Document:

Amended and Restated Investor Rights Agreement

 Exhibit 4.2 
  

RENOVIS, INC. 
  
 AMENDED AND RESTATED 
 INVESTOR RIGHTS AGREEMENT 

 TABLE OF CONTENTS 
  

	 	  	 	  	PAGE

			
	 SECTION 1
	  	 GENERAL
	  	2
			
	             1.1
	  	 Amendment and Restatement of Prior Agreement
	  	2
			
	             1.2
	  	 Definitions
	  	2
			
	 SECTION 2
	  	 REGISTRATION; RESTRICTIONS ON TRANSFER
	  	6
			
	             2.1
	  	 Restrictions on Transfer
	  	6
			
	             2.2
	  	 Demand Registration
	  	8
			
	             2.3
	  	 Piggyback Registrations
	  	9
			
	 	  	 (a)     Underwriting
	  	9
			
	 	  	 (b)     Right to Terminate Registration
	  	10
			
	             2.4
	  	 Form S-3 Registration
	  	10
			
	             2.5
	  	 Special Form S-3 Registration
	  	11
			
	             2.6
	  	 Expenses of Registration
	  	13
			
	             2.7
	  	 Obligations of the Company
	  	14
			
	             2.8
	  	 Termination of Registration Rights
	  	16
			
	             2.9
	  	 Delay of Registration; Furnishing Information
	  	16
			
	             2.10
	  	 Indemnification
	  	16
			
	             2.11
	  	 Assignment of Registration Rights
	  	18
			
	             2.12
	  	 Amendment of Registration Rights
	  	19
			
	             2.13
	  	 Limitation on Subsequent Registration Rights
	  	19
			
	             2.14
	  	 “Market Stand-Off” Agreement; Agreement to Furnish Information
	  	19
			
	             2.15
	  	 Rule 144 Reporting
	  	20
			
	 SECTION 3
	  	 COVENANTS OF THE COMPANY
	  	21
			
	             3.1
	  	 Basic Financial Information and Reporting
	  	21
			
	             3.2
	  	 Inspection Rights
	  	21
			
	             3.3
	  	 Confidentiality of Records
	  	22
			
	             3.4
	  	 Reservation of Common Stock
	  	22
			
	             3.5
	  	 Stock Vesting
	  	22
			
	             3.6
	  	 Proprietary Information and Inventions Agreement
	  	22
			
	             3.7
	  	 Qualified Small Business
	  	22
			
	             3.8
	  	 Termination of Covenants
	  	22
			
	             3.9
	  	 Compensation and Reimbursement of Directors
	  	23

  
  

 i. 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

	 	  	 	  	PAGE

			
	 SECTION 4
	  	 RIGHTS OF FIRST REFUSAL
	  	23
			
	             4.1
	  	 Subsequent Offerings
	  	23
			
	             4.2
	  	 Exercise of Rights
	  	23
			
	             4.3
	  	 Issuance of Equity Securities to Other Persons
	  	23
			
	             4.4
	  	 Termination and Waiver of Rights of First Refusal
	  	24
			
	             4.5
	  	 Transfer of Rights of First Refusal
	  	24
			
	             4.6
	  	 Excluded Securities
	  	24
			
	             4.7
	  	 Amendment of First Refusal Rights
	  	25
			
	 SECTION 5
	  	 MISCELLANEOUS
	  	25
			
	             5.1
	  	 Governing Law
	  	25
			
	             5.2
	  	 Survival
	  	25
			
	             5.3
	  	 Successors and Assigns
	  	25
			
	             5.4
	  	 Entire Agreement
	  	25
			
	             5.5
	  	 Severability
	  	26
			
	             5.6
	  	 Amendment and Waiver
	  	26
			
	             5.7
	  	 Delays or Omissions
	  	26
			
	             5.8
	  	 Notices
	  	26
			
	             5.9
	  	 Attorneys’ Fees
	  	27
			
	             5.10
	  	 Titles and Subtitles
	  	27
			
	             5.11
	  	 Additional Investors
	  	27
			
	             5.12
	  	 Counterparts
	  	27

  
  

 ii. 

 RENOVIS, INC. 
  
 AMENDED AND RESTATED

 INVESTOR RIGHTS AGREEMENT 
  
 THIS AMENDED AND
RESTATED INVESTOR RIGHTS AGREEMENT (the “Agreement”) is entered into as of August 7, 2003, by and among RENOVIS, INC., a
Delaware corporation (the “Company”), CentPharm LLC, a Delaware limited liability company (the “LLC”), the investors listed on Exhibit A hereto, referred to hereinafter as the “Investors” and each individually as an
“Investor,” and, with respect to Sections 1, 2 (except Sections 2.2 and 2.4) and 5 only, GATX Ventures, Inc. and TBCC Funding Trust II (together with GATX Ventures, Inc., the “Warrant Holders”). As used herein, the term
“Centaur” shall mean Centaur Pharmaceuticals, Inc., the Delaware corporation that merged into the LLC upon the closing of the “LLC Merger” (as that term is defined below), and, unless the context otherwise requires, shall also
mean and include the LLC. For purposes of the rights set forth in Section 2.5, the term “Company” shall, unless the context otherwise requires, mean and include any and all successors in interest of such company or acquirors of such
company or its assets in any “Change in Control” (as defined below). 
  
 RECITALS 
  
 WHEREAS, certain of the Investors are purchasing shares of the Company’s Series E Preferred Stock (the “Series E Stock”), pursuant to that certain Series E Preferred Stock Purchase
Agreement (the “Purchase Agreement”) of even date herewith; 
  
 WHEREAS, the obligations of the parties in the Purchase Agreement are conditioned upon the execution and delivery of this Agreement; 
  
 WHEREAS, certain of the Investors (the “Prior Investors”) are holders of the
Company’s Series A Preferred Stock (the “Series A Stock”), Series B Preferred Stock (the “Series B Stock”) and Series C Preferred Stock (the “Series C Stock”) and Centaur is a holder of the Company’s Series D
Preferred Stock (the “Series D Stock”; the Series A Stock, the Series B Stock, the Series C Stock, the Series D Stock and the Series E Stock shall be referred to herein collectively as the “Preferred Stock”); 
  
 WHEREAS, the Prior Investors, Centaur
and the Company are parties to an Amended and Restated Investor Rights Agreement dated December 10, 2002 (the “Prior Agreement”); and 
  
 WHEREAS, the parties to the Prior Agreement desire to terminate the Prior Agreement and accept the rights and
covenants hereof in lieu of their rights and covenants under the Prior Agreement. 
  
 NOW, THEREFORE, in consideration of these premises and for other good and valid consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows: 
  

 1. 

 SECTION 1. GENERAL. 
  
 1.1 Amendment and Restatement of Prior Agreement. The Prior Agreement is hereby amended in its entirety and restated herein. Such amendment and
restatement is effective upon the execution of the Agreement by the Company, LLC and the holders of a majority in interest of the Registrable Securities held by the Prior Investors outstanding as of the date of this Agreement. Upon such execution,
all provisions of, rights granted and covenants made in the Prior Agreement are hereby waived, released and superseded in their entirety and shall have no further force or effect, including, without limitation, all rights of first refusal and any
notice period associated therewith otherwise applicable to the transactions contemplated by the Purchase Agreement. 
  
 1.2 Definitions. As used in this Agreement the following terms shall have the following respective meanings: 
  
 (a) “Asset Purchase” means the consummation of the exchange
of substantially all of the assets of Centaur for shares of Series D Stock and other consideration from the Company pursuant to the Asset Purchase Agreement. 
  
 (b) “Asset Purchase Agreement” means that certain Asset Purchase Agreement, dated as of June 26, 2002, between the Company and Centaur,
as amended by that certain Amendment to Asset Purchase Agreement, dated as of October 23, 2002, between the Company and Centaur. 
  
 (c) “Asset Purchase Stock” means those shares of Series D Stock issued to Centaur pursuant to the Asset Purchase Agreement (including,
except to the extent the context otherwise requires, any other shares of any class or series of stock of the Company issued upon conversion thereof or in exchange therefore, or issued by an acquirer of the Company in any Change in Control in
exchange, in whole or in part, for any such shares of stock (in each case whether such exchange or conversion is effected in one or a series of related transactions and whether by way of reclassification, recapitalization, merger, sale of assets, or
otherwise)). 
  
 (d) “Centaur Bridge Notes”
means: 
  
 (i) the promissory notes issued to certain
investors under the Note and Warrant Purchase Agreement dated January 30, 2002 by and among Centaur and the Investors listed on Exhibit A thereto (the “Note Purchase Agreement”), as amended by the Amendment Agreement dated December 10,
2002 by and among Centaur and certain of the “Investors” (as defined in the Note Purchase Agreement) (the “Note Purchase Amendment”; the Note Purchase Agreement, as amended by the Note Purchase Amendment, shall be referred to
herein as the Amended Note Purchase Agreement”); and 
  
 (ii) except as the context otherwise requires, any promissory notes issued to a maximum of ten creditors of Centaur with terms that are substantially the same as the notes sold under the Amended Note Purchase Agreement, provided,
however, that Centaur shall first have provided to the Company (1) written notice designating such creditors and providing the names and addresses of such creditors, and (2) written confirmation by each such creditor that he, she or it is an
“accredited investor” within the meaning of Rule 501 of Regulation D, as promulgated under the Securities Act. 

  

 2. 

 (e) “Centaur Bridge Note Holder” means a holder of a Centaur Bridge Note. 
  
 (f) “Centaur LLC Members” means members of the LLC who hold
membership interests in the LLC as of the LLC Distribution Date, or if the context otherwise requires, stockholders of Centaur. 
  
 (g) “Centaur Option” means the option to acquire shares of the Asset Purchase Stock granted to the Centaur Bridge Note Holders by
Centaur, as provided in the Note Purchase Amendment. 
  
 (h)
“Centaur Put Right” means the right of Centaur to sell to the Centaur Bridge Note Holders a number of shares of the Asset Purchase Stock, as provided in the Note Purchase Amendment. 
  
 (i) “Change in Control” means (i) a sale of all or
substantially all of the assets of the Company or (ii) an acquisition of the Company by another corporation or entity by consolidation, merger or other reorganization in which the holders of the Company’s outstanding voting stock immediately
prior to such transaction own, immediately after such transaction, securities representing less than a majority of the voting power of the corporation or other entity surviving such transaction, provided that a merger effected exclusively for
the purpose of changing the domicile of the Company shall not constitute a “Change in Control”. 
  
 (j) “Company Resale Restrictions Response” means a notice in writing to Centaur stating whether the Company will take either, both, or
none of the following positions: 
  
 (A) The shares of
Asset Purchase Stock to be transferred by Centaur to the Centaur Bridge Note Holders (either by virtue of payment of Centaur Bridge Notes or exercise of the Centaur Option or the Centaur Put Right) and the Asset Purchase Stock held by Centaur may,
immediately upon satisfaction of the Release Conditions, be resold to the public by the Centaur Bridge Note Holders and/or Centaur under Rule 144 (without limitations as to holding period), or that such shares may all otherwise be freely resold by
Centaur Bridge Note Holders and/or Centaur to the public without restrictions. 
  
 (B) The shares of Asset Purchase Stock to be distributed by Centaur to the Centaur LLC Members may, immediately upon satisfaction of the Release Conditions, be resold to the public by Centaur LLC Members either
(i) under Rule 144 (without limitations as to holding period), or such shares may all otherwise be freely resold by Centaur LLC Members to the public without restrictions; or (ii) without restrictions (other than restrictions under Rule 145(d)(1)
for former affiliates of Centaur) by virtue of such shares no longer being “restricted securities” as a result of having been issued in an exchange exempt under Section 3(a)(10) of the Securities Act. 
  
 (k) “Exchange Act” means the Securities Exchange Act of
1934, as amended. 
  

 3. 

 (l) “Form S-3” means such form under the Securities Act as in effect on the date hereof
or any successor or similar 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. 

 
 (m) “Holder” means any person owning of record
Registrable Securities that have not been sold to the public or any assignee of record of such Registrable Securities in accordance with Section 2.11 hereof; provided that for purposes of Section 2.2, Section 2.4, Section 3, Section 4 and Section
5.6, the term “Holder” shall not include the Warrant Holders or their assigns. 
  
 (n) “Initial Offering” means the Company’s first firm commitment underwritten public offering of its Common Stock registered under the Securities Act. 
  
 (o) “LLC Distribution Date” means the date on which both of
the following conditions in clauses (i) and (ii) of this Section 1.2(o) are satisfied: 
  
 (i) the Release Conditions have been satisfied; and 
  
 (ii) all of the Other Conditions have been satisfied; provided, however, that the conditions in this clause (ii) do not have to be satisfied if the Release Conditions are being satisfied because it is the
Seventh Anniversary. 
  
 (p) “LLC Merger” means
the merger of Centaur into the LLC following the closing of the Asset Purchase. 
  
 (q) “Other Conditions” means both of the following conditions in clauses (i) and (ii) of this Section 1.2(q): 
  

(i) Either (1) the Company has confirmed in writing that the shares of Asset Purchase Stock to be transferred by Centaur to the Centaur Bridge
Note Holders (either by virtue of payment of the Centaur Bridge Notes or exercise of the Centaur Option or the Centaur Put Right) and shares of Asset Purchase Stock held by Centaur may, immediately upon satisfaction of the Release Conditions, be
resold to the public by the Centaur Bridge Note Holders and Centaur under Rule 144 (without limitations as to holding period), or that such shares may all otherwise be freely resold by Centaur Bridge Note Holders and Centaur to the public without
restrictions; or (2) a Special Form S-3 has been declared effective. 
  
 (ii) Either (1) the Company has confirmed in writing that shares to be distributed by Centaur to the Centaur LLC Members may, immediately upon satisfaction of the Release Conditions, be resold to the public by Centaur LLC Members
either (a) pursuant to Rule 144 (without limitations as to holding period), or such shares may all otherwise be freely resold by Centaur LLC Members to the public without restrictions; or (b) without restrictions (other than restrictions under Rule
145(d)(1) for former affiliates of Centaur) by virtue of such shares no longer being “restricted securities” as a result of having been issued in an exchange exempt under Section 3(a)(10) of the Securities Act; or (2) a Special Form S-3
has been declared effective. 
  

 4. 

 (r) “Register,” “registered,” and “registration” refer to a
registration effected by preparing and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of effectiveness of such registration statement or document. 
  
 (s) “Registrable Securities” means (a) Common Stock of the
Company issued or issuable upon conversion of the Shares; and (b) any Common Stock of the Company issued as (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 in exchange for or in replacement of, such above-described securities. Notwithstanding the foregoing, Registrable Securities shall not include any securities sold by a person to the public either pursuant to a registration
statement or Rule 144 or sold in a private transaction in which the transferor’s rights under Section 2 of this Agreement are not assigned. 
  
 (t) “Registrable Securities then outstanding” shall be the number of shares determined by calculating the total number of shares of the
Company’s Common Stock that are Registrable Securities and either (a) are then issued and outstanding or (b) are issuable pursuant to then exercisable or convertible securities. 
  
 (u) “Registration Expenses” shall mean all expenses incurred by the Company in complying with Sections 2.2,
2.3, 2.4 and 2.5 hereof, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel for the Company, reasonable fees and disbursements not to exceed twenty-five thousand dollars ($25,000) of
a single special counsel for the Holders, blue sky fees and expenses and the expense of any special audits incident to or required by any such registration (but excluding the compensation of regular employees of the Company which shall be paid in
any event by the Company). 
  
 (v) “Release
Conditions” means the conditions set forth in Section 5.7(b) of the Asset Purchase Agreement for the “Transfer” of the “Shares” (as such terms are defined therein). 
  
 (w) “Resale Query” means a written request by Centaur to the
Company asking that the Company deliver a Company Resale Restrictions Response. 
  
 (x) “Rule 144” means Rule 144 promulgated under the Securities Act by the SEC. 
  
 (y) “Rule 145(d)(1)” means Rule 145(d)(1) promulgated under the Securities Act by the SEC. 
  
 (z) “Securities Act” means the Securities Act of 1933, as
amended. 
  
 (aa) “SEC” or “Commission”
means the Securities and Exchange Commission. 
  
 (bb)
“Selling Expenses” shall mean all underwriting discounts and selling commissions applicable to the sale. 
  

 5. 

 (cc) “Seventh Anniversary” shall mean the seventh anniversary of the “Closing
Date” (as such term is defined in the Asset Purchase Agreement). 
  
 (dd) “Shares” shall mean the Company’s Preferred Stock held by the Investors listed on Exhibit A hereto, the Company’s Preferred Stock issuable to the Warrant Holders upon the exercise of the Warrants and the
Investors’ and Warrant Holders’ permitted assigns. 
  
 (ee) “Special Form S-3” means a registration statement on Form S-3 filed by the Company pursuant to the terms of this Agreement to register for resale to the public the shares of Asset Purchase Stock held by, and for the
benefit of, Centaur, the Centaur Bridge Note Holders and/or the Centaur LLC Members, as the case may be, who elect to participate in such resale. 
  
 (ff) “Special Registration Statement” shall mean a registration statement relating to any employee benefit plan or with respect to any
corporate reorganization or other transaction under Rule 145 of the Securities Act. 
  
 (gg) “Warrants” shall mean (i) that certain Warrant to Purchase 77,778 shares of Series B Stock issued by the Company to GATX Ventures, Inc. on April 27, 2001, (ii) that certain Warrant to Purchase
77,778 shares of Series B Stock issued by the Company to TBCC Funding Trust II on April 27, 2001, (iii) that certain Warrant to Purchase 38,890 shares of Series B Stock issued by the Company to GATX Ventures, Inc. on October 10, 2001, (iv) that
certain Warrant to Purchase 18,000 shares of Series C Stock issued by the Company to GATX Ventures, Inc. on July 24, 2002, and (v) that certain Warrant to Purchase 18,000 shares of Series C Stock issued by the Company to TBCC Funding Trust II on
July 24, 2002. 
  
 (hh) “1934 Act” means the
Securities Exchange Act of 1934, as amended. 
  
 SECTION 2. REGISTRATION;
RESTRICTIONS ON TRANSFER. 
  
 2.1 Restrictions on
Transfer. 
  
 (a) Each Holder agrees not to make any
disposition of all or any portion of the Shares or Registrable Securities unless and until: 
  
 (i) There is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with such registration statement; or 
  
 (ii) (A) The transferee has agreed in writing to be bound by the
terms of this Agreement, (B) such Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and (C) if reasonably
requested by the Company, such Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration of such shares under the Securities Act. It is agreed that
the Company will not require opinions of counsel for transactions made pursuant to Rule 144 except in unusual circumstances. 
  

 6. 

 (iii) Notwithstanding the provisions of paragraphs (i) and (ii) above, no such registration
statement or opinion of counsel shall be necessary for a transfer by a Holder which is (A) a partnership transferring to its partners or former partners in accordance with partnership interests, (B) a corporation transferring to its shareholders in
accordance with their interest in the corporation, (C) a limited liability company transferring to its members or former members in accordance with their interest in the limited liability company, (D) an individual transferring to the Holder’s
family member or trust for the benefit of an individual Holder, (E) HBM BioVentures (Cayman) Ltd. transferring to its affiliated entities, (F) Biomedicine L.P. transferring to its affiliated entities or (G) any of V-Sciences Investments Pte Ltd.,
Priceworth Investments Limited, Vertex Technology Fund (III) Ltd. or Vertex Life Science Inc. transferring to its affiliated entities; provided that in each case the transferee will be subject to the terms of this Agreement to the same extent
as if such transferee were an original Holder hereunder. 
  
 (iv) Notwithstanding the provisions of paragraphs (i), (ii) and (iii) above, commencing on the date hereof and until the satisfaction of the Transfer Conditions, as such term is defined in the Asset Purchase Agreement, Centaur and
LLC agree not to make any disposition of all or a portion of the Shares or Registrable Securities except in accordance with the provisions of the Asset Purchase Agreement. 
  
 (b) Each certificate representing Shares or Registrable Securities shall (unless otherwise permitted by the
provisions of the Agreement) be stamped or otherwise imprinted with a legend substantially similar to the following (in addition to any legend required under applicable state securities laws): 
  

	 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”)
AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH
REGISTRATION IS NOT REQUIRED.

  
 (c) The Company
shall be obligated to reissue promptly unlegended certificates at the request of any holder thereof if the holder shall have obtained an opinion of counsel (which counsel may be counsel to the Company) reasonably acceptable to the Company to the
effect that the securities proposed to be disposed of may lawfully be so disposed of without registration, qualification or legend. 
  
 (d) Any legend endorsed on an instrument pursuant to applicable state securities laws and the stop-transfer instructions with respect to such
securities shall be removed upon receipt by the Company of an order of the appropriate blue sky authority authorizing such removal. 
  

 7. 

