Document:

EX-10.5

 Exhibit 10.5 

CARDIVA MEDICAL, INC. 

2014 EQUITY INCENTIVE PLAN 

STOCK OPTION GRANT NOTICE AND 

STOCK OPTION AGREEMENT 

Cardiva Medical, Inc. (the “Company”), pursuant to its 2014 Equity Incentive Plan (the “Plan”),
hereby grants to the participant set forth below (“Participant”), an Option to purchase the number of shares of the Company’s Common Stock (referred to herein as “Shares”) set forth below. This
Option is subject to all of the terms and conditions as set forth herein and in the Stock Option Agreement attached hereto as Exhibit A (the “Stock Option Agreement”) and the Plan, each of which is incorporated herein
by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Stock Option Grant Notice and the Stock Option Agreement. 

 

					
	Participant:	  	«Optionee»
		
	Grant Date:	  	«Date_of_Grant»
		
	Vesting Commencement Date:	  	«Vesting_Commencement_Date»
		
	Exercise Price per Share:	  	$«Exercise_Price_per_Share»
		
	Total Exercise Price:	  	$«Total_Exercise_Price»
		
	 Total Number of Shares
 Subject to
Option:
	  	«Total_Shares»
		
	Expiration Date:	  	«Expiration_Date»
			
	Type of Option:	  	☐ Incentive Stock Option	  	☐ Non-Qualified Stock Option
		
	Vesting Schedule:	  	Twenty-five percent (25%) of the Shares subject to the Option (rounded down to the next whole number of shares) shall vest on the first anniversary of the Vesting Commencement Date and 1/48th of the Shares subject to the
Option shall vest on each monthly anniversary of the Vesting Commencement Date thereafter so that one hundred percent (100%) of the Shares subject to the Option are vested on the fourth anniversary of the Vesting Commencement Date, subject to
Optionee remaining a Service Provider through each such vesting date (unless otherwise determined by the Administrator, in its sole discretion).

 By his or her signature and the Company’s signature below, Participant agrees to be bound by the terms
and conditions of the Plan, the Stock Option Agreement and this Grant Notice. Participant has reviewed the Stock Option Agreement, the Plan and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to
executing this Grant Notice and fully understands all provisions of this Grant Notice, the Stock Option Agreement and the Plan. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the
Administrator of the Plan upon any questions arising under the Plan or the Option. 
  

									
	CARDIVA MEDICAL, INC.:	  	            	  	PARTICIPANT:
					
	By:	  	  
	  		  	By:	  	
                     
                                

		  	Lisa A. Garrett	  		  	Name: «Optionee»
		  	Chief Financial Officer	  		  	
				
		  		  		  	Home Email:
                                         
                                         
        

 EXHIBIT A 

TO STOCK OPTION GRANT NOTICE 

STOCK OPTION AGREEMENT 

Pursuant to the Stock Option Grant Notice (“Grant Notice”) to which this Stock Option Agreement (this
“Agreement”) is attached, CARDIVA MEDICAL, INC. (the “Company”) has granted to Participant an Option under the Company’s 2014 Equity Incentive Plan (the “Plan”) to purchase
the number of Shares indicated in the Grant Notice. 
 ARTICLE I 

GENERAL 
 1.1 Defined
Terms. Capitalized terms not specifically defined herein shall have the meanings specified in the Plan and the Grant Notice. 
 1.2
Incorporation of Terms of Plan. The Option is subject to the terms and conditions of the Plan which are incorporated herein by reference. In the event of a conflict between the terms of the Agreement and the Plan, the terms of the Plan shall
control. 
 1.3 Grant of Option. In consideration of Participant’s past and/or continued employment with or service to the
Company or a parent or subsidiary and for other good and valuable consideration, effective as of the grant date set forth in the Grant Notice (the “Grant Date”), the Company irrevocably grants to Participant an Option to
purchase any part or all of an aggregate of the number of Shares set forth in the Grant Notice, upon the terms and conditions set forth in the Plan and this Agreement. Unless designated as a Non-Qualified
Stock Option in the Grant Notice, the Option shall be an Incentive Stock Option to the maximum extent permitted by law. 
 ARTICLE II

