Document:

Seventh Amended and Restated Revolving Line of Credit Note

 Exhibit 10.2 
 SEVENTH AMENDED AND RESTATED REVOLVING LINE OF CREDIT NOTE 
  

					
	 November 17, 2010
	 	Dallas, Texas	 	$200,000,000.00

 FOR VALUE
RECEIVED, the undersigned (hereinafter called “Maker”) does hereby unconditionally promise to pay to the order of WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association (“Payee”), at its
office at 1445 Ross Avenue, 3rd Floor, MAC T5303-031, Dallas, Texas 75202, the principal sum of TWO HUNDRED MILLION AND NO/100 DOLLARS ($200,000,000.00), or such lesser amount as has been loaned or advanced by Payee to Maker hereunder or
under the Loan Agreement, in lawful money of the United States of America, together with interest from the date hereof until maturity at the rates per annum provided below. 
 1. Definitions. For purposes of this Sixth Amended and Restated Revolving Line of Credit Note (this “Note”), unless the context otherwise requires, the following terms shall have
the definitions assigned to such terms as follows and capitalized terms used herein but not defined herein shall have the meanings therefor specified in the Loan Agreement: 
 “Business Day” shall mean: 
 (a) for all purposes
(other than as covered by clause (b) below) any day except Saturday, Sunday or a day which in the United States is a legal holiday or a day on which banking institutions are authorized or required by law or other government action to close; and

 (b) with respect to all notices and determinations in connection with, and payments of principal and interest
on, a LIBOR Balance, any day which is a Business Day described in clause (a) above and which is also a day for trading by and between banks in the interbank eurodollar market. 

“Consequential Loss” shall mean, with respect to Maker’s payment, or conversion to a different Interest Option, of
all or any portion of the then-outstanding principal amount of any LIBOR Balance on a day other than the last day of the LIBOR Interest Period related thereto, any loss, cost or expense incurred by Payee in redepositing such principal amount,
including the sum of (a) the interest which, but for such payment, Payee would have earned in respect of such principal amount so paid for the remainder of LIBOR Interest Period applicable to such principal amount, reduced, if Payee is able to
redeposit such principal amount so paid for the balance of such LIBOR Interest Period, by the interest earned by Payee as a result of so redepositing such principal amount, plus (b) any expense or penalty incurred by Payee on redepositing such
principal amount. 
 “Contract Rate” shall mean a rate of interest based upon the LIBOR Base Rate or WFB Base
Rate in effect at any time pursuant to an Interest Notice. 
 “Dollars” and the sign “$” shall
mean lawful currency of the United States of America. 

  
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Restated Revolving Line of Credit Note - Page 1 

 “Eurocurrency Reserve Percentage” shall mean, with respect to each LIBOR
Interest Period, the maximum reserve percentage (expressed as a decimal) in effect on the first day of any LIBOR Interest Period, as prescribed by the Board of Governors of the Federal Reserve System (or any successor), for determining reserve
requirements applicable to “eurocurrency liabilities” pursuant to Regulation D or any other then applicable regulation of the Board of Governors (or any successor) which prescribes reserve requirements applicable to “eurocurrency
liabilities,” as presently defined in Regulation D, or any eurocurrency funding. 
 “Event of Default”
shall mean an Event of Default as such term is defined in the Loan Agreement. 
 “Excess Interest Amount” shall
mean, on any date, the amount by which (a) the amount of all interest which would have accrued prior to such date on the principal of this Note (had the applicable Contract Rate at all times been in effect without limitation by the Maximum
Rate) exceeds (b) the aggregate amount of interest actually received by Payee on this Note on or prior to such date. 

“Federal Funds Effective Rate” means, for any day, the weighted average of the rates on overnight Federal funds
transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the immediately following Business Day by the Federal Reserve Bank of New York or, if such rate is not published for any Business Day, the
average of the quotations for the day of the requested advance received by Payee from three Federal funds brokers of recognized standing selected by Payee. 
 “Interest Notice” shall mean the written notice given by Maker to Payee of the Interest Options selected hereunder. Each Interest Notice shall specify the Interest Option selected, the
amount of the unpaid principal balance of this Note to bear interest at the rate selected and, if the LIBOR Base Rate is specified, the length of the applicable LIBOR Interest Period. 

“Interest Option” shall have the meaning assigned to such term in paragraph 7 hereof. 

“Interest Payment Date” shall mean (a) in the case of any WFB Base Rate Balance, the last day of each December,
March, June and September prior to December 31, 2010 (the maturity date of this Note) and the maturity date of this Note, and (b) in the case of any LIBOR Balance, the last day of the corresponding LIBOR Interest Period with respect to
such LIBOR Balance and December 31, 2010 (the maturity date of this Note). 
 “LIBOR Balance” shall mean
any principal balance of this Note which, pursuant to an Interest Notice, bears interest at a rate based upon the LIBOR Base Rate for the LIBOR Interest Period specified in such Interest Notice. 

“LIBOR Base Rate” shall mean, with respect to each LIBOR Interest Period, on any day thereof the quotient of
(a) the LIBOR Rate with respect to such LIBOR Interest Period, divided by (b) the remainder of 1.0 minus the Eurocurrency Reserve Percentage in effect on such day. 
 “LIBOR Interest Period” shall mean, with respect to any LIBOR Balance, a period commencing: (a) on any date upon which, pursuant to an Interest Notice, the principal amount of such
LIBOR Balance begins to accrue interest at the LIBOR Base Rate, or (b) on the last day of the immediately preceding LIBOR Interest Period in the case of a rollover to a successive LIBOR Interest Period, and ending one month, two months or three
months thereafter as Maker shall elect in accordance with the provisions hereof; provided, that: (i) any LIBOR Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day
unless such Business Day falls in another calendar month, in which case such LIBOR Interest Period shall end on the next preceding Business Day; and (ii) any LIBOR Interest Period which begins on the last Business Day of a calendar month (or on
a day for which there is no numerically corresponding day in the calendar month at the end of such LIBOR Interest Period) shall, subject to clauses (iii) below and (i) above, end on the last Business Day of a calendar month; and
(iii) any LIBOR Interest Period which would otherwise end after December 31, 2010 shall end on December 31, 2010. 

  
 Seventh Amended and
Restated Revolving Line of Credit Note - Page 2 

 “LIBOR Rate” shall mean, with respect to each LIBOR Interest Period, the
rate of interest determined by Payee to be the arithmetic average (rounded upward, if necessary to the nearest 1/16th of 1%) of the per annum rates of interest at which Dollar deposits with a maturity equal to the proposed LIBOR Interest Period (and
in an amount approximating the LIBOR Balance) would be offered to Payee by major banks in the interbank eurodollar market at approximately 8:00 a.m. (Dallas, Texas time) on the Business Day immediately preceding the first day of such LIBOR Interest
Period. 
 “Loan Agreement” shall mean that certain Loan Agreement, dated as of September 23, 2004, by and
among Maker, Payee and the subsidiaries and/or affiliates of Maker from time to time a party thereto, as guarantors, as amended, restated, supplemented and/or modified from time to time. 

“Maximum Rate,” as used herein, shall mean, with respect to the holder hereof, the maximum non-usurious interest rate,
if any, that at any time, or from time to time, may be contracted for, taken, reserved, charged, or received on the indebtedness evidenced by this Note under the laws which are presently in effect of the United States and the State of Texas
applicable to such holder and such indebtedness or, to the extent permitted by law, under such applicable laws of the United States and the State of Texas which may hereafter be in effect and which allow a higher maximum non-usurious interest rate
than applicable laws now allow. To the extent that any of the optional interest rate ceilings provided in Chapter 303 of the Texas Finance Code, as amended from time to time (as amended, the “Texas Finance Code”), may be available
for application to any loan(s) or extension(s) of credit under this Note for the purpose of determining the Maximum Rate hereunder pursuant to the Texas Finance Code, the applicable “monthly ceiling” (as such term is defined in Chapter 303
of the Texas Finance Code) from time to time in effect shall be used to the extent that it is so available, and if such “monthly ceiling” at any time is not so available then the applicable “weekly ceiling” (as such term is
defined in Chapter 303 of the Texas Finance Code) from time to time in effect shall be used to the extent that it is so available. 
 “Regulation D” shall mean Regulation D of the Board of Governors of the Federal Reserve System from time to time in effect and shall include any successor or other regulation relating to
reserve requirements applicable to member banks of the Federal Reserve System. 

  
 Seventh Amended and
Restated Revolving Line of Credit Note - Page 3 

 “Total Commitment” shall mean $100,000,000.00; provided,
however, that, with the prior written consent of Payee (which consent may or may not be granted in Payee’s sole and absolute discretion), the Total Commitment may be increased to an amount not to exceed $200,000,000.00 as provided in the
Loan Agreement. As of November 17, 2010, the Total Commitment is $100,000,000.00. 
 “WFB” shall mean
Wells Fargo Bank, National Association, a national banking association, and its successors and assigns. 
 “WFB Base
Rate” shall mean, on any date of determination, a variable rate of interest per annum equal to the higher of either (a) the WFB Prime Rate, or (b) the Federal Funds Effective Rate plus one-half of one percent (0.50%). 

“WFB Base Rate Balance” shall mean that portion of the principal balance of this Note bearing interest at a rate based
upon the WFB Base Rate. 
 “WFB Prime Rate” shall mean the rate of interest most recently announced within
Payee at its principal office in San Francisco as its prime rate and is a base rate for calculating interest on certain loans. The rate announced by Payee as its prime rate may or may not be the most favorable rate charged by Payee to its customers.
Each change in the WFB Prime Rate shall become effective without prior notice to Maker automatically as of the opening of business on the date such change is announced within Payee. 

2. Manner of Borrowing; Advance Requests. A request for an advance under this Note shall be made, or shall be deemed to be made,
if Maker gives Payee notice of its intention to borrow, in which notice Maker shall specify (a) the aggregate principal amount of such advance and (b) the requested date of such advance, which shall be a Business Day. Any such request for
an advance shall be accompanied by an Interest Notice and shall be made (i) no later than 11:00 a.m. Dallas, Texas time at least three (3) Business Days prior to the requested advance date if the principal balance of such advance, pursuant
to such Interest Notice, is to bear interest at a rate based upon the LIBOR Base Rate and (ii) no later than 11:00 a.m. Dallas, Texas time on the requested advance date if the principal balance of such advance, pursuant to such Interest Notice,
is to bear interest at a rate based upon the WFB Base Rate. Notwithstanding anything herein to the contrary, Payee shall have the right (but not the obligation) to permit or effectuate advances under this Note as a part of its cash management
services provided to Maker and Payee shall have the right to refuse to accept a request for an advance under this Note if at the date any such request is made or any such advance is to be made there exists a default or an Event of Default under this
Note or the Loan Agreement. As an accommodation to Maker, Payee may permit telephonic requests for loans and electronic transmittal of instructions, authorizations, agreements or reports to Payee by Maker. Unless Maker specifically directs Payee in
writing not to accept or act upon telephonic or electronic communications from Maker, Payee shall have no liability to Maker for any loss or damage suffered by Maker as a result of Payee’s honoring of any requests, execution of any
instructions, authorizations or agreements or reliance on any reports communicated to Payee telephonically or electronically and purporting to have been sent to Payee by any individual from time to time designated by Maker as an authorized officer
and Payee shall have no duty to verify the origin or authenticity of any such communication. 

  
 Seventh Amended and
Restated Revolving Line of Credit Note - Page 4 

 3. Payments of Interest and Principal. Interest on the unpaid principal balance of
this Note shall be due and payable on each Interest Payment Date as it accrues. The unpaid principal balance of this Note shall be due and payable in full on December 31, 2010. 

