan | Chief Accounting Officer<br>(Principal Accounting Officer) | May 7, 2026 |
| Michael Ryan | Chief Accounting Officer<br>(Principal Accounting Officer) | May 7, 2026 |
| /s/ Zhoujia Bao | Director | May 7, 2026 |
| Zhoujia Bao | Director | May 7, 2026 |
| /s/ Elizabeth Hamren | Director | May 7, 2026 |
| Elizabeth Hamren | Director | May 7, 2026 |
| /s/ Andrew Macdonald | Director | May 7, 2026 |
| Andrew Macdonald | Director | May 7, 2026 |
| /s/ Brandon Pedersen | Director | May 7, 2026 |
| Brandon Pedersen | Director | May 7, 2026 |
| /s/ Jim Rowan | Director | May 7, 2026 |
| Jim Rowan | Director | May 7, 2026 |
| /s/ Sarah Smith | Director | May 7, 2026 |
| Sarah Smith | Director | May 7, 2026 |

---

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING 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;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Neutron Holdings, Inc.**  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation or Carry Forward Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering 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; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** |
| Fees to be Paid | 1 | Equity | Common Stock, par value $0.0001 per share | 457(o) | $100000000.00 | 0.0001381 | $13810.00 |
| Fees Previously Paid |  |  |  |  |  |  |  |
| **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** |
| Carry Forward Securities |  |  |  |  |  |  |  |
|  |  |  | Total Offering Amounts: | Total Offering Amounts: | $100000000.00  |  | $13810.00  |
|  |  |  | Total Fees Previously Paid:  | Total Fees Previously Paid:  |  |  | $0.00  |
|  |  |  | Total Fee Offsets:  | Total Fee Offsets:  |  |  | $0.00  |
|  |  |  | Net Fee Due:  | Net Fee Due:  |  |  | $13810.00  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> (a) Includes the aggregate offering price of additional shares that the underwriters have the option to purchase to cover over-allotments, if any. (b) Estimated solely for the purpose of computing the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended.

---

| |
|:---|
| |
| **Rules 457(b) and 0-11(a)(2)** |
| Fee Offset Claims |
| Fee Offset Sources |
| **Rule 457(p)** |
| Fee Offset Claims |
| Fee Offset Sources |

---

## Exhibit 3.1

**Exhibit 3.1**

NINTH AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

OF

NEUTRON HOLDINGS, INC.

(Pursuant to Sections 242 and 245 of the

General Corporation Law of the State of Delaware)

Neutron Holdings, 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:**

&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;**That the name of this corporation is Neutron Holdings, Inc., and that this corporation was originally incorporated pursuant to the General Corporation Law on January 3, 2017 under the name Neutron Holdings, Inc.

&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;**That the Board of Directors duly adopted resolutions proposing to amend and restate the 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 Certificate of Incorporation of this corporation be amended and restated in its entirety to read as follows:

**FIRST:** The name of this corporation is Neutron Holdings, Inc. (the "**Corporation**").

**SECOND:** The address of the registered office of the Corporation in the State of Delaware is 1209 Orange Street, in the City of Wilmington, County of New Castle, Zip Code 19801. The name of its registered agent at such address is National Registered Agents, Inc..

**THIRD:** 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.

**FOURTH:&nbsp;&nbsp;&nbsp;&nbsp;**The total number of shares of all classes of stock which the Corporation shall have authority to issue is (i) 23,883,000,000 shares of Common Stock, $0.0001 par value per share ("**Common Stock**") and (ii) 14,008,547,900 shares of Preferred Stock, $0.0001 par value per share ("**Preferred Stock**").

The following is a statement of the designations and the powers, privileges and rights, and the qualifications, limitations or restrictions thereof in respect of each class of capital stock of the Corporation.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;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;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>General</u>. The voting, dividend and liquidation rights of the holders of the Common Stock are subject to and qualified by the rights, powers and preferences of the holders of the Preferred Stock set forth 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;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Voting</u>. The holders of the Common Stock are entitled to one vote for each share of Common Stock held at all meetings of stockholders (and written actions in lieu of meetings); *provided*, *however*, *that*, except as otherwise required by law, holders of Common Stock, as such, shall not be entitled to vote on any amendment to this Amended and Restated Certificate of Incorporation that relates solely to the terms of one or more outstanding series of Preferred Stock if the holders of such affected series are entitled, either separately or together with the holders of one or more other such series, to vote thereon pursuant to this Amended and Restated Certificate of Incorporation or pursuant to the General Corporation Law. There shall be no cumulative voting. The number of authorized shares of Common Stock 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 Amended and Restated Certificate of Incorporation) 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, irrespective of the provisions of Section 242(b)(2) of the General Corporation Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;PREFERRED STOCK

4,000,000,000 shares of the authorized Preferred Stock of the Corporation are hereby designated "**Series 3 Preferred Stock**" or the "**Senior Preferred Stock**", 4,000,000,000 shares are designated "**Series 2 Preferred Stock**" and together with the Series 3 Preferred Stock are the "**Series Preferred Stock**", and 747,164,100 shares are designated "**Series 1-A Preferred Stock**", 172,932,100 shares are designated "**Series 1-Al Preferred Stock**", 1,317,300,632 shares are designated "**Series 1-B Preferred Stock**", 2,383,505,340 shares are designated "**Series 1-C Preferred Stock**", and 1,387,645,728 shares are designated "**Series 1-D Preferred Stock**", and collectively with the Series 1-A Preferred Stock, the Series 1-Al Preferred Stock, the Series 1-B Preferred Stock, and the Series 1-C Preferred Stock, the "**Series 1 Stock**", and together with the Series 2 Preferred Stock, the "**Junior Preferred Stock**", each with the following rights, preferences, powers, privileges and restrictions, qualifications and limitations. Unless otherwise indicated, references to "sections" or "subsections" in this Part B of this Article Fourth refer to sections and subsections of Part B of this Article Fourth.

&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;<u>Dividends</u>.

The Corporation shall not declare, 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) unless (in addition to the obtaining of any consents required elsewhere in this Amended and Restated Certificate of Incorporation) the holders of the Series Preferred Stock then outstanding shall first receive, or simultaneously receive, a dividend on each outstanding share of each series of Series Preferred Stock in an amount at least equal to

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(i) in the case of a dividend on Common Stock or any class or series that is convertible into Common Stock, that dividend per share of Series Preferred Stock as would equal the product of (A) the dividend payable on each share of such class or series determined, if applicable, as if all shares of such class or series had been converted into Common Stock and (B) the number of shares of Common Stock issuable upon conversion of a share of such series of Series Preferred Stock, in each case calculated on the record date for determination of holders entitled to receive such dividend or (ii) in the case of a dividend on any class or series that is not convertible into Common Stock, at a rate per share of such series of Series Preferred Stock determined by (A) dividing the amount of the dividend payable on each share of such class or series of capital stock by the applicable original issuance price of such class or series of capital stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to such class or series) and (B) multiplying such fraction by an amount equal to the applicable Original Issue Price (as defined below); *provided that*, if the Corporation declares, pays or sets aside, on the same date, a dividend on shares of more than one class or series of capital stock of the Corporation, the dividend payable to the holders of each series of Series Preferred Stock pursuant to this <u>Section 1</u> shall be calculated based upon the dividend on the class or series of capital stock that would result in the highest Series Preferred Stock dividend. The "**Original Issue Price**" shall mean $0.0057230 per share of Series 1-A Preferred Stock, $0.0010512 per share of Series 1-Al Preferred Stock, $0.0238460 per share of Series 1-B Preferred Stock, $0.0651526 per share of Series 1-C Preferred Stock, and $0.0864116 per share of Series 1-D Preferred Stock, and the Original Issue Price per share of Series 3 Preferred Stock and Series 2 Preferred Stock shall be the "Conversion Price" (as defined in that certain Note Purchase Agreement by and between the Corporation and the lenders named therein, dated as of the date of the filing of this Certificate), each subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the 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;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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Preferential Payments to Holders of Preferred 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;2.1.1&nbsp;&nbsp;&nbsp;&nbsp;In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of shares of Senior Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders, and in the event of a Deemed Liquidation Event (as defined below), the holders of shares of Senior Preferred Stock then outstanding shall be entitled to be paid out of the consideration payable to stockholders in such Deemed Liquidation Event or out of the Available Proceeds (as defined below), as applicable, before any payment shall be made to the holders of Junior Preferred Stock or Common Stock by reason of their ownership thereof, an amount per share equal to the greater of (i) the applicable Original Issue Price, plus any dividends declared but unpaid thereon, or (ii) such amount per share as would have been payable had all shares of Senior Preferred Stock been converted into Common Stock pursuant to <u>Section 4</u> immediately prior to such liquidation, dissolution, winding up or Deemed Liquidation Event (the amount payable pursuant to this sentence is hereinafter referred to as the "**Senior** 

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**Liquidation Amount**"). If upon any such liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of shares of Senior Preferred Stock the full amount to which they shall be entitled under this <u>Subsection 2.1.1</u>, the holders of shares of Senior Preferred Stock shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares 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;&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 event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of shares of Series 2 Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders, and in the event of a Deemed Liquidation Event (as defined below), the holders of shares of Series 2 Preferred Stock then outstanding shall be entitled to be paid out of the consideration payable to stockholders in such Deemed Liquidation Event or out of the Available Proceeds (as defined below), as applicable, after the payment set forth in Section 2.1.1 above, before any payment shall be made to the holders of Series 1 Stock or Common Stock by reason of their ownership thereof, an amount per share equal to the greater of (i) the applicable Original Issue Price, plus any dividends declared but unpaid thereon, or (ii) such amount per share as would have been payable had all shares of Series 2 Preferred Stock been converted into Common Stock pursuant to <u>Section 4</u> immediately prior to such liquidation, dissolution, winding up or Deemed Liquidation Event (the amount payable pursuant to this sentence is hereinafter referred to as the "**Series 2 Liquidation Amount**"). If upon any such liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of shares of Series 2 Preferred Stock the full amount to which they shall be entitled under this <u>Subsection 2.1.2</u>, the holders of shares of Senior Preferred Stock shall first receive payment under Section 2.1.1, then if any amount is left, the Series 2 Preferred Stock shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares 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;&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;In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of shares of each series of Series 1 Stock then outstanding shall be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders, and in the event of a Deemed Liquidation Event (as defined below), the holders of shares of each series of Series 1 Stock then outstanding shall be entitled to be paid out of the consideration payable to stockholders in such Deemed Liquidation Event or out of the Available Proceeds (as defined below), as applicable, after the payments set forth in Sections 2.1.1 and 2.1.2 above, before any payment shall be made to the holders of Common Stock by reason of their ownership thereof, an amount per share equal to the greater of (i) the applicable Original Issue Price, plus any dividends declared but unpaid thereon, or (ii) such amount per share as would have been payable had all shares of such series of Series 1 Stock been converted into Common Stock pursuant to <u>Section 4</u> immediately prior to such liquidation, dissolution, winding up or Deemed Liquidation Event (the amount payable pursuant to this

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sentence is hereinafter referred to as the "**Series 1 Liquidation Amount**" and together with the Senior Liquidation Amount and the Series 2 Liquidation Amount, the "**Liquidation Amount**"). If upon any such liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of shares of the series of Series 1 Stock the full amount to which they shall be entitled under this <u>Subsection 2.1.3</u>, the holders of shares of Series Preferred Stock shall first receive payment under Sections 2.1.1 and 2.1.2, then if any amount is left, the Series 1 Stock shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments to Holders of Common Stock</u>. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, after the payment in full of all Liquidation Amounts required to be paid to the holders of shares of Preferred Stock, the remaining assets of the Corporation available for distribution to its stockholders or, in the case of a Deemed Liquidation Event, the consideration not payable to the holders of shares of Preferred Stock pursuant to Section 2.1 or the remaining Available Proceeds, as the case may be, shall be distributed among the holders of shares of Common Stock, pro rata based on the number of shares held by each 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;2.3&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Definition</u>. Each of the following events shall be considered a "**Deemed Liquidation Event**" unless, at any time when at least 1,000,000 shares of Series 3 Preferred Stock are outstanding, the holders of at least a majority of the outstanding shares of Series Preferred Stock, including a majority of the then outstanding shares of Series 3 Preferred Stock, voting together as a single class and on an as-converted basis, 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;a merger or consolidation in which

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)the Corporation is a constituent party 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)a subsidiary of the Corporation is a constituent party and the Corporation issues shares of its capital stock pursuant to such merger or consolidation,

except any such merger or consolidation involving the Corporation or a subsidiary in which the shares of capital stock of the Corporation outstanding immediately prior to such merger or consolidation continue to represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such merger or consolidation, at least a majority, by voting power, of the capital stock of (1) the surviving or resulting corporation; or (2) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following

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such merger or consolidation, the parent corporation of such surviving or resulting corporation; 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;(1) the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related transactions, by the Corporation or any subsidiary of the Corporation of all or substantially all the assets of the Corporation and its subsidiaries taken as a whole, or (2) the sale or disposition (whether by merger, consolidation or otherwise, and whether in a single transaction or a series of related transactions) of one or more subsidiaries of the Corporation if substantially all of the assets of the Corporation and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.2&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;&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 <u>Subsection 2.3.1(a)(i)</u> 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 in such Deemed Liquidation Event shall be paid to the holders of capital stock of the Corporation in accordance with <u>Subsections</u> <u>2.1</u> and <u>2.2</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;&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 2.3.1(a)(ii)</u> or <u>2.3.1(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\*) 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 (iii) if the Series Preferred Stock, voting together as a single class and on an as-converted basis, and if no shares of Series Preferred Stock are outstanding, a majority of the outstanding shares of Preferred Stock, voting separately as a single series (the "**Requisite Holders**") 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 at a price per share equal to the applicable Liquidation Amount. 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 redeem the Preferred Stock in the order set forth in Section 2.1, based on the respective amounts which each series of Preferred Stock would otherwise be payable in respect of the shares to be redeemed if the

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Available Proceeds were sufficient to redeem all such shares, and shall redeem the remaining shares as soon as it may lawfully do so under Delaware law governing distributions to stockholders. Any stock will be redeemed in accordance with procedures agreed by the Corporation and the Requisite Holders. Prior to the distribution or redemption provided for in this <u>Subsection 2.3.2(b)</u>, 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Amount Deemed Paid or Distributed</u>. The amount deemed paid or distributed to the holders of capital stock of the Corporation upon any such merger, consolidation, sale, transfer, exclusive license, other disposition or redemption shall be the cash or the value of the property, rights or securities to be paid or distributed to such holders pursuant to such Deemed Liquidation Event. The value of such property, rights or securities shall be determined in good faith by 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Allocation of Escrow and Contingent Consideration</u>. In the event of a Deemed Liquidation Event pursuant to <u>Subsection 2.3.1(a)(i)</u>, if any portion of the consideration payable to the stockholders of the Corporation is payable only upon satisfaction of contingencies (the "**Additional Consideration**"), the Merger Agreement shall provide that (a) the portion of such consideration that is not Additional Consideration (such portion, the "**Initial Consideration**") shall be allocated among the holders of capital stock of the Corporation in accordance with <u>Subsections 2.1</u> and <u>2.2</u> as if the Initial Consideration were the only consideration payable in connection with such Deemed Liquidation Event; and (b) any Additional Consideration which becomes payable to the stockholders of the Corporation upon satisfaction of such contingencies shall be allocated among the holders of capital stock of the Corporation in accordance with <u>Subsections 2.1</u> and <u>2.2</u> after taking into account the previous payment of the Initial Consideration as part of the same transaction. For the purposes of this <u>Subsection 2.3.4</u>, consideration placed into escrow or retained as a holdback to be available for satisfaction of indemnification or similar obligations in connection with such Deemed Liquidation Event shall be deemed to be Additional 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;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;&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 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. Except as provided by law or by the other provisions of this Amended and Restated Certificate of Incorporation, holders of Preferred Stock shall vote together with the holders of Common Stock as a single class and on an as-converted to Common Stock basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>. The holders of record of the shares of Senior Preferred Stock, voting as a single class on an as-converted basis, shall be entitled to elect one (1) director of the Corporation (the "**Senior Preferred Director**"), the holders of record of the

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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&nbsp;&nbsp;&nbsp;&nbsp;<u>Preferred Stock Protective Provisions</u>. At any time when at least 520,000,000 shares of Series Preferred Stock, including at least 1,000,000 shares of Senior Preferred Stock (subject, in each case, to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series Preferred Stock or Senior Preferred Stock, as applicable) are outstanding, 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 Amended and Restated Certificate of Incorporation) the written consent or affirmative vote of 66% of the holders of outstanding shares of Series Preferred Stock, voting together as a single class and on an as- converted basis (the "**Series Protective Threshold**") given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;liquidate, dissolve or wind-up the business and affairs of the Corporation, effect any merger or consolidation or any other Deemed Liquidation Event, or consent to any of the foregoing;

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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;3.3.2&nbsp;&nbsp;&nbsp;&nbsp;amend, alter or repeal any provision of this Amended and Restated Certificate of Incorporation or Bylaws of the Corporation, *provided however*, *that* no consent is required to increase the authorized number of shares of Preferred Stock or make any other alterations or amendments to this Amended and Restated Certificate of Incorporation necessary in connection with the creation of a new series of preferred stock that has rights junior to or pari passu with the Senior Preferred Stock. For the avoidance of doubt, no alterations or amendments to the definitions of Senior Preferred Stock, Series Preferred Stock, this Section 3.3, and Section 3.4 shall be considered necessary in connection the creation of a new series of preferred stock that has rights junior or pari passu with the Senior Preferred Stock, and any such amendments or alternations shall require the consent of the Requisite Holders 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.3&nbsp;&nbsp;&nbsp;&nbsp;(i) create, or authorize the creation of, or issue or obligate itself to issue shares of, any additional class or series of capital stock unless the same ranks junior or pari passu to the Senior Preferred Stock with respect to the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends and rights of redemption, (ii) increase the authorized number of shares of any series of existing Preferred Stock outstanding or (iii) increase the authorized number of shares of any additional class or series of capital stock of the Corporation (*provided that* no consent is needed to increase the authorized number of shares of Common Stock to reserve shares of Common Stock for the conversion of any new series of preferred stock that is junior to or pari passu with the Senior 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;3.3.4&nbsp;&nbsp;&nbsp;&nbsp;(i) reclassify, alter or amend any existing security of the Corporation that is pari passu with the Senior Preferred Stock in respect of the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends or rights of redemption, if such reclassification, alteration or amendment would render such other security senior to the Senior Preferred Stock in respect of any such right, preference, or privilege or (ii) reclassify, alter or amend any existing security of the Corporation that is junior to the Senior Preferred Stock in respect of the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends or rights of redemption, if such reclassification, alteration or amendment would render such other security senior to the Senior Preferred Stock in respect of any such right, preference or privilege;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;cause or permit any of its subsidiaries to sell, issue, sponsor, create or distribute any digital tokens, cryptocurrency or other blockchain-based assets (collectively, "**Tokens**"), including through a pre-sale, initial coin offering, token distribution event or crowdfunding, or through the issuance of any instrument convertible or exchangeable for Tokens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;purchase or redeem (or permit any subsidiary to purchase or redeem) or pay or declare any dividend or make any distribution on, any shares of capital stock of the Corporation other than (i) redemptions of or dividends or distributions on the Preferred Stock as expressly authorized herein, (ii) dividends or other distributions payable on the Common Stock solely in the form of additional shares of Common Stock and (iii) repurchases of stock from former employees, officers, directors, consultants or other persons

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who performed services for the Corporation or any subsidiary in connection with the cessation of such employment or service at the lower of the original purchase price or the then-current fair market value thereof or (iv) as approved by the Board of Directors, including at least one of the Preferred 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.7&nbsp;&nbsp;&nbsp;&nbsp;create, or authorize the creation of, or issue, or authorize the issuance of any debt security or create any lien or security interest (except for purchase money liens or statutory liens of landlords, mechanics, materialmen, workmen, warehousemen and other similar persons arising or incurred in the ordinary course of business including, but not limited to, liens related to asset-backed lending related to the purchase of micromobility devices) or incur other indebtedness for borrowed money, including but not limited to obligations and contingent obligations under guarantees, or permit any subsidiary to take any such action with respect to any debt security lien, security interest or other indebtedness for borrowed money, if such additional indebtedness would exceed $15,000,000 (other than equipment leases, bank lines of credit or trade payables incurred in the ordinary course and other than up to $30,000,000 in indebtedness that replaces prior outstanding debt that was outstanding as of prior to the filing of this Certificate);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.8&nbsp;&nbsp;&nbsp;&nbsp;create, or hold capital stock in, any subsidiary that is not wholly owned (either directly or through one or more other subsidiaries) by the Corporation, or permit any subsidiary to create, or authorize the creation of, or issue or obligate itself to issue, any shares of any class or series of capital stock, or sell, transfer or otherwise dispose of any capital stock of any direct or indirect subsidiary of the Corporation, or permit any direct or indirect subsidiary to sell, lease, transfer, exclusively license or otherwise dispose (in a single transaction or series of related transactions) of all or substantially all of the assets of such subsidiary; 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;3.3.9&nbsp;&nbsp;&nbsp;&nbsp;increase or decrease the authorized number of directors constituting 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;3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Senior Preferred Stock Protective Provisions</u>. At any time when shares of Senior Preferred Stock are outstanding, 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 Amended and Restated Certificate of Incorporation) the written consent or affirmative vote of the holders of a majority of the Senior Preferred Stock (the "**Senior Preferred Threshold**") given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.1&nbsp;&nbsp;&nbsp;&nbsp;(i) create, or authorize the creation of, or issue or obligate itself to issue shares of, any additional class or series of capital stock unless the same ranks junior or pari passu to the Senior Preferred Stock with respect to the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends and rights of redemption, (ii) increase the authorized number of shares of any series of Preferred Stock outstanding (*provided that* no consent is needed for the creation or increase of any series of preferred stock that is junior or pari passu with the Senior Preferred Stock) or (iii) increase the authorized number of shares of any additional class or series of capital stock of the Corporation

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(*provided that* no consent is needed to increase the authorized number of shares of Common Stock to reserve shares of Common Stock for the conversion of any new series of preferred stock that is junior to or pari passu with the Senior 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;3.4.2&nbsp;&nbsp;&nbsp;&nbsp;(i) reclassify, alter or amend any existing security of the Corporation that is pari passu with the Senior Preferred Stock in respect of the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends or rights of redemption, if such reclassification, alteration or amendment would render such other security senior to the Senior Preferred Stock in respect of any such right, preference, or privilege or (ii) reclassify, alter or amend any existing security of the Corporation that is junior to the Senior Preferred Stock in respect of the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends or rights of redemption, if such reclassification, alteration or amendment would render such other security pari passu or senior to the Senior Preferred Stock in respect of any such right, preference or privilege.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.3&nbsp;&nbsp;&nbsp;&nbsp;amend, alter or repeal any provision of this Amended and Restated Certificate of Incorporation or Bylaws of the Corporation in a manner that disproportionately and adversely affects the powers, preferences or rights of the Senior 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;3.4.4&nbsp;&nbsp;&nbsp;&nbsp;amend, alter or repeal this Section 3.4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Series 1 Preferred Stock Protective Provisions</u>. At any time when at least 1,000,000,000 shares of Series 1 Preferred Stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series 1 Preferred Stock) are outstanding, 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 Amended and Restated Certificate of Incorporation) the written consent or affirmative vote of the Series 1 Majority (as defined in that certain Voting Agreement, entered into on or about May 6, 2020) (the "**Series 1 Majority**") given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5.1&nbsp;&nbsp;&nbsp;&nbsp;(i) reclassify, alter or amend any existing security of the Corporation that is pari passu with any series of the Series 1 Preferred Stock in respect of the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends or rights of redemption, if such reclassification, alteration or amendment would render such other security senior to such series of the Series 1 Preferred Stock in respect of any such right, preference, or privilege or (ii) reclassify, alter or amend any existing security of the Corporation that is junior to any series of the Series 1 Preferred Stock in respect of the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends or rights of redemption, if such reclassification, alteration or amendment would render such other security senior to the Series 1 Preferred Stock in respect of any such right, preference or privilege;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5.2&nbsp;&nbsp;&nbsp;&nbsp;waive, modify, or otherwise alter the Series 1 Liquidation Amount, or waive the treatment of an event as a Deemed Liquidation Event, 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;3.5.3&nbsp;&nbsp;&nbsp;&nbsp;amend, alter, repeal or waive any provision of the Amended and Restated Certificate of Incorporation or the Restated Bylaws of the Corporation in a manner that alters or changes the voting or other powers, preferences or other special rights, privileges or restrictions of the Series 1 Preferred Stock so as to affect the Series 1 Preferred stock adversely in a manner different than 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;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Optional Conversion</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;&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;&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 Preferred Stock shall be convertible, at the option of the holder thereof, at any time and from time to time, and without the payment of additional consideration by the holder thereof, into such number of fully paid and non-assessable shares of Common Stock as is determined by dividing the applicable Original Issue Price by the applicable Conversion Price (as defined below) in effect at the time of conversion. The "**Conversion Price**" shall initially be equal to the Original Issue Price in effect for each series of Preferred Stock. Such initial applicable Conversion Price, and the rate at which shares of each series of Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided 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;&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>Termination of Conversion Rights</u>. In the event of a liquidation, dissolution or winding up of the Corporation or a Deemed Liquidation Event, the Conversion Rights shall terminate at the close of business on the last full day preceding the date fixed for the payment of any such amounts distributable on such event to the holders 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;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Fractional Shares</u>. No fractional shares of 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 (rounded down to the nearest hundredth of a share) multiplied by the fair market value of a share of Common Stock as determined in good faith by the Board of Directors of the Corporation. 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 Common Stock and the aggregate number of shares of Common Stock issuable upon such 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;4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Mechanics of 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.1&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 Common Stock, such holder shall (a) provide written notice to the Corporation's transfer agent at the office of the transfer agent for the Preferred Stock (or at the principal office of the Corporation if the Corporation serves as its own transfer agent) that such holder elects to convert all or any number of such holder's shares of Preferred Stock and, if applicable, any event on which such conversion is

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contingent and (b), if such holder's shares are certificated, surrender the certificate or certificates for such shares of Preferred Stock (or, if such registered 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), at the office of the transfer agent for the Preferred Stock (or at the principal office of the Corporation if the Corporation serves as its own transfer agent). Such notice shall state such holder's name or the names of the nominees in which such holder wishes the shares of Common Stock to be issued. If required by the Corporation, any certificates surrendered for conversion shall be endorsed or accompanied by a written instrument or instruments of transfer, in form satisfactory to the Corporation, duly executed by the registered holder or his, her or its 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 notice and, if applicable, certificates (or lost certificate affidavit and agreement) shall be the time of conversion (the "**Conversion Time**"), and the shares of Common Stock issuable upon conversion of the specified shares shall be deemed to be outstanding of record as of such date. The Corporation shall, as soon as practicable after the Conversion Time (i) issue and deliver to such holder of Preferred Stock, or to his, her or its nominees, a certificate or certificates for the number of full shares of 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 Common Stock, (ii) pay in cash such amount as provided in <u>Subsection 4.2</u> in lieu of any fraction of a share of Common Stock otherwise issuable upon such conversion and (iii) 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Reservation of Shares</u>. The Corporation shall at all times when the 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 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 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 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 Amended and Restated Certificate of Incorporation. Before taking any action which would cause an adjustment reducing the applicable Conversion Price below the then par value of the shares of Common Stock issuable upon conversion of the 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 non-assessable shares of 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Conversion</u>. All shares of Preferred Stock which 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

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the Conversion Time, except only the right of the holders thereof to receive shares of Common Stock in exchange therefor, to receive payment in lieu of any fraction of a share otherwise issuable upon such conversion as provided in <u>Subsection 4.2</u> 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 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 accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>No Further Adjustment</u>. Upon any such conversion, no adjustment to the applicable Conversion Price shall be made for any declared but unpaid dividends on any series of Preferred Stock surrendered for conversion or on the Common Stock delivered upon 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>. The Corporation shall pay any and all issue and other similar taxes that may be payable in respect of any issuance or delivery of shares of Common Stock upon conversion of shares of Preferred Stock pursuant to this <u>Section 4</u>. The Corporation shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of shares of Common Stock in a name other than that in which the shares of Preferred Stock so converted were registered, and no such issuance or delivery shall be made unless and until the person or entity requesting such issuance has paid to the Corporation the amount of any such tax or has established, to the satisfaction of the Corporation, that such tax has been 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustments to Conversion Price for Diluting Issues</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;4.4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Special Definitions</u>. For purposes of this Article Fourth, 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;"**Option**" shall mean rights, options or warrants to subscribe for, purchase or otherwise acquire Common Stock or 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;&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**" shall mean the date on which the first share of any series of Series 1 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;&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 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;"**Additional Shares of Common Stock**" shall mean all shares of Common Stock issued (or, pursuant to <u>Subsection 4.4.3</u> below, deemed to be issued) by the Corporation after the Original Issue Date, other than (1) the following shares of

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Common Stock and (2) shares of Common Stock deemed issued pursuant to the following Options and Convertible Securities (clauses (1) and (2), collectively, "**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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)shares of Common Stock, Options or Convertible Securities issued as a dividend or distribution on 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)shares of Common Stock, Options or Convertible Securities issued by reason of a dividend, stock split, split-up or other distribution on shares of Common Stock that is covered by <u>Subsection 4.5</u>, <u>4.6</u>, <u>4.7</u> or <u>4.8</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;&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)shares of Common Stock or Options issued to employees or directors of, or consultants or advisors to, the Corporation or any of its subsidiaries pursuant to a plan, agreement or arrangement approved by the Board of Directors of the Corporation, including the approval of at least one of the Preferred 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)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 such issuance is pursuant to the terms of such Option or 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)shares of Common Stock, Options or Convertible Securities issued to banks, equipment lessors or other financial institutions, or to real property lessors, pursuant to a debt financing, equipment leasing or real property leasing transaction approved by the Board of Directors of the Corporation, including the approval of at least one of the Preferred 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)shares of Common Stock, Options or Convertible Securities issued to suppliers or third party service providers in connection with the provision of goods or services pursuant to transactions approved by the

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Board of Directors of the Corporation, including the approval of at least one of the Preferred 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)shares of Common Stock, Options or Convertible Securities issued as acquisition consideration pursuant to the acquisition of another corporation by the Corporation by merger, purchase of substantially all of the assets or other reorganization or to a joint venture agreement, *provided that* such issuances are approved by the Board of Directors of the Corporation, including the approval of at least one of the Preferred 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)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 of Directors of the Corporation, including the approval of all of the Preferred Directors; 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)shares of Common Stock or Convertible Securities issued upon conversion of the Convertible Promissory Notes issued pursuant to that certain Note Purchase Agreement dated on or about the date of the filing of this Certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;<u>No Adjustment of Conversion Price</u>. No adjustment in any Conversion Price shall be made as the result of the issuance or deemed issuance of Additional Shares of Common Stock if the Corporation receives written notice from the Requisite Holders agreeing that no such adjustment shall be made as the result of the issuance or deemed issuance of such Additional Shares of 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.3&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;&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 Original Issue Date 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

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the instrument relating thereto, assuming the satisfaction of any conditions to exercisability, convertibility or exchangeability but without regard to any provision contained therein for a subsequent adjustment of such number) 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;&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 pursuant to the terms of <u>Subsection 4.4.4</u>, 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 (1) any increase or decrease in the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of any such Option or Convertible Security or (2) 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 applicable Conversion Price 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 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 clause (b) shall have the effect of increasing any Conversion Price to an amount which exceeds the lower of (i) the applicable Conversion Price in effect immediately prior to the original adjustment made as a result of the issuance of such Option or Convertible Security, or (ii) the Conversion Price 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;&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 which are themselves Exempted Securities), the issuance of which did not result in an adjustment to the Conversion Price pursuant to the terms of <u>Subsection 4.4.4</u> (either because the consideration per share (determined pursuant to <u>Subsection</u> <u>4.4.5)</u> of the Additional Shares of Common Stock subject thereto was equal to or greater than the Conversion Price then in effect, or because such Option or Convertible Security was issued before the Original Issue Date), are revised after the Original Issue Date 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 antidilution or similar provisions of such Option or Convertible Security) to provide for either (1) 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 (2) 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

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Common Stock subject thereto (determined in the manner provided in <u>Subsection 4.4.3(a))</u> 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;&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) which resulted (either upon its original issuance or upon a revision of its terms) in an adjustment to the Conversion Price pursuant to the terms of <u>Subsection 4.4.4</u>, the Conversion Price shall be readjusted to such Conversion Price 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;&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 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 applicable Conversion Price provided for in this <u>Subsection 4.4.3</u> 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 clauses (b) and (c) of this <u>Subsection 4.4.3</u>). 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 the applicable Conversion Price that would result under the terms of this <u>Subsection 4.4.3</u> 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 the 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustment of Conversion Price Upon Issuance of</u> <u>Additional Shares of Common Stock</u>. In the event the Corporation shall at any time after the Original Issue Date issue Additional Shares of Common Stock (including Additional Shares of Common Stock deemed to be issued pursuant to <u>Subsection 4.4.3)</u>, without consideration or for a consideration per share less than the Conversion Price in effect immediately prior to such issuance or deemed issuance for any series of the Preferred Stock (excluding, for avoidance of doubt, the Series 1 Stock), then the Conversion Price applicable to the affected series of Preferred Stock shall be reduced, concurrently with such issue, to a price (calculated to the nearest one-hundredth of a cent, rounding down) determined in accordance with the following formula:

CP2 = CP1\* (A + B)-(A + C).

For purposes of the foregoing formula, 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;"CP2" shall mean the applicable Conversion Price in effect immediately after such issuance or deemed issuance of Additional Shares of 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;"CP1" shall mean the applicable Conversion Price in effect immediately prior to such issuance or deemed issuance of Additional Shares of 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;&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;"A" shall mean the number of shares of Common Stock outstanding immediately prior to such issuance or deemed issuance 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 issuance or deemed issuance 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);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;"B" shall mean the number of shares of Common Stock that would have been issued if such Additional Shares of Common Stock had been issued or deemed 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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;"C" shall mean the number of such Additional Shares of Common Stock 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Determination of Consideration</u>. For purposes of this <u>Subsection 4.4</u>, the consideration received by the Corporation for the issuance or deemed issuance 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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)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 of Directors of the Corporation; 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)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 of Directors of the Corporation.

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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;&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 <u>Subsection 4.4.3</u>, 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)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) 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.6&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 series of related transactions and that would result in an adjustment to any Conversion Price pursuant to the terms of <u>Subsection 4.4.4</u>, and such issuance dates occur within a period of no more than ninety (90) days from the first such issuance to the final such issuance, then, upon the final such issuance, the applicable Conversion Price 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).

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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;4.5&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 Original Issue Date effect a subdivision of the outstanding Common Stock, the applicable Conversion Price in effect immediately before that subdivision shall be proportionately decreased so that the number of shares of 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 Common Stock outstanding. If the Corporation shall at any time or from time to time after the Original Issue Date combine the outstanding shares of Common Stock, the applicable Conversion Price in effect immediately before the combination shall be proportionately increased so that the number of shares of 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 Common Stock outstanding. Any adjustment under this subsection 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6&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 Original Issue Date 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 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 the 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;(1)&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;(2)&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 (a) 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, the Conversion Price shall be recomputed accordingly as of the close of business on such record date and thereafter the applicable Conversion Price shall be adjusted pursuant to this subsection as of the time of actual payment of such dividends or distributions; and (b) that no such adjustment shall be made if the holders of Series Preferred Stock simultaneously receive a dividend or other distribution of shares of Common Stock in a number equal to the number of shares of Common Stock as they would have received if all outstanding shares of such series of Series Preferred Stock had been converted into 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7&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 Original Issue Date 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

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of shares of Common Stock in respect of outstanding shares of Common Stock) or in other property and the provisions of <u>Section 1</u> do not apply to such dividend or distribution, then and in each such event the holders of Preferred Stock shall receive, simultaneously with the distribution to the holders of Common Stock, a dividend or other distribution of such securities or other property in an amount equal to the amount of such securities or other property as they would have received if all outstanding shares of such series of Preferred Stock had been converted into 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustment for Merger or Reorganization, etc</u>. Subject to the provisions of <u>Subsection 2.3</u>, if there shall occur any reorganization, recapitalization, reclassification, consolidation or merger involving the Corporation in which the Common Stock (but not the Preferred Stock) is converted into or exchanged for securities, cash or other property (other than a transaction covered by <u>Subsections 4.4</u>, <u>4.6</u> or <u>4.7)</u>, then, following any such reorganization, recapitalization, reclassification, consolidation or merger, each share of Preferred Stock shall thereafter be convertible in lieu of the 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 Common Stock of the Corporation issuable upon conversion of one share of Preferred Stock immediately prior to such reorganization, recapitalization, reclassification, 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 of Directors of the Corporation) shall be made in the application of the provisions in this <u>Section</u> 4 with respect to the rights and interests thereafter of the holders of the Preferred Stock, to the end that the provisions set forth in this <u>Section 4</u> (including provisions with respect to changes in and other adjustments of the applicable Conversion Price) shall thereafter be 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Certificate as to Adjustments</u>. Upon the occurrence of each adjustment or readjustment of any Conversion Price pursuant to this <u>Section 4</u>, the Corporation at its expense shall, as promptly as reasonably practicable but in any event not later than ten (10) days thereafter, compute such adjustment or readjustment in accordance with the terms hereof and furnish to each holder of such affected 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 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 (i) the applicable Conversion Price then in effect, and (ii) the number of shares of Common Stock and the amount, if any, of other securities, cash or property which then would be received upon the conversion 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;4.10&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Corporation shall take a record of the holders of its Common Stock (or other capital stock or securities at the time issuable upon conversion of the

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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;&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;&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 right, and the amount and character of such dividend, distribution or 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 at least ten (10) days prior to the record date or effective date for the event specified in such 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;5.&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;5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Trigger Events</u>. Upon either (a) 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, resulting in at least $50,000,000 of gross proceeds to the Corporation and in connection with such offering the Common Stock is listed for trading on the Nasdaq Stock Market's National Market, the New York Stock Exchange or another exchange or marketplace approved the Board of Directors or (b) the date and time, or the occurrence of an event, specified by vote or written consent of both the Requisite Holders and the Series 1 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**"), then (i) all outstanding shares of Preferred Stock shall automatically be converted into shares of Common Stock, at the then effective conversion rate as calculated pursuant to <u>Subsection 4.1.1</u>, and (ii) 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;5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedural Requirements</u>. All holders of record of shares of Preferred Stock shall be sent written notice of the Mandatory Conversion Time and the place designated for mandatory conversion of all such shares of Preferred Stock pursuant to this <u>Section 5</u>. 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 in certificated form shall surrender his, her or its certificate or certificates for all such shares (or, if

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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. If so required by the Corporation, any certificates surrendered for conversion shall be endorsed or accompanied by written instrument or instruments of transfer, in form satisfactory to the Corporation, duly executed by the registered holder or by his, her or its attorney duly authorized in writing. All rights with respect to the Preferred Stock converted pursuant to <u>Subsection 5.1</u>, including the rights, if any, to receive notices and vote (other than as a holder of Common Stock), will terminate at the Mandatory Conversion Time (notwithstanding the failure of the holder or holders thereof to surrender any certificates at or prior to such time), except only the rights of the holders thereof, upon surrender of any certificate or certificates of such holders (or lost certificate affidavit and agreement) therefor, to receive the items provided for in the next sentence of this <u>Subsection 5.2</u>. As soon as practicable after the Mandatory Conversion Time and, if applicable, the surrender of any certificate or certificates (or lost certificate affidavit and agreement) for Preferred Stock, the Corporation shall (a) issue and deliver to such holder, or to his, her or its nominees, a certificate or certificates for the number of full shares of Common Stock issuable on such conversion in accordance with the provisions hereof and (b) pay cash as provided in <u>Subsection 4.2</u> in lieu of any fraction of a share of 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 accordingly.

&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.&nbsp;&nbsp;&nbsp;&nbsp;<u>Redeemed or Otherwise Acquired Shares</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 cancelled and retired and shall not be reissued, sold or transferred. Neither the Corporation nor any of its subsidiaries may exercise any voting or other rights granted to the holders of Preferred Stock following redemption.

&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.&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver</u>. Subject to the protective rights of the Series 1 Majority set forth in Subsection 3.5 and 5.1, the protective rights subject to the Senior Preferred Threshold set forth in Subsection 3.4, the protective rights subject to the Series Protective Threshold set forth in Subsection 3.3, any of the rights, powers, preferences and other terms of the Preferred Stock set forth herein may be waived on behalf of all holders of Preferred Stock by the affirmative written consent or vote of the Requisite 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;8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Any notice required or permitted by the provisions of this Article Fourth 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, 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.

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**FIFTH:** Subject to any additional vote required by this Amended and Restated Certificate of Incorporation or Bylaws, in furtherance and not in limitation of the powers conferred by statute, the Board of Directors is expressly authorized to make, repeal, alter, amend and rescind any or all of the Bylaws of the Corporation.

**SIXTH:** Subject to any additional vote required by this Amended and Restated Certificate of Incorporation, the number of directors of the Corporation shall be determined in the manner set forth in the Bylaws of the Corporation. Each director shall be entitled to one vote on each matter presented to the Board of Directors.

**SEVENTH:** Elections of directors need not be by written ballot unless the Bylaws of the Corporation shall so provide.

**EIGHTH:** 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 of Directors or in the Bylaws of the Corporation.

**NINTH:** 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 Ninth 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 Ninth 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.

**TENTH:** 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 <u>Section 145</u> of the General Corporation Law.

Any amendment, repeal or modification of the foregoing provisions of this Article Tenth shall not (a) 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 or (b)

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increase the liability of any director of the Corporation with respect to any acts or omissions of such director, officer or agent occurring prior to, such amendment, repeal or modification.

**ELEVENTH:** 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, affiliate or agent of any such holder, other than someone who is an employee of the Corporation or any of its subsidiaries (collectively, the persons referred to in clauses (i) and (ii) are "**Covered Persons**"), unless such matter, transaction or interest is presented to, or acquired, created or developed by, or otherwise comes into the possession of, a Covered Person expressly and solely in such Covered Person's capacity as a director of the Corporation while such Covered Person is performing services in such capacity. Any repeal or modification of this Article Eleventh will only be prospective and will not affect the rights under this Article Eleventh in effect at the time of the occurrence of any actions or omissions to act giving rise to liability. Notwithstanding anything to the contrary contained elsewhere in this Amended and Restated Certificate of Incorporation, the affirmative vote of the holders of the Requisite Holders, will be required to amend or repeal, or to adopt any provisions inconsistent with this Article Eleventh.

**TWELFTH:** Unless the Corporation consents in writing to the selection of an alternative forum, the Court of Chancery in the State of Delaware shall be the sole and exclusive forum for any stockholder (including a beneficial owner) to bring (i) any derivative action or proceeding brought on behalf of the Corporation, (ii) any action asserting a claim of breach of fiduciary duty owed by any director, officer or other employee of the Corporation to the Corporation or the Corporation's stockholders, (iii) any action asserting a claim against the Corporation, its directors, officers or employees arising pursuant to any provision of the Delaware General Corporation Law or the Corporation's certificate of incorporation or bylaws or (iv) any action asserting a claim against the Corporation, its directors, officers or employees governed by the internal affairs doctrine, except for, as to each of (i) through (iv) above, any claim as to which the Court of Chancery determines that there is an indispensable party not subject to the jurisdiction of the Court of Chancery (and the indispensable party does not consent to the personal jurisdiction of the Court of Chancery within ten days following such determination), which is vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery, or for which the Court of Chancery does not have subject matter jurisdiction. If any provision or provisions of this Article Twelfth shall be held to be invalid, illegal or unenforceable as applied to any person or entity or circumstance for any reason whatsoever, then, to the fullest extent permitted by law, the validity, legality and enforceability of such provisions in any other circumstance and of the remaining provisions of this Article Twelfth (including, without limitation, each portion of any sentence of this Article Twelfth containing any such provision held to be invalid, illegal

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or unenforceable that is not itself held to be invalid, illegal or unenforceable) and the application of such provision to other persons or entities and circumstances shall not in any way be affected or impaired thereby.

**THIRTEENTH:** For purposes of Section 500 of the California Corporations Code (to the extent applicable), in connection with any repurchase of shares of Common Stock permitted under this Amended and Restated Certificate of Incorporation from employees, officers, directors or consultants of the Corporation in connection with a termination of employment or services pursuant to agreements or arrangements approved by the Board of Directors (in addition to any other consent required under this Amended and Restated Certificate of Incorporation), such repurchase may be made without regard to any "preferential dividends arrears amount" or "preferential rights amount" (as those terms are defined in Section 500 of the California Corporations Code). Accordingly, for purposes of making any calculation under California Corporations Code Section 500 in connection with such repurchase, the amount of any "preferential dividends arrears amount" or "preferential rights amount" (as those terms are defined therein) shall be deemed to be zero (0).

\* \* \*

&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;**That the foregoing amendment and restatement 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;**That this Certificate of Incorporation, which restates and integrates and further amends the provisions of this Corporation's Certificate of Incorporation, has been duly adopted in accordance with Sections 242 and 245 of the General Corporation Law.

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**IN WITNESS WHEREOF**, this Ninth Amended and Restated Certificate of Incorporation has been executed by a duly authorized officer of this corporation on this 6th day of May, 2020.

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| | |
|:---|:---|
| By: | /s/ Wayne Ting |
|  | Chief Executive Officer |

---

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**CERTIFICATE OF AMENDMENT OF THE**

**NINTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF NEUTRON HOLDINGS, INC.**

The undersigned, for purposes of amending the Ninth Amended and Restated Certificate of Incorporation (the "**Certificate**") of Neutron Holdings, Inc. (the "**Corporation**"), a corporation organized and existing under, and by virtue of, the Delaware General Corporation Law, certifies that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;The name of the Corporation is Neutron Holdings, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;The original Certificate of Incorporation of the Corporation was filed with the Secretary of State of the State of Delaware on January 3, 2017, under the name Neutron Holdings, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;The first sentence of Article Fourth of the Certificate is amended and restated, in its entirety, as follows:

"**FOURTH**: The total number of shares of all classes of stock which the Corporation shall have authority to issue is (i) 25,800,000,000 shares of Common Stock, $0.0001 par value per share ("**Common Stock**") and (ii) 14,008,547,900 shares of Preferred Stock, $0.0001 par value per share ("**Preferred Stock**")."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;This Certificate of Amendment of the Ninth Amended and Restated Certificate of Incorporation has been duly adopted by the Corporation's Board of Directors and stockholders in accordance with the applicable provisions of Sections 141, 228 and 242 of the Delaware General Corporation Law.

[Signature Page Follows]

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IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment of the Ninth Amended and Restated Certificate of Incorporation to be executed by its duly authorized officer on this 24th day of April, 2024.

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| |
|:---|
| /s/ Wayne Ting |
| Wayne Ting |
| Chief Executive Officer |

---

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**CERTIFICATE OF AMENDMENT OF THE**

**NINTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF NEUTRON HOLDINGS, INC.**

The undersigned, for purposes of amending the Ninth Amended and Restated Certificate of Incorporation (the "**Certificate**") of Neutron Holdings, Inc. (the "**Corporation**"), a corporation organized and existing under, and by virtue of, the Delaware General Corporation Law, certifies that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;The name of the Corporation is Neutron Holdings, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;The original Certificate of Incorporation of the Corporation was filed with the Secretary of State of the State of Delaware on January 3, 2017, under the name Neutron Holdings, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;The first sentence of Article Fourth of the Certificate is amended and restated, in its entirety, as follows:

"**FOURTH**: The total number of shares of all classes of stock which the Corporation shall have authority to issue is (i) 27,000,000,000 shares of Common Stock, $0.0001 par value per share ("**Common Stock**") and (ii) 14,008,547,900 shares of Preferred Stock, $0.0001 par value per share ("**Preferred Stock**")."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;This Certificate of Amendment of the Ninth Amended and Restated Certificate of Incorporation has been duly adopted by the Corporation's Board of Directors and stockholders in accordance with the applicable provisions of Sections 141, 228 and 242 of the Delaware General Corporation Law.

[Signature Page Follows]

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IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment of the Ninth Amended and Restated Certificate of Incorporation to be executed by its duly authorized officer on this 20 day of May, 2025.

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| |
|:---|
| /s/ Wayne Ting |
| Wayne Ting |
| Chief Executive Officer |

---

## Exhibit 3.3

**Exhibit 3.3**

**FOURTH AMENDED AND RESTATED BYLAWS OF**

**NEUTRON HOLDINGS, INC.**

Adopted on December 18, 2025

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**BYLAWS**

**ARTICLE I — MEETINGS OF STOCKHOLDERS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1&nbsp;&nbsp;&nbsp;&nbsp;*Place of Meetings***. Meetings of stockholders of Neutron Holdings, Inc. (the ***Company***") shall be held at any place, within or outside the State of Delaware, determined by the Company's board of directors (the "***Board***"). The Board may, in its sole discretion, determine that a meeting of stockholders shall not be held at any place, but may instead be held solely by means of remote communication as authorized by Section 211(a)(2) of the Delaware General Corporation Law (the "***DGCL***"). In the absence of any such designation or determination, stockholders' meetings shall be held at the Company's principal executive office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2&nbsp;&nbsp;&nbsp;&nbsp;*Annual Meeting***. An annual meeting of stockholders shall be held for the election of directors at such date and time as may be designated by resolution of the Board from time to time. Any other proper business may be transacted at the annual meeting. The Company shall not be required to hold an annual meeting of stockholders, *provided* that (i) the stockholders are permitted to act by written consent under the Company's certificate of incorporation and these bylaws, (ii) the stockholders take action by written consent to elect directors and (iii) the stockholders unanimously consent to such action or, if such consent is less than unanimous, all of the directorships to which directors could be elected at an annual meeting held at the effective time of such action are vacant and are filled by such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3&nbsp;&nbsp;&nbsp;&nbsp;*Special Meeting***. A special meeting of the stockholders may be called at any time by the Board, Chairperson of the Board, Chief Executive Officer or President (in the absence of a Chief Executive Officer) or by one or more stockholders holding shares in the aggregate entitled to cast not less than 10% of the votes at that meeting.

If any person(s) other than the Board calls a special meeting, the request 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;be in writing;

&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;specify the time of such meeting and the general nature of the business proposed to be transacted; 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;be delivered personally or sent by registered mail or by facsimile transmission to the Chairperson of the Board, the Chief Executive Officer, the President (in the absence of a Chief Executive Officer) or the Secretary of the Company.

The officer(s) receiving the request shall cause notice to be promptly given to the stockholders entitled to vote at such meeting, in accordance with these bylaws, that a meeting will be held at the time requested by the person or persons calling the meeting. No business may be transacted at such special meeting other than the business specified in such notice to stockholders. Nothing contained in this paragraph of this **Section 1.3** shall be construed as limiting, fixing, or affecting the time when a meeting of stockholders called by action of the Board may be held.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.4&nbsp;&nbsp;&nbsp;&nbsp;*Notice of Stockholders' Meetings***. Whenever stockholders are required or permitted to take any action at a meeting, a written notice of the meeting shall be given which shall state the place, if any, date and hour of the meeting, 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 meeting, the record date for determining the stockholders entitled to vote at the meeting, if such date is different from the record date

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for determining stockholders entitled to notice of the meeting, and, in the case of a special meeting, the purpose or purposes for which the meeting is called. Except as otherwise provided in the DGCL, the certificate of incorporation or these bylaws, the written notice of any meeting of stockholders shall be given not less than 10 nor more than 60 days before the date of the meeting to each stockholder entitled to vote at such meeting as of the record date for determining the stockholders entitled to notice of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.5&nbsp;&nbsp;&nbsp;&nbsp;*Quorum***. Except as otherwise provided by law, the certificate of incorporation or these bylaws, at each meeting of stockholders the presence in person or by proxy of the holders of shares of stock having a majority of the votes which could be cast by the holders of all outstanding shares of stock entitled to vote at the meeting shall be necessary and sufficient to constitute a quorum. Where a separate vote by a class or series or classes or series is required, a majority of the votes which could be cast by the holders of all outstanding shares of stock entitled to vote at the meeting of such class or series or classes or series, present in person or represented by proxy, shall constitute a quorum entitled to take action with respect to that vote on that matter, except as otherwise provided by law, the certificate of incorporation or these bylaws.

If, however, such quorum is not present or represented at any meeting of the stockholders, then either (i) the chairperson of the meeting, or (ii) the stockholders entitled to vote at the meeting, present in person or represented by proxy, shall have the power to adjourn the meeting from time to time, in the manner provided in **Section 1.6**, until a quorum is present or represented.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.6&nbsp;&nbsp;&nbsp;&nbsp;*Adjourned Meeting; Notice***. Any meeting of stockholders, annual or special, may adjourn from time to time to reconvene at the same or some other place, and notice need not be given of the adjourned meeting if the time, 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. At the adjourned meeting, the Company may transact any business which might have been transacted at the original meeting. If the adjournment is for more than 30 days, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote at the meeting. If after the adjournment a new record date for stockholders entitled to vote is fixed for the adjourned meeting, the Board shall fix a new record date for notice of such adjourned meeting in accordance with Section 213(a) of the DGCL and **Section 1.10** of these bylaws, and shall give notice of the adjourned meeting to each stockholder of record entitled to vote at such adjourned meeting as of the record date fixed for notice of such adjourned meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.7&nbsp;&nbsp;&nbsp;&nbsp;*Conduct of Business***. Meetings of stockholders shall be presided over by the Chairperson of the Board, if any, or in his or her absence by the Vice Chairperson of the Board, if any, or in the absence of the foregoing persons by the Chief Executive Officer, or in the absence of the foregoing persons by the President, or in the absence of the foregoing persons by a Vice President, or in the absence of the foregoing persons by a chairperson designated by the Board, or in the absence of such designation by a chairperson chosen at the meeting. The Secretary shall act as secretary of the meeting, but in his or her absence the chairperson of the meeting may appoint any person to act as secretary of the meeting. The chairperson of any meeting of stockholders shall determine the order of business and the procedure at the meeting, including such regulation of the manner of voting and the conduct of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.8&nbsp;&nbsp;&nbsp;&nbsp;*Voting***. The stockholders entitled to vote at any meeting of stockholders shall be determined in accordance with the provisions of **Section 1.10** of these bylaws, subject to Section 217 (relating to voting rights of fiduciaries, pledgors and joint owners of stock) and Section 218 (relating to voting trusts and other voting agreements) of the DGCL.

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Except as may be otherwise provided in the certificate of incorporation, each stockholder entitled to vote at any meeting of stockholders shall be entitled to have that number of votes for every share of stock entitled to vote which is registered in his name on the record date for the meeting as is provided in the Certificate of Incorporation, as the same may be amended or restated from time to time, or as otherwise required by law. Voting at meetings of stockholders need not be by written ballot and, unless otherwise required by law, need not be conducted by inspectors of election unless so determined by the holders of shares of stock having a majority of the votes which could be cast by the holders of all outstanding shares of stock entitled to vote thereon which are present in person or by proxy at such meeting. If authorized by the Board, such requirement of a written ballot shall be satisfied by a ballot submitted by electronic transmission (as defined in **Section 7.2** of these bylaws), *provided* that any such electronic transmission must either set forth or be submitted with information from which it can be determined that the electronic transmission was authorized by the stockholder or proxy holder.

Except as otherwise required by law, the certificate of incorporation or these bylaws, in all matters other than the election of directors, the affirmative vote of a majority of the voting power of the shares present in person or represented by proxy at the meeting and entitled to vote on the subject matter shall be the act of the stockholders. Except as otherwise required by law, the certificate of incorporation or these bylaws, directors shall be elected by a plurality of the voting power of the shares present in person or represented by proxy at the meeting and entitled to vote on the election of directors. Where a separate vote by a class or series or classes or series is required, in all matters other than the election of directors, the affirmative vote of a majority of the voting power of the shares present in person or represented by proxy in such class or series or classes or series present in person or represented by proxy at the meeting shall be the act of such class or series or classes or series, except as otherwise provided by law, the certificate of incorporation or these bylaws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.9&nbsp;&nbsp;&nbsp;&nbsp;*Stockholder Action by Written Consent without a Meeting***. Unless otherwise provided in the certificate of incorporation, any action required by the DGCL to be taken at any annual or special meeting of stockholders of a corporation, or any action which may be taken at any annual or special meeting of such 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 by the holders of outstanding stock having not less than the minimum 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.

An electronic transmission (as defined in **Section 7.2**) consenting to an action to be taken and transmitted by a stockholder or proxy holder, or by a person or persons authorized to act for a stockholder or proxy holder, shall be deemed to be written, signed and dated for purposes of this section, *provided* that any such electronic transmission sets forth or is delivered with information from which the Company can determine (i) that the 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 (ii) the date on which such stockholder or proxy holder or authorized person or persons transmitted such electronic transmission.

In the event that the Board shall have instructed the officers of the Company to solicit the vote or written consent of the stockholders of the Company, an electronic transmission of a stockholder written consent given pursuant to such solicitation may be delivered to the Secretary or the President of the Company or to a person designated by the Secretary or the President. The Secretary or the President of the Company or a designee of the Secretary or the President shall cause any such written consent by electronic transmission to be reproduced in paper form and inserted into the corporate records.

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Prompt notice of the taking of the corporate action without a meeting by less than unanimous written consent shall be given to those stockholders who have not consented 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 notice of such meeting had been the date that written consents signed by a sufficient number of holders to take the action were delivered to the Company as provided in Section 228 of the DGCL. In the event that the action which is consented to is such as would have required the filing of a certificate under any provision of the DGCL, if such action had been voted on by stockholders at a meeting thereof, the certificate filed under such provision shall state, in lieu of any statement required by such provision concerning any vote of stockholders, that written consent has been given in accordance with Section 228 of the DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.10&nbsp;&nbsp;&nbsp;&nbsp;*Record Dates***. In order that the Company may determine the stockholders entitled to notice of any meeting of stockholders or any adjournment thereof, the Board may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board and which record date shall not be more than 60 nor less than 10 days before the date of such meeting. If the Board so fixes a date, such date shall also be the record date for determining the stockholders entitled to vote at such meeting unless the Board determines, at the time it fixes such record date, that a later date on or before the date of the meeting shall be the date for making such determination.

If no record date is fixed by the Board, the record date for determining stockholders entitled to notice of and to vote at a meeting of stockholders shall be at the close of business on the day next preceding the day on which notice is given, or, if notice is waived, at the close of business on the day next preceding the day on which the meeting is held.

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; *provided*, *however*, that the Board may fix a new record date for determination of stockholders entitled to vote at the adjourned meeting, and in such case shall also fix as the record date for stockholders entitled to notice of such adjourned meeting the same or an earlier date as that fixed for determination of stockholders entitled to vote in accordance with the provisions of Section 213 of the DGCL and this Section 1.10 at the adjourned meeting.

In order that the Company may determine the stockholders entitled to consent to corporate action in writing without a meeting, the Board may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board, and which date shall not be more than 10 days after 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, 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 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 Company in accordance with applicable law. If no record date has been fixed by the Board and prior action by the Board is required by law, 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 day on which the Board adopts the resolution taking such prior action.

In order that the Company may determine the stockholders entitled to receive payment of any dividend or other distribution or allotment of any rights or the stockholders 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 a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted, and which record date shall be not more than 60 days prior to such

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action. If no record date is fixed, the record date for determining stockholders for any such purpose shall be at the close of business on the day on which the Board adopts the resolution relating thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.11&nbsp;&nbsp;&nbsp;&nbsp;*Proxies***. Each stockholder entitled to vote at a meeting of stockholders or to express consent or dissent to corporate action in writing without a meeting may authorize another person or persons to act for such stockholder by proxy authorized by an instrument in writing or by a transmission permitted by law filed in accordance with the procedure established for the meeting, but no such proxy shall be voted or acted upon after three years from its date, unless the proxy provides for a longer period. The revocability of a proxy that states on its face that it is irrevocable shall be governed by the provisions of Section 212 of the DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.12&nbsp;&nbsp;&nbsp;&nbsp;*List of Stockholders Entitled to Vote***. The officer who has charge of the stock ledger of the Company shall prepare and make, at least ten days before every meeting of stockholders, a complete list of the stockholders entitled to vote at the meeting; *provided, however,* if the record date for determining the stockholders entitled to vote is less than 10 days before the meeting date, the list shall reflect the stockholders entitled to vote as of the tenth day before the meeting date, arranged in alphabetical order, and showing the address of each stockholder and the number of shares registered in the name of each stockholder. The Company shall not be required to include electronic mail addresses or other electronic contact information on such list. Such list shall be open to the examination of any stockholder for any purpose germane to the meeting for a period of at least ten days prior to the meeting: (i) on a reasonably accessible electronic network, *provided* that the information required to gain access to such list is provided with the notice of the meeting, or (ii) during ordinary business hours, at the Company's principal place of business. In the event that the Company determines to make the list available on an electronic network, the Company may take reasonable steps to ensure that such information is available only to stockholders of the Company. If the meeting is to be held at a place, then the list shall be produced and kept at the time and place of the meeting during the whole time thereof, and may be examined by any stockholder who is present. If the meeting is to be held solely by means of remote communication, then the list shall also 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 such list shall be provided with the notice of the meeting.

**ARTICLE II — DIRECTORS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1&nbsp;&nbsp;&nbsp;&nbsp;*Powers***. The business and affairs of the Company shall be managed by or under the direction of the Board, except as may be otherwise provided in the DGCL or the certificate of incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2&nbsp;&nbsp;&nbsp;&nbsp;*Number of Directors***. The Board shall consist of one or more members, each of whom shall be a natural person. Unless the certificate of incorporation fixes the number of directors, the number of directors shall be determined from time to time by resolution of the Board. No reduction of the authorized number of directors shall have the effect of removing any director before that director's term of office expires.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3&nbsp;&nbsp;&nbsp;&nbsp;*Election, Qualification and Term of Office of Directors***. Except as provided in **Section 2.4** of these bylaws, and subject to **Sections 1.2** and **1.9** of these bylaws, directors shall be elected at each annual meeting of stockholders. Directors need not be stockholders unless so required by the certificate of incorporation or these bylaws. The certificate of incorporation or these bylaws may prescribe other qualifications for directors. Each director shall hold office until such director's successor is elected and qualified or until such director's earlier death, resignation or removal.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4&nbsp;&nbsp;&nbsp;&nbsp;*Resignation and Vacancies***. Any director may resign at any time upon notice given in writing or by electronic transmission to the Company. A resignation is effective when the resignation is delivered unless the resignation specifies a later effective date or an effective date determined upon the happening of an event or events. A resignation which is conditioned upon the director failing to receive a specified vote for reelection as a director may provide that it is irrevocable. Unless otherwise provided in the certificate of incorporation or these bylaws, when one or more directors resign from the Board, effective at a future date, a majority of the directors then in office, including those who have so resigned, shall have power to fill such vacancy or vacancies, the vote thereon to take effect when such resignation or resignations shall become effective.

Unless otherwise provided in the certificate of incorporation or these 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;Vacancies and newly created directorships resulting from any increase in the authorized number of directors elected by all of the stockholders having the right to vote as a single class may be filled by a majority of the directors then in office, although less than a quorum, or by a sole remaining 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Whenever the holders of any class or classes of stock or series thereof are entitled to elect one or more directors by the provisions of the certificate of incorporation, vacancies and newly created directorships of such class or classes or series may be filled by a majority of the directors elected by such class or classes or series thereof then in office, or by a sole remaining director so elected.

If at any time, by reason of death or resignation or other cause, the Company should have no directors in office, then any officer or any stockholder or an executor, administrator, trustee or guardian of a stockholder, or other fiduciary entrusted with like responsibility for the person or estate of a stockholder, may call a special meeting of stockholders in accordance with the provisions of the certificate of incorporation or these bylaws, or may apply to the Court of Chancery for a decree summarily ordering an election as provided in Section 211 of the DGCL.

If, at the time of filling any vacancy or any newly created directorship, the directors then in office constitute less than a majority of the whole Board (as constituted immediately prior to any such increase), the Court of Chancery may, upon application of any stockholder or stockholders holding at least 10% of the votes which could be cast by the holders of all outstanding shares of stock having the right to vote for such directors, summarily order an election to be held to fill any such vacancies or newly created directorships, or to replace the directors chosen by the directors then in office as aforesaid, which election shall be governed by the provisions of Section 211 of the DGCL as far as applicable.

A director elected to fill a vacancy shall be elected for the unexpired term of his or her predecessor in office and until such director's successor is elected and qualified, or until such director's earlier death, resignation or removal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5&nbsp;&nbsp;&nbsp;&nbsp;*Place of Meetings; Meetings by Telephone***. The Board may hold meetings, both regular and special, either within or outside the State of Delaware.

Unless otherwise restricted by the certificate of incorporation or these bylaws, members of the Board, or any committee designated by the Board, may participate in a meeting of the Board, or any 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 such participation in a meeting shall constitute presence in person at the meeting.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.6&nbsp;&nbsp;&nbsp;&nbsp;*Conduct of Business***. Meetings of the Board shall be presided over by the Chairperson of the Board, if any, or in his or her absence by the Vice Chairperson of the Board, if any, or in the absence of the foregoing persons by a chairperson designated by the Board, or in the absence of such designation by a chairperson chosen at the meeting. The Secretary shall act as secretary of the meeting, but in his or her absence the chairperson of the meeting may appoint any person to act as secretary of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.7&nbsp;&nbsp;&nbsp;&nbsp;*Regular Meetings***. Regular meetings of the Board may be held without notice at such time and at such place as shall from time to time be determined by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.8&nbsp;&nbsp;&nbsp;&nbsp;*Special Meetings; Notice***. Special meetings of the Board for any purpose or purposes may be called at any time by the Chairperson of the Board, the Chief Executive Officer, the President, the Secretary or any two directors.

Notice of the time and place of special meetings shall be:

&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;delivered personally by hand, by courier or by telephone;

&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;sent by United States first-class mail, postage prepaid;

&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;sent by facsimile; 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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;sent by electronic mail, directed to each director at that director's address, telephone number, facsimile number or electronic mail address, as the case may be, as shown on the Company's records.

If the notice is (i) delivered personally by hand, by courier or by telephone, (ii) sent by facsimile or (iii) sent by electronic mail, it shall be delivered or sent at least 24 hours before the time of the holding of the meeting. If the notice is sent by United States mail, it shall be deposited in the United States mail at least four days before the time of the holding of the meeting. Any oral notice may be communicated to the director. The notice need not specify the place of the meeting (if the meeting is to be held at the Company's principal executive office) nor the purpose of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.9&nbsp;&nbsp;&nbsp;&nbsp;*Quorum; Voting***. At all meetings of the Board, the greater of (a) a majority of the directors then in office at the time quorum is to be determined and (b) one-third of the total number of directors authorized pursuant to these Bylaws, shall constitute a quorum for the transaction of business. If a quorum is not present at any meeting of the Board, then the directors present thereat may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum is present. A meeting at which a quorum is initially present may continue to transact business notwithstanding the withdrawal of directors, if any action taken is approved by at least a majority of the required quorum for that meeting.

The vote of a majority of the directors present at any meeting at which a quorum is present shall be the act of the Board, except as may be otherwise specifically provided by statute, the certificate of incorporation or these bylaws.

If the certificate of incorporation provides that one or more directors shall have more or less than one vote per director on any matter, every reference in these bylaws to a majority or other proportion of the directors shall refer to a majority or other proportion of the votes of the directors.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.10&nbsp;&nbsp;&nbsp;&nbsp;*Board Action by Written Consent without a Meeting***. Unless otherwise restricted by the certificate of incorporation or these bylaws, 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 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. 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.11&nbsp;&nbsp;&nbsp;&nbsp;*Fees and Compensation of Directors***. Unless otherwise restricted by the certificate of incorporation or these bylaws, the Board shall have the authority to fix the compensation of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.12&nbsp;&nbsp;&nbsp;&nbsp;*Removal of Directors***. Unless otherwise restricted by statute, the certificate of incorporation or these bylaws, 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.

No reduction of the authorized number of directors shall have the effect of removing any director prior to the expiration of such director's term of office.

**ARTICLE III — COMMITTEES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1&nbsp;&nbsp;&nbsp;&nbsp;*Committees of Directors***. The Board may designate one or more committees, each committee to consist of one or more of the directors of the Company. 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 a committee, the member or members thereof present at any meeting and 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 the place of any such absent or disqualified member. Any such committee, to the extent provided in the resolution of the Board or in these bylaws, shall have and may exercise all the powers and authority of the Board in the management of the business and affairs of the Company, and may authorize the seal of the Company to be affixed to all papers that may require it; but no such committee shall have the power or authority to (i) approve or adopt, or recommend to the stockholders, any action or matter (other than the election or removal of directors) expressly required by the DGCL to be submitted to stockholders for approval, or (ii) adopt, amend or repeal any bylaw of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2&nbsp;&nbsp;&nbsp;&nbsp;*Committee Minutes***. Each committee shall keep regular minutes of its meetings and report the same to the Board when required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3&nbsp;&nbsp;&nbsp;&nbsp;*Meetings and Actions of Committees***. Meetings and actions of committees shall be governed by, and held and taken in accordance with, the provisions of:

&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;**Section 2.5** (Place of Meetings; Meetings by Telephone);

&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;**Section 2.7** (Regular 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;**Section 2.8** (Special Meetings; 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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;**Section 2.9** (Quorum; Voting);

&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;**Section 2.10** (Board Action by Written Consent Without a Meeting); 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;(vi)&nbsp;&nbsp;&nbsp;&nbsp;**Section 7.5** (Waiver of Notice) with such changes in the context of those bylaws as are necessary to substitute the committee and its members for the Board and its members. *However:*

&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;the time of regular meetings of committees may be determined either by resolution of the Board or by resolution of 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;(viii)&nbsp;&nbsp;&nbsp;&nbsp;special meetings of committees may also be called by resolution of the Board; 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;(ix)&nbsp;&nbsp;&nbsp;&nbsp;notice of special meetings of committees shall also be given to all alternate members, who shall have the right to attend all meetings of the committee. The Board may adopt rules for the government of any committee not inconsistent with the provisions of these bylaws.

Any provision in the certificate of incorporation providing that one or more directors shall have more or less than one vote per director on any matter shall apply to voting in any committee or subcommittee, unless otherwise provided in the certificate of incorporation or these bylaws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4&nbsp;&nbsp;&nbsp;&nbsp;*Subcommittees***. Unless otherwise provided in the certificate of incorporation, these bylaws or the resolutions of the Board designating the committee, a committee may create one or more subcommittees, each subcommittee to consist of one or more members of the committee, and delegate to a subcommittee any or all of the powers and authority of the committee.

**ARTICLE IV — OFFICERS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1&nbsp;&nbsp;&nbsp;&nbsp;*Officers***. The officers of the Company shall be a President and a Secretary. The Company may also have, at the discretion of the Board, a Chairperson of the Board, a Vice Chairperson of the Board, a Chief Executive Officer, one or more Vice Presidents, a Chief Financial Officer, a Treasurer, one or more Assistant Treasurers, one or more Assistant Secretaries, and any such other officers as may be appointed in accordance with the provisions of these bylaws. Any number of offices may be held by the same person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2&nbsp;&nbsp;&nbsp;&nbsp;*Appointment of Officers***. The Board shall appoint the officers of the Company, except such officers as may be appointed in accordance with the provisions of **Section 4.3** of these bylaws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3&nbsp;&nbsp;&nbsp;&nbsp;*Subordinate Officers***. The Board may appoint, or empower the Chief Executive Officer or, in the absence of a Chief Executive Officer, the President, to appoint, such other officers and agents as the business of the Company may require. Each of such officers and agents shall hold office for such period, have such authority, and perform such duties as are provided in these bylaws or as the Board may from time to time determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4&nbsp;&nbsp;&nbsp;&nbsp;*Removal and Resignation of Officers***. Any officer may be removed, either with or without cause, by an affirmative vote of the majority of the Board at any regular or special meeting of the Board or, except in the case of an officer chosen by the Board, by any officer upon whom such power of removal may be conferred by the Board.

Any officer may resign at any time by giving written notice to the Company. Any resignation shall take effect at the date of the receipt of that notice or at any later time specified in that notice. Unless otherwise specified in the notice of resignation, the acceptance of the resignation shall not be necessary to make it effective. Any resignation is without prejudice to the rights, if any, of the Company under any contract to which the officer is a party.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5&nbsp;&nbsp;&nbsp;&nbsp;*Vacancies in Offices***. Any vacancy occurring in any office of the Company shall be filled by the Board or as provided in **Section 4.3**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.6&nbsp;&nbsp;&nbsp;&nbsp;*Representation of Shares of Other Corporations***. Unless otherwise directed by the Board, the President or any other person authorized by the Board or the President is authorized to vote, represent and exercise on behalf of the Company all rights incident to any and all shares of any other corporation or corporations standing in the name of the Company. The authority granted herein may be exercised either by such person directly or by any other person authorized to do so by proxy or power of attorney duly executed by such person having the authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.7&nbsp;&nbsp;&nbsp;&nbsp;*Authority and Duties of Officers***. Except as otherwise provided in these bylaws, the officers of the Company shall have such powers and duties in the management of the Company as may be designated from time to time by the Board and, to the extent not so provided, as generally pertain to their respective offices, subject to the control of the Board.

**ARTICLE V — INDEMNIFICATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1&nbsp;&nbsp;&nbsp;&nbsp;*Indemnification of Directors and Officers in Third Party Proceedings***. Subject to the other provisions of this **Article V**, the Company shall indemnify, to the fullest extent permitted by the DGCL, as now or hereinafter in effect, any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (a "***Proceeding***") (other than an action by or in the right of the Company) by reason of the fact that such person is or was a director or officer of the Company, or is or was a director or officer of the Company serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such Proceeding if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had no reasonable cause to believe such person's conduct was unlawful. The termination of any Proceeding by judgment, order, settlement, conviction, or upon a plea of *nolo contendere* or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which such person reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had reasonable cause to believe that such person's conduct was unlawful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2&nbsp;&nbsp;&nbsp;&nbsp;*Indemnification of Directors and Officers in Actions by or in the Right of the Company***. Subject to the other provisions of this **Article V**, the Company shall indemnify, to the fullest extent permitted by the DGCL, as now or hereinafter in effect, any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the Company to procure a judgment in its favor by reason of the fact that such person is or was a director or officer of the Company, or is or was a director or officer of the Company serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by such person in connection with the defense or settlement of such action or suit if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the Company; except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the Company unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such

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person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3&nbsp;&nbsp;&nbsp;&nbsp;*Successful Defense***. To the extent that a present or former director or officer of the Company has been successful on the merits or otherwise in defense of any action, suit or proceeding described in **Section 5.1** or **Section 5.2**, or in defense of any claim, issue or matter therein, such person shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by such person in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4&nbsp;&nbsp;&nbsp;&nbsp;*Indemnification of Others***. Subject to the other provisions of this **Article V**, the Company shall have power to indemnify its employees and agents to the extent not prohibited by the DGCL or other applicable law. The Board shall have the power to delegate to such person or persons the determination of whether employees or agents shall be indemnified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5&nbsp;&nbsp;&nbsp;&nbsp;*Advanced Payment of Expenses***. Expenses (including attorneys' fees) incurred by an officer or director of the Company in defending any Proceeding shall be paid by the Company in advance of the final disposition of such Proceeding upon receipt of a written request therefor (together with documentation reasonably evidencing such expenses) and an undertaking by or on behalf of the person to repay such amounts if it shall ultimately be determined that the person is not entitled to be indemnified under this **Article V** or the DGCL. Such expenses (including attorneys' fees) incurred by former directors and officers or other employees and agents of the Company or by persons serving at the request of the Company as directors, officers, employees or agents of another corporation, partnership, joint venture, trust or other enterprise may be so paid upon such terms and conditions, if any, as the Company deems appropriate. The right to advancement of expenses shall not apply to any Proceeding for which indemnity is excluded pursuant to these bylaws, but shall apply to any Proceeding referenced in **Section 5.6(ii)** or **5.6(iii)** prior to a determination that the person is not entitled to be indemnified by the Company.

Notwithstanding the foregoing, unless otherwise determined pursuant to **Section 5.7**, no advance shall be made by the Company to an officer of the Company (except by reason of the fact that such officer is or was a director of the Company, in which event this paragraph shall not apply) in any Proceeding if a determination is reasonably and promptly made (i) by a majority vote of the directors who are not parties to such Proceeding, even though less than a quorum, or (ii) by a committee of such directors designated by majority vote of such directors, even though less than a quorum, or (iii) if there are no such directors, or if such directors so direct, by independent legal counsel in a written opinion, that facts known to the decision-making party at the time such determination is made demonstrate clearly and convincingly that such person acted in bad faith or in a manner that such person did not believe to be in or not opposed to the best interests of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.6&nbsp;&nbsp;&nbsp;&nbsp;*Limitation on Indemnification***. Subject to the requirements in **Section 5.3** and the DGCL, the Company shall not be obligated to indemnify any person pursuant to this **Article V** in connection with any Proceeding (or any part of any Proceeding):

&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;for which payment has actually been made to or on behalf of such person under any statute, insurance policy, indemnity provision, vote or otherwise, except with respect to any excess beyond the amount 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;for an accounting or disgorgement of profits pursuant to Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of federal, state or local statutory law or common law, if such person is held liable therefor (including pursuant to any settlement arrangements);

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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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;for any reimbursement of the Company by such person of any bonus or other incentive-based or equity-based compensation or of any profits realized by such person from the sale of securities of the Company, as required in each case under the Securities Exchange Act of 1934, as amended (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the "***Sarbanes-Oxley Act***"), or the payment to the Company of profits arising from the purchase and sale by such person of securities in violation of Section 306 of the Sarbanes-Oxley Act), if such person is held liable therefor (including pursuant to any settlement arrangements);

&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;initiated by such person, including any Proceeding (or any part of any Proceeding) initiated by such person against the Company or its directors, officers, employees, agents or other indemnitees, unless (a) the Board authorized the Proceeding (or the relevant part of the Proceeding) prior to its initiation, (b) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law, (c) otherwise required to be made under **Section 5.7** or (d) otherwise required by applicable law; 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;(v)&nbsp;&nbsp;&nbsp;&nbsp;if prohibited by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.7&nbsp;&nbsp;&nbsp;&nbsp;*Determination; Claim***. If a claim for indemnification or advancement of expenses under this **Article V** is not paid by the Company or on its behalf within 90 days after receipt by the Company of a written request therefor, the claimant shall be entitled to an adjudication by a court of competent jurisdiction of his or her entitlement to such indemnification or advancement of expenses. To the extent not prohibited by law, the Company shall indemnify such person against all expenses actually and reasonably incurred by such person in connection with any action for indemnification or advancement of expenses from the Company under this **Article V**, to the extent such person is successful in such action. In any such suit, the Company shall, to the fullest extent not prohibited by law, have the burden of proving that the claimant is not entitled to the requested indemnification or advancement of expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.8&nbsp;&nbsp;&nbsp;&nbsp;*Non-Exclusivity of Rights***. The indemnification and advancement of expenses provided by, or granted pursuant to, this **Article V** shall not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under the certificate of incorporation or any statute, bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person's official capacity and as to action in another capacity while holding such office. The Company is specifically authorized to enter into individual contracts with any or all of its directors, officers, employees or agents respecting indemnification and advancement of expenses, to the fullest extent not prohibited by the DGCL or other applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.9&nbsp;&nbsp;&nbsp;&nbsp;*Insurance***. The Company may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the Company, or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity, or arising out of such person's status as such, whether or not the Company would have the power to indemnify such person against such liability under the provisions of the DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.10&nbsp;&nbsp;&nbsp;&nbsp;*Survival***. The rights to indemnification and advancement of expenses conferred by this **Article V** shall continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of the heirs, executors and administrators of such a person.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.11&nbsp;&nbsp;&nbsp;&nbsp;*Effect of Repeal or Modification***. A right to indemnification or to advancement of expenses arising under a provision of the certificate of incorporation or a bylaw shall not be eliminated or impaired by an amendment to the certificate of incorporation or these bylaws after the occurrence of the act or omission that is the subject of the civil, criminal, administrative or investigative action, suit or proceeding for which indemnification or advancement of expenses is sought, unless the provision in effect at the time of such act or omission explicitly authorizes such elimination or impairment after such action or omission has occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.12&nbsp;&nbsp;&nbsp;&nbsp;*Certain Definitions***. For purposes of this **Article V**, references to the "***Company***" shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, employees or agents, so that any person who is or was a director, officer, employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, shall stand in the same position under the provisions of this **Article V** with respect to the resulting or surviving corporation as such person would have with respect to such constituent corporation if its separate existence had continued. For purposes of this **Article V**, references to "***other enterprises***" shall include employee benefit plans; references to "***fines***" shall include any excise taxes assessed on a person with respect to an employee benefit plan; and references to "***serving at the request of the Company***" shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner such person reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner "***not opposed to the best interests of the Company***" as referred to in this **Article V**.

**ARTICLE VI — STOCK**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1&nbsp;&nbsp;&nbsp;&nbsp;*Stock Certificates; Partly Paid Shares***. The shares of the Company shall be represented by certificates, *provided* that the Board may provide by resolution or resolutions that some or all of any or all classes or series of its stock shall be uncertificated shares. Any such resolution shall not apply to shares represented by a certificate until such certificate is surrendered to the Company. Every holder of stock represented by certificates shall be entitled to have a certificate signed by, or in the name of the Company by the Chairperson of the Board 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 Company representing the number of shares registered in certificate form. 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 has ceased to be such officer, transfer agent or registrar before such certificate is issued, it may be issued by the Company with the same effect as if such person were such officer, transfer agent or registrar at the date of issue. The Company shall not have power to issue a certificate in bearer form.

The Company may issue the whole or any part of its shares as partly paid and subject to call for the remainder of the consideration to be paid therefor. Upon the face or back of each stock certificate issued to represent any such partly paid shares, or upon the books and records of the Company in the case of uncertificated partly paid shares, the total amount of the consideration to be paid therefor and the amount paid thereon shall be stated. Upon the declaration of any dividend on fully paid shares, the Company shall declare a dividend upon partly paid shares of the same class, but only upon the basis of the percentage of the consideration actually paid thereon.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2&nbsp;&nbsp;&nbsp;&nbsp;*Special Designation on Certificates***. If the Company is authorized to issue more than one class of stock or more than one series of any class, then the powers, the designations, the preferences, and the relative, participating, optional or other special rights of each class of stock or series thereof and the qualifications, limitations or restrictions of such preferences and/or rights shall be set forth in full or summarized on the face or back of the certificate that the Company shall issue to represent such class or series of stock; *provided* that, except as otherwise provided in Section 202 of the DGCL, in lieu of the foregoing requirements there may be set forth on the face or back of the certificate that the Company shall issue to represent such class or series of stock, a statement that the Company will furnish without charge to each stockholder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class of stock or series thereof and the qualifications, limitations or restrictions of such preferences and/or rights. Within a reasonable time after the issuance or Transfer (as defined below) of uncertificated stock, the Company shall send to the registered owner thereof a written notice containing the information required to be set forth or stated on certificates pursuant to this **Section 6.2** or Sections 156, 202(a) or 218(a) of the DGCL or with respect to this **Section 6.2** a statement that the Company will furnish without charge to each stockholder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class of stock or series thereof and the qualifications, limitations or restrictions of such preferences and/or rights. Except as otherwise expressly provided by law, the rights and obligations of the holders of uncertificated stock and the rights and obligations of the holders of certificates representing stock of the same class and series shall be identical.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.3&nbsp;&nbsp;&nbsp;&nbsp;*Lost Certificates***. Except as provided in this **Section 6.3**, no new certificates for shares shall be issued to replace a previously issued certificate unless the latter is surrendered to the Company and cancelled at the same time. The Company may issue a new certificate of stock or uncertificated shares in the place of any certificate theretofore issued by it, alleged to have been lost, stolen or destroyed, and the Company may require the owner of the lost, stolen or destroyed certificate, or such owner's legal representative, to give the Company 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 or uncertificated shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4&nbsp;&nbsp;&nbsp;&nbsp;*Dividends***. The Board, subject to any restrictions contained in the certificate of incorporation or applicable law, may declare and pay dividends upon the shares of the Company's capital stock. Dividends may be paid in cash, in property, or in shares of the Company's capital stock, subject to the provisions of the certificate of incorporation.

The Board may set apart out of any of the funds of the Company available for dividends a reserve or reserves for any proper purpose and may abolish any such reserve.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.5&nbsp;&nbsp;&nbsp;&nbsp;*Stock Transfer Agreements***. The Company shall have power to enter into and perform any agreement with any number of stockholders of any one or more classes of stock of the Company to restrict the sale, transfer, assignment, pledge, or other disposal of or encumbering of any of the shares of stock of the Company or any right or interest therein, whether voluntarily or by operation of law, or by gift or otherwise (each, a "***Transfer***") of shares of stock of the Company of any one or more classes owned by such stockholders in any manner not prohibited by the DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.6&nbsp;&nbsp;&nbsp;&nbsp;*Registered Stockholders***. 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;shall be entitled to recognize the exclusive right of a person registered on its books as the owner of shares to receive dividends and to vote as such owner;

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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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;shall be entitled to hold liable for calls and assessments the person registered on its books as the owner of shares; 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;shall not be bound to recognize any equitable or other claim to or interest in such share or shares on the part of another person, whether or not it shall have express or other notice thereof, except as otherwise provided by the laws of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.7&nbsp;&nbsp;&nbsp;&nbsp;*Transfers***. Transfers of record of shares of stock of the Company shall be made only upon its books by the holders thereof, in person or by an attorney duly authorized, and, if such stock is certificated, upon the surrender of a certificate or certificates for a like number of shares, properly endorsed or accompanied by proper evidence of succession, assignation or authority to Transfer.

**ARTICLE VII — MANNER OF GIVING NOTICE AND WAIVER**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1&nbsp;&nbsp;&nbsp;&nbsp;*Notice of Stockholder Meetings***. Notice of any meeting of stockholders, if mailed, is given when deposited in the United States mail, postage prepaid, directed to the stockholder at such stockholder's address as it appears on the Company's records. An affidavit of the Secretary or an Assistant Secretary of the Company or of the transfer agent or other agent of the Company that the notice has been given shall, in the absence of fraud, be *prima facie* evidence of the facts stated therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2&nbsp;&nbsp;&nbsp;&nbsp;*Notice by Electronic Transmission***. Without limiting the manner by which notice otherwise may be given effectively to stockholders pursuant to the DGCL, the certificate of incorporation or these bylaws, any notice to stockholders given by the Company 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. Any such consent shall be revocable by the stockholder by written notice to the Company. Any such consent shall be deemed revoked if:

&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 Company is unable to deliver by electronic transmission two consecutive notices given by the Company in accordance with such consent; 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;such inability becomes known to the Secretary or an Assistant Secretary of the Company or to the transfer agent, or other person responsible for the giving of notice.

However, the inadvertent failure to treat such inability as a revocation shall not invalidate any meeting or other action.

Any notice given pursuant to the preceding paragraph shall be deemed given:

&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 by facsimile telecommunication, when directed to a number at which the stockholder has consented to receive 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;if by electronic mail, when directed to an electronic mail address at which the stockholder has consented to receive 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;if by a posting on an electronic network together with separate notice to the stockholder of such specific posting, upon the later of (A) such posting and (B) the giving of such separate 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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;if by any other form of electronic transmission, when directed to the stockholder.

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An affidavit of the Secretary or an Assistant Secretary or of the transfer agent or other agent of the Company that the notice has been given by a form of electronic transmission shall, in the absence of fraud, be *prima facie* evidence of the facts stated therein.

An "***electronic transmission*"** means any form of communication, not directly involving the physical transmission of paper, that creates a record that may be retained, retrieved, and reviewed by a recipient thereof, and that may be directly reproduced in paper form by such a recipient through an automated process.

Notice by a form of electronic transmission shall not apply to Sections 164, 296, 311, 312 or 324 of the DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3&nbsp;&nbsp;&nbsp;&nbsp;*Notice to Stockholders Sharing an Address***. Except as otherwise prohibited under the DGCL, without limiting the manner by which notice otherwise may be given effectively to stockholders, any notice to stockholders given by the Company under the provisions of the DGCL, the certificate of incorporation or these bylaws shall be effective if given by a single written notice to stockholders who share an address if consented to by the stockholders at that address to whom such notice is given. Any such consent shall be revocable by the stockholder by written notice to the Company. Any stockholder who fails to object in writing to the Company, within 60 days of having been given written notice by the Company of its intention to send the single notice, shall be deemed to have consented to receiving such single written notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4&nbsp;&nbsp;&nbsp;&nbsp;*Notice to Person with Whom Communication is Unlawful***. Whenever notice is required to be given, under the DGCL, the certificate of incorporation or these bylaws, to any person with whom communication is unlawful, the giving of such notice to such person shall not be required and there shall be no duty to apply to any governmental authority or agency for a license or permit to give such notice to such person. Any action or meeting which shall be taken or held without notice to any such person with whom communication is unlawful shall have the same force and effect as if such notice had been duly given. In the event that the action taken by the Company is such as to require the filing of a certificate under the DGCL, the certificate shall state, if such is the fact and if notice is required, that notice was given to all persons entitled to receive notice except such persons with whom communication is unlawful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.5&nbsp;&nbsp;&nbsp;&nbsp;*Waiver of Notice***. Whenever notice is required to be given under any provision of the DGCL, the certificate of incorporation or these bylaws, a written waiver, signed by the person entitled to notice, or a waiver by electronic transmission by the person entitled to notice, whether before or after the time of the event for which notice is to be given, 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 need be specified in any written waiver of notice or any waiver by electronic transmission unless so required by the certificate of incorporation or these bylaws.

**ARTICLE VIII — GENERAL MATTERS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1&nbsp;&nbsp;&nbsp;&nbsp;*Fiscal Year***. The fiscal year of the Company shall be fixed by resolution of the Board and may be changed by the Board.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2&nbsp;&nbsp;&nbsp;&nbsp;*Seal***. The Company may adopt a corporate seal, which shall be in such form as may be approved from time to time by the Board. The Company may use the corporate seal by causing it or a facsimile thereof to be impressed or affixed or in any other manner reproduced.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.3&nbsp;&nbsp;&nbsp;&nbsp;*Annual Report***. The Company shall cause an annual report to be sent to the stockholders of the Company to the extent required by applicable law. If and so long as there are fewer than 100 holders of record of the Company's shares, the requirement of sending an annual report to the stockholders of the Company is expressly waived (to the extent permitted under applicable law).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.4&nbsp;&nbsp;&nbsp;&nbsp;*Construction; Definitions***. Unless the context requires otherwise, the general provisions, rules of construction, and definitions in the DGCL shall govern the construction of these bylaws. Without limiting the generality of this provision, the singular number includes the plural, the plural number includes the singular, and the term "***person***" includes both a corporation and a natural person.

**ARTICLE IX — RIGHT OF FIRST REFUSAL**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.1&nbsp;&nbsp;&nbsp;&nbsp;*Right of First Refusal***. No stockholder shall sell, assign, pledge, or in any manner transfer any of the shares of common stock of the Company (collectively, "***Common Shares***") or any right or interest therein, whether voluntarily or by operation of law, or by gift or otherwise, except by a transfer which meets the requirements hereinafter set forth in this bylaw:

&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 stockholder receives from anyone a bona fide offer acceptable to the stockholder to purchase any Common Shares held by such stockholder, then the stockholder shall first give written notice thereof to the Company. The notice shall name the proposed transferee and state the type and number of Common Shares to be transferred, the price per share and all other terms and conditions of the offer.

&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;For fifteen (15) days following receipt of such notice, the Company or its assigns shall have the option to purchase all or, with the consent of the stockholder, any lesser part of the Common Shares specified in the notice at the price and upon the terms set forth in such bona fide offer. In the event the Company elects to purchase all or, as agreed by the stockholder, a lesser part, of the Common Shares, it shall give written notice to the selling stockholder of its election and settlement for said Common Shares shall be made as provided below in paragraph (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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;In the event the Company elects to acquire any of the Common Shares of the selling stockholder as specified in said selling stockholder's notice, the Secretary of the Company shall so notify the selling stockholder and settlement thereof shall be made in cash within thirty (30) days after the Secretary of the Company receives said selling stockholder's notice; provided that if the terms of payment set forth in said selling stockholder's notice were other than cash against delivery, the Company shall pay for said Common Shares on the same terms and conditions set forth in said selling stockholder's 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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;In the event the Company does not elect to acquire all of the Common Shares specified in the selling stockholder's notice, said selling stockholder may, within the sixty (60) day period following the expiration of the option rights granted to the Company, sell elsewhere the Common Shares specified in said selling stockholder's notice which were not acquired by the Company, in accordance with the provisions of paragraph (c) of this bylaw, provided that said sale shall not be on terms and conditions more favorable to the purchaser than those contained in the bona fide offer set forth in said selling stockholder's notice. All Common Shares so sold by said selling stockholder shall continue to be subject to the provisions of this bylaw in the same manner as before said transfer.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2&nbsp;&nbsp;&nbsp;&nbsp;*Exempted Transfers***. Notwithstanding anything to the contrary contained herein, the following transactions shall be exempt from the provisions of this bylaw:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;A stockholder's transfer of any or all Common Shares held either during such stockholder's lifetime or on death by will or intestacy to such stockholder's immediate family. "***Immediate family***" as used herein shall mean spouse, lineal descendent, father, mother, brother, or sister of the stockholder making such transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;A stockholder's bona fide pledge or mortgage of any Common Shares with a commercial lending institution, provided that any subsequent transfer of said Common Shares by said institution shall be conducted in the manner set forth in this bylaw.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;A stockholder's transfer of any or all of such stockholder's Common Shares to any other stockholder of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;A stockholder's transfer of any or all of such stockholder's Common Shares to a person who, at the time of such transfer, is an officer or director of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;A corporate stockholder's transfer of any or all of its Common Shares pursuant to and in accordance with the terms of any merger, consolidation, reclassification of Common Shares or capital reorganization of the corporate stockholder, or pursuant to a sale of all or substantially all of the stock or assets of a corporate stockholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;A corporate stockholder's transfer of any or all of its Common Shares of to any or all of its stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;A transfer of any or all of the Common Shares held by a stockholder which is a limited or general partnership to any or all of its partners.

In any such case, the transferee, assignee, or other recipient shall receive and hold such Common Shares subject to the provisions of this bylaw, and there shall be no further transfer of such Common Shares except in accord with this bylaw

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.3&nbsp;&nbsp;&nbsp;&nbsp;*Waiver***. The provisions of this bylaw may be waived with respect to any transfer either by the Company, upon duly authorized action of its Board of Directors, or by the stockholders, upon the express written consent of the owners of a majority of the voting power of the Company (excluding the votes represented by those Common Shares to be sold by the selling stockholder). This bylaw may be amended or repealed either by a duly authorized action of the Board of Directors or by the stockholders upon the express written consent of the owners of a majority of the voting power of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.4&nbsp;&nbsp;&nbsp;&nbsp;*Violation***. Any sale or transfer, or purported sale or transfer, of Common Shares shall be null and void unless the terms, conditions, and provisions of this bylaw are strictly observed and followed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.5&nbsp;&nbsp;&nbsp;&nbsp;*Termination***. The foregoing right of first refusal shall 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 Securities and Exchange Commission under the Securities Act of 1933, as amended.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.6&nbsp;&nbsp;&nbsp;&nbsp;*Legend***. The certificates representing the Common Shares shall bear the following legend so long as the foregoing right of first refusal remains in effect:

"THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A RIGHT OF FIRST REFUSAL OPTION IN FAVOR OF THE CORPORATION, AS PROVIDED IN THE BYLAWS OF THE CORPORATION."

**ARTICLE X — RESERVED**

**Reserved**.

**ARTICLE XI — AMENDMENTS**

These bylaws may be adopted, amended or repealed by the stockholders entitled to vote. However, the Company may, in its certificate of incorporation, confer the power to adopt, amend or repeal bylaws upon the directors. The fact that such power has been so conferred upon the directors shall not divest the stockholders of the power, nor limit their power to adopt, amend or repeal bylaws.

A bylaw amendment adopted by stockholders which specifies the votes that shall be necessary for the election of directors shall not be further amended or repealed by the Board.

**ARTICLE XII**

The Company shall have the power to enter into and perform any agreement with any number of stockholders of any one or more classes of stock of the Company to restrict the transfer of shares of stock of the Company of any one or more classes owned by such stockholders in any manner not prohibited by the DGCL.

&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;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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Restrictions on Transfer*. No stockholder of the Company (a "Stockholder") may sell, assign, transfer, pledge, encumber or in any manner dispose of ("Transfer") any Common Shares, whether voluntarily or by operation of law, or by gift or otherwise, other than by means of a Permitted Transfer (as defined below). If any provision(s) of any agreement(s) currently in effect by and between the Company and any Stockholder (the "Stockholder Agreement(s)") conflicts with this Section 12.2 of the Bylaws, this Section 12.2 shall govern, and the remaining provision(s) of the Stockholder Agreement(s) that do not conflict with this Section 12.2 shall continue in full force and effect. Notwithstanding anything contained herein to the contrary, the provisions of this Section 12.2 shall not apply to the Transfer of shares of Common Stock issued or issuable upon conversion 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Permitted Transfers*. For purposes of this Section 12.2, a "Permitted Transfer" shall mean 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;any Transfer by a Stockholder of any or all of such Stockholder's Common Shares to 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;(2)&nbsp;&nbsp;&nbsp;&nbsp;any Transfer by a Stockholder of any or all of such Stockholder's Common Shares to such Stockholder's Immediate Family (as defined in Section 9.2 above);

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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;(3)&nbsp;&nbsp;&nbsp;&nbsp;any Transfer by a Stockholder of any or all of such Stockholder's Common Shares effected pursuant to such Stockholder's will or the laws of intestate succession;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;if a Stockholder is a partnership, limited liability company, or Company, any Transfer by such Stockholder of any or all of such Stockholder's Common Shares to the partners, members, retired partners, retired members, stockholders, and/or Affiliates (as defined below) of such Stockholder; <u>provided</u> that no Stockholder may Transfer any of such Stockholder's Common Shares to a Special Purpose Entity (as defined below) pursuant to this subsection (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;(5)&nbsp;&nbsp;&nbsp;&nbsp;a corporate Stockholder's transfer of any or all of its Common Shares pursuant to and in accordance with the terms of any merger, consolidation, reclassification or Common Shares or capital reorganization of the corporate stockholder, or pursuant to a sale of all or substantially all of the stock or assets of a corporate stockholder; and/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;(6)&nbsp;&nbsp;&nbsp;&nbsp;any Transfer of Common Shares approved by the Board.

Notwithstanding the foregoing, if a Permitted Transfer is approved pursuant to this Section 12.2(b) and the Common Shares of the transferring party are subject to co-sale rights pursuant to a Stockholder Agreement (the "Co-Sale Rights"), the persons and/or entities entitled to the Co-Sale Rights shall be permitted to exercise their respective Co-Sale Rights in conjunction with that specific Permitted Transfer without any additional approval 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Certain Definitions*. For purposes of this Section 12.2:

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;"Affiliate" shall mean, with respect to any person or entity who or which, directly or indirectly, controls, is controlled by, or is under common control with the relevant Stockholder, including, without limitation, any general partner, managing partner, managing member, officer or director of such Stockholder 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 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp; "Special Purpose Entity" shall mean an entity that holds or would hold only Common Shares or has or would have a class or series of security holders with beneficial interests primarily in Common Shares (including for such purpose an entity that holds cash and/or cash equivalents intended to purchase Common 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Void Transfers*. Any Transfer of Common Shares shall be null and void unless the terms, conditions and provisions of this Section 12.2 are strictly observed and followed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;*Waiver of Restrictions on Transfer*. The foregoing restriction on transfer may be waived upon duly authorized action of the Board *provided, however*, that such restrictions shall continue to apply to the Common Shares subsequent to such 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;*Termination of Restriction on Transfer*. The foregoing restriction on transfer shall lapse upon the earlier of (i) immediately prior to the consummation of a Deemed Liquidation Event (as such term is defined in the certificate of incorporation, as it may be amended and/or restated from time to time), or (ii) immediately prior to the Company's first firm commitment underwritten public offering of its securities pursuant to a registration statement 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;(g)&nbsp;&nbsp;&nbsp;&nbsp;*Legends*. The certificates representing shares of Common Stock of the Company (except for shares of Common Stock issued upon conversion of Preferred Stock) shall bear on their face the following legend so long as the foregoing restriction on transfer remains in effect:

"THE SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE BYLAWS OF THE COMPANY. COPIES OF THE BYLAWS OF THE COMPANY MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY."

## Exhibit 4.2

**Exhibit 4.2**

**INVESTORS' RIGHTS AGREEMENT**

THIS INVESTORS' RIGHTS AGREEMENT (this "**Agreement**"), is made as of the 7th day of May, 2020, by and among Neutron Holdings, Inc., a Delaware corporation (the "**Company**"), and each of the investors listed on <u>Schedule A</u> hereto, each of which is referred to in this Agreement as an "**Investor**" and any investor that becomes a party to this Agreement in accordance with <u>Section 6.9</u> hereof.

**<u>RECITALS</u>**

**WHEREAS**, the Company and the Investors are parties to that certain Note Purchase Agreement of even date herewith (the "**Purchase Agreement**"); and

**WHEREAS**, in order to induce the Company to enter into the Purchase Agreement and to induce the Investors to invest funds in the Company pursuant to the Purchase Agreement, the Investors and the Company hereby agree that this Agreement shall govern the rights of the Investors to cause the Company to register shares of Common Stock issuable to the Investors, to receive certain information from the Company, and to participate in future equity offerings by the Company, and shall govern certain other matters as set forth in this Agreement;

**NOW, THEREFORE**, the parties 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;"**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 Person, including without limitation any general partner, managing member, officer, director or trustee of such Person, or any venture capital fund or registered investment company now or hereafter existing that is controlled by one or more general partners, managing members or investment adviser of, or shares the same management company or investment adviser with, such Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 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;1.3&nbsp;&nbsp;&nbsp;&nbsp;"**Certificate of Incorporation**" means the Company's Amended and Restated Certificate of Incorporation, as amended and/or restated 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;1.4&nbsp;&nbsp;&nbsp;&nbsp;"**Common Stock**" means shares of the Company's common stock, par value $0.0001 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;1.5&nbsp;&nbsp;&nbsp;&nbsp;"**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 Company's then-current line of business, but shall not include (i) any financial investment firm or collective investment vehicle that, together with its Affiliates, holds less than twenty percent (20)% of the outstanding equity of any Competitor and does not, nor do any of its

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Affiliates, have a right to designate any members of the board of directors of any Competitor, (ii) Uber, (iii) GV 2017, L.P. or GV. 2019, L.P., (iii) Alphabet Holdings LLC., and (iv) Fifth Wall Ventures SPV XII, L.P., Fifth Wall Ventures SPV IX, L.P. or Fifth Wall Ventures, L.P.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;"**Damages**" means any loss, damage, claim 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, claim or liability (or any action in respect thereof) arises out of or is based upon: (i) 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; (ii) 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 (iii) 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;"**Derivative Securities**" means any securities or rights convertible into, or exercisable or exchangeable for (in each case, directly or indirectly)**,** Common Stock, including options, warrants, and convertible promissory notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;"**Exchange Act**" means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;"**Excluded Registration**" means (i) a registration relating to the sale or grant of securities to employees of the Company or a subsidiary pursuant to a stock option, stock purchase, equity incentive or similar plan; (ii) a registration relating to an SEC Rule 145 transaction; (iii) 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 the Registrable Securities; or (iv) a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;"**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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;"**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 forward incorporation of substantial information by reference to other documents filed by the Company with the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;"**GAAP**" means generally accepted accounting principles in the United States as in effect 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13&nbsp;&nbsp;&nbsp;&nbsp;"**Holder**" means any holder of Registrable Securities who is a party to 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14&nbsp;&nbsp;&nbsp;&nbsp;"**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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;"**Initiating Holders**" means, collectively, Holders who properly initiate a registration request 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.16&nbsp;&nbsp;&nbsp;&nbsp;"**IPO**" means the Company's first underwritten public offering of its Common Stock 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.17&nbsp;&nbsp;&nbsp;&nbsp;"**Junior Preferred Director**" means any director of the Company that the holders of record of the Series 1 Stock and Series 2 Preferred Stock are entitled to elect, voting together exclusively and as a separate class, pursuant to the Certificate of Incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;"**Major Investor**" means Uber, GV 2017, L.P., GV. 2019, L.P., Alphabet Holdings LLC, Andreessen Horowitz Fund IV, L.P. as nominee, and AH Parallel Fund V, L.P., as nominee; in each case, for so long as such entity holds shares of Preferred 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.19&nbsp;&nbsp;&nbsp;&nbsp;"**New Securities**" means, collectively, equity securities of the Company, whether or not currently authorized, as well as 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 such equity 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;1.20&nbsp;&nbsp;&nbsp;&nbsp;"**Person**" means any individual, corporation, partnership, trust, limited liability company, association or other 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;1.21&nbsp;&nbsp;&nbsp;&nbsp;"**Preferred Directors**" means the Junior Preferred Director and the Senior 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;1.22&nbsp;&nbsp;&nbsp;&nbsp;"**Preferred Stock**" means, collectively, shares of the Company's Series 1 Stock, Series 2 Preferred Stock, and Series 3 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;1.23&nbsp;&nbsp;&nbsp;&nbsp;"**Registrable Securities**" means (i) the Common Stock issuable or issued upon conversion of the Preferred Stock; (ii) any Common Stock, or any Common Stock issued or issuable (directly or indirectly) upon conversion and/or exercise of any other securities of the Company, held by the Investors including, for the avoidance of doubt, any Common Stock, or Common Stock issued pursuant to the conversion of Preferred Stock, issued upon conversion of those certain notes sold pursuant to the Purchase Agreement by and between the Company and certain investors, dated on or around the date hereof; and (iii) any Common Stock issued as (or issuable upon the

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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 <u>(i)</u> and <u>(ii)</u> above; 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 <u>Subsection 6.1</u>, excluding for purposes of <u>Subsections 4.1</u> and <u>6.6</u> the Common Stock issuable or issued upon conversion of the Series 1 Stock and excluding for purposes of <u>Section 2</u> any shares for which registration rights have terminated pursuant to <u>Subsection 2.13</u> of this Agreement. For the avoidance of doubt, Registrable Securities shall not include shares of Common Stock issued upon conversion of the Company's prior series of Series A, B, C, C-1, D and D-1 Preferred Stock that were converted on or about the date hereof, that have not been exchanged for Series 1 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;1.24&nbsp;&nbsp;&nbsp;&nbsp;"**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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25&nbsp;&nbsp;&nbsp;&nbsp;"**Restricted Securities**" means the securities of the Company required to be notated with the legend set forth in <u>Subsection 2.12(b)</u> 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.26&nbsp;&nbsp;&nbsp;&nbsp;"**SEC**" means the Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.27&nbsp;&nbsp;&nbsp;&nbsp;"**SEC Rule 144**" means Rule 144 promulgated by the SEC 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.28&nbsp;&nbsp;&nbsp;&nbsp;"**SEC Rule 145**" means Rule 145 promulgated by the SEC 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.29&nbsp;&nbsp;&nbsp;&nbsp;"**Securities Act**" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.30&nbsp;&nbsp;&nbsp;&nbsp;"**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 <u>Subsection 2.6</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;1.31&nbsp;&nbsp;&nbsp;&nbsp;"**Series 1 Stock**" means shares of the Company's Series 1-A Preferred Stock, Series 1-A1 Preferred Stock, Series 1-B Preferred Stock, Series 1-C Preferred Stock, and Series 1-D 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;1.32&nbsp;&nbsp;&nbsp;&nbsp;"**Series 1-A Preferred Stock**" means shares of the Company's Series 1-A Preferred Stock, par value $0.0001 per 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.33&nbsp;&nbsp;&nbsp;&nbsp;"**Series 1-A1 Preferred Stock**" means shares of the Company's Series 1-A1 Preferred Stock, par value $0.0001 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;1.34&nbsp;&nbsp;&nbsp;&nbsp;"**Series 1-B Preferred Stock**" means shares of the Company's Series 1-B Preferred Stock, par value $0.0001 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;1.35&nbsp;&nbsp;&nbsp;&nbsp;"**Series 1-C Preferred Stock**" means shares of the Company's Series 1-C Preferred Stock, par value $0.0001 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;1.36&nbsp;&nbsp;&nbsp;&nbsp;"**Series 1-D Preferred Stock**" means shares of the Company's Series 1-D Preferred Stock, par value $0.0001 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;1.37&nbsp;&nbsp;&nbsp;&nbsp;"**Series 2 Preferred Stock**" means shares of the Company's Series 2 Preferred Stock, par value $0.0001 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;1.38&nbsp;&nbsp;&nbsp;&nbsp;"**Series 3 Preferred Stock**" means shares of the Company's Series 3 Preferred Stock, par value $0.0001 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;1.39&nbsp;&nbsp;&nbsp;&nbsp;"**Senior Preferred Director**" means any director of the Company that the holders of record of the Series 3 Preferred Stock are entitled to elect, exclusively and as a separate class, pursuant to the Certificate of Incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40&nbsp;&nbsp;&nbsp;&nbsp;"**Uber**" means Uber Technologies, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.41&nbsp;&nbsp;&nbsp;&nbsp;"**Uber Note**" means the secured convertible promissory note sold to Uber pursuant to the Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Registration Rights</u>. The Company covenants and agrees 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;2.1&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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Form S-1 Demand</u>. If at any time after the earlier of (i) five (5) years after the date of this Agreement or (ii) one hundred eighty (180) days after the effective date of the registration statement for the IPO, 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 at least forty percent (40%) of the Registrable Securities then outstanding, then the Company shall (x) within ten (10) days after the date such request is given, give notice thereof (the "**Demand Notice**") to all Holders other than the Initiating Holders; and (y) as soon as practicable, and in any event within sixty (60) 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 of the date the Demand Notice is given, and in each case, subject to the limitations of <u>Subsections 2.1(c)</u> and <u>2.3.</u>

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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;<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 Holders of at least thirty percent (30%) of the Registrable 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 $10 million, then 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) 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 <u>Subsections 2.1(c)</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;(c)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing obligations, if the Company furnishes to Holders requesting a registration pursuant to this <u>Subsection 2.1</u> a certificate signed by the Company's chief executive officer stating that in the good faith judgment of the Board of Directors 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 (i) materially interfere with a significant acquisition, corporate reorganization, or other similar transaction involving the Company; (ii) require premature disclosure of material information that the Company has a bona fide business purpose for preserving as confidential; or (iii) 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 one hundred twenty (120) days after the request of the Initiating Holders is given; <u>provided</u>, <u>however</u>, that the Company may not invoke this right more than once in any twelve (12) month period; and <u>provided further</u> that the Company shall not register any securities for its own account or that of any other stockholder during such one hundred twenty (120) 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to <u>Subsection 2.1(a)</u> <u>(i)</u> 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, <u>provided</u> that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; (ii) after the Company has effected two registrations pursuant to <u>Subsection 2.1(a)</u>; or (iii) 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 <u>Subsection 2.1(b)</u>. The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to <u>Subsection 2.1(b)</u> (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, <u>provided</u> 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

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registrations pursuant to <u>Subsection 2.1(b)</u> within the twelve (12) month period immediately preceding the date of such request. A registration shall not be counted as "effected" for purposes of this <u>Subsection 2.1(d)</u> 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 forfeit their right to one demand registration statement pursuant to <u>Subsection 2.6</u>, in which case such withdrawn registration statement shall be counted as "effected" for purposes of this <u>Subsection 2.1(d)</u>; <u>provided</u>, that if such withdrawal is during a period the Company has deferred taking action pursuant to <u>Subsection 2.1(c)</u>, then the Initiating Holders may withdraw their request for registration and such registration will not be counted as "effected" for purposes of this <u>Subsection 2.1(d)</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;2.2&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) 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 <u>Subsection 2.3</u>, 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 <u>Subsection 2.2</u> 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 <u>Subsection 2.6</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;2.3&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;(a)&nbsp;&nbsp;&nbsp;&nbsp;If, pursuant to <u>Subsection 2.1</u>, 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 <u>Subsection 2.1</u>, and the Company shall include such information in the Demand Notice. The underwriter(s) will be selected by the Board of Directors and shall be reasonably acceptable to a majority in interest of 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 and the inclusion of such Holder's Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with the Company as provided in <u>Subsection 2.4(e)</u>) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting. Notwithstanding any other provision of this <u>Subsection 2.3</u>, 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

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among such Holders of Registrable Securities, including the Initiating Holders, in proportion (as nearly as practicable) to the number of Registrable Securities owned 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 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 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;In connection with any offering involving an underwriting of shares of the Company's capital stock pursuant to <u>Subsection 2.2</u>, 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, and then only in such quantity as the underwriters in their sole discretion determine will not jeopardize the success of the offering by the Company. 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 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 (i) 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, or (ii) the number of Registrable Securities included in the offering be reduced below twenty percent (20%) 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 For purposes of the provision in this <u>Subsection 2.3(b)</u> 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 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;For purposes of <u>Subsection 2.1</u>, a registration shall not be counted as "effected" if, as a result of an exercise of the underwriter's cutback provisions in

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<u>Subsection 2.3(a)</u>, 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Obligations of the Company</u>. Whenever required under this <u>Section 2</u> 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;(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 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 one hundred twenty (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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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, and the 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;furnish to the selling Holders such numbers of copies of a prospectus, including a preliminary 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;(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;(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;(f)&nbsp;&nbsp;&nbsp;&nbsp;use its commercially 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;

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

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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;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;(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 forming a part of such registration statement has been filed; 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;(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.

In addition, the Company shall ensure that, at all times after any registration statement covering a public offering of securities of the Company under the Securities Act shall have become effective, its insider trading policy shall provide that the Company's directors may implement a trading program under Rule 10b5-1 of 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5&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 <u>Section 2</u> 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6&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 <u>Section 2</u>, 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, not to exceed $35,000 of one counsel for the selling Holders ("**Selling Holder Counsel**"), shall be borne and paid by the Company; <u>provided</u>, <u>however</u>, that the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant to <u>Subsection 2.1</u> 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 <u>Subsections 2.1(a)</u> or <u>2.1(b)</u>, as the case may be; <u>provided</u> <u>further</u> that 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 from that known to the Holders at the time of their request and have withdrawn

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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 <u>Subsections 2.1(a)</u> or <u>2.1(b)</u>. All Selling Expenses relating to Registrable Securities registered pursuant to this <u>Section 2</u> 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7&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 <u>Section 2.</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;2.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification</u>. If any Registrable Securities are included in a registration statement under this <u>Section 2</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;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 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 <u>Subsection 2.8(a)</u> 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, 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;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 the indemnity agreement contained in this

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<u>Subsection 2.8(b)</u> 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; and <u>provided</u> <u>further</u> that in no event shall the aggregate amounts payable by any Holder by way of indemnity or contribution under <u>Subsections 2.8(b)</u> and <u>2.8(d)</u> 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;Promptly after receipt by an indemnified party under this <u>Subsection 2.8</u> 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 <u>Subsection 2.8</u>, 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, 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 <u>Subsection 2.8</u>, to the extent that such failure materially prejudices the indemnifying party's ability to defend such action. The failure to give notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this <u>Subsection 2.8</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;(d)&nbsp;&nbsp;&nbsp;&nbsp;To provide for just and equitable contribution to joint liability under the Securities Act in any case in which either: (i) any party otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this <u>Subsection 2.8</u> 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 <u>Subsection 2.8</u> provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of any party hereto for which indemnification is provided under this <u>Subsection 2.8</u>, 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

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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, in any such case (x) 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, and (y) 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 <u>provided</u> <u>further</u> that in no event shall a Holder's liability pursuant to this <u>Subsection 2.8(d)</u>, when combined with the amounts paid or payable by such Holder pursuant to <u>Subsection 2.8(b)</u>, exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of willful misconduct or fraud 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;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 <u>Subsection 2.8</u> shall survive the completion of any offering of Registrable Securities in a registration under this <u>Section 2</u>, 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Reports Under 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;(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), 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

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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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10&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 (i) provide to such holder or prospective holder the right to include securities in any registration on other than either a pro rata basis with respect to the Registrable Securities or on a subordinate basis after all Holders have had the opportunity to include in the registration and offering all shares of Registrable Securities that they wish to so include; <u>provided</u> that this limitation shall not apply to Registrable Securities acquired by any additional Investor that becomes a party to this Agreement in accordance with <u>Subsection 6.9</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;2.11&nbsp;&nbsp;&nbsp;&nbsp;<u>"Market Stand-off" Agreement</u>. Each Holder hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the registration by the Company of shares of its Common Stock or any other equity securities under the Securities Act on a registration statement on Form S-1 or Form S-3, and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days in the case of the IPO, or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (1) the publication or other distribution of research reports, and (2) analyst recommendations and opinions, including, but not limited to, the restrictions contained in applicable FINRA rules, or any successor provisions or amendments thereto), or ninety (90) days in the case of any registration other than the IPO, or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (1) the publication or other distribution of research reports and (2) analyst recommendations and opinions, including, but not limited to, the restrictions contained in applicable FINRA rules, or any successor provisions or amendments thereto, (i) 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 (ii) 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 (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash, or otherwise. The foregoing provisions of this <u>Subsection 2.11</u> shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, or the transfer of any shares to any trust for the direct or indirect benefit of the Holder or the immediate family of the Holder, <u>provided</u> that the trustee of the trust agrees to be bound in writing by the restrictions set forth herein, and <u>provided</u> <u>further</u> that any such transfer shall not involve a disposition for

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value, and shall be applicable to the Holders only if all officers and directors are subject to the same restrictions and the Company uses commercially reasonable efforts to obtain a similar agreement from all 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). The underwriters in connection with such registration are intended third-party beneficiaries of this <u>Subsection 2.11</u> 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 that are consistent with this <u>Subsection 2.11</u> 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 Holders subject to such agreements, based on the number of shares subject to such agreements. This Market Stand-Off provision will superscede and control over any previous Company Market Stand-Off provision to which the Holder is a 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;2.12&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;(a)&nbsp;&nbsp;&nbsp;&nbsp;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. A transferring Holder will cause any proposed purchaser, pledgee, or transferee of the Preferred Stock and/or 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Each certificate, instrument, or book entry representing (i) the Preferred Stock, (ii) the Registrable Securities, and (iii) any other securities issued in respect of the securities referenced in clauses (i) and (ii), upon any stock split, stock dividend, recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of <u>Subsection 2.12(c)</u>) be notated with a legend substantially in the following form:

THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. SUCH SHARES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID EXEMPTION FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT.

THE SECURITIES REPRESENTED HEREBY 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.

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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 <u>Subsection 2.12</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;(c)&nbsp;&nbsp;&nbsp;&nbsp;The holder of such Restricted Securities, by acceptance of ownership thereof, agrees to comply in all respects with the provisions of this <u>Section 2</u>. Before any proposed sale, pledge, or transfer of any Restricted Securities, unless there 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 (i) 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; (ii) 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 (iii) 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 (x) in any transaction in compliance with SEC Rule 144; or (y) in any transaction in which such Holder distributes Restricted Securities to an Affiliate of such Holder for no consideration; <u>provided</u> that each transferee agrees in writing to be subject to the terms of this <u>Subsection 2.12</u>. Each certificate, instrument, or book entry representing the Restricted Securities transferred as above provided shall be notated with, except if such transfer is made pursuant to SEC Rule 144, the appropriate restrictive legend set forth in <u>Subsection 2.12(b)</u>, except that such certificate instrument, or book entry shall not be notated with 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination of Registration Rights</u>. The right of any Holder to request registration or inclusion of Registrable Securities in any registration pursuant to <u>Subsections 2.1</u> or <u>2.2</u> shall terminate upon the earliest to occur of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 closing of a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;such time after consummation of the IPO as Rule 144 or another similar exemption under the Securities Act is available for the sale of all of such Holder's shares without limitation during a three-month period without 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;the third anniversary of the IPO.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Information and Observer 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Delivery of Financial Statement</u>s. The Company shall deliver to each Major Investor, <u>provided</u> that the Board of Directors 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;(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 end of such year, (ii) statements of income and of cash flows for such year, and a comparison between (x) the actual amounts as of and for such fiscal year and (y) the comparable amounts for the prior year and as included in the Budget (as defined in <u>Subsection 3.1(e)</u>) for such year, with an explanation of any material differences between such amounts and a schedule as to the sources and applications of funds for such year, and (iii) a statement of stockholders' equity as of the end of such year, all such financial statements audited and certified by independent public accountants of nationally recognized standing selected by the Company unless such audit requirement is waived by the unanimous consent 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;&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 thirty (30) days after the end of each quarter of each fiscal year of the Company, unaudited statements of income and 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; and (ii) not contain all notes thereto that may be required in accordance with GAAP) as well as a current capitalization table of the Company (certified by the chief financial officer of the Company), showing the number of issued and outstanding shares and any securities that may be converted or exercised into shares pursuant to then outstanding agreements, undertaking, commitments or the like;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;as soon as practicable, but in any event within thirty (30) days of the end of each month, an unaudited income statement and statement of cash flows for such month, and an unaudited balance sheet and statement of stockholders' equity as of the end of such month, all prepared in accordance with GAAP (except that such financial statements 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);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 soon as practicable, but in any event thirty (30) days before the end of each fiscal year, a budget and business plan for the next fiscal year (collectively, the "**Budget**"), 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 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;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; <u>provided</u>, <u>however</u>, that the Company shall not be obligated under this <u>Subsection 3.1</u> to provide information (i) that the Company reasonably determines in good faith to be a trade secret or confidential information (unless covered by an enforceable confidentiality

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agreement, in a form acceptable to the Company); or (ii) the disclosure of which would adversely affect the attorney-client privilege between the Company and its counsel.

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 the foregoing sections shall be the consolidated and consolidating financial statements of the Company and all such consolidated subsidiaries.

Notwithstanding anything else in this <u>Subsection 3.1</u> to the contrary, the Company may cease providing the information set forth in this <u>Subsection 3.1</u> during the period starting with the date thirty (30) days before the Company's good-faith estimate of the date of filing of a registration statement if it reasonably concludes 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 <u>Subsection 3.1</u> shall be reinstated at such time as the Company is no longer actively employing its commercially reasonable efforts to cause such registration statement to become 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;3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Inspection</u>. The Company shall permit each Major Investor (<u>provided</u> that the Board of Directors has not reasonably determined that such Major Investor is a Competitor of the Company), at such Major Investor's expense, 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 <u>Subsection 3.2</u> to provide access to any information that it reasonably and in good faith considers to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in form acceptable to the Company) 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Observer Rights</u>. If between January 1, 2024 and December 31, 2024, Broad Bao is not currently serving on the Board of Directors, then the Company shall invite Mr. Bao to attend all meetings of the Board of Directors in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices, minutes, consents, and other materials that it provides to its directors at the same time and in the same manner as provided to such directors; <u>provided</u>, <u>however</u>, that such representative shall agree to hold in confidence and trust and to act in a fiduciary manner with respect to all information so provided; and <u>provided</u> <u>further</u>, that the Company reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof if access to such information or attendance at such meeting could adversely affect the attorney-client privilege between the Company and its counsel or result in disclosure of trade secrets or a conflict of interest, or if such Investor or its representative 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;3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination of Information and Observer Rights</u>. The covenants set forth in <u>Subsection 3.1</u>, <u>Subsection 3.2, and Subsection 3.3</u> shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when

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the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon the closing of a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, whichever event occurs first.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>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 Agreement (including notice of the Company's intention to file a registration statement), 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 <u>Subsection 3.5</u> by such Investor), (b) is or has been independently developed or conceived by such Investor without use of the Company's confidential information, or (c) is or has been made known or disclosed to such 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 necessary to obtain their services in connection with monitoring its investment in the Company; (ii) to any prospective purchaser of any Registrable Securities from such Investor, if such prospective purchaser agrees to be bound by the provisions of this <u>Subsection 3.5</u>; (iii) to any existing or prospective Affiliate, partner, member, stockholder, or wholly owned subsidiary of such Investor in the ordinary course of business, <u>provided</u> that such Investor informs such Person that such information is confidential and directs such Person to maintain the confidentiality of such information; or (iv) as may otherwise be required by law, regulation, rule, court order or subpoena, <u>provided</u> that such Investor promptly notifies the Company of such disclosure and takes reasonable steps to minimize the extent of any such required disclosure, except that such Investor does not need to notify the Company of disclosures required by stock exchange rules requiring periodic or routine public filings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights to Future Stock 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;4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Right of First Offer</u>. Subject to the terms and conditions of this <u>Subsection 4.1</u> and applicable securities laws, if the Company proposes to offer or sell any New Securities, the Company shall first offer such New Securities to each Major Investor. A Major Investor shall be entitled to apportion the right of first offer hereby granted to it in such proportions as it deems appropriate, among (i) itself and (ii) its Affiliates, <u>provided</u> that each such Affiliate agrees to enter into this Agreement and each of the Voting Agreement and Right of First Refusal and Co-Sale Agreement of even date herewith among the Company, the Investors and the other parties named therein, as an "**Investor**" under each such 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall give notice (the "**Offer Notice**") to each Major Investor, stating (i) its bona fide intention to offer such New Securities, (ii) the number of such

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New Securities to be offered, and (iii) the price and terms, if any, upon which it proposes to offer 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;By notification 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 that portion of such New Securities which equals the proportion that the Registrable Securities then held by such Major Investor bears to the total Common Stock then outstanding (assuming full conversion and/or exercise, as applicable, of all Preferred Stock and any other Derivative Securities then outstanding). At the expiration of such twenty (20) day period, the Company shall promptly notify each Major Investor that elects to purchase or acquire all the shares available to it (each, a "**Fully Exercising Investor**") of any other Major Investor's failure to do likewise. During the ten (10) day period commencing after the Company has given such notice, each Fully Exercising Investor may, by giving notice to the Company, elect to purchase or acquire, in addition to the number of shares specified above, up to that portion of the New Securities for which Major Investors were entitled to subscribe but that were not subscribed for by the Major Investors which is equal to the proportion that Registrable 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. The closing of any sale pursuant to this <u>Subsection 4.1(b)</u> shall occur within the later of one hundred and twenty (120) days of the date that the Offer Notice is given and the date of initial sale of New Securities pursuant to <u>Subsection 4.1(c)</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;(c)&nbsp;&nbsp;&nbsp;&nbsp;If all New Securities referred to in the Offer Notice are not elected to be purchased or acquired as provided in <u>Subsection 4.1(b)</u>, the Company may, during the ninety (90) day period following the expiration of the periods provided in <u>Subsection 4.1(b)</u>, 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 <u>Subsection 4.1</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;(d)&nbsp;&nbsp;&nbsp;&nbsp;The right of first offer in this <u>Subsection 4.1</u> shall not be applicable to (i) Exempted Securities (as defined in the Certificate of Incorporation); (ii) shares of Common Stock issued in the IPO; and (iii) the issuance of shares of Common Stock, Preferred Stock, or Common Stock issued upon conversion of such Preferred Stock, pursuant to the conversion of the Notes (as defined in the Purchase Agreement) sold pursuant to the 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;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination</u>. The covenants set forth in <u>Subsection 4.1</u> shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon the closing of a

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Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, whichever event occurs first.

&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;&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 cause Directors and Officers liability insurance policies to be maintained until such time as the Board of Directors determines that such insurance should be discontinued. The Company shall not cease to maintain a Directors and Officers liability insurance policy in an amount of at least $5 million unless approved by the Board of Directors, which approval must include the affirmative vote of the Preferred 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;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 substantially in the form approved by the Board of Directors. In addition, the Company shall not amend, modify, terminate, waive, or otherwise alter, in whole or in part, any of the above-referenced agreements or any restricted stock agreement between the Company and any employee, without the consent 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Employee Stock</u>. Unless otherwise approved by the Board of Directors, all future employees and consultants of the Company 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 or option agreements, as applicable, providing for (i) 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, and the remaining shares vesting in equal monthly installments over the following thirty-six (36) months, and (ii) a market stand-off provision substantially similar to that in <u>Subsection 2.11</u>. Without the prior approval by the Board of Directors, the Company shall not amend, modify, terminate, waive or otherwise alter, in whole or in part, any stock purchase, stock restriction or option agreement with any existing employee or service provider if such amendment would cause it to be inconsistent with this <u>Subsection 5.3</u>. In addition, unless otherwise approved by the Board of Directors, the Company shall retain (and not waive) a "right of first refusal" on employee transfers until the Company's IPO and shall have the right to repurchase unvested shares at cost upon termination of employment of a holder of restricted stock. Additionally, any grant of equity to Brad Bao, Wayne Ting, or Toby Sun in excess of 1% of the fully diluted capitalization of the Company (assuming conversion, exchange, and exercise of all convertible, exchangeable, and exercisable securities and including any shares available and reserved for issuance pursuant to an equity incentive plan), will require the consent of the Board of Directors, including the Senior Preferred Director.

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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;5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Matters Requiring Investor Director Approval</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;Prior to the conversion of all of the principal and interest on the Uber Note, so long as the holders of Series 3 Preferred Stock are entitled to elect the Senior Preferred Director, or the Series 2 Preferred Stock and Series 1 Preferred Stock are entitled to elect the Junior Preferred Director, the Company hereby covenants and agrees with each of the Investors that it shall not, without approval of the Board of Directors, which approval must include the affirmative vote of both then-serving Preferred Directors, if any, or the sole Preferred Director if one of the directorships is vacant, take any of the actions set forth in Article Fourth Section (B)3.3.1 through Section (B)3.3.9 of the Certificate of Incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;So long as the holders of Preferred Stock are entitled to elect the Preferred Directors, the Company hereby covenants and agrees with each of the Investors that it shall not, without approval of the Board of Directors, which approval must include the affirmative vote of the Preferred 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;change the principal business of the Company or exit the current line of business; 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;sell, assign or license material technology or intellectual property, other than licenses granted 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;So long as the holders of Preferred Stock are entitled to elect the Preferred Directors, the Company hereby covenants and agrees with each of the Investors that it shall not, without approval of the Board of Directors, which approval must include the affirmative vote of at least one of the Preferred 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;make, or permit any subsidiary to make, any loan or advance to, or own any stock or other securities of, any subsidiary or other corporation, partnership, or other entity unless it is wholly owned 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;make, or permit any subsidiary to make, any loan or advance to any Person, including, without limitation, any employee or director of the Company or any subsidiary, except advances and similar expenditures in the ordinary course of business or under the terms of an employee stock or option plan 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;guarantee, directly or indirectly, or permit any subsidiary to guarantee, directly or indirectly, any indebtedness except for trade accounts of the Company or any subsidiary arising in the ordinary course of business and guarantees provided in connection with the establishment and maintenance of Company 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;make any investment inconsistent with any investment policy 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;incur any aggregate indebtedness in excess of $15,000,000 that is not either a replacement of existing indebtedness of up to $30,000,000 or already included

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in a budget approved by the Board of Directors, other than trade credit incurred in the ordinary course of business and money liens or statutory liens of landlords, mechanics, materialmen, workmen, warehousemen and other similar persons arising or incurred in the ordinary course of business including, but not limited to, liens related to asset-backed lending to the purchase of micromobility devices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;otherwise enter into or be a party to any transaction with any director, officer, or employee of the Company or any "associate" (as defined in Rule 12b-2 promulgated under the Exchange Act) of any such Person, including without limitation any "management bonus" or similar plan providing payments to employees in connection with a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, except for transactions contemplated by this Agreement, the Purchase Agreement, or transactions made in the ordinary course of business and pursuant to reasonable requirements of the Company's business and upon fair and reasonable terms that are approved by a majority of the Board of Directors; 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;(vii)&nbsp;&nbsp;&nbsp;&nbsp;hire, terminate, or change the compensation of the chief executive officer, or approve any option grants or stock awards to executive officers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Board Matters</u>. Unless otherwise determined by the vote of a majority of the directors then in office, the Board of Directors shall meet at least quarterly in accordance with an agreed-upon schedule. The Company shall reimburse the nonemployee directors for all reasonable out-of-pocket travel expenses incurred (consistent with the Company's travel policy) in connection with attending meetings 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Successor Indemnification</u>. If the Company or any of its successors or assignees consolidates with or merges into any other Person and is not the continuing or surviving corporation or entity of such consolidation or merger, then to the extent necessary, proper provision shall be made so that the successors and assignees of the Company assume the obligations of the Company with respect to indemnification of members of the Board of Directors as in effect immediately before such transaction, whether such obligations are contained in the Company's Bylaws, the Certificate of Incorporation, or elsewhere, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Indemnification Matters</u>. The Company hereby acknowledges that one (1) or more of the directors nominated to serve on the Board of Directors by the Investors (each an "**Investor Director**") may have certain rights to indemnification, advancement of expenses and/or insurance provided by one or more of the Investors and certain of their affiliates (collectively, the "**Investor Indemnitors**"). The Company hereby agrees (a) that it is the indemnitor of first resort (i.e., its obligations to any such Investor Director are primary and any obligation of the Investor Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by such Investor Director are secondary), (b) that it shall be required to advance the full amount of expenses incurred by such Investor Director and shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement by or

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on behalf of any such Investor Director to the extent legally permitted and as required by the Certificate of Incorporation or Bylaws of the Company (or any agreement between the Company and such Investor Director), without regard to any rights such Investor Director may have against the Investor Indemnitors, and, (c) that it irrevocably waives, relinquishes and releases the Investor Indemnitors from any and all claims against the Investor Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the Investor Indemnitors on behalf of any such Investor Director with respect to any claim for which such Investor Director has sought indemnification from the Company shall affect the foregoing and the Investor Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of such Investor Director against the Company. The Investor Directors and the Investor Indemnitors are intended third party beneficiaries of this <u>Subsection 5.7</u> and shall have the right, power and authority to enforce the provisions of this <u>Subsection 5.7</u> as though they were a party to 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Call Right Agreement</u>. In the event that after the date of this Agreement, the Company offers, sells, or enters into an agreement with any Person to issue, shares of capital stock of the Company to any Person (other than any Person that is a party to that certain Call Right Agreement), then the Company shall cause such Person, as a condition precedent to offering, selling, or entering into such agreement to issue shares of capital stock, to become a party to that Call Right Agreement. The Company shall amend the Company's 2017 Stock Incentive Plan within sixty (60) days following the Closing (as defined in the Purchase Agreement) to require stockholders to become a party to the Call Right 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;5.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Right to Conduct Activities</u>. The Company hereby agrees and acknowledges that certain of the Investors are professional investment organizations (the "**Funds**"), and as such review the business plans and related proprietary information of many enterprises, some of which may compete directly or indirectly with the Company's business (as currently conducted or as currently propose to be conducted). The Company hereby agrees that, to the extent permitted under applicable law, the Funds (and their Affiliates) shall not be liable to the Company for any claim arising out of, or based upon, (i) the investment by the Funds (or their Affiliates) in any entity competitive with the Company, or (ii) actions taken by any partner, officer, employee or other representative of the Funds (or their Affiliates) to assist any such competitive company, whether or not such action was taken as a member of the board of directors of such competitive company or otherwise, and whether or not such action has a detrimental effect on the Company; provided, however, that the foregoing shall not relieve (x) any of the Investors from liability associated with the unauthorized disclosure of the Company's confidential information obtained pursuant to this Agreement, or (y) any director or officer of the Company from any liability associated with his or her fiduciary duties to 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;5.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Harassment Policy</u>. The Company shall, within sixty (60) days following the Closing (as defined in the Purchase Agreement), adopt and thereafter

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maintain in effect (i) a Code of Conduct governing appropriate workplace behavior and (ii) an Anti-Harassment and Discrimination Policy prohibiting discrimination and harassment at the Company. Such policy shall be reviewed and 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;5.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination of Covenants</u>. The covenants set forth in this Section 5, except for Subsection 5.6, shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, whichever event occurs first.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;<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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&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 (i) is an Affiliate of a Holder; (ii) 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; or (iii) after such transfer, holds at least 100,000 shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations, and other recapitalizations); <u>provided</u>, <u>however</u>, that (x) 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 (y) 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 <u>Subsection 2.11</u>. For the purposes of determining the number of shares of Registrable Securities held by a transferee, the holdings of a transferee (1) that is an Affiliate or stockholder of a Holder; (2) who is a Holder's Immediate Family Member; or (3) 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; <u>provided further</u> that all transferees who would not qualify individually for assignment of rights shall, as a condition to the applicable transfer, establish a single attorney-in-fact for the purpose of exercising any rights, receiving notices, or taking any action under this Agreement. 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. This Agreement shall be governed by the internal law 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall

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constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, *e.g.*, www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes**.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5&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;(a)&nbsp;&nbsp;&nbsp;&nbsp;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 (i) personal delivery to the party to be notified; (ii) when sent, if sent by electronic mail or facsimile during the recipient's normal business hours, and if not sent during normal business hours, then on the recipient's next business day; (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (iv) one (1) business day after the business day of deposit 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 <u>Schedule A</u> 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 email address, facsimile number, or address as subsequently modified by written notice given in accordance with this <u>Subsection 6.5</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;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Consent to Electronic Notice</u>. Each Investor 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 or the facsimile number as on the books of the Company. Each Investor 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments and Waivers</u>. Any term of this Agreement may be amended, modified or terminated and the observance of any term of this Agreement may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent of the Company and the holders of at least a majority of the Registrable Securities then outstanding; <u>provided</u> that (a) the Company may in its sole discretion waive compliance with <u>Subsection 2.12(c)</u> (and the Company's failure to object promptly in writing after notification of a proposed assignment allegedly in violation of <u>Subsection 2.12(c)</u> shall be deemed to be a waiver); (b) that any provision hereof may be waived by any waiving party on such party's own behalf, without the consent of any other party, (c) the consent of the holders of at least a majority of the Registrable Securities then outstanding will not be required to amend this Agreement to add a new series of junior or pari passu preferred stock as Investors, Holders, and holders of Registrable Securities and make any other changes necessary to give such new

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preferred holders pari passu rights and (d) Section 3.3 may not be amended, modified, or terminated without the consent of Mr. Bao until December 31, 2024. Notwithstanding the foregoing, (a) this Agreement may not be amended, modified or terminated and the observance of any term hereof may not be waived with respect to any Investor without the written consent of such Investor, unless such amendment, modification, termination, or waiver applies to all Investors in the same fashion (it being agreed that a waiver of the provisions of <u>Section 4</u> with respect to a particular transaction shall be deemed to apply to all Investors in the same fashion if such waiver does so by its terms, notwithstanding the fact that certain Investors may nonetheless, by agreement with the Company, purchase securities in such transaction), (b) <u>Subsections 3.1</u> and <u>3.2</u>, <u>Section 4</u> and any other section of this Agreement applicable to the Major Investors (including this clause (b) of this <u>Subsection 6.6</u>) may not be amended, modified, terminated or waived without the written consent of the holders of at least a majority of the Registrable Securities then outstanding and held by the Major Investors, and (c) <u>Subsections 5.4</u> and <u>5.8</u> and this clause (c) of this <u>Subsection 6.6</u> may not be amended, modified, terminated or waiver without the written consent of Uber. Notwithstanding the foregoing, <u>Schedule A</u> hereto may be amended by the Company from time to time to add transferees of any Registrable Securities in compliance with the terms of this Agreement without the consent of the other parties; and <u>Schedule A</u> hereto may also be amended by the Company after the date of this Agreement without the consent of the other parties to add information regarding any additional Investor who becomes a party to this Agreement in accordance with <u>Subsection 6.9</u>. The Company shall give prompt notice of any amendment, modification or termination hereof or waiver hereunder to any party hereto that did not consent in writing to such amendment, modification, termination, or waiver. Any amendment, modification, termination, or waiver effected in accordance with this <u>Subsection 6.6</u> shall be binding on all parties hereto, regardless of whether any such party has consented thereto. 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Investors</u>. Notwithstanding anything to the contrary contained herein, if the Company issues additional shares of Preferred Stock after the date hereof, any purchaser of such shares of Preferred Stock may become a party to this

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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 has agreed in writing to be bound by all of the obligations as an "Investor" 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;6.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>. This Agreement (including any Schedules and Exhibits hereto) constitutes the full and entire understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Dispute Resolution</u>. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of California and to the jurisdiction of the United States District Court for the District of Northern 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 state courts of California or the United States District Court for the District of Northern 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 it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court.

WAIVER OF JURY TRIAL: EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.12&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

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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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Statutory Information Rights</u>. Each Investor acknowledges that the Company has a legitimate interest in the significant benefits associated with the Company's protection and limited distribution of the Company's books, records, stockholder lists and other information the Company considers confidential while the Company remains a "private" company. Each Investor acknowledges and understands that, but for the waiver made herein, (a) each Investor would be entitled, upon written demand under oath stating the purpose thereof, to inspect for any proper purpose, and to make copies and extracts from, the Company's stock ledger, a list of its stockholders, and its other books and records, and the books and records of subsidiaries of the Company, if any, under the circumstances and in the manner provided in Section 220 of the DGCL ("**Section 220**") and (b) each Investor would be entitled, upon written demand, to inspect for a purpose reasonably related to such Investor's interests as a stockholder, and to make copies and extractions, the accounting books and records and minutes of proceedings of the stockholders and board, and under certain circumstances the list of stockholders and addresses, in all cases under the circumstances and in the manner provided in Chapter 16 of the Corporations Code of California ("**Chapter 16**") (any and all such rights, and any and all such similar other rights of an Investor as may be provided for in Section 220, Chapter 16, common law or otherwise, the "**Inspection Rights**"). In light of the foregoing, until the IPO, each Investor hereby unconditionally and irrevocably, to the fullest extent permitted by law, on behalf of Investor and all beneficial owners of the shares of Common Stock or Preferred Stock owned by each Investor (a "**Beneficial Owner**"), waives the Inspection Rights, whether such Inspection Rights would be exercised or pursued directly or indirectly pursuant to Section 220, Chapter 16 or otherwise (the "**Waiver**"), and on behalf of each Investor and any Beneficial Owner, to the fullest extent permitted by law, covenants and agrees never to directly or indirectly commence, voluntarily aid in any way, prosecute, assign, transfer, or cause to be commenced any claim, action, cause of action, or other proceeding to pursue or exercise the Inspection Rights. This Waiver shall hereafter apply indefinitely and bind all shares of capital stock of the Company sold, transferred, assigned or otherwise conveyed from each Investor, and each Investor agrees to execute any documents and perform any further acts the Company may reasonably request in order to carry-out the intent of the Waiver. The foregoing Waiver does not apply to the rights of a Major Investor pursuant to <u>Section 3.1</u> or <u>Section 3.2</u> hereof. In the event that the Inspection Rights, or any portion of such Inspection Rights, remain effective and enforceable by an Investor or any Beneficial Owner despite the Waiver and covenants provided for herein, each Investor acknowledges and agrees that, to the fullest extent permitted by law, any information delivered by the Company to each Investor pursuant to such Inspection Rights shall be subject to <u>Section 3.5</u> hereof.

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PURSUANT TO AN EXECUTED WAIVER OF INFORMATION RIGHTS, THE HOLDER AND ANY BENEFICIAL OWNERS OF THE SECURITIES REPRESENTED HEREBY HAS WAIVED ITS RIGHTS UNDER SECTION 220 OF THE GENERAL CORPORATION LAW OF DELAWARE. SUCH WAIVER SHALL BE A CONDITION TO RECEIPT BY ANY TRANSFEREE OF THESE SHARES.

[Remainder of Page Intentionally Left Blank]

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

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| | |
|:---|:---|
| COMPANY: | COMPANY: |
| **Neutron Holdings, Inc.** | **Neutron Holdings, Inc.** |
| By: | /s/ Wayne Ting |
| Name: Wayne Ting | Name: Wayne Ting |
| Title: Chief Executive Officer | Title: Chief Executive Officer |

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**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

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| | |
|:---|:---|
| **Uber Technologies, Inc.** | **Uber Technologies, Inc.** |
| By: | /s/ Jennifer Jarrett |
| Name: Jennifer Jarrett | Name: Jennifer Jarrett |
| Title: VP, Corporate Development and Capital Markets | Title: VP, Corporate Development and Capital Markets |

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**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

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| |
|:---|
| INVESTORS: |
| **GV 2019, L.P.** |
| By: GV 2019 GP, L.P., its General Partner |
| By: GV 2019 GP, L.L.C., its General Partner |
| By: /s/ Daphne Chang |
| Print Name: Daphne Chang |
| Title: Authorized Signatory  |

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**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

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| |
|:---|
| **ALPHABET HOLDINGS LLC**  |
| By: /s/ Kenneth H. Yi |
| Print Name: Kenneth H. Yi |
| Title: President |

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**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

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| |
|:---|
| **INSTITUTIONAL VENTURE PARTNERS XVI, L.P.** |
| By: Institutional Venture Management Holdings XVI, LLC, its General Partner |
| By: Institutional Venture Management XVI, LC its Manager |
| By: /s/ Somesh Dash |
| Print Name: Somesh Dash |
| Title: Managing Director |

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**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

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| |
|:---|
| **BAIN CAPITAL VENTURE FUND 2019, L.P.** |
| By: Bain Capital Venture Investors 2019, LLC, its general partner |
| By: Bain Capital Venture Investors, LLC, its manager |
| By: /s/ Sarah Smith  |
| Print Name: Sarah Smith |
| Title: Managing Director  |
| **BCV 2019-MD PRIMARY, L.P.** |
| By: Bain Capital Venture Investors 2019, LLC, its general Partner |
| By: Bain Capital Venture Investors, LLC, its manager |
| By: /s/ Sarah Smith |
| Print Name: Sarah Smith |

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**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

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| | |
|:---|:---|
| Title: Managing Director  | Title: Managing Director  |
| **BCIP VENTURE ASSOCIATES II, L.P.** | **BCIP VENTURE ASSOCIATES II, L.P.** |
| By: Boylston Coinvestors, LLC, its General Partner | By: Boylston Coinvestors, LLC, its General Partner |
| By: /s/ Sarah Smith | By: /s/ Sarah Smith |
| Print Name: Sarah Smith | Print Name: Sarah Smith |
| Title: Managing Director | Title: Managing Director |
| **BCIP VENTURE ASSOCIATES II-B, L.P.** | **BCIP VENTURE ASSOCIATES II-B, L.P.** |
| By: Boylston Coinvestors, LLC, its General Partner | By: Boylston Coinvestors, LLC, its General Partner |
| By: | /s/ Sarah Smith |
| Print Name: Sarah Smith | Print Name: Sarah Smith |
| Title: Managing Director | Title: Managing Director |

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**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

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| | |
|:---|:---|
| **FIFTH WALL VENTURES SPV IX, L.P.** | **FIFTH WALL VENTURES SPV IX, L.P.** |
| By: Fifth Wall Ventures GP, LLC <br>Its: General Partner | By: Fifth Wall Ventures GP, LLC <br>Its: General Partner |
| By: | /s/ Brendan Wallace  |
| Print Name: Brendan Wallace | Print Name: Brendan Wallace |
| Title: Managing Director | Title: Managing Director |
| **FIFTH WALL VENTURES SPV XII, L.P.**<br>By: Fifth Wall Ventures GP, LLC<br>Its: General Partner | **FIFTH WALL VENTURES SPV XII, L.P.**<br>By: Fifth Wall Ventures GP, LLC<br>Its: General Partner |
| By: | /s/ Brendan Wallace  |
| Print Name: Brendan Wallace | Print Name: Brendan Wallace |
| Title: Managing Director | Title: Managing Director |
| **FIFTH WALL VENTURES, L.P.**<br>By: Fifth Wall Ventures GP, LLC<br>Its: General Partner | **FIFTH WALL VENTURES, L.P.**<br>By: Fifth Wall Ventures GP, LLC<br>Its: General Partner |
| By: | /s/ Brendan Wallace  |
| Print Name: Brendan Wallace | Print Name: Brendan Wallace |
| Title: Managing Director | Title: Managing Director |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **UZ MICROMOBILITY PROJECT, SPV I, A** <br>**SERIES OF UZ MANAGEMENT CAPITAL, LLC**<br>By: UZ Micromobility Management, LLC | **UZ MICROMOBILITY PROJECT, SPV I, A** <br>**SERIES OF UZ MANAGEMENT CAPITAL, LLC**<br>By: UZ Micromobility Management, LLC |
| By: | /s/ Pablo Massana |
| Print Name: Pablo Massana | Print Name: Pablo Massana |
| Title: Manager | Title: Manager |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| By: | /s/ David Gannon |
| Print Name: David Gannon | Print Name: David Gannon |
| Title: Director, Theoden Director Services Limited for and on behalf of Winterfell Limited | Title: Director, Theoden Director Services Limited for and on behalf of Winterfell Limited |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **GREENOAKS CAPITAL OPPORTUNITIES FUND, L.P.** | **GREENOAKS CAPITAL OPPORTUNITIES FUND, L.P.** |
| By: Greenoaks Capital (MTGP), L.P., its general partner<br>By: Greenoaks Capital (TTGP), Ltd., its general partner | By: Greenoaks Capital (MTGP), L.P., its general partner<br>By: Greenoaks Capital (TTGP), Ltd., its general partner |
| By: | /s/ Benjamin Peretz |
| Print Name: Benjamin Peretz | Print Name: Benjamin Peretz |
| Title: Director  | Title: Director  |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **FRANKLIN BLACKHORSE, L.P.** | **FRANKLIN BLACKHORSE, L.P.** |
| By: Franklin Venture Partners, LLC Blackhorse Series, a Delaware series limited liability company<br>By: Franklin Advisers, Inc., a California corporation, its Managing Member | By: Franklin Venture Partners, LLC Blackhorse Series, a Delaware series limited liability company<br>By: Franklin Advisers, Inc., a California corporation, its Managing Member |
| By: | /s/ Michael McCarthy |
| Print Name: Michael McCarthy | Print Name: Michael McCarthy |
| Title: EVP | Title: EVP |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **137 Ventures IV, LP, a Delaware limited partnership** | **137 Ventures IV, LP, a Delaware limited partnership** |
| By: 137 Ventures IV, LLC, a Delaware limited liability company as general partner | By: 137 Ventures IV, LLC, a Delaware limited liability company as general partner |
| By: | /s/ Andrew P. Laszlo |
| Name: Andrew P. Laszlo  | Name: Andrew P. Laszlo  |
| Title: Managing Member<br>Address: [\*\*\*] | Title: Managing Member<br>Address: [\*\*\*] |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **IQ HOLDINGS LIMITED** | **IQ HOLDINGS LIMITED** |
| By: | /s/ Mara Alido-Spencer |
| Name: Mara Alido-Spencer | Name: Mara Alido-Spencer |
| Title: Authorised Signatory for Epstone Limited | Title: Authorised Signatory for Epstone Limited |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **SALIX INVESTMENTS, LLC** | **SALIX INVESTMENTS, LLC** |
| By: | /s/ Erron Smith |
| Name: Erron Smith | Name: Erron Smith |
| Title: Secretary | Title: Secretary |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **BAKER FAMILY TRUST** | **BAKER FAMILY TRUST** |
| By: | /s/ Edward Baker |
| Name: Edward Baker | Name: Edward Baker |
| Title: Trustee | Title: Trustee |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **SUTTER ROCK CAPITAL CORP.** | **SUTTER ROCK CAPITAL CORP.** |
| By: | /s/ Mark Klein |
| Name: Mark Klein | Name: Mark Klein |
| Title: Chief Executive Officer | Title: Chief Executive Officer |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **DING ZHOU LIVING TRUST** | **DING ZHOU LIVING TRUST** |
| By: | /s/ Ding Zhou |
| Name: Ding Zhou | Name: Ding Zhou |
| Title: Trustee | Title: Trustee |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **GREEN BAY VENTURES, LLC**<br>By: Green Bay Ventures Manager, LLC<br>Its: Managing Member<br>By: Green Bay Advisors Venture, LLC<br>Its: Managing Member | **GREEN BAY VENTURES, LLC**<br>By: Green Bay Ventures Manager, LLC<br>Its: Managing Member<br>By: Green Bay Advisors Venture, LLC<br>Its: Managing Member |
| By: | /s/ Anthony Schiller |
| Name: Anthony Schiller | Name: Anthony Schiller |
| Title: Managing Member | Title: Managing Member |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **WELIGHT CAPITAL L.P.** | **WELIGHT CAPITAL L.P.** |
| By: | /s/ WU XTAOGUANG |
| Name: WU XTAOGUANG | Name: WU XTAOGUANG |
| Title: Director | Title: Director |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **ASCOLTA VENTURES, LLC** | **ASCOLTA VENTURES, LLC** |
| By: | /s/ Daniel J. Bergeson |
| Name: Daniel J. Bergeson | Name: Daniel J. Bergeson |
| Title: Managing Partner | Title: Managing Partner |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| By: | /s/ Myles B. Shear |
| Name: CASUAL MGMT. LLC. - Myles B. Shear | Name: CASUAL MGMT. LLC. - Myles B. Shear |
| Title: MGRM | Title: MGRM |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **LVC AM LLC** |
| By: /s/ Michael J. Sharp |
| Name: Michael J. Sharp |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (LSVF)** | **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (LSVF)** |
| By: | /s/ Sabrina Liang |
| Name: Sabrina Liang | Name: Sabrina Liang |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (SBST)** | **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (SBST)** |
| By: | /s/ Sabrina Liang |
| Name: Sabrina Liang | Name: Sabrina Liang |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (DAPER I)** | **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (DAPER I)** |
| By: | /s/ Sabrina Liang |
| Name: Sabrina Liang | Name: Sabrina Liang |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **WEST INVESTMENTS V, LLC** | **WEST INVESTMENTS V, LLC** |
| By: | /s/ Robert P Hrtica |
| Name: Robert P Hrtica | Name: Robert P Hrtica |
| Title: Manager | Title: Manager |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **YOUWEB LLC** | **YOUWEB LLC** |
| By: | /s/ A. Peter Relan |
| Name: A. PETER RELAN | Name: A. PETER RELAN |
| Title: Managing Member | Title: Managing Member |
| By: | /s/ Yu Wang |
| Name: Yu Wang | Name: Yu Wang |
| Title:  | Title:  |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (LSVF)** | **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (LSVF)** |
| By: | /s/ Sabrina Liang |
| Name: Sabrina Liang | Name: Sabrina Liang |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH FUND** |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |
| **FIDELITY BLUE CHIP GROWTH COMMINGLED POOL** |
| By: Fidelity Management Trust Company, as Trustee |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |
| **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |
| **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |
| **FIDELITY BLUE CHIP GROWTH INSTITUTIONAL TRUST** |
| By its manager Fidelity Investments Canada ULC |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |
| **FIDELITY SECURITIES FUND: FIDELITY SERIES BLUE CHIP GROWTH FUND** |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |
| **FIAM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** |
| By: Fidelity Institutional Asset Management Trust Company as Trustee |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **FIDELITY PURITAN TRUST: FIDELITY PURITAN FUND** |
| By: /s/ Chris Maher |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher, Authorized Signatory |
| **FIDELITY FOUNDERS INVESTMENT TRUST** |
| By its manager Fidelity Investments Canada ULC |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |
| **VARIABLE INSURANCE PRODUCTS FUND III: GROWTH OPPORTUNITIES PORTFOLIO** |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |
| **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |
| **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR SERIES GROWTH OPPORTUNITIES FUND** |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMPANY FUND** |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **FIDELITY GROWTH COMPANY COMMINGLED POOL** |
| By: Fidelity Management Trust Company, as Trustee |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY K6 FUND** |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **FIDELITY FINANCIAL TRUST: FIDELITY INDEPENDENCE FUND** |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |
| **FIDELITY MAGELLAN FUND: FIDELITY MAGELLAN FUND** |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |
| **FIDELITY MAGELLAN COMMINGLED POOL** |
| By: /s/ Chris Maher |
| Chris Maher, Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| By: /s/ Samih Toukan |
| Name: Samih Toukan |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **THE ADAM SCHWARTZ REVOCABLE TRUST** |
| By: /s/ Adam Schwartz |
| Name: Adam Schwartz |
| Title: Trustee<br>Address: [\*\*\*] |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **ALPHA ANNEX CITRUS FUND LLC – SERIES II** |
| By: Alpha Ventures Partners LLC, its manager |
| By: /s/ Stephen B. Brotman |
| Name: Stephen B. Brotman |
| Title: Manager |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **ALRAI HOLDINGS LIMITED** |
| By: /s/ Vinay Menda |
| Name: Vinay Menda |
| Title: Authorized Signatory<br>Address: [\*\*\*] |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **AMERICAN INVESTMENT HOLDINGS LLC** |
| By: /s/ Jeffrey N. Vinik |
| Name: Jeffrey N. Vinik |
| Title: Chairman and Managing Member |
| Address: [\*\*\*] |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **AH PARALLEL FUND V, L.P.**<br>for itself and as nominee for <br>AH Parallel Fund V-A, L.P.,<br>AH Parallel Fund V-B, L.P., and <br>AH Parallel Fund V-Q, L.P.<br>By: AH Equity Partners V (Parallel), L.L.C. <br>Its general partner |
| By: /s/ Scott Kupor |
| Name: Scott Kupor |
| Title: Authorized Signatory |

---

---

| |
|:---|
| **ANDREESEN HOROWITZ FUND IV, L.P.**<br>for itself and as nominee for <br>Andreessen Horowitz Fund IV-A, L.P.,<br>Andreessen Horowitz Fund IV-B, L.P. and <br>Andreessen Horowitz Fund IV-Q, L.P.<br>By: AH Equity Partners V, L.L.C. <br>Its general partner |
| By: /s/ Scott Kupor |
| Name: Scott Kupor |
| Title: Authorized Signatory |

---

---

| |
|:---|
| **CONSW1, L.P.** |
| By: /s/ Scott Kupor |
| Name: Scott Kupor |
| Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **CLF PARTNERS, L.P.** |
| By: /s/ Scott Kupor |
| Name: Scott Kupor |
| Title: COO |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **THE SAM BARSHOP GRANDCHILDREN IRREVOCABLE TRUST** | **THE SAM BARSHOP GRANDCHILDREN IRREVOCABLE TRUST** |
| By: | /s/ Bruce Barshop |
| Name: Bruce Barshop | Name: Bruce Barshop |
| Title: Trustee<br>Address: [\*\*\*] | Title: Trustee<br>Address: [\*\*\*] |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **MOUNT HURON VENTURES, LLC** |
| By: /s/ Peter Smith |
| Name: Peter Smith |
| Title: COO <br>Address: [\*\*\*] |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **IOSTESSO HOLDINGS INC.** | **IOSTESSO HOLDINGS INC.** |
| By: | /s/ Charles Flicker |
| Name: Charles Flicker | Name: Charles Flicker |
| Title: Assistant-Secretary<br>Address: [\*\*\*] | Title: Assistant-Secretary<br>Address: [\*\*\*] |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **M. BRADLEY SMITH AND MICHELE L. TRUFELLI LIVING TRUST** |
| By: /s/ M Bradley Smith |
| Name: M Bradley Smith |
| Title: Manager<br>Address: [\*\*\*] |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **MATTHEW K. SMITH REVOCABLE TRUST** |
| By: /s/ Matthew Smith |
| Name: Matthew Smith  |
| Title: President<br>Address: [\*\*\*] |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **PENTLAND GROUP LIMITED** | **PENTLAND GROUP LIMITED** |
| By: | /s/ B A Mosheim  |
| Name: B A Mosheim  | Name: B A Mosheim  |
| Title: Director<br>Address: [\*\*\*] | Title: Director<br>Address: [\*\*\*] |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **MONTEZUMA FUND II LP** |
| By: /s/ Matt Wiles |
| Name: Matt Wiles |
| Title: Authorized Signatory |

---

---

| | |
|:---|:---|
| **MONTEZUMA FUND III LP**  | **MONTEZUMA FUND III LP**  |
| By: | /s/ Matt Wiles |
| Name: Matt Wiles | Name: Matt Wiles |
| Title: Authorized Signatory<br>Address: [\*\*\*] | Title: Authorized Signatory<br>Address: [\*\*\*] |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **LIGHTVC, LTD.** | **LIGHTVC, LTD.** |
| By: | /s/ Elaine Saverin |
| Name: Elaine Saverin | Name: Elaine Saverin |
| Title: Director | Title: Director |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **O'BRIEN FAMILY 2003 TRUST** | **O'BRIEN FAMILY 2003 TRUST** |
| By: | /s/ Eric O'Brien  |
| Name: Eric O'Brien | Name: Eric O'Brien |
| Title: Trustee<br>Address: [\*\*\*] | Title: Trustee<br>Address: [\*\*\*] |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **DAXN, Inc.**  | **DAXN, Inc.**  |
| By: | /s/ Daniel L. Dominguez |
| Name: Daniel L. Dominguez | Name: Daniel L. Dominguez |
| Title: President | Title: President |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **LI FUND I, A SERIES OF FJ LABS FUNDS, LP** | **LI FUND I, A SERIES OF FJ LABS FUNDS, LP** |
| By: | /s/ Fabrice Grinda |
| Name: Fabrice Grinda | Name: Fabrice Grinda |
| Title: Authorized Person of the General Partner | Title: Authorized Person of the General Partner |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **NEXT PLAY CAPITAL II, L.P.**<br>By: Next Play Capital GP II, LLC<br>Its: General Partner | **NEXT PLAY CAPITAL II, L.P.**<br>By: Next Play Capital GP II, LLC<br>Its: General Partner |
| By: | /s/ Eric Valle |
| Name: Eric Valle | Name: Eric Valle |
| Title: Operating Partner | Title: Operating Partner |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **NPC Lime, LLC**<br>By: Next Play Capital GP II, LLC<br>Its: General Partner | **NPC Lime, LLC**<br>By: Next Play Capital GP II, LLC<br>Its: General Partner |
| By: | /s/ Eric Valle |
| Name: Eric Valle | Name: Eric Valle |
| Title: Operating Partner | Title: Operating Partner |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **ACP Venture Capital Fund II LLC** | **ACP Venture Capital Fund II LLC** |
| By: | /s/ Anthony Simone |
| Name: Anthony Simone | Name: Anthony Simone |
| Title: Manager | Title: Manager |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **Akkadian Ventures IV, LP**<br>By: Akkadian Ventures GP IV, LLC<br>Its: General Partner | **Akkadian Ventures IV, LP**<br>By: Akkadian Ventures GP IV, LLC<br>Its: General Partner |
| By: | /s/ Mike Gridley |
| Name: Mike Gridley | Name: Mike Gridley |
| Title: Managing Director | Title: Managing Director |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **AME CLOUD VENTURES, LLC** | **AME CLOUD VENTURES, LLC** |
| By: | /s/ Gregory R. Hardester |
| Name: Gregory R. Hardester | Name: Gregory R. Hardester |
| Title: Manager | Title: Manager |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **The Back Family Trust** | **The Back Family Trust** |
| By: | /s/ Gregory F. Back |
| Name: Gregory F. Back | Name: Gregory F. Back |
| Title: Trustee | Title: Trustee |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **BAO TRUST DATED MAR-10 2020** | **BAO TRUST DATED MAR-10 2020** |
| By: | /s/ Zhoujia Bao |
| Name: Zhoujia Bao | Name: Zhoujia Bao |
| Title: Trustee | Title: Trustee |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **Basis Set Ventures I, L.P.**<br>By: Basis Set Ventures GP I, LLC<br>Its: General Partner | **Basis Set Ventures I, L.P.**<br>By: Basis Set Ventures GP I, LLC<br>Its: General Partner |
| By: | /s/ Xuezhao Lan |

---

 Name: Xuezhao Lan <br> Title: Managing Member

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **Bling Capital Fund I Opps L.P.** |
| By: /s/ Ben Ling |
| Name: Ben Ling |
| Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **Bling Capital Fund I Opps-A L.P.** |
| By: /s/ Ben Ling |
| Name: Ben Ling |
| Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **Bling Capital SPV A Neutron Holdings LP** | **Bling Capital SPV A Neutron Holdings LP** |
| By: | /s/ Ben Ling  |
| Name: Ben Ling | Name: Ben Ling |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **BMW I VENTURES SCS, SICAV RAIF,**<br>duly represented by BMW i Ventures, Inc., itself duly represented by Michael Hammer and Ulrich Quay |
| By: /s/ Michael Hammer |
| Name: Michael Hammer  |
| Title: CFO |

---

---

| |
|:---|
| By: /s/ Ulrich Quay |
| Name: Ulrich Quay |
| Title: President |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **THE BROOD, LLC — SUB FUND 1**<br>By: Hillspire, LLC, its Manager |
| By: /s/ Maria Seferian |
| Name: Maria Seferian |
| Title: General Counsel |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| By: /s/ Carolyn Bao |
| Name: Carolyn Bao |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **The Lu Daisy Li Living Trust** | **The Lu Daisy Li Living Trust** |
| By: | /s/ Lu Li |
| Name: Lu Li | Name: Lu Li |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **DCM Opportunity Fund II, L.P.**<br>By: DCM Opportunity Fund Investment Management II, L.P., its General Partner <br>By: DCM Opportunity Fund International II, Ltd., its General Partner | **DCM Opportunity Fund II, L.P.**<br>By: DCM Opportunity Fund Investment Management II, L.P., its General Partner <br>By: DCM Opportunity Fund International II, Ltd., its General Partner |
| By: | /s/ Matthew C. Bonner |
| Name: Matthew C. Bonner | Name: Matthew C. Bonner |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **DG Ventures, Inc.** | **DG Ventures, Inc.** |
| By: | /s/ Masahi Tanaka |
| Name: Masahi Tanaka | Name: Masahi Tanaka |
| Title: Executive Vice President and COO | Title: Executive Vice President and COO |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **Dream Space Limited** | **Dream Space Limited** |
| By: | /s/ Junzhang Liang |
| Name: Junzhang Liang | Name: Junzhang Liang |
| Title: Director | Title: Director |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **Global Opportunity I, LLC the General Partner of Global Opportunity I, L.P.** |
| By: /s/ Andrew Lebovitz |
| Name: Andrew Lebovitz |
| Title: Manager |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **GUO & WANG Holdings Limited** |
| By: /s/ Ruolin Wang |
| Name: Ruolin Wang |
| Title: Director |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **HMC-GSV LM, Fondo de Inversion Privado** | **HMC-GSV LM, Fondo de Inversion Privado** |
| By: | /s/ Ricardo Mogrovejo |
| Name: Ricardo Mogrovejo | Name: Ricardo Mogrovejo |

---

 Title: CEO

---

| | |
|:---|:---|
| By: | /s/ Alvaro Allende  |
| Name: Alvaro Allende | Name: Alvaro Allende |
| Title: Head of Front Office | Title: Head of Front Office |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **Hyperion Inc.** |
| By: /s/ Qi Ga |
| Name: Qi Gao |
| Title: Owner and Sole Director |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **Intellectus Ventures, LLC**<br>By: Intellectus Partners, LLC<br>Its: Managing Member | **Intellectus Ventures, LLC**<br>By: Intellectus Partners, LLC<br>Its: Managing Member |
| By: | /s/ David J. La Placa |
| Name: David J. La Placa | Name: David J. La Placa |
| Title: Managing Member | Title: Managing Member |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **J-Brothers-Fund-II, a series of AngelList Funds, LP**<br>By: Fund GP, LLC its General Partner<br>By: Belltower Fund Group, Ltd., its Manager |
| By: /s/ Meghan Christenson |
| Name: Meghan Christenson |
| Title: Authorized Person |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **JaVale McGee** |
| By: /s/ JaVale McGee |
| Name: JaVale McGee |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **JIE ZHAO** | **JIE ZHAO** |
| By: | /s/ Jie Zhao |
| Name: Jie Zhao  | Name: Jie Zhao  |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **KDDI Open Innovation Fund III L.P.**<br>By: Global Brain Corporation, its general partner |
| By: /s/ Yasuhiko Yurimoto  |
| Name: Yasuhiko Yurimoto |
| Title: President & CEO |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **Kevin Diestel** | **Kevin Diestel** |
| By: | /s/ Kevin Diestel |
| Name: Kevin Diestel | Name: Kevin Diestel |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **Liangchi Holding** | **Liangchi Holding** |
| By: | /s/ Cher Liang |
| Name: Cher Liang | Name: Cher Liang |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **Marbach Elevations LLC** |
| By: /s/ Daniel Graf |
| Name: Daniel Graf  |
| Title: Sole Proprietor |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **Math + Magic XII, LLC** | **Math + Magic XII, LLC** |
| By: | /s/ Jared Leto |
| Name: Jared Leto | Name: Jared Leto |
| Title: Member | Title: Member |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **MERITECH CAPITAL AFFILIATES V L.P.** | **MERITECH CAPITAL AFFILIATES V L.P.** |
| By: Meritech Capital Associates V L.L.C., its General Partner | By: Meritech Capital Associates V L.L.C., its General Partner |
| By: | /s/ Paul S. Madera  |
| Paul S. Madera, Managing Member | Paul S. Madera, Managing Member |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **MVP OPPORTUNITY FUND VI LLC**<br>By: MVP Manager LLC | **MVP OPPORTUNITY FUND VI LLC**<br>By: MVP Manager LLC |
| By: | /s/ Eric Brachfeld |
| Name: Eric Brachfeld | Name: Eric Brachfeld |
| Title: Manager | Title: Manager |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **Nokia Growth Partners IV, L.P.**<br>By: NGP GP IV, LLC<br>Its General Partner |
| By: /s/ Monica Johnson |
| Name: Monica Johnson |
| Title: Vice President |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **O'BRIEN FAMILY 2003 TRUST** | **O'BRIEN FAMILY 2003 TRUST** |
| By: | /s/ Eric O'Brien |
| Name: Eric O'Brien | Name: Eric O'Brien |
| Title: Trustee<br>Address: [\*\*\*] | Title: Trustee<br>Address: [\*\*\*] |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **SAV NEUTRON, LLC**<br>By: St. Augustine Capital Partners, Manager | **SAV NEUTRON, LLC**<br>By: St. Augustine Capital Partners, Manager |
| By: | /s/ Amanda Bush |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **Section 32 Fund 1, LP**<br>By: Section 32 GP 1, LLC, its general partner | **Section 32 Fund 1, LP**<br>By: Section 32 GP 1, LLC, its general partner |
| By: | /s/ Jennifer L. Kercher |
| Name: Jennifer L. Kercher | Name: Jennifer L. Kercher |
| Title: Chief Operating Officer | Title: Chief Operating Officer |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **SHARESPOST 100 FUND**<br>By: SP Investments Management, LLC<br>its Investment Advisor | **SHARESPOST 100 FUND**<br>By: SP Investments Management, LLC<br>its Investment Advisor |
| By: | /s/ Kevin Moss |
| Name: Kevin Moss | Name: Kevin Moss |
| Title: COO and Managing Director | Title: COO and Managing Director |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **Shen Wang Limited** |
| By: /s/ Dong Liyong |
| Name: Dong Liyong |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **The Board of Trustees of the Leland Stanford Junior University (SEVF II)** |
| By: /s/ Sabrina Liang |
| Name: Sabrina Liang |
| Title: Authorized Signatory  |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **Summer Beauty Limited** |
| By: /s/ Jackson Law |
| Name: Jackson Law |
| Title: Director |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **Tachyon Expedition LLC** |
| By: /s/ Yuye Zhang |
| Name: Yuye Zhang |
| Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **Tech Partners Holdings – Lime LP**<br>By: Tech Partners Holdings GP — Lime LLC | **Tech Partners Holdings – Lime LP**<br>By: Tech Partners Holdings GP — Lime LLC |
| By: | /s/ Michael Cullen |
| Name: Michael Cullen | Name: Michael Cullen |
| Title: Member | Title: Member |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **THIRTY FIVE VENTURES FUND I, LLC** | **THIRTY FIVE VENTURES FUND I, LLC** |
| By: | /s/ Rich Kleiman |
| Name: Rich Kleiman | Name: Rich Kleiman |
| Title: President | Title: President |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **4J FAMILY TRUST** | **4J FAMILY TRUST** |
| By: | /s/ Jai Das |
| Name: Jai Das | Name: Jai Das |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **A-LCJ-52-Fund, a series of AX-UbUb-Funds, LLC**<br>By: Fund GP, LLC its General Partner |
| By: /s/ Anne Seckinger  |
| Name: Anne Seckinger |
| Title: Authorized Person of the General Partner |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **CHRISTIANE MARIA DORRELL AND DEAN VINCENT DORRELL AS TRUSTEES FOR CM & DV DORRELL SUPER FUND** |
| By: /s/ Dean Dorrell & Christiane Dorrell |
| Name: Dean Dorrell & Christiane Dorrell |
| Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **ELLIS LEGACY LIVING TRUST** | **ELLIS LEGACY LIVING TRUST** |
| By: | /s/ James F. Ellis |
| Name: James F. Ellis | Name: James F. Ellis |

---

 Title: TrusteeAddress: [\*\*\*]

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **G&W HOLDING LIMITED** |
| By: /s/ Yu Wang |
| Name: Yu Wang |
| Title: Owner |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **Christopher Hulls 2017 Trust** |
| By: /s/ Christopher Hulls |
| Name: Christopher Hulls |
| Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **Prelude Fund, LP** <br>By: Prelude Ventures LLC, its General Partner  |
| By: /s/ Gabriel Kra |
| Name: Gabriel Kra |
| Title: Managing Director  |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **SAX LIME 015, a series of SAX Capital Series Fund, LP**<br>By: SAX Capital Series GP, LLC |
| By: /s/ Steven Greenberg |
| Name: Steven Greenberg |
| Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

---

| |
|:---|
| **Valhalla Fund Pty Ltd ATF The Valhalla Fund** |
| By: /s/ James Steele Synge |
| Name: James Steele Synge |
| Title: Authorized Signatory |

---

**SIGNATURE PAGE TO INVESTORS' RIGHTS AGREEMENT**

------

**SCHEDULE A**

**Investors**

[\*\*\*]

## Exhibit 4.3

**Exhibit 4.3**

**CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN REDACTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) INFORMATION THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. [\*\*\*] INDICATES THAT INFORMATION HAS BEEN REDACTED.**

THIS AGREEMENT IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THAT CERTAIN SUBORDINATION AND INTERCREDITOR AGREEMENT, DATED AS OF MAY 7, 2020 (AS AMENDED, RESTATED OR OTHERWISE MODIFIED FROM TIME TO TIME,), BY AND AMONG THE BANK OF MONTREAL AS THE SENIOR LENDER, THE LENDER AS THE SUBORDINATED LENDER AND NEUTRON HOLDINGS, INC.

