Document:

EX-4.2

 Exhibit 4.2 
  

 
 ICOSAVAX, INC. 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

March 19, 2021 
  

 TABLE OF CONTENTS 

Page 
  

									
	1.	 	 Definitions
	  	 	1	 
			
	2.	 	 Registration Rights
	  	 	4	 
		 	 2.1
	  	 Demand Registration
	  	 	4	 
		 	 2.2
	  	 Company Registration
	  	 	6	 
		 	 2.3
	  	 Underwriting Requirements
	  	 	6	 
		 	 2.4
	  	 Obligations of the Company
	  	 	7	 
		 	 2.5
	  	 Furnish Information
	  	 	9	 
		 	 2.6
	  	 Expenses of Registration
	  	 	9	 
		 	 2.7
	  	 Delay of Registration
	  	 	9	 
		 	 2.8
	  	 Indemnification
	  	 	9	 
		 	 2.9
	  	 Reports Under Exchange Act
	  	 	11	 
		 	 2.10
	  	 Limitations on Subsequent Registration Rights
	  	 	11	 
		 	 2.11
	  	 “Market Stand-off” Agreement
	  	 	12	 
		 	 2.12
	  	 Restrictions on Transfer
	  	 	12	 
		 	 2.13
	  	 Termination of Registration Rights
	  	 	13	 
			
	3.	 	 Information and Observer Rights
	  	 	14	 
		 	 3.1
	  	 Delivery of Financial Statements
	  	 	14	 
		 	 3.2
	  	 Inspection
	  	 	15	 
		 	 3.3
	  	 Observer Rights
	  	 	15	 
		 	 3.4
	  	 Termination of Information, Inspection and Observer Rights
	  	 	16	 
		 	 3.5
	  	 Confidentiality
	  	 	16	 
			
	4.	 	 Rights to Future Stock Issuances
	  	 	17	 
		 	 4.1
	  	 Right of First Offer
	  	 	17	 
		 	 4.2
	  	 Termination
	  	 	18	 
			
	5.	 	 Additional Covenants
	  	 	18	 
		 	 5.1
	  	 Insurance
	  	 	18	 
		 	 5.2
	  	 Employee Agreements
	  	 	18	 
		 	 5.3
	  	 Employee Stock
	  	 	18	 
		 	 5.4
	  	 Qualified Small Business Stock
	  	 	19	 
		 	 5.5
	  	 Matters Requiring Investor Director Approval
	  	 	19	 
		 	 5.6
	  	 Board Matters
	  	 	20	 
		 	 5.7
	  	 Successor Indemnification
	  	 	21	 
		 	 5.8
	  	 Indemnification Matters
	  	 	21	 
		 	 5.9
	  	 Right to Conduct Activities
	  	 	21	 
		 	 5.10
	  	 Critical Technology Matters
	  	 	21	 
		 	 5.11
	  	 Tax Matters
	  	 	22	 
		 	 5.12
	  	 Termination of Covenants
	  	 	22	 
			
	6.	 	 Miscellaneous
	  	 	22	 
		 	 6.1
	  	 Successors and Assigns
	  	 	22	 
		 	 6.2
	  	 Governing Law
	  	 	 23
	 
		 	 6.3
	  	 Counterparts
	  	 	 23
	 
		 	 6.4
	  	 Titles and Subtitles
	  	 	 23
	 

  
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		 	 6.5
	  	 Notices
	  	 	23	 
		 	 6.6
	  	 Amendments and Waivers
	  	 	23	 
		 	 6.7
	  	 Severability
	  	 	24	 
		 	 6.8
	  	 Aggregation of Stock
	  	 	24	 
		 	 6.9
	  	 Additional Investors
	  	 	24	 
		 	 6.10
	  	 Entire Agreement; Effect on Prior Agreement
	  	 	24	 
		 	 6.11
	  	 Dispute Resolution
	  	 	25	 
		 	 6.12
	  	 Waiver of Jury Trial
	  	 	25	 
		 	 6.13
	  	 Delays or Omissions
	  	 	25	 

 Schedule A    -        Schedule of Investors 

Schedule B    -        Schedule of Key Holders 

  
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 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Agreement”), is made as of March 19,
2021, by and among Icosavax, Inc., a Delaware corporation (the “Company”), each of the investors listed on Schedule A hereto, (each of which is referred to in this Agreement as an “Investor”), each of the
stockholders listed on Schedule B hereto (each of whom is referred to herein as a “Key Holder”) and any additional purchaser of Preferred Stock (as defined below) that becomes a party to this Agreement in accordance with
Section 6.9 hereof. 
 RECITALS 

WHEREAS, certain of the Investors (the “Existing Investors”) hold shares of the Company’s Series A-1 Preferred Stock (as defined below) and Series A-2 Preferred Stock (as defined below) and possess certain registration rights, information rights, rights of first offer and
other rights pursuant to that certain Investors’ Rights Agreement, dated as of August 15, 2019, by and among the Company and such Existing Investors (the “Prior Agreement”); 

WHEREAS, the Existing Investors are holders of a majority of the Registrable Securities (as defined in the Prior
Agreement) of the Company as of the date hereof, and desire to amend and restate the Prior Agreement in its entirety and to accept the rights created pursuant to this Agreement in lieu of the rights granted to them under the Prior Agreement; and

 WHEREAS, certain of the Investors are parties to that certain Series B Preferred Stock Purchase Agreement of even
date herewith by and among the Company and such Investors (as may be amended from time to time, the “Purchase Agreement”), under which certain of the Company’s and such Investors’ obligations are conditioned upon the
execution and delivery of this Agreement by such Investors, the Key Holders and the Company. 
 NOW, THEREFORE, the
Company and the Existing Investors hereby agree that the Prior Agreement is hereby amended and restated in its entirety as set forth herein, and the parties to this Agreement further agree as follows: 

 

	 	1.	 Definitions. For purposes of this Agreement: 

“Adams Street” means Adams Street Growth Equity Fund VII or any of its Affiliates. 

“Affiliate” means, with respect to any specified Person, any other Person who, directly or indirectly,
controls, is controlled by, or is under common control with such Person, including without limitation any general partner, managing member, officer, director or trustee of such Person, or any venture capital fund, investment company or fund or any
other entity now or hereafter existing that is controlled by one or more general partners, managing members or investment adviser of, or shares the same management company or investment adviser with, such Person. 

“Aventis” means Aventis, Inc. or any of its Affiliates. 

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

“Certificate of Incorporation” means the Company’s Amended and Restated Certificate of Incorporation, as
may be amended from time to time. 

 “Common Stock” means shares of the Company’s common
stock, par value $0.0001 per share. 
 “Competitor” means, as of any date, a Person engaged, directly or
indirectly (including through any partnership, limited liability company, corporation, joint venture or similar arrangement (whether now existing or formed hereafter)), in the business conducted or proposed to be conducted by the Company on
such date, but shall not include the Major Investors and their Affiliates, or any financial investment firm or collective investment vehicle that, together with its Affiliates, holds less than twenty percent (20%) of the outstanding equity of any
Competitor and does not, nor do any of its Affiliates, have a right to designate any members of the board of directors of any Competitor. 

“Damages” means any loss, damage, claim or liability (joint or several) to which a party hereto may become
subject under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, claim or liability (or any action in respect thereof) arises out of or is based upon: (i) any untrue statement or alleged untrue
statement of a material fact contained in any registration statement of the Company, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto; (ii) an omission or alleged omission to
state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading; or (iii) any violation or alleged violation by the indemnifying party (or any of its agents or Affiliates) of
the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act, or any state securities law. 

“Derivative Securities” means any securities or rights convertible into, or exercisable or exchangeable for
(in each case, directly or indirectly), Common Stock, including options and warrants. 
 “DPA” means
Section 721 of the Defense Production Act, as amended, including all implementing regulations thereof. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated thereunder. 
 “Excluded Registration” means (i) a registration relating to the sale or
grant of securities to employees of the Company or a subsidiary pursuant to a stock option, stock purchase, equity incentive or similar plan; (ii) a registration relating to an SEC Rule 145 transaction; (iii) a registration on any form
that does not include substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities; or (iv) a registration in which the only Common Stock being registered is
Common Stock issuable upon conversion of debt securities that are also being registered. 
 “Form S-1” means such form under the Securities Act as in effect on the date hereof or any successor registration form under the Securities Act subsequently adopted by the SEC. 

“Form S-3” means such form under the Securities Act as in
effect on the date hereof or any registration form under the Securities Act subsequently adopted by the SEC that permits forward incorporation of substantial information by reference to other documents filed by the Company with the SEC. 

“GAAP” means generally accepted accounting principles in the United States as in effect from time to time.

 “Holder” means any holder of Registrable Securities who is a party to this Agreement. 

  
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 “Immediate Family Member” means a child, stepchild,
grandchild, parent, stepparent, grandparent, spouse, life partner or similar statutorily-recognized domestic partner, sibling, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, of a natural person referred to herein. 

“Initiating Holders” means, collectively, Holders who properly initiate a registration request under this
Agreement. 
 “IPO” means the Company’s first underwritten public offering of its Common Stock under
the Securities Act. 
 “Key Holder Registrable Securities” means (i) the shares of Common Stock held
by the Key Holders, and (ii) any Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in
replacement of such shares. 
 “Major Investor” means any Investor that, individually or together with such
Investor’s Affiliates, holds at least $4,999,990 of shares of Registrable Securities, based on the original purchase prices of such securities, and solely for purposes of Section 4 hereof, University of Washington
(“UW”). 
 “NanoDimension” means NanoDimension III, L.P. or any of its Affiliates. 

“New Securities” means, collectively, equity securities of the Company, whether or not currently authorized,
as well as rights, options, or warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible or exchangeable into or exercisable for such equity securities. 

“Person” means any individual, corporation, partnership, trust, limited liability company, association or
other entity. 
 “Preferred Directors” means, collectively, the Series
A-1 Directors and the Series B Director. 
 “Preferred Stock”
means, collectively, the Series A-1 Preferred Stock, the Series A-2 Preferred Stock, the Series B-1 Preferred Stock and the
Series B-2 Preferred Stock. 
 “Qiming” meas Qiming U.S. Healthcare
Fund II, L.P or any of its Affiliates. 
 “RA Capital” means RA Capital NEXUS Fund II, L.P. or any of its
Affiliates. 
 “Registrable Securities” means (i) the Common Stock issuable or issued upon conversion
of the Preferred Stock; (ii) any Common Stock, or any Common Stock issued or issuable (directly or indirectly) upon conversion and/or exercise of any other securities of the Company acquired by the
Investors after the date hereof; (iii) the Key Holder Registrable Securities, provided, however, that such Key Holder Registrable Securities shall not be deemed Registrable Securities and the Key Holders shall not be deemed Holders for the
purposes of Sections 2.1 (and any other applicable Section or Subsection with respect to registrations under Subsection 2.1) and 2.10 and the first sentence of Section 6.6; and (iv) any Common
Stock issued as (or issuable upon the conversion or exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the shares referenced in clauses
(i) and (ii) above; excluding in all cases, however, any Registrable Securities sold by a Person in a transaction in which the applicable rights under this Agreement are not

  
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assigned pursuant to Section 6.1, and excluding for purposes of Section 2 any shares for which registration rights have terminated pursuant to
Section 2.13 of this Agreement. 
 “Registrable Securities then
outstanding” means the number of shares determined by adding the number of shares of outstanding Common Stock that are Registrable Securities and the number of shares of Common Stock issuable (directly or indirectly) pursuant to then
exercisable and/or convertible securities that are Registrable Securities. 
 “Restricted Securities” means
the securities of the Company required to be notated with the legend set forth in Subsection 2.12(b) hereof. 

“SEC” means the Securities and Exchange Commission. 

“SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act. 

“SEC Rule 145” means Rule 145 promulgated by the SEC under the Securities Act. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder. 
 “Selling Expenses” means all underwriting discounts, selling commissions, and stock transfer
taxes applicable to the sale of Registrable Securities, and fees and disbursements of counsel for any Holder, except for the fees and disbursements of the Selling Holder Counsel borne and paid by the Company as provided in Subsection 2.6.

 “Series A-1 Director” means any director of the
Company that the holders of record of the Series A-1 Preferred Stock are entitled to elect, exclusively and as a separate class, pursuant to the Company’s Certificate of Incorporation. 

“Series A-1 Preferred Stock” means the shares of Series A-1 Preferred Stock, $0.0001 par value per share, of the Company. 
 “Series A-2 Preferred Stock” means shares of Series A-2 Preferred Stock, $0.0001 par value per share, of the Company. 

“Series B Director” means any director of the Company that the holders of record of the Series B-1 Preferred Stock and Series B-2 Preferred Stock are entitled to elect, voting together as a single class on an as-converted basis,
pursuant to the Company’s Certificate of Incorporation. 
 “Series B-1
Preferred Stock” means shares of Series B-1 Preferred Stock, $0.0001 par value per share, of the Company. 

“Series B-2 Preferred Stock” means shares of Series B-2 Preferred Stock, $0.0001 par value per share, of the Company. 
  

	 	2.	 Registration Rights. The Company covenants and agrees as follows: 

2.1    Demand Registration. 

(a)    Form S-1 Demand. If at any time after the earlier
of (i) five (5) years after the date of this Agreement or (ii) one hundred eighty (180) days after the effective date of the registration 

  
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statement for the IPO, the Company receives a request from Holders holding at least fifty percent (50%) of the Registrable Securities then outstanding that the Company file a Form S-1 registration statement with respect to outstanding Registrable Securities of such Holders having an anticipated aggregate offering price, net of Selling Expenses, of $10 million or more, then the
Company shall (x) within ten (10) days after the date such request is given, give notice thereof (the “Demand Notice”) to all Holders other than the Initiating Holders; and (y) as soon as practicable, and in any event
within sixty (60) days after the date such request is given by the Initiating Holders, file a Form S-1 registration statement under the Securities Act covering all Registrable Securities that the
Initiating Holders requested to be registered and any additional Registrable Securities requested to be included in such registration by any other Holders, as specified by notice given by each such Holder to the Company within twenty
(20) days of the date the Demand Notice is given, and in each case, subject to the limitations of Subsections 2.1(c) and 2.3. 

(b)    Form S-3 Demand. If at any time when it is eligible
to use a Form S-3 registration statement, the Company receives a request from Holders of at least twenty percent (20%) of the Registrable Securities then outstanding that the Company file a Form S-3 registration statement with respect to outstanding Registrable Securities of such Holders having an anticipated aggregate offering price, net of Selling Expenses, of at least $3 million, then the Company
shall (i) within ten (10) days after the date such request is given, give a Demand Notice to all Holders other than the Initiating Holders; and (ii) as soon as practicable, and in any event within forty-five (45) days after the
date such request is given by the Initiating Holders file a Form S-3 registration statement under the Securities Act covering all Registrable Securities requested to be included in such registration by any
other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days of the date the Demand Notice is given, and in each case, subject to the limitations of Subsections 2.1(c) and 2.3. 

(c)    Notwithstanding the foregoing obligations, if the Company furnishes to Holders requesting a
registration pursuant to this Subsection 2.1 a certificate signed by the Company’s chief executive officer stating that in the good faith judgment of the Board it would be materially detrimental to the Company and its stockholders for
such registration statement to either become effective or remain effective for as long as such registration statement otherwise would be required to remain effective, because such action would (i) materially interfere with a significant
acquisition, corporate reorganization, or other similar transaction involving the Company; (ii) require premature disclosure of material information that the Company has a bona fide business purpose for preserving as confidential; or
(iii) render the Company unable to comply with requirements under the Securities Act or Exchange Act, then the Company shall have the right to defer taking action with respect to such filing, and any time periods with respect to filing or
effectiveness thereof shall be tolled correspondingly, for a period of not more than sixty (60) days after the request of the Initiating Holders is given; provided, however, that the Company may not invoke this right more than
once in any twelve (12) month period; and provided further that the Company shall not register any securities for its own account or that of any other stockholder during such sixty (60) day period other than an Excluded
Registration. 
 (d)    The Company shall not be obligated to effect, or to take any action to effect,
any registration pursuant to Subsection 2.1(a) (i) during the period that is sixty (60) days before the Company’s good faith estimate of the date of filing of, and ending on a date that is one hundred eighty
(180) days after the effective date of, a Company-initiated registration, provided that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective;
(ii) after the Company has effected two registrations pursuant to Subsection 2.1(a); or (iii) if the Initiating Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3 pursuant to a request made pursuant to Subsection 2.1(b). The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Subsection 2.1(b) (i)
during the period that is thirty (30) days before the Company’s good faith estimate of the date of filing of, and ending on a date that is ninety (90) days after the effective date of, a Company-initiated registration,

  
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provided that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; or (ii) if the Company has
effected two registrations pursuant to Subsection 2.1(b) within the twelve (12) month period immediately preceding the date of such request. A registration shall not be counted as “effected” for purposes of this Subsection
2.1(d) until such time as the applicable registration statement has been declared effective by the SEC, unless the Initiating Holders withdraw their request for such registration, elect not to pay the registration expenses therefor, and
forfeit their right to one demand registration statement pursuant to Subsection 2.6, in which case such withdrawn registration statement shall be counted as “effected” for purposes of this Subsection 2.1(d); provided
that if such withdrawal is during a period when the Company has deferred taking action pursuant to Subsection 2.1(c), then the Initiating Holders may withdraw their request for registration and such registration will not be counted as
“effected” for purposes of this Subsection 2.1(d). 
 2.2    Company
Registration. If the Company proposes to register (including, for this purpose, a registration effected by the Company for stockholders other than the Holders) any of its securities under the Securities Act in connection with the public offering
of such securities solely for cash (other than in an Excluded Registration, a registration relating to a demand pursuant to Section 2.1 or the IPO), the Company shall, at such time, promptly give each Holder notice of such
registration. Upon the request of each Holder given within twenty (20) days after such notice is given by the Company, the Company shall, subject to the provisions of Subsection 2.3, cause to be registered all of the Registrable
Securities that each such Holder has requested to be included in such registration. The Company shall have the right to terminate or withdraw any registration initiated by it under this Subsection 2.2 before the effective date of such
registration, whether or not any Holder has elected to include Registrable Securities in such registration. The expenses (other than Selling Expenses) of such withdrawn registration shall be borne by the Company in accordance with Subsection
2.6. 
 2.3    Underwriting Requirements. 

(a)    If, pursuant to Subsection 2.1, the Initiating Holders intend to distribute the
Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to Subsection 2.1, and the Company shall include such information in the Demand Notice. The
underwriter(s) will be selected by the Company and shall be reasonably acceptable to a majority in interest of the Initiating Holders. In such event, the right of any Holder to include such Holder’s Registrable Securities in such registration
shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities
through such underwriting shall (together with the Company as provided in Subsection 2.4(e)) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting. Notwithstanding any other provision of
this Subsection 2.3, if the managing underwriter(s) advise(s) the Initiating Holders in writing that marketing factors require a limitation on the number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of
Registrable Securities that otherwise would be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be allocated among such Holders of Registrable Securities, including the Initiating
Holders, in proportion (as nearly as practicable) to the number of Registrable Securities owned by each Holder or in such other proportion as shall mutually be agreed to by all such selling Holders; provided, however, that the number
of Registrable Securities held by the Holders to be included in such underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting. To facilitate the allocation of shares in accordance with the above
provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest one hundred (100) shares. 

