Document:

EX-4.01

 Exhibit 4.01 

ADESTO TECHNOLOGIES CORPORATION 

FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 TABLE OF CONTENTS 
  

									
	 	 	 	  	 	  	Page	 
	 1.
	 	 Definitions
	  	 	2	  
			
	 2.
	 	 Registration Rights
	  	 	5	  
				
		 	 2.1.
	  	 Request for Registration
	  	 	5	  
				
		 	 2.2.
	  	 Company Registration
	  	 	8	  
				
		 	 2.3.
	  	 Obligations of the Company
	  	 	8	  
				
		 	 2.4.
	  	 Furnish Information
	  	 	10	  
				
		 	 2.5.
	  	 Expenses of Demand Registration
	  	 	10	  
				
		 	 2.6.
	  	 Expenses of Company Registration
	  	 	10	  
				
		 	 2.7.
	  	 Underwriting Requirements
	  	 	10	  
				
		 	 2.8.
	  	 Delay of Registration
	  	 	11	  
				
		 	 2.9.
	  	 Indemnification
	  	 	11	  
				
		 	 2.10.
	  	 Reports Under Exchange Act
	  	 	13	  
				
		 	 2.11.
	  	 Form S-3 Registration
	  	 	14	  
				
		 	 2.12.
	  	 Assignment of Registration Rights
	  	 	15	  
				
		 	 2.13.
	  	 Limitations on Subsequent Registration Rights
	  	 	16	  
				
		 	 2.14.
	  	 “Market Stand-Off” Agreement
	  	 	16	  
				
		 	 2.15.
	  	 Termination of Registration Rights
	  	 	17	  
			
	 3.
	 	 Information, Observer and Inspection Rights
	  	 	17	  
				
		 	 3.1.
	  	 Delivery of Financial Statements
	  	 	17	  
				
		 	 3.2.
	  	 Inspection
	  	 	19	  
				
		 	 3.3.
	  	 Assignment
	  	 	19	  
				
		 	 3.4.
	  	 Termination of Information and Inspection Covenants
	  	 	19	  
				
		 	 3.5.
	  	 Confidentiality
	  	 	19	  
			
	 4.
	 	 Right of First Offer
	  	 	20	  
				
		 	 4.1.
	  	 Right of First Offer
	  	 	20	  
				
		 	 4.2.
	  	 Termination
	  	 	21	  
			
	 5.
	 	 Additional Covenants
	  	 	21	  
				
		 	 5.1.
	  	 Insurance
	  	 	21	  
				
		 	 5.2.
	  	 Employee Agreements
	  	 	21	  
				
		 	 5.3.
	  	 Employee Vesting
	  	 	22	  

											
					
					 5.4.
		 Employment Agreement
		 	20	  
					
					 5.5
		 Milestone Achievement
		 	20	  
					
					 5.6
		 Technology License Option
		 	20	  
					
					 5.7
		 Right to Participate
		 	20	  
					
					 5.8
		 Termination of Covenants
		 	23	  
				
			 6.
		 Miscellaneous
		 	24	  
					
					 6.1.
		 Transfers, Successors and Assigns
		 	24	  
					
					 6.2.
		 Governing Law
		 	24	  
					
					 6.3.
		 Counterparts
		 	24	  
					
					 6.4.
		 Titles and Subtitles
		 	24	  
					
					 6.5.
		 Notices
		 	24	  
					
					 6.6.
		 Costs of Enforcement
		 	24	  
					
					 6.7.
		 Amendments and Waivers
		 	24	  
					
					 6.8.
		 Severability
		 	25	  
					
					 6.9.
		 Aggregation of Stock
		 	25	  
					
					 6.10.
		 Entire Agreement
		 	25	  
					
					 6.11.
		 Transfers of Rights
		 	25	  
					
					 6.12.
		 Dispute Resolution
		 	26	  
					
					 6.13.
		 Delays or Omissions
		 	26	  
					
					 6.14.
		 Further Assurances
		 	26	  
		
	 Schedule A
		 -            Schedule of Investors
	   

 ADESTO TECHNOLOGIES CORPORATION 

FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Agreement”) is made as of the 19th day of August 2013 by and among Adesto Technologies Corporation, a California corporation (the “Company”), and each of the investors listed on Schedule A hereto (each,
an “Investor,” and collectively, the “Investors”). 
 RECITALS 

WHEREAS, certain of the Investors are holders of outstanding shares of the Company’s Series A Preferred Stock (the
“Series A Preferred Stock”) issued by the Company pursuant to that certain Series A Preferred Stock Purchase Agreement dated as of February 21, 2007 (the “Prior Series A Investors”); 

WHEREAS, certain of the Investors are holders of outstanding shares of the Company’s Series B Preferred Stock (the
“Series B Preferred Stock”) issued by the Company pursuant to that certain Series B Preferred Stock Purchase Agreement dated as of August 19, 2009 and that certain Series B Preferred Stock Purchase Agreement dated as
of May 27, 2010 (the “Prior Series B Investors”); 
 WHEREAS, certain of the Investors are holders of
outstanding shares of the Company’s Series C Preferred Stock (the “Series C Preferred Stock”) issued by the Company pursuant to that certain Series C Preferred Stock Purchase Agreement dated as of July 6,
2011 (the “Prior Series C Investors” and, together with the Prior Series B Investors and the Prior Series A Investors, the “Prior Investors”); 

WHEREAS, certain of the Investors are holders of outstanding shares of the Company’s Series D Preferred Stock (the
“Series D Preferred Stock”) issued by the Company pursuant to that certain Series D Preferred Stock Purchase Agreement dated as of August 8, 2012 (the “Prior Series D Investors” and, together with the
Prior Series C Investors, the Prior Series B Investors and the Prior Series A Investors, the “Prior Investors”); 

WHEREAS, the Prior Investors have been granted certain rights to cause the Company to register shares of its Common Stock issuable to
the Prior Investors, to receive certain information from the Company, to participate in future equity offerings by the Company and certain other matters pursuant to that certain Third Amended and Restated Investors’ Rights Agreement by and
among the Company and the Prior Investors dated as of August 8, 2013 (the “Prior Agreement”); 
 WHEREAS, the
Company and certain of the Investors (the “New Investors”) are parties to that certain Series E Preferred Stock Purchase Agreement dated as of even date herewith, as such may be amended from time to time (the “Series E
Purchase Agreement”), pursuant to which such Investors are purchasing shares of Series E Preferred Stock of the Company (the “Series E Preferred Stock”) and converting outstanding promissory notes issued by the Company
into shares of Series D-1 Preferred Stock of the Company (the “Series D-1 Preferred Stock” and, together with the Series A Preferred Stock, the Series B Preferred Stock, the Series C Preferred Stock, the Series D Preferred Stock and
the Series E Preferred Stock, the “Preferred Stock”); 

 WHEREAS, the obligations of the Company and the New Investors under the Series E Purchase
Agreement are conditioned, among other things, upon the execution and delivery of this Agreement by the Investors and the Company, and the Prior Investors and the Company desire to amend, restate and replace their rights and obligations under the
Prior Agreement with the rights and obligations set forth in this Agreement. 
 NOW, THEREFORE, THE PARTIES HEREBY AGREE AS
FOLLOWS: 
 1. Definitions. For purposes of this Agreement: 

1.1. The term “Affiliate” shall mean with respect to any individual, corporation, partnership, association, trust, or any
other entity (in each case, a “Person”), any Person which, directly or indirectly, controls, is controlled by or is under common control with such Person, including, without limitation any general partner, officer or director of
such Person and any venture capital fund now or hereafter existing which is controlled by or under common control with one or more general partners or shares the same management company with such Person. 

1.2. The term “Board” shall mean the Board of Directors of the Company. 

1.3. The term “Common Stock” shall mean shares of the Company’s common stock. 

1.4. The term “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated thereunder. 
 1.5. The term “Form S-3” means such form under the
Securities Act as in effect on the date hereof or any registration form under the Securities Act subsequently adopted by the SEC which permits inclusion or incorporation of substantial information by reference to other documents filed by the Company
with the SEC. 
 1.6. The term “GAAP” shall mean generally accepted accounting principles. 

1.7. The term “Holder” shall mean any Person owning or having the right to acquire Registrable Securities or any assignee
thereof in accordance with Section 2.12 hereof. 
 1.8. The Term “Immediate Family Member” shall mean a child,
stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, of a person referred to herein. 

1.9. The term “Initiating Holders” means, collectively, any Holders who properly initiate a registration request under this
Agreement. 

  
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 1.10. The term “IPO” means the Company’s first underwritten public offering
of its Common Stock to the general public that is effected pursuant to a registration statement filed with, and declared effective by, the SEC under the Securities Act. 

1.11. The term “Major Investor” means, any Investor that, collectively with such Investor’s Affiliates, holds at least
five million (5,000,000) shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations and other similar recapitalizations affecting such shares). 

1.12. The term “New Securities” shall mean equity securities of the Company, whether now authorized or not, or rights,
options, or warrants to purchase said equity securities, or securities of any type whatsoever that are, or may become, convertible into or exchangeable into or exercisable for said equity securities; provided, however, that the term “New
Securities” does not include any of the following (collectively, the “Excluded Securities”): (i) shares of Common Stock issued or deemed issued as a dividend or distribution on the Preferred Stock; (ii) shares of
Common Stock issued or issuable by reason of a dividend, stock split, split-up or other distribution on shares of Common Stock; (iii) shares of Common Stock or Preferred Stock issued or deemed issued to officers, employees or directors of, or
consultants to, the Company or any of its subsidiaries pursuant to a plan, agreement or arrangement approved by the Board; (iv) shares of Common Stock or convertible securities actually issued upon the exercise of options or shares of Common
Stock actually issued upon the conversion or exchange of convertible securities, in each case provided such issuance is pursuant to the terms of such option or convertible security; (v) shares of Common Stock or Preferred Stock issued or
issuable in connection with strategic alliances or commercial relationships approved by the Board; (vi) shares of Common Stock or Preferred Stock issued or issuable to banks, equipment lessors or other financial institutions, or to real
property lessors, pursuant to a debt financing, equipment leasing or real property leasing transaction approved by the Board; (vii) shares of Common Stock issued or issuable pursuant to a Qualifying Public Offering (as defined below);
(viii) shares of Common Stock or Preferred Stock issued or issuable pursuant to the acquisition of another corporation by the Company by merger, purchase of all or substantially all of the assets or other reorganization or pursuant to a joint
venture agreement, provided, that such issuances are approved by the Board; (ix) shares of Series E Preferred Stock issued and sold pursuant to the Series E Purchase Agreement and the Common Stock issuable upon conversion thereof;
(x) shares of Series A Preferred Stock and Series B Preferred Stock, and the Common Stock issuable upon conversion of such Series A Preferred Stock and Series B Preferred Stock, issuable upon the exercise of those certain warrants issued to
ATEL Ventures, Inc. to purchase up to an aggregate of 178,571 shares of Series A Preferred Stock and 243,506 shares of Series B Preferred Stock (subject to appropriate adjustment for stock splits, stock dividends, combinations and other similar
recapitalizations affecting such shares) (collectively, the “ATEL Warrants”); (xi) shares of Series C Preferred Stock and the Common Stock issuable upon conversion of such Series C Preferred Stock, issuable upon the exercise of
that certain warrant issued to Altis Semiconductor to purchase up to an aggregate of 2,857,143 shares of Series C Preferred Stock (subject to appropriate adjustment for stock splits, stock dividends, combinations and other similar recapitalizations
affecting such shares) (the “Altis Warrant”); and (xii) shares of Common Stock or rights or warrants to purchase shares of Common Stock and the Common Stock issuable upon exercise of such rights or warrants issued or issuable
to Axon Technologies Corporation pursuant to the terms of that certain Technology License Agreement by and between the Company and Axon Technologies Corporation dated as of January 15, 2007 as such may be amended from time to time. 

  
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 1.13. The term “Qualifying Public Offering” shall mean a firm-commitment
underwritten public offering pursuant to an effective registration statement under the Securities Act in which gross proceeds received by the Corporation shall be at least thirty million dollars ($30,000,000). 

1.14. The terms “register,” “registered,” and “registration” refer to a registration
effected by preparing and filing a registration statement or similar document in compliance with the Securities Act, and the declaration or ordering of effectiveness of such registration statement or document. 

1.15. The term “Registrable Securities” means (i) the Common Stock issuable or issued upon conversion of the Preferred
Stock; (ii) any Common Stock issued or issuable upon conversion of any capital stock of the Company now held by the Investors or acquired by the Investors after the date hereof; (iii) any Common Stock issued, or Common Stock issuable or
issued upon conversion of Preferred Stock issued, in a transaction that is excluded from the definition of New Securities if the Board, including a majority of the Preferred Director(s) then serving on the Board, determines that such shares should
receive registration rights under Section 2.2 hereof; (iv) the Common Stock issued or issuable upon exercise of the warrants issued to Axon Technologies Corporation pursuant to the terms of that certain Technology License Agreement
by and between the Company and Axon Technologies Corporation dated as of January 15, 2007, as such may be amended from time to time; (v) the Common Stock issued or issuable (the “ATEL Common Shares”) upon conversion of up
to 178,571 shares of Series A Preferred Stock and up to 243,506 shares of Series B Preferred Stock (subject to appropriate adjustment for stock splits, stock dividends, combinations and other similar recapitalizations affecting such shares) issuable
upon exercise of the ATEL Warrants; (vi) the Common Stock issued or issuable (the “Altis Common Shares”) upon conversion of up to 2,857,143 shares of Series C Preferred Stock (subject to appropriate adjustment for stock splits,
stock dividends, combinations and other similar recapitalizations affecting such shares) issuable upon exercise of the Altis Warrant; (vii) the Common Stock issued or issuable (the “Opus Common Shares”) upon conversion of
shares of Preferred Stock (subject to appropriate adjustment for stock splits, stock dividends, combinations and other similar recapitalizations affecting such shares) issuable upon exercise of warrants issued by the Company to Opus Bank; and
(viii) any Common Stock of the Company issued (or issuable upon the conversion or exercise of any warrant, right or other security which is issued) as a dividend or other distribution with respect to, or upon conversion of, in exchange for, or
in replacement of, the shares referenced in clauses (i) through (vii), inclusive, above, excluding in all cases, however, any Registrable Securities sold by a person in a transaction in which his rights under Section 2 hereof are
not duly assigned or any shares for which registration rights have terminated pursuant to Section 2.15 of this Agreement. 

1.16. The term “Registrable Securities then outstanding” means the number of shares determined by adding the number of shares
of Common Stock which are then outstanding, and the number of shares of Common Stock issuable pursuant to then exercisable or convertible securities which are Registrable Securities or are securities that are convertible into or exercisable for
securities that are Registrable Securities. 
 1.17. The term “Restated Articles” has the meaning set forth in the Series E
Purchase Agreement. 

  
 4 

 1.18. The term “SEC” means the Securities and Exchange Commission. 

1.19. The term “SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act (or any similar or successor
rule). 
 1.20. The term “SEC Rule 144(k)” means Rule 144(k) promulgated by the SEC under the Securities Act (or any
similar or successor rule). 
 1.21. The term “SEC Rule 145” means Rule 145 promulgated by the SEC under the Securities Act
(or any similar or successor rule). 
 1.22. The term “Securities Act” means the Securities Act of 1933, as amended, and
the rules and regulations promulgated thereunder. 
 1.23. The term “Preferred Directors” means director(s) of the Company
elected by the holders of the Preferred Stock, exclusively and as a separate class, pursuant to the Fifth Amended and Restated Voting Agreement of even date herewith, by and among the Company, the Investors and the shareholders of the Company listed
on Schedule A attached thereto (the “Voting Agreement”). 
 1.24. The term “Violation” means, with respect
to a registration statement filed pursuant to Sections 2.1, 2.2 or 2.11 hereof, losses, claims, damages, or liabilities (joint or several) to which a party hereto may become subject under the Securities Act, the Exchange Act or
other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations: (i) any untrue statement or alleged
untrue statement of a material fact contained in such registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state
therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by any other party hereto, of the Securities Act, the Exchange Act, any state
securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law. 
 2.
Registration Rights. The Company covenants and agrees as follows: 
 2.1. Request for Registration. 

(a) If the Company shall receive at any time after the earlier of (i) five (5) years after the date of this Agreement or
(ii) one hundred eighty (180) days after the effective date of the first registration statement for a public offering of securities of the Company (other than a registration statement relating either to the sale of securities to employees
of the Company pursuant to a stock option, stock purchase or similar plan or a SEC Rule 145 transaction), a written request from the Holders of at least forty percent (40%) of the Registrable Securities then outstanding that the Company file a
registration statement under the Securities Act covering the registration of Registrable Securities representing either an anticipated aggregate public offering price (before any underwriting discounts and commissions) of not less than five million
dollars ($5,000,000) or at least twenty percent (20%) of all Registrable Securities then outstanding, then the Company shall: 
 (i)
within twenty (20) days of the receipt thereof, give written notice of such request to all Holders; 

  
 5 

 (ii) as soon as reasonably practicable, and in any event within sixty (60) days of the
receipt of such request, file a registration statement under the Securities Act covering all Registrable Securities which the Holders request to be registered, subject to the limitations of subsection 2.1(b), within twenty (20) days
of the mailing of such notice by the Company in accordance with Section 6.5; and 
 (iii) use its reasonable best efforts to
cause such registration statement to be declared effective by the SEC as soon as reasonably practicable but in no event later than ninety (90) days after such request. 

(b) 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 a part of their request made pursuant to subsection 2.1(a) and the Company shall include such information in the written notice referred to in subsection 2.1(a). The underwriter will be selected
by the Company, which underwriter shall be reasonably acceptable to a majority in interest of the Holders whose Registrable Securities are to be included in the underwriting. In such event, the right of any Holder to include such Holder’s
Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders
proposing to distribute their securities through such underwriting shall (together with the Company as provided in subsection 2.3(e)) enter into an underwriting agreement in customary form with the underwriter or underwriters selected
for such underwriting. Notwithstanding any other provision of this Section 2.1, if the 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 which would otherwise be underwritten pursuant hereto, and the number of shares of Registrable Securities that may be included in the underwriting shall be allocated among all Holders of
Registrable Securities, including the Initiating Holders, in proportion (as nearly as practicable) to the number of Registrable Securities of the Company owned by each Holder; provided, however, that the number of shares of Registrable
Securities held by the Holders to be included in such underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting. Any Registrable Securities excluded from or withdrawn from such underwriting shall
be withdrawn from 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 one hundred (100) shares. 

(c) The Company shall not be obligated to effect, or to take any action to effect, any registration 

(i) pursuant to this Section 2.1: 

(A) If the Company receives the request for registration six (6) months or less before the expected date of filing of the registration
statement for the Company’s IPO; 

  
 6 

 (B) 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 under the Securities Act; 

(C) After the Company has effected two (2) registrations pursuant to this Section 2.1 and such registrations have been
declared or ordered effective; 
 (D) If the Initiating Holders propose to dispose of shares of Registrable Securities that may be
immediately registered on Form S-3 pursuant to a request made pursuant to Section 2.11 below; or 
 (E) If the Registrable
Securities to be included in the registration statement could be sold without restriction under SEC Rule 144(k) within a ninety (90) day period and the Company is currently subject to the periodic reporting requirements of Sections 12(g) or
15(d) of the Exchange Act; or 
 (ii) pursuant to any other provision of this Agreement: 

(A) 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 under the Securities Act; or 

(B) If the Registrable Securities to be included in the registration statement could be sold without restriction under SEC Rule 144(k) within
a ninety (90) day period and the Company is currently subject to the periodic reporting requirements of Sections 12(g) or 15(d) of the Exchange Act. 

(d) Notwithstanding the foregoing, if the Company shall furnish to Holders requesting a registration statement pursuant to this
Section 2.1 a certificate signed by the Chief Executive Officer of the Company stating that in the good faith judgment of the Board it would be materially detrimental to the Company and its shareholders for such registration statement to
be filed and become effective or to remain effective as long as such registration statement would otherwise be required to remain effective because such action would be materially detrimental to the Company and its shareholders, the Company shall
have the right to defer taking action with respect to such filing for a period of not more than ninety (90) days after receipt of the request of the Initiating Holders; provided, however, that the Company may not utilize this
right more than once in any twelve-month period. 
 A registration statement shall not be counted until such time as such registration
statement has been declared effective by the SEC (unless the Initiating Holders withdraw their request for such registration (other than as a result of information concerning the business or financial condition of the Company which is made known to
the Investors after the date on which such registration was requested) and elect not to pay the registration expenses therefor pursuant to Section 2.5). A registration statement shall not be counted if, as a result of an exercise of the
underwriter’s cut-back provisions, less than all of the total number of Registrable Securities that Holders have requested to be included in such registration statement are actually included. 