**NOTE PURCHASE AGREEMENT**

THIS NOTE PURCHASE AGREEMENT (this "Agreement") is made as of May 7, 2020, by and among **Neutron Holdings, Inc.**, a Delaware corporation (the "Company"), and the lenders named on the Schedule of Lenders attached hereto (the "Schedule of Lenders"). Capitalized terms not otherwise defined in this Agreement shall have the meanings ascribed to them in Section 1 below.

**WHEREAS**, each Lender intends to provide certain Consideration to the Company as described for each Lender on the Schedule of Lenders;

**WHEREAS**, the parties wish to provide for the sale and issuance of such Notes in return for the provision by the Lenders of the Consideration to the Company; and

**WHEREAS**, the parties intend for the Company to issue in return for the Consideration one or more Notes convertible into shares of the Company's Equity Securities and secured by substantially all asset of the Company pursuant to the Security Documents.

**NOW**, **THEREFORE**, **THE PARTIES HEREBY AGREE 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Act</u>" means 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Affiliate</u>" means at any time, and with respect to any Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;any other Person that at such time directly or indirectly through one or more intermediaries Controls, or is Controlled by, or is under common Control with, such first Person, 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;any other Person that beneficially owns or holds, at such time, in the aggregate, directly or indirectly, 10% or more of any class of voting or equity interests of such first Person or any other Person of which such first Person beneficially owns or holds, at such time, in the aggregate, directly or indirectly, 10% or more of any class of voting or equity interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Unless the context otherwise clearly requires, any reference herein to an "<u>Affiliate</u>" is a reference to an Affiliate 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Agreement</u>" means this Note Purchase Agreement as it may be amended, supplemented, replaced or restated 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Applicable Law</u>" means (a) any statute, law (including common and civil law), rule, regulation or by-law, (b) any judgement, order, writ, injunction, decision, ruling, decree or award, (c) any regulatory policy, practice, guideline or directive, or (d) any right or other approval of any Governmental Authority, in each case, binding on or affecting a Person.

&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;"<u>Asset Disposition</u>" means, with respect to any Person, any transaction in which such Person sells, conveys, assigns, transfers, leases (as lessor) or otherwise disposes of any of its Assets, including any Capital Stock of any of its Subsidiaries or any of its other Assets, present or future, and for certainty, does not include any loss due to a casualty or condemnation 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Assets</u>" of a Person means all present and future property, rights and assets, real and personal, movable and immovable, tangible and intangible, of such Person of whatever nature and wheresoever situate.

&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>Banking Day</u>" means a day, other than a Saturday or a Sunday, on which banks are open for business in San Francisco, California and are not required by Applicable Law to remain closed.

&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;"<u>Board</u>" means the board of directors 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Common Stock</u>" means shares of the Company's common stock, par value $0.0001 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;(j)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Business</u>" means micromobility, including, without limitation, electronic scooter and bike rentals and related micromobility businesses.

&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;"Bylaws" means the Amended and Restated Bylaws 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;(l)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Capital Lease Obligations</u>" shall mean, as to any Person, the obligations of such Person to pay rent or other amounts under a lease of (or other agreement conveying the right to use) immovable (real) property or movable (personal) property, which obligations are required to be classified and accounted for as a capital lease on a balance sheet of such Person under GAAP and, for purposes of this Agreement, the amount of such obligations shall be the capitalized amount thereof, determined in accordance with GAAP. In the event of an accounting change effective after the date hereof requiring all leases to be capitalized, only those leases (whether or not in existence on the Closing Date) that would constitute Capitalized Lease Obligations in conformity with GAAP on the Closing Date shall be considered leases giving rise to Capital Lease Obligations, and all calculations and deliverables under this Agreement or any other Note Document shall be made or delivered, as applicable, in accordance 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;(m)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Capital Stock</u>" means any and all shares (including any preferred shares), interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants, rights or options to purchase any of the foregoing, whether voting or non-voting.

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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;(n)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Closing Date</u>" means the date 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;(o)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Code</u>" means the Internal Revenue Code of 1986, as 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;(p)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Collateral</u>" means all of the Assets of the Obligors intended to be subject to a Lien in favor of the Lenders in the manner set forth in Section 6.4; provided that in no event shall the Collateral include any Excluded Assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Consideration</u>" shall mean the amount of money paid by each Lender pursuant to this Agreement as shown on the Schedule of Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Control</u>" means the possession, directly or indirectly, 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Control Agreement</u>" means an agreement, in form and substance reasonably satisfactory to the Lenders, executed and delivered by an Obligor and the applicable securities intermediary or bank, which agreement is sufficient to give Lenders "control" over the subject Securities Account or Deposit Account or Investment Property, each as defined in and under the Uniform Commercial Code of the applicable 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;(t)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Conversion Price</u>" shall mean the quotient of (1) the Valuation Cap divided by (2) the fully-diluted capitalization of the Company as of 90 days following the date hereof (assuming conversion, exercise, and exchange of all convertible, exercisable, and exchangeable capital stock of the Company, including shares available for issuance under any equity incentive or similar plan and the shares to be issued upon conversion of the Notes).

&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)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Conversion Shares</u>" shall, for purposes of determining the type of Equity Securities issuable upon conversion of the Notes, mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Notes are converted to equity pursuant to Section 2.2(a) below, Series 3 Preferred Stock of the Company; 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;if the Notes are converted to equity pursuant to Section 2.2(b) below, shares of 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;(v)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Corporate Transaction</u>" shall mean any transaction defined as a "Deemed Liquidation Event" in the Company's current Ninth Amended and Restated Certificate of Incorporation on file with the Secretary of State 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;(w)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Debt</u>" means (in each case, whether such indebtedness is with full or limited recourse):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;any obligation of any Obligor for borrowed money;

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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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any obligation of any Obligor evidenced by a bond, debenture, note or other similar 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;any obligation of any Obligor to pay the deferred purchase price of property or services, including earn-outs, balances of sale and holdbacks relating to an acquisition, except a trade account payable that arises 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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the Capital Lease Obligations of any Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;any obligation of any Obligor to reimburse any other Person in respect of amounts drawn or drawable under any letter of credit or other guarantee, including any corporate guarantee, or under any bankers' or trade acceptance issued or accepted by such other Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;all mandatory obligations of any Obligor to purchase, redeem, retire, decrease or otherwise make any payment in respect of any Capital Stock of any Obligor or any other Person prior to the Maturity Date, valued, in the case of redeemable preferred stock, at the greater of its voluntary liquidation preference plus accrued and unpaid dividends, excluding however obligations that are subject to a subordination agreement in form and substance reasonably acceptable to the Lenders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;any obligation of any Obligor to purchase securities or other property that arises out of or in connection with the sale of the same or substantially similar securities or property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;any Debt of others secured by a Lien on any Asset of any Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;any Debt of others guaranteed by any Obligor; 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;(x)&nbsp;&nbsp;&nbsp;&nbsp;all net obligations and liabilities of any Obligor in respect of "Specified Transactions" (as such term is defined in the 2002 Multicurrency Cross Border Master Agreement published by the International Swaps and Derivatives Association, Inc.) determined on a mark to market basis.

&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;"<u>Default</u>" means any event or circumstance which constitutes an Event of Default or which, with the giving of notice or lapse of time or both would, unless cured or waived, constitute an Event of Default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Dollars</u>" and the symbol "$" each means the lawful money for the time being of the United States of America in same day immediately available funds or, if such funds are not available, the form of money of the United States of America which is customarily used in the settlement of international banking transactions on that day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Equity Securities</u>" shall mean the Company's Common Stock or Preferred Stock or any securities conferring the right to purchase the Company's Common Stock or Preferred Stock or securities convertible into, or exchangeable for (with or without additional consideration), the Company's Common Stock or Preferred Stock, except any security granted,

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issued and/or sold by the Company to any director, officer, employee or consultant of the Company in such capacity for the primary purpose of soliciting or retaining their services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa)&nbsp;&nbsp;&nbsp;&nbsp;"<u>ERISA</u>" means the Employee Retirement Income Security Act of 1974.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb)&nbsp;&nbsp;&nbsp;&nbsp;"<u>ERISA Affiliate</u>" means any trade or business (whether or not incorporated) under common control with the Company within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code or Section 302 of ERISA).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc)&nbsp;&nbsp;&nbsp;&nbsp;"<u>ERISA Event</u>" means (a) a Reportable Event with respect to a Pension Plan; (b) the failure by the Company or any ERISA Affiliate to meet all applicable requirements under the Pension Funding Rules or the filing of an application for the waiver of the minimum funding standards under the Pension Funding Rules; (c) the incurrence by the Company or any ERISA Affiliate of any liability pursuant to Section 4063 or 4064 of ERISA or a cessation of operations with respect to a Pension Plan within the meaning of Section 4062(e) of ERISA; (d) a complete or partial withdrawal by the Company or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization or insolvent (within the meaning of Title IV of ERISA); (e) the filing of a notice of intent to terminate a Pension Plan under, or the treatment of a Pension Plan amendment as a termination under, Section 4041 of ERISA; (f) the institution by the PBGC of proceedings to terminate a Pension Plan; (g) any event or condition that constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (h) the determination that any Pension Plan is in at-risk status (within the meaning of Section 430 of the Code or Section 303 of ERISA) or that a Multiemployer Plan is in endangered or critical status (within the meaning of Section 432 of the Code or Section 305 of ERISA); (i) the imposition or incurrence of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Company or any ERISA Affiliate; (j) the engagement by the Company or any ERISA Affiliate in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; (k) the imposition of a lien upon the Company pursuant to Section 430(k) of the Code or Section 303(k) of ERISA; or (l) the making of an amendment to a Pension Plan that could result in the posting of bond or security under Section 436(f)(1) 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;(dd)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Event of Default</u>" means any of the events specified in Section 8.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Excluded Assets</u>" means (A) any Exempt Accounts, (B) any contracts, licenses or agreements in which any Obligor has or hereafter acquires any right, title or interest, if and to the extent such Obligor's right, title or interest in such contract, license or agreement is subject to a contractual provision or other restriction on assignment (in each case, not entered into in contemplation of this Agreement) such that the creation of a security interest in the right, title or interest of such Obligor therein would be prohibited or would, in and of itself, cause or result in a default thereunder resulting in termination of such contract, license or agreement or enabling another Person party to such contract, license or agreement to enforce any remedy with respect thereto; provided that the foregoing exclusions shall not apply if (i) such contractual provision or other restriction on assignment has been waived or such other Person has otherwise

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consented to the creation hereunder of a security interest in such contract, license or agreement, or (ii) such contractual provision or other restriction on assignment would be rendered ineffective pursuant to the Uniform Commercial Code, as applicable and as then in effect in any relevant jurisdiction, or any other applicable law (including the Bankruptcy Code); provided further that immediately upon the ineffectiveness, lapse or termination of any such contractual provision or other restriction on assignment, the applicable Obligor shall be deemed to have automatically granted a security interest in, all its rights, title and interests in and to such contract, license or agreement as if such contractual provision or other restriction on assignment had never been in effect, (C) any intent-to-use United States trademark applications for which an amendment to allege use or statement of use has not been filed or examined and accepted by the United States Patent and Trademark Office; provided, that upon such filing and acceptance, the applicable Obligor shall be deemed to have automatically granted a security interest in such intent-to-use applications and such intent-to-use applications shall be included in Collateral, (D) assets as to which it is determined by the Required Lenders in their reasonable discretion but in consultation with the Company that the burden and cost of perfecting a security interest therein outweighs the benefit to the Lenders of the security to be afforded thereby, (E) motor vehicles and other assets subject to certificates of title, and (F) more than sixty-six percent (65%) of the presently existing and hereafter arising issued and outstanding shares of capital stock owned by Obligor of any Foreign Subsidiary which is not a Material Subsidiary which shares entitle the holder thereof to vote for directors or any other matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Exempt Accounts</u>" means, collectively, (1) payroll accounts, (2) employee benefit accounts, (3) trust accounts, (4) escrow accounts, (5) tax accounts (including, without limitation, sales tax accounts), (6) accounts maintained solely in trust for the benefit of third parties and fiduciary purposes, (7) zero balance or swept accounts, (8) cash collateral accounts and restricted accounts containing security deposits or (9) all Existing Accounts; provided, however, that under no circumstances shall the balance at any time in any such Exempt Account or the aggregate balance across all such Exempt Accounts exceed $10,000,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Existing Accounts</u>" means the following accounts: (1) that certain JPMorgan Chase account ending [\*\*\*], (2) that certain JPMorgan Chase account ending [\*\*\*], (3) that certain Citibank account number ending [\*\*\*], (4) that certain Citibank account number ending [\*\*\*] and any replacement or successor accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Fiscal Year</u>" means the fiscal year of the Company ending on December 31 of each 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Foreign Plan</u>" means any employee pension benefit plan, program, policy, arrangement or agreement maintained or contributed to by the Company or any Subsidiary with respect to employees employed outside the United States (other than any governmental arrangement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Foreign Subsidiary</u>" means any Subsidiary that is a "controlled foreign corporation" under Section 957 of the Code, such that, in the case of any such Subsidiary of the Obligations of a Lien on the Assets of such Subsidiary to secure the Obligations would result in material tax liability to the Company or its direct or indirect owners.

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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;(kk)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Fundamental Representations</u>" means, the representations and warranties made by the Company in Section 4.1, Section 4.2, Section 4.8, Section 4.9, Section 4.17, Section 4.18(a), and Section 4.24.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll)&nbsp;&nbsp;&nbsp;&nbsp;"<u>GAAP</u>" means generally accepted accounting principles, conventions, rules and procedures in the United States set forth in the opinions and pronouncements of the accounting principles board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board (or any successor organization) that are applicable to the circumstances as of the date of determination, consistently applied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Governmental Authority</u>" means any nation or government, any state, province or other political subdivision thereof, and any agency, branch of government, department exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, whether domestic or foreign.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Guarantee</u>" means a guarantee provided by the Guarantors to the Lenders pursuant to Section 6.4(b) 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;(oo)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Guarantors</u>" means all Material Subsidiaries of the Company and any Person who is required to become a Guarantor in accordance with Section 6.1(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(pp)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Initial Public Offering</u>" or "<u>IPO</u>" shall mean the closing of the issuance and sale of shares of Equity Securities of the Company in the Company's first underwritten public offering pursuant to an effective registration statement 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;(qq)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Insolvency Proceeding</u>" has the meaning specified in Section 8.1(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;(rr)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Intellectual Property</u>" shall mean any intellectual or intangible property (whether owned or licensed) including, without limitation, trademarks, trademark registrations and applications, service marks, service mark registrations and applications, trade names, trade name registrations and applications, corporate names and fictitious names, copyrights, copyright registrations and applications, works of authorship, patents, patent applications, industrial designs, industrial design registrations and applications, integrated circuit topographies, integrated circuit topographies applications and registrations, design rights, inventions, trade secrets, data, technical information, designs, plans, specifications, designs, formulas, processes, patterns, compilations, devices, techniques, mask works, mask work registrations and applications, methods, shop rights, know-how, show-how, and other business or technical confidential or proprietary information in each case whether or not such rights are patentable, copyrightable, or registerable; software and computer hardware programs and systems, source code, object code, databases, and documentation relating to the foregoing; all domain names, internet addresses, internet sites and social media including, without limitation, all related accounts, names and content; and other proprietary information owned, controlled, created, under development or used by or on behalf of any Person in whole or in part and whether or not registerable or registered, and any registrations or applications for the foregoing.

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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;(ss)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Intercreditor Agreement</u>" means the Subordination and Intercreditor Agreement, dated as of the date hereof, by and among the Lenders, the Senior Lender 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;(tt)&nbsp;&nbsp;&nbsp;&nbsp;"<u>IRS</u>" means the Internal Revenue Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(uu)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Investors' Rights Agreement</u>" means the Investors' Rights Agreement by and among the Company and certain other investors party thereto of even date herewith, as 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;(vv)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Junior Investors</u>" means the investors party to the Note and Warrant Purchase Agreement, dated as of the date hereof, by among the Company and such investors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ww)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Junior Investor Subordination Agreement</u>" means the Subordination Agreement dated as of the date hereof (as may be amended, restated, supplemented or otherwise modified from time to time), among the Lenders as the senior lenders, the Junior Investors as subordinated lenders 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;(xx)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Junior Note Purchase Agreement</u>" means the Note and Warrant Purchase Agreement dated as of the date hereof (as may be amended, restated, supplemented or otherwise modified from time to time), among the Company and the Junior Investors as lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(yy)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Junior Notes</u>" means the Convertible Secured Promissory Notes issued by the Company to the Junior Investors pursuant to the Junior Note 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;(zz)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Key Employees</u>" means any executive-level employee (including division director and vice president-level positions) as well as any employee or consultant who either alone or in concert with others develops, invents, programs or designs any Intellectual Property 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;(aaa)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Law</u>" means all applicable provisions of statutes, ordinances, decrees, orders in council, rules, regulations, treaties and all applicable determinations, rulings, orders and decrees of Governmental Authorities and arbitrators.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bbb)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Lenders</u>" means Uber Technologies, Inc. and each other lender that may become a party from time to time hereto pursuant to an assignment in accordance with Section 9.1 and their respective successors and assigns and "<u>Lender</u>" means any one of them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ccc)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Lien</u>" means a mortgage, prior claim, pledge, privilege, lien, charge or other encumbrance in the nature of a security interest in any Assets or a pledge or hypothecation thereof or any assignment by way of 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;(ddd)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Material Adverse Effect</u>" means a material adverse change in or effect on, either individually or in the aggregate, the business, Assets, liabilities, financial position or operating results of the Obligors, taken as a whole, or which adversely affects (i) the ability of any Obligor to perform any of its payment obligations under or pursuant to any of the Note Documents in accordance with their respective terms, (ii) the validity or enforceability of any of

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the Note Documents (iii) or the priority ranking of any Lien granted to the Lenders under the Security Documents (other than as a result by the failure of Lenders to make or maintain any required filing or maintain possession of possessory Collateral).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(eee)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Material Contracts</u>" means the contracts entered into by or assigned to any Obligor and any other contract to which any Obligor is a party that, if terminated and not replaced, would reasonably be expected to have a Material Adverse Effect, as amended, supplemented, replaced or restated 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;(fff)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Material Intellectual Property</u>" means all Intellectual Property and license or sublicense agreements or other agreements with respect to rights in Intellectual Property of the Company or any of its Subsidiaries, that are material to the condition (financial or otherwise), business or operations of the Company and its Subsidiaries on a consolidated basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ggg)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Material Subsidiary</u>" means any Foreign Subsidiary (a) that owns assets that represent more than 5% of the consolidated assets of the Company and its Subsidiaries or (b) has gross revenues that represent more than 5% of the consolidated gross revenues of the Company's consolidated gross revenues during any Fiscal 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;(hhh)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Maturity Date</u>" shall be as set forth in each Note (as defined 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Multiemployer Plan</u>" means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the Company or any ERISA Affiliate makes or is obligated to make contributions, during the preceding five plan years has made or been obligated to make contributions, or has any liability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jjj)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Multiple Employer Plan</u>" means a Plan with respect to which the Company or any ERISA Affiliate is a contributing sponsor, and that has two or more contributing sponsors at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kkk)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Note Documents</u>" means, collectively, this Agreement, the Notes, the Intercreditor Agreement, the Guarantees, each Security Document and all other consents, documents, instruments and agreements executed or delivered by the Obligors or any other Person in connection directly or indirectly with this Agreement or otherwise referred to or contemplated under or by this Agreement or any such documents, instruments or agreements, as the same may be amended, supplemented or restated 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;(lll)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Notes</u>" shall mean the one or more convertible secured promissory notes issued to each Lender pursuant to Section 2.1 below, the form of which is attached hereto as Exhibit A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mmm)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Obligations</u>" means all obligations, indebtedness and liabilities of the Obligors to the Lenders thereof under or in connection with (i) this Agreement, the Notes or any other Note Documents, including all obligations, indebtedness and liabilities under the Notes and

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(ii) any Post Petition Interest, whether or not such Post Petition Interest is allowed as a claim in such proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nnn)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Obligors</u>" means collectively the Company and the Guarantors, and "<u>Obligor</u>" means any one of them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ooo)&nbsp;&nbsp;&nbsp;&nbsp;"<u>OFAC</u>" means The Office of Foreign Assets Control of the U.S. Department of the Treasury.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ppp)&nbsp;&nbsp;&nbsp;&nbsp;"<u>PBGC</u>" means the Pension Benefit Guaranty Corporation or any entity succeeding to any or all of its functions under ERISA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(qqq)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Pension Act</u>" means the Pension Protection Act of 2006.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(rrr)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Pension Funding Rules</u>" means the rules of the Code and ERISA regarding minimum funding standards and minimum required contributions (including any installment payment thereof) to Pension Plans and Multiemployer Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act and, thereafter, Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(sss)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Pension Plan</u>" means any employee pension benefit plan (including a Multiple Employer Plan, but excluding a Multiemployer Plan) that is maintained or is contributed to by the Company or any ERISA Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 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;(ttt)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Permitted Dispositions</u>" means (i) the disposition of inventory in the ordinary course of business, (ii) the disposition of worn-out, surplus or obsolete equipment that is, in the reasonable judgment of the Obligors, no longer economically practicable to maintain or useful in the ordinary course of business, (iii) sales and issuance of the Capital Stock of the Company, (iv) the use of cash and cash equivalents in the ordinary course of business for the payment of ordinary course business expenses in a manner that is not prohibited by the terms of this Agreement or the other Note Documents, (iv) leases, subleases and licenses in the ordinary course of business, (v) Permitted Liens and investments and acquisitions, (vi) dispositions of equipment to the extent such property is exchanged for credit against the purchase price or similar replacement property, (vii) dissolution or winding down of Subsidiaries that are not Obligors so long as the assets of such Subsidiary are transferred to the Company or another Subsidiary; (viii) dispositions from and after the Closing Date of non-core assets or assets not necessary or useful in the business of the Company or any Subsidiary (including real property) acquired in connection with any acquisition or investment, (ix) retail sales of new scooters; (x) sales used or decommissioned scooters in the ordinary course of business; and (xi) dispositions of assets not otherwise permitted hereunder not to exceed $5,500,000 in the aggregate in any fiscal year.

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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;(uuu)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Permitted Liens</u>" means, as at any time, any one or more 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;any Lien for taxes, assessments or other governmental charges or levies not yet due or, if due, the validity of which is being contested diligently and in good faith by or on behalf of an Obligor by proper legal proceedings, provided the action to enforce the same has not proceeded to final non-appealable judgment and adequate provision has been made for the payment thereof in accordance with GAAP and in a manner acceptable to the Lenders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;any Lien of any judgment rendered or claim filed against an Obligor, which such Obligor or others on its behalf shall be contesting diligently and in good faith by proper legal proceedings, provided the action to enforce the same has not proceeded to final non-appealable judgment and adequate provision has been made for the payment thereof in accordance with GAAP and in a manner acceptable to the Lenders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;the pledges or deposits of cash or securities made pursuant to Laws relating to workmen's compensation, employment insurance, social security or similar Laws, or deposits of cash made in good faith in connection with offers, tenders, leases or contracts (excluding, however, the borrowing of money or the repayment of money borrowed) and deposits of cash or securities in order to secure, or in lieu of, appeal, surety or custom bonds or bonds required in respect of judicial 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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;undetermined or inchoate Liens arising or potentially arising under statutory provisions which have not at the time been filed or registered in accordance with Applicable Law or of which written notice has not been duly given in accordance with Applicable Law or which, although filed or registered, relate to obligations not due or delinquent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;the rights reserved to or vested in municipalities or governmental or other public authorities or agencies by statutory provisions or by the terms of leases, licenses, franchises, grants or permits which affect any land, to terminate any such leases, licenses, franchises, grants or permits or to require annual or other payments as a condition to the continuance 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;securities to public utilities or Governmental Authorities when required by the utility or Governmental Authority in connection with the supply of services or utilities to an Obligor in the operation of its business, and securities granted as part of any refundings or renewals thereof provided the security is restricted to the same collateral;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Liens securing Debt permitted under Section 6.2(a)(viii) and any Lien granted as part of any refunding or renewal of the outstanding amount secured by such Debt, provided such Lien is restricted to the same collateral and the obligations of any Obligor under such Debt are permitted 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;any conditional sales agreement or other title retention agreement (including any capital lease) with respect to Assets of an Obligor acquired after the date of this

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Agreement provided the obligations of any Obligor under such conditional sales agreement or other title retention agreement are permitted 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;&nbsp;&nbsp;the Liens granted to the Lenders under the Security Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Liens securing Debt permitted pursuant to Section 6.2(a)(vii);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)&nbsp;&nbsp;&nbsp;&nbsp;leases or subleases of real property and leases, subleases and licenses of personal property in each case in the ordinary course of business, if the leases, subleases, licenses and sublicenses do not prohibit granting the Lenders a security 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;(xii)&nbsp;&nbsp;&nbsp;&nbsp;Liens in favor of other financial institutions arising in connection with deposit and/or securities accounts held at such institutions, provided that, to the extent required under the Note Documents and subject to the Intercreditor Agreement, the Lenders has a perfected security interest in the amount held in such deposit and/or securities account;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default under Sections 8.1(i) (*Judgment*) or 8.1(l) (*Seizure; Attachment*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)&nbsp;&nbsp;&nbsp;&nbsp;Liens securing Subordinated Debt or the Senior Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv)&nbsp;&nbsp;&nbsp;&nbsp;pledges and deposits securing corporate credit cards and letters of credit not to exceed the aggregate maximum amount of $11,000,000 (without duplication of the threshold amount provided for in the definition of Exempt Accounts);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi)&nbsp;&nbsp;&nbsp;&nbsp;any interest or title of a lessor, sublessor, licensor or sublicensor under any lease or license not prohibited 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising from precautionary uniform commercial code financing statements filed under any lease permitted 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xviii)&nbsp;&nbsp;&nbsp;&nbsp;licenses, sublicenses, leases or subleases granted to third parties 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;(xix)&nbsp;&nbsp;&nbsp;&nbsp;easements, rights of way, restrictions, minor defects or irregularities in title and other similar Liens not interfering in any material respect with the ordinary conduct of the business of any Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx)&nbsp;&nbsp;&nbsp;&nbsp;Liens on any earnest money deposits of cash or cash equivalents made in good faith in connection with any letter of intent or purchase agreement with respect to an acquisition or other investment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxi)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising in the ordinary course of business (i) in favor of suppliers/carriers, warehousemen, landlords, mechanics and materialmen, and other similar Liens imposed by Law and (ii) in connection with surety bonds, bids, performance bonds and similar obligations;

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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;(xxii)&nbsp;&nbsp;&nbsp;&nbsp;Liens securing indebtedness represented by financed insurance premiums in the ordinary course of business and consistent with past practice, provided that such Liens do not extend to any property or assets other than the corresponding insurance policies being financed; 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;(xxiii)&nbsp;&nbsp;&nbsp;&nbsp;Other Liens not otherwise permitted hereunder securing Debt not to exceed $550,000 at any time outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vvv)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Person</u>" means any legal or natural person, corporation, company, firm, joint venture, partnership, whether general, limited or undeclared, trust, association, unincorporated organization, Governmental Authority or other entity of whatever 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;(www)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Plan</u>" means any employee benefit plan within the meaning of Section 3(3) of ERISA, maintained for employees of the Company or any Subsidiary, or any such plan to which the Company or any Subsidiary is required to contribute on behalf of any of its employees or with respect to which the Company or any Subsidiary has any liability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxx)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Post Petition Interest</u>" means any interest or expenses accruing or arising after the commencement of any Insolvency Proceeding with respect to any Obligor (whether or not such interest or expenses are allowed or allowable as a claim in whole or in part in such case).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(yyy)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Reportable Event</u>" means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30-day notice period has been waived.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(zzz)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Required Lenders</u>" means the one or more Lenders holding a majority of the aggregate principal amount of Notes issued 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;(aaaa)&nbsp;&nbsp;&nbsp;&nbsp; "<u>Restated Certificate</u>" means the Company's Amended and Restated Certificate of Incorporation, as amended and/or restated 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;(bbbb)&nbsp;&nbsp;&nbsp;&nbsp;"<u>ROFR Agreement</u>" means the Right of First Refusal and Co-Sale Agreement of even date herewith among the Company and certain other stockholders of the Company party thereto of even date herewith, as 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;(cccc)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Sanctioned Entities</u>" means (i) a country or a government of a country, (ii) an agency of the government of a country, (iii) an organization directly or indirectly controlled by a country or its government, (iv) a Person resident in or determined to be resident in a country, in each case, that is subject to a country sanctions program administered and enforced by OFAC or other relevant sanctions authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dddd)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Sanctioned Person</u>" means a Person named on the list of Specially Designated Nationals maintained by OFAC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(eeee)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Security Agreement</u>" means the General Security Agreement dated as of the date hereof between the Obligors and the Lenders, as 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;(ffff)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Security Documents</u>" means collectively all present and future documents, agreements and instruments pursuant to which an Obligor grants a Lien to or for the benefit of the Lenders, alone or together with any other Person, in any of its Assets securing all or any part of the Obligations, including the Security Agreement, any Control Agreements and intellectual property security agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gggg)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Senior Debt</u>" means the indebtedness and other obligations of the Company under the Senior Credit Agreement and the other Loan Documents (as defined in the Senior Credit Agreement) and any refinancing(s) thereof; *provided that* the aggregate principal amount of such refinancing Debt shall not exceed the outstanding aggregate principal amount of the Senior Debt as of the Closing 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;(hhhh)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Senior Lender</u>" means Bank of Montreal as the lender under the Senior Credit Agreement or, to the extent the Senior Debt is refinanced, the lender for such refinanced Senior Debt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iiii)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Senior Credit Agreement</u>" means the Credit Agreement, dated as of March 13, 2020 (as may be amended, restated, supplemented or otherwise modified from time to time) between the Company as borrower and the Senior Lender or, to the extent the Senior Debt is refinanced, any other credit agreement or similar agreement evidencing the refinanced Senior Debt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jjjj)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Stock Plan</u>" means the Company's equity incentive plan duly adopted by the Board and approved by the Company 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;(kkkk)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Solvent</u>" means as to any Person, such Person (a) owns Assets whose fair salable value (as defined below) is greater than the amount required to pay all of its debts as they become matured; (b) owns Assets whose present fair salable value (as defined below) is greater than the probable total liabilities (including contingent, subordinated, unmatured and unliquidated liabilities) of such Person as they become absolute and matured; (c) has capital that is not unreasonably small for its business and is sufficient to carry on its business and transactions and all business and transactions in which it is about to engage; (d) is not "<u>insolvent</u>" within the meaning of Section 101(32) of the Bankruptcy Code; and (e) has not incurred (by way of assumption or otherwise) any obligations or liabilities (contingent or otherwise) under any Note Documents, or made any conveyance in connection therewith, with actual intent to hinder, delay or defraud either present or future creditors of such Person or any of its Affiliates. "<u>Fair salable value</u>" means the amount that could be obtained for assets within a reasonable time, either through collection or through sale under ordinary selling conditions by a capable and diligent seller to an interested buyer who is willing (but under no compulsion) to purchase.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(llll)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Subordinated Debt</u>" means indebtedness incurred by the Company and/or the Obligors which is validly and effectively subordinated (and any Liens securing which is validly and effectively subordinated in priority to the Liens pursuant to the Security Documents) in right of payment to the payment in full of the Obligations (pursuant to a subordination, intercreditor, or other similar agreement in form and substance reasonably satisfactory to the

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Lenders entered into between the Lenders and the other creditor), on terms reasonably acceptable to the Lenders; *provided that* a subordination agreement with respect to such Subordinated Debt substantially in the form of the Junior Investor Subordination Agreement shall be deemed reasonably acceptable to the Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mmmm)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Subsidiaries</u>" means, with respect to any Person, any other Person of which an aggregate of more than 50% of the outstanding Capital Stock having ordinary voting power to elect a majority of the board of directors (or other applicable governing body) of such other Person is at the time, directly or indirectly, owned legally or beneficially by such Person or one or more Subsidiaries of such Person, or a combination thereof, or with respect to which any such Person has the right to vote or designate the vote of more than 50% of such Capital Stock whether by proxy, agreement, operation of Law or otherwise. Unless the context otherwise requires, each reference to a Subsidiary shall mean 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;(nnnn)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Tax</u>" means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable 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;(oooo)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Transaction Documents</u>" means this Agreement, the Investors' Rights Agreement, the Voting Agreement and the ROFR 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;(pppp)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Valuation Cap</u>" means the sum of (1) $340,000,000 plus (2) the aggregate Consideration under this Agreement plus (3) the aggregate amount paid by other lenders pursuant to the Junior Note 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;(qqqq)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Voting Agreement</u>" means the Voting Agreement by and among the Company and certain other stockholders of the Company of even date herewith, as 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;(rrrr)&nbsp;&nbsp;&nbsp;&nbsp;"<u>written</u>" or "<u>in writing</u>" shall include printing, typewriting, or any electronic means of communication capable of being visibly reproduced at the point of reception including telecopier and electronic data interchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amount and Terms of the Notes</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>Issuance of Notes</u>. In return for the Consideration paid by each Lender, the Company shall sell and issue to such Lender one or more secured Notes. Each Note shall have a principal balance equal to that portion of the Consideration paid by such Lender for the Note, as set forth in the Schedule of Lenders. Each Note shall be convertible into Conversion Shares pursuant to Section 2.2 below and shall be secured by the assets of the Company as described in such Notes and any related security 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;2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Right to Convert Notes</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>Optional Conversion</u>. The principal of any Note (the "<u>Conversion</u> <u>Balance</u>"), may be converted, at the option of the holder thereof, into Conversion Shares. The number of Conversion Shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the Conversion Balance on a Note to be converted on the date of conversion by the Conversion Price. Accrued interest on any Note (the "<u>Interest Balance</u>") may be converted into shares of Common Stock or paid in cash, at the option of the Company. If the Company elects to convert all or any portion of the Interest Balance into shares of Common Stock, the number of shares of Common Stock to be issued upon such conversion shall be equal to the quotient obtained by dividing the portion of the Interest Balance converted by the fair market value of a share of Common Stock on the date of conversion, as determined in good faith by the Board of Directors 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;<u>Corporate Transaction or IPO</u>. In the event of a Corporate Transaction or Initial Public Offering prior to full payment of a Note or prior to the time when a Note may be converted (as provided herein), all outstanding principal and unpaid accrued interest due on such Note shall, at the Lender's election, be (i) due and payable in full prior to the closing of the Corporate Transaction or Initial Public Offering or (ii) be converted into Conversion Shares at the 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>No Fractional Shares</u>. Upon the conversion of a Note into Conversion Shares, in lieu of any fractional shares to which the holder of the Note would otherwise be entitled, the Company shall pay such Note holder cash equal to such fraction multiplied by the Conversion Price applicable to such 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Mechanics of Conversion</u>. Before any Note holder shall be entitled to convert the same into Conversion Shares, such holder shall give written notice to the Company of the election to convert such Notes into Conversion Shares. The Company shall not be required to issue or deliver the Conversion Shares until the Note holder has surrendered the Note to the Company. Such conversion may be made contingent upon the closing of the Initial Public Offering or Corporate Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Closing Mechanics</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>Closing</u>. The closing (the "<u>Closing</u>") of the purchase of the Notes in return for the Consideration paid by each Lender shall take place remotely via the exchange of signatures on the date hereof, or at such other time and place as the Company and Lenders purchasing a majority in interest of the aggregate principal amount of the Notes to be sold at the Closing agree upon orally or in writing. At the Closing, each Lender shall deliver the Consideration to the Company subject to and conditional upon the prior fulfillment of the following conditions by the to the entire satisfaction of (unless otherwise waived in writing by) the Lenders:

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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;(a)&nbsp;&nbsp;&nbsp;&nbsp;On or prior to the Closing Date, the Lenders shall have received from the Company and, where applicable, the other Obligors, the following, each dated as of a date satisfactory to the Lenders and in form and substance entirely satisfactory to the Lenders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;this Agreement duly executed by the Lenders 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Company shall deliver to each Lender one or more executed Notes in return for the respective Consideration provided to 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the Intercreditor Agreement duly executed by the Lenders, the Senior Lender 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;a subordination agreement duly executed by each Junior Investor, the Lenders 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;subject to Section 6.1(e), each Security Document and each other Note Document, duly authorized, executed and delivered by the parties thereto; 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;(vi)&nbsp;&nbsp;&nbsp;&nbsp;an amendment to the Senior Credit 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;financing statements in form suitable for filing against all the Assets of the Company and other Obligors and in all places and in all jurisdictions which the Lenders shall require; 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Lender shall have received the results of Lien searches of all filings, registrations or recordings of or with respect to all the Assets of the Obligors in each jurisdiction in which their respective Assets are located, together with such other documents that the Lenders shall require evidencing, to the satisfaction of the Lenders, that all such Assets are free and clear of all Liens, other than Permitted Liens, and that the Liens under the Security Documents constitute valid and enforceable first ranking Liens in each such jurisdiction against the Collateral securing the Obligations, subject only to 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;3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Matters</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;The parties hereto intend that the Notes shall be treated as debt for U.S. federal and applicable state, local and foreign income tax purposes and will report consistently with such intended treatment for all applicable tax purposes, except as otherwise required 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender shall provide the Company with a properly completed IRS Form W-9 on or prior to the Closing Date and shall update or replace such IRS Form W-9 as and to the extent required by Law or upon reasonable request by the Company. Each Lender acknowledges that any interest payable hereunder may be subject to withholding taxes if such Lender fails to comply with its obligations under this <u>Section 3.2(b)</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;3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Exchange</u>. In the event an existing holder of shares of Common Stock of the Company issued upon conversion of shares of preferred stock of the Company (a "Existing

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Preferred Holder") purchases a Note, such Existing Preferred Holder may enter into an agreement with the Company exchanging certain shares of the Existing Preferred Holder's Common Stock of the Company for shares of Series 1 Stock of the Company (as defined in the Ninth Amended and Restated Certificate of Incorporation on file with the Secretary of State of the State of Delaware), on the terms set forth in the form of exchange agreement attached hereto as Exhibit B.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties of the Company</u>. In connection with the transactions provided for herein, the Company hereby represents and warrants to the Lenders 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;<u>Organization, Good Standing and Qualification</u>. Each Obligor is a corporation or other legal Person duly organized, validly existing, and in good standing under the laws of the jurisdiction in which it was incorporated or organized and has all requisite corporate power and authority to carry on its business as now conducted. Each Obligor is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a Material Adverse Effect on its business or properties.

&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>Authorization</u>. Except for the authorization and issuance of the shares issuable in connection with any Corporate Transaction or Initial Public Offering with respect to the Company, all corporate action has been taken on the part of each Obligor, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Agreement, the Notes and the other Note Documents. Except as may be limited by applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors' rights, each Obligor has taken all corporate action required to make all of the obligations of the such Obligor reflected in the provisions of this Agreement, the Notes and the other Note Documents, the valid and enforceable obligations they purport to be. Except as otherwise indicated in this Section 4.2, the issuance of the Notes, or their subsequent conversion into Conversion Shares, will not be subject to the preemptive rights of any stockholder of the Company. The Company has authorized sufficient shares of Series 3 Preferred Stock, Series 2 Preferred Stock, and Common Stock to allow for conversion of the Notes as described in 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;4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Other Instruments</u>. Neither the authorization, execution and delivery of this Agreement, nor the issuance and delivery of the Notes will constitute or result in a material default or violation of any law or regulation applicable to any Obligor or any material term or provision of such Obligor's current Certificate of Incorporation or bylaws or any material agreement or instrument by which it is bound or to which its properties or assets are subject.

&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>Valid Issuance of Common Stock and Preferred Stock</u>. The Conversion Shares to be issued, sold and delivered upon conversion of the Notes will be duly and validly issued, fully paid and nonassessable and, based in part upon the representations and warranties of the Lenders in this Agreement, will be issued in compliance with all applicable federal and state securities laws.

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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;4.5&nbsp;&nbsp;&nbsp;&nbsp;<u>No Litigation and Other Proceedings</u>. Except for the litigation disclosed in Schedule 4.5, there is no litigation, action or other legal proceeding pending or known to be threatened in writing against any of the Obligors the adverse determination of which would have a Material Adverse Effect.

&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>Financial Statements of the Obligors</u>. Any financial statements of the Company (including, without limitation, the financial statements for the Fiscal Year ending December 31, 2019) delivered to the Lenders fairly present the consolidated financial condition and business operations of the Company, as at the date thereof and for the periods covered thereby.

&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 Judgments</u>. To the knowledge of each Obligor, there are no outstanding material judgments, writs of execution, work orders, notices of deficiency capable of resulting in material work orders, injunctions or directives, in each case, in writing, against such Obligor or any of its Assets.

&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>Title to Assets; No Liens</u>. Each Obligor is the owner of, and has good and marketable title to, all its Collateral, and the same are free and clear of all Liens, except for 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;4.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Intellectual Property</u>. Schedule 4.9 sets forth a complete list and a description at the date hereof of all material and registered Intellectual Property owned by the Obligors used in the Business of the Obligors. The Obligors own the Intellectual Property free and clear of any Liens (other than Permitted Liens). Each of the Obligors owns or licenses all Intellectual Property required to be able to carry-on its business and all such licenses are in full force and effect, except where the failure to own or license such Intellectual Property or to maintain such licenses in full force and effect could not reasonably be expected to result in a Material Adverse Effect.

&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>Employee Agreements</u>. Each current and former Key Employee of the Company has executed an agreement with the Company regarding confidentiality and proprietary information substantially in the form or forms delivered to the counsel for the Lenders (the "<u>Confidential Information Agreements</u>"). No current or former Key Employee has excluded works or inventions from his or her assignment of inventions pursuant to such Key Employee's Confidential Information Agreement. The Company is not aware that any of its Key Employees is in violation of any agreement covered by this Section 4.10.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Agreements; Actions</u>. Except for the Transaction Documents and the Senior Credit Agreement, there are no agreements, understandings, instruments, contracts or proposed transactions to which the Company is a party or by which it is bound that involve (i) obligations (contingent or otherwise) of, or payments to, the Company in excess of $10,000,000 or (ii) except for those set forth in Schedule 4.11, the license of any patent, copyright, trademark, trade secret or other proprietary right to or from the Company. The Company has not declared or paid any dividends, or authorized or made any distribution upon or with respect to any class or series of its Capital 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;4.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Transactions</u>. Since January 25, 2019, other than (i) standard employee benefits generally made available to all employees, (ii) standard director and officer indemnification agreements approved by the Board, and (iii) the purchase of shares of the Company's Capital Stock and the issuance of options to purchase shares of the Company's Common Stock, in each instance, approved in the written minutes of the Board (previously provided to the Lenders or their counsel), there are no agreements, understandings or proposed transactions between the Company and any of its officers, directors, consultants or Key Employees, or any Affiliate 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;4.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Laws and Other Agreement</u>. No Obligor is in violation of any Applicable Law or any Material Contract that could reasonably be expected to result in a Material Adverse Effect. No Obligor or any of its directors or officers has made or received any improper payments to, or by, any governmental official or employee, any political party, official of a political party, official of any public organization or anyone else acting in an official capacity, in order to give, obtain, retain or direct business or obtain any improper advantage. Each Obligor has taken reasonable measures appropriate to the circumstances (in any event as required by Applicable Law) to ensure that each Obligor and its Affiliates is and will continue to be in compliance with all applicable anti-corruption and money-laundering laws and regulations applicable to it.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Corporate Documents</u>. The Restated Certificate and Bylaws of the Company are in the form provided to the Lenders. The copy of the minute books of the Company provided to the Lenders contains minutes of all meetings of directors and stockholders and all actions by written consent without a meeting by the directors and stockholders since the date of incorporation and accurately reflects in all material respects all actions by the directors (and any committee of directors) and stockholders with respect to all transactions referred to in such minutes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights of Registration and Voting Rights</u>. Except as provided in the Investors' Rights Agreement, the Company is not under any obligation to register under the Act, as amended, any of its currently outstanding securities or any securities issuable upon exercise or conversion of its currently outstanding securities. To the Company's knowledge, except as contemplated in the Voting Agreement, no stockholder of the Company has entered into any agreements with respect to the voting of capital shares 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;4.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>. Each Obligor and its Subsidiaries have filed, or are currently in the process of filing, all tax returns which are required to be filed by such Obligor or Subsidiary and have paid, or are currently in the process of settling, all material Tax, interest and penalties, if any, which have become due pursuant to such returns or pursuant to any assessment received by it and adequate provision for payment has been made for Tax not yet due except for (i) any such payment of which the concerned party is contesting in good faith by appropriate proceedings and for which appropriate reserves have been provided on the books of the relevant Obligor or Subsidiary, (ii) any such payment of which the concerned party is pursuing payment terms with any Government Authority or (iii) with respect to Tax payments in the aggregate not to exceed $110,000 at any one time, and as to which, in each case, neither any Lien has attached other than

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Permitted Liens nor any foreclosure, distraint, seizure, attachment, sale or other similar proceedings have been commenced. The charges, accruals and reserves on the books of each Obligor and Subsidiary in respect of Tax are adequate*.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Security Documents, Liens</u>. Each of the Security Documents creates a valid and enforceable perfected Lien in all the Collateral of each Obligor party thereto, subject only to 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;4.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Obligors' Jurisdiction and Capital 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Listed on Schedule 4.18 is the following information with respect to each Obligor (i) its current jurisdiction of incorporation or constitution and its full current name, (ii) the number and owner of all issued and outstanding Capital Stock owned by such Obligor and the nature and percentage of such ownership interest, (iii) the jurisdiction where its minute books are kept and where its domicile and chief executive office is located; (iv) a description of any outstanding warrants, subscriptions, securities, instruments or other rights of any type or nature which are convertible into, exchangeable for or otherwise provide for or permit the issuance of Capital Stock of each Obligor; (v) the location of all of its places of business including leased premises and (vi) the location of all its Assets valued in excess of $250,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Company has reserved 3,787,078,656 shares of Common Stock for issuance pursuant to the Stock Plan. Of such reserved shares of Common Stock, no shares have been issued pursuant to restricted stock purchase agreements, options to purchase 748,869,583 shares have been granted and are currently outstanding, and 3,038,209,073 shares of Common Stock remain available for issuance to officers, directors, employees and consultants pursuant to the Stock 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;The full capitalization of the Company as of May 5, 2020 has been disclosed in diligence materials made available to the Lender and is accurate and complete in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;All outstanding shares of the Common Stock and all shares of the Common Stock underlying outstanding options are subject to (i) a right of first refusal in favor of the Company upon any proposed transfer (other than transfers for estate planning purposes); and (ii) a lock-up or market standoff agreement of not less than one hundred eighty (180) days following the Company's initial public offering pursuant to a registration statement filed with the Securities and Exchange Commission 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Except as disclosed in diligence materials made available to the Lender, none of the Company's stock purchase agreements or stock option documents contains a provision for acceleration of vesting (or lapse of a repurchase right) or other changes in the vesting provisions or other terms of such agreement or understanding upon the occurrence of any event or combination of events, including without limitation in the case where the Company's Stock Plan is not assumed in an acquisition. The Company has never adjusted or amended the exercise price of any stock options previously awarded, whether through amendment,

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cancellation, replacement grant, repricing, or any other means. Except as set forth in the Restated Certificate, the Company has no obligation (contingent or otherwise) to purchase or redeem any of its Capital 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>409A</u>. The Company believes in good faith that any "nonqualified deferred compensation plan" (as such term is defined under Section 409A(d)(1) of the Code and the guidance thereunder) under which the Company makes, is obligated to make or promises to make, payments (each, a "<u>409A Plan</u>") complies in all material respects, in both form and operation, with the requirements of Section 409A of the Code and the guidance thereunder. To the knowledge of the Company, no payment to be made under any 409A Plan is, or will be, subject to the penalties of Section 409A(a)(1) 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;(g)&nbsp;&nbsp;&nbsp;&nbsp;The Company has obtained valid waivers of any rights by other parties to purchase any of the Notes covered 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;4.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Labor Matters</u>. There is no obligation of any Obligor under any collective agreements or under any consulting or management agreement requiring payments which cannot be cancelled without material liability. There are no complaints or charges against any Obligor pending or threatened in writing to be filed with any Governmental Authority or arbitrator based on, arising out of, in connection with, or otherwise relating to the employment or termination of employment of any individual by any Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Debt</u>. No Obligor has any Debt, other than as expressly permitted under Section 6.2(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.21&nbsp;&nbsp;&nbsp;&nbsp;<u>Corporate Chart</u>. There has been no material change to the structure of the Company and its respective Subsidiaries as set forth in Schedule 10.1(u) of the Senior Credit Agreement such that would be detrimental to the Collateral and priority ranking of any Lien granted to the Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Leased Real Property</u>. Schedule 10.1(w) of the Senior Credit Agreement contains a full and accurate description of all property and real estate leased by any Obligor, including a legal description of all such property in which it has a real right and the name and address of the landlord of any leased premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.23&nbsp;&nbsp;&nbsp;&nbsp;<u>Solvency</u>. As of the Closing Date, on a consolidated basis, the Obligors are Solvent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.24&nbsp;&nbsp;&nbsp;&nbsp;<u>Investment Company</u>. No Obligor is an "investment company" nor a company "controlled" by an "investment company" within the meaning of the Investment Company Act of 1940, 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;4.25&nbsp;&nbsp;&nbsp;&nbsp;<u>ERISA and Pension Plans</u>. (A) Except as could not reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect, (i) each Plan is in compliance with the applicable provisions of ERISA, the Code and other federal or state Laws and (ii) each Plan that is intended to be a qualified plan under Section 401(a) of the Code

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has received a favorable determination letter from the IRS to the effect that the form of such Plan is qualified under Section 401(a) of the Code and the trust related thereto has been determined by the IRS to be exempt from federal income tax under Section 501(a) of the Code, or an application for such a letter is currently being processed by the IRS, and, to the knowledge of the Company, nothing has occurred that would prevent or cause the loss of such tax-qualified status. (B) There are no pending or, to the knowledge of the Company, threatened or contemplated claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan that, either individually or in the aggregate, has had or could reasonably be expected to have a Material Adverse Effect. (C) No ERISA Event has occurred, and neither the Company nor any ERISA Affiliate is aware of any fact, event or circumstance that, either individually or in the aggregate, could reasonably be expected to constitute or result in an ERISA Event with respect to any Pension Plan that, either individually or in the aggregate, has had or could reasonably be expected to have a Material Adverse Effect. (D) The present value of all accrued benefits under each Pension Plan (based on those assumptions used to fund such Pension Plan) did not, as of the last annual valuation date prior to the date on which this representation is made or deemed made, exceed the value of the assets of such Pension Plan allocable to such accrued benefits by a material amount. As of the most recent valuation date for each Multiemployer Plan, the potential liability of the Company or any ERISA Affiliate for a complete withdrawal from such Multiemployer Plan (within the meaning of Section 4203 or Section 4205 of ERISA), when aggregated with such potential liability for a complete withdrawal from all Multiemployer Plans, is zero. (E) To the extent applicable, each Foreign Plan has been maintained in compliance with its terms and with the requirements of any and all applicable requirements of Applicable Law and has been maintained, where required, in good standing with applicable regulatory authorities, except to the extent that the failure so to comply could not reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect. Neither the Company nor any Subsidiary has incurred any material obligation in connection with the termination of or withdrawal from any Foreign Plan. The present value of the accrued benefit liabilities (whether or not vested) under each Foreign Plan that is funded, determined as of the end of the most recently ended fiscal year of the Company or Subsidiary, as applicable, on the basis of actuarial assumptions, each of which is reasonable, did not exceed the current value of the property of such Foreign Plan by a material amount, and for each Foreign Plan that is not funded, the obligations of such Foreign Plan are properly accrued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.26&nbsp;&nbsp;&nbsp;&nbsp;<u>OFAC</u>. No Obligor is in violation of any of the country or list based economic and trade sanctions administered and enforced by OFAC. No Obligor (i) is a Sanctioned Person or a Sanctioned Entity, (ii) has any of its Assets located in Sanctioned Entities, or (iii) derives any revenues from investments in, or transactions with Sanctioned Persons or Sanctioned Entities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.27&nbsp;&nbsp;&nbsp;&nbsp;<u>FCPA</u>. No Obligor, nor to the knowledge of the Company, no director, officer or employee of any Obligor or any Subsidiary, has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act of 1977, as

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amended, and the rules and regulations thereunder or any other applicable anti-corruption law in any material respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.28&nbsp;&nbsp;&nbsp;&nbsp;<u>Anti-Terrorism</u>. No Obligor or any of its Subsidiaries, or to the knowledge of the Company, any director, officer, or employee of any Obligor or any of their Subsidiaries (i) is an "enemy" or an "ally of the enemy" within the meaning of Section 2 of the Trading with the Enemy Act of the United States (50 U.S.C. App. §§ 1 et seq.), or (ii) is in violation of (A) the Trading with the Enemy Act, (B) any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V) or any enabling legislation or executive order relating thereto or (C) the PATRIOT Act (collectively, the "**Anti-Terrorism 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;4.29&nbsp;&nbsp;&nbsp;&nbsp;<u>Foreign Subsidiaries</u>. As of the Closing Date, none of the Foreign Subsidiaries are Material Subsidiaries, other than Lime Electric Ireland Limited and Lime S.à.r.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;4.30&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclosure</u>. The Company has made available to the Lenders all the information reasonably available to the Company that the Lenders have requested for deciding whether to purchase the Notes, including certain of the Company's presentation regarding the unit economics of its business, forecasts and projections of its business plan (such information, collectively, the "<u>Business Presentations</u>"). To the Company's knowledge, no representation or warranty of the Company contained in this Agreement, as qualified by the Schedules hereto, no Business Presentations, no financial statements provided by the Company and no certificate furnished or to be furnished to Lenders prior to or at the Closing contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained herein or therein not misleading in light of the circumstances under which they were made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties of the Lenders</u>. In connection with the transactions provided for herein, each Lender hereby represents and warrants to the Company 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;5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Authorization</u>. This Agreement constitutes such Lender's valid and legally binding obligation, enforceable in accordance with its terms, except as may be limited by (i) applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors' rights and (ii) laws relating to the availability of specific performance, injunctive relief or other equitable remedies. Each Lender represents that it has full power and authority to enter into 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;5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Purchase Entirely for Own Account</u>. Each Lender acknowledges that this Agreement is made with the Lenders in reliance upon such Lender's representation to the Company that the Notes, the Conversion Shares, and any Common Stock issuable upon conversion of the Conversion Shares (collectively, the "<u>Securities</u>") will be acquired for investment for such Lender'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 such Lender has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Agreement, each Lender further represents that such Lender does not have any contract, undertaking,

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agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to the 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;5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclosure of Information</u>. Each Lender acknowledges that it has received all the information it considers necessary or appropriate for deciding whether to acquire the Securities. Each Lender further represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the 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;5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Investment Experience</u>. Each Lender is an investor in securities of companies in the development stage and acknowledges that it is able to fend for itself, can bear the economic risk of its investment and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Securities. If other than an individual, each Lender also represents it has not been organized solely for the purpose of acquiring the 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;5.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Accredited Investor</u>. Each Lender is an "accredited investor" within the meaning of Rule 501 of Regulation D of the Securities and Exchange Commission (the "<u>SEC</u>"), as presently in effect.

&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>Restricted Securities</u>. Each Lender understands that the Securities are characterized as "restricted securities" under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act only in certain limited circumstances. Each Lender represents that it is familiar with SEC Rule 144, as presently in effect, and understands the resale limitations imposed thereby and by 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;5.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Further Limitations on Disposition</u>. Without in any way limiting the representations and warranties set forth above, each Lender further agrees not to make any disposition of all or any portion of the Securities unless and until the transferee has agreed in writing for the benefit of the Company to be bound by this Sections 5 and 9.11 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with such registration statement; 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;(i) such Lender has notified the Company of the proposed disposition and has furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition and (ii) if reasonably requested by the Company, such Lender shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration of such shares under the Act. It is agreed that the Company will not require opinions of counsel for transactions made pursuant to Rule 144 except in extraordinary circumstances or in any transaction in which a Lender transfers Securities to one or more affiliates of such Lender.

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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;5.8&nbsp;&nbsp;&nbsp;&nbsp;<u>U.S. Tax Person</u>. Each Lender is a U.S. person for U.S. federal income tax purposes.

&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>Legends</u>. It is understood that the Securities may bear the following legend:

"THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SUCH ACT."

&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>Affirmative Covenants</u>. So long as any amount owing under this Agreement, any Note or the other Note Documents remains unpaid, unless the Required Lenders shall have given their prior written consent, the Company shall, and shall cause each Obligor 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;<u>New Subsidiaries</u>. At least 5 days prior to any Person becoming a Subsidiary of any Obligor (or of a Subsidiary thereof), notify the Lenders that such a Person will become a Subsidiary and furnish the Lenders with all details thereof such as the name, date and jurisdiction of incorporation, the names of its shareholders or other owners and the percentages of ownership interest, a description of its businesses and addresses; in addition, with respect to any Subsidiary organized under the laws of the United States or any Material Subsidiary, such Obligor shall, within thirty (30) days of the acquisition or formation of such Subsidiary, cause such Subsidiary to execute and deliver to the Lenders a Guarantee and such other Note Documents requested by the Required Lenders consistent with the terms of this Agreement, including an acknowledgement and consent by such Subsidiary to this Agreement, and such other documents or information as the Required Lenders may reasonably request including, without limitation, officer's certificates, financial statements, search reports, resolutions, constitutive documents, legal opinions and any other documents referred to in Section 3.1, all in form and substance reasonably satisfactory to such Lenders.

&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>Security</u>. Do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, all such additional and future acts, deeds, instruments and assurances as are reasonably requested by Lenders to ensure at all times that the present and future Obligations of the Obligors are fully secured by valid and enforceable Liens for the benefit of the Lenders on all Collateral of the Obligors, subject only to Permitted Liens, as and in the manner required by Section 6.4. The Company shall ensure that (i) any Subsidiaries that (x) are Subsidiary Guarantors (as defined in the Senior Credit Agreement) under the Senior Credit Agreement (y) otherwise guarantee the payment and/or performance of the Senior Debt, shall become Subsidiary Guarantors hereof in accordance with Section 6.1(a) and (ii) any Assets that (x) become Collateral (as defined in the Senior Credit Agreement) under the Senior Credit

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Agreement or (y) are subject to the liens under the Senior Debt shall become Collateral under this Agreement and shall be subject to Liens in favor of the Lenders.

&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>Bank Operations and Accounts</u>. Subject to the Intercreditor Agreement, all of its North American bank accounts (including, any Deposit Account, Securities Account or Commodity Account, each as defined in the Security Agreement but excluding the Exempt Accounts) shall be subject to Control Agreements in favor of the Lenders; *provided that* such Control Agreements shall not be required in the event the Senior Lender does not have any perfected Lien on such accounts.

&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;<u>ERISA</u>. Promptly pay and discharge all obligations and liabilities arising under ERISA of a character which if unpaid or unperformed could reasonably be expected to have a Material Adverse Effect and promptly notify the Lenders of the occurrence of any event with respect to any Plan which would result in the incurrence by it of any material liability, fine or penalty, or any material increase in its contingent liability with respect to any post-retirement Plan benefit which, in all cases, could reasonably be expected to have a Material Adverse Effect.

&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;<u>Post-Closing Matters</u>. As promptly as reasonably practicable, and in any event within the time periods specified on Schedule 6.1(e) (or such longer period as the Required Lenders may agree), after the Closing Date, the Company shall complete, or cause the applicable Obligor to complete, such undertakings and deliveries, in each case, as are set forth on Schedule 6.1(e).

&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>Negative Covenants</u>. So long as any amount owing under this Agreement, any Notes or the other Note Documents remains unpaid, unless the Required Lenders have given their prior written consent, each Obligor shall not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Debt</u>. Create, incur, assume or suffer to exist any Debt, except for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Obligations or the Senior Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;(A) any Debt owing by an Obligor to another Obligor, (B) any Debt owing by a non-Obligor to an Obligor or any Subsidiary of an Obligor and (C) any Debt owing by an Obligor to a non-Obligor to the extent such Debt constitutes an Investment permitted hereunder; provided that for purposes of the clause (a)(iii), any guaranty of the Debt of another person shall be deemed to be Debt owed to such other person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;any Debt representing Capital Lease 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;unsecured Debt to trade creditors incurred 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;(v)&nbsp;&nbsp;&nbsp;&nbsp;Debt 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;&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;letters of credit and bank guaranties securing obligations with respect to leases of facilities and equipment, and commercial obligations in the ordinary course of business, not to exceed $1,100,000 in the aggregate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;purchase money indebtedness used to finance the acquisition of equipment; *provided that* the amount of purchase money indebtedness incurred hereunder shall not exceed the fair market value of the equipment financed by such purchase money indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Subordinated Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Debt with respect to any (i) treasury or other cash management services, including deposit accounts, automated clearing house (ACH) origination and other funds transfer, depository (including cash vault and check deposit), zero balance accounts and sweeps, return items processing, controlled disbursement accounts, positive pay, lockboxes and lockbox accounts, account reconciliation and information reporting, payables outsourcing, payroll processing, trade finance services, investment accounts and securities accounts and (ii) card services, including credit cards (including purchasing cards and commercial cards), prepaid cards, including payroll, stored value and gift cards, merchant services processing, and debit card services, in each case, incurred in the ordinary course of business; provided that any Debt incurred pursuant to this clause shall not be subject to any Liens except for 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;(x)&nbsp;&nbsp;&nbsp;&nbsp;Debt owing to insurance carriers and incurred to finance insurance premiums of any Obligor in the ordinary course of business in a principal amount not to exceed at any time the amount of insurance premiums to be paid by such Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)&nbsp;&nbsp;&nbsp;&nbsp;Debt in respect of (i) bids, tenders, performance bonds, statutory, attachment and appeal bonds, surety bonds or similar instruments and (ii) other similar bonds or similar instruments, workers' compensation claims, health, disability or other employee benefits and self-insurance obligations, in each case, 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;(xii)&nbsp;&nbsp;&nbsp;&nbsp;Debt assumed in connection with an acquisition or other investment, so long as (i) such Debt existed at the time the Person or assets subject to such acquisition or investment were acquired and was not created in anticipation thereof, and (ii) such Debt is not guaranteed in any respect by any Obligor (other than the Person subject to such acquisition or investment);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting Debt, obligations in respect of holdback obligations, working capital adjustments, indemnities and similar obligations incurred in connection with any asset disposition permitted hereunder or acquisition or other investment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)&nbsp;&nbsp;&nbsp;&nbsp;deferred purchase price obligations, earn-outs and similar obligations to the extent such Debt is unsecured;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv)&nbsp;&nbsp;&nbsp;&nbsp;Debt in respect of judgments, orders, decrees or arbitration awards for the payment of money not constituting an Event of Default; 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi)&nbsp;&nbsp;&nbsp;&nbsp;Other Debt not otherwise permitted hereunder not to exceed $1,100,000 at any time outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Liens</u>. Create, incur, assume or suffer to exist any Lien on any of its Assets, other than Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Asset Disposition; Distribution</u>. Except for Permitted Dispositions, make any Asset Disposition or distribute any of its Assets (including any Capital Stock of any of its Subsidiaries or any of its other Assets, present or future) to any Person unless the proceeds of such Asset Disposition are reinvested within one hundred and eighty (180) days of such Asset Disposition or are used to make a mandatory prepayment of the Senior Debt pursuant to the terms of the Senior Credit Agreement; *provided that* any distributions of Assets among the Company and its Subsidiaries to the extent that are permitted under clauses (i), (ii) and (iii) of Section 6.2(d) shall be permitted for purpose of this Section 6.2(c).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Transactions with Affiliates, Etc</u>. Directly or indirectly (i) purchase, acquire or lease any Assets from, (ii) sell, transfer or lease any Assets to, or (iii) permit any Obligor to purchase, acquire or lease any Assets from, or sell, transfer or lease any Assets to, any Affiliate of any Obligor, except for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;such purchases, sales, acquisitions, leases and transfers at prices and on terms not less favourable to the Company or such Obligor, as the case may be, than those which would have been obtained in an arms' length transaction with an arms' length 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;purchases, sales, acquisitions, leases and transfers between the Company and any of Company and the Guarantors or between Guarantors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;transfers of inventory between the Obligors and their Subsidiaries in the ordinary course of business; 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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;transactions otherwise permitted 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;6.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Reporting and Information</u>. So long as any amount owing under this Agreement, any Note or the other Note Documents remains unpaid, the Company shall, and shall cause each other Obligor to furnish to the Lenders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Intellectual Property</u>. As soon as available and in any event within forty-five (45) days after the end of each calendar month, the Company shall provide Lenders with a report of new registered Intellectual Property acquired or applied for since the last report. Before submitting any registration of copyright mask works to the United States Copyright Office, the Company shall provide the Lenders with prior written notice together with a copy of the application it intends to file with the United States Copyright Office. With respect to any Intellectual Property registered in the United States and acquired by any Obligor or changed after the Closing Date, each of the Obligors hereby agrees to deliver or cause any other

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Obligor to deliver, to the Lenders an Intellectual Property security agreement or other documents as the Lenders may reasonably require to perfect its lien therein or protect its interest with respect thereto, and authorizes the Lenders to amend any previously delivered Intellectual Property security agreement to amend any schedule thereto to reflect such addition or change. The Company shall promptly (but in any event within ten (10) Banking Days after becoming aware thereof) notify the Lenders of the institution of any proceeding in, or any adverse determination by, the United States Patent and Trademark Office, United States Copyright Office or similar agency regarding ownership, or the enforceability or validity of any Intellectual Property of any Obligor or any of its Subsidiaries, and any suspected material infringement of any of such Intellectual Property or any claim or material infringement by any Obligor or any of its Subsidiaries on the Intellectual Property rights of a third party, but for greater certainty the Company shall not be required to notify the Lenders of any such correspondence that is received in the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Default</u>. As soon as possible and in any event within two (2) Banking Days after becoming aware of the occurrence of any Event of Default or becoming aware of any event which constitutes a Default, a statement of a senior officer of the Obligors setting forth details of such Event of Default or Default and the action which the Company proposes to take with respect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Default under Senior Credit Agreement</u>. As soon as possible and in any event within two (2) Banking Days after becoming aware of the occurrence of any Event of Default (as defined in the Senior Credit Agreement) or becoming aware of any event which constitutes a Default (as defined in the Senior Credit Agreement), a statement of a senior officer of the Obligors setting forth details of such event of default or default and the action which the Company proposes to take with respect thereto.

Notwithstanding otherwise provided herein, during any period that at least one or more members of the Board is appointed by the Lenders or Affiliates of the Lenders, any information, reports, statements or notices required to be furnished or provided to the Lenders under this Section 6.3 shall be deemed so furnished or provided to the extent such information, reports, statements or notices are presented to the Board within the required time period for such delivery.

&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>Security</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>Lien Priority</u>. The payment and performance when due of all Obligations of the Obligors shall at all times be secured by Liens for the benefit of the Lenders on the Assets of the Obligors 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;a second priority Lien, on all present and future Assets of the Obligors, subject only to Permitted Liens;

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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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;a pledge of Capital Stock by the Obligors of all Capital Stock in their Subsidiaries.

Notwithstanding the foregoing, in no event shall any Excluded Assets be subject to any Liens for the benefit of the Lenders.

&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>Guarantees</u>. An unconditional guarantee for the benefit of the Lenders by each Guarantor with respect to the payment and performance of the 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Security</u>. The payment and performance when due of all Obligations of the Obligors shall also be secured by the following to the Lenders' entire satisfaction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Security Documents to be executed by new Subsidiaries in accordance with the provisions of Section 6.1(a), including a general security agreement covering the Collateral and an intellectual property security agreement covering all Intellectual Property of the Obligors, each in a form and substance reasonably satisfactory to the Lenders; 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;any other security documents or agreements required by the Lenders, acting reasonably.

&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;<u>Provisions in Respect of the Security</u>. Each agreement or other document creating, evidencing or relating to the Liens referred to in this Section 6.4 shall be in form and substance reasonably satisfactory to the Lenders, and unless otherwise agreed by the Lenders shall be duly registered, recorded, filed and all other notices given, consents obtained and actions taken, in each case so the Liens created, granted or evidenced therein shall constitute valid and enforceable Liens for the benefit of the Lenders on all the Collateral stated to be subject thereto, subject only to Permitted Liens in each jurisdiction in which the Obligors are incorporated, in each case, as the Lenders reasonably requests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;<u>State Commissioners of Corporations</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>California Corporate Securities Law</u>. THE SALE OF THE SECURITIES WHICH ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION FOR SUCH SECURITIES PRIOR TO SUCH QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM QUALIFICATION BY SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Defaults and Remedies</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>Events of Default</u>. Any of the following events shall be considered an "Event of Default" with respect to each Note:

&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>Default in Payment of Note</u>: The Company shall default in the payment of any part of the principal or unpaid accrued interest on the Note for more than thirty (30) days after the Maturity Date or at a date fixed by acceleration 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Default in Principal Payment of Senior Debt</u>. If any Obligor shall fail to make any payment of principal or interest on the Senior Debt when due (after giving effect to any grace period thereof), whether due by acceleration or otherwise; *provided however*, that the Event of Default under this Section 8.1(b) shall be deemed cured or waived for purposes of this Agreement upon the Lenders receiving evidence reasonably satisfactory to the Lenders that such payment default has been cured or waiver under the Senior Credit 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Insolvency and Bankruptcy</u>. The Company shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due, or shall file a voluntary petition for bankruptcy, or shall file any petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, dissolution or similar relief under any present or future statute, law or regulation (each an "<u>Insolvency Proceeding</u>"), or shall file any answer admitting the material allegations of a petition filed against the Company in any such proceeding, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of the Company, or of all or any substantial part of the properties of the Company, or the Company or its respective directors or majority stockholders shall take any action looking to the dissolution or liquidation 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Involuntary Bankruptcy</u>. Within thirty (30) days after the commencement of any proceeding against the Company seeking any bankruptcy reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed, or within thirty (30) days after the appointment without the consent or acquiescence of the Company of any trustee, receiver or liquidator of the Company or of all or any substantial part of the properties of the Company, such appointment shall not have been vacated;

&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;<u>Junior Notes Default</u>. Default or defined event of default that has not otherwise been cured or forgiven shall occur under the Junior Note Purchase Agreement or any Junior Notes.

&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;<u>Cross-Default</u>. Default or defined event of default that has not otherwise been cured or forgiven shall occur under any agreement to which the Company or any of its subsidiaries is a party that evidences indebtedness of $6,500,000 or more;

&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>Inaccurate Fundamental Representations</u>. Any Fundamental Representation is incorrect or misleading in any material respect when made or deemed made;

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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;(h)&nbsp;&nbsp;&nbsp;&nbsp;<u>Default in Performance</u>. Other than those Events of Default listed in other clauses of this Section 8.1 (and the underlying obligations thereof), if any Obligor shall fail to observe or perform any other obligation to be observed or performed by it under this Agreement, the Notes, or the other Note Documents within 30 days after written notice from the Required Lenders to perform or observe the 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Judgment</u>. If a final non-appealable judgment or order for the payment of money in excess of $3,300,000 individually or in the aggregate not covered by independent third-party insurance as to which liability has not been denied by such insurance carrier is rendered against any Obligor and such judgment or order shall continue unsatisfied and unstayed (or shall not have been vacated) 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;(j)&nbsp;&nbsp;&nbsp;&nbsp;<u>ERISA Event</u>: an ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan that has resulted or could reasonably be expected to result in liability of the Company under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of $3,300,000;

&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;<u>Seizure; Attachment</u>. If a seizure or attachment is made of, or enforcement made against, any Assets of any Obligor (other than Permitted Liens) which Assets in the aggregate have a book value in excess of $3,300,000, provided that such seizure, enforcement or taking of possession or control continues in effect and remains undischarged for a period of thirty (30) days; *provided however*, that the Event of Default under this Section 8.1(l) shall be deemed cured or waived for purposes of this Agreement upon the Lenders receiving evidence reasonably satisfactory to the Lenders that such seizure or attachment default has been cured or waiver under the Senior Credit 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;(m)&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination of Guarantee</u>. If any Guarantor withdraws or terminates, or attempts to withdraw or terminate its Guarantee, except as otherwise permitted hereunder; *provided*, that no Event of Default shall result from such termination or withdrawal if such Guarantor ceases to guarantee the obligations under the Senior Credit 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;8.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of a Default</u>. Upon the occurrence and during the continuation of any Event of Default, the Required Lenders, by notice to the Company may (i) declare the Notes, all interest accrued and unpaid thereon and all other amounts payable by the Company or the other Obligors under or pursuant to this Agreement, the Notes and the other Note Documents to be forthwith due and payable, whereupon the outstanding principal amount of the Notes, all such accrued interest and all such other amounts shall become and be forthwith immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Company. Thereupon, the Company shall immediately pay to the

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Lenders all such amounts due and payable. In addition to the foregoing, if an Event of Default pursuant to Sections 8.1(c) or 8.1(d) shall occur, the outstanding principal amount of the Notes, all interest accrued and unpaid thereon and all other amounts payable by the Company or the other Obligors under or pursuant to this Agreement, the Notes and the other Note Documents shall automatically be and become immediately due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Company, and thereupon the Company shall immediately pay to the Lenders all such amounts due and payable. For greater certainty, the Company will be considered to be in default of its obligations hereunder by the mere lapse of time provided for performing such obligations, without any requirement of further notice or other act of any Lender unless a notice is specifically required hereunder. If an Event of Default shall have occurred and be continuing, the Lenders may immediately exercise all rights and remedies they may have under this Agreement, the Notes and the other Note Documents and by Law, all without any additional notice, presentment, demand, protest, notice of dishonor, take possession of any of the Collateral, or any other action, notice of all of which are expressly waived by the Obligors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies Cumulative; No Waiver</u>. For greater certainty, it is expressly understood and agreed that the rights and remedies of the Lenders under this Agreement, the Notes and the other Note Documents are cumulative and are in addition to, not in substitution for, any rights or remedies provided by any Applicable Law; no failure on the part of any Lender to exercise, and no delay in exercising, any right or remedy hereunder or thereunder shall operate as a waiver thereof, nor shall any single or partial exercise by any Lender of any right or remedy for a default or breach of any term, covenant, condition or agreement herein contained prejudice or preclude any other or further exercise thereof or the exercise of any other right or remedy for the same or any other default or breach and shall not waive, alter, affect or prejudice any other right or remedy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;<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;9.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns</u>. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties, <u>provided</u>, <u>however</u>, that (i) the Company may not assign its obligations under this Agreement without the written consent of the Required Lenders and (ii) the Lenders may assign the Notes, in whole or in part to their Affiliates without consent of the Company, provided that the Lenders shall provide written notice to the Company promptly after such assignment (and the failure to provide such notice shall not invalidate such assignment). Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided 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>Governing Law; Submission to Jurisdiction; Etc.</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>Governing Law</u>. This Agreement, the Notes and the other Note Documents and any claims, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Agreement, the Notes or any other Note Document (except, as to any other Note Document, as expressly set forth therein) and the

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transactions contemplated hereby and thereby shall be governed by, and construed in accordance with, the law of the State of New York.

&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>Submission to Jurisdiction</u>. The Company hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the courts of the State of New York in the County of New York and of the United States District Court for the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, the Notes or the other Note Documents or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such federal court. Each of the parties hereto agrees that a final non-appealable judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Lenders may otherwise have to bring any action or proceeding relating to this Agreement against the Company or its properties in the courts of any 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Venue</u>. The Company hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement, the Notes or other Note Documents in any court referred to in Section 9.2(b). Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

&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;<u>Service of Process</u>. Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 9.5. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner 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;9.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</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.

&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>Titles and Subtitles</u>. The titles and subtitles used in this Agreement are used 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;9.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not so confirmed, then on the next business day, (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be

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sent to the respective parties at the following addresses (or at such other addresses as shall be specified by notice given in accordance with this Section 9.5):

If to the Company:

**Neutron Holdings, Inc.**

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If to the Lenders:

At the respective addresses shown on the signature pages hereto.

&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>Finder's Fee</u>. Each party represents that it neither is nor will be obligated for any finder's fee or commission in connection with this transaction. Each Lender agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which such Lender or any of its officers, partners, employees or representatives is responsible. The Company agrees to indemnify and hold harmless each Lender from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

&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>Expenses</u>. If any action at law or in equity arises as between the Company and the Lenders (other than in connection with an Event of Default or a Default or Lenders' enforcement of or preservations of any rights under any Note Document), the prevailing party shall be entitled to reasonable attorneys' fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. The Company shall reimburse the Lenders all costs and expenses incurred by the Lenders in connection with their enforcement of or preservations of any rights under any Note Documents in connection with an Event of Default or a Default.

&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>Entire Agreement; Amendments and Waivers</u>. This Agreement and the Notes and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof. Any term of this Agreement or the Notes may be amended and the observance of any term of this Agreement or the Notes may be waived (either generally or in a particular instance and either retroactively or prospectively), with the written consent of the Company and the Required Lenders; provided however, that any amendment to (i) the interest rate on the Notes or (ii) the terms of conversion of the Notes into Equity Securities of the Company (including, without limitation, changes to the definitions of Conversion Price, Conversion Securities or Valuation Cap) shall require the consent of the Majority Note Holders (as defined in the Junior Note Purchase Agreement). Any waiver or amendment effected in accordance with this Section 9.8 shall be binding upon each party to this Agreement and any holder of any Note purchased under this Agreement at the time outstanding and each future holder of all such Notes.

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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;9.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Amendment or Waiver</u>. Each Lender acknowledges that by the operation of Section 9.9 hereof, the Required Lenders will have the right and power to diminish or eliminate all rights of such Lender under this Agreement and each Note issued to such Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision 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;9.11&nbsp;&nbsp;&nbsp;&nbsp;<u>"Market Stand-Off" Agreement</u>. Each Lender hereby agrees that it will be bound by Section 2.11 of the Investors' Rights Agreement, and agrees that a legend reading substantially as set forth in Section 2.12(b) of the Investors Rights Agreement will be placed on all certificates representing all Conversion Shares of each Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Purchase Agreement</u>. Each Lender understands and agrees that the conversion of the Notes into Conversion Shares may require such Lender's execution of certain agreements (in form reasonably agreeable to the Lender) relating to the conversion, purchase and sale of such 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;9.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Exculpation Among Lenders</u>. Each Lender acknowledges that it is not relying upon any person, firm, corporation or stockholder, other than the Company and its officers and directors in their capacities as such, in making its investment or decision to invest in the Company. Each Lender agrees that no other Lender nor the respective controlling persons, officers, directors, partners, agents, stockholders or employees of any other Lender shall be liable for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase and sale of the 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;9.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement</u>. In order to avoid doubt, it is acknowledged that each Lender shall be entitled to the benefit of all adjustments in the number of shares of Common Stock of the Company issuable upon conversion of the Preferred Stock of the Company or as a result of any splits, recapitalizations, combinations or other similar transaction affecting the Common Stock or Preferred Stock underlying the Conversion Shares that occur prior to the conversion of the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Further Assurance</u>. From time to time, the Company shall execute and deliver to the Lenders such additional documents and shall provide such additional information to the Lenders as any Lender may reasonably require to carry out the terms of this Agreement, the Notes and the other Note Documents and any agreements executed in connection herewith or therewith, or to be informed of the financial and business conditions and prospects 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;9.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Jury Trial</u>. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, CAUSE OF ACTION, OR PROCEEDING ARISING UNDER OR WITH RESPECT TO THIS AGREEMENT, OR IN ANY WAY CONNECTED WITH, OR RELATED TO, OR INCIDENTAL TO, THE DEALING OF THE

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PARTIES HERETO WITH RESPECT TO THIS AGREEMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND IRRESPECTIVE OF WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY AGREES THAT ANY SUCH CLAIM, DEMAND, ACTION, OR PROCEEDING SHALL BE DECIDED BY A COURT TRIAL WITHOUT A JURY AND THAT EITHER PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF ANY OTHER PARTY HERETO TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY.

[*Signature pages follow*]

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

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| | | |
|:---|:---|:---|
| | **BORROWER:** | **BORROWER:** |
| | **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| | By: | /s/ Wayne Ting |
| | | Print Name: Wayne Ting |
| | | Title: Chief Executive Officer |
| Address: | [\*\*\*] | [\*\*\*] |

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**SIGNATURE PAGE TO NOTE PURCHASE AGREEMENT**

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

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| | | |
|:---|:---|:---|
| | **LENDERS:** | **LENDERS:** |
| | **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| | By: | /s/ Jennifer Jarrett |
| | Print Name: Jennifer Jarrett | Print Name: Jennifer Jarrett |
| | Title: VP Corporate Development and Capital Markets | Title: VP Corporate Development and Capital Markets |
| Address: | [\*\*\*] | [\*\*\*] |

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**SIGNATURE PAGE TO NOTE PURCHASE AGREEMENT**

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<u>SCHEDULE OF LENDERS</u>

[\*\*\*]

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<u>Exhibit A</u>

Form of Note

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<u>Exhibit B</u>

Exchange Agreement

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**SCHEDULE 4.5**

**LITIGATION AND OTHER PROCEEDINGS**

[\*\*\*]

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**SCHEDULE 4.9**

**INTELLECTUAL PROPERTY**

[\*\*\*]

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**SCHEDULE 4.11**

**AGREEMENTS; ACTIONS**

[\*\*\*]

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**SCHEDULE 4.18**

**OBLIGORS' JURISDICTION ETC.**

[\*\*\*]

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**SCHEDULE 6.1(e)**

**POST-CLOSING MATTERS**

[\*\*\*]

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**CONSENT**

This **CONSENT**, dated as of June 4, 2021 (this "***Agreement***"), is made by and among Neutron Holdings, Inc., a Delaware corporation ("***Borrower***"), and Uber Technologies, Inc. (the "***Specified Lender***"), with respect to the Note Purchase Agreement and the Security Agreement referred to below.

**RECITALS**

**WHEREAS**, the Borrower and the lenders from time to time party thereto are parties to that certain (i) Note Purchase Agreement, dated as of May 7, 2020 (as amended, amended and restated, modified or supplemented from time to time, the "***Note Purchase Agreement***") and (ii) Security Agreement, dated as of May 7, 2020 (as amended, amended and restated, modified or supplemented from time to time, the "*Security Agreement*").

**WHEREAS**, the Borrower desires to enter into that certain Credit Agreement, dated as of the date hereof (as amended, amended and restated, modified or supplemented from time to time, the "*Senior Credit Agreement*"), with Clover Private Credit Opportunities Origination II LP (in such capacity, "*Clover*"; together with any other Person (as defined in the Senior Credit Agreement) that shall have become a party to the Credit Agreement as a lender, collectively, the "***Senior Lender***") and Wilmington Trust, National Association, as administrative agent and collateral agent for the Senior Lender (in such capacity, together with any successors and assigns, the "***Senior Agent***").

WHEREAS, Section 6.2(a) of the Note Purchase Agreement restricts the incurrence of Debt, other than Debt permitted by Section 6.2(a) of the Note Purchase Agreement and Section 6.2(b) of the Note Purchase Agreement restricts the incurrence of any Liens on any Assets, except for Permitted Liens.

**WHEREAS**, the Borrower has requested that the Specified Lender consents to (x) the Borrower's execution of the Senior Credit Agreement, and (y) the incurrence of the Debt and Liens on the Assets in favor of the Senior Agent for the benefit of the Senior Lender to secure the Senior Credit Agreement and the Loan Documents (as defined in the Senior Credit Agreement).

WHEREAS, the Specified Lender, constituting the Required Lenders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

**SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;Definitions; Interpretation.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement or the Security Agreement, as context dictates.

**SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;Consent**. Subject to the satisfaction of the conditions precedent set forth in Section 3 hereof, as of the Effective Date (as defined below), the Specified Lender hereby consents to the incurrence by the Borrower of (x) the Debt under the Senior Credit Agreement as in effect on the date hereof and (y) Liens on the Collateral in favor of the Senior Agent for the benefit of the Senior Lender to secure the Senior Credit Agreement and the Loan Documents (as defined in the Senior Credit Agreement), in each case, as in effect as of the date hereof.

**SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness; Conditions Precedent.** The effectiveness of this Agreement shall be subject to the following conditions precedent (the date all of such conditions are satisfied, the "***Effective Date***").

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Borrower and the Lenders of copies of this Agreement duly executed by the Borrower and the Specified Lender constituting the Required Lenders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Lenders of the duly executed copies of the Senior Credit Agreement and the other Loan Documents (as defined in the Senior Credit Agreement); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;no Default or Event of Default shall have occurred and be continuing, after giving effect to this Agreement.

**SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

**SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**No Waiver**. Except as expressly set forth in **Sections 2**, nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Note Purchase Agreement or the Security Agreement or constitute a course of conduct or dealing among the parties. Except as amended hereby, the Note Purchase Agreement and the Security Agreement remain unmodified and in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed," "signature," and words of like import in this Agreement or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement or the Security Agreement, the provisions of this Agreement shall govern and prevail.

*[Remainder of page intentionally left blank]*

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**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

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| | |
|:---|:---|
| **Borrower:** | **Borrower:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By | /s/ Andrea Ellis |
| | Name: Andrea Ellis |
| | Title: Chief Financial Officer |

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[Signature Page to Consent and Waiver (Uber NPA)]

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| | |
|:---|:---|
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Madhu Kannan |
|  | Name:  |
|  | Title:  |

---

[Signature Page to Consent and Waiver (Uber NPA)]

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**CONSENT AND WAIVER** 

This **CONSENT AND WAIVER**, dated as of September 27, 2021 (this "***Agreement***"), is made by and among Neutron Holdings, Inc., a Delaware corporation ("***Borrower***"), and Uber Technologies, Inc. (the "***Specified Lender***"), with respect to the Note Purchase Agreement and the Security Agreement referred to below.

**RECITALS**

**WHEREAS**, the Borrower and the lenders from time to time party thereto are parties to that certain (i) Note Purchase Agreement, dated as of May 7, 2020 (as amended, amended and restated, modified or supplemented from time to time, the "***Note Purchase Agreement***") and (ii) Security Agreement, dated as of May 7, 2020 (as amended, amended and restated, modified or supplemented from time to time, the "***Security Agreement***").

**WHEREAS**, (i) a Default or Event of Default under Section 8.1(h) of the Note Purchase Agreement has occurred as a result of a breach of the covenants contained in Section 6.2(a) of the Note Purchase Agreement due to the Borrower's incurrence of the letters of credit set forth on <u>Exhibit A</u> attached hereto (the "***Letters of Credit***") in violation of such Section 6.2(a) (the "***Incurrence Default***"), (ii) a Default or Event of Default under Section 8.1(h) of the Note Purchase Agreement may have occurred as a result of a breach of the covenants contained in Section 6.3(b) of the Note Purchase Agreement due to the Borrower's failure to provide notice of the Incurrence Default, and (iii) an Event of Default under Section 8.1(f) of the Note Purchase Agreement may have occurred as a result of an event of default under the Senior Debt of the Borrower due to the cross default in the Senior Credit Agreement occurring as a result of the Incurrence Default or the failure to give notice thereof (the Incurrence Default and such other Defaults and Events of Defaults described above, the "***Specified Defaults***" and the Sections of the Note Purchase Agreement relating thereto, the "***Specified Provisions***").

**WHEREAS**, the Borrower has requested that the Specified Lender (i) consent to the incurrence of the Letters of Credit, and any renewals and replacements thereof, (ii) waive the Specified Defaults, and (iii) waive any failure to comply with the Specified Provisions in connection with the Specified Defaults.

**WHEREAS**, the Specified Lender, constituting the Required Lenders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

**SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;Definitions; Interpretation.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement or the Security Agreement, as context dictates.

**SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;Consent, Waiver and Amendment**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the satisfaction of the conditions precedent set forth in Section 3 hereof, as of the Effective Date (as defined below), the Specified Lender hereby (i) consents to the incurrence by the Borrower of the Letters of Credit, and any renewals and replacements thereof of the same or lesser amounts, (ii) waives the Specified Defaults, and (iii) waives any failure by the Borrower to comply with the Specified Provisions in connection with the Specified Defaults.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the satisfaction of the conditions precedent set forth in Section 3 hereof, as of the Effective Date (as defined below), Section 6.2(a)(vi) of the Note Purchase Agreement is hereby amended and restated in its entirety with the following: "letters of credit and bank guaranties securing obligations with respect to leases of facilities and equipment, and commercial obligations in the ordinary course of business either (i) set forth on Schedule 6.2(a) or (ii) otherwise in amounts not to exceed $1,100,000 in the aggregate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) &nbsp;&nbsp;&nbsp;&nbsp;Subject to the satisfaction of the conditions precedent set forth in Section 3 hereof, as of the Effective Date (as defined below), the Note Purchase Agreement is hereby amended by adding <u>Exhibit A</u> attached hereto as Schedule 6.2(a) of the Note Purchase Agreement.

**SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness; Conditions Precedent.** The effectiveness of this Agreement shall be subject to the following conditions precedent (the date all of such conditions are satisfied, the "***Effective Date***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Borrower and the Lenders of copies of this Agreement duly executed by the Borrower and the Specified Lender constituting the Required Lenders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;no Default or Event of Default shall have occurred and be continuing, after giving effect to this Agreement.

**SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

**SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**No Waiver**. Except as expressly set forth in **Section 2**, nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in, or an amendment or modification to, the Note Purchase Agreement, the Security Agreement or the Senior Credit Agreement or constitute a course of conduct or dealing among the parties. Except as expressly amended hereby, the Note Purchase Agreement, the Security Agreement and the Senior Credit Agreement remain unmodified and in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed,"

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"signature," and words of like import in this Agreement or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement or the Security Agreement, the provisions of this Agreement shall govern and prevail.

*[Remainder of page intentionally left blank]*

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**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

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| | |
|:---|:---|
| **Borrower:** | **Borrower:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By | /s/ Wayne Ting  |
| | Name: Wayne Ting |
| | Title: Chief Executive Officer |

---

[Signature Page to Consent and Waiver]

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| | |
|:---|:---|
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Madhu Kannan |
|  | Name: Madhu Kannan |
|  | Title: Vice President, Corporate Development |

---

[Signature Page to Consent and Waiver]

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<u>Letters of Credit</u>

[\*\*\*]

------

**Execution Version**

**CONSENT, WAIVER AND AMENDMENT**

This **CONSENT, WAIVER AND AMENDMENT**, dated as of October 29, 2021 (this "***Agreement***"), is made by and among Neutron Holdings, Inc., a Delaware corporation ("***Company***"), Lime Neutron LLC ("***Guarantor***") and Uber Technologies, Inc. (the "***Specified Lender***"), with respect to the Note Purchase Agreement, the Security Agreement, the Guarantee and the Security Documents referred to below.

**RECITALS**

**WHEREAS**, the Company and the lenders from time to time party thereto are parties to that certain (i) Note Purchase Agreement, dated as of May 7, 2020 (as amended, amended and restated, modified or supplemented from time to time, the "***Note Purchase Agreement***"), (ii) Security Agreement, dated as of May 7, 2020, among the Specified Lender, Borrower and Guarantor (as amended, amended and restated, modified or supplemented from time to time, the "***Security Agreement***"), (iii) Guarantee, dated as of May 7, 2020, among the Specified Lender and Guarantor (as amended, amended and restated, modified or supplemented from time to time, the "***Guarantee***"), and (iv) the other Security Documents.

**WHEREAS**, the Company desires to enter into that certain Note Purchase Agreement, dated as of the date hereof (as amended, amended and restated, modified or supplemented from time to time, the "***New Note Purchase Agreement***"), with Wilmington Savings Fund Society, FSB, as collateral agent for the Holders (as defined therein) (the "***Collateral Agent***"), and the purchasers party thereto (the "***Purchasers***").

**WHEREAS**, Section 6.2(a) of the Note Purchase Agreement restricts the incurrence of Debt, other than Debt permitted by Section 6.2(a) of the Note Purchase Agreement and Section 6.2(b) of the Note Purchase Agreement restricts the incurrence of any Liens on any Assets, except for Permitted Liens.

**WHEREAS**, the Company has requested that the Specified Lender consents to (x) the Company's execution of the New Note Purchase Agreement, and (y) the incurrence of the Debt and Liens on the Assets in favor of the Collateral Agent for the benefit of the Holders to secure the New Note Purchase Agreement and the Notes Documents (as defined in the New Notes Purchase Agreement).

**WHEREAS**, the Company desires that the security provided under the Note Purchase Agreement, the Security Agreement and the other Security Documents be identical to the security being granted to the Collateral Agent for the Purchasers under the New Note Purchase Agreement, the Security Agreement (as defined in the New Notes Purchase Agreement) and the Security Documents (as defined in the New Notes Purchase Agreement).

**WHEREAS**, the Company has requested that the Specified Lender agree to amend certain provisions of the Note Purchase Agreement, the Security Agreement, the Guarantee and the Security Documents to match the similar provisions in the New Note Purchase Agreement and the Security Documents (as defined in the New Note Purchase Agreement).

**WHEREAS**, the Specified Lender, constituting the Required Lenders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

**SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;Definitions; Interpretation.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement or the Security Agreement, as context dictates.

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**SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;Consent**. Subject to the satisfaction of the conditions precedent set forth in <u>Section 5</u> hereof, as of the Effective Date (as defined below), the Specified Lender hereby consents to the incurrence by the Company of (x) the Debt under the New Notes Purchase Agreement as in effect on the date hereof and (y) Liens on the Collateral in favor of the Collateral Agent for the benefit of the Holders to secure the New Notes Purchase Agreement and the Notes Documents (as defined in the New Notes Purchase Agreement), in each case, as in effect as of the date hereof.

**SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;Amendments**. The Note Purchase Agreement, the Security Agreement, the Guarantee and the other Security Documents are hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Section 1 of the Note Purchase Agreement is hereby amended by adding the following terms in alphabetical order:

"<u>Amendment Date</u>" shall mean October [__], 2022.

"<u>Domestic Subsidiary</u>" means any Subsidiary of the Company organized under the laws of the United States of America, any State thereof, the District of Columbia, or any other jurisdiction within the United States of America.

"<u>Intercreditor Agreement</u>" means the Intercreditor Agreement, dated as of the date hereof, by and among the Wilmington Savings Fund Society, FSB, the purchasers party thereto, the Lenders, the Company and the Guarantors, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof.

"<u>Senior Agent</u>" shall mean the "Agent" as defined in the Senior Credit Agreement.

"<u>Senior Intercreditor Agreement</u>" means the Subordination and Intercreditor Agreement, dated as of June 4, 2021, by and among the Lenders, the Senior Agent and the Company, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The definition of Guarantor in Section 1 of the Note Purchase Agreement is hereby amended and restated as follows:

"<u>Guarantor</u>" means (i) each Domestic Subsidiary of the Company that has executed or delivered, or shall in the future, pursuant to Section 6.1, execute or deliver, any guarantee of Obligations, and (ii) each other Subsidiary of the Company that the Company shall, in its sole discretion, cause to execute and deliver (a) a guarantee of Obligations and (b) other Security Documents, in form and substance reasonably acceptable to the Company and the Required Lenders, including control agreements or other instruments that provide the Lenders with a perfected Lien (subject to Permitted Liens) over any deposit accounts or securities accounts held by such Subsidiary; <u>provided</u>, that, subject to <u>Section 6.1(e)</u>, any Subsidiary that guarantees the obligations under the Senior Credit Agreement shall also be required to guarantee the Obligations and grant security in favor of the Lenders in accordance with <u>Sections 6.1(a)</u> and <u>(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.1(a) of the Note Purchase Agreement is hereby amended and restated with 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>New Subsidiaries</u>. Except as otherwise approved by the Required Lenders (as defined in the Senior Credit Agreement) under Section 7.13 of the Senior Credit Agreement (such that the requirements of such Section 7.13 are not so required to be complied with thereunder),

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with respect to (x) any Subsidiary formed or acquired after the Amendment Date or (y) any Subsidiary existing on the Amendment Date that does not guarantee the obligations under the Senior Credit Agreement on the Amendment Date but subsequently guarantees the obligations under the Senior Credit Agreement at any time after the Amendment Date, the Company and the Guarantors shall, within thirty (30) days (or such longer period as the Senior Agent may agree) of formation or acquisition (in the case of clause (x)) or the date such Subsidiary guarantees the obligations under the Senior Credit Agreement (in the case of clause (y)), cause (i) any such Subsidiary that is a Domestic Subsidiary and (ii) any such Subsidiary that is not a Domestic Subsidiary that guarantees the obligations under the Senior Credit Agreement, to guarantee the Obligations and grant to the Lenders a security interest in, subject to the limitations set forth herein and in the Note Documents, all of such Subsidiary's property to secure such guarantee. The Company and the Guarantors shall deliver, or cause to be delivered, to the Lenders, appropriate resolutions, secretary certificates and certified organization documents and, if requested by Senior Agent (acting at the direction of the Required Lenders (as defined in the Senior Credit Agreement)) with respect to the Obligations (as defined in the Senior Credit Agreement), legal opinions relating to the matters described in this Section 6.1(a) (which opinions shall be in form and substance reasonably acceptable to the Required Lenders and, to the extent applicable, substantially similar to the opinions previously delivered to the Lenders); it being understood and agreed that no opinion shall be required with respect to the determination of whether any Subsidiary is a Domestic Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.1(b) of the Note Purchase Agreement is hereby amended and restated with 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Security</u>. The Company shall, and shall cause the Company and each Guarantor to, do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, all such additional and future acts, deeds, instruments and assurances as are reasonably requested by Required Lenders to ensure at all times that the present and future obligations of the Company in respect of the Notes and the guarantees by each Guarantor are fully secured by valid and enforceable Liens for the benefit of the Lenders on all Collateral of each of the Company and the Guarantors, subject only to Permitted Liens, as and in the manner required by <u>Section 6.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.1(c) of the Note Purchase Agreement is hereby amended and restated with 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Bank Operations and Accounts</u>. Subject to the Senior Intercreditor Agreement and the Intercreditor Agreement, the Company shall use commercially reasonable efforts within ninety (90) days after (i) the Amendment Date or (ii) in the case of any Person that becomes a Guarantor after the Amendment Date, the date such Person becomes a Guarantor (in each case, or such longer period as the Lenders may agree (acting at the direction of the Required Lenders), to cause the Company and each Guarantor to deliver control agreements with respect to its bank accounts (including, any deposit account, securities account or commodity account, each as defined in the Security Agreement but excluding any Exempt Accounts); <u>provided</u> that such control agreements shall not be required in the event the Senior Agent is not a party to a control agreement that has perfected its Lien on such accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.1(e) of the Note Purchase Agreement is hereby amended and restated with 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Guarantees and Security</u>. Subject to the Senior Intercreditor Agreement, the Company shall cause, within ninety (90) days (or such longer period of time as

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the Required Lenders may agree) after the Amendment Date, (x) all Subsidiaries of the Company that are guarantors of the obligations under the Senior Credit Agreement on the Amendment Date to become Guarantors of the Obligations and to execute and deliver a supplement to the Guarantee in form and substance satisfactory to the Required Lenders and (y) all Assets of the Company and its Subsidiaries that are subject to the liens under the Senior Indebtedness on the Amendment Date to become Collateral under this Agreement and become subject to Liens in favor of the Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of the Note Purchase Agreement, the Security Agreement and the Guarantee are hereby amended and restated with the following:

THIS AGREEMENT IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN (A) THAT CERTAIN SUBORDINATION AND INTERCREDITOR AGREEMENT, DATED AS OF JUNE 4, 2021 (AS AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME), BY AND AMONG WILMINGTON TRUST, NATIONAL ASSOCIATION, AS THE SENIOR AGENT, UBER TECHNOLOGIES, INC., AS THE SUBORDINATED LENDER AND THE COMPANY, (B) THAT CERTAIN INTERCREDITOR AGREEMENT, DATED AS OF OCTOBER 29, 2021 (AS AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME), BY AND AMONG UBER TECHNOLOGIES, INC., WILMINGTON SAVINGS FUND SOCIETY, FSB, THE PURCHASERS PARTY THERETO, THE COMPANY AND THE GUARANTOR AND (C) THAT CERTAIN CONSENT AND SUBORDINATION AGREEMENT, DATED AS OF JUNE 4, 2021 (AS AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME), BY AND AMONG THE UBER TECHNOLOGIES, INC. AS THE SENIOR LENDERS, CERTAIN JUNIOR INVESTORS CONSTITUTING "REQUIRED LENDERS" (AS DEFINED IN THE JUNIOR NOTE PURCHASE AGREEMENT (AS DEFINED IN THE NOTE PURCHASE AGREEMENT)) AS SUBORDINATED LENDERS AND THE COMPANY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Section 4 of the Security Agreement is hereby amended to (i) delete the word "and" appearing at the end of clause (q), (ii) to add the word "and" as the last word of clause (r) and to add the following new clause(s):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) to the extent not covered by any of the above, any asset for which any Grantor has grant security interest for the benefits of any Junior Investor, Senior Agent or Senior Lender (in their capacity as such).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) &nbsp;&nbsp;&nbsp;&nbsp;From and after the Effective Date, (i) all references to the Note Purchase Agreement in the Note Purchase Agreement, the Security Agreement, the Guarantee or any Security Document and all references in the Note Purchase Agreement to "this Agreement," "hereunder," "hereof" or words of like import referring to the Note Purchase Agreement, shall, unless expressly provided otherwise, refer to the Note Purchase Agreement as amended by this Agreement, and (ii) all references to the Security Agreement or Guarantee in the Note Purchase Agreement, the Security Agreement, the Guarantee or any Security Document and all references in the Security and Guarantee, as applicable to "this Agreement," "hereunder," "hereof" or words of like import referring to the Security and Guarantee, as applicable, shall, unless expressly provided otherwise, refer to the Security Agreement and Guarantee, as applicable, as amended by this Agreement.

**SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;Waiver.** The Lenders hereby waive any Default or Event of Default that may have occurred prior to the date hereof as a result of the Company's failure to satisfy the requirements of Section 6.1(a), 6.1(b), 6.1(c) or 6.1(e) of the Note Purchase Agreement prior to the date hereof.

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**SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness; Conditions Precedent.** The effectiveness of this Agreement shall be subject to the following conditions precedent (the date all of such conditions are satisfied, the "***Effective Date***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Company and the Lenders of copies of this Agreement duly executed by the Company, the Guarantor and the Specified Lender constituting the Required Lenders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Lenders of the duly executed copies of the New Notes Purchase Agreement and the other Notes Documents (as defined in the New Notes Purchase Agreement); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;no Default or Event of Default shall have occurred and be continuing, after giving effect to this Agreement.

**SECTION 6.&nbsp;&nbsp;&nbsp;&nbsp;Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

**SECTION 7.&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**No Waiver**. Except as expressly set forth in **Sections 2, 3** and **4**, nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Note Purchase Agreement, the Security Agreement, the Guarantee or the Security Documents or constitute a course of conduct or dealing among the parties. Except as amended hereby, the Note Purchase Agreement, the Security Agreement, the Guarantee and the Security Documents remain unmodified and in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed," "signature," and words of like import in this Agreement or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement, the Security Agreement, the Guarantee or the Security Documents, the provisions of this Agreement shall govern and prevail.

*[Remainder of page intentionally left blank]*

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**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

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| | |
|:---|:---|
| **Borrower:** | **Borrower:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By | /s/ Wayne Ting  |
| Name: Wayne Ting | Name: Wayne Ting |
| Title: Chief Executive Officer | Title: Chief Executive Officer |

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| | |
|:---|:---|
| **Guarantor:** | **Guarantor:** |
| **LIME NEUTRON LLC** | **LIME NEUTRON LLC** |
| **By: Neutron Holdings Inc.,** | **By: Neutron Holdings Inc.,** |
| as Managing Member | as Managing Member |
| By | /s/ Wayne Ting  |
| Name: Wayne Ting | Name: Wayne Ting |
| Title: Chief Executive Officer | Title: Chief Executive Officer |

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[Signature Page to Consent, Waiver and Amendment (Uber NPA)]

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| | |
|:---|:---|
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Nelson Chai |
| Name: Nelson Chai | Name: Nelson Chai |
| Title: Chief Financial Officer | Title: Chief Financial Officer |

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[Signature Page to Consent, Waiver and Amendment (Uber NPA)]

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**SECOND AMENDMENT**

This **SECOND AMENDMENT** (this "***Agreement***"), dated as of January 26, 2022 (the "***Effective Date***", is made by and among Neutron Holdings, Inc., a Delaware corporation ("***Company***") and Uber Technologies, Inc. (the "***Specified Lender***"), with respect to the Note Purchase Agreement.

**RECITALS**

**WHEREAS**, the Company and the lenders from time to time party thereto are parties to that certain Note Purchase Agreement, dated as of May 7, 2020 (as amended by that certain Consent, Waiver and Amendment, dated as of October 29, 2021, and as further amended, amended and restated, modified or supplemented from time to time, the "***Note Purchase Agreement***").

**WHEREAS**, the Company entered into that certain Note Purchase Agreement, dated as of October 29, 2021 (as amended, amended and restated, modified or supplemented from time to time, the "***New Note Purchase Agreement***"), with Wilmington Savings Fund Society, FSB, as collateral agent for the Holders (as defined therein) (the "***Collateral Agent***"), and the purchasers party thereto (the "***Purchasers***").

**WHEREAS**, the Company desires that the security provided under the Note Purchase Agreement be identical to the security being granted to the Collateral Agent for the Purchasers under the New Note Purchase Agreement.

**WHEREAS**, the Company has requested that the Specified Lender agree to amend certain provisions of the Note Purchase Agreement to match the similar provisions in the New Note Purchase Agreement.

**WHEREAS**, the Specified Lender, constituting the Required Lenders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

**SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;Definitions; Interpretation.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement.

**SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;Amendments**. The Note Purchase Agreement is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.1(c) of the Note Purchase Agreement is hereby amended by deleting the terms "ninety (90) days" and replacing such terms with the terms "one hundred twenty (120) days".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.1(e) of the Note Purchase Agreement is hereby amended by deleting the terms "ninety (90) days" and replacing such terms with the terms "one hundred twenty (120) days".

**SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

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**SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**No Waiver**. Nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Note Purchase Agreement or constitute a course of conduct or dealing among the parties. Except as amended hereby, the Note Purchase Agreement remain unmodified and in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed," "signature," and words of like import in this Agreement or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement, the provisions of this Agreement shall govern and prevail.

*[Remainder of page intentionally left blank]*

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**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

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| | |
|:---|:---|
| **Borrower:** | **Borrower:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By | /s/ Andrea Ellis  |
| | Name: Andrea Ellis |
| | Title: Chief Financial Officer |

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[Signature Page]

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| | |
|:---|:---|
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Odette Rodrigues |
|  | Name: Odette Rodrigues |
|  | Title: Director, Corporate Development & Capital Markets |

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[Signature Page]

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**SECOND AMENDMENT**

THIS SECOND AMENDMENT, dated as of April 15, 2023 (this "***Agreement***"), is made by and among Neutron Holdings, Inc., a Delaware corporation ("***Borrower***"), and Uber Technologies, Inc. (the "***Specified Lender***"), with respect to the Note Purchase Agreement referred to below.

<u>RECITALS</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower and Specified Lender are parties to that certain Note Purchase Agreement, dated as of May 7, 2020 (as amended by that certain Consent, Waiver, and Amendment, dated as of October 29, 2021, and as further amended and restated, modified or supplemented from time to time, the "***Note Purchase Agreement***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower is party to that certain Credit Agreement, dated as of June 24, 2021 (as amended from time to time, the "***Senior Credit Agreement***"), with Clover Private Credit Opportunities Origination II LP (in such capacity, "***Clover***"; together with any other Person (as defined in the Senior Credit Agreement) that shall have become a party to the Credit Agreement as a lender, collectively, the "***Senior Lender***") and Wilmington Trust, National Association, as administrative agent and collateral agent for the Senior Lender (the "***Senior Agent***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower has requested that the Specified Lender conform certain provisions of the Note Purchase Agreement related to letters of credit to corresponding provisions in the Senior Credit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Specified Lender, constituting the Required Lenders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

**SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;Definitions; Interpretation.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement.

**SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;Amendment.** Section 6.2(a)(vi) of the Note Purchase Agreement is hereby amended and restated in its entirety to:

"(vi) (A) reimbursement obligations in connection with letters of credit that are secured by cash or cash equivalents and issued on behalf of an Obligor or a Subsidiary for real estate purposes in the ordinary course of business in an amount not to exceed $7,000,000 at any time outstanding or (B) reimbursement obligations in connection with letters of credit that are secured by cash or cash equivalents and issued on behalf of an Obligor or a Subsidiary for any other purposes in the ordinary course of business in an amount not to exceed $5,000,000 at any time outstanding."

**SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness; Conditions Precedent.** This Agreement shall be effective upon receipt by the Borrower and the Specified Lender of copies of this Agreement duly executed by the Borrower and the Specified Lender constituting the Required Lenders (such date, the "***Effective Date***").

**SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

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**SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**No Waiver**. Nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Note Purchase Agreement or constitute a course of conduct or dealing among the parties. Except as amended hereby, the Note Purchase Agreement remain unmodified and in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed," "signature," and words of like import in this Agreement or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement, the provisions of this Agreement shall govern and prevail.

*[Remainder of page intentionally left blank]*

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

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| | |
|:---|:---|
| **Borrower:** | **Borrower:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By | /s/ Tom Constantino |
| | &nbsp;&nbsp;&nbsp;Name: Tom Constantino |
| | &nbsp;&nbsp;&nbsp;Title: &nbsp;&nbsp;&nbsp;&nbsp;CFO |

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[Signature Page to Second Amendment]

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| | |
|:---|:---|
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By | /s/ Sarah-Marie Martin |
| | &nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;&nbsp;&nbsp;&nbsp;Sarah-Marie Martin |
| | &nbsp;&nbsp;&nbsp;&nbsp;Title: &nbsp;&nbsp;&nbsp;&nbsp;VP, Corporate Development & Capital Markets |

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[Signature Page to Second Amendment]

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**CONSENT** 

This **CONSENT**, dated as of October 5, 2023 (this "***Agreement***"), is made by and among Neutron Holdings, Inc., a Delaware corporation ("***Borrower***"), and Uber Technologies, Inc. (the "***Specified Lender***"), with respect to the Note Purchase Agreement and the Security Agreement referred to below.

**RECITALS**

**WHEREAS**, the Borrower and the Specified Lender are parties to that certain (i) Note Purchase Agreement, dated as of May 7, 2020 (as amended, amended and restated, modified or supplemented from time to time, the "***Note Purchase Agreement***") and (ii) Security Agreement, together with Lime Neutron LLC, dated as of May 7, 2020 (as amended, amended and restated, modified or supplemented from time to time, the "***Security Agreement***").

**WHEREAS**, the Borrower desires to enter into that certain Credit Agreement, dated as of the date hereof (as amended, amended and restated, modified or supplemented from time to time, the "***Senior Credit Agreement***"), and the Persons party thereto as Lender (together with any other Person that shall have become a party to such agreement as a Lender, collectively, the "***Senior Lenders***"), Alter Domus (US), LLC, in its capacity as initial administrative agent for the Senior Lenders (together with its successors and assigns, the "***Senior Administrative*** Agent"), Diameter Finance Administration LLC, in its capacity as collateral agent for the Senior Lenders (together with its successors and assigns, the "***Senior Collateral Agent***" and collectively with the Senior Administrative Agent, the "***Senior Agents***") the Senior Agents, together with the Senior Lenders and the other secured parties under the Senior Credit Agreement are hereinafter referred to as the "***Senior Parties***".

WHEREAS, Section 6.2(a) of the Note Purchase Agreement restricts the incurrence of Debt, other than Debt permitted by Section 6.2(a) of the Note Purchase Agreement and Section 6.2(b) of the Note Purchase Agreement restricts the incurrence of any Liens on any Assets, except for Permitted Liens.

**WHEREAS**, the Borrower has requested that the Specified Lender consents to (x) the Borrower's execution of the Senior Credit Agreement, and (y) the incurrence of the Debt and Liens on the Assets in favor of the Senior Agent for the benefit of the Senior Lender to secure the Senior Credit Agreement and the Loan Documents (as defined in the Senior Credit Agreement).

WHEREAS, the Specified Lender, constituting the Required Lenders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

**SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;Definitions; Interpretation.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement or the Security Agreement, as context dictates.

**SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;Consent**. Subject to the satisfaction of the conditions precedent set forth in Section 3 hereof, as of the Effective Date (as defined below), notwithstanding anything to the contrary in the Senior Credit Agreement, the Security Agreement or any other Loan Documents the Specified Lender hereby consents to the incurrence by the Borrower of (x) the Debt under the Senior Credit Agreement (including increases in the aggregate amount of such indebtedness after the date hereof) and (y) Liens on any assets or property of the Obligors securing indebtedness under the Senior Credit Agreement and the Loan Documents (as defined in the Senior Credit Agreement), and (z) the filing of financing statements with

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respect to the Liens securing indebtedness under the Senior Credit Agreement and the Loan Documents (as defined in the Senior Credit Agreement).

**SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness; Conditions Precedent.** The effectiveness of this Agreement shall be subject to the following conditions precedent (the date all of such conditions are satisfied, the "***Effective Date***"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Borrower and the Specified Lender of copies of this Agreement duly executed by the Borrower and the Specified Lender constituting the Required Lenders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Specified Lender of the duly executed copies of the Senior Credit Agreement and the other Loan Documents (as defined in the Senior Credit Agreement).

**SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

**SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**No Waiver**. Except as expressly set forth in **Section 2,** nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Note Purchase Agreement or the Security Agreement or constitute a course of conduct or dealing among the parties. Except as amended hereby, the Note Purchase Agreement and the Security Agreement remain unmodified and in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed," "signature," and words of like import in this Agreement or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement or the Security Agreement, the provisions of this Agreement shall govern and prevail.

*[Remainder of page intentionally left blank]*

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**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

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| | |
|:---|:---|
| **Borrower:** | **Borrower:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By | /s/ Wayne Ting  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Wayne Ting | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Wayne Ting |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Executive Officer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Executive Officer |

---

[Signature Page to Consent and Waiver – Uber NPA]

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---

| | |
|:---|:---|
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By | /s/ Dara Khosrowshahi |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Dara Khosrowshahi | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Dara Khosrowshahi |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Executive Officer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Executive Officer |

---

[Signature Page to Consent and Waiver – Uber NPA]

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**THIRD AMENDMENT**

THIS THIRD AMENDMENT, dated as of August 28, 2024 (this "***Agreement***"), is made by and among Neutron Holdings, Inc., a Delaware corporation ("***Borrower***"), and Uber Technologies, Inc. (the "***Specified Lender***"), with respect to the Note Purchase Agreement referred to below.

<u>RECITALS</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower and Specified Lender are parties to that certain Note Purchase Agreement, dated as of May 7, 2020 (as amended by that certain Consent, Waiver, and Amendment, dated as of October 29, 2021, as further amended by that certain Second Amendment, dated as of April 15, 2023, and as further amended and restated, modified or supplemented from time to time, the "***Note Purchase Agreement***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower is party to that certain Credit Agreement, dated as of October 5, 2023 (as amended from time to time, the "***Senior Credit Agreement***"), with the persons party thereto as lenders (together with all other lenders under the Senior Credit Agreement, the "***Lenders***"), Alter Domus (US) LLC, in its capacity as initial administrative agent (in such capacity, together with any successors and assigns, the "***Administrative Agent***"), and Diameter Finance Administration LLC, in its capacity as collateral agent for the Lenders (in such capacity, together with any successors and assigns, the "***Collateral Agent***" and, together with the Administrative Agent, collectively the "***Senior Agent***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower has requested that the Specified Lender conform certain provisions of the Note Purchase Agreement related to existing indebtedness and letters of credit to corresponding provisions in the Senior Credit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Specified Lender, constituting the Required Lenders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

**SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;Definitions; Interpretation.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement.

**SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;Amendment.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.2(a)(i) of the Note Purchase Agreement is hereby amended and restated in its entirety to:

"(i) the Obligations, the Senior Debt and Debt existing on the closing date of the Senior Credit Agreement which is disclosed in Schedule 1A to the Senior Credit Agreement;"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.2(a)(vi) of the Note Purchase Agreement is hereby amended and restated in its entirety to:

"(vi) (A) reimbursement obligations in connection with letters of credit that are secured by cash or cash equivalents and issued on behalf of an Obligor or a Subsidiary for real estate purposes in the ordinary course of business in an amount not to exceed $21,000,000 at any time outstanding or (B)

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reimbursement obligations in connection with letters of credit that are secured by cash or cash equivalents and issued on behalf of an Obligor or a Subsidiary for any other purposes in the ordinary course of business in an amount not to exceed $75,000,000 at any time outstanding."

**SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness; Conditions Precedent.** This Agreement shall be effective upon receipt by the Borrower and the Specified Lender of copies of this Agreement duly executed by the Borrower and the Specified Lender constituting the Required Lenders (such date, the "***Effective Date***").

**SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

**SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**No Waiver**. Nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Note Purchase Agreement or constitute a course of conduct or dealing among the parties. Except as amended hereby, the Note Purchase Agreement remain unmodified and in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed," "signature," and words of like import in this Agreement or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement, the provisions of this Agreement shall govern and prevail.

*[Remainder of page intentionally left blank]*

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

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| | |
|:---|:---|
| **Borrower:** | **Borrower:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By | /s/ Ann Gugino  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Ann Gugino | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Ann Gugino |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: CFO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: CFO |

---

[Signature Page to Third Amendment]

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| | |
|:---|:---|
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By | /s/ Madhu Kannan |
| | Name: Madhu Kannan |
| | Title: VP, Corporate Development |

---

[Signature Page to Third Amendment]

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**FOURTH AMENDMENT**

THIS FOURTH AMENDMENT, dated as of October 6, 2025 (this "***Agreement***"), is made by and among Neutron Holdings, Inc., a Delaware corporation ("***Borrower***"), and Uber Technologies, Inc. (the "***Specified Lender***"), with respect to the Note Purchase Agreement referred to below.

<u>RECITALS</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower and Specified Lender are parties to that certain Note Purchase Agreement, dated as of May 7, 2020 (as amended by that certain Consent, Waiver, and Amendment, dated as of October 29, 2021, as further amended by that certain Second Amendment, dated as of April 15, 2023, as further amended by that certain Third Amendment, dated as of August 28, 2024, and as further amended and restated, modified or supplemented from time to time, the "***Note Purchase Agreement***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower is party to that certain Credit Agreement, dated as of October 5, 2023 (as amended from time to time, the "***Senior Credit Agreement***"), with the persons party thereto as lenders (together with all other lenders under the Senior Credit Agreement, the "***Lenders***"), Alter Domus (US) LLC, in its capacity as initial administrative agent (in such capacity, together with any successors and assigns, the "***Administrative Agent***"), and Diameter Finance Administration LLC, in its capacity as collateral agent for the Lenders (in such capacity, together with any successors and assigns, the "***Collateral Agent***" and, together with the Administrative Agent, collectively the "***Senior Agent***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower has requested that the Specified Lender conform certain provisions of the Note Purchase Agreement related to existing indebtedness and letters of credit to corresponding provisions in the Senior Credit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Specified Lender, constituting the Required Lenders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

**SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;Definitions; Interpretation.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement.

**SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;Amendment**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Section 1 of the Note Purchase Agreement is hereby amended by adding the following term in alphabetical order:

""<u>Swap Contract</u>" means (a) any and all rate swap transactions, forward rate transactions, commodity swaps, forward commodity contracts, forward foreign exchange transactions, currency swap transactions, cross-currency rate swap transactions, spot contracts, or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any other similar transactions or any combination of 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 (any such master agreement, together with any related schedules, a "<u>Master Agreement</u>"), including any such obligations or liabilities under any Master Agreement, in each case for the purpose of hedging the foreign currency, interest rate or commodity risk associated with the operations. Notwithstanding the foregoing, Swap Contract shall not include any equity swaps, options or forwards to which the Company or any Subsidiary is party that are classified and accounted for in the Company's stockholders' equity under GAAP."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The definition of Permitted Dispositions in Section 1 of the Note Purchase Agreement is hereby amended and restated to add "(xii) the unwinding of any Swap Contract in accordance with its terms" as follows:

""<u>Permitted Dispositions</u>" means (i) the disposition of inventory in the ordinary course of business, (ii) the disposition of worn-out, surplus or obsolete equipment that is, in the reasonable judgment of the Obligors, no longer economically practicable to maintain or useful in the ordinary course of business, (iii) sales and issuance of the Capital Stock of the Company, (iv) the use of cash and cash equivalents in the ordinary course of business for the payment of ordinary course business expenses in a manner that is not prohibited by the terms of this Agreement or the other Note Documents, (iv) leases, subleases and licenses in the ordinary course of business, (v) Permitted Liens and investments and acquisitions, (vi) dispositions of equipment to the extent such property is exchanged for credit against the purchase price or similar replacement property, (vii) dissolution or winding down of Subsidiaries that are not Obligors so long as the assets of such Subsidiary are transferred to the Company or another Subsidiary; (viii) dispositions from and after the Closing Date of non-core assets or assets not necessary or useful in the business of the Company or any Subsidiary (including real property) acquired in connection with any acquisition or investment, (ix) retail sales of new scooters; (x) sales used or decommissioned scooters in the ordinary course of business; (xi) dispositions of assets not otherwise permitted hereunder not to exceed $5,500,000 in the aggregate in any fiscal year; and (xii) the unwinding of any Swap Contract in accordance with its terms."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The following clause is added to Section 6.2(a) of the Note Purchase Agreement:

"(xvii)&nbsp;&nbsp;&nbsp;&nbsp;Debt incurred under any Swap Contracts entered into in the ordinary course of business, and not for speculative purposes, to protect against changes in interest rates or foreign exchange rates."

**SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness; Conditions Precedent.** This Agreement shall be effective upon receipt by the Borrower and the Specified Lender of copies of this Agreement duly executed by the Borrower and the Specified Lender constituting the Required Lenders (such date, the "***Effective Date***").

**SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

**SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**No Waiver**. Nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Note Purchase Agreement or constitute a course of conduct or dealing among the parties. Except as amended hereby, the Note Purchase Agreement remain unmodified and in full force and effect.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed," "signature," and words of like import in this Agreement or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement, the provisions of this Agreement shall govern and prevail.

*[Remainder of page intentionally left blank]*

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

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| | |
|:---|:---|
| **Borrower:** | **Borrower:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By | /s/ Ann Gugino  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Ann Gugino | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Ann Gugino |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: CFO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: CFO |

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[Signature Page to Fourth Amendment]

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| | |
|:---|:---|
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By | /s/ Madhu Kannan |
| | Name: Madhu Kannan |
| | Title: Chief Business Officer |

---

[Signature Page to Fourth Amendment]

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**FIFTH AMENDMENT**

THIS FIFTH AMENDMENT, dated as of March 13, 2026 (this "***Agreement***"), is made by and among Neutron Holdings, Inc., a Delaware corporation ("***Borrower***"), and Uber Technologies, Inc. (the "***Specified Lender***"), with respect to the Note Purchase Agreement referred to below.

<u>RECITALS</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower and Specified Lender are parties to that certain Note Purchase Agreement, dated as of May 7, 2020 (as amended by that certain Consent, Waiver, and Amendment, dated as of October 29, 2021, as further amended by that certain Second Amendment, dated as of April 15, 2023, as further amended by that certain Third Amendment, dated as of August 28, 2024, as further amended by that certain Fourth Amendment, dated as of October 6, 2025 and as further amended and restated, modified or supplemented from time to time, the "***Note Purchase Agreement***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower is party to that certain Credit Agreement, dated as of October 5, 2023 (as amended from time to time, the "***Senior Credit Agreement***"), with the persons party thereto as lenders (together with all other lenders under the Senior Credit Agreement, the "***Lenders***"), Alter Domus (US) LLC, in its capacity as initial administrative agent (in such capacity, together with any successors and assigns, the "***Administrative Agent***"), and Diameter Finance Administration LLC, in its capacity as collateral agent for the Lenders (in such capacity, together with any successors and assigns, the "***Collateral Agent***" and, together with the Administrative Agent, collectively the "***Senior Agent***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower has requested that the Specified Lender conform certain provisions of the Note Purchase Agreement related to letters of credit and guarantees to corresponding provisions in the Senior Credit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Specified Lender, constituting the Required Lenders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

**SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;Definitions; Interpretation.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement.

**SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;Amendment.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.2(a)(vi) of the Note Purchase Agreement is hereby amended and restated in its entirety to:

"(vi) (A) reimbursement obligations in connection with letters of credit that are secured by cash

or cash equivalents and issued on behalf of an Obligor or a Subsidiary for real estate purposes in the ordinary course of business in an amount not to exceed $21,000,000 at any time outstanding or (B) reimbursement obligations in connection with letters of credit that are secured by cash or cash equivalents and issued on behalf of an Obligor or a Subsidiary for any other purposes in the ordinary course of business in an amount not to exceed $125,000,000 at any time outstanding."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The following clause is added to Section 6.2(a) of the Note Purchase Agreement:

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"(xviii)&nbsp;&nbsp;&nbsp;&nbsp;Debt arising under guarantees and similar instruments issued by the Company or any of its Subsidiaries (including guarantees issued by the Company in respect of the obligations of any of its Subsidiaries) in connection with any request for proposals, tenders, concessions, licenses, permits, franchises, contracts for goods, services or equipment, or other business operations, entered into with cities, municipalities, or any other Governmental Authority with whom the Company or any its Subsidiaries conducts or intends to conduct business, including all obligations, liabilities and indemnities arising thereunder, and not in connection with any Indebtedness for borrowed money."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The following clause is added to the end of Section 6.2(d) of the Note Purchase Agreement:

"Notwithstanding the foregoing, in connection with the settlement of indebtedness represented by the promissory notes listed on Schedule 1B of the Senior Credit Agreement, equity interests of the Company may be repurchased or otherwise taken possession of by the Company, including through netting arrangements, so long as no default known to the Company or Event of Default shall have occurred or be continuing."

**SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness; Conditions Precedent.** This Agreement shall be effective upon receipt by the Borrower and the Specified Lender of copies of this Agreement duly executed by the Borrower and the Specified Lender constituting the Required Lenders (such date, the "***Effective Date***").

**SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

**SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**No Waiver**. Nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Note Purchase Agreement or constitute a course of conduct or dealing among the parties. Except as amended hereby, the Note Purchase Agreement remain unmodified and in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed," "signature," and words of like import in this Agreement or in any amendment or other modification

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hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement, the provisions of this Agreement shall govern and prevail.

*[Remainder of page intentionally left blank]*

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

---

| | |
|:---|:---|
| **Borrower:** | **Borrower:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By | /s/ Ann Gugino  |
| | Name: Ann Gugino |
| | Title: Chief Financial Officer |

---

[Signature Page to Fifth Amendment]

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---

| | |
|:---|:---|
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By | /s/ Odette Rodrigues |
| | Name: Odette Rodrigues |
| | Title: Vice President, Corporate Finance, Capital<br>Markets and Treasury |

---

[Signature Page to Fifth Amendment]

## Exhibit 4.4

**Exhibit 4.4**

THIS AGREEMENT IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT, DATED AS OF MAY 7, 2020 (AS AMENDED, RESTATED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE "<u>UBER SUBORDINATION</u> <u>AGREEMENT</u>"), BY AND AMONG UBER TECHNOLOGIES, INC. AS THE SENIOR LENDER, THE OTHER CREDITORS PARTY THERETO AS THE SUBORDINATED LENDERS AND NEUTRON HOLDINGS, INC.

THIS AGREEMENT IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT, DATED AS OF MAY 7, 2020 (AS AMENDED, RESTATED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE "<u>BMO SUBORDINATION</u> <u>AGREEMENT</u>"), BY AND AMONG THE BANK OF MONTREAL AS THE SENIOR LENDER, THE OTHER CREDITORS PARTY THERETO AS THE SUBORDINATED LENDERS AND NEUTRON HOLDINGS, INC.

**NOTE AND WARRANT PURCHASE AGREEMENT**

THIS NOTE AND WARRANT PURCHASE AGREEMENT ("<u>Agreement</u>") is made as of May 7, 2020, by and among **Neutron Holdings, Inc.**, a Delaware corporation (the "<u>Company</u>"), and the lenders (each individually a "<u>Lender</u>," and collectively the "<u>Lenders</u>") named on the Schedule of Lenders attached hereto (the "<u>Schedule of Lenders</u>"). Capitalized terms not otherwise defined in this Agreement shall have the meanings ascribed to them in Section 1 below.

**WHEREAS**, each Lender intends to provide certain Consideration to the Company as described for each Lender on the Schedule of Lenders;

**WHEREAS**, the parties wish to provide for the sale and issuance of such Notes and Warrants in return for the provision by the Lenders of the Consideration to the Company; and

**WHEREAS**, the parties intend for the Company to issue in return for the Consideration one or more Notes and Warrants to purchase shares of the Company's Equity Securities.

**NOW, THEREFORE, THE PARTIES HEREBY AGREE 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Consideration</u>" shall mean the amount of money paid by each Lender pursuant to this Agreement as shown on the Schedule of Lenders.

&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>Conversion Shares</u>" shall, for purposes of determining the type of Equity Securities issuable upon conversion of the Notes, mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Notes are converted to equity pursuant to Section 2.2(a) below, Series 2 Preferred Stock of the Company; 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;if the Notes are converted to equity pursuant to Section 2.2(b) below, shares of 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Conversion Price</u>" shall mean the quotient of (1) the Valuation Cap divided by (2) the fully-diluted capitalization of the Company as of 90 days following the initial Closing (assuming conversion, exercise, and exchange of all convertible, exercisable, and exchangeable capital stock of the

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Company, including shares available for issuance under any equity incentive or similar plan and the shares to be issued upon conversion of the Notes) (the "<u>Fully Diluted Capitalization</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;(d)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Corporate Transaction</u>" shall mean any transaction defined as a "Deemed Liquidation Event" in the Company's current Ninth Amended and Restated Certificate of Incorporation on file with the Secretary of State 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Equity Securities</u>" shall mean the Company's Common Stock or Preferred Stock or any securities conferring the right to purchase the Company's Common Stock or Preferred Stock or securities convertible into, or exchangeable for (with or without additional consideration), the Company's Common Stock or Preferred Stock, except any security granted, issued and/or sold by the Company to any director, officer, employee or consultant of the Company in such capacity for the primary purpose of soliciting or retaining their services.

&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;"<u>Initial Public Offering</u>" or "<u>IPO</u>" shall mean the closing of the issuance and sale of shares of Equity Securities of the Company in the Company's first underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "<u>Act</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;(g)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Majority Note Holders</u>" shall mean the holders of a majority in interest of the aggregate principal amount of Notes.

&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;"<u>Maturity Date</u>" shall be as set forth in each Note (as defined 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Notes</u>" shall mean the one or more promissory notes issued to each Lender pursuant to Section 2.1 below, the form of which is attached hereto as <u>Exhibit A</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;(j)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Uber</u>" will mean Uber Technologies, Inc.

&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;"<u>Valuation Cap</u>" means the sum of (1) $340,000,000 plus (2) the aggregate Consideration under this Agreement plus (3) the aggregate amount paid by Uber pursuant to that certain Note Purchase Agreement, by and between the Company and Uber, dated as of the date 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;(l)&nbsp;&nbsp;&nbsp;&nbsp; "<u>Warrants</u>" shall mean one or more warrants issued pursuant to Section 3 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;(m)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Warrant Coverage Amount</u>" shall mean, with respect to any particular Warrant issued to a Lender, ten percent (10%) of the principal amount of the Note issued to such Lender in conjunction with such Warrant, such principal amount not to exceed such Lender's Note Allocation (as defined in the exchange agreement in the form attached hereto as <u>Exhibit C</u> (the "<u>Exchange</u> <u>Agreement</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;(n)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Warrant Exercise Price</u>" shall mean $0.01 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amount and Terms of the Notes</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>Issuance of Secured Notes</u>. In return for the Consideration paid by each Lender, the Company shall sell and issue to such Lender one or more secured Notes. Each Note shall have a principal balance equal to that portion of the Consideration paid by such Lender for the Note, as set forth in the Schedule of Lenders. Each Note shall be convertible into Conversion Shares pursuant to Section 2.2 below and shall be secured by the assets of the Company as described in such Notes and any related security 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;2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Right to Convert Notes</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>Optional Conversion</u>. The principal of any Note (the "<u>Conversion Balance</u>"), may be converted, at the option of the holder thereof, into Conversion Shares. The number of Conversion Shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the Conversion Balance on a Note to be converted on the date of conversion by the Conversion Price. Accrued interest on any Note (the "<u>Interest Balance</u>") may be converted into shares of Common Stock or paid in cash, at the option of the Company. If the Company elects to convert all or any portion of the Interest Balance into shares of Common Stock, the number of shares of Common Stock to be issued upon such conversion shall be equal to the quotient obtained by dividing the portion of the Interest Balance converted by the fair market value of a share of Common Stock on the date of conversion, as determined in good faith by the Board of Directors 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;<u>Corporate Transaction or IPO</u>. In the event of a Corporate Transaction or Initial Public Offering prior to full payment of a Note or prior to the time when a Note may be converted (as provided herein), all outstanding principal and unpaid accrued interest due on such Note shall, at Lender's election, be (i) due and payable in full prior to the closing of the Corporate Transaction or Initial Public Offering or (ii) be converted into Conversion Shares at the 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>No Fractional Shares</u>. Upon the conversion of a Note into Conversion Shares, in lieu of any fractional shares to which the holder of the Note would otherwise be entitled, the Company shall pay the Note holder cash equal to such fraction multiplied by the 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Mechanics of Conversion</u>. Before any Note holder shall be entitled to convert the same into Conversion Shares, such holder shall give written notice to the Company of the election to convert such Notes into Conversion Shares. The Company shall not be required to issue or deliver the Conversion Shares until the Note holder has surrendered the Note to the Company. Such conversion may be made contingent upon the closing of the Initial Public Offering or Corporate Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Warrants</u>. Upon the Closing (as defined in Section 4.1 below), and in return for the Company's receipt of the principal amount of the Notes, certain Lenders shall receive a warrant to purchase shares of the Company's Common Stock in the form attached hereto as <u>Exhibit B</u> (the "<u>Warrant</u>"). Lenders will receive a Warrant only if (a) such Lender is an existing stockholder of the Company, (b) the Closing of the Lenders' Note occurs within 20 business days of the initial Closing. Each Warrant shall be exercisable for that number of shares (the "<u>Warrant Shares</u>") of Common Stock determined by dividing (i) the Warrant Coverage Amount by (ii) the Valuation Cap divided by the Fully Diluted Capitalization. The exercise price for the Warrant Shares purchasable upon exercise of the Warrants shall be equal to the Warrant Exercise Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Closing Mechanics</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>Closing</u>. The initial closing (the "<u>Closing</u>") of the purchase of the Notes and issuance of the Warrants in return for the Consideration paid by each Lender shall take place remotely via the exchange of signatures on the date hereof, or at such other time and place as the Company and Lenders purchasing a majority in interest of the aggregate principal amount of the Notes to be sold at the Closing agree upon orally or in writing. At the Closing, each Lender shall deliver the Consideration to the Company and the Company shall deliver to each Lender one or more executed Notes and Warrants in return for the respective Consideration provided 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;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Subsequent Closings</u>. In any subsequent closing (each a "<u>Subsequent Closing</u>"), the Company may sell additional Notes and Warrants subject to the terms of this Agreement to any Lender as it shall select, <u>provided</u> that (a) such sale shall not take place later than 90 days after the initial Closing, (b) the aggregate amount of Consideration does not exceed $85,000,000. Any subsequent purchasers of Notes and Warrants shall become a party to, and shall be entitled to receive Notes and Warrants in accordance with this Agreement. Each Subsequent Closing shall take place at such locations and at such times as shall be mutually agreed upon orally or in writing by the Company and such purchasers of additional Notes and Warrants.

&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>Exchange</u>. In the event an existing holder of shares of Common Stock of the Company issued upon conversion of shares of preferred stock of the Company (a "<u>Existing Preferred</u> <u>Holder</u>") purchases a Note, such Existing Preferred Holder may enter into an agreement with the Company exchanging certain shares of the Existing Preferred Holder's Common Stock of the Company for shares of Series 1 Stock of the Company (as defined in the Ninth Amended and Restated Certificate of Incorporation on file with the Secretary of State of the State of Delaware), on the terms set forth in the Exchange Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties of the Company</u>. In connection with the transactions provided for herein, the Company hereby represents and warrants to the Lenders 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;5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Organization, Good Standing and Qualification</u>. 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 now conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a material adverse effect on its business or properties.

&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>Authorization</u>. Except for the authorization and issuance of the shares issuable in connection with any Corporate Transaction or Initial Public Offering, all corporate action has been taken on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Agreement and the Notes and the Warrants. Except as may be limited by applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors' rights, the Company has taken all corporate action required to make all of the obligations of the Company reflected in the provisions of this Agreement, the Notes and the Warrants, the valid and enforceable obligations they purport to be. Except as otherwise indicated in this Section 5.2, the issuance of the Notes, or their subsequent conversion into Conversion Shares, will not be subject to the preemptive rights of any stockholder of the Company. The Company has authorized sufficient shares of Series 3 Preferred Stock, Series 2 Preferred Stock, and Common Stock to allow for conversion of the Notes and exercise of the Warrants as described in Section 2.2 and 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;5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Other Instruments</u>. Neither the authorization, execution and delivery of this Agreement, nor the issuance and delivery of the Notes and the Warrants will constitute or result in a material default or violation of any law or regulation applicable to the Company or any material term or provision of the Company's current Certificate of Incorporation or bylaws or any material agreement or instrument by which it is bound or to which its properties or assets are subject.

&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>Valid Issuance of Common Stock and Preferred Stock.</u> The Warrant Shares to be issued, sold and delivered in accordance with the terms of the Warrants will be duly authorized and validly issued, fully paid and nonassessable and, based in part upon the representations and warranties of the Lenders in this Agreement, will be issued in compliance with all applicable federal and state securities

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laws. The Conversion Shares to be issued, sold and delivered upon conversion of the Notes will be duly and validly issued, fully paid and nonassessable and, based in part upon the representations and warranties of the Lenders in this Agreement, will be issued in compliance with all applicable federal and state 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;5.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Reliance on other Representations and Warranties.</u> The Lenders will be entitled to rely on the representations and warranties made to Uber pursuant to that certain Note Purchase Agreement by and between the Company and Uber dated on or around the date hereof (the "<u>Uber NPA</u>") as if the Lenders were a party to such agreement, <u>provided</u> <u>however</u>, that any such reliance is limited solely to the representations and warranties made in Section 4 of the Uber NPA, and no other portion of the Uber NPA, and waiver of breach of such representations and warranties by Uber will be effective and binding as a waiver by all parties, including the Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties of the Lenders</u>. In connection with the transactions provided for herein, each Lender hereby represents and warrants to the Company 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;6.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Authorization</u>. This Agreement constitutes such Lender's valid and legally binding obligation, enforceable in accordance with its terms, except as may be limited by (i) applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors' rights and (ii) laws relating to the availability of specific performance, injunctive relief or other equitable remedies. Each Lender represents that it has full power and authority to enter into 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;6.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Purchase Entirely for Own Account</u>. Each Lender acknowledges that this Agreement is made with Lender in reliance upon such Lender's representation to the Company that the Notes, the Warrants, the Conversion Shares, and any Common Stock issuable upon conversion of the Conversion Shares (collectively, the "<u>Securities</u>") will be acquired for investment for Lender'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 such Lender has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Agreement, each Lender further represents that such Lender does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to the 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;6.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclosure of Information</u>. Each Lender acknowledges that it has received all the information it considers necessary or appropriate for deciding whether to acquire the Securities. Each Lender further represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the 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;6.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Investment Experience</u>. Each Lender is an investor in securities of companies in the development stage and acknowledges that it is able to fend for itself, can bear the economic risk of its investment and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Securities. If other than an individual, each Lender also represents it has not been organized solely for the purpose of acquiring the 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;6.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Accredited Investor.</u> Each Lender is an "accredited investor" within the meaning of Rule 501 of Regulation D of the Securities and Exchange Commission (the "<u>SEC</u>"), as presently in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Restricted Securities.</u> Each Lender understands that the Securities are characterized as "restricted securities" under the federal securities laws inasmuch as they are being

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acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act only in certain limited circumstances. Each Lender represents that it is familiar with SEC Rule 144, as presently in effect, and understands the resale limitations imposed thereby and by 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;6.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Further Limitations on Disposition</u>. Without in any way limiting the representations and warranties set forth above, each Lender further agrees not to make any disposition of all or any portion of the Securities unless and until the transferee has agreed in writing for the benefit of the Company to be bound by this Section 6, Section 9.11 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with such registration statement; 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;(i) Lender has notified the Company of the proposed disposition and has furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition and (ii) if reasonably requested by the Company, Lender shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration of such shares under the Act. It is agreed that the Company will not require opinions of counsel for transactions made pursuant to Rule 144 except in extraordinary 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;6.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Legends</u>. It is understood that the Securities may bear the following legend:

"THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SUCH ACT."

"THIS NOTE IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT, DATED AS OF MAY 7, 2020 (AS AMENDED, RESTATED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE "<u>SUBORDINATION AGREEMENT</u>"), BY AND AMONG UBER TECHNOLOGIES, INC. AS THE SENIOR LENDER, THE OTHER CREDITORS PARTY THERETO AS THE SUBORDINATED LENDERS AND NEUTRON HOLDINGS, INC."

"THIS NOTE IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT, DATED AS OF MAY 7, 2020 (AS AMENDED, RESTATED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE "<u>SUBORDINATION AGREEMENT</u>"), BY AND AMONG THE BANK OF MONTREAL AS THE SENIOR LENDER, THE OTHER CREDITORS PARTY THERETO AS THE SUBORDINATED LENDERS AND NEUTRON HOLDINGS, INC."

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;<u>State Commissioners of Corporations</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>California Corporate Securities Law</u>. THE SALE OF THE SECURITIES WHICH ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION FOR SUCH SECURITIES PRIOR TO SUCH QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM QUALIFICATION BY SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Defaults and Remedies</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>Events of Default</u>. The following events shall be considered "Events of Default" with respect to each Note:

&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 default in the payment of any part of the principal or unpaid accrued interest on the Note for more than thirty (30) days after the Maturity Date or at a date fixed by acceleration 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due, or shall file a voluntary petition for bankruptcy, or shall file any petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, dissolution or similar relief under any present or future statute, law or regulation, or shall file any answer admitting the material allegations of a petition filed against the Company in any such proceeding, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of the Company, or of all or any substantial part of the properties of the Company, or the Company or its respective directors or majority stockholders shall take any action looking to the dissolution or liquidation 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;Within thirty (30) days after the commencement of any proceeding against the Company seeking any bankruptcy reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed, or within thirty (30) days after the appointment without the consent or acquiescence of the Company of any trustee, receiver or liquidator of the Company or of all or any substantial part of the properties of the Company, such appointment shall not have been vacated;

&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 default or defined event of default that has not otherwise been cured or forgiven shall occur under any agreement to which the Company or any of its subsidiaries is a party that evidences indebtedness of $10,000,000 or more; 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;The Company shall fail to observe or perform any other obligation to be observed or performed by it under this Agreement, the Notes, the Warrants or the Security Agreement within 30 days after written notice from the Majority Note Holders to perform or observe the 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;8.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies</u>. Upon the occurrence of an Event of Default under Section 8.1 hereof, at the option and upon the declaration of the holder of a Note, the entire unpaid principal and accrued and unpaid interest on such Note shall, without presentment, demand, protest, or notice of any kind, all of which are hereby expressly waived, be forthwith due and payable, and such holder may, immediately and

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without expiration of any period of grace, enforce payment of all amounts due and owing under such Note and exercise any and all other remedies granted to it at law, in equity or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;<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;9.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns</u>. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties, <u>provided</u>, <u>however</u>, that the Company may not assign its obligations under this Agreement without the written consent of the Majority Note Holders. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided 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>Governing Law</u>. This Agreement, the Notes and the Warrants shall be governed by and construed under the laws of the State of California as applied to agreements among California residents, made and to be performed entirely within the State of California.

&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>Counterparts</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.

&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>Titles and Subtitles</u>. The titles and subtitles used in this Agreement are used 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;9.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not so confirmed, then on the next business day, (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective parties at the following addresses (or at such other addresses as shall be specified by notice given in accordance with this Section 9.5):

If to the Company:

**Neutron Holdings, Inc.**

85 2<sup>nd</sup> Street

San Francisco, CA 94105

Attention: Legal Department

If to Lenders:

At the respective addresses shown on the signature pages hereto.

&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>Finder's Fee</u>. Each party represents that it neither is nor will be obligated for any finder's fee or commission in connection with this transaction. Lender agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which Lender or any of its officers, partners, employees or representatives is responsible. The Company agrees to indemnify and hold harmless Lender from any liability for any commission or compensation in the nature

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of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

&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>Expenses</u>. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys' fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. The Company shall pay all costs and expenses that it incurs with respect to the negotiation, execution, delivery and performance 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;9.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement; Amendments and Waivers</u>. This Agreement and the Notes and the Warrants and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof. The Company's agreements with each of the Lenders are separate agreements, and the sales of the Notes and the Warrants to each of the Lenders are separate sales. Nonetheless, any term of this Agreement, the Notes or the Warrants may be amended and the observance of any term of this Agreement, the Notes or the Warrants may be waived (either generally or in a particular instance and either retroactively or prospectively), with the written consent of the Company and the Majority Note Holders, <u>provided</u> <u>however</u>, that any change to the terms of conversion of the Notes (including without limitation, the definitions of Conversion Price or Valuation Cap) will also require the consent of Uber. Any waiver or amendment effected in accordance with this Section shall be binding upon each party to this Agreement and any holder of any Note or Warrant purchased under this Agreement at the time outstanding and each future holder of all such Notes or Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Amendment or Waiver</u>. Each Lender acknowledges that by the operation of Section 9.8 hereof, the Majority Note Holders will have the right and power to diminish or eliminate all rights of such Lender under this Agreement and each Note and Warrant issued to such Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision 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;9.11&nbsp;&nbsp;&nbsp;&nbsp;"<u>Market Stand-Off" Agreement</u>. Each Lender hereby agrees that it will be bound by Section 2.11 of that certain Amended and Restated Investors' Rights Agreement by and among the Company, the Lenders, and certain other investors, dated on or around the date hereof, as amended from time-to-time (the "<u>Investors' Rights Agreement</u>"), and agrees that a legend reading substantially as set forth in Section 2.12(b) of the Investors Rights Agreement will be placed on all certificates representing all Conversion Shares of each Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Purchase Agreement</u>. Each Lender understands and agrees that the conversion of the Notes into and exercise of the Warrants for Conversion Shares may require such Lender's execution of certain agreements (in form reasonably agreeable to the Lender) relating to the purchase and sale of such 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;9.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Exculpation Among Lenders</u>. Each Lender acknowledges that it is not relying upon any person, firm, corporation or stockholder, other than the Company and its officers and directors in their capacities as such, in making its investment or decision to invest in the Company. Each Lender agrees that no other Lender nor the respective controlling persons, officers, directors, partners, agents,

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stockholders or employees of any other Lender shall be liable for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase and sale of the 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;9.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement</u>. In order to avoid doubt, it is acknowledged that each Lender shall be entitled to the benefit of all adjustments in the number of shares of Common Stock of the Company issuable upon conversion of the Preferred Stock of the Company or as a result of any splits, recapitalizations, combinations or other similar transaction affecting the Common Stock or Preferred Stock underlying the Conversion Shares that occur prior to the conversion of the Notes or exercise of the Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Further Assurance</u>. From time to time, the Company shall execute and deliver to the Lenders such additional documents and shall provide such additional information to the Lenders as any Lender may reasonably require to carry out the terms of this Agreement and the Notes and any agreements executed in connection herewith or therewith, or to be informed of the financial and business conditions and prospects 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;9.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Jury Trial</u>. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, CAUSE OF ACTION, OR PROCEEDING ARISING UNDER OR WITH RESPECT TO THIS AGREEMENT, OR IN ANY WAY CONNECTED WITH, OR RELATED TO, OR INCIDENTAL TO, THE DEALING OF THE PARTIES HERETO WITH RESPECT TO THIS AGREEMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND IRRESPECTIVE OF WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY AGREES THAT ANY SUCH CLAIM, DEMAND, ACTION, OR PROCEEDING SHALL BE DECIDED BY A COURT TRIAL WITHOUT A JURY AND THAT EITHER PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF ANY OTHER PARTY HERETO TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Conflicts</u>. In the event of any conflict between the provisions of this Agreement and the provisions of the Uber Subordination Agreement or the BMO Subordination Agreement, the provisions of the Uber Subordination Agreement or the BMO Subordination Agreement, as applicable, shall govern.

