Document:

Exhibit 10.1

 

Mudrick Capital Acquisition Corporation

527 Madison Avenue, 6th Floor

New York, New York 10022

 

February 12, 2020

 

Cantor Fitzgerald & Co.

As Representative of the several Underwriters

499 Park Avenue

New York, New York 10022

 

Re: Underwriting Agreement

 

Ladies and Gentlemen:

 

Reference is made to
that certain Underwriting Agreement, dated February 7, 2018, by and among Mudrick Capital Acquisition Corporation, a Delaware corporation
(the “Company”), and Cantor Fitzgerald & Co., as representative (the “Representative”)
of the several underwriters named on Schedule A thereto (the “Underwriting Agreement”). Except as otherwise
specifically provided herein, all capitalized terms used in this amendment to the Underwriting Agreement (this “Amendment”)
shall have the meanings ascribed to them in the Underwriting Agreement.

 

In consideration of
the mutual promises and agreements contained in this Amendment, and for other good and valuable consideration, the sufficiency
and adequacy of which is hereby acknowledged, the undersigned hereby agree as follows:

 

		I.	Amendment Regarding Payment of Deferred Underwriting
Commission

 

The Underwriting Agreement
is hereby amended by this Amendment, effective as of the date first listed above, as follows:

 

		1.	The first sentence of Section 1.3 of the Underwriting Agreement is hereby deleted and replaced
with the following:

 

“In
the event that the Company consummates its Business Combination with Hycroft Mining Corporation, a Delaware corporation (“Hycroft”),
as contemplated by that certain Purchase Agreement, dated as of January 13, 2020 (the “Hycroft Purchase Agreement”),
by and among the Company, Mudrick Acquisition Sub, Inc. and Hycroft (such Business Combination, the “Acquisition”),
the Company shall pay, or cause to be paid, to Cantor for its own account upon consummation of the Acquisition, a deferred underwriting
commission of (i) $2,500,000, payable in cash and directly from the Trust Account, (ii) $2,000,000, payable in shares of Common
Stock, valued for these purposes at $10.00 per share and (iii) an amount up to $2,780,000, determined as follows: (A) if Third
Party Equity Value (as defined below) is less than or equal to $75,000,000, an amount payable in Common Stock, valued for these
purposes at $10.00 per share, equal to the product of (x) 2,780,000 and (y) a fraction, the numerator of which is the Third Party
Equity Value and the denominator of which is $75,000,000 or (B) if Third Party Equity Value is greater than $75,000,000, $2,780,000
payable in cash and directly from the Trust Account (collectively, the “Deferred Underwriting Commission”);
provided, however, to the extent Cantor continues to beneficially own and hold for its own account the Specified Shares (as defined
below) on the date of the consummation of the Acquisition (the “Acquisition Closing Date”), (1) the Deferred
Underwriting Commission payable in Common Stock pursuant to clauses (ii) and (iii) above shall be reduced by an amount equal to
the product of (x) $10.00 and (y) the number of Specified Shares beneficially owned and held by Cantor for its own account on the
Acquisition Closing Date, as evidenced by a certificate signed by an authorized officer of Cantor and delivered to the Company
on or prior to the Acquisition Closing Date, and (2) the Deferred Underwriting Commission payable in cash and directly from the
Trust Account pursuant to this sentence shall be increased by such same and equal amount. For purposes of this agreement, the term
 “Third Party Equity Value” shall mean an amount in cash equal to (A) the product of (i) $10.00 and (ii) the
number of IPO Shares minus the number of IPO Shares that Public Stockholders elect to redeem in connection with the consummation
of the Business Combination, plus (B) the gross proceeds received from the sale of Common Stock to Third Party Private Investors
prior to the consummation of the Business Combination (but in no event greater than $75,000,000). For purposes of this Agreement,
 “Third Party Private Investors” shall mean any person other than investment funds affiliated with or managed
by Mudrick Capital Management, L.P., Whitebox Advisors LLC, Highbridge Capital Management, LLC, Aristeia Capital, LLC, Wolverine
Asset Management, LLC and Sprott Inc. For purposes of this Agreement, “Specified Shares” means 200,000 shares
of Common Stock acquired by Cantor and beneficially owned and held by Cantor for its own account as of the date hereof.”

 

     

     

    

 

		2.	Section 3.16 of the Underwriting Agreement is hereby deleted and replaced with the following:

 

“3.16       Payment
of Deferred Underwriting Commission on Business Combination. Upon the consummation of the Company’s initial Business
Combination, the Company agrees that it will cause the Trustee to pay the cash portion of the Deferred Underwriting Commission
directly from the Trust Account to the Representative and deliver the Common Stock portion of the Deferred Underwriting Commission
to Cantor in book entry form, in each case, in accordance with Section 1.3. Any such Common Stock shall be registered in such name
or names as Cantor may request in writing at least two (2) full Business Days prior to the consummation of the initial Business
Combination.”

 

		3.	Notwithstanding the foregoing, if the Hycroft Purchase Agreement is terminated, Section 1.3 and
3.16 will each automatically revert back to their original form in the Underwriting Agreement in respect of any Business Combination
between the Company and a party other than Hycroft.

 

		II.	Company Representations and Covenants

 

The Company represents,
warrants and covenants to Cantor that:

 

a.      
Subject to obtaining all required approvals necessary in connection with the performance of the Hycroft Purchase Agreement
(including, without limitation the approval of the Company's stockholders) (together, the “Required Approvals”),
the Company has all requisite corporate power and authority to deliver and perform its obligations under this Amendment.

 

b.     
Subject to obtaining the Required Approvals, the Common Stock issued as part of the Deferred Underwriting Commission (the
 “Deferred Commission Shares”) have been duly authorized and, when issued and delivered to Cantor against
receipt of full consideration therefor in accordance with the terms of the Underwriting Agreement, as amended by this Amendment,
the Deferred Commission Shares will be validly issued, fully paid and non-assessable.

 

c.      
Subject to obtaining the Required Approvals, this Amendment has been duly authorized, executed and delivered by the Company,
and assuming that Amendment constitutes the valid and binding agreement of the Representative and the Underwriters, is the valid
and binding obligations of the Company, enforceable against it in accordance with its terms, except as may be limited or otherwise
affected by (i) applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to
or affecting the rights of creditors generally, and (ii) principles of equity, whether considered at law or equity.

 

d.     
Any “Common Stock” issued to Cantor pursuant to the Amendment will be subject to registration rights on substantially
the same terms as set forth in the form of Amended and Restated Registration Rights Agreement among the Company, Cantor and the
other parties thereto attached to the Hycroft Purchase Agreement.

 

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		III.	Cantor Representations and Warranties

 

Cantor represents and
warrants to the Company that:

 

a.      
At the time Cantor was offered the Deferred Commission Shares, it was, and as of the date hereof, Cantor is an institutional
 “accredited investor” (within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Act), (ii) is acquiring the
Deferred Commission Shares only for its own account and (iii) not for the account of others, and not on behalf of any other account
or person or entity or with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Act.

 

b.     
Cantor understands that the Deferred Commission Shares are being offered in a transaction not involving any public offering
within the meaning of the Act and that the Deferred Commission Shares delivered at the Closing have not been registered under the
Act.

 

c.      
Cantor understands that the Deferred Commission Shares may not be resold, transferred, pledged or otherwise disposed of
by Cantor absent an effective registration statement under the Act, except (i) to the Company or a subsidiary thereof, (ii) to
non-U.S. persons pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the
Act or (iii) pursuant to another applicable exemption from the registration requirements of the Act, and that any certificates
representing the Deferred Commission Shares shall contain a legend to such effect. Cantor acknowledges that the Deferred Commission
Shares will not be eligible for resale pursuant to Rule 144A promulgated under the Act. Cantor understands and agrees that the
Deferred Commission Shares will be subject to transfer restrictions and, as a result of these transfer restrictions, Cantor may
not be able to readily resell the Deferred Commission Shares and may be required to bear the financial risk of an investment in
the Deferred Commission Shares for an indefinite period of time. Cantor understands that it has been advised to consult legal counsel
prior to making any offer, resale, pledge or transfer of any of the Deferred Commission Shares.

