Document:

Warrant to Purchase Shares of Series D Preferred Stock

 Exhibit 4.5 
 STOCK PURCHASE WARRANT 
 To Subscribe for and Purchase 
 Series D Convertible Preferred Stock of 
 Devax, Inc. 
 THIS CERTIFIES THAT, for value received, Piper Jaffray & Co. (herein called “Purchaser”),
or registered assigns, is entitled to subscribe for and purchase from Devax, Inc. (herein called the “Company”), a corporation organized and existing under the laws of the State of Delaware, at the price specified below (subject to
adjustment as noted below) at any time after the date hereof to and including the earlier of (i) five (5) years, (ii) the second anniversary of the initial underwritten public offering of the Company’s Common Stock which, in
accordance with the terms of the Preferred Stock, requires the mandatory conversion of the Preferred Stock or (iii) the occurrence of any event set forth in Section 4(c) below (the “Expiration Date”), 91,247 fully paid and
nonassessable shares of Series D Convertible Preferred Stock (herein the “Preferred Stock”) (subject to adjustment as noted below). This Warrant has been issued pursuant to an Engagement Agreement dated as of April 29, 2005 (the
“Agreement”) between the Purchaser and the Company. 
 The warrant purchase price (subject to adjustment as noted below) shall be
$3.77 per share. 
 This Warrant is subject to the following provisions, terms and conditions: 
 1. The rights represented by this Warrant may be exercised by the holder hereof, in whole or in part, by written notice of exercise delivered to the
Company and by the surrender of this Warrant (properly endorsed if required) at the principal office of the Company and upon payment to it by check of the purchase price for such shares. The Company agrees that the shares so purchased shall be and
are deemed to be issued to the holder hereof as the record owner of such shares as of the close of business on the date on which this Warrant shall have been surrendered and payment made for such shares as aforesaid. Subject to the provisions of the
next succeeding paragraph, certificates for the shares of stock so purchased shall be delivered to the holder hereof within a reasonable time, not exceeding 10 days, after the rights represented by this Warrant shall have been so exercised, and,
unless this Warrant has expired, a new Warrant representing the number of shares, if any, with respect to which this Warrant shall not then have been exercised shall also be delivered to the holder hereof within such time. 
 2. Notwithstanding the foregoing, however, the Company shall not be required to deliver any certificate for shares of stock upon exercise of this Warrant
except in accordance with the provisions, and subject to the limitations, of paragraph 7 hereof. 
 3. The Company represents and
warrant that this Warrant has been duly authorized by all necessary corporate action, has been duly executed and delivered and is a legal and binding obligation of the Company. The Company covenants and agrees that all shares which may be issued
upon the exercise of the rights represented by this Warrant according to the terms hereof or represented by the Preferred Stock will, upon issuance, be duly authorized and issued, 

 
fully paid and nonassessable. The Company further covenants and agrees that during the period within which the rights represented by this Warrant may be
exercised or the Preferred Stock may be converted into Common Stock of the Company (“Common Stock”), the Company will at all times have authorized, and reserved for the purpose of issue or transfer upon exercise of the subscription rights
evidenced by this Warrant or conversion of the Preferred Stock, a sufficient number of shares of its Preferred Stock or Common Stock to provide for the exercise of the rights represented by this Warrant or the Preferred Stock. The holder of this
Warrant hereby acknowledges that the rights, privileges and preferences of the Preferred Stock may change. 
 4. The above provisions are,
however, subject to the following: 
 (a) The warrant purchase price shall, from and after the date of issuance of this Warrant, be subject to
adjustment from time to time as hereinafter provided. Upon each adjustment of the warrant purchase price, the holder of this Warrant shall thereafter be entitled to purchase, at the warrant purchase price resulting from such adjustment, the number
of shares obtained by multiplying the warrant purchase price in effect immediately prior to such adjustment by the number of shares purchasable pursuant hereto immediately prior to such adjustment and dividing the product thereof by the warrant
purchase price resulting from such adjustment. 
 (b) In case the Company shall (i) declare a dividend upon the Preferred Stock payable
in Preferred Stock (other than a dividend declared to effect a subdivision of the outstanding shares of Preferred Stock, as described in subparagraph (b) below) or any obligations or any shares of stock of the Company which are convertible into
or exchangeable for Preferred Stock (such obligations or shares of stock being hereinafter referred to as “Convertible Securities”), or in any rights or options to purchase any Preferred Stock or Convertible Securities, or
(ii) declare any other dividend or make any other distribution upon the Preferred Stock payable otherwise than out of earnings or earned surplus, then thereafter the holder of this Warrant upon the exercise hereof will be entitled to receive
the number of shares of Preferred Stock to which such holder shall be entitled upon such exercise, and, in addition and without further payment therefor, such number of shares of Preferred Stock, such that upon exercise hereof, such holder would
receive such number of shares of Preferred Stock as a result of each dividend described in clause (i) above and each dividend or distribution described in clause (ii) above which such holder would have received by way of any such dividend
or distribution if continuously since the record date for any such dividend or distribution such holder (i) had been the record holder of the number of shares of Preferred Stock then received, and (ii) had retained all dividends or
distributions in stock or securities (including Preferred Stock or Convertible Securities, or in any rights or options to purchase any Preferred Stock or Convertible Securities) payable in respect of such Preferred Stock or in respect of any stock
or securities paid as dividends or distributions and originating directly or indirectly from such Preferred Stock. For the purposes of the foregoing, a dividend or distribution other than in cash shall be considered payable out of earnings or
surplus only to the extent that such earnings or surplus are charged an amount equal to the fair value of such dividend as determined by the Board of Directors of the Company. 
  

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 (c) In case the Company shall at any time subdivide its outstanding shares of Preferred Stock into a
greater number of shares, the warrant purchase price in effect immediately prior to such subdivision shall be proportionately reduced, and conversely, in case the outstanding shares of Preferred Stock of the Company shall be combined into a smaller
number of shares, the warrant purchase price in effect immediately prior to such combination shall be proportionately increased. 
 (d) If
any capital reorganization or reclassification of the capital stock of the Company, or consolidation or merger of the Company with another corporation, or the sale of all or substantially all of its assets to another corporation shall be effected in
such a way that holders of Preferred Stock shall be entitled to receive stock, securities or assets with respect to or in exchange for Preferred Stock, then the Purchaser shall have the right at any time or times thereafter to exercise this Warrant,
and upon such exercise the Holder shall receive the kind and number of shares or securities or other property to which a holder of the number of shares of Preferred Stock deliverable upon exercise of this Warrant would have been entitled upon such
Corporate Event. This Warrant shall terminate if not exercised prior to such capital reorganization, or reclassification of the capital stock of the Company, or consolidation or merger of the Company with, or sale of all or substantially all of its
assets to, another corporation. 
 (e) If by reason of the terms of the Company’s Certificate of Incorporation, all of the
Company’s outstanding Preferred Stock shall have been mandatorily redeemed for cash or mandatorily converted into shares of Common Stock (either such event being herein referred to as an “Event”), then from and after such Event, the
holder of this Warrant shall have the right to purchase and receive in lieu of the shares of Preferred Stock immediately theretofore purchasable and receivable hereunder that number of shares of Common Stock equal to the number of shares of Common
Stock, subject to adjustment as herein provided, that would have been received if this Warrant had been exercised in full and the Preferred Stock received thereupon had been simultaneously converted into shares of Common Stock immediately prior to
such Event. The warrant purchase price shall be immediately adjusted to equal (subject to further adjustment as herein provided) the quotient obtained by dividing (x) the aggregate warrant purchase price of the maximum number of shares of
Preferred Stock for which this Warrant was exercisable immediately prior to such Event, by (y) the number of shares of Common Stock for which this Warrant is exercisable immediately after such Event. From and after such Event, references in
this Warrant to Preferred Stock shall be deemed amended to be references to Common Stock, and any other appropriate provision shall be made, to the extent necessary or appropriate to accord the holder of this Warrant the same rights and privileges
relative to the purchase of Common Stock as this Warrant accorded the holder relative to the purchase of Preferred Stock prior to the Event (including without limitation the provisions for adjustments of the warrant purchase price and of the number
of shares purchasable upon exercise of this Warrant). 
 (f) Upon any adjustment of the warrant purchase price, then and in each such case
the Company shall give written notice thereof, by first-class mail, postage prepaid, addressed to the registered holder of this Warrant at the address of such holder as shown on the books of the Company, which notice shall state the warrant purchase
price resulting from such adjustment and 
  

