Document:

EX-10.14

 Exhibit 10.14 

TENTH AMENDMENT TO CREDIT AGREEMENT, 

CONSENT AND JOINDER AGREEMENT 

THIS TENTH AMENDMENT TO CREDIT AGREEMENT, CONSENT AND JOINDER AGREEMENT (this “Agreement”) dated as of November 7, 2019
(the “Tenth Amendment Effective Date”) is entered into among VENUS CONCEPT CANADA CORP., an Ontario corporation (“Venus Canada”), VENUS CONCEPT USA INC., a Delaware corporation (“Venus USA” and
together with Venus Canada, each a “Borrower” and collectively, the “Borrowers”), VENUS CONCEPT LTD., an Israeli corporation (the “Parent”), VENUS CONCEPT INC., a Delaware corporation (the
“Super Parent”), the Lenders party hereto and MADRYN HEALTH PARTNERS, LP, a Delaware limited partnership, as Administrative Agent. All capitalized terms used herein and not otherwise defined herein shall have the meanings given to
such terms in the Existing Credit Agreement (as defined below) or the Amended Credit Agreement (as defined below), as the context shall require. 

RECITALS 
 WHEREAS, the
Borrowers, the Parent, the Guarantors, the Lenders and the Administrative Agent have entered into that certain Credit Agreement dated as of October 11, 2016 (as amended by that certain First Amendment to Credit Agreement and Investment
Documents dated as of May 25, 2017, that certain Second Amendment to Credit Agreement and Consent Agreement dated as of February 15, 2018, that certain Third Amendment to Credit Agreement and Waiver dated as of August 14, 2018, that
certain Fourth Amendment to Credit Agreement dated as of January 11, 2019, that certain Fifth Amendment to Credit Agreement dated as of March 15, 2019, that certain Sixth Amendment to Credit Agreement and Consent dated as of April 25,
2019, that certain Seventh Amendment to Credit Agreement, Consent and Waiver dated as of June 25, 2019, that certain Omnibus Amendment and Waiver dated as of July 26, 2019, and that certain Ninth Amendment to Credit Agreement dated as of
August 14, 2019 and as further amended or modified from time to time, the “Existing Credit Agreement”); 
 WHEREAS,
the Parent and the Super Parent intend to consummate the transactions contemplated by the Merger Agreement (including the repayment of certain existing Indebtedness for borrowed money of the Super Parent and the payment of fees and expenses in
connection with the foregoing) on the Tenth Amendment Effective Date (collectively, the “Transactions”); 
 WHEREAS, the
Super Parent intends to issue common equity interests in an aggregate amount of at least $20,000,000 (exclusive of any such investment by a Lender) not later than the close of business on the Tenth Amendment Effective Date, as contemplated by that
certain Commitment Letter dated as of March 15, 2019, by and among the Administrative Agent, the Lenders, and the Loan Parties (as amended, restated, modified or otherwise supplemented from time to time, the “Debt Commitment
Letter”) in connection with the consummation of the Transactions (the “Equity Contribution”); 
 WHEREAS, the Loan
Parties have requested that (x) the Existing Credit Agreement be amended to provide for certain modifications of the terms of the Existing Credit Agreement, and (y) the Lenders and the Administrative Agent consent to the consummation of
the Transactions on the Tenth Amendment Effective Date; and 
 WHEREAS, the Lenders are willing to amend the Existing Credit Agreement and
provide their consent to the consummation of the Transactions by the Parent and the Super Parent, in each case, subject to the terms and conditions hereof; 

  
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 NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1.    Amendments. Effective as of the Tenth Amendment Effective Date, the Existing Credit Agreement shall be
amended as follows: 
 (a)    The Existing Credit Agreement is hereby amended by this Agreement and for
ease of reference restated (after giving effect to this Agreement) in the form of Schedule 1 hereto (the Existing Credit Agreement, as so amended by this Agreement, being referred to as the “Amended Credit Agreement”). 

(b)     Schedules 1.01, 6.06 – Part B, 6.10, 6.13(a), 6.13(b), 6.17, 6.20(a), 6.20(b), 6.20(c),
6.20(d), 6.22 and 11.02 to the Existing Credit Agreement are hereby amended to read as provided on Schedules 1.01, 6.06 – Part B, 6.10, 6.13(a), 6.13(b), 6.17, 6.20(a), 6.20(b),
6.20(c), 6.20(d), 6.22 and 11.02 hereto, respectively. 
 (c)    Exhibit E to
the Existing Credit Agreement is hereby amended and restated to read, in its entirety, in the form of Exhibit E hereto. Exhibits F-1 and F-2 are hereby added to
the Amended Credit Agreement in the form of Exhibit F-1 and F-2 hereto, respectively. Exhibits B-3, B-4, B-5 and F to the Existing Credit Agreement are hereby deleted in their entirety. Exhibit B-6 to the Existing Credit Agreement is
hereby renumbered as Exhibit B-3 to the Amended Credit Agreement. 

2.    Consent. Subject to the other terms and conditions of this Agreement, the Lenders and the Administrative
Agent hereby consent to the consummation of the Transactions by the Parent and the Super Parent on the Tenth Amendment Effective Date. The above consent shall not otherwise modify or affect the Loan Parties’ obligations to comply fully with the
terms of any duty, term, condition or covenant contained in the Amended Credit Agreement or any other Loan Document in the future and is limited solely to the matters set forth in this Section 2. Nothing contained in this
Agreement shall be deemed to constitute a waiver of any duty, term, condition or covenant contained in the Amended Credit Agreement in the future, or any other rights or remedies the Administrative Agent or any Lender may have under the Amended
Credit Agreement or any other Investment Documents or under applicable Law. 
 3.    Conditions Precedent. This
Agreement shall be effective upon satisfaction of only the following conditions precedent: 

(a)    receipt by the Administrative Agent of counterparts of (i) this Agreement duly executed by the
Loan Parties (including, for the avoidance of doubt, the Super Parent), the Lenders and the Administrative Agent, (ii) that certain First Amendment to Warrant Issuance Agreement dated as of the Tenth Amendment Effective Date by and among the
Lenders and the Parent, (iii) the Warrants duly executed by the Super Parent and Madryn Health Partners, LP or Madryn Health Partners (Cayman Master), LP, as applicable; 

(b)     subject to Section 6(c) below, receipt by the Administrative Agent of
(i) updated insurance certificates evidencing that the Super Parent, each of its Domestic Subsidiaries as they exist prior to the consummation of the Transactions and their respective properties are covered by insurance policies that are
similar in scope and coverage to the Loan Parties’ insurance policies or newly obtained insurance policies that will be in effect on the Tenth Amendment Effective Date and (ii) evidence satisfactory to the Administrative Agent that the
Administrative Agent has been named as additional insured (in the case of liability insurance) or lenders’ loss payee (in the case of property and casualty insurance) thereunder, in each case in the manner required by the Amended Credit
Agreement and in accordance with past practice (together with applicable endorsements); 

  
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 (c)    receipt by the Administrative Agent of customary
opinions of counsel to the Loan Parties with respect to this Agreement, the Amended Credit Agreement, the transactions contemplated thereby, and the Transactions; 

(d)    receipt by the Administrative Agent of a certificate of a Responsible Officer of each Loan Party,
certifying that (i) no Event of Default has occurred and is continuing under Section 9.01(a), (f) or (g) of the Existing Credit Agreement; (ii) since the date of the Merger Agreement there has not been a Radiant Material Adverse
Effect (as defined in the Merger Agreement); (iii) (x) the Merger Agreement is in full force and effect, (y) the closing of the Transactions shall have occurred on the Tenth Amendment Effective Date on the terms set forth in the Merger
Agreement and in compliance with applicable Law and regulatory approvals, and (z) no provision of the Merger Agreement shall have been waived, amended, supplemented, or otherwise modified in a manner adverse to the Lenders in any material
respect without the consent of the Administrative Agent (such consent not to be unreasonably withheld, delayed or conditioned) (for purposes of the foregoing condition, it is hereby understood and agreed that (A) any reduction in the Exchange
Ratio (as defined in the Merger Agreement) in connection with the Merger Agreement, other than a reduction in the Exchange Ratio in accordance with the terms of the Merger Agreement (including, without limitation, working capital adjustments), shall
be deemed to be materially adverse to the interests of the Lenders (in their capacities as such), (B) any increase in the Exchange Ratio in connection with the Merger Agreement shall not be materially adverse to the interests of the Lenders (in
their capacities as such) so long as such increase is funded with common equity contributions, (C) any Exchange Ratio adjustment expressly contemplated by the Merger Agreement shall not be considered an amendment, waiver or other modification
of the Merger Agreement, (D) any change to or consent granted under the definition of Radiant Material Adverse Effect (as defined in the Merger Agreement) shall be deemed to be materially adverse to the Lenders, (E) any action taken by the
Super Parent or any of its Subsidiaries (including, without limitation, Radiant Merger Sub Ltd.) at the request of the Parent that would constitute an exception to Radiant Material Adverse Effect (as defined in the Merger Agreement) shall be deemed
to be materially adverse to the interests of the Lenders (in their capacities as such), and (F) any action taken by the Parent or any of its Subsidiaries (including, without limitation, the Borrowers) at the request of the Super Parent or
Radiant Merger Sub Ltd. that would constitute an exception to Radiant Material Adverse Effect (as defined in the Merger Agreement) shall be deemed to be materially adverse to the interests of the Lenders (in their capacities as such)); (iv) the
Specified Representations (as defined in the Debt Commitment Letter) shall be true and correct in all material respects (or in all respects to the extent qualified by materiality) as of the Tenth Amendment Effective Date; and (v) the Specified
Merger Agreement Representations are accurate in all respects to the extent that the Parent has the right to terminate its obligations under the Merger Agreement or not consummate the Transactions as a result of a breach of such representations in
the Merger Agreement (for purposes hereof, “Specified Merger Agreement Representations” means such of the representations made by or on behalf of the Super Parent and its Subsidiaries (including, without limitation, Radiant
Merger Sub Ltd.) in the Merger Agreement as are material to the interests of the Lenders); 

(e)    receipt by the Administrative Agent of a certificate of the Super Parent’s chief financial
officer certifying on behalf of the Super Parent and its Subsidiaries, that the Super Parent and its Subsidiaries (including, for the avoidance of doubt, the Loan Parties), on a consolidated basis after giving effect to this Agreement and the
Transactions, are Solvent (provided, that, such certificate shall be in substantially the same form as the similar certificate provided by the Borrowers on the Funding Date); 

  
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 (f)    receipt by the Administrative Agent of
satisfactory evidence that all existing Indebtedness for borrowed money of the Super Parent and its Subsidiaries (excluding Indebtedness permitted to exist pursuant to Section 8.03 of the Amended Credit Agreement), shall be repaid in full and
all security interests related thereto shall be terminated on or prior to the date hereof. For the avoidance of doubt, the Solar Indebtedness shall have been repaid in full and all security interests related thereto shall be terminated on or prior
to the date hereof. For purposes hereof, “Solar Indebtedness” means the Indebtedness evidenced by that certain Loan and Security Agreement dated as of May 10, 2018 among Solar Capital Ltd., as collateral agent, the other
lenders party thereto and the Super Parent; 
 (g)    receipt by the Administrative Agent of evidence
reasonably satisfactory to the Administrative Agent that (i) after giving effect to the Transactions, the former shareholders of the Parent shall collectively own greater than fifty percent (50%) of the aggregate ordinary voting power
represented by the issued and outstanding Equity Interests of the Super Parent on a fully-diluted basis, (ii) after giving effect to the Transactions, the Super Parent directly owns and controls 100% of the issued and outstanding Equity
Interests of the Parent, and (iii) after giving effect to the Transactions, the Parent directly owns and controls 100% of the issued and outstanding Equity Interests of each Borrower; 

