Document:

Sagent Holding Co. Series B-1 Preference Shares and Warrant Purchase Agreement

 Exhibit 10.12 
 SAGENT HOLDING CO. 
 SERIES B-1 PREFERENCE SHARES AND WARRANT PURCHASE
AGREEMENT 
 This Series B-1 Preference Shares and Warrant Purchase Agreement (the “Agreement”) is made and
entered into as of April 6, 2010 by and between Sagent Holding Co., a Cayman Islands exempted company (the “Company”), and the entity listed on the Schedule of Purchasers attached hereto as Exhibit A-1 (the
“Purchaser” or “Key Gate”). 
 NOW THEREFORE, in consideration of the mutual covenants
and representations set forth herein, the Company and the Purchaser agree as follows: 
 1. Purchase and Sale of
Shares and Warrants. On the terms and subject to the conditions of this Agreement, the Company hereby agrees to issue to the Purchaser and the Purchaser hereby agrees to acquire from the Company, up to an aggregate of 21,428,571 shares of
the Company’s Series B-1 Preference Shares (the “Shares” or “Series B-1 Shares”) at a price of USD $1.40 per share (the “Purchase Price”) as respectively set forth on Exhibit A-1. The Company
is also issuing to Key Gate warrants to purchase up to 4,421,768 Series B-1 Shares (subject to adjustment) or, at the holder’s sole option, shares of the class and series of Preference Shares issued by the Company to investors in the
Company’s next round of equity financing (the “Next Financing”) that occurs following the Series B-1 financing and prior to the expiration of such warrants, as the case may be, of which 2,380,952 warrants (subject to
adjustment) shall have an initial exercise price of USD $2.10 (subject to adjustment) and 2,040,816 warrants (subject to adjustment) shall have an initial exercise price of USD $2.45 (subject to adjustment) (collectively, the
“Warrants”), in substantially the form attached hereto as Exhibit B. On or prior to the Closing (as defined in Section 2(a) below), the Company shall have authorized (a) the sale and issuance to the Purchaser of the
Shares, (b) the sale and issuance of the Warrants for the purchase of up to 4,421,768 Series B-1 Shares (subject to adjustment) or shares of the class and series of Preference Shares issued by the Company to investors in the Next Financing, as
the case may be (the “Warrant Shares”), and (c) the issuance of such Ordinary Shares (as defined in Section 4(d) below) to be issued upon conversion of the Shares and the Warrant Shares (the “Conversion
Shares”). The Shares and the Conversion Shares shall have the rights, preferences, privileges and restrictions set forth in the Fifth Amended and Restated Memorandum of Association of the Company (the “Amended Memorandum”)
and the Fifth Amended and Restated Articles of Association (the “Amended Articles”) of the Company, in the forms attached hereto as Exhibit C-1 and Exhibit C-2, respectively. 

2. Closing. 
 (a) Closing. The purchase, sale and issuance of the Shares and the Warrants shall take place at such time and on such date as designated by the Company and the Purchaser (the
“Closing” and the date of the Closing, the “Closing Date”). 
 (b) Closing Mechanics.
The Closing will take place by facsimile or PDF, at the offices of Wilson Sonsini Goodrich & Rosati, P.C., or at such other place as shall be designated by the Company and agreed to by the Purchaser. At or before the Closing, the Company
and the Purchaser will execute counterpart signature pages to this Agreement, the 

 
Amended Members Agreement, the Amended Voting Agreement, the Amended Co-Sale Agreement (each as defined in Section 4(a) below, and together with this Agreement, the Amended Members Agreement
and the Amended Voting Agreement and the Amended Co-Sale Agreement, the “Agreements”). At or before the Closing, the Purchaser shall deliver to the Company the aggregate Purchase Price of the Shares to be purchased by the Purchaser
in the Closing, which is set forth opposite the Purchaser’s name in Exhibit A-1 hereto. The payment shall be in the form of a cashier’s check, wire transfer of immediately available funds or cancellation of indebtedness. At the
Closing, or as promptly thereafter as practicable, the Company will deliver the Warrants to the Purchaser and issue to the Purchaser a certificate representing the Shares being purchased by the Purchaser, as set forth opposite the Purchaser’s
name in Exhibit A-1 hereto, registered in the name of the Purchaser. 
 3. Purchaser’s Representations and
Warranties. The Purchaser hereby represents and warrants to the Company as follows: 
 (a) No Registration. The
Purchaser understands that the Shares, the Warrants, the Warrant Shares and the Conversion Shares, have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), by reason of a
specific exemption from the registration provisions of the Securities Act, the availability of which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Purchaser’s representations as
expressed herein or otherwise made pursuant hereto. 
 (b) Investment Intent. The Purchaser is acquiring the Shares, the
Warrants, the Warrant Shares and the Conversion Shares, as applicable, for investment for its own account, not as a nominee or agent, and not with the view to, or for resale in connection with, any distribution thereof, and that the Purchaser has no
present intention of selling, granting any participation in, or otherwise distributing the same. The Purchaser further represents that it does not have any contract, undertaking, agreement or arrangement with any person or entity to sell, transfer
or grant participation to such person or entity or to any third person or entity with respect to any of the Shares, the Warrants, the Warrant Shares or the Conversion Shares. 
 (c) Investment Experience. The Purchaser, or its purchaser representative, within the meaning of Regulation D, Rule 501(h), promulgated by the Securities and Exchange Commission (its
“Purchaser Representative”), has substantial experience in evaluating and investing in private placement transactions of securities in companies similar to the Company and acknowledges that the Purchaser or its Purchaser
Representative, can protect such Purchaser’s interests. The Purchaser or its Purchaser Representative has such knowledge and experience in financial and business matters so that the Purchaser or its Purchaser Representative is capable of
evaluating the merits and risks of its investment in the Company. 
 (d) Ability to Bear Financial Risk. The
Purchaser understands and acknowledges that an investment in the Company is highly speculative and involves substantial risks. The Purchaser can bear the economic risk of the Purchaser’s investment and is able, without impairing the
Purchaser’s financial condition, to hold the Shares, the Warrants, the Warrant Shares and the Conversion Shares for an indefinite period of time and to suffer a complete loss of the Purchaser’s investment. 

  
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 (e) Access to Data. The Purchaser has had an opportunity to ask questions of, and
receive answers from, the officers of the Company concerning the Agreements, the exhibits and schedules attached hereto and thereto and the transactions contemplated by the Agreements, as well as the Company’s business, management and financial
affairs, which questions were answered to its satisfaction. The Purchaser understands that such discussions, as well as any information issued by the Company, were intended to describe certain aspects of the Company’s business and prospects,
but were not necessarily a thorough or exhaustive description. The Purchaser acknowledges that any business plans prepared by the Company have been, and continue to be, subject to change and that any projections included in such business plans or
otherwise are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying the projections will not materialize or will vary significantly from actual results. The Purchaser also acknowledges that it is
relying solely on its own counsel and not on any statements or representations (other than each representation and warranty of the Company set forth in any of the Agreements) of the Company or its agents for legal advice with respect to this
investment or the transactions contemplated by the Agreements. 
 (f) Accredited Investor. Unless the Purchaser is
designated as a “Regulation S Investor” on Exhibit A-2 hereto, such Purchaser is an “accredited investor” within the meaning of Regulation D, Rule 501(a), promulgated by the Securities and Exchange Commission under
the Securities Act and shall submit to the Company such further assurances of such status as may be reasonably requested by the Company. 
 (g) Residency. The residency of the Purchaser (or, in the case of a partnership or corporation, such entity’s registered address) is correctly set forth on the Schedule of Purchasers.

 (h) Rule 144. The Purchaser acknowledges that the Shares, the Warrants, the Warrant Shares and the Conversion Shares
must be held indefinitely unless subsequently registered under the Securities Act or an exemption from such registration is available. The Purchaser is aware of the provisions of Rule 144 promulgated under the Securities Act which provides for a
non-exclusive safe harbor to exempt resales of shares purchased in a private placement from the registration requirements of the Securities Act, subject to the satisfaction of certain conditions. The Purchaser understands that the current public
information requirement of Rule 144 is not now available and the Company has no present plans to make such information available. The Purchaser acknowledges and understands that notwithstanding any obligation under the Amended Members Agreement, the
Company may not be satisfying the current public information requirement of Rule 144 at the time the Purchaser wishes to sell the Shares, the Warrants, the Warrant Shares or the Conversion Shares, and that, in such event, the Purchaser may be
precluded from selling such securities under Rule 144, even if the other applicable requirements of Rule 144 are satisfied. The Purchaser acknowledges that, in the event the applicable requirements of Rule 144 are not met, registration under the
Securities Act or another exemption from registration will be required for any disposition of the Shares or the underlying Common Stock. The Purchaser understands that, although Rule 144 is not exclusive, the Securities and Exchange Commission has
expressed its opinion that persons proposing to sell restricted securities received in a private offering other than in a registered offering or pursuant to Rule 144 will have a substantial burden of proof in establishing that an exemption from
registration is available for such offers or sales and that such persons and the brokers who participate in the transactions do so at their own risk. 

  
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 (i) No Public Market. The Purchaser understands and acknowledges that no public
market now exists for any of the securities issued by the Company and that the Company has made no assurances that a public market will ever exist for the Company’s securities. 

(j) Authorization. 
 (i) The Purchaser has all requisite power and authority to execute and deliver the Agreements, to purchase the Shares, the Warrants and the Warrant Shares, as applicable, hereunder and to carry out and
perform its obligations under the terms of the Agreements. All action on the part of the Purchaser necessary for the authorization, execution, delivery and performance of the Agreements, and the performance of all of the Purchaser’s obligations
under the Agreements, has been taken or will be taken prior to the Closing. 
 (ii) The Agreements, when executed and delivered
by the Purchaser, will constitute valid and legally binding obligations of the Purchaser, enforceable in accordance with their terms except: (i) to the extent that the indemnification provisions contained in the Amended Members Agreement may be
limited by applicable law and principles of public policy, (ii) as limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, and
(iii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies or by general principles of equity. 
 (iii) No consent, approval, authorization, order, filing, registration or qualification of or with any court, governmental authority or third person is required to be obtained by the Purchaser in
connection with the execution and delivery of the Agreements by the Purchaser or the performance of the Purchaser’s obligations hereunder or thereunder. 
 (k) Brokers or Finders. The Purchaser has not engaged any brokers, finders or agents, and neither the Company nor any other Purchaser has, nor will, incur, directly or indirectly, as a result of
any action taken by the Purchaser, any liability for brokerage or finders’ fees or agents’ commissions or any similar charges in connection with the Agreements. 
 (l) Tax Advisors. The Purchaser has reviewed with its own tax advisors the U.S. federal, state, local and foreign tax consequences of this investment and the transactions contemplated by the
Agreements. With respect to such matters, the Purchaser relies solely on such advisors and not on any statements or representations of the Company or any of its agents, written or oral. The Purchaser understands that it (and not the Company) shall
be responsible for its own tax liability that may arise as a result of this investment or the transactions contemplated by the Agreements. 
 (m) ERISA Status. If any Purchaser is a “benefit plan investor” (as such term is defined in the regulations of the U.S. Department of Labor included within 29 C.F.R. section 2510.3-101)
subject to the fiduciary responsibility provisions of part 4 of title I of the U.S. Employee Retirement Income Security Act of 1974, as amended from time to time (“ERISA”), such Purchaser shall indicate such status by writing
“ERISA Purchaser” next to its name on Exhibit A-1 hereto. 

  
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 (n) Legends. The Purchaser understands and agrees that the certificates evidencing
the Shares, the Warrant Shares or the Conversion Shares, or any other securities issued in respect of the Shares, the Warrant Shares or the Conversion Shares upon any stock split, stock dividend, recapitalization, merger, consolidation or similar
event, shall bear the following legend (in addition to any legend required by the Ancillary Agreements (as defined in Section 4(a) below) or under applicable state securities laws): 

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”). SUCH SECURITIES MAY NOT BE TRANSFERRED UNLESS (A) A REGISTRATION STATEMENT UNDER THE ACT IS IN EFFECT AS TO SUCH TRANSFER OR (B) PURSUANT TO RULE 144, OR (C) IN THE OPINION OF THE COMPANY, REGISTRATION UNDER
THE ACT IS UNNECESSARY IN ORDER FOR SUCH TRANSFER TO COMPLY WITH THE ACT.” 
 (o) Investment Representations, Warranties
and Covenants by Regulation S Investors. The Purchaser, designated as a Regulation S Investor on Exhibit A-2, hereby represents and warrants to the Company as follows: 

(i) This Agreement is made by the Company with the Purchaser, who is a Non-U.S. person (as that term is defined in Section 3(p)
herein), in reliance upon such Non-U.S. person’s representations, warranties and covenants made in this Section 3(o). 
 (ii) Such Non-U.S. person has been advised and acknowledges that: 
 (1) the
Shares, the Warrants, the Warrant Shares and the Conversion Shares have not been, and when issued, will not be registered under the Securities Act, the securities laws of any state of the United States or the securities laws of any other country;

 (2) in issuing and selling the Shares and the Conversion Shares to such Non-U.S. person pursuant hereto, the Company is
relying upon the “safe harbor” provided by Regulation S and/or on Section 4(2) under the Securities Act; and 

(3) in connection with any offer or sale of the Shares, the Warrants, the Warrant Shares or the Conversion Shares, such offer or sale,
if not registered pursuant to the Securities Act, will comply with the applicable requirements set forth in Regulation S or another available exemption from registration. 
 (iii) Such Non-U.S. person agrees that with respect to the Shares, the Warrants, the Warrant Shares and the Conversion Shares, that its purchase of the Shares and the Warrants complies with the applicable
requirements of Regulation S. Such Non-U.S. person agrees that the Shares, the Warrants, the Warrant Shares and the Conversion Shares may be offered or sold within the United States or to or for the account of a U.S. person only pursuant to
applicable securities laws. 

  
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 (iv) Such Non-U.S. person has not engaged and will not engage or cause any third party to
engage, in any directed selling efforts (as such term is defined in Regulation S) in the United States with respect to the Shares the Warrants, the Warrant Shares and the Conversion Shares. 