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the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of this Warrant, setting forth in reasonable detail the
method of calculation and the facts upon which such calculation is based. 
 (g) In case any time: 
 (1) the Company shall declare any cash dividend on its Preferred Stock or Common Stock at a rate in excess of the rate of the last cash
dividend theretofore paid; 
 (2) the Company shall pay any dividend payable in stock upon its Preferred Stock or Common Stock
or make any distribution (other than regular cash dividends) to the holders of its Preferred Stock or Common Stock; 
 (3)
there shall be any capital reorganization, or reclassification of the capital stock of the Company, or consolidation or merger of the Company with, or sale of all or substantially all of its assets to, another corporation; 
 (4) there shall be a voluntary or involuntary dissolution, liquidation or winding up of the Company; or 
 (5) there shall be any redemption or mandatory conversion of Preferred Stock; 
 then, in any one or more of said cases, the Company shall give written notice, by first-class mail, postage prepaid, addressed to the registered holder of this Warrant
at the address of such holder as shown on the books of the Company, of the date on which (aa) the books of the Company shall close or a record shall be taken for such dividend, distribution or subscription rights, or (bb) such reorganization,
reclassification, consolidation, merger, sale, dissolution, liquidation or winding up, or conversion or redemption shall take place, as the case may be. Such notice shall also specify the date as of which the holders of capital stock of record shall
participate in such dividend, distribution or subscription rights, or shall be entitled to exchange their capital stock for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, sale,
dissolution, liquidation or winding up, or conversion or redemption, as the case may be. Such written notice shall be given at least 20 days prior to the action in question and not less than 20 days prior to the record date or the date on which the
Company’s transfer books are closed in respect thereto. 
 (h) If any event occurs as to which in the opinion of the Board of Directors
of the Company the other provisions of this paragraph 4 are not strictly applicable or if strictly applicable would not fairly protect the purchase rights of the holder of this Warrant or of Preferred Stock in accordance with the essential
intent and principles of such provisions, then the Board of Directors shall make an adjustment in the application of such provisions, in accordance with such essential intent and principles, so as to protect such purchase rights as aforesaid.

  

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 (i) No fractional shares of Preferred Stock shall be issued upon the exercise of this Warrant, but,
instead of any fraction of a share which would otherwise be issuable, the Company shall pay a cash adjustment (which may be effected as a reduction of the amount to be paid by the holder hereof upon such exercise) in respect of such fraction in an
amount equal to the same fraction of the Market Price per share of Preferred Stock as of the close of business on the date of the notice required by paragraph l above. “Market Price” shall mean, if the Preferred Stock is traded on a
securities exchange or on the NASDAQ National Market System, the average of the closing prices of the Preferred Stock on such exchange or the NASDAQ National Market System on the 20 trading days ending on the trading day prior to the date of
determination, or, if the Preferred Stock is otherwise traded in the over-the-counter market, the average of the closing bid prices on the 20 trading days ending on the trading day prior to the date of determination. If at any time the Preferred
Stock is not traded on an exchange or the NASDAQ National Market System, or otherwise traded in the over-the-counter market, but the Common Stock of the Company is, then the Market Price shall be deemed to be the average closing prices or average
closing bid prices of the Common Stock, as the case may be, or, if such exercise occurs in connection with a public offering of the Common Stock, the public offering price of the Common Stock, in each case, multiplied by the number of shares or
fraction thereof into which a share of Preferred Stock is then convertible. If at any time neither the Preferred Stock nor the Common Stock is traded on an exchange or the NASDAQ National Market System, or otherwise traded in the over-the-counter
market, the Market Price shall be deemed to be the fair value thereof determined in good faith by the Board of Directors of the Company as of a date which is within 15 days of the date as of which the determination is to be made. 
 5. This Warrant shall not entitle the holder hereof to any voting rights or other rights as a stockholder of the Company. 
 6. The holder of this Warrant, by acceptance hereof, agrees to give written notice to the Company before transferring this Warrant or transferring any
Preferred Stock issuable or issued upon the exercise hereof of such holder’s intention to do so, describing briefly the manner of any proposed transfer of this Warrant or such holder’s intention as to the disposition to be made of shares
of Preferred Stock issuable or issued upon the exercise hereof. Such holder shall also provide the Company with an opinion of counsel satisfactory to the Company to the effect that the proposed transfer of this Warrant or disposition of shares may
be effected without registration or qualification (under any Federal or State law) of this Warrant or the shares of Preferred Stock issuable or issued upon the exercise hereof. Upon receipt of such written notice and opinion by the Company, such
holder shall be entitled to transfer this Warrant, or to exercise this Warrant in accordance with its terms and dispose of the shares received upon such exercise or to dispose of shares of Preferred Stock received upon the previous exercise of this
Warrant, all in accordance with the terms of the notice delivered by such holder to the Company, provided that an appropriate legend respecting the aforesaid restrictions on transfer and disposition may be endorsed on this Warrant or the
certificates for such shares. 
  