(h)    the Loan Parties (including, for the avoidance of doubt, the Super Parent) and their respective
Subsidiaries shall have provided at least three (3) Business Days prior to the Tenth Amendment Effective Date the documentation and other information to the Lenders that is required by regulatory authorities under applicable “know
your customer” and anti-money-laundering rules and regulations, including, without limitation, the Act, to the extent requested at least ten (10) Business Days prior to the Tenth Amendment Effective Date; 

(i)    receipt by the Administrative Agent of the following, each of which shall be originals or pdf scans
or facsimiles (in each case followed promptly by originals), in form and substance reasonably satisfactory to the Administrative Agent and its legal counsel: 

(i)    (A) copies of the Organization Documents of the Super Parent certified to be true and complete as of
a recent date by the appropriate Governmental Authority of the state or other jurisdiction of its incorporation or organization, where applicable, and certified by a secretary or assistant secretary of the Super Parent (or other Responsible Officer
of the Super Parent) to be true and correct as of the Tenth Amendment Effective Date and (B) copies of the Articles of Association of the Parent, certified to be true and complete as of the Tenth Amendment Effective Date by a Responsible
Officer of the Parent; 
 (ii)    (A) such certificates of resolutions or other action, incumbency
certificates and/or other certificates of Responsible Officers of the Super Parent and the Parent as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a
Responsible Officer in connection with this Agreement and the other Investment Documents to which such Loan Party is a party and (B) without limiting the generality of the foregoing, (I) copies of resolutions of the Board of Directors of
the Super Parent and the Parent, as are required to comply with applicable law and the Organization Documents of the Super Parent and the Parent, as the case may be (and in the case of the Parent, concluding that execution and delivery by the

  
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Parent of this Agreement and any related documents, and the consummation of the transactions contemplated hereby, are for the commercial benefit of the company), (II) to the extent applicable,
copies of the resolutions of any committee of the Board of Directors of the Parent and (III) if any transaction contemplated by any Investment Document involving the Parent qualifies as a transaction with an Interested Party (baa’l
inyan) (as that term is defined in the Israeli Companies Law), resolutions of the audit committee, Board of Directors, and requisite shareholders of the Parent, as applicable in the relevant circumstances for the type of transaction and the
category of Interest Party approving each Investment Document to which the Parent is a party and the performance of the Parent’s obligations thereunder, all in accordance with the Israeli Companies Law, Part VI, Chapter 5; and 

(iii)    such documents and certifications as the Administrative Agent may require to evidence that each of
the Super Parent and the Parent is duly organized or formed, and is validly existing, in good standing and qualified to engage in business in its state or other jurisdiction of organization or formation; 

(j)    receipt by the Administrative Agent of evidence reasonably satisfactory to the Administrative Agent
that the Permitted Senior Revolving Credit Lender has consented to the Transactions; and 

(k)    receipt by the applicable party of all accrued fees and reasonable and documented out-of-pocket expenses of the Administrative Agent and the Lenders (including, without limitation, the fees and expenses of counsel for the Administrative Agent, subject to
any applicable limitations with respect thereto set forth in the Debt Commitment Letter). 
 4.    Equity
Contribution. The Loan Parties (including, for the avoidance of doubt, the Super Parent) hereby covenant and agree that by 5:00pm (Eastern time) on the Tenth Amendment Effective Date the Loan Parties (including, for the avoidance of doubt, the
Super Parent) shall provide a certificate of a Responsible Officer of the Loan Parties certifying that (a) the Equity Contribution has been consummated on the Tenth Amendment Effective Date and (b) immediately after giving effect to this
Agreement, the Transactions and the Equity Contribution, the Loan Parties shall have Unrestricted Cash of at least $20,000,000. Failure to comply with this Section 4 shall result in an immediate Event of Default. 

5.    Joinder of Super Parent. Effective as of the Tenth Amendment Effective Date: 

(a)    The Super Parent hereby acknowledges, agrees and confirms that, effective as of the Tenth Amendment
Effective Date, by its execution of this Agreement, the Super Parent will be deemed to be a party to the Amended Credit Agreement and a “Guarantor” for all purposes of the Amended Credit Agreement, and shall have all of the obligations of
a Guarantor thereunder as if it had executed the Amended Credit Agreement. The Super Parent hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions applicable to the Guarantors contained in the
Amended Credit Agreement. Without limiting the generality of the foregoing terms of this Section 5(a), the Super Parent hereby jointly and severally together with the other Guarantors, guarantees to each Lender and the
Administrative Agent, as provided in Article IV of the Amended Credit Agreement, as primary obligor and not as surety, the prompt payment and performance of the Obligations in full when due (whether at stated maturity, as a mandatory
prepayment, by acceleration or otherwise) strictly in accordance with the terms thereof. 
 (b)     The
Super Parent hereby acknowledges, agrees and confirms that, effective as of the Tenth Amendment Effective Date, by its execution of this Agreement, the Super Parent will be 

  
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deemed to be a party to the U.S. Security Agreement (the “Security Agreement”) and a “Grantor” for all purposes of the Security Agreement, and shall have all the
obligations of a Grantor thereunder as if it had executed the Security Agreement. The Super Parent hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions contained in the Security Agreement.
Without limiting the generality of the foregoing terms of this Section 5(b), the Super Parent hereby grants to the Administrative Agent, for the benefit of the Secured Parties, a continuing security interest in, any and all
right, title and interest of the Super Parent in and to the Collateral (as defined in the Security Agreement) of the Super Parent to secure the prompt payment and performance in full when due, whether by lapse of time, acceleration, mandatory
prepayment or otherwise, of the Secured Obligations (as defined in the Security Agreement). 
 (c)    The
Super Parent hereby acknowledges, agrees and confirms that, effective as of the Tenth Amendment Effective Date, by its execution of this Agreement, the Super Parent will be deemed to be a party to the U.S. Pledge Agreement (the “Pledge
Agreement”) and a “Pledgor” for all purposes of the Pledge Agreement, and shall have all the obligations of a Pledgor thereunder as if it had executed the Pledge Agreement. The Super Parent hereby ratifies, as of the date hereof,
and agrees to be bound by, all of the terms, provisions and conditions contained in the Pledge Agreement. Without limiting the generality of the foregoing terms of this Section 5(c), the Super Parent hereby grants, pledges
and assigns to the Administrative Agent, for the benefit of the Secured Parties, a continuing security interest in, any and all right, title and interest of the Super Parent in and to the Equity Interests of the Parent owned by the Super Parent and
all other Pledged Collateral (as defined in the Pledge Agreement) of the Super Parent to secure the prompt payment and performance in full when due, whether by lapse of time, acceleration, mandatory prepayment or otherwise, of the Secured
Obligations (as defined in the Pledge Agreement). 
 (d)    The Super Parent hereby represents and
warrants to the Administrative Agent and the Lenders that: 
 (i)    The Super Parent’s exact legal
name and state of organization (or foreign equivalent) are as set forth on the signature pages hereto. 

(ii)    The Super Parent’s tax payer identification number (or foreign equivalent) and organization
number (or foreign equivalent) are set forth on Schedule 6.20(b) hereto. 
 (iii)    Except as
set forth on Schedule 6.20(d) hereto, the Super Parent has not changed its legal name, changed its state of organization (or foreign equivalent), been party to a merger, amalgamation, consolidation or other change in structure in the five
years preceding the date hereof. 
 (iv)    Schedule 5(d)(iii) hereto includes all commercial
tort claims by or in favor of the Super Parent. 
 (e)    The address of the Super Parent for purposes of
all notices and other communications is the address designated for all Loan Parties on Schedule 11.02 to the Amended Credit Agreement or such other address as the Super Parent may from time to time notify the Administrative Agent in writing.

 (f)    Notwithstanding anything contained in this Agreement, the Amended Credit Agreement, or any
other Loan Document to the contrary, it is hereby understood and agreed that, to the extent (i) any security interest in any Collateral of the Super Parent is not or cannot be 

  
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perfected on the Tenth Amendment Effective Date (other than (A) certificated Equity Interests in Domestic Subsidiaries and (B) assets with respect to which a lien may be perfected by
the filing of a financing statement under the Uniform Commercial Code) or (ii) the endorsements required to comply with Section 3(b) above cannot be obtained by the date hereof, in each case, after the Loan
Parties’ use of commercially reasonable efforts to do so or without undue burden or expense, then the grant, provision and/or perfection of a security interest in such Collateral or the delivery of such endorsements, as applicable, shall not
constitute a condition precedent to the effectiveness of this Agreement, but instead shall be required to be delivered within ninety (90) days of the Tenth Amendment Effective Date. 

(g)    The Super Parent hereby waives acceptance by the Administrative Agent and the Lenders of the
guaranty by the Super Parent under Article IV of the Amended Credit Agreement upon the execution of this Agreement by the Super Parent. 

(h)    This Section 5 shall constitute a Joinder Agreement. 

6.    Post-Closing Obligations. 

(a)    On or before the date that is thirty (30) days after the Tenth Amendment Effective Date (or
such later date as the Administrative Agent may agree in its sole discretion), the Super Parent shall enter into such agreements as are deemed reasonably necessary by the Administrative Agent in its sole discretion in order to cause the
Administrative Agent, for the benefit of the Lenders, to have a first-priority, perfected security interest in (i) any Canadian intellectual property of the Super Parent and (ii) any U.S. intellectual property of the Super Parent,
including, without limitation, the Canadian Super Parent IP Security Agreement and any necessary or appropriate filings with the United States Copyright Office, the United States Patent and Trademark Office or the Canadian Intellectual Property
Office. 
 (b)    On or before the date that is sixty (60) days after the Tenth Amendment Effective
Date (or such later date as the Administrative Agent may agree in its sole discretion), (i) the Super Parent, and the Administrative Agent shall enter into the 2019 Israeli Pledge Agreement, (ii) the Super Parent shall deliver to the
Administrative Agent and the Lenders customary opinions of counsel to the Super Parent with respect to the 2019 Israeli Pledge Agreement, (iii) the Parent shall deliver to the Administrative Agent the undertakings of the Parent in connection
with the 2019 Israeli Pledge Agreement (which shall include the Parent’s undertaking to, inter alia, enter in the Parent’s shareholder register the details of the 2019 Israeli Pledge Agreement and pledge over the Equity Interests of
the Parent; register all transfers of the pledged Equity Interests and consent to such transfers made pursuant to the exercise by the Administrative Agent of any of its rights under the 2019 Israel Pledge Agreement; not register any transaction
which conflicts with the terms of the 2019 Israel Pledge Agreement; acknowledge and confirm correctness of a proxy granted by the Super Parent to the Administrative Agent with respect to the Equity Interests of the Parent; and upon the receipt of
notice from the Administrative Agent with respect to an event of default under the 2019 Israel Pledge Agreement, transfer to the Administrative Agent, all payments or distributions due to Super Parent with respect to the assets of the Parent pledged
under the 2019 Israel Pledge Agreement), (iv) the Super Parent shall cause to be made and procured all appropriate and timely filings, registrations and notifications with respect to the 2019 Israeli Pledge Agreement to ensure perfection of the
security interests contemplated thereby, such filings, registrations and notifications to be made within one (1) week of the execution by the Super Parent and the Administrative Agent of the 2019 Israeli Pledge Agreement and the requisite forms
to register such pledge with the Israeli Registrar of Pledges (or such later time as may be agreed to by the Administrative Agent, such agreement not to be unreasonably withheld), (v) the Parent and the

  
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Administrative Agent shall, in connection with each Israeli Security Agreement (other than the 2019 Israeli Pledge Agreement) filed or registered prior to the Tenth Amendment Effective Date with
or in the Israeli Companies Registrar or the Israeli Patent Office, jointly execute such notices of update to the Israeli Companies Registrar and to the Israeli Patent Office, respectively, with respect to this Agreement and the Amended Credit
Agreement (and all prior amendments to the Amended Credit Agreement), as is deemed reasonably appropriate by the Administrative Agent in its sole discretion, and (vi) the Parent shall cause to be made and procured all appropriate filings and
notifications of such notices as described in the foregoing clause (v) with or to the Israeli Companies Registrar or the Israeli Patent Office, respectively; provided, that, the Super Parent, the Parent and the
Administrative Agent shall use commercially reasonable efforts to comply with this clause (b) on or before the date that is thirty (30) days after the Tenth Amendment Effective Date. 