(v) Such Non-U.S. person: (i) is domiciled and has its principal place of business outside the United States; (ii) certifies
it is not a U.S. person and is not acquiring the Shares, the Warrants, the Warrant Shares or the Conversion Shares for the account or benefit of any U.S. person; and (iii) at the time of the Closing Date, the Non-U.S. person or persons acting
on Non-U.S. person’s behalf in connection therewith will be located outside the United States. 
 (vi) At the time of
offering to such Non-U.S. person and communication of such Non-U.S. person’s order to purchase the Shares, the Warrants, the Warrant Shares or the Conversion Shares and at the time of such Non-U.S. Person’s execution of this Agreement, the
Non-U.S. person was located outside the United States. 
 (vii) Such Non-U.S. person is not a “distributor” (as
defined in Regulation S) or a “dealer” (as defined in the Securities Act). 
 (viii) Such Non-U.S. person
acknowledges that the Company shall make a notation in its stock books regarding the restrictions on transfer set forth in this Section 3(o) and shall transfer such shares on the books of the Company only to the extent consistent therewith. In
particular, such Non-U.S. person acknowledges that the Company shall refuse to register any transfer of the Shares, the Warrants, the Warrant Shares or the Conversion Shares not made in accordance with the provisions of Regulation S, pursuant to
registration under the Securities Act or pursuant to an available exemption from registration. 
 (ix) Such Non-U.S. person
understands and agrees that each certificate held by such Non-U.S. person representing the Shares, the Warrant Shares or the Conversion Shares, or any other securities issued in respect of the Shares, the Warrant Shares or any the Conversion Shares
upon conversion thereof upon any stock split, stock dividend, recapitalization, merger, consolidation or similar event, shall bear the following legend (in addition to any legend required by the Ancillary Agreement or under applicable state
securities laws): 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S PROMULGATED UNDER THE SECURITIES ACT, PURSUANT TO REGISTRATION UNDER THE SECURITIES ACT
OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION. HEDGING TRANSACTIONS INVOLVING THE SHARES REPRESENTED HEREBY MAY NOT BE CONDUCTED 

  
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UNLESS IN COMPLIANCE WITH THE SECURITIES ACT. THIS CERTIFICATE MUST BE SURRENDERED TO THE COMPANY OR ITS TRANSFER AGENT AS A CONDITION PRECEDENT TO THE SALE, PLEDGE, HYPOTHECATION OR ANY OTHER
TRANSFER OF ANY INTEREST IN ANY OF THE SHARES REPRESENTED BY THIS CERTIFICATE. 
 (p) Representations by Non-United States
persons. If the Purchaser is not a United States person, the Purchaser hereby represents that the Purchaser is satisfied as to the full observance of the laws of the Purchaser’s jurisdiction in connection with any invitation to subscribe
for the Shares, the Warrants, the Warrant Shares and the Conversion Shares or any use of the Agreements, including (i) the legal requirements within the Purchaser’s jurisdiction for the purchase of the Shares, the Warrants, the Warrant
Shares and the Conversion Shares, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental or other consents that may need to be obtained and (iv) the income tax and other tax consequences, if any,
that may be relevant to the purchase, holding, redemption, sale or transfer of such securities. The Purchaser’s subscription and payment for, and the Purchaser’s continued beneficial ownership of, the Shares, the Warrants, the Warrant
Shares and the Conversion Shares will not violate any applicable securities or other laws of the Purchaser’s jurisdiction. 

As used herein, the term “United States” means the United States of America, its territories and possessions, any State
of the United States, and the District of Columbia, and the term “U.S. person” (as defined in Regulation S) means: 
 (1) a natural person resident in the United States; 
 (2) any partnership or
corporation organized or incorporated under the laws of the United States; 
 (3) any estate of which any executor or
administrator is a U.S. person; 
 (4) any trust of which any trustee is a U.S. person; 

(5) any agency or branch of a foreign entity located in the United States; 

(6) any nondiscretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit
or account of a U.S. person; 
 (7) any discretionary account or similar account (other than an estate or trust) held by a
dealer or other fiduciary organized, incorporated and (if an individual) resident in the United States; and 
 (8) a
corporation or partnership organized under the laws of any foreign jurisdiction and formed by a U.S. person principally for the purpose of investing in securities not registered under the Securities Act, unless it is organized or incorporated, and
owned, by accredited investors (as defined in Rule 501(a) under the Securities Act) who are not natural persons, estates or trusts. 

  
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 As used herein, the term “Non-U.S. person” means any person who is not a
U.S. person or is deemed not to be a U.S. person under Rule 902(k)(2) of the Securities Act. 
 4. Company’s
Representations. Except as set forth in the Schedule of Exceptions, attached hereto as Schedule A, the Company hereby represents and warrants to the Purchaser as set forth below. Except for Sections (a), (b), (c), (d),
(e) and (f) below, for purposes of this Section 4, all references to the “Company” shall refer to and include the Company and its wholly owned subsidiaries, Sagent International, a Cayman Islands exempted company (the
“Cayman Sub”), and Sagent Pharmaceuticals, a Wyoming corporation (the “Wyoming Sub” and, together with the Cayman Sub, the “Subsidiaries”). 

(a) Corporate Power. The Company presently has, and as of the Closing will have, full legal right, power and capacity and all
necessary consents, approvals and authorizations, whether corporate, member, governmental or otherwise, as may be required to execute and deliver this Agreement and the related ancillary agreements (the “Ancillary
Agreements,” which include, among others, the Third Amended and Restated Members Agreement (the “Amended Members Agreement”), in the form attached hereto as Exhibit D, the Third Amended and Restated Voting
Agreement (the “Amended Voting Agreement”), substantially in the form attached hereto as Exhibit E and the Second Amended and Restated Right of First Refusal and Co-Sale Agreement (the “Amended Co-Sale
Agreement”), substantially in the form attached hereto as Exhibit F) to issue and sell the Shares, the Warrants, the Warrant Shares and the Conversion Shares to the Purchaser pursuant hereto in the manner contemplated hereby and to
carry out the provisions of this Agreement, the Ancillary Agreements and the Amended Articles. 
 (b) Organization, Good
Standing and Qualification. Each of the Company and its Subsidiaries is a company or corporation duly incorporated, validly existing and in good standing under the laws of its jurisdiction of incorporation, and is qualified and is authorized to
do business as a foreign corporation in all jurisdictions where the failure to be so qualified and/or authorized would have a material adverse effect on the business, assets, properties, prospects, results of operations and financial condition of
the Company and its Subsidiaries, taken as a whole (a “Material Adverse Effect”). Each of the Company and its Subsidiaries has all requisite corporate power and authority to own and operate its business, properties and assets and to
carry on its business as presently conducted and as presently proposed to be conducted. 
 (c) Subsidiaries. Except for
the Cayman Sub and the Wyoming Sub, both of which are wholly owned subsidiaries of the Company (each, a “Subsidiary” and together, the “Subsidiaries”), and Kanghong Sagent (Chengdu) Pharmaceuticals Inc. and Sagent
Strides LLC, in each of which the Company owns a fifty (50%) equity interest, the Company does not own or control, directly or indirectly, or hold any rights to acquire any equity security or other interest of any other corporation, limited
partnership or other business entity. Except as set forth in the Schedule of Exceptions, the Company is not a participant in any joint venture, partnership or similar arrangement. Each Subsidiary is duly organized and existing under the laws of its
jurisdiction of incorporation and is in good standing under such laws, and all of the outstanding 

  
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shares, including shares of capital stock (or other voting interests), of each Subsidiary are owned by the Company. Each Subsidiary does not own or lease property or engage in any activity in any
jurisdiction that might require its qualification to do business as a foreign corporation and in which the failure so to qualify would have a Material Adverse Effect. 
 (d) Capitalization. Immediately prior to the Closing, the authorized capital of the Company will consist of: 
 (i) Preference Shares. 145,850,339 Preference Shares of the Company, par value USD $0.00001 per share (“Preference Shares”), of which (A) 113,000,000 shares will be designated
as Series A Preference Shares (“Series A Shares”) and all of which will be issued and outstanding, (B) 7,000,000 shares will be designated as Series B Preference Shares (“Series B Shares”), and
(C) 25,850,339 shares will be designated as Series B-1 Shares and none of which will be issued and outstanding. The rights, privileges and preferences of the Preference Shares are as stated in the Amended Articles. The transactions contemplated
by this Agreement and the Ancillary Agreements, and the issuance and sale of the Shares, the Warrants, and the Warrant Shares pursuant hereto, and of the Conversion Shares pursuant to the Amended Articles, will not, result in any adjustment to the
Conversion Price (as defined in the Amended Articles) applicable to any of the Company’s Preference Shares. 
 (ii)
Ordinary Shares. 180,000,000 Ordinary Shares of the Company, par value USD $0.00001 per share (“Ordinary Shares”), of which (A) as of March 28, 2010 15,671,501 shares are issued and outstanding, (B) 113,000,000
shares will be reserved for issuance upon conversion of the Series A Shares, (C) 7,000,000 shares will be reserved for issuance upon conversion of the Series B Shares, and (D) 25,850,339 shares will be reserved for issuance upon conversion
of the Series B-1 Shares and Warrant Shares. The Company has reserved 13,200,000 of its Ordinary Shares to be granted to employees, consultants and directors pursuant to the Company’s 2007 Global Share Plan (the “Option Plan”).
As of March 28, 2010, there are 8,481,303 options outstanding to purchase Ordinary Shares under the Option Plan. The outstanding Ordinary Shares (and, with respect to the following Clauses 2 and 3 of this Section 4(d)(ii), the outstanding
options for Ordinary Shares) (1) have been duly authorized and validly issued, and are fully paid and nonassessable, (2) were issued in compliance with all applicable state, foreign and federal laws concerning the issuance of securities,
and (3) were not issued in violation of any applicable statutory, contractual or other preemptive rights, pro rata rights, rights of first refusal or similar rights. All options granted or pledged to be granted and Ordinary Shares issued vest
as follows: twenty-five percent (25%) of the shares vest one (1) year following the vesting commencement date, with the remaining seventy-five percent (75%) vesting in equal monthly installments over the next three (3) years.
Except as set forth in the Schedule of Exceptions, no share plan, share purchase, share option or other agreement or understanding between the Company and any holder of any equity securities or rights to purchase equity securities provides for
acceleration or other changes in the vesting provisions or other terms of such agreement or understanding as the result of (i) termination of employment or consulting services (whether actual or constructive); (ii) any merger, consolidated
sale of shares or assets, change in control or any other transaction(s) by the Company; or (iii) the occurrence of any other event or combination of events. 

  
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 (iii) Except as otherwise set forth herein or in the Ancillary Agreements, there are no
outstanding options, warrants, rights (including conversion or preemptive rights and rights of first refusal), proxy or member agreements or agreements of any kind to purchase any of the Company’s or its Subsidiaries’ authorized and
unissued shares. 
 (iv) Purchasers who are subject to ERISA (as previously described herein) will not at any time own 25% or
more of the Preference Shares and/or the Ordinary Shares then currently issued. 
 (v) Each Series B-1 Share and Warrant Share
is convertible into an Ordinary Share on a one-for-one basis as of the date hereof. The Warrant Shares and the Conversion Shares have been duly and validly reserved for issuance. When issued in compliance with the provisions of this Agreement and
the Amended Articles, the Shares, the Warrant Shares and the Conversion Shares will be validly issued, fully paid and nonassessable, and will be free of any liens or encumbrances other than liens and encumbrances created by or imposed upon the
Purchaser; provided, however, that the Shares, the Warrant Shares and the Conversion Shares may be subject to restrictions on transfer under the terms of this Agreement and the Ancillary Agreements, and under applicable state, federal
and/or foreign securities laws. The Warrants are duly authorized and when validly executed and authenticated in accordance with their terms and delivered to the Purchaser in accordance with the terms of this Agreement, will be valid and binding
legal obligations of the Company and enforceable in accordance with their terms. No provisions of applicable law (including any laws of the Cayman Islands) or the Amended Articles gives the Company the right to make any capital call or similar
demand for contributions from any member of the Company. 
 The parties hereto (each, a “Party” and together,
the “Parties”) acknowledge that the terms “reserve,” “reservation” or similar words have no technical meaning under the Companies Law (2009 Revision) of the Cayman Islands. For the purpose only of this Agreement,
“reserve,” “reservation” or similar words shall mean that the Company shall and the Board of Directors shall procure that the Company shall refrain from issuing (i) a number of Series B-1 Shares sufficient to enable the
Company to comply with its obligations pursuant to this Agreement so that such number of Series B-1 Shares will remain in the authorized but unissued share capital of the Company until the rights to purchase the Series B-1 Shares are exercised in
accordance with the terms of this Agreement, and (ii) a number of Ordinary Shares sufficient to satisfy the conversion rights of the holders of Series B-1 Shares, Warrant Shares and the purchase rights of the holders of options to purchase
Ordinary Shares, so that such number of Ordinary Shares will remain in the authorized but unissued share capital of the Company until the aforementioned conversion and/or purchase rights are exercised in accordance with the terms of the Amended
Articles or the Option Plan (and the related option agreements), as applicable. 
 (vi) All holders of outstanding securities
of the Company, including, without limitation, all outstanding shares of the Company, all shares of the Company issuable upon the conversion or exercise of all convertible or exercisable securities and all other securities that the Company is
obligated to issue, are subject to a one hundred eighty (180) day “market stand-off” restriction upon an initial public offering of the Company’s securities pursuant to a registration statement filed with the SEC pursuant to the
Act in a form no less restrictive to such holder than that contained in the Amended Members Agreement. 

  
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 (e) Enforceability. This Agreement and the Ancillary Agreements, when executed and
delivered by the Company, will be duly and validly executed and delivered by the Company and will constitute the Company’s legally binding obligations enforceable against the Company in accordance with their terms, except to the extent that
such enforcement may be limited by bankruptcy, insolvency or similar laws now or hereafter in effect relating to creditors’ rights and remedies generally. All corporate action on the part of the Company, its officers, directors and members
necessary for the authorization of this Agreement and the Ancillary Agreements, the performance of all obligations of the Company hereunder and thereunder at the Closing and the authorization, sale, issuance and delivery of the Shares, the Warrants
and the Warrant Shares pursuant hereto and the Conversion Shares pursuant to the Amended Articles has been taken or will be taken prior to the Closing. The sale of the Shares, the Warrants and the Warrant Shares and the subsequent conversion of the
Shares and the Warrant Shares into Conversion Shares are not and will not be subject to any preemptive rights or rights of first refusal that have not been properly waived or complied with. 

(f) Offering. Provided that the representations and warranties made by the Purchaser herein are complete, true and accurate, then
the offer, issuance and sale of the Shares, the Warrants, the Warrant Shares and the Conversion Shares pursuant to this Agreement will be exempt from the registration requirements of the Act, and are exempt from registration and qualification under
the registration, permit or qualification requirements of all applicable United States state and foreign securities laws. None of the Company, its affiliates or any person acting on its or their behalf, has engaged or will engage in any
“directed selling efforts” (within the meaning of Regulation S promulgated under the Securities Act) or a “general solicitation” (within the meaning of Regulation D promulgated under the Securities Act) with respect to the
Preference Shares or the Warrant Shares. 
 (g) Financial Statements. The Company has delivered to the Purchaser or its
representatives the audited consolidated balance sheet, income statement and cash flow statement of the Company as of and for the periods ended December 31, 2007 and December 31, 2008 and the unaudited consolidated balance sheet, income
statement and cash flow statement of the Company as of and for the period ended September 30, 2009 (the “Balance Sheet Date”) (the foregoing financial statements and notes thereto, as applicable, are hereinafter referred to as
the “Financial Statements”). The Financial Statements are correct in all material respects, present fairly the financial condition and operating results of the Company as of the date(s) and during the period(s) indicated therein and
were prepared in accordance with United States generally accepted accounting principles. 
 (h) Changes. Since Balance
Sheet Date, there has not been any event or condition of any type that has had or that (a) could reasonably be expected to have a Material Adverse Effect or (b) could result in any adjustment to the Conversion Price (as defined in the
Amended Articles) applicable to any of the Company’s Preference Shares. 
 (i) Title to Property and Assets. The
Company has good and marketable title to its property and assets, and has good title to all its leasehold interests, in each case subject to no mortgage, pledge, lien, lease, encumbrance or charge that materially detracts from the value of the
property subject thereto or materially impairs the operations of the Company. All facilities, machinery, equipment, fixtures, vehicles and other properties owned, leased or used by the 

  
 11 

 
Company that are material to the business of the Company are in good operating condition and repair, normal wear and tear excepted, and are reasonably fit and usable for the purposes for which
they are being used. The Company is in compliance with all material terms of each lease to which it is a party or is otherwise bound. Except for intellectual property rights, the Company’s property and assets, together with its leasehold
interests, comprise all of the material properties, assets and rights necessary to permit the Company and its Subsidiaries to conduct its businesses as they are presently conducted. 