(b)    In connection with any offering involving an underwriting of shares of the Company’s capital
stock pursuant to Subsection 2.2, the Company shall not be required to include any of 

  
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the Holders’ Registrable Securities in such underwriting unless the Holders accept the terms of the underwriting as agreed upon between the Company and its underwriters, and then only in
such quantity, if any, as the underwriters in their sole discretion determine will not jeopardize the success of the offering by the Company. If the total number of securities, including Registrable Securities, requested by stockholders to be
included in such offering exceeds the number of securities to be sold (other than by the Company) that the underwriters in their reasonable discretion determine is compatible with the success of the offering, then the Company shall be required to
include in the offering only that number of such securities, including Registrable Securities, which the underwriters and the Company in their sole discretion determine will not jeopardize the success of the offering. If the underwriters determine
that less than all of the Registrable Securities requested to be registered can be included in such offering, then the Registrable Securities that are included in such offering shall be allocated among the selling Holders in proportion (as nearly as
practicable to) the number of Registrable Securities owned by each selling Holder or in such other proportions as shall mutually be agreed to by all such selling Holders. To facilitate the allocation of shares in accordance with the above
provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest one hundred (100) shares. Notwithstanding the foregoing, in no event shall (i) the number of Registrable Securities included
in the offering be reduced unless all other securities (other than securities to be sold by the Company) are first entirely excluded from the offering, (ii) the number of Registrable Securities included in the offering be reduced below thirty
(30%) of the total number of securities included in such offering, unless such offering is the IPO, in which case the selling Holders may be excluded further if the underwriters make the determination described above and no other stockholder’s
securities are included in such offering, or (iii) notwithstanding (ii) above, any Registrable Securities which are not Key Holder Registrable Securities be excluded from such underwriting unless all Key Holder Registrable Securities are first
excluded from such offering. For purposes of the provision in this Subsection 2.3(b) concerning apportionment, for any selling Holder that is a partnership, limited liability company, or corporation, the partners, members, retired partners,
retired members, stockholders, and Affiliates of such Holder, or the estates and Immediate Family Members of any such partners, retired partners, members, and retired members and any trusts for the benefit of any of the foregoing Persons, shall be
deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate number of Registrable Securities owned by all Persons included in such “selling
Holder,” as defined in this sentence. 
 (c)    For purposes of Subsection 2.1, a
registration shall not be counted as “effected” if, as a result of an exercise of the underwriter’s cutback provisions in Subsection 2.3(a), the total number of Registrable Securities that Holders have requested to be included
in such registration statement are not actually included. 
 2.4    Obligations of the Company.
Whenever required under this Section 2 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible: 

(a)    prepare and file with the SEC a registration statement with respect to such Registrable Securities
and use its commercially reasonable efforts to cause such registration statement to become effective and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep such registration statement effective
for a period of up to one hundred twenty (120) days or, if earlier, until the distribution contemplated in the registration statement has been completed; provided, however, that (i) such one hundred twenty (120) day
period shall be extended for a period of time equal to the period the Holder refrains, at the request of an underwriter of Common Stock (or other securities) of the Company, from selling any securities included in such registration, and (ii) in
the case of any registration of Registrable Securities on Form S-3 that are intended to be offered on a continuous or delayed basis, subject to compliance with applicable SEC rules, such one hundred twenty
(120) day period shall be extended for up to one hundred eighty (180) days to the extent necessary to keep the registration statement effective until all such Registrable Securities are sold; 

  
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 (b)    prepare and file with the SEC such amendments
and supplements to such registration statement, and the prospectus used in connection with such registration statement, as may be necessary to comply with the Securities Act in order to enable the disposition of all securities covered by such
registration statement; 
 (c)    furnish to the selling Holders such numbers of copies of a
prospectus, including a preliminary prospectus, as required by the Securities Act, and such other documents as the Holders may reasonably request in order to facilitate their disposition of their Registrable Securities; 

(d)    use its commercially reasonable efforts to register and qualify the securities covered by such
registration statement under such other securities or blue-sky laws of such jurisdictions as shall be reasonably requested by the selling Holders; provided that the Company shall not be required to
qualify to do business or to file a general consent to service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act; 

(e)    in the event of any underwritten public offering, enter into and perform its obligations under an
underwriting agreement, in usual and customary form, with the underwriter(s) of such offering; 

(f)    use its commercially reasonable efforts to cause all such Registrable Securities covered by such
registration statement to be listed on a national securities exchange or trading system and each securities exchange and trading system (if any) on which similar securities issued by the Company are then listed; 

(g)    provide a transfer agent and registrar for all Registrable Securities registered pursuant to this
Agreement and provide a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration; 

(h)    promptly make available for inspection by the selling Holders, any managing underwriter(s)
participating in any disposition pursuant to such registration statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the selling Holders, all financial and other records, pertinent corporate
documents, and properties of the Company, and cause the Company’s officers, directors, employees, and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant, or agent, in
each case, as necessary or advisable to verify the accuracy of the information in such registration statement and to conduct appropriate due diligence in connection therewith; 

(i)    notify each selling Holder, promptly after the Company receives notice thereof, of the time when
such registration statement has been declared effective or a supplement to any prospectus forming a part of such registration statement has been filed; and 

(j)    after such registration statement becomes effective, notify each selling Holder of any request by
the SEC that the Company amend or supplement such registration statement or prospectus. 
 In addition, the Company shall
ensure that, at all times after any registration statement covering a public offering of securities of the Company under the Securities Act shall have become effective, its insider trading policy shall provide that the Company’s directors may
implement a trading program under Rule 10b5-1 of the Exchange Act. 

  
 8 

 2.5    Furnish Information. It shall be a
condition precedent to the obligations of the Company to take any action pursuant to this Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such
information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as is reasonably required to effect the registration of such Holder’s Registrable Securities. 

2.6    Expenses of Registration. All expenses (other than Selling Expenses) incurred in connection
with registrations, filings, or qualifications pursuant to Section 2, including all registration, filing, and qualification fees; printers’ and accounting fees; fees and disbursements of counsel for the Company; and
the reasonable fees and disbursements, not to exceed $50,000, of one counsel for the selling Holders (“Selling Holder Counsel”), shall be borne and paid by the Company; provided, that the Company shall not be required to pay
for any expenses of any registration proceeding begun pursuant to Subsection 2.1 if the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case
all selling Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be included in the withdrawn registration), unless the Holders of a majority of the Registrable Securities agree to forfeit their
right to one registration pursuant to Subsections 2.1(a) or 2.1(b), as the case may be; provided further that if, at the time of such withdrawal, the Holders shall have learned of a material adverse change in the
condition, business, or prospects of the Company from that known to the Holders at the time of their request and have withdrawn the request with reasonable promptness after learning of such information then the Holders shall not be required to pay
any of such expenses and shall not forfeit their right to one registration pursuant to Subsections 2.1(a) or 2.1(b). All Selling Expenses relating to Registrable Securities registered pursuant to this
Section 2 shall be borne and paid by the Holders pro rata on the basis of the number of Registrable Securities registered on their behalf. 

2.7    Delay of Registration. No Holder shall have any right to obtain or seek an injunction
restraining or otherwise delaying any registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 

2.8    Indemnification. If any Registrable Securities are included in a registration statement
under this Section 2: 
 (a)    To the extent permitted by law, the Company
will indemnify and hold harmless each selling Holder, and the partners, members, officers, directors, and stockholders of each such Holder; legal counsel and accountants for each such Holder; any underwriter (as defined in the Securities Act) for
each such Holder; and each Person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any Damages, and the Company will pay to each such Holder, underwriter, controlling Person, or
other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however,
that the indemnity agreement contained in this Subsection 2.8(a) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Company, which consent shall not
be unreasonably withheld, nor shall the Company be liable for any Damages to the extent that they arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of any
such Holder, underwriter, controlling Person, or other aforementioned Person expressly for use in connection with such registration. 

(b)    To the extent permitted by law, each selling Holder, severally and not jointly, will indemnify and
hold harmless the Company, and each of its directors, each of its officers who has signed the registration statement, each Person (if any), who controls the Company within the meaning of the Securities Act, legal counsel and accountants for the
Company, any underwriter (as defined in the 

  
 9 

 
Securities Act), any other Holder selling securities in such registration statement, and any controlling Person of any such underwriter or other Holder, against any Damages, in each case only to
the extent that such Damages arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of such selling Holder expressly for use in connection with such
registration; and each such selling Holder will pay to the Company and each other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages
may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this Subsection 2.8(b) shall not apply to amounts paid in settlement of any such claim or proceeding if such
settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld; and provided further that in no event shall the aggregate amounts payable by any Holder by way of indemnity or contribution
under Subsections 2.8(b) and 2.8(d) exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of fraud or willful misconduct by such Holder. 

(c)    Promptly after receipt by an indemnified party under this Subsection 2.8 of notice
of the commencement of any action (including any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this
Subsection 2.8, give the indemnifying party notice of the commencement thereof. The indemnifying party shall have the right to participate in such action and, to the extent the indemnifying party so desires, participate jointly with any other
indemnifying party to which notice has been given, and to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may
be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the
indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such action. The failure to give notice to the indemnifying party within a
reasonable time of the commencement of any such action shall relieve such indemnifying party of any liability to the indemnified party under this Subsection 2.8, to the extent that such failure materially prejudices the indemnifying
party’s ability to defend such action. The failure to give notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Subsection 2.8. 

(d)    To provide for just and equitable contribution to joint liability under the Securities Act in any
case in which either: (i) any party otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Subsection 2.8 but it is judicially determined (by the entry of a final judgment or decree by a court
of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact that this Subsection 2.8 provides for
indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of any party hereto for which indemnification is provided under this Subsection 2.8, then, and in each such case, such parties will
contribute to the aggregate losses, claims, damages, liabilities, or expenses to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of each of the indemnifying party and the
indemnified party in connection with the statements, omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable considerations. The relative fault of the
indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates to
information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided, however,
that, in any such case (x) no Holder will be required to contribute any amount in excess of the public offering price of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement,

  
 10 

 
and (y) no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not guilty
of such fraudulent misrepresentation; and provided further that in no event shall a Holder’s liability pursuant to this Subsection 2.8(d), when combined with the amounts paid or payable by such Holder pursuant to
Subsection 2.8(b), exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of willful misconduct or fraud by such Holder. 

(e)    Notwithstanding the foregoing, to the extent that the provisions on indemnification and
contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 

(f)    Unless otherwise superseded by an underwriting agreement entered into in connection with the
underwritten public offering, the obligations of the Company and Holders under this Subsection 2.8 shall survive the completion of any offering of Registrable Securities in a registration under this Section 2, and
otherwise shall survive the termination of this Agreement. 
 2.9    Reports Under Exchange Act.
With a view to making available to the Holders the benefits of SEC Rule 144 and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a
registration on Form S-3, the Company shall: 
 (a)    make and
keep available adequate current public information, as those terms are understood and defined in SEC Rule 144, at all times after the effective date of the registration statement filed by the Company for the IPO; 

(b)    use commercially reasonable efforts to file with the SEC in a timely manner all reports and other
documents required of the Company under the Securities Act and the Exchange Act (at any time after the Company has become subject to such reporting requirements); and 

(c)    furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon
request (i) to the extent accurate, a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety (90) days after the effective date of the registration statement filed by
the Company for the IPO), the Securities Act, and the Exchange Act (at any time after the Company has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after the Company so qualifies); and (ii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC that permits the selling of any such
securities without registration (at any time after the Company has become subject to the reporting requirements under the Exchange Act) or pursuant to Form S-3 (at any time after the Company so qualifies to
use such form). 
 2.10    Limitations on Subsequent Registration Rights. From and after the date
of this Agreement, the Company shall not, without the prior written consent of the Holders of at least thirty percent (30%) of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective holder of any
securities of the Company that would allow such holder or prospective holder (i) to include such securities in any registration unless, under the terms of such agreement, such holder or prospective holder may include such securities in any such
registration only to the extent that the inclusion of such securities will not reduce the number of the Registrable Securities of the Holders that are included; or (ii) allow such holder or prospective holder to initiate a demand for
registration of any securities held by such holder or prospective holder; provided that this limitation shall not apply to any additional Investor who becomes a party to this Agreement in accordance with Subsection 6.9. 

  
 11 

 2.11    “Market Stand-off” Agreement. Each Holder hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus
relating to the IPO and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days), (i) lend; offer; pledge; sell; contract to sell; sell any option or contract to
purchase; purchase any option or contract to sell; grant any option, right, or warrant to purchase; or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or
exchangeable (directly or indirectly) for Common Stock held immediately before the effective date of the registration statement for the IPO or (ii) enter into any swap or other arrangement that transfers to another, in whole or in
part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash, or otherwise. The foregoing
provisions of this Subsection 2.11 shall apply only to the IPO, shall not apply to transactions (including, without limitation, any swap, hedge or similar agreement or arrangement) or announcements, in each case, relating to securities
acquired in the IPO or securities acquired in open market or other transactions from and after the IPO or that otherwise do not involve or relate to securities of the Company owned by a Holder or its Affiliates prior to the IPO, shall not apply to
the sale of any shares to an underwriter pursuant to an underwriting agreement, or the transfer of any shares to any trust for the direct or indirect benefit of the Holder or the immediate family of the Holder, provided that the trustee of
the trust agrees to be bound in writing by the restrictions set forth herein, and provided further that any such transfer shall not involve a disposition for value, and shall be applicable to the Holders only if all officers, directors
and stockholders (together with their Affiliates) owning more than 1% of the Company’s outstanding Common Stock (after giving effect to conversion into Common Stock of all outstanding Preferred Stock) are subject to the same restrictions. The
underwriters in connection with such registration are intended third-party beneficiaries of this Subsection 2.11 and shall have the right, power and authority to enforce the provisions hereof as though
they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in connection with such registration that are consistent with this Subsection 2.11 or that are necessary to
give further effect thereto. Any discretionary waiver or termination of the restrictions or any or all of such agreements by the Company or the underwriters shall apply pro rata to all Company stockholders that are subject to such agreements, based
on the number of shares subject to such agreements. 
 2.12    Restrictions on Transfer. 

(a)    The Preferred Stock and the Registrable Securities shall not be sold, pledged, or otherwise
transferred, and the Company shall not recognize and shall issue stop-transfer instructions to its transfer agent with respect to any such sale, pledge, or transfer, except upon the conditions specified in this Agreement, which conditions are
intended to ensure compliance with the provisions of the Securities Act. A transferring Holder will cause any proposed purchaser, pledgee, or transferee of the Preferred Stock and the Registrable Securities held by such Holder to agree to take and
hold such securities subject to the provisions and upon the conditions specified in this Agreement. Notwithstanding the foregoing, the Company shall not require any transferee of shares pursuant to an effective registration statement or, following
the IPO, SEC Rule 144, in each case, to be bound by the terms of this Agreement. For the avoidance of doubt, a customary arrangement in connection with the deposit of Registrable Securities in a non-margin
custodial account shall not be deemed a sale, transfer or pledge for purposes of this Agreement so long as such registrable securities are in certificated form (it being understood that the Company may require the exchange of any such certificated
securities for book-entry shares upon the IPO). 
 (b)    Each certificate, instrument, or book entry
representing (i) the Preferred Stock, (ii) the Registrable Securities, and (iii) any other securities issued in respect of the securities referenced in clauses (i) and (ii), upon any stock split, stock dividend, recapitalization,
merger, 

  
 12 

 
consolidation, or similar event, shall (unless otherwise permitted by the provisions of Subsection 2.12(c)) be notated with a legend substantially in the following form: 

THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED. SUCH SHARES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID EXEMPTION FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT. 

THE SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND
THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. 
 The Holders consent to the Company making
a notation in its records and giving instructions to any transfer agent of the Restricted Securities in order to implement the restrictions on transfer set forth in this Subsection 2.12. 

(c)    The holder of such Restricted Securities, by acceptance of ownership thereof, agrees to comply in
all respects with the provisions of this Section 2. Before any proposed sale, pledge, or transfer of any Restricted Securities, unless there is in effect a registration statement under the Securities Act covering the
proposed transaction or following the IPO, the transfer is made pursuant to SEC Rule 144, the Holder thereof shall give notice to the Company of such Holder’s intention to effect such sale, pledge, or transfer, provided that no such
notice shall be required if the intended sale, pledge or transfer complies with SEC Rule 144. Each such notice shall describe the manner and circumstances of the proposed sale, pledge, or transfer in sufficient detail and, if reasonably requested by
the Company, shall be accompanied at such Holder’s expense by either (i) a written opinion of legal counsel who shall, and whose legal opinion shall, be reasonably satisfactory to the Company, addressed to the Company, to the effect that
the proposed transaction may be effected without registration under the Securities Act; (ii) a “no action” letter from the SEC to the effect that the proposed sale, pledge, or transfer of such Restricted Securities without
registration will not result in a recommendation by the staff of the SEC that action be taken with respect thereto; or (iii) any other evidence reasonably satisfactory to counsel to the Company to the effect that the proposed sale, pledge, or
transfer of the Restricted Securities may be effected without registration under the Securities Act, whereupon the Holder of such Restricted Securities shall be entitled to sell, pledge, or transfer such Restricted Securities in accordance with the
terms of the notice given by the Holder to the Company. The Company will not require such a notice, legal opinion or “no action” letter (x) in any transaction in compliance with SEC Rule 144; or (y) in any transaction in which
such Holder distributes Restricted Securities to an Affiliate of such Holder for no consideration; provided that each transferee agrees in writing to be subject to the terms of this Subsection 2.12. Each certificate, instrument, or
book entry representing the Restricted Securities transferred as above provided shall be notated with, except if such transfer is made pursuant to SEC Rule 144, the appropriate restrictive legend set forth in Subsection 2.12(b), except that
such certificate instrument, or book entry shall not be notated with such restrictive legend if, in the opinion of counsel for such Holder and the Company, such legend is not required in order to establish compliance with any provisions of the
Securities Act. 
 2.13    Termination of Registration Rights. The right of any Holder to request
registration or inclusion of Registrable Securities in any registration pursuant to Subsections 2.1 or 2.2 shall terminate upon the earliest to occur of: 

  
 13 

 (a)    the closing of a Deemed Liquidation Event, as
such term is defined in the Company’s Certificate of Incorporation; 
 (b)    such time after
consummation of the IPO as Rule 144 or another similar exemption under the Securities Act is available for the sale of all of such Holder’s shares without limitation during a three-month period without registration; and 

(c)    the fifth (5th) anniversary of the IPO. 

 

	 	3.	 Information and Observer Rights. 

3.1    Delivery of Financial Statements. The Company shall deliver to each Major Investor,
provided that the Board has not reasonably determined that such Major Investor is a Competitor: 

(a)    as soon as practicable, but in any event within one hundred fifty (150) days after the end of
each fiscal year of the Company (i) a balance sheet as of the end of such year, (ii) statements of income and of cash flows for such year, (iii) a comparison between (x) the actual amounts as of and for such fiscal year and
(y) the comparable amounts for the prior year and as included in the Budget (as defined below) for such year, and (iv) a capitalization table as of the end of such year, with such financial statements referenced in (i) and (ii) to be
audited and certified by independent public accountants of at least regionally recognized standing selected by the Company; 

(b)    as soon as practicable, but in any event within forty-five
(45) days after the end of each quarter of each fiscal year of the Company, unaudited statements of income and cash flows for such fiscal quarter, and an unaudited balance sheet and a statement of stockholders’ equity as of the end of such
fiscal quarter, all prepared in accordance with GAAP (except that such financial statements may (i) be subject to normal year-end audit adjustments; and (ii) not contain all notes thereto that may be
required in accordance with GAAP); 
 (c)    as soon as practicable, but in any event within forty-five
(45) days after the end of each of the first three (3) quarters of each fiscal year of the Company, a statement showing the number of shares of each class and series of capital stock and securities convertible into or exercisable for
shares of capital stock outstanding at the end of the period, the Common Stock issuable upon conversion or exercise of any outstanding securities convertible or exercisable for Common Stock, all in sufficient detail as to permit the Major Investors
to calculate their respective percentage equity ownership in the Company; 
 (d)    as soon as
practicable, but in any event thirty (30) days before the end of each fiscal year, a budget and business plan for the next fiscal year (collectively, the “Budget”), approved by the Board (including approval of at least three
(3) of the Preferred Directors) and prepared on a quarterly basis, including balance sheets, income statements, and statements of cash flow for such months and, promptly after prepared, any other budgets or revised budgets prepared by the
Company; 
 (e)    with respect to the financial statements called for in Subsection 3.1(a) and
Subsection 3.1(b), an instrument executed by the chief financial officer and chief executive officer of the Company certifying that such financial statements were prepared in accordance with GAAP consistently applied with prior practice for
earlier periods (except as otherwise set forth in Subsection 3.1(b)) and fairly present the financial condition of the Company and its results of operation for the periods specified therein; and 

  
 14 

 (f)    such other information relating to the financial
condition, business, prospects, or corporate affairs of the Company as any Major Investor may from time to time reasonably request; provided, however, that the Company shall not be obligated under this Subsection 3.1 to provide
information (i) that the Company reasonably determines in good faith to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in a form acceptable to the Company); or (ii) the disclosure
of which would adversely affect the attorney-client privilege between the Company and its counsel. 
 If, for any period,
the Company has any subsidiary whose accounts are consolidated with those of the Company, then in respect of such period the financial statements delivered pursuant to the foregoing sections shall be the consolidated and consolidating financial
statements of the Company and all such consolidated subsidiaries.
 Notwithstanding anything else in this Subsection
3.1 to the contrary, the Company may cease providing the information set forth in this Subsection 3.1 during the period starting with the date sixty (60) days before the Company’s good-faith estimate of the date of filing of a
registration statement (the “Cessation Period”) if it reasonably concludes it must do so to comply with the SEC rules applicable to such registration statement and related offering; provided that the Company’s covenants
under this Subsection 3.1 shall be reinstated at such time as the Company is no longer actively employing its commercially reasonable efforts to cause such registration statement to become effective and that, upon such reinstatement of the
Company’s covenants under this Section 3.1, the Company shall promptly deliver to each Major Investor all information required by this Section 3.1 for the Cessation Period. 