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 7. Subject to the provisions of paragraph 6 hereof, this Warrant and all rights hereunder are
transferable, in whole or in part, at the principal office of the Company by the holder hereof in person or by duly authorized attorney, upon surrender of this Warrant properly endorsed. Each taker and holder of this Warrant, by taking or holding
the same, consents and agrees that the bearer of this Warrant, when endorsed, may be treated by the Company and all other persons dealing with this Warrant as the absolute owner hereof for any purpose and as the person entitled to exercise the
rights represented by this Warrant, or to the transfer hereof on the books of the Company, any notice to the contrary notwithstanding; but until such transfer on such books, the Company may treat the registered holder hereof as the owner for all
purposes. 
 8. This Warrant is exchangeable, upon the surrender hereof by the holder hereof at the principal office of the Company, for new
Warrants of like tenor representing in the aggregate the right to subscribe for and purchase the number of shares which may be subscribed for and purchased hereunder, each of such new Warrants to represent the right to subscribe for and purchase
such number of shares as shall be designated by said holder hereof at the time of such surrender. 
 9. (a) In addition to and
without limiting the rights of the holder of this Warrant under the terms of this Warrant, the holder of this Warrant shall have the right (the “Conversion Right”) to convert this Warrant or any portion thereof into shares of Preferred
Stock as provided in this paragraph 10 at any time or from time to time prior to its expiration. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant
Shares”), the Company shall deliver to the holder of this Warrant, without payment by the holder of any exercise price or any cash or other consideration, that number of shares of Preferred Stock equal to the quotient obtained by dividing the
Net Value (as hereinafter defined) of the Converted Warrant Shares by the fair market value (as defined in paragraph (c) below) of a single share of Preferred Stock, determined in each case as of the Conversion Date (as hereinafter defined).
The “Net Value” of the Converted Warrant Shares shall be determined by subtracting the aggregate warrant purchase price of the Converted Warrant Shares from the aggregate fair market value of the Converted Warrant Shares. Notwithstanding
anything in this paragraph 10 to the contrary, the Conversion Right cannot be exercised with respect to a number of Converted Warrant Shares having a Net Value below $100. No fractional shares shall be issuable upon exercise of the Conversion
Right, and if the number of shares to be issued in accordance with the foregoing formula is other than a whole number, the Company shall pay to the holder of this Warrant an amount in cash equal to the fair market value of the resulting fractional
share. 
 (b) The Conversion Right may be exercised by the holder of this Warrant by the surrender of this Warrant at the principal office of
the Company together with a written statement specifying that the holder thereby intends to exercise the Conversion Right and indicating the number of shares subject to this Warrant which are being surrendered (referred to in paragraph (a)
above as the Converted Warrant Shares) in exercise of the Conversion Right. Such conversion shall be effective upon receipt by the Company of this Warrant together with the aforesaid written statement, or on such later date as is specified therein
(the “Conversion Date”), but not later than the expiration date of this Warrant. Certificates for the shares of Preferred Stock issuable upon 

  

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exercise of the Conversion Right, together with a check in payment of any fractional share and, in the case of a partial exercise, a new warrant evidencing
the shares remaining subject to this Warrant, shall be issued as of the Conversion Date and shall be delivered to the holder of this Warrant within 15 days following the Conversion Date. 
 (c) For purposes of this paragraph 10, the “fair market value” of a share of Preferred Stock as of a particular date shall be its Market
Price, calculated as described in paragraph 4(i) hereof (assuming for this purpose that references to “date of determination” (or words of similar import) in paragraph 4(i) shall be deemed references to “Conversion Date”).

 10. The holder of this Warrant represents and warrants to the Company as follows: 
 (a) This Warrant is being acquired for its own account, for investment and not with a view to, or for resale in connection with, any distribution or
public offering thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”). Upon exercise of this Warrant, the holder shall, if so requested by the Company, confirm in writing, in a form reasonably
satisfactory to the Company, that the shares issuable upon exercise of this Warrant are being acquired for investment and not with a view toward distribution or resale; 
 (b) The holder of this Warrant understands that this Warrant and the shares issuable upon exercise of this Warrant have not been registered under the Securities Act by reason of their issuance in a transaction exempt
from the registration and prospectus delivery requirements of the Securities Act pursuant to Section 4(2) thereof and that this Warrant and the Warrant Shares may be resold without registration under the Securities Act only in certain limited
circumstances; 
 (c) The holder of this Warrant has such knowledge and experience in financial and business matters that it is capable of
evaluating the merits and risks of the purchase of this Warrant and the shares issuable upon exercise of this Warrant and of protecting its interest in connection therewith; 
 (d) The holder of this Warrant is able to bear the economic risk of the purchase of the shares issuable upon exercise of this Warrant; and 

(e) The holder of this Warrant is an “accredited investor” within the meaning of Regulation D promulgated under the Securities Act.

 11. All questions concerning this Warrant will be governed and interpreted and enforced in accordance with the internal law, not the law
of conflicts, of the State of Minnesota. 
  

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 IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its duly authorized officer and
this Warrant to be dated as of November 8, 2005. 
  

			
	DEVAX, INC.,
	a Delaware corporation
		
	By:	 	 /s/ Jeff Thiel

	Its:	 	President and Chief Executive Officer

 RESTRICTION ON TRANSFER 
 “The securities evidenced hereby may not be transferred without (i) the opinion of counsel satisfactory to this corporation that such transfer
may be lawfully made without registration under the Federal Securities Act of 1933 and all applicable state securities laws or (ii) such registration.” 
  

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 SUBSCRIPTION FORM 
 To be Executed by the Holder of this Warrant if such Holder 
 Desires to Exercise this Warrant in Whole or in Part: 
  

	To:	Devax, Inc. (the “Company”) 

 The undersigned
                                        
                                        

 Please insert Social Security or other 
 identifying number of Subscriber: 
 ______________________ 
 hereby irrevocably elects to exercise the right of purchase represented by this Warrant for, and to purchase thereunder,
                     shares of the Preferred Stock (the “Preferred Stock”) provided for therein and tenders payment herewith to the
order of the Company in the amount of $            , such payment being made as provided on the face of this Warrant. 
 The undersigned requests that certificates for such shares of Preferred Stock be issued as follows: 
 Name:                                     
                                        
                                        
                                        
                                        
                                        
        
 Address:                                     
                                        
                                        
                                        
                                        
                                        
    
 Deliver to:                                    
                                        
                                        
                                        
                                        
                                        

 Address:                                     
                                        
                                        
                                        
                                        
                                        
    
 and, if such number of shares of Preferred Stock shall not be all the shares of Preferred Stock purchasable hereunder, that a new
Warrant for the balance remaining of the shares of Preferred Stock purchasable under this Warrant be registered in the name of, and delivered to, the undersigned at the address stated above. 
 Dated: 
  

			
	Signature	  	  

		  	Note: The signature on this Subscription Form must correspond with the name as written upon the face of this Warrant in every particular, without alteration or enlargement or any change
whatever.

