Document:

Exhibit 4.1

 Exhibit 4.1 
  

 
  

CERTIFICATE NUMBER SHARES COMMON STOCK $0.001 Par Value CoLucid Pharmaceuticals, Inc. CUSIP 19716T 101 INCORPORATED UNDER
THE LAWS OF THE STATE OF DELAWARE SEE REVERSE FOR CERTAIN DEFINITIONS This Certifies that is the owner of fully paid and nonassessable Shares of the Common Stock, $0.001 par value per share, of CoLucid Pharmaceuticals, Inc. transferable only on the
books of said Corporation in person or by duly authorized attorney upon surrender of this Certificate properly endorsed. This Certificate is not valid unless countersigned by the Transfer Agent and registered by the Registrar. Witness the facsimile
seal of the Corporation and the facsimile signatures of its duly authorized officers. Dated: S P E C I M E NCORPORATE SEAL S P E C I M E N President Secretary 

 

 
  
 THE
CORPORATION WILL FURNISH WITHOUT CHARGE TO EACH STOCKHOLDER WHO SO REQUESTS, THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER RIGHTS OF EACH CLASS OF STOCK OF THE CORPORATION AND THE QUALIFICATIONS, LIMITATIONS OR
RESTRICTIONS OF SUCH PREFERENCES AND/OR RIGHTS. The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: TEN
COM—as tenants in common UNIF GIFT MIN ACT Custodian (Cust) (Minor) Under Uniform Gifts to Minors Act (State) TEN ENT—as tenants by the entireties JT TEN—as joint tenants with right of survivorship and not as tenants in common
Additional abbreviations may also be used though not in the above list. FOR VALUE RECEIVED, HEREBY SELL, ASSIGN AND TRANSFER UNTO PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS,
INCLUDING POSTAL ZIP CODE OF ASSIGNEE Shares of the common stock represented by the within Certificate, and do(es) hereby irrevocably constitute and appoint Attorney To transfer the said stock on the books of the within-named Corporation with full
power of substitution in the premises. Dated X X NOTICE: THE SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME(S) AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.
Signature(s) Guaranteed: THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS, AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT
TO S.E.C. RULE 17Ad-15.Exhibit 4.2

 Exhibit 4.2 

SECOND AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
			
	1.	 	Definitions	  	 	1	  
			
	2.	 	Registration Rights	  	 	4	  
		 	2.1	  	Demand Registration	  	 	4	  
		 	2.2	  	Company Registration	  	 	5	  
		 	2.3	  	Form S-3 Registration	  	 	6	  
		 	2.4	  	Underwriting Requirements	  	 	6	  
		 	2.5	  	Obligations of the Company	  	 	8	  
		 	2.6	  	Furnish Information	  	 	9	  
		 	2.7	  	Expenses of Registration	  	 	10	  
		 	2.8	  	Delay of Registration	  	 	10	  
		 	2.9	  	Indemnification	  	 	10	  
		 	2.10	  	Reports Under Exchange Act	  	 	12	  
		 	2.11	  	Limitations on Subsequent Registration Rights	  	 	13	  
		 	2.12	  	Market Stand-off Agreement	  	 	13	  
		 	2.13	  	Assignment of Registration Rights	  	 	14	  
		 	2.14	  	Restrictions on Transfer	  	 	14	  
		 	2.15	  	Termination of Registration Rights	  	 	16	  
			
	3.	 	Information and Observer Rights	  	 	16	  
		 	3.1	  	Delivery of Financial Statements	  	 	16	  
		 	3.2	  	Inspection	  	 	18	  
		 	3.3	  	Observer Rights	  	 	18	  
		 	3.4	  	Termination of Information and Observer Rights	  	 	19	  
		 	3.5	  	Committee Rights	  	 	19	  
		 	3.6	  	Confidentiality	  	 	19	  
			
	4.	 	Rights to Future Stock Issuances	  	 	19	  
		 	4.1	  	Right of First Offer	  	 	19	  
		 	4.2	  	Termination	  	 	21	  
			
	5.	 	Additional Covenants	  	 	22	  
		 	5.1	  	Insurance	  	 	22	  
		 	5.2	  	Employee Agreements	  	 	22	  
		 	5.3	  	Option Plan	  	 	22	  
		 	5.4	  	Qualified Small Business Stock	  	 	22	  
		 	5.5	  	Meetings of the Board of Directors	  	 	23	  
		 	5.6	  	Successor Indemnification	  	 	23	  
		 	5.7	  	Board Expenses and Compensation	  	 	23	  
		 	5.8	  	Matters Requiring Series C Director Approval	  	 	23	  
		 	5.9	  	Right to Conduct Activities	  	 	24	  
		 	5.10	  	FCPA	  	 	24	  
		 	5.11	  	Termination of Covenants	  	 	25	  

  
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	6.		Miscellaneous		 	25	  
			6.1		Successors and Assigns		 	25	  
			6.2		Governing Law		 	25	  
			6.3		Counterparts		 	25	  
			6.4		Titles and Subtitles		 	25	  
			6.5		Notices		 	26	  
			6.6		Amendments and Waivers		 	26	  
			6.7		Severability		 	27	  
			6.8		Aggregation of Stock		 	27	  
			6.9		Entire Agreement		 	27	  
			6.10		Delays or Omissions		 	28	  
			6.11		Acknowledgement		 	28	  

  

					
	Schedule A		-		Schedule of Series A Investors
	Schedule B		-		Schedule of Series B Investors
	Schedule C		-		Schedule of Series C Investors

  
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 SECOND AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT 

THIS SECOND AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Agreement”) is made as of the 12th day of
January, 2015, by and among CoLucid Pharmaceuticals, Inc., a Delaware corporation (the “Company”), each of the investors listed on Schedule A hereto (each a “Series A Investor” and collectively, the
“Series A Investors”), each of the investors listed on Schedule B hereto (each a “Series B Investor” and collectively, the “Series B Investors”) and each of the investors listed on
Schedule C hereto (each a “Series C Investor” and collectively, the “Series C Investors”). The Series A Investors, Series B Investors and Series C Investors are referred to herein individually as an
“Investor” and collectively as the “Investors.” 
 RECITALS 

WHEREAS, the Series A Investors and Series B Investors possess registration rights, information rights, rights of first offer and other
rights pursuant to the First Amended and Restated Investors’ Rights Agreement dated as of June 6, 2008, by and among the Company, the Series A Investors and the Series B Investors (the “Prior Agreement”); 

WHEREAS, the Company and the Series C Investors are parties to the Series C Preferred Stock Purchase Agreement of even date herewith
(the “Purchase Agreement”); and 
 WHEREAS, in order to induce the Company to enter into the Purchase Agreement and
to induce the Series C Investors to invest funds in the Company pursuant to the Purchase Agreement, the Investors and the Company hereby agree that this Agreement shall govern the rights of the Investors to cause the Company to register shares of
Common Stock issuable to the Investors, to receive certain information from the Company, and to participate in future equity offerings by the Company, and shall govern certain other matters as set forth in this Agreement. 

NOW, THEREFORE, the Series A Investors and the Series B Investors agree that the Prior Agreement is hereby amended and restated in its
entirety by this Agreement, and the parties to this Agreement further agree as follows: 
 1. Definitions. For purposes of this
Agreement: 
 1.1 “Affiliate” means, with respect to any specified Person, any other Person who or which, directly or
indirectly, controls, is controlled by, or is under common control with such specified Person, including without limitation any partner, officer, director, member, retired member, manager or employee of such Person and any venture capital fund now
or hereafter existing that is controlled by or under common control with one or more general partners or managing members of, or shares the same management company with, such Person. 

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

1.3 “Damages” means any loss, damage, or liability (joint or several) to which a party hereto may become subject under the
Securities Act, the Exchange Act, or other 

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

1.4 “Derivative Securities” means any securities or rights convertible into, or exercisable or exchangeable for (in each
case, directly or indirectly), Common Stock, including options and warrants. 
 1.5 “Exchange Act” means the Securities
Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 
 1.6 “Excluded Registration”
means a registration relating either to the sale of securities to employees of the Company pursuant to a stock option, stock purchase, or similar plan or to an SEC Rule 145 transaction; a registration on any form that does not include substantially
the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities; or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt
securities that are also being registered. 
 1.7 “Form S-3” means such form under
the Securities Act as in effect on the date hereof or any registration form under the Securities Act subsequently adopted by the SEC that permits incorporation of substantial information by reference to other documents filed by the Company with the
SEC. 
 1.8 “GAAP” means generally accepted accounting principles in the United States. 

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

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

1.11 “Initiating Holders” means, collectively, Holders who properly initiate a registration request under this Agreement.

 1.12 “IPO” means the Company’s first underwritten public offering of its Common Stock under the Securities Act.

  
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 1.13 “Key Employee” means any executive-level employee as well as any employee
who, either alone or in concert with others, develops, invents, programs, or designs any Company Intellectual Property (as defined in the Purchase Agreement). 

1.14 “Major Investor” means any Investor that, individually or together with such Investor’s Affiliates, holds at least
five percent (5%) of the shares of Preferred Stock that are issued and outstanding on an as-converted to Common Stock basis. 
 1.15
“New Securities” means, collectively, equity securities of the Company, whether or not currently authorized, as well as rights, options, or warrants to purchase such equity securities, or securities of any type whatsoever that are,
or may become, convertible or exchangeable into or exercisable for such equity securities, but excluding the Preferred Stock issued or issuable pursuant to the Purchase Agreement. 

1.16 “Person” means any individual, corporation, partnership, trust, limited liability company, association or other entity.