3.2    Inspection. The Company shall permit each Major Investor (provided that the Board has
not reasonably determined that such Major Investor is a Competitor), at such Major Investor’s expense, to visit and inspect the Company’s properties; examine its books of account and records; and discuss the Company’s affairs,
finances, and accounts with its officers, during normal business hours of the Company as may be reasonably requested by the Major Investor; provided, however, that the Company shall not be obligated pursuant to this Subsection
3.2 to provide access to any information that it reasonably and in good faith considers to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in form acceptable to the Company) or the
disclosure of which would adversely affect the attorney-client privilege between the Company and its counsel. 

3.3    Observer Rights. 

(a)    As long as Qiming owns not less than twenty-five percent (25%) of the shares of the Preferred
Stock it has purchased as of the date hereof (or an equivalent amount of Common Stock issued upon conversion thereof), subject to appropriate adjustment in the event of any stock dividend, stock split, combination, or other similar recapitalization
with respect to the Preferred Stock, the Company shall invite a representative of Qiming to attend all meetings of the Board in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices, minutes,
consents, and other materials that it provides to its directors at the same time and in the same manner as provided to such directors; provided, however, that such representative shall agree to hold in confidence all information so
provided; and provided further, that the Company reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof if the Company reasonably determines, upon advice of counsel, that
access to such information or attendance at such meeting could adversely affect the attorney-client privilege between the Company and its counsel or result in disclosure of trade secrets or a conflict of interest. 

(b)    As long as Aventis owns not less than twenty-five percent (25%) of the shares of the Preferred
Stock it has purchased as of the date hereof (or an equivalent amount of Common 

  
 15 

 
Stock issued upon conversion thereof), subject to appropriate adjustment in the event of any stock dividend, stock split, combination, or other similar recapitalization with respect to the
Preferred Stock, the Company shall invite a representative of Aventis to attend all meetings of the Board in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices, minutes, consents, and other
materials that it provides to its directors at the same time and in the same manner as provided to such directors; provided, however, that such representative shall agree to hold in confidence all information so provided; and
provided further, that the Company reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof if the Company reasonably determines, upon advice of counsel, that access to such
information or attendance at such meeting could adversely affect the attorney-client privilege between the Company and its counsel or result in disclosure of trade secrets or a conflict of interest. 

(c)    As long as RA Capital owns not less than twenty-five percent (25%) of the shares of the Series B-1 Preferred Stock it has purchased under the Purchase Agreement (or an equivalent amount of Common Stock issued upon conversion thereof), subject to appropriate adjustment in the event of any stock dividend, stock
split, combination, or other similar recapitalization with respect to the Series B-1 Preferred Stock, the Company shall invite a representative of RA Capital to attend all meetings of the Board in a nonvoting
observer capacity and, in this respect, shall give such representative copies of all notices, minutes, consents, and other materials that it provides to its directors at the same time and in the same manner as provided to such directors;
provided, however, that such representative shall agree to hold in confidence all information so provided; and provided further, that the Company reserves the right to withhold any information and to exclude such
representative from any meeting or portion thereof if the Company reasonably determines, upon advice of counsel, that access to such information or attendance at such meeting could adversely affect the attorney-client privilege between the Company
and its counsel or result in disclosure of trade secrets or a conflict of interest. 

3.4    Termination of Information, Inspection and Observer Rights. The
covenants set forth in Subsection 3.1, Subsection 3.2 and Subsection 3.3 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first
becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Deemed Liquidation Event, as such term is defined in the Company’s Certificate of Incorporation, whichever event
occurs first. 
 3.5    Confidentiality. Each Investor agrees that such Investor will keep
confidential and will not disclose, divulge, or use for any purpose (other than to monitor its investment in the Company) any confidential information obtained from the Company pursuant to the terms of this Agreement (including notice of the
Company’s intention to file a registration statement), unless such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this Subsection 3.5 by such Investor), (b) is
or has been independently developed or conceived by the Investor without use of the Company’s confidential information, or (c) is or has been made known or disclosed to the Investor by a third party without a breach of any obligation of
confidentiality such third party may have to the Company; provided, that an Investor may disclose confidential information (i) on a confidential basis, to its (or its Affiliates’) attorneys, accountants, consultants, and other
professionals to the extent necessary to obtain their services in connection with monitoring, and making decisions with respect to, its investment in the Company; (ii) to any prospective purchaser of any Registrable Securities from such
Investor, if such prospective purchaser agrees to be bound by the provisions of this Subsection 3.5; (iii) to any existing or prospective Affiliate, partner, member, stockholder, or wholly owned subsidiary of such Investor in the
ordinary course of business, provided that such Investor informs such Person that such information is confidential and directs such Person to maintain the confidentiality of such information; or (iv) as requested by, or in such
Investor’s or its Affiliates’ ordinary course reporting to or examinations or similar processes by, any governmental authority, regulatory body or agency, stock exchange or self-regulatory organization

  
 16 

 
or (v) as may otherwise be required by law, regulation, rule, court order or subpoena (or other legal process), provided that, with respect to this clause (v), the Investor promptly
notifies the Company of such disclosure and takes reasonable steps to minimize the extent of any such required disclosure. 
  

	 	4.	 Rights to Future Stock Issuances. 

4.1    Right of First Offer. 

(a)    Subject to the terms and conditions of this Section 4.1 and applicable
securities laws, if the Company proposes to offer or sell any New Securities, the Company shall first offer such New Securities to each Major Investor. A Major Investor shall be entitled to apportion the right of first offer hereby granted to it in
such proportions as it deems appropriate, among (i) itself and (ii) its Affiliates; provided that each such Affiliate (x) is not a Competitor, unless such party’s purchase of New Securities is otherwise consented to
by the Board, and (y) agrees to enter into this Agreement and each of the Voting Agreement and Right of First Refusal and Co-Sale Agreement (as such terms are defined in the Purchase Agreement), as an
“Investor” under each such agreement (provided that any Competitor shall not be entitled to any rights as a Major Investor under Subsections 3.1, 3.2 and 4.1 hereof). 

(b)    The Company shall give notice (the “Offer Notice”) to each Major Investor,
stating (i) its bona fide intention to offer such New Securities, (ii) the number of such New Securities to be offered, and (iii) the price and terms, if any, upon which it proposes to offer such New Securities. In addition, UW shall
notify Bill and Melinda Gates Foundation of the Offer Notice as required, if at all, by any agreement between UW and BMGF and the Company shall discuss in good faith with BMGF the potential participation by BMGF in the sale and purchase of such New
Securities in such amounts as may be mutually acceptable to the Company and BMGF. 
 (c)    By
notification to the Company within twenty (20) days after the Offer Notice is given, each Major Investor may elect to purchase or otherwise acquire, at the price and on the terms specified in the Offer Notice, up to that portion of such New
Securities which equals the proportion that the Common Stock then held by such Major Investor (including all shares of Common Stock then issuable (directly or indirectly)) upon conversion and/or exercise, as applicable, of the Preferred Stock and
any other Derivative Securities then held by such Major Investor, bears to the total Common Stock of the Company then outstanding (assuming full conversion and/or exercise, as applicable, of all Preferred Stock and other Derivative Securities then
outstanding). At the expiration of such twenty (20) day period, the Company shall promptly notify each Major Investor that elects to purchase or acquire all the shares available to it (each, a “Fully Exercising Investor”) of
any other Major Investor’s failure to do likewise. During the ten (10) day period commencing after the Company has given such notice, each Fully Exercising Investor may, by giving notice to the Company, elect to purchase or acquire, in
addition to the number of shares specified above, up to that portion of the New Securities for which Major Investors were entitled to subscribe but that were not subscribed for by the Major Investors which is equal to the proportion that the Common
Stock issued and held, or issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Preferred Stock and any other Derivative Securities then held, by such Fully Exercising Investor bears to the Common Stock issued and
held, or issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of Preferred Stock and any other Derivative Securities then held, by all Fully Exercising Investors who wish to purchase such unsubscribed shares. The
closing of any sale pursuant to this Subsection 4.1(c) shall occur within the later of ninety (90) days of the date that the Offer Notice is given and the date of initial sale of New Securities pursuant to Subsection
4.1(c). 
 (d)    If all New Securities referred to in the Offer Notice are not elected to be
purchased or acquired as provided in Subsection 4.1(c), the Company may, during the ninety (90) day period following the expiration of the periods provided in Subsection 4.1(c), offer and sell the remaining

  
 17 

 
unsubscribed portion of such New Securities to any Person or Persons at a price not less than, and upon terms no more favorable to the offeree than, those specified in the Offer Notice. If the
Company does not enter into an agreement for the sale of the New Securities within such period, or if such agreement is not consummated within thirty (30) days of the execution thereof, the right provided hereunder shall be deemed to be revived
and such New Securities shall not be offered unless first reoffered to the Major Investors in accordance with this Subsection 4.1. 

(e)    The right of first offer in this Subsection 4.1 shall not be applicable to
(i) Exempted Securities (as defined in the Company’s Certificate of Incorporation); (ii) shares of Series B-1 Preferred Stock and Series B-2 Preferred Stock
issued pursuant to the Purchase Agreement; and (iii) shares of Common Stock issued in the IPO. 

4.2    Termination. The covenants set forth in Subsection 4.1 shall terminate and be of no
further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Deemed
Liquidation Event, as such term is defined in the Company’s Certificate of Incorporation,. 
  

	 	5.	 Additional Covenants. 

5.1    Insurance. The Company shall maintain insurance policies, from financially sound and
reputable insurers, Directors and Officers liability insurance in an amount and on terms and conditions satisfactory to the Board, including approval of at least three (3) of the Preferred Directors, until such time as the Board, including
approval of at least three (3) of the Preferred Directors determines that such insurance should be discontinued. Notwithstanding any other provision of this Section 5.1 to the contrary, for so long as a Preferred
Director is serving on the Board, the Company shall not cease to maintain a Directors and Officers liability insurance policy in at least the amount of the initial policy approved by the Board unless approved by at least three (3) Preferred
Directors (for so long as at least three (3) Preferred Directors are then serving, and otherwise by a majority of the seated Preferred Directors). 

5.2    Employee Agreements. The Company will cause (i) each Person now or hereafter employed
by it or by any subsidiary or engaged by the Company or any subsidiary as a consultant or independent contractor with access to confidential information and/or trade secrets to enter into a non-disclosure and
proprietary information and inventions agreement; and (ii) each Person now or hereafter employed by it to enter into a non-competition (covering the period of employment) and non-solicitation agreement (covering a one-year period following employment termination). In addition, the Company shall not amend, modify, terminate, waive, or otherwise
alter, in whole or in part, any of the above-referenced agreements (or the form thereof to be used by the Company with employees after the date hereof) or any restricted stock agreement between the Company and any employee, without the consent of
the Board (or any committee thereof), including approval of at least three (3) of the Preferred Directors. Notwithstanding the foregoing, any approval by a duly elected committee of the Board shall only require the approval of at least two
(2) of the Preferred Directors. 
 5.3    Employee Stock. Unless otherwise approved
by the Board (or any committee thereof), including approval of at least three (3) of the Preferred Directors, all future employees and consultants of the Company who purchase, receive options to purchase, or receive awards of shares of the
Company’s capital stock after the date hereof shall be required to execute restricted stock or option agreements, as applicable, providing for (i) vesting of shares over a four (4) year period, with the first twenty-five percent (25%)
of such shares vesting following twelve (12) months of continued employment or service, and the remaining shares vesting in equal monthly installments over the following thirty-six (36) months, and
(ii) a market stand-off provision substantially similar to that in Subsection 2.11. Without the 

  
 18 

 
prior approval by the Board (or any committee thereof), including approval of at least three (3) of the Preferred Directors, the Company shall not amend, modify, terminate, waive or
otherwise alter, in whole or in part, any stock purchase, stock restriction or option agreement with any employee or service provider if such amendment would cause it to be inconsistent with this Subsection 5.3. In addition, unless otherwise
approved by the Board (or any committee thereof), including approval of at least three (3) of the Preferred Directors, the Company shall retain (and not waive) a “right of first refusal” on employee transfers until the
Company’s IPO and shall have the right to repurchase unvested shares at cost upon termination of employment of a holder of restricted stock. Notwithstanding the foregoing, any approval by a duly elected committee of the Board shall only require
the approval of at least two (2) of the Preferred Directors. 
 5.4    Qualified Small Business
Stock.    The Company shall use commercially reasonable efforts to cause the shares of Series A-1 Preferred Stock and Series A-2 Preferred Stock,
as well as any shares into which such shares are converted, within the meaning of Section 1202(f) of the Internal Revenue Code (the “Code”), to constitute “qualified small business stock” as defined in
Section 1202(c) of the Code (collectively, the “Qualified Shares”); provided, however, that such requirement shall not be applicable if the Board determines, in its good-faith business judgment, that such qualification is
inconsistent with the best interests of the Company. The Company shall submit to its stockholders (including the Investors) and to the Internal Revenue Service any reports that may be required under Section 1202(d)(1)(C) of the Code and the
regulations promulgated thereunder. In addition, within twenty (20) business days after any Investor’s written request therefor, the Company shall, at its option, either (i) deliver to such Investor a written statement indicating
whether (and what portion of) such Investor’s Qualified Shares constitute “qualified small business stock” as defined in Section 1202(c) of the Code or (ii) deliver to such Investor such factual information in the
Company’s possession as is reasonably necessary to enable such Investor to determine whether (and what portion of) such Qualified Shares constitute “qualified small business stock” as defined in Section 1202(c) of the Code. 

5.5    Matters Requiring Investor Director Approval. So long as the holders of Preferred Stock are
entitled to elect at least one (1) or more Preferred Directors, the Company hereby covenants and agrees with each of the Investors that it shall not, nor shall it permit any Affiliate of the Company to, without approval of the Board (or any
committee thereof), which approval must include the affirmative vote of at least three (3) of the Preferred Directors, provided, that, any approval by a duly elected committee of the Board shall only require the approval of at least two
(2) of the Preferred Directors: 
 (a)    make, or permit any subsidiary to make, any loan or
advance to, or own any stock or other securities of, any subsidiary or other corporation, partnership, or other entity unless it is wholly owned by the Company; 

(b)    make, or permit any subsidiary to make, any loan or advance to any Person, including, without
limitation, any employee or director of the Company or any subsidiary, except advances and similar expenditures in the ordinary course of business or under the terms of an employee stock or option plan approved by the Board; 

(c)    guarantee, directly or indirectly, or permit any subsidiary to guarantee, directly or indirectly,
any indebtedness, except for trade accounts of the Company or any subsidiary arising in the ordinary course of business; 

(d)    make any investment inconsistent with any investment policy approved by the Board; 

  
 19 

 (e)    incur any aggregate indebtedness or liability or
undertake any transaction or expenditure in excess of $500,000 that is not already included in a budget approved by the Board, other than trade credit incurred in the ordinary course of business; 

(f)    otherwise enter into or be a party to any transaction with any director, officer or employee of
the Company or any “associate” (as defined in Rule 12b-2 promulgated under the Exchange Act) of any such Person, including without limitation any “management bonus” or similar plan
providing payments to employees in connection with a Deemed Liquidation Event, except for transactions contemplated by this Agreement and the Purchase Agreement, except for expense reimbursement in the ordinary course of business and for other
transactions resulting in payments to or by the Company in an amount less than $10,000; 
 (g)    hire,
terminate, or change the compensation of the executive officers, including approving any option grants or stock awards to the executive officers; 

(h)    change the principal business of the Company, enter new lines of business, or exit the current
lines of business; 
 (i)    sell, assign, license, pledge or encumber material technology or
intellectual property, other than licenses granted in the ordinary course of business; 
 (j)    hire,
terminate or amend the terms of engagement of any financial advisors, investment bankers or underwriters (other than financial advisors assisting with cash management and similar treasury-related matters only); 

(k)    amend the accounting policies previously adopted or change the financial year of the Company; 

(l)    appoint or change the Company’s auditors; 

(m)    enter into an agreement with any senior level officer or any employee providing for total annual
compensation greater than or equal to $300,000; 
 (n)    acquire a substantial portion of the assets
or business of another company or entity (whether by merger, share purchase or asset acquisition) or any other acquisition of material assets; 

(o)    amend the Company’s 2017 Equity Incentive Plan or enter into a similar equity incentive plan;

 (p)    adopt or amend the Budget; or 

(q)    enter into any corporate strategic relationship involving the payment, contribution or assignment
by the Company or to the Company of money or assets greater than $500,000. 
 5.6    Board
Matters. Unless otherwise determined by the vote of a majority of the directors then in office, the Board shall meet at least quarterly in accordance with an agreed-upon schedule. The Company shall reimburse the nonemployee directors for all
reasonable out-of-pocket travel expenses incurred (consistent with the Company’s travel policy) in connection with attending meetings of the Board (or any committee
of the Board). 

  
 20 

 5.7    Successor Indemnification. If the Company
or any of its successors or assignees consolidates with or merges into any other Person and is not the continuing or surviving corporation or entity of such consolidation or merger, then to the extent necessary, proper provision shall be made so
that the successors and assignees of the Company assume the obligations of the Company with respect to indemnification of members of the Board as in effect immediately before such transaction, whether such obligations are contained in the
Company’s Bylaws, its Certificate of Incorporation, or elsewhere, as the case may be. 

5.8    Indemnification Matters. The Company hereby acknowledges that one or more of the Preferred
Directors may have certain rights to indemnification, advancement of expenses and/or insurance provided by one or more of the Investors and certain of their Affiliates (collectively, the “Investor Indemnitors”). The Company
hereby agrees (a) that it is the indemnitor of first resort (i.e., its obligations to any such Preferred Director are primary and any obligation of the Investor Indemnitors to advance expenses or to provide indemnification for the same
expenses or liabilities incurred by such Preferred Director are secondary), (b) that it shall be required to advance the full amount of expenses incurred by such Preferred Director and shall be liable for the full amount of all expenses, judgments,
penalties, fines and amounts paid in settlement by or on behalf of any such Preferred Director to the extent legally permitted and as required by the Company’s Certificate of Incorporation or Bylaws of the Company (or any agreement between the
Company and such Preferred Director), without regard to any rights such Preferred Director may have against the Investor Indemnitors, and, (c) that it irrevocably waives, relinquishes and releases the Investor Indemnitors from any and all
claims against the Investor Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the Investor Indemnitors on behalf of any such Preferred
Director with respect to any claim for which such Preferred Director has sought indemnification from the Company shall affect the foregoing and the Investor Indemnitors shall have a right of contribution and/or be subrogated to the extent of such
advancement or payment to all of the rights of recovery of such Preferred Director against the Company. The Preferred Directors and the Investor Indemnitors are intended third-party beneficiaries of this
Subsection 5.8 and shall have the right, power and authority to enforce the provisions of this Subsection 5.8 as though they were a party to this Agreement. 

