Document:

EX-10.5

 Exhibit 10.5 

INARI MEDICAL, INC. 

2011 EQUITY INCENTIVE PLAN 

NOTICE OF RESTRICTED STOCK UNIT AWARD 

You (“Recipient”) have been granted Restricted Stock Units (“RSUs”) representing shares of the Common Stock of Inari
Medical, Inc. (the “Company”) on the following terms: 
  

			
	Name of Recipient:	  	[Name]
		
	Maximum Number of RSUs:	  	[Maximum Number of RSUs]
		
	Date of Grant:	  	«DateGrant»
		
	Vesting Commencement Date:	  	[Vesting Commencement Date]
		
	Earned Number of RSUs:	  	Only earned RSUs will vest and be settled through the issuance of shares of Company Common Stock. The actual number of RSUs that are earned, following satisfaction of all applicable Vesting and other conditions as set forth below,
will be determined based upon the “Value Metrics” attached as Appendix A to this Notice of Restricted Stock Award and in all events may not exceed the Maximum Number of RSUs set forth above.
		
	Vesting:	  	You will receive a benefit with respect to a RSU only if it vests. Two vesting requirements must be satisfied on or before the Service Date specified above in order for a RSU to vest: (i) a requirement that you provide
Continuous Service over the period of time set forth in “Service-Based Requirement” below and (ii) a requirement that the Company complete either an IPO or a Sale Event. Your RSUs will not vest (in whole or in part) if only one (or if
neither) of such requirements is satisfied on or before the Service Date (as defined in the next paragraph below).
		
	Service-Based Requirement:	  	Provided that the Company has first undertaken an IPO, the Service-Based Requirement applicable to the RSUs will be satisfied if you remain in Continuous Service from the Grant Date through the fourth (4th) anniversary of the Vesting Commencement Date (such date is referred to herein as the “Regular Service 

			
		  	Date”); provided however that the Service-Based Requirement will be deemed to be satisfied prior to the fourth (4th) anniversary of the Vesting Commencement
Date upon the following circumstances: (1) if, following an IPO, your Service is terminated without Cause by the Company or terminates as a result of your death, provided that in such case, the Earned Number of RSUs will be determined based
upon the modified Value Metrics set forth on Appendix A; or (2) without regard to whether or not the Company has yet completed an IPO, if the Company completes a Sale Event on or prior to the fourth anniversary of the Vesting Commencement Date.
The date on which the Service-Based Requirement is satisfied under clause (1) or (2) of the preceding sentence is referred to as the “Early Service Date,” which, together with the Regular Service Date, is referred to as
the “Service Date.”
		
	Settlement:	  	Settlement of RSUs refers to the issuance of Shares once the award is vested. If a RSU vests as a result of satisfaction of all applicable vesting requirements as described above, the Company will deliver the Earned Number of RSUs
at the time of settlement specified in Section 4 of the Restricted Stock Unit Agreement.

 By signing below or otherwise accepting this award in a manner acceptable to the Company, you and the Company agree that these
RSUs are granted under and governed by the terms and conditions of this Notice of Restricted Stock Unit Award, the 2011 Equity Incentive Plan (the “Plan”) and the Restricted Stock Unit Agreement. These latter two documents are
attached to, and made a part of, this Notice of Restricted Stock Unit Award. Capitalized terms not otherwise defined herein or in the Restricted Stock Unit Agreement shall have the meaning set forth in the Plan. You hereby acknowledge that the
vesting of the RSUs pursuant to this Notice of Restricted Stock Unit Award is conditioned on the satisfaction of the Service-Based Requirement and the occurrence, within the applicable time frame and before expiration of the RSUs, of an IPO or Sale
Event. You shall have no right with respect to the RSUs to the extent an IPO or Sale Event does not occur on or before, or (except as otherwise stated above) to the extent your Continuous Service terminates prior to, the Service Date.
Section 10 of the Restricted Stock Unit Agreement also includes important acknowledgements. 