  

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 FORM OF ASSIGNMENT 
 (To Be Signed Only Upon Assignment) 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and
transfers unto 
 this Warrant, and appoints 
 to transfer this
Warrant on the books of the Company with the full power of substitution in the premises. 
 Dated: 
 In the presence of: 
  

	
	  

	(Signature must conform in all respects to the name of the holder as specified on the face of this Warrant without alteration, enlargement or any change whatsoever, and the signature must be
guaranteed in the usual manner)

  

 -10-1999 Equity Incentive Plan

 Exhibit 10.1 
 DEVAX, INC. 
 1999 EQUITY INCENTIVE
PLAN 
 Adopted by the Board of Directors on October 7, 1999 
 Approved by Stockholders on October, 1999 
 Amended by the Board of Directors on April 26, 2000 
 Approved By Stockholders on April 25, 2001 

Amended by the Board of Directors on July 23, 2001 
 Approved By Stockholders on July 24, 2001 
 Amended by the Board of Directors on
August 29, 2001 
 Approved By Stockholders on October 1, 2001 
 Termination Date: October 6, 2009 
  

	1.	PURPOSES. 

 (a) Eligible Stock
Award Recipients. The persons eligible to receive Stock Awards are the Employees, Directors and Consultants of the Company and its Affiliates. 
 (b) Available Stock Awards. The purpose of the Plan is to provide a means by which eligible recipients of Stock Awards may be given an opportunity to benefit from increases in value of the Common Stock through the granting of the
following Stock Awards: (i) Incentive Stock Options, (ii) Nonstatutory Stock Options, (iii) stock bonuses and (iv) rights to acquire restricted stock. 
 (c) General Purpose. The Company, by means of the Plan, seeks to retain the services of the group of persons eligible to receive Stock Awards, to secure and retain the services of new members of this group and
to provide incentives for such persons to exert maximum efforts for the success of the Company and its Affiliates. 
  

	2.	DEFINITIONS. 

 (a)
“Affiliate” means any parent corporation or subsidiary corporation of the Company, whether now or hereafter existing, as those terms are defined in Sections 424(e) and (f), respectively, of the Code. 
 (b) “Board” means the Board of Directors of the Company. 
 (c) “Code” means the Internal Revenue Code of 1986, as amended. 
 (d) “Committee” means a committee of one or more members of the Board appointed by the Board in accordance with
subsection 3(c). 
 (e) “Common Stock” means the common stock of the Company. 
  

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 (f) “Company” means Devax, Inc., a Delaware corporation. 
 (g) “Consultant” means any person, including an advisor, (i) engaged by the Company or an Affiliate to render
consulting or advisory services and who is compensated for such services or (ii) who is a member of the Board of Directors of an Affiliate. However, the term “Consultant” shall not include either Directors who are not compensated by
the Company for their services as Directors or Directors who are merely paid a director’s fee by the Company for their services as Directors. 
 (h) “Continuous Service” means that the Participant’s service with the Company or an Affiliate, whether as an Employee, Director or Consultant, is not interrupted or terminated. The Participant’s
Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in which the Participant renders service to the Company or an Affiliate as an Employee, Consultant or Director or a change in the entity for which
the Participant renders such service, provided that there is no interruption or termination of the Participant’s Continuous Service. For example, a change in status from an Employee of the Company to a Consultant of an Affiliate or a Director
will not constitute an interruption of Continuous Service. The Board or the chief executive officer of the Company, in that party’s sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any
leave of absence approved by that party, including sick leave, military leave or any other personal leave. 
 (i) “Covered
Employee” means the chief executive officer and the four (4) other highest compensated officers of the Company for whom total compensation is required to be reported to stockholders under the Exchange Act, as determined for
purposes of Section 162(m) of the Code. 
 (j) “Director” means a member of the Board of Directors of the
Company. 
 (k) “Disability” means the permanent and total disability of a person within the meaning of
Section 22(e)(3) of the Code. 
 (l) “Employee” means any person employed by the Company or an Affiliate.
Mere service as a Director or payment of a director’s fee by the Company or an Affiliate shall not be sufficient to constitute “employment” by the Company or an Affiliate. 
 (m) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 (n) “Fair Market Value” means, as of any date, the value of the Common Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or traded on the Nasdaq National Market or the Nasdaq SmallCap
Market, the Fair Market Value of a share of Common Stock shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or market (or the exchange or market with the greatest volume of
trading in the Common Stock) on the last market trading day prior to the day of determination, as reported in The Wall Street Journal or such other source as the Board deems reliable. 
  

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 (ii) In the absence of such markets for the Common Stock, the Fair Market Value
shall be determined in good faith by the Board. 
 (o) “Incentive Stock Option” means an Option intended to
qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 
 (p) “Listing Date” means the first date upon which any security of the Company is listed (or approved for listing) upon notice of issuance on any securities exchange or designated (or approved for designation)
upon notice of issuance as a national market security on an interdealer quotation system. 
 (q) “Non-Employee
Director” means a Director who either (i) is not a current Employee or Officer of the Company or its parent or a subsidiary, does not receive compensation (directly or indirectly) from the Company or its parent or a subsidiary for
services rendered as a consultant or in any capacity other than as a Director (except for an amount as to which disclosure would not be required under Item 404(a) of Regulation S-K promulgated pursuant to the Securities Act (“Regulation
S-K”)), does not possess an interest in any other transaction as to which disclosure would be required under Item 404(a) of Regulation S-K and is not engaged in a business relationship as to which disclosure would be required under
Item 404(b) of Regulation S-K; or (ii) is otherwise considered a “non-employee director” for purposes of Rule 16b-3. 
 (r) “Nonstatutory Stock Option” means an Option not intended to qualify as an Incentive Stock Option. 
 (s) “Officer” means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 
 (t) “Option” means an Incentive Stock Option or a Nonstatutory Stock Option granted pursuant to the Plan. 
 (u) “Option Agreement” means a written agreement between the Company and an Optionholder evidencing the terms and
conditions of an individual Option grant. Each Option Agreement shall be subject to the terms and conditions of the Plan. 
 (v)
“Optionholder” means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Option. 
 (w) “Outside Director” means a Director who either (i) is not a current employee of the Company or an
“affiliated corporation” (within the meaning of Treasury Regulations promulgated under Section 162(m) of the Code), is not a former employee of the Company or an “affiliated corporation” receiving compensation for prior
services (other than benefits under a tax qualified pension plan), was not an officer of the Company or an “affiliated corporation” at any 

  

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time and is not currently receiving direct or indirect remuneration from the Company or an “affiliated corporation” for services in any capacity
other than as a Director or (ii) is otherwise considered an “outside director” for purposes of Section 162(m) of the Code. 
 (x) “Participant” means a person to whom a Stock Award is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Stock Award. 
 (y) “Plan” means this Devax, Inc. 1999 Equity Incentive Plan. 
 (z) “Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as in effect from
time to time. 
 (aa) “Securities Act” means the Securities Act of 1933, as amended. 
 (bb) “Stock Award” means any right granted under the Plan, including an Option, a stock bonus and a right to acquire
restricted stock. 
 (cc) “Stock Award Agreement” means a written agreement between the Company and a holder
of a Stock Award evidencing the terms and conditions of an individual Stock Award grant. Each Stock Award Agreement shall be subject to the terms and conditions of the Plan. 
 (dd) “Ten Percent Stockholder” means a person who owns (or is deemed to own pursuant to Section 424(d) of the Code)
stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of any of its Affiliates. 
  

	3.	ADMINISTRATION. 

 (a)
Administration by Board. The Board shall administer the Plan unless and until the Board delegates administration to a Committee, as provided in subsection 3(c). Any interpretation of the Plan by the Board and any decision by the Board under
the Plan shall be final and binding on all persons. 
 (b) Powers of Board. The Board shall have the power, subject to, and
within the limitations of, the express provisions of the Plan: 
 (i) To determine from time to time which of the
persons eligible under the Plan shall be granted Stock Awards; when and how each Stock Award shall be granted; what type or combination of types of Stock Award shall be granted; the provisions of each Stock Award granted (which need not be
identical), including the time or times when a person shall be permitted to receive Common Stock pursuant to a Stock Award; and the number of shares of Common Stock with respect to which a Stock Award shall be granted to each such person.

