Document:

EX-10.4.1

 Exhibit 10.4.1 

LENSAR, INC. 
 2020
INCENTIVE AWARD PLAN 
 RESTRICTED STOCK GRANT NOTICE 

Capitalized terms not specifically defined in this Restricted Stock Grant Notice (the “Grant Notice”) have the
meanings given to them in the 2020 Incentive Award Plan (as amended from time to time, the “Plan”) of LENSAR, Inc. (the “Company”). 

The Company has granted to the participant listed below (“Participant”) the shares of Restricted Stock
described in this Grant Notice (the “Shares”), subject to the terms and conditions of the Plan and the Restricted Stock Agreement attached as Exhibit A (the “Agreement”), both of which are
incorporated into this Grant Notice by reference. 
  

			
	Participant:	  	
		
	Grant Date:	  	
		
	Total Number of Shares of Restricted Stock:	  	
		
	Target Percentage:	  	
		
	Vesting Schedules:	  	Section 1 - Release from Forfeiture Restriction:
		
		  	Subject to the “Excess Share Forfeiture Restriction” set forth below, the Shares shall vest and be released from the Forfeiture Restriction (as defined in Section 2.1 of the Agreement) as follows: (a)
40% of the Shares shall vest and be released from the Forfeiture Restriction on the date that is three months following the closing of the Spin-Off (or, if later, the date that is six months following the
Grant Date, provided the Spin-Off has occurred prior to such date), (b) 30% of the Shares shall vest and be released from the Forfeiture Restriction on the date that is eighteen months following the Grant Date, and (c) 30% of the Shares shall vest
and be released from the Forfeiture Restriction on the date that is twenty-four months following the Grant Date, in each case provided that Participant has not experienced a Termination of Service prior to each such vesting date.
		
		  	In addition, and notwithstanding the foregoing, all of the Shares shall vest and be released from the Forfeiture Restriction upon the earliest to occur of (a) a Change in Control, (b) Participant’s death,
(c) Participant’s Termination of Service by reason of Participant’s Disability, or (d) Participant’s Termination of Service by reason of discharge by the Company without Cause.
		
		  	Section 2 - Release from Excess Share Forfeiture Restriction:
		
		  	All of the Shares shall be subject to the Excess Share Forfeiture Restriction as of the Grant Date. The release of the Shares from the Excess Share Forfeiture Restriction shall be independent of the vesting and release of the Shares
from the Forfeiture Restriction as provided above.
		
		  	On the Measurement Date, the number of Shares, if any, by which (i) the total number of Shares issued pursuant to this Grant Notice plus all other shares of Common Stock held by Participant or his or her affiliate(s) exceeds
(ii) (A) the Target Percentage multiplied by (B) the Company’s Fully Diluted Capitalization on such date shall be considered the “Excess Shares;” provided

			
		  	that, if Participant or Participant’s affiliate(s) sell, transfer or otherwise dispose of any equity in the Company prior to the Measurement Date, the number of Shares pursuant to clause (i) above shall be calculated as if
such sale, transfer or other disposition had not occurred and as if Participant continued to own such shares. The Excess Shares shall be subject to forfeiture as provided in Section 2.2 of the Agreement pursuant to the “Excess Share
Forfeiture Restriction” (as defined in Section 2.2 of the Agreement). Following the application of the Excess Share Forfeiture Restriction, the remaining Shares subject to this Grant Notice and the Agreement shall remain eligible
to vest and be released from the Forfeiture Restriction thereafter as provided in Section 1 of the vesting schedule above, with such vesting to be calculated as if the Excess Shares had not been a part of this Award.
		
		  	As used herein, “Fully Diluted Capitalization” shall mean the sum of the following, each of which shall be measured as of the Measurement Date: (i) the number of issued and outstanding shares of Common
Stock (which, for purposes of this calculation, shall not include any Shares that are deemed “Excess Shares” under the Agreement or any similar agreement then in effect as to which “Excess Shares” will be determined as of the
Measurement Date), plus (ii) the number of issued and outstanding shares of the Company’s preferred stock, on an as-converted to Common Stock basis.
		
		  	As used herein, “Measurement Date” shall mean the earliest to occur of the following: (i) the date of the closing of the Spin-Off (and the Measurement Date for
purposes of determining the Excess Shares, if any, as of the date of such Spin-Off shall be deemed to have occurred immediately following the closing of the Spin-Off),
(ii) the date immediately prior to the pricing of a firm commitment underwriting of the Common Stock of the Company pursuant to a Registration Statement on Form S-1 filed with the Securities Exchange
Commission under the Securities Act, (iii) a termination of Participant’s full-time employment with the Company for any reason, or (iv) the date of a Change in Control (and the Measurement Date for purposes of determining the Excess
Shares, if any, as of the date of such Change in Control shall be deemed to have occurred immediately prior to the closing of such Change in Control).

 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 Plan, the Agreement 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 the Plan, this Grant Notice and the Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the
Plan, this Grant Notice or the Agreement. Participant shall also execute and deliver to the Company the stock assignment duly endorsed in blank, attached to this Grant Notice as Exhibit B (the “Stock Assignment”). If
Participant is married, his or her spouse has signed the Consent of Spouse attached to this Grant Notice as Exhibit C. As a condition to receipt of the Shares, Participant shall also sign a counterpart signature page to the LENSAR, Inc.
Stockholders Agreement (the “Stockholders Agreement”) to the extent Participant is not already a party to such agreement. 
  

									
	LENSAR, INC.	 		 	PARTICIPANT
					
	By:	 	  
	 		 	By:	 	  

	Print Name:	 	  
	 		 	Print Name:	 	  

	Title:	 	  
	 		 	State of Residence:	 	  

 EXHIBIT A 

RESTRICTED STOCK AGREEMENT 

Pursuant to the Grant Notice to which this Agreement is attached, the Company has granted to Participant the number of Shares indicated in the
Grant Notice under the Plan. The terms, conditions and definitions set forth in the Plan shall apply to the Award (including but not limited to the adjustment provisions contained in Section 8 of the Plan), and the Award shall be subject to
such terms, conditions and definitions, which are hereby incorporated into this Agreement by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control. Capitalized terms not specifically
defined in this Agreement have the meanings specified in the Grant Notice or, if not defined in the Grant Notice, in the Plan. 
 ARTICLE
I. 
 GRANT OF RESTRICTED STOCK. 