 PERIOD OF EXERCISABILITY 

2.1 Vesting; Commencement of Exercisability. 

(a) Subject to Sections 2.1(b) and 2.3, the Option shall become vested and exercisable in such amounts and at such times as are set forth in
the vesting schedule in the Grant Notice (the “Vesting Schedule”). 
 (b) Unless otherwise determined by the
Administrator, any portion of the Option that has not become vested and exercisable on or prior to the date of the Participant’s Termination of Service shall be forfeited on the date of the Participant’s Termination of Service and shall
not thereafter become vested or exercisable. 
 2.2 Duration of Exercisability. The installments provided for in the Vesting Schedule
are cumulative. Each such installment which becomes vested and exercisable pursuant to the Vesting Schedule shall remain vested and exercisable until it becomes unexercisable under Section 2.3 or pursuant to the terms of the Plan. Once the
Option becomes unexercisable, it shall be forfeited immediately. 
 2.3 Expiration of Option. The Option may not be exercised to any
extent by anyone after the first to occur of the following events: 
 (a) The Expiration Date set forth in the Grant Notice; 

(b) The expiration of three months following the date of Participant’s Termination of Service, unless such Termination of Service occurs
by reason of Participant’s death, Disability or Cause; 

  
 A-1. 

 (c) The expiration of one year following the date of Participant’s Termination of
Service by reason of Participant’s death or Disability; or 
 (d) The date of Participant’s Termination of Service for Cause. 

Participant acknowledges that an Incentive Stock Option exercised more than three months after Participant’s termination of status as an
Employee, other than by reason of death or Disability, will be taxed as a Non-Qualified Stock Option. 

2.4 Special Tax Consequences. Participant acknowledges that, to the extent that the aggregate Fair Market Value (determined as of the
time the Option is granted) of all Shares with respect to which Incentive Stock Options, including the Option, are first exercisable for the first time by Participant in any calendar year exceeds $100,000 (or such other limitation as imposed by
Section 422(d) of the Code), the Option and such other options shall be treated as not qualifying under Section 422 of the Code but rather shall be considered Non-Qualified Stock Options. Participant
further acknowledges that the rule set forth in the preceding sentence shall be applied by taking Options and other “incentive stock options” into account in the order in which they were granted. 

ARTICLE III 
 EXERCISE
OF OPTION 
 3.1 Person Eligible to Exercise. Except as provided in Sections 4.2(b) and 4.2(c), during the lifetime of
Participant, only Participant may exercise the Option or any portion thereof. After the death of Participant, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 2.3, be exercised by
Participant’s personal representative or by any person empowered to do so under the deceased Participant’s will or under the then applicable laws of descent and distribution. 

3.2 Partial Exercise. Any exercisable portion of the Option or the entire Option, if then wholly exercisable, may be exercised in whole
or in part at any time prior to the time when the Option or portion thereof becomes unexercisable under Section 2.3. 
 3.3 Manner of
Exercise. The Option, or any exercisable portion thereof, may be exercised solely by delivery to the Secretary of the Company or the Secretary’s office, or such other place as may be determined by the Administrator, of all of the following
prior to the time when the Option or such portion thereof becomes unexercisable under Section 2.3: 
 (a) An exercise notice in
substantially in the form attached as Exhibit B to the Grant Notice (or such other form as is prescribed by the Administrator) (the “Exercise Notice”) in writing signed by Participant or any other person then entitled
to exercise the Option or portion thereof, stating that the Option or portion thereof is thereby exercised, such notice complying with all applicable rules established by the Administrator; and 

(b) Subject to Section 5(f) of the Plan: 

(i) Full payment (in cash or by check) for the Shares with respect to which the Option or portion thereof is exercised; or 

(ii) With the consent of the Administrator, by delivery of Shares then issuable upon exercise of the Option having a Fair Market Value on the
date of delivery equal to the aggregate exercise price of the Option or exercised portion thereof; or 
 (iii) On and after the date the
Company becomes a Publicly Listed Company, through the (A) delivery by Participant to the Company of an irrevocable and unconditional undertaking by a broker acceptable to the Company to deliver promptly to the Company sufficient funds to pay
the exercise price or (B) delivery by Participant to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company cash or a check sufficient to pay the exercise
price; provided that payment is then made to the Company at such time as may be required by the Administrator; or 

  
 A-2. 

 (iv) With the consent of the Administrator, any other method of payment permitted under the
terms of the Plan; or 
 (v) Subject to any applicable laws, any combination of the consideration allowed under the foregoing paragraphs;
and 
 (c) The receipt by the Company of full payment for any applicable withholding tax in cash or by check or in the form of consideration
permitted by the Administrator, which, following the date the Company becomes a Publicly Listed Company shall include the method provided for in Section 5(f)(i) of the Plan; and 

(d) In the event the Option or portion thereof shall be exercised pursuant to Section by any person or persons other than Participant,
appropriate proof of the right of such person or persons to exercise the Option. 
 ARTICLE IV 

OTHER PROVISIONS 
 4.1
Restrictive Legends and Stop-Transfer Orders. 
 (a) Participant agrees that, in order to ensure compliance with the restrictions
referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own
records. 
 (b) The Company shall not be required: (i) to transfer on its books any Shares that have been sold or otherwise transferred
in violation of any of the provisions of this Agreement, or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such shares shall have been so transferred. 