4. Rates of Interest. The unpaid principal of the WFB Base Rate Balance shall bear interest at a rate per annum which shall from
day to day be equal to the lesser of (a) the higher of either (i) the WFB Base Rate in effect from day to day, plus one and one-half of one percent (1.50%) or (ii) three percent (3.0%), or (b) the Maximum Rate. The
unpaid principal of each LIBOR Balance shall bear interest at a rate per annum which shall from day to day be equal to the lesser of (A) the LIBOR Base Rate for the LIBOR Interest Period in effect with respect to such LIBOR Balance plus
three-quarters of one percent (0.75%), or (B) the Maximum Rate. Each determination by Payee of the LIBOR Base Rate shall, in the absence of manifest error, be conclusive and binding. Interest on this Note with respect to each WFB Base Rate
Balance and each LIBOR Balance shall be calculated on the basis of the actual days elapsed in a year consisting of 360 days. 

5. Interest Recapture. If, on each Interest Payment Date or any other date on which interest payments are required hereunder,
Payee does not receive interest on this Note computed at the Contract Rate because such Contract Rate exceeds or has exceeded the Maximum Rate, then Maker shall, upon the written demand of Payee, pay to Payee in addition to the interest otherwise
required to be paid hereunder, on each Interest Payment Date thereafter, the Excess Interest Amount (calculated as of such later Interest Payment Date); provided that in no event shall Maker be required to pay interest at a rate exceeding the
Maximum Rate effective during such period. 
 6. Default Rate of Interest. From and after the occurrence and during the
continuance of an Event of Default, this Note shall bear interest at any rate equal to or less than the Maximum Rate, as chosen by Payee, at its discretion. All past due principal and, to the extent permitted by applicable law, interest upon this
Note shall bear interest at any rate equal to or less than the Maximum Rate, as chosen by Payee, at its discretion. 
 7.
Interest Option. Subject to the provisions hereof (including clause (c) below), Maker shall have the option (an “Interest Option”) to designate portions of the unpaid principal balance hereof to bear interest at a rate
based upon the LIBOR Base Rate or WFB Base Rate as provided in paragraph 4 hereof; provided, however, that (a) except in the case of any advance under this Note made by Payee to repay any negative cash balance of Maker
relating to cash management services provided by Payee, in the case of selection of the WFB Base Rate, such advance shall not be less than $100,000 (or, if greater than $100,000, in integral multiples of $100,000 in excess thereof), (b) in the
case of the selection of the LIBOR Base Rate, the LIBOR Balance for a particular LIBOR Interest Period shall not be less than $250,000 (or, if greater than $250,000, in integral multiples of $100,000 in excess thereof), and (c) notwithstanding
anything to the contrary contained herein, Maker shall not have the option to designate portions of the unpaid principal balance hereof to bear interest at a rate based upon the WFB Base Rate unless circumstances are such that designating such
principal balance to bear interest at a rate based upon the LIBOR Base Rate is not feasible or practical for any of the reasons specified in paragraph 8(a), 8(b) or 8(c) hereof; provided further, however,
that no more than five (5) LIBOR Balances shall be outstanding at any one time under this Note; provided further, however, that the sum of the aggregate amount of all LIBOR Balances and WFB Base Rate Balances outstanding
under this Note shall at no time exceed the Total Commitment. Subject to the foregoing, the option (or obligation, as applicable, if so required by clause (c) of this paragraph 7 above) of Maker to designate portions of the principal of
this Note to bear interest at a rate based upon the LIBOR Base Rate or WFB Base Rate shall be exercised in the manner provided below: 
 (i) At Time of Borrowing. Maker shall request advances under this Note in accordance with, and in the manner prescribed by, paragraph 2 hereof. In connection with any such advance request,
Maker shall give Payee an Interest Notice indicating the Interest Option selected with respect to the principal amount of the proposed borrowing. 

  
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Restated Revolving Line of Credit Note - Page 5 

 (ii) At Expiration of LIBOR Interest. At least three
(3) Business Days prior to the termination of any LIBOR Interest Period, Maker shall give Payee an Interest Notice indicating the Interest Option to be applicable to the corresponding LIBOR Balance, as appropriate, upon the expiration of such
LIBOR Interest Period. If the required Interest Notice shall not have been timely received by Payee prior to the expiration of the then relevant LIBOR Interest Period, Maker shall be deemed (A) to have selected a rate based upon the LIBOR Base
Rate, with a LIBOR Interest Period which is the same as the then relevant LIBOR Interest Period, to be applicable to such LIBOR Balance or, if but only if Maker is then permitted to select a rate based upon the WFB Base Rate in accordance with
clause (c) of this paragraph 7 above, to have selected a rate based upon the WFB Base Rate to be applicable to such LIBOR Balance, and, in each case, such LIBOR Balance shall thereafter continue to be a LIBOR Balance or shall
thereafter be a WFB Base Rate Balance (as applicable) upon the expiration of such LIBOR Interest Period, and (B) to have given Payee notice of such selections. 

(iii) Conversion From WFB Base Rate. During any period in which any portion of the principal hereof bears interest
at a rate based upon the WFB Base Rate, Maker shall have the right (or obligation, as applicable, if so required by clause (c) of this paragraph 7 above), on any Business Day (the “Conversion Date”), to convert all or a
portion of such principal amount from the WFB Base Rate Balance to a LIBOR Balance by giving Payee an Interest Notice of such selection at least three (3) Business Days prior to such Conversion Date for any LIBOR Balance. 

8. Special Provisions For LIBOR Pricing. 
 (a) Inadequacy of LIBOR Pricing. If Payee reasonably determines that, by reason of circumstances affecting the interbank market generally, deposits in Dollars (in the applicable amounts) are not
being offered to Payee in the interbank market for any LIBOR Interest Period, or that the rate at which such Dollar deposits are being offered will not adequately and fairly reflect the cost to Payee of making or maintaining a LIBOR Balance for such
LIBOR Interest Period, Payee shall forthwith give notice thereof to Maker, whereupon until Payee notifies Maker that the circumstances giving rise to such suspension no longer exist, (i) the right of Maker to select an Interest Option based
upon the LIBOR Base Rate shall be suspended, and (ii) Maker shall convert each LIBOR Balance into the WFB Base Rate Balance in accordance with the provisions hereof on the last day of the then-current LIBOR Interest Period applicable to such
LIBOR Balance. 

  
 Seventh Amended and
Restated Revolving Line of Credit Note - Page 6 

 (b) Illegality. If, after the date hereof, the adoption of any applicable law, rule
or regulation, or any change therein, or any change in the interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by Payee
with any request or directive (whether or not having the force of law) of any such authority, central bank or comparable agency shall make it unlawful or impossible for Payee to make or maintain a LIBOR Balance, Payee shall so notify Maker. Upon
receipt of such notice, Maker shall convert such LIBOR Balance into the WFB Base Rate Balance, on either (i) the last day of the then-current LIBOR Interest Period applicable to such LIBOR Balance if Payee may lawfully continue to maintain and
fund such LIBOR Balance to such day, or (ii) immediately, if Payee may not lawfully continue to maintain such LIBOR Balance to such day. 
 (c) Increased Costs for LIBOR Balances. 
 (i) If, after the
date hereof, the adoption of any applicable law, rule or regulation, or any change therein, or any change in the interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the
interpretation or administration thereof, or compliance by Payee with any request or directive (whether or not having the force of law) of any such authority, central bank or comparable agency shall subject Payee to any tax (including without
limitation any United States interest equalization or similar tax, however named), duty or other charge with respect to the LIBOR Balances, this Note or Payee’s obligation to compute interest on the principal balance of this Note at a rate
based upon the LIBOR Base Rate, or shall change the basis of taxation of payments to Payee of the principal of or interest on the LIBOR Balances or any other amounts due under this Note in respect of the LIBOR Balances or Payee’s obligation to
compute the interest on the balance of this Note at a rate based upon the LIBOR Base Rate (except for changes in the rate on the tax on the overall net income of Payee imposed by the jurisdiction in which Payee’s principal executive office is
located); or 
 (ii) if, after the date hereof, any governmental authority, central bank or other comparable
authority shall at any time impose, modify or deem applicable any reserve (including, without limitation, any imposed by the Board of Governors of the Federal Reserve System but excluding any reserve requirement included in the Eurocurrency Reserve
Percentage of Payee), special deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by, Payee, or shall impose on Payee (or its eurocurrency lending office) or the interbank market any other
condition affecting a LIBOR Balance, this Note or Payee’s obligation to compute the interest on the balance of this Note at a rate based upon the LIBOR Base Rate; and the result of any of the foregoing is to increase the cost to Payee of
maintaining a LIBOR Balance, or to reduce the amount of any sum received or receivable by Payee under this Note by an amount deemed by Payee to be material, then, upon demand by Payee, Maker shall pay to Payee such additional amount or amounts as
will compensate Payee for such increased cost or reduction, the amount of which, when aggregated with interest to be paid under the LIBOR Balance, does not exceed the interest which would have been payable had the balance been calculated using the
WFB Base Rate. Payee will promptly notify Maker of any event of which it has knowledge, occurring after the date hereof, which will entitle Payee to compensation pursuant to this paragraph. A certificate of Payee claiming compensation under this
paragraph and setting forth in reasonable detail the additional amount or amounts to be paid to Payee hereunder shall be conclusive in the absence of manifest error. 

  
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Restated Revolving Line of Credit Note - Page 7 

 (d) Effect on Balances. If notice has been given requiring a LIBOR Balance to be
repaid or converted to the WFB Base Rate Balance, then unless and until Payee notifies Maker that the circumstances giving rise to such repayment no longer apply, the Interest Option shall be a rate based upon the WFB Base Rate. If Payee notifies
Maker that the circumstances giving rise to such repayment or conversion no longer apply, Maker may thereafter select a rate based upon the LIBOR Base Rate in accordance with the terms of this Note. 

9. Extension, Place and Application of Payments. Subject to the terms of the definitions of LIBOR Interest Period, should the
principal of, or any interest on, this Note become due and payable on any day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day, and interest shall be payable with respect to such extension. All
payments of principal of, and interest on, this Note shall be made by Maker to Payee at Payee’s principal banking office in Dallas, Texas in federal or other immediately available funds. Payments made to Payee by Maker hereunder shall be
applied first to accrued interest and then to principal. 
 10. Repayments of WFB Base Rate Balances; Prepayments of LIBOR
Balances; Consequential Loss. Maker may repay any WFB Base Rate Balance at any time without premium or penalty and without prior notice. Maker may prepay any LIBOR Balance prior to the expiration of the applicable LIBOR Interest Period upon
three (3) Business Days prior written notice subject to Maker’s payment of the Consequential Loss incurred by Payee as a result of the timing of such prepayment; provided, however, that Maker shall not have the option to designate any
portion of the unpaid principal balance hereof to bear interest at a rate based upon the LIBOR Base Rate for a period of ninety (90) days following any such prepayment of any LIBOR Balance. Any repayment or permitted prepayment of principal
made hereunder shall not be less than $100,000 (or, if greater than $100,000, in integral multiples of $100,000) or such lesser amount as is then outstanding under this Note. Any repayment or permitted prepayment of principal made hereunder shall be
made together with interest accrued through the date of such repayment or prepayment, as applicable. 
 11. Advance
Notice. Payee will use its best efforts to supply the Maker advance notice of the interest and/or principal amounts that the Payee has calculated are due at the scheduled payment dates at least one day in advance, assuming the unpaid principal
balance and interest rate remain the same until such scheduled payment date. Notwithstanding the foregoing, no failure by the Payee to give such notice will reduce the obligation of the Maker to pay such amounts on the date they become due.