  
 7 

 2.2. Company Registration. If the Company proposes to register (including for this purpose
a registration effected by the Company for shareholders other than the Holders) any of its stock or other securities under the Securities Act in connection with the public offering of such securities solely for cash (other than registration
statements relating to registrations made pursuant to Sections 2.1 or 2.11 hereof, a registration statement relating either to the sale of securities to employees of the Company pursuant to a stock option, stock purchase or
similar plan or an SEC Rule 145 transaction, a registration on any form which does not include substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities or a
registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities which are also being registered), the Company shall, at such time, promptly give each Holder written notice of such
registration. Upon the written request of each Holder given within twenty (20) days after mailing of such notice by the Company in accordance with Section 6.5, the Company shall, subject to the provisions of Section 2.7,
use its reasonably best efforts to cause to be registered under the Securities Act all of the Registrable Securities that each such Holder has requested to be registered. The Company shall have the right to terminate or withdraw any registration
initiated by it under this Section 2.2 prior to the effectiveness of such registration whether or not any Holder has elected to include securities in such registration. The expenses of such withdrawn registration shall be borne by the
Company in accordance with Section 2.6 hereof. 
 2.3. Obligations of the Company. Whenever required under this
Section 2 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible: 

(a) prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its reasonable best efforts to
cause such registration statement to become effective, and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep such registration statement effective for a period of up to one hundred twenty
(120) days or, if earlier, until the distribution contemplated in the registration statement has been completed; provided, however, such one hundred twenty-day period shall be extended for a period of time equal to the period the
Holder refrains from selling any securities included in such registration at the request of an underwriter of Common Stock (or other securities) of the Company or, such shorter period of time, if the distribution contemplated in the registration
statement has been completed; 
 (b) prepare and file with the SEC such amendments and supplements to such registration statement and the
prospectus used in connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement for a period of up to one
hundred twenty (120) days or, if earlier, until the distribution contemplated in the registration statement has been completed; 
 (c)
promptly notify the Holders of the effectiveness of such registration statement and furnish to the Holders such numbers of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements of the Securities Act, and
such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them; 

  
 8 

 (d) following the effective date of such registration statement, notify the Holders of any
request by the SEC that the Company amend or supplement such registration statement, or the associated prospectus; 
 (e) use its
reasonable 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; 
 (f) 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; 
 (g) 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, such obligation to continue for a period of up to one hundred twenty (120) days
or, if earlier, until the distribution contemplated in the registration statement has been completed; 
 (h) cause all such Registrable
Securities registered pursuant to this Agreement hereunder to be listed on a national securities exchange or trading system and each securities exchange and trading system on which similar securities issued by the Company are then listed; 

(i) make generally available to its security holders, and to deliver to each Holder participating in the registration statement, an earnings
statement of the Company that will satisfy the provisions of Section 11(a) of the Securities Act covering a period of 12 months beginning after the effective date of such registration statement as soon as reasonably practicable after the
termination of such 12-month period; 
 (j) 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; and 

(k) use its reasonable best efforts to furnish, at the request of any Holder requesting registration of Registrable Securities pursuant to
this Section 2, on the date on which such Registrable Securities are sold to the underwriter, (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such registration, in form and substance as
is customarily given to underwriters in an underwritten public offering, addressed to 

  
 9 

 
the underwriters, if any, and (ii) a “comfort” letter dated such date, from the independent certified public accountants of the Company, in form and substance as is customarily
given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any. 

2.4. Furnish Information. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this
Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method of disposition of
such securities as shall be reasonably required to effect the registration of such Holder’s Registrable Securities. 
 2.5. Expenses
of Demand Registration. All expenses other than underwriting discounts and commissions incurred in connection with registrations, filings or qualifications pursuant to Section 2.1, including (without limitation) all registration,
filing and qualification fees, printers’ and accounting fees, fees and disbursements of counsel for the Company and the reasonable fees and disbursements, not to exceed Forty Thousand Dollars ($40,000), of one (1) counsel for the selling
Holders shall be borne by the Company; provided, however, that the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant to Section 2.1 if the registration request is
subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case all participating Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to
be included in the withdrawn registration), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to one (1) demand registration pursuant to Section 2.1; provided further, however,
that if at the time of such withdrawal, the Holders have learned of a material adverse change in the condition, business, or prospects of the Company from that known to the Holders at the time of their request and have withdrawn the request with
reasonable promptness after learning of such information, then the Holders shall not be required to pay any of such expenses and shall retain their rights pursuant to Section 2.1. 

2.6. Expenses of Company Registration. The Company shall bear and pay all expenses incurred in connection with any registration, filing
or qualification of Registrable Securities with respect to the registrations pursuant to Section 2.2 hereof for each Holder (which right may be assigned as provided in Section 2.12 hereof), including (without limitation) all
registration, filing, and qualification fees, printers and accounting fees relating or apportionable thereto and the fees and disbursements, not to exceed Forty Thousand Dollars ($40,000) of one (1) counsel for the selling Holders selected by
them, but excluding underwriting discounts and commissions relating to Registrable Securities. 
 2.7. Underwriting Requirements. In
connection with any offering involving an underwriting of shares of the Company’s capital stock pursuant to Section 2.2, the Company shall not be required to include any of the Holders’ securities in such underwriting unless
they accept the terms of the underwriting as agreed upon between the Company and its underwriters, and then only in such quantity as the underwriters determine in their sole discretion will not jeopardize the success of the offering by the Company.
If the total number of securities, including Registrable Securities, requested by shareholders to be included in such offering exceeds the amount of securities to be sold other than by the Company that the underwriters determine in their reasonable
discretion is compatible with the success of the offering, then the 

  
 10 

 
Company shall be required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters and the Company determine in their sole
discretion will not jeopardize the success of the offering. In no event shall any Registrable Securities be excluded from such offering unless all other shareholders’ securities have been first excluded. In the event that the underwriters
determine that less than all of the Registrable Securities requested to be registered can be included in such offering, then the Registrable Securities that are included in such offering shall be apportioned pro rata among the selling Holders based
on the number of Registrable Securities held by all selling Holders or in such other proportions as shall mutually be agreed to by all such selling Holders. Notwithstanding the foregoing, in no event shall (i) the amount of securities of the
selling Holders included in the offering be reduced below thirty-three percent (33%) of the total amount of securities included in such offering, unless such offering is the Company’s IPO in which case the selling Holders may be excluded
beyond this amount if the underwriters make the determination described above and no other shareholder’s securities are included in such offering or (ii) notwithstanding (i) above, any Registrable Securities described in
Section 1.15(i)-(ii) be excluded from such underwriting unless all Registrable Securities described in Section 1.15(iii) are first excluded from such offering. For purposes of the preceding parenthetical concerning
apportionment, for any selling shareholder which is a Holder of Registrable Securities and which is an investment fund, partnership, limited liability company or corporation, the partners, members, retired partners, retired members, shareholders and
Affiliates of such Holder, or the estates and family members of any such partners, retired partners, members and retired members and any trusts for the benefit of any of the foregoing persons shall be deemed to be a single “selling
Holder”, and any pro-rata reduction with respect to such “selling Holder” shall be based upon the aggregate amount of shares carrying registration rights owned by all entities and individuals included in such “selling
Holder,” as defined in this sentence. 
 2.8. Delay of Registration. No Holder shall have any right to obtain or seek an
injunction restraining or otherwise delaying any registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 

2.9. Indemnification. In the event any Registrable Securities are included in a registration statement under this
Section 2: 
 (a) To the extent permitted by law, the Company will indemnify and hold harmless each Holder, the partners,
members, officers, directors and stockholders of each Holder, legal counsel and accountants for each Holder, any underwriter (as defined in the Securities Act) for such Holder and each person, if any, who controls such Holder or underwriter within
the meaning of the Securities Act or the Exchange Act, against any Violation and the Company will pay to each such Holder, underwriter, controlling person or other aforementioned person, any legal or other expenses reasonably incurred by them in
connection with investigating or defending any such loss, claim, damage, liability, or action as such expenses are incurred; provided, however, that the indemnity agreement contained in this subsection 2.9(a) shall not
apply to amounts paid in settlement of any such loss, claim, damage, liability, or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld), nor shall the Company be liable in any
such case for any such loss, claim, damage, liability, or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity with written information furnished expressly for use in connection with
such registration by any such Holder, underwriter, controlling person or other aforementioned person. 

  
 11 

 (b) To the extent permitted by law, each selling Holder will severally and not jointly indemnify
and hold harmless the Company, each of its directors, each of its officers who has signed the registration statement, each person, if any, who controls the Company within the meaning of the Securities Act, legal counsel and accountants for the
Company, any underwriter, any other Holder selling securities in such registration statement and any controlling person of any such underwriter or other Holder, against any losses, claims, damages, or liabilities (joint or several) to which any of
the foregoing persons may become subject, under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in respect thereto) arise out of or are based upon any Violation,
in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with written information furnished by such Holder expressly for use in connection with such registration; and each such Holder will
pay, any legal or other expenses reasonably incurred by any person intended to be indemnified pursuant to this subsection 2.9(b), in connection with investigating or defending any such loss, claim, damage, liability, or action;
provided, however, that the indemnity agreement contained in this subsection 2.9(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without
the consent of the Holder, which consent shall not be unreasonably withheld; provided, further, that, in no event shall any indemnity under this subsection 2.9(b) exceed the net proceeds from the offering received by such
Holder, except in the case of fraud or willful misconduct by such Holder. 
 (c) Promptly after receipt by an indemnified party under this
Section 2.9 of notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 2.9,
deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party
similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; 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 reasonable fees and expenses to be paid by the indemnifying party, if there may be one or more legal defenses available to such indemnified party or parties that are
different from or additional to those available to the indemnifying party. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if prejudicial to its ability to defend such
action, shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.9, but the omission so to deliver written notice to the indemnifying party will not relieve it of any liability that it may have
to any indemnified party otherwise than under this Section 2.9. 
 (d) In order to provide for just and equitable contribution
to joint liability under the Securities Act in any case in which either (i) any Holder exercising rights under this Agreement, or any controlling person of any such Holder, makes a claim for indemnification pursuant to this
Section 2.9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may
not be enforced in such case 

  
 12 

 
notwithstanding the fact that this Section 2.9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of any such
selling Holder or any such controlling person in circumstances for which indemnification is provided under this Section 2.9, then, and in each such case, the Company and such Holder will contribute to the aggregate losses, claims,
damages or liabilities to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection
with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined
by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party
and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided however, that, in any such case, (I) no such Holder will be required to contribute
any amount in excess of the public offering price of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement, and (II) no person or entity guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation; provided further, that in no event shall a Holder’s liability pursuant
to this subsection 2.9(d), when combined with the amounts paid or payable by such holder pursuant to subsection 2.9(b), exceed the proceeds from the offering (net of any underwriting discounts or commissions) received by such Holder,
except in the case of willful fraud by such Holder. 
 (e) Notwithstanding the foregoing, to the extent that the provisions on
indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 

(f) Unless otherwise superseded by an underwriting agreement entered into in connection with the underwritten public offering, the
obligations of the Company and Holders under this Section 2.9 shall survive the completion of any offering of Registrable Securities in a registration statement under this Section 2, and shall survive the termination of this
Agreement. 
 2.10. Reports Under Exchange Act. With a view to making available to the Holders the benefits of SEC Rule 144
promulgated under the Securities Act and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company agrees to: 
 (a) make and keep public information available, as those terms are
understood and defined in SEC Rule 144, at all times after the effective date of the first registration statement filed by the Company for the offering of its securities to the general public so long as the Company is subject to the periodic
reporting requirements under Sections 13 or 15(d) of the Exchange Act; 
 (b) voluntarily register its Common Stock under Section 12
of the Exchange Act, as is necessary to enable the Holders to utilize Form S-3 for the sale of their 

  
 13 

 
Registrable Securities, such action to be taken as soon as practicable after the end of the fiscal year in which the first registration statement filed by the Company for the offering of its
securities to the general public is declared effective; 
 (c) file with the SEC in a timely manner all reports and other documents
required of the Company under the Securities Act and the Exchange Act; and 
 (d) furnish to any Holder, so long as the Holder owns any
Registrable Securities, forthwith upon request (i) a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144, the Securities Act and the Exchange Act (at any time after it has become subject to such
reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after it so qualifies), (ii) a copy of the most recent annual or quarterly
report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC which permits the selling of any
such securities without registration or pursuant to such form. 
 2.11. Form S-3
Registration. In case the Company shall receive from Holders of at least forty percent (40%) of all Registrable Securities then outstanding a written request or requests that the Company effect a registration on Form S-3 and any related qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or Holders, the Company will: 

(a) promptly give written notice of the proposed registration, and any related qualification or compliance, to all other Holders; and 

(b) as soon as reasonably practicable, effect such registration and all such qualifications and compliances as may be so requested and as
would permit or facilitate the sale and distribution of all or such portion of such Holder’s or Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other
Holder or Holders joining in such request as are specified in a written request given within fifteen (15) days after receipt of such written notice from the Company; provided, however, that the Company shall not be obligated to
effect any such registration, qualification or compliance, pursuant to this Section 2.11: (1) if Form S-3 is not then available for such offering by the Holders; (2) if the Holders,
together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at an aggregate price to the public (net of any underwriters’
discounts or commissions) of less than one million dollars ($1,000,000); (3) if the Company shall furnish to the Holders a certificate signed by the President of the Company stating that in the good faith judgment of the Board, it would be
materially detrimental to the Company and its shareholders for such Form S-3 Registration to be filed in the near future, in which event the Company shall have the right to defer the filing of the Form S-3 registration statement for a period of not more than ninety (90) days after receipt of the request of the Holder or Holders under this Section 2.11; provided, however, that the
Company shall not utilize this right more than once in any twelve-month period; and provided further that the Company shall not register any securities for the account of itself or any other shareholder during such ninety-day period
(other than a registration relating solely to the sale of securities of participants in a Company stock plan, a registration relating to a corporate reorganization or transaction under Rule 145 of

  
 14 

 
the Securities Act, a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of the
Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered); (4) if the Company has, within the twelve-month period
preceding the date of such request, already effected two (2) registrations on Form S-3 for the Holders pursuant to this Section 2.11; (5) in any particular jurisdiction in which the
Company would be required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification or compliance; or (6) during the period ending one hundred eighty (180) days after the
effective date of a registration statement subject to Section 2.2 hereof. 
 (c) Subject to the foregoing, the Company shall
file a registration statement covering the Registrable Securities and other securities so requested to be registered under this Section 2.11 as soon as reasonably practicable after receipt of the request or requests of the Holders. All
expenses incurred in connection with registrations requested pursuant to Section 2.11, including (without limitation) all registration, filing, qualification, printer’s and accounting fees and the reasonable fees and disbursements
of counsel for the selling Holder or Holders, not to exceed Forty Thousand Dollars ($40,000) for each of such registration, and counsel for the Company, but excluding any underwriters’ discounts or commissions associated with Registrable
Securities, shall be borne by the Company. Registrations effected pursuant to this Section 2.11 shall not be counted as demands for registration or registrations effected pursuant to Section 2.1. 

(d) 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 pursuant to this Section 2.11 and the Company shall include such information in the written notice referred to in subsection 2.11(a). The provisions of subsection
2.1(b) shall be applicable to such request (with the substitution of Section 2.11 for references to Section 2.1). 

2.12. Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this
Section 2 may be assigned (but only with all related obligations) by a Holder to a transferee or assignee of such securities that (i) is a subsidiary, Affiliate, parent, partner, member, limited partner, retired partner, retired
member or stockholder of a Holder, (ii) is a Holder’s family member or trust for the benefit of an individual Holder, or (iii) acquires at least twenty percent (20%) of the number of shares of Registrable Securities that such
Holder purchases pursuant to the Purchase Agreement (as adjusted for stock splits, stock dividends, combinations and other recapitalizations), provided that: (a) the Company is, within a reasonable time after such transfer,
furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being assigned; (b) such transferee or assignee agrees in writing to be bound by, and
subject to, the terms and conditions of this Agreement, including, without limitation, the provisions of Section 2.14 below; and (c) such assignment shall be effective only if immediately following such transfer the further
disposition of such securities by the transferee or assignee is restricted under the Securities Act. For the purposes of determining the number of shares of Registrable Securities held by a transferee or assignee, the holdings of transferee or
assignee (i) that is a subsidiary, parent, partner, limited partner, retired partner, member, retired member or stockholder of a Holder; (ii) that is an Affiliate of the Holder, which means with

  
 15 

 
respect to a limited liability company or a limited liability partnership, a fund or entity managed by the same manager or managing member or general partner or management company or by an entity
controlling, controlled by, or under common control with such manager or managing member or general partner or management company, (iii) who is a Holder’s Immediate Family Member, or (iv) that is a trust for the benefit of an
individual Holder or such Holder’s Immediate Family Member, shall be aggregated together and with those of the assigning Holder; provided that all assignees and transferees who would not qualify individually for assignment of
registration rights shall have a single attorney-in-fact for the purpose of exercising any rights, receiving notices or taking any action under this Section 2. It shall be a condition precedent to the obligations of the Company to take any
action pursuant to this Section 2.12 with respect to the Registrable Securities of any selling Holder that such Holder furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended
method of disposition of such securities as shall be required to effect the registration of such Holder’s Registrable Securities. 

2.13. Limitations on Subsequent Registration Rights. From and after the date of this Agreement, the Company shall not, without the
prior written consent of the Holders of a majority of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective holder of any securities of the Company which would allow such holder or prospective holder
(a) to include such securities in any registration unless under the terms of such agreement, such holder or prospective holder may include such securities in any such registration only to the extent that the inclusion of such securities will
not reduce the amount of the Registrable Securities of the Holders that are included or (b) to demand registration of any securities held by such holder or prospective holder. 

2.14. “Market Stand-Off” Agreement. 

(a) Each Holder hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period commencing
on the date of the final prospectus relating to the Company’s IPO and ending on the date specified by the Company and the managing underwriter (the “Lock-Up Period”) (i) lend, offer, pledge, sell, contract to sell, sell
any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into
or exercisable or exchangeable for Common Stock held immediately prior to the effectiveness of the registration statement for such offering, or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of
the economic consequences of ownership of the Common Stock, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash or otherwise. The Lock-Up Period shall
not exceed one hundred eighty (180) days, provided, however, that for the purpose of allowing the underwriters in the Company’s IPO to comply with NASD Rule 2711(f)(4), if (a) during the last seventeen (17) days of the Lock-Up
Period the Company releases earnings results or material news or a material event relating to the Company occurs, or (b) prior to the expiration of the Lock-Up Period, the Company announces that it will release earnings results during the
sixteen-day period beginning on the last day of the Lock-Up Period, then in each such case, the Lock-Up Period may be extended past one hundred eighty (180) days until the expiration of the eighteen-day period beginning on the date of release
of the earnings results or the occurrence of the material news or material event, as applicable. The foregoing provisions of this Section 2.14 shall apply only to the Company’s IPO, shall not

  
 16 

 
apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, and shall only be applicable to the Holders if all officers, directors and greater than one percent
(1%) shareholders of the Company enter into similar agreements. The underwriters in connection with the Company’s IPO are intended third-party beneficiaries of this Section 2.14 and shall have the right, power and authority to
enforce the provisions hereof as though they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in the Company’s IPO that are consistent with this
Section 2.14 or that are necessary to give further effect thereto within any reasonable timeframe so requested. 
 (b) For
purposes of this Section 2.14, the term “Company” shall include any wholly-owned subsidiary of the Company into which the Company merges or consolidates. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to the Registrable Securities of each Holder (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. 

(c) Each Holder agrees that a legend reading substantially as follows shall be placed on all certificates representing all Registrable
Securities of each Holder (and the shares or securities of every other person subject to the restriction contained in this Section 2.14): 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A LOCK-UP PERIOD OF 180 DAYS OR MORE AFTER THE EFFECTIVE DATE OF THE
ISSUER’S REGISTRATION STATEMENT FILED UNDER THE ACT, AS AMENDED, AS SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE ORIGINAL HOLDER OF THESE SECURITIES, A COPY OF WHICH MAY BE OBTAINED AT THE ISSUER’S PRINCIPAL OFFICE. AS A RESULT OF
SUCH AGREEMENT, THESE SHARES MAY NOT BE TRADED PRIOR TO 180 DAYS AFTER THE EFFECTIVE DATE OF THE INITIAL PUBLIC OFFERING OF THE COMMON STOCK OF THE ISSUER HEREOF. SUCH LOCK-UP PERIOD IS BINDING ON TRANSFEREES OF THESE SHARES. 

