Document:

Exhibit 4.2

 

RESALE REGISTRATION RIGHTS AGREEMENT

 

THIS RESALE REGISTRATION
RIGHTS AGREEMENT, dated as of August 9, 2020 (this “Agreement”), has been entered into by and between
SENSEONICS HOLDINGS, INC., a Delaware corporation (the “Company” or “Senseonics”)
and the Purchasers (as defined below).

 

BACKGROUND

 

In connection with
the Stock Purchase Agreement, dated as of August 9, 2020 (the “SPA”), by and between the Purchasers (as
defined below) and the Company, pursuant to which the Purchasers have agreed to purchase from the Company up to 30,000 shares of
convertible preferred stock of the Company (the “Preferred Stock”), and the Company has agreed to provide
to the Purchasers certain resale registration rights under the Securities Act of 1933, as amended, and the rules and regulations
thereunder (together, the “Securities Act”), and applicable state securities laws with respect to the
Conversion Shares (as defined below) and the Preferred Stock.

 

AGREEMENT

 

In light of the above,
the Company and the Purchasers hereby agree as follows:

 

		1.	Definitions.

 

As used in this Agreement,
the following terms will have the respective meanings set forth in this Section 1:

 

“Agreement”
has the meaning set forth in the preamble.

 

“Advice”
has the meaning set forth in Section 2(d)(iv).

 

“As-Converted
Conversion Share Ownership Percentage” means with respect to any Holder(s) as of any time, a fraction (a) whose numerator
is the aggregate number of Conversion Shares owned, or issuable upon conversion of the Preferred Stock owned, by such Holder(s)
as of such time; and (b) whose denominator is the aggregate number of Conversion Shares that are then outstanding or are issuable
upon conversion of the Preferred Stock then outstanding held by all Holders under this Agreement; provided, however, that
for purposes of this definition, Registrable Securities not relating to any Preferred Stock or Conversion Shares issued pursuant
to the SPA will be disregarded.

 

“Block
Trade” means a Demand Underwritten Offering that does not require a management road show.

 

“Blue
Sky” has the meaning set forth in Section 3(m).

 

“Business
Day” means (i) a day on which the Common Stock is traded on a Trading Market, (ii) if the Common Stock is not listed
on any Trading Market, a day on which the Common Stock is quoted in the over-the-counter market as reported by the National Quotation
Bureau Incorporated (or any similar organization or agency succeeding to its functions of reporting prices) or (iii) in the event
that the Common Stock is not listed or quoted as set forth in (i) and (ii) hereof, any day other than a Saturday, a Sunday or a
day on which banking institutions in The City of New York are authorized or required by law, regulation or executive order to remain
closed.

 

“Claim”
has the meaning set forth in Section 5(b).

 

“Commission”
means the Securities and Exchange Commission or any successor agency.

 

     

     

    

 

“Common
Stock” means the Company’s common stock, par value $0.001 per share.

 

“Conversion
Share” means any share of Common Stock issued or issuable upon conversion of the Preferred Stock.

 

“Company”
has the meaning set forth in the preamble.

 

“Demand
Registration Notice” has the meaning set forth in Section 2(e)(i).

 

“Demand
Registration Statement” means each registration statement under the Securities Act that is designated by the Company
for the registration, under the Securities Act, of any Demand Underwritten Offering pursuant to Section 2(e). For the avoidance
of doubt, the Demand Registration Statement may, at the Company’s election, be the Registration Statement filed pursuant
to Section 2(a).

 

“Demand
Underwritten Offering” has the meaning set forth in Section 2(e)(i).

 

“Demand
Underwritten Offering Majority Holders” has the meaning set forth in Section 2(e)(iv)(1).

 

“Demanding
Notice Holders” has the meaning set forth in Section 2(e)(i).

 

“Discontinuance
Notice” has the meaning set forth in Section 3(d).

 

“Effective
Date” means, with respect to any Registration Statement, the date on which the Commission first declares effective
such Registration Statement.

 

“Effectiveness
Deadline” means, with respect to a Registration Statement filed pursuant to Section 2(a), ninety (90) calendar days
after the Filing Deadline in the case of a filing on Form S-3 and one hundred twenty (120) calendar days after the Filing Deadline
in the case of a filing on Form S-1.

 

“Effectiveness
Period” has the meaning set forth in Section 2(a).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Filing
Deadline” means September 23, 2020.

 

“FINRA”
means the Financial Industry Regulatory Authority, Inc. or any successor organization performing similar functions.

 

“Holder”
or “Holders” means the holder or holders, as the case may be, from time to time of Registrable Securities.

 

“Indemnified
Party” has the meaning set forth in Section 5(c).

 

“Indemnifying
Party” has the meaning set forth in Section 5(c).

 

“Losses”
has the meaning set forth in Section 5(a).

 

“Managing
Underwriters” means, with respect to any Demand Underwritten Offering, one or more registered broker-dealers that
are designated in accordance with this Agreement to administer such offering.

 

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“Maximum
Successful Underwritten Offering Size” means, with respect to any Demand Underwritten Offering, the maximum number
of securities that may be sold in such offering without adversely affecting the success of such offering, as advised by the Managing
Underwriters for such offering to the Company and the applicable Demand Underwritten Offering Majority Holders.

 

“Offering
Launch Time” means, with respect to a Demand Underwritten Offering, the earliest of (a) the first date a preliminary
prospectus (or prospectus supplement) for such offering is filed with the Commission; (b) the first date such offering is publicly
announced; and (c) the date a definitive agreement is entered into with the Managing Underwriters respect to the such offering.

 

“Person”
or “person” means any individual, corporation, partnership, limited liability company, joint venture,
association, joint-stock company, trust, unincorporated organization or government or other agency or political subdivision thereof.
Any division or series of a limited liability company, limited partnership or trust will constitute a separate “person”
under this Agreement.

 

“Plan
of Distribution” has the meaning set forth in Section 2(a).

 

“Preferred
Stock” has the meaning set forth in the preamble.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding,
such as a deposition), whether commenced or threatened.

 

“Prospectus”
means the prospectus included in a Registration Statement (including, without limitation, any preliminary prospectus, any free-writing
prospectus and any prospectus that includes any information previously omitted from a prospectus filed as part of an effective
registration statement under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the
terms of the offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments
and supplements to such prospectus, including post-effective amendments, and all material incorporated by reference or deemed to
be incorporated by reference in such prospectus.

 

“Purchaser”
is any of one of the Purchasers.

 

“Purchasers”
means the purchasers of the Preferred Stock identified on the signature pages to the SPA and each successor and assignee that becomes
party to the SPA.

 

“Registrable
Securities” means any Conversion Shares issued or issuable upon conversion of the Preferred Stock. “Registrable
Securities” also includes any shares of capital stock issued or issuable with respect to the foregoing as a result
of any stock split, stock dividend, recapitalization, exchange or similar event or otherwise. As to any particular Registrable
Securities, such securities shall cease to be Registrable Securities when (i) the Commission has declared a Registration Statement
covering such securities effective and such securities have been disposed of pursuant to such effective Registration Statement;
(ii) such securities are sold under circumstances in which all of the applicable conditions of Rule 144 under the Securities Act
are met and the legend restricting further transfer has been removed from the certificate for such securities; or (iii) such securities
are no longer outstanding.

 

“Registration
Default” has the meaning set forth in Section 2(c)(iv).

 

“Registration
Statement” means a registration statement filed pursuant to the terms hereof and which covers the resale by the
Holders, including the Prospectus, amendments and supplements to such registration statement or Prospectus, including pre-
and post-effective amendments, all exhibits thereto and all material incorporated by reference (or deemed to be incorporated
by reference) therein. For the avoidance of doubt, “Registration Statement” means the initial
registration statement described above in this paragraph and any additional registration statement or registration statements
that are needed to sell additional Registrable Securities with the effect that the obligations of the Company under this
Agreement also extend to such additional registration statement or registration statements, in all cases, as specified in
this Agreement.

 

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“Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from
time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such
Rule.

 

“Rule
415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from
time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such
Rule.

 

“Rule
424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from
time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such
Rule.

 

“Securities
Act” has the meaning set forth in the preamble.

 

“Selling
Holder Questionnaire” has the meaning set forth in Section 2(d)(i).

 

“Selling
Securityholders” has the meaning set forth in Section 3(b).

 

“Senseonics”
has the meaning set forth in the preamble.

 

“SPA”
has the meaning set forth in the preamble.

 

“Subsequent
Form S-3” has the meaning set forth in Section 3(n).

 

“Suspension
Notice” has the meaning set forth in Section 2(b).

 

“Suspension
Period” has the meaning set forth in Section 2(b).

 

“Trading
Market” means whichever of the NYSE American, New York Stock Exchange, the Nasdaq Global Market, the Nasdaq Capital
Market, Nasdaq Global Select Market or such other United States registered national securities exchange on which the Common Stock
is listed or quoted for trading on the date in question.

 

		2.	Registration.

 

(a)               Mandatory
Registration. On or prior to the Filing Deadline, the Company will prepare and file with the Commission a Registration
Statement covering the resale of all Registrable Securities for an offering to be made on a continuous basis pursuant to Rule
415. The Registration Statement will be on Form S-3 (except if the Company is not then eligible to register for resale the
Registrable Securities on Form S-3, in which case such registration will be on Form S-1, and if for any reason the Company is
not then eligible to register for resale the Registrable Securities on Form S-1, then another appropriate form for such
purpose) and will contain (except if otherwise required pursuant to written comments received from the Commission upon a
review of such Registration Statement) a “Plan of Distribution” section, substantially in the form
attached hereto as Annex A, as the same may be amended in accordance with the provisions of this Agreement. The Company will
use its reasonable best efforts to cause the Registration Statement to be declared effective under the Securities Act as soon
as possible but, in any event, no later than the Effectiveness Deadline, and will use their reasonable best efforts to keep
the Registration Statement (or a Subsequent Form S-3) continuously effective under the Securities Act until such date when
all Registrable Securities covered by the Registration Statement cease to be Registrable Securities as determined by the
counsel to the Company (the “Effectiveness Period”).

 

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(b)              
Suspension Periods. Notwithstanding Section 2(a), the Company may, at any time, delay the filing or delay or suspend
the effectiveness of a Registration Statement or any pending or potential Demand Underwritten Offering or, without suspending such
effectiveness, deliver a notice (a “Suspension Notice”) that instructs any selling Holders not to sell
any securities included in the Registration Statement or delay the filing of any amendment or supplement pursuant to Section 3,
if the board of directors of the Company has determined and promptly notifies the selling Holders in writing that in its reasonable
good faith judgment (i) a material event has occurred or is likely to occur with respect to the Company that has not been publicly
disclosed and, if disclosed, could reasonably be expected to materially and adversely affect the Company and its ability to consummate
the registration of the resale of the Registrable Securities or (ii) such registration could reasonably be expected to materially
interfere with any material financing, acquisition, corporate reorganization, merger, tender offer or other significant transaction
involving the Company (a “Suspension Period”), by providing the selling Holders with written notice of
such Suspension Period and the reasons therefor. The Company will use its reasonable best efforts to provide such notice at least
ten (10) Business Days prior to the commencement of such a Suspension Period; provided, however, that in any event the Company
will provide such notice no later than the commencement of such Suspension Period; provided, further, that in no event will a Suspension
Period exceed 30 days and in no event shall the total number of days subject to a Suspension Period during any consecutive 12-month
period exceed 45 days. Any Suspension Period will not be deemed to end until the Holders have received a notice from the Company
stating that such Suspension Period has ended.