1.1 Grant of Restricted Stock. 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, which the Board has determined exceeds the par value per Share, effective as of the Grant Date set forth in the Grant Notice, the Company irrevocably
grants to Participant the Shares set forth in the Grant Notice, upon the terms and conditions set forth in the this Agreement. 
 1.2
Issuance of Shares. On the Grant Date, the Company shall issue the Shares to Participant and shall (i) cause a share certificate or certificates representing the Shares to be registered in the name of Participant, or
(ii) cause such Shares to be held in book entry form. If a share certificate is issued, it shall be delivered to and held in custody by the Company and shall bear the restrictive legends required by Section 3.4 below. If the Shares are
held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. 
 1.3 Rights as
a Stockholder. Except as otherwise provided herein, upon issuance of the Shares by the Company to Participant (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), Participant
shall have all the rights of a stockholder with respect to said Shares, including the right to receive any cash or stock dividends or other distributions paid to or made with respect to the Shares, subject to the restrictions described in the
following sentence, which restrictions shall lapse when the Unreleased Shares are released from the Forfeiture Restriction and/or the Excess Share Forfeiture Restriction as set forth in Article 2. Unless otherwise provided by the Board, if any
dividends or distributions are paid in cash or shares, or consist of a dividend or distribution to holders of Common Stock of property, the cash, shares or other property paid or made with respect to Unreleased Shares will be retained in custody by
the Company (without interest) (the “Retained Distributions”) and subject to the same forfeiture and transferability restrictions as the Unreleased Shares with respect to which they were paid or made and shall automatically
be forfeited to the Company for no consideration in the event of the forfeiture of the Unreleased Shares with respect to which they were paid pursuant to the Forfeiture Restriction or the Excess Share Forfeiture Restriction. Any Retained
Distributions held by the Company that were paid on those Unreleased Shares as to which the Forfeiture Restriction, Excess Share Forfeiture Restriction and transfer restrictions lapse or are removed shall also be released to Participant at the time
of such lapse or removal. In no event shall a Retained Distribution be paid with respect to Unreleased Shares later than the end of the calendar year in which the corresponding dividends or distributions are paid to holders of Common Stock or, if
later, the 15th day of the third month following the later of (i) the date the dividends or distributions are paid to holders of Common Stock and (ii) the date the Unreleased Shares with respect to which the Retained Distributions are paid
vest. Participant shall enjoy rights as a stockholder until such time as Participant disposes of the Shares or the Company and/or its 

 
assignee(s) exercises the Right of First Refusal under the Plan. Upon such exercise, Participant shall have no further rights as a holder of the Shares except the right to receive payment for the
Shares so purchased in accordance with the provisions of this Agreement, and Participant shall forthwith cause the certificate(s), if any issued, evidencing the Shares so purchased to be surrendered to the Company for transfer or cancellation. 

ARTICLE II. 
 FORFEITURE
RESTRICTIONS 
 2.1 Forfeiture Restrictions. Subject to the provisions of Section 2.3 below, in the event of
Participant’s Termination of Service for any reason, all of the Shares which, from time to time, have not yet been released from the Forfeiture Restriction (other than any Shares that may be Excess Shares, which shall be subject to forfeiture
under Section 2.2 below), shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such forfeiture, the Company shall become the legal
and beneficial owner of the Unreleased Shares (as defined below) so forfeited, and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares
being forfeited by Participant. 
 2.2 Excess Share Forfeiture Restrictions. Subject to the provisions of Section 2.3 below, on
the Measurement Date, the Excess Shares (as defined in the Grant Notice) shall thereupon be forfeited immediately and without any further action by the Company (the “Excess Share Forfeiture Restriction”). Upon the occurrence
of such forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares (as defined below) so forfeited, and all rights and interests therein or relating thereto, and the Company shall have the right to retain and
transfer to its own name the number of Unreleased Shares being forfeited by Participant. 
 2.3 Release of Shares from Restrictions.
Any Shares that have not yet been released from both the Forfeiture Restriction and the Excess Share Forfeiture Restriction, together with and any Retained Distributions paid thereon pursuant to Section 1.3 and held by the Company, are referred
to herein as the “Unreleased Shares.” The Unreleased Shares shall be released from the Forfeiture Restriction and the Excess Share Forfeiture Restriction in accordance with the vesting schedules set forth in the Grant Notice.
The Unreleased Shares shall be held by the Company in accordance with Section 3 until the Shares are forfeited as provided in Section 2.1 or Section 2.2(b), until such Unreleased Shares are fully released from both the Forfeiture
Restriction and the Excess Share Forfeiture Restriction, or until such time as this Agreement no longer is in effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the Board, to transfer
the Unreleased Shares and/or the Excess Shares, as applicable, which have been forfeited pursuant to Section 2.1 or Section 2.2 from Participant to the Company. As soon as administratively practicable following the release of any
Unreleased Shares from both the Forfeiture Restriction and the Excess Share Forfeiture Restriction, the Company shall, as applicable, either deliver to Participant the certificate or certificates representing such Shares in the Company’s
possession belonging to Participant, or, if the Shares are held in book entry form, then the Company shall remove the notations on the book form. Participant (or the beneficiary or personal representative of Participant in the event of
Participant’s death or incapacity, as the case may be) shall deliver to the Company any representations or other documents or assurances as the Company or its representatives deem necessary or advisable in connection with any such delivery.

 2.4 Escrow. To insure the availability for delivery of the Unreleased Shares in the event of the application of the Forfeiture
Restriction, or the Excess Shares in the event of the application of the Excess Share Forfeiture Restriction, Participant appoints the Secretary of the Company, or such other person designated by the Board from time to time as escrow agent, as its attorney-in-fact to sell, assign and transfer unto the Company, such Unreleased Shares or Excess Shares, if any, forfeited pursuant to the Forfeiture

  
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Restriction or the Excess Share Forfeiture Restriction, as applicable, together with any Retained Distributions paid thereon pursuant to Section 1.2 and held by the Company, and shall
deliver and deposit with the Secretary of the Company, or such other person designated by the Board from time to time, the share certificate(s) representing the Shares, together with the Stock Assignment. The Unreleased Shares and Stock Assignment
(and any Retained Distributions) shall be held by the Secretary, or such other person designated by the Board from time to time, in escrow, until the Unreleased Shares are forfeited as provided in Article 2, until such Unreleased Shares are fully
released from both the Forfeiture Restriction and the Excess Share Forfeiture Restriction, as applicable, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares from both the Forfeiture Restriction and the
Excess Share Forfeiture Restriction, the escrow agent shall as soon as reasonably practicable deliver to Participant the certificate or certificates representing such Shares in the escrow agent’s possession belonging to Participant, and the
escrow agent shall be discharged of all further obligations hereunder. The Company, or its designee, shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares (or any Retained Distributions) in escrow and
while acting in good faith and in the exercise of its judgment. 
 ARTICLE III. 

RESTRICTIONS ON SHARES 

3.1 Transferability. Except as otherwise permitted by the Board, the Unreleased Shares are subject to the restrictions on transfer in
the Plan and may not be sold, assigned or transferred in any manner. Any attempted transfer or disposition of Unreleased Shares or related Retained Distributions prior to the time the Unreleased Shares are released form the Forfeiture Restriction
and the Excess Share Forfeiture Restriction will be null and void. The Company will not be required to (i) transfer on its books any Unreleased Share that has been sold or otherwise transferred in violation of this Agreement or (ii) treat
as owner of such Unreleased Share or accord the right to vote or pay dividends to any purchaser or other transferee to whom such Unreleased Share has been so transferred. 

3.2 Right of First Refusal. Participant acknowledges that the Shares are subject to a Right of First Refusal pursuant to the
Company’s Bylaws, a copy of which is available from the Secretary of the Company, and shall further be subject to the Right of First Refusal set forth in the Plan as if such provision were fully set forth herein. 

3.3 Restrictions on Shares; Claw-Back Provisions. The Shares shall be subject to the provisions of Section 10.14 of the Plan as if
such provision were fully set forth herein. 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 such section, 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 such section. 

3.4 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 

  
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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. 

THE SHARES REPRESENTED BY THIS CERTIFICATE MAY BE SUBJECT TO FORFEITURE AND/OR REPURCHASE PURSUANT TO, AND 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 FORFEITURE, REPURCHASE AND/OR 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 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 Shares not in accordance with the terms of this Agreement shall be void. 

ARTICLE IV. 
 TAXES

 4.1 Tax Consequences of Award. Participant understands that Participant may suffer adverse tax consequences as a result of
Participant’s receipt of, vesting in or disposition of the Shares. Participant represents that Participant has consulted with any tax consultants or personal advisors Participant deems advisable in connection with the receipt of the Shares and
that Participant is not relying on the Company for any tax or other 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. 