(c)    (i) On or before November 10, 2019 (or such later date as the Administrative Agent may agree in
its sole discretion), the Super Parent shall deliver to the Administrative Agent the insurance certificates with respect to the Super Parent and its Subsidiaries evidencing maintenance of the insurance coverage required by Section 7.07 of the
Amended Credit Agreement and (ii) on or before the date that is ninety (90) days after the Tenth Amendment Effective Date, the Super Parent shall deliver to the Administrative Agent the insurance endorsements with respect to the Super
Parent and its Subsidiaries required to be delivered pursuant to Section 7.07 of the Amended Credit Agreement. 

7.    Reaffirmation. Each of the Loan Parties acknowledges and reaffirms (a) that it is bound by all of the
terms of the Investment Documents to which it is a party, (b) that it is responsible for the observance and full performance of all of the Obligations, including without limitation, the repayment of the Loans and (c) that the Existing
Credit Agreement and the other Investment Documents shall remain in full force and effect according to their terms, except as expressly modified or waived by this Agreement. Furthermore, the Loan Parties acknowledge and confirm that by entering into
this Agreement, the Administrative Agent and the Lenders do not, except as expressly set forth herein, waive or release any term or condition of the Amended Credit Agreement or any of the other Investment Documents or any of their rights or remedies
under such Investment Documents or any applicable Law or any of the obligations of the Loan Parties thereunder. 

8.    Miscellaneous. 
  

	 	(a)	 This Agreement is a Loan Document. 

 

	 	(b)	 The Loan Parties hereby represent and warrant as follows: 

(i)    Each Loan Party has taken all necessary action to authorize the execution, delivery and performance
of this Agreement. 
 (ii)    This Agreement has been duly executed and delivered by such Loan Party and
constitutes such Loan Party’s legal, valid and binding obligations, enforceable in accordance with its terms, except as such enforceability may be limited by Debtor Relief Laws and general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law). 
 (iii)    No consent, approval,
exemption, authorization or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by any Loan Party of this Agreement except
as have been made or obtained. 

  
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 (c)    The Loan Parties represent and warrant to the
Administrative Agent and the Lenders that after giving effect to this Agreement (i) the representations and warranties of the Loan Parties set forth in Article VI of the Amended Credit Agreement and in each other Loan Document are true and
correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality or reference to Material Adverse Effect) as of the date hereof with the same effect as if made on and as of the date
hereof, except to the extent such representations and warranties expressly relate solely to an earlier date in which case they shall be true and correct in all material respects (and in all respects if any such representation or warranty is already
qualified by materiality or reference to Material Adverse Effect) as of such earlier date and (ii) no event has occurred and is continuing which constitutes a Default or an Event of Default. 

(d)    Each of the Loan Parties hereby affirms the Liens created and granted in the Loan Documents in favor
of the Administrative Agent, for the benefit of the Secured Parties, and agrees that this Agreement does not adversely affect or impair such liens and security interests in any manner. 

(e)    This Agreement may be executed in counterparts (and by different parties hereto in different
counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic imaging
means (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Agreement. 

(f)    If any provision of this Agreement is held to be illegal, invalid or unenforceable, (i) the
legality, validity and enforceability of the remaining provisions of this Agreement shall not be affected or impaired thereby and (ii) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. 
 (g)    THIS AGREEMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EACH BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT
COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST THE ADMINISTRATIVE AGENT, ANY LENDER OR ANY RELATED PARTY OF THE FOREGOING IN ANY WAY RELATING
TO THIS AGREEMENT OR ANY OTHER INVESTMENT DOCUMENT OR THE TRANSACTIONS RELATING HERETO OR THERETO, IN ANY OTHER FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK AND ANY UNITED STATES DISTRICT COURT IN THE STATE OF NEW YORK, IN EACH CASE LOCATED
IN NEW YORK COUNTY, NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION OR
PROCEEDING MAY BE  

  
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HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH
ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER INVESTMENT DOCUMENT SHALL AFFECT ANY RIGHT THAT THE
ADMINISTRATIVE AGENT OR ANY LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER INVESTMENT DOCUMENT AGAINST THE BORROWERS OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

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 Each of the parties hereto has caused a counterpart of this Agreement to be duly executed
and delivered as of the date first above written. 
  

							
	BORROWERS:	 		 	VENUS CONCEPT CANADA CORP.,
		 		 	an Ontario corporation
				
		 		 	By:	 	 /s/ Domenic Serafino

		 		 	Name:	 	Domenic Serafino
		 		 	Title:	 	Chief Executive Officer
			
		 		 	VENUS CONCEPT USA INC.,
		 		 	a Delaware corporation
				
		 		 	By:	 	 /s/ Domenic Serafino

		 		 	Name:	 	Domenic Serafino
		 		 	Title:	 	President
			
	PARENT:	 		 	VENUS CONCEPT LTD.,
		 		 	an Israeli corporation
				
		 		 	By:	 	 /s/ Domenic Serafino

		 		 	Name:	 	Domenic Serafino
		 		 	Title:	 	Chief Executive Officer
			
	SUPER PARENT:	 		 	VENUS CONCEPT INC.,
		 		 	a Delaware corporation
				
		 		 	By:	 	 /s/ Domenic Serafino

		 		 	Name:	 	Domenic Serafino
		 		 	Title:	 	Chief Executive Officer

 VENUS CONCEPT CANADA CORP. AND VENUS CONCEPT USA INC. 

TENTH AMENDMENT TO CREDIT AGREEMENT, CONSENT AND JOINDER AGREEMENT 

									
	ADMINISTRATIVE	 		 		 		 	
	AGENT:	 	MADRYN HEALTH PARTNERS, LP,
		 	a Delaware limited partnership
			
		 	By:	 	MADRYN HEALTH ADVISORS, LP,
		 		 	its General Partner
				
		 		 	By:	 	MADRYN HEALTH ADVISORS GP, LLC,
		 		 		 	its General Partner
					
		 		 		 	By:	 	 /s/ Peter Faroni

		 		 		 	Name:	 	 Peter Faroni

		 		 		 	Title:	 	 Member

  
 VENUS CONCEPT CANADA CORP.
AND VENUS CONCEPT USA INC. 
 TENTH AMENDMENT TO CREDIT AGREEMENT, CONSENT AND JOINDER AGREEMENT 

									
	LENDERS:	 	MADRYN HEALTH PARTNERS, LP,
		 	a Delaware limited partnership
			
		 	By:	 	MADRYN HEALTH ADVISORS, LP,
		 		 	its General Partner
				
		 		 	By:	 	MADRYN HEALTH ADVISORS GP, LLC,
		 		 		 	its General Partner
					
		 		 		 	By:	 	 /s/ Peter Faroni

		 		 		 	Name:	 	 Peter Faroni

		 		 		 	Title:	 	 Member

		
		 	MADRYN HEALTH PARTNERS (CAYMAN MASTER), LP
			
		 	By:	 	MADRYN HEALTH ADVISORS, LP,
		 		 	its General Partner
				
		 		 	By:	 	MADRYN HEALTH ADVISORS GP, LLC,
		 		 		 	its General Partner
					
		 		 		 	By:	 	 /s/ Peter Faroni

		 		 		 	Name:	 	 Peter Faroni

		 		 		 	Title:	 	 MemberEX-10.15

 Exhibit 10.15 

EXECUTION VERSION 

REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT (as it may be amended from time to time in accordance with the terms hereof, the
“Agreement”), dated as of November 7, 2019, is made by and among Venus Concept Inc. (formerly named Restoration Robotics, Inc. (“Restoration Robotics”)), a Delaware corporation (the “Company”)
and the investors listed on Schedule I hereto (together with their Permitted Transferees that become party hereto, the “Investors”). 

RECITALS 
 WHEREAS, the
Company, Venus Concept Ltd., a company organized under the laws of the State of Israel (“Venus Concept”) and Radiant Merger Sub Ltd., a direct wholly-owned subsidiary of the Company (“Radiant Merger Sub”) entered
into that certain Agreement and Plan of Merger and Reorganization, dated as of March 15, 2019 (the “Merger Agreement”), pursuant to which Radiant Merger Sub merged with and into Venus Concept upon the Effective Time (as defined
in the Merger Agreement) and Venus Concept continued as the surviving company (the “Merger”), upon satisfaction of the terms and conditions set forth in the Merger Agreement; and 

WHEREAS, the Company, Venus Concept and the Investors entered into that certain Note Purchase Agreements, each dated as of June 25, 2019
or August 21, 2019 (together, the “Note Purchase Agreements”), pursuant to which Venus Concept issued to the Investors an aggregate of $29.05 million aggregate principal amount of senior subordinated unsecured promissory notes
(the “Convertible Notes”) convertible into share of the Company immediately following the Effective Time (as defined in the Merger Agreement) and consummation of the Merger; 

WHEREAS, pursuant to the terms of the Note Purchase Agreements, the Company agreed to provide registration rights to the Investors. 

NOW, THEREFORE, in consideration of the foregoing and the mutual promises, covenants and agreements of the parties hereto, and for other good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE 1

 EFFECTIVENESS 

Section 1.1    Effectiveness. This Agreement shall become effective upon the Effective Time of the Merger and
the consummation of the Merger. 
 ARTICLE 2 

DEFINITIONS 

Section 2.1    Definitions. As used in this Agreement, the following terms shall have the following meanings:

 “Adverse Disclosure” means public disclosure of material non-public information that, in the good faith judgment of the
board of directors of the Company: (i) would be required to be 

 
made in any Registration Statement filed with the SEC by the Company so that such Registration Statement, from and after its effective date, does not contain an 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; (ii) would not be required to be made at such time but for the filing, effectiveness or continued use of such
Registration Statement; and (iii) the Company has a bona fide business purpose for not disclosing publicly. 

“Affiliate” means, with respect to any specified Person, (a) any Person that directly or indirectly through one or more
intermediaries controls, or is controlled by, or is under common control with, such specified Person or (b) in the event that the specified Person is a natural Person, a Member of the Immediate Family of such Person; provided that the
Company and each of its subsidiaries shall be deemed not to be Affiliates of any Investor. As used in this definition, the term “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 

“Agreement” shall have the meaning set forth in the preamble. 

“Business Day” means any day that is not a Saturday, a Sunday or other day on which banks are required or authorized by law
to be closed in the City of New York. 
 “Common Stock” means the common stock of the Company, par value $0.0001 per share.