 1.17 “Preferred Stock” means, collectively, shares of the Series A Preferred Stock, Series B Preferred Stock and Series
C Preferred Stock. 
 1.18 “Register,” “registered,” and “registration” refer to a
registration effected by preparing and filing a registration statement or similar document in compliance with the Securities Act, and the declaration or ordering of effectiveness of such registration statement or document. 

1.19 “Registrable Securities” means (i) the Common Stock issuable or issued upon conversion of the Preferred Stock,
(ii) any Common Stock issued or issuable to the Investors other than upon conversion of the Preferred Stock, and (iii) any Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right, or other security that is
issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the shares referenced in clause (i) and clause (ii) above; excluding in all cases, however, any Registrable Securities sold
by a Person in a transaction in which the rights under Section 2 hereof are not assigned pursuant to Section 6.1 or any shares for which registration rights have terminated pursuant to Section 2.15 of this
Agreement. 
 1.20 “Registrable Securities then outstanding” means the number of shares determined by adding the number of
shares of outstanding Common Stock that are Registrable Securities and the number of shares of Common Stock issuable (directly or indirectly) pursuant to then exercisable and/or convertible securities that are Registrable Securities. 

1.21 “Restricted Securities” means the securities of the Company required to bear the legend set forth in
Section 2.14(b) hereof. 
 1.22 “SEC” means the Securities and Exchange Commission. 

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

  
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 1.24 “SEC Rule 145” means Rule 145 promulgated by the SEC under the Securities
Act. 
 1.25 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder. 
 1.26 “Selling Expenses” means all underwriting discounts, selling commissions, and stock transfer taxes
applicable to the sale of Registrable Securities, and fees and disbursements of counsel for any Holder, except as provided in Section 2.7. 

1.27 “Series A Preferred Stock” means shares of the Company’s Series A Preferred Stock, par value $0.001 per share. 

1.28 “Series B Preferred Stock” means shares of the Company’s Series B Preferred Stock, par value $0.001 per share. 

1.29 “Series C Director” means a director of the Company that the holders of record of the Series C Preferred Stock,
exclusively and voting together as a separate class, are entitled to elect pursuant to the Company’s Third Amended and Restated Certificate of Incorporation. 

1.30 “Series C Holder” means any holder of Series C Preferred Stock who is a party to this Agreement. 

1.31 “Series C Preferred Stock” means shares of the Company’s Series C Preferred Stock, par value $0.001 per share. 

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

2.1 Demand Registration. 

(a) If at any time after the earlier of: (i) four (4) years after the date of the closing of the Company’s first sale of
Series C Preferred Stock; and (ii) one hundred eighty (180) days after the effective date of the registration statement for the IPO, the Company receives a request from Holders of a majority of the Registrable Securities then outstanding
that the Company effect a registration with respect to at least thirty percent (30%) of the Registrable Securities then outstanding (or a lesser percent if the anticipated aggregate offering price, net of Selling Expenses, would exceed $10
million), then the Company shall (i) within ten (10) days after the date such request is given, give notice thereof (the “Demand Notice”) to all Holders other than the Initiating Holders; and (ii) as soon as
practicable, and in any event within sixty (60) days after the date such request is given by the Initiating Holders, file a registration statement under the Securities Act covering all Registrable Securities that the Initiating Holders
requested to be registered and any additional Registrable Securities requested to be included in such registration by any other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days of the date the
Demand Notice is given, and in each case, subject to the limitations of Section 2.1(b). 

  
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 (b) Notwithstanding the foregoing obligations, if the Company furnishes to Holders requesting a
registration pursuant to this Section 2.1 a certificate signed by the Company’s chief executive officer stating that in the good faith judgment of the Company’s Board of Directors it would be materially detrimental to the
Company and its stockholders for such registration statement to either become effective or remain effective for as long as such registration statement otherwise would be required to remain effective, because such action would (i) materially
interfere with a significant acquisition, corporate reorganization, or other similar transaction involving the Company; (ii) require premature disclosure of material information that the Company has a bona fide business purpose for preserving
as confidential; or (iii) render the Company unable to comply with requirements under the Securities Act or Exchange Act, then the Company shall have the right to defer taking action with respect to such filing, and any time periods with
respect to filing or effectiveness thereof shall be tolled correspondingly, for a period of not more than sixty (60) days after the request of the Initiating Holders is given; provided, however, that the Company may not invoke this right
more than once in any twelve (12) month period; and provided further that the Company shall not register any securities for its own account or that of any other stockholder during such sixty (60) day period other than pursuant to an
Excluded Registration. 
 (c) The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to
this Section 2.1 (i) during the period that is sixty (60) days before the Company’s good faith estimate of the date of filing of, and ending on a date that is one hundred eighty (180) days after the effective date of,
a Company-initiated registration, provided, that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; (ii) after the Company has effected two
registrations under this Section 2.1; or (iii) if the Initiating Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3 pursuant to a request made pursuant to
Section 2.3. A registration shall not be counted as “effected” for purposes of this Section 2.1 until such time as the applicable registration statement has been declared or ordered effective by the SEC and pursuant
to which securities have been sold, unless the Initiating Holders withdraw their request for such registration, elect not to pay the registration expenses therefor, and forfeit their right to one demand registration statement pursuant to
Section 2.7, in which case such withdrawn registration statement shall be counted as “effected” for purposes of this Section 2.1 unless such withdrawal was due to a material adverse change in the condition,
business, or prospects of the Company from that known to the Holders at the time of their request and such Holders have withdrawn the request with reasonable promptness after learning of such information. 

2.2 Company Registration. If the Company proposes to register (including, for this purpose, a registration effected by the Company for
stockholders other than the Holders) any of its stock or other securities under the Securities Act in connection with the public offering of such securities solely for cash (other than an Excluded Registration), the Company shall, at such time,
promptly give each Holder notice of such registration. Upon the request of each Holder given within twenty (20) days after such notice is given by the Company, the Company shall, subject to the provisions of Section 2.4, cause to be
registered all of the Registrable Securities that each such Holder has requested to be included in such registration. The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2.2
before the effective date of such registration, whether or not any Holder has elected to include Registrable Securities in such registration. The expenses of such withdrawn registration shall be borne by the Company in accordance with
Section 2.7. 

  
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 2.3 Form S-3 Registration. If the Company receives
a request from Holders of at least twenty percent (20%) of the Registrable Securities then outstanding that the Company effect a registration on Form S-3 with respect to all or a part of the Registrable
Securities owned by such Initiating Holders, then the Company shall: 
 (a) within ten (10) days after the date such request is given,
give notice of the proposed registration to all Holders other than the Initiating Holders (the “S-3 Notice”); and 

(b) as soon as practicable, use its commercially reasonable efforts to effect such registration as would permit or facilitate the sale and
distribution of all or such portion of such Initiating Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other Holders joining in such request as are
specified in a request given to the Company within fifteen (15) days after the S-3 Notice is given; provided, however, that the Company shall not be obligated to effect any such registration
pursuant to this Section 2.3 (i) if Form S-3 is not then available for such offering by the Holders; (ii) if the Holders, together with the holders of any other securities of the Company
entitled to and requesting inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at an aggregate price to the public (net of Selling Expenses) of less than $5 million; (iii) if the Company
furnishes to the Holders a certificate signed by the chief executive officer of the Company stating that in the good-faith judgment of the Board of Directors of the Company, it would be materially detrimental to the Company and its stockholders for
such Form S-3 registration to be effected at such time, in which event the Company shall have the right to defer the filing of the Form S-3 registration statement for a
period of not more than sixty (60) days after receipt of the request of the Initiating Holders under this Section 2.3; provided, however, that the Company may not invoke this right more than twice in any twelve
(12) month period; and provided further that the Company shall not register any securities for its own account or that of any other stockholder during such sixty (60) day period other than pursuant to an Excluded Registration; or
(iv) if the Company has, within the twelve (12) month period preceding the date of such request, already effected two registrations on Form S-3 for the Holders pursuant to this
Section 2.3; or (v) during the period ending one hundred eighty (180) days after the effective date of a registration made under Section 2.2 hereof. 

(c) Registrations effected pursuant to this Section 2.3 shall not be counted as demands for registration or registrations
effected pursuant to Section 2.1. 
 2.4 Underwriting Requirements 

(a) If, pursuant to Section 2.1 or Section 2.3, the Initiating Holders intend to distribute the Registrable
Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to 