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

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| | |
|:---|:---|
| **BORROWER:** | **BORROWER:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By:  | /s/ Wayne Ting |
| Print Name: Wayne Ting | Print Name: Wayne Ting |
| Title: Chief Executive Officer | Title: Chief Executive Officer |

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**SIGNATURE PAGE TO PURCHASE AGREEMENT**

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

**SIGNATURE PAGE TO PURCHASE AGREEMENT**

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| | |
|:---|:---|
| **LENDERS:**  | **LENDERS:**  |
| **GV 2019, L.P.** | **GV 2019, L.P.** |
| By: GV 2019 GP, L.P., its General Partner | By: GV 2019 GP, L.P., its General Partner |
| By: GV 2019 GP, L.L.C., its General Partner | By: GV 2019 GP, L.L.C., its General Partner |
| By: | /s/ Daphne Chang |
| Print Name: Daphne Chang | Print Name: Daphne Chang |
| Title: Authorized Signatory  | Title: Authorized Signatory  |
| **ALPHABET HOLDINGS LLC**  | **ALPHABET HOLDINGS LLC**  |
| By: | /s/ Kenneth H. Yi |
| Print Name: Kenneth H. Yi | Print Name: Kenneth H. Yi |
| Title: President | Title: President |
| **INSTITUTIONAL VENTURE PARTNERS XVI, L.P.** | **INSTITUTIONAL VENTURE PARTNERS XVI, L.P.** |
| By: Institutional Venture Management Holdings XVI, LLC<br>Its: General Partner | By: Institutional Venture Management Holdings XVI, LLC<br>Its: General Partner |
| By: Institutional Venture Management XVI, LC Its: Manager | By: Institutional Venture Management XVI, LC Its: Manager |
| By: | &nbsp;&nbsp;&nbsp;&nbsp;/s/ Somesh Dash |
| Print Name: Somesh Dash | Print Name: Somesh Dash |
| Title: Managing Director | Title: Managing Director |
| **BAIN CAPITAL VENTURE FUND 2019, L.P.** | **BAIN CAPITAL VENTURE FUND 2019, L.P.** |
| By: Bain Capital Venture Investors 2019, LLC, its general partner | By: Bain Capital Venture Investors 2019, LLC, its general partner |
| By: Bain Capital Venture Investors, LLC, its manager | By: Bain Capital Venture Investors, LLC, its manager |
| By: | &nbsp;&nbsp;&nbsp;&nbsp;/s/ Sarah Smith  |
| Print Name: Sarah Smith | Print Name: Sarah Smith |
| Title: Managing Director  | Title: Managing Director  |
| **BCV 2019-MD PRIMARY, L.P.** | **BCV 2019-MD PRIMARY, L.P.** |
| By: Bain Capital Venture Investors 2019, LLC, its general partner | By: Bain Capital Venture Investors 2019, LLC, its general partner |

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| | |
|:---|:---|
| By: Bain Capital Venture Investors, LLC, its manager | By: Bain Capital Venture Investors, LLC, its manager |
| By: | /s/ Sarah Smith |
| Print Name: Sarah Smith | Print Name: Sarah Smith |
| Title: Managing Director  | Title: Managing Director  |
| **BCIP VENTURE ASSOCIATES II, L.P.** | **BCIP VENTURE ASSOCIATES II, L.P.** |
| By: Boylston Coinvestors, LLC, its General Partner | By: Boylston Coinvestors, LLC, its General Partner |
| By: | /s/ Sarah Smith |
| Print Name: Sarah Smith | Print Name: Sarah Smith |
| Title: Managing Director | Title: Managing Director |
| **BCIP VENTURE ASSOCIATES II-B, L.P.** | **BCIP VENTURE ASSOCIATES II-B, L.P.** |
| By: Boylston Coinvestors, LLC, its General Partner | By: Boylston Coinvestors, LLC, its General Partner |
| By: | /s/ Sarah Smith |
| Print Name: Sarah Smith | Print Name: Sarah Smith |
| Title: Managing Director | Title: Managing Director |
| **FIFTH WALL VENTURES, L.P.** | **FIFTH WALL VENTURES, L.P.** |
| By: Fifth Wall Ventures GP, LLC<br>Its: General Partner | By: Fifth Wall Ventures GP, LLC<br>Its: General Partner |
| By: | /s/ Brendan Wallace  |
| Print Name: Brendan Wallace | Print Name: Brendan Wallace |
| Title: Managing Director | Title: Managing Director |
| **UZ MICROMOBILITY PROJECT, SPV I, A** <br>**SERIES OF UZ MANAGEMENT CAPITAL, LLC**<br>By: UZ Micromobility Management, LLC | **UZ MICROMOBILITY PROJECT, SPV I, A** <br>**SERIES OF UZ MANAGEMENT CAPITAL, LLC**<br>By: UZ Micromobility Management, LLC |
| By: | /s/ Pablo Massana |
| Print Name: Pablo Massana | Print Name: Pablo Massana |
| Title: Manager | Title: Manager |
| By: | /s/ David Gannon |

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 Print Name: David Gannon <br> Title: Director, Theoden Director Services Limited for and on behalf of Winterfell Limited

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| | |
|:---|:---|
| **GREENOAKS CAPITAL OPPORTUNITIES FUND, L.P.** | **GREENOAKS CAPITAL OPPORTUNITIES FUND, L.P.** |
| By: Greenoaks Capital (MTGP), L.P., its general partner<br>By: Greenoaks Capital (TTGP), Ltd., its general partner | By: Greenoaks Capital (MTGP), L.P., its general partner<br>By: Greenoaks Capital (TTGP), Ltd., its general partner |
| By: | /s/ Benjamin Peretz |
| Print Name: Benjamin Peretz | Print Name: Benjamin Peretz |
| Title: Director  | Title: Director  |
| **FRANKLIN BLACKHORSE, L.P.** | **FRANKLIN BLACKHORSE, L.P.** |
| By: Franklin Venture Partners, LLC Blackhorse Series, a Delaware series limited liability company<br>By: Franklin Advisers, Inc., a California corporation, its Managing Member | By: Franklin Venture Partners, LLC Blackhorse Series, a Delaware series limited liability company<br>By: Franklin Advisers, Inc., a California corporation, its Managing Member |
| By: | /s/ Michael McCarthy |
| Print Name: Michael McCarthy | Print Name: Michael McCarthy |
| Title: EVP | Title: EVP |
| **137 Ventures IV, LP, a Delaware limited partnership** | **137 Ventures IV, LP, a Delaware limited partnership** |
| By: 137 Ventures IV, LLC, a Delaware limited liability company as general partner | By: 137 Ventures IV, LLC, a Delaware limited liability company as general partner |
| By: | /s/ Andrew P. Laszlo |
| Name: Andrew P. Laszlo  | Name: Andrew P. Laszlo  |
| Title: Managing Member | Title: Managing Member |
| **IQ HOLDINGS LIMITED** | **IQ HOLDINGS LIMITED** |
| By: | /s/ Mara Alido-Spencer |
| Name: Mara Alido-Spencer | Name: Mara Alido-Spencer |
| Title: Authorised Signatory  | Title: Authorised Signatory  |
| **SALIX INVESTMENTS, LLC** | **SALIX INVESTMENTS, LLC** |
| By: | /s/ Erron Smith |
| Name: Erron Smith | Name: Erron Smith |
| Title: Secretary | Title: Secretary |

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| | |
|:---|:---|
| **BAKER FAMILY TRUST** | **BAKER FAMILY TRUST** |
| By: | /s/ Edward Baker |
| Name: Edward Baker | Name: Edward Baker |
| Title: Trustee | Title: Trustee |
| **SUTTER ROCK CAPITAL CORP.** | **SUTTER ROCK CAPITAL CORP.** |
| By: | /s/ Mark Klein |
| Name: Mark Klein | Name: Mark Klein |
| Title: Chief Executive Officer | Title: Chief Executive Officer |
| **DING ZHOU LIVING TRUST** | **DING ZHOU LIVING TRUST** |
| By: | /s/ Ding Zhou |
| Name: Ding Zhou | Name: Ding Zhou |
| Title: Trustee | Title: Trustee |
| **GREEN BAY VENTURES, LLC**<br>By: Green Bay Ventures Manager, LLC<br>Its: Managing Member<br>By: Green Bay Advisors Venture, LLC<br>Its: Managing Member | **GREEN BAY VENTURES, LLC**<br>By: Green Bay Ventures Manager, LLC<br>Its: Managing Member<br>By: Green Bay Advisors Venture, LLC<br>Its: Managing Member |
| By: | /s/ Anthony Schiller |
| Name: Anthony Schiller | Name: Anthony Schiller |
| Title: Managing Member | Title: Managing Member |
| **WELIGHT CAPITAL L.P.** | **WELIGHT CAPITAL L.P.** |
| By: | /s/ WU XTAOGUANG |
| Name: WU XTAOGUANG | Name: WU XTAOGUANG |
| Title: Director | Title: Director |
| **ASCOLTA VENTURES, LLC** | **ASCOLTA VENTURES, LLC** |
| By: | /s/ Daniel J. Bergeson |
| Name: Daniel J. Bergeson | Name: Daniel J. Bergeson |
| Title: Managing Partner | Title: Managing Partner |
| By: | /s/ Myles B. Shear |
| Name: CASUAL MGMT. LLC. - Myles B. Shear | Name: CASUAL MGMT. LLC. - Myles B. Shear |
| Title: MGRM | Title: MGRM |

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| | |
|:---|:---|
| **LVC AM LLC** | **LVC AM LLC** |
| By:  | /s/ Michael J. Sharp |
| Name: Michael J. Sharp | Name: Michael J. Sharp |
| Title: Authorized Person | Title: Authorized Person |

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| | |
|:---|:---|
| **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (LSVF)** | **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (LSVF)** |
| By: | /s/ Sabrina Liang |
| Name: Sabrina Liang | Name: Sabrina Liang |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (SBST)** | **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (SBST)** |
| By: | /s/ Sabrina Liang |
| Name: Sabrina Liang | Name: Sabrina Liang |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (DAPER I)** | **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (DAPER I)** |
| By: | /s/ Sabrina Liang |
| Name: Sabrina Liang | Name: Sabrina Liang |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **WEST INVESTMENTS V, LLC** | **WEST INVESTMENTS V, LLC** |
| By: | /s/ Robert P Hrtica |
| Name: Robert P Hrtica | Name: Robert P Hrtica |
| Title: Manager | Title: Manager |
| **YOUWEB LLC** | **YOUWEB LLC** |
| By: | /s/ A. Peter Relan |
| Name: A. PETER RELAN | Name: A. PETER RELAN |
| Title: Managing Member | Title: Managing Member |
| By: | /s/ Yu Wang |
| Name: Yu Wang | Name: Yu Wang |
| Title: | Title: |

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH FUND** | **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY BLUE CHIP GROWTH COMMINGLED POOL** | **FIDELITY BLUE CHIP GROWTH COMMINGLED POOL** |
| By: Fidelity Management Trust Company, as Trustee | By: Fidelity Management Trust Company, as Trustee |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** | **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** | **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY BLUE CHIP GROWTH INSTITUTIONAL TRUST** | **FIDELITY BLUE CHIP GROWTH INSTITUTIONAL TRUST** |
| By its manager Fidelity Investments Canada ULC | By its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY SECURITIES FUND: FIDELITY SERIES BLUE CHIP GROWTH FUND** | **FIDELITY SECURITIES FUND: FIDELITY SERIES BLUE CHIP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |

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| | |
|:---|:---|
| **FIAM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** | **FIAM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** |
| By: Fidelity Institutional Asset Management Trust Company as Trustee | By: Fidelity Institutional Asset Management Trust Company as Trustee |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY PURITAN TRUST: FIDELITY PURITAN FUND** | **FIDELITY PURITAN TRUST: FIDELITY PURITAN FUND** |
| By: | /s/ Chris Maher |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher, Authorized Signatory | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher, Authorized Signatory |
| **FIDELITY FOUNDERS INVESTMENT TRUST** | **FIDELITY FOUNDERS INVESTMENT TRUST** |
| By its manager Fidelity Investments Canada ULC | By its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **VARIABLE INSURANCE PRODUCTS** <br>**FUND III: GROWTH OPPORTUNITIES PORTFOLIO** | **VARIABLE INSURANCE PRODUCTS** <br>**FUND III: GROWTH OPPORTUNITIES PORTFOLIO** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR SERIES GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR SERIES GROWTH OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMPANY FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY GROWTH COMPANY COMMINGLED POOL** | **FIDELITY GROWTH COMPANY COMMINGLED POOL** |
| By: Fidelity Management Trust Company, as Trustee | By: Fidelity Management Trust Company, as Trustee |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY K6** <br>**FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY K6** <br>**FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| By: | /s/ Samih Toukan |
| Name: Samih Toukan | Name: Samih Toukan |

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| | |
|:---|:---|
| **ALPHA ANNEX CITRUS FUND LLC – SERIES II** | **ALPHA ANNEX CITRUS FUND LLC – SERIES II** |
| By: Alpha Ventures Partners LLC, its manager | By: Alpha Ventures Partners LLC, its manager |
| By: | /s/ Stephen B. Brotman |
| Name: Stephen B. Brotman | Name: Stephen B. Brotman |
| Title: Manager | Title: Manager |
| **ALRAI HOLDINGS LIMITED** | **ALRAI HOLDINGS LIMITED** |
| By: | /s/ Vinay Menda |
| Name: Vinay Menda | Name: Vinay Menda |
| Title: Authorized Signatory | Title: Authorized Signatory |

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| | |
|:---|:---|
| **AMERICAN INVESTMENT HOLDINGS LLC** | **AMERICAN INVESTMENT HOLDINGS LLC** |
| By: | /s/ Jeffrey N. Vinik |
| Name: Jeffrey N. Vinik | Name: Jeffrey N. Vinik |
| Title: Chairman and Managing Member | Title: Chairman and Managing Member |
| **AH PARALLEL FUND V, L.P.** | **AH PARALLEL FUND V, L.P.** |
| for itself and as nominee for  | for itself and as nominee for  |
| AH Parallel Fund V-A, L.P., | AH Parallel Fund V-A, L.P., |
| AH Parallel Fund V-B, L.P., and  | AH Parallel Fund V-B, L.P., and  |
| AH Parallel Fund V-Q, L.P. | AH Parallel Fund V-Q, L.P. |
| By: AH Equity Partners V (Parallel), L.L.C.  | By: AH Equity Partners V (Parallel), L.L.C.  |
| Its general partner | Its general partner |
| By: | /s/ Scott Kupor |
| Name: Scott Kupor | Name: Scott Kupor |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **ANDREESEN HOROWITZ FUND IV, L.P.** | **ANDREESEN HOROWITZ FUND IV, L.P.** |
| for itself and as nominee for  | for itself and as nominee for  |
| Andreessen Horowitz Fund IV-A, L.P., | Andreessen Horowitz Fund IV-A, L.P., |
| Andreessen Horowitz Fund IV-B, L.P. and  | Andreessen Horowitz Fund IV-B, L.P. and  |
| Andreessen Horowitz Fund IV-Q, L.P. | Andreessen Horowitz Fund IV-Q, L.P. |
| By: AH Equity Partners V, L.L.C.  | By: AH Equity Partners V, L.L.C.  |
| Its general partner | Its general partner |
| By: | /s/ Scott Kupor |
| Name: Scott Kupor | Name: Scott Kupor |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **CONSW1, L.P.** | **CONSW1, L.P.** |
| By: | /s/ Scott Kupor |
| Name: Scott Kupor | Name: Scott Kupor |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **CLF PARTNERS, L.P.** | **CLF PARTNERS, L.P.** |
| By: | /s/ Scott Kupor |
| Name: Scott Kupor | Name: Scott Kupor |
| Title: COO | Title: COO |

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| | |
|:---|:---|
| **THE SAM BARSHOP GRANDCHILDREN IRREVOCABLE TRUST** | **THE SAM BARSHOP GRANDCHILDREN IRREVOCABLE TRUST** |
| By: | /s/ Bruce Barshop |
| Name: Bruce Barshop | Name: Bruce Barshop |
| Title: Trustee | Title: Trustee |
| **MOUNT HURON VENTURES, LLC** | **MOUNT HURON VENTURES, LLC** |
| By: | /s/ Peter Smith |
| Name: Peter Smith | Name: Peter Smith |
| Title: COO | Title: COO |
| **IOSTESSO HOLDINGS INC.** | **IOSTESSO HOLDINGS INC.** |
| By: | /s/ Charles Flicker |
| Name: Charles Flicker | Name: Charles Flicker |
| Title: Assistant-Secretary | Title: Assistant-Secretary |
| **M. BRADLEY SMITH AND MICHELE L. TRUFELLI LIVING TRUST** | **M. BRADLEY SMITH AND MICHELE L. TRUFELLI LIVING TRUST** |
| By: | /s/ M Bradley Smith |
| Name: M Bradley Smith | Name: M Bradley Smith |
| Title: Manager | Title: Manager |
| **MONTEZUMA FUND II LP** | **MONTEZUMA FUND II LP** |
| By: | /s/ Matt Wiles |
| Name: Matt Wiles | Name: Matt Wiles |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **MONTEZUMA FUND III LP** | **MONTEZUMA FUND III LP** |
| By: | /s/ Matt Wiles |
| Name: Matt Wiles | Name: Matt Wiles |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **MATTHEW K. SMITH REVOCABLE TRUST** | **MATTHEW K. SMITH REVOCABLE TRUST** |
| By: | /s/ Matthew Smith |
| Name: Matthew Smith  | Name: Matthew Smith  |
| Title: President | Title: President |

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| | |
|:---|:---|
| **PENTLAND GROUP LIMITED** | **PENTLAND GROUP LIMITED** |
| By: | /s/ B A Mosheim |
| Name: B A Mosheim  | Name: B A Mosheim  |
| Title: Director | Title: Director |
| **THE ADAM SCHWARTZ REVOCABLE TRUST** | **THE ADAM SCHWARTZ REVOCABLE TRUST** |
| By: | /s/ Adam Schwartz |
| Name: Adam Schwartz | Name: Adam Schwartz |
| Title: Trustee | Title: Trustee |
| **LIGHTVC, LTD.** | **LIGHTVC, LTD.** |
| By: | /s/ Elaine Saverin |
| Name: Elaine Saverin | Name: Elaine Saverin |
| Title: Director | Title: Director |
| **DAXN, Inc.** | **DAXN, Inc.** |
| By: | /s/ Daniel L. Dominguez |
| Name: Daniel L. Dominguez | Name: Daniel L. Dominguez |
| Title: President | Title: President |
| **LI FUND II, A SERIES OF FJ LABS FUNDS, LP** | **LI FUND II, A SERIES OF FJ LABS FUNDS, LP** |
| By: | /s/ Fabrice Grinda |
| Name: Fabrice Grinda | Name: Fabrice Grinda |
| Title: Authorized Person of the General Partner | Title: Authorized Person of the General Partner |
| **Next Play Capital II, L.P.** | **Next Play Capital II, L.P.** |
| By: Next Play Capital GP II, LLC | By: Next Play Capital GP II, LLC |
| Its: General Partner | Its: General Partner |
| By: | /s/ Eric Valle |
| Name: Eric Valle | Name: Eric Valle |
| Title: Operating Partner | Title: Operating Partner |

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| | |
|:---|:---|
| **NPC Lime, LLC** | **NPC Lime, LLC** |
| By: Next Play Capital GP II, LLC | By: Next Play Capital GP II, LLC |
| Its: General Partner | Its: General Partner |
| By: | /s/ Eric Valle |
| Name: Eric Valle | Name: Eric Valle |
| Title: Operating Partner | Title: Operating Partner |
| **ACP Venture Capital Fund II LLC** | **ACP Venture Capital Fund II LLC** |
| By: | /s/ Anthony Simone |
| Name: Anthony Simone | Name: Anthony Simone |
| Title: Manager | Title: Manager |
| **Akkadian Ventures IV, LP** | **Akkadian Ventures IV, LP** |
| By: Akkadian Ventures GP IV, LLC | By: Akkadian Ventures GP IV, LLC |
| Its: General Partner | Its: General Partner |
| By: | /s/ Mike Gridley |
| Name: Mike Gridley | Name: Mike Gridley |
| Title: Managing Director | Title: Managing Director |
| **AME CLOUD VENTURES, LLC** | **AME CLOUD VENTURES, LLC** |
| By: | /s/ Gregory R. Hardester |
| Name: Gregory R. Hardester | Name: Gregory R. Hardester |
| Title: Manager | Title: Manager |
| **The Back Family Trust** | **The Back Family Trust** |
| By: | /s/ Gregory F. Back |
| Name: Gregory F. Back | Name: Gregory F. Back |
| Title: Trustee | Title: Trustee |
| **BAO TRUST DATED MAR-10 2020** | **BAO TRUST DATED MAR-10 2020** |
| By: | /s/ Zhoujia Bao |
| Name: Zhoujia Bao | Name: Zhoujia Bao |
| Title: Trustee | Title: Trustee |

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| | |
|:---|:---|
| **Basis Set Ventures I, L.P.** | **Basis Set Ventures I, L.P.** |
| By: Basis Set Ventures GP I, LLC | By: Basis Set Ventures GP I, LLC |
| Its: General Partner | Its: General Partner |
| By: | /s/ Xuezhao Lan |
| Name: Xuezhao Lan | Name: Xuezhao Lan |
| Title: Managing Member | Title: Managing Member |
| **Bling Capital Fund I Opps L.P.** | **Bling Capital Fund I Opps L.P.** |
| By: | /s/ Ben Ling |
| Name: Ben Ling | Name: Ben Ling |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **Bling Capital Fund I Opps-A L.P.** | **Bling Capital Fund I Opps-A L.P.** |
| By: | /s/ Ben Ling |
| Name: Ben Ling | Name: Ben Ling |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **Bling Capital SPV A Neutron Holdings LP** | **Bling Capital SPV A Neutron Holdings LP** |
| By: | /s/ Ben Ling |
| Name: Ben Ling | Name: Ben Ling |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **BMW I VENTURES SCS, SICAV RAIF,** | **BMW I VENTURES SCS, SICAV RAIF,** |
| duly represented by BMW i Ventures, Inc., itself duly represented by Michael Hammer and <br>Ulrich Quay | duly represented by BMW i Ventures, Inc., itself duly represented by Michael Hammer and <br>Ulrich Quay |
| By: | /s/ Michael Hammer |
| Name: Michael Hammer  | Name: Michael Hammer  |
| Title: CFO | Title: CFO |
| By: | /s/ Ulrich Quay |
| Name: Ulrich Quay  | Name: Ulrich Quay  |
| Title: President | Title: President |
| **THE BROOD, LLC — SUB FUND 1** | **THE BROOD, LLC — SUB FUND 1** |
| By: Hillspire, LLC, its Manager | By: Hillspire, LLC, its Manager |
| By: | /s/ Maria Seferian |
| Name: Maria Seferian | Name: Maria Seferian |
| Title: General Counsel | Title: General Counsel |

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| | |
|:---|:---|
| By: | /s/ Carolyn Bao |
| Name: Carolyn Bao | Name: Carolyn Bao |
| **The Lu Daisy Li Living Trust** | **The Lu Daisy Li Living Trust** |
| By: | /s/ Lu Li |
| Name: Lu Li | Name: Lu Li |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **DCM Opportunity Fund II, L.P.** | **DCM Opportunity Fund II, L.P.** |
| By: DCM Opportunity Fund Investment Management II, L.P., its General Partner  | By: DCM Opportunity Fund Investment Management II, L.P., its General Partner  |
| By: DCM Opportunity Fund International II, Ltd., its General Partner | By: DCM Opportunity Fund International II, Ltd., its General Partner |
| By: | /s/ Matthew C. Bonner |
| Name: Matthew C. Bonner | Name: Matthew C. Bonner |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **DG Ventures, Inc.** | **DG Ventures, Inc.** |
| By: | /s/ Masahi Tanaka |
| Name: Masahi Tanaka | Name: Masahi Tanaka |
| Title: Executive Vice President and COO | Title: Executive Vice President and COO |
| **Dream Space Limited** | **Dream Space Limited** |
| By: | /s/ Junzhang Liang |
| Name: Junzhang Liang | Name: Junzhang Liang |
| Title: Director | Title: Director |
| **Global Opportunity I, LLC the General Partner of Global Opportunity I, L.P.** | **Global Opportunity I, LLC the General Partner of Global Opportunity I, L.P.** |
| By: | /s/ Andrew Lebovitz |
| Name: Andrew Lebovitz | Name: Andrew Lebovitz |
| Title: Manager | Title: Manager |

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| | |
|:---|:---|
| **GUO & WANG Holdings Limited** | **GUO & WANG Holdings Limited** |
| By: | /s/ Ruolin Wang |
| Name: Ruolin Wang | Name: Ruolin Wang |
| Title: Director | Title: Director |
| **HMC-GSV LM, Fondo de Inversion Privado** | **HMC-GSV LM, Fondo de Inversion Privado** |
| By: | /s/ Ricardo Mogrovejo |
| Name: Ricardo Mogrovejo | Name: Ricardo Mogrovejo |
| Title: CEO | Title: CEO |
| By: | /s/ Alvaro Allende |
| Name: Alvaro Allende | Name: Alvaro Allende |
| Title: Head of Front Office | Title: Head of Front Office |
| **Hyperion Inc.** | **Hyperion Inc.** |
| By: | /s/ Qi Ga |
| Name: Qi Gao | Name: Qi Gao |
| Title: Owner and Sole Director | Title: Owner and Sole Director |
| **Intellectus Ventures, LLC** | **Intellectus Ventures, LLC** |
| By: Intellectus Partners, LLC | By: Intellectus Partners, LLC |
| Its: Managing Member | Its: Managing Member |
| By: | /s/ David J. La Placa |
| Name: David J. La Placa | Name: David J. La Placa |
| Title: Managing Member | Title: Managing Member |
| **J-Brothers-Fund-II, a series of AngelList Funds, LP** | **J-Brothers-Fund-II, a series of AngelList Funds, LP** |
| By: Fund GP, LLC its General Partner | By: Fund GP, LLC its General Partner |
| By: Belltower Fund Group, Ltd., its Manager | By: Belltower Fund Group, Ltd., its Manager |
| By: | /s/ Meghan Christenson |
| Name: Meghan Christenson | Name: Meghan Christenson |
| Title: Authorized Person | Title: Authorized Person |
| By: | /s/ JaVale McGee |
| Name: JaVale McGee | Name: JaVale McGee |

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| | |
|:---|:---|
| **JIE ZHAO** | **JIE ZHAO** |
| By: | /s/ Jie Zhao |
| Name: Jie Zhao | Name: Jie Zhao |
| **KDDI Open Innovation Fund III L.P.** | **KDDI Open Innovation Fund III L.P.** |
| By: Global Brain Corporation, its general partner | By: Global Brain Corporation, its general partner |
| By: | /s/ Yasuhiko Yurimoto |
| Name: Yasuhiko Yurimoto | Name: Yasuhiko Yurimoto |
| Title: President & CEO | Title: President & CEO |
| **Kevin Diestel** | **Kevin Diestel** |
| By: | /s/ Kevin Diestel |
| Name: Kevin Diestel | Name: Kevin Diestel |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **Liangchi Holding** | **Liangchi Holding** |
| By: | /s/ Cher Liang |
| Name: Cher Liang | Name: Cher Liang |
| **Marbach Elevations LLC** | **Marbach Elevations LLC** |
| By: | /s/ Daniel Graf |
| Name: Daniel Graf | Name: Daniel Graf |
| Title: Sole Proprietor | Title: Sole Proprietor |
| **Math + Magic XII, LLC** | **Math + Magic XII, LLC** |
| By: | /s/ Jared Leto |
| Name: Jared Leto | Name: Jared Leto |
| Title: Member | Title: Member |
| **MERITECH CAPITAL AFFILIATES V L.P.** | **MERITECH CAPITAL AFFILIATES V L.P.** |
| By: Meritech Capital Associates V L.L.C., its General Partner | By: Meritech Capital Associates V L.L.C., its General Partner |
| By: | /s/ Paul S. Madera |
| Paul S. Madera, Managing Member | Paul S. Madera, Managing Member |

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| | |
|:---|:---|
| **MVP OPPORTUNITY FUND VI LLC** | **MVP OPPORTUNITY FUND VI LLC** |
| By: MVP Manager LLC | By: MVP Manager LLC |
| By: | /s/ Eric Brachfeld |
| Name: Eric Brachfeld | Name: Eric Brachfeld |
| Title: Manager | Title: Manager |
| **Nokia Growth Partners IV, L.P.** | **Nokia Growth Partners IV, L.P.** |
| By: NGP GP IV, LLC | By: NGP GP IV, LLC |
| Its General Partner | Its General Partner |
| By: | /s/ Monica Johnson |
| Name: Monica Johnson | Name: Monica Johnson |
| Title: Vice President | Title: Vice President |
| **O'BRIEN FAMILY 2003 TRUST** | **O'BRIEN FAMILY 2003 TRUST** |
| By: | /s/ Eric O'Brien |
| Name: Eric O'Brien | Name: Eric O'Brien |
| Title: Trustee | Title: Trustee |
| **SAV NEUTRON, LLC** | **SAV NEUTRON, LLC** |
| By: St. Augustine Capital Partners, Manager | By: St. Augustine Capital Partners, Manager |
| By: | /s/ Amanda Bush |
| Name: Amanda Bush | Name: Amanda Bush |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **Section 32 Fund 1, LP** | **Section 32 Fund 1, LP** |
| By: Section 32 GP 1, LLC, its general partner | By: Section 32 GP 1, LLC, its general partner |
| By: | /s/ Jennifer L. Kercher |
| Name: Jennifer L. Kercher | Name: Jennifer L. Kercher |
| Title: Chief Operating Officer | Title: Chief Operating Officer |
| **SHARESPOST 100 FUND** | **SHARESPOST 100 FUND** |
| By: SP Investments Management, LLC | By: SP Investments Management, LLC |
| its Investment Advisor | its Investment Advisor |
| By: | /s/ Kevin Moss |
| Name: Kevin Moss | Name: Kevin Moss |
| Title: COO and Managing Director | Title: COO and Managing Director |

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| | |
|:---|:---|
| **Shen Wang Limited** | **Shen Wang Limited** |
| By: | /s/ Dong Liyong |
| Name: Dong Liyong | Name: Dong Liyong |
| **The Board of Trustees of the Leland Stanford Junior University (SEVF II)** | **The Board of Trustees of the Leland Stanford Junior University (SEVF II)** |
| By: | /s/ Sabrina Liang |
| Name: Sabrina Liang | Name: Sabrina Liang |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **Summer Beauty Limited** | **Summer Beauty Limited** |
| By: | /s/ Jackson Law |
| Name: Jackson Law | Name: Jackson Law |
| Title: Director | Title: Director |
| Tachyon Expedition LLC | Tachyon Expedition LLC |
| By: | /s/ Yuye Zhang |
| Name: Yuye Zhang | Name: Yuye Zhang |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **Tech Partners Holdings – Lime LP** | **Tech Partners Holdings – Lime LP** |
| By: Tech Partners Holdings GP — Lime LLC | By: Tech Partners Holdings GP — Lime LLC |
| By: | /s/ Michael Cullen |
| Name: Michael Cullen | Name: Michael Cullen |
| Title: Member | Title: Member |
| **THIRTY FIVE VENTURES FUND I, LLC** | **THIRTY FIVE VENTURES FUND I, LLC** |
| By: | /s/ Rich Kleiman |
| Name: Rich Kleiman | Name: Rich Kleiman |
| Title: President | Title: President |
| **4J FAMILY TRUST** | **4J FAMILY TRUST** |
| By: | /s/ Jai Das |
| Name: Jai Das | Name: Jai Das |
| Title: Authorized Signatory | Title: Authorized Signatory |

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| | |
|:---|:---|
| **CHRISTIANE MARIA DORRELL AND DEAN VINCENT DORRELL AS TRUSTEES FOR CM & DV DORRELL SUPER FUND** | **CHRISTIANE MARIA DORRELL AND DEAN VINCENT DORRELL AS TRUSTEES FOR CM & DV DORRELL SUPER FUND** |
| By: /s/ Dean Dorrell & Christiane Dorrell | By: /s/ Dean Dorrell & Christiane Dorrell |
| Name: Dean Dorrell & Christiane Dorrell | Name: Dean Dorrell & Christiane Dorrell |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **ELLIS LEGACY LIVING TRUST** | **ELLIS LEGACY LIVING TRUST** |
| By: | /s/ James F. Ellis |
| Name: James F. Ellis | Name: James F. Ellis |
| Title: Trustee | Title: Trustee |
| **G&W HOLDING LIMITED** | **G&W HOLDING LIMITED** |
| By: | /s/ Yu Wang |
| Name: Yu Wang | Name: Yu Wang |
| Title: Owner | Title: Owner |
| **Christopher Hulls 2017 Trust** | **Christopher Hulls 2017 Trust** |
| By: | /s/ Christopher Hulls |
| Name: Christopher Hulls | Name: Christopher Hulls |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **Prelude Fund, LP** | **Prelude Fund, LP** |
| By: Prelude Ventures LLC, its General Partner | By: Prelude Ventures LLC, its General Partner |
| By: | /s/ Gabriel Kra |
| Name: Gabriel Kra | Name: Gabriel Kra |
| Title: Managing Director | Title: Managing Director |
| **Valhalla Fund Pty Ltd ATF The Valhalla Fund** | **Valhalla Fund Pty Ltd ATF The Valhalla Fund** |
| By: | /s/ James Steele Synge |
| Name: James Steele Synge | Name: James Steele Synge |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

## Exhibit 4.5

**Exhibit 4.5**

**CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN REDACTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) INFORMATION THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. [\*\*\*] INDICATES THAT INFORMATION HAS BEEN REDACTED.**

THIS AGREEMENT IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN (A) THAT CERTAIN SUBORDINATION AND INTERCREDITOR AGREEMENT, DATED AS OF OCTOBER 29, 2021 (AS AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME), BY AND AMONG WILMINGTON TRUST, NATIONAL ASSOCIATION, AS THE SENIOR AGENT, THE COLLATERAL AGENT, THE PURCHASERS AS THE SUBORDINATED LENDER AND THE NOTES PARTIES, (B) THAT CERTAIN SECOND LIEN/SECOND LIEN INTERCREDITOR AGREEMENT, DATED AS OF OCTOBER 29, 2021 (AS AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME), BY AND AMONG UBER TECHNOLOGIES, INC. ("<u>UBER</u>"), THE COLLATERAL AGENT, THE PURCHASERS AND THE NOTES PARTIES AND (C) THAT CERTAIN CONSENT AND WAIVER, DATED AS OF OCTOBER 29, 2021 (AS AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME), BY AND AMONG THE COLLATERAL AGENT, THE PURCHASERS AS THE SENIOR LENDERS, CERTAIN JUNIOR INVESTORS CONSTITUTING "REQUIRED LENDERS" (AS DEFINED IN THE JUNIOR NOTE PURCHASE AGREEMENT) AS SUBORDINATED LENDERS AND THE NOTES PARTIES.

**NOTE PURCHASE AGREEMENT**

THIS NOTE PURCHASE AGREEMENT (this "<u>Agreement</u>") is made as of October 29, 2021, by and among Neutron Holdings, Inc., a Delaware corporation (the "<u>Company</u>"), the purchasers (the "<u>Purchasers</u>") named on the Schedule of Purchasers attached hereto (the "<u>Schedule of Purchasers</u>") and Wilmington Savings Fund Society, FSB, in its capacity as collateral agent for the Holders (together with its permitted successors, in such capacity, "<u>Collateral Agent</u>"). Capitalized terms not otherwise defined in this Agreement shall have the meanings ascribed to them in Section 1 below.

WHEREAS, each Purchaser intends to provide certain Consideration to the Company as described for each Purchaser on the Schedule of Purchasers;

WHEREAS, the parties wish to provide for the sale and issuance of such Notes in return for the provision by the Purchasers of the Consideration to the Company; and

WHEREAS, the parties intend for the Company to issue in return for the Consideration one or more Notes convertible into shares of the Company's Equity Securities and secured by substantially all asset of the Company pursuant to the Security Documents.

NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Definitions</u>. The following capitalized terms shall have the following meanings:

"<u>Acquisition</u>" means any transaction or series of related transactions consummated by Company and/or any of its Subsidiaries after the Closing Date for the purpose of or resulting, directly or indirectly, in (a) the acquisition of all or substantially all of the assets of a Person, or of any business, line of business or division or other unit of operation of a Person, (b) the acquisition of fifty percent (50%) or more of any class of equity interests of any Person, whether or not

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involving a merger, consolidation or similar transaction with such other Person, or otherwise causing any Person to become a Subsidiary of the Company, or (c) the acquisition of, or the right to use, develop, license or sell (in each case, including through licensing), any product, product line, royalty rights or Intellectual Property of or from any other Person.

"<u>Act</u>" means the Securities Act of 1933, as amended.

"<u>Adoption Agreement</u>" means that certain Adoption Agreement, in substantially the form attached to that certain call option agreement, dated as of May 7, 2020, by and among the Company, Uber and certain stockholders of the Company, as amended, restated, supplemented or otherwise modified from time to time.

"<u>Affiliate</u>" means at any time, and with respect to any Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;any other Person that at such time directly or indirectly through one or more intermediaries Controls, or is Controlled by, or is under common Control with, such first Person, 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;any other Person that beneficially owns or holds, at such time, in the aggregate, directly or indirectly, 10% or more of any class of voting or equity interests of such first Person or any other Person of which such first Person beneficially owns or holds, at such time, in the aggregate, directly or indirectly, 10% or more of any class of voting or equity interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Unless the context otherwise clearly requires, any reference herein to an "<u>Affiliate</u>" is a reference to an Affiliate of the Company.

"<u>Agreement</u>" means this Note Purchase Agreement as it may be amended, supplemented, replaced or restated from time to time.

"<u>Applicable Law</u>" means (a) any statute, law (including common and civil law), rule, regulation or by-law, (b) any judgement, order, writ, injunction, decision, ruling, decree or award, (c) any regulatory policy, practice, guideline or directive, or (d) any right or other approval of any Governmental Authority, in each case, binding on or affecting a Person.

"<u>Asset Disposition</u>" means, with respect to any Person, any transaction in which such Person sells, conveys, assigns, transfers, leases (as lessor) or otherwise disposes of a material portion of its Assets, including any Capital Stock of any of its Subsidiaries or any of its other Assets, present or future, and for certainty, does not include (i) any loss due to a casualty or condemnation event and (ii) the sale, conveyance, assignment, transfer, lease (as lessor) or other disposition by the Company of any cash then held by the Company.

"<u>Assets</u>" of a Person means all present and future property, rights and assets, real and personal, movable and immovable, tangible and intangible, of such Person of whatever nature and wheresoever situated.

"<u>Authorized Officer</u>" means the chairman of the board, chief executive officer, chief financial officer, the president, vice president (or equivalent thereof), manager (or manager of such Person's sole member), or treasurer, in each case, of a Note Party, or any other officer

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having substantially the same authority and responsibility (or, in the case of any Foreign Subsidiary, a director or other authorized signatory of such Foreign Subsidiary).

"<u>Board</u>" means the board of directors of the Company.

"<u>Business</u>" means micromobility, including, without limitation, electronic scooter and bike rentals and related micromobility businesses.

"<u>Business Day</u>" means any day other than Saturday, Sunday and any other day on which banking institutions in the State of New York are closed for business.

"<u>Bylaws</u>" means the Amended and Restated Bylaws of the Company.

"<u>Capital Stock</u>" means any and all shares (including any preferred shares), interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants, rights or options to purchase any of the foregoing, whether voting or non-voting.

"<u>Cash Management Services</u>" means any of the following to the extent not constituting a line of credit (other than an overnight draft facility that is not in default); automated clearing house transactions, treasury and/or cash management services, including, without limitation, treasury, depository, overdraft, credit, purchasing or debit card, non-card e-payable services, electronic funds transfer, treasury management services (including controlled disbursement services, overdraft automatic clearing house fund transfer services, return items and interstate depository network services), other demand deposit or operating account relationships, foreign exchange facilities, and merchant services.

"<u>Cash Settlement Conditions</u>" means, with respect to the settlement of any conversion (or redemption) of any Permitted Convertible Debt, satisfaction of each of the following events at the time of delivery of the conversion consideration: (a) both immediately before and after giving effect thereto, no Default or Event of Default shall exist or result therefrom, (b) the Company's Qualified Cash (as defined in the Senior Credit Agreement) shall be no less than 150% of the outstanding Senior Obligations and (c) no Redemption Trigger Event (as defined in the Senior Credit Agreement) shall exist or result therefrom.

"<u>Closing Date</u>" means the date of this Agreement.

"<u>Code</u>" means the Internal Revenue Code of 1986, as amended from time to time.

"<u>Collateral</u>" means all of the Assets of the Company intended to be subject to a Lien in favor of the Holders in the manner set forth in Section 6.3; <u>provided</u> that in no event shall the Collateral include any Excluded Assets.

"<u>Collateral Agent</u>" has the meaning set forth in the introductory paragraph hereto and as further defined in Section 9.

"<u>Common Stock</u>" means shares of the Company's common stock, par value $0.0001 per share.

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"<u>Consideration</u>" means the amount of money paid by each Purchaser pursuant to this Agreement as shown on the Schedule of Purchasers.

"<u>Contingent Obligation</u>" means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to (i) any Indebtedness, lease, dividend, letter of credit or other obligation of another, including any such obligation directly or indirectly guaranteed, endorsed, co-made or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit, corporate credit cards or merchant services issued for the account of that Person; and (iii) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; <u>provided</u>, <u>however</u>, that the term "Contingent Obligation" shall not include endorsements for collection or deposit in the ordinary course of business. The amount of any Contingent Obligation shall be deemed, without duplication of the primary obligation, to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by such Person in good faith; <u>provided</u>, <u>however</u>, that such amount shall not in any event exceed the maximum amount of the obligations under the guarantee or other support arrangement. For the avoidance of doubt, no Permitted Bond Hedge Transaction or Permitted Warrant Transaction will be considered a Contingent Obligation of the Company.

"<u>Control</u>" means the possession, directly or indirectly, 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.

"<u>Control Agreement</u>" means an agreement, in form and substance reasonably satisfactory to the Requisite Holders, executed and delivered by the Company, the Collateral Agent, for the benefit of the Secured Parties, the applicable securities intermediary or bank, and any other agents (as applicable), which agreement is sufficient, subject to the Senior Intercreditor Agreement and the Intercreditor Agreement, to give the Collateral Agent, for the benefit of the Secured Parties, "control" over the subject securities account or deposit account or Investment Property, each as defined in and under the Uniform Commercial Code of the applicable jurisdiction.

"<u>Conversion Shares</u>" means the Equity Securities issuable upon conversion of the Notes, pursuant to the terms of each Note.

"<u>Corporate Transaction</u>" means any transaction defined as a "Deemed Liquidation Event" in the Restated Certificate.

"<u>Default</u>" means any event or circumstance which constitutes an Event of Default or which, with the giving of notice or lapse of time or both would, unless cured or waived, constitute an Event of Default.

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"<u>Domestic Subsidiary</u>" means any Subsidiary of the Company organized under the laws of the United States of America, any State thereof, the District of Columbia, or any other jurisdiction within the United States of America.

"<u>Dollars</u>" and the symbol "$" each means the lawful money for the time being of the United States of America in same day immediately available funds or, if such funds are not available, the form of money of the United States of America which is customarily used in the settlement of international banking transactions on that day.

"<u>Equity Cash Payment Conditions</u>" means, with respect to a given Equity Cash Payment Transaction, in each case measured immediately before and immediately after giving effect to any cash payments to be made in connection with such Equity Cash Payment Transaction: (a) no Default or Event of Default shall have occurred and be continuing, (b) the Company shall have Qualified Cash (as defined in the Senior Credit Agreement) in an amount greater than or equal to 200% of the then-outstanding Senior Obligations and (c) no Redemption Trigger Event shall exist or result therefrom.

"<u>Equity Cash Payment Transaction</u>" means any transaction or series of related transactions whereby any cash, cash equivalents or other immediately available funds are distributed, exchanged, redeemed, deposited, paid, settled or otherwise transferred for, on account of, or in connection with the ownership of any Capital Stock or other ownership rights in any capital stock, joint venture or similar interests, including without limitation in connection with any Permitted Investments (as defined in the Senior Credit Agreement), Permitted Indebtedness or any transaction permitted under Section 6.2(d).

"<u>Equity Securities</u>" means the Company's Common Stock or Preferred Stock or any securities conferring the right to purchase the Company's Common Stock or Preferred Stock or securities convertible into, or exchangeable for (with or without additional consideration), the Company's Common Stock or Preferred Stock, except any security granted, issued and/or sold by the Company to any director, officer, employee or consultant of the Company in such capacity for the primary purpose of soliciting or retaining their services.

"<u>ERISA</u>" means the Employee Retirement Income Security Act of 1974.

"<u>ERISA Affiliate</u>" means any trade or business (whether or not incorporated) under common control with the Company within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code or Section 302 of ERISA).

"<u>ERISA Event</u>" means (a) a Reportable Event with respect to a Pension Plan; (b) the failure by the Company or any ERISA Affiliate to meet all applicable requirements under the Pension Funding Rules or the filing of an application for the waiver of the minimum funding standards under the Pension Funding Rules; (c) the incurrence by the Company or any ERISA Affiliate of any liability pursuant to Section 4063 or 4064 of ERISA or a cessation of operations with respect to a Pension Plan within the meaning of Section 4062(e) of ERISA; (d) a complete or partial withdrawal by the Company or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization or insolvent (within the meaning of

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Title IV of ERISA); (e) the filing of a notice of intent to terminate a Pension Plan under, or the treatment of a Pension Plan amendment as a termination under, Section 4041 of ERISA; (f) the institution by the PBGC of proceedings to terminate a Pension Plan; (g) any event or condition that constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (h) the determination that any Pension Plan is in at-risk status (within the meaning of Section 430 of the Code or Section 303 of ERISA) or that a Multiemployer Plan is in endangered or critical status (within the meaning of Section 432 of the Code or Section 305 of ERISA); (i) the imposition or incurrence of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Company or any ERISA Affiliate; (j) the engagement by the Company or any ERISA Affiliate in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; (k) the imposition of a lien upon the Company pursuant to Section 430(k) of the Code or Section 303(k) of ERISA; or (l) the making of an amendment to a Pension Plan that could result in the posting of bond or security under Section 436(f)(1) of the Code.

"<u>Event of Default</u>" means any of the events specified in Section 8.1.

"<u>Excluded Assets</u>" means (A) any Exempt Accounts, (B) any contracts, licenses or agreements in which the Company or any of its Subsidiaries has or hereafter acquires any right, title or interest, if and to the extent the Company or any of its Subsidiaries' right, title or interest in such contract, license or agreement is subject to a contractual provision or other restriction on assignment (in each case, not entered into in contemplation of this Agreement) such that the creation of a security interest in the right, title or interest of the Company or any of its Subsidiaries therein would be prohibited or would, in and of itself, cause or result in a default thereunder resulting in termination of such contract, license or agreement or enabling another Person party to such contract, license or agreement to enforce any remedy with respect thereto; <u>provided</u> that the foregoing exclusions shall not apply if (i) such contractual provision or other restriction on assignment has been waived or such other Person has otherwise consented to the creation hereunder of a security interest in such contract, license or agreement, or (ii) such contractual provision or other restriction on assignment would be rendered ineffective pursuant to the Uniform Commercial Code, as applicable and as then in effect in any relevant jurisdiction, or any other applicable law (including the Bankruptcy Code); <u>provided</u> <u>further</u> that immediately upon the ineffectiveness, lapse or termination of any such contractual provision or other restriction on assignment, the Company or applicable Subsidiary shall be deemed to have automatically granted a security interest in, all its rights, title and interests in and to such contract, license or agreement as if such contractual provision or other restriction on assignment had never been in effect, (C) any intent-to-use United States trademark applications for which an amendment to allege use or statement of use has not been filed or examined and accepted by the United States Patent and Trademark Office; <u>provided</u>, that upon such filing and acceptance, the Company or applicable Subsidiary shall be deemed to have automatically granted a security interest in such intent-to-use applications and such intent-to-use applications shall be included in Collateral, (D) assets as to which it is determined by the Requisite Holders in their reasonable discretion but in consultation with the Company that the burden and cost of perfecting a security interest therein outweighs the benefit to the Holders of the security to be afforded thereby, (E) motor vehicles and other assets subject to certificates of title, and (F) more than sixty-five percent (65%) of the presently existing and hereafter arising issued and outstanding shares of capital stock owned by Company or any of

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its Subsidiaries of any Foreign Subsidiary which shares entitle the holder thereof to vote for directors or any other matter.

"<u>Exempt Accounts</u>" means, collectively, (1) payroll accounts, (2) employee benefit accounts, (3) trust accounts, (4) escrow accounts, (5) tax accounts (including, without limitation, sales tax accounts), (6) accounts maintained solely in trust for the benefit of third parties and fiduciary purposes, (7) zero balance or swept accounts, (8) cash collateral accounts and restricted accounts containing security deposits or (9) all Existing Accounts, in each case maintained in the ordinary course of business; <u>provided</u>, <u>however</u>, that under no circumstances shall the balance at any time in any such Exempt Account or the aggregate balance across all such Exempt Accounts exceed $10,000,000.

"<u>Existing Accounts</u>" means the balance of the following accounts as of the Closing: (1) that certain JPMorgan Chase account ending [\*\*\*], (2) that certain BMO Harris account ending [\*\*\*], (3) that certain Citibank account number ending [\*\*\*], (4) that certain Citibank account number ending [\*\*\*], (5) that certain Citibank account number ending [\*\*\*] and any replacement or successor accounts.

"<u>Fidelity Holder</u>" means each Holder that is advised or sub-advised by Fidelity Management & Research Company LLC ("<u>Fidelity</u>") or any affiliated investment advisor of Fidelity.

"<u>Fiscal Quarter</u>" means any fiscal quarter of any Fiscal Year, which quarters shall end on the last day of each March, June, September and December of such Fiscal Year in accordance with the fiscal accounting calendar of the Company.

"<u>Fiscal Year</u>" means the fiscal year of the Company ending on December 31 of each calendar year.

"<u>Foreign Plan</u>" means any employee pension benefit plan, program, policy, arrangement or agreement maintained or contributed to by the Company or any Subsidiary with respect to employees employed outside the United States (other than any governmental arrangement).

"<u>Foreign Subsidiary</u>" means any Subsidiary that is a "controlled foreign corporation" under Section 957 of the Code, such that, in the case of any such Subsidiary of the Obligations of a Lien on the Assets of such Subsidiary to secure the Obligations would result in material tax liability to the Company or its direct or indirect owners.

"<u>GAAP</u>" means generally accepted accounting principles in the United States, as in effect from time to time.

"<u>Guarantee</u>" by any Person means any obligation, contingent or otherwise, of such Person directly or indirectly guaranteeing any Indebtedness or other obligation of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation (whether arising by virtue of partnership arrangements, by agreement to keep-well, to purchase assets, goods, securities or services, to take-

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or-pay, or to maintain financial statement conditions or otherwise), or (b) entered into for the purpose of assuring in any other manner the obligee of such Indebtedness or other obligation of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part), provided, however, that the term Guarantee shall not include endorsements for collection or deposit in the ordinary course of business. The term "Guarantee" used as a verb has a corresponding meaning.

"<u>Guarantee Agreement</u>" means that certain Guarantee dated as of the date hereof by the Guarantors in favor of the Holders, as amended, restated, supplemented or otherwise modified from time to time.

"<u>Guarantor</u>" means (i) each Domestic Subsidiary of the Company that has executed or delivered, or shall in the future, pursuant to Section 6.1, execute or deliver, any Guarantee of Obligations, and (ii) each other Subsidiary of the Company that the Company shall, in its sole discretion, cause to execute and deliver (a) a Guarantee of Obligations and (b) other Security Documents, in form and substance reasonably acceptable to the Company and the Requisite Holders, including Control Agreements or other instruments that provide the Collateral Agent with a perfected Lien (subject to Permitted Liens) over any deposit accounts or securities accounts held by such Subsidiary; <u>provided</u>, that, subject to <u>Section 6.1(c)(iii)</u>, any Subsidiary that Guarantees the Senior Obligations shall also be required to Guarantee the Obligations and grant security in favor of the Collateral Agent, for the benefit of the Secured Parties, in accordance with <u>Sections 6.1(a)</u> and <u>(b)</u>. As of the Closing Date, the sole Guarantor is Lime Neutron LLC, a Delaware limited liability company.

"<u>Governmental Authority</u>" means any nation or government, any state, province or other political subdivision thereof, and any agency, branch of government, department exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, whether domestic or foreign.

"<u>Highbridge Holder</u>" means each Holder that is advised or sub-advised by Highbridge Capital Management, LLC ("<u>Highbridge</u>") or any successor of Highbridge.

"<u>Holders</u>" means (i) each of the Purchasers set forth on the Schedule of Purchasers, in each case for so long as such Purchasers continue to hold Notes and (ii) each other holder of Notes that may become a party from time to time hereto pursuant to an assignment in accordance with Section 10.1 and their respective successors and assigns and "<u>Holder</u>" means any one of them.

"<u>Indebtedness</u>" means indebtedness of any kind, including (a) all indebtedness for borrowed money or the deferred purchase price of property or services (excluding trade credit entered into in the ordinary course of business), including reimbursement and other obligations with respect to surety bonds and letters of credit, (b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all capital lease obligations, as determined under GAAP, and (d) all Contingent Obligations. For the avoidance of doubt no Permitted Warrant Transaction shall be considered Indebtedness.

"<u>Indemnitee</u>" has the meaning set forth in <u>Section 10.8</u>.

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"<u>Indemnified Liabilities</u>" means, collectively, any and all liabilities, obligations, losses, damages, penalties, claims, actions, judgments, suits, costs, expenses and disbursements of any kind or nature whatsoever (including the reasonable and documented fees and disbursements of counsel for Indemnitees in connection with any investigative, administrative or judicial proceeding or hearing commenced or threatened by any Notes Party, its Affiliates (including Subsidiaries) or any other Person, whether or not any such Indemnitee shall be designated as a party or a potential party thereto, and any fees or expenses incurred by Indemnitees in enforcing this indemnity), whether direct, indirect, special or consequential and whether based on any federal, state or foreign laws, statutes, rules or regulations (including securities and commercial laws, statutes, rules or regulations and environmental Laws), on common law or equitable cause or on contract or otherwise, that may be imposed on, incurred by, or asserted against any such Indemnitee, in any manner relating to or arising out of (i) this Agreement or the other Notes Documents or the transactions contemplated hereby or thereby (including the Purchasers' agreement to purchase the Notes or the use or intended use of the proceeds thereof, or any enforcement of any of the Notes Documents (including any sale of, collection from, or other realization upon any of the Collateral or the enforcement of the Guarantee Agreement)); (ii) any fee letter delivered by the Collateral Agent or any Purchaser to the Company with respect to the transactions contemplated by this Agreement; (iii) any environmental claim relating to or arising from, directly or indirectly, any past or present activity, operation, land ownership, or practice of the Company or any of its Subsidiaries; (iv) any Note or the use of proceeds thereof; or (v) any of the Transactions.

"<u>Initial Public Offering</u>" or "<u>IPO</u>" means the closing of the issuance and sale of shares of Equity Securities of the Company in the Company's first underwritten public offering pursuant to an effective registration statement under the Act.

"<u>Insolvency Proceeding</u>" has the meaning set forth in Section 8.1(c).

"<u>Intellectual Property</u>" means any intellectual or intangible property (whether owned or licensed) including, without limitation, trademarks, trademark registrations and applications, service marks, service mark registrations and applications, trade names, trade name registrations and applications, corporate names and fictitious names, copyrights, copyright registrations and applications, works of authorship, patents, patent applications, industrial designs, industrial design registrations and applications, integrated circuit topographies, integrated circuit topographies applications and registrations, design rights, inventions, trade secrets, data, technical information, designs, plans, specifications, designs, formulas, processes, patterns, compilations, devices, techniques, mask works, mask work registrations and applications, methods, shop rights, know-how, show-how, and other business or technical confidential or proprietary information in each case whether or not such rights are patentable, copyrightable, or registerable; software and computer hardware programs and systems, source code, object code, databases, and documentation relating to the foregoing; all domain names, internet addresses, internet sites and social media including, without limitation, all related accounts, names and content; and other proprietary information owned, controlled, created, under development or used by or on behalf of any Person in whole or in part and whether or not registerable or registered, and any registrations or applications for the foregoing.

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"<u>Intercreditor Agreement</u>" means the Intercreditor Agreement, dated as of the date hereof, by and among the Collateral Agent, the Purchasers, Uber and the Notes Parties, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof.

"<u>Investment</u>" means any beneficial ownership (including stock, partnership or limited liability company interests) of or in any Person, or any loan, advance, Guarantee or capital contribution to any Person or the acquisition of any material asset or property of another Person.

"<u>Investors' Rights Agreement</u>" means the Investors' Rights Agreement, dated as of May 7, 2020, by and among the Company and certain other investors party thereto, as amended, restated, supplemented or otherwise modified from time to time.

"<u>IRS</u>" means the Internal Revenue Service.

"<u>Junior Investor Subordination Agreement</u>" means the Consent and Subordination Agreement dated as of the date hereof (as may be amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof), among the Collateral Agent, the Purchasers as the senior lenders, certain Junior Investors, as the subordinated lenders, constituting "Required Lenders" (as defined in the Junior Note Purchase Agreement) as subordinated lenders and the Notes Parties, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof.

"<u>Junior Investors</u>" means the investors party to the Junior Note Purchase Agreement.

"<u>Junior Note Purchase Agreement</u>" means the Note and Warrant Purchase Agreement dated as of May 7, 2020 (as may be amended, restated, supplemented or otherwise modified from time to time), among the Company and the Junior Investors as lenders.

"<u>Key Employees</u>" means any executive-level employee (including division director and vice president-level positions) as well as any employee or consultant who either alone or in concert with others develops, invents, programs or designs any Intellectual Property of the Company.

"<u>Law</u>" means all applicable provisions of statutes, ordinances, decrees, orders in council, rules, regulations, treaties and all applicable determinations, rulings, orders and decrees of Governmental Authorities and arbitrators.

"<u>Lien</u>" means a mortgage, prior claim, pledge, privilege, lien, charge or other encumbrance in the nature of a security interest in any Assets or a pledge or hypothecation thereof or any assignment by way of security.

"<u>Material Adverse Effect</u>" means a material adverse change in or effect on, either individually or in the aggregate, the business, Assets, liabilities, financial position or operating results of the Company, taken as a whole, or which adversely affects (i) the ability of the Company to perform any of its payment obligations under or pursuant to any of the Notes Documents in accordance with their respective terms, (ii) the validity or enforceability of any of the Notes

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Documents or (iii) the priority ranking of any Lien granted to the Holders under the Security Documents (other than as a result by the failure of Holders to make or maintain any required filing or maintain possession of possessory Collateral).

"<u>Material Contracts</u>" means the contracts entered into by or assigned to the Company and any other contract to which the Company is a party that, (i) if terminated and not replaced, would reasonably be expected to have a Material Adverse Effect or (ii) that is set forth in <u>Schedule 4.11A</u>, in each case, as amended, supplemented, replaced or restated from time to time.

"<u>Maturity Date</u>" shall be as set forth in each Note.

"<u>Multiemployer Plan</u>" means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the Company or any ERISA Affiliate makes or is obligated to make contributions, during the preceding five plan years has made or been obligated to make contributions, or has any liability.

"<u>Multiple Employer Plan</u>" means a Plan with respect to which the Company or any ERISA Affiliate is a contributing sponsor, and that has two or more contributing sponsors at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA.

"<u>Notes</u>" means the one or more Convertible Secured Promissory Notes due 2026 issued by the Company to the Purchasers pursuant to Section 2.1 below, the form of which is attached hereto as <u>Exhibit A</u>.

"<u>Notes Documents</u>" means, collectively, this Agreement, the Notes, the Senior Intercreditor Agreement, the Intercreditor Agreement, the Junior Investor Subordination Agreement, each Security Document, the Guarantee Agreement and all other consents, documents, instruments and agreements executed or delivered by the Notes Parties or any other Person in connection directly or indirectly with this Agreement or otherwise referred to or contemplated under or by this Agreement or any such documents, instruments or agreements, as the same may be amended, supplemented or restated from time to time.

"<u>Notes Parties</u>" means, collectively, the Company and each Guarantor, and "<u>Notes Party</u>" means any one of them.

"<u>Obligations</u>" means all unpaid principal of, accrued and unpaid interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Notes, all premiums, if any, all accrued and unpaid fees and all expenses, reimbursements, indemnities and all other advances to, debts, liabilities and obligations of the Company or any Guarantor to the Holders, the Collateral Agent or any indemnified party arising under this Agreement, the Notes or the Notes Documents in respect of the Notes, whether direct or indirect (including those acquired by assumption), absolute, contingent, due or to become due, now existing or hereafter arising.

"<u>OFAC</u>" means The Office of Foreign Assets Control of the U.S. Department of the Treasury.

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"<u>PBGC</u>" means the Pension Benefit Guaranty Corporation or any entity succeeding to any or all of its functions under ERISA.

"<u>Pension Act</u>" means the Pension Protection Act of 2006.

"<u>Pension Funding Rules</u>" means the rules of the Code and ERISA regarding minimum funding standards and minimum required contributions (including any installment payment thereof) to Pension Plans and Multiemployer Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act and, thereafter, Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.

"<u>Pension Plan</u>" means any employee pension benefit plan (including a Multiple Employer Plan, but excluding a Multiemployer Plan) that is maintained or is contributed to by the Company or any ERISA Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code.

"<u>Permitted Acquisition</u>" means any Acquisition which is conducted in accordance with the following 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;of a business or Person or product engaged in a line of business that is similar, ancillary, complementary, incidental or related thereto, or an extension, development or expansion of the business of Company or its 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;if such Acquisition is structured as a stock acquisition, then the Person so acquired shall either (i) satisfy the requirements of Section 6.1(a) hereof and be jointly and severally liable for all Obligations or (ii) such Person shall be merged with and into Company (with Company being the surviving 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;if such Acquisition is structured as the acquisition of assets, such assets shall be acquired by the Company or any of its Subsidiaries, and shall be free and clear of Liens 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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Company shall have delivered to Holders not less than fifteen (15) days prior to the date of such Acquisition, notice of such 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;both immediately before and after such Acquisition, no Event of Default shall have occurred and be 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;(vi)&nbsp;&nbsp;&nbsp;&nbsp;prior to or substantially concurrently with the consummation of any such Acquisition, delivery of a copy of the agreement relating to such 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;such Acquisition is consensual (non-"hostile") and, if applicable, shall have been approved by the board of directors (or other similar body) and/or the stockholders or other equityholders of the target, if 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;(viii)&nbsp;&nbsp;&nbsp;&nbsp;the aggregate consideration paid in connection with all Acquisitions consummated in any Test Period (as defined in the Senior Credit Agreement) shall not exceed

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$50,000,000, *plus* the amount of any Permitted Indebtedness described in clauses (v), (xi) or (xii) of the definition thereof incurred by the Notes Parties plus the amount of proceeds from the issuance of equity interests by the Company, so long as (x) on the date the definitive agreement for any Acquisition is entered into, after giving pro forma effect to such Acquisition, the Company shall be in compliance with all covenants set forth in Sections 7.20 and 7.21 of the Senior Credit Agreement as of the most recent Test Period (assuming, for purposes of Section 7.20 of the Senior Credit Agreement, that such transaction had occurred on the first day of such relevant Test Period), and (y) any such Indebtedness shall be Subordinated Indebtedness and (z) any such Indebtedness shall not have cash payments of principal or any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier than, one hundred eighty (180) days after the Maturity Date; <u>provided</u>, that this clause (z) shall no longer apply as of the first date an Initial Public Offering has occurred; 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;(ix)&nbsp;&nbsp;&nbsp;&nbsp;the Total Net Leverage Ratio (as defined in the Senior Credit Agreement) would be less than the Total Net Leverage Ratio immediately prior to the Acquisition.

"<u>Permitted Bond Hedge Transaction</u>" means any call or capped call option (or substantively equivalent derivative transaction) relating to the Company's common stock (or other securities or property following a merger event or other change of the common stock of the Company) purchased by the Company in connection with the issuance of any Permitted Convertible Debt, as may be amended in accordance with its terms; <u>provided</u> that, the cost of such transaction (net of any proceeds to the Company from the sale of any related Permitted Warrant Transaction) shall not exceed 15% of the gross proceeds to the Company from such issuance of Permitted Convertible Debt; <u>provided</u> <u>further</u> that the terms, conditions and covenants of each such call option transaction are customary for agreements of such type; <u>provided</u>; <u>further</u> that a certificate of the Company as to the satisfaction of such requirement (described in the immediately preceding proviso) delivered to each Holder at least ten (10) Business Days prior to entering into such transaction, together with a reasonably detailed description of the material terms, conditions and covenants of such transaction or drafts of documentation relating thereto, stating that the Company has determined in good faith that such terms, conditions and covenants satisfy the foregoing requirement, shall be conclusive evidence of satisfaction thereof, unless Holders (constituting Requisite Holders) notify the Company at least one (1) day prior to the date the Company intends to enter into such transaction that such Holders (constituting Requisite Holders) disagree, in each Holder's commercially reasonable judgment, with such determination.

"<u>Permitted Convertible Debt</u>" means Indebtedness of the Company that is convertible into a fixed number (subject to customary anti-dilution adjustments, "make-whole" increases and other customary changes thereto) of shares of common stock of the Company (or other securities or property following a merger event or other change of the common stock of the Company), cash or any combination thereof (with the amount of such cash or such combination determined by reference to the market price of such common stock or such other securities); <u>provided</u>, that such Indebtedness shall (i) not require cash settlement of conversions or other cash payments of principal or any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier than, one hundred eighty (180) days after the Maturity Date, (ii) be unsecured, (iii) not be guaranteed by any Subsidiary of the Company, (iv) be on terms and conditions customary for Indebtedness of such type); <u>provided</u> <u>further</u> that a certificate of the Company as to the satisfaction of the conditions described in clause (iv) delivered

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to each Holder at least ten (10) Business Days prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of documentation relating thereto, stating that the Company has determined in good faith that such terms and conditions satisfy the foregoing requirements of clause (iv), shall be conclusive, unless Holders (constituting Requisite Holders) notify the Company within such ten (10) Business Day period that such Holders (constituting Requisite Holders) disagree, in each Holder's commercially reasonable judgment, with such determination.

"<u>Permitted Indebtedness</u>" 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness under the Notes, including any Indebtedness resulting from payment-in-kind interest paid in respect of the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Indebtedness of the Company or other Loan Parties (as defined in the Senior Credit Agreement) in favor of the Senior Lender or the Senior Agent arising under the Senior Credit Agreement or any other Loan Document (as defined in the Senior Credit Agreement) not to exceed $120,000,000 in an aggregate amount outstanding at any time, as reduced from time to time by principal payments received by Senior Lender or Senior Agent with respect to the loans extended under the Senior Credit Agreement or any Loan Document (as defined in the Senior Credit 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness existing on the Closing Date which is disclosed in <u>Schedule 1A</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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness to trade creditors incurred 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;(v)&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Indebtedness in an aggregate principal amount not to exceed, together with the Permitted Convertible Debt set forth in <u>clause (xii)</u> below, $500,000,000 at any one time outstanding; <u>provided</u>, that such Subordinated Indebtedness shall not require cash payments of principal or any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier than, one hundred eighty (180) days after the Maturity Date; <u>provided</u>, <u>further</u>, that if the Company requests that the Holders execute a subordination agreement with respect to such Subordinated Indebtedness, the Holders shall execute a subordination agreement reasonably acceptable to the Holders, it being agreement that any such subordination agreement substantially in the form of the Intercreditor Agreement or the Junior Investor Subordination Agreement shall be deemed reasonably acceptable to the 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;(vi)&nbsp;&nbsp;&nbsp;&nbsp;reimbursement obligations in connection with letters of credit that are secured by cash and issued on behalf of the Company or a Subsidiary for real estate purposes in the ordinary course of business in an amount not to exceed $7,000,000 at any time outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;any Indebtedness incurred to finance the acquisition of any new vehicle fleet in an aggregate principal amount not to exceed $16,000,000 at any one time outstanding; <u>provided</u>, that such amount may be increased from time to time so long as the Company has provided notice to the Holders indicating the amount of the increase, the purposes of its use and the Requisite Holders consent to such increase;

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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;(viii)&nbsp;&nbsp;&nbsp;&nbsp;intercompany Indebtedness by a Notes Party to or in any other Notes 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;(ix)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness incurred to finance insurance premiums 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;(x)&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)&nbsp;&nbsp;&nbsp;&nbsp;unsecured Indebtedness in an aggregate principal amount not to exceed $500,000 at any one time outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)&nbsp;&nbsp;&nbsp;&nbsp;Permitted Convertible Debt in an aggregate principal amount not to exceed the sum of (i) $300,000,000 at any one time outstanding, *plus* (ii) uncapped additional principal amounts, so long as (A) no Event of Default has occurred and is continuing, (B) after giving pro forma effect to the incurrence of such Indebtedness, the Company is in compliance with Section 7.20 of the Senior Credit Agreement as of the most recent Test Period (as defined in the Senior Credit Agreement) and (C) solely with respect to any Indebtedness permitted pursuant to the foregoing <u>clause (ii)</u>, (x) any such Indebtedness is Subordinated Indebtedness and (y) any such Indebtedness shall not have cash payments of principal or any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier than, one hundred eighty (180) days after the Maturity Date; <u>provided</u>, that this clause (C) shall no longer be effective as of the first date an Initial Public Offering 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)&nbsp;&nbsp;&nbsp;&nbsp;extensions, refinancings and renewals of any Permitted Indebtedness described in <u>clause (iii)</u> above, <u>provided</u> that the principal amount is not increased or the terms modified to impose materially more burdensome terms (including with respect to maturity date and amortization schedule, if any) upon the Company or the applicable Subsidiary, as the case may be, and subject to any limitations on aggregate amount of Indebtedness of such type, to the extent described in one of the foregoing clauses of this defined 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)&nbsp;&nbsp;&nbsp;&nbsp;intercompany Indebtedness that is unsecured and permitted pursuant to <u>clause (viii)</u> of the definition of Permitted Investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv)&nbsp;&nbsp;&nbsp;&nbsp;guarantees of the Company in respect of Indebtedness of the Company to the extent permitted under Section 6.2(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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness arising from a bank or other financial institution honoring a check, draft or similar instrument (other than resulting from any overdraft) 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;(xvii)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness incurred in respect of Cash Management Services, in each case, incurred 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;(xviii)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness arising under performance, payment, surety, customs, stay, bid or appeal bonds, performance and completion guaranties and similar instruments, in each case in the ordinary course of business and not in connection with any Indebtedness for borrowed

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money; <u>provided</u> that an aggregate amount of such Indebtedness shall not exceed $2,000,000 at any time outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xix)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness consisting of Contingent Obligations in connection with any equity exchange program involving the issuance of equity awards under the Company's equity incentive plans; <u>provided</u> that any cash payments made in connection with such Indebtedness shall only be made pursuant to an Equity Cash Payment Transaction that satisfies the Equity Cash Payment Conditions pursuant to <u>Section 6.2(e)</u>; 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;(xx)&nbsp;&nbsp;&nbsp;&nbsp;reimbursement obligations in connection with letters of credit that are secured by cash and issued on behalf of the Company or a Subsidiary for any other purposes in the ordinary course of business in an amount not to exceed $5,000,000 at any time outstanding.

"<u>Permitted Investment</u>" 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;Investments existing on the Closing Date which are disclosed in <u>Schedule 1B</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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;(i) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof maturing within one year from the date of acquisition thereof currently having a rating of at least A-2 or P-2 from either Standard & Poor's Corporation or Moody's Investors Services, (ii) commercial paper maturing no more than one year from the date of creation thereof and currently having a rating of at least A-2 or P-2 from either Standard & Poor's Corporation or Moody's Investors Services, (iii) certificates of deposit issued by any bank with assets of at least $500,000,000 maturing no more than one year from the date of investment therein, (iv) money market accounts, and (v) Investments permitted by the Company's investment policy, <u>provided</u> that Agent has approved such investment policy in writing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Repurchases by Company of its equity interests issued to departing managers, advisory members, officers, employees, consultants, directors or other service providers of Company, or departing officers, employees, consultants or other consultants of any Notes Party who are acting in such capacity on behalf of Company of equity interests of the Company, <u>provided</u> that the aggregate amount of such repurchases per Fiscal Year shall not exceed $1,000,000 per Fiscal Year and no default known to Company or Event of Default shall have occurred or be 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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Investments accepted in connection with Permitted Transfers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Investments received in connection with the bankruptcy or reorganization of a customer or supplier 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;(vi)&nbsp;&nbsp;&nbsp;&nbsp;Investments consisting of notes receivable of, or prepaid royalties and other credit extensions in the ordinary course of business in an aggregate amount outstanding not to exceed $5,000,000 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;loans and advances to, or guarantees of Indebtedness of, employees, directors, officers, managers, consultants or independent contractors in the ordinary course of business in an aggregate amount not to exceed $500,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Investments consisting of extensions of credit to or in (x) a Notes Party from another Notes Party, (y) any Subsidiary of the Company that is not a Notes Party from any other Subsidiary of the Company that is not a Notes Party or (z) so long as the Company and its Subsidiaries have Qualified Cash (as defined in the Senior Credit Agreement) of (i) at least $105,000,000 of Qualified Cash, any Subsidiary of the Company that is not a Notes Party (which, for the avoidance of doubt, shall be uncapped) from any Notes Party and (ii) less than $105,000,000 of Qualified Cash, in any Subsidiary of the Company that is not a Notes Party from any Notes Party in an aggregate amount outstanding at any time not to exceed $15,000,000; <u>provided</u>, that with respect to any extensions of credit by the Company or any other Notes Party to or in any Subsidiary of the Company that is not a Notes Party, no Event of Default has occurred and be continuing or would immediately result therefrom;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Investments in deposit accounts, subject to compliance with Section 7.12 in the Senior Credit 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;(x)&nbsp;&nbsp;&nbsp;&nbsp;The Company's entry into (including payments of premiums in connection therewith), and the performance of obligations under, any Permitted Bond Hedge Transactions and Permitted Warrant Transactions in accordance with their 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)&nbsp;&nbsp;&nbsp;&nbsp;Investments consisting of the leasing, licensing, sublicensing or contribution of Intellectual Property, in each case, on a nonexclusive basis and in the ordinary course of business or pursuant to non-exclusive joint marketing arrangements with other 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)&nbsp;&nbsp;&nbsp;&nbsp;Investments consisting of purchases or acquisitions of inventory, supplies, materials and equipment or Permitted Acquisitions, in each case 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;(xiii)&nbsp;&nbsp;&nbsp;&nbsp;[reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)&nbsp;&nbsp;&nbsp;&nbsp;Investments in connection with the cash management operations of Company and its Subsidiaries that constitute Permitted Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv)&nbsp;&nbsp;&nbsp;&nbsp;Licenses described in <u>clause (i)</u> of the definition of "Permitted 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;(xvi)&nbsp;&nbsp;&nbsp;&nbsp;guarantees of operating leases or of other obligations permitted under this Agreement that do not constitute Indebtedness, in each case, entered into by the Company 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;(xvii)&nbsp;&nbsp;&nbsp;&nbsp;Investments constituting the cashless repurchase of common stock of Company deemed to occur upon the exercise of options, warrants or similar rights solely to the extent that shares of such stock represent a portion of the exercise price of such options, warrants or similar 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xviii)&nbsp;&nbsp;&nbsp;&nbsp;Investments consisting of Contingent Obligations to the extent permitted in <u>clause (xix)</u> of the defined term "Permitted Indebtedness"; 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;(xix)&nbsp;&nbsp;&nbsp;&nbsp;additional Investments that do not exceed $500,000 in the aggregate.

"<u>Permitted Liens</u>" means, as at any time, any one or more 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;Liens in favor of the Senior Agent or Senior Lender under the Senior Credit 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Liens in respect of the Notes in favor of the 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Liens existing on the Closing Date which are disclosed in <u>Schedule</u> <u>1C</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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising by operation of law in favor of materialmen, artisans, mechanics, carriers warehouseman, landlords and other Persons securing ordinary course obligations which are not yet delinquent and not in connection with borrowed money;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Liens for Taxes, fees, assessments or other governmental charges or levies, either (i) not delinquent or (ii) being contested in good faith by appropriate proceedings, <u>provided</u> that the Company (or another appropriate Person) maintains adequate reserves therefor in accordance with GAAP;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Liens arising from judgments, decrees or attachments (or appeal or other surety bonds related to such judgments) in circumstances which do not 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;(vii)&nbsp;&nbsp;&nbsp;&nbsp;the following deposits, to the extent made in the ordinary course of business: deposits under worker's compensation, unemployment insurance, social security and other similar laws, or to secure the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure indemnity, performance or other similar bonds for the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure statutory obligations (other than Liens arising under ERISA or environmental Liens) or surety or appeal bonds, or to secure indemnity, performance or other similar bonds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;leasehold interests in leases or subleases and licenses granted in the ordinary course of business and not interfering in any material respect with the business of the licensor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Liens on equipment, software embedded in such equipment, and proceeds thereof, which (i) secure Indebtedness described in <u>clause (vii)</u> of the definition of Permitted Indebtedness or (ii) exist at the time such equipment is acquired 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;(x)&nbsp;&nbsp;&nbsp;&nbsp;Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of custom duties that are promptly paid on or before the date they become due;

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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;(xi)&nbsp;&nbsp;&nbsp;&nbsp;Liens in connection with Indebtedness described in <u>clause (ix)</u> of the definition of Permitted Indebtedness, <u>provided</u> that such Lien is limited to insurance proceeds arising from the subject insurance policy and the unearned portion of premium payments, and <u>provided</u> that financed premium payments are paid when due;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)&nbsp;&nbsp;&nbsp;&nbsp;statutory and common law rights of set-off and other similar rights as to deposits of cash and securities in favor of banks, other depository institutions and brokerage firms or securities intermediaries solely to secure payment of amounts due in the ordinary course of business in connection with the maintenance of deposit accounts or securities accounts, each as defined in and under the Uniform Commercial Code of the applicable 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)&nbsp;&nbsp;&nbsp;&nbsp;easements, servitudes, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business so long as they do not materially impair the value or marketability of the related property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)&nbsp;&nbsp;&nbsp;&nbsp;licenses described in <u>clause (i)</u> of the definition of Permitted 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;(xv)&nbsp;&nbsp;&nbsp;&nbsp;(i) Liens on cash securing obligations permitted in accordance with <u>clause (vi)</u> of the defined term "Permitted Indebtedness" in an aggregate amount not to exceed the reimbursement obligation secured, and (ii) security deposits in connection with real property leases in the ordinary course of business; 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;(xvi)&nbsp;&nbsp;&nbsp;&nbsp;Liens incurred in connection with the extension, renewal or refinancing of the Indebtedness secured by Liens of the type described in <u>clause (i) or (ii)</u> above; <u>provided</u>, that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the Indebtedness being extended, renewed or refinanced (as may have been reduced by any payment thereon) does not increase, and subject to any limitation with respect to the amount secured by such Lien of such type, to the extent described in one of the foregoing clauses of this defined term.

"<u>Permitted Transfer</u>" 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;(x) non-exclusive licenses and similar arrangements for the use of Intellectual Property in the ordinary course of business, (y) licenses that could not result in a legal transfer of title of the licensed property that may be exclusive in respects other than territory or may be exclusive as to territory but only as to discreet geographical areas outside of the United States in the ordinary course of business and (z) other exclusive licenses in the ordinary course of business; <u>provided</u>, that (A) at any time such license is in effect, (B) such license shall only be entered into with third parties on commercially reasonable terms and (C) any licenses with Subsidiaries shall be on an arms-length basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;dispositions of worn-out, used, decommissioned, obsolete or surplus Equipment (as defined in the Uniform Commercial Code) in the ordinary course of business, including any dispositions of vehicle fleet;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;use of cash in the ordinary course of business in a manner not prohibited by the terms of 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;transfers, sales or other dispositions among the Company and its Subsidiaries; 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;(v)&nbsp;&nbsp;&nbsp;&nbsp;other dispositions of assets having a fair market value of not more than $250,000 in the aggregate in any Fiscal Year.

"<u>Permitted Warrant Transaction</u>" means any call option, warrant or right to purchase (or substantively equivalent derivative transaction) relating to the Company's common stock (or other securities or property following a merger event or other change of the common stock of the Company) and/or cash (in an amount determined by reference to the price of such common stock) sold by the Company substantially concurrently with any purchase by the Company of a related Permitted Bond Hedge Transaction and as may be amended in accordance with its terms; <u>provided</u> that (x) that the terms, conditions and covenants of each such call option transaction are customary for agreements of such type, as determined by the Company in its commercially reasonable discretion, and (y) such call option transaction would be classified as an equity instrument in accordance with GAAP.

"<u>Person</u>" means any legal or natural person, corporation, company (including any limited liability company), firm, joint venture, sole proprietorship, partnership, whether general, limited or undeclared, trust, association, institution, unincorporated organization, Governmental Authority or other entity of whatever nature.

"<u>Plan</u>" means any employee benefit plan within the meaning of Section 3(3) of ERISA, maintained for employees of the Company or any Subsidiary, or any such plan to which the Company or any Subsidiary is required to contribute on behalf of any of its employees or with respect to which the Company or any Subsidiary has any liability.

"<u>Purchasers</u>" has the meaning set forth in the introductory paragraph hereto.

"<u>Reportable Event</u>" means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30-day notice period has been waived.

"<u>Requisite Holders</u>" means (i) each of Uber, a majority-in-interest of the Highbridge Holders and a majority-in-interest of the Fidelity Holders (and their respective affiliates), for so long as Uber, the Fidelity Holders and the Highbridge Holders (and their respective affiliates) continue to hold, in the aggregate, 75% of the Notes held by Uber, the Fidelity Holders and the Highbridge Holders as of the date hereof; or (ii), if Uber, the Fidelity Holders and the Highbridge Holders (and their respective affiliates) are unable to unanimously approve the action in question or if Uber, the Fidelity Holders and the Highbridge Holders (and their respective affiliates) hold, in the aggregate, less than 75% of the Notes held by Uber, the Fidelity Holders and the Highbridge Holders as of the date hereof, the one or more Holders holding a majority of the aggregate principal amount of outstanding Notes.

"<u>Restated Certificate</u>" means the Company's Amended and Restated Certificate of Incorporation, as amended and/or restated from time to time.

"<u>ROFR Agreement</u>" means the Right of First Refusal and Co-Sale Agreement, dated as of May 7, 2020, by and among the Company and certain other stockholders of the

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Company party thereto, as amended, restated, supplemented or otherwise modified from time to time.

"<u>Sanctioned Entities</u>" means (i) a country or a government of a country, (ii) an agency of the government of a country, (iii) an organization directly or indirectly controlled by a country or its government, (iv) a Person resident in or determined to be resident in a country, in each case, that is subject to a country sanctions program administered and enforced by OFAC or other relevant sanctions authority.

"<u>Sanctioned Person</u>" means a Person named on the list of Specially Designated Nationals maintained by OFAC.

"<u>Schedule of Purchasers</u>" has the meaning set forth in the introductory paragraph hereto.

"<u>Secured Parties</u>" means each Holder and the Collateral Agent.

"<u>Security Agreement</u>" means that certain Security Agreement dated as of the date hereof by the Notes Parties in favor of the Collateral Agent, for the benefit of the Secured Parties, as amended, restated, supplemented or otherwise modified from time to time.

"<u>Security Documents</u>" means, collectively, all present and future documents, agreements and instruments pursuant to which any Notes Party grants a Lien to or for the benefit of the Collateral Agent on behalf of the Secured Parties, alone or together with any other Person, in any of its Assets securing all or any part of the Obligations, including the Security Agreement, any Control Agreements and intellectual property security agreements.

"<u>Senior Agent</u>" means Wilmington Trust, National Association, in its capacity as administrative agent and collateral agent for the Senior Lender under the Senior Credit Agreement.

"<u>Senior Credit Agreement</u>" means the Credit Agreement, dated as of June 4, 2021, as amended by that certain First Amendment to Credit Agreement, dated as of July 30, 2021, and as further amended by that certain Second Amendment to Credit Agreement, dated as of September 27, 2021 (as may be further amended, restated, supplemented or otherwise modified from time to time) between the Company as borrower, the Senior Lender and the Senior Agent or, to the extent the Senior Indebtedness is refinanced, any other credit agreement or similar agreement evidencing the refinanced Senior Indebtedness.

"<u>Senior Indebtedness</u>" means the indebtedness and other obligations of the Company under the Senior Credit Agreement and the other Loan Documents (as defined in the Senior Credit Agreement) and any refinancing(s) thereof; <u>provided</u> that the aggregate principal amount of such refinancing Indebtedness shall not exceed the outstanding aggregate principal amount of the Senior Indebtedness as of the Closing Date.

"<u>Senior Intercreditor Agreement</u>" means the Subordination and Intercreditor Agreement, dated as of the date hereof, by and among the Collateral Agent, the Purchasers, the Senior Agent and the Notes Parties, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof.

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"<u>Senior Lender</u>" means Clover Private Credit Opportunities Origination II LP, a Delaware corporation, as the lender under the Senior Credit Agreement or, to the extent the Senior Indebtedness is refinanced, the lender for such refinanced Senior Indebtedness.

"<u>Senior Obligations</u>" means the "Secured Obligations" as defined in the Senior Credit Agreement.

"<u>Solvent</u>" means as to any Person, such Person (a) owns Assets whose fair salable value (as defined below) is greater than the amount required to pay all of its debts as they become matured; (b) owns Assets whose present fair salable value is greater than the probable total liabilities (including contingent, subordinated, unmatured and unliquidated liabilities) of such Person as they become absolute and matured; (c) has capital that is not unreasonably small for its business and is sufficient to carry on its business and transactions and all business and transactions in which it is about to engage; (d) is not "<u>insolvent</u>" within the meaning of Section 101(32) of the Bankruptcy Code; and (e) has not incurred (by way of assumption or otherwise) any obligations or liabilities (contingent or otherwise) under any Notes Documents, or made any conveyance in connection therewith, with actual intent to hinder, delay or defraud either present or future creditors of such Person or any of its Affiliates. "<u>Fair salable value</u>" means the amount that could be obtained for assets within a reasonable time, either through collection or through sale under ordinary selling conditions by a capable and diligent seller to an interested buyer who is willing (but under no compulsion) to purchase.

"<u>Stock Plan</u>" means the Company's equity incentive plan duly adopted by the Board and approved by the Company stockholders.

"<u>Subagent</u>" has the meaning set forth in Section 9.

"<u>Subordinated Indebtedness</u>" means Indebtedness subordinated to the obligations in respect of the Notes in amounts and subject to a subordination agreement on customary deep subordination terms.

"<u>Subsidiaries</u>" means, with respect to any Person, any other Person of which an aggregate of more than 50% of the outstanding Capital Stock having ordinary voting power to elect a majority of the board of directors (or other applicable governing body) of such other Person is at the time, directly or indirectly, owned legally or beneficially by such Person or one or more Subsidiaries of such Person, or a combination thereof, or with respect to which any such Person has the right to vote or designate the vote of more than 50% of such Capital Stock whether by proxy, agreement, operation of Law or otherwise. Unless the context otherwise requires, each reference to a Subsidiary shall mean a Subsidiary of the Company.

"<u>Tax</u>" means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

"<u>Transaction Documents</u>" means the Notes Documents, the Investors' Rights Agreement, the Voting Agreement and the ROFR Agreement.

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"<u>UBER Guarantee Agreement</u>" means the Guarantee dated as of May 7, 2020 (as may be amended, restated, supplemented or otherwise modified from time to time), among the Subsidiaries of the Company from time to time party thereto and Uber.

"<u>UBER Note Purchase Agreement</u>" means the Note Purchase Agreement dated as of May 7, 2020 (as may be amended, restated, supplemented or otherwise modified from time to time), among the Company and Uber.

"<u>Voting Agreement</u>" means the Voting Agreement, dated as of May 7, 2020, by and among the Company and certain other stockholders of the Company, as amended from time to time.

"<u>written</u>" or "<u>in writing</u>" shall include printing, typewriting, or any electronic means of communication capable of being visibly reproduced at the point of reception including telecopier and electronic data interchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amount and Terms of the Notes</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>Issuance of Notes</u>. In return for the Consideration paid by each Purchaser, the Company shall sell and issue to such Purchaser one or more secured Notes. Each Note shall have a principal balance equal to that portion of the Consideration paid by such Purchaser for the Note, as set forth in the Schedule of Purchasers. Each Note shall be convertible into Conversion Shares pursuant to the terms of each Note and shall be secured by the assets of the Company as described in such Notes and any related security agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Closing Mechanics</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>Initial Closing</u>. The initial closing (the "<u>Initial Closing</u>") of the purchase of the Notes in return for the Consideration paid by each Purchaser shall take place remotely via the exchange of signatures on the date hereof, or at such other time and place as the Company and Purchasers purchasing a majority in interest of the aggregate principal amount of the Notes to be sold at the Initial Closing agree upon orally or in writing. At the Initial Closing, each Purchaser shall deliver the Consideration to the Company subject to and conditional upon the prior fulfillment of the following conditions by the Company to the entire satisfaction of (unless otherwise waived in writing by) the Purchasers:

&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;On or prior to the Closing Date, the Purchasers shall have received from the Company the following, each dated as of a date satisfactory to the Purchasers and in form and substance entirely satisfactory to the Purchasers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;this Agreement duly executed by the Purchasers, the Collateral Agent 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;one or more executed Notes in return for the respective Consideration provided to the Company by each such Purchaser;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;the Senior Intercreditor Agreement duly executed by the Collateral Agent, the Purchasers, the Senior Agent and each Notes Party;

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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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the Intercreditor Agreement duly executed by the Collateral Agent, the Purchasers, Uber. and each Notes 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;(v)&nbsp;&nbsp;&nbsp;&nbsp;the Junior Investor Subordination Agreement duly executed by the Collateral Agent, the Purchasers, Required Lenders (as defined in the Junior Note Purchase Agreement), and each Notes 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;(vi)&nbsp;&nbsp;&nbsp;&nbsp;an amendment to each of the UBER Note Purchase Agreement, the UBER Guarantee Agreement and the Security Documents (as defined in the UBER Note Purchase Agreement), duly executed by Uber 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;the Adoption Agreement duly executed by the parties 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;the Guarantee Agreement duly executed by the Purchasers and each Guarantor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Security Agreement duly executed by the Collateral Agent and each Notes 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;(x)&nbsp;&nbsp;&nbsp;&nbsp;the results of Lien searches of all filings, registrations or recordings of or with respect to all of the Assets of each Notes Party in each of their respective jurisdictions of organization, together with such other documents that the Purchasers shall require evidencing, to the satisfaction of the Purchasers, that all such Assets are free and clear of all Liens, other than Permitted Liens, and that the Liens under the Security Documents constitute valid and enforceable first ranking Liens in each such jurisdiction against the Collateral securing the Obligations, subject only to 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;(xi)&nbsp;&nbsp;&nbsp;&nbsp;(i) UCC-1 financing statements that upon filing perfect the security interests of the Collateral Agent, for the benefit of the Secured Parties in the assets of each Notes Party pledged to the Collateral Agent, for the benefit of the Secured Parties, as Collateral pursuant to the Security Agreement and (ii) all intellectual property security agreements requested by Collateral Agent in form to be properly filed and recorded in the United States Patent and Trademark Office or the United States Copyright Office, 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;(xii)&nbsp;&nbsp;&nbsp;&nbsp;certified copies of the articles or certificate of incorporation or other registered organizational documents from the Secretary of State (or equivalent body) of the jurisdiction of incorporation of each Notes 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;(xiii)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of good standing or existence of each Notes Party dated as of a recent date from the Secretary of State (or equivalent body) of its respective jurisdiction of incorporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of an Authorized Officer of each Notes Party, dated the Closing Date, certifying as to the bylaws and resolutions attached thereto, the incumbency of officers signatory thereto and other corporate proceedings relating to the authorization, execution and delivery of the Notes, this Agreement and the other Transaction Documents;

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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;(xv)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the chief financial officer of the Company, dated the Closing Date, certifying that the Company and its Subsidiaries (on a consolidated basis) are Solvent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi)&nbsp;&nbsp;&nbsp;&nbsp;an officer's certificate of an Authorized Officer of the Company, dated the Closing Date, certifying that the conditions specified in Sections 3.1(b) and (c) have been fulfilled;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii)&nbsp;&nbsp;&nbsp;&nbsp;opinions in favor of the Purchasers and the Collateral Agent, in form and substance satisfactory to the Purchasers, dated the Closing Date, from Latham & Watkins LLP, as New York special counsel for the Company (and the Company hereby instructs its special counsel to deliver such opinion to the Purchasers and the Collateral Agent);

&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 representations and warranties of the Company in this Agreement shall (i) with respect to representations and warranties that contain a materiality qualification, be true and correct when made and at the time of and immediately after giving effect to the Initial Closing, and (ii) with respect to representations and warranties that do not contain a materiality qualification, be true and correct in all material respects when made and at the time of and immediately after giving effect to the 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;before and after giving effect to the issue and sale of the Notes (and the application of the proceeds thereof as contemplated by <u>Section 6.1(e)</u>, no Default or Event of Default shall have occurred and be 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;on the Closing Date, each purchase of Notes shall (i) be permitted by the laws and regulations of each jurisdiction to which each Purchaser is subject and (ii) not violate any applicable law or regulation (including Regulation T, U or X of the Board of Governors of the Federal Reserve System). If requested by any Purchaser in writing at least one (1) Business Day prior to the Initial Closing, such Purchaser shall have received an Officer's Certificate from the Company certifying as to such matters of fact as such Purchaser may reasonably specify to enable such Purchaser to determine whether such purchase is so permitted;

&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;all approvals, authorizations, consents or orders of and filings, registrations and qualification with, any Governmental Authority required in connection with the execution, delivery and performance of this Agreement and the other Transaction Documents by the Notes Parties and the consummation of the transactions contemplated herein or thereunder shall have been obtained; 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;subject to <u>Section 10.7</u>, the Company shall have paid on or before the Initial Closing the reasonable fees, charges and disbursements of Paul, Weiss, Rifkind, Wharton & Garrison LLP, counsel for certain Purchasers, Fenwick & West LLP, counsel for the Purchasers affiliated with the Fidelity Holders and Porter Hedges LLP, counsel for the Collateral Agent.

&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>Tax Matters</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;The parties hereto intend that the Notes shall be treated as debt for U.S. federal and applicable state, local and foreign income tax purposes and will report consistently with such intended treatment for all applicable tax purposes, except as otherwise required by Law.

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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;Each Purchaser shall provide the Company with a properly completed IRS Form W-9 on or prior to the applicable Closing Date and shall update or replace such IRS Form W-9 as and to the extent required by Law or upon reasonable request by the Company. Each Purchaser acknowledges that any interest payable hereunder may be subject to withholding taxes if such Purchaser fails to comply with its obligations under this <u>Section 3.2(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties of the Company</u>. In connection with the transactions provided for herein, the Company hereby represents and warrants to the Purchasers that, except as set forth on the Disclosure Schedule provided to the Purchasers, which exceptions shall be deemed to be part of the representations and warranties made hereunder (for purposes of these representations and warranties (other than Sections 4.2, 4.4, 4.6, 4.14, 4.18 and 4.21) the term the "Company" shall include any Subsidiary (A) that owns assets that represent more than 5% of the consolidated assets of the Company and its Subsidiaries or (b) has gross revenues that represent more than 5% of the consolidated gross revenues of the Company's consolidated gross revenues, which as of the date hereof are: Lime S.A.R.L. , Lime Network B.V. and Lime Electric Ireland Limited):

&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>Organization, Good Standing and Qualification</u>. The Company is a corporation duly organized, validly existing, and in good standing under the laws of the jurisdiction in which it was incorporated or organized and has all requisite corporate power and authority to carry on its business as now conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a Material Adverse Effect on its business or properties.

&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>Authorization</u>. Except for the authorization and issuance of the shares issuable in connection with any Corporate Transaction or Initial Public Offering with respect to the Company and those disclosed in <u>Schedule 4.2</u>, all corporate action has been taken on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Agreement, the Notes and the other Notes Documents. Except as may be limited by applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors' rights, the Company has taken all corporate action required to make all of the obligations of the Company reflected in the provisions of this Agreement, the Notes and the other Notes Documents, the valid and enforceable obligations they purport to be. Except as otherwise indicated in this <u>Section 4.2</u>, the issuance of the Notes, or their subsequent conversion into Conversion Shares, will not be subject to the preemptive rights of any stockholder 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;4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Other Instruments</u>. Neither the authorization, execution and delivery of this Agreement, nor the issuance and delivery of the Notes will constitute or result in a material default or violation of any law or regulation applicable to the Company or any material term or provision of the Company's current Certificate of Incorporation or bylaws or any material agreement or instrument by which it is bound or to which its properties or assets are subject.

&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>Valid Issuance of Common Stock and Preferred Stock</u>. The Conversion Shares to be issued, sold and delivered upon conversion of the Notes will be duly and validly issued, fully paid and nonassessable and, based in part upon the representations and warranties of

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the Purchasers in this Agreement, will be issued in compliance with all applicable federal and state 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;4.5&nbsp;&nbsp;&nbsp;&nbsp;<u>No Litigation and Other Proceedings</u>. Except for the litigation disclosed in <u>Schedule 4.5</u>, there is no litigation, action or other legal proceeding pending or known to be threatened in writing against the Company the adverse determination of which would have a Material Adverse Effect or would be reasonably likely to result in a liability of the Company in excess of $1,000,000, or against any officer, director or Key Employee of the Company arising out of their employment or board relationship with 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;4.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Financial Statements of the Company</u>. The Company has delivered to each Purchaser its unaudited balance sheet and income statements as of, and for the eight months ended, August 31, 2021 (the "<u>Financial Statement Date</u>") and as of and for the year ended December 31, 2020 (the "<u>Balance Sheet Date</u>") (the "<u>Financial Statements</u>"). The Financial Statements have been prepared in accordance with generally accepted accounting principles ("<u>GAAP</u>") applied on a consistent basis throughout the periods indicated, except that the unaudited Financial Statements may not contain all footnotes required by GAAP. The Financial Statements fairly present in all material respects the financial condition and operating results of the Company as of the dates, and for the periods, indicated therein, subject in the case of the unaudited Financial Statements to normal year-end audit adjustments. Except as set forth in the Financial Statements, the Company has no material liabilities or obligations, contingent or otherwise, other than (i) liabilities incurred in the ordinary course of business subsequent to the Balance Sheet Date; (ii) obligations under contracts and commitments incurred in the ordinary course of business; and (iii) liabilities and obligations of a type or nature not required under GAAP to be reflected in the Financial Statements, which, in all such cases, individually and in the aggregate would not have a Material Adverse Effect. The Company maintains and will continue to maintain a standard system of accounting established and administered in accordance with GAAP.

&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 Judgments</u>. To the knowledge of the Company, there are no outstanding material judgments, writs of execution, work orders, notices of deficiency capable of resulting in material work orders, injunctions or directives, in each case, in writing, against the Company or any of its Assets, except those disclosed in <u>Schedule 4.7</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;4.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Title to Assets; No Liens</u>. The Company is the owner of, and has good and marketable title to, all its Collateral, and the same are free and clear of all Liens, except for 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;4.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Intellectual Property</u>. <u>Schedule 4.9</u> sets forth a complete list and a description at the date hereof of all material and registered Intellectual Property owned by the Company used in the Business of the Company. The Company owns the Intellectual Property free and clear of any Liens (other than Permitted Liens). The Company owns or licenses all Intellectual Property required to be able to carry-on its business as now conducted and as proposed to be conducted and all such licenses are in full force and effect. To the Company's knowledge, no product or service marketed or sold (or proposed to be marketed or sold) by the Company violates or will violate any license or infringes or will infringe any intellectual property rights of any other Person. Except as those disclosed in <u>Schedule 4.9</u>, the Company has not received any communications alleging that the Company has violated, or by conducting its business, would

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violate any of the patents, trademarks, service marks, tradenames, copyrights, trade secrets, mask works or other intellectual property or proprietary rights or processes of any other Person, and the Company is not aware of any potential basis for such an allegation or of any reason to believe that such an allegation may be forthcoming. No software that has been licensed to the Company under any open source or copyleft license, in whole or in part, is used in, incorporated into, embedded in, combined with, linked with or distributed with any products or software that are owned, or purported to be owned, by the Company in such a manner that would obligate the Company to (other than with respect to such software governed by the open source or copyleft license, in its unmodified form): (a) disclose, distribute or license the source code of any product or software that the Company owns or purports to own; (b) require that the Company disclose, distribute or license any product or software that the Company owns or purports to own, at no charge; or (c) require the Company to permit any other person to access, modify, make derivative works of or reverse-engineer the source code of any products or software that the Company owns or purports to own.

&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>Employee Agreements</u>. Each current and former Key Employee of the Company has executed an agreement with the Company regarding confidentiality and proprietary information substantially in the form or forms delivered to the counsel for the Purchasers (the "<u>Confidential Information Agreements</u>"). No current or former Key Employee has excluded works or inventions from his or her assignment of inventions pursuant to such Key Employee's Confidential Information Agreement. The Company is not aware that any of its Key Employees is in violation of any agreement covered by this <u>Section 4.10</u>. The Company is not delinquent in any material payments to any of its employees, consultants, or independent contractors for any wages, salaries, commissions, bonuses, or other direct compensation for any service performed for it to the date hereof or amounts required to be reimbursed to such employees, consultants or independent contractors. The Company has complied in all material respects with all applicable state and federal equal employment opportunity laws and with other laws related to employment, including those related to wages, hours, worker classification and collective bargaining. Except for those disclosed in <u>Schedule 4.10</u>, to the Company's knowledge, no Key Employee intends to terminate employment with the Company or is otherwise likely to become unavailable to continue as a Key Employee, nor does the Company have a present intention to terminate the employment of any of 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;4.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Agreements; Actions.</u> Except for the Transaction Documents and the Senior Credit Agreement, there are no agreements, understandings, instruments, contracts or proposed transactions to which the Company is a party or by which it is bound that involve (i) except for those set forth in <u>Schedule 4.11A</u>, obligations (contingent or otherwise) of, or payments to, the Company in excess of $10,000,000 or (ii) except for those set forth in <u>Schedule 4.11B</u>, the license of any patent, copyright, trademark, trade secret or other proprietary right to or from the Company. The Company has not declared or paid any dividends, or authorized or made any distribution upon or with respect to any class or series of its Capital 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;4.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Transactions</u>. Since May 7, 2020, except for those set forth in <u>Schedule 4.12</u>, other than (i) standard employee benefits generally made available to all employees, (ii) standard director and officer indemnification agreements approved by the Board, and (iii) the purchase of shares of the Company's Capital Stock and the issuance of options to purchase shares of the Company's Common Stock, in each instance, approved in the written

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minutes of the Board (previously provided to the Purchasers or their counsel), there are no agreements, understandings or proposed transactions between the Company and any of its officers, directors, consultants, Key Employees or Major Investors (as defined in the Investors' Rights Agreement), or any Affiliate 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;4.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Laws and Other Agreements</u>. To the Company's knowledge, except for those set forth in <u>Schedule 4.13</u>, the Company is not in material violation of (i) any Applicable Law, where such violation would materially affect the Company's ability to continue business operations in the relevant jurisdiction, or (ii) any Material Contract . Neither the Company nor any of its directors or officers has made or received any improper payments to, or by, any governmental official or employee, any political party, official of a political party, official of any public organization or anyone else acting in an official capacity, in order to give, obtain, retain or direct business or obtain any improper advantage. The Company has taken reasonable measures appropriate to the circumstances (in any event as required by Applicable Law) to ensure that the Company and its Affiliates is and will continue to be in compliance with all applicable anti-corruption and money-laundering laws and regulations applicable to it.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Corporate Documents</u>. The Restated Certificate and Bylaws of the Company are in the form provided to the Purchasers. The copy of the minute books of the Company made available to the Purchasers contains minutes of all meetings of directors and stockholders and all actions by written consent without a meeting by the directors and stockholders requested by the Purchasers and accurately reflects in all material respects all actions by the directors (and any committee of directors) and stockholders with respect to all transactions referred to in such minutes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights of Registration and Voting Rights</u>. Except as provided in the Investors' Rights Agreement, the Company is not under any obligation to register under the Act, as amended, any of its currently outstanding securities or any securities issuable upon exercise or conversion of its currently outstanding securities. To the Company's knowledge, except as contemplated in the Voting Agreement, no stockholder of the Company has entered into any agreements with respect to the voting of capital shares 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;4.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>. Except for those set forth in <u>Schedule 4.16</u>, Company and its Subsidiaries have filed all material Tax returns which are required to be filed by the Company or its Subsidiary and have paid all material Taxes which have become due except for any such payment of which the concerned party is contesting in good faith by appropriate proceedings and for which appropriate reserves have been provided on the books of the relevant Company or Subsidiary. The charges, accruals and reserves on the books of the Company and each Subsidiary in respect of Tax are adequate*.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Security Documents, Liens</u>. Each of the Security Documents creates a valid and enforceable perfected Lien in all the Collateral of the Company party thereto, subject only to 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;4.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Company's Jurisdiction and Capital Stock</u>.

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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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Listed on <u>Schedule 4.18(a)</u> are (i) the Company's Subsidiaries, including for each such Subsidiary its current jurisdiction of incorporation or constitution and its full current name and (ii) the number and owner of all issued and outstanding Capital Stock owned by such Notes Party and the nature and percentage of such ownership 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Company has reserved 5,111,090,530 shares of Common Stock for issuance pursuant to the Stock Plan. Of such reserved shares of Common Stock, no shares have been issued pursuant to restricted stock purchase agreements (other than, for the avoidance of doubt, shares issued pursuant to the early exercise of options), options to purchase 2,656,090,127 shares have been granted and are currently outstanding, and 937,070,790 shares of Common Stock remain available for issuance to officers, directors, employees and consultants pursuant to the Stock 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;The full capitalization of the Company as of September 1, 2021 has been disclosed in diligence materials made available to the Purchaser and is accurate and complete in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;All outstanding shares of the Common Stock and all shares of the Common Stock underlying outstanding options are subject to (i) a right of first refusal in favor of the Company upon any proposed transfer (other than transfers for estate planning and other customary purposes); and (ii) a lock-up or market standoff agreement of not less than one hundred eighty (180) days following the Initial Public Offering pursuant to a registration statement filed with the Securities and Exchange Commission 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Except as disclosed in diligence materials made available to the Purchaser, none of the Company's stock purchase agreements or stock option documents contains a provision for acceleration of vesting (or lapse of a repurchase right) or other changes in the vesting provisions or other terms of such agreement or understanding upon the occurrence of any event or combination of events, including without limitation in the case where the Company's Stock Plan is not assumed in an acquisition. The Company has never adjusted or amended the exercise price of any stock options previously awarded, whether through amendment, cancellation, replacement grant, repricing, or any other means. Except as set forth in the Restated Certificate, the Company has no obligation (contingent or otherwise) to purchase or redeem any of its Capital 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>409A</u>. The Company believes in good faith that any "nonqualified deferred compensation plan" (as such term is defined under Section 409A(d)(1) of the Code and the guidance thereunder) under which the Company makes, is obligated to make or promises to make, payments (each, a "<u>409A Plan</u>") complies in all material respects, in both form and operation, with the requirements of Section 409A of the Code and the guidance thereunder. To the knowledge of the Company, no payment to be made under any 409A Plan is, or will be, subject to the penalties of Section 409A(a)(1) 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;(g)&nbsp;&nbsp;&nbsp;&nbsp;The Company has obtained valid waivers of any rights by other parties to purchase any of the Notes covered by 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;4.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Labor Matters</u>. There is no obligation of the Company under any collective agreements or under any consulting or management agreement requiring payments which cannot be cancelled without material liability. There are no complaints or charges against the Company pending or threatened in writing to be filed with any Governmental Authority or arbitrator based on, arising out of, in connection with, or otherwise relating to the employment or termination of employment of any individual 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;4.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Indebtedness</u>. The Company does not have any Indebtedness, other than as expressly permitted under <u>Section 6.2(a)</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;4.21&nbsp;&nbsp;&nbsp;&nbsp;<u>Corporate Chart</u>. There has been no material change to the structure of the Company and its respective Subsidiaries as set forth in <u>Schedule 4.21</u> that would be detrimental to the Collateral and priority ranking of any Lien granted to the Purchasers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Leased Real Property</u>. <u>Schedule 4.22</u> contains a full and accurate description of all property and real estate leased by the Company, including a legal description of all such property in which it has a real right and the name and address of the landlord of any leased premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.23&nbsp;&nbsp;&nbsp;&nbsp;<u>Solvency</u>. As of the Closing Date, on a consolidated basis, the Company is Solvent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.24&nbsp;&nbsp;&nbsp;&nbsp;<u>Investment Company</u>. The Company is not an "investment company" nor a company "controlled" by an "investment company" within the meaning of the Investment Company Act of 1940, 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;4.25&nbsp;&nbsp;&nbsp;&nbsp;<u>ERISA and Pension Plans</u>. (A) Except as could not reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect, (i) each Plan is in compliance with the applicable provisions of ERISA, the Code and other federal or state Laws and (ii) each Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the IRS to the effect that the form of such Plan is qualified under Section 401(a) of the Code and the trust related thereto has been determined by the IRS to be exempt from federal income tax under Section 501(a) of the Code, or an application for such a letter is currently being processed by the IRS, and, to the knowledge of the Company, nothing has occurred that would prevent or cause the loss of such tax-qualified status. (B) There are no pending or, to the knowledge of the Company, threatened or contemplated claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan that, either individually or in the aggregate, has had or could reasonably be expected to have a Material Adverse Effect. (C) No ERISA Event has occurred, and neither the Company nor any ERISA Affiliate is aware of any fact, event or circumstance that, either individually or in the aggregate, could reasonably be expected to constitute or result in an ERISA Event with respect to any Pension Plan that, either individually or in the aggregate, has had or could reasonably be expected to have a Material Adverse Effect. (D) The present value of all accrued benefits under each Pension Plan (based on those assumptions used to fund such Pension Plan) did not, as of the last annual valuation date prior to the date on which this representation is made or deemed made,

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exceed the value of the assets of such Pension Plan allocable to such accrued benefits by a material amount. As of the most recent valuation date for each Multiemployer Plan, the potential liability of the Company or any ERISA Affiliate for a complete withdrawal from such Multiemployer Plan (within the meaning of Section 4203 or Section 4205 of ERISA), when aggregated with such potential liability for a complete withdrawal from all Multiemployer Plans, is zero. (E) To the extent applicable, each Foreign Plan has been maintained in compliance with its terms and with the requirements of any and all applicable requirements of Applicable Law and has been maintained, where required, in good standing with applicable regulatory authorities, except to the extent that the failure so to comply could not reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect. Neither the Company nor any Subsidiary has incurred any material obligation in connection with the termination of or withdrawal from any Foreign Plan. The present value of the accrued benefit liabilities (whether or not vested) under each Foreign Plan that is funded, determined as of the end of the most recently ended Fiscal Year of the Company or Subsidiary, as applicable, on the basis of actuarial assumptions, each of which is reasonable, did not exceed the current value of the property of such Foreign Plan by a material amount, and for each Foreign Plan that is not funded, the obligations of such Foreign Plan are properly accrued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.26&nbsp;&nbsp;&nbsp;&nbsp;<u>OFAC</u>. The Company is not, to the knowledge of the Company, in violation of any of the country or list based economic and trade sanctions administered and enforced by OFAC. To the knowledge of the Company, the Company (i) is not a Sanctioned Person or a Sanctioned Entity, (ii) does not have any of its Assets located in Sanctioned Entities, and (iii) does not derive any revenues from investments in, or transactions with Sanctioned Persons or Sanctioned Entities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.27&nbsp;&nbsp;&nbsp;&nbsp;<u>FCPA</u>. Neither the Company, nor to the knowledge of the Company, no director, officer or employee of the Company or any Subsidiary, has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder or any other applicable anti-corruption law in any material respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.28&nbsp;&nbsp;&nbsp;&nbsp;<u>Anti-Terrorism</u>. Neither the Company nor any of its Subsidiaries, or to the knowledge of the Company, any director, officer, or employee of the Company or any of their Subsidiaries (i) is an "enemy" or an "ally of the enemy" within the meaning of Section 2 of the Trading with the Enemy Act of the United States (50 U.S.C. App. §§ 1 et seq.), or (ii) is in violation of (A) the Trading with the Enemy Act, (B) any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V) or any enabling legislation or executive order relating thereto or (C) the PATRIOT Act (collectively, the "<u>Anti-Terrorism Laws</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;4.29&nbsp;&nbsp;&nbsp;&nbsp;<u>Data Privacy</u>. To the Company's knowledge, the Company and its systems have not been subject to any data loss, data breach or other unauthorized access that resulted in the unauthorized access, use or disclosure of any personal information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30&nbsp;&nbsp;&nbsp;&nbsp;<u>Shell Company Status</u>. The Company is not, nor has it ever been, an issuer identified in Rule 144(i)(1) promulgated under the Securities Act.

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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;4.31&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Agreements</u>. The Company has not entered, and will not enter, into any agreement or understanding with any Purchaser purchasing Notes with respect to the transactions contemplated by this Agreement other than as specified herein or in one of the Notes Documents. For the avoidance of doubt, each Purchaser has the same rights with respect to the purchase of Notes as each of the other Purchasers other than as explicitly set forth in herein or in the Notes Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.32&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclosure; Projections</u>. To the Company's knowledge, no representation or warranty of the Company contained in this Agreement, as qualified by the schedules hereto, no certificate furnished or to be furnished to Purchasers prior to or on the Closing Date contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained herein or therein not misleading in light of the circumstances under which they were made. The financial projections provided to the Purchasers for 2021, 2022 and 2023 were prepared by the Company in good faith; however, the Company does not warrant that it will achieve any results projected in such financial projections, particularly in light of the COVID-19 pandemic. It is understood that this representation is qualified by the fact that the Company has not delivered to the Purchasers, and has not been requested to deliver, a private placement or similar memorandum or any written disclosure of the types of information customarily furnished to the Purchasers of securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties of the Purchasers</u>. In connection with the transactions provided for herein, each Purchaser hereby represents and warrants to the Company 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;5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Authorization</u>. This Agreement constitutes such Purchaser's valid and legally binding obligation, enforceable in accordance with its terms, except as may be limited by (i) applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors' rights and (ii) laws relating to the availability of specific performance, injunctive relief or other equitable remedies. Each Purchaser represents that it has full power and authority to enter into 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;5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Purchase Entirely for Own Account</u>. Each Purchaser acknowledges that this Agreement is made with the Purchasers in reliance upon such Purchaser's representation to the Company that the Notes, the Conversion Shares, and any Common Stock issuable upon conversion of the Conversion Shares (collectively, the "<u>Securities</u>") will be acquired for investment for such Purchaser'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 such Purchaser has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Agreement, each Purchaser further represents that such Purchaser does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to the 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;5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclosure of Information</u>. Each Purchaser acknowledges that it has received all the information it considers necessary or appropriate for deciding whether to acquire the Securities. Each Purchaser further represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the 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;5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Investment Experience</u>. Each Purchaser is an investor in securities of companies in the development stage and acknowledges that it is able to fend for itself, can bear the economic risk of its investment and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Securities. If other than an individual, each Purchaser also represents it has not been organized solely for the purpose of acquiring the 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;5.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Accredited Investor</u>. Each Purchaser is an "accredited investor" within the meaning of Rule 501 of Regulation D of the Securities and Exchange Commission (the "<u>SEC</u>"), as presently in effect.

&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>Restricted Securities</u>. Each Purchaser understands that the Securities are characterized as "restricted securities" under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act only in certain limited circumstances. Each Purchaser represents that it is familiar with SEC Rule 144, as presently in effect, and understands the resale limitations imposed thereby and by 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;5.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Further Limitations on Disposition</u>. Without in any way limiting the representations and warranties set forth above, each Purchaser further agrees not to make any disposition of all or any portion of the Notes unless and until the transferee has agreed in writing for the benefit of the Company to be bound by this <u>Section 5</u> and <u>Section 10.12</u> 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with such registration statement; 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;(i) such Purchaser has notified the Company of the proposed disposition and has furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition and (ii) if reasonably requested by the Company, such Purchaser shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration of such shares under the Act. It is agreed that the Company will not require opinions of counsel for transactions made pursuant to Rule 144 except in extraordinary circumstances or in any transaction in which a Purchaser transfers Securities to one or more affiliates of such Purchaser.

&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>Legends</u>. It is understood that the Securities may bear the following legend:

"THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SUCH ACT."

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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;5.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Institutional Account</u>. Each Purchaser satisfies the definition of "institutional account" under Rule 4512(c) of the Financial Industry Regulatory Authority, Inc.

&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>Affirmative 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>New Subsidiaries</u>. Except as otherwise approved by the Required Lenders (as defined in the Senior Credit Agreement) under Section 7.13 of the Senior Credit Agreement (such that the requirements of such Section 7.13 are not so required to be complied with thereunder), with respect to (x) any Subsidiary formed or acquired after the Closing Date or (y) any Subsidiary existing on the Closing Date that does not Guarantee the Senior Obligations on the Closing Date but subsequently Guarantees the Senior Obligations at any time after the Closing Date, the Notes Parties shall, within thirty (30) days (or such longer period as the Senior Agent may agree) of formation or acquisition (in the case of clause (x)) or the date such Subsidiary guarantees the Senior Obligations (in the case of clause (y)), cause (i) any such Subsidiary that is a Domestic Subsidiary and (ii) any such Subsidiary that is not a Domestic Subsidiary that Guarantees the Senior Obligations, to Guarantee the Obligations and grant to the Collateral Agent, for the benefit of the Secured Parties, a security interest in, subject to the limitations set forth herein and in the Notes Documents, all of such Subsidiary's property to secure such Guarantee. The Notes Parties shall deliver, or cause to be delivered, to the Collateral Agent, appropriate resolutions, secretary certificates and certified organization documents and, if requested by Senior Agent (acting at the direction of the Required Lenders) with respect to the Obligations (as defined in the Senior Credit Agreement), legal opinions relating to the matters described in this Section 6.1(a) (which opinions shall be in form and substance reasonably acceptable to the Requisite Holders and, to the extent applicable, substantially similar to the opinions delivered on the Closing Date); it being understood and agreed that no opinion shall be required with respect to the determination of whether any Subsidiary is a Domestic Subsidiary.

&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>Security</u>. The Company shall, and shall cause each Notes Party to, do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, all such additional and future acts, deeds, instruments and assurances as are reasonably requested by Requisite Holders or the Collateral Agent to ensure at all times that the present and future obligations of the Company in respect of the Notes and the Guarantees by each Guarantor are fully secured by valid and enforceable Liens for the benefit of the Holders on all Collateral of each Notes Party, subject only to Permitted Liens, as and in the manner required by <u>Section 6.3</u>. The Company shall promptly notify the Holders upon any legal process in an amount greater than $1,000,000 affecting the Collateral.

&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>Post-Closing Obligations</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;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Bank Operations and Accounts</u>. Subject to the Senior Intercreditor Agreement and the Intercreditor Agreement, the Company shall use commercially reasonable efforts within ninety (90) days after (i) the Closing Date or (ii) in the case of any Person that becomes a Guarantor after the Closing Date, the date such Person becomes a Guarantor (in each case, or such longer period as the Collateral Agent may agree (acting at the direction of the Requisite Holders), to cause each Notes Party to deliver Control Agreements with respect to its

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bank accounts (including, any deposit account, securities account or commodity account, each as defined in the Security Agreement but excluding any Exempt Accounts); <u>provided</u> that such Control Agreements shall not be required in the event the Senior Agent is not a party to a control agreement that has perfected its Lien on such accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Additional Guarantees and Security</u>. Subject to the Senior Intercreditor Agreement, the Company shall cause, within ninety (90) days (or such longer period of time as the Requisite Holders may consent, which consent shall not be unreasonably withheld or delayed) after the Closing Date, (x) all Subsidiaries of the Company that are guarantors of the Senior Obligations on the Closing Date to become Guarantors of the Obligations and to execute and deliver a supplement to the Guarantee Agreement in form and substance satisfactory to the Requisite Holders and (y) all Assets of the Company and its Subsidiaries that are subject to the liens under the Senior Indebtedness on the Closing Date to become Collateral under this Agreement and become subject to Liens in favor of the Collateral Agent for the benefit of the Secured Parties. For the avoidance of doubt, Lime Neutron LLC shall Guarantee the Obligations and grant security overs its Assets in accordance with the Guarantee Agreement and the Security Documents, as applicable, on the Closing 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Reporting and Information</u>. The Company shall furnish to the 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Quarterly Financial Statements</u>. As soon as practicable and in any event within forty-five (45) days after the end of each Fiscal Quarter of each Fiscal Year, a copy of the unaudited consolidated balance sheets of Company and each of its Subsidiaries, and the related consolidated statements of income, shareholders' equity and cash flows as of the end of such Fiscal Quarter and for the portion of the Fiscal Year then ended, and for the period from the beginning of the then current Fiscal Year to the end of such Fiscal Quarter, setting forth in each case in comparative form the corresponding figures for the corresponding periods of the previous Fiscal Year all certified by an Authorized Officer of Company to the effect that they have been prepared in accordance with GAAP, (i) except for the absence of footnotes, (ii) subject to normal year-end adjustments, and (iii) except for certain non-cash items that are customarily included in quarterly and annual financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Annual Financial Statements</u>. As soon as practicable and in any event within ninety days (90) days after the end of each Fiscal Year (or, for the Fiscal Year ending December 31, 2021, one-hundred and eighty (180) days), a copy of the audited financial statements of Company and each of its Subsidiaries as at the end of such Fiscal Year prepared on a consolidated basis, including balance sheet and related statements of income, shareholders' equity and cash flows and setting forth in comparative form the corresponding figures for the preceding Fiscal Year, and accompanied by the report of a firm of independent certified public accountants, which report shall contain an unqualified opinion, stating that such consolidated financial statements present fairly in all material respects the financial position for the periods indicated in conformity with GAAP applied on a basis consistent with prior years and not include any explanatory paragraph expressing doubt as to going concern status.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Notice of Default</u>. As soon as possible and in any event within three (3) Business Days after becoming aware of the occurrence of any Event of Default or becoming

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aware of any event which constitutes a Default, a notification to the Holders and the Collateral Agent identifying such Default or Event of Default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Notice of Default under Senior Credit Agreement</u>. As soon as possible and in any event within three (3) Business Days after becoming aware of the occurrence of any Event of Default (as defined in the Senior Credit Agreement) or becoming aware of any event which constitutes a Default (as defined in the Senior Credit Agreement), a notification to the Holders and the Collateral Agent identifying such Default or Event of Default.

&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;<u>Use of Proceeds; Margin Regulations</u>. The Company will use the proceeds of the sale of the Notes for general corporate purposes. No part of the proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in any securities under such circumstances as to involve the Company in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220). The Company does not own any margin stock in an amount in excess of 5% of Consolidated Total Assets. As used in this Section, the terms "*margin stock*" *and* "*purpose of buying or carrying*" *shall* have the meanings assigned to them in said Regulation 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;6.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Negative 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Indebtedness</u>. The Company shall not, and shall not permit any Subsidiary to, create, incur, assume, guarantee or be or remain liable with respect to any Indebtedness, other than Permitted Indebtedness, except for (i) with respect to purchase money Indebtedness to the extent the outright purchase of such equipment would constitute an Investment in a capital asset that is permitted hereunder, (ii) the foregoing to the extent refinanced with similar Permitted Indebtedness, or (iii) as otherwise permitted by this <u>Section 6.2(a)</u> or approved in writing by the Requisite Holders.

Notwithstanding anything to the contrary in the foregoing, the issuance of, performance of obligations under (including any payments of interest), and conversion, exercise, repurchase, redemption (including, for the avoidance of doubt, a required repurchase in connection with the redemption of Permitted Convertible Debt upon satisfaction of a condition related to the stock price of the Company's common stock), settlement or early termination or cancellation of (whether in whole or in part and including by netting or set-off) (in each case, whether in cash, common stock of the Company or, following a merger event or other change of the common stock of the Company, other securities or property), or the satisfaction of any condition that would permit or require any of the foregoing, any Permitted Convertible Debt shall not be prohibited by this <u>Section 6.2(a)</u>; <u>provided</u> that, principal payments in cash (other than cash in lieu of fractional shares) shall only be allowed with respect to any repurchase to the extent made in connection with the redemption of Permitted Convertible Debt upon satisfaction of a condition related to the stock price of the Company's common stock and if the Cash Settlement Conditions are satisfied in respect of such redemption and at all times after such redemption.

&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>Liens</u>. The Company shall not, and shall not permit any Subsidiary to, create, incur, assume or suffer to exist any Lien on any of its Assets, other than Permitted Liens

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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;<u>Asset Disposition</u>. Except for Permitted Transfers, the Company shall not, and shall not permit any Subsidiary to, make any Asset Disposition, unless the proceeds of such Asset Disposition are reinvested within one hundred and eighty (180) days of such Asset Disposition or are used to make a mandatory prepayment of the Senior Indebtedness pursuant to the terms of the Senior Credit Agreement; <u>provided</u> that any distributions of Assets among the Company and its Subsidiaries shall be permitted for purposes of <u>Section 6.2(d)</u> and this <u>Section</u> <u>6.2(c)</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;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Investments</u>. The Company shall not, and shall not permit any Subsidiary to, directly or indirectly acquire or own, or make any Investment in or to any Person other than Permitted Investments.

Notwithstanding anything to the contrary in the foregoing, the issuance of, performance of obligations under (including any payments of interest), and conversion, exercise, repurchase, redemption (including, for the avoidance of doubt, a required repurchase in connection with the redemption of Permitted Convertible Debt upon satisfaction of a condition related to the stock price of the Company's common stock), settlement or early termination or cancellation of (whether in whole or in part and including by netting or set-off) (in each case, whether in cash, common stock of the Company or, following a merger event or other change of the common stock of the Company, other securities or property), or the satisfaction of any condition that would permit or require any of the foregoing, any Permitted Convertible Debt shall not be prohibited by this <u>Section 6.2(d)</u>; <u>provided</u> that, principal payments in cash (other than cash in lieu of fractional shares) shall only be allowed with respect to any repurchase to the extent made in connection with the redemption of Permitted Convertible Debt upon satisfaction of a condition related to the stock price of the Company's common stock and if the Cash Settlement Conditions are satisfied in respect of such redemption and at all times after such redemption.

Notwithstanding the foregoing, the Company may repurchase, exchange or induce the conversion of Permitted Convertible Debt by delivery of shares of the Company's common stock and/or a different series of Permitted Convertible Debt and/or by payment of cash (in an amount that does not exceed the proceeds received by the Company from the substantially concurrent issuance of shares of the Company's common stock and/or Permitted Convertible Debt plus the net cash proceeds, if any, received by the Company pursuant to the related exercise or early unwind or termination of the related Permitted Bond Hedge Transactions and Permitted Warrant Transactions, if any, pursuant to the immediately following proviso); <u>provided</u> that, for the avoidance of doubt, the Company may exercise or unwind or terminate early (whether in cash, shares or any combination thereof) the portion of the Permitted Bond Hedge Transactions and Permitted Warrant Transactions, if any, corresponding to such Permitted Convertible Debt that are so repurchased, exchanged or 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Distribution</u>. The Company shall not, and shall not permit any Subsidiary to (a) repurchase or redeem any class of stock or other equity interest of the Company or any of its Subsidiaries, other than repurchases described in clauses (iii), (xvii), and (xviii) of the definition of "Permitted Investments"; (b) declare or pay any cash dividend or make a cash distribution on any class of stock or other equity interest, except for (i) any dividends or other distributions by any Subsidiary of the Company to the Company or another Subsidiary of the Company, (ii) distributions of Net Cash Proceeds (as defined in the Senior Credit Agreement) to the extent

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permitted by the terms of the Senior Credit Agreement, (iii) any payments made by the Company upon the death, disability, retirement or termination of employment of any employee, officer, manager or director or pursuant to any employee or director equity plan, employee, manager or director stock option plan or any other employee or director benefit plan or any agreement (including any stock subscription or shareholder agreement) with any employee, officer, manager or director of the Company or any of its Subsidiaries in an amount not to exceed $500,000 or (iv) subject to satisfaction of the Equity Cash Payment Conditions, any other payments made by the Company to repurchase equity interests from any departing employees, officers, managers or directors or guarantee the payment of any such loans granted by a third party in an amount not to exceed $500,000 in the aggregate so long as no default known to the Company or Event of Default has occurred or is continuing; (c) waive, release or forgive any Indebtedness owed by any departing employees, officers, managers or directors in excess of $250,000 in the aggregate so long as no default known to the Company or Event of Default has occurred or is continuing; or (d) (x) the entry into and payment of any premium with respect to any Permitted Bond Hedge Transaction and (y) the settlement of any Permitted Warrant Transaction by (i) netting or set-off against any Permitted Bond Hedge Transaction, (ii) delivery of shares of common stock of the Company or (iii) if the Cash Settlement Conditions are satisfied, payment in cash.

Notwithstanding anything to the contrary in the foregoing, the issuance of, performance of obligations under (including any payments of interest), and conversion, exercise, repurchase, redemption (including, for the avoidance of doubt, a required repurchase in connection with the redemption of Permitted Convertible Debt upon satisfaction of a condition related to the stock price of the Company's common stock), settlement or early termination or cancellation of (whether in whole or in part and including by netting or set-off) (in each case, whether in cash, common stock of the Company or, following a merger event or other change of the common stock of the Company, other securities or property), or the satisfaction of any condition that would permit or require any of the foregoing, any Permitted Convertible Debt shall not be prohibited by this <u>Section 6.2(e)</u>; <u>provided</u> that, principal payments in cash (other than cash in lieu of fractional shares) shall only be allowed with respect to any repurchase to the extent made in connection with the redemption of Permitted Convertible Debt upon satisfaction of a condition related to the stock price of the Company's common stock and if the Cash Settlement Conditions are satisfied in respect of such redemption and at all times after such redemption.

Notwithstanding the foregoing, the Company may repurchase, exchange or induce the conversion of Permitted Convertible Debt by delivery of shares of the Company's common stock and/or a different series of Permitted Convertible Debt and/or by payment of cash (in an amount that does not exceed the proceeds received by the Company from the substantially concurrent issuance of shares of the Company's common stock and/or Permitted Convertible Debt plus the net cash proceeds, if any, received by the Company pursuant to the related exercise or early unwind or termination of the related Permitted Bond Hedge Transactions and Permitted Warrant Transactions, if any, pursuant to the immediately following proviso); <u>provided</u> that, for the avoidance of doubt, the Company may exercise or unwind or terminate early (whether in cash, shares or any combination thereof) the portion of the Permitted Bond Hedge Transactions and Permitted Warrant Transactions, if any, corresponding to such Permitted Convertible Debt that are so repurchased, exchanged or 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;6.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Security</u>.

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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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Lien Priority</u>. The payment and performance when due of all obligations of the Company in respect of the Notes shall at all times be secured by Liens for the benefit of the Secured Parties on the Assets of 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;a second priority Lien, on all present and future Assets of the Company, subject only to 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;subject to the Senior Intercreditor Agreement and the Intercreditor Agreement, a pledge of Capital Stock by the Company of all Capital Stock in their 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Security</u>. The payment and performance when due of all Obligations of the Company shall also be secured by any other security documents or agreements required by the Collateral Agent (acting at the direction of the Requisite Holders, acting reasonably).

&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>Provisions in Respect of the Security</u>. Each agreement or other document creating, evidencing or relating to the Liens referred to in this <u>Section 6.3</u> shall be in form and substance reasonably satisfactory to the Requisite Holders, and unless otherwise agreed by the Requisite Holders shall be duly registered, recorded, filed and all other notices given, consents obtained and actions taken, in each case so the Liens created, granted or evidenced therein shall constitute valid and enforceable Liens for the benefit of the Secured Parties on all the Collateral stated to be subject thereto, subject only to Permitted Liens, in each case, as the Collateral Agent (acting at the direction of the Requisite Holders) reasonably requests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;<u>State Commissioners of Corporations</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>California Corporate Securities Law</u>. THE SALE OF THE SECURITIES WHICH ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION FOR SUCH SECURITIES PRIOR TO SUCH QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM QUALIFICATION BY SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Defaults and Remedies</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>Events of Default</u>. Any of the following events shall be considered an "<u>Event of Default</u>" with respect to each Note:

&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>Default in Payment of Note</u>: The Company shall default in the payment or redemption of any part of the principal or unpaid accrued interest on the Note when due and payable, and does not cure such nonpayment or nonredemption, to the extent curable, within (30) days following such default;

&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>Insolvency and Bankruptcy</u>. The Company shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due, or shall file a voluntary petition for bankruptcy, or shall file any petition or answer seeking for

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itself any reorganization, arrangement, composition, readjustment, dissolution or similar relief under any present or future statute, law or regulation (each an "<u>Insolvency Proceeding</u>"), or shall file any answer admitting the material allegations of a petition filed against the Company in any such proceeding, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of the Company, or of all or any substantial part of the properties of the Company, or the Company or its respective directors or majority stockholders shall take any action looking to the dissolution or liquidation 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Involuntary Bankruptcy</u>. Within forty-five (45) days after the commencement of any proceeding against the Company seeking any bankruptcy reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed, or within forty-five (45) days after the appointment without the consent or acquiescence of the Company of any trustee, receiver or liquidator of the Company or of all or any substantial part of the properties of the Company, such appointment shall not have been vacated; 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;<u>Default in Performance</u>. Other than those Events of Default listed in other clauses of this <u>Section 8.1</u> (and the underlying obligations thereof), if the Company shall fail to observe or perform any other obligation to be observed or performed by it under this Agreement, the Notes, or the other Notes Documents and does not cure such nonobservance or nonperformance, to the extent curable, within 30 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Attachments; Judgments</u>. Any material portion of the assets of the Company or any Subsidiary of the Company is attached or seized, or a levy is filed against any such assets, or a final judgment or judgments is/are entered (in each case to the extent not paid and not covered by independent third party insurance) for the payment of money individually or in the aggregate, of at least $5,000,000, and there is a period of forty-five (45) consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal, bond or otherwise, is not in effect, or the Company or any Subsidiary of the Company is enjoined or in any way prevented by court order from conducting any material part its 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Cross-Default</u>. Default or defined event of default that has not otherwise been cured or forgiven shall occur under any agreement to which the Company or any of its Subsidiaries is a party that evidences indebtedness of $10,000,000 or more, which could entitle or permit any Person to accelerate such Indebtedness;

&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>Effect of a Default</u>. Upon the occurrence and during the continuation of any Event of Default, the Requisite Holders, by notice to the Company may declare the Notes, all interest accrued and unpaid thereon and all other amounts payable by the Company under or pursuant to this Agreement, the Notes and the other Notes Documents to be forthwith due and payable, whereupon the outstanding principal amount of the Notes, all such accrued interest and all such other amounts shall become and be forthwith immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Company. Thereupon, the Company shall immediately pay to the Holders all such amounts due and payable. In addition to the foregoing, if an Event of Default pursuant to Sections 8.1(b) or 8.1(c) shall occur, the outstanding principal amount of the Notes, all interest accrued and unpaid thereon and all other amounts payable by the Company under or pursuant to

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this Agreement, the Notes and the other Notes Documents shall automatically be and become immediately due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Company, and thereupon the Company shall immediately pay to the Holders all such amounts due and payable. For greater certainty, the Company will be considered to be in default of its obligations hereunder by the mere lapse of time provided for performing such obligations, without any requirement of further notice or other act of any Holder unless a notice is specifically required hereunder. If an Event of Default shall have occurred and be continuing, the Holders may immediately exercise all rights and remedies they may have under this Agreement, the Notes and the other Notes Documents and by Law, all without any additional notice, presentment, demand, protest, notice of dishonor, take possession of any of the Collateral, or any other action, notice of all of which are expressly waived 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;8.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies Cumulative; No Waiver</u>. For greater certainty, it is expressly understood and agreed that the rights and remedies of the Holders under this Agreement, the Notes and the other Notes Documents are cumulative and are in addition to, not in substitution for, any rights or remedies provided by any Applicable Law; no failure on the part of any Holder to exercise, and no delay in exercising, any right or remedy hereunder or thereunder shall operate as a waiver thereof, nor shall any single or partial exercise by any Holder of any right or remedy for a default or breach of any term, covenant, condition or agreement herein contained prejudice or preclude any other or further exercise thereof or the exercise of any other right or remedy for the same or any other default or breach and shall not waive, alter, affect or prejudice any other right or remedy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Collateral Agent</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;Each Holder hereby irrevocably designates and appoints the Collateral Agent as the collateral agent under this Agreement and the Notes Documents, and each such Holder irrevocably authorizes the Collateral Agent, in such capacity, to take such action on its behalf under the provisions of this Agreement and the Notes Documents and to exercise such powers and perform such duties as are expressly delegated to the Collateral Agent by the terms of this Agreement and the Notes Documents, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, the Collateral Agent shall not have any duties or responsibilities, except those expressly set forth herein or in the Notes Documents, or any fiduciary relationship with any Holder, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or the Notes Documents or otherwise exist against the Collateral Agent.

&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;In furtherance of the foregoing, each Holder hereby appoints and authorizes the Collateral Agent to act as the agent of such Holder for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by the Company or any Subsidiary to secure any of the obligations owing under this Agreement or the Notes Documents, together with such powers and discretion as are reasonably incidental thereto. In this connection, the Collateral Agent shall be entitled to the benefits of this <u>Section 9</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;9.3&nbsp;&nbsp;&nbsp;&nbsp;The Collateral Agent may execute any of its duties under this Agreement and the Notes Documents (including for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof)) by or through agents, employees or attorneys-in-fact and shall

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be entitled to advice of counsel and other consultants or experts concerning all matters pertaining to such duties. The Collateral Agent shall not be responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by it with reasonable care. The Collateral Agent may also from time to time, when it deems it to be necessary or desirable, appoint one or more trustees, co-trustees, collateral co-agents, collateral subagents or attorneys-in-fact (each, a "<u>Subagent</u>") with respect to all or any part of the Collateral and each Subagent shall be entitled to the benefits of all provisions of this <u>Section 9.3</u> as though such Subagent was the Collateral Agent; provided, that no such Subagent shall be authorized to take any action with respect to any Collateral unless and except to the extent expressly authorized in writing by the Collateral Agent. Should any instrument in writing from the Company or any Subsidiary be required by any Subagent so appointed by the Collateral Agent to more fully or certainly vest in and confirm to such Subagent such rights, powers, privileges and duties, the Company shall, or shall cause such Subsidiary to, execute, acknowledge and deliver any and all such instruments promptly upon request by the Collateral Agent. If any Subagent, or successor thereto, shall become incapable of acting, resign or be removed, all rights, powers, privileges and duties of such Subagent, to the extent permitted by law, shall automatically vest in and be exercised by the Collateral Agent until the appointment of a new Subagent.

&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;The Collateral Agent shall not be responsible for the negligence or misconduct of any agent, attorney-in-fact or Subagent that it selects with reasonable care. The Collateral Agent shall not, and neither shall any of its Affiliates or any of their respective officers, directors, employees, agents, attorneys-in-fact or affiliates be (a) liable for any action lawfully taken or omitted to be taken by it or such person under or in connection with this Agreement or any other Notes Document (except to the extent that any of the foregoing are found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from its or such person's own gross negligence, willful misconduct or bad faith) or (b) responsible in any manner to any holder of the Notes for any recitals, statements, representations or warranties made by the Company or any Subsidiary or any officer thereof contained in this Agreement or any other Notes Document or in any certificate, report, statement or other document referred to or provided for in, or received by the Collateral Agent under or in connection with, this Agreement or any other Notes Document or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Notes Document or for any failure of the Company or any Subsidiary a party thereto to perform its obligations hereunder or thereunder. The Collateral Agent shall not be under any obligation to any holder of the Notes to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Notes Document, or to inspect the properties, books or records of the Company or any Subsidiary. The Collateral Agent shall not have any duties or obligations except those expressly set forth herein and in the other Notes Documents. Without limiting the generality of the foregoing, (a) the Collateral Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default has occurred and is continuing, and (b) the Collateral Agent shall not, except as expressly set forth herein and in the other Notes Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Company or any of its Affiliates that is communicated to or obtained by the Collateral Agent or any of its Affiliates in any capacity. Without limiting the generality of clause (a) of the previous sentence, the use of the term "agent" herein and in the other Notes Documents with reference to Collateral Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law and instead, such term is used merely as a

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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;9.5&nbsp;&nbsp;&nbsp;&nbsp;The Collateral Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) or conversation believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper person. The Collateral Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper person, and shall not incur any liability for relying thereon. The Collateral Agent may consult with legal counsel (including counsel to the Company), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. The Collateral Agent may request (i) instructions from the Requisite Holders (or such greater percentage of holders of the Notes required) prior to taking any action or entering into any amendment, modification or supplement, making any determination, making any calculation, sending any notice, revoking any notice, making a selection, request, election or appointment (including failing to make a selection, request, election or appointment), exercising any voting rights or powers (including failing to exercise any voting rights or powers), exercising any rights or remedies (and all actions incidental or related thereto), releasing, subordinating and/or terminating any Lien, exercising any powers as the attorney-in-fact for the Company or any Guarantor, providing any consent, approval, instruction or direction (including

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failing to provide any consent, approval, instruction or direction) or making (or failing to make) any filing or recording in connection with this Agreement or any of the other Notes Documents, and may refrain (and shall incur no liability from so refraining) from taking or omitting to take any act or making any such determination, calculation, selection request, exercising such voting rights or powers or providing such notice, approval or consent or entering into any amendments, modification or supplements until it receives such instruction (or calculation, as applicable) from the Requisite Holders (or such number or percentage of the holders of the Notes as shall be necessary under the circumstances as provided for herein or in the other Transaction Documents) and (ii) such indemnity from the holders of the Notes, in each case, as it deems appropriate (and until such instructions and indemnity, as applicable, are received, the Collateral Agent shall act, or refrain from acting, as it deems advisable in its sole discretion) and the Collateral Agent shall not incur liability to any holder of the Notes, the Company or any Guarantor by reason of so refraining. The Collateral Agent shall be fully justified in acting or in failing or refusing to take any action under this Agreement or any other Notes Document unless it shall first (a) receive such written instruction of the Requisite Holders as it deems appropriate and (b) if so determined by the Collateral Agent in its sole discretion, be indemnified to its satisfaction by the holders of the Notes against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such action. The Collateral Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Notes Documents in accordance with a written instruction of the Requisite Holders (or, if so specified by this Agreement, all of the holders of the Notes), and such request and any action taken or failure to act pursuant thereto shall be binding upon all of the holders of the Notes and all future holders of the Notes.

&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;The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless the Collateral Agent has received written notice from a holder of the Notes or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." In the event that the Collateral Agent receives such a notice, the Collateral Agent shall give notice thereof to the holders of the Notes. The Collateral Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Requisite Holders (or, if so specified by this Agreement, all of the holders of the Notes) in writing; provided, that unless and until the Collateral Agent shall have received such directions, the Collateral Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the holders of the Notes.

&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;Each Holder expressly acknowledges that neither the Collateral Agent nor any of its officers, directors, employees, agents, attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by the Collateral Agent hereafter taken, including any review of the affairs of the Company or any affiliate of the Company, shall be deemed to constitute any representation or warranty by the Collateral Agent to any holder of any Note. Each holder of a Note represents to the Collateral Agent that it has, independently and without reliance upon the Collateral Agent or any other holder of any Note, and based on such documents and information as it has deemed appropriate, made its own appraisal of, and investigation into the business, operations, property, financial and other condition and creditworthiness of, the Company and its affiliates and made its own decision to purchase the Notes hereunder and enter into this Agreement. Each holder of a Note also represents that it will, independently and without reliance upon the Collateral Agent or any other holder of a Note, and based on such documents and

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information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Notes Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Company and its affiliates. Except for notices, reports and other documents expressly required to be furnished to the holders of the Notes by the Collateral Agent hereunder, the Collateral Agent shall not have any duty or responsibility to provide any holder of a Note with any credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of the Company or any affiliate of the Company that may come into the possession of the Collateral Agent or any of its officers, directors, employees, agents, attorneys-in-fact or affiliates.

&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;The Company agrees to pay or reimburse the Collateral Agent for all reasonable and documented out-of-pocket costs and expenses of the Collateral Agent (promptly following a written demand therefor, together with backup documentation supporting such reimbursement request) incurred in connection with the preparation, negotiation, execution, delivery and administration of this Agreement and the other Notes Documents and any amendment, waiver, consent, forbearance, modification or enforcement (whether through negotiations, legal proceedings or otherwise) of the provisions hereof and thereof (whether or not the transactions contemplated thereby are consummated), and the consummation and administration of the transactions contemplated hereby and thereby, including all reasonable and documented attorneys' fees, costs and expenses and, if necessary, a single local counsel in each relevant jurisdiction, and upon presentation of a summary statement, together with any supporting documentation reasonably requested by the Company, to pay or reimburse the Collateral Agent, promptly following a written demand therefor for all reasonable and documented out-of-pocket costs and expenses incurred in connection with the enforcement of any rights or remedies under this Agreement or the other Notes Documents (including all such costs and expenses incurred during any legal proceeding, including any proceeding under any applicable bankruptcy, insolvency, reorganization, or similar law, and including all reasonable and documented fees, costs and expenses of one counsel to the Collateral Agent and one local counsel in each relevant jurisdiction). The agreements in this <u>Section 9.8</u> shall survive the repayment of all 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;9.9&nbsp;&nbsp;&nbsp;&nbsp;The Holders agree to indemnify the Collateral Agent, in its capacity as such (to the extent not reimbursed by the Company or any Subsidiary and without limiting the obligation of the Company or any Subsidiary to do so), in the amount of its pro rata share of Notes (determined at the time such indemnity is sought), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, claims, costs, expenses (including attorneys' fees) or disbursements of any kind whatsoever that may at any time (whether before or after the payment of the Notes) be imposed on, incurred by or asserted against the Collateral Agent in any way relating to or arising out of the preparation, negotiation, execution, delivery, performance and administration of this Agreement, any of the other Notes Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by the Collateral Agent under or in connection with any of the foregoing; provided, that no Holder shall be liable for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements that are found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from the Collateral Agent's gross negligence, willful

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misconduct or bad faith. The failure of any Holder to reimburse the Collateral Agent promptly upon demand for its ratable share of any amount required to be paid by the Holders as provided herein shall not relieve any other Holder of its obligation hereunder to reimburse the Collateral Agent for its ratable share of such amount, but no Holder shall be responsible for the failure of any other Holder to reimburse the Collateral Agent for such other Holder' ratable share of such amount. The agreements in this <u>Section 9.9</u> shall survive the payment of the Notes and all other amounts payable hereunder. To the extent permitted by applicable Law, no Holder shall assert, and each Holder hereby waives, any claim against the Collateral Agent and its Affiliates, officers, partners, members, directors, trustees, shareholders, advisors, employees, representatives, attorneys, controlling persons, agents and sub-agents on any theory of liability, for special, indirect, incidental, consequential or punitive damages (as opposed to direct or actual damages) (whether or not the claim therefor is based on contract, tort or duty imposed by any applicable legal requirement) arising out of, in connection with, as a result of or in any way related to this Agreement or any Transaction Document or any agreement or instrument contemplated hereby or thereby or referred to herein or therein, the transactions contemplated hereby or thereby, any Note or the use of the proceeds thereof or any act or omission or event occurring in connection therewith, and each Holder hereby waives, releases and agrees not to sue upon any such claim or any such damages, whether or not accrued and whether or not known or suspected to exist in its favor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.10&nbsp;&nbsp;&nbsp;&nbsp;The Collateral Agent and its affiliates may make loans to, accept deposits from, and generally engage in any kind of business with the Company and its Subsidiaries as though the Collateral Agent were not the Collateral Agent. With respect to its Notes, the Collateral Agent shall have the same rights and powers under this Agreement and the other Notes Documents as any other Holder and may exercise the same as though it were not the Collateral Agent, and the term "Holder" shall include the Collateral Agent in its individual capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.11&nbsp;&nbsp;&nbsp;&nbsp;The Collateral Agent may resign as Collateral Agent upon 30 days' notice to the Holders and the Company. If the Collateral Agent shall resign as Collateral Agent under this Agreement and the other Notes Documents, then the Requisite Holders shall have the right, subject to the reasonable consent of the Company, to appoint a successor to serve as Collateral Agent, whereupon such successor agent shall succeed to the rights, powers and duties of the Collateral Agent, and the term "Collateral Agent" shall mean such successor agent effective upon such appointment and approval, and the former Collateral Agent's rights, powers and duties as Collateral Agent shall be terminated, without any other or further act or deed on the part of such former Collateral Agent or any of the parties to this Agreement or any holders of the Notes. If no successor agent has accepted appointment as Collateral Agent by the date that is 30 days following a retiring Collateral Agent's notice of resignation from such role(s), the retiring Collateral Agent's resignation from such role shall nevertheless thereupon become effective (except, in the case of the Collateral Agent holding collateral security on behalf of the Holders, the retiring Collateral Agent shall continue to hold such collateral security as nominee until such time as a successor Collateral Agent is appointed), and the Holders shall assume and perform all of the duties of the Collateral Agent hereunder and under the other Notes Documents until such time, if any, as the Requisite Holders (or the Company) appoint a successor agent to serve in the role as to which the Collateral Agent has resigned as provided for above. After any retiring Collateral Agent's resignation as Collateral Agent the provisions of this <u>Section 9</u> shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent under this Agreement and the other Notes Documents.

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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;9.12&nbsp;&nbsp;&nbsp;&nbsp;The Collateral Agent is hereby authorized on behalf of all of the holders of the Notes, without the necessity of any notice to or further consent from any holder of the Notes, from time to time prior to an Event of Default, (but shall have no obligation to do so prior to receiving written direction from the Requisite Holders) to take any action with respect to any Collateral or Notes Documents which may be necessary to perfect and maintain perfected the security interest in and Liens upon the Collateral granted pursuant to the Notes Documents. Upon request by the Collateral Agent at any time, the holders of the Notes will confirm in writing the Collateral Agent's authority to release particular types or items of Collateral pursuant to this <u>Section 9</u>. The holders of the Notes authorize the Collateral Agent to release any Collateral in accordance with the Security Agreement and the other Notes Documents. In each case as specified in and subject to the provisions of this <u>Section 9</u>, the Collateral Agent will (and each holder of the Notes irrevocably authorizes the Collateral Agent to), at the Company's expense, execute and deliver to the Company or any Guarantor, as applicable, such documents as such Person may reasonably request to evidence the release or subordination of such item of Collateral from the assignment and security interest granted under the Notes Documents, or to evidence the release of such Guarantor from its obligations under the Security Agreement, in each case in accordance with the terms of the Security Agreement, the other Notes Documents and this <u>Section 9</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;9.13&nbsp;&nbsp;&nbsp;&nbsp;Anything contained in any of the Notes Documents to the contrary notwithstanding, the Company, the Collateral Agent and each Holder hereby agree that (a) no Holder shall have any right individually to realize upon any of the Collateral, it being understood and agreed that all powers, rights and remedies hereunder in respect of the Collateral may be exercised solely by the Collateral Agent, on behalf of the holders of the Notes in accordance with the terms hereof and all powers, rights and remedies under the Notes Documents (including the Security Agreement) in respect of the Collateral may be exercised solely by the Collateral Agent, and (b) in the event of a foreclosure by the Collateral Agent on any of the Collateral pursuant to a public or private sale or other disposition, the Collateral Agent or any holder of any Note may be the purchaser or licensor of any or all of such Collateral at any such sale or other disposition and the Collateral Agent, as agent for and representative of the holder of the Notes (but not any holder or holder of the Notes in its or their respective individual capacities unless the Requisite Holders shall otherwise agree in writing), shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of the Obligations as a credit on account of the purchase price for any collateral payable by the Collateral Agent at such sale or other 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;9.14&nbsp;&nbsp;&nbsp;&nbsp;The Collateral Agent shall have no obligation whatsoever to the holders of the Notes or to any other Person to assure that the Collateral exists or is owned by the Company or any Guarantor or is cared for, protected or insured or that the Liens granted to the Collateral Agent pursuant to any Security Document have been properly or sufficiently or lawfully created, perfected, protected or enforced or are entitled to any particular priority, or to exercise or to continue exercising at all or in any manner or under any duty of care, disclosure or fidelity any of the rights, authorities and powers granted or available to the Collateral Agent in this <u>Section 9</u>, or in any of the Notes Documents, it being understood and agreed that in respect of the Collateral, or any act, omission or event related thereto, the Collateral Agent shall have no duty unless and until expressly directed by Requisite Holders. The Collateral Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the existence or collectability of the Collateral, the existence, priority or perfection of the Collateral Agent's Lien

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thereon, or any certificate prepared by the Company or any Guarantor in connection therewith, nor shall the Collateral Agent be responsible or liable to the holders of the Notes for any failure to monitor or maintain any portion of the Collateral, the Liens therein or financing statements filed 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;9.15&nbsp;&nbsp;&nbsp;&nbsp;Each Holder hereby authorizes and instructs the Collateral Agent to execute and deliver and perform its obligations under the Security Agreement, the Senior Intercreditor Agreement, the Intercreditor Agreement, the Junior Investor Subordination Agreement and each other Notes Document to which the Collateral Agent is a party (and any amendments, restatements, supplements or modifications thereof approved in accordance with the terms thereof) on behalf of such Holder, and such Holder agrees to bound by the terms thereof. Each Holder (including any Holder that that may become a party from time to time hereto pursuant to an assignment in accordance with <u>Section 10.1</u> and their respective successors and assigns) acknowledges and agrees that it shall be subject to the Purchase Option (as defined in the Intercreditor Agreement) and agrees to be bound by (and comply with) the terms and conditions thereof and each Holder further agrees not to make any disposition of all or any portion of the Notes unless and until the transferee has agreed in writing for the benefit of the 2020 Note Purchaser (as defined in the Intercreditor Agreement) to be bound by the Purchase Option. Subject to the Senior Intercreditor Agreement, the Intercreditor Agreement and the Junior Investor Subordination Agreement, any amount received by the Collateral Agent from proceeds of any Collateral following any acceleration of the Obligations under this Agreement or any Event of Default with respect to the Company or any of Guarantor, in each case that is continuing, shall be applied: (i) first, ratably, to pay any fees, indemnities or expense reimbursements then due to the Collateral Agent from the Company or any Guarantor, (ii) second, towards payment of interest and fees then due from the Company hereunder, ratably among the Holders entitled thereto in accordance with the amounts of interest and fees then due to such parties, (iii) third, towards payment of other Obligations then due from the Company or any Guarantor, ratably among the Holders entitled thereto in accordance with the amounts of such Obligations then due to such parties and (iv) last, the balance, if any, after all of the Obligations have been paid in full, to the Company or as otherwise required by law or any court of competent jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;<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;10.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns</u>. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties, <u>provided</u>, <u>however</u>, that (i) the Company may not assign its obligations under this Agreement without the written consent of the Requisite Holders and (ii) the Purchasers may assign the Notes, in whole or in part to their Affiliates without consent of the Company, <u>provided</u> that the Purchasers shall provide written notice to the Company promptly after such assignment (and the failure to provide such notice shall not invalidate such assignment). Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided 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>Governing Law; Submission to Jurisdiction; Etc.</u>

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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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. This Agreement, the Notes and the other Notes Documents and any claims, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Agreement, the Notes or any other Notes Document (except, as to any other Notes Document, as expressly set forth therein) and the transactions contemplated hereby and thereby shall be governed by, and construed in accordance with, the law of the State of New York.

&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>Submission to Jurisdiction</u>. The Company hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the courts of the State of New York in the County of New York and of the United States District Court for the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, the Notes or the other Notes Documents or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such federal court. Each of the parties hereto agrees that a final non-appealable judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Holders may otherwise have to bring any action or proceeding relating to this Agreement against the Company or its properties in the courts of any 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Venue</u>. The Company hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement, the Notes or other Notes Documents in any court referred to in <u>Section</u> <u>10.2(b)</u>. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

&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;<u>Service of Process</u>. Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in <u>Section 10.5</u>. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner 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;10.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</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.

&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>Titles and Subtitles</u>. The titles and subtitles used in this Agreement are used 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;10.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not so confirmed, then on the next business day, (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the

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respective parties at the following addresses (or at such other addresses as shall be specified by notice given in accordance with this <u>Section 10.5</u>):

If to the Company:

**Neutron Holdings, Inc.** 

85 2<sup>nd</sup> Street

San Francisco, CA 94105

Attention: Legal Department

With a copy to:

Latham & Watkins LLP

140 Scott Drive

Menlo Park, CA 94025

Attention: Tad Freese

Email: [\*\*\*]

If to the Purchasers:

At the respective addresses shown on the signature pages hereto.

With a copy to:

**Paul, Weiss, Rifkind, Wharton & Garrison LLP**

1285 Avenue of the Americas

New York, NY 10019

Attention: &nbsp;&nbsp;&nbsp;&nbsp;David S. Huntington

Austin Witt

Email: &nbsp;&nbsp;&nbsp;&nbsp;[\*\*\*]

[\*\*\*]

If to the Collateral Agent:

**Wilmington Savings Fund Society, FSB**

500 Delaware Avenue

Wilmington, DE 19801

Attention: Global Capital Markets

E-mail: [\*\*\*]

With a copy to:

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**Porter Hedges LLP**

1000 Main Street

36<sup>th</sup> Floor

Houston, TX 77002

Attention: &nbsp;&nbsp;&nbsp;&nbsp;Brian G. Rose

Email: &nbsp;&nbsp;&nbsp;&nbsp;[\*\*\*]

&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>Finder's Fee</u>. Each party represents that it neither is nor will be obligated for any finder's fee or commission in connection with this transaction. Each Purchaser agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which such Purchaser or any of its officers, partners, employees or representatives is responsible. The Company agrees to indemnify and hold harmless each Purchaser from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

&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>Expenses</u>. The Company will pay all reasonable costs and expenses (including reasonable attorneys' fees) incurred by each Purchaser or each other Holder in connection with the transactions contemplated by this Agreement and the other Transaction Documents and in connection with the preparation, negotiation, execution, delivery and administration of this Agreement and the other Transaction Documents and with any amendments, waivers, consents, forbearances or modifications under or in respect of the Transaction Documents (whether or not such amendment, waiver, consent, forbearance or modification becomes effective, and including all reasonable fees, costs and expenses of local counsel in each relevant jurisdiction). The Company shall also pay the reasonable costs and expenses incurred by each Purchaser or each other Holder in enforcing or defending (or determining whether or how to enforce or defend) any rights or remedies under the Transaction Documents (whether through negotiations, legal proceedings or otherwise, including all such costs and expenses incurred during any proceeding under any applicable bankruptcy, insolvency, reorganization, or similar Law, and including all reasonable fees, costs and expenses of local counsel in each relevant jurisdiction). In addition, the Company will also pay the reasonable costs and expenses of each Purchaser or each other Holder (i) in responding to any subpoena or other legal process or informal investigative demand issued in connection with the Transaction Documents, or by reason of being a Holder (but only so long as such subpoena or other legal proceeding arises out of matters which are related to the Company) and (ii) the costs and expenses, including financial advisors' fees, incurred in connection with the insolvency or bankruptcy of the Company or in connection with any work-out or restructuring of the transactions contemplated hereby and by the other Transaction Documents. The Company will pay, and will save each Purchaser and each other Holder harmless from, all claims in respect of any fees, costs or expenses, if any, of brokers and finders (other than those retained by the Purchasers or any other holders in connection with its purchase of Notes). On the Closing Date, the Company will pay the reasonable costs and expenses (including reasonable attorneys' fees) incurred on or prior to such date by each Purchaser or Holder in connection with the transactions contemplated hereby. The obligations of the Company under this Section 10.7 will survive the payment or transfer of any Note, the enforcement, amendment or waiver of any provision of this Agreement or any other Transaction Document, and the termination of this Agreement or the other Transaction Documents (but shall not survive, with respect to any Holder of Notes, the conversion

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of the Notes held by such Holder, other than with respect to expenses incurred prior to such 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;10.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnity</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;In addition to the payment of expenses pursuant to Sections 9.8 and 10.7, whether or not the transactions contemplated hereby are consummated, each Notes Party agrees to defend (subject to Indemnitees' rights to selection of counsel), indemnify, pay and hold harmless, the Collateral Agent, the Purchasers, each other Holder and their respective Affiliates and each of their and the officers, directors, employees, agents, advisors, representatives and controlling persons of each of the Collateral Agent, the Purchasers, each other Holder, as well as the respective heirs, successors and assigns of the foregoing (each, an "<u>Indemnitee</u>"), from and against any and all Indemnified Liabilities; <u>provided</u>, that no Notes Party shall have any obligation to any Indemnitee hereunder with respect to any Indemnified Liabilities to the extent such Indemnified Liabilities arise (i) from the gross negligence, bad faith or willful misconduct of that Indemnitee, in each case, as determined by a final, non-appealable judgment of a court of competent jurisdiction, or (ii) from or out of any dispute among Indemnitees (other than a dispute involving claims against the Collateral Agent or any other agent or co-agent (if any), in each case, in their respective capacities as such) that did not involve an act or omission of the Notes Parties. To the extent that the undertakings to defend, indemnify, pay and hold harmless set forth in <u>this Section 10.8</u> may be unenforceable in whole or in part because they are violative of any Law or public policy, the applicable Notes Party shall contribute the maximum portion that it is permitted to pay and satisfy under applicable Law to the payment and satisfaction of all Indemnified Liabilities incurred by Indemnitees or any of them.

&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;To the extent permitted by applicable Law, no Notes Party shall assert, and each Notes Party hereby waives, any claim against the Collateral Agent, the Purchasers, each other Holder and their respective Affiliates, officers, partners, members, directors, trustees, shareholders, advisors, employees, representatives, attorneys, controlling persons, agents and sub-agents on any theory of liability, for special, indirect, incidental, consequential or punitive damages (as opposed to direct or actual damages) (whether or not the claim therefor is based on contract, tort or duty imposed by any applicable legal requirement) arising out of, in connection with, as a result of or in any way related to this Agreement or any Transaction Document or any agreement or instrument contemplated hereby or thereby or referred to herein or therein, the transactions contemplated hereby or thereby, any Note or the use of the proceeds thereof or any act or omission or event occurring in connection therewith, and each Notes Party hereby waives, releases and agrees not to sue upon any such claim or any such damages, whether or not accrued and whether or not known or suspected to exist in its favor. No Indemnitee shall be liable for any damages arising from the use by others of any information or other materials obtained through internet, electronic, telecommunications or other information transmission systems, except to the extent same resulted primarily from the gross negligence or willful misconduct of such Indemnitee (to the extent determined by a court of competent jurisdiction in a final and non-appealable 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;All amounts due under this <u>Section 10.8</u> shall be due and payable within thirty (30) days after demand therefor.

