Document:

First Amendment to Note Purchase Agreement (Series 2007A)

 Exhibit 10.3 

 
  

 
 EAGLE
MATERIALS INC. 
  

 
 First Amendment

 Dated as of the Effective Date 
 to 
 NOTE PURCHASE AGREEMENT

 Dated as of October 2, 2007 
  

 
  

 
  

 FIRST AMENDMENT TO NOTE
PURCHASE AGREEMENT 
 THIS FIRST AMENDMENT
TO NOTE PURCHASE AGREEMENT dated and effective as of the Effective Date (this “First Amendment”) is among Eagle Materials Inc., a Delaware corporation (the
“Company”), and each of the institutions set forth on the signature pages to this First Amendment (collectively, the “Noteholders”). 
 RECITALS: 
 A. The Company has heretofore entered into the
Note Purchase Agreement dated as of October 2, 2007 with each of the institutional investors party thereto (the “Note Purchase Agreement”). The Company has heretofore issued its (i) 6.08% Series 2007A Senior Notes, Tranche
A, due October 2, 2014 (the “Tranche A Notes”), (ii) 6.27% Series 2007A Senior Notes, Tranche B, due October 2, 2016 (the “Tranche B Notes”), (iii) 6.36% Series 2007A Senior Notes, Tranche
C, due October 2, 2017 (the “Tranche C Notes”), and (iv) 6.48% Series 2007A Senior Notes, Tranche D, due October 2, 2019 (the “Tranche D Notes” and, collectively with the Tranche A Notes, the Tranche
B Notes and the Tranche C Notes, the “Notes”) pursuant to the Note Purchase Agreement. 
 B. The Company and
the Noteholders now desire to amend the Note Purchase Agreement in the respects, but only in the respects, hereinafter set forth. 
 C. The Noteholders constitute the Required Holders necessary to agree to the amendments contained herein. 
 D. Capitalized terms used herein shall have the respective meanings ascribed thereto in the Note Purchase Agreement unless herein defined or the context shall otherwise require. 

E. All requirements of law have been fully complied with and all other acts and things necessary to make this First Amendment a valid,
legal and binding instrument according to its terms for the purposes herein expressed have been done or performed. 

NOW, THEREFORE, the Company and the Noteholders, in consideration of good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, do hereby agree as follows: 

SECTION 1.    AMENDMENTS. 
 Section 1.1. Schedule B of the Note Purchase Agreement shall be and is hereby amended as follows: 
 (a) The definition of “Consolidated EBITDA” is hereby amended and restated in its entirety as follows: 

  

 “Consolidated EBITDA” shall mean, for any period,
Consolidated Net Income for such period, plus, to the extent deducted in computing such Consolidated Net Income and without duplication, (a) depreciation, depletion, if any, and amortization expense for such period, (b) Consolidated
Interest Expense for such period, (c) income tax expense for such period, (d) other non-cash charges for such period, (e) Transaction Costs incurred by any of the Company and its Restricted Subsidiaries in an aggregate amount not to
exceed $5,000,000, and (f) the amount of cost savings, other operating improvements and synergies and changes in allocated overhead projected by the Company in good faith to be realized as a result of specified actions taken in connection with
the acquisition of the LNA Acquired Assets, which cost savings, other operating improvements and synergies and changes in allocated overhead shall be calculated on a pro forma basis as though such cost savings, other operating improvements and
synergies and changes in allocated overhead had been realized on the first day of such period, provided that (i) such cost savings, improvements, synergies and changes are reasonably identifiable and factually supportable and (ii) for any
period of calculation, the aggregate amount added in determining Consolidated EBITDA under the terms of this clause (f) for such period shall not exceed and amount equal to the greater of (A) 15% of the total Consolidated EBITDA for such
period or (B) $30,000,000, in each case as determined in accordance with GAAP to the extent that GAAP applies. For purposes of calculating Consolidated EBITDA for any period of four consecutive quarters, if during such period the Company or any
Restricted Subsidiary shall have acquired or disposed of any Person or acquired the LNA Acquired Assets or any business segment of any Person or acquired or disposed of all or substantially all of the operating assets of any Person or any business
segment of any Person, Consolidated EBITDA for such period shall be calculated after giving pro forma effect thereto as if such transaction had occurred on the first day of such period. 

(b) Schedule B to the Note Purchase Agreement is hereby amended by adding the following definitions thereto in the proper
alphabetical order: 
 “2005 Note Agreement” means the Note Purchase Agreement dated as of November 15,
2005 among the Company and each of the institutional investors parties thereto, as amended, restated, supplemented or otherwise modified from time to time. 

  

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 “Lafarge” means Lafarge North America Inc., a Maryland corporation.

 “LNA Acquired Assets” means the assets transferred to the Company and/or any Subsidiary pursuant to the LNA
Acquisition Agreement. 
 “LNA Acquisition Agreement” means the Asset Purchase Agreement dated
September 26, 2012 among the Company, as the parent, Audubon Subsidiary LLC, a Delaware limited liability company, as the purchaser thereunder, and Lafarge and the affiliates of Lafarge party thereto, as sellers, as amended, restated or
modified from time to time. 
 “LNA Transaction” means, collectively, the transactions contemplated by the LNA
Acquisition Agreement. 
 “Transaction Costs” means all transaction costs, fees, expenses, and other charges
directly incurred in connection with the LNA Transaction and the issuance of capital stock or other equity interests and the issuance and/or incurrence of Debt related thereto (including, without limitation, fees and expenses of any counsel,
appraisers, consultants and other advisors, any financing fees, due diligence fees or any other fees and expenses in connection therewith). 
 Section 1.2. Section 10.4(k) of the Note Purchase Agreement is hereby amended and restated in its entirety as follows: 

(k) Liens securing Priority Debt of the Company or any Restricted Subsidiary, provided that the aggregate principal
amount of any such Priority Debt shall be permitted by Section 10.2, provided that, notwithstanding the foregoing, no such Liens may secure any obligations under or pursuant to the Bank Credit Agreement within the provisions of this
Section 10.4(k) unless concurrently therewith the Company shall secure the Notes equally and ratably with such obligations pursuant to documentation, including without limitation an intercreditor agreement, in form and substance reasonably
satisfactory to the Required Holders; 
 Section 1.3. Section 22.3 of the Note Purchase Agreement shall be and
is hereby amended by adding the following at the end thereof: 
 For purposes of determining compliance with the covenants
contained in this Agreement, any election by the Company to measure any financial liability using fair value (as permitted by Accounting Standard Codification Topic No. 825-10-25 – Fair Value Option) shall be disregarded and such
determination shall be made as if such election had not been made. 