 12. Notices. All notices required or permitted hereunder shall be in writing and shall be deemed to have been given or
made as follows: (a) if sent by hand delivery, upon delivery; (b) if sent by registered or certified mail, return receipt requested, upon receipt (as indicated on the return receipt); and (c) if sent by facsimile, upon receipt (which
shall be confirmed by a confirmation report from the sender’s facsimile machine), addressed to Maker or Payee at the following respective addresses or such other address as such party may from time to time designate by written notice to the
other: 
  

			
	Payee:	  	Wells Fargo Bank, National Association
		  	1445 Ross Avenue, 3rd Floor
		  	MAC T5303-031
		  	Dallas, Texas 75202
		  	Attention: Julia Harman, Vice President
		  	Fax: (214) 953-3982

  
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Restated Revolving Line of Credit Note - Page 8 

			
	Maker:	  	Fossil Partners, L.P.
		  	2323 North Central Expressway
		  	Richardson, Texas 75082
		  	Attention: Mike L. Kovar
		  	Fax: (972) 498-9448

 13. Legal
Fees. If this Note is placed in the hands of any attorney for collection, or if it is collected through any legal proceeding at law or in equity or in bankruptcy, receivership or other court proceedings, Maker agrees to pay all costs of
collection including, but not limited to, court costs and reasonable attorneys’ fees. 
 14. Waivers. Maker and each
surety, endorser, guarantor and other party ever liable for payment of any sums of money payable on this Note, jointly and severally waive presentment and demand for payment, protest, notice of protest, intention to accelerate, acceleration and
nonpayment, or other notice of default, and agree that their liability under this Note shall not be affected by any renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the
payment of this Note, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. 

No waiver by Payee of any of its rights or remedies hereunder or under any other document evidencing or securing this Note or otherwise
shall be considered a waiver of any other subsequent right or remedy of Payee; no delay or omission in the exercise or enforcement by Payee of any rights or remedies shall ever be construed as a waiver of any right or remedy of Payee; and no
exercise or enforcement of any such rights or remedies shall ever be held to exhaust any right or remedy of Payee. 
 15.
Acceleration. If Maker fails or refuses to pay any part of the principal of or interest upon this Note as the same become due, or upon the occurrence and during the continuance of any Event of Default, then in any such event the holder hereof
may, at its option, declare the entire unpaid balance of principal and accrued interest on this Note to be immediately due and payable, and foreclose all liens and security interests securing payment hereof or any part hereof. 

  
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Restated Revolving Line of Credit Note - Page 9 

 16. Interest Laws; Spreading. Any provision herein, or in any document securing this
Note, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither Payee nor any holder hereof shall in any event
be entitled to contract for, charge, receive or collect, nor shall or may amounts received hereunder be credited, so that Payee or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be
charged to the person, partnership, firm or corporation primarily obligated to pay this Note at the time in question. If any construction of this Note or any document securing this Note, or any and all other papers, agreements or commitments,
indicate a different right given to Payee or any holder hereof to contract for, charge, receive or collect any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention
of the parties that this Note, and all other instruments securing the payment of this Note or executed or delivered in connection herewith, shall in all things comply with applicable law and proper adjustments shall automatically be made
accordingly. In the event that Payee or any holder hereof ever contracts for, charges, receives, collects or applies, as interest, any sum in excess of the Maximum Rate, if any, such excess amount shall be applied to the reduction of the unpaid
principal balance of this Note, and, if this Note is paid in full, any remaining excess shall be paid to Maker. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Maximum Rate, if any, Maker and
Payee or any holder hereof shall, to the maximum extent permitted under applicable law: (a) characterize any non-principal payment as an expense or fee rather than as interest, (b) exclude voluntary prepayments and the effects thereof, and
(c) “spread” the total amount of interest throughout the entire term of this Note; provided that if this Note is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the
actual period of existence thereof exceeds the Maximum Rate, if any, Payee or any holder hereof shall refund to Maker the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made
by the Payee or any holder hereof under this Note at the time in question. 
 17. Choice of Law. This Note is being
executed and delivered, and is intended to be performed, in the State of Texas. Except to the extent that the laws of the United States may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity,
construction, enforcement and interpretation of this Note. In the event of a dispute involving this Note or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court
of competent jurisdiction in Dallas County, Texas to the extent such dispute is not resolved by binding arbitration pursuant to the Payee’s current Arbitration Program described in paragraph 19 hereof. 

18. Loan Agreement. This Note is executed in connection with the Loan Agreement and the holder hereof is entitled to all the
benefits provided therein and in the other agreements, documents, instruments and certificates entered into in connection with the Loan Agreement. 
 19. AGREEMENT FOR BINDING ARBITRATION. The parties agree to be bound by the terms and provisions of the Payee’s current Arbitration Program which is incorporated by reference herein and
is acknowledged as received by the parties pursuant to which any and all disputes shall be resolved by mandatory binding arbitration upon the request of any party. 

  
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Restated Revolving Line of Credit Note - Page 10 

 20. Amendment and Restatement. This Note increases, amends, modifies and restates,
but does not extinguish the indebtedness evidenced by, that certain (a) Sixth Amended and Restated Revolving Line of Credit Note dated November 18, 2009, in the stated principal amount of $200,000,000, executed by Maker and payable to the
order of Payee, (b) Fifth Amended and Restated Revolving Line of Credit Note dated November 19, 2008, in the stated principal amount of $140,000,000, executed by Maker and payable to the order of Payee, (c) Fourth Amended and Restated
Revolving Line of Credit Note dated September 19, 2008, in the stated principal amount of $100,000,000, executed by Maker and payable to the order of Payee, (d) Third Amended and Restated Revolving Line of Credit Note dated
September 20, 2007, in the stated principal amount of $100,000,000, executed by Maker and payable to the order of Payee, (e) Second Amended and Restated Revolving Line of Credit Note dated September 21, 2006, in the stated principal
amount of $100,000,000, executed by Maker and payable to the order of Payee, (f) Amended and Restated Revolving Line of Credit Note dated September 22, 2005, in the stated principal amount of $100,000,000, executed by Maker and payable to
the order of Payee, and (g) Revolving Line of Credit Note dated September 23, 2004, in the stated principal amount of $50,000,000, executed by Maker and payable to the order of Payee. 

[THE REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 Seventh Amended and
Restated Revolving Line of Credit Note - Page 11 

 IN WITNESS WHEREOF, Maker has caused this Note to be duly executed and delivered in Dallas,
Texas, as of the date first above written. 
  

					
	FOSSIL PARTNERS, L.P.
		
	By:	 	Fossil, Inc.
	Title:	 	General Partner
			
		 	By:	 	 /s/ Mike L. Kovar

		 	Name:	 	Mike L. Kovar
		 	Title:	 	Executive Vice President, Chief
		 		 	Financial Officer and Treasurer

  
 Seventh Amended and
Restated Revolving Line of Credit Note - Page 12Amended and Restated Investors' Rights Agreement

 Exhibit 4.3 
 PEREGRINE SEMICONDUCTOR CORPORATION 
 SEVENTH AMENDED AND RESTATED

 INVESTOR RIGHTS AGREEMENT 
 August 17, 2006 

 TABLE OF CONTENTS 

 

					
	 	  	 Page

		
	 SECTION 1 Restrictions on Transferability; Registration Rights
	  	1
			
	 1.1
	  	Certain Definitions	  	1
			
	 1.2
	  	Restrictions	  	3
			
	 1.3
	  	Restrictive Legend	  	3
			
	 1.4
	  	Notice of Proposed Transfers	  	4
			
	 1.5
	  	Requested Registration	  	5
			
	 1.6
	  	Company Registration	  	7
			
	 1.7
	  	Registration on Form S-3	  	8
			
	 1.8
	  	Expenses of Registration	  	9
			
	 1.9
	  	Registration Procedures	  	10
			
	 1.10
	  	Indemnification	  	11
			
	 1.11
	  	Information by Holder	  	13
			
	 1.12
	  	Rule 144 Reporting	  	13
			
	 1.13
	  	Transfer of Registration Rights	  	13
			
	 1.14
	  	Standoff Agreement	  	13
			
	 1.15
	  	No Right to Delay Registration	  	14
			
	 1.16
	  	Termination of Rights	  	14
			
	 1.17
	  	Limitations on Subsequent Registration Rights	  	14
		
	 SECTION 2 Affirmative Covenants of the Company
	  	15
			
	 2.1
	  	Financial Information	  	15
			
	 2.2
	  	Inspection Rights	  	15
			
	 2.3
	  	Confidentiality	  	15
			
	 2.4
	  	Directors and Officers Insurance	  	16
			
	 2.5
	  	Key Man Life Insurance	  	16
			
	 2.6
	  	Termination of Covenants	  	16
		
	 SECTION 3 Right of First Offer For Company Securities
	  	16
			
	 3.1
	  	Right of First Offer	  	16
			
	 3.2
	  	Sale of Securities by Company	  	17
			
	 3.3
	  	Pro Rata Portion	  	17
			
	 3.4
	  	New Securities	  	17
			
	 3.5
	  	Termination of Right of First Offer	  	18

					
		
	 SECTION 4 Miscellaneous
	  	18
			
	 4.1
	  	Governing Law; Jurisdiction	  	18
			
	 4.2
	  	Successors and Assigns	  	18
			
	 4.3
	  	Notices, Etc	  	 18

			
	 4.4
	  	Delays or Omissions	  	 18

			
	 4.5
	  	Third Parties	  	 19

			
	 4.6
	  	Severability	  	 19

			
	 4.7
	  	Termination, Amendment and Waiver	  	 19

			
	 4.8
	  	Rights of Holders	  	 19

			
	 4.9
	  	Cooperation of Other Investors	  	20
			
	 4.10
	  	Covenant Not to Amend	  	20
			
	 4.11
	  	Amendment and Restatement of Prior Agreement	  	20
			
	 4.12
	  	Waiver of Right of First Offer	  	20
			
	 4.13
	  	Counterparts	  	20
			
	 4.14
	  	Titles and Subtitles	  	20
			
	 4.15
	  	Trustee Limitation of Liability	  	21

 SEVENTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 

THIS SEVENTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT (the “Agreement”) is entered into as of August 17, 2006
by and among Peregrine Semiconductor Corporation, a Delaware corporation (the “Company”), the persons set forth on the Schedule of Prior Investors attached hereto as EXHIBIT A hereto (the “Prior Investors”),
and the purchasers of the Company’s Series D1 Preferred Stock set forth on EXHIBIT B (the “New Investors”) (the Prior Investors and the New Investors are collectively referred to herein as the
“Investors”). 
 RECITALS 
 WHEREAS, the Company and the New Investors are entering into a Series D1 Preferred Stock Purchase Agreement (the “Purchase Agreement”) of even date herewith, pursuant to which the Company
shall sell, and the New Investors shall acquire, shares of the Company’s Series D1 Preferred Stock; 
 WHEREAS, in
connection with the Purchase Agreement, the Company has agreed to grant the New Investors certain rights as described herein; 

WHEREAS, the Company and the Prior Investors have previously entered into that certain Sixth Amended and Restated Investor Rights
Agreement dated as of October 20, 2004 (the “Prior Agreement”), and the Company and the undersigned Prior Investors desire to amend and restate in all respects the Prior Agreement as set forth in this Agreement. 

NOW, THEREFORE, in consideration of the mutual promises and covenants hereinafter set forth, the parties agree as follows: 

SECTION 1 

Restrictions on Transferability; Registration Rights 
 1.1 Certain Definitions. As used in this Agreement, the following terms shall have the following meanings: 
 “Commission” shall mean the Securities and Exchange Commission or any other federal agency at the time administering the Securities Act. 