5.9    Right to Conduct Activities. The Company hereby agrees and acknowledges that each
Major Investor is a professional investment organization, and as such reviews the business plans and related proprietary information of many enterprises, some of which may compete directly or indirectly with the Company’s business (as currently
conducted or as currently proposed to be conducted). The Company hereby agrees that, to the extent permitted under applicable law, each Major Investor shall not be liable to the Company for any claim arising out of, or based upon, (i) the
investment by a Major Investor in any entity competitive with the Company, or (ii) actions taken by any partner, officer, employee or other representative of such Major Investor to assist any such competitive company, whether or not such action
was taken as a member of the board of directors of such competitive company or otherwise, and whether or not such action has a detrimental effect on the Company; provided, however, that the foregoing shall not relieve (x) any of the Investors
from liability associated with the unauthorized disclosure of the Company’s confidential information obtained pursuant to this Agreement, or (y) any director or officer of the Company from any liability associated with his or her fiduciary
duties to the Company. 
 5.10    Critical Technology Matters. If to the Company’s knowledge
(i) any pre-existing products or services provided by the Company are re-categorized by the U.S. government as a critical technology within the meaning of the DPA,
or would reasonably be considered to constitute the design, fabrication, development, testing, production or manufacture of a critical technology after a re-categorization of selected technologies by the U.S.
government, or (ii) after execution of the Purchase Agreement, the Company engages in any activity that could reasonably be considered to constitute the design, fabrication, development, testing, production or manufacture of a critical
technology within the 

  
 21 

 
meaning of the DPA: the Company shall promptly notify the Major Investors of (i) such change in the categorization of its products, services, or technology or (ii) its engagement in the
design, fabrication, development, testing, production or manufacture of a critical technology. 

5.11    Tax Matters. 

(a)    The Company and each Investor agrees that it is their intention that (a) the Series B-1 Preferred Stock shall be treated as stock that is not “preferred stock” within the meaning of Section 305 of the Internal Revenue Code of 1986, as amended (the “Code”) and the
Treasury Regulations issued thereunder, and (b) the Investors shall not be required to include in income as a dividend for U.S. federal income tax purposes any income or gain in respect of the Series B-1
Preferred Stock on account of the accrual of dividends thereon (including any deemed dividends or as a result of any discount) unless and until such dividends are declared and paid in cash. The Company and each Investor agrees agree to take no
positions or actions inconsistent with such treatment (including on any Internal Revenue Service Form 1099), unless otherwise required by a change in applicable law after the Closing, as defined in the Purchase Agreement. 

(b)    The Company shall use commercially reasonable efforts to cooperate with each Investor to structure
any redemption of the Series B-1 Preferred Stock permitted under the terms of the Company’s Certificate of Incorporation to be treated as a payment in exchange for stock pursuant to Section 302 of
the Code. 
 Promptly following (and in any event within ten (10) days after receipt of) written request by an
Investor, the Company shall provide such Investor with a written statement informing such Investor whether such Investor’s interest in the Company constitutes a United States real property interest. The Company’s determination shall comply
with the requirements of Treasury Regulation Section 1.897-2(h)(1) or any successor regulation, and the Company shall provide timely notice to the Internal Revenue Service, in accordance with and to the
extent required by Treasury Regulation Section 1.897-2(h)(2) or any successor regulation, that such statement has been made. The Company’s obligation to furnish such written statement shall continue
notwithstanding the fact that a class of the Company’s stock may be regularly traded on an established securities market or the fact that there is no Preferred Stock then outstanding. 

5.12    Termination of Covenants. The covenants set forth in this Section 5, except for
Subsections 5.8 and 5.9, shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of
Section 12(g) or 15(d) of the Exchange Act or (iii) upon a Deemed Liquidation Event, as such term is defined in the Company’s Certificate of Incorporation. 
  

	 	6.	 Miscellaneous. 

6.1    Successors and Assigns. The rights under this Agreement may be assigned (but only
with all related obligations) by a Holder to a transferee of Registrable Securities that (i) is an Affiliate of a Holder; (ii) is a Holder’s Immediate Family Member or trust for the benefit of an individual Holder or one or more of
such Holder’s Immediate Family Members; or (iii) after such transfer, together with its Affiliates, is a Major Investor; provided, however, that (x) the Company is, within a reasonable time after such transfer, furnished
with written notice of the name and address of such transferee and the Registrable Securities with respect to which such rights are being transferred; and (y) such transferee agrees in a written instrument delivered to the Company to be bound
by and subject to the terms and conditions of this Agreement, including the provisions of Subsection 2.11. For the purposes of determining the number of shares of Registrable Securities held by a transferee, the holdings of a transferee
(1) that is an Affiliate or stockholder of a Holder; (2) who is a Holder’s Immediate Family Member; or (3) that is a trust for the 

  
 22 

 
benefit of an individual Holder or such Holder’s Immediate Family Member shall be aggregated together and with those of the transferring Holder; provided further that all
transferees who would not qualify individually for assignment of rights shall have a single attorney-in-fact for the purpose of exercising any rights, receiving notices,
or taking any action under this Agreement. The terms and conditions of this Agreement inure to the benefit of and are binding upon the respective successors and permitted assignees of the parties. Nothing in this Agreement, express or implied, is
intended to confer upon any party other than the parties hereto or their respective successors and permitted assignees any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided herein. 

6.2    Governing Law. This Agreement shall be governed by the internal law of the State of
Delaware, without regard to conflict of law principles that would result in the application of any law other than the law of the State of Delaware. 

6.3    Counterparts. This Agreement may be executed in two (2) or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of
2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. 

6.4    Titles and Subtitles. The titles and subtitles used in this Agreement are for convenience
only and are not to be considered in construing or interpreting this Agreement. 

6.5    Notices. All notices and other communications given or made pursuant to this Agreement shall
be in writing and shall be deemed effectively given upon the earlier of actual receipt or (i) personal delivery to the party to be notified; (ii) when sent, if sent by electronic mail during the recipient’s normal business hours, and
if not sent during normal business hours, then on the recipient’s next business day; (iii) for addresses in the United States of America, five (5) days after having been sent by registered or certified mail, return receipt requested,
postage prepaid; or (iv) one (1) business day after the business day of deposit with a nationally recognized overnight courier (for addresses in the United States of America) or three (3) business days after deposit with an internationally
recognized overnight courier (for addresses outside the United States of America), in each case freight prepaid, specifying next business day (or, for addresses outside the United States of America, next available business day) delivery, with
written verification of receipt. All communications shall be sent to the respective parties at their addresses as set forth on Schedule A or Schedule B hereto, or to the principal office of the Company and to the attention of the Chief
Executive Officer, in the case of the Company or to such email address or physical address as subsequently modified by written notice given in accordance with this Subsection 6.5. If notice is given to the Company, a copy shall also be sent
to Latham & Watkins LLP, 12670 High Bluff Drive, San Diego, CA 92130, Attn: Cheston J. Larson; and if notice is given to the Investors, a copy shall also be sent to DLA Piper LLP (US), 701 Fifth Avenue, Suite 6900, Seattle, WA 98104, Attn:
Steven R. Yentzer & Kerra J. Melvin and Wilmer Cutler Pickering Hale and Dorr LLP, 60 State Street, Boston, MA 02109, Attn: Jason Kropp. 

6.6    Amendments and Waivers. Any term of this Agreement may be amended or terminated and the
observance of any term of this Agreement may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent of the Company and the Requisite Holders (as such term is defined in the
Company’s Certificate of Incorporation); provided that the Company may in its sole discretion waive compliance with Subsection 2.12(c) (and the Company’s failure to object promptly in writing after notification of a proposed
assignment allegedly in violation of Subsection 2.12(c) shall be deemed to be a waiver); and provided further that any provision hereof may be 

  
 23 

 
waived by any waiving party on such party’s own behalf, without the consent of any other party. Notwithstanding the foregoing: 

(a)    this Agreement may not be amended or terminated and the observance of any term hereof may not be
waived with respect to any Investor without the written consent of such Investor, unless such amendment, termination, or waiver (i) does not increase such Investor’s liabilities or obligations and (ii) applies to all Investors in the
same fashion; provided, that (x) a waiver of the provisions of Section 4 with respect to a particular transaction shall be deemed to apply to all Investors in the same fashion if such waiver does so by its
terms, notwithstanding the fact that certain Investors may nonetheless, by agreement with the Company, purchase securities in such transaction, (y) Subsections 3.1, 3.2 and 4, and any other section of this Agreement
applicable to the Major Investors (including this clause (y) of this Subsection 6.6) may not be amended, modified, terminated or waived without the written consent of the Requisite Holders, and (z) the definition of
“Competitor”, Subsections 3.3 and 5.9 and this clause (z) of this Subsection 6.6 may not be amended, modified, terminated or waived without the written consent of Qiming, Aventis, Adams Street, NanoDimension and
RA Capital. 
 (b)    Schedule A and Schedule B hereto may be amended by the Company from
time to time to add transferees of any Registrable Securities in compliance with the terms of this Agreement without the consent of the other parties; and Schedule A and Schedule B hereto may also be amended by the Company after the
date of this Agreement without the consent of the other parties to add information regarding any additional Investor who becomes a party to this Agreement in accordance with Subsection 6.9. The Company shall give prompt notice of any
amendment or termination hereof or waiver hereunder to any party hereto that did not consent in writing to such amendment, termination, or waiver. Any amendment, termination, or waiver effected in accordance with this Subsection 6.6 shall be
binding on all parties hereto, regardless of whether any such party has consented thereto. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a
further or continuing waiver of any such term, condition, or provision. 
 6.7    Severability.
In case any one or more of the provisions contained in this Agreement is for any reason held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this
Agreement, and such invalid, illegal, or unenforceable provision shall be reformed and construed so that it will be valid, legal, and enforceable to the maximum extent permitted by law. 

6.8    Aggregation of Stock. All shares of Registrable Securities, or of Preferred Stock, held or
acquired by Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such rights as among themselves in any manner they deem appropriate.

 6.9    Additional Investors. Notwithstanding anything to the contrary contained herein, if the
Company issues additional shares of Preferred Stock after the date hereof, any purchaser of such shares of Preferred Stock may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement,
and thereafter shall be deemed an “Investor” for all purposes hereunder. No action or consent by the Investors shall be required for such joinder to this Agreement by such additional Investor, so long as such additional Investor has agreed
in writing to be bound by all of the obligations as an “Investor” hereunder. 

6.10    Entire Agreement; Effect on Prior Agreement. This Agreement (including any Schedules
and Exhibits hereto), the Certificate of Incorporation and the other Transaction Agreements (as defined in the Purchase Agreement) constitute the full and entire understanding and agreement among the parties with respect to the subject matter
hereof, and any other written or oral agreement relating to the 

  
 24 

 
subject matter hereof existing between the parties is expressly canceled. Upon the effectiveness of this Agreement, the Prior Agreement shall be deemed amended and restated and superseded and
replaced in its entirety by this Agreement and shall be of no further force or effect. 

6.11    Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to
the jurisdiction of the state courts of Delaware and to the jurisdiction of the United States District Court for the District of Delaware for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement,
(b) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the state courts of Delaware or the United States District Court for the District of Delaware, and (c) hereby
waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, 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 the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such
court. 
 6.12    Waiver of Jury Trial: EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY
TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE
ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING
NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER
WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 

6.13    Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing
to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of such nonbreaching or nondefaulting party, nor shall it be construed to be a waiver of or
acquiescence to any such breach or default, or to any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. All
remedies, whether under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 
 [Remainder
of Page Intentionally Left Blank] 

  
 25 

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

			
	ICOSAVAX, INC.
		
	 By:
	 	 /s/ Adam K.
Simpson

 
			
	 Name:
	 	 Adam K. Simpson

	 Title:
	 	 President and Chief Executive Officer

			
		
	 Address:    
	 	 1616 Eastlake Ave. E

		 	 Suite 208

		 	 Seattle, WA 98102

  

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

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

			
	INVESTOR:
	
	QIMING U.S. HEALTHCARE FUND II, L.P.
	
	 By: Qiming U.S. Healthcare GP II, LLC,

its General Partner

		
	 By:
	 	 /s/ Mark McDade

			
	 Name:
	 	 Mark McDade

	 Title:
	 	 Managing Partner

  

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

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

			
	INVESTOR:
	
	JOE AND CLARA TSAI FOUNDATION LIMITED
	
	 By: Primary Management Limited,

	 As Sole Director

		
	 By:
	 	 /s/ Authorized Signatory

  

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

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

			
	INVESTOR:
	
	JEFFREY AND LIESL WILKE REVOCABLE TRUST
		
	 By:
	 	 /s/ Jeffrey A.
Wilke

 
			
	 Name:
	 	 Jeffrey A. Wilke

	 Title:
	 	 Trustee

  

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

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

	
	INVESTOR:
	
	 /s/ Siddharth B. Shenai

	 Siddharth B. Shenai

  

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

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

	
	INVESTOR:
	
	 /s/ Ingrid Pultz

	 Ingrid Pultz

	
	 /s/ Scott Pultz

	 Scott Pultz

  

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

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

			
	INVESTOR:
	
	PAGSGROUP, LLC
		
	 By:
	 	 /s/ Judy Pagliuca

			
	 Name:
	 	 Judy Pagliuca

	 Title:
	 	 Manager

  

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

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

	
	INVESTOR:
	
	 /s/ Brian Hongdi Gu

	 Brian Hongdi Gu

  

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

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

			
	INVESTOR:
	
	PNC INVESTMENTS, LLC
		
	 By:
	 	 /s/ Paul Clark

			
	 Name:
	 	 Paul Clark

	 Title:
	 	 Manager

  

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

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

	
	INVESTOR:
	
	 /s/ Colin Walsh

	 Colin Walsh

  

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

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

	
	INVESTOR:
	
	 /s/ Lansing Stewart

	 Lansing Stewart

  

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

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

			
	INVESTOR:
	
	STANLEY R. HOLTZMAN
		
	 By:
	 	 /s/ Douglas A.
Holtzman

 
			
	 Name:
	 	 Douglas A. Holtzman

	 Title:
	 	 Representative

  

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

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

	
	INVESTOR:
	
	 /s/ Cheston J. Larson

	 Cheston J. Larson

  

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

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

			
	INVESTOR:
	
	JBA INVESTORS, LLC
		
	 By:
	 	 /s/ Jeremy
Anderson

 
			
	 Name:
	 	 Jeremy Anderson

	 Title:
	 	 Manager

  

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

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

			
	INVESTOR:
	
	SAHSEN VENTURES, LLC
		
	 By:
	 	 /s/ Bryan White

			
	 Name:
	 	 Bryan White

	 Title:
	 	 Managing Member

  

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

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

			
	INVESTOR:
	
	ADAMS STREET 2016 DIRECT VENTURE/GROWTH FUND LP
	
	By: ASP 2016 Direct Management LP its General Partner
	By: ASP 2016 Direct Management LLC its General Partner
	By: Adams Street Partners, LLC its Managing Member

 
			
		
	 By:
	 	 /s/ Elisha P. Gould
III

 
			
	 Name:
	 	 Elisha P. Gould III

	 Title:
	 	 Partner

 
			
	
	ADAMS STREET 2017 DIRECT VENTURE/GROWTH FUND LP
	
	By: ASP 2017 Direct Management LP its General Partner
	By: ASP 2017 Direct Management LLC its General Partner
	By: Adams Street Partners, LLC its Managing Member

 
			
		
	 By:
	 	 /s/ Elisha P. Gould
III

 
			
	 Name:
	 	 Elisha P. Gould III

	 Title:
	 	 Partner

 
			
	
	ADAMS STREET 2018 DIRECT VENTURE/GROWTH FUND LP
	
	By: ASP 2018 Direct Management LP its General Partner
	By: ASP 2018 Direct Management LLC its General Partner
	By: Adams Street Partners, LLC its Managing Member

 
			
		
	 By:
	 	 /s/ Elisha P. Gould
III

 
			
	 Name:
	 	 Elisha P. Gould III

	 Title:
	 	 Partner

  

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

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

			
	INVESTOR:
	
	ADAMS STREET 2019 DIRECT GROWTH EQUITY FUND LP
	
	By: ASP 2019 Direct Management LP its General Partner
	By: ASP 2019 Direct Management LLC its General Partner
	By: Adams Street Partners, LLC its Managing Member

 
			
		
	 By:
	 	 /s/ Elisha P. Gould
III

 
			
	 Name:
	 	 Elisha P. Gould III

	 Title:
	 	 Partner

 
			
	
	ADAMS STREET VENTURE/GROWTH FUND VI LP
	
	By: ASP VG Management VI LP its General Partner
	By: ASP VG Management VI LLC its General Partner
	By: Adams Street Partners, LLC its Managing Member

 
			
		
	 By:
	 	 /s/ Elisha P. Gould
III

 
			
	 Name:
	 	 Elisha P. Gould III

	 Title:
	 	 Partner

 
			
	
	ADAMS STREET GROWTH EQUITY FUND VII LP
	
	By: ASP VG Management VII LP, its General Partner
	By: ASP VG Management VII LLC, its General Partner
	By: Adams Street Partners, LLC, its Managing Member

 
			
		
	 By:
	 	 /s/ Elisha P. Gould
III

 
			
	 Name:
	 	 Elisha P. Gould III

	 Title:
	 	 Partner

  

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

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

			
	INVESTOR:
	
	NANODIMENSION III, L.P.
	
	 By: NanoDimension III Management Limited, its General Partner

		
	 By:
	 	 /s/ Jonathan
Nicholson

 
			
	 Name:
	 	 Jonathan Nicholson

	 Title:
	 	 Director

  

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

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

			
	AVENTIS, INC.
		
	 By:
	 	 /s/ Jason Hafler

			
	 Name:
	 	 Jason P. Hafler

	 Title:
	 	 Managing Director, Sanofi Ventures

  

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

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

			
	INVESTOR:
	
	RA CAPITAL HEALTHCARE FUND, L.P.
	
	 By: RA Capital Healthcare Fund GP, LLC

	 Its: General Partner

		
	 By:
	 	 /s/ Peter
Kolchinsky

 
			
	 Name:
	 	 Peter Kolchinsky

	 Title:
	 	 Manager

  

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

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

			
	INVESTOR:
	
	RA CAPITAL NEXUS FUND II, L.P.
	
	 By: RA Capital Nexus Fund II GP, LLC

	 Its: General Partner

		
	 By:
	 	 /s/ Peter
Kolchinksy

 
			
	 Name:
	 	 Peter Kolchinsky

	 Title:
	 	 Manager

  

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

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

			
	INVESTOR:
	
	GOOD VENTURES FOUNDATION LLC
		
	 By:
	 	 /s/ Rakesh Mehta

			
	 Name:
	 	 Rakesh Mehta

	 Title:
	 	 Authorized Signatory

  

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

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

			
	INVESTOR:
	
	PERCEPTIVE LIFE SCIENCES MASTER FUND, LTD.
	
	 By: Perceptive Advisors, LLC

		
	 By:
	 	 /s/ James H.
Mannix

 
			
	 Name:
	 	 James H. Mannix

	 Title:
	 	 Chief Operating Officer

  

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

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

			
	INVESTOR:
	
	JANUS HENDERSON GLOBAL LIFE SCIENCES FUND
	
	 By: Janus Capital Management LLC, its investment advisor

		
	 By:
	 	 /s/ Andrew Acker

			
	 Name:
	 	 Andrew Acker

	 Title:
	 	 Authorized Signatory

  

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

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

			
	INVESTOR:
	
	JANUS HENDERSON BIOTECH INNOVATION MASTER FUND LIMITED
	
	 By: Janus Capital Management LLC, its investment advisor

		
	 By:
	 	 /s/ Andrew Acker

			
	 Name:
	 	 Andrew Acker

	 Title:
	 	 Authorized Signatory

  

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

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

			
	INVESTOR:
	
	JANUS HENDERSON CAPITAL FUNDS PLC ON BEHALF OF ITS SERIES JANUS HENDERSON GLOBAL LIFE SCIENCES FUND
	
	 By: Janus Capital Management LLC, its investment advisor

		
	 By:
	 	 /s/ Andrew Acker

			
	 Name:
	 	 Andrew Acker

	 Title:
	 	 Authorized Signatory

  

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

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

			
	INVESTOR:
	
	JANUS HENDERSON HORIZON FUND - BIOTECHNOLOGY FUND
	
	 By: Janus Capital Management LLC, its investment advisor

		
	 By:
	 	 /s/ Andrew Acker

			
	 Name:
	 	 Andrew Acker

	 Title:
	 	 Authorized Signatory

  

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

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

			
	INVESTOR:
	
	VIKING GLOBAL OPPORTUNITIES ILLIQUID INVESTMENTS SUB-MASTER LP
	
	By: Viking Global Opportunities Portfolio GP, LLC, its General Partner
		
	 By:
	 	 /s/ Katerina Novak

			
	 Name:
	 	 Katerina Novak

	 Title:
	 	 Authorized Signatory

  

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

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

			
	INVESTOR:
	
	CORMORANT PRIVATE HEALTHCARE FUND III, LP
	
	 By: Cormorant Private Healthcare GP, LLC

		
	 By:
	 	 /s/ Bihua Chen

			
	 Name:
	 	 Bihua Chen

	 Title:
	 	 Managing Member

  

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

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

			
	INVESTOR:
	
	CORMORANT GLOBAL HEALTHCARE MASTER FUND, LP
	
	 By: Cormorant Global Healthcare GP, LLC

		
	 By:
	 	 /s/ Bihua Chen

			
	 Name:
	 	 Bihua Chen

	 Title:
	 	 Managing Member

  

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

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

			
	INVESTOR:
	
	CRMA SPV, LP
	
	 By: Cormorant Asset Management, LP, its
attorney-in-fact

		
	 By:
	 	 /s/ Bihua Chen

			
	 Name:
	 	 Bihua Chen

	 Title:
	 	 Managing Member

  

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

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

			
	INVESTOR:
	
	OMEGA FUND VI, L.P.
	