  

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 SECTION 2.    REPRESENTATIONS AND
WARRANTIES OF THE COMPANY. 
 Section 2.1. To induce the
Noteholders to execute and deliver this First Amendment, the Company represents and warrants to the Noteholders that: 
 (a) this First Amendment has been duly authorized by all necessary corporate action on the part of the Company and has been executed and delivered by the Company and this First Amendment constitutes the
legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by (i) bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); 

(b) the Note Purchase Agreement, as amended by this First Amendment, constitutes the legal, valid and binding obligation
of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by (i) bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’
rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); 
 (c) the execution, delivery and performance by the Company of this First Amendment (i) does not require the consent or approval of any Governmental Authority and (ii) will not
(A) violate any provision of any law, statute, rule or regulation of any Governmental Authority or the certificate of incorporation or bylaws of the Company, (B) conflict with or result in a breach of any of the terms, conditions or
provisions of any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority applicable to the Company, or (C) contravene, result in any breach of, or constitute a default under any provision of any indenture,
agreement or other instrument to which it is a party or by which its properties or assets are or may be bound, including, without limitation, the Bank Credit Agreement; and 

(d) as of the Effective Date and after giving effect to this First Amendment, no Default or Event of Default has occurred
which is continuing. 
 SECTION 3.    CONDITIONS TO
EFFECTIVENESS OF THIS FIRST AMENDMENT. 

Section 3.1. This First Amendment shall not become effective until, and shall become effective when each and every one of the
following conditions shall have been satisfied and once satisfied, the date of such effectiveness shall be the date set forth on the Company’s signature page hereto (such date, the “Effective Date”): 

  

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 (a) executed counterparts of this First Amendment, duly executed by the
Company, the Subsidiary Guarantors and the holders of not less than 51% of the outstanding principal amount of the Notes of each Series outstanding as of the Effective Date, shall have been delivered (in the case of counterparts executed by the
Company and the Subsidiary Guarantors) to the Noteholders or their counsel and (in the case of counterparts executed by the Noteholders) to the Company; 
 (b) the representations and warranties of the Company set forth in Section 2 hereof are true and correct on and with respect to the Effective Date; 

(d) the Company shall have paid the reasonable fees and expenses of Chapman and Cutler LLP, counsel to the Noteholders, in
connection with the negotiation, preparation, approval, execution and delivery of this First Amendment, as set forth on an invoice delivered to the Company at least two days prior to the delivery of the last counterpart of this First Amendment
delivered pursuant to paragraph (a) above; and 
 (e) the Company shall have paid on the date set forth on
the Company’s signature page hereto to each holder of a Note a fee in an amount equal to 0.50% (50 basis points) of the aggregate outstanding principal amount of the Notes held by such holder of Notes; and 

(f) the Noteholders shall have received a copy, certified by a Responsible Officer of the Company as true and complete, of
(i) the First Amendment to Second Amended and Restated Credit Agreement in respect of the Bank Credit Agreement and (ii) the First Amendment to Note Purchase Agreement in respect of the 2005 Note Agreement, in each case in substance
acceptable to the Required Holders with respect to the subject matter of this First Amendment. 
 Upon satisfaction of all of the foregoing
conditions, this First Amendment shall become effective as of the date set forth on the Company’s signature page hereto. 

SECTION 4.    MISCELLANEOUS. 

Section 4.1. This First Amendment shall be construed in connection with and as part of the Note Purchase Agreement, and except
as modified and expressly amended by this First Amendment, all terms, conditions and covenants contained in the Note Purchase Agreement and the Notes are hereby ratified and shall be and remain in full force and effect. 

Section 4.2. Any and all notices, requests, certificates and other instruments executed and delivered after the execution and
delivery of this First Amendment may refer to the Note Purchase Agreement without making specific reference to this First Amendment but nevertheless all such references shall include this First Amendment unless the context otherwise requires.

 Section 4.3. The descriptive headings of the various Sections or parts of this First Amendment are for
convenience only and shall not affect the meaning or construction of any of the provisions hereof. 

  

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 Section 4.4. This First Amendment shall be construed and enforced in accordance
with, and the rights of the parties shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State.

  

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 The execution hereof by you shall constitute a contract between us for the uses and purposes
hereinabove set forth, and this First Amendment may be executed in any number of counterparts, each executed counterpart constituting an original, but all together only one agreement. 

 

					
	Very truly yours,
	
	EAGLE MATERIALS INC.
		
	By	 	/s/ D. Craig Kesler
		 	Name:	 	D. Craig Kesler
		 	Title:	 	 Executive Vice President – Finance
 and Administration and Chief
 Financial Officer

		
	 Dated:
	 	September 26, 2012

  

 Consented to by the Subsidiary Guarantors: 

 

			
	 AG SOUTH CAROLINA LLC

AMERICAN GYPSUM COMPANY LLC

AMERICAN GYPSUM MARKETING
COMPANY LLC

AUDUBON MATERIALS LLC

CCP CEMENT COMPANY

CCP CONCRETE/AGGREGATES LLC

CCP GYPSUM LLC
 CCP LAND COMPANY
 CENTEX CEMENT CORPORATION

CENTEX MATERIALS LLC

HOLLIS & EASTERN RAILROAD
COMPANY LLC

MATHEWS READYMIX LLC

M&W DRYWALL SUPPLY COMPANY

MOUNTAIN CEMENT COMPANY

NEVADA CEMENT COMPANY

REPUBLIC PAPERBOARD COMPANY LLC

TEXAX CEMENT COMPANY

TLCC GP LLC
 WESTERN AGGREGATES LLC
 WESTERN CEMENT COMPANY OF
CALIFORNIA

		
	By	 	/s/ D. Craig Kesler
		 	Name: D. Craig Kesler
		 	Title:   Senior Vice President and Treasurer

  

			
	TLCC GP LLC
		
	By	 	/s/ Joseph P. Sells
		 	Name: Joseph P. Sells
		 	Title: Manager

 
							
	
	CONNECTICUT GENERAL LIFE INSURANCE COMPANY
		
	By:	 	CIGNA Investments, Inc. (authorized agent)
			
		 	By	 	 /s/ Leonard Mazlish

		 		 	Name:	 	Leonard Mazlish
		 		 	Title:	 	Managing Director
	
	We acknowledge that we hold $3,300,000 6.08% Series 2007A Senior Notes, Tranche A due October 2, 2014.
	
	We acknowledge that we hold $11,700,000 6.48% Series 2007A Senior Notes, Tranche D due October 2, 2019.
	
	LIFE INSURANCE COMPANY OF NORTH AMERICA
		
	By:	 	CIGNA Investments, Inc. (authorized agent)
			
		 	By	 	 /s/ Leonard Mazlish

		 		 	Name:	 	Leonard Mazlish
		 		 	Title:	 	Managing Director
		 		 		 	
	We acknowledge that we hold $3,200,000 6.08% Series 2007A Senior Notes, Tranche A due October 2, 2014.
	