4.2 Section 83(b) Election for Unreleased Shares. Participant acknowledges that, unless an election is filed by Participant with the
Internal Revenue Service and, if necessary, the proper state taxing authorities, within thirty days of the Grant Date, electing pursuant to Section 83(b) of the Code (and similar state tax provisions if applicable) to be taxed currently on
their Fair Market Value on the date of issuance, there will be a recognition of taxable income to Participant equal to the Fair Market Value of the Unreleased Shares at the time the restrictions thereon lapse. Participant represents that Participant
has consulted any tax consultants or personal advisors Participant deems advisable in connection with the filing of the election under Section 83(b) of the Code and similar tax provisions. 

  
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 PARTICIPANT ACKNOWLEDGES THAT IT IS PARTICIPANT’S SOLE RESPONSIBILITY AND NOT THE
COMPANY’S TO TIMELY FILE THE ELECTION UNDER SECTION 83(B) OF THE CODE, AND THE COMPANY AND ITS REPRESENTATIVES SHALL HAVE NO OBLIGATION OR AUTHORITY TO MAKE THIS FILING ON PARTICIPANT’S BEHALF. 

4.3 Tax Withholding. 

(a) 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
grant or vesting of the Shares or otherwise under this Agreement, including, without limitation, the authority to deduct such amounts from other compensation payable to Participant by the Company. 

(b) Participant acknowledges that Participant is ultimately liable and responsible for all taxes owed in connection with the Shares,
regardless of any action the Company or any Subsidiary takes with respect to any tax withholding obligations that arise in connection with the Shares (the “Tax Withholding Obligation”). 

(c) (i) Notwithstanding anything to the contrary contained in the Plan or this Section 4.3, unless the Company makes a Withhold to Cover
Election (as described below), following the Public Trading Date, any Tax Withholding Obligation shall automatically, and without further action by Participant, be satisfied through a mandatory sale of Shares arranged by the Company and its
designated broker (together with any other party the Company determines necessary to execute the transactions described herein, the “Agent”) on Participant’s behalf. In the event Participant’s Tax Withholding
Obligation will be satisfied under this Section 4.3(c), then the Agent shall sell on Participant’s behalf such whole number of Shares subject to this Award as is required to generate cash proceeds sufficient to satisfy Participant’s
Tax Withholding Obligation, plus all applicable fees and commissions or other costs due to, or required to be collected by, the Agent with respect to such sale (with such Tax Withholding to be calculated based on Participant’s Applicable Tax
Withholding Rate (as defined below)) (a “Sell to Cover”). 
 (ii) Participant acknowledges that the instruction to
the Agent to sell Shares pursuant to this Section 4.3(c) is intended to comply with the requirements of Rule 10b5-1(c)(1)(i)(B) under the Exchange Act and to be interpreted to comply with the requirements
of Rule 10b5-1(c)(1) under the Exchange Act (the “10b5-1 Arrangement”). Participant hereby appoints the Company as Participant’s agent and attorney-in-fact to instruct the Agent with respect to the number of Shares to be sold under this 10b5-1 Arrangement. Any Sell to Cover
will be further subject to Section 10.18 of the Plan. Participant hereby acknowledges that the Agent is under no obligation to arrange for such sale at any particular price and that the proceeds of any such sale may not be sufficient to
satisfy the Tax Withholding Obligation. 
 (iii) Participant acknowledges that it may not be possible to sell Shares during the term of
this 10b5-1 Arrangement due to (A) a legal or contractual restriction applicable to Participant or to the Agent, (B) a market disruption, (C) rules governing order execution priority on the
stock exchange on which the Shares are traded, (D) a sale effected pursuant to this 10b5-1 Arrangement that fails to comply (or in the reasonable opinion of counsel to the Company or the Agent is likely
not to comply) with Rule 144 under the Securities Act or would result in a short-swing profit under Section 16 of the Exchange Act, or (E) the Company’s determination that sales may not be effected under this 10b5-1 Arrangement. 
 (iv) This 10b5-1 Arrangement shall
terminate on the earliest of: (A) the date on which all Tax Withholding Obligations arising in connection with the Shares have been satisfied; (B) 

  
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forfeiture of the Shares pursuant to Article II; (C) the date of Participant’s death; or (D) as soon as practicable after (but in no event later than the end of the next business
day following) the announcement of (1) a tender or exchange offer for shares of Common Stock by the Company or any other person, or (2) a merger, acquisition, recapitalization or comparable transaction as a result of which Common Stock is
to be exchanged or converted into shares of another company. 
 (v) Participant represents that (A) Participant is not presently aware
of any material nonpublic information about the Company or its securities; (B) Participant is entering into this Agreement and the 10b5-1 Arrangement in good faith and not as part of a plan or scheme to
evade the prohibitions of Rule 10b5-1 or any other provision of any federal, state or foreign securities laws or regulations; (C) Participant shall have full responsibility for compliance with
(1) any reporting requirements under Rule 144 under the Securities Act and Section 13 or 16 of the Exchange Act, (2) the short-swing profit recovery provisions under Section 16 of the Exchange Act, and (3) any federal, state
or foreign securities laws or regulations concerning trading while aware of material nonpublic information; and (D) Participant is aware that in order for this 10b5-1 Arrangement to constitute an
instruction pursuant to Rule 10b5-1(c), Participant must not alter or deviate from the terms of the instruction in this Section 4.3(c) (whether by changing the amount, price, or timing of any purchase or
sale hereunder), exercise any subsequent discretion over the terms hereof or enter into or alter a corresponding or hedging transaction with respect to the Common Stock to be sold pursuant to this instruction or any securities convertible into or
exchangeable for such Common Stock. 
 (vi) Participant acknowledges that this 10b5-1 Arrangement
is subject to the terms of any policy adopted now or hereafter by the Company governing the adoption of 10b5-1 plans. Participant’s acceptance of the Award constitutes the Participant’s instruction
and authorization to the Company and any Agent to complete the transactions described in this Section 4.3(c). 
 (d) Notwithstanding
the foregoing, to the maximum extent permitted by Applicable Laws, for any date on which a Tax Withholding Obligation arises, the Company, upon approval of the Administrator, may elect to override the automatic Sell to Cover method described in
Section 4.3(c) above or a commitment under a previously established Company-approved 10b5-1 plan, and to instead satisfy all or any portion of the Tax Withholding Obligation by retaining Shares from
Participant with a fair market value equal to the Tax Withholding Obligation based on Participant’s Applicable Tax Withholding Rate (a “Withhold to Cover Election”). In the event Participant’s Tax Withholding
Obligation will be satisfied pursuant to a Withhold to Cover Election, then the Company, upon approval of the Administrator, may elect (in lieu of simply retaining the Shares) to instruct the Agent to execute a Sell to Cover of such Shares on
Participant’s behalf. Participant’s acceptance of this Award constitutes Participant’s instruction and authorization to the Company and the Agent to complete the transactions described in the previous sentence, as applicable. To
the maximum extent permitted by law, the Company has the right to satisfy the Tax Withholding Obligation by making the Withhold to Cover Election, but shall be under no obligation to do so. 