2.15. Termination of Registration Rights. 

(a) No Holder shall be entitled to exercise any right provided for in this Section 2 after seven (7) years following the
consummation of the IPO. 
 (b) The rights set forth in this Section 2 shall terminate as to any Holder, when the Registrable
Securities held by such Holder (together with any Affiliate of such Holder with whom such Holder must aggregate its sales under SEC Rule 144) could be sold without restriction under SEC Rule 144(k). 

3. Information, Observer and Inspection Rights. 

3.1. Delivery of Financial Statements. The Company shall deliver to each Holder of at least 4,000,000 shares of Preferred Stock
(subject to appropriate adjustment for stock splits, stock dividends, combinations and other similar recapitalizations affecting such shares), or the Common Stock issued upon conversion of such Preferred Stock (each an “Information Rights
Holder”): 
 (a) as soon as reasonably practicable, but in any event within ninety (90) days after the end of each fiscal
year of the Company, an unaudited balance sheet as of the last day of such year, an unaudited statement of operations and an unaudited statement of cash flows for such year and, unless waived by the Board, within one hundred twenty (120) days
after the end of each fiscal year, an audited balance sheet as of the last day of such year, an audited statement of operations and an audited statement of cash flows for such year, such year-end financial
reports to be in reasonable detail, prepared in accordance with GAAP, except that the financial report may (i) be subject to normal year-end audit adjustments and (ii) not contain all notes thereto which may be required in accordance with
GAAP; 

  
 17 

 (b) as soon as reasonably practicable, but in any event within
forty-five (45) days after the end of each of the first three (3) quarters of each fiscal year of the Company, an unaudited income statement, schedule as to the sources and application of funds for
such fiscal quarter, an unaudited balance sheet and a statement of shareholder’s equity as of the end of such fiscal quarter; 
 (c)
as soon as reasonably practicable, but in any event with forty-five (45) days after the end of each of the first three (3) quarters of each fiscal year of the Company, a statement showing the number of shares of each class and series of
capital stock and securities convertible into or exercisable for shares of capital stock outstanding at the end of the period, the number of common shares issuable upon conversion or exercise of any outstanding securities convertible or exercisable
for common shares and the exchange ratio or exercise price applicable thereto and number of shares of issued stock options and stock options not yet issued but reserved for issuance, if any, all in sufficient detail as to permit the Information
Rights Holder to calculate its percentage equity ownership in the Company and certified by the Chief Financial Officer or Chief Executive Officer of the Company as being true, complete and correct; 

(d) as soon as reasonably practicable, but in any event within thirty (30) days of the end of each month, an unaudited income statement,
an unaudited profit or loss statement; and 
 (e) as soon as reasonably practicable, but in any event thirty (30) days prior to the
end of each fiscal year, a budget and business plan for the next fiscal year prepared on a monthly basis, including balance sheets and sources and applications of funds statements for such months and, as soon as prepared, any other budgets or
revised budgets prepared by the Company; and 
 (f) with respect to the financial statements called for in subsections (a), (b) and
(d) of this Section 3.1, an instrument executed by the Chief Financial Officer and President or Chief Executive Officer of the Company and certifying that such financials were prepared in accordance with GAAP consistently
applied with prior practice for earlier periods (with the exception of footnotes that may be required by GAAP) and fairly present the financial condition of the Company and its results of operation for the periods specified therein, subject to year-end audit adjustments; 
 (g) If for any period the Company shall have any subsidiary whose accounts
are consolidated with those of the Company, then in respect of such period the financial statements delivered pursuant to the foregoing sections shall be the consolidated and consolidating financial statements of the Company and all such
consolidated subsidiaries. 

  
 18 

 (h) Notwithstanding anything else in this Section 3.1 to the contrary, the Company
may cease providing the information set forth in this Section 3.1 during the period starting with the date sixty (60) days prior to the Company’s good faith estimate of the date of filing of, and ending on a date one hundred eighty
(180) days after the effective date of the registration effecting the IPO; provided that the Company is actively employing its reasonable best efforts to cause such registration statement to become effective. 

(i) Notwithstanding the foregoing, it is acknowledged and agreed that the information rights set forth in this Section 3.1 are
not available to any Investor whose shares of Preferred Stock were mandatorily converted into Common Stock for failure to participate in an equity financing round of the Company in accordance with the terms of the Company’s Articles of
Incorporation in effect at the time of such equity financing round. 
 3.2. Inspection. The Company shall permit each Information
Rights Holder, at such Information Rights Holder’s expense, to visit and inspect the Company’s properties, to examine its books of account and records and to discuss the Company’s affairs, finances and accounts with its officers, all
at such reasonable times and as may be reasonably requested by the Information Rights Holder; provided, however, that the Company shall not be obligated pursuant to this Section 3.2 to provide access to any information
which it reasonably considers to be a trade secret or similar confidential information or that would adversely affect the attorney-client privilege between the Company and its counsel. 

3.3. Assignment. The information, observer and inspection rights set forth in this Section 3 may not be assigned or
transferred except that (i) such right is assignable by each Information Rights Holder to any Affiliate of such Information Rights Holder, and (ii) such right is assignable by any Information Rights Holder to any other Information Rights
Holder.  
 3.4. Termination of Information and Inspection Covenants. The covenants set forth in Section 3.1 and
Section 3.2 shall terminate as to Investors and be of no further force or effect immediately prior to (i) the consummation of a Qualifying Public Offering or (ii) upon a Deemed Liquidation Event, as such term is defined in the
Company’s then effective Articles of Incorporation, whichever event shall first occur. 
 3.5. Confidentiality. Each Investor
agrees that such Investor will keep confidential and will not disclose, divulge or use for any purpose, other than to monitor its investment in the Company, any confidential information obtained from the Company pursuant to the terms of this
Agreement, unless such confidential information (i) is known or becomes known to the public in general (other than as a result of a breach of this Section 3.4 by such Investor), (ii) is or has been independently developed or
conceived by the Investor without use of the Company’s confidential information or (iii) is or has been made known or disclosed to the Investor by a third party without a breach of any obligation of confidentiality such third party may
have to the Company; provided, however, that an Investor may disclose confidential information (a) to its attorneys, accountants, consultants, and other professionals to the extent necessary to obtain their services in connection
with monitoring its investment in the Company, (b) to any prospective investor of any Registrable Securities from such Investor as long as such 

  
 19 

 
prospective investor agrees to be bound by the provisions of this Section 3.4, (c) to any Affiliate, financing source, partner, member, stockholder or wholly owned subsidiary of
such Investor in the ordinary course of business, or (d) as may otherwise be required by law, provided that the Investor takes reasonable steps to minimize the extent of any such required disclosure. 

4. Right of First Offer. 

4.1. Right of First Offer. Subject to the terms and conditions specified in this Section 4.1, and applicable securities
laws, in the event the Company proposes to offer or sell any New Securities, the Company shall first make an offering of such New Securities to each Major Investor in accordance with the following provisions of this Section 4.1. A Major
Investor shall be entitled to apportion the right of first offer hereby granted it among itself and its partners, members and Affiliates in such proportions as it deems appropriate. 

(a) The Company shall deliver a notice (the “Offer Notice”), in accordance with the provisions of Section 6.5
hereof, to each of the Major Investors stating (i) its bona fide intention to offer such New Securities, (ii) the number of such New Securities to be offered, and (iii) the price and terms, if any, upon which it proposes to offer such
New Securities. 
 (b) By written notification received by the Company, within fifteen (15) calendar days after mailing of the Offer
Notice, each of the Major Investors may elect to purchase or obtain, at the price and on the terms specified in the Offer Notice, up to that portion of such New Securities which equals the proportion that the number of shares of Registrable
Securities then held by such Major Investor bears to the total number of shares of Common Stock of the Company then outstanding (assuming full conversion and exercise of all convertible or exercisable securities and exercise in full of all
outstanding options and warrants); provided, however, that such Major Investor shall have no right to purchase any such New Securities if such Investor cannot demonstrate to the Company’s reasonable satisfaction that such Investor
is, at the time of the proposed issuance of such New Securities, an “accredited investor” as defined in Regulation D under the Securities Act. The Company shall promptly, in writing, inform each Major Investor that elects to purchase all
the shares available to it (each, a “Fully-Exercising Investor”) of any other Major Investor’s failure to do likewise. During the fifteen (15) calendar-day period commencing after receipt of such information, each Fully-Exercising Investor shall be entitled to obtain that portion of the New Securities for which Major Investors were entitled to subscribe but which were not subscribed for by the Major Investors which is equal
to the proportion that the number of shares of Registrable Securities then held by such Fully-Exercising Investor bears to the total number of shares of Registrable Securities then held by all Fully-Exercising Investors who wish to purchase such unsubscribed shares. 
 (c) If all New Securities
referred to in the Offer Notice are not elected to be purchased or obtained as provided in subsection 4.1(b) hereof, the Company may, during the sixty (60) day period following the expiration of the period provided in subsection
4.1(b) hereof, offer the remaining unsubscribed portion of such New Securities (collectively, the “Refused Securities”) to any person or persons at a price not less than, and upon terms no more favorable to the offeree than,
those specified in the Offer Notice. If the Company does not enter into an agreement for the sale of the New Securities within such period, or if such agreement is not consummated within thirty (30) days of the execution thereof, the right
provided hereunder shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the Major Investors in accordance with this Section 4.1. 

  
 20 

 (d) The right of first offer in this Section 4.1 shall not be applicable to any
Excluded Securities. 
 (e) The right of first offer set forth in this Section 4.1 may not be assigned or transferred except
that (i) such right is assignable by each Major Investor to any Affiliate of such Major Investor, and (ii) such right is assignable by any Major Investor to any other Major Investor. Notwithstanding the foregoing, it is acknowledged and
agreed that the right of first offer set forth in this Section 4.1 shall not be available to any Investor whose shares of Preferred Stock were mandatorily converted into Common Stock for failure to participate in an equity financing round of
the Company in accordance with the terms of the Company’s Articles of Incorporation in effect at the time of such equity financing round 

(f) In lieu of complying with the provisions of this Section 4.1, the Company may elect to give notice to the Major Investors
within thirty (30) days after the issuance of New Securities. Such notice shall describe the type, price and terms of the New Securities. Each Major Investor shall have twenty (20) days from the date of receipt of such notice to elect to
purchase up to the number of New Securities that would, if purchased by such Major Investor, maintain such Major Investor’s percentage ownership position, calculated as set forth in subsection 4.1(b) prior to giving effect to the
issuance of such New Securities. The closing of such sale shall occur within sixty (60) days of the date of notice to the Major Investors. 

4.2. Termination. The provisions of this Section 4 shall terminate and be of no further force or effect immediately prior
to (i) the consummation of a Qualifying Public Offering or (ii) upon a Deemed Liquidation Event, as such term is defined in the Company’s then effective Articles of Incorporation, whichever event shall first occur. 

5. Additional Covenants. 

5.1. Insurance. The Company shall use its reasonable best efforts to maintain, from financially sound and reputable insurers,
(i) Directors and Officers Errors and Omissions insurance in an amount reasonably satisfactory to the Board and (ii) term “key-person” insurance on Narbeh Derhacobian, in a minimum of $1,000,000 or an amount reasonably
satisfactory to the Board, until such time as the Board determines that such insurance should be discontinued. The “key person” policy shall name the Company as loss payee and neither policy shall be cancelable by the Company without prior
approval of the Board. 
 5.2. Employee Agreements. The Company will cause each person now or hereafter employed by it or any
subsidiary (or engaged by the Company or any subsidiary as a consultant or independent contractor) with access to confidential information and/or trade secrets to enter into a non-disclosure and proprietary rights assignment agreement. In addition,
the Company shall not amend, modify, terminate, waive or otherwise alter, in whole or in part, any above-referenced agreement or any restricted stock agreement between the Company and any employee without the approval of the Board. 

  
 21 

 5.3. Employee Vesting. Unless otherwise approved by the Board, all future employees and
consultants of the Company who shall purchase, or receive options to purchase, shares of the Company’s capital stock following the date hereof shall be required to execute stock purchase or option agreements providing for (i) vesting of
shares over a four-year period with the first twenty five percent (25%) of such shares vesting following twelve (12) months of continued employment or services, and the remaining shares vesting in equal monthly installments over the
following thirty six (36) months and (ii) a 180-day lockup period in connection with the Company’s IPO. The Company shall retain a “right of first refusal” on employee transfers until the Company’s IPO and the right to
repurchase unvested shares at cost. 
 5.4. Qualified Small Business Stock Status. In the event that the Company proposes to take an
action or engage in a transaction that would reasonably be expected to result in the Shares no longer being “qualified small business stock” within the meaning of Section 1202(c) of the Internal Revenue Code of 1986, as amended (the
“Code”), the Company shall notify the Investors and consult in good faith to devise a mutually agreeable and reasonable alternative course of action or transaction structure that would preserve such status. In addition, the Company
shall submit to the Investors and to the Internal Revenue Service any reports that may be required under Section 1202(d)(1)(C) of the Code and any related Treasury Regulations. In addition, within ten (10) days after any Investor has
delivered to the Company a written request therefor, the Company shall deliver to such Investor a written statement informing the Investor whether, in the Company’s good-faith judgment after a reasonable investigation, such Investor’s
interest in the Company constitutes “qualified small business stock” as defined in Section 1202(c) of the Code, or would constitute “qualified small business stock,” if determination of whether stock constitutes
“qualified small business stock” were made by taking into account the modifications set forth in Section 1045(b)(4) of the Code. The Company’s obligation to furnish a written statement pursuant to this Section 5.4
shall continue notwithstanding the fact that a class of the Company’s stock may be traded on an established securities market. 
 5.5.
Press Releases. 
 (a) Any press release issued by the Company in connection with its sale and issuance of Preferred Stock shall
have received prior approval by the Board and the Company shall be responsible for any expenses incurred in connection with such press release. 

(b) In the event a Company press release contains the name of Applied Ventures, LLC or its Affiliate, such press release shall have received
approval from Applied Ventures, LLC prior to its issuance. 
 (c) The Company acknowledges that Serge Dassault (“M.
Dassault”) or his affiliates, representatives or agents may be required to give or issue a notice or press release concerning M. Dassault’s investment in the Company in compliance with the applicable laws of France; provided, that any
such notice or press release shall not contain the name of Applied Ventures, LLC or its Affiliate without the prior approval by Applied Ventures, LLC. 

(d) The Company shall not issue a press release containing the name of Altera Corporation or any of its Affiliates without the prior written
consent of Altera Corporation. 

  
 22 

 (e) The Company shall not issue a press release containing the name of Microchip Technology
Incorporated or any of its Affiliates without the prior written consent of Microchip Technology Incorporated. 
 (f) In the event that
Integrated Silicon Solution Inc. or any of its Affiliates becomes a party to this Agreement as an Investor, the Company shall not issue a press release containing the name of Integrated Silicon Solution Inc. or any of its Affiliates without the
prior written consent of Integrated Silicon Solution Inc. 
 5.6. Military Contracts. The Company shall notify M. Dassault before
entering into an agreement with a military institution. For the sake of clarity, the parties hereto acknowledge and agree that such notice obligation of the Company shall not provide M. Dassault with the right to approve or disapprove any such
agreement with a military institution or the Company’s entering any such agreement. 
 5.7. Management Carve-Out Plan. 

(a) Following the execution of this Agreement, the Company shall adopt a management carve-out plan (the “Carve-Out Plan”), as contemplated by the Restated Articles, for payments to certain service providers of the Company (the “Plan Participants”) upon a Deemed Liquidation Event (as defined in
the Restated Articles). Such Carve-Out Plan shall contain the following material terms (the “Carve-Out Plan Terms”): 

(i) Following payment in full of the Series E First Liquidation Preference (as defined in the Restated Articles) to holders of shares of
Series E Preferred Stock, the aggregate amount to be paid to the Plan Participants under the Carve-Out Plan will be established in an amount equal to five percent (5%) (the “Carve-Out Percentage”) of the remaining proceeds from
the Deemed Liquidation Event following the payment of the Series E First Liquidation Preference. 
 (ii) If the value of the Company in the
Deemed Liquidation Event exceeds $300,000,000, but is equal to or less than $400,000,000, then the Carve-Out Percentage will increase to seven and one-half percent (7.5%) for the amount by which such value exceeds $300,000,000. 

(iii) If the value of the Company in the Deemed Liquidation Event exceeds $4,000,000, then the Carve-Out Percentage will increase to seven
and one-half percent (7.5%) for the amount by which such value exceeds $300,000,000 up to $400,000,000, and then the Carve-Out Percentage will increase to ten percent (10%) for the amount by which such value exceeds $400,000,000. 

(b) Following the adoption and implementation of the Carve-Out Plan pursuant to Section 5.7(a), the Carve-Out Plan Terms set
forth herein and therein may only be modified, rescinded or amended upon approval by the Board and holders of ninety percent (90%) of the outstanding shares of Series E Preferred Stock. 

5.8. Termination of Certain Covenants. The covenants set forth in these Sections 5.1 through 5.7 shall terminate and be
of no further force or effect upon (a) the consummation of a Qualifying Public Offering; (b) upon a Deemed Liquidation Event, as such 

  
 23 

 
term is defined in the Company’s then effective Amended and Restated Articles of Incorporation; and (c) the Company first becoming subject to the periodic reporting requirements of
Sections 12(g) or 15(d) of the Exchange Act, whichever event shall first occur. 
 6. Miscellaneous. 

6.1. Transfers, Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon
the respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations,
or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 
 6.2. Governing Law. This
Agreement shall be governed by and construed in accordance with the General Corporation Law of California, without regard to its principles of conflicts of laws. 

6.3. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. This Agreement may also be executed and delivered by facsimile signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. 
 6.4. Titles and Subtitles. The titles and subtitles used in this Agreement are used for
convenience only and are not to be considered in construing or interpreting this Agreement. 
 6.5. Notices. All notices and other
communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent
during normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one
(1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective parties at their address as set forth on the signature
page or Schedule A hereto, or to such email address, facsimile number or address as subsequently modified by written notice given in accordance with this Section 6.5. If notice is given to the Company, a copy shall also be
sent to Mark A. Leahy, Esq. c/o Fenwick & West LLP, Silicon Valley Center, 801 California Street, Mountain View, California, 94041, Facsimile: (650) 938-5200. 

6.6. Costs of Enforcement. If any Party to this Agreement seeks to enforce its rights under this Agreement by legal proceedings, the
non-prevailing Party shall pay all costs and expenses incurred by the prevailing Party, including, without limitation, all reasonable attorneys’ fees. 

6.7. Amendments and Waivers. Except as provided in Section 5.7 above, any term of this Agreement may be amended and the
observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), 

  
 24 

 
with and only with the written consent of the Company and the holders of a majority of the Registrable Securities then held by the Investors; provided, however, that none of the
Registrable Securities held by Axon Technologies Corporation, ATEL Ventures, Inc., Altis Semiconductor or Opus Bank shall be included in any manner in the calculation set forth in this sentence; and provided further, however, that the
Investors may not amend the Agreement in any manner that would cause the ATEL Common Shares, the Altis Common Shares or the Opus Common Shares to no longer be Registrable Securities hereunder. Any amendment or waiver effected in accordance with this
paragraph shall be binding upon each holder of any Registrable Securities then outstanding, each future holder of all such Registrable Securities, and the Company. Notwithstanding the foregoing, this Agreement may not be amended or terminated and
the observance of any term hereunder may not be waived with respect to any Investor without the written consent of such Investor, unless such amendment, termination or waiver applies to all Investors in the same fashion (it being agreed that a
waiver of the provisions of Section 4 with respect to a particular transaction shall be deemed to apply to all Investors in the same fashion if such waiver does so by its terms, notwithstanding the fact that certain Investors may
nonetheless, by agreement with the Company, purchase securities in such transaction). The Company shall give prompt written notice of any amendment or termination hereof or waiver hereunder to any party hereto that did not consent in writing to such
amendment, termination or waiver. Any amendment, termination or waiver effected in accordance with this Section 6.7 shall be binding on all parties hereto, even if they do not execute such consent. No waivers of or exceptions to any
term, condition or provision of this Agreement, in any one or more instances, shall be deemed to be, or construed as, a further or continuing waiver of any such term, condition or provision. 

6.8. Severability. Whenever possible, each provision or portion of any provision of this Agreement will be interpreted in such manner
as to be effective and valid under applicable law, but if any provision or portion of any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such
invalidity, illegality or unenforceability will not affect any other provision or portion of any provision in such jurisdiction, and this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or
unenforceable provision or portion of any provision had never been herein. 
 6.9. Aggregation of Stock. All shares of Registrable
Securities held or acquired by Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement. 