“Eligible Securities” shall mean (i) Common Stock held by the Prior Investors on the date of this Agreement issued
upon conversion of the Series F Preferred Stock which was issued pursuant to that certain Series F Preferred Stock Purchase Agreement dated August 25, 1999 by and among the Company and the other parties thereto, (ii) Common Stock held by
the Prior Investors on the date of this Agreement issued upon conversion of the Series G Preferred Stock which was issued pursuant to that certain Series G Preferred Stock Purchase Agreement 

1 

 
dated September 29, 2000 by and among the Company and the other parties thereto, (iii) Common Stock issuable upon conversion of any Securities held by John B. Patton as of May 17,
1999, (iv) the Series A1 Preferred Stock held by the Prior Investors on the date of this Agreement, (v) the Series A1 Preferred Stock issuable upon conversion of notes or conversion or exercise of any warrant to purchase Series A1
Preferred Stock held by the Prior Investors or by Thomas Weisel Partners on the date of this Agreement, (vi) the Series B1 Preferred Stock held by the Prior Investors on the date of this Agreement; (vii) the Series C1 Preferred Stock held
by the Prior Investors on the date of this Agreement; (vii) the Series D1 Preferred Stock issued pursuant to the Purchase Agreement, and (viii) any Securities issued with respect to the foregoing upon any stock split, stock dividend,
recapitalization, or similar event or upon any exercise or conversion, as applicable. 
 “Exchange Act” shall
mean the Securities Exchange Act of 1934, as amended, or any similar federal statute, and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time. 

“Holder” shall mean any Investor and any person to whom registration rights under this Agreement have been transferred
in accordance with Section 1.13 hereof. 
 “Initial Public Offering” shall mean the first sale of
Securities of the Company pursuant to an effective registration statement. 
 “Initiating Holders” shall mean
Holders who in the aggregate hold 20% of the Registrable Securities then held by Holders assuming conversion or exercise, as applicable, of all Eligible Securities. 
 “Permitted Transferee” shall mean (i) any general partner or retired general partner of any Holder which is a partnership; (ii) any member (or member of member) of any Holder
that is a limited liability company; (iii) any family member of a Holder or trust for the benefit of any individual Holder; (iv) any Investor, (v) any person or entity which controls, is controlled by, or is under the common control
of any Investor, or (vi) or any other person reasonably acceptable to the Company to whom at least 100,000 shares of Eligible Securities are transferred. 
 The terms “register”, “registered” and “registration” refer to a registration effected by preparing and filing a registration statement in compliance
with the Securities Act, and the declaration or ordering of the effectiveness of such registration statement. 

“Registration Expenses” shall mean all expenses incurred by the Company in complying with Sections 1.5, 1.6 or 1.7
hereof, including, without limitation, all registration, qualification, stock exchange and filing fees, printing expenses, escrow fees, fees and disbursements of counsel for the Company and accountants and other persons retained by or for the
Company, blue sky fees and expenses, accounting fees and the expense of any special audits incident to or required by any such registration (but excluding the compensation of regular employees of the Company which shall be paid in any event by the
Company). 
 2 

 “Registrable Securities” means any shares of Common Stock which are
Eligible Securities, any shares of Common Stock issuable upon the exercise or conversion, as applicable, of Eligible Securities; provided, however, that shares of Common Stock shall be treated as Registrable Securities only if and so
long as they have not been (A) sold to or through a broker or dealer or underwriter in a public distribution or a public securities transaction, (B) sold in a transaction exempt from the registration and prospectus delivery requirements of
the Securities Act under Section 4(1) thereof so that all transfer restrictions and restrictive legends with respect thereto are removed upon the consummation of such sale or (C) sold in transactions in which the rights granted under this
Section 1 are not assigned in accordance with this Agreement. 
 “Restricted Securities” shall mean the
securities of the Company required to bear the legends set forth in Section 1.3 hereof. 
 “Securities”
shall mean shares of or securities convertible into or exercisable for any shares of, any class of capital stock of the Company. 
 “Securities Act” shall mean the Securities Act of 1933, as amended, or any similar federal statute and the rules and regulations of the Commission thereunder, all as the same shall be in
effect at the time. 
 “Selling Expenses” shall mean all underwriting discounts, selling commissions and stock
transfer taxes applicable to the securities registered by the Holders and all fees and disbursements of counsel for the Holders not included in the definition of Registration Expenses. 

1.2 Restrictions. No Eligible Securities shall be sold, assigned, transferred or pledged except upon the conditions specified in
this Agreement. Each Investor will cause any proposed purchaser, assignee, transferee or pledgee of its Eligible Securities to agree to take and hold such securities subject to the provisions and upon the conditions specified in this Agreement.

 1.3 Restrictive Legend. Each certificate representing Eligible Securities shall (unless otherwise permitted by the
provisions of Section 1.4 below) be stamped or otherwise imprinted with a legend in the following form (in addition to any legend required under applicable state securities laws): 

“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”). SUCH SHARES MAY NOT BE SOLD, TRANSFERRED OR PLEDGED IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS THE COMPANY RECEIVES AN OPINION OF COUNSEL (WHICH MAY BE COUNSEL FOR THE COMPANY) OR OTHER
EVIDENCE REASONABLY ACCEPTABLE TO IT STATING THAT SUCH SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE SECURITIES ACT.” 
 3 

 “THE SHARES REPRESENTED BY THIS CERTIFICATE MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH
THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.” 
 “THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A MARKET STAND-OFF AGREEMENT IN THE EVENT OF A PUBLIC OFFERING, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.”

 Each Investor consents to the Company making a notation on its records and giving instructions to any transfer agent of the
Restricted Securities in order to implement the restrictions on transfer established in this Section 1. 
 1.4 Notice of
Proposed Transfers. Each Holder of each certificate representing Restricted Securities, by acceptance thereof, agrees to comply in all respects with the restrictions on transfer contained in Sections 1.2, 1.3, 1.4, 1.13 and 1.14 of this Agreement.
Prior to any proposed sale, assignment, transfer or pledge of any Restricted Securities (other than any transfer not involving a change in beneficial ownership), unless there is in effect a registration statement under the Securities Act covering
the proposed transfer, the Holder thereof shall give written notice to the Company of such Holder’s intention to effect such transfer, sale, assignment or pledge. Each such notice shall describe the manner and circumstances of the proposed
transfer, sale, assignment or pledge in sufficient detail, and shall be accompanied at such Holder’s expense by either (i) a written opinion of legal counsel who shall, and whose legal opinion shall be, reasonably satisfactory to the
Company, addressed to the Company, to the effect that the proposed transfer of the Restricted Securities may be effected without registration under the Securities Act, or (ii) a “no action” letter from the Commission to the effect
that the transfer of such securities without registration will not result in a recommendation by the staff of the Commission that action be taken with respect thereto, or (iii) any other evidence reasonably satisfactory to counsel to the
Company, whereupon the Holder of such Restricted Securities shall be entitled to transfer such Restricted Securities in accordance with the terms of the notice delivered by the Holder to the Company. Each certificate evidencing the Restricted
Securities transferred as above provided shall bear, except if such transfer is made pursuant to Rule 144, the appropriate restrictive legend set forth in Section 1.3 above, except that such certificate shall not bear such restrictive legend
if, in the opinion of counsel for such Holder and the Company, such legend is not required in order to establish compliance with any provisions of the Securities Act or this Agreement. 

Notwithstanding the foregoing, no such registration statement, opinion of counsel or “no action” letter shall be necessary for
a transfer by a Holder which is (A) a partnership to its partners or former partners in accordance with partnership interests, (B) a corporation to its stockholders in accordance with their interest in the corporation, (C) a limited
liability company to its members or former members in accordance with their interest in the limited liability company, or (D) to the Holder’s family member or trust for the benefit of an individual Holder; 

4 

 
provided that in each case the transferee will be subject to the terms of this Agreement to the same extent as if he were an original Holder hereunder. 

1.5 Requested Registration. 
 (a) Request for Registration. In case the Company shall receive from Initiating Holders a written request that the Company effect any registration with respect to a public offering, the reasonably
anticipated aggregate price to the public of which would exceed $7,500,000, the Company will: 
 (i) promptly give written
notice of the proposed registration to all other Holders; and 
 (ii) use its best efforts to effect as soon as practicable
such registration (including, without limitation, the execution of an undertaking to file post-effective amendments, appropriate qualification under applicable blue sky or other state securities laws and appropriate compliance with applicable
regulations issued under the Securities Act and any other governmental requirements or regulations) as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Registrable Securities as are
specified in such request, together with all or such portion of the Registrable Securities of any Holder or Holders joining in such request as are specified in a written request received by the Company within 15 days after receipt of the written
notice from the Company; provided, however, that the Company shall not be obligated to take any action to effect any such registration pursuant to this Section 1.5: 

(1) In any particular jurisdiction in which the Company would be required to execute a general consent to service of process in
effecting such registration unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act; 
 (2) Prior to 6 months following the closing of the Company’s Initial Public Offering; 
 (3) If the Company has already effected a registration pursuant to Section 1.7 or this Section 1.5 within the last 6 months; 

(4) During the period starting with the date 60 days prior to the Company’s estimated date of filing of, and ending on the date
three months immediately following the effective date of, any registration statement (other than a registration of Securities in a Rule 145 transaction or with respect to an employee benefit plan) pertaining to Securities of the Company (subject to
Section 1.6(a) hereof), provided that the Company is actively employing in good faith all reasonable efforts to cause such registration statement to be filed and become effective and that the Company provides the Initiating Holders written
notice of its intent to file such registration statement within 30 days of receiving the request for registration from the Initiating Holders; 
 5 

 (5) After the Company has effected two registrations pursuant to this Section 1.5; or

 (6) If the Company shall furnish to such Holders a certificate, signed by the President of the Company, stating that in the
good faith judgment of the Board of Directors it would be seriously detrimental to the Company or its stockholders for a registration statement to be filed in the near future, in which case the Company’s obligation to use its best efforts to
register under this Section 1.5 shall be deferred for a period not to exceed 90 days from the date of receipt of written request from the Initiating Holders; provided, however, that the Company may not utilize this right more than once in any
12-month period. 
 Subject to the foregoing clauses (1) through (6), the Company shall file a registration statement
covering the Registrable Securities so requested to be registered as soon as practicable after receipt of the request of the Initiating Holders. 
 (b) Underwriting. If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as part of their
request made under Section 1.5(a), and the Company shall so advise the Holders as part of the notice given pursuant to Section 1.5(a)(i). The right of any Holder to registration pursuant to Section 1.5 shall be conditioned upon such
Holder’s participation in the underwriting arrangements required by this Section 1.5 and the inclusion of such Holder’s Registrable Securities in the underwriting, to the extent requested and provided herein. 

The Company shall (together with all Holders proposing to distribute their securities through such underwriting) enter into an
underwriting agreement in customary form with the managing underwriter selected for such underwriting by the Initiating Holders and reasonably acceptable to the Company. Notwithstanding any other provision of this Section 1.5, if the managing
underwriter advises the Company in writing that marketing factors require a limitation of the number of shares to be underwritten, then the Company shall so advise all Holders of Registrable Securities who indicated their intent to participate in
the registration in a timely manner, and the number of shares of Registrable Securities that may be included in the registration and underwriting shall be allocated among such Holders in proportion, as nearly as practicable, to the respective
amounts of Registrable Securities held by such Holders at the time of filing the registration statement, provided, however, that the number of shares of Registrable Securities to be included in such underwriting shall not be reduced
unless all other Securities are first entirely excluded from the underwriting. No Registrable Securities excluded from the underwriting by reason of the underwriter’s marketing limitation shall be included in such registration. To facilitate
the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest 100 shares. 