 “Demand Registration” shall have the meaning set forth in Section 3.1.1(a). 

“Demand Registration Request” shall have the meaning set forth in Section 3.1.1(a). 

“Demand Registration Statement” shall have the meaning set forth in Section 3.1.1(c). 

“Demand Suspension” shall have the meaning set forth in Section 3.1.5. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor thereto, and any rules and
regulations promulgated thereunder, all as the same shall be in effect from time to time. 
 “FINRA” means the Financial
Industry Regulatory Authority. 
 “Issuer Free Writing Prospectus” means an issuer free writing prospectus, as defined in
Rule 433 under the Securities Act, relating to an offer of the Registrable Securities. 
 “Loss” shall have the meaning set
forth in Section 3.6.1. 
 “Member of the Immediate Family” means, with respect to any Person who is an individual,
(a) each parent, spouse (but not including a former spouse or a spouse from whom such Person is legally separated) or child (including those adopted) of such individual and (b) each trustee, solely in his or her capacity as trustee, for a
trust naming only one or more of the Persons listed in sub-clause (a) as beneficiaries. 

  
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 “Permitted Transferee” means any Affiliate of any Investor. 

“Person” means any individual, partnership, corporation, company, association, trust, joint venture, limited liability
company, unincorporated organization, entity or division, or any government, governmental department or agency or political subdivision thereof. 

“Piggyback Notice” shall have the meaning set forth in Section 3.3.1. 

“Piggyback Registration” shall have the meaning set forth in Section 3.3.1. 

“PIPE Registration Rights Agreement” shall have the meaning set forth in Section 3.3.2. 

“Prospectus” means (i) the prospectus included in any Registration Statement, all amendments and supplements to such
prospectus, including post-effective amendments and supplements, and all other material incorporated by reference in such prospectus, and (ii) any Issuer Free Writing Prospectus. 

“Public Offering” means the offer and sale of Registrable Securities for cash pursuant to an effective Registration Statement
under the Securities Act (other than a Registration Statement on Form S-4 or Form S-8 or any successor form). 
 “Registrable
Securities” means (i) all shares of Common Stock that are not then subject to forfeiture to the Company, (ii) all shares of Common Stock issuable upon exercise, conversion or exchange of any option, warrant or convertible security
not then subject to vesting or forfeiture to the Company and (iii) all shares of Common Stock directly or indirectly issued or then issuable with respect to the securities referred to in clauses (i) or (ii) above by way of a stock
dividend or stock split, or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when
(w) a Registration Statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been disposed of in accordance with such Registration Statement, (x) such
securities shall have been Transferred pursuant to Rule 144, (y) such holder is able to immediately sell such securities under Rule 144 without any restrictions on transfer (including without application of paragraphs (c), (d), (e),
(f) and (h) of Rule 144, and for purposes of Section 3.2, Rule 144(e) shall be applied as if such holder is an Affiliate), as reasonably determined by the Investor, or (z) such securities shall have ceased to be outstanding. 

“Registration” means registration under the Securities Act of the offer and sale to the public of any Registrable Securities
under a Registration Statement. The terms “register”, “registered” and “registering” shall have correlative meanings. 

“Registration Expenses” shall have the meaning set forth in Section 3.5.5. 

“Registration Statement” means any registration statement of the Company filed with, or to be filed with, the SEC under the
Securities Act, including the related Prospectus, amendments and supplements to such registration statement, including pre- and post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement
other than a registration statement (and related Prospectus) filed on Form S-4 or Form S-8 or any successor form thereto. 

  
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 “Representatives” means, with respect to any Person, any of such
Person’s officers, directors, employees, agents, attorneys, accountants, actuaries, consultants, equity financing partners or financial advisors or other Person associated with, or acting on behalf of, such Person. 

“Rule 144” means Rule 144 under the Securities Act (or any successor rule). 

“SEC” means the Securities and Exchange Commission or any successor agency having jurisdiction under the Securities Act. 

“Securities Act” means the Securities Act of 1933, as amended, and any successor thereto, and any rules and regulations
promulgated thereunder, all as the same shall be in effect from time to time. 
 “Selling Stockholder Information” shall
have the meaning set forth in Section 3.6.1. 
 “Shelf Period” shall have the meaning set forth in Section 3.2.3.

 “Shelf Registration” shall have the meaning set forth in Section 3.2.1(a). 

“Shelf Registration Request” shall have the meaning set forth in Section 3.2.1(a). 

“Shelf Registration Statement” shall have the meaning set forth in Section 3.2.1(a). 

“Shelf Suspension” shall have the meaning set forth in Section 3.2.3. 

“Shelf Takedown Request” shall have the meaning set forth in Section 3.2.4(a). 

“Transfer” means, with respect to any Registrable Security, any interest therein, or any other securities or equity interests
relating thereto, a direct or indirect transfer, sale, exchange, assignment, pledge, hypothecation or other encumbrance or other disposition thereof, including the grant of an option or other right, whether directly or indirectly, whether
voluntarily, involuntarily, by operation of law, pursuant to judicial process or otherwise. “Transferred” shall have a correlative meaning. 

“Underwritten Public Offering” means an underwritten Public Offering, including any bought deal or block sale to a financial
institution conducted as an underwritten Public Offering. 
 “Underwritten Shelf Takedown” means an Underwritten Public
Offering pursuant to an effective Shelf Registration Statement. 
 “WKSI” means any Securities Act registrant that is a
well-known seasoned issuer as defined in Rule 405 under the Securities Act at the most recent eligibility determination date specified in paragraph (2) of that definition. 

  
 - 4 - 

 Section 2.2    Other Interpretive Provisions. 

(a)    The meanings of defined terms are equally applicable to the singular and plural forms of the defined terms. 

(b)    The words “hereof”, “herein”, “hereunder” and similar words refer to this Agreement
as a whole and not to any particular provision of this Agreement; and any subsection and section references are to this Agreement unless otherwise specified. 

(c)    The term “including” is not limiting and means “including without limitation.” 

(d)    The captions and headings of this Agreement are for convenience of reference only and shall not affect the
interpretation of this Agreement. 
 (e)    Whenever the context requires, any pronouns used herein shall include the
corresponding masculine, feminine or neuter forms. 
 ARTICLE 3 

REGISTRATION RIGHTS 
 The
Company will perform and comply, and cause each of its subsidiaries to perform and comply, with such of the following provisions as are applicable to it. Each Investor will perform and comply with such of the following provisions as are applicable
to such Investor. 
 Section 3.1    Demand Registration. 

Section 3.1.1    Request for Demand Registration. 

(a)    At any time following the effective date of this Agreement, the Investor or Investors holding an aggregate of at
least a majority in interest of the outstanding shares of Registrable Securities shall have the right to make a written request from time to time (a “Demand Registration Request”) to the Company for Registration of all or part of
the Registrable Securities held by such Investors and any other Investor. Any such Registration pursuant to a Demand Registration Request shall hereinafter be referred to as a “Demand Registration”. 

(b)    Each Demand Registration Request shall specify (x) the kind and aggregate amount of Registrable Securities to
be registered, provided that the anticipated net proceeds from the Registrable Securities to be registered by all Investors must be at least $5,000,000, and (y) the intended method or methods of disposition thereof. 

(c)    Upon receipt of a Demand Registration Request, the Company shall as promptly as practicable file a Registration
Statement (a “Demand Registration Statement”) relating to such Demand Registration, and use its reasonable best efforts to cause such Demand Registration Statement to be promptly declared effective under the Securities Act. 

Section 3.1.2    Limitation on Demand Registrations. The Company shall not be obligated to take any action to
effect any Demand Registration if a Demand Registration was declared effective or an Underwritten Shelf Takedown requested by the Investors was consummated within the preceding one hundred eighty (180) days. 

  
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 Section 3.1.3    Demand Withdrawal. The Investors may
withdraw all or any portion of their Registrable Securities included in a Demand Registration from such Demand Registration at any time prior to the effectiveness of the applicable Demand Registration Statement. Upon receipt of a notice to such
effect from the Investor or Investors holding an aggregate of at least a majority in interest of the outstanding shares of Registrable Securities with respect to all of their Registrable Securities included in such Demand Registration, the Company
shall cease all efforts to secure effectiveness of the applicable Demand Registration Statement. 

Section 3.1.4    Effective Registration. The Company shall use reasonable best efforts to cause the Demand
Registration Statement to become effective and remain effective for not less than one hundred eighty (180) days (or such shorter period as will terminate when all Registrable Securities covered by such Demand Registration Statement have been
sold or withdrawn), or, if such Demand Registration Statement relates to an Underwritten Public Offering, such longer period as in the opinion of counsel for the underwriter or underwriters a Prospectus is required by law to be delivered in
connection with sales of Registrable Securities by an underwriter or dealer. 
 Section 3.1.5    Delay in
Filing; Suspension of Registration. If the filing, initial effectiveness or continued use of a Demand Registration Statement at any time would require the Company to make an Adverse Disclosure, the Company may, upon giving prompt written notice
of such action to the Investors, delay the filing or initial effectiveness of, or suspend use of, the Demand Registration Statement (a “Demand Suspension”); provided, however, that the Company shall not be permitted to
exercise a Demand Suspension more than once during any twelve (12)-month period for a period not to exceed sixty (60) days. In the case of a Demand Suspension, the Investors shall suspend use of the applicable Prospectus in connection with any
sale or purchase, or offer to sell or purchase, Registrable Securities, upon receipt of the notice referred to above. The Company shall immediately notify the Investors in writing upon the termination of any Demand Suspension, amend or supplement
the Prospectus, if necessary, so it does not contain any untrue statement or omission and furnish to the Investors such numbers of copies of the Prospectus as so amended or supplemented as the Investors may reasonably request. The Company shall, if
necessary, supplement or amend the Demand Registration Statement, if required by the registration form used by the Company for the Demand Registration or by the instructions applicable to such registration form or by the Securities Act or the rules
or regulations promulgated thereunder or as may reasonably be requested by the Investor. 
 Section 3.2    Shelf
Registration. 
 Section 3.2.1    Request for Shelf Registration. 

(a)    At any time following the effective date of this Agreement, upon the written request of the Investor or Investors
holding an aggregate of at least a majority in interest of the outstanding shares of Registrable Securities from time to time (a “Shelf Registration Request”), the Company shall file with the SEC a shelf Registration Statement
pursuant to Rule 

  
 - 6 - 

 
415 under the Securities Act (“Shelf Registration Statement”) relating to the offer and sale of Registrable Securities held by the Investors and any other Investors from time to
time in accordance with the methods of distribution elected by the Investors, and the Company shall use its reasonable best efforts to cause such Shelf Registration Statement to become effective under the Securities Act no later than 75 days
following such written request. Any such Registration pursuant to a Shelf Registration Request shall hereinafter be referred to as a “Shelf Registration.” 

(b)    If on the date of the Shelf Registration Request the Company is not a WKSI, then the Shelf Registration Request
shall specify the aggregate amount of Registrable Securities to be registered. The Company shall provide to the Investors the information necessary to determine the Company’s status as a WKSI upon request. 

Section 3.2.2    Continued Effectiveness. The Company shall use its reasonable best efforts to keep such Shelf
Registration Statement continuously effective under the Securities Act in order to permit the Prospectus forming part of the Shelf Registration Statement to be usable by an Investor until the earlier of: (i) the date as of which all Registrable
Securities have been sold pursuant to the Shelf Registration Statement or another Registration Statement filed under the Securities Act (but in no event prior to the applicable period referred to in Section 4(a)(3) of the Securities Act and
Rule 174 thereunder); and (ii) the date as of which an Investor no longer holds Registrable Securities (such period of effectiveness, the “Shelf Period”). 