(j) Litigation. There is no action, suit, proceeding or investigation pending or, to the knowledge of the Company, currently
threatened in writing against the Company. There is no action, suit, proceeding or investigation by the Company currently pending or which the Company intends to initiate. 
 (k) Intellectual Property Rights. The Company owns, or has the right to use (or can obtain the right to use on reasonable commercial terms), all copyrights, licenses, trade secrets, mask works or
other proprietary rights, and, to the knowledge of the Company, without having conducted any special investigation or patent search, all patents, trademarks, service names, and trade names, necessary to its business as now conducted or presently
proposed to be conducted without any infringement of the rights of others. The Company has not received any written communication of any pending infringement claims regarding any third party’s patents, copyrights, trademarks, trade secrets or
proprietary rights and processes against the Company. The Company is not aware of any violation by a third party of any of its patents, copyrights, trademarks, trade secrets or other proprietary rights. The Company has taken reasonable security
measures to protect the secrecy, confidentiality and value of its proprietary information and the Company is not aware that any of its employees is obligated under any contract (including licenses, covenants or commitments of any nature) or other
agreement, or subject to any judgment, decree or order of any court or administrative agency, that would interfere with their duties to the Company or that would conflict with the Company’s business as proposed to be conducted. 

(l) Proprietary Information and Invention Assignment. Each employee and technical consultant (e.g., other than professional
service providers such as accountants and attorneys) of the Company has executed a confidential information and invention assignment agreement substantially in the form(s) previously delivered to counsel to the Purchaser. No former or current
employee or technical consultant of the Company has excluded works or inventions made prior to such person’s employment or consultancy with the Company from such person’s assignment of inventions pursuant to such confidential information
and inventions agreement. 
 (m) Liabilities. Except as set forth in the Financial Statements, the Company has no
material liabilities, contingent or otherwise, except current liabilities incurred in the ordinary course of business since the Balance Sheet Date which have not caused and are not expected by the Company to cause a Material Adverse Effect. The
Company and its Subsidiaries have no non-current liabilities other than the loan facility dated June 16, 2009 entered into by the Company and Midcap Funding I, LLC (the “Midcap Facility”), as amended, which had an outstanding
balance of $5,367,081.14 as of January 27, 2010. Except as disclosed in the Financial Statements, the Company and its Subsidiaries have no contingent liabilities. 

  
 12 

 (n) Compliance with Other Instruments. None of the Company and its Subsidiaries is in
violation or default of any term of the Amended Memorandum or Amended Articles, or in any material respect of any provision of any material mortgage, indenture, agreement, instrument or contract to which it is party or by which it is bound or of any
judgment, decree, order or writ, including without limitation the Midcap Facility. The execution, delivery, and performance of and compliance with this Agreement, and the Ancillary Agreements, and the issuance and sale of the Shares, the Warrants
and the Warrant Shares pursuant hereto, and of the Conversion Shares pursuant to the Amended Articles, will not, with or without the passage of time or giving of notice, (i) result in any such violation, (ii) be in conflict with or
constitute a default under any such term, or (iii) result in the creation of any mortgage, pledge, lien, encumbrance or charge upon any of the properties or assets of the Company or its Subsidiaries or the suspension, revocation, impairment,
forfeiture or nonrenewal of any permit, license, authorization or approval applicable to the Company or its Subsidiaries, their business or operations or any of their assets or properties. None of the Company or its Subsidiaries has performed any
act or omitted any act, the occurrence or omission of which would result in the Company’s or its Subsidiary’s loss of any right granted under any license, distribution agreement or other agreement required to be disclosed on the Schedule
of Exceptions, whereby the loss of such right would have a Material Adverse Effect. 
 (o) Agreements. 

(i) Except for the agreements contemplated hereby and agreements between the Company and its employees with respect to sales of Ordinary
Shares and confidentiality and invention assignment agreements, there are no agreements, understandings or proposed transactions between the Company and any of its officers, directors, affiliates, or any affiliate thereof. There are no obligations
of the Company to officers, directors, member, or employees of the Company other than (a) for payment of salary for services rendered, (b) reimbursement for reasonable expenses incurred on behalf of the Company and (c) for other
standard employee benefits made generally available to all employees (including stock option agreements outstanding under any share option plan approved by the Board). None of the officers, directors, key employees or members of the Company is
indebted to the Company. None of the officers, directors, or, to the best of the Company’s knowledge, key employees or members of the Company or any members of their immediate families, has any direct or indirect ownership interest in any firm
or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation that competes with the Company, other than (i) passive investments in publicly traded companies (representing
less than 1% of such company) which may compete with the Company and (ii) service as a board member of a Company due to a person’s affiliation with a venture capital fund or similar institutional investor in such Company. No officer,
director or member, or any member of their immediate families, is, directly or indirectly, interested in any material contract with the Company (other than such contracts as relate to any such person’s ownership of share capital or other
securities of the Company). The Company is not a guarantor or indemnitor of any indebtedness of any third party. 
 (ii) There
are no agreements, understandings, instruments, contracts, proposed transactions, judgments, orders, writs or decrees to which the Company is a party or by which it is bound that may involve (1) obligations (contingent or otherwise) of, or
payments by 

  
 13 

 
the Company in excess of, USD $250,000, (2) the license of any patent, copyright, trade secret or other proprietary right to or from the Company, (3) the granting of any rights
affecting the development, manufacture, licensing, marketing, sale or distribution of the Company’s products or services, or (4) indemnification by the Company with respect to infringements of proprietary rights. 

(p) Taxes. The Company has timely filed all tax returns and reports as required by law. These returns and reports are true and
correct in all material respects. The Company has paid all taxes and other assessments due. 
 (q) Governmental Consents.
Subject in part to information provided by the Purchaser, no consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any United States federal, state or local or Cayman Islands
governmental authority on the part of the Company is required in connection with the consummation of the transactions contemplated by this Agreement, except for filings pursuant to applicable United States state securities or blue sky laws and/or
filings pursuant to Regulation D under the Act. 
 (r) Registration Rights. Except as set forth in the Amended Members
Agreement, the Company is not under any obligation and has not granted any rights to register under the Act any of its presently outstanding securities or any of its securities that may hereafter be issued. 

(s) Permits and Approvals. The Company or its Subsidiaries have all franchises, permits, licenses, approvals and any similar
authority necessary for the conduct of its business as now being conducted by it, the lack of which would have a Material Adverse Effect, and believes it can obtain, without undue burden or expense, any similar authority for the conduct of its
business as presently planned to be conducted. The Company is not aware of any fact, circumstance or other reason that approval of the United States Food and Drug Administration (the “FDA”) to begin manufacturing and marketing the
pharmaceutical product commonly known as Heparin would be denied by the FDA. The Company is not in default in any material respect under any of such franchises, permits, licenses or other similar authority. 

(t) Legal and Regulatory Compliance. 
 (i) The businesses of each of the Company and its Subsidiaries are being conducted in compliance with all federal, state, local or foreign law, statutes or ordinances, common laws, or any rule,
regulation, standard, judgment, order, writ, injunction, decree, arbitration award, agency requirement, license or permit of any governmental entity (collectively, “Laws”), including (A) the Federal Food, Drug and Cosmetic Act,
as amended (including the rules and regulations promulgated thereunder, the “FDCA”); (B) the Public Health Services Act (the “PHSA”) and the regulations promulgated thereunder; (C) federal Medicare and
Medicaid statutes and related state or local statutes or regulations; (D) any comparable foreign Laws for any of the foregoing; (E) the Federal False Claims Act, or any similar state laws; (F) the privacy and security provisions of
the Health Insurance Portability and Accountability Act; and (G) state licensing, disclosure and reporting requirements; except for violations that, individually or in the aggregate, do not have, and could not reasonably be expected to have, a
Material Adverse Effect or prevent, materially delay or materially impair the consummation of the Transactions. 

  
 14 

 (ii) To the knowledge of the Company, no investigation or review by any governmental entity
with respect to the Company or any of its Subsidiaries is pending or threatened, nor has any governmental entity indicated an intention to conduct the same, except for those the outcome of which, individually or in the aggregate, have not had, and
are not reasonably expected to have, a Material Adverse Effect or prevent, materially delay or materially impair the consummation of the Transactions. 
 (iii) The Company and its Subsidiaries have all permits, licenses, certifications, approvals, registrations, consents, authorizations, franchises, variances, exemptions and orders issued or granted by any
governmental entity (“Licenses”) necessary to conduct its business as presently conducted (including all Licenses required by state law, the FDCA, the PHSA and the regulations of the FDA) the lack of which could reasonably be
expected to have a Material Adverse Effect, and all such Licenses are valid and in full force and effect. All applications and other documents, submitted by the Company or the Company’s Subsidiaries to states or to the FDA in connection with a
License, when submitted to the FDA, were true and correct as of the date of submission, except as, individually and in the aggregate, has not had and could not reasonably be expected to have a Material Adverse Effect, and any updates, changes,
corrections or modification to such applications and other documents required under applicable Laws, have been submitted to the governmental entity, except as has not had and could not reasonably be expected to have a Material Adverse Effect.

 (iv) As of the date hereof and to the knowledge of the Company, the Company has not received any written notice or
communication of any material noncompliance with any applicable Law or Licenses that has not been cured. 
 (v) Neither the
Company, any Subsidiary of the Company nor any director, officer, agent or employee of the Company or its Subsidiaries has (i) used any funds for unlawful contributions, gifts, entertainment or other unlawful expenses relating to political
activity, or (ii) made any unlawful payment to foreign or domestic government officials or employees or to foreign or domestic political parties or campaigns or violated any provision of the Foreign Corrupt Practices Act of 1977, as amended, or
any other federal, foreign, or state anti-corruption or anti-bribery Law or requirement applicable to the Company or any Subsidiary of the Company. 
 (vi) Section 4(t)(vi) of the Schedule of Exceptions sets forth a true and complete list of all Regulatory Authorizations from the FDA and any other federal, state, local or foreign governmental
entity that is concerned with or regulates the marketing, sale, use, handling and control, safety, efficacy, reliability or manufacturing of drug or biological products or medical devices or is concerned with or regulates public health care programs
or otherwise has regulatory authority over the development, sale, distribution or manufacturing of Products by the Company or its Subsidiaries ((each, a “Regulatory Authority”) relating to the Company and its Subsidiaries their
Products and the conduct of their business, and there are no other Regulatory Authorizations required for the Company, its Subsidiaries, their Products or the conduct of their business. All such Regulatory Authorizations are, in all material
respects, (A) validly registered 

  
 15 

 
and on file with applicable Regulatory Authorities and (B) in compliance with all formal filing and maintenance requirements and (C) in good standing. The Company and its Subsidiaries
have filed all required notices and responses to notices, supplemental applications, reports (including adverse experience reports) and other information with the FDA and all other applicable Regulatory Authorities. 

(vii) There are no, and have not been, any inspection observations, warning or untitled letters, notices pursuant to 21 U.S.C.
Section 305 or similar documents that assert a lack of compliance with any applicable Laws, Orders, or regulatory requirements that have not been fully resolved or any other Regulatory Authorities, as applicable. None of the Company or any of
its Subsidiaries has knowledge (or has been notified by a third party) of any pending regulatory action, or inquiry of any sort against any of the Company or its Subsidiaries, their Products, any manufacturer, developer or distributor of the
Products (with respect to the Products), any Company partner, or any person that licenses Product Intellectual Property to the Company or a Subsidiary of the Company (with respect to the Products) by the FDA or any other Regulatory Authority, nor
does the Company or any of its Subsidiaries have knowledge or been notified by a third party of the basis for any adverse regulatory action. Without limiting the foregoing, (A) there have been no product recalls, warnings, notifications or
safety alerts conducted or issues by the Company or its Subsidiaries, the FDA or any other Regulatory Authorities or otherwise with respect to the Products, none of the foregoing has been requested or demanded by the FDA or any other Regulatory
Authorities, and there is no reasonable basis for any of the foregoing; and (B) none of the Company, its Subsidiaries or, to the knowledge of the Company, any of their respective agents or contractors, has been convicted of, charged with, or
investigated for, any crime or engaged in any conduct which would reasonably be expected to result in criminal liability, civil fraud charges by a governmental entity, debarment or disqualification by the FDA or any other Regulatory Authority, no
criminal, injunctive, seizure or civil penalty actions have at any time been commenced or threatened by any Regulatory Authority against the Company or any Subsidiary of the Company or, to the knowledge of the Company, any of their respective agents
or subcontractors, and there are no consent decrees or similar actions to which the Company or any Subsidiary of the Company is bound or which relate to their Products. Neither the Company nor any Subsidiary of the Company is employing or utilizing
the services of any individual who has been debarred, excluded, temporarily denied approval or suspended under any Law or Order which relates to the Products or which the Company or any Subsidiary of the Company is barred from employing or
utilizing. Neither the Company nor any Subsidiary of the Company has made any untrue statement of fact or fraudulent statement to the FDA or any other Regulatory Authority nor have they failed to disclose any fact required to be disclosed to the FDA
or any other Regulatory Authority, and to the Company’s knowledge, no Company partner has made any untrue statement of fact or fraudulent statement to the FDA or any other Regulatory Authority relating to the Products, nor to the Company’s
knowledge, has any Company partner failed to disclose any facts required to be disclosed to the FDA or any other Regulatory Authority relating to the Products. 
 (viii) The Company and each Subsidiary of the Company is in compliance in all material respects with all written communications and requirements of the FDA and all other Regulatory Authorities relating
thereto, including all requirements of the FDA and all other Regulatory Authorities. 

  
 16 

 (ix) The Company and its Subsidiaries have made available to the Purchaser complete and
accurate copies all serious adverse event reports, periodic adverse event reports and other pharmacovigilance reports and data, and all other material Regulatory Authority communications, documents and other information submitted to or received from
the FDA or any Regulatory Authority, including inspection reports, warning letters and similar documents, relating to the Company or any Subsidiary of the Company, the conduct of their business or their Products. 