If any Holder of Registrable Securities disapproves of the terms of the underwriting, such person may elect to withdraw therefrom by
written notice to the Company, the managing underwriter and the Initiating Holders. The Registrable Securities so withdrawn shall also be withdrawn from registration and shall be subject to the provisions of Section 1.14 hereof. 

6 

 1.6 Company Registration. 

(a) Notice of Registration. If at any time or from time to time, the Company shall determine to register any Common Stock, either
for its own account or the account of a security holder or holders other than (i) a registration relating to employee benefit plans, (ii) a registration relating to the offer and sale of debt securities; (iii) a registration relating
to a Commission Rule 145 transaction, or (iv) a registration pursuant to Sections 1.5 or 1.7 hereof, the Company will: 

(i) promptly give to each Holder written notice thereof; and 
 (ii) include in such registration (and any related qualification under blue sky laws or other compliance), and in any underwriting involved therein, all the Registrable Securities specified in a written
request or requests made within 15 days after receipt of such written notice from the Company by any Holder. 
 (b)
Underwriting. If the registration of which the Company gives notice is for a registered public offering involving an underwriting, the Company shall so advise the Holders in a written notice given pursuant to this Section 1.6. In such
event, the right of any Holder to registration pursuant to this Section 1.6 shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of Registrable Securities in the underwriting to the extent provided
herein. 
 All Holders proposing to distribute their securities through such underwriting shall (together with the Company and
the other holders distributing their securities through such underwriting) enter into an underwriting agreement in customary form with the managing underwriter selected for such underwriting by the Company. Notwithstanding any other provision of
this Section 1.6, if the managing underwriter advises the Company in writing that marketing factors require a limitation of the number of shares to be underwritten, then the Company shall so advise all Holders of Registrable Securities and the
number of shares of Registrable Securities that may be included in the registration and underwriting shall be allocated among all Holders thereof in proportion, as nearly as practicable, to the respective amounts of Registrable Securities held by
such Holders at the time of filing the registration statement, provided, however, that shares of Registrable Securities of Holders shall not be excluded from the underwriting unless all other securities (other than securities being
sold by the Company) are first entirely excluded from the underwriting; provided further that, unless such registration is in connection with the Company’s initial public offering, the number of Registrable Securities permitted to be included
therein shall in any event be at least 30% of the number of shares of Common Stock included therein. Subject to the foregoing sentence, no Registrable Securities excluded from the underwriting by reason of the underwriter’s marketing limitation
shall be included in such registration. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest 100 shares. The Company may
include shares of Common Stock held by stockholders other than Holders in a registration statement pursuant to this Section 1.6 to the extent that the amount of Registrable Securities otherwise includible in such registration 

7 

 
statement would not thereby be diminished and including such other shares will not, in the judgment of the underwriter, have a detrimental effect on the offering. 

If any Holder or other holder disapproves of the terms of any such underwriting, he or she may elect to withdraw therefrom by written
notice to the Company and the managing underwriter. The Registrable Securities so withdrawn shall also be withdrawn from such registration, and shall be subject to the provisions of Section 1.14 hereof. 

(c) Right to Terminate Registration. The Company shall have the right to terminate or withdraw any registration initiated by it
under this Section 1.6 prior to the effectiveness of such registration, whether or not any Holder has elected to include securities in such registration. 
 1.7 Registration on Form S-3. 
 (a) If any Holder or Holders request that
the Company file a registration statement on Form S-3 (or any successor form to Form S-3) for a public offering of Registrable Securities, the reasonably anticipated aggregate price to the public of which, net of underwriting discounts and
commissions, would exceed (i) $1,000,000, or (ii) the maximum amount of Registrable Securities subject to sale under Rule 144 with the then current volume restrictions, whichever is greater, and the Company is then entitled to use Form S-3
under applicable Commission rules to register the Registrable Securities for such an offering, the Company will: 
 (i)
promptly give written notice of the proposed registration to all other Holders; and 
 (ii) use its best efforts to effect as
soon as practicable such registration (including, without limitation, the execution of an undertaking to file post-effective amendments, appropriate qualification under applicable blue sky or other state securities laws and appropriate compliance
with applicable regulations issued under the Securities Act and any other governmental requirements or regulations) as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Registrable
Securities as are specified in such request, together with all or such portion of the Registrable Securities of any Holder or Holders joining in such request as are specified in a written request received by the Company within 15 days after receipt
of the written notice from the Company; provided, however, that the Company shall not be obligated to take any action to effect any such registration pursuant to this Section 1.7: 

(1) in any particular jurisdiction in which the Company would be required to execute a general consent to service of process in
effecting such registration, qualification or compliance unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act; 

(2) if the Company, within ten (10) days of the receipt of the request for registration pursuant to this Section 1.7, gives
notice of its bona fide intention to effect the filing of a registration statement with the Commission within ninety (90) days of receipt of such 
 8 

 
request (other than with respect to a registration statement relating to a Rule 145 transaction or an employee benefit plan or any other registration which is not appropriate for the registration
of Registrable Securities); 
 (3) during the period starting with the date sixty (60) days prior to the Company’s
estimated date of filing of, and ending on the date three months immediately following, the effective date of any registration statement pertaining to Securities of the Company (other than with respect to a registration statement relating to a Rule
145 transaction or an employee benefit plan), provided that the Company is actively employing in good faith all reasonable efforts to cause such registration statement to be filed and become effective; 

(4) if the Company has already effected a registration pursuant to Section 1.5 or this Section 1.7 within the last six months;
or 
 (5) if the Company shall furnish to such Holder or Holders a certificate signed by the President of the Company stating
that in the good faith judgment of the Board of Directors it would be seriously detrimental to the Company or its stockholders for registration statements to be filed in the near future, then the Company’s obligation to use its best efforts to
file a registration statement shall be deferred for a period not to exceed 90 days from the receipt of the request to file such registration by such Holder or Holders. 
 Subject to the foregoing clauses (1) through (5), the Company shall file a registration statement covering the Registrable Securities so requested to be registered as soon as practicable after
receipt of the request from the Holders. 
 (b) Underwriting. If the Holders requesting registration intend to distribute
the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as part of their request made under Section 1.7(a), and the Company shall so advise the Holders as part of the notice given
pursuant to Section 1.7(a)(i). The substantive provisions of Section 1.5(b) shall otherwise apply to such registration. 
 1.8 Expenses of Registration. All Registration Expenses incurred in connection with any registration pursuant to Sections 1.5, 1.6 and 1.7 shall be borne by the Company. If a registration
proceeding is begun upon the request of Holders pursuant to Section 1.5 or 1.7, but such request is subsequently withdrawn at the request of the Holders, then the Holders of Registrable Securities to have been registered may either:
(i) bear all Registration Expenses of such proceeding, pro rata on the basis of the number of shares to have been registered, in which case the Company shall be deemed not to have effected a registration pursuant to Section 1.5(a) or
1.7(a) of this Agreement as applicable; or (ii) require the Company to bear all Registration Expenses of such proceeding, in which case the Company shall be deemed to have effected a registration pursuant to Section 1.5(a) or
Section 1.7(a) of this Agreement as applicable; provided, however, that if the withdrawal is based upon material adverse information concerning the Company of which the Initiating Holders were not aware at the time of such
request, no such registration under Sections 1.5(a) or 1.7(a) shall be deemed to have been effected. Unless otherwise stated, all other Selling Expenses relating to securities registered on behalf of the 

9 

 
Holders shall be borne by the Holders of the registered securities included in such registration pro rata on the basis of the number of shares so registered. 

1.9 Registration Procedures. In the case of each registration, qualification or compliance effected by the Company pursuant to
this Section 1, the Company will keep each Holder advised in writing as to the initiation of each registration, qualification and compliance and as to the completion thereof. At its expense the Company will: 

(a) Prepare and file with the Commission a registration statement with respect to such securities and use its best efforts to cause such
registration statement to become and remain effective for at least sixty (60) days or until the distribution described in the registration statement has been completed. 
 (b) Prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection with such registration statement as may be necessary to comply
with the provisions of the Act with respect to the disposition of all securities covered by such registration statement. 
 (c)
Furnish to the Holders participating in such registration and to the underwriters of the securities being registered such reasonable number of copies of the registration statement, preliminary prospectus, final prospectus and such other documents as
such underwriters may reasonably request in order to facilitate the public offering of such securities. 
 (d) Use its best
efforts to register and qualify the securities covered by such registration statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Holders; provided that the Company shall not be required
in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as
may be required by the Securities Act. 
 (e) In the event of any underwritten public offering, enter into and perform its
obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering. Each Holder participating in such underwriting shall also enter into and perform its obligations under such an agreement.

 (f) Notify each Holder of Registrable Securities covered by such registration statement at any time when a prospectus
relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or
omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing. 
 (g) Cause all such Registrable Securities registered pursuant hereunder to be listed on each securities exchange, or quoted in a U.S. automated inter-dealer quotation system, as the case may be, on which
similar securities issued by the Company are then listed, or quoted. 
 10 

 (h) Provide a transfer agent and registrar for all Registrable Securities registered
pursuant hereunder and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration. 
 1.10 Indemnification. 
 (a) The Company will indemnify and defend each
Holder, each of its officers, directors and partners, and each person controlling such Holder within the meaning of Section 15 of the Securities Act, with respect to which registration, qualification or compliance has been effected pursuant to
this Section 1, and each underwriter, if any, and each person who controls any underwriter within the meaning of Section 15 of the Securities Act, against all expenses, claims, losses, damages or liabilities (or actions in respect
thereof), including any of the foregoing incurred in settlement of any litigation, commenced or threatened, arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any registration statement,
prospectus, preliminary prospectus, free writing prospectus, offering circular or other document, or any amendment or supplement thereto, incident to any such registration, qualification or compliance, or based on any omission (or alleged omission)
to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading, or any violation or any alleged violation by the Company of the
Securities Act or the Exchange Act or any state securities law, or any rule or regulation promulgated thereunder, applicable to the Company in connection with any such registration, qualification or compliance, and the Company will reimburse each
such Holder, each of its officers and directors, and each person controlling such Holder, each such underwriter and each person who controls any such underwriter, for any legal and any other expenses reasonably incurred in connection with
investigating, preparing or defending any such claim, loss, damage, liability or action, as such expenses are incurred, provided that the Company will not be liable in any such case to the extent that any such claim, loss, damage, liability or
expense arises out of or is based on any untrue statement or omission or alleged untrue statement or omission, made in reliance upon and in conformity with written information furnished to the Company by an instrument duly executed by such Holder,
controlling person or underwriter and stated to be specifically for use therein. 
 (b) Each Holder, severally, and not jointly,
will, if Registrable Securities held by such Holder are included in the securities as to which such registration, qualification or compliance is being effected, indemnify the Company, each of its directors and officers, each underwriter, if any, of
the Company’s securities covered by such a registration statement, each person who controls the Company or such underwriter within the meaning of Section 15 of the Securities Act, and each other such Holder, each of its officers, directors
and partners and each person controlling such Holder within the meaning of Section 15 of the Securities Act, against all claims, losses, damages and liabilities (or actions in respect thereof) arising out of or based on any untrue statement (or
alleged untrue statement) of a material fact contained in any such registration statement, prospectus, offering circular or other document, or any omission (or alleged omission) to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, and will reimburse the Company, such Holders, such directors, officers, partners, persons, underwriters or control persons for any legal or any other expenses reasonably incurred in connection
with investigating or defending any such claim, loss, 
 11 