 

d.     
Cantor acknowledges that there have been no representations, warranties, covenants and agreements made to Cantor by the
Company, or any of their respective officers or directors, expressly (other than those representations, warranties, covenants and
agreements included in this Amendment) or by implication.  In making its decision to acquire the Deferred Commission Shares,
Cantor has relied solely upon independent investigation made by Cantor and the representations and warranties of the Company set
forth herein.

 

e.      
Cantor acknowledges its obligations under applicable securities laws with respect to the treatment of non-public information
relating to the Company.

 

f.       
As of the date hereof, Cantor beneficially owns and holds for its own account 200,000 shares of Common Stock (the “Specified
Shares”). Cantor acknowledges that any shares of Common Stock acquired after the date hereof shall not be considered
Specified Shares for purposes of this Amendment or the Underwriting Agreement.

 

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		IV.	Miscellaneous

 

Except as expressly
provided in this Amendment, all of the terms and provisions in the Underwriting Agreement are and shall remain in full force and
effect, on the terms and subject to the conditions set forth therein.  This Amendment does not constitute, directly or by
implication, an amendment, modification or waiver of any provision of the Underwriting Agreement, or any other right, remedy, power
or privilege of any party to the Underwriting Agreement, except as expressly set forth herein.  Any reference to the Underwriting
Agreement in the Underwriting Agreement or any other agreement, document, instrument or certificate entered into or issued in connection
therewith shall hereinafter mean the Underwriting Agreement, as amended or modified by this Amendment (or as the Underwriting Agreement
may be further amended or modified after the date hereof in accordance with the terms thereof).  The Underwriting Agreement,
as amended and modified by this Amendment, together with the other agreements and documents delivered pursuant to or in connection
with the Underwriting Agreement, constitutes the entire agreement between the parties with respect to the subject matter of the
Underwriting Agreement, as amended by this Amendment, and supersedes all prior agreements and understandings, both oral and written,
between the parties with respect to its subject matter.  The provisions of Section 10 of the Underwriting Agreement (other
than Section 10.4) are hereby incorporated herein by reference and apply to this Amendment as if all references to the “Agreement”
contained therein were instead references to this Amendment.  The terms of this Amendment shall be interpreted, enforced,
governed by and construed in a manner consistent with the provisions of the Underwriting Agreement.

 

[Signature Page Follows]

 

 

 

 

 

 

 

 

 

 

 

 

 

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If the foregoing is
in accordance with your understanding of our agreement, kindly indicate your acceptance in the space provided for that purpose
below, whereupon it will become a binding agreement among the Company and the several Underwriters in accordance with its terms.

 

 

	 	Very truly yours,	 
	 	 	 
	 	MUDRICK CAPITAL ACQUISITION CORPORATION
	 	 
	 	By:	/s/ Jason Mudrick	 
	 	 	Name:  Jason Mudrick	 
	 	 	Title:  Chief Executive Officer	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    
[SIGNATURE PAGE TO UNDERWRITING AGREEMENT AMENDMENT]

     

    

 

The foregoing Amendment

is hereby confirmed and accepted as

of the date first above written.

 

CANTOR FITZGERALD & CO., as

Representative of the several Underwriters

 

 

	By:	/s/ Shawn P. Matthews	 
	 	Name:  Shawn P. Matthews	 
	 	Title:  CEO	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    
[SIGNATURE PAGE TO UNDERWRITING AGREEMENT AMENDMENT]EX-4.2

 Exhibit 4.2 

Execution Version 
  

 
  
  

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 
  

 Execution Version 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Agreement”), is made as of the 15th day of March, 2019 by
and among IMARA Inc., a Delaware corporation (the “Company”), each of the investors listed on Schedule A hereto, each of which is referred to in this Agreement as an “Investor”, and any additional purchasers
that becomes a party to this Agreement in accordance with Section 6.9 hereof, and for purposes of Sections 1, 3.1, 3.2, 3.4(b), 3.6 and 4, H. Lundbeck A/S (“Lundbeck”). 

RECITALS 

WHEREAS, certain of the Investors (the “Prior Investors”) are holders of outstanding shares of the Company’s
Series Seed Preferred Stock, $0.001 par value per share (the “Series Seed Preferred Stock”), and Series A Preferred Stock, $0.001 par value per share (the “Series A Preferred Stock”), and have been granted
information rights, participation rights and other rights pursuant to that certain Investors’ Rights Agreement, dated as of April 13, 2016, by and between the Company, the Prior Investors and the other parties thereto (the “Prior
Rights Agreement”); 
 WHEREAS, certain of the Investors (the “Series B Investors”) have agreed to purchase
shares of the Company’s Series B Preferred Stock, $0.001 par value per share (the “Series B Preferred Stock”), pursuant to a Series B Preferred Stock Purchase Agreement by and among the Company and the Series B Investors of
even date herewith (the “Purchase Agreement”); 
 WHEREAS, the obligations of the Company and the Series B Investors
under the Purchase Agreement are conditioned on, among other things, the execution and delivery of this Agreement by the parties hereto; and 

WHEREAS, the Company and the Investors desire to enter into this Agreement in order to amend and restate the Prior Rights Agreement and
to grant the Prior Investors and the Series B Investors the rights set forth in this Agreement, subject to the obligations set forth herein. 

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises hereinafter set forth, the parties hereto hereby
agree as follows: 
 1.    Definitions. For purposes of this Agreement: 

1.1    “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 parent or subsidiary of such specified Person, any partner (general partner or limited partner), member, manager, employee,
officer or director of such Person or any venture capital fund now or hereafter existing that is controlled by one or more partners, members, managers or employees of, or shares the same management company with, such Person; any wholly owned
subsidiary of such Person; or any direct or indirect wholly owned subsidiary of the ultimate parent entity of such Person. 

1.2    “Common Stock” means shares of the Company’s Class A Common Stock, par value $0.001 per
share. 

  
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 1.3    “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 a business that is actively researching, developing or commercializing a PDE9
Inhibitor or other product in the Field, but shall not include any financial investment firm or collective investment vehicle that, together with its Affiliates, holds an equity interest in any Competitor and has not designated (and does not
hereafter designate) any person as a member of the board of directors or a board observer of such Competitor. 

1.4    “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. 

1.5    “Derivative Securities” means any securities or rights convertible into, or exercisable or
exchangeable for (in each case, directly or indirectly), Common Stock, including options and warrants. 

1.6    “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder. 
 1.7    “Excluded Registration” means (i) a registration
relating to the sale of securities to employees of the Company or a subsidiary pursuant to a stock option, stock purchase, 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. 
 1.8    “Exclusive
License Agreement” means the Exclusive License Agreement, dated as of April 13, 2016, by and between the Company and Lundbeck. 

1.9    “Field” means prevention, treatment or diagnosis of disorders and/or diseases related to
Hemoglobinopathies (HGP), including Sickle Cell Disease. 
 1.10    “FOIA Party” means a Person that,
in the reasonable determination of the Board of Directors, may be subject to, and thereby required to disclose non-public information furnished by or relating to the Company under, the Freedom of Information
Act, 5 U.S.C. 552 (“FOIA”), any state public records access law, any state or other jurisdiction’s laws similar in intent or effect to FOIA, or any other similar statutory or regulatory requirement. 

  
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 1.11    “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. 

1.12    “Form S-3” means such form under the Securities Act as in
effect on the date hereof or any registration form under the Securities Act subsequently adopted by the SEC that permits incorporation of substantial information by reference to other documents filed by the Company with the SEC. 