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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;The provision of this <u>Section 10.8</u> shall expire and be of no further force and effect, with respect to any Holder of Notes, upon conversion of the Notes 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;10.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement; Amendments and Waivers</u>. This Agreement and the Notes and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof. Any term of this Agreement or the Notes may be amended and the observance of any term of this Agreement or the Notes may be waived (either generally or in a particular instance and either retroactively or prospectively), with the written consent of the Company and the Requisite Holders; *provided* that, this Agreement and any Note may not be amended, modified or terminated and the observance of any term hereof or thereof may not be waived with respect to any Purchaser without the written consent of such Purchaser, unless such amendment, modification, termination, or waiver applies to all Purchasers in the same fashion; *provided*, *further*, that the definition of "Requisite Holders" may not be amended, modified or terminated and the observance of such term may not be waived without the written consent of Uber, a majority-in-interest of the Highbridge Holders and a majority in-interest of the Fidelity Holders. Any waiver or amendment effected in accordance with this <u>Section 10.9</u> shall be binding upon each party to this Agreement and any holder of any Note purchased under this Agreement at the time outstanding and each future holder of all such Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Amendment or Waiver</u>. Each Purchaser acknowledges that by the operation of this <u>Section 10.10</u>, the Requisite Holders will have the right and power to diminish or eliminate certain rights of such Holders under this Agreement and each Note issued to such Purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision 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;10.12&nbsp;&nbsp;&nbsp;&nbsp;<u>"Market Stand-Off" Agreement</u>. Each Purchaser hereby agrees that it will be bound by Section 2.11 of the Investors' Rights Agreement, and agrees that a legend reading substantially as set forth in Section 2.12(b) of the Investors Rights Agreement will be placed on all certificates representing all Conversion Shares of each Purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Purchase Agreement</u>. Each Purchaser understands and agrees that the conversion of the Notes into Conversion Shares may require such Purchaser's execution of certain agreements (in form reasonably agreeable to the Purchaser) relating to the conversion, purchase and sale of such 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;10.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Exculpation Among Purchasers</u>. Each Purchaser acknowledges that it is not relying upon any person, firm, corporation or stockholder, other than the Company and its officers and directors in their capacities as such, in making its investment or decision to invest in the Company. Each Purchaser agrees that no other Purchaser nor the respective controlling persons, officers, directors, partners, agents, stockholders or employees of any other Purchaser shall be liable for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase and sale of the 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;10.15&nbsp;&nbsp;&nbsp;&nbsp;<u>J.P. Morgan</u>. Each of the parties hereto hereby acknowledges and agrees that (a) J.P. Morgan is acting solely as the Company's placement agent in connection with the transactions contemplated by this Agreement, is not acting as the placement agent for any of the Purchasers, is not acting as an underwriter or in any other capacity and is not and shall not be construed as a fiduciary for any Purchaser, the Company or any other person or entity in connection with transactions contemplated by this Agreement; (b) J.P. Morgan has not made and will not make any representation or warranty, whether express or implied, of any kind or character and has not provided any advice or recommendation in connection with the transactions contemplated by this Agreement; (c) J.P. Morgan will have no responsibility with respect to (i) any representations, warranties or agreements made by any person or entity under or in connection with the transactions contemplated by this Agreement or any of the documents furnished pursuant thereto or in connection therewith, or the execution, legality, validity or enforceability (with respect to any person) or any thereof, or (ii) the business, affairs, financial condition, operations, properties or prospects of, or any other matter concerning the Company or the transactions contemplated by this Agreement; and (d) J.P. Morgan shall have no liability or obligation (including without limitation, for or with respect to any losses, claims, damages, obligations, penalties, judgments, awards, liabilities, costs, expenses or disbursements incurred by you, the Company or any other person or entity), whether in contract, tort or otherwise, to you, or to any person claiming through you, in respect of the transactions contemplated by this Agreement. The Company and the Purchasers agree that J.P. Morgan is an express third-party beneficiary of the terms 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;10.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement</u>. In order to avoid doubt, it is acknowledged that each Purchaser shall be entitled to the benefit of all adjustments in the number of shares of Common Stock of the Company issuable upon conversion of the preferred stock of the Company or as a result of any splits, recapitalizations, combinations or other similar transaction affecting the Common Stock or Preferred Stock underlying the Conversion Shares that occur prior to the conversion of the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Cooperation; Further Assurance</u>. Prior to any issuance of Conversion Shares upon conversion of the Notes, the parties agree to fully cooperate to (a) take, or cause to be taken, all further actions, (b) deliver to the other parties such further information and documents, (c) execute and deliver to the other parties such further instruments, including any amendments to the Company's Restated Certificate or Bylaws, in each case as any other party may reasonably request as is necessary in order to authorize the issuance of such Conversion Shares in accordance with the respective Notes and (d) execute and deliver joinders to the customary shareholder agreements executed by investors in the latest financing round (including, without limitation, the Investors' Rights Agreement, as amended or amended and restated from time to time) to the extent the applicable Purchaser receiving Conversion Shares is not already party to such agreement(s). For the avoidance of doubt, upon execution of such joinder to the Investors' Rights Agreement, the Conversion Shares shall be deemed to be "Registrable Securities" pursuant to the Investors' Rights Agreement as such term is defined therein. From time to time, the Company shall execute and deliver to the Purchasers such additional documents and shall provide such additional information to the Purchasers as any Purchaser may reasonably require to carry out the terms of this Agreement, the Notes and the other Notes Documents and any agreements executed in connection herewith or therewith, or to be informed of the financial and business conditions and prospects of 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;10.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Interpretation of Defined Terms</u>. Any terms used herein that are defined by reference to the Senior Credit Agreement shall be deemed to refer to the Senior Credit Agreement as in effect on the date 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;10.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Jury Trial</u>. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, CAUSE OF ACTION, OR PROCEEDING ARISING UNDER OR WITH RESPECT TO THIS AGREEMENT, OR IN ANY WAY CONNECTED WITH, OR RELATED TO, OR INCIDENTAL TO, THE DEALING OF THE PARTIES HERETO WITH RESPECT TO THIS AGREEMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND IRRESPECTIVE OF WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY AGREES THAT ANY SUCH CLAIM, DEMAND, ACTION, OR PROCEEDING SHALL BE DECIDED BY A COURT TRIAL WITHOUT A JURY AND THAT EITHER PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF ANY OTHER PARTY HERETO TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY.

[*Signature pages follow*]

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

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| | |
|:---|:---|
| **Neutron Holdings, Inc.**  | **Neutron Holdings, Inc.**  |
| By: | /s/ Wayne Ting |
|  | **Name:** Wayne Ting |
|  | **Title:** Chief Eecutive Officer |

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|:---|:---|
| **Wilmington Savings Fund Society, FSB**, as Collateral Agent | **Wilmington Savings Fund Society, FSB**, as Collateral Agent |
| By: | /s/ Chris Maher |
|  | **Name:** Chris Maher |
|  | **Title:** Authorized Signatory |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIDELITY SECURITIES FUND:**  | **FIDELITY SECURITIES FUND:**  |
| | **FIDELITY BLUE CHIP GROWTH FUND** | **FIDELITY BLUE CHIP GROWTH FUND** |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIDELITY BLUE CHIP GROWTH COMMINGLED POOL** | **FIDELITY BLUE CHIP GROWTH COMMINGLED POOL** |
| | By: Fidelity Management Trust Company, as Trustee | By: Fidelity Management Trust Company, as Trustee |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIDELITY SECURITIES FUND:**  | **FIDELITY SECURITIES FUND:**  |
| | **FIDELITY FLEX LARGE CAP GROWTH FUND** | **FIDELITY FLEX LARGE CAP GROWTH FUND** |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIDELITY SECURITIES FUND:**  | **FIDELITY SECURITIES FUND:**  |
| | **FIDELITY BLUE CHIP GROWTH K6 FUND** | **FIDELITY BLUE CHIP GROWTH K6 FUND** |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIRM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** | **FIRM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** |
| | By: Fidelity Institutional Asset Management Trust Company as Trustee | By: Fidelity Institutional Asset Management Trust Company as Trustee |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **VARIABLE INSURANCE PRODUCTS FUND III: GROWTH OPPORTUNITIES PORTFOLIO** | **VARIABLE INSURANCE PRODUCTS FUND III: GROWTH OPPORTUNITIES PORTFOLIO** |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMPANY FUND** |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIDELITY GROWTH COMPANY COMMINGLED POOL** | **FIDELITY GROWTH COMPANY COMMINGLED POOL** |
| | By: Fidelity Management Trust Company, as Trustee | By: Fidelity Management Trust Company, as Trustee |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY K6 FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY K6 FUND** |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST** | **FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST** |
| | By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIDELITY NORTHSTAR FUND – SUB D** | **FIDELITY NORTHSTAR FUND – SUB D** |
| | By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIDELITY CANADIAN GROWTH COMPANY FUND** | **FIDELITY CANADIAN GROWTH COMPANY FUND** |
| | By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIDELITY SPECIAL SITUATIONS FUND** | **FIDELITY SPECIAL SITUATIONS FUND** |
| | By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **FIDELITY GLOBAL INNOVATORS INVESTMENT TRUST** | **FIDELITY GLOBAL INNOVATORS INVESTMENT TRUST** |
| | By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| | By: | /s/ Chris Maher |
| | Print Name: Chris Maher | Print Name: Chris Maher |
| | Title: Authorized Signatory | Title: Authorized Signatory |
| Address: |  |  |

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| | |
|:---|:---|
| **PURCHASERS:** | **PURCHASERS:** |
| **WILMINGTON SAVINGS FUND SOCIETY, FSB,**<br>**As Collateral Agent** | **WILMINGTON SAVINGS FUND SOCIETY, FSB,**<br>**As Collateral Agent** |
| By: | /s/ Geoffrey J. Lewis |
| Print Name: Geoffrey J. Lewis | Print Name: Geoffrey J. Lewis |
| Title: Vice President | Title: Vice President |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **HIGHBRIDGE TACTICAL CREDIT MASTER FUND, L.P.** | **HIGHBRIDGE TACTICAL CREDIT MASTER FUND, L.P.** |
| | By: Highbridge Capital Management, LLC, as Trading Manager | By: Highbridge Capital Management, LLC, as Trading Manager |
| | By: | /s/ Jonathan Segal |
| | Print Name: Jonathan Segal | Print Name: Jonathan Segal |
| | Title: Managing Director | Title: Managing Director |
| Address: | [\*\*\*] | [\*\*\*] |

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| | | |
|:---|:---|:---|
| | **HIGHBRIDGE SPAC OPPORTUNITY FUND, L.P.** | **HIGHBRIDGE SPAC OPPORTUNITY FUND, L.P.** |
| | By: Highbridge Capital Management, LLC, as Trading Manager | By: Highbridge Capital Management, LLC, as Trading Manager |
| | By: | /s/ Jonathan Segal |
| | Print Name: Jonathan Segal | Print Name: Jonathan Segal |
| | Title: Managing Director | Title: Managing Director |
| Address: | [\*\*\*] | [\*\*\*] |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| | By: | /s/ Nelson Chai |
| | Print Name: Nelson Chai | Print Name: Nelson Chai |
| | Title: Chief Financial Officer | Title: Chief Financial Officer |
| Address: | [\*\*\*] | [\*\*\*] |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **LI FUND I, A SERIES OF ADAMANT VENTURES, LP** | **LI FUND I, A SERIES OF ADAMANT VENTURES, LP** |
| | By: Fund GP, LLC, its General Partner | By: Fund GP, LLC, its General Partner |
| | By: Belltower Fund Group, Ltd., Manager of the General Partner | By: Belltower Fund Group, Ltd., Manager of the General Partner |
| | By: | /s/ Brett Sagan |
| | Print Name: Brett Sagan | Print Name: Brett Sagan |
| | Title: Authorized Person | Title: Authorized Person |
| Address: | [\*\*\*] | [\*\*\*] |

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|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **ABU DHABI GROWTH FUND RSC LTD** | **ABU DHABI GROWTH FUND RSC LTD** |
| | By: | /s/ Khalifa Alsuwaidi |
| | Print Name: Khalifa Alsuwaidi | Print Name: Khalifa Alsuwaidi |
| | Title: Director | Title: Director |
| Address: | [\*\*\*] | [\*\*\*] |

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|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **Salix Investments, LLC** | **Salix Investments, LLC** |
| | By: | /s/ Greg Nelson |
| | Print Name: Greg Nelson | Print Name: Greg Nelson |
| | Title: President | Title: President |
| Address: | [\*\*\*] | [\*\*\*] |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **AME CLOUD VENTURES LP** | **AME CLOUD VENTURES LP** |
| | By: AME Cloud Holdings, LLC, its general partner | By: AME Cloud Holdings, LLC, its general partner |
| | By: | /s/ Gregory R. Hardester |
| | Print Name: Gregory R. Hardester | Print Name: Gregory R. Hardester |
| | Title: Authorized Person | Title: Authorized Person |
| Address: | [\*\*\*] | [\*\*\*] |

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| | | |
|:---|:---|:---|
| | **AME 2019 FUND LP** | **AME 2019 FUND LP** |
| | By: AME 2019 GP LLC, its general partner | By: AME 2019 GP LLC, its general partner |
| | By: | /s/ Gregory R. Hardester |
| | Print Name: Gregory R. Hardester | Print Name: Gregory R. Hardester |
| | Title: Authorized Person | Title: Authorized Person |
| Address: | [\*\*\*] | [\*\*\*] |

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|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **CAAS CAPITAL MANAGEMENT LP** | **CAAS CAPITAL MANAGEMENT LP** |
| | By: | /s/ Jane Korach |
| | Print Name: Jane Korach | Print Name: Jane Korach |
| | Title: General Counsel | Title: General Counsel |
| Address: | [\*\*\*] | [\*\*\*] |

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|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **DIAMETER MASTER FUND LP** | **DIAMETER MASTER FUND LP** |
| | By: Diameter Capital Partners LP, acting solely as its Investment Manager | By: Diameter Capital Partners LP, acting solely as its Investment Manager |
| | By: | /s/ Shailini Rao |
| | Print Name: Shailini Rao | Print Name: Shailini Rao |
| | Title: General Counsel and CCO | Title: General Counsel and CCO |
| Address: | [\*\*\*] | [\*\*\*] |

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| | | |
|:---|:---|:---|
| | **DIAMETER DISLOCATION MASTER FUND LP** | **DIAMETER DISLOCATION MASTER FUND LP** |
| | By: Diameter Capital Partners LP, acting solely as its Investment Manager | By: Diameter Capital Partners LP, acting solely as its Investment Manager |
| | By: | /s/ Shailini Rao |
| | Print Name: Shailini Rao | Print Name: Shailini Rao |
| | Title: General Counsel and CCO | Title: General Counsel and CCO |
| Address: | [\*\*\*] | [\*\*\*] |

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|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **NPC LIME II, LLC** | **NPC LIME II, LLC** |
| | By: Next Play Capital GP III, LLC, its Managing Member | By: Next Play Capital GP III, LLC, its Managing Member |
| | By: Next Play Capital, LLC, its Managing Member | By: Next Play Capital, LLC, its Managing Member |
| | By: | /s/ Eric Valle |
| | Print Name: Eric Valle | Print Name: Eric Valle |
| | Title: General Partner & Authorized Signatory | Title: General Partner & Authorized Signatory |
| Address: | [\*\*\*] | [\*\*\*] |

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| | | |
|:---|:---|:---|
| | **NPC OPPORTUNITY FUND, LP** | **NPC OPPORTUNITY FUND, LP** |
| | By: Next Play Capital GP II, LLC, its Managing Member | By: Next Play Capital GP II, LLC, its Managing Member |
| | By: | /s/ Eric Valle |
| | Print Name: Eric Valle | Print Name: Eric Valle |
| | Title: General Partner & Authorized Signatory | Title: General Partner & Authorized Signatory |
| Address: | [\*\*\*] | [\*\*\*] |

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| | | |
|:---|:---|:---|
| | **NEXT PLAY CAPITAL II, L.P.** | **NEXT PLAY CAPITAL II, L.P.** |
| | By: Next Play Capital GP II, LLC, its Managing Member | By: Next Play Capital GP II, LLC, its Managing Member |
| | By: | /s/ Eric Valle |
| | Print Name: Eric Valle | Print Name: Eric Valle |
| | Title: General Partner & Authorized Signatory | Title: General Partner & Authorized Signatory |
| Address: | [\*\*\*] | [\*\*\*] |

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| | | |
|:---|:---|:---|
| | **NEXT PLAY CAPITAL III, L.P.** | **NEXT PLAY CAPITAL III, L.P.** |
| | By: Next Play Capital GP III, LLC, its Managing Member | By: Next Play Capital GP III, LLC, its Managing Member |
| | By: | /s/ Eric Valle |
| | Print Name: Eric Valle | Print Name: Eric Valle |
| | Title: General Partner & Authorized Signatory | Title: General Partner & Authorized Signatory |
| Address: | [\*\*\*] | [\*\*\*] |

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **SENTINEL DOME PARTNERS, LLC**<br>as Investment Subadvisor for<br>NPB Manager Fund, SPC<br>on behalf of, and for the account of, <br>Segregated Portfolio 103 | **SENTINEL DOME PARTNERS, LLC**<br>as Investment Subadvisor for<br>NPB Manager Fund, SPC<br>on behalf of, and for the account of, <br>Segregated Portfolio 103 |
| | By: | /s/ Q. Munirul Alam |
| | Print Name: Q. Munirul Alam | Print Name: Q. Munirul Alam |
| | Title: Chief Executive Officer / Chief Investment Officer | Title: Chief Executive Officer / Chief Investment Officer |
| Address: | [\*\*\*] | [\*\*\*] |

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| | | |
|:---|:---|:---|
| | **SENTINEL DOME PARTNERS, LLC**<br>as Investment Advisor to<br>SDP Flagship Master Fund, LP | **SENTINEL DOME PARTNERS, LLC**<br>as Investment Advisor to<br>SDP Flagship Master Fund, LP |
| | By: | /s/ Q. Munirul Alam |
| | Print Name: Q. Munirul Alam | Print Name: Q. Munirul Alam |
| | Title: Chief Executive Officer / Chief Investment Officer | Title: Chief Executive Officer / Chief Investment Officer |
| Address: | [\*\*\*] | [\*\*\*] |

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**SIGNATURE PAGE TO**

**NOTE PURCHASE AGREEMENT**

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| | |
|:---|:---|
| **PURCHASERS:** | **PURCHASERS:** |
| **SIXTY DEGREE CAPITAL FUND II, L.P.,** | **SIXTY DEGREE CAPITAL FUND II, L.P.,** |
| **by its general partner, SIXTY DEGREE CAPITAL FUND II GP INC.** | **by its general partner, SIXTY DEGREE CAPITAL FUND II GP INC.** |
| By: | /s/ Jian Guo |
| Print Name: Jian Guo | Print Name: Jian Guo |
| Title: President | Title: President |
| By: | /s/ Feng Zu |
| Print Name: Feng Zu | Print Name: Feng Zu |
| Title: Secretary | Title: Secretary |

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| | | |
|:---|:---|:---|
| | **SIXTY DEGREE CAPITAL FUND II-A, L.P.,** | **SIXTY DEGREE CAPITAL FUND II-A, L.P.,** |
| | **by its general partner, SIXTY DEGREE CAPITAL FUND II GP INC.** | **by its general partner, SIXTY DEGREE CAPITAL FUND II GP INC.** |
| | By: | /s/ Jian Guo |
| | Print Name: Jian Guo | Print Name: Jian Guo |
| | Title: President | Title: President |
| | By: | /s/ Feng Zu |
| | Print Name: Feng Zu | Print Name: Feng Zu |
| | Title: Secretary | Title: Secretary |
| Address: | [\*\*\*] | [\*\*\*] |

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**SIGNATURE PAGE TO**

**NOTE PURCHASE AGREEMENT**

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **STANDARD LATITUDE MASTER FUND LTD.** | **STANDARD LATITUDE MASTER FUND LTD.** |
| | By: | /s/ David S. Winter |
| | Print Name: David S. Winter | Print Name: David S. Winter |
| | Title: Director | Title: Director |
| Address: | [\*\*\*] | [\*\*\*] |

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**SIGNATURE PAGE TO**

**NOTE PURCHASE AGREEMENT**

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **THE PRIVATE SHARES FUND** | **THE PRIVATE SHARES FUND** |
| | By: | /s/ Kevin Moss |
| | Print Name: Kevin Moss | Print Name: Kevin Moss |
| | Title: President  | Title: President  |
| Address: | [\*\*\*] | [\*\*\*] |

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**SIGNATURE PAGE TO**

**NOTE PURCHASE AGREEMENT**

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **TRUE VC, LLC – SERIES 13** | **TRUE VC, LLC – SERIES 13** |
| | By: True Ventures Management Company, LLC, its Manager | By: True Ventures Management Company, LLC, its Manager |
| | By: True Capital Management, LLC, its Manager | By: True Capital Management, LLC, its Manager |
| | By: | /s/ Heather Goodman |
| | Print Name: Heather Goodman | Print Name: Heather Goodman |
| | Title: President and Chief Operating Officer | Title: President and Chief Operating Officer |
| Address: | [\*\*\*] | [\*\*\*] |

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**SIGNATURE PAGE TO**

**NOTE PURCHASE AGREEMENT**

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **WHITEBOX RELATIVE VALUE PARTNERS, L.P.** | **WHITEBOX RELATIVE VALUE PARTNERS, L.P.** |
| | By: Whitebox Advisors LLC its investment manager | By: Whitebox Advisors LLC its investment manager |
| | By: | /s/ Luke Harris |
| | Print Name: Luke Harris | Print Name: Luke Harris |
| | Title: General Counsel | Title: General Counsel |
| Address: | [\*\*\*] | [\*\*\*] |

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**SIGNATURE PAGE TO**

**NOTE PURCHASE AGREEMENT**

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **WHITEBOX GT FUND, LP** | **WHITEBOX GT FUND, LP** |
| | By: Whitebox Advisors LLC its investment manager | By: Whitebox Advisors LLC its investment manager |
| | By: | /s/ Luke Harris |
| | Print Name: Luke Harris | Print Name: Luke Harris |
| | Title: General Counsel | Title: General Counsel |
| Address: | [\*\*\*] | [\*\*\*] |

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**SIGNATURE PAGE TO**

**NOTE PURCHASE AGREEMENT**

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **WHITEBOX MULTI-STRATEGY PARTNERS, L.P.** | **WHITEBOX MULTI-STRATEGY PARTNERS, L.P.** |
| | By: Whitebox Advisors LLC its investment manager | By: Whitebox Advisors LLC its investment manager |
| | By: | /s/ Luke Harris |
| | Print Name: Luke Harris | Print Name: Luke Harris |
| | Title: General Counsel | Title: General Counsel |
| Address: | [\*\*\*] | [\*\*\*] |

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**SIGNATURE PAGE TO**

**NOTE PURCHASE AGREEMENT**

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **PANDORA SELECT PARTNERS, L.P.** | **PANDORA SELECT PARTNERS, L.P.** |
| | By: Whitebox Advisors LLC its investment manager | By: Whitebox Advisors LLC its investment manager |
| | By: | /s/ Luke Harris |
| | Print Name: Luke Harris | Print Name: Luke Harris |
| | Title: General Counsel | Title: General Counsel |
| Address: | [\*\*\*] | [\*\*\*] |

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**SIGNATURE PAGE TO**

**NOTE PURCHASE AGREEMENT**

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **UZ INVESTMENTS LATAM I, LLC** | **UZ INVESTMENTS LATAM I, LLC** |
| | By: | /s/ Pablo Massana |
| | Print Name: Pablo Massana | Print Name: Pablo Massana |
| | Title: Manager | Title: Manager |
| Address: | [\*\*\*] | [\*\*\*] |

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**SIGNATURE PAGE TO**

**NOTE PURCHASE AGREEMENT**

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| | | |
|:---|:---|:---|
| | **PURCHASERS:** | **PURCHASERS:** |
| | **MVB FUND FCR** | **MVB FUND FCR** |
| | &nbsp;&nbsp;&nbsp;&nbsp;By: Kanoar Ventures SGEIC<br>as Management Company of MBV Fund | &nbsp;&nbsp;&nbsp;&nbsp;By: Kanoar Ventures SGEIC<br>as Management Company of MBV Fund |
| | By: | /s/ Carina Szpilka |
| | Print Name: Carina Szpilka | Print Name: Carina Szpilka |
| | Title: General Partner | Title: General Partner |
| Address: | [\*\*\*] | [\*\*\*] |

---

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| | | |
|:---|:---|:---|
| | **MVB FUND FCR** | **MVB FUND FCR** |
| | &nbsp;&nbsp;&nbsp;&nbsp;By: Kanoar Ventures SGEIC<br>as Management Company of MBV Fund | &nbsp;&nbsp;&nbsp;&nbsp;By: Kanoar Ventures SGEIC<br>as Management Company of MBV Fund |
| | By: | /s/ Ignacio Larru |
| | Print Name: Ignacio Larru | Print Name: Ignacio Larru |
| | Title: General Partner | Title: General Partner |
| Address: | [\*\*\*] | [\*\*\*] |

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**SIGNATURE PAGE TO**

**NOTE PURCHASE AGREEMENT**

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**<u>Schedule of Purchasers</u>**

[\*\*\*]

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<u>Exhibit A</u>

Form of Note

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**Secured Convertible Promissory Note**

**THIS NOTE, ANY SHARES OF CAPITAL STOCK ISSUABLE UPON CONVERSION OF THIS NOTE OR ANY REPLACEMENT NOTES ISSUABLE UPON EXCHANGE OF THIS NOTE, IN EACH CASE, HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES LAWS OF APPLICABLE STATES, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE DISTRIBUTION THEREOF. NO OFFER, SALE OR TRANSFER MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE ISSUER THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT.**

**THE HOLDER MAY NOT, DIRECTLY OR INDIRECTLY, TRANSFER THIS NOTE, EXCEPT IN ACCORDANCE WITH <u>SECTION 14</u> AND <u>SECTION 15</u> HEREOF.**

**THE FOLLOWING INFORMATION IS PROVIDED PURSUANT TO TREAS. REG. SECTION 1.1275-3: THIS DEBT INSTRUMENT IS ISSUED WITH ORIGINAL ISSUE DISCOUNT. THE CHIEF FINANCIAL OFFICER OF THE ISSUER, AS A REPRESENTATIVE OF THE ISSUER, WILL MAKE AVAILABLE ON REQUEST TO THE HOLDER OF THIS NOTE THE FOLLOWING INFORMATION: ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE, AND YIELD. THE ADDRESS OF THE CHIEF FINANCIAL OFFICER OF THE ISSUER IS 85 SECOND STREET, FIRST FLOOR, SAN FRANCISCO, CA 94105.** 

**SECURED CONVERTIBLE PROMISSORY NOTE**

Original Principal Amount: $[ 🟇 ]

Issuance Date: October 29, 2021

Note No. [ 🟇 ]

**FOR VALUE RECEIVED**, Neutron Holdings, Inc., a Delaware corporation (the "**Issuer**"), hereby promises to pay [***HOLDER***] or its registered assigns (the "**Holder**") the amount set out above as the Original Principal Amount, as such amount may be (i) increased pursuant to the payment in kind of any interest as provided in <u>Section 3</u> and any other additional amounts due and added to such amount pursuant to the terms hereof or (ii) reduced, without duplication, pursuant to any conversion, exchange, redemption or repayment effected in accordance with the terms hereof (the balance of such amount from time to time being the "**Outstanding Principal Balance**"), and any other amounts owed hereunder, when due, whether upon the Maturity Date, redemption, acceleration, or otherwise (in each case in accordance with the terms hereof). This Secured Convertible Promissory Note (including all Replacement Notes (as defined below) issued in exchange, transfer or replacement hereof, this "**Note**") is issued pursuant to the Purchase Agreement

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(as defined below). Capitalized terms used but not defined herein shall have the meanings set forth in the Purchase Agreement.

SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;<u>DEFINITIONS</u>. The following terms used in this Note will have the respective meanings set forth below:

"**Act**" means the Securities Act of 1933, as amended from time to time, and any rules or regulations promulgated thereunder.

"**Affiliate**" means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified.

"**Applicable Rate**" means four percent (4.00%) from the Issuance Date to and including April 29, 2023, increasing by one half of one percent (0.50%) on April 30, 2023 and thereafter increasing by one percent (1.00%) at every successive six-month interval, up to a maximum of eight percent (8.00%); *provided* that upon and after the occurrence of a Non-Qualified Public Company Event, the Applicable Rate shall mean eight percent (8.00%).

"**Business Day**" means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by Law to remain closed.

"**Cap Price**" means an amount equal to the quotient of (x) $1,500,000,000 <u>divided</u> <u>by</u> (y) the aggregate outstanding share count of the Issuer as of the applicable Conversion Date (based on outstanding shares, warrants, restricted stock units and allocated options (using the Treasury method)) (subject to appropriate adjustment in the event of any stock dividend, stock split, stock combination, recapitalization or any other similar transaction or event with respect to the Capital Stock of the Issuer), excluding, for the avoidance of doubt, the Conversion Securities issued upon conversion of the Notes, in the event of conversion in connection with a Public Company Event, any shares issued in connection with a Public Company Event, in the event of a conversion in connection Change of Control Event, any shares issued in connection with such Change of Control Event, and in the event of a conversion in connection with a Next Financing, any shares issued in connection with such Next Financing.

"**Capital Stock**" means, with respect to a specified Person, any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of, or interest in (howsoever designated), the equity of such Person, but not including any debt securities convertible into such equity and any non-convertible preferred stock or equity of such Person.

"**Change of Control Conversion Price**" means, with respect to a Change of Control Event, an amount equal to the lesser of (i) Cap Price and (ii) the product of (A) the price per share of the Common Equity of the Issuer implied by the definitive transaction agreement for such Change of Control Event <u>multiplied</u> <u>by</u> (B) the Discount Rate as of the Change of Control Effective Time.

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"**Change of Control Effective Time**" means the "effective time" or similar point in time at which a Change of Control Event closes or is otherwise deemed to be consummated.

"**Change of Control Event**" means (i) a transaction or series of related transactions in which a Person, or a group of related Persons, acquires from stockholders of the Issuer shares representing more than fifty percent (50%) of the outstanding voting power of the Issuer, (ii) a sale, lease or transfer, in one or a series of related transactions, of all or substantially all of the assets of the Issuer and its Subsidiaries, taken as a whole, (iii) a transaction that qualifies as a "Deemed Liquidation Event" as defined in the Amended and Restated Certificate of Incorporation of the Issuer as of the date hereof or (iv) the exercise of the Call Option. For the avoidance of doubt, a deSPAC Transaction shall not constitute a Change of Control Event.

"**Change of Control Notice**" has the meaning specified in <u>Section 5(a)</u>.

"**Close of Business**" means 5:00 p.m., New York City time.

"**Code**" means the United States Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated and rulings issued thereunder.

"**Common Equity**" of any Person means, if such Person is a corporation, all common stock of such Person (including voting, limited voting and non-voting common stock) or, if such Person is not a corporation, the equivalent Capital Stock of such Person.

"**Control**" means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. "**Controlling**" and "**Controlled**" have meanings correlative thereto.

"**Conversion Date**" means the date on which the Conversion Time occurs.

"**Conversion Election Notice**" means a written notice delivered by a Holder to the Issuer confirming that the Holder has elected to convert all or a portion of the Notes pursuant to <u>Section 4(b)(ii)</u> or <u>Section 9</u>.

"**Conversion Securities**" means, (i) with respect to any conversion in connection with a Public Company Event that is not a deSPAC Transaction, shares of the class of Common Equity that are registered under the Exchange Act in connection with such Public Company Event and listed for trading on a Principal Market, (ii) with respect to any conversion in connection with a Public Company Event that is a deSPAC Transaction, shares of the Common Equity of the Issuer immediately prior to the Conversion Time for such Public Company Event, (iii) with respect to any conversion in connection with a Change of Control Event, shares of the Common Equity of the Issuer immediately prior to the Conversion Time for such Change of Control Event, and (iv) with respect to any conversion in connection with a Next Financing, the Next Financing Equivalent Securities.

"**Conversion Time**" means, (i) with respect to any Public Company Event that is an underwritten initial public offering, the time of the execution of the underwriting agreement

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entered into by the Issuer and the underwriters in connection with such Public Company Event, (ii) with respect to any Public Company Event that is a deSPAC Transaction, immediately prior to the deSPAC Effective Time, (iii) in the case of any other Public Company Event not specified in <u>clause (i)</u> or <u>(ii)</u>, the Close of Business on the fifth (5<sup>th</sup>) Trading Day in respect of such Public Company Event, (iv) in the case of a Change of Control Event, immediately prior to the Change of Control Effective Time; <u>provided</u> that, in each case, settlement of the delivery of the applicable Conversion Securities shall be effected in accordance with <u>Section 7</u> and (v) with respect to any conversion in connection with a Next Financing, at the initial closing of the Next Financing.

"**Co-Sale Agreement**" means that certain Right of First Refusal and Co-Sale Agreement of the Issuer, dated as of May 7, 2020, as the same may be further amended, restated, amended and restated or supplemented from time to time.

"**Debtor Relief Laws**" means the Chapter 11 of Title 11 of the United States Code, as amended from time to time, and any successor statute and all rules and regulations promulgated thereunder, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect.

"**Derivative Securities**" has the meaning ascribed to that term in the Rights Agreement.

"**deSPAC Effective Time**" means the "effective time" or similar point in time at which the business combination or similar transaction between the Issuer and the SPAC closes or is otherwise deemed to be consummated.

"**deSPAC Transaction**" means a merger, acquisition or other business combination involving (i) the Issuer or any Successor Issuer and (ii) a SPAC, which results in the Common Equity of the Issuer as of immediately prior to such transaction being converted into or exchanged for securities of the SPAC (or any Successor Issuer) registered under Section 12(b) of the Exchange Act.

"**Direct Listing**" means the initial listing of the Common Equity of the Issuer or the Successor Issuer under Section 12(b) of the Exchange Act without a contemporaneous underwritten public offering. For the avoidance of doubt, a 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 Direct Listing.

"**Discount Rate**" means 0.800; *provided* that with respect to the conversion of this Note in connection with, or from and after, a Non-Qualified Public Company Event, the Discount Rate shall mean 0.750.

"**Exchange Act**" means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder promulgated by the SEC.

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"**FATCA**" means Sections 1471 through 1474 of the Code, as of the date of this Note (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code, any intergovernmental agreement, treaty, convention or other published agreement between a non-U.S. jurisdiction and the United States with respect to the foregoing and any law or regulation or official rules or practices adopted pursuant to any such intergovernmental agreement, treaty, convention or other published agreement.

"**Governmental Authority**" means the government of the United States, any other nation, or any political subdivision thereof, whether state, provincial or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies).

"**Holder**" has the meaning specified in the introductory paragraph.

"**Indebtedness for Borrowed Money**" with respect to a particular Person means (i) all obligations of such Person for borrowed money pursuant to credit or similar agreements and (ii) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments; <u>provided</u> that "Indebtedness for Borrowed Money" shall not include any obligations with respect to seller notes, trade accounts payable, deferred revenues, operating leases, deferred compensation, deferred tax liabilities, deferred purchase price of property or services, prepaid revenues, reimbursement in connection with letters of credit, letters of guaranty, and bankers' acceptances and swap and other hedging instruments.

"**Interest Payment Date**" means April 29 and October 29 of each year commencing on October 29, 2022.

"**Internal Reorganization Transaction**" means a <u>bona</u> <u>fide</u> internal reorganization transaction pursuant to which (i) the Issuer either merges into a Successor Issuer or becomes a wholly owned subsidiary of a Successor Issuer and (ii) all or substantially all of the Common Equity of such Successor Issuer is owned, directly or indirectly, by Persons who were stockholders of the Issuer immediately prior to the consummation of such transaction, in substantially the same proportions as immediately prior to the consummation of such transaction.

"**Issuance Date**" means October 29, 2021.

"**Issuer**" has the meaning specified in the introductory paragraph; <u>provided</u>, <u>however</u>, that if any Successor Issuer or other Person assumes this Note pursuant to the terms hereof, such Successor Issuer or other Person shall be deemed to be the Issuer.

**"Law**" means any law (including common law), constitution, statute, treaty, regulation, rule, ordinance, code, ruling, or order of, including the administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, or any agreement with, any Governmental Authority.

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"**Maturity Date**" means October 29, 2025.

"**Merger Event**" means (i) any merger or other similar transaction to which the Issuer is a party as a result of which the Common Equity, in whole or in part, is converted into or exchanged for cash or securities of any Successor Issuer or (ii) the sale, lease, exchange, exclusive, irrevocable license or other transfer of all or substantially all of the Issuer's properties or assets (as determined on a consolidated basis) to any Successor Issuer (other than among the Issuer and its subsidiaries), in each case, in which such event is not (A) a Change of Control Event for which a conversion pursuant to <u>Section 5(b)</u> has been effected, (B) an Internal Reorganization Transaction or (C) a deSPAC Transaction.

"**Next Financing**" means a <u>bona</u> <u>fide</u> preferred stock financing of Capital Stock of the Issuer.

"**Next Financing Conversion Price**" means the lesser of (i) the Cap Price and (ii) an amount equal to the product of (x) a price per share equal to the lowest cash price per share of the shares of preferred stock issued by the Issuer in the Next Financing and (y) the Discount Rate as of the date of the Next Financing.

"**Next Financing Equivalent Securities**" means shares of preferred stock of the Issuer having the same or substantially similar rights and transfer restrictions (as nearly as commercially reasonable) as shares of preferred stock of the Issuer issued in a Next Financing; provided that any "original issue price", "conversion price" or similar value of the Next Financing Equivalent Securities shall be based on the Next Financing Conversion Price rather than the applicable value with respect to the shares of Capital Stock issued in the Next Financing.

"**Non-Conversion Redemption Option**" has the meaning specified in Section 8.

"**Non-Qualified Public Company Event**" means any Public Company Event that is not a Qualified Public Company Event.

"**Note**" has the meaning specified in the introductory paragraph.

"**Note Obligations Amount**" means, as of any date of determination, the sum of (i) the Outstanding Principal Balance <u>plus</u> (ii) any accrued and unpaid interest thereon to but not including such date.

"**Notes**" means this Note, together with all other secured convertible promissory notes issued pursuant to the Purchase Agreement and any notes issued in exchange, transfer or replacement of such other secured convertible promissory notes.

"**Open of Business**" means 9:00 a.m., New York City time.

"**Original Principal Amount**" is the amount specified above the introductory paragraph of this Note.

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"**Outstanding Principal Balance**" has the meaning specified in the introductory paragraph of this Note.

"**PCE Conversion Price**" means, as of an applicable Conversion Date, the lesser of (i) the Cap Price and (ii) the product of (x) the Public Price <u>multiplied</u> <u>by</u> (y) the Discount Rate as of such date.

"**Person**" means any individual, corporation, limited liability company, partnership, trust, association or other entity.

"**PIK Interest Payment**" has the meaning specified in <u>Section 3(b)</u>.

"**PIK Interest Payment Date**" has the meaning specified in <u>Section 3(b)</u>.

"**PIPE Investment**" means, with respect to a deSPAC Transaction, the private placement of Common Equity of the SPAC, the Successor Issuer or the Issuer in connection with such deSPAC Transaction.

"**Principal Market**" means the New York Stock Exchange, the Nasdaq Stock Market or any other national stock exchange on which the Conversion Securities are listed in connection with the applicable Public Company Event.

"**Public Company Event**" means any transaction pursuant to which the Common Equity of the Issuer (including any Successor Issuer) becomes registered under Section 12(b) of the Exchange Act, including, for the avoidance of doubt, an underwritten initial public offering, a deSPAC Transaction, a Merger Event in which the Issuer or the Successor Issuer has Common Equity registered under Section 12(b) of the Exchange Act or a Direct Listing.

"**Public Company Event Notice**" has the meaning specified in <u>Section 4(a)</u>.

"**Public Filing Date**" means the date of the initial public filing or submission of the registration statement with the SEC in connection with a Public Company Event.

"**Public Price**" means (i) with respect to a Public Company Event that is a Direct Listing, the volume-weighted average of the VWAP per share of the Conversion Securities on each of the first Trading Day in respect of such Public Company Event and the next four (4) consecutive Trading Days, (ii) with respect to any Public Company Event that is an underwritten initial public offering, the per share offering price to the public to be set forth in the definitive underwriting agreement for such underwritten public offering, and (iii) with respect to a Public Company Event that is a deSPAC Transaction, the per share price implied to one share of Common Equity of the Issuer based on the price per share of the PIPE Investment to be issued in connection with the consummation of the deSPAC Transaction (<u>provided</u> that, if there is no PIPE Investment in connection with such deSPAC Transaction, then the Public Price means the price per share paid in the initial public offering of the SPAC).

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"**Purchase Agreement**" means that certain Secured Convertible Promissory Note Purchase Agreement, dated as of October 29, 2021, by and among the Issuer and the investors listed on the Schedule of Holders thereto from time to time, as may be amended, restated, amended and restated or otherwise modified in accordance with its terms from time to time.

"**Qualified Public Company Event**" means any Public Company Event in which the Issuer and the selling stockholders receive aggregate gross proceeds (before deduction of underwriters' discounts and commissions or other similar fees, if any) of at least $100,000,000, which, for the avoidance of doubt, in connection with a deSPAC Transaction shall include any PIPE Investment proceeds and any unredeemed funds in the cash trust account of the SPAC.

"**Redemption Date**" has the meaning specified in <u>Section 8</u>.

"**Register**" has the meaning specified in <u>Section 14(e)</u>.

"**Registered Notes**" has the meaning specified in <u>Section 14(e)</u>.

"**Replacement Notes**" has the meaning specified in <u>Section 15(a)</u>.

"**Requisite Holders**" means Holders of a majority of the Outstanding Principal Balance of the Notes.

"**Replacement Notes**" has the meaning specified in <u>Section 15(a)</u>.

"**Rights Agreement**" means that certain Investors' Rights Agreement of the Issuer, dated as of May 7, 2020, as the same may be further amended, restated, amended and restated or supplemented from time to time.

"**SEC**" means the U.S. Securities and Exchange Commission.

"**SPAC**" means a publicly traded special purpose acquisition company or other similar entity that is a "blank check" company under applicable U.S. securities laws.

"**Subsidiary**" means any subsidiary (as defined below) of the Issuer.

"**subsidiary**" means, with respect to any specified Person (the "**parent**") and as of any date, any corporation, limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent's consolidated financial statements if such financial statements were prepared in accordance with U.S. generally accepted accounting principles as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership interests representing more than fifty percent (50%) of the equity or more than fifty percent (50%) of the ordinary voting power or, in the case of a partnership, more than fifty percent (50%) of the general partnership interests are, as of such date, owned, Controlled or held, or (b) that is, as of such date, otherwise Controlled by the parent or one or more subsidiaries of the parent or by the parent and one or more

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subsidiaries of the parent and which is required by U.S. generally accepted accounting principles to be consolidated in the consolidated financial statements of the parent.

"**Successor Issuer**" means a Person who is a successor of the Issuer or a Person who issues Common Equity in any Internal Reorganization Transaction, deSPAC Transaction or Merger Event (other than a Change of Control Event) in which the Common Equity of the Issuer is converted into, or exchanged for, in whole or in part, Common Equity of such Person (including, for the avoidance of doubt, a parent of the surviving or acquiring person in such Internal Reorganization Transaction, deSPAC Transaction or Merger Event, as applicable).

"**Taxes**" means any and all taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

"**Trading Day**" means, with respect to any Conversion Securities, a day on which trading in the Conversion Securities generally occurs on the Principal Market.

"**Transferee**" means the transferee designated by the Holder in accordance with <u>Section 15</u>.

"**U.S. Person**" means any Person that is a "United States person" as defined in Section 7701(a)(30) of the Code.

"**Voting Agreement**" means that certain Voting Agreement of the Issuer, dated as of May 7, 2020, as in effect as of the date hereof.

"**VWAP**" means, with respect to the Conversion Securities and any Trading Day, the dollar volume-weighted average sale price for one share of the Conversion Securities on the Principal Market on that particular Trading Day during the period beginning at 9:30 a.m., New York City Time (or such other time as the Principal Market publicly announces is the official open of trading), and ending at 4:00 p.m., New York City Time (or such other time as the Principal Market publicly announces is the official close of trading), as reported by Bloomberg Financial Markets (or, if not available, a similar service provider of national recognized standing mutually selected by the Issuer) through its "Volume at Price" function. If the VWAP cannot be calculated for such security on such date on the foregoing basis, the VWAP of such security on such date shall be the fair market value as reasonably determined in good faith by the Issuer. Such price shall be appropriately adjusted for any stock dividend, stock split, stock combination, recapitalization or other similar transaction or event during such period.

SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;<u>PAYMENT OF PRINCIPAL</u>. If this Note has not yet been converted, redeemed, exchanged or repaid in full, an amount in cash equal to (A) the Note Obligations Amount as of the Maturity Date divided by (B) the Discount Rate shall be due and payable on the Maturity Date. Except as specifically permitted herein, including in <u>Section 4(b)(ii)</u>, the Issuer may not voluntarily prepay or redeem this Note prior to the Maturity Date.

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SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;<u>PAYMENT OF INTEREST</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;During the term of this Note, interest shall accrue daily on the Outstanding Principal Balance at a rate equal to the Applicable Rate, as of each such date, from, and including, the Issuance Date to, but not including, the Maturity Date or such earlier date of redemption, prepayment or conversion, which, in the case of conversion shall be deemed to occur at the Conversion Time. The accrual of interest on this Note as of any date will be calculated based on the Outstanding Principal Balance of this Note as of the Close of Business on the immediately preceding Interest Payment Date or, if there is no preceding Interest Payment Date, on the Issuance Date (in each case, less any amounts previously redeemed or repaid following such date from and after the date of such redemption or repayment).

&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;Accrued and unpaid interest shall be payable semi-annually in arrears by, at the Issuer's election (in its sole discretion) on each Interest Payment Date, either (i) solely prior to a Non-Qualified Public Company Event adding such accrued interest to the Outstanding Principal Balance under this Note on such Interest Payment Date (such payment, a "**PIK Interest Payment**," and such Interest Payment Date, a "**PIK Interest Payment Date**"), which addition of accrued interest will be effective as of the Open of Business on such PIK Interest Payment Date, or (ii) paying such accrued interest in cash on such Interest Payment Date in accordance with Section 17(b); provided that no interest previously paid pursuant to a PIK Interest Payment may be paid following the relevant PIK Interest Payment Date as accrued interest pursuant to clause (i) of this sentence. In the event that the Issuer does not elect whether to pay interest in kind or in cash on or before an Interest Payment Date, the Issuer shall be deemed to have elected to have made a PIK Interest Payment (and shall update the Register accordingly). Interest shall accrue and shall be computed on the basis of a 360-day year composed of twelve (12) thirty (30)-day months.

&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;On each PIK Interest Payment Date, (i) the Issuer shall make a record on its books and in the Register of the increase in the Outstanding Principal Balance of this Note, if any, as a result of any PIK Interest Payment, which addition of accrued interest will be effective as of the Open of Business on such PIK Interest Payment Date, (ii) each Note shall represent the increased Outstanding Principal Balance, if any, and (iii) no separate Note will be issued with respect to such increase.

SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;<u>PUBLIC COMPANY 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Public Company Event Notice.</u> No later than the earlier of (i) ten (10) Business Days prior to the anticipated Public Filing Date and (ii) fifteen (15) Business Days prior to entry into a definitive agreement with respect to a deSPAC Transaction, the Issuer shall provide to the Holder a written notice (the "**Public Company Event Notice**") that it intends to make an initial public filing of a registration statement in connection with a Public Company Event or enter into such definitive agreement, as the case may be.

&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>Public Company Event Conversion Process.</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;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Qualified Public Company Event</u>. Upon the occurrence of a Qualified Public Company Event, the Notes shall be automatically converted in full at the Conversion Time

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into a number of Conversion Securities equal to (1) the Note Obligations Amount as of the Conversion Time <u>divided</u> <u>by</u> (2) the PCE Conversion Price in accordance with <u>Section 7</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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;<u>Non-Qualified Public Company Event</u>. Upon the occurrence of a Non-Qualified Public Company 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;(1)&nbsp;&nbsp;&nbsp;&nbsp;if a Holder timely delivers to the Issuer a Conversion Election Notice in accordance with <u>Section 7(e)</u>, all or a portion of this Note shall convert at the Conversion Time into a number of Conversion Securities equal to (1) the Note Obligations Amount (or the portion of such Note Obligations Amount specified in such Conversion Election Notice) as of the Conversion Time <u>divided</u> <u>by</u> (2) the PCE Conversion Price in accordance with <u>Section 7</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)&nbsp;&nbsp;&nbsp;&nbsp;if a Holder does not timely deliver a Conversion Election Notice in accordance with <u>Section 7(e)</u>, the Issuer, in its sole discretion, shall be entitled to exercise the Non-Conversion Redemption Option in accordance with <u>Section 8</u>; 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;(3)&nbsp;&nbsp;&nbsp;&nbsp;if a Holder does not timely deliver a Conversion Election Notice as set forth in <u>Section 7(e)</u> and the Issuer does not timely exercise the Non-Conversion Redemption Option in accordance with <u>Section 8</u>, this Note shall remain outstanding in full force and effect, and thereafter, the Holder may deliver to the Issuer a Conversion Election Notice (which notice may specify the date of conversion of the Notes referenced therein) at any time at or prior to the Close of Business on the date that is thirty (30) Business Days prior to the Maturity Date, and this Note shall convert in full upon the Close of Business on the date specified in such notice into a number of Conversion Securities equal to (1) the Note Obligations Amount as of the conversion date <u>divided</u> <u>by</u> (2) the PCE Conversion Price in accordance with <u>Section 7</u>.

SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;<u>CHANGE OF CONTROL 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Change of Control Event Notice.</u> The Issuer shall deliver to the Holder a written notice of a Change of Control Event (the "**Change of Control Notice**") no later than thirty (30) days prior to the anticipated Change of Control Effective Time; provided, that if the Issuer does not have thirty (30) days' prior knowledge of such Change of Control Event, it shall provide a Change of Control Notice as soon as practicable after obtaining knowledge thereof, and in any event no later than ten (10) Business Days prior to the anticipated Change of Control Effective Time. The date of the anticipated Change of Control Effective Time will be determined in good faith by the Issuer.

&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>Conversion to Common Equity.</u> Upon the occurrence of a Change of Control Event, if this Note has not previously been redeemed, converted, exchanged or repaid in full as of the Change of Control Effective Time, as the case may be, this Note shall, subject to Section 4(b)(ii)(1), automatically convert in full as of the Change of Control Effective Time into a number of shares of Common Equity of the Issuer equal to (1) the Note Obligations Amount as of the Conversion Time divided by (2) the Change of Control Conversion Price.

SECTION 6.&nbsp;&nbsp;&nbsp;&nbsp;<u>MERGER COVENANT</u>. In no event shall the Issuer effect an Internal Reorganization Transaction or a Merger Event (other than a Change of Control Event)

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without the prior written consent of the Requisite Holders, unless (i) the Successor Issuer is properly classified as a U.S. corporation for U.S. federal income tax purposes and (ii) if the Issuer becomes a wholly owned subsidiary of a Successor Issuer in connection therewith, (x) the Successor Issuer becomes an additional obligor on the Notes (together with the Issuer) and expressly assumes this Note and the conversion obligations, if any, and payment obligations under this Note and (y) the Notes thereafter are convertible into the Common Equity of such Successor Issuer in accordance with the terms of and conditions of this Note.

SECTION 7.&nbsp;&nbsp;&nbsp;&nbsp;<u>CONVERSION PROCEDURES</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>General Conversion Procedures.</u> If the issuance of the Conversion Securities would result in the issuance of a fractional share of the Conversion Securities, such fractional share shall be forfeited. The Issuer shall pay any transfer, stamp or similar Tax due on the issuance or delivery of the Conversion Securities upon conversion, except any such transfer, stamp or similar Tax that is due because the converting Holder requests those shares to be registered in a name other than the Holder's name, in which case the Issuer shall not be required to make any such issuance or delivery of the Conversion Securities upon conversion unless and until the Person otherwise entitled to such issuance or delivery has paid to the Issuer the amount of any such transfer, stamp or similar Tax or has established, to the satisfaction of the Issuer, that such transfer, stamp or similar Tax has been paid or is not payable. Delivery of Conversion Securities shall, unless otherwise requested in writing by the Holder and agreed by the Issuer, be by means of delivery of book entry shares to the account of the Holder or to the account of the securities intermediary of the Holder for the benefit of the Holder, in each case, pursuant to the instructions provided pursuant to this Section 7.

&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>Conversion Procedures.</u> In connection with any conversion of this Note, the Holder shall promptly (i) deliver instructions for delivery of the Conversion Securities and (ii) surrender this Note to the Issuer (or, in the case of the loss, theft or destruction of this Note, provide an indemnification undertaking with respect to this Note that is reasonably satisfactory to the Issuer) no later than the second (2<sup>nd</sup>) Business Day immediately preceding the Conversion Time; provided that failure to timely deliver instructions for delivery of the Conversion Securities or to timely surrender this Note shall toll but not release the Issuer of its obligations hereunder or delay the Conversion Date of this Note. Upon conversion of this Note, the Issuer shall deliver the Conversion Securities to the Holder no later than by 12:00 p.m. New York time on the later of, (x) (A) with respect to a Public Company Event other than a deSPAC Transaction, the second (2<sup>nd</sup>) Trading Day immediately following the Conversion Time and (B) with respect to a deSPAC Transaction or a Change of Control Event, the Conversion Time, and (y) the second (2<sup>nd</sup>) Trading Day following the day on which the Holder delivers to the Issuer settlement instructions pursuant to sub-clause (i) above. The Holder at the Conversion Time in connection with a Public Company Event pursuant to Section 4(b) shall be treated for all purposes as the beneficial owner of such Conversion Securities as of such Conversion Time. From and after the time at which the Conversion Securities are delivered to the Holder in accordance with the immediately preceding sentence, this Note (or the portion hereof representing such Conversion Securities) shall be deemed to be satisfied by the Issuer and shall cease to be outstanding for any purpose whatsoever.

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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;<u>deSPAC and Change of Control Transaction Conversion.</u> Without limiting the foregoing, in connection with the conversion upon a Public Company Event that constitutes a deSPAC Transaction or upon any Change of Control Event, the Issuer shall cause the conversion to occur in a manner such that the Holder shall receive Common Equity of the Issuer entitled to receive consideration in the deSPAC Transaction or Change of Control Event pursuant to the definitive agreement for the deSPAC Transaction or Change of Control Event, as the case may be. The Holder agrees that no share certificate shall be required to be issued in connection with the conversion into Common Equity of the Issuer in connection with the deSPAC Transaction or a Change of Control Event if the Conversion Securities shall be exchanged for consideration in connection with the deSPAC Transaction or the Change of Control 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Delays.</u> Without limiting any of the foregoing, if the Holder fails promptly to (i) deliver instructions for delivery of the Conversion Securities and (ii) surrender this Note to the Issuer (or in the case of the loss, theft or destruction of this Note, provide an indemnification undertaking with respect to this Note that is reasonably satisfactory to the Issuer) by the second (2<sup>nd</sup>) Business Day immediately preceding the Conversion Time, the Issuer will still be deemed to have converted this Note at such Conversion Time and shall hold, for the benefit of the Holder, the Conversion Securities or any other securities issued in exchange for, or upon conversion of, such Conversion Securities until receipt of the requisite delivery instructions and the Note (or indemnification in accordance with this Section 7).

&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;<u>Non-Qualified Public Company Event.</u> In the event of a Non-Qualified Public Company Event, a Holder shall provide notice to the Issuer of their election to convert in connection with such Non-Qualified Public Company Event (the "**Conversion Election Notice**") at or prior to the Close of Business on the later of (i) the date that is two (2) Business Days prior to the anticipated consummation of the Public Company Event and (ii) the date that is five (5) Business Days after the date of the Public Company Event Notice.

SECTION 8.&nbsp;&nbsp;&nbsp;&nbsp;<u>REDEMPTION PROCEDURES</u>. In the event of a Non-Qualified Public Company Event in which a Holder does not timely deliver a Conversion Election in accordance with <u>Section 7(e)</u>, following the consummation of such Non-Qualified Public Company Event, but on or prior to the date that is twenty (20) Business Days after the consummation of the Non-Qualified Public Company Event, the Issuer may exercise its option (the "**Non-Conversion Redemption Option**"), in its sole discretion, to redeem this Note in full. In order to exercise the Non-Conversion Redemption Option, the Issuer shall select the date that such optional redemption shall occur, which shall in no event be more than thirty (30) Business Days following the consummation of the Non-Qualified Public Company Event (the "**Redemption Date**"), and deliver written notice of such Non-Conversion Redemption Option, and the related Redemption Date, to the Holder not less than ten (10) Business Days prior to the Redemption Date (the "**Redemption Notice**"). Upon delivery of a Redemption Notice, the Holder shall have the opportunity to deliver a Conversion Election Notice within ten (10) Business Days of such delivery, and upon delivery of such Conversion Election Notice, notwithstanding anything to the contrary, this Note shall be converted pursuant to Section 4(b)(ii)(1) and the Conversion Time shall be the Business Day following the date on which such Conversion Election

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Notice is delivered by the Holder. In connection with a redemption of this Note pursuant to the Non-Conversion Redemption Option, the Holder shall surrender this Note to the Issuer (or in the case of the loss, theft or destruction of this Note, provide an indemnification undertaking with respect to this Note that is reasonably satisfactory to the Issuer) and provide wire instructions to the Issuer for such payment no later than the fifth (5<sup>th</sup>) Business Day immediately preceding the Redemption Date; <u>provided</u> that failure to timely surrender this Note shall toll but not release the Issuer of its obligations hereunder, and, for the avoidance of doubt, no interest shall accrue on this Note after the Redemption Date. On the later of Redemption Date and the date that is five (5) Business Days after the date on which the Holder provides wire instructions to the Issuer and the Note (or indemnification in accordance with this <u>Section 7</u>), the Issuer shall pay to the Holder an amount in cash equal to (A) the Note Obligations Amount as of the Redemption Date divided by (B) the Discount Rate. Upon satisfaction of the Issuer's redemption obligations, this Note shall be deemed to be satisfied by the Issuer and shall cease to be outstanding for any purpose whatsoever.

SECTION 9.&nbsp;&nbsp;&nbsp;&nbsp;<u>SUBSEQUENT FINANCING</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>Next Financing Notice.</u> The Issuer shall deliver to the Holder a written notice of a Next Financing no later than fifteen (15) Business Days prior to the anticipated initial closing of the Next Financing; provided, that if the Issuer does not have fifteen (15) Business Days' prior knowledge of such Next Financing, it shall provide such notice as soon as practicable after obtaining knowledge thereof, and in any event no later than ten (10) Business Days prior to the anticipated initial closing of the Next Financing. The date of the anticipated initial closing of the Next Financing will be determined in good faith by the Issuer.

&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>Optional Conversion.</u> Upon the occurrence of a Next Financing, if this Note has not previously been redeemed, converted, exchanged or repaid in full as of the closing of the Next Financing, as the case may be, all or a portion of this Note shall, at the election of a Holder and upon provision of a Conversion Election Notice at or prior to the Close of Business on no later than the date that is five (5) Business Days prior to the anticipated consummation of the Next Financing, convert as of the closing of the Next Financing into a number of shares of Next Financing Equivalent Securities equal to (1) the Note Obligations Amount (or the portion of such Note Obligations Amount specified in such Conversion Election Notice) as of the closing of the Next Financing divided by (2) the Next Financing Conversion Price. The Holder hereby agrees to execute and become party to all customary agreements that the Company reasonably requests in connection with such Next Financing; provided that such agreements are entered into by all investors in the Next Financing; and provided further that such agreements have customary exceptions to any drag-along applicable to the Holder, including, without limitation, limited representations and warranties and limited liability and indemnification obligations on the part of the Holder.

SECTION 10.&nbsp;&nbsp;&nbsp;&nbsp;<u>PRIORITY</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;This Note is subject to the terms of the Intercreditor Agreement.

SECTION 11.&nbsp;&nbsp;&nbsp;&nbsp;<u>AUTHORIZED SHARES</u>. So long as this Note is outstanding, the Issuer shall, as of at or immediately prior to the applicable Conversion Time, take all action

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reasonably necessary, including amending the Issuer's governing documents to authorize and reserve the requisite number of shares of Conversion Securities, for the purpose of effecting the conversion of this Note, such that the number of shares of Conversion Securities shall be duly and validly authorized, reserved (to the extent applicable) and available for issuance at the time of the conversion of this Note and the other Notes, as applicable, and upon issuance in accordance with the terms of this Note and the other Notes, as applicable, the Conversion Securities will be duly and validly issued, fully paid and nonassessable and free of restrictions on transfer other than restrictions on transfer under this Note and the other Notes, as applicable, the Issuer's governing and stockholder documents, any "lock-up" or similar agreements entered into by the Holder and applicable federal and state securities laws

SECTION 12.&nbsp;&nbsp;&nbsp;&nbsp;<u>NO VOTING OR OTHER RIGHTS</u>. This Note does not entitle the Holder to any voting rights or other rights as a stockholder of the Issuer unless and until (and only to the extent that) this Note is actually converted into shares of the Issuer's Capital Stock in accordance with its terms (and in such case, only such rights as are applicable to such shares of the Issuer's Capital Stock). In the absence of conversion of this Note into Conversion Securities, no provisions of this Note and no enumeration herein of the rights or privileges of the Holder shall cause the Holder to be a stockholder of the Issuer for any purpose.

SECTION 13.&nbsp;&nbsp;&nbsp;&nbsp;<u>AMENDMENTS</u>. This Note, and any of the terms and provisions hereof, may be amended, waived or modified only in accordance with Section 9.8 of the Purchase Agreement.

SECTION 14.&nbsp;&nbsp;&nbsp;&nbsp;<u>TRANSFERS</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;This Note may not be directly or indirectly offered, sold, assigned or transferred by the Holder without the Issuer's consent, which shall not be unreasonably withheld; provided, that no such consent shall be required in the case of an Affiliate Transfer (as defined below). Any offer, sale, assignment or other transfer of this Note in contravention of the provisions of this Section 14 shall be deemed to be null and void *ab initio*.

&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;For the avoidance of doubt, no change in the identity of the partners, members or stockholders of the Holder shall constitute an indirect sale or transfer of this Note so long as there is no change of Control 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;In connection with any assignment or transfer of this Note (in whole or in part), the transferee shall agree to be bound by, and shall become party to, the Purchase Agreement by execution of a counterpart signature page thereto. Any offer, sale, assignment or other transfer of this Note is also subject to the restrictive legends of this Note.

&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;Notwithstanding anything to the contrary, the Holder may transfer this Note in whole or in part to (i) an Affiliate, or (ii) an affiliated investment fund or vehicle that is under common Control with the Holder (such transfer an "**Affiliate 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;The Issuer shall maintain and keep updated a register (the "**Register**") for the recordation of the names, email addresses and mailing addresses of the holder of each Note and the Outstanding Principal Balance of such Note (and any accrued interest) (the

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"**Registered Notes**"). The initial email address and mailing address for the Holder of this Note shall be the email address and mailing address set forth on the Holder's signature page hereto and may be updated, from time to time, by written notice to the Issuer, in accordance with Section 17. The entries in the Register shall be conclusive and binding for all purposes absent manifest error. The Issuer and the holders of the Notes shall treat each Person whose name is recorded in the Register as the owner of the applicable Note for all purposes, including the right to receive payments hereunder, notwithstanding notice to the contrary. Upon the written request of the Holder, the Issuer shall provide to the Holder a copy of the portion of the Register related to the Holder and this Note and backup calculations for the values relating to this Note set forth in the Register. A Registered Note may be assigned or sold in whole or in part, to the extent explicitly permitted by this Section 14 and any other terms hereof, only by registration of such assignment or sale on the Register. Upon its receipt of a satisfactory request to assign or sell all or part of any Registered Note by the holder of the applicable Registered Note and the physical surrender of such applicable Registered Note to the Issuer, the Issuer shall record the information contained therein in the Register and issue one or more new Registered Notes, the aggregate Outstanding Principal Balance of which is the same as the entire Outstanding Principal Balance of the surrendered Registered Note, to the Transferee pursuant to Section 15. The provisions of this Section 14(e) are intended to cause the Note to be in "registered form" as defined in Treasury Regulations Sections 5f.103-1(c) and 1.871-14(c) and proposed Treasury Regulations Section 1.163-5(b) (and any successor sections) and shall be interpreted and applied consistently 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;Without in any way limiting the transfer restrictions set forth elsewhere in this Section 14, the Holder further agrees not to make any disposition of all or any portion of the Note unless and until the transferee has agreed in writing for the benefit of the Issuer to be bound by all of the terms of this Note and the Purchase Agreement.

SECTION 15.&nbsp;&nbsp;&nbsp;&nbsp;<u>REISSUANCE OF THE NOTE</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>Transfer Procedures.</u> If this Note is to be transferred as permitted under this Note, in whole or in part, the Holder shall surrender this Note to the Issuer, whereupon the Issuer will issue and deliver a new Note to the Transferee (in accordance with Section 15(d)), representing the Outstanding Principal Balance of this Note being transferred by the Holder and, if less than the entire Outstanding Principal Balance of this Note held by the Holder is being transferred, a new Note (in accordance with Section 15(d)) to the Holder, representing the portion of the Outstanding Principal Balance not being transferred (each, a "**Replacement Note**" and collectively, the "**Replacement Notes**"). The Holder and the Transferee, by acceptance of this Note, acknowledge and agree that, by reason of the provisions of Section 15(d), following conversion, redemption or repayment of any portion of this Note, the Outstanding Principal Balance represented by this Note may be less than the Outstanding Principal Balance stated on the face of this Note.

&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>Note Exchangeable for Different Denominations.</u> This Note is exchangeable, upon the surrender hereof by the Holder at the principal office of the Issuer, for one or more Replacement Notes representing in the aggregate the Outstanding Principal Balance of this Note in accordance with Section 15(d). Each such Replacement

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Note will represent such portion of such Outstanding Principal Balance as is designated by the Holder at the time of such surrender. The Original Principal Amount of this Note shall be allocated pro rata among such Replacement Notes based on the Outstanding Principal Balance of the surrendered Note.

&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>Lost, Stolen, Destroyed or Mutilated Note.</u> Upon receipt by the Issuer of evidence reasonably satisfactory to the Issuer of the loss, theft, destruction or mutilation of this Note and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Issuer in customary form and, in the case of mutilation, upon surrender and cancellation of this Note, the Issuer shall execute and deliver to the Holder a Replacement Note (in accordance with Section 15(d)), representing the Outstanding Principal Balance of the surrendered Note.

&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;<u>Issuance of Replacement Notes.</u> Whenever the Issuer is required to issue a Replacement Note pursuant to the terms of this Note, such Replacement Note (i) shall be of like tenor with this Note, (ii) shall represent, as indicated on the face of such Replacement Note, the remaining Outstanding Principal Balance (or, in the case of a Replacement Note being issued pursuant to Section 15(a) or Section 15(b), the Outstanding Principal Balance designated by the Holder which, when added to the aggregate Outstanding Principal Balance represented by the other Replacement Notes issued in connection with such issuance, does not exceed the remaining Outstanding Principal Balance under this Note immediately prior to such issuance of Replacement Notes), (iii) shall be deemed to have an Original Principal Amount calculated in accordance with Section 15(b), (iv) shall have an issuance date, as indicated on the face of such Replacement Note, which is the same as the Issuance Date of this Note, (v) shall be deemed to have accrued its proportional share of the interest under this Note from the immediately preceding Interest Payment Date, (vi) shall have the same rights and conditions as this Note and (vii) shall be timely prepared and issued by the Issuer, but in no event shall the Issuer issue such Replacement Note more than five (5) Business Days after surrender of this Note or the receipt of the evidence reasonably satisfactory to the Issuer pursuant to Section 15(c), as the case may be.

SECTION 16.&nbsp;&nbsp;&nbsp;&nbsp;<u>FAILURE OR INDULGENCE NOT WAIVER; REMEDIES</u>. The Holder shall not by any act or omission be deemed to waive any of its rights or remedies under this Note unless such waiver shall be in writing and signed by the Holder (or deemed effective pursuant to the election of the Requisite Holders as set forth in this Note), and then only to the extent specifically set forth therein. No right or remedy herein conferred upon or reserved to the Holder is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by Law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at Law, in equity, in tort or otherwise, including injunctive relief or specific performance. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

SECTION 17. &nbsp;&nbsp;&nbsp;&nbsp;<u>NOTICES AND PAYMENTS</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>Notices.</u> All notices, requests, demands, consents, instructions or other communications required or permitted hereunder shall be in writing and mailed or delivered to each party as follows: (i) if to the Holder, at the Holder's email address or mailing address set forth in the Register, or (ii) if to the Issuer, at the mailing address or

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electronic mail address set forth on the Issuer's signature page to the Purchase Agreement, or at such other mailing or electronic mail address as the Issuer shall have furnished to the Holders in writing from time to time, and a copy (which shall not constitute notice) shall be sent to Latham & Watkins LLP, 140 Scott Drive, Menlo Park, CA 94025, Attention: Tad J. Freese, email: [\*\*\*]. All such notices and communications will be deemed sufficient upon delivery, when delivered personally, one (1) Business Day after being deposited with an overnight courier service of recognized standing or upon delivery if sent via electronic mail.

&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>Payments</u>. Whenever any payment of cash is to be made by the Issuer to any Person pursuant to this Note, such payment shall be made in cash via wire transfer of immediately available funds. The Holder shall provide the Issuer with prior written notice setting out such request and the Holder's wire transfer instructions. Whenever any amount expressed to be due by the terms of this Note is due on any day which is not a Business Day, the same shall instead be due on the next succeeding day which is a Business Day and, in the case of any Interest Payment Date which is not the date on which this Note is paid in full, the extension of the due date thereof shall not be taken into account for purposes of determining the amount of interest due on such 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Issuer will make all withholdings and deductions required by Law and will timely remit the full amount deducted or withheld to the relevant Tax authority in accordance with applicable Law.

SECTION 18.&nbsp;&nbsp;&nbsp;&nbsp;<u>WAIVER OF NOTICE</u>. To the extent permitted by Law, unless otherwise provided herein, the Issuer hereby waives demand, notice, protest and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Note.

SECTION 19.&nbsp;&nbsp;&nbsp;&nbsp;<u>FURTHER ASSURANCES</u>. Each of the Holder and the Issuer shall take such further actions as are necessary to carry out the intent or the purposes of this Note (including executing and delivering further agreements, instruments and documents, including in connection with any Public Company Event or Change of Control Event) as the other party may reasonably request in order to consummate, complete and carry out the actions or transactions contemplated hereby and the intent of the parties hereunder.

SECTION 20.&nbsp;&nbsp;&nbsp;&nbsp;<u>GOVERNING LAW, JURISDICTION AND SEVERABILITY</u>. This Note shall be governed by, and shall be construed in accordance with, the laws of the State of New York without regard to the conflicts of law provisions of the State of New York or of any other state that would result in the application of the laws of a state other than the State of New York. The Issuer hereby submits to the exclusive jurisdiction of the state and federal courts sitting in New York County, New York for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. In the event that any provision of this Note is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of this Note.

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SECTION 21.&nbsp;&nbsp;&nbsp;&nbsp;<u>ASSIGNMENT BY ISSUER</u>. Except as permitted under this Note, including in connection with an Internal Reorganization Transaction, the rights, interests or obligations hereunder may not be assigned or delegated, by operation of law or otherwise, in whole or in part, by the Issuer without the prior written consent of the Requisite Holders.

SECTION 22.&nbsp;&nbsp;&nbsp;&nbsp;<u>INTERPRETATION</u>. This Note shall be deemed to be jointly drafted by the Issuer and the Holder and shall not be construed against any Person as the drafter hereof. In this Note, unless otherwise indicated or the context otherwise requires, all words and personal pronouns relating thereto shall be read and construed as the number and gender of the party or parties required and the verb shall be read and construed as agreeing with the required word and pronoun; the division of this Note into Sections, clauses and sub-clauses and the use of headings and captions is for convenience of reference only and shall not modify or affect the interpretation or construction of this Note or any of its provisions; the words "herein," "hereof," "hereunder," "hereinafter" and "hereto" and words of similar import refer to this Note as a whole and not to any particular Section, clause or sub-clause hereof; the words "include," "including," and derivations thereof shall be deemed to have the phrase "without limitation" attached thereto unless otherwise expressly stated; references to a specified Section, clause or sub-clause shall be construed as a reference to that specified Section, clause or sub-clause of this Note; and all references to "$" or "dollars" shall be deemed references to United States dollars.

[*Signature Page Follows*]

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IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed as of the Issuance Date set out above.

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| | |
|:---|:---|
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By: |  |
|  | &nbsp;&nbsp;Name: Andrea Ellis |
|  | &nbsp;&nbsp;Title: Chief Financial Officer |
|  | &nbsp;&nbsp;Address: |
|  | &nbsp;&nbsp;85 2nd Street, First Floor |
|  | &nbsp;&nbsp;San Francisco, CA 94105 |
|  | &nbsp;&nbsp;Email: [\*\*\*] |

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| | |
|:---|:---|
| ACCEPTED AND AGREED: | ACCEPTED AND AGREED: |
| **[NAME OF HOLDER]** | **[NAME OF HOLDER]** |
| By: |  |
|  | &nbsp;&nbsp;Name: |
|  | &nbsp;&nbsp;Title: |
| Address: | Address: |
| Email Address: | Email Address: |

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**NEUTRON HOLDINGS, INC.**

**AMENDMENT TO**

**NOTE PURCHASE AGREEMENT**

This AMENDMENT TO NOTE PURCHASE AGREEMENT (this "**Amendment**") is made and entered into as of November 15, 2021 (the "**Effective Date**") by and among Neutron Holdings, Inc., a Delaware corporation (the "**Company**") and the undersigned investors party hereto (the "**Investors**").

**RECITALS**

WHEREAS, the Company and certain of the Investors are parties to that certain Note Purchase Agreement, dated as of October 29, 2021 (the "**Purchase Agreement**"), by and among the Company, Wilmington Savings Fund Society, FSB, in its capacity as collateral agent and those persons and entities listed on the <u>Schedule of Purchasers</u> attached thereto (the "**2021 Note Investors**"), pursuant to which the Company sold and issued to certain of the Investors certain secured convertible promissory notes (the "**Convertible Notes**");

WHEREAS, the Company has proposed to sell additional Convertible Notes to certain investors, and in order to sell such new Convertible Notes, the Company desires to amend the Purchase Agreement to provide for a subsequent closing;

WHEREAS, Section 10.9 of the Purchase Agreement provides that any provision of the Purchase Agreement may be amended, waived or modified only upon the written consent of the Company and (i) each of Uber, a majority-in-interest of the Highbridge Holders and a majority-in-interest of the Fidelity Holders (and their respective affiliates), for so long as Uber, the Fidelity Holders and the Highbridge Holders (and their respective affiliates) continue to hold, in the aggregate, 75% of the Notes held by Uber, the Fidelity Holders and the Highbridge Holders as of the date hereof; or (ii), if Uber, the Fidelity Holders and the Highbridge Holders (and their respective affiliates) are unable to unanimously approve the action in question or if Uber, the Fidelity Holders and the Highbridge Holders (and their respective affiliates) hold, in the aggregate, less than 75% of the Convertible Notes held by Uber, the Fidelity Holders and the Highbridge Holders as of the date hereof, the one or more 2021 Note Investors holding a majority of the aggregate principal amount of outstanding Convertible Notes (the "**PA Requisite Holders**");

WHEREAS, pursuant to that certain Side Letter, by and between the Company and Abu Dhabi Growth Fund RSD Ltd., the Company shall not effect any amendment to the Purchase Agreement without obtaining the written consent of one or more 2021 Note Investors holding a majority of the aggregate principal amount of outstanding Convertible Notes (including any actions that would otherwise be permitted or required with the consent of the PA Requisite Holders pursuant to the Purchase Agreement) (the "**SL Requisite Holders**" and, collectively with the PA Requisite Holders, the "**Requisite Holders**");

WHEREAS, the undersigned Investors constitute the Requisite Holders; and

WHEREAS, capitalized terms not otherwise defined herein shall have the meaning set forth in the Purchase Agreement.

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**AGREEMENT**

NOW THEREFORE, in consideration of the foregoing, and the representations, warranties, and conditions set forth below, the parties hereto, intending to be legally bound, hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.***Amendments.***

&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)Effective as of the Effective Date, the following text is inserted into the Purchase Agreement immediately following Section 3.1 as a new Section 3.2 (with subsequent sections re-numbered accordingly):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Second Closing</u>. After the Initial Closing, the Company may sell, on the same terms and conditions as those contained in this Agreement, up to $5 million worth of additional Notes to one or more Purchasers (the "<u>Additional</u> <u>Purchasers</u>"), provided that such subsequent sale(s) is consummated within thirty days after the Initial Closing (each, a "<u>Subsequent Closing</u>"). Any Additional Purchaser shall become a party to, and shall be entitled to receive Notes in accordance with this Agreement upon delivery of the appropriate executed signature pages and Consideration. Promptly after each Subsequent Closing, the Schedule of Purchasers will be appropriately 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;(b)Effective as of the Effective Date, the following text is inserted into the Purchase Agreement immediately following the "Schedule of Purchasers":

Second Closing: November 18, 2021

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| | |
|:---|:---|
| Purchaser | Principal Balance <br>of Promissory <br>Note |
| Diameter Master Fund LP | [\*\*\*] |
| Diameter Disclocation Fund LP | [\*\*\*] |

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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)Effective as of the Effective Date, Section 1 of the Purchase Agreement is hereby amended by adding the following term in alphabetical order:

"<u>Additional Purchaser</u>" has the meaning set forth in Section 3.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Effective as of the Effective Date, the definition of Holders in Section 1 of the Purchase Agreement is hereby amended and restated as follows:

"<u>Holders</u>" means (i) each of the Purchasers set forth on the Schedule of Purchasers and any Additional Purchaser who purchases Notes pursuant to Section 3.2 below, in each case for so long as such Purchasers or Additional Purchasers continue to hold Notes and (ii) each other holder of Notes that may become a party from time

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to time hereto pursuant to an assignment in accordance with Section 10.1 and their respective successors and assigns and "<u>Holder</u>" means any one of them.

&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)Effective as of the Effective Date, the definition of Notes in Section 1 of the Purchase Agreement is hereby amended and restated as follows:

"<u>Notes</u>" means the one or more Convertible Secured Promissory Notes due 2026 issued by the Company to the Purchasers pursuant to Section 2.1 below or to any Additional Purchasers pursuant to Section 3.2, the form of which is attached hereto as <u>Exhibit A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.***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)*Amendment*. Except as amended hereby, the Purchase Agreement remains unmodified and in full force and effect. This Amendment may not be amended, waived, discharged or terminated other than by a written instrument referencing this Amendment and signed by the Company and the Requisite Holders; provided, however, that any such amendment, modification or waiver may not adversely affect the rights or obligation of any Investor in a manner differently than other Investors without the express written consent of such adversely affected Investor.

&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)*Governing Law; Submission to Jurisdiction; Etc*. The provisions of Section 10.2 of the Purchase Agreement shall apply to this Amendment, *mutatis mutandis* as of set forth 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;(c)*Entire Agreement*. This Amendment and the Purchase Agreement (to the extent hereby amended), including the exhibits attached thereto, constitute the full and entire understanding and agreement between the parties for the subjects hereof and thereof. No party shall be liable or bound to any other party in any manner for the subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth herein or therein.

&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)*Severability*. If any provision of this Amendment becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Amendment, and such court will replace such illegal, void or unenforceable provision of this Amendment with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this Amendment 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;(e)*Counterparts*. This Amendment may be executed in one (1) or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same agreement. Facsimile or PDF electronic copies of signed signature pages will be deemed binding originals.

(*Signature Page Follows*)

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IN WITNESS WHEREOF, the parties have caused this Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **COMPANY**: | **COMPANY**: |
| **NEUTRON HOLDINGS, INC**. | **NEUTRON HOLDINGS, INC**. |
| a Delaware corporation | a Delaware corporation |
| By: | /s/ Wayne Ting |
| Name: Wayne Ting | Name: Wayne Ting |
| Title: Chief Executive Officer | Title: Chief Executive Officer |

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*Neutron Holdings, Inc. –Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR**: | **INVESTOR**: |
| **ABU DHABI GROWTH FUND RSC LTD** | **ABU DHABI GROWTH FUND RSC LTD** |
| By: | /s/ Khalifa Alsuwaidi |
| Name: Khalifa Alsuwaidi | Name: Khalifa Alsuwaidi |
| Title: Director | Title: Director |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR**: | **INVESTOR**: |
| **FIDELITY SECURITIES FUND**: | **FIDELITY SECURITIES FUND**: |
| **FIDELITY BLUE CHIP GROWTH FUND** | **FIDELITY BLUE CHIP GROWTH FUND** |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH**<br>**COMMINGLED POOL** | **FIDELITY BLUE CHIP GROWTH**<br>**COMMINGLED POOL** |
| By: | Fidelity Management Trust Company,<br>as Trustee |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** | **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** | **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH**<br>**INSTITUTIONAL TRUST** | **FIDELITY BLUE CHIP GROWTH**<br>**INSTITUTIONAL TRUST** |
| By: | Its manager Fidelity Investments Canada ULC |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIAM TARGET DATE BLUE CHIP GROWTH**<br>**COMMINGLED POOL** | **FIAM TARGET DATE BLUE CHIP GROWTH**<br>**COMMINGLED POOL** |
| By: | Fidelity Institutional Asset Management Trust<br>Company as Trustee |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **VARIABLE INSURANCE PRODUCTS FUND**<br>**III: GROWTH OPPORTUNITIES**<br>**PORTFOLIO** | **VARIABLE INSURANCE PRODUCTS FUND**<br>**III: GROWTH OPPORTUNITIES**<br>**PORTFOLIO** |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY**<br>**ADVISOR GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY**<br>**ADVISOR GROWTH OPPORTUNITIES FUND** |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY**<br>**ADVISOR SERIES GROWTH**<br>**OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY**<br>**ADVISOR SERIES GROWTH**<br>**OPPORTUNITIES FUND** |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST:**<br>**FIDELITY SERIES GROWTH COMPANY**<br>**FUND** | **FIDELITY MT. VERNON STREET TRUST:**<br>**FIDELITY SERIES GROWTH COMPANY**<br>**FUND** |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST:**<br>**FIDELITY GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST:**<br>**FIDELITY GROWTH COMPANY FUND** |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY GROWTH COMPANY**<br>**COMMINGLED POOL** | **FIDELITY GROWTH COMPANY**<br>**COMMINGLED POOL** |
| By: Fidelity Management Trust Company, as Trustee | By: Fidelity Management Trust Company, as Trustee |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST:**<br>**FIDELITY GROWTH COMPANY K6 FUND** | **FIDELITY MT. VERNON STREET TRUST:**<br>**FIDELITY GROWTH COMPANY K6 FUND** |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST** | **FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY NORTHSTAR FUND – SUB D** | **FIDELITY NORTHSTAR FUND – SUB D** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

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*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY CANADIAN GROWTH COMPANY<br>FUND** | **FIDELITY CANADIAN GROWTH COMPANY<br>FUND** |
| By: | Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

---

*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY SPECIAL SITUATIONS FUND** | **FIDELITY SPECIAL SITUATIONS FUND** |
| By: | Its manager Fidelity Investments Canada ULC |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

---

*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY GLOBAL INNOVATORS**<br>**INVESTMENT TRUST** | **FIDELITY GLOBAL INNOVATORS**<br>**INVESTMENT TRUST** |
| By: | Its manager Fidelity Investments Canada ULC |
| By: | /s/ Elizabeth Thornton |
| Name: Elizabeth Thornton | Name: Elizabeth Thornton |
| Title: Corporate Governance Analyst | Title: Corporate Governance Analyst |

---

*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

---

| | |
|:---|:---|
| **INVESTOR**: | **INVESTOR**: |
| **UBER TECHNOLOGIES, INC**. | **UBER TECHNOLOGIES, INC**. |
| By: | /s/ Nelson Chai |
| Name: Nelson Chai | Name: Nelson Chai |
| Title: Chief Financial Officer | Title: Chief Financial Officer |

---

*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

---

| | |
|:---|:---|
| **INVESTOR**: | **INVESTOR**: |
| **HIGHBRIDGE TACTICAL CREDIT MASTER**<br>**FUND, L.P.** | **HIGHBRIDGE TACTICAL CREDIT MASTER**<br>**FUND, L.P.** |
| By: | Highbridge Capital Management, LLC, as |
| Trading Manager | Trading Manager |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| Title: Managing Director | Title: Managing Director |

---

*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

------

IN WITNESS WHEREOF, the parties have caused this Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

---

| | |
|:---|:---|
| **INVESTOR**: | **INVESTOR**: |
| **HIGHBRIDGE SPAC OPPORTUNITY FUND, L.P.** | **HIGHBRIDGE SPAC OPPORTUNITY FUND, L.P.** |
| By: | Highbridge Capital Management, LLC, as |
| Trading Manager | Trading Manager |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| Title: Managing Director | Title: Managing Director |

---

*Neutron Holdings, Inc. – Amendment to Note Purchase Agreement*

------

**NEUTRON HOLDINGS, INC.**

**SECOND AMENDMENT TO**

**NOTE PURCHASE AGREEMENT**

This SECOND AMENDMENT TO NOTE PURCHASE AGREEMENT (this "**Amendment**") is made and entered into as of January 26, 2022 (the "**Effective Date**") by and among Neutron Holdings, Inc., a Delaware corporation (the "**Company**") and the undersigned investors party hereto (the "**Investors**").

**RECITALS**

WHEREAS, the Company and certain of the Investors are parties to that certain Note Purchase Agreement, dated as of October 29, 2021 (as amended by that certain Amendment to Note Purchase Agreement, dated as of November 2021, the "**Purchase Agreement**"), by and among the Company, Wilmington Savings Fund Society, FSB, in its capacity as collateral agent and those persons and entities listed on the <u>Schedule of Purchasers</u> attached thereto (the "**2021 Note Investors**"), pursuant to which the Company sold and issued to certain of the Investors certain secured convertible promissory notes (the "**Convertible Notes**");

WHEREAS, the Purchase Agreement provides that any provision of the Purchase Agreement may be amended, waived or modified only upon the written consent of the Company and the Requisite Holders;

WHEREAS, the undersigned Investors constitute the Requisite Holders;

WHEREAS, the Company has proposed to amend certain provisions of the Purchase Agreement and the Requisite Holders agree to so amend the Purchase Agreement, subject to the terms and conditions contained herein; and

WHEREAS, capitalized terms not otherwise defined herein shall have the meaning set forth in the Purchase Agreement.

**AGREEMENT**

NOW THEREFORE, in consideration of the foregoing, and the representations, warranties, and conditions set forth below, the parties hereto, intending to be legally bound, hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.***Amendments.***

&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)Effective as of the Effective Date, Section 6.1(c)(i) of the Purchase Agreement is hereby amended by deleting the terms "ninety (90) days" and replacing such terms with the terms "one hundred twenty (120) 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;(b)Effective as of the Effective Date, Section 6.1(c)(ii) of the Purchase Agreement is hereby amended by deleting the terms "ninety (90) days" and replacing such terms with the terms "one hundred twenty (120) days".

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.***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)*Amendment*. Except as amended hereby, the Purchase Agreement remains unmodified and in full force and effect. This Amendment may not be amended, waived, discharged or terminated other than by a written instrument referencing this Amendment and signed by the Company and the Requisite Holders; provided, however, that any such amendment, modification or waiver may not adversely affect the rights or obligation of any Investor in a manner differently than other Investors without the express written consent of such adversely affected Investor.

&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)*Governing Law; Submission to Jurisdiction; Etc*. The provisions of Section 10.2 of the Purchase Agreement shall apply to this Amendment, *mutatis mutandis* as of set forth 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;(c)*Entire Agreement*. This Amendment and the Purchase Agreement (to the extent hereby amended), including the exhibits attached thereto, constitute the full and entire understanding and agreement between the parties for the subjects hereof and thereof. No party shall be liable or bound to any other party in any manner for the subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth herein or therein.

&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)*Severability*. If any provision of this Amendment becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Amendment, and such court will replace such illegal, void or unenforceable provision of this Amendment with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this Amendment 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;(e)*Counterparts*. This Amendment may be executed in one (1) or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same agreement. Facsimile or PDF electronic copies of signed signature pages will be deemed binding originals.

(*Signature Page Follows*)

------

IN WITNESS WHEREOF, the parties have caused this Second Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

---

| | |
|:---|:---|
| **COMPANY**: | **COMPANY**: |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| a Delaware corporation | a Delaware corporation |
| By: | /s/ Ann Gugino |
| Name: Ann Gugino | Name: Ann Gugino |
| Title: Chief Financial Officer | Title: Chief Financial Officer |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

------

IN WITNESS WHEREOF, the parties have caused this Second Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

---

| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **ABU DHABI GROWTH FUND RSC LTD** | **ABU DHABI GROWTH FUND RSC LTD** |
| By: | /s/ Khalifa Alsuwaidi |
| Name: Khalifa Alsuwaidi | Name: Khalifa Alsuwaidi |
| Title: Director | Title: Director |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

------

IN WITNESS WHEREOF, the parties have caused this Second Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR**: | **INVESTOR**: |
| **FIDELITY SECURITIES FUND:** | **FIDELITY SECURITIES FUND:** |
| **FIDELITY BLUE CHIP GROWTH FUND** | **FIDELITY BLUE CHIP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH<br>COMMINGLED POOL** | **FIDELITY BLUE CHIP GROWTH<br>COMMINGLED POOL** |
| By: | Fidelity Management Trust Company, |
|  | as Trustee |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

------

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** | **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

------

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** | **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH<br>INSTITUTIONAL TRUST** | **FIDELITY BLUE CHIP GROWTH<br>INSTITUTIONAL TRUST** |
| By: | Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIAM TARGET DATE BLUE CHIP GROWTH<br>COMMINGLED POOL** | **FIAM TARGET DATE BLUE CHIP GROWTH<br>COMMINGLED POOL** |
| By: | Fidelity Institutional Asset Management Trust |
| Company as Trustee | Company as Trustee |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **VARIABLE INSURANCE PRODUCTS FUND III: GROWTH OPPORTUNITIES<br>PORTFOLIO** | **VARIABLE INSURANCE PRODUCTS FUND III: GROWTH OPPORTUNITIES<br>PORTFOLIO** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

------

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| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY**<br>**ADVISOR GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY**<br>**ADVISOR GROWTH OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY<br>ADVISOR SERIES GROWTH<br>OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY<br>ADVISOR SERIES GROWTH<br>OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST:<br>FIDELITY SERIES GROWTH COMPANY<br>FUND** | **FIDELITY MT. VERNON STREET TRUST:<br>FIDELITY SERIES GROWTH COMPANY<br>FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

------

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST:<br>FIDELITY GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST:<br>FIDELITY GROWTH COMPANY FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY GROWTH COMPANY**<br>**COMMINGLED POOL** | **FIDELITY GROWTH COMPANY**<br>**COMMINGLED POOL** |
| By: | Fidelity Management Trust Company, as Trustee |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST:**<br>**FIDELITY GROWTH COMPANY K6 FUND** | **FIDELITY MT. VERNON STREET TRUST:**<br>**FIDELITY GROWTH COMPANY K6 FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY U.S. GROWTH OPPORTUNITIES<br>INVESTMENT TRUST** | **FIDELITY U.S. GROWTH OPPORTUNITIES<br>INVESTMENT TRUST** |
| By: | Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY NORTHSTAR FUND – SUB D** | **FIDELITY NORTHSTAR FUND – SUB D** |
| By: | Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY CANADIAN GROWTH COMPANY<br>FUND** | **FIDELITY CANADIAN GROWTH COMPANY<br>FUND** |
| By: | Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SPECIAL SITUATIONS FUND** | **FIDELITY SPECIAL SITUATIONS FUND** |
| By: | Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY GLOBAL INNOVATORS INVESTMENT TRUST** | **FIDELITY GLOBAL INNOVATORS INVESTMENT TRUST** |
| By: | Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

------

IN WITNESS WHEREOF, the parties have caused this Second Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Odette Rodrigues |
| Name: Odette Rodrigues | Name: Odette Rodrigues |
| Title: Director, Corporate Development & Capital Markets | Title: Director, Corporate Development & Capital Markets |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

------

IN WITNESS WHEREOF, the parties have caused this Second Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **HIGHBRIDGE TACTICAL CREDIT MASTER<br>FUND, L.P.** | **HIGHBRIDGE TACTICAL CREDIT MASTER<br>FUND, L.P.** |
| By: | &nbsp;&nbsp;&nbsp;&nbsp;Highbridge Capital Management, as Trading |
| Manager and not in its individual capacity | Manager and not in its individual capacity |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| Title: Managing Director | Title: Managing Director |
| **HIGHBRIDGE SPAC OPPORTUNITY FUND,<br>L.P.** | **HIGHBRIDGE SPAC OPPORTUNITY FUND,<br>L.P.** |
| By: | &nbsp;&nbsp;&nbsp;&nbsp;Highbridge Capital Management, as Trading |
| Manager and not in its individual capacity | Manager and not in its individual capacity |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| Title: Managing Director | Title: Managing Director |

---

*Neutron Holdings, Inc. – Second Amendment to Note Purchase Agreement*

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**NEUTRON HOLDINGS, INC.**

**THIRD AMENDMENT TO**

**NOTE PURCHASE AGREEMENT**

This THIRD AMENDMENT TO NOTE PURCHASE AGREEMENT (this "**Amendment**") is made and entered into as of June 29, 2022 by and among Neutron Holdings, Inc., a Delaware corporation (the "**Company**") and the undersigned investors party hereto (the "**Investors**").

**RECITALS**

WHEREAS, the Company and certain of the Investors are parties to that certain Note Purchase Agreement, dated as of October 29, 2021 (as amended by that certain Amendment to Note Purchase Agreement, dated as of November 15, 2021, and as further amended by that certain Second Amendment to Note Purchase Agreement, dated as of January 26, 2022, the "Purchase Agreement"), by and among the Company, Wilmington Savings Fund Society, FSB, in its capacity as collateral agent and those persons and entities listed on the <u>Schedule of</u> <u>Purchasers</u> attached thereto (the "2021 Note Investors"), pursuant to which the Company sold and issued to certain of the Investors certain secured convertible promissory notes (the "Convertible Notes");

WHEREAS, the Purchase Agreement provides that any provision of the Purchase Agreement may be amended, waived or modified only upon the written consent of the Company and the Requisite Holders;

WHEREAS, the undersigned Investors constitute the Requisite Holders;

WHEREAS, the Company has proposed to amend certain provisions of the Purchase Agreement and the Requisite Holders agree to so amend the Purchase Agreement, subject to the terms and conditions contained herein; and

WHEREAS, capitalized terms not otherwise defined herein shall have the meaning set forth in the Purchase Agreement.

**AGREEMENT**

NOW THEREFORE, in consideration of the foregoing, and the representations, warranties, and conditions set forth below, the parties hereto, intending to be legally bound, hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;***Amendments.***

Section 6.1(d)(ii) of the Purchase Agreement is hereby amended by deleting the term "(or, for the Fiscal Year ending December 31, 2021, one-hundred and eighty (180) days)" and replacing such term with the following term in full: "(or, for the Fiscal Year ending December 31, 2021, no later than July 31, 2022)"; <u>provided</u> that, if and only if the Company has completed all post-closing obligations in accordance with Section 6.1(c) of the Purchase Agreement on or before July 31,

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2022, Section 6.1(d)(ii) of the Purchase Agreement shall be further amended by deleting the term "(or, for the Fiscal Year ending December 31, 2021, no later than July 31, 2022)" and replacing such term with the following term in full: "(or, for the Fiscal Year ending December 31, 2021, no later than December 31, 2022)".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&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;*Amendment*. Except as amended hereby, the Purchase Agreement remains unmodified and in full force and effect. This Amendment may not be amended, waived, discharged or terminated other than by a written instrument referencing this Amendment and signed by the Company and the Requisite Holders; provided, however, that any such amendment, modification or waiver may not adversely affect the rights or obligation of any Investor in a manner differently than other Investors without the express written consent of such adversely affected Investor.

&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;*Governing Law; Submission to Jurisdiction; Etc*. The provisions of Section 10.2 of the Purchase Agreement shall apply to this Amendment, mutatis mutandis as of set forth 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Entire Agreement*. This Amendment and the Purchase Agreement (to the extent hereby amended), including the exhibits attached thereto, constitute the full and entire understanding and agreement between the parties for the subjects hereof and thereof. No party shall be liable or bound to any other party in any manner for the subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth herein or therein.

&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;*Severability*. If any provision of this Amendment becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Amendment, and such court will replace such illegal, void or unenforceable provision of this Amendment with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this Amendment 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Counterparts*. This Amendment may be executed in one (1) or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same agreement. Counterparts may be delivered via facsimile, electronic mail (including any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

&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;*Conditions Precedent to Effectiveness*. This Amendment shall not be effective until each of the following condition precedent have been waived or fulfilled to the satisfaction of the undersigned Investors (such date referred to herein as, the "Effective Date"): the Company has paid all accrued and invoiced fees and expenses of Paul, Weiss, Rifkind, Wharton & Garrison LLP, Baker & McKenzie International and Arthur Cox LLP, as counsel, Dutch and German counsel and Irish counsel, respectively, to certain Investors.

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(*Signature Page Follows*)

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IN WITNESS WHEREOF, the parties have caused this Third Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| a Delaware corporation | a Delaware corporation |
| By: | /s/ Andrea Ellis |
| Name: Andrea Ellis | Name: Andrea Ellis |
| Title: Chief Financial Officer | Title: Chief Financial Officer |

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*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Second Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **ABU DHABI GROWTH FUND RSC LTD** | **ABU DHABI GROWTH FUND RSC LTD** |
| By: | /s/ Khalifa Alsuwaidi |
| Name: Khalifa Alsuwaidi | Name: Khalifa Alsuwaidi |
| Title: Director | Title: Director |

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*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SPECIAL SITUATIONS FUND** | **FIDELITY SPECIAL SITUATIONS FUND** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY GLOBAL INNOVATORS**<br>**INVESTMENT TRUST** | **FIDELITY GLOBAL INNOVATORS**<br>**INVESTMENT TRUST** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY CANADIAN GROWTH COMPANY FUND** | **FIDELITY CANADIAN GROWTH COMPANY FUND** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY NORTHSTAR FUND - SUB D** | **FIDELITY NORTHSTAR FUND - SUB D** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST** | **FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMP NY K6 FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMP NY K6 FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY GROWTH COMPANY COMMINGLED POOL** | **FIDELITY GROWTH COMPANY COMMINGLED POOL** |
| By: Fidelity Management Trust Company, as Trustee | By: Fidelity Management Trust Company, as Trustee |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMP ANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMP ANY FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **VARIABLE INSURANCE PRODUCTS FUND III: GROWTH OPPORTUNITIES PORTFOLIO** | **VARIABLE INSURANCE PRODUCTS FUND III: GROWTH OPPORTUNITIES PORTFOLIO** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIAM TARGET DATE BLUE CHIP <br>GROWTH COMMINGLED POOL** | **FIAM TARGET DATE BLUE CHIP <br>GROWTH COMMINGLED POOL** |
| By: | Fidelity Institutional Asset Management Trust Company, as Trustee |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH INSTITUTIONAL TRUST** | **FIDELITY BLUE CHIP GROWTH INSTITUTIONAL TRUST** |
| By: | Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** | **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** | **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH COMMINGLED POOL** | **FIDELITY BLUE CHIP GROWTH COMMINGLED POOL** |
| By: | Fidelity Management Trust Company, as Trustee |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

IN WITNESS WHEREOF, the parties have caused this Second Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

---

| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **FIDELITY SECURITIES FUND: <br>FIDELITY BLUE CHIP GROWTH FUND** | **FIDELITY SECURITIES FUND: <br>FIDELITY BLUE CHIP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY SPECIAL SITUATIONS FUND** | **FIDELITY SPECIAL SITUATIONS FUND** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

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| | |
|:---|:---|
| **FIDELITY GLOBAL INNOVATORS INVESTMENT TRUST** | **FIDELITY GLOBAL INNOVATORS INVESTMENT TRUST** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY CANADIAN GROWTH COMPANY FUND** | **FIDELITY CANADIAN GROWTH COMPANY FUND** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

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| | |
|:---|:---|
| **FIDELITY NORTHSTAR FUND - SUB D** | **FIDELITY NORTHSTAR FUND - SUB D** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST** | **FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMP NY K6 FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMP NY K6 FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY GROWTH COMPANY COMMINGLED POOL** | **FIDELITY GROWTH COMPANY COMMINGLED POOL** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMP ANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMP ANY FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR SERIES GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR SERIES GROWTH OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

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| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY <br>ADVISOR GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY <br>ADVISOR GROWTH OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **VARIABLE INSURANCE PRODUCTS <br>FUND III: GROWTH OPPORTUNITIES PORTFOLIO** | **VARIABLE INSURANCE PRODUCTS <br>FUND III: GROWTH OPPORTUNITIES PORTFOLIO** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIAM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** | **FIAM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** |
| By: | Fidelity Institutional Asset Management Trust Company as Trustee |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH INSTITUTIONAL TRUST** | **FIDELITY BLUE CHIP GROWTH INSTITUTIONAL TRUST** |
| By: | Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** | **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** | **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH COMMINGLED POOL** | **FIDELITY BLUE CHIP GROWTH COMMINGLED POOL** |
| By: | Fidelity Management Trust Company, as Trustee |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

IN WITNESS WHEREOF, the parties have caused this Second Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **FIDELITY SECURITIES FUND: <br>FIDELITY BLUE CHIP GRO TH FUND** | **FIDELITY SECURITIES FUND: <br>FIDELITY BLUE CHIP GRO TH FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

IN WITNESS WHEREOF, the parties have caused this Second Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Nelson Chai |
| Name: Nelson Chai | Name: Nelson Chai |
| Title: Chief Financial Officer | Title: Chief Financial Officer |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

------

IN WITNESS WHEREOF, the parties have caused this Third Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **HIGHBRIDGE TACTICAL CREDIT MASTER FUND, L.P.** | **HIGHBRIDGE TACTICAL CREDIT MASTER FUND, L.P.** |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| Title: Managing Director, Co-CIO | Title: Managing Director, Co-CIO |
| **HIGHBRIDGE SPAC OPPORTUNITY FUND, L.P.** | **HIGHBRIDGE SPAC OPPORTUNITY FUND, L.P.** |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| Title: Managing Director, Co-CIO | Title: Managing Director, Co-CIO |

---

*Neutron Holdings, Inc. – Third Amendment to Note Purchase Agreement*

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**NEUTRON HOLDINGS, INC.**

**FOURTH AMENDMENT TO**

**NOTE PURCHASE AGREEMENT**

This FOURTH AMENDMENT TO NOTE PURCHASE AGREEMENT (this "**Amendment**") is made and entered into as of March 23, 2023 by and among Neutron Holdings, Inc., a Delaware corporation (the "**Company**") and the undersigned investors party hereto (the "**Investors**").

**RECITALS**

WHEREAS, the Company and certain of the Investors are parties to that certain Note Purchase Agreement, dated as of October 29, 2021 (as amended by that certain Amendment to Note Purchase Agreement, dated as of November 15, 2021, as further amended by that certain Second Amendment to Note Purchase Agreement, dated as of January 26, 2022, and as further amended by that certain Third Amendment to the Note Purchase Agreement, dated as of June 29, 2022, the "**Purchase Agreement**"), by and among the Company, Wilmington Savings Fund Society, FSB, in its capacity as collateral agent and those persons and entities listed on the <u>Schedule of Purchasers</u> attached thereto (the "**2021 Note Investors**"), pursuant to which the Company sold and issued to certain of the Investors certain secured convertible promissory notes (the "**Convertible Notes**");

WHEREAS, the Purchase Agreement provides that any provision of the Purchase Agreement may be amended, waived or modified only upon the written consent of the Company and the Requisite Holders;

WHEREAS, the undersigned Investors constitute the Requisite Holders;

WHEREAS, the Company has proposed to amend certain provisions of the Purchase Agreement and the Requisite Holders agree to so amend the Purchase Agreement, subject to the terms and conditions contained herein; and

WHEREAS, capitalized terms not otherwise defined herein shall have the meaning set forth in the Purchase Agreement.

**AGREEMENT**

NOW THEREFORE, in consideration of the foregoing, and the representations, warranties, and conditions set forth below, the parties hereto, intending to be legally bound, hereby agree as follows:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;***Amendments.***

Section 6.1(d)(ii) of the Purchase Agreement is hereby amended and restated in its entirety to:

"<u>Annual Financial Statements</u>. As soon as practicable and in any event within ninety days (90) days after the end of each Fiscal Year (or (i) for the Fiscal Year ending December 31, 2021, no later than December 31, 2022, and (ii) for the Fiscal Year ending December 31, 2022, no later than September 30, 2023), a copy of the audited financial statements of Company and each of its Subsidiaries as at the end of such Fiscal Year prepared on a consolidated basis, including balance sheet and related statements of income, shareholders' equity and cash flows and setting forth in comparative form the corresponding figures for the preceding Fiscal Year, and accompanied by the report of a firm of independent certified public accountants, which report shall contain an unqualified opinion, stating that such consolidated financial statements present fairly in all material respects the financial position for the periods indicated in conformity with GAAP applied on a basis consistent with prior years and not include any explanatory paragraph expressing doubt as to going concern status."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&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;*Amendment*. Except as amended hereby, the Purchase Agreement remains unmodified and in full force and effect. This Amendment may not be amended, waived, discharged or terminated other than by a written instrument referencing this Amendment and signed by the Company and the Requisite Holders; provided, however, that any such amendment, modification or waiver may not adversely affect the rights or obligation of any Investor in a manner differently than other Investors without the express written consent of such adversely affected Investor.

&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;*Governing Law; Submission to Jurisdiction; Etc*. The provisions of Section 10.2 of the Purchase Agreement shall apply to this Amendment, *mutatis mutandis* as of set forth 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Entire Agreement*. This Amendment and the Purchase Agreement (to the extent hereby amended), including the exhibits attached thereto, constitute the full and entire understanding and agreement between the parties for the subjects hereof and thereof. No party shall be liable or bound to any other party in any manner for the subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth herein or therein.

&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;*Severability*. If any provision of this Amendment becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Amendment, and such court will replace such illegal, void or unenforceable provision of this Amendment with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this Amendment shall be enforceable in accordance with its terms.

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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;*Counterparts*. This Amendment may be executed in one (1) or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same agreement. Counterparts may be delivered via facsimile, electronic mail (including any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

(*Signature Page Follows*)

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IN WITNESS WHEREOF, the parties have caused this Fourth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| a Delaware corporation | a Delaware corporation |
| By: | /s/ Wayne Ting |
| Name: Wayne Ting | Name: Wayne Ting |
| Title: Chief Executive Officer | Title: Chief Executive Officer |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the patties have caused this Fourth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **SAPPHIRE DIRECT HOLDINGS RSC LTD** | **SAPPHIRE DIRECT HOLDINGS RSC LTD** |
| By: | /s/ Khalifa Alsuwaidi |
| Name: Khalifa Alsuwaidi  | Name: Khalifa Alsuwaidi  |
| Title: Director | Title: Director |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Fourth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **FIDELITY SECURITIES FUND: <br>FIDELITY BLUE CHIP GROWTH FUND** | **FIDELITY SECURITIES FUND: <br>FIDELITY BLUE CHIP GROWTH FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH COMMINGLED POOL** | **FIDELITY BLUE CHIP GROWTH COMMINGLED POOL** |
| By: | Fidelity Management Trust Company,<br>as Trustee |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** | **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** | **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH INSTITUTIONAL TRUST** | **FIDELITY BLUE CHIP GROWTH INSTITUTIONAL TRUST** |
| By: | Its manager Fidelity Investments Canada ULC |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIAM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** | **FIAM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** |
| By: | Fidelity Institutional Asset Management<br>Trust Company as Trustee |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **VARIABLE INSURANCE PRODUCTS<br>FUND III: GROWTH OPPORTUNITIES PORTFOLIO** | **VARIABLE INSURANCE PRODUCTS<br>FUND III: GROWTH OPPORTUNITIES PORTFOLIO** |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR SERIES GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR SERIES GROWTH OPPORTUNITIES FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMPANY FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY GROWTH COMPANY COMMINGLED POOL** | **FIDELITY GROWTH COMPANY COMMINGLED POOL** |
| By: | Fidelity Management Trust Company, as Trustee |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY K6 FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY K6 FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST** | **FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY NORTHSTAR FUND – SUB D** | **FIDELITY NORTHSTAR FUND – SUB D** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY CANADIAN GROWTH COMPANY FUND** | **FIDELITY CANADIAN GROWTH COMPANY FUND** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SPECIAL SITUATIONS FUND** | **FIDELITY SPECIAL SITUATIONS FUND** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY GLOBAL INNOVATORS INVESTMENT TRUST** | **FIDELITY GLOBAL INNOVATORS INVESTMENT TRUST** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ James Wegmann |
| Name: James Wegmann  | Name: James Wegmann  |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Fourth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Sarah-Marie Martin |
| Name: Sarah-Marie Martin | Name: Sarah-Marie Martin |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: VP, Corporate Development &<br>Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: VP, Corporate Development &<br>Capital Markets |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Fourth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **HIGHBRIDGE TACTICAL CREDIT MASTER FUND, L.P.** | **HIGHBRIDGE TACTICAL CREDIT MASTER FUND, L.P.** |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| Title: Managing Director  | Title: Managing Director  |
| **HIGHBRIDGE SPAC OPPORTUNITY<br>FUND, L.P.** | **HIGHBRIDGE SPAC OPPORTUNITY<br>FUND, L.P.** |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| Title: Managing Director  | Title: Managing Director  |

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*Neutron Holdings, Inc. – Fourth Amendment to Note Purchase Agreement*

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**NEUTRON HOLDINGS, INC.**

**OMNIBUS FIRST AMENDMENT TO**

**CONVERTIBLE NOTES**

**and**

**FIFTH AMENDMENT AND CONSENT TO**

**NOTE PURCHASE AGREEMENT**

This OMNIBUS FIRST AMENDMENT TO CONVERTIBLE NOTES AND FIFTH

AMENDMENT AND CONSENT TO NOTE PURCHASE AGREEMENT (this "**Amendment and Consent**") is made and entered into as of October 5, 2023 by and among Neutron Holdings, Inc., a Delaware corporation (the "**Company**") and the undersigned investors party hereto (the "**Investors**").

**RECITALS**

WHEREAS, the Company and the Investors are parties to that certain Note Purchase Agreement, dated as of October 29, 2021 (as amended by that certain Amendment to Note Purchase Agreement, dated as of November 15, 2021, as further amended by that certain Second Amendment to Note Purchase Agreement, dated as of January 26, 2022, as further amended by that certain Third Amendment to Note Purchase Agreement, dated as of June 29, 2022, and as further amended by that certain Fourth Amendment to Note Purchase Agreement, dated as of March 23, 2023, the "**Purchase Agreement**"), by and among the Company, Wilmington Savings Fund Society, FSB, in its capacity as collateral agent and those persons and entities listed on the <u>Schedule of Purchasers</u> attached thereto (the "**2021 Note Investors**"), pursuant to which the Company sold and issued to the Investors certain secured convertible promissory notes (each a "**Convertible Note**" and together, the "**Convertible Notes**");

WHEREAS, the Purchase Agreement provides that any provision of the Purchase Agreement and the Convertible Notes may be amended, waived or modified only upon the written consent of the Company and the Requisite Holders;

WHEREAS, the undersigned Investors constitute the Requisite Holders;

WHEREAS, the Company desires to enter into that certain Credit Agreement, dated as of the date hereof (as amended, amended and restated, modified or supplemented from time to time, the "**Senior Credit Agreement**"), with the Persons party thereto as lender (together with any other Person that shall have become a party to such agreement as a lender, collectively, the "**Senior Lender**"), Alter Domus (US) LLC, in its capacity as initial administrative agent for the Senior Lenders (together with its successors and assigns, the "**Senior Administrative Agent**"), Diameter Finance Administration LLC, in its capacity as collateral agent for the Senior Lenders (together with its successors and assigns, the "**Senior Collateral Agent**" and collectively with the Senior Administrative Agent, the "**Senior Agent**"). The Senior Agent, together with the Senior Lender and the other secured parties under the Senior Credit Agreement are hereinafter referred to as the "**Senior Parties**".

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WHEREAS, Section 6.2(a) of the Note Purchase Agreement restricts the incurrence of Indebtedness by the Company, other than Indebtedness permitted by Section 6.2(a) of the Note Purchase Agreement or Permitted Indebtedness and Section 6.2(b) of the Note Purchase Agreement restricts the incurrence of any Liens on any Assets, except for Permitted Liens.

WHEREAS, the Company has requested that the Requisite Holders consents to (x) the Company's execution of the Senior Credit Agreement, and (y) the incurrence of the Indebtedness and Liens on assets and property of the Company and its Subsidiaries in favor of the Senior Agent for the benefit of the Senior Parties to secure the obligations under the Senior Credit Agreement and the Loan Documents (as defined in the Senior Credit Agreement).

WHEREAS, the Company has further proposed to amend certain provisions of the Purchase Agreement and the Convertible Notes and the Requisite Holders agree to so amend the Purchase Agreement and the Convertible Notes, subject to the terms and conditions contained herein; and

WHEREAS, capitalized terms not otherwise defined herein shall have the meaning set forth in the Purchase Agreement or the Convertible Notes, as the case may be.

**AGREEMENT**

NOW THEREFORE, in consideration of the foregoing, and the representations, warranties, and conditions set forth below, the parties hereto, intending to be legally bound, hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;***Omnibus Amendment to Convertible Notes.***

Section 1 of each and every Convertible Note is hereby amended by deleting the term:

**"Maturity Date"** means October 29, 2025.

and replacing such term with the following term in full:

**"Maturity Date"** means October 29, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;***Consent under Purchase Agreement.***

Subject to the satisfaction of the conditions precedent set forth in Section 5 hereof, as of the Effective Date (as defined below), notwithstanding anything to the contrary on the Note Purchase Agreement or any other Loan Documents, the Requisite Holders hereby consent to the incurrence by the Company of (x) Indebtedness under the Senior Credit Agreement, as may be amended in accordance with the Intercreditor Agreement and (y) Liens granted to the Senior Agent for the benefit of the Senior Parties to secure the obligations under Senior Credit Agreement and the Loan Documents (as defined in the Senior Credit Agreement), in each case, subject to the Intercreditor Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;***Amendments to Purchase Agreement Related to Incurrence of Indebtedness Evidenced By Senior Credit 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Amended Definitions</u>: Section 1 of the Purchase Agreement is hereby amended by deleting the definitions of "Senior Agent", "Senior Credit Agreement", "Senior Indebtedness", "Senior Intercreditor Agreement" and inserting the following definitions in alphabetical order:

"<u>Senior Administrative Agent</u>" means Alter Domus (US) LLC and any of its successors or assigns, in its capacity as administrative agent for the Senior Parties under the Senior Credit Agreement.

"<u>Senior Agent</u>" means collectively, the Senior Administrative Agent and Senior Collateral Agent.

"<u>Senior Collateral Agent</u>" means Diameter Finance Administration LLC and any of its successors or assigns, in its capacity as collateral agent for the Senior Parties under the Senior Credit Agreement.

"<u>Senior Credit Agreement</u>" means the Credit Agreement, dated as of October 5, 2023 (as may be amended, restated, supplemented or otherwise modified from time to time) between the Company as borrower, the Senior Lender from time to time party thereto and the Senior Agent or, to the extent the Senior Indebtedness is refinanced, any other credit agreement or similar agreement evidencing the refinanced Senior Indebtedness.

"<u>Senior Indebtedness</u>" means the indebtedness and other obligations of the Company under the Senior Credit Agreement and the other Loan Documents (as defined in the Senior Credit Agreement) and any refinancing(s) thereof.

"<u>Senior Intercreditor Agreement</u>" means the Subordination and Intercreditor Agreement, dated as of October 5, 2023, by and among the Collateral Agent, the Requisite Holders, the Senior Agent and the Company, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof.

"<u>Senior Lender</u>" means the Persons from time to time party to the Senior Credit Agreement as lenders or, to the extent the Senior Indebtedness is refinanced, the lender for such refinanced Senior Indebtedness.

"<u>Senior Parties</u>" means, collectively, the Senior Agent, the Senior Lender and the other secured parties under the Senior Credit Agreement and the other Loan Documents (as defined in the Senior Credit Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;***Amendments to Purchase Agreement Related to Covenants.***

&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>Amended Definitions</u>: Section 1 of the Purchase Agreement is hereby amended by replacing in full the definitions of "Cash Settlement Conditions", "Equity Cash

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Payment Conditions", "Indebtedness", "Permitted Acquisition", "Permitted Convertible Debt", "Permitted Indebtedness", "Permitted Investment", "Permitted Liens", "Permitted Transfer" and "Subordinated Indebtedness" with the following:

"<u>Cash Settlement Conditions</u>" means, with respect to the settlement of any conversion (or redemption) of any Permitted Convertible Debt, satisfaction of each of the following events at the time of delivery of the conversion consideration: (a) both immediately before and after giving effect thereto, no Default or Event of Default shall exist or result therefrom, (b) the Company's Qualified Cash (as defined in the Senior Credit Agreement) shall be no less than 150% of the outstanding Senior Obligations.

"<u>Equity Cash Payment Conditions</u>" means, with respect to a given Equity Cash Payment Transaction, in each case measured immediately before and immediately after giving effect to any cash payments to be made in connection with such Equity Cash Payment Transaction: (a) no Default or Event of Default shall have occurred and be continuing, (b) the Company shall have Qualified Cash (as defined in the Senior Credit Agreement) in an amount greater than or equal to 200% of the then-outstanding Senior Obligations.

"<u>Indebtedness</u>" means indebtedness of any kind, including (a) all indebtedness for borrowed money or the deferred purchase price of property or services (excluding trade credit entered into in the ordinary course of business), including reimbursement and other obligations with respect to surety bonds, letters of credit, banker's acceptances, bank guarantees, performance bonds and similar instruments, (b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all capital lease obligations, as determined under GAAP, and (d) all Contingent Obligations. For the avoidance of doubt no Permitted Warrant Transaction shall be considered Indebtedness.

"<u>Permitted Acquisition</u>" means any Acquisition which is conducted in accordance with the following 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) of a business or Person or product engaged in a line of business that is similar, ancillary, complementary, incidental or related thereto, or an extension, development or expansion of the Business of Company or its 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if such Acquisition is structured as a stock acquisition, then the Person (as long as such Person is organized under the laws of the United States of America, any State thereof, the District of Columbia, or any other jurisdiction within the United States of America) so acquired shall either (i) satisfy the requirements of Section 6.1(a) hereof and be jointly and severally liable for all Obligations or (ii) such Person shall be merged with and into Company (with Company being the surviving entity);

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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;(iii) if such Acquisition is structured as the acquisition of assets, such assets shall be acquired by the Company or any of its Subsidiaries, and shall be free and clear of Liens 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Company shall have delivered to Holders not less than fifteen (15) days prior to the date of such Acquisition, notice of such 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;&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) both immediately before and after such Acquisition, no Event of Default shall have occurred and be 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) prior to or substantially concurrently with the consummation of any such Acquisition, delivery of a copy of the definitive agreement relating to such 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;&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) such Acquisition is consensual (non-"hostile") and, if applicable, shall have been approved by the board of directors (or other similar body) and/or the stockholders or other equityholders of the target, if applicable; 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;(viii) the aggregate consideration paid in connection with all Acquisitions consummated in any Test Period (as defined in the Senior Credit Agreement) shall not exceed $150,000,000, *plus* the amount of any Permitted Indebtedness described in clauses (v), (xi) or (xii) of the definition thereof incurred by the Notes Parties plus the amount of proceeds from the issuance of equity interests by the Company, so long as (x) on the date the definitive agreement for any Acquisition is entered into, after giving pro forma effect to such Acquisition, the Company shall be in compliance with all covenants set forth in Sections 7.21 of the Senior Credit Agreement, (y) any such Indebtedness shall be Subordinated Indebtedness and (z) any such Indebtedness shall not have cash payments of principal or any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier than, ninety-one (91) days after the Maturity Date; <u>provided</u>, that this clause (z) shall no longer apply as of the first date an Initial Public Offering has occurred.

"<u>Permitted Convertible Debt</u>" means (i) the Notes and the convertible secured promissory notes issued by the Company on May 7, 2020 and (ii) Indebtedness of the Company that is convertible into a fixed number (subject to customary anti-dilution adjustments, "make-whole" increases and other customary changes thereto) of shares of common stock of the Company (or other securities or property following a merger event or other change of the common stock of the Company), cash or any combination thereof (with the amount of such cash or such combination determined by reference to the market price of such common stock or such other securities); <u>provided</u>, <u>that</u> such Indebtedness shall (i) not require cash settlement of conversions or other cash payments of principal or any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier than, ninety-one (91) days after the Maturity Date, (ii) [reserved], (iii) not be guaranteed by any Subsidiary of the Company that has not provided a Guarantee of the Notes and, if secured, shall (a) not be secured by any

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Liens on assets or property not constituting Collateral and (b) be Subordinated Indebtedness, (iv) be on terms and conditions customary for Indebtedness of such type); <u>provided</u> <u>further</u> that a certificate of the Company as to the satisfaction of the conditions described in clause (iv) delivered to each Holder at least ten (10) Business Days prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of documentation relating thereto, stating that the Company has determined in good faith that such terms and conditions satisfy the foregoing requirements of clause (iv), shall be conclusive, unless Holders (constituting Requisite Holders) notify the Company within such ten (10) Business Day period that such Holders (constituting Requisite Holders) disagree, in each Holder's commercially reasonable judgment, with such determination.

"<u>Permitted Indebtedness</u>" 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Indebtedness under the Notes, including any Indebtedness resulting from payment-in-kind interest paid in respect of the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) (x) Indebtedness of the Company or other Loan Parties (as defined in the Senior Credit Agreement) in favor of the Senior Parties arising under the Senior Credit Agreement or any other Loan Document (as defined in the Senior Credit Agreement); <u>provided</u> that the aggregate principal amount of such refinancing Indebtedness shall not exceed the Senior Debt Cap (as defined in the Senior Intercreditor Agreement) and (y) any Indebtedness under the Senior Credit Agreement or any other Loan Document (as defined in the Senior Credit Agreement) resulting from payment-in-kind interest paid in respect of the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Indebtedness existing on the closing date of the Senior Credit Agreement which is disclosed in <u>Schedule 1A</u> to the Senior Credit 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Indebtedness to trade creditors incurred 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Subordinated Indebtedness in an aggregate principal amount not to exceed, together with the Permitted Convertible Debt incurred pursuant to clause (xii) below (and including the aggregate principal amount outstanding of the Notes), $1,500,000,000 at any one time outstanding; <u>provided</u>, <u>that</u> such Subordinated Indebtedness shall not require cash payments of principal or any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier than, ninety-one (91) days after the Maturity Date; <u>provided</u>, <u>further</u>, that if the Company requests that the Holders execute a subordination agreement with respect to such Subordinated Indebtedness, the Holders shall execute a subordination agreement reasonably acceptable to the Holders, it being agreement that any such subordination agreement substantially in the form of the Intercreditor Agreement or the Junior Investor Subordination Agreement shall be deemed reasonably acceptable to the Holders.

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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;(vi) reimbursement obligations in connection with letters of credit that are secured by cash and issued on behalf of the Company or a Subsidiary for real estate purposes in the ordinary course of business in an amount not to exceed $21,000,000 at any time outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) any Indebtedness incurred to finance the acquisition of any new vehicle fleet in an aggregate principal amount not to exceed $32,000,000 at any one time outstanding; <u>provided</u>, that such amount may be increased from time to time so long as the Company has provided notice to the Holders indicating the amount of the increase, the purposes of its use and the Requisite Holders consent to such increase;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) intercompany Indebtedness by a Notes Party to or in any other Notes 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) Indebtedness incurred to finance insurance premiums 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) unsecured Indebtedness in an aggregate principal amount not to exceed $3,000,000 at any one time outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) Permitted Convertible Debt in an aggregate principal amount not to exceed the sum of (i) the aggregate principal amount outstanding of the Notes as of the closing date of the Senior Credit Agreement *plus* the aggregate principal amount (or such lower amount as necessary to comply with the shared limitation on Subordinated Indebtedness set forth in clause (v) above) outstanding of the convertible secured promissory notes issued by the Company on May 7, 2020 as of the closing date of the Senior Credit Agreement, *plus* (ii) uncapped additional principal amounts, so long as (A) no Event of Default has occurred and is continuing, (B) (x) any such Indebtedness is Subordinated Indebtedness and (y) any such Indebtedness shall not have cash payments of principal or any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier than, ninety-one (91) days after the Maturity Date; <u>provided</u>, that this clause (B) shall no longer be effective as of the first date an Initial Public Offering 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) extensions, refinancings and renewals of any Permitted Indebtedness described in clause (iii) above, <u>provided</u> that the principal amount is not increased or the terms modified to impose materially more burdensome terms (including with respect to maturity date and amortization schedule, if any) upon the Company or the applicable Subsidiary, as the case may be, and subject to any limitations on aggregate amount of Indebtedness of such type, to the extent described in one of the foregoing clauses of this defined term;

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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;(xiv) intercompany Indebtedness that is either (i) unsecured and permitted pursuant to clause (viii) of the definition of Permitted Investments or (ii) Subordinated Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) guarantees of the Company in respect of Indebtedness of the Company to the extent permitted under Section 6.2(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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) Indebtedness arising from a bank or other financial institution honoring a check, draft or similar instrument (other than resulting from any overdraft) 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii) Indebtedness incurred in respect of Cash Management Services, in each case, incurred 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xviii) Indebtedness arising under performance, payment, surety, customs, stay, bid or appeal bonds, performance and completion guaranties and similar instruments, in each case in the ordinary course of business and not in connection with any Indebtedness for borrowed money; <u>provided</u> that the aggregate amount of any such Indebtedness shall not exceed $10,000,000 at any time outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xix) Indebtedness consisting of Contingent Obligations in connection with any equity exchange program involving the issuance of equity awards under the Company's equity incentive plans; <u>provided</u> that any cash payments made in connection with such Indebtedness shall only be made pursuant to an Equity Cash Payment Transaction that satisfies the Equity Cash Payment Conditions pursuant to Section 6.2(e); 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;(xx) reimbursement obligations in connection with surety bonds, letters of credit, banker's acceptances, bank guarantees, performance bonds and similar instruments that are secured by cash and issued on behalf of the Company or a Subsidiary for any other purposes in the ordinary course of business in an amount not to exceed $15,000,000 at any time outstanding.

"<u>Permitted Investment</u>" 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Investments existing on the closing date of the Senior Credit Agreement which are disclosed in Schedule 1B to the Senior Credit 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) (i) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof maturing within one year from the date of acquisition thereof currently having a rating of at least A-2 or P-2 from either Standard & Poor's Corporation or Moody's Investors Services, (ii) commercial paper maturing no more than one year from the date of creation thereof and currently having a rating of at least A-2 or P-2 from either Standard & Poor's Corporation or Moody's Investors Services, (iii) certificates of deposit issued by any bank with assets of at least $500,000,000 maturing no more than one year from the date of investment therein, (iv) money market accounts, and (v)

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Investments permitted by the Company's investment policy in effect on the Closing Date, as may be amended from time to time, <u>provided</u> that the Agent has approved such investment policy in writing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Repurchases by Company of its equity interests issued to departing managers, advisory members, officers, employees, consultants, directors or other service providers of Company, or departing officers, employees, consultants or other consultants of any Notes Party who are acting in such capacity on behalf of Company of equity interests of the Company, <u>provided</u> that the aggregate amount of such repurchases per Fiscal Year shall not exceed $3,000,000 per Fiscal Year and no default known to Company or Event of Default shall have occurred or be 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Investments accepted in connection with Permitted Transfers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Investments received in connection with the bankruptcy or reorganization of a customer or supplier 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions in the ordinary course of business to third party suppliers or customers in an aggregate amount outstanding not to exceed $15,000,000 at any 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) loans and advances to, or guarantees of Indebtedness of, employees, directors, officers, managers, consultants or independent contractors in the ordinary course of business in an aggregate amount not to exceed $1,500,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Investments to or in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) a Notes Party from another Notes 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;&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) any Subsidiary of the Company that is not a Notes Party from any other Subsidiary of the Company that is not a Notes 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) any Notes Party in any Subsidiary of the Company that is not a Notes Party that consists of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) dispositions of vehicles in the ordinary course of business and consistent with past practices, on terms which are commercially reasonable,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Investments pursuant to cost-plus or transfer pricing agreements for payroll and operating expenses, in the ordinary course of business and consistent with past practices,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Investments in (i) operational Subsidiaries to satisfy applicable local law requirements and (ii) non-operational Subsidiaries to

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satisfy applicable local law requirements for the dissolution or liquidation of such Subsidiaries in an aggregate amount not to exceed $7,000,000 for any Fiscal 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) other Investments not to exceed $1,000,000 in any Fiscal Year, 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Investments in connection with cash management, pooling or similar arrangements or in connection with the acquisition of equipment, contracts or other assets used or useful in the ordinary course of business and consistent with past practices;

<u>provided</u> that all Permitted Investments made pursuant to this sub clause (viii)(y) shall be for a *bona fide* business purpose and not in connection with any liability management or similar transaction, and shall not consist of intellectual property; 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;(z) any Subsidiary in any Notes 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) Investments in deposit accounts, subject to compliance with Section 7.12 in the Senior Credit 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) The Company's entry into (including payments of premiums in connection therewith), and the performance of obligations under, any Permitted Bond Hedge Transactions and Permitted Warrant Transactions in accordance with their 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) Investments consisting of the leasing, licensing, sublicensing or contribution of Intellectual Property, in each case, on a nonexclusive basis and in the ordinary course of business or pursuant to non-exclusive joint marketing arrangements with other 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) Investments consisting of purchases or acquisitions of inventory, supplies, materials and equipment in the ordinary course of business or Permitted Acquisitions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) Investments constituting the repurchase of de minimis shares in any Subsidiary; provided that the aggregate amount of such repurchases shall not exceed $100,000 and no default or Event of Default shall have occurred or be 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) Investments in connection with the cash management operations of Company and its Subsidiaries that constitute Permitted Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) Licenses described in clause (i) of the definition of "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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) guarantees of operating leases or of other obligations permitted under this Agreement that do not constitute Indebtedness, in each case, entered into by the Company 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii) Investments constituting the cashless repurchase of common stock of Company deemed to occur upon the exercise of options, warrants or similar rights solely to the extent that shares of such stock represent a portion of the exercise price of such options, warrants or similar 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xviii) Investments consisting of Contingent Obligations to the extent permitted in clause (xix) of the defined term "Permitted Indebtedness"; 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;(xix) additional Investments that do not exceed $3,00,000 in the aggregate.

"<u>Permitted Liens</u>" means, as at any time, any one or more 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Liens in favor of the Senior Agent or Senior Lender securing Indebtedness under the Senior Credit Agreement or any other Loan Document (as defined in the Senior Credit 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Liens in respect of the Notes in favor of the 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Liens existing on the Closing Date which are disclosed in Schedule 1C

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Liens in favor of materialmen, bailees, artisans, mechanics, carriers warehouseman, landlords and other Persons securing ordinary course obligations which are not yet delinquent and not in connection with borrowed money;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Liens for Taxes, fees, assessments or other governmental charges or levies, either (i) not delinquent or (ii) being contested in good faith by appropriate proceedings, <u>provided</u> that the Company (or another appropriate Person) maintains adequate reserves therefor in accordance with GAAP;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Liens arising from judgments, decrees or attachments (or appeal or other surety bonds related to such judgments) in circumstances which do not 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the following deposits, to the extent made in the ordinary course of business: deposits under worker's compensation, unemployment insurance, social security and other similar laws, or to secure the performance of bids, tenders or contracts (other than for the repayment of borrowed money and including bailees and warehousemen) or to secure indemnity, performance or other similar bonds for the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure statutory obligations (other than Liens

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arising under ERISA or environmental Liens) or surety or appeal bonds, or to secure indemnity, performance or other similar bonds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) leasehold interests in leases or subleases and licenses granted in the ordinary course of business and not interfering in any material respect with the business of the licensor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Liens on equipment, software embedded in such equipment, and proceeds thereof, which (i) secure Indebtedness described in clause (vii) of the definition of Permitted Indebtedness or (ii) exist at the time such equipment is acquired 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;(x) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of custom duties that are promptly paid on or before the date they become due;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) Liens in connection with Indebtedness described in clause (ix) of the definition of Permitted Indebtedness, <u>provided</u> that such Lien is limited to insurance proceeds arising from the subject insurance policy and the unearned portion of premium payments, and <u>provided</u> that financed premium payments are paid when due;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) statutory and common law rights of set-off and other similar rights as to deposits of cash and securities in favor of banks, other depository institutions and brokerage firms or securities intermediaries solely to secure payment of amounts due in the ordinary course of business in connection with the maintenance of deposit accounts or securities accounts, each as defined in and under the Uniform Commercial Code of the applicable 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) easements, servitudes, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business so long as they do not materially impair the value or marketability of the related property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) licenses described in clause (i) of the definition of Permitted 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) (i) Liens on cash securing obligations permitted in accordance with clause (vi) and clause (xx) of the defined term "Permitted Indebtedness" in an aggregate amount not to exceed the reimbursement obligation secured, and (ii) security deposits in connection with real property leases 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) Liens incurred in connection with the extension, renewal or refinancing of the Indebtedness secured by Liens of the type described in clause (i) or (ii) above; <u>provided</u>, that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the Indebtedness being extended, renewed or refinanced (as may have been

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reduced by any payment thereon) does not increase, and subject to any limitation with respect to the amount secured by such Lien of such type, to the extent described in one of the foregoing clauses of this defined term; 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;(p) Liens securing Subordinated Indebtedness and Permitted Convertible Debt; provided that such Liens shall be at all times subject to intercreditor arrangements reasonably satisfactory to the Holders (constituting Requisite Holders).

"<u>Permitted Transfer</u>" 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) (x) non-exclusive licenses and similar arrangements for the use of Intellectual Property in the ordinary course of business, (y) licenses that could not result in a legal transfer of title of the licensed property that may be exclusive in respects other than territory or may be exclusive as to territory but only as to discreet geographical areas outside of the United States in the ordinary course of business and (z) other exclusive licenses in the ordinary course of business and which do not materially interfere with the business of the Borrower and its Subsidiaries; <u>provided</u>, that (A) any such license shall only be entered into with third parties on commercially reasonable terms and (B) any licenses with Subsidiaries shall be on an arms-length basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) dispositions of worn-out, used, decommissioned, obsolete or surplus Equipment (as defined in the Uniform Commercial Code) and for the avoidance of doubt, including any dispositions of vehicle fleet;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) use of cash in the ordinary course of business in a manner not prohibited by the terms 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;&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) transfers, sales or other dispositions among the Company and its 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) dispositions consisting of Permitted Investments (other than <u>clause (iv</u>) of such definition), Permitted Indebtedness and Permitted Liens (other than <u>clause (xiv</u>) of such definition);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) other dispositions of assets having a fair market value of not more than $1,500,000 in the aggregate in any Fiscal Year; 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;(vii) the abandonment, allowance to lapse or expiration of any intellectual property of de minimis or no value in the ordinary course of business and that does not materially interfere with the ordinary conduct of the business of the Company and its Subsidiaries (as determined by the Company in its reasonable business judgment).

"<u>Subordinated Indebtedness</u>" means Indebtedness subordinated to the obligations in respect of the Notes in amounts and subject to a subordination agreement on customary deep subordination terms; provided, <u>that</u> such

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Indebtedness shall (i) be subject to a subordination agreement in form and substance satisfactory to the Holders (constituting Requisite Holders) in its reasonable discretion on customary deep subordination terms, as may be amended, restated or otherwise modified from time to time; (ii) not require cash settlement of conversions or other cash payments of principal or any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier than, ninety-one (91) days after the Maturity Date, (iii) not be guaranteed by any Subsidiary of the Company that has not provided a Guarantee of the Notes and, if secured, shall (a) not be secured by any Liens on assets or property not constituting Collateral and (b) be subject to intercreditor arrangements reasonably satisfactory to the and (iv) be on terms and conditions customary for Indebtedness of such type; <u>provided</u> <u>further</u> that a certificate of the Company as to the satisfaction of the conditions described in clause (iv) delivered to each Holder at least ten (10) Business Days prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of documentation relating thereto, stating that the Company has determined in good faith that such terms and conditions satisfy the foregoing requirements of clause (iv), shall be conclusive unless Holders (constituting Requisite Holders) notify the Company within such ten (10) Business Day period that such Holders (constituting Requisite Holders) disagree, in each Holder's commercially reasonable judgment, with such determination.

&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>Amended Sections</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;(i)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.1(d)(i) of the Purchase Agreement is hereby amended by replacing in full (i) 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;(i) <u>Quarterly Financial Statements</u>. As soon as practicable and in any event within forty-five (45) days after the end of each Fiscal Quarter of each Fiscal Year, a copy of the unaudited consolidated balance sheets of Company and each of its Subsidiaries, and the related consolidated statements of income, shareholders' equity and cash flows as of the end of such Fiscal Quarter and (other than the shareholders' equity statement) for the portion of the Fiscal Year then ended, and (other than the shareholders' equity statement) for the period from the beginning of the then current Fiscal Year to the end of such Fiscal Quarter, setting forth in each case in comparative form the corresponding figures for the corresponding periods of the previous Fiscal Year all certified by an Authorized Officer of Company to the effect that they have been prepared in accordance with GAAP, (i) except for the absence of footnotes, (ii) subject to normal year-end adjustments, and (iii) except for certain non-cash items that are customarily included in quarterly and annual financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Section 6.1(d)(ii) of the Purchase Agreement is hereby amended by replacing in full (ii) 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;<u>Annual Financial Statements</u>. As soon as practicable and in any event within one hundred twenty (120) days after the end of each Fiscal Year, a copy of

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the audited financial statements of Company and each of its Subsidiaries as at the end of such Fiscal Year prepared on a consolidated basis, including balance sheet and related statements of income, shareholders' equity and cash flows and setting forth in comparative form the corresponding figures for the preceding Fiscal Year, and accompanied by the report of a firm of independent certified public accountants, which report shall contain an unqualified opinion, stating that such consolidated financial statements present fairly in all material respects the financial position for the periods indicated in conformity with GAAP applied on a basis consistent with prior years and not include a going concern qualification (except to the extent such qualification is solely as a result of the impending maturity of, or a financial covenant default under, the Senior Credit Agreement, or the impending maturity of the convertible secured promissory notes issued by the Company on May 7, 2020 or the Notes).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Section 6.1(e) of the Purchase Agreement is hereby amended by replacing in full (e) 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;(e) <u>Distribution</u>. The Company shall not, and shall not permit any Subsidiary to (a) repurchase or redeem any class of stock or other equity interest of the Company or any of its Subsidiaries, other than repurchases described in clauses (iii), (xiii), (xvii), and (xviii) of the definition of "Permitted Investments"; (b) declare or pay any cash dividend or make a cash distribution on any class of stock or other equity interest, except for (i) any dividends or other distributions by any Subsidiary of the Company to the Company or another Subsidiary of the Company, (ii) distributions of Net Cash Proceeds (as defined in the Senior Credit Agreement) to the extent permitted by the terms of the Senior Credit Agreement, (iii) any payments made by the Company upon the death, disability, retirement or termination of employment of any employee, officer, manager or director or pursuant to any employee or director equity plan, employee, manager or director stock option plan or any other employee or director benefit plan or any agreement (including any stock subscription or shareholder agreement) with any employee, officer, manager or director of the Company or any of its Subsidiaries in an amount not to exceed $1,500,000 per Fiscal Year or (iv) subject to satisfaction of the Equity Cash Payment Conditions, any other payments made by the Company to repurchase equity interests from any departing employees, officers, managers or directors or guarantees of the payment of any such loans granted by a third party in an amount not to exceed $1,500,000 in the aggregate so long as no default known to the Company or Event of Default has occurred or is continuing; (c) waive, release or forgive any Indebtedness owed by any departing employees, officers, managers or directors in excess of $750,000 in the aggregate so long as no default known to the Company or Event of Default has occurred or is continuing; or (d) (x) the entry into and payment of any premium with respect to any Permitted Bond Hedge Transaction and (y) the settlement of any Permitted Warrant Transaction by (i) netting or set-off against any Permitted Bond Hedge Transaction, (ii) delivery of shares of common stock

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of the Company or (iii) if the Cash Settlement Conditions are satisfied, payment in cash.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;***Effectiveness; Conditions Precedent***. The effectiveness of this Agreement shall be subject to the following conditions precedent (the date all of such conditions are satisfied, the "**Effective 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Company and the Investors of copies of this Agreement duly executed by the Company and the Requisite Holders; 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Investors of duly executed copies of the Senior Credit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;***Representations and Warranties***. The Company hereby represents and warrants to the Requisite Holders that as of the date hereof, after giving effect to this Amendment and Consent, no Default or Event of Default shall have occurred and be continuing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&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;*Amendment*. Except as amended hereby, the Purchase Agreement and the Convertible Notes remain unmodified and in full force and effect. This Amendment and Consent may not be amended, waived, discharged or terminated other than by a written instrument referencing this Amendment and Consent and signed by the Company and the Requisite Holders; provided, however, that any such amendment, modification or waiver may not adversely affect the rights or obligation of any Investor in a manner differently than other Investors without the express written consent of such adversely affected Investor.

&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;*Governing Law; Submission to Jurisdiction; Etc*. The provisions of Section 10.2 of the Purchase Agreement shall apply to this Amendment and Consent, *mutatis mutandis* as of set forth 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Entire Agreement*. This Amendment and Consent, the Purchase Agreement and the Convertible Notes (to the extent hereby amended), including the exhibits attached thereto, constitute the full and entire understanding and agreement between the parties for the subjects hereof and thereof. No party shall be liable or bound to any other party in any manner for the subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth herein or therein.

&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;*Severability*. If any provision of this Amendment and Consent becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Amendment and Consent, and such court will replace such illegal, void or unenforceable provision of this Amendment and Consent with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this Amendment and Consent shall be enforceable in accordance with its terms.

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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;*Counterparts*. This Amendment and Consent may be executed in one (1) or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same agreement. Counterparts may be delivered via facsimile, electronic mail (including any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

*(Signature Page Follows)*

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IN WITNESS WHEREOF, the parties have caused this Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| a Delaware corporation | a Delaware corporation |
| By: | /s/ Wayne Ting |
| Name: Wayne Ting | Name: Wayne Ting |
| Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer | Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **DIAMETER MASTER FUND LP** | **DIAMETER MASTER FUND LP** |
| **By: Diameter Capital Partners LP** | **By: Diameter Capital Partners LP** |
| **acting solely as its Investment Manager** | **acting solely as its Investment Manager** |
| By: | /s/ Shailini Rao |
| Name: Shailini Rao | Name: Shailini Rao |
| Title:&nbsp;&nbsp;&nbsp;&nbsp;Co-Chief Operating Officer | Title:&nbsp;&nbsp;&nbsp;&nbsp;Co-Chief Operating Officer |
| **DIAMETER DISLOCATION MASTER** | **DIAMETER DISLOCATION MASTER** |
| **FUND LP** | **FUND LP** |
| **By: Diameter Capital Partners LP** | **By: Diameter Capital Partners LP** |
| **acting solely as its Investment Manager** | **acting solely as its Investment Manager** |
| By: | /s/ Shailini Rao |
| Name: Shailini Rao | Name: Shailini Rao |
| Title:&nbsp;&nbsp;&nbsp;&nbsp;Co-Chief Operating Officer | Title:&nbsp;&nbsp;&nbsp;&nbsp;Co-Chief Operating Officer |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **SAPPHIRE DIRECT HOLDINGS RSC LTD** | **SAPPHIRE DIRECT HOLDINGS RSC LTD** |
| By: | /s/ Khalifa Alsuwaidi |
| Name: | Khalifa Alsuwaidi |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **FIDELITY SECURITIES FUND:** | **FIDELITY SECURITIES FUND:** |
| **FIDELITY BLUE CHIP GROWTH FUND** | **FIDELITY BLUE CHIP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH** | **FIDELITY BLUE CHIP GROWTH** |
| **COMMINGLED POOL** | **COMMINGLED POOL** |
| By: | Fidelity Management Trust Company, as Trustee |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY** | **FIDELITY SECURITIES FUND: FIDELITY** |
| **FLEX LARGE CAP GROWTH FUND** | **FLEX LARGE CAP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY** | **FIDELITY SECURITIES FUND: FIDELITY** |
| **BLUE CHIP GROWTH K6 FUND** | **BLUE CHIP GROWTH K6 FUND** |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH** | **FIDELITY BLUE CHIP GROWTH** |
| **INSTITUTIONAL TRUST** | **INSTITUTIONAL TRUST** |
| By: | Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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| | |
|:---|:---|
| **FIAM TARGET DATE BLUE CHIP** | **FIAM TARGET DATE BLUE CHIP** |
| **GROWTH COMMINGLED POOL** | **GROWTH COMMINGLED POOL** |
| By: | Fidelity Institutional Asset Management Trust Company as Trustee |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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| | |
|:---|:---|
| **VARIABLE INSURANCE PRODUCTS FUND** | **VARIABLE INSURANCE PRODUCTS FUND** |
| **III: GROWTH OPPORTUNITIES** | **III: GROWTH OPPORTUNITIES** |
| **PORTFOLIO** | **PORTFOLIO** |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY** | **FIDELITY ADVISOR SERIES I: FIDELITY** |
| **ADVISOR GROWTH OPPORTUNITIES** | **ADVISOR GROWTH OPPORTUNITIES** |
| **FUND** | **FUND** |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY** | **FIDELITY ADVISOR SERIES I: FIDELITY** |
| **ADVISOR SERIES GROWTH** | **ADVISOR SERIES GROWTH** |
| **OPPORTUNITIES FUND** | **OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST:** | **FIDELITY MT. VERNON STREET TRUST:** |
| **FIDELITY SERIES GROWTH COMPANY** | **FIDELITY SERIES GROWTH COMPANY** |
| **FUND** | **FUND** |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST:** | **FIDELITY MT. VERNON STREET TRUST:** |
| **FIDELITY GROWTH COMPANY FUND** | **FIDELITY GROWTH COMPANY FUND** |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY GROWTH COMPANY** | **FIDELITY GROWTH COMPANY** |
| **COMMINGLED POOL** | **COMMINGLED POOL** |
| &nbsp;&nbsp;&nbsp;&nbsp;By: Fidelity Management Trust Company, as <br>Trustee | &nbsp;&nbsp;&nbsp;&nbsp;By: Fidelity Management Trust Company, as <br>Trustee |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

---

*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST:** | **FIDELITY MT. VERNON STREET TRUST:** |
| **FIDELITY GROWTH COMPANY K6 FUND** | **FIDELITY GROWTH COMPANY K6 FUND** |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY U.S. GROWTH OPPORTUNITIES** | **FIDELITY U.S. GROWTH OPPORTUNITIES** |
| **INVESTMENT TRUST** | **INVESTMENT TRUST** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY NORTHSTAR FUND – SUB D** | **FIDELITY NORTHSTAR FUND – SUB D** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

---

*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY CANADIAN GROWTH COMPANY** | **FIDELITY CANADIAN GROWTH COMPANY** |
| **FUND** | **FUND** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SPECIAL SITUATIONS FUND** | **FIDELITY SPECIAL SITUATIONS FUND** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY GLOBAL INNOVATORS** | **FIDELITY GLOBAL INNOVATORS** |
| **INVESTMENT TRUST** | **INVESTMENT TRUST** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: | Chris Maher |
| Title: | Authorized Signatory |

---

*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Dara Khosrowshahi |
| Name: | Dara Khosrowshahi |
| Title: | Chief Executive Officer |

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*Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Purchase Agreement*

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**NEUTRON HOLDINGS, INC.**

**SIXTH AMENDMENT TO**

**NOTE PURCHASE AGREEMENT**

This SIXTH AMENDMENT TO NOTE PURCHASE AGREEMENT (this "**Amendment**") is made and entered into as of April 29, 2024 by and among Neutron Holdings, Inc., a Delaware corporation (the "**Company**") and the undersigned investors party hereto (the "**Investors**").

**RECITALS**

WHEREAS, the Company and certain of the Investors are parties to that certain Note Purchase Agreement, dated as of October 29, 2021 (as amended by that certain Amendment to Note Purchase Agreement, dated as of November 15, 2021, as further amended by that certain Second Amendment to Note Purchase Agreement, dated as of January 26, 2022, as further amended by that certain Third Amendment to Note Purchase Agreement, dated as of June 29, 2022, as further amended by that certain Fourth Amendment to Note Purchase Agreement, dated as of March 23, 2023, and as further amended by that certain Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Note Purchase Agreement, dated as of October 5, 2023, the "**Purchase Agreement**"), by and among the Company, Wilmington Savings Fund Society, FSB, in its capacity as collateral agent and those persons and entities listed on the <u>Schedule of Purchasers</u> attached thereto (the "**2021 Note Investors**"), pursuant to which the Company sold and issued to certain of the Investors certain secured convertible promissory notes (the "**Convertible Notes**");

WHEREAS, the Purchase Agreement provides that any provision of the Purchase Agreement may be amended, waived or modified only upon the written consent of the Company and the Requisite Holders;

WHEREAS, the undersigned Investors constitute the Requisite Holders;

WHEREAS, the Company has proposed to amend certain provisions of the Purchase Agreement and the Requisite Holders agree to so amend the Purchase Agreement, subject to the terms and conditions contained herein; and

WHEREAS, capitalized terms not otherwise defined herein shall have the meaning set forth in the Purchase Agreement.

**AGREEMENT**

NOW THEREFORE, in consideration of the foregoing, and the representations, warranties, and conditions set forth below, the parties hereto, intending to be legally bound, hereby agree as follows:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.***Amendments.***

Section 6.1(d)(ii) of the Purchase Agreement is hereby amended and restated in its entirety to:

"(ii) Annual Financial Statements. As soon as practicable and in any event within one hundred twenty (120) days after the end of each Fiscal Year (or for the Fiscal Year ending December 31, 2023, no later than May 15, 2024), a copy of the audited financial statements of Company and each of its Subsidiaries as at the end of such Fiscal Year prepared on a consolidated basis, including balance sheet and related statements of income, shareholders' equity and cash flows and setting forth in comparative form the corresponding figures for the preceding Fiscal Year, and accompanied by the report of a firm of independent certified public accountants, which report shall contain an unqualified opinion, stating that such consolidated financial statements present fairly in all material respects the financial position for the periods indicated in conformity with GAAP applied on a basis consistent with prior years and not include a going concern qualification (except to the extent such qualification is solely as a result of the impending maturity of, or a financial covenant default under, the Senior Credit Agreement, or the impending maturity of the convertible secured promissory notes issued by the Company on May 7, 2020 or the Notes)."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.***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)*Amendment*. Except as amended hereby, the Purchase Agreement remains unmodified and in full force and effect. This Amendment may not be amended, waived, discharged or terminated other than by a written instrument referencing this Amendment and signed by the Company and the Requisite Holders; provided, however, that any such amendment, modification or waiver may not adversely affect the rights or obligation of any Investor in a manner differently than other Investors without the express written consent of such adversely affected Investor.

&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)*Governing Law; Submission to Jurisdiction; Etc.* The provisions of Section 10.2 of the Purchase Agreement shall apply to this Amendment, *mutatis mutandis* as of set forth 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;(c)*Entire Agreement*. This Amendment and the Purchase Agreement (to the extent hereby amended), including the exhibits attached thereto, constitute the full and entire understanding and agreement between the parties for the subjects hereof and thereof. No party shall be liable or bound to any other party in any manner for the subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth herein or therein.

&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)*Severability*. If any provision of this Amendment becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Amendment, and such court will replace such illegal, void or unenforceable provision of this Amendment with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this Amendment shall be enforceable in accordance with its terms.

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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)*Counterparts*. This Amendment may be executed in one (1) or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same agreement. Counterparts may be delivered via facsimile, electronic mail (including any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

(*Signature Page Follows*)

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IN WITNESS WHEREOF, the parties have caused this Sixth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **COMPANY**: | **COMPANY**: |
| **NEUTRON HOLDINGS, INC**. | **NEUTRON HOLDINGS, INC**. |
| a Delaware corporation | a Delaware corporation |
| By: | /s/ Ann Gugino |
| Name: Ann Gugino | Name: Ann Gugino |
| Title: Chief Financial Officer | Title: Chief Financial Officer |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Sixth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **FIDELITY SECURITIES FUND:**<br>**FIDELITY BLUE CHIP GROWTH FUND** | **FIDELITY SECURITIES FUND:**<br>**FIDELITY BLUE CHIP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH**<br>**COMMINGLED POOL** | **FIDELITY BLUE CHIP GROWTH**<br>**COMMINGLED POOL** |
| By:Fidelity Management Trust Company, as Trustee | By:Fidelity Management Trust Company, as Trustee |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** | **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** | **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH**<br>**INSTITUTIONAL TRUST** | **FIDELITY BLUE CHIP GROWTH**<br>**INSTITUTIONAL TRUST** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIAM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** | **FIAM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** |
| By: Fidelity Institutional Asset Management Trust Company as Trustee | By: Fidelity Institutional Asset Management Trust Company as Trustee |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **VARIABLE INSURANCE PRODUCTS FUND** <br>**III: GROWTH OPPORTUNITIES** <br>**PORTFOLIO** | **VARIABLE INSURANCE PRODUCTS FUND** <br>**III: GROWTH OPPORTUNITIES** <br>**PORTFOLIO** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR SERIES GROWTH** <br>**OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR SERIES GROWTH** <br>**OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMPANY FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY GROWTH COMPANY** <br>**COMMINGLED POOL** | **FIDELITY GROWTH COMPANY** <br>**COMMINGLED POOL** |
| By: Fidelity Management Trust Company, as Trustee | By: Fidelity Management Trust Company, as Trustee |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY K6 FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY K6 FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST** | **FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY NORTHSTAR FUND – SUB D** | **FIDELITY NORTHSTAR FUND – SUB D** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY CANADIAN GROWTH COMPANY FUND** | **FIDELITY CANADIAN GROWTH COMPANY FUND** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SPECIAL SITUATIONS FUND** | **FIDELITY SPECIAL SITUATIONS FUND** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY GLOBAL INNOVATORS**<br>**INVESTMENT TRUST** | **FIDELITY GLOBAL INNOVATORS**<br>**INVESTMENT TRUST** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Sixth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **UBER TECHNOLOGIES, INC**. | **UBER TECHNOLOGIES, INC**. |
| By: | /s/ Terra Castaldi |
| Name: Terra Castaldi | Name: Terra Castaldi |
| Title: Associate General Counsel, Corporate Legal and Assistant Corporate Secretary | Title: Associate General Counsel, Corporate Legal and Assistant Corporate Secretary |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Sixth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **HIGHBRIDGE TACTICAL CREDIT MASTER FUND, L.P.** | **HIGHBRIDGE TACTICAL CREDIT MASTER FUND, L.P.** |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| Title: Managing Director | Title: Managing Director |
| **HIGHBRIDGE TACTICAL CREDIT**<br>**INSTITUTIONAL FUND, L.P.** | **HIGHBRIDGE TACTICAL CREDIT**<br>**INSTITUTIONAL FUND, L.P.** |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| Title: Managing Director | Title: Managing Director |
| **1992 MASTER FUND CO - INVEST SPC - SERIES 4 SEGREGATED PORTFOLIO** | **1992 MASTER FUND CO - INVEST SPC - SERIES 4 SEGREGATED PORTFOLIO** |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| Title: Managing Director | Title: Managing Director |

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*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Sixth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **SAPPHIRE DIRECT HOLDINGS RSC LTD** | **SAPPHIRE DIRECT HOLDINGS RSC LTD** |
| By: | /s/ Joseph Cha |
| Name: Joseph Cha | Name: Joseph Cha |
| Title: Director | Title: Director |

---

*Neutron Holdings, Inc. – Sixth Amendment to Note Purchase Agreement*

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**NEUTRON HOLDINGS, INC.**

**SEVENTH AMENDMENT TO<br>NOTE PURCHASE AGREEMENT**

This SEVENTH AMENDMENT TO NOTE PURCHASE AGREEMENT (this "**Amendment**") is made and entered into as of August 28, 2024 by and among Neutron Holdings, Inc., a Delaware corporation (the "**Company**") and the undersigned investors party hereto (the "**Investors**").

**RECITALS**

WHEREAS, the Company and certain of the Investors are parties to that certain Note Purchase Agreement, dated as of October 29, 2021 (as amended by that certain Amendment to Note Purchase Agreement, dated as of November 15, 2021, as further amended by that certain Second Amendment to Note Purchase Agreement, dated as of January 26, 2022, as further amended by that certain Third Amendment to Note Purchase Agreement, dated as of June 29, 2022, as further amended by that certain Fourth Amendment to Note Purchase Agreement, dated as of March 23, 2023, as further amended by that certain Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Note Purchase Agreement, dated as of October 5, 2023, and as further amended by that certain Sixth Amendment to Note Purchase Agreement, dated as of April 29, 2024, the "**Purchase Agreement**"), by and among the Company, Wilmington Savings Fund Society, FSB, in its capacity as collateral agent and those persons and entities listed on the <u>Schedule of Purchasers</u> attached thereto (the "**2021 Note Investors**"), pursuant to which the Company sold and issued to certain of the Investors certain secured convertible promissory notes (the "**Convertible Notes**");

WHEREAS, the Purchase Agreement provides that any provision of the Purchase Agreement may be amended, waived or modified only upon the written consent of the Company and the Requisite Holders;

WHEREAS, the undersigned Investors constitute the Requisite Holders;

WHEREAS, the Company has proposed to amend certain provisions of the Purchase Agreement and the Requisite Holders agree to so amend the Purchase Agreement, subject to the terms and conditions contained herein; and

WHEREAS, capitalized terms not otherwise defined herein shall have the meaning set forth in the Purchase Agreement.

**AGREEMENT**

NOW THEREFORE, in consideration of the foregoing, and the representations, warranties, and conditions set forth below, the parties hereto, intending to be legally bound, hereby agree as follows:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;***Amendments.***

Clause (xx) of the defined term "Permitted Indebtedness" in the Purchase Agreement is hereby amended by deleting the term "$15,000,000" and replacing such term with "$75,000,000".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&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;*Amendment*. Except as amended hereby, the Purchase Agreement remains unmodified and in full force and effect. This Amendment may not be amended, waived, discharged or terminated other than by a written instrument referencing this Amendment and signed by the Company and the Requisite Holders; provided, however, that any such amendment, modification or waiver may not adversely affect the rights or obligation of any Investor in a manner differently than other Investors without the express written consent of such adversely affected Investor.

&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;*Governing Law; Submission to Jurisdiction; Etc*. The provisions of Section 10.2 of the Purchase Agreement shall apply to this Amendment, *mutatis mutandis* as of set forth 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Entire Agreement*. This Amendment and the Purchase Agreement (to the extent hereby amended), including the exhibits attached thereto, constitute the full and entire understanding and agreement between the parties for the subjects hereof and thereof. No party shall be liable or bound to any other party in any manner for the subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth herein or therein.

&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;*Severability*. If any provision of this Amendment becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Amendment, and such court will replace such illegal, void or unenforceable provision of this Amendment with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this Amendment 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Counterparts*. This Amendment may be executed in one (1) or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same agreement. Counterparts may be delivered via facsimile, electronic mail (including any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

(*Signature Page Follows*)

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IN WITNESS WHEREOF, the parties have caused this Seventh Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| a Delaware corporation | a Delaware corporation |
| By: | /s/ Ann Gugino |
| Name: Ann Gugino | Name: Ann Gugino |
| Title: Chief Financial Officer | Title: Chief Financial Officer |

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*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Seventh Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **SAPPHIRE DIRECT HOLDINGS RSC LTD** | **SAPPHIRE DIRECT HOLDINGS RSC LTD** |
| By: | /s/ Joseph Cha |
| Name: Joseph Cha | Name: Joseph Cha |
| Title: Director | Title: Director |

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*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Seventh Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Madhu Kannan |
| Name: Madhu Kannan | Name: Madhu Kannan |
| Title: VP, Corporate Development | Title: VP, Corporate Development |

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*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Seventh Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **FIDELITY SECURITIES FUND:** | **FIDELITY SECURITIES FUND:** |
| **FIDELITY BLUE CHIP GROWTH FUND** | **FIDELITY BLUE CHIP GROWTH FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH** | **FIDELITY BLUE CHIP GROWTH** |
| **COMMINGLED POOL** | **COMMINGLED POOL** |
| By: Fidelity Management Trust Company, as Trustee | By: Fidelity Management Trust Company, as Trustee |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FMR CAPITAL, INC. - FLEX PILOT** | **FMR CAPITAL, INC. - FLEX PILOT** |
| **PORTFOLIO** | **PORTFOLIO** |
| **By: Fidelity Management & Research Company LLC, as investment advisor** | **By: Fidelity Management & Research Company LLC, as investment advisor** |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY** | **FIDELITY SECURITIES FUND: FIDELITY** |
| **BLUE CHIP GROWTH K6 FUND** | **BLUE CHIP GROWTH K6 FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH** | **FIDELITY BLUE CHIP GROWTH** |
| **INSTITUTIONAL TRUST** | **INSTITUTIONAL TRUST** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIAM TARGET DATE BLUE CHIP GROWTH** | **FIAM TARGET DATE BLUE CHIP GROWTH** |
| **COMMINGLED POOL** | **COMMINGLED POOL** |
| By: Fidelity Institutional Asset Management Trust Company as Trustee | By: Fidelity Institutional Asset Management Trust Company as Trustee |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **VARIABLE INSURANCE PRODUCTS FUND** | **VARIABLE INSURANCE PRODUCTS FUND** |
| **III: GROWTH OPPORTUNITIES** | **III: GROWTH OPPORTUNITIES** |
| **PORTFOLIO** | **PORTFOLIO** |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY** | **FIDELITY ADVISOR SERIES I: FIDELITY** |
| **ADVISOR GROWTH OPPORTUNITIES FUND** | **ADVISOR GROWTH OPPORTUNITIES FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY** | **FIDELITY ADVISOR SERIES I: FIDELITY** |
| **ADVISOR SERIES GROWTH** | **ADVISOR SERIES GROWTH** |
| **OPPORTUNITIES FUND** | **OPPORTUNITIES FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST:** | **FIDELITY MT. VERNON STREET TRUST:** |
| **FIDELITY SERIES GROWTH COMPANY** | **FIDELITY SERIES GROWTH COMPANY** |
| **FUND** | **FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST:** | **FIDELITY MT. VERNON STREET TRUST:** |
| **FIDELITY GROWTH COMPANY FUND** | **FIDELITY GROWTH COMPANY FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY GROWTH COMPANY** | **FIDELITY GROWTH COMPANY** |
| **COMMINGLED POOL** | **COMMINGLED POOL** |
| By: Fidelity Management Trust Company, as Trustee | By: Fidelity Management Trust Company, as Trustee |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST:** | **FIDELITY MT. VERNON STREET TRUST:** |
| **FIDELITY GROWTH COMPANY K6 FUND** | **FIDELITY GROWTH COMPANY K6 FUND** |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY U.S. GROWTH OPPORTUNITIES** | **FIDELITY U.S. GROWTH OPPORTUNITIES** |
| **INVESTMENT TRUST** | **INVESTMENT TRUST** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY NORTHSTAR FUND – SUB D** | **FIDELITY NORTHSTAR FUND – SUB D** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY CANADIAN GROWTH COMPANY** | **FIDELITY CANADIAN GROWTH COMPANY** |
| **FUND** | **FUND** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY SPECIAL SITUATIONS FUND** | **FIDELITY SPECIAL SITUATIONS FUND** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY GLOBAL INNOVATORS** | **FIDELITY GLOBAL INNOVATORS** |
| **INVESTMENT TRUST** | **INVESTMENT TRUST** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ James Wegmann |
| Name: James Wegmann | Name: James Wegmann |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Seventh Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **HIGHBRIDGE TACTICAL CREDIT MASTER** | **HIGHBRIDGE TACTICAL CREDIT MASTER** |
| **FUND, L.P.** | **FUND, L.P.** |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| Title: Managing Director | Title: Managing Director |
| **HIGHBRIDGE TACTICAL CREDIT** | **HIGHBRIDGE TACTICAL CREDIT** |
| **INSTITUTIONAL FUND, L.P.** | **INSTITUTIONAL FUND, L.P.** |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| Title: Managing Director | Title: Managing Director |
| **1992 MASTER FUND CO – INVEST** | **1992 MASTER FUND CO – INVEST** |
| **SPC - SERIES 4 SEGREGATED PORTFOLIO** | **SPC - SERIES 4 SEGREGATED PORTFOLIO** |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| Title: Managing Director | Title: Managing Director |

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*Neutron Holdings, Inc. – Seventh Amendment to Note Purchase Agreement*

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**NEUTRON HOLDINGS, INC.**

**EIGHTH AMENDMENT TO**

**NOTE PURCHASE AGREEMENT**

This EIGHTH AMENDMENT TO NOTE PURCHASE AGREEMENT (this "**Amendment**") is made and entered into as of October 6, 2025 by and among Neutron Holdings, Inc., a Delaware corporation (the "**Company**") and the undersigned investors party hereto (the "**Investors**").