 

(c)               
Damages. The parties hereto agree that the Holders will suffer damages if the Company fails to fulfill its obligations
under this Section 2 and that, in such case, it would not be feasible to ascertain the extent of such damages with precision. Accordingly,
if:

 

(i)                
the Company does not file a Registration Statement by the Filing Deadline;

 

(ii)               
a Registration Statement is not declared effective by the Commission on or before the applicable Effectiveness Deadline;

 

(iii)              
the Company extends any Suspension Period beyond 45 days during any consecutive 12-month period; or

 

(iv)              a
Registration Statement is filed and declared effective but, during the applicable Effectiveness Period, a Registration
Statement is not effective for any reason or the Prospectus contained therein is not available for use for any reason,
including by reason of its withdrawal or termination pursuant to Section 3(e), or, other than by reason of a Suspension
Period as provided in Section 2(b), will fail to be usable for its intended purpose without such disability being cured
within ten (10) Business Days by an effective post-effective amendment to such Registration Statement, a supplement to the
Prospectus, a report filed with the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act that cures
such failure or the effectiveness of a Subsequent Form S-3, and either (x) the Company fails for any reason to satisfy the
requirements of Rule 144(c)(1), including, without limitation, the failure to satisfy the current public information
requirement under Rule 144(c); or (y) the Company fails to satisfy any condition set forth in Rule 144(i)(2) as a result of
which any of the Holders are unable to sell Registrable Securities without restriction under Rule 144 (including, without
limitation, volume restrictions) (each such event referred to in foregoing clauses (i) through (iv), a
“Registration Default”), then in such event as partial relief for the damages to any Holder by
reason of any such delay in or reduction of its ability to sell the Registrable Securities and not as a penalty (which remedy
will not be exclusive of any other remedies available at law or equity), the Company hereby agrees to make pro rata payments
to each Holder, subject to Section 2(d), as liquidated damages and not as a penalty, an additional amount equal to 0.5% of
the aggregate amount invested by such Holder for each 90-day period (or pro rata for any portion thereof) following the
occurrence of any Registration Default and shall be increased by 0.5% during each subsequent 90-day period (or pro rata for
any portion thereof), provided that in no event shall the additional amount per 90-day period exceed 2.0% and in no event
shall the aggregate additional amount due pursuant to this Section 2(c)(iv) exceed 10.0% of the aggregate amount invested by
such Holder. Such payments shall constitute the Holder’s exclusive monetary remedy for such events, but shall not
affect the right of the Holders to seek injunctive relief. The amounts payable as liquidated damages pursuant to this
paragraph shall be paid monthly within three (3) Business Days of the last day of each month following the commencement of
the payments. Such payments shall be made to each Holder in cash. Interest shall accrue at the rate of 1% per month on any
such liquidated damages payments that shall not be paid by the due date until such amount is paid in full.

 

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(d)               
Holders’ Agreements. It will be a condition of each Holder’s rights under this Agreement, and each Holder
agrees, as follows:

 

(i)                 
Cooperation & Selling Holder Questionnaire. Such Holder will cooperate with the Company by, with reasonable promptness,
supplying information and executing documents relating to such selling Holder or the securities of the Company owned by such selling
Holder in connection with such registration which are customary for offerings of this type or is required by applicable laws or
regulations, including but not limited to furnishing to the Company a completed questionnaire in the form attached to this Agreement
as Annex B (a “Selling Holder Questionnaire”). The Company will not be required to include the Registrable
Securities of a Holder in a Registration Statement and will not be required to pay any damages under Section 2(c) to any Holder
who fails to furnish to the Company a fully completed Selling Holder Questionnaire at least five (5) Business Days prior to the
applicable Filing Deadline.

 

(ii)               
Undertakings. Such selling Holder will enter into any undertakings and take such other action relating to the conduct
of the proposed offering which the Company may reasonably request as being necessary to insure compliance with federal and state
securities laws and the rules or other requirements of FINRA.

 

(iii)               
Shelf Sales. In connection with and as a condition to the Company’s obligations with respect to any shelf Registration
Statement, each Holder covenants and agrees that it will not offer or sell any such Registrable Securities under the Registration
Statement until the Registration Statement has been declared effective by the Commission and such Holder has provided a written
notice to the Company of such proposed sale. The Company and the Holders acknowledge and agree that in no way shall this clause
limit Holder’s ability to sell securities without using the Registration Statement.

 

(iv)               
Discontinuance of Sales. Each Holder agrees by its acquisition of such Registrable Securities that, upon receipt
of a Suspension Notice or a Discontinuance Notice from the Company, such Holder will forthwith discontinue any offers and sales
of such Registrable Securities under the Registration Statement until such Holder’s receipt of the copies of the supplemented
Prospectus and/or amended Registration Statement or until it is advised in writing (the “Advice”) by
the Company that the use of the applicable Prospectus may be resumed, and, in either case, has received copies of any additional
or supplemental filings that are incorporated or deemed to be incorporated by reference in such Prospectus or Registration Statement.
The Company and the Holders acknowledge and agree that in no way shall this clause limit Holder’s ability to sell securities
without using the Registration Statement.

 

(e)               
Demand Underwriting Registration Rights. 

 

(i)                  Right
to Demand Underwriting Registration. Subject to the other provisions of this Section (2)(e), Holders will have the right,
exercisable by written notice satisfying the requirements of Section (2)(e)(ii) (a “Demand Registration
Notice”) to the Company by any one or more Holders whose aggregate As-Converted Conversion Share Ownership
Percentage exceeds fifty percent (50%) (such Holders, the “Demanding Notice Holders”), to require
the Company to register, under the Securities Act, an underwritten public offering (a “Demand Underwritten
Offering”) of Registrable Securities in accordance with this Section 2(e); provided, however, that:

 

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		(1)	no Demand Registration Notice may be delivered, or will be effective if:

 

		(A)	a prior Demand Underwritten Offering is pending or in process, and is not withdrawn, at the time
such Demand Registration Notice is delivered;

 

		(B)	the Company has already effected one (1) Demand Underwritten Offering (excluding Block Trades)
under this Section 2(e)(i);

 

		(C)	the Company has already effected one (1) Block Trade under this Section 2(e)(i);

 

		(D)	it is delivered during a Suspension Period; or

 

		(E)	the aggregate market value of the Registrable Securities of such Holder(s) to be included in the
requested Demand Underwritten Offering is less than seven million five hundred thousand dollars ($7,500,000) (unless such Registrable
Securities constitute all of the Registrable Securities then outstanding and relating to the Preferred Stock that was issued pursuant
to the SPA).

 

(ii)                
Contents of Demand Registration Notice. Each Demand Registration Notice sent by any Demanding Notice Holder(s) must
state the following:

 

(1)                
the name of, and contact information for, each such Demanding Notice Holder(s) and the number of Registrable Securities
held by each such Demanding Notice Holder that are outstanding were issued pursuant to the SPA;

 

(2)               
the desired date of the Offering Launch Time for the requested Demand Underwritten Offering, which desired date cannot (without
the Company’s consent, which will not be unreasonably withheld or delayed) be earlier than ten (10) Business Days after the
date such Demand Registration Notice is delivered to the Company;

 

(3)                
the number of Registrable Securities that are proposed to be sold by each such Demanding Notice Holder; and

 

		(4)	if the intended method of disposition is a Block Trade.

 

(iii)               
Participation by Holders Other Than the Demanding Notice Holder(s). If the Company receives a Demand Registration
Notice sent by one or more Demanding Notice Holders but not by all Holders, then:

 

(1)                
the Company will, within one (1) Business Day, send a copy of such Demand Registration Notice to each Holder other than
such Demanding Notice Holders; and

 

(2)               
subject to Section 2(e)(vii), the Company will use its commercially reasonable efforts to include, in the related Demand
Underwritten Offering, Registrable Securities of any such Holder that has requested such Registrable Securities to be included
in such Demand Underwritten Offering pursuant to a joinder notice that complies with the next sentence.

 

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		(A)	To include any of its Registrable Securities in such Demand Underwritten Offering, a Holder must
deliver to the Company, no later than the first (1st) Business Day after the date on which Company sent a copy of such Demand Registration
Notice pursuant to subsection (1) above, a written instrument, executed by such Holder, joining in such Demand Registration Notice,
which instrument contains the information set forth in Section 2(e)(ii)(5) with respect to such Holder.

 

(iv)               
Certain Procedures Relating to Demand Underwritten Offering.

 

(1)                
Obligations and Rights of the Company. Subject to the other terms of this Agreement, upon its receipt of a Demand
Registration Notice, the Company will (A) designate a Demand Registration Statement, in accordance with the definition of such
term and this Section 2(e), for the related Demand Underwritten Offering; and (B) use its commercially reasonable efforts to effect
such Demand Underwritten Offering in accordance with the reasonable requests set forth in such Demand Registration Notice or the
reasonable requests of the Holder(s) of a majority of the Registrable Securities included in such Demand Underwritten Offering
(the “Demand Underwritten Offering Majority Holders”), and cooperate in good faith with the Demand Underwritten
Offering Majority Holders in connection therewith. Notwithstanding anything to the contrary in this Agreement, the Company will
not be obligated to effect, or take any actions in respect of, any Demand Underwritten Offering (i) during a Suspension Period
or at any time when the securities proposed to be sold pursuant to such Demand Underwritten Offering are subject to any lock-up
agreement (including pursuant to a prior Demand Underwritten Offering) that has not been waived or released, (ii) after the Company
has already effected one (1) Demand Underwritten Offering pursuant to this Agreement, or (iii) after the Company has already effected
one (1) Block Trade pursuant to this Agreement. The Company will be entitled to rely on the authority of the Demand Underwritten
Offering Majority Holders of any Demand Underwritten Offering to act on behalf of all Holders that have requested any securities
to be included in such Demand Underwritten Offering.

 

(2)                
Designation of the Underwriting Syndicate. The Managing Underwriters, and any other underwriter, for any Demand Underwritten
Offering will be selected by the applicable Demand Underwritten Offering Majority Holders with the approval of the Company (which
will not be unreasonably withheld or delayed).

 

		(3)	Authority of the Demand Underwritten Offering Majority Holders. The Demand Underwritten
Offering Majority Holders for any Demand Underwritten Offering will have the following rights with respect to such Demand Underwritten
Offering, which rights, if exercised, will be deemed to have been exercised on behalf of all Holders that have requested any securities
to be included in such Demand Underwritten Offering:

 

(A)            
in consultation with the Managing Underwriters for such Demand Underwritten Offering, to determine the Offering Launch Time,
which date must comply with limitations thereon set forth in Section 2(e)(ii)(4);

 

(B)              
to determine the structure of the offering, provided such structure is be reasonably acceptable to the Company;

 

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(C)             
 to negotiate any related underwriting agreement and it terms, including the amount of securities to be sold by the applicable
Holders pursuant thereto and the offering price of, and underwriting discount for, such securities; provided, however,
that the Company will have the right to negotiate in good faith all of its representations, warranties and covenants, and indemnification
and contribution obligations, set forth in any such underwriting agreement; and

 

(D)              
withdraw such Demand Underwritten Offering by proving written notice of such withdrawal to the Company.

 

(4)                
Confidentiality. Each Holder agrees to treat as confidential information, its delivery or receipt of any Demand Registration
Notice and the information contained therein, including the related Demand Underwritten Offering.

 

(v)                
Conditions Precedent to Inclusion of a Holder’s Registrable Securities. Notwithstanding anything to the contrary
in this Section 2(e), the right of Holder to include any of its Registrable Securities in any Demand Underwritten Offering will
be subject to the following conditions:

 

(1)                
the execution and delivery, by such Holder or it is duly authorized representative or power of attorney, of any related
underwriting agreement and such other agreements or instruments (including customary “lock-up” agreements, custody
agreements and powers of attorney), if any, as may be reasonably requested by the Managing Underwriters for such Demand Underwritten
Offering; and

 

(2)                
the provision, by such Holder no later than the Business Day immediately after the request therefor, of any information
reasonably requested by the Company or such Managing Underwriters in connection with such Demand Underwritten Offering.