 2.2 Demand Registration. 
  
 (a) Subject to the conditions of this Section 2.2, if the Company shall receive a written request from the Holders of
greater than fifty percent (50%) of the Registrable Securities then outstanding (the “Initiating Holders”) that the Company file a registration statement under the Securities Act covering the registration of greater than fifty percent
(50%) of the Registrable Securities then outstanding (or a lesser percent if the anticipated aggregate offering price, net of underwriting discounts and commissions, would exceed $10,000,000 (a “Qualified Public Offering”)), then the
Company shall, within thirty (30) days of the receipt thereof, give written notice of such request to all Holders, and subject to the limitations of this Section 2.2, effect, as expeditiously as reasonably possible, the registration under the
Securities Act of all Registrable Securities that the Holders request to be registered. 
  
 (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
this Section 2.2 or any request pursuant to Section 2.4 and the Company shall include such information in the written notice referred to in Section 2.2(a) or Section 2.4(a), as applicable. In such event, the right of any Holder to include its
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 enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by a majority in interest of the Initiating Holders
(which underwriter or underwriters shall be reasonably acceptable to the Company). Notwithstanding any other provision of this Section 2.2 or Section 2.4, if the underwriter advises the Company that marketing factors require a limitation of the
number of securities to be underwritten (including Registrable Securities) then the Company shall so advise all Holders of Registrable Securities which would otherwise be underwritten pursuant hereto, and the number of shares that may be included in
the underwriting shall be allocated to the Holders of such Registrable Securities on a pro rata basis based on the number of Registrable Securities held by all such Holders (including the Initiating Holders); however, if the underwriting
relates to a registration pursuant to Section 2.4, then prior to limiting the number of Registrable Securities of other Holders, the Company shall first exclude Registrable Securities held by Centaur Bridge Note Holders, Centaur and Centaur LLC
Members and their transferees provided Section 2.5 is not yet available or is no longer available. Any Registrable Securities excluded or withdrawn from such underwriting shall be withdrawn from the registration. 
  
 (c) The Company shall not be required to effect a registration
pursuant to this Section 2.2: 
  
 (i) prior to the
earlier of (A) August 7, 2007 or (B) one hundred eighty (180) days following the effective date of the registration statement pertaining to the Initial Offering; 
  
 (ii) after the Company has effected two (2) registrations pursuant to this Section 2.2, and such registrations have
been declared or ordered effective; 
  

 8. 

 (iii) during the period starting with the date of filing of, and ending on the date one hundred
eighty (180) days following the effective date of the registration statement pertaining to the Initial Offering; provided that the Company makes reasonable good faith efforts to cause such registration statement to become effective;

  
 (iv) if within thirty (30) days of receipt of a
written request from Initiating Holders pursuant to Section 2.2(a), the Company gives notice to the Holders of the Company’s intention to make its Initial Offering within ninety (90) days; 
  
 (v) if the Company shall furnish to Holders requesting a registration
statement pursuant to this Section 2.2, a certificate signed by the Chairman of the Board stating that in the good faith judgment of the Board of Directors of the Company, it would be seriously detrimental to the Company and its shareholders for
such registration statement to be effected at such time, in which event the Company shall have the right to defer such filing for a period of not more than ninety (90) days after receipt of the request of the Initiating Holders; provided that
such right to delay a request shall be exercised by the Company not more than once in any twelve (12) month period; or 
  
 (vi) 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 2.4 below. 
  
 2.3 Piggyback
Registrations. The Company shall notify all Holders of Registrable Securities in writing at least fifteen (15) days prior to the filing of any registration statement under the Securities Act for purposes of a public offering of securities of the
Company (including, but not limited to, registration statements relating to secondary offerings of securities of the Company, but excluding Special Registration Statements and Special Form S-3) and will afford each such Holder an opportunity to
include in such registration statement all or part of such Registrable Securities held by such Holder. Each Holder desiring to include in any such registration statement all or any part of the Registrable Securities held by it shall, within fifteen
(15) days after the above-described notice from the Company, so notify the Company in writing. Such notice shall state the intended method of disposition of the Registrable Securities by such Holder. If a Holder decides not to include all of its
Registrable Securities in any registration statement thereafter filed by the Company, such Holder shall nevertheless continue to have the right to include any Registrable Securities in any subsequent registration statement or registration statements
as may be filed by the Company with respect to offerings of its securities, all upon the terms and conditions set forth herein. 
  
 (a) Underwriting. If the registration statement under which the Company gives notice under this Section 2.3 is for an underwritten offering, the
Company shall so advise the Holders of Registrable Securities. In such event, the right of any such Holder to be included in a registration pursuant to this Section 2.3 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 Registrable Securities through such underwriting shall enter into an underwriting agreement
in customary form with the underwriter or underwriters selected for such underwriting by the Company. Notwithstanding any other provision of the Agreement, if the underwriter determines 

  

 9. 

 
in good faith that marketing factors require a limitation of the number of shares to be underwritten, the number of shares that may be included in the
underwriting shall be allocated, first, to the Company; second, to the Holders on a pro rata basis based on the total number of Registrable Securities held by the Holders; and third, to any shareholder of the Company (other than a Holder) on
a pro rata basis. No such reduction shall (i) reduce the amount of securities of the selling Holders included in the registration below twenty-five percent (25%) of the total amount of securities included in such registration, unless such
offering is the Initial Offering and such registration does not include shares of any other selling shareholders, in which event any or all of the Registrable Securities of the Holders may be excluded in accordance with the immediately preceding
sentence. If any Holder disapproves of the terms of any such underwriting, such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter, delivered at least ten (10) business days prior to the effective date of the
registration statement. Any Registrable Securities excluded or withdrawn from such underwriting shall be excluded and withdrawn from the registration. For any Holder which is a partnership or corporation, the partners, retired partners and
shareholders of such Holder, or the estates and family members of any such partners and retired partners and any trusts for the benefit of any of the foregoing person shall be deemed to be a single “Holder,” and any pro rata
reduction with respect to such “Holder” shall be based upon the aggregate amount of shares carrying registration rights owned by all entities and individuals included in such “Holder,” as defined in this sentence. 
  
 (b) Right to Terminate Registration. The Company shall have the right
to terminate or withdraw any registration initiated by it under this Section 2.3 prior to the effectiveness of such registration whether or not any Holder has elected to include securities in such registration. The Registration Expenses of such
withdrawn registration shall be borne by the Company in accordance with Section 2.6 hereof. 
  
 2.4 Form S-3 Registration. In case the Company shall receive from any Holder or Holders of Registrable Securities a written request or requests that the Company effect a registration on Form S-3 (or any
successor to Form S-3) or any similar short-form registration statement 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 of Registrable Securities; and 
  
 (b) as soon as 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 2.4:

  
 (i) if Form S-3 is not available for such offering by
the Holders, or 
  

 10. 

 (ii) 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 that does not exceed one million dollars ($1,000,000), or 
  
 (iii) if within thirty (30) days of receipt of a written request from
any Holder or Holders pursuant to this Section 2.4, the Company gives notice to such Holder or Holders of the Company’s intention to make a public offering within ninety (90) days (other than pursuant to a Special Registration Statement);
provided that the Company is actively employing in good faith all reasonable efforts to cause such registration statement to become effective, or 
  
 (iv) if the Company shall furnish to the Holders a certificate signed by the Chairman of the Board of Directors of the Company stating that in the
good faith judgment of the Board of Directors of the Company, it would be seriously detrimental to the Company and its shareholders for such Form S-3 registration to be effected at such time, 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 2.4; provided, that such right to delay a request shall be exercised by
the Company not more than once in any twelve (12) month period, or 
  
 (v) 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. 
  
 (c) Subject to the foregoing, the Company shall file a Form S-3
registration statement covering the Registrable Securities and other securities so requested to be registered as soon as practicable after receipt of the request or requests of the Holders. Registrations effected pursuant to this Section 2.4 shall
not be counted as demands for registration or registrations effected pursuant to Sections 2.2 or 2.3, respectively. 
  
 2.5 Special Form S-3 Registration. 
  
 (a) At least sixty (60) days prior to the date on which Centaur reasonably expects that the Release Conditions will be satisfied, Centaur shall
deliver to the Company a Resale Query. Notwithstanding the foregoing, within twenty (20) days after the date on which the Company reasonably forms an expectation that a Change in Control will be closed and that the Company Release Conditions will be
satisfied, the Company shall deliver a Company Resale Restrictions Response without any Resale Query having been delivered by Centaur, provided, however, that any obligation undertaken by the Company in such Company Resale Restrictions Response may
be conditioned upon the closing of such contemplated Change in Control. 
  
 (b) Within twenty (20) days from actual delivery of the Resale Query, the Company shall provide Centaur the Company Resale Restrictions Response. Whether delivered in response to a Resale Query or otherwise pursuant to Section 2.5(a)
above, the Company Resale Restrictions Response shall describe which of the position(s), if any, set forth in Sections 1.2(j)(A) and 1.2(j)(B) herein the Company will take (or whether it will take both positions) and the Company will commit in
writing to Centaur at the same time to take all reasonable actions 

  

 11. 

 
necessary to facilitate the resale of shares of Asset Purchase Stock to the public without registration by Centaur Bridge Note Holders, Centaur and the
Centaur LLC Members, as applicable, consistent with the position(s) taken in the Company Resale Restrictions Response, including, without limitation, having its legal counsel provide any necessary opinion letters to the Company’s transfer agent
to permit such resales to be effected provided that the Centaur Bridge Note Holders, Centaur or the Centaur LLC Members, as the case may be, provide to the Company’s legal counsel and transfer agent such reasonably necessary certificates
requested by legal counsel or the transfer agent. 
  
 (c)
If, in the Company Resale Restrictions Response, the Company does not agree to permit the resale of shares of Asset Purchase Stock by Centaur Bridge Note Holders and Centaur as contemplated in Section 1.2(j)(A) herein, then, provided that
Form S-3 is available for such offering by Centaur Bridge Note Holders and Centaur, the Company shall file a Special Form S-3 for such shares for the benefit of those Centaur Bridge Note Holders who elect to participate in such resale and for
the benefit of Centaur. The Company shall use reasonable efforts to cause such registration statement to become effective within thirty (30) days following the first date following satisfaction of the Release Conditions that it is eligible to use
Form S-3. The Company shall use reasonable efforts to cause itself to be eligible to register resales of its stock on Form S-3 as of the one (1) year anniversary of its Initial Offering (on the same terms as are set forth in this Agreement). All
Centaur Bridge Note Holders shall be given written notice of their right to participate in such registration by the Company at least thirty (30) days prior to the effective date of the registration. The foregoing registration statement shall be kept
effective for one hundred twenty (120) days and, except to the extent otherwise expressly set forth in this Section 2.5, shall be subject to the same limitations applicable to registration statements set forth in this Agreement. 
  
 (d) If, in the Company Resale Restrictions Response, the Company does
not agree to permit the resale of shares of Asset Purchase Stock by Centaur LLC Members as contemplated in Section 1.2(j)(B) herein, then, provided that Form S-3 is available for such offering by Centaur LLC Members, the Company shall file a Special
Form S-3 for such shares for the benefit of those Centaur LLC Members who elect to participate in such resale. The Company shall use reasonable efforts to cause such Special Form S-3 to become effective within thirty (30) days following the first
date following satisfaction of the Release Conditions that it is eligible to use Form S-3. The Company shall use reasonable efforts to cause itself to be eligible to register resales of its stock on Form S-3 as of the one (1) year anniversary of its
Initial Offering (on the same terms as are set forth in this Agreement). Notwithstanding anything to the contrary in Section 2.11, all Centaur LLC Members (without regard to how many shares of Centaur’s stock they held prior to the LLC Merger,
or how many shares of Asset Purchase Stock they may hold (or be entitled to receive) upon the LLC Distribution Date) shall be given written notice of their right to participate in the registration at least thirty (30) days prior to the effective
date of such registration statement at the addresses listed on Exhibit C hereof (or at the addresses otherwise provided in writing to the Company by Centaur), provided, however, that in no event shall a Centaur LLC Member be entitled to the
rights of a Holder under any Section of this Agreement other than this Section 2.5, unless such rights have been assigned to such Centaur LLC Member pursuant to Section 2.11. The registration statement shall be kept effective for one hundred twenty
(120) days and shall, except to the extent otherwise expressly set forth in this Section 2.5, otherwise be subject to the same limitations set forth this Agreement. The Company 

  

 12. 

 
shall add Centaur LLC Members to such registration statement as selling stockholders thereunder after the LLC Distribution Date (and thus after the date of
effectiveness of the registration statement) by filing one or more prospectus amendments, or post-effective supplements, as the case may be, during the remainder of the 120 day period in which such registration statement is required to be kept
effective. The registration shall, except to the extent otherwise expressly set forth in this Section 2.5, otherwise be subject to the same limitations set forth in this Agreement except for the limitation set forth in Section 2.11 limiting the
registration rights to holders of greater than 150,000 Registrable Securities. If the Company is also registering resales by Centaur Bridge Note Holders or Centaur pursuant to a Special Form S-3 pursuant to Section 2.5(c) above, then such
registration statements may, at the Company’s election, be combined into one registration statement. 
  
 (e) In the event that the Company is required to effect a Special Form S-3 for either the Centaur Bridge Note Holders, Centaur, the Centaur LLC
Members, or any of them, then the Company shall promptly notify all Centaur Bridge Note Holders and Centaur in writing of the fact that such registration statement has been filed with the SEC. At least ten (10) days prior to the date on which the
registration statement becomes effective, the Company shall notify each of the Centaur Bridge Note Holders, Centaur and (to the extent that a Special Form S-3 is required for Centaur LLC Members) each of the Centaur LLC Members in writing at the
addresses listed on Exhibit C hereof (or at the addresses otherwise provided in writing to the Company by Centaur) of the date on which such registration statement on Form S-3 is expected become effective (the “Notice of Effectiveness”)
and their right to participate in such registration. 
  
 (f) Within five (5) days following delivery of such Notice of Effectiveness, any Centaur Bridge Note Holders wishing to participate in such registration must notify the Company and Centaur in writing of their election to participate
in such registration (the “Note Holder Registration Election”). Centaur also must notify the Company of its election to participate, if at all, within the same time period. Any party timely electing to participate in such Special Form S-3
shall promptly take all steps and provide all information reasonably requested by the Company to effect their participation in such registration. 
  
 (g) If Centaur LLC Members also have registration rights pursuant to this Section 2.5, then any Centaur LLC Members wishing to participate in such
registration must notify the Company and Centaur in writing of their election to participate within sixty (60) days following delivery of the Notice of Effectiveness. Each of the Centaur LLC Members timely electing to participate in such Special
Form S-3 shall promptly take all steps and provide all information reasonably requested by the Company to effect their participation in such registration. 
  
 2.6 Expenses of Registration. Except as specifically provided herein, all Registration Expenses incurred in connection with any registration,
qualification or compliance pursuant to Section 2.2 or any registration under Section 2.3, Section 2.4 or 2.5 herein shall be borne by the Company. All Selling Expenses incurred in connection with any registrations hereunder shall be borne by the
holders of the securities so registered pro rata on the basis of the number of shares so registered. The Company shall not, however, be required to pay for expenses of any registration proceeding begun pursuant to Section 2.2 or 2.4,
the request of 

  

 13. 

 
which has been subsequently withdrawn by the Initiating Holders unless (a) the withdrawal is based upon material adverse information concerning the Company
of which the Initiating Holders were not aware at the time of such request or (b) if the registration is pursuant to Section 2.2, the Holders of a majority of Registrable Securities agree to forfeit their right to one requested registration pursuant
to Section 2.2, in which event such right shall be forfeited by all Holders. If the Holders are required to pay the Registration Expenses, such expenses shall be borne by the holders of securities (including Registrable Securities) requesting such
registration in proportion to the number of shares for which registration was requested. If the Company is required to pay the Registration Expenses of a withdrawn offering pursuant to clause (a) above, then the Holders shall not forfeit their
rights pursuant to Section 2.2 or Section 2.4 to a demand registration. 
  
 2.7 Obligations of the Company. Whenever required 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 all
reasonable 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 up to ninety (90)
days or, if earlier, until the Holder or Holders have completed the distribution related thereto; provided, however, that at any time, upon written notice to the participating Holders and for a period not to exceed sixty (60) days thereafter
(the “Suspension Period”), the Company may delay or suspend the effectiveness of any registration statement (and the Initiating Holders hereby agree not to offer or sell any Registrable Securities pursuant to such registration statement
during the Suspension Period) if the Company reasonably believes that the Company may, in the absence of such delay or suspension hereunder, be required under state or federal securities laws to disclose any corporate development (the disclosure of
which could reasonably be expected to have a material adverse effect upon the Company, its stockholders, a potentially significant transaction or event involving the Company) or any negotiations, discussions or proposals directly relating thereto.
In the event that the Company shall exercise its right to delay or suspend the effectiveness of a registration hereunder, the applicable time period during which the registration statement is to remain effective shall be extended by a period of time
equal to the duration of the Suspension Period. If so directed by the Company, the Initiating Holders shall use their best efforts to deliver to the Company (at the Company’s expense) all copies, other than permanent file copies then in such
Initiating Holders’ possession, of the prospectus relating to such Registrable Securities current at the time of receipt of such notice. The Company shall not be required to file, cause to become effective or maintain the effectiveness of any
registration statement that contemplates a distribution of securities on a delayed or continuous basis pursuant to Rule 415 under the Securities Act. 
  
 (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 the period set forth in paragraph (a) above. 
  

 14. 

 (c) Furnish to the Holders such number 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. 
  
 (d) Use its reasonable 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. 
  
 (e) In the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and
customary form, with the managing underwriter(s) of such offering. Each Holder participating in such underwriting shall also enter into and perform its obligations under such an agreement. 
  
 (f) Notify each Holder of Registrable Securities covered by such
registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect,
includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. The Company will use
reasonable efforts to amend or supplement such prospectus in order to cause such prospectus not to include any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein not misleading in the light of the circumstances then existing. 
  
 (g) Use its reasonable efforts to furnish, on the date that such Registrable Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters, (i) an opinion, dated as of 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 the underwriters, if any, and (ii) a letter dated as of 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. 

 
 (h) Furnish promptly to each Holder a copy of the registration
statement or any amendment or supplement thereto. 
  
 (i)
Use its reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of a registration statement or the lifting of any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities
for sale in any jurisdiction, at the earliest possible moment. 
  
 (j) Notify the Holders, promptly in writing (i) when a prospectus, any prospectus supplement, a registration statement or a post-effective amendment to a registration statement has been filed with the SEC, and with respect to the
registration statement or any post- 

  

 15. 

 
effective amendment, when the same has become effective and (ii) of any request by the SEC or any other federal or state governmental authority or any stop
order suspending the effectiveness of the registration statement or the initiation or threatening of any proceeding for such purpose. 
  
 2.8 Termination of Registration Rights. All registration rights granted under this Section 2 shall terminate and be of no further force and effect
five (5) years after the later of (i) the date of the Company’s Initial Offering and (ii) the date on which all Preferred Stock is converted to Common Stock. In addition, a Holder’s registration rights shall expire if (a) the Company has
completed its Initial Offering and is subject to the provisions of the Exchange Act, (b) such Holder (together with its affiliates, partners and former partners) holds less than 1% of the Company’s outstanding Common Stock (treating all shares
of convertible Preferred Stock on an as converted basis) and (c) all Registrable Securities held by and issuable to such Holder (and its affiliates, partners, former partners, members and former members) may be sold under Rule 144(k) during any
ninety (90) day period. 
  
 2.9 Delay of Registration;
Furnishing Information. 
  
 (a) No Holder shall have
any right to obtain or seek an injunction restraining or otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 
  
 (b) It shall be a condition precedent to the obligations of the
Company to take any action pursuant to Section 2.2, 2.3, 2.4 or 2.5 that the selling Holders shall furnish to the Company such information regarding themselves, the Registrable Securities held by them and the intended method of disposition of such
securities as shall be required to effect the registration of their Registrable Securities. 
  
 (c) The Company shall have no obligation with respect to any registration requested pursuant to Section 2.2 or Section 2.4 if, due to the operation of subsection 2.2(b), the number of shares or the anticipated
aggregate offering price of the Registrable Securities to be included in the registration does not equal or exceed the number of shares or the anticipated aggregate offering price required to originally trigger the Company’s obligation to
initiate such registration as specified in Section 2.2 or Section 2.4, whichever is applicable. 
  
 2.10 Indemnification. In the event any Registrable Securities are included in a registration statement under Sections 2.2, 2.3, 2.4 or 2.5:

  
 (a) To the extent permitted by law, the Company will
indemnify and hold harmless each Holder, the partners, officers and directors of 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 losses, claims, damages or liabilities (joint or several) to which they 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 (collectively a “Violation”) by the Company: (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 

  

 16. 