**RECITALS**

WHEREAS, the Company and certain of the Investors are parties to that certain Note Purchase Agreement, dated as of October 29, 2021 (as amended by that certain Amendment to Note Purchase Agreement, dated as of November 15, 2021, as further amended by that certain Second Amendment to Note Purchase Agreement, dated as of January 26, 2022, as further amended by that certain Third Amendment to Note Purchase Agreement, dated as of June 29, 2022, as further amended by that certain Fourth Amendment to Note Purchase Agreement, dated as of March 23, 2023, as further amended by that certain Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Note Purchase Agreement, dated as of October 5, 2023, as further amended by that certain Sixth Amendment to Note Purchase Agreement, dated as of April 29, 2024, and as further amended by that certain Seventh Amendment to Note Purchase Agreement, dated as of August 28, 2024, the "**Purchase Agreement**"), by and among the Company, Wilmington Savings Fund Society, FSB, in its capacity as collateral agent and those persons and entities listed on the <u>Schedule of Purchasers</u> attached thereto (the "**2021 Note Investors**"), pursuant to which the Company sold and issued to certain of the Investors certain secured convertible promissory notes (the "**Convertible Notes**");

WHEREAS, the Purchase Agreement provides that any provision of the Purchase Agreement may be amended, waived or modified only upon the written consent of the Company and the Requisite Holders;

WHEREAS, the undersigned Investors constitute the Requisite Holders;

WHEREAS, the Company has proposed to amend certain provisions of the Purchase Agreement and the Requisite Holders agree to so amend the Purchase Agreement, subject to the terms and conditions contained herein; and

WHEREAS, capitalized terms not otherwise defined herein shall have the meaning set forth in the Purchase Agreement.

**AGREEMENT**

NOW THEREFORE, in consideration of the foregoing, and the representations, warranties, and conditions set forth below, the parties hereto, intending to be legally bound, hereby agree as follows:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.***Amendments.***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)The following defined term "Swap Contracts" is added to Section 1 of the Purchase Agreement:

""<u>Swap Contract</u>" means (a) any and all rate swap transactions, forward rate transactions, commodity swaps, forward commodity contracts, forward foreign exchange transactions, currency swap transactions, cross-currency rate swap transactions, spot contracts, or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any other similar transactions or any combination of 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 (any such master agreement, together with any related schedules, a "<u>Master Agreement</u>"), including any such obligations or liabilities under any Master Agreement, in each case for the purpose of hedging the foreign currency, interest rate or commodity risk associated with the operations. Notwithstanding the foregoing, Swap Contract shall not include any equity swaps, options or forwards to which the Company or any Subsidiary is party that are classified and accounted for in the Company's stockholders' equity under GAAP."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)The defined term "Permitted Indebtedness" in the Purchase Agreement is hereby amended by adding clause (xxi):

"(xxi) Indebtedness incurred under any Swap Contracts entered into in the ordinary course of business, and not for speculative purposes, to protect against changes in interest rates or foreign exchange rates."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)The defined term "Permitted Investments" in the Purchase Agreement is hereby amended by adding clause (xx):

"(xx)&nbsp;&nbsp;&nbsp;&nbsp;Investments in Swap Contracts permitted under clause (xxi) of the definition of "Permitted Indebtedness"."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)The defined term "Permitted Transfers" in the Existing Credit Agreement is hereby amended by adding clause (viii):

"(viii) the unwinding of any Swap Contract in accordance with its terms."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.***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)*Amendment*. Except as amended hereby, the Purchase Agreement remains unmodified and in full force and effect. This Amendment may not be amended, waived, discharged

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or terminated other than by a written instrument referencing this Amendment and signed by the Company and the Requisite Holders; provided, however, that any such amendment, modification or waiver may not adversely affect the rights or obligation of any Investor in a manner differently than other Investors without the express written consent of such adversely affected Investor.

&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)*Governing Law; Submission to Jurisdiction; Etc*. The provisions of Section 10.2 of the Purchase Agreement shall apply to this Amendment, *mutatis mutandis* as of set forth 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;(c)*Entire Agreement*. This Amendment and the Purchase Agreement (to the extent hereby amended), including the exhibits attached thereto, constitute the full and entire understanding and agreement between the parties for the subjects hereof and thereof. No party shall be liable or bound to any other party in any manner for the subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth herein or therein.

&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)*Severability*. If any provision of this Amendment becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Amendment, and such court will replace such illegal, void or unenforceable provision of this Amendment with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this Amendment 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;(e)*Counterparts*. This Amendment may be executed in one (1) or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same agreement. Counterparts may be delivered via facsimile, electronic mail (including any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

(*Signature Page Follows*)

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IN WITNESS WHEREOF, the parties have caused this Eighth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| **NEUTRON HOLDINGS, INC.**<br>a Delaware corporation | **NEUTRON HOLDINGS, INC.**<br>a Delaware corporation |
| By: | /s/ Ann Gugino |
| Name: Ann Gugino | Name: Ann Gugino |
| Title: Chief Financial Officer | Title: Chief Financial Officer |

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*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Eighth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **SAPPHIRE DIRECT HOLDINGS RSC LTD** | **SAPPHIRE DIRECT HOLDINGS RSC LTD** |
| By: | /s/ Joseph Cha |
| Name: Joseph Cha | Name: Joseph Cha |
| Title: Director | Title: Director |

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*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Eighth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

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| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **FIDELITY SECURITIES FUND:**<br>**FIDELITY BLUE CHIP GROWTH FUND** | **FIDELITY SECURITIES FUND:**<br>**FIDELITY BLUE CHIP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH**<br>**COMMINGLED POOL** | **FIDELITY BLUE CHIP GROWTH**<br>**COMMINGLED POOL** |
| By: Fidelity Management Trust Company, as Trustee | By: Fidelity Management Trust Company, as Trustee |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FMR CAPITAL, INC. - FLEX PILOT**<br>**PORTFOLIO**  | **FMR CAPITAL, INC. - FLEX PILOT**<br>**PORTFOLIO**  |
| By: Fidelity Management & Research Company LLC, as Investment Advisor | By: Fidelity Management & Research Company LLC, as Investment Advisor |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** | **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIDELITY BLUE CHIP GROWTH**<br>**INSTITUTIONAL TRUST**  | **FIDELITY BLUE CHIP GROWTH**<br>**INSTITUTIONAL TRUST**  |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **FIAM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** | **FIAM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** |
| By: Fidelity Institutional Asset Management Trust Company as Trustee | By: Fidelity Institutional Asset Management Trust Company as Trustee |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

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*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

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| | |
|:---|:---|
| **VARIABLE INSURANCE PRODUCTS FUND**<br>**III: GROWTH OPPORTUNITIES**<br>**PORTFOLIO** | **VARIABLE INSURANCE PRODUCTS FUND**<br>**III: GROWTH OPPORTUNITIES**<br>**PORTFOLIO** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

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---

| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY ADVISOR SERIES I: FIDELITY**<br>**ADVISOR SERIES GROWTH**<br>**OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY**<br>**ADVISOR SERIES GROWTH**<br>**OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMPANY FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST:**<br>**FIDELITY GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST:**<br>**FIDELITY GROWTH COMPANY FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY GROWTH COMPANY**<br>**COMMINGLED POOL**  | **FIDELITY GROWTH COMPANY**<br>**COMMINGLED POOL**  |
| By: Fidelity Management Trust Company, as Trustee | By: Fidelity Management Trust Company, as Trustee |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY K6 FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY K6 FUND** |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST** | **FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY NORTHSTAR FUND – SUB D** | **FIDELITY NORTHSTAR FUND – SUB D** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY CANADIAN GROWTH COMPANY FUND** | **FIDELITY CANADIAN GROWTH COMPANY FUND** |
| By: Its Manager Fidelity Investments Canada ULC | By: Its Manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY SPECIAL SITUATIONS FUND** | **FIDELITY SPECIAL SITUATIONS FUND** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

------

---

| | |
|:---|:---|
| **FIDELITY GLOBAL INNOVATORS**<br>**INVESTMENT TRUST** | **FIDELITY GLOBAL INNOVATORS**<br>**INVESTMENT TRUST** |
| By: Its manager Fidelity Investments Canada ULC | By: Its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Name: Chris Maher | Name: Chris Maher |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Eighth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

---

| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **UBER TECHNOLOGIES, INC**. | **UBER TECHNOLOGIES, INC**. |
| By: | /s/ Madhu Kannan |
| Name: Madhu Kannan | Name: Madhu Kannan |
| Title: Chief Business Officer | Title: Chief Business Officer |

---

*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

------

IN WITNESS WHEREOF, the parties have caused this Eighth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

---

| | |
|:---|:---|
| **INVESTOR:** | **INVESTOR:** |
| **HIGHBRIDGE TACTICAL CREDIT MASTER** | **HIGHBRIDGE TACTICAL CREDIT MASTER** |
| **FUND, L.P.** | **FUND, L.P.** |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Managing Director<br>Co-Chief Investment Officer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Managing Director<br>Co-Chief Investment Officer |
| **HIGHBRIDGE TACTICAL CREDIT<br>INSTITUTIONAL FUND, L.P.** | **HIGHBRIDGE TACTICAL CREDIT<br>INSTITUTIONAL FUND, L.P.** |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Managing Director<br>Co-Chief Investment Officer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Managing Director<br>Co-Chief Investment Officer |
| **1992 MASTER FUND CO – INVEST<br>SPC - SERIES 4 SEGREGATED PORTFOLIO** | **1992 MASTER FUND CO – INVEST<br>SPC - SERIES 4 SEGREGATED PORTFOLIO** |
| By: | /s/ Jonathan Segal |
| Name: Jonathan Segal | Name: Jonathan Segal |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Managing Director<br>Co-Chief Investment Officer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Managing Director<br>Co-Chief Investment Officer |

---

*Neutron Holdings, Inc. – Eighth Amendment to Note Purchase Agreement*

------

**NEUTRON HOLDINGS, INC.**

**NINTH AMENDMENT TO** 

**NOTE PURCHASE AGREEMENT** 

This NINTH AMENDMENT TO NOTE PURCHASE AGREEMENT (this "**Amendment**") is made and entered into as of March 13, 2026 by and among Neutron Holdings, Inc., a Delaware corporation (the "**Company**") and the undersigned investors party hereto (the "**Investors**").

**RECITALS**

WHEREAS, the Company and certain of the Investors are parties to that certain Note Purchase Agreement, dated as of October 29, 2021 (as amended by that certain Amendment to Note Purchase Agreement, dated as of November 15, 2021, as further amended by that certain Second Amendment to Note Purchase Agreement, dated as of January 26, 2022, as further amended by that certain Third Amendment to Note Purchase Agreement, dated as of June 29, 2022, as further amended by that certain Fourth Amendment to Note Purchase Agreement, dated as of March 23, 2023, as further amended by that certain Omnibus First Amendment to Convertible Notes and Fifth Amendment and Consent to Note Purchase Agreement, dated as of October 5, 2023, as further amended by that certain Sixth Amendment to Note Purchase Agreement, dated as of April 29, 2024, as further amended by that certain Seventh Amendment to Note Purchase Agreement, dated as of August 28, 2024, and as further amended by that certain Eighth Amendment to Note Purchase Agreement, dated as of October 6, 2025, the "**Purchase Agreement**"), by and among the Company, Wilmington Savings Fund Society, FSB, in its capacity as collateral agent and those persons and entities listed on the <u>Schedule of Purchasers</u> attached thereto (the "**2021 Note Investors**"), pursuant to which the Company sold and issued to certain of the Investors certain secured convertible promissory notes (the "**Convertible Notes**");

WHEREAS, the Purchase Agreement provides that any provision of the Purchase Agreement may be amended, waived or modified only upon the written consent of the Company and the Requisite Holders;

WHEREAS, the undersigned Investors constitute the Requisite Holders;

WHEREAS, the Company has proposed to amend certain provisions of the Purchase Agreement and the Requisite Holders agree to so amend the Purchase Agreement, subject to the terms and conditions contained herein; and

WHEREAS, capitalized terms not otherwise defined herein shall have the meaning set forth in the Purchase Agreement.

------

**AGREEMENT**

NOW THEREFORE, in consideration of the foregoing, and the representations, warranties, and conditions set forth below, the parties hereto, intending to be legally bound, hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.***Amendments***.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)Clause (xx) of the defined term "Permitted Indebtedness" in the Purchase Agreement is hereby amended by deleting the term "$75,000,000" and replacing such term with "$125,000,000".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)The defined term "Permitted Indebtedness" in the Purchase Agreement is hereby amended by adding clause (xxi):

"(xxi)&nbsp;&nbsp;&nbsp;&nbsp;unsecured Indebtedness arising under Guarantees and similar instruments issued by the Company (including Guarantees issued by the Company in respect of the obligations of any of its Subsidiaries) in connection with any request for proposals, tenders, concessions, licenses, permits, franchises, contracts for goods, services or equipment, or other business operations, entered into with cities, municipalities, or any other Governmental Authority with whom the Company or any its Subsidiaries conducts or intends to conduct business, including all obligations, liabilities and indemnities arising thereunder, and, in each case, not in connection with any Indebtedness for borrowed money."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)The defined term "Permitted Investment" in the Purchase Agreement is hereby amended by adding clause (xxi):

"(xxi)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness permitted under clause (xxi) of the definition of "Permitted Indebtedness" to the extent such Indebtedness constitutes Investments."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)The defined term "Permitted Investments" in the Purchase Agreement is hereby amended by amending and restating clause (iii) as follows:

"(c) Repurchases by Company of its equity interests issued to departing managers, advisory members, officers, employees, consultants, directors or other service providers of Company, or departing officers, employees, consultants or other consultants of any Notes Party who are acting in such capacity on behalf of Company of equity interests of Company, <u>provided</u> that the aggregate amount of such repurchases per Fiscal Year shall not exceed $3,000,000 per Fiscal Year and no default known to Company or Event of Default shall have occurred or be continuing; provided further that, notwithstanding the foregoing, in connection with the settlement of Indebtedness represented by the promissory notes listed on Schedule 1B of the Senior Credit Agreement, equity interests of the Borrower may be repurchased or otherwise taken possession of by the Borrower, including through netting

&nbsp;&nbsp;&nbsp;&nbsp;-2-

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arrangements, so long as no default known to Borrower or Event of Default shall have occurred or be continuing;"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)Section 6.2(e) in the Purchase Agreement is hereby amended by amending and restating clause (c) as follows:

"(c) waive, release or forgive any Indebtedness (other than Indebtedness represented by promissory notes listed on Schedule 1B of the Senior Credit Agreement, which, for the avoidance of doubt, may be waived, released or forgiven by the Company as the Company may reasonably determine) owed by any departing employees, officers, managers or directors in excess of $750,000 in the aggregate so long as no default known to the Company or Event of Default has occurred or is continuing;"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.***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)*Amendment*. Except as amended hereby, the Purchase Agreement remains unmodified and in full force and effect. This Amendment may not be amended, waived, discharged or terminated other than by a written instrument referencing this Amendment and signed by the Company and the Requisite Holders; provided, however, that any such amendment, modification or waiver may not adversely affect the rights or obligation of any Investor in a manner differently than other Investors without the express written consent of such adversely affected Investor.

&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)*Governing Law; Submission to Jurisdiction; Etc*. The provisions of Section 10.2 of the Purchase Agreement shall apply to this Amendment, *mutatis mutandis* as of set forth 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;(c)*Entire Agreement*. This Amendment and the Purchase Agreement (to the extent hereby amended), including the exhibits attached thereto, constitute the full and entire understanding and agreement between the parties for the subjects hereof and thereof. No party shall be liable or bound to any other party in any manner for the subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth herein or therein.

&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)*Severability*. If any provision of this Amendment becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Amendment, and such court will replace such illegal, void or unenforceable provision of this Amendment with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this Amendment 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;(e)*Counterparts*. This Amendment may be executed in one (1) or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same agreement. Counterparts may be delivered via facsimile, electronic mail (including any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law, e.g., www.docusign.com) or other transmission method

&nbsp;&nbsp;&nbsp;&nbsp;-3-

------

and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

*(Signature Page Follows)*

&nbsp;&nbsp;&nbsp;&nbsp;-4-

------

IN WITNESS WHEREOF, the parties have caused this Ninth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

**COMPANY:**

**NEUTRON HOLDINGS, INC.**

a Delaware corporation

By: <u>&nbsp;&nbsp;&nbsp;&nbsp;/s/ Ann Gugino</u>

Name: Ann Gugino

Title: Chief Financial Officer

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Ninth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

**INVESTOR:**

**SAPPHIRE DIRECT HOLDINGS RSC LTD**

By: <u>/s/ Joseph Cha</u>

Name: Joseph Cha

Title: Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Ninth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

**INVESTOR:** 

**FIDELITY SECURITIES FUND:** 

**FIDELITY BLUE CHIP GROWTH FUND**

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIDELITY BLUE CHIP GROWTH** 

**COMMINGLED POOL**

By:&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Management Trust Company,

&nbsp;&nbsp;&nbsp;&nbsp;as Trustee

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FMR CAPITAL, INC. - FLEX PILOT PORTFOLIO**

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title: Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIDELITY SECURITIES FUND: FIDELITY**

**BLUE CHIP GROWTH K6 FUND**

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory <br>

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIDELITY BLUE CHIP GROWTH**

**INSTITUTIONAL TRUST**

By:&nbsp;&nbsp;&nbsp;&nbsp;Its manager Fidelity Investments Canada

&nbsp;&nbsp;&nbsp;&nbsp;ULC

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIAM TARGET DATE BLUE CHIP**

**GROWTH COMMINGLED POOL**

By:&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Institutional Asset Management

&nbsp;&nbsp;&nbsp;&nbsp;Trust Company as Trustee

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**VARIABLE INSURANCE PRODUCTS FUND III: GROWTH OPPORTUNITIES PORTFOLIO**

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND**

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR SERIES GROWTH OPPORTUNITIES FUND**

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMPANY FUND**

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND**

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIDELITY GROWTH COMPANY**

**COMMINGLED POOL**

By: Fidelity Management Trust Company, as Trustee

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY K6 FUND**

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIDELITY U.S. GROWTH OPPORTUNITIES INVESTMENT TRUST**

By: Its Manager Fidelity Investments Canada ULC

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIDELITY NORTHSTAR FUND – SUB D**

By: Its Manager Fidelity Investments Canada ULC

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIDELITY CANADIAN GROWTH COMPANY FUND**

By: Its Manager Fidelity Investments Canada ULC

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIDELITY SPECIAL SITUATIONS FUND**

By: Its manager Fidelity Investments Canada ULC

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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**FIDELITY GLOBAL INNOVATORS INVESTMENT TRUST**

By: Its manager Fidelity Investments Canada ULC

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chris Maher</u>

Name: Chris Maher

Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory <br>

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Ninth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

**INVESTOR:**

**UBER TECHNOLOGIES, INC.**

By: <u>/s/ Odette Rodrigues</u>

Name: Odette Rodrigues

Title: Vice President, Corporate Finance, Capital Markets and Treasury

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

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IN WITNESS WHEREOF, the parties have caused this Ninth Amendment to Note Purchase Agreement to be duly executed and delivered by their properly and duly authorized officers, effective as of the Effective Date.

**INVESTOR:**

**HIGHBRIDGE TACTICAL CREDIT MASTER FUND, L.P.**

By: <u>/s/ Matthew Fuller</u>

Name: Matthew Fuller

Title: Managing Director

**HIGHBRIDGE TACTICAL CREDIT INSTITUTIONAL FUND, L.P.**

By: <u>/s/ Matthew Fuller</u>

Name: Matthew Fuller

Title: Managing Director

**1992 MASTER FUND CO - INVEST SPC- SERIES 4 SEGREGATED PORTFOLIO**

By: <u>/s/ Matthew Fuller</u>

Name: Matthew Fuller

Title: Managing Director

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

*Neutron Holdings, Inc. – Ninth Amendment to Note Purchase Agreement*

## Exhibit 4.6

**Exhibit 4.6**

![image_0.jpg](image_0.jpg)

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AS AMENDED (the "1933 ACT"), OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO YOU THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE 1933 ACT, OR ANY APPLICABLE STATE SECURITIES LAWS.

**PLAIN ENGLISH WARRANT AGREEMENT**

**This is a PLAIN ENGLISH WARRANT AGREEMENT** dated March 29, 2018 by and between NEUTRON HOLDINGS, INC., a Delaware corporation, and TRIPLEPOINT CAPITAL LLC, a Delaware limited liability company.

The words "We", "Us", or "Our" refer to the warrant holder, which is TRIPLEPOINT CAPITAL LLC. The words "You" or "Your" refers to the issuer, which is NEUTRON HOLDINGS, INC., and not to any individual. The words "the Parties" refers to both TRIPLEPOINT CAPITAL LLC and NEUTRON HOLDINGS, INC. This Plain English Warrant Agreement may be referred to as the "Warrant Agreement".

The Parties have entered into a Plain English Growth Capital Loan and Security Agreement dated as of March 29, 2018 (the "Loan Agreement").

In consideration of such Loan Agreement, the Parties agree to the following mutual agreements and conditions set forth below:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **WARRANT INFORMATION** | **WARRANT INFORMATION** | **WARRANT INFORMATION** | **WARRANT INFORMATION** | **WARRANT INFORMATION** | **WARRANT INFORMATION** |
| **<u>Effective Date</u>**<br>March 29, 2018 | **<u>Effective Date</u>**<br>March 29, 2018 | **<u>Warrant Number</u>**<br>1140-W-01 | **<u>Warrant Number</u>**<br>1140-W-01 | **<u>Loan Facility Number</u>**<br>1140-GC-01 | **<u>Loan Facility Number</u>**<br>1140-GC-01 |
| **<u>Warrant Coverage</u>**<br>$525,000 (5.25% of $10,000,000) | **<u>Number of Shares</u>**<br>78,452 subject to adjustment as set forth in this Warrant Agreement. | **<u>Number of Shares</u>**<br>78,452 subject to adjustment as set forth in this Warrant Agreement. | **<u>Price Per Share</u>**<br>$6.6920 subject to adjustment as set forth in this Warrant Agreement. | **<u>Price Per Share</u>**<br>$6.6920 subject to adjustment as set forth in this Warrant Agreement. | **<u>Type of Stock</u>**<br>Series B Preferred Stock, subject to adjustment as set forth in this Warrant Agreement. |

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| | | |
|:---|:---|:---|
| **OUR CONTACT INFORMATION** | **OUR CONTACT INFORMATION** | **OUR CONTACT INFORMATION** |
| **<u>Name</u>**<br>TRIPLEPOINT CAPITAL LLC | **<u>Address For Notices</u>**<br>2755 Sand Hill Road, Ste. 150<br>Menlo Park, CA 94025<br>Tel: [\*\*\*]<br>Fax: [\*\*\*] | **<u>Contact Person</u>**<br>Sajal Srivastava, President<br>Tel: [\*\*\*]<br>Fax: [\*\*\*]<br>email: [\*\*\*]@triplepointcapital.com |
| **YOUR CONTACT INFORMATION** | **YOUR CONTACT INFORMATION** | **YOUR CONTACT INFORMATION** |
| **<u>Customer Name</u>**<br>Neutron Holdings, Inc. | **<u>Address For Notices</u>**<br>2121 South El Camino Real<br>Suite Bl00<br>San Mateo, CA 94403 | **<u>Contact Person</u>**<br>Scot Mollot, Dir. Finance<br>Tel: [\*\*\*]<br>Fax: [\*\*\*]<br>email: [\*\*\*]@limebike.com |

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**1. WHAT YOU AGREE TO GRANT US**<br>

You grant to Us and We are entitled, upon the terms and subject to the conditions set forth in this Warrant Agreement, to purchase from You, at a price per share equal to the Exercise Price, that number of fully paid and non-assessable shares of Your Warrant Stock equal to Five Hundred Twenty-Five Thousand Dollars ($525,000), divided by the Exercise Price.

The number of shares of Warrant Stock and the Exercise Price of such Warrant Stock are subject to adjustment as provided in Section 4 hereof.

For purposes of this Warrant Agreement, the following capitalized terms have the meanings given below:

"Exercise Price" means the lower of (a) $6.6920 and (b) the lowest per share price for which Your preferred stock is sold in the Next Round.

"Next Round" means the next bona fide round of equity financing occurring subsequent to the Effective Date in which You issue and sell shares of Your preferred stock for aggregate gross cash proceeds of at least $2,000,000 (excluding any amounts received upon conversion or cancellation of indebtedness).

"Warrant Stock" means (a) the class and series of Your preferred stock issued in the Next Round, if the lowest per share price for which such preferred stock is sold in the Next Round is less than $6.6920, or (b) in all other cases, Your Series B Preferred Stock. For avoidance of doubt, if this Warrant Agreement is exercised prior to the Next Round then this Warrant Agreement shall be exercisable for Your Series B Preferred Stock.

The Parties agree that this Warrant Agreement to purchase the Warrant Stock has a fair market value equal to $100 and that $100 of the issue price of the investment will be allocable to the Warrant Agreement and the balance shall be allocable to the Loan Agreement for income tax purposes and the original issue discount on the Loan Agreement shall be considered to be zero.

**2. WHEN ARE WE ENTITLED TO PURCHASE YOUR WARRANT STOCK.**<br>

The term of this Warrant Agreement and Our right to purchase Warrant Stock will begin on the Effective Date, and shall be available for the greater of (i) 10 years from the Effective Date or (ii) 2 years from the effective date of Your initial public offering.

**3. HOW WE MAY PURCHASE YOUR WARRANT STOCK.**<br>

We may exercise Our purchase rights, in whole or in part, at any time, or from time to time, prior to the expiration of the term of this Warrant Agreement, by giving You, except as provided in the last paragraph of this Section 3, a completed and executed **Notice of Exercise** in the form attached as **Exhibit I.** Promptly upon receipt of the Notice of Exercise and in any event no later than twenty-one (21) days after you have received Our Notice of Exercise and payment of the aggregate Exercise Price for the shares purchased, You will issue to Us a certificate for the number of shares of Warrant Stock that We have purchased and You will execute the **Acknowledgment of Exercise** in the form attached hereto as **Exhibit II** indicating the number of shares which will be available to Us for future purchases, if any.

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We may pay for the Warrant Stock by either (i) cash or check, or (ii) by the **net issuance method** as determined below. If We elect the net issuance method, You will issue Warrant Stock using the following formula:

X = <u>Y(A-B)</u>

A

**Where**: X =&nbsp;&nbsp;&nbsp;&nbsp;the number of shares of Warrant Stock to be issued to Us.

Y =&nbsp;&nbsp;&nbsp;&nbsp;the number of shares of Warrant Stock We request to be exercised under this Warrant Agreement.

A =&nbsp;&nbsp;&nbsp;&nbsp;the fair market value of one share of Warrant Stock.

B =&nbsp;&nbsp;&nbsp;&nbsp;the Exercise Price.

For purposes of the above calculation, current fair market value of Warrant Stock shall mean with respect to each share of Warrant Stock:

**If the exercise is in connection with the initial public offering of Your Common Stock,** and if Your registration statement relating to such public offering has been declared effective by the Securities and Exchange Commission, then the fair market value per share shall be the product of (x) the initial "Price to Public" specified in the final prospectus of the offering and (y) the number of shares of common stock into which each share of Warrant Stock is convertible at the time of such exercise.

**If this Warrant Agreement is exercised after, and not in connection with Your initial public offering, and:**

⇨ if traded on a securities exchange, the fair market value shall be the product of (x) the average of the closing prices over a five (5) day period ending three (3) days before the day the current fair market value of the securities is being determined and (y) the number of shares of common stock into which each share of Warrant Stock is convertible at the time of such exercise; or

⇨ if actively traded over-the-counter, the fair market value shall be the product of (x) the average of the closing bid and asked prices quoted on the NASDAQ system (or similar system) over the five (5) day period ending three (3) days before the day the current fair market value of the securities is being determined and (y) the number of shares of common stock into which each share of Warrant Stock is convertible at the time of such exercise.

**If this Warrant Agreement is exercised prior to or after Your initial public offering, and:**

⇨ Your common stock is not listed on any securities exchange or quoted in the NASDAQ system or the over-the-counter market, the current fair market value of Warrant Stock shall be the product of (x) the fair market value of a share of Your common stock (the highest price per share which You could obtain from a willing buyer (not a current employee or director) for shares of common stock sold, from authorized but unissued shares), as determined in good faith by Your Board of Directors, and (y) the number of shares of common stock into which each share of Warrant Stock is convertible at the time of such exercise. Notwithstanding the foregoing, however, if You shall become subject to a merger, acquisition or other consolidation pursuant to which holders of Warrant Stock shall be entitled to receive cash, securities or other property, then the fair market value of the Warrant Stock shall be deemed to be the value received by the holders of the Warrant Stock (on a common equivalent basis) pursuant to such merger or acquisition or other consolidation.

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During the term of this Warrant Agreement, You will at all times from and after the Effective Date have authorized and reserved a sufficient number of shares of (a) Warrant Stock to provide for the exercise of our rights to purchase Warrant Stock, and (b) common stock to provide for the conversion of the Warrant Stock.

If We elect to exercise part of the Warrant Agreement, You will promptly issue to Us an amended Warrant Agreement stating the remaining number of shares that are available. All other terms and conditions of that amended Warrant Agreement shall be identical to those contained in this Warrant Agreement.

If at the end of the term of this Warrant Agreement, the fair market value of one share of Warrant Stock (or other security issuable upon the exercise hereof) as determined in accordance herewith is greater than the Exercise Price in effect on such date, then this Warrant Agreement shall automatically be deemed on and as of such date to be converted pursuant hereto as to all shares of Warrant Stock (or such other securities) for which it shall not previously have been exercised or converted, and You shall promptly deliver a certificate representing the shares of Warrant Stock (or such other securities) issued upon such conversion to Us.

**4. WHEN WILL THE NUMBER OF SHARES AND EXERCISE PRICE CHANGE.**<br>

⇨ **If You are Acquired.** If at any time: (i) there is a reorganization of Your stock (other than a reclassification, exchange or subdivision of Your stock otherwise provided for in this Warrant Agreement); (ii) You merge or consolidate with or into another entity, whether or not You are the surviving entity; (iii) You sell or convey, or grant an exclusive license with respect to, all or substantially all of Your assets to any other person; or (iv) there occurs any transaction or series of related transactions that result in the transfer of fifty percent (50%) or more of the outstanding voting power of the capital stock of You (each of the foregoing events are referred to as a "Merger Event"), then, as a part of such Merger Event, lawful provision shall be made so that We shall thereafter be entitled to receive, upon exercise of Our rights under this Warrant Agreement, the number of shares of preferred stock or other securities of the successor or surviving person resulting from such Merger Event, equal in value to that which would have been issuable if We had exercised Our rights under this Warrant Agreement immediately prior to the Merger Event. In any such case, appropriate adjustment (as determined in good faith by Your Board of Directors) shall be made in the application of the provisions of this Warrant Agreement with respect to Our rights and interest after the Merger Event so that the provisions of this Warrant Agreement (including adjustments of the Exercise Price and number of shares of Warrant Stock purchasable) shall be applicable to the greatest extent possible.

⇨ **If You Reclassify Your Stock.** If at any time You combine, reclassify, exchange or subdivide Your securities or otherwise change any of the securities as to which purchase rights under this Warrant Agreement exist into the same or a different number of securities of any other class or classes, this Warrant Agreement will thereafter represent the right to acquire such number and kind of securities as would have been issuable as the result of such change with respect to the securities which were subject to the purchase rights under this Warrant Agreement immediately prior to such combination, reclassification, exchange, subdivision or other change.

⇨ **If You Subdivide or Combine Your Shares.** If at any time You combine or subdivide the Warrant Stock, the Exercise Price will be proportionately decreased in the case of a subdivision, or proportionately increased in the case of a combination.

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⇨ **If You Pay Stock Dividends.** If at any time You pay a dividend payable in, or make any other distribution (except any distribution specifically provided for in the above paragraphs) of the Warrant Stock, then the Exercise Price shall be adjusted, from and after the record date of such dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately prior to such record date by a fraction (i) the numerator of which shall be the total number of all shares of the Warrant Stock outstanding immediately prior to such dividend or distribution, and (ii) the denominator of which shall be the total number of all shares of the Warrant Stock outstanding immediately after such dividend or distribution. We will thereafter be entitled to purchase, at the Exercise Price resulting from such adjustment, the number of shares of Warrant Stock (calculated to the nearest whole share) obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the number of shares of Warrant Stock issuable upon the exercise hereof immediately prior to such adjustment and dividing the product thereof by the Exercise Price resulting from such adjustment.

⇨ **"Pay to Play" Rights.** In the event that any "pay to play" terms or conditions (i.e. terms or conditions that require a holder of shares of Your preferred stock (the "Preferred Stock") to purchase securities in a future round of equity financing or else lose the benefit of anti-dilution protections applicable to shares of Preferred Stock or have such shares of Preferred Stock automatically convert into common stock or another class or series of capital stock) in Your Certificate of Incorporation are triggered in connection with any sale or issuance of securities (a "Trigger Event"), then, in each such event the purchase rights under this Warrant Agreement shall automatically adjust to provide Us, upon the later exercise hereof, with the same securities and/or rights that We would have received had We (x) exercised this Warrant Agreement prior to such Trigger Event, and (y) participated in the applicable equity financing in an amount sufficient to be deemed to have fully participated for purposes of such "pay to play" provision.

⇨ **If You Change the Antidilution Rights of the Warrant Stock or Issue New Preferred or Convertible Stock.** All antidilution rights applicable to the Warrant Stock purchasable under this Warrant Agreement are as set forth in Your Certificate of Incorporation, as amended through the Effective Date. You will promptly provide Us with any restatement, amendment, modification of any right under Your Certificate of Incorporation. You will provide Us with prior written notice of any issuance of Your stock or other equity security to occur after the Effective Date (other than issuances of "Exempted Securities" as such term is defined in Your Certificate of Incorporation), which notice shall include (a) the price at which such stock or security is to be sold, (b) the number of shares to be issued, and (c) such other information as necessary for Us to determine if a dilutive event has occurred or will occur as a result of such issuance.

**5. WE CAN TRANSFER THIS WARRANT AGREEMENT.**<br>

Subject to the terms and conditions contained in Section 7, We (or any successor transferee) may transfer in whole or in part this Warrant Agreement and all its rights. You will record the transfer on Your books when You receive Our Notice of Transfer in the form attached hereto as Exhibit III, and Our payment of all transfer taxes and other governmental charges involved in such transfer. Notwithstanding any contrary provision herein, at all times prior to the Your initial public offering, (a) We (or any successor transferee) may not, without Your prior written consent, transfer this Warrant or any portion hereof, or any Warrant Stock issued upon any exercise hereof, or any shares or other securities issued upon any conversion of any Warrant Stock issued upon any exercise hereof, to any Competitor (as such term is defined in the Amended and Restated Bylaws of the Company, as amended from time to time), except in connection with an acquisition of You by such a Competitor, and (y) this Warrant may not be transferred in part

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unless such transfer is to a transferee who, pursuant to such transfer, receives the right to purchase at least 35,000 shares of Warrant Stock hereunder (as adjusted from time to time in accordance with Section 4).

**6. REPRESENTATIONS, WARRANTIES, AND COVENANTS FROM YOU.**<br>

⇨ **Reservation of Warrant Stock.** The Warrant Stock issuable upon exercise of Our rights under this Warrant Agreement will be duly and validly reserved and when issued in accordance with the provisions of this Warrant Agreement will be validly issued, fully paid and non-assessable, and will be free of any taxes, liens, charges or encumbrances of any nature whatsoever; provided, however, that the Warrant Stock issuable pursuant to this Warrant Agreement may be subject to restrictions on transfer under state and/or Federal securities laws. Upon Our exercise, You will issue to Us certificates for shares of Warrant Stock without charging Us any tax, or other cost incurred by You in connection with such exercise and the related issuance of shares of Warrant Stock. You will not be required to pay any tax, which may be payable in respect of any transfer involved and the issuance and delivery of any certificate in a name other than TRIPLEPOINT CAPITAL LLC. You shall provide Us with written confirmation within 30 days of the effective date that You have authorized sufficient number of shares of Warrant Stock to be issued under this Warrant Agreement.

⇨ **Due Authority.** Your execution and delivery of this Warrant Agreement and the performance of Your obligations hereunder, including the issuance to Us of the right to acquire the shares of Warrant Stock, have been duly authorized by all necessary corporate action on Your part and this Warrant Agreement is not inconsistent with Your Certificate of Incorporation or Bylaws, do not contravene any law or governmental rule, regulation or order applicable to it, do not and will not contravene any provision of, or constitute a default under, any indenture, mortgage, contract or other instrument to which You are a party or by which You are bound, and this Warrant Agreement constitutes a legal, valid and binding agreement, enforceable in accordance with its respective terms, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors and the rules of law or principles at equity governing specific performance, injunctive relief and other equitable remedies.

⇨ **Consents and Approvals.** No consent or approval of, giving of notice to, registration with, or taking of any other action in respect of any state, Federal or other governmental authority or agency is required with respect to execution, delivery and Your performance of Your obligations under this Warrant Agreement, except for the filing of any required notices pursuant to Federal and state securities laws, which filings will be effective by the times required thereby.

⇨ **Issued Securities.** All of Your issued and outstanding shares of common stock, Warrant Stock or any other securities have been duly authorized and validly issued and are fully paid and nonassessable. All outstanding shares of common stock and Warrant Stock were issued in full compliance with all Federal and state securities laws. In addition as of the Effective Date:

Your authorized capital consists of (A) 4,077,327,500 shares of common stock, of which 1,274,052,100 shares of common stock are issued and outstanding, (B) 172,932,100 shares of Series A-l Preferred Stock, of which all shares are issued and outstanding, 747,164,100 shares of Series A Preferred Stock, of which all shares are issued and outstanding, and 1,302,357,416 shares of Series B Preferred Stock, of which 1,289,044,000 shares are issued and outstanding.

You have reserved 209,794,400 shares of common stock for issuance under Your Stock Incentive Plan and 211,133,100 shares are currently outstanding. Except as otherwise provided in this Warrant Agreement and as noted above, there are no other options, warrants, conversion privileges or other rights

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presently outstanding to purchase or otherwise acquire any authorized but unissued shares of Your capital stock or other of Your securities.

Except as set forth in Your Investors' Rights Agreement, a true, correct and complete copy of which has been delivered to Us prior to the issuance of this Warrant, Your stockholders do not have preemptive rights to purchase new issuances of Your capital stock.

⇨ **Other Commitments to Register Securities.** Except as set forth in this Warrant Agreement and the Investors' Rights Agreement, You are not, pursuant to the terms of any other agreement currently in existence, under any obligation to register under the 1933 Act any of Your presently outstanding securities or any of Your securities which may hereafter be issued.

⇨ **Exempt Transaction.** Subject to the accuracy of Our representations in Section 7 hereof, the issuance of the Warrant Stock upon exercise of this Warrant Agreement will constitute a transaction exempt from (i) the registration requirements of Section 5 of the 1933 Act, in reliance upon Section 4(2) thereof, and (ii) the qualification requirements of the applicable state securities laws.

⇨ **Compliance with Rule 144.** We may sell the Warrant Stock issuable hereunder in compliance with Rule 144 promulgated by the Securities and Exchange Commission. Within ten (10) days of Our request, You agree to furnish Us, a written statement confirming Your compliance with the filing requirements of the Securities and Exchange Commission as set forth in such Rule 144, as may be amended.

⇨ **No Impairment.** You agree not to, by amendment of Your Certificate of Incorporation, by-laws or other organizational or charter documents or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed under this Warrant Agreement by You, but shall at all times in good faith assist in carrying out of all the provisions of this Warrant Agreement and in taking all such action as may be necessary or appropriate to protect Our rights under this Warrant Agreement against impairment. However, You shall not be deemed to have impaired Our rights if You amend Your Certificate of Incorporation, or the holders of Your preferred stock waive their rights thereunder, in a manner that does not (individually or when considered in the context of any other actions being taken in connection with such amendments or waivers) affect Us in a manner different from the effect that such amendments or waivers have on the rights of other holders of the same series and class as the Warrant Stock.

**7. OUR REPRESENTATIONS AND COVENANTS TO YOU.**<br>

⇨ **Investment Purpose.** The right to acquire Warrant Stock or the Warrant Stock issuable upon exercise of Our rights contained herein and the common stock issuable upon conversion will be acquired for investment purposes and not with a view to the sale or distribution of any part thereof, and We have no present intention of selling or engaging in any public distribution of the same in violation of the 1933 Act.

⇨ **Private Issue.** We understand (i) that this Warrant Agreement, the Warrant Stock issuable upon exercise of this Warrant Agreement and the common stock issuable upon conversion of the Warrant Stock are not registered under the 1933 Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this Warrant Agreement will be exempt from the

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registration and qualifications requirements thereof, and (ii) that Your reliance on such exemption is predicated on the representations set forth in this Section 7.

⇨ **Disposition of Our Rights.** In no event will We make a disposition of any of Our rights to acquire Warrant Stock or Warrant Stock issuable upon exercise of such rights or the common stock issuable upon conversion of the Warrant Stock unless and until (i) We shall have notified You in writing of the proposed disposition, and (ii) the transferee agrees to be bound in writing to the applicable terms and conditions of this Warrant Agreement (including the representations and covenants in this Section 7), and (iii) if You request, We shall have furnished You with an opinion of counsel satisfactory to You and Your counsel to the effect that (A) appropriate action necessary for compliance with the 1933 Act has been taken, or (B) an exemption from the registration requirements of the 1933 Act is available. Notwithstanding the foregoing, the restrictions imposed upon the transferability of any of Our rights to acquire Warrant Stock or Warrant Stock issuable on the exercise of such rights or the common stock issuable upon conversion of the Warrant Stock do not apply to transfers from the beneficial owner of any of the aforementioned securities to its nominee or from such nominee to its beneficial owner, and shall terminate as to any particular share of Warrant Stock when (1) such security shall have been effectively registered under the 1933 Act and sold by the holder thereof in accordance with such registration or (2) such security shall have been sold without registration in compliance with Rule 144 under the 1933 Act, or (3) a letter shall have been issued to You at Our request by the staff of the Securities and Exchange Commission or a ruling shall have been issued to You at Our request by such Commission stating that no action shall be recommended by such staff or taken by such Commission, as the case may be, if such security is transferred without registration under the 1933 Act in accordance with the conditions set forth in such letter or ruling and such letter or ruling specifies that no subsequent restrictions on transfer are required. Whenever the restrictions imposed hereunder shall terminate, as hereinabove provided, the holder of a share of Warrant Stock then outstanding as to which such restrictions have terminated shall be entitled to receive from You, without expense to such holder, one or more new certificates for the Warrant or for such shares of Warrant Stock not bearing any restrictive legend referring to 1933 Act registration or exemption.

⇨ **Financial Risk.** We have such knowledge and experience in financial and business matters and knowledge of Your business affairs and financial condition as to be capable of evaluating the merits and risks of Our investment, and have the ability to bear the economic risks of Our investment.

⇨ **Risk of No Registration.** We understand that if You do not register with the Securities and Exchange Commission pursuant to Section 12 of the Securities Exchange Act of 1934 (the "1934 Act"), or file reports pursuant to Section 15(d), of the 1934 Act, or if a registration statement covering the securities under the 1933 Act is not in effect when We desire to sell (i) the rights to purchase Warrant Stock pursuant to this Warrant Agreement, or (ii) the Warrant Stock issuable upon exercise of the right to purchase, or (iii) the common stock issuable upon conversion of the Warrant Stock, We may be required to hold such securities for an indefinite period. We also understand that any sale of Our right to purchase Warrant Stock or Warrant Stock or common stock issuable upon conversion of the Warrant Stock, which might be made by it in reliance upon Rule 144 under the 1933 Act may be made only in accordance with the terms and conditions of that Rule.

⇨ **Accredited Investor.** We are an "accredited investor" within the meaning of the Securities and Exchange Rule 501 of Regulation D of the 1933 Act, as presently in effect.

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**8. NOTICES YOU AGREE TO PROVIDE US.**<br>

You agree to give Us at least twenty (20) days prior written notice of the following events:

⇨&nbsp;&nbsp;&nbsp;&nbsp;If You pay a dividend or distribution declaration upon Your stock.

⇨&nbsp;&nbsp;&nbsp;&nbsp;If You offer for subscription pro-rata to the existing shareholders of Warrant Stock additional stock or other rights.

⇨&nbsp;&nbsp;&nbsp;&nbsp;If You consummate or sign definitive documents providing for a Merger Event.

⇨&nbsp;&nbsp;&nbsp;&nbsp;If You have an initial public offering.

⇨&nbsp;&nbsp;&nbsp;&nbsp;If You dissolve or liquidate.

All notices in this Section must set forth details of the event, how the event adjusts either Our number of shares or Our Exercise Price and the method used for such adjustment.

**Timely Notice.** Your failure to timely provide such notice required above shall entitle Us to retain the benefit of the applicable notice period notwithstanding anything to the contrary contained in any insufficient notice received by Us.

**9. DOCUMENTS YOU WILL PROVIDE US.**<br>

***Upon signing this Warrant Agreement You will provide Us with:***

⇨ Executed originals of this Warrant Agreement, and all other documents and instruments that We may reasonably require.

⇨ Secretary's certificate of incumbency and authority.

⇨ Certified copy of resolutions of Your board of directors approving this Warrant Agreement.

⇨ Certified copy of Certificate of Incorporation and by-laws as amended through the Effective Date.

⇨ Current Investors' Rights Agreement.

***So long as this Warrant Agreement is in effect, You shall provide Us with the following:***

⇨ Within ten (10) business days after the closing of any equity financing, or extension of an existing round of equity financing, occurring after the Effective Date, in which You issue preferred stock or other securities You will provide Us with copies of the fully executed equity financing documents, including without limitation the related stock purchase agreement, investors rights agreement, voting agreement, amended or restated Certificates of Incorporation, current capitalization table and other related documents.

⇨ Within thirty (30) days after completion You shall provide Us with any 409A Valuation Reports or other similar reports prepared for You.

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⇨ No less than ten (10) business days prior to any Merger Event, You shall provide Us with a copy of the executed merger agreement, or other definitive documentation (and all schedules and exhibits thereto) and information concerning Your expected capitalization immediately prior to the Merger Event. Upon consummation of the Merger Event, You shall promptly provide Us with (a) a copy of any modifications or amendments to the executed merger agreement, (b) any other documents in connection therewith, (c) updated information, if any, concerning Your capitalization immediately prior to the Merger Event, and, (d) upon request, by Us any other information reasonably necessary to an informed evaluation of Our rights under this Warrant Agreement.

⇨ After all obligations under the Loan Agreement have been finally paid in full, within thirty (30) days after the end of each quarter, You will provide Us with (1) an unaudited income statement, statement of cash flows, and an unaudited balance sheet prepared in accordance with GAAP accompanied by a report detailing any material contingencies, and (2) within one hundred eighty (180) days of the end of each fiscal year end, You will provide Us with audited financial statements accompanied by an audit report and an unqualified opinion of the independent certified public accountants, provided, however, for any fiscal year for which Your Board of Directors does not require You to prepare audited financial statements, You shall instead deliver audited financial statements, as soon as available, but no later than ninety (90) days after the last day of Your fiscal year.

⇨ You shall submit to Us any other documents and other information that We may reasonably request from time to time and are necessary to implement the provisions and purposes of this Warrant Agreement.

**10. REGISTRATION RIGHTS UNDER THE 1933 ACT.**<br>

The shares of Your common stock into which the Warrant Stock is convertible shall have registration rights as set forth in the Amended and Restated Investors' Rights Agreement, dated as of October 10, 2017 (as amended, the "Investors' Rights Agreement"). The provisions set forth in Your Investors' Rights Agreement relating to such registration rights in effect as of the date of this Warrant Agreement may not be amended, modified or waived without Our prior written consent unless such amendment, modification or waiver affects the rights associated with the shares of common stock into which the Warrant Stock is convertible in the same manner as such amendment, modification, or waiver affects the rights associated with all other shares of the same series and class of stock as the Warrant Stock.

**11. OTHER LEGAL PROVISIONS THE PARTIES WILL ABIDE BY.**<br>

**Effective Date.** This Warrant Agreement shall be construed and shall be given effect in all respects as if it had been executed and delivered by the Parties on the date hereof. This Warrant Agreement shall be binding upon any of the successors or assigns of the Parties.

**Attorney's Fees.** In any litigation, arbitration or court proceeding between the Parties relating to this Warrant Agreement, the prevailing party shall be entitled to reasonable attorneys' fees and expenses and all costs of proceedings incurred in enforcing this Warrant Agreement.

**Governing Law.** This Warrant Agreement shall be governed by and construed for all purposes under and in accordance with the laws of the State of California without giving effect to that body of law pertaining to conflicts of laws.

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**Consent to Jurisdiction and Venue.** All judicial proceedings arising in or under or related to this Warrant Agreement may be brought in any state or federal court of competent jurisdiction located in the State of California. By execution and delivery of this Warrant Agreement, each party hereto generally and unconditionally: (a) consents to personal jurisdiction in San Mateo County, State of California; (b) waives any objection as to jurisdiction or venue in San Mateo County, State of California; (c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Warrant Agreement. Service of process on any party hereto in any action arising out of or relating to this Warrant Agreement shall be effective if given in accordance with the requirements for notice set forth in this Section, and shall be deemed effective and received as set forth therein. Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other jurisdiction.

**Mutual Waiver of Jury Trial; Judicial Reference.** Because disputes arising in connection with complex financial transactions are most quickly and economically resolved by an experienced and expert person and the Parties wish applicable state and federal laws to apply (rather than arbitration rules), the Parties desire that their disputes be resolved by a judge applying such applicable laws. EACH OF THE PARTIES SPECIFICALLY WAIVES ANY RIGHT THEY MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, "CLAIMS") ASSERTED BY YOU AGAINST US OR OUR ASSIGNEE OR BY US OR OUR ASSIGNEE AGAINST YOU. IN THE EVENT THAT THE FOREGOING JURY TRIAL WAIVER IS NOT ENFORCEABLE, ALL CLAIMS, INCLUDING ANY AND ALL QUESTIONS OF LAW OR FACT RELATING THERETO, SHALL, AT THE WRITTEN REQUEST OF ANY PARTY, BE DETERMINED BY JUDICIAL REFERENCE PURSUANT TO THE CALIFORNIA CODE OF CIVIL PROCEDURE ("REFERENCE"). THE PARTIES SHALL SELECT A SINGLE NEUTRAL REFEREE, WHO SHALL BE A RETIRED STATE OR FEDERAL JUDGE. IN THE EVENT THAT THE PARTIES CANNOT AGREE UPON A REFEREE, THE REFEREE SHALL BE APPOINTED BY THE COURT. THE REFEREE SHALL REPORT A STATEMENT OF DECISION TO THE COURT. NOTHING IN THIS SECTION SHALL LIMIT THE RIGHT OF ANY PARTY AT ANY TIME TO EXERCISE LAWFUL SELF-HELP REMEDIES, FORECLOSE AGAINST COLLATERAL OR OBTAIN PROVISIONAL REMEDIES. THE PARTIES SHALL BEAR THE FEES AND EXPENSES OF THE REFEREE EQUALLY UNLESS THE REFEREE ORDERS OTHERWISE. THE REFEREE SHALL ALSO DETERMINE ALL ISSUES RELATING TO THE APPLICABILITY, INTERPRETATION, AND ENFORCEABILITY OF THIS SECTION. THE PARTIES ACKNOWLEDGE THAT THE CLAIMS WILL NOT BE ADJUDICATED BY A JURY. This waiver extends to all such Claims, including Claims that involve persons other than You and Us; Claims that arise out of or are in any way connected to the relationship between You and Us; and any Claims for damages, breach of contract, specific performance, or any equitable or legal relief of any kind, arising out of this Warrant Agreement.

**Counterparts.** This Warrant 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.

**Notices.** Any notice required or permitted under this Warrant Agreement shall be given in writing and shall be deemed effectively given upon the earlier of (1) actual receipt or 3 days after mailing if mailed postage prepaid by regular or airmail to Us or You or (2) one day after it is sent by overnight mail via nationally recognized courier; (3) on the same day as sent via confirmed facsimile transmission, provided that the original is sent by personal delivery or mail by the sending party; or (4) on the same day as sent via reliable electronic mail.

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**Remedies.** In the event of any default hereunder, the non-defaulting party may proceed to protect and enforce its rights either by suit in equity and/or by action at law, including but not limited to an action for damages as a result of any such default, and/or an action for specific performance for any default where such party will not have an adequate remedy at law and where damages will not be readily ascertainable. Each party expressly acknowledges and agrees that there is no adequate remedy at law for any breach of this Warrant Agreement and that in the event of any breach of this Warrant Agreement, the injured party shall be entitled to specific performance of any or all provisions hereof or an injunction prohibiting the other party from continuing to commit any such breach of this Warrant Agreement.

**Survival.** The representations, warranties, covenants, and conditions of the Parties contained herein or made pursuant to this Warrant Agreement shall survive the execution and delivery of this Warrant Agreement.

**Severability.** In the event any one or more of the provisions of this Warrant Agreement shall for any reason be held invalid, illegal or unenforceable, the remaining provisions of this Warrant Agreement shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually acceptable valid, legal and enforceable provision, which comes closest to the intention of the Parties underlying the invalid, illegal or unenforceable provision.

**Entire Agreement.** This Warrant Agreement constitutes the entire agreement between the Parties pertaining to the subject matter contained in it and supersedes all prior and contemporaneous agreements, representations and undertakings of the Parties, whether oral or written, with respect to such subject matter.

**Amendments.** Any provision of this Warrant Agreement may only be amended by a written instrument signed by the Parties.

**Lost Warrants or Stock Certificates.** You covenant to Us that, upon receipt of evidence reasonably satisfactory to You of the loss, theft, destruction or mutilation of this Warrant Agreement or any stock certificate and, in the case of any such loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory to You, or in the case of any such mutilation upon surrender and cancellation of such Warrant Agreement or stock certificate, You will make and deliver a new Warrant Agreement or stock certificate, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant Agreement or stock certificate.

**Rights as Stockholders,** We shall not, as a party to this Warrant Agreement, be entitled to vote or receive dividends or be deemed the holder of Warrant Stock or any of Your other securities which may at any time be issuable upon the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon Us any of the rights of one of Your stockholders or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to receive dividends or subscription rights or otherwise until this Warrant Agreement is exercised and the shares purchasable upon the exercise hereof shall have become deliverable, as provided herein.

**Signatures.** This Warrant Agreement may be executed and delivered by facsimile or transmitted electronically in either Tagged Image Format Files ("TIFF") or Portable Document Format ("PDF") and, upon such delivery, the facsimile, TIFF or PDF signature, as applicable, will be deemed to have the same effect as if the original signature had been delivered to the other party.

**(Signature Page to Follow)**

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**IN WITNESS WHEREOF**, each of the Parties have caused this Warrant Agreement to be executed by its officers who are duly authorized as of the Effective Date.

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| | |
|:---|:---|
| **You:** | **NEUTRON HOLDINGS, INC** |
| Signature: | /s/ Weiyao Sun |
| Print Name: | Weiyao Sun |
| Title: | Chief Executive Officer |
| **Us:** | **TRIPLEPOINT CAPITAL LLC** |
| Signature: | /s/ Andrew Olson |
| Print Name: | Andrew Olson |
| Title: | Chief Financial Officer |
| **[SIGNATURE PAGE TO WARRANT AGREEMENT 1140-W-01]** | **[SIGNATURE PAGE TO WARRANT AGREEMENT 1140-W-01]** |

---

## Exhibit 10.1

**Exhibit 10.1**

**NEUTRON HOLDINGS, INC. 2017 STOCK INCENTIVE PLAN**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Purposes of the Plan</u>. The purposes of this Plan are to attract and retain the best available personnel, to provide additional incentives to Employees, Directors and Consultants and to promote the success of the Company's business. This Plan permits the grant of Incentive Stock Options, Non-Qualified Stock Options, Restricted Stock and Restricted Stock Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Definitions</u>. The following definitions shall apply as used herein and in the individual Award Agreements except as defined otherwise in an individual Award Agreement. In the event a term is separately defined in an individual Award Agreement, such definition shall supersede the definition contained in this Section 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Administrator</u>" means the Board or any of the Committees appointed to administer the Plan in accordance with Section 4 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Applicable</u> <u>Laws</u>" means the requirements relating to the administration of equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Award</u>" means, individually or collectively, the grant under the Plan of Options, Restricted Stock or Restricted Stock Units.

&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;"<u>Award</u> <u>Agreement</u>" means the written or electronic agreement evidencing and setting forth the terms and conditions of each Award granted under the Plan, including any amendments 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Board</u>" means the Board of Directors 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Cause</u>" means, with respect to the termination by the Company or a Related Entity of the Grantee's Continuous Service, that such termination is for "Cause" as such term (or word of like import) is expressly defined in a then-effective written agreement between the Grantee and the Company or such Related Entity, or in the absence of such then-effective written agreement and definition, is based on, in the determination of the Administrator, the Grantee's: (i) performance of any act or failure to perform any act in bad faith and to the detriment of the Company or a Related Entity; (ii) dishonesty, intentional misconduct or material breach of any agreement with the Company or a Related Entity; or (iii) commission of a crime involving dishonesty, breach of trust, or physical or emotional harm to any person; provided, however, that with regard to any agreement that defines "Cause" on the occurrence of or in connection with a Corporate Transaction or a Change in Control, such definition of "Cause" shall not apply until a Corporate Transaction or a Change in Control actually occurs.

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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;(g)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Change</u> <u>in</u> <u>Control</u>" means a change in ownership or control of the Company effected through any of the following 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Change in Ownership of the Company</u>. A change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group ("<u>Person</u>"), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than 50% of the total voting power of the stock of the Company, except that any change in the ownership of the stock of the Company as a result of a private financing of the Company that is approved by the Board will not be considered a Change in Control; 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;<u>Change</u> <u>in</u> <u>Effective</u> <u>Control</u> <u>of</u> <u>the</u> <u>Company</u>. If the Company has a class of securities registered pursuant to Section 12 of the Exchange Act, a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this subsection (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;<u>Change in Ownership of a Substantial Portion of the</u> <u>Company's</u> <u>Assets</u>. A change in the ownership of a substantial portion of the Company's assets which occurs on the date that any Person acquires (or has acquired during the 12 month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions. For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.

For purposes of this definition, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company.

Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a "change in control event" within the meaning of Code Section 409A, as it has been and may be amended from time to time, and any proposed or final Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated thereunder from time to time.

Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (i) its sole purpose is to change the jurisdiction of the Company's incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company's securities immediately before 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Code</u>" means the Internal Revenue Code of 1986, 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;(j)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Committee</u>" means any committee composed of members of the Board appointed by the Board to administer the Plan in accordance with Section 4 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;(k)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Common</u> <u>Stock</u>" means the voting 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;(l)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Company</u>" means Neutron Holdings, Inc., a Delaware corporation, or any successor entity that adopts the Plan in connection with a Corporate 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;(m)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Consultant</u>" means any natural person (other than an Employee or a Director, solely with respect to rendering services in such person's capacity as a Director) engaged by the Company or any Related Entity to render *bona fide* consulting or advisory services to the Company or such Related Entity, provided that such services (i) are not in connection with the offer or sale of securities in a capital-raising transaction, and (ii) do not directly or indirectly promote or maintain a market for the Company's 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;(n)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Continuous</u> <u>Service</u>" means that the provision of services to the Company or a Related Entity in any capacity of Employee, Director or Consultant is not interrupted or terminated. In jurisdictions requiring notice in advance of an effective termination as an Employee, Director or Consultant, Continuous Service shall be deemed terminated upon the actual cessation of providing services to the Company or a Related Entity notwithstanding any required notice period that must be fulfilled before a termination as an Employee, Director or Consultant can be effective under Applicable Laws. A Grantee's Continuous Service shall be deemed to have terminated either upon an actual termination of Continuous Service or upon the entity for which the Grantee provides services ceasing to be a Related Entity. Continuous Service shall not be considered interrupted in the case of (i) any approved leave of absence, (ii) transfers among the Company, any Related Entity, or any successor, in any capacity of Employee, Director or Consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Related Entity in any capacity of Employee, Director or Consultant (except as otherwise provided in the Award Agreement). An approved leave of absence shall include sick leave, military leave, or any other authorized personal leave. For purposes of each Incentive Stock Option granted under the Plan, if such leave exceeds three (3) months, and reemployment upon expiration of such leave is not guaranteed by statute or contract, then the Incentive Stock Option shall be treated as a Non-Qualified Stock Option on the day three (3) months and one (1) day following the expiration of such three (3)-month 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;(o)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Corporate</u> <u>Transaction</u>" means any of the following transactions, provided, however, that the Administrator shall determine under parts (iv) and (v) whether multiple transactions are related, and its determination shall be final, binding and conclusive:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;a merger or consolidation in which the Company is not the surviving entity, except for a transaction the principal purpose of which is to change the state in which the Company is incorporated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 sale, transfer or other disposition of all or substantially all of the assets of 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the complete liquidation or dissolution 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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;any reverse merger or series of related transactions culminating in a reverse merger (including, but not limited to, a tender offer followed by a reverse merger) in which the Company is the surviving entity but (A) the shares of Common Stock outstanding immediately prior to such merger are converted or exchanged by virtue of the merger into other property, whether in the form of securities, cash or otherwise, or (B) in which securities possessing more than fifty percent (50%) of the total combined voting power of the Company's outstanding securities are transferred to a person or persons different from those who held such securities immediately prior to such merger or the initial transaction culminating in such merger, but excluding any such transaction or series of related transactions that the Administrator determines shall not be a Corporate 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;(v)&nbsp;&nbsp;&nbsp;&nbsp;acquisition in a single or series of related transactions by any person or related group of persons (other than the Company or by a Company-sponsored employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company's outstanding securities but excluding any such transaction or series of related transactions that the Administrator determines shall not be a Corporate 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;(p)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Director</u>" means a member of the Board or the board of directors of any Related 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;(q)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Disability</u>" means as defined under the long-term disability policy of the Company or the Related Entity to which the Grantee provides services regardless of whether the Grantee is covered by such policy. If the Company or the Related Entity to which the Grantee provides service does not have a long-term disability plan in place, "Disability" means that a Grantee is unable to carry out the responsibilities and functions of the position held by the Grantee by reason of any medically determinable physical or mental impairment for a period of not less than ninety (90) consecutive days. A Grantee will not be considered to have incurred a Disability unless he or she furnishes proof of such impairment sufficient to satisfy the Administrator in its 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;(r)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Employee</u>" means any person, including an Officer or Director, who is in the employ of the Company or any Related Entity, subject to the control and direction of the Company or any Related Entity as to both the work to be performed and the manner and method of performance. The payment of a director's fee by the Company or a Related Entity shall not be sufficient to constitute "employment" 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;(s)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Exchange</u> <u>Act</u>" means the Securities Exchange Act of 1934, 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;(t)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Fair Market Value</u>" means, as of any date, the value of 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;If the Common Stock is listed on one or more established stock exchanges or national market systems, including without limitation the NASDAQ Global Select

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Market, the NASDAQ Global Market or the NASDAQ Capital Market of the NASDAQ Stock Market LLC, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on the principal exchange or system on which the Common Stock is listed (as determined by the Administrator) on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on the last trading date such closing sales price or closing bid was reported), as reported in *The Wall Street Journal* or such other source as the Administrator deems reliable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Common Stock is regularly quoted on an automated quotation system (including the OTC Bulletin Board) or by a recognized securities dealer, its Fair Market Value shall be the closing sales price for such stock as quoted on such system or by such securities dealer on the date of determination, but if selling prices are not reported, the Fair Market Value of a share of Common Stock shall be the mean between the high bid and low asked prices for the Common Stock on the date of determination (or, if no such prices were reported on that date, on the last date such prices were reported), as reported in *The Wall Street Journal* or such other source as the Administrator deems reliable; 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;In the absence of an established market for the Common Stock of the type described in (i) and (ii), above, the Fair Market Value thereof shall be determined by the Administrator in good faith and in a manner consistent with 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;(u)&nbsp;&nbsp;&nbsp;&nbsp;"Grantee" means an Employee, Director or Consultant who receives an Award 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;(v)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Immediate Family</u>" means any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the Grantee's household (other than a tenant or employee), a trust in which these persons (or the Grantee) have more than fifty percent (50%) of the beneficial interest, a foundation in which these persons (or the Grantee) control the management of assets, and any other entity in which these persons (or the Grantee) own more than fifty percent (50%) of the voting interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Incentive Stock Option</u>" means an Option that qualifies as an incentive stock option within the meaning of Section 422 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;(x)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Non-Qualified</u> <u>Stock</u> <u>Option</u>" means an Option that does not qualify as an Incentive Stock 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;(y)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Officer</u>" means a person who is an officer of the Company or a Related Entity, within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Option</u>" means an option to purchase Shares granted pursuant to an Award Agreement under the 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;(aa)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Parent</u>" means a "parent corporation," whether now or hereafter existing, as defined in Section 424(e) 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;(bb)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Participant</u>" means the holder of an outstanding 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;(cc) "<u>Period</u> <u>of</u> <u>Restriction</u>" means the period during which the transfer of Shares of Restricted Stock are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of target levels of performance, or the occurrence of other events as determined by the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Plan</u>" means this 2017 Stock 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;(ee)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Post-Termination Exercise Period</u>" means the period specified in the Award Agreement of not less than thirty (30) days commencing on the date of termination (other than termination by the Company or any Related Entity for Cause) of the Grantee's Continuous Service, or such longer period as may be applicable upon death or Disability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Registration Date</u>" means the first to occur of (i) the closing of the first sale to the general public pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission under the Securities Act of 1933, as amended, of (A) the Common Stock or (B) the same class of securities of a successor corporation (or its Parent) issued pursuant to a Corporate Transaction in exchange for or in substitution of the Common Stock; or (ii) in the event of a Corporate Transaction, the date of the consummation of the Corporate Transaction if the same class of securities of the successor corporation (or its Parent) issuable in such Corporate Transaction shall have been sold to the general public pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission under the Securities Act of 1933, as amended, on or prior to the date of consummation of such Corporate 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;(gg)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Related Entity</u>" means any Parent or Subsidiary of the Company and any business, corporation, partnership, limited liability company or other entity in which the Company or a Subsidiary of the Company holds a controlling interest, directly or indirectly, through one or more intermediaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Restricted Stock</u>" means Shares issued pursuant to a Restricted Stock award under Section 9 of the Plan or issued pursuant to the "early exercise" of an 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Restricted</u> <u>Stock</u> <u>Unit</u>" means a bookkeeping entry representing the economic equivalent of one Share, granted pursuant to Section 10 below. Each Restricted Stock Unit represents and unfunded and unsecured obligation 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;(jj)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Share</u>" means a share 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;(kk)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Subsidiary</u>" means a "subsidiary corporation," whether now or hereafter existing, as defined in Section 424(f) of the Code.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock</u> <u>Subject</u> <u>to</u> <u>the</u> <u>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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of Section 12 below, the maximum aggregate number of Shares which may be issued pursuant to all Awards (including Incentive Stock Options) is 5,111,090,530 Shares. The Shares may be authorized, but unissued, or reacquired 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;Any Share covered by an Award (or portion of an Award) which is forfeited, canceled or expires (whether voluntarily or involuntarily) shall be deemed not to have been issued for purposes of determining the maximum aggregate number of Shares which may be issued under the Plan. Shares that actually have been issued under the Plan pursuant to an Award shall not be returned to the Plan and shall not become available for future issuance under the Plan, except that if unvested Shares are forfeited or repurchased by the Company, such Shares shall become available for future grant under the Plan. Any Shares covered by an Award which are surrendered: (i) in payment of the Award exercise price (including pursuant to the "net exercise" of an option pursuant to Section 7(b)(vi)); or (ii) in satisfaction of tax withholding obligations related to an Award shall be deemed not to have been issued for purposes of determining the maximum number of Shares which may be issued pursuant to all Awards under the Plan, unless otherwise determined by the Administrator. To the extent an Award is paid out in cash rather than Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Notwithstanding the foregoing, and subject to adjustment as provided in Section 12 below, the maximum number of shares that may be issued upon the exercise of Incentive Stock Options will equal the aggregate number specified in Section 3(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Administration</u> <u>of</u> <u>the</u> <u>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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Plan Administrator</u>. With respect to grants of all Awards, the Plan shall be administered by (A) the Board or (B) a Committee designated by the Board, which Committee shall be constituted in such a manner as to satisfy the Applicable Laws. Once appointed, such Committee shall continue to serve in its designated capacity until otherwise directed 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Multiple</u> <u>Administrative</u> <u>Bodies</u>. The Plan may be administered by different bodies with respect to Directors, Officers, Consultants, and Employees who are neither Directors nor Officers.

&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>Powers</u> <u>of</u> <u>the</u> <u>Administrator</u>. Subject to Applicable Laws and the provisions of the Plan (including any other powers given to the Administrator hereunder), and except as otherwise provided by the Board, the Administrator shall have the authority, in its 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;to select the Employees, Directors and Consultants to whom Awards may be granted from time to time 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;to determine whether and to what extent Awards are granted hereunder;

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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;to determine the number of Shares or the amount of other consideration to be covered by each Award granted 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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;to approve forms of Award Agreements for use 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;(v)&nbsp;&nbsp;&nbsp;&nbsp;to determine the terms and conditions of any Award granted 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;(vi)&nbsp;&nbsp;&nbsp;&nbsp;to establish additional terms, conditions, rules or procedures to accommodate the rules or laws of applicable non-U.S. jurisdictions and to afford Grantees favorable treatment under such rules or laws; provided, however, that no Award shall be granted under any such additional terms, conditions, rules or procedures with terms or conditions which are inconsistent with the provisions of 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;(vii)&nbsp;&nbsp;&nbsp;&nbsp;to amend the terms of any outstanding Award granted under the Plan, provided that any amendment that would adversely affect the Grantee's rights under an outstanding Award shall not be made without the Grantee's written consent; provided, however, that an amendment or modification that may cause an Incentive Stock Option to become a Non-Qualified Stock Option shall not be treated as adversely affecting the rights of the Grantee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;to construe and interpret the terms of the Plan and Awards, including without limitation, any notice of award or Award Agreement, granted pursuant to the Plan; 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;(ix)&nbsp;&nbsp;&nbsp;&nbsp;to take such other action, not inconsistent with the terms of the Plan, as the Administrator deems appropriate.

The express grant in the Plan of any specific power to the Administrator shall not be construed as limiting any power or authority of the Administrator; provided that the Administrator may not exercise any right or power reserved to the Board. Any decision made, or action taken, by the Administrator or in connection with the administration of this Plan shall be final, conclusive and binding on all persons having an interest in 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification</u>. In addition to such other rights of indemnification as they may have as members of the Board or as Officers or Employees of the Company or a Related Entity, members of the Board and any Officers or Employees of the Company or a Related Entity to whom authority to act for the Board, the Administrator or the Company is delegated shall be defended and indemnified by the Company to the extent permitted by law on an after-tax basis against all reasonable expenses, including attorneys' fees, actually and necessarily incurred in connection with the defense of any claim, investigation, action, suit or proceeding, or in connection with any appeal therein, to which they or any of them may be a party by reason of any action taken or failure to act under or in connection with the Plan, or any Award granted hereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved by the Company) or paid by them in satisfaction of a judgment in any such claim, investigation, action, suit or proceeding, except in relation to matters as to which it shall be adjudged in such claim, investigation, action, suit or proceeding that such person is liable for gross negligence, bad faith or intentional misconduct; provided, however, that within thirty (30) days after the institution of

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such claim, investigation, action, suit or proceeding, such person shall offer to the Company, in writing, the opportunity at the Company's expense to defend the same.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Eligibility</u>. Awards other than Incentive Stock Options may be granted to Employees, Directors and Consultants. Incentive Stock Options may be granted only to Employees of the Company or a Parent or a Subsidiary of the Company. An Employee, Director or Consultant who has been granted an Award may, if otherwise eligible, be granted additional Awards. Awards may be granted to such Employees, Directors or Consultants who are residing in non-U.S. jurisdictions as the Administrator may determine from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Terms</u> <u>and</u> <u>Conditions</u> <u>of</u> <u>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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Types</u> <u>of</u> <u>Awards</u>. The Administrator is authorized under the Plan to award any type of arrangement to an Employee, Director or Consultant that is not inconsistent with the provisions of the Plan and that by its terms involves or might involve the issuance of (i) cash, (ii) Shares, or (iii) an Award with its grant, exercise, purchase, vesting, settlement or conversion privilege related to the passage of time, the occurrence of one or more events, or the satisfaction of performance criteria or other 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Designation of Award</u>. Each Award shall be designated in the Award Agreement. In the case of an Option, the Option shall be designated as either an Incentive Stock Option or a Non-Qualified Stock Option. However, notwithstanding such designation, an Option will qualify as an Incentive Stock Option under the Code only to the extent the $100,000 limitation of Section 422(d) of the Code is not exceeded. The $100,000 limitation of Section 422(d) of the Code is calculated based on the aggregate Fair Market Value of the Shares subject to Options designated as Incentive Stock Options which become exercisable for the first time by a Grantee during any calendar year (under all plans of the Company or any Parent or Subsidiary of the Company). For purposes of this calculation, Incentive Stock Options shall be taken into account in the order in which they were granted, and the Fair Market Value of the Shares shall be determined as of the grant date of the relevant Option. In the event that the Code or the regulations promulgated thereunder are amended after the date the Plan becomes effective to provide for a different limit on the Fair Market Value of Shares permitted to be subject to Incentive Stock Options, 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions of Award</u>. Subject to the terms of the Plan, the Administrator shall determine the provisions, terms, and conditions of each Award including, but not limited to, the Award vesting schedule, repurchase provisions, rights of first refusal, forfeiture provisions, form of payment (cash, Shares, or other consideration) upon settlement of the Award, payment contingencies, and satisfaction of any performance criteria. The performance criteria established by the Administrator may be based on any one of, or combination of, increase in share price, earnings per share, total stockholder return, return on equity, return on assets, return on investment, net operating income, cash flow, revenue, economic value added, personal management objectives, or other measure of performance selected by the Administrator. Partial achievement of the specified criteria may result in a payment or vesting corresponding to the degree of achievement as specified in the Award 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Acquisitions</u> <u>and</u> <u>Other</u> <u>Transactions</u>. The Administrator may issue Awards under the Plan in settlement, assumption or substitution for, outstanding awards or obligations to grant future awards in connection with the Company or a Related Entity acquiring another entity, an interest in another entity or an additional interest in a Related Entity whether by merger, stock purchase, asset purchase or other form of 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Deferral</u> <u>of Award Payment</u>. The Administrator may establish one or more programs under the Plan to permit selected Grantees the opportunity to elect to defer receipt of consideration upon exercise or settlement of an Award, satisfaction of performance criteria, or other event that absent the election would entitle the Grantee to payment or receipt of Shares or other consideration under an Award. The Administrator may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other earnings, if any, on amounts, Shares or other consideration so deferred, and such other terms, conditions, rules and procedures that the Administrator deems advisable for the administration of any such deferral program.

&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;<u>Separate Programs</u>. The Administrator may establish one or more separate programs under the Plan for the purpose of issuing particular forms of Awards to one or more classes of Grantees on such terms and conditions as determined by the Administrator 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;(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Early</u> <u>Exercise</u>. The Award Agreement may, but need not, include a provision whereby the Grantee may elect at any time while an Employee, Director or Consultant to exercise any part or all of an Option prior to full vesting of the Option. Any unvested Shares received pursuant to such exercise may be subject to a repurchase right in favor of the Company or a Related Entity or to any other restriction the Administrator determines to be 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;(h)&nbsp;&nbsp;&nbsp;&nbsp;<u>Term of Award</u>. The term of each Award shall be the term stated in the Award Agreement, provided, however, that the term of Options shall be no more than ten (10) years from the date of grant thereof. However, in the case of an Incentive Stock Option granted to a Grantee who, at the time the Option is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary of the Company, the term of the Incentive Stock Option shall be five (5) years from the date of grant thereof or such shorter term as may be provided in the Award Agreement. Notwithstanding the foregoing, the specified term of any Award shall not include any period for which the Grantee has elected to defer the receipt of the Shares or cash issuable pursuant to the 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Transferability of Awards</u>. Incentive Stock Options may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Grantee, only by the Grantee. Other Awards shall be transferable (i) by will and by the laws of descent and distribution and (ii) during the lifetime of the Grantee, to the extent and in the manner authorized by the Administrator by gift or pursuant to a domestic relations order to members of the Grantee's Immediate Family. Notwithstanding the foregoing, the Grantee may designate one or more beneficiaries of the Grantee's Award in the event of the Grantee's death on a beneficiary designation form provided by the Administrator.

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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;(j)&nbsp;&nbsp;&nbsp;&nbsp;<u>Time of Granting Awards</u>. The date of grant of an Award shall for all purposes be the date on which the Administrator makes the determination to grant such Award, or such other later date as is determined by the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Award</u> <u>Exercise</u> <u>or</u> <u>Purchase</u> <u>Price,</u> <u>Consideration</u> <u>and</u> <u>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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise or Purchase Price</u>. The exercise or purchase price, if any, for an Award shall be 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;In the case of an Incentive Stock 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;&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;granted to an Employee who, at the time of the grant of such Incentive Stock Option owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary of the Company, the per Share exercise price shall be not less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant; 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;granted to any Employee other than an Employee described in the preceding paragraph, the per Share exercise price shall be not less than one hundred percent (100%) of the Fair Market Value per Share on the date 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;In the case of a Non-Qualified Stock Option, the per Share exercise price shall be not less than one hundred percent (100%) of the Fair Market Value per Share on the date 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing provisions of this Section 7(a), in the case of an Award issued pursuant to Section 6(d) above, the exercise price for the Award shall be determined in accordance with the provisions of the relevant instrument evidencing the agreement to issue such 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Consideration</u>. Subject to Applicable Laws, the consideration to be paid for the Shares to be issued upon exercise or purchase of an Award, including the method of payment, shall be determined by the Administrator. In addition to any other types of consideration the Administrator may determine, the Administrator is authorized to accept as consideration for Shares issued under the Plan 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;cash;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;check;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;delivery of Grantee's promissory note with such recourse, interest, security, and redemption provisions as the Administrator determines as appropriate (but only to the extent that the acceptance or terms of the promissory note would not violate 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;surrender of Shares held for the requisite period, if any, necessary to avoid a charge to the Company's earnings for financial reporting purposes, or delivery of a properly executed form of attestation of ownership of Shares as the Administrator may require

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which have a Fair Market Value on the date of surrender or attestation equal to the aggregate exercise price of the Shares as to which said Award shall be 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;with respect to Options, if the exercise occurs on or after the Registration Date, payment through a broker-dealer sale and remittance procedure pursuant to which the Grantee (A) shall provide written instructions to a Company designated brokerage firm to effect the immediate sale of some or all of the purchased Shares and remit to the Company sufficient funds to cover the aggregate exercise price payable for the purchased Shares and (B) shall provide written directives to the Company to deliver the certificates for the purchased Shares directly to such brokerage firm in order to complete the sale 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;(vi)&nbsp;&nbsp;&nbsp;&nbsp;with respect to Options, payment through a "net exercise" such that, without the payment of any funds, the Grantee may exercise the Option and receive the net number of Shares equal to (i) the number of Shares as to which the Option is being exercised, multiplied by (ii) a fraction, the numerator of which is the Fair Market Value per Share (on such date as is determined by the Administrator) less the exercise price per Share, and the denominator of which is such Fair Market Value per Share (the number of net Shares to be received shall be rounded down to the nearest whole number 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;services rendered to the Company or any Related Entity; 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;(viii)&nbsp;&nbsp;&nbsp;&nbsp;any combination of the foregoing methods of payment.

The Administrator may at any time or from time to time, by adoption of or by amendment to the standard forms of Award Agreement described in Section 4(c)(iv), or by other means, grant Awards which do not permit all of the foregoing forms of consideration to be used in payment for the Shares or which otherwise restrict one or more forms of 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>. No Shares shall be delivered under the Plan to any Grantee or other person until such Grantee or other person has made arrangements acceptable to the Administrator for the satisfaction of any non-U.S., federal, state, or local income and employment tax withholding obligations, including, without limitation, obligations incident to the receipt of Shares. Upon exercise, vesting or settlement of an Award the Company shall withhold or collect from the Grantee an amount sufficient to satisfy such tax obligations, including, but not limited to, by surrender of the whole number of Shares covered by the Award sufficient to satisfy the applicable tax withholding obligations incident to the exercise, vesting or settlement of an Award (reduced to the lowest whole number of Shares if such number of Shares withheld might result in withholding a fractional Share with any remaining tax withholding settled in cash).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise</u> <u>of</u> <u>Option</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;Procedure for Exercise; Rights as a 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;Any Option granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator under the terms of the Plan and specified in the Award 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;An Option shall be deemed to be exercised when written notice of such exercise has been given to the Company in accordance with the terms of the Option by the person entitled to exercise the Option and full payment for the Shares with respect to which the Option is exercised has been made, including, to the extent selected, use of the broker-dealer sale and remittance procedure to pay the purchase price as provided in Section 7(b)(v).

&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>Exercise of Option Following Termination of Continuous Service</u>. In the event of termination of a Grantee's Continuous Service for any reason other than Disability or death (but not in the event of a Grantee's change of status from Employee to Consultant or from Consultant to Employee), such Grantee may, but only during the Post-Termination Exercise Period (but in no event later than the expiration date of the term of such Option as set forth in the Award Agreement), exercise the portion of the Grantee's Option that was vested at the date of such termination or such other portion of the Grantee's Option as may be determined by the Administrator. The Grantee's Award Agreement may provide that upon the termination of the Grantee's Continuous Service for Cause, the Grantee's right to exercise the Option shall terminate concurrently with the termination of Grantee's Continuous Service. In the event of a Grantee's change of status from Employee to Consultant, an Employee's Incentive Stock Option shall convert automatically to a Non-Qualified Stock Option on the day three (3) months and one (1) day following such change of status. To the extent that the Grantee's Option was unvested at the date of termination, or if the Grantee does not exercise the vested portion of the Grantee's Option within the Post-Termination Exercise Period, the Option shall terminate.

&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>Disability</u> <u>of</u> <u>Grantee</u>. In the event of termination of a Grantee's Continuous Service as a result of his or her Disability, such Grantee may, but only within twelve (12) months from the date of such termination (or such longer period as specified in the Award Agreement but in no event later than the expiration date of the term of such Option as set forth in the Award Agreement), exercise the portion of the Grantee's Option that was vested at the date of such termination; provided, however, that if such Disability is not a "disability" as such term is defined in Section 22(e)(3) of the Code, in the case of an Incentive Stock Option such Incentive Stock Option shall automatically convert to a Non-Qualified Stock Option on the day three (3) months and one (1) day following such termination. To the extent that the Grantee's Option was unvested at the date of termination, or if Grantee does not exercise the vested portion of the Grantee's Option within the time specified herein, the Option shall terminate.

&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;<u>Death</u> <u>of</u> <u>Grantee</u>. In the event of a termination of the Grantee's Continuous Service as a result of his or her death, or in the event of the death of the Grantee during the Post-Termination Exercise Period or during the twelve (12) month period following the Grantee's termination of Continuous Service as a result of his or her Disability, the Grantee's estate or a person who acquired the right to exercise the Option by bequest or inheritance may exercise the portion of the Grantee's Option that was vested as of the date of termination, within twelve (12) months from the date of death (or such longer period as specified in the Award Agreement but in no event later than the expiration of the term of such Option as set forth in the Award Agreement). To the extent that, at the time of death, the Grantee's Option was unvested, or if the Grantee's estate or a person who acquired the right to exercise the Option by bequest or inheritance

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does not exercise the vested portion of the Grantee's Option within the time specified herein, the Option shall terminate.

&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;<u>Extension</u> <u>if</u> <u>Exercise</u> <u>Prevented</u> <u>by</u> <u>Law</u>. Notwithstanding the foregoing, if the exercise of an Option within the applicable time periods set forth in this Section 8 is prevented by the provisions of Section 11 below, the Option shall remain exercisable until one (1) month after the date the Grantee is notified by the Company that the Option is exercisable, but in any event no later than the expiration of the term of such Option as set forth in the Award Agreement and only in a manner and to the extent permitted under Code Section 409A.

&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;<u>Compliance</u> <u>with</u> <u>Code</u> <u>Section</u> <u>409A</u>. The Plan and each Award Agreement under the Plan is intended to meet the requirements of Code Section 409A and will be construed and interpreted in accordance with such intent, except as otherwise determined in the sole discretion of the Administrator. To the extent that an Award or payment, or the settlement or deferral thereof, is subject to Code Section 409A the Award will be granted, paid, settled or deferred in a manner that will meet the requirements of Code Section 409A, such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Code Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restricted</u> <u>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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Grant</u> <u>of</u> <u>Restricted</u> <u>Stock</u>. Subject to the terms of the Plan, the Administrator may grant Shares of Restricted Stock to Employees, Consultants and Directors in such amounts as the Administrator, in its sole discretion, will determine.

&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>Restricted Stock Agreement</u>. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the Period of Restriction, the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine. Unless the Administrator determines otherwise, the Company as escrow agent will hold Shares of Restricted Stock until the restrictions on such Shares have lapsed.

&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>Transferability</u>. Except as provided in this Section 9 or the Award Agreement, Shares of Restricted Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction.

&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;<u>Other Restrictions</u>. The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted Stock as it may deem advisable or 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Removal of Restrictions</u>. Except as otherwise provided in this Section 9, Shares of Restricted Stock covered by each Restricted Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction or at such other time as the Administrator may determine. The Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed.

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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;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Voting</u> <u>Rights</u>. During the Period of Restriction, Service Providers holding Shares of Restricted Stock granted hereunder may exercise full voting rights with respect to those Shares, unless the Administrator determines 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;(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Dividends and Other Distributions</u>. During the Period of Restriction, Service Providers holding Shares of Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares, unless the Administrator provides otherwise. 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;(h)&nbsp;&nbsp;&nbsp;&nbsp;<u>Return</u> <u>of</u> <u>Restricted</u> <u>Stock</u> <u>to</u> <u>Company</u>. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restricted</u> <u>Stock</u> <u>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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Grant</u>. Restricted Stock Units may be granted at any time and from time to time as determined by the Administrator. After the Administrator determines that it will grant Restricted Stock Units under the Plan, it will advise the Grantee in an Award Agreement of the terms, conditions, and restrictions related to the grant, including the number of Restricted Stock Units.

&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>Payment</u> <u>for</u> <u>Restricted</u> <u>Stock</u> <u>Units</u>. No cash consideration shall be required of the Grantee in connection with the grant of Restricted Stock Units.

&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>Vesting Criteria and Other Terms</u>. The Administrator will set vesting criteria in its discretion, which, depending on the extent to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Grantee. The Administrator may set vesting criteria based upon the achievement of Company-wide, divisional, business unit, or individual goals (including, but not limited to, continued employment or service), applicable federal or state securities laws or any other basis determined by the Administrator in its 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Earning Restricted Stock Units</u>. Upon meeting the applicable vesting criteria, the Grantee will be entitled to receive a payout as determined by the Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be met to receive a payout.

&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;<u>Voting and Dividend Rights</u>. The holders of Restricted Stock Units shall have no voting rights. Prior to settlement or forfeiture, any Restricted Stock Units granted under the Plan may, at the discretion of the Administrator, carry with them a right to dividend equivalents. Such right entitles the holder to be credited with an amount equal to all cash dividends paid on one Share while the Restricted Stock Unit is outstanding. Dividend equivalents may be converted into additional Restricted Stock Units. Settlement of dividend equivalents may be made

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in the form of cash, Shares, or a combination thereof. Prior to distribution, any dividend equivalents that are not paid shall be subject to the same conditions and restrictions as the Restricted Stock Units to which they attach.

&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;<u>Form and Timing of Payment</u>. Payment of earned Restricted Stock Units will be made as soon as practicable after the date(s) determined by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may only settle earned Restricted Stock Units in cash, Shares, or a combination of both. The actual number of Restricted Stock Units eligible for settlement may be larger or smaller than the number included in the original award, based on predetermined performance factors. Vested Restricted Stock Units shall be settled in such manner and at such time(s) as specified in the Award Agreement. Until Restricted Stock Units are settled, the number of Shares represented by such Restricted Stock Units shall be subject to adjustment pursuant to Section 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;(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Cancellation</u>. On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be forfeited to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions</u> <u>Upon</u> <u>Issuance</u> <u>of</u> <u>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;(a)&nbsp;&nbsp;&nbsp;&nbsp;If at any time the Administrator determines that the delivery of Shares pursuant to the exercise, purchase, vesting, settlement or any other provision of an Award is or may be unlawful under Applicable Laws, the vesting or right to exercise an Award or to otherwise receive Shares pursuant to the terms of an Award shall be suspended until the Administrator determines that such delivery is lawful and shall be further subject to the approval of counsel for the Company with respect to such compliance. The Company shall have no obligation to effect any registration or qualification of the Shares under federal or state 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;As a condition to the receipt of any shares subject to an Award, the Company may require the Participant to represent and warrant at such time that the Shares are being acquired only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required by any Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustments Upon Changes in Capitalization</u>. Subject to any required action by the stockholders of the Company and Section 13 below, the number of Shares covered by each outstanding Award, and the number of Shares which have been authorized for issuance under the Plan but as to which no Awards have yet been granted or which have been returned to the Plan, the exercise price of each such outstanding Award, any repurchase price that applies to Shares pursuant to the terms of a Company repurchase right under an Award Agreement, as well as any other terms that the Administrator determines require adjustment shall be proportionately adjusted for: (i) any increase or decrease in the number of issued Shares resulting from a stock split, reverse stock split, stock dividend, recapitalization, combination or reclassification of the Shares, or similar transaction affecting the Shares; (ii) any other increase or decrease in the number of issued Shares effected without receipt of consideration by the Company; or (iii) any other transaction with respect to Common Stock including a corporate merger, consolidation, acquisition of property or stock, separation (including a spin-off or other distribution of stock or property), reorganization,

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liquidation (whether partial or complete) or any similar transaction; provided, however that conversion of any convertible securities of the Company shall not be deemed to have been "effected without receipt of consideration." In the event of any distribution of cash or other assets to stockholders other than a normal cash dividend, the Administrator shall also, make such adjustments described as provided in this Section 12 or substitute, exchange or grant Awards to effect such adjustments (collectively "adjustments"). Any such adjustments to outstanding Awards will be effected in a manner that precludes the enlargement of rights and benefits under such Awards. In connection with the foregoing adjustments, the Administrator may, in its discretion, prohibit the exercise of Options or other issuance of Shares, cash or other consideration pursuant to Awards during certain periods of time. Except as the Administrator determines, no issuance by the Company of shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment by reason hereof shall be made with respect to, the number or price of Shares subject to an Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp;<u>Corporate</u> <u>Transactions</u> <u>and</u> <u>Changes</u> <u>in</u> <u>Control</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;In the event of a Corporate Transaction or Change in Control, each outstanding Award will be treated as the Administrator determines in its discretion (subject to the provisions of the following paragraph) without a Grantee's consent, including, without limitation, that (i) Awards will be Assumed (as defined below), or substantially equivalent Awards will be substituted, by the acquiring or succeeding entity (or an affiliate thereof) with appropriate adjustments as to the number and kind of shares, exercise prices, and purchase prices; (ii) upon written notice to a Participant, that the Award will terminate upon or immediately prior to the consummation of such Corporate Transaction or Change in Control; (iii) outstanding Awards will vest and become exercisable, realizable, payable, settled, or restrictions applicable to an Award will lapse, in whole or in part prior to or upon consummation of such Corporate Transaction or Change in Control, and, to the extent the Administrator determines, terminate upon or immediately prior to the effectiveness of such Corporation Transaction or Change in Control; (iv) (A) the termination of an Award in exchange for an amount of cash and/or property, if any, equal to the amount that would have been attained upon the exercise of such Award or realization or settlement of the Grantee's rights as of the date of the occurrence of the transaction (and, for the avoidance of doubt, if as of the date of the occurrence of the transaction the Administrator determines in good faith that no amount would have been attained upon the exercise of such Award or realization of the Grantee's rights, then such Award may be terminated by the Company without payment), or (B) the replacement of such Award with other rights or property selected by the Administrator in its sole discretion; or (v) any combination or none of the foregoing. In taking any of the actions permitted under this Section 13, the Administrator will not be obligated to treat all Awards, all Awards held by a Grantee, or all Awards of the same type, similarly.

&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 as provided otherwise in an Award Agreement, in the event that the successor entity does not Assume or substitute for the Award (or portion thereof), the Grantee will fully vest in and have the right to exercise all of his or her outstanding Options, including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will lapse, and, with respect to Awards with performance-based vesting, all performance goals or other vesting criteria will be deemed achieved

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at 100% of target levels and all other terms and conditions met. In addition, if an Option is not assumed or substituted in the event of a Corporate Transaction or Change in Control, the Administrator will notify the Grantee in writing or electronically that the Option will be exercisable for a period of time determined by the Administrator in its sole discretion, and the Option will terminate upon the expiration of such 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;For the purposes of this Section 13, an Award will be considered "Assumed" if, following the Corporate Transaction or Change in Control, the Award confers the right to purchase or receive, for each Share subject to the Award immediately prior to the Corporate Transaction or Change in Control, the consideration (whether stock, cash, or other securities or property) received in the Corporate Transaction or Change in Control by holders of Common Stock 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); provided, however, if such consideration received in the Corporate Transaction or Change in Control is not solely common stock of the successor entity or its Parent, the Administrator may, with the consent of the successor entity, provide for the consideration to be received upon the exercise of an Option or upon the payout of a Restricted Stock Unit, for each Share subject to such Award, to be solely common stock of the successor entity or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the Corporate Transaction or Change in 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in this Section 13 to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more performance goals will not be considered Assumed if the Company or its successor modifies any of such performance goals without the Grantee's consent; provided, however, a modification to such performance goals only to reflect the successor entity's post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption.

&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;Notwithstanding anything in this Section 13 to the contrary, if a payment under an Award Agreement is subject to Code Section 409A and if the change in control definition contained in the Award Agreement does not comply with the definition of "change of control" for purposes of a distribution under Code Section 409A, then any payment of an amount that is otherwise accelerated under this Section will be delayed until the earliest time that such payment would be permissible under Code Section 409A without triggering any penalties applicable under Code Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;&nbsp;&nbsp;&nbsp;<u>Repurchase</u> <u>Rights</u>. If the provisions of an Award Agreement grant to the Company the right to repurchase Shares upon termination of the Grantee's Continuous Service, the Award Agreement shall (or may, with respect to Awards granted or issued to Officers, Directors or Consultants) provide that the right to repurchase must be exercised, if at all, within twelve (12) months of the termination of the Grantee's Continuous Service. In addition, the right to repurchase Shares, other than a right to repurchase under which Shares may be repurchased at the original purchase price, shall terminate on the Registration Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.&nbsp;&nbsp;&nbsp;&nbsp;<u>Effective</u> <u>Date</u> <u>and</u> <u>Term</u> <u>of</u> <u>Plan</u>. The Plan shall become effective upon the earlier to occur of its adoption by the Board or its approval by the stockholders of the Company. It shall

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continue in effect for a term of ten (10) years unless sooner terminated. Subject to Section 20 below, and Applicable Laws, Awards may be granted under the Plan upon it becoming effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment,</u> <u>Suspension</u> <u>or</u> <u>Termination</u> <u>of</u> <u>the</u> <u>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;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Board may at any time amend, suspend or terminate the Plan; provided, however, that any amendment to the Plan to provide for Awards other than Options must be approved by the founders of the Company who own Common Stock at the time of such amendment. To the extent necessary to comply with Applicable Laws, the Company shall obtain stockholder approval of any Plan amendment in such a manner and to such a degree as 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;No Award may be granted during any suspension of the Plan or after termination of 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;No suspension or termination of the Plan (including termination of the Plan under Section 15 above) shall adversely affect any rights under Awards already granted to a Grantee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.&nbsp;&nbsp;&nbsp;&nbsp;<u>Reservation</u> <u>of</u> <u>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;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Company, during the term of the Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to satisfy the requirements of 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 inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company's counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Effect on Terms of Employment/Consulting Relationship</u>. The Plan shall not confer upon any Grantee any right with respect to the Grantee's Continuous Service, nor shall it interfere in any way with his or her right or the right of the Company or a Related Entity to terminate the Grantee's Continuous Service at any time, with or without Cause, and with or without notice. The ability of the Company or any Related Entity to terminate the employment of a Grantee who is employed at will is in no way affected by its determination that the Grantee's Continuous Service has been terminated for Cause for the purposes of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Effect on Retirement and Other Benefit Plans</u>. Except as specifically provided in a retirement or other benefit plan of the Company or a Related Entity, Awards shall not be deemed compensation for purposes of computing benefits or contributions under any retirement plan of the Company or a Related Entity, and shall not affect any benefits under any other benefit plan of any kind or any benefit plan subsequently instituted under which the availability or amount of benefits is related to level of compensation. The Plan is not a "Pension Plan" or "Welfare Plan" under the Employee Retirement Income Security Act of 1974, as amended.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.&nbsp;&nbsp;&nbsp;&nbsp;<u>Stockholder Approval</u>. Continuance of the Plan shall be subject to approval by the stockholders of the Company within twelve (12) months before or after the date the Plan is adopted. Such stockholder approval shall be obtained in the degree and manner required under Applicable Laws. Any Award exercised before stockholder approval is obtained shall be rescinded if stockholder approval is not obtained within the time prescribed, and Shares issued on the exercise of any such Award shall not be counted in determining whether stockholder approval is obtained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.&nbsp;&nbsp;&nbsp;&nbsp;<u>Unfunded</u> <u>Obligation</u>. Grantees shall have the status of general unsecured creditors of the Company. Any amounts payable to Grantees pursuant to the Plan shall be unfunded and unsecured obligations for all purposes, including, without limitation, Title I of the Employee Retirement Income Security Act of 1974, as amended. Neither the Company nor any Related Entity shall be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall retain at all times beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust or any Grantee account shall not create or constitute a trust or fiduciary relationship between the Administrator, the Company or any Related Entity and a Grantee, or otherwise create any vested or beneficial interest in any Grantee or the Grantee's creditors in any assets of the Company or a Related Entity. The Grantees shall have no claim against the Company or any Related Entity for any changes in the value of any assets that may be invested or reinvested by the Company with respect to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.&nbsp;&nbsp;&nbsp;&nbsp;<u>Construction</u>. Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of the Plan. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular. Use of the term "or" is not intended to be exclusive, unless the context clearly requires otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.&nbsp;&nbsp;&nbsp;&nbsp;<u>Nonexclusivity of the Plan</u>. Neither the adoption of the Plan by the Board, the submission of the Plan to the stockholders of the Company for approval, nor any provision of the 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 Awards otherwise than under the Plan, and such arrangements may be either generally applicable or applicable only in specific cases.

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**Amendment to Neutron Holdings 2017 Stock Incentive Plan**

Neutron Holdings 2017 Stock Incentive Plan, pursuant to Section 16 thereof, is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;Section 3 of the Plan be and hereby is amended by increasing the maximum number of shares of Common Stock, reserved under the Plan for Awards (as defined in the Plan) from 3,185,130 shares to 4,209,275 shares.

Date Amended:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 6, 2017

**Amendment to Neutron Holdings 2017 Stock Incentive Plan**

Neutron Holdings 2017 Stock Incentive Plan, pursuant to Section 16 thereof, is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;Section 3 of the Plan be and hereby is amended by increasing the maximum number of shares of Common Stock, reserved under the Plan for Awards (as defined in the Plan) from 420,927,500\* shares to 712,278,013 shares.

\*Reflects 100-for-1 forward stock split on March 29, 2018

Date Amended:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; July 3, 2018

**Amendment to Neutron Holdings 2017 Stock Incentive Plan**

Neutron Holdings 2017 Stock Incentive Plan, pursuant to Section 16 thereof, is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;Section 3 of the Plan be and hereby is amended by increasing the maximum number of shares of Common Stock, reserved under the Plan for Awards (as defined in the Plan) from 712,278,013 shares to 925,940,013 shares.

Date Amended:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; October 29, 2018

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**Amendment to Neutron Holdings 2017 Stock Incentive Plan**

Neutron Holdings 2017 Stock Incentive Plan, pursuant to Section 16 thereof, is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;Section 3 of the Plan be and hereby is amended by increasing the maximum number of shares of Common Stock, reserved under the Plan for Awards (as defined in the Plan) from 925,940,013 shares to 1,125,940,013 shares.

Date Amended:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; November 21, 2018

**Amendment to Neutron Holdings 2017 Stock Incentive Plan**

Neutron Holdings 2017 Stock Incentive Plan, pursuant to Section 16 thereof, is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;Section 3 of the Plan be and hereby is amended by increasing the maximum number of shares of Common Stock, reserved under the Plan for Awards (as defined in the Plan) from 1,125,940,013 shares to 1,644,435,932 shares.

Date Amended:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; January 24, 2019

**Restatement of Neutron Holdings 2017 Stock Incentive Plan**

Neutron Holdings 2017 Stock Incentive Plan, pursuant to Section 16 thereof, is hereby restated to remove various inoperative and inapplicable provisions.

Date Restated: February 27, 2019

**Amendment to Neutron Holdings 2017 Stock Incentive Plan**

Neutron Holdings 2017 Stock Incentive Plan, pursuant to Section 16 thereof, is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;The Plan was amended to permit the grant of Restricted Stock and Restricted Stock Units.

Date Amended:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; November 26, 2019

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**Amendment to Neutron Holdings 2017 Stock Incentive Plan**

Neutron Holdings 2017 Stock Incentive Plan, pursuant to Section 16 thereof, is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;Section 3 of the Plan be and hereby is amended by increasing the maximum number of shares of Common Stock, reserved under the Plan for Awards (as defined in the Plan) from 1,644,435,932 shares to 4,387,649,107 shares.

Date Amended:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; May 6, 2020

**Amendment to Neutron Holdings 2017 Stock Incentive Plan**

Neutron Holdings 2017 Stock Incentive Plan, pursuant to Section 16 thereof, is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;Section 3 of the Plan be and hereby is amended by increasing the maximum number of shares of Common Stock, reserved under the Plan for Awards (as defined in the Plan) from 4,387,649,107 shares to 5,111,090,530 shares.

Date Amended:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; February 10, 2021

**Amendment to Neutron Holdings 2017 Stock Incentive Plan**

Neutron Holdings 2017 Stock Incentive Plan, pursuant to Section 16 thereof, is hereby amended as follows:

shares of Common Stock, reserved under the Plan for Awards (as defined in the Plan) from 5,111,090,530 shares to 6,111,090,530 shares.

Date Amended:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; February 10, 2022

**Amendment to Neutron Holdings 2017 Stock Incentive Plan**

Neutron Holdings 2017 Stock Incentive Plan, pursuant to Section 16 thereof, is hereby amended as follows:

shares of Common Stock, reserved under the Plan for Awards (as defined in the Plan) from 6,111,090,530 shares to 7,164,990,530 shares.

Date Amended:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 17, 2022

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**Amendment to Neutron Holdings 2017 Stock Incentive Plan**

Neutron Holdings 2017 Stock Incentive Plan, pursuant to Section 16 thereof, is hereby amended as follows:

shares of Common Stock, reserved under the Plan for Awards (as defined in the Plan) from 7,164,990,530 shares to 8,439,990,530 shares.

Date Amended:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 23, 2024

**Amendment to Neutron Holdings 2017 Stock Incentive Plan**

Neutron Holdings 2017 Stock Incentive Plan, pursuant to Section 16 thereof, is hereby amended as follows:

shares of Common Stock, reserved under the Plan for Awards (as defined in the Plan) from 8,439,990,530 shares to 9,639,990,530 shares.

Date Amended:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 24, 2025

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**APPENDIX A** 

**NEUTRON HOLDINGS, INC.**

**2017 STOCK INCENTIVE PLAN CALIFORNIA RIDER**

**(For California Residents Only)**

This Appendix to the Neutron Holdings, Inc. 2017 Stock Incentive Plan (the "<u>Plan</u>") shall have application only to Grantees who are residents of the State of California. Capitalized terms contained herein shall have the same meanings given to them in the Plan, unless otherwise provided in this Appendix. **Notwithstanding any provision contained in the Plan to the contrary and to the extent required by applicable law, the following terms and conditions shall apply to all Awards granted to residents of the State of California, until such time as the Common Stock becomes a** "**listed security**" **under the Securities Act:**

<u>Section</u> <u>1.</u>&nbsp;&nbsp;&nbsp;&nbsp;Awards shall be nontransferable other than by will or the laws of descent and distribution. Notwithstanding the foregoing, and to the extent permitted by Section 422 of the Code, the Administrator, in its discretion, may permit distribution of an Option to an *inter vivos* or testamentary trust in which the Option is to be passed to beneficiaries upon the death of the trustor (settlor), or by gift to "immediate family" as that term is defined in Rule 16a-1(e) of the Exchange Act.

<u>Section</u> <u>2.</u>&nbsp;&nbsp;&nbsp;&nbsp;No Award may be granted to a resident of California more than ten (10) years after the earlier of the date of adoption of the Plan and the date the Plan is approved by the stockholders.

<u>Section</u> <u>3.</u>&nbsp;&nbsp;&nbsp;&nbsp;Any Award exercised by a person in California before stockholder approval is obtained shall be rescinded if stockholder approval is not obtained by the later of:

&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;within twelve (12) months before or after the Plan is adopted;

&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;prior to or within twelve (12) months of the granting of any Award or issuance of any share under the Plan in California; 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;but in no event later than the remaining term of the Award. Such shares shall not be counted in determining whether such approval is obtained.

<u>Section</u> <u>4.</u>&nbsp;&nbsp;&nbsp;&nbsp;The Company shall provide annual financial statements of the Company to each California resident holding an outstanding Award under the Plan. Such financial statements need not be audited and need not be issued to key employees whose duties at the Company assure them access to equivalent information. This Section 4 shall not apply provided the Plan complies with all conditions of Rule 701 of the Securities Act of 1933, as amended; *provided*, that for purposes of determining such compliance, any registered domestic partner shall be considered a "family member" in addition to the manner in which that term is defined in Rule 701.

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**NEUTRON HOLDINGS, INC.** 

**2017 STOCK INCENTIVE PLAN** 

**<u>EXERCISE NOTICE</u>**

Neutron Holdings, Inc.

85 2<sup>nd</sup> Street, Suite 100

San Francisco, CA 94105

Attention: Corporate Secretary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise</u> <u>of</u> <u>Option</u>. Effective as of today,, the undersigned (the "<u>Grantee</u>") hereby elects to exercise the Grantee's option (the "<u>Option</u>") to purchase shares of the Common Stock (the "<u>Shares</u>") of Neutron Holdings, Inc. (the "<u>Company</u>") under and pursuant to the Company's 2017 Stock Incentive Plan, as amended from time to time (the "<u>Plan</u>") and the Notice of Stock Option Award dated (the "<u>Notice</u>") and Stock Option Award Agreement (the "<u>Option</u> <u>Agreement</u>"). Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Exercise Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations of the Grantee</u>. The Grantee acknowledges that the Grantee has received, read and understood the Notice, the Plan and the Option Agreement and agrees to abide by and be bound by their terms and conditions and the terms and conditions of this Exercise Notice. As a condition of exercising the Option, the Grantee hereby represents and warrants 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 Shares are being acquired for investment purposes only for the Grantee's own account, not as a nominee or agent, and not with a view to the resale or distribution of all or any part of the Shares. The Grantee is prepared to hold the Shares for an indefinite period and has no present intention of selling, granting any participating interest in, or otherwise distributing any of the Shares. The Grantee does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer, or grant a participating interest in, any 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Grantee understands that the Shares will not be registered or qualified under applicable U.S. federal, state or foreign securities laws on the ground that the sale provided for in this Exercise Notice is exempt from registration or qualification under applicable U.S. federal, state or foreign securities laws and that the Company's reliance on such exemption is predicated on the Grantee's representations set forth 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Grantee understands that if the Company does not register with the U.S. Securities and Exchange Commission pursuant to Section 12 of the Exchange Act, or if a registration statement covering the Shares (or a filing pursuant to the exemption from registration under Regulation A of the Securities Act) under the Securities Act is not in effect when the Grantee desires to sell the Shares, the Grantee may be required to hold the Shares indefinitely. The Grantee also acknowledges that the Grantee understands that any sale of the Shares which might be made by the Grantee in reliance upon Rule 144 under the Securities Act may be made only in limited amounts in accordance with the terms and conditions of such rule.

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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;The Grantee agrees to become a party to, be fully bound by, and subject to and comply with the provisions of that certain Call Option Agreement dated as of May 7, 2020, a copy of which will be provided in connection with this exercise, by executing Exhibit A thereto in connection with this exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights as Stockholder</u>. Until the stock certificate evidencing such Shares is issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the Shares subject to the Option, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such stock certificate promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 10 of the Plan.

The Grantee shall enjoy rights as a stockholder until such time as the Grantee disposes of the Shares or the Company and/or its assignee(s) exercises the Right of First Refusal. Upon such exercise, the Grantee shall have no further rights as a holder of the Shares so purchased except the right to receive payment for the Shares so purchased in accordance with the provisions of the Option Agreement, and the Grantee shall forthwith cause the certificate(s) evidencing the Shares so purchased to be surrendered to the Company for transfer or cancellation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Delivery</u> <u>of</u> <u>Payment</u>. The Grantee herewith delivers to the Company the full Exercise Price for the Shares, which, shall be satisfied by a method provided in Section 4 of the Option Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictions on Listing</u>. The Grantee hereby agrees to be bound by all restrictions relating to the listing of the Shares on any secondary market, share marketplace, trading platform, bulletin board, quotation system, or the like, without the prior written consent of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictions</u> <u>on</u> <u>Disposition</u> <u>of</u> <u>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;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Grantee agrees that in no event shall the Grantee make a disposition of any of the Shares, unless and until (i) the Grantee shall have notified the Company of the proposed disposition and shall have furnished the Company with a statement of the circumstances surrounding the proposed disposition and (ii) the Grantee shall have furnished the Company with an opinion of counsel satisfactory to the Company to the effect that (A) such disposition will not require registration or qualification of such Shares under applicable U.S. federal, state or foreign securities laws or (B) appropriate action necessary for compliance with the applicable U.S. federal, state or foreign securities laws has been taken or (iii) the Company shall have waived, expressly and in writing, its rights under clauses (i) and (ii) 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Grantee may not transfer, assign, encumber or otherwise dispose of any Shares without the written consent of a duly authorized officer of the Company. Such approval will only be given in extremely limited, special circumstances. To request such approval, the Grantee must email [\*\*\*]@li.me with the subject line "<u>Stock</u> <u>Transfer</u> <u>Request.</u>" As a condition of any such transfer, each transferee must agree in writing on a form prescribed by the Company to be bound by all of the restrictions imposed on the Shares to the same extent as they apply to the

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Grantee. All approved transfers are subject to a US$5,000 transfer fee payable by the Grantee to reimburse the Company for the Company's related legal expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>. The Grantee agrees to satisfy all other applicable federal, state and local income and employment tax withholding obligations and herewith delivers to the Company the full amount of such obligations or has made arrangements acceptable to the Company to satisfy such obligations. In the case of an Incentive Stock Option, the Grantee also agrees, as partial consideration for the designation of the Option as an Incentive Stock Option, to notify the Company in writing within thirty (30) days of any disposition of any shares acquired by exercise of the Option if such disposition occurs within two (2) years from the Grant Date or within one (1) year from the date the Shares were transferred to the Grantee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictive</u> <u>Legends</u> <u>and</u> <u>Stop-Transfer</u> <u>Orders</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>Legends</u>. The Grantee 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 together with any other legends that may be required by the Company or by state or federal securities laws:

THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "<u>ACT</u>") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE THEREWITH.

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND A RIGHT OF FIRST REFUSAL HELD BY THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE OPTION AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES. THE TRANSFER RESTRICTIONS SET FORTH IN SUCH OPTION AGREEMENT PROVIDE THAT, AMONG OTHER THINGS, (A) THE SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS OF SUCH OPTION AGREEMENT, (B) THAT THE COMPANY SHALL NOT REGISTER OR OTHERWISE RECOGNIZE OR GIVE EFFECT TO ANY PURPORTED TRANSFER OF SECURITIES THAT DOES NOT COMPLY WITH SUCH TRANSFER RESTRICTIONS, AND (C) THAT THE SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE LISTED ON ANY SECONDARY MARKET OR TRADING PLATFORM WITHOUT THE COMPANY'S PRIOR WRITTEN CONSENT. SUCH TRANSFER RESTRICTIONS AND RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES. THE SECRETARY OF THE COMPANY WILL UPON WRITTEN

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REQUEST FURNISH A COPY OF SUCH OPTION AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE.

THE SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE BYLAWS OF THE COMPANY, WHICH INCLUDE, AMONG OTHER THINGS, RESTRICTIONS ON TRANSFER. COPIES OF THE BYLAWS OF THE COMPANY MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER FOR A PERIOD OF TIME FOLLOWING THE EFFECTIVE DATE OF THE UNDERWRITTEN PUBLIC OFFERING OF THE COMPANY'S SECURITIES SET FORTH IN AN AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES AND MAY NOT BE SOLD OR OTHERWISE DISPOSED OF BY THE HOLDER PRIOR TO THE EXPIRATION OF SUCH PERIOD WITHOUT THE CONSENT OF THE COMPANY OR THE MANAGING UNDERWRITER.

&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>. The Grantee 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</u> <u>to</u> <u>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 Exercise Notice 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;9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns</u>. The Company may assign any of its rights under this Exercise Notice to single or multiple assignees, and this Exercise Notice shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Exercise Notice shall be binding upon the Grantee and his or her heirs, executors, administrators, successors and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;<u>Construction</u>. The captions used in this Exercise Notice are inserted for convenience and shall not be deemed a part of this agreement for construction or interpretation. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular. Use of the term "or" is not intended to be exclusive, unless the context clearly requires otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;<u>Administration</u> <u>and Interpretation</u>. The Grantee hereby agrees that any question or dispute regarding the administration or interpretation of this Exercise Notice shall be submitted by the Grantee or by the Company to the Administrator. The resolution of such a question or dispute by the Administrator shall be final and binding on all persons.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing</u> <u>Law;</u> <u>Severability</u>. This Exercise Notice is to be construed in accordance with and governed by the internal laws of the State of Delaware without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal laws of the State of Delaware to the rights and duties of the parties. Should any provision of this Exercise Notice be determined by a court of law to be illegal or unenforceable, such provision shall be enforced to the fullest extent allowed by law and the other provisions shall nevertheless remain effective and shall remain enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery, upon deposit for delivery by an internationally recognized express mail courier service or upon deposit in the United States mail by certified mail (if the parties are within the United States), with postage and fees prepaid, addressed to the other party at its address as shown below beneath its signature, or to such other address as such party may designate in writing from time to time to the other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;&nbsp;&nbsp;&nbsp;<u>Further Instruments</u>. The parties agree to execute such further instruments and to take such further action 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;15.&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire</u> <u>Agreement</u>. The Notice, the Plan and the Option Agreement are incorporated herein by reference and together with this Exercise Notice constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and the Grantee with respect to the subject matter hereof, and may not be modified adversely to the Grantee's interest except by means of a writing signed by the Company and the Grantee. Nothing in the Notice, the Plan, the Option Agreement and this Exercise Notice (except as expressly provided therein) is intended to confer any rights or remedies on any persons other than the parties.

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| | |
|:---|:---|
| Submitted by: | Accepted by: |
| GRANTEE | NEUTRON HOLDINGS, INC. |
| Signature | By |
| Print Name | Print Name |
| | Title |
| Address: | Address: |
| | Date Received |

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**NEUTRON HOLDINGS, INC.** 

**2017 STOCK INCENTIVE PLAN**

**<u>NOTICE</u> <u>OF</u> <u>STOCK</u> <u>OPTION</u> <u>AWARD</u>**

Grantee's Name and Address:&nbsp;&nbsp;&nbsp;&nbsp;**«Name»**

Address

City, State and Zip

You (the "<u>Grantee</u>") have been granted an option to purchase shares of **Common Stock**, subject to the terms and conditions of this Notice of Stock Option Award (the "<u>Notice</u>"), the Neutron Holdings, Inc. 2017 Stock Incentive Plan, as amended from time to time (the "<u>Plan</u>") and the Stock Option Award Agreement (the "<u>Option</u> <u>Agreement</u>") attached hereto, as follows. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Notice.

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| |
|:---|
| Award Number |
| Date of Award |
| Vesting Commencement Date |
| Exercise Price per Share |
| Total Number of Shares Subject to the Option (the "<u>Shares</u>") |
| Total Exercise Price |
| Type of Option: |
| Expiration Date: |
| Post-Termination Exercise Period: |

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<u>Vesting</u> <u>Schedule</u>:

Subject to the Grantee's Continuous Service and other limitations set forth in this Notice, the Plan and the Option Agreement, the Option may be exercised, in whole or part, in accordance with the following schedule:

According to Carta

During any authorized leave of absence, the vesting of the Shares shall be suspended after the leave of absence exceeds a period of ninety (90) days. Vesting of the Shares shall resume upon the Grantee's termination of the leave of absence and return to Continuous Service. The Vesting Schedule of the Shares shall be extended by the length of the suspension.

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In the event of termination of the Grantee's Continuous Service for Cause, the Grantee's right to exercise the Option shall terminate concurrently with the termination of the Grantee's Continuous Service, except as otherwise determined by the Administrator.

IN WITNESS WHEREOF, the Company and the Grantee have executed this Notice and agree that the Option is to be governed by the terms and conditions of this Notice, the Plan, and the Option Agreement.

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| |
|:---|
| NEUTRON HOLDINGS, INC.<br>a Delaware corporation |
| By: |
| Title: |

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THE GRANTEE ACKNOWLEDGES AND AGREES THAT THE SHARES SUBJECT TO THE OPTION SHALL VEST, IF AT ALL, ONLY DURING THE PERIOD OF THE GRANTEE'S CONTINUOUS SERVICE (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THE OPTION OR ACQUIRING SHARES HEREUNDER). THE GRANTEE FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS NOTICE, THE OPTION AGREEMENT, OR THE PLAN SHALL CONFER UPON THE GRANTEE ANY RIGHT WITH RESPECT TO FUTURE AWARDS OR CONTINUATION OF THE GRANTEE'S CONTINUOUS SERVICE, NOR SHALL IT INTERFERE IN ANY WAY WITH THE GRANTEE'S RIGHT OR THE RIGHT OF THE COMPANY OR RELATED ENTITY TO WHICH THE GRANTEE PROVIDES SERVICES TO TERMINATE THE GRANTEE'S CONTINUOUS SERVICE, WITH OR WITHOUT CAUSE, AND WITH OR WITHOUT NOTICE. THE GRANTEE ACKNOWLEDGES THAT UNLESS THE GRANTEE HAS A WRITTEN EMPLOYMENT AGREEMENT WITH THE COMPANY TO THE CONTRARY, THE GRANTEE'S STATUS IS AT WILL.

The Grantee acknowledges receipt of a copy of the Plan and the Option Agreement, and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts the Option subject to all of the terms and provisions hereof and thereof. The Grantee has reviewed this Notice, the Plan, and the Option Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Notice, and fully understands all provisions of this Notice, the Plan and the Option Agreement. The Grantee hereby agrees that all questions of interpretation and administration relating to this Notice, the Plan and the Option Agreement shall be resolved by the Administrator in accordance with Section 23 of the Option Agreement. The Grantee further agrees to the venue selection in accordance with Section 24 of the Option Agreement. The Grantee further agrees to notify the Company upon any change in the residence address indicated in this Notice.

Dated: Signed: <br> « » Grantee

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**AWARD NUMBER: « »**

**NEUTRON HOLDINGS, INC.** 

**2017 STOCK INCENTIVE PLAN**

**<u>STOCK</u> <u>OPTION</u> <u>AWARD</u> <u>AGREEMENT</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Grant</u> <u>of</u> <u>Option</u>. Neutron Holdings, Inc., a Delaware corporation (the "<u>Company</u>"), hereby grants to the Grantee (the "<u>Grantee</u>") named in the Notice of Stock Option Award (the "<u>Notice</u>"), an option (the "<u>Option</u>") to purchase the Total Number of Shares of Common Stock subject to the Option (the "<u>Shares</u>") set forth in the Notice, at the Exercise Price per Share set forth in the Notice (the "<u>Exercise Price</u>") subject to the terms and provisions of the Notice, this Stock Option Award Agreement (the "<u>Option Agreement</u>") and the Company's 2017 Stock Incentive Plan, as amended from time to time (the "<u>Plan</u>"), which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Option Agreement.

If designated in the Notice as an Incentive Stock Option, the Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code. However, notwithstanding such designation, the Option will qualify as an Incentive Stock Option under the Code only to the extent the $100,000 limitation of Section 422(d) of the Code is not exceeded. The $100,000 limitation of Section 422(d) of the Code is calculated based on the aggregate Fair Market Value of the Shares subject to options designated as Incentive Stock Options which become exercisable for the first time by the Grantee during any calendar year (under all plans of the Company or any Parent or Subsidiary of the Company). For purposes of this calculation, Incentive Stock Options shall be taken into account in the order in which they were granted, and the Fair Market Value of the shares subject to such options shall be determined as of the grant date of the relevant option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise</u> <u>of</u> <u>Option</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>Right to Exercise</u>. The Option shall be exercisable during its term in accordance with the Vesting Schedule set out in the Notice and with the applicable provisions of the Plan and this Option Agreement. Unless otherwise provided in this Agreement, the Option shall be subject to the provisions of Section 11 of the Plan relating to the exercisability or termination of the Option in the event of a Corporate Transaction or Change in Control and otherwise may not be exercised with respect any portion of the Option that has not vested in accordance with the Vesting Schedule set forth in the Notice. The Grantee shall be subject to reasonable limitations on the number of requested exercises during any monthly or weekly period as determined by the Administrator. In no event shall the Company issue fractional 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>Method of Exercise</u>. The Option shall be exercisable by delivery of an exercise notice (a form of which is attached as <u>Exhibit</u> <u>A)</u> or by such other procedure as specified from time to time by the Administrator which shall state the election to exercise the Option, the whole number of Shares in respect of which the Option is being exercised, and such other provisions as may be required by the Administrator. The exercise notice shall be delivered in person, by certified mail, or by such other method (including electronic transmission) as

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determined from time to time by the Administrator to the Company accompanied by payment of the Exercise Price and all applicable income and employment taxes required to be withheld. The Option shall be deemed to be exercised upon receipt by the Company of such notice accompanied by the Exercise Price and all applicable withholding taxes, which, to the extent selected, shall be deemed to be satisfied by use of the broker-dealer sale and remittance procedure to pay the Exercise Price provided in Section 4(d), below, to the extent such procedure is available to the Grantee at the time of exercise and such an exercise would not violate any Applicable 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>. No Shares will be delivered to the Grantee or other person pursuant to the exercise of the Option until the Grantee or other person has made arrangements acceptable to the Administrator for the satisfaction of applicable income tax and employment tax withholding obligations, including, without limitation, such other tax obligations of the Grantee incident to the receipt of Shares. Upon exercise of the Option, the Company or the Grantee's employer may offset or withhold (from any amount owed by the Company or the Grantee's employer to the Grantee) or collect from the Grantee or other person an amount sufficient to satisfy such tax withholding obligations. Furthermore, in the event of any determination that the Company has failed to withhold a sum sufficient to pay all withholding taxes due in connection with the Option, the Grantee agrees to pay the Company the amount of such deficiency in cash within five (5) days after receiving a written demand from the Company to do so, whether or not the Grantee is an employee of the Company at that time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Grantee's</u> <u>Representations</u>. The Grantee understands that neither the Option nor the Shares exercisable pursuant to the Option have been registered under the Securities Act of 1933, as amended or any United States securities laws. In the event the Shares purchasable pursuant to the exercise of the Option have not been registered under the Securities Act of 1933, as amended, at the time the Option is exercised, the Grantee shall, if requested by the Company, concurrently with the exercise of all or any portion of the Option, deliver to the Company his or her Investment Representation Statement in the form attached hereto as <u>Exhibit B</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Method of Payment</u>. Payment of the Exercise Price shall be made by any of the following, or a combination thereof, at the election of the Grantee; provided, however, that such exercise method does not then violate any Applicable 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;cash;

&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;check;

&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 exercise occurs on or after the Registration Date, surrender of Shares held for the requisite period, if any, necessary to avoid a charge to the Company's earnings for financial reporting purposes, or delivery of a properly executed form of attestation of ownership of Shares as the Administrator may require which have a Fair Market Value on the date of surrender or attestation equal to the aggregate Exercise Price of the Shares as to which the Option is being exercised; 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;if the exercise occurs on or after the Registration Date, payment through a broker-dealer sale and remittance procedure pursuant to which the Grantee (i) shall provide written

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instructions to a Company-designated brokerage firm to effect the immediate sale of some or all of the purchased Shares and remit to the Company sufficient funds to cover the aggregate exercise price payable for the purchased Shares and (ii) shall provide written directives to the Company to deliver the certificates for the purchased Shares directly to such brokerage firm in order to complete the sale transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictions on Exercise</u>. The Option may not be exercised if the issuance of the Shares subject to the Option upon such exercise would constitute a violation of any Applicable Laws. In addition, the Option may not be exercised until such time as the Plan has been approved by the shareholders of the Company. If the exercise of the Option within the applicable time periods set forth in Section 6, 7 and 8 of this Option Agreement is prevented by the provisions of this Section 5, the Option shall remain exercisable until one (1) month after the date the Grantee is notified by the Company that the Option is exercisable, but in any event no later than the Expiration Date set forth in the Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination or Change of Continuous Service</u>. In the event the Grantee's Continuous Service terminates, other than for Cause, the Grantee may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such termination (the "<u>Termination Date</u>"). The Post-Termination Exercise Period shall commence on the Termination Date. In the event of termination of the Grantee's Continuous Service for Cause, the Grantee's right to exercise the Option shall, except as otherwise determined by the Administrator, terminate concurrently with the termination of the Grantee's Continuous Service (also the "<u>Termination Date</u>"). In no event, however, shall the Option be exercised later than the Expiration Date set forth in the Notice. In the event of the Grantee's change in status from Employee, Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and the Option shall continue to vest in accordance with the Vesting Schedule set forth in the Notice consistent with any minimum vesting requirements set forth in the Plan; provided, however, with respect to any Incentive Stock Option that shall remain in effect after a change in status from Employee to Director or Consultant, such Incentive Stock Option shall cease to be treated as an Incentive Stock Option and shall be treated as a Non-Qualified Stock Option on the day three (3) months and one (1) day following such change in status. Except as provided in Sections 7 and 8 below, to the extent that the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Disability</u> <u>of</u> <u>Grantee</u>. In the event the Grantee's Continuous Service terminates as a result of his or her Disability, the Grantee may, but only within twelve (12) months commencing on the Termination Date (but in no event later than the Expiration Date), exercise the portion of the Option that was vested on the Termination Date; provided, however, that if such Disability is not a "disability" as such term is defined in Section 22(e)(3) of the Code and the Option is an Incentive Stock Option, such Incentive Stock Option shall cease to be treated as an Incentive Stock Option and shall be treated as a Non-Qualified Stock Option on the day three (3) months and one (1) day following the Termination Date. To the extent that the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the time specified herein, the Option shall terminate. Section 22(e)(3) of the Code provides that an

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individual is permanently and totally disabled if he or she is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Death of Grantee</u>. In the event of the termination of the Grantee's Continuous Service as a result of his or her death, or in the event of the Grantee's death during the Post-Termination Exercise Period or during the twelve (12) month period following the Grantee's termination of Continuous Service as a result of his or her Disability, the person who acquired the right to exercise the Option pursuant to Section 9 may exercise the portion of the Option that was vested at the date of termination within twelve (12) months commencing on the date of death (but in no event later than the Expiration Date). To the extent that the Option was unvested on the date of death, or if the vested portion of the Option is not exercised within the time specified herein, the Option shall terminate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Transferability of Option</u>. The Option, if an Incentive Stock Option, may not be transferred in any manner other than by will or by the laws of descent and distribution and may be exercised during the lifetime of the Grantee only by the Grantee. The Option, if a Non-Qualified Stock Option, may not be transferred in any manner other than by will or by the laws of descent and distribution, provided, however, that a Non-Qualified Stock Option may be transferred during the lifetime of the Grantee by gift or pursuant to a domestic relations order to members of the Grantee's Immediate Family to the extent and in the manner determined by the Administrator. Notwithstanding the foregoing, the Grantee may designate one or more beneficiaries of the Grantee's Incentive Stock Option or Non-Qualified Stock Option in the event of the Grantee's death on a beneficiary designation form provided by the Administrator. Following the death of the Grantee, the Option, to the extent provided in Section 8, may be exercised (a) by the person or persons designated under the deceased Grantee's beneficiary designation or (b) in the absence of an effectively designated beneficiary, by the Grantee's legal representative or by any person empowered to do so under the deceased Grantee's will or under the then applicable laws of descent and distribution. The terms of the Option shall be binding upon the executors, administrators, heirs, successors and transferees of the Grantee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;<u>Term</u> <u>of</u> <u>Option</u>. The Option must be exercised no later than the Expiration Date set forth in the Notice or such earlier date as otherwise provided herein. After the Expiration Date or such earlier date, the Option shall be of no further force or effect and may not be exercised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;<u>Transfer Restrictions for Unvested Shares</u>. The Shares sold to the Grantee hereunder may not be sold, transferred by gift, pledged, hypothecated, or otherwise transferred or disposed of by the Grantee, except in accordance the Company's Right of First Refusal as set forth in Section 12. Any attempt to transfer Shares in violation of this Section 11 will be null and void and will be disregarded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;&nbsp;&nbsp;&nbsp;<u>Company's</u> <u>Right</u> <u>of</u> <u>First</u> <u>Refusal</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>Transfer Notice</u>. Neither the Grantee nor a transferee (either being sometimes referred to herein as the "<u>Holder</u>") shall sell, hypothecate, encumber or otherwise

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transfer any Shares or any right or interest therein without first complying with the provisions of this Section 12 or obtaining the prior written consent of the Company and provided further that such Shares are "<u>Mature</u> <u>Shares</u>" (which means that the Shares have been held by the Holder (and any successor Holder) for the requisite period, if any, necessary to avoid a charge to the Company's earnings for financial reporting purposes). In the event the Holder desires to accept a bona fide third-party offer for any or all of the Shares, the Holder shall provide the Company with written notice (the "<u>Transfer Notice</u>") of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 name of the proposed 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;The number of Shares to be transferred; 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;The proposed transfer price or value and terms thereof.

If the Holder proposes to transfer any Shares to more than one transferee, the Holder shall provide a separate Transfer Notice for the proposed transfer to each transferee. The Transfer Notice shall be signed by both the Holder and the proposed transferee and must constitute a binding commitment of the Holder and the proposed transferee for the transfer of the Shares to the proposed transferee subject to the terms and conditions of this Option 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;<u>Bona Fide Transfer</u>. If the Company determines that the information provided by the Holder in the Transfer Notice is insufficient to establish the bona fide nature of a proposed voluntary transfer, the Company shall give the Holder written notice of the Holder's failure to comply with the procedure described in this Section 12, and the Holder shall have no right to transfer the Shares without first complying with the procedure described in this Section 12. The Holder shall not be permitted to transfer the Shares if the proposed transfer is not bona fide.

&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>Right of First Refusal</u>. The Company shall have the right to purchase (the "<u>Right of First Refusal</u>") all or less than all, of the Shares which are described in the Transfer Notice (the "<u>Offered Shares</u>") in accordance with the applicable provisions of Article IX of the Company's Amended and Restated Bylaws (or any successor provision) (as in effect from time to time, the "<u>Bylaws</u>"), provided, however, that if the Offered Shares are not Mature Shares then the Option Period shall be extended by the number of days necessary for the Offered Shares to become Mature 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Assignment</u>. Whenever the Company shall have the right to purchase Shares under this Right of First Refusal, the Company may designate and assign one or more employees, officers, directors or shareholders of the Company or other persons or organizations, to exercise all or a part of the Company's 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination</u> <u>of</u> <u>Right</u> <u>of</u> <u>First</u> <u>Refusal</u>. The provisions of this Right of First Refusal shall terminate as to all Shares upon the Registration 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Shares</u> <u>or Substituted</u> <u>Securities</u>. In the event of any transaction described in Sections 10 or 11 of the Plan, any new, substituted or additional securities or other property which is by reason of any such transaction distributed with respect to the Shares shall be

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immediately subject to the Right of First Refusal, but only to the extent the Shares are at the time covered by such right.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictions</u> <u>on</u> <u>Disposition</u> <u>of</u> <u>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;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Holder shall not make a disposition of any of the Shares, unless and until (i) the Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a statement of the circumstances surrounding the proposed disposition and (ii) the Holder shall have furnished the Company with an opinion of counsel satisfactory to the Company to the effect that (A) such disposition will not require registration or qualification of such Shares under applicable U.S. federal, state or foreign securities laws or (B) appropriate action necessary for compliance with the applicable U.S. federal, state or foreign securities laws has been taken or (iii) the Company shall have waived, expressly and in writing, its rights under clauses (i) and (ii) of this Section 13.

&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 Holder may not sell, assign, transfer, pledge, encumber or in any manner dispose of ("<u>Transfer</u>") any Shares, whether voluntarily or by operation of law, or by gift or otherwise, other than by means of a "Permitted Transfer," as such term is defined in Article XII of the Bylaws (such restrictions, the "<u>Transfer</u> <u>Restrictions</u>"). If a proposed Transfer is a Permitted Transfer, or the Holder is seeking to have the Transfer deemed a Permitted Transfer by the Board of Directors of the Company (the "<u>Board</u>"), the Holder must email [\*\*\*]@li.me with the subject line "Stock Transfer Request" to request the Transfer, and, if applicable, that the Board approve the Transfer as a Permitted Transfer, such approval to be at the sole and absolute discretion of the Board. As a condition of any such Transfer, each transferee must agree in writing on a form prescribed by the Company to be bound by all of the restrictions imposed on the Shares to the same extent as they apply to the Holder. All approved transfers are subject to a US$5,000 transfer fee payable by the Holder to reimburse the Company for the Company's related legal expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictions on Listing</u>. The Shares may not be listed on any secondary market, share marketplace, trading platform, bulletin board, quotation system, or the like, without the prior written consent of the Company (the "<u>Listing Restrictions</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.&nbsp;&nbsp;&nbsp;&nbsp;<u>Escrow of Stock</u>. For purposes of facilitating the enforcement of the provisions of this Option Agreement, the Grantee agrees, immediately upon receipt of the certificate(s) for the Shares, to deliver such certificate(s), together with an Assignment Separate from Certificate in the form attached hereto as <u>Exhibit C,</u> executed in blank by the Grantee and the Grantee's spouse (if required for transfer) with respect to each such stock certificate, to the Secretary or Assistant Secretary of the Company, or their designee, to hold in escrow for so long as such Shares have not vested pursuant to the Vesting Schedule set forth in the Notice and are subject to the Company's Right of First Refusal, with the authority to take all such actions and to effectuate all such transfers and/or releases as may be necessary or appropriate to accomplish the objectives of this Option Agreement in accordance with the terms hereof. The Grantee hereby acknowledges that the appointment of the Secretary or Assistant Secretary of the Company (or their designee) as the escrow holder hereunder with the stated authorities is a material inducement to the Company to make this Option Agreement and that such appointment is coupled with an interest and is accordingly irrevocable. The Grantee agrees that the Restricted Shares may be held electronically

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in a book entry system maintained by the Company's transfer agent or other third-party and that all the terms and conditions of this Section 15 applicable to certificated Restricted Shares will apply with the same force and effect to such electronic method for holding the Restricted Shares. The Grantee agrees that such escrow holder shall not be liable to any party hereto (or to any other party) for any actions or omissions unless such escrow holder is grossly negligent relative thereto. The escrow holder may rely upon any letter, notice or other document executed by any signature purported to be genuine and may resign at any time. Subject to the provisions of any security agreement relating to Grantee's purchase of the Shares, upon the vesting of Shares and termination of the Company's Right of First Refusal, the escrow holder will, upon request, transmit to the Grantee the certificate evidencing such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Securities</u>. Any securities or cash received (other than a regular cash dividend) as the result of ownership of the Shares (the "<u>Additional</u> <u>Securities</u>"), including, but not by way of limitation, warrants, options and securities received as a stock dividend or stock split, or as a result of any transaction described in Section 10 or 11 of the Plan, shall be subject to the same conditions and restrictions as the Shares with respect to which they were issued, including, without limitation, the Vesting Schedule set forth in the Notice, the Right of First Refusal, Transfer Restrictions, Listing Restrictions, and retained in escrow in the same manner as the Shares with respect to which they relate. The Grantee shall be entitled to direct the Company to exercise any warrant or option received as Additional Securities upon supplying the funds necessary to do so, in which event the securities so purchased shall constitute Additional Securities, but the Grantee may not direct the Company to sell any such warrant or option. If Additional Securities consist of a convertible security, the Grantee may exercise any conversion right, and any securities so acquired shall constitute Additional Securities. In the event of any change in certificates evidencing the Shares or the Additional Securities by reason of any recapitalization, reorganization or other transaction that results in the creation of Additional Securities, the escrow holder is authorized to deliver to the issuer the certificates evidencing the Shares or the Additional Securities in exchange for the certificates of the replacement securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.&nbsp;&nbsp;&nbsp;&nbsp;<u>Stop-Transfer Notices</u>. In order to ensure compliance with the restrictions on transfer set forth in this Option Agreement, the Notice or the Plan, 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;18.&nbsp;&nbsp;&nbsp;&nbsp;<u>Refusal</u> <u>to</u> <u>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 Option 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;19.&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax</u> <u>Consequences</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;The Grantee may incur tax liability as a result of the Grantee's purchase or disposition of the Shares. THE GRANTEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THE OPTION OR DISPOSING OF THE 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the Company's good faith determination of the Fair Market Value of the Company's Common Stock for purposes of determining the Exercise Price Per Share of the Option as set forth in the Notice, the taxing authorities may assert that the Fair Market Value of the Common Stock on the Date of Award was greater than the Exercise Price Per Share. If designated in the Notice as an Incentive Stock Option, the Option may fail to qualify as an Incentive Stock Option if the Exercise Price Per Share of the Option is less than the Fair Market Value of the Common Stock on the Date of Award. In addition, under Section 409A of the Code, if the Exercise Price Per Share of the Option is less than the Fair Market Value of the Common Stock on the Date of Award, the Option may be treated as a form of deferred compensation and the Grantee may be subject to an acceleration of income recognition, an additional 20% tax, plus interest and possible penalties. In addition, the Company makes no representation that the Option will comply with Section 409A of the Code and makes no undertaking to prevent Section 409A of the Code from applying to the Option or to mitigate its effects on any deferrals or payments made in respect of the Option. The Grantee is encouraged to consult a tax adviser regarding the potential impact of Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.&nbsp;&nbsp;&nbsp;&nbsp;<u>Lock-Up</u> <u>Agreement</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>Agreement</u>. The Grantee, if requested by the Company and the lead underwriter of any public offering of the Common Stock (the "<u>Lead Underwriter</u>"), hereby irrevocably agrees not to sell, contract to sell, grant any option to purchase, transfer the economic risk of ownership in, make any short sale of, pledge or otherwise transfer or dispose of any interest in any Common Stock or any securities convertible into or exchangeable or exercisable for or any other rights to purchase or acquire Common Stock (except Common Stock included in such public offering or acquired on the public market after such offering) during the 200-day period following the effective date of a registration statement of the Company filed under the Securities Act of 1933, as amended, or such shorter or longer period of time as the Lead Underwriter shall specify. The Grantee further agrees to sign such documents as may be requested by the Lead Underwriter to effect the foregoing and agrees that the Company may impose stop-transfer instructions with respect to such Common Stock subject to the lock-up period until the end of such period. The Company and the Grantee acknowledge that each Lead Underwriter of a public offering of the Company's stock, during the period of such offering and for the lock-up period thereafter, is an intended beneficiary of this Section 20.

&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>No Amendment Without Consent of Underwriter</u>. During the period from identification of a Lead Underwriter in connection with any public offering of the Company's Common Stock until the earlier of (i) the expiration of the lock-up period specified in Section 20(a) in connection with such offering or (ii) the abandonment of such offering by the Company and the Lead Underwriter, the provisions of this Section 20 may not be amended or waived except with the consent of the Lead Underwriter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement: Governing Law</u>. The Notice, the Plan and this Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and the Grantee with respect to the subject matter hereof, and may not be modified adversely to the

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Grantee's interest except by means of a writing signed by the Company and the Grantee. Nothing in the Notice, the Plan and this Option Agreement (except as expressly provided therein) is intended to confer any rights or remedies on any persons other than the parties. The Notice, the Plan and this Option Agreement are to be construed in accordance with and governed by the internal laws of the State of Delaware without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal laws of the State of Delaware to the rights and duties of the parties. Should any provision of the Notice, the Plan or this Option Agreement be determined to be illegal or unenforceable, such provision shall be enforced to the fullest extent allowed by law and the other provisions shall nevertheless remain effective and shall remain enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.&nbsp;&nbsp;&nbsp;&nbsp;<u>Construction</u>. The captions used in the Notice and this Option Agreement are inserted for convenience and shall not be deemed a part of the Option for construction or interpretation. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular. Use of the term "or" is not intended to be exclusive, unless the context clearly requires otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.&nbsp;&nbsp;&nbsp;&nbsp;<u>Administration and Interpretation</u>. Any question or dispute regarding the administration or interpretation of the Notice, the Plan or this Option Agreement shall be submitted by the Grantee or by the Company to the Administrator. The resolution of such question or dispute by the Administrator shall be final and binding on all persons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.&nbsp;&nbsp;&nbsp;&nbsp;<u>Venue</u>. The Company, the Grantee, and the Grantee's assignees pursuant to Section 9 (the "<u>parties</u>") agree that any suit, action, or proceeding arising out of or relating to the Notice, the Plan or this Option Agreement shall be brought in the United States District Court for the Northern District of California (or should such court lack jurisdiction to hear such action, suit or proceeding, in a California state court in the County of San Francisco) and that the parties shall submit to the jurisdiction of such court. The parties irrevocably waive, to the fullest extent permitted by law, any objection the party may have to the laying of venue for any such suit, action or proceeding brought in such court. If any one or more provisions of this Section 24 shall for any reason be held invalid or unenforceable, it is the specific intent of the parties that such provisions shall be modified to the minimum extent necessary to make it or its application valid and enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery, upon deposit for delivery by an internationally recognized express mail courier service or upon deposit in the United States mail by certified mail (if the parties are within the United States), with postage and fees prepaid, addressed to the other party at its address as shown in these instruments, or to such other address as such party may designate in writing from time to time to the other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidentiality</u>. To the extent required by Applicable Law, the Company shall provide to the Grantee, during the period the Option is outstanding, copies of financial statements of the Company at least annually. The Grantee understands and agrees that such financial statements are confidential and shall not be disclosed by the Grantee, to any entity or person, for any reason, at any time, without the prior written consent of the Company, unless required by law.

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If disclosure of such financial statements is required by law, whether through subpoena, request for production, deposition, or otherwise, the Grantee promptly shall provide written notice to Company, including copies of the subpoena, request for production, deposition, or otherwise, within five (5) business days of their receipt by the Grantee and prior to any disclosure so as to provide Company an opportunity to move to quash or otherwise to oppose the disclosure. Notwithstanding the foregoing, the Grantee may disclose the terms of such financial statements to his or her spouse or domestic partner, and for legitimate business reasons, to legal, financial, and tax advisors.

**END OF AGREEMENT**

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**NEUTRON HOLDINGS, INC.**

**2017 STOCK INCENTIVE PLAN**

**<u>NOTICE</u> <u>OF</u> <u>RESTRICTED</u> <u>STOCK</u> <u>UNIT</u> <u>AWARD</u>**

You (the "***Grantee***") have been granted Restricted Stock Units (the "***RSUs***") covering shares of the Common Stock of Neutron Holdings, Inc. (the "***Company***"), subject to the terms and conditions of the Company's 2017 Stock Incentive Plan (the "***Plan***"), this Notice of Restricted Stock Unit Award ("***Grant Notice***"), and the attached Restricted Stock Unit Agreement (hereinafter "***RSU Agreement***") under the Plan, as follows:

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Name of Grantee: | According to Carta |
| &nbsp;&nbsp;&nbsp;&nbsp;Award Number: | According to Carta |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Number of RSUs: | According to Carta |
| &nbsp;&nbsp;&nbsp;&nbsp;Date of Grant: | According to Carta |
| &nbsp;&nbsp;&nbsp;&nbsp;Expiration Date: | Seventh anniversary of the Date of Grant. |
| &nbsp;&nbsp;&nbsp;&nbsp;Vesting Commencement Date: | According to Carta |
| &nbsp;&nbsp;&nbsp;&nbsp;Vesting: | You will receive a benefit with respect to an RSU only if it vests. Two vesting requirements must be satisfied on or before the Expiration Date specified above in order for an RSU to vest – a time-based service requirement (the "***Time-Based Requirement***") and a requirement that the Company complete one of the significant corporate transactions described below (the "***Liquidity Event Requirement***"). Your RSUs will not vest (in whole or in part) if only one (or if neither) of such requirements is satisfied on or before the Expiration Date. If both the Time-Based Requirement and the Liquidity Event Requirement are satisfied on or before the Expiration Date, the vesting date ("***Vesting Date***") of an RSU will be the first date upon which both of those requirements are satisfied with respect to that particular RSU. |

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Time-Based Requirement: | The Time-Based Requirement will be satisfied with respect to 1/12th of the RSUs on the first Company Vesting Date (as defined below) following the Vesting Commencement Date, and with respect to the balance in a series of 11 successive equal quarterly installments on each Company Vested Date thereafter, provided that you remain in Continuous Service through each applicable date and subject to Section 2 of the RSU Agreement. For purposes hereof, "***Company Vesting Date***" shall mean each March 15, June 15, September 15 and December 15. |
| &nbsp;&nbsp;&nbsp;&nbsp;Liquidity Event Requirement: | The Liquidity Event Requirement will be satisfied (as to any then-outstanding RSUs that have not theretofore been terminated pursuant to Section 2 of the RSU Agreement) on the earliest to occur of: (a) an IPO, (b) a Direct Listing, or (c) a Sale Event. |
| &nbsp;&nbsp;&nbsp;&nbsp;Settlement: | Settlement of RSUs refers to the issuance of Shares (or, if applicable, cash) once the award is vested. If an RSU vests as a result of satisfaction of both applicable vesting requirements as described above, the Company will deliver one Share for that RSU, unless at the time of settlement the Board, in its sole discretion, determines that settlement shall, in whole or in part, be in the form of cash, based on the then fair market value of a Share. Following a Vesting Date, settlement shall occur no later than the later of (a) 2½ months following the end of the calendar year in which such Vesting Date occurs or (b) 2½ months following the end of the Company's fiscal year in which such Vesting Date occurs (the last day of the longer of such 2½-month periods is referred to as the "***Short-Term Deferral End Date***"). |

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By signing below, you and the Company agree that the RSUs are granted under and governed by the terms and conditions of the Plan and the RSU Agreement, both of which are attached to and made a part hereof. You hereby acknowledge that the vesting of the RSUs pursuant to this Grant Notice is conditioned on the satisfaction of the Time-Based Requirement and the occurrence, on or before the Expiration Date, of an IPO, Direct Listing, or Sale Event. You shall have no right with respect to the RSUs to the extent an IPO, Direct Listing, or Sale Event does not occur on or before the Expiration Date (regardless of the extent to which the Time-Based Requirement was satisfied). **Section 12 of the RSU Agreement includes important acknowledgements of the** 

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**Grantee.** Capitalized terms not explicitly defined in this Grant Notice shall have the same definitions as in Section 13 of the RSU Agreement or the Plan.

You further agree to accept by email all documents relating to the Company, the Plan or the RSUs and all other documents that the Company is required to deliver to its security holders (including, without limitation, disclosures that may be required by the Securities and Exchange Commission). You also agree that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company. If the Company posts these documents on a website, it will notify you by email. You acknowledge that you may incur costs in connection with electronic delivery, including the cost of accessing the internet and printing fees, and that an interruption of internet access may interfere with your ability to access the documents.

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| | |
|:---|:---|
| **GRANTEE** | **NEUTRON HOLDINGS, INC.** |
|  | By: |
| Address: | Title: |

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**THE RESTRICTED STOCK UNITS GRANTED PURSUANT TO THIS AGREEMENT AND THE SHARES ISSUABLE UPON THE SETTLEMENT THEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.**

**NEUTRON HOLDINGS, INC.**

**2017 STOCK INCENTIVE PLAN**

**<u>RESTRICTED</u> <u>STOCK</u> <u>UNIT</u> <u>AGREEMENT</u>**

**SECTION 1. GRANT OF RESTRICTED STOCK UNITS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Grant**. On the terms and conditions set forth in the Notice of Restricted Stock Unit Award (the "***Grant Notice***") and this Agreement, the Company grants to you on the Date of Grant the number of RSUs set forth in the Grant Notice. Each RSU represents the right to receive one Share on the terms and conditions set forth in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Consideration**. No payment is required for the RSUs that have been granted to you.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Nature of RSUs; No Rights as a Stockholder**. Your RSUs are mere bookkeeping entries and represent only the Company's unfunded and unsecured promise to issue Shares on a future date under specified conditions. As a holder of RSUs, you have no rights other than the rights of a general creditor of the Company. Your RSUs carry neither voting rights nor rights to cash dividends. You have no rights as a stockholder of the Company unless and until your RSUs are settled pursuant to Section 3 below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Transfer Restrictions**. Except as otherwise provided in this Agreement, the RSUs and any right to receive Shares upon settlement of the RSUs shall not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of, including pursuant to any short position, any "put equivalent position" (as defined in Rule 16a-1(h) promulgated under the Exchange Act), or any "call equivalent position" (as defined in Rule 16a-1(b) promulgated under the Exchange Act) by you prior to the settlement of the RSUs. However, you may designate a third party who, in the event of your death, shall thereafter be entitled to receive any distribution of Shares to which you were entitled at the time of your death pursuant to this Agreement by delivering a written beneficiary designation to the Company's headquarters on the prescribed form before your death. If you deliver no such beneficiary designation or if your designated beneficiaries do not survive you, your estate will receive payments in respect of any vested RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Plan and Defined Terms**. Your RSUs are granted pursuant to the Plan, a copy of which you acknowledge having received. The provisions of the Plan are incorporated

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into this Agreement by this reference. Capitalized terms not otherwise defined herein are defined in Section 13 of this Agreement or the Plan.

**SECTION 2. VESTING.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Generally**. The RSUs will vest in accordance with the vesting schedule set forth in the Grant Notice. You will receive a benefit with respect to an RSU only if both the Time-Based Requirement and the Liquidity Event Requirement are satisfied on or before the Expiration Date. Your RSUs will not vest (in whole or in part) if only one (or if neither) of such requirements is satisfied on or before the Expiration Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Termination of Service**. If your Continuous Service terminates for any reason other than for Cause, all RSUs as to which the Time-Based Requirement has not been satisfied as of your termination date shall automatically terminate and be cancelled. If your Continuous Service terminates for Cause, all RSUs shall automatically terminate and be cancelled immediately. Upon your termination of Continuous Service, any RSUs as to which the Time-Based Requirement has been satisfied will (if an IPO, Direct Listing, or Sale Event had not yet occurred) remain outstanding until the earlier of: (i) the satisfaction of the Liquidity Event Requirement, or (ii) the Expiration Date. In case of any dispute as to whether your Continuous Service has terminated (and the Time-Based Requirement has been satisfied), the Board 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Expiration of RSUs**. If an IPO, Direct Listing, or Sale Event does not occur on or before the Expiration Date, all RSUs (regardless of whether or not, or to the extent which, the Time-Based Requirement had been satisfied as to such RSUs) shall automatically terminate and be cancelled upon such Expiration Date. Upon a termination of one or more RSUs pursuant to this Section 2, you will have no further right with respect to such RSUs or the Shares previously allocated thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Part-Time Employment**. If you commence working on a part-time basis, then subject to Applicable Laws, the Company may adjust the Time-Based Requirement set forth in the Grant Notice.

**SECTION 3. SETTLEMENT OF RESTRICTED STOCK UNITS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Settlement Date**. Following a Vesting Date with respect to a particular RSU, the Company will deliver one Share for that RSU, unless at the time of settlement the Board, in its sole discretion, determines that settlement shall, in whole or in part, be in the form of cash, based on the then fair market value of a Share. Settlement shall occur within the Short-Term Deferral End Date (as defined in the Grant Notice) following the Vesting Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Form of Delivery.** The form of any delivery of Shares (*e.g.*, a stock certificate or electronic entry evidencing the Shares) shall be determined by the Company. The Company may in its discretion designated a brokerage firm to assist with the settlement of RSUs.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Legality of Issuance.** No Shares shall be issued to you upon settlement of the RSUs unless and until the Company has determined that (i) you and the Company have taken any actions required to register the Shares under the Securities Act or to perfect an exemption from the registration requirements thereof; (ii) any applicable listing requirement of any stock exchange or other securities market on which the Shares are listed has been satisfied; and (iii) any other applicable provision of federal, state or foreign law has been satisfied. The Company shall have no liability to issue Shares in respect of the RSUs unless it is able to do so in compliance with Applicable Laws.

**SECTION 4. TAX MATTERS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Withholding Taxes**. No consideration will be paid to you in respect of this award unless you have made arrangements satisfactory to the Company and/or the Related Entity employing you (your "***Employer***") for the payment of all applicable federal, State, local and foreign income and employment withholding taxes which arise in connection with the vesting and/or settlement of the RSUs (the "***Withholding Taxes***"). To the extent that you fail to make such arrangements with respect to certain RSUs, then you will permanently forfeit such RSUs. At the discretion of the Company, these arrangements may include (i) withholding from other compensation or amounts that are owed to you by your Employer; (ii) payment in cash, (iii) payment from the proceeds of the sale of Shares through a Company-approved broker if the Shares are publicly traded; or (iv) withholding a number of Shares that otherwise would be issued to you when the RSUs are settled with a fair market value equal to the amount required to be withheld. If the Withholding Taxes are satisfied pursuant to clause (iv), you will be deemed to have been issued the full number of Shares subject to the RSUs and the fair market value of the withheld Shares, determined as of the date when taxes otherwise would have been withheld in cash, will be applied to the Withholding Taxes and such amount will be remitted to appropriate tax authorities by the Company or your Employer. The Company will not withhold fractional shares pursuant to clause (iv), so if the Withholding Taxes are satisfied pursuant to clause (iv), you hereby authorize the Company or your Employer to withhold the amount of any remaining Withholding Taxes from your wages or other cash compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Section 409A**. The settlement of the RSUs is intended to be exempt from the application of Section 409A of the Code pursuant to the "short-term deferral exemption" in Treasury Regulation 1.409A-1(b)(4) and shall be administered and interpreted in a manner that complies with such exemption. To the extent that any provision of this Agreement is ambiguous as to its exemption from Section 409A of the Code, the provision shall be read in such a manner so that all payments hereunder are exempt from Section 409A of the Code. Notwithstanding the foregoing, if this award of RSUs is interpreted as not being exempt from Section 409A of the Code, it shall be interpreted to comply with the requirements of Section 409A of the Code so that this award is not subject to additional tax or interest under Section 409A of the Code. In this regard, if this award is payable upon your "separation from service" within the meaning of Section 409A(a)(2)(A)(i) of the Code (a "***Separation***") and you are a "specified employee" of the Company or any affiliate thereof within the meaning of Section 409A(a)(2)(B)(i) of the Code on the date of your Separation, then no such payment shall be made prior to the date that is the earlier of (i) six months and one day after your Separation, or (ii) your death, but only to the extent such

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delay is necessary so that this award is not subject to additional tax or interest under Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Acknowledgements**. You acknowledge that there will be tax consequences upon vesting and/or settlement of the RSUs and/or disposition of the Shares, if any, received hereunder, and you should consult a tax adviser regarding your tax obligations prior to such event. You acknowledge that the Company is not providing any tax, legal, or financial advice, nor is the Company making any recommendations regarding your participation in the Plan or acquisition or sale of Shares subject to this award. You are hereby advised to consult with your own personal tax, legal, and financial advisors regarding your participation in the Plan. You further acknowledge that the Company (i) makes no representations or undertakings regarding the tax treatment of the award of RSUs, including but not limited to the grant, vesting, or settlement of the RSUs, the subsequent sale of Shares acquired pursuant to such RSUs, and the receipt of any dividends; and (ii) does not commit to and is under no obligation to structure the terms of the grant of the RSUs to reduce or eliminate your tax liability or achieve any particular tax result. You agree that the Company does not have a duty to design or administer the RSUs, the Plan or its other compensation programs in a manner that minimizes your tax liability. You shall not make any claim against the Company or its Board, officers, or employees related to tax matters arising from this award or your other compensation.

**SECTION 5. RIGHT OF FIRST REFUSAL.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Transfer Notice**. Neither you nor a Transferee (either being sometimes referred to herein as the "***Holder***") shall sell, hypothecate, encumber or otherwise transfer any Shares acquired upon settlement of the RSUs or any right or interest therein without first complying with the provisions of this Section 5 or obtaining the prior written consent of the Company and provided further that such Shares have been held by the Holder (and any successor Holder) for the requisite period, if any, necessary to avoid adverse accounting consequences for the Company. In the event the Holder desires to accept a *bona fide* third-party offer for any or all of the Shares acquired upon settlement of the RSUs, the Holder shall provide the Company with written notice (the "***Transfer Notice***") of: (i) the name of the proposed Transferee; (ii) the number of Shares to be transferred; and (iii) the proposed transfer price or value and terms thereof. If the Holder proposes to transfer any Shares acquired upon settlement of the RSUs to more than one Transferee, the Holder shall provide a separate Transfer Notice for the proposed transfer to each Transferee. The Transfer Notice shall be signed by both the Holder and the proposed Transferee and must constitute a binding commitment of the Holder and the proposed Transferee for the transfer of the Shares to the proposed Transferee subject to the terms and conditions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Bona Fide Transfer**. If the Company determines that the information provided by the Holder in the Transfer Notice is insufficient to establish the *bona fide* nature of a proposed voluntary transfer, the Company shall give the Holder written notice of the Holder's failure to comply with the procedure described in this Section 5, and the Holder shall have no right to transfer the Shares acquired upon settlement of the RSUs without first complying with the procedure described in this Section 5. The Holder shall not be permitted to transfer the Shares if the proposed transfer is not *bona fide*.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Right of First Refusal**. The Company shall have the right to purchase (the "***Right of First Refusal***") all or less than all, of the Shares acquired upon settlement of the RSUs which are described in the Transfer Notice (the "***Offered Shares***") in accordance with the applicable provisions of Article IX of the Company's Amended and Restated Bylaws (or any successor provision) (as in effect from time to time, the "***Bylaws***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Assignment**. Whenever the Company shall have the right to purchase Shares acquired upon settlement of the RSUs under this Right of First Refusal, the Company may designate and assign one or more employees, officers, directors or shareholders of the Company or other persons or organizations, to exercise all or a part of the Company's Right of First Refusal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Termination of Right of First Refusal**. The provisions of this Right of First Refusal shall terminate as to all Shares acquired upon settlement of the RSUs upon the Registration Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Additional Shares or Substituted Securities**. In the event of any transaction described in Sections 10 or 11 of the Plan, any new, substituted or additional securities or other property which is by reason of any such transaction distributed with respect to the Shares shall be immediately subject to the Right of First Refusal, but only to the extent the Shares are at the time covered by such right.