Section 3.2.3    Suspension of Registration. If the continued use of such Shelf Registration Statement at any
time would require the Company to make an Adverse Disclosure, the Company may, upon giving prompt written notice of such action to the Investors, suspend use of the Shelf Registration Statement (a “Shelf Suspension”);
provided, however, that the Company shall not be permitted to exercise a Shelf Suspension more than one time during any twelve (12)-month period for a period not to exceed thirty (30) consecutive days. In the case of a Shelf
Suspension, the Investors agree to suspend use of the applicable Prospectus in connection with any sale or purchase of, or offer to sell or purchase, Registrable Securities, upon receipt of the notice referred to above. The Company shall immediately
notify the Investors in writing upon the termination of any Shelf Suspension, amend or supplement the Prospectus, if necessary, so it does not contain any untrue statement or omission and furnish to the Investors such numbers of copies of the
Prospectus as so amended or supplemented as the Investors may reasonably request. The Company shall, if necessary, supplement or amend the Shelf Registration Statement, if required by the registration form used by the Company for the Shelf
Registration Statement or by the instructions applicable to such registration form or by the Securities Act or the rules or regulations promulgated thereunder or as may reasonably be requested by the Investors. 

Section 3.2.4    Shelf Takedown. 

(a)    At any time the Company has an effective Shelf Registration Statement with respect to the Investors’
Registrable Securities, by notice to the Company specifying the intended method or methods of disposition thereof, the Investor or Investors holding an aggregate of at least a majority in interest of the outstanding shares of Registrable Securities
may make a written request (a “Shelf Takedown Request”) to the Company to effect a Public Offering, including an Underwritten Shelf Takedown, of all or a portion of the Investors’ and

  
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any other Investors Registrable Securities that may be registered under such Shelf Registration Statement, and as soon as practicable the Company shall amend or supplement the Shelf Registration
Statement as necessary for such purpose. 
 (b)    All determinations as to whether to complete any Underwritten Shelf
Takedown and as to the timing, manner, price and other terms of any Underwritten Shelf Takedown contemplated by this Section 3.2.4 shall be determined by the Investors. 

(c)    The Company shall not be obligated to take any action to effect any Underwritten Shelf Takedown if (x) the
anticipated net proceeds from the Registrable Securities to be sold are not at least $5,000,000, or (y) a Demand Registration was declared effective or an Underwritten Shelf Takedown requested by the Investors was consummated within the
preceding ninety (90) days. 
 Section 3.3    Piggyback Registration. 

Section 3.3.1    Participation. If the Company at any time proposes to file a Registration Statement under the
Securities Act or to conduct a Public Offering with respect to any offering of its equity securities for its own account or for the account of any other Persons (other than (i) a Registration under Sections 3.1 or 3.2, (ii) a Registration
on Form S-4 or Form S-8 or any successor form to such forms or (iii) a Registration of securities solely relating to an offering and sale to employees or directors of the Company or its subsidiaries pursuant to any employee stock plan or other
employee benefit plan arrangement), then, as soon as practicable (but in no event less than ten (10) Business Days prior to the proposed date of filing of such Registration Statement or, in the case of a Public Offering under a Shelf
Registration Statement, the anticipated pricing or trade date), the Company shall give written notice (a “Piggyback Notice”) of such proposed filing or Public Offering to the Investors, and such Piggyback Notice shall offer the
Investors the opportunity to register under such Registration Statement, or to sell in such Public Offering, such number of Registrable Securities as the Investors may request in writing (a “Piggyback Registration”). Subject to
Section 3.3.2, the Company shall include in such Registration Statement or in such Public Offering as applicable, all such Registrable Securities that are requested to be included therein within seven (7) Business Days after the receipt
from the Investor of any such notice; provided, however, that if at any time after giving written notice of its intention to register or sell any securities and prior to the effective date of the Registration Statement filed in
connection with such Registration, or the pricing or trade date of a Public Offering under a Shelf Registration Statement, the Company determines for any reason not to register or sell or to delay the Registration or sale of such securities, the
Company shall give written notice of such determination to the Investors and, thereupon, (i) in the case of a determination not to register or sell, shall be relieved of its obligation to register or sell any Registrable Securities in
connection with such Registration or Public Offering (but not from its obligation to pay the Registration Expenses in connection therewith), without prejudice, however, to the rights of any Investor to request that such Registration or sale be
effected as a Demand Registration under Section 3.1 or an Underwritten Shelf Takedown under Section 3.2, as the case may be, and (ii) in the case of a determination to delay Registration or sale, in the absence of a request for a
Demand Registration or an Underwritten Shelf Takedown, as the case may be, shall be permitted to delay registering or selling any Registrable Securities, for the same period as the delay in registering or selling such other securities. The Investors
shall have the right to withdraw all or part of their request for inclusion of its Registrable Securities in a Piggyback Registration by giving written notice to the Company of its request to withdraw. 

  
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 Section 3.3.2    Priority of Piggyback Registration. If the
managing underwriter or underwriters of any proposed offering of Registrable Securities included in a Piggyback Registration informs the Company and the Investors in writing that, in its or their opinion, the aggregate number of securities that the
Investors and any other Persons intend to include in such offering exceeds the number that can be sold in such offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or the
market for the securities offered, then the securities to be included in such Registration shall be (i) first, one hundred percent (100%) of the securities that the Company proposes to sell, and (ii) second, and only if all the
securities referred to in clause (i) have been included, the aggregate number of the Investors’ Registrable Securities and any Registrable Securities (as defined in the Registration Agreement, dated November 7, 2019, by and among the
Company and certain investors therein (the “PIPE Registration Rights Agreement”) as of the date hereof) held by the Piggyback Investors (as defined in the PIPE Registration Rights Agreement as of the date hereof) who have sought to
include such Registrable Securities in the proposed offering, on a pro rata basis based on such aggregate number of such securities, that, in the opinion of such managing underwriter or underwriters, can be sold without having such adverse effect
and (iii) third, and only if all of the Registrable Securities referred to in clause (ii) have been included in such Registration, any other securities eligible for inclusion in such Registration. 

Section 3.3.3    No Effect on Other Registrations. No Registration of Registrable Securities effected pursuant
to a request under this Section 3.3 shall be deemed to have been effected pursuant to Sections 3.1 and 3.2 or shall relieve the Company of its obligations under Sections 3.1 and 3.2. 

Section 3.3.4    Lock-Up Agreements. In connection with each Registration or sale of Registrable Securities
pursuant to Section 3.1, 3.2 or 3.3 conducted as an Underwritten Public Offering, the Company agrees to cause its directors and executive officers, if requested by the underwriters in such Underwritten Public Offering, to become bound by and to
execute and deliver a customary lock-up agreement with the underwriter(s) of such Underwritten Public Offering restricting such directors and officers and their respective affiliated funds from (a) transferring, directly or indirectly, any
equity securities of the Company held by such director, officer or affiliated fund or (b) entering into any swap or other arrangement that transfers to another any of the economic consequences of ownership of such securities during the period
commencing on the date of the final Prospectus relating to the Underwritten Public Offering and ending on the date specified by the underwriters (such period not to exceed ninety (90) days plus such additional period as may be requested by the
Company or an underwriter to accommodate regulatory restrictions on the publication or other distribution of research reports and analyst recommendations and opinions, if applicable). 

Section 3.4    Registration Procedures. 

Section 3.4.1    Requirements. In connection with the Company’s obligations under Sections 3.1 – 3.4,
the Company shall use its reasonable best efforts to effect such Registration and to permit the sale of such Registrable Securities in accordance with the intended 

  
 - 9 - 

 
method or methods of distribution thereof as expeditiously as reasonably practicable, and in connection therewith the Company shall: 

(a)    As promptly as practicable prepare the required Registration Statement, including all exhibits and financial
statements required under the Securities Act to be filed therewith and Prospectus, and, before filing a Registration Statement or Prospectus or any amendments or supplements thereto, (x) furnish to the underwriters, if any, and to the
Investors, copies of all documents prepared to be filed, which documents shall be subject to the review of such underwriters and the Investors and their respective counsel, (y) make such changes in such documents concerning an Investor prior to
the filing thereof as such Investor, or its counsel, may reasonably request and (z) except in the case of a Registration under Section 3.3 not file any Registration Statement or Prospectus or amendments or supplements thereto to which the
Investors, in such capacity, or the underwriters, if any, shall reasonably object; 
 (b)    prepare and file with the
SEC such amendments and post-effective amendments to such Registration Statement and supplements to the Prospectus as may be (x) reasonably requested by the Investors with Registrable Securities covered by such Registration Statement,
(y) reasonably requested by any Investor (to the extent such request relates to information relating to such Investor), or (z) necessary to keep such Registration Statement effective for the period of time required by this Agreement, and
comply with provisions of the applicable securities laws with respect to the sale or other disposition of all securities covered by such Registration Statement during such period in accordance with the intended method or methods of disposition by
the sellers thereof set forth in such Registration Statement; 
 (c)    notify the Investors and the managing
underwriter or underwriters, if any, and (if requested) confirm such notice in writing and provide copies of the relevant documents, as soon as reasonably practicable after notice thereof is received by the Company (a) when the applicable
Registration Statement or any amendment thereto has been filed or becomes effective, and when the applicable Prospectus or any amendment or supplement thereto has been filed, (b) of any written comments by the SEC, or any request by the SEC or
other federal or state governmental authority for amendments or supplements to such Registration Statement or such Prospectus, or for additional information (whether before or after the effective date of the Registration Statement) or any other
correspondence with the SEC relating to, or which may affect, the Registration, (c) of the issuance by the SEC of any stop order suspending the effectiveness of such Registration Statement or any order by the SEC or any other regulatory
authority preventing or suspending the use of any preliminary or final Prospectus or the initiation or threatening of any proceedings for such purposes, (d) if, at any time, the representations and warranties of the Company in any applicable
underwriting agreement cease to be true and correct in all material respects and (e) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Registrable Securities for offering or sale in any
jurisdiction or the initiation or threatening of any proceeding for such purpose; 
 (d)    promptly notify the
Investors and the managing underwriter or underwriters, if any, when the Company becomes aware of the happening of any event as a result of which the applicable Registration Statement or the Prospectus included in such Registration Statement (as
then in effect) contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements therein (in the case of such Prospectus or any 

  
 - 10 - 

 
preliminary Prospectus, in light of the circumstances under which they were made) not misleading, when any Issuer Free Writing Prospectus includes information that may conflict with the
information contained in the Registration Statement, or, if for any other reason it shall be necessary during such time period to amend or supplement such Registration Statement or Prospectus in order to comply with the Securities Act and, as
promptly as reasonably practicable thereafter, prepare and file with the SEC, and furnish without charge to the Investors and the managing underwriter or underwriters, if any, an amendment or supplement to such Registration Statement or Prospectus,
which shall correct such misstatement or omission or effect such compliance; 
 (e)    to the extent the Company is
eligible under the relevant provisions of Rule 430B under the Securities Act, if the Company files any Shelf Registration Statement, the Company shall include in such Shelf Registration Statement such disclosures as may be required by Rule 430B
under the Securities Act (referring to the unnamed selling security holders in a generic manner) in order to ensure that any Investor may be added to such Shelf Registration Statement at a later time through the filing of a Prospectus supplement
rather than a post-effective amendment; 
 (f)    use its reasonable best efforts to prevent, or obtain the withdrawal
of, any stop order or other order or notice preventing or suspending the use of any preliminary or final Prospectus; 