 

(vi)              
Priority of Securities in Demand Underwritten Offering. If the total number of securities requested to be included
in a Demand Underwritten Offering pursuant to this Section 2(e) exceeds the Maximum Successful Underwritten Offering Size for such
Demand Underwritten Offering, then:

 

(1)                
the number of securities to be included in such Demand Underwritten Offering will be reduced to an amount that does not
exceed the Maximum Successful Underwritten Offering Size; and

 

		(2)	to effect such reduction,

 

(A)             
if the number of Registrable Securities of Holders and other persons that have duly requested such Registrable Securities
to be included in such Demand Underwritten Offering in accordance with this Section 2(e) (or in the case of other persons, pursuant
to “piggyback rights” evidenced by another agreement) exceeds such Maximum Successful Underwritten Offering Size, then
number of Registrable Securities to be included in such Demand Underwritten Offering will be allocated first to the Holders pro
rata based on the total number of Registrable Securities so requested by each such Holder to be included in such Demand Underwritten
Offering and, thereafter to other persons.

 

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(f)                Piggyback
Registrations. Without limiting any obligation of the Company, if (i) there is not an effective Registration Statement
covering all of the Registrable Securities, if the Prospectus contained therein is not available for use, or if Rule 144 is
not available with respect to the Registrable Securities and (ii) the Company shall determine to prepare and file with the
Commission a registration statement or offering statement relating to an offering for its own account or the account of
others under the Securities Act of any of its equity or equity-linked securities (other than on Form S-4 or Form S-8 (each as
promulgated under the Securities Act) or their then equivalents relating to equity or equity-linked securities to be issued
solely in connection with any acquisition of any entity or business (or a business combination subject to Rule 145 under the
Securities Act) or equity or equity-linked securities issuable in connection with the Company’s stock option or other
employee benefit plans), or a dividend reinvestment or similar plan or rights offering, then the Company shall deliver to
each Holder a written notice of such determination and, if within fifteen (15) calendar days after the date of the delivery
of such notice, any such Holder shall so request in writing, the Company shall include in such registration statement or
offering statement all or any part of such Registrable Securities that such Holder requests to be registered; provided,
however, the Company shall not be required to register any Registrable Securities pursuant to this Section 2(f) that are the
subject of a then-effective Registration Statement. The Company may postpone or withdraw the filing or the effectiveness of a
piggyback registration at any time in its sole discretion. The Company shall not grant piggyback registration rights to any
holders of its Common Stock or securities that are convertible into its Common Stock that are senior to the rights of the
Holders set forth in this Section 2(f).

 

		3.	Registration Procedures. In connection with the Company’s obligations to effect a
registration pursuant to Section 2(a), the Company and, as applicable, the Holders, will do the following:

 

(a)               
FINRA Cooperation. The Company and the Holders will cooperate and assist in any filings required to be made with
FINRA.

 

(b)              
Right to Review Prior Drafts. Not less than ten (10) Business Days prior to the filing of a Registration Statement
or any related Prospectus or any amendment or supplement thereto, the Company will furnish to each Holder copies of the “Selling
Securityholders” and “Plan of Distribution” sections of such documents (together with drafts
of the Registration Statement or any related Prospectus or any amendment or supplement thereto) in the form in which the Company
proposes to file them, which sections and documents will be subject to the review of each such Holder. Each Holder will provide
comments, if any, within five (5) Business Days after the date such materials are provided. The Company will not file a Registration
Statement, any Prospectus or any amendments or supplements thereto in which the “Selling Securityholders”
or the “Plan of Distribution” sections thereof differ in any material respect from the disclosure received
from a Holder in its Selling Holder Questionnaire (as amended or supplemented) or otherwise differ in any material respect from
the drafts previously received by such Holder. Each Holder whose Registrable Securities are to be sold pursuant to a Demand Underwritten
Offering in accordance with Section 2(e) will be afforded the same rights set forth in this Section 3(b) with respect to any Registration
Statement or Prospectus or any amendment or supplement thereto which names such Holder.

 

(c)               
Right to Copies. The Company will furnish to each Holder and the Managing Underwriters, if any, without charge,
(i) at least one (1) conformed copy of each Registration Statement and each amendment thereto and all exhibits to the extent requested
by such Holder (excluding those previously furnished or incorporated by reference) promptly after the filing of such documents
with the Commission, except if such documents are available on EDGAR; and (ii) as many copies of each Prospectus or Prospectuses
(including each form of prospectus) and each amendment or supplement thereto as such Holder may reasonably request. The Company
hereby consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling Holders or Managing
Underwriters, as applicable, in connection with the offering and sale of the Registrable Securities covered by such Prospectus
and any amendment or supplement thereto.

 

    10

     

    

 

(d)               Notices.
The Company will notify each Holder covered by the Registration Statement as promptly as reasonably practicable: (A) when the
Prospectus or any prospectus supplement or post-effective amendment has been filed, and with respect to the Registration
Statement or any post-effective amendment, when the same has become effective; (B) of any request by the Commission for any
amendments or supplements to the Registration Statement or the Prospectus or for additional information; (C) of the issuance
by the Commission of any stop order suspending the effectiveness of the Registration Statement or the initiation of any
proceedings for that purpose; (D) if, at any time prior to the closing contemplated by the SPA, it becomes aware that the
representations and warranties of the Company contained in such agreement cease to be true and correct; (E) of the receipt by
the Company of any notification with respect to the suspension of the qualification of the Registrable Securities for sale in
any jurisdiction or the initiation or threatening of any proceeding for such purpose; (F) of the happening of any event which
it believes may make any statement made in the Registration Statement, the Prospectus or any document incorporated therein by
reference untrue, or of any material misstatement or omission, and which requires the making of any changes in the
Registration Statement, the Prospectus or any document incorporated therein by reference in order to make the statements
therein not misleading; (G) upon the occurrence of a Suspension Period (items (C) through and including (G) being a
“Discontinuance Notice”); and (H) upon the conclusion of a Suspension Period. In addition, during
the pendency of any Demand Underwritten Offering pursuant to Section 2(e), but other than during a Suspension Period, the
Company will provide notice to each Holder whose Registrable Securities are to be sold in such offering pursuant to the
Registration Statement used in connection with the Demand Underwritten Offering, which Holders will be afforded the same
notice set forth in clauses (A) through (H) of this Section 3(d) relating to such Registration Statement.

 

(e)               
Withdrawal of Suspension Orders. The Company will use its reasonable best efforts to respond as promptly as reasonably
possible to any comments received from the Commission with respect to any Registration Statement or any amendment thereto and to
obtain the withdrawal of any order suspending the effectiveness of the Registration Statement or the suspension of the qualification
of the Registrable Securities for sale in any jurisdiction, or to prevent any such suspension.

 

(f)               
Supplements & Amendments. Subject to Sections 2(a) and 2(e), if required by applicable federal securities
laws, based on the advice of the Company’s counsel, the Company will prepare a supplement or post-effective amendment to
a Registration Statement, the related Prospectus or any document incorporated therein by reference or file any other required document
or, if necessary, renew or refile a Registration Statement prior to its expiration, so that, as thereafter delivered to the purchasers
of the Registrable Securities, (A) the Prospectus will not contain an untrue statement of a material fact or omit to state any
material fact necessary to make the statements therein not misleading; (B) such Registration Statement remains continuously effective
as to the applicable Registrable Securities for its applicable Effectiveness Period; (C) the related Prospectus may be supplemented
by any required prospectus supplement, and as so supplemented may be filed pursuant to Rule 424 and (D) the Prospectus will be
supplemented, if necessary, to update the disclosure of the number of shares that each Holder intends to sell, reflecting prior
resales in accordance with guidance of the staff of the Commission (as such guidance may be substituted for, amended or supplemented
by the staff of the Commission after the date of this Agreement). Furthermore, subject to a Holder’s compliance with its
obligations under Section 2(d)(i), the Company will take such actions as are required to name such Holder as a selling Holder in
a Registration Statement or any supplement thereto and to include (to the extent not theretofore included) in such Registration
Statement the Registrable Securities identified in such Holder’s Selling Holder Questionnaire.

 

(g)              
Listing. The Company will use its reasonable best efforts to cause all Conversion Shares that constitute Registrable
Securities covered by the Registration Statement to be listed on each securities exchange on which identical securities issued
by the Company are then listed if requested by the Holder thereof and, if not so listed, to be approved for listing on the national
securities exchange on which the Company’s Common Stock is then listed.

 

    11

     

    

 

(h)              
 Transfer Agent & Registrar. The Company will provide and cause to be maintained a transfer agent and registrar
for all Registrable Securities covered by such Registration Statement from and after a date not later than the Effective Date of
such Registration Statement.

 

(i)               
Certificates. The Company will cooperate with the Holders to facilitate the timely preparation and delivery of
any certificates representing Registrable Securities to be delivered to a transferee pursuant to any Registration Statement, which
certificates will be free of all restrictive legends, and to enable such Registrable Securities to be in such denominations and
registered in such names as any such Holders may reasonably request.

 

(j)               
CUSIPs. The Company, if necessary, will use its best efforts to provide a CUSIP number for the Registrable Securities,
not later than the Effective Date of the Registration Statement.

 

(k)              
[Reserved.]

 

(l)              
Legal Counsel. Holders will have the right to select one legal counsel, at the Company’s expense pursuant
to Section 4, to review any Registration Statement or Prospectus prepared pursuant to Section 2 or this Section 3, which will be
such counsel as designated by the Holders of a majority of the Registrable Securities then outstanding. The Company will reasonably
cooperate with such legal counsel’s reasonable requests in performing their obligations under this Agreement.

 

(m)            
Blue Sky. The Company will, prior to any public offering of Registrable Securities, use its reasonable best efforts
to register or qualify or cooperate with the selling Holders or Managing Underwriters, in the case of a Demand Underwritten Offering,
in connection with the registration or qualification (or exemption from such registration or qualification) of such Registrable
Securities for offer and sale under the securities or blue sky laws (“Blue Sky”) of all jurisdictions
within the United States that the selling Holders or Managing Underwriters, in the case of a Demand Underwritten Offering, request
in writing be covered, to keep each such registration or qualification (or exemption therefrom) effective during the applicable
Effectiveness Period and to do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions
of the Registrable Securities covered by any Registration Statement, including in connection with a Demand Underwritten Offering;
provided, that the Company will not be required to qualify generally to do business in any jurisdiction where it is not then so
qualified or to become subject to any material tax in any such jurisdiction where it is not then so subject.

 

(n)              
Subsequent Form S-3. If, at the time of filing of a Registration Statement, the Company is not eligible to use
Form S-3 for transactions involving secondary offerings and the Company is not otherwise eligible to incorporate by reference prospectively
into such Registration Statement, then at such time as the Company becomes eligible to register transactions involving secondary
offerings on Form S-3, the Company may, in its sole discretion, file in accordance with the procedures outlined in this Section
3, including but not limited to all required notices to the Holders, an additional Registration Statement on Form S-3 to cover
resales pursuant to Rule 415 of the Registrable Securities (a “Subsequent Form S-3”), and, when such
Subsequent Form S-3 has been filed with the Commission, the Company may, concurrently with its filing of a request for acceleration
of effectiveness of such Subsequent Form S-3, withdraw or terminate the original Registration Statement; provided, however, that
nothing in this Section 3(n) will be interpreted to limit the Company’s obligations pursuant to Section 2(a).

 

(o)              
Certain Covenants Relating to Underwritten Offerings. The following covenants will apply, in each case to the
extent applicable, in connection with any Demand Underwritten Offering:

 

(i)                 Underwriting
Agreement and Related Matters. The Company will (1) execute and deliver any customary underwriting agreement or other
agreement or instrument reasonably requested by the Managing Underwriters for such offering; (2) use its commercially
reasonable efforts to cause such customary legal opinions, comfort letters, “lock-up” agreements and
officers’ certificates to be delivered in connection therewith; and (3) cooperate in good faith with such Managing
Underwriters in connection with the disposition of Registrable Securities pursuant to such offering.

 

    12

     

    

 

(ii)              
Marketing and Roadshow Matters. The Company will cooperate in good faith with the Managing Underwriters for such
offering in connection with any marketing activities relating to such offering, including any roadshow.