1.13    “GAAP” means generally accepted accounting principles in the United States. 

1.14    “Holder” means any holder of Registrable Securities who is a party to this Agreement. 

1.15    “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. 

1.16    “Initiating Holders” means, collectively, Holders who properly initiate a registration request
under this Agreement. 
 1.17    “IPO” means the Company’s first underwritten public offering of
its Common Stock under the Securities Act. 
 1.18    “Key Employee” 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 Company Intellectual Property. 

1.19    “Major Investor” means (i) any Investor that, individually or together with such
Investor’s Affiliates, holds at least [2,500,000] shares of Registrable Securities (as adjusted for any stock splits, stock dividend, combination, or other recapitalization or reclassification effected after the date hereof), (ii) Alexandria
Equities No. 3, LLC (“ARE”), for so long as ARE continues to hold all of the Registrable Securities previously purchased by ARE, (iii) Lundbeck, for so long as Lundbeck continues to hold all of the shares of capital stock
issued to Lundbeck in accordance with Section 4.2(a) of the Exclusive License Agreement and (iv) Blackwell Partners LLC — Series A (“Blackwell”), for so long as Blackwell continues to hold all of the Registrable
Securities purchased by Blackwell pursuant to the Purchase Agreement. 
 1.20    “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. 
 1.21    “Person” means any individual,
corporation, partnership, trust, limited liability company, association or other entity. 

  
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 1.22    “Preferred Director” means any director of the
Company that the holders of record of any series of Preferred Stock, voting separately as a separate class, are entitled to elect pursuant to the Company’s Restated Certificate. 

1.23    “Preferred Stock” means collectively, shares of the Series Seed Preferred Stock, the Series A
Preferred Stock and the Series B Preferred Stock. 
 1.24    “Registrable Securities” means
(i) the Common Stock issuable or issued upon conversion of the Preferred Stock, excluding any Common Stock issued upon conversion of the Preferred Stock pursuant to Section 4.1.1(a) of Part B of Article Fourth of the Restated Certificate;
(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, acquired by the Investors after the date hereof; and (iii) any Common Stock
issued as (or issuable upon the conversion or exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the shares referenced in clauses
(i) and (ii) 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 Subsection 6.1, and
excluding for purposes of Section 2 any shares for which registration rights have terminated pursuant to Subsection 2.13 of this Agreement. 

1.25    “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. 

1.26    “Restated Certificate” means the Company’s Second Amended and Restated Certificate of
Incorporation, as amended and/or restated from time to time. 
 1.27    “Restricted Securities” means
the securities of the Company required to be notated with the legend set forth in Subsection 2.12(b) hereof. 

1.28    “SEC” means the Securities and Exchange Commission. 

1.29    “SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act. 

1.30    “SEC Rule 145” means Rule 145 promulgated by the SEC under the Securities Act. 

1.31    “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder. 
 1.32    “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 Subsection 2.6. 

  
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 1.33    “Series A Purchase Agreement” means that
certain Series A Preferred Stock Purchase Agreement, dated as of April 13, 2016, by and among the Company and certain of the Investors. 

2.    Registration Rights. The Company covenants and agrees as follows: 

2.1    Demand Registration. 

(a)    Form S-1 Demand. If at any time after the earlier of (i) three
(3) 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 having an aggregate offering price, net of Selling Expenses, that would exceed $10 million, 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 Subsections 2.1(c) and 2.3. 
 (b)    Form S-3 Demand. 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 twenty percent (20%) 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 $1 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 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 Subsections 2.1(c) and 2.3. 

(c)    Notwithstanding the foregoing obligations, if the Company furnishes to Holders requesting a registration pursuant
to this Subsection 2.1 a certificate signed by the Company’s chief executive officer stating that in the good faith judgment of the Company’s 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 

  
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Company shall have the right to defer taking action with respect to such filing for a period of not more than one hundred twenty (120) days after the request of the Initiating Holders is
given; provided, however, that the Company may not invoke this right more than once in any twelve (12) month period; and provided further 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. 

(d)    The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to
Subsection 2.1(a) (i) during the period that is sixty (60) days before the Company’s good faith estimate of the date of filing of, and ending on a date that is one hundred eighty (180) days after the effective date of, a
Company-initiated registration, provided that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; (ii) after the Company has effected two registrations
pursuant to Subsection 2.1(a); 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 Subsection 2.1(b). The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Subsection 2.1(b) (i) during the period that is thirty (30) days before the
Company’s good faith estimate of the date of filing of, and ending on a date that is ninety (90) days after the effective date of, a Company-initiated registration, provided that the Company is actively employing in good faith
commercially reasonable efforts to cause such registration statement to become effective; or (ii) if the Company has effected two registrations pursuant to Subsection 2.1(b) 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 Subsection 2.1(d) 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 Subsection 2.6, in which case such withdrawn
registration statement shall be counted as “effected” for purposes of this Subsection 2.1(d). 

2.2    Company Registration. 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 Subsection 2.3,
cause to be registered all of the Registrable Securities that each such Holder has requested to be included in such registration. The Company shall have the right to terminate or withdraw any registration initiated by it under this Subsection
2.2 before the effective date of such registration, whether or not any Holder has elected to include Registrable Securities in such registration. The expenses (other than Selling Expenses) of such withdrawn registration shall be borne by the
Company in accordance with Subsection 2.6. 
 2.3    Underwriting Requirements. 

(a)    If, pursuant to Subsection 2.1, the Initiating Holders intend to distribute the Registrable Securities
covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to Subsection 2.1, and the 

  
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Company shall include such information in the Demand Notice. The underwriter(s) will be selected by the Initiating Holders, subject only to the reasonable approval of the Company. 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 Subsection 2.4(e)) enter into an underwriting agreement in customary
form with the underwriter(s) selected for such underwriting. Notwithstanding any other provision of this Subsection 2.3, if the underwriter(s) advise(s) the Initiating Holders in writing that marketing factors require a limitation on the
number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of Registrable Securities that otherwise would be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the
underwriting shall be allocated among such Holders of Registrable Securities, including the Initiating Holders, in proportion (as nearly as practicable) to the number of Registrable Securities owned by each Holder or in such other proportion as
shall mutually be agreed to by all such selling Holders; provided, however, 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. 
 (b)    In connection with any offering involving an underwriting of shares
of the Company’s capital stock pursuant to Subsection 2.2, the Company shall not be required to include any of the Holders’ Registrable Securities in such underwriting unless the Holders accept the terms of the underwriting as
agreed upon between the Company and its underwriters, 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.
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-five percent (25%) 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 Subsection 2.3(b) 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

  
 7 

 
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. 
 (c)    For purposes of Subsection 2.1, a registration shall not be counted as
“effected” if: (i) as a result of an exercise of the underwriter’s cutback provisions in Subsection 2.3(a), 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 or (ii) such registration is not closed, unless withdrawn at the request of the Initiating Holders (other than as a result of a material adverse change to the Company). 

2.4    Obligations of the Company. Whenever required under this Section 2 to effect the
registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible: 

(a)    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; provided, however, 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, and (ii) in the case of any
registration of Registrable Securities on Form S-3 that are intended to be offered on a continuous or delayed basis, subject to compliance with applicable SEC rules, such one hundred twenty (120) day
period shall be extended for up to an additional one hundred twenty (120) days, if necessary, to keep the registration statement effective until all such Registrable Securities are sold; 

(b)    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; 

(c)    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; 

(d)    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; provided 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; 

  
 8 

 (e)    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; 

(f)    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; 

(g)    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; 

(h)    promptly make available for inspection by the selling Holders, any 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; 

(i)    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 

(j)    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. 
 2.5    Furnish Information. It shall
be a condition precedent to the obligations of the Company to take any action pursuant to this Section 2 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. 