**SECTION 6. RESTRICTIONS ON DISPOSITION OF SHARES.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Disposition Restrictions**. The Holder shall not make a disposition of any of the Shares acquired upon settlement of the RSUs, unless and until (i) the Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a statement of the circumstances surrounding the proposed disposition and (ii) the Holder shall have furnished the Company with an opinion of counsel satisfactory to the Company to the effect that (A) such disposition will not require registration or qualification of such Shares under applicable U.S. federal, state or foreign securities laws or (B) appropriate action necessary for compliance with the applicable U.S. federal, state or foreign securities laws has been taken or (iii) the Company shall have waived, expressly and in writing, its rights under clauses (i) and (ii) of this Section 6.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Permitted Transfers**. The Holder may not sell, assign, transfer, pledge, encumber or in any manner dispose of ("***Transfer***") any Shares acquired upon settlement of the RSUs, whether voluntarily or by operation of law, or by gift or otherwise, other than by means of a "***Permitted Transfer,***" as such term is defined in Article XII of the Amended and Restated Bylaws (such restrictions, the "***Transfer Restrictions***"). If a proposed Transfer is a Permitted Transfer, or the Holder is seeking to have the Transfer deemed a Permitted Transfer by the Board, the Holder must email [\*\*\*]@li.me with the subject line "***Stock Transfer Request***" to request the Transfer, and, if applicable, that the Board approve the Transfer as a Permitted Transfer, such approval to be at the sole and absolute discretion of the Board. As a condition of any such Transfer, each Transferee must agree in writing on a form prescribed by the Company to be bound by all of the restrictions imposed on such Shares to the same extent as they apply to the Holder. All approved transfers are subject to a US$5,000 transfer fee payable by the Holder to reimburse the Company for the Company's related legal expenses.

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**SECTION 7. RESTRICTIONS ON LISTING.**

The Shares acquired upon settlement of the RSUs may not be listed on any secondary market, share marketplace, trading platform, bulletin board, quotation system, or the like, without the prior written consent of the Company (the "***Listing Restrictions***").

**SECTION 8. ADDITIONAL SHARES OR SUBSTITUTED SECURITIES.**

Any securities or cash received (other than a regular cash dividend) as the result of ownership of the Shares acquired upon settlement of the RSUs (the "***Additional Securities***"), including, but not by way of limitation, warrants, options and securities received as a stock dividend or stock split, or as a result of any transaction described in Section 10 or 11 of the Plan, shall be subject to the same conditions and restrictions as the Shares with respect to which they were issued, including, without limitation, the Vesting Schedule set forth in the Grant Notice, the Right of First Refusal, Transfer Restrictions, and Listing Restrictions in the same manner as the Shares with respect to which they relate. You shall be entitled to direct the Company to exercise any warrant or option received as Additional Securities upon supplying the funds necessary to do so, in which event the securities so purchased shall constitute Additional Securities, but you may not direct the Company to sell any such warrant or option. If Additional Securities consist of a convertible security, you may exercise any conversion right, and any securities so acquired shall constitute Additional Securities. In the event of any change in certificates evidencing the Shares or the Additional Securities by reason of any recapitalization, reorganization or other transaction that results in the creation of Additional Securities, the escrow holder is authorized to deliver to the issuer the certificates evidencing the Shares or the Additional Securities in exchange for the certificates of the replacement securities.

**SECTION 9. ADDITIONAL RESTRICTIONS APPLICABLE TO SHARES.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Securities Law Restrictions**. Regardless of whether the offering and sale of Shares under the Plan have been registered under the Securities Act or have been registered or qualified under the securities laws of any State, the Company at its discretion may impose restrictions upon the sale, pledge or other transfer of the Shares (including the placement of appropriate legends on stock certificates or the imposition of stop-transfer instructions) if, in the judgment of the Company, such restrictions are necessary or desirable in order to achieve compliance with the Securities Act, the securities laws of any State or any other Applicable Laws. You (or the beneficiary or your personal representative in the event of your death or incapacity, as the case may be) shall deliver to the Company any representations or other documents or assurances as the Company may deem necessary or reasonably desirable to ensure compliance with all applicable legal and regulatory requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Market Stand-Off**. In connection with any underwritten public offering by the Company of its equity securities pursuant to an effective registration statement filed under the Securities Act, including the Company's initial public offering, you or a Transferee shall not directly or indirectly sell, make any short sale of, loan, hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase any option or other contract for the sale of, or otherwise dispose of or transfer, or agree to engage in any of the foregoing transactions with

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respect to, any Shares acquired under this Agreement without the prior written consent of the Company or its managing underwriter. Such restriction (the "***Market Stand-Off***") shall be in effect for such period of time following the date of the final prospectus for the offering as may be requested by the Company or such underwriter. In no event, however, shall such period exceed 180 days plus such additional period as may reasonably be requested by the Company or such underwriter to accommodate regulatory restrictions on (i) the publication or other distribution of research reports or (ii) analyst recommendations and opinions, including (without limitation) the restrictions set forth in Rule 2711(f)(4) of the National Association of Securities Dealers and Rule 472(f)(4) of the New York Stock Exchange, as amended, or any similar successor rules. The Market Stand-Off shall in any event terminate two years after the date of the Company's initial public offering. In the event of the declaration of a stock dividend, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company's outstanding securities without receipt of consideration, any new, substituted or additional securities which are by reason of such transaction distributed with respect to any Shares subject to the Market Stand-Off, or into which such Shares thereby become convertible, shall immediately be subject to the Market Stand-Off. In order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect to the Shares acquired under this Agreement until the end of the applicable stand-off period. The Company's underwriters shall be beneficiaries of the agreement set forth in this Section 9(b). This Section 9(b) shall not apply to Shares registered in the public offering under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Stop-Transfer Notices**. In order to ensure compliance with the restrictions on transfer set forth in this Agreement, the Grant Notice or the Plan, 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Investment Intent at Grant**. You represent and agree that the Shares to be acquired upon settlement of the RSUs will be acquired for investment, and not with a view to the sale or distribution thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Investment Intent at Settlement**. In the event that the sale of Shares under the Plan is not registered under the Securities Act but an exemption is available that requires an investment representation or other representation, you shall represent and agree at the time of issuance that the Shares being acquired upon settlement of the RSUs are being acquired for investment, and not with a view to the sale or distribution thereof, and shall make such other representations as are deemed necessary or appropriate by the Company and its counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Rights of the Company**. The Company shall not be required to (i) transfer on its books any Shares that have been sold or transferred in contravention of this Agreement or (ii) treat as the owner of Shares, or otherwise to accord voting, dividend or liquidation rights to, any Transferee to whom Shares have been transferred in contravention of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;**No Registration Rights**. The Company may, but shall not be obligated to, register or qualify the sale of Shares under the Securities Act or any other Applicable Laws. The Company shall not be obligated to take any affirmative action in order to cause the sale of Shares under this Agreement to comply with any Applicable Laws.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;**Legends**. All certificates evidencing the Shares issued under this Agreement shall bear the following legend:

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND A RIGHT OF FIRST REFUSAL HELD BY THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE RESTRICTED STOCK UNIT AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES. THE TRANSFER RESTRICTIONS SET FORTH IN SUCH RESTRICTED STOCK UNIT AGREEMENT PROVIDE THAT, AMONG OTHER THINGS, (A) THE SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS OF SUCH RESTRICTED STOCK UNIT AGREEMENT, (B) THAT THE COMPANY SHALL NOT REGISTER OR OTHERWISE RECOGNIZE OR GIVE EFFECT TO ANY PURPORTED TRANSFER OF SECURITIES THAT DOES NOT COMPLY WITH SUCH TRANSFER RESTRICTIONS, AND (C) THAT THE SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE LISTED ON ANY SECONDARY MARKET OR TRADING PLATFORM WITHOUT THE COMPANY'S PRIOR WRITTEN CONSENT. SUCH TRANSFER RESTRICTIONS AND RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES. THE SECRETARY OF THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH RESTRICTED STOCK UNIT AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE.

THE SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE BYLAWS OF THE COMPANY, WHICH INCLUDE, AMONG OTHER THINGS, RESTRICTIONS ON TRANSFER. COPIES OF THE BYLAWS OF THE COMPANY MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER FOR A PERIOD OF TIME FOLLOWING THE EFFECTIVE DATE OF THE UNDERWRITTEN PUBLIC OFFERING OF THE COMPANY'S SECURITIES SET FORTH IN AN AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES AND MAY NOT BE SOLD OR OTHERWISE DISPOSED OF BY THE HOLDER PRIOR TO THE EXPIRATION OF SUCH PERIOD WITHOUT THE CONSENT OF THE COMPANY OR THE MANAGING UNDERWRITER.

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All certificates evidencing Shares issued under this Agreement in an unregistered transaction shall bear the following legend (and such other restrictive legends as are required or deemed advisable under the provisions of any Applicable Laws):

THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "***ACT***") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE THEREWITH.

If required by the authorities of any State in connection with the issuance of the Shares, the legend or legends required by such State authorities shall also be endorsed on all such certificates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;**Removal of Legends**. If, in the opinion of the Company and its counsel, any legend placed on a stock certificate representing Shares issued under this Agreement is no longer required, the holder of such certificate shall be entitled to exchange such certificate for a certificate representing the same number of Shares but without such legend.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;**Administration**. Any determination by the Company and its counsel in connection with any of the matters set forth in this Section 9 shall be conclusive and binding on you and all other persons.

**SECTION 10. ADJUSTMENTS OF SHARES.**

In the event of any transaction described in Section 10 of the Plan, the terms of the RSUs, (including, without limitation, the number and kind of shares subject to the RSUs) shall be adjusted as set forth in Section 10 of the Plan. In the event of a Corporate Transaction or Change in Control, the RSUs shall be subject to Section 11 of the Plan, provided that any action taken must either preserve the exemption of the RSUs from Section 409A of the Code or comply with Section 409A of the Code. Any additional RSUs and any new, substituted or additional shares, cash or other property that become subject to this award as a result of any such transaction shall be subject to the same conditions and restrictions as applicable to the RSUs to which they relate.

**SECTION 11. MISCELLANEOUS PROVISIONS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Successors and Assigns**. Except as otherwise expressly provided to the contrary, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns and be binding upon you and your legal representatives, heirs, legatees, distributees, assigns and transferees by operation of law, whether or not any such person has become a party to this Agreement or has agreed in writing to join herein and to be bound by the terms, conditions and restrictions hereof.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**No Retention Rights**. Nothing in this Agreement or in the Plan shall confer upon you the right to remain in Continuous Service in any capacity for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Related Entity employing or retaining you) or you, which rights are hereby expressly reserved by each, to terminate your Continuous Service at any time and for any reason, with or without cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Notice**. Any notice required or permitted by the terms of this Agreement shall be given in writing and shall be deemed effectively given upon personal delivery, upon deposit for delivery by an internationally recognized express mail courier service or upon deposit in the United States mail by certified mail (if the parties are within the United States), with postage and fees prepaid, addressed to the other party at its address as shown in these instruments, or to such other address as such party may designate in writing from time to time to the other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Effect on Other Employee Benefit Plans**. The value of your RSUs and the Shares issuable thereunder 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 Related Entity, except as such plans otherwise expressly provide.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Entire Agreement**. The Grant Notice, this Agreement and the Plan constitute the entire understanding between you and the Company regarding the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) that relate to the subject matter hereof. The Company may, however, unilaterally waive any provision hereof or of the Grant Notice in writing to the extent such waiver does not adversely affect your interests hereunder, but no such waiver shall operate as or be construed to be a subsequent waiver of the same provision or a waiver of any other provision hereof. 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Governing Law; Severability**. This Agreement is to be construed in accordance with and governed by the internal laws of the State of Delaware without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal laws of the State of Delaware to the rights and duties of the parties. Should any provision of this Agreement be determined by a court of law to be illegal or unenforceable, such provision shall be enforced to the fullest extent allowed by law and the other provisions shall nevertheless remain effective and shall remain enforceable.

**SECTION 12. ACKNOWLEDGEMENTS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Electronic Delivery of Documents**. You hereby agree to accept by email all documents relating to the Company, the Plan or this award and all other documents that the Company is required to deliver to its security holders (including, without limitation, disclosures that may be required by the Securities and Exchange Commission). You also agree that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company. If the Company posts these documents on a website, it shall notify you by email of their availability. You acknowledge that you may incur

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costs in connection with electronic delivery, including the cost of accessing the internet and printing fees, and that an interruption of internet access may interfere with your ability to access the documents. This consent shall remain in effect until this award expires or until you give the Company written notice that it should deliver paper documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**No Notice of Expiration Date**. You agree that the Company and its officers, employees, attorneys and agents do not have any obligation to notify you prior to the expiration of this award, regardless of whether this award will expire at the end of its full term or on an earlier date. You further agree that you have the sole responsibility for monitoring the expiration of this award. This Section 12(b) shall supersede any contrary representation that may have been made, orally or in writing, by the Company or by an officer, employee, attorney or agent of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Plan Discretionary**. You understand and acknowledge that (i) the Plan is entirely discretionary, (ii) the Company and your employer have reserved the right to amend, suspend or terminate the Plan at any time, (iii) the grant of an award does not in any way create any contractual or other right to receive additional grants of awards (or benefits in lieu of awards) at any time or in any amount and (iv) all determinations with respect to any additional grants, including (without limitation) the times when awards will be granted, the number of shares of Common Stock offered, and the vesting conditions, will be at the sole discretion of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Termination of Continuous Service**. You understand and acknowledge that participation in the Plan ceases upon your termination of Continuous Service for any reason, except as explicitly provided in the Plan or this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Extraordinary Compensation**. The value of this award shall be an extraordinary item of compensation outside the scope of your employment contract, if any, and shall not be considered a part of your normal or expected compensation for purposes of calculating severance, resignation, redundancy or end-of-service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Authorization to Disclose**. You hereby authorize and direct your employer to disclose to the Company or any Subsidiary any information regarding your employment, the nature and amount of your compensation and the fact and conditions of your participation in the Plan, as your employer deems necessary or appropriate to facilitate the administration of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;**Personal Data Authorization**. You consent to the collection, use and transfer of personal data as described in this Section 12(g). You understand and acknowledge that the Company, your employer and the Company's other Subsidiaries hold certain personal information regarding you for the purpose of managing and administering the Plan, including (without limitation) your name, home address, telephone number, date of birth, social insurance number, salary, nationality, job title, any shares of Common Stock or directorships held in the Company and details of all awards or any other entitlements to shares of Common Stock awarded, canceled, exercised, vested, unvested or outstanding in your favor (the "***Data***"). You further understand and acknowledge that the Company and/or its Subsidiaries will transfer Data among themselves as necessary for the purpose of implementation, administration and management of your participation in the Plan and that the Company and/or any Subsidiary may each further transfer Data to any third

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party assisting the Company in the implementation, administration and management of the Plan. You understand and acknowledge that the recipients of Data may be located in the United States or elsewhere. You authorize such recipients to receive, possess, use, retain and transfer Data, in electronic or other form, for the purpose of administering your participation in the Plan, including a transfer to any broker or other third party with whom you elect to deposit shares of Common Stock acquired under the Plan of such Data as may be required for the administration of the Plan and/or the subsequent holding of shares of Common Stock on your behalf. You may, at any time, view the Data, require any necessary modifications of Data or withdraw the consents set forth in this Section 12(g) by contacting the Company in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;**Administration**. You hereby agree that any question or dispute regarding the administration or interpretation of this Agreement shall be submitted by you or by the Company to the Administrator. The resolution of such a question or dispute by the Administrator shall be final and binding on all persons.

**SECTION 13. DEFINITIONS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;"***Company***" means Neutron Holdings, Inc., a Delaware corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;"***Date of Grant***" means the date specified in the Grant Notice, which date shall be the later of (i) the date on which the Board resolved to grant the RSUs to you, or (ii) your first date of Continuous Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;"***Direct Listing***" means the listing and public trading of the Shares on the New York Stock Exchange, Nasdaq Stock Market, or similar national exchange outside the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;"***Expiration Date***" means the expiration date of the RSUs as set forth in the Grant Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;"***Grant Notice***" means the Notice of Restricted Stock Unit Award to which this Agreement is attached.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;"***IPO***" means the first firm commitment underwritten public offering pursuant to an effective registration statement under the Securities Act covering the offer and sale by the Company of its equity securities, as a result of or following which the Shares shall be publicly held.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;"***IPO Date***" means the date on which the IPO occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;"***Liquidity Event Requirement***" means the requirement that the Company complete an IPO, Sale Event or Direct Listing. The Liquidity Event Requirement will be deemed satisfied (as to any then-outstanding RSUs that have not theretofore been terminated pursuant to Section 2 of the Agreement) on the earlier to occur of: (i) an IPO, (ii) Direct Listing, or (iii) a Sale Event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;"***Plan***" means the Neutron Holdings, Inc. 2017 Stock Incentive Plan, as amended.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;"***Right of First Refusal***" means the Company's right of first refusal described in Section 5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;"***RSUs***" means the Restricted Stock Units granted to you by the Company as set forth in the Grant Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;"***Sale Event***" means the consummation of the following transactions in which holders of Shares receive cash and/or marketable securities tradable on an established national or foreign securities exchange: (i) a sale of all or substantially all of the assets of the Company determined on a consolidated basis to an unrelated person or entity; (ii) a merger, reorganization, or consolidation involving the Company in which the shares of voting stock of the Company outstanding immediately prior to such transaction represent or are converted into or exchanged for securities of the surviving or resulting entity immediately upon completion of such transaction which represent less than 50% of the outstanding voting power of such surviving or resulting entity; or (iii) the acquisition of 60% or more of the outstanding voting stock of the Company in a single transaction or series of related transactions by a person or group of persons. For the avoidance of doubt, an initial public offering, any subsequent public offering, another capital raising event, and a merger effected solely to change the Company's domicile shall not constitute a "***Sale Event.***" In addition, a transaction shall not constitute a Sale Event unless such transaction also qualifies as an event under Treasury Regulation Section 1.409A-3(i)(5)(v) (change in the ownership of a corporation), Treasury Regulation Section 1.409A-3(i)(5)(vi) (change in the effective control of a corporation), or Treasury Regulation Section 1.409A-3(i)(5)(vii) (change in the ownership of a substantial portion of a corporation's assets).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;"***Securities Act***" means the Securities Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;"***Share***" means a share of the Common Stock of the Company, as adjusted in accordance with Section 10 of the Plan (if applicable).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;"***Stock***" means the Common Stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;"***Time-Based Requirement***" means the requirement to provide Service over the period of time set forth in the Grant Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;"***Transfer Notice***" means the notice of a proposed transfer of Shares described in Section 5(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;"***Transferee***" means any person to whom you have directly or indirectly transferred any of your rights under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;"***Vesting Date***" means the first date on or before the Expiration Date upon which both the Time-Based Requirement and the Liquidity Event Requirement are satisfied.

## Exhibit 10.8

**Exhibit 10.8**

**<u>BOARD SERVICES AGREEMENT</u>**

**RECITALS**

This BOARD SERVICES AGREEMENT ("Agreement") is made by and between Zhoujia (Brad) Bao ("Bao") and Neutron Holdings, Inc. dba Lime (the "Company"). The Agreement amends, restates and renames the Transition Agreement entered into among the Company and other parties, effective as of August 17, 2020 (the "Prior Agreement."). Bao and the Company are each a "Party" to the Agreement and to the extent applicable are collectively referred to herein as the "Parties." This Agreement shall become effective on the date set next to the last of the Parties to sign below (the "Effective Date").

WHEREAS, the Prior Agreement contained certain provisions related to Bao's former employment with the Company that have expired or are no longer applicable; and

WHEREAS, the Company and Bao intend for this Agreement to supersede all provisions of the Prior Agreement, unless otherwise specified herein.

NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained and other good and valuable consideration, receipt of which is hereby acknowledged, it is hereby agreed by and between the Parties as follows:

**AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Board Service</u>. Bao hereby agrees that Bao's right to continue serving on the Board will be determined in accordance with applicable Company governing documents and financing agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Board</u> <u>Compensation</u>. Effective as of the Effective Date and so long as he serves as a director (until the Company adopts a general policy or program regarding non-employee director compensation, in which Bao will become eligible to participate in such program or policy and shall no longer be eligible for compensation hereunder), Bao is entitled to receive the Company's customary director compensation package consisting of (i) an annual cash retainer of $45,000, and (ii) an annual equity award of $225,000. Cash compensation will be paid quarterly, based on Bao's service during the period, commencing on the Effective Date. The equity award shall be granted in the form of restricted stock units of the Company with a one-year cliff and in accordance with the Company's other standard terms and conditions and will be pro rated based on the time remaining in the Company's defined grant cycle from the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Indemnification</u>. At all times while Bao is serving as a member of the Board, he shall have the same level of indemnification protection and D&O insurance coverage as is offered by the Company to all other members of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Equity</u> <u>Interests</u>. The terms of any Bao existing shares and equity awards in the Company shall not be changed or modified by this Agreement and remain subject to their original terms and conditions.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Email</u> <u>Access</u> <u>and</u> <u>Computer</u>. Bao will maintain access to his <u>[\*\*\*]</u> email address and the computer that was provided to him by the Company. Bao understands and acknowledges that any use thereof and contents contained therein are considered Company Confidential Information (as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Protection of Company Confidential and Proprietary Information</u>. Bao acknowledges his fiduciary duty to the Company as a member of the Company's Board of Directors to protect and keep confidential any and all Company information of any kind ("Company Confidential Information") unless already disclosed to the public by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Payment in</u> <u>Full</u>. Bao acknowledges and agrees that he has received all payments, benefits or other sums due to him, pursuant to the Prior Agreement or otherwise, other than the compensation required to be paid pursuant to this Agreement in connection with his service on the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.<u>Indemnification</u> <u>and</u> <u>Release</u>. The indemnification, confidentiality and related provisions of the Prior Agreement, and the release of claims and related provisions remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.<u>Miscellaneous</u>. This Agreement sets forth the entire agreement between the Parties with regard to the subject matter hereof. The Prior Agreement, to the extent not expressly retained herein, and any other prior agreements with regard to the subject matter hereof are superseded by this Agreement. This Agreement shall not in any way affect, modify or nullify any other agreements that Bao has entered into with the Company regarding confidentiality, non-disclosure, non-solicitation, trade secrets, or inventions and invention assignments. This Agreement may not be modified or amended, except in a writing signed by both Parties. If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Agreement and the provision in question will be modified so as to be rendered enforceable. This Agreement may be executed in counterparts, each of which shall be deemed an original, and all counterparts so executed shall constitute one agreement binding on each of the Parties hereto. This Agreement may be executed by DocuSign or another e-signature program, and such electronic signatures shall be binding and deemed originals for purposes of enforcing this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.<u>No</u> <u>Representations</u>. Each Party has had the opportunity to consult with an attorney and has carefully read and understands the scope and effect of the provisions of this Agreement. Neither Party has relied upon any representations or statements made by the other Party hereto, which are not specifically set forth in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.<u>Governing</u> <u>Law</u>. This Agreement shall be construed and enforced under the laws of the state of Delaware without regard to conflicts therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.<u>No</u> <u>Interference</u> <u>with</u> <u>Rights</u>. Nothing in this Agreement shall be construed to waive any right provided by law that is not subject to waiver by private agreement.

------

IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below.

---

| | | | |
|:---|:---|:---|:---|
| | | | **NEUTRON HOLDINGS, INC.** |
| Dated: | 10/18/2025 | | |
| | | By | /s/ Wayne Ting |
| | | | WAYNE TING |
| | | | Chief Executive Officer |
| Dated: | 10/17/2025 | By | /s/ Zhoujia (Brad) Bao |
| | | | **ZHOUJIA (BRAD) BAO** |

---

## Exhibit 10.9

**Exhibit 10.9**

![exhibit10a.jpg](exhibit10a.jpg)

Brad Bao

Chairman

Lime

July 14, 2025

Mr. Brandon Pedersen

[\*\*\*]

Dear Brandon,

I am delighted to extend an invitation to you to join the Board of Directors of Lime as Chairman of the Audit Committee. Your distinguished career, deep expertise in finance, and demonstrated leadership in both public and private organizations make you an outstanding candidate for this pivotal role.

Since its founding, Lime has been dedicated to transforming urban mobility and advancing sustainable transportation for communities around the world. As we continue to innovate and expand our impact, strong financial oversight and governance are more important than ever. Your extensive experience in financial management, corporate governance, and audit leadership will be invaluable to our Board and executive team.

As Chairman of the Audit Committee, your responsibilities will include:

1. Leading the Audit Committee in overseeing Lime's financial reporting, disclosure practices, and internal controls.

2. Collaborating with Lime's executive team and external auditors to ensure compliance with all relevant regulatory requirements and industry best practices.

3. Providing strategic guidance on financial risk management, internal audits, and the evaluation of key financial decisions.

4. Engaging actively in Board discussions and helping to shape the direction and growth of Lime.

5. Upholding the highest standards of ethics, integrity, and accountability on behalf of Lime and its stakeholders.

In recognition of your service, you will receive a competitive compensation package commensurate with your expertise and the significant responsibilities of this position as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Annual Cash Retainer $45,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Audit Chair Additional Retainer $25,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Annual Equity Award $225,000

Your compensation is subject to the approval of the Board of Directors. Cash compensation will be paid quarterly, prorated based on your service period. Equity is granted in the form of RSUs with a one-year cliff and in accordance with our other standard terms and conditions and will also be prorated based on the time remaining in our defined grant cycle.

------

We firmly believe your appointment as Chairman of the Audit Committee will be mutually beneficial, allowing you to help shape the future of urban mobility while further enhancing your professional reputation and network.

Your appointment will be subject to the formal approval of the Board and the completion of a background check to which you consent by signing this letter. To accept this invitation, please sign and return a copy of this letter, indicating your agreement to the terms and conditions outlined above. Your term will begin once the Board has taken action to formally appoint you to this position. Should you have any questions or need additional information, please contact me directly at [\*\*\*].

We are excited about the impact you will have as a member of our Board of Directors and look forward to welcoming you to Lime.

---

| |
|:---|
| Sincerely,  |
| /s/ Brad Bao |
| Brad Bao |
| Chairman |
| Lime |

---

\*\*Acceptance:\*\*

I accept this offer to join the Board of Directors of Lime as Chairman of the Audit Committee.

---

| | |
|:---|:---|
| Signature: | /s/ Brandon Pedersen |
| Date: | &nbsp;&nbsp;&nbsp;&nbsp;July 14, 2025 |

---

## Exhibit 10.10

**Exhibit 10.10**

![neutronlogoa.jpg](neutronlogoa.jpg)

Brad Bao

Chairman

Lime

August 7, 2025

Mr. Jim Rowan

[\*\*\*]

Dear Jim,

I am delighted to extend an invitation to you to join the Board of Directors of Lime and to serve as Lead Independent Director. Your distinguished career and deep expertise in leading organizations make you an outstanding candidate for this pivotal role.

Since its founding, Lime has been dedicated to transforming urban mobility and advancing sustainable transportation for communities around the world. As we continue to innovate and expand our impact, strong governance is more important than ever. Your extensive governance and industry experience will be invaluable to our Board, shareholders and executive team.

In recognition of your service, you will receive our standard compensation package which has been benchmarked against our peer group companies and is consistent with compensation provided to directors who are serving in roles at similarly-situated companies. The compensation structure is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Annual Cash Retainer $45,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Lead Independent Additional Retainer $30,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Annual Equity Award $225,000

Your compensation is subject to the approval of the Board of Directors. Cash compensation will be paid quarterly, prorated based on your service period. Equity is granted in the form of RSUs with a one-year cliff and in accordance with our other standard terms and conditions and will also be prorated based on the time remaining in our defined grant cycle.

We firmly believe your appointment as Lead Independent Director will be mutually beneficial, allowing you to help shape the future of urban mobility while further enhancing your professional reputation and network.

Your appointment will be subject to the formal approval of the Board and the completion of a background check to which you consent by signing this letter. To accept this invitation, please sign and return a copy of this letter, indicating your agreement to the terms and conditions outlined above. Your term will begin once the Board has taken action to formally appoint you to this position. Should you have any questions or need additional information, please contact me directly at [\*\*\*].

We are excited about the impact you will have as a member of our Board of Directors and look forward to welcoming you to Lime.

------

---

| |
|:---|
| Sincerely,  |
| /s/ Brad Bao |
| Brad Bao |
| Chairman |
| Lime |

---

---

\*\*Acceptance:\*\*

I accept this offer to join the Board of Directors of Lime as Lead Independent Director.

---

| | | |
|:---|:---|:---|
| Signature: | Signature: | /s/ James Rowan |
| Date: | 10th August 2025 | 10th August 2025 |

---

## Exhibit 10.11

**Exhibit 10.11**

![limelogo.jpg](limelogo.jpg)<br>

Jim Rowan

Chairman of the Board

Lime

March 27, 2026

Liz Hamren

lizhamren@igmail.com

Dear Liz,

I am delighted to extend an invitation to you to join the Lime Board of Directors. Your distinguished career and expertise in leading organizations make you an outstanding candidate.

Since its founding, Lime has been dedicated to transforming urban mobility and advancing sustainable transportation for communities around the world. As we continue to innovate and expand our impact, strong governance is more important than ever. Your extensive governance and industry experience will be valuable to our Board, shareholders and executive team.

In recognition of your service, you will receive our standard compensation package. This has been benchmarked against our peer group companies and is consistent with compensation provided to directors who are serving in roles at similarly-situated companies.

The compensation structure is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Annual Cash Retainer $45,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Annual Equity Award $225,000

Your compensation is subject to the approval of the Board of Directors. Cash compensation will be paid quarterly, prorated based on your service period. Equity is granted in the form of RSUs with a one-year cliff and in accordance with our other standard terms and conditions and will also be prorated based on the time remaining in our defined grant cycle.

Your appointment will be subject to the formal approval of the Board.. To accept this invitation, please sign and return a copy of this letter, indicating your agreement to the terms and conditions outlined above. Your term will begin once the Board has taken action to formally appoint you to this position. Should you have any questions or need additional information, please contact me directly at jimrowan7@gmail.com

We are excited about the impact you will have as a member of our Board of Directors and look forward to welcoming you to Lime.

85 2nd Street, Suite 750 San Francisco, CA 94105

------

![limelogo.jpg](limelogo.jpg)<br>

Sincerely,

/s/ Jim Rowan

Jim Rowan

Chairman

Lime

---

\*\*Acceptance:\*\*

I accept this offer to join the Board of Directors of Lime as Director.

---

| | |
|:---|:---|
| Signature: | /s/ Liz Hamren |
| Date: | 3/28/2026 |

---

85 2nd Street, Suite 750 San Francisco, CA 94105

## Exhibit 10.12

**Exhibit 10.12**

**CREDIT AGREEMENT**

among

**NEUTRON HOLDINGS, INC.**,

as Borrower

**THE LENDERS PARTY HERETO FROM TIME TO TIME**,

as Lender,

**ALTER DOMUS (US) LLC**

as Initial Administrative Agent and

**DIAMETER FINANCE ADMINISTRATION LLC**,

as Collateral Agent

Dated as of October 5, 2023

------

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| | | <u>Page</u> |
| **CREDIT AGREEMENT** | **CREDIT AGREEMENT** | **1** |
| **SECTION 1 DEFINITIONS AND RULES OF CONSTRUCTION** | **SECTION 1 DEFINITIONS AND RULES OF CONSTRUCTION** | **1** |
| 1.1 | Certain Defined Terms | 1 |
| 1.2 | Terms of Construction | 30 |
| **SECTION 2 THE LOAN** | **SECTION 2 THE LOAN** | **31** |
| 2.1 | Term Loan Advance | 31 |
| 2.2 | Maximum Interest | 32 |
| 2.3 | Default Interest | 32 |
| 2.4 | Prepayment | 33 |
| 2.5 | Notes | 35 |
| 2.6 | Pro Rata Treatment; Application of Payments | 35 |
| 2.7 | Taxes | 35 |
| 2.8 | [Reserved] | 39 |
| 2.9 | Mitigation of Obligations | 39 |
| 2.10 | Closing Fee | 39 |
| **SECTION 3 [RESERVED]** | **SECTION 3 [RESERVED]** | **40** |
| **SECTION 4 CONDITIONS PRECEDENT** | **SECTION 4 CONDITIONS PRECEDENT** | **40** |
| 4.1 | Initial Term Loan Advance | 40 |
| 4.2 | All Advances | 42 |
| 4.3 | No Event of Default / MAE | 42 |
| **SECTION 5 REPRESENTATIONS AND WARRANTIES** | **SECTION 5 REPRESENTATIONS AND WARRANTIES** | **43** |
| 5.1 | Organizational Status and Power | 43 |
| 5.2 | Collateral | 43 |
| 5.3 | Consents | 43 |
| 5.4 | Material Adverse Effect | 43 |
| 5.5 | Litigation | 43 |
| 5.6 | Laws | 44 |
| 5.7 | Information Correct and Current | 45 |
| 5.8 | Tax Matters | 45 |
| 5.9 | Intellectual Property Claims | 46 |
| 5.10 | Intellectual Property | 46 |
| 5.11 | Security Document | 46 |
| 5.12 | Deposit Accounts, Securities Accounts and Commodities Accounts | 47 |
| 5.13 | Employee Loans | 47 |

---

i

------

---

| | | |
|:---|:---|:---|
| 5.14 | Capitalization and Subsidiaries | 47 |
| 5.15 | Pledged Securities; Instruments | 47 |
| 5.16 | Solvency | 48 |
| 5.17 | Financial Condition | 48 |
| 5.18 | Real Property | 48 |
| 5.19 | ERISA Compliance | 48 |
| 5.20 | Environmental Compliance | 49 |
| 5.21 | Insurance | 50 |
| 5.22 | Labor Matters | 50 |
| **SECTION 6 INSURANCE; INDEMNIFICATION** | **SECTION 6 INSURANCE; INDEMNIFICATION** | **51** |
| 6.1 | Coverage | 51 |
| 6.2 | Certificates | 51 |
| **SECTION 7 COVENANTS** | **SECTION 7 COVENANTS** | **52** |
| 7.1 | Financial Reports | 52 |
| 7.2 | Management Rights | 55 |
| 7.3 | Further Assurances | 55 |
| 7.4 | Indebtedness | 55 |
| 7.5 | Liens | 56 |
| 7.6 | Investments | 56 |
| 7.7 | Distributions | 57 |
| 7.8 | Transfers | 58 |
| 7.9 | Mergers or Acquisitions | 58 |
| 7.10 | Taxes | 58 |
| 7.11 | Certain Changes | 58 |
| 7.12 | Cash Management | 59 |
| 7.13 | Additional Subsidiaries | 59 |
| 7.14 | Use of Proceeds | 61 |
| 7.15 | Compliance with Laws | 61 |
| 7.16 | Intellectual Property | 62 |
| 7.17 | Transactions with Affiliates | 62 |
| 7.18 | Change in Business | 62 |
| 7.19 | Post-Closing Deliveries | 63 |
| 7.20 | [Reserved] | 63 |
| 7.21 | Minimum Liquidity | 63 |
| 7.22 | Permitted Warrant Transactions | 63 |
| **SECTION 8 [RESERVED]** | **SECTION 8 [RESERVED]** | **63** |
| **SECTION 9 EVENTS OF DEFAULT** | **SECTION 9 EVENTS OF DEFAULT** | **63** |
| 9.1 | Payments | 63 |

---

ii

------

---

| | | |
|:---|:---|:---|
| 9.2 | Covenants | 63 |
| 9.3 | Material Adverse Effect | 64 |
| 9.4 | Representations | 64 |
| 9.5 | Insolvency | 64 |
| 9.6 | Attachments; Judgments | 64 |
| 9.7 | Other Obligations | 65 |
| 9.8 | ERISA | 65 |
| 9.9 | Change of Control | 65 |
| 9.10 | Guaranty | 65 |
| 9.11 | Invalidity of Loan Documents | 65 |
| 9.12 | UBER Insolvency | 65 |
| **SECTION 10 REMEDIES** | **SECTION 10 REMEDIES** | **66** |
| 10.1 | General | 66 |
| 10.2 | Credit Bidding | 66 |
| 10.3 | Cumulative Remedies | 67 |
| **SECTION 11 MISCELLANEOUS** | **SECTION 11 MISCELLANEOUS** | **67** |
| 11.1 | Severability | 67 |
| 11.2 | Notice | 67 |
| 11.3 | Entire Agreement; Amendments | 70 |
| 11.4 | No Strict Construction | 71 |
| 11.5 | No Waiver | 71 |
| 11.6 | Survival | 71 |
| 11.7 | Successors and Assigns | 71 |
| 11.8 | Governing Law | 72 |
| 11.9 | Consent to Jurisdiction and Venue | 72 |
| 11.10 | Mutual Waiver of Jury Trial / Judicial Reference | 73 |
| 11.11 | Professional Fees; Indemnification | 73 |
| 11.12 | Confidentiality | 75 |
| 11.13 | Assignment of Rights | 76 |
| 11.14 | Revival of Secured Obligations; Termination | 76 |
| 11.15 | Counterparts | 77 |
| 11.16 | No Third Party Beneficiaries | 77 |
| 11.17 | Agency | 77 |
| 11.18 | Publicity | 84 |
| 11.19 | Release | 84 |
| 11.20 | Acknowledgement and Consent to Bail-In of Affected Financial Institutions | 85 |
| 11.21 | Erroneous Payments | 86 |

---

iii

------

**TABLE OF EXHIBITS AND SCHEDULES**

---

| | |
|:---|:---|
| **EXHIBITS** | |
| Exhibit A | Advance Request |
| Exhibit B | Secured Term Promissory Note |
| Exhibit C | Compliance Certificate |
| Exhibit D | Intercompany Subordination Agreement |
| Exhibit E-1 | Form of U.S. Tax Compliance Certificate (Foreign Lenders that are not Partnerships) |
| Exhibit E-2 | Form of U.S. Tax Compliance Certificate (Foreign Lenders that are Partnerships) |
| Exhibit F | Form of Solvency Certificate |
| Exhibit G | Form of Assignment and Assumption |
| Exhibit H | Form of Prepayment Notice |
| **SCHEDULES** |  |
| Schedule 1.1 | Commitments |
| Schedule 1A | Existing Indebtedness |
| Schedule 1B | Existing Investments |
| Schedule 1C | Existing Liens |
| Schedule 5.1 | Name, Locations, and Other Information |
| Schedule 5.8 | Tax Matters |
| Schedule 5.12 | Deposit Accounts, Securities Accounts and Commodities Accounts |
| Schedule 5.14 | Capitalization |
| Schedule 5.15 | Pledged Securities; Required Consents |
| Schedule 5.18 | Real Property |
| Schedule 5.22 | Collective Bargaining Agreements |
| Schedule 7.19 | Post-Closing Deliveries |

---

iv

------

**CREDIT AGREEMENT**

This **CREDIT AGREEMENT** is made and dated as of October 5, 2023 and is entered into by and among Neutron Holdings, Inc., a Delaware corporation ("<u>Borrower</u>"), the lenders from time to time party hereto (collectively, the "<u>Lenders</u>" and each, a "<u>Lender</u>"), **ALTER DOMUS (US) LLC** in its capacity as initial administrative agent for Lender (in such capacity, together with any successors and assigns, the "<u>Initial Administrative Agent</u>") and **DIAMETER FINANCE ADMINISTRATION LLC**, in its capacity as collateral agent for Lender (in such capacity, together with any successors and assigns, the "<u>Collateral Agent</u>" and, together with the Administrative Agent, collectively, "<u>Agent</u>").

**RECITALS**

**WHEREAS**, on the Closing Date, Borrower intends to refinance (collectively, the "<u>Closing Date</u> <u>Refinancing</u>") an existing credit facility under that certain Credit Agreement, dated as of June 4, 2021, by and among Borrower, as borrower, and Clover Private Credit Opportunities Origination II LP, as lender (the "<u>Prior Indebtedness</u>").

**WHEREAS**, Borrower has requested Lender to make available on the Closing Date to Borrower one or more term loans in an aggregate principal amount of up to $115,000,000.

**WHEREAS**, Lender is willing to make such term loan on the terms and conditions set forth in this Agreement.

**AGREEMENT**

**NOW, THEREFORE**, Borrower, Agent and Lender agree as follows:

**SECTION 1 DEFINITIONS AND RULES OF CONSTRUCTION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Defined Terms</u>. Unless otherwise defined herein, the following capitalized terms shall have the following meanings:

"<u>2020 Convertible Notes</u>" means the secured convertible promissory notes issued pursuant to that certain Note Purchase Agreement dated May 7, 2020, as amended, amended and restated, supplemented or otherwise modified from time to time.

"<u>2021 Convertible Notes</u>" means the secured convertible promissory notes issued pursuant to that certain Note Purchase Agreement dated October 29, 2021, as amended, amended and restated, supplemented or otherwise modified from time to time.

"<u>Account Control Agreement</u>" means, with respect to Controlled Accounts, as applicable, established by a Loan Party (other than Excluded Accounts), an agreement, in form and substance reasonably satisfactory to the Collateral Agent (acting at the direction of the Required Lenders), establishing "control" of such Controlled Accounts within the meaning of Articles 8 and 9, as applicable, of the UCC.

------

"<u>Acquisition</u>" means any transaction or series of related transactions consummated by Borrower and/or any of its Subsidiaries after the Closing Date for the purpose of or resulting, directly or indirectly, in (a) the acquisition of all or substantially all of the assets of a Person, or of any business, line of business or division or other unit of operation of a Person, (b) the acquisition of fifty percent (50%) or more of any class of Equity Interests of any Person, whether or not involving a merger, consolidation or similar transaction with such other Person, or otherwise causing any Person to become a Subsidiary of Borrower, or (c) the acquisition of, or the right to use, develop, license or sell (in each case, including through licensing), any product, product line, royalty rights or Intellectual Property of or from any other Person.

"<u>Administrative Agent</u>" means the Initial Administrative Agent and any of its successor or assigns.

"<u>Advance</u>" means the Term Loan Advance.

"<u>Advance Date</u>" means the funding date of any Advance.

"<u>Advance Request</u>" means a written request for Advance submitted by Borrower to Agent in substantially the form of <u>Exhibit A</u> or such other form approved by the Administrative Agent.

"<u>Affected Financial Institution</u>" means (a) any EEA Financial Institution or (b) any UK Financial Institution.

"<u>Affiliate</u>" means any Person that directly or indirectly controls, is controlled by, or is under common control with the Person in question. As used in the definition of "Affiliate," the term "control" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. If not otherwise specified or required by the context, "Affiliate" shall refer to an Affiliate of Borrower.

"<u>Agent</u>" has the meaning given to such term in the preamble to this Agreement.

"<u>Agent Fee Letter</u>" means the Agent Fee Letter, dated as of the date hereof, by and between the Borrower and the Collateral Agent, for the benefit of each Agent, as it may be amended, amended and restated, supplemented or otherwise modified from time to time.

"<u>Agreement</u>" means this Credit Agreement, as amended, restated, supplemented or otherwise modified from time to time.

"<u>Alter Domus</u>" means Alter Domus (US) LLC.

"<u>Anti-Corruption Laws</u>" means all laws, rules, and regulations of any jurisdiction applicable to Borrower or any of its Affiliates from time to time concerning or relating to bribery or corruption, including without limitation the United States Foreign Corrupt Practices Act of 1977, as amended, the UK Bribery Act 2010 and other similar legislation in any other jurisdictions.

------

"<u>Anti-Terrorism Laws</u>" means any laws, rules, regulations or orders relating to terrorism or money laundering, including without limitation Executive Order No. 13224 (effective September 24, 2001), the USA PATRIOT Act, the laws comprising or implementing the Bank Secrecy Act, and the laws administered by OFAC.

"<u>Assignee</u>" has the meaning given to it in <u>Section 11.13</u>.

"<u>Assignment and Assumption</u>" means an assignment and assumption substantially in the form of <u>Exhibit G</u>, or such other form as shall be approved by the Administrative Agent.

"<u>Authorized Officer</u>" means the chairman of the board, chief executive officer, chief financial officer, the president, vice president (or equivalent thereof), manager (or manager of such Person's sole member), or treasurer (or head of treasury), in each case, of a Loan Party, or any other officer having substantially the same authority and responsibility (or, in the case of any Foreign Subsidiary, a director or other authorized signatory of such Foreign Subsidiary).

"<u>Bail-In Action</u>" means the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial Institution.

"<u>Bail-In Legislation</u>" means (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation, rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings).

"<u>Bankruptcy Code</u>" shall mean Title 11 of the United States Code entitled "Bankruptcy", as now or hereafter in effect, or any successor thereto.

"<u>Beneficial Ownership Certification</u>" means a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation.

"<u>Beneficial Ownership Regulation</u>" means 31 C.F.R. § 1010.230.

"<u>Benefit Plans</u>" means any of (a) an "employee benefit plan" (as defined in ERISA) that is subject to Title I of ERISA, (b) a "plan" as defined in and subject to Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such "employee benefit plan" or "plan".

"<u>Blocked Person</u>" means any Person: (a) listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224, (b) a Person owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise subject to the provisions

------

of, Executive Order No. 13224, (c) a Person with which any Lender is prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law, (d) a Person that commits, threatens or conspires to commit or supports "terrorism" as defined in Executive Order No. 13224, or (e) a Person that is named a "specially designated national" or "blocked person" on the most current list published by OFAC or other similar list.

"<u>Board</u>" means, with respect to any Person that is a corporation, its board of directors, with respect to any Person that is a limited liability company, its board of managers, board of members or similar governing body, and with respect to any other Person that is a legal entity, such Person's governing body in accordance with its Organizational Documents.

"<u>Borrower</u>" has the meaning given to such term in the preamble to this Agreement.

"<u>Business</u>" means the business of the Borrower and its Subsidiaries, which includes micromobility, including, without limitation, electronic scooter and bike rentals and related micromobility businesses.

"<u>Business Day</u>" means any day other than Saturday, Sunday and any other day on which banking institutions in the State of New York are closed for business.

"<u>Cash</u>" means all cash, cash equivalents and liquid funds.

"<u>Cash Management Services</u>" means any of the following to the extent not constituting a line of credit (other than an overnight draft facility that is not in default); automated clearing house transactions, treasury and/or cash management services, including, without limitation, treasury, depository, overdraft, credit, purchasing or debit card, non-card e-payable services, electronic funds transfer, treasury management services (including controlled disbursement services, overdraft automatic clearing house fund transfer services, return items and interstate depository network services), other demand deposit or operating account relationships, foreign exchange facilities, and merchant services.

"<u>Cash Payment Conditions</u>" means, with respect to any cash payment made under a Permitted Warrant Transaction as a result of the election of "cash settlement" (or substantially equivalent term) as the "settlement method" (or substantially equivalent term) thereunder by Borrower (or its Affiliate) (including in connection with the exercise and/or early unwind or settlement thereof), satisfaction of each of the following events at the time of such payment: (a) no Default or Event of Default shall exist or result therefrom and (b) Borrower's Qualified Cash shall be no less than 150% of the outstanding Secured Obligations.

"<u>Cash Settlement Conditions</u>" means, with respect to the settlement of any conversion (or redemption) of any Permitted Convertible Indebtedness, satisfaction of each of the following events at the time of delivery of the conversion consideration: (a) both immediately before and after giving effect thereto, no Default or Event of Default shall exist or result therefrom and (b) Borrower's Qualified Cash shall be no less than 150% of the outstanding Secured Obligations.

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"<u>Certificate of Incorporation</u>" means that certain Ninth Amended and Restated Certificate of Incorporation of Borrower, as in effect on the date hereof.

"<u>CFC</u>" means a "controlled foreign corporation" as defined in Section 957 of the Code.

"<u>Change in Control</u>" means (i) a transaction or series of related transactions pursuant to which, or as a result of which, a single Person or group (within the meaning of Section 13(d)(3) of the Exchange Act), other than UBER and its Subsidiaries, directly or indirectly acquires or holds equity interests of Borrower representing (A) a majority of the outstanding voting securities, or (B) the right to receive a majority of the proceeds in a final liquidation, dissolution or termination, voluntary or involuntary, of Borrower, (ii) any "change in control" or similar event as defined in any document governing Material Indebtedness of any Loan Party, or (iii) Borrower fails at any time to own, directly or indirectly, 100% of the Equity Interests of each Subsidiary that is a Guarantor, free and clear of all Liens (other than the Permitted Liens), except where such failure is as a result of a transaction expressly permitted by the Loan Documents.

"<u>Claims</u>" has the meaning given to it in <u>Section 11.10(a)</u>.

"<u>Closing Date</u>" means October 5, 2023.

"<u>Closing Date Refinancing</u>" has the meaning given to such term in the recitals to this Agreement.

"<u>Code</u>" means the Internal Revenue Code of 1986, as amended from time to time, and the rules and regulations promulgated thereunder from time to time.

"<u>Collateral</u>" has the meaning assigned to such term in the Guaranty and Security Agreement.

"<u>Collateral Agent</u>" has the meaning given to such term in the preamble to this Agreement.

"<u>Commodities Account</u>" means any "commodities accounts" as such term is defined in the UCC.

"<u>Compliance Certificate</u>" means a certificate in the form attached hereto as <u>Exhibit C</u>.

"<u>Confidential Information</u>" has the meaning given to it in <u>Section 11.12</u>.

"<u>Contingent Obligation</u>" means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to (i) any Indebtedness, lease, dividend, letter of credit or other obligation of another, including any such obligation directly or indirectly guaranteed, endorsed, co-made or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit, corporate credit cards or merchant services issued for the account of that Person; and (iii) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or other agreement or

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arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; provided, however, that the term "Contingent Obligation" shall not include endorsements for collection or deposit in the ordinary course of business. The amount of any Contingent Obligation shall be deemed, without duplication of the primary obligation, to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by such Person in good faith; provided, however, that such amount shall not in any event exceed the maximum amount of the obligations under the guarantee or other support arrangement. For the avoidance of doubt, no Permitted Bond Hedge Transaction or Permitted Warrant Transaction will be considered a Contingent Obligation of Borrower.

"<u>Controlled Accounts</u>" means, collectively, any Deposit Accounts, Securities Accounts and Commodities Accounts, in each case, that is subject to an Account Control Agreement in favor of Collateral Agent in form and substance reasonably satisfactory to Collateral Agent (acting at the direction of the Required Lenders).

"<u>Controlled Investment Affiliate</u>" means, as to any Person, any other Person, which directly or indirectly is in control of, is controlled by, or is under common control with such Person.

"<u>Debtor Relief Laws</u>" means the Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other applicable jurisdictions from time to time in effect.

"<u>Default</u>" means any event, occurrence or condition which is, or with the giving of any notice, the passage of time, or both, could reasonably be expected to result in an Event of Default.

"<u>Deposit Accounts</u>" means any "deposit accounts" as such term is defined in the UCC, and includes any checking account, savings account, or certificate of deposit.

"<u>Diameter</u>" means Diameter Finance Administration LLC.

"<u>Disposition</u>" or "<u>Dispose</u>" means the sale, transfer, license, lease or other disposition (including any sale and leaseback transaction), whether in one transaction or in a series of transactions, of any property (including, without limitation, any Equity Interests other than Equity Interests of the Borrower or its Subsidiaries, but excluding any issuance of Equity Interests) by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith.

"<u>Domestic Subsidiary</u>" means any Subsidiary organized under the laws of the United States of America, any State thereof, the District of Columbia, or any other jurisdiction within the United States of America.

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"<u>EEA Member Country</u>" means any member state of the European Union, Iceland, Liechtenstein and Norway.

"<u>EEA Resolution Authority</u>" means any body which has authority to exercise any Write-Down and Conversion Powers.

"<u>Environmental Laws</u>" means any and all federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems.

"<u>Environmental Liability</u>" means any liability, obligation, damage, loss, claim, action, suit, judgment, order, fine, penalty, fee, expense, or cost, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Borrower, any other Loan Party or any of their respective Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal or presence of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

"<u>Equity Cash Payment Conditions</u>" means, with respect to a given Equity Cash Payment Transaction, in each case measured immediately before and immediately after giving effect to any Cash payments to be made in connection with such Equity Cash Payment Transaction: (a) no Default or Event of Default shall have occurred and be continuing and (b) Borrower shall have Qualified Cash in an amount greater than or equal to 200% of the then-outstanding Secured Obligations.

"<u>Equity Cash Payment Transaction</u>" means any transaction or series of related transactions whereby any Cash, cash equivalents or other immediately available funds are distributed, exchanged, redeemed, deposited, paid, settled or otherwise transferred for, on account of, or in connection with the ownership of any Equity Interests or other ownership rights in any capital stock, joint venture or similar interests, including without limitation in connection with any Permitted Investments (other than Permitted Investment (m)), Permitted Indebtedness or any transaction permitted under <u>Section 7.7</u> of this Agreement.

"<u>Equity Documents</u>" means any agreement entered into in connection with an equity financing or otherwise among holders of the Equity Interests of a Person or otherwise binding upon the holders of the Equity Interests of such Person.

"<u>Equity Interests</u>" means, with respect to any Person, the capital stock, partnership or limited liability company interest, or other equity securities or equity ownership interests of such Person.

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"<u>ERISA</u>" means the Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated thereunder.

"<u>ERISA Affiliate</u>" means any trade or business (whether or not incorporated) under common control with the Borrower within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 and 4971 of the Code).

"<u>ERISA Event</u>" means (a) a Reportable Event with respect to a Pension Plan; (b) the withdrawal of the Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a "substantial employer" as defined in Section 4001(a)(2) of ERISA or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan resulting in the imposition of withdrawal liability on the Borrower or any ERISA Affiliate or notification that a Multiemployer Plan is insolvent (within the meaning of Title IV of ERISA); (d) the filing of a notice of intent to terminate a Pension Plan, or the treatment of a Multiemployer Plan amendment as a termination, under Section 4041 or 4041A of ERISA, respectively; (e) the institution by the PBGC of proceedings to terminate a Pension Plan or a Multiemployer Plan; (f) any event or condition determined by the PBGC to constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (g) the determination that any Pension Plan is considered an at-risk plan or that a Multiemployer Plan is in endangered or critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; (h) the failure by the Borrower or any ERISA Affiliate to meet all applicable requirements under the Pension Funding Rules in respect of a Pension Plan, whether or not waived, or a failure by the Borrower or any ERISA Affiliate to make any required contribution to a Multiemployer Plan or (i) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate.

"<u>Erroneous Payment</u>" shall have the meaning assigned to such term in <u>Section 11.21(a)</u>.

"<u>Erroneous Payment Subrogation Rights</u>" shall have the meaning assigned to such term in <u>Section 11.21(d)</u>.

"<u>EU Bail-In Legislation Schedule</u>" means the document described as such and published by the Loan Market Association (or any successor person) from time to time.

"<u>Event of Default</u>" has the meaning given to it in <u>Section 9</u>.

"<u>Exchange Act</u>" means the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations promulgated pursuant thereto.

"<u>Excluded Accounts</u>" means Deposit Accounts (i) established in the ordinary course of business and used exclusively for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of employees of Borrower; provided, that the aggregate balance

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maintained in such Deposit Accounts shall not exceed the amount to be paid for the following four payroll periods at any time, (ii) used exclusively as escrow, fiduciary, withholding, tax payment or trust accounts, (iii) used exclusively to maintain Cash subject to a Lien permitted pursuant to <u>clause (h)</u> or <u>clause (n)</u> of the defined term "Permitted Liens", (iv) that is a zero dollar balance account, (v) held by any Foreign Subsidiary that are not otherwise Loan Parties or (vi) that do not at any time have Cash, investment property or other amounts on deposit therein in excess of $3,000,000 in the aggregate for all such accounts; provided, that, in each case, any Excluded Account shall be identified to Collateral Agent in writing.

"<u>Excluded Taxes</u>" means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted from a payment to a Recipient: (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof), or (ii) that are Other Connection Taxes, (b) in the case of a Recipient, U.S. federal withholding Taxes that are imposed on amounts payable to or for the account of such Recipient with respect to an applicable interest in a Loan or Term Loan Commitment pursuant to a law in effect on the date that (i) such Recipient acquires such interest in the Loan or Term Loan Commitment (other than pursuant to an assignment requested by the Borrower) or (ii) such Recipient (if the Recipient is a Lender) changes its lending office, except in each case to the extent, pursuant to <u>Section 2.7</u>, amounts with respect to such Taxes were payable either to such Recipient's assignor immediately before such Recipient became a party hereto or to such Recipient immediately before it changed its lending office, (c) any withholding Taxes imposed under FATCA, and (d) Taxes attributable to such Recipient's failure to comply with <u>Section 2.7(d)</u>.

"<u>Extraordinary Receipt</u>" means any cash received in the aggregate in any Fiscal Year by or paid to or for the account of any Person consisting of (i) federal income tax refunds, (ii) pension plan reversions, (iii) indemnity payments, (iv) proceeds of insurance (except to the extent received in connection with an event described in <u>clause (b)</u> of the definition of Prepayment Event), (v) any purchase price adjustments in connection with any purchase agreement related to an Acquisition (excluding any working capital adjustments made pursuant to any such purchase agreement), or (vi) judgments, proceeds of settlements or other consideration of any kind in connection with any cause of action.

"<u>FATCA</u>" means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among governmental authorities and implementing such Sections of the Code.

"<u>Fiscal Month</u>" means any fiscal month of any Fiscal Year, which month shall end on the last day of each calendar month in accordance with the fiscal accounting calendar of Borrower.

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"<u>Fiscal Quarter</u>" means any fiscal quarter of any Fiscal Year, which quarters shall end on the last day of each March, June, September and December of such Fiscal Year in accordance with the fiscal accounting calendar of Borrower.

"<u>Fiscal Year</u>" means any period of twelve consecutive months ending on December 31 of any calendar year.

"<u>Financial Statements</u>" has the meaning given to it in <u>Section 7.1</u>.

"<u>Foreign Lender</u>" shall mean a Recipient that is not a U.S. Person.

"<u>Foreign Plan</u>" means any Plan not subject to ERISA by reason of Section 4(b)(4) of ERISA.

"<u>Foreign Subsidiary</u>" means any Subsidiary other than a Domestic Subsidiary.

"<u>FSHCO</u>" means a Subsidiary that owns (directly or indirectly) no material assets other than Equity Interests (or Equity Interests and debt interests) of one or more CFCs.

"<u>GAAP</u>" means generally accepted accounting principles in the United States, as in effect from time to time.

"Governmental Authority" shall mean the government of the United States, any foreign country or any multinational authority, or any state, province, territory, municipality or other political subdivision thereof, and any entity, body or authority exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, including the PBGC and other quasi-governmental entities established to perform such functions.

"<u>Guarantee</u>" by any Person means any obligation, contingent or otherwise, of such Person directly or indirectly guaranteeing any Indebtedness or other obligation of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation (whether arising by virtue of partnership arrangements, by agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay, or to maintain financial statement conditions or otherwise), or (b) entered into for the purpose of assuring in any other obligation the obligee of such Indebtedness or other obligation of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part), provided, however, that the term Guarantee shall not include endorsements for collection or deposit in the ordinary course of business. The term "Guarantee" used as a verb has a corresponding meaning.

"<u>Guarantor</u>" means (i) each Domestic Subsidiary (excluding any FSHCO formed or acquired after the Closing Date) of Borrower that has executed or delivered, or shall in the future, pursuant to <u>Section 7.13</u>, execute or deliver, any Guarantee of Obligations, (ii) each other Subsidiary of the Borrower that has provided a Guarantee of any obligations under any Permitted Convertible Indebtedness or any Permitted Subordinated Indebtedness and (iii) each other

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Subsidiary of the Borrower that Borrower shall, with the consent of the Required Lenders, cause to execute and deliver (a) a Guarantee of Obligations and (b) other Security Documents, in form and substance reasonably acceptable to the Borrower and the Agent (acting at the direction of the Required Lenders), including control agreements or other instruments that provide the Agent with a perfected Lien (subject to Permitted Liens) over any Deposit Accounts or Securities Accounts held by such Subsidiary. For the avoidance of doubt, the guarantor under the Uber Guaranty shall not constitute a "Guarantor" hereunder.

"<u>Guaranty and Security Agreement</u>" means that certain Guaranty and Security Agreement, dated as of the Closing Date, in form and substance reasonably acceptable to Agent (acting at the direction of the Required Lenders) and made by the Loan Parties in favor of Agent, for the benefit of the Lenders.

"<u>Hazardous Materials</u>" means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law.

"<u>Historical Financial Statements</u>" means the audited consolidated balance sheets of Borrower and its Subsidiaries as of December 31, 2022 and December 31, 2021 and the related audited consolidated statements of income, shareholders' equity and cash flows for the Fiscal Years then ended and (b) unaudited consolidated balance sheets and related statements of income and cash flows of Borrower and its Subsidiaries for each Fiscal Quarter ended after December 31, 2022 through and including June 30, 2023.

"<u>Indebtedness</u>" means indebtedness of any kind, including (a) all indebtedness for borrowed money or the deferred purchase price of property or services (excluding trade credit entered into in the ordinary course of business), including reimbursement and other obligations with respect to surety bonds, letters of credit, banker's acceptances, bank guarantees, performance bonds and similar instruments, (b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all capital lease obligations, as determined under GAAP and (d) all Contingent Obligations. For the avoidance of doubt no Permitted Warrant Transaction shall be considered Indebtedness.

"<u>Indemnified Taxes</u>" means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of Borrower under any Loan Document and (b) to the extent not otherwise described in <u>clause (a)</u>, Other Taxes.

"<u>Initial Administrative Agent</u>" has the meaning given to such term in the preamble to this Agreement.

"<u>Intellectual Property</u>" has the meaning assigned to such term in the Guaranty and Security Agreement.

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"<u>Intercompany Subordination Agreement</u>" means an Intercompany Subordination Agreement, made by Borrower and certain Subsidiaries of Borrower in favor of Administrative Agent, for the benefit of the Lenders, in substantially the form attached hereto as <u>Exhibit D</u> attached hereto.

"<u>Interest Payment Date</u>" means (a) the last Business Day of each Interest Period and (d) the day on which any such Loan becomes due and payable in full or is paid or prepaid in full; provided, that the first Interest Payment Date shall commence on December 31, 2023.

"<u>Interest Period</u>" means each period of time commencing on the first day of each Fiscal Quarter and continuing through the last day of each Fiscal Quarter, subject to the following: (i) the first Interest Period shall commence on the Closing Date and shall continue through the last day of the Fiscal Quarter in which the Closing Date occurs, and (ii) the final Interest Period shall commence on the first day of the Fiscal Quarter in which the Maturity Date occurs and shall end on the Maturity Date.

"<u>Investment</u>" means any beneficial ownership (including stock, partnership or limited liability company interests) of or in any Person, or any loan, advance, Guarantee or capital contribution to any Person or the acquisition of any material asset or property of another Person.

"<u>Investment Company Act</u>" means the Investment Company Act of 1940, as amended, and the rules and regulations promulgated thereunder.

"<u>ISDA Definitions</u>" means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time by the International Swaps and Derivatives Association, Inc. or such successor thereto.

"<u>Lender</u>" and "<u>Lenders</u>" each has the meaning given to such term in the preamble to this Agreement.

"<u>License</u>" has the meaning assigned to such term in the Guaranty and Security Agreement.

"<u>Lien</u>" means any mortgage, deed of trust, pledge, hypothecation, assignment for security, security interest, encumbrance, levy, lien or charge of any kind, whether voluntarily incurred or arising by operation of law or otherwise, against any property, any conditional sale or other title retention agreement, and any lease in the nature of a security interest.

"<u>Loan</u>" means the Term Loans.

"<u>Loan Documents</u>" means this Agreement, the Guaranty and Security Agreement, the Term Note (if any), the Advance Requests, any Assignment and Assumptions, the Perfection Certificate, the Account Control Agreements, Security Documents, the Uber Guaranty, any fee letters (including the Agent Fee Letter), all UCC Financing Statements, all Intercompany

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Subordination Agreements, any subordination or intercreditor agreements, and any documents executed in connection with the Secured Obligations and the security interest granted in connection therewith, or delivered pursuant to this Agreement or any of the foregoing Loan Documents, including any amendments, waivers or consents in respect of any Loan Documents, in each case, as the same may from time to time be amended, modified, supplemented or restated, but in each case excluding ministerial notices or ordinary course communications.

"<u>Loan Parties</u>" means Borrower and each Guarantor.

"<u>Make Whole Amount</u>" means, on any date of payment or prepayment of all or any portion of the Term Loans or acceleration (whether or not automatic) of the Term Loans pursuant to an Event of Default, or upon any other Premium Event, an amount in cash equal to (a) the present value discounted to the date of prepayment on a quarterly basis (assuming a 365-day year and actual days elapsed) at a rate equal to the sum of the Treasury Rate plus 0.50%, as reasonably determined by Borrower, of all required interest payments due on the Term Loans that are prepaid from the date of prepayment through and including the twelve (12) month anniversary of the Closing Date, <u>and</u> (b) one percent (1.00%) of the aggregate principal amount of the Term Loans held by such Lender that are being paid or prepaid (or required to be paid or prepaid) or accelerated; provided, that in no event shall the Make Whole Amount be less than one percent (1.00%).

"<u>Material Adverse Effect</u>" means a material adverse effect upon: (i) the business, operations, properties, assets or financial condition of Borrower and each of its Subsidiaries taken as a whole; or (ii) the ability of Loan Parties, taken as a whole, to perform or pay the Secured Obligations in accordance with the terms of the Loan Documents; or (iii) the ability of Agent or Lender to enforce any of its rights or remedies with respect to the Secured Obligations; or (iv) the Collateral or Agent's Liens on the Collateral or the priority of such Liens except, in the case of <u>clauses (ii)</u>, <u>(iii)</u> or <u>(iv)</u>, to the extent resulting from an action or failure to act by the Agent or Lender.

"<u>Material Indebtedness</u>" shall have the meaning assigned to such term in <u>Section 9.7</u>.

"<u>Maturity Date</u>" means the earliest to occur of (i) September 30, 2026 and (ii) the date on which the Administrative Agent declares the Loans then outstanding to be due and payable in full in accordance with <u>Section 9</u>.

"<u>Maximum Rate</u>" shall have the meaning assigned to such term in <u>Section 2.2</u>.

"<u>Mortgage</u>" means any deed of trust, leasehold deed of trust, mortgage, leasehold mortgage, deed to secure debt, leasehold deed to secure debt or other document creating a Lien on Real Property or any interest in Real Property made by any Loan Party in favor of, or for the benefit of, Collateral Agent for the benefit of Collateral Agent and Lender, in form and substance reasonably satisfactory to Collateral Agent (acting at the direction of the Required Lenders) and Borrower (taking into account the law of the jurisdiction in which such mortgage, deed of trust, leasehold deed of trust, mortgage, leasehold mortgage, deed to secure debt, leasehold deed to secure debt or other document is to be recorded).

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"<u>Multiemployer Plan</u>" means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA that is subject to the provisions of Title IV of ERISA and to which the Borrower or any ERISA Affiliate makes or is obligated to make contributions or has any continuing liability.

"<u>Net Cash Proceeds</u>" means the amount of all Cash proceeds (including deferred compensation) received (directly or indirectly) by or on behalf of Borrower or its Subsidiaries (if on behalf, then for the account of such Borrower or its Subsidiaries), or distributable to Borrower or its Subsidiaries (to the extent such proceeds which are distributable are not distributed at the direction of such Borrower or its Subsidiaries or as a result of Borrower or any Subsidiaries voting Equity Interests owned in favor of any corporate action that would result in such proceeds not being actually distributed), from time to time, as a result of a Prepayment Event, after deducting therefrom, without duplication, (w) reasonable and documented fees, commissions, expenses and other direct costs related thereto and required to be paid or payable by Borrower or any Subsidiaries in connection with such Prepayment Event (including reasonable and documented attorneys' fees, accountants' fees, investment banking fees, survey costs, title insurance premiums, and related search and recording charges, transfer taxes, deed or mortgage recording taxes, other customary expenses and brokerage, consultant and other customary fees actually incurred in connection therewith), (x) Taxes paid, payable, or determined by such Borrower or its Subsidiaries to be payable in connection with such transaction to any taxing authorities by such Borrower, net of any applicable credits, and any repatriation costs associated with receipt or distribution by the applicable taxpayer of such proceeds, (y) any cash reserves required to be maintained by such Borrower or its Subsidiaries in connection with such transaction in accordance with GAAP or applicable law, provided that when any reserve or any portion thereof is no longer required to be maintained such amount shall be considered Net Cash Proceeds then received; provided further, that Borrower shall, at Lender's reasonable request, provide such calculations or evidence of costs deducted in arriving at Net Cash Proceeds as Lender may reasonably require to confirm the calculation of Net Cash Proceeds in accordance with the foregoing and (z) the principal amount, premium or penalty, if any, interest and other amounts on any Permitted Indebtedness (other than intercompany Indebtedness) which is secured by a Permitted Lien on the asset sold in such Prepayment Event on a senior basis to the Obligations which is required to be repaid with such proceeds.

"<u>Net Equity Proceeds</u>" means an amount equal to any Cash proceeds from a capital contribution to, or the issuance of any Equity Interests of, Borrower, or the consummation of a merger or consolidation with a special purpose acquisition corporation or other entity, in each case, net of reasonable and customary underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable and documented out-of-pocket legal fees and expenses.

"<u>Net Revenue</u>" means the revenue for the applicable period of measurement of Borrower and its Subsidiaries on a consolidated basis determined in accordance with GAAP.

"<u>Notice of Successor Effective Date</u>" shall have the meaning assigned to such term in <u>Section 11.17(a)</u>.

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"<u>Obligations</u>" means all advances to, and debts (including principal, interest, premiums (including, without limitation, any Prepayment Premium), Loan Party expenses and other fees, costs, and expenses), liabilities, obligations, covenants, indemnities, and duties of, any Loan Party arising under any Loan Document, including Erroneous Payment Subrogation Rights (provided that the Obligations shall not be increased by the amount of any Erroneous Payment) and fees, costs and expenses of the Lenders and the Agent (including any former Agent) reimbursable by the Loan Parties hereunder, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest, premiums (including, without limitation, any Prepayment Premium) fees, costs, expenses and indemnities that accrue after the commencement by or against any Loan Party of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest, premium (including Prepayment Premium), fees, costs, expenses and indemnities are allowed claims in such proceeding. Notwithstanding anything herein to the contrary, no obligations under any warrant, purchase of equity, equity investment or similar instrument shall be considered an "Obligation" hereunder.

"<u>OFAC</u>" means the U.S. Department of Treasury Office of Foreign Assets Control.

"<u>OFAC Lists</u>" means, collectively, the Specially Designated Nationals and Blocked Persons List maintained by OFAC pursuant to Executive Order No. 13224, 66 Fed. Reg. 49079 (Sept. 25, 2001) and/or any other list of terrorists or other restricted Persons maintained pursuant to any of the rules and regulations of OFAC or pursuant to any other applicable Executive Orders.

"<u>Organizational Documents</u>" means with respect to any Person, such Person's formation documents, and (a) if such Person is a corporation, its bylaws, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its partnership agreement (or similar agreement), each of the foregoing with all current amendments or modifications thereto.

"<u>Other Connection Taxes</u>" means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).

"<u>Other Taxes</u>" means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment requested by the Borrower pursuant to <u>Section 2.9</u>).

"<u>Payment Recipient</u>" shall have the meaning assigned to such term in <u>Section 11.21(a)</u>.

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"<u>PBGC</u>" means the Pension Benefit Guaranty Corporation.

"<u>Pension Funding Rules</u>" means the rules of the Code and ERISA regarding minimum required contributions (including any installment payment thereof) to Pension Plans and Multiemployer Plans and set forth in Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.

"<u>Pension Plan</u>" means any employee pension benefit plan (excluding a Multiemployer Plan) that is maintained or is contributed to by the Borrower or any ERISA Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code.

"<u>Perfection Certificate</u>" has the meaning assigned to such term in the Guaranty and Collateral Agreement.

"<u>Permitted Acquisition</u>" means any Acquisition which is conducted in accordance with the following 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;of a business or Person or product engaged in a line of business that is similar, ancillary, complementary, incidental or related thereto, or an extension, development or expansion of the Business of Borrower or its 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;if such Acquisition is structured as a stock acquisition, then the Person (as long as such Person is organized under the laws of the United States of America, any State thereof, the District of Columbia, or any other jurisdiction within the United States of America) so acquired shall either (i) satisfy the requirements of Section 7.13 hereof and be jointly and severally liable for all Obligations or (ii) such Person shall be merged with and into Borrower (with Borrower being the surviving 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;if such Acquisition is structured as the acquisition of assets, such assets shall be acquired by Borrower or any other Loan Party, and shall be free and clear of Liens 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;Borrower shall have delivered to Lender not less than fifteen (15) days prior to the date of such Acquisition, notice of such 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;both immediately before and after such Acquisition, no Event of Default shall have occurred and be 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;prior to or substantially concurrently with the consummation of any such Acquisition, delivery of a copy of the definitive agreement relating to such 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;(g)&nbsp;&nbsp;&nbsp;&nbsp;such Acquisition is consensual (non-"hostile") and, if applicable, shall have been approved by the Board and/or the stockholders or other equityholders of the target, if applicable; 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;(h)&nbsp;&nbsp;&nbsp;&nbsp;the aggregate consideration paid in connection with all Acquisitions consummated in any Test Period shall not exceed $150,000,000, *plus* the amount of any Permitted Indebtedness described in clauses (d), (j) or (k) of the definition thereof incurred by the Loan Parties plus the amount of proceeds from the issuance of Equity Interests by the Borrower, so long as (w) on the date the definitive agreement for any Acquisition is entered into, after giving pro forma effect to such Acquisition, the Borrower shall be in compliance with all covenants set forth in Section 7.21, (x) any such Indebtedness shall be subordinated to the Secured Obligations subject to a subordination agreement in form and substance satisfactory to Agent (acting at the direction of the Required Lenders), (y) [reserved] and (z) any such Indebtedness shall not have cash payments of principal or any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier than, ninety-one (91) days after the Maturity Date; provided, that this clause (z) shall no longer apply as of the first date an initial public offering has occurred.

"<u>Permitted Bond Hedge Transaction</u>" means any call or capped call option (or substantively equivalent derivative transaction) relating to Borrower's common stock (or other securities or property following a merger event or other change of the common stock of Borrower) purchased by Borrower in connection with the issuance of any Permitted Convertible Indebtedness, as may be amended in accordance with its terms; provided that, the cost of such transaction (net of any proceeds to Borrower from the sale of any related Permitted Warrant Transaction) shall not exceed 15% of the gross proceeds to Borrower from such issuance of Permitted Convertible Indebtedness; provided further that the terms, conditions and covenants of each such call option transaction are customary for agreements of such type; provided; further that a certificate of Borrower as to the satisfaction of such requirement (described in the immediately preceding proviso) delivered at least three (3) Business Days prior to entering into such transaction, together with a reasonably detailed description of the material terms, conditions and covenants of such transaction or drafts of documentation relating thereto, stating that Borrower has determined in good faith that such terms, conditions and covenants satisfy the foregoing requirement, shall be conclusive evidence of satisfaction thereof unless Agent notifies the Borrower at least one (1) Business Day prior to the date the Borrower intends to enter into such transaction that Agent disagrees, in its commercially reasonable judgment, with such determination (which notice shall include a description of the basis upon which Agent disagrees).

"<u>Permitted Convertible Indebtedness</u>" means (i) the 2021 Convertible Notes and the 2020 Convertible Notes and (ii) Indebtedness of Borrower that is convertible into a fixed number (subject to customary anti-dilution adjustments, "make-whole" increases and other customary changes thereto) of shares of common stock of Borrower (or other securities or property following a merger event or other change of the common stock of Borrower), Cash or any combination thereof (with the amount of such Cash or such combination determined by reference to the market price of such common stock or such other securities); provided, that, in each case, such Indebtedness shall (a) not require cash settlement of conversions or other cash payments of principal or any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier than, (I) ninety-one (91) days after the Maturity Date or (II) in the case of the 2021 Convertible Notes, twenty-nine (29) days after the Maturity Date, (b) [reserved], (c) not be guaranteed by any Subsidiary of Borrower that has not provided a

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Guarantee of the Obligations and, if secured, shall (I) not be secured by any Liens on assets or property not constituting Collateral and (I) be subject to intercreditor arrangements reasonably satisfactory to the Agent, (d) be on terms and conditions customary for Indebtedness of such type; provided further that a certificate of Borrower as to the satisfaction of the conditions described in <u>clause (d)</u> delivered at least ten (10) Business Days prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of documentation relating thereto, stating that Borrower has determined in good faith that such terms and conditions satisfy the foregoing requirements of <u>clause (d)</u>, shall be conclusive unless Agent notifies the Borrower within such ten (10) Business Day period that Agent disagrees, in its commercially reasonable judgment, with such determination which notice shall include a description of the basis upon which Agent disagrees.

"<u>Permitted Indebtedness</u>" 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness of Borrower or other Loan Parties in favor of Lender or Agent arising under this Agreement or any other Loan Document;

&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;Indebtedness existing on the Closing Date which is disclosed in <u>Schedule 1A</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;Indebtedness to trade creditors incurred 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;Permitted Subordinated Indebtedness in an aggregate principal amount not to exceed together with the Permitted Convertible Indebtedness incurred pursuant to <u>clause (k)(i)</u> below, $1,500,000,000 at any one time outstanding, provided, that such Permitted Subordinated Indebtedness shall not require cash payments of principal or any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier than, ninety-one (91) days after the Maturity 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;reimbursement obligations in connection with letters of credit that are secured by Cash and issued on behalf of Borrower or a Subsidiary for real estate purposes in the ordinary course of business in an amount not to exceed $21,000,000 at any time outstanding;

&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 Indebtedness incurred to finance the acquisition of any new vehicle fleet in an aggregate principal amount not to exceed $32,000,000 at any one time outstanding; provided, that such amount may be increased from time to time so long as Borrower has provided notice to the Administrative Agent indicating the amount of the increase, the purposes of its use and the Required Lenders consent to such increase;

&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;intercompany Indebtedness by a Loan Party to or in any other existing Loan Party; provided, that any Indebtedness owed by a Loan Party to a Subsidiary that is not a Loan Party shall not be permitted except as provided by <u>clause (m)</u> 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;(h)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness incurred to finance insurance premiums in the ordinary course of business;

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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;(i)&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;unsecured Indebtedness in an aggregate principal amount not to exceed $3,000,000 at any one time outstanding;

&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;Permitted Convertible Indebtedness in an aggregate principal amount not to exceed the sum of (i) the aggregate principal amount outstanding of the 2021 Convertible Notes as of the Closing Date plus the aggregate principal amount (or such lower amount as necessary to comply with the shared limitation on Permitted Subordinated Indebtedness set forth in <u>clause (d)(i)</u> above) outstanding of the 2020 Convertible Notes as of the Closing Date, in each case, *plus* any capitalized interest or other payments payable in kind payable after the Closing Date, *plus* (ii) uncapped additional principal amounts, in each case, so long as (A) no Event of Default has occurred and is continuing and (B) (x) any such Indebtedness is subordinated to the Secured Obligations subject to a subordination agreement in form and substance satisfactory to Agent (acting at the direction of the Required Lenders), and (y) any such Indebtedness shall not have cash payments of principal or any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier than, (I) ninety-one (91) days after the Maturity Date or (II) in the case of the 2021 Convertible Notes, twenty-nine (29) days after the Maturity Date; provided, that this <u>clause (B)</u> shall no longer be effective as of the first date an initial public offering has occurred; 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;(l)&nbsp;&nbsp;&nbsp;&nbsp;extensions, refinancings and renewals of any Permitted Indebtedness described in <u>clause (b)</u> above, provided that the principal amount is not increased or the terms modified to impose materially more burdensome terms upon the applicable Loan Party, as the case may be, and subject to any limitations on aggregate amount of Indebtedness of such type, to the extent described in one of the foregoing clauses of this defined 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;(m)&nbsp;&nbsp;&nbsp;&nbsp;intercompany Indebtedness that is either (i) unsecured and permitted pursuant to <u>clause (h)</u> of the definition of Permitted Investments or (ii) subject to the terms of an Intercompany Subordination 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;(n)&nbsp;&nbsp;&nbsp;&nbsp;guarantees of Borrower in respect of Indebtedness of Borrower to the extent permitted under <u>Section 7.6</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;(o)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness arising from a bank or other financial institution honoring a check, draft or similar instrument (other than resulting from any overdraft) 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;(p)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness incurred in respect of Cash Management Services, in each case, incurred 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;(q)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness arising under performance, payment, surety, customs, stay, bid or appeal bonds, performance and completion guaranties and similar instruments, in each case in the ordinary course of business and not in connection with any Indebtedness for borrowed

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money; provided that the aggregate amount of any such Indebtedness pursuant to this <u>clause (q)</u> shall not exceed $10,000,000 at any time outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness consisting of Contingent Obligations in connection with any equity exchange program involving the issuance of equity awards under Borrower's equity incentive plans; provided that any Cash payments made in connection with such Indebtedness shall only be made pursuant to an Equity Cash Payment Transaction that satisfies the Equity Cash Payment Conditions pursuant to <u>Section 7.7</u>; 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;(s)&nbsp;&nbsp;&nbsp;&nbsp;reimbursement obligations in connection with surety bonds, letters of credit, banker's acceptances, bank guarantees, performance bonds and similar instruments that are secured by Cash and issued on behalf of Borrower or a Subsidiary for any other purposes in the ordinary course of business in an amount not to exceed $15,000,000 at any time outstanding.

"<u>Permitted Investment</u>" 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Investments existing on the Closing Date which are disclosed in <u>Schedule 1B</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;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof maturing within one year from the date of acquisition thereof currently having a rating of at least A-2 or P-2 from either Standard & Poor's Corporation or Moody's Investors Services, (ii) commercial paper maturing no more than one year from the date of creation thereof and currently having a rating of at least A-2 or P-2 from either Standard & Poor's Corporation or Moody's Investors Services, (iii) certificates of deposit issued by any bank with assets of at least $500,000,000 maturing no more than one year from the date of investment therein, (iv) money market accounts, and (v) Investments permitted by Borrower's investment policy in effect on the Closing Date, as may be amended from time to time, provided that the Agent has approved such investment policy in writing;

&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;Repurchases by Borrower of its Equity Interests issued to departing managers, advisory members, officers, employees, consultants, directors or other service providers of Borrower, or departing officers, employees, consultants or other consultants of any Loan Party who are acting in such capacity on behalf of Borrower of Equity Interests of Borrower, provided that the aggregate amount of such repurchases per Fiscal Year shall not exceed $3,000,000 per Fiscal Year and no default known to Borrower or Event of Default shall have occurred or be 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;Investments accepted in connection with Permitted Transfers;

&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;Investments received in connection with the bankruptcy or reorganization of a customer or supplier 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;Investments consisting of notes receivable of, or prepaid royalties and other credit extensions in the ordinary course of business to third party suppliers or customers in an aggregate amount outstanding not to exceed $15,000,000 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;(g)&nbsp;&nbsp;&nbsp;&nbsp;loans and advances to, or guarantees of Indebtedness of, employees, directors, officers, managers, consultants or independent contractors in the ordinary course of business in an aggregate amount not to exceed $1,500,000;

&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;Investments to or in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;a Loan Party in another Loan 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;(x)&nbsp;&nbsp;&nbsp;&nbsp;any Subsidiary of the Borrower that is not a Loan Party in any other Subsidiary of the Borrower that is not a Loan 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;(y)&nbsp;&nbsp;&nbsp;&nbsp;any Loan Party in any Subsidiary of the Borrower that is not a Loan Party that consists of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Dispositions of vehicles in the ordinary course of business and consistent with past practices, on terms which are commercially reasonable,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Investments pursuant to cost-plus or transfer pricing agreements for payroll and operating expenses, in the ordinary course of business and consistent with past practices,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Investments in (i) operational Subsidiaries to satisfy applicable local law requirements and (ii) non-operational Subsidiaries to satisfy applicable local law requirements for the dissolution or liquidation of such Subsidiaries in an aggregate amount not to exceed $7,000,000 for any Fiscal 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;&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;other Investments not to exceed $1,000,000 in any Fiscal Year, 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;(v)&nbsp;&nbsp;&nbsp;&nbsp;Investments in connection with cash management, pooling or similar arrangements or in connection with the acquisition of equipment, contracts or other assets used or useful in the ordinary course of business and consistent with past practices;

provided that all Permitted Investments made pursuant to this sub <u>clause (h)(y)</u> shall be for a *bona fide* business purpose and not in connection with any liability management or similar transaction, and shall not consist of intellectual property; 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;(z)&nbsp;&nbsp;&nbsp;&nbsp;any Subsidiary of the Borrower in any Loan 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;Investments in Deposit Accounts, subject to compliance with <u>Section 7.12</u> 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;(j)&nbsp;&nbsp;&nbsp;&nbsp;Borrower's entry into (including payments of premiums in connection therewith), and the performance of obligations under, any Permitted Bond Hedge Transactions and Permitted Warrant Transactions in accordance with their terms;

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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;(k)&nbsp;&nbsp;&nbsp;&nbsp;Investments consisting of the leasing, licensing, sublicensing or contribution of Intellectual Property, in each case, on a nonexclusive basis and in the ordinary course of business or pursuant to non-exclusive joint marketing arrangements with other 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;(l)&nbsp;&nbsp;&nbsp;&nbsp;Investments consisting of purchases or acquisitions of inventory, supplies, materials and equipment the ordinary course of business or Permitted Acquisitions;

&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;Investments constituting the repurchase of de minimis shares in any Subsidiary; provided that the aggregate amount of such repurchases shall not exceed $100,000 and no default or Event of Default shall have occurred or be 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;(n)&nbsp;&nbsp;&nbsp;&nbsp;Investments in connection with the cash management operations of Borrower and its Subsidiaries that constitute Permitted Indebtedness;

&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;Licenses described in <u>clause (b)</u> of the defined term "Permitted 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;(p)&nbsp;&nbsp;&nbsp;&nbsp;guarantees of operating leases or of other obligations permitted under this Agreement that do not constitute Indebtedness, in each case, entered into by Borrower 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;(q)&nbsp;&nbsp;&nbsp;&nbsp;Investments constituting the cashless repurchase of common stock of Borrower deemed to occur upon the exercise of options, warrants or similar rights solely to the extent that shares of such stock represent a portion of the exercise price of such options, warrants or similar 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;(r)&nbsp;&nbsp;&nbsp;&nbsp;Investments consisting of Contingent Obligations to the extent permitted in <u>clause (r)</u> of the defined term "Permitted Indebtedness"; 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;(s)&nbsp;&nbsp;&nbsp;&nbsp;additional Investments that do not exceed $3,000,000 in the aggregate.

"<u>Permitted Liens</u>" means any and all 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Liens in favor of Agent or Lender;

&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;Liens existing on the Closing Date which are disclosed in <u>Schedule 1C</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;Liens in favor of materialmen, bailees, artisans, mechanics, carriers warehouseman, landlords and other Persons securing ordinary course obligations which are not yet delinquent and not in connection with borrowed money;

&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;Liens for Taxes, fees, assessments or other governmental charges or levies, either (i) not delinquent or (ii) being contested in good faith by appropriate proceedings, provided that Borrower (or another appropriate Person) maintains adequate reserves therefor in accordance with GAAP;

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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;Liens arising from judgments, decrees or attachments (or appeal or other surety bonds related to such judgments) in circumstances which do not 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;the following deposits, to the extent made in the ordinary course of business: deposits under worker's compensation, unemployment insurance, social security and other similar laws, or to secure the performance of bids, tenders or contracts (other than for the repayment of borrowed money and including bailees and warehousemen) or to secure indemnity, performance or other similar bonds for the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure statutory obligations (other than Liens arising under ERISA or environmental Liens) or surety or appeal bonds, or to secure indemnity, performance or other similar bonds;

&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;leasehold interests in leases or subleases and licenses granted in the ordinary course of business and not interfering in any material respect with the business of the licensor;

&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;Liens on equipment, software embedded in such equipment, and proceeds thereof, which (i) secure Permitted Indebtedness described in <u>clause (f)</u> of the defined term "Permitted Indebtedness" above, or (ii) exist at the time such equipment is acquired by Borrower;

&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;Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of custom duties that are promptly paid on or before the date they become due;

&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;Liens in connection with Indebtedness described in <u>clause (h)</u> of the defined term "Permitted Indebtedness", provided that such Lien is limited to insurance proceeds arising from the subject insurance policy and the unearned portion of premium payments, and provided that financed premium payments are paid when due;

&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;statutory and common law rights of set-off and other similar rights as to deposits of Cash and securities in favor of banks, other depository institutions and brokerage firms or securities intermediaries solely to secure payment of amounts due in the ordinary course of business in connection with the maintenance of Deposit Accounts or Securities Accounts;

&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;easements, servitudes, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business so long as they do not materially impair the value or marketability of the related property;

&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;Licenses described in <u>clause (b)</u> of the defined term "Permitted 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;(n)&nbsp;&nbsp;&nbsp;&nbsp;(i) Liens on Cash securing obligations permitted in accordance with <u>clause (d)</u> and <u>clause (s)</u> of the defined term "Permitted Indebtedness" in an aggregate amount not to exceed the reimbursement obligation secured, and (ii) security deposits in connection with real property leases in the ordinary course of business;

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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;(o)&nbsp;&nbsp;&nbsp;&nbsp;Liens incurred in connection with the extension, renewal or refinancing of the Indebtedness secured by Liens of the type described in <u>clause (a)</u> above; provided, that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the Indebtedness being extended, renewed or refinanced (as may have been reduced by any payment thereon) does not increase, and subject to any limitation with respect to the amount secured by such Lien of such type, to the extent described in one of the foregoing clauses of this defined 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;(p)&nbsp;&nbsp;&nbsp;&nbsp;Liens securing Permitted Subordinated Indebtedness and Permitted Convertible Indebtedness; provided that such Liens shall at all times be subject to intercreditor arrangements reasonably satisfactory to the Agent.

"<u>Permitted Subordinated Indebtedness</u>" means Indebtedness subordinated to the Secured Obligations in amounts and on terms and conditions satisfactory to Agent in its reasonable discretion; provided, that such Indebtedness shall (a) be subject to a subordination agreement in form and substance satisfactory to Agent in its reasonable discretion on customary deep subordination terms, as may be amended, restated or otherwise modified from time to time; (b) not require cash settlement of conversions or other cash payments of principal or any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier than, ninety-one (91) days after the Maturity Date, (c) not be guaranteed by any Subsidiary of Borrower that has not provided a Guarantee of the Obligations and, if secured, shall (i) not be secured by any Liens on assets or property not constituting Collateral and (ii) shall be subject to intercreditor arrangements reasonably satisfactory to the Agent and (d) be on terms and conditions customary for Indebtedness of such type; provided further that a certificate of Borrower as to the satisfaction of the conditions described in <u>clause (d)</u> delivered at least ten (10) Business Days prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of documentation relating thereto, stating that Borrower has determined in good faith that such terms and conditions satisfy the foregoing requirements of <u>clause (d)</u>, shall be conclusive unless Agent notifies the Borrower within such ten (10) Business Day period that Agent disagrees, in its commercially reasonable judgment, with such determination which notice shall include a description of the basis upon which Agent disagrees.

"<u>Permitted Transfers</u>" 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;(i) non-exclusive Licenses and similar arrangements for the use of Intellectual Property in the ordinary course of business, (ii) Licenses that could not result in a legal transfer of title of the licensed property that may be exclusive in respects other than territory or may be exclusive as to territory but only as to discreet geographical areas outside of the United States in the ordinary course of business and (iii) other exclusive Licenses in the ordinary course of business and which do not materially interfere with the business of the Borrower and its Subsidiaries; provided, that (A) any such License shall only be entered into with third parties on commercially reasonable terms and (B) any Licenses with Subsidiaries shall be on an arms-length basis;

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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;Dispositions of worn-out, used, decommissioned, obsolete or surplus Equipment (as defined in the UCC) in the ordinary course of business, and for the avoidance of doubt, any Dispositions of vehicle fleet;

&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;use of Cash in the ordinary course of business in a manner not prohibited by the terms 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;transfers, sales or other Dispositions among: (i) Loan Parties and/or (ii) Subsidiaries pursuant to <u>clause (h)</u> of Permitted Investments;

&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;Dispositions consisting of Permitted Investments (other than <u>clause (d</u>) of such definition), Permitted Indebtedness and Permitted Liens (other than <u>clause (m</u>) of such definition);

&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;other Dispositions of assets having a fair market value of not more than $1,500,000 in the aggregate in any Fiscal Year; 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;the abandonment, allowance to lapse or expiration of any intellectual property of de minimis or no value in the ordinary course of business and that does not materially interfere with the ordinary conduct of the business of Borrower and its Subsidiaries (as determined by Borrower in its reasonable business judgment).

"<u>Permitted Warrant Transaction</u>" means any call option, warrant or right to purchase (or substantively equivalent derivative transaction) relating to Borrower's common stock (or other securities or property following a merger event or other change of the common stock of Borrower) and/or Cash (in an amount determined by reference to the price of such common stock) sold by Borrower substantially concurrently with any purchase by Borrower of a related Permitted Bond Hedge Transaction and as may be amended in accordance with its terms; provided that (x) that the terms, conditions and covenants of each such call option transaction are customary for agreements of such type, as determined by Borrower and Lender in their commercially reasonable discretion and (y) such call option transaction would be classified as an equity instrument in accordance with GAAP.

"<u>Person</u>" means any individual, sole proprietorship, partnership, joint venture, trust, unincorporated organization, association, corporation, limited liability company, institution, other entity or government.

"<u>Plan</u>" means any employee benefit plan within the meaning of Section 3(3) of ERISA, whether or not subject to ERISA (including a Pension Plan but excluding a Multiemployer Plan) maintained by the Borrower or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate or any such plan to which the Borrower or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate, is required to contribute on behalf of any of its employees.

"<u>Platform</u>" means any of Debt Domain, Intralinks, Syndtrak or a substantially similar electronic transmission system.

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"<u>Pledged Securities</u>" has the meaning assigned to such term in the Guaranty and Security Agreement.

"<u>Premium Event</u>" has the meaning set forth in <u>Section 2.4(c)</u>.

"<u>Prepayment Event</u>" means (a) any Disposition or series of related Dispositions involving assets with a fair market value in excess of $1,500,000 (other than Permitted Transfers) individually and $5,000,000 in the aggregate for any Fiscal Year, (b) any casualty or other insured damage to, or any taking under power of eminent domain or by condemnation or similar proceeding of, any property or asset of Borrower or any Subsidiary, which results in proceeds in excess of $1,500,000 individually and $5,000,000 in the aggregate for any Fiscal Year, (c) the incurrence by Borrower or any Subsidiary of any Indebtedness, other than Permitted Indebtedness, (d) any Extraordinary Receipts in excess of $1,500,000 individually and $5,000,000 in the aggregate for any Fiscal Year or (e) (A) the closing of any underwritten public offering or direct listing of the Borrower's capital securities pursuant to an effective registration statement under the Securities Act of 1933, as amended, on the New York Stock Exchange, the Nasdaq Stock Market, or another exchange or marketplace or (B) the consummation of any merger or consolidation with a special purpose acquisition corporation or other entity, resulting in the capital stock of the combined company being listed on the New York Stock Exchange, the Nasdaq Stock Market, or another exchange or marketplace.

"<u>Prepayment Notice</u>" means a written notice by the Borrower in accordance with the terms of <u>Section 2.4</u> and substantially in the form of <u>Exhibit H</u> hereto.

"<u>Prepayment Premium</u>" has the meaning set forth in <u>Section 2.4(c)</u>.

"<u>Prior Indebtedness</u>" has the meaning given to it in the recitals.

"<u>Prepayment Premium Percentage</u>" means, with respect to a payment, prepayment or acceleration of all or any portion of the Term Loans occurring on and after the twelve (12) month anniversary of the Closing Date and prior to the twenty-four (24) month anniversary of the Closing Date, one percent (1.00%), and on and after the twenty-four (24) month anniversary of the Closing Date, zero percent (0%).

"<u>PTE</u>" means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.

"<u>Publicity Materials</u>" has the meaning set forth in <u>Section 11.18</u>.

"<u>Qualified Cash</u>" means the aggregate amount of Cash held in Deposit Accounts of the Loan Parties to the extent that such Cash is held in a Deposit Account that is located (a) in the United States and that is further subject to a first priority perfected Lien in favor of Collateral Agent that is perfected pursuant to one or more Account Control Agreements or (b) outside of the United States, perfected pursuant to an agreement customary in such jurisdiction in form and substance reasonably satisfactory to the Collateral Agent (as directed by the Required Lenders).

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"<u>Real Property</u>" means any real property owned, leased, subleased or otherwise operated or occupied by any Loan Party or any Subsidiary of any Loan Party.

"<u>Recipient</u>" means Agent or any Lender, as applicable.

"<u>Register</u>" has the meaning given to it in <u>Section 11.7</u>.

"<u>Relevant Governmental Body</u>" means the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or any successor thereto.

"<u>Resolution Authority</u>" mean an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

"<u>Required Lenders</u>" means at any time, the holders of more than 50% of the unpaid principal amount of the Term Loans then outstanding.

"<u>Related Parties</u>" means, with respect to any Person, such Person's Affiliates and the partners, directors, officers, employees, counsel, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person's Affiliates.

"<u>Reportable Event</u>" means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day notice period has been waived.

"<u>Sanctioned Country</u>" means, at any time, a country or territory which is the subject or target of any Sanctions (as of the Closing Date, the so-called Donetsk People's Republic, the so-called Luhansk People's Republic, the Crimea Region of Ukraine, Cuba, Iran, North Korea and Syria).

"<u>Sanctioned Person</u>" means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or by the United Nations Security Council, the European Union or any EU member state, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person controlled by any such Person.

"<u>Sanctions</u>" means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union or Her Majesty's Treasury of the United Kingdom.

"<u>Secured Obligations</u>" has the meaning assigned to such term in the Guaranty and Security Agreement.

"<u>Securities Account</u>" means any "securities account" as such term is defined in the UCC.

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"<u>Security Documents</u>" means the Guaranty and Security Agreement, the Account Control Agreements, the Mortgages, if any, and each other security agreement or other instrument or document executed and delivered to the Collateral Agent pursuant to this Agreement or any other Loan Document granting a Lien to secure any of the Obligations.

"<u>Solvent</u>" means, with respect to Borrower and its Subsidiaries, on a consolidated basis, that as of the date of determination, (a) the sum of Borrower's and its Subsidiaries' debts (including contingent liabilities) does not exceed the present fair saleable value of Borrower's and its Subsidiaries' present assets; (b) Borrower's and its Subsidiaries' capital is not unreasonably small in relation to their businesses as contemplated on the date of determination; and (c) Borrower and its Subsidiaries have not incurred and do not intend to incur, or believe that they will incur, debts including current obligations beyond their ability to pay such debts as they become due (whether at maturity or otherwise). For purposes of this definition, the amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of whether such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5).

"<u>Subsidiary</u>" means, with respect to any Person, an entity, whether corporate, partnership, limited liability company, joint venture or otherwise, in which such Person owns or controls, directly or indirectly, 50% or more of the outstanding voting securities. Unless otherwise indicated, all references to "Subsidiary" hereunder shall mean a Subsidiary of the Borrower.

"<u>Taxes</u>" means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

"<u>Term Loan Advance</u>" means an advance of Term Loans made on the Closing Date pursuant to <u>Section 2.1(a)</u>.

"<u>Term Loan</u>" has the meaning set forth in <u>Section 2.1(a)</u>.

"<u>Term Loan Commitment</u>" means as to Lender, the obligation of Lender to make a Term Loan to Borrower in a principal amount not to exceed the amount set forth under the heading "Term Loan Commitment" opposite such Lender's name on <u>Schedule 1.1</u>. As of the Closing Date, the aggregate Term Loan Commitments total $115,000,000.

"<u>Term Note</u>" means a Secured Term Promissory Note in substantially the form of <u>Exhibit B</u>.

"<u>Test Period</u>" shall mean, at any time, the trailing twelve consecutive Fiscal Months of Borrower then last ended (in each case taken as one accounting period) for which the most recent financial statements have been or are required to be delivered pursuant to <u>Section 7.1</u>.

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"<u>Transaction Expenses</u>" means any costs, fees or expenses incurred or paid by Borrower or any of its Subsidiaries in connection with the Transactions (including pursuant to the Agent Fee Letter).

"<u>Transactions</u>" means (a) the consummation of the Closing Date Refinancing and (b) the negotiation, execution and delivery of this Agreement and the other Loan Documents.

"<u>Treasury Rate</u>" means (subject to a 0% floor) with respect to the Make Whole Amount, as of the date of the prepayment notice with respect to such payment, prepayment or acceleration, a rate equal to the weekly average yield as of the date of the relevant prepayment notice on actually traded U.S. Treasury securities adjusted to a constant maturity of one year (as published in The Wall Street Journal Money Rates Section or, if The Wall Street Journal ceases quoting such rate, as compiled and published in the most recent Federal Reserve Statistical Release H.15 (or is obtainable from the Federal Reserve System's Data Download Program as of the date of such H.15) that has become publicly available at least two Business Days prior to such date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)).

"<u>UBER</u>" means UBER Technologies, Inc.

"<u>Uber Guaranty</u>" means that certain Guaranty, dated as of October 5, 2023, by and among the Administrative Agent, Collateral Agent and UBER, as amended, restated, supplemented or otherwise modified from time to time.

"<u>UCC</u>" means the Uniform Commercial Code as in effect from time to time in the State of New York; provided, however, that if a term is defined in Article 9 of the Uniform Commercial Code differently than in another Article thereof, the term shall have the meaning set forth in Article 9; provided further that, if by reason of mandatory provisions of law, perfection, or the effect of perfection or non-perfection, of a security interest in any Collateral or the availability of any remedy hereunder is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, "Uniform Commercial Code" means the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to such perfection or effect of perfection or non-perfection or availability of such remedy, as the case may be.

"<u>UK Financial Institution</u>" means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

"UK Resolution Authority" means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.

"<u>UK</u>" shall mean the United Kingdom.

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"<u>Unadjusted Benchmark Replacement</u>" means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

"<u>United States</u>" and "<u>U.S.</u>" mean the United States of America.

"<u>U.S. Borrower</u>" means any Borrower that is a U.S. Person.

"<u>U.S. Person</u>" means any Person that is a "United States person" as defined in Section 7701(a)(30) of the Code.

"<u>U.S. Tax Compliance Certificate</u>" has the meaning specified in <u>Section 2.7(d)</u>.

"<u>Withholding Agent</u>" means Borrower and Agent.

"<u>Write-Down and Conversion Powers</u>" means (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Terms of Construction</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>General</u>. Unless otherwise specified, all references in this Agreement or any Annex or Schedule hereto to a "Section," "subsection," "Exhibit," "Annex," or "Schedule" shall refer to the corresponding Section, subsection, Exhibit, Annex, or Schedule in or to this Agreement. Unless otherwise specifically provided herein, any accounting term used in this Agreement or the other Loan Documents shall have the meaning customarily given such term in accordance with GAAP, and all financial computations hereunder shall be computed in accordance with GAAP, consistently applied. Unless otherwise defined herein or in the other Loan Documents, terms that are used herein or in the other Loan Documents and defined in the UCC shall have the meanings given to them in the UCC.

&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>Accounting Standards</u>. Notwithstanding anything to the contrary in this Agreement or any other Loan Document, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made without giving effect to any treatment of Indebtedness in respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof. For the

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avoidance of doubt, and without limitation of the foregoing, Permitted Convertible Indebtedness shall at all times be valued at the full stated principal amount thereof and shall not include any reduction or appreciation in value of the shares deliverable upon conversion 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;Divisions. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware Law (or any comparable event under a different jurisdiction's Laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;Times of Day. Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;Administrative Agent Decision Making. Notwithstanding anything else contained herein or any other Loan Document to the contrary, prior to the Notice of Successor Agent Effective Date, to the extent any document, action, report or other item requires the discretion of the Administrative Agent or is required to be reasonably satisfactory or acceptable to the Administrative Agent, the Administrative Agent shall act and otherwise take direction from the Required Lenders.

**SECTION 2 THE LOAN**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Term Loan Advance</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 Commitments</u>. Subject to the terms and conditions of this Agreement, Lender has agreed to make a loan (collectively, the "**Term Loan**" or the "**Term Loans**") in an original principal amount of such Lender's Term Loan Commitments on the Closing Date. After the funding of the Term Loans on the Closing Date, the Term Loan Commitments shall immediately and automatically be terminated. Amounts borrowed which are repaid or prepaid may not be reborrowed.

&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>Advance Request</u>. Borrower shall complete, sign and deliver to Administrative Agent and Lender an Advance Request prior to 3:00 p.m., New York time, at least one (1) Business Day before the Advance Date. Lender shall fund the Term Loan Advance in the manner requested by the Advance Request; provided, that each of the conditions precedent to such Term Loan Advance is satisfied as of the respective Advance 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest</u>. The unpaid principal balance of the Term Loans shall bear interest during each Interest Period at a rate per annum that shall at all times be equal to 10.00% (the "<u>Interest Rate</u>"); provided, that immediately following an Event of Default, the Interest Rate shall increase as provided in <u>Section 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments</u>. On each Interest Payment Date, Borrower shall pay all accrued and unpaid interest, in cash, in immediately available funds, in arrears, calculated based on the

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Interest Rate and the outstanding principal balance of the Loan (each an "<u>Interest Payment</u>"). The entire principal balance of the Term Loans and all accrued but unpaid interest hereunder, shall be due and payable on the Maturity Date. Borrower shall make all payments under this Agreement without setoff, recoupment or deduction and regardless of any counterclaim or defense. Except as otherwise specifically provided herein, all payments under this Agreement shall be made to the Administrative Agent by wire transfer to the account listed on each payment notice delivered to the Borrower by the Administrative Agent or to such other account as the Administrative Agent shall specify in a notice to the Borrower, for the account of the Lenders entitled thereto not later than 3:00 p.m. (New York City time) on the date when due and shall be made in immediately available funds. Whenever any payment to be made hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day and, with respect to payments of principal, interest shall be payable at the applicable rate during such extension.

&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;<u>Computation of Interest</u>. Interest on the Term Loans owing to Lender shall be computed on the basis of a 365-day year, and shall be charged for the actual number of days elapsed during any Interest Period or other accrual period. For the avoidance of doubt, no date of payment shall be included in any computation.

&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;<u>Agent Fees</u>. The Borrower agrees to pay to the Agent the fees in the amounts and on the dates set forth in the Agent Fee Letter and to perform any other obligations contained therein. All such fees shall be fully earned on the date paid or the Closing Date, as applicable, and shall be nonrefundable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Maximum Interest</u>. Notwithstanding any provision in this Agreement or any other Loan Document, it is the parties' intent not to contract for, charge or receive interest at a rate that is greater than the maximum rate permissible by law that a court of competent jurisdiction shall deem applicable hereto (which under the laws of the State of New York shall be deemed to be the laws relating to permissible rates of interest on commercial loans) (the "Maximum Rate"). If a court of competent jurisdiction shall finally determine that Borrower have actually paid to Lender an amount of interest in excess of the amount that would have been payable if all of the Secured Obligations had at all times borne interest at the Maximum Rate, then such excess interest actually paid by Borrower shall be applied as follows: first, to the payment of the Secured Obligations consisting of the outstanding principal; second, after all principal is repaid, to the payment of Lender's accrued interest, costs, expenses, professional fees and any other Secured Obligations; and third, after all Secured Obligations are repaid, the excess (if any) shall be refunded to Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Default Interest</u>. In the event any payment is not paid on the scheduled payment date and upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in <u>Section 2.1(c)</u>, plus 2.00% per annum (such rate, the "<u>Default Rate</u>"). In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in <u>Section 2.1(c)</u> or <u>Section 2.3</u>, as applicable.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Prepayment</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>Optional Prepayment</u>. At its option upon delivery of an irrevocable written notice to the Administrative Agent and Lender in the form of <u>Exhibit F</u> (a "<u>Prepayment Notice</u>") prior to 3:00 p.m. New York time at least five (5) Business Days prior to the requested date of prepayment, Borrower may at any time or from time to time voluntarily prepay all or a portion of the outstanding Loans without premium or penalty except as provided in <u>Section 2.4(c)</u> hereof; provided that each prepayment shall be in a minimum amount of $2,500,000 or, if less, the entire principal amount thereof then outstanding. Each Prepayment Notice shall specify the date and the aggregate principal amount of such prepayment. Any prepayment shall be accompanied by all interest accrued to and including the date of such prepayment on the principal amount prepaid, together with any additional Secured Obligations due and payable in connection therewith, including the Prepayment Premium provided in <u>Section 2.4(c)</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;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Mandatory Prepayment</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;(i)&nbsp;&nbsp;&nbsp;&nbsp;Asset Sales/Casualty/Incurrence of Indebtedness/Extraordinary Receipts. Within five (5) Business Days of receipt by Borrower or any Subsidiary of any Net Cash Proceeds or Extraordinary Receipts, as applicable, from a Prepayment Event (other than in the case of any event described in <u>clause (e)</u> of the definition of the term "Prepayment Event"), Borrower shall prepay the outstanding Loans in an amount equal to 100% of such Net Cash Proceeds or Extraordinary Receipts, as applicable, together with the applicable Prepayment Premium; provided, that, in the case of any such event described in <u>clause (a)</u> and <u>(b)</u> of the definition of the term "Prepayment Event", so long as no Event of Default has occurred and is continuing, no prepayment shall be required with respect to a Prepayment Event to the extent that, within 180 days (or such later date, if a binding commitment is entered into prior to such 180<sup>th</sup> day to replace such assets using such Net Cash Proceeds, and such assets are replaced within 90 days of such commitment) following receipt of Net Cash Proceeds from such Prepayment Event, such Net Cash Proceeds are used to repair or replace the assets disposed of, or subject to such casualty event, or to acquire other assets or property (other than working capital), in each case necessary or useful to Borrower's or any Subsidiary's business and provided that the Agent shall have a first-priority Lien thereon to the extent the assets disposed of constitute Collateral (subject to 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Public Company Event. Within two (2) Business Days of receipt by Borrower or any Subsidiary of any Net Equity Proceeds from an event described in <u>clause (e)</u> of the definition of the term "Prepayment Event", Borrower shall prepay the outstanding Loans, together with the applicable Prepayment Premium, and all other then outstanding Obligations in an amount equal to the lesser of (A) 100% of such Net Equity Proceeds and (B) the aggregate amount required to prepay all such Obligations (other than any obligations that specifically survive termination) in full in cash.

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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;At least one (1) Business Day prior to the date such prepayment is to be made, Borrower agrees to provide the Administrative Agent (which Administrative Agent shall provide to Lender) prior to 3:00 p.m. New York time with a Prepayment Notice including prepayment calculations used by Borrower in determining the amount of any such prepayment under this <u>Section 2.4(b)</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;<u>Prepayment Premium</u>. Notwithstanding anything herein to the contrary, if (w) all or any portion of the Term Loans is paid or prepaid (or is required to be paid or prepaid) pursuant to <u>Section 2.4(a)</u> or <u>Section 2.4(b)</u> or otherwise for any reason, any optional or voluntary prepayment, any Change in Control (or acceleration following the occurrence thereof) or mandatory prepayment, and distribution in respect thereof, and any refinancing thereof, in each case, whether in whole or in part, voluntary or involuntary, and whether before or after (i) the occurrence and continuance of an Event of Default, or (ii) the commencement of any Insolvency Proceeding, and notwithstanding (x) the acceleration of the Obligations pursuant to the terms of this Agreement for any reason (whether or not such acceleration occurs automatically), including acceleration as a result of any Event of Default, including, without limitation, the commencement of an Insolvency Proceeding, (y) the satisfaction, release, payment, restructuring, reorganization, replacement, reinstatement, defeasance or compromise of any of the Secured Obligations in any Insolvency Proceeding, foreclosure (whether by power of judicial proceeding or otherwise) or deed in lieu of foreclosure or the making of a distribution of any kind in any Insolvency Proceeding to Agent, for the account of Lender in full or partial satisfaction of the Secured Obligations, or (z) the termination of this Agreement for any reason (the occurrence of any of the events set forth in the foregoing clauses <u>(w)</u> through <u>(z)</u>, each a "<u>Premium Event</u>"), then Agent shall be paid, for the benefit of Lender holding such Term Loans as an inducement for making the Term Loans (and not as a penalty) an amount (such amount pursuant to <u>clause (i)</u> or <u>clause (ii)</u> below, as applicable, the "Prepayment Premium") equal to (i) prior to the twelve (12) month anniversary of the Closing Date, an amount equal to the Make Whole Amount and (ii) on and after the twelve (12) month anniversary of the Closing Date, the Prepayment Premium Percentage, multiplied by the amount of the principal amount of the portion of the Term Loans so paid or prepaid (or required to be paid or prepaid), which Prepayment Premium shall be fully earned, and due and payable, on (a) the date of any such payment or prepayment, (b) the date the Secured Obligations are accelerated (whether or not such acceleration occurs, or is deemed to occur, automatically), (c) the date of any other Premium Event, or (d) the date such payment or prepayment is required to be made, as applicable, and non-refundable when made. The parties hereto further acknowledge and agree that the Prepayment Premium is not intended to act as a penalty or to punish the Loan Parties for any such repayment or prepayment. Any prepayment, repayment, satisfaction, release, restructuring, reorganization, replacement, reinstatement, defeasance or compromise, whether voluntary or involuntary, of the Loans upon the occurrence of any Premium Event shall be accompanied by all accrued interest on the principal amount prepaid or repaid, together with the Prepayment Premium, as applicable pursuant to this <u>Section 2.4(c)</u>, if any. Without limiting the generality of the foregoing and notwithstanding anything to the contrary in this Agreement or any Loan Document, it is understood and agreed that if the Secured Obligations are accelerated as a result of the occurrence and continuance of any Event of Default (including by operation of law or otherwise), the Prepayment Premium, if any, determined as of the date of acceleration,

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will also be due and payable and will be treated and deemed as though the applicable Loans were prepaid as of such date and shall constitute part of the Secured Obligations for all purposes herein. The Prepayment Premium, if any, shall also be payable in the event the Secured Obligations (and/or this Agreement) are satisfied or released by foreclosure (whether by power of judicial proceeding), deed in lieu of foreclosure or by any other means. THE LOAN PARTIES EXPRESSLY WAIVE THE PROVISIONS OF ANY PRESENT OR FUTURE STATUTE OR LAW THAT PROHIBITS OR MAY PROHIBIT THE COLLECTION OF THE FOREGOING PREPAYMENT PREMIUM IN CONNECTION WITH ANY SUCH ACCELERATION. The Loan Parties expressly agree that (i) the Prepayment Premium is reasonable and is the product of an arm's length transaction between sophisticated business people, ably represented by counsel, (ii) the Prepayment Premium shall be payable notwithstanding the then prevailing market rates at the time payment is made, (iii) there has been a course of conduct between Lender and the Loan Parties giving specific consideration in this transaction for such agreement to pay the Prepayment Premium, (iv) the agreement to pay the Prepayment Premium is a material inducement to Lender to make the Loans hereunder, and (v) the Prepayment Premium represents a good faith, reasonable estimate and calculation of the lost profits or damages of Lender and that it would be impractical and extremely difficult to ascertain the actual amount of damages to Lender or profits lost by Lender as a result of such Premium Event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Notes</u>. If so requested by Lender by written notice to Borrower, then Borrower shall execute and deliver to Lender (and/or, if applicable and if so specified in such notice, to any Person who is an assignee of Lender pursuant to <u>Section 11.13</u>) (promptly after Borrower's receipt of such notice) a Term Note or Term Notes to evidence Lender's Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Pro Rata Treatment; Application of Payments</u>. Each payment (including prepayment) on account of any fee and any reduction of the Term Loan Advance shall be made pro rata according to the Term Loan Commitments of the Lenders. The Term Loan Advance shall be made pro rata according to the Term Loan Commitments of the Lenders. Payments shall be applied, first to the payment of all fees, expenses, indemnities or other liabilities of any kind owed to the Agent under the Loan Documents and second, to payment of any other Secured Obligations in such order as the Lenders shall elect. Borrower shall not have a right to specify the order or the accounts to which Lender shall allocate or apply any payments made by Borrower to Lender or otherwise received by Lender under this Agreement when any such allocation or application is not expressly specified elsewhere in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7&nbsp;&nbsp;&nbsp;&nbsp;<u>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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Withholding</u>. Any and all payments by or on account of any obligation of Borrower under any Loan Document will be made free and clear of and without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the good faith discretion of an applicable Withholding Agent) requires a Withholding Agent to make any withholding or deduction of any Tax from any such payment, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, to the extent such Tax is an Indemnified Tax,

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then the sum payable by Borrower hereunder shall be increased to the extent necessary to ensure that, after the making of such required withholding or deduction (including such deductions and withholdings applicable to additional sums payable under this Section), Agent or Lender, as applicable receives an amount equal to the sum which it would have received had no such withholding or deduction been made. Borrower will, upon request, furnish Agent with proof reasonably satisfactory to Agent (acting at the direction of the Required Lenders) indicating that Borrower has timely made such withholding payment.

&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>Payment of Other Taxes by Borrower</u>. Borrower shall timely pay, or otherwise cause to be timely paid, to the relevant Governmental Authority in accordance with applicable law, or at the option of Agent timely reimburse it for the payment of, any Other Taxes.

&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>Indemnification by Borrower</u>. Borrower shall indemnify each Recipient, within ten (10) days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to Borrower by a Lender (with a copy to Agent), or by Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error.

&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;<u>Status of Lenders</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;(i)&nbsp;&nbsp;&nbsp;&nbsp;Any Recipient that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to Borrower and Agent (if such Recipient is not the Agent), at the time or times reasonably requested by Borrower or Agent, as applicable, such properly completed and executed documentation reasonably requested by Borrower or Agent, as applicable, as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Recipient if reasonably requested by Borrower or Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by Borrower or Agent as will enable Borrower or Agent to determine whether or not such Recipient is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in paragraphs <u>2.7(d)(ii)(A)</u>, <u>2.7(d)(ii)(B)</u> and <u>2.7(d)(ii)(D)</u> of this Section) shall not be required if in the Recipient's reasonable judgment such completion, execution or submission would subject such Recipient to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Recipient.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Without limiting the generality of the foregoing, in the event that Borrower is a U.S. Borrower,

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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;(A)&nbsp;&nbsp;&nbsp;&nbsp;any Recipient that is a U.S. Person shall deliver to Borrower and Agent (if such Recipient is not the Agent) on or about the date on which such Recipient becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of Borrower or Agent), executed copies of IRS Form W-9 certifying that such Recipient is exempt from U.S. federal backup withholding tax;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to Borrower and Agent (in such number of copies as shall be requested by the recipient) on or about the date on which such Foreign Lender becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of Borrower or Agent), whichever of the following is 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;&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 a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the "interest" article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the "business profits" or "other income" article of such tax treaty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;executed copies of IRS Form W-8ECI; 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;(3)&nbsp;&nbsp;&nbsp;&nbsp;in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) an executed certificate substantially in the form of <u>Exhibit E-1</u> to the effect that such Foreign Lender is not a "bank" within the meaning of Section 881(c)(3)(A) of the Code, a "10 percent shareholder" of Borrower within the meaning of Section 871(h)(3)(B) of the Code, or a "controlled foreign corporation" related to Borrower as described in Section 881(c)(3)(C) of the Code (a "<u>U.S. Tax Compliance</u> <u>Certificate</u>") and (y) executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E;

provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the

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form of <u>Exhibit E-2</u> on behalf of each such direct and indirect partner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to Borrower and Agent (in such number of copies as shall be requested by the recipient) on or about the date on which such Foreign Lender becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of Borrower or Agent), executed copies of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit Borrower or Agent to determine the withholding or deduction required to be made; 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;(D)&nbsp;&nbsp;&nbsp;&nbsp;if a payment made to a Recipient under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Recipient were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Recipient shall deliver to Borrower and Agent (if such Recipient is not the Agent) at the time or times prescribed by law and at such time or times reasonably requested by Borrower or Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by Borrower or Agent as may be necessary for Borrower and Agent to comply with their obligations under FATCA and to determine that such Recipient has complied with such Recipient's obligations under FATCA or to determine the amount, if any, to deduct and withhold from such payment. Solely for purposes of this <u>clause (D)</u>, "FATCA" shall include any amendments made to FATCA after the date of this Agreement.

Each Recipient agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify Borrower and Agent (if such Recipient is not the Agent) in writing of its legal inability to do so.

&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;Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section (including by the payment of additional amounts pursuant to this Section), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (D) (plus any penalties, interest or other charges imposed by the relevant

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Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (D), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (D) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person.

&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;As soon as practicable after any payment of Taxes by the Borrower to a Governmental Authority pursuant to this Section, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent.

&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>Survival</u>. Each party's obligations under this Section shall survive the resignation or replacement of Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Term Loan Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document.

&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;[Reserved].

&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>Defined Terms</u>. For purposes of this <u>Section 2.7</u>, the term "applicable law" includes FATCA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8&nbsp;&nbsp;&nbsp;&nbsp;<u>[Reserved]</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Mitigation of Obligations</u>. If any Lender requests compensation or requires the Borrower to pay any Indemnified Taxes or additional amounts to such Lender or any Governmental Authority for the account of such Lender pursuant to <u>Section 2.7</u>, then such Lender shall (at the request of the Borrower) use reasonable efforts to designate a different lending office for funding or booking its Term Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable to any Recipient pursuant to <u>Section 2.7</u> in the future (and the aggregate amount of such eliminated or reduced amounts resulting from such designation or assignment would not exceed the amount Borrower would be required to pay under this <u>Section 2.9</u> with respect to such designation or assignment), and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be materially disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable out-of-pocket costs and expenses incurred by any Lender in connection with the effectuation of any such designation or assignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Closing Fee</u>. On the Closing Date, Borrower shall pay (or cause to be paid) to the Administrative Agent (for further distribution to the Lenders on a pro rata basis in accordance

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with their respective Term Loan Commitments as of the Closing Date) a non-refundable closing fee (the "<u>Closing Fee</u>") of $2,300,000 (equal to 2.00% of the aggregate principal amount of Term Loans Commitments as of the Closing Date). The Closing Fee will be earned and due and payable in full on the Closing Date and will not be refundable under any circumstances.

**SECTION 3 [RESERVED]**

**SECTION 4 CONDITIONS PRECEDENT**

The obligations of Lender to make the Loan hereunder are subject to the satisfaction by Borrower of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Initial Term Loan Advance</u>. On or prior to the Closing Date, Borrower shall have delivered to Administrative Agent 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Loan Documents</u>. Administrative Agent shall have received duly executed copies of the following, in form and substance reasonably acceptable to Administrative Agent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Agent Fee Letter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;customary legal opinions from (x) Latham & Watkins LLP, counsel to the Loan Parties, and (y) Covington & Burling LLP, counsel to UBER, in each case, addressed to the Administrative Agent, Collateral Agent and the Lenders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;a Perfection Certificate, Guaranty and Security Agreement, each Security Document (other than any Mortgage) and each other Loan Document; 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;(v)&nbsp;&nbsp;&nbsp;&nbsp;all other documents and instruments reasonably required by Administrative Agent and Lender to effectuate the Transactions contemplated hereby or to create and perfect the Liens of Collateral Agent with respect to all Collateral.

&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>Secretary's Certificate</u>. Administrative Agent shall have received a certificate from each Loan Party, dated the Closing Date and signed by an Authorized Officer of such Loan Party, and attested to by the secretary or any assistant secretary of such Loan Party, with appropriate insertions and attachments, including (x) copies of the Organizational Documents, (y) the resolutions of such Loan Party referred to in such certificate, and (z) (A) a signature and incumbency certificate to the officers of such persons who have been authorized by such resolutions to execute the Loan Documents on behalf of such Loan Party executing the Loan Documents, in each case, each of the foregoing shall be in form and substance reasonably acceptable to the Administrative Agent and (B) certificates of good standing or status (to the extent that such concepts exist) from the applicable secretary of state (or equivalent authority) or

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other relevant Governmental Authority of the jurisdiction of organization or formation of each Loan Party (in each case, to the extent 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;Stock Certificates / Powers. For each Equity Interest that is certificated, Collateral Agent shall have received all originals certificates evidencing all Equity Interest pledged pursuant to Guaranty and Security Agreement (if applicable), together with any transfer powers or other instruments of transfer, in form and substance reasonably acceptable to Collateral Agent.

&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;<u>Fees / Expenses</u>. (i) Each Agent and Lender shall have received, or substantially concurrently with the initial borrowing of Term Loans under this Agreement shall receive (including by way of offset against the proceeds of the Term Loans advanced on the Closing Date), payment for all fees and reasonable and documented out-of-pocket expenses (including the Transaction Expenses) required to be paid on the Closing Date pursuant to any Loan Document that are invoiced to Borrower at least one (1) Business Day prior to the Closing Date and (ii) each Lender shall have received the Closing Fee.

&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;<u>[Reserved]</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;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>[Reserved]</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;(g)&nbsp;&nbsp;&nbsp;&nbsp;Closing Date Refinancing. The (x) Closing Date Refinancing shall have been consummated, or substantially simultaneously with the making of the initial funding of the Term Loans hereunder shall be consummated and (y) all Prior Indebtedness shall have been, or substantially simultaneously with the making of initial funding of the Term Loans hereunder shall be paid in full, all commitments (if any) in respect thereof terminated and all guarantees (if any) thereof and Liens (if any) in respect thereof discharged and released.

&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;<u>Officer's Certificate</u>. Administrative Agent shall have received a customary closing certificate, dated the Closing Date and signed by Authorized Officer of Borrower, confirming the accuracy of the conditions set forth in <u>Section 4.1(g)</u>, <u>Section 4.2(b)</u> and <u>Section 4.3</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;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Solvency Certificate</u>. Administrative Agent shall have received a Solvency Certificate in the form of <u>Exhibit F</u>, dated as of the Closing Date and signed by the Authorized Officer of Borrower.

&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;<u>Lien and Intellectual Property Searches</u>. Administrative Agent shall have received the results of (x) a recent lien search report in such jurisdictions as may be reasonably requested by Administrative Agent and such reports shall reflect no Liens other than Permitted Liens, (y) recent Intellectual Property searches and (z) any other searches deemed necessary by Administrative Agent.

&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;<u>KYC Information</u>. (i) Upon the reasonable request of any Lender or Agent, as applicable, made at least three (3) days prior to the Closing Date, Borrower shall have provided to such Lender the documentation and other information so requested in connection

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with applicable "know your customer" and anti-money-laundering rules and regulations, including the PATRIOT Act and a copy of a properly completed and signed IRS Form W-8 or W-9 (or other applicable tax form), as applicable, for the Borrower, in each case at least three (3) days prior to the Closing Date, and (ii) at least three (3) days prior to the Closing Date, Borrower shall deliver a Beneficial Ownership Certification in relation to such Borrower.

&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;<u>[Reserved]</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;(m)&nbsp;&nbsp;&nbsp;&nbsp;<u>[Reserved]</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;(n)&nbsp;&nbsp;&nbsp;&nbsp;<u>Subordination Agreements</u>. Administrative Agent shall have received executed copies of (i) a Subordination and Intercreditor Agreement, dated as of the Closing Date, which shall subordinate obligations of the Borrower and its affiliates under the 2021 Convertible Notes to the prior payment in full of the Obligations, (ii) a Subordination and Intercreditor Agreement, dated as of the Closing Date, which shall subordinate obligations of the Borrower and its affiliates under the 2020 Convertible Notes to the prior payment in full of the Obligations and (iii) a Consent and Waiver, dated of the Closing Date, with respect to the Note and Warrant Purchase Agreement, dated as of May 7, 2020, under which, among other things, the lenders thereunder shall consent to the subordination of the obligations of the Borrower and its affiliates under such agreement to the prior payment in full of the Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>All Advances</u>. On the Advance 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Notice of Borrower. Administrative Agent shall have received (i) an Advance Request for the relevant Advance as required by <u>Section 2.1(b)</u>, duly executed by Borrower's Chief Executive Officer or Chief Financial Officer and (ii) any other documents Administrative Agent or Lender may reasonably 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;Representations and Warranties. The representations and warranties set forth in this Agreement shall be true and correct in all material respects (or, if qualified by "materiality", "Material Adverse Effect" or similar language, in all respects (after giving effect to such qualification)) on and as of the Advance Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date which shall be true and correct in all material respects as of such earlier 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Advance Request</u>. Each Advance Request shall be deemed to constitute a representation and warranty by Borrower on the relevant Advance Date as to the matters specified in <u>subsections (b)</u> of this <u>Section 4.2</u> and as to the matters set forth in the Advance Request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>No Event of Default / MAE</u>. As of the Closing Date and each Advance Date, (i) no fact or condition exists that could (or could reasonably be expected to, with the passage of time, the giving of notice, or both) constitute an Event of Default, and no Event of Default has occurred and is continuing and (ii) no Material Adverse Effect has occurred and is continuing.

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**SECTION 5 REPRESENTATIONS AND WARRANTIES**

To induce each Agent and each Lender to enter into this Agreement and to make the Loans and other credit accommodations contemplated hereby, Borrower (and, as applicable, each Loan Party) hereby represents and warrants, on behalf of itself and, as applicable, each of its Subsidiaries, to each Agent and each Lender that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Organizational Status and Power</u>. Each Loan Party is (i) a corporation, limited liability company, partnership or limited partnership, or similar organization, duly incorporated, organized or formed, validly existing and, where applicable, (ii) in good standing (or the local equivalent) under the laws of its jurisdiction of organization (or local equivalent), (iii) duly qualified as a foreign corporation, limited liability company or partnership, as the case may be, in all jurisdictions in which the nature of its business or location of its properties require such qualifications and (iv) has all requisite power and authority and all requisite governmental licenses, permits, authorizations, consents and approvals to (x) own or lease its assets and carry on its business as currently conducted or proposed to be conducted and (y) solely with respect to the Loan Parties, execute, deliver and perform its obligations under the Loan Documents to which it is a party to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. Borrower and each Subsidiary's present name, former names (if any), locations, place of formation, tax identification number, organizational identification number and other information are correctly set forth on <u>Schedule 5.1</u> (or as such Borrower has subsequently notified Administrative Agent after the Closing Date in accordance with this Agreement (including in any Compliance Certificate)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Collateral</u>. Borrower and each Loan Party owns the Collateral free of all Liens, except for Permitted Liens. Borrower and each Loan Party has the power and authority to grant to Collateral Agent a Lien in the Collateral as security for the Secured Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Material Adverse Effect</u>. Since the Closing Date, no Material Adverse Effect has occurred and is continuing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Litigation</u>. There are no actions, suits, proceedings, claims or disputes before any Governmental Authority now pending or, to the knowledge of Borrower, threatened against or

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affecting Borrower or any of its Subsidiaries or their property, that, except as set forth in Schedule 8 to the Perfection Certificate or, with respect to any such matters occurring after the Closing Date, as separately disclosed in writing by the Borrower to the Required Lenders from time to time, (a) has resulted in liability in excess of $1,000,000 individually or, other than ordinary course personal injury claims, $2,500,000 in the aggregate, (b) purport to affect or pertain to this Agreement or any other Loan Document, or any of the Transactions contemplated hereby, (c) could reasonably be expected to result in cessation of any material portion of the Borrower or any of its Subsidiaries Business or (d) either individually or in the aggregate, if determined adversely, could reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Laws</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;Neither Borrower nor any of its Subsidiaries is in violation of any law, rule or regulation, or in default with respect to any judgment, writ, injunction or decree of any Governmental Authority, where such violation or default (a) purport to affect or pertain to this Agreement or any other Loan Document, or any of the Transactions contemplated hereby, (b) could reasonably be expected to result in cessation of any material portion of the Borrower's or any of its Subsidiaries' Business or (c) either individually or in the aggregate, if determined adversely, could reasonably be expected to have a Material Adverse Effect. Neither Borrower nor any of its Subsidiaries is in default in any material respect in any manner under any provision of any agreement or instrument evidencing material Indebtedness, or any other material agreement to which it is a party or by which it is bound.

&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;None of the Loan Parties is required to be registered as an "investment company" within the meaning of the Investment Company 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;None of the proceeds from the Loans have been or will be used, directly or indirectly, for the purpose of purchasing or carrying any "margin stock" (under Regulations X, T and U of the Federal Reserve Board of Governors). Borrower and each of its Subsidiaries has complied in all material respects with the Federal Fair Labor Standards Act. Neither Borrower nor any of its Subsidiaries is a "holding company" or an "affiliate" of a "holding company" or a "subsidiary company" of a "holding company" as each term is defined and used in the Public Utility Holding Company Act of 2005. Neither Borrower nor any of its Subsidiaries' properties or assets have been used by Borrower or such Subsidiary in disposing, producing, storing, treating, or transporting any hazardous substance other than in material compliance with applicable laws. Borrower and each of its Subsidiaries has obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all Governmental Authorities that are necessary to continue their respective businesses as currently 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;None of Borrower, any of its Subsidiaries or, to Borrower's knowledge, any of Borrower's or its Subsidiaries' Affiliates or any of their respective agents acting or benefiting in any capacity in connection with the Transactions contemplated by this Agreement is (i) in violation of any Anti-Terrorism Law, (ii) engaging in or conspiring to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law, or (iii) is a Blocked Person. Neither Borrower nor and its Subsidiaries, Affiliates or agents, acting or benefiting in any

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capacity in connection with the Transactions contemplated by this Agreement, (x) conducts any business or engages in making or receiving any contribution of funds, goods or services to or for the benefit of any Blocked Person, or (y) deals in, or otherwise engages in any transaction relating to, any property or interest in property blocked pursuant to Executive Order No. 13224, any similar executive order or other Anti-Terrorism Law. None of the funds to be provided under this Agreement will be used, directly or indirectly, (a) for any activities in violation of any applicable anti-money laundering, economic sanctions and anti-bribery laws and regulations laws and regulations or (b) for any payment to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Information Correct and Current</u>. No information, report, Advance Request, financial statement, exhibit or schedule furnished, by or on behalf of Borrower to Administrative Agent in connection with any Loan Document or included therein or delivered pursuant thereto contained, or, when taken as a whole, contains or will contain any material misstatement of fact or, when taken together with all other such information or documents, omitted, omits or will omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were, are or will be made, not materially misleading at the time such statement was made or deemed made. Additionally, any and all financial or business projections provided by Borrower to Agent, whether prior to or after the Closing Date, shall be (i) provided in good faith and based on the most current data and information available to Borrower, and (ii) the most current of such projections provided to Borrower's Board represent Borrower's good faith estimate of future financial performance and are based on assumptions believed by Borrower at the time so delivered to be fair and reasonable in light of current market conditions, it being acknowledged and agreed by Agent and Lender that projections are not a guarantee of financial performance, are subject to significant uncertainties and contingencies, many of which are beyond Borrower's control, no assurance can be given that any particular financial projections will be realized, and projections as to future events are not to be viewed as facts and that the actual results during the period or periods covered by such projections may differ from the projected results and such differences may be material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Matters</u>. Except as set forth on <u>Schedule 5.8</u>, Borrower and each of its Subsidiaries has (a) filed all U.S. federal and state income tax returns and other material tax returns that it is required to file, (b) duly and timely paid, prior to delinquency, all U.S. federal and state income Taxes and other material Taxes or installments thereof (including any interest or penalties) required to be paid by Borrower or such Subsidiary (whether or not shown on the tax returns), except for any unpaid Taxes being contested in good faith and by appropriate proceedings and for which adequate reserves have been established in the books of the appropriate Person in accordance with GAAP, and (c) fully paid or reserved in accordance with GAAP for any material Tax assessment or deficiency imposed against Borrower or such Subsidiary for the four (4) years preceding the Closing Date, if any (including any Taxes being contested in good faith and by appropriate proceedings). Neither Borrower nor any of its Subsidiaries is subject to any audit, examination, proceeding, contest or other similar action with respect to Taxes or tax returns currently ongoing or threatened in writing which individually or in

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the aggregate would reasonably be expected to give rise to a Material Adverse Effect. There are no liens for Taxes upon any of the assets of the Borrower or any of its Subsidiaries other than any Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Intellectual Property Claims</u>. To Borrower's knowledge, Borrower and each Subsidiary is the sole owner of, or otherwise has the valid right to use, the Intellectual Property material to such Person's business. To Borrower's knowledge, each of the material Intellectual Property is valid and enforceable, no material part of the Intellectual Property of Borrower and its Subsidiaries has been judged invalid or unenforceable, in whole or in part, and no claim has been made to Borrower or, to Borrower's knowledge, to any of its Subsidiaries, that any material part of the Intellectual Property of Borrower and its Subsidiaries violates the rights of any third party. Neither Borrower, nor, to Borrower's knowledge, any of its Subsidiaries is in material breach of, nor has such Person failed to perform any material obligations under, any material contracts, licenses or agreements and, to Borrower's knowledge, no third party to any such contract, license or agreement is in material breach thereof or has failed to perform any material obligations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Intellectual Property</u>. To Borrower's knowledge, Borrower and each Subsidiary has all material rights with respect to Intellectual Property necessary or material in the operation or conduct of such Person's business as currently conducted and proposed to be conducted. Without limiting the generality of the foregoing, and in the case of licenses, except for restrictions that are unenforceable under Division 9 of the UCC, to Borrower's knowledge, Borrower and each Subsidiary has the right, to the extent required to operate such Person's business, to freely transfer, license or assign Intellectual Property necessary or material in the operation or conduct of such Person's business as currently conducted and proposed to be conducted, without condition, restriction or payment of any kind (other than license payments in the ordinary course of business) to any third party, and, to Borrower's knowledge, Borrower and each Subsidiary owns or has the right to use, pursuant to valid licenses, all software development tools, library functions, compilers and all other third-party software and other items that are material to such Person's business and used in the design, development, promotion, sale, license, manufacture, import, export, use or distribution of products except customary covenants in inbound license agreements and equipment leases where such Person is the licensee or lessee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Security Document</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;The Guaranty and Security Agreement creates in favor of the Collateral Agent, for the benefit of the Collateral Agent and Lender referred to therein, a legal, valid, continuing and enforceable security interest in the Collateral (as defined in the Guaranty and Security Agreement), subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors' rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. Upon the making of the filings contemplated in the Guaranty and Security Agreement and/or the obtaining of "control" (as defined in the UCC) of the Collateral under the Guaranty and Security Agreement, the Collateral Agent will have a perfected Lien on, and security interest in, to and under all right, title and interest of the Loan Parties thereunder in all Collateral that may be perfected under the

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UCC (in effect on the date this representation is made) by filing, recording or registering a financing statement or analogous document (including without limitation the proceeds of such Collateral subject to the limitations relating to such proceeds in the UCC) or by obtaining control, in each case prior and superior in right to any other Person (other than Permitted Liens which by operation of Law would have priority to the Liens securing the 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;If any Mortgage is executed and delivered to Collateral Agent, such Mortgage when executed will create in favor of the Collateral Agent, for the benefit of the Collateral Agent and Lender referred to therein, a legal, valid, continuing and enforceable security interest in the applicable mortgaged Real Property, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors' rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. If any Mortgage is executed and delivered to Collateral Agent, upon the recording of such Mortgage, the Collateral Agent will have a perfected Lien on, and security interest in, to and under all right, title and interest of the applicable Loan Parties thereunder in the applicable mortgaged Real Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Deposit Accounts, Securities Accounts and Commodities Accounts</u>. <u>Schedule 5.12</u>, as may be updated by Borrower in a written notice provided to Administrative Agent after the Closing Date, is a true, correct and complete list of all banks and other financial institutions at which Borrower or any of its Subsidiaries maintains any and all Deposit Accounts, Securities Accounts or Commodities Accounts, as applicable and lists out (a) the name and address of each bank or other institution, (b) the name in which the account is held, (c) a description of the purpose of the account, (d) the complete account number therefor and (e) whether such account is an Excluded Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Employee Loans</u>. Other than loans constituting Permitted Investments or loans under a Plan intended to qualify as a cash or deferred arrangement under Section 401(k) of the Code, neither Borrower nor any of its Subsidiaries has any outstanding loans to any employee, officer, manager or director of such Person, nor has Borrower or any of its Subsidiaries guaranteed the payment of any loan made to an employee, officer, manager or director of such Person by a third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Capitalization and Subsidiaries</u>. Borrower's and each of its Subsidiaries' capitalization as of the Closing Date is set forth on <u>Schedule 5.14</u> annexed hereto. Neither Borrower nor any of its Subsidiaries owns any stock, partnership interest or other securities of any Person, except for Permitted Investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Pledged Securities; Instruments</u>. All Equity Interests constituting Pledged Securities are validly issued, fully paid and non-assessable in all material respects. The execution, delivery and performance thereof and the pledge of and granting of a security interest in the Pledged Securities under the Guaranty and Security Agreement do not contravene any provision of the Organizational Documents of the issuer of such Equity Interests. All certificates representing Borrower's and each of its Subsidiaries' interest in Pledged Securities have been delivered to Collateral Agent, together with duly executed transfer powers or other appropriate instruments of transfer (each in form and substance satisfactory to Collateral Agent), duly

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executed in blank by Borrower or the applicable Subsidiary. As of the Closing Date, <u>Schedule 5.15</u> sets forth (i) a true and accurate schedule of all Pledged Securities and all Instruments owned by Borrower and each of its Subsidiaries, and (ii) a complete and accurate list of all consents, waivers, amendment or modification or other action to be taken in connection with the grant of the security interest pursuant to the terms of this Agreement in the Pledged Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Solvency</u>. After the Closing Date and after giving effect to the consummation of the Transactions, the Loan Parties, on a consolidated basis, are Solvent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Financial Condition</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;The Historical Financial Statements present fairly in all material respects the financial condition and income and cash flows of Borrower and its Subsidiaries on a consolidated basis as of the dates thereof and for the periods covered thereby and have been prepared in accordance with GAAP, consistently applied throughout the periods covered thereby. The Borrower has provided to Lender pro forma financial statements that give pro forma effect to the funding of the Loans and Transactions based on the Borrower's financial statements for 2022 and 2023 year to 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;All financial performance projections delivered to Administrative Agent, including the financial performance projections delivered on or prior to the Closing Date, represent Borrower's good faith estimate of future financial performance and are based on assumptions believed by Borrower at the time so delivered to be fair and reasonable in light of current market conditions, it being acknowledged and agreed by Administrative Agent and Lender that projections are not a guarantee of financial performance, are subject to significant uncertainties and contingencies, many of which are beyond Borrower's control, no assurance can be given that any particular financial projections will be realized, and projections as to future events are not to be viewed as facts and that the actual results during the period or periods covered by such projections may differ from the projected results and such differences may be material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Real Property</u>. <u>Schedule 5.18</u> hereto sets forth all Real Property owned or leased by the Borrower and each of its Subsidiaries as of the Closing Date (including whether or not such Real Property constitutes Material Real Property). The Borrower and each of its Subsidiaries has good and marketable fee simple title to, or valid leasehold interests in, or valid easements or other rights to use in, all Real Property necessary in the ordinary conduct of its business, free and clear of all Liens except (a) defects in title that do not materially interfere with its ability to conduct its business or to utilize such assets for their intended purposes, (b) Permitted Liens or (c) where the failure to have such title could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.19&nbsp;&nbsp;&nbsp;&nbsp;<u>ERISA Compliance</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;Except as would not reasonably be expected to have a Material Adverse Effect, (i) each Plan is in compliance with the applicable provisions of ERISA, the Code and

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other Federal or state laws, and (ii) each Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the Internal Revenue Service to the effect that the form of such Plan is qualified under Section 401(a) of the Code and the trust related thereto has been determined by the Internal Revenue Service to be exempt from federal income tax under Section 501(a) of the Code, or an application for such a letter is currently being processed by the Internal Revenue Service, and, to the knowledge of the Borrower, nothing has occurred that would adversely affect the qualified status of any such 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;There are no pending or, to the knowledge of the Borrower or any of its Subsidiaries, threatened claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan (other than routine claims for benefits) that would reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or would reasonably be expected to result in a Material Adverse Effect.

&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;Except as would not reasonably be expected to have a Material Adverse Effect, (i) no ERISA Event has occurred, and neither the Borrower nor any ERISA Affiliate is aware of any fact, event or circumstance that would reasonably be expected to constitute or result in an ERISA Event, in each case with respect to any Pension Plan or Multiemployer Plan; (ii) neither the Borrower nor any ERISA Affiliate has incurred any unsatisfied liability to the PBGC other than for the payment of premiums, and there are no premium payments which have become due that are unpaid; and (iii) neither the Borrower nor any ERISA Affiliate has engaged in a transaction described in Section 4069 or Section 4212(c) of ERISA.

&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;With respect to any Foreign Plan, none of the following events or conditions exists and is continuing that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect: (i) substantial non-compliance with its terms and with the requirements of any and all applicable laws, statutes, rules, regulations and orders; (ii) any obligation of the Borrower or its Subsidiaries in connection with the termination or partial termination of, or withdrawal from, any such Foreign Plan; (iii) any Lien on the property of the Borrower or its Subsidiaries in favor of a Governmental Authority as a result of any action or inaction regarding such a Foreign Plan; (iv) any pending or threatened disputes that, to the knowledge of the Borrower or any of its Subsidiaries, would reasonably be expected to result in a material liability to the Borrower or any of its Subsidiaries concerning the assets of any such Foreign Plan (other than individual claims for the payment of benefits); and (v) failure to make any contributions in a timely manner to the extent required by applicable non-U.S. law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Environmental Compliance</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;No Loan Party (i) has failed, within the preceding five (5) years, to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received written notice of any claim with respect to any Environmental Liability or (iv) knows of any basis for any Environmental Liability, except, in each case, as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;Except, in each case, as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect: (i) none of the properties currently or formerly owned or operated by any Loan Party is listed or proposed for listing on the NPL or on the CERCLIS or any analogous foreign, state or local list or is adjacent to any such property; (ii) there are no and, to the best knowledge of the Loan Parties, never have been any underground or above-ground storage tanks or any surface impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have been treated, stored or disposed on any property currently owned or operated by any Loan Party or, to the best of the knowledge of the Loan Parties, on any property formerly owned or operated by any Loan Party; (iii) to the best of the knowledge of the Loan Parties, there is no asbestos or asbestos-containing material on any property currently owned or operated by any Loan Party; (iv) and to the best of the knowledge of the Loan Parties, Hazardous Materials have not been released, discharged or disposed of on any property currently or formerly owned or operated by any Loan 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;Except, in each case, as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, no Loan Party is undertaking, and no Loan Party has completed, either individually or together with other potentially responsible parties, any investigation or assessment or remedial or response action relating to any actual or threatened release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the order of any Governmental Authority or the requirements of any Environmental Law. All Hazardous Materials generated, used, treated, handled or stored at, or transported to or from, any property currently or, to the best knowledge of the Loan Parties, formerly owned or operated by any Loan Party have been disposed of in a manner not reasonably expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.21&nbsp;&nbsp;&nbsp;&nbsp;<u>Insurance</u>. The properties of the Loan Parties are insured in accordance with <u>Section 6</u> hereof with financially sound and reputable insurance companies which are not Affiliates of the Loan Parties, in such amounts (after giving effect to any self-insurance compatible with the following standards), with such deductibles and covering such risks (including, without limitation, worker's compensation, commercial general liability, insurance on real and personal property and directors and officers liability insurance) as are reasonably determined by the Borrower and customarily carried by companies engaged in similar businesses and owning similar properties in localities where the Loan Parties operate. As of the Closing Date, each insurance policy is in full force and effect and all premiums in respect thereof that are due and payable have been paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Labor Matters</u>. Except as set forth on <u>Schedule 5.22</u>, as of the Closing Date, neither Borrower nor any of its Subsidiaries are a party to or bound by any collective bargaining agreement. There are no complaints, unfair labor practice charges, material grievances, material arbitrations, or any other claims or complaints against the Borrower or any of its Subsidiaries that are pending or, to the Borrower's knowledge, threatened to be filed with any Governmental Authority or arbitrator based on, arising out of, in connection with, or otherwise relating to the employment or termination of employment of any employee of Borrower or any of its Subsidiaries, which would individually or in the aggregate reasonably be expected to result in a Material Adverse Effect. Except as, individually or in the aggregate, would not reasonably be

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expected to have a Material Adverse Effect, (i) there are no strikes, lockouts, slowdowns or other labor disputes against the Borrower or any of its Subsidiaries pending or, to the knowledge of the Borrower or any of its Subsidiaries, threatened; (ii) the hours worked by and payments made to employees of the Borrower or any of its Subsidiaries comply with the Fair Labor Standards Act and any other applicable federal, state, local or foreign Law dealing with such matters; (iii) neither the Borrower nor any of its Subsidiaries has incurred any liability or obligation under the Worker Adjustment and Retraining Notification Act or similar state Law; and (iv) all payments due from Borrower or any of its Subsidiaries, or for which any claim may be made against Borrower or any of its Subsidiaries, on account of wages and employee health and welfare insurance and other benefits, have been paid or properly accrued in accordance with GAAP as a liability on the books of the Borrower or any of its Subsidiaries. Except as, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect or require any material cessation of the business of the Borrower or any of its Subsidiaries as currently conducted, each individual who is providing services to the Borrower or any of its Subsidiaries and is classified and treated as an independent contractor, is properly classified and treated as such for all applicable purposes, including but not limited to, for purposes of any applicable law, rule or regulation relating to wages and hours, Taxes, unemployment insurance, and workers' compensation.

**SECTION 6 INSURANCE; INDEMNIFICATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Coverage</u>. The Loan Parties shall cause to be carried and maintained commercial general liability insurance, on an occurrence form, against risks customarily insured against by companies in the same or similar businesses similarly situated operating in the same or similar locations. Such risks shall include the risks of bodily injury, including death, property damage, personal injury, advertising injury, and contractual liability. The Loan Parties must maintain a minimum of $10,000,000 of commercial general liability insurance for each occurrence. The Loan Parties have and agree to maintain a minimum of $10,000,000 of directors' and officers' insurance for each occurrence. So long as there are any Secured Obligations outstanding, The Loan Parties shall also cause to be carried and maintained insurance upon the business and assets of Borrower and each of its Subsidiaries, insuring against risks of physical loss or damage howsoever caused as are appropriate and customary for companies in the same or similar businesses similarly situated operating in the same or similar locations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Certificates</u>. Subject to <u>Section 7.19</u>, Borrower shall deliver to Collateral Agent certificates of insurance that evidence the Loan Parties' compliance with its insurance obligations in <u>Section 6.1</u> and the obligations contained in this <u>Section 6.2</u>. The Loan Parties' insurance certificate shall state Collateral Agent (shown as "Diameter Finance Administration LLC", as "Collateral Agent") is an additional insured for commercial general liability, a lender loss payee for all risk property damage insurance, subject to the insurer's and Lender approval, and promptly following any purchase of new or replacement insurance, Borrower shall deliver to Collateral Agent certificates of insurance showing Collateral Agent as additional insured and a lender loss payee for property insurance and additional insured for liability insurance for any future insurance that Borrower may acquire from such insurer. Attached to the certificates of insurance will be additional insured endorsements for liability and lender's loss payable

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endorsements for all risk property damage insurance. All certificates of insurance will provide for a minimum of thirty (30) days advance written notice to Collateral Agent of cancellation (other than cancellation for non-payment of premiums, for which ten (10) days' advance written notice shall be sufficient) or any other change adverse to Collateral Agent's interests. Any failure of Collateral Agent to scrutinize (and for the avoidance of doubt the Agent shall not have any obligation or duty to scrutinize) such insurance certificates for compliance is not a waiver of any of Collateral Agent's rights, all of which are reserved. At Collateral Agent's reasonable request, Borrower shall provide Collateral Agent with copies of each insurance policy, and upon entering or amending any insurance policy required hereunder, Borrower shall provide Collateral Agent with copies of such policies and shall promptly deliver to Collateral Agent updated insurance certificates with respect to such policies.

**SECTION 7 COVENANTS**

Borrower and each Guarantor agrees, on behalf of itself and each of its Subsidiaries, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Financial Reports</u>. Borrower shall furnish to Administrative Agent (and Administrative Agent shall thereafter deliver to Lenders) the financial statements (the "<u>Financial</u> <u>Statements</u>"), notifications and reports listed hereinafter:

&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>Monthly Financial Statements</u>. As soon as practicable and in any event within thirty (30) days after the end of each Fiscal Month, a copy of the unaudited balance sheets of Borrower and each of its Subsidiaries, and the related statements of income, for such Fiscal Month, (i) except for the absence of footnotes, (ii) subject to normal year-end adjustments, and (iii) except for certain non-cash items that are customarily included in quarterly and annual financial statements.

&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>Quarterly Financial Statements</u>. As soon as practicable and in any event within forty-five (45) days after the end of each Fiscal Quarter of each Fiscal Year, a copy of the unaudited consolidated balance sheets of Borrower and each of its Subsidiaries, and the related consolidated statements of income, shareholders' equity and cash flows as of the end of such Fiscal Quarter and (other than the shareholders' equity statement) for the portion of the Fiscal Year then ended, and (other than the shareholders' equity statement) for the period from the beginning of the then current Fiscal Year to the end of such Fiscal Quarter, setting forth in each case in comparative form the corresponding figures for the corresponding periods of the previous Fiscal Year all certified by an Authorized Officer of Borrower to the effect that they have been prepared in accordance with GAAP, (i) except for the absence of footnotes, (ii) subject to normal year-end adjustments, and (iii) except for certain non-cash items that are customarily included in quarterly and annual financial statements.

&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>Annual Financial Statements</u>. Within one hundred fifty (150) days after the end of each Fiscal Year, a copy of the audited financial statements of Borrower and each of its Subsidiaries as at the end of such Fiscal Year prepared on a consolidated basis, including balance sheet and related statements of income, shareholders' equity and cash flows and setting forth in comparative form the corresponding figures for the preceding Fiscal Year, and

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accompanied by the report of a firm of independent certified public accountants selected by Borrower and reasonably acceptable to Administrative Agent (acting at the direction of the Required Lenders), which report shall contain an unqualified opinion, stating that such consolidated financial statements present fairly in all material respects the financial position for the periods indicated in conformity with GAAP applied on a basis consistent with prior years and not include a going concern qualification (except to the extent such qualification is solely as a result of the impending maturity of, or a financial covenant default under, this Agreement, or the impending maturity of the 2020 Convertible Notes or 2021 Convertible Notes).

&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;<u>Compliance Certificate</u>. Concurrently with the delivery of the quarterly financial statements referred to in <u>Section 7.1(b)</u> above and the annual financial statements referred to in <u>Section 7.1(c)</u> above, (i) a fully and properly completed Compliance Certificate, certified on behalf of Borrower by an Authorized Officer of Borrower and (ii) in the case of <u>Section 7.1(b)</u> above, a calculation of Minimum Liquidity referred to in <u>Section 7.21</u> below as certified by an Authorized Officer of Borrower which shall be calculated as of the last Business Day of each Fiscal Quarter (commencing with the first full Fiscal Quarter following the Closing 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>SEC Filings</u>. Promptly after the filing thereof, copies of any regular, periodic and special reports or registration statements that Borrower files with the Securities and Exchange Commission or any Governmental Authority that may be substituted therefor, or any national securities 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Bank Accounts</u>. Within forty-five (45) days after the end of each Fiscal Quarter, a complete list of any new banks and other financial institutions at which Borrower or any of its Subsidiaries maintains any and all Deposit Accounts, Securities Accounts or Commodities Accounts to the extent required by <u>Section 5.12</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;(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Budget</u>. As soon as practicable and in any event within sixty days (60) days after the end of each Fiscal Year, the financial and business projections, budget and updated model for such Fiscal Year, as well as any other budgets, operating plans and other financial information or information with respect to the Collateral as may be reasonably requested by Administrative Agent at direction of the Required Lenders.

&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;<u>Acquisition of Equity Interests or Instruments</u>. Within sixty (60) days of the acquisition of Collateral consisting of Equity Interests or Instruments, notification thereof, together with such originals and other documents as required pursuant to <u>Section 7.13(b)</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;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Material Amendment of Organizational Document</u>. Promptly provide to Administrative Agent (and Administrative Agent shall provide to Lender) a copy of any material amendment, restatement, supplement or other modification to or of any Organizational Document or Equity Document of any Loan Party after execution 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;(j)&nbsp;&nbsp;&nbsp;&nbsp;<u>Prepayment Event</u>. At least one (1) Business Day prior to the occurrence of a Prepayment Event, a notification thereof, together with a description of such Prepayment Event, copies of such documents entered into in connection with the transaction giving rise to the

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Prepayment Event as Administrative Agent may reasonably request and calculations in form reasonably acceptable to Administrative Agent of the amount of Net Cash Proceeds, Extraordinary Receipts or Net Equity Proceeds, as applicable, arising from such Prepayment 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;(k)&nbsp;&nbsp;&nbsp;&nbsp;<u>Collateral Impact</u>. Promptly upon any court proceeding in an amount greater than $2,000,000 affecting the Collateral, a notification 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;(l)&nbsp;&nbsp;&nbsp;&nbsp;<u>Event of Default</u>. Within three (3) Business Days of the occurrence of any Event of Default, a notification to the Administrative Agent (and Administrative Agent shall thereafter notify Lender).

&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;<u>OFAC Lists</u>. Promptly (and in any event within three (3) Business Days), notice if Borrower or any Subsidiary has knowledge that Borrower, or any Subsidiary or Affiliate of Borrower, is listed on the OFAC Lists or (a) is convicted of, (b) pleads *nolo contendere* to, (c) is indicted on, or (d) is arraigned and held over on charges involving money laundering or predicate crimes to money laundering.

&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;<u>Material Litigation</u>. Promptly upon any dispute, litigation, investigation, proceeding or suspension between any Loan Party or any Subsidiary thereof and any Governmental Authority or notice from any Governmental Authority, in each case, that would result in a Material Adverse Effect, a notification thereof and upon the reasonable request of the Administrative Agent, such information as may be reasonably available to the Borrower to enable Lenders' counsel to evaluate such matters; provided that Borrower shall not be required to disclose any document, information or other matter with respect to any such litigation at any time that constitutes trade secrets or proprietary information or that is subject to attorney client or similar privilege or constitutes attorney work product.

&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;<u>ERISA Event</u>. Promptly upon any Authorized Officer of the Borrower obtaining knowledge of the occurrence of any ERISA Event or any event described in <u>Section 5.19(d)(i)</u> through <u>(iii)</u> with respect to a Foreign Plan that could reasonably be expected to result have a Material Adverse Effect, a notification 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;(p)&nbsp;&nbsp;&nbsp;&nbsp;<u>Material Real Property</u>. Withing 90 days of the acquisition of any Material Real Property, such deliverables as required by <u>Section 7.13(d)</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;(q)&nbsp;&nbsp;&nbsp;&nbsp;<u>[Reserved]</u>.

Notwithstanding the foregoing, documents required to be delivered under this Article 7 may be delivered electronically and shall be deemed delivered when Borrower posts a link to such publicly disclosed documents on its website.

Borrower shall not make any change in its (a) accounting policies or reporting practices other than to the extent required or otherwise contemplated by GAAP or other applicable regulatory requirements or (b) Fiscal Year or method for determining Fiscal Quarters of any Loan Party. As of the Closing Date, the Fiscal Year of Borrower shall end on December 31.

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Whenever any report to be made pursuant to this <u>Section 7.1</u> shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Management Rights</u>. Borrower shall permit any representative that Administrative Agent or Lender authorizes, including its attorneys and accountants, to inspect the Collateral and examine and make copies and abstracts of the books of account and records of such Borrower and its Subsidiaries at reasonable times and upon reasonable notice during normal business hours; provided, that so long as no Event of Default has occurred and is continuing, such examinations shall be limited to no more often than once per Fiscal Year. In addition, any such representative shall have the right to meet with management and officers of such Borrower to discuss such books of account and records at reasonable times and upon reasonable notice. In addition, Administrative Agent or Lender shall be entitled at reasonable times and intervals to consult with and advise the management and officers of such Borrower and its Subsidiaries concerning significant business issues affecting such Borrower and its Subsidiaries. Such consultations shall not unreasonably interfere with such Borrower's business operations. The parties intend that the rights under this paragraph shall permit Administrative Agent or Lender solely the right to provide advice or recommendations and not be deemed to give Administrative Agent or Lender any right to exercise control or any rights of operations of the business with respect to Borrower and its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Further Assurances</u>. Each Loan Party shall from time to time execute, deliver and file, any financing statements, security agreements, collateral assignments, notices, control agreements, or other documents to perfect or give the highest priority to Collateral Agent's Lien on the Collateral, in each case, as required by the Guaranty and Security Agreement and the other Security Documents. Borrower shall, and shall cause each Loan Party to, from time to time procure any instruments or documents as may be reasonably requested by Collateral Agent, and take all further action that may be necessary, or that Collateral Agent may reasonably request, to perfect and protect the Liens granted by the Guaranty and Security Agreement and the other Security Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Indebtedness</u>. Borrower shall not, and shall not permit any Subsidiary to, create, incur, assume, guarantee or be or remain liable with respect to any Indebtedness, other than Permitted Indebtedness, or prepay any Indebtedness or take any actions which impose on Borrower or any such Subsidiary an obligation to prepay any Indebtedness, except for (a) the conversion of Indebtedness into equity securities and the payment of Cash in lieu of fractional shares in connection with such conversion, (b) with respect to purchase money Indebtedness permitted hereunder to the extent the outright purchase of such equipment would constitute an Investment in a capital asset that is permitted, (c) the foregoing to the extent refinanced with similar Permitted Indebtedness, or (d) as otherwise permitted hereunder or approved in writing by Administrative Agent.

Notwithstanding anything to the contrary in the foregoing, the issuance of, performance of obligations under (including any payments of interest), and conversion, exercise, repurchase, redemption (including, for the avoidance of doubt, a required repurchase in

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connection with the redemption of Permitted Convertible Indebtedness upon satisfaction of a condition related to the stock price of Borrower's common stock), settlement or early termination or cancellation of (whether in whole or in part and including by netting or set-off) (in each case, whether in cash, common stock of Borrower or, following a merger event or other change of the common stock of Borrower, other securities or property), or the satisfaction of any condition that would permit or require any of the foregoing, any Permitted Convertible Indebtedness shall not be prohibited by this <u>Section 7.4</u> provided that, principal payments in cash (other than cash in lieu of fractional shares) shall only be allowed with respect to any repurchase to the extent made in connection with the redemption of Permitted Convertible Indebtedness upon satisfaction of a condition related to the stock price of Borrower's common stock and if the Cash Settlement Conditions are satisfied in respect of such redemption and at all times after such redemption.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Liens</u>. Borrower and each of its Subsidiaries shall at all times keep the Collateral and all other property and assets used in Borrower's business or in which such Borrower or such Subsidiary now or hereafter holds any interest free and clear from any Liens whatsoever (except for Permitted Liens). Borrower shall not, and shall not permit any Subsidiary to agree with any Person other than Agent or Lender to encumber the Collateral, other than pursuant to Permitted Indebtedness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Investments</u>. Borrower shall not, and shall not permit any Subsidiary to, directly or indirectly acquire or own, or make any Investment in or to any Person other than Permitted Investments.