	 By: Omega Fund VI GP, L.P., its General Partner

	
	 By: Omega Fund VI GP Manager, Ltd., its General Partner

		
	 By:
	 	 /s/ Otello
Stampacchia

 
			
	 Name:
	 	 Otello Stampacchia

	 Title:
	 	 Director

  

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

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

			
	INVESTOR:
	
	CITADEL MULTI-STRATEGY EQUITIES MASTER FUND LTD
	
	 By: Citadel Advisors LLC, its portfolio manager

		
	 By:
	 	 /s/ Shellane
Mulcahy

 
			
	 Name:
	 	 Shellane Mulcahy

	 Title:
	 	 Authorized Signatory

  

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

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

	
	KEY HOLDER:
	
	 /s/ Neil P. King

	 Neil P. King, Ph.D.

  

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

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

			
	KEY HOLDER:
	
	LESLIE D. YAMADA 2016 TRUST
		
	 By:
	 	 /s/ Tadataka
Yamada

 
			
	 Name:
	 	 Tadataka (Tachi) Yamada

	 Title: Trustee

  

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

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

			
	KEY HOLDER:
	
	THE ADAM K. AND MARIA M. SIMPSON FAMILY TRUST DTD. 04/27/07
		
	 By:
	 	 /s/ Adam K.
Simpson

 
			
	 Name:
	 	 Adam K. Simpson

	 Title: Trustee

  

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

 SCHEDULE A 

INVESTORS 
  

	
	 Name 

	
	 Sahsen Ventures, LLC

	
	 Joe and Clara Tsai Foundation Limited

	
	 Jeffrey and Liesl Wilke Revocable Trust

	
	 Siddharth B. Shenai

	
	 Scott and Ingrid Pultz

	
	 PagsGroup, LLC

	
	 Brian Hongdi Gu

	
	 PNC Investments, LLC

	
	 Stanley R. Holtzman

	
	 Cheston J. Larson

	
	 JBA Investors, LLC

	
	 Qiming U.S. Healthcare Fund II, L.P.

	
	 Adams Street Growth Equity Fund VII LP

	
	 Adams Street Venture/Growth Fund VI LP

	
	 Adams Street 2019 Direct Growth Equity Fund LP

	
	 Adams Street 2018 Direct Venture/Growth Fund LP

	
	 Adams Street 2017 Direct Venture/Growth Fund LP

	
	 Adams Street 2016 Direct Venture/Growth Fund LP

	
	 NanoDimension III, L.P.

	
	 Aventis, Inc.

	
	 Lansing Stewart

	
	 Colin Walsh

	
	 Good Ventures Foundation LLC

	
	 RA Capital Healthcare Fund, L.P.

	
	 RA Capital NEXUS Fund II, L.P.

	
	 JANUS HENDERSON GLOBAL LIFE

SCIENCES FUND

	
	 JANUS HENDERSON BIOTECH

INNOVATION MASTER FUND

LIMITED

	
	 JANUS HENDERSON CAPITAL FUNDS

PLC ON BEHALF OF ITS SERIES

JANUS HENDERSON GLOBAL LIFE

SCIENCES FUND

	
	 JANUS HENDERSON HORIZON FUND

- BIOTECHNOLOGY FUND

	
	 VIKING GLOBAL OPPORTUNITIES

ILLIQUID INVESTMENTS

SUB-MASTER LP

	
	 Perceptive Life Sciences Master Fund, Ltd.

	
	 Cormorant Private Healthcare Fund III, LP

	
	 Cormorant Global Healthcare Master Fund, LP

	
	 CRMA SPV, LP

	
	
	 OMEGA FUND VI, L.P.

	
	 Citadel Multi-Strategy Equities Master

Fund Ltd.

	
	 Neil P. King, Ph.D.

	
	 Leslie D. Yamada 2016 Trust

	
	 The Adam K. and Maria M. Simpson Family Trust dtd. 04/27/07EX-10.1

 Exhibit 10.1 

ICOSAVAX, INC. 
 2017
EQUITY INCENTIVE PLAN 
 1.    Purpose. 

The purpose of the Plan is to advance the interests of the Company’s stockholders by enhancing the Company’s ability
to attract, retain and motivate persons who make (or are expected to make) important contributions to the Company by providing such persons with equity ownership opportunities and thereby better aligning the interests of such persons with those of
the Company’s stockholders. Capitalized terms used in the Plan are defined in Section 11 below. 

2.    Eligibility.  

Service Providers are eligible to be granted Awards under the Plan, subject to the limitations described herein. 

3.    Administration and Delegation. 

(a)    Administration.    The Plan will be administered by the Administrator.
The Administrator shall have authority to determine which Service Providers will receive Awards, to grant Awards and to set all terms and conditions of Awards (including, but not limited to, vesting, exercise and forfeiture provisions). In addition,
the Administrator shall have the authority to take all actions and make all determinations contemplated by the Plan and to adopt, amend and repeal such administrative rules, guidelines and practices relating to the Plan as it shall deem advisable.
The Administrator may correct any defect or ambiguity, supply any omission or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem necessary or appropriate to carry the Plan and any Awards into effect,
as determined by the Administrator. The Administrator shall make all determinations under the Plan in the Administrator’s sole discretion and all such determinations shall be final and binding on all persons having or claiming any interest in
the Plan or in any Award. 
 (b)    Appointment of Committees.    To the
extent permitted by Applicable Laws, the Board may delegate any or all of its powers under the Plan to one or more Committees. The Board may abolish any Committee at any time and re-vest in itself any
previously delegated authority. 
 4.    Stock Available for Awards. 

(a)    Number of Shares. Subject to adjustment under Section 8 hereof, Awards
may be made under the Plan covering up to 3,104,064 shares of Common Stock. If any Award expires or lapses or is terminated, surrendered or canceled without having been fully exercised or is forfeited in whole or in part (including as the result of
shares of Common Stock subject to such Award being repurchased by the Company at or below the original issuance price), in any case in a manner that results in any shares of Common Stock covered by such Award not being issued or being so reacquired
by the Company, the unused Common Stock covered by such Award shall again be available for the grant of Awards under the Plan. Further, shares of Common Stock delivered (either by actual delivery or attestation) to the Company by a Participant to
satisfy the applicable exercise or purchase price of an Award and/or to satisfy any applicable tax withholding obligation (including shares retained by the Company from the Award being exercised or purchased and/or creating the tax obligation) shall
be added to the number of shares of Common Stock available for the grant of Awards under the Plan. However, in the case of Incentive Stock Options (as hereinafter defined), the foregoing provisions shall be subject to any

 
limitations under the Code. Shares of Common Stock issued under the Plan may consist in whole or in part of authorized but unissued shares, shares purchased on the open market or treasury shares.

 (b)    Substitute Awards. In connection with a merger or consolidation of an entity with the
Company or the acquisition by the Company of property or stock of an entity, the Administrator may grant Awards in substitution for any options or other stock or stock-based awards granted prior to such merger or consolidation by such entity or an
affiliate thereof. Substitute Awards may be granted on such terms as the Administrator deems appropriate in the circumstances, notwithstanding any limitations on Awards contained in the Plan. Substitute Awards shall not count against the overall
share limit set forth in Section 4(a) hereof, except as may be required by reason of Section 422 of the Code. 

5.    Stock Options. 

(a)    General.    The Administrator may grant Options to any Service Provider,
subject to the limitations on Incentive Stock Options described below. The Administrator shall determine the number of shares of Common Stock to be covered by each Option, the exercise price of each Option and the conditions and limitations
applicable to the exercise of each Option, including conditions relating to Applicable Laws, as it considers necessary or advisable. 

(b)    Incentive Stock Options.    The Administrator may grant Options intended
to qualify as Incentive Stock Options only to employees of the Company, any of the Company’s present or future “parent corporations” or “subsidiary corporations” as defined in Sections 424(e) or (f) of the Code,
respectively, and any other entities the employees of which are eligible to receive Incentive Stock Options under the Code. All Options intended to qualify as Incentive Stock Options shall be subject to and shall be construed consistently with the
requirements of Section 422 of the Code. Neither the Company nor the Administrator shall have any liability to a Participant, or any other party, (i) if an Option (or any part thereof) which is intended to qualify as an Incentive Stock
Option fails to qualify as an Incentive Stock Option or (ii) for any action or omission by the Administrator that causes an Option not to qualify as an Incentive Stock Option, including without limitation, the conversion of an Incentive Stock
Option to a Non-Qualified Stock Option or the grant of an Option intended as an Incentive Stock Option that fails to satisfy the requirements under the Code applicable to an Incentive Stock Option. Any Option
that is intended to qualify as an Incentive Stock Option, but fails to so qualify for any reason, including without limitation, the portion of any Option becoming exercisable in excess of the $100,000 limitation described in Treasury Regulation Section 1.422-4, shall be treated as a Non-Qualified Stock Option for all purposes. 

(c)    Exercise Price.    The Administrator shall establish the exercise price
of each Option and specify the exercise price in the applicable Award Agreement. The exercise price shall be not less than 100% of the Fair Market Value on the date the Option is granted. In the case of an Incentive Stock Option granted to an
employee who, at the time of grant of the Option, owns (or is treated as owning under Section 424 of the Code) stock representing more than 10% of the voting power of all classes of stock of the Company (or a “parent corporation” or
“subsidiary corporation” thereof within the meaning of Sections 424(e) or 424(f) of the Code, respectively), the per share exercise price shall be no less than 110% of the Fair Market Value on the date the Option is granted. 

(d)    Duration of Options.    Each Option shall be exercisable at such times
and subject to such terms and conditions as the Administrator may specify in the applicable Award Agreement, provided that the term of any Option shall not exceed ten years. In the case of an Incentive Stock Option granted to an employee who, at the
time of grant of the Option, owns (or is treated as owning under Section 424 of the Code) stock representing more than 10% of the voting power of all classes of stock of the Company (or a “parent corporation” or “subsidiary
corporation” thereof within the meaning of Sections 424(e) or 424(f) of the Code, respectively), the term of the Option shall not exceed five years. 

  
 2 

 (e)    Exercise of Option; Notification of
Disposition.    Options may be exercised by delivery to the Company of a written notice of exercise, in a form approved by the Administrator (which may be an electronic form), signed by the person authorized to exercise the
Option, together with payment in full (i) as specified in Section 5(f) hereof for the number of shares for which the Option is exercised and (ii) as specified in Section 9(e) hereof for any applicable withholding taxes. Unless
otherwise determined by the Administrator, an Option may not be exercised for a fraction of a share of Common Stock. If an Option is designated as an Incentive Stock Option, the Participant shall give prompt notice to the Company of any disposition
or other transfer of any shares of Common Stock acquired from the Option if such disposition or transfer is made (i) within two years from the grant date with respect to such Option or (ii) within one year after the transfer of such shares
to the Participant (other than any such disposition made in connection with a Change in Control). Such notice shall specify the date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness
or other consideration, by the Participant in such disposition or other transfer. 
 (f)    Payment
Upon Exercise.    Common Stock purchased upon the exercise of an Option granted under the Plan shall be paid for in cash, by wire transfer of immediately available funds or by check, payable to the order of the Company, or,
subject to Section 10(h), any Company insider trading policy (including, without limitation, any blackout periods) and Applicable Laws, by: 

(i)    if the Company is a Publicly Listed Company, unless the Administrator otherwise
determines, (A) delivery of an irrevocable and unconditional undertaking by a broker acceptable to the Company to deliver promptly to the Company sufficient funds to pay the exercise price, or (B) delivery by the Participant to the Company
of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company cash or a check sufficient to pay the exercise price, provided in either case, that such amount is paid to the Company
at such time as may be required by the Administrator; 
 (ii)    to the extent permitted
by the Administrator, delivery (either by actual delivery or attestation) of shares of Common Stock owned by the Participant valued at their Fair Market Value, provided (A) such method of payment is then permitted under Applicable Laws,
(B) such Common Stock, if acquired directly from the Company, was owned by the Participant for such minimum period of time, if any, as may be established by the Company at any time, and (C) such Common Stock is not subject to any
repurchase, forfeiture, unfulfilled vesting or other similar requirements; 
 (iii)    to
the extent permitted by the Administrator, surrendering shares of Common Stock then issuable upon exercise of the Option valued at their Fair Market Value on the date of exercise; 

(iv)    to the extent permitted by the Administrator, delivery of a promissory note of the
Participant to the Company on terms determined by the Administrator; 
 (v)    to the
extent permitted by the Administrator, delivery of property of any other kind which constitutes good and valuable consideration as determined by the Administrator; or 

(vi)    to the extent permitted by the Administrator, any combination of the above
permitted forms of payment (including cash or check). 
 (g)    Early Exercise of Options. The
Administrator may provide in the terms of an Award Agreement that the Service Provider may exercise an Option in whole or in part prior to the full vesting of the Option in exchange for unvested shares of Restricted Stock with respect to any
unvested 

  
 3 

 
portion of the Option so exercised. Shares of Restricted Stock acquired upon the exercise of any unvested portion of an Option shall be subject to such terms and conditions as the Administrator
shall determine. 
 6.    Restricted Stock; Restricted Stock Units. 

(a)    General. The Administrator may grant Restricted Stock, or the right to purchase
Restricted Stock, to any Service Provider, subject to the right of the Company to repurchase all or part of such shares at their issue price or other stated or formula price from the Participant (or to require forfeiture of such shares if issued at
no cost) in the event that conditions specified by the Administrator in the applicable Award Agreement are not satisfied prior to the end of the applicable restriction period or periods established by the Administrator for such Award. In
addition, the Administrator may grant to Service Providers Restricted Stock Units, which may be subject to vesting and forfeiture conditions during applicable restriction period or periods, as set forth in an applicable Award Agreement. 

(b)     Terms and Conditions for All Restricted Stock and Restricted Stock Unit
Awards. The Administrator shall determine and set forth in the applicable Award Agreement the terms and conditions applicable to each Restricted Stock and Restricted Stock Unit Award, including the conditions for vesting and repurchase (or
forfeiture) and the issue price, in each case, if any.
 (c)    Additional Provisions Relating to
Restricted Stock.
 (i)    Dividends. Participants holding shares of
Restricted Stock will be entitled to all ordinary cash dividends paid with respect to such shares to the extent such dividends have a record date that is on or after the date on which the Participant to whom such Restricted Shares are granted
becomes the record holder of such Restricted Shares, unless otherwise provided by the Administrator in the applicable Award Agreement. In addition, unless otherwise provided by the Administrator, if any dividends or distributions are paid in
shares, or consist of a dividend or distribution to holders of Common Stock of property other than an ordinary cash dividend, the shares or other property will be subject to the same restrictions on transferability and forfeitability as the shares
of Restricted Stock with respect to which they were paid. Each dividend payment will be made as provided in the applicable Award Agreement, but in no event later than the end of the calendar year in which the dividends are paid to stockholders of
that class of stock or, if later, the 15th day of the third month following the later of (A) the date the dividends are paid to stockholders of that class of stock, and (B) the date the dividends are no longer subject to forfeiture.

(ii)    Stock Certificates. The Company may require that any stock certificates
issued in respect of shares of Restricted Stock be deposited in escrow by the Participant, together with a stock power endorsed in blank, with the Company (or its designee).

(d)    Additional Provisions Relating to Restricted Stock Units. 

(i)    Settlement. Upon the vesting of a Restricted Stock Unit, the Participant
shall be entitled to receive from the Company one share of Common Stock or an amount of cash or other property equal to the Fair Market Value of one share of Common Stock on the settlement date, as the Administrator shall determine and as provided
in the applicable Award Agreement. The Administrator may provide that settlement of Restricted Stock Units shall occur upon or as soon as reasonably practicable after the vesting of the Restricted Stock Units or shall instead be deferred, on a
mandatory basis or at the election of the Participant, in a manner that complies with Section 409A.

  
 4 

 (ii)    Voting Rights. A
Participant shall have no voting rights with respect to any Restricted Stock Units unless and until shares are delivered in settlement thereof.

(iii)    Dividend Equivalents. To the extent provided by the Administrator, a
grant of Restricted Stock Units may provide a Participant with the right to receive Dividend Equivalents. Dividend Equivalents may be paid currently or credited to an account for the Participant, may be settled in cash and/or shares of Common
Stock and may be subject to the same restrictions on transfer and forfeitability as the Restricted Stock Units with respect to which the Dividend Equivalents are paid, as determined by the Administrator, subject, in each case, to such terms and
conditions as the Administrator shall establish and set forth in the applicable Award Agreement. 

7.    Other Stock-Based Awards.  

Other Stock-Based Awards may be granted hereunder to Participants, including, without limitation, Awards entitling Participants
to receive shares of Common Stock to be delivered in the future. Such Other Stock-Based Awards shall also be available as a form of payment in the settlement of other Awards granted under the Plan, as stand-alone payments and/or as payment in lieu
of compensation to which a Participant is otherwise entitled. Other Stock-Based Awards may be paid in shares of Common Stock, cash or other property, as the Administrator shall determine. Subject to the provisions of the Plan, the
Administrator shall determine the terms and conditions of each Other Stock-Based Award, including any purchase price, transfer restrictions, vesting conditions and other terms and conditions applicable thereto, which shall be set forth in the
applicable Award Agreement. 
 8.    Adjustments for Changes in Common Stock and Certain Other
Events. 
 (a)    In the event that the Administrator determines that any dividend or
other distribution (whether in the form of cash, Common Stock, other securities, or other property), reorganization, merger, consolidation, combination, repurchase, recapitalization, liquidation, dissolution, or sale, transfer, exchange or other
disposition of assets of the Company, or exchange of Common Stock or other securities of the Company, issuance of warrants or other rights to purchase Common Stock or other securities of the Company, or other similar corporate transaction or event,
as determined by the Administrator, affects the Common Stock such that an adjustment is determined by the Administrator to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended by the Company to be
made available under the Plan or with respect to any Award, then the Administrator may, in such manner as it may deem equitable, adjust any or all of: 

(i)    the number and kind of shares of Common Stock (or other securities or property) with
respect to which Awards may be granted or awarded (including, but not limited to, adjustments of the limitations in Section 4 hereof on the maximum number and kind of shares which may be issued); 

(ii)    the number and kind of shares of Common Stock (or other securities or property)
subject to outstanding Awards; 
 (iii)    the grant or exercise price with respect to
any Award; and 
 (iv)    the terms and conditions of any Awards (including, without
limitation, any applicable financial or other performance “targets” specified in an Award Agreement). 