 (ii) To construe and interpret the Plan and Stock Awards granted under it, and to establish, amend and revoke rules
and regulations for its administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan or in any Stock Award Agreement, in a manner and to the extent it shall deem necessary or expedient to
make the Plan fully effective. 
  

 4 

 (iii) To amend the Plan or a Stock Award as provided in Section 12.

 (iv) Generally, to exercise such powers and to perform such acts as the Board deems necessary or expedient to
promote the best interests of the Company which are not in conflict with the provisions of the Plan. 
 (c) Delegation to Committee.

 (i) General. The Board may delegate administration of the Plan to a Committee or Committees of one
(1) or more members of the Board, and the term “Committee” shall apply to any person or persons to whom such authority has been delegated. If administration is delegated to a Committee, the Committee shall have, in connection with the
administration of the Plan, the powers theretofore possessed by the Board, including the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board shall
thereafter be to the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may abolish the Committee at any time and revest in
the Board the administration of the Plan. 
 (ii) Committee Composition when Common Stock is Publicly Traded. At
such time as the Common Stock is publicly traded, in the discretion of the Board, a Committee may consist solely of two or more Outside Directors, in accordance with Section 162(m) of the Code, and/or solely of two or more Non-Employee
Directors, in accordance with Rule 16b-3. Within the scope of such authority, the Board or the Committee may (1) delegate to a committee of one or more members of the Board who are not Outside Directors the authority to grant Stock Awards to
eligible persons who are either (a) not then Covered Employees and are not expected to be Covered Employees at the time of recognition of income resulting from such Stock Award or (b) not persons with respect to whom the Company wishes to
comply with Section 162(m) of the Code and/or (2) delegate to a committee of one or more members of the Board who are not Non-Employee Directors the authority to grant Stock Awards to eligible persons who are not then subject to
Section 16 of the Exchange Act. 
  

	4.	SHARES SUBJECT TO THE PLAN. 

 (a) Share Reserve. Subject to the provisions of Section 11 relating to adjustments upon changes in Common Stock, the Common Stock that
may be issued pursuant to Stock Awards shall not exceed in the aggregate five million one hundred forty-two thousand nine hundred sixty (5,142,960) shares of Common Stock. 
 (b) Reversion of Shares to the Share Reserve. If any Stock Award shall for any reason expire or otherwise terminate, in whole or in part,
without having been exercised in full, or if any shares of Common Stock issued to a Participant pursuant to a Stock Award are forfeited back to the Company because of the failure to meet a contingency or condition required to vest 

  

 5 

 
such shares in the Participant, the shares of Common Stock not acquired or forfeited under such Stock Award shall revert to and again become available for
issuance under the Plan; provided, however, that subject to the provisions of Section 11(a) relating to Capitalization Adjustments, the aggregate maximum number of shares of Common Stock that may be issued pursuant to the exercise of
Incentive Stock Options shall be two million two hundred twenty-three thousand (2,223,000) shares of Common Stock. 
 (c)
Source of Shares. The shares of Common Stock subject to the Plan may be unissued shares or reacquired shares, bought on the market or otherwise. 
  

	5.	ELIGIBILITY. 

 (a)
Eligibility for Specific Stock Awards. Incentive Stock Options may be granted only to Employees. Stock Awards other than Incentive Stock Options may be granted to Employees, Directors and Consultants. 
 (b) Ten Percent Stockholders. A Ten Percent Stockholder shall not be granted an Incentive Stock Option unless the exercise price of such
Option is at least one hundred ten percent (110%) of the Fair Market Value of the Common Stock at the date of grant and the Option is not exercisable after the expiration of five (5) years from the date of grant. 
 Section 162(m) Limitation. Subject to the provisions of Section 11 relating to adjustments upon changes in the shares of Common Stock, no
Employee shall be eligible to be granted Options covering more than One Hundred Thirty Thousand (130,000) shares of Common Stock during any calendar year. This subsection 5(c) shall not apply prior to the Listing Date and, following the Listing
Date, this subsection 5(c) shall not apply until (i) the earliest of: (1) the first material modification of the Plan (including any increase in the number of shares of Common Stock reserved for issuance under the Plan in accordance with
Section 4); (2) the issuance of all of the shares of Common Stock reserved for issuance under the Plan; (3) the expiration of the Plan; or (4) the first meeting of stockholders at which Directors are to be elected that occurs
after the close of the third calendar year following the calendar year in which occurred the first registration of an equity security under Section 12 of the Exchange Act; or (ii) such other date required by Section 162(m) of the Code
and the rules and regulations promulgated thereunder. 
 (c) Consultants. 
 (i) Prior to the Listing Date, a Consultant shall not be eligible for the grant of a Stock Award if, at the time of grant, either
the offer or the sale of the Company’s securities to such Consultant is not exempt under Rule 701 of the Securities Act (“Rule 701”) because of the nature of the services that the Consultant is providing to the Company, or because the
Consultant is not a natural person, or as otherwise provided by Rule 701, unless the Company determines that such grant need not comply with the requirements of Rule 701 and will satisfy another exemption under the Securities Act as well as comply
with the securities laws of all other relevant jurisdictions. 
  

 6 

 (ii) From and after the Listing Date, a Consultant shall not be eligible for the
grant of a Stock Award if, at the time of grant, a Form S-8 Registration Statement under the Securities Act (“Form S-8”) is not available to register either the offer or the sale of the Company’s securities to such Consultant because
of the nature of the services that the Consultant is providing to the Company, or because the Consultant is not a natural person, or as otherwise provided by the rules governing the use of Form S-8, unless the Company determines both (i) that
such grant (A) shall be registered in another manner under the Securities Act (e.g., on a Form S-3 Registration Statement) or (B) does not require registration under the Securities Act in order to comply with the requirements of the
Securities Act, if applicable, and (ii) that such grant complies with the securities laws of all other relevant jurisdictions. 
 (iii) As of April 7, 1999 Rule 701 and Form S-8 generally are available to consultants and advisors only if (i) they are natural persons; (ii) they provide bona fide services to the issuer, its parents, its
majority-owned subsidiaries or majority-owned subsidiaries of the issuer’s parent; and (iii) the services are not in connection with the offer or sale of securities in a capital-raising transaction, and do not directly or indirectly
promote or maintain a market for the issuer’s securities. 
  