6.10. Entire Agreement. This Agreement (including the Schedules and Exhibits hereto, if any) constitutes the full and entire
understanding and agreement between the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties, including, without limitation, the Prior
Agreement, are expressly canceled. 
 6.11. Transfers of Rights. Each Investor hereto hereby agrees that it will not, and may, not
assign any of its rights and obligations hereunder, unless such rights and obligations are assigned by such Investor to (a) any person or entity to which Registrable Securities are transferred by such Investor, or (b) to any Affiliate of
such Investor, and, in each case, such transferee shall be deemed an “Investor” for purposes of this Agreement; provided 

  
 25 

 
that such assignment of rights shall be contingent upon the transferee providing a written instrument to the Company notifying the Company of such transfer and assignment and agreeing in writing
to be bound by the terms of this Agreement. 
 6.12. Dispute Resolution. Any unresolved controversy or claim arising out of or
relating to this Agreement, except as (i) otherwise provided in this Agreement, or (ii) any such controversies or claims arising out of either party’s intellectual property rights for which a provisional remedy or equitable relief is
sought, shall be submitted to arbitration by one arbitrator mutually agreed upon by the parties, and if no agreement can be reached within thirty (30) days after names of potential arbitrators have been proposed by the American Arbitration
Association (the “AAA”), then by one arbitrator having reasonable experience in corporate finance transactions of the type provided for in this Agreement and who is chosen by the AAA. The arbitration shall take place in San Jose,
California, in accordance with the AAA rules then in effect, and judgment upon any award rendered in such arbitration will be binding and may be entered in any court having jurisdiction thereof. There shall be limited discovery prior to the
arbitration hearing as follows: (a) exchange of witness lists and copies of documentary evidence and documents relating to or arising out of the issues to be arbitrated, (b) depositions of all party witnesses and (c) such other
depositions as may be allowed by the arbitrators upon a showing of good cause. Depositions shall be conducted in accordance with the Federal Arbitration Act, 9 U.S.C. §1 et seq, the arbitrator shall be required to provide in writing to the
parties the basis for the award or order of such arbitrator, and a court reporter shall record all hearings, with such record constituting the official transcript of such proceedings. Each party will bear its own costs in respect of any disputes
arising under this Agreement. Each of the parties to this Agreement consents to personal jurisdiction for any equitable action sought in the U.S. District Court for the District of California or any court of the State of California having subject
matter jurisdiction. 
 6.13. Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party
under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or
default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any
waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and
shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 

6.14. Further Assurances. Subject to the terms and conditions herein provided, each of the parties hereto agrees to use its best
efforts to take, or cause to be taken, all action and to do, or cause to be done, all things necessary, proper, or advisable under applicable laws and regulations to consummate and make effective the transactions contemplated by this Agreement,
including using its best efforts to obtain all necessary waivers, consents, and approvals, and effecting all necessary registrations and filings. 

6.15. Lender Relationship. Notwithstanding anything herein to the contrary, nothing contained in this Agreement shall affect, limit or
impair the rights and remedies of Opus 

  
 26 

 
Bank, any of its Affiliates or any other lender in their capacity as lenders to the Company or any of its Affiliates pursuant to any agreement under which the Company or such Affiliate has
borrowed money. Without limiting the generality of the foregoing, none of Opus Bank or any such other Person, in exercising its rights as a lender, including making its decision on whether to foreclose on any collateral security, will have any duty
to consider (a) its status as a direct or indirect shareholder of the Company, (b) the interests of the Company or any of its Affiliates or (c) any duty it may have to any other direct or indirect shareholder of the Company, except as
may be required under the applicable loan documents. 
 [Remainder of Page Intentionally Left Blank] 

  
 27 

 IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	THE COMPANY:
	
	ADESTO TECHNOLOGIES CORPORATION
		
	By:		 /s/ Narbeh Derhacobian

		
	Name:		Narbeh Derhacobian
		
	Title:		President and Chief Executive Officer
		
	Address:		 1250 Borregas Avenue
 Sunnyvale, CA
94089

  
 [SIGNATURE PAGE TO
FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	INVESTORS:
	
	ARCH Venture Fund VI, L.P.
	By:		ARCH Venture Partners VI, L.P.
	Its:		General Partner
	By:		ARCH Venture Partners VI, LLC
	Its:		General Partner
		
	By:		 /s/ Keith Crandell

	Its:		Managing Director

  
 [SIGNATURE PAGE TO
FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	INVESTORS:
	
	 ATA Ventures II, L.P., by its General Partner
ATA Management II, LLC

	 ATA Affiliates Fund II, L.P., by its General Partner
ATA Management II, LLC

	 ATA Investment Fund II, L.P., by its General Partner
ATA Management II,
LLC

		
	By:		 /s/ T. Peter Thomas

			T. Peter Thomas, Managing Director

  
 [SIGNATURE PAGE TO
FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	INVESTORS:
	
	Harris & Harris Group, Inc.
		
	By:		 /s/ Sandra M. Forman

			Sandra M. Forman
			General Counsel

  
 [SIGNATURE PAGE TO
FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	INVESTORS:
	
	Applied Ventures, LLC
		
	By:		 /s/ J. Christopher Moran

	Name:		J. Christopher Moran
	Title:		Vice President and General Manager

  
 [SIGNATURE PAGE TO
FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

					
	INVESTORS:
	
	Adams Street 2006 Direct Fund, L.P.
		
	By:		ASP 2006 Direct Management, LLC, its General Partner
	By:		Adams Street Partners, LLC, its Managing Member
		
	By:		 /s/ Thomas D. Berman

			Name:		 Thomas D. Berman

			Title:		Partner
	
	Adams Street 2007 Direct Fund, L.P.
		
	By:		ASP 2007 Direct Management, LLC, its General Partner
	By:		Adams Street Partners, LLC, its Managing Member
		
	By:		 /s/ Thomas D. Berman

			Name:		 Thomas D. Berman

			Title:		Partner

  
 [SIGNATURE PAGE TO
FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	INVESTORS:
	
	Microchip Technology Incorporated
		
	By:		 /s/ Steve Drehobl

		
	Name:		 Steve Drehobl

		
	Title:		 Vice President

  
 [SIGNATURE PAGE TO
FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	INVESTORS:
		
	By:		 /s/ Serge Dassault

			Serge Dassault

  
 [SIGNATURE PAGE TO
FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	INVESTORS:
	
	Altera Corporation
		
	By:		 /s/ William Hata

		
	Name:		 William Y. Hata

		
	Title:		 SVP Worldwide Operations and Engineering

  
 [SIGNATURE PAGE TO
FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

 SCHEDULE A 

INVESTORS 
  

	
	 Investor

	 ARCH Venture Fund VI, L.P.

	
	 ATA Ventures II, L.P.

	
	 ATA Affiliates Fund II, L.P.

	
	 ATA Investment Fund II, L.P.

	
	 Harris & Harris Group, Inc.

	
	 Adams Street 2006 Direct Fund, L.P.

	
	 Adams Street 2007 Direct Fund, L.P.

	
	 Applied Ventures, LLC

	
	 Rambus Inc.

	
	 Microchip Technology Incorporated

	
	 ATEL Ventures, Inc.

	
	
	 Serge Dassault

	
	 Altis Semiconductor

	
	 Altera Corporation

	
	 Opus BankEX-10.02

 Exhibit 10.02 

ADESTO TECHNOLOGIES CORPORATION 

2007 EQUITY INCENTIVE PLAN 

As adopted on February 15, 2007 

and as Amended on July 22, 2009, on July 5, 2011, 

on August 3, 2012 and April 29, 2015i 

1. PURPOSE. The purpose of the 2007 Equity Incentive Plan (this “Plan”) is to provide incentives
to attract, retain and motivate eligible persons whose present and potential contributions are important to the success of Adesto Technologies Corporation, a California corporation (the “Company”), by offering them an
opportunity to participate in the Company’s future performance through awards of Options and Restricted Stock. Capitalized terms not defined in the text are defined in Section 22 hereof. Although this Plan is intended to be a written
compensatory benefit plan within the meaning of Rule 701 promulgated under the Securities Act, grants may be made pursuant to this plan which do not qualify for exemption under Rule 701 or Section 25102(o) of the California Corporations
Code. Any requirement of this Plan which is required in law only because of Section 25102(o) need not apply if the Committee so provides. 

2. SHARES SUBJECT TO THE PLAN. 

2.1 Number of Shares Available. Subject to Sections 2.2 and 17 hereof, the total number of Shares reserved and available
for grant and issuance pursuant to this Plan will be 87,500,000 Shares or such lesser number of Shares as permitted by applicable law. 

Subject to Sections 2.2, 5.10 and 17 hereof, Shares subject to Awards previously granted will again be available for grant and issuance in
connection with future Awards under this Plan to the extent such Shares: (i) cease to be subject to issuance upon exercise of an Option, other than due to exercise of such Option; (ii) are subject to an Award granted hereunder but the
Shares subject to such Award are forfeited or repurchased by the Company at the lower of the original issue price or the fair market value on the Termination Date; or (iii) are subject to an Award that otherwise terminates without Shares being
issued. At all times the Company will reserve and keep available a sufficient number of Shares as will be required to satisfy the requirements of all Awards granted and outstanding under this Plan. 

2.2 Adjustment of Shares. In the event that the number of outstanding shares of the Company’s Common Stock is
changed by a stock dividend, recapitalization, stock 
  

	i 	On February 15, 2007, 9,000,000 shares of Common Stock were reserved upon adoption of the Plan for issuance thereunder. 

On July 22, 2009, the Plan was amended to reserve an additional 4,000,000 shares for an aggregate total of 13,000,000 shares of Common Stock for issuance
thereunder. 
 On July 5, 2011, the Plan was amended to reserve an additional 3,000,000 shares for an aggregate total of 16,000,000 shares of Common
Stock for issuance thereunder. 
 On August 3, 2012, the Plan was amended to reserve an additional 10,000,000 shares for an aggregate total of
26,000,000 shares of Common Stock for issuance thereunder. 
 On April 29, 2015, the Plan was amended to reserve an additional 61,500,000 shares for an
aggregate total of 87,500,000 shares of Common Stock for issuance thereunder. 

  
 1 

 
split, reverse stock split, subdivision, combination, reclassification or similar change in the capital structure of the Company without consideration, then (i) the number of Shares reserved
for issuance under this Plan, (ii) the Exercise Prices of and number of Shares subject to outstanding Options and (iii) the Purchase Prices of and number of Shares subject to other outstanding Awards will be proportionately adjusted,
subject to any required action by the Board or the shareholders of the Company and compliance with applicable securities laws; provided, however, that fractions of a Share will not be issued but will either be paid in cash at the Fair Market Value
of such fraction of a Share or will be rounded down to the nearest whole Share, as determined by the Committee. 
 3.
ELIGIBILITY. ISOs (as defined in Section 5 hereof) may be granted only to employees (including officers and directors who are also employees) of the Company or of a Parent or Subsidiary of the Company. NQSOs (as defined in Section 5
hereof) and Restricted Stock Awards may be granted to employees, officers, directors and consultants of the Company or any Parent or Subsidiary of the Company; provided such consultants render bona fide services not in connection with the offer and
sale of securities in a capital-raising transaction. A person may be granted more than one Award under this Plan. 
 4.
ADMINISTRATION. 
 4.1 Committee Authority. This Plan will be administered by the Committee or the Board if no
Committee is created by the Board. Subject to the general purposes, terms and conditions of this Plan, and to the direction of the Board, the Committee will have full power to implement and carry out this Plan. Without limitation, the Committee will
have the authority to: 
  

	 	(a)	construe and interpret this Plan, any Award Agreement and any other agreement or document executed pursuant to this Plan; 

  

	 	(b)	prescribe, amend and rescind rules and regulations relating to this Plan; 

  

	 	(c)	approve persons to receive Awards; 

  

	 	(d)	determine the form and terms of Awards; 

  

	 	(e)	determine the number of Shares or other consideration subject to Awards; 

  

	 	(f)	determine whether Awards will be granted singly, in combination with, in tandem with, in replacement of, or as alternatives to, other Awards under this Plan or awards under any other incentive or compensation plan of
the Company or any Parent or Subsidiary of the Company; 

  

	 	(g)	grant waivers of any conditions of this Plan or any Award; 

  

	 	(h)	determine the terms of vesting, exercisability and payment of Awards; 

  
 2 

	 	(i)	correct any defect, supply any omission, or reconcile any inconsistency in this Plan, any Award, any Award Agreement, any Exercise Agreement or any Restricted Stock Purchase Agreement; 

 

	 	(j)	determine whether an Award has been earned; 

  

	 	(k)	make all other determinations necessary or advisable for the administration of this Plan; and 

  

	 	(l)	extend the vesting period beyond a Participant’s Termination Date. 

 4.2 Committee
Discretion. Unless in contravention of any express terms of this Plan or Award, any determination made by the Committee with respect to any Award will be made in its sole discretion either (i) at the time of grant of the Award, or
(ii) subject to Section 5.9 hereof, at any later time. Any such determination will be final and binding on the Company and on all persons having an interest in any Award under this Plan. The Committee may delegate to one or more officers of the
Company the authority to grant an Award under this Plan, provided such officer or officers are members of the Board. 
 5.
OPTIONS. The Committee may grant Options to eligible persons described in Section 3 hereof and will determine whether such Options will be Incentive Stock Options within the meaning of the Code (“ISOs”) or
Nonqualified Stock Options (“NQSOs”), the number of Shares subject to the Option, the Exercise Price of the Option, the period during which the Option may be exercised, and all other terms and conditions of the Option,
subject to the following: 
 5.1 Form of Option Grant. Each Option granted under this Plan will be evidenced by an
Award Agreement which will expressly identify the Option as an ISO or an NQSO (“Stock Option Agreement”), and will be in such form and contain such provisions (which need not be the same for each Participant) as the Committee
may from time to time approve, and which will comply with and be subject to the terms and conditions of this Plan. 
 5.2 Date of
Grant. The date of grant of an Option will be the date on which the Committee makes the determination to grant such Option, unless a later date is otherwise specified by the Committee. The Stock Option Agreement and a copy of this
Plan will be delivered to the Participant within a reasonable time after the granting of the Option. 
 5.3 Exercise
Period. Options may be exercisable immediately but subject to repurchase pursuant to Section 11 hereof or may be exercisable within the times or upon the events determined by the Committee as set forth in the Stock Option Agreement
governing such Option; provided, however, that no Option will be exercisable after the expiration of ten (10) years from the date the Option is granted; and provided further that no ISO granted to a person who directly or by attribution owns more
than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of any Parent or Subsidiary of the Company (“Ten Percent Shareholder”) will be exercisable after the expiration of five (5)
years from the date the ISO is granted. The Committee also may provide for Options to become exercisable at one time or from time to time, periodically or otherwise, in such number of Shares or percentage of Shares as the Committee determines.
Subject to earlier termination of the Option as provided herein, to the extent section 25102(o) of the California Corporations Code is intended to apply, each Participant who is not an officer, director or consultant of the Company or of a Parent or

  
 3 

 
Subsidiary of the Company shall have the right to exercise an Option granted hereunder at the rate of no less than twenty-five percent (25%) per year over four (4) years from the date such
Option is granted. 
 5.4 Exercise Price. The Exercise Price of an Option will be determined by the Committee when the
Option is granted and may not be less than eighty-five percent (85%) of the Fair Market Value of the Shares on the date of grant; provided that (i) the Exercise Price of an ISO will not be less than one hundred percent (100%) of the Fair Market
Value of the Shares on the date of grant and (ii) the Exercise Price of any Option granted to a Ten Percent Shareholder will not be less than one hundred ten percent (110%) of the Fair Market Value of the Shares on the date of grant. Payment for the
Shares purchased must be made in accordance with Section 7 hereof. 
 5.5 Method of Exercise. Options may be
exercised only by delivery to the Company of a written stock option exercise agreement (the “Exercise Agreement”) in a form approved by the Committee (which need not be the same for each Participant). The Exercise Agreement
will state (i) the number of Shares being purchased, (ii) the restrictions imposed on the Shares purchased under such Exercise Agreement, if any, and (iii) such representations and agreements regarding Participant’s investment intent and
access to information and other matters, if any, as may be required or desirable by the Company to comply with applicable securities laws. Participant shall execute and deliver to the Company the Exercise Agreement together with payment in full of
the Exercise Price, and any applicable taxes, for the number of Shares being purchased. 
 5.6 Termination. Subject to
earlier termination pursuant to Sections 17 and 18 hereof and notwithstanding the exercise periods set forth in the Stock Option Agreement, exercise of an Option will always be subject to the following: 

(a) If the Participant is Terminated for any reason other than death, Disability or for Cause, then the Participant may exercise such
Participant’s Options only to the extent that such Options are exercisable as to Vested Shares upon the Termination Date or as otherwise determined by the Committee. Such Options must be exercised by the Participant, if at all, as to all or
some of the Vested Shares calculated as of the Termination Date or such other date determined by the Committee, within three (3) months after the Termination Date (or within such shorter time period, not less than thirty (30) days, or
within such longer time period, not exceeding five (5) years, after the Termination Date as may be determined by the Committee, with any exercise beyond three (3) months after the Termination Date deemed to be an NQSO) but in any event, no
later than the expiration date of the Options. 
 (b) If the Participant is Terminated because of Participant’s death or Disability
(or the Participant dies within three (3) months after a Termination other than for Cause), then Participant’s Options may be exercised only to the extent that such Options are exercisable as to Vested Shares by Participant on the
Termination Date or as otherwise determined by the Committee. Such options must be exercised by Participant (or Participant’s legal representative or authorized assignee), if at all, as to all or some of the Vested Shares calculated as of the
Termination Date or such other date determined by the Committee, within twelve (12) months after the Termination Date (or within such shorter time period, not less than six (6) months, or within such longer time period, not exceeding five
(5) years, after the Termination Date as may be determined by the Committee, with any exercise beyond (i) three 

  
 4 

 
(3) months after the Termination Date when the Termination is for any reason other than the Participant’s death or disability, within the meaning of Section 22(e)(3) of the Code, or
(ii) twelve (12) months after the Termination Date when the Termination is for Participant’s disability, within the meaning of Section 22(e)(3) of the Code, deemed to be an NQSO) but in any event no later than the expiration date
of the Options. 
 (c) If the Participant is terminated for Cause, the Participant may exercise such Participant’s Options, but not to
an extent greater than such Options are exercisable as to Vested Shares upon the Termination Date and Participant’s Options shall expire on such Participant’s Termination Date, or at such later time and on such conditions as are determined
by the Committee. 
 5.7 Limitations on Exercise. The Committee may specify a reasonable minimum number of Shares that
may be purchased on any exercise of an Option, provided that such minimum number will not prevent Participant from exercising the Option for the full number of Shares for which it is then exercisable. 

5.8 Limitations on ISOs. The aggregate Fair Market Value (determined as of the date of grant) of Shares with respect to
which ISOs are exercisable for the first time by a Participant during any calendar year (under this Plan or under any other incentive stock option plan of the Company or any Parent or Subsidiary of the Company) will not exceed One Hundred Thousand
Dollars ($100,000). If the Fair Market Value of Shares on the date of grant with respect to which ISOs are exercisable for the first time by a Participant during any calendar year exceeds One Hundred Thousand Dollars ($100,000), then the Options for
the first One Hundred Thousand Dollars ($100,000) worth of Shares to become exercisable in such calendar year will be ISOs and the Options for the amount in excess of One Hundred Thousand Dollars ($100,000) that become exercisable in that calendar
year will be NQSOs. In the event that the Code or the regulations promulgated thereunder are amended after the Effective Date (as defined in Section 18 hereof) to provide for a different limit on the Fair Market Value of Shares permitted to be
subject to ISOs, then such different limit will be automatically incorporated herein and will apply to any Options granted after the effective date of such amendment. 

5.9 Modification, Extension or Renewal. The Committee may modify, extend or renew outstanding Options and authorize the
grant of new Options in substitution therefor, provided that any such action may not, without the written consent of a Participant, impair any of such Participant’s rights under any Option previously granted. Any outstanding ISO that is
modified, extended, renewed or otherwise altered will be treated in accordance with Section 424(h) of the Code. Subject to Section 5.10 hereof, the Committee may reduce the Exercise Price of outstanding Options without the consent of
Participants by a written notice to them; provided, however, that the Exercise Price may not be reduced below the minimum Exercise Price that would be permitted under Section 5.4 hereof for Options granted on the date the action is taken to
reduce the Exercise Price. 
 5.10 No Disqualification. Notwithstanding any other provision in this Plan, no term of
this Plan relating to ISOs will be interpreted, amended or altered, nor will any discretion or authority granted under this Plan be exercised, so as to disqualify this Plan under Section 422 of the Code or, without the consent of the
Participant, to disqualify any Participant’s ISO under Section 422 of the Code. In no event shall the total number of Shares issued (counting each reissuance of a Share that was previously issued and then forfeited or repurchased by the

  
 5 

 
Company as a separate issuance) under the Plan upon exercise of ISOs exceed 175,000,000 Shares (adjusted in proportion to any adjustments under Section 2.2 hereof) over the term of the Plan.