 
damage, liability or action, as such expenses are incurred, in each case to the extent, but only if and to the extent, that such untrue statement (or alleged untrue statement) or omission (or
alleged omission) is made in such registration statement, prospectus, offering circular or other document in reliance upon and in conformity with written information furnished to the Company by an instrument duly executed by such Holder and stated
to be specifically for use therein; provided, however, that the liability of a Holder pursuant to this Section 1.10(b) shall be limited to the proceeds (net of underwriting commissions and discounts and any contribution payments
made by such Holder pursuant to Section 1.10(d)) received by the Holder from the sale of securities of the Company pursuant to such Registration Statement. 
 (c) Each party entitled to indemnification under this Section 1.10 (the “Indemnified Party”) shall give notice to the party required to provide indemnification (the
“Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation
resulting therefrom, provided that counsel for the Indemnifying Party, who shall conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not unreasonably be withheld), and the Indemnified
Party may participate in such defense at such party’s expense; provided, however, that an Indemnified Party (together with all other Indemnified Parties which may be represented without conflict by one counsel) shall have the right to retain
one separate counsel, with the fees and expenses to be paid by the Indemnifying Party, if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing
interests between such Indemnified Party and any other party represented by such counsel in such proceeding. The failure of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under
this Section 1 unless the failure to give such notice is materially prejudicial to an Indemnifying Party’s ability to defend such action. No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the consent
of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in
respect to such claim or litigation. 
 (d) If recovery is not available under the foregoing indemnification provisions of this
Section 1.10, for any reason other than as specified therein, the parties entitled to indemnification by the terms thereof shall be entitled to contribution for liabilities and expenses from the parties liable for indemnification, except to the
extent that contribution is not permitted under Section 11(f) of the Securities Act. In determining the amount of contribution to which the respective parties are entitled, there shall be considered the relative benefits received by each party
from the offering of the securities (taking into account the portion of the proceeds of the offering realized by each), the parties’ relative knowledge and access to information concerning the matter with respect to which the claim was
asserted, the opportunity to correct and prevent any statement of omission, and any other equivalent considerations appropriate under the circumstances; provided, however, that the liability of a Holder pursuant to this Section 1.10(b) shall be
limited to the proceeds (net of underwriting commissions and discounts and any indemnification payments made by such Holder pursuant to Section 1.10(b)) received by the Holder from the sale of securities of the Company pursuant to such
Registration Statement. 
 12 

 1.11 Information by Holder. The Holder or Holders of Registrable Securities included
in any registration shall furnish to the Company such information regarding such Holder or Holders, the Securities held by them and the distribution proposed by such Holder or Holders as the Company may reasonably request in writing and as shall be
required in connection with any registration referred to in this Section 1. 
 1.12 Rule 144 Reporting. With a view
to making available the benefits of certain rules and regulations of the Commission which may at any time permit the sale of the Restricted Securities to the public without registration, after such time as a public market exists for the Common Stock
of the Company, the Company agrees to use its best efforts to: 
 (a) Make and keep public information available, as those terms
are understood and defined in Rule 144 under the Securities Act, at all times after the effective date that the Company becomes subject to the reporting requirements of the Securities Act or the Securities Exchange Act of 1934, as amended (the
“Exchange Act”); 
 (b) File with the Commission in a timely manner all reports and other documents required of
the Company under the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements); and 
 (c) So long as an Investor owns any Restricted Securities, furnish to the Investor forthwith upon request a written statement by the Company as to its compliance with the reporting requirements of said
Rule 144 (at any time after ninety (90) days after the effective date of the first registration statement filed by the Company for an offering of its securities to the general public), and of the Securities Act and the Exchange Act (at any time
after it has become subject to such reporting requirements), a copy of the most recent annual or quarterly report of the Company, and such other reports and documents of the Company and other information in the possession of or reasonably obtainable
by the Company as an Investor may reasonably request in availing itself of any rule or regulation of the Commission allowing an Investor to sell any such securities without registration. 

1.13 Transfer of Registration Rights. The rights to cause the Company to register Registrable Securities granted the Investors
under Sections 1.5, 1.6 and 1.7 may be assigned to a transferee or assignee in connection with any transfer or assignment of Eligible Securities by an Investor; provided that (a) such transfer may otherwise be effected in accordance with
applicable securities laws, (b) notice of such assignment is given to the Company, (c) such transferee is a Permitted Transferee and (d) such transfer is pursuant to a written agreement acknowledged by the Company which acknowledgment
shall not be withheld if the transfer provisions of this Agreement are met. 
 1.14 Standoff Agreement. Each Holder
agrees in connection with any registration of the Company’s securities (other than a registration of debt securities, securities in a Rule 145 transaction or with respect to an employee benefit plan), upon notice by the Company or the
underwriters managing any underwritten public offering of the Company’s securities, not to sell, make any short sale of, loan, pledge (or otherwise encumber or hypothecate), grant any option for the purchase of, or otherwise directly or
indirectly dispose of any Securities (other than those 

  
 13 

 
(i) included in the registration or (ii) transferred to a Permitted Transferee who agrees to be similarly bound under this Section 1.14) without the prior written consent of the Company
and such managing underwriters for such period of time as the Board of Directors establishes pursuant to its good faith negotiations with such managing underwriters, which period shall not exceed 180 days in the case of the Initial Public Offering
or 90 days otherwise, provided that (i) such 180 day or 90 day period, as applicable, may be extended to the extent necessary to permit the underwriters to comply with NASD Rule 2711(f)(4), (ii) each officer and director of the Company and
each holder of at least 1% of the outstanding Common Stock (on a fully-diluted basis) shall enter into similar agreements or otherwise shall be bound by similar provisions, (iii) such restrictions shall not apply to equity securities purchased
in the Initial Public Offering or in the open market following the offering and (iv) any Investor may transfer any such shares to a Permitted Transferee, provided such Permitted Transferee is bound by comparable restrictions on transfer of such
shares. Each Holder hereby consents to the placement of stop transfer orders with the Company’s transfer agent in order to enforce the foregoing provision and agrees to execute a market standoff agreement with said underwriters in customary
form consistent with the provisions of this Section 1.14. 
 1.15 No Right to Delay Registration. No Holder shall
restrain, enjoin, or otherwise delay any registration hereunder, notwithstanding any controversy that might arise with respect to the interpretation or implementation of this Agreement. 

1.16 Termination of Rights. The rights of any particular Holder to cause the Company to register securities
under Sections 1.5, 1.6 and 1.7 shall terminate with respect to such Holder on the earlier of (i) the fifth
(5th) anniversary of the effective date of the
Company’s Initial Public Offering or (ii) such time as such Holder may sell all eligible securities held by such Holder in one day to the public without any restrictions imposed by the Company or pursuant to the Securities Act and without
registration under Section 5 of the Securities Act whether pursuant to Rule 144 or another applicable exemption. All other provisions hereof relating to registration rights shall continue to be effective despite any termination of such
registration rights pursuant to this section. 
 1.17 Limitations on Subsequent Registration Rights. From and after the
date of this Agreement, the Company shall not enter into any agreement granting any holder or prospective holder of any securities of the Company registration rights with respect to such securities unless (i) such new registration rights are
subordinate to the registration rights granted Holders hereunder and include similar market stand-off obligations or (ii) such new registration rights are approved by the Holders of a majority of the shares of Series C1 Preferred Stock and
Series D1 Preferred Stock then held by Holders, voting together as a single class. 

  
 14 

 SECTION 2 
 Affirmative Covenants of the Company 
 The Company hereby covenants and
agrees as follows: 
 2.1 Financial Information. The Company will furnish to each Investor who holds at least 100,000
shares of Eligible Securities (on an as converted to Common Stock basis): 
 (a) as soon as practicable after the end of each
fiscal year, and in any event within 90 days thereafter audited annual financial statements of the Company and its subsidiaries, if any, as of the end of each such year, a statement of income and cash flows of the Company and its subsidiaries, if
any, for each such year, and a statement of stockholders’ equity of the Company and its subsidiaries, if any, for each such year all prepared in accordance with generally accepted accounting principles; 

(b) as soon as practicable after the end of each fiscal quarter, and in any event within 45 days thereafter, unaudited consolidated
balance sheets of the Company and its subsidiaries, if any, as of the end of such fiscal quarter, and unaudited consolidated statements of income and cash flow for such period and for the current fiscal year to date. 

(c) as soon as practicable after the end of each calendar month, and in any event within 30 days thereafter, unaudited consolidated
balance sheets of the Company and its subsidiaries, if any, as of the end of such calendar month, and unaudited consolidated statements of income and cash flow for such period and for the current fiscal year to date. 

(d) as soon as practicable upon approval or adoption by the Company’s Board of Directors, and in any event within 60 days after the
start of a fiscal year, the Company’s budget and operating plan for such fiscal year. 
 2.2 Inspection Rights. Upon
reasonable notice, the Company will permit each Investor to visit and inspect during normal business hours any of the properties of the Company, to examine its books and records, and to discuss with its officers the business, affairs, finances and
accounts of the Company, at such reasonable times as such Investor may desire without disruption of the Company’s normal business and affairs for any reasonable purpose relating to its investment in the Company. The Company will provide each
Investor with such information regarding the Company as it shall reasonably request for purposes relating to its investment in the Company. The foregoing rights shall be limited by the Company’s reasonable need to keep sensitive business and
technical information confidential. 
 2.3 Confidentiality. Each Investor agrees that any information obtained by such
Investor pursuant to this Section 2 which is identified by the Company as being proprietary to the Company or otherwise confidential will not be disclosed without the prior written consent of the Company. Each Investor further acknowledges and
understands that any information so obtained which is identified by the Company as being “inside” non-public information will not be utilized by such Investor in connection with purchases and/or sales of the Company’s

  
 15 

 
securities except in compliance with applicable state and federal anti-fraud statutes. The provisions of this Section 2 shall not be in limitation of any rights which Investor may have with
respect to the books and records of the Company, or to inspect its properties or discuss its affairs, finances and accounts, under the laws of the jurisdictions in which it is incorporated. 

2.4 Directors and Officers Insurance. The Company shall maintain at all times directors and officers liability insurance in the
minimum amount of $5 million. Immediately prior to the Company’s Initial Public Offering, the Company shall increase the amount of directors and officers liability coverage to $10 million. 

2.5 Key Man Life Insurance. The Company shall use its reasonable best efforts after the date hereof to obtain and maintain a key
man life insurance policy in the amount of $1,000,000 for Dr. James Cable, the proceeds of which shall be payable to the Company. 
 2.6 Termination of Covenants. The covenants set forth in this Section 2 shall terminate on, and be of no further force or effect after, the closing of the Company’s Initial Public
Offering. The rights granted pursuant to this Section 2 may be transferred only to a Permitted Transferee in connection with a transfer of Eligible Securities. 
 SECTION 3 
 Right of First Offer For Company Securities 

3.1 Right of First Offer. Subject to the terms and conditions specified in this Section 3, the Company hereby grants to each
holder of Series C1 Preferred Stock and Series D1 Preferred Stock (“Senior Preferred Holders”) the right to purchase its Pro Rata Portion of New Securities (as defined below) in any future sales by the Company of its New Securities. Each
time the Company proposes to offer any New Securities, the Company shall first make an offering of such New Securities to each Senior Preferred Holder in accordance with the following provisions: 

(a) The Company shall deliver a notice (“Notice”) to each Senior Preferred Holder stating (i) its intention to
offer such New Securities for sale, (ii) the total number of New Securities to be offered by the Company (the “Offered Securities”), (iii) the price at which it proposes to offer the New Securities, (iv) the terms of
such offer, (v) such Senior Preferred Holder’s Pro Rata Portion of the Offered Securities, and (vi) identify the persons or entities (if known) to which or with which the Offered Securities are to be offered. 