(g)    promptly incorporate in a Prospectus supplement, Issuer Free Writing Prospectus or post-effective amendment such
information as the managing underwriter or underwriters and Investors agree should be included therein relating to the plan of distribution with respect to such Registrable Securities; and make all required filings of such Prospectus supplement,
Issuer Free Writing Prospectus or post-effective amendment as soon as reasonably practicable after being notified of the matters to be incorporated in such Prospectus supplement, Issuer Free Writing Prospectus or post-effective amendment; 

(h)    furnish to the Investors and each underwriter, if any, without charge, as many conformed copies as the Investors or
such underwriter may reasonably request of the applicable Registration Statement and any amendment or post-effective amendment or supplement thereto, including financial statements and schedules, all documents incorporated therein by reference and
all exhibits (including those incorporated by reference); 
 (i)    deliver to the Investors and each underwriter, if
any, without charge, as many copies of the applicable Prospectus (including each preliminary Prospectus) and any amendment or supplement thereto and such other documents as the Investors or such underwriter may reasonably request in order to
facilitate the disposition of the Registrable Securities by the Investors or underwriter (it being understood that the Company shall consent to the use of such Prospectus or any amendment or supplement thereto by the Investors and the underwriters,
if any, in connection with the offering and sale of the Registrable Securities covered by such Prospectus or any amendment or supplement thereto); 

(j)    on or prior to the date on which the applicable Registration Statement becomes effective, use its reasonable best
efforts to register or qualify, and cooperate with the 

  
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Investors, the managing underwriter or underwriters, if any, and their respective counsel, in connection with the Registration or qualification of such Registrable Securities for offer and sale
under the securities or “Blue Sky” laws of each state and other jurisdiction as the Investors holding a majority of the Registrable Securities included in any such Registration Statement, managing underwriter or underwriters, if any, or
their respective counsel reasonably request in writing and do any and all other acts or things reasonably necessary or advisable at Investors’ expense to keep such Registration or qualification in effect for such period as required by
Section 3.1 or Section 3.2, as applicable, provided that the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to
taxation or general service of process in any such jurisdiction where it is not then so subject; 
 (k)    cooperate
with the Investors and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends and enable such
Registrable Securities to be in such denominations and registered in such names as the managing underwriters may request prior to any sale of Registrable Securities to the underwriters; 

(l)    use its reasonable best efforts to cause the Registrable Securities covered by the applicable Registration
Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter or underwriters, if any, to consummate the disposition of such Registrable
Securities; 
 (m)    make such representations and warranties to the Investors, and the underwriters or agents, if any,
in form, substance and scope as are customarily made by issuers in public offerings similar to the offering then being undertaken; 

(n)    enter into such customary agreements (including underwriting and indemnification agreements) and take all such
other actions as the Investors or the managing underwriter or underwriters, if any, reasonably request in order to expedite or facilitate the Registration and disposition of such Registrable Securities; 

(o)    obtain for delivery to the Investors and to the underwriter or underwriters, if any, an opinion or opinions from
counsel for the Company dated the most recent effective date of the Registration Statement or, in the event of an Underwritten Public Offering, the date of the closing under the underwriting agreement, in customary form, scope and substance, which
opinions shall be reasonably satisfactory to the Investors or underwriters, as the case may be, and their respective counsel; 

(p)    in the case of an Underwritten Public Offering, obtain for delivery to the Company and the managing underwriter or
underwriters, with copies to the Investors included in such Registration or sale, a comfort letter from the Company’s independent certified public accountants or independent auditors (and, if necessary, any other independent certified public
accountants or independent auditors of any subsidiary of the Company or any business acquired by the Company for which financial statements and financial data are, or are required to be, included in the Registration Statement) in customary form and
covering such matters of the type 

  
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customarily covered by comfort letters as the managing underwriter or underwriters reasonably request, dated the date of execution of the underwriting agreement and brought down to the closing
under the underwriting agreement; 
 (q)    cooperate with each Investor selling Registrable Securities and each
underwriter, if any, participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA; 

(r)    use its reasonable best efforts to comply with all applicable securities laws and, if a Registration Statement was
filed, make available to its security holders, as soon as reasonably practicable, an earnings statement satisfying the provisions of Section 11(a) of the Securities Act and the rules and regulations promulgated thereunder; 

(s)    provide and cause to be maintained a transfer agent and registrar for all Registrable Securities covered by the
applicable Registration Statement; 
 (t)    use its reasonable best efforts to cause all Registrable Securities covered
by the applicable Registration Statement to be listed on each securities exchange on which any of the Company’s equity securities are then listed or quoted and on each inter-dealer quotation system on which any of the Company’s equity
securities are then quoted; 
 (u)    in the case of an Underwritten Public Offering, cause the senior executive
officers of the Company to participate in the customary “road show” presentations that may be reasonably requested by the managing underwriter or underwriters in any such offering and otherwise to facilitate, cooperate with, and
participate in each proposed offering contemplated herein and customary selling efforts related thereto; 
 (v)    take
no direct or indirect action prohibited by Regulation M under the Exchange Act; 
 (w)    take all reasonable action to
ensure that any Issuer Free Writing Prospectus utilized in connection with any Registration complies in all material respects with the Securities Act, is filed in accordance with the Securities Act to the extent required thereby, is retained in
accordance with the Securities Act to the extent required thereby and, when taken together with the related Prospectus, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading; and 
 (x)    take all such other
commercially reasonable actions as are necessary or advisable in order to expedite or facilitate the disposition of such Registrable Securities in accordance with the terms of this Agreement. 

Section 3.4.2    Company Information Requests. The Company may require the Investors to furnish to the Company
such information regarding the distribution of such securities and such other information relating to the Investors and their ownership of Registrable Securities as the Company may from time to time reasonably request in writing and the Company may
exclude from such Registration or sale the Registrable Securities of the Investors who unreasonably fails to furnish such information within a reasonable time after receiving such request. Each Investor agrees to furnish such information to the
Company and to cooperate with the Company as reasonably necessary to enable the Company to comply with the provisions of this Agreement. 

  
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 Section 3.5    Underwritten Offerings. 

Section 3.5.1    Shelf and Demand Registrations. If requested by the underwriters for any Underwritten Public
Offering, pursuant to a Registration or sale under Sections 3.1 or 3.2, the Company shall enter into an underwriting agreement with such underwriters, such agreement to be reasonably satisfactory in substance and form to each of the Company, the
Investors and the underwriters, and to contain such representations and warranties by the Company and such other terms as are generally prevailing in agreements of that type, including indemnities no less favorable to the recipient thereof than
those provided in Section 3.6 of this Agreement. The Investors shall cooperate with the Company in the negotiation of the underwriting agreement and shall give consideration to the reasonable suggestions of the Company regarding the form
thereof, and the Investors shall complete and execute all questionnaires, powers of attorney and other documents reasonably requested by the underwriters and required under the terms of such underwriting arrangements. The Investors shall not be
required to make any representations or warranties to or agreements with the Company or the underwriters other than representations, warranties or agreements regarding the Investors, Investor’s title to the Registrable Securities,
Investor’s intended method of distribution and any other representations to be made by the Investor as are generally prevailing in agreements of that type, and the aggregate amount of the liability of the Investors under such agreement shall
not exceed the Investors’ proceeds from the sale of their Registrable Securities in the offering, net of underwriting discounts and commissions but before expenses. 

Section 3.5.2    Piggyback Registrations. If the Company proposes to register or sell any of its securities
under the Securities Act as contemplated by Section 3.3 and such securities are to be distributed through one or more underwriters, the Company shall, if requested by the Investors pursuant to Section 3.3 and, subject to the provisions of
Section 3.3.2, use its reasonable best efforts to arrange for such underwriters to include on the same terms and conditions that apply to the other sellers in such Registration or sale all the Registrable Securities to be offered and sold by
such Investors among the securities of the Company to be distributed by such underwriters in such Registration or sale. The Investors shall be party to the underwriting agreement between the Company and such underwriters and shall complete and
execute all questionnaires, powers of attorney and other documents reasonably requested by the underwriters and required under the terms of such underwriting arrangements. No Investor shall be required to make any representations or warranties to or
agreements with the Company or the underwriters other than representations, warranties or agreements regarding an Investor, Investor’s title to the Registrable Securities, Investor’s intended method of distribution and any other
representations to be made by the Investor as are generally prevailing in agreements of that type, and the aggregate amount of the liability of any Investor shall not exceed such Investor’s proceeds from the sale of its Registrable Securities
in the offering, net of underwriting discounts and commissions but before expenses. 

  
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 Section 3.5.3    Selection of Underwriters; Selection of
Counsel. In the case of an Underwritten Public Offering under Sections 3.1 or 3.2, the managing underwriter or underwriters to administer the offering shall be determined by the Investor or Investors holding an aggregate of at least a majority
in interest of the outstanding shares of Registrable Securities, provided that such underwriter or underwriters shall be reasonably acceptable to the Company. In the case of an Underwritten Public Offering under Section 3.3, the managing
underwriter or underwriters to administer the offering shall be determined by the Company; provided that such underwriter or underwriters shall be reasonably acceptable to such Investors. 

Section 3.5.4    No Inconsistent Agreements; Additional Rights. Neither the Company nor any of its
subsidiaries shall hereafter enter into, and neither the Company nor any of its subsidiaries is currently a party to, any agreement with respect to its securities that is inconsistent with the rights granted to the Investors by this Agreement.
Without approval of the Investor or Investors holding an aggregate of at least a majority in interest of the outstanding shares of Registrable Securities, neither the Company nor any of its subsidiaries shall enter into any agreement granting
registration or similar rights to any Person, and the Company hereby represents and warrants that, as of the date hereof, no registration or similar rights have been granted to any other Person other than pursuant to this Agreement. 

Section 3.5.5    Registration Expenses. All expenses incident to the Company’s performance of or
compliance with this Agreement shall be paid by the Company, including (i) all registration and filing fees, and any other fees and expenses associated with filings required to be made with the SEC or FINRA, (ii) all fees and expenses in
connection with compliance with any securities or “Blue Sky” laws (including reasonable fees and disbursements of counsel for the underwriters in connection with blue sky qualifications of the Registrable Securities), (iii) all
printing, duplicating, word processing, messenger, telephone, facsimile and delivery expenses (including expenses of printing certificates for the Registrable Securities in a form eligible for deposit with The Depository Trust Company and of
printing Prospectuses), (iv) all fees and disbursements of counsel for the Company and of all independent certified public accountants or independent auditors of the Company and any subsidiaries of the Company (including the expenses of any
special audit and comfort letters required by or incident to such performance), (v) Securities Act liability insurance or similar insurance if the Company so desires or the underwriters so require in accordance with then-customary underwriting
practice, (vi) all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange or quotation of the Registrable Securities on any inter-dealer quotation system, (vii) all reasonable
fees and disbursements of one legal counsel for the Investors, (ix) any reasonable fees and disbursements of underwriters customarily paid by issuers or sellers of securities, (x) all fees and expenses of any special experts or other
Persons retained by the Company in connection with any Registration or sale, (xi) all of the Company’s internal expenses (including all salaries and expenses of its officers and employees performing legal or accounting duties) and
(xii) all expenses related to the “road show” for any Underwritten Public Offering, including the reasonable out-of-pocket expenses of the Investors and underwriters, if so requested. All such expenses are referred to herein as
“Registration Expenses”. The Company shall not be required to pay any fees and disbursements to underwriters not customarily paid by the issuers of securities in an offering similar to the applicable offering, including underwriting
discounts and commissions and transfer taxes, if any, attributable to the sale of Registrable Securities. 