 6. RESTRICTED STOCK. A Restricted Stock Award is an offer by the Company to sell to an eligible person Shares that are
subject to certain specified restrictions. The Committee will determine to whom an offer will be made, the number of Shares the person may purchase, the Purchase Price, the restrictions to which the Shares will be subject, and all other terms and
conditions of the Restricted Stock Award, subject to the following: 
 6.1 Form of Restricted Stock Award. All
purchases under a Restricted Stock Award made pursuant to this Plan will be evidenced by an Award Agreement (“Restricted Stock Purchase Agreement”) that will be in such form (which need not be the same for each Participant)
as the Committee will from time to time approve, and will comply with and be subject to the terms and conditions of this Plan. The Restricted Stock Award will be accepted by the Participant’s execution and delivery of the Restricted Stock
Purchase Agreement and full payment for the Shares to the Company within thirty (30) days from the date the Restricted Stock Purchase Agreement is delivered to the person. If such person does not execute and deliver the Restricted Stock Purchase
Agreement along with full payment for the Shares to the Company within such thirty (30) days, then the offer will terminate, unless otherwise determined by the Committee. 

6.2 Purchase Price. The Purchase Price of Shares sold pursuant to a Restricted Stock Award will be determined by the
Committee and will be at least eighty-five percent (85%) of the Fair Market Value of the Shares on the date the Restricted Stock Award is granted or at the time the purchase is consummated, except in the case of a sale to a Ten Percent
Shareholder, in which case the Purchase Price will be one hundred percent (100%) of the Fair Market Value on the date the Restricted Stock Award is granted or at the time the purchase is consummated. Payment of the Purchase Price must be made
in accordance with Section 7 hereof. 
 6.3 Restrictions. Restricted Stock Awards may be subject to the
restrictions set forth in Section 11 hereof or such other restrictions not inconsistent with Section 25102(o) of the California Corporations Code. 

7. PAYMENT FOR SHARE PURCHASES. 

7.1 Payment. Payment for Shares purchased pursuant to this Plan may be made in cash (by check) or, where expressly
approved for the Participant by the Committee and where permitted by law: 
  

	 	(a)	by cancellation of indebtedness of the Company owed to the Participant; 

  

	 	(b)	by surrender of shares that: (i) either (A) have been owned by Participant for more than six (6) months and have been paid for within the meaning of SEC Rule 144 (and, if such shares were purchased
from the Company by use of a promissory note, such note has been fully paid with respect to such shares) or (B) were obtained by Participant in the public market and (ii) are clear of all liens, claims, encumbrances or security interests;

  
 6 

	 	(c)	by tender of a full recourse promissory note having such terms as may be approved by the Committee and bearing interest at a rate sufficient to avoid (i) imputation of income under Sections 483 and 1274 of the
Code and (ii) variable accounting treatment under Financial Accounting Standards Board Interpretation No. 44 to APB No. 25; provided, however, that Participants who are not employees or directors of the Company will not be entitled to
purchase Shares with a promissory note unless the note is adequately secured by collateral other than the Shares; 

  

	 	(d)	by waiver of compensation due or accrued to the Participant from the Company for services rendered; 

  

	 	(e)	with respect only to purchases upon exercise of an Option, and provided that a public market for the Company’s stock exists: 

  

	 	(i)	through a “same day sale” commitment from the Participant and a broker-dealer that is a member of the National Association of Securities Dealers (an “NASD Dealer”) whereby the
Participant irrevocably elects to exercise the Option and to sell a portion of the Shares so purchased sufficient to pay the total Exercise Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the total
Exercise Price directly to the Company; or 

  

	 	(ii)	through a “margin” commitment from the Participant and an NASD Dealer whereby the Participant irrevocably elects to exercise the Option and to pledge the Shares so purchased to the NASD Dealer in a margin
account as security for a loan from the NASD Dealer in the amount of the total Exercise Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the total Exercise Price directly to the Company; or

  

	 	(f)	by any combination of the foregoing. 

 7.2 Loan Guarantees. The Committee
may, in its sole discretion, elect to assist the Participant in paying for Shares purchased under this Plan by authorizing a guarantee by the Company of a third-party loan to the Participant. 

8. WITHHOLDING TAXES. 

8.1 Withholding Generally. Whenever Shares are to be issued in satisfaction of Awards granted under this Plan, the
Company may require the Participant to remit to the Company an amount sufficient to satisfy federal, state and local withholding tax requirements prior to the delivery of any certificate or certificates for such Shares. Whenever, under this Plan,
payments in satisfaction of Awards are to be made in cash by the Company, such payment will be net of an amount sufficient to satisfy federal, state, and local withholding tax requirements. 

  
 7 

 8.2 Stock Withholding. When, under applicable tax laws, a Participant incurs
tax liability in connection with the exercise or vesting of any Award that is subject to tax withholding and the Participant is obligated to pay the Company the amount required to be withheld, the Committee may in its sole discretion allow the
Participant to satisfy the minimum withholding tax obligation by electing to have the Company withhold from the Shares to be issued that minimum number of Shares having a Fair Market Value equal to the minimum amount required to be withheld,
determined on the date that the amount of tax to be withheld is to be determined; but in no event will the Company withhold Shares if such withholding would result in adverse accounting consequences to the Company. All elections by a Participant to
have Shares withheld for this purpose will be made in accordance with the requirements established by the Committee for such elections and be in writing in a form acceptable to the Committee. 

9. PRIVILEGES OF STOCK OWNERSHIP. 

9.1 Voting and Dividends. No Participant will have any of the rights of a shareholder with respect to any Shares until
the Shares are issued to the Participant. After Shares are issued to the Participant, the Participant will be a shareholder and have all the rights of a shareholder with respect to such Shares, including the right to vote and receive all dividends
or other distributions made or paid with respect to such Shares; provided, that if such Shares are Restricted Stock, then any new, additional or different securities the Participant may become entitled to receive with respect to such Shares by
virtue of a stock dividend, stock split or any other change in the corporate or capital structure of the Company will be subject to the same restrictions as the Restricted Stock. The Participant will have no right to retain such stock dividends or
stock distributions with respect to Unvested Shares that are repurchased pursuant to Section 11 hereof. To the extent required, the Company will comply with Section 260.140.1 of Title 10 of the California Code of Regulations with
respect to the voting rights of Common Stock. 
 9.2 Financial Statements. The Company will provide financial
statements to each Participant annually during the period such Participant has Awards outstanding, or as otherwise required under Section 260.140.46 of Title 10 of the California Code of Regulations. Notwithstanding the foregoing, the
Company will not be required to provide such financial statements to Participants when issuance of Awards is limited to key employees whose services in connection with the Company assure them access to equivalent information. 

10. TRANSFERABILITY. Except as permitted by the Committee, Awards granted under this Plan, and any interest therein, will not be
transferable or assignable by Participant, other than by will or by the laws of descent and distribution, and, with respect to NQSOs, by instrument to an inter vivos or testamentary trust in which the options are to be passed to beneficiaries upon
the death of the trustor (settlor), or by gift to “immediate family” as that term is defined in 17 C.F.R. 240.16a-1(e), and may not be made subject to execution, attachment or similar process. During
the lifetime of the Participant an Award will be exercisable only by the Participant or Participant’s legal representative and any elections with respect to an Award may be made only by the Participant or Participant’s legal
representative. 

  
 8 

 11. RESTRICTIONS ON SHARES. 

11.1 Right of First Refusal. At the discretion of the Committee, the Company may reserve to itself and/or its assignee(s)
in the Award Agreement a right of first refusal to purchase all Shares that a Participant (or a subsequent transferee) may propose to transfer to a third party, unless otherwise not permitted by Section 25102(o) of the California Corporations
Code, provided that such right of first refusal terminates upon the Company’s initial public offering of Common Stock pursuant to an effective registration statement filed under the Securities Act. 

11.2 Right of Repurchase. At the discretion of the Committee, the Company may reserve to itself and/or its assignee(s) in
the Award Agreement a right to repurchase Unvested Shares held by a Participant, at the lower of (i) the Exercise Price or Purchase Price, as applicable and (ii) the fair market value of the Unvested Shares as of the date of
Participant’s termination, for cash and/or cancellation of purchase money indebtedness owed to the Company by the Participant following such Participant’s Termination at any time within the later of ninety (90) days after the
Participant’s Termination Date and the date the Participant purchases Shares under the Plan at the Participant’s Exercise Price or Purchase Price, as the case may be, provided that to the extent Section 25102(o) of the California
Corporations Code is intended to apply, unless the Participant is an officer, director or consultant of the Company or of a Parent or Subsidiary of the Company, such right of repurchase lapses at the rate of no less than twenty percent
(20%) per year over five (5) years from: (a) the date of grant of the Option or (b) in the case of Restricted Stock, the date the Participant purchases the Shares. 

12. CERTIFICATES. All certificates for Shares or other securities delivered under this Plan will be subject to such stock
transfer orders, legends and other restrictions as the Committee may deem necessary or advisable, including restrictions under any applicable federal, state or foreign securities law, or any rules, regulations and other requirements of the SEC or
any stock exchange or automated quotation system upon which the Shares may be listed or quoted. 
 13. ESCROW; PLEDGE OF
SHARES. To enforce any restrictions on a Participant’s Shares set forth in Section 11 hereof, the Committee may require the Participant to deposit all certificates representing Shares, together with stock powers or other instruments of
transfer approved by the Committee, appropriately endorsed in blank, with the Company or an agent designated by the Company to hold in escrow until such restrictions have lapsed or terminated. The Committee may cause a legend or legends referencing
such restrictions to be placed on the certificates. Any Participant who is permitted to execute a promissory note as partial or full consideration for the purchase of Shares under this Plan will be required to pledge and deposit with the Company all
or part of the Shares so purchased as collateral to secure the payment of Participant’s obligation to the Company under the promissory note; provided, however, that the Committee may require or accept other or additional forms of collateral to
secure the payment of such obligation and, in any event, the Company will have full recourse against the Participant under the promissory note notwithstanding any pledge of the Participant’s Shares or other collateral. In connection with any
pledge of the Shares, Participant will be required to execute and deliver a written pledge agreement in such form as the Committee will from time to time approve. The Shares purchased with the promissory note may be released from the pledge on a pro
rata basis as the promissory note is paid. 

  
 9 

 14. EXCHANGE AND BUYOUT OF AWARDS. The Committee may, at any time or from time to
time, authorize the Company, with the consent of the respective Participants, to issue new Awards in exchange for the surrender and cancellation of any or all outstanding Awards. The Committee may at any time buy from a Participant an Award
previously granted with payment in cash, shares of Common Stock of the Company (including Restricted Stock) or other consideration, based on such terms and conditions as the Committee and the Participant may agree. 

15. SECURITIES LAW AND OTHER REGULATORY COMPLIANCE. Although this Plan is intended to be a written compensatory benefit plan
within the meaning of Rule 701 promulgated under the Securities Act, grants may be made pursuant to this plan which do not qualify for exemption under Rule 701 or Section 25102(o) of the California Corporations Code. Any requirement of
this Plan which is required in law only because of Section 25102(o) need not apply if the Committee so provides. An Award will not be effective unless such Award is in compliance with all applicable federal and state securities laws, rules and
regulations of any governmental body, and the requirements of any stock exchange or automated quotation system upon which the Shares may then be listed or quoted, as they are in effect on the date of grant of the Award and also on the date of
exercise or other issuance. Notwithstanding any other provision in this Plan, the Company will have no obligation to issue or deliver certificates for Shares under this Plan prior to (i) obtaining any approvals from governmental agencies that
the Company determines are necessary or advisable, and/or (ii) compliance with any exemption, completion of any registration or other qualification of such Shares under any state or federal law or ruling of any governmental body that the
Company determines to be necessary or advisable. The Company will be under no obligation to register the Shares with the SEC or to effect compliance with the exemption, registration, qualification or listing requirements of any state securities
laws, stock exchange or automated quotation system, and the Company will have no liability for any inability or failure to do so. 
 16.
NO OBLIGATION TO EMPLOY. Nothing in this Plan or any Award granted under this Plan will confer or be deemed to confer on any Participant any right to continue in the employ of, or to continue any other relationship with, the Company or
any Parent or Subsidiary of the Company or limit in any way the right of the Company or any Parent or Subsidiary of the Company to terminate Participant’s employment or other relationship at any time, with or without Cause. 

17. CORPORATE TRANSACTIONS. 

17.1 Assumption or Replacement of Awards by Successor or Acquiring Company. In the event of (i) a dissolution or
liquidation of the Company, (ii) any reorganization, consolidation, merger or similar transaction or series of related transactions (each, a “combination transaction”) in which the Company is a constituent corporation or is a
party if, as a result of such combination transaction, the voting securities of the Company that are outstanding immediately prior to the consummation of such combination transaction (other than any such securities that are held by an
“Acquiring Shareholder”, as defined below) do not represent, or are not converted into, securities of the surviving corporation of such combination transaction (or such surviving corporation’s parent corporation if the surviving
corporation is owned by the parent corporation) that, immediately after the consummation of such combination transaction, together possess at least a majority of the total voting power of all securities of such surviving corporation (or its parent
corporation, if applicable) that are outstanding immediately 

  
 10 

 
after the consummation of such combination transaction, including securities of such surviving corporation (or its parent corporation, if applicable) that are held by the Acquiring Shareholder;
or (iii) a sale of all or substantially all of the assets of the Company, that is followed by the distribution of the proceeds to the Company’s shareholders, any or all outstanding Awards may be assumed, converted or replaced by the
successor or acquiring corporation (if any), which assumption, conversion or replacement will be binding on all Participants. In the alternative, the successor or acquiring corporation may substitute equivalent Awards or provide substantially
similar consideration to Participants as was provided to shareholders of the Company (after taking into account the existing provisions of the Awards). The successor or acquiring corporation may also substitute by issuing, in place of outstanding
Shares of the Company held by the Participant, substantially similar shares or other property subject to repurchase restrictions and other provisions no less favorable to the Participant than those which applied to such outstanding Shares
immediately prior to such transaction described in this Section 17.1. For purposes of this Section 17.1, an “Acquiring Shareholder” means a shareholder or shareholders of the Company that (i) merges or combines
with the Company in such combination transaction, or (ii) owns or controls a majority of another corporation that merges or combines with the Corporation in such combination transaction. In the event such successor or acquiring corporation
(if any) refuses to assume, convert, replace or substitute Awards, as provided above, pursuant to a transaction described in this Section 17.1, then notwithstanding any other provision in this Plan to the contrary, such Awards will expire on
such transaction at such time and on such conditions as the Board will determine. 
 17.2 Other Treatment of Awards. Subject
to any greater rights granted to Participants under the foregoing provisions of this Section 17, in the event of the occurrence of any transaction described in Section 17.1 hereof, any outstanding Awards will be treated as provided in the
applicable agreement or plan of reorganization, merger, consolidation, dissolution, liquidation or sale of assets. 
 17.3 Assumption
of Awards by the Company. The Company, from time to time, also may substitute or assume outstanding awards granted by another company, whether in connection with an acquisition of such other company or otherwise, by either (i) granting
an Award under this Plan in substitution of such other company’s award or (ii) assuming such award as if it had been granted under this Plan if the terms of such assumed award could be applied to an Award granted under this Plan. Such
substitution or assumption will be permissible if the holder of the substituted or assumed award would have been eligible to be granted an Award under this Plan if the other company had applied the rules of this Plan to such grant. In the event the
Company assumes an award granted by another company, the terms and conditions of such award will remain unchanged (except that the exercise price and the number and nature of shares issuable upon exercise of any such option will be adjusted
appropriately pursuant to Section 424(a) of the Code). In the event the Company elects to grant a new Option rather than assuming an existing option, such new Option may be granted with a similarly adjusted Exercise Price. 

18. ADOPTION AND SHAREHOLDER APPROVAL. This Plan will become effective on the date that it is adopted by the Board
(the “Effective Date”). This Plan will be approved by the shareholders of the Company (excluding Shares issued pursuant to this Plan), consistent with applicable laws, within twelve (12) months before or after the
Effective Date. Upon the Effective Date, the Board may grant Awards pursuant to this Plan; provided, however, that: (i) no Option may be exercised prior to initial shareholder approval of this Plan; (ii) no

  
 11 

 
Option granted pursuant to an increase in the number of Shares approved by the Board shall be exercised prior to the time such increase has been approved by the shareholders of the Company;
(iii) initial shareholder approval is not obtained within the time period provided herein, all Awards granted hereunder shall be canceled, any Shares issued pursuant to any Award shall be canceled and any purchase of Shares issued hereunder
shall be rescinded; and (iv) Awards granted pursuant to an increase in the number of Shares approved by the Board which increase is not timely approved by shareholders shall be canceled, any Shares issued pursuant to any such Awards shall be
canceled, and any purchase of Shares subject to any such Award shall be rescinded. 
 19. TERM OF PLAN/GOVERNING LAW. Unless
earlier terminated as provided herein, this Plan will terminate ten (10) years from the Effective Date or, if earlier, the date of shareholder approval. This Plan and all agreements hereunder shall be governed by and construed in accordance
with the laws of the State of California. 
 20. AMENDMENT OR TERMINATION OF PLAN. Subject to Section 5.9 hereof,
the Board may at any time terminate or amend this Plan in any respect, including without limitation amendment of any form of Award Agreement or instrument to be executed pursuant to this Plan; provided, however, that the Board will not, without the
approval of the shareholders of the Company, amend this Plan in any manner that requires such shareholder approval pursuant to Section 25102(o) of the California Corporations Code or the Code or the regulations promulgated thereunder as such
provisions apply to ISO plans. 
 21. NONEXCLUSIVITY OF THE PLAN. Neither the adoption of this Plan by the Board, the
submission of this Plan to the shareholders of the Company for approval, nor any provision of this Plan will be construed as creating any limitations on the power of the Board to adopt such additional compensation arrangements as it may deem
desirable, including, without limitation, the granting of stock options and other equity awards otherwise than under this Plan, and such arrangements may be either generally applicable or applicable only in specific cases. 

22. DEFINITIONS. As used in this Plan, the following terms will have the following meanings: 

“Award” means any award under this Plan, including any Option or Restricted Stock Award. 

“Award Agreement” means, with respect to each Award, the signed written agreement between the Company and the
Participant setting forth the terms and conditions of the Award, including the Stock Option Agreement and Restricted Stock Agreement. 

“Board” means the Board of Directors of the Company. 

“Cause” means Termination because of (i) any willful, material violation by the Participant of any law or
regulation applicable to the business of the Company or a Parent or Subsidiary of the Company, the Participant’s conviction for, or guilty plea to, a felony or a crime involving moral turpitude, or any willful perpetration by the Participant of
a common law fraud, (ii) the Participant’s commission of an act of personal dishonesty which involves personal profit in connection with the Company or any other entity having a business relationship with the Company, (iii) any
material breach by the Participant of any provision of any agreement or understanding between the Company or any Parent or Subsidiary of the Company and the 

  
 12 

 
Participant regarding the terms of the Participant’s service as an employee, officer, director or consultant to the Company or a Parent or Subsidiary of the Company, including without
limitation, the willful and continued failure or refusal of the Participant to perform the material duties required of such Participant as an employee, officer, director or consultant of the Company or a Parent or Subsidiary of the Company, other
than as a result of having a Disability, or a breach of any applicable invention assignment and confidentiality agreement or similar agreement between the Company or a Parent or Subsidiary of the Company and the Participant,
(iv) Participant’s disregard of the policies of the Company or any Parent or Subsidiary of the Company so as to cause loss, damage or injury to the property, reputation or employees of the Company or a Parent or Subsidiary of the Company,
or (v) any other misconduct by the Participant which is materially injurious to the financial condition or business reputation of, or is otherwise materially injurious to, the Company or a Parent or Subsidiary of the Company. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Committee” means the committee created and appointed by the Board to administer this Plan, or if no committee is
created and appointed, the Board. 
 “Company” means Adesto Technologies Corporation or any successor corporation.

 “Disability” means a disability, whether temporary or permanent, partial or total, as determined by the
Committee. 
 “Exercise Price” means the price at which a holder of an Option may purchase the Shares issuable upon
exercise of the Option. 
 “Fair Market Value” means, as of any date, the value of a share of the Company’s
Common Stock determined as follows: 
  

	 	(a)	if such Common Stock is then quoted on the Nasdaq Global Market, its closing price on the Nasdaq Global Market on the date of determination as reported in The Wall Street Journal; 

 

	 	(b)	if such Common Stock is publicly traded and is then listed on a national securities exchange, its closing price on the date of determination on the principal national securities exchange on which the Common Stock is
listed or admitted to trading as reported in The Wall Street Journal; 

  

	 	(c)	if such Common Stock is publicly traded but is not quoted on the Nasdaq Global Market nor listed or admitted to trading on a national securities exchange, the average of the closing bid and asked prices on the date of
determination as reported by The Wall Street Journal (or, if not so reported, as otherwise reported by any newspaper or other source as the Board may determine); or 

 

	 	(d)	if none of the foregoing is applicable, by the Committee in good faith. 