(b)    In the event of any transaction or event described in Section 8(a) hereof (including without
limitation any Change in Control) or any unusual or nonrecurring transaction or event 

  
 5 

 
affecting the Company or the financial statements or financial condition of the Company, or any change in any Applicable Laws or accounting principles, the Administrator, on such terms and
conditions as it deems appropriate, either by the terms of the Award or by action taken prior to or after the occurrence of such transaction or event and either automatically or upon the Participant’s request, is hereby authorized to take any
one or more of the following actions whenever the Administrator determines that such action is appropriate in order to (i) prevent dilution or enlargement of the benefits or potential benefits intended by the Company to be made available under
the Plan or with respect to any Award granted or issued under the Plan, (ii) to facilitate such transaction or event or (iii) give effect to such changes in Applicable Laws or accounting principles:  

(i)    To provide for the cancellation of any such Award in exchange for either an amount
of cash or other property with a value equal to the amount that could have been obtained upon the exercise or settlement of such Award or realization of the Participant’s rights had such Award been currently exercisable, payable and fully
vested, as applicable; provided that, if the amount that could have been obtained upon the exercise or settlement of such Award or realization of the Participant’s rights, in any case, is equal to or less than zero, then such Award may be
terminated without payment; 
 (ii)    To provide that such Award shall vest and, to the
extent applicable, be exercisable as to all shares covered thereby, notwithstanding anything to the contrary in the Plan or the provisions of such Award; 

(iii)    To provide that such Award be assumed by the successor or survivor corporation, or
a parent or subsidiary thereof, or shall be substituted for by awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and applicable
exercise or purchase price, in all cases, as determined by the Administrator; 

(iv)    To make adjustments in the number and type of shares of Common Stock (or other
securities or property) subject to outstanding Awards, and/or in the terms and conditions of (including the grant or exercise price), and the criteria included in, outstanding Awards which may be granted in the future; 

(v)    To replace such Award with other rights or property selected by the Administrator;
and/or 
 (vi)    To provide that the Award will terminate and cannot vest, be exercised
or become payable after the applicable event. 
 (c)    Notwithstanding the provisions of
Section 8(b) above, if a Change in Control occurs and a Participant’s Awards are not continued, converted, assumed, or replaced with a substantially similar award by (i) the Company, or (ii) a successor entity or its parent or
subsidiary (an “Assumption”), and provided that the Participant has not had a Termination of Service, then, immediately prior to the Change in Control, such Awards shall become fully vested, exercisable and/or payable, as
applicable, and all forfeiture, repurchase and other restrictions on such Awards shall lapse, in which case, such Awards shall be canceled upon the consummation of the Change in Control in exchange for the right to receive the Change in Control
consideration payable to other holders of Common Stock (A) which may be on such terms and conditions as apply generally to holders of Common Stock under the Change in Control documents (including, without limitation, any escrow, earn-out or other deferred consideration provisions) or such other terms and conditions as the Administrator may provide, and (B) determined by reference to the number of shares subject to such Awards and net
of any applicable exercise price; provided that to the extent that any Awards constitute “nonqualified deferred compensation” that may not 

  
 6 

 
be paid upon the Change in Control under Section 409A without the imposition of taxes thereon under Section 409A, the timing of such payments shall be governed by the applicable Award
Agreement (subject to any deferred consideration provisions applicable under the Change in Control documents); and provided, further, that if the amount to which a Participant would be entitled upon the settlement or exercise of such Award at the
time of the Change in Control is equal to or less than zero, then such Award may be terminated without payment. The Administrator shall determine whether an Assumption of an Award has occurred in connection with a Change in Control. 

(d)    In connection with the occurrence of any Equity Restructuring, and notwithstanding anything to the
contrary in this Section 8, the Administrator will equitably adjust each outstanding Award, which adjustments may include adjustments to the number and type of securities subject to each outstanding Award and/or the exercise price or grant
price thereof, if applicable, the grant of new Awards to Participants, and/or the making of a cash payment to Participants, as the Administrator deems appropriate to reflect such Equity Restructuring. The adjustments provided under this
Section 8(d) shall be nondiscretionary and shall be final and binding on the affected Participant and the Company; provided that whether an adjustment is equitable shall be determined by the Administrator. 

(e)    In the event of any pending stock dividend, stock split, combination or exchange of shares, merger,
consolidation or other distribution (other than normal cash dividends) of Company assets to stockholders, or any other change affecting the shares of Common Stock or the share price of the Common Stock, including any Equity Restructuring, or if
necessary to comply with Applicable Laws or the Code, or for reasons of administrative convenience, the Administrator may, in its sole discretion, refuse to permit the exercise of any Award during a period of up to thirty days prior to the
consummation of any such transaction. 
 (f)    Except as expressly provided in the Plan or pursuant to
action of the Administrator under the Plan, no Participant shall have any rights by reason of any subdivision or consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of
any class or any dissolution, liquidation, merger, or consolidation of the Company or any other corporation. Except as expressly provided in the Plan or pursuant to action of the Administrator under the Plan, no issuance by the Company of shares of
stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number of shares of Common Stock subject to an Award or the grant or exercise price
of any Award. The existence of the Plan, any Award Agreements and the Awards granted hereunder shall not affect or restrict in any way the right or power of the Company to make or authorize (i) any adjustment, recapitalization, reorganization
or other change in the Company’s capital structure or its business, (ii) any merger, consolidation dissolution or liquidation of the Company or sale of Company assets or (iii) any sale or issuance of securities, including without
limitation, securities with rights superior to those of the Common Stock or which are convertible into or exchangeable for Common Stock. The Administrator may treat Participants and Awards (or portions thereof) differently under this Section 8.

 9.    General Provisions Applicable to Awards.  

(a)    Transferability of Awards.    Except as the Administrator may otherwise
determine or provide in an Award Agreement or otherwise, in any case in accordance with Applicable Laws, Awards, including any interest therein, may not be sold, assigned, transferred, pledged or otherwise encumbered by the person to whom they are
granted, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the life of the Participant, shall be exercisable only by the Participant. References to a Participant, to the extent relevant in
the context, shall include references to authorized transferees. 

  
 7 

 (b)    Documentation.    Each
Award shall be evidenced in an Award Agreement, which may be in such form (written, electronic or otherwise) as the Administrator shall determine. Each Award may contain terms and conditions in addition to those set forth in the Plan. 

(c)    Discretion.    Except as otherwise provided by the Plan, each Award may
be made alone or in addition or in relation to any other Award. The terms of each Award to a Participant need not be identical, and the Administrator need not treat Participants or Awards (or portions thereof) uniformly. 

(d)    Termination of Status.    The Administrator shall determine the effect
on an Award of the disability, death, retirement, authorized leave of absence or any other change or purported change in a Participant’s Service Provider status and the extent to which, and the period during which, the Participant, the
Participant’s legal representative, conservator, guardian or Designated Beneficiary may exercise rights under the Award, if applicable. 

(e)    Withholding.    Each Participant shall pay to the Company, or make
provision satisfactory to the Administrator for payment of, any taxes required by law to be withheld in connection with Awards to such Participant no later than the date of the event creating the tax liability. Except as the Administrator may
otherwise determine, all such payments shall be made in cash, by wire transfer of immediately available funds or by check, payable to the order of the Company. Notwithstanding the foregoing, Participants may satisfy such tax obligations, subject to
Section 10(h), any Company insider trading policy (including blackout periods) and Applicable Laws, to the extent permitted by the Administrator, (i) in whole or in part by delivery of shares of Common Stock, including shares of Common
Stock retained from the Award creating the tax obligation, valued at their Fair Market Value, and (ii) if there is a public market for shares of Common Stock at the time the tax obligations are satisfied, unless the Administrator otherwise
determines, (A) delivery (including, without limitation, telephonically to the extent permitted by the Company) of an irrevocable and unconditional undertaking by a broker acceptable to the Company to deliver promptly to the Company sufficient
funds to satisfy the tax obligations, or (B) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company cash or a check sufficient
to satisfy the tax withholding; provided that such amount is paid to the Company at such time as may be required by the Administrator. The number of shares of Common Stock which may be so withheld or surrendered shall be limited to the number of
shares of Common Stock which have a Fair Market Value on the date of withholding or repurchase no greater than the aggregate amount of such liabilities based on the minimum statutory withholding rates for federal, state, local and foreign income tax
and payroll tax purposes that are applicable to such supplemental taxable income. The Company may, to the extent permitted by Applicable Laws, deduct any such tax obligations from any payment of any kind otherwise due to a Participant. 

(f)    Amendment of Award.    The Administrator may amend, modify or terminate
any outstanding Award, including but not limited to, substituting therefor another Award of the same or a different type, changing the date of exercise or settlement, and converting an Incentive Stock Option to a
Non-Qualified Stock Option. The Participant’s consent to such action shall be required unless (i) the Administrator determines that the action, taking into account any related action, would not
materially and adversely affect the Participant, or (ii) the change is permitted under Section 8 and 10(f) hereof. 

(g)    Conditions on Delivery of Stock.    The Company will not be obligated to
deliver any shares of Common Stock pursuant to the Plan or to remove restrictions from shares previously delivered under the Plan until (i) all conditions of the Award have been met or removed to the satisfaction of the Company, (ii) in
the opinion of the Company’s counsel, all other legal matters in connection with the issuance and delivery of such shares have been satisfied, including any applicable securities laws and any applicable stock exchange or stock market rules and
regulations, and (iii) the Participant has executed 

  
 8 

 
and delivered to the Company such representations or agreements as the Administrator deems necessary or appropriate to satisfy the requirements of any Applicable Laws. The inability of the
Company to obtain authority from any regulatory body having jurisdiction, which authority is determined by the Administrator to be necessary to the lawful issuance and sale of any securities hereunder, shall relieve the Company of any liability in
respect of the failure to issue or sell such shares as to which such requisite authority shall not have been obtained. 

(h)    Acceleration.    The Administrator may at any time provide that any
Award shall become vested and/or exercisable in full or in part, free of some or all restrictions or conditions, or otherwise realizable in full or in part, as the case may be. 

10.    Miscellaneous.  

(a)    No Right To Employment or Other Status.    No person shall have any claim
or right to be granted an Award, and the grant of an Award shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company. The Company expressly reserves the right at any time to dismiss
or otherwise terminate its relationship with a Participant free from any liability or claim under the Plan or any Award, except as expressly provided in an applicable Award Agreement. 

(b)    No Rights As Stockholder; Certificates.    Subject to the provisions of
the applicable Award Agreement, no Participant or Designated Beneficiary shall have any rights as a stockholder with respect to any shares of Common Stock to be distributed with respect to an Award until becoming the record holder of such shares.
Notwithstanding any other provision of the Plan, unless otherwise determined by the Administrator or required by any Applicable Laws, the Company shall not be required to deliver to any Participant certificates evidencing shares of Common Stock
issued in connection with any Award and instead such shares of Common Stock may be recorded in the books of the Company (or, as applicable, its transfer agent or stock plan administrator). The Company may place legends on stock certificates issued
under the Plan deemed necessary or appropriate by the Administrator in order to comply with Applicable Laws. 

(c)    Effective Date and Term of Plan.    The Plan shall become effective on
the date on which it is adopted by the Board. No Awards shall be granted under the Plan after the completion of ten years from the earlier of (i) the date on which the Plan was adopted by the Board or (ii) the date the Plan was approved by
the Company’s stockholders, but Awards previously granted may extend beyond that date in accordance with the terms of the Plan. 

(d)    Amendment of Plan.    The Administrator may amend, suspend or terminate
the Plan or any portion thereof at any time; provided that no amendment of the Plan shall materially and adversely affect (as determined by the Administrator) any Award outstanding at the time of such amendment without the consent of the affected
Participant. Awards outstanding under the Plan at the time of any suspension or termination of the Plan shall continue to be governed in accordance with the terms of the Plan and the applicable Award Agreement, as in effect prior to such suspension
or termination. The Board shall obtain stockholder approval of any Plan amendment to the extent necessary to comply with Applicable Laws. 

(e)    Provisions for Foreign Participants. The Administrator may modify Awards granted to
Participants who are foreign nationals or employed outside the United States or establish subplans or procedures under the Plan to address differences in laws, rules, regulations or customs of such foreign jurisdictions with respect to tax,
securities, currency, employee benefit or other matters. 

  
 9 

 (f)    Section 409A.

(i)    General. The Company intends that all Awards be structured in compliance
with, or to satisfy an exemption from, Section 409A, such that no adverse tax consequences, interest, or penalties under Section 409A apply in connection with any Awards. Notwithstanding anything herein or in any Award Agreement to the
contrary, the Administrator may, without a Participant’s prior consent, amend this Plan and/or Awards, adopt policies and procedures, or take any other actions (including amendments, policies, procedures and actions with retroactive effect) as
are necessary or appropriate to preserve the intended tax treatment of Awards under the Plan, including without limitation, any such actions intended to (A) exempt this Plan and/or any Award from the application of Section 409A, and/or
(B) comply with the requirements of Section 409A, including without limitation any such regulations, guidance, compliance programs and other interpretative authority that may be issued after the date of grant of any Award. The Company
makes no representations or warranties as to the tax treatment of any Award under Section 409A or otherwise. The Company shall have no obligation under this Section 10(f) or otherwise to take any action (whether or not described herein) to
avoid the imposition of taxes, penalties or interest under Section 409A with respect to any Award and shall have no liability to any Participant or any other person if any Award, compensation or other benefits under the Plan are determined to
constitute non-compliant, “nonqualified deferred compensation” subject to the imposition of taxes, penalties and/or interest under Section 409A. 

(ii)    Separation from Service. With respect to any Award that constitutes
“nonqualified deferred compensation” under Section 409A, any payment or settlement of such Award that is to be made upon a termination of a Participant’s Service Provider relationship shall, to the extent necessary to avoid the
imposition of taxes under Section 409A, be made only upon the Participant’s “separation from service” (within the meaning of Section 409A), whether such “separation from service” occurs upon or subsequent to the
termination of the Participant’s Service Provider relationship. For purposes of any such provision of this Plan or any Award Agreement relating to any such payments or benefits, references to a “termination,” “termination of
employment” or like terms shall mean “separation from service.” 

(iii)    Payments to Specified Employees. Notwithstanding any contrary provision in
the Plan or any Award Agreement, any payment(s) of “nonqualified deferred compensation” that are otherwise required to be made under an Award to a “specified employee” (as defined under Section 409A and determined by the
Administrator) as a result of his or her “separation from service” shall, to the extent necessary to avoid the imposition of taxes under Code Section 409A(a)(2)(B)(i), be delayed until the expiration of the six-month period immediately following such “separation from service” (or, if earlier, until the date of death of the specified employee) and shall instead be paid (in a manner set forth in the Award
agreement) on the day that immediately follows the end of such six-month period or as soon as administratively practicable thereafter (without interest). Any payments of “nonqualified deferred
compensation” under such Award that are, by their terms, payable more than six months following the Participant’s “separation from service” shall be paid at the time or times such payments are otherwise scheduled to be made. 

(g)    Limitations on Liability. Notwithstanding any other provisions of the Plan, no
individual acting as a director, officer, other employee or agent of the Company will be liable to any Participant, former Participant, spouse, beneficiary, or any other person for any claim, loss, liability, or expense incurred in connection with
the Plan or any Award, nor will such individual be personally liable with respect to the Plan because of any contract or other instrument he or she executes in his or her capacity as an Administrator, director, officer, other employee or agent of
the Company. The Company 

  
 10 

 
will indemnify and hold harmless each director, officer, other employee and agent of the Company to whom any duty or power relating to the administration or interpretation of the Plan has been or
will be granted or delegated, against any cost or expense (including attorneys’ fees) or liability (including any sum paid in settlement of a claim with the Administrator’s approval) arising out of any act or omission to act concerning
this Plan unless arising out of such person’s own fraud or bad faith.
 (h)    Lock-Up Period. The Company may, at the request of any representative of the underwriters or otherwise, in connection with any registration of the offering of any securities of the Company under the Securities
Act, prohibit Participants from, directly or indirectly, selling or otherwise transferring any shares of Common Stock or other securities of the Company during a period of up to one hundred eighty days following the effective date of a registration
statement of the Company filed under the Securities Act. 
 (i)    Right of First Refusal. 

(i)    Before any shares of Common Stock held by a Participant or any permitted transferee
(each, a “Holder”) may be sold, pledged, assigned, hypothecated, transferred, or otherwise disposed of (each, a “Transfer”), the Company or its assignee(s) shall have a right of first refusal to
purchase the shares of Common Stock proposed to be Transferred on the terms and conditions set forth in this Section 10(i) (the “Right of First Refusal”). In the event that the Company’s charter, bylaws and/or a
stockholders’ agreement applicable to the shares of Common Stock contain a right of first refusal with respect to the shares of Common Stock, such right of first refusal shall apply to the shares of Common Stock to the extent such provisions
are more restrictive than the Right of First Refusal set forth in this Section 10(i) and the Right of First Refusal set forth in this Section 10(i) shall not in any way restrict the operation of the Company’s charter, bylaws or the
operation of any applicable stockholders’ agreement. 
 (ii)    In the event any
Holder desires to Transfer any shares of Common Stock, the Holder shall deliver to the Company a written notice (the “Notice”) stating: (A) the Holder’s bona fide intention to sell or otherwise Transfer such shares
of Common Stock; (B) the name of each proposed purchaser or other transferee (“Proposed Transferee”); (C) the number of shares of Common Stock to be Transferred to each Proposed Transferee; and (D) the price
for which the Holder proposes to Transfer the shares of Common Stock (the “Offered Price”), and the Holder shall offer such shares of Common Stock at the Offered Price to the Company or its assignee(s). 

(iii)    Within twenty-five days after receipt of the Notice, the Company and/or its
assignee(s) may elect in writing to purchase all, but not less than all, of the shares of Common Stock proposed to be Transferred to any one or more of the Proposed Transferees by delivery of a written exercise notice to the Holder (a
“Company Notice”). The purchase price (“Purchase Price”) for the shares of Common Stock repurchased under this Section 10(i) shall be the Offered Price. 

(iv)    Payment of the Purchase Price shall be made, at the option of the Company or its
assignee(s), in cash (by check or wire transfer), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to the assignee), or by any combination thereof, within
five days after delivery of the Company Notice or in the manner and at the times mutually agreed to by the Company and the Holder. Should the Offered Price specified in the Notice be payable in property other than cash, the Company or its assignee
shall have the right to pay the purchase price in the form of cash equal in amount to the value of such property, as determined by the Administrator. 

  
 11 

 (v)    If all or a portion of the shares
of Common Stock proposed in the Notice to be Transferred are not purchased by the Company and/or its assignee(s) as provided in this Section 10(i), then the Holder may sell or otherwise Transfer such shares of Common Stock to that Proposed
Transferee at the Offered Price or at a higher price; provided that such sale or other Transfer is consummated within sixty days after the date of the Notice; and provided, further, that any such sale or other Transfer is effected in accordance with
any Applicable Laws and the Proposed Transferee agrees in writing that the provisions of this Plan and the applicable Award Agreement and any other applicable agreements governing the shares of Common Stock to be Transferred shall continue to apply
to the shares of Common Stock in the hands of such Proposed Transferee. If the shares of Common Stock described in the Notice are not Transferred to the Proposed Transferee within such sixty-day period, a new
Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First Refusal, as provided herein, before any shares of Common Stock held by the Holder may be sold or otherwise Transferred. 

(vi)    Anything to the contrary contained in this Section 10(i) notwithstanding and
to the extent permitted by the Administrator, the Transfer of any or all of the shares of Common Stock during a Participant’s lifetime or upon a Participant’s death by will or intestacy to the Participant’s Immediate Family or a trust
for the benefit of the Participant’s Immediate Family shall be exempt from the Right of First Refusal. As used herein, “Immediate Family” shall mean spouse, lineal descendant or antecedent, father, mother, brother or
sister or stepchild (whether or not adopted). In such case, the transferee or other recipient shall receive and hold the shares of Common Stock so Transferred subject to the provisions of this Plan (including the Right of First Refusal), the
applicable Award Agreement and any other applicable agreements governing the shares of Common Stock to be Transferred, and there shall be no further Transfer of such shares of Common Stock except in accordance with the terms of this
Section 10(i) (or otherwise as expressly provided under the Plan). 
 (vii)    The
Right of First Refusal shall terminate as to all shares of Common Stock if the Company becomes a Publicly Listed Company upon such occurrence. 