2.6    Expenses of Registration. All expenses (other than Selling Expenses) incurred in connection with
registrations, filings, or qualifications pursuant to Section 2, including all registration, filing, and qualification fees; printers’ and accounting fees; fees and disbursements of counsel for the Company; and the
reasonable fees and disbursements of one counsel for the selling Holders (“Selling Holder Counsel”), shall be borne and paid by the Company; provided, 

  
 9 

 
however, that the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant to Subsection 2.1 if the registration request is subsequently
withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case all selling Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be included in the
withdrawn registration), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to one registration pursuant to Subsections 2.1(a) or 2.1(b), as the case may be; provided further 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 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 Subsections 2.1(a) or 2.1(b). All Selling
Expenses relating to Registrable Securities registered pursuant to this Section 2 shall be borne and paid by the Holders pro rata on the basis of the number of Registrable Securities registered on their behalf. 

2.7    Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or
otherwise delaying any registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 

2.8    Indemnification. If any Registrable Securities are included in a registration statement under this
Section 2: 
 (a)    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; provided, however, that the indemnity agreement
contained in this Subsection 2.8(a) 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. 
 (b)    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

  
 10 

 
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; provided, however, that the indemnity agreement contained
in this Subsection 2.8(b) 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 provided further
that in no event shall the aggregate amounts payable by any Holder by way of indemnity or contribution under Subsections 2.8(b) and 2.8(d) 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. 
 (c)    Promptly after receipt by
an indemnified party under this Subsection 2.8 of notice of the commencement of any action (including any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect
thereof is to be made against any indemnifying party under this Subsection 2.8, give the indemnifying party notice of the commencement thereof. The indemnifying party shall have the right to participate in such action and, to the extent the
indemnifying party so desires, participate jointly with any other indemnifying party to which notice has been given, and to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, 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. 
 (d)    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 Subsection 2.8 but it is judicially determined (by the entry of a final judgment or decree by a court
of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact that this Subsection 2.8 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 Subsection 2.8, then, and in each such case, such parties will
contribute to the aggregate losses, claims, damages, liabilities, or expenses to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of each of the indemnifying party and the
indemnified party in connection with the statements, omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable considerations. The relative fault of the
indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates to
information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided, however,
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 

  
 11 

 
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 provided further that in no event shall a Holder’s liability pursuant to this Subsection 2.8(c), when combined with the amounts paid
or payable by such Holder pursuant to Subsection 2.8(d), 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. 

(e)    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. 

(f)    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 Subsection 2.8 shall survive the completion of any offering of Registrable Securities in a registration under this Section 2, and otherwise shall
survive the termination of this Agreement. 
 2.9    Reports Under Exchange Act. 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: 
 (a)    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; 

(b)    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 

(c)    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); (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company; and (iii) such
other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC that permits the selling of any such securities without registration (at any time after the Company has become subject to the reporting
requirements under the Exchange Act) or pursuant to Form S-3 (at any time after the Company so qualifies to use such form). 

  
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 2.10    Limitations on Subsequent Registration Rights. 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 (i) would allow such holder or prospective holder to include such securities in any registration unless, under the terms of such agreement, such holder or prospective holder may include such securities in any such
registration only to the extent that the inclusion of such securities will not reduce the number of the Registrable Securities of the Holders that are included; or (ii) allows such holder or prospective holder to initiate a demand for
registration of any securities held by such holder or prospective holder; provided that this limitation shall not apply to any additional Investor who becomes a party to this Agreement in accordance with Subsection 6.9. 

2.11    “Market Stand-off’ Agreement. 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 for its own behalf 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, 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 FINRA Rule 2711(f)(4) or NYSE Rule 472(f)(4), 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 Subsection 2.11 shall apply only to the IPO, and shall not apply to (a) the sale of any shares to an underwriter pursuant to an underwriting agreement, (b) a
transfer to an Affiliate of the Holder, regardless of whether such transfer is for consideration, or (c) the transfer of any shares to any trust for the direct or indirect benefit of the Holder or the immediate family of the Holder, provided
that the trustee of the trust agrees to be bound in writing by the restrictions set forth herein, and provided further that any such transfer shall not involve a disposition for 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 Subsection 2.11 and shall have the
right, power and authority to enforce the provisions hereof as though they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in connection with such registration that are
consistent with this Subsection 2.11 or that are necessary to give further effect thereto. Any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters shall apply pro rata to
all Holders subject to such agreements, based on the number of shares subject to such agreements. 

  
 13 

 2.12    Restrictions on Transfer. 

(a)    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 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. 
 (b)    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 Subsection 2.12(c)) 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. 
 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 Subsection 2.12. 

(c)    The holder of such Restricted Securities, by acceptance of ownership thereof, agrees to comply in all respects
with the provisions of this Section 2. 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 

  
 14 

 
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; (y) in any transaction in which such Holder distributes Restricted Securities to an Affiliate of such Holder; or (z) by a holder exercising its co-sale rights under the
Amended and Restated Right of First Refusal and Co-Sale Agreement by and among the Company, Investors and Key Holders (as defined therein), dated as of even date herewith, as amended from time to time;
provided that each transferee agrees in writing to be subject to the terms of this Subsection 2.12. 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 Subsection 2.12(b), 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. 

2.13    Termination of Registration Rights. The right of any Holder to request registration or inclusion of
Registrable Securities in any registration pursuant to Subsections 2.1 or 2.2 shall terminate upon the earliest to occur of: 

(a)    the five (5) year anniversary of the IPO; 

(b)    with respect to any holder of registration rights, at such time following an IPO as the holder and its Affiliates
hold less than one percent (1%) of the outstanding securities of the Company and all Registrable Securities of such holder and its Affiliates may be sold within a three (3) month period pursuant to SEC Rule 144; or 

(c)    the closing of a Deemed Liquidation Event (as defined in the Restated Certificate). 

3.    Information and Observer Rights. 

3.1    Delivery of Financial Statements. The Company shall deliver to each Major Investor: 

(a)    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 Subsection 3.1(d)) 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 

  
 15 

 
of such year, all such financial statements shall be audited, certified by independent public accountants of nationally recognized standing selected by the Company and prepared in accordance with
GAAP; 
 (b)    as soon as practicable, but in any event within forty-five (45) days after the end of each of the
first three (3) quarters 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); 
 (c)    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); 

(d)    as soon as practicable, but in any event thirty (30) days before the end of each fiscal year, a copy of the
Company’s annual operating plan for the next fiscal year (collectively, the “Budget”), 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; 
 (e)    with respect to the financial
statements called for in Subsection 3.1(a), Subsection 3.1(b) and Subsection 3.1(c), an instrument executed by the chief financial officer and chief executive officer of the Company certifying that such financial statements were
prepared in accordance with GAAP consistently applied with prior practice for earlier periods (except as otherwise set forth in Subsection 3.1(b) and Subsection 3.1(c)) and fairly present the financial condition of the Company and its
results of operation for the periods specified therein; 
 (f)    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; provided, however, that the Company shall not be obligated under this Subsection 3.1 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 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 Subsection 3.1 to the contrary, the Company
may cease providing the information set forth in this Subsection 3.1 during the period starting with the date sixty (60) days before the Company’s good-faith estimate of the date of filing of a registration

  
 16 

 
statement if it reasonably concludes it must do so to comply with the SEC rules applicable to such registration statement and related offering; provided that the Company’s covenants under
this Subsection 3.1 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. 

3.2    Delivery of Statement of Outstanding Capital Stock. As soon as practicable, but in any event within
forty-five (45) days after the end of each of the first three (3) quarters of each fiscal year of the Company, the Company shall deliver to each Major Investor a statement showing the number of shares of each class and series of capital
stock and securities convertible into or exercisable for shares of capital stock outstanding at the end of the period, the Common Stock issuable upon conversion or exercise of any outstanding securities convertible or exercisable for Common Stock
and the exchange ratio or exercise price applicable thereto, and the number of shares of issued stock options and stock options not yet issued but reserved for issuance, if any, all in sufficient detail as to permit the Major Investors to calculate
their respective percentage equity ownership in the Company, and certified by the chief financial officer or chief executive officer of the Company as being true, complete, and correct. 