(e) For purposes of this Agreement, “Applicable Tax Withholding Rate” means2 (i) if Participant is subject to Section 16 of the Exchange Act, [the greater of (A)] Participant’s minimum applicable statutory tax withholding rate [or (B) with
Participant’s consent,] the maximum individual tax withholding rate permitted under the rules of the applicable taxing authority for tax withholding attributable to the underlying transaction, or (ii) if Participant is not subject to
Section 16 of the Exchange Act, Participant’s minimum applicable statutory tax withholding rates or such other higher rates approved by 

  
  

	2 	 NTD: Withholding rate (at statutory minimum or based on W-4, if higher)
to be confirmed. For directors/consultants, if automatic Sell to Cover is desired, a fixed percentage will need to be inserted as tax withholding rates do not apply. 

  
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the Company; provided, however, that in no event shall Participant’s Tax Withholding Rate exceed the maximum individual statutory tax rate in the applicable jurisdiction at the
time of such withholding (or such other rate as may be required to avoid the liability classification of the Award under generally accepted accounting principles in the United States of America); provided, further, that the number of
Shares withheld by the Company to satisfy the Tax Withholding Obligation shall be rounded up to the nearest whole Share to the extent rounding up to the nearest whole Share does not result in the liability classification of the applicable award
under generally accepted accounting principles in the United States of America. 
 (f) The Company will determine the fair market value of
the Shares for purposes of this Section 4.3 using such methodology as may be required by Applicable Laws or as appropriate for administrative reasons, which fair market value may not be the same as the price Participant receives for the Shares
to be sold on Participant’s behalf pursuant to the Sell to Cover. 
 ARTICLE V. 

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 issuance of the Shares, 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 

  
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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. 

ARTICLE VI. 

MISCELLANEOUS. 
 6.1
Adjustments. Participant acknowledges that the Restricted Shares are subject to adjustment, modification and termination in certain events as provided in this Agreement and the Plan. 

6.2 Notices. Any notice to be given under the terms of this Agreement to the Company must be in writing and addressed to the Company in
care of the Company’s Secretary at the Company’s principal office or the Secretary’s then-current email address or facsimile number. Any notice to be given under the terms of this Agreement to Participant must be in writing and
addressed to Participant at Participant’s last known mailing address, email address or facsimile number in the Company’s personnel files. By a notice given pursuant to this Section, either party may designate a different address for
notices to be given to that party. Any notice will be deemed duly given when actually received, when sent by email, 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, when delivered by a nationally recognized express shipping company or upon receipt of a facsimile transmission confirmation. 

6.3 Governing Law. The provisions of this Agreement, including the Shares, 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. 
 6.4 Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or
construction of this Agreement. 
 6.5 Conformity to Securities Laws. Participant acknowledges that the Plan, the Grant Notice and
this Agreement are intended to conform to the extent necessary with all Applicable Laws and, to the extent Applicable Laws permit, will be deemed amended as necessary to conform to Applicable Laws. 

6.6 Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this
Agreement will inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth in this Agreement or the Plan, this Agreement will be binding upon and inure to the benefit of the heirs, legatees,
legal representatives, successors and assigns of the parties hereto. 
 6.7 Limitations Applicable to Section 16
Persons. Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, the Plan, the Grant Notice, this Agreement and the Restricted Shares will be subject to any additional
limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3) that are requirements for the application of such exemptive rule. To the
extent Applicable Laws permit, this Agreement will be deemed amended as necessary to conform to such applicable exemptive rule. 

  
 A-8 

 6.8 Entire Agreement. The Plan, the Grant Notice and this Agreement (including any
exhibit hereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof. 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, including, without limitation, restrictions on the transferability of shares of Common Stock, the right of the
Company to reacquire or 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 this Agreement. 

5.8 Agreement Severable. In the event that any provision of the Grant Notice or this Agreement is held illegal or invalid, the
provision will be severable from, and the illegality or invalidity of the provision will not be construed to have any effect on, the remaining provisions of the Grant Notice or this Agreement. 

5.9 Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided.
This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant will have
only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Award. 

5.10 Not a Contract of Employment. Nothing in the Plan, the Grant Notice or this Agreement confers upon Participant any right to
continue in the employ or service of the Company or any Subsidiary or interferes with or restricts in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the services of
Participant at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the Company or a Subsidiary and Participant. 

5.11 Counterparts. The Grant Notice may be executed in one or more counterparts, including by way of any electronic signature, subject
to Applicable Law, each of which will be deemed an original and all of which together will constitute one instrument. 

  
 A-9 

 EXHIBIT B 

TO STOCK OPTION GRANT NOTICE 

STOCK ASSIGNMENT 
 [See
instructions below] 
 FOR VALUE RECEIVED I,
                    , hereby sell, assign and transfer unto
                     the shares of the Common Stock of LENSAR, Inc. registered in my name on the books of said corporation represented by
Certificate No.          and do hereby irrevocably constitute and appoint                     
to transfer the said stock on the books of the within named corporation with full power of substitution in the premises. 
 This Assignment
Separate from Certificate may be used only in accordance with the Restricted Stock Grant Notice and Restricted Stock Agreement between LENSAR, Inc. and the undersigned dated [●], 2020.  

Dated:
                             ,
                 
  

			
	Signature:	 	  

	Print Name:	 	  

 INSTRUCTIONS: Please do not fill in any blanks other than the signature line. The purpose of this assignment
is to enable the Company to enforce the Forfeiture Restriction and/or the Excess Share Forfeiture Restriction, as set forth in the Restricted Stock Grant Notice and Restricted Stock Agreement, without requiring additional signatures on the part of
Participant. 

  
 B-1 

 EXHIBIT C 

TO RESTRICTED STOCK GRANT NOTICE 

CONSENT OF SPOUSE 
 I,
                    , spouse of
                    , have read and approve the foregoing Restricted Stock Grant Notice and Restricted Stock Agreement dated
                    ,         , between my spouse and LENSAR, Inc. In consideration of issuing
to my spouse the shares of the Common Stock of LENSAR, Inc. set forth in the Restricted Stock Grant Notice and Restricted Stock Agreement, I hereby appoint my spouse as my
attorney-in-fact in respect to the exercise of any rights under the Restricted Stock Grant Notice and Restricted Stock Agreement and agree to be bound by the provisions
of the Restricted Stock Grant Notice and Restricted Stock Agreement insofar as I may have any rights in said Agreement or any shares issued pursuant thereto under the community property laws or similar laws relating to marital property in effect in
the state of our residence as of the date of the signing of the Restricted Stock Grant Notice and Restricted Stock Agreement. 
  

									
	Dated:                    ,         	 		 		 	Signature of Spouse:	 	  

 FORM OF 83(B) ELECTION AND INSTRUCTIONS 

These instructions are provided to assist you if you choose to make an election under Section 83(b) of the Internal Revenue Code, as
amended, with respect to the shares of common stock of LENSAR, Inc. transferred to you. Please consult with your personal tax advisor as to whether an election of this nature will be in your best interests in light of your personal tax
situation. 
 The executed original of the Section 83(b) election must be filed with the Internal Revenue Service not later than 30
days after the date the shares were transferred to you. There is no remedy for failure to file on time. The steps outlined below should be followed to ensure the election is mailed and filed correctly and in a timely manner. If you make
the Section 83(b) election, the election is irrevocable. 
 Complete the Section 83(b) election form (attached
as Attachment 1) and make four (4) copies of the signed election form. Your spouse, if any, should sign the Section 83(b) election form as well. 

Prepare the cover letter to the Internal Revenue Service (sample letter attached as Attachment 2). 