(j)    Data Privacy. As a condition of receipt of any Award, each Participant explicitly and
unambiguously consents to the collection, use and transfer, in electronic or other form, of personal data as described in this paragraph by and among, as applicable, the Company and its subsidiaries and affiliates for the exclusive purpose of
implementing, administering and managing the Participant’s participation in the Plan. The Company and its subsidiaries and affiliates may hold certain personal information about a Participant, including but not limited to, the
Participant’s name, home address and telephone number, date of birth, social security or insurance number or other identification number, salary, nationality, job title(s), any shares of stock held in the Company or any of its subsidiaries and
affiliates, details of all Awards, in each case, for the purpose of implementing, managing and administering the Plan and Awards (the “Data”). The Company and its subsidiaries and affiliates may transfer the Data amongst
themselves as necessary for the purpose of implementation, administration and management of a Participant’s participation in the Plan, and the Company and its subsidiaries and affiliates may each further transfer the Data to any third parties
assisting the Company in the implementation, administration and management of the Plan. These recipients may be located in the Participant’s country, or elsewhere, and the Participant’s country may have different data privacy laws and
protections than the recipients’ country. Through acceptance of an Award, each Participant authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing,
administering and managing the Participant’s participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom the Company or the Participant may elect to deposit any shares
of Common Stock. The Data 

  
 12 

 
related to a Participant will be held only as long as is necessary to implement, administer, and manage the Participant’s participation in the Plan. A Participant may, at any time, view the
Data held by the Company with respect to such Participant, request additional information about the storage and processing of the Data with respect to such Participant, recommend any necessary corrections to the Data with respect to the Participant
or refuse or withdraw the consents herein in writing, in any case without cost, by contacting his or her local human resources representative. The Company may cancel Participant’s ability to participate in the Plan and, in the
Administrator’s discretion, the Participant may forfeit any outstanding Awards if the Participant refuses or withdraws his or her consents as described herein. For more information on the consequences of refusal to consent or withdrawal of
consent, Participants may contact their local human resources representative. 

(k)    Severability. In the event any portion of the Plan or any action taken pursuant thereto
shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provisions had not been included, and the
illegal or invalid action shall be null and void. 
 (l)    Governing Documents. In the event of
any contradiction between the Plan and any Award Agreement or any other written agreement between a Participant and the Company or any Subsidiary of the Company that has been approved by the Administrator, the terms of the Plan shall govern, unless
it is expressly specified in such Award Agreement or other written document that a specific provision of the Plan shall not apply. 

(m)    Governing Law. The provisions of the Plan and all Awards made hereunder shall be
governed by and interpreted in accordance with the laws of the State of Delaware, disregarding choice-of-law principles of the law of any state that would require the
application of the laws of a jurisdiction other than such state. 
 (n)    Submission to
Jurisdiction; Waiver of Jury Trial. By accepting an Award, each Participant irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the courts of the State of Delaware and of the United States of America, in each case
located in the State of Delaware, for any action arising out of or relating to the Plan (and agrees not to commence any litigation relating thereto except in such courts), and further agrees that service of any process, summons, notice or document
by U.S. registered mail to the address contained in the records of the Company shall be effective service of process for any litigation brought against it in any such court. By accepting an Award, each Participant irrevocably and unconditionally
waives any objection to the laying of venue of any litigation arising out of Plan or Award hereunder in the courts of the State of Delaware or the United States of America, in each case located in the State of Delaware, and further irrevocably and
unconditionally waives and agrees not to plead or claim in any such court that any such litigation brought in any such court has been brought in an inconvenient forum. By accepting an Award, each Participant irrevocably and unconditionally waives,
to the fullest extent permitted by applicable law, any and all rights to trial by jury in connection with any litigation arising out of or relating to the Plan or any Award hereunder. 

(o)    Restrictions on Shares; Claw-Back Provisions. Awards and shares of Common
Stock acquired in respect of Awards shall be subject to such terms and conditions as the Administrator shall determine, including, without limitation, restrictions on the transferability of shares of Common Stock, the right of the Company to
repurchase shares of Common Stock, the right of the Company to require that shares of Common Stock be transferred in the event of certain transactions, tag-along rights, bring-along rights, redemption and co-sale rights and voting requirements. Such
terms and conditions may be additional to those contained in the Plan and may, as determined by the Administrator, be contained in the applicable Award Agreement or in an exercise notice, stockholders’ agreement or in such other agreement as
the Administrator shall determine, in each case in a form determined by the 

  
 13 

 
Administrator. The issuance of such shares of Common Stock shall be conditioned on the Participant’s consent to such terms and conditions and the Participant’s entering into such
agreement or agreements. All Awards (including any proceeds, gains or other economic benefit actually or constructively received by Participant upon any receipt or exercise of any Award or upon the receipt or resale of any shares of Common Stock
underlying the Award) shall be subject to the provisions of any claw-back policy implemented by the Company, including, without limitation, any claw-back policy adopted to comply with the requirements of the Dodd-Frank Wall Street Reform and
Consumer Protection Act and any rules or regulations promulgated thereunder, to the extent set forth in such claw-back policy and/or in the applicable Award Agreement. A Participant shall, as a condition to receiving an Award, agree to execute such
further instruments and to take such further action as the Company requests to carry out the purposes and intent of the Plan and any Award, including, without limitation, restrictions on the transferability of shares of Common Stock, the right of
the Company to repurchase shares of Common Stock, the right of the Company to require that shares of Common Stock be transferred in the event of certain transactions, tag-along rights, bring-along rights,
redemption and co-sale rights and voting requirements in accordance with Section 10(o) of the Plan. 

(p)    Titles and Headings. The titles and headings of the Sections in the Plan are for convenience
of reference only and, in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control. 

(q)    Conformity to Securities Laws. Participant acknowledges that the Plan is intended to conform
to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, and state securities laws and regulations. Notwithstanding
anything herein to the contrary, the Plan and all Awards granted hereunder shall be administered only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by Applicable Laws, the Plan and all Award Agreements
shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. 

11.    Definitions. As used in the Plan, the following words and phrases shall have
the following meanings: 
 (a)    “Administrator” means the Board or a Committee
to the extent that the Board’s powers or authority under the Plan have been delegated to such Committee. 

(b)    “Applicable Laws” means the requirements relating to the administration of
equity incentive plans under U.S. federal and state securities, tax and other applicable laws, rules and regulations, the applicable rules of any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable
laws and rules of any foreign country or other jurisdiction where Awards are granted or issued under the Plan. 

(c)     “Award” means, individually or collectively, a grant under the Plan
of Options, Restricted Stock, Restricted Stock Units or Other Stock-Based Awards. 

(d)    “Award Agreement” means a written agreement evidencing an Award,
which agreements may be in electronic medium and shall contain such terms and conditions with respect to an Award as the Administrator shall determine, consistent with and subject to the terms and conditions of the Plan. 

(e)    “Board” means the Board of Directors of the Company. 

  
 14 

 (f)    “Cause,” with respect to
a Participant, means “Cause” (or any term of similar effect) as defined in such Participant’s employment agreement with the Company if such an agreement exists and contains a definition of Cause (or term of similar effect), or, if no
such agreement exists or such agreement does not contain a definition of Cause (or term of similar effect), then Cause shall include, but not be limited to: (i) the Participant’s unauthorized use or disclosure of confidential information
or trade secrets of the Company or any material breach of a written agreement between the Participant and the Company, including without limitation a material breach of any employment, confidentiality,
non-compete, non-solicit or similar agreement; (ii) the Participant’s commission of, indictment for or the entry of a plea of guilty or nolo contendere
by the Participant to, a felony under the laws of the United States or any state thereof or any crime involving dishonesty or moral turpitude (or any similar crime in any jurisdiction outside the United States); (iii) the Participant’s gross
negligence or willful misconduct or the Participant’s willful or repeated failure or refusal to substantially perform assigned duties; (iv) any act of fraud, embezzlement, material misappropriation or dishonesty committed by the
Participant against the Company; or (v) any acts, omissions or statements by a Participant which the Company reasonably determines to be materially detrimental or damaging to the reputation, operations, prospects or business relations of the
Company. 
 (g)    “Change in Control” means (i) a merger or consolidation
of the Company with or into any other corporation or other entity or person, (ii) a sale, lease, exchange or other transfer in one transaction or a series of related transactions of all or substantially all of the Company’s assets, or
(iii) any other transaction, including the sale by the Company of new shares of its capital stock or a transfer of existing shares of capital stock of the Company, the result of which is that a third party that is not an affiliate of the
Company or its stockholders (or a group of third parties not affiliated with the Company or its stockholders) immediately prior to such transaction acquires or holds capital stock of the Company representing a majority of the Company’s
outstanding voting power immediately following such transaction; provided that the following events shall not constitute a “Change in Control”: (A) a transaction (other than a sale of all or substantially all of the Company’s assets)
in which the holders of the voting securities of the Company immediately prior to the merger or consolidation hold, directly or indirectly, at least a majority of the voting securities in the successor corporation or its parent immediately after the
merger or consolidation; (B) a sale, lease, exchange or other transaction in one transaction or a series of related transactions of all or substantially all of the Company’s assets to an affiliate of the Company; (C) an initial public
offering of any of the Company’s securities or any other transaction or series of related transactions principally for bona fide equity financing purposes; (D) a reincorporation of the Company solely to change its jurisdiction; or
(E) a transaction undertaken for the primary purpose of creating a holding company that will be owned in substantially the same proportion by the persons who held the Company’s securities immediately before such transaction.
Notwithstanding the foregoing, if a Change in Control would give rise to a payment or settlement event with respect to any Award that constitutes “nonqualified deferred compensation,” the transaction or event constituting the Change in
Control must also constitute a “change in control event” (as defined in Treasury Regulation §1.409A-3(i)(5)) in order to give rise to the payment or settlement event for such Award, to the
extent required by Section 409A. 
 (h)    “Code” means the Internal
Revenue Code of 1986, as amended, and the regulations issued thereunder. 

(i)    “Committee” means one or more committees or subcommittees of the
Board, which may be comprised of one or more directors and/or executive officers of the Company, in either case, to the extent permitted in accordance with Applicable Laws. 

(j)    “Common Stock” means the common stock of the Company.  

  
 15 

 (k)    “Company” means
Icosavax, Inc., a Delaware corporation, or any successor thereto. Except where the context otherwise requires, the term “Company” includes any of the Company’s present or future parent or subsidiary corporations as defined in
Sections 424(e) or (f) of the Code and any other business venture (including, without limitation, joint venture or limited liability company) in which the Company has a significant interest, as determined by the Administrator. 

(l)    “Consultant” means any person, including any advisor, engaged
by the Company or a parent or subsidiary of the Company to render services to such entity. 

(m)    “Designated Beneficiary” means the beneficiary or
beneficiaries designated, in a manner determined by the Administrator, by a Participant to receive amounts due or exercise rights of the Participant in the event of the Participant’s death or incapacity    In the absence of
an effective designation by a Participant, “Designated Beneficiary” shall mean the Participant’s estate. 

(n)    “Director” means a member of the Board. 

(o)    “Disability” means a permanent and total disability within the meaning of
Section 22(e)(3) of the Code, as it may be amended from time to time. 

(p)    “Dividend Equivalents” means a right granted to a Participant
pursuant to Section 6(d)(3) hereof to receive the equivalent value (in cash or shares of Common Stock) of dividends paid on shares of Common Stock. 

(q)    “Employee” means any person, including officers and Directors, employed by
the Company (within the meaning of Section 3401(c) of the Code) or any parent or subsidiary of the Company. 

(r)    “Equity Restructuring” means, as determined by the Administrator, a non-reciprocal transaction between the Company and its stockholders, such as a stock dividend, stock split, spin-off or recapitalization through a large, nonrecurring cash
dividend, that affects the shares of Common Stock (or other securities of the Company) or the share price of Common Stock (or other securities of the Company) and causes a change in the per share value of the Common Stock underlying outstanding
Awards. 
 (s)    “Exchange Act” means the Securities Exchange Act
of 1934, as amended. 
 (t)    “Fair Market Value” means, as of any date,
the value of Stock determined as follows: (i) if the Common Stock is listed on any established stock exchange, its Fair Market Value shall be the closing sales price for such Common Stock as quoted on such exchange for such date, or if no sale
occurred on such date, the first market trading day immediately prior to such date during which a sale occurred, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; (ii) if the Common Stock is
not traded on a stock exchange but is quoted on a national market or other quotation system, the last sales price on such date, or if no sales occurred on such date, then on the date immediately prior to such date on which sales prices are reported,
as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or (iii) in the absence of an established market for the Common Stock, the Fair Market Value thereof shall be determined by the
Administrator. 
 (u)    “Incentive Stock Option” means an
“incentive stock option” as defined in Section 422 of the Code. 

(v)    “Non-Qualified Stock
Option” means an Option that is not intended to be or otherwise does not qualify as an Incentive Stock Option. 

  
 16 

 (w)    “Option” means an
option to purchase Common Stock. 
 (x)    “Other Stock-Based Awards”
means other Awards of shares of Common Stock, and other Awards that are valued in whole or in part by reference to, or are otherwise based on, shares of Common Stock or other property. 

(y)    “Participant” means a Service Provider who has been granted
an Award under the Plan. 
 (z)    “Plan” means this 2017 Equity
Incentive Plan. 
 (aa)    “Publicly Listed Company” means that the Company or
its successor (i) is required to file periodic reports pursuant to Section 12 of the Exchange Act and (ii) the Common Stock is listed on one or more National Securities Exchanges (within the meaning of the Exchange Act) or is quoted
on NASDAQ or a successor quotation system. 
 (bb)    “Restricted Stock”
means Common Stock awarded to a Participant pursuant to Section 6 hereof that is subject to certain vesting conditions and other restrictions. 

(cc)    “Restricted Stock Unit” means an unfunded, unsecured right to
receive, on the applicable settlement date, one share of Common Stock or an amount in cash or other consideration determined by the Administrator equal to the value thereof as of such payment date, which right may be subject to certain vesting
conditions and other restrictions. 

(dd)    “Section 409A” means
Section 409A of the Code and all regulations, guidance, compliance programs and other interpretative authority thereunder. 

(ee)    “Securities Act” means the Securities Act of 1933, as amended from time to
time. 
 (ff)    “Service Provider” means an Employee, Consultant or
Director. 
 (gg)    “Termination of Service” means the date the
Participant ceases to be a Service Provider. 

  
 17 

 ICOSAVAX, INC. 

2017 EQUITY INCENTIVE PLAN 

CALIFORNIA SUPPLEMENT 

The Administrator has adopted this supplement for purposes of satisfying the requirements of Section 25102(o) of the
California Corporations Code and the regulations issued thereunder (“Section 25102(o)”). Notwithstanding anything to the contrary contained in the Plan and except as otherwise determined by
the Administrator, the provisions set forth in this supplement shall apply to all Awards granted under the Plan to a Participant who is a resident of the State of California on the date of grant (a “California Participant”)
and which are intended to be exempt from registration in California pursuant to Section 25102(o). This supplement shall not apply to Awards granted to California Participants or after the date on which the Company becomes a Publicly Listed
Company. Definitions in the Plan are applicable to this supplement. 
 1.    Limitation on
Securities Issuable under the Plan. The amount of securities issued pursuant to the Plan shall not exceed the amounts permitted under section 260.140.45 of the California Code of Regulations to the extent applicable. 

2.    Additional Limitations On Options.  

(a)    Maximum Duration of Options. No Options granted to California Participants will be
granted for a term in excess of 10 years. 
 (b)    Minimum Exercise Period Following
Termination. Unless a California Participant’s Service Provider relationship is terminated for Cause, in the event of termination of such Participant’s Service Provider relationship, to the extent required by Applicable Laws, he
or she shall have the right to exercise an Option, to the extent that he or she was otherwise entitled to exercise such Option on the date employment terminated, as follows: (i) at least six months from the date of termination, if termination
was caused by such Participant’s death or Disability and (ii) at least 30 days from the date of termination, if termination was caused other than by such Participant’s death or Disability. 

3.    Additional Limitations For Restricted Stock Awards, Restricted Stock Units and Other
Stock-Based Awards. The terms of all Awards granted to California Participants shall comply, to the extent applicable, with Section 260.140.41 and Section 260.140.42 of the California Code of Regulations. 

4.    Adjustments. The Administrator will make such adjustments to an Award held by a
California Participant as may be required by Section 260.140.41 or Section 260.140.42 of the California Code of Regulations. 

5.    Additional Requirement To Provide Information To California
Participants. To the extent required by Section 260.140.46 of the California Code of Regulations, the Company shall provide to each California Participant and to each California Participant who acquires Common Stock pursuant
to the Plan, not less frequently than annually, copies of annual financial statements (which need not be audited). The Company shall not be required to provide such statements to key persons whose duties in connection with the Company assure their
access to equivalent information. In addition, this information requirement shall not apply to the Plan to the extent that it complies with all conditions of Rule 701 of the Securities Act (“Rule 701”) as determined by the
Administrator; provided that for purposes of 

  
 CS-1 

 
determining such compliance, any registered domestic partner shall be considered a “family member” as that term is defined in Rule 701. 

6.    Stockholder Approval; Additional Limitations On Timing Of Awards. The Plan
will be submitted for the approval of the Company’s stockholders within twelve (12) months after the date of the Board’s adoption of the Plan. Awards may be granted or awarded prior to such stockholder approval; provided that no Award
granted to a California Participant shall become exercisable, vested or realizable, as applicable to such Award, unless the Plan has been approved by the Company’s stockholders within twelve months before or after the date the Plan was
adopted by the Administrator; and provided, further, that if such approval has not been obtained at the end of said twelve-month period, all Awards previously granted or awarded under the Plan to California Participants shall thereupon be canceled
and become null and void. 

  
 CS-2 

 AMENDMENT NO. 1 

TO THE 
 ICOSAVAX, INC.
2017 EQUITY INCENTIVE PLAN 
 THIS AMENDMENT NO. 1 TO THE ICOSAVAX, INC. 2017 EQUITY INCENTIVE PLAN (this
“Amendment”), dated as of August 15, 2019, is made and adopted by ICOSAVAX, INC., a Delaware corporation (the “Company”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed
to them in the Plan (as defined below). 
 RECITALS 

WHEREAS, the Company has adopted the Icosavax, Inc. 2017 Equity Incentive Plan (the “Plan”); 

WHEREAS, the Company desires to amend the Plan as set forth below; 

WHEREAS, pursuant to Section 10(d) of the Plan, the Plan may be amended by the Board of Directors of the Company; and

 WHEREAS, the Board of Directors of the Company has approved this Amendment pursuant to resolutions adopted on
August 15, 2019, and the stockholders of the Company have approved this Amendment pursuant to resolutions adopted on August 15, 2019. 

NOW, THEREFORE, in consideration of the foregoing, the Company hereby amends the Plan as follows: 

1.    The first sentence of Section 4 of the Plan is hereby amended to read as follows: 

“Subject to adjustment under Section 8 hereof, Awards may be made under the Plan covering up to
6,996,898 shares of Common Stock.” 
 2.    This Amendment shall be and is hereby incorporated in
and forms a part of the Plan. All other terms and provisions of the Plan shall remain unchanged except as specifically modified herein. The Plan, as amended by this Amendment, is hereby ratified and confirmed. 

[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK] 

 I hereby certify that the foregoing Amendment was duly adopted by the Board
of Directors of Icosavax, Inc. on August 15, 2019, and duly approved by the stockholders of Icosavax, Inc. on August 15, 2019. 
  

			
	 By:
	 	 /s/ Adam K.
Simpson

 
			
	 Name:
	 	 Adam K. Simpson

	 Title:
	 	 President and Chief Executive Officer

  
 [Signature Page –
Amendment No. 1 to the 2017 Equity Incentive Plan] 

 AMENDMENT NO. 2 

TO THE 
 ICOSAVAX, INC.
2017 EQUITY INCENTIVE PLAN 
 THIS AMENDMENT NO. 2 TO THE ICOSAVAX, INC. 2017 EQUITY INCENTIVE PLAN (this
“Amendment”), dated as of January 29, 2021, is made and adopted by ICOSAVAX, INC., a Delaware corporation (the “Company”). Capitalized terms used but not otherwise defined herein shall have the meanings
ascribed to them in the Plan (as defined below). 
 RECITALS 

WHEREAS, the Company has adopted the Icosavax, Inc. 2017 Equity Incentive Plan (the “Plan”); 

WHEREAS, the Company desires to amend the Plan as set forth below; 

WHEREAS, pursuant to Section 10(d) of the Plan, the Plan may be amended by the Board of Directors of the Company; and

 WHEREAS, the Board of Directors of the Company has approved this Amendment pursuant to resolutions adopted on
January 29, 2021 and the stockholders of the Company have approved this Amendment pursuant to resolutions adopted on January 29, 2021. 