3.3    Inspection. The Company shall permit each Major Investor, 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; provided, however, that the Company shall not be obligated pursuant to this Subsection 3.3 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. 

3.4    Observer Rights. 

(a)    As long as ARE owns all of the shares of the Series A Preferred Stock it purchased under the Series A Purchase
Agreement (or an equivalent amount of Common Stock issued upon conversion thereof), all of the shares of Series B Preferred Stock it purchased pursuant to the Purchase Agreement and all of the shares of capital stock it purchases in any future
financings of the Company, the Company shall invite a representative of ARE to attend all meetings of its Board of Directors in a non-voting 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; provided, however, 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 provided further, 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. Notwithstanding the foregoing, this Section 3.4(a) shall terminate and be of no further force and effect upon the automatic conversion of any shares
of Preferred Stock owned by ARE pursuant to Section 6.1 of the Purchase Agreement and in accordance with Section 4.1.1(a) of Part B of Article Fourth of the Restated Certificate. 

  
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 (b)    For so long as Lundbeck owns of record at least fifty percent
(50%) of the shares of capital stock issued to Lundbeck in accordance with Section 4.2 of the Exclusive License Agreement, the Company shall invite a designee of Lundbeck to attend all meetings of the Board of Directors or any committee thereof
in a non-voting observer capacity and, in this respect, shall give such designee 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; provided, however, that such representatives shall agree to hold in confidence and trust and to act in a fiduciary manner with respect to all information so provided, it being understood that such
representative may disclose the information so provided to Lundbeck without being considered in violation of this provision, and shall, as a condition to their attendance at meetings of the Board of Directors or any committee thereof and receipt of
information and materials hereunder, sign a confidentiality agreement with the Company in such form as the Company may reasonably request; and provided further, that the Company reserves the right to withhold any information and to
exclude such representatives from any meeting or portion thereof (i) if access to such information or attendance at such meeting could adversely affect the attorney-client privilege between the Company and its counsel (on the advice of
Lundbeck’s counsel), would result in disclosure of trade secrets to persons or parties other than such designee or Lundbeck or would cause a conflict of interest, or (ii) if such designee or Lundbeck is a Competitor of the Company. 

(c)    As long as Arix Bioscience Holdings Limited (“Arix”) or any of its Affiliates own any shares of
Series B Preferred Stock (or any Common Stock issued upon conversion thereof, other than pursuant to Section 4.1.1(a) of Part B of Article Fourth of the Restated Certificate), the Company shall invite a representative of Arix to attend all
meetings of its Board of Directors in a non-voting 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; provided, however, 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 provided further, 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. Notwithstanding the foregoing, this Section 3.4(c) shall terminate and be of no further force
and effect upon the automatic conversion of any shares of Preferred Stock owned by Arix or its Affiliates pursuant to Section 6.1 of the Purchase Agreement and in accordance with Section 4.1.1(a) of Part B of Article Fourth of the Restated
Certificate. 
 (d)    As long as OrbiMed Private Investments VII, LP (“OrbiMed”) or any of its
Affiliates own any shares of Series B Preferred Stock (or any Common Stock issued upon conversion thereof, other than pursuant to Section 4.1.1(a) of Part B of Article Fourth of the Restated Certificate), the Company shall invite a
representative of OrbiMed to attend all meetings of its Board of Directors in a non-voting 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; provided, however, 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 provided further, that the Company reserves the right to withhold any information and to exclude such representative from 

  
 18 

 
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. Notwithstanding the foregoing, this Section 3.4(d) shall terminate and be of no further force and effect upon the automatic conversion of any shares of Preferred Stock owned by OrbiMed or
its Affiliates pursuant to Section 6.1 of the Purchase Agreement and in accordance with Section 4.1.1(a) of Part B of Article Fourth of the Restated Certificate. 

(e)    As long as RA Capital Healthcare Fund, L.P. (“RA Capital”) or any of its Affiliates own any
shares of Series B Preferred Stock (or any Common Stock issued upon conversion thereof, other than pursuant to Section 4.1.1(a) of Part B of Article Fourth of the Restated Certificate), the Company shall invite a representative of RA Capital to
attend all meetings of its Board of Directors in a non-voting 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; provided, however, 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 provided further, 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. Notwithstanding the foregoing, this Section 3.4(e) shall terminate and be
of no further force and effect upon the automatic conversion of any shares of Preferred Stock owned by RA Capital or its Affiliates pursuant to Section 6.1 of the Purchase Agreement and in accordance with Section 4.1.1(a) of Part B of
Article Fourth of the Restated Certificate. 
 3.5    Termination of Information and Observer Rights. The
covenants set forth in Subsections 3.1, 3.2, 3.3, and 3.4 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, whichever occurs first. 

3.6    Confidentiality. Each Investor and Lundbeck agrees that such Investor and Lundbeck 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 Subsection 3.6 by such Investor or Lundbeck), (b) is or
has been independently developed or conceived by the Investor or Lundbeck without use of the Company’s confidential information, or (c) is or has been made known or disclosed to the Investor or Lundbeck by a third party without a breach of
any obligation of confidentiality such third party may have to the Company; provided, however, that an Investor or Lundbeck 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 or Lundbeck, if such prospective
purchaser agrees to be bound by the provisions of this Subsection 3.6; (iii) to any existing or prospective Affiliate, partner, member, 

  
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stockholder, parent or wholly owned subsidiary of such Investor or Lundbeck in the ordinary course of business, provided that such Investor or Lundbeck 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, provided that the Investor or Lundbeck promptly notifies the Company of such disclosure
and takes reasonable steps to minimize the extent of any such required disclosure. For the avoidance of doubt, nothing in this Subsection 3.6 shall restrict the right of an Investor to disclose or divulge any such confidential information to
its directors, managers and officers. 
 4.    Rights to Future Stock Issuances. 

4.1    Right of First Offer. Subject to the terms and conditions of this Subsection 4.1 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, (ii) its Affiliates and (iii) its beneficial interest holders, such as limited partners, members or any other Person having “beneficial ownership,” as such term is
defined in Rule 13d-3 promulgated under the Exchange Act, of such Major Investor (“Investor Beneficial Owners”); provided that each such Affiliate or Investor Beneficial Owner
(x) is not a FOIA Party, unless such party’s purchase of New Securities is otherwise consented to by the Board of Directors, (y) agrees to enter into this Agreement and each of the Second Amended and Restated Voting Agreement (the
“Voting Agreement”) and the Amended and Restated 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 (provided that any FOIA Party shall not be entitled to any rights as a Major Investor under Subsections 3.1, 3.3, 3.4 and 4.1 hereof). 

(a)    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 New Securities to be offered, and (iii) the price and terms, if any, upon which it proposes to offer such New Securities. 

(b)    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 Common Stock then held by such Major Investor (including all
shares of Common Stock then issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Preferred Stock and any other Derivative Securities then held by such Major Investor) bears to the total Common Stock of the Company
then outstanding (assuming full conversion and/or exercise, as applicable, of all Preferred Stock and other Derivative Securities). 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 the Common Stock issued and held, or issuable (directly or indirectly) upon 

  
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conversion and/or exercise, as applicable, of Preferred Stock and any other Derivative Securities then held, by such Fully Exercising Investor bears to the Common Stock issued and held, or
issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Preferred Stock and any other Derivative Securities then held, by all Fully Exercising Investors who wish to purchase such unsubscribed shares. The closing of
any sale pursuant to this Subsection 4.1(b) shall occur within the later of ninety (90) days of the date that the Offer Notice is given and the date of initial sale of New Securities pursuant to Subsection 4.1(c). 