	We acknowledge that we hold $10,800,000 6.48% Series 2007A Senior Notes, Tranche D due October 2, 2019.
	
	MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
		
	By:	 	Babson Capital Management LLC as Investment Adviser
			
		 	By	 	 /s/ John B. Wheeler

		 		 	Name:	 	John B. Wheeler
		 		 	Title:	 	Managing Director
	
	We acknowledge that we hold $7,400,000 6.27% Series 2007A Senior Notes, Tranche B due October 2, 2016.
	
	We acknowledge that we hold $8,300,000 6.36% Series 2007A Senior Notes, Tranche C due October 2, 2017.
	
	We acknowledge that we hold $7,650,000 6.48% Series 2007A Senior Notes, Tranche D due October 2, 2019.
	
	C.M. LIFE INSURANCE COMPANY
		
	By:	 	Babson Capital Management LLC as Investment Sub-Adviser
			
		 	By	 	 /s/ John B. Wheeler

		 		 	Name:	 	John B. Wheeler
		 		 	Title:	 	Managing Director
	
	We acknowledge that we hold $600,000 6.27% Series 2007A Senior Notes, Tranche B due October 2, 2016.
	
	We acknowledge that we hold $700,000 6.36% Series 2007A Senior Notes, Tranche C due October 2, 2017.
	
	We acknowledge that we hold $350,000 6.48% Series 2007A Senior Notes, Tranche D due October 2, 2019.
	
	NATIONAL LIFE INSURANCE COMPANY
		
	By	 	/s/ R. Scott Higgins
		 	Name:	 	R. Scott Higgins
		 	Title:	 	Senior Vice President Sentinel Asset Management
	
	We acknowledge that we hold $8,000,000 6.36% Series 2007A Senior Notes, Tranche C due October 2, 2017.
	
	LIFE INSURANCE COMPANY OF THE SOUTHWEST
		
	By	 	/s/ R. Scott Higgins
		 	Name:	 	R. Scott Higgins
		 	Title:	 	Senior Vice President Sentinel Asset Management
	
	We acknowledge that we hold $6,000,000 6.48% Series 2007A Senior Notes, Tranche D due October 2, 2019.
	
	UNION CENTRAL LIFE INSURANCE COMPANY
		
	By:	 	Summit Investment Advisors, Inc., as Agent
			
		 	By	 	 /s/ Andrew S. White

		 		 	Name:	 	Andrew S. White
		 		 	Title:	 	Managing Director-Private Placements
	
	We acknowledge that we hold $3,000,000 6.36% Series 2007A Senior Notes, Tranche C due October 2, 2017.
	
	ACACIA MUTUAL LIFE INSURANCE COMPANY
		
	By:	 	Summit Investment Advisors, Inc., as Agent
			
		 	By	 	 /s/ Andrew S. White

		 		 	Name:	 	Andrew S. White
		 		 	Title:	 	Managing Director-Private Placements
	
	We acknowledge that we hold $2,000,000 6.36% Series 2007A Senior Notes, Tranche C due October 2, 2017.
	
	AMERITAS LIFE INSURANCE CORP.
		
	By:	 	Summit Investment Advisors, Inc., as Agent
			
		 	By	 	 /s/ Andrew S. White

		 		 	Name:	 	Andrew S. White
		 		 	Title:	 	Managing Director-Private Placements
	
	We acknowledge that we hold $2,000,000 6.36% Series 2007A Senior Notes, Tranche C due October 2, 2017.Investor Rights Agreement

 Exhibit 4.2 
 INVESTOR RIGHTS AGREEMENT 
 This INVESTOR RIGHTS AGREEMENT (the
“Agreement”) is made as of July 14, 1998 by and among Paratek Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and each of the purchasers of shares of the Company’s Series A Convertible Preferred Stock
listed on the signature pages attached hereto (the “Purchasers”). The Purchasers may be referred to herein individually as an “Investor,” and collectively as the “Investors”. 

WHEREAS each Investor has purchased shares of the Company’s Series A Convertible Preferred Stock, par value $.001 per share (the
“Series A Preferred Stock”), pursuant to a Stock Subscription and Right of First Refusal Agreement of even date herewith between the Company and each such Investor (the “Purchase Agreement”); and 

WHEREAS, as a condition to entering into the Purchase Agreement, the Company and the Investors desire to provide for certain registration
and other rights as set forth herein; 
 NOW, THEREFORE, in consideration of the premises and mutual agreements set forth herein
and for other good and valuable consideration, the receipt and sufficiency of which are hereby mutually acknowledged, the parties hereto agree as follows: 
  

	1.	GENERAL PROVISIONS 

 1.1 Shares Subject
to this Agreement. The Investors expressly agree that the terms and restrictions of this Agreement shall apply to all shares of capital stock which any of them now owns or hereafter acquires by any means, including without limitation by
purchase, assignment or operation of law, or as a result of any stock dividend, stock split, reorganization, reclassification, whether voluntary or involuntary, or other similar transaction, and to any shares of capital stock of any successor in
interest of the Company, whether by sale, merger, consolidation or other similar transaction, or by purchase, assignment or operation of law (the “Shares”). 
 1.2 Certain Definitions. As used in this Agreement, the following terms shall have the following respective meanings 
 “Affiliate” has the meaning ascribed to that term in Rule 12b-2 under the Exchange Act, or any successor rule. 
 “Commission” shall mean the Securities and Exchange Commission and any successor agency of the Federal government administering the Securities Act and the Exchange Act. 

“Common Stock” shall mean (i) the common stock, $.001 par value per share, of the Company, (ii) any other
capital stock of the Company, however designated, authorized on or after the date hereof, which shall neither be limited to a fixed sum or percentage of par value in respect of the rights of the holders thereof to participate in dividends nor
entitled to a preference in the distribution of assets upon the voluntary or involuntary liquidation, dissolution or winding up of the Company; and (iii) any other securities into which or for which any of the securities described in
(i) or (ii) may be converted or exchanged pursuant to a plan of recapitalization, reorganization, merger, consolidation, sale of assets or other similar transaction. 

 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended,
and any similar or successor Federal statute, and the rules and regulations of the Commission thereunder, all as the same shall be in effect from time to time. 
 “Initial Public Offering” shall mean the first underwritten public offering of Common Stock of the Company, offered on a firm commitment basis pursuant to a registration statement filed
with the Commission under the Securities Act on Form S-1 or its then equivalent, in which the aggregate net proceeds to the Company equals or exceeds $15,000,000. 
 “Person” means an individual, corporation, partnership, joint venture, trust or unincorporated organization, or a government or any agency or political subdivision thereof. 