(b) Each Senior Preferred Holder may elect in a written notice delivered to the Company within fifteen (15) business days after
receipt of the Notice (the “Acceptance Notice”), to purchase, at the price and on the terms specified in the Notice, New Securities in an amount up to such Senior Preferred Holder’s Pro Rata Portion by providing the Company with
written notice of its election. If a Senior Preferred Holder wishes to purchase an amount of New Securities greater than its Pro Rata Portion, it shall state in its Acceptance Notice the maximum number of New Securities it will purchase (the
“Oversubscription Amount”). In the event that any Senior Preferred Holder does not elect to purchase its entire Pro Rata Portion, each of the 
 16 

 
participating Senior Preferred Holders shall have the right to subscribe for and purchase such portion of such New Securities equal to such Senior Preferred Holder’s Oversubscription Amount
divided by the Oversubscription Amounts of all Senior Preferred Holders as set forth in the aforementioned reply notices. 
 (c)
An election by a Senior Preferred Holder an Investor pursuant to Section 3.1(b) to purchase Offered Securities shall not be considered a binding commitment unless and until the Company receives binding commitments to purchase on the terms and
conditions contained in the Notice substantially all of the Offered Securities which the Senior Preferred Holders have not elected to purchase. 
 3.2 Sale of Securities by Company. Within 60 days of the expiration of the period described in Section 3.1(b), any Offered Securities which the Senior Preferred Holders have not elected to
purchase may be sold by the Company to any person or persons at a price not less than, and upon terms no more favorable to the offeree than, those specified in the Notice. If the Company does not complete the sale of all such Offered Securities
within said 60 day period, the rights of the Senior Preferred Holders with respect to any such unsold Offered Securities shall be deemed to be revived. 
 3.3 Pro Rata Portion. A Senior Preferred Holder’s “Pro Rata Portion” of New Securities shall equal that percentage of the Offered Securities equal to the number of shares of Eligible
Securities held by such Senior Preferred Holder which are Registrable Securities divided by the total number of outstanding shares of Common Stock of the Company. For the purposes of the foregoing calculations, all outstanding options and warrants
to purchase Preferred Stock shall be deemed to be exercised and all Preferred Stock shall be deemed to have been converted into Common Stock at the prevailing conversion rate. 
 3.4 New Securities. The term “New Securities” shall mean an offering or series of related offerings of securities by the Company for purpose of raising capital in a minimum amount of
$100,000; provided that New Securities shall not include securities of the Company sold in any of the following transactions: (i) the issuance or sale of shares of Common Stock or options to purchase Common Stock to employees, officers,
directors or consultants for the primary purpose of soliciting or retaining their services or such other amount as shall have been approved by the Board of Directors, (ii) the issuance of Securities to banks, equipment lessors or other
financial institutions in connection with commercial leasing or debt financing transactions relating to the acquisition or lease of assets by the Company approved by the Board of Directors, (iii) any issuances of Securities in connection with
any stock split, stock dividend or recapitalization by the Company, (iv) the issuance of Securities to suppliers or third party service providers in connection with the provision of goods or services in the ordinary course of business pursuant
to transactions approved by the Board of Directors, (v) the issuance of Securities in connection with (A) the acquisition of another corporation by the Company by merger, purchase or other reorganization as a result of which the Company
owns not less than a majority of the voting securities of such entity or (B) the purchase of substantially all of the assets of another entity, provided, that in either case such issuances are approved by the Board of Directors, (vi) the
issuance of Preferred Stock or Common Stock issuable upon conversion of notes or conversion or exercise of any warrant to purchase Preferred Stock or Common Stock outstanding 
 17 

 
on the date of this Agreement, or (vii) the issuance and sale of Series D1 Preferred Stock pursuant to the Purchase Agreement. 

3.5 Termination of Right of First Offer. The right of first offer contained in this section shall not apply to and shall terminate
upon the closing of an Initial Public Offering. The rights granted pursuant to this Section 3 may be transferred only to a Permitted Transferee in connection with the transfer of 50% or more of its Eligible Securities. 

SECTION 4 

Miscellaneous 
 4.1 Governing Law; Jurisdiction. This Agreement shall be construed in accordance with, and governed in all respects by, the laws of the State of California, as applied to agreements entered into,
and to be performed entirely in such state, between residents of such state. 
 The parties hereto agree to submit to the
non-exclusive jurisdiction of the federal and state courts of the State of California with respect to the breach or interpretation of this Agreement or the enforcement of any and all rights, duties, liabilities, obligations, powers, and other
relations between the parties arising under this Agreement. 
 4.2 Successors and Assigns. Except as otherwise 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 hereto. 
 4.3 Notices, Etc. All notices and other communications required or permitted hereunder, shall be in writing and shall be sent by facsimile personally delivered, mailed by registered or certified
mail, postage prepaid, return receipt requested, or otherwise delivered by a nationally-recognized overnight courier, addressed (a) if to an Investor, at Investor’s facsimile number or address as set forth in the records of the Company or
(b) if to any other holder of any Eligible Securities, at such address as such holder shall have furnished the Company in writing, or, until any such holder so furnishes an address to the Company, then to and at the address of the last holder
of such Eligible Securities who has so furnished an address or facsimile number to the Company, or (c) if to the Company, at its facsimile number or address set forth on the signature page hereto addressed to the attention of the Corporate
Secretary, or at such other address as the Company shall have furnished to the Investors. Any such notice or communication shall be deemed to have been received (A) in the case of personal delivery, on the date of such delivery, (B) in the
case of a nationally-recognized overnight courier, on the next business day after the date when sent, (C) in the case of mailing, on the third business day following that on which the piece of mail containing such communication is posted and
(D) in the case of delivery via facsimile, one (1) business day after the date of transmission provided that said transmission is confirmed telephonically on the date of transmission. 

4.4 Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any holder of any Shares upon any
breach or default of the Company under 
 18 

 
this Agreement shall impair any such right, power or remedy of such holder, 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 holder of any breach or default under this Agreement, or any waiver on the part of any holder 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 or as provided in this Agreement. All remedies, either under this Agreement or by law or otherwise afforded to any holder, shall be cumulative and not alternative. 

4.5 Third Parties. Nothing in this Agreement, express or implied, is intended to confer upon any party, other than the parties
hereto, and their respective successors and assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided herein. 

4.6 Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, portions of such
provisions, or such provisions in their entirety, to the extent necessary, shall be severed from this Agreement, and the balance of this Agreement shall be enforceable in accordance with its terms. 

4.7 Termination, Amendment and Waiver. Any provision of this Agreement may be amended or waived, and this Agreement in its entirety may
be terminated, with the written consent of the Company and the Holders of a majority of the outstanding shares of the Registrable Securities then held by holders of Common Stock issued or issuable upon conversion of Series A1 Preferred Stock, Series
B1 Preferred Stock, Series C1 Preferred Stock and Series D1 Preferred Stock; provided, however, that the provisions of Section 1.17, Section 3 and this Section 4.7 may be amended or waived only with the consent of
the holders of a majority of the Registrable Securities held by the Senior Preferred Holders, and the provisions of Section 4.9 and 4.10 may be amended or waived only with the consent of Wasserstein Adelson Ventures, L.P.
(“WAV”); provided, further, that no amendment or waiver may be effected with respect to a Holder of Registrable Securities without the prior written consent of such Holder unless such amendment or waiver applies to all Holders of
Registrable Securities in the same fashion and, provided, further, that this Agreement may be amended to add additional holders of Registrable Securities and to expand the definition on Eligible Securities in a grant of subsequent
registration rights pursuant to Section 1.17 hereof. Any amendment or waiver effected in accordance with this paragraph shall be binding upon each Holder and the Company. In addition, the Company may waive performance of any obligation owing to
it, as to some or all of the Holders, or agree to accept alternatives to such performance, without obtaining the consent of any Holder. In the event that an underwriting agreement is entered into between the Company and any Holder, and such
underwriting agreement contains terms differing from this Agreement, as to any such Holder the terms of such underwriting agreement shall govern. 
 4.8 Rights of Holders. Each Holder shall have the absolute right to exercise or refrain from exercising any right or rights that such holder may have by reason of this Agreement, including, without
limitation, the right to consent to the waiver or modification of any obligation 
 19 

 
under this Agreement, and such holder shall not incur any liability to any other holder of any Securities as a result of exercising or refraining from exercising any such right or rights.

 4.9 Cooperation of Other Investors. Each Investor agrees to cooperate with the Company in all reasonable respects in
complying with the terms and provisions of the letter agreements between the Company and WAV, a copy of which is attached hereto as EXHIBIT C, regarding small business matters (the “Small Business Side Letters”), including
without limitation, voting to approve amending the Company’s Restated Certificate of Incorporation, the Company’s Bylaws or this Agreement in a manner reasonably acceptable to the Investors, WAV or any Regulated Holder (as defined in the
Small Business Side Letters) entitled to make such request pursuant to the Small Business Side Letters in order to remedy a Regulatory Problem (as defined in the Small Business Side Letters). Anything contained in this Section 4.9 to the
contrary notwithstanding, no Investor shall be required under this Section 4.9 to take any action that would adversely affect in any material respect such Investor’s rights under this Agreement or as an Investor of the Company. 

4.10 Covenant Not to Amend. At the reasonable request of a Regulated Holder, the Company and each Investor agree not to vote in
favor of or take an action relating to the capital stock of the Company, or amend or waive the voting or other provisions of the Company’s Certificate of Incorporation, the Company’s Bylaws, this Agreement, or the other agreements
delivered in connection with the issuance and sale of the Securities of the Company, if such action, amendment or waiver would cause any Regulated Holder to have a Regulatory Problem. WAV and Roser both agree to notify the Company if it would have a
Regulatory Problem promptly after it has notice of such amendment or waiver. 
 4.11 Amendment and Restatement of Prior
Agreement. Pursuant to Section 4.7 of the Prior Agreement, the undersigned Prior Investors who in aggregate hold a majority of the outstanding Registrable Securities (as defined in the Prior Agreement and assuming conversion of the
outstanding Eligible Securities (as defined in the Prior Agreement)) hereby amend and restate the Prior Agreement. 
 4.12
Waiver of Right of First Offer. The undersigned Prior Investors who in aggregate hold a majority of the Registrable Securities (as defined in the Prior Agreement) held by the Series C1 Holders (as defined in the Prior Agreement) hereby waive
any rights of participation or notice they may have under Section 3 of the Prior Agreement with respect to the securities sold pursuant to the Purchase Agreement. 
 4.13 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be enforceable against the parties actually executing such counterparts, and all of which
together shall constitute one instrument. Facsimile signatures shall be as effective as original signatures. 
 4.14 Titles
and Subtitles. The titles of the paragraphs and subparagraphs of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. 

20 

 4.15 Trustee Limitation of Liability. 

(a) AMCF Limitation of Liability 
 (i) Notwithstanding any other provision contained in this Agreement, each of Fulcrum Capital Holdings Pty. Ltd. (A.C.N. 075 707 514) (“Trustee 2A”) as trustee of the Australasian
Media & Communications Fund-2A (“AMCF 2A”), Permanent Nominees (Australia) Limited (A.C.N. 008 412 913) (“Trustee 2B”) as trustee of the Australasian Media & Communications Fund-2B (“AMCF
2B”), and Fulcrum Capital Holdings Pty. Ltd. (A.C.N. 075 707 514) (“Trustee 2C”) as trustee of the Australasian Media & Communications Fund-2C (“AMCF 2C” and, together with Trustee 2A and 2B,
collectively, the “Trustees” and individually, a “Trustee” and, together with the AMCF 2A and 2B, collectively, the “AMCF Funds” and individually, an “AMCF Fund”), enters into this
Agreement only in its capacity as a trustee of the applicable AMCF Fund and in no other capacity. A liability arising under or in connection with this Agreement is limited to and can be enforced against each of the Trustees only to the extent to
which it can be satisfied out of property of the applicable AMCF Fund out of which such Trustee is actually indemnified for the liability. This limitation of each Trustee’s liability applies despite any other provision of this Agreement and
extends to all liabilities and obligations of such Trustee in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this Agreement. 