(x) All studies conducted or being conducted with respect to the Company’s and its Subsidiaries’ Products by the Company, any
Subsidiary of the Company or, to the Company’s knowledge, Company partner have been and are being conducted in material compliance with the applicable requirements of Good Laboratory Practices and Good Clinical Practices and those regulations
and guidances that relate to the conduct of clinical studies. All results of such studies, tests and trials, and all other material information related to such studies, tests and trials, have been made available to the Purchaser, including
communications with clinical trial sites. 
 (xi) The manufacture of products by the Company and any Subsidiary of the Company
is, or, in the case of any Products manufactured by a Company partner, to the knowledge of the Company is, being conducted in material compliance with the applicable requirements of current Good Manufacturing Practices. In addition, the Company and
each Subsidiary of the Company and, to the knowledge of the Company, their respective Company partners, are in material compliance with all applicable registration and listing requirements, including, for example, those set forth in 21 U.S.C.
Section 360 and 21 C.F.R. Part 207 and all similar applicable Laws and Orders. No Product sold or in inventory has been adulterated or misbranded. All labeling is in compliance with FDA and other Regulatory Authority requirements, and all
advertising and promotional materials of the Company and each Subsidiary of the Company are in material compliance with the FDA and other applicable Regulatory Authorities. 
 (u) Employees. The Company has no collective bargaining agreements with any of its employees. There is no labor union organizing activity pending or, to the Company’s knowledge, threatened
with respect to the Company. The Company is not a party to or bound by any currently effective employment contract, deferred compensation arrangement, bonus plan, incentive plan, profit sharing plan, retirement agreement or other employee
compensation plan or agreement, other than the Plan and option grants thereunder. No employee of the Company has been granted the right to continued employment by the Company or to any material compensation following termination of employment with
the Company. To the Company’s knowledge, no employee of the Company, nor any consultant with whom the Company has contracted, is in violation of any term of any employment contract, proprietary information agreement or any other agreement
relating to the right of any such individual to be employed by, or to contract with, the Company because of the nature of the business to be conducted by the Company; and to the Company’s knowledge the continued employment by the Company of its
present employees, and the performance of the Company’s contracts with its independent contractors, will not result in any such violation. The Company has not received any notice alleging that any such violation has occurred. No employee of the
Company has been granted the right to continued employment by the Company or to any material compensation following 

  
 17 

 
termination of employment with the Company. The Company is not aware that any officer, or key employee, or that any group of key employees, intends to terminate his, her or their employment with
the Company, nor does the Company have a present intention to terminate the employment of any officer, key employee or group of key employees. 
 (v) Brokers or Finders. The Company has not incurred, and will not incur, directly or indirectly, as a result of any action taken by the Company, any liability for brokerage or finders’ fees
or agents’ commissions or any similar charges in connection with this Agreement or any of the transactions contemplated hereby. 
 (w) Obligations of Management. Each officer and key employee of the Company is currently devoting substantially all of his business time to the conduct of the business of the Company. The Company
is not aware that any officer or key employee of the Company is planning to work less than full time at the Company in the future. No officer or key employee is currently working or, to the Company’s knowledge, plans to work for a competitive
enterprise, whether or not such officer or key employee is or will be compensated by such enterprise. 
 (x) Disclosure.
(i) There is no material fact or information relating to the business, condition (financial or otherwise), affairs, operations, or assets of the Company and the Subsidiaries that has not been disclosed to the Purchaser by the Company,
(ii) none of the Agreements, when taken as a whole, or any other document delivered by the Company to Purchaser in connection with the Agreements, including the Schedule of Exceptions and all supplements thereto, contain any untrue statement of
a material fact or omit to state a material fact necessary to make the statements contained herein or therein not misleading in light of the circumstances under which they were made and (iii) to the Company’s knowledge, its offering and
accepting payment for the Shares, the Warrants and the Warrant Shares will not violate any applicable securities or other laws of the Company’s or any Purchaser’s jurisdiction. The Company does not represent or warrant that it will achieve
any financial projections provided to the Purchaser and represents only that such projections were prepared in good faith and based on assumptions believed by the Company to be reasonable. 

5. Conditions to Closing of the Purchaser. Unless otherwise specifically stated, the Purchaser’s obligation to
purchase the Shares and the Warrants at the Closing is, at the option of the Purchaser, subject to the fulfillment of the following conditions: 
 (a) Representations and Warranties. All of the Company’s representations and warranties in this Agreement (considered collectively), and each of these representations and warranties
(considered individually) shall be true and correct in all material respects as of the Closing Date as if made on the Closing Date, and the Company shall have performed or complied with all obligations and conditions herein required to be performed
or complied with by it on or prior to the Closing. 
 (b) Covenants. All covenants, agreements and conditions contained
in this Agreement to be performed by the Company on or prior to the Closing shall have been complied with or performed. 

  
 18 

 (c) Compliance with Midcap Facility. The Company shall be in material compliance with
the terms of the Midcap Facility or shall have received waivers of such non-compliance from Midcap. 
 (d) Heparin
Approval. The Company shall have received approval from the FDA to begin manufacturing and marketing the pharmaceutical product commonly known as Heparin. 
 (e) Qualifications. All authorizations, approvals or permits, if any, of any governmental authority or regulatory body of the United States, of any state or foreign body that are required in
connection with the lawful issuance and sale of the Shares pursuant to the Agreement and the Ancillary Agreements shall be duly obtained and effective as of the Closing Date, except for such as may be properly obtained subsequent to the Closing.

 (f) Memorandum and Articles of Association. The Amended Memorandum and the Amended Articles shall have been duly
approved by the members of the Company on or prior to the Closing Date and shall be in full force and effect as of the Closing Date. 
 (g) Compliance Certificate. The Company shall have delivered to the Purchaser a Compliance Certificate, executed by the President of the Company, dated the Closing Date, to the effect that the
conditions specified in subsections (a) and (b) of this Section 5 have been satisfied and that there have been no changes to the Schedule of Exceptions delivered in connection with the execution of this Agreement that reflect the
existence of a Material Adverse Effect. 
 (h) Secretary’s Certificate. The Purchasers and/or their investment
manager (as applicable) shall have received from the Company’s Secretary, a certificate having attached thereto (i) the Amended Memorandum and the Amended Articles as in effect at the time of the Closing, (ii) resolutions approved by
the Board of Directors authorizing the transactions contemplated hereby, (iii) resolutions approved by the Company’s members adopting the Amended Articles and authorizing the filing of the Amended Memorandum and the Amended Articles, and
(iv) good standing certificates with respect to the Company from the applicable authority(ies) in the Cayman Islands, dated a recent date before the Closing. 
 (i) Members Agreement. The Company, the Purchaser and certain members of the Company shall have entered into the Amended Members Agreement. 

(j) Voting Agreement. The Company, the Purchaser and certain members of the Company shall have entered into the Amended Voting
Agreement. 
 (k) Co-Sale Agreement. The Company, the Purchaser and certain members of the Company shall have entered
into the Amended Co-Sale Agreement. 
 (l) Legal Opinion. The Purchaser and/or its investment manager (as applicable)
shall have received from Maples and Calder, Cayman Islands counsel to the Company, an opinion addressed to the Purchaser, dated on the Closing Date, in substantially the form attached hereto as Exhibit G. 

  
 19 

 6. Conditions to Closing of the Company. The Company’s obligation
to sell and issue the Shares and the Warrants to the Purchaser at the Closing is, at the option of the Company, subject to the fulfillment as of the Closing Date of the following conditions: 

(a) Representations and Warranties Correct. The representations and warranties made by the Purchaser in Section 3 hereof
shall be true and correct in all material respects as of the Closing Date as if made on the Closing Date, and the Purchaser shall have performed or complied with all obligations and conditions herein required to be performed or complied with by it
on or prior to the Closing. 
 (b) Qualifications. All authorizations, approvals or permits, if any, of any governmental
authority or regulatory body of the United States, of any state or foreign body that are required in connection with the lawful issuance and sale of the Shares pursuant to the Agreement and the Ancillary Agreements shall be duly obtained and
effective as of the Closing Date, except for such as may be properly obtained subsequent to the Closing. 
 (c) Memorandum
and Articles of Association. The Amended Memorandum and the Amended Articles shall have been approved by the members of the Company on or prior to the Closing Date and shall be in full force and effect as of the Closing Date. 

(d) Members Agreement. The Company, the Purchaser and certain members of the Company shall have entered into the Amended Members
Agreement. 
 (e) Voting Agreement. The Company, the Purchaser and certain members of the Company shall have entered into
the Amended Voting Agreement. 
 (f) Co-Sale Agreement. The Company, the Purchaser and certain members of the Company
shall have entered into the Amended Co-Sale Agreement. 
 7. Miscellaneous. 

(a) Intent. The Parties agree to execute such further instruments and to take such further action as may reasonably be necessary to
carry out the intent of this Agreement. 
 (b) Notifications. Between the date of this Agreement and the Closing Date,
the Company will promptly notify the Purchaser in writing if the Company becomes aware of any fact or condition that causes or constitutes a Breach of any of the Company’s representations and warranties as of the date of this Agreement, or if
the Company becomes aware of the occurrence after the date of this Agreement of any fact or condition that would (except as expressly contemplated by this Agreement) cause or constitute a Breach of any such representation or warranty had such
representation or warranty been made as of the time of occurrence or discovery of such fact or condition. Should any such fact or condition require any change in the Schedule of Exceptions if the Schedule of Exceptions were dated the date of the
occurrence or discovery of any such fact or condition, the Company will promptly deliver to the Purchaser a supplement to the Schedule of Exceptions specifying such change. During the same period, the Company will promptly notify the Purchaser of
the occurrence of any Breach of any agreement or covenant of the Company in this Section 7 or of the occurrence of any event that may make the satisfaction of the conditions in Section 5 impossible or unlikely. 

  
 20 

 A “Breach” of a representation, warranty, covenant, obligation, or other provision of this
Agreement or any instrument delivered pursuant to this Agreement will be deemed to have occurred if there is or has been (a) any inaccuracy in or breach of, or any failure to perform or comply with, such representation, warranty, covenant,
obligation, or other provision, or (b) any claim (by any person) or other occurrence or circumstance that is or was inconsistent with such representation, warranty, covenant, obligation, or other provision, or other provision, and the term
“Breach” means any such inaccuracy, breach, failure, claim, occurrence, or circumstance. 
 (c)
Indemnification. The Company shall indemnify, defend and hold the Purchaser harmless from and against all liabilities, losses, and damages actually incurred (excluding consequential damages, lost profits and diminution in value) together with
all reasonable costs and expenses related thereto (including, without limitation, reasonable legal and accounting fees and expenses), arising, directly or indirectly, from or in connection with, (a) any Breach of any representation or warranty
of the Company herein (without giving effect to any supplement to the Schedule of Exceptions); (b) any Breach of any representation or warranty of the Company herein as if such representation or warranty were made on and as of the Closing Date
without giving effect to any supplement to the Schedule of Exceptions, other than such Breach that is disclosed in a supplement to the Schedule of Exceptions and is expressly identified in the certificate delivered pursuant to Section 5(g) as
having caused the condition specified in Section 5(a) not to be satisfied; and (c) the Company not having duly and timely complied with and timely performed any covenant or agreement of the Company herein. The Company will pay as incurred
to the Purchaser and to each person controlling the Purchaser any legal and any other expenses reasonably incurred in connection with investigating or defending any such liability, loss or damage. 

(d) Reorganization. The Company agrees and covenants that if the Company undertakes a corporate reorganization such that
substantially all the assets and businesses currently owned by the Company are transferred to the Wyoming Sub (or another wholly owned subsidiary of the Company to be set up in the future), the Purchaser shall, upon the completion of such corporate
reorganization, be entitled to receive, in exchange for all of their Series B-1 Shares (or rights to purchase Series B-1 Shares, including the Warrants), as applicable, the same number of shares of preferred stock of such entity with substantially
the same rights and privileges as the Series B-1 Shares (or rights to purchase Series B-1 Shares, including the Warrants), as applicable, held by the Purchaser immediately prior to such transaction subject to the Purchaser entering into such
agreements and taking such other actions as reasonably required by the Company to effectuate such transaction. Such right shall be exercisable for 14 calendar days following the completion of such reorganization and shall be exercised solely by an
irrevocable written notice of exercise being delivered by such Purchaser to the Company within such 14 day period. Upon receipt of such notice, the Company shall cause the exchange of shares to be effected as promptly as reasonably practical. Such
right shall not apply to any Deemed Liquidation Event (as defined in the Amended Articles). 
 (e) Employment Agreements with
Senior Management. The Company agrees and covenants that, if requested by the Purchaser, as soon as practical following the Closing, the Company will enter into an employment agreement with each of Jeffrey Yordon and Ron Pauli, in a form
reasonably acceptable to the Purchaser and covering such confidentiality, intellectual property assignment, non-solicitation and non-competition terms and management retention provisions. 

  
 21 

 (f) Expenses. Each Party agrees to pay its own legal fees, costs and expenses
incurred in connection with the transactions contemplated herein, the expenses of which shall be borne by the Company in accordance with its terms. The Company shall pay for the reasonable and documented auditing, legal and other professional fees
and expenses (including direct incremental internal expenses) incurred by the Purchaser in connection with the transactions hereof in an aggregate amount not to exceed USD $250,000. 

(g) Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be sent by
facsimile or mailed by electronic, registered or certified mail or by overnight courier or otherwise delivered by hand or by messenger, addressed: 
 (i) if to the Purchaser, at the Purchaser’s address, as shown on Exhibit A-1 hereto, or at such other address as the Purchaser shall have furnished to the Company in writing, 

with a copy to: 
 Alec P. Tracy 
 Skadden Arps Slate Meagher & Flom LLP 

42/F, Edinburgh Tower, The Landmark 
 15 Queen’s Road Central, Hong Kong 
 Facsimile: (852) 3740-4727

 Email: alec.tracy@skadden.com 
 (ii) if to the Company, at the address of the Company’s principal corporate offices to the attention of President, or at such other address as the Company shall have furnished to the Purchaser in
writing, 
 with a copy to: 
 Carmen Chang 
 Wilson Sonsini Goodrich &Rosati, P.C. 

650 Page Mill Road 
 Palo Alto, CA 94304 
 Facsimile: (650) 493-6811 

Email: cchang@wsgr.com 
 Where a notice is sent by mail, service of the notice shall be effected by properly addressing, pre-paying and mailing a letter containing the notice, and to have been effected at the expiration of three
(3) business days after the letter containing the same is mailed as aforesaid. 
 Where a notice is sent by overnight
courier, service of the notice shall be effected by properly addressing, and sending such notice through an internationally recognized express courier service, delivery fees pre-paid, and to have been effected three (3) business days following
the day the same is sent as aforesaid. 