Send the cover letter with the originally executed Section 83(b) election form and one (1) copy via certified mail, return receipt
requested to the Internal Revenue Service at the address of the Internal Revenue Service where you file your personal tax returns. We suggest that you have the package date-stamped at the post office. The post office will provide you with a
certified receipt that includes a dated postmark. Enclose a self-addressed, stamped envelope so that the Internal Revenue Service may return a date-stamped copy to you. However, your postmarked receipt is your proof of having timely filed the
Section 83(b) election if you do not receive confirmation from the Internal Revenue Service. 
 One (1) copy must be sent to
LENSAR, Inc. for its records. 
 Retain the Internal Revenue Service file stamped copy (when returned) for your records. 

Please consult your personal tax advisor for the address of the office of the Internal Revenue Service to which you should mail your election
form. 

  
 A-2 

 ATTACHMENT 1 

ELECTION UNDER INTERNAL REVENUE CODE SECTION 83(B) 

The undersigned taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to include in
taxpayer’s gross income for the current taxable year the amount of any compensation taxable to taxpayer in connection with taxpayer’s receipt of shares (the “Shares”) of Common Stock of LENSAR, Inc., a Delaware
corporation (the “Company”). 
 The name, address and taxpayer identification number of the undersigned taxpayer are: 

 

					
	  
	  	
	  
	  	
	  
	  	
			
	SSN:	 	  
	  	

 The name, address and taxpayer identification number of the Taxpayer’s spouse are (complete if
applicable): 
  

					
	  
	  	
	  
	  	
	  
	  	
			
	SSN:	 	  
	  	

 Description of the property with respect to which the election is being made: 

                     shares of Common
Stock of the Company. 
 The date on which the property was transferred was [●], 2020. The taxable year to which this election relates is calendar
year 2020. 
 Nature of restrictions to which the property is subject: 

The Shares are subject to forfeiture upon the occurrence of certain events. This forfeiture restriction lapses based upon the continued
performance of services by the taxpayer over time or upon performance conditions related to the issuer of the Shares. 
 The fair market value at the time
of transfer (determined without regard to any lapse restrictions, as defined in Treasury Regulation Section 1.83-3(i)) of the Shares was $[●] per Share. 

The amount paid by the taxpayer for the Shares was $[●] per share. 

A copy of this statement has been furnished to the Company. 
  

									
	Dated:	 	  
	 		 	Taxpayer Signature	 	  

 The undersigned spouse of Taxpayer joins in this election. (Complete if applicable). 

 

									
	Dated:	 	  
	 		 	Spouse’s SignatureEX-10.10

 Exhibit 10.10 

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and
would likely cause competitive harm to the registrant if publicly disclosed. 
 CONFIDENTIAL INFORMATION 

EXCLUSIVE LICENSE AGREEMENT 

Between 
 DOUG PATTON
AND OPTHALMIC SYNERGIES, LLC 
 and 

LENSAR, Inc. 
 This
Exclusive License Agreement (the “Agreement”) is effective as of September 23, 2019 (the “Effective Date”) by and between Doug Patton and Ophthalmic Synergies, a limited liability company organized under the laws of Nevada
and located at 3050 Pullman Street, Costa Mesa, CA 92626 (individually and collectively “LICENSOR”) and LENSAR Inc., a Delaware company having a principal place of business at 2800 Discovery Drive, Suite 100, Orlando, Florida 32836
(“LENSAR”). LICENSOR and LENSAR are referred to individually as a “Party” and collectively as the “Parties”. 

WHEREAS, LICENSOR is the owner of certain patent rights which relate to ophthalmic surgery machines and methods related thereto, including
patent rights which describe and claim combining a femtosecond laser and a phacoemulsification system; 
 WHEREAS, LICENSOR and LENSAR
desire to enter into an agreement under which LENSAR will obtain an exclusive right and license to develop, market and commercialize products comprising devices covered by LICENSOR’s patents under the terms and conditions set forth in this
Agreement. 
 NOW THEREFORE, in consideration of the foregoing premises and the mutual covenants herein contained, and for other good and
valuable consideration, the sufficiency of which is hereby acknowledged, LICENSOR and LENSAR hereby agree as follows: 
 ARTICLE
1.    DEFINITIONS 
 All references to Articles and Sections shall be referenced to the Articles and
Sections of this Agreement. Except as otherwise expressly provided herein, the following terms in this Agreement shall have the following meanings: 

1.1    “Affiliate” means, with respect to a particular Party, a person, corporation, partnership,
or other entity that controls, is controlled by or is under common control with such Party. For the purposes of the definition in this Section 1.1, the word “control” (including, with correlative meaning, the terms “controlled
by” or “under the common control with”) means the actual power, either directly or indirectly through one (1) or more intermediaries, to direct or cause the direction of the management and policies of such entity, whether by the
ownership of at least fifty percent (50%) of the voting stock of such entity, by contract or otherwise. 

1.2    “Controlled” means, with respect to patent rights, that LICENSOR or an Affiliate owns or
has a license or other right to such patent rights and has the ability to grant to LENSAR a license, sublicense, right or access to such patent rights as provided for in this Agreement without violating the terms of any agreement or other
arrangements with any Third Party existing at the time. 

  
 1 

 CONFIDENTIAL INFORMATION 

 

 1.3    “Femtosecond laser device” [***]. 

1.4    “Field” [***]. 

1.5    “First Commercial Sale” means the first sale of a Licensed Product for use by the general
public by LENSAR, its Affiliates or sublicensees, which Licensed Product is covered by a Valid Claim, to Third Persons following regulatory approval or clearance of the Licensed Product in the country where sold. 

1.6    “First U.S. Regulatory Approval” shall mean the first date upon which a Licensed Product,
which Licensed Product is covered by a Valid Claim, is approved or cleared for marketing by the Food and Drug Administration. 

1.7    “Invention(s)” means improvements, inventions, formulae, processes, techniques, devices,
machines, software, compilations, systems, know-how and data that are conceived, made, discovered or reduced to practice by, or on behalf of, LICENSOR, its Affiliates, employees, agents or subcontractors, and
all the intellectual property rights therein. 
 1.8    “Licensed Product(s)” [***]. 

1.9    “Licensed Patent Rights” means all Patents owned or Controlled, by LICENSOR or an
Affiliate, at, the Effective Date, or owned and or Controlled by LICENSOR or an Affiliate during the Term, including, but not limited to: 

[***] 
 and all Patents claiming priority thereto
or claiming common priority therewith, to the extent that such Patents disclose or claim Inventions in the Field or that are a Licensed Product. 

1.10    “Patent” means all: (a) unexpired patents, including any substitution, amendment,
extension, registration, reissue, re-examination, restoration, supplementary protection certificates, confirmation patents, patent of additions, renewal, inventor’s certificate or any like filing thereof;
and (b) patent applications, pending patent applications, including any continuation, division or continuation-in-part thereof, and any provisional, nonprovisional,
or other priority applications, including expired applications. 
 1.11    “Phacoemulsification
device” [***]. 
 1.12    “Third Person” means any entity that is not a Party, an
Affiliate, or any sublicensee thereof. 
 1.13    “Term” means until the last date on which a
Valid Claim exists or, if later, the final expiration of any pending but unissued Patents owned or Controlled by LICENSOR or an Affiliate thereof. A Valid Claim shall exist for the purpose of this Section 1.13 until the final date on which it
is enforceable, including any extensions or adjustments, and including the period after expiration of any corresponding patent during which such patent can be enforced against Third Parties. 

  
 Page 2 of 12 

 CONFIDENTIAL INFORMATION 

 

 1.14    “Territory” means the entire world. 

1.15    “Valid Claim” means any issued or granted claim in any of the Licensed Patent Rights,
which claim has not been disclaimed or held unenforceable or invalid by a governmental agency or court of competent jurisdiction by a decision beyond right of review. 