 

(iii)            
FINRA Matters. The Company will cooperate and assist in any filings required to be made with FINRA in connection
with such offering.

 

		4.	Registration Expenses.

 

All fees and expenses
incident to the performance of or compliance with this Agreement by the Company will be borne by the Company whether or not any
Registrable Securities are sold pursuant to a Registration Statement including, without limitation: (i) all registration and filing
fees (including, without limitation, fees and expenses (A) with respect to filings required to be made with any Trading Market
on which the Common Stock is then listed for trading, (B) related to compliance with applicable state securities or Blue Sky laws
and (C) incurred in connection with the preparation or submission of any filing with FINRA); (ii) printing expenses (including,
without limitation, expenses of printing certificates for Registrable Securities and of printing Prospectuses); (iii) messenger,
telephone and delivery expenses; (iv) fees and disbursements of counsel for the Company and counsel pursuant to Section 3(l); (v)
Securities Act liability insurance, if the Company so desires such insurance; (vi) fees and expenses of all other persons retained
by the Company in connection with the consummation of the transactions contemplated by this Agreement and (vii) all of the Company’s
own internal expenses incurred in connection with the consummation of the transactions contemplated by this Agreement (including,
without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expense
of any annual audit and the fees and expenses incurred in connection with the listing of the Registrable Securities on any securities
exchange as required hereunder; provided, however, that each selling Holder will pay (i) all underwriting discounts, commissions,
fees and expenses and all transfer taxes with respect to the Registrable Securities sold by such selling Holder; (ii) any fees
and expenses of legal counsel other than the counsel selected pursuant to Section 3(l) and (iii) all other expenses incurred by
such selling Holder and incidental to the sale and delivery of the shares to be sold by such Holder.

 

		5.	Indemnification.

 

(a)               Indemnification
by the Company. The Company will, notwithstanding any termination of this Agreement, indemnify and hold harmless each
Holder, the officers, directors, partners, members and shareholders of each Holder and each person who controls any Holder
(within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the directors and officers of
any such controlling persons, to the fullest extent permitted by applicable law, from and against any and all losses, claims,
damages, liabilities, costs (including, without limitation, reasonable costs of preparation and reasonable attorneys’
fees) and expenses (collectively, “Losses”), as incurred, arising out of or based upon, in the case
of the Registration Statement or in any amendments thereto, any untrue or alleged untrue statement of a material fact
contained therein or any omission or alleged omission to state therein a material fact required to be stated therein to make
the statements not misleading, or in the case of any Prospectus or form of prospectus, or in any amendment or supplement
thereto, or in any preliminary prospectus, any untrue or alleged untrue statement of a material fact contained therein or any
omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made, not misleading, except to the extent, but only
to the extent, that such untrue statements or omissions (1) are made in reliance upon and in conformity with written
information furnished to the Company by or on behalf of any Holder expressly for use in a Registration Statement, or to the
extent that such information relates to such Holder or such Holder’s proposed method of distribution of Registrable
Securities and was reviewed and approved in writing by such Holder for use in the Registration Statement, such Prospectus or
such form of Prospectus (it being understood and agreed that the only such information furnished to the Company by or on
behalf of any Holder consists of the information described in Annex A hereto, as may be amended in accordance with the
provisions of this Agreement, for this purpose) or (2) resulted from the use by any Holder of an outdated or defective
Prospectus after the Company has notified such Holder in writing that such Prospectus is outdated or defective and prior to
the receipt by such Holder of an Advice or an amended or supplemented Prospectus, but only if and to the extent that
following the receipt of the Advice or the amended or supplemented Prospectus the misstatement or omission giving rise to
such Loss would have been corrected.

 

    13

     

    

 

(b)              
Indemnification by Holders. Each Holder will, severally and not jointly, indemnify and hold harmless the Company, its
directors, officers, partners, members and shareholders and each person who controls the Company (within the meaning of Section
15 of the Securities Act or Section 20 of the Exchange Act) and the directors and officers of such controlling person, in each
case to the fullest extent permitted by applicable law from and against all Losses, as incurred, arising solely out of or based
upon, in the case of the Registration Statement or in any amendments thereto, any untrue or alleged untrue statement of a material
fact contained therein or any omission or alleged omission to state therein a material fact required to be stated therein to make
the statements not misleading, or in the case of any Prospectus or form of prospectus, or in any amendment or supplement thereto,
or in any preliminary prospectus, any untrue or alleged untrue statement of a material fact contained therein or any omission or
alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading to the extent, but only to the extent, that such untrue statements
or omissions (1) are made in reliance upon and in conformity with written information furnished to the Company by or on behalf
of any Holder expressly for use in a Registration Statement or Prospectus, or to the extent that such information relates to such
Holder or such Holder’s proposed method of distribution of Registrable Securities and was reviewed and approved in writing
by such Holder for use in the Registration Statement or Prospectus (it being understood and agreed that the only such information
furnished to the Company by or on behalf of any Holder consists of the information described in Annex A hereto, as may be amended
in accordance with the provisions of this Agreement, for this purpose) or (2) resulted from the use by such Holder of an outdated
or defective Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated or defective and
prior to the receipt by such Holder of an Advice or an amended or supplemented Prospectus, but only if and to the extent that following
the receipt of the Advice or the amended or supplemented Prospectus the misstatement or omission giving rise to such Loss would
have been corrected; provided, however, that the obligation to indemnify will be several and not joint and in no event will the
liability of any selling Holder hereunder be greater in amount than the dollar amount of the net proceeds received by any such
selling Holder upon the sale of the Registrable Securities under the Registration Statement giving rise to such indemnification
obligation.

 

(c)                Conduct
of Indemnification Proceedings. In order for a Person (the “Indemnified Party”) to be entitled
to any indemnification provided for under this Agreement in respect of, arising out of or involving a claim or demand made by
any Person against the Indemnified Party (a “Claim”), such Indemnified Party must notify the
indemnifying party (“Indemnifying Party”) in writing, and in reasonable detail, of the Claim as
promptly as reasonably possible after receipt by such Indemnified Party of notice of the Claim; provided, however, that
failure to give such notification on a timely basis shall not affect the indemnification provided hereunder except to the
extent the Indemnifying Party shall have been actually materially prejudiced as a result of such failure. Thereafter, the
Indemnified Party shall deliver to the Indemnifying Party, promptly after the Indemnified Party’s receipt thereof,
copies of all notices and documents (including court filings and related papers) received by the Indemnified Party relating
to the Claim.

 

    14

     

    

 

If a Claim is made
against an Indemnified Party, the Indemnifying Party shall be entitled to participate in the defense thereof and, if it so chooses
and acknowledges its obligation in writing to indemnify the Indemnified Party therefor, to assume at its cost the defense thereof
with counsel selected by the Indemnifying Party and reasonably satisfactory to the Indemnified Party and to settle such suit, action,
claim or proceeding in its discretion with an unconditional full release of the Indemnified Party and no admission of fault, liability,
culpability or a failure to act by or on behalf of the Indemnified Party. Notwithstanding any acknowledgment made pursuant to the
immediately preceding sentence, the Indemnifying Party shall continue to be entitled to assert any limitation to the amount of
Losses for which the Indemnifying Party is responsible pursuant to its indemnification obligations. Should the Indemnifying Party
so elect to assume the defense of a Claim, the Indemnifying Party shall not be liable to the Indemnified Party for legal expenses
subsequently incurred by the Indemnified Party in connection with the defense thereof unless (i) the Indemnifying Party has materially
failed to defend, contest or otherwise protest in a timely manner against Claims or (ii) such Indemnified Party reasonably objects
to such assumption on the grounds that there are defenses available to it which are different from or in addition to the defenses
available to such Indemnifying Party and, as a result, a conflict of interest exists. Subject to the limitations in the preceding
sentence, if the Indemnifying Party assumes such defense, the Indemnified Party shall have the right to participate in the defense
thereof and to employ counsel, at its own expense, separate from the counsel employed by the Indemnifying Party, it being understood,
however, that the Indemnifying Party shall control such defense. The Indemnifying Party shall be liable for the fees and expenses
of counsel employed by the Indemnified Party for any period during which the Indemnifying Party has not assumed the defense thereof.
If the Indemnifying Party chooses to defend any Claim, all the parties hereto shall cooperate in the defense or prosecution of
such Claim. Such cooperation shall include the retention and (upon the Indemnifying Party’s request) the provision to the
Indemnifying Party of records and information which are reasonably relevant to such Claim, and making employees available on a
mutually convenient basis to provide additional information and explanation of any material provided hereunder. Whether or not
the Indemnifying Party shall have assumed the defense of a Claim, the Indemnified Party shall not admit any liability with respect
to, or settle, compromise or discharge, such Claim without the Indemnifying Party’s prior written consent (which consent
shall not be unreasonably withheld).

 

The obligations of
the Company and the Holders under this Section 5 shall survive completion of any offering of Registrable Securities pursuant to
a Registration Statement and the termination of this Agreement. The Indemnifying Party’s liability to any such Indemnified
Party hereunder shall not be extinguished solely because any other Indemnified Party is not entitled to indemnity hereunder.

 

(d)               Contribution.
If a claim for indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified Party (by reason of public policy
or otherwise), then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, will contribute to the amount
paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the
relative fault of the Indemnifying Party and Indemnified Party in connection with the actions, statements or omissions that
resulted in such Losses as well as any other relevant equitable considerations. The relative fault of such Indemnifying Party
and Indemnified Party will be determined by reference to, among other things, whether any action in question, including any
untrue or alleged untrue statement of a material fact or omission or alleged omission of a material fact, has been taken or
made by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such action, statement or omission. The amount
paid or payable by a party as a result of any Losses will be deemed to include, subject to the limitations set forth in
Section 5(c), any reasonable attorneys’ or other reasonable fees or expenses incurred by such party in connection with
any Proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification provided
for in Section 5(a) or 5(b) was available to such party in accordance with its terms. The parties hereto agree that it would
not be just and equitable if contribution pursuant to this Section 5 were determined by pro rata allocation or by any other
method of allocation that does not take into account the equitable considerations referred to in this Section 5.
Notwithstanding the provisions of this Section 5, no Holder will be required to contribute, in the aggregate, any amount in
excess of the amount by which the proceeds actually received by such Holder from the sale of the Registrable Securities
subject to the Proceeding exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not
guilty of such fraudulent misrepresentation.

 

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(e)               
Other. The indemnity and contribution agreements contained in this Section 5 are in addition to any liability that the
Indemnifying Parties may have to the Indemnified Parties.

 

		6.	Miscellaneous.

 

(a)              
Notices. All notices or other communications hereunder will be in writing and will be given by (i) personal delivery,
(ii) courier or other delivery service which obtains a receipt evidencing delivery, (iii) registered or certified mail (postage
prepaid and return receipt requested) or (iv) facsimile or similar electronic device, to such address as may be designated from
time to time by the relevant party, and which will initially be:

 

(i)           
in the case of the Company:

 

Senseonics Holdings, Inc.

24051 Seneca Meadows Parkway

Germantown, MD 20876

Facsimile: (301) 515-0988

Attention: Chief Financial Officer

 

With a copy to:

 

Cooley LLP

11951 Freedom Drive

Reston, VA 20190

Facsimile: (703) 456-8100

Attention: Christian E. Plaza

 

(ii)           
in the case of each Purchaser, to the address described in Section 5.4 of the Purchase Agreement.

 

Notices to Holders
shall be provided to the address specified on such Holder’s Selling Holder Questionnaire. All notices and other communications
will be deemed to have been given (i) if delivered by the United States mail, three (3) Business Days after mailing (five (5) Business
Days if delivered to an address outside of the United States), (ii) if delivered by a courier or other delivery service, one (1)
Business Day after dispatch (two (2) Business Days if delivered to an address outside of the United States) and (iii) if personally
delivered or sent by facsimile or similar electronic device, upon receipt by the recipient or its agent or employee (which, in
the case of a notice sent by facsimile or similar electronic device, will be the time and date indicated on the transmission confirmation
receipt). No objection may be made by a party to the manner of delivery of any notice actually received in writing by an authorized
agent of such party.