(c)    If all New Securities referred to in the Offer Notice are not elected to be purchased or acquired as provided in
Subsection 4.1(b), the Company may, during the ninety (90) day period following the expiration of the periods provided in Subsection 4.1(b), 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
Subsection 4.1. 
 (d)    The right of first offer in this Subsection 4.1 shall not be applicable to
(i) Exempted Securities (as defined in the Restated Certificate); (ii) shares of Common Stock issued in the IPO; and (iii) the issuance of Milestone Tranche Shares (as defined in the Purchase Agreement). 

4.2    Termination. The covenants set forth in Subsection 4.1 shall terminate and be of no further force or
effect (i) immediately before the consummation of the IPO, or (ii) upon a Deemed Liquidation Event, as such term is defined in the Restated Certificate, whichever event occurs first. Solely with respect to Lundbeck, if prior to the
termination of the covenants set forth in Subsection 4.1 in connection with the IPO or Deemed Liquidation Event Lundbeck is not a Fully Exercising Investor with respect to any issuance of New Securities, the rights of Lundbeck under this
Section 4 shall terminate immediately following the consummation of such issuance. 

5.    Additional Covenants. 

5.1    Insurance. The Company currently has a Directors and Officers liability insurance policy from a financially
sound and reputable insurer in an amount of at least three million dollars ($3,000,000), and the Company shall, at all times, maintain such Directors and Officers liability insurance policy in an amount of at least three million dollars
($3,000,000); provided, that, the Board of Directors shall increase such coverage immediately prior to the IPO to a level commensurate with that of similarly-situated companies. 

5.2    Employee Agreements. The Company will cause (i) 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 and (ii) each
Key Employee to enter into a non-competition and non-solicitation 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 unanimous consent of the Preferred Directors.

  
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 5.3    Employee Stock. The Company and the Investors each agree
to take all actions reasonably necessary to cause the number of shares of Common Stock available for issuance under the Stock Plan (as defined in the Purchase Agreement) to be increased after the Milestone Closing (as defined in the Purchase
Agreement) such that the number of shares of Common Stock available for issuance under the Stock Plan will, together with all outstanding options and restricted stock grants as of the Initial Closing (as defined in the Purchase Agreement), equal
fourteen percent (14%) of the fully-diluted outstanding Common Stock immediately after giving effect to the Milestone Closing. 
 Unless
otherwise approved by the Board of Directors, including at least a majority of the Preferred 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 quarterly installments over the following thirty-six (36) months, and (ii) a
market stand-off provision substantially similar to that in Subsection 2.11. In addition, unless otherwise approved by the Board of Directors, the Company shall retain 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. 

5.4    Board Matters. 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 directors and observers 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 or any
committee of the Board of Directors or in connection with any other activities which are required and/or requested and that involve expenses. Each of the Preferred Directors designated by the holders of Series B Preferred Stock shall be entitled to
serve on any committee of the Board of Directors of the Company. 
 5.5    Intentionally Omitted. 

5.6    Successor Indemnification. 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, its Restated Certificate, or
elsewhere, as the case may be. 
 5.7    Expenses of Counsel. In the event of a transaction which is a Sale of
the Company (as defined in the Voting Agreement), the reasonable fees and disbursements, not to exceed $50,000 of one (1) counsel for the Major Investors (“Investor Counsel”), in their capacities as stockholders, shall be borne
and paid by the Company. At the outset of considering 

  
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a transaction which, if consummated would constitute a Sale of the Company, the Company shall obtain the ability to share with the Investor Counsel (and such counsel’s clients) and shall
share the confidential information (including, without limitation, the initial and all subsequent drafts of memoranda of understanding, letters of intent and other transaction documents and related noncompete, employment, consulting and other
compensation agreements and plans) pertaining to and memorializing any of the transactions which, individually or when aggregated with others would constitute the Sale of the Company. The Company shall be obligated to share (and cause the
Company’s counsel and investment bankers to share) such materials when distributed to the Company’s executives and/or any one or more of the other parties to such transaction(s). In the event that Investor Counsel deems it appropriate, in
its reasonable discretion, to enter into a joint defense agreement or other arrangement to enhance the ability of the parties to protect their communications and other reviewed materials under the attorney client privilege, the Company shall, and
shall direct its counsel to, execute and deliver to Investor Counsel and its clients such an agreement in form and substance reasonably acceptable to Investor Counsel. In the event that one or more of the other party or parties to such transactions
require the clients of Investor Counsel to enter into a confidentiality agreement and/or joint defense agreement in order to receive such information, then the Company shall share whatever information can be shared without entry into such agreement
and shall, at the same time, in good faith work expeditiously to enable Investor Counsel and its clients to negotiate and enter into the appropriate agreement(s) without undue burden to the clients of Investor Counsel. 

5.8    Indemnification Matters. The Company hereby acknowledges that one (1) or more of the directors
nominated to serve on the Board of Directors by the Investors (each a “Fund 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 “Fund Indemnitors”). The Company hereby agrees (a) that it is the indemnitor of first resort (i.e., its obligations to any such Fund Director are primary and any obligation of the Fund
Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by such Fund Director are secondary), (b) that it shall be required to advance the full amount of expenses incurred by such Fund Director and
shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement by or on behalf of any such Fund Director to the extent legally permitted and as required by the Restated Certificate or Bylaws of the
Company (or any agreement between the Company and such Fund Director), without regard to any rights such Fund Director may have against the Fund Indemnitors, and, (c) that it irrevocably waives, relinquishes and releases the Fund Indemnitors
from any and all claims against the Fund 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 Fund Indemnitors on behalf of any such Fund
Director with respect to any claim for which such Fund Director has sought indemnification from the Company shall affect the foregoing and the Fund 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 Fund Director against the Company. 
 5.9    Right to Conduct
Activities. The Company hereby agrees and acknowledges that each of the Investors is engaged in the business of investing, and as such invests in numerous portfolio companies, some of which may be deemed competitive 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, no Investor shall be liable to the Company 

  
 23 

 
for any claim arising out of, or based upon, (i) the investment by such Investor in any entity competitive with the Company, or (ii) actions taken by any partner, officer or other
representative of such Investor 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. 

5.10    FCPA. The Company covenants that it shall not (and shall not permit any of its subsidiaries or Affiliates
or any of its or their respective directors, officers, managers, employees, independent contractors, representatives or agents to) promise, authorize or make any payment to, or otherwise contribute any item of value to, directly or indirectly, to
any third party, including any Non-U.S. Official (as such term is defined in the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”)), in each case, in violation of the FCPA,
the U.K. Bribery Act, or any other applicable anti-bribery or anti-corruption law. The Company further covenants that it shall (and shall cause each of its subsidiaries and affiliates to) cease all of its or their respective activities, as well as
remediate any actions taken by the Company, its subsidiaries or affiliates, or any of their respective directors, officers, managers, employees, independent contractors, representatives or agents in violation of the FCPA, the U.K. Bribery Act, or
any other applicable anti-bribery or anti-corruption law. The Company further covenants that it shall (and shall cause each of its subsidiaries and affiliates to) maintain systems of internal controls (including, but not limited to, accounting
systems, purchasing systems and billing systems) to ensure compliance with the FCPA, the U.K. Bribery Act, or any other applicable anti-bribery or anti-corruption law. Upon request, the Company agrees to provide responsive information and/or
certifications concerning its compliance with applicable anti-corruption laws. The Company shall promptly notify each Investor if the Company becomes aware of any enforcement action. The Company shall, and shall cause any direct or indirect
subsidiary or entity controlled by it, whether now in existence or formed in the future, to comply with the FCPA, the U.K. Bribery Act, or any other applicable anti-bribery or anti-corruption law. The Company shall use its best efforts to cause any
direct or indirect subsidiary, whether now in existence or formed in the future, to comply in all material respects with all applicable laws. 