Notwithstanding anything to the contrary in the foregoing, the issuance of, performance of obligations under (including any payments of interest), and conversion, exercise, repurchase, redemption (including, for the avoidance of doubt, a required repurchase in connection with the redemption of Permitted Convertible Indebtedness upon satisfaction of a condition related to the stock price of Borrower's common stock), settlement or early termination or cancellation of (whether in whole or in part and including by netting or set-off) (in each case, whether in cash, common stock of Borrower or, following a merger event or other change of the common stock of Borrower, other securities or property), or the satisfaction of any condition that would permit or require any of the foregoing, any Permitted Convertible Indebtedness shall not be prohibited by this <u>Section 7.6</u> provided that, principal payments in cash (other than cash in lieu of fractional shares) shall only be allowed with respect to any repurchase to the extent made in connection with the redemption of Permitted Convertible Indebtedness upon satisfaction of a condition related to the stock price of Borrower's common stock and if the Cash Settlement Conditions are satisfied in respect of such redemption and at all times after such redemption.

Notwithstanding the foregoing, Borrower may repurchase, exchange or induce the conversion of Permitted Convertible Indebtedness by delivery of shares of Borrower's common stock and/or a different series of Permitted Convertible Indebtedness and/or by payment of Cash (in an amount that does not exceed the proceeds received by Borrower from the substantially concurrent issuance of shares of Borrower's common stock and/or Permitted Convertible Indebtedness plus the net cash proceeds, if any, received by Borrower pursuant to the related exercise or early unwind or termination of the related Permitted Bond Hedge Transactions and

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Permitted Warrant Transactions, if any, pursuant to the immediately following proviso); provided that, for the avoidance of doubt, Borrower may exercise or unwind or terminate early (whether in Cash, shares or any combination thereof) the portion of the Permitted Bond Hedge Transactions and Permitted Warrant Transactions, if any, corresponding to such Permitted Convertible Indebtedness that are so repurchased, exchanged or converted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Distributions</u>. Borrower shall not, and shall not permit any Subsidiary to (a) repurchase or redeem any class of stock or other Equity Interest of a Loan Party or any Subsidiary, other than repurchases described in <u>clauses (c)</u>, <u>(m)</u>, <u>(q)</u>, and <u>(r)</u> of the definition of "Permitted Investments"; (b) declare or pay any cash dividend or make a cash distribution on any class of stock or other Equity Interest, except for (i) any dividends or other distributions by any Subsidiary to Borrower or another Subsidiary, (ii) distributions of Net Cash Proceeds, to the extent Administrative Agent shall have waived the application of any portion of such Net Cash Proceeds to the mandatory prepayment, and to the extent Administrative Agent has consented to the distribution in respect of any portion, of such Net Cash Proceeds, (iii) any payments made by Borrower upon the death, disability, retirement or termination of employment of any such employee, officer, manager or director or pursuant to any employee or director equity plan, employee, manager or director stock option plan or any other employee or director benefit plan or any agreement (including any stock subscription or shareholder agreement) with any employee, officer, manager or director of the Borrower or any of its Subsidiaries in an amount not to exceed $1,500,000 per Fiscal Year or (iv) subject to satisfaction of the Equity Cash Payment Conditions, any other payments made by Borrower to repurchase Equity Interests from any departing employees, officers, managers or directors, or guarantees of the payment of any such loans granted by a third party in an amount not to exceed $1,500,000 in the aggregate so long as no default known to Borrower or Event of Default has occurred or is continuing; (c) waive, release or forgive any Indebtedness owed by any departing employees, officers, managers or directors in excess of $750,000 in the aggregate so long as no default known to Borrower or Event of Default has occurred or is continuing; (d) (x) the entry into and payment of any premium with respect to any Permitted Bond Hedge Transaction and (y) the settlement of any Permitted Warrant Transaction by (i) netting or set-off against any Permitted Bond Hedge Transaction, (ii) delivery of shares of common stock of the Borrower or (iii) if the Cash Settlement Conditions are satisfied, payment in cash.

Notwithstanding anything to the contrary in the foregoing, the issuance of, performance of obligations under (including any payments of interest), and conversion, exercise, repurchase, redemption (including, for the avoidance of doubt, a required repurchase in connection with the redemption of Permitted Convertible Indebtedness upon satisfaction of a condition related to the stock price of Borrower's common stock), settlement or early termination or cancellation of (whether in whole or in part and including by netting or set-off) (in each case, whether in cash, common stock of Borrower or, following a merger event or other change of the common stock of Borrower, other securities or property), or the satisfaction of any condition that would permit or require any of the foregoing, any Permitted Convertible Indebtedness shall not be prohibited by this <u>Section 7.7</u>; provided that, principal payments in cash (other than cash in lieu of fractional shares) shall only be allowed with respect to any repurchase to the extent made in connection with the redemption of Permitted Convertible Indebtedness upon satisfaction of a

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condition related to the stock price of Borrower's common stock and if the Cash Settlement Conditions are satisfied in respect of such redemption and at all times after such redemption.

Notwithstanding the foregoing, Borrower may repurchase, exchange or induce the conversion of Permitted Convertible Indebtedness by delivery of shares of Borrower's common stock and/or a different series of Permitted Convertible Indebtedness and/or by payment of Cash (in an amount that does not exceed the proceeds received by Borrower from the substantially concurrent issuance of shares of Borrower's common stock and/or Permitted Convertible Indebtedness plus the net cash proceeds, if any, received by Borrower pursuant to the related exercise or early unwind or termination of the related Permitted Bond Hedge Transactions and Permitted Warrant Transactions, if any, pursuant to the immediately following proviso); provided that, for the avoidance of doubt, Borrower may exercise or unwind or terminate early (whether in Cash, shares or any combination thereof) the portion of the Permitted Bond Hedge Transactions and Permitted Warrant Transactions, if any, corresponding to such Permitted Convertible Indebtedness that are so repurchased, exchanged or converted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Transfers</u>. Except for Permitted Transfers, Borrower shall not, and shall not permit any Subsidiary to, voluntarily or involuntarily transfer, sell, lease, license, lend or in any other manner convey any equitable, beneficial or legal interest in any material portion of its assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Mergers or Acquisitions</u>. Borrower shall not, and shall not permit any Subsidiary to, merge or consolidate with or into any other Person, except (i) that any Subsidiary of Borrower may merge with, consolidate with or into, dissolve or liquidate into a Loan Party; provided, that such Loan Party shall be the continuing or surviving entity and all actions reasonably required by Administrative Agent, including actions required to maintain perfected Liens on the Equity Interests of the surviving entity and other Pledged Securities in favor of Collateral Agent shall have been completed in accordance with the terms of this Agreement, (ii) any Loan Party may merge with, consolidate with or into, dissolve or liquidated into another Loan Party and (iii) any Subsidiary that is not a Loan Party may merge with, consolidate with or into, dissolve or liquidated into another Subsidiary that is not a Loan Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>. Borrower and each of its Subsidiaries shall timely pay or cause to be paid in full when due all income Taxes and other material Taxes, fees or other charges of any nature whatsoever (together with any related interest or penalties) now or hereafter imposed or assessed against Borrower or the Collateral or upon Borrower's ownership, possession, use, operation or Disposition thereof or upon Borrower's income or profits arising therefrom, unless the same are being contested in good faith and by appropriate proceedings and adequate reserves in accordance with GAAP are being maintained by the appropriate Person. Borrower shall timely file or cause to be filed prior to delinquency all income tax returns and other material tax returns of Borrower and each of its Subsidiaries required to be filed under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Changes</u>. No Loan Party 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;suffer a Change in 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;amend, restate, supplement or otherwise modify the terms of the Organizational Documents of such Loan Party if the effect of such change could reasonably be expected to be materially adverse to the interests of any Agent or Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Cash Management</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>Control Agreements</u>. As of the date hereof, each Loan Party has no Deposit Accounts, Securities Accounts or Commodities Accounts, other than those listed on <u>Schedule 5.12</u> attached hereto. Subject to <u>Section 7.19</u>, each Loan Party shall enter into and deliver to the Collateral Agent on or before the date set forth for such requirement in <u>Schedule 7.19</u>, a duly authorized, executed and delivered Account Control Agreement with respect to any Deposit Accounts (other than Excluded Accounts) of the Loan Parties maintained or opened prior to such date. No Loan Party shall hereafter establish and maintain any Deposit Account, Securities Account or Commodities Account (other than an Excluded Account), unless such Loan Party shall have delivered an Account Control Agreement to the Collateral Agent with respect to such Deposit Account, Securities Account or Commodities Account. The Agent agrees with each Loan Party that the Collateral Agent shall not give any entitlement orders or instructions or directions to the applicable deposit bank, and shall not withhold its consent to the exercise of any withdrawal or dealing rights by such Loan Party with respect to any Deposit Account, unless an Event of Default has occurred and is continuing. The Controlled Accounts shall be subject to the "control" (as defined in the UCC) of the Collateral Agent.

&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>General Requirements</u>. In the event that, notwithstanding the provisions of this <u>Section 7.12</u>, any Loan Party receives or otherwise has control of any such cash receipts or collections, such receipts and collections shall, not later than the Business Day after receipt thereof, be deposited into a Controlled Account or dealt with in such other fashion as such Loan Party may be instructed by the Collateral Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Subsidiaries</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;Except as otherwise approved by the Required Lenders, the Loan Parties shall, within sixty (60) days (or such longer period as Administrative Agent may agree acting at the direction of Lender) of formation or acquisition, cause any Domestic Subsidiary (excluding any FSHCO formed or acquired after the Closing Date) to Guarantee the Obligations and grant to Collateral Agent, for the benefit of the Collateral Agent and the Lenders, a security interest in, subject to the limitations set forth herein and in the Loan Documents, all of such Domestic Subsidiary's property to secure such Guarantee. The Loan Parties shall deliver, or cause to be delivered, to Administrative Agent, appropriate resolutions, secretary certificates and certified organization documents and, if requested by Administrative Agent (acting at the direction of the Required Lenders), legal opinions relating to the matters described in this <u>Section 7.13</u> (which opinions shall be in form and substance reasonably acceptable to Administrative Agent (acting at the direction of the Required Lenders) and, to the extent applicable, substantially similar to the opinions delivered on the Closing Date); it being understood and agreed that no opinion shall be required with respect to the determination of whether any Subsidiary is a Domestic Subsidiary. In connection with each pledge of Equity Interest, the Loan Parties shall deliver, or cause to be delivered, to Collateral Agent, irrevocable proxies and stock powers and/or assignments, as

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applicable, duly executed in blank, in form and substance substantially similar to those delivered on the Closing 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Loan Parties shall, and shall cause each Domestic Subsidiary (excluding any FSHCO formed or acquired after the Closing Date) to, upon acquiring any new Equity Interests constituting Pledged Securities or Instruments constituting Collateral, within sixty (60) days (i) deliver to Collateral Agent an updated <u>Schedule 5.15</u> hereto, in form reasonably satisfactory to Agent (acting at the direction of the Required Lenders), identifying such additional Equity Interests, which shall be attached to this Agreement, and (ii) either deliver or otherwise cause the transfer of such additional Equity Interests or Instruments (including any certificates and duly executed transfer powers or other instruments of transfer executed in blank and in form and substance satisfactory to Collateral Agent) to Collateral Agent as required under this Agreement or any Loan Document or enter into a control agreement in favor of Collateral Agent in form acceptable to Collateral Agent with respect thereto; provided, that with respect to Equity Interests of a Loan Party, to the extent the Organizational Documents of such Loan Party do not provide for the issuance of physical stock certificates and as long as no physical stock certificates are issued, such Loan Party shall not be required to deliver stock certificates or stock powers. Borrower shall not, and shall not permit any Subsidiary to, enter into any agreement restricting its ability to vote the Equity Interests or assigning or otherwise transferring or restricting its ability to vote the Equity Interests owned by such Borrower or Subsidiary other than pursuant to any Loan Document which are not designed to impair the pledge or Collateral Agent's exercise of remedies with respect to Pledged 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;Promptly upon request by Collateral Agent (acting at the direction of the Required Lenders), the Loan Parties shall take such additional actions and execute such documents as Collateral Agent (acting at the direction of the Required Lenders) may reasonably require from time to time in order to (x) perfect and maintain the validity, effectiveness and (to the extent required hereby) priority of any of the Loan Documents and the Liens intended to be created thereby and (y) better assure, grant, preserve, protect and confirm to Lender the rights granted or now or hereafter intended to be granted to Lender under any Loan Document.

&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;In the event any Loan Party acquires fee title to any Real Property with a fair market value in excess of $10,000,000 (such real property, "<u>Material Real Property</u>") within ninety (90) days after (or such longer period as Collateral Agent may agree acting at the direction of Lender) such acquisition, such Person shall execute and/or deliver, or cause to be executed and/or delivered, to Collateral Agent, (w) an appraisal complying with the Financial Institutions Reform, Recovery and Enforcement Act of 1989, (x) a fully executed Mortgage, in form and substance reasonably satisfactory to Agent (acting at the direction of the Required Lenders) together with an A.L.T.A. lender's title insurance policy issued by a title insurer reasonably satisfactory to Collateral Agent (acting at the direction of the Required Lenders), in form and substance and in an amount reasonably satisfactory to Collateral Agent (acting at the direction of the Required Lenders) insuring that the Mortgage is a valid and enforceable first priority Lien on the respective property, free and clear of all defects, encumbrances and Liens other than Permitted Liens, and (y) then current A.L.T.A. surveys, certified to Collateral Agent and Lender

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by a licensed surveyor sufficient to allow the issuer of the lender's title insurance policy to issue such policy without a survey exception.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Use of Proceeds</u>. Borrower agrees that the proceeds of the Term Loans funded on the Closing Date shall be used solely (a) to refinance the Prior Indebtedness, (b) to consummate the Transactions and pay the Transaction Expenses and (c) to finance new equipment purchases, working capital and general corporate purposes. The proceeds of the Loans will not be used, directly or indirectly, in violation of Anti-Corruption Laws or applicable Sanctions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Laws</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;Borrower shall, and shall cause each of its Subsidiaries to, maintain compliance in all material respect with all material applicable laws, rules or regulations, and Borrower shall, and shall cause its Subsidiaries to, obtain and maintain all material required governmental authorizations, approvals, licenses, franchises, permits or registrations reasonably necessary in connection with the conduct of Borrower's or such Subsidiary's 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;Borrower or any of its Subsidiaries shall not permit any controlled Affiliate to, directly or indirectly, knowingly enter into any documents, instruments, agreements or contracts with any Person listed on the OFAC Lists. No Borrower shall (i) conduct any business or engage in any transaction or dealing with any Blocked Person, including, without limitation, the making or receiving of any contribution of funds, goods or services to or for the benefit of any Blocked Person, (ii) deal in, or otherwise engage in any transaction relating to, any property or interests in property blocked pursuant to Executive Order No. 13224 or any similar executive order or other Anti-Terrorism Law, or (iii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in Executive Order No. 13224 or other Anti-Terrorism Law, nor shall Borrower or its Subsidiaries knowingly permit any controlled Affiliate to, directly or indirectly do any of 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;Borrower and each Subsidiary has implemented and maintains in effect policies and procedures designed to ensure compliance by Borrower and its Subsidiaries, and their respective directors, officers, managers, employees, and agents with Anti-Corruption Laws and applicable Sanctions, and Borrower and its Subsidiaries, and their respective officers and employees and to the knowledge of Borrower and its Subsidiaries its directors, managers and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects.

&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;None of Borrower nor any Subsidiary, or any of their respective directors, officers, managers or employees, or to the knowledge of Borrower and its Subsidiaries, any agent for Borrower and its Subsidiaries that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person. No Loan, use of proceeds or other transaction contemplated by this Agreement will violate Anti-Corruption Laws or applicable Sanctions.

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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;To the extent applicable, each Loan Party is in compliance, in all material respects, with the (a) Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (b) Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA Patriot Act of 2001, as amended) (the "Patriot Act").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Intellectual Property</u>. Borrower shall, and shall cause each of its Subsidiaries to, (i) protect, defend and maintain the validity and enforceability of its Intellectual Property necessary for its continued operations; (ii) promptly advise Collateral Agent in writing of material infringements of material Intellectual Property and use commercially reasonable efforts to prevent any Intellectual Property material to Borrower and its Subsidiaries business from being abandoned, forfeited or dedicated to the public. If any Loan Party (i) obtains any Patent, registered Trademark, registered Copyright, registered mask work, or any pending application for any of the foregoing, whether as owner, licensee or otherwise, or (ii) applies for any Patent or the registration of any Trademark, then such Loan Party shall on the next Compliance Certificate required to be delivered hereunder provide written notice thereof to Collateral Agent and shall execute such intellectual property security agreements and other documents and take such other actions as Collateral Agent may request in its good faith business judgment to perfect and maintain a first priority perfected security interest in favor of Collateral Agent in such property. Borrower shall, together with the delivery of the next Compliance Certificate required to be delivered hereunder, provide to Collateral Agent copies of all applications that it files for Patents or for the registration of Trademarks, Copyrights or mask works, together with evidence of the recording of the intellectual property security agreement required for Collateral Agent to perfect and maintain a first priority perfected security interest in such property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Transactions with Affiliates</u>. Borrower shall not, and shall not permit any Subsidiary to, directly or indirectly, enter into or permit to exist any transaction of any kind with any Affiliate of Borrower or any of its Subsidiaries on terms that are less favorable to Borrower or such Subsidiary, other than those that might be obtained in an arm's length transaction from a Person who is not an Affiliate of Borrower or any of its Subsidiaries, except that Borrower or any of its Subsidiaries shall not be subject to the foregoing limitation with respect to (i) issuance of Permitted Subordinated Indebtedness or Equity Interests, including to existing investors, (ii) entrance into customary compensation arrangements in the ordinary course of business and approved by the Board, (iii) consummation of any Permitted Transfer or Permitted Indebtedness expressly contemplated to be entered into between Borrower and an Affiliate, or (iv) any distribution permitted pursuant to <u>Section 7.7</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Change in Business</u>. No Loan Party shall, and no Loan Party shall permit any of its Subsidiaries to, engage in any line of business substantially different from those lines of business carried on by it on the Closing Date and any business reasonably related, similar, incidental, complementary or ancillary thereto or reasonable extensions, developments or expansions of such businesses or lines of business.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Post-Closing Deliveries</u>. Borrower shall deliver the documents, instruments or agreements or take the actions as set forth in <u>Schedule 7.19</u> hereto on or before the date set forth for each such item thereon (or such longer period as Administrative Agent (acting at the direction of the Required Lenders) may agree in its reasonable discretion), each of which shall be completed or provided in form and substance satisfactory to Administrative Agent (acting at the direction of the Required Lenders).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.20&nbsp;&nbsp;&nbsp;&nbsp;<u>[Reserved]</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.21&nbsp;&nbsp;&nbsp;&nbsp;<u>Minimum Liquidity</u>. The Loan Parties shall maintain, at all times, Cash, as reported, or required to be reported, as of the last Business Day of each Fiscal Quarter (commencing with the first full Fiscal Quarter following the Closing Date), of not less than, $25,000,000 ("<u>Minimum Liquidity</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Permitted Warrant Transactions</u>. Borrower shall not (x) elect "cash settlement" (or substantially equivalent term) as the "settlement method" (or substantially equivalent term) with respect to any Permitted Warrant Transaction or (y) make any payment in respect of any termination of a Permitted Warrant Transaction with respect to which Borrower is the "defaulting party" under the terms of such Permitted Warrant Transaction or any optional unwind of any Permitted Warrant Transaction, in each case, unless the Cash Settlement Conditions are met; provided that, for the avoidance of doubt, any Permitted Warrant Transaction may be settled by netting or set-off against any Permitted Bond Hedge Transaction.

**SECTION 8 [RESERVED]**

**SECTION 9 EVENTS OF DEFAULT**

The occurrence of any one or more of the following events shall be an Event of Default:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments</u>. Borrower fail to pay (i) principal when due this Agreement or any other Loan Document or (ii) interest, premium (including the Prepayment Premium) or regularly scheduled fee when due under this Agreement or any other Loan Document or any other amount due hereunder, in each case under this <u>clause (ii)</u>, within three (3) Business Days of the due date; provided, that an Event of Default shall not occur on account of a failure to pay due solely to an administrative or operational error of Administrative Agent or Lender or Borrower's bank if such Borrower had the funds to make the payment when due and makes the payment within three (3) Business Days following such Borrower's knowledge of such failure to pay; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Covenants</u>. Any Loan Party breaches or defaults in the performance of any covenant or Secured Obligation under this Agreement, or any of the other Loan Documents or any other agreement among each Loan Party, any Agent and Lender, and (a) with respect to a Default under any covenant under this Agreement other than the Sections specifically identified in <u>clause (b)</u> or <u>(c)</u> hereof, any other Loan Document or any other agreement between each Loan Party and any Agent or Lender, and such Default continues for more than thirty (30) days, (b) with respect to a Default under <u>Section 7.1</u> and such Default continues for more than fifteen

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(15) days or (c) with respect to a default under any of <u>Sections 6</u>, <u>7.3</u>, <u>7.4</u>, <u>7.5</u>, <u>7.6</u>, <u>7.7</u>, <u>7.8</u>, <u>7.9</u>, <u>7.10</u>, <u>7.11</u>, <u>7.12</u>, <u>7.13</u>, <u>7.14</u>, <u>7.15</u>, <u>7.17</u>, <u>7.18</u>, <u>7.19</u> or <u>7.21</u>. the occurrence of such Default; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Material Adverse Effect</u>. A circumstance has occurred that would reasonably be expected to have a Material Adverse Effect or a "change of control", "fundamental change" or any comparable term under and as defined in any indenture governing any Permitted Convertible Indebtedness (but not "make-whole fundamental change" unless it results in a put right for holders of such Permitted Convertible Indebtedness) has occurred; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations</u>. Any representation or warranty made by Borrower or any of its Subsidiaries in any Loan Document shall have been false or misleading in any material respect when made or when deemed made; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Insolvency</u>. Borrower or any of its Subsidiaries (i) (A) shall make an assignment for the benefit of creditors; or (B) shall be unable to pay its debts as they become due, or shall become insolvent; or (C) shall file a voluntary petition in bankruptcy; or (D) shall file any petition, answer, or document seeking for itself any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation pertinent to such circumstances; or (E) shall seek or consent to or acquiesce in the appointment of any trustee, receiver, or liquidator of such Person or of all or any part of the assets or property of such Person; or (F) shall cease operations of its business as its business has normally been conducted, or terminate substantially all of its employees; or (G) Borrower or any of its Subsidiaries or the Board or majority of the holders of the Equity Interests of the foregoing shall take any action initiating any of the foregoing actions described in <u>clauses (A)</u> through <u>(F)</u>; or (ii) either (A) forty-five (45) days shall have expired after the commencement of an involuntary action against Borrower or such Subsidiary seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, without such action being dismissed or all orders or proceedings thereunder affecting the operations or the business of or any of its Subsidiaries being stayed; or (B) a stay of any such order or proceedings shall thereafter be set aside and the action setting it aside shall not be appealed within twenty (20) days; or (C) or any of its Subsidiaries shall file any answer admitting or not contesting the material allegations of a petition filed against such Borrower or Subsidiary in any such proceedings; or (D) the court in which such proceedings are pending shall enter a decree or order granting the relief sought in any such proceedings; or (E) thirty (30) days shall have expired after the appointment, without the consent or acquiescence of the applicable Loan Party or Subsidiary of Borrower, of any trustee, receiver or liquidator of such Person or of all or any material part of the properties of such Person without such appointment being vacated (any of the foregoing, an "<u>Insolvency Proceeding</u>"); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Attachments; Judgments</u>. Any material portion of the assets of Borrower or any Subsidiary of Borrower is attached or seized, or a levy is filed against any such assets, or a final judgment or judgments is/are entered (in each case to the extent not paid and not covered by independent third party insurance) for the payment of money individually or in the aggregate, of at least $15,000,000, and there is a period of forty-five (45) consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal, bond or otherwise, is not in

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effect, or Borrower or any Subsidiary of Borrower is enjoined or in any way prevented by court order from conducting any material part its business; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Obligations</u>. The occurrence of any default under any agreement or obligation of Borrower or any of its Subsidiaries involving any Indebtedness in excess of $15,000,000 ("<u>Material Indebtedness</u>"), which could entitle or permit any Person to accelerate such Material Indebtedness or any early cash payment in excess of $5,000,000 by Borrower or its Subsidiaries is required, or unwinding or termination occurs with respect to either any Permitted Bond Hedge Transaction or any Permitted Warrant Transaction that requires Borrower or its Subsidiaries to make net cash payments in excess of $15,000,000 in the aggregate, or any condition giving rise to the foregoing is met, in each case, with respect to which Borrower or its Subsidiaries is the "defaulting party" under the terms of such Permitted Bond Hedge Transaction or Permitted Warrant Transaction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8&nbsp;&nbsp;&nbsp;&nbsp;<u>ERISA</u>. (i) An ERISA Event occurs, or any event described in <u>Section 5.12(d)(i)</u> through <u>(iv)</u> with respect to a Foreign Plan occurs, which would reasonably be expected to result in a Material Adverse Effect, or (ii) the Borrower or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan which would reasonably be expected to result in a Material Adverse Effect; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Change of Control</u>. There occurs any Change in Control; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Guaranty</u>. The termination or attempted termination by any Loan Party of any guaranty set forth in the Guaranty and Security Agreement except as expressly permitted hereunder or under any other Loan Document; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Invalidity of Loan Documents</u>. (i) Any material provision of any Loan Document, at any time after its execution and delivery and for any reason, ceases to be in full force and effect; UBER or any Loan Party or any Affiliate contests in any manner the validity or enforceability of any material provision of any Loan Document; or UBER (solely during the period the Uber Guaranty is in effect) or any Loan Party denies that it has any or further liability or obligation under any material provision of any Loan Document to which it is a party, or purports to revoke, terminate or rescind any material provision of any Loan Document to which it is a party or seeks to avoid, limit or otherwise adversely affect any Lien purported to be created under any Security Document; or (ii) any Lien purported to be created under any Security Document shall cease to be, or shall be asserted by any Loan Party or any other Person not to be, a valid and perfected Lien on any portion of the Collateral with an aggregate fair market value exceeding $3,000,000, with the priority required by the applicable Security Document or (iii) UBER fails to comply with any material provision of the Uber Guaranty; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.12&nbsp;&nbsp;&nbsp;&nbsp;<u>UBER Insolvency</u>. (i) An involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (A) liquidation, reorganization or other relief in respect of UBER or its debts, or of a substantial part of its or their assets, under any Debtor Relief Law or (B) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for UBER or for a substantial part of its assets, and, in any such case, such proceeding or

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petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; or (ii) UBER shall (A) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Debtor Relief Law, (B) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in the preceding <u>clause (i)</u> of this <u>Section 9.12</u>, (C) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for UBER or for a substantial part of its assets, (D) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (E) make a general assignment for the benefit of creditors or (F) take any action for the purpose of effecting any of the foregoing in this <u>clause (ii)</u>.

**SECTION 10 REMEDIES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1&nbsp;&nbsp;&nbsp;&nbsp;<u>General</u>. Upon and during the continuance of any one or more Events of Default, (i) Administrative Agent may, and at the direction of the Required Lenders shall, accelerate and demand payment of all or any part of the Secured Obligations (together with any Prepayment Premium) and declare them to be immediately due and payable (provided, that upon the occurrence of an Event of Default of the type described in <u>Section 9.5</u>, all of the Secured Obligations shall automatically be accelerated and made due and payable, in each case without any further notice or act), (ii) Administrative Agent may, at its option, sign and file in any Loan Party's name, any and all collateral assignments, notices, control agreements, security agreements and other documents it deems necessary or appropriate to perfect or protect the repayment of the Secured Obligations, and in furtherance thereof, each Loan Party hereby grants Administrative Agent an irrevocable power of attorney coupled with an interest, and (iii) Administrative Agent may notify any of Loan Party's account debtors to make payment directly to Administrative Agent, compromise the amount of any such account on such Loan Party's behalf and endorse Administrative Agent's name without recourse on any such payment for deposit directly to Administrative Agent's account. Administrative Agent may, and at the direction of the Required Lenders shall, exercise all rights and remedies with respect to the Collateral under the Loan Documents or otherwise available to it under the UCC and other applicable law, including the right to release, hold, sell, lease, liquidate, collect, realize upon, or otherwise dispose of all or any part of the Collateral and the right to occupy, utilize, process and commingle the Collateral. All Administrative Agent's rights and remedies shall be cumulative and not exclusive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Credit Bidding</u>. The Loan Parties hereby irrevocably authorize the Administrative Agent, at the direction of the Required Lenders, to credit bid all or any portion of the Obligations (including accepting some or all of the Collateral in satisfaction of some or all of the Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner (including through any sub-agent), subject to any applicable intercreditor agreement, purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral (a) at any sale thereof conducted under the provisions of the Bankruptcy Code, including under Sections 363, 1123 or 1129 of the Bankruptcy Code, or any similar Laws in any other jurisdictions to which a Loan Party is subject, (b) at any other sale or foreclosure or acceptance of collateral in lieu of debt conducted by (or with the consent or at the direction of) the Administrative Agent (whether by judicial action or otherwise) in accordance with any applicable Law. In connection with any such

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credit bid and purchase, the Obligations owed to the Loan Parties shall be entitled to be, and shall be, credit bid on a ratable basis (with Obligations with respect to contingent or unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that would vest upon the liquidation of such claims in an amount proportional to the liquidated portion of the contingent claim amount used in allocating the contingent interests) in the asset or assets so purchased (or in the Equity Interests or debt instruments of the acquisition vehicle or vehicles that are used to consummate such purchase). In connection with any such bid the Administrative Agent shall be authorized to (i) form one or more acquisition vehicles to make a bid, (ii) to adopt documents providing for the governance and other terms of the acquisition vehicle or vehicles (provided that any actions by the Administrative Agent with respect to such acquisition vehicle or vehicles, including any Disposition of the assets or Equity Interests thereof shall be governed, directly or indirectly, by the vote of the Required Lenders, irrespective of the termination of this Agreement and without giving effect to the limitations on actions by the Required Lenders contained in clauses (i) through (x) of <u>Section 10.1(a)</u> of this Agreement), and (iii) to the extent that Obligations that are assigned to an acquisition vehicle are not used to acquire Collateral for any reason (as a result of another bid being higher or better, because the amount of Obligations assigned to the acquisition vehicle exceeds the amount of debt credit bid by the acquisition vehicle or otherwise), such Obligations shall automatically be reassigned to the Lenders pro rata and the Equity Interests and/or debt instruments issued by any acquisition vehicle on account of the Obligations that had been assigned to the acquisition vehicle shall automatically be cancelled, without the need for any Loan Party or any acquisition vehicle to take any further action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Cumulative Remedies</u>. The rights, powers and remedies of each Agent hereunder and under the other Loan Documents shall be in addition to all rights, powers and remedies given by statute or rule of law and are cumulative. The exercise of any one or more of the rights, powers and remedies provided herein or under any other Loan Document shall not be construed as a waiver of or election of remedies with respect to any other rights, powers and remedies of either Agent.

**SECTION 11 MISCELLANEOUS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under such law, such provision shall be ineffective only to the extent and duration of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice</u>. Except as otherwise provided herein, any notice, demand, request, consent, approval, declaration, service of process or other communication (including the delivery of Financial Statements) that is required, contemplated, or permitted under the Loan Documents or with respect to the subject matter hereof shall be in writing, and shall be deemed to have been validly served, given, delivered, and received upon the earlier of: (i) the day of transmission by electronic mail or hand delivery or delivery by an overnight express service or overnight mail delivery service; or (ii) the third calendar day after deposit in the United States mails, with proper first class postage prepaid, in each case addressed to the party to be notified as follows:

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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;(a)&nbsp;&nbsp;&nbsp;&nbsp;If to the Initial Administrative Agent:

Alter Domus (US) LLC

225 W. Washington St., 9<sup>th</sup> Floor

Chicago, IL 60606

Attention: Legal Department, Steve Lenard and Andrew Tlapa

E-mail: [\*\*\*]; [\*\*\*]; and [\*\*\*]

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

Norton Rose Fulbright US LLP

1301 Avenue of the Americas

New York, New York 10019-6022

Attention: Stephen Castro

E-mail: [\*\*\*]

&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 to Collateral Agent or the Administrative Agent following the Notice of Successor Effective Date:

Diameter Finance Administration LLC

55 Hudson Yards Suite 29B

New York, NY 10001

Attention: Shailini Rao and Ben Pasternack

E-mail: [\*\*\*] and [\*\*\*]

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

Milbank LLP

55 Hudson Yards

New York, New York 10001

Attention: Albert Pisa and Maya Grant

E-mail: [\*\*\*] 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;If to Borrower:

Neutron Holdings, Inc.

85 2nd Street

San Francisco, CA 94115

Attention: [\*\*\*]

E-mail: [\*\*\*]

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

Latham & Watkins LLP

505 Montgomery Street

Suite 2000

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San Francisco, CA 94111-6538

Attention: Sarah Axtell

E-mail: [\*\*\*]

&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;If to a Lender, at its address specified in any administrative questionnaire delivered to, and in a form acceptable to, the Administrative Agent, or such other address as shall be designated by such Lender in a written notice to the Borrower and the Administrative Agent;

or to such other address as each party may designate for itself by like notice.

The Borrower hereby acknowledges that (a) the Administrative Agent will make available to the Lenders materials and/or information provided by or on behalf of the Borrower hereunder (collectively, "**Borrower Materials**") by posting the Borrower Materials on the Platform and (b) certain of the Lenders (each, a "**Public Lender**") may have personnel who do not wish to receive information that is (i) of a type that would be publicly available (or could be derived from publicly available information) if the Borrower were a public reporting company and (ii) material with respect to the Borrower or any of its securities for purposes of United States federal and state securities laws (all such information described in the foregoing, "**MNPI**"). The Borrower hereby agrees that (w) at the Administrative Agent's request, it will use commercially reasonable efforts to cause all Borrower Materials to be identified as either (A) "PUBLIC" (which, at a minimum, shall mean that the word "PUBLIC" shall appear prominently on the first page thereof) or (B) "PRIVATE"; (x) by marking the Borrower Materials "PUBLIC," the Borrower shall be deemed to have authorized the Administrative Agent and the Lenders to treat such Borrower Materials as not containing any MNPI (although it may be sensitive and proprietary); (y) all Borrower Materials marked "PUBLIC" are permitted to be made available through a portion of the Platform designated "Public Side Information," and (z) the Administrative Agent shall be entitled to treat any Borrower Materials that are not marked "PUBLIC" as being suitable only for posting on a portion of the Platform not designated "Public Side Information" (it being understood that the Borrower and its Subsidiaries shall not otherwise be under any obligation to mark any particular Borrower Materials "PUBLIC"). Notwithstanding anything herein to the contrary, financial statements, compliance certificates and other documentation delivered pursuant to <u>Section 7.1</u> shall be deemed to be suitable for posting on a portion of the Platform designated for "Public Side Information." Unless expressly marked "PUBLIC" and subject to the prior sentence, the Administrative Agent agrees not to make any such Borrower Materials available to Public Lenders.

The foregoing shall not apply to notices to any Lender pursuant to <u>Section 2.1(b)</u> if such Lender, as applicable, has notified the Administrative Agent that it is incapable of receiving, or is unwilling to receive, notices under such <u>Section 2.1(b)</u> by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications.

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THE PLATFORM IS PROVIDED "AS IS" AND "AS AVAILABLE." THE ADMINISTRATIVE AGENT AND ITS AFFILIATES AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, PARTNERS, AGENTS, ADVISORS AND OTHER REPRESENTATIVES OF EACH OF THE FOREGOING (COLLECTIVELY, THE "***AGENT-RELATED-PERSONS***") DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT-RELATED PERSON IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall any Agent-Related Person have any liability to the Borrower, any Lender or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower's or the Administrative Agent's transmission of Borrower Materials through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and non-appealable judgment to have resulted from the gross negligence or willful misconduct of such Agent-Related Person; provided, however, that in no event shall any Agent-Related Person have any liability to the Borrower, any Lender or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement; Amendments</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;This Agreement and the other Loan Documents constitute the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and thereof, and supersede and replace in their entirety any prior proposals, term sheets, non-disclosure or confidentiality agreements, letters, negotiations or other documents or agreements, whether written or oral, with respect to the subject matter hereof or 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;Neither this Agreement, any other Loan Document, nor any terms hereof or thereof may be amended, supplemented or modified except in accordance with the provisions of this <u>Section 11.3(b)</u>. The Required Lenders and Borrower party to the relevant Loan Document may, or, with the written consent of the Required Lenders, Administrative Agent and Borrower party to the relevant Loan Document may, from time to time, (i) enter into written amendments, supplements or modifications hereto and to the other Loan Documents for the purpose of adding any provisions to this Agreement or the other Loan Documents or changing in any manner the rights of Lender or of Borrower hereunder or thereunder or (ii) waive, on such terms and conditions as the Required Lenders or Administrative Agent, as the case may be, may specify in such instrument, any of the requirements of this Agreement or the other Loan Documents or any Default or Event of Default and its consequences; provided, however, that no such waiver and no such amendment, supplement or modification shall (A) forgive the principal amount or extend the final scheduled date of maturity of any Loan, extend the scheduled date of any amortization payment in respect of any Term Loan Advance, reduce the stated rate of any

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interest or fee payable hereunder, or extend the scheduled date of any payment thereof, in each case without the written consent of each Lender directly affected thereby; (B) eliminate or reduce the voting rights of any Lender under this <u>Section 11.3(b)</u> without the written consent of such Lender; (C) reduce any percentage specified in the definition of Required Lenders, consent to the assignment or transfer by Borrower of any of its rights and obligations under this Agreement and the other Loan Documents, release all or substantially all of the Collateral or release Borrower from its obligations under the Loan Documents, in each case without the written consent of all Lenders; or (D) amend, modify or waive any provision of <u>Section 11.17</u> without the written consent of Administrative Agent. Any such waiver and any such amendment, supplement or modification shall apply equally to each Lender and shall be binding upon Borrower, Lender, Administrative Agent and all future holders of the Loans. Neither this Agreement nor any other Loan Document shall be amended in any manner that affects the rights, responsibilities, obligations, protections or immunities of the Administrative Agent without the Administrative Agent's prior written consent thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4&nbsp;&nbsp;&nbsp;&nbsp;<u>No Strict Construction</u>. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.5&nbsp;&nbsp;&nbsp;&nbsp;<u>No Waiver</u>. The powers conferred upon each Agent and Lender by this Agreement are solely to protect its rights hereunder and under the other Loan Documents and its interest in the Collateral and shall not impose any duty upon each Agent or Lender to exercise any such powers. No omission or delay by any Agent or Lender at any time to enforce any right or remedy reserved to it, or to require performance of any of the terms, covenants or provisions hereof by Borrower at any time designated, shall be a waiver of any such right or remedy to which such Agent or Lender is entitled, nor shall it in any way affect the right of such Agent or Lender to enforce such provisions thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival</u>. All agreements, representations and warranties contained in this Agreement and the other Loan Documents or in any document delivered pursuant hereto or thereto shall be for the benefit of each Agent and Lender and Borrower and shall survive the execution and delivery of this Agreement. <u>Section 11.12</u> and <u>Section 11.14</u> shall survive the termination of this Agreement. Any indemnity provided to each Agent hereunder or in any other Loan Document by the Borrower or the Lenders shall survive the termination of this Agreement and the resignation or replacement of such Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns</u>. The provisions of this Agreement and the other Loan Documents shall inure to the benefit of and be binding on Borrower and its permitted assigns (if any). Neither Borrower, nor any of its Subsidiaries, shall assign its obligations under this Agreement or any of the other Loan Documents without Administrative Agent's (acting at the direction of the Required Lenders) express prior written consent, and any such attempted assignment shall be void and of no effect. Lender may assign, transfer, or endorse its rights hereunder and under the other Loan Documents without prior notice to Borrower, and all of such

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rights shall inure to the benefit of Administrative Agent's and Lender's successors and assigns; provided that no Lender may assign or participate any of its Loans or rights hereunder to the Borrower or any Affiliate of the Borrower; provided, further, that as long as no Event of Default has occurred and is continuing, no Lender may assign, transfer or endorse its rights hereunder or under the Loan Documents to any party that is a direct competitor of Borrower or a distressed debt or vulture investor (as reasonably determined by Borrower), it being acknowledged that in all cases, any transfer to a Controlled Investment Affiliate of any Lender shall be allowed. The parties to each assignment shall manually execute and deliver to the Administrative Agent an assignment and assumption agreement in form and substance satisfactory to the Administrative Agent (or, if previously agreed with the Administrative Agent, via an electronic settlement system acceptable to the Administrative Agent), together with a processing and recordation fee of $3,500 (the Agent, in its sole discretion, may elect to waive such processing and recording fee in the case of any assignment). The assignee, if it is not a Lender, shall promptly deliver to the Administrative Agent an administrative questionnaire, all "know your customer" documentation and any tax forms reasonably requested by the Administrative Agent. Administrative Agent, acting solely for this purpose as a non-fiduciary agent of Borrower, shall maintain a copy of each assignment and assumption agreement delivered to it in connection with any assignment by a Lender, and a register for the recordation of the names and addresses of each Lender, and the Term Loan Commitments of, and principal amounts (and stated interest) of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the "Register"). The entries in the Register shall be conclusive absent manifest error, and Borrower, Administrative Agent and Lender shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by Borrower and Lender, at any reasonable time and from time to time upon reasonable prior written notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. This Agreement and the other Loan Documents shall be governed by, and construed and enforced in accordance with, the laws of the State of New York (including any claims sounding in contract or tort law arising out of the subject matter hereof and any determinations with respect to post-judgment interest).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Consent to Jurisdiction and Venue</u>. All judicial proceedings (to the extent that the reference requirement of <u>Section 11.10</u> is not applicable) arising in or under or related to this Agreement or any of the other Loan Documents may be brought in any state or federal court located in the State of New York located in the City of New York, Borough of Manhattan, or of the United States sitting in the Southern District of New York. By execution and delivery of this Agreement, each party hereto generally and unconditionally: (a) consents to exclusive personal jurisdiction in State of New York located in the City of New York, Borough of Manhattan or of the United States sitting in the Southern District of New York; (b) waives any objection as to jurisdiction or venue in State of New York located in the City of New York, Borough of Manhattan, or of the United States sitting in the Southern District of New York; (c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement or the other Loan Documents following the exhaustion of all rights with respects to appeals relating thereto. Service of process on any party hereto in any action arising out of or

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relating to this Agreement shall be effective if given in accordance with the requirements for notice set forth in <u>Section 11.2</u>, and shall be deemed effective and received as set forth in <u>Section 11.2</u>. Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Mutual Waiver of Jury Trial / Judicial Reference</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;Because disputes arising in connection with complex financial transactions are most quickly and economically resolved by an experienced and expert Person and the parties wish applicable state and federal laws to apply (rather than arbitration rules), the parties desire that their disputes be resolved by a judge applying such applicable laws. EACH OF BORROWER, AGENT AND LENDER, TO THE EXTENT PERMITTED BY LAW, SPECIFICALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, "CLAIMS") ASSERTED BY BORROWER AGAINST AGENT, LENDER OR THEIR RESPECTIVE ASSIGNEE OR BY AGENT, LENDER OR THEIR RESPECTIVE ASSIGNEE AGAINST BORROWER IN CONNECTION WITH OR RELATING TO, THIS AGREEMENT, THE OTHER LOAN DOCUMENTS AND ANY OTHER TRANSACTION CONTEMPLATED HEREBY AND THEREBY. This waiver extends to all such Claims, including Claims that involve Persons other than Agent, Borrower and Lender; Claims that arise out of or are in any way connected to the relationship among Borrower, Agent and Lender; and any Claims for damages, breach of contract, tort, specific performance, or any equitable or legal relief of any kind, arising out of this Agreement, any other Loan Document.

&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 Claims are to be resolved by judicial reference, either party may seek from a court identified in <u>Section 11.9</u>, any prejudgment order, writ or other relief and have such prejudgment order, writ or other relief enforced to the fullest extent permitted by law notwithstanding that all Claims are otherwise subject to resolution by judicial reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Professional Fees; Indemnification</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>Professional Fees</u>. Borrower promises to pay reasonable fees and expenses incurred by Agent and Lender, limited in the case of legal fees and expenses to the reasonable, fees, charges and disbursements of a single counsel for the Initial Administrative Agent, a single counsel for the other Agents and a single counsel for Lender (and, to the extent reasonably necessary, one local counsel in each relevant material jurisdiction, and in the event of an actual or reasonably perceived conflict of interest, one additional primary counsel and one additional local counsel in each relevant material jurisdiction for similarly situated conflicted parties) in connection with the due diligence performed in connection with the arrangement of the credit facilities provided for herein and the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents, including but not limited to reasonable attorneys' fees, UCC searches, filing costs, and other miscellaneous expenses. In addition, Borrower promises to pay any and all reasonable attorneys' and other professionals' fees and expenses incurred by Agent and Lender after the Closing Date, limited in the case of

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legal fees and expenses to the reasonable, fees, charges and disbursements of a single counsel for the Initial Administrative Agent, a single counsel for the other Agents and a single counsel for Lender (and, to the extent reasonably necessary, one local counsel in each relevant material jurisdiction, and in the event of an actual or reasonably perceived conflict of interest, one additional primary counsel and one additional local counsel in each relevant material jurisdiction for similarly situated conflicted parties) in connection with or related to: (a) the Loan; (b) the administration, collection, or enforcement of the Loan (including the enforcement of this <u>Section 11.11(a)</u>); (c) the amendment or modification of the Loan Documents; (d) any waiver, consent, release, or termination under the Loan Documents; (e) the protection, preservation, audit, field exam, sale, lease, liquidation, or Disposition of Collateral or the exercise of remedies with respect to the Collateral; (f) any legal, litigation, administrative, arbitration, or out of court proceeding in connection with or related to Borrower or the Collateral, and any appeal or review thereof; and (g) any bankruptcy, restructuring, reorganization, assignment for the benefit of creditors, workout, foreclosure, or other action related to Borrower, the Collateral, the Loan Documents, including representing Agent or Lender in any adversary proceeding or contested matter commenced or continued by or on behalf of Borrower's estate, and any appeal or review 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification by the Loan Parties</u>. The Loan Parties shall indemnify the Agent (and any sub-agent thereof), the Lenders, and each Related Party of any of the foregoing Persons (each such Person being called an "<u>Indemnitee</u>") against, and hold each Indemnitee harmless (on an after tax basis) from, any and all losses, claims, causes of action, damages, liabilities, settlement payments, costs, and related expenses (including, in the case of legal fees and expenses to the reasonable, fees, charges and disbursements of a single counsel for the Initial Administrative Agent, a single counsel for the other Agents and a single counsel for Lender, to the extent reasonably necessary, one local counsel in each relevant material jurisdiction and in the event of an actual or reasonably perceived conflict of interest, one additional primary counsel and one additional local counsel in each relevant material jurisdiction for similarly situated conflicted parties) for all indemnified persons, incurred by any Indemnitee or asserted against any Indemnitee by any third party or by the Borrower or any other Loan Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document, the performance by the parties hereto of their respective obligations hereunder or thereunder, the consummation of the Transactions contemplated hereby or thereby, or the administration of this Agreement and the other Loan Documents (including, with respect to the Agent, any special, indirect, consequential or punitive damages that may arise pursuant to any Account Control Agreement among the Borrower, Agent and the applicable account bank and which is related to the Transactions contemplated hereby), (ii) any Loan or the use or proposed use of the proceeds therefrom, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by any Loan Party or any of its Subsidiaries, or any environmental liability related in any way to any Loan Party or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower or any other Loan Party or any of the Loan Parties' directors, shareholders or creditors, and regardless of whether any Indemnitee is a party thereto, in all cases, whether or not caused by or arising, in whole or in part, out of the comparative,

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contributory or sole negligence of the Indemnitee; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and non-appealable judgment to have resulted from (1) (A) with respect to the Agent or any of its Related Parties, the gross negligence or willful misconduct of the Agent or (B) with respect to all other Indemnitees, the gross negligence, bad faith, or willful misconduct of such Indemnitee or any of its Related Parties, or (2) disputes solely among Indemnitees (other than any claims against an Indemnitee in its capacity or in fulfilling its role as an agent (including Agent) or any similar role hereunder or under any Loan Document and other than any claims arising from an act or omission of a Loan Party) or (3) a claim brought by the Borrower or any other Loan Party against an Indemnitee for a material intentional breach of such Indemnitee's (or its Related Parties') obligations hereunder; provided that, this <u>sub-clause (3)</u> shall not apply to the Agent. Without limiting the provisions of <u>Section 2.7</u>, this <u>Section 11.11(b)</u> shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.

&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>Waiver of Consequential Damages, Etc</u>. To the fullest extent permitted by Law, the Loan Parties shall not assert, and hereby waive, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the Transactions contemplated hereby or thereby, any Loan or the use of the proceeds 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments</u>. All amounts due under this Section shall be payable on demand 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation of Liability</u>. No Indemnitee shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the Transactions contemplated hereby or thereby other than for direct or actual damages resulting from the gross negligence or willful misconduct of such Indemnitee as determined by a final and nonappealable judgment of 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival</u>. The agreements in this Section and the indemnity provisions of <u>Section 11.11(f)</u> shall survive the resignation or replacement of the Agent, the assignment of any Term Loan Commitment or Loan by any Lender, the replacement of any Lender, the termination of the Term Loan Commitments and the repayment, satisfaction or discharge of all the other Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidentiality</u>. Agent and Lender acknowledge that certain items of Collateral and information provided to Agent and Lender by Borrower are confidential and proprietary information of Borrower, if and to the extent such information either (i) is marked as confidential by such Borrower at the time of disclosure, or (ii) should reasonably be understood to be confidential (the "<u>Confidential</u> <u>Information</u>"). Accordingly, Agent and Lender agree that any Confidential Information it may obtain in the course of acquiring, administering, or perfecting Agent's security interest in the Collateral shall not be disclosed to any other Person or entity in

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any manner whatsoever, in whole or in part, without the prior written consent of Borrower, except that Agent and Lender may disclose any such information: (a) to its own directors, officers, employees, accountants, counsel and other professional advisors and to its Affiliates and limited partners; provided, that such recipient of such Confidential Information either (i) agrees to be bound by the confidentiality provisions of this paragraph or (ii) is otherwise subject to confidentiality restrictions that reasonably protect against the disclosure of Confidential Information; (b) if such information is generally available to the public; (c) if required or appropriate in any report, statement or testimony submitted to any Governmental Authority having or claiming to have jurisdiction over Agent or Lender; (d) if required or appropriate in response to any summons or subpoena or in connection with any litigation, to the extent permitted or deemed advisable by Agent's or Lender's counsel; (e) to comply with any legal requirement or law applicable to Agent or Lender; (f) to the extent reasonably necessary in connection with the exercise of any right or remedy under any Loan Document, including Agent's sale, lease, or other Disposition of Collateral after Default; (g) to any assignee of Agent or Lender or any prospective assignee; provided, that such assignee or prospective assignee agrees in writing to be bound by this Section prior to disclosure; or (h) otherwise with the prior consent of Borrower; provided, that any disclosure made in violation of this Agreement shall not affect the obligations of Borrower or any of its Affiliates or any guarantor under this Agreement or the other Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Assignment of Rights</u>. Borrower acknowledges and understands that Agent or Lender may, subject to <u>Section 11.7</u>, sell and assign all or part of its interest hereunder and under the Loan Documents to any Person or entity (an "<u>Assignee</u>"). After such assignment the term "<u>Agent</u>" or "<u>Lenders</u>" as used in the Loan Documents shall mean and include such Assignee, and such Assignee shall be vested with all rights, powers, remedies, obligations and duties of Agent and Lender hereunder with respect to the interest so assigned; but with respect to any such interest not so transferred, Agent and Lender shall retain all rights, powers, remedies, duties and obligations hereby given. No such assignment by Agent or Lender shall relieve Borrower of any of its obligations hereunder. Lender agrees that in the event of any transfer by it of the Term Note(s)(if any), it will endorse thereon a notation as to the portion of the principal of the Term Note(s), which shall have been paid at the time of such transfer and as to the date to which interest shall have been last paid thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Revival of Secured Obligations; Termination</u>. This Agreement and the Loan Documents shall remain in full force and effect and continue to be effective if any petition is filed by or against Borrower for liquidation or reorganization, if Borrower becomes insolvent or makes an assignment for the benefit of creditors, if a receiver or trustee is appointed for all or any significant part of Borrower's assets, or if any payment or transfer of Collateral is recovered from Agent or Lender. The Loan Documents and the Secured Obligations and Collateral security shall continue to be effective, or shall be revived or reinstated, as the case may be, if at any time payment and performance of the Secured Obligations or any transfer of Collateral to Agent, or any part thereof is rescinded, avoided or avoidable, reduced in amount, or must otherwise be restored or returned by, or is recovered from Agent, Lender or by any obligee of the Secured Obligations, whether as a "voidable preference," "fraudulent conveyance," or otherwise, all as though such payment, performance, or transfer of Collateral had not been made. In the event that

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any payment, or any part thereof, is rescinded, reduced, avoided, avoidable, restored, returned, or recovered, the Loan Documents and the Secured Obligations (other than obligations that survive termination) shall be deemed, without any further action or documentation, to have been revived and reinstated except to the extent of the full, final, and payment in cash to Agent or Lender in cash. This Agreement and the Loan Documents shall terminate on the payment in full in cash of the Secured Obligations (other than any obligations that specifically survive termination).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Agreement and any amendments, waivers, consents or supplements hereto may be executed in any number of counterparts, and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement by telecopy, pdf or other electronic transmission shall be as effective as delivery of a manually executed counterpart of this Agreement. The words "execution," "execute", "signed," "signature," and words of like import in or related to any document to be signed in connection with this Agreement and the Transactions contemplated hereby (including without limitation assignment and assumptions, amendments or other Advance Requests, waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.16&nbsp;&nbsp;&nbsp;&nbsp;<u>No Third Party Beneficiaries</u>. No provisions of the Loan Documents are intended, nor will be interpreted, to provide or create any third-party beneficiary rights or any other rights of any kind in any Person other than Agent, Lender and Borrower unless specifically provided otherwise herein, and, except as otherwise so provided, all provisions of the Loan Documents will be personal and solely among Agent, Lender and Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Agency</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;Lender hereby irrevocably appoints Alter Domus to act on its behalf as the Initial Administrative Agent hereunder and under the other Loan Documents and authorizes the Initial Administrative Agent (and each successor Administrative Agent in accordance with this <u>Section 11.17</u>) to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. It is understood and agreed that the use of the term "agent" herein or in any other Loan Document (or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties. Notwithstanding the foregoing, the Lenders and the Borrower agree that Diameter shall be appointed as the successor Administrative Agent as soon as reasonably

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practicable after the Closing Date by notice in writing (the "<u>Notice of Successor Agent Effective</u> <u>Date</u>") to the Borrower and the Initial Administrative Agent.

&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;With effect from the Notice of Successor Agent Effective Date (i) the Initial Administrative Agent shall be discharged from its duties and obligations hereunder and under the Loan Documents and (ii) except for any indemnity payments owed to the Initial Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to the successor Administrative Agent. Upon Diameter's appointment as Administrative Agent hereunder, Diameter shall succeed to and become vested with all of the rights, powers, privileges and duties of the Initial Administrative Agent (other than any rights to indemnity payments owed to the Initial Administrative Agent), and the Initial Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). After the Initial Administrative Agent's removal hereunder and under the other Loan Documents, the provisions of <u>Section 11.11</u> and <u>Section 11.17</u> shall continue in effect for the benefit of such Initial Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the Initial Administrative Agent was acting as the Administrative Agent.

&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;Lender hereby irrevocably appoints Diameter to act on its behalf as the Collateral Agent hereunder and under the other Loan Documents and authorizes the Collateral Agent to take such actions on its behalf and to exercise such powers as are delegated to the Collateral by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. It is understood and agreed that the use of the term "agent" herein or in any other Loan Document (or any other similar term) with reference to the Collateral Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties.

&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;Lender agrees to indemnify Agent in its capacity as such (to the extent not reimbursed by Borrower and without limiting the obligation of Borrower to do so), according to its respective Term Loan Commitment percentages (based upon the total outstanding Term Loan Commitments) in effect on the date on which indemnification is sought under this <u>Section 11.17</u>, from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time be imposed on, incurred by or asserted against Agent in any way relating to or arising out of, this Agreement, any of the other Loan Documents or any documents contemplated by or referred to herein or therein or the Transactions contemplated hereby or thereby or any action taken or omitted by Agent under or in connection with any of the foregoing (including, with respect to the Agent, any special, indirect, consequential or punitive damages that may arise pursuant to an Account Control Agreement among the Borrower, Agent and the applicable account bank and which is related to the Transactions contemplated hereby). The agreements in this Section shall survive the payment of the Loans and all other amounts payable hereunder and the resignation or replacement of Agent.

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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;<u>Agent in Its Individual Capacity</u>. The Person serving as Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not Agent and the term "Lenders" shall, unless otherwise expressly indicated or unless the context otherwise requires, include each such Person serving as Agent hereunder in its individual capacity.

&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;<u>Exculpatory Provisions</u>. Agent shall have no duties or obligations under any of the Loan Documents except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, Agent shall not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;be subject to any fiduciary or other implied duties, regardless of whether any Default or any 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that Agent is required to exercise as directed in writing by the Required Lenders (or any other percentage or portion of Lenders as expressly set forth herein (including when expressly stated, Lender)), provided that Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose Agent to liability or that is contrary to any Loan Document or applicable 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and Agent shall not be liable for the failure to disclose, any information relating to Borrower or any of its Affiliates that is communicated to or obtained by any Person serving as Agent or any of its Affiliates in any capacity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;have any liability for any action taken, or errors in judgment made, in good faith by it or any of its officers, employees or agents, unless it shall have been negligent in ascertaining the pertinent facts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;be required to expend or risk any of its own funds or otherwise incur any liability, financial or otherwise, in the performance of any of its duties hereunder or under any other Loan Document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;have any liability for any special, punitive, indirect or consequential loss or damages of any kind (including, but not limited to loss of profit) relating to this Agreement or any other Loan Document or arising out of its activities in connection herewith or therewith irrespective of whether it has been previously advised of the likelihood of such loss or damage and regardless of the form of 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;(vii)&nbsp;&nbsp;&nbsp;&nbsp;be deemed to have knowledge of any Default or Event of Default, or any duty to act upon such Default or Event of Default (including sending any notice related thereto), unless and until written notice labeled "Event of Default"

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or similar description describing such Default or Event of Default is received by a responsible officer of the Agent from Borrower or Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;be responsible for or have any duty to monitor the performance or any action of the Borrower, or any of its directors, members, officers, agents, affiliates or employees, or shall it have any liability in connection with the malfeasance or nonfeasance by such party (for the avoidance of doubt, the Agent may assume performance by all such Persons of their respective obligations and shall not have any enforcement or notification obligations relating to breaches of representations or warranties of any other Person unless expressly directed by the Required Lenders);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;incur any liability for not performing any act or fulfilling any duty, obligation or responsibility hereunder by reason of any occurrence beyond the control of the Agent (including but not limited to any act or provision of any present or future law or regulation or governmental authority, any act of God or war, epidemic, pandemic, civil unrest, local or national disturbance or disaster, any act of terrorism, or the unavailability of the Federal Reserve Bank wire or facsimile or other wire or communication facility); 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;(x)&nbsp;&nbsp;&nbsp;&nbsp;have any obligation to file or record any financing statements, notices, instruments, documents, agreements, consents or other papers as shall be necessary to create, preserve, perfect or validate any security interest granted to the Agent pursuant to any Loan Document.

&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;Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or any other percentage or portion of Lenders as expressly set forth herein (including when expressly stated, Lender)) or as Agent shall believe in good faith shall be necessary, under the circumstances or (ii) in the absence of its own gross negligence or willful misconduct.

&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;Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default or Event of Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in <u>Section 3</u> or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to Agent.

&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>Reliance by Agent</u>. Agent may rely, and shall be fully protected in acting, or refraining to act, upon, any resolution, statement, certificate, instrument, opinion, report, notice, request, consent, order, bond or other paper or document that it has no reason to believe to be other than genuine and to have been signed or presented by the proper party or parties or, in

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the case of cables, telecopies and telexes, to have been sent by the proper party or parties. In the absence of its gross negligence or willful misconduct, Agent may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to Agent and conforming to the requirements of this Agreement or any of the other Loan Documents. Agent may consult with counsel (which may be counsel for the Borrower or Lender), and any opinion or legal advice of such counsel shall be full and complete authorization and protection in respect of any action taken, not taken or suffered by Agent hereunder or under any Loan Documents in accordance therewith. Agent shall have the right at any time to seek instructions concerning the administration of the Collateral from any court of competent jurisdiction. Agent shall not be under any obligation to exercise any of the rights or powers granted to Agent by this Agreement and the other Loan Documents at the request or direction of the Required Lenders (or any other percentage or portion of Lenders as expressly set forth herein (including when expressly stated, Lender)) unless Agent shall have been provided by such Lender(s) with adequate security and indemnity against the costs, expenses and liabilities that may be incurred by it in compliance with such request or direction.

&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;The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession if such Collateral is accorded treatment substantially equivalent to that which the Collateral Agent, in its individual capacity, accords its own property consisting of similar instruments or interests, it being understood that neither the Collateral Agent nor any of the other Loan Parties shall have responsibility for, without limitation (i) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relating to any Securities Collateral (as defined in the Guaranty and Security Agreement), whether or not the Collateral Agent or any other Loan Party has or is deemed to have knowledge of such matters or (ii) taking any necessary steps to preserve rights against any Person with respect to any Collateral.

&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;<u>Certain ERISA Matters</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;(i)&nbsp;&nbsp;&nbsp;&nbsp;Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and its Affiliates, and not, for the avoidance of doubt, to the Borrower or any other Loan Party, that at least one of the following is and will be true:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;Lender is not using "plan assets" (within the meaning of Section 3(42) of ERISA or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) of one or more Benefit Plans in connection with the Loan, the Term Loan Commitment or 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;&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 prohibited transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain

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transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable so as to exempt from the prohibitions of Section 406 of ERISA and Section 4975 of the Code Lender's entrance into, participation in, administration of and performance of the Loans, the Term Loan Commitment and 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;&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;(A) Lender is an investment fund managed by a "Qualified Professional Asset Manager" (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of Lender to enter into, participate in, administer and perform the Loan, the Term Loan Commitment and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loan, the Term Loan Commitment, and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender's entrance into, participation in, administration of and performance of the Loan, the Term Loan Commitment and this Agreement, 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;such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 addition, unless either (1) <u>sub-clause (A)</u> in the immediately preceding <u>clause (i)</u> is true with respect to Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with <u>sub-clause (D)</u> in the immediately preceding <u>clause (i)</u>, Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and its Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that none of the Administrative Agent or any of its Affiliates is a fiduciary with respect to the assets of Lender involved in the Loan, the Term Loan Commitment and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related to hereto or 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;(l)&nbsp;&nbsp;&nbsp;&nbsp;Whenever reference is made in this Agreement or any other Loan Document, to any discretionary action by, consent, designation, specification, requirement or approval of, notice, request or other communication from, or other direction given or action to be

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undertaken or to be (or not to be) suffered or omitted by the Agent or to any election, decision, opinion, acceptance, use of judgment, expression of satisfaction or other exercise of discretion, rights or remedies to be made (or not to be made) by the Agent, it is understood that in all cases that such permissive rights shall not be construed as a duty of the Agent and the Agent shall not have any duty to act, and shall be fully justified in failing or refusing to take any such action, if it has not received written instruction, advice or concurrence from the Required Lenders (or any other percentage or portion of Lenders as expressly set forth herein (including when expressly stated, Lender)) in respect of 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;(m)&nbsp;&nbsp;&nbsp;&nbsp;If at any time the Agent is served with any judicial or administrative order, judgment, decree, writ or other form of judicial or administrative process (including orders of attachment or garnishment or other forms of levies or injunctions or stays relating to the transfer of any collateral), the Agent is authorized to comply therewith in any manner as it or its legal counsel of its own choosing deems appropriate, and if the Agent complies with any such judicial or administrative order, judgment, decree, writ or other form of judicial or administrative process, the Agent shall not be liable to any of the parties hereto or to any other person even though such order, judgment, decree, writ or process may be subsequently modified or vacated or otherwise determined to have been without legal force or effect.

&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;The Agent may perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents appointed by the Agent. The Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of the Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Agent. The Agent shall not be responsible for the negligence or misconduct of any sub-agent except to the extent that a court of competent jurisdiction determines in a final and non-appealable judgment that the Agent acted with gross negligence or willful misconduct in the selection of such sub-agent.

&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;The Agent may resign at any time by giving thirty (30) days' (or such shorter period as shall be agreed by the Required Lenders) prior written notice thereof to Lenders and the Borrower. Upon any such notice of resignation, Required Lenders shall have the right, with the Borrower's written consent (other than during the existence of an Event of Default), to appoint a successor Agent. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days after the retiring Agent gives notice of its resignation, then the retiring Agent may, on behalf of Lenders, appoint, or petition a court of competent jurisdiction to appoint at the expense (including all fees, costs, and expenses (including attorneys' fees and expenses) incurred in connection with such petition) of Borrower, a successor Agent from among the Lenders. Upon the acceptance of any appointment as Agent hereunder by a successor Agent, that successor Agent shall thereupon succeed to and become vested with all the rights (other than the right to any fees, expenses, indemnities or other reimbursable amounts due and owing to the retiring Agent), powers, privileges and duties of the retiring Agent, and the retiring Agent shall promptly, at the expense of the Borrower (i) transfer to such successor Agent all sums, securities, and other items of Collateral held by it under the

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Loan Documents, together with all records and other documents held by it necessary or appropriate in connection with the performance of the duties of the successor Agent under the Loan Documents, and (ii) execute and deliver to such successor Agent such amendments to financing statements and take such other actions, as may be deemed by the Agent to be necessary or appropriate in connection with the assignment to such successor Agent of the security interests created under the Collateral Documents, whereupon such retiring Agent shall be discharged from its duties and obligations hereunder. Notwithstanding the foregoing, if no successor Agent has accepted an appointment by the Agent, on behalf of the Lenders, within thirty (30) days after the Agent appoints or petitions a court to appoint such successor Agent, the retiring Agent's resignation shall be deemed effective, and Borrower shall appoint the successor Agent, as applicable, on behalf of the Lenders, without their further consent. After any retiring Agent's resignation hereunder the resigning Agent shall be paid any and all of its fees, expenses and indemnity accrued hereunder through the date of resignation, and the provisions of this <u>Section 11</u> shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent 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;(p)&nbsp;&nbsp;&nbsp;&nbsp;Any entity into which the Agent in its individual capacity may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidations which the Agent in its individual capacity may be party, or any corporation to which substantially all of the corporate trust or agency business of the Agent in its individual capacity may be transferred, shall be the Agent under this Agreement and any other Loan Document to which it is a party without further action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Publicity</u>. None of the parties hereto nor any of its respective member businesses and Affiliates shall, without the other parties' prior written consent (which shall not be unreasonably withheld or delayed), publicize or use (a) the other party's name (including a brief description of the relationship among the parties hereto), logo or hyperlink to such other parties' web site, separately or together, in written and oral presentations, advertising, promotional and marketing materials, client lists, public relations materials or on its web site (together, the "<u>Publicity Materials</u>"); (b) the names of officers of such other parties in the Publicity Materials; and (c) such other parties' name, trademarks, service marks in any news or press release concerning such party; provided however, notwithstanding anything to the contrary herein, no such consent shall be required (i) to the extent necessary to comply with the requests of any regulators, legal requirements or laws applicable to such party, pursuant to any listing agreement with any national securities exchange (so long as such party provides prior notice to the other party hereto to the extent reasonably practicable) and (ii) to comply with <u>Section 11.12</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Release</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;Any Lien on any property granted to or held by the Agent under any Loan Document shall terminate upon the date which Obligations are paid in full (other than contingent indemnification or reimbursement obligations not yet due and payable) and all Term Loan Commitments have expired or been terminated; provided, that in connection with the termination of the Term Loan Commitments and satisfaction of the Obligations as set forth above, the Agent may require such indemnities it shall reasonably deem necessary or appropriate to protect the

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Loan Parties against loss on account of credits previously applied to the Obligations that may subsequently be reversed or revoked; provided, further, that any such Liens granted pursuant to the Loan Documents shall be reinstated if at any time payment, or any part thereof, of any Loan Agreement Obligation is rescinded or must otherwise be restored by any Loan Party upon the bankruptcy or reorganization of any Loan Party. At the request and sole expense of any Loan Party following any such termination, the Agent shall deliver to such Loan Party any Collateral held by the Agent under any Loan Document, and execute and deliver to such Loan Party such termination or other documents as such Loan Party shall reasonably request to evidence such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement and Consent to Bail-In of Affected Financial Institutions</u>. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;the effects of any Bail-in Action on any such liability, including, if applicable: (i) a reduction in full or in part or cancellation of any such liability; (ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial Institution, its Borrower undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement

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or any other Loan Document; or (iii) the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of the applicable Resolution Authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.21&nbsp;&nbsp;&nbsp;&nbsp;<u>Erroneous Payments</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;If the Administrative Agent (x) notifies Lender or any Person who has received funds on behalf of Lender (any such Lender or other recipient (and each of their respective successors and assigns), a "Payment Recipient") that the Administrative Agent has determined in its sole discretion (whether or not after receipt of any notice under immediately succeeding <u>clause (b)</u>) that any funds (as set forth in such notice from the Administrative Agent) received by such Payment Recipient from the Administrative Agent or any of its Affiliates were erroneously or mistakenly transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Lender or other Payment Recipient on its behalf) (any such funds, whether transmitted or received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise, individually and collectively, an "<u>Erroneous</u> <u>Payment</u>") and (y) demands in writing the return of such Erroneous Payment (or a portion thereof), such Erroneous Payment shall at all times remain the property of the Administrative Agent pending its return or repayment as contemplated below in this <u>Section 11.21</u> and held in trust for the benefit of the Administrative Agent, and such Lender shall (or, with respect to any Payment Recipient who received such funds on its behalf, shall cause such Payment Recipient to) promptly, but in no event later than two Business Days thereafter (or such later date as the Administrative Agent may, in its sole discretion, specify in writing), return to the Administrative Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency so received), together with interest thereon (except to the extent waived in writing by the Administrative Agent) in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Payment Recipient to the date such amount is repaid to the Administrative Agent in same day funds at the greater of the Treasury Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect. A notice of the Administrative Agent to any Payment Recipient under this <u>clause (a)</u> shall be conclusive, absent manifest error.

&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;Without limiting immediately preceding <u>clause (a)</u>, each Lender or any Person who has received funds on behalf of a Lender (and each of their respective successors and assigns), agrees that if it receives a payment, prepayment or repayment (whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise) from the Administrative Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that specified in this Agreement or in a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates) with respect to such payment, prepayment or repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates), or (z) that such Lender or other such recipient, otherwise becomes aware was transmitted, or received, in error or by mistake (in whole or in part), then in each such case:

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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;(i)&nbsp;&nbsp;&nbsp;&nbsp;it acknowledges and agrees that (A) in the case of immediately preceding clauses (x) or (y), an error and mistake shall be presumed to have been made (absent written confirmation from the Administrative Agent to the contrary) or (B) an error and mistake has been made (in the case of immediately preceding <u>clause (z)</u>), in each case, with respect to such payment, prepayment or repayment; 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;such Lender shall use commercially reasonable efforts to (and shall use commercially reasonable efforts to cause any other recipient that receives funds on its respective behalf to) promptly (and, in all events, within one Business Day of its knowledge of the occurrence of any of the circumstances described in immediately preceding clauses (x), (y) and (z)) notify the Administrative Agent of its receipt of such payment, prepayment or repayment, the details thereof (in reasonable detail) and that it is so notifying the Administrative Agent pursuant to this <u>Section 11.21(b)</u>.

For the avoidance of doubt, the failure to deliver a notice to the Administrative Agent pursuant to this <u>Section 11.21(b)</u> shall not have any effect on a Payment Recipient's obligations pursuant to <u>Section 11.21(a)</u> or on whether or not an Erroneous Payment has been 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender hereby authorizes the Administrative Agent to set off, net and apply any and all amounts at any time owing to such Lender under any Loan Document, or otherwise payable or distributable by the Administrative Agent to such Lender under any Loan Document with respect to any payment of principal, interest, fees or other amounts, against any amount that the Administrative Agent has demanded to be returned under immediately preceding <u>clause (a)</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;(d)&nbsp;&nbsp;&nbsp;&nbsp;The parties hereto agree that (x) irrespective of whether the Administrative Agent may be equitably subrogated, in the event that an Erroneous Payment (or portion thereof) is not recovered from any Payment Recipient that has received such Erroneous Payment (or portion thereof) for any reason, the Administrative Agent shall be subrogated to all the rights and interests of such Payment Recipient (and, in the case of any Payment Recipient who has received funds on behalf of a Lender, to the rights and interests of such Lender) under the Loan Documents with respect to such amount (the "<u>Erroneous Payment Subrogation Rights</u>") and (y) an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by the Borrower; provided that this <u>Section 11.21</u> shall not be interpreted to increase (or accelerate the due date for), or have the effect of increasing (or accelerating the due date for), the Obligations of the Borrower relative to the amount (or timing for payment) of the Obligations that would have been payable had such Erroneous Payment not been made by the Administrative Agent; provided, further, that for the avoidance of doubt, immediately preceding <u>clauses (x)</u> and <u>(y)</u> shall not apply to the extent any such Erroneous Payment is, and solely with respect to the amount of such Erroneous Payment that is, comprised of funds received by the Administrative Agent from, or on behalf of (including through the exercise of remedies under any Loan Document), the Borrower for the purpose of a payment on the Obligations.

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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;To the extent permitted by Applicable Law, no Payment Recipient shall assert any right or claim to an Erroneous Payment, and hereby waives, and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by the Administrative Agent for the return of any Erroneous Payment received, including, without limitation, any defense based on "discharge for value" or any similar doctrine.

Each party's obligations, agreements and waivers under this <u>Section 11.21</u> shall survive the resignation or replacement of the Administrative Agent, any transfer of rights or obligations by, or the replacement of, a Lender, the termination of the applicable Term Loan Commitments or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document.

[*Signature Pages Follow*]

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**IN WITNESS WHEREOF**, Borrower, Agent and Lender have duly executed and delivered this Agreement as of the day and year first above written.

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| | |
|:---|:---|
| **NEUTRON HOLDINGS, INC.**, as Borrower | **NEUTRON HOLDINGS, INC.**, as Borrower |
| Signature: | /s/ Wayne Ting |
| Name: Wayne Ting | Name: Wayne Ting |
| Title: Chief Executive Officer | Title: Chief Executive Officer |

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[*Signature Page to Credit Agreement*]

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| | |
|:---|:---|
| **ALTER DOMUS (US) LLC,** as Initial | **ALTER DOMUS (US) LLC,** as Initial |
| Administrative Agent | Administrative Agent |
| Signature: | /s/ Pinju Chiu |
| Name: Pinju Chiu | Name: Pinju Chiu |
| Title: Associate Counsel | Title: Associate Counsel |

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[*Signature Page to Credit Agreement*]

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| | |
|:---|:---|
| **DIAMETER FINANCE** | **DIAMETER FINANCE** |
| **ADMINISTRATION LLC,** as Collateral | **ADMINISTRATION LLC,** as Collateral |
| Agent | Agent |
| By: Diameter Capital Partners LP, its sole member | By: Diameter Capital Partners LP, its sole member |
| Signature: | /s/ Shailini Rao |
| Name: Shailini Rao | Name: Shailini Rao |
| Title: Co-Chief Operating Officer & General  | Title: Co-Chief Operating Officer & General  |
| Counsel | Counsel |

---

[*Signature Page to Credit Agreement*]

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| | |
|:---|:---|
| **DLF MASTER INVESTMENTS I LLC,** as a Lender | **DLF MASTER INVESTMENTS I LLC,** as a Lender |
| By: DLF I LLC, its sole member | By: DLF I LLC, its sole member |
| By: Diameter Principal Finance Partnership LP, its special member | By: Diameter Principal Finance Partnership LP, its special member |
| Signature: | /s/ Shailini Rao |
| Name: Shailini Rao | Name: Shailini Rao |
| Title: Co-Chief Operating Officer & General  | Title: Co-Chief Operating Officer & General  |
| Counsel | Counsel |

---

[*Signature Page to Credit Agreement*]

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---

| | |
|:---|:---|
| **ADS LEMON SPV LLC,** as a Lender | **ADS LEMON SPV LLC,** as a Lender |
| By: Apollo Debt Solutions BDC, its member | By: Apollo Debt Solutions BDC, its member |
| Signature: | /s/ Kristin Hester |
| Name: Kristin Hester | Name: Kristin Hester |
| Title: Chief Legal Officer | Title: Chief Legal Officer |
| **ADCF LEMON SPV LLC,** as a Lender | **ADCF LEMON SPV LLC,** as a Lender |
| By: Apollo Diversified Credit Fund, its member | By: Apollo Diversified Credit Fund, its member |
| Signature: | /s/ Kristin Hester |
| Name: Kristin Hester | Name: Kristin Hester |
| Title: Chief Legal Officer | Title: Chief Legal Officer |

---

[*Signature Page to Credit Agreement*]

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**FIRST AMENDMENT TO CREDIT AGREEMENT**

This **FIRST AMENDMENT TO CREDIT AGREEMENT** (this "<u>Amendment</u>"), dated as of August 28, 2024, is made and entered into by and between **NEUTRON HOLDINGS**, **INC.**, a Delaware corporation (the "<u>Borrower</u>"), the Lenders party hereto (together, the "<u>Lenders</u>"), and **DIAMETER FINANCE ADMINISTRATION LLC**, as Administrative Agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, the "<u>Agent</u>").

**WHEREAS**, the Borrower, the Lenders and Alter Domus (US) LLC, as Initial Administrative Agent, and Diameter Finance Administration LLC, as collateral agent for the Lenders, are parties to that certain Credit Agreement, dated as of October 5, 2023 (the "<u>Existing Credit Agreement</u>", and the Existing Credit Agreement as modified by this Amendment, the "<u>Amended Credit Agreement</u>");

**WHEREAS**, the Borrower has requested certain modifications to the Credit Agreement as set forth herein, and pursuant to Section 11.3(b) of the Existing Credit Agreement, the Borrower, the Lenders party hereto, constituting the Required Lenders, and the Agent are permitted to amend the Existing Credit Agreement and desire to amend the Existing Credit Agreement on the terms and conditions set forth herein.

**WHEREAS**, the Required Lenders authorize and direct the Agent to enter into this Agreement.

**NOW**, **THEREFORE**, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Definitions</u>. Except as otherwise expressly provided herein, capitalized terms used in this Amendment shall have the meanings given in the Existing Credit Agreement, and the rules of interpretation set forth in the Existing Credit Agreement shall apply to this Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Amendment to Existing Credit Agreement</u>. Subject to the satisfaction of the conditions precedent specified in Section 3 below, effective as of the Effective 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;(i)Clause(s) of the defined term "<u>Permitted Indebtedness</u>" in the Existing Credit Agreement is hereby amended by deleting the term "$15,000,000" and replacing such term with "$75,000,000".

&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)Subclause (i) of clause (n) of the defined term "<u>Permitted Liens</u>" in the Existing Credit Agreement is hereby amended by deleting the term "clause (d)" and replacing such term with "clause (e)".

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Effectiveness</u>. This Amendment shall become effective only if and when each of the following conditions precedent are satisfied (the date on which all such conditions are so satisfied is referred to herein as the "<u>Effective 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;(i)<u>Counterparts</u>. The Lenders shall have received executed counterparts of this Amendment, signed by the Borrower and the Lenders, and each such party shall have delivered its fully executed signature pages hereto to the Lenders.

&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)<u>Fees and Expenses</u>. The Lenders shall have received payment for all fees and reasonable and documented out-of-pocket expenses required to be paid by the Borrower under any Loan Document that are invoiced to Borrower on or prior to the date hereof, including, the reasonable legal fees and expenses of Milbank LLP, special counsel to Lenders.

&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)<u>No Default or Event of Default</u>. As of the Effective Date, after giving effect to the terms of this Amendment, no Default or Event of Default shall have occurred and be 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;(iv)<u>Representations and Warranties</u>. The representations and warranties of each Loan Party set forth in Section 4 hereof are true and correct in all material respects (without duplication of any materiality qualifier contained therein) as of the Effective Date, both immediately prior to and immediately after giving effect to the terms contemplated by this Amendment, or, to the extent that such representation or warranty expressly relates to an earlier date, any such representation or warranty shall have been true and correct in all material respects as of such earlier date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Representations and Warranties</u>. In order to induce the other parties hereto to enter into this Amendment, each Loan Party hereby represents and warrants as of the Effective Date to the Lenders, which representations and warranties shall survive the execution and delivery of this Amendment, 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;(i)each of the representations and warranties made by any Loan Party set forth in the Credit Agreement or in any other Loan Document are true and correct in all material respects on and as of the date hereof, both immediately prior to and immediately after giving effect to the terms contemplated by this Amendment, with the same effect as though made on the date hereof, except to the extent such representations and warranties expressly relate to an earlier date in which case such representations and warranties are true and correct in all material respects as of such earlier 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;(ii)at the time of and immediately after giving effect to the terms of this Amendment, no Default or Event of Default has occurred and is continuing, 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;(iii)as of the Effective Date, no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Effect of Amendment, Etc.</u> Except as expressly set forth herein, (a) this Amendment shall not by implication or otherwise limit, impair or constitute a waiver of or

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otherwise affect the rights and remedies of the Lenders or the Agent, in each case under the Existing Credit Agreement or any other Loan Document; and (b) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Existing Credit Agreement or any other Loan Document. Except as expressly set forth herein, each and every term, condition, obligation, covenant and agreement contained in the Existing Credit Agreement and any other Loan Document is hereby ratified and re-affirmed in all respects and shall continue in full force and effect and the Borrower hereby reaffirms its obligations under the Loan Documents to which it is party. From and after the Effective Date, all references to the Existing Credit Agreement in any Loan Document and all references in the Existing Credit Agreement to "this Agreement," "hereunder," "hereof" or words of like import referring to the Existing Credit Agreement, shall, unless expressly provided otherwise, refer to the Amended Credit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Miscellaneous</u>. Section 11.8 (*Governing Law*), Section 11.9 (*Consent to Jurisdiction and Venue*) and Section 11.10 (*Mutual Waiver of Jury Trial / Judicial Reference*) of the Amended Credit Agreement are incorporated herein by reference, *mutatis mutandis*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Loan Document</u>. This Amendment shall be deemed to be a Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.<u>Counterparts</u>. This Amendment may be executed in any number of counterparts, and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by telecopy, pdf or other electronic transmission shall be as effective as delivery of a manually executed counterpart of this Amendment. The words "execution," "execute", "signed," "signature," and words of like import in or related to any document to be signed in connection with this Amendment and the transactions contemplated hereby shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.<u>Headings</u>. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.<u>Reaffirmation</u>. The Loan Parties signatory hereto hereby reaffirm their guaranties of the Obligations and reaffirm that the Obligations are and continue to be guaranteed and secured by the security interest granted by the Loan Parties in favor of the Lender, under the Loan Documents and, notwithstanding the effectiveness of this Amendment or any of the transactions contemplated hereby, such guarantees, grants of security interests and other obligations, and all of the terms, conditions, provisions, agreements, requirements, promises, obligations, duties, covenants and representations of the Loan Parties under such documents and

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agreements entered into with respect to the Obligations under the Amended Credit Agreement are hereby ratified and affirmed in all respects by the Loan Parties, and shall continue to be in full force and effect. Each Loan Party acknowledges that all references to "Credit Agreement" in the Loan Documents shall take into account the provisions of this Amendment and be a reference to the "Amended Credit Agreement".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.<u>No Novation</u>. By its execution of this Amendment, each of the parties hereto acknowledges and agrees that the terms of this Amendment do not constitute a novation, but, rather, a supplement of the terms of a pre-existing indebtedness and related agreement, as evidenced by the Credit Agreement.

[*Signature Pages Follow*]

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**IN WITNESS WHEREOF**, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.

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| | |
|:---|:---|
| **NEUTRON HOLDINGS**, **INC.**,<br>as the Borrower | **NEUTRON HOLDINGS**, **INC.**,<br>as the Borrower |
| By: | /s/ Ann Gugino |
| Name: | Ann Gugino |
| Title: | CFO |

---

[*Signature Page to First Amendment to Credit Agreement*]

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| | |
|:---|:---|
| **DIAMETER FINANCE ADMINISTRATION LLC**, as Administrative Agent | **DIAMETER FINANCE ADMINISTRATION LLC**, as Administrative Agent |
| By: Diameter Capital Partners LP, its sole member | By: Diameter Capital Partners LP, its sole member |
| By: | /s/ Michael Cohn |
| Name: | Michael Cohn |
| Title: | General Counsel & CCO |

---

[*Signature Page to First Amendment to Credit Agreement*]

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| | |
|:---|:---|
| **DLF MASTER INVESTMENTS I LLC**, <br>as a Lender | **DLF MASTER INVESTMENTS I LLC**, <br>as a Lender |
| By: DLF I LLC, its sole member | By: DLF I LLC, its sole member |
| By: Diameter Principal Finance Partnership LP, <br>its special member | By: Diameter Principal Finance Partnership LP, <br>its special member |
| By: | /s/ Michael Cohn |
| Name: | Michael Cohn |
| Title: | General Counsel & CCO |

---

[*Signature Page to First Amendment to Credit Agreement*]

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| | |
|:---|:---|
| **APOLLO DEBT SOLUTIONS BDC**, as a Lender | **APOLLO DEBT SOLUTIONS BDC**, as a Lender |
| By: Apollo Credit Management, LLC, its <br>investment adviser | By: Apollo Credit Management, LLC, its <br>investment adviser |
| By: | /s/ Kristin Hester |
| Name: | Kristin Hester |
| Title: | Vice President |
| **APOLLO DIVERSIFIED CREDIT FUND**, as a Lender | **APOLLO DIVERSIFIED CREDIT FUND**, as a Lender |
| By: | /s/ Kristin Hester |
| Name: | Kristin Hester |
| Title: | Chief Legal Officer |

---

[*Signature Page to First Amendment to Credit Agreement*]

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**SECOND AMENDMENT TO CREDIT AGREEMENT**

This **SECOND AMENDMENT TO CREDIT AGREEMENT** (this "<u>Amendment</u>"), dated as of October 6, 2025, is made and entered into by and between **NEUTRON HOLDINGS**, **INC**., a Delaware corporation (the "<u>Borrower</u>"), the Lenders party hereto (together, the "<u>Lenders</u>"), and **DIAMETER FINANCE ADMINISTRATION LLC**, as Administrative Agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, the "Agent").

**WHEREAS**, the Borrower, the Lenders and Alter Domus (US) LLC, as Initial Administrative Agent, and Diameter Finance Administration LLC, as collateral agent for the Lenders, are parties to that certain Credit Agreement, dated as of October 5, 2023, as amended by First Amendment to Credit Agreement, dated as of August 28, 2024 (the "<u>Existing Credit</u> <u>Agreement</u>", and the Existing Credit Agreement as modified by this Amendment, the "<u>Amended Credit Agreement</u>");

**WHEREAS**, the Borrower has requested certain modifications to the Credit Agreement as set forth herein, and pursuant to Section 11.3(b) of the Existing Credit Agreement, the Borrower, the Lenders party hereto, constituting the Required Lenders, and the Agent are permitted to amend the Existing Credit Agreement and desire to amend the Existing Credit Agreement on the terms and conditions set forth herein.

**WHEREAS**, the Required Lenders authorize and direct the Agent to enter into this Agreement.

**NOW**, **THEREFORE**, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Definitions</u>. Except as otherwise expressly provided herein, capitalized terms used in this Amendment shall have the meanings given in the Existing Credit Agreement, and the rules of interpretation set forth in the Existing Credit Agreement shall apply to this Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Amendment to Existing Credit Agreement</u>. Subject to the satisfaction of the conditions precedent specified in Section 3 below, effective as of the Effective 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;(i)The following defined term "Swap Contracts" is added to Section 1.1 Certain Defined Terms:

""<u>Swap Contract</u>" means (a) any and all rate swap transactions, forward rate transactions, commodity swaps, forward commodity contracts, forward foreign exchange transactions, currency swap transactions, cross-currency rate swap transactions, spot contracts, or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any other similar transactions or any combination of any

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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 (any such master agreement, together with any related schedules, a "<u>Master Agreement</u>"), including any such obligations or liabilities under any Master Agreement, in each case for the purpose of hedging the foreign currency, interest rate or commodity risk associated with the operations. Notwithstanding the foregoing, Swap Contract shall not include any equity swaps, options or forwards to which the Borrower or any Subsidiary is party that are classified and accounted for in the Borrower's stockholders' equity under GAAP."

&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)The defined term "Permitted Indebtedness" in the Existing Credit Agreement is hereby amended by adding clause (t):

"(t)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness incurred under any Swap Contracts entered into in the ordinary course of business, and not for speculative purposes, to protect against changes in interest rates or foreign exchange rates."

&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)The defined term "Permitted Investments" in the Existing Credit Agreement is hereby amended by adding clause (t):

"(t)&nbsp;&nbsp;&nbsp;&nbsp;Investments in Swap Contracts permitted under clause (t) of the definition of "Permitted Indebtedness"."

&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)The defined term "Permitted Transfers" in the Existing Credit Agreement is hereby amended by adding clause (h):

"(h)&nbsp;&nbsp;&nbsp;&nbsp;the unwinding of any Swap Contract in accordance with its terms."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Effectiveness</u>. This Amendment shall become effective only if and when each of the following conditions precedent are satisfied (the date on which all such conditions are so satisfied is referred to herein as the "Effective 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;(i)<u>Counterparts</u>. The Lenders shall have received executed counterparts of this Amendment, signed by the Borrower and the Lenders, and each such party shall have delivered its fully executed signature pages hereto to the Lenders.

&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)<u>Fees and Expenses</u>. The Lenders shall have received payment for all fees and reasonable and documented out-of-pocket expenses required to be paid by the Borrower under any Loan Document that are invoiced to Borrower on or prior to the date hereof, including, the reasonable legal fees and expenses of Milbank LLP, special counsel to Lenders.

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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;(iii)<u>No Default or Event of Default</u>. As of the Effective Date, after giving effect to the terms of this Amendment, no Default or Event of Default shall have occurred and be 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;(iv)<u>Representations and Warranties</u>. The representations and warranties of each Loan Party set forth in Section 4 hereof are true and correct in all material respects (without duplication of any materiality qualifier contained therein) as of the Effective Date, both immediately prior to and immediately after giving effect to the terms contemplated by this Amendment, or, to the extent that such representation or warranty expressly relates to an earlier date, any such representation or warranty shall have been true and correct in all material respects as of such earlier date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Representations and Warranties</u>. In order to induce the other parties hereto to enter into this Amendment, each Loan Party hereby represents and warrants as of the Effective Date to the Lenders, which representations and warranties shall survive the execution and delivery of this Amendment, 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;(i)each of the representations and warranties made by any Loan Party set forth in the Credit Agreement or in any other Loan Document are true and correct in all material respects on and as of the date hereof, both immediately prior to and immediately after giving effect to the terms contemplated by this Amendment, with the same effect as though made on the date hereof, except to the extent such representations and warranties expressly relate to an earlier date in which case such representations and warranties are true and correct in all material respects as of such earlier 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;(ii)at the time of and immediately after giving effect to the terms of this Amendment, no Default or Event of Default has occurred and is continuing, 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;(iii)as of the Effective Date, no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Effect of Amendment, Etc</u>. Except as expressly set forth herein, (a) this Amendment shall not by implication or otherwise limit, impair or constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Agent, in each case under the Existing Credit Agreement or any other Loan Document; and (b) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Existing Credit Agreement or any other Loan Document. Except as expressly set forth herein, each and every term, condition, obligation, covenant and agreement contained in the Existing Credit Agreement and any other Loan Document is hereby ratified and re-affirmed in all respects and shall continue in full force and effect and the Borrower hereby reaffirms its obligations under the Loan Documents to which it is party. From and after the Effective Date, all references to the Existing Credit Agreement in any Loan Document and all references in the Existing Credit Agreement to "this Agreement," "hereunder," "hereof" or words of like import referring to the Existing Credit Agreement, shall, unless expressly provided otherwise, refer to the Amended Credit Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Miscellaneous</u>. Section 11.8 (*Governing Law*), Section 11.9 (*Consent to Jurisdiction and Venue*) and Section 11.10 (*Mutual Waiver of Jury Trial / Judicial Reference*) of the Amended Credit Agreement are incorporated herein by reference, *mutatis mutandis*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Loan Document</u>. This Amendment shall be deemed to be a Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.<u>Counterparts</u>. This Amendment may be executed in any number of counterparts, and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by telecopy, pdf or other electronic transmission shall be as effective as delivery of a manually executed counterpart of this Amendment. The words "execution," "execute", "signed," "signature," and words of like import in or related to any document to be signed in connection with this Amendment and the transactions contemplated hereby shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.<u>Headings</u>. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.<u>Reaffirmation</u>. The Loan Parties signatory hereto hereby reaffirm their guaranties of the Obligations and reaffirm that the Obligations are and continue to be guaranteed and secured by the security interest granted by the Loan Parties in favor of the Lender, under the Loan Documents and, notwithstanding the effectiveness of this Amendment or any of the transactions contemplated hereby, such guarantees, grants of security interests and other obligations, and all of the terms, conditions, provisions, agreements, requirements, promises, obligations, duties, covenants and representations of the Loan Parties under such documents and agreements entered into with respect to the Obligations under the Amended Credit Agreement are hereby ratified and affirmed in all respects by the Loan Parties, and shall continue to be in full force and effect. Each Loan Party acknowledges that all references to "Credit Agreement" in the Loan Documents shall take into account the provisions of this Amendment and be a reference to the "Amended Credit Agreement".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.<u>No Novation</u>. By its execution of this Amendment, each of the parties hereto acknowledges and agrees that the terms of this Amendment do not constitute a novation, but, rather, a supplement of the terms of a pre-existing indebtedness and related agreement, as evidenced by the Credit Agreement.

[*Signature Pages Follow*]

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**IN WITNESS WHEREOF**, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.

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| | |
|:---|:---|
| **NEUTRON HOLDINGS**, **INC**.,<br>as the Borrower | **NEUTRON HOLDINGS**, **INC**.,<br>as the Borrower |
| By: | /s/ Ann Gugino |
| Name: | Ann Gugino |
| Title: | CFO |

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| | |
|:---|:---|
| **DIAMETER FINANCE ADMINISTRATION LLC**, as Administrative Agent | **DIAMETER FINANCE ADMINISTRATION LLC**, as Administrative Agent |
| By: | /s/ Michael Cohn |
| Name: | Michael Cohn |
| Title: | General Counsel |

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[*Signature Page to Second Amendment to Credit Agreement*]

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| | |
|:---|:---|
| **DLF MASTER INVESTMENTS I LLC**, <br>as a Lender | **DLF MASTER INVESTMENTS I LLC**, <br>as a Lender |
| By: DLF I LLC, its sole member | By: DLF I LLC, its sole member |
| By: Diameter Principal Finance Partnership LP, <br>its special member | By: Diameter Principal Finance Partnership LP, <br>its special member |
| By: | /s/ Michael Cohn |
| Name: | Michael Cohn |
| Title: | General Counsel |

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[*Signature Page to Second Amendment to Credit Agreement*]

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| | |
|:---|:---|
| **APOLLO DEBT SOLUTIONS BDC**, as a Lender | **APOLLO DEBT SOLUTIONS BDC**, as a Lender |
| By: Apollo Capital Credit Adviser, LLC, its <br>investment adviser | By: Apollo Capital Credit Adviser, LLC, its <br>investment adviser |
| By: | /s/ Kristin Hester |
| Name: | Kristin Hester |
| Title: | Vice President |
| **APOLLO DIVERSIFIED CREDIT FUND**, as a Lender | **APOLLO DIVERSIFIED CREDIT FUND**, as a Lender |
| By: Apollo Capital Credit Adviser, LLC, its investment manager | By: Apollo Capital Credit Adviser, LLC, its investment manager |
| By: | /s/ Kristin Hester |
| Name: | Kristin Hester |
| Title: | Vice President |
| **ADL CLO 1 LLC**, as a Lender | **ADL CLO 1 LLC**, as a Lender |
| By: Apollo Debt Solutions BDC, its designated manager | By: Apollo Debt Solutions BDC, its designated manager |
| By: Apollo Credit Management, LLC, its <br>investment adviser | By: Apollo Credit Management, LLC, its <br>investment adviser |
| By: | /s/ Kristin Hester |
| Name: | Kristin Hester |
| Title: | Vice President |

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[*Signature Page to Second Amendment to Credit Agreement*]

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**THIRD AMENDMENT TO CREDIT AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;This **THIRD AMENDMENT TO CREDIT AGREEMENT** (this "<u>Amendment</u>"), dated as of March 13, 2026, is made and entered into by and between **NEUTRON HOLDINGS, INC.**, a Delaware corporation (the "<u>Borrower</u>"), the Lenders party hereto (together, the "<u>Lenders</u>"), and **DIAMETER FINANCE ADMINISTRATION LLC**, as Administrative Agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, the "Agent").

&nbsp;&nbsp;&nbsp;&nbsp;**WHEREAS**, the Borrower, the Lenders and Alter Domus (US) LLC, as Initial Administrative Agent, and Diameter Finance Administration LLC, as collateral agent for the Lenders, are parties to that certain Credit Agreement, dated as of October 5, 2023, as amended by First Amendment to Credit Agreement, dated as of August 28, 2024, and as further amended by Second Amendment to Credit Agreement, dated as of October 6, 2025 (the "<u>Existing Credit Agreement</u>", and the Existing Credit Agreement as modified by this Amendment, the "<u>Amended Credit Agreement</u>");

&nbsp;&nbsp;&nbsp;&nbsp;**WHEREAS**, the Borrower has requested certain modifications to the Credit Agreement as set forth herein, and pursuant to Section 11.3(b) of the Existing Credit Agreement, the Borrower, the Lenders party hereto, constituting the Required Lenders, and the Agent are permitted to amend the Existing Credit Agreement and desire to amend the Existing Credit Agreement on the terms and conditions set forth herein.

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

**WHEREAS**, the Required Lenders authorize and direct the Agent to enter into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;**NOW, THEREFORE**, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Definitions</u>. Except as otherwise expressly provided herein, capitalized terms used in this Amendment shall have the meanings given in the Existing Credit Agreement, and the rules of interpretation set forth in the Existing Credit Agreement shall apply to this Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment to Existing Credit Agreement</u>. Subject to the satisfaction of the conditions precedent specified in Section 3 below, effective as of the Effective Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)Clause (s) of the defined term "Permitted Indebtedness" in the Existing Credit Agreement is hereby amended by deleting the term "$75,000,000" and replacing such term with "$125,000,000".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)The defined term "Permitted Indebtedness" in the Existing Credit Agreement is hereby amended by adding clause (u):

"(u)&nbsp;&nbsp;&nbsp;&nbsp;unsecured Indebtedness arising under Guarantees and similar instruments issued by the Borrower (including Guarantees issued by the Borrower in respect of the obligations of any of its Subsidiaries) in connection with any request for proposals, tenders, concessions, licenses, permits, franchises, contracts for goods, services or equipment, or other business operations, entered into with cities, municipalities, or any other Governmental Authority with whom the Borrower or any its Subsidiaries conducts or intends to conduct business, including all obligations, liabilities and indemnities arising thereunder, and, in each case, not in connection with any Indebtedness for borrowed money."

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)The defined term "Permitted Investments" in the Existing Credit Agreement is hereby amended by adding clause (u):

"(u)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness permitted under clause (u) of the definition of "Permitted Indebtedness" to the extent such Indebtedness constitutes Investments."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)The defined term "Permitted Investments" in the Existing Credit Agreement is hereby amended by amending and restating clause (c) as follows:

"(c) Repurchases by Borrower of its Equity Interests issued to departing managers, advisory members, officers, employees, consultants, directors or other service providers of Borrower, or departing officers, employees, consultants or other consultants of any Loan Party who are acting in such capacity on behalf of Borrower of Equity Interests of Borrower, provided that the aggregate amount of such repurchases per Fiscal Year shall not exceed $3,000,000 per Fiscal Year and no default known to Borrower or Event of Default shall have occurred or be continuing; provided further that, notwithstanding the foregoing, in connection with the settlement of Indebtedness represented by the promissory notes listed on Schedule 1B, Equity Interests of the Borrower may be repurchased or otherwise taken possession of by the Borrower, including through netting arrangements, so long as no default known to Borrower or Event of Default shall have occurred or be continuing;"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)Section 7.7 in the Existing Credit Agreement is hereby amended by amending and restating clause (c) as follows:

"(c) waive, release or forgive any Indebtedness (other than Indebtedness represented by promissory notes listed on Schedule 1B, which, for the avoidance of doubt, may be waived, released or forgiven by the Borrower as the Borrower may reasonably determine) owed by any departing employees, officers, managers or directors in excess of $750,000 in the aggregate so long as no default known to Borrower or Event of Default has occurred or is continuing;"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Effectiveness</u>. This Amendment shall become effective only if and when each of the following conditions precedent are satisfied (the date on which all such conditions are so satisfied is referred to herein as the "<u>Effective Date</u>"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. The Lenders shall have received executed counterparts of this Amendment, signed by the Borrower and the Lenders, and each such party shall have delivered its fully executed signature pages hereto to the Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) &nbsp;&nbsp;&nbsp;&nbsp;<u>Fees and Expenses</u>. The Lenders shall have received payment for all fees and reasonable and documented out-of-pocket expenses required to be paid by the Borrower under any Loan Document that are invoiced to Borrower on or prior to the date hereof, including, the reasonable legal fees and expenses of Milbank LLP, special counsel to Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;<u>No Default or Event of Default</u>. As of the Effective Date, after giving effect to the terms of this Amendment, no Default or Event of Default shall have occurred and be continuing.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties</u>. The representations and warranties of each Loan Party set forth in Section 4 hereof are true and correct in all material respects (without duplication of any materiality qualifier contained therein) as of the Effective Date, both immediately prior to and immediately after giving effect to the terms contemplated by this Amendment, or, to the extent that such representation or warranty expressly relates to an earlier date, any such representation or warranty shall have been true and correct in all material respects as of such earlier date.

&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties</u>. In order to induce the other parties hereto to enter into this Amendment, each Loan Party hereby represents and warrants as of the Effective Date to the Lenders, which representations and warranties shall survive the execution and delivery of this Amendment, that:

&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;each of the representations and warranties made by any Loan Party set forth in the Credit Agreement or in any other Loan Document are true and correct in all material respects on and as of the date hereof, both immediately prior to and immediately after giving effect to the terms contemplated by this Amendment, with the same effect as though made on the date hereof, except to the extent such representations and warranties expressly relate to an earlier date in which case such representations and warranties are true and correct in all material respects as of such earlier date,

&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;at the time of and immediately after giving effect to the terms of this Amendment, no Default or Event of Default has occurred and is continuing, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;as of the Effective Date, no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing.

&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Amendment, Etc.</u> Except as expressly set forth herein, (a) this Amendment shall not by implication or otherwise limit, impair or constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Agent, in each case under the Existing Credit Agreement or any other Loan Document; and (b) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Existing Credit Agreement or any other Loan Document. Except as expressly set forth herein, each and every term, condition, obligation, covenant and agreement contained in the Existing Credit Agreement and any other Loan Document is hereby ratified and re-affirmed in all respects and shall continue in full force and effect and the Borrower hereby reaffirms its obligations under the Loan Documents to which it is party. From and after the Effective Date, all references to the Existing Credit Agreement in any Loan Document and all references in the Existing Credit Agreement to "this Agreement," "hereunder," "hereof" or words of like import referring to the Existing Credit Agreement, shall, unless expressly provided otherwise, refer to the Amended Credit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Miscellaneous</u>. Section 11.8 (*Governing Law*), Section 11.9 (*Consent to Jurisdiction and Venue*) and Section 11.10 (*Mutual Waiver of Jury Trial / Judicial Reference*) of the Amended Credit Agreement are incorporated herein by reference, *mutatis mutandis*.

&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Loan Document</u>. This Amendment shall be deemed to be a Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Amendment may be executed in any number of counterparts, and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by telecopy, pdf or other electronic transmission shall be as effective as delivery of a manually executed counterpart of this Amendment. The

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words "execution," "execute", "signed," "signature," and words of like import in or related to any document to be signed in connection with this Amendment and the transactions contemplated hereby shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Headings</u>. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.

&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;<u>Reaffirmation</u>. The Loan Parties signatory hereto hereby reaffirm their guaranties of the Obligations and reaffirm that the Obligations are and continue to be guaranteed and secured by the security interest granted by the Loan Parties in favor of the Lender, under the Loan Documents and, notwithstanding the effectiveness of this Amendment or any of the transactions contemplated hereby, such guarantees, grants of security interests and other obligations, and all of the terms, conditions, provisions, agreements, requirements, promises, obligations, duties, covenants and representations of the Loan Parties under such documents and agreements entered into with respect to the Obligations under the Amended Credit Agreement are hereby ratified and affirmed in all respects by the Loan Parties, and shall continue to be in full force and effect. Each Loan Party acknowledges that all references to "Credit Agreement" in the Loan Documents shall take into account the provisions of this Amendment and be a reference to the "Amended Credit Agreement".

&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Novation</u>. By its execution of this Amendment, each of the parties hereto acknowledges and agrees that the terms of this Amendment do not constitute a novation, but, rather, a supplement of the terms of a pre-existing indebtedness and related agreement, as evidenced by the Credit Agreement.

[*Signature Pages Follow*]

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&nbsp;&nbsp;&nbsp;&nbsp;**IN WITNESS WHEREOF**, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.

**NEUTRON HOLDINGS, INC.**,

as the Borrower

&nbsp;&nbsp;&nbsp;&nbsp;By: <u>/s/ Ann Gugino</u><br> Name: Ann Gugino<br>Title: Chief Financial Officer

[*Signature Page to Third Amendment to Credit Agreement*]

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**DIAMETER FINANCE ADMINISTRATION LLC**, as Administrative Agent

By: <u>/s/ Michael Cohn</u> 

Name: Michael Cohn

Title: General Counsel**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

[*Signature Page to Third Amendment to Credit Agreement*]

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**DLF MASTER INVESTMENTS I LLC,**

as a Lender

By: DLF I LLC, its sole member

By: Diameter Principal Finance Partnership LP,

its special member

By: <u>/s/ Michael Cohn</u><br> Name: Michael Cohn<br>Title: General Counsel

[*Signature Page to Third Amendment to Credit Agreement*]

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**APOLLO DEBT SOLUTIONS BDC**, as a Lender

By: Apollo Capital Credit Adviser, LLC, its investment adviser

&nbsp;&nbsp;&nbsp;&nbsp;By: <u>/s/ Kristin Hester</u><br> Name: Kristin Hester<br>Title: Vice President

**APOLLO DIVERSIFIED CREDIT FUND**, as a Lender

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

By: Apollo Capital Credit Adviser, LLC, its investment manager

&nbsp;&nbsp;&nbsp;&nbsp;By: <u>/s/ Kristin Hester</u><br> Name: Kristin Hester<br>Title: Vice President

**ADL CLO 1 LLC**, as a Lender

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

By: Apollo Debt Solutions BDC, its designated manager

By: Apollo Credit Management, LLC, its investment adviser

&nbsp;&nbsp;&nbsp;&nbsp;By: <u>/s/ Kristin Hester</u><br> Name: Kristin Hester<br>Title: Vice President

**ADL CLO 2 LLC**, as a Lender

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

By: Apollo Debt Solutions BDC, its designated manager

By: Apollo Credit Management, LLC, its investment adviser

By: <u>/s/ Kristin Hester</u><br> Name: Kristin Hester<br>Title: Vice President

[*Signature Page to Third Amendment to Credit Agreement*]

## Exhibit 10.13

**Exhibit 10.13**

**GUARANTY**

**THIS GUARANTY** (as amended, amended and restated, supplemented or otherwise modified from time to time, this "<u>Agreement</u>") is made as of October 5, 2023 by Uber Technologies, Inc. (the "<u>Uber Guarantor</u>") to, in favor of and for the benefit of Alter Domus (US) LLC, in its capacity as initial administrative agent for the Lenders (in such capacity, together with any successors and assigns, the "<u>Administrative Agent</u>") and Diameter Finance Administration LLC ("<u>Diameter</u>"), in its capacity as collateral agent for the Lenders (in such capacity, together with any successors and assigns, the "<u>Collateral Agent</u>" and, together with the Administrative Agent, collectively, "<u>Agent</u>").

**RECITALS**:

**WHEREAS**, Neutron Holdings, Inc. (the "<u>Borrower</u>"), the lenders under the Credit Agreement (collectively, the "<u>Lenders</u>"), the Administrative Agent and the Collateral Agent are parties to that certain Credit Agreement dated as of October 5, 2023 (as amended, amended and restated, supplemented, refinanced, replaced or otherwise modified from time to time, the "<u>Credit Agreement</u>");

**WHEREAS**, the Uber Guarantor directly or indirectly owns certain equity interests in the Borrower;

**WHEREAS**, the Uber Guarantor has directly benefited and will continue to directly benefit from the incurrence by the Loan Parties of the Term Loans and other Obligations;

**NOW, THEREFORE**, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Uber Guarantor hereby agrees as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Defined Terms</u>. Capitalized terms used but not defined herein have the meanings assigned to them in the Credit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Guaranty</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject in all respects to the terms, conditions and limitations set forth in this Agreement, the Uber Guarantor hereby irrevocably guarantees to the Agent, for the benefit of the Lenders, the full and prompt payment by the Borrower, when due (whether at stated maturity, by acceleration or otherwise) of the Obligations (the "<u>Guaranteed Obligations</u>"). This Agreement is a guaranty of payment and not of collection only. Agent shall not be required to exhaust any right or remedy or take any action against the Borrower or any other person or entity. Nothing except cash payment in full of the Guaranteed Obligations shall release the Uber Guarantor from liability under this Agreement; <u>provided</u>, however, that the maximum amount payable by the Uber Guarantor under this Agreement shall not exceed $125,000,000 in the aggregate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Uber Guarantor is not, and shall not be deemed to be, a "Guarantor" or a "Loan Party" under the Credit Agreement. The Uber Guarantor is not, and shall not be deemed to be, subject to or required to comply with any covenant or obligation set forth in the Credit

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Agreement or in any other Loan Document (except for this Agreement) and there shall be no Default or Event of Default under the Credit Agreement for a failure of the Uber Guarantor, or of the failure of the Borrower to cause the Uber Guarantor, to comply with the terms of the Credit Agreement (other than this Agreement), including those terms applicable to a "Guarantor" or a "Loan Party".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Waivers</u>. The Uber Guarantor hereby waives diligence, presentment, protest, marshaling, demand for payment, notice of dishonor, notice of default and notice of nonpayment to or upon the Borrower or any other Loan Party with respect to the Obligations. The obligations of the Uber Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including, without limitation, any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any setoff, counterclaim, deduction, diminution, abatement, suspension, reduction, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of any of the Obligations. Without limiting the generality of the foregoing, except as set forth in this Agreement, the obligations of the Uber Guarantor hereunder shall not be released, discharged, impaired or otherwise affected by any circumstance or condition whatsoever (whether or not the Borrower, any other Loan Party, the Uber Guarantor, the Agent, or any Lender has knowledge thereof) which may or might in any manner or to any extent vary the risk of the Uber Guarantor or otherwise operate as a release or discharge of the Uber Guarantor as a matter of law or equity, including, without limitation (but other than, in each case, the payment in full of the Obligations (other than any indemnification or other contingent obligations for which no claim has been made)):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any amendment, modification, addition, deletion or supplement to or other change to any of the terms of the Guaranteed Obligations or any provisions of the Loan Documents, or any assignment or transfer of any thereof, or any furnishing, acceptance, surrender, substitution, modification or release of any security for, or guaranty of, any of the Guaranteed Obligations or the Obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any waiver of the payment, performance or observance of any of the obligations, conditions, covenants or agreements contained in the Loan Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;any extension of the time for payment of the principal of or premium (if any) or interest on any of the Obligations, or of the time for performance of any other obligations, covenants or agreements under or arising out of the Loan Documents or the extension or the renewal thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;to the extent permitted by applicable law, any voluntary or involuntary bankruptcy, insolvency, reorganization, moratorium, arrangement, adjustment, readjustment, composition, assignment for the benefit of creditors, receivership, conservatorship, custodianship, liquidation, marshaling of assets and liabilities or similar proceedings with respect to the Borrower, any other Loan Party or the Uber Guarantor or any other Person or any of their respective properties or creditors, or any action taken by any Agent or receiver or by any court in any such proceeding (including, without limitation, any automatic stay incident to any such proceeding);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;any limitation, invalidity, irregularity or unenforceability, in whole or in part, limiting the liability or obligation of the Borrower or any other Loan Party in respect of the Loan Documents or any security therefor or guarantee thereof or the Agent's or the Lenders' recourse to any such security or limiting the Agent's or the Lenders' right to a deficiency judgment against the Borrower, any other Loan Party, the Uber Guarantor or any other Person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;any other act, omission, occurrence, circumstance, happening or event whatsoever, whether similar or dissimilar to the foregoing, whether foreseen or unforeseen, and any other circumstance which might otherwise constitute a legal or equitable defense, release or discharge (including the release or discharge of the liabilities of a guarantor or surety or which might otherwise limit recourse against the Borrower, any other Loan Party, the Uber Guarantor or any other Person, whether or not the Borrower, any other Loan Party, the Uber Guarantor, the Agent or the Lenders have notice or knowledge of the foregoing).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Subrogation</u>. To the extent that the Uber Guarantor shall have made any payments of Guaranteed Obligations under this Agreement, until the Obligations (other than any indemnification or other contingent obligations which no claim has been made) have been paid in full, the Uber Guarantor hereby agrees not to exercise any right against the Borrower or any other Loan Party which it may acquire by subrogation with respect to any such Guaranteed Obligations. Notwithstanding anything to the contrary contained herein, nothing herein shall prevent the Loan Parties from making payments or other transfers to the Uber Guarantor to the extent permitted under the Loan Documents.

If any amount is paid to the Uber Guarantor in violation of the foregoing limitation, then such amount shall be held in trust for the benefit of the Agent and the Lenders and paid to the Agent for the payment to the Lenders pursuant to the terms of the Loan Documents to reduce the amount of the applicable Obligations, whether matured or unmatured. This provision will inure to the benefit of and will be enforceable by the Agent, the Lenders, each of the Loan Parties and any other Persons liable on the Obligations, and their successors and assigns, including any Agent in bankruptcy or debtor-in-possession.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Continuity of Obligations; Termination; Bankruptcy or Insolvency</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement is a continuing and irrevocable guaranty of payment of all Guaranteed Obligations now or hereafter existing and shall remain in full force and effect until the Obligations (other than any indemnification or other contingent obligations which no claim has been made) have been paid in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall terminate and be of no further force and effect upon the earliest to occur of (i) the payment in full of all of the Obligations (other than any indemnification or other contingent obligations which no claim has been made) or (ii) written notice to the Agent of termination of this Agreement by the Uber Guarantor or the Borrower at any time following (A) the closing of an underwritten public offering or direct listing of the Borrower's capital securities pursuant to an effective registration statement under the Securities Act of 1933, as amended, on the New York Stock Exchange, the Nasdaq Stock Market, or another exchange or marketplace or (B) the consummation of a merger or consolidation with a

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special purpose acquisition corporation or other entity, resulting in the capital stock of the combined company being listed on the New York Stock Exchange, the Nasdaq Stock Market, or another exchange or marketplace. For the avoidance of doubt, (x) no such termination pursuant to the preceding clause (ii) shall relieve the Uber Guarantor of any obligation under this Agreement arising prior to such termination and (y) no termination shall occur as a result of the preceding clause (ii) until the payment in full of all of the Obligations. Upon termination of this Agreement, Agent shall execute and deliver any document at the reasonable request of the Uber Guarantor to evidence such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Obligations is rescinded or must otherwise be returned by the Agent or the Lenders on the insolvency, bankruptcy or reorganization of the Borrower or any other Loan Party or otherwise, all as though the payment had not been made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Waiver</u>. No delay or omission on the part of the Agent or any of the Lenders in exercising any rights hereunder shall operate as a waiver of such rights or any other rights, and no waiver of any right on any one occasion shall result in a waiver of such right on any future occasion or of any other rights; nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Subsequent Guaranties</u>. No subsequent guaranty by the Uber Guarantor or any other Person of the Guaranteed Obligations shall be deemed to be in lieu of or to supersede this Agreement, unless otherwise expressly provided therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Fraudulent Conveyance</u>. Notwithstanding any provision of this Agreement to the contrary, it is intended that neither this Agreement nor the guaranty of payment of Guaranteed Obligations provided for herein constitute a Fraudulent Conveyance (as defined below). Consequently, the Uber Guarantor agrees that if this Agreement would, but for the application of this sentence, constitute a Fraudulent Conveyance, this Agreement (and the guaranty of payment of Guaranteed Obligations provided for herein) shall be valid and enforceable only to the maximum extent that would not cause this Agreement (and the guaranty of payment of Guaranteed Obligations provided for herein) to constitute a Fraudulent Conveyance, and this Agreement shall automatically be deemed to have been amended accordingly at all relevant times. For purposes herein, the term "<u>Fraudulent Conveyance</u>" means a fraudulent conveyance under Section 548 of the United States Bankruptcy Code or a fraudulent conveyance or fraudulent transfer under the provisions of any applicable fraudulent conveyance or fraudulent transfer law or similar law of any state, nation or other governmental unit, as in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties</u>. The Uber Guarantor represents and warrants that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;it (i) is duly formed, validly existing and, as applicable, in good standing under the Laws of the jurisdiction of its formation and (ii) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to execute, deliver and perform its obligations under this Agreement;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the execution, delivery and performance by the Uber Guarantor of this Agreement (i) have been duly authorized by all necessary organizational action, and (ii) do not and will not (A) contravene the terms of its organizational documents; (B) conflict in any respect with or result in any material breach or contravention of (1) any contractual obligation to which it is a party or affecting it or its properties or (2) any order, injunction, writ or decree of any governmental authority or any arbitral award to which it or its property is subject; or (C) violate any law applicable to it or its property, except, in the case of clauses (ii)(B) and (ii)(C), as could not reasonably be expected to result in a material adverse effect on the business, property, financial condition or results of operation of the Uber Guarantor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;no approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any governmental authority or any other Person is necessary or required in connection with (i) the execution, delivery or performance by the Uber Guarantor of this Agreement or (ii) the exercise by the Agent (on behalf of the Lenders) of their rights hereunder except for authorizations, approvals, actions, notices and filings which have been duly obtained, given or made and are in full force and effect or such approvals, consents, exemptions, authorizations, actions, notices or filings, the failure of which to obtain or make could not reasonably be expected to result in a material adverse effect on the business, property, financial condition or results of operation of the Uber Guarantor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;this Agreement when delivered hereunder, will have been, duly executed and delivered by the Uber Guarantor and constitutes a legal, valid and binding obligation of the Uber Guarantor, enforceable against the Uber Guarantor in accordance with its terms, subject to the effect of any applicable bankruptcy or insolvency laws and other laws affecting creditors' rights generally, concepts of reasonableness and general equitable principles; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;by virtue of the Uber Guarantor's relationship with the Loan Parties, the execution, delivery and performance of this Agreement is for the direct benefit of the Uber Guarantor and the Uber Guarantor has received adequate consideration for this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;<u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of New York (including any claims sounding in contract or tort law arising out of the subject matter hereof and any determination with respect to post-judgment interest).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Uber Guarantor agrees that all judicial proceedings arising in or under or relating to this Agreement may be brought in any state or federal court located in the State of New York located in the City of New York, Borough of Manhattan, or of the United States sitting in the Southern District of New York. By execution and delivery of this Agreement, the Uber Guarantor generally and unconditionally: (a) consents to exclusive personal jurisdiction in State of New York located in the City of New York, Borough of Manhattan or of the United States sitting in the Southern District of New York; (b) waives any objection as to jurisdiction or venue in State of New York located in the City of New York, Borough of Manhattan, or of the United States sitting in the Southern District of New York; (c) agrees not to assert any defense

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based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement or the other Loan Documents following the exhaustion of all rights with respects to appeals relating thereto. Service of process on any party hereto in any action arising out of or relating to this Agreement shall be effective if given in accordance with the requirements for notice set forth in Section 10(g), and shall be deemed effective and received as set forth in Section 10(g). Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall inure to the benefit of and be binding on the Uber Guarantor and its permitted assigns (if any) and the Agent and the Lenders and their respective successors and assigns; <u>provided</u> that no assignment by any Agent or the Uber Guarantor shall be permitted without the prior written consent of the other parties hereto (other than an assignment by any Agent of its obligations to Diameter or an Affiliate of Diameter, which assignment shall not require the consent of any other party hereto). No provisions of this Agreement are intended, nor will be interpreted, to provide or create any third-party beneficiary rights or any other rights of any kind in any Person other than Agent, Lenders and the Uber Guarantor unless specifically provided otherwise herein, and, except as otherwise so provided, all provisions of this Agreement will be personal and solely among Agent, Lenders and the Uber Guarantor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement and the other Loan Documents constitute the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and thereof, and supersede and replace in their entirety any prior proposals, term sheets, non-disclosure or confidentiality agreements, letters, negotiations or other documents or agreements, whether written or oral, with respect to the subject matter hereof or thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;EACH OF THE UBER GUARANTOR, AGENT AND LENDERS, TO THE EXTENT PERMITTED BY LAW, SPECIFICALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, "CLAIMS") ASSERTED BY THE UBER GUARANTOR AGAINST AGENT, LENDERS OR THEIR RESPECTIVE ASSIGNEES OR BY AGENT, LENDERS OR THEIR RESPECTIVE ASSIGNEES AGAINST THE UBER GUARANTOR IN CONNECTION WITH OR RELATING TO, THIS AGREEMENT, THE OTHER LOAN DOCUMENTS AND ANY OTHER TRANSACTION CONTEMPLATED HEREBY AND THEREBY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may not be modified or amended except in writing signed by all parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Notices and other communications to each party provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed or sent by facsimile to the address set forth below or such other address provided from time to time by such party.

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If to the Uber Guarantor:

Uber Technologies, Inc.

1515 3rd Street

San Francisco, CA 94158

Attn: Treasurer

[\*\*\*]

If to the Agent:

Diameter Finance Administration LLC

55 Hudson Yards, Suite 29B

New York, NY 10001

Attention: Shailini Rao and Ben Pasternack

E-mail: [\*\*\*] and [\*\*\*]

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

Milbank LLP

55 Hudson Yards

New York, New York 10001

Attention: Albert Pisa and Maya Grant

E-mail: [\*\*\*] and [\*\*\*]

Notices and other communications hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Agent. The parties hereunder may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; *provided* that approval of such procedures may be limited to particular notices or communications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under such law, such provision shall be ineffective only to the extent and duration of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement and any amendments, waivers, consents or supplements hereto may be executed in any number of counterparts, and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement by telecopy, pdf or other electronic transmission shall be as effective as delivery of a manually executed counterpart of this Agreement. The words "execution," "execute", "signed," "signature," and words of like import in or related to any document to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include electronic signatures, the electronic

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matching of assignment terms and contract formations on electronic platforms approved by the Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;In the performance of its obligations hereunder, the Agent shall have all of the rights, benefits, protections, indemnities and immunities afforded to it pursuant to the Loan Documents.

[*Signatures begin on next page.*]

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **UBER TECHNOLOGIES**, **INC.**, <br>as Uber Guarantor | **UBER TECHNOLOGIES**, **INC.**, <br>as Uber Guarantor |
| By: | /s/ Dara Khosrowshahi |
| Name: | Dara Khosrowshahi |
| Title: | Chief Executive Officer |

---

[*Signature Page to Guaranty*]

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---

| | |
|:---|:---|
| **ACKNOWLEDGED AND AGREED TO BY**: | **ACKNOWLEDGED AND AGREED TO BY**: |
| **ALTER DOMUS (US) LLC**,<br>as Initial Administrative Agent | **ALTER DOMUS (US) LLC**,<br>as Initial Administrative Agent |
| Signature: | /s/ Pinju Chiu |
| Name: | Pinju Chiu |
| Title: | Associate Counsel |

---

[*Signature Page to Guaranty*]

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---

| | |
|:---|:---|
| **ACKNOWLEDGED AND AGREED TO BY**: | **ACKNOWLEDGED AND AGREED TO BY**: |
| **DIAMETER FINANCE ADMINISTRATION LLC**,<br>as Collateral Agent | **DIAMETER FINANCE ADMINISTRATION LLC**,<br>as Collateral Agent |
| By: Diameter Capital Partners LP, its sole member | By: Diameter Capital Partners LP, its sole member |
| Signature: | /s/ Shailini Rao |
| Name: | Shailini Rao |
| Title: | Co-Chief Operating Officer & General Counsel |

---

[*Signature Page to Guaranty*]

## Exhibit 10.14

**Exhibit 10.14**

**CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN REDACTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) INFORMATION THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. [\*\*\*] INDICATES THAT INFORMATION HAS BEEN REDACTED.**

**<u>RESTATED LICENSE AND INTEGRATION AGREEMENT</u>**

This Restated License and Integration Agreement (the "**Restated Agreement**") is entered into as of September 15th, 2025 (the "**Restated Effective Date**"), by and between Uber Technologies, Inc., a Delaware corporation with offices at 1725 3rd Street San Francisco, CA 94158 ("**UTI**"), with respect to the U.S. market, UBER B.V., a company having its principal office at Burgerweeshuispad 301, 1076 HR Amsterdam ("**B.V.**") with respect to EMEA and MENA markets, and Uber International Technologies Corporation ("**UITC**") with respect to Canada, [APAC and LATAM] markets]., (wherein the term "**Uber**" shall refer to UTI, BV, and/or UITC., depending on the context) on the one hand, and Neutron Holdings, Inc., DBA "Lime", a Delaware corporation having its registered offices at 85 2nd Street, Suite 300, San Francisco, CA 94105 ("**Lime**"), and **Lime Electric Ireland Limited**, a private limited company established in Ireland, with its head office situated at South Bank House, Barrow Street, Dublin 4 ("**Lime Ireland**") with respect to the Payment Terms and Data Processing Agreement, on the other hand. Each of Lime and Uber may be referred to herein as a "**Party**" and collectively as the "**Parties**."

**RECITALS**

**WHEREAS**, Lime and Uber initially entered into a License and Integration Agreement with an Effective Date of March 10th, 2018 (the "Effective Date") to collaborate in connection with the integration of certain functionality of the Lime Platform into the Uber Application to enable Uber users to request Lime E-Scooters through the Uber Application (the "Agreement");

**WHEREAS**, the Agreement has been amended several times to date, the Parties now wish to consolidate the terms of the Agreement and the intervening amendments to reflect the Parties mutual understanding in this Restated Agreement; and

**WHEREAS**, upon the final execution of this Restated Agreement, the Agreement shall be expressly terminated and replaced by the Restated Agreement with an effective termination date coextensive with the Restated Effective Date, as defined herein, provided however, for the avoidance of doubt, that the Local Participation Agreement dated as of November 1, 2024 by and among Uber B.V., Uber Japan Co. Ltd., and Lime KK shall remain in effect with respect hereto.

**NOW, THEREFORE**, the Parties, in consideration of the mutual promises set forth herein and intending to be legally bound, hereby agree as follows:

**AGREEMENT**

1.&nbsp;&nbsp;&nbsp;&nbsp;**Definitions**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;"**Account Data**" means the following verified elements of Uber Data provided to and used by Lime to create an account for a specific Uber user: Phone Number, First Name, Last Name, and Email.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;"**Active Market**" means any City in which the Integrated Product is being made available to Eligible Users. Active Market shall include New Markets once Uber has launched the Integrated Product in such New Market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;"**Active Market Requirements**" has the meaning set forth in Section 2.1(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally Left Blank.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5&nbsp;&nbsp;&nbsp;&nbsp;"**Affiliate**" means, with respect to any entity, any other entity that, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such entity, and the term "control" (including the terms "controlled by" and "under common control with") means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such entity, whether through ownership of more than 50% of voting securities or more than 50% of voting power of the board of directors, by contract or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6&nbsp;&nbsp;&nbsp;&nbsp;"**Bad Debt**" means the sum of all uncollected Charges, whether specific to a particular user or in the aggregate for all Integrated Product Bookings. Lime shall be responsible for all Bad Debt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally Left Blank.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally Left Blank.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9&nbsp;&nbsp;&nbsp;&nbsp;"**Booking Price**" means for any Qualifying Trip (including any Integrated Product Booking) the gross price (less sales taxes, VAT, excise taxes, gross receipts taxes, privilege taxes, transaction taxes and property taxes imposed by any governmental authority on the Qualifying Trip and paid by Lime) (without reduction for, any applicable promotions or discounts), which may vary depending on market, timing, demand, location and other factors, at which Lime E-Scooters are made available to Eligible Users through the Integrated Product during the Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10&nbsp;&nbsp;&nbsp;&nbsp;"**Change of Control**" means (i) the consummation of a reorganization, merger or consolidation, or sale or other disposition of substantially all of the assets of a Party, or (ii) the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1933, as amended) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under such Act) of more than fifty percent (50%) of either (A) the then-outstanding shares of common stock of such Party; or (B) the combined voting power of the then-outstanding voting securities of such Party entitled to vote generally in the election of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11&nbsp;&nbsp;&nbsp;&nbsp;"**Charge**" means any monetary payment required of, or refund offered to, an Eligible User for E-Scooter rental through the Integrated Product.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12&nbsp;&nbsp;&nbsp;&nbsp;"**City**" means a (1) city or other municipality or (2) administrative area (such as a college or university campus) which, in the case of (2), has independent regulatory authority over dockless E- Scooter services within its boundaries and is not

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bound by the regulatory authority regarding dockless E- Scooter services of the city or municipality in which such administrative area is contained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally Left Blank**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14&nbsp;&nbsp;&nbsp;&nbsp;**"E-Scooter**" means (a) a·motorized scooter as defined by California Vehicle Code ("CVC") §407.5 that is powered.by electrical power, and (b) a low speed pedal assisted electric bicycle as defined by CVC §312.5 that is dockless. "E'-Scooters" expressly excludes all other vehicles and modes of transportation (including, without limitation, non-electrical powered scooters, motorcycles, motor-driven cycles as defined in CVC §405; motorized bicycles or mopeds as defined in CVC §406). This-definition and such express exclusions will be considered updated to include Future Lime Form Factor Offerings under similarly specific definitions (e.g., referencing CVC code, defining features, docked or dockless, etc.) once Lime provides notice to Uber of any such Future Lime Form Factor Offering Pilot Complete.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.15&nbsp;&nbsp;&nbsp;&nbsp;"**Eligible Users**" means any verified user who has an account with Uber and is in good standing with Uber.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.16&nbsp;&nbsp;&nbsp;&nbsp;"**Europe**" means Albania, Andorra, Armenia, Austria, Azerbaijan, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, Ireland, Italy, Kazakhstan, Kosovo, Latvia, Liechtenstein, Lithuania, Luxembourg, Macedonia (FYROM), Malta, Moldova, Monaco, Montenegro, Netherlands, Norway, Poland, Portugal, Romania, Russia, San Marino, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, Ukraine, United Kingdom, Vatican City (Holy See), and their territories and protectorates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.17&nbsp;&nbsp;&nbsp;&nbsp;"**Exclusive Integrated Product Users**" means [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.18&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally Left Blank**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.19&nbsp;&nbsp;&nbsp;&nbsp;"**Gross Rental Revenue**" means the gross price from Integrated Product Bookings plus sales taxes, VAT, excise taxes, gross receipts taxes, privilege taxes, transaction taxes and property taxes imposed by any governmental authority on the Integrated Product Booking to be paid by Lime, less only (i) any trip-based promotions and discounts agreed upon between the Parties and (ii) Payment Processing Costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20&nbsp;&nbsp;&nbsp;&nbsp;"**Integrated Product**" means the product or service resulting from the integration of certain elements of the Lime Platform that allows Eligible Users to book a Lime E-Scooter through the Uber Application as further described in **Exhibit A** attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.21&nbsp;&nbsp;&nbsp;&nbsp;"**Integrated Product Booking**" means a booking of a Lime E-Scooter by an Eligible User through the Integrated Product.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.22&nbsp;&nbsp;&nbsp;&nbsp;"**Intellectual Property Rights**" means all intellectual property rights throughout the world under statute, common law or equity, including: (i) copyrights, "moral rights", trade secret rights, patents, and any other intellectual property and proprietary rights (excluding trademark rights); (ii) any application, right to apply, or registration for any of the foregoing; (iii) any renewals, extensions and restorations of the foregoing; and (iv) any other rights analogous to any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.23&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally Left Blank.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.24&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally Left Blank.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25&nbsp;&nbsp;&nbsp;&nbsp;"**Lime Data**" means [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.26&nbsp;&nbsp;&nbsp;&nbsp;"**Lime E-Scooters**" means any E-Scooter made available on the Lime Platform for Integrated Product Booking in connection with this Restated Agreement, including JUMP E-Scooters made available by Lime on the Lime Platform for Integrated Product Booking; and notwithstanding anything to the contrary, including any Future Lime Form Factor Offerings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.27&nbsp;&nbsp;&nbsp;&nbsp;"**Lime Marks**" shall mean Lime's trademarks, service marks, trade names, logos, slogans and other identifying symbols and indicia.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.28&nbsp;&nbsp;&nbsp;&nbsp;"**Lime Materials**" means the Lime proprietary Technology (including APIs) (excluding the Lime Marks) set forth on **Exhibit B** or that is disclosed or otherwise made available to Uber by Lime or its Affiliates in connection with development or use of the Integrated Product or otherwise during the Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.29&nbsp;&nbsp;&nbsp;&nbsp;"**Lime Platform**" means Lime's E-Scooter platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.30&nbsp;&nbsp;&nbsp;&nbsp;"**Lime Trip Data**" means the following data: [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.31&nbsp;&nbsp;&nbsp;&nbsp;"**Launch Plan**" has the meaning set forth in Section 2.1(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.32&nbsp;&nbsp;&nbsp;&nbsp;"**New Market**" has the meaning set forth in Section 2.1(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.33&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally Left Blank.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.34&nbsp;&nbsp;&nbsp;&nbsp;"**Payment Processing Costs**" means the payment processing costs actually charged by a Payment Provider for all Charges associated with all Integrated Product Bookings and shall include but not be limited to fees for Tokenization Costs, gateway processing, acquiring, interchange, and foreign exchange in the event of currency conversion to the extent actually charged by a Payment Provider.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.35&nbsp;&nbsp;&nbsp;&nbsp;"**Payment Provider**" means [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.36&nbsp;&nbsp;&nbsp;&nbsp;"**Personal Data**" means any information obtained in connection with this Restated Agreement (i) relating to an identified or identifiable natural person; (ii) that can reasonably be used to identify or authenticate an individual, including but not limited to name, contact information, precise location information, persistent identifiers,

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government-issued identification numbers, passwords, or PINs, financial account numbers and other personal identifiers; and (iii) any information that may otherwise be considered "personal data" or "personal information" under the applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.37&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally Left Blank**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38&nbsp;&nbsp;&nbsp;&nbsp;"**Qualifying Trip**" means any trip taken on a Lime E-Scooter by an Eligible User that is (a) [\*\*\*] ("**Integrated Product Trips**"), (b) [\*\*\*] ("**Dual App Trips**") or (c) [\*\*\*] ("**Uber Acquired Lime User Trips**"), and in any case of (a), (b) and (c), excluding any trip for which a chargeback occurred or a refund was given for more than 50% of the trip price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.39&nbsp;&nbsp;&nbsp;&nbsp;"**Regulatory Approvals**" means all governmental permits, consents, licenses, and authorizations expressly required or reasonably expected to be expressly required under applicable law for Lime's E-Scooter operations, the Lime Platform, and the Lime E-Scooters (including, without limitation, any permits or authorities relating to E-Scooters for a particular City).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally Left Blank.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.41&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally Left Blank.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.42&nbsp;&nbsp;&nbsp;&nbsp;"**Technical and Design Requirements**" has the meaning set forth in **Exhibit A**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.43&nbsp;&nbsp;&nbsp;&nbsp;"**Technology**" means, processes, products, designs, design data, formulas, developments, software, application programming interfaces (APIs), technical documentation, materials, technology, and the like.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.44&nbsp;&nbsp;&nbsp;&nbsp;"**Territory**" means a territory of Active Markets and New Markets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.45&nbsp;&nbsp;&nbsp;&nbsp;"**Token**" means a limited use instrument representing payment information that can be used to process a Charge through supporting industry-standard payment processors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.46&nbsp;&nbsp;&nbsp;&nbsp;"**Token Request**" means a call by Lime to the applicable Uber API to generate a Token.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.47&nbsp;&nbsp;&nbsp;&nbsp;"**Tokenization Costs**" means the tokenization costs charged by the third party provider for requesting Tokens for all Charges associated with all Integrated Product Bookings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.48&nbsp;&nbsp;&nbsp;&nbsp;"**Uber API**" means (a) the certain application programming interface and endpoints made available by Uber to Lime pursuant to this Restated Agreement and (b) API-related documentation, software, and materials provided or made available to Lime by Uber under this Restated Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.49&nbsp;&nbsp;&nbsp;&nbsp;"**Uber Application**" or "**Uber App**" means the Uber rideshare mobile application.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50&nbsp;&nbsp;&nbsp;&nbsp;"**Uber Competitive Services**" means [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.51&nbsp;&nbsp;&nbsp;&nbsp;"**Uber Data**" means [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.52&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally Left Blank**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.53&nbsp;&nbsp;&nbsp;&nbsp;"**Uber Marks**" shall mean Uber's trademarks, service marks, trade names, logos, slogans and other identifying symbols and indicia.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.54&nbsp;&nbsp;&nbsp;&nbsp;"**Uber Materials**" means the Uber proprietary Technology (excluding the Uber Marks) that is disclosed or otherwise made available to Lime by Uber or its Affiliates in connection with development or use of the Integrated Product or otherwise during the Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.55&nbsp;&nbsp;&nbsp;&nbsp;"**Uber Trip Data**" means the following data: [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.56&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally Left Blank**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.57&nbsp;&nbsp;&nbsp;&nbsp;"**Working Scooter**" means any Lime E-Scooter that is either (a) currently rented or (b) available for rent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.58&nbsp;&nbsp;&nbsp;&nbsp;"**Lime Competitive Services"** means the business of owning and operating a fleet of E-Scooters for the purpose of providing consumers with short-term access to such E-Scooters for personal transportation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.59&nbsp;&nbsp;&nbsp;&nbsp;"**Lime Vehicle Data**" means the following real-time data of Lime E-Scooters: vehicle location data and attributes of Lime E-Scooters including, but not limited to, types, properties, features, and license plate numbers (if applicable)."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60&nbsp;&nbsp;&nbsp;&nbsp;"**Future Lime Form Factor Offerings**" means [\*\*\*]. [\*\*\*] ("Pilot"), [\*\*\*] ("Pilot Complete'').

2.&nbsp;&nbsp;&nbsp;&nbsp;**Product Integration**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;**Launch**

&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;**Integration**. The Parties will create the Integrated Product as described in **Exhibit A**, and each Party will provide support to the other Party in connection therewith as reasonably requested and as otherwise contemplated in **Exhibit 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Launch 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;The Parties agree to expand the launch of the Integrated Product in all new markets and Cities as provided in Section 2.1(b)(ii); provided that, prior to launching the Integrated Product in any New Market, Lime shall provide reasonable evidence to Uber of its compliance with applicable regulations, and

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obtaining all Regulatory Approvals and providing to Uber reasonable evidence thereof, in such New Market ("Active Market 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;[\*\*\*] ("New Markets"). [\*\*\*]:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;[\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;[\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;***[\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;[\*\*\*].

&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;**Uber Logo**. In any Active Market, the Parties agree that all Lime E-Scooters shall meet the stickering requirements attached hereto as Exhibit J "Stickering Requirements." Lime shall remove the Uber logo upon reasonable notice from Uber.

&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;**Lime E-Scooter Availability**. In any Active Market, all E-Scooters in the Active Market that are available for rental on the Lime application will also be available for rental on the Uber App through the Integrated Product. Uber will have the right to remove Lime from the Uber App in a particular Active Market if Lime (i) fails to satisfy the Active Market Requirements at any time in such Active Market and (ii) fails to remedy such failure within thirty (30) days of receipt of written notice from Uber (provided, Uber may suspend Lime from the Uber App in a particular Active Market on written notice to Lime if a City alleges in writing to either Lime or Uber that Lime does not have sufficient Regulatory Approval to operate in such City; provided, further, that Uber will promptly reinstate Lime if the issue is resolved within thirty (30) days of Lime's receipt of such written notice).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;**Availability of Integrated Product**. Notwithstanding anything to the contrary (but subject to Sections 2.1, 2.3, 3.1, 3.3, 4.6, 6.1 and 6.2), Uber will have the sole discretion over the exposure to Eligible users of the Integrated Product. For the avoidance of doubt, this right will not permit Uber to turn-off the Integration or not launch the Integration in a City, except as otherwise defined.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;**Placement within Uber App.** The location of the placement of the offering of Lime E- Scooters in the Uber App shall be at Uber's sole discretion; provided, however, Uber shall ensure that it is reasonably apparent that Lime is providing the Lime E-Scooters. To the extent Uber is not restricted by Section 5 from offering E-Scooter products or services of a company other than Lime in the Uber App, then, subject to the provisions of Section 5.3(a)(ii), the location of the placement of the Lime E-Scooter offering in the Uber App shall be in the same location as that of the other provider(s) (including, as applicable, Uber and its Affiliates).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;**Changes to Regulatory Approvals.** Lime will notify Uber within fifteen (15) days of any change to its Regulatory Approvals that affect any Active Market under this Restated Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5&nbsp;&nbsp;&nbsp;&nbsp;**Integration Updates.**

&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;Intentionally Left Blank.

&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;Any information provided by Lime to Uber through the APIs in connection with this Restated Agreement and data derived from such information will not be shared with, and will not be used to create insights or services that will be shared with, Lime competitors, nor be used to inform or otherwise support any potential relaunch of a first party E-Scooter offering by Uber or an Affiliate of Uber.

&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;Uber will build the following features on its platform for the Integrated Product: [\*\*\*].

&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;Enable feature parity: Lime will enable the following features for the Integrated Product that are currently available on Lime's app: [\*\*\*].

&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;Lime and Uber agree to evaluate additional potential product and engineering requirements on a cadence to be mutually agreed upon by the Parties.

&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;In addition to the license rights granted by Lime with regard to Lime Data under the Restated Agreement, including under Section 8, Lime will grant Uber access to Lime Vehicle Data [\*\*\*].

&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;Lime & Uber shall negotiate in good faith mutually agreed upon new strategic programs and features {"Strategic Programs") and use commercially reasonable-efforts to jointly implement such Strategic Programs.

&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;[\*\*\*] ("Implementation Decision").

&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;[\*\*\*].

&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;Lime will use commercially reasonable efforts and work in good faith to adequately staff, resource, and prioritize ongoing technical work and other work to support the Integrated Product and any improvements to it.

&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;Lime and Uber will each use commercially reasonable efforts and work in good faith to adequately staff, resource, and prioritize the technical work necessary to develop the following [\*\*\*] each as described more fully 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) [\*\*\*] (the **"Exclusivity Period"**) [\*\*\*] (the "Exclusivity Fee") [\*\*\*]:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) [\*\*\*] (a "New Lime User"). [\*\*\*] (the "Ridership Growth Fee"). [\*\*\*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) [\*\*\*] (the "Cash Back Fee").

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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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) [\*\*\*].

3.&nbsp;&nbsp;&nbsp;&nbsp;**Lime Operational Responsibilities**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;**Operation of Lime Platform**. Lime hereby represents and warrants that, in each Active Market, the Integrated Product will be treated no less favorably (including with respect to the operation, availability, quality and functionality of Lime's infrastructure, network, support, insurance, safety, customer inquiries and other operational responsibilities, as well as the operation, availability, quality and functionality of Lime E-Scooters available for Integrated Product Booking) than the manner in which Lime treats any other program, partner or party (including Lime itself) with respect to E-Scooters or in which Lime operates the Lime Platform in such Active Market. Lime will be solely responsible for providing the customer support services for users of the Integrated Product in connection with any Integrated Product Bookings and Lime E-Scooters, as well as any support reasonably requested by Uber or as otherwise reasonably contemplated in accordance with and as described in **Exhibit C** attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;**Pricing**.

&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;[\*\*\*].

&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;[\*\*\*].

&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 Left Blank.

&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;[\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;[\*\*\*] ("**Uber Discounted Trips**") [\*\*\*]:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•&nbsp;&nbsp;&nbsp;&nbsp;[\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;[\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;[\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;[\*\*\*].

&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;**Refunds**. Refunds will be initiated at Lime's request. Upon Lime's request for a refund, (i) Uber will charge the refunded amount to Lime (the "Refund Amount"), plus the refund fees listed in Exhibit K ("Refund Fees" together with the Refund Amount, the "Refund Charges")) that are payable to Uber for each refund so initiated by Lime. For all refunds initiated by Lime, Uber will refund to Lime the Service

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Fee charged on the initial user transaction. The Parties will mutually agree upon any Refund Charge reporting and payment process details.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3&nbsp;&nbsp;&nbsp;&nbsp;**Cost of Lime Platform**. For the avoidance of doubt, (i) Lime will be solely responsible for all of its costs, expenses and fees associated with respect to the Lime Platform and Lime E-Scooters, including, without limitation, with respect to the development, operation, availability, quality, maintenance, and functionality thereof, including all customer support costs and (ii) Uber will be solely responsible for all of its costs, expenses and fees associated with respect to the Uber App and Integrated Product, except as expressly provided in Section 4.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4&nbsp;&nbsp;&nbsp;&nbsp;**Regulatory Responsibility**. The Parties acknowledge and agree that Uber is merely a distributor of the Lime Platform and, as between Uber and Lime, Lime is solely responsible for complying with all applicable laws related to the Lime Platform (including, without limitation, with respect to Integrated Product Bookings (excluding the Uber Application) and Lime E-Scooters).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5&nbsp;&nbsp;&nbsp;&nbsp;**Support**. Lime shall be solely responsible for resolving customer support requests for the Lime E-Scooters and Integrated Product Bookings.

4.&nbsp;&nbsp;&nbsp;&nbsp;**Reporting, Economics and Transaction Processing**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;**Reporting**.

&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;**Intentionally Left Blank**.

&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;**Intentionally Left Blank**.

&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;**Information**. Lime shall provide Uber's internal accounting-only team with such information as is reasonably requested by Uber [\*\*\*], which information will be only used by such team for such purpose and may not be further disclosed inside or outside Uber except to Uber's independent public accountant executing a confidentiality agreement that (i) prevents the independent public accountant from sharing the information with Uber and its Affiliates and (ii) limits the independent public accountant's use of such notice solely for the purposes of performing its accounting obligations to Uber; provided, that for the avoidance of doubt, Lime shall not be required to prepare any new reporting information in response to any request by Uber's accounting team pursuant to this Section 4.1(c).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;**Payments and Costs**.

&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;**Payment Processing Costs**. At all times over the course of the Term, Lime shall be responsible for all Payment Processing Costs.

&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;**Support Costs**. Notwithstanding anything to the contrary in this Restated Agreement, Lime shall reimburse Uber at a rate of [\*\*\*] for Lime E-Scooters and Integrated Product Bookings manually forwarded to Lime ("**Support Costs**"); provided, that the Support Costs reimbursable by Lime for any calendar month during

------

the Term shall not exceed an amount equal to [\*\*\*]. To the extent Uber forwards customer support requests to Lime that are not related to Lime E-Scooters or Integrated Product Bookings (e.g., they concern issues with the Uber App or other transportation modes or providers), Uber shall reimburse Lime at a rate of [\*\*\*]. Uber shall invoice Lime quarterly for such Support Costs less any amounts due to Lime for any improperly forwarded support requests, which shall be payable within thirty (30) days after receipt. After the Switch- over Date, Uber may withhold Support Costs from Gross Rental Revenue payable to Lime under Section 4.7 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Payments Issue Escalations**. Each Party will identify one "**Relationship Manager**" to serve as the primary point of contact regarding payment issues. If the Parties cannot first resolve a payments-related dispute informally, either Party may submit a written objection that states the reasons for objecting the payment or lack thereof ("**Payment Dispute Notice**") to the Relationship Manager of the other Party. The Uber Relationship Manager and Lime Relationship Manager will meet within 30 days following the receipt of Payment Dispute Notice to attempt to resolve the issue in good faith. If there is no agreement on a resolution or a plan of action to resolve, the original disputing Party will send a notice of continued dispute. Within 30 days of notice of a continued dispute, the Parties will schedule a meeting with at least one senior executive from each Party ("**Payment Dispute Resolution Meeting**") to attempt to resolve the issue in good faith. If the Parties have not agreed upon an approach to resolve the dispute as a result of the Payment Dispute Resolution Meeting, or an action plan to do so within 90 days of receiving the original Payment Dispute Notice, then the Parties may submit the dispute to final and binding arbitration, as provided in the Restated Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;**Uber Audits of Lime**. During the Term and for no more than one (1) year after expiration or termination of this Restated Agreement, upon at least fifteen (15) days prior written request of Uber, and no more than twice in any twelve (12) month period during the Term and only once after expiration or termination of this Restated Agreement, Lime will permit an independent public accountant, selected by Uber and acceptable to Lime, which acceptance will not be unreasonably withheld, to have access during normal business hours to those records of Lime as reasonably necessary for compliance with payment processing obligations under Section 4.6, in respect of any calendar year ending not more than twelve (12) months prior to the date of such request. Such an independent public accountant shall sign Lime's standard confidentiality agreement prior to accessing Lime's books and records subject to this Section. For clarity, in the event Uber conducts an audit pursuant to Section 4.4 or 13.8(c), such audits shall not count towards the maximum number of audits set forth in this Section 4.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;**Regulatory Audit**. Upon Uber's request, Lime shall provide reasonable documentation evidencing Lime maintains all necessary Regulatory Approvals required to operate the Lime Platform in all Cities it has launched or plans to launch. Additionally, during the Term and for one (1) year thereafter, and no more than twice in any twelve (12) month period during the Term and only once after expiration or termination of this

------

Restated Agreement, Lime will permit a third party regulatory advisor, selected by Uber and acceptable to Lime, which acceptance will not be unreasonably withheld, upon fifteen (15) days advance written notice to Lime, to audit Lime for the purpose of verifying Lime's compliance with all applicable laws and regulations, including whether Lime maintains all necessary Regulatory Approvals. Such third party advisor shall sign Lime's standard confidentiality agreement prior to accessing Lime's books and records subject to this Section. Any such audit shall be conducted during regular business hours at Lime's facilities and shall not unreasonably interfere with Lime's business activities. If such third party advisor's report reveals that Lime has materially breached its obligation to obtain or maintain Regulatory Authorizations to operate the Lime Platform, then Lime shall reimburse Uber's reasonable out-of-pocket expenses for the audit. For clarity, in the event Uber conducts an audit pursuant to Section 4.3 or 13.8(c), such audits shall not count towards the maximum number of audits set forth in this Section 4.4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5&nbsp;&nbsp;&nbsp;&nbsp;**Internal Audit of Uber**. Upon Lime's request, (i) during the Term and no more than twice in any twelve (12) month period during the Term, and (ii) for no more than one (1) year after the Term (and only once in that period), Uber shall conduct an internal audit, which shall be limited to verifying the accuracy of payments made to Lime and provide Lime with the results of such audit certified by an officer of Uber. During the Term and no more than twice in any twelve month period during the Term, Lime may request an executive with knowledge of Uber's data systems to certify compliance with the restrictions set forth in Section 2.5(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6&nbsp;&nbsp;&nbsp;&nbsp;**Transaction Processing**.

&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;**Line Item Processing**. All Charges related to Integrated Product Bookings shall be itemized and have a descriptor that adequately identifies the purpose of the Charge to the Eligible User's payment method associated with its Uber account (each a "**Line Item Charge**").

&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;**Charge Origination**. Uber shall send Integrated Product Bookings to Lime through the Lime API. All Charges relating to Integrated Product Bookings that are charged to the Eligible User's payment method shall be generated solely in response to a Token Request initiated by Lime. At the time of receipt of the Integrated Product Booking by Lime and any time a Charge is to be made to an Eligible User's payment method, Lime will submit a Token Request to the applicable Uber API or use the original Token assigned to the initial Charge in the case of Charges for refunds, chargebacks or adjustments. Upon receipt of the Token, Lime shall attempt to charge the Eligible User's payment method using the Token. Lime shall only request a Token when there is a request for an Integrated Product Booking or Charge. Uber shall not unreasonably deny a Token Request, and at its reasonable discretion, will enforce anomaly detection checks to approve or deny Token Requests.

&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;**Transaction Results**. The Parties shall have a process and functionality in place to report the status of all Charges upon decisioning, including but

------

not limited to whether or not the Charge was successful or whether it failed, such that information including refunds, chargebacks, and Bad Debt events are available to Lime.

&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;**Blocking Usage**. Either Uber or Lime, in their individual and sole discretion, may cease to make available the Integrated Product to, and cancel any existing upcoming Integrated Product Bookings subject to associated cancellation fees for, any Eligible User for whom collection of a Charge was unsuccessful or resulted in a chargeback. Neither Party shall be required to obtain the other Party's approval prior to blocking the Integrated Product from usage by the Eligible User at issue, however, the blocking Party shall provide the reason for blocking if requested by the non-blocking Party. The Parties agree to reasonably collaborate to maintain a high quality and consistent Integrated Product user experience.

&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;**Information and Controls**. The Parties agree to collaborate and work together in good faith to mutually establish a reasonable set of information and controls satisfactory to Lime to (i) detect and prevent identity and payment fraud and trust and safety violations, and (ii) block Eligible Users with uncollected payments from the Integrated Product.

&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;**Chargebacks**. Lime shall be responsible for all chargebacks for Integrated Product Bookings, and on and after the Switch-over Date chargebacks will be withheld from amounts otherwise payable to Lime. Lime shall be responsible for all chargebacks for Integrated Product Bookings, and on and after the Switch-over Date chargebacks will be withheld from amounts otherwise payable to Lime.

&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;**Taxes**. Lime shall be responsible for charging and remitting to the appropriate tax authorities, or other governmental authorities, any applicable taxes and fees including but not limited to sales taxes, VAT, excise taxes, gross receipts taxes, privilege taxes, transaction taxes and property taxes with respect to the Integrated Product Bookings and any services provided by Lime under this Restated Agreement, except that Uber shall be responsible for remitting US transaction taxes to the appropriate tax authorities under applicable marketplace facilitator rules upon a mutually agreed-upon start date based on both Parties completion of the technical work necessary to implement this change; such mutual agreement will be confirmed in writing (email suffices). Uber will collect all such taxes and, except as provided with respect to US transaction taxes after such mutually agreed-upon start date, remit such collections to Lime for remittance of all relevant taxes to the appropriate tax authorities or other governmental authorities. Upon reasonable request by Uber, Lime shall provide documentation supporting that such taxes to be remitted by Lime have been paid in accordance with applicable 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;(h)&nbsp;&nbsp;&nbsp;&nbsp;**Receipts.** Via a Lime API or alternative method agreed upon between the Parties, Lime shall, at least thirty (30) days prior to the date of the initial launch of the Integrated Product set forth in the Launch Plan, and then on an ongoing basis consistent with the receipt issuance timeliness and detailed breakdown that Uber customarily provides, provide Uber with all information necessary for Uber to render

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receipts on behalf of Lime to Eligible Users of the Integrated Product. The Parties agree to work in good faith to implement a process (via a Lime API or alternative method agreed upon between the Parties) to permit Uber, at Uber's election which would then create an obligation for Uber until Uber provides reasonable notice that it no longer elects to do so, to issue tax compliant invoices on behalf of Lime to Eligible Users of the Integrated Product; provided that prior to the implementation of such a process, Lime shall be responsible for issuing tax compliant invoices to Eligible Users of the Integrated Product. The Parties agree that Lime shall not independently email receipts for Integrated Product Bookings to Eligible Users unless otherwise mutually agreed.

&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;**Notices**. Upon receipt of any formal notice or inquiry, or other formal communication from any Payment Provider alleging any violation of any operating rules or network rules that require Uber to refrain from activity necessary to provide the Integrated Product, or Lime's failure to integrate with or abide by terms as required by any such Payment Provider, Uber will have the right to suspend exposure of the Integrated Product while the Parties work in good faith to establish a different method for processing Integrated Product payments (the "**Alternative Method**") or Lime's compliance with same, and Uber will restore exposure of the Integrated Product promptly following resolution of the situation.

&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;**Third Party Services and APIs**. Lime acknowledges that Lime's ability to receive, submit and use a Token or Token Request and provide the status of all Charges depends on Lime's use of APIs provided by Braintree, a division of PayPal, Inc. ("**PayPal**"), subject to an agreement between Lime and PayPal substantially similar to that attached hereto as **Exhibit F**, or as dictated by PayPal. Lime must maintain the ability to use such PayPal APIs directed by Uber, or other integrations as reasonably required by Uber, to support the Integrated Product.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) **Service 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) After the Switch-over Date for Active Markets and New Markets identified in Section 2.1(b):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Uber will charge Lime a Service Fee that includes [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) The Service Fee will be set on a country-by-country basis according to the table in Exhibit I "Service Fees" attached hereto. Lime will provide an affidavit representing that the data Lime submitted to establish that the [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) For future New Markets: Upon confirmation of launch timing for any New Market in a country not captured in Exhibit I, Section A: "Service Fee by Country":

&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) Lime will have 30 days to share its report of [\*\*\*] for each new country for Uber to establish the Service Fee for the integration in that country.

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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) The data will be the same aggregate cost and average ticket size data used to establish the initial Service Fee table attached as Exhibit I(A), aggregated by the same methodology over a 3-month period (or as long as Lime has been active in that market if less than a 3- month period), unless mutually agreed upon by the Parties.

&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) If Lime has not provided this complete data in 4.6(m)(ii)(B) above within 30 days, the Service Fee for this additional new country will default to an Uber-named country equivalent, as set forth in Exhibit I(B). Lime will provide updated data after 3 months, and Uber will update the Service Fee for that country accordingly.

**Limited Agent.** With respect to all U.S Integrated Product Bookings, Lime hereby appoints Uber Technologies Inc. (UTI), an Affiliate of Uber, as its limited payment collection agent for the purpose of accepting for Integrated Product Bookings, plus any applicable sales tax, VAT, or other taxes collected on Lime's behalf, payment from Eligible Users through the Uber Platform and UTI accepts such appointment. UTI will process the Booking Fee payments on Lime's behalf and the Booking Fee will be deemed to have been made to Lime when the Booking Fee are successfully processed and received by UTI as if such Booking Fee had been paid to Lime directly by an Eligible User, extinguishing the Eligible User's payment obligation to Lime (in the amount paid by the Eligible User). , via the payment processing functionality facilitated by the Uber App, and remitting the Gross Rental Revenue to Lime within fourteen (14) calendar days of the Charges being processed; and (ii) agrees that payment collected by Uber, or an Affiliate of Uber, on Lime's behalf, shall be considered the same as payment made directly to Lime. Lime agrees that if it does not receive payment from Uber or its Affiliates for any reason Lime will only have recourse against Uber or its Affiliates.

Uber and its Affiliates may from time to time request information from Lime to confirm its identity as may be necessary under any applicable compliance obligations before remitting any amounts to it and if circumstances change since Lime's initial provision of documentation for 'know your customer' purposes such that Uber is legally prohibited from remitting payments to Lime, Uber may suspend such payments and work in good faith with Lime and the relevant governmental authority to resume payments as soon as practicable. Lime agrees that Uber and its Affiliates may describe or otherwise reflect the terms of this Section, and any related portions of this Agreement, in any terms of use, receipts, disclosures, or notices that may be deemed necessary or prudent, subject to prior approval by Lime of any specific references to Lime in any such materials, which shall not be unreasonably denied. If reasonable, Uber may adjust the remittance of Gross Rental Revenue collected on Lime's behalf for Lime's failure to fulfill an Integrated Product Booking, correcting an error on an Integrated Product Booking, chargebacks, or refunds authorized by Lime, or for purpose of seeking reimbursement for fees, fines or charges incurred by Uber or its Affiliates issued by governmental authorities as a result

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of Lime's actions or Lime E-Scooters (e.g. tolls incurred by Users that a transportation authority may charge to Uber or fines a city may impose on Uber due to usage of Lime's E- Scooters, provided Uber timely notifies Lime in advance of its payment to the relevant party provides Lime a reasonable opportunity to contest the assessment and the Parties work in good faith to mitigate such future assessments) and other reasons authorized by Lime in writing. Uber and its Affiliates reserve the right to collect any amounts owed to Uber in connection with such allowed adjustments via a deduction from the remittance of Gross Rental Revenue collected on behalf of Lime; provided that, if on expiration or termination of this Restated Agreement, there remain amounts owed to Uber in connection with such allowed adjustments and there is insufficient Gross Rental Revenue anticipated in the month that the allowances were incurred, Uber may issue an invoice to Lime for such amounts and Lime will pay the amount of the invoice within thirty (30) days after receipt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7&nbsp;&nbsp;&nbsp;&nbsp;**Uber Payments BV**. With respect to any Integrated Product Bookings in the European Economic Area, Uber Payments BV, which is an affiliate of Uber, will act as the limited payment collection agent as referred to in Section 4.7, for the European Economic Area. For payments accepted by Uber Payments BV, the Payment Terms attached as Exhibit L will apply. Uber B.V. agrees to indemnify, defend, and hold harmless each Party and their respective officers, directors, employees, agents, successors and assigns from and against any and all out-of-pocket liabilities, expenses (including reasonable attorney's fees), damages, penalties, fines, social security contributions and taxes arising out of a third party claim that Uber Payments violated applicable law in its provision of Payment Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8&nbsp;&nbsp;&nbsp;&nbsp;**Uber Payments UK**. With respect to any Integrated Product Bookings in the UK, Uber Payments UK Limited, which is an Affiliate of Uber, will act as the limited payment collection agent as referred to in Section 4.7, for the United Kingdom. For payments accepted by Uber Payments UK, the UPUK Payments Terms, attached at Exhibit O, will apply. Uber B.V. agrees to indemnify, defend and hold harmless Lime Technology Limited and their respective officers, directors, employees, agents, successors and assigns from and against any and all out-of-pocket liabilities, expenses (including reasonable attorney's fees), damages, penalties, fines, social security contributions and taxes arising out of a third party claim that Uber Payments UK violated applicable law in its provision of UK Payment Services.