 

    16

     

    

 

(b)              
 Governing Law; Jurisdiction; Jury Trial; etc. This Agreement shall be governed by, and construed in accordance with,
the internal laws of the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and
federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection
herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert
in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such
suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action
or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that
such service will constitute good and sufficient service of process and notice thereof. Nothing contained herein will be deemed
to limit in any way any right to serve process in any manner permitted by law. Each party hereby irrevocably waives any right it
may have, and agrees not to request, a jury trial for the adjudication of any dispute hereunder or in connection with or arising
out of this Agreement or any transaction contemplated hereby.

 

(c)               
Remedies. In the event of a breach by the Company of its obligations under this Agreement, each Holder, in addition
to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance
of its rights under this Agreement. The Company agrees that monetary damages would not be adequate compensation for any loss incurred
by reason of a breach by it of any of the provisions of this Agreement and hereby waives the defense in any action for specific
performance that a remedy at law would be adequate.

 

(d)              
Complete Agreement; Modifications. This Agreement and any documents referred to herein or executed contemporaneously
herewith constitute the parties’ entire agreement with respect to the subject matter hereof and supersede all agreements,
representations, warranties, statements, promises and understandings, whether oral or written, with respect to the subject matter
hereof. This Agreement may be amended, altered or modified only by a writing signed by the Company and the Holders of a majority
of the Registrable Securities then outstanding.

 

(e)               
Additional Documents. Each party hereto agrees to execute any and all further documents and writings and to perform
such other actions which may be or become necessary or expedient to effectuate and carry out this Agreement.

 

(f)               
Third-Party Beneficiaries. None of the provisions of this Agreement will be for the benefit of, or enforceable by, any
third-party beneficiary, except with respect to the Holders.

 

(g)              
Successors and Assigns. Except as provided herein to the contrary, this Agreement will be binding upon and inure to
the benefit of the parties, their respective successors and permitted assigns.

 

(h)              
Waivers Strictly Construed. With regard to any power, remedy or right provided herein or otherwise available to any
party hereunder (a) no waiver or extension of time will be effective unless expressly contained in a writing signed by the waiving
party and (b) no alteration, modification or impairment will be implied by reason of any previous waiver, extension of time, delay
or omission in exercise, or other indulgence.

 

(i)                
Severability. The validity, legality or enforceability of the remainder of this Agreement will not be affected even
if one or more of the provisions of this Agreement will be held to be invalid, illegal or unenforceable in any respect.

 

(j)                Attorneys’
Fees. Should any litigation be commenced (including any proceedings in a bankruptcy court) between the parties hereto or
their representatives concerning any provision of this Agreement or the rights and duties of any person or entity hereunder,
the party or parties prevailing in such proceeding will be entitled, in addition to such other relief as may be granted, to
the attorneys’ fees and court costs incurred by reason of such litigation.

 

    17

     

    

 

(k)              
Headings. The Section headings in this Agreement are inserted only as a matter of convenience, and in no way define,
limit, extend or interpret the scope of this Agreement or of any particular Section.

 

(l)                
Counterparts. This Agreement may be executed simultaneously in two or more counterparts, each of which will be deemed
an original, but all of which together will constitute one and the same instrument.

 

[Remainder of Page Intentionally
Left Blank, Signature Pages to Follow]

 

    18

     

    

 

IN WITNESS WHEREOF, the parties
have executed this Resale Registration Rights Agreement as of the date first written above.

 

	 	SENSEONICS HOLDINGS, INC.
	 	 
	 	By: 	/s/ Tim Goodnow
	 	Name: Timothy T. Goodnow
	 	Title: President and CEO

 

[Signature Page to Resale Registration Rights Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, the parties have executed this Resale
Registration Rights Agreement as of the date first written above.

 

	 	PURCHASERS: 
	 	 
	 	MARLIN
    FUND, LIMITED PARTNERSHIP
	 	 
	 	By:	/s/
    Michael W. Masters
	 	Name:
    Michael W. Masters
	 	Title:
    Managing Member of the General Partner
	 	 
	 	MARLIN
    FUND II, LIMITED PARTNERSHIP
	 	 
	 	By:	/s/
    Michael W. Masters
	 	Name:
    Michael W. Masters
	 	Title:
    Managing Member of the General Partner
	 	 
	 	MASTERS
    SPECIAL SITUATIONS, LLC
	 	 
	 	By: 	/s/ Michael W. Masters
	 	Name:
    Michael W. Masters
	 	Title:
    Managing Member

 

[Signature Page to Resale Registration Rights Agreement]

 

     

     

    

 

 

PLAN OF DISTRIBUTION

 

We are registering
the Securities covered by this prospectus on behalf of the Selling Securityholders. All costs, expenses and fees connected with
the registration of these Securities will be borne by us. Any brokerage commissions and similar expenses connected with selling
the Securities will be borne by the Selling Securityholders. The Selling Securityholders may offer and sell the Securities covered
by this prospectus from time to time in one or more transactions. The term “Selling Securityholders”
includes pledgees, donees, transferees and other successors-in-interest who may acquire Securities through a pledge, gift, partnership
distribution or other non-sale related transfer from the Selling Securityholders. The Selling Securityholders will act independently
of the Company in making decisions with respect to the timing, manner and size of each sale. These transactions include:

 

		·	through one or more underwriters or dealers in a public offering and sale by them, whether individually
or through an underwriting syndicate led by one or more managing underwriters;

 

		·	in “at the market offerings” within the meaning of Rule 415(a)(4) under the Securities
Act, to or through a market maker or into an existing trading market, on an exchange or otherwise;

 

		·	directly to a limited number of purchasers or to a single purchaser;

 

		·	through agents;

 

		·	by delayed delivery contracts or by remarketing firms;

 

		·	ordinary brokerage transactions and transactions in which the broker solicits purchasers;

 

		·	purchases by a broker-dealer as principal and resale by the broker-dealer for its own account pursuant
to this prospectus;

 

		·	exchange or over-the-counter distributions in accordance with the rules of the exchange or other
market;

 

		·	block trades in which the broker-dealer attempts to sell the Securities as agent but may position
and resell a portion of the block as principal to facilitate the transaction, or in crosses, in which the same broker acts as agent
on both sides of the trade;

 

		·	transactions in options, swaps or other derivatives that may or may not be listed on an exchange;

 

		·	through distributions by a Selling Securityholder or its successors in interest to its members,
general or limited partners or shareholders (or their respective members, general or limited partners or shareholders);

 

		·	a combination of any such method of sale; or

 

		·	any other method permitted pursuant to applicable law.

 

    1

     

    

 

In connection with
distributions of the Securities or otherwise, the Selling Securityholders may:

 

		·	sell the Securities:

 

		·	in negotiated transactions;

 

		·	in one or more transactions at a fixed price or prices, which may be changed from time to time;

 

		·	at market prices prevailing at the times of sale;

 

		·	at prices related to such prevailing market prices; or

 

		·	at negotiated prices;

 

		·	sell the Securities:

 

		·	on a national securities exchange;

 

		·	in the over-the-counter market; or

 

		·	in transactions otherwise than on an exchange or in the over-the-counter market, or in combination;

 

		·	sell the Securities short and/or deliver the Securities to close out short positions;

 

		·	enter into option or other transactions with broker-dealers or other financial institutions which
require the delivery to them of Securities covered by this prospectus, which they may in turn resell; and

 

		·	pledge Securities to broker-dealers or other financial institutions, which, upon a default, they
may in turn resell.

 

The Selling Securityholders
may also resell all or a portion of the Securities in open market transactions in reliance upon Rule 144 under the Securities Act
of 1933, as amended, or the Securities Act, as permitted by that rule, Section 4(a)(1) under the Securities Act, if available,
or any other exemption from the registration requirements that become available, rather than under this prospectus.

 

If underwriters are
used in the sale of any Securities, such Securities will be acquired by the underwriters for their own account and may be resold
from time to time in one or more transactions described above. Securities may be either offered to the public through underwriting
syndicates represented by managing underwriters or directly by underwriters. We may use underwriters with whom we have a material
relationship. As applicable, we will describe in each accompanying prospectus supplement the name of the underwriter(s) and the
nature of any such relationship(s).

 

If a dealer is used
in an offering of Securities, the dealer may purchase the securities, as principal. The dealer may then resell the Securities to
the public at varying prices to be determined by the dealer at the time of sale.

 

Securities may be sold
directly or through agents designated from time to time. We will name any agent involved in the offering and sale of such shares
and we will describe any commissions paid to the agent in the prospectus supplement. Unless the prospectus supplement states otherwise,
the agent will act on a best-efforts basis for the period of its appointment.

 

Underwriters,
dealers and agents may be entitled to indemnification by us against certain civil liabilities, including liabilities under
the Securities Act, or to contribution with respect to payments made by the underwriters, dealers or agents, under agreements
between us and the underwriters, dealers and agents.

 

    2

     

    

 

Underwriters who participate
in the distribution of Securities may be granted an option to purchase additional Securities in connection with the distribution.

 

Underwriters, dealers
or agents may receive compensation in the form of discounts, concessions or commissions from us or our purchasers, as their agents
in connection with the sale of securities. These underwriters, dealers or agents may be considered to be underwriters under the
Securities Act. As a result, discounts, commissions or profits on resale received by the underwriters, dealers or agents may be
treated as underwriting discounts and commissions. Each accompanying prospectus supplement will identify any such underwriter,
dealer or agent and describe any compensation received by them from us. Any initial public offering price and any discounts or
concessions allowed or re-allowed or paid to dealers may be changed from time to time.

 

In connection with
sales of Securities, the Selling Securityholders may enter into hedging transactions with broker-dealers or other financial institutions,
which may in turn engage in short sales of Securities in the course of hedging in positions they assume. The Selling Securityholders
may also sell Securities short and the Selling Securityholders may deliver Securities covered by this prospectus to close out short
positions and to return borrowed Securities in connection with such short sales. The Selling Securityholders may also loan or pledge
Securities to broker-dealers that in turn may sell such Securities, to the extent permitted by applicable law. The Selling Securityholders
may also enter into option or other transactions with broker-dealers or other financial institutions or the creation of one or
more derivative securities which require the delivery to such broker-dealer or other financial institution of Securities offered
by this prospectus, which Securities such broker-dealer or other financial institution may resell pursuant to this prospectus (as
supplemented or amended to reflect such transaction).

 

The Selling Securityholders
may, from time to time, pledge or grant a security interest in some or all of the Securities owned by them and, if they default
in the performance of their secured obligations, the pledgees or secured parties may offer and sell the Securities from time to
time pursuant to this prospectus or any amendment to this prospectus under Rule 424(b)(3) or other applicable provision of the
Securities Act, amending, if necessary, the list of Selling Securityholders to include the pledgee, transferee or other successors
in interest as Selling Securityholders under this prospectus. The Selling Securityholders may also may transfer and donate Securities
in other circumstances in which case the transferees, donees, pledgees or other successors in interest will be the selling beneficial
owners for purposes of this prospectus.

 

A Selling Securityholder
that is an entity may elect to make an in-kind distribution of Securities to its members, general or limited partners or shareholders
pursuant to the registration statement of which this prospectus is a part by delivering a prospectus. To the extent that such members,
general or limited partners or shareholders are not affiliates of ours, such members, partners or shareholders would thereby receive
freely tradable Securities pursuant to the distribution through a registration statement. Additionally, to the extent that entities,
members, partners or shareholders are affiliates of ours received shares in any such distribution, such affiliates will also be
Selling Securityholders and will be entitled to sell Securities pursuant to this prospectus.

 

Any underwriter may
engage in over-allotment transactions, stabilizing transactions, short-covering transactions and penalty bids in accordance with
Regulation M under the Exchange Act of 1934.