 
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 the Company 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 in connection with the offering covered by such registration statement; and the Company will pay as incurred to each such Holder, partner, officer, director, underwriter or controlling person for any legal or other
expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided however, that the indemnity agreement contained in this Section 2.10(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 by such Holder, partner, officer, director, underwriter
or controlling person of such Holder under an instrument duly executed by such person and stated to be specifically for use in connection with such registration. 
  
 (b) To the extent permitted by law, each Holder will, if Registrable Securities held by such Holder are included in
the securities as to which such registration qualifications or compliance is being effected, indemnify and hold harmless the Company, each of its directors, its officers and each person, if any, who controls the Company within the meaning of the
Securities Act, any underwriter and any other Holder selling securities under such registration statement or any of such other Holder’s partners, directors or officers or any person who controls such Holder, against any losses, claims, damages
or liabilities (joint or several) to which the Company or any such director, officer, controlling person, underwriter or other such Holder, or partner, director, officer or controlling person of such other Holder 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 under an instrument duly executed by such Holder and stated to be specifically for use in connection with such registration; and each
such Holder will pay as incurred any legal or other expenses reasonably incurred by the Company or any such director, officer, controlling person, underwriter or other Holder, or partner, officer, director or controlling person of such other Holder
in connection with investigating or defending any such loss, claim, damage, liability or action if it is judicially determined that there was such a Violation; provided, however, that the indemnity agreement contained in this Section 2.10(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 Section 2.10 exceed the net proceeds from the offering received by such Holder. 
  
 (c) Promptly after receipt by an indemnified party under this Section 2.10 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 2.10, deliver to the indemnifying party a written notice of the commencement 

  

 17. 

 
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, than an indemnified party shall have the right to retain its own counsel, with the fees and expenses to
be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party
represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if materially prejudicial to its ability to defend such action, shall
relieve such indemnifying party of any liability to the indemnified party under this Section 2.10, 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 2.10. 
  
 (d) If the
indemnification provided for in this Section 2.10 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any losses, claims, damages or liabilities referred to herein, the indemnifying party, in lieu
of indemnifying such indemnified party thereunder, shall to the extent permitted by applicable law contribute to the amount paid or payable by such indemnified party as a result of such loss, claim, damage or liability 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 Violation(s) that resulted in such loss, claim, damage or liability, as well as any other relevant
equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by a court of law by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the
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, that in no event shall any contribution by a Holder hereunder exceed the net proceeds from the offering received by such Holder. 
  
 (e) The obligations of the Company and Holders under this Section 2.10 shall survive completion of any offering of Registrable Securities in a
registration statement and the termination of this agreement. No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the consent of each Indemnified Party, consent to entry of any judgment or enter into any
settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect to such claim or litigation. 
  
 2.11 Assignment of Registration Rights. The rights to cause the
Company to register Registrable Securities pursuant to this Section 2 may only be assigned by a Holder to a transferee or assignee of Registrable Securities which (a) is a subsidiary, parent, general partner, limited partner, retired partner, member
or retired member of a Holder, (b) is a Holder’s family member or trust for the benefit of an individual Holder, (c) acquires all shares of Preferred Stock held by a Holder if such assignee is a single entity, (d) acquires at least five hundred
thousand (500,000) shares of Registrable Securities (as adjusted for stock splits and combinations), (e) is an affiliated entity of HBM BioVentures (Cayman) Ltd., (f) is an affiliated entity of Biomedicine L.P. or (g) is an affiliated entity of
any of V-Sciences Investments Pte Ltd., Priceworth Investments 

  

 18. 

 
Limited, Vertex Technology Fund (III) Ltd. or Vertex Life Science Inc. Notwithstanding the foregoing, LLC may (notwithstanding the five hundred thousand
(500,000) share limitation set forth in (d) of the preceding sentence) transfer or assign the rights under this Section 2 only to a party to whom it is permitted to transfer Shares, or Registrable Securities under this Agreement and the Asset
Purchase Agreement after all conditions precedent are met, which transferee (i) is one of the Centaur Bridge Note Holders listed on Exhibit B hereto, or an assignee of an original Centaur Bridge Note Holder’s entire interest in such Centaur
Bridge Note, provided that notice of such assignment has been provided to the Company within thirty (30) days of such assignment, or (ii) acquires at least one hundred fifty thousand (150,000) shares of Registrable Securities (as adjusted for stock
splits and combinations), subject to such transferee in either case agreeing to be bound by the terms and conditions of this Agreement as a “Holder” hereunder, provided, however, that a transferee of rights from LLC under this
Section 2.11 shall not be entitled to re-assign such rights except in accordance with subsections (a), (b) or (d) of this Section 2.11, and provided further, that a transferee of rights from LLC under this Section 2.11 shall have only
the rights and privileges of a “Holder” as were enjoyed by LLC under this Agreement. Upon a transfer or assignment under this Section 2.11, (i) the transferor shall, within ten (10) days after such transfer or assignment, furnish to the
Company 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 and (ii) such transferee or assignee shall agree to be subject to all restrictions set
forth in this Agreement. 
  
 2.12 Amendment of Registration
Rights. Any provision of this Section 2 may be amended and the observance thereof may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the
Holders of at least a majority of the Registrable Securities then outstanding; provided, however, that without the written consent of the Holders of at least a majority of the Asset Purchase Stock no such amendment or waiver shall be effective with
respect to the rights or obligations hereunder of Centaur or LLC (or their permitted assigns) to the extent that it affects the express rights or obligations of Centaur or LLC hereunder in a manner different from the effect on the express rights or
obligations of other Holders. Any amendment or waiver effected in accordance with this Section 2.12 shall be binding upon each Holder and the Company. By acceptance of any benefits under this Section 2, Holders of Registrable Securities hereby agree
to be bound by the provisions hereunder. 
  
 2.13 Limitation on
Subsequent Registration Rights. Other than as provided in Section 5.11, after the date of this Agreement, the Company shall not, without the prior written consent of the Holders of at least a majority of the Registrable Securities then
outstanding, enter into any agreement with any holder or prospective holder of any securities of the Company that would grant such holder registration rights pari passu or senior to those granted to the Holders hereunder. 
  
 2.14 “Market
Stand-Off” Agreement; Agreement to Furnish Information. Each Holder hereby agrees that such Holder shall not sell, transfer, make any short sale of, grant any option for the purchase of, or enter into
any hedging or similar transaction with the same economic effect as a sale, any Common Stock (or other securities) of the Company held by such Holder (other than those included in the registration) for a period specified by the representative of the
underwriters of Common Stock (or other securities) of the Company not to exceed one hundred eighty (180) days following the effective date of a registration statement of the Company filed under the Securities Act; provided that: 

 
 (i) such agreement shall apply only to the Company’s Initial
Offering; and 
  
 (ii) all officers and directors of the
Company and holders of at least five percent (5%) of the Company’s voting securities enter into similar agreements. 
  

 19. 

 Each Holder agrees to execute and deliver such other agreements as may be reasonably requested by the
Company or the underwriter which are consistent with the foregoing or which are necessary to give further effect thereto. In addition, if requested by the Company or the representative of the underwriters of Common Stock (or other securities) of the
Company, each Holder shall provide, within ten (10) days of such request, such information as may be required by the Company or such representative in connection with the completion of any public offering of the Company’s securities pursuant to
a registration statement filed under the Securities Act. The obligations described in this Section 2.14 shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that may be promulgated in
the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4 or similar forms that may be promulgated in the future. The Company may impose stop-transfer instructions with respect to the shares of Common Stock (or
other securities) subject to the foregoing restriction until the end of said one hundred eighty (180) day period. Each Holder agrees that any transferee of any shares of Registrable Securities shall be bound by Sections 2.14 and 2.15. The
underwriters of the Company’s stock are intended third party beneficiaries of Sections 2.14 and 2.15 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Nothing in this Section 2.14
shall prevent a Holder from transferring any Common Stock to any partner or former partner of the Holder during any “market stand-off” period. 
  
 2.15 Rule 144 Reporting. With a view to making available to the Holders the benefits of certain rules and regulations of the SEC which may permit
the sale of the Registrable Securities to the public without registration, the Company agrees to use its best efforts to: 
  
 (a) Make and keep public information available, as those terms are understood and defined in SEC Rule 144 or any similar or analogous rule
promulgated under the Securities Act, at all times after the effective date of the first registration filed by the Company for an offering of its securities to the general public; 
  
 (b) File with the SEC, in a timely manner, all reports and other documents required of the Company under the Exchange
Act; and 
  
 (c) So long as a Holder owns any Registrable
Securities, furnish to such Holder forthwith upon request: a written statement by the Company as to its compliance with the reporting requirements of said Rule 144 of the Securities Act, and of the Exchange Act (at any time after it has become
subject to such reporting requirements); a copy of the most recent annual or quarterly report of the Company; and such other reports and documents as a Holder may reasonably request in availing itself of any rule or regulation of the SEC allowing it
to sell any such securities without registration. 

  

 20. 

 SECTION 3. COVENANTS OF THE COMPANY. 
  
 3.1. Basic Financial Information and Reporting. 
  
 (a) The Company will maintain true books and records of account in which full and correct entries will be made of all
its business transactions pursuant to a system of accounting established and administered in accordance with generally accepted accounting principles consistently applied, and will set aside on its books all such proper accruals and reserves as
shall be required under generally accepted accounting principles consistently applied. 
  
 (b) As soon as practicable after the end of each fiscal year of the Company, and in any event within one hundred twenty (120) days thereafter, the Company will furnish each Major Investor (as defined below) a
balance sheet of the Company, as at the end of such fiscal year, and a statement of income and a statement of cash flows of the Company, for such year, all prepared in accordance with generally accepted accounting principles consistently applied and
setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail. Such financial statements shall be accompanied by a report and opinion thereon by independent public accountants of national standing
selected by the Company’s Board of Directors. 
  
 (c)
The Company will furnish each Major Investor, as soon as practicable after the end of the first, second and third quarterly accounting periods in each fiscal year of the Company, and in any event within forty-five (45) days thereafter, a balance
sheet of the Company as of the end of each such quarterly period, and a statement of income and a statement of cash flows of the Company for such period and for the current fiscal year to date, including a comparison to plan figures for such period,
prepared in accordance with generally accepted accounting principles, with the exception that no notes need be attached to such statements and year-end audit adjustments may not have been made. 
  
 (d) So long as an Investor (with its affiliates) shall own not less
than one million (1,000,000) shares of Registrable Securities (as adjusted for stock splits and combinations) (a “Major Investor”), the Company will furnish each such Major Investor (i) at least thirty (30) days prior to the beginning of
each fiscal year an annual budget and operating plans for such fiscal year as approved by the Company’s Board of Directors (and as soon as available, any subsequent revisions thereto); and (ii) as soon as practicable after the end of each
month, and in any event within twenty (20) days thereafter, a balance sheet of the Company as of the end of each such month, and a statement of income and a statement of cash flows of the Company for such month and for the current fiscal year to
date, prepared in accordance with generally accepted accounting principles consistently applied, with the exception that no notes need be attached to such statements and year-end audit adjustments may not have been made. 
  
 3.2 Inspection Rights. Each Major Investor shall have the right to
visit and inspect any of the properties of the Company or any of its subsidiaries, and to discuss the affairs, finances and accounts of the Company or any of its subsidiaries with its officers, and to review 

  

 21. 

 
such information as is reasonably requested all at such reasonable times and as often as may be reasonably requested; provided, however, that the
Company shall not be obligated under this Section 3.2 with respect to a competitor of the Company or with respect to information which the Board of Directors determines in good faith is confidential and should not, therefore, be disclosed.

  
 3.3 Confidentiality of Records. Each Investor agrees to
use, and to use its best efforts to insure that its authorized representatives use, the same degree of care as such Investor uses to protect its own confidential information to keep confidential any information furnished to it which the Company
identifies as being confidential or proprietary (so long as such information is not in the public domain), except that such Investor may disclose such proprietary or confidential information to any partner, subsidiary or parent of such Investor for
the purpose of evaluating its investment in the Company as long as such partner, subsidiary or parent is advised of the confidentiality provisions of this Section 3.3. 
  
 3.4 Reservation of Common Stock. The Company will at all times reserve and keep available, solely for issuance and
delivery upon the conversion of the Preferred Stock, all Common Stock issuable from time to time upon such conversion. 
  
 3.5 Stock Vesting. Unless otherwise approved by the Board of Directors, all stock options and other stock equivalents issued after the date of this
Agreement to employees, directors, consultants and other service providers shall be subject to vesting as follows: (a) one quarter (1/4) of such stock shall vest at the end of the first year of continuous service to the Company following the earlier
of the date of issuance or such person’s services commencement date with the Company, and (b) one forty-eighth (1/48) of such stock shall vest monthly for each month of continuous service thereafter. With respect to any shares of stock
purchased by any such person, the Company’s repurchase option shall provide that upon such person’s termination of employment or service with the Company, with or without cause, the Company or its assignee (to the extent permissible under
applicable securities laws and other laws) shall have the option to purchase at cost any unvested shares of stock held by such person. 
  
 3.6 Proprietary Information and Inventions Agreement. The Company shall require all employees and officers to execute and deliver a Proprietary
Information and Inventions Agreement substantially in the form attached to the Purchase Agreement. 
  
 3.7 Qualified Small Business. For so long as any of the Shares are held by an Investor (or a transferee in whose hands such Shares are eligible to
qualify as “Qualified Small Business Stock” as defined in Section 1202(c) of the Internal Revenue Code of 1986, as amended (the “Code”)), the Company will use its reasonable efforts to comply with the reporting and recordkeeping
requirements of Section 1202 of the Code, any regulations promulgated thereunder and any similar state laws and regulations. 
  
 3.8 Termination of Covenants. All covenants of the Company contained in Section 3 of this Agreement shall expire and terminate as to each Investor
upon the earlier of (i) the effective date of the registration statement pertaining to the Initial Offering, which results in the Preferred Stock being converted into Common Stock or (ii) upon a Change in Control. 
  

 22. 

 3.9 Compensation and Reimbursement of Directors. The Company shall reimburse all reasonable
expenses of members of the Board of Directors relating to attending board meetings and providing services to the Company. 
  
 SECTION 4. RIGHTS OF FIRST REFUSAL. 
  
 4.1 Subsequent Offerings. Each Major Investor, other than Centaur, LLC, or their transferees or assignees (which are expressly excluded from
this Section 4), shall have a right of first refusal to purchase its pro rata share of all Equity Securities, as defined below, that the Company may, from time to time, propose to sell and issue after the date of this Agreement, other than
the Equity Securities excluded by Section 4.6 hereof. Each Major Investor’s pro rata share is equal to the ratio of (a) the number of shares of the Company’s Common Stock (including all shares of Common Stock issued or issuable upon
conversion of the Shares) which such Investor is deemed to be a holder immediately prior to the issuance of such Equity Securities to (b) the total number of shares of the Company’s outstanding Common Stock (including all shares of Common Stock
issued or issuable upon conversion of the Shares or upon the exercise of any outstanding warrants or options) immediately prior to the issuance of the Equity Securities. The term “Equity Securities” shall mean (i) any Common Stock,
Preferred Stock or other security of the Company, (ii) any security convertible, with or without consideration, into any Common Stock, Preferred Stock or other security (including any option to purchase such a convertible security), (iii) any
security carrying any warrant or right to subscribe to or purchase any Common Stock, Preferred Stock or other security or (iv) any such warrant or right. 
  
 4.2 Exercise of Rights. If the Company proposes to issue any Equity Securities, it shall give each Investor written notice of its intention,
describing the Equity Securities, the price and the terms and conditions upon which the Company proposes to issue the same. Each Investor shall have fifteen (15) business days from the giving of such notice to agree to purchase its pro rata
share of the Equity Securities for the price and upon the terms and conditions specified in the notice by giving written notice to the Company and stating therein the quantity of Equity Securities to be purchased. Notwithstanding the foregoing, the
Company shall not be required to offer or sell such Equity Securities to any Investor who would cause the Company to be in violation of applicable federal securities laws by virtue of such offer or sale. 
  
 4.3 Issuance of Equity Securities to Other Persons. If not all
of the Investors elect to purchase their pro rata share of the Equity Securities, then the Company shall promptly notify in writing the Investors who do so elect and shall offer such Investors the right to acquire such unsubscribed shares.
The Investors shall have five (5) business days after receipt of such notice to notify the Company of its election to purchase all or a portion thereof of the unsubscribed shares. If the Investors fail to exercise in full the rights of first
refusal, the Company shall have ninety (90) days thereafter to sell the Equity Securities in respect of which the Investors’ rights were not exercised, at a price and upon general terms and conditions materially no more favorable to the
purchasers thereof than specified in the Company’s notice to the Investors pursuant to Section 4.2 hereof. If the Company has not sold such Equity Securities within ninety (90) days of the notice provided pursuant to Section 4.2, the Company
shall not thereafter issue or sell any Equity Securities, without first offering such securities to the Investors in the manner provided above. 
  

 23. 

 4.4 Termination and Waiver of Rights of First Refusal. The rights of first refusal
established by this Section 4 shall not apply to, and shall terminate upon the earlier of (i) effective date of the registration statement pertaining to the Company’s Initial Offering or (ii) a Change in Control. The rights of first refusal
established by this Section 4 may be amended, or any provision waived with the written consent of Investors holding a majority of the Registrable Securities held by all Investors, or as permitted by Section 5.6. 
  
 4.5 Transfer of Rights of First Refusal. The rights of first
refusal of each Investor under this Section 4 may be transferred to the same parties, subject to the same restrictions, as any transfer of registration rights pursuant to Section 2.11; provided, however, that with respect to any
particular issuance of Equity Securities that the Company may make that is subject to the rights of first refusal in this Article 4, an Investor may transfer its rights of first refusal applicable to such issuance to no more than one subsidiary,
parent or affiliate that is actually controlled by or under common control with the Investor, general partner, limited partner, retired partner, member, shareholder or retired member of such Investor. 
  
 4.6 Excluded Securities. The rights of first refusal
established by this Section 4 shall have no application to any of the following Equity Securities: 
  
 (a) shares of Common Stock issued upon conversion of the Shares; 
  
 (b) shares of Common Stock and/or options, warrants or other Common Stock purchase rights, and the Common Stock
issued pursuant to such options, warrants or other rights (as adjusted for any stock dividends, combinations, splits, recapitalizations and the like) issued after the Filing Date (as defined in the Company’s Certificate of Incorporation) to
employees, officers or directors of, or consultants or advisors to the Company or any subsidiary, pursuant to stock purchase or stock option plans or other arrangements that are approved by the Board of Directors; 
  
 (c) shares of Common Stock issued pursuant to the exercise of options,
warrants or convertible securities outstanding as of the Filing Date; 
  
 (d) shares of Common Stock and/or options, warrants or other Common Stock purchase rights, and the Common Stock issued pursuant to such options, warrants or other rights issued for consideration other than cash pursuant to a merger,
consolidation, acquisition or similar business combination approved by the Board of Directors; 
  
 (e) shares of Common Stock issued in connection with any stock split, stock dividend or recapitalization by the Company; 
  

(f) shares of Common Stock issued pursuant to any equipment leasing arrangement, or debt financing from a bank or similar financial institution
approved by the Board of Directors; 
  
 (g) shares of
Common Stock issued to one or more corporate partners, universities, institutions or other licensors in connection with technology licensing agreements with such entities that are approved by the Board of Directors; 
  

 24. 

 (h) shares of Common Stock or Preferred Stock issued to third-party service providers or other
parties in exchange for or as partial consideration for services rendered to the Company, if approved by the Board of Directors; 
  
 (i) any Equity Securities that are issued by the Company pursuant to a registration statement filed under the Securities Act; 
  
 (j) any Equity Securities issued in connection with strategic
transactions involving the Company and other entities, including (i) joint ventures, manufacturing, marketing or distribution arrangements or (ii) technology transfer or development arrangements; provided that such strategic transactions and the
issuance of shares therein, has been approved by the Board of Directors; and 
  
 (k) shares of Series E Preferred Stock sold pursuant to the Purchase Agreement. 
  
 4.7 Amendment of First Refusal Rights. Any provision of this Section 4 may be amended and the observance thereof may be waived (either
generally or in a particular instance and either retroactively or prospectively) only with the written consent of the Company and the holders of at least a majority of the Shares held by all Major Investors and their transferees pursuant to Section
4.5. 
  
 SECTION 5. MISCELLANEOUS. 
  
 5.1 Governing Law. This Agreement shall be governed by and
construed under the laws of the State of California as applied to agreements among California residents entered into and to be performed entirely within California. 
  
 5.2 Survival. The representations, warranties, covenants, and agreements made herein shall survive any
investigation made by any Holder and the closing of the transactions contemplated hereby. All statements as to factual matters contained in any certificate or other instrument delivered by or on behalf of the Company pursuant hereto in connection
with the transactions contemplated hereby shall be deemed to be representations and warranties by the Company hereunder solely as of the date of such certificate or instrument. 
  