5.&nbsp;&nbsp;&nbsp;&nbsp;**[\*\*\*]**.

6.&nbsp;&nbsp;&nbsp;&nbsp;**Marketing and Promotion**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;**Marketing Plan**. Any branding, design, copy and user experiences related to the Integrated Product will be subject to Uber's discretion, subject to Sections 2.3 and 7.3; provided that Uber shall not use the Lime Marks without Lime's prior written approval (not to be unreasonably withheld or delayed). In connection with the Integrated

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Product, the Parties shall discuss potential promotional and marketing activities and each shall conduct such promotional and marketing materials as may be agreed in a written marketing plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;**User Communication**.

&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;For Exclusive Integrated Product Users, all marketing communications shall be sent by Uber, subject to Lime's prior approval (which shall not be unreasonably withheld or delayed). During the Term, Lime will not, and will not permit any third party to, communicate with any Exclusive Integrated Product Users (other than as strictly necessary to provide support for the applicable Integrated Product Booking).

&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;For those Eligible Users that book Lime E-Scooters using both the Integrated Product and the Lime application during the Term, either Party may send marketing communications, subject to the other Party's prior approval (which shall not be unreasonably withheld or delayed).

&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;For those Eligible Users that only book Lime E-Scooters using the Lime application but are acquired via such users' responses to a mutually agreed marketing or promotional communication that includes a mutually agreed call to action which call to action is responded to within a mutually agreed time period during the Term, all marketing communications shall be sent by Lime, subject to Uber's prior approval (which shall not be unreasonably withheld or delayed).

&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;Lime may not take any intentional action specifically to encourage any individual to directly book a Lime E-Scooter using the Lime application instead of making an Integrated Product Booking.

&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;During and after the Term, Lime and its Affiliates shall not, and shall not indirectly or directly permit a third party to, use any Uber Data or Lime Data associated with an Exclusive Integrated Product User (including Account Data or Lime Trip Data) for the purposes of advertising or promoting any Uber Competitive Services to such user.

&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;During and after the Term, subject to any applicable data privacy laws, Lime and its Affiliates shall not, directly or indirectly, transfer, sell, distribute or otherwise provide access to the Uber Data or Lime Data associated with Exclusive Integrated Product User(s) (including Account Data or Lime Trip Data) to any provider of an Uber Competitive Service. This Section shall in no way limit the other restrictions on Lime's use of Uber Data herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally Left Blank.**

7.&nbsp;&nbsp;&nbsp;&nbsp;**Intellectual Property**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;**License to Lime Materials and Lime APIs**. During the Term, Lime hereby grants to Uber and its Affiliates a worldwide non-exclusive, non-sublicensable, fully-paid, royalty-free license and right under any Intellectual Property Rights owned or

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licensable by Lime in and to the Lime Materials and the Lime Platform (other than the Lime APIs) to use, make, have made, sell, offer to sell, and import the Integrated Product for the limited purpose of enabling users to request E-Scooters through the Uber Application. Lime hereby grants to Uber, under any Intellectual Property Rights owned or licensable by Lime in and to the Lime APIs listed on **Exhibit B**, a limited, non-exclusive right to access and use the Lime APIs listed on **Exhibit B** solely in connection with the Integrated Product and in accordance with the Restated Agreement and the terms set forth in **Exhibit G**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2&nbsp;&nbsp;&nbsp;&nbsp;**License to Uber Materials and Uber APIs**. During the Term, Uber hereby grants to Lime a worldwide non-exclusive, non-sublicensable, fully-paid, royalty-free license and right under any Intellectual Property Rights owned or licensable by Uber in and to the Uber Materials to perform its obligations under this Restated Agreement. Lime will obtain a developer account via developer.uber.com prior to being eligible for access to any of Uber's APIs. Lime's access to and use of Uber APIs that may be made available by Uber in connection with this Restated Agreement, and any API-related data, materials and tools, if any, in connection with this Restated Agreement will be subject to the terms set forth in **Exhibit G**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3&nbsp;&nbsp;&nbsp;&nbsp;**License to Trademarks**.

&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 Uber Mark**. Uber hereby grants to Lime, solely during the Term, a limited, royalty-free, non-exclusive, non-transferable and non-assignable (except in connection with a permitted assignment under Section 13.8) license, without the right to sublicense, to use and display the Uber Marks, as required by Section 2.1(c), and as required or permitted by Section 6, but only if Uber, in writing, expressly approves of each proposed use and display. Lime will not otherwise use or modify the Uber Marks without Uber's prior written consent. All goodwill related to Lime's use of the Uber Marks shall inure solely to the benefit of Uber. The Uber Marks will at all times remain the exclusive property of Uber. Except as expressly set forth herein, Uber does not, and shall not be deemed to, grant Lime any license or rights under any Uber trademarks. All rights not granted herein are expressly reserved by Uber. Lime agrees that the quality of any products or services it provides in connection with the Uber Marks shall conform to the standards required by this Restated Agreement. At a minimum, the quality of the products or services shall be of the same or higher quality as products and services provided by Lime in the past. Should the quality of the goods or services offered in connection with the Uber Marks fall below such standards, Uber reserves the right to terminate the permission to use its Uber Marks if the quality is not restored within a reasonable 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;**To Lime Marks**. Lime hereby grants to Uber, solely during the Term, a limited, royalty-free, non-exclusive, non-transferable and non-assignable (except in connection with a permitted assignment under Section 13.8) license, without the right to sublicense (except to Affiliates), to use and display the Lime Marks in connection with the Integrated Product solely (1) as set forth on **Exhibit A**, (2) as required or permitted by Section 6, or (3) as Lime may otherwise approve of. All use of

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the Lime Marks by Uber will be in the form and format approved by Lime, and Uber will not otherwise use or modify the Lime Marks without Lime's prior written consent. All goodwill related to Uber's use of the Lime Marks shall inure solely to the benefit of Lime. The Lime Marks will at all times remain the exclusive property of Lime. Except as expressly set forth herein, Lime does not, and shall not be deemed to, grant Uber any license or rights under any Lime trademarks. All rights not granted herein are expressly reserved by Lime. Uber agrees that the quality of any products or services it provides in connection with the Lime Marks shall conform to the standards required by this Restated Agreement. At a minimum, the quality of the products or services shall be of the same or higher quality as products and services provided by Uber in the past. Should the quality of the goods or services offered in connection with the Lime Marks fall below such standards, Lime reserves the right to terminate the permission to use its Lime Marks if the quality is not restored within a reasonable time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4&nbsp;&nbsp;&nbsp;&nbsp;**Retention of Rights**. Each Party acknowledges and agrees that it will retain all right, title and interest, including all Intellectual Property Rights, in and to all Technology that it created, invented, conceived, first reduced to practice or otherwise developed or owned prior to the Term of this Restated Agreement or that it creates, invents, conceives, first reduces to practice or otherwise develops or acquires during the Term of this Restated Agreement. All rights with respect to Intellectual Property Rights that are not specifically granted under this Restated Agreement are expressly reserved. In connection with this Restated Agreement, or the activities of the Parties in furtherance of this Restated Agreement, no license, covenant, immunity, authorization or other right will be implied, whether by reason of statute, estoppel, or otherwise, with respect to any Intellectual Property Right.

8.&nbsp;&nbsp;&nbsp;&nbsp;**Data Sharing and Ownership**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1&nbsp;&nbsp;&nbsp;&nbsp;**Lime Data**. As between the Parties, Lime will retain all right, title, and interest in and to the Lime Data, including all elements thereof (other than Account Data which is co-owned). Lime will provide such Lime Data to Uber as is required by **Exhibit A**. Lime may, in its discretion, share additional Lime Data with Uber, but is not obligated to do so; provided, that if Lime does share additional Lime Data with Uber then such additionally-shared Lime Data shall be subject to any restrictions imposed by Lime. Lime hereby grants to Uber a worldwide, non-exclusive, non-sublicensable (except to Affiliates), paid-up, royalty-free, non-transferable and non-assignable (except in connection with a permitted assignment of this Restated Agreement under Section 13.8) license to use and reproduce Lime Data that is delivered to Uber or generated by Lime pursuant to the provisions of this Restated Agreement during the Term only for the following purposes: (i) to perform Uber's obligations under this Restated Agreement; (ii) to analyze and improve the Integrated Product (but not, for the avoidance of doubt, developing or improving the Uber App, any Uber products or services, or any third party products and services); and (iii) to comply with applicable laws and regulations. Nothing herein or otherwise implied by law shall be deemed to grant Uber any right, title or interest in or to the Lime Data other than the limited license rights expressly set forth herein.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2&nbsp;&nbsp;&nbsp;&nbsp;**Uber Data**. As between the Parties, Uber will retain all right, title, and interest in and to the Uber Data, including all elements thereof (other than Account Data which is co-owned). Uber will provide such Uber Data to Lime as is required by **Exhibit A**, subject to Section 8.4. Uber may, in its discretion, share additional Uber Data with Lime, but is not obligated to do so; provided, that if Uber does share additional Uber Data with Lime then such additionally-shared Uber Data shall be subject to any restrictions imposed by Uber. Uber hereby grants to Lime a worldwide, non-exclusive, non-sublicensable (except to Affiliates), paid-up, royalty-free, non-transferable and non-assignable (except in connection with a permitted assignment of this Restated Agreement under Section 13.8) license to use and reproduce Uber Data that is delivered to Lime pursuant to the provisions of this Restated Agreement during the Term only for the following purposes: (i) to perform Lime's obligations under this Restated Agreement; and (ii) to comply with applicable laws and regulations. Nothing herein or otherwise implied by law shall be deemed to grant Lime any right, title or interest in or to the Uber Data other than the limited license rights expressly set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3&nbsp;&nbsp;&nbsp;&nbsp;**Data Privacy and Security**. Each party represents and warrants it will comply with the data privacy and security requirements specified in Exhibit E attached hereto (the "**Data Privacy and Security Exhibit**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4&nbsp;&nbsp;&nbsp;&nbsp;**Account Data**. For the avoidance of doubt, Account Data may include Personal Data and will only be provided to Lime with the authorization and consent of the underlying Uber user, which shall be sought by Uber through commercially reasonable means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5&nbsp;&nbsp;&nbsp;&nbsp;**Deletion of Data**. If Lime discovers that it has erroneously (i) received Uber Trip Data or (ii) provided Lime Vehicle Data or Lime Trip Data, the discovery of such error will be promptly addressed with Uber. If Uber discovers that it has erroneously (i) received Lime Trip Data or Lime Vehicle Data or (ii) provided Uber Trip Data, the discovery of such error will be promptly addressed with Lime. The Party that has received such information, pursuant to this Section 8.5, will make commercially reasonable efforts to delete it promptly and thoroughly.

9.&nbsp;&nbsp;&nbsp;&nbsp;**Term and Termination**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1&nbsp;&nbsp;&nbsp;&nbsp;**Term**. This Restated Agreement is effective as of the Restated Effective Date and, unless otherwise terminated pursuant to this Restated Agreement, will remain in effect until December 31, 2028 (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;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Termination**. Either party may terminate this Restated Agreement if the other is in material breach and is unable to cure the material breach within 90 days of receipt of written notice thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2&nbsp;&nbsp;&nbsp;&nbsp;**Effect of Termination**. Upon termination or expiration of this Restated Agreement and following the applicable wind-down period under Section 9.3, (i) each Party will deliver to the other Party (or destroy) any and all data, drawings, notes,

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memoranda, specifications, formulas, and documents, together with all copies thereof, and any other material containing or disclosing any Confidential Information of such other Party, and (ii) all licenses granted hereunder will be terminated immediately other than as specifically set forth herein. Subject to the foregoing, the following Sections of this Restated Agreement will survive termination or expiration of this Restated Agreement: 4.3, 4.4, 4.5, 6.2(e)-(f), 7.4, 9.3, 10, 11.1(c), 11.2, 12 and 13. In addition, each Party will pay promptly when due any amounts that are accrued as of the effective date of expiration or termination or accrue during the wind-down period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3&nbsp;&nbsp;&nbsp;&nbsp;**Wind Down 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In the event of termination under Section 9.2, Lime will continue to perform its obligations under this Restated Agreement for an additional period of three (3) months following the date that such three (3) month notice period has elapsed in Active Markets as of the date such three (3) month notice was given. During such additional three (3) month period, (i) Uber may continue to use materials licensed from Lime, and Lime may continue to use materials licensed from Uber, pursuant to Section 7 hereof for the sole purposes of complying with its surviving obligations under this Restated Agreement, and (ii) both Parties shall work together in good faith to wind down the integrations contemplated in this Restated Agreement and inform their respective users, if applicable. Notwithstanding the foregoing, Lime is not obligated to continue to perform its obligations under this Agreement beyond six (6) months from its notification of an uncured Uber breach (three month notice period, followed by the three month wind-down period) in Section 9.2, above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 in the event of termination under Section 9.2, upon expiration or termination of this Restated Agreement, either Party may continue to use materials and Intellectual Property Rights licensed from the other Party pursuant to Section 7 hereof for the sole purposes of complying with its surviving obligations under this Restated Agreement for a period of no more than sixty (60) days after such expiration or termination, during which time both Parties shall work together in good faith to wind down the integrations contemplated in this Restated Agreement and inform their respective users, if applicable.

10.&nbsp;&nbsp;&nbsp;&nbsp;**Confidentiality and Non-Disclosure**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1&nbsp;&nbsp;&nbsp;&nbsp;**Definition**. "**Confidential Information**" means any non-public information of a Party or any of its affiliates that is disclosed or otherwise made available by or on behalf of one Party or any of its affiliates ("**Disclosing Party**") to the other Party ("**Receiving Party**"), before or after the Effective Date and whether orally, visually, in writing or in any other form, including, without limitation, the terms of this Restated Agreement and information about the Disclosing Party's technology, products, properties, employees, finances, businesses and operations. Confidential Information includes all notes, analyses, compilations, interpretations or other documents prepared by or for the Receiving Party, to the extent they contain, reflect or are based upon the Disclosing Party's Confidential Information. "**Representative**" means a Disclosing Party,

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its controlled subsidiaries, and its and their respective officers, directors, employees, consultants and agents. Neither Party will disclose or otherwise make available any personally identifiable information or protected health information in connection with this Restated Agreement. The obligations set forth in this Section 10 will not apply to Confidential Information that: (i) is or becomes generally available to the public, through no act or omission of the Receiving Party or its Representatives; (ii) was already known by the Receiving Party without any obligation of confidentiality; (iii) is lawfully disclosed by a third party to the Receiving Party without any obligation of confidentiality; or (iv) is independently developed by the Receiving Party without use of or reference to any Confidential Information of the Disclosing Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2&nbsp;&nbsp;&nbsp;&nbsp;**Disclosure and Use Restrictions**. Each Receiving Party will: (i) maintain the Disclosing Party's Confidential Information in strict confidence using the same degree of care that it uses with regard to its own information of like nature, but in no event less than a reasonable degree of care; (ii) not disclose or make available Confidential Information of the Disclosing Party except as authorized herein; and (iii) not use any such Confidential Information other than for the purpose of exercising its express rights or performing its obligations under this Restated Agreement. A Receiving Party may disclose the Disclosing Party's Confidential Information only to its Representatives who have a need to know for, and solely to the extent necessary to pursue, the purpose of exercising its express rights or performing its obligations under this Restated Agreement, provided that: (a) each Representative is bound by written obligations of confidentiality (including, without limitation, with respect to non-use and non-disclosure) at least as protective of the Disclosing Party's Confidential Information as those contained in this Restated Agreement; and (b) the Receiving Party informs each Representative of the confidential nature of the Confidential Information. Each Receiving Party will be responsible for any breach of or non-compliance with this Restated Agreement by its Representatives. A Receiving Party may disclose the Disclosing Party's Confidential Information to the extent required by any applicable law or regulation (including, if reasonably required pursuant to any registration statement (including an S-1) or any other public filings pursuant to any securities laws), provided that the Receiving Party, to the extent legally permissible, gives the Disclosing Party advance written notice of such required disclosure and reasonably assists the Disclosing Party in protecting, preventing or limiting such disclosure at the Disclosing Party's expense. In any event, the Receiving Party will only disclose that portion of the Disclosing Party's Confidential Information which, based on the reasonable advice of counsel, is legally required to be disclosed, and will otherwise exercise all reasonable efforts to receive confidential treatment for such Confidential Information. In addition, each of Lime and Uber may disclose the material terms of this Restated Agreement, in confidence, to potential and actual financial investors (excluding, for the avoidance of doubt, strategic investors including any Specified Uber Competitors or Specified Lime Competitors, as applicable); provided (i) the Disclosing Party shall notify the investors that the material terms of the Restated Agreement are subject to these confidentiality terms and may not be disclosed to any other person and (ii) the Disclosing Party shall be responsible for any unauthorized disclosures by investors.

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11.&nbsp;&nbsp;&nbsp;&nbsp;**Representations and Warranties; Indemnification**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1&nbsp;&nbsp;&nbsp;&nbsp;**Representations and Warranties**.

&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 Lime**. Lime hereby represents and warrants to Uber that (a) it has full and exclusive right and power to enter into and perform according to the terms of this Restated Agreement, (b) it has all rights, licenses or consents required to authorize Uber to perform its obligations under this Restated Agreement and to grant the licenses in this Restated Agreement, including any required licenses or consents from third-party owners of licensed or shared resources (including, without limitation, all rights to make the Lime E- Scooters available under this Restated Agreement), (c) Lime will comply with all applicable laws related to (i) the performance of Lime's obligations in this Restated Agreement and (ii) the Lime E-Scooters and Lime Platform (including, without limitation, ensuring that the Lime E-Scooters are insured in accordance with applicable insurance laws, rules, and regulations, and are maintained in accordance with applicable laws, rules, and regulations in each locality), (d) the Lime Materials, the Lime APIs, and the Lime Platform do not and will not, and any Lime improvements thereto will not, infringe, misappropriate, or otherwise violate any third party non-Uber Affiliate Intellectual Property Right, and (e) Lime has not taken any action that will have the direct or indirect effect of any Uber software incorporated by Lime in the Lime Materials (or any software containing, depending upon, or otherwise linking to such Lime software incorporated in the Lime Materials) subject to the requirement, as a condition of use, modification and/or distribution of such Uber software, that such Uber software or other software incorporated into, derived from or distributed with such Uber software (i) be disclosed or distributed in source code form, (ii) be licensed for the purpose of making derivative works or (iii) be redistributable at no charge.

&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 Uber**. Uber hereby represents and warrants to Lime that (a) it has full and exclusive right and power to enter into and perform according to the terms of this Restated Agreement, (b) it has all rights, licenses or consents required perform its obligations under this Restated Agreement and to grant the licenses in this Restated Agreement, including any required licenses or consents from third-party owners of licensed or shared resources, (c) Uber will comply with all applicable laws related to the performance of Uber's obligations in this Agreement, (d) the Uber App, Uber API and Uber Materials do not and will not, and any Uber improvements thereto will not, infringe, misappropriate, or otherwise violate any Intellectual Property Right of any third party, and (e) Uber has not taken any action that will have the direct or indirect effect of any Lime software incorporated by Uber in the Integrated Product (or any software containing, depending upon, or otherwise linking to such Lime software incorporated in the Integrated Product) subject to the requirement, as a condition of use, modification and/or distribution of such Lime software, that such Lime software or other Lime software incorporated into, derived from or distributed with such Lime software (i) be disclosed or distributed in source code form, (ii) be licensed for the purpose of making derivative works or (iii) be redistributable at no charge.

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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;**DISCLAIMER**. EXCEPT AS SET FORTH ABOVE IN THIS SECTION 11.1, EACH PARTY DISCLAIMS ALL OTHER WARRANTIES, WHETHER EXPRESS, IMPLIED, OR STATUTORY, REGARDING OR RELATING ANY PRODUCTS, SERVICES, TECHNOLOGY OR MATERIALS UNDER THIS AGREEMENT, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2&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;**By Lime**. Lime agrees to indemnify, defend and hold harmless Uber, its officers, directors, employees, customers (including but not limited to any Uber for Business customers, Eligible Users, and any user of the Integrated Product) ("Customers") and agents (each, an "Uber Indemnitee") from any and all third party claims, losses, liabilities, damages, taxes, penalty, interest, expenses and costs (including attorneys' fees and court costs) relating to, resulting from, or arising out of (a) a material breach, or allegation which if true would constitute a material breach, of Sections 6.2, 8.3, 10, 11.1(a), or 13.2 of this Restated Agreement, (b) any claim that the Lime Platform, Lime APIs, Lime Materials, or Uber's use of the Lime Platform, Lime APIs, or Lime Materials under this Restated Agreement infringe a third party non-Uber Affiliate's Intellectual Property Rights ("Lime Infringement Claim"), and (c) any claim or action brought against an Uber Indemnitee relating to any Lime E-Scooter, the Lime Platform, the Lime Materials, or the Integrated Product (except to the extent the claim or action could have been brought based on the Uber App without the Integrated Product integration (excluding the non- Integrated Product portions of the Uber App, the Uber Materials, and the Uber APIs) except to the extent that such claim arises out of or relates to Uber's failure to integrate the Lime Materials into the Integrated Product in accordance with Exhibit A. With respect to Lime's obligations under subsection (b) of this Section 11.2(a), Lime will have no liability for a Lime Infringement Claim that arises from any (i) use of the Lime Materials or Lime Platform in violation of this Restated Agreement, (ii) modification of such Lime Materials or Lime Platform that is not authorized by Lime, or (iii) products, services, hardware, software, or other materials, or the combination of these with such Lime Materials or Lime Platform, if such Lime Materials or Lime Platform would not be infringing without this combination. Notwithstanding anything to the contrary in this Restated Agreement, Uber may disclose the terms of this Section 11.2(a), Section 11.2(c), Section 12 ("Limitation of Liability"), part (c) of Section 11.1(a) ("Representations and Warranties; By Lime"), as well as the applicable definitions of any defined terms contained therein, to its relevant Customers.

&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 Uber**. Uber agrees to indemnify, defend and hold harmless Lime, its officers, directors, employees, customers and agents (each, a "**Lime Indemnitee**") from any and all third party claims, losses, liabilities, damages, expenses and costs (including attorneys' fees and court costs) relating to, resulting from, or arising out of (a) a material breach, or allegation which if true would constitute a material breach, of Sections 6.2, 8.3, 10, or 11.1(b); (b) failure to secure adequate consent to transfer Personal Data to Lime that is required to be transferred to Lime in connection with the Integrated Product, and (c) any claim that the Uber API or Uber Materials or

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Lime's use of the Uber API or Uber Materials under this Restated Agreement infringe a third party's Intellectual Property Rights ("**Uber Infringement Claim"**). With respect to Uber's obligations under subsection (b) of this Section 11.2(b), Uber will have no liability for an Uber Infringement Claim that arises from any (i) use of such Uber APIs or Uber Materials in violation of this Restated Agreement or the API Terms of Use, (ii) modification of such Uber APIs or Uber Materials that is not authorized by Uber, or (iii) products, services, hardware, software, or other materials, or the combination of these with such Uber APIs or Uber Materials, if such Uber API or Uber Materials would not be infringing without this 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Procedure**. Each Party will give the other Party (i) prompt written notice of any such claim; (ii) sole control over the defense and settlement of such claim; and (iii) all necessary information and assistance (at the indemnifying Party's expense) to defend and/or settle such claim. The indemnified Party has the right to participate in the defense of any such indemnified claim at its expense. The indemnifying Party will not be liable for any costs or expenses incurred without its prior written authorization. In the event of any claim against an Uber Customer covered by Section 11.2(a), Uber will request that such Customer provide Lime prompt written notice of such claim and all necessary information and assistance (at Lime's expense) to defend and/or settle such claim. Uber will also notify such Customer that: (i) Lime will have sole control over the defense and settlement of such claim; (ii) the Customer has the right to participate in the defense of any such indemnified claim at its expense; and (iii) Lime will not be liable for any costs or expenses incurred without its prior written authorization.

&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;**Sole Remedy**. The foregoing states the sole remedy of the indemnified Party, and the sole obligation of the indemnifying Party, for infringement or alleged infringement of third party Intellectual Property Rights.

12.&nbsp;&nbsp;&nbsp;&nbsp;**Limitation of Liability**. EXCEPT FOR AMOUNTS PAYABLE TO THIRD PARTIES UNDER A PARTY'S INDEMNIFICATION OBLIGATIONS IN SECTION 11, A BREACH OF A PARTY'S REPRESENTATIONS OR WARRANTIES IN SECTION 11, OR BREACHES OF CONFIDENTIALITY OBLIGATIONS IN SECTION 10, IN NO EVENT SHALL EITHER OF THE PARTIES OR THEIR AFFILIATES, SUPPLIERS, LICENSORS OR CONTRACTORS BE LIABLE TO THE OTHER PARTY FOR LOST PROFITS OR REVENUES, OR INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY MATERIALS, PRODUCTS OR SERVICES PROVIDED UNDER THIS AGREEMENT TO THE OTHER PARTY OR USE THEREOF PURSUANT TO THIS AGREEMENT, HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, OR FOR ANY CLAIM MADE AGAINST EITHER OF THE PARTIES BY ANY THIRD PARTY (EXCEPT FOR A PARTY'S EXPRESS INDEMNIFICATION OBLIGATIONS IN SECTION 11), EVEN IF THE PARTIES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH CLAIM.

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13.&nbsp;&nbsp;&nbsp;&nbsp;**Miscellaneous**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1&nbsp;&nbsp;&nbsp;&nbsp;**Arbitration Agreement, Venue, and Attorneys' Fees**. The Parties agree that any dispute arising out of or relating to any aspect of this Restated Agreement, including but not limited to its formation, interpretation, performance, breach, or enforcement, shall be submitted exclusively to final and binding arbitration in accordance with the Federal Arbitration Act ("**FAA**"), 9 U.S.C. § 1, et seq. Any such arbitration shall be confidential. The arbitration will be administered by JAMS in accordance with the Comprehensive Arbitration Rules and Procedures. The arbitrator will be selected by the Parties from the JAMS' roster of dispute arbitrators. The arbitration will be conducted in San Francisco, California. Judgment on the arbitration award may be entered in any court having jurisdiction. The prevailing Party in any such arbitration shall be entitled to its reasonable attorneys' fees, costs, and arbitration expenses, incurred in the arbitration proceeding as well as any court proceedings to confirm the arbitration award. A Party seeking in court to compel arbitration pursuant to this provision and that succeeds in compelling arbitration shall be entitled to its attorneys' fees and costs incurred in connection with such court proceedings. Notwithstanding the foregoing, nothing herein shall prevent a Party from seeking injunctive relief in any court having jurisdiction in order to protect such Party's Intellectual Property Rights or Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2&nbsp;&nbsp;&nbsp;&nbsp;**Insurance**. Lime will be responsible for all insurance costs attendant with operating the Lime Platform, including a stationless E-Scooter sharing program, and will maintain the insurance levels set forth in this Section 13.2, as may be updated from time-to-time on reasonable request by Uber and as agreed by Lime (such agreement not to be unreasonably withheld or delayed) and any other insurance required by law to operate the Lime Platform or EScooters. Lime will carry commercial general liability insurance, including bodily injury, property damage, contractual and product liability coverage in an amount of not less than [\*\*\*] for each occurrence and in the general aggregate, (ii) Commercial Automobile Insurance, including, bodily injury, passenger liability (where applicable) and property damage for all vehicles, including, but not limited to, all owned, hired (or rented) and non-owned vehicles in an amount not less than [\*\*\*] per accident combined single limit, (iii) Workers' Compensation Statutory limits (for all states of operation) including Employers' Liability with limits of not less than [\*\*\*] and (iv) Privacy and Network Security (sometimes otherwise known as Cyber Liability) coverage which includes providing protection against liability for (a) system attacks, (b) denial or loss of service attacks, (c) spread of malicious software code, (d) unauthorized access and use of computer systems, (e) crisis management and customer notification expenses, (f) privacy regulatory defense and penalties and (g) liability arising from the loss or disclosure of confidential data, with coverage limits of not less than [\*\*\*] per claim Lime will furnish a certificate of insurance evidencing such insurance policy limits. All policies will be written by reputable insurance companies having an A.M. Best financial rating of not less than "A-", and VII. Lime's commercial general liability and commercial automobile insurance will list Uber as an additional insured via blanket endorsement. Lime's commercial general liability, commercial automobile liability, and

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workers' compensation policies shall include a waiver of subrogation. Such insurance will be primary and not seek contribution from any insurance maintained or obtained by Uber and all such insurance will not be cancelled or materially reduced without thirty (30) days' prior written notice to Uber. In no event will the limits of any policy be considered as limiting the liability of Lime under this Restated Agreement. Uber's workers' compensation policy shall apply to cover bodily injury claims made by Uber employees arising out of the use of an E-Scooter if such use is within the scope of the employees' employment (e.g. testing the Integrated Product).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3&nbsp;&nbsp;&nbsp;&nbsp;**No Partnership or Agency**. Nothing in this Restated Agreement is to be construed as creating an agency, partnership, or joint venture relationship between the Parties hereto. The Parties are independent business enterprises, each operating a separate and distinct business. Neither Party will have any right or authority to assume or create any obligations or to make any representations or warranties on behalf of any other Party, whether express or implied, or to bind the other Party in any respect whatsoever.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.4&nbsp;&nbsp;&nbsp;&nbsp;**Publicity**. Neither Party may issue any press releases related to this Restated Agreement, or use the other Party's trademarks in connection with this Restated Agreement without the prior written consent of the other Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.5&nbsp;&nbsp;&nbsp;&nbsp;**Delays**. In the event that either Party is prevented from performing or is unable to perform any of its obligations under this Restated Agreement (other than any payment obligation) due to any Act of God, fire, casualty, flood, earthquake, war, strike, lockout, epidemic, destruction of production facilities, riot, insurrection, material unavailability, or any other cause beyond the reasonable control of the Party invoking this Section (each a "**Force Majeure Event**"), and if such Party will have used its commercially reasonable efforts to mitigate its effects, such Party will give prompt written notice to the other Party, and the time for the performance will be extended for the period of delay or inability to perform due to such occurrences.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.6&nbsp;&nbsp;&nbsp;&nbsp;**Parties and Governing Law**. This Restated Agreement will be governed and construed in accordance with the laws of the State of California, USA, without reference to its choice or conflicts of laws provisions and, subject to Section 13.1, the Parties hereby expressly consent to the personal jurisdiction of the state and federal courts located in San Francisco City and County, California, USA for any lawsuit arising from or related to this Restated Agreement. The Parties agree that the United Nations Conventions on Contracts for the International Sale of Goods will not apply to this Restated Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.7&nbsp;&nbsp;&nbsp;&nbsp;**Notices**. All notices given under this Restated Agreement must be in writing and sent to the addresses specified on the first page of this Restated Agreement or any other addresses the Parties may designate in writing.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.8&nbsp;&nbsp;&nbsp;&nbsp;**Assignment**.

&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;This Restated Agreement may not be assigned by either Party without the other Party's consent, and any other attempted assignment will be void and of no effect; provided, that either Party may assign this Restated Agreement in connection with a merger, stock sale, or sale of all or substantially all assets relating to this Restated Agreement. Notwithstanding the foregoing, Uber may assign this Restated Agreement to an Affiliate. Subject to the foregoing, this Restated Agreement will be binding upon and inure to the benefit of each Party's permitted successors and assigns. For purposes of this Restated Agreement, a Change of Control will be deemed an assignment.

&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;Notwithstanding anything to the contrary herein, in the event Lime undergoes a Change of Control with or by an Expanded Specific Uber Competitor, prior to the Change of Control, Lime shall, unless otherwise directed by Uber in writing, logically and permanently separate from all other data held by Lime (a) all Lime Data associated with Exclusive Integrated Product Users, including, without limitation, Account Data or Lime Trip Data, and (b) all Uber Data, such that in the case of (a) and (b) such data cannot be shared with or accessed by such Expanded Specific Uber Competitor in connection with and following such Change of Control. This Section 13.8(b) shall survive any termination or expiration of the Restated Agreement and shall be binding on all successors and assigns (including by Change of Control) of Lime and its Affiliates regardless of whether Uber has consented to the assignment of this Restated Agreement in accordance with such Change of Control pursuant to Section 13.8(a).

&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;Without limiting any Uber audit rights in Section 4.3 or Section 4.4, in the event Lime undergoes a Change of Control with or by an Expanded Specific Uber Competitor (and regardless of whether this Restated Agreement is assigned pursuant to Section 13.8(a)), upon at least fifteen (15) days prior written request of Uber, (i) Lime (or the successor or assignee of this Restated Agreement pursuant to Section 13.8(a)) will permit or (ii) Lime will cause the acquirer in such Change of Control (if this Restated Agreement is assigned pursuant to Section 13.8(a)) an independent public accountant, selected by Uber and acceptable to Lime, which acceptance will not be unreasonably withheld, to have access during normal business hours to those records of Lime (or such Expanded Specific Uber Competitor) as may be reasonably necessary to verify Lime's compliance with Section 13.8(b). Such an independent public accountant shall sign Lime's (or such Expanded Specific Uber Competitor's) standard confidentiality agreement prior to accessing Lime's (or such Expanded Specific Uber Competitor's) books and records subject to this Section 13.8(c). If such independent accountant's report shows any breach of Section 13.8(c), without limiting any remedy available to Uber, Lime (or such Expanded Specific Uber Competitor) will reimburse Uber for its reasonable out-of-pocket expenses for the audit in addition to any loss or expense incurred by Uber attributable to such breach. Uber shall have the right to one audit as set forth in this Section 13.8(c) for every Change of

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Control with or by an Expanded Specific Uber Competitor. For clarity, in the event Uber conducts an audit pursuant to Section 4.3 or 4.4, such audits shall not count towards the maximum number of audits set forth in this Section 13.8(c). This Section 13.8(c) shall survive any termination or expiration of the Restated Agreement and shall be binding on all successors and assigns (including by Change of Control) of Lime and its Affiliates regardless of whether Uber has consented to the assignment of this Restated Agreement in accordance with such Change of Control pursuant to Section 13.8(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.9&nbsp;&nbsp;&nbsp;&nbsp;**Interpretation.** In this Restated Agreement: (i) "including" means "including, but not limited to," and (ii) examples are illustrative and not the sole examples of a particular concept.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.10&nbsp;&nbsp;&nbsp;&nbsp;**Entire Agreement; Changes in Writing; Partial Invalidity**. This Restated Agreement, including any attached Exhibits, is the entire agreement between the Parties regarding the subject matter. Any addition to, modification of, or waiver of any term of this Restated Agreement must be in writing. If any provision of this Restated Agreement is unenforceable, it will be replaced with the valid provision closest to the Parties' intent and the remaining provisions will continue.

***[Signature Page Follows]***

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***[Signature page for Uber Lime Integration Restated Agreement]***

**IN WITNESS WHEREOF**, the Parties have executed this Restated Agreement by their respective, duly authorized representatives.

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| | | | |
|:---|:---|:---|:---|
| NEUTRON HOLDINGS, INC., DBA LIME | NEUTRON HOLDINGS, INC., DBA LIME | UBER TECHNOLOGIES, INC. | UBER TECHNOLOGIES, INC. |
| By: | /s/ Wayne Ting | By: | /s/ Jack Kloster |
| Name: | &nbsp;&nbsp;&nbsp;&nbsp;Wayne Ting | Name: | Jack Kloster |
| Title: | &nbsp;&nbsp;&nbsp;&nbsp;CEO | Title: | Head of Business Development, US&C |
| Date: | February 10, 2026 | Date: | February 11, 2026 |

---

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| | | | |
|:---|:---|:---|:---|
| UBER B.V. | UBER B.V. | UBER INTERNATIONAL TECHNOLOGIES CORPORATION | UBER INTERNATIONAL TECHNOLOGIES CORPORATION |
| By: | /s/ Anabel Diaz | By: | /s/ Brian Kuntz |
| Name: | &nbsp;&nbsp;&nbsp;&nbsp;Anabel Diaz | Name: | Brian Kuntz |
| Title: | Vice President, EMEA Rides Regional General Manager | Title: | Director |
| Date: | February 12, 2026 | Date: | February 11, 2026 |

---

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**<u>EXHIBIT A</u>**

**Integrated Product**

[\*\*\*]

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**<u>EXHIBIT B</u>**

**Lime Materials**

[\*\*\*]

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**<u>EXHIBIT C</u>**

**Engineering Support Services**

[\*\*\*]

------

**<u>EXHIBIT D</u>**

**Reporting Requirements**

[\*\*\*]

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**<u>EXHIBIT E</u>**

**Data Privacy & Security**

[\*\*\*]

------

**<u>EXHIBIT F</u>**

**Token Recipient Addendum**

[\*\*\*]

------

SCHEDULE 1

REQUESTED INFORMATION

[\*\*\*]

------

**<u>EXHIBIT G</u>**

**API Terms**

[\*\*\*]

------

***Exhibit I***

***Service Fee by Country & Country Equivalents***

[\*\*\*]

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***Exhibit J***

*Stickering Requirements*

[\*\*\*]

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***Exhibit K***

***Refund Fees***

[\*\*\*]

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**EXHIBIT L**

**Payment Terms - Lime (European Economic Area)**

[\*\*\*]

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**SCHEDULE 1 OF EXHIBIT L - LIST OF PARTNERS**

[\*\*\*]

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**SCHEDULE 2 OF EXHIBIT L - FORM OF ACCESSION AGREEMENT**

[\*\*\*]

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**EXHIBIT O**

**UPUK Payments Terms**

[\*\*\*]

## Exhibit 10.15

**Exhibit 10.15**

Neutron Holdings, Inc.

October 4th, 2023

Uber Technologies, Inc.

1515 3<sup>rd</sup> Street

San Francisco, CA 94158

Re:&nbsp;&nbsp;&nbsp;&nbsp;<u>Letter Agreement</u>

Ladies and Gentlemen:

Reference is made herein to that certain License and Integration Agreement, dated as of August 10, 2018, by and among Uber Technologies, Inc., a Delaware corporation ("**UTI**"), Neutron Holdings, Inc., DBA "Lime", a Delaware corporation (the "**Company**"), and the other parties thereto (as amended to date and as may be further amended and/or restated, the "L**icense and Integration Agreement**"). In connection with the execution of Amendment 10 to the License and Integration Agreement, dated as of the date hereof, UTI and the Company hereby agree to the terms and obligations of this letter agreement (this "**Letter Agreement**"). Reference is made herein to that certain Investors' Rights Agreement, dated as of May 7, 2020, by and among the Company, UTI and the other parties thereto (as may be amended and/or restated from time to time, the "**Rights Agreement**"). Capitalized terms used but not defined herein shall have the meanings given to them in the Rights Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional "Market Stand-off" Agreement</u>. Following the expiration of the restrictions contained in Section 2.11 of the Rights Agreement with respect to the IPO (the "**Rights Agreement Lockup Period**"), the following additional restrictions shall apply to UTI.

&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>Certain Definitions</u>. For the purposes of this Letter 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;i."**IPO Date**" means the date of the final prospectus relating to the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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."**Lockup Securities**" means any shares of Common Stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock held by UTI immediately before the IPO 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;iii."**Restricted Activities**" means the following transactions: (i) lending; offering; pledging; selling; contracting to sell; selling any option or contract to purchase; purchasing any option or contract to sell; granting any option, right, or warrant to purchase; or otherwise transferring or disposing of, directly or indirectly, any Lockup Securities or (ii) entering into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of Lockup Securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash, or otherwise.

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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;<u>Lock-up Periods</u>. UTI hereby agrees that it will not, without the prior written consent 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;(x)during the period commencing on the expiration of the Rights Agreement Lockup Period and ending on the date that is one (1) year following the IPO Date (the "**First Lockup Date**"), conduct any Restricted Activities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)during the period commencing on the day after the First Lockup Date and ending on the date that is eighteen (18) months following the IPO Date (the "**Second Lockup Date**"), conduct any Restricted Activities other than Restricted Activities with respect to up to twenty-five percent (25%) of the Lockup Securities, in the aggregate; 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;(z)during the period commencing on the day after the Second Lockup Date and ending on the date that is two (2) years following the IPO Date, conduct any Restricted Activities other than Restricted Activities with respect to up to fifty percent (50%) of the Lockup Securities, in the aggregate.

&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>Exceptions to Lock-up</u>. For clarity, nothing in this Letter Agreement shall restrict UTI's ability to conduct Restricted Activities after the date that is two (2) years following the IPO Date. Further, the provisions of <u>Section 1(b)</u> shall not apply to (i) the sale of any shares to an underwriter pursuant to an underwriting agreement, (ii) the transfer of Lockup Securities by UTI to an Affiliate of UTI, provided that such transferee agrees to be bound by substantially similar restrictions to those contained in this Letter Agreement, or (iii) the transfer of Lockup Securities in connection with a bona fide third-party tender offer, merger, consolidation or other similar transaction, that is approved by the Board of Directors, made to all holders of Common Stock involving a Change of Control (as defined below), provided that in the event that the tender offer, merger, consolidation or other such transaction is not completed, the Lockup Securities owned by UTI shall remain subject to the restrictions contained in this Letter Agreement. For the purposes of this <u>Section 1(c)</u>, "**Change of Control**" means the transfer (whether by tender offer, merger, consolidation or other similar transaction), in one transaction or a series of related transactions, to a person or group of affiliated persons (other than any underwriters in a public offering), of shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock if, after such transfer, the stockholders of the Company immediately prior to such transfer do not own at least fifty percent (50%) of the outstanding voting securities of the Company (or the surviving entity).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination</u>. This Letter Agreement shall terminate and be of no further force or effect upon the earliest to occur of: (i) the date that is two (2) years following the IPO Date, (ii) the termination of the License and Integration Agreement or (iii) immediately prior to the closing of a Deemed Liquidation Event (as defined in the Company's Ninth Amended and Restated Certificate of Incorporation (as may be amended and/or restated 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments and Waivers</u>. This Letter Agreement may not be amended or modified, or any provision hereof waived, without the written consent of the Company and UTI.

&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>Entire Agreement</u>. This Letter Agreement, together with the Rights Agreement, constitutes the full and entire understanding and agreement between the Company and UTI with respect

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to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled.

&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;<u>Other Provisions</u>. The following provisions of the Rights Agreement are hereby incorporated in their entirety into this Letter Agreement as if such provisions were part of this Letter Agreement: Section 6.2 (Governing Law), Section 6.3 (Counterparts), Section 6.4 (Titles and Subtitles), Section 6.5 (Notices), Section 6.7 (Severability) and Section 6.11 (Dispute Resolution).

[*Signature page follows*]

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The undersigned hereby execute and deliver this Letter Agreement as of the date first set forth above.

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| | |
|:---|:---|
| VERY TRULY YOURS, | VERY TRULY YOURS, |
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Susan Anderson |
| Name: | Susan Anderson |
| Title: | VP, Global Business Development Uber |

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| | |
|:---|:---|
| ACKNOWLEDGED AND AGREED: | ACKNOWLEDGED AND AGREED: |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By: | /s/ Sarah Binder |
| Name: | Sarah Binder |
| Title: | General Counsel |

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**SIGNATURE PAGE TO LETTER AGREEMENT**

## Exhibit 10.16

**Exhibit 10.16**

**COMMERCIAL INDUSTRIAL GROSS LEASE**

**1Basic Provisions ("Basic Provisions")**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1**Parties**. This Lease (this "**Lease**"), dated for reference purposes only as of November 12, 2025 (the "**Effective Date**") is made by and between Townsend Street Associates, LLC, a California limited liability company ("**Lessor**") and Neutron Holdings, Inc., a Delaware corporation ("**Lessee**"), (collectively, the "**Parties,**" or individually, a "**Party**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2**Premises**. The entire first (ground) floor of that certain two (2) story building with basement commonly known by the street addresses of 444 Townsend Street, 135 and 145 Bluxome Streets, San Francisco, California 94107 (the "**Building**"), shown on <u>Exhibit A</u> attached hereto (the "**Premises**"). The Parties agree (i) the Premises consists of 29,000 gross (after load factor) square feet on the ground floor of the Building, consisting of all rentable space on the ground floor, (ii) Premises 1 (defined in Paragraph 3.3 below) consists of 14,500 gross square feet (50%) of the Premises and (ii) Premises 2 (defined in Paragraph 3.3 below) consists of 14,500 gross square feet (50%) of the Premises. Notwithstanding anything to the contrary in this Lease, the Premises shall not be subject to remeasurement or modification for the duration of the Term of this Lease, as defined below, or any extension thereof. The Premises are a portion of San Francisco Tax Assessor's Block 3785, Lot 004A. (See Section 2 for further provisions.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3**Term**. Approximately five (5) years and five (5) months ("**Term**") commencing on the date which is ninety (90) days after (i) the First Delivery Date (defined in Paragraph 3.3 below) for Premises 1 (defined in Paragraph 3.3 below) (the "**First Commencement Date**") and (ii) the Second Delivery Date (defined in Paragraph 3.3 below) for Premises 2 (defined in Paragraph 3.3 below) (the "**Second Commencement Date**") and ending on the last day of the calendar month in which the five (5) year, five (5) month anniversary of the Second Commencement Date occurs (the "**Expiration Date**"). Should Lessee substantially complete its contemplated improvements to Premises 1 prior to ninety (90) days after the First Delivery Date, then the date of substantial completion shall instead be the First Commencement Date. Should Lessee substantially complete its contemplated improvements to Premises 2 prior to ninety (90) days after the Second Delivery Date, then the date of substantial completion shall instead by the Second Commencement Date. Once the actual First Commencement Date is known, the parties shall execute a First Commencement Date letter confirming such date. Once the actual Second Commencement Date is known, the parties shall execute a Second Commencement Date letter confirming such date and the Expiration Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4**Intentionally omitted**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5**Base Rent**. $96,666.67 per month ("**Base Rent**"), subject to annual increase and abatement as provided in Sections 4.1 and 4.2 below. (See Section 4.) Lessee shall pay one month of Base Rent upon execution of this Lease which shall be applied to the first full month (10<sup>th</sup> month) of the Term for which Base Rent is due. Should the Term start on a date other than the first day of a calendar month, Lessee shall pay a prorated portion of a month of Base Rent on the Commencement Date.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6**Base Rent to be paid on lease execution**. One (1) month's Base Rent for the first full month of the Term for which Base Rent is due (see Section 1.5 above).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7**Operating Expenses**. Lessee shall pay to Lessor during the Term, in addition to the Base Rent, Lessee's Share (defined below) of all Operating Expenses as defined in Section 4.3 of this Lease ("**Operating Expenses**") in excess of Operating Expenses for the Base Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8**Security Deposit**. Five Hundred Eighty Thousand Dollars ($580,000.00) ("**Security Deposit**"), subject to periodic reduction as provided in Section 5 below. At Lessee's option, the Security Deposit may be in the form of a letter of credit. (See Section 5 for further provisions.) If the letter of credit is not issued by the Effective Date, Lessee shall post the Security Deposit in cash and Lessor shall return the cash Security Deposit upon receipt of the letter of credit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9**Permitted Use**. General office, software development, production, distribution and repair of Lessee's products, and any other ancillary, legally permitted uses. (See Section 6 for further provisions.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10**Insuring Party**. Lessor is the "**Insuring Party.**" (See Section 8 for further provisions.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11**Real Estate Brokers**. The following real estate brokers (collectively, the "**Brokers**") and brokerage relationships exist in this transaction and are consented to by the Parties: JLL represents the Lessee and Newmark represents Lessor. (See Section 15 for further provisions.)

**2Premises**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1**Letting**. Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, the Premises, for the Term, at the rental, and upon all of the terms, covenants and conditions set forth in this Lease. Unless otherwise provided herein, any statement of square footage set forth in this Lease, or that may have been used in calculating rental and/or Operating Expenses, is an approximation which Lessor and Lessee agree is reasonable and the rental based thereon is not subject to revision whether or not the actual square footage is more or less.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2**Condition**. Lessor shall deliver the Premises to Lessee clean and free of debris on the Commencement Date. Lessor warrants that, to the best of Lessor's actual knowledge as of the Effective Date, the existing electrical, plumbing, lighting, heating, ventilating and air conditioning systems, loading doors, and all other such base building-type elements in the Premises, other than those constructed by Lessee, are in good operating condition and repair, and that the structural elements of the roof, bearing walls and foundation, of the Building are free of material defects and in compliance with all Applicable Requirements. Lessor is not presently aware of any material defects or any condition that would cause the Premises to be out of compliance with Applicable Requirements. Should any governmental authority require alterations to the Premises during the Term based on any violation of Applicable Requirements

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existing as of the Commencement Date, Lessor shall be responsible for curing any violations thereof which are not (i) the result of Lessee's activities at the Premises or the Building or (ii) alterations (including without limitation the initial alterations contemplated by Lessee during the Early Access Period) performed by Lessee. If a non-compliance with the warranty set forth in the second sentence of this Section 2.2 exists as of the Commencement Date, or if one of such systems or elements should malfunction or fail within the appropriate warranty period, Lessor shall, as Lessor's sole obligation with respect to such matter, except as otherwise provided in this Lease, promptly, after receipt of written notice from Lessee setting forth with specificity the nature and extent of such non-compliance, malfunction or failure, rectify the same at Lessor's sole cost and expense. The warranty period shall be six (6) months from the Commencement Date. The term "**Applicable Requirements**" shall mean building codes, applicable laws, covenants or restrictions of record, regulations, and ordinances. As of the Commencement Date, Lessor shall be responsible for any code compliance for path of travel to the Premises as necessary for Lessee to secure a Certificate of Occupancy or its equivalent, unless the issue is the result of any Lessee Alteration. Lessee shall otherwise be responsible for code compliance within the Premises to the extent such compliance is required due to Lessee's particular use that is materially different from a typical office, storage, or industrial use. Lessee shall also be responsible for code compliance outside of the Premises where the compliance issue is triggered by Lessee Alterations (initial or otherwise).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3**Acceptance of Premises**. Subject to the terms and conditions of this Lease, Lessee hereby acknowledges: (a) that it has been advised to satisfy itself with respect to the condition of the Premises (including but not limited to the electrical, security, environmental aspects, compliance with Applicable Requirements, as defined in Section 6.3) and the present and future suitability of the Premises for Lessee's intended use, (b) that Lessee has made such investigation as it deems necessary with reference to such matters and assumes all responsibility therefore as the same relate to Lessee's occupancy of the Premises and/or the Term of this Lease, and (c) that neither Lessor, nor any of Lessor's agents, has made any oral or written representations or warranties with respect to the said matters other than as set forth in this Lease. If Lessee does not inform the Lessor within six (6) months of the Commencement Date that any of the items in the space do not properly work, Lessee hereby assumes full responsibility that all the items in the space are in operating condition.

**3Term**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1**Term**. The Commencement Date, Expiration Date and Term of this Lease are as specified in Section 1.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2**Intentionally omitted**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3**Early Possession**. Lessee is aware that as of the Effective Date part of the Premises is occupied by another tenant (the "**Existing Tenant**") pursuant to an existing lease (the "**Existing Lease**"). Lessor represents to Lessee that the Existing Lease is scheduled to expire on December 31, 2026. Lessor shall use commercially reasonable efforts to terminate the Existing Lease and cause the Existing Tenant to vacate the entire Premises by December 31, 2025. In the meantime, at such time as Lessee delivers a signed copy of this Lease, proof of

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insurance, the prepaid Rent (Paragraph 1.6) and the security deposit (Paragraph 1.8), and at such time as an LTA (defined below) is fully executed between Lessor and the Existing Tenant, and the Existing Tenant has had a reasonable period of time to vacate Premises 1 (the date on which all of the foregoing requirements are satisfied, the "**First Delivery Date**"), Lessor shall deliver to Lessee (i) early access to the portion of the Premises not occupied by the Existing Tenant ("**Premises 1**"), and (ii) temporary access to and use of the second floor of the Building (for office use) and the basement (for storage use only) (collectively, the "**Temporary Space**").

&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)From and after the First Delivery Date, Lessee's access and use of Premises 1 shall be continuous and not subject to unreasonable or total interruption by Lessor or any third 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;(b)At such time thereafter as the Existing Lease is terminated and the Existing Tenant vacates the remaining portion of the Premises occupied by the Existing Tenant ("**Premises 2**"), Lessor shall deliver to Lessee early access to Premises 2 (the "**Second Delivery Date**") and Lessee shall return possession of the Temporary Space, vacant and in substantially the same condition as when delivered, within a reasonable time after the Second Delivery Date not to exceed twenty one (21) 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;(c)Nothing in this Early Possession Section shall limit Lessee's continued right of access to Premises 1 after the Second Delivery Date. While occupying the Temporary Space, Lessee shall reasonably cooperate with Lessor as needed to facilitate Lessor's work in the Building, if any there may be from time to time, either to prepare portions of the Building for other occupancies or for any other good faith reason. If Lessor requires Lessee to relocate from any portion of the Temporary Space prior to the Second Delivery Date, Lessor shall provide Lessee with at least fifteen (15) days' prior written notice, and any such relocation shall be to space of sufficient size and functionality to accommodate Lessee's business activities as conducted within the Temporary Space prior to such relocation, and in a manner that does not unreasonably disrupt Lessee's business operations or construction activities. In addition, if required in connection with negotiating early termination of the Existing Lease, Lessee shall vacate the Temporary Space to allow the Existing Tenant to occupy all or a portion of the Temporary Space *provided* that Lessor delivers Premises 2 to Lessee concurrently with such vacation. In all events, Lessee shall reasonably cooperate to reduce the scope of its occupancy of the Temporary Space as and when portions of the Premises are delivered.

&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)The time period beginning on the Effective Date and ending on the First Commencement Date (defined in Paragraph 1.3 above) is referred to as the "**Premises 1 Early Access Period**". The time period beginning on the Second Delivery Date and ending on the Second Commencement Date (defined in Paragraph 1.3 above) is referred to as the "**Premises 2 Early Access 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;(e)Lessee shall have no obligation to pay any rent for the Temporary Space during its occupancy thereof and until the occurrence of the First Delivery Date and the Second Delivery Date, as such dates occur, at which times and after expiration of the applicable free rent periods (Section 4.2) the provisions of Section 4.1 shall apply.

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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;(f)Lessor shall deliver Premises 2 to Lessee, broom-clean and free of occupants, with utilities operational. Lessee shall have no obligation to pay Base Rent during the Premises 1 Early Access Period with respect to Premises 1 nor during the Premises 2 Early Access Period with respect to Premises 2. In all events, however, Lessee shall pay all utility charges for each of the Temporary Space, Premises 1 and Premises 2 for each of their respective Early Access Periods. Lessor shall reasonably estimate utility charges applicable to each Early Access 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;(g)Lessor shall not unreasonably restrict Lessee's permitted construction and installation work during any Early Access Period. Lessor shall provide continuous access to portions of the Premises as they are vacated by the Existing Tenant. Lessee shall reasonably cooperate with Lessor to minimize the impact of Lessee's construction activities on existing tenants and shall otherwise comply with all Lessor's reasonable construction rules and regulations. Lessor's rules and regulations governing Lessee's construction and installation work (the "**Construction Rules**") will allow for work to be conducted during regular business hours, shall be fixed as of the Effective Date, and are attached hereto as <u>Exhibit B</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;(h)Should for any reason Lessor not reach agreement with the Existing Tenant on the terms and conditions of an early lease termination agreement (the "**LTA**") for at minimum Premises 1 within fourteen (14) days of the Effective Date, then Lessor shall have the right to terminate this Lease by written notice to Lessee, *provided* that prior to or concurrently with such termination, and *provided* that Lessee has given Lessor documentation of such costs, Lessor shall reimburse Lessee for all reasonable, documented third-party costs actually incurred by Lessee following the Effective Date in reliance on this Lease (including architectural, design, permitting, and legal expenses). In addition, if Lessor exercises its termination right, Lessee shall be relieved of any obligation to deliver prepaid Rent or the Security Deposit. Conversely, if Lessor executes the LTA but fails to deliver Premises 1 for Lessee's early access within thirty (30) days after the date of such LTA, Lessee shall have the right, upon ten (10) days' written notice to Lessor, to terminate this Lease, in which case Lessor shall promptly return any prepaid Rent or Security Deposit previously delivered and reimburse Lessee for its reasonable, documented third-party costs incurred in reliance hereon incurred after the Effective Date. The foregoing termination right shall not relieve Lessor of its obligations set forth above to use its commercially reasonable efforts to reach agreement with the Existing Tenant on the LTA. Notwithstanding the provisions of Paragraphs 1.6, 1.8 or 3.3, Lessee shall have no obligation to deliver the prepaid Rent or the Security Deposit until Lessor notifies Lessee that it has signed an LTA with the Existing Tenant and waives in writing the termination right set forth above.

**4Rent**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1**Base Rent**. (a) Lessee shall cause payment of Base Rent (in the amount specified in Section 1.5 above), Operating Expense reimbursement, Lessee's Tax Share of Real Property Tax Increases, Lessee's Share of Insurance Cost Increases, and other rent or charges, as the same may be adjusted from time to time, to be received by Lessor in lawful money of the United States, without offset or deduction (except as otherwise provided in this Lease), on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for

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any period during the Term which is for less than one (1) full calendar month shall be prorated based upon the actual number of days of the calendar month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee. The Base Rent will be increased by three percent (3%) every year during the Term on the anniversary of the Commencement Date. All Base Rent increases shall be effective without notice to Lessee to the extent provided in the Lease. Base Rent shall be prorated between Premises 1 and Premises 2 based on the percentages stated in Paragraph 1.2 during any period of time for which the full Base Rent is not due as a result of any delivery timing differences described in Paragraphs 1.3 and/or 3.3 above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2**Free rental periods**. On a prorated basis between Premises 1 and Premises 2 based on the percentages stated in Paragraph 1.2, Base Rent shall be abated during the first nine (9) full months following (i) the First Commencement Date for Premises 1 and (ii) the Second Commencement Date for Premises 2. The Base Rent abatement described in this Section 4.2 shall be conditioned on the Lessee not being in default beyond all applicable notice and cure periods at any point during the Term. Should Lessee be in default beyond all applicable notice and cure periods at any time, (i) Rent abatement shall immediately cease and (ii) in the event that Lessor terminates this Lease in connection with such default during the initial Lease Term, as part of any damages claim, Lessor shall have the right to recover the unamortized amount of abated Base Rent under this Section 4.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3**Operating Expenses**. Commencing on January 1, 2027, Lessee shall pay to Lessor during the Term, in addition to the Base Rent, Lessee's Share (as specified in Section 4.3(c)(ii) below) of the increases in all Operating Expenses, as hereinafter defined, as compared to the Base Year (as defined below in Section 8.1(a)) during each calendar year of the Term of this Lease, in accordance with the following 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;(a)"**Operating Expenses**" is defined, for purposes of this Lease, as all costs incurred by Lessor for the Building, if any, for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)The cost of water, gas, electricity and garbage and disposal services to the extent applicable to Common Areas. Janitorial services for the Premises will not be provided by Lessor. Lessee shall provide its own janitorial within the Premises. If the Building becomes multi-tenanted, then Lessor will provide janitorial services for the common area only and said cost will be included in the definition of "**Operating Expenses.**" Until then, Lessee to provide janitorial to the common areas.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)The operation, repair and maintenance, in neat, clean, good order and condition by Lessor, of the Common Areas and the parking area in front of the Building or in the Parking alley way, including without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)Elevator maintenance and tenant directories; 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)Any other service to be provided by Lessor to keep the Premises in good condition and repair or that is elsewhere in this Lease stated to be an

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"**Operating Expense**". Notwithstanding anything to the contrary in this Lease, Operating Expenses and Insurance Costs shall not include and Lessee shall in no event have any obligation to perform or to pay directly, or to reimburse Lessor for, all or any portion of the following repairs, maintenance, improvements, replacements, premiums, claims, losses, fees, charges, costs and expenses (collectively, "**Costs**"): (a) Costs occasioned by the act, omission or violation of any law by Lessor, any other occupant of the Project, or their respective agents, employees or contractors; (b) Costs occasioned by casualties or by the exercise of the power of eminent domain; (c) Costs to correct any construction defect in the Premises or the Project or to comply with any covenant, condition, restriction, underwriter's requirement or law applicable to the Premises or the Project on the Commencement Date; (d) Costs of any renovation, improvement, painting or redecorating of any portion of the Project not made available for Lessee's use; (e) Costs incurred in connection with negotiations or disputes with any other occupant of the Project and Costs arising from the violation by Lessor or any other occupant of the Project of the terms and conditions of any lease or other agreement: (f) insurance Costs for coverage not customarily paid by tenants of similar projects in the vicinity of the Premises, increases in insurance Costs caused by the activities of another occupant of the Project, and co-insurance payments; (g) Costs incurred in connection with the presence of any Hazardous Material, except to the extent caused by the release or emission of the Hazardous Material in question by Lessee; (h) interest, charges and fees incurred on debt; (i) any bad debt loss, rent loss, or reserves of any kind; (j) Costs of structural repairs to the Building; (k) Costs which could properly be capitalized under generally accepted accounting principles, except to the extent amortized over the useful life of the capital item in question; (l) the wages and benefits of any employee who does not devote substantially all of his or her employed time to the Building unless such wages and benefits are prorated to reflect time spent on operating and managing the Building vis-a-vis time spent on matters unrelated to operating and managing the Building; *provided*, that in no event shall Operating Expenses for purposes of this Lease include wages and/or benefits attributable to personnel above the level of Building manager; (m) Costs for services, supplies or repairs paid to Lessor or any affiliate of Lessor in excess of costs that would be payable in an "arm's length" or unrelated situation for comparable services, supplies or repairs; (n) Costs of services, benefits or facilities made available to other lessees of the Building or Project but not to Lessee; (o) acquisition Costs for sculptures, paintings, and other art objects; (p) electricity or utility consumption by other tenants in excess of standard office use, the costs of Lessor's installation of an electric sub-meter, water meter, or other utility meters for other tenants in the Project, and costs or expenses of utilities directly metered to tenants; (q) Costs of any other premises, building or project owned by the Lessor or its affiliates; (r) advertising and marketing Costs; (s) political or charitable contributions or dues or other Costs; and (t) fines, interest and penalties that derive from Lessor's failure to pay expenses on a timely basis.

&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)The inclusion of the improvements, facilities and services set forth in Section 4.2(a)(ii) of the definition of Operating Expenses shall not be deemed to impose an obligation upon Lessor to either have said improvements or facilities or to provide those services unless the property already has the same, Lessor already provides the services, or Lessor has agreed elsewhere in this Lease to provide the same or some of them.

&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)Lessee's Share of Operating Expenses.

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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;(i)Square footage. For the purpose of allocating Operating Expenses it is determined 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)The Premises is 29,000 gross rentable square feet.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)The Premises is part of the building group described as 434 & 444 Townsend Street and 135 & 145 Bluxome Street consist of 58,000 square feet excluding the basement (the "**Project**"). 450 Townsend consists of 17,500 square feet. Total property square footage is 75,500 square feet not including the basement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)Lessee's Share of Operating Expenses Defined. Lessee's Share of the increases in the Operating Expenses as compared to the Base Year shall be a percentage based on Lessee's gross rentable square feet divided by the total gross rentable square footage of the area serviced or potentially serviced by the Operating Expense(s). "**Lessee's Share**" shall be 50%, unless the Operating Expense is solely for Lessee's benefit (in which case Lessee's Share shall be 100%), benefits only certain lessees and has no benefit to Lessee (in which case, Lessee's Share shall be 0%) or also includes the Lessor's adjacent building at 450 Townsend Street, such as Real Estate Taxes and Insurance Costs (in which case, Lessee's Share shall be 38.4%).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Lessee's Share of the increases of the Operating Expenses as compared to the Base Year shall be billed and payable by Lessee within thirty (30) days after a reasonably detailed statement of actual expenses as compared to the Base Year expenses is presented to Lessee by Lessor. Lessor shall have the right to estimate Lessee's Share of monthly Real Property Taxes increases and Insurance Costs increases pursuant to Section 49 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;(e)Lessor shall keep or cause to be kept separate and complete books of account covering costs and expenses incurred in connection with its maintenance and repair of the Building and Project. Upon Lessee's written request, Lessor will make available for Lessee's review in Lessor's offices in the Project (or via e-mail, internet, or other electronic method), all records and documents used in preparing all statements for Operating Expenses, Insurance Costs and Real Property Taxes for any given year of the Term of this Lease. If an audit of Lessor's Operating Expenses, Insurance Costs and Real Property Taxes, conducted by an independent certified public accountant retained by Lessee for such purpose, demonstrates that the amount of Lessor's Operating Expenses, Insurance Costs and/or Real Property Taxes is at least 5% less than the amount set forth in Lessor's statements for such year, then Lessor shall reimburse Lessee for the reasonable out-of-pocket costs of the audit.

&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)Notwithstanding anything to the contrary in this Lease, Lessor's reasonable estimate of the cost in the Base Year had it been incurred in the Base Year of any new category of expense incurred as an Operating Expense or Insurance Cost in any year after the Base Year (the "**Comparison Year**") and not included as an Operating Expense or Insurance Cost in the Base Year shall, for any such Comparison Year in which such cost is so incurred, be added to and included as an Operating Expense or Insurance Cost in the Base Year as if such cost were incurred and/or paid in the Base Year. For the avoidance of doubt, increases in Real Property Taxes and similar charges (including but not limited to business taxes, margin or gross

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receipt taxes, or any other similar government-imposed charge) whether due to increases in the millage rate, taxable value, imposition of a new direct assessment (or increase to an existing assessment), or any other reason shall not be considered a new category of expense and shall not be subject to this section 4.3(f).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4**Building hours and Security** Lessee shall have access to the Premises 24 hours per day, 7 days per week, 365 days per year. All Security for the Lessee Premises shall be installed and paid for by the Lessee, subject to Lessor's reasonable approval and otherwise subject to the provisions of Section 7.3 below (Alterations).

**5Security Deposit**. Lessee shall deliver to Lessor upon execution hereof $580,000.00 as security for Lessee's faithful performance of Lessee's obligations under this Lease. At Lessee's option, the Security Deposit may be in the form of a letter of credit drawn on a bank and in a form with terms reasonably acceptable to Lessor. Should Lessee elect to use a letter of credit for the security deposit, Lessee shall not delay the execution of the Lease as a result and if necessary to avoid delay, Lessee shall post a cash security deposit and replace it at a later date with the letter of credit when Lessee's bank is ready to issue it. If Lessee fails to pay Base Rent or other rent or charges due hereunder, or otherwise Defaults under this Lease (as defined in Section 13.1), Lessor may use, apply or retain all or any portion of said Security Deposit for the payment of any amount due Lessor or to reimburse or compensate Lessor for any liability, cost, expense, loss or damage (including attorneys' fees) which Lessor may suffer or incur by reason thereof. If Lessor uses or applies all or any portion of said Security Deposit, Lessee shall, within ten (10) business days after written request therefor, deposit moneys with Lessor sufficient to restore said Security Deposit to the full amount required by this Lease, or restore the letter of credit to the amount required by this Lease. Lessor shall, at the expiration or earlier termination of the Term and after Lessee has vacated the Premises, return to Lessee (or, at Lessor's option, to the last assignee, if any, of Lessee's interest herein), that portion of the Security Deposit not used or applied by Lessor within sixty (60) days of expiration or early termination of this Lease. Unless otherwise expressly agreed in writing by Lessor, no part of the Security Deposit shall be considered to be held in trust, to bear interest or other increment for its use, or to be prepayment for any moneys to be paid by Lessee under this Lease. Lessee hereby waives the provisions of Section 1950.7 of the California Civil Code and all other provisions of law, now or hereafter in effect, which (i) establish the time frame by which a landlord must refund a security deposit under a lease, and/or (ii) provide that a landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of Rent, to repair damage caused by a tenant or to clean the premises, it being agreed that Lessor may, in addition, claim those sums reasonably necessary to compensate Lessor for any loss or damage caused by Lessee's default of this Lease, including, but not limited to, all damages or Rent due upon termination of this Lease pursuant to Section 1951.2 of the California Civil Code.

**6Use**. Lessee shall use and occupy the Premises only for the Agreed Use and for no other purpose without Lessor's prior consent. Lessee shall not use or permit the use of the Premises in a manner that is unlawful, creates damage, waste or a nuisance, or that unreasonably disturbs occupants of or causes damage to neighboring premises or properties.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1**Hazardous Substances**.

&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)**Reportable Uses Require Consent**. The term "**Hazardous Substance**" as used in this Lease shall mean any product, substance, or waste whose presence, use, manufacture, disposal, transportation, or release, either by itself or in combination with other materials expected to be on the Premises, is either: (i) potentially injurious to the public health, safety or welfare, the environment or the Premises, (ii) regulated or monitored by any governmental authority, or, (iii) a basis for potential liability of Lessor to any governmental agency or third party under any applicable statute or common law theory. Hazardous Substances shall include, but not be limited to, hydrocarbons, petroleum, gasoline and/or crude oil or any products, by-products or fractions thereof. Lessee shall not engage in any activity in or on the Premises which constitutes a Reportable Use of Hazardous Substances without the express prior written consent of Lessor and timely compliance (at Lessee's expense) with all Applicable Requirements. "**Reportable Use**" shall mean (i) the installation or use of any above or below ground storage tank, (ii) the generation, possession, storage, use, transportation, or disposal of a Hazardous Substance that requires a permit from, or with respect to which a report, notice, registration or business plan is required to be filed with, any governmental authority, and/or (iii) the presence at the Premises of a Hazardous Substance with respect to any Applicable Requirements requires that a notice be given to persons entering or occupying the Premises or neighboring properties. Notwithstanding the foregoing, Lessee may use any ordinary and customary materials reasonably required to be used in the normal course of the Agreed Use, ordinary office supplies (copier toner, liquid paper, glue, etc.) and common household cleaning materials, and Lessor hereby consents to Lessee using lithium-ion batteries in the Premises, so long as such use is in compliance with all Applicable Requirements, is not a Reportable Use, and does not expose the Premises or neighboring property to any risk of contamination or damage in violation of Applicable Requirements or expose Lessor to any liability therefor under Applicable 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;(b)**Duty to Inform Lessor**. If Lessee knows, or has reasonable cause to believe, that a Hazardous Substance has come to be located in, on, under or about the Premises, other than as previously consented to by Lessor, Lessee shall immediately give written notice of such fact to Lessor, and provide Lessor with a copy of any report, notice, claim or other documentation which it has concerning the presence of such Hazardous Substance.

&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)**Lessee Remediation**. Lessee shall not cause or permit any Hazardous Substance to be spilled or released in, on, under, or about the Premises including through the plumbing or sanitary sewer system and shall promptly, at Lessee's expense, comply with all Applicable Requirements and take all investigatory and/or remedial action reasonably recommended, whether or not formally ordered or required for the cleanup of any contamination of and for the maintenance, security and /or monitoring of the Premises or neighboring properties, that was caused or materially contributed to by Lessee, or pertaining to or involving any Hazardous Substance brought onto the Premises during the Term of this Lease, by or for Lessee, its agents or employees.

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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)**Lessee Indemnification**. Lessee shall indemnify, defend and hold Lessor, its agents, employees, lenders and ground lessor, if any, harmless from and against any and all loss of rents and/or damages, liabilities, judgments, claims, expenses, penalties, and attorneys' and consultants' fees arising out of or involving any Hazardous Substance brought onto the Premises by or for Lessee, its agents or employees in violation of Applicable Requirements or this Lease (*provided*, *however*, that Lessee shall have no liability under this Lease with respect to underground migration of any Hazardous Substance under the Premises from adjacent properties not caused or contributed to by Lessee). Lessee's obligations shall include, but not be limited to, the effects of any contamination or injury to person, property or the environment created or suffered by Lessee, and the cost of investigation, removal, remediation, restoration and/or abatement, and shall survive the expiration or termination of this Lease to the extent such costs are proximately caused by Lessee, its agents, or employees, but in no event shall survive the statute of limitations for a claim under which such costs may be recovered. **No termination, cancellation or release agreement entered into by Lessor and Lessee shall release Lessee from its obligations under this Lease with respect to Hazardous Substances, unless specifically so agreed by Lessor in writing at the time of such 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;(e)**Lessor Indemnification**. In addition to the indemnification obligations of Lessor set forth in Section 8.7 below, Lessor and its successors and assigns shall indemnify, defend, reimburse and hold Lessee, its employees and agents, harmless from and against any and all environmental damages, including the cost of remediation, which result from Hazardous Substances which existed on the Premises prior to Lessee's occupancy or which are caused by the gross negligence or willful misconduct of Lessor, its agents or employees. Lessor's obligations, as and when required by the Applicable Requirements, shall include, but not be limited to, the cost of investigation, removal, remediation, restoration and/or abatement, and shall survive the expiration or termination of this Lease. **No termination, cancellation or release agreement entered into by Lessor and Lessee shall release Lessor from its obligations under this Lease with respect to Hazardous Substances, unless specifically so agreed by Lessee in writing at the time of such 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;(f)**Existing Investigations and Remediations**. Lessor shall retain the responsibility and pay for any investigations or remediation measures required by governmental entities having jurisdiction with respect to the existence of Hazardous Substances on the Premises prior to Lessee's occupancy. Lessee shall cooperate fully in any such activities at the request of Lessor, including allowing Lessor and Lessor's agent to have reasonable access to the Premises at reasonable times in order to carry out Lessor's investigative and remedial responsibilities.

&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)**Lessor Remediation**. If a Hazardous Substance Condition (see Section 9.1(e)) occurs during the Term of this Lease, unless Lessee is legally responsible therefor (in which case Lessee shall make the investigation and remediation thereof required by the Applicable Requirements and this Lease shall continue in full force and effect, but subject to Lessor's rights under Section 6.2(d) and Section 13), Lessor shall investigate and remediate such Hazardous Substance Condition, if required, as soon as reasonably possible at Lessor's sole cost and expense, in which event this Lease shall continue in full force and effect.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2**Lessee's Compliance with Applicable Requirements**. Except as otherwise provided in the Lease, Lessee shall, at Lessee's sole expense, fully, diligently and in a timely manner, comply with all Applicable Requirements, the requirement of any applicable fire insurance underwriter or rating bureau, and the commercially reasonable recommendations of Lessor's engineers and/or consultants which relate in any manner to the such Applicable Requirements, without regard to whether such Applicable Requirements are now in effect or become effective after the Commencement Date. Lessee shall, within ten (10) days after receipt of Lessor's written request, provide Lessor with copies of all permits and other documents, and other information evidencing Lessee's compliance with any Applicable Requirements specified by Lessor, and shall immediately upon receipt, notify Lessor in writing (with copies of any documents involved) of any threatened or actual claim, notice, citation, warning, complaint or report pertaining to or involving the failure of Lessee or the Premises to comply with any Applicable Requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3**Inspection; Compliance**. Lessor and Lessor's "**Lender**" (as defined in Section 30) and consultants shall have the right to enter into Premises at any time, in the case of an emergency, and during Lessee's usual business hours after at least 24 hours written notice, identifying the parties by name and reasonably cooperating with Lessee, for the purpose of inspecting the condition of the Premises and for verifying compliance by Lessee with this Lease. Consultants shall be subject to the same terms of confidentiality to which Lessor has agreed with respect to Lessee's business and operations not generally known to the public, including but not limited to confidential information and trade secrets. The cost of any such inspections shall be paid by Lessor, unless a violation or Applicable Requirements, or a Hazardous Substance Condition (see Section 9.1) is found to exist or be imminent, or the inspection is requested or ordered by a governmental authority. In such case, Lessee shall upon request reimburse Lessor for the cost of such inspection, so long as such inspection is reasonably related to the violation or contamination and is Lessee's responsibility hereunder and Lessor provides all relevant information related thereto to Lessee. In addition, Lessee shall provide copies of all relevant safety data sheets (SDS) to Lessor within ten (10) days of the receipt of a written request therefor.

**7Maintenance; Repairs; Utility Installations; Trade Fixtures and Alterations**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1**Lessee's 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;(a)Subject to the provisions of Sections 2.2 (Condition), 7.2 (Lessor's Obligations), 9 (Damage or Destruction), and 14 (Condemnation). Lessee, at Lessee's expense shall keep in good order, condition, and repair the Premises, Utility Installations intended for Lessee's exclusive use, *provided* that they are easily accessible to Lessee and not under a slab, within walls, or unexposed utility lines and Alterations. At such time, if ever, that air conditioning is installed in the Premises, Lessee shall procure and maintain, at Lessee's expense, a ventilating and air conditioning system maintenance contract, with respect to such air condition system located within the Premises or serving the Premises exclusively (wherever located). Lessor reserves the right to procure and maintain the ventilating and air conditioning system

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maintenance contract and if Lessor so elects, Lessee shall reimburse Lessor, upon demand, for the actual out-of-pocket cost 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;(b)If Lessee fails to perform Lessee's obligations under this Section or under any other Section of this Lease beyond all applicable notice and cure periods, Lessor may enter upon the Premises after ten (10) days' prior within notice to Lessee (except in the case of emergency, in which no notice shall be required), perform such obligations on Lessee's behalf and put the Premises in good order, condition, and repair, and the actual reasonable out-of-pocket cost thereof together with interest thereon in the amount of the lesser of (the "**Interest Rate**") (i) 10% and (ii) the maximum rate then allowable by law, which such amounts shall be due and payable as "**Additional Rent**" to Lessor together with Lessee's next Base Rent installment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2**Lessor's 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;(a)Failure to Perform: Subject to the provisions of Sections 2.2 (Condition), 4.2 (Operating Expenses), 6 (Use) 7.1 (Lessee's Obligations), 7.2 (Lessors work) 9 (Damage or Destruction), 13.5 (Breach by Lessor), and 14 (Condemnation) and except for damage caused by any negligent or intentional act or omission of Lessee, Lessee's employees, suppliers, shippers, customers, or invitees, in which event Lessee shall repair the damage, Lessor, at Lessor's expense, subject to reimbursement pursuant to Section 4.2 (Operating Expenses), shall keep in good condition and repair the foundation, floor slab, bearing walls, exterior walls, and roof of the Premises, as well as providing the services for which there is an Operating Expense pursuant Section 4.2 (Operating Expenses). Lessor shall be responsible for the maintenance, repair, and replacement of all exterior doors, windows, and plate glass of other portions of the Building not constituting the Premises (including frames and seals), except to the extent any such repair or replacement is necessitated by the negligence or willful misconduct of Lessee. Lessee expressly waives the benefits of any statute now or hereafter in effect which would otherwise afford Lessee the right to make repairs at Lessor's expense or to terminate this Lease because of Lessor's failure to keep the Premises in good order, condition and repair. Lessor shall not be liable for damages or loss of any kind or nature by reason of Lessor's failure to furnish any services when such failure is caused by accident, breakage, repairs, strikes, lockout, or other labor disturbances or disputes of any character, or by any other cause beyond the reasonable control of Lessor. If Lessor fails to perform Lessor's obligations under this Section 7.2, Lessee may, after thirty (30) days' prior written notice to Lessor (except in the case of an emergency, in which case the only notice which shall be required is a minimum of a forty-eight hours e-mail notice and/or a commercially reasonable notice given the circumstances), perform such obligations upon Lessor's behalf and put the Premises in good order, condition and repair, and Lessor shall promptly pay to Lessee (or provide a Rent credit for Rent next due and owing under the Lease) a sum equal to the actual reasonable out-of-pocket cost 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;(b)**Lessee Improvement Allowance:** Lessor will provide a Lessee Improvement Allowance for the construction of initial improvements Not to Exceed One Million One Hundred Sixty Thousand Dollars ($1,160,000.00) (the "**Lessor's Contribution**") which equates to approximately Forty Dollars ($40.00) per RSF of the ground floor, all of which Lessee may use toward hard construction costs, permit fees, architectural fees, and engineering fees

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related costs of initial improvements to the ground floor of the Premises only and otherwise as approved by Lessor. Any other costs, including without limitation design, permit, architectural and other typical soft costs, over and above Lessor's Contribution shall be paid by Lessee. Lessor's delivery of the Premises shall be in accordance with this Lease (free of debris). Lessor shall pay Lessor's Contribution to Lessee on a monthly basis within thirty (30) days of receipt of paid invoices and unconditional lien releases in statutory form, in installments as the costs of architectural and engineering services and improvement work become due, until the full Lessor's Contribution has been expended. If Lessee has not used all of Lessor's Contribution within twelve (12) months following the earlier of (i) the Delivery Date of Premises 2 or (ii) the date on which Lessee receives all required governmental approvals or permits necessary to commence its initial improvements after acting diligently and with all due speed. Any portion of the Lessor's Contribution remaining unused after such period shall revert to Lessor only to the extent the failure to utilize such funds is not due to Lessor's delay in delivering possession or providing required approvals.

No portion of the Lessor's Contribution may: (i) be applied to the cost of equipment, trade fixtures, moving expenses, furniture, signage, or free rent; (ii) be applied to any portion of the Premises that is subject to a sublease; or (iii) be used to prepare any portion of the Premises for a proposed sublessee or assignee.

Lessee shall be responsible for any FF&E, tele-data, wiring, or moving costs. Notwithstanding anything to the contrary in this Lease, other than the removal of tele-data wiring and alterations identified by Lessor by written notice to Lessee at the time of plan approval, Lessee shall have no obligation to restore the Premises or to remove any Alterations or other improvements upon early termination or at the expiration of the Term of this Lease, unless notified by Lessor in writing to Lessee upon approval of Lessee's improvement work. Notwithstanding the foregoing, office and meeting room enclosures/demising walls, normal office improvements, as well as kitchenette improvements, shall not be subject to restoration by Lessee at the end of the Term. Final plans will be reasonably approved in writing by both parties prior to the start of construction. Lessor shall not charge a construction supervision fee.

&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)Lessee's work shall be done in a reasonable and workmanlike manner and is subject to the reasonable approval of Lessor. Lessee shall cause its initial improvements and all other Alterations (if any) thereafter to be completed (with final permit signoff from the City of San Francisco) within a reasonable time period. Lessee's work has to be performed equal to or greater than the existing Premises building standard, which such standard shall be deemed met by Lessor's approval of such work. Lessee will give Lessor at least ten (10) days' notice before commencing construction of the initial Alterations. Lessee shall comply with Lessor's construction rules attached hereto as <u>Exhibit B</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3**Utility Installations; Trade Fixtures; Alterations**.

&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)**Definitions: Consent Required**. The term "**Utility Installations**" is used in this Lease to refer to all carpeting, window coverings, air lines, power panels, electrical distribution, security, fire protection systems, communication systems, lighting fixtures, heating, ventilating, and air conditioning equipment, plumbing, and fencing in, on or about the Premises.

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The term "**Trade Fixtures**" shall mean Lessee's machinery and equipment that can be removed without doing material damage to the Premises. The term "**Alterations**" shall mean any modification of the improvements on the Premises other than Utility Installations or Trade Fixtures, whether by addition or deletion. "**Lessee Owned Alterations and/or Utility Installations**" are defined as Alterations and/or Utility Installations made by Lessee that are not yet owned by Lessor as defined in Section 7.4(a). Lessee shall not make any Alterations or Utility Installations in, on, under or about the Premises without Lessor's prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. Lessee may, however, make non-structural Alterations and Utility Installations to the interior of the Premises (excluding the roof), as long as they are not visible from the outside, do not involve puncturing, relocating or removing the roof or any existing walls, and the cumulative project cost thereof does not exceed $150,000. If Lessee is not required to obtain Lessor's approval, then Lessee, in order to be allowed to make any alterations (including signs in Section 34) etc., allowed by this Section of the Lease, shall comply with all requirements of Section 7.3(b) except the requirement to obtain Lessor's approval.

&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)**Consent**. Any Alterations or Utility Installations that Lessee shall desire to make after the Commencement Date of this Lease, and which require the consent of Lessor shall be presented to Lessor in written form with proposed detailed plans. All consents given by Lessor, whether by virtue of Section 7.3(a) or by subsequent specific consent, shall be deemed conditioned upon: (i) Lessee's acquiring all applicable permits required by governmental authorities, (ii) the furnishing of copies of such permits together with a copy of the Plans and Specifications for the Alteration or Utility Installation to Lessor prior to commencement of the work thereon, (iii) the compliance by Lessee with all conditions of said permits in a prompt and expeditious manner, and (iv) use of a licensed contractor who will be required to supply Lessee and Lessor proof of workmen's compensation insurance (minimum of $1,000,000 coverage) prior to starting the work. For Alterations, which cost more than $150,000, Lessor has the right to approve the contractor, which shall not be unreasonably withheld. Any Alterations or Utility Installations by Lessee during the Term of this Lease shall be done in a good and workmanlike manner, with good and sufficient new or like-new materials, and in compliance with all Applicable Requirements. Lessee shall promptly upon completion thereof furnish Lessor with as-built Plans and Specifications therefor. Tenant shall complete Alterations expeditiously and in a good and workmanlike manner, using licensed and bonded contractors and professionals.

&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)**Lien Protection/Indemnification**. Lessee shall pay, when due, all claims for labor or materials furnished or alleged to have been furnished to or for Lessee at or for use on the Premises, which claims are or may be secured by any mechanics' or materialmen's lien against the Premises or any interest therein. Lessee shall give Lessor not less than ten (10) days' notice prior to the commencement of any work in, on or about the Premises, and Lessor shall have the right to post notices of non-responsibility in or on the Premises as provided by law. If Lessee shall, in good faith, contest the validity of any such lien, claim or demand, then Lessee shall, at its sole expense defend and protect itself, Lessor and the Premises against the same and shall pay and satisfy or bond-over any such adverse judgment that may be rendered thereon before the enforcement thereof against Lessor or the Premises.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4**Ownership; Removal; Surrender; and Restoration**.

&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)**Ownership**. Subject to Lessor's rights to require their removal or become the owner thereof as hereinafter provided in Section 7.4, all Alterations and Utility Additions made to the Premises by Lessee shall be the property of and owned by Lessee but considered a part of the Premises. Lessor may, at any time and at its option, elect in writing to Lessee to be the owner of all or any specified part of the Lessee Owned Alterations and Utility Installations. Unless otherwise instructed per subsection 7.4(b) hereof, all Lessee Owned Alterations and Utility Installations shall, at the expiration or earlier termination of this Lease, become the property of Lessor and remain upon and be surrendered by Lessee with the Premises.

&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)**Removal**. Lessee shall be responsible for removal of any FF&E, tele- data, wiring, any Alteration or Utility Installation made without Lessor's consent or on which Lessor conditioned its consent at the time of approval on Lessee removing the subject Alteration or Utility Installation, subject to Section 7.2(b). Other than as provided immediately above, Lessee shall have no obligation to restore the Premises at the expiration or earlier termination of the Term of this Lease, unless notified in writing by Lessor upon approval of Lessee improvement work plans, and notwithstanding anything to the contrary in this Lease, Lessee shall not be required to restore any initial Alterations to the Premises described in Section 7.2(b) except as provided in that section. The final plans will be reasonably approved by both parties prior to the start of construction. Lessor shall not charge a construction supervision fee.

&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)**Surrender/Restoration**. Lessee shall surrender the Premises by the end of the last day of the Term of this Lease or any earlier termination date, with all of the improvements, parts and surfaces thereof clean and free of debris and in good operating order, condition and state of repair, ordinary wear and tear, and fire and other casualty excepted. "**Ordinary wear and tear**" shall not include any damage or deterioration that would have been prevented by good maintenance practice or by Lessee performing all of its obligations under this Lease. Except as otherwise agreed or specified in writing by Lessor, the Premises, as surrendered, shall include the Utility Installations. The obligation of Lessee shall include the repair of any damage occasioned by the installation, maintenance or removal of Lessee's Trade Fixtures, furnishings, equipment, and Alterations and/or Utility Installations, as well as the removal of any storage tank installed by or for Lessee, and the removal, or remediation of any soil, material or ground water contaminated by Lessee, all as may then be required by applicable federal, state or local law ("**Applicable Law**") and/or good practice. Unless otherwise agreed to at the time of installation, Lessee's Trade Fixtures shall remain the property of Lessee, may be removed at any time during the Term of this Lease, and shall be removed by Lessee subject to its obligation to repair and restore the Premises per this Lease upon early termination or expiration of this Lease.

**8Insurance; Indemnity**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1**Payment of Insurance Premium and Related Increases**.

&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)Lessee shall pay to Lessor Lessee's Share of the cost of any increase in insurance premiums related to the Premises incurred after the Base Year during the Term of this

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Lease. The base period will be calendar year 2026 (the "**Base Year**"). "**Insurance Cost**" is defined as any cost and related increase in the cost of the insurance required under Sections 8.2(b), 8.3(a) and 8.3(b). "**Insurance Cost Increase**" shall include, but not be limited to, increases resulting from the nature of Lessee's occupancy, any act or omission of Lessee, requirements of the holder of a mortgage or deed of trust covering the Premises, increased valuation of the Premises, and/or a premium rate increase.

&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)Lessee shall pay any such Insurance Premiums and related increases to Lessor within thirty (30) days after receipt by Lessee of a copy of the premium statement or other reasonable evidence of the amount due. If the insurance policies maintained hereunder cover other property besides the Premises, Lessor shall also deliver to Lessee a statement of the amount of such Insurance Cost Increase attributable only to the Premises showing in reasonable detail the manner in which such amount was computed. Premiums for policy periods commencing prior to, or extending beyond, the Term of this Lease shall be prorated to correspond to the Term of this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2**Liability Insurance**.

&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)**Carried by Lessee**. Lessee shall obtain and keep in force during the Term of this Lease a General Liability policy of insurance protecting Lessee, Lessor and any Lenders whose names have been provided to Lessee (as additional insureds via blanket endorsement) against claims for bodily injury, personal injury and property damage based upon, involving or arising out of the ownership, use, occupancy or maintenance of the Premises and all areas attached thereto. Such insurance shall be on an occurrence basis providing single limit coverage in an amount not less than $2,000,000 per occurrence with an "**Additional Insured - Managers or Lessor of Premises**" endorsement and contain the "**Amendment of the Pollution Exclusion**" for damage caused by heat, smoke or fumes from a hostile fire. The policy shall not contain any intra-insured exclusions as between insured people or organizations but shall include coverage for liability assumed under this Lease as an "insured contract" for the performance of Lessee's indemnity obligations under this Lease. The limits of said insurance required by this Lease or as carried by Lessee shall not, however, limit the liability of Lessee nor relieve Lessee of any obligation hereunder. All insurance to be carried by Lessee shall be primary to and not contributory with any similar insurance carried by Lessor, whose insurance shall be considered excess insurance only.

&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)**Carried By Lessor**. In the event Lessor is the Insuring Party, Lessor shall also maintain liability insurance described in Section 8.2(a), above, in addition to, and not in lieu of, the insurance required pursuant to the provisions of this Lease to be maintained by Lessee. Lessee shall not be named as an additional insured therein. Lessor's cost for the coverage contemplated by this section shall be included within the definition of "**Insurance Costs**".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3**Property Insurance -- Building, Improvements and Rental Value**.

&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)**Building and Improvements**. The Insuring Party shall obtain and keep in force during the Term of this Lease a policy or policies in the name of Lessor, with loss payable to Lessor and to the holders of any mortgages, deeds of trust or ground leases on the Premises

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("**Lender(s)**"), insuring loss or damage to the Premises. The amount of such insurance shall be equal to the full replacement cost of the Building, as the same shall exist from time to time, or the amount required by Lenders, but in no event more than the reasonable and available insurable value thereof if, by reason of the unique nature or age of the improvements involved, such latter amount is less than full replacement cost. Lessee Owned Alterations and Utility Installations shall be insured by Lessee under Section 8.4. If the coverage is available and appropriate, such policy or policies shall insure against all risks of direct physical loss or damage (except the perils of flood and/or earthquake unless required by a Lender), including coverage for any additional costs resulting from debris removal and reasonable amounts of coverage for the enforcement of any ordinance or law regulating the reconstruction or replacement of any undamaged sections of the Premises required to be demolished or removed by reason of the enforcement of any building, zoning, safety or land use laws as the result of a covered cause of loss, but not including plate glass insurance. Said policy or policies shall also contain an agreed valuation provision in lieu of any coinsurance clauses, waiver of subrogation, and inflation guard protection causing an increase in the annual property insurance coverage amount by a factor of not less than the adjusted US Department of Labor Consumer Price Index for All Urban Consumers for the city nearest to where the Premises are located.

&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)**Rental Value**. Lessor shall, in addition, obtain and keep in force during the Term of this Lease a policy or policies in the name of Lessor, with loss payable to Lessor and Lender(s), insuring the loss of the full rental and other charges payable by Lessee to Lessor under this Lease for one (1) year (including all real estate taxes, insurance costs, and any scheduled rental increases). Said insurance shall provide that in the event the Lease is terminated by reason of an insured loss, the period of indemnity for such coverage shall be extended beyond the date of the completion of repairs or replacement of the Premises, to provide for one full year's loss of rental revenues from the date of any such loss. Said insurance shall contain an agreed valuation provision in lieu of any coinsurance clause, and the amount of coverage shall be adjusted annually to reflect the projected rental income, property taxes, insurance premium costs and other expenses, if any, otherwise payable by Lessee, for the next twelve (12))-month period. Operating Expenses shall include any commercially reasonable deductible amounts (not to exceed $50,000 per occurrence) in the event of such loss.

&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)**Adjacent Premises**. If the Premises are part of a larger building, or if the Premises are part of a group of buildings owned by Lessor which are adjacent to the Premises, the Lessee shall pay for any increase in the premiums for the property insurance of such building or buildings if said increase is caused by Lessee's acts, omissions, use or occupancy of the Premises.

&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)**Lessee's Improvements**. Lessor shall not be required to ensure Lessee Owned Alterations and Utility Installations unless the item in question has become the property of Lessor under the terms of this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4**Lessee's Property Insurance**. Subject to the requirements of Section 8.5, Lessee, at its cost, shall either by separate policy or, at Lessor's option, by endorsement to a policy already carried, maintain insurance coverage on all of Lessee's personal property, Lessee Owned

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Alterations and Utility Installations in, on, or about the Premises similar in coverage to that carried by the Insuring Party under Section 8.3. Such insurance may be full replacement cost coverage. The proceeds from any such insurance shall be used by Lessee for the replacement of personal property or the restoration of Lessee Owned Alterations and Utility Installations. Lessee shall be the insuring Party with respect to the insurance required by this Section 8.4 and shall provide Lessor with written evidence that such insurance is in force.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5**Insurance Policies**. Insurance required hereunder shall be in companies duly licensed to transact business in the State of California, and maintaining during the policy term a "**General Policyholders Rating**" of at least A, V, or such other rating as may be required by a Lender having a lien on the Premises, as set forth in the most current issue of "**Best's Insurance Guide.**" Lessee shall not do or permit to be done anything which shall invalidate the insurance policies referred to in this Section 8. Lessee shall cause to be delivered to Lessor certificates of insurance evidencing the existence and amounts of, the insurance, and with the additional insureds, required under Sections 8.2(a) and 8.4. No such policy shall be cancelable or subject to modification except after ten (10) days prior written notice to Lessor. Lessee shall at least ten (10) days prior to the expiration of such policies, furnish Lessor with evidence of renewals pursuant to certificates of insurance or "insurance binders" evidencing renewal thereof, or after applicable notice and cure periods, Lessor may order such insurance and charge the cost thereof to Lessee, which amount shall be payable by Lessee to Lessor upon demand. Neither party shall have the right to self-insure the insurance required by them to be carried pursuant to the provisions of this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6**Waiver of Subrogation**. Notwithstanding anything to the contrary in this Lease, Lessee and Lessor ("**Waiving Party**") each hereby releases and relieves the other, and waive their waives its entire right to recover damages (whether in contract or in tort) against the other, for loss of or damage to the Waiving Party's property arising out of or incident to the perils required to be insured against under Section 8. The effect of such releases and waivers of the right to recover damages shall not be limited by the amount of insurance carried or required or by any deductibles applicable thereto. Lessor and Lessee agree to have their respective insurance companies issuing property damage insurance waive any right to subrogation that such companies may have against Lessor or Lessee as the case may be, so long as the insurance is not invalidated thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7**Indemnity**. Except for negligence or willful misconduct of Lessor, its agents, employees or contractors and/or breach of this Lease and/or violation of Applicable Requirements, Lessee shall indemnify, protect, defend and hold harmless the Premises, Lessor and its agents, Lessor's master or ground Lessor, partners and Lenders, from and against any and all claims, loss or rents and/or damages, costs, liens, judgments, penalties, permits, attorney's and consultant's fees, expenses and/or liabilities to the extent arising out of, involving, or in dealing with, the occupancy of the Premises by Lessee, the conduct of Lessee's business, any act, omission or neglect of Lessee, its agents, contractors, employees or invitees to the extent due to Lessee's negligence, willful misconduct or breach of this Lease, and out of any Default or Breach by Lessee in the performance in a timely manner of any obligation on Lessee's part to be performed under this Lease. The foregoing shall include, but not be limited to, the defense or

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pursuit of any claim or any action or proceeding involved therein, and whether or not (in the case of claims made against Lessor) litigated and/or reduced to judgment, and whether well founded or not. In case any action or proceeding be brought against Lessor by reason of any of the foregoing matters, Lessee upon written notice from Lessor shall defend the same at Lessee's expense by counsel reasonably satisfactory to Lessor and Lessor shall cooperate with Lessee in such defense. Lessor need not have first paid any such claim in order to be so indemnified. Further, the terms of Section 8.7 are hereby deemed to be reciprocal relative to area of the Building or Project lying outside the Premises, so long as the Building or Project is in the sole and exclusive control of the Lessor. Except for Lessee's negligence or willful misconduct, Lessor shall indemnify, protect, defend and hold harmless the Premises, Lessee and its agents, partners and Lenders, from and against any and all claims, damages, liens, judgments, penalties, attorneys' and consultants' fees, expenses and/or liabilities arising out of, involving, or in connection with, Lessor's gross negligence, willful misconduct, or a breach of the Lease by Lessor. If any action or proceeding is brought against Lessee by reason of any of the foregoing matters, Lessor shall upon notice defend the same at Lessor's expense by counsel reasonably satisfactory to Lessee and Lessee shall cooperate with Lessor in such defense. Lessee need not have ﬁrst paid any such claim in order to be defended or indemnified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.8**Exemption of Lessor from Liability**. Except for the negligence or willful misconduct of Lessor, its agents, employees or contractors and/or breach of this Lease and/or violation of Applicable Requirements, Lessor shall not be liable for injury or damage to the person or goods, wares, merchandise or other property of Lessee, Lessee's employees, contractors, invitees, customers, or any other person in or about the Premises, whether such damage or injury is caused by or results from fire, steam, electricity, gas, water or rain, or from the breakage, obstruction or other defects of pipes, fire sprinklers, wires, appliances, plumbing, air conditioning or lighting fixtures, or from any other cause, whether the said injury or damage results from conditions arising upon the Premises or upon other portions of the building of which the Premises are a part, or from other sources or places, and regardless of whether the cause of such damage or injury or the means of repairing the same is accessible or not. Lessor shall not be liable for any damages arising from any act or neglect of any other Lessee of Lessor. Notwithstanding Lessor's negligence or breach of this Lease, Lessor shall under no circumstances be liable for injury to Lessee's business or for any loss of income or profit therefrom.

**9Damage or Destruction**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1**Definitions**.

&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)"**Premises Partial Damage**" shall mean damage or destruction to the improvements on the Premises, other than Lessee Owned Alterations and Utility Installations, the repair cost of which damage or destruction is less than 50% of the then Replacement Cost of the Premises immediately prior to such damage or destruction, excluding from such calculation the value of the land and Lessee Owned Alterations and Utility Installations.

&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)"**Premises Total Destruction**" shall mean damage or destruction to the Premises, other than Lessee Owned Alterations and Utility Installations the repair cost of which

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damage or destruction is 50% or more of the then Replacement Cost of the Premises immediately prior to such damage or destruction, excluding from such calculation the value of the land and Lessee Owned Alterations and Utility Installations. In addition, damage or destruction to the Building other than Lessee Owned Alterations and Utility Installations of any Lessees of the Building, the cost of which damage and destruction is 50% or more of the then Replacement Cost of the Building shall, at the option of Lessor, be deemed to be Premises Total Destruction.

&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)"**Insured Loss**" shall mean damage or destruction to improvements on the Premises, other than Lessee Owned Alterations and Utility Installations, which was caused by an event required to be covered by the insurance described in Section 8.3(a), irrespective of any deductible amounts or coverage limits involved.

&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)"**Replacement Cost**" shall mean the cost to repair or rebuild the improvements owned by Lessor at the time of the occurrence to their condition existing immediately prior thereto, including demolition, debris removal and upgrading required by the operation of applicable building codes, ordinances or laws, and without deduction for depreciation.

&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)"**Hazardous Substance Condition**" shall mean the occurrence or discovery of a condition involving the presence of, or a contamination by, a Hazardous Substance as defined in Section 6.2(a), in, on, or under the Premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2**Partial Damage - Insured Loss**. If a Premises Partial Damage that is an Insured Loss occurs, then Lessor shall, at Lessor's expense, repair such damage (but not Lessee's Trade Fixtures or Lessee Owned Alterations and Utility Installations) as soon as reasonably possible and this Lease shall continue in full force and effect. Notwithstanding the foregoing, if the required insurance was not in force or the insurance proceeds are not sufficient to effect such repair, the Insuring Party shall promptly contribute the shortage in proceeds as and when required to complete said repairs. In the event, however, the shortage in proceeds was due to the fact that, by reason of the unique nature of the improvements, full replacement cost insurance coverage was not reasonable and available, Lessor shall have no obligation to pay for the shortage in insurance proceeds or to fully restore the unique aspects of the Premises unless Lessee provides Lessor with the funds to cover same, or adequate assurance thereof, within ten (10) days following receipt of written notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said ten (10)-day period, the party responsible for making the repairs shall complete them as soon as reasonably possible and this Lease shall remain in full force and effect. If Lessor does not receive such funds or assurance within said period, Lessor may nevertheless elect by written notice to Lessee within ten (10) days thereafter to make such restoration and repair as is reasonable with Lessor paying any shortage in proceeds, in which case this Lease shall remain in full force and effect. If in such case Lessor does not so elect, then this Lease shall terminate sixty (60) days following the occurrence of the damage or destruction. Unless otherwise agreed, Lessee shall in no event have any right to reimbursement from Lessor for any funds contributed by Lessee to repair any such damage or destruction. Premises Partial Damage due to flood or earthquake shall be subject to Section 9.3

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rather than Section 9.2, notwithstanding that there may be some insurance coverage, but the net proceeds of any such insurance shall be made available for the repairs if made by either Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3**Partial Damage - Uninsured Loss**. If a Premises Partial Damage that is not an Insured Loss occurs, unless caused by a negligent or willful misconduct of Lessee (in which event Lessee shall make the repairs at Lessee's expense and this Lease shall continue in full force and effect, but subject to Lessor's rights under Section 13), Lessor shall repair the Premises as soon as reasonably possible at Lessor's expense, unless the cost of such repair shall exceed fifty percent (50%) of the Fair Market Value of the Premises at the time of the event causing the Premises Partial Damage, in which event Lessor may at Lessor's option, either: (i) repair such damage as soon as reasonably possible at Lessor's expense, in which event this Lease shall continue in full force and effect, or (ii) give written notice to Lessee within thirty (30) days after receipt by Lessor of knowledge of the occurrence of such damage of Lessor's desire to terminate this Lease as of the date sixty (60) days following the giving of such notice. In the event Lessor elects to give such notice of Lessor's intention to terminate this Lease, Lessee shall have the right within ten (10) days after the receipt of such notice to give written notice to Lessor of Lessee's commitment to pay for the repair of such damage in excess of insurance proceeds at Lessee's expense and without reimbursement from Lessor. Lessee shall provide Lessor with the required funds or satisfactory assurance thereof within thirty (30) days following Lessee's said commitment. In such event this Lease shall continue in full force and effect, and Lessor shall proceed to make such repairs as soon as reasonably possible, and the required funds are available. If Lessee does not give such notice and provides the funds or assurance thereof within the times specified above, this Lease shall terminate as of the date specified in Lessor's notice of termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4**Total Destruction**. Notwithstanding any other provision hereof, if a Premises Total Destruction occurs (including any destruction required by any authorized public authority), either party to this Lease can terminate the Lease with twenty-four (24) hour written notice to the other party, whether or not the damage or destruction is an Insured Loss or was caused by a negligent or willful act of Lessee. In the event, however, that the damage or destruction was caused by Lessee, Lessor shall have the right to recover Lessor's damages from Lessee except as released and waived in Section 8.6.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5**Damage Near End of Term**. If at any time during the last six (6) months of the Term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor or Lessee may, at either party's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to the other party of such party's election to do so within thirty (30) days after the date of occurrence of such damage. *Provided, however*, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by, within twenty (20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("**Exercise Period**"), (i) exercising such option and (ii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs. If Lessee duly exercises such option during said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to

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cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during said Exercise Period, then Lessor may, at Lessor's option, terminate this Lease as of the expiration of said sixty (60)-day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the grant of option to the contrary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6**Abatement of Rent; Lessee's 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;(a)In the event of damage described in Section 9.2 (Partial Damage - Insured), whether or not Lessor or Lessee repairs or restores the Premises, the Base Rent, Operating Expenses, Real Property Taxes, insurance premiums, and other charges, if any payable by Lessee hereunder for the period during which such damage, its repair or the restoration continues (not to exceed the period for which rental value insurance is required under Section 8.3(b)), shall be abated in proportion to the degree to which Lessee's use of the Premises is impaired. Except for abatement of Base Rent, Operating Expenses, Real Property Taxes, insurance premiums, and other charges, if any, as aforesaid, all other obligations of Lessee hereunder shall be performed by Lessee, and Lessee shall have no claim against Lessor for any damage suffered by reason of any such repair or restoration.

&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)If Lessor shall be obligated to repair or restore the Premises under the provisions of this Section 9 and shall not commence, in a substantial and meaningful way, the repair or restoration of the Premises within ninety (90) days after such obligation shall accrue, Lessee may, at any time prior to the commencement of such repair or restoration, give written notice to Lessor and to any Lenders of which Lessee has actual notice of Lessee's election to terminate this Lease on a date not less than sixty (60) days following the giving of such notice. If Lessee gives such notice to Lessor and such Lenders and such repair or restoration is not commenced within thirty (30) days after receipt of such notice, this Lease shall terminate as of the date specified in said notice. If Lessor or a Lender commences the repair or restoration of the Premises within thirty (30) days after receipt of such notice, this Lease shall continue in full force and effect. "**Commence**" as used in this Section shall mean either the unconditional authorization of the preparation of the required plans, or the beginning of the actual work on the Premises, whichever first occurs. Unless such repair or restoration is required due to the action or inaction of Lessee at the Premises, the time periods set forth in this Section 9.6(b) shall be extended by a number of days equal to days of "**Force Majeure Delay,**" which shall mean and refer to delays caused by lockouts; labor disputes; acts of God; inability to obtain labor, materials or reasonable substitutes therefor; governmental restrictions, regulations or controls; judicial orders; enemy or hostile governmental action; civil commotion; acts of terror; fire or other casualty; and other causes beyond the reasonable control of the party obligated to perform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7**Hazardous Substance Conditions**. If a Hazardous Substance Condition occurs, unless Lessee is legally responsible therefor (in which case Lessee shall make the investigation and remediation thereof required by Applicable Law and this Lease shall continue in full force and effect, but subject to Lessor's rights under Section 13), Lessor may at Lessor's option either

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(i) investigate and remediate such Hazardous Substance Condition, if required, as soon as reasonably possible at Lessor's expense, in which event this Lease shall continue in full force and effect, or (ii) if the estimated cost to investigate and remediate such condition exceeds twelve (12) times the then monthly Base Rent or $100,000, whichever is greater, give written notice to Lessee within thirty (30) days after receipt by Lessor of knowledge of the occurrence of such Hazardous Substance Condition of Lessor's desire to terminate this Lease as of the date sixty (60) days following the giving of such notice. In the event Lessor elects to give such notice of Lessor's intention to terminate this Lease, Lessee shall have the right within ten (10) days after the receipt of such notice to give written notice to Lessor of Lessee's commitment to pay for the investigation and remediation of such Hazardous Substance Condition in excess of insurance proceeds at Lessee's expense and without reimbursement from Lessor except to the extent of an amount equal to twelve (12) times the then monthly Base Rent or $100,000, whichever is greater. Lessee shall provide Lessor with the funds required of Lessee or satisfactory assurance thereof within thirty (30) days following Lessee's said commitment. In such event this Lease shall continue in full force and effect, and Lessor shall proceed to make such investigation and remediation as soon as reasonably possible and the required funds are available. If Lessee does not give such notice and provide the required funds or assurance thereof within the times specified above, this Lease shall terminate as of the date specified in Lessor's notice of termination. If a Hazardous Substance Condition occurs for which Lessee is not legally responsible, there shall be abatement of Lessee's obligations under this Lease to the same extent as provided in Section 9.6(a) for a period of not to exceed twelve (12) months.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8**Termination - Advance Payments**. Upon termination of this Lease pursuant to this Section 9, an equitable adjustment shall be made concerning advance Base Rent and any other advance payments made by Lessee to Lessor. Lessor shall, in addition, return to Lessee so much of Lessee's Security Deposit as has not been, or is not required to be, used by Lessor under the terms of this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9**Waive Statutes**. Lessor and Lessee agree that the terms of this Lease shall govern the effect of any damage to or destruction of the Premises with respect to the termination of this Lease and hereby waive the provisions of any present or future statute to the extent inconsistent herewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.10**Force Majeure Delay**. The time periods set forth in this Lease shall be extended by a number of days equal to days of "**Force Majeure Delay,**" which shall mean and refer to delays caused by lockouts; labor disputes; acts of God; inability to obtain labor, materials or reasonable substitutes therefor; governmental restrictions, regulations or controls; judicial orders; enemy or hostile governmental action; civil commotion; acts of terror; fire or other casualty; and other causes beyond the reasonable control of the party obligated to perform.

**10Real Property Taxes**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1**Payment of Taxes**.

&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)Lessor shall pay the Real Property Taxes, as defined in Section 10.2, applicable to the Premises; *provided*, *however*, that commencing January 1, 2027, Lessee shall

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pay, in addition to rent, Lessee's Tax Share (defined hereafter) of any increase in the Real Property Taxes over the Tax Base Year (as hereinafter defined) ("**Real Property Tax Increases**"). The "Tax Base Year" would be determined by taking the billing for the last half for fiscal year July 2025 to June 2026 and the first half of the fiscal year July 2026 to June 2027 applicable to the Building. Subject to Section 10.1(b), payment of any such Real Property Taxes and related increases (to the extent Lessee is responsible for such increases under this Lease) over the Tax Base Year shall be made by Lessee within thirty (30) days after receipt of Lessor's written statement setting forth the amount due. Lessor will furnish Lessee with evidence that such taxes have been paid. If any such taxes to be paid by Lessee shall cover any period of time prior to or after the expiration or earlier termination of the Term, Lessee's share of such taxes shall be equitably prorated to cover only the period of time within the tax fiscal year this Lease is in effect, and Lessor shall reimburse Lessee for any overpayment after such proration. Lessee's share of the increase in Real Property Taxes as compared to the Tax Base Year will be based on total square footage of the Project (58,000 sq. ft.) plus 17,500 sq. ft. at 450 Townsend, which totals 75,500 sq. ft. Lessee share is 38.4% (29,000 / 75,500; "**Lessee's Tax 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;(b)**Additional Improvements**. Notwithstanding Section 10.1(a) hereof, Lessee shall pay to Lessor upon demand the entirety of any increase in Real Property Taxes assessed by reason of Alterations or Utility Installations placed upon the Premises by Lessee or at Lessee's request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2**Definition of** "**Real Property Taxes**". As used herein, the term "**Real Property Taxes**" shall include any form of real estate tax or assessment, general, special, ordinary or extraordinary, and any license fee, commercial rental tax, improvement bond or bonds, levy or tax (other than inheritance, personal income or estate taxes) imposed upon the Premises by any authority having the direct or indirect power to tax, including any city, state or federal government, or any school, agricultural, sanitary, fire, street, drainage or other improvement district thereof, levied against any legal or equitable interest of Lessor in the Premises or in the real property of which the Premises are a part, Lessor's right to rent or other income there from, and/or Lessor's business of leasing the Premises. The term "**Real Property Taxes**" shall also include any tax, fee, levy, assessment or charge, or any increase therein, imposed by reason of events occurring, or changes in Applicable Law taking effect, during the Term of this Lease, including but not limited to a change in ownership, or change in the improvements thereon, the execution of this Lease, or any modification, amendment or transfer thereof, and whether or not contemplated by the Parties. Notwithstanding the foregoing, any Real Property Taxes which may be paid in installments shall be so paid, and Lessee shall pay when due only those installments which are applicable to the Term. Any overpayments of Real Property Taxes shall at Lessee's election be promptly refunded by Lessor or credited to the next payable installment of Rent. Notwithstanding anything to the contrary in this Lease, "**Real Property Taxes**" shall not include and Lessee shall not be required to pay any portion of any tax or assessment expense or any increase therein (a) in excess of the amount which would be payable if such tax or assessment expense were paid in installments over the longest permitted term to pay without penalty or interest; (b) imposed on land and improvements other than the Project; or (c) attributable to Lessor's net income, inheritance, gift, transfer, estate or state taxes.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3**San Francisco Prop C Gross Receipts tax**: Lessee will pay respective share (based on payments made under this Lease) of all taxes due and payable to the city and county of San Francisco under Prop C based on the Lessee gross rent paid during the year as reported by Lessor to the City and County of San Francisco on the require tax forms. Lessee's obligations include all gross receipts taxes on rents or rentals of commercial space, office space and/or warehouse space in the City of San Francisco, including, without limitation, (i) Proposition C which passed on June 5, 2018 and is also known as the Commercial Rent Tax for Childcare and Early Education ("Childcare Tax"), as it may be amended and/or recodified and (ii) Proposition C: San Francisco Gross Receipts Tax for Homelessness Services Initiative which passed on November 2018 ("Homelessness Tax"), as it may be amended (and/or recodified), and any tax, assessment or similar charge on the gross rents from the Premises levied against Landlord in lieu of the Childcare Tax or Homelessness Tax.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4**Joint Assessment**. If the Premises are not separately assessed, Lessee's liability shall be an equitable proportion of the Real Property Taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Lessor from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Lessor's reasonable determination thereof, in good faith, shall be conclusive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5**Personal Property Taxes**. Lessee shall pay prior to delinquency all taxes assessed against and levied upon Lessee Owned Alterations, Utility Installations, Trade Fixtures, furnishings, equipment and all personal property of Lessee contained in the Premises or elsewhere. When possible, Lessee shall cause its Trade Fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Lessor. If any of Lessee's said personal property shall be assessed with Lessor's real property, Lessee shall pay Lessor the taxes attributable to Lessee within thirty (30) days after receipt of a written statement setting forth the taxes applicable to Lessee's property.

**11Utilities**. Lessee shall pay directly to each provider for all water, gas, heat, light, power, telephone, trash disposal and other utilities and services supplied to the Premises, together with all taxes thereon. If any such services are not separately metered to Lessee, Lessee shall pay a reasonable proportion, to be reasonably determined by Lessor, of all charges jointly metered with other premises, as set forth in Section 4.3(a)(i). Notwithstanding the foregoing, if Lessee is unable to conduct its business within the Premises for five (5) consecutive business days as a result of the negligence or willful misconduct of Lessor to furnish any of the foregoing utilities, then Rent shall abate until such date as Lessor is able to commence to furnish such utilities and/or services.

**12Assignment and Subletting**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1**Lessor's Consent 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;(a)Lessee shall not voluntarily or by operation of law assign, transfer, mortgage or otherwise transfer or encumber (collectively, "**Assignment**") or sublet all or any part of Lessee's interest in this Lease or in the Premises without Lessor's prior written consent

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except for the exception as provided below under this section. When consent is required, it shall not be unreasonably withheld.

&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)A change in the control of Lessee shall constitute an assignment requiring Lessor's consent. An Assignment or sublet to a related entity, subsidiary, or successor-entity of Lessee ("**Affiliate**") does not require Lessor's consent but Lessee has to provide written notice of said transfer and the Affiliate must have a net worth equal to or more than the Lessee at the time of the transfer or the First Delivery Date, whichever is greater. The transfer, on a cumulative basis, of fifty percent (50%) or more of the voting control of Lessee shall constitute a change in control 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;(c)Lessee shall have the right at any time to sublease or assign all or any portion of the Premises to any unrelated entity subject to Lessor's prior consent, which shall not unreasonably be withheld, conditioned, or delayed. In the case of such a sublease or assignment of the Premises, except for a Permitted Transfer or a transfer to an Affiliate, the net profits from the Sublet (if any), after deducting the Lessee reasonable sublease cost, including sublease improvements, commissions, free rent and attorney's fees, shall be split Seventy-Five Percent (75%) to Lessor and Twenty-Five Percent (25%) to Lessee.

&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)Notwithstanding anything to the contrary in this Lease, the involvement of Lessee or its assets or stock in any transaction, or series of transactions (by way of merger, sale, acquisition, financing, refinancing, transfer, leveraged buy-out or otherwise), whether or not a formal assignment or hypothecation of this Lease or Lessee's assets or stock occurs, shall not be considered an assignment of this Lease by Lessee that would require Lessor's consent. Any transaction, transfer, assignment or sublease set forth under this subsection and Section 12.1(b) shall be referred to as a "**Permitted Transfer**" and such transferee/assignee/sublessee (as applicable), 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;(e)An assignment or subletting of Lessee's interest in this Lease that requires Lessor consent and said consent was not obtained, shall, at Lessor's option, be a Default curable after notice per Section 13.1(c), or a non-curable Breach without the necessity of any notice and grace period. If Lessor elects to treat such unconsent to assignment or subletting as a non-curable Breach, Lessor shall have the right to either: (i) terminate this Lease, or (ii) upon thirty (30) days written notice ("**Lessor's Notice**"), increase the monthly Base Rent to fair market rental value or one hundred ten percent (110%) of the Base Rent then in effect, whichever is greater, until cured. Pending determination of the new fair market rental value, if disputed by Lessee, Lessee shall pay the amount set forth in Lessor's Notice, with any overpayment credited against the next installment(s) of Base Rent coming due, and any underpayment for the period retroactively to the effective date of the adjustment being due and payable immediately upon the determination thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2**Terms and Conditions Applicable to Assignment and Subletting**.

&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)Regardless of Lessor's consent, any assignment or subletting shall not: (i) be effective without the express written assumption by such assignee or Sublessee of the obligations of Lessee under this Lease, (ii) release Lessee of any obligations hereunder, or (iii)

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alter the primary liability of Lessee for the payment of Base Rent and other sums due Lessor hereunder or for the performance of any other obligations to be performed by Lessee under this Lease.

&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)Lessor may accept any rent or performance of Lessee's obligations from any person other than Lessee pending approval or disapproval of an assignment. Neither a delay in the approval or disapproval of such an assignment nor the acceptance of any rent or performance shall constitute a waiver or estoppel of Lessor's right to exercise its remedies for the Default or Breach by Lessee of any of the terms, covenants or conditions of this Lease.

&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)The consent of Lessor to any assignment or subletting shall not constitute consent to any subsequent assignment or subletting by Lessee or to any subsequent or successive assignment or subletting by the Sublessee.

&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)Each request for consent to an assignment or subletting shall be in writing, accompanied by information relevant to Lessor's determination as to the financial and operational responsibility and appropriateness of the proposed assignee or Sublessee, including but not limited to the intended use and/or required modification of the Premises, if any, together with a non-refundable fee of $1,000 as reasonable consideration for Lessor's considering and processing the request for consent. In addition, Lessee shall reimburse Lessor for Lessor's actually incurred attorneys' fees and other direct costs in reviewing the request and consenting thereto, not to exceed $4,000 ($5,000 total, with Lessor's fee). Lessee agrees to provide Lessor with such other or additional information and/or documentation as may be reasonably requested by Lessor.

&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)Any assignee of, or Sublessee under, this Lease shall, by reason of accepting such assignment or entering into such sublease, be deemed, for the benefit of Lessor, to have assumed and agreed to conform and comply with each and every term, covenant, condition and obligation herein to be observed or performed by Lessee during the term of said assignment or sublease, other than such obligations as are contrary to or inconsistent with provisions of an assignment or sublease to which Lessor has specifically consented in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3**Additional Terms and Conditions Applicable to Subletting**. The following terms and condition shall apply to any subletting by Lessee of all or any part of the Premises and shall be deemed included in all subleases under this Lease whether or not expressly incorporated therein:

&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)Lessor may collect rent from any Sublessee and apply same toward Lessee's obligations under this Lease if there is a Breach by Lessee. Lessor shall not, by reason of the collection of the rents from a Sublessee, be deemed liable to the Sublessee for any failure of Lessee to perform and comply with any of Lessee's obligations to such Sublessee under such sublease. Lessee hereby irrevocably authorizes and directs any such Sublessee, upon receipt of a written notice from Lessor stating that a Breach exists in the performance of Lessee's obligations under this Lease, to pay to Lessor the rents and other charges due and to become due under the sublease. Sublessee shall rely upon any such statement and request from Lessor and shall pay such rents and other charges to Lessor without any obligation or right to inquire as to whether

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such Breach exists and notwithstanding any notice from or claim from Lessee to the contrary. Lessee shall have no right or claim, until the Breach has been cured, against Lessor, for any such rents and other charges so paid by said Sublessee to Lessor.

&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)In the event of a Breach by Lessee in the performance of its obligations under this Lease, Lessor, at its option and without any obligation to do so, may require any Sublessee to attorn to Lessor, in which event Lessor shall undertake the obligations of the Sublessor under such sublease from the time of the exercise of said option to the expiration of such sublease; *provided, however*, Lessor shall not be liable for any prepaid rents or security deposit paid by such Sublessee to such Sublessor or for any other prior Defaults or Breaches of such Sublessor under such sublease.

&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)Any matter or thing requiring the consent of the Sublessor under a sublease shall also require the consent of Lessor 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;(d)No Sublessee shall further assign or sublet all or any part of the Premises without Lessor's prior written consent.

&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)Lessor shall deliver a copy of any notice of Default or Breach by Lessee to the Sublessee, who shall have the right to cure the Default of Lessee within the grace period, if any, specified in such notice. The Sublessee shall have a right of reimbursement and offset from and against Lessee for any such Defaults cured by the Sublessee.

&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)Seventy-Five percent (75%) of any sums or other economic consideration in excess of the "Net Profit" derived from the subletting or assignment (other than a Permitted Transfer or transfer to an Affiliate) shall be payable to Lessor as additional rent under this Lease without affecting or reducing any other obligation of Lessee hereunder. The definition of "**Net Profits**" in the case of a sublease or assignment of the Premises is determine by taking the base rent less: the Lessee reasonable sublease cost, including sublease improvements, commissions, free rent and attorney's fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4**Lessor's Recapture Right**.

&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)Notwithstanding any other provision of this Section 12, except for any Permitted Transfer or a transfer to an Affiliate, Lessor has the option, by written notice to Lessee within 15 days after Lessee's request for consent, to recapture this Lease with respect to the space being sublet if Lessee decides to sublet the space.

**13Default; Breach; Remedies**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1**Default; Breach**. Lessor and Lessee agree that if an attorney is consulted by Lessor in connection with a Lessee Default or Breach (as hereinafter defined), $1,000.00 is a reasonable minimum sum per such occurrence for legal services and costs in the preparation and service of a notice of Default, and that Lessor may include the cost of such services and costs in said notice as rent due and payable to cure said Default. A "**Default**" is defined as a failure by the Lessee to observe, comply with or perform any of the terms, covenants, conditions or rules

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applicable to Lessee under this Lease (including, but not limited to, the failure to pay Base Rent or Additional Rent, when due at any time during the Term). A "**Breach**" is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, the failure by Lessee to cure such Default prior to the expiration of the applicable grace period, and shall entitle Lessor to pursue the remedies set forth in Sections 13.2 and/or 13.3:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The vacating of the Premises without the intention to reoccupy same, or the abandonment of the Premises and in each case, failing to pay rent and/or repair and maintain the Premises as required under this Lease.

&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)The failure by Lessee to make any payment of Base Rent or any other monetary payment required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, the failure by Lessee to provide Lessor with reasonable evidence of insurance required under this Lease, where such failure continues for a period of five (5) business days following written notice thereof by or on behalf of Lessor to Lessee.

&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)Except as expressly otherwise provided in this Lease, the failure by Lessee to provide Lessor with reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with Applicable Law per Section 6.3, (ii) the system maintenance contract required under Section 7.1(a), (iii) the rescission of an unauthorized assignment or subletting per Section 12.1(d), (iv) an Estoppel Certificate per Section 16, (v) the subordination or non-subordination of this Lease per Section 30, (vi) the execution of any document requested under Section 42 (easements), or (vii) any other documentation or information which Lessor may reasonably require of Lessee under the terms of this Lease, where any such failure continues for a period of ten (10) business days following written notice by or on behalf of Lessor to Lessee.

&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)A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Section 40 hereof, that are to be observed, complied with or performed by Lessee, other than those described in subsections (a), (b) or (c) above, where such Default continues for a period of thirty (30) days after written notice thereof by or on behalf of Lessor to Lessee; *provided*, *however*, that if the nature of Lessee's Default is such that more than thirty (30) days are reasonably required for its cure, then it shall not be deemed to be a Breach of this Lease by Lessee if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion.

&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)The occurrence of any of the following events: (i) The making of Lessee of any general arrangement or assignment for the benefit of creditors; (ii) Lessee's becoming a "debtor" as defined in 11 U.S.C. § 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within ninety (90) days); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within ninety (90) days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within ninety (90) days; *provided, however*, in the event that any provision of this

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subsections (e) is contrary to any Applicable Law, such provision shall be of no force or effect, and not affect the validity of the remaining 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;(f)The discovery by Lessor that any financial statement given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder was materially and knowingly false and Lessee's failure to correct such information within five (5) business days following written notice by or on behalf of Lessor to Lessee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2**Remedies**. If Lessee fails to perform any affirmative duty or obligation of Lessee under this Lease beyond any applicable notice and cure period, within ten (10) days after written notice to Lessee (or in case of an emergency, without notice), Lessor may at its option (but without obligation to do so), perform such duty or obligation on Lessee's behalf, including but not limited to the obtaining of reasonably required bonds, insurance policies, or governmental licenses, permits or approvals. The costs and expenses of any such performance by Lessor shall be due and payable by Lessee to Lessor upon invoice therefor. If any check given to Lessor by Lessee shall not be honored by the bank upon which it is drawn, Lessor, at its option, may require all future payments to be made under this Lease by Lessee to be made only by cashier's check. In the event of a Breach of this Lease by Lessee, as defined in Section 13.1, with or without further notice or demand, and without limiting Lessor in the exercise of any right or remedy which Lessor may have by reason of such Breach, Lessor may:

&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)Terminate Lessee's right to possession of the Premises by any lawful means, in which case this Lease and the terms hereof shall terminate and Lessee shall immediately surrender possession of the Premises to Lessor. In such event Lessor shall be entitled to recover from Lessee: (i) the worth at the time of the award of the unpaid rent which had been earned at the time of termination; (ii) the worth at the time of 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 Lessee proves could have been reasonably avoided; (i) 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 Lessee proves could be reasonably avoided; and (iii) any other amount necessary to compensate Lessor for all the detriment proximately caused by Lessee's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefor, including but not limited to the cost of recovering possession of the Premises, expenses of reletting to the extent allocable to the remaining Term, including necessary renovation and alteration of the Premises, reasonable attorneys' fees, and that portion of the leasing commission paid by Lessor applicable to the unexpired Term of this Lease. The worth at the time of the amount referred to in provision (iii) of the prior sentence shall be 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. Efforts by Lessor to mitigate damages caused by Lessee's Default or Breach of this Lease shall not waive Lessor's right to recover damages under this Section. If termination of this Lease is obtained through the provisional remedy of unlawful detainer, Lessor shall have the right to recover in such proceeding the unpaid rent and damages as are recoverable therein, or Lessor may reserve therein the right to recover all or any part thereof in a separate suit for such rent and/or damages. If a notice and grace period required under subsections 13.1(b), (c) or (d) was not previously given, a

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notice to pay rent or quit, or to perform or quit, as the case may be, given to Lessee under any statute authorizing the forfeiture of leases for unlawful detainer shall also constitute the applicable notice for grace period purposes required by subsections 13.1(b), (c) or (d). In such case, the applicable grace period under subsections 13.1(b), (c) or (d) and under the unlawful detainer statute shall run concurrently after the one such statutory notice, and the failure of Lessee to cure the Default within the greater of the two such grace periods shall constitute both an unlawful detainer and a Breach of this Lease entitling Lessor to the remedies provided for in this Lease and/or by said statute.

&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)Continue the Lease and Lessee's right to possession in effect (in California under California Civil Code Section 1951.4) after Lessee's Breach and abandonment and recover as it becomes due, provided Lessee has the right to sublet or assign, subject only to reasonable limitations. See Sections 12 and 36 for the limitations on assignment and subletting which limitations Lessee and Lessor agree are reasonable. Acts of maintenance or preservation, efforts to relet the Premises, or the appointment of a receiver to protect Lessor's interest under the Lease, shall not constitute a termination of Lessee's right to possession.

&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)Pursue any other remedy now or hereafter available to Lessor under the laws or judicial decisions of the state wherein the Premises are located.

&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)The expiration or termination of this Lease and/or the termination of Lessee's right to possession shall not relieve Lessee from liability under any indemnity provisions of this Lease as to matters occurring or accruing during the Term or by reason of Lessee's occupancy of the Premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3**Intentionally Deleted**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.4**Late Charges**. Lessee hereby acknowledges that late payment by Lessee to Lessor of rent and other sums due hereunder will cause Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Lessor by the terms of any ground lease, mortgage or trust deed covering the Premises. Accordingly, if any installment of rent or any other sum due from Lessee shall not be received by Lessor or Lessor's designee within five (5) business days after such amount shall be due, then, without any requirement for notice to Lessee, Lessee shall pay to Lessor a late charge equal to ten percent (10%) of such overdue amount; *provided*, *however*, that Lessee shall be entitled to four (4) grace periods (waiver of such late charge) during the Term. The Parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Lessor will incur by reason of late payment by Lessee. Acceptance of such late charge by Lessor shall in no event constitute a waiver of Lessee's Default or Breach with respect to such overdue amount, nor prevent Lessor from exercising any of the other rights and remedies granted hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.5**Breach by Lessor**. Lessor shall not be deemed in breach of this Lease unless Lessor fails within a reasonable time to perform an obligation required to be performed by Lessor. For purposes of this Section 13.5, a reasonable time shall in no event be less than thirty (30) days after receipt by Lessor, and by the holders of any ground lease, mortgage or deed of

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trust covering the Premises whose name and address shall have been furnished Lessee in writing for such purpose, of written notice specifying wherein such obligation of Lessor has not been performed; *provided*, *however*, that if the nature of Lessor's obligation is such that more than thirty (30) days after such notice are reasonably required for its performance, then Lessor shall not be in breach of this Lease if performance is commenced within such thirty (30) -day period and thereafter diligently pursued to completion.

**14Condemnation**. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (all of which are herein called "**Condemnation**"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If in the reasonable judgment of Lessee, the condemnation taking renders the Building or Premises unsuitable for Lessee's use, Lessee may terminate this Lease. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in the same proportion as the rentable floor area of the Premises taken bears to the total rentable floor area of the building located on the Premises. No reduction of Base Rent shall occur if the only portion of the Premises taken is land on which there is no building. In the event that this Lease is not terminated by reason of such condemnation, Lessor shall to the extent of its net severance damages received, over and above the legal and other expenses incurred by Lessor in the condemnation matter, repair any damage to the Premises caused by such condemnation, except to the extent that Lessee has been reimbursed therefor by the condemning authority. Lessee shall be responsible for the payment of any amount in excess of such net severance damages required to complete such repair.

**15Broker's Fee**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1The Brokers(s) names in Section 1.12 are JLL and Newmark

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.2Upon execution of this Lease by both Parties, Lessor shall pay to said Brokers jointly, or in such separate shares as they may mutually designate in writing, a fee as set forth in a separate written agreement between Lessor and said Brokers for brokerage services rendered by said Brokers to Lessor in this transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.3Lessee and Lessor each represent and warrant to the other that it has had no dealings with any person, firm, broker or finder (other than the Brokers, if any named in Section 1.12) in connection with the negotiation of this Lease and/or the consummation of the transaction contemplated hereby, and that no broker or other person, firm or entity other than said named Brokers is entitled to any commission or finder's fee in connection with said transaction. Lessee and Lessor do each hereby agree to indemnify, protect, defend and hold the other harmless from and against liability for compensation or charges which may be claimed by any such unnamed broker, finder or other similar party by reason of any dealings or actions of the Indemnifying Party, including any costs, expenses and attorneys' fees reasonably incurred with respect thereto.

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**16Estoppel Certificates**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1Each Party (as "**Responding Party**") shall within fifteen (15) days after written notice from the other Party (the "**Requesting Party**") execute, acknowledge and deliver to the Requesting Party an estoppel certificate in writing in form similar to the then most current "**Standard Estoppel Certificate - by Lessee**" or "**Standard Estoppel Certificate - by Lessor**," as applicable, published by the American Industrial Real Estate Association.

**17Lessor's Liability**. The term "**Lessor**" as used herein shall mean the owner or owners at the time in question of the fee title to the Premises, or, if this is a sublease, of Lessee's interest in the prior lease. In the event of a transfer of Lessor's title or interest in the Premises or in this Lease, Lessor shall deliver to the transferee or assignee (in cash or by credit) any unused Security Deposit held by Lessor at the time of such transfer or assignment. Except as provided in Section 15, upon such transfer or assignment and assumption of Lessor's obligations hereunder and delivery of the Security Deposit, as aforesaid, the prior Lessor shall be relieved of all liability with respect to the obligations and/or covenants under this Lease thereafter to be performed by Lessor. Subject to the foregoing, the obligations and/or covenants in this Lease to be performed by Lessor shall be binding only upon Lessor as herein above defined.

**18Severability**. The invalidity of any provision of this Lease, as determined by a court of competent jurisdiction, shall in no way affect the validity of any other provision hereof.

**19Interest on Past-Due Obligations**. Any Base Rent payment due Lessor hereunder not received by Lessor within thirty (30) days following the date on which it was due and any other Rent payment due Lessor hereunder not received by Lessor within forty-five (45) days following the date on which it was due, shall bear simple interest from the thirty-first (31st) day and the forty-sixth (46<sup>th</sup>), as applicable, after it was due at the rate of ten percent (10%) per annum, or, if less, the maximum rate permitted by Applicable Law, in addition to the late charge provided for in Section 13.4.

**20Time of Essence**. Time is of the essence with respect to the performance of all obligations to be performed or observed by the Parties under this Lease.

**21Rent Defined**. All monetary obligations of Lessee to Lessor under the terms of this Lease are deemed to be rent.

**22No Prior or Other Agreements**. This Lease contains all agreement between the Parties with respect to any matter mentioned herein, and no other prior or contemporaneous agreement or understanding shall be effective.

**23Notices**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.1All notices required or permitted by this Lease shall be in writing and may be delivered in person (by hand or by messenger or courier service) or may be sent by certified or registered mail or US Postal Service Express Mail, or by Federal Express overnight, next business day delivery, with all postage or delivery charges prepaid, and shall be deemed

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sufficiently given if served in a manner specified in this Section 23. The addresses noted adjacent to a Party's signature on this Lease shall be that Party's address for all notice purposes. Either Party may by written notice to the other specify a different address for notice purposes, except that upon Lessee's taking possession of the Premises, the Premises shall constitute Lessee's address for the purpose of delivering notices to Lessee. A copy of all notices required or permitted to be given to Lessor hereunder shall be concurrently transmitted to such party or parties at such addresses as Lessor may from time to time hereafter designate by written notice to Lessee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.2Any notice sent by overnight courier services (USPS or FedEx type company) or registered or certified mail, return receipt requested, shall be deemed given on the date of delivery shown on the receipt card Notices delivered by United States Express Mail or overnight courier that guarantees next day delivery shall be deemed given twenty-four (24) hours after delivery of the same to the United States Postal Service or courier. If notice is received on a Sunday or legal holiday, it shall be deemed received on the next business day.

**24Waivers**. No waiver of a Default or Breach or other default of any term, covenant or condition hereof by either party, shall be deemed a waiver of any other term, covenant or condition hereof, or of any subsequent Default or Breach of the same or of any other term, covenant or condition hereof. Lessor's consent to, or approval of, any act shall not be deemed to render unnecessary the obtaining of Lessor's consent to, or approval of, any subsequent or similar act by Lessee, or be construed as the basis of an estoppel to enforce the provision or provisions of this Lease requiring such consent. Regardless of Lessor's knowledge of a Default or Breach at the time of accepting rent, the acceptance of rent by Lessor shall not be a waiver of any preceding Default or Breach by Lessee of any provision hereof, other than the failure of Lessee to pay the particular rent so accepted. Any payment given Lessor by Lessee may be accepted by Lessor on account of moneys or damages due Lessor, notwithstanding any qualifying statements or conditions made by Lessee in connection therewith, which such statements and/or conditions shall be of no force or effect whatsoever unless specifically agreed to in writing by Lessor at or before the time of deposit of such payment.

**25Recording**. Either Lessor or Lessee shall, upon request of the other, execute, acknowledge and deliver to the other a short form memorandum of this Lease for recording purposes. The Party requesting recordation shall be responsible for payment of any fees or taxes applicable thereto.

**26No Right To Holdover**. Lessee has no right to retain possession of the Premises or any part thereof beyond the expiration or earlier termination of this Lease. In the event Lessee retains possession of the Premises or any part thereof beyond the expiration or earlier termination of this Lease, the Base Rent shall be increased to one hundred fifty percent (150%) of the Base Rent applicable during the month immediately preceding the expiration or termination. Nothing contained herein shall be construed as consent by Lessor to any holding over by Lessee. Lessee shall be responsible for all actual, direct damages suffered by Lessor for any Lessee holding over without Lessor's written consent. Lessee shall not be liable for punitive, or speculative damages arising from any such holdover.

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**27Cumulative Remedies**. No remedy or election hereunder shall be deemed exclusive but shall, wherever possible, be cumulative with all other remedies at law or in equity.

**28Covenants and Conditions**. All provisions of this Lease to be observed or performed by Lessee are both covenants and conditions.

**29Binding Effect; Choice of Law**. This Lease shall be binding upon the parties, their personal representatives, successors and assigns and be governed by the laws of the State in which the Premises are located. Any litigation between the Parties hereto concerning this Lease shall be initiated in the county in which the Premises are located.

**30Subordination; Attornment; Non-Disturbance**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.1**Subordination**. This Lease and any Option granted hereby shall be subject and subordinate to any ground lease, mortgage, deed of trust, or other hypothecation or security device (collectively, "**Security Device**"), now or hereafter placed by Lessor upon the real property of which the Premises are a part, to any and all advances made on the security thereof, and to all renewals, modifications, consolidations, replacements and extensions thereof. Lessee agrees that the Lenders holding any such Security Device shall have no duty, liability or obligation to perform any of the obligations of Lessor under this Lease, but that in the event of Lessor's default with respect to any such obligation, Lessee will give any Lender whose name and address have been furnished Lessee in writing for such purpose notice of Lessor's default and allow such Lender thirty (30) days following receipt of such notice for the cure of said default before invoking any remedies Lessee may have by reason thereof. If any Lender shall elect to have this Lease and/or any Option granted hereby superior to the lien of its Security Device and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such Security Device, notwithstanding the relative dates of the documentation or recordation thereof. Notwithstanding anything to the contrary in this Lease, prior to the Commencement Date or as soon thereafter as reasonably practical, Lessor shall obtain from any lenders with a Security Device applicable to the Building a written agreement in such lender's standard, industry-typical form reasonably satisfactory to Lessee providing for non-disturbance and recognition of Lessee's interests under this Lease in the event of a foreclosure of the lender's security interest. Further, the subordination of the Lease to an instrument of security shall be conditioned upon Lessee's receipt from any such lenders such non-disturbance and recognition agreement. Lessee and Lessor acknowledge they have negotiated a form of a subordination, non-disturbance and attornment agreement acceptable to both parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.2**Attornment**. Subject to the non-disturbance provisions of Section 30.3, Lessee agrees to attorn to a Lender or any other party who acquires ownership of the Premises by reason of a foreclosure of a Security Device, and that in the event of such foreclosure, such new owner shall not: (i) be liable for any act or omission of any prior Lessor or with respect to events occurring prior to acquisition of ownership, other than ongoing repair and maintenance obligations of Lessor under this Lease, (ii) be subject to any offsets or defenses which Lessee might have against any prior Lessor, other than ongoing repair and maintenance obligations of Lessor under this Lease, or (iii) be bound by prepayment of more than one month's rent.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.3**Non-Disturbance**. With respect to Security Devices entered into by Lessor after the execution of this Lease, Lessee's subordination of this Lease shall be subject to receiving assurance (a "non-disturbance agreement") from the Lender that Lessee's possession and this Lease, including any options to extend the Term, will not be disturbed so long as Lessee is not in Breach hereof and attorns to the record owner of the Premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.4**Self-Executing**. Except as otherwise provided in this Lease, the agreements contained in this Section 30 shall be effective without the execution of any further documents; *provided*, *however*, that, upon written request from Lessor or a Lender in connection with a sale, financing or refinancing of the Premises, Lessee and Lessor shall execute such further writings as may be reasonably required to separately document any such subordination or non-subordination, attornment and/or non-disturbance agreement as is provided for herein.

**31Attorney's Fees**. If any Party brings an action or proceeding to enforce the terms hereof or declare rights hereunder, the Prevailing Party (as hereafter defined) in any such proceeding, action, or appeal thereon, shall be entitled to reasonable attorney's fees. Such fees may be awarded in the same suit or recovered in a separate suit, whether or not such action or proceeding is pursued to decision or judgment. The term, "**Prevailing Party**" shall include, without limitation, a Party who substantially obtains or defeats the relief sought, as the case may be, whether by compromise, settlement, judgment, or the abandonment by the other Party of its claim or defense. The attorney's fee award shall not be computed in accordance with any court fee schedule, but shall be such as to fully reimburse all attorney's fees reasonably incurred. Lessor shall be entitled to attorney's fees, costs and expenses incurred in the preparation and service of notices of Default and consultations in connection therewith, whether or not a legal action is substantially commenced in connection with such Default or resulting Breach.

**32Lessor's Access; Showing Premises; Repairs**. Lessor and Lessor's agents shall have the right to enter the Premises at any time, in the case of an emergency, and otherwise upon twenty four (24) hours' notice to Lessee, for the purpose of showing the same to prospective purchasers, lenders, or, lessees during the last one hundred and eighty (180) days of the Term, and making such alterations, repairs, improvements or additions to the Premises or to the building of which they are a part, as Lessor may reasonably deem necessary. Lessor may at any time place on or about the Premises or building any ordinary "**For Sale**" signs and Lessor may at any time during the last one hundred twenty (120) days of the Term place on or about the Premises any ordinary "**For Lease**" signs. All such activities of Lessor shall be without abatement of rent or liability to Lessee but subject to all terms and conditions of this Lease. Any entry by Lessor and Lessor's agents shall not impair Lessee's operations more than reasonably necessary and shall comply with Lessee's security, confidentiality and safety measures.

**33Auctions**. Lessee shall not conduct, nor permit to be conducted, either voluntarily or involuntarily, any auction upon the Premises without having first having obtained Lessor's prior written consent. Notwithstanding anything to the contrary in this Lease, Lessor shall not be obligated to exercise any standard of reasonableness in determining whether to grant such consent.

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**34Signs**. Lessee shall not place any sign upon the Premises, except that Lessee shall have the right to, subject to Lessor's prior review, install (but not on the roof) a sign on the exterior of the building limited to the brow of the first floor until the Existing Tenant vacates the Building. Thereafter, beginning January 1, 2027 and after the Existing Tenant vacates the Building, Lessee shall have exclusive signage rights to the exterior walls of the Building and otherwise subject to Lessor's rights set forth below. Lessee's exterior signage may be installed on the 444 Townsend Street face of the Building. Lessee is also allowed to install building standard signage at the lobby entrance to the Premises, the placement of which will be subject to Lessor's prior written consent, which shall not be unreasonably withheld. The installation of any sign on the Premises by or for Lessee shall be subject to all of the provisions of Section 7 (Maintenance, Repairs, Utility Installations, Trade Fixtures and Alterations). Subject to Lessee's signage rights described above, Lessor reserves all rights to the use of the roof and the right to install, and all revenues from the installation of, such advertising signs on the Premises and the Building, including the roof and the exterior of the Premises above the height of the first floor, as do not unreasonably interfere with the conduct of Lessee's business or signage. Lessor may grant signage rights to other tenants of the Building or other third parties with respect to all areas other than those specifically granted to Lessee for signage use as described above.

**35Alley**. At such time as the Existing Lease is terminated, Lessee shall have the exclusive right to the alley from Townsend Street to Bluxome Streets of the aforementioned building solely for parking, EV charging and loading of Lessee's personal property; *provided, however*, Lessor reserves the right to allocate one parking space in the alley to a future tenant of the second floor of the Building. Lessee, at Lessee's sole cost, shall have the right to install EV charging stations in such areas mutually agreed to between Lessor and Lessee.

**36Termination; Merger**. Unless specifically stated otherwise in writing by Lessor, the voluntary or other surrender of this Lease by Lessee, the mutual termination or cancellation hereof, or a termination hereof by Lessor for Breach by Lessee, shall automatically terminate any sublease or lesser estate in the Premises; *provided, however*, Lessor shall, in the event of any such surrender, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Lessor's failure within ten (10) days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest, shall constitute Lessor's election to have such event constitute the termination of such interest.

**37Consents**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37.1Except as otherwise provided herein, wherever in this Lease the consent of Lessor is required to an act by or for the Lessee, such consent may be withheld in Lessor's sole and absolute discretion. Lessor shall be under no obligation to consider any consent requested by Lessee unless Lessee is in strict compliance with all applicable provisions of the Lease at the time such request for consent is made by Lessee and the request fee pursuant to Section 12.2 (e) is paid and the Lessor's actual reasonable costs and expenses (including but not limited to architects', attorneys', engineers' or other consultants' fees) incurred in the consideration of, or response to, a request by Lessee for any Lessor consent pertaining to this Lease or the Premises, including but not limited to consents to an assignment, a subletting or the presence or use of a

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Hazardous Substance, practice or storage tank, shall be paid by Lessee to Lessor upon receipt of an invoice and supporting documentation thereof net of the Section 12.2 (e) payment. Lessor's consent to any act, assignment of this Lease or subletting of the Premises by Lessee shall not constitute an acknowledgment that no Default or Breach by Lessee of this Lease exists, nor shall such consent be deemed a waiver of any then existing Default or Breach, except as may be otherwise specifically stated in writing by Lessor at the time of such consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37.2All conditions to Lessor's consent authorized by this Lease are acknowledged by Lessee as being reasonable. The failure to specify herein any particular condition to Lessor's consent shall not preclude the imposition by Lessor at the time of consent of such further or other conditions as are then reasonable with reference to the particular matter for which consent is being given.

**38Quiet Possession**. Provided Lessee is not in Default beyond all applicable notice and cure periods, Lessee shall have quiet possession and enjoyment on a 24/7 use of the Premises for the entire Term subject to all of the provisions of this Lease.

**39Options**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39.1**Definition**. As used in this Lease, the word "**Option**" has only the following meaning: the right to extend the Term of this Lease or to renew this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39.2**Options Personal to Original Lessee**. Each Option granted to Lessee in this Lease is personal to the original Lessee named in Section 1.1 hereof and any Permitted Transferee or Affiliate, and cannot be voluntarily or involuntarily assigned or exercised by any person or entity other than said original Lessee (or Permitted Transferee or Affiliate) while the original Lease is in full and actual possession of the Premises and without the intention of thereafter assigning or subletting. The Options, if any, herein granted to Lessee are not assignable, either as a part of an assignment of this Lease or separately or apart therefrom (except in the event of a Permitted Transfer or transfer to an Affiliate), and no Option may be separated from this Lease in any manner, by reservation or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39.3**Option to renew lease**. Lessor grants the Lessee two (2) options of five (5) years each to renew this Lease under the same terms and conditions except the Base Rent shall be reset to FMV (defined hereafter) of the Premises as of the commencement date of each Option which Lessee may exercise if at all by providing Lessor written notice of its intention to exercise its options ("**Lessee's Notice**") no later than nine (9) months but no more than twelve (12) months prior to expiration of the Lease Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39.4**Multiple Options**. In the event that Lessee has multiple Options to extend or renew this Lease, a later option cannot be exercised unless the prior options to extend or renew this Lease have been validly exercised.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39.5**Effect of Default on 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;(a)Lessee shall have no right to exercise an Option, notwithstanding any provision in the grant of Option to the contrary: (i) during the period commencing with the giving of any notice of Default under Section 13.1 and continuing until the noticed Default is cured, or (ii) during the period of time any monetary obligation due Lessor from Lessee is unpaid (following applicable notice and cure period), or (iii) if Lessee has been in default of any provision of this Lease and received a notice to cure in connection therewith, whether or not cured, more than twice 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)The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's inability to exercise an Option because of the provisions of Section 39.4(a).

&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)Initial rent for the first year of the Option shall be at the fair market value of the Premises ("FMV") as determined by Lessor's Broker. Such determination shall be made on or before thirty (30) days after Lessee's Notice, and Lessor shall notify Lessee of the FMV, in writing. In the event Lessee disagrees with the FMV, then within twenty (20) days after receipt of Lessor's notice of FMV, Lessee must notify Lessor in writing (the "**Notice**"). The following information must be contained in the Notice:

1. That Lessee disagrees with Lessor's determined rental rate.

2. The FMV rental rate as determined by Lessee.

3. Support for Lessee's opinion of the FMV rental rate.

4. A copy of Lessee's Broker's letter of determination of FMV. Said letter shall not only state the FMV, but also clearly state the comparables used in the evaluation and the methodology used to determine the FMV.

If the FMV was not based on a review of similar space in the South of Market area of San Francisco or does not contain a detailed analysis which can be used to support Lessee's Broker's finding, it will be deemed an improper valuation and Lessor's Broker's determination of FMV will be final. Lessee, upon notification that their Broker's valuation is not valid, shall have fifteen (15) business days to either terminate its election to exercise the option or accept Lessor's determination of FMV. In any case, Lessee's Broker must meet the qualifications as defined below. If Lessee fails to notify Lessor that they disagree within the required time period, then Lessor's determination of FMV will be final and will be the rental value for the start of the Option. If Lessee's determination of FMV is performed properly and Lessor disagrees with Lessee's findings, then Lessor has twenty (20) days to notify Lessee that Lessor disagrees. If Lessor fails to notify Lessee in a timely manner, then Lessee's determination of FMV will be final and will be the rental value for the start of the Option. Upon receipt of a timely notice, the party's Brokers will meet in the next ten (10) days to determine if they can agree on the FMV. If either of the Brokers do not make a meeting in that ten-day period for any reason, then the other Broker's valuation will be used as the FMV. If they cannot agree with twenty (20) days of the

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date of the notice, they will appoint a third Broker within thirty (30) days of the date of the notice. This third Broker's determination of FMV will be final and binding on the parties. The parties shall each bear the costs of their own broker. Each of the parties shall bear one half of the cost of appointing the third Broker and of paying the third Broker's fee. All Brokers appointed herein shall have a minimum of five (5) years' experience in commercial real estate appraising in San Francisco and the third Broker shall be a person who has not previously acted in any capacity for either party. The Brokers shall base their appraisal upon a five (5) year lease term and shall consider the highest and best use for the Premises. The Broker(s) shall ignore any and all terms and conditions of the executed lease, including Lessor's right to terminate the Option and shall only base their determination of FMV on the facts as stated above. After the FMV has been set, the parties shall immediately execute an amendment to this Lease stating the FMV.

In the event that the parties have not agreed upon the FMV by the date of commencement of the Option, then Lessee shall pay to Lessor as Base Rent the rental rate as stated in the Lessor's notice. If the Base Rent is later changed as a result of the aforementioned process, the Lessor will reimburse Lessee or Lessee will pay to Lessor the actual difference in the FMV rental rates as determined by the Broker(s). This amount shall be due and payable within fifteen (15) business days of receipt of the final determination notice by the deciding Broker(s).

The minimum monthly rent ("base rent") as hereinabove set forth shall be subject to adjustment on each anniversary date thereafter during the Option, ("the adjustment date") as stated in section 4.1 of this lease.

**40Multiple Buildings**. If the Premises are part of a group of buildings controlled by Lessor, Lessee agrees that it will abide by, keep and observe all reasonable rules and regulations which Lessor may make from time to time for the management, safety, care, and cleanliness of the grounds, the parking and unloading of vehicles and the preservation of good order, as well as for the convenience of other occupants or Lessees of such other buildings and their invitees, and that Lessee will pay its fair share of common expenses incurred in connection therewith.

**41Security Measures**. Lessee hereby acknowledges that the rental payable to Lessor hereunder does not include the cost of guard service or other security measures, and that Lessor shall have no obligation whatsoever to provide same. Subject to Lessor's obligations under this Lease, Lessee assumes all responsibility for the protection of the Premises, Lessee, its agents and invitees and their property from acts of third parties. Lessee has the right to install its proprietary security systems at the entrances to and within its Premises at its sole cost, subject to Lessor's reasonable approval as to installation and related alterations to the Building.

**42Reservations**. Lessor reserves to itself the right, from time to time, to grant, without the consent or joinder of Lessee, such easements, rights and dedications that Lessor deems necessary, and to cause the recordation of parcel maps and restrictions, so long as such easements, rights, dedications, maps and restrictions do not unreasonably interfere with the use of the Premises by Lessee or decrease Lessee's rights or increase Lessee's obligations under this Lease. Lessee agrees to sign any documents reasonably requested by Lessor to effectuate any such easement rights, dedication, map or restrictions.

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**43Performance Under Protest**. If at any time a dispute shall arise as to any amount or sum of money to be paid by one Party to the other under the provisions hereof, the Party against whom the obligation to pay the money is asserted shall have the right to make payment "under protest" and such payment shall not be regarded as a voluntary payment and there shall survive the right on the part of said Party to institute suit for recovery of such sum. If it shall be adjudged that there was no legal obligation on the part of said Party to pay such sum or any part thereof, said Party shall be entitled to recover such sum or so much thereof as it was not legally required to pay under the provisions of this Lease.

**44Authority**. If either Party hereto is a corporation, trust, or general or limited partnership, each Party represents and warrants that individual executing this Lease on behalf of such entity is duly authorized to execute and deliver this Lease on its behalf. If Lessee is a corporation, trust or partnership, Lessee shall, within thirty (30) days after request by Lessor, deliver to Lessor evidence satisfactory to Lessor of such authority.

**45Conflict**. Any conflict between the printed provisions of this Lease and the typewritten or handwritten provisions shall be controlled by the typewritten or handwritten provisions.

**46Offer**. Preparation of this Lease by Lessor or Lessor's agent and submission of same to Lessee shall not be deemed an offer to lease to Lessee. This Lease is not intended to be binding until executed by all Parties hereto.

**47Amendments**. This Lease may be modified only in writing, signed by the parties in interest at the time of the modification. The parties shall amend this Lease from time to time to reflect any adjustments that are made to the Base Rent or other rent payable under this Lease. As long as they do not decrease Lessee's rights or increase Lessee's obligations hereunder, Lessee agrees to make such commercially reasonable non-monetary modifications to this Lease as may be reasonably required by an institutional, insurance company, or pension plan Lender in connection with the obtaining of normal financing or refinancing of the property of which the Premises are a part.

**48Multiple Parties**. Except as otherwise expressly provided herein, if more than one person or entity is named herein as either Lessor or Lessee, the obligations of such multiple parties shall be the joint and several responsibility of all persons or entities named herein as such Lessor or Lessee.

**49Advance Payment of Insurance and Real Property Tax**. In order to insure payment when due and before delinquency of any or all Real Property Taxes (see Section 10) and/or Insurance (See Section 8.1), Lessor reserves the right, at Lessor's option, to estimate the current Real Property Taxes and/or Insurance Premiums applicable to the Premises one time only at the beginning of each calendar year during the Term, and to require such current year's increases to be paid in advance to Lessor by Lessee monthly in advance with the payment of the Base Rent. The monthly payment shall be that equal monthly amount which, over the number of months remaining before the month in which the applicable payment would become delinquent (and without interest thereon), would provide a fund large enough to fully discharge before delinquency the estimated Increases to be paid. No later than thirty (30) days after the end of

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each calendar year, Lessor shall send a reconciliation statement to Lessee detailing all amounts paid by Lessee and all amounts for Real Property Taxes and Insurance owed by Lesse for such prior calendar year, along with all written evidence detailing such costs incurred ("**Lessor's Statement**"). If the amounts paid to Lessor by Lessee for Real Property Taxes and Insurance were less than what Lessee is required to pay under this Lease, Lessee shall pay to Lessor, within thirty (30) days of Lessee's receipt of Lessor's Statement such additional sums as are necessary to pay such obligation. If the amounts paid to Lessor by Lessee for Real Property Taxes and Insurance were greater than what Lessee is required to pay under this Lease, Lessor shall credit such overpaid amounts against the next installment of Base Rent or if at the end of the Term, Lessor shall send such overpaid amount to Lessee within thirty (30) days of Lessee's receipt of Lessor's Statement. Lessee or its authorized representative shall have the right to inspect the books of Lessor, for the purpose of verifying the information contained in Lessor's Statement.

**50Waiver of jury trial. TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, THE PARTIES HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING INVOLVING THE PROPERTY OR ARISING OUT OF THIS AGREEMENT.**

**51Days**. Unless otherwise specifically indicated to the contrary, the work "days" as used in this Lease shall mean and refer to calendar days.

**LESSOR AND LESSEE HAVE CAREFULLY READ AND REVIEWED THIS LEASE AND EACH TERM AND PROVISION HEREIN, AND BY THE EXECUTION OF THIS LEASE SHOW THEIR INFORMED AND VOLUNTARY CONSENT THERETO. THE PARTIES HEREBY AGREE THAT, AT THE TIME THIS LEASE IS EXECUTED, THE TERMS OF THIS LEASE ARE COMMERCIALLY REASONABLE AND EFFECTUATE THE INTENT AND PURPOSE OF LESSOR AND LESSEE WITH RESPECT TO THE PREMISES.**

**IF THIS LEASE HAS BEEN FILLED IN, IT HAS BEEN PREPARED FOR SUBMISSION TO YOUR ATTORNEY FOR HIS APPROVAL. FURTHER, EXPERTS SHOULD BE CONSULTED TO EVALUATE THE CONDITION OF THE PROPERTY AS TO THE POSSIBLE PRESENCE OF ASBESTOS, STORAGE TANKS OR HAZARDOUS SUBSTANCES. NO REPRESENTATION OR RECOMMENDATION IS MADE BY THE REAL ESTATE BROKER(S) OR THEIR AGENTS OR EMPLOYEES AS TO THE LEGAL SUFFICIENCY, LEGAL EFFECT, OR TAX CONSEQUENCES OF THIS LEASE OR THE TRANSACTION TO WHICH IT RELATED; THE PARTIES SHALL RELY SOLELY UPON THE ADVICE OF THEIR OWN COUNSEL AS TO THE LEGAL AND TAX CONSEQUENCES OF THIS LEASE.**

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The parties hereto have executed this Lease at the place on the dates specified above to their respective signatures.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Executed at | Executed at | Phoenix, AZ 85048 | Executed at | Executed at | Las Vegas, Nevada |
| On | 14/11/2025 | 14/11/2025 | On | 17/11/2025 | 17/11/2025 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **LESSOR** | **LESSOR** | **LESSOR** | **LESSEE** | **LESSEE** | **LESSEE** |
| Townsend Street Associates, LLC,<br>a California limited liability company | Townsend Street Associates, LLC,<br>a California limited liability company | Townsend Street Associates, LLC,<br>a California limited liability company | Neutron Holdings, Inc.<br>a Delaware corporation | Neutron Holdings, Inc.<br>a Delaware corporation | Neutron Holdings, Inc.<br>a Delaware corporation |
| By | : /s/ Raymond S. Bregante | : /s/ Raymond S. Bregante | By: | /s/ Ann Gugino | /s/ Ann Gugino |
|  | Name: Raymond S. Bregante | Name: Raymond S. Bregante |  | Name: Ann Gugino | Name: Ann Gugino |
|  | Title: Managing Member | Title: Managing Member |  | Title: CFO | Title: CFO |
| Address: | Address: | 14203 S 12th Place S<br>Phoenix, AZ | Address: | Address: | 85 2nd Street, suite 750<br>San Francisco, California 94105 |
| Telephone: [\*\*\*] or [\*\*\*] | Telephone: [\*\*\*] or [\*\*\*] | Telephone: [\*\*\*] or [\*\*\*] | Telephone: <u>[\*\*\*]</u> | Telephone: <u>[\*\*\*]</u> | Telephone: <u>[\*\*\*]</u> |

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## Exhibit 21.1

**Exhibit 21.1**

**LIST OF NEUTRON HOLDINGS, INC. SUBSIDIARIES\***

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| | |
|:---|:---|
| Name of Subsidiary | Jurisdiction of Incorporation |
| Lime Electric Scooters Rental LLC | Dubai, United Arab Emirates |
| Lime GmBH | Austria |
| Lime K.K. | Japan |
| Lime Network B.V. | Netherlands |
| Lime Network Ltd. | Israel |
| Lime Network NV | Belgium |
| Lime Network Pty Ltd. | Australia |
| Lime SARL | France |
| Lime Technology Inc. | British Columbia, Canada |
| Lime Technology Ltd. | United Kingdom |
| Lime Technology Kft | Hungary |
| Lime Technology S.R.L. | Italy |
| LimeBike Germany GmBh | Germany |
| LimeBike Switzerland AG | Switzerland |

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**\*** The registrant has omitted the names of its subsidiaries that, when considered in the aggregate as a single subsidiary, do not constitute a significant subsidiary as defined in Rule 1-02(w) of Regulation S-X.

## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the use of our report dated March 19, 2026, except for Notes 17 and 18, as to which the date is May 7, 2026, with respect to the consolidated financial statements of Neutron Holdings, Inc., included herein and to the reference to our firm under the heading "Experts" in the prospectus.

/s/ KMPG LLP

San Francisco, California

May 7, 2026

<br>