  
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Section 2.1(a) or Section 2.3, and the Company shall include such information in the Demand Notice or the S-3 Notice, as the case may be. The underwriter will be selected
by the Initiating Holders, subject only to the reasonable approval of the Company. In such event, the right of any Holder to include such Holder’s Registrable Securities in such registration shall be conditioned upon such Holder’s
participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with
the Company as provided in Section 2.5(e)) enter into an underwriting agreement in customary form with the managing underwriter(s) selected for such underwriting. Notwithstanding any other provision of this Section 2.4, if
the managing underwriter(s) advise(s) the Initiating Holders in writing that marketing factors require a limitation on the number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of Registrable Securities that
otherwise would be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be allocated among all Holders of Registrable Securities, including the Initiating Holders, in proportion (as
nearly as practicable) to the number of Registrable Securities of the Company owned by each Holder; provided, however, that the number of Registrable Securities held by the Holders to be included in such underwriting shall not be reduced
unless all other securities are first entirely excluded from the underwriting. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to
the nearest 100 shares. 
 (b) In connection with any offering involving an underwriting of shares of the Company’s capital stock
pursuant to Section 2.2, the Company shall not be required to include any of the Holders’ Registrable Securities in such underwriting unless the Holders accept the terms of the underwriting as agreed upon between the Company and its
underwriters, and then only in such quantity as the underwriters in their sole discretion determine will not jeopardize the success of the offering by the Company. If the total number of securities, including Registrable Securities, requested by
stockholders to be included in such offering exceeds the number of securities to be sold (other than by the Company) that the underwriters in their reasonable discretion determine is compatible with the success of the offering, then the Company
shall be required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters and the Company in their sole discretion determine will not jeopardize the success of the offering. In no
event shall any Registrable Securities be excluded from such offering unless all other stockholders’ securities have been first excluded. Subject to the foregoing, if the underwriters determine that less than all of the Registrable Securities
requested to be registered can be included in such offering, then the Registrable Securities that are included in such offering shall be apportioned pro rata among the selling Holders based on the number of Registrable Securities held by all selling
Holders or in such other proportions as shall mutually be agreed to by all such selling Holders. Notwithstanding the foregoing, in no event shall the number of Registrable Securities included in the offering be reduced below thirty percent
(30%) of the total number of securities included in such offering, unless such offering is the IPO, in which case the selling Holders may be excluded further if the managing underwriters make the determination described above and no other
stockholder’s securities are included in such offering. For purposes of the provision in this Section 2.4(b) concerning apportionment, for any selling stockholder that is a Holder and a partnership, limited liability company, or
corporation, the partners, members, retired partners, 

  
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retired members, stockholders, and Affiliates of such Holder, or the estates and Immediate Family Members of any such partners, retired partners, members, and retired members and any trusts for
the benefit of any of the foregoing Persons, shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate number of Registrable Securities
owned by all Persons included in such “selling Holder,” as defined in this sentence. 
 (c) For purposes of
Section 2.1 and Section 2.3, a registration shall not be counted as “effected” if, as a result of an exercise of the underwriter’s cutback provisions in Section 2.4(a), fewer than fifty percent
(50%) of the total number of Registrable Securities that Holders have requested to be included in such registration statement are actually included. 

2.5 Obligations of the Company. Whenever required under this Section 2 to effect the registration of any Registrable
Securities, the Company shall, as expeditiously as reasonably possible: 
 (a) prepare and file with the SEC a registration statement with
respect to such Registrable Securities and use its commercially reasonable efforts to cause such registration statement to become effective and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep
such registration statement effective for a period of up to one hundred twenty (120) days or, if earlier, until the distribution contemplated in the registration statement has been completed; provided, however, that (i) such one
hundred twenty (120) day period shall be extended for a period of time equal to the period the Holder refrains, at the request of an underwriter of Common Stock (or other securities) of the Company, from selling any securities included in such
registration, and (ii) in the case of any registration of Registrable Securities on Form S-3 that are intended to be offered on a continuous or delayed basis, subject to compliance with applicable SEC rules, such one hundred twenty
(120) day period shall be extended for up to one hundred twenty (120) days, if necessary, to keep the registration statement effective until all such Registrable Securities are sold; 

(b) prepare and file with the SEC such amendments and supplements to such registration statement, and the prospectus used in connection with
such registration statement, as may be necessary to comply with the Securities Act in order to enable the disposition of all securities covered by such registration statement; 

(c) furnish to the selling Holders such numbers of copies of a prospectus, including a preliminary prospectus, as required by the Securities
Act, and such other documents as the Holders may reasonably request in order to facilitate their disposition of their Registrable Securities; 

(d) use its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other
securities or blue-sky laws of such jurisdictions as shall be reasonably requested by the selling Holders; provided that the 

  
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Company shall not be required to qualify to do business or to file a general consent to service of process in any such states or jurisdictions, unless the Company is already subject to service in
such jurisdiction and except as may be required by the Securities Act; 
 (e) in the event of any underwritten public offering, enter into
and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering; 

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

(g) provide a transfer agent and registrar for all Registrable Securities registered pursuant to this Agreement and provide a CUSIP number
for all such Registrable Securities, in each case not later than the effective date of such registration; 
 (h) promptly make available
for inspection by the selling Holders, any managing underwriter participating in any disposition pursuant to such registration statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the selling
Holders, all financial and other records, pertinent corporate documents, and properties of the Company, and cause the Company’s officers, directors, employees, and independent accountants to supply all information reasonably requested by any
such seller, underwriter, attorney, accountant, or agent in connection with any such registration statement and to conduct appropriate due diligence in connection therewith; 

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

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

  
 9 

 2.7 Expenses of Registration. All expenses (other than Selling Expenses) incurred in
connection with registrations, filings, or qualifications pursuant to Section 2, including all registration, filing, and qualification fees; printers’ and accounting fees; fees and disbursements of counsel for the Company; and the
reasonable fees and disbursements of one counsel for the selling Holders, shall be borne and paid by the Company; provided, however, that the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant
to Section 2.1 or Section 2.3 if the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case all selling Holders shall bear such
expenses pro rata based upon the number of Registrable Securities that were to be included in the withdrawn registration), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to one registration pursuant to
Section 2.1 or Section 2.3, as the case may be; provided further that if, at the time of such withdrawal, the Holders have learned of a material adverse change in the condition, business, or prospects of the Company
from that known to the Holders at the time of their request and have withdrawn the request with reasonable promptness after learning of such information, then the Holders shall not be required to pay any of such expenses and shall not forfeit their
right to one registration pursuant to Section 2.1 or Section 2.3. All Selling Expenses relating to Registrable Securities registered pursuant to this Section 2 shall be borne and paid by the Holders pro rata on
the basis of the number of Registrable Securities registered on their behalf. 
 2.8 Delay of Registration. No Holder shall have any
right to obtain or seek an injunction restraining or otherwise delaying any registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2.

 2.9 Indemnification. If any Registrable Securities are included in a registration statement under this Section 2: 

(a) To the extent permitted by law, the Company will indemnify and hold harmless each selling Holder, and the partners, members, officers,
directors, and stockholders of each such Holder; legal counsel and accountants for each such Holder; any underwriter (as defined in the Securities Act) for each such Holder; and each Person, if any, who controls such Holder or underwriter within the
meaning of the Securities Act or the Exchange Act, against any Damages, and the Company will pay to each such Holder, underwriter, controlling Person, or other aforementioned Person any legal or other expenses reasonably incurred thereby in
connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this Section 2.9(a) shall not apply to amounts
paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the Company be liable for any Damages to the extent that they arise out
of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of such Holder, underwriter, controlling Person, or other aforementioned Person expressly for use in connection with
such registration. 

  
 10 

 (b) To the extent permitted by law, each selling Holder, severally and not jointly, will
indemnify and hold harmless the Company, and each of its directors, each of its officers who has signed the registration statement, each Person (if any), who controls the Company within the meaning of the Securities Act, legal counsel and
accountants for the Company, any underwriter (as defined in the Securities Act), any other Holder selling securities in such registration statement, and any controlling Person of any such underwriter or other Holder, against any Damages, in each
case only to the extent that such Damages arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of such selling Holder expressly for use in connection with such
registration; and each such selling Holder will pay to the Company and each other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages
may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this Section 2.9(b) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected
without the consent of the Holder, which consent shall not be unreasonably withheld; and provided further that in no event shall the aggregate amounts payable by any Holder by way of indemnity or contribution under Section 2.9(b) and
Section 2.9(e) exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of fraud or willful misconduct by such Holder. 

(c) Promptly after receipt by an indemnified party under this Section 2.9 of notice of the commencement of any action (including
any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 2.9, give the
indemnifying party notice of the commencement thereof. The indemnifying party shall have the right to participate in such action and, to the extent the indemnifying party so desires, participate jointly with any other indemnifying party to which
notice has been given, and to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may be represented without conflict by one
counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due
to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such action. The failure to give notice to the indemnifying party within a reasonable time of the commencement of any such
action shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.9, to the extent that such failure materially prejudices the indemnifying party’s ability to defend such action. The failure
to give notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 2.9. 

(d) The foregoing indemnity agreements of the Company and the selling Holders are subject to the condition that, insofar as they relate to
any Damages arising from any untrue statement or alleged untrue statement of a material fact contained in, or omission or alleged omission of a material fact from, a preliminary prospectus (or necessary to make the statements therein not misleading)
that has been corrected in the form of prospectus 

  
 11 

 
included in the registration statement at the time it becomes effective, or any amendment or supplement thereto filed with the SEC pursuant to Rule 424(b) under the Securities Act (the
“Final Prospectus”), such indemnity agreement shall not inure to the benefit of any Person if a copy of the Final Prospectus was furnished to the indemnified party and such indemnified party failed to deliver, at or before the
confirmation of the sale of the shares registered in such offering, a copy of the Final Prospectus to the Person asserting the loss, liability, claim, or damage in any case in which such delivery was required by the Securities Act. 