(ii) The parties other than the Trustees may not sue the Trustees in any capacity other than as trustee of the applicable AMCF Fund,
including seeking the appointment of a receiver (except in relation to property of the applicable AMCF Fund), a liquidator, an administrator or any similar person to the Trustees or prove in any liquidation, administration or arrangement of or
affecting the Trustees (except in relation to property of the applicable AMCF Fund). 
 (iii) The provisions of this
Section 4.15 shall not apply to any obligation or liability of each Trustee to the extent that it is not satisfied because under the trust deed establishing the applicable AMCF Fund or by operation of law there is a reduction in the extent of
such Trustee’s indemnification out of the assets of the applicable AMCF Fund, as a result of the Trustee’s fraud, negligence or breach of trust. 
 (iv) It is acknowledged that the manager of each AMCF Fund is responsible under the trust deed establishing such AMCF Fund for performing a variety of obligations relating to such AMCF Fund, including
under this Agreement. No act or omission of any Trustee (including any related failure to satisfy its obligations or breach of representation or warranty under this Agreement) will be considered fraud, negligence or breach of trust of such Trustee
for the purpose of Section 4.15(a)(iii) to the extent to which the act or omission was caused or contributed to by any failure by the manager or any other person to fulfill its obligations relating to the applicable AMCF Fund or by any other
act or omission of the manager or any other person. 
 (v) No attorney, agent, receiver or manager appointed in accordance with
this Agreement has authority to act on behalf of any Trustee in a way which exposes such 
 21 

 
Trustee to any personal liability and no act or omission of any such person will be considered fraud, negligence or breach of trust of such Trustee for purposes of Section 4.15(a)(iii).

 (vi) Each Trustee is not obligated to do or refrain from doing anything under this Agreement (including incur any liability)
unless such Trustee’s liability is limited in the same manner as set out in Section 4.15(a)(i)-(v). 
 (b) TVP
Limitation of Liability 
 (i) Notwithstanding any other provision contained in this Agreement, TVP No 3 Fund Nominees Pty
Ltd enters into this agreement only in its capacity as trustee of the TVP No. 3 Fund and in no other capacity. A liability arising under or in connection with this agreement is limited to and can be enforced against TVP No 3 Fund Nominees Pty
Ltd in its capacity as trustee of the TVP No. 3 Fund only to the extent to which it can be satisfied out of the property of the TVP No. 3 Fund out of which TVP No 3 Fund Nominees Pty Ltd is actually indemnified for the liability. This
limitation of TVP No 3 Fund Nominees Pty Ltd’s liability applies despite any other provision of this agreement and extends to all liabilities and obligations of TVP No 3 Fund Nominees Pty Ltd in any way connected with any representation,
warranty, conduct, omission, agreement or transaction related to this agreement. 
 (ii) The parties other than TVP No 3 Fund
Nominees Pty Ltd may not sue TVP No 3 Fund Nominees Pty Ltd in any capacity other than as trustee of the TVP No. 3 Fund, including seeking the appointment of a receiver (except in relation to property of the TVP No. 3 Fund), a liquidator,
an administrator, or any similar person to TVP No 3 Fund Nominees Pty Ltd or prove in any liquidation, administration or arrangement of or affecting TVP No 3 Fund Nominees Pty Ltd (except in relation to property of the TVP No. 3 Fund).

 (iii) The provisions of this Section 4.15(b) do not apply to any obligation or liability of TVP No 3 Fund Nominees Pty
Ltd to the extent that it is not satisfied because under the trust deed of the TVP No. 3 Fund or by operation of law there is a reduction in or limitation on the extent of TVP No 3 Fund Nominees Pty Ltd’s indemnification out of the assets
of the TVP No. 3 Fund, as a result of TVP No 3 Fund Nominees Pty Ltd’s fraud, negligence or breach of trust. 
 (iv)
It is acknowledged that the manager of TVP No. 3 Fund is responsible under the trust deed establishing such TVP No. 3 Fund for performing a variety of obligations relating to such TVP No. 3 Fund, including under this Agreement. No act
or omission of any Trustee (including any related failure to satisfy its obligations or breach of representation or warranty under this Agreement) will be considered fraud, negligence or breach of trust of such Trustee for the purpose of subsection
4.15(b)(iii) to the extent to which the act or omission was caused or contributed to by any failure by the manager or any other person to fulfill its obligations relating to the TVP No. 3 Fund or by any other act or omission of the manager or
any other person. 
 (v) No attorney, agent, receiver or manager appointed in accordance with this Agreement has authority to
act on behalf of any Trustee in a way which exposes such 
 22 

 
Trustee to any personal liability and no act or omission of any such person will be considered fraud, negligence or breach of trust of such Trustee for purposes of Subsection 4.15(b)(iii).

 (vi) Each Trustee is not obligated to do or refrain from doing anything under this Agreement (including incur any liability)
unless such Trustee’s liability is limited in the same manner as set out in Subsection 4.15(b)(i)-(v). 
 23 

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

			
	PEREGRINE SEMICONDUCTOR CORPORATION,
	
	a Delaware corporation
		
	By:	 	 /s/ Phil Chapman

		 	Phil Chapman, Chief Financial Officer
	
	 Peregrine Semiconductor Corporation
 9380 Carroll Park Drive
 San Diego, CA 92121

Fax: (858) 731-9499

 SIGNATURE PAGE TO SEVENTH AMENDED AND RESTATED INVESTOR RIGHTS 
 AGREEMENT
OF PEREGRINE SEMICONDUCTOR CORPORATION 
 24 

 EXHIBIT A 
 SCHEDULE OF PRIOR INVESTORS 
  

			
	 Wasserstein Adelson Ventures, L.P.
 Morgenthaler Partners VI, L.P.
 APA Excelsior IV, L.P.

Coutts & Co. (Cayman) Ltd.
 Patricof
Private Investment Club, L.P.
 Field Nominees (Cayman) Ltd., a Custodian for
 APA Excelsior IV/Offshore, L.P.
 CSK Finance Co., Ltd.

CSK Venture Capital Co., Ltd. as Investment

Manager for CSK-4 Investment Fund
 CSK Venture
Capital Co., Ltd. as Investment
 Manager for CSK-2 Investment Fund
 CSK Venture Capital Co., Ltd.
 Intel Corporation

Middlefield Ventures, Inc
 The Roser Partnership
III, SBIC, LP
 North America Venture Fund II, L.P.
 H&Q/GAI Incubation Fund, L.P.
 Needham Capital Partners II, L.P.

Needham Capital Partners II (Bermuda), L.P.

GC&H Investments, LLC
 LJH Corp.

Nance T. Cohen, TTEE Cohen & Associates MP
 RET PL U/A DTD 12/13/88
 Robert L. Groat, M.D.

Tim E. & Jerrilyn S. Herd
 Hinkle Living
Trust
 Chad W. Keck
 Henry P. Massey,
Jr. TTEE Massey Family Trust
 U/A DTD 7/06/88
 Douglas P. McLeod
 Carl D. Obenauf, M.D.
 John B. Patton
 Jeffrey L. Porterfield
 H. William & Linda A. Porterfield
 H. William Porterfield, M.D., Trustee

H. William Porterfield, M.D. Revocable

Declaration of Trust dated 9/26/03
 Linda A.
Porterfield, Trustee Linda A. Porterfield
 Revocable Declaration of Trust dated 9/26/03
 Stavro E. Prodromou
 Nicholas K. Powell
 George Rinker
 Nancy R. Rinker
	  	 Charles E. Stevens, Jr. Trust #1

John H. Watson
 WS Investment Company
99B
 WS Investment Company, LLC 2002A

WS Investment Company, LLC (2002C)
 WS Investment
Company, LLC (2002D)
 WS Investment Company 2004A
 WS Investment Company LLC (2004C)
 WS Investment Company LLC (2004D)

WS Investment Company LLC (2005D)
 William
Peavey
 Newlight Associates II, L.P.

Newlight Associates II (BVI), L.P.
 Newlight
Associates II-E, L.P.
 Dr. James S. Cable
 Eugene Lyons
 Scott and Lynn Stiers
 TVP No 3 Fund Nominees Pty Limited
 Australasian Media & Communications Fund

2-A
 Australasian Media & Communications
Fund
 2-B
 James and Susan Ogle Trust
Dated 12/14/82
 Ron and Robin Reedy Living Trust DTD
 8/7/95
 Thomas Weisel Partners
 Oki Electric Industry Co., Ltd.
 Philip Chapman & Donna Chapman,

JTWROS
 Chad W. Keck and Barbara Keck

Bank of Hawaii TTEE S&Y 4k PS s/d L.
 William
Huck
 Billy Bob Thomason
 Stephen W.
Carr
 Dorothy A. Cable
 Edwin B.
Monroe & Carol S. Monroe, JTTEN
 Ridgewood Peregrine LLC
 Palisades Ventures, L.P.
 Palisades Qualified Investors, L.P.

Palisades Non-Qualified Investors, L.P.
 Gari L.
Cheever
 Jeffrey P. Higgins
 Murata
Manufacturing Company Limited

 EXHIBIT B 
 SCHEDULE OF NEW INVESTORS 
  

			
	 Closing: August 17, 2006
 DB Capital, Inc.
 G&H Partners, Inc
 Australasian Media & Communications Fund 2-C
 CSK Principals Co., Ltd.

Needham Asset Management
 WAV, L.P.

 
 Closing: April 19, 2007

SBA, Receiver for WAV, L.P.
 Stark SOS Technology
Ltd
 UBS AG London Branch
 Montgomery
Peregrine Semiconductor Partnership
  
 Closing: April 25,
2007
 Ridgewood Peregrine II LLC
 Shea Ventures, LLC
 Diamond Hill Investments

Technology Voyage IV, LLC
 Advanced Equities
Peregrine Investments II, LLC
  
 Closing: April 30,
2007
 AEI 2007 Venture Investments I, LLC
 Northport Investments, LLC
 Vestal Venture Capital

Camofi Master, LDC
 Prandeep Sindhu

 
 Closing: May 2, 2007

Peregrine Co-Investment Trust
 CSK-VC
Sustainability Investment Fund
  
 Closing: August 22,
2008
 Advanced Equities Peregrine Investments III, LLC
 Advanced Equities Peregrine Investments IV, LLC
	  	 Closing: August 29, 2008
 RPLLC
 Brian Elliot Peierls
 UD Ethel F. Peierls Charitable Lead Trust
 UD J.N. Peierls for E.J. Peierls dtd 1.14.53

UD J.N. Peierls for B.E. Peierls dtd 1.14.53
 UD
E.S. Peierls for E.F. Peierls et al
 UD E.F. Peierls for E. Jeffrey Peierls
 UD E.F. Peierls for Brian E. Peierls
 E. Jeffrey Peierls

The Peierls Foundation, Inc.
 UW J.N. Peierls for
Brian E. Peierls
 UW J.N. Peierls for E. Jeffrey Peierls
 UW E. Peierls for E. Jeffrey Peierls Accumulation
 UW E. Peierls for Brian E. Peierls
Accumulation
 Erasmus Louisiana Growth Fund II, LP
 Hatteras Late Stage VC Fund I, LP
 Advanced Equities Peregrine Investments III, LLC

 
 Closing: September 5, 2008

No new parties
  
 Closing: September 30, 2008
 No new parties

 
 Closing: October 31, 2008

No new parties
  
 Closing: November 25, 2008
 Rubicon Technology,
Inc.

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