  
 13 

 “Option” means an award of an option to purchase Shares pursuant to
Section 5 hereof. 
 “Parent” means any corporation (other than the Company) in an unbroken chain of
corporations ending with the Company if each of such corporations other than the Company owns stock representing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such
chain. 
 “Participant” means a person who receives an Award under this Plan. 

“Plan” means this Adesto Technologies Corporation 2007 Equity Incentive Plan, as amended from time to time. 

“Purchase Price” means the price at which a Participant may purchase Restricted Stock. 

“Restricted Stock” means Shares purchased pursuant to a Restricted Stock Award. 

“Restricted Stock Award” means an award of Shares pursuant to Section 6 hereof. 

“SEC” means the Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Shares” means shares of the Company’s Common Stock reserved for issuance under this Plan, as adjusted pursuant
to Sections 2 and 17 hereof, and any successor security. 
 “Subsidiary” means any corporation (other than the
Company) in an unbroken chain of corporations beginning with the Company if each of the corporations other than the last corporation in the unbroken chain owns stock representing fifty percent (50%) or more of the total combined voting power of
all classes of stock in one of the other corporations in such chain. 
 “Termination” or
“Terminated” means, for purposes of this Plan with respect to a Participant, that the Participant has for any reason ceased to provide services as an employee, officer, director or consultant to the Company or a Parent or
Subsidiary of the Company. A Participant will not be deemed to have ceased to provide services in the case of (i) sick leave, (ii) military leave, or (iii) any other leave of absence approved by the Committee, provided that such leave
is for a period of not more than ninety (90) days (a) unless reinstatement (or, in the case of an employee with an ISO, reemployment) upon the expiration of such leave is guaranteed by contract or statute, or (b) unless provided
otherwise pursuant to formal policy adopted from time to time by the Company’s Board and issued and promulgated in writing. In the case of any Participant on (i) sick leave, (ii) military leave or (iii) an approved leave of
absence, the Committee may make such provisions respecting suspension of vesting of the Award while on leave from the Company or a Parent or Subsidiary of the Company as it may deem appropriate, except that in no event may an Option be exercised
after the expiration of the term set forth in the Stock Option Agreement. The Committee will have sole discretion to determine whether a Participant has ceased to provide services and the effective date on which the Participant ceased to provide
services (the “Termination Date”). 

  
 14 

 “Unvested Shares” means “Unvested Shares” as
defined in the Award Agreement. 
 “Vested Shares” means “Vested Shares” as defined in the
Award Agreement. 
 [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK] 

  
 15 

 No.              

ADESTO TECHNOLOGIES CORPORATION, INC. 

2007 EQUITY INCENTIVE PLAN 

STOCK OPTION AGREEMENT 

This Stock Option Agreement (the “Agreement”) is made and entered into as of the date of grant set forth below (the
“Date of Grant”) by and between Adesto Technologies Corporation, Inc., a California corporation (the “Company”), and the participant named below (the “Participant”). Capitalized
terms not defined herein shall have the meaning ascribed to them in the Company’s 2007 Equity Incentive Plan, as amended (the “Plan”). 
  

					
	Participant:		  
		
			
	Social Security Number:		  
		
			
	Address:		  
		
			
			  
		
			
	Total Option Shares:		  
		
			
	Exercise Price Per Share:		  
		
			
	Date of Grant:		  
		
			
	First Vesting Date:		  
		
			
	Expiration Date:		  
		
			(unless earlier terminated under Section 5.6 of the Plan)
			
	Classification of Optionee		 ̈ Exempt Employee		
			 ̈ Nonexempt Employee		
	Type of Stock Option				
	(Check one):		 ̈ Incentive Stock Option		
			 ̈ Nonqualified Stock Option		

 1. Grant of Option. The Company hereby grants to Participant an option (this
“Option”) to purchase the total number of shares of Common Stock of the Company set forth above as Total Option Shares (the “Shares”) at the Exercise Price Per Share set forth above (the
“Exercise Price”), subject to all of the terms and conditions of this Agreement and the Plan. If designated as an Incentive Stock Option above, the Option is intended to qualify as an “incentive stock option” (an
“ISO”) within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). 

2. Exercise Period. 

2.1 Exercise Period of Option. This Option is immediately exercisable although the Shares issued upon exercise of the Option will be
subject to the restrictions on transfer and Repurchase Options set forth in Sections 7, 8 and 9 below. Provided Participant continues to provide services to the Company or to any Parent or Subsidiary of the Company, the Shares issuable upon exercise
of this Option will become vested with respect to 25% of the 

  
 16 

 
Shares on the First Vesting Date set forth on the first page of this Agreement (the “First Vesting Date”) and thereafter at the end of each full succeeding month after the
First Vesting Date an additional 2.0833% of the Shares will become vested until the Shares are vested with respect to one hundred percent (100%) of the Shares. If application of the vesting percentage causes a fractional share, such share shall
be rounded down to the nearest whole share for each month except for the last month in such vesting period, at the end of which last month this Option shall become vested for the full remainder of the Shares. Unvested Shares may not be sold or
otherwise transferred by Participant without the Company’s prior written consent. Notwithstanding any provision in the Plan or this Agreement to the contrary, Options for Unvested Shares (as defined in Section 2.2 of this Agreement) will
not be exercisable on or after Participant’s Termination Date. 
 2.2 Vesting of Options. Shares that are vested pursuant to the
schedule set forth in Section 2.1 are “Vested Shares.” Shares that are not vested pursuant to the schedule set forth in Section 2.1 are “Unvested Shares.” 

2.3 Expiration. The Option shall expire on the Expiration Date set forth above or earlier as provided in Section 3 below or
pursuant to Section 5.6 of the Plan. 
 3. Termination. 

3.1 Termination for Any Reason Except Death, Disability or Cause. If Participant is Terminated for any reason, except death, Disability
or for Cause, the Option, to the extent (and only to the extent) that it would have been exercisable by Participant on the Termination Date, may be exercised by Participant no later than three (3) months after the Termination Date or at a later
date if the Committee so determines, but in any event no later than the Expiration Date. Any exercise more than three (3) months after Participant’s Termination is deemed to be an NQSO. 

3.2 Termination Because of Death or Disability. If Participant is Terminated because of death or Disability of Participant (or
Participant dies within three (3) months of Termination when Termination is for any reason other than Participant’s Disability or for Cause), the Option, to the extent that it is exercisable by Participant on the Termination Date, may be
exercised by Participant (or Participant’s legal representative) no later than twelve (12) months after the Termination Date, but in any event no later than the Expiration Date. Any exercise beyond (i) three (3) months after the
Termination Date when the Termination is for any reason other than the Participant’s death or disability, within the meaning of Section 22(e)(3) of the Code; or (ii) twelve (12) months after the Termination Date when the
termination is for Participant’s disability, within the meaning of Section 22(e)(3) of the Code, is deemed to be an NQSO. 
 3.3
Termination for Cause. If the Participant is terminated for Cause, the Participant may exercise such Participant’s Options, but not to an extent greater than such Options are exercisable as to Vested Shares upon the Termination Date and
Participant’s Options shall expire on such Participant’s Termination Date, or at such later time and on such conditions as are determined by the Committee. 

3.4 No Obligation to Employ. Nothing in the Plan or this Agreement shall confer on Participant any right to continue in the employ of,
or other relationship with, the Company or any Parent or Subsidiary of the Company, or limit in any way the right of the Company or any Parent or Subsidiary of the Company to terminate Participant’s employment or other relationship at any time,
with or without Cause. 

  
 17 

 4. Manner of Exercise. 

4.1 Stock Option Exercise Agreement. To exercise this Option, Participant (or in the case of exercise after Participant’s
death or incapacity, Participant’s executor, administrator, heir or legatee, as the case may be) must deliver to the Company an executed stock option exercise agreement in the form attached hereto as Exhibit A, or in such other form as
may be approved by the Committee from time to time (the “Exercise Agreement”), which shall set forth, inter alia, (i) Participant’s election to exercise the Option, (ii) the number of Shares being
purchased, (iii) any restrictions imposed on the Shares and (iv) any representations, warranties and agreements regarding Participant’s investment intent and access to information as may be required by the Company to comply with
applicable securities laws. If someone other than Participant exercises the Option, then such person must submit documentation reasonably acceptable to the Company verifying that such person has the legal right to exercise the Option and such person
shall be subject to all of the restrictions contained herein as if such person were the Participant. 
 4.2 Limitations on Exercise.
The Option may not be exercised unless such exercise is in compliance with all applicable federal and state securities laws, as they are in effect on the date of exercise. The Option may not be exercised as to fewer than one hundred
(100) Shares unless it is exercised as to all Shares as to which the Option is then exercisable. 
 4.3 Payment. The Exercise
Agreement shall be accompanied by full payment of the Exercise Price for the shares being purchased in cash (by check), or where permitted by law: 
  

	 	(a)	by cancellation of indebtedness of the Company to the Participant; 

  

	 	(b)	by surrender of shares of the Company’s Common Stock that (i) either (A) have been owned by Participant for more than six (6) months and have been paid for within the meaning of SEC Rule 144 (and, if
such shares were purchased from the Company by use of a promissory note, such note has been fully paid with respect to such shares); or (B) were obtained by Participant in the open public market; and (ii) are clear of all liens, claims,
encumbrances or security interests; 

  

	 	(c)	by tender of a full recourse promissory note having such terms as may be approved by the Committee and bearing interest at a rate sufficient to avoid (i) imputation of income under Sections 483 and 1274 of the
Code and (ii) variable accounting treatment under Financial Accounting Standards Board Interpretation No. 44 to APB No. 25; provided, however, that Participants who are not employees or directors of the Company shall not be entitled
to purchase Shares with a promissory note unless the note is adequately secured by collateral other than the Shares; 

  
 18 

	 	(d)	by waiver of compensation due or accrued to Participant for services rendered; 

  

	 	(e)	provided that a public market for the Company’s stock exists: (i) through a “same day sale” commitment from Participant and a broker-dealer that is a member of the National Association of Securities
Dealers (an “NASD Dealer”) whereby Participant irrevocably elects to exercise the Option and to sell a portion of the Shares so purchased sufficient to pay for the total Exercise Price and whereby the NASD Dealer irrevocably
commits upon receipt of such Shares to forward the total Exercise Price directly to the Company, or (ii) through a “margin” commitment from Participant and an NASD Dealer whereby Participant irrevocably elects to exercise the Option
and to pledge the Shares so purchased to the NASD Dealer in a margin account as security for a loan from the NASD Dealer in the amount of the total Exercise Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to
forward the total Exercise Price directly to the Company; or 

  

	 	(f)	any other form of consideration approved by the Committee; or 

  

	 	(g)	by any combination of the foregoing. 

 4.4 Tax Withholding. Prior to the issuance of the
Shares upon exercise of the Option, Participant must pay or provide for any applicable federal, state and local withholding obligations of the Company. If the Committee permits, Participant may provide for payment of withholding taxes upon exercise
of the Option by requesting that the Company retain the minimum number of Shares with a Fair Market Value equal to the minimum amount of taxes required to be withheld; but in no event will the Company withhold Shares if such withholding would result
in adverse accounting consequences to the Company. In such case, the Company shall issue the net number of Shares to the Participant by deducting the Shares retained from the Shares issuable upon exercise. 

4.5 Issuance of Shares. Provided that the Exercise Agreement and payment are in form and substance satisfactory to counsel for the
Company, the Company shall issue the Shares registered in the name of Participant, Participant’s authorized assignee, or Participant’s legal representative, and shall deliver certificates representing the Shares with the appropriate
legends affixed thereto. 
 5. Notice of Disqualifying Disposition of ISO Shares. If the Option is an ISO, and if Participant
sells or otherwise disposes of any of the Shares acquired pursuant to the ISO on or before the later of (i) the date two (2) years after the Date of Grant, and (ii) the date one (1) year after transfer of such Shares to
Participant upon exercise of the Option, Participant shall immediately notify the Company in writing of such disposition. Participant agrees that Participant may be subject to income tax withholding by the Company on the compensation income
recognized by Participant from the early disposition by payment in cash or out of the current wages or other compensation payable to Participant. 

  
 19 

 6. Compliance with Laws and Regulations. The Plan and this Agreement are intended
to comply with Section 25102(o) of the California Corporations Code and any regulations relating thereto. Any provision of this Agreement which is inconsistent with Section 25102(o) or any regulations relating thereto shall, without
further act or amendment by the Company or the Board, be reformed to comply with the requirements of Section 25102(o) and any regulations relating thereto. The exercise of the Option and the issuance and transfer of Shares shall be subject to
compliance by the Company and Participant with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company’s Common Stock may be listed at the time of such
issuance or transfer. Participant understands that the Company is under no obligation to register or qualify the Shares with the SEC, any state securities commission or any stock exchange to effect such compliance. 

7. Nontransferability of Option. The Option may not be transferred in any manner other than by will or by the laws of descent
and distribution, and, with respect to NQSOs, by instrument to an inter vivos or testamentary trust in which the options are to be passed to beneficiaries upon the death of the trustor (settlor), or by gift to “immediate family” as that
term is defined in 17 C.F.R. 240.16a-1(e), and may be exercised during the lifetime of Participant only by Participant or in the event of Participant’s incapacity, by Participant’s legal representative. The terms of the Option shall be
binding upon the executors, administrators, successors and assigns of Participant. 
 8. Company’s Repurchase Option for Unvested
Shares. The Company, or its assignee, shall have the option to repurchase Participant’s Unvested Shares (as defined in Section 2.2 of this Agreement) on the terms and conditions set forth in the Exercise Agreement (the
“Repurchase Option”) if Participant is Terminated for any reason, or no reason, including without limitation Participant’s death, Disability, voluntary resignation or termination by the Company with or without Cause.
Notwithstanding the foregoing, the Company shall retain the Repurchase Option for Unvested Shares only as to that number of Unvested Shares (whether or not exercised) that exceeds the number of shares which remain unexercised. 

9. Company’s Right of First Refusal. Unvested Shares may not be sold or otherwise transferred by Participant without the
Company’s prior written consent. Before any Vested Shares held by Participant or any transferee of such Vested Shares may be sold or otherwise transferred (including without limitation a transfer by gift or operation of law), the Company and/or
its assignee(s) shall have an assignable right of first refusal to purchase the Vested Shares to be sold or transferred on the terms and conditions set forth in the Exercise Agreement (the “Right of First Refusal”). The
Company’s Right of First Refusal will terminate when the Company’s securities become publicly traded. 
 10. Tax
Consequences. Set forth below is a brief summary as of the Effective Date of the Plan of some of the federal and California tax consequences of exercise of the Option and disposition of the Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND
THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. PARTICIPANT SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THE OPTION OR DISPOSING OF THE SHARES. 

10.1 Exercise of ISO. If the Option qualifies as an ISO, there will be no regular federal or California income tax liability upon the
exercise of the Option, although the excess, if 

  
 20 

 
any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price will be treated as a tax preference item for federal alternative minimum tax purposes and may subject
the Participant to the alternative minimum tax in the year of exercise. 
 10.2 Exercise of Nonqualified Stock Option. If the Option
does not qualify as an ISO, there may be a regular federal and California income tax liability upon the exercise of the Option. Participant will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the
excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price. If Participant is a current or former employee of the Company, the Company may be required to withhold from Participant’s compensation or
collect from Participant and pay to the applicable taxing authorities an amount equal to a percentage of this compensation income at the time of exercise. 

10.3 Disposition of Shares. The following tax consequences may apply upon disposition of the Shares. 

(a) Incentive Stock Options. If the Shares are held for more than twelve (12) months after the date of purchase of the Shares
pursuant to the exercise of an ISO and are disposed of more than two (2) years after the Date of Grant, any gain realized on disposition of the Shares will be treated as long term capital gain for federal and California income tax purposes. If
Vested Shares purchased under an ISO are disposed of within the applicable one (1) year or two (2) year period, any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates in the year of
the disposition) to the extent of the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price. To the extent the Shares were exercised prior to vesting coincident with the filing of an 83(b) Election,
the amount taxed because of a disqualifying disposition will be based upon the excess, if any, of the fair market value on the date of vesting over the exercise price. 

(b) Nonqualified Stock Options. If the Shares are held for more than twelve (12) months after the date of the transfer of the
Shares pursuant to the exercise of an NQSO, any gain realized on disposition of the Shares will be treated as long term capital gain. 

(c) Withholding. The Company may be required to withhold from the Participant’s compensation or collect from the Participant and
pay to the applicable taxing authorities an amount equal to a percentage of this compensation income. 
 10.4. Section 83(b)
Election for Unvested Shares. With respect to Unvested Shares, which are subject to the Repurchase Option, unless an election is filed by the Participant with the Internal Revenue Service (and, if necessary, the proper state taxing authorities),
within 30 days of the purchase of the Unvested Shares, electing pursuant to Section 83(b) of the Code (and similar state tax provisions, if applicable) to be taxed currently on any difference between the Exercise Price of the Unvested
Shares and their Fair Market Value on the date of purchase, there may be a recognition of taxable income (including, where applicable, alternative minimum taxable income) to the Participant, measured by the excess, if any, of the Fair Market Value
of the Unvested Shares at the time they cease to be Unvested Shares, over the Exercise Price of the Unvested Shares. 

  
 21 

 11. Privileges of Stock Ownership. Participant shall not have any of the rights of
a shareholder with respect to any Shares until the Shares are issued to Participant. 
 12. Interpretation. Any dispute
regarding the interpretation of this Agreement shall be submitted by Participant or the Company to the Committee for review. The resolution of such a dispute by the Committee shall be final and binding on the Company and Participant. 

13. Entire Agreement. The Plan is incorporated herein by reference. This Agreement and the Plan constitute the entire agreement
and understanding of the parties with respect to the subject matter of this Agreement, and supersede all prior understandings and agreements, whether oral or written, between or among the parties hereto with respect to the specific subject matter
hereof. 
 14. Notices. Any and all notices required or permitted to be given to a party pursuant to the provisions of this
Agreement will be in writing and will be effective and deemed to provide such party sufficient notice under this Agreement on the earliest of the following: (i) at the time of personal delivery, if delivery is in person; (ii) at the time
of transmission by facsimile, addressed to the other party at its facsimile number specified herein (or hereafter modified by subsequent notice to the parties hereto), with confirmation of receipt made by both telephone and printed confirmation
sheet verifying successful transmission of the facsimile; (iii) one (1) business day after deposit with an express overnight courier for United States deliveries, or two (2) business days after such deposit for deliveries outside of
the United States, with proof of delivery from the courier requested; or (iv) three (3) business days after deposit in the United States mail by certified mail (return receipt requested) for United States deliveries. 

All notices for delivery outside the United States will be sent by facsimile or by express courier. All notices not delivered personally or by
facsimile will be sent with postage and/or other charges prepaid and properly addressed to the party to be notified at the address or facsimile number set forth below the signature lines of this Agreement, or at such other address or facsimile
number as such other party may designate by one of the indicated means of notice herein to the other parties hereto. Notices to the Company will be marked “Attention: President”. Notices by facsimile shall be machine verified as received.

 15. Successors and Assigns. The Company may assign any of its rights under this Agreement including its rights to purchase
Shares under the Repurchase Option and the Right of First Refusal. No other party to this Agreement may assign, whether voluntarily or by operation of law, any of its rights and obligations under this Agreement, except with the prior written consent
of the Company. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement shall be binding upon Participant and
Participant’s heirs, executors, administrators, legal representatives, successors and assigns. 
 16. Governing Law. This
Agreement shall be governed by and construed in accordance with the laws of the State of California, without giving effect to that body of laws pertaining to conflict of laws. 

17. Acceptance. Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. Participant has read and
understands the terms and provisions thereof, and accepts the Option subject to all the terms and conditions of the Plan and this Agreement. 

  
 22 

 
Participant acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition of the Shares and that Participant should consult a tax adviser prior to such
exercise or disposition. 
 18. Further Assurances. The parties agree to execute such further documents and instruments and to
take such further actions as may be reasonably necessary to carry out the purposes and intent of this Agreement. 
 19. Titles and
Headings. The titles, captions and headings of this Agreement are included for ease of reference only and will be disregarded in interpreting or construing this Agreement. Unless otherwise specifically stated, all references herein to
“sections” and “exhibits” will mean “sections” and “exhibits” to this Agreement. 
 20.
Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered will be deemed an original, and all of which together shall constitute one and the same agreement. 