	6.	OPTION PROVISIONS. 

 Each Option shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. All Options shall be separately designated Incentive Stock Options or Nonstatutory Stock Options at the time of grant, and,
if certificates are issued, a separate certificate or certificates will be issued for shares of Common Stock purchased on exercise of each type of Option. The provisions of separate Options need not be identical, but each Option shall include
(through incorporation of provisions hereof by reference in the Option or otherwise) the substance of each of the following provisions: 
 (a) Term. Subject to the provisions of subsection 5(b) regarding Ten Percent Stockholders, no Incentive Stock Option shall be exercisable after the expiration of ten (10) years from the date it was granted. 
 (b) Exercise Price of an Incentive Stock Option. Subject to the provisions of subsection 5(b) regarding Ten Percent Stockholders, the
exercise price of each Incentive Stock Option shall be not less than one hundred percent (100%) of the Fair Market Value of the Common Stock subject to the Option on the date the Option is granted. Notwithstanding the foregoing, an Incentive
Stock Option may be granted with an exercise price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of
Section 424(a) of the Code. 
 (c) Exercise Price of a Nonstatutory Stock Option. The exercise price of each Nonstatutory
Stock Option shall be not less than eighty-five percent (85%) of the Fair Market 

  

 7 

 
Value of the Common Stock subject to the Option on the date the Option is granted. Notwithstanding the foregoing, a Nonstatutory Stock Option may be granted
with an exercise price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of Section 424(a) of the Code. 

(d) Consideration. The purchase price of Common Stock acquired pursuant to an Option shall be paid, to the extent permitted by
applicable statutes and regulations, either (i) in cash at the time the Option is exercised or (ii) at the discretion of the Board at the time of the grant of the Option (or subsequently in the case of a Nonstatutory Stock Option)
(1) by delivery to the Company of other Common Stock, (2) according to a deferred payment or other similar arrangement with the Optionholder or (3) in any other form of legal consideration that may be acceptable to the Board;
provided, however, that at any time that the Company is incorporated in Delaware, payment of the Common Stock’s “par value,” as defined in the Delaware General Corporation Law, shall not be made by deferred payment. 
 In the case of any deferred payment arrangement, interest shall be compounded at least annually and shall be charged at the minimum rate of interest
necessary to avoid the treatment as interest, under any applicable provisions of the Code, of any amounts other than amounts stated to be interest under the deferred payment arrangement. 
 (e) Transferability of an Incentive Stock Option. An Incentive Stock Option shall not be transferable except by will or by the laws of
descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding the foregoing, the Optionholder may, by delivering written notice to the Company, in a form satisfactory to the
Company, designate a third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option. 
 (f) Transferability of a Nonstatutory Stock Option. A Nonstatutory Stock Option shall be transferable to the extent provided in the Option Agreement. If the Nonstatutory Stock Option does not provide for transferability, then
the Nonstatutory Stock Option shall not be transferable except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding the foregoing, the
Optionholder may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option. 
 (g) Vesting Generally. The total number of shares of Common Stock subject to an Option may, but need not, vest and therefore become
exercisable in periodic installments that may, but need not, be equal. The Option may be subject to such other terms and conditions on the time or times when it may be exercised (which may be based on performance or other criteria) as the Board may
deem appropriate. The vesting provisions of individual Options may vary. The provisions of this subsection 6(g) are subject to any Option provisions governing the minimum number of shares of Common Stock as to which an Option may be exercised.

  

 8 

 (h) Termination of Continuous Service. In the event an Optionholder’s Continuous
Service terminates (other than upon the Optionholder’s death or Disability), the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination) but only
within such period of time ending on the earlier of (i) the date three (3) months following the termination of the Optionholder’s Continuous Service (or such longer or shorter period specified in the Option Agreement), or
(ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified in the Option Agreement, the Option shall terminate.

 (i) Extension of Termination Date. An Optionholder’s Option Agreement may also provide that if the exercise of the
Option following the termination of the Optionholder’s Continuous Service (other than upon the Optionholder’s death or Disability) would be prohibited at any time solely because the issuance of shares of Common Stock would violate the
registration requirements under the Securities Act, then the Option shall terminate on the earlier of (i) the expiration of the term of the Option set forth in subsection 
 6(a) or (ii) the expiration of a period of three (3) months after the termination of the Optionholder’s Continuous Service during which the exercise of the Option would not be in violation of such
registration requirements. 
 (j) Disability of Optionholder. In the event that an Optionholder’s Continuous Service
terminates as a result of the Optionholder’s Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination), but only within such period of
time ending on the earlier of (i) the date twelve (12) months following such termination (or such longer or shorter period specified in the Option Agreement) or (ii) the expiration of the term of the Option as set forth in the Option
Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified herein, the Option shall terminate. 
 (k) Death of Optionholder. In the event (i) an Optionholder’s Continuous Service terminates as a result of the Optionholder’s death or (ii) the Optionholder dies within the period (if
any) specified in the Option Agreement after the termination of the Optionholder’s Continuous Service for a reason other than death, then the Option may be exercised (to the extent the Optionholder was entitled to exercise such Option as of the
date of death) by the Optionholder’s estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated to exercise the option upon the Optionholder’s death pursuant to subsection 6(e) or
6(f), but only within the period ending on the earlier of (1) the date eighteen (18) months following the date of death (or such longer or shorter period specified in the Option Agreement) or (2) the expiration of the term of such
Option as set forth in the Option Agreement. If, after death, the Option is not exercised within the time specified herein, the Option shall terminate. 
 (l) Early Exercise. The Option may, but need not, include a provision whereby the Optionholder may elect at any time before the Optionholder’s Continuous Service terminates to exercise the Option as
to any part or all of the shares of Common Stock subject to the Option prior to the full vesting of the Option. Any unvested shares of Common Stock so purchased may be subject to a repurchase option in favor of the Company or to any other
restriction the Board determines to be appropriate. 
  

 9 

 (m) Right of Repurchase. The Option may, but need not, include a provision whereby the
Company may elect, prior to the Listing Date, to repurchase all or any part of the vested shares of Common Stock acquired by the Optionholder pursuant to the exercise of the Option. 
 (n) Right of First Refusal. The Option may, but need not, include a provision whereby the Company may elect, prior to the Listing Date, to
exercise a right of first refusal following receipt of notice from the Optionholder of the intent to transfer all or any part of the shares of Common Stock received upon the exercise of the Option. Except as expressly provided in this subsection
6(n), such right of first refusal shall otherwise comply with any applicable provisions of the Bylaws of the Company. 
 (o)
Re-Load Options. Without in any way limiting the authority of the Board to make or not to make grants of Options hereunder, the Board shall have the authority (but not an obligation) to include as part of any Option Agreement a provision
entitling the Optionholder to a further Option (a “Re-Load Option”) in the event the Optionholder exercises the Option evidenced by the Option Agreement, in whole or in part, by surrendering other shares of Common Stock in accordance with
this Plan and the terms and conditions of the Option Agreement. Any such Re-Load Option shall (i) provide for a number of shares of Common Stock equal to the number of shares of Common Stock surrendered as part or all of the exercise price of
such Option; (ii) have an expiration date which is the same as the expiration date of the Option the exercise of which gave rise to such Re-Load Option; and (iii) have an exercise price which is equal to one hundred percent (100%) of
the Fair Market Value of the Common Stock subject to the Re-Load Option on the date of exercise of the original Option. Notwithstanding the foregoing, a Re-Load Option shall be subject to the same exercise price and term provisions heretofore
described for Options under the Plan. 
 Any such Re-Load Option may be an Incentive Stock Option or a Nonstatutory Stock Option, as the
Board may designate at the time of the grant of the original Option; provided, however, that the designation of any Re-Load Option as an Incentive Stock Option shall be subject to the one hundred thousand dollar ($100,000) annual limitation on the
exercisability of Incentive Stock Options described in subsection 10(d) and in Section 422(d) of the Code. There shall be no Re-Load Options on a Re-Load Option. Any such Re-Load Option shall be subject to the availability of sufficient shares
of Common Stock under subsection 4(a) and the “Section 
 162(m) Limitation” on the grants of Options under subsection 5(c) and shall be subject to
such other terms and conditions as the Board may determine which are not inconsistent with the express provisions of the Plan regarding the terms of Options. 
  