NOW, THEREFORE, in consideration of the foregoing, the Company hereby amends the Plan as follows: 

1.    The first sentence of Section 4 of the Plan is hereby amended to read as follows: 

“Subject to adjustment under Section 8 hereof, Awards may be made under the Plan covering up to
13,211,146 shares of Common Stock.” 
 2.    This Amendment shall be and is hereby incorporated in
and forms a part of the Plan. All other terms and provisions of the Plan shall remain unchanged except as specifically modified herein. The Plan, as amended by this Amendment, is hereby ratified and confirmed. 

[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK] 

 I hereby certify that the foregoing Amendment was duly adopted by the Board
of Directors of Icosavax, Inc. on January 29, 2021, and duly approved by the stockholders of Icosavax, Inc. on January 29, 2021. 
  

			
	 By:
	 	 /s/ Adam K.
Simpson

 
			
	 Name:
	 	 Adam K. Simpson

	 Title:
	 	 President and Chief Executive Officer

  

  
 [Signature Page –
Amendment No. 2 to the 2017 Equity Incentive Plan] 

 AMENDMENT NO. 3 

TO THE 
 ICOSAVAX, INC.
2017 EQUITY INCENTIVE PLAN 
 THIS AMENDMENT NO. 3 TO THE ICOSAVAX, INC. 2017 EQUITY INCENTIVE PLAN (this
“Amendment”), dated as of March 19, 2021, is made and adopted by ICOSAVAX, INC., a Delaware corporation (the “Company”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed
to them in the Plan (as defined below). 
 RECITALS 

WHEREAS, the Company has adopted the Icosavax, Inc. 2017 Equity Incentive Plan (the “Plan”); 

WHEREAS, the Company desires to amend the Plan as set forth below; 

WHEREAS, pursuant to Section 10(d) of the Plan, the Plan may be amended by the Board of Directors of the Company; and

 WHEREAS, the Board of Directors of the Company has approved this Amendment pursuant to resolutions adopted on
March 19, 2021, and the stockholders of the Company have approved this Amendment pursuant to resolutions adopted on March 19, 2021. 

NOW, THEREFORE, in consideration of the foregoing, the Company hereby amends the Plan as follows: 

1.    The first sentence of Section 4 of the Plan is hereby amended to read as follows: 

“Subject to adjustment under Section 8 hereof, Awards may be made under the Plan covering up to
29,631,863 shares of Common Stock.” 
 2.    This Amendment shall be and is hereby incorporated in
and forms a part of the Plan. All other terms and provisions of the Plan shall remain unchanged except as specifically modified herein. The Plan, as amended by this Amendment, is hereby ratified and confirmed. 

[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK] 

 I hereby certify that the foregoing Amendment was duly adopted by the Board
of Directors of Icosavax, Inc. on March 19, 2021, and duly approved by the stockholders of Icosavax, Inc. on March 19, 2021. 
  

			
	 By:
	 	 /s/ Adam K.
Simpson

 
			
	 Name:
	 	 Adam K. Simpson

	 Title:
	 	 President and Chief Executive Officer

  

  
 [Signature Page –
Amendment No. 3 to the 2017 Equity Incentive Plan] 

 ICOSAVAX, INC. 

2017 EQUITY INCENTIVE PLAN 

STOCK OPTION GRANT NOTICE AND 

STOCK OPTION AGREEMENT 

Icosavax, Inc. (the “Company”), pursuant to its 2017 Equity Incentive Plan (as amended from time to
time, the “Plan”), hereby grants to Participant an Option to purchase the number of shares of the Company’s Common Stock (referred to herein as “Shares”) set forth below. This Option is subject to
all of the terms and conditions as set forth herein and in the Stock Option Agreement attached hereto as Exhibit A (the “Agreement”) and the Plan, each of which is incorporated herein by reference. Unless otherwise
defined herein, the terms defined in the Plan shall have the same defined meanings in this Stock Option Grant Notice (“Grant Notice”) and the Agreement. 

 

			
	 Participant:
	  	 [Insert Participant Name]

		
	 Grant Date:
	  	 [Insert Grant Date]

		
	 Vesting Commencement Date:
	  	 [Insert Vesting Commencement Date]

		
	 Exercise Price per Share:
	  	 $[Insert Exercise Price Per Share]

		
	 Total Exercise Price:
	  	 $[Insert Aggregate Exercise Price on Grant Date]

		
	 Total Number of Shares Subject to Option:
	  	 [Insert Number of Shares]

		
	 Expiration Date:
	  	 [Insert Tenth Anniversary of Grant Date]

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

		
	 Vesting Schedule:
	  	 [25% of the total number of Shares subject to the Option shall vest one year after the Vesting Commencement Date, and
1/48th of the total number of Shares subject to the Option shall vest on the last day of each one-month period of Participant’s service as a Service Provider thereafter, so that all of the Shares subject
to the Option shall be vested on the 4th anniversary of the Vesting Commencement Date.]

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

							
	 ICOSAVAX, INC.
	    	 PARTICIPANT

				
	 By:
	 	  
	    	 By:
	  	  

	 Print Name:
	 	  
	    	 Print Name:
	  	  

	 Title:
	 	  
	    	 State of
	  	
		 		    	 Residence:
	  	  

 EXHIBIT A 

TO STOCK OPTION GRANT NOTICE 

STOCK OPTION AGREEMENT 

Pursuant to the Grant Notice to which this Agreement is attached, the Company has granted to Participant an Option under the
Plan to purchase the number of Shares indicated in the Grant Notice. 
 1.    Grant of
Option. In consideration of Participant’s past and/or continued employment with or service to the Company or a parent or subsidiary of the Company and for other good and valuable consideration, effective as of the Grant Date set forth
in the Grant Notice, the Company irrevocably grants to Participant an Option to purchase any part or all of an aggregate of the number of Shares set forth in the Grant Notice at the Exercise Price per Share set forth in the Grant Notice, upon the
terms and conditions set forth in the Plan and this Agreement. Unless designated as a Non-Qualified Stock Option in the Grant Notice, the Option shall be an Incentive Stock Option to the maximum extent
permitted by law. 
 2.    Vesting. The Option shall become vested and exercisable in such
amounts and at such times as are set forth in the vesting schedule in the Grant Notice (the “Vesting Schedule”), except that any Share as to which the Option would be fractionally vested will be accumulated and will vest and
become exercisable only when a whole Share has accumulated. The installments provided for in the vesting schedule are cumulative. Unless otherwise determined by the Administrator, any portion of the Option that has not become vested and exercisable
on or prior to the date Participant incurs a Termination of Service shall be forfeited on the date of Participant’s Termination of Service and shall not thereafter become vested, except as may be otherwise provided by the Administrator or as
set forth in another written agreement between the Company and Participant. 

3.    Exercise. 

(a)    Duration of Exercisability. Any vested portion of the Option may be exercised in whole or in
part at any time prior to the time when the Option or portion thereof becomes unexercisable under Section 4. 

(b)    Person Eligible to Exercise. During the lifetime of Participant, only Participant may
exercise the Option or any portion thereof. After the death of Participant, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 4, be exercised by Participant’s personal
representative or by any person empowered to do so under the deceased Participant’s will or under the then Applicable Laws of descent and distribution. 

(c)    Manner of Exercise. The Option, or any exercisable portion thereof, may be exercised solely
by delivery to the Secretary of the Company or the Secretary’s office, or such other place as may be determined by the Administrator, of all of the following prior to the time when the Option or such portion thereof becomes unexercisable under
Section 4: 
 (i)    An exercise notice in substantially in the form attached as
Exhibit B to the Grant Notice (or such other form as is prescribed by the Administrator, which may be an electronic form) (the “Exercise Notice”) signed by Participant or any other person then entitled to exercise the
Option or portion thereof, stating that the Option or portion thereof is thereby exercised, such Exercise Notice complying with all applicable rules established by the Administrator; and 

  
 A-1 

 (ii)    Subject to Section 5(f) of
the Plan, full payment for the Shares with respect to which the Option or portion thereof is exercised by: 

(A)    Cash, wire transfer of immediately available funds or check, payable to the order
of the Company; or 
 (B)    With the consent of the Administrator, surrendering shares
of Common Stock then issuable upon exercise of the Option valued at their Fair Market Value on the date of exercise; or 

(C)    If the Company is a Publicly Listed Company, unless the Administrator otherwise
determines, through the (A) delivery of an irrevocable and unconditional undertaking by a broker acceptable to the Company to deliver promptly to the Company sufficient funds to pay the exercise price, or (B) delivery by the Participant to
the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company cash or a check sufficient to pay the exercise price, provided in either case, that such amount is paid to
the Company at such time as may be required by the Administrator; or 
 (D)    With the
consent of the Administrator, any other form of payment permitted under Section 5(f) of the Plan; or 

(E)    Any combination of the above permitted forms of payment; and 

(iii)    Subject to Section 9(e) of the Plan, full payment for any applicable
withholding taxes in cash, by wire transfer of immediately available funds or by check or in any form of consideration permitted by the Administrator for the payment of the exercise price pursuant to Section 3(c)(ii) above or pursuant to
Section 3(d) below; and 
 (iv)    In the event the Option or portion thereof shall
be exercised pursuant to Section 3.1 by any person or persons other than Participant, appropriate proof of the right of such person or persons to exercise the Option. 

(d)    Tax Withholding. The Company shall have the authority and the right to deduct or withhold,
or require Participant to remit to the Company, an amount sufficient to satisfy federal, state, local and foreign taxes (including Participant’s employment tax obligation) required by Applicable Law to be withheld with respect to any taxable
event concerning Participant arising as a result of the Option or otherwise under this Agreement, including, without limitation, the authority to deduct such amounts from other compensation payable to Participant by the Company. 

(e)    Fractional Shares. The Option may only be exercised for whole shares of Common Stock. Any
fractional Shares shall be rounded down to the nearest whole share. 
 (f)    Special Tax
Consequences. If the Option is intended to be an Incentive Stock Option, Participant acknowledges that, to the extent that the aggregate fair market value (determined as of the time the Option is granted) of all Shares with respect to which
Incentive Stock Options, including, without limitation, the Option, are first exercisable for the first time by Participant in any calendar year exceeds $100,000 (or such other limitation as imposed by Section 422(d) of the Code), the Option
and such other options (or the applicable portion thereof) shall be treated as not qualifying under Section 

  
 A-2 

 
422 of the Code but rather shall be considered Non-Qualified Stock Options. Participant further acknowledges that the rule set forth in the preceding
sentence shall be applied by taking Options and other “incentive stock options” into account in the order in which they were granted. 

4.    Expiration of Option. The Option may not be exercised to any extent by anyone after
the first to occur of the following events: 
 (a)    The Expiration Date set forth in the Grant Notice;

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

(c)    The expiration of one year following the date of Participant’s Termination of Service by
reason of Participant’s death or Disability; 
 (d)    The date of Participant’s Termination
of Service as a result of Participant’s discharge by the Company for Cause; or 
 (e)    With
respect to any unvested portion of the Option, the date that is thirty days following Participant’s Termination of Service for any reason other than as a result of Participant’s discharge by the Company for Cause, or such shorter period as
may be determined by the Administrator. 
 Participant acknowledges that an Incentive Stock Option exercised more than three
months after Participant’s termination of status as an Employee, other than by reason of death or Disability, will be taxed as a Non-Qualified Stock Option. 

5.    Transferability. The Option shall not be sold, assigned, transferred, pledged or
otherwise encumbered by Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the life of the Participant, the Option shall be exercisable only by the Participant. 

6.    Restrictive Legends and Stop-Transfer
Orders. 
 (a) Legends. Participant understands and agrees that the Company shall cause any certificates
issued evidencing the Shares to have the legends set forth below or legends substantially equivalent thereto, together with any other legends that may be required by Applicable Laws: 

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

  
 A-3 

 THE SHARES REPRESENTED BY THIS CERTIFICATE MAY BE
TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. SUCH TRANSFER RESTRICTIONS ARE BINDING ON TRANSFEREES OF THESE SHARES. 

(b)    Stop Transfer Orders. Participant agrees that, in order to ensure compliance with the
restrictions referred to in the Plan and this Agreement, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations
to the same effect in its own records. 
 (c)    Impermissible Transfers Void. The Company
shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or
pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred. Any transfer or attempted transfer of the Option or any of the Restricted Shares not in accordance with the terms of this Agreement shall be void.

 7.    Taxes. Participant understands that Participant may suffer adverse tax
consequences as a result of Participant’s purchase or disposition of the Shares. Participant represents that Participant has consulted with any tax consultants Participant deems advisable in connection with the purchase or disposition of the
Shares and that Participant is not relying on the Company for any tax advice. Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. Participant understands that Participant
(and not the Company) shall be responsible for Participant’s tax liability that may arise as a result of the transactions contemplated by this Agreement. 

8.    Miscellaneous. 

(a) No Right To Employment or Other Status. No person shall have any claim or right to be granted an Award, and the
grant of an Award shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company. The Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship
with a Participant free from any liability or claim under the Plan or this Agreement. 
 (b) Notices. Any notice to
be given under the terms of this Agreement to the Company shall be addressed to the Company in care of the Secretary of the Company at the Company’s principal executive offices, and any notice to be given to Participant shall be addressed to
Participant at the most-recent physical or email address for Participant listed in the Company’s personnel records. By a notice given pursuant to this Section 8(b), either party may hereafter designate a different address for notices to be
given to that party. Any notice which is required to be given to Participant shall, if Participant is then deceased, be given to the person entitled to exercise his or her Option by written notice under this Section 8(b). Any notice shall be
deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service. 

(c) Successors and Assigns. The Company may assign any of its rights under this Agreement and the Exercise Notice to
single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set 

  
 A-4 

 
forth, this Agreement shall be binding upon Participant and his or her heirs, executors, administrators, successors and assigns. 

(d) Severability. In the event any portion of the Plan or this Agreement or any action taken pursuant thereto shall be
held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan and this Agreement, and the Plan and this Agreement shall be construed and enforced as if the illegal or invalid provisions had not
been included, and the illegal or invalid action shall be null and void. 
 (e) Entire Agreement; Governing
Documents. The Plan, the Grant Notice and this Agreement (including all Exhibits thereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with
respect to the subject matter hereof. In the event of any contradiction between the Plan and this Agreement or any other written agreement between a Participant and the Company that has been approved by the Administrator, the terms of the Plan shall
govern. Participant hereby agrees to execute such further instruments and to take such further action as the Company requests to carry out the purposes and intent of this Agreement and the Plan, including, without limitation, restrictions on the
transferability of shares of Common Stock, the right of the Company to repurchase shares of Common Stock, the right of the Company to require that shares of Common Stock be transferred in the event of certain transactions, tag-along rights, bring-along rights, redemption and co-sale rights and voting requirements in accordance with Section 10(o) of the Plan. 

(f) Governing Law. The provisions of the Plan and all Awards made thereunder, including the Option, shall be governed
by and interpreted in accordance with the laws of the State of Delaware, disregarding choice-of-law principles of the law of any state that would require the application
of the laws of a jurisdiction other than such state. 
 (g) Titles and Headings. The titles and headings of the
Sections in this Agreement are for convenience of reference only and, in the event of any conflict, the text of this Agreement, rather than such titles or headings, shall control. 

  
 A-5 

 EXHIBIT B 

TO STOCK OPTION GRANT NOTICE 

FORM OF EXERCISE NOTICE 

Effective as of today,
                ,
                , the undersigned (“Participant”) hereby elects to exercise Participant’s option to
purchase                  Shares of Icosavax, Inc. (the “Company”) under and pursuant to the Icosavax,
Inc. 2017 Equity Incentive Plan (the “Plan”) and the Stock Option Grant Notice and Stock Option Agreement dated
                ,                  (the
“Agreement”). Capitalized terms used herein without definition shall have the meanings given in the Agreement. 
  

					
	 Grant Date:
	  	  
	  	
			
	 Number of Shares as to which Option is Exercised:
	  	  
	  	
			
	 Exercise Price per Share:
	  	
$                    
	  	
			
	 Total Exercise Price:
	  	
$                    
	  	
			
	 Certificate to be issued in name of:
	  	  
	  	
			
	 Cash Payment delivered herewith:
	  	
$                    
(Representing the full Exercise Price for the Shares, as well as any applicable withholding tax)
	  	

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

1.    Representations of Participant. Participant acknowledges that Participant has
received, read and understood the Plan and the Agreement. Participant agrees to abide by and be bound by their terms and conditions. 

2.    Tax Consultation. Participant understands that Participant may suffer adverse tax
consequences as a result of Participant’s purchase or disposition of the Shares. Participant represents that Participant has consulted with any tax consultants Participant deems advisable in connection with the purchase or disposition of the
Shares and that Participant is not relying on the Company for any tax advice. Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. Participant understands that Participant
(and not the Company) shall be responsible for Participant’s tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. 

3.    Participant Representations. Participant hereby makes the following certifications and
representations with respect to the Shares listed above: 
 (a) Participant is aware of the Company’s business affairs
and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Shares. Participant is acquiring these Shares for investment for Participant’s own account only and
not with a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act. 

(b) Participant acknowledges and understands that the Shares constitute “restricted securities” under the Securities
Act and have not been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature 

 
of Participant’s investment intent as expressed herein. Participant understands that the Shares must be held indefinitely unless they are subsequently registered under the Securities Act or
an exemption from such registration is available. Participant further acknowledges and understands that the Company is under no obligation to register the Shares. Participant understands that the certificate evidencing the Shares will be imprinted
with a legend which prohibits the transfer of the Shares unless they are registered or such registration is not required in the opinion of counsel satisfactory to the Company and any other legend required under Applicable Laws. 

(c) Participant is familiar with the provisions of Rule 701 and Rule 144, each promulgated under the Securities Act,
which, in substance, permit limited public resale of “restricted securities” acquired, directly or indirectly from the issuer thereof, in a non-public offering subject to the satisfaction of certain
conditions. In the event the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, ninety days thereafter (or such longer period as any market stand-off
agreement may require) the securities exempt under Rule 701 may be resold, subject to the satisfaction of certain of the conditions specified by Rule 144. 

(d) In the event that the Company does not qualify under Rule 701 at the time of grant of the Option, then the securities
may be resold in certain limited circumstances subject to the provisions of Rule 144. 
 (e) Participant further
understands that in the event all of the applicable requirements of Rule 701 or 144 are not satisfied, registration under the Securities Act, compliance with Regulation A, or some other registration exemption will be required; and that,
notwithstanding the fact that Rules 144 and 701 are not exclusive, the Staff of the Securities and Exchange Commission has expressed its opinion that persons proposing to sell private placement securities other than in a registered offering and
otherwise than pursuant to Rules 144 or 701 will have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales, and that such persons and their respective brokers who participate in such
transactions do so at their own risk. Participant understands that no assurances can be given that any such other registration exemption will be available in such event. 

4.    Further Instruments. Participant hereby agrees to execute such further instruments and
to take such further action as the Company requests to carry out the purposes and intent of this Agreement and the Plan, including, without limitation, restrictions on the transferability of shares of Common Stock, the right of the Company to
repurchase shares of Common Stock, the right of the Company to require that shares of Common Stock be transferred in the event of certain transactions, tag-along rights, bring-along rights, redemption and co-sale rights and voting requirements in accordance with Section 10(o) of the Plan. 

5.    Notices. Any notice required or permitted hereunder shall be given in accordance with
the provisions set forth in Section 8(b) of the Agreement. 
 6.    Entire Agreement.
The Plan and Agreement are incorporated herein by reference. This Notice, the Plan and the Agreement constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant
with respect to the subject matter hereof. 

  
 B-2 

									
	 ACCEPTED BY: 

ICOSAVAX, INC.
	 		 	 SUBMITTED BY

PARTICIPANT:

					
	 By:
	 	  
	 		 	 By:
	 	  

	 Print Name:
	 	  
	 		 	 Print Name:
	 	  

	 Title:
	 	  
	 		 		 	

  
 B-3

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