ARTICLE 2.    LICENSES GRANT 

2.01    License Grants. Subject to the terms and conditions of this Agreement, LICENSOR hereby grants, and
LENSAR hereby accepts, an exclusive license under the Licensed Patent Rights in the Territory, including the right to grant sublicenses, to make, use, sell, have made, have sold, import, have imported, export, have exported, distribute, have
distributed, offer for sale, and otherwise exploit to their full extent, the Licensed Products in the Field. 

2.02    No Challenge. During the Term, neither Party nor their Affiliates will directly or indirectly
challenge the validity or enforceability of the Licensed Patent Rights, or provide assistance of any kind to any Third Party with respect to such a challenge, or provide assistance of any kind to a Third Party with regard to an allegation of
infringement of the Licensed Patent Rights by a Third Party, including, without limitation, by: (a) filing or participating in a declaratory judgment action in which any of the Licensed Patent Rights is alleged to be invalid or unenforceable;
(b) citing prior art pursuant to 35 U.S.C. Section 301, filing a request for reexamination of any of the Licensed Patent Rights pursuant to 35 U.S.C. Section 302 and/or 311, or provoking or becoming a party to an interference with any
of the Licensed Patent Rights pursuant to 35 U.S.C. Section 135; (c) filing or commencing any re-examination, opposition, cancellation, nullity or similar proceedings against any of the Licensed Patent
Rights; or (d) participating directly or indirectly in any equivalent proceeding or action in any country in the Territory. 

2.03    Effect of Bankruptcy. All rights and licenses granted under or pursuant to any section of this
Agreement are, and shall otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of rights to “intellectual property” as defined under Section 101(35A) of the U.S. Bankruptcy Code to the
extent permitted thereunder. The Parties shall retain and may fully exercise all of their respective rights and elections under the U.S. Bankruptcy Code. Upon the bankruptcy of any Party, the non-bankrupt
Party shall further be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property, and such, if not already in its possession, shall be promptly delivered to the
non-bankrupt Party, unless the bankrupt Party elects to continue, and continues, to perform all of its obligations under this Agreement. 

  
 Page 3 of 12 

 CONFIDENTIAL INFORMATION 

 

 ARTICLE 3.    PAYMENTS 

3.01    Upfront Payment. 

In partial consideration for the license granted by LICENSOR under Article 2 of this Agreement, LENSAR shall pay to LICENSOR the amount of
Three Million Five Hundred Thousand United States Dollars ($3,500,000) within fifteen (15) days of the Effective Date. 

3.02    Milestone Payments. 
  

	 	(a)	 Milestone Payments for First U.S. Regulatory Approval. In further consideration of the license granted
by LICENSOR under Article 2 of this Agreement, upon the First U.S. Regulatory Approval, LENSAR shall make a one-time payment in the sum of [***] within fifteen (15) days of attainment of such milestone.
LENSAR shall be liable for the payment of the milestone payment under this Section 3.02(a) only once, at which point all obligations of LENSAR under this Section 3.02(a) shall be satisfied. 

 

	 	(b)	 Milestone Payment for First Commercial Sale. In further consideration of the license granted by LICENSOR
under Article 2 of this Agreement, upon the First Commercial Sale, LENSAR shall make a one-time payment in the sum of [***] within fifteen (15) days of attainment of such milestone. LENSAR shall be liable
for the payment of the milestone payment under this Section 3.02(b) only once, at which point all obligations of LENSAR under this Section 3.02(b) shall be satisfied. 

 

	 	(c)	 Payment of Milestone Payments. Upon completion of the payment of the milestone payments provided for in
this Section 3.02, the license granted hereunder shall become fully paid up, irrevocable and perpetual for the Term of this Agreement. 

3.03    Payment. All amounts payable to LICENSOR under this Agreement shall be payable in U.S. Dollars by
wire transfer to the following bank account designated by LICENSOR (or such other bank account as LICENSOR may designate in writing from time to time): 

[***] 

3.04    Interest on Overdue Payments. LENSAR shall be liable for interest on any overdue payments under
Sections 3.01 and 3.02 at the rate of two percent (2%) above the U.S. Prime rate quoted by Citibank, N.A. for the applicable period, or the highest rate allowed by law, whichever is less, commencing on the date such payment is due until paid without
prejudice to LICENSOR’s right to receive payment on the due date. 
 ARTICLE 4.    PROSECUTION, MAINTENANCE AND ENFORCEMENT
OF LICENSED PATENT RIGHTS 
 4.01    LICENSOR shall coordinate with LENSAR regarding the preparation,
filing, prosecution, extension and maintenance of the Licensed Patent Rights. In accordance with this paragraph, LICENSOR shall provide copies of all patent office communications regarding or related to patent office communications regarding the
Licensed Patents. If LICENSOR elects not to pursue the initial filing of a potential Licensed Patent Right in the Territory or support the 

  
 Page 4 of 12 

 CONFIDENTIAL INFORMATION 

 

 
continued prosecution, maintenance or foreign filing of any such patent, LICENSOR will promptly so notify LENSAR, and in any event in good time, to enable LENSAR to timely meet any applicable
deadlines for the preservation of such patent rights. LENSAR shall then have the right, but not the obligation, to pursue the filing or support the continued prosecution or maintenance of any such Licensed Patent Right at its sole expense. If LENSAR
does so elect, then LICENSOR shall provide such cooperation to LENSAR, including the execution and filing of appropriate instruments, as may reasonably be requested to facilitate the transition of such patent activities, and LICENSOR, or its
successor in interest, shall assign all of its right, title and interest to such Licensed Patent Right, other than LICENSOR’s rights to payment as provided in Article 3 hereof, to LENSAR, and LENSAR’s remaining obligations and
covenants to LICENSOR with respect to such assigned Licensed Patent Rights under this Agreement shall terminate. 

4.02    Third Party Infringements. Each Party shall promptly notify the other Party in writing of any
actual or suspected infringement of any Licensed Patent Right, which notification shall specify in reasonable detail the nature of such actual or suspected infringement. LENSAR shall have the right to enforce the Licensed Patent Rights against such
infringing activity or to defend any such claim of invalidity filed by a Third Party with respect to the Licensed Patent Rights in the Territory. LENSAR shall keep LICENSOR reasonably informed as to its strategy and the status of the action. The
Parties agree that the costs of such prosecution or defense of validity shall be borne by LENSAR. LENSAR shall be entitled to the proceeds of any awards, judgments or settlements obtained in connection with an infringement or misappropriation. At
LENSAR’s request and expense, LICENSOR agrees to furnish LENSAR with such cooperation, including consenting to act as a party to litigation if required by Applicable Law, and exchange of information as LENSAR may reasonably request in
connection with the prosecution of any such action and LICENSOR agrees that LENSAR shall have final decision-making authority in connection with such actions. LICENSOR shall not take any action which would admit or represent to the invalidity or
unenforceability, or the non-infringement by a Third Party, of a Licensed Patent Right without the consent of LENSAR, during the course of a proceeding in which the Licensed Patent Rights are at issue or
otherwise. 
 ARTICLE 5.    REPRESENTATIONS AND WARRANTIES; INDEMNIFICATION 

5.01    Each Party represents and warrants to the other: 

 

	 	i	 That it knows of no legal reason that would prevent it from entering into this Agreement and satisfying each of
its obligations hereunder; 

  

	 	ii	 That the signatory hereto is duly authorized to execute and deliver this Agreement on behalf of the Party for
which it signs; and 

  

	 	iii	 That the execution and delivery by each Party of this Agreement or the consummation of the transactions
contemplated hereby will not contravene, conflict with, result in a breach, violation, cancellation or termination of, constitute a default (with or without notice or lapse of time, or both) under, require prepayment under, give any Third Party the
right to exercise any remedy or obtain any additional rights under, or accelerate the maturity or performance of or payment under, in any respect, (a) any applicable law or 

  
 Page 5 of 12 

 CONFIDENTIAL INFORMATION 

 

	 	
any judgment, order, writ, decree, permit or license to which any of its assets or properties may be subject or bound, or (b) any term or provision of any contract, agreement, indenture,
lease, license, deed, commitment, obligation or instrument to which a Party may be bound or to which any of its assets or properties may be bound or committed or (c) any term or provision of any of the organizational documents of a Party.