 5.3 Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure
to the benefit of, and be binding upon, the successors, assigns, heirs, executors, and administrators of the parties hereto and shall inure to the benefit of and be enforceable by each person who shall be a holder of Registrable Securities from time
to time; provided, however, that prior to the receipt by the Company of adequate written notice of the transfer of any Registrable Securities specifying the full name and address of the transferee, the Company may deem and treat the person
listed as the holder of such shares in its records as the absolute owner and holder of such shares for all purposes, including the payment of dividends or any redemption price. 
  
 5.4 Entire Agreement. This Agreement, the Exhibits and Schedules hereto, the Purchase Agreement and the other
documents delivered pursuant thereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and no party shall be liable or bound to any other in any manner by any representations,
warranties, covenants and agreements except as specifically set forth herein and therein. 

  

 25. 

 5.5 Severability. In the event one or more of the provisions of this Agreement should, for
any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal
or unenforceable provision had never been contained herein. 
  
 5.6 Amendment and Waiver. 
  
 (a) Except
as otherwise expressly provided (including without limitation in Sections 2.11 and 4.7), this Agreement may be amended or modified only upon the written consent of the Company and the Holders of at least a majority of the Registrable Securities;
provided, however, that without the written consent of the Holders of at least a majority of the Asset Purchase Stock, no such amendment shall be effective with respect to the rights or obligations hereunder of Centaur or LLC to the extent that (i)
it affects the express rights set forth in Section 2.5, or (ii) otherwise affects the express rights or obligations of Centaur or LLC hereunder in a manner different from the effect on the express rights or obligations of other Holders. 

 
 (b) Except as otherwise expressly provided (including, without
limitation, in Sections 2.12 and 4.7), the obligations of the Company and the rights of the Holders under this Agreement may be waived only with the written consent of the holders of at least a majority of the Registrable Securities; provided,
however, that without the written consent of Centaur or LLC, no such waiver shall be effective with respect to the rights or obligations hereunder of Centaur or LLC to the extent that (i) it affects the express rights set forth in Section 2.5, or
(ii) otherwise affects the express rights or obligations of Centaur or LLC hereunder in a manner different from the effect on the express rights or obligations of other Holders. 
  
 (c) For the purposes of determining the number of Holder or Investors entitled to vote or exercise any rights
hereunder, the Company shall be entitled to rely solely on the list of record holders of its stock as maintained by or on behalf of the Company. 
  
 5.7 Delays or Omissions. It is agreed that no delay or omission to exercise any right, power, or remedy accruing to any Holder, upon any
breach, default or noncompliance of the Company under this Agreement shall impair any such right, power, or remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of any similar
breach, default or noncompliance thereafter occurring. It is further agreed that any waiver, permit, consent, or approval of any kind or character on any Holder’s part of any breach, default or noncompliance under the Agreement or any waiver on
such Holder’s part 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, by law, or otherwise afforded
to Holders, shall be cumulative and not alternative. 
  
 5.8 Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent 

  

 26. 

 
by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; if not, 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) business 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 party to be notified at the address as set forth on the signature pages hereof or Exhibit A hereto or at such other address as such party may designate by ten (10) days advance written notice to the
other parties hereto; provided, however, that registered or certified mail shall be not used to effectuate any such notice to any such addressee located outside the United States. 
  
 5.9 Attorneys’ Fees. In the event that any suit or action
is instituted to enforce any provision in this Agreement, the prevailing party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to
this Agreement, including, without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals. 
  
 5.10 Titles and Subtitles. The titles of the sections and
subsections of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. 
  
 5.11 Additional Investors. Notwithstanding anything to the contrary contained herein, if the Company shall issue Equity Securities in
accordance with Section 4.6 (d), (f), (g) or (h) of this Agreement, any purchaser of such Equity Securities may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement and shall be
deemed an “Investor” hereunder. 
  
 5.12
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. 
  
 [THIS SPACE INTENTIONALLY LEFT BLANK] 
  

 27. 

 IN WITNESS WHEREOF, the parties hereto have executed
this AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 
  

	RENOVIS, INC.
		
	By:	 	 /s/ Corey Goodman

	 	

	 	 	 Corey Goodman
 President and
 Chief Executive Officer

  
 270 Littlefield Avenue 
 South San Francisco, California 94080 

	EASTON HUNT CAPITAL PARTNERS, L.P.
		
	 By:
	 	 EHC, GP, L.P.

	 	 	 Its General Partner

		
	 By:
	 	 EHC, Inc.

	 	 	 Its General Partner

		
	 Signature:
	 	 /s/ Mark D. Chen

	 Name:
	 	 Mark D. Chen

		
	 Title:
	 	 Managing Director

  

	HEALTHCAP IV, KB
	
	 By: HealthCap IV GP AB, Its General Partner

			
	 Signature:
	 	 /s/ Per Samuelsson

	 	 /s/ A. Forberg

	 Name:
	 	 Per Samuelsson
	 	 A. Forberg

			
	 Title:
	 	 PARTNER
	 	 Partner

  

  

	HEALTHCAP IV, L.P.
	
	 By: HealthCap GP SA, Its General Partner

			
	 Signature:
	 	 /s/ Francois Kaiser

	 	 /s/ H. Hillerstrom

	 Name:
	 	 Francois Kaiser
	 	 H. Hillerstrom

			
	 Title:
	 	 Director
	 	 Authorized Signatory

  

	HEALTHCAP IV BIS, L.P.
	
	 By: HealthCap GP SA, Its General Partner

			
	 Signature:
	 	 /s/ Francois Kaiser

	 	     /s/ H. Hillerstrom

	 Name:
	 	 Francois Kaiser
	 	H. Hillerstrom 
			
	 Title:
	 	 Director
	 	     Authorised Signatory

  
  

	OFCO CLUB IV
	
	 By: Odlander, Fredrikson & Co AB,
 Its Member

			
	 Signature:
	 	 /s/ Per Samuelsson

	 	 /s/ A. Forsberg

	 Name:
	 	 Per Samuelsson
	 	 A. Forsberg

			
	 Title:
	 	 PARTNER
	 	 Partner

	 INVUS, L.P.

		
	 Signature:
	 	 /s/ S. Lainovic

	 Name:
	 	 S. Lainovic

		
	 Title:
	 	EVP Invus Advisor, L.L.C., The General Partner of Invus, L.P.
	
	CDIB BIOSCIENCE VENTURES I, INC.
		
	 Signature:
	 	 /s/ Benny T. Hu

	 Name:  Benny T. Hu

	
	 Title:  Chairman

	
	 SINGAPORE BIO-INNOVATIONS PTE.
LTD.

		
	 Signature:
	 	 /s/ Chu Swee Yeok

	 Name:
	 	 Chu Swee Yeok

		
	 Title:
	 	 Director

	 HITACHI – CSK INTERNET BUSINESS
FUND

		
	 By:
	 	 CSK Venture Capital Co., Ltd.

	 	 	 Its General Partner

  

	 Signature:
	 	 /s/ Shunichi Ishimura

	 	 	 Shunichi Ishimura

	 	 	 President of CSK Venture Capital

	 	 	 Co., Ltd. Acting as General Partner

  

	ORIX FUND NO. 7
		
	 Signature:
	 	 /s/ Tsutomu Matsuzaki

	 	 	 Tsutomu Matsuzaki

	 	 	 President, ORIX Capital

	 	 	 Corporation, General Partner of

	 	 	 ORIX Fund No.7

	
	ORIX FUND NO. 8
		
	 Signature:
	 	 /s/ Tsutomu Matsuzaki

	 	 	 Tsutomu Matsuzaki, President,

	 	 	 ORIX Capital Corporation,

	 	 	 Executive Partner of ORIX Fund

	 	 	 No.8

	MIZUHO CAPITAL CO., LTD.
		
	 Signature:
	 	 /s/ Osamu Kita

	 	 	 Osamu Kita

	 	 	 President

	
	 MIZUHO CAPITAL NO.1 LIMITED
 PARTNERSHIP

	
	 By: Mizuho Capital Co., Ltd.
 Its General Partner

		
	 Signature:
	 	 /s/ Osamu Kita

	 	 	 Osamu Kita

	 	 	 President of Mizuho Capital Co.,

	 	 	 Ltd. Acting as General Partner

  

	
	 Alta BioPharma Partners II, L.P.

	 By: Alta BioPharma Management Partners II, LLC

		
	 By:
	 	 /s/ Farah Champsi

	 	 	Farah Champsi
	 	 	Managing Director

	 Alta Embarcadero BioPharma Partners II, LLC

		
	 By:
	 	 /s/ Farah Champsi

	 	 	Farah Champsi
	 	 	Member

  

	
	 Alta California Prrtners II, L.P.

	 By:
	 	 Alta California Management Partners II, LLC

	 	 	 its General Partner

		
	 By:
	 	 /s/ Hilary Strain

	 	 	Hilary Strain
	 	 	Member

  

		
	 	 	 Alta Embarcadero Partners II, LLC

			
	 	 	 By:
	 	 /s/ Hilary Strain

	 	 	 	 	Hilary Strain
	 	 	 	 	Under Power of Attorney

	VENROCK ASSOCIATES
		
	 Signature:
	 	 /s/ Anthony B. Evnin

	 	 	 Anthony B. Evnin

	 	 	 General Partner

	
	VENROCK ASSOCIATES III, L.P.
	
	 By: Venrock Management III LLC,
 Its General Partner

		
	 Signature:
	 	 /s/ Anthony B. Evnin

	 	 	 Anthony B. Evnin

	 	 	 Member

  

	VENROCK ENTREPRENEURS FUND III, L.P.
	
	 By: VEF Management III LLC,
 Its General Partner

		
	 Signature:
	 	 /s/ Anthony B. Evnin

	 	 	 Anthony B. Evnin

	 	 	 Member

	 MDS LIFE SCIENCES TECHNOLOGY FUND II NC
 LIMITED PARTNERSHIP

	
	 By: MDS LSTF II (NCGP) Inc.
 Its General Partner

		
	 Signature:
	 	 /s/ Michael Callaghan

	 Name:
	 	 Michael Callaghan

		
	 Title:
	 	 Vice-President

		
	 Signature:
	 	 /s/ Graysanne Bedell

	 Name:
	 	 Graysanne Bedell

		
	 Title:
	 	 Secretary

  

	 MDS LIFE SCIENCES TECHNOLOGY FUND II
 QUEBEC LIMITED PARTNERSHIP

	
	 By: MDS LSTF II (QGP) Inc.
 Its General Partner

		
	 Signature:
	 	 /s/ Jean Christophe Renonoin

	 Name:
	 	 Jean Christophe Renonoin

		
	 Title:
	 	 Vice-President

		
	 Signature:
	 	 /s/ Graysanne Bedell

	 Name:
	 	 Graysanne Bedell

		
	 Title:
	 	 Secretary

  

	 MLII CO-INVESTMENT FUND NC
LIMITED

	 PARTNERSHIP

	
	 By: MLII (NCGP) Inc.

	 Its General Partner

		
	 Signature:
	 	 /s/ Michael Callaghan

	 Name:
	 	 Michael Callaghan

		
	 Title:
	 	 Vice-President

		
	 Signature:
	 	 /s/ Graysanne Bedell

	 Name:
	 	 Graysanne Bedell

		
	 Title:
	 	 Secretary

	 SC BIOTECHNOLOGY DEVELOPMENT FUND
LP

	
	 By: SC Biotechnology Development Fund LP

	 Its General Partner, SC(GP) Inc.

			
	 Signature:
	 	 /s/ Eve Wilson

	  	 /s/ Richard Douglas

	 Name:
	 	 Eve Wilson

	  	 Richard Douglas

		
	 Title:
	 	Authorized Signatories of Cardinal Investments Limited
	 	 	 Director of SC(GP) Inc.

	
	 SKYLINE VENTURE PARTNERS
QUALIFIED

	 PURCHASER FUND II, L.P.
	  	 
		
	 By:
	 	 Skyline Venture Management II, LLC

	 	 	 Its General Partner
	  	 
		
	 By:
	 	 /s/ Yasunori Kaneko

	 	 	 Yasunori Kaneko
	  	 
	 	 	 Managing Director
	  	 
	
	 SKYLINE VENTURE PARTNERS II, L.P.

		
	 By:
	 	 Skyline Venture Management II, LLC

	 	 	 Its General Partner
	  	 
		
	 By:
	 	 /s/ Yasunori Kaneko

	 	 	 Yasunori Kaneko
	  	 
	 	 	 Managing Director
	  	 

	 SKYLINE EXPANSION FUND, L.P.

		
	 By:
	 	 Skyline Expansion Management, LLC

	 	 	 Its General Partner

		
	 By:
	 	 /s/ Yasunori Kaneko

	 	 	 Yasunori Kaneko

	 	 	 Managing Member

  

	 HBM BIOVENTURES (CAYMAN) LTD.

		
	 Signature:
	 	 /s/ John Arnold

	 	 	 John Arnold

	 	 	 Chairman and Managing Director

  

	 DE NOVO VENTURES I, L.P.

	
	 By: De Novo Management LLC

	 Its General Partner

		
	 Signature:
	 	 /s/ Fred Dotzler

	 	 	 Fred Dotzler

	 	 	 Managing Director

	
	 DE NOVO (Q) VENTURES I, L.P.

	
	 By: De Novo Management LLC

	 Its General Partner

		
	 Signature:
	 	 /s/ Fred Dotzler

	 	 	 Fred Dotzler

	 	 	 Managing Director

  

	 THE YASUDA ENTERPRISE DEVELOPMENT I,
L.P.

	
	 By: Yasuda Enterprise Development Co., Ltd.

	 Its General Partner

		
	 Signature:
	 	 /s/ Minoru Oka

	 	 	 Minoru Oka

	 	 	 President and Representative Director

  

	 V-SCIENCES INVESTMENTS PTE
LTD

		
	 By:
	 	 /s/ S Iswaran

	 Name:
	 	 Mr S Iswaran

		
	 Title:
	 	 Director

	
	 PRICEWORTH INVESTMENTS LIMITED

		
	 By:
	 	 /s/ Boey Keng Chew

	 Name:
	 	 Boey Keng Chew

		
	 Title:
	 	 Director

  

	 INVESTOR:

	
	 VERTEX TECHNOLOGY FUND (III)
LTD

		
	 By:
	 	 /s/ Lee Kheng Nam

		
	 Name:
	 	 Lee Kheng Nam

		
	 Title:
	 	 Director

	
	 VERTEX LIFE SCIENCE
INC

		
	 By:
	 	 /s/ Sim Mong Tee

	 Name:
	 	 Sim Mong Tee

		
	 Title:
	 	 Director

	 BIOVEDA FUND PTE
LTD

	
	 By: BioVeda Capital Pte Ltd,

	 Its Investment Manager

		
	 Signature:
	 	 /s/ Damien Lim

	 	 	 Damien Lim

	 	 	 General Partner

	
	 APPLIED GENOMIC TECHNOLOGY CAPITAL FUND, L.P.

	
	 By: AGTC Partners, L.P.,

	 Its General Partner

	
	 By: NewcoGen Group Inc.,

	 Its General Partner

		
	 Signature:
	 	 /s/ Nouban B. Afeyan

	 	 	 Nouban B. Afeyan

	
	 AGTC ADVISORS FUND, L.P.

	
	 By: AGTC Partners, L.P.,

	 Its General Partner

	
	 By: NewcoGen Group Inc.,

	 Its General Partner

		
	 Signature:
	 	 /s/ Nouban B. Afeyan

	 	 	 Nouban B. Afeyan

	 	 	 President

	 BIOMEDICINE L.P.

	
	 By: International BM Biomedicine Holdings

	 (Cayman) Ltd.,

	 Its General Partner

		
	 Signature:
	 	 /s/ Gaudenz I. Staehelin

	 	 	 Dr. Gaudenz I. Staehelin

	 	 	 Chairman

		
	 Signature:
	 	 /s/ Philip J. Sutcliffe

	 	 	 Philip J. Sutcliffe

	 	 	 Managing Director

  

	 FRANK A. BONSAL, JR.

	
	 /s/ Frank A. Bonsal, Jr.

  

	 /s/ Peter O. Crisp

	 PETER O. CRISP

	 CENTPHARM LLC

	
	 By: /s/ John P. Walker

	 John P. Walker

	 Equity Manager

  

	EMBASSY & CO.
		
	 By:
	 	 /s/ Kimberly Davidson

	 Name:
	 	 Kimberly Davidson for US Bank

	 	 	 National Association

		
	 Title:
	 	 Trust Officer

  

	GOODMAN FAMILY TRUST, UDT 1/31/01
		
	 Signature:
	 	 /s/ Corey S. Goodman

	 	 	 Corey S. Goodman

	 	 	 Trustee

	MARC TESSIER-LAVIGNE
	
	 /s/ Marc Tessier-Lavigne

  

	SERAFINI FAMILY TRUST U/A/D 2/8/98
		
	 Signature:
	 	 /s/ Tito A. Serafini

	 	 	 Tito A. Serafini

	 	 	 TrusteeEquipment Loan and Security Agreement

 Exhibit 4.3 
  
 EQUIPMENT LOAN AND SECURITY AGREEMENT 
  

	 Agreement No.             
	 	Dated as of April 27, 2001

  
 by and among 

 
 GATX VENTURES, INC. 
 as agent and a lender 
  
 TRANSAMERICA COMMERCIAL FINANCE CORPORATION 
 as a lender 
  
 and 
  
 RENOVIS, INC. 
 747 Fifty-Second Street 
 Oakland, CA 94609 
  
 as borrower 
  
 CREDIT
AMOUNT: $4,000,000 
  

	 	  	 	 	Commitment Amount

	  	Commitment Percentage

	 GATX Ventures, Inc.
	  	 	 	$2,000,000	  	50%
	 Transamerica Commercial Finance
	  	 	 	$2,000,000	  	50%
	 Corporation
	  	 	 	 	  	 
	 Repayment Period:
	  	36 months	 	 	  	 
				
	 Treasury Note Maturity:
	  	36 months	 	 	  	 
				
	 Loan Margin:
	  	390 basis points	 	 	  	 
				
	 Final Payment Percentage:
	  	7%	 	 	  	 

  
 Commitment Termination Date:
July 31, 2001, subject to the terms and conditions of Section 2.1(a) 
  
 The
terms and information set forth on this cover page are a part of the attached Loan and Security Agreement, dated as of the date first written above (this “Agreement”), entered into by and among GATX Ventures, Inc.
(“GV”), in its individual capacity, Transamerica Commercial Finance Corporation (“TTFC”), in its individual capacity, (each individually a “Lender” and collectively, “Lenders”), GV
as agent, not individually, TTFC, and Renovis, Inc. (“Borrower”). The terms and conditions of this Agreement agreed to between the parties hereto are as follows: 
  

 AGREEMENT 
  
 1. Definitions and Construction. 
  
 1.1 Definitions. As used in this Agreement, the following terms shall have the following definitions: 
  
 “Affiliate” means any Person that owns or controls
directly or indirectly ten percent or more of the stock of another entity, any Person that controls or is controlled by or is under common control with such Persons or any Affiliate of such Persons or each of such Person’s officers, directors,
joint venturers or partners. 
  
 “Agent”
means GV, not in its individual capacity, but solely in its capacity as agent on behalf of and for the benefit of Lenders and any successor agent. 
  
 “Agent’s Expenses” means all reasonable costs or expenses (including reasonable attorneys’ fees and expenses) incurred in
connection with the preparation, negotiation, documentation, administration, funding, and enforcement of the Loan Documents; and Agent’s reasonable attorneys’ fees and expenses incurred in amending, enforcing or defending the Loan
Documents, (including fees and expenses of appeal or review, or those incurred in any insolvency proceeding) whether or not suit is brought. 
  
 “Agreement” shall mean this Loan and Security Agreement, as the same may from time to time be amended or supplemented. 

 
 “All-in Rate” means the per annum rate of interest
at which the Scheduled Payments and the Final Payment amortize the Loan. 
  
 “Basic Rate” means, as of the relevant Funding Date, the per annum rate of interest (based on a year of twelve 30-day months) equal to the sum of (a) the U.S. Treasury note yield to maturity for a term equal to
the Treasury Note Maturity as quoted in the Western edition of The Wall Street Journal on the date the Loan Agreement Supplement is prepared, plus (b) the Loan Margin. Notwithstanding the foregoing, the Basic Rate shall not exceed the highest rate
permitted by applicable law to be charged on commercial loans. 
  
 “Borrower” shall have the meaning set forth on the cover page hereof. 
  
 “Borrower’s Home State” shall mean California. 
  
 “Business Day” means any day that is not a Saturday, Sunday, or other day on which banking
institutions are authorized or required to close in California or Borrower’s Home State. 
  
 “Closing Date” means the date that each of the conditions precedent listed in Section 3.1 has been satisfied or waived in
writing by Lenders. 
  