  
 22 

 Where a notice is delivered by electronic mail, by hand or by messenger, service of the
notice shall be deemed to be effected upon delivery. 
 (h) Confidentiality. Until the Closing, the terms of the
transactions contemplated by this Agreement and the Ancillary Agreements and the identity of Key Gate will be kept strictly confidential by the Company to the extent such information has not been previously publicly disclosed by the Parties.

 (i) Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the
benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the Parties. 
 (j)
Amendment. This Agreement may be amended by a written instrument executed by the Company and the Purchaser. 
 (k)
Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the internal laws of the State of California as such laws are applied to agreements between California residents entered into and to be
performed within California. Each of the Parties irrevocably: (i) agrees that any dispute or controversy arising out of, relating to, or concerning any interpretation, construction, performance or Breach of this Agreement, shall be settled by
arbitration to be held in Santa Clara County, California, in accordance with the rules then in effect of the American Arbitration Association; (ii) waives, to the fullest extent it may effectively do so, any objection which it may now or
hereafter have to the laying of venue of any such arbitration; and (iii) submits to the exclusive jurisdiction of the State of California in any such arbitration. The decision of the arbitrator shall be final, conclusive and binding on the
parties to the arbitration. Judgment may be entered on the arbitrator’s decision in any court having jurisdiction. The parties to the arbitration shall each pay an equal share of the costs and expenses of such arbitration, and each Party shall
separately pay for its respective counsel fees and expenses; provided, however, that the prevailing Party in any such arbitration shall be entitled to recover from the non-prevailing Party its reasonable costs and attorney fees. 

(l) Specific Enforcement. Except as otherwise provided herein, any and all remedies expressly conferred upon a Party by this
Agreement will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such Party, and the exercise by a Party of any one remedy will not preclude the exercise of any other remedy. The Parties agree
that irreparable damage may occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise Breached. It is accordingly agreed that the Parties shall be entitled to jointly
or severally seek an injunction or injunctions to prevent Breaches of this Agreement and to enforce specifically the terms and provisions hereof in any federal or state court in the State of California, this being in addition to any other remedy to
which they are entitled at law or in equity. 
 (m) Survival of Representations and Warranties. The
representations and warranties made herein shall survive for three (3) years after the Closing, except with respect to Sections 4(i) (Title to Property and Assets), 4(k) (Intellectual Property Rights) and 4(p) (Taxes), which will survive
for a period of six (6) years after the Closing, except that all representations and warranties shall expire immediately prior to an IPO (as defined in the Amended Members 

  
 23 

 
Agreement). All statements as to factual matters contained in any certificate or other instrument delivered by or on behalf of the Company pursuant to Sections 5(e) and 5(f) hereof shall be
deemed to be representations and warranties by the Company hereunder solely as of the date of such certificate or instrument. The covenants and agreements made herein shall survive for six (6) years after the Closing, except with respect to
Sections 7(h) (Confidentiality), 7(k) (Governing Law), 7(l) (Specific Enforcement), this Section 7(m) (Survival or Representations and Warranties), and 7(n) (Grossing-Up), which shall survive indefinitely. 

(n) Grossing-Up. All payments to be made by the Company pursuant to this Agreement shall be made in cleared funds, without any
deduction or set-off and free and clear of and without deduction for or on account of all taxes, levies, imports, duties, charges, fees and withholdings of any nature now or hereafter imposed by any governmental, fiscal or other authority save as
required by applicable law. If the Company is compelled by applicable law to make any such deduction, the Company will pay to the Purchaser such additional amounts as are necessary to ensure receipt by the Purchaser of the full amount which it would
have received but for the deduction. 
 (o) Termination. This Agreement may be terminated by any Party, if the Closing
shall not have occurred on or prior to September 30, 2010 (the “End Date”) due to the non-satisfaction of any of the conditions set forth in Section 5 or Section 6, unless the Purchaser has (on or prior to the End
Date), by notice in writing to the Company, elected to extend such period; provided that the right to terminate this Agreement under this Section 7(o) shall not be available to any Party whose Breach of this Agreement has resulted in or
materially contributed to the failure of the Closing to occur on or before such date 
 (p) Broker’s Fees. Each
Party severally represents and warrants that no agent, broker, investment banker, person or firm acting on behalf of or under the authority of such Party is or will be entitled to any broker’s or finder’s fee or any other commission
directly or indirectly in connection with the transactions contemplated herein. Each Party further agrees to indemnify each other Party for any claims, losses or expenses incurred by such other Party as a result of the representation in this
Section 7(p) being untrue. 
 (q) Exculpation By Purchaser. The Purchaser acknowledges that it is not relying upon
any person, firm, or corporation, other than the Company, its officers and directors, and the Purchaser’s own advisors, in making its investment or decision to invest in the Company. 

(r) Counterparts; Facsimiles. This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. A facsimile, telecopy or other reproduction of this Agreement may be executed by one or more Parties and delivered by such Party by facsimile or any similar electronic
transmission device pursuant to which the signature of or on behalf of such Party can be seen. Such execution and delivery shall be considered valid, binding and effective for all purposes. At the request of any Party, all Parties severally agree to
execute and deliver an original of this Agreement as well as any facsimile, telecopy or other reproduction hereof. 

  
 24 

 (s) Titles and Subtitles. The titles and subtitles used in this Agreement are used
for convenience only and are not to be considered in construing or interpreting this Agreement. 
 (t) 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 non -
Breaching or non-defaulting Party nor shall it be construed to be a waiver of any such Breach or default, or an acquiescence therein, or of or in 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. Any waiver, permit, consent or approval of any kind or character on the part of any Party of any Breach or default under this Agreement, or any waiver on
the part of any Party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law otherwise affording to
any Party, shall be cumulative and not alternative. 
 (u) Severability. If one or more provisions of this Agreement are
held to be unenforceable under applicable law, the Parties agree to renegotiate such provision in good faith. In the event that the Parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such
provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms.

 (v) Entire Agreement. This Agreement, and the documents referred to herein constitute the entire agreement between the
Parties to the subject matter hereof, and any and all other written or oral agreements relating to the subject matter hereof existing between the Parties are expressly canceled. 

[Remainder of Page Intentionally Left Blank] 

  
 25 

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

			
	COMPANY:
	
	 SAGENT HOLDING CO.,
 a Cayman Islands exempted company

	
	By: /s/ Jeffrey
Yordon                                        
        
	Name:	 	Jeffrey Yordon
	Title:	 	President and Chief Executive Officer

SIGNATURE PAGE TO SAGENT HOLDING CO.

 SERIES B-1 PREFERENCE SHARES AND WARRANT
PURCHASE AGREEMENT 

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

			
	PURCHASER:
	
	 KEY GATE INVESTMENTS LIMITED,
 a British Virgin Islands company

	
	By: /s/ Andrew
Lo                                         
               
	Name:	 	Andrew Lo
	Title:	 	Director

 SIGNATURE
PAGE TO SAGENT HOLDING CO. 

SERIES B-1 PREFERENCE SHARES AND WARRANT
PURCHASE AGREEMENT 

 Schedule A 
 Schedule of Exceptions 

 Exhibit A-1 

Schedule of Purchasers 
  

																					
	 Name and Address of Purchaser
	  	ERISA
Purchaser	 	  	Type of
Security	 	  	Number of
Shares	 	  	Aggregate
Purchase Price
(USD)	 	  	Purchase
Amount in
Cash (USD)	 
	 Key Gate Investments Limited
  

Address:
 P.O. Box 146

Trident Chambers
 Road Town, Tortola

British Virgin Islands
	  	 	No	  	  	 	Series B-1	  	  	 	21,428,571	  	  	 	$  29,999,999.40	  	  	 	$  29,999,999.40	  
		  				  				  	 	 	 	  	 	 	 	  	 	 	 
	         Total:
	  				  				  	 	21,428,571	  	  	$	29,999,999.40	  	  	$	 29,999,999.40	  
		  				  				  	 	 	 	  	 	 	 	  	 	 	 

 Exhibit A-2 

Regulation S Investors 
 Key Gate Investments LimitedWarrant to Purchase 2,380,952 Preference Shares of Sagent Holding Co.

 Exhibit 10.13 
 THIS WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATE.
THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS IN ACCORDANCE WITH APPLICABLE REGISTRATION REQUIREMENTS OR AN EXEMPTION THEREFROM. THE
ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE, TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. THIS WARRANT MUST
BE SURRENDERED TO THE COMPANY OR ITS TRANSFER AGENT AS A CONDITION PRECEDENT TO THE SALE, TRANSFER, PLEDGE OR HYPOTHECATION OF ANY INTEREST IN ANY OF THE SECURITIES REPRESENTED HEREBY. 

WARRANT TO PURCHASE 2,380,952 PREFERENCE SHARES 
 of 
 SAGENT HOLDING CO. 

Dated as of April 6, 2010 
 Void after the date specified in Section 8 
 THIS CERTIFIES THAT, for
value received, Key Gate Investments Limited, a British Virgin Islands company, or its registered assigns (the “Holder”), is entitled, subject to the provisions and upon the terms and conditions set forth herein, to purchase
from Sagent Holding Co., a Cayman Islands exempted company (the “Company”), Shares (as defined below), in the amounts, at such times and at the price per share set forth in Section 1. The term
“Warrant” as used herein shall include this Warrant and any warrants delivered in substitution or exchange therefor as provided herein. This Warrant is issued in connection with the transactions described in the
Series B-1 Preference Shares and Warrant Purchase Agreement, dated as of April 6, 2010, by and between the Company and the purchaser described therein (the “Purchase Agreement”). The holder of this Warrant is
subject to certain restrictions set forth in the Purchase Agreement and the Third Amended and Restated Members Agreement, dated as of April 6, 2010, by and among the Company and the other parties named therein (the “Members
Agreement”). 
 The following is a statement of the rights of the Holder and the conditions to which this Warrant
is subject, and to which Holder, by acceptance of this Warrant, agrees: 
 1. Number and Price of Shares; Exercise Period.

 (a) Definition of Shares. “Shares” shall mean, at the Holder’s sole option,
either (i) the class and series of Preference Shares issued by the Company to investors in the Company’s next round of equity financing (the “Next Financing”) that occurs following the Series B-1 financing and prior
to the expiration of this Warrant or (ii) the Company’s Series B-1 Preference Shares. If the Next Financing does not occur prior to the expiration of this Warrant or if the Holder elects for the “Shares” to be the
Company’s Series B-1 Preference Shares, “Shares” shall mean the Company’s Series B-1 Preference Shares. 
 (b) Number of Shares. Subject to any previous exercise of the Warrant, the Holder shall have the right to purchase up to the number of Shares that equals the quotient obtained by dividing
(x) USD $5,000,000 by (y) the Exercise Price (as defined below), prior to (or in connection with) the expiration of this Warrant as provided in Section 8. 
 (c) Exercise Price. The exercise price per Share shall be equal to $2.10, subject to adjustment pursuant hereto (the “Exercise Price”). 

 (d) Exercise Period. This Warrant shall be exercisable, in whole or in part,
after the election by the Holder to have the “Shares” be (i) the class and series of Preference Shares issued by the Company to investors in the Next Financing or (ii) Series B-1 Preference Shares in accordance with
Section 1(a) (or in connection with the expiration of this Warrant as set forth in Section 8) and prior to (or in connection with) the expiration of this Warrant as set forth in Section 8. 

2. Exercise of the Warrant. 
 (a) Exercise. The purchase rights represented by this Warrant may be exercised at the election of the Holder, in whole or in part, in accordance with Section 1, by: 

(i) the tender to the Company at its principal office (or such other office or agency as the Company may designate) of a notice of
exercise in the form of Exhibit A (the “Notice of Exercise”), duly completed and executed by or on behalf of the Holder, together with the surrender of this Warrant; and 

(ii) the payment to the Company of an amount equal to (x) the Exercise Price multiplied by (y) the number of Shares being
purchased, by wire transfer or certified, cashier’s or other check acceptable to the Company and payable to the order of the Company. 
 (b) Net Issue Exercise. In lieu of exercising this Warrant pursuant to Section 2(a)(ii), if the fair market value of one Share is greater than the Exercise Price (at the date of
calculation as set forth below), the Holder may elect to receive a number of Shares equal to the value of this Warrant (or of any portion of this Warrant being canceled) by surrender of this Warrant at the principal office of the Company (or such
other office or agency as the Company may designate) together with a properly completed and executed Notice of Exercise reflecting such election, in which event the Company shall issue to the Holder that number of Shares computed using the following
formula: 
  

							
	 X
	  	=	  	Y (A – B)	  	
	  	  	A	  	

 Where: 
  

							
	 X
	  	 	=	  	  	The number of Shares to be issued to the Holder
			
	 Y
	  	 	=	  	  	The number of Shares purchasable under this Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being canceled (at the date of such
calculation)
			
	 A
	  	 	=	  	  	The fair market value of one Share (at the date of such calculation)
			
	 B
	  	 	=	  	  	The Exercise Price (as adjusted to the date of such calculation)

 For purposes of the calculation above, the fair market value of one Share shall be determined by the Board of Directors of the Company, acting in good faith; provided, however, that: 

(i) where a public market exists for the Company’s Ordinary Shares at the time of such exercise, the fair market value per Share
shall be the product of (x) the average of the closing bid and asked prices of the Ordinary Shares or the closing price quoted on the national securities exchange on which the Ordinary Shares is listed as published in the Wall Street
Journal, as applicable, for the ten (10) trading day period ending five (5) trading days prior to the date of determination of fair market value and (y) the number of shares of Ordinary Shares into which each Share is convertible
at the time of such exercise, as applicable; 

  
 -2-

 (ii) if the Warrant is exercised in connection with the Company’s initial public
offering of Ordinary Shares, the fair market value per Share shall be the product of (x) the per share offering price to the public of the Company’s initial public offering and (y) the number of shares of Ordinary Shares into which
each Share is convertible at the time of such exercise, as applicable; and 
 (iii) if the Warrant is exercised in connection
with the a Change of Control, the fair market value per Share shall be equal to the greater of (x) the per share purchase price of Shares in such Change of Control or (y) the product of (A) the per share purchase price of shares of
the Company’s Ordinary Shares in such Change of Control and (B) the number of Ordinary Shares into which each Share is convertible at the time of such exercise, as applicable. 

(c) Share Certificates. The rights under this Warrant shall be deemed to have been exercised and the Shares issuable upon
such exercise shall be deemed to have been issued immediately prior to the close of business on the date this Warrant is exercised in accordance with its terms, and the person entitled to receive the Shares issuable upon such exercise shall be
treated for all purposes as the holder of record of such Shares as of the close of business on such date. As promptly as reasonably practicable on or after such date, the Company shall issue and deliver to the person or persons entitled to receive
the same a certificate or certificates for that number of shares issuable upon such exercise. In the event that the rights under this Warrant are exercised in part and have not expired, the Company shall execute and deliver a new Warrant reflecting
the number of Shares that remain subject to this Warrant. 
 (d) No Fractional Shares or Scrip. No fractional
shares or scrip representing fractional shares shall be issued upon the exercise of the rights under this Warrant. In lieu of such fractional share to which the Holder would otherwise be entitled, the Company shall make a cash payment equal to the
Exercise Price multiplied by such fraction. 
 (e) Conditional Exercise. The Holder may exercise this Warrant
conditioned upon (and effective immediately prior to) consummation of any transaction that would cause the expiration of this Warrant pursuant to Section 8 by so indicating in the notice of exercise. 