(e) To provide for just and equitable contribution to joint liability under the Securities Act in any case in which either (i) any party
otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Section 2.9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the
expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact that this Section 2.9 provides for indemnification in such case, or
(ii) contribution under the Securities Act may be required on the part of any party hereto for which indemnification is provided under this Section 2.9, then, and in each such case, such parties will contribute to the aggregate
losses, claims, damages, liabilities, or expenses to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of each of the indemnifying party and the indemnified party in
connection with the statements, omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable considerations. The relative fault of the indemnifying party and of the
indemnified party shall be determined by reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates to information supplied by the
indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided, however, that, in any such case, (x) no Holder
will be required to contribute any amount in excess of the public offering price of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement, and (y) no Person guilty of fraudulent
misrepresentation (within the meaning of section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation; and provided further that in no event shall a Holder’s
liability pursuant to this Section 2.9(e), when combined with the amounts paid or payable by such Holder pursuant to Section 2.9(b), exceed the proceeds from the offering received by such Holder (net of any Selling Expenses
paid by such Holder), except in the case of willful misconduct or fraud by such Holder. 
 (f) Unless otherwise superseded by an
underwriting agreement entered into in connection with the underwritten public offering, the obligations of the Company and Holders under this Section 2.9 shall survive the completion of any offering of Registrable Securities in a
registration under this Section 2, and otherwise shall survive the termination of this Agreement. 
 2.10 Reports Under
Exchange Act. With a view to making available to the Holders the benefits of SEC Rule 144 and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or
pursuant to a registration on Form S-3, the Company shall: 
 (a) make and keep available adequate
public information, as those terms are understood and defined in SEC Rule 144, at all times after the effective date of the registration statement filed by the Company for the IPO; 

  
 12 

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

(c) furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) to the extent accurate, a
written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety (90) days after the effective date of the registration statement filed by the Company for the IPO), the Securities
Act, and the Exchange Act (at any time after the Company has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any
time after the Company so qualifies); (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company; and (iii) such other information as may be reasonably requested in
availing any Holder of any rule or regulation of the SEC that permits the selling of any such securities without registration (at any time after the Company has become subject to the reporting requirements under the Exchange Act) or pursuant to Form
S-3 (at any time after the Company so qualifies to use such form). 
 2.11 Limitations on
Subsequent Registration Rights. From and after the date of this Agreement, the Company shall not, without the prior written consent of the Holders of a majority of the Registrable Securities then outstanding, enter into any agreement with any
holder or prospective holder of any securities of the Company that would allow such holder or prospective holder (i) to include such securities in any registration unless, under the terms of such agreement, such holder or prospective holder may
include such securities in any such registration only to the extent that the inclusion of such securities will not reduce the number of the Registrable Securities of the Holders that are included or (ii) to demand registration of any securities
held by such holder or prospective holder. 
 2.12 “Market Stand-off” Agreement.
Each Holder hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the IPO and ending on the date specified by the Company and the
managing underwriter (such period not to exceed one hundred eighty (180) days) or, if required by such underwriter, such longer period of time as is necessary to enable such underwriter to issue a research report or make a public appearance
that relates to an earnings release or announcement by the Company within 15-18 days prior to or after the date that is one hundred eighty (180) days after the date of the final prospectus relating to the IPO, but in any event not to exceed one
hundred ninety-eight (198) days following the date of the final 

  
 13 

 
prospectus relating to the IPO (i) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract to sell; grant any option, right, or
warrant to purchase; or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock held immediately before the effective date of the
registration statement for such offering or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described
in clause (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash, or otherwise. The foregoing provisions of this Section 2.12 shall apply only to the IPO, shall not apply to the sale of any
shares to an underwriter pursuant to an underwriting agreement, and shall be applicable to the Holders only if all officers, directors, and stockholders individually owning more than five percent (5%) of the Company’s outstanding Common
Stock are subject to the same restrictions. The underwriters in connection with the IPO are intended third-party beneficiaries of this Section 2.12 and shall have the right, power, and authority to
enforce the provisions hereof as though they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in the IPO that are consistent with this Section 2.12 or that are
necessary to give further effect thereto. Any waiver of the managing underwriter to the terms of this Section 2.12 shall only be valid to the extent such waiver applies to all Registrable Securities on a pro rata basis. 

2.13 Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this
Section 2 may be assigned (but only with all related obligations) by a Holder to a transferee of such Registrable Securities that (i) is an Affiliate, partner, member, limited partner, retired partner, retired member, or stockholder
of a Holder; (ii) is a Holder’s Immediate Family Member or trust for the benefit of an individual Holder or one or more of such Holder’s Immediate Family Members; or (iii) after such transfer, holds at least 25,000 shares of
Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations, and other recapitalizations); provided, however, that (x) the Company is, within a reasonable time after such transfer, furnished
with written notice of the name and address of such transferee and the Registrable Securities with respect to which such registration rights are being transferred; and (y) such transferee agrees in writing to be bound by and subject to the
terms and conditions of this Agreement, including the provisions of Section 2.12. For the purposes of determining the number of shares of Registrable Securities held by a transferee, the holdings of a transferee (1) that is an
Affiliate, limited partner, retired partner, member, retired member, or stockholder of a Holder; (2) who is a Holder’s Immediate Family Member; or (3) that is a trust for the benefit of an individual Holder or such Holder’s
Immediate Family Member shall be aggregated together and with those of the transferring Holder; provided further that all transferees who would not qualify individually for assignment of 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 2. 
 2.14
Restrictions on Transfer 
 (a) The Preferred Stock and the Registrable Securities shall not be sold, pledged, or otherwise
transferred, and the Company shall not recognize any such sale, pledge, or transfer, except upon the conditions specified in this Agreement, which conditions are 

  
 14 

 
intended to ensure compliance with the provisions of the Securities Act. A transferring Holder will cause any proposed purchaser, pledgee, or transferee of the Preferred Stock and the Registrable
Securities held by such Holder to agree to take and hold such securities subject to the provisions and upon the conditions specified in this Agreement. 

(b) Each certificate representing (i) the Preferred Stock, (ii) the Registrable Securities, and (iii) any other securities
issued in respect of the securities referenced in clauses (i) and (ii) upon any stock split, stock dividend, recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of
Section 2.14(c)) be stamped or otherwise imprinted with a legend in the following form: 
 THE SHARES REPRESENTED BY THIS
CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. SUCH SHARES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID EXEMPTION FROM THE REGISTRATION AND
PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE
TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. 
 The Holders consent to the
Company making a notation in its records and giving instructions to any transfer agent of the Restricted Securities in order to implement the restrictions on transfer set forth in this Section 2.14. 

(c) The holder of each certificate representing Restricted Securities, by acceptance thereof, agrees to comply in all respects with the
provisions of this Section 2. Before any proposed sale, pledge, or transfer of any Restricted Securities, unless there is in effect a registration statement under the Securities Act covering the proposed transaction, the Holder thereof
shall give notice to the Company of such Holder’s intention to effect such sale, pledge, or transfer. Each such notice shall describe the manner and circumstances of the proposed sale, pledge, or transfer in sufficient detail and, if reasonably
requested by the Company, shall be accompanied at such Holder’s expense by either (i) a written opinion of legal counsel who shall, and whose legal opinion shall, be reasonably satisfactory to the Company, addressed to the Company, to the
effect that the proposed transaction may be effected without registration under the Securities Act; (ii) a “no action” letter from the SEC to the effect that the proposed sale, pledge, or transfer of such Restricted Securities without
registration will not result in a recommendation by the staff of the SEC that action be taken with respect thereto; or (iii) any other evidence reasonably satisfactory to counsel to the Company to the effect that the proposed sale, pledge, or
transfer of the Restricted Securities may be effected without registration under the Securities Act, whereupon the Holder of such Restricted Securities shall be entitled to sell, pledge, or transfer such Restricted Securities in accordance with the
terms of the notice given by the Holder to the Company, provided that the Holder has complied with the provisions contained 

  
 15 

 
in this Agreement and subject to any other applicable restrictions on transfer. The Company will not require such a legal opinion or “no action” letter (x) in any transaction in
compliance with SEC Rule 144 except in unusual circumstances or (y) in any transaction in which such Holder distributes Restricted Securities to an Affiliate of such Holder for no consideration; provided that each transferee agrees in writing
to be subject to the terms of this Section 2.14(c). Each certificate evidencing the Restricted Securities transferred as above provided shall bear, except if such transfer is made pursuant to SEC Rule 144, the appropriate
restrictive legend set forth in Section 2.14(b), except that such certificate shall not bear such restrictive legend if, in the opinion of counsel for such Holder and the Company, such legend is not required in order to establish
compliance with any provisions of the Securities Act. 
 2.15 Termination of Registration Rights. The right of any Holder to request
registration or inclusion of Registrable Securities in any registration pursuant to Section 2.1, Section 2.2, or Section 2.3 or to be deemed a holder of Registrable Securities pursuant to such sections shall
terminate upon the earliest to occur of: (a) the closing of a Deemed Liquidation Event, as such term is defined in the Company’s Third Amended and Restated Certificate of Incorporation, (b) such time as SEC Rule 144 or another similar
exception under the Securities Act is available for the sale of all such Holder’s shares without limitation during a three-month period without registration and (c) the fifth anniversary of the IPO. 