5.11    Termination of Covenants. The covenants set forth in this Section 5, except for
Subsection 5.5 and 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, whichever event occurs first. 

6.    Miscellaneous. 

6.1    Successors and Assigns. 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 1,000,000 shares of Registrable Securities (subject to appropriate 

  
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adjustment for stock splits, stock dividends, combinations, and other recapitalizations); provided, however, 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 Subsection 2.11. 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; provided further that all transferees who would not qualify individually for assignment of rights shall have 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. 

6.2    Governing Law. This Agreement shall be governed by the internal law of the State of Delaware. 

6.3    Counterparts. 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 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. 

6.4    Titles and Subtitles. The titles and subtitles used in this Agreement are for convenience only and are not
to be considered in construing or interpreting this Agreement. 
 6.5    Notices. 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 Schedule A hereto, or to the principal office of the Company and to the attention of the Chief
Executive Officer, in the case of the Company, or to such email address, facsimile number, or address as subsequently modified by written notice given in accordance with this Subsection 6.5. If notice is given to the Company, a copy shall
also be sent to Goodwin Procter LLP, 100 Northern Avenue, Boston, MA 02210, Attention: Arthur McGivern, Fax: 617-523-1231, email: amcgivern@goodwinlaw.com and if notice
is given to Series B Investors, a copy shall also be sent to Greenberg Traurig, P.A., 401 E. Las Olas Boulevard, Suite 2000, Fort Lauderdale, FL 33301, Attention: Mathew B. Hoffman, Esq., Fax: (954) 759-5532,
email: hoffmanma@gtlaw.com. 

  
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 6.6    Amendments and Waivers. Any term of this Agreement may be
amended 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 sixty percent
(60%) of the outstanding shares of Preferred Stock (voting together as a single class and not as a separate series, and on an as-converted to Common Stock basis in accordance with Section 4.1.1(b) of Part
B of Article Fourth of the Restated Certificate) (which must include New Enterprise Associates 14, Limited Partnership (for so long as it or its Affiliates holds any shares of Preferred Stock) and either Arix or OrbiMed (for so long as Arix
or its Affiliates or OrbiMed or its Affiliates, as applicable, hold any shares of Preferred Stock)); provided that the Company may in its sole discretion waive compliance with Subsection 2.12(c) (and the Company’s failure to object
promptly in writing after notification of a proposed assignment allegedly in violation of Subsection 2.12(c) shall be deemed to be a waiver); and provided further that any provision hereof may be waived by any waiving party on
such party’s own behalf, without the consent of any other party. Notwithstanding the foregoing, this Agreement may not be amended 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, termination, or waiver applies to all Investors in the same fashion (it being agreed that a waiver of the provisions of Section 4 shall be effective (i) only if
all Major Investors that have rights under Section 4 are provided the opportunity to participate in such offering to the same extent (on a percentage basis) of their pro rata share and on similar terms as the other Major
Investors who are participating in such offering or (ii) if none of the Major Investors participate in such offering). Furthermore, (v) for so long as Lundbeck has any rights under Sections 1, 3.1, 3.2, 3.4(b)
and 4, Sections 1, 3.1, 3.2, 3.4(b), 4 and this Section 6.6(v) may not be amended or terminated (other than in connection with any termination of this Agreement upon consummation of a
Deemed Liquidation Event or the IPO or any amendment to Section 1 or Section 4 that applies equally to all of the Major Investors) and the observance of any term thereof may not be waived (other
than as set forth above with respect to Section 4) with respect to Lundbeck without the written consent of Lundbeck, (w) for so long as ARE has any rights under Section 3.4(a),
Section 3.4(a) and this Section 6.6(w) may not be amended or terminated (other than in connection with any termination of this Agreement upon consummation of a Deemed Liquidation Event or the IPO)
and the observance of any term thereof may not be waived with respect to ARE without the written consent of ARE, (x) for so long as Arix has any rights under Section 3.4(c) and the last sentence of
Section 5.4, Section 3.4(c), the last sentence of Section 5.4 and this Section 6.6(x) may not be amended or terminated (other than in connection
with any termination of this Agreement upon consummation of a Deemed Liquidation Event or the IPO) and the observance of any term thereof may not be waived with respect to Arix without the written consent of Arix, (y) for so long as OrbiMed has
any rights under Section 3.4(d) and the last sentence of Section 5.4, Section 3.4(d), the last sentence of Section 5.4 and this
Section 6.6(y) may not be amended or terminated (other than in connection with any termination of this Agreement upon consummation of a Deemed Liquidation Event or the IPO) and the observance of any term thereof may not be
waived with respect to OrbiMed without the written consent of OrbiMed and (z) for so long as RA Capital has any rights under Section 3.4(e), Section 3.4(e) and this
Section 6.6(z) may not be amended or terminated (other than in connection with any termination of this Agreement upon consummation of a Deemed Liquidation Event or the IPO) and the observance of any term thereof may not be
waived with 

  
 26 

 
respect to RA Capital without the written consent of RA Capital. The Company shall give prompt notice of any amendment or termination hereof or waiver hereunder to any party hereto that did not
consent in writing to such amendment, termination, or waiver. Any amendment, termination, or waiver effected in accordance with this Subsection 6.6 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. 

6.7    Severability. 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. 
 6.8    Aggregation of
Stock. 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. 
 6.9    Additional Investors. 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 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. 

6.10    Entire Agreement. 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. For the avoidance of
doubt, with respect to Lundbeck, the provisions of this Agreement shall supersede any conflicting or inconsistent provisions of the Exclusive License Agreement, and any such provision of the Exclusive License Agreement shall be of no further force
and effect. 
 6.11    Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to
the jurisdiction of the state courts of Delaware and to the jurisdiction of the United States District Court for the District of Delaware 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 Delaware or the United States District Court for the District of Delaware, 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. 

  
 27 

 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. 
 Each party
will bear its own costs in respect of any disputes arising under this Agreement. The prevailing party shall be entitled to reasonable attorney’s fees, costs, and necessary disbursements in addition to any other relief to which such party may be
entitled. Each of the parties to this Agreement consents to personal jurisdiction for any equitable action sought in the U.S. District Court for the District of Delaware or any court of the State of Delaware having subject matter jurisdiction. 

6.12    Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party
under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of such nonbreaching or nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any
such breach or default, or to any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. All remedies, whether under
this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 

6.13    Acknowledgment. The Company acknowledges that the Investors are in the business of venture capital
investing and therefore review the business plans and related proprietary information of many enterprises, including enterprises which may have products or services which compete directly or indirectly with those of the Company. Nothing in this
Agreement shall preclude or in any way restrict the Investors from investing or participating in any particular enterprise whether or not such enterprise has products or services which compete with those of the Company. The Company and each Investor
that is a party to this Agreement, acknowledges and agrees that certain of the Investors or their Affiliates may presently have, or may engage in the future, in internal development programs, or may receive information from third parties that
relates to, and may develop and commercialize products independently or in cooperation with such third parties, that are similar to or that are directly or indirectly competitive with, the Company’s development programs, products or services.
Nothing in this Agreement or any other agreement related to the transactions contemplated by this Agreement, shall in any way preclude or restrict such Investors or their Affiliates from conducting any development program, commercializing any
product or service or otherwise engaging in any enterprise, whether or not 

  
 28 

 
such development program, product, service or enterprise, competes with those of the Company, so long as such activities do not result in a violation of the confidentiality provisions of this
Agreement. 
 [Remainder of Page Intentionally Left Blank] 

  
 29 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	COMPANY:
	
	IMARA INC.
		