(f) Reservation of Shares. The Company agrees during the term the rights under this Warrant are exercisable to take all
reasonable action to reserve and keep available from its authorized and unissued shares of Series B-1 Preference Shares for the purpose of effecting the exercise of this Warrant such number of shares (and shares of Ordinary Shares for issuance on
conversion of such shares) as shall from time to time be sufficient to effect the exercise of the rights under this Warrant; and if at any time the number of authorized but unissued shares of Series B-1 Preference Shares (and shares of Ordinary
Shares for issuance on conversion of such shares) shall not be sufficient for purposes of the exercise of this Warrant in accordance with its terms and the conversion of the Shares, without limitation of such other remedies as may be available to
the Holder, the Company will use all reasonable efforts to take such corporate action as may, in the opinion of counsel, be necessary to increase its authorized and unissued shares of its Series B-1 Preference Shares (and shares of Ordinary Shares
for issuance on conversion of such shares) to a number of shares as shall be sufficient for such purposes. 
 3. Replacement
of the Warrant. Subject to the receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement
reasonably satisfactory in form and substance to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the Company at the expense of the Holder shall execute and deliver, in lieu of this Warrant, a new warrant of
like tenor and amount. 

  
 -3-

 4. Transfer of the Warrant. 

(a) Warrant Register. The Company shall maintain a register (the “Warrant Register”) containing the
name and address of the Holder or Holders. Until this Warrant is transferred on the Warrant Register in accordance herewith, the Company may treat the Holder as shown on the Warrant Register as the absolute owner of this Warrant for all purposes,
notwithstanding any notice to the contrary. Any Holder of this Warrant (or of any portion of this Warrant) may change its address as shown on the Warrant Register by written notice to the Company requesting a change. 

(b) Warrant Agent. The Company may appoint an agent for the purpose of maintaining the Warrant Register referred to in
Section 4(a), issuing the Shares or other securities then issuable upon the exercise of the rights under this Warrant, exchanging this Warrant, replacing this Warrant or conducting related activities. 

(c) Transferability of the Warrant. Subject to the provisions of this Warrant with respect to compliance with the United
States Securities Act of 1933, as amended (the “Securities Act”) and limitations on assignments and transfers, including without limitation compliance with the restrictions on transfer set forth in Section 5, title to
this Warrant may be transferred by endorsement (by the transferor and the transferee executing the assignment form attached as Exhibit B (the “Assignment Form”)) and delivery in the same manner as a negotiable
instrument transferable by endorsement and delivery. 
 (d) Exchange of the Warrant upon a Transfer. On surrender
of this Warrant (and a properly endorsed Assignment Form) for exchange, subject to the provisions of this Warrant with respect to compliance with the Securities Act and limitations on assignments and transfers, the Company shall issue to or on the
order of the Holder a new warrant or warrants of like tenor, in the name of the Holder or as the Holder (on payment by the Holder of any applicable transfer taxes) may direct, for the number of shares issuable upon exercise hereof, and the Company
shall register any such transfer upon the Warrant Register. This Warrant (and the securities issuable upon exercise of the rights under this Warrant) must be surrendered to the Company or its warrant or transfer agent, as applicable, as a condition
precedent to the sale, pledge, hypothecation or other transfer of any interest in any of the securities represented hereby. 

(e) Taxes. In no event shall the Company be required to pay any tax which may be payable in respect of any transfer
involved in the issue and delivery of any certificate in a name other than that of the Holder, and the Company shall not be required to issue or deliver any such certificate unless and until the person or persons requesting the issue thereof shall
have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid or is not payable. 
 5. Restrictions on Transfer of the Warrant and Shares; Compliance with Securities Laws. By acceptance of this Warrant, the Holder agrees to comply with the following: 

(a) Restrictions on Transfers. Subject to Section 5(b), this Warrant may not be transferred or assigned in whole or in
part without the Company’s consent (which shall not be unreasonably withheld), and any attempt by Holder to transfer or assign any rights, duties or obligations that arise under this Warrant without such permission shall be void. Any transfer
of this Warrant or the Shares or the shares of Ordinary Shares issuable upon conversion of the Shares (collectively, the “Securities”) must be in compliance with all applicable federal and state securities laws. The Holder
agrees not to make any sale, assignment, transfer, pledge or other disposition of all or any portion of the Securities, or any beneficial interest therein, unless and until the transferee thereof has agreed in writing for the benefit of the Company
to take and hold such Securities subject to, and to be bound by, the terms and conditions set forth in this Warrant to the same extent as if the transferee were the original Holder hereunder, and 

  
 -4-

 (i) there is then in effect a registration statement under the Securities Act covering such
proposed disposition and such disposition is made in accordance with such registration statement, or 
 (ii)(A) such
Holder shall have given prior written notice to the Company of such Holder’s intention to make such disposition and shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition,
(B) the transferee shall have confirmed to the satisfaction of the Company in writing, substantially in the form of Exhibit A-1, that the Securities are being acquired (i) solely for the transferee’s own account and not as a
nominee for any other party, (ii) for investment and (iii) not with a view toward distribution or resale, and shall have confirmed such other matters related thereto as may be reasonably requested by the Company, and (C) if requested
by the Company, such Holder shall have furnished the Company, at the Holder’s expense, with (i) an opinion of counsel, reasonably satisfactory to the Company, to the effect that such disposition will not require registration of such
Securities under the Securities Act or (ii) a “no action” letter from the Securities and Exchange Commission to the effect that the transfer of such Securities without registration will not result in a recommendation by the staff of
the Securities and Exchange Commission that action be taken with respect thereto, whereupon such Holder shall be entitled to transfer such Securities in accordance with the terms of the notice delivered by the Holder to the Company. 

(b) Permitted Transfers. Permitted transfers include (i) a transfer not involving a change in beneficial ownership, or
(ii) transactions involving the distribution without consideration of Securities by any Holder to (x) a parent, subsidiary or other affiliate of a Holder that is a corporation, (y) any of the Holder’s partners, members or other
equity owners, or retired partners or members, or to the estate of any of its partners, members or other equity owners or retired partners or members, or (z) a venture capital fund that is controlled by or under common control with one or more
general partners or managing members of, or shares the same management company with, the Holder; provided, in each case, that the Holder shall give written notice to the Company of the Holder’s intention to effect such disposition and
shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition. 
 (c)
Investment Representation Statement. Unless the rights under this Warrant are exercised pursuant to an effective registration statement under the Securities Act that includes the Shares with respect to which the Warrant was exercised,
it shall be a condition to any exercise of the rights under this Warrant that the Holder shall have confirmed to the satisfaction of the Company in writing, substantially in the form of Exhibit A-1, that the Shares so purchased are being
acquired solely for the Holder’s own account and not as a nominee for any other party, for investment and not with a view toward distribution or resale and that the Holder shall have confirmed such other matters related thereto as may be
reasonably requested by the Company. 
 (d) Securities Law Legend. The Securities shall (unless otherwise
permitted by the provisions of this Warrant) be stamped or imprinted with a legend substantially similar to the following (in addition to any legend required by state securities laws): 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S PROMULGATED UNDER
THE ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION. HEDGING 

  
 -5-

 
TRANSACTIONS INVOLVING THE SHARES REPRESENTED HEREBY MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT. THIS CERTIFICATE MUST BE SURRENDERED TO THE COMPANY OR ITS TRANSFER AGENT
AS A CONDITION PRECEDENT TO THE SALE, PLEDGE, HYPOTHECATION OR ANY OTHER TRANSFER OF ANY INTEREST IN ANY OF THE SHARES REPRESENTED BY THIS CERTIFICATE. 
 (e) Market Stand-off Legend. The Shares and Ordinary Shares issued upon exercise hereof or conversion thereof shall also be stamped or imprinted with a legend in substantially the following
form: 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE, INCLUDING A
LOCK-UP PERIOD IN THE EVENT OF A PUBLIC OFFERING, AS SET FORTH IN THE WARRANT PURSUANT TO WHICH THESE SHARES WERE ISSUED, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE COMPANY. 

(f) Instructions Regarding Transfer Restrictions. The Holder consents to the Company making a notation on its records and
giving instructions to any transfer agent in order to implement the restrictions on transfer established in this Section 5. 
 (g) Removal of Legend. The legend referring to federal and state securities laws identified in Section 5(d) stamped on a certificate evidencing the Shares (and the Ordinary Shares
issuable upon conversion thereof) and the share transfer instructions and record notations with respect to such securities shall be removed and the Company shall issue a certificate without such legend to the holder of such securities if
(i) such securities are registered under the Securities Act, or (ii) such holder provides the Company with an opinion of counsel reasonably acceptable to the Company to the effect that a sale or transfer of such securities may be made
without registration or qualification. 
 6. Adjustments. Subject to the expiration of this Warrant pursuant to
Section 8, the number and kind of shares purchasable hereunder and the Exercise Price therefor are subject to adjustment from time to time, as follows: 
 (a) Merger or Reorganization. If at any time there shall be any reorganization, recapitalization, merger or consolidation (a “Reorganization”) involving the Company
(other than as otherwise provided for herein or as would cause the expiration of this Warrant under Section 8) in which shares of the Company are converted into or exchanged for securities, cash or other property, then, as a part of such
Reorganization, lawful provision shall be made so that the Holder shall thereafter be entitled to receive upon exercise of this Warrant, the kind and amount of securities, cash or other property of the successor corporation resulting from such
Reorganization, equivalent in value to that which a holder of the Shares deliverable upon exercise of this Warrant would have been entitled in such Reorganization if the right to purchase the Shares hereunder had been exercised immediately prior to
such Reorganization. In any such case, appropriate adjustment (as determined in good faith by the Board of Directors of the successor corporation) shall be made in the application of the provisions of this Warrant with respect to the rights and
interests of the Holder after such Reorganization to the end that the provisions of this Warrant shall be applicable after the event, as near as reasonably may be, in relation to any shares or other securities deliverable after that event upon the
exercise of this Warrant. 
 (b) Reclassification of Shares. If the securities issuable upon exercise of this
Warrant are changed into the same or a different number of securities of any other class or classes by reclassification, capital reorganization, conversion of all outstanding shares of the relevant class or series (other than as would

  
 -6-

 
cause the expiration of this Warrant pursuant to Section 8) or otherwise (other than as otherwise provided for herein) (a “Reclassification”), then, in any such
event, in lieu of the number of Shares which the Holder would otherwise have been entitled to receive, the Holder shall have the right thereafter to exercise this Warrant for a number of shares of such other class or classes of shares that a holder
of the number of securities deliverable upon exercise of this Warrant immediately before that change would have been entitled to receive in such Reclassification, all subject to further adjustment as provided herein with respect to such other
shares. 
 (c) Subdivisions and Combinations. In the event that the outstanding shares of the securities issuable
upon exercise of this Warrant are subdivided (by share split, by payment of a share dividend or otherwise) into a greater number of shares of such securities, the number of Shares issuable upon exercise of the rights under this Warrant immediately
prior to such subdivision shall, concurrently with the effectiveness of such subdivision, be proportionately increased, and the Exercise Price shall be proportionately decreased, and in the event that the outstanding shares of the securities
issuable upon exercise of this Warrant are combined (by reverse share split, reclassification or otherwise) into a lesser number of shares of such securities, the number of Shares issuable upon exercise of the rights under this Warrant immediately
prior to such combination shall, concurrently with the effectiveness of such combination, be proportionately decreased, and the Exercise Price shall be proportionately increased. 

(d) Notice of Adjustments. Upon any adjustment in accordance with this Section 6, the Company shall give notice
thereof to the Holder, which notice shall state the event giving rise to the adjustment, the Exercise Price as adjusted and the number of securities or other property purchasable upon the exercise of the rights under this Warrant, setting forth in
reasonable detail the method of calculation of each. The Company shall, upon the written request of any Holder, furnish or cause to be furnished to such Holder a certificate setting forth (i) such adjustments, (ii) the Exercise Price at
the time in effect and (iii) the number of securities and the amount, if any, of other property that at the time would be received upon exercise of this Warrant. 
 7. Notification of Certain Events. Prior to the expiration of this Warrant pursuant to Section 8, in the event that the Company shall authorize: 

(a) the issuance of any dividend or other distribution on the shares of the Company (other than (i) dividends or distributions
otherwise provided for in Section 6, (ii) repurchases of Ordinary Shares issued to or held by employees, officers, directors or consultants of the Company or its subsidiaries upon termination of their employment or services pursuant to
agreements providing for the right of said repurchase; (iii) repurchases of Ordinary Shares issued to or held by employees, officers, directors or consultants of the Company or its subsidiaries pursuant to rights of first refusal or first offer
contained in agreements providing for such rights; or (iv) repurchases of shares of the Company in connection with the settlement of disputes with any Member), whether in cash, property, shares or other securities; 

(b) the voluntary liquidation, dissolution or winding up of the Company; or 

(c) any transaction resulting in the expiration of this Warrant pursuant to Section 8(b) or 8(c); 

the Company shall send to the Holder of this Warrant at least ten (10) days prior written notice of the date on which a record shall be taken for
any such dividend or distribution specified in clause (a) or the expected effective date of any such other event specified in clause (b) or (c), as applicable. The notice provisions set forth in this section may be shortened or waived
prospectively or retrospectively by the consent of the Holder of this Warrant. 

  
 -7-

 8. Expiration of the Warrant. This Warrant shall expire and shall no longer be
exercisable as of the earlier of: 
 (a) 5:00 p.m., Pacific time, on the date four (4) years from the issuance of this
Warrant; 
 (b)(i) the acquisition of the Company by another entity by means of any transaction or series of related
transactions involving: (A) a sale or conveyance by the Company of all or substantially all of its assets on a consolidated basis (including the sale or exclusive licensing of all or substantially all of the intellectual property assets of the
Company, other than in the ordinary course of business); (B) any acquisition of the Company by another entity, person or group of related entities or persons by means of merger, consolidation, share sale or share sales or other form of
corporate reorganization in which outstanding shares of the Company are exchanged for securities or other consideration issued, or caused to be issued, by the acquiring company or its subsidiary or parent (other than (x) a transaction in which
Members of the Company immediately prior to such transaction beneficially own a majority of the voting shares and a majority of the economic interest of the surviving company immediately following such transaction, (y) a transaction for the
sole purpose of changing the corporate domicile, or (z) a transaction in which shares are sold for the sole purposes of capital raising); or (iii) any other transaction or series of related transactions to which the Company is a party as a
result of which persons, other than the Members of the Company immediately prior to the transaction, beneficially own a majority of the voting power of the surviving entity immediately following such transaction or series of related transactions (a
“Change of Control”); or 
 (c) Immediately prior to the closing of the Company’s first firm
commitment underwritten public offering pursuant to an effective registration statement filed under the Securities Act, or similar securities laws, to the extent applicable, in connection with an offering of securities in such other jurisdiction
with an internationally recognized securities market, covering the offering and sale of the Company’s Ordinary Shares. 