3. Information and Observer Rights. 

3.1 Delivery of Financial Statements. The Company shall deliver to each Major Investor: 

(a) as soon as practicable, but in any event within one hundred eighty (180) days after the end of each fiscal year of the Company,
(i) a balance sheet as of the end of such year; (ii) statements of income and of cash flows for such year, and a comparison between (x) the actual amounts as of and for such fiscal year and (y) the comparable amounts for the
prior year and as included in the Budget (as defined in Section 3.1(f)) for such year, with an explanation of any material differences between such amounts and a schedule as to the sources and applications of funds for such year; and
(iii) a statement of stockholders’ equity as of the end of such year, all prepared in accordance with GAAP (except as noted therein) and audited and certified by independent public accountants of nationally recognized standing selected by
the Company; 
 (b) as soon as practicable, but in any event within thirty (30) days after the end of each of the first three
(3) quarters of each fiscal year of the Company, (i) unaudited statements of income and of cash flows for such fiscal quarter, and a comparison between (x) the actual amounts as of and for such fiscal quarter and (y) the
comparable amounts for the prior quarter and as included in the Budget for such quarter, with an explanation of any material differences between such amounts and a schedule as to the sources and applications of funds for such quarter, (ii) an
unaudited balance sheet, (iii) a statement of stockholders’ equity as of the 

  
 16 

 
end of such fiscal quarter, and (iv) sales results as of the end of such fiscal quarter, all prepared in accordance with GAAP (except that the financial report may (i) be subject to
normal year-end audit adjustments and (ii) not contain all notes thereto that may be required in accordance with GAAP) and forecasted cash flow and income statements for the next succeeding three quarters and a forecasted balance sheet as of
the end of each of the next succeeding three quarters; 
 (c) as soon as practicable, but in any event within thirty (30) days of the
end of each month, (i) an unaudited income statement and statement of cash flows for such month, and a comparison between (x) the actual amounts as of and for such month and (y) the comparable amounts for the prior month and as
included in the Budget for such month, with an explanation of any material differences between such amounts, and (ii) an unaudited balance sheet and statement of stockholders’ equity as of the end of such month, all prepared in accordance
with GAAP (except that the financial report may (i) be subject to normal year-end audit adjustments and (ii) not contain all notes thereto that may be required in accordance with GAAP), and forecasted cash flow and income statements for
the remainder of the fiscal year and a forecasted balance sheet as of the end of the fiscal year; 
 (d) as soon as practicable after the
end of each month, a monthly report in a form reasonably acceptable to the Major Investors detailing major events of the preceding month, including finance, operations and business development activities; 

(e) promptly upon receipt, a copy of (i) any report from the Company’s auditor, (ii) any notice of a material default by the
Company, (iii) any notice of a proceeding or threat of litigation affecting the Company or (iv) any notice of any fact that would reasonably be anticipated to have a material adverse change in the condition, business, or prospects of the
Company; 
 (f) as soon as practicable, but in any event forty-five (45) days before the end of each fiscal year, a budget and
business plan for the next fiscal year (collectively, the “Budget”), approved by the Board of Directors (which approval must include the approval of the Series C Directors) and prepared on a monthly basis, including balance sheets,
income statements, and statements of cash flow for such months and, promptly after prepared, any other budgets or revised budgets prepared by the Company; and 

(g) such other information relating to the financial condition, business, prospects, or corporate affairs of the Company as any Major
Investor may from time to time reasonably request or as may be provided to directors or representatives of the Investors with board observation rights; provided, however, that the Company shall not be obligated under this
Section 3.1 to provide information (i) that the Company reasonably determines in good faith to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in form acceptable to the
Company) or (ii) the disclosure of which would adversely affect the attorney-client privilege between the Company and its counsel. 

  
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 If, for any period, the Company has any subsidiary whose accounts are consolidated with those of the Company,
then in respect of such period the financial statements delivered pursuant to the foregoing sections shall be the consolidated and consolidating financial statements of the Company and all such consolidated subsidiaries. 

Notwithstanding anything else in this Section 3.1 to the contrary, the Company may cease providing the information set forth in this
Section 3.1 during the period starting with the date sixty (60) days before the Company’s good-faith estimate of the date of filing of a registration statement if it reasonably concludes it must do so to comply with the SEC
rules applicable to such registration statement and related offering; provided that the Company’s covenants under this Section 3.1 shall be reinstated at such time as the Company is no longer actively employing its commercially
reasonable efforts to cause such registration statement to become effective. 
 3.2 Inspection. The Company shall permit each Major
Investor, at such Major Investor’s expense, to visit and inspect the Company’s properties; examine its books of account and records; and discuss the Company’s affairs, finances, and accounts with its officers, during normal business
hours of the Company as may be reasonably requested by the Major Investor; provided, however, that the Company shall not be obligated pursuant to this Section 3.2 to provide access to any information that it reasonably considers
to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in form acceptable to the Company) or the disclosure of which would adversely affect the attorney-client privilege between the Company and
its counsel. 
 3.3 Observer Rights. As long as (i) A. M. Pappas Life Science Ventures III, L.P. (“Pappas”),
(ii) Domain Partners VI, L.P. (“Domain”), (iii) Care Capital LLC, Care Capital Investments III, LP or Care Capital Offshore Investments III, LP (collectively, “Care”), (iv) TVM Life Science Ventures
VII, L.P. / Investissements TVM Science de la vie VII, s.e.c. (“TVM”), (v) Novo A/S (“Novo”), (vi) SICAV Club d’inversors Montserrat, Auriga Investors Montserrat Global Fund or Auriga Global Investors
SV, SA (collectively, “Auriga”) or Triathlon Medical Ventures Fund, L.P. (“Triathlon”) owns any shares of Preferred Stock, the Company shall invite a representative of Pappas, Domain, Care, TVM, Novo, Auriga and/or
Triathlon, as applicable and in each case on an individual Investor basis based on whether such Investor continues to own any shares of Preferred Stock, to attend all meetings of its Board of Directors and any committee thereof and all meetings of
its Scientific Advisory Board, in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices, minutes, consents, and other materials that it provides to its directors at the same time and in the same
manner as provided to such directors; provided, however, that such representative shall agree to hold in confidence and trust and to act in a fiduciary manner with respect to all information so provided; and provided further, that the
Company reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof if access to such information or attendance at such meeting could adversely affect the attorney-client privilege between
the Company and its counsel or result in disclosure of trade secrets or a conflict of interest, or if such Investor or its representative is a competitor of the Company. 

  
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 3.4 Termination of Information and Observer Rights. The covenants set forth in
Section 3.1, Section 3.2 and Section 3.3 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the
periodic reporting requirements of section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Deemed Liquidation Event, as such term is defined in the Company’s Third Amended and Restated Certificate of Incorporation, whichever event
occurs first. 
 3.5 Committee Rights. Promptly following the Closing, the Board of Directors of the Company shall establish an audit
committee and compensation committee. All committees of the Board of Directors of the Company shall consist of three members, at least one of which shall be a Series C Director. 

3.6 Confidentiality. Each Investor agrees that such Investor will keep confidential and will not disclose, divulge, or use for any
purpose (other than to monitor its investment in the Company) any confidential information obtained from the Company pursuant to the terms of this Agreement (including notice of the Company’s intention to file a registration statement), unless
such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this Section 3.6 by such Investor), (b) is or has been independently developed or conceived by the
Investor without use of the Company’s confidential information, or (c) is or has been made known or disclosed to the Investor by a third party without a breach of any obligation of confidentiality such third party may have to the Company;
provided, however, that an Investor may disclose confidential information (i) to its attorneys, accountants, consultants, and other professionals to the extent necessary to obtain their services in connection with monitoring its
investment in the Company; (ii) to any prospective purchaser of any Registrable Securities from such Investor, if such prospective purchaser agrees to be bound by the provisions of this Section 3.6; (iii) to any Affiliate,
partner, limited partner, member, stockholder, or wholly owned subsidiary of such Investor in the ordinary course of business, provided that such Investor informs such Person that such information is confidential and directs such Person to
maintain the confidentiality of such information; or (iv) as may otherwise be required by law, provided that the Investor notifies the Company of such disclosure in advance and takes reasonable steps to minimize the extent of any such
required disclosure, including ensuring that any such party to whom confidential information is disclosed is bound by an obligation of confidentiality. The Company acknowledges that certain of the Investors are in the business of venture capital
investing and therefore review the business plans and related proprietary information of many enterprises, including enterprises that may have products or services that compete directly or indirectly with those of the Company. Nothing in this
Agreement shall preclude or in any way restrict the Investors from investing or participating in any particular enterprise, regardless of whether such enterprise has products or services that compete with those of the Company. 

4. Rights to Future Stock Issuances. 

4.1 Right of First Offer. Subject to the terms and conditions of this Section 4.1 and applicable securities laws, if the
Company proposes to offer or sell any New Securities, the 

  
 19 

 
Company shall first offer such New Securities to each Series C Holder. A Series C Holder shall be entitled to apportion the right of first offer hereby granted to it among itself and its
Affiliates in such proportions as it deems appropriate. 
 The Company shall give notice (the “Offer Notice”) to each
Series C Holder, stating (i) its bona fide intention to offer such New Securities, (ii) the number of such New Securities to be offered, and (iii) the price and terms, if any, upon which it proposes to offer such New Securities. 