	7.	PROVISIONS OF STOCK AWARDS OTHER THAN OPTIONS.

 (a) Stock Bonus Awards. Each stock bonus agreement shall be in such form and shall contain such terms and
conditions as the Board shall deem appropriate. The terms and 

  

 10 

 
conditions of stock bonus agreements may change from time to time, and the terms and conditions of separate stock bonus agreements need not be identical, but
each stock bonus agreement shall include (through incorporation of provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions: 
 (i) Consideration. A stock bonus may be awarded in consideration for past services actually rendered to the Company or an
Affiliate for its benefit. 
 (ii) Vesting. Shares of Common Stock awarded under the stock bonus agreement may,
but need not, be subject to a share repurchase option in favor of the Company in accordance with a vesting schedule to be determined by the Board. 
 (iii) Termination of Participant’s Continuous Service. In the event a Participant’s Continuous Service terminates, the Company may reacquire any or all of the shares of Common Stock held by the
Participant which have not vested as of the date of termination under the terms of the stock bonus agreement. 
 (iv)
Transferability. Rights to acquire shares of Common Stock under the stock bonus agreement shall be transferable by the Participant only upon such terms and conditions as are set forth in the stock bonus agreement, as the Board shall determine
in its discretion, so long as Common Stock awarded under the stock bonus agreement remains subject to the terms of the stock bonus agreement. 
 (b) Restricted Stock Awards. Each restricted stock purchase agreement shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. The terms and conditions of the restricted stock
purchase agreements may change from time to time, and the terms and conditions of separate restricted stock purchase agreements need not be identical, but each restricted stock purchase agreement shall include (through incorporation of provisions
hereof by reference in the agreement or otherwise) the substance of each of the following provisions: 
 (i)
Purchase Price. The purchase price of restricted stock awards shall not be less than eighty-five percent (85%) of the Common Stock’s Fair Market Value on the date such award is made or at the time the purchase is consummated.

 (ii) Consideration. The purchase price of Common Stock acquired pursuant to the restricted stock purchase
agreement shall be paid either: (i) in cash at the time of purchase; (ii) at the discretion of the Board, according to a deferred payment or other similar arrangement with the Participant; or (iii) in any other form of legal
consideration that may be acceptable to the Board in its discretion; provided, however, that at any time that the Company is incorporated in Delaware, then payment of the Common Stock’s “par value,” as defined in the Delaware General
Corporation Law, shall not be made by deferred payment. 
 (iii) Vesting. Shares of Common Stock acquired under
the restricted stock purchase agreement may, but need not, be subject to a share repurchase option in favor of the Company in accordance with a vesting schedule to be determined by the Board. 
  

 11 

 (iv) Termination of Participant’s Continuous Service. In the event a
Participant’s Continuous Service terminates, the Company may repurchase or otherwise reacquire any or all of the shares of Common Stock held by the Participant which have not vested as of the date of termination under the terms of the
restricted stock purchase agreement. 
 (v) Transferability. Rights to acquire shares of Common Stock under the
restricted stock purchase agreement shall be transferable by the Participant only upon such terms and conditions as are set forth in the restricted stock purchase agreement, as the Board shall determine in its discretion, so long as Common Stock
awarded under the restricted stock purchase agreement remains subject to the terms of the restricted stock purchase agreement. 
  

	8.	COVENANTS OF THE COMPANY. 

 (a) Availability of Shares. During the terms of the Stock Awards, the Company shall keep available at all times the number of shares of
Common Stock required to satisfy such Stock Awards. 
 (b) Securities Law Compliance. The Company shall seek to obtain from
each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to grant Stock Awards and to issue and sell shares of Common Stock upon exercise of the Stock Awards; provided, however, that this undertaking
shall not require the Company to register under the Securities Act the Plan, any Stock Award or any Common Stock issued or issuable pursuant to any such Stock Award. If, after reasonable efforts, the Company is unable to obtain from any such
regulatory commission or agency the authority which counsel for the Company deems necessary for the lawful issuance and sale of Common Stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell Common Stock
upon exercise of such Stock Awards unless and until such authority is obtained. 
  

	9.	USE OF PROCEEDS FROM STOCK. 

 Proceeds from the sale of Common Stock pursuant to Stock Awards shall constitute general funds of the Company. 
  

	10.	MISCELLANEOUS. 

 (a)
Acceleration of Exercisability and Vesting. The Board shall have the power to accelerate the time at which a Stock Award may first be exercised or the time during which a Stock Award or any part thereof will vest in accordance with the Plan,
notwithstanding the provisions in the Stock Award stating the time at which it may first be exercised or the time during which it will vest. 
 (b) Stockholder Rights. No Participant shall be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Common Stock subject to such Stock Award unless and until such Participant has
satisfied all requirements for exercise of the Stock Award pursuant to its terms. 
  

 12 

 (c) No Employment or other Service Rights. Nothing in the Plan or any instrument executed
or Stock Award granted pursuant thereto shall confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the Stock Award was granted or shall affect the right of the Company or an
Affiliate to terminate (i) the employment of an Employee with or without notice and with or without cause, (ii) the service of a Consultant pursuant to the terms of such Consultant’s agreement with the Company or an Affiliate or
(iii) the service of a Director pursuant to the Bylaws of the Company or an Affiliate, and any applicable provisions of the corporate law of the state in which the Company or the Affiliate is incorporated, as the case may be. 
 (d) Incentive Stock Option $100,000 Limitation. To the extent that the aggregate Fair Market Value (determined at the time of grant) of
Common Stock with respect to which Incentive Stock Options are exercisable for the first time by any Optionholder during any calendar year (under all plans of the Company and its Affiliates) exceeds one hundred thousand dollars ($100,000), the
Options or portions thereof which exceed such limit (according to the order in which they were granted) shall be treated as Nonstatutory Stock Options. 
 (e) Investment Assurances. The Company may require a Participant, as a condition of exercising or acquiring Common Stock under any Stock Award, (i) to give written assurances satisfactory to the
Company as to the Participant’s knowledge and experience in financial and business matters and/or to employ a purchaser representative reasonably satisfactory to the Company who is knowledgeable and experienced in financial and business matters
and that he or she is capable of evaluating, alone or together with the purchaser representative, the merits and risks of exercising the Stock Award; and (ii) to give written assurances satisfactory to the Company stating that the Participant
is acquiring Common Stock subject to the Stock Award for the Participant’s own account and not with any present intention of selling or otherwise distributing the Common Stock. The foregoing requirements, and any assurances given pursuant to
such requirements, shall be inoperative if (iii) the issuance of the shares of Common Stock upon the exercise or acquisition of Common Stock under the Stock Award has been registered under a then currently effective registration statement under
the Securities Act or (iv) as to any particular requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances under the then applicable securities laws. The Company may, upon advice
of counsel to the Company, place legends on stock certificates issued under the Plan as such counsel deems necessary or appropriate in order to comply with applicable securities laws, including, but not limited to, legends restricting the transfer
of the Common Stock. 
 (f) Withholding Obligations. To the extent provided by the terms of a Stock Award Agreement, the
Participant may satisfy any federal, state or local tax withholding obligation relating to the exercise or acquisition of Common Stock under a Stock Award by any of the following means (in addition to the Company’s right to withhold from any
compensation paid to the Participant by the Company) or by a combination of such means: (i) tendering a cash payment; (ii) authorizing the Company to withhold shares of Common Stock from the shares of Common Stock otherwise issuable to the
participant as a result of the exercise or acquisition of Common Stock under the Stock Award; or (iii) delivering to the Company owned and unencumbered shares of Common Stock. 
  