4.2 Notices. Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company at its principal
executive offices in care of the Secretary of the Company, and any notice to be given to Participant shall be addressed to Participant at the most recent address for Participant shown in the Company’s records. By a notice given pursuant to this
Section 4.2, either party may hereafter designate a different address for notices to be given to that party. Any notice which is required to be given to Participant shall, if Participant is then deceased, be given to the person entitled to
exercise his or her Option by written notice under this Section 4.2. Any notice shall be deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or
branch post office regularly maintained by the United States Postal Service. 
 4.3 Titles. Titles are provided herein for convenience
only and are not to serve as a basis for interpretation or construction of this Agreement. 
 4.4 Governing Law; Severability. This
Agreement and the Exercise Notice shall be administered, interpreted and enforced under the laws of the State of California, without regard to the conflicts of law principles thereof. Should any provision of this Agreement be determined by a court
of law to be illegal or unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable. 
 4.5
Conformity to Securities Laws. Participant acknowledges that the Plan is intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated by the
Securities and Exchange Commission thereunder, and state securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the Option is granted and may be exercised, only in such a manner as to
conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. 

  
 A-3. 

 4.6 Successors and Assigns. The Company may assign any of its rights under this
Agreement and the Exercise Notice to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Agreement shall be binding
upon Participant and his or her heirs, executors, administrators, successors and assigns. 
 4.7 Entire Agreement. The Plan and this
Agreement (including all Exhibits hereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof. 

* * * * * 

  
 A-4. 

 EXHIBIT B 

TO STOCK OPTION GRANT NOTICE 

FORM OF EXERCISE NOTICE 

Effective as of today, _____________, ______________, the undersigned (“Participant”) hereby elects to
exercise Participant’s option to purchase _________________________ Shares of CARDIVA MEDICAL, INC. (the “Company”) under and pursuant to the CARDIVA MEDICAL, INC. 2014 Equity Incentive Plan (the
“Plan”) and the Stock Option Grant Notice and Stock Option Agreement dated «Date_of_Stock_Option_Agreement» (the “Option Agreement”). Capitalized terms used herein without definition shall
have the meanings given in the Option Agreement. 
  

					
		
	Grant Date:	  	                                    
                                         
                               
		
	Number of Shares as to which Option is Exercised:	  	                                    
                                         
                               
			
	Exercise Price per Share:	  	 $
	  	
			
	Total Exercise Price:	  	 $
	  	
			
	Cash Payment delivered herewith:	  	 $
	  	(Representing the full Exercise
		  	Price for the Shares, as well as any applicable withholding tax)
			
	Type of Option:	  	☐ Incentive Stock Option	  	☐ Non-Qualified Stock Option

 1. Representations of Participant. Participant acknowledges that Participant has received, read and
understood the Plan and the Option Agreement. Participant agrees to abide by and be bound by their terms and conditions. 
 2. Tax
Consultation. Participant understands that Participant may suffer adverse tax consequences as a result of Participant’s purchase or disposition of the Shares. Participant represents that Participant has consulted with any tax consultants
Participant deems advisable in connection with the purchase or disposition of the Shares and that Participant is not relying on the Company for any tax advice. Participant is relying solely on such advisors and not on any statements or
representations of the Company or any of its agents. Participant understands that Participant (and not the Company) shall be responsible for Participant’s tax liability that may arise as a result of this investment or the transactions
contemplated by this Agreement. 
 3. Restrictive Legends and Stop-Transfer Orders. 

(a) Legends. Participant understands and agrees that the Company shall cause any certificates issued evidencing the Shares to have the
legends set forth below or legends substantially equivalent thereto, together with any other legends that may be required by state or federal securities laws: 

THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“ACT”), NOR HAVE THEY BEEN
REGISTERED OR QUALIFIED UNDER THE SECURITIES LAWS OF ANY STATE. NO TRANSFER OF SUCH SECURITIES WILL BE PERMITTED UNLESS A REGISTRATION STATEMENT UNDER THE ACT IS IN EFFECT AS TO SUCH TRANSFER, THE TRANSFER IS MADE IN ACCORDANCE WITH RULE 144 UNDER

  
 B-1. 

 
THE ACT, OR IN THE OPINION OF COUNSEL (WHICH MAY BE COUNSEL FOR THE COMPANY) REGISTRATION UNDER THE ACT IS UNNECESSARY IN ORDER FOR SUCH TRANSFER TO COMPLY WITH THE ACT AND WITH APPLICABLE STATE
SECURITIES LAWS. 
 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. SUCH TRANSFER RESTRICTIONS ARE BINDING ON TRANSFEREES OF THESE SHARES. 