21. Severability. If any provision of this Agreement is determined by any court or arbitrator of competent jurisdiction to be
invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto. If such clause or provision cannot be so enforced, such provision shall be stricken from this
Agreement and the remainder of this Agreement shall be enforced as if such invalid, illegal or unenforceable clause or provision had (to the extent not enforceable) never been contained in this Agreement. Notwithstanding the forgoing, if the value
of this Agreement based upon the substantial benefit of the bargain for any party is materially impaired, which determination as made by the presiding court or arbitrator of competent jurisdiction shall be binding, then both parties agree to
substitute such provision(s) through good faith negotiations. 
 22. Facsimile Signatures. This Agreement may be executed and
delivered by facsimile and upon such delivery the facsimile signature will be deemed to have the same effect as if the original signature had been delivered to the other party. The failure to deliver the original signature copy and/or the nonreceipt
of the original signature copy shall have no effect upon the binding and enforceable nature of this Agreement. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

  
 23 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed in triplicate by
its duly authorized representative and Participant has executed this Agreement in triplicate, effective as of the Date of Grant. 
  

									
	 ADESTO TECHNOLOGIES

CORPORATION, INC.
				PARTICIPANT
				
	 By:
		  
				  

	 Name:
		  
				(Signature of Participant)
	 Title:
		  
				  

							(Print name of Participant)
	 Fax No.:
		  
				Address:		  

	 Tel No.:
		  
				  

							  

							Fax No.:		  

							Tel No.:		  

 [SIGNATURE PAGE TO ADESTO TECHNOLOGIES CORPORATION, INC. 

STOCK OPTION AGREEMENT] 

  
 24 

 EXHIBIT A 

FORM OF STOCK OPTION EXERCISE AGREEMENT 

 No.         

ADESTO TECHNOLOGIES CORPORATION, INC. 

2007 EQUITY INCENTIVE PLAN 

STOCK OPTION EXERCISE AGREEMENT 

This Stock Option Exercise Agreement (the “Exercise Agreement”) is made and entered into as of
                    ,             (the “Effective Date”) by and
between Adesto Technologies Corporation, Inc., a California corporation (the “Company”), and the purchaser named below (the “Purchaser”). Capitalized terms not defined herein shall have the meanings
ascribed to them in the Company’s 2007 Equity Incentive Plan, as amended (the “Plan”). 
  

			
	Purchaser:		  

		
			  

		
	Social Security Number:		  

		
	Address:		  

		
			  

		
	Total Number of Shares:		  

		
	Exercise Price Per Share:		  

		
	Date of Grant:		  

		
	First Vesting Date:		  

		
	Expiration Date:		  

			(Unless earlier terminated under Section 5.6 of the Plan)
		
	Type of Stock Option		
		
	(Check one):		 ̈  Incentive Stock Option
			 ̈  Nonqualified Stock Option

 1. Exercise of Option. 

1.1 Exercise. Pursuant to exercise of that certain option (the “Option”) granted to Purchaser under the Plan and
subject to the terms and conditions of this Exercise Agreement, Purchaser hereby purchases from the Company, and the Company hereby sells to Purchaser, the Total Number of Shares set forth above (the “Shares”) of the
Company’s Common Stock at the Exercise Price Per Share set forth above (the “Exercise Price”). As used in this Exercise Agreement, the term “Shares” refers to the Shares purchased under this
Exercise Agreement and includes all securities received (i) in replacement of the Shares, (ii) as a result of stock dividends or stock splits with respect to the Shares, and (iii) all securities received in replacement of the Shares
in a merger, recapitalization, reorganization or similar corporate transaction. 

  
 1 

 1.2 Title to Shares. The exact spelling of the name(s) under which Purchaser will take
title to the Shares is: 
  

                       
                                         
                                         
                                         
                   
  

                       
                                         
                                         
                                         
                   
 Purchaser desires to take
title to the Shares as follows: 
  ̈  Individual, as separate property 

 ̈  Husband and wife, as community property 

 ̈  Joint Tenants 

 ̈  Other; please
specify:                                       
                                         
                                         
    
 1.3 Payment. Purchaser hereby delivers payment of the Exercise Price in the manner permitted in the Stock
Option Agreement as follows (check and complete as appropriate): 
  

	 ̈	in cash (by check) in the amount of $        , receipt of which is acknowledged by the Company; 

 

	 ̈	by cancellation of indebtedness of the Company owed to Purchaser in the amount of $        ; 

 

	 ̈	by delivery of                     fully-paid, nonassessable and vested shares of the Common Stock of the Company owned
by Purchaser for at least six (6) months prior to the date hereof which have been paid for within the meaning of SEC Rule 144, (if purchased by use of a promissory note, such note has been fully paid with respect to such vested shares), or
obtained by Purchaser in the open public market, and owned free and clear of all liens, claims, encumbrances or security interests, valued at the current Fair Market Value of $        per share;

  

	 ̈	by tender of a full recourse promissory note in the principal amount of $        having such terms as may be approved by the Committee and bearing interest at a rate sufficient to
avoid (i) imputation of income under Sections 483 and 1274 of the Code and (ii) variable accounting treatment under Financial Accounting Standards Board Interpretation No. 44 to APB No. 25; provided, however, that Purchasers
who are not employees or directors of the Company shall not be entitled to purchase Shares with a promissory note unless the note is adequately secured by collateral other than the Shares; 

 

	 ̈	by the waiver hereby of compensation due or accrued for services rendered in the amount of $        . 

  
 2 

 2. Delivery. 

2.1 Deliveries by Purchaser. Purchaser hereby delivers to the Company (i) this Exercise Agreement, (ii) two (2) copies of
a blank Stock Power and Assignment Separate from Stock Certificate in the form of Exhibit 1 attached hereto (the “Stock Powers”), both executed by Purchaser (and Purchaser’s spouse, if any), (iii) a Consent
of Spouse in the form of Exhibit 2 attached hereto (the “Spouse Consent”) executed by Purchaser’s spouse, (iv) the Exercise Price and payment or other provision for any applicable tax obligations in the form
of a check, a copy of which is attached hereto as Exhibit 3, and (v) if applicable, a secured full recourse promissory note. 

2.2 Deliveries by the Company. Upon its receipt of the Exercise Price, payment or other provision for any applicable tax obligations
and all the documents to be executed and delivered by Purchaser to the Company under Section 2.1, the Company will issue a duly executed stock certificate evidencing the Shares in the name of Purchaser to be placed in escrow as provided in
Section 10 to secure payment of Purchaser’s obligation to the Company under the promissory note and until expiration or termination of the Company’s Right of First Refusal described in Sections 8, 9 and 10. 

3. Representations and Warranties of Purchaser. Purchaser represents and warrants to the Company that: 

3.1 Agrees to Terms of the Plan. Purchaser has received a copy of the Plan and the Stock Option Agreement, has read and understands the
terms of the Plan, the Stock Option Agreement and this Exercise Agreement, and agrees to be bound by their terms and conditions. Purchaser acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition of the
Shares, and that Purchaser should consult a tax adviser prior to such exercise or disposition. 
 3.2 Purchase for Own Account for
Investment. Purchaser is purchasing the Shares for Purchaser’s own account for investment purposes only and not with a view to, or for sale in connection with, a distribution of the Shares within the meaning of the Securities Act. Purchaser
has no present intention of selling or otherwise disposing of all or any portion of the Shares and no one other than Purchaser has any beneficial ownership of any of the Shares. 

3.3 Access to Information. Purchaser has had access to all information regarding the Company and its present and prospective business,
assets, liabilities and financial condition that Purchaser reasonably considers important in making the decision to purchase the Shares, and Purchaser has had ample opportunity to ask questions of the Company’s representatives concerning such
matters and this investment. 
 3.4 Understanding of Risks. Purchaser is fully aware of: (i) the highly speculative nature of
the investment in the Shares; (ii) the financial hazards involved; (iii) the lack of liquidity of the Shares and the restrictions on transferability of the Shares (e.g., that Purchaser may not be able to sell or dispose of the Shares or
use them as collateral for loans); (iv) the qualifications and backgrounds of the management of the Company; and (v) the tax consequences of investment in the Shares. Purchaser is capable of evaluating the merits and risks of this
investment, has the ability to protect Purchaser’s own interests in this transaction and is financially capable of bearing a total loss of this investment. 

  
 3 

 3.5 No General Solicitation. At no time was Purchaser presented with or solicited by any
publicly issued or circulated newspaper, mail, radio, television or other form of general advertising or solicitation in connection with the offer, sale and purchase of the Shares. 

4. Compliance with Securities Laws. 

4.1 Compliance with U.S. Federal Securities Laws. Purchaser understands and acknowledges that the Shares have not been registered with
the SEC under the Securities Act and that, notwithstanding any other provision of the Stock Option Agreement to the contrary, the exercise of any rights to purchase any Shares is expressly conditioned upon compliance with the Securities Act and all
applicable state securities laws. Purchaser agrees to cooperate with the Company to ensure compliance with such laws. 
 4.2 Compliance
with California Securities Laws. THE PLAN, THE STOCK OPTION AGREEMENT, AND THIS EXERCISE AGREEMENT ARE INTENDED TO COMPLY WITH SECTIONS 25102(o) AND/OR 25102(f) OF THE CALIFORNIA CORPORATIONS CODE AND ANY RULES (INCLUDING
COMMISSIONER RULES, IF APPLICABLE) OR REGULATIONS PROMULGATED THEREUNDER BY THE CALIFORNIA DEPARTMENT OF CORPORATIONS (THE “REGULATIONS”). ANY PROVISION OF THIS EXERCISE AGREEMENT THAT IS INCONSISTENT WITH
SECTIONS 25102(o) OR 25102(f) SHALL, WITHOUT FURTHER ACT OR AMENDMENT BY THE COMPANY OR THE BOARD, BE REFORMED TO COMPLY WITH THE REQUIREMENTS OF SECTIONS 25102(o) AND 25102(f). THE SALE OF THE
SECURITIES THAT ARE THE SUBJECT OF THIS EXERCISE AGREEMENT, IF NOT YET QUALIFIED WITH THE CALIFORNIA COMMISSIONER OF CORPORATIONS AND NOT EXEMPT FROM SUCH QUALIFICATION, IS SUBJECT TO SUCH QUALIFICATION, AND THE ISSUANCE OF SUCH SECURITIES, AND THE
RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR TO SUCH QUALIFICATION IS UNLAWFUL UNLESS THE SALE IS EXEMPT. THE RIGHTS OF THE PARTIES TO THIS EXERCISE AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED OR AN
EXEMPTION BEING AVAILABLE. 
 5. Restricted Securities. 

5.1 No Transfer Unless Registered or Exempt. Purchaser understands that Purchaser may not transfer any Shares unless such Shares are
registered under the Securities Act or qualified under applicable state securities laws or unless, in the opinion of counsel to the Company, exemptions from such registration and qualification requirements are available. Purchaser understands that
only the Company may file a registration statement with the SEC and that the Company is under no obligation to do so with respect to the Shares. Purchaser has also been advised that exemptions from registration and qualification may not be available
or may not permit Purchaser to transfer all or any of the Shares in the amounts or at the times proposed by Purchaser. 
 5.2 SEC Rule
144. In addition, Purchaser has been advised that SEC Rule 144 promulgated under the Securities Act, which permits certain limited sales of unregistered securities, is not presently available with respect to the Shares and, in any event,
requires that the Shares be held for a minimum of one (1) year, and in certain cases two (2) years, after they have been purchased and paid for (within the meaning of Rule 144). Purchaser understands that any Shares paid for with a
promissory note may not be deemed to be fully “paid for” within the meaning of Rule 144 unless certain conditions are met and that, accordingly, the Rule 144 holding period of such Shares may not begin to run until such Shares are fully
paid for within the 

  
 4 

 
meaning of Rule 144. Purchaser understands that Rule 144 may indefinitely restrict transfer of the Shares so long as Purchaser remains an “affiliate” of the Company or if “current
public information” about the Company (as defined in Rule 144) is not publicly available. 
 6. Restrictions on Transfers.

 6.1 Disposition of Shares. Purchaser hereby agrees that Purchaser shall make no disposition of the Shares (other than as
permitted by this Exercise Agreement) unless and until: 
  

	 	(a)	Purchaser shall have notified the Company of the proposed disposition and provided a written summary of the terms and conditions of the proposed disposition; 

 

	 	(b)	Purchaser shall have complied with all requirements of this Exercise Agreement applicable to the disposition of the Shares; 

  

	 	(c)	Purchaser shall have provided the Company with written assurances, in form and substance satisfactory to counsel for the Company, that (i) the proposed disposition does not require registration of the Shares under
the Securities Act or (ii) all appropriate actions necessary for compliance with the registration requirements of the Securities Act or of any exemption from registration available under the Securities Act (including Rule 144) have been taken;
and 

  

	 	(d)	Purchaser shall have provided the Company with written assurances, in form and substance satisfactory to the Company, that the proposed disposition will not result in the contravention of any transfer restrictions
applicable to the Shares pursuant to the provisions of the Regulations referred to in Section 4.2 hereof. 

 6.2
Restriction on Transfer. Purchaser shall not transfer, assign, grant a lien or security interest in, pledge, hypothecate, encumber or otherwise dispose of any of the Shares which are subject to the Company’s Repurchase Option or the
Company’s Right of First Refusal described below, except as permitted by this Exercise Agreement. 
 6.3 Transferee Obligations.
Each person (other than the Company) to whom the Shares are transferred by means of one of the permitted transfers specified in this Exercise Agreement must, as a condition precedent to the validity of such transfer, acknowledge in writing to the
Company that such person is bound by the provisions of this Exercise Agreement and that the transferred Shares are subject to (i) both the Company’s Repurchase Option and the Company’s Right of First Refusal granted hereunder and
(ii) the market stand-off provisions of Section 7 hereof, to the same extent such Shares would be so subject if retained by the Purchaser. 

7. Market Standoff Agreement. Purchaser agrees in connection with any registration of the Company’s securities that, upon
the request of the Company or the underwriters managing any public offering of the Company’s securities, Purchaser will not sell or otherwise dispose of any Shares without the prior written consent of the Company or such underwriters, as the
case may be, for such period of time after the effective date of such 

  
 5 

 
registration requested by such managing underwriters and subject to all restrictions as the Company or the underwriters may specify. Purchaser further agrees to enter into any agreement
reasonably required by the underwriters to implement the foregoing. 
 8. Company’s Repurchase Option for Unvested
Shares. The Company, or its assignee, shall have the option to repurchase all or a portion of the Purchaser’s Unvested Shares on the terms and conditions set forth in this Section (the “Repurchase Option”) if
Purchaser is Terminated for any reason, or no reason, including without limitation, Purchaser’s death, Disability, voluntary resignation or termination by the Company with or without Cause. Notwithstanding the foregoing, the Company shall
retain the Repurchase Option for Unvested Shares only as to that number of Unvested Shares (whether or not exercised) that exceeds the number of Vested shares which remain unexercised. 

8.1 Termination and Termination Date. In case of any dispute as to whether Purchaser is Terminated, the Committee shall have discretion
to determine whether Purchaser has been Terminated and the effective date of such Termination (the “Termination Date”). 

8.2 Exercise of Repurchase Option. At any time within ninety (90) days after the Purchaser’s Termination Date (or, in the
case of securities issued upon exercise of an Option after the Purchaser’s Termination Date, within ninety (90) days after the date of such exercise), the Company, or its assignee, may elect to repurchase any or all the Purchaser’s
Unvested Shares by giving Purchaser written notice of exercise of the Repurchase Option. 
 8.3 Calculation of Repurchase Price for
Unvested Shares. The Company or its assignee shall have the option to repurchase from Purchaser (or from Purchaser’s personal representative as the case may be) the Unvested Shares at the Purchaser’s Exercise Price or, if the Purchaser
paid for the Shares with a promissory note, at the then current fair market value as determined by the board, whichever is lower, proportionately adjusted for any stock split or similar change in the capital structure of the Company as set forth in
Section 2.2 of the Plan (the “Repurchase Price”). 
 8.4 Payment of Repurchase Price. The Repurchase
Price shall be payable, at the option of the Company or its assignee, by check or by cancellation of all or a portion of any outstanding purchase money indebtedness owed by Purchaser to the Company or such assignee, or by any combination thereof.
The Repurchase Price shall be paid without interest within the term of the Repurchase Option as described in Section 8.2. 
 8.5
Right of Termination Unaffected. Nothing in this Exercise Agreement shall be construed to limit or otherwise affect in any manner whatsoever the right or power of the Company (or any Parent or Subsidiary of the Company) to terminate
Purchaser’s employment or other relationship with Company (or the Parent or Subsidiary of the Company) at any time, for any reason. 

9. Company’s Right of First Refusal. Unvested Shares may not be sold or otherwise transferred by Purchaser without the
Company’s prior written consent. Before any Vested Shares held by Purchaser or any transferee of such Vested Shares (either sometimes referred to herein as the “Holder”) may be sold or otherwise transferred (including,
without limitation, a transfer by gift or operation of law), the Company and/or its assignee(s) will have a right of first refusal to purchase the Vested Shares to be sold or transferred (the “Offered Shares”) on the terms
and conditions set forth in this Section (the “Right of First Refusal”). 

  
 6 

 9.1 Notice of Proposed Transfer. The Holder of the Offered Shares will deliver to the
Company a written notice (the “Notice”) stating: (i) the Holder’s bona fide intention to sell or otherwise transfer the Offered Shares; (ii) the name and address of each proposed purchaser or other transferee
(the “Proposed Transferee”); (iii) the number of Offered Shares to be transferred to each Proposed Transferee; (iv) the bona fide cash price or other consideration for which the Holder proposes to transfer the
Offered Shares (the “Offered Price”); and (v) that the Holder acknowledges this Notice is an offer to sell the Offered Shares to the Company and/or its assignee(s) pursuant to the Company’s Right of First Refusal at
the Offered Price as provided for in this Exercise Agreement. 
 9.2 Exercise of Right of First Refusal. At any time within thirty
(30) days after the date of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to purchase all (or, with the consent of the Holder, less than all) the Offered Shares proposed to be transferred to
any one or more of the Proposed Transferees named in the Notice, at the purchase price, determined as specified below. 
 9.3 Purchase
Price. The purchase price for the Offered Shares purchased under this Section will be the Offered Price, provided that if the Offered Price consists of no legal consideration (as, for example, in the case of a transfer by gift) the purchase
price will be the fair market value of the Offered Shares as determined in good faith by the Company’s Board of Directors. If the Offered Price includes consideration other than cash, then the value of the non-cash consideration, as determined
in good faith by the Company’s Board of Directors, will conclusively be deemed to be the cash equivalent value of such non-cash consideration. 

9.4 Payment. Payment of the purchase price for the Offered Shares will be payable, at the option of the Company and/or its assignee(s)
(as applicable), by check or by cancellation of all or a portion of any outstanding purchase money indebtedness owed by the Holder to the Company (or to such assignee, in the case of a purchase of Offered Shares by such assignee) or by any
combination thereof. The purchase price will be paid without interest within sixty (60) days after the Company’s receipt of the Notice, or, at the option of the Company and/or its assignee(s), in the manner and at the time(s) set forth in
the Notice. 
 9.5 Holder’s Right to Transfer. If all of the Offered Shares proposed in the Notice to be transferred to a given
Proposed Transferee are not purchased by the Company and/or its assignee(s) as provided in this Section, then the Holder may sell or otherwise transfer such Offered Shares to each Proposed Transferee at the Offered Price or at a higher price,
provided that (i) such sale or other transfer is consummated within one hundred twenty (120) days after the date of the Notice, (ii) any such sale or other transfer is effected in compliance with all applicable securities laws,
and (iii) each Proposed Transferee agrees in writing that the provisions of this Section will continue to apply to the Offered Shares in the hands of such Proposed Transferee. If the Offered Shares described in the Notice are not transferred to
each Proposed Transferee within such one hundred twenty (120) day period, then a new Notice must be given to the Company pursuant to which the Company will again be offered the Right of First Refusal before any Shares held by the Holder may be
sold or otherwise transferred. 