 13 

	11.	ADJUSTMENTS UPON CHANGES IN STOCK. 

 (a) Capitalization Adjustments. If any change is made in the Common Stock subject to the Plan, or subject to any Stock Award, without the
receipt of consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, stock split, liquidating dividend, combination of shares, exchange of
shares, change in corporate structure or other transaction not involving the receipt of consideration by the Company), the Plan will be appropriately adjusted in the class(es) and maximum number of securities subject to the Plan pursuant to
subsection 4(a) and the maximum number of securities subject to award to any person pursuant to subsection 5(c), and the outstanding Stock Awards will be appropriately adjusted in the class(es) and number of securities and price per share of Common
Stock subject to such outstanding Stock Awards. The Board shall make such adjustments, and its determination shall be final, binding and conclusive. (The conversion of any convertible securities of the Company shall not be treated as a transaction
“without receipt of consideration” by the Company.) 
 (b) Change in Control—Dissolution or Liquidation. In the
event of a dissolution or liquidation of the Company, then all outstanding Stock Awards shall terminate immediately prior to such event. 
 (c) Change in Control—Asset Sale, Merger, Consolidation or Reverse Merger. In the event of (i) a sale, lease or other disposition of all or substantially all of the assets of the Company, (ii) a merger or
consolidation in which the Company is not the surviving corporation or (iii) a reverse merger in which the Company is the surviving corporation but the shares of Common Stock outstanding immediately preceding the merger are converted by virtue
of the merger into other property, whether in the form of securities, cash or otherwise, then any surviving corporation or acquiring corporation shall assume any Stock Awards outstanding under the Plan or shall substitute similar stock awards
(including an award to acquire the same consideration paid to the stockholders in the transaction described in this subsection 11(c) for those outstanding under the Plan). In the event any surviving corporation or acquiring corporation refuses to
assume such Stock Awards or to substitute similar stock awards for those outstanding under the Plan, then with respect to Stock Awards held by Participants whose Continuous Service has not terminated, the vesting of such Stock Awards (and, if
applicable, the time during which such Stock Awards may be exercised) shall be accelerated in full, and the Stock Awards shall terminate if not exercised (if applicable) at or prior to such event. With respect to any other Stock Awards outstanding
under the Plan, such Stock Awards shall terminate if not exercised (if applicable) prior to such event. 
 (d) Change in
Control—Securities Acquisition. After the Listing Date, in the event of an acquisition by any person, entity or group within the meaning of Section 13(d) or 14(d) of the Exchange Act, or any comparable successor provisions (excluding
any employee benefit plan, or related trust, sponsored or maintained by the Company or an Affiliate) of the beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act, or 

  

 14 

 
comparable successor rule) of securities of the Company representing at least fifty percent (50%) of the combined voting power entitled to vote in the
election of Directors, then with respect to Stock Awards held by Participants whose Continuous Service has not terminated, the vesting of such Stock Awards (and, if applicable, the time during which such Stock Awards may be exercised) shall be
accelerated in full. 
  

	12.	AMENDMENT OF THE PLAN AND STOCK AWARDS. 

 (a) Amendment of Plan. The Board at any time, and from time to time, may amend the Plan. However, except as provided in Section 11
relating to adjustments upon changes in Common Stock, no amendment shall be effective unless approved by the stockholders of the Company to the extent stockholder approval is necessary to satisfy the requirements of Section 422 of the Code,
Rule 16b-3 or any Nasdaq or securities exchange listing requirements. 
 (b) Stockholder Approval. The Board may, in its sole
discretion, submit any other amendment to the Plan for stockholder approval, including, but not limited to, amendments to the Plan intended to satisfy the requirements of Section 162(m) of the Code and the regulations thereunder regarding the
exclusion of performance-based compensation from the limit on corporate deductibility of compensation paid to certain executive officers. 
 (c) Contemplated Amendments. It is expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary or advisable to provide eligible Employees with the maximum benefits provided or to be
provided under the provisions of the Code and the regulations promulgated thereunder relating to Incentive Stock Options and/or to bring the Plan and/or Incentive Stock Options granted under it into compliance therewith. 
 (d) No Impairment of Rights. Rights under any Stock Award granted before amendment of the Plan shall not be impaired by any amendment of
the Plan unless (i) the Company requests the consent of the Participant and (ii) the Participant consents in writing. 
 (e)
Amendment of Stock Awards. The Board at any time, and from time to time, may amend the terms of any one or more Stock Awards; provided, however, that the rights under any Stock Award shall not be impaired by any such amendment unless
(i) the Company requests the consent of the Participant and (ii) the Participant consents in writing. 
  

	13.	TERMINATION OR SUSPENSION OF THE PLAN. 

 (a) Plan Term. The Board may suspend or terminate the Plan at any time. Unless sooner terminated, the Plan shall terminate on the day before
the tenth (10th) anniversary of the date the Plan is adopted by the Board or approved by the stockholders of the Company, whichever is earlier. No Stock Awards may be granted under the Plan while the Plan is suspended or after it is terminated.

 (b) No Impairment of Rights. Suspension or termination of the Plan shall not impair rights and obligations under any Stock
Award granted while the Plan is in effect except with the written consent of the Participant. 
  

 15 

	14.	EFFECTIVE DATE OF PLAN. 

 The Plan shall become effective as determined by the Board, but no Stock Award shall be exercised (or, in the case of a stock bonus, shall be granted)
unless and until the Plan has been approved by the stockholders of the Company, which approval shall be within twelve (12) months before or after the date the Plan is adopted by the Board. 
  

	15.	CHOICE OF LAW. 

 The law of the State of Delaware shall govern all questions concerning the construction, validity and interpretation of this Plan, without regard to such state’s conflict of laws rules. 
  

 16

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