By notification to the Company within twenty (20) days after the Offer Notice is given, each Series C Holder may elect to purchase or
otherwise acquire, at the price and on the terms specified in the Offer Notice, up to that portion of such New Securities which equals the proportion that the Common Stock issued and held, or issuable upon conversion of the Preferred Stock and any
other Derivative Securities then held, by such Series C Holder bears to the total Common Stock of the Company issued and held, or issuable upon conversion of the Preferred Stock and any other Derivative Securities then held, by all the Series C
Holders. At the expiration of such twenty (20) day period, the Company shall promptly notify each Series C Holder that elects to purchase or acquire all the shares available to it (each, a “Fully Exercising Investor”) of any
other Series C Holder’s failure to do likewise. During the ten (10) day period commencing after the Company has given such notice, each Fully Exercising Investor may, by giving notice to the Company, elect to purchase or acquire, in
addition to the number of shares specified above, up to that portion of the New Securities for which Series C Holders were entitled to subscribe but that were not subscribed for by the Series C Holders which is equal to the proportion that the
Common Stock issued and held, or issuable upon conversion of Preferred Stock and any other Derivative Securities then held, by such Fully Exercising Investor bears to the Common Stock issued and held, or issuable upon conversion of the Preferred
Stock and any other Derivative Securities then held, by all Fully Exercising Investors who wish to purchase such unsubscribed shares. The closing of any sale pursuant to this Section 4.1 shall occur within sixty (60) days of the
date that the Offer Notice is given. 
 If all New Securities referred to in the Offer Notice are not elected to be purchased or acquired
as provided in Section 4.1, the Company may, during the ninety (90) day period following the expiration of the periods provided in Section 4.1, offer and sell the remaining unsubscribed portion of such New Securities to
any Person or Persons at a price not less than, and upon terms no more favorable to the offeree than, those specified in the Offer Notice. If the Company does not enter into an agreement for the sale of the New Securities within such period, or if
such agreement is not consummated within thirty (30) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the Series C Holders in
accordance with this Section 4.1. 
 The right of first offer in this Section 4.1 shall not be applicable to
(i) shares of Common Stock issued or deemed issued to employees or directors of, or consultants or advisors to, the Company or any of its subsidiaries pursuant to a plan, agreement, or arrangement

  
 20 

 
approved by the Board of Directors of the Company, including the Series C Directors (as defined in the Company’s Third Amended and Restated Certificate of Incorporation); (ii) shares of
Common Stock issued in the IPO; (iii) the issuance of securities pursuant to the conversion, exercise, or exchange of Derivative Securities outstanding on the date hereof; (iv) the issuance of securities in connection with a bona fide
business acquisition by the Company, whether by merger, consolidation, purchase of assets, exchange of stock, or otherwise, provided that such acquisitions are approved by the Board of Directors; provided, further, that at the time of
any such issuance, the aggregate of such issuance and similar prior issuances (excluding shares of Common Stock or Derivative Securities issued in connection with such acquisitions pursuant to agreements entered into on or prior to the date hereof)
do not exceed five percent (5%) of the then outstanding Common Stock of the Company (assuming full conversion and exercise of all Derivative Securities); (v) the issuance of Derivative Securities, in connection with any present or future
borrowing, line of credit, leasing, or similar financing arrangement approved by the Board of Directors of the Company, including the Series C Directors (as defined in the Company’s Third Amended and Restated Certificate of Incorporation);
provided that at the time of any such issuance, the aggregate of such issuance and similar prior issuances do not exceed five percent (5%) of the then outstanding Common Stock of the Company (assuming full conversion and exercise
of all Derivative Securities); (vi) the issuance of securities in connection with a strategic alliance, research or development arrangement or similar transaction, provided that such transaction or arrangement is approved by the Board of
Directors of the Company, including the Series C Directors (as defined in the Company’s Third Amended and Restated Certificate of Incorporation); provided, further, that at the time of any such issuance, the aggregate of such issuance
and similar prior issuances (excluding shares of Common Stock or Derivative Securities issued in connection with such arrangements or transactions pursuant to agreements entered into on or prior to the date hereof) do not exceed five percent
(5%) of the then outstanding Common Stock of the Company (assuming full conversion and exercise of all Derivative Securities); or (vii) securities of the Company that otherwise are excluded by the affirmative vote or consent of the holders
of at least 60% of the issued and outstanding shares of Series C Preferred Stock. 
 4.2 Termination. The covenants set forth in
Section 4.1 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO or (ii) upon a Deemed Liquidation Event, as such term is defined in the Company’s Third Amended and
Restated Certificate of Incorporation, whichever event occurs first. 

  
 21 

 5. Additional Covenants. 

5.1 Insurance. Within thirty (30) days following the execution of this Agreement, the Company shall obtain and continue to
maintain, (i) Directors and Officers Errors and Omissions insurance in an amount satisfactory to both the Board of Directors and the Series C Directors, provided that in no event shall the amount of coverage for each director be less than
$3 million, and (ii) a “key man” insurance policy for the Chief Executive Officer (or such person holding a comparable position) of the Company in a coverage amount satisfactory to both the Board of Directors and the Series C
Directors. 
 5.2 Employee Agreements. The Company will cause (i) each Person now or hereafter employed by it or by any
subsidiary (or engaged by the Company or any subsidiary as a consultant/independent contractor) with access to confidential information and/or trade secrets to enter into a nondisclosure and proprietary rights assignment agreement and (ii) each
Key Employee to enter into a one (1) year noncompetition and nonsolicitation agreement, substantially in the form approved by the Board of Directors. In addition, the Company shall not amend, modify, terminate, waive, or otherwise alter, in
whole or in part, any of the above-referenced agreements or any restricted stock agreement between the Company and any employee, without the consent of the Board of Directors. 

5.3 Option Plan. Unless otherwise approved by the Board of Directors, all future employees and consultants of the Company who purchase,
receive options to purchase, or receive awards of shares of the Company’s capital stock after the date hereof shall be required to execute restricted stock or option agreements, as applicable, providing for (i) vesting of shares over a
four (4) year period, with the first twenty-five percent (25%) of such shares vesting following twelve (12) months of continued employment or service, and the remaining shares vesting in equal monthly installments over the following
thirty-six (36) months, and (ii) a one hundred eighty (180) day lockup period in connection with the IPO. The Company shall retain a “right of first refusal” on employee transfers until the Company’s IPO and shall have
the right to repurchase unvested shares at cost upon termination of employment of a holder of restricted stock. As of the date hereof, the number of shares available for issuance under the Company’s 2006 Equity Incentive Plan equals 1,000,345.

 5.4 Qualified Small Business Stock. The Company shall use commercially reasonable efforts to cause the shares of Preferred Stock
issued pursuant to the Purchase Agreement, as well as any shares into which such shares are converted, within the meaning of section 1202(f) of the Internal Revenue Code (the “Code”), to constitute “qualified small business
stock” as defined in section 1202(c) of the Code; provided, however, that such requirement shall not be applicable if the Board of Directors of the Company determines, in its good-faith business judgment, that such qualification is
inconsistent with the best interests of the Company. The Company shall submit to its stockholders (including the Investors) and to the Internal Revenue Service any reports that may be required under section 1202(d)(1)(C) of the Code and the
regulations promulgated thereunder. In addition, within twenty (20) business days after any Investor’s written request therefor, the Company shall, at its option, either (i) deliver to

  
 22 

 
such Investor a written statement indicating whether (and what portion of) such Investor’s interest in the Company constitutes “qualified small business stock” as defined in
section 1202(c) of the Code or (ii) deliver to such Investor such factual information in the Company’s possession as is reasonably necessary to enable such Investor to determine whether (and what portion of) such Investor’s interest
in the Company constitutes “qualified small business stock” as defined in section 1202(c) of the Code. 
 5.5 Meetings of the
Board of Directors. Unless otherwise determined by the vote of a majority of the directors then in office, the Board of Directors shall meet at least bi-monthly in accordance with an agreed-upon schedule, and such meetings shall take place in
person at least four times each fiscal year. Quorum for any meeting of the Board of Directors shall be at least a majority of the directors, including at least one Series C Director. 

5.6 Successor Indemnification. If the Company or any of its successors or assignees (i) consolidates with or merges into any other
Person and is not the continuing or surviving corporation or entity of such consolidation or merger or (ii) transfers or conveys all or substantially all of its properties and assets to any Person, then, and in each such case, to the extent
necessary, proper provision shall be made so that the successors and assignees of the Company assume the obligations of the Company with respect to indemnification of members of the Board of Directors as in effect immediately before such
transaction, whether such obligations are contained in the Company’s Bylaws, its Third Amended and Restated Certificate of Incorporation, or elsewhere, as the case may be. 

5.7 Board Expenses and Compensation. The Company shall reimburse the directors and representatives of the Investors with board
observation rights pursuant hereto for all reasonable out-of-pocket travel expenses incurred (consistent with the Company’s travel policy) in connection with attending meetings of the Board of Directors. If the Company provides
compensation (whether cash, stock options or otherwise) to any of its non-employee directors for their services as a director of the Company, each other non-employee director shall be compensated identically. 

5.8 Matters Requiring Series C Director Approval. So long as the holders of Series C Preferred Stock are entitled to elect two Series C
Directors, the Company hereby covenants and agrees with each of the Investors that it shall not (nor shall it permit any subsidiary to), without approval of the Company’s Board of Directors, which approval must include the affirmative vote of
the Series C Directors: 
 (a) make any loan or advance to any Person, including, without limitation, any employee or director of the
Company or any subsidiary (unless wholly owned by the Company), except advances and similar expenditures in the ordinary course of business or under the terms of an employee stock or option plan approved by the Company’s Board of Directors;

  
 23 

 (b) institute, dispute or settle any legal mediation, arbitration or other proceeding if such
amount exceeds $500,000 or provides for any injunctive relief binding upon the Company; 
 (c) approve the annual audited financial
statements or make any material change in the established accounting policies used by the Company in the preparation of its financial statements, including any change to the date of the Company’s fiscal year-end; 

(d) hire, terminate, or change the compensation of the executive officers, including approving any option grants or stock awards to executive
officers; or 
 (e) change the signatories for the Company’s bank accounts. 

5.9 Right to Conduct Activities. The Company hereby agrees and acknowledges that each Investor (together with its affiliates) is a
professional investment fund, and as such invests in numerous portfolio companies, some of which may be deemed competitive with the Company’s business (as currently conducted or as currently proposed to be conducted). The Company hereby agrees
that, to the extent permitted under applicable law, no Investor shall be liable to the Company for any claim arising out of, or based upon, (i) the investment by such Investor in any entity competitive with the Company or (ii) actions
taken by any partner, officer or other representative of such Investor to assist any such competitive company, whether or not such action was taken as a member of the board of directors of such competitive company or otherwise, and whether or not
such action has a detrimental effect on the Company; provided, however, that the foregoing shall not relieve (x) any of the Investors from liability associated with the unauthorized disclosure of the Company’s confidential information
obtained pursuant to this Agreement, or (y) any director or officer of the Company from any liability associated with his or her fiduciary duties to the Company. 