9. No Rights as a Member. Nothing contained herein shall entitle the Holder to any rights as a Member of the Company or to be
deemed the holder of any securities that may at any time be issuable on the exercise of the rights hereunder for any purpose nor shall anything contained herein be construed to confer upon the Holder, as such, any right to vote for the election of
directors or upon any matter submitted to Members at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance of shares, reclassification of shares, change of par value or change of
shares to no par value, consolidation, merger, conveyance or otherwise) or to receive notice of meetings, or to receive dividends or subscription rights or any other rights of a Member of the Company until the rights under the Warrant shall have
been exercised and the Shares purchasable upon exercise of the rights hereunder shall have become deliverable as provided herein. 
 10. Market Stand-off. The Holder of this Warrant hereby agrees that such Holder shall not sell or otherwise transfer, make any short sale of, grant any option for the purchase of, or enter into any
hedging or similar transaction with the same economic effect as a sale, of any Ordinary Shares (or other securities) of the Company held by the Holder (other than those included in the registration) during the one hundred eighty (180) day
period following the effective date of the registration statement for the Company’s initial public offering filed under the Securities Act (or such other period as may be requested by the Company or an underwriter to accommodate regulatory
restrictions on (i) the publication or other distribution of research reports and (ii) analyst recommendations and opinions, including, but not limited to, the restrictions contained in NASD Rule 2711(f)(4) or NYSE
Rule 472(f)(4), or any successor provisions or amendments thereto), provided that all officers and directors of the Company and holders of at least one percent (1%) of the Company’s voting securities are bound by and have
entered into similar agreements. The Holder agrees to execute a market stand-off agreement with the underwriters in the offering in customary form consistent with the provisions of this section. 

  
 -8-

 11. Representations and Warranties of the Holder. By acceptance of this Warrant, the
Holder represents and warrants to the Company as follows: 
 (a) No Registration. The Holder understands that the
Securities have not been, and will not be, registered under the Securities Act by reason of a specific exemption from the registration provisions of the Securities Act, the availability of which depends upon, among other things, the bona fide
nature of the investment intent and the accuracy of the Holder’s representations as expressed herein or otherwise made pursuant hereto. 
 (b) Investment Intent. The Holder is acquiring the Securities for investment for its own account, not as a nominee or agent, and not with a view to, or for resale in connection with, any
distribution thereof. The Holder has no present intention of selling, granting any participation in, or otherwise distributing the Securities, nor does it have any contract, undertaking, agreement or arrangement for the same. 

(c) Investment Experience. The Holder has substantial experience in evaluating and investing in private placement
transactions of securities in companies similar to the Company, and has such knowledge and experience in financial or business matters so that it is capable of evaluating the merits and risks of its investment in the Company and protecting its own
interests. 
 (d) Speculative Nature of Investment. The Holder understands and acknowledges that its investment in
the Company is highly speculative and involves substantial risks. The Holder can bear the economic risk of its investment and is able, without impairing its financial condition, to hold the Securities for an indefinite period of time and to suffer a
complete loss of its investment. 
 (e) Access to Data. The Holder has had an opportunity to ask questions of
officers of the Company, which questions were answered to its satisfaction. The Holder believes that it has received all the information that it considers necessary or appropriate for deciding whether to acquire the Securities. The Holder
understands that any such discussions, as well as any information issued by the Company, were intended to describe certain aspects of the Company’s business and prospects, but were not necessarily a thorough or exhaustive description. The
Holder acknowledges that any business plans prepared by the Company have been, and continue to be, subject to change and that any projections included in such business plans or otherwise are necessarily speculative in nature, and it can be expected
that some or all of the assumptions underlying the projections will not materialize or will vary significantly from actual results. 
 (f) Regulation S.  
 (i) The Holder has been advised and
acknowledges that: (A) the Securities have not been, and when issued, will not be registered under the Act, the securities laws of any state of the United States or the securities laws of any other country; (B) in issuing or selling the
Securities to the Holder, the Company is relying upon the “safe harbor” provided by Regulation S and/or on Section 4(2) under the Act; and (C) in connection with any offer or sale of the Securities, such offer or sale, if not
registered pursuant to the Act, will comply with the applicable requirements set forth in Regulation S or another available exemption from registration. As used herein, the term “United States” means the United States of
America, its territories and possessions, any State of the United States, and the District of Columbia. 
 (ii) The Holder
agrees that its purchase or acquisition of the Securities complies with the applicable requirements of Regulation S. The Holder agrees that the Securities may be offered or sold within the United States or to or for the account of a U.S. person only
pursuant to applicable securities laws. As used herein, the term “U.S. person” (as defined in Regulation S) means: (A) a natural person resident in the United States; (B) any partnership or corporation organized or
incorporated under the laws of the United States; (C) any estate of which any executor or administrator is a U.S. person; (D) any trust of 

  
 -9-

 
which any trustee is a U.S. person; (E) any agency or branch of a foreign entity located in the United States; (F) any nondiscretionary account or similar account (other than an estate
or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. person; (G) any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated and (if an
individual) resident in the United States; and (H) a corporation or partnership organized under the laws of any foreign jurisdiction and formed by a U.S. person principally for the purpose of investing in securities not registered under the
Act, unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a) under the Act) who are not natural persons, estates or trusts. 
 (iii) The Holder has not engaged and will not engage or cause any third party to engage, in any directed selling efforts (as such term is defined in Regulation S) in the United States with respect to the
Securities. 
 (iv) The Holder: (A) is domiciled and has its principal place of business outside the United States;
(B) certifies it is not a U.S. person and is not acquiring the Securities for the account or benefit of any U.S. person; and (C) as of the date above, the Holder or persons acting on the Holder’s behalf in connection therewith are
located outside the United States. 
 (v) The Holder is not a “distributor” (as defined in Regulation S) or a
“dealer” (as defined in the Securities Act). 
 (vi) The Holder acknowledges that the Company shall make a notation
in its stock books regarding the restrictions on transfer set forth in the Warrant and shall transfer such shares on the books of the Company only to the extent consistent therewith. In particular, the Holder acknowledges that the Company shall
refuse to register any transfer of the Securities not made in accordance with the provisions of Regulation S, pursuant to registration under the Act or pursuant to an available exemption from registration. 

(vii) The Holder understands and agrees that each certificate held by the Holder shall bear the legend set forth in Section 5(d)
above (in addition to any legend required under applicable state securities laws). 
 (viii) The Holder hereby represents that
the Holder is satisfied as to the full observance of the laws of the Holder’s jurisdiction in connection with any invitation to subscribe for the Securities or any use of the Warrant, including (A) the legal requirements within the
Holder’s jurisdiction for the purchase or acquisition of the Securities, (B) any foreign exchange restrictions applicable to such purchase or acquisition, (C) any governmental or other consents that may need to be obtained and
(iv) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of such securities. The Holder’s acquisition, or subscription and payment for, and the Holder’s
continued beneficial ownership of, the Securities will not violate any applicable securities or other laws of the Holder’s jurisdiction. 
 (g) Principal Place of Business. The principal place of business of the Holder is correctly set forth on the signature page hereto. 

(h) Restrictions on Resales. The Holder acknowledges that the Securities must be held indefinitely unless subsequently
registered under the Securities Act or an exemption from such registration is available. The Holder is aware of the provisions of Rule 144 promulgated under the Securities Act which provides for a non-exclusive safe harbor to exempt resales of
shares purchased in a private placement from the registration requirements of the Securities Act, subject to the satisfaction of certain conditions. The Holder understands that the current public information requirement of Rule 144 is not now
available and the Company has no present plans to make such information available. The Holder acknowledges and 

  
 -10-

 
understands that notwithstanding any obligation under the Members Agreement, the Company may not be satisfying the current public information requirement of Rule 144 at the time the Holder wishes
to sell the Shares, the Warrants, the Warrant Shares or the Conversion Shares, and that, in such event, the Holder may be precluded from selling such securities under Rule 144, even if the other applicable requirements of Rule 144 are satisfied. The
Holder acknowledges that, in the event the applicable requirements of Rule 144 are not met, registration under the Securities Act or another exemption from registration will be required for any disposition of the Shares or the underlying Common
Stock. The Holder understands that, although Rule 144 is not exclusive, the Securities and Exchange Commission has expressed its opinion that persons proposing to sell restricted securities received in a private offering other than in a registered
offering or pursuant to Rule 144 will have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales and that such persons and the brokers who participate in the transactions do so at
their own risk. 
 (i) Brokers and Finders. The Holder has not engaged any brokers, finders or agents in
connection with the Securities, and the Company has not incurred nor will incur, directly or indirectly, as a result of any action taken by the Holder, any liability for brokerage or finders’ fees or agents’ commissions or any similar
charges in connection with the Securities. 
 (j) Legal Counsel. The Holder has had the opportunity to review this
Warrant, the exhibits and schedules attached hereto and the transactions contemplated by this Warrant with its own legal counsel. The Holder is not relying on any statements or representations of the Company or its agents for legal advice with
respect to this investment or the transactions contemplated by this Warrant. 
 (k) Tax Advisors. The Holder has
reviewed with its own tax advisors the U.S. federal, state and local and non-U.S. tax consequences of this investment and the transactions contemplated by this Warrant. With respect to such matters, the Holder relies solely on any such advisors and
not on any statements or representations of the Company or any of its agents, written or oral. The Holder understands that it (and not the Company) shall be responsible for its own tax liability that may arise as a result of this investment and the
transactions contemplated by this Warrant. 
 12. Miscellaneous. 

(a) Amendments. Except as expressly provided herein, neither this Warrant nor any term hereof may be amended, waived,
discharged or terminated other than by a written instrument referencing this Warrant and signed by the Company and the Holder. 

(b) Waivers. No waiver of any single breach or default shall be deemed a waiver of any other breach or default theretofore
or thereafter occurring. 
 (c) Notices. All notices and other communications required or permitted hereunder
shall be in writing and shall be mailed by registered or certified mail, postage prepaid, sent by facsimile or electronic mail (if to the Holder) or otherwise delivered by hand, messenger or courier service addressed: 

(i) if to the Holder, to the Holder at the Holder’s address, facsimile number or electronic mail address as shown in the
Company’s records, as may be updated in accordance with the provisions hereof, or until any such Holder so furnishes an address, facsimile number or electronic mail address to the Company, then to and at the address, facsimile number or
electronic mail address of the last holder of this Warrant for which the Company has contact information in its records; or 

(ii) if to the Company, to the attention of the President of the Company at the Company’s address as shown on the signature page
hereto, or at such other address as the Company shall have furnished to the Holder, with a copy to Carmen Chang, Wilson Sonsini Goodrich & Rosati, P.C., 650 Page Mill Road, Palo Alto, CA 94304. 

  
 -11-

 Each such notice or other communication shall for all purposes of this Warrant be treated as
effective or having been given (i) if delivered by hand, messenger or courier service, when delivered, or (ii) if sent by mail, at the earlier of its receipt or 72 hours after the same has been deposited in a regularly maintained
receptacle for the deposit of the United States mail, addressed and mailed as aforesaid, or (iii) if sent by facsimile, upon confirmation of facsimile transfer or, if sent by electronic mail, upon confirmation of delivery when directed to the
relevant electronic mail address. In the event of any conflict between the Company’s books and records and this Warrant or any notice delivered hereunder, the Company’s books and records will control absent fraud or error. 

(d) Governing Law. This Warrant and all actions arising out of or in connection with this Warrant shall be governed by and
construed in accordance with the laws of the State of California, without regard to the conflicts of law provisions of the State of California, or of any other state. 
 (e) Jurisdiction and Venue. Each of the Holder and the Company irrevocably consents to the exclusive jurisdiction and venue of any court within Santa Clara County, State of California in
connection with any matter based upon or arising out of this Warrant or the matters contemplated herein, and agrees that process may be served upon them in any manner authorized by the laws of the State of California for such persons. 

(f) Titles and Subtitles. The titles and subtitles used in this Warrant are used for convenience only and are not to be
considered in construing or interpreting this Warrant. All references in this Warrant to sections, paragraphs and exhibits shall, unless otherwise provided, refer to sections and paragraphs hereof and exhibits attached hereto. 

(g) Severability. If any provision of this Warrant becomes or is declared by a court of competent jurisdiction to be
illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Warrant, and such illegal, unenforceable or void provision shall be replaced with a valid and
enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, unenforceable or void provision. The balance of this Warrant shall be enforceable in accordance with its terms.

 (h) Waiver of Jury Trial. EACH OF THE HOLDER AND THE COMPANY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW,
ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATED TO THIS WARRANT. If the waiver of jury trial set forth in this paragraph is not enforceable, then
any claim or cause of action arising out of or relating to this Warrant shall be settled by judicial reference pursuant to California Code of Civil Procedure Section 638 et seq. before a referee sitting without a jury, such referee to be
mutually acceptable to the parties or, if no agreement is reached, by a referee appointed by the Presiding Judge of the California Superior Court for Santa Clara County. This paragraph shall not restrict the Holder or the Company from exercising
remedies under the Uniform Commercial Code or from exercising pre-judgment remedies under applicable law. 
 (i)
California Corporate Securities Law. THE SALE OF THE SECURITIES THAT ARE THE SUBJECT OF THIS WARRANT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE
PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR TO SUCH QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM QUALIFICATION BY SECTION 25100, 25102, OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS
OF ALL PARTIES TO THIS WARRANT ARE EXPRESSLY CONDITIONED UPON THE QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT. 

  
 -12-

 (j) Rights and Obligations Survive Exercise of the Warrant. Except as
otherwise provided herein, the rights and obligations of the Company and the Holder under this Warrant shall survive exercise of this Warrant. 
 (k) Entire Agreement. Except as expressly set forth herein, this Warrant (including the exhibits attached hereto) constitutes the entire agreement and understanding of the Company and the
Holder with respect to the subject matter hereof and supersede all prior agreements and understandings relating to the subject matter hereof. 
 (signature page follows) 

  
 -13-

 The Company and the Holder sign this Warrant as of the date stated on the first page.

  

			
	SAGENT HOLDING CO.
		
	By:	 	 /s/ Jeffrey Yordon

	Name:	 	Jeffrey Yordon
	Title:	 	President and Chief Executive Officer
	
	Address:
	1901 N. Roselle Rd.
	Schaumburg, IL 60195
	U.S.A.

  

			
	AGREED AND ACKNOWLEDGED,
	
	KEY GATE INVESTMENTS LIMITED
		
	By:	 	 /s/ Andrew Lo

	Name:	 	Andrew Lo
	Title:	 	Director
	
	Address:
	P.O. Box 146
	Trident Chambers
	Road Town, Tortola
	British Virgin Islands

[Signature Page to Warrant to Purchase Preference Shares of Sagent Holding Co.] 