The terms “register”, “registered” and “registration” shall refer to a registration
effected by preparing and filing a registration statement in compliance with the Securities Act and applicable rules and regulations thereunder, and the declaration or ordering of the effectiveness of such registration statement, or, as the context
may require, under the Exchange Act or applicable state securities laws. 
 “Registrable Securities” shall mean
(i) shares of Common Stock or other securities issued or issuable pursuant to the conversion of the Series A Preferred Stock and (ii) any shares of Common Stock or other securities issued or issuable pursuant to the conversion of the
Series A Preferred Stock upon any stock split, stock dividend, recapitalization, reorganization, merger, consolidation, sale of assets or similar event, excluding in any event securities which (a) have been registered under the Securities Act
pursuant to an effective registration statement filed thereunder and disposed of in accordance with the registration statement covering them, (b) have been publicly sold pursuant to Rule 144 under the Securities Act, or (c ) are eligible for
resale pursuant to Rule 144 under the Securities Act. Wherever reference is made in this Agreement to a request or consent of holders of a certain percentage of Registrable Securities, the determination of such percentage shall be calculated on the
basis of shares of Common Stock issued or issuable upon conversion of the Series A Preferred Stock even if such exercise has not been effected. Notwithstanding the foregoing, nothing in this Agreement shall require the Company to register any shares
of the Series A Preferred Stock. 
 “Registration Expenses” shall mean the expenses so described in
Section 4.3. 
 “Securities Act” shall mean the Securities Act of 1933, as amended, and any similar or
successor Federal statute, and the rules and regulations of the Commission thereunder, all as the same shall be in effect from time to time. 
 “Selling Expenses” shall mean the expenses so described in Section 4.3. 
  

	2.	PREEMPTIVE RIGHTS 

 2.1 Notice of New
Issuance. Except with respect to “Exempt Issuances” as defined in Section 2.3, in the event that the Company issues any (i) shares of Common Stock, (ii) warrants, options or other rights to purchase Common Stock
(collectively, “Rights”), or (iii) any debentures or other securities convertible into or exchangeable for shares of Common Stock (collectively, “Convertible Securities”), the Company will deliver to the Investors a notice
(the “Offer Notice”) upon the completion of such issuance (the “New Issuance”), stating the price and other terms and conditions thereof. 

  
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 2.2 Right to Purchase Shares, Rights or Convertible Securities. In the event of a New Issuance (other
than an Exempt Issuance), the Investors shall have the right to purchase such number of shares of Common Stock, Rights or Convertible Securities at the price and on the terms upon which the New Issuance was made, such price to be paid in full in
cash or by check at the time of issuance of such securities to the Investors, such that, after giving effect to the issuance to the Investors and the conversion, exercise and exchange into or for (whether directly or indirectly) shares of Common
Stock of all such Rights and Convertible Securities, each Investor who exercises such right will continue to maintain its same proportionate ownership of Common Stock as of the date immediately preceding the New Issuance, treating each Investor, for
the purpose of such computation, as the holder of the number of shares -of Common Stock which would be issuable to it upon conversion, exercise and exchange of all Rights and Convertible Securities held by it on the date immediately preceding the
New Issuance and assuming the like conversion, exercise and exchange of all such securities held by other. persons. The rights set forth in this Section 2 shall be exercised by the Investors, if at all, by written notice to the Company
delivered not later than thirty (30) days after the receipt by the Investors of the Offer Notice in accordance with the terms and conditions stated therein, and such right shall expire at the end of the thirtieth day after the day of the
receipt by the Investors of the Offer Notice. 
 2.3 Exempt Issuances. The issuances referred to in Section 2.1 which will not give
the Investors the rights described in Section 2.2 (the “Exempt Issuances”) are issuances in which shares of Common Stock or Rights or Convertible Securities of the Company are issued or deemed issued (i) as a dividend or
distribution payable pro rata to all holders of Common Stock or other securities of the Company; (ii) to employees, consultants, officers and directors of the Company pursuant to a stock or option plan or other arrangement approved by the
Company’s Board of Directors (a “Stock Plan Issuance”); (iii) in connection with the conversion or exercise of any options, warrants or other rights to purchase Common Stock (A) existing on the date hereof or (B) issued
in accordance with the foregoing clause (ii); (iv) to institutional lenders in connection with the establishment or maintenance by the Company of credit facilities; (v) in connection with the conversion or exercise of any options, warrants
or other rights to purchase Common Stock issued in accordance with the foregoing clause (iv); (vi) in connection with a merger, acquisition, joint venture or strategic partnership; and (vii) in connection with an Initial Public Offering.

 2.4 Termination. The respective rights and obligations of the parties under this Section 2 shall terminate upon the closing of
the Company’s Initial Public Offering. 

  
 3 

	3.	RESTRICTIONS ON TRANSFER OF SECURITIES 

3.1 Restrictive Legends. Each certificate representing the Series A Preferred Stock and the Registrable Securities shall, except as otherwise
provided in this Section 3.1, be stamped or otherwise imprinted with a legend substantially in the following form (in addition to any legend required under applicable state securities laws): 

“The securities represented by this certificate have not been registered under the Securities Act of 1933 or any other securities
laws. These securities have been acquired for investment and not with a view to distribution or resale. Such securities may not be offered for sale, sold, delivered after sale, transferred, pledged or hypothecated in the absence of an effective
registration statement covering such securities under the Securities Act of 1933 and any other applicable securities laws, unless the holder shall have obtained an opinion of counsel reasonably satisfactory to the corporation that such registration
is not required.” 
 Upon request of a holder of such a certificate, the Company shall remove the foregoing legend from the
certificate or issue to such holder a new certificate therefor free of such legend, if there is an effective registration statement covering the securities represented by such certificate or, with such request, the Company shall have received either
(i) an opinion of counsel reasonably satisfactory to the Company to the effect that the proposed sale, pledge, hypothecation or other transfer may be effected without registration under the Securities Act or (ii) a “no action”
letter from the Commission to the effect that the distribution of such securities without registration will not result in a recommendation by the staff of the Commission that action be taken with respect thereto. 

In addition, each certificate representing the Series A Preferred Stock and the Registrable Securities shall bear a legend substantially
similar to the following: 
 “The shares represented hereby are also subject to restrictions on transfer contained in a
certain Stock Subscription and Right of First-Refusal Agreement, and may not be sold, pledged or otherwise transferred without compliance with the terms thereof. The Company will furnish a copy of the full text of such restrictions to the holder of
this certificate upon written request and without charge.” 
  