(b) Participant agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate
“stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records. 

(c) The Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of
any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred. 

4. Notices. Any notice required or permitted hereunder shall be given in accordance with the provisions set forth in Section 4.2 of
the Option Agreement. 
 5. Further Instruments. Participant hereby agrees to execute such further instruments and to take such
further action as the Company determines are reasonably necessary to carry out the purposes and intent of this Agreement. 
 6. Entire
Agreement. The Plan and Option Agreement are incorporated herein by reference. This Agreement, the Plan and the Option Agreement constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements
of the Company and Participant with respect to the subject matter hereof. 
  

									
	 ACCEPTED BY:
 CARDIVA
MEDICAL, INC.:
	  		  	SUBMITTED BY
PARTICIPANT:
					
	By:	  	  
	  		  	By:	  	                                      
                                         
                                   
		  	Lisa A. Garrett	  		  	Print Name: «Optionee»
		  	Chief Financial Officer	  		  	
				
		  		  		  	Address:                                   
                                         
                                
		  		  		  	                                    
                                         
                                         
    
				
		  		  		  	Home
Email:                                       
                                         
                    

  
 B-2. 

 CARDIVA MEDICAL, INC. 

2014 EQUITY INCENTIVE PLAN 

EXERCISE NOTICE 

Effective as of today,
                ,
                , the undersigned (“Participant”) hereby elects to exercise Participant’s option
to purchase _________________ Shares of CARDIVA MEDICAL, INC. (the “Company”) under and pursuant to the CARDIVA MEDICAL, INC. 2014 Equity Incentive Plan (the “Plan”) and the
Stock Option Grant Notice and Stock Option Agreement dated _____________________ (the “Option Agreement”). Capitalized terms used herein without definition shall have the meanings given in the Option Agreement.

  

					
	Grant Date:	  	
                          
                                         
                                 

		
	Number of Shares as to which Option is Exercised:	  	
                          
                                         
                                 

			
	Exercise Price per Share:	  	$                                      
          	  	
			
	Total Exercise Price:	  	$                                      
          	  	
			
	Cash Payment delivered herewith:	  	$______________ (Representing the full Exercise Price for the Shares, as well as any applicable withholding tax)	  	

 Type of Option:     ☐    Incentive Stock Option                ☐    Non-Qualified Stock Option 

1. Representations of Participant. Participant acknowledges that Participant has received, read and understood the Plan and the Option
Agreement. Participant agrees to abide by and be bound by their terms and conditions. 
 2. Tax Consultation. Participant understands
that Participant may suffer adverse tax consequences as a result of Participant’s purchase or disposition of the Shares. Participant represents that Participant has consulted with any tax consultants Participant deems advisable in connection
with the purchase or disposition of the Shares and that Participant is not relying on the Company for any tax advice. Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents.
Participant understands that Participant (and not the Company) shall be responsible for Participant’s tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. 

3. Restrictive Legends and Stop-Transfer Orders. 

(a) Legends. Participant understands and agrees that the Company shall cause any certificates issued evidencing the Shares to have the
legends set forth below or legends substantially equivalent thereto, together with any other legends that may be required by state or federal securities laws: 

THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“ACT”), NOR HAVE THEY BEEN
REGISTERED OR QUALIFIED UNDER THE SECURITIES LAWS OF ANY STATE. NO TRANSFER OF SUCH SECURITIES WILL BE PERMITTED UNLESS A REGISTRATION STATEMENT UNDER THE ACT IS IN EFFECT 

  
 B-3. 

 
AS TO SUCH TRANSFER, THE TRANSFER IS MADE IN ACCORDANCE WITH RULE 144 UNDER THE ACT, OR IN THE OPINION OF COUNSEL (WHICH MAY BE COUNSEL FOR THE COMPANY) REGISTRATION UNDER THE ACT IS UNNECESSARY
IN ORDER FOR SUCH TRANSFER TO COMPLY WITH THE ACT AND WITH APPLICABLE STATE SECURITIES LAWS. 
 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. SUCH TRANSFER RESTRICTIONS ARE BINDING ON TRANSFEREES OF THESE SHARES. 

(b) Participant agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate
“stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records. 

(c) The Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of
any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred. 