 “Code” means the
Uniform Commercial Code as adopted and in effect in the State of California, as amended from time to time. 
  

 2 

 “Collateral” has the meaning given that term in Section 4.1, including,
without limitation, all Financed Equipment listed in any Loan Agreement Supplement executed from time to time pursuant to Section 4.2. 
  
 “Commitment Termination Date” means the date following such term on the cover page of this Agreement. 
  
 “Commitment” or “Commitment Amount” means
with respect to each Lender the amount set forth following such term on the cover page of this Agreement under the column titled “Commitment Amount” and “Commitments” means all such amounts collectively. 
  
 “Commitment Percentage” means with respect to each
Lender, the percentage set forth on the cover page of this Agreement under the column titled “Commitment Percentage.” 
  
 “Credit Amount” means the amount set forth following such term on the cover page of this Agreement. 
  
 “Default” means any event which with the passing of
time or the giving of notice or both would become an Event of Default hereunder. 
  
 “Default Rate” means the per annum rate of interest equal to 5% over the All-in Rate, but such rate shall in no event be more than
the highest rate permitted by applicable law to be charged on commercial loans. 
  
 “Disclosure Schedule” means Exhibit A attached hereto. 
  
 “Eligible Equipment” shall mean, to the extent reasonably acceptable to Lenders, Equipment consisting
of computer equipment, office equipment, lab equipment, test equipment and furnishings delivered to Borrower by the manufacturer or vendor not more than ninety (90) days prior to the Funding Date of the Loan relating to such Equipment (or delivered
on or after August 25, 2000, in the case of Equipment financed with the proceeds of the first Loan advanced under this Agreement). 
  
 “Environmental Claims” means all claims, however asserted, by any Governmental Authority or other Person alleging potential
liability or responsibility for violation of any Environmental Law or for release or injury to the environment or threat to public health, personal injury (including sickness, disease or death), property damage, natural resources damage, or
otherwise alleging liability or responsibility for damages (punitive or otherwise), cleanup, removal, remedial or response costs, restitution, civil or criminal penalties, injunctive relief, or other type of relief, resulting from or based upon (a)
the presence, placement, discharge, emission or release (including intentional and unintentional, negligent and non-negligent, sudden or non-sudden, accidental or non-accidental placement, spills, leaks, discharges, emissions or releases) of any
Hazardous Material at, in, or from Property, whether or not owned by Borrower, or (b) any other circumstances forming the basis of any violation, or alleged violation, of any Environmental Law. 
  
 “Environmental Laws” means all foreign, federal, state
or local laws, statutes, common law duties, rules, regulations, ordinances and codes, together with all administrative orders, 

  

 3 

 
directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authorities, in each case relating to environmental, health,
safety and land use matters, including the Comprehensive Environmental Response, Compensation and Liability Act of 1980, the Clean Air Act, the Federal Water Pollution Control Act of 1972, the Solid Waste Disposal Act, the Federal Resource
Conservation and Recovery Act, the Toxic Substances Control Act and the Emergency Planning and Community Right-to-Know Act. 
  
 “Equipment” has the meaning given to such term in Section 4.1. 
  
 “Equity Securities” of any Person shall mean (a) all common stock, preferred stock, participations,
shares, partnership interests or other equity interests in and of such Person (regardless of how designated and whether or not voting or non-voting) and (b) all warrants, options and other rights to acquire any of the foregoing. 
  
 “Event of Default” has the meaning given to such term
in Section 8. 
  
 “Event of Loss”
has the meaning given to that term in Section 6.10. 
  
 “Final Payment” means, with respect to each Loan, a payment (in addition to and not in substitution for the regular monthly payments of principal and accrued interest) due on the Maturity Date for such Loan equal to the
Loan Amount for such Loan at such time multiplied by the Final Payment Percentage. 
  
 “Final Payment Percentage” means the percentage set forth following such terms on the cover page of this Agreement. 
  
 “Financed Equipment” has the meaning given to that
term in Exhibit A to any Loan Agreement Supplement, as amended or supplemented from time to time. 
  
 “Funding Date” means any date on which a Loan is made to or on account of Borrower under this Agreement. 
  
 “Governmental Authority” means (a) any federal, state,
county, municipal or foreign government, or political subdivision thereof, (b) any governmental or quasi-governmental agency, authority, board, bureau, commission, department, instrumentality or public body, (c) any court or administrative tribunal
or (d) with respect to any Person, any arbitration tribunal or other non-governmental authority to whose jurisdiction that Person has consented. 
  
 “GV” means GATX Ventures, Inc. 
  
 “Hazardous Materials” means all those substances which are regulated by, or which may form the basis of liability under, any
Environmental Law, including all substances identified under any Environmental Law as a pollutant, contaminant, hazardous waste, hazardous constituent, special waste, hazardous substance, hazardous material, or toxic substance, or petroleum or
petroleum derived substance or waste. 
  
 “Interim
Payment” means, with respect to each Loan, an amount equal to the initial Loan Amount multiplied by the percentage equal to the product of (i) the quotient derived from 

  

 4 

 
dividing the initial Loan Factor with respect to such Loan by 30, and (ii) the number of days from (and including) the Funding Date of such Loan to (but not including)
the first Payment Date with respect to such Loan. 
  
 “Landlord Agreement” means an agreement substantially in the form of Exhibit E or such other form as Lenders may agree to accept. 
  
 “Lenders” shall have the meaning set forth on the cover page hereof. 
  
 “Lenders’ Expenses” means all reasonable costs or
expenses (including reasonable attorneys’ fees and expenses) incurred in connection with the preparation, negotiation, documentation, administration, funding, and enforcement of the Loan Documents; and Lenders’ reasonable attorneys’
fees and expenses incurred in amending, modifying, enforcing or defending the Loan Documents, including the exercise of any rights or remedies afforded hereunder or under applicable law, whether or not suit is brought. 
  
 “Lien” means any security interest, pledge, bailment,
lease, mortgage, hypothecation, conditional sales and title retention agreement, encumbrance or other lien with respect to the Property in favor of any Person. 
  

“Loan” means each advance of credit by Lenders to Borrower under this Agreement in accordance with their Commitment Percentage.

  
 “Loan Agreement Supplement”. means a
supplement to this Agreement in substantially the form of Exhibit C. 
  
 “Loan Amount” means, with respect to each Loan, as of any date, the original principal amount of such Loan less prepayments of such Loan paid pursuant to Section 6.10. 
  
 “Loan Documents” means, collectively, this Agreement,
each Loan Agreement Supplement, the Warrants, the Landlord Agreement, any Service Provider’s Consent and all other documents, instruments and agreements entered into in connection with this Agreement, all as amended or extended from time to
time. 
  
 “Loan Factor” means, with respect
to each Loan, the amount set forth as a percentage in the Loan Terms Schedule with respect to such Loan, which fully amortizes the Loan over the Repayment Period applicable to such Loan in equal periodic installments at the Basic Rate. 

 
 “Loan Margin” means the number of basis points set
forth following such terms on the cover page of this Agreement. 
  
 “Loan Terms Schedule” means, with respect to each Loan, Annex B to the Loan Agreement Supplement prepared by Lenders in connection with such Loan. 
  
 “Maturity Date” means, with respect to each Loan, the last day of the Repayment Period for such Loan,
or if earlier, the date of acceleration of such Loan by Lenders following an Event of Default. 
  

 5 

 “Merger Event” shall have the meaning given to such term in Section 7.6.

  
 “Minimum Funding Amount” means
$100,000. 
  
 “Obligations” means all debt,
principal, interest, fees, charges, expenses and attorneys’ fees and costs and other amounts, obligations, covenants, and duties owing by Borrower to Lenders or Agent of any kind and description (whether pursuant to or evidenced by the Loan
Documents, or by any other agreement among Agent, Lenders and Borrower, and whether or not for the payment of money), whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, including the
principal, interest and Final Payment due with respect to the Loans, and further including all Lenders’ Expenses and Agent’s Expenses that Borrower is required to pay or reimburse by the Loan Documents, by law, or otherwise. 
  
 “Other Equipment” means, to the extent reasonably
acceptable to Lenders, tenant improvements and buildout costs, software, software licenses, tooling, equipment specially manufactured for Borrower, and freight, installation and sales taxes relating to Eligible Equipment and other soft costs.

  
 “Payment Date” has the meaning given to
that term in Section 2.2(a). 
  
 “Permitted
Liens” shall mean (a) the Lien created by this Agreement, (b) Liens for fees, taxes, levies, imposts, duties or other governmental charges of any kind which are not yet delinquent or which are being contested in good faith by appropriate
proceedings which suspend the collection thereof (provided, however, that such proceedings do not involve any substantial danger of the sale, forfeiture or loss of any item of Equipment financed with a Loan and that Borrower has
adequately bonded such Lien or reserves sufficient to discharge such Lien have been provided on the books of Borrower) and (c) mechanics’, repairmen’s or other similar Liens arising in the ordinary course of business which are not
delinquent or remain payable without penalty or which are being contested in good faith and by appropriate proceedings, which proceedings have the effect of preventing the forfeiture or sale of the property or asset subject to such Lien. 

 
 “Person” means and includes any individual, any
partnership, any corporation, any business trust, any joint stock company, any limited liability company, any unincorporated association or any other entity and any domestic or foreign national, state or local government, any political subdivision
thereof, and any department, agency, authority or bureau of any of the foregoing. 
  
 “Property” means any interest in any kind of property or asset, whether real, personal or mixed, whether tangible or intangible.

  
 “Repayment Period” means the period
beginning on the first Payment Date and continuing for the Repayment Period set forth following such term on the cover page of this Agreement. 
  
 “Scheduled Payments” has the meaning given to such term in Section 2.2(a). 
  

 6 

 “Service Provider’s Consent” means an agreement substantially in the form of
Exhibit F or such other form as Lenders may agree to accept. 
  
 “Stated Cost” means (i) with respect to Eligible Equipment, the original cost to Borrower of the item of Eligible Equipment excluding any and all freight, installation, taxes and other soft costs, and (ii) with
respect to Other Equipment, the original cost to Borrower of the item of Other Equipment including any and all freight, installation expenses and other soft costs; provided, however, if an item of Eligible Equipment (other than Eligible Equipment
financed with the proceeds of the first Loan advanced under this Agreement) or Other Equipment was purchased by Borrower more than 90 days prior to the Funding Date and Lenders agree to fund such item, the Stated Cost of such item shall be equal to
Lenders’ appraised value. 
  
 “Stipulated Loan
Value” means, with respect to each Loan, the Stipulated Loan Value Percentage set forth with respect to such Loan in the Loan Terms Schedule for such Loan, determined as of the Payment Date on which payment of such amount is to be made, or
if such date is not a Payment Date, on the Payment Date immediately succeeding such date, multiplied by the Loan Amount. 
  
 “Stipulated Loan Value Percentage” means, with respect to each Loan, the percentage set forth with respect to such Loan in the Loan
Terms Schedule for such Loan, determined as of the Payment Date on which payment of such amount is to be made, or if such date is not a Payment Date, on the Payment Date immediately succeeding such date and shall be equal at any point in time to the
present value of the remaining Scheduled Payments and the Final Payment discounted at six percent per annum, expressed as a percentage of the Loan Amount. 
  
 “Subsidiary” means any corporation of which a majority of the outstanding capital stock entitled to vote for the election of
directors (otherwise than as the result of a default) is owned by Borrower directly or indirectly through Subsidiaries. 
  
 “TTFC” means Transamerica Commercial Finance Corporation. 
  
 “Term” means the period from and after the date hereof until the payment in full of all amounts and
liabilities payable under this Agreement and the other Loan Documents, including principal and interest on the Loans and the Final Payment with respect to each Loan. 
  
 “Treasury Note Maturity” means the periods of months set forth following such terms on the cover page
of this Agreement. 
  
 “Warrants” means
separate warrants in favor of each of the Lenders to purchase securities of Borrower substantially in the form of Exhibit B. 
  
 1.2 Other Interpretive Provisions. References in this Agreement to “Articles,” “Sections,” “Exhibits,
“Schedules” and “Annexes” are to recitals, articles, sections, exhibits, schedules and annexes herein and hereto unless otherwise indicated. References in this Agreement and each of the other Loan Documents to any document,
instrument or agreement shall include (a) all exhibits, schedules, annexes and other attachments thereto, (b) all documents, instruments or agreements issued or executed in replacement thereof, and (c) such document, instrument or agreement, or
replacement or predecessor thereto, as amended, 

  

 7 

 
modified and supplemented from time to time and in effect at any given time. The words “hereof,” “herein” and “hereunder” and words of
similar import when used in this Agreement or any other Loan Document shall refer to this Agreement or such other Loan Document, as the case may be, as a whole and not to any particular provision of this Agreement or such other Loan Document, as the
case may be. The words “include” and “including” and words or similar import when used in this Agreement or any other Loan Document shall not be construed to be limiting or exclusive. Unless otherwise indicated in this Agreement
or any other Loan Document, all accounting terms used in this Agreement or any other Loan Document shall be construed, and all accounting and financial computations hereunder or thereunder shall be computed, in accordance with generally accepted
accounting principles as in effect in the United States of America from time to time. 
  
 2. Loans; Repayment. 
  
 2.1
Commitment. 
  
 (a) The Credit Amount.
Subject to the terms and conditions of this Agreement and relying upon the representations and warranties herein set forth as and when made or deemed to be made, Lenders agree to lend to Borrower, severally and not jointly, from time to time prior
to the Commitment Termination Date, the Loans according to each Lender’s pro rata share of the Credit Amount (based upon the respective Commitment of each Lender) of an amount equal to (i) one hundred percent (100%) of the Stated Cost of
Eligible Equipment, and (ii) one hundred percent (100%) of the Stated Cost of Other Equipment; provided that the aggregate principal amount of the Loans shall not exceed the Credit Amount at such time; provided further that the aggregate original
principal amount of all Loans relating to the financing of Other Equipment shall not at any time exceed twenty percent (20%) of the aggregate original principal amount of all Loans. Notwithstanding the foregoing, in the event that the Credit Amount
exceeds the aggregate principal amount of Loans advanced as of July 31, 2001, then, subject to the terms and conditions of this Agreement, the Commitment Termination Date shall be extended to September 30, 2001 with respect to such remaining
availability under the Credit Amount, provided, that if such remaining availability exceeds one million dollars ($1,000,000), then the aggregate Credit Amount shall be decreased to one million dollars ($1,000,000) for the period from August
1, 2001 to September 30, 2001. Loans may not be prepaid except in accordance with Section 2.5. 
  
 (b) Promissory Note. Each Loan Terms Schedule shall be considered a promissory note evidencing the amounts due hereunder for all purposes.

  
 (c) Use of Proceeds. The proceeds of the Loans
shall be used solely for the purchase of Eligible Equipment or Other Equipment or reimbursement to Borrower of the Stated Cost of Eligible Equipment or Other Equipment. 
  
 2.2 Scheduled Payments; Payment of Interest; Final Payment; Loan Fee. 
  
 (a) Scheduled Payments. Borrower shall make payments of
principal and accrued interest in advance for each Loan (collectively, “Scheduled Payments”) as set forth in the Loan Terms Schedule, commencing on the date set forth on the Loan Term Schedule 

  

 8 

 
applicable to such Loan and continuing thereafter during the Repayment Period on the first Business Day of each calendar month (each a “Payment
Date”), in an amount equal to the Loan Factor multiplied by the Loan Amount for such Loan as of such Payment Date. In any event, all unpaid principal and accrued interest shall be due and payable in full on the last Payment Date with
respect to such Loan. 
  
 (b) Interim Payment.
Unless the Funding Date for a Loan is a Payment Date, Borrower shall pay the Interim Payment payable with respect to such Loan on the Funding Date, as specified in the Loan Term Schedule applicable to such Loan. 
  
 (c) Final Payment. Unless a Loan is prepaid in full in
accordance with the terms of this Agreement, on the Maturity Date with respect to such Loan, Borrower shall pay, in addition to any unpaid Scheduled Payments, accrued and unpaid interest and all other amounts due on such date with respect to such
Loan, an amount equal to the Final Payment with respect to such Loan. 
  
 (d) Payment of Interest. Borrower shall pay interest on each Loan at a per annum rate of interest equal to the All-in Rate. All computations of interest on Loans shall be based on a year of twelve 30-day months.
Notwithstanding any other provision hereof, the amount of interest payable hereunder shall not in any event exceed the maximum amount permitted by the law applicable to interest charged on commercial loans. 
  
 (e) Termination of Commitment to Lend. Notwithstanding
anything in the Loan Documents, each Lender’s obligation to lend the undisbursed portion of the such Lender’s Commitment to Borrower hereunder shall terminate on the earlier of (i) at the Lenders’ sole election, the occurrence and
continuance of any Default or Event of Default hereunder, and (ii) the Commitment Termination Date. Notwithstanding the foregoing, each Lender’s obligation to lend the undisbursed portion of such Lender’s Commitment to Borrower shall
terminate if, in Lenders’ sole judgment made in good faith, there has been a material adverse change in the general affairs, management, results of operations, condition (financial or otherwise) or prospects of Borrower, whether or not arising
from transactions in the ordinary course of business, or there has been any material adverse deviation by Borrower from the business plan of Borrower presented to Lenders on the date of this Agreement. 
  
 2.3 Other Payment Terms. 
  
 (a) Place and Manner. Borrower shall make all payments due to
Agent or Lenders in lawful money of the United States at the address for payments and in the manner specified in Section 11. 
  
 (b) Date. Whenever any payment due hereunder shall fall due on a day other than a Business Day, such payment shall be made on the next
succeeding Business Day, and such extension of time shall be included in the computation of interest or fees, as the case may be. 
  
 (c) Default Rate. If either (i) any amounts required to be paid by Borrower under this Agreement or the other Loan Documents (including
Scheduled Payments, the Final Payment payable with respect to any Loan, accrued and unpaid interest and any fees or 

  

 9 

 
other amounts) remain unpaid after such amounts are due, or (ii) an Event of Default has occurred and is continuing, Borrower shall pay interest on the aggregate,
outstanding balance hereunder from the date due or from the date of the Event of Default, as applicable, until such past due amounts are paid in full or until all Events of Default are cured, as applicable, at a per annum rate equal to the Default
Rate. All computations of such interest shall be based on a year of twelve 30-day months. 
  
 2.4 Procedure for Making Loans. 
  
 (a) Notice. Whenever Borrower desires that Lenders make a Loan, Borrower shall be responsible for providing Agent with a list of equipment
proposed to be financed with such Loan together with such additional information with respect to the Loan and the Eligible Equipment and the Other Equipment as Agent shall reasonably request. Following the receipt by Agent of such information in
form and substance reasonably satisfactory to it, Agent shall notify Borrower that the conditions set forth in Sections 3.2(b) and 3.2(c) have been met and Borrower may then notify Agent in writing (or by telephone with prompt confirmation in
writing) of the date on which it desires Lenders to make such Loan. Such notice shall (i) be made at least five (5) Business Days in advance of the desired Funding Date, (ii) be irrevocable and (iii) request that Agent prepare a Loan Terms Schedule
for such Loan. Borrower’s execution and delivery to Agent of the Loan Agreement Supplement with the attached Loan Terms Schedule shall be Borrower’s agreement to the terms and calculations thereunder. Within two (2) Business Days following
receipt of such notice, Agent shall notify each Lender by telephone or facsimile of the principal amount (including such Lender’s Commitment Percentage thereof) and Funding Date of the Loan being requested by Borrower. Borrower’s request
for a Loan shall be deemed to be a representation and warranty by Borrower that no Default or Event of Default has occurred and is continuing, and that the representations and warranties set forth in Section 5 are true and correct as of the time of
such notice as if made at such time. Subject to the terms and conditions of this Agreement, as soon as practicable on the Funding Date specified in the Loan Terms Schedule, each Lender shall transfer an amount equal to its Commitment Percentage
multiplied by the amount of the Loan to the account specified in Section 2.4(c) in immediately available funds. Each Lender’s obligation to make its Commitment Percentage of the Loan shall be expressly subject to the satisfaction of the
conditions set forth in Sections 3.1 and 3.2. 
  
 (b)
Loan Factor and Stipulated Loan Value Calculation. Prior to each Funding Date, Agent, on behalf of Lenders, shall establish the Basic Rate, the Loan Factor, the All-in Rate and the Stipulated Loan Value Percentage with respect to such Loan,
which shall be set forth in the Loan Agreement Supplement to be executed by Borrower with respect to each Loan and shall be conclusive in the absence of a manifest error. 
  
 (c) Disbursement. Each Lender shall disburse its pro rata portion of such Loan by wire transfer to Borrower
unless otherwise directed in writing by Borrower. Notwithstanding anything stated herein to the contrary, no Lender shall have any obligation to advance funds on behalf of the other Lender. 
  