 EXHIBIT A 
 NOTICE OF EXERCISE 
  

			
	 TO:
	  	Sagent Holding Co.
		
	 Attention:
	  	President

  

	(1)	Exercise. The undersigned elects to purchase the following pursuant to the terms of the attached warrant: 

 

					
	Number of shares:	 	  
	  	
			
	Type of security:	 	  
	  	

  

	(2)	Method of Exercise. The undersigned elects to exercise the attached warrant pursuant to: 

 

			
	  ̈
	  	A cash payment, and tenders herewith payment of the purchase price for such shares in full, together with all applicable transfer taxes, if any.
		
	  ̈
	  	The net issue exercise provisions of Section 2(b) of the attached warrant.

  

	(3)	Conditional Exercise. Is this a conditional exercise pursuant to Section 2(e): 

 

											
	 ̈	 	Yes            	  	 ̈  	  	No	  		  	
		
	If “Yes,” indicate the applicable condition:	  	
	  
	  	

  

	(4)	Share Certificate. Please issue a certificate or certificates representing the shares in the name of: 

 

							
	  ̈
	  	The undersigned	  		  	
				
	 ̈	  	Other—Name:	  	  
	  	
				
		  	Address:	  	  
	  	
				
		  		  	  
	  	

  

	(5)	Unexercised Portion of the Warrant. Please issue a new warrant for the unexercised portion of the attached warrant in the name of: 

 

							
	  ̈
	  	The undersigned	  		  	
				
	 ̈	  	Other—Name:	  	  
	  	
				
		  	Address:	  	  
	  	
				
		  		  	  
	  	
	 ̈	  	Not applicable	  		  	

  
 A-1

  

	(6)	Investment Intent. The undersigned represents and warrants that the aforesaid shares are being acquired for investment for its own account, not as a nominee or
agent, and not with a view to, or for resale in connection with, the distribution thereof, and that the undersigned has no present intention of selling, granting any participation in, or otherwise distributing the shares, nor does it have any
contract, undertaking, agreement or arrangement for the same, and all representations and warranties of the undersigned set forth in Section 11 of the attached warrant are true and correct as of the date hereof. 

 

	(7)	Investment Representation Statement and Market Stand-Off Agreement. The undersigned has executed, and delivers herewith, an Investment Representation Statement
and Market Stand-Off Agreement in a form substantially similar to the form attached to the warrant as Exhibit A-1. 

  

	
	
	  

	(Print name of the warrant holder)
	
	  

	(Signature)
	
	  

	(Name and title of signatory, if applicable)
	
	  

	(Date)
	
	  

	(Fax number)
	
	  

	(Email address)

(Signature page to the Notice of Exercise) 

  
 A-2

 EXHIBIT A-l 

INVESTMENT REPRESENTATION STATEMENT 
 AND 
 MARKET STAND-OFF AGREEMENT 

 

					
	INVESTOR:	 	  
	 	
		
	COMPANY:	 	SAGENT HOLDING CO.
		
	SECURITIES:	 	THE WARRANT TO PURCHASE 2,380,952 PREFERENCE SHARES ISUED ON APRIL 6, 2010 (THE “WARRANT”) AND THE SECURITIES ISSUED OR ISSUABLE UPON EXERCISE
THEREOF (INCLUDING UPON SUBSEQUENT CONVERSION OF THOSE SECURITIES)
			
	DATE:	 	  
	 	

 In connection with the purchase or acquisition of the above-listed Securities, the undersigned
Investor represents and warrants to, and agrees with, the Company as follows: 
 1. No Registration. The Investor
understands that the Securities have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), by reason of a specific exemption from the registration provisions of the
Securities Act, the availability of which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Investor’s representations as expressed herein or otherwise made pursuant hereto.

 2. Investment Intent. The Investor is acquiring the Securities for investment for its own account, not as a nominee or
agent, and not with a view to, or for resale in connection with, any distribution thereof. The Investor has no present intention of selling, granting any participation in, or otherwise distributing the Securities, nor does it have any contract,
undertaking, agreement or arrangement for the same. 
 3. Investment Experience. The Investor has substantial experience
in evaluating and investing in private placement transactions of securities in companies similar to the Company, and has such knowledge and experience in financial or business matters so that it is capable of evaluating the merits and risks of its
investment in the Company and protecting its own interests. 
 4. Speculative Nature of Investment. The Investor
understands and acknowledges that its investment in the Company is highly speculative and involves substantial risks. The Investor can bear the economic risk of its investment and is able, without impairing its financial condition, to hold the
Securities for an indefinite period of time and to suffer a complete loss of its investment. 
 5. Access to Data. The
Investor has had an opportunity to ask questions of officers of the Company, which questions were answered to its satisfaction. The Investor believes that it has received all the information that it considers necessary or appropriate for deciding
whether to acquire the Securities. The Investor understands that any such discussions, as well as any information issued by the Company, were intended to describe certain aspects of the Company’s business and prospects, but were not necessarily
a thorough or exhaustive description. The Investor acknowledges that any business plans prepared by the Company have been, and continue to be, subject to change and that any projections included in such business plans or otherwise are necessarily
speculative in nature, and it can be expected that some or all of the assumptions underlying the projections will not materialize or will vary significantly from actual results. 

  
 A-1-1

 6. Regulation S.  

(l) The Investor has been advised and acknowledges that: (i) the Securities have not been, and when issued, will not be registered
under the Securities Act, the securities laws of any state of the United States or the securities laws of any other country; (ii) in issuing or selling the Securities to the Investor, the Company is relying upon the “safe harbor”
provided by Regulation S and/or on Section 4(2) under the Securities Act; and (iii) in connection with any offer or sale of the Securities, such offer or sale, if not registered pursuant to the Securities Act, will comply with the
applicable requirements set forth in Regulation S or another available exemption from registration. As used herein, the term “United States” means the United States of America, its territories and possessions, any State of
the United States, and the District of Columbia. 
 (m) The Investor agrees that its purchase or acquisition of the Securities
complies with the applicable requirements of Regulation S. The Investor agrees that the Securities may be offered or sold within the United States or to or for the account of a U.S. person only pursuant to applicable securities laws. As used herein,
the term “U.S. person” (as defined in Regulation S) means: (A) a natural person resident in the United States; (B) any partnership or corporation organized or incorporated under the laws of the United States;
(C) any estate of which any executor or administrator is a U.S. person; (D) any trust of which any trustee is a U.S. person; (E) any agency or branch of a foreign entity located in the United States; (F) any nondiscretionary
account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. person; (G) any discretionary account or similar account (other than an estate or trust) held by a dealer or
other fiduciary organized, incorporated and (if an individual) resident in the United States; and (H) a corporation or partnership organized under the laws of any foreign jurisdiction and formed by a U.S. person principally for the purpose of
investing in securities not registered under the Securities Act, unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a) under the Securities Act) who are not natural persons, estates or trusts.

 (n) The Investor has not engaged and will not engage or cause any third party to engage, in any directed selling efforts (as
such term is defined in Regulation S) in the United States with respect to the Securities. 
 (o) The Investor: (i) is
domiciled and has its principal place of business outside the United States; (ii) certifies it is not a U.S. person and is not acquiring the Securities for the account or benefit of any U.S. person; and (iii) as of the date above, the
Investor or persons acting on the Investor’s behalf in connection therewith is located outside the United States. 
 (p)
The Investor is not a “distributor” (as defined in Regulation S) or a “dealer” (as defined in the Securities Act). 
 (q) The Investor acknowledges that the Company shall make a notation in its stock books regarding the restrictions on transfer set forth in the Warrant and shall transfer such shares on the books of the
Company only to the extent consistent therewith. In particular, the Investor acknowledges that the Company shall refuse to register any transfer of the Securities not made in accordance with the provisions of Regulation S, pursuant to registration
under the Securities Act or pursuant to an available exemption from registration. 
 (r) The Investor understands and agrees
that each certificate held by the Investor shall bear the legend set forth in Section 5(d) of the Warrant (in addition to any legend required under applicable state securities laws). 

  
 A-1-2

 (s) The Investor hereby represents that the Investor is satisfied as to the full observance
of the laws of the Investor’s jurisdiction in connection with any invitation to subscribe for the Securities or any use of the Warrant, including (i) the legal requirements within the Investor’s jurisdiction for the purchase or
acquisition of the Securities, (ii) any foreign exchange restrictions applicable to such purchase or acquisition, (iii) any governmental or other consents that may need to be obtained and (iv) the income tax and other tax
consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of such securities. The Investor’s acquisition, or subscription and payment for, and the Investor’s continued beneficial ownership of, the
Securities will not violate any applicable securities or other laws of the Investor’s jurisdiction. 
 7. Residency.
The residency of the Investor (or, in the case of a partnership or corporation, such entity’s principal place of business) is correctly set forth on the signature page hereto. 

8. Restrictions on Resales. The Investor acknowledges that the Securities must be held indefinitely unless subsequently registered
under the Securities Act or an exemption from such registration is available. The Investor is aware of the provisions of Rule 144 promulgated under the Securities Act which provides for a non-exclusive safe harbor to exempt resales of shares
purchased in a private placement from the registration requirements of the Securities Act, subject to the satisfaction of certain conditions. The Investor understands that the current public information requirement of Rule 144 is not now available
and the Company has no present plans to make such information available. The Investor acknowledges and understands that the Company may not be satisfying the current public information requirement of Rule 144 at the time the Investor wishes to sell
the Securities, and that, in such event, the Investor may be precluded from selling such Securities under Rule 144, even if the other applicable requirements of Rule 144 are satisfied. The Investor acknowledges that, in the event the applicable
requirements of Rule 144 are not met, registration under the Securities Act or another exemption from registration will be required for any disposition of the Securities. The Investor understands that, although Rule 144 is not exclusive, the
Securities and Exchange Commission has expressed its opinion that persons proposing to sell restricted securities received in a private offering other than in a registered offering or pursuant to Rule 144 will have a substantial burden of proof in
establishing that an exemption from registration is available for such offers or sales and that such persons and the brokers who participate in the transactions do so at their own risk. 

9. Brokers and Finders. The Investor has not engaged any brokers, finders or agents in connection with the Securities, and the
Company has not incurred nor will incur, directly or indirectly, as a result of any action taken by the Investor, any liability for brokerage or finders’ fees or agents’ commissions or any similar charges in connection with the Securities.

 10. Legal Counsel. The Investor has had the opportunity to review the Warrant, the exhibits and schedules attached
thereto and the transactions contemplated by the Warrant with its own legal counsel. The Investor is not relying on any statements or representations of the Company or its agents for legal advice with respect to this investment or the transactions
contemplated by the Warrant. 
 11. Tax Advisors. The Investor has reviewed with its own tax advisors the U.S. federal,
state and local and non-U.S. tax consequences of this investment and the transactions contemplated by the Warrant. With respect to such matters, the Investor relies solely on such advisors and not on any statements or representations of the Company
or any of its agents, written or oral. The Investor understands that it (and not the Company) shall be responsible for its own tax liability that may arise as a result of this investment or the transactions contemplated by the Warrant. 

12. Market Stand-off. The Investor agrees that the Investor shall not sell or otherwise transfer, make any short sale of, grant
any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, of any Ordinary Shares (or other securities) of the Company held by 

  
 A-1-3

 
the Holder (other than those included in the registration) during the one hundred eighty (180) day period following the effective date of the registration statement for the Company’s
initial public offering filed under the Securities Act (or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (i) the publication or other distribution of research reports and
(ii) analyst recommendations and opinions, including, but not limited to, the restrictions contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto), provided that all officers
and directors of the Company and holders of at least one percent (1%) of the Company’s voting securities are bound by and have entered into similar agreements. The Holder agrees to execute a market stand-off agreement with the underwriters
in the offering in customary form consistent with the provisions of this section. 
 (signature page follows)

  
 A-1-4

 The Investor is signing this Investment Representation Statement and Market Stand-Off
Agreement on the date first written above. 
  

	
	INVESTOR:
	
	  

	(Print name of the investor)
	
	  

	(Signature)
	
	  

	(Name and title of signatory, if applicable)
	
	  

	(Street address)
	
	  

	(City, state and ZIP)

  
 A-1-5

 EXHIBIT B 
 ASSIGNMENT FORM 

					
	ASSIGNOR:	  	  
	  	
		
	COMPANY:	  	SAGENT HOLDING CO.
		
	WARRANT:	  	THE WARRANT TO PURCHASE 2,380,952 PREFERENCE SHARES ISSUED ON APRIL 6, 2010 (THE “WARRANT”)
			
	DATE:	  	  
	  	

  

	(1)	Assignment. The undersigned registered holder of the Warrant (“Assignor”) assigns and transfers to the assignee named below
(“Assignee”) all of the rights of Assignor under the Warrant, with respect to the number of shares set forth below: 

  

							
	Name of Assignee:	 	  

		
	Address of Assignee:	 	  

		
		 	  

		
	Number of Shares Assigned:	 	  

and does irrevocably constitute and appoint
                             as attorney to make such transfer on the books of Sagent Holding Co.,
maintained for the purpose, with full power of substitution in the premises. 
  

	(2)	Obligations of Assignee. Assignee agrees to take and hold the Warrant and any shares to be issued upon exercise of the rights thereunder (and any shares issuable
upon conversion thereof) (the “Securities”) subject to, and to be bound by, the terms and conditions set forth in the Warrant to the same extent as if Assignee were the original holder thereof. 

 

	(3)	Investment Intent. Assignee represents and warrants that the Securities are being acquired for investment for its own account, not as a nominee or agent, and not
with a view to, or for resale in connection with, the distribution thereof, and that Assignee has no present intention of selling, granting any participation in, or otherwise distributing the shares, nor does it have any contract, undertaking,
agreement or arrangement for the same, and all representations and warranties set forth in Section 11 of the Warrant are true and correct as to Assignee as of the date hereof. 

 

	(4)	Investment Representation Statement and Market Stand-Off Agreement. Assignee has executed, and delivers herewith, an Investment Representation Statement and
Market Stand-Off Agreement in a form substantially similar to the form attached to the Warrant as Exhibit A-1. 

  

			
	 5
	  	B - 1 -

 Assignor and Assignee are signing this Assignment Form on the date first set forth above.

  

					
	ASSIGNOR	 		 	ASSIGNEE
			
	  
	 		 	  

	(Print name of Assignor)	 		 	(Print name of Assignee)
			
	  
	 		 	  

	(Signature of Assignor)	 		 	(Signature of Assignee)
			
	  
	 		 	  

	(Print name of signatory, if applicable)	 		 	(Print name of signatory, if applicable)
			
	  
	 		 	  

	(Print title of signatory, if applicable)	 		 	(Print title of signatory, if applicable)
			
	  
	 		 	  

			
	Address:	 		 	Address:
			
	  
	 		 	  

			
	  
	 		 	  

  
 B - 2 -

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