 

Underwriters, broker-dealers
or agents who may become involved in the sale of Securities may engage in transactions with, and perform other services for, us
in the ordinary course of their business for which they receive compensation.

 

    3

     

    

 

In effecting sales,
the Selling Securityholders may engage broker-dealers or agents, who may in turn arrange for other broker-dealers to participate.
Broker-dealers or agents may receive commissions, discounts or concessions from the Selling Securityholders and/or from the purchasers
of Securities for whom the broker-dealers may act as agents or to whom they sell as principal, or both. The compensation to a particular
broker-dealer may be in excess of customary commissions. To our knowledge, there is currently no plan, arrangement or understanding
between any Selling Securityholders and any broker-dealer or agent regarding the sale of any Securities by the Selling Securityholders.

 

The Selling Securityholders,
any broker-dealers or agents and any participating broker-dealers that act in connection with the sale of the Securities covered
by this prospectus may be “underwriters” under the Securities Act with respect to those Securities and will be subject
to the prospectus delivery requirements of that Act. Any profit that the Selling Securityholders realize, and any compensation
that any broker-dealer or agent may receive in connection with any sale, including any profit realized on resale of Securities
acquired as principal, may constitute underwriting discounts and commissions. If the Selling Securityholders are deemed to be underwriters,
the Selling Securityholders may be subject to certain liabilities under statutes including, but not limited to, Section 11, 12
and 17 of the Securities Act and Section 10(b) and Rule 10b-5 under the Exchange Act.

 

The securities laws
of some states may require the Selling Securityholders to sell the Securities in those states only through registered or licensed
brokers or dealers. These laws may also require that we register or qualify the Securities for sale in those states unless an exemption
from registration and qualification is available and the Selling Securityholders and we comply with that exemption. In addition,
the anti-manipulation rules of Regulation M under the Securities Exchange Act of 1934 may apply to sales of Securities in the market
and to the activities of the Selling Securityholders and their affiliates. Regulation M may restrict the ability of any person
engaged in the distribution of the Securities to engage in market-making activities with respect to the Securities. All of the
foregoing may affect the marketability of the Securities and the ability of any person to engage in market-making activities with
respect to the Securities.

 

If any Selling Securityholder
notifies us that he has entered into any material arrangement with a broker-dealer for the sale of Securities through a block trade,
special offering, exchange distribution, over-the-counter distribution or secondary distribution, or a purchase by a broker
or dealer, we will file any necessary supplement to this prospectus to disclose:

 

		·	the number of Securities involved in the arrangement;

 

		·	the terms of the arrangement, including the names of any underwriters, dealers or agents who purchase
Securities, as required;

 

		·	the proposed selling price to the public;

 

		·	any discount, commission or other underwriting compensation;

 

		·	the place and time of delivery for the Securities being sold;

 

		·	any discount, commission or concession allowed, reallowed or paid to any dealers; and

 

		·	any other material terms of the distribution of Securities.

 

In
addition, if the Selling Securityholder notifies us that a donee, pledgee, transferee or other successor-in-interest of the Selling
Securityholder intends to sell any securities, we will file an amendment to the registration statement of which this prospectus
forms a part of or a supplement to this prospectus, if required.

 

    4

     

    

 

SENSEONICS HOLDINGS, INC.

 

SELLING SECURITYHOLDER NOTICE AND QUESTIONNAIRE

 

The undersigned beneficial
owner of common stock, $0.001 par value per share (the “Common Stock”) and/or securities, of Senseonics Holdings,
Inc. (the “Company”) understands that the Company has filed or intends to file with the Securities and Exchange
Commission (the “Commission”) a Registration Statement for the registration and resale of the Registrable Securities,
in accordance with the terms of the Registration Rights Agreement, dated as of August 9, 2020 (the “Registration Rights
Agreement”), among the Company and the Purchasers (as defined therein). A copy of the Registration Rights Agreement is
available from the Company upon request at the address set forth below. All capitalized terms used and not otherwise defined herein
will have the meanings ascribed thereto in the Registration Rights Agreement.

 

The undersigned hereby
provides the following information to the Company and represents and warrants that such information is accurate:

 

		1.	Name.

 

		(a)	Full Legal Name of Selling Securityholder
	 	 	 
		(b)	Full Legal Name of Registered Holder (if not the same as (a) above) through which Registrable Securities
Listed in Item 3 below are held:
	 	 	 
		(c)	Full Legal Name of Natural Control Person (which means a natural person who directly or indirectly
alone or with others has power to vote or dispose of the securities covered by the questionnaire):
	 	 	 

 

		2.	Address for Notices to Selling Securityholder:

 

	 	Name:	 
	 	Address:	 
	 	  	 
	 	Telephone:	 
	 	Fax:	 
	 	Contact Person:	 

 

		3.	Beneficial Ownership of Registrable Securities:

 

		(a)	Type and Amount of Registrable Securities Beneficially Owned:
	 	 	 

 

    5

     

    

 

		4.	Broker-Dealer Status:

 

		(a)	Are you a broker-dealer?

 

Yes  ̈
 No  ̈ 

 

Note: If yes, the Commission’s
staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

		(b)	Are you an affiliate of a broker-dealer?

 

Yes  ̈
 No  ̈ 

 

		(c)	If you are an affiliate of a broker-dealer, do you certify that you bought the Registrable Securities
in the ordinary course of business, and at the time of the purchase of the Registrable Securities to be resold, you had no agreements
or understandings, directly or indirectly, with any person to distribute the Registrable Securities?

 

Yes  ̈
 No  ̈ 

 

Note: If no, the Commission’s
staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

		5.	Beneficial Ownership of Other Securities of the Company Owned by the Selling Securityholder.

 

Except as set forth below in
this Item 5, the undersigned is not the beneficial or registered owner of any securities of the Company other than the Registrable
Securities listed above in Item 3.

 

Type and Amount of Other Securities
Beneficially Owned by the Selling Securityholder:

 

		 	 

		 	 

		 	 

 

		6.	Relationships with the Company:

 

Except as set forth
below, neither the undersigned nor any of its affiliates, officers, directors or principal equity holders (owners of 5% of more
of the equity securities of the undersigned) has held any position or office or has had any other material relationship with the
Company (or its predecessors or affiliates) during the past three years.

 

	 	 	State any exceptions here:	 
	 	 	 
	 	 	 

 

The undersigned agrees
to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the
date hereof and prior to the Effective Date for the Registration Statement.

 

    6

     

    

 

By signing below, the
undersigned consents to the disclosure of the information contained herein in its answers to Items 1 through 6 and the inclusion
of such information in the Registration Statement and the related prospectus. The undersigned understands that such information
will be relied upon by the Company in connection with the preparation or amendment of the Registration Statement and the related
prospectus.

 

    7

     

    

  

IN WITNESS WHEREOF
the undersigned, by authority duly given, has caused this Notice and Questionnaire to be executed and delivered either in person
or by its duly authorized agent.

 

	Dated:	Beneficial Owner:
	 	 
	 	 
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

PLEASE FAX A COPY OF THE COMPLETED
AND EXECUTED NOTICE AND

 QUESTIONNAIRE, AND RETURN THE ORIGINAL BY OVERNIGHT MAIL, TO:

 

Senseonics
Holdings, Inc.

24051 Seneca Meadows Parkway

Germantown, MD 20876

Facsimile: (301) 515-0988

Attention: Chief Financial Officer

 

    8Exhibit 4.3

 

 

INVESTOR RIGHTS AGREEMENT

 

by and among

 

SENSEONICS HOLDINGS, INC.

 

and

 

PHC HOLDINGS CORPORATION

 

Dated as of August 9, 2020

 

 

     

     

    

 

TABLE OF CONTENTS

Page

 

	ARTICLE I GOVERNANCE	2
	 	 
	 	1.1	Board of Directors	2
	 	1.2	Board Nominees	3
	 	 	 
	ARTICLE II RIGHT OF PURCHASE	3
	 	 
	 	2.1	Right of Purchase	3
	 	2.2	Post Closing Notice	4
	 	 	 
	ARTICLE III REPRESENTATIONS AND WARRANTIES	5
	 	 
	 	3.1	Representations and Warranties of the Purchasers	5
	 	3.2	Representations and Warranties of the Company	5
	 	 	 
	ARTICLE IV DEFINITIONS	6
	 	 
	 	4.1	Defined Terms	6
	 	4.2	Terms Generally	9
	 	 	 
	ARTICLE V MISCELLANEOUS	9
	 	 
	 	5.1	Term	9
	 	5.2	Amendments and Waivers	9
	 	5.3	Successors and Assigns	9
	 	5.4	Severability	10
	 	5.5	Counterparts	10
	 	5.6	Entire Agreement	10
	 	5.7	Governing Law; Jurisdiction	10
	 	5.8 	WAIVER OF JURY TRIAL	10
	 	5.9	Specific Performance	10
	 	5.10	No Third-Party Beneficiaries	10
	 	5.11	Notices	11

 

    i

     

    

 

INVESTOR RIGHTS AGREEMENT,
dated as of August 9, 2020 (as may be amended from time to time, this “Agreement”), by and among Senseonics
Holdings, Inc., a Delaware corporation (the “Company”), PHC Holdings Corporation (“PHC Holdings”)
and any other Purchaser (as defined below) otherwise a party hereto from time to time.

 

W I T N E S S E T H:

 

WHEREAS, the Company
and the Purchasers have entered into a Note Purchase Agreement, dated as of August 9, 2020 (as may be amended from time to time,
the “Purchase Agreement”), pursuant to which, among other things, the Company is issuing to the Purchasers Secured
Promissory Notes (the “Notes”) and shares of Common Stock (the “Shares”);

 

WHEREAS, simultaneously
with the execution and delivery of this Agreement by the parties, the Company and the Purchasers have entered into a Registration
Rights Agreement, dated as of August 9, 2020 (as may be amended from time to time, the “Registration Rights Agreement”),
pursuant to which, among other things, the Company grants the Purchasers certain registration and other rights with respect to
the Notes, the shares of Common Stock issued upon any conversion of the Notes, and the Shares; and

 

WHEREAS, each of the
parties wishes to set forth in this Agreement certain terms and conditions regarding ownership of the Notes and the Shares;

 

NOW, THEREFORE, in consideration
of circumstances recited above and the mutual covenants, representations, warranties and agreements contained in this Agreement,
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally
bound hereby, the parties agree as follows:

 

     

     

    

 

ARTICLE
I

 

GOVERNANCE

 

1.1             
Board of Directors.

 