  
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 Section 3.6    Indemnification. 

Section 3.6.1    Indemnification by the Company. The Company shall indemnify and hold harmless, to the full
extent permitted by law, the Investors, each shareholder, member, limited or general partner of any Investor, each shareholder, member, limited or general partner of each such shareholder, member, limited or general partner, each of their respective
Affiliates, officers, directors, shareholders, employees, advisors, and agents and each Person who controls (within the meaning of the Securities Act or the Exchange Act) such Persons and each of their respective Representatives from and against any
and all losses, penalties, judgments, suits, costs, claims, damages, liabilities and expenses, joint or several (including reasonable costs of investigation and legal expenses as incurred and any indemnity and contribution payments made to
underwriters ) (each, a “Loss” and collectively “Losses”) arising out of or based upon (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement under which such
Registrable Securities are registered or sold under the Securities Act (including any final, preliminary or summary Prospectus contained therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein) or
any other disclosure document produced by or on behalf of the Company or any of its subsidiaries including any report and other document filed under the Exchange Act, (ii) any omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein (in the case of a Prospectus or preliminary Prospectus, in light of the circumstances under which they were made) not misleading or (iii) any violation or alleged
violation by the Company or any of its subsidiaries of any federal, state, foreign or common law rule or regulation applicable to the Company or any of its subsidiaries and relating to action or inaction in connection with any such registration,
disclosure document or other document or report; provided, that the Investors shall not be entitled to indemnification pursuant to this Section 3.6.1 in respect of any untrue statement or omission contained in any information relating to
any Investor furnished in writing by such Investor to the Company specifically for inclusion in a Registration Statement and used by the Company in conformity therewith (such information “Selling Stockholder Information”). This
indemnity shall be in addition to any liability the Company may otherwise have. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Investors or any indemnified party and shall survive the
Transfer of such securities by any Investor and regardless of any indemnity agreed to in the underwriting agreement that is less favorable to the Investors. The Company shall also indemnify underwriters, selling brokers, dealer managers and similar
securities industry professionals participating in the distribution, their officers and directors and each Person who controls such Persons (within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above (with
appropriate modification) with respect to the indemnification of the indemnified parties. 

Section 3.6.2    Indemnification by the Investors. Each Investor shall (severally and not jointly) indemnify
and hold harmless, to the fullest extent permitted by law, the Company, its directors and officers and each Person who controls the Company (within the meaning of the Securities Act or the Exchange Act) from and against any Losses resulting from
(i) any untrue statement of a material fact in any Registration Statement under which such Registrable Securities were registered or sold under the Securities Act (including any final, preliminary or summary Prospectus contained therein or any
amendment thereof or supplement thereto or any documents incorporated by reference therein) or (ii) any omission to state therein a 

  
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material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus or preliminary Prospectus, in light of the circumstances under which they were
made) not misleading, in each case to the extent, but only to the extent, that such untrue statement or omission is contained in such Investor’s Selling Stockholder Information. In no event shall the liability of any Investor hereunder be
greater in amount than the dollar amount of the proceeds from the sale of its Registrable Securities in the offering giving rise to such indemnification obligation, net of underwriting discounts and commissions but before expenses, less any amounts
paid by such Investor pursuant to Section 3.6.4 and any amounts paid by such Investor as a result of liabilities incurred under the underwriting agreement, if any, related to such sale. 

Section 3.6.3    Conduct of Indemnification Proceedings. Any Person entitled to indemnification hereunder
shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that any delay or failure to so notify the indemnifying party shall relieve the indemnifying party of
its obligations hereunder only to the extent, if at all, that it forfeits substantive legal rights by reason of such delay or failure) and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified party; provided, however, that any Person entitled to indemnification hereunder shall have the right to select and employ separate counsel and to participate in the defense of such claim, but the fees
and expenses of such counsel shall be at the expense of such Person unless (i) the indemnifying party has agreed in writing to pay such fees or expenses, (ii) the indemnifying party shall have failed to assume the defense of such claim
within a reasonable time after receipt of notice of such claim from the Person entitled to indemnification hereunder and employ counsel reasonably satisfactory to such Person, (iii) the indemnified party has reasonably concluded (based upon
advice of its counsel) that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, or (iv) in the reasonable judgment of any such Person
(based upon advice of its counsel) a conflict of interest may exist between such Person and the indemnifying party with respect to such claims (in which case, if the Person notifies the indemnifying party in writing that such Person elects to employ
separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such Person). If the indemnifying party assumes the defense, the indemnifying party shall not
have the right to settle such action without the consent of the indemnified party. No indemnifying party shall 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 an unconditional release from all liability in respect to such claim or litigation without the prior written consent of such indemnified party. If such defense is not assumed by the indemnifying
party, the indemnifying party will not be subject to any liability for any settlement made without its prior written consent, but such consent may not be unreasonably withheld. It is understood that the indemnifying party or parties shall not,
except as specifically set forth in this Section 3.6.3, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements or other charges of more than one separate firm admitted
to practice in such jurisdiction at any one time unless (x) the employment of more than one counsel has been authorized in writing by the indemnifying party or parties, (y) an indemnified party has reasonably concluded (based on the advice
of counsel) that there may be legal defenses available to it that are different from or in addition to those available to the other indemnified parties or (z) a conflict or potential conflict 

  
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exists or may exist (based upon advice of counsel to an indemnified party) between such indemnified party and the other indemnified parties, in each of which cases the indemnifying party shall be
obligated to pay the reasonable fees and expenses of such additional counsel or counsels. 

Section 3.6.4    Contribution. If for any reason the indemnification provided for in Section 3.6.1 and
Section 3.6.2 is unavailable to an indemnified party or insufficient in respect of any Losses referred to therein (other than as a result of exceptions or limitations on indemnification contained in Section 3.6.1 and Section 3.6.2),
then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and the
indemnified party or parties on the other hand in connection with the acts, statements or omissions that resulted in such Losses, as well as any other relevant equitable considerations. In connection with any Registration Statement filed with the
SEC by the Company, the relative fault of the indemnifying party on the one hand and the indemnified party on the other hand shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission. The parties hereto agree that it would not be just or equitable if contribution pursuant to this Section 3.6.4 were determined by pro rata allocation or by any other method of allocation that
does not take account of the equitable considerations referred to in this Section 3.6.4. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from
any Person who was not guilty of such fraudulent misrepresentation. The amount paid or payable by an indemnified party as a result of the Losses referred to in Sections 3.6.1 and 3.6.2 shall be deemed to include, subject to the limitations set forth
above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 3.6.4, in connection with any Registration
Statement filed by the Company, no Investor shall not be required to contribute any amount in excess of the dollar amount of the proceeds from the sale of its Registrable Securities in the offering giving rise to such indemnification obligation, net
of underwriting discounts and commissions but before expenses, less any amounts paid by such Investor pursuant to Section 3.6.2 and any amounts paid by such Investor as a result of liabilities incurred under the underwriting agreement, if any,
related to such sale. If indemnification is available under this Section 3.6, the indemnifying parties shall indemnify each indemnified party to the full extent provided in Sections 3.6.1 and 3.6.2 hereof without regard to the provisions of
this Section 3.6.4. The remedies provided for in this Section 3.6 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. 

Section 3.7    Rules 144 and 144A and Regulation S. The Company shall file the reports required to be filed by
it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder (or, if the Company is not required to file such reports, it will, upon the request of any Investor, make publicly available such necessary
information for so long as necessary to permit sales that would otherwise be permitted by this Agreement pursuant to Rule 144, Rule 144A or Regulation S 

  
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under the Securities Act, as such rules may be amended from time to time or any similar rule or regulation hereafter adopted by the SEC), and it will take such further action as any Investor may
reasonably request, all to the extent required from time to time to enable the Investors to sell Registrable Securities without Registration under the Securities Act in transactions that would otherwise be permitted by this Agreement and within the
limitation of the exemptions provided by (i) Rule 144, Rule 144A or Regulation S under the Securities Act, as such rules may be amended from time to time, or (ii) any similar rule or regulation hereafter adopted by the SEC. Upon the
request of any Investor, the Company will deliver to the Investors a written statement as to whether it has complied with such requirements and, if not, the specifics thereof. 

Section 3.8    Existing Registration Statements. Notwithstanding anything herein to the contrary and subject
to applicable law and regulation, the Company may satisfy any obligation hereunder to file a Registration Statement or to have a Registration Statement become effective by a specified date by designating, by notice to each Investor, a Registration
Statement that previously has been filed with the SEC or become effective, as the case may be, as the relevant Registration Statement for purposes of satisfying such obligation, and all references to any such obligation shall be construed
accordingly; provided that such previously filed Registration Statement may be, and is, amended or, subject to applicable securities laws, supplemented to add the number of Registrable Securities, and, to the extent necessary, to identify the
Investors as selling stockholders demanding the filing of a Registration Statement pursuant to the terms of this Agreement. To the extent this Agreement refers to the filing or effectiveness of other Registration Statements, by or at a specified
time and the Company has, in lieu of then filing such Registration Statements or having such Registration Statements become effective, designated a previously filed or effective Registration Statement as the relevant Registration Statement for such
purposes, in accordance with the preceding sentence, such references shall be construed to refer to such designated Registration Statement, as amended or supplemented in the manner contemplated by the immediately preceding sentence. 

ARTICLE 4 

MISCELLANEOUS 

Section 4.1    Authority: Effect. Each party hereto represents and warrants to and agrees with each other
party that the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized on behalf of such party and do not violate any agreement or other instrument applicable to such party or
by which its assets are bound. This Agreement does not, and shall not be construed to, give rise to the creation of a partnership among any of the parties hereto, or to constitute any of such parties members of a joint venture or other association.
The Company and its subsidiaries shall be jointly and severally liable for all obligations of each such party pursuant to this Agreement. 

  
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 Section 4.2    Notices. Any notices, requests, demands and
other communications required or permitted in this Agreement shall be effective if in writing and (i) delivered personally, (ii) sent by facsimile or e-mail, or (iii) sent by overnight courier, in each case, addressed as follows: 

If to the Company to: 
 Venus Concept Inc. 

235 Yorkland Blvd, Suite 900

Toronto, Ontario M2J 4Y8

Attention: Domenic DiSisto 

Email: ddisisto@venusconcept.com 
 With a copy to
(which shall not constitute notice): 
 Reed Smith LLP 

599 Lexington Avenue 
 New York,
NY 10022 
 Facsimile: (212) 521 5450 

Attention: Mark Pedretti 
 Email:
mpedretti@reedsmith.com 
 If to an Investor, to address, telephone, facsimile and email address set forth below the name of such Investor on the signature
pages of the Note Purchase Agreements. 
 Notice to the holder of record of any Registrable Securities shall be deemed to be notice to the
holder of such securities for all purposes hereof. 
 Unless otherwise specified herein, such notices or other communications shall be
deemed effective (i) on the date received, if personally delivered, (ii) on the date received if delivered by facsimile or e-mail on a Business Day, or if not delivered on a Business Day, on the first Business Day thereafter and
(iii) two (2) Business Days after being sent by overnight courier. Each of the parties hereto shall be entitled to specify a different address by giving notice as aforesaid to each of the other parties hereto. 