 5.02    LICENSOR represents and warrants as follows: 

 

	 	i	 That it is the sole owner of the entire right, title and interest in the Licensed Patent Rights existing as of
the Effective Date and covenants that it will use its best efforts to ensure that it is the sole owner of the entire right, title and interest in any Licensed Patent Rights that come into existence during the Term; 

 

	 	ii	 That each individual associated with the filing and prosecution of the Licensed Patent Rights has complied in
all material respects with all applicable duties of candor and good faith in dealing with any Patent Office, including any obligation to disclose to any Patent Office all information known by such inventors to be material to the patentability of the
Licensed Patent Rights where such duties exist; 

  

	 	iii	 That, to the best of LICENSOR’s knowledge, there is no opposition, interference, reexamination, derivation
or other post-grant proceeding, injunction, claim, suit, action, citation, summon, subpoena, hearing, inquiry, government investigation, complaint, arbitration, mediation, demand, decree or other dispute, disagreement, proceeding or claims pending
or threatened with respect to the Licensed Patent Rights; and 

  

	 	iv	 That, except as it has specifically notified LENSAR thereof in advance of the Effective Date of this Agreement,
it is not in possession of any written legal opinion with respect to any of the Licensed Patent Rights which questions the validity or enforceability or ownership thereof. 

5.03    No Other Warranties. EXCEPT AS SPECIFICALLY SET FORTH IN THIS ARTICLE 5, NEITHER LENSAR NOR LICENSOR
MAKES ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO ANY MATTER, INCLUDING WITHOUT LIMITATION THE LICENSED PATENT RIGHTS, OR LICENSED PRODUCTS DEVELOPED, COMMERCIALIZED, SOLD OR OTHERWISE ACQUIRED OR
DISPOSED OF BY LENSAR. 
 5.04    LENSAR Indemnification of LICENSOR. LENSAR shall at all times, during
the Term of this Agreement and thereafter, indemnify and hold harmless LICENSOR and its Affiliates, sublicensees, directors, officers, agents and employees from any claim, proceeding, loss, expense, and liability of any kind whatsoever (including
but not limited to those resulting from death, personal injury, illness or property damage and including legal expenses and reasonable attorneys’ fees) arising out of or resulting from (a) any claim of patent infringement

  
 Page 6 of 12 

 CONFIDENTIAL INFORMATION 

 

 
(direct or contributory) or inducing patent infringement with respect to the activities of LENSAR or its Affiliates or sublicensees; (b) the development, manufacture, holding, use, testing,
advertisement, importation, sale or other disposition of any product and/or the exercise of any rights under this Agreement by LENSAR, its Affiliates or sublicensees, or any distributor, customer or representative thereof or any one in privity
therewith; or (c) any material breach of its obligations, representations, warranties or covenants of this Agreement. LICENSOR shall promptly notify LENSAR of such claim, proceeding, loss, expense or liability and LENSAR, at LENSAR’s cost,
shall have sole control over the defense, including settlement of any claim or action, with full cooperation from LICENSOR, provided that, LENSAR shall not affect any settlement or other disposition of any such related proceeding or claim which
materially affects LICENSOR without LICENSOR’s consent. 
 5.05    LICENSOR Indemnification of
LENSAR. LICENSOR shall at all times, during the Term of this Agreement and thereafter, indemnify and hold harmless LENSAR and its Affiliates, sublicensees, directors, officers, agents and employees from any claim, proceeding, loss, expense, and
liability of any kind whatsoever (including but not limited to those resulting from death, personal injury, illness or property damage and including legal expenses and reasonable attorneys’ fees) arising out of or resulting from any material
breach of its obligations, representations, warranties or covenants under this Agreement. LENSAR shall promptly notify LICENSOR of such claim, proceeding, loss, expense or liability and LICENSOR, at LICENSOR’s cost, shall have sole control Over
the defense, including settlement of any claim or action, with full cooperation from LENSAR, provided that, LICENSOR shall not affect any settlement or other disposition of any such related proceeding or claim which materially affects LENSAR without
LENSAR’s consent. 
 5.06    Covenant Not to Sue a Licensed Product. Each of Doug Patton and
Ophthalmic Synergies, on behalf of itself and its Affiliates and its officers and directors, covenants that it will not sue or assert any claim against, or otherwise participate in any action or proceeding against LENSAR, its Affiliates or their
successors and permitted assigns or any of LENSAR’s suppliers, distributors, wholesalers or customers (collectively, the “LENSAR PARTIES”), or cause or authorize any person or entity to do any of the foregoing, in each case claiming
or otherwise asserting that the copying, distribution, manufacture, having manufactured, use, sale, offer for sale, importation, marketing, exportation, distribution or other commercial exploitation in the Territory of a Licensed Product in the
Field infringes any copyright, patent, or patent application, that is Controlled by LICENSOR or an Affiliate, so long as LENSAR, its successor or permitted assign are in compliance with the terms of this Agreement. 

ARTICLE 6.    CONFIDENTIALITY 

6.01    Confidential Information. Each party shall maintain in confidence all information and
materials disclosed by the other party, including, without limitation, information relating to the Licensed Patent Rights or Licensed Products, and further including information provided by either Party to the other Party prior to the Effective Date
(hereinafter “Information”), and shall not use such Information for any purpose except as reasonably required to exercise its rights and comply with its obligations under this Agreement, or disclose the same to anyone other than those of
its Affiliates, sublicensees, employees, consultants, agents, or subcontractors as are necessary in connection with such Party’s activities as contemplated in this Agreement. Each 

  
 Page 7 of 12 

 CONFIDENTIAL INFORMATION 

 

 
Party shall enter into an appropriate enforceable agreement from any sublicensees, employees, consultants, agents and subcontractors, prior to disclosure, to hold in confidence and not make use
of such Information for any purpose other than those permitted by this Agreement. This confidentiality provision replaces and supersedes the Mutual Non-Disclosure Agreement effective date 9/4/2018 between the
Parties, which prior agreement controls for information exchanged prior to the Effective Date. 