5.10 FCPA. The Company represents that it shall not (and shall not permit any of its subsidiaries or affiliates or any of its or their
respective directors, officers, managers, employees, representatives or agents, acting on behalf of the Company, to) promise, authorize or make any payment to, or otherwise contribute any item of value to, directly or indirectly, to any third party,
including any Non-U.S. Official (as (as such term is defined in the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”)), in each case, in violation of the FCPA, the U.K. Bribery Act, or any other applicable
anti-bribery or anti-corruption law. The Company further represents that it shall (and shall cause each of its subsidiaries and affiliates to) cease all of its or their respective activities, as well as remediate any actions taken by the Company,
its subsidiaries or affiliates, or any of their respective directors, officers, managers, employees, representatives or agents (acting on behalf of the Company) in violation of the FCPA, the U.K. Bribery Act, or any other applicable anti-bribery or
anti-corruption law. The Company further represents that it shall (and shall cause each of its subsidiaries and affiliates to) maintain systems of internal controls (including, but not limited to, accounting systems, purchasing systems and billing
systems) to ensure compliance with the FCPA, the U.K. Bribery Act, or any other applicable anti-bribery or anti-corruption law. Upon request, the Company agrees to provide responsive information and/or certifications concerning its compliance with

  
 24 

 
applicable anti-corruption laws. The Company shall promptly notify each Investor if the Company becomes aware of any allegation, voluntary disclosure, investigation, prosecution or other
enforcement action involving the Company or any of its subsidiaries or affiliates related to the FCPA or any other anti-corruption law. The Company shall, and shall cause any direct or indirect subsidiary or entity controlled by it, whether now in
existence or formed in the future to, comply with the FCPA. The Company shall use its best efforts to cause any direct or indirect subsidiary, whether now in existence or formed in the future, to comply in all material respects with all applicable
laws. 
 5.11 Termination of Covenants. The covenants set forth in this Section 5, except for Section 5.6,
shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, or (ii) upon a Deemed Liquidation Event, as such term is defined in the Company’s Third Amended and Restated Certificate of
Incorporation, whichever event occurs first. 
 6. Miscellaneous. 

6.1 Successors and Assigns. Each Investor hereby agrees that it shall not, and may not, assign any of its rights and obligations
hereunder, unless such rights and obligations are assigned by such Investor to (i) any Person to which Registrable Securities are transferred by such Investor pursuant to Section 2.13 or (ii) with respect to the right of first
offer set forth in Section 4.1, to any other Series C Holder, and, in each case, such assignee shall be deemed an “Investor” for purposes of this Agreement; provided that such assignment of rights shall be contingent
upon the assignee providing a written instrument to the Company notifying the Company of such assignment and agreeing in writing to be bound by the terms of this Agreement. The terms and conditions of this Agreement inure to the benefit of and are
binding upon the respective successors and permitted assignees of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted assignees
any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided herein. 
 6.2
Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware, without regard to its principles of conflicts of laws. 

6.3 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. This Agreement may also be executed and delivered by facsimile signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. 
 6.4 Titles and Subtitles. The titles and subtitles used in this Agreement are for
convenience only and are not to be considered in construing or interpreting this Agreement. 

  
 25 

 6.5 Notices. All notices, requests, and other communications given or made pursuant to
this Agreement shall be in writing and shall be deemed effectively given and received: (a) upon personal delivery to the party to be notified; (b) when sent by confirmed electronic mail if sent during normal business hours of the
recipient, and if not so confirmed, then on the next business day; (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (d) one (1) day after deposit with a
nationally recognized overnight courier, specifying next-day delivery, with written verification of receipt. All communications shall be sent to the respective parties at their email address, or address as set forth on the signature page hereto, or
to such email address, or address as subsequently modified by written notice given in accordance with this Section 6.5. If notice is given to the Company, a copy shall also be sent to Faegre Baker Daniels LLP, 600 E. 96th Street, Suite 600, Indianapolis, IN 46240-3789, Attention: Daniel Boeglin. If notice is given to the Investors, copies shall also be given to (a) Smith, Anderson, Blount, Dorsett,
Mitchell & Jernigan, LLP, Post Office Box 2611, Raleigh, North Carolina 27602-2611, Attention: Miranda Miller, (b) Reed Smith LLP, 136 Main St., Suite 250, Princeton, NJ 08540, Attention: Diane M. Frenier and (c) Gowling
Lafleur Henderson LLP, 1 First Canadian Place, 100 King Street West, Suite 1600, Toronto, Ontario M5X 1G5 Canada, Attention: Vanessa Grant. 

6.6 Amendments and Waivers. 

(a) Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a
particular instance, and either retroactively or prospectively) only with the written consent of the Company and the holders of at least 60% of the Series C Preferred Stock then outstanding; provided that the Company may in its sole discretion waive
compliance with Section 2.14(c) (and the Company’s failure to object promptly in writing to a proposed assignment allegedly in violation of Section 2.14(c) shall be deemed to be a waiver); provided further that the
provisions of Section 3.3 shall not be waived or amended without the consent of Pappas, Domain, Care, TVM, Novo, Auriga and/or Triathlon, as applicable, to terminate or otherwise adversely affect any such party’s observation rights. 

(b) Notwithstanding the foregoing, 

(i) this Agreement may not be amended or terminated and the observance of any term hereof may not be waived with respect to any Series A
Investor, Series B Investor or Series C Investor without the written consent of such Series A Investor, Series B Investor or Series C Investor, unless such amendment, termination, or waiver applies to all Series A Investors, Series B Investors
or Series C Investors, respectively, in the same fashion (it being agreed that a waiver of the provisions of Section 4 with respect to a particular transaction shall be deemed to apply to all Investors in the same fashion if such waiver does
so by its terms, notwithstanding the fact that certain Investors may nonetheless, by agreement with the Company, purchase securities in such transaction); 

  
 26 

 (ii) Section 4, Section 5.7 and this Section 6.6 may not be
amended or terminated, and the observance of any term thereof may not be waived, without the written consent of the holders of a majority of the shares of Common Stock issued or issuable upon conversion of the shares of Series A Preferred Stock held
by the Series A Investors and the shares of Series B Preferred Stock held by the Series B Investors (voting as a single class and on an as-converted basis), if such amendment, modification or waiver materially adversely affects the rights or
obligations of the Series A Investors or Series B Investors; and 
 (iii) Sections 2.9(b) and 2.9(e), and this
Section 6.6 as it relates to the provisions of Sections 2.9(b) and 2.9(e), may not be amended or terminated and the observance of any term thereof may not be waived with respect to any Major Investor, without the written
consent of such Major Investor. 
 (c) The Company shall give prompt notice of any amendment or termination hereof or waiver hereunder to
any party hereto that did not consent in writing to such amendment, termination, or waiver. 
 (d) Any amendment, termination, or waiver
effected in accordance with this Section 6.6 shall be binding on all parties hereto, regardless of whether any such party has consented thereto. 

(e) No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or
construed as a further or continuing waiver of any such term, condition, or provision. 
 6.7 Severability. In case any one or more
of the provisions contained in this Agreement is for any reason held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement, and such invalid,
illegal, or unenforceable provision shall be reformed and construed so that it will be valid, legal, and enforceable to the maximum extent permitted by law. 

6.8 Aggregation of Stock. All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together for the
purpose of determining the availability of any rights under this Agreement. 
 6.9 Entire Agreement. This Agreement (including any
Schedules and Exhibits hereto) constitutes the full and entire understanding and agreement between the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between
the parties is expressly canceled. Upon the effectiveness of this Agreement, the Prior Agreement shall be deemed amended and restated and superseded and replaced in its entirety by this Agreement, and shall be of no further force or effect. 

  
 27 

 6.10 Delays or Omissions. No delay or omission to exercise any right, power, or remedy
accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of such nonbreaching or nondefaulting party, nor shall it be construed to be a waiver of or
acquiescence to any such breach or default, or to any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. All
remedies, whether under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 
 6.11
Acknowledgement. The Company acknowledges that each Investor is in the business of venture capital investing and therefore reviews the business plans and related proprietary information of many enterprises, including enterprises which may
have products or services which compete directly or indirectly with those of the Company. Nothing in this Agreement shall preclude or in any way restrict an Investor from investing or participating in any particular enterprise whether or not such
enterprise has products or services which compete with those of the Company. 
 [Remainder of Page Intentionally Left Blank] 

  
 28 

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

  

			
	“COMPANY”
	
	COLUCID PHARMACEUTICALS, INC.
		