	4.	REGISTRATION 

 4.1 Registration on Form
S-3. 
 (a) After the Initial Public Offering and when the Company is eligible to file a registration statement on Form S-3,
or any comparable or successor form thereto, one or more of the holders of Registrable Securities constituting at least 33-1/3% of the total shares of Registrable Securities then outstanding, may, on one occasion only, request that the Company file
a registration statement on Form S-3, or any comparable or successor form thereto, for a public offering of all or any portion of the shares of Registrable Securities held by such requesting holder or holders. Upon the receipt of notice of such
request, the Company shall use its best efforts to register under the Securities Act on Form S-3, or any comparable or successor form thereto, for public sale in accordance with the method of disposition specified in such notice, the number of
shares of Registrable Securities specified in such notice. 
 (b) Following receipt of any notice under Section 4.1(a), the
Company shall immediately notify all holders of Registrable Securities from whom notice has not been received and such holders shall then be entitled within thirty (30) days after receipt of such notice from

  
 4 

 
the Company to request the Company to include in the requested registration all or any portion of their shares of Registrable Securities. The Company shall use its best efforts to register under
the Securities Act, for public sale in accordance with the method of disposition specified in the notice from requesting holders described in paragraph (a) above, the number of shares of Registrable Securities specified in such notice (and in
all notices received by the Company from other holders within thirty (30) days after the receipt of such notice by such holders). The Company shall be obligated to register the Registrable Securities pursuant to this Section 4.1 on one
(1) occasion only, provided, however, that such obligation shall be deemed satisfied only when a registration statement covering all shares of Registrable Securities specified in notices received as aforesaid (except to the extent
reduced by the managing underwriter, if any, pursuant to Section 4.1(d)), for sale in accordance with the method of disposition specified by the requesting holders, shall have become effective and, if such method of disposition is a firm
commitment underwritten public offering, all such shares shall have been sold pursuant thereto. Notwithstanding anything to the contrary contained herein, no request may be made under this Section 4.1 after the effective date of a registration
statement filed by the Company covering a firm commitment underwritten public offering and prior to the later to occur of the completion of the period of distribution for such offering or 180 days after the effective date of such registration
statement. 
 (c) If the holders requesting such registration intend to distribute the Registrable Securities covered by their
request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to this Section 4.1 and the Company shall include such information in the written notice referred to in paragraph (b) above. The
right of any holder to registration pursuant to this Section 4.1 shall be conditioned upon such holder’s agreeing to participate in such underwriting and to permit inclusion of such holder’s Registrable Securities in the underwriting.
If such method of disposition is an underwritten public offering, the Company may designate the managing underwriter of such offering. A holder may elect to include in such underwriting all or a part of the Registrable Securities it holds.

 (d) A registration statement filed pursuant to this Section 4.1 may, subject to the following provisions, include
(i) shares of Common Stock for sale by the Company for its own account, (ii) shares of Common Stock held by officers or directors of the Company, and (iii) shares of Common Stock held by persons (“Other Stockholders”) having
“piggyback” registration rights to have such shares of Common Stock included in such registration, in each case for sale in accordance with the method of disposition specified by the requesting holders. If such registration shall be
underwritten, the Company, such officers and directors and such Other Stockholders proposing to distribute their shares through such underwriting shall enter into an underwriting agreement in customary form with the representative of the underwriter
or underwriters selected for such underwriting on terms no less favorable to such officers and directors and such Other Stockholders than the terms afforded the holders of Registrable Securities. If and to the extent that the managing underwriter
determines that marketing factors require a limitation on the number of shares to be included in such registration, then the shares of Common Stock held by officers or directors (other than Registrable Securities) of the Company and shares of Common
Stock to be sold by the Company for its own account shall be excluded from such registration to the extent so required by such managing underwriter, and, unless the holders of such shares and the Company have otherwise agreed in writing, such
exclusion shall be applied first to the shares held by the directors and officers to the extent required by the 

  
 5 

 
managing underwriter, then to the shares of Common Stock of the Company to be included for its own account to the extent required by the managing underwriter. If the managing underwriter
determines that marketing factors require a limitation of the number of Registrable Securities and shares of Common Stock held by Other Stockholders to be registered under this Section 4.1, then such Registrable Securities and such shares of
Common Stock held by Other Stockholders shall be excluded in such manner that the securities to be sold shall be allocated among the selling holders pro rata based on their ownership of Registrable Securities and shares of Common Stock: No
Registrable Securities or any other security excluded from the underwriting by reason of the underwriter’s marketing limitation shall be included in such registration. If any holder of Registrable Securities, officer or director or Other
Stockholder who has requested inclusion in such registration as provided above, disapproves of the terms of the underwriting, such holder of securities may elect to withdraw therefrom by written notice to the Company and the managing underwriter.
The securities so withdrawn shall also be withdrawn from registration. 
 4.2 Registration Procedures. If and whenever the Company is
required by the provisions of Section 4.1 to use its best efforts to effect the registration of any Registrable Securities under the Securities Act, the Company will, as expeditiously as possible: 

(a) prepare and file with the Commission a registration statement with respect to such securities including executing an undertaking to
file post-effective amendments and use its best efforts to cause such registration statement to become and remain effective for the period of the distribution contemplated thereby; 

(b) prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in
connection therewith as may be necessary to keep such registration statement effective for the period specified herein and comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by such
registration statement in accordance with the sellers’ intended method of disposition set forth in such registration statement for such period; 
 (c) furnish to each seller of Registrable Securities and to each underwriter such number of copies of the registration statement and each such amendment and supplement thereto (in each case including all
exhibits) and the prospectus included therein (including each preliminary prospectus) as such persons reasonably may request in order to facilitate the public sale or other disposition of the Registrable Securities covered by such registration
statement; 
 (d) use its best efforts to register or qualify the Registrable Securities covered by such registration statement
under the securities or “blue sky” laws of such jurisdictions as the sellers of Registrable Securities or, in the case of an underwritten public offering, the managing underwriter reasonably shall request, provided, however, that
the Company shall not for any such purpose be required to qualify generally to transact business as a foreign corporation in any jurisdiction where it is not so qualified or to consent to general service of process in any such jurisdiction, unless
the Company is already subject to service in such jurisdiction; 
 (e) use its best efforts to list the Registrable Securities
covered by such registration statement with any securities exchange on which the Common Stock of the Company is then listed; 