 10 

 2.5 Prepayments. 
  
 (a) Prepayment Upon an Event of Loss. If any Financed Equipment is subject to an Event of Loss and Borrower is
required to or elects to prepay the Loan with respect to such Financed Equipment, then such Loan shall be prepaid to the extent and in the manner provided in Section 6.10. 
  
 (b) Mandatory Prepayment Upon an Acceleration. If the Loans are accelerated following the occurrence of an
Event of Default or otherwise (other than following an Event of Loss), then Borrower shall immediately pay to Lenders (i) all accrued and unpaid Scheduled Payments with respect to each Loan due prior to the date of prepayment, (ii) any accrued and
unpaid interest, (iii) the Stipulated Loan Value with respect to each Loan, and (iv) all other sums, if any, that shall have become due and payable hereunder. 
  

(c) Optional Prepayment. Upon ten (10) Business Days’ prior written notice to Lender, Borrower may, at its option, prepay all, and
not less than all, of the Loans in full by paying to Lenders an amount equal to (i) all accrued and unpaid Scheduled Payments with respect to each Loan due on or prior to the date of prepayment; (ii) the sum of all remaining unpaid Scheduled
Payments discounted to present value to the date of prepayment at six percent (6%) per annum; (iii) the sum of all Final Payments discounted to present value to the date of prepayment at six percent (6%) per annum; and (v) all other sums, if any,
that shall have become due and payable hereunder. If an Event of Default occurs and is continuing, and the Lender exercises its right under Section 9.1 to accelerate the Loans or the Loans are automatically accelerated, Borrower expressly agrees
that the amount then due and payable shall be equal to (i) all accrued and unpaid Scheduled Payments on each Loan due on or prior to the date of acceleration; (ii) the Stipulated Loan Value of each Loan, and (iii) all other sums, if any, that shall
have become due and payable hereunder as of the date of such acceleration. Except as set forth in this Section 2.5, the Loans may not be prepaid. 
  
 (d) Optional Prepayment in connection with a Merger or Acquisition. In the event that Borrower requests the Lenders consent to a Merger
Event that would otherwise be prohibitted under Section 7.6 and if Lenders do not consent to such Merger Event, then Borrower may prepay all outstanding Loans under this Agreement without penalty or premium (prepayment of the Loan shall be satisfied
by receipt of the Lenders of all outstanding principal amounts, all unpaid but accrued interest and all other sums, if any, that shall have become due and payable hereunder as of the date of such prepayment). 
  
 2.6 Minimum Funding Amount; Maximum Number of Fundings. Except
with the prior consent of Lenders, in Lenders’ sole discretion, (i) there shall not be more than one funding of a Loan in any one calendar month; and (ii) the aggregate amount of the requested Loans shall not be less than the Minimum Funding
Amount, provided that if the available Commitment Amount is less than the Minimum Funding Amount, then the aggregate amount of such requested Loans shall not be less than the available Commitment Amount. 
  

 11 

 2.7 Commitment Fee; Facility Fee. 
  
 (a) Good Faith Deposit. Borrower has paid a good faith deposit
in the amount of Forty Thousand Dollars ($40,000) (the “Good Faith Deposit”). Any portion of the Good Faith Deposit not utilized to pay Agent’s expenses (such expenses shall not exceed $10,000 without the consent of the
Borrower) in connection with Agent’s due diligence and the negotiation, documentation and funding of the Loans will be divided between the Lenders and applied by each Lender to the final principal payment with respect to the Loans. If the Loans
are not made, any remaining balance of the Commitment Fee shall be retained by Lenders in proportion to their Commitments. 
  
 3. Conditions of Loans. 
  
 3.1 Conditions Precedent to Closing. At the time of the execution and delivery of this Agreement, the Lenders shall have received, in form
and substance reasonably satisfactory to Lenders, all of the following: 
  
 (a) This Agreement duly executed by Borrower and each of the Lenders. 
  
 (b) The separate Warrants to be issued to each Lender, each duly executed by Borrower. 
  
 (c) [intentionally omitted] 
  
 (d) A certificate of the secretary or assistant secretary of Borrower
with copies of the following documents attached: (i) the articles of incorporation and bylaws of Borrower certified by Borrower as being in full force and effect on the Closing Date, (ii) incumbency and representative signatures, and (iii)
resolutions authorizing the execution and delivery of this Agreement and each of the other Loan Documents. 
  
 (e) A good standing certificate from Borrower’s state of incorporation and the state in which Borrower’s principal place of business is
located, together with certificates of the applicable governmental authorities stating that Borrower is in compliance with the franchise tax laws of each such state, each dated as of a recent date. 
  
 (f) Evidence of the insurance coverage required by Section 6.9 of
this Agreement. 
  
 (g) All necessary consents of
shareholders and other third parties with respect to the execution, delivery and performance of this Agreement, the Warrants and the other Loan Documents. 
  
 (h) A legal opinion of Borrower’s counsel covering the matters set forth in Exhibit D hereto. 
  
 (i) Such other documents, and completion of such other matters, as
Lenders may deem reasonably necessary or appropriate. 
  

 12 

 3.2 Conditions Precedent to all Loans. The obligation of Lenders to make each Loan,
including the initial Loan, is further subject to the following conditions: 
  
 (a) No Default or Event of Default shall have occurred and be continuing. 
  
 (b) Borrower shall have provided to Agent, with respect to the Eligible Equipment which is requested to be financed with the proceeds of the Loan
to be made on such Funding Date, such invoices, purchase orders, bills of sale, serial numbers, agreements, canceled checks or bank statements, and other documents as Lenders shall reasonably request to evidence the ownership by Borrower, of, the
payment in full of the purchase price of such Eligible Equipment, each in form and substance reasonably satisfactory to Lenders 
  
 (c) Borrower shall have provided to Agent, with respect to the Other Equipment which is requested to be financed with the proceeds of the Loan to
be made on such Funding Date, such invoices, purchase orders, bills of sale, agreements, canceled checks or bank statements, and other documents as Lenders shall reasonably request to evidence the ownership by Borrower of, the payment in full of the
purchase price of such Other Equipment, each in form and substance reasonably satisfactory to Lenders. 
  
 (d) Borrower shall have provided Agent with the location of each item of Financed Equipment and a Landlord Agreement for each such location (unless
Borrower is the fee owner thereof) or a Service Provider’s Consent if Financed Equipment is located at a third party service provider, as appropriate, which has been duly executed by each of the parties thereto. 
  
 (e) Borrower, Agent and Lenders shall have executed a Loan Agreement
Supplement, including a Loan Terms Schedule and a list of Financed Equipment with respect to the proposed Loan. 
  
 (f) Agent shall have received such documents, instruments and agreements, including UCC financing statements or amendments to UCC financing
statements, as Agent shall reasonably request to evidence the perfection and priority of the security interests granted to Agent, on behalf of and for the benefit of Lenders, pursuant to Section 4. 
  
 (g) Borrower shall have delivered to Agent, on behalf of Lenders, a
release, or estoppel letter, as appropriate, from any Person having an existing Lien superior to the Lien of Lenders on any item of Eligible Equipment or Other Equipment which is requested to be financed. 
  
 (h) Such other documents, and completion of such other matters, as
Agent may deem reasonably necessary or appropriate. 
  
 3.3
Covenant to Deliver. Borrower agrees (not as a condition but as a covenant) to deliver to Agent each item required to be delivered to Agent and/or Lenders as a condition to each Loan, if such Loan is advanced. Borrower expressly agrees that
the extension of such Loan prior to the receipt by Agent or Lenders of any such item shall not constitute a waiver by Agent or Lenders of Borrower’s obligation to deliver such item, and any such extension in the absence of a required item shall
be in Lenders’ sole discretion. 
  

 13 

 4. Creation of Security Interest. 
  
 4.1 Grant of Security Interest. Borrower grants to Lenders, a valid, first priority, continuing security
interest in all presently existing and hereafter acquired or arising Collateral in order to secure prompt, full and complete payment of any and all Obligations and in order to secure prompt, full and complete performance by Borrower of each of its
covenants and duties under each of the Loan Documents. The “Collateral” shall mean and include all right, title, interest, claims and demands of Borrower in and to all of the following: 
  
 All right, title, interest, claims and demands of Borrower in and to
each and every item of equipment, fixtures or personal property, whether now owned or hereafter acquired, together with all substitutions, renewals or replacements of and additions, improvements, accessions, replacement parts and accumulations to
any and all of such equipment, fixtures or personal property (collectively, the “Equipment”), together with all proceeds thereof, including, without limitation, insurance, condemnation, requisition or similar payments, and all
proceeds from sales, renewals, releases or other dispositions thereof, which is financed with or is designated by Borrower as collateral for the Obligations on and after the date of this Agreement by designating such equipment, fixtures and personal
property on a UCC financing statement listing Borrower as “debtor” and Lenders or Agent as “secured party.” 
  
 4.2 After-Acquired Property. All Financed Equipment which is financed through Loans and any and all other Property generally described or
referred to as Collateral or Financed Equipment which is hereafter acquired by Borrower shall ipso facto, and without any further conveyance, assignment or act on the part of Borrower or Lenders, become and be subject to the security interest herein
granted as fully and completely as though specifically described herein. The list of Financed Equipment shall be amended and supplemented on each Funding Date by a Loan Agreement Supplement to incorporate all Financed Equipment financed with the
Loan advanced on such Funding Date; provided, however, the failure to so amend and supplement the list of Financed Equipment shall not affect the grant by Borrower to Lender of the security interest in such Financed Equipment pursuant to this
Section 4. This Agreement and the other documents in connection herewith may be otherwise supplemented and amended from time to time, as required by Lenders, to reflect additional Collateral to be subject to the security interest granted pursuant to
this Section 4. 
  
 4.3 Duration of Security
Interest. Lenders’ security interest in the Collateral shall continue until the payment in full and the satisfaction of all Obligations, whereupon such security interest shall terminate; provided, however, if any item of Financed Equipment
is subject to an Event of Loss, then following the prepayment of the Loan with respect to such item pursuant to Section 2.5, Lenders shall release their security interest in such item of Financed Equipment. Lenders shall, at Borrower’s sole
cost and expense, execute such further documents and take such further actions as may be reasonably necessary to effect the release contemplated by this Section 4.3, including duly executing and delivering termination statements for filing in all
relevant jurisdictions under the Code. 
  

 14 

 4.4 Location and Possession of Collateral. The Collateral is and shall remain in the
possession of Borrower at its location listed on the cover page hereof or such other location indicated on the applicable Loan Terms Schedule that is approved by Agent. For purposes of this Section 4.4, South San Francisco, California, shall be
deemed to be an approved location for purposes of this Agreement. Borrower shall remain in full possession, enjoyment and control of the Collateral (except only as may be otherwise required by Lenders for perfection of its security interest therein)
and so long as no Event of Default has occurred and is continuing, shall be entitled to manage, operate and use the same and each part thereof with the rights and franchises appertaining thereto; provided, however, that the possession
enjoyment, control and use of the Collateral shall at all time be subject to the observance and performance of the terms of this Agreement. 
  
 4.5 Markings on the Collateral. At Agent’s request at any time during the Term of the Loan (including any extension thereof), Borrower
shall place in a conspicuous location on each item of Financed Equipment a plaque or other marking to be supplied by Lenders which reads substantially as follows: 
  
 GATX VENTURES, INC. and TRANSAMERICA COMMERCIAL FINANCE CORPORATION, Lienholders. 
  
 Such plaque or other marking shall not be removed (or if removed or
damaged such plaque or other marking shall be replaced) until the security interest in favor of Lenders in such item of Collateral is terminated pursuant to this Agreement. 
  
 4.6 Delivery of Additional Documentation Required. Borrower shall from time to time execute and deliver to
Lenders, at the request of Lenders, all financing statements and other documents that Lenders may reasonably request, in form satisfactory to Lenders, to perfect and continue Lenders’ perfected security interests in the Collateral and in order
to consummate fully all of the transactions contemplated under the Loan Documents. 
  
 4.7 Right to Inspect. Each Lender (through any of its officers, employees, or agents) shall have the right, upon twenty-four (24) hours prior
notice, from time to time during Borrower’s usual business hours and in a manner which will not unreasonably interfere with Borrower’s business, to inspect Borrower’s books and records and to make copies thereof and to inspect, test,
and appraise the Collateral in order to verify Borrower’s financial condition or the amount, condition of, or any other matter relating to, the Collateral. 
  

5. Representations and Warranties. Except as set forth in the Disclosure Schedule, Borrower represents and warrants as follows: 
  
 5.1 Organization and Qualification. Borrower is a corporation
duly organized and validly existing and in good standing under the laws of its state of incorporation and qualified and licensed to do business in, and is in good standing in, any state in which the conduct of its business or its ownership of
Property requires that it be so qualified or in which the Collateral is located, except for such states as to which any failure to so qualify would not have a material adverse effect on Borrower. Borrower has no Subsidiaries. 
  

 15 

 5.2 Authority. Borrower has all necessary power and authority to execute, deliver, and
perform in accordance with the terms thereof, the Loan Documents to which it is a party. Borrower has all requisite power and authority to own and operate its properties and to carry on its businesses as now conducted. 
  
 5.3 Conflict with Other Instruments, etc. Neither the execution
and delivery of any Loan Document to which Borrower is a party nor the consummation of the transactions therein contemplated nor compliance with the terms, conditions and provisions thereof will conflict with or result in a breach of any of the
terms, conditions or provisions of the articles of incorporation and the by-laws, or other organizational documents of Borrower or any law or any regulation, order, writ, injunction or decree of any court or governmental instrumentality or any
material agreement or instrument to which Borrower is a party or by which it or any of its properties is bound or to which it or any of its properties is subject, or constitute a default thereunder or result in the creation or imposition of any
Lien, other than Permitted Liens. 
  
 5.4 Authorization;
Enforceability. The execution and delivery of this Agreement, the granting of the security interest in the Collateral, the incurring of the Loans, the execution and delivery of the other Loan Documents to which Borrower is a party and the
consummation of the transactions herein and therein contemplated have each been duly authorized by all necessary action on the part of Borrower. The Loan Documents have been duly executed and delivered and constitute legal, valid and binding
obligations of Borrower, enforceable in accordance with their respective terms, except as the enforceability thereof may be limited by bankruptcy, insolvency or other similar laws of general application relating to or affecting the enforcement of
creditors’ rights or by general principles of equity. 
  
 5.5 No Prior Encumbrances. Borrower has good and marketable title to the Collateral, free and clear of Liens except for Permitted Liens. 
  
 5.6 Name; Location of Chief Executive Office, Principal Place of Business and Collateral. Borrower has not done business under any name other
than Renovis Neurosciences, Inc. and that specified on the signature page hereof. The chief executive office, principal place of business, and the place where Borrower maintains its records concerning the Collateral are presently located at the
address set forth on the cover page of this Agreement. The Collateral is presently located at the address set forth on the cover page hereof, or as set forth in a Loan Agreement Supplement which is approved by Agent. 
  
 5.7 Litigation. There are no actions or proceedings pending by
or against Borrower before any court or administrative agency in which an adverse decision could have a material adverse effect on Borrower or the aggregate value of the Collateral. Borrower does not have knowledge of any such pending or threatened
actions or proceedings. Borrower will promptly notify Lenders in writing if any action, proceeding or governmental investigation involving Borrower is commenced that is reasonably expected to result in damages or costs to Borrower of Two Hundred
Thousand Dollars ($200,000) or more. 
  

 16 

 5.8 Financial Statements. All financial statements relating to Borrower or any Affiliate
that have been or may hereafter be delivered by Borrower to each Lender present fairly in all material respects Borrower’s financial condition as of the date thereof and Borrower’s results of operations for the period then ended.

  
 5.9 Security Interest. Assuming the proper
filing of one or more financing statement(s) identifying the Collateral with the proper state and/or local authorities, the security interests in the Collateral granted to Lenders pursuant to this Agreement (i) constitute and will continue to
constitute first priority security interests and (ii) are and will continue to be superior and prior to the rights of all other creditors of Borrower. 
  
 5.10 No Material Adverse Effect. No event has occurred and no condition exists which could reasonably be expected to have a material adverse
effect on the financial condition, business or operations of Borrower since November 30, 2000. 
  
 5.11 Full Disclosure. No representation or, warranty or other statement made by Borrower in any Loan Document (including the Disclosure
Schedule), or certificate or any other written statement furnished to Lenders or either of them, in conjunction with the closing or the funding of any Loan, contains any untrue statement of a material fact or omits to state a material fact necessary
in order to make the statements contained in such certificates or statements not misleading, which untrue statement or omission has not been corrected, in writting, prior to Lenders or either of them being materially adversely affected thereby.
There is no fact known to Borrower and not disclosed in writing to Agent which materially adversely affects, or which could in the future be reasonably expected to materially adversely affect, its ability to perform its obligations under this
Agreement. It is recognized by Lenders that projections and forecasts provided by or on behalf of the Borrower, although reflecting the Borrower’s good faith projections or forecasts based on methods and data which the Borrower believes to be
reasonable and accurate, are not to be viewed as facts and that actual results during the periods covered by any such projections and forecasts may (and are likely to) differ from the projected or forecasted results. 
  
 6. Affirmative Covenants. Borrower covenants and agrees that, until the full and
complete payment of the Obligations and the termination of the Commitments, Borrower shall do all of the following: 
  
 6.1 Good Standing. Borrower shall maintain its corporate existence and its good standing in its jurisdiction of incorporation and maintain
qualification in each jurisdiction in which the failure to so qualify could reasonably be expected to have a material adverse effect on the financial condition, operations or business of Borrower. Borrower shall maintain in force all licenses,
approvals and agreements, the loss of which could reasonably be expected to have a material adverse effect on its financial condition, operations or business. 
  

6.2 Government Compliance. Borrower shall comply with all statutes, laws, ordinances and government rules and regulations to which it is
subject, noncompliance with which could reasonably be expected to materially adversely affect the financial condition, operations or business of Borrower. 
  

 17 

 6.3 Financial Statements, Reports, Certificates. Borrower shall deliver to each Lender: (a)
as soon as available, but in any event within thirty (30) days after the end of each month, a company prepared balance sheet, income statement and cash flow statement covering Borrower’s operations during such period, certified by a Responsible
Officer; (b) as soon as possible, but in any event within thirty (30) days after the end of each calendar quarter, a company prepared balance sheet, income statement and cash flow statement covering Borrower’s operations during such period,
certified by a Responsible Officer; (c) as soon as available, but in any event within one hundred twenty (120) days after the end of Borrower’s fiscal year, audited financial statements of Borrower prepared in accordance with generally accepted
accounting principles, consistently applied, together with an unqualified opinion on such financial statements of a nationally recognized or other independent public accounting firm reasonably acceptable to Lenders; and (d) such other financial
information as Lender may reasonably request from time to time, including, without limitation, annual budgets approved by the Borrower’s board of directors and any interim revisions or modifications approved by the Borrower’s board of
directors. Notwithstanding the foregoing, Borrower shall not be required to deliver any of the documents referenced in Section 6.3(a) during any month after the Commitment Termination Date, as extended herein or by Lenders in their sole discretion.
From and after such time as Borrower becomes a publicly reporting company, promptly as they are available and in any event: (x) at the time of filing of Borrower’s Form 10-K with the Securities and Exchange Commission after the end of each
fiscal year of Borrower, the financial statements of Borrower filed with such Form 10-K; and (y) at the time of filing of Borrower’s Form 10-Q with the Securities and Exchange Commission after the end of each of the first three fiscal quarters
of Borrower, the financial statements of Borrower filed with such Form 10-Q. In addition, Borrower shall deliver to each Lender (i) promptly upon becoming available, copies of all statements, reports and notices sent or made available generally by
Borrower to its security holders; (ii) immediately upon receipt of notice thereof, a report of any material legal actions pending or threatened against Borrower; and (iii) such other financial information as Lenders may reasonably request from time
to time. 
  
 6.4 Certificates of Compliance. Each
time financial statements are furnished pursuant to Section 6.3 above, there shall be delivered to each Lender, a certificate signed by a Responsible Officer (each, an “Officer’s Certificate”) with respect to such financial reports to
the effect that: (i) no Event of Default or Default has occurred and is continuing hereunder since the date of this Agreement or, if later, since the date of the prior Officer’s Certificate or, if such an event or condition has occurred and is
continuing, the nature and extent thereof and the action Borrower proposes to take with respect thereto, and (ii) Borrower is in compliance with the provisions of Sections 6 and 7. 
  
 6.5 Notice of Event of Loss. As soon as possible, and in any event within ten (10) days after Borrower has
knowledge thereof, Borrower shall notify Lenders in writing in reasonable detail of any Event of Loss. 
  
 6.6 Notice of Defaults. As soon as possible, and in any event within five (5) days after the discovery of a Default or an Event of Default
provide Lenders, with an Officer’s Certificate of Borrower setting forth the facts relating to or giving rise to such Default or Event of Default and the action which Borrower proposes to take with respect, thereto. 
  