	By:		 /s/ Thomas P. Mathers

			Thomas P. Mathers
			Chief Executive Officer

 
			
		
	Address:		P.O. Box 14401
			Durham, NC 27709

  
 [Signature Page to
Second Amended and Restated Investors’ Rights Agreement] 

 
			
	“INVESTORS”
	
	CARE CAPITAL INVESTMENTS III, LP
	By:		Care Capital III LLC, its General Partner
		
	By:		 /s/ Richard J. Markham

	Name:		 Richard J. Markham

	Title:		 Partner

 
			
		
	Address:		47 Hulfish Street, Suite 310
			Princeton, NJ 08542

 
			
	Email:
	Facsimile:
	
	 CARE CAPITAL OFFSHORE INVESTMENTS III, LP

	By:		Care Capital III LLC, its General Partner
		
	By:		 /s/ Richard J. Markham

	Name:		 Richard J. Markham

	Title:		 Partner

 
			
		
	Address:		47 Hulfish Street, Suite 310
			Princeton, NJ 08542

 
			
	Email:
	Facsimile:
	
	 A. M. PAPPAS LIFE SCIENCE VENTURES III, L.P.

	By:		AMP&A Management III, LLC
		
	By:		 /s/ Ford S. Worthy

	Name:		 Ford S. Worthy

	Title:		 Partner & CFO

 

			
		
	Address:		c/o Mr. Ford S. Worthy
			Pappas Ventures
			2520 Meridian Parkway, Suite 400
			Durham, NC 27713

 
			
	Email:		
	Facsimile:		

  
 [Signature Page to
Second Amended and Restated Investors’ Rights Agreement] 

 
			
	PV III CEO FUND, L.P.
	By:		AMP&A Management III, LLC
		
	By:		 /s/ Ford S. Worthy

	Name:		 Ford S. Worthy

	Title:		 Partner & CFO

 

			
		
	Address:		c/o Mr. Ford S. Worthy
			Pappas Ventures
			2520 Meridian Parkway, Suite 400
			Durham, NC 27713

 
			
	Email:		
	Facsimile:		
	
	DOMAIN PARTNERS VI, L.P.
	By:		One Palmer Square Associates VI, L.L.C.
		
	By:		 /s/ Kathleen K. Schoemaker

	Name:		 Kathleen K. Schoemaker

	Title:		 Managing Member

 
			
		
	Address:		One Palmer Square, Suite 515
			Princeton, NJ 08542

 
			
	Email:		schoemaker@domainvc.com
	Facsimile:		609-683-4581
	
	DP VI ASSOCIATES, L.P.
	By:		One Palmer Square Associates VI, L.L.C.
		
	By:		 /s/ Kathleen K. Schoemaker

	Name:		 Kathleen K. Schoemaker

	Title:		 Managing Member

 
			
		
	Address:		One Palmer Square, Suite 515
			Princeton, NJ 08542

 
			
	Email:		schoemaker@domainvc.com
	Facsimile:		609-683-4581

  
 [Signature Page to
Second Amended and Restated Investors’ Rights Agreement] 

 
			
	 TRIATHLON MEDICAL VENTURES FUND, L.P.

	By:		Triathlon Medical Ventures, LLC, its General Partner
		
	By:		 /s/ John M. Rice

	Name:		 John M. Rice

	Title:		 Managing Partner

 
			
		
	Address:		300 E-Business Way
			Cincinnati, OH 45241

 
			
	Email:
	Facsimile:
	
	PEARL STREET VENTURE FUND, L.P.
	By:		Pearl Street Capital Management, LLC, its General Partner
		
	By:		 /s/ John H. Barnard

	Name:		 John H. Barnard

	Title:		 Managing Director

 

			
		
	Address:		20 North Meridian Street, Suite 805
			Indianapolis, IN 46204

 
			
	Email:		
	Facsimile:		

  
 [Signature Page to
Second Amended and Restated Investors’ Rights Agreement] 

 
			
	 TVM LIFE SCIENCE VENTURES VII L.P. , by its general partner, TVM Life Science Ventures VII (GP)
LIMITED

		
	By:		 /s/ Alan Ross

	Name:		 Alan Ross

	Title:		 Director

 
			
		
	Address:		2 Place Alexis Nihon, Suite 902
			3500 Blvd De Maisonneuve West
			Westmount QC H3Z 3C1

 
			
	Email:		Marengere@tvm-capital.com
	Facsimile:		514-931-7382

  
 [Signature Page to
Second Amended and Restated Investors’ Rights Agreement] 

 
			
	NOVO A/S
		
	By:		 /s/ M. W. Edwards

	Name:		 Dr. M. W. Edwards

	Title:		 Senior Partner

 
			
		
	Address:		Tuborg Havnevej 19
			DK-2900 Hellerup
			Denmark

 
			
	Email:		hlud@novo.dk
	Facsimile:		

  
 [Signature Page to
Second Amended and Restated Investors’ Rights Agreement] 

 
			
	SICAV CLUB D’INVERSORS MONTSERRAT
		
	By:		 /s/ Iñigo Resusta; /s/ Isabel Martin

	Name:		 Iñigo Resusta; Isabel Martin

	Title:		 CEO; Head of SICAV

			
		
	Address:		Carrer de lÁigüeta,3
			AD500 Andorra la Vella; Andorra

 
			
	Email:		Isabel.martin@morabanc.ad; raj.mehra@aurigacapitalmanagement.com
	Facsimile:		
	
	 AURIGA INVESTORS MONTSERRAT GLOBAL FUND

		
	By:		 /s/ Daniel Arribas

	Name:		 Mr. Daniel Arribas

	Title:		 Conducting Officer

			
		
	Address:		28-32 Place de la Gare
			L-1616 Luxembourg

 
			
	Email:		raj.mehra@aurigacapitalmanagement.com
	Facsimile:		
	
	AURIGA GLOBAL INVESTORS SV, SA
		
	By:		 /s/ Iñigo Resusta

	Name:		 Iñigo Resusta

	Title:		 President

 
			
		
	Address:		C/Cuesta del Sagrado corazón 6-8
			28043-Madrid
			Spain

 
			
	Email:		raj.mehra@aurigacapitalmanagement.com
	Facsimile:		

  
 [Signature Page to
Second Amended and Restated Investors’ Rights Agreement] 

 SCHEDULE A 

Series A Investors 
 Name and
Address 
 A. M. Pappas Life Science Ventures III, L.P. 

c/o Mr. Ford S. Worthy 
 Pappas Ventures 

2520 Meridian Parkway, Suite 400 
 Durham, NC 27713 

PV III CEO Fund, L.P. 
 c/o Mr. Ford S. Worthy 

Pappas Ventures 
 2520 Meridian Parkway, Suite 400 

Durham, NC 27713 
 Domain Partners VI, L.P. 

One Palmer Square, Suite 515 
 Princeton, NJ 08542 

DP VI Associates, L.P. 
 One Palmer Square, Suite 515 

Princeton, NJ 08542 
 Triathlon Medical Ventures Fund, L.P. 

300 E-Business Way, Suite 200 
 Cincinnati, OH 45241 

Pearl Street Venture Fund, L.P. 
 20 North Meridian Street, Suite
805 
 Indianapolis, IN 46204 

  
 A-1 

 SCHEDULE B 

Series B Investors 
 Name and
Address 
 Care Capital Investments III, LP 
 47 Hulfish
Street, Suite 310 
 Princeton, NJ 08542 
 Care Capital
Offshore Investments III, LP 
 47 Hulfish Street, Suite 310 

Princeton, NJ 08542 
 A. M. Pappas Life Science Ventures III,
L.P. 
 c/o Mr. Ford S. Worthy 
 Pappas Ventures 

2520 Meridian Parkway, Suite 400 
 Durham, NC 27713 

PV III CEO Fund, L.P. 
 c/o Mr. Ford S. Worthy 

Pappas Ventures 
 2520 Meridian Parkway, Suite 400 

Durham, NC 27713 
 Domain Partners VI, L.P. 

One Palmer Square, Suite 515 
 Princeton, NJ 08542 

DP VI Associates, L.P. 
 One Palmer Square, Suite 515 

Princeton, NJ 08542 
 Triathlon Medical Ventures Fund, L.P. 

300 E-Business Way, Suite 200 
 Cincinnati, OH 45241 

Pearl Street Venture Fund, L.P. 
 20 North Meridian Street, Suite
805 
 Indianapolis, IN 46204 

  
 B-1 

 SCHEDULE C 

Series C Investors 
 Name and
Address 
 TVM Life Science Ventures VII L.P. 
 2 Place
Alexis Nihon, Suite 902 
 3500 Blvd De Maisonneuve West 

Westmount QC H3Z 3C1 
 Attention: Dr. Luc Marengere 

Novo A/S 
 Tuborg Havnevej 19 

DK-2900 Hellerup 
 Denmark 

Attention: Heather Ludvigsen 
 SICAV Club d’inversors
Montserrat 
 Carrer de lÁigüeta,3 
 AD500 Andorra
la Vella 
 Andorra 
 Attention: Dr. Raj Mehra 

Auriga Investors Montserrat Global Fund 
 28-32 Place de la Gare

 L-1616 Luxembourg 
 Attention: Dr. Raj Mehra 

Auriga Global Investors SV, SA 
 C/Cuesta del Sagrado
corazón 6-8 
 28043- Madrid 
 Spain 

Attention: Dr. Raj Mehra 
 Care Capital Investments III, LP

 47 Hulfish Street, Suite 310 
 Princeton, NJ 08542 

Care Capital Offshore Investments III, LP 
 47 Hulfish Street,
Suite 310 
 Princeton, NJ 08542 

  
 C-1 

 A. M. Pappas Life Science Ventures III, L.P. 

c/o Mr. Ford S. Worthy 
 Pappas Ventures 

2520 Meridian Parkway, Suite 400 
 Durham, NC 27713 

PV III CEO Fund, L.P. 
 c/o Mr. Ford S. Worthy 

Pappas Ventures 
 2520 Meridian Parkway, Suite 400 

Durham, NC 27713 
 Domain Partners VI, L.P. 

One Palmer Square, Suite 515 
 Princeton, NJ 08542 

Triathlon Medical Ventures Fund, L.P. 
 300 E-Business Way, Suite
200 
 Cincinnati, OH 45241 

  
 C-2

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