  
 6 

 (f) comply with all applicable rules and regulations under the Securities Act and Exchange
Act; 
 (g) immediately notify each seller of Registrable Securities and each underwriter under such registration statement, at
any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event of which the Company has knowledge as a result of which the prospectus contained in such registration statement, as then
in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, and promptly prepare
and furnish to such seller a reasonable number of copies of a prospectus supplemented or amended so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; 
 (h) if the offering is underwritten and at the request of any seller of Registrable Securities, use its best efforts to furnish on the date that Registrable Securities are delivered to the underwriters
for sale pursuant to such registration: (i) an opinion dated such date of counsel representing the Company for the purposes of such registration, addressed to the underwriters to such effects as reasonably may be requested by counsel for the
underwriters, and (ii) a letter dated such date from the independent public accountants retained by the Company, addressed to the underwriters stating that they are independent public accountants within the meaning of the Securities Act and
that, in the opinion of such accountants, the financial statements of the Company included in the registration statement or the prospectus, or any amendment or supplement thereof, comply as to form in all material respects with the applicable
accounting requirements of the Securities Act, and such letter shall additionally cover such other financial matters (including information as to the period ending no more than five (5) business days prior to the date of such letter) with
respect to such registration as such underwriters reasonably may request; 
 (i) make available for inspection by each seller of
Registrable Securities, any underwriter participating in any distribution pursuant to such registration statement, and any attorney, accountant or other agent retained by such seller or underwriter, reasonable access to all financial and other
records, pertinent corporate documents and properties of the Company, as such parties may reasonably request, and cause the Company’s officers, directors and employees to supply all information reasonably requested by any such seller,
underwriter, attorney, accountant or agent in connection with such registration statement; and 
 (j) cooperate with the selling
holders of Registrable Securities and the managing underwriter, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold, such certificates to be in such denominations and registered in
such names as such holders or the managing underwriter may request at least two business days prior to any sale of Registrable Securities: 
 For purposes of this Agreement, the period of distribution of Registrable Securities in a firm commitment underwritten public offering shall be deemed to extend until each underwriter has completed the
distribution of all securities purchased by it, and the period of distribution of Registrable Securities in any other registration shall be deemed to extend until the earlier of the sale of all Registrable Securities covered thereby or 180 days
after the effective date. 

  
 7 

 In connection with each registration hereunder, the sellers of Registrable Securities will
furnish to the Company in writing such information requested by the Company with respect to themselves and the proposed distribution by them as shall be reasonably necessary in order to assure compliance with Federal and applicable state securities
laws. 
 4.3 Expenses. 
 (a) All expenses incurred by the Company in complying with Sections 4.1 and 4.2, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel and
independent public accountants for the Company, fees and expenses (including counsel fees) incurred in connection with complying with state securities or “blue sky” laws, fees of the National Association of Securities Dealers, Inc.,
transfer taxes, fees of transfer agents and registrars, costs of any insurance which might be obtained by the Company with respect to the offering by the Company, and fees and disbursements of one counsel selected by a majority in interest of the
sellers of Registrable Securities, but excluding any Selling Expenses, are called “Registration Expenses”. All underwriting discounts and selling commissions applicable to the sale of Registrable Securities are called “Selling
Expenses”. 
 (b) The Company will pay all Registration Expenses in connection with any registration statement under
Section 4.1; provided, that, in the event of a registration which is withdrawn at the request of the participating sellers other than as a result of the Company’s failure to perform its obligations hereunder and other than as a
result of a cutback by the underwriter of such registration in the amount of Registrable Securities which may be included in such registration, the participating sellers shall pay the Registration Expenses with respect to such registration. All
Selling Expenses in connection with any registration statement under 4.1 shall be borne by the participating sellers in proportion to the number of shares registered by each, or by such participating sellers other than the Company (except to the
extent the Company shall be a seller) as they may agree. 
 4.4 Indemnification and Contribution. 

(a) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 4.1, the
Company will indemnify and hold harmless each holder of Registrable Securities, its officers, directors and partners, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls such holder or underwriter
within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which such holder, officer, director, partner, underwriter or controlling person may become subject under the Securities Act or
otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any prospectus, offering
circular or other document incident to such registration (including any related notification, registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 4.1, any preliminary
prospectus or final prospectus contained therein, or any amendment or supplement thereof), (ii) any blue sky 

  
 8 

 
application or other document executed by the Company specifically for that purpose or based upon written information furnished by the Company filed in any state or other jurisdiction in order to
qualify any or all of the Registrable Securities under the securities laws thereof (any such application, document or information herein called a “Blue Sky Application”), (iii) any omission or alleged omission to state in any such
registration statement, prospectus, amendment or supplement or in any Blue Sky Applications executed or filed by the Company, a material fact required to be stated therein or necessary to make the statements therein not misleading, (iv) any
violation by the Company or its agents of the Securities Act or any rule or regulation promulgated under the Securities Act applicable to the Company or its agents and relating to action or inaction required of the Company in connection with such
registration, or (v) any failure to register or qualify the Registrable Securities in any state where the Company or its agents has affirmatively undertaken or agreed in writing that the Company (the undertaking of any underwriter chosen by the
Company being attributed to the Company) will undertake such registration or qualification (provided that in such instance the Company shall not be so liable if it has used its best efforts to so register or qualify the Registrable Securities) and
will reimburse each such seller, and such officer, director and partner, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss,
claim, damage, liability or action, promptly after being so incurred, provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon
an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with written information furnished by any such holder, any such underwriter or any such controlling person in writing specifically for use in such
registration statement or prospectus. 
 (b) In the event of a registration of any of the Registrable Securities under the
Securities Act pursuant to Section 4.1, each seller of such Registrable Securities thereunder, severally and not jointly, will indemnify and hold harmless the Company, each person, if any, who controls the Company within the meaning of the
Securities Act, each officer of the Company who signs the registration statement, each director of the Company, each other seller of Registrable Securities, each underwriter and each person who controls any underwriter within the meaning of the
Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer, director, other seller, underwriter or controlling person may become subject under the Securities Act or otherwise, insofar
as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any prospectus offering circular or other document
incident to such registration (including any related notification, registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 4.1, any preliminary prospectus or final prospectus
contained therein, or any amendment or supplement thereof), or any Blue Sky Application or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, and will reimburse the Company and each such officer, director, other seller, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or
defending any such loss, claim, damage, liability or action, promptly after being so incurred, provided, however, that such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or
liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and 

  
 9 

 
in conformity with information pertaining to such seller, as such, furnished in writing to the Company by such seller specifically for use in such registration statement or prospectus; and
provided, further, however, that the liability of each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the securities
sold by such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the proceeds received by such seller from the sale of Registrable Securities covered by
such registration statement. Not in limitation of the foregoing, it is understood and agreed that the indemnification obligations of any seller hereunder pursuant to any underwriting agreement entered into in connection herewith shall be limited to
the obligations contained in this subparagraph (b). 
 (c) Promptly after receipt by an indemnified party hereunder of notice of
the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof but the omission so to notify the indemnifying party
shall not relieve it from any liability which it may have to such indemnified party other than under this Section 4.4 and shall only relieve it from any liability which it may have to such indemnified party under this Section 4.4 if and to
the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled
to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume
and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 4.4 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other
than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have
reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or that the interests of the indemnified party reasonably may be deemed to conflict with
the interests of the indemnifying party, the indemnified party shall have the right to select a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the expenses and fees of such
separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred. No indemnifying party, in the defense of any such claim or action, shall, except with the consent of each indemnified party,
consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or
action. Each indemnified party shall furnish such information regarding itself or the claim in question as an indemnifying party may reasonably request in writing and as shall be reasonably required in connection with defense of such claim and
litigation resulting therefrom. 
 (d) In order to provide for just and equitable contribution to joint liability under the
Securities Act in any case in which either (i) any holder of Registrable Securities exercising rights under this Agreement, or any controlling person of any such holder, makes a claim for indemnification pursuant to this Section 4.4 but it
is judicially determined (by the entry of a final 