6.02    Recipient Obligations. The receiving Party’s obligations described in Section 6.01 shall
continue during the Term of this Agreement and for a period of five (5) years thereafter, but shall not apply to any of the Information: 
  

	 	(a)	 which, at the time of its receipt of the Information, is published, known publicly, or is already in the public
domain; 

  

	 	(b)	 which, after the date of its receipt of the Information, is published, becomes known publicly or becomes a part
of the public domain by the publication or otherwise, except by breach of this Agreement by the receiving Party; 

  

	 	(c)	 which the receiving party can establish by competent proof was obtained from a third party after the date of
its receipt of the Information, provided, however, that said third party has not violated any obligation of confidentiality to the disclosing Party; 

  

	 	(d)	 which the receiving party can establish by competent proof was rightfully in its possession on the date of its
receipt of the Information; 

  

	 	(e)	 which the receiving Party can establish by competent proof was subsequently developed by the receiving Party
without using any Information received from the disclosing Party; 

  

	 	(f)	 which is disclosed pursuant to a requirement of law; provided, however, that the receiving Party will first
give written notice of such required disclosure to the disclosing Party, make a reasonable effort to obtain a protective order with respect to the Information, and take reasonable steps to allow the disclosing Party to protect the confidentiality of
the Information required to be disclosed; 

  

	 	(g)	 which is disclosed to a government agency, regulatory authority, clinical research organization, clinical
investigator or other third party to whom disclosure is necessary for development of a Licensed Product in connection with drug development, approval or registration of a Licensed Product; 

 

	 	(h)	 which is necessary in connection with a potential merger, sale or acquisition, financing, or to meet the
requirements of any securities exchange to which the receiving Party may be subject, including any related rules and regulations, but only to the extent such disclosure is reasonably required and subject to obligations of confidentiality wherever
possible. 

  
 Page 8 of 12 

 CONFIDENTIAL INFORMATION 

 

 ARTICLE 7.    TERM AND TERMINATION 

7.01    Duration of the Agreement. Unless earlier terminated as provided in this Article 7, this
agreement shall come into force on the Effective Date and shall continue until the expiration of the Term. 

7.02    Termination. 
  

	 	(a)	 This Agreement may be terminated for any reason at any time upon sixty (60) days prior written notice to
LICENSOR by LENSAR. 

  

	 	(b)	 If either party shall at any time commit any material breach of any covenant or agreement herein contained and
shall fail to have initiated and actively pursued remedy of any such default or breach within thirty (30) days after receipt of written notice thereof by the other party, that other party may, at its option, cancel this Agreement and revoke any
rights and licenses herein granted and directly affected by the default or breach by notice in writing to such effect, but such act shall not prejudice the right of the party giving notice to retain the consideration previously received or recover
any sums due at the time of such cancellation, it being understood, however, that if within the specified cure period after receipt of any such notice the receiving party shall have initiated and actively pursued remedy of its default, then the
rights and licenses herein granted shall remain in force as if no breach or default had occurred on the part of the receiving party, unless such breach or default is not in fact remedied within a reasonable period of time. 

 

	 	(c)	 This Agreement may be terminated by either party upon the occurrence of any of the following which is not
stayed or vacated within ninety (90) days of such occurrence: (i) petition in bankruptcy filed by or against the other party; (ii) adjudication of the other party as bankrupt or insolvent; (iii) appointment of a liquidator,
receiver or trustee for all or a substantial part of the other party’s property; or (iv) an assignment for the benefit of creditors of the other party. 

7.03    No Waiver. The right of either Party to terminate this Agreement as provided herein shall not be
affected in any way by its waiver of, or failure to take action with respect to, any previous failure to perform hereunder. 

7.04    Survival. Any accrued payment under Article 3 and any rights or obligations under
Article 6 shall survive termination of this Agreement. 
 ARTICLE 8.    MISCELLANEOUS 

8.01    Force Majeure. Neither Party shall be responsible to the other for failure or delay in performing any
of its obligations under this Agreement or for other non-performance hereof provided that such delay or non-performance is occasioned by a cause beyond the reasonable
control and without fault or negligence of such Party, including, but not limited to earthquake, fire, 

  
 Page 9 of 12 

 CONFIDENTIAL INFORMATION 

 

 
flood, explosion, discontinuity in the supply of power, court order or governmental interference, act of God, strike or other labor trouble and provided that such Party will inform the other
Party as soon as is reasonably practicable and that it will entirely perform its obligations immediately after the relevant cause has ceased its effect. 

8.02    Press Release. The Parties agree that any press release issued by a Party shall be subject to
the review and comment of the other Party prior to release. The reviewing Party agrees to promptly review and provide any comments, which the issuing Party will consider in its sole discretion. 

8.03    Governing Law and Venue. This Agreement and any dispute related thereto shall be governed by the law
of the state of Delaware or, as applicable Federal Law, without regard to any choice of law principles that would dictate the application of the laws of another jurisdiction. Any claim, dispute or controversy arising out of or in connection with or
relating to this Agreement or the breach or alleged breach thereof, such claim, dispute or controversy shall be submitted for adjudication in the District Court for the District of Delaware. 

8.04    Notices. Any notice or report required or permitted to be given under this Agreement shall be in
writing and shall be sent by expedited delivery or telecopied and confirmed by mailing, as follows and shall be effective three (3) days after such delivery: 
  

			
	If to LENSAR:	  	 LENSAR, Inc.
 2800 Discovery Drive

Suite 100
 Orlando, FL 32836

Attention: Chief Executive Officer
 [insert email or fax
no.]

		
	With Copy to:	  	 PDL BioPharma, Inc.
 932 Southwood Boulevard

Incline Village, NV 89451 USA
 Attention: General Counsel

General.Counsel@pdl.com

		
	If to LICENSOR:            	  	 Doug Patton c/o Ophthalmic Synergies, LLC

[***]
 [***]

[***]

 8.05    Dispute Resolution. Any dispute, controversy or claim arising out of
or relating to this Agreement, including without limitation, a dispute concerning a termination of this Agreement (hereinafter collectively referred to as “Dispute”) shall be attempted to be settled by the Parties, in good faith, by
submitting each such Dispute to appropriate senior management representatives of each Party in an effort to effect a mutually acceptable resolution thereof within thirty (30) days of submission to such representatives. Within fifteen
(15) days after submission of the Dispute to such senior representatives, each Party shall submit a brief, written summary of the Dispute and their respective position with respect to the Dispute to such senior representatives. 

  
 Page 10 of 12 

 CONFIDENTIAL INFORMATION 

 

 8.06    Entire Agreement. This Agreement constitutes
the entire agreement between the parties hereto with respect to the within subject matter and supersedes all previous agreements with respect to the within subject matter, whether written or oral. This Agreement shall not be changed or modified
orally, but only by an instrument in writing signed by both Parties. 
 8.07    Assignment. The
rights of either Party under this Agreement may be sold, assigned and/or transferred, and the duties of either Party under this Agreement may be delegated, provided that, until such date as the final payment hereunder with respect to
Sections 3.01 and 3.02 are made, any such assignment shall be subject to the other party’s approval, which approval shall not be unreasonably withheld or delayed. 

8.08    Headings. Any headings and captions used this Agreement are for convenience and reference
only and are not part of this Agreement. 
 8.09    Counterparts. This Agreement may be executed in any
number of counterparts, each of which shall be deemed to be an original and such counterparts together shall constitute one agreement. 

[Signatures on the following page] 

  
 Page 11 of 12 

 CONFIDENTIAL INFORMATION 

 

 IN WITNESS WHEREOF, the Parties hereto have duly executed this Exclusive License
Agreement as of the date first above written. 
  

									
	LENSAR, INC.	 		 	DOUG PATTON
					
	By:	 	 /s/ Nick T. Curtis
	 		 	By:	 	 /s/ Doug Patton

	Name:	 	Nick T. Curtis	 		 	Name:	 	Doug Patton
	Title:	 	CEO	 		 	Title:	 	
				
		 		 		 	OPTHALMIC SYNERGIES, LLC
					
		 		 		 	By:	 	 /s/ Doug Patton

		 		 		 	Name:	 	Doug Patton
		 		 		 	Title:	 	C.E.O.

  
 Page 12 of 12

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