4. Notices. Any notice required or permitted hereunder shall be given in accordance with the provisions set forth in Section 4.2 of
the Option Agreement. 
 5. Further Instruments. Participant hereby agrees to execute such further instruments and to take such
further action as the Company determines are reasonably necessary to carry out the purposes and intent of this Agreement. 
 6. Entire
Agreement. The Plan and Option Agreement are incorporated herein by reference. This Agreement, the Plan and the Option Agreement constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements
of the Company and Participant with respect to the subject matter hereof. 
  

									
	 ACCEPTED BY:
 CARDIVA
MEDICAL, INC.
	  		  	 SUBMITTED BY

PARTICIPANT:

					
	By:	  	  
	  		  	By:	  	                                      
                                         
                 
		  	Lisa A. Garrett	  		  	Print
Name:                                        
                                         
   
		  	Chief Financial Officer	  		  		  	
				
		  		  		  	Address:                                   
                                         
              
		  		  		  		  	
                      
                                         
                             

				
		  		  		  	Email:                                   
                                         
                  

  
 B-4.EX-10.11

 Exhibit 10.11 

THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE
SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT
REQUIRED. 
 Void after 

February 26, 2024 
 WARRANT
TO PURCHASE 
 COMMON STOCK 

THIS WARRANT (this “Warrant”) certifies that, for value received, [WARRANT
HOLDER], together with its successors and permitted transferees and assigns (the “Holder”), is entitled, upon surrender of this Warrant at the principal office of the Company (or at such other place as the Company
shall notify the holder hereof in writing), to purchase from Cardiva Medical, Inc., a Delaware corporation (the “Company”), up to [____] shares (the “Shares”) (as may adjusted from time to time in accordance with
Section 6 herein) of the Company’s Common Stock, par value $0.001 per share (the “Common Stock”). 
 1.
Definitions. 
 (a) Exercise Price. The exercise price per Share shall be equal to the fair market value of one share of Common
Stock on the date of issuance of this Warrant (the “Issuance Date”) as determined in good faith by the Board of Directors of the Company (the “Board”) following the Board’s review of an independent appraisal to
be received no later than two months following the Issuance Date (as adjusted from time to time after the Issuance Date in accordance with Section 6 herein, the “Exercise Price”), and the Company shall notify holder in writing
of the Exercise Price within 10 days of the acceptance by the Board of such appraisal. In the event that this Warrant is delivered before the Board has determined the Exercise Price, then upon such determination, the Company will deliver to the
Holder a page including the Exercise Price to replace the first page of this Warrant. 
 (b) Exercise Period. This Warrant shall be
exercisable, in whole or in part, during the term commencing on the date hereof and ending on the expiration of this Warrant pursuant to Section 13 hereof. 

2. Method of Exercise. While this Warrant remains outstanding and exercisable in accordance with Section 1(b) above, the holder may
exercise in whole or in part the purchase rights evidenced hereby. Such exercise shall be effected by: 
 (i) the surrender of the Warrant,
together with a notice of exercise to the Secretary of the Company at its principal offices; and 
 (ii) the payment to the Company of an
amount equal to the aggregate Exercise Price for the number of Shares being purchased. 
 3. Net Exercise. In lieu of cash exercising
this Warrant, the Holder of this Warrant may elect to receive shares equal to the value of this Warrant (or the portion thereof being canceled) by surrender of this Warrant at the principal office of the Company together with notice of such
election, in which event the Company shall issue to the Holder hereof a number of Shares computed using the following formula: 

							
		 	 X =
  
	 	       Y (A -
B)      
 A
	  	
	  	

 Where 
  

			
	X —	  	The number of Shares to be issued to the holder of this Warrant.
		
	Y —	  	The number of Shares purchasable under this Warrant.
		
	A —	  	The fair market value of one Share.
		
	B —	  	The Exercise Price (as adjusted to the date of such calculations).

 For purposes of this Section 3, the fair market value of a Share shall mean the average of the
closing bid and asked prices of Shares quoted in the over-the-counter market in which the Shares are traded or the closing price quoted on any exchange on which the
Shares are listed, whichever is applicable, as published in the Western Edition of The Wall Street Journal for the ten (10) trading days prior to the date of determination of fair market value (or such shorter period of time during which such
stock was traded over-the-counter or on such exchange). If the Shares are not traded on the
over-the-counter market or on an exchange, the fair market value shall be the price per Share that the Company could obtain from a willing buyer for Shares sold by the
Company from authorized but unissued Shares, as such prices shall be determined in good faith by the Board. 
 4. Certificates for
Shares. Upon the exercise of the purchase rights evidenced by this Warrant, one or more certificates for the number of Shares so purchased shall be issued as soon as practicable thereafter, and in any event within thirty (30) days of the
delivery of the subscription notice. 
 5. Issuance of Shares. The Company covenants that the Shares, when issued pursuant to the
exercise of this Warrant, will be duly and validly issued, fully paid and nonassessable and free from all taxes, liens, and charges with respect to the issuance thereof. 