  
 10 

 
judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case
notwithstanding the fact that this Section 4.4 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of any such selling holder or any such controlling person in circumstances
for which indemnification is provided under this Section 4.4; then, and in each such case, the Company and such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from
others) in such proportion so that such holder is responsible for the portion represented by the percentage that the public offering price of its Registrable Securities offered by the registration statement bears to the public offering price of all
securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) no such holder of Registrable Securities will be required to contribute any
amount in excess of the proceeds received from the sale of all such Registrable Securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. 
 (e) The indemnities and obligations provided in this Section 4.4 shall survive the transfer of any Registrable Securities by such holder. 
 4.5 Changes in Common Stock. If, and as often as, there is any change in the Common Stock by way of a stock split, stock dividend, combination or reclassification, or through a merger,
consolidation, reorganization or recapitalization, or by any other means, appropriate adjustment shall be made in the provisions hereof so that the rights and privileges granted hereby shall continue with respect to the Common Stock as so changed.

 4.6 Rule 144 Reporting. With a view to making available the benefits of certain rules and regulations of the Commission which may at
any time permit the sale of the Registrable Securities to the public without registration, except as provided in paragraph (c) below, at all times after ninety (90) days after any registration statement covering a public offering of
securities of the Company under the Securities Act shall have become effective, the Company agrees to: 
 (a) make and keep
public information available, as those terms are understood and defined in Rule 144 under the Securities Act (or any successor rule); 
 (b) use its best efforts to file with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act; and 

(c) furnish to each holder of Registrable Securities forthwith upon request a written statement by the Company as to its compliance with
the reporting requirements of such Rule 144 (or any successor rule) and, at any time after it has become subject to such reporting requirements, of the Securities Act and the Exchange Act, a copy of the most recent annual or quarterly report of the
Company, and such other reports and documents so filed by the Company as such holder may reasonably request in availing itself of any rule or regulation of the Commission allowing such holder to sell any Registrable Securities without registration.

  
 11 

 4.7 “Market Stand-Off” Agreement. Each of the Investors agrees, severally and not jointly,
if requested by the Company and an underwriter of Common Stock (or other securities) of the Company, not to sell or otherwise transfer or dispose of any Common Stock (or other securities) of the Company held by such Investor during a period not to
exceed one hundred and eighty (180) days following the effective date of a registration statement of the Company filed under the Securities Act, and to enter into an agreement to such effect; provided that (y) all persons including
Shares in such offering and (z) all of the Company’s officers, directors and holders of at least 5% of the outstanding Common Stock (or securities convertible into at least 5% of the Common Stock) also enter into agreements to such effect.

 The Company may impose stop-transfer instructions with respect to the shares (or securities) subject to the foregoing
restriction until the end of said period. 
 4.8 Assignment of Registration Rights. The rights to cause the Company to register
Registrable Securities pursuant to this Section 4 may be assigned (but only with all related obligations) by a holder of Registrable Securities to a transferee or assignee of such securities who is not engaged in a business activity competitive
with the Company (as reasonably determined by the Company’s Board of Directors) and who, after such assignment or transfer, holds at least 50,000 shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock
dividends, combinations and similar recapitalization events), provided the Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee or assignee and the securities with respect
to which such registration rights are being assigned; and provided, further, that such assignment shall be effective only if (i) immediately following such transfer the further disposition of such securities by the transferee or assignee is
restricted under the Act and (ii) the transferee or assignee shall acknowledge in writing that the transferred or assigned Registrable Securities shall remain subject to this Agreement. For the purposes of determining the number of shares of
Registrable Securities held by a transferee or assignee, the holdings of transferees and assignees of a partnership who are partners or retired partners of such partnership (including spouses and ancestors, lineal descendants and siblings of such
partners or spouses who acquire Registrable Securities by gift, will or intestate succession) shall be aggregated together and with the partnership; provided that all assignees and transferees who would not qualify individually for assignment of
registration rights shall have a single attorney-in-fact for the purpose of exercising any rights, receiving notices or taking any action under this Section 4. 
  

	5.	MISCELLANEOUS 

 5.1 Notices. All
notices, requests, consents and other communications hereunder shall be in writing, shall be addressed to the receiving party’s address set forth below or to such other address as a party may designate by notice hereunder, and shall be either
(i) delivered by hand, (ii) made by telecopy or facsimile transmission, (iii) sent by overnight courier, or (iv) sent by registered or certified mail, return receipt requested, postage prepaid. 

 

			
	If to the Company:	    	Paratek Pharmaceuticals, Inc.
		    	75 Kneeland Street
		    	Room 1526
		    	Boston, MA 02111
		    	Attn: George C. Hillman, COO

  
 12 

			
		
	With a copy to:	    	Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
		    	One Financial Center
		    	Boston, MA 02111
		    	Attn: Lewis J. Geffen, Esq.
		
	If to the Investors:	    	To the addresses set forth in the Purchase Agreement.

 All notices, requests, consents and other communications hereunder shall be deemed to have been given
either (i) if by hand, at the time of the delivery thereof to the receiving party at the address of such party set forth above, (ii) if made by telecopy or facsimile transmission, at the time that receipt thereof has been acknowledged by
electronic confirmation or otherwise, (iii) if sent by overnight courier, on the next business day following the day such notice is delivered to the courier service, or (iv) if sent by registered or certified mail, on the fifth business
day following the day such mailing is made. 
 5.2 Entire Agreement. This Agreement embodies the entire agreement and understanding
between the parties hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or agreement of any
kind not expressly set forth in this Agreement shall affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement. 
 5.3 Modifications and Amendments. This Agreement may not be amended or modified, and no provision hereof may be waived, without the written consent of the Company and the holders of at least fifty
percent (50 %) of the outstanding shares of Series A Preferred Stock. Any waiver or consent hereunder shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or
consent. 
 5.4 Assignment. The rights and obligations under this Agreement may not be assigned by the Company without the prior written
consent of at least a majority of the holders of Registrable Securities, unless specifically permitted by the terms hereof. 
 5.5
Benefit. All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto and shall inure to the benefit of the respective successors and permitted assigns of each party hereto.
Nothing in this Agreement shall be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded as a third-party beneficiary of this Agreement. 