	By:	 	 /s/ Rahul Ballal

	Name:	 	 Rahul Ballal
	Title:	 	 Chief Executive Officer

  
 [Signature page to
Amended and Restated Investors’ Rights Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	INVESTOR:
	
	ARIX BIOSCIENCE HOLDINGS LIMITED

 
			
		
	By:	 	     /s/ Robert
Lyne

 
			
	Name:	 	Robert Lyne
	Title:	 	Director

  
 [Signature page to
Amended and Restated Investors’ Rights Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	INVESTOR:
	
	ORBIMED PRIVATE INVESTMENTS VII, LP.

 
			
		
	By:	 	 OrbiMed Capital GP VII LLC, its General

Partner

 
			
		
	By:	 	OrbiMed Advisors LLC, its Managing Member

 
			
		
	By:	 	     /s/ Carl
Gordon

 
			
	Name:	 	Carl Gordon
	Title:	 	Member

  
 [Signature page to
Amended and Restated Investors’ Rights Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	INVESTOR:
	
	NEW ENTERPRISE ASSOCIATES 14, L.P.

 
			
		
	By:	 	 NEA Partners 14, Limited Partnership, its

General Partner

 
			
		
	By:	 	NEA 14 GP, LTD, its General Partner

 
			
		
	By:	 	     /s/ Louis S.
Citron

 
			
	Name:	 	Louis S. Citron
	Title:	 	Chief Legal Officer
	
	INVESTOR:
	
	NEA VENTURES 2016, L.P.

 
			
		
	By:	 	     /s/ Louis S.
Citron

 
			
	Name:	 	Louis S. Citron
	Title:	 	Vice-President

  
 [Signature page to
Amended and Restated Investors’ Rights Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	INVESTOR:
	
	PFIZER VENTURES (US) LLC

 
			
		
	By:	 	     /s/ Barbara
Dalton

 
			
	Name:	 	Barbara Dalton
	Title:	 	President

  
 [Signature page to Amended and
Restated Investors’ Rights Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	INVESTOR:
	
	BAY CITY CAPITAL FUND V, L.P.

 
			
		
	By:	 	Bay City Capital Management V, LLC, its
General Partner

 
			
		
	By:	 	Bay City Capital, LLC, its Manager

 
			
		
	By:	 	     /s/ Carl
Goldfischer

 
			
	Name:	 	Carl Goldfischer, MD
	Title:	 	Manager and Managing Director

  

			
	INVESTOR:
	
	BAY CITY CAPITAL FUND V
	CO-INVESTMENT FUND, L.P.

 
			
		
	By:	 	Bay City Capital Management V, LLC, its
General Partner

 
			
		
	By:	 	Bay City Capital, LLC, its Manager

 
			
		
	By:	 	     /s/ Carl
Goldfischer

 
			
	Name:	 	Carl Goldfischer, MD
	Title:	 	Manager and Managing Director

  
 [Signature page to Amended and
Restated Investors’ Rights Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	INVESTOR:
	
	ALEXANDRIA EQUITIES NO. 3, LLC,

 
			
		
	By:	 	 Alexandria Real Estate Equities, Inc., its

Managing Member

 
			
		
	By:	 	     /s/ Aaron
Jacobson

 
			
	Name:	 	Aaron Jacobson
	Title:	 	SVP — Venture Counsel

  
 [Signature page to Amended and
Restated Investors’ Rights Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	INVESTOR:
	
	LUNDBECKFOND INVEST A/S acting by:

 
			
		
	By:	 	     /s/ Mette Kirstine
Agger

 
			
	Name:	 	Mette Kirstine Agger
	Title:	 	Managing Partner, Lundbeckfonden Ventures

 
			
		
	By:	 	     /s/ Lene
Skole

 
			
	Name:	 	Lene Skole
	Title:	 	CEO, Lundbeckfond Invest A/S

  
 [Signature page to Amended and
Restated Investors’ Rights Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	INVESTOR:
	
	RA CAPITAL HEALTHCARE FUND, L.P.

 
			
		
	By:	 	 By: RA Capital Management, LLC, its
 General
Partner

 
			
		
	By:	 	     /s/ James
Schneider

 
			
	Name:	 	James Schneider
	Title:	 	Authorized Signatory

  
 [Signature page to Amended and
Restated Investors’ Rights Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	INVESTOR:
	
	BLACKWELL PARTNERS LLC — SERIES A

 
			
		
	By:	 	     /s/ Abayomi
Adigun

 
			
	Name:	 	Abayomi A. Adigun
	Title:	 	Investment Manager
		 	DUMAC, Inc., Authorized Agent

 
			
		
	By:	 	     /s/ Jannine
Lall

 
			
	Name:	 	Jannine M. Lall
	Title:	 	Head of Finance & Controller

		 	DUMAC, Inc., Authorized Agent

  
 [Signature page to Amended and
Restated Investors’ Rights Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	INVESTOR:
	
	ROCK SPRINGS CAPITAL MASTER FUND LP

 
			
		
	By:	 	Rock Springs General Partner LLC, its
General Partner

 
			
		
	By:	 	     /s/ Mark
Bussard

 
			
	Name:	 	Mark Bussard
	Title:	 	Managing Member

  

[Signature page to Amended and Restated Investors’ Rights Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	For purposes of Sections 1, 3.1, 3.2, 3.4(b), 3.6 and 4:
	
	H. LUNDBECK A/S

 
			
		
	By:	 	     /s/ Thomas Birger
Riisager

 
			
	Name:	 	Thomas Birger Riisager
	Title:	 	Vice President

  
 [Signature page to Amended and
Restated Investors’ Rights Agreement] 

 SCHEDULE A 

Investors 

Name and Address 
  

			
	Name:	  	New Enterprise Associates 14, L.P.
		
	Address:	  	 1954 Greenspring Drive, Suite 600
 Timonium, MD
21093

		
	Name:	  	NEA Ventures 2016, L.P.
		
	Address:	  	 1954 Greenspring Drive, Suite 600
 Timonium, MD
21093

		
	Name:	  	Pfizer Ventures (US) LLC
		
	Address:	  	 235 East 42nd Street
 New York, NY
10017

		
	Name:	  	Lundbeckfond Invest A/S
		
	Address:	  	 Scherfigsvej 7

DK-2100 Copenhagen O, Denmark

		
	Name:	  	Bay City Capital Fund V, L.P.
		
	Address:	  	 750 Battery Street, Suite 400
 San Francisco, CA
94111

		
	Name:	  	Bay City Capital Fund V Co-Investment Fund, L.P.
		
	Address:	  	 750 Battery Street, Suite 400
 San Francisco, CA
94111

		
	Name:	  	Alexandria Equities No. 3, LLC
		
	Address:	  	 385 E. Colorado Blvd, Suite 299
 Pasadena, CA
91101

  
 Schedule A to Amended and Restated
Investors’ Rights Agreement 

			
	Name:	  	Arix Bioscience Holdings Limited
		
	Address:	  	 250 West 55th Street, 33rd Floor
 New York, NY
10019
 Attention: Mark Chin
  

and
  

20 Berkeley Square
 London W1J 6EQ

United Kingdom
 Attention: Robert Lyne, Esq.

		
	Name:	  	OrbiMed Private Investments VII, LP
		
	Address:	  	 601 Lexington Avenue, 54th Floor
 New York, NY
10022
 Attention: David P. Bonita, M.D.

		
	Name:	  	RA Capital Healthcare Fund, L.P.
		
	Address:	  	 RA Capital Management, LLC
 20 Park Plaza

Suite 1200
 Boston, MA 02116

Attn: General Counsel

		
	Name:	  	Blackwell Partners LLC — Series A,
		
	Address:	  	 280 S. Mangum Street
 Suite 210

Durham, NC 27701
 Attn: Jannine Lall

		
	Name:	  	Rock Springs Capital Master Fund LP
		
	Address:	  	 Rock Springs Capital
 650 South Exeter
Street
 Suite 1070
 Baltimore, MD 21202

Attention: General Counsel

  
 Schedule A to Amended and Restated
Investors’ Rights Agreement

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