6. Adjustment of Exercise Price and Number of Shares. The number of and kind of securities purchasable upon exercise of this Warrant and
the Exercise Price shall be subject to adjustment from time to time as follows: 
 (a) Subdivisions, Combinations and Other Issuances.
If the Company shall at any time prior to the expiration of this Warrant subdivide the Shares, by split-up or otherwise, or combine its Shares, or issue additional shares of its Shares as a dividend, the
number of Shares issuable on the exercise of this Warrant shall forthwith be proportionately increased in the case of a subdivision or stock dividend, or proportionately decreased in the case of a combination. Appropriate adjustments shall also be
made to the purchase price payable per share, but the aggregate purchase price payable for the total number of Shares purchasable under this Warrant (as adjusted) shall remain the same. Any adjustment under this Section 6(a) shall become
effective at the close of business on the date the subdivision or combination becomes effective, or as of the record date of such dividend, or in the event that no record date is fixed, upon the making of such dividend. 

(b) Reclassification, Reorganization and Consolidation. In case of any reclassification, capital reorganization, or change in the
capital stock of the Company (other than as a result of a subdivision, combination, or stock dividend provided for in Section 6(a) above), then the Company shall make appropriate provision so that the holder of this Warrant shall have the right
at any time prior to the expiration of this Warrant to purchase, at a total price equal to that payable upon the exercise of this Warrant, the kind and amount of shares of stock and other securities and property receivable in connection with such
reclassification, reorganization, or change by a holder of the same number of Shares as were purchasable by the holder of this Warrant immediately prior to such reclassification, reorganization, or change. In any such case appropriate provisions
shall be made with respect to the rights and interest of the holder of this Warrant so that the provisions hereof shall thereafter be applicable with respect to any shares of stock or other securities and property deliverable upon exercise hereof,
and appropriate adjustments shall be made to the purchase price per share payable hereunder, provided the aggregate purchase price shall remain the same. 

  
 2. 

 (c) Notice of Adjustment. When any adjustment is required to be made in the number or
kind of shares purchasable upon exercise of the Warrant, or in the Exercise Price, the Company shall promptly notify the holder of such event and of the number of Shares or other securities or property thereafter purchasable upon exercise of this
Warrant. 
 7. No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the
exercise of this Warrant, but in lieu of such fractional shares the Company shall make a cash payment therefor on the basis of the Exercise Price then in effect. 

8. Representations of the Company. The Company represents that all corporate actions on the part of the Company, its officers, directors
and stockholders necessary for the sale and issuance of this Warrant have been taken. 
 9. Representations and Warranties by the
Holder. The Holder represents and warrants to the Company as follows: 
 (a) This Warrant and the Shares issuable upon exercise thereof
are being acquired for the Holder’s own account, for investment and not with a view to, or for resale in connection with, any distribution or public offering thereof within the meaning of the Securities Act of 1933, as amended (the
“Act”). Upon exercise of this Warrant, the Holder shall, if so requested by the Company, confirm in writing, in a form satisfactory to the Company, that the securities issuable upon exercise of this Warrant are being acquired for
investment and not with a view toward distribution or resale. 
 (b) The Holder understands that the Warrant and the Shares have not been
registered under the Act by reason of their issuance in a transaction exempt from the registration and prospectus delivery requirements of the Act pursuant to Section 4(2) thereof, and that they must be held by the Holder indefinitely, and that
the Holder must therefore bear the economic risk of such investment indefinitely, unless a subsequent disposition thereof is registered under the Act or is exempted from such registration. The Holder further understands that the Warrant Shares have
not been qualified under the California Securities Law of 1968 (the “California Law”) by reason of their issuance in a transaction exempt from the qualification requirements of the California Law pursuant to Section 25102(f)
thereof, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent expressed above. 

(c) The Holder has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of the
purchase of this Warrant and the Shares purchasable pursuant to the terms of this Warrant and of protecting its interests in connection therewith. The Holder is able to bear the economic risk of the purchase of the Shares pursuant to the terms of
this Warrant. 
 (d) The Holder acknowledges that the Company has given the Holder access to the corporate records and accounts of the
Company and to all information in its possession relating to the Company, has made its officers and representatives available for interview by the Holder, and has furnished the Holder with all documents and other information required for the Holder
to make an informed decision with respect to the purchase of the Warrant. 
 (e) The Holder is an “accredited investor” as such
term is defined in Rule 501 of Regulation D promulgated under the Act. 
 10. Restrictive Legend. 