  
 7 

 9.6 Exempt Transfers. Notwithstanding anything to the contrary in this Section, the
following transfers of Vested Shares will be exempt from the Right of First Refusal: (i) the transfer of any or all of the Vested Shares during Purchaser’s lifetime by gift or on Purchaser’s death by will or intestacy to
Purchaser’s “Immediate Family” (as defined below) or to a trust for the benefit of Purchaser or Purchaser’s Immediate Family, provided that each transferee or other recipient agrees in a writing satisfactory to the Company that
the provisions of this Section will continue to apply to the transferred Vested Shares in the hands of such transferee or other recipient; (ii) any transfer of Vested Shares made pursuant to a statutory merger or statutory consolidation of the
Company with or into another corporation or corporations (except that the Right of First Refusal will continue to apply thereafter to such Vested Shares, in which case the surviving corporation of such merger or consolidation shall succeed to the
rights of the Company under this Section unless the agreement of merger or consolidation expressly otherwise provides); or (iii) any transfer of Vested Shares pursuant to the winding up and dissolution of the Company. As used herein, the term
“Immediate Family” will mean Purchaser’s spouse, the lineal descendant or antecedent, father, mother, brother or sister, child, adopted child, grandchild or adopted grandchild of the Purchaser or the Purchaser’s
spouse, or the spouse of any of the above or Spousal Equivalent, as defined herein. As used herein, a person is deemed to be a “Spousal Equivalent” provided the following circumstances are true: (i) irrespective of
whether or not the Purchaser and the Spousal Equivalent are the same sex, they are the sole spousal equivalent of the other for the last twelve (12) months, (ii) they intend to remain so indefinitely, (iii) neither are married to
anyone else, (iv) both are at least 18 years of age and mentally competent to consent to contract, (v) they are not related by blood to a degree of closeness that which would prohibit legal marriage in the state in which they legally
reside, (vi) they are jointly responsible for each other’s common welfare and financial obligations, and (vii) they reside together in the same residence for the last twelve (12) months and intend to do so indefinitely. 

9.7 Termination of Right of First Refusal. The Right of First Refusal will terminate as to all Shares (i) on the effective date of
the first sale of Common Stock of the Company to the general public pursuant to a registration statement filed with and declared effective by the SEC under the 1933 Act (other than a registration statement relating solely to the issuance of Common
Stock pursuant to a business combination or an employee incentive or benefit plan) or (ii) on any transfer or conversion of Shares made pursuant to a statutory merger or statutory consolidation of the Company with or into another corporation or
corporations if the common stock of the surviving corporation or any direct or indirect parent corporation thereof is registered under the Securities Exchange Act of 1934, as amended. 

9.8 Encumbrances on Vested Shares. Purchaser may grant a lien or security interest in, or pledge, hypothecate or encumber Vested Shares
only if each party to whom such lien or security interest is granted, or to whom such pledge, hypothecation or other encumbrance is made, agrees in a writing satisfactory to the Company that: (i) such lien, security interest, pledge,
hypothecation or encumbrance will not apply to such Vested Shares after they are acquired by the Company and/or its assignees under this Section; and (ii) the provisions of this Section will continue to apply to such Vested Shares in the hands
of such party and any transferee of such party. Purchaser may not grant a lien or security interest in, or pledge, hypothecate or encumber, any Unvested Shares. 

  
 8 

 10. Rights as a Shareholder. Subject to the terms and conditions of
this Exercise Agreement, Purchaser will have all of the rights of a shareholder of the Company with respect to the Shares from and after the date that Shares are issued to Purchaser until such time as Purchaser disposes of the Shares or the Company
and/or its assignee(s) exercise(s) the Repurchase Option or Right of First Refusal. Upon an exercise of the Repurchase Option or Right of First Refusal, Purchaser will have no further rights as a holder of the Shares so purchased upon such exercise,
other than the right to receive payment for the Shares so purchased in accordance with the provisions of this Exercise Agreement, and Purchaser will promptly surrender the stock certificate(s) evidencing the Shares so purchased to the Company for
transfer or cancellation. 
 11. Escrow. As security for Purchaser’s faithful performance of this Exercise
Agreement, Purchaser agrees, immediately upon receipt of the stock certificate(s) evidencing the Shares, to deliver such certificate(s), together with the Stock Powers executed by Purchaser and by Purchaser’s spouse, if any (with the date and
number of Shares left blank), to the Secretary of the Company or other designee of the Company (the “Escrow Holder”), who is hereby appointed to hold such certificate(s) and Stock Powers in escrow and to take all such actions
and to effectuate all such transfers and/or releases of such Shares as are in accordance with the terms of this Exercise Agreement. Purchaser and the Company agree that Escrow Holder will not be liable to any party to this Exercise Agreement (or to
any other party) for any actions or omissions unless Escrow Holder is grossly negligent or intentionally fraudulent in carrying out the duties of Escrow Holder under this Exercise Agreement. Escrow Holder may rely upon any letter, notice or other
document executed with any signature purported to be genuine and may rely on the advice of counsel and obey any order of any court with respect to the transactions contemplated by this Exercise Agreement. The Shares will be released from escrow upon
termination of both the Repurchase Option, if applicable, and the Right of First Refusal; provided, however, that, if applicable, the Shares will remain in escrow so long as they are subject to the Pledge Agreement. 

12. Restrictive Legends and Stop-Transfer Orders. 

12.1 Legends. Purchaser understands and agrees that the Company will place the legends set forth below or similar legends on any stock
certificate(s) evidencing the Shares, together with any other legends that may be required by state or U.S. Federal securities laws, the Company’s Articles of Incorporation or Bylaws, any other agreement between Purchaser and the Company or any
agreement between Purchaser and any third party: 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE
SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE ISSUER OF
THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON PUBLIC RESALE AND TRANSFER INCLUDING THE RIGHTS OF
REPURCHASE AND FIRST REFUSAL HELD BY THE ISSUER AND/OR ITS ASSIGNEE(S) AS SET FORTH IN A STOCK OPTION EXERCISE AGREEMENT 

  
 9 

 
BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH PUBLIC SALE AND TRANSFER RESTRICTIONS INCLUDING THE RIGHT
OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES. 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A
LOCK-UP PERIOD OF 180 DAYS OR MORE AFTER THE EFFECTIVE DATE OF THE ISSUER’S REGISTRATION STATEMENT FILED UNDER THE ACT, AS AMENDED, AS SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE ORIGINAL HOLDER OF THESE SECURITIES, A COPY OF WHICH
MAY BE OBTAINED AT THE ISSUER’S PRINCIPAL OFFICE. AS A RESULT OF SUCH AGREEMENT, THESE SHARES MAY NOT BE TRADED PRIOR TO 180 DAYS OR MORE AFTER THE EFFECTIVE DATE OF THE INITIAL PUBLIC OFFERING OF THE COMMON STOCK OF THE ISSUER HEREOF. SUCH
LOCK-UP PERIOD IS BINDING ON TRANSFEREES OF THESE SHARES. 
 12.2 Stop-Transfer Instructions. Purchaser agrees that, to ensure
compliance with the restrictions imposed by this Exercise Agreement, the Company may issue appropriate “stop-transfer” instructions to its transfer agent, if any, and if the Company transfers its own securities, it may make appropriate
notations to the same effect in its own records. 
 12.3 Refusal to Transfer. The Company will 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 Exercise 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 have been so transferred. 
 13. Tax Consequences. PURCHASER UNDERSTANDS THAT
PURCHASER MAY SUFFER ADVERSE TAX CONSEQUENCES AS A RESULT OF PURCHASER’S PURCHASE OR DISPOSITION OF THE SHARES. PURCHASER REPRESENTS: (i) THAT PURCHASER HAS CONSULTED WITH ANY TAX ADVISER THAT PURCHASER DEEMS ADVISABLE IN CONNECTION WITH
THE PURCHASE OR DISPOSITION OF THE SHARES AND (ii) THAT PURCHASER IS NOT RELYING ON THE COMPANY FOR ANY TAX ADVICE. IN PARTICULAR, IF UNVESTED SHARES ARE SUBJECT TO REPURCHASE BY THE COMPANY, PURCHASER REPRESENTS THAT PURCHASER HAS CONSULTED
WITH PURCHASER’S OWN TAX ADVISOR CONCERNING THE ADVISABILITY OF FILING AN 83(b) ELECTION WITH THE INTERNAL REVENUE SERVICE WHICH MUST BE FILED WITHIN THIRTY (30) DAYS OF THE PURCHASE OF THE SHARES TO BE EFFECTIVE. Set forth below is a
brief summary as of the date the Plan was adopted by the Board of some of the U.S. Federal and California tax consequences of exercise of the Option and disposition of the Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND
REGULATIONS ARE SUBJECT TO CHANGE. PURCHASER SHOULD CONSULT HIS OR HER OWN TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE SHARES. 

13.1 Exercise of Incentive Stock Option. If the Option qualifies as an ISO, there will be no regular U.S. Federal income tax liability
or California income tax liability upon the exercise of the Option, although the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price will be treated as a tax preference item for U.S. Federal
alternative minimum tax purposes and may subject Purchaser to the alternative minimum tax in the year of exercise. 

  
 10 

 13.2 Exercise of Nonqualified Stock Option. If the Option does not qualify as an ISO,
there may be a regular U.S. Federal income tax liability and a California income tax liability upon the exercise of the Option. Purchaser will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the
excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price. If Purchaser is or was an employee of the Company, the Company may be required to withhold from Purchaser’s compensation or collect from
Purchaser and pay to the applicable taxing authorities an amount equal to a percentage of this compensation income at the time of exercise. 

13.3 Disposition of Shares. The following tax consequences may apply upon disposition of the Shares. 

 

	 	(a)	Incentive Stock Options. If the Shares are held for more than twelve (12) months after the date of the transfer of the Shares pursuant to the exercise of an ISO and are disposed of more than two
(2) years after the Date of Grant, any gain realized on disposition of the Shares will be treated as long term capital gain for federal and California income tax purposes. If Shares purchased under an ISO are disposed of within the applicable
one (1) year or two (2) year period, any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates) to the extent of the excess, if any, of the Fair Market Value of the Shares on the date of
exercise over the Exercise Price. 

  

	 	(b)	Nonqualified Stock Options. If the Shares are held for more than twelve (12) months after the date of the transfer of the Shares pursuant to the exercise of an NQSO, any gain realized on disposition of the
Shares will be treated as long term capital gain. 

  

	 	(c)	Withholding. The Company may be required to withhold from the Purchaser’s compensation or collect from the Purchaser and pay to the applicable taxing authorities an amount equal to a percentage of this
compensation income. 

 13.4 Section 83(b) Election for Unvested Shares. With respect to Unvested Shares, which
are subject to the Repurchase Option, unless an election is filed by the Purchaser with the Internal Revenue Service (and, if necessary, the proper state taxing authorities), within 30 days of the purchase of the Unvested Shares,
electing pursuant to Section 83(b) of the Code (and similar state tax provisions, if applicable) to be taxed currently on any difference between the Exercise Price of the Unvested Shares and their Fair Market Value on the date of purchase,
there may be a recognition of taxable income (including, where applicable, alternative minimum taxable income) to the Purchaser, measured by the excess, if any, of the Fair Market Value of the Unvested Shares at the time they cease to be Unvested
Shares, over the Exercise Price of the Unvested Shares. A form of Election under Section 83(b) is attached hereto as Exhibit 5 for reference. 

  
 11 

 14. Compliance with Laws and Regulations. The issuance and transfer of the Shares
will be subject to and conditioned upon compliance by the Company and Purchaser with all applicable state and U.S. Federal laws and regulations and with all applicable requirements of any stock exchange or automated quotation system on which the
Company’s Common Stock may be listed or quoted at the time of such issuance or transfer. 
 15. Successors and Assigns.
The Company may assign any of its rights under this Exercise Agreement, including its rights to purchase Shares under the Repurchase Option and Right of First Refusal. No other party to this Exercise Agreement may assign, whether voluntarily or by
operation of law, any of its rights and obligations under this Exercise Agreement, except with the prior written consent of the Company. This Exercise Agreement shall be binding upon and inure to the benefit of the successors and assigns of the
Company. Subject to the restrictions on transfer herein set forth, this Exercise Agreement will be binding upon Purchaser and Purchaser’s heirs, executors, administrators, legal representatives, successors and assigns. 

16. Governing Law. This Exercise Agreement shall be governed by and construed in accordance with the laws of the State of
California, without giving effect to that body of laws pertaining to conflict of laws. 
 17. Notices. Any and all notices
required or permitted to be given to a party pursuant to the provisions of this Exercise Agreement will be in writing and will be effective and deemed to provide such party sufficient notice under this Exercise Agreement on the earliest of the
following: (i) at the time of personal delivery, if delivery is in person; (ii) at the time of transmission by facsimile, addressed to the other party at its facsimile number specified herein (or hereafter modified by subsequent notice to
the parties hereto), with confirmation of receipt made by both telephone and printed confirmation sheet verifying successful transmission of the facsimile; (iii) one (1) business day after deposit with an express overnight courier for
United States deliveries, or two (2) business days after such deposit for deliveries outside of the United States, with proof of delivery from the courier requested; or (iv) three (3) business days after deposit in the United States
mail by certified mail (return receipt requested) for United States deliveries. 
 All notices for delivery outside the United States will
be sent by facsimile or by express courier. All notices not delivered personally or by facsimile will be sent with postage and/or other charges prepaid and properly addressed to the party to be notified at the address or facsimile number set forth
below the signature lines of this Exercise Agreement, or at such other address or facsimile number as such other party may designate by one of the indicated means of notice herein to the other parties hereto. Notices to the Company will be marked
“Attention: President”. Notices by facsimile shall be machine verified as received. 
 18. Further Assurances. The
parties agree to execute such further documents and instruments and to take such further actions as may be reasonably necessary to carry out the purposes and intent of this Exercise Agreement. 

19. Titles and Headings. The titles, captions and headings of this Exercise Agreement are included for ease of reference only
and will be disregarded in interpreting or construing this Exercise Agreement. Unless otherwise specifically stated, all references herein to “sections” and “exhibits” will mean “sections” and “exhibits” to
this Exercise Agreement. 

  
 12 

 20. Entire Agreement. The Plan, the Stock Option Agreement and this Exercise
Agreement, together with all Exhibits thereto, constitute the entire agreement and understanding of the parties with respect to the subject matter of this Exercise Agreement, and supersede all prior understandings and agreements, whether oral or
written, between or among the parties hereto with respect to the specific subject matter hereof. 
 21. Counterparts. This
Exercise Agreement may be executed in any number of counterparts, each of which when so executed and delivered will be deemed an original, and all of which together shall constitute one and the same agreement. 

22. Severability. If any provision of this Exercise Agreement is determined by any court or arbitrator of competent jurisdiction
to be invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto. If such clause or provision cannot be so enforced, such provision shall be stricken from
this Exercise Agreement and the remainder of this Exercise Agreement shall be enforced as if such invalid, illegal or unenforceable clause or provision had (to the extent not enforceable) never been contained in this Exercise Agreement.
Notwithstanding the forgoing, if the value of this Exercise Agreement based upon the substantial benefit of the bargain for any party is materially impaired, which determination as made by the presiding court or arbitrator of competent jurisdiction
shall be binding, then both parties agree to substitute such provision(s) through good faith negotiations. 
 23. Facsimile
Signatures. This Agreement may be executed and delivered by facsimile and upon such delivery the facsimile signature will be deemed to have the same effect as if the original signature had been delivered to the other party. The failure to
deliver the original signature copy and/or the nonreceipt of the original signature copy shall have no effect upon the binding and enforceable nature of this Agreement. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

  
 13 

 IN WITNESS WHEREOF, the Company has caused this Exercise Agreement to be executed in
triplicate by its duly authorized representative and Purchaser has executed this Exercise Agreement in triplicate as of the Effective Date, indicated above. 
  

									
	 ADESTO TECHNOLOGIES

CORPORATION, INC.
				PURCHASER
				
	By:		  
				  

	Name:		  
				(Signature of Purchaser)
	Title:		  
				  

							(Print name of Purchaser)
	Fax No.:		  
				Address:		  

	Tel No.:		  
				  

							  

							Fax No.:		  

							Tel No.:		  

 List of Exhibits 
  

			
	Exhibit 1:		Stock Power and Assignment Separate from Stock Certificate
	Exhibit 2:		Spouse Consent
	Exhibit 3:		Copy of Purchaser’s Check
	Exhibit 4:		Section 83(b) Election

 [SIGNATURE PAGE TO ADESTO
TECHNOLOGIES CORPORATION INC. 
 STOCK OPTION
EXERCISE AGREEMENT] 

  
 14 

 EXHIBIT 1 

STOCK POWER AND ASSIGNMENT 

SEPARATE FROM STOCK CERTIFICATE 

 Stock Power and Assignment 

Separate from Stock Certificate 

FOR VALUE RECEIVED and pursuant to that certain Stock Option Exercise Agreement No.
            dated as of                     ,
        , (the “Agreement”), the undersigned hereby sells, assigns and transfers unto
                    ,             shares of the Common Stock of Adesto Technologies
Corporation, Inc., a California corporation (the “Company”), standing in the undersigned’s name on the books of the Company represented by Certificate No(s).
            delivered herewith, and does hereby irrevocably constitute and appoint the Secretary of the Company as the undersigned’s attorney-in-fact, with full power of substitution,
to transfer said stock on the books of the Company. THIS ASSIGNMENT MAY ONLY BE USED AS AUTHORIZED BY THE AGREEMENT AND ANY EXHIBITS THERETO. 
 Dated:
            ,          
  

	
	PURCHASER
	
	  

	(Signature)
	
	  

	(Please Print Name)
	
	  

	(Spouse’s Signature, if any)
	
	  

	(Please Print Spouse’s Name)

 Instructions to Purchaser: Please do not fill in any blanks other than the signature line. The purpose of
this Stock Power and Assignment is to enable the Company to acquire the shares upon a default under Purchaser’s promissory note, if applicable, and to exercise its “Repurchase Option” or “Right of First Refusal” set forth in
the Exercise Agreement without requiring additional signatures on the part of the Purchaser or Purchaser’s Spouse. 

 EXHIBIT 2 

SPOUSE CONSENT 

 Spouse Consent 

The undersigned spouse of
                                         
               (the “Purchaser”) has read, understands, and hereby approves the Stock Option Exercise Agreement between Purchaser and the Company (the
“Agreement”). In consideration of the Company’s granting my spouse the right to purchase the Shares as set forth in the Agreement, the undersigned hereby agrees to be irrevocably bound by the Agreement and further agrees
that any community property interest I may have in the Shares shall similarly be bound by the Agreement. The undersigned hereby appoints Purchaser as my attorney-in-fact with respect to any amendment or exercise of any rights under the Agreement.

Date:                         
                                

 

			
		
			  

			Print Name of Purchaser’s Spouse
		
			  

			Signature of Purchaser’s Spouse
		
	Address:		  

		
			  

		
			  

  ̈  Please check here, and sign below, if you
do not have a spouse. 

Date:                         
                                

 

	
	
	  

	Print Name of Purchaser
	
	  

	Signature of Purchaser
	

 EXHIBIT 3 

COPY OF PURCHASER’S CHECK 

 EXHIBIT 4 

SECTION 83(B) ELECTION 

 ELECTION UNDER SECTION 83(B) OF THE INTERNAL REVENUE CODE 

The undersigned Taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to include the excess, if any, of the
fair market value of the property described below at the time of purchase over the amount paid for such property, as compensation for services in the calculation of: (1) regular gross income; or (2) alternative minimum taxable income, as
the case may be. 
  

					
	1.    		TAXPAYER’S NAME:		  

			
			TAXPAYER’S ADDRESS:		  

			
					  

			
	2.		SOCIAL SECURITY NUMBER:		  

		
	3.		The property with respect to which the election is made is described as follows:                  shares of Common Stock of Adesto
Technologies Corporation, Inc., a California corporation (the “Company”) which were purchased upon exercise of an option by Company, which is Taxpayer’s employer or the corporation for whom the Taxpayer performs
services.
		
	4.		The date on which the shares were purchased pursuant to the exercise of the option was                     ,
                 and this election is made for calendar year     .
		
	5.		The shares received upon exercise of the option are subject to the following restrictions: The Company may repurchase all or a portion of the shares at the Taxpayer’s original purchase price under certain
conditions at the time of Taxpayer’s termination of employment or services.
		
	6.		The fair market value of the shares (without regard to restrictions other than restrictions which by their terms will never lapse) was $             per
share at the time of exercise of the option.
		
	7.		The amount paid for such shares upon exercise of the option was $             per share.
		
	8.		The Taxpayer has submitted a copy of this statement to the Company.

 THIS ELECTION MUST BE FILED WITH THE INTERNAL REVENUE SERVICE (“IRS”), AT THE OFFICE WHERE THE
TAXPAYER FILES ANNUAL INCOME TAX RETURNS, WITHIN 30 DAYS AFTER THE DATE OF TRANSFER OF THE SHARES, AND MUST ALSO BE FILED WITH THE TAXPAYER’S INCOME TAX RETURNS FOR THE CALENDAR YEAR. THE ELECTION CANNOT BE REVOKED
WITHOUT THE CONSENT OF THE IRS. 
  

					
	Dated:				  

					Taxpayer’s Signature

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