 18 

 6.7 Taxes. Borrower shall make due and timely payment or deposit of all federal, state, and
local taxes, assessments, or contributions required of it by law or imposed upon any properties belonging to it, including the Financed Equipment, and will execute and deliver to Agent, on demand, appropriate certificates attesting to the payment or
deposit thereof; and Borrower will make timely payment or deposit of all tax payments and withholding taxes required of it by applicable laws, including those laws concerning F.I.C.A., F.U.T.A., state disability, and local, state, and federal income
taxes, and will, upon request, furnish Agent with proof satisfactory to Agent and Lenders indicating that Borrower has made such payments or deposits; provided that Borrower need not make any payment if the amount or validity of such payment is
contested in good faith by appropriate proceedings and as to which payment in full is bonded or is adequately reserved against by Borrower. 
  
 6.8 Use; Maintenance. 
  
 (a) Borrower, at its expense, shall make all necessary site preparations and cause the Collateral to be operated in accordance with any applicable
manufacturer’s manuals or instructions. So long as no Event of Default has occurred and is continuing, Borrower shall have the right to quietly possess and use the Collateral as provided herein without interference by Agent or Lenders.

  
 (b) Borrower, at its expense, shall maintain the
Collateral in good condition, reasonable wear and tear excepted, and will comply in all material respects with all laws, rules and regulations to which the use and operation of the Collateral may be or become subject. Such obligation shall extend to
repair and replacement of any partial loss or damage to the Collateral which does not constitute an Event of Loss, regardless of the cause. If maintenance is mandated by manufacturer with respect to the Equipment, Borrower shall maintain such
Equipment in accordance with manufacturer’s specifications and in a manner which will not impair or compromise any applicable warranties associated with such Equipment. All parts furnished in connection with such maintenance or repair shall
immediately become part of the Collateral. All such maintenance, repair and replacement services shall be immediately paid for and discharged by Borrower with the result that no Lien will attach to the Collateral. 
  
 6.9 Insurance. Borrower shall, obtain and maintain for the
Term, at its own expense: 
  
 (a) “All risk”
insurance against loss or damage to the Collateral. The coverage limit shall be the greater of the replacement cost of the Equipment or the Stipulated Loan Value of the Loan Amount applicable to each Loan. The deductible shall not exceed $25,000.
The policy shall name each Lender, as loss payee as its interests may appear with respect to the Equipment, shall not be invalidated by any action of or breach of warranty by Borrower of any provision thereof and waive subrogation against each
Lender. 
  
 (b) Commercial general liability insurance
(including contractual liability, products liability and completed operations coverages) reasonably satisfactory to Lenders. The limit of liability shall be at least $5,000,000 per occurrence. The policy shall be without deductible, except for
products liability coverage which may have a deductible up to $25,000. The policy(ies) shall name each Lender, as additional insured in the full amount of Borrower’s liability coverage limits (or the coverage limits of any successor to Borrower
or such successor’s parent which is providing coverage), be primary and without contribution as respects any insurance carried by Lenders, and contain cross liability and severability of interest clauses. 
  

 19 

 All policies of insurance shall be placed with financially sound, commercial insurers reasonably
satisfactory to Agent and Lenders. All policies of insurance shall provide that each Lender, shall be given 30 days notice of cancellation of coverage. This notice provision shall be without qualification. On or prior to the first Funding Date and
prior to each policy renewal, Borrower shall furnish to each Lender, certificates of insurance or other evidence satisfactory to such Lender that insurance complying with all of the above requirements is in effect. 
  
 6.10 Loss; Damage; Destruction and Seizure. 
  
 (a) Borrower shall bear the risk of the Financed Equipment being
lost, stolen, destroyed, damaged beyond repair, rendered permanently unfit for use, or seized by a governmental authority for any reason whatsoever at any time until the expiration or termination of the Term. 
  
 (b) Subject to the terms and conditions of Section 6.10(c), if during
the Term any item of Financed Equipment is lost, stolen, destroyed, damaged beyond repair, rendered permanently unfit for use, or seized by a governmental authority for any reason whatsoever for a period equal to at least the remainder of the Term
(an “Event of Loss”), then in each case Agent, on behalf of Lenders, shall receive from the proceeds of insurance maintained pursuant to Section 6.9, from any award paid by the seizing governmental authority or, to the extent not received
from the proceeds of insurance or award or both, from Borrower, on or before the Payment Date next succeeding such Event of Loss, an amount equal to the sum of: (i) all accrued and unpaid Scheduled Payments with respect to such Loan due prior to the
next such Payment Date, (ii) an amount equal to the Stipulated Loan Value Percentage with respect to such Loan multiplied by the Stated Cost of each affected item of Financed Equipment, and (iii) all other sums, if any, that shall have become due
and payable hereunder with respect to such Loan, including interest at the Default Rate with respect to any past due amounts. On the date of receipt by Agent, on behalf of Lenders, of the amount specified above with respect to each such item of
Financed Equipment subject to an Event of Loss, this Agreement shall terminate as to such Financed Equipment. Except as provided in Section 6.10(c), any proceeds of insurance maintained by Borrower pursuant to Section 6.9 and received by Borrower
shall be paid to Agent, on behalf of Lenders, promptly upon their receipt by Borrower. If any proceeds of insurance or awards received from governmental authorities are in excess of the amount owed under this Section 6.10, Agent shall promptly remit
to Borrower the amount in excess of the amount owed to Lenders. 
  
 (c) So long as no Event of Default has occurred and is continuing, any proceeds of insurance maintained pursuant to Section 6.9 received by Lenders or Borrower with respect to an item of Financed Equipment, shall, at the election of
Borrower, be applied either to the repair or replacement of such Financed Equipment or, upon Agent’s receipt, on behalf of Lenders, of evidence of the repair or replacement of the Financed Equipment reasonably satisfactory to Lenders, to the
reimbursement of Borrower for the cost of such repair or replacement. All replacement parts and equipment acquired by Borrower in replacement of Financed Equipment pursuant to this Section 6.10(c) shall immediately become part of the 

  

 20 

 
Financed Equipment upon acquisition by Borrower. Borrower shall take such actions and provide such documentation as may be reasonably requested by Agent, on behalf of
Lenders, to protect and preserve their first priority security interest and otherwise to avoid any impairment of Agent’s and Lenders’ rights under the Loan Documents in connection with such repair or replacement. 
  
 6.11 Further Assurances. At any time and from time to time
Borrower shall execute and deliver such further instruments and take such further action as may reasonably be requested by Lenders to effect the purposes of this Agreement. 
  
 6.12 [Reserved.] 
  
 6.13 Equity Investment. Borrower shall permit GV, at GV’s option, to purchase in Borrower’s next round of equity financing up to
$400,000 of the securities sold in such financing at the same price and on the same terms as paid and received by the lead investor of the equity financing and subject to all the other conditions of such financing including execution by GV of the
applicable stock purchase agreement. Borrower shall permit TTFC, at TTFC’s option, to purchase in Borrower’s next round of equity financing up to $400,000 of the securities sold in such financing at the same price and on the same terms as
paid and received by the lead investor of the equity financing and subject to all the other conditions of such financing including execution by TTFC of the applicable stock purchase agreement. Borrower agrees that it shall notify each Lender
promptly upon the execution by Borrower of a term sheet or letter of intent setting forth the terms and conditions of such financing and in any event provide the Lenders at least fifteen (15) days prior notice of the date of closing of such
financing. This right of purchase may be assigned by a Lender to its Affiliates, and if one Lender does not elect to purchase the full amount of equity it is entitled to purchase under this Section, the other Lender may elect to purchase such
amount. 
  
 7. Negative Covenants. Borrower covenants and agrees that
until the full and complete payment of the Obligations and termination of the Commitments, Borrower will not do any of the following: 
  
 7.1 Chief Executive Office; Collateral Location. During the continuance of this Agreement, change its name, chief executive office, principal
place of business or change any location of any Collateral as set forth in a Loan Agreement Supplement without (i) thirty (30) days prior written notice to Lenders, (ii) delivery to Lenders of a Landlord Agreement from the landlord of such new
location and (iii) any other documents reasonably necessary to maintain the perfection and priority of Lenders’ security interest in the Collateral. 
  
 7.2 Collateral Control. Subject to its rights under Section 4, (i) terminate, waive or release any material right with respect to any
Collateral, (ii) except upon thirty days’ prior written notice to Lenders, remove any items of Collateral from Borrower’s facility located at the address set forth on the cover page hereof or such other address agreed to in writing by
Lenders, or (iii) affix or attach or permit to be affixed or attached to any item of Collateral any other item of property owned by Borrower or any other lender, lessor or financing party which is not readily identifiable or separable without any
damage to such item of Collateral, without each Lender’s prior written consent. 
  

 21 

 7.3 Liens. Create, incur, assume or suffer to exist any Lien of any kind upon any
Collateral, whether now owned or hereafter acquired, except Permitted Liens. 
  
 7.4 Other Dispositions of Collateral. Convey, sell, lease or otherwise dispose of all or any part of the Collateral to any Person except for Financed Equipment in which Lenders shall have released their security interest
pursuant to Section 4.3. 
  
 7.5 Distributions. (i)
Pay any dividends or make any distributions on its Equity Securities; (ii) purchase, redeem, retire, defease or otherwise acquire for value any of its Equity Securities (other than repurchases in an aggregate amount not to exceed $100,000); (iii)
return any capital to any holder of its Equity Securities as such; (iv) make any distribution of assets, Equity Securities, obligations or securities to any holder of its Equity Securities as such; or (v) set apart any sum for any such purpose;
provided, however, that Borrower may pay dividends payable solely in common stock. 
  
 7.6 Mergers or Acquisitions. Merge or consolidate with or into any other Person, acquire all or substantially all of the capital stock or
assets of another Person, sell all or substantially all of the assets of the Borrower to another Person (each a “Merger Event”), or cause, permit or suffer any material change in Borrower’s ownership (other than (i) the sale
and issuance by the Borrower of its capital stock to venture capital investors or other strategic investors, provided that Borrower receives consideration consisting of either cash or other consideration, in each case, having a fair market value
equal to the fair market value of such capital stock, (ii) as otherwise permitted pursuant to Section 7.5 hereof, (iii) the sale or transfer by a stockholder of the Borrower to an affiliate of such existing investor or the sale or transfer by a
stockholder of up to ten percent (10%) of the outstanding capital stock of the Borrower, as of the date of such sale or transfer, to any third party, (iv) the sale and issuance by Borrower of its capital stock on or after the Borrower’s initial
public offering of its common stock effected pursuant to a Registration Statement on Form S-I (or its successor) filed under the Securities Act of 1933, as amended (an “IPO”) or (v) the sale or transfer by a stockholder of capital
stock of the Borrower to a third party occuring after the IPO) without the prior written consent of Lenders; or engage in any business other than the business currently engaged in by Borrower or reasonably related thereto. For purposes of this
Section 7.6, the term “fair market value” shall mean the publicly traded share price of the Borrower’s Common Stock if there is a public market for the Borrower’s Common Stock or if there is no public market for the
Borrower’s Common Stock, then “fair market value” shall be determined by the Company’s Board of Directors in their good faith judgment. 
  
 7.7 Transactions With Affiliates. Enter into any contractual obligation with any Affiliate or engage in any other transaction with any
Affiliate except upon terms at least as favorable to Borrower as an arms-length transaction with Persons who are not Affiliates of Borrower. 
  
 7.8 Indebtedness Payments. Repay any notes to officers, directors or shareholders, prior to all Obligations to Lenders being fully satisfied,
provided that this Section 7.8 shall not prohibit any holder of a convertible note from converting such convertible note into capital stock of the Borrower or from repaying any such note from the net proceeds of the sale and issuance of capital
stock of the Borrower. 
  

 22 

 8. Events of Default. Any one or more of the following events shall constitute an Event of Default by
Borrower under this Agreement: 
  
 8.1 If Borrower fails to
pay when due and payable or when declared due and payable in accordance with the Loan Documents: (i) any Scheduled Payment on the relevant Payment Date or any Final Payment on the relevant Maturity Date that is not paid within three (3) Business
Days of when due, or (ii) any other portion of the Obligations within five (5) Business Days after receipt of written notice from a Lender that such payment is due. 
  
 8.2 If Borrower fails to perform any obligation under Sections 6.9 and 6.10 or violates any of the covenants contained
in Section 7 of this Agreement. 
  
 8.3 If Borrower fails
or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement (other than as set forth in Sections 8.1, 8.2 or 8.4 through 8.12), in any of the other Loan Documents and
Borrower has failed to cure such default within fifteen (15) days of Borrower receiving notice of, or of having actual knowledge of, the occurrence of such default and such default is curable within a fifteen (15) day period, then Borrower shall
have an additional fifteen (15) days to cure such default. 
  
 8.4 If there occurs a material adverse change in Borrower’s business, or if there is a material impairment of the prospect of repayment of any portion of the Obligations owing to Lenders or a material impairment of the value or
priority of Lenders’ security interest in the Collateral. 
  
 8.5 If any material portion of Borrower’s assets is attached, seized, subjected to a writ or distress warrant, or is levied upon, or comes into the possession of any trustee, receiver or Person acting in a similar capacity and such
attachment, seizure, writ or distress warrant or levy has not been removed, discharged or rescinded within ten (10) days, or if Borrower is enjoined, restrained, or in any way prevented by court order from continuing to conduct all or any material
part of its business affairs, or if a judgment or other claim becomes a lien or encumbrance upon any material portion of Borrower’s assets, or if a notice of lien, levy, or assessment is filed of record with respect to any of Borrower’s
assets by the United States Government, or any department, agency, or instrumentality thereof, or by any state, county, municipal, or governmental agency, and the same is not paid within ten (10) days after Borrower receives notice thereof, provided
that none of the foregoing shall constitute an Event of Default where such action or event is stayed or an adequate bond has been posted pending a good faith contesting by Borrower. 
  
 8.6 Defaults shall exist under any agreements with any third party or parties which consists of the failure to pay any
Indebtedness at maturity or which results in a right by such third party or parties, whether or not exercised, to accelerate the maturity of Indebtedness of Borrower in an aggregate amount in excess of Two Hundred Thousand Dollars ($200,000) or a
default shall exist under any financing agreement (other than this Agreement) with a Lender or any of a Lender’s Affiliates. 
  

 23 

 8.7 If a judgment or judgments for the payment of money in an amount, individually or in the
aggregate, of at least Fifty Thousand Dollars ($50,000) shall be rendered against Borrower and shall remain unsatisfied and unstayed for a period of thirty (30) days. 
  
 8.8 Any representation or warranty made herein or on the Funding Date by Borrower in any Operative Document, or any
certificate or financial statement furnished pursuant to the provisions of any Operative Document, shall prove to have been false or misleading in any material respect as of the time made or furnished. 
  
 8.9 If Borrower shall breach any material term of the Warrants which
have not been cured within any applicable grace periods. 
  
 8.10 If any Loan Document shall in any material respect cease to be, or Borrower shall assert that any Loan Document is not, a legal, valid and binding obligation of Borrower enforceable in accordance with its terms. 
  
 8.11 If a proceeding shall have been instituted in a court having
jurisdiction in the premises seeking a decree or order for relief in respect of Borrower in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or for the appointment of a receiver,
liquidator, assignee, custodian, trustee (or similar official) of Borrower or for any substantial part of its property, or for the winding-up or liquidation of its affairs, and such proceeding shall remain undismissed or unstayed and in effect for a
period of thirty (30) consecutive days or such court shall enter a decree or order granting the relief sought in such proceeding. 
  
 8.12 If Borrower shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, shall
consent to the entry of an order for relief in an involuntary case under any such law, or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian (or other similar official) of Borrower or for
any substantial part of its property, or shall make a general assignment for the benefit of creditors, or shall fail generally to pay its debts as they become due, or shall take any corporate action in furtherance of any of the foregoing.

  
 9. Agent’s and Lenders’ Rights and Remedies.

  
 9.1 Rights and Remedies. Upon the occurrence and
during the continuance of any Default or Event of Default, neither Agent nor Lenders shall have any further obligation to advance money or extend credit to or for the benefit of Borrower. In addition, upon the occurrence and during the continuance
of an Event of Default, Lenders or Agent on behalf of Lenders, shall have the rights, options, duties and remedies of a secured party as permitted by law and, in addition to and without limitation of the foregoing, either Lender may, at the election
of such Lender, without notice of election and without demand, do any one or more of the following, all of which are authorized by Borrower: 
  
 (a) Declare all Obligations, whether evidenced by this Agreement, by any of the other Loan Documents, or otherwise, including (i) all accrued and
unpaid Scheduled Payments with respect to each Loan, (ii) the Stipulated Loan Value with respect to each Loan, and (iii) all other sums, if any, that shall have become due and payable hereunder, immediately 

  

 24 

 
due and payable (provided that upon the occurrence of an Event of Default described in Section 8.11 or 8.12 all Obligations shall become immediately due and payable
without any action by Lenders); 
  
 (b) Make such payments
and do such acts as Agent or Lenders consider necessary or reasonable to protect Agent’s security interest in the Collateral. Borrower agrees to assemble the Collateral if Agent, on behalf of Lenders, so requires, and to make the Collateral
available to Agent as Agent may designate. Borrower authorizes Agent to enter the premises where the Collateral is located, to take and maintain possession of the Collateral, or any part of it, and to pay, purchase, contest, or compromise any Lien
which in Lenders’ determination appears to be prior or superior to their security interest in and to the Collateral and to pay all expenses incurred in connection therewith. With respect to any of Borrower’s owned premises, Borrower hereby
grants Agent, on behalf of Lenders, a license to enter into possession of such premises and to occupy the same, without charge, for up to one hundred twenty (120) days in order to exercise any of Agent’s or Lenders’ rights or remedies
provided herein, at law, in equity, or otherwise; 
  
 (c)
Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell (in the manner provided for herein) the Collateral; 
  
 (d) Sell the Collateral at either a public or private sale, or both, by way of one or more contracts or transactions, for cash or on terms, in such
manner and at such places (including Borrower’s premises) as Lenders determine are commercially reasonable; 
  
 (e) Agent or any Lender may credit bid and purchase at any public sale; and 
  
 (f) Any deficiency that exists after disposition of the Collateral as provided above will be paid immediately by
Borrower. 
  
 9.2 Set Off Right. During the
occurrence and continuance of an Event of Default arising out of Borrower’s failure to comply with Section 8.1, Agent or Lenders may set off and apply to the Obligations any and all indebtedness at any time owing to or for the credit or the
account of Borrower. 
  
 9.3 Effect of Sale. Any
sale, whether under any power of sale hereby given or by virtue of judicial proceedings, shall operate to divest all right, title, interest, claim and demand whatsoever, either at law or in equity, of Borrower in and to the Property sold, and shall
be a perpetual bar, both at law and in equity, against Borrower, its successors and assigns, and against any and all Persons claiming the Property sold or any part thereof under, by or through Borrower, its successors or assigns. 
  
 9.4 Power of Attorney in Respect of the Collateral. Borrower
does hereby irrevocably appoint each Lender (which appointment is coupled with an interest), the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name to file any notices of security interests,
financing statements and continuations and amendments thereof pursuant to the Uniform Commercial Code or federal law, as may be necessary to perfect, or to continue the perfection of Lenders’ security interests in the Collateral. Borrower does
hereby 

  

 25 

 
irrevocably appoint each Lender (which appointment is coupled with an interest) on the occurrence and during the continuance of an Event of Default, the true and
lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue for, compound and give acquittance for any and all rents, issues, profits, avails, distributions,
income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if such Lender were a Borrower itself, (b) to receive payment of and to
endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into such Lenders’ possession or under such Lenders’ control, (c) to make all demands, consents and
waivers, or take any other action with respect to, the Collateral, (d) in such Lenders’ discretion to file any claim or take any other action or proceedings, either in their own names or in the name of Borrower or otherwise, which such Lender
may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Lenders, in and to the Collateral, or (e) to otherwise act with respect thereto as though such Lender, were the outright owner of the Collateral.

  
 9.5 Agent’s Expenses. If Borrower fails to
pay any amounts or furnish any required proof of payment due to third persons or entities, as required under the terms of this Agreement, then Agent may do any or all of the following: (a) make payment of the same or any part thereof; or (b) obtain
and maintain insurance policies of the type discussed in Section 6.9 of this Agreement, and take any action with respect to such policies as Agent deems prudent. Any amounts paid or deposited by Agent shall constitute Agent’s Expenses, shall be
immediately due and payable, and shall bear interest at the then applicable rate hereinabove provided, and shall be secured by the Collateral. Any payments made by Agent shall not constitute an agreement by Agent to make similar payments in the
future or a waiver by Agent or any Lender of any Event of Default under this Agreement. 
  