The Shares (unless registered under the Act) shall be stamped or imprinted with a legend in substantially the following form: 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER
THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS PURSUANT TO REGISTRATION OR AN EXEMPTION
THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 

  
 3. 

 The Shares also shall be stamped or imprinted with the following additional legends: 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO (1) RESTRICTIONS ON TRANSFERABILITY AND RESALE, INCLUDING A LOCK-UP PERIOD IN THE EVENT OF A PUBLIC OFFERING, AS SET FORTH IN AN INVESTORS’ RIGHTS AGREEMENT, AND (2) VOTING RESTRICTIONS AS SET FORTH IN A VOTING AGREEMENT AMONG THE COMPANY AND THE ORIGINAL HOLDERS
OF THESE SHARES, COPIES OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE COMPANY. 
 Any legend required by any applicable state
securities laws or other agreements relating to the Shares. 
 11. Warrants Transferable. 

(a) Subject to compliance with the terms and conditions of this Section 11, this Warrant and all rights hereunder are transferable, in
whole, without charge to the holder hereof (except for transfer taxes), upon surrender of this Warrant, properly endorsed and accompanied by written instructions of transfer and an agreement in writing by transferee to be bound by the obligations
set forth herein. 
 (b) With respect to any offer, sale or other disposition of this Warrant prior to registration of such Warrant, the
holder hereof agrees to give written notice to the Company prior thereto, describing briefly the manner thereof, together with a written opinion of such holder’s counsel, or other evidence, if reasonably requested by the Company, to the effect
that such offer, sale or other disposition may be effected without registration or qualification (under the Act as then in effect or any federal or state securities law then in effect) of this Warrant and indicating whether or not under the Act
certificates for this Warrant to be sold or otherwise disposed of require any restrictive legend as to applicable restrictions on transferability in order to ensure compliance with such law. Upon receiving such written notice and reasonably
satisfactory opinion or other evidence, if so requested, the Company, as promptly as practicable, shall notify such holder that such holder may sell or otherwise dispose of this Warrant, all in accordance with the terms of the notice delivered to
the Company. If a determination has been made pursuant to this Section 11 that the opinion of counsel for the holder or other evidence is not reasonably satisfactory to the Company, the Company shall so notify the holder promptly with details
thereof after such determination has been made. Each certificate representing this Warrant transferred in accordance with this Section 11 shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance
with such laws, unless in the aforesaid opinion of counsel for the holder, such legend is not required in order to ensure compliance with such laws. The Company may issue stop transfer instructions to its transfer agent in connection with such
restrictions. 
 (c) Permitted transfers include (i) a transfer not involving a change in beneficial ownership, or (ii) in
transactions involving the distribution of securities to (x) a parent, subsidiary or other affiliate of the Holder that is a corporation, or (y) any of its partners, members or other equity owners, or retired partners, retired members or
other equity owners, or to the estate of any of its partners, members or other equity owners or retired partners, retired members or other equity owners, (iii) transfers without consideration in connection with a liquidation, dissolution or
winding up of the Holder, or (iv) transfers in compliance with Rule 144, as long as the Company is furnished with satisfactory evidence of compliance with such Rule; provided, in each case, that the Holder shall give written notice to the
Company of Holder’s intention to effect such disposition and shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition. 

12. Rights of Stockholders. No holder of this Warrant shall be entitled, as a Warrant holder, to vote or receive dividends or be deemed
the holder of the Shares or any other securities of the Company which may at any time be issuable on the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon the holder of this Warrant, as such, any of the
rights of a stockholder of the Company or any right to vote for the 

  
 4. 

 
election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance of
stock, reclassification of stock, change of par value, consolidation, merger, conveyance, or otherwise) or to receive notice of meetings, or to receive dividends or subscription rights or otherwise until the Warrant shall have been exercised and the
Shares purchasable upon the exercise hereof shall have become deliverable, as provided herein. 
 13. Expiration of Warrant; Notice of
Certain Events Terminating This Warrant. 
 (a) This Warrant shall expire and shall no longer be exercisable upon the earlier to occur
of: 
 (i) 5:00 p.m., California local time, on February 26, 2024; 

(ii) or a Liquidation (as defined in the Company’s Amended and Restated Certificate of Incorporation, as may be amended from time to
time). 
 The Company shall provide at least ten (10) days’ prior written notice of a Liquidation. 

14. Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered
or certified mail, postage prepaid, sent by facsimile or electronic mail or otherwise delivered by hand or by messenger addressed, if to the Holder, at the Holder’s address, facsimile number or electronic mail address as shown in the
Company’s records, and if to the Company, one copy should be sent to 888 W. Maude Ave., Sunnyvale, CA 94085, facsimile number: 650-964-8911, Attn: Chief Executive
Officer, or at such other address as the Company shall have furnished to the Holder, with a copy to Michael W. Hall, Latham & Watkins LLP, 140 Scott Drive, Menlo Park, California 94025, facsimile number: (650)
462-2600. Each such notice or other communication shall for all purposes of this Warrant be treated as effective or having been given when delivered if delivered personally, or, if sent by mail, at the earlier
of its receipt or seventy-two (72) hours after the same has been deposited in a regularly maintained receptacle for the deposit of the United States mail, addressed and mailed as aforesaid or, if sent by
facsimile, upon confirmation of facsimile transfer or, if sent by electronic mail, upon confirmation of delivery. 
 15. “Market Stand-Off’ Agreement. Holder agrees that the Shares shall be subject to the Market Stand-Off provisions in Section 2.10 of the Company’s Sixth Amended and
Restated Investors Rights Agreement, as amended from time to time. 
 16. Severability. If any provision of this Warrant shall be
judicially determined to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

17. Entire Agreement. This Warrant constitutes and contains the entire agreement among the Company and the Holder and supersede any and
all prior or contemporaneous agreements, negotiations, correspondence, understandings and communications among the parties, whether written or oral, respecting the subject matter hereof. 

18. Waivers and Amendments. Any provision of this Warrant may be amended, waived or modified only upon the written consent of the
Company and the Holder. 
 19. Governing Law. This Warrant and all actions arising out of or in connection with this Agreement shall
be governed by and construed in accordance with the laws of the State of California, without regard to the conflicts of law provisions of the State of California or of any other state. Any and all disputes arising out of or related to this Warrant
shall be adjudicated exclusively in the state or federal courts located in Santa Clara County, California. 
 20. Successors and Assigns;
Rights and Obligations Survive Exercise of Warrant. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of and be binding upon, the successors and assigns of the parties hereto. Unless otherwise
provided herein, the rights and obligations of the Company, of the holder of this Warrant and of the holder of the Shares issued upon exercise of this Warrant, shall survive the exercise of this Warrant. 

  
 5. 

 Issued this 26th day of February, 2014.

  

			
	 CARDIVA MEDICAL, INC.
 a
Delaware corporation

		
	By:    	 	  

 
			
	Name:	 	
	Title:	 	

  
 6. 

 EXHIBIT A 

NOTICE OF EXERCISE 
  

	TO:	 CARDIVA MEDICAL, INC. 

888 W. Maude Ave. 
 Sunnyvale, CA
94085 
 1. The undersigned hereby elects to purchase ____________ Shares of ___________ pursuant to the terms of the attached Warrant. 

2. Method of Exercise (Please initial the applicable blank): 

 

			
	                	 	The undersigned elects to exercise the attached Warrant by means of a cash payment, and tenders herewith payment in full for the Exercise Price of the Shares being purchased, together with all applicable transfer taxes, if
any.
		
	                	 	The undersigned elects to exercise the attached Warrant by means of the net exercise provisions of Section 3 of the Warrant.

 3. Please issue a certificate or certificates representing said Shares in the name of the undersigned or
in such other name as is specified below: 
  

					
		 	  
	 	
		 	(Name)	 	
		 	  
	 	
			
		 	  
	 	
		 	(Address)	 	

 4. The undersigned hereby represents and warrants that the aforesaid Shares are being acquired for the account
of the undersigned for investment and not with a view to, or for resale, in connection with the distribution thereof, and that the undersigned has no present intention of distributing or reselling such Shares, and all representations and warranties
of the undersigned set forth in Section 9 of the attached Warrant (including Section 9(e) thereof) are true and correct as of the date hereof. 
  

					
		 	    	 	  

(Signature)

		 		 	  

		 		 	(Name)
		 		 	  

		 		 	(Title)

  

	
	(Date)

 EXHIBIT B 

FORM OF TRANSFER 
 (To be
signed only upon transfer of Warrant) 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
___________________________________________ the right represented by the attached Warrant to purchase ______________ shares of _______________________ of Cardiva Medical, Inc. to which the attached Warrant relates, and appoints ________________ as
attorney to transfer such right on the books of _____________, with full power of substitution in the premises. 
 Dated: __________________ 

 

			
	HOLDER
	  

	(Signature must conform in all respects to name of Holder as specified on the face of the Warrant)
		
	Address:	 	
                     
    

		 	  

		 	  

		 	  

	
	TRANSFEREE
	
	  

	By:	 	
                     

	Name:	 	  

	Title:	 	  

		
	Address:	 	  

		 	  

		 	  

		 	  

  

	
	Signed of the presence of:

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