(a)               At
or prior to the Appointment Date, the board of directors of the Company (the “Board”) shall expand its
size by two (2) members, if necessary, to create a vacancy for two (2) qualified nominees of PHC Holdings. PHC Holdings shall
have the right to designate, subject to the terms and conditions of this Section 1.1, the number of nominees to the Board as
set forth below in Section 1.2 (each a “Board Nominee”). The Board shall in good faith consider whether
any such nominee is (i) qualified and suitable to serve as a member of the Board under all applicable corporate governance
policies and guidelines of the Company and the Board and applicable legal, regulatory and stock exchange requirements and
(ii) meets the independence requirements of The NYSE American and any other stock exchange on which the Common Stock may be
listed in the future. The Board and the appropriate committees of the Board shall conduct the consideration of the
qualifications, suitability and independence of the Board Nominees, and make any determinations with respect thereto in a
manner consistent with considerations and determinations in respect of other members of the Board. PHC Holdings shall cause
each Board Nominee to make himself or herself reasonably available for interviews, to consent to such reference and
background checks or other investigations and to provide such information (including information necessary to determine the
nominee’s independence status under various requirements and institutional investor guidelines as well as information
necessary to determine any disclosure obligations of the Company) as the Board or any committee thereof may reasonably
request; provided that in each such case, all such interviews, investigations and information are generally required to be
delivered to the Company by the other outside directors of the Company. If the Board determines that the Board Nominees are
qualified and suitable to serve as a member of the Board under all applicable corporate governance policies and guidelines of
the Company and the Board and applicable legal, regulatory and stock exchange requirements, then the Board shall appoint such
initial Board Nominees to the Board (the date of such appointment, the “Appointment Date”).
Notwithstanding the foregoing, it is understood and agreed that such review with respect to the initial two Board Nominees
will be completed promptly and, in any event, prior to the date of the next meeting of the Board, which shall be no later
than September 30, 2020. Provided that the Board Nominees then meet such requirements, and so long as PHC Holdings shall
continue to be entitled to nominate directors pursuant to Section 1.2, the Company shall nominate the Board Nominees for
re-election as directors at the end of each term of such Board Nominee as part of the slate proposed by the Company that is
included in the proxy statement (or consent solicitation or similar document) of the Company relating to the election of the
Board. In the event that the Board determines that any Board Nominee does not meet the foregoing requirements, or if a Board
Nominee ceases to be a member of the Board at any time and for any reason, so long as PHC Holdings shall be entitled to
nominate directors pursuant to Section 1.2, PHC Holdings may select another person as a designee for Board Nominee and, if
the Board determines that such nominee meets the criteria set forth above, such designee shall become a Board Nominee and
shall be promptly appointed by the Board. The Board shall undertake any review of any such new nominee by PHC Holdings in
accordance with this paragraph and shall complete such review promptly, and in any event within ten (10) business days.
Notwithstanding anything else contained in this Agreement to the contrary, if at any time following Closing, a Board Nominee
is not a member of the Board for any reason and a new Board Nominee has not been appointed, PHC Holdings shall be entitled to
designate an observer at meetings of the Board and all committees thereof on which another Board Nominee does not sit, and
the Company shall provide all materials that are provided to other members of the Board in connection with such meetings to
the observer, unless such attendance or the provision of such materials would result in an actual conflict of interest or
violate any of the applicable corporate governance policies and guidelines or applicable legal, regulatory or stock exchange
requirements or would result in the loss of attorney-client privilege.

 

(b)              
One (1) Board Nominee will have the right (but not the obligation) to be appointed by the Board to sit on each regular committee
of the Board, subject to such Board Nominee satisfying applicable legal, regulatory and stock exchange requirements. If no Board
Nominee satisfies the applicable legal, regulatory and stock exchange requirements to sit on any particular committee of the Board,
then the Board shall permit such Board Nominee to attend (but not vote) at the meetings of such committee as an observer and shall
provide all related committee materials to the Board Nominee, unless such attendance or the provision of such materials would result
in an actual conflict of interest or violate any of the applicable corporate governance policies and guidelines or applicable legal,
regulatory or stock exchange requirements.

 

    -2-

     

    

 

(c)              
 The Board Nominees shall be subject to the policies and requirements of the Company and the Board, in a manner consistent
with the application of such policies and requirements to other members of the Board. The Company shall compensate the Board Nominees,
and reimburse the Board Nominees for their reasonable expenses incurred in connection with Board and committee services, reimburse
and advance to the Board Nominees’ expenses, indemnify the Board Nominees, and provide them with coverage pursuant to director
and officer insurance to the same extent it compensates, reimburses and advances, indemnifies and provides insurance for the other
outside members of the Board pursuant to its organizational documents, applicable law or otherwise. The Company agrees that such
indemnification arrangements will provide that such indemnification, reimbursement and advancement will be the primary source of
indemnification and reimbursement and advancement of expenses in connection with the matters covered thereby and payment thereon
will be made before, offset and reduce any other indemnity or expense reimbursement or advancement to which a Board Nominee may
be entitled or which is actually paid in connection with such matters, including as an employee of PHC Holdings or any of its Affiliates.

 

1.2             
Board Nominees. So long as PHC Holdings and its Affiliates beneficially own at least 15% of the Common Stock on an
as-converted basis, PHC Holdings shall have the right to designate two (2) Board Nominees. If PHC Holdings and its Affiliates beneficially
own less than 15% of the Common Stock on an as-converted basis, but at least 5% of the Common Stock on an as-converted basis, PHC
Holdings shall thereafter have the right to designate only one (1) Board Nominee. At such time as PHC Holdings and its Affiliates
beneficially own less than 5% of the Common Stock on an as-converted basis, PHC Holdings shall no longer have the right to designate
any Board Nominees. For purposes of this Section 1.2, beneficial ownership will be deemed to include, if PHC Holdings and
its Affiliates have received any cash upon conversion of any Notes or any Company securities exercisable and/or convertible into
Common Stock, the number of shares of Common Stock PHC Holdings and its Affiliates would have received had such exercise or conversion
been settled solely in shares of Common Stock.

 

ARTICLE
II

 

RIGHT OF PURCHASE

 

2.1             
Right of Purchase.

 

(a)              
Subject to the terms and conditions contained in this Section, the Company grants to the Purchasers a right to purchase
or subscribe for such Purchaser’s Pro Rata Portion calculated as of the date of delivery of any notice pursuant to Section
2.1(b) of any New Financing actually issued or raised, as applicable, which the Company may, from time to time, propose to
issue and sell or raise, as applicable. Notwithstanding the foregoing, in the event that any New Financing is being raised pursuant
to a registration statement under the Securities Act (the “Registered Offering”), each Purchaser will be entitled
to purchase its portion of the New Financing in a simultaneous private placement with the Registered Offering, but otherwise on
the same terms as the Registered Offering, to the extent an exemption from registration is available at such time.

 

    -3-

     

    

 

(b)              
 In the event the Company proposes to undertake a New Financing, it shall give the Purchasers written notice of its intention,
describing the type of New Financing and the price and terms upon which the Company proposes to issue or borrow the same. Each
Purchaser shall have fifteen (15) days from the date of delivery of any such notice to agree to purchase or subscribe for up to
its Pro Rata Portion of such New Financing, for the price and upon the terms specified in the notice, by delivering written notice
to the Company and stating therein the quantity of the New Financing to be purchased or subscribed for, as applicable.

 

(c)              
The Company shall have ninety (90) days following the fifteen- (15-) day period described in Section 2.1(b) to sell
or raise, as applicable, or enter into an agreement (pursuant to which the New Financing covered thereby shall be closed, if at
all, within thirty (30) days from the date of said agreement) to sell or raise, as applicable, the New Financing with respect to
which the Purchasers’ purchase or subscription right was not exercised, at a price no more favorable and upon other terms
no more favorable in the aggregate to the purchasers or lenders of such financing than specified in the Company’s notice.
In the event the Company has not sold or raised the New Financing or entered into an agreement to sell or raise the New Financing
within said ninety- (90-) day period (or sold and issued or raised New Financing in accordance with the foregoing within thirty
(30) days from the date of said agreement), the Company shall not thereafter issue or sell or raise any New Financing without first
offering such financing to the Purchasers in the manner provided above.

 

2.2              Post
Closing Notice(a). Notwithstanding anything in this ARTICLE II to the contrary, if (a) the Board determines in good faith
that the Company’s ability to consummate the New Financing would be adversely impacted by virtue of compliance with the
advance notice provisions contained in Section 2.1(b) and (b) such New Financing is permissible under the rules of the
principal securities exchange on which the Company’s securities are traded, the Company may issue or raise such New
Financing without providing such notice and without regard to the provisions of this ARTICLE II prior to such issuance. After
the consummation of such New Financing without providing such advance notice in reliance on this Section 2.2, the
Company shall provide the Purchasers written notice (the “Post Closing Notice”) of the fact that the
Company issued or raised such New Financing, that such transaction has been consummated, and that the notice required by Section
2.1(b) was not provided in reliance on this Section 2.2. The Post Closing Notice shall set forth the type of New
Financing issued or raised, and the price and the terms upon which such New Financing was issued or raised. The Purchasers
shall have twenty (20) days from the delivery of such Post Closing Notice to elect to purchase or subscribe for up to the
Purchasers’ Pro Rata Portion of such New Financing, for the price and upon the terms specified in such Post Closing
Notice, and the closing of such sale or loan to the Purchasers so electing shall be consummated as promptly as practicable
thereafter but in no event later than 10 Business Days after the date on which the Purchasers’ response was due
(subject to extension for any required regulatory approvals or arrangement of any necessary financing by Purchaser).

 

    -4-

     

    

 

ARTICLE
III

 

REPRESENTATIONS AND WARRANTIES

 

3.1           
Representations and Warranties of the Purchasers. The Purchasers, as of the date hereof, and as of the date any such
Purchaser becomes a party to this Agreement pursuant to the execution of a joinder, hereby represent and warrant to the Company
as follows:

 

(a)              
Such Purchaser is duly organized, validly existing and in good standing, and has the power, authority and capacity to execute
and deliver this Agreement (or to deliver a joinder and join this Agreement, as applicable), to perform its obligations hereunder.

 

(b)              
This Agreement (or the execution and delivery of a joinder and the joining of this Agreement, as applicable) will not violate,
conflict with or result in a breach of or default under (i) such Purchaser’s organizational documents, (ii) any material
agreement or instrument to which such Purchaser is a party or by which such Purchaser or any of its assets are bound, or (iii)
any material laws, regulations or governmental or judicial decrees, injunctions or orders applicable to such Purchaser.

 

(c)              
This Agreement (or joinder, as applicable) has been duly executed and delivered by such Purchaser and constitutes a legal,
valid and binding obligation of such Purchaser, enforceable against the Purchaser in accordance with its terms, except as such
enforceability may be limited by bankruptcy, fraudulent conveyance, insolvency, reorganization, moratorium, and other laws relating
to or affecting creditors’ rights generally and by general equitable principles (regardless of whether such enforceability
is considered in a proceeding in equity or at law).

 

3.2          
Representations and Warranties of the Company. The Company hereby represents and warrants to the Purchasers as of
the date hereof as follows:

 

(a)              
The Company is duly organized, validly existing and in good standing, and has the power, authority and capacity to execute
and deliver this Agreement, to perform its obligations hereunder.

 

(b)              
The execution, delivery and performance by the Company of this Agreement has been duly authorized, and does not (i) conflict
with the Company’s organizational documents, (ii) contravene, conflict with, constitute a default under or violate any material
law applicable thereto, (iii) contravene, conflict or violate any applicable order, writ, judgment, injunction, decree, determination
or award of any governmental authority by which the Company may be bound or affected, or (iv) constitute an event of default or
material breach under any material agreement by which the Company, any of its Subsidiaries or any of their respective properties,
is bound. Neither the Company nor any of its Subsidiaries is in default or material breach under any material agreement to which
it is a party or by which it or any of its assets is bound in which such default could reasonably be expected to have a material
adverse change.

 

    -5-

     

    

 

(c)              
 This Agreement has been duly authorized by the Company and constituted the legal, valid, and binding obligations of the
Company, enforceable against the Company in accordance with its terms, except as such enforceability may be limited by bankruptcy,
fraudulent conveyance, insolvency, reorganization, transfer, moratorium, and other laws relating to or affecting creditors’
rights generally and by general equitable principles (regardless of whether such enforceability is considered in a proceeding in
equity or at law).

 

ARTICLE
IV

DEFINITIONS

 

4.1             
Defined Terms. Capitalized terms when used in this Agreement have the following meanings:

 

“Affiliate”
means any person or entity that, directly or indirectly through one or more intermediaries, controls or is controlled by or is
under common control with a person or entity, as such terms are used in and construed under Rule 144 under the Securities Act.
With respect to a Purchaser, any investment fund or managed account that is managed on a discretionary basis by the same investment
manager as such Purchaser will be deemed to be an Affiliate of such Purchaser. As used in this definition of “Affiliate,”
the term “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of a Person, whether through ownership of voting securities or partnership or other ownership interest,
by contract, or otherwise.

 

“Agreement”
has the meaning set forth in the Preamble.

 

“Appointment Date”
has the meaning set forth in Section 1.1(a).