5.6 Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by
the law of the Commonwealth of Massachusetts, without giving effect to the conflict of law principles thereof. 
 5.7 Jurisdiction and
Service of Process. Any legal action or proceeding with respect to this Agreement shall be brought in the courts of the State of Massachusetts or of the United States of America for the District of Massachusetts. By execution and delivery of
this Agreement, each of 

  
 13 

 
the parties hereto accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. Each of the parties hereto irrevocably consents to
the service of process of any of the aforementioned courts in any such action or proceeding by the mailing of copies thereof by certified mail, postage prepaid, to the party at its address set forth in Section 5.1 hereof. 

5.8 Severability. In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in
this Agreement shall be unenforceable in any respect, then such provision shall be deemed limited to the extent that such court deems it enforceable, and as so limited shall remain in full force and effect. In the event that such court shall deem
any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement shall nevertheless remain in fill force and effect. 
 5.9 Interpretation. The parties hereto acknowledge and agree that: (i) each party and its counsel reviewed and negotiated the terms and provisions of this Agreement and have contributed to its
revision; (ii) the rule of construction to the effect that any ambiguities are resolved against the drafting party shall not be employed in the interpretation of this Agreement; and (iii) the terms and provisions of this Agreement shall be
construed fairly as to all parties hereto and not in favor of or against any party, regardless of which party was generally responsible for the preparation of this Agreement. 
 5.10 Headings and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference only and shall in no way modify or affect the meaning or
construction of any of the terms or provisions hereof. 
 5.11 Enforcement. Each of the parties hereto acknowledges and agrees that the
rights acquired by each party hereunder are unique and that irreparable damage would occur in the event that any of the provisions of this Agreement to be performed by the other parties were not performed in accordance with their specific terms or
were otherwise breached. Accordingly, in addition to any other remedy to which the parties hereto are entitled at law or in equity, each party hereto shall be entitled an injunction or injunctions to prevent breaches of this Agreement by any other
party and to enforce specifically the terms and provisions hereof in any federal or state court to which the parties have agreed hereunder to submit to jurisdiction. 
 5.12 No Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement, and no course of dealing among the parties
hereto, shall operate as a waiver of any such right, power or remedy of the party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance of steps to enforce any such
right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver of the right of
such party to pursue other available remedies. No notice to or demand on a party not expressly required under this Agreement shall entitle the party receiving such notice or demand to any other or further notice or demand in similar or other
circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other or further action in any circumstances without such notice or demand. 

  
 14 

 5.13 Accession. Any Investor who becomes a Purchaser after the date hereof shall automatically become
an Investor hereunder by delivering to the Company an executed signature page by which such Investor agrees to be bound by the obligations imposed under this Agreement, whereupon such Investor shall automatically become a party to this Agreement and
shall thereupon be deemed an “Investor” for all purposes of this Agreement. 
 5.14 Counterparts. This Agreement may be
executed in one or more counterparts, and by different parties hereto on separate counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

  
 15 

 IN WITNESS WHEREOF, the parties hereto have executed this Investor Rights Agreement
or caused this Agreement to be executed by their duly authorized representatives, as of the date first written above. 
  

					
	PARATEK PHARMACEUTICALS, INC.
		
	By:	 	 /s/ George C. Hillman

		 	Name:	 	George C. Hillman
		 	Title:	 	Executive Vice President and
		 		 	Chief Operating Officer
	
	INVESTOR:
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 16 

 IN WITNESS WHEREOF, the parties hereto have executed this Investor Rights Agreement
or caused this Agreement to be executed by their duly authorized representatives, as of the date first written above. 
  

					
	PARATEK PHARMACEUTICALS, INC.
		
	By:	 	 /s/ George C. Hillman

		 	Name:	 	George C. Hillman
		 	Title:	 	Executive Vice President and
		 		 	Chief Operating Officer
	
	INVESTOR:
	
	Craig L. Bork 1486 Children’s Trust
		
	By:	 	 /s/ William P. Egan

		 	Name:	 	William P. Egan
		 	Title:	 	Trustee

 IN WITNESS WHEREOF, the parties hereto have executed this Investor Rights Agreement or
caused this Agreement to be executed by their duly authorized representatives, as of the date first written above. 
  

					
	PARATEK PHARMACEUTICALS, INC.
		
	By:	 	 /s/ George C. Hillman

		 	Name:	 	George C. Hillman
		 	Title:	 	Executive Vice President and
		 		 	Chief Operating Officer
	
	INVESTOR:
		
	By:	 	 /s/ Walter Gilbert

		 	Name:	 	Walter Gilbert, Ph.D.
		 	Title:	 	
		
	 	 	/s/ Celia Gilbert
		 	Celia Gilbert

 IN WITNESS WHEREOF, the parties hereto have executed this Investor Rights Agreement or
caused this Agreement to be executed by their duly authorized representatives, as of the date first written above. 
  

					
	PARATEK PHARMACEUTICALS, INC.
		
	By:	 	 /s/ George C. Hillman

		 	Name:	 	George C. Hillman
		 	Title:	 	Executive Vice President and
		 		 	Chief Operating Officer
	
	INVESTOR:
		
	By:	 	 /s/ Charles Levy

		 	Name:	 	
		 	Title:	 	
		
	By:	 	 /s/ Ruth B. Levy

		 	Name	 	

 IN WITNESS WHEREOF, the parties hereto have executed this Investor Rights Agreement or
caused this Agreement to be executed by their duly authorized representatives, as of the date first written above. 
  

			
	PARATEK PHARMACEUTICALS, INC.
		
	By:	 	 /s/ George C. Hillman

		 	Name:
		 	Title:
	
	INVESTOR:
	
	ML INVESTMENTS LLC
		
	By:	 	 /s/ Irwin Heller

	Name:
	Title:

 IN WITNESS WHEREOF, the parties hereto have executed this Investor Rights Agreement or
caused this Agreement to be executed by their duly authorized representatives, as of the date first written above. 
  

					
	PARATEK PHARMACEUTICALS, INC.
		
	By:	 	 /s/ George C. Hillman

		 	Name:	 	
		 	Title:	 	Executive Vice President
	
	INVESTOR:
		
	By:	 	 /s/ Kenneth J. Novack

	Name: Kenneth J. Novack
	Title:

 IN WITNESS WHEREOF, the parties hereto have executed this Investor Rights Agreement or
caused this Agreement to be executed by their duly authorized representatives, as of the date first written above. 
  

					
	PARATEK PHARMACEUTICALS, INC.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	INVESTOR:
		
	By:	 	 /s/ Harold Snyder

	Name: Harold Snyder
	Title:

 IN WITNESS WHEREOF, the parties hereto have executed this Investor Rights Agreement or
caused this Agreement to be executed by their duly authorized representatives, as of the date first written above. 
  

					
	PARATEK PHARMACEUTICALS, INC.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	INVESTOR:
		
	By:	 	 /s/ Harold Snyder

	Name: Harold Snyder
	Title: President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}]]