 9.6 Remedies Cumulative. Agent’s and Lenders’ rights and remedies under this Agreement, the Loan Documents, and all other
agreements shall be cumulative. Agent and Lenders shall have all other rights and remedies not inconsistent herewith as provided under the Code, by law, or in equity. No exercise by Agent or any Lender of one right or remedy shall be deemed an
election, and no waiver by Lenders of any Event of Default on Borrower’s part shall be deemed a continuing waiver. No delay by Agent or any Lender shall constitute a waiver, election, or acquiescence by it or either of them. 
  
 9.7 Application of Collateral Proceeds. The proceeds and/or
avails of the Collateral, or any part thereof, and the proceeds and the avails of any remedy hereunder (as well as any other amounts of any kind held by Agent, on behalf of Lenders, at the time of or received by Agent, on behalf of Lenders, after,
the occurrence of an Event of Default hereunder) shall be paid to and applied as follows: 
  
 (a) First, to the payment of out-of-pocket costs and expenses, including all amounts expended to preserve the value of the Collateral, of
foreclosure or suit, if any, and of such sale and the exercise of any other rights or remedies, and of all proper fees, expenses, liability and advances, including reasonable legal expenses and attorneys’ fees, incurred or made hereunder by
Agent or any Lender, including without limitation, Agent’s Expenses and Lenders’ Expenses; 
  

 26 

 (b) Second, to the payment to Lenders of the amount then owing or unpaid on the Loans for
Scheduled Payments, any accrued and unpaid interest, the Stipulated Loan Value of the applicable Loan Amount, and all other Obligations with respect to all Loans, provided, however, that if such proceeds shall be insufficient to pay in full the
whole amount so due, owing or unpaid upon the Loans, then to the unpaid interest thereon, then to unpaid principal thereof, then to the Stipulated Loan Value of the Loan Amount with respect to all Loans, and then to the payment of other amounts then
payable to Lenders under any of the Loan Documents; and 
  
 (c) Third, to the payment of the surplus, if any, to Borrower, its successors and assigns, or to whomsoever may be lawfully entitled to receive the same. 
  
 9.8 Reinstatement of Rights. If Agent or Lenders shall have proceeded to enforce any right under this Agreement
or any other Loan Document by foreclosure, sale, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely, then and in every such case (unless otherwise ordered by a
court of competent jurisdiction), Agent and Lenders shall be restored to their former position and rights hereunder with respect to the Property subject to the security interest created under this Agreement. 
  
 10. Waivers; Indemnification. 
  
 10.1 Demand; Protest. Except as otherwise provided herein,
Borrower waives demand, protest, notice of protest, notice of default or dishonor, notice of payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents,
instruments, chattel paper, and guarantees at any time held by Agent on which Borrower may in any way be liable. 
  
 10.2 Agent’s Liability for Collateral. So long as Agent complies with its obligations, if any, under the Code, Lenders shall not in any
way or manner be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage thereto occurring or arising in any manner or fashion from any cause other than Lender’s gross negligence or willful misconduct; (c) any
diminution in the value thereof; or (d) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person whomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower. 
  
 10.3 Indemnification and Waiver. Whether or not the
transactions contemplated hereby shall be consummated: 
  
 (a) General Indemnity. Borrower agrees upon demand to pay or reimburse Lenders and Agent for all liabilities, obligations and out-of-pocket expenses, including reasonable fees and expenses of counsel for Lenders or Agent, from time
to time arising in connection with the enforcement or collection of sums due under the Loan Documents, and in connection with any amendment or modification of the Loan Documents or any “work-out” in connection with the Loan Documents.
Borrower shall indemnify, reimburse and hold Lenders and Agent, each of Lenders’ and Agent’s partners, and each of their respective successors, assigns (other than successors and assigns of interests in Collateral where such interests are

  

 27 

 
transferred to such successors and assigns through a foreclosure sale of the Collateral pursuant to Lenders’ rights under Section 9.1 hereof), agents, attorneys,
officers, directors, shareholders, servants, agents and employees harmless from and against all liabilities, losses, damages, actions, suits, demands, claims of any kind and nature (including claims relating to environmental discharge, cleanup or
compliance), all costs and expenses whatsoever to the extent they may be incurred or suffered by such indemnified party in connection therewith (including reasonable attorneys’ fees and expenses), fines, penalties (and other charges of
applicable governmental authorities), licensing fees relating to any item of Collateral, damage to or loss of use of property (including consequential or special damages to third parties or damages to Borrower’s property), or bodily injury to
or death of any person (including any agent or employee of Borrower) (each, a “Claim”), directly or indirectly relating to or arising out of the use of the proceeds of the Loans or otherwise, the falsity of any representation or
warranty of Borrower or Borrower’s failure to comply with the terms of this Agreement or any other Loan Document during the Term. The foregoing indemnity shall cover, without limitation, (i) any Claim in connection with a design or other defect
(latent or patent) in any item of equipment included in the Collateral, (ii) any Claim for infringement of any patent, copyright, trademark or other intellectual property right, (iii) any Claim resulting from the presence on or under or the escape,
seepage, leakage, spillage, discharge, emission or release of any Hazardous Materials on the premises of Borrower, including any Claims asserted or arising under any Environmental Law, or (iv) any Claim for negligence or strict or absolute liability
in tort; provided, however, that Borrower shall not indemnify Lenders or Agent for any liability incurred by Lenders or Agent as a direct and sole result of Lenders’ or Agent’s gross negligence or willful misconduct. Such
indemnities shall continue in full force and effect, notwithstanding the expiration or termination of this Agreement. Upon Lenders’ or Agent’s written demand, Borrower shall assume and diligently conduct, at its sole cost and expense, the
entire defense of Lenders or Agent, each of its partners, and each of their respective, agents, employees, directors, officers, shareholders, successors and assigns against any indemnified Claim described in this Section 10.3. Borrower shall
not settle or compromise any Claim against or involving Lenders or Agent without first obtaining Lenders’ or Agent’s written consent thereto, which consent shall not be unreasonably withheld. 
  
 (b) Waivers. NOTWITHSTANDING ANYTHING TO THE CONTRARY
CONTAINED IN THIS AGREEMENT OR ANYWHERE ELSE, BORROWER AGREES THAT IT SHALL NOT SEEK FROM LENDERS OR AGENT UNDER ANY THEORY OF LIABILITY (INCLUDING ANY THEORY IN TORTS), ANY SPECIAL, INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES. 
  
 (c) Survival; Defense. The obligations in this Section 10.3
shall survive payment of all other Obligations pursuant to Section 12.8 of this Agreement. At the election of any Indemnified Person, Borrower shall defend such Indemnified Person using legal counsel satisfactory to such Indemnified Person in such
Person’s reasonable discretion, at the sole cost and expense of Borrower. All amounts owing under this Section 10.3 shall be paid within thirty (30) days after written demand. 
  

 28 

 11. Notices. 
  
 (a) Unless otherwise provided in this Agreement, all notices or demands by any party relating to this Agreement or any other agreement entered into
in connection herewith shall be in writing and (except for financial statements and other informational documents which may be sent by first-class mail, postage prepaid) shall be personally delivered or sent by certified mail, postage prepaid,
return receipt requested, or by facsimile (provided that Lenders shall use their best efforts to follow up such facsimile with a telephone notification, provided further, that the failure to provide such telephone notification shall not be deemed to
be a waiver of any notice sent via facsimile), or by overnight courier to Borrower or to Lenders, as the case may be, at their respective addresses set forth below: 
  

	 If to Borrower:
	  	 Renovis, Inc.
 747 Fifty-Second
Street

 Oakland, CA 94609
 Attention: Dr. Lynne Zydowsky
 Fax: 510-601-5201
 PH: 510-601-5011

		
	 If to GV:
	  	 GATX Ventures, Inc.
 3687 Mount Diablo Blvd., Suite
200
 Lafayette, CA 94549
 Attention: Contract Administration
 Fax: (925) 258-6020
 PH: (925) 258-6000

		
	 	  	With a copy to:
		
	 	  	 GATX Ventures, Inc.
 16 Munson Road
 Farmington, CT 06032
 Attention: Contract Administration
 Fax: (860) 284-4350
 PH: (860) 284-4350

		
	 If to TTFC:
	  	 Transamerica Commercial Finance Corporation
 76
Batterson Park Road
 Farmington, CT 06032
 Attention: Legal Department
 Fax: (860) 677-6766
 PH: (860) 677-6466

  
 The parties
hereto may change the address at which they are to receive notices hereunder, by notice in writing in the foregoing manner given to the other. 
  

 29 

 (b) Payments. Unless a Lender specifies otherwise in writing, all payments shall be made by
wire transfer to: 
  
 All payments to GATX shall be made
to: 
  

	 c/o GATX Capital Corporation

	 Bank Name:
	  	Bank of America
	 Bank Address:
	  	Dallas, Texas 75202-2911
	 Account No.:
	  	3750878673
	 ABA Routing No.:
	  	111000012
	 Reference:
	  	Renovis, Inc.

  
 All payments to
TTFC shall be made to: 
  

	 Transamerica Commercial Finance Corporation

	 Bank Name:
	  	The First National Bank of Chicago
	 Bank Address:
	  	One First National Plaza
Chicago, Illinois 60670
	 Account No.:
	  	55-75427
	 ABA Routing No.:
	  	071-000-013
	 Reference:
	  	Renovis, Inc.
	 Customer No.
	  	                       
	 Account Name:
	  	Transamerica Commercial Finance
Corporation

  
 12. General Provisions.

  
 12.1 Successors and Assigns. This Agreement
shall bind and inure to the benefit of the respective successors and permitted assigns of each of the parties; provided, however, that neither this Agreement nor any rights hereunder may be assigned by Borrower without each Lender’s prior
written consent, which consent may be granted or withheld in Lenders’ sole discretion. Each Lender shall have the right without the consent of or notice to Borrower to sell, transfer, negotiate, or grant participation’s in all or any part
of, or any interest in such Lender’s rights and benefits hereunder, except that each Lender may not assign its interests to a direct competitor of Borrower. Notwithstanding the foregoing, banks, finance companies, insurance companies, financial
entities and after the occurence and during the continuance of an Event of Default, any Person, shall not be deemed to be a “direct competitor” for purposes of this Section 12.1. Agent shall have the right to resign as Agent hereunder
without Borrower’s consent and pursuant to the terms of a separate intercreditor agreement entered into between the Lenders. 
  
 12.2 Time of Essence. Time is of the essence for the performance of all obligations set forth in this Agreement. 
  

 30 

 12.3 Severability of Provisions. Each provision of this Agreement shall be several from
every other provision of this Agreement for the purpose of determining the legal enforceability of any specific provision. 
  
 12.4 Entire Agreement; Construction; Amendments and Waivers. 
  
 (a) This Agreement is the result of negotiations between and has been reviewed by each of Borrower and Lenders
executing this Agreement as of the date hereof and their respective counsel; accordingly, this Agreement shall be deemed to be the product of the parties hereto, and no ambiguity shall be construed in favor of or against Borrower, Agent or Lenders.
Borrower, Agent and Lenders agree that they intend the literal words of this Agreement and the other Loan Documents and that no parol evidence shall be necessary or appropriate to establish Borrower’s, Agent’s or any Lender’s actual
intentions. 
  
 (b) Any and all amendments, modifications,
discharges or waivers of, or consents to any departures from any provision of this Agreement or of any of the other Loan Documents shall not be effective without the written consent of Agent, each of the Lenders and Borrower. Notwithstanding the
foregoing, in all cases, any material change of maturity dates, any interest rate reduction, or any release of any Collateral or any guarantor, or any forbearances or waiver of rights under the Loan Documents shall require the written consent of
each Lender. Any waiver or consent with respect to any provision of the Loan Documents shall be effective only in the specific instance and for the specific purpose for which it was given. No notice to or demand on Borrower in any case shall entitle
Borrower to any other or further notice or demand in similar or other circumstances. Any amendment, modification, waiver or consent effected in accordance with this Section 12.4 shall be binding upon Agent, each Lender and on Borrower and on their
respective successors and assigns. 
  
 12.5 Reliance by
Agent and Lenders. All covenants, agreements, representations and warranties made herein by Borrower shall be deemed to be material to and to have been relied upon by Lenders, notwithstanding any investigation by Lenders. 
  
 12.6 No Set-Offs by Borrower. All sums payable by Borrower
pursuant to this Agreement or any of the other Loan Documents shall be payable without notice or demand and shall be payable in United States Dollars without set-off or reduction of any manner whatsoever. 
  
 12.7 Counterparts. This Agreement may be executed in any number
of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Agreement. 
  
 12.8 Survival. All covenants, representations and warranties
made in this Agreement shall continue in full force and effect so long as any Obligations remain outstanding. The obligations of Borrower to indemnify Lenders with respect to the expenses, damages, losses, costs and liabilities described in Section
10.3 shall survive until all applicable statute of limitations periods with respect to actions that may be brought against Lenders have run. 
  
 12.9 Integration. This Agreement and the Loan Documents constitute the entire agreement between the Lenders, on the one hand, and the
Borrower, on the other, and supercede any prior 

  

 31 

 
written or oral agreements or understandings of the parties. Borrower acknowledges that it is not relying on any representation or agreement made by any Lender or any
employee, agent or attorney of any Lender, other than the specific agreements set forth in this Agreement and the Loan Documents.” 
  
 13. Relationship of Parties. Borrower, Agent and each Lender acknowledge, understand and agree that the relationship between the Borrower, on the one hand,
and Agent and Lenders, on the other, is, and at all time shall remain solely that of a borrower and lenders. Neither Agent nor any Lender shall under any circumstances be construed to be partners or joint venturers of Borrower or any of its
Affiliates; nor shall Agent or any Lender under any circumstances be deemed to be in a relationship of confidence or trust or a fiduciary relationship with Borrower or any of its Affiliates, or to owe any fiduciary duty to Borrower or any of its
Affiliates. Neither Agent nor any Lender undertakes or assumes any responsibility or duty to Borrower or any of its Affiliates to select, review, inspect, supervise, pass judgment upon or otherwise inform Borrower or any of its Affiliates of any
matter in connection with its or their Property, any Collateral held by Agent or the operations of Borrower or any of its Affiliates. Borrower and each of its Affiliates shall rely entirely on their own judgment with respect to such matters, and any
review, inspection, supervision, exercise of judgment or supply of information undertaken or assumed by Agent or any Lender in connection with such matters is solely for the protection Agent or such Lender and neither Borrower nor any Affiliate is
entitled to rely thereon. 
  
 14. Confidentiality. 
  
 14.1 Subject to the limitations of Section 14.2 all written
information marked as confidential disclosed by Borrower to either Lender shall be deemed to be “Proprietary Information.” In particular, Proprietary Information shall be deemed to include, without limitation, any trade secret, patent
application (including drawings and claims), information, prices, technique, invention, idea, process, or formula; any sample, compound, extract, media, vector and/or cell line and any procedures and formulations for producing such sample, compound,
extract, media, vector and/or cell line; any data or information relating to any research project, work in process, or future development; and any engineering, manufacturing, marketing, servicing, financing or personnel matter relating to Borrower,
its present or future products, sales, suppliers, clients, customers, employees, investors, or business, whether, written, visual, graphic or electronic form. 
  

14.2 The term “Proprietary Information” shall not be deemed to include information that a Lender can demonstrate by competent written
proof, ( a) is now, or hereafter becomes, through no act or failure to act on the part of either Lender, generally known or available in the public domain; (b) is known by the Lender at the time of receiving such information from Borrower as
evidenced by its records; (c) is hereafter furnished to the Lender by a third party, as a matter of right and without restriction on disclosure; or (d) is the subject of a written permission to disclose provided by Borrower. 
  
 14.3 Lenders shall maintain all Proprietary Information disclosed by
Borrower in confidence and shall not disclose any such Proprietary Information to any third party (other than Lenders’ partner’s, attorneys, governmental regulators, and auditors, or to a Lenders’ subsidiaries and affiliates, subject
to the same confidentiality obligations set forth herein). Without limiting the generality of the immediately preceding sentence, a Lender may use 

  

 32 

 
Proprietary Information required to exercise the Lender’s rights and the enforcement of its remedies and collection under this Agreement or the Warrant. Neither
Lender may use the Proprietary Information for any other purpose or in any manner. No rights or licenses to trademarks, inventions, copyrights, or patents are implied or granted under this Agreement. Nothing in this Agreement grants a Lender the
right to retain, distribute or commercialize any Proprietary Information. Each Lender agrees that it will not in any way attempt to obtain, either directly or. indirectly, any information regarding the Proprietary Information from any third party
(other than (i) the other Lender, or (ii) the Company’s investors, directors, auditors or attorneys) who has been employed by, provided consulting services to, or received in confidence information from, Borrower. 
  
 14.4 Proprietary Information shall not be reproduced or replicated in
any form except as required to accomplish the intent of this Agreement. 
  
 14.5 Each Lender shall advise its employees who might have access to Borrower’ Proprietary Information of the confidential nature thereof and agrees that its employees shall be bound by the terms of this Agreement. Neither
Lender shall disclose any Proprietary Information to employees who do not have a need for such information to accomplish the purposes of this Agreement, nor shall a Lender disclose any Proprietary Information to any third party without
Borrower’ written consent. 
  
 14.6 All Proprietary
Information (including all copies thereof) shall remain at all times the property of Borrower, and shall be returned to Borrower, or destroyed by either Lender (and so certified) after the Lender’s need for it has expired, or upon request of
Borrower, and in any event, upon termination of this Agreement. 
  
 14.7 Notwithstanding any other provision of this Agreement, disclosure of Proprietary Information shall not be precluded if such disclosure: (a) is in response to a valid order of a court or other governmental body of the United States or
any political subdivision thereof; or (b) is otherwise required by law or regulation; provided, however, that the affected Lender shall first have given reasonable prior notice to Borrower and shall have made a reasonable effort, or permitted
Borrower to make a reasonable effort, to obtain a protective order requiring that the Proprietary Information so disclosed be used only for the purposes for which the order was issued or for such other legal requirement. 
  
 14.8 The covenants contained in this Section 14, including all
subparagraphs, shall continue in full force and effect for so long as either Lender continues to receive or possess Proprietary Information. The termination of this Agreement shall not relieve either Lender of the obligations imposed by
subparagraphs 14.3, 14.4, 14.5, and 14.10 of this Agreement, and the provisions of subparagraphs 14.3, 14.4, 14.5, and 14.10 shall survive any termination of this Agreement and continue for the later of three (3) years after (i) the date of such
termination, or (ii) the exercise of the Warrant. 
  
 14.9
Each Lender hereby acknowledges and agrees that in the event of any breach of this Section 14, including all subparagraphs, including, without limitation, the actual or threatened disclosure of Proprietary Information without the prior express
written consent of Borrower, Borrower will suffer an irreparable injury, such that no remedy at law will afford it 

  

 33 

 
adequate protection against, or appropriate compensation for, such injury. Accordingly, Lenders hereby agree that the Borrower may be entitled to specific performance
of each Lender’s obligations under this Agreement, as well as such further injunctive relief as may be granted by a court of competent jurisdiction. 
  
 14.10 The Lenders’ and Borrower’s rights and obligations under this Section 14, including all subparagraphs will bind and inure to the
benefit of their respective successors, heirs, executors and administrators and permitted assigns. 
  
 15. CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF
CALIFORNIA, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. EACH OF BORROWER, AGENT AND LENDERS HEREBY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN THE NORTHERN DISTRICT OF CALIFORNIA. BORROWER, AGENT AND
LENDERS HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF ANY OF THE LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF
DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. 
  
 16.
Instructions from Lenders. With respect to any instruction, demand, request or other action (each an “Instruction”) taken or requested to be taken by a Lender pursuant to its rights under Section 9 or Section 10.3 of this
Agreement, Borrower may rely on such Instruction as if such Instruction was made and authorized by both Lenders. In the event that Borrower receives conflicing Instructions from the Lenders, then Borrower shall have the right to notify each Lender
of such conflicting Instructions and shall have the right to disregard such Instructions (if such Instructions require action on the part of Borrower) until such time as the Lenders, collectively, provide a single Instruction in lieu of such
conflicting Instructions. 
  
 [Remainder of page intentionally left blank.]

  

 34 

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

	BORROWER:
	
	RENOVIS, INC.
		
	 By:
	 	 /s/    LYNNE ZYDOWSKY

	 Title:
	 	President
	
	AGENT:
	
	GATX VENTURES, INC.
		
	 By:
	 	 /s/    ROBERT D. POMEROY, JR.

	 Title:
	 	Robert D. Pomeroy, Jr.
	 	 	Senior Vice President
	
	LENDERS:
	
	GATX VENTURES, INC.
		
	 By:
	 	 /s/    ROBERT D. POMEROY, JR.

	 Title:
	 	Robert D. Pomeroy, Jr.
	 	 	Senior Vice President
	
	TRANSAMERICA COMMERCIAL
FINANCE CORPORATION
		
	 By:
	 	 /s/    ALLEN M. SAILER

	 Title:
	 	ALLEN M. SAILER, VICE PRESIDENT

  

 35

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