 

“Board” has
the meaning set forth in Section 1.1(a).

 

“Board Nominee”
has the meaning set forth in Section 1.1(a).

 

“Business Day”
is any day that is not a Saturday, Sunday or a day on which commercial banks in New York, New York are required or authorized to
be closed.

 

“Closing”
has the meaning set forth in the Purchase Agreement.

 

“Common Stock”
means the common stock, par value $0.001 per share of the Company.

 

“Company”
has the meaning set forth in the Preamble.

 

“Exchange Act”
means the U.S. Securities and Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“New Financing”
means any equity, equity-linked or debt securities or loans of the Company; provided, however, that the term “New Financing”
does not include:

 

    -6-

     

    

 

(i) the
Notes, the shares of Common Stock issued upon any conversion of the Notes, and the Shares;

 

(ii) securities
issued to employees, consultants, officers and directors of the Company, pursuant to equity compensation plans approved by the
Board or grants of options outside of such plans approved by the Board;

 

(iii) securities
issued or issuable pursuant to any rights or agreements, including, without limitation, convertible securities, options and warrants,
provided that either (x) the Company shall have complied with the purchase right established by ARTICLE II with respect to the
initial sale or grant by the Company of such rights or agreements, or (y) such rights or agreements existed prior to the Company’s
obligations under ARTICLE II (it being understood that any modification or amendment to any such pre-existing right or agreement
subsequent to the date of this Agreement with the effect of increasing the percentage of the Company’s fully-diluted securities
underlying such rights agreement shall not be included in this clause (iii)(y));

 

(iv) securities
issued in connection with any stock split, stock dividend, subdivision, combination, reclassification, exchange, recapitalization
or similar transactions by the Company;

 

(v) securities
issued pursuant to the acquisition of another business entity by the Company by merger, purchase of substantially all of the assets
or shares, or other reorganization;

 

(vi) securities
issued in connection with sponsored research, collaboration, technology license, development, original equipment manufacturer,
marketing, joint venture investment or other similar agreements, strategic alliances or strategic transactions;

 

(vii) capital
stock issued in satisfaction of indebtedness or other liability or in exchange for indebtedness;

 

(viii) convertible
preferred stock issued or issuable to Masters Special Situations, LLC and any of its affiliates pursuant to the Stock Purchase
Agreement dated August 9, 2020, and Common Stock issuable upon conversion of such convertible preferred stock pursuant to the terms
thereof;

 

(ix) issuances
of Common Stock made pursuant to a customary “at-the-market” program registered on a Form S-3 under the Securities
Act; and

 

(x) Permitted
Debt (as defined in the Note Purchase Agreement, excluding indebtedness permitted by subparagraphs (1), (2), (3), (6) (other than
the refinancing of indebtedness represented by the 2023 Notes or 2025 Notes solely with the holders thereof in an amount not to
exceed the principal amount of such indebtedness) and (7) of such definition); and

 

    -7-

     

    

 

(xi) any right,
option, or warrant to acquire any security convertible into the securities excluded from the definition of New Financing pursuant
to clauses (i) through (x) above.

 

“Person” means
any individual, sole proprietorship, partnership, limited liability company, joint venture, company, trust, unincorporated organization,
association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency.

 

“Post Closing Notice”
has the meaning set forth in Section 2.2.

 

“Pro Rata Portion”
means, for any Purchaser, (A) in the case of equity or equity-linked securities, a ratio equal to (x) the sum of the number of
shares of the Company’s Common Stock held by such Purchaser immediately prior to the consummation of a New Financing, assuming
full conversion of the Notes and all Company securities exercisable and/or convertible into the Company’s Common Stock then
held by such Purchaser (including, if such Purchaser has received any cash upon conversion of any Notes or any Company securities
exercisable and/or convertible into the Company’s Common Stock, the number of shares such Purchaser would have beneficially
owned had such Purchaser received only shares of the Company’s Common Stock upon such exercise or conversion), over (y) the
sum of the total number of shares of the Company’s Common Stock then outstanding, assuming full exercise and/or conversion
of all Company securities exercisable and/or convertible into the Company’s Common Stock then outstanding; and (B) in the
case of debt securities or loans, a ratio equal to (x) the total amount of Indebtedness (as defined in the Purchase Agreement)
of the Company held by such Purchaser immediately prior to the consummation of a New Financing, over (y) the total amount of Indebtedness
of the Company then outstanding.

 

“Purchaser”
means any of one of the Purchasers.

 

“Purchasers”
means the purchasers of the Notes and the Shares identified on Schedule 2.2 to the Purchase Agreement and each successor and assignee
that becomes party to the Purchase Agreement.

 

“Registered Offering”
has the meaning set forth in Section 2.1(a).

 

“Registration Rights
Agreement” has the meaning set forth in the Recitals.

 

“Securities Act”
means the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Subsidiary”
is, with respect to any Person, any Person of which more than fifty percent (50%) of the voting stock or other equity interests
(in the case of Persons other than corporations) is owned or controlled, directly or indirectly, by such Person or through one
or more intermediaries.

 

    -8-

     

    

 

4.2              Terms
Generally. The words “hereby,” “herein,” “hereof,” “hereunder” and words
of similar import refer to this Agreement as a whole and not merely to the specific section, paragraph or clause in which
such word appears. All references herein to “Articles” and “Sections” shall be deemed references to
Articles and Sections of this Agreement unless the context shall otherwise require. The words “include,”
“includes” and “including” shall be deemed to be followed by the phrase “without
limitation.” References to “$” or “dollars” means United States dollars. The definitions given
for terms in this ARTICLE IV and elsewhere in this Agreement shall apply equally to both the singular and plural forms
of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and
neuter forms. References herein to any agreement or letter shall be deemed references to such agreement or letter as it may
be amended, restated or otherwise revised from time to time.

 

ARTICLE
V

 

MISCELLANEOUS

 

5.1             
Term. This Agreement will be effective as of the Closing and, except as otherwise set forth herein, will continue
in effect thereafter until (a) the mutual written agreement of the Company and the Purchasers holding a majority of the Notes to
terminate this Agreement or (b) the date that PHC Holdings and its Affiliates no longer beneficially own at least 5% of the outstanding
Common Stock on an as-converted basis (including, if PHC Holdings and its Affiliates receive any cash upon conversion of the Notes
or any Company securities exercisable and/or convertible into the Company’s Common Stock, the number of shares PHC Holdings
and its Affiliates would have beneficially owned had they received only shares of the Company’s Common Stock upon such exercise
or conversion).

 

5.2             
Amendments and Waivers. Except as otherwise provided herein, the provisions of this Agreement may be amended or waived
only upon the prior written consent of the Company and the Purchasers holding a majority of the Notes. No failure or delay by any
party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise
thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies
herein provided shall be cumulative and not exclusive of any right or remedy provided by applicable law.

 

5.3             
Successors and Assigns. Except as otherwise expressly provided in this Section 5.3, neither this Agreement
nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties (whether an initial party or
made party through a joinder or otherwise), in whole or in part (whether by operation of law or otherwise), without the prior written
consent of the Company and the Purchasers holding a majority of the Notes. Notwithstanding anything to the contrary in the foregoing,
(a) subject to the terms and conditions of this Agreement, a Purchaser may assign all or any portion of its rights and interests
under this Agreement to any Person (i) to which such Purchaser properly assigns or transfers Notes in accordance with the
Purchase Agreement, and (ii) that executes a joinder, and (b) this Agreement may be assigned by operation of law by the Company.
This Agreement will be binding upon, inure to the benefit of, and be enforceable by the parties and their respective permitted
successors and assigns. Any attempted assignment in violation of this Section 5.3 shall be null and void ab initio.

 

    -9-

     

    

 

5.4              Severability.
Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under
applicable law, but, if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under
any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other
provision or the effectiveness or validity of any such provision in any other jurisdiction, and this Agreement will be
reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been
contained herein.

 

5.5             
Counterparts. This Agreement may be executed in two (2) or more counterparts, all of which shall be considered one
and the same agreement and shall become effective when counterparts have been signed by each of the parties and delivered to the
other parties, it being understood that each party need not sign the same counterpart.

 

5.6             
Entire Agreement. This Agreement, together with the Note Documents (as defined in the Purchase Agreement), constitutes
the entire agreement among the parties or to which they are subject and supersedes all prior agreements and understandings, both
written and oral, between the parties with respect to the subject matter of the transactions contemplated hereby and thereby.

 

5.7            
Governing Law; Jurisdiction. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER
SHALL IN ALL RESPECTS BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK, INCLUDING ALL
MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, REGARDLESS OF THE LOCATION OF THE COLLATERAL, PROVIDED, HOWEVER,
THAT IF THE LAWS OF ANY JURISDICTION OTHER THAN NEW YORK SHALL GOVERN IN REGARD TO THE VALIDITY, PERFECTION OR EFFECT OF PERFECTION
OF ANY LIEN OR IN REGARD TO PROCEDURAL MATTERS AFFECTING ENFORCEMENT OF ANY LIENS IN COLLATERAL, SUCH LAWS OF SUCH OTHER JURISDICTIONS
SHALL CONTINUE TO APPLY TO THAT EXTENT.

 

5.8             
WAIVER OF JURY TRIAL. EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

5.9             
Specific Performance. The parties agree that irreparable damage may occur if any provision of this Agreement is not
performed in accordance with the terms hereof and that the parties shall be entitled to seek an injunction or injunctions or other
equitable relief to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof
in any court set forth in Section 5.7, in addition to any other remedy to which they are entitled at law or in equity.

 

5.10          
No Third-Party Beneficiaries. Nothing in this Agreement shall confer any right upon any Person other than the parties
and each such party’s respective heirs, successors and permitted assigns, all of whom shall be express third-party beneficiaries
of this Agreement.

 

    -10-

     

    

 

5.11          Notices.
Any notice, request, instruction or other document to be given hereunder by any party to the other will be in writing and
will be deemed to have been duly given (a) on the date of delivery if delivered personally or by facsimile or electronic
communication, upon confirmation of receipt, (b) on the first Business Day following the date of dispatch if delivered by a
recognized next-day courier service, or (c) on the third Business Day following the date of mailing if delivered by
registered or certified mail, return receipt requested, postage prepaid. All notices hereunder shall be delivered as set
forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice.

 

If to the Company, to:

 

SENSEONICS HOLDINGS, INC.

20451 Seneca Meadows Parkway

Germantown, MD 20876

Attn: Chief Financial Officer

Email: nick.tressler@senseonics.com

 

with copies (which shall
not constitute notice) to:

 

Cooley LLP

11951 Freedom Drive

Reston, VA 20190

Facsimile: (703) 456-8100

Attention: Christian E. Plaza

 

If to the Purchasers,
to:

 

PHC Holdings Corporation

Ryuichi Hirashima

2-38-5 Nishishimbashi, Minato-ku, Tokyo

105-8433 Japan

Attn: Chief Strategy Officer

Email: ryuichi.hirashima@phchd.com

 

with a copy (which shall
not constitute notice) to:

 

Latham & Watkins LLP

885 Third Avenue

New York, NY 10022-4834

Attn:                    Greg Rodgers

Paul Bonewitz

E-mail:                greg.rodgers@lw.com

paul.bonewitz@lw.com

Fax:                     (212) 751-4864

 

[Remainder of page
intentionally left blank]

 

    -11-

     

    

 

IN WITNESS WHEREOF, the
parties have duly executed this Agreement by their authorized representatives as of the date first above written.

 

	 	SENSEONICS
    HOLDINGS, INC.
	 	 
	 	By:  	 /s/ Tim Goodnow
	 	Name:
    Timothy T. Goodnow
	 	Title:
    President and CEO

 

     

     

    

 

	 	PHC
    HOLDINGS CORPORATION
	 	 
	 	By:  	/s/ Michael Kloss
	 	Name:
    Michael Kloss
	 	Title:
    President and Chief Executive Officer

 

[Signature Page to Investor Rights Agreement]

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