Section 4.3    Termination and Effect of Termination. This Agreement shall terminate upon the date on which
the Investors no longer holds any Registrable Securities, except for the provision of Sections 3.6, which shall survive any such termination. No termination under this Agreement shall relieve any Person of liability for breach or Registration
Expenses incurred prior to termination. In the event this Agreement is terminated, each Person entitled to indemnification rights pursuant to Section 3.6 hereof shall retain such indemnification rights with respect to any matter that
(i) may be an indemnified liability thereunder and (ii) occurred prior to such termination. 

Section 4.4    Permitted Transferees. The rights of the Investors hereunder may be assigned (but only with all
related obligations as set forth below) in connection with a Transfer of Registrable Securities to a Permitted Transferee of the Investor. Without prejudice to any other or similar conditions imposed hereunder with respect to any such Transfer, no
assignment permitted under the terms of this Section 4.4 will be effective unless the Permitted Transferee to which the assignment is being made, if not an Investor, has delivered to the Company a written acknowledgment and 

  
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agreement in form and substance reasonably satisfactory to the Company that the Permitted Transferee will be bound by, and will be a party to, this Agreement. A Permitted Transferee to whom
rights are transferred pursuant to this Section 4.4 may not again transfer those rights to any other Permitted Transferee, other than as provided in this Section 4.4. 

Section 4.5    Remedies. The parties to this Agreement shall have all remedies available at law, in equity or
otherwise in the event of any breach or violation of this Agreement or any default hereunder. The parties acknowledge and agree that in the event of any breach of this Agreement, in addition to any other remedies that may be available, each of the
parties hereto shall be entitled to specific performance of the obligations of the other parties hereto and, in addition, to such other equitable remedies (including preliminary or temporary relief) as may be appropriate in the circumstances. No
delay of or omission in the exercise of any right, power or remedy accruing to any party as a result of any breach or default by any other party under this Agreement shall impair any such right, power or remedy, nor shall it be construed as a waiver
of or acquiescence in any such breach or default, or of any similar breach or default occurring later; nor shall any such delay, omission nor waiver of any single breach or default be deemed a waiver of any other breach or default occurring before
or after that waiver. 
 Section 4.6    Amendments. This Agreement may be amended, modified, extended or
terminated, and the provisions hereof may be waived, only by an agreement in writing signed by the Company and the Investors holding a majority of the outstanding Registrable Securities; provided, however, that any amendment,
modification or waivers to Sections 3.3 or 3.5.2 shall also require the consent of the Investors (as defined in the PIPE Registration Rights Agreement as of the date hereof) holding a majority of the outstanding Registrable Securities (as defined in
the PIPE Registration Rights Agreement as of the date hereof). Each such amendment, modification, extension or termination shall be binding upon each party hereto. 

Section 4.7    Governing Law. This Agreement and all claims arising out of or based upon this Agreement or
relating to the subject matter hereof shall be governed by and construed in accordance with the domestic substantive laws of the State of Delaware without giving effect to any choice or conflict of laws provision or rule that would cause the
application of the domestic substantive laws of any other jurisdiction. 
 Section 4.8    Consent to
Jurisdiction. Each party to this Agreement, by its execution hereof, (i) hereby irrevocably submits to the exclusive jurisdiction of the state courts sitting in the State of Delaware for the purpose of any action, claim, cause of action or
suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or relating to the subject matter hereof, (ii) hereby waives to the extent not prohibited by applicable law, and agrees not
to assert, and agrees not to allow any of its subsidiaries to assert, by way of motion, as a defense or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is
exempt or immune from attachment or execution, that any such proceeding brought in one of the above-named courts is improper, or that this Agreement or the subject matter hereof or thereof may not be enforced in or by such court and
(iii) hereby agrees not to commence or maintain any action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or 

  
 - 21 - 

 
relating to the subject matter hereof or thereof other than before one of the above-named courts nor to make any motion or take any other action seeking or intending to cause the transfer or
removal of any such action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation to any court other than one of the above-named courts whether on the grounds of inconvenient forum or otherwise.
Notwithstanding the foregoing, to the extent that any party hereto is or becomes a party in any litigation in connection with which it may assert indemnification rights set forth in this Agreement, the court in which such litigation is being heard
shall be deemed to be included in clause (i) above. Notwithstanding the foregoing, any party to this Agreement may commence and maintain an action to enforce a judgment of any of the above-named courts in any court of competent jurisdiction.
Each party hereto hereby consents to service of process in any such proceeding in any manner permitted by Delaware law, and agrees that service of process by registered or certified mail, return receipt requested, at its address specified pursuant
to Section 4.2 hereof is reasonably calculated to give actual notice. 
 Section 4.9    WAIVER OF JURY
TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH PARTY HERETO HEREBY WAIVES AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT
OF ANY ISSUE OR ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT, TORT OR OTHERWISE), INQUIRY, PROCEEDING OR INVESTIGATION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF OR IN ANY WAY CONNECTED WITH OR RELATED OR
INCIDENTAL TO THE TRANSACTIONS CONTEMPLATED HEREBY, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING. EACH PARTY HERETO ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER PARTIES HERETO THAT THIS SECTION 4.9 CONSTITUTES A MATERIAL INDUCEMENT
UPON WHICH THEY ARE RELYING AND WILL RELY IN ENTERING INTO THIS AGREEMENT. ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 4.9 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS
RIGHT TO TRIAL BY JURY. 
 Section 4.10    Merger; Binding Effect, Etc. This Agreement constitutes
the entire agreement of the parties with respect to its subject matter, supersedes all prior or contemporaneous oral or written agreements or discussions with respect to such subject matter, and shall be binding upon and inure to the benefit of the
parties hereto and thereto and their respective heirs, representatives, successors and permitted assigns. Except as otherwise expressly provided herein, neither the Investors nor any other party hereto may assign any of its respective rights or
delegate any of its respective obligations under this Agreement without the prior written consent of the other parties hereto, and any attempted assignment or delegation in violation of the foregoing shall be null and void. 

Section 4.11    Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be
deemed an original, but all of which taken together shall constitute one instrument. 

  
 - 22 - 

 Section 4.12    Severability. In the event that any
provision hereof would, under applicable law, be invalid or unenforceable in any respect, such provision shall be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible under,
applicable law. The provisions hereof are severable, and in the event any provision hereof should be held invalid or unenforceable in any respect, it shall not invalidate, render unenforceable or otherwise affect any other provision hereof. 

Section 4.13    No Recourse. Notwithstanding anything that may be expressed or implied in this Agreement, the
Company and the Investors covenant, agree and acknowledge that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement shall be had against any current or future director, officer, employee,
general or limited partner or member of any Investor or of any Affiliate or assignee thereof, as such, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable
law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any current or future officer, agent or employee of any Investor or any current or future member of any
Investor or any current or future director, officer, employee, partner or member of any Investor or of any Affiliate or assignee thereof, as such, for any obligation of any Investor under this Agreement or any documents or instruments delivered in
connection with this Agreement for any claim based on, in respect of or by reason of such obligations or their creation. 
 [Signature
pages follow] 

  
 - 23 - 

 IN WITNESS WHEREOF, the undersigned has duly executed this Agreement as of the date
first above written. 
 Company: 
  

			
	Venus Concept Inc.
		
	By:	 	 /s/ Domenic Serafino

	Name:	 	Domenic Serafino
	Title:	 	Chief Executive Officer

 [Signature Page to Registration Rights Agreement] 

 IN WITNESS WHEREOF, the undersigned has duly executed this Agreement as of the date
first above written. 
 Investors: 
  

			
	EW HEALTHCARE PARTNERS, L.P.
	
	By: Essex Woodlands Fund IX-GP, L.P.,
its General Partner
	
	By: Essex Woodlands IX, LLC,
its General Partner

			
		
	By:	 	/s/ Scott Barry

			
	Name:	 	R. Scott Barry

			
	Title:	 	Authorized Signatory

  

			
	EW HEALTHCARE PARTNERS-A, L.P.
	
	By: Essex Woodlands Fund IX-GP, L.P.,
its General Partner
	
	By: Essex Woodlands IX, LLC,
its General Partner

			
		
	By:	 	/s/ Scott Barry

			
	Name:	 	R. Scott Barry

			
	Title:	 	Authorized Signatory

 [Signature Page to the Registration Rights Agreement] 

 IN WITNESS WHEREOF, the undersigned has duly executed this Agreement as of the date
first above written. 
 Investors: 
  

			
	HEALTHQUEST PARTNERS II, L.P.
	By: HealthQuest Venture Management II, L.L.C.,
its General Partner

			
		
	By:	 	/s/ Garheng Kong

			
	Name:	 	Garheng Kong

			
	Title:	 	Managing Partner

 [Signature Page to the Registration Rights Agreement] 

 IN WITNESS WHEREOF, the undersigned has duly executed this Agreement as of the date
first above written. 
 Investors: 
 LONGITUDE
VENTURE PARTNERS II, L.P. 

			
	
	 By: Longitude Capital Partners II, LLC,

its General Partner

		
	By:	 	 /s/ Juliet Bakker

			
	Name:	 	Juliet T. Bakker

			
	Title:	 	Managing Director

 [Signature Page to the Registration Rights Agreement] 

 IN WITNESS WHEREOF, the undersigned has duly executed this Agreement as of the date
first above written. 
  

			
	Investors:
	
	APERTURE VENTURE PARTNERS II, L.P.
	
	By: Aperture Venture II Management, LLC,
	its General Partner
		
	By:	 	/s/ Anthony Natale
	Name: Anthony Natale
	Title: Managing Member
	
	APERTURE VENTURE PARTNERS II-A, L.P.
	
	By: Aperture Venture II Management, LLC,
	its General Partner
		
	By:	 	/s/ Anthony Natale
	Name: Anthony Natale
	Title: Managing Member

  
 [Signature Page to the
Registration Rights Agreement] 

			
	APERTURE VENTURE PARTNERS II-B, L.P.
	
	By: Aperture Venture II Management, LLC,
its General Partner
		
	By:	 	/s/ Anthony Natale
	Name: Anthony Natale
	Title: Managing Member

  

			
	APERTURE VENTURE PARTNERS III, L.P.
	
	By: Aperture Venture II Management, LLC,
its General Partner
		
	By:	 	/s/ Anthony Natale
	Name: Anthony Natale
	Title: Managing Member

 [Signature Page to the Registration Rights Agreement] 

 IN WITNESS WHEREOF, the undersigned has duly executed this Agreement as of the date
first above written. 
  

			
	Investors:
	
	MADRYN HEALTH PARTNERS, L.P.
	
	By: Madryn Health Advisors, LP
	Its: General Partner

  

			
	
	By: Madryn Health Advisors GP, LLC
	Its: General Partner

			
		
	By:	 	/s/ Peter Faroni

			
	Name:	 	Peter Faroni
	Title:	 	Member

 [Signature Page to the Registration Rights Agreement] 

 IN WITNESS WHEREOF, the undersigned has duly executed this Agreement as of the date
first above written. 
 Investors: 
  

			
	 MADRYN HEALTH PARTNERS

(CAYMAN MASTER), L.P.

	
	By: Madryn Health Advisors, LP
	Its: General Partner

			
	
	By: Madryn Health Advisors GP, LLC
	Its: General Partner

			
		
	By:	 	/s/ Peter Faroni

			
	Name:	 	Peter Faroni
	Title:	 	Member

 [Signature Page to the Registration Rights Agreement] 

 IN WITNESS WHEREOF, the undersigned has duly executed this Agreement as of the date
first above written. 
 Investors: 

	
	
	/s/ Fred Moll
	Fred Moll

 [Signature Page to the Registration Rights Agreement]

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