							
	RECIPIENT:	 		 	INARI MEDICAL, INC.
			
	 	 	                    	 	By:                                   
                                         
    
			
	Email Address:	 		 	Title:                                   
                                         
 
		
	                                    
                                         
                               	 	
		
	Address for Mailing Stock Certificate (only applicable if the Company has certificated shares):	 	
		
	                                    
                                         
                               	 	

 APPENDIX A 

VALUE METRICS 
 The actual Earned Number of RSUs
that will be issued in settlement of your vested RSUs will be determined based upon the Value of a share of Common Stock on the Service Date, where Value is determined as described below. 

 

			
	If the Value is	  	Then the Earned Number of RSUs will be:
	Less than $6.70	  	[Number of Shares]
	$6.70	  	[Number of Shares]
	$8.38	  	[Number of Shares]
	$15.08	  	[Number of Shares]

 Provided that: 
 •
    In the event that any of the transactions or events specified in Section 13(a) of the Plan occur, proportionate adjustment of the Values specified in the chart above shall be made in order to prevent diminution or
enlargement of the benefits intended to be conveyed by this award; 
 •    Straight-line interpolation shall be used in connection
with share Values that fall between the Values specified in the chart above; 
 •    Any RSUs not deemed to be part of the Earned
Number of RSUs as a result of the applicable percentage specified in the chart above being less than 100% shall expire as of the date on which the Earned Number of RSUs are settled, and you will receive no value or benefit with respect to such
expired RSUs; and 
 •    Following an IPO and prior to the Regular Service Date, if there occurs an Early Service Date, the Value
will be determined as of the Early Service Date (rather than on the Regular Service Date), the Earned Number of RSUs to which you will become entitled will be equal to 75% of the number calculated under the above chart, and the RSUs will be settled
as specified in Section 4 of the Restricted Stock Unit Agreement. 
 “Value” for purposes of this Appendix A shall be determined as
follows: 
  

	 	(a)	 If the Service Date corresponds to the effective date of a Sale Event, the Value of a share of Common Stock
shall be equal to the per-share value of Common Stock as determined pursuant to the definitive transaction agreement governing the Sale Event or, if no such agreement applies, then as determined in good faith
by the Board based upon the value conveyed to the Company’s stockholders as a result of the transaction; and 

	 	(b)	 Whether the Service Date corresponds to a Regular Service Date or to an Early Service Date not related to the
date of a Sale Event (either of which dates must occur after an IPO), the Value shall be determined based upon the average closing price of the Company’s Common Stock on the primary U.S. national exchange (e.g., NASDAQ) on which it is traded
for the three-month period ending on the day immediately preceding the applicable Service Date (or if such date is not a trading day, then the next earlier preceding trading day), as reported in such publication or quotation service as is deemed
authoritative by the Board. For clarity, if the stock has not traded during the entire three-month period referred to in the preceding sentence, then the Board shall determine in good faith the appropriate methodology for calculating the average
trading price based upon the period for which closing prices are available. 

 THE RSUS GRANTED PURSUANT TO THE NOTICE OF RESTRICTED STOCK UNIT AWARD AND THIS AGREEMENT AND THE SHARES
ISSUABLE THEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE
COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED. 
 INARI MEDICAL, INC.

 2011 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK UNIT AGREEMENT 

SECTION 1. GRANT OF RESTRICTED STOCK UNITS. 

(a) Grant. On the terms and conditions set forth in the Notice of Restricted Stock Unit Award and this Agreement, the Company grants to
you on the Date of Grant the number of RSUs set forth in the Notice of Restricted Stock Unit Award. Each RSU represents the right to receive one Share on the terms and conditions set forth in this Agreement. 

(b) Consideration. No payment is required for the RSUs that have been granted to you. 

(c) Nature of Units; No Rights As a Stockholder. Your RSUs are mere bookkeeping entries and represent only the Company’s unfunded
and unsecured promise to issue Shares on a future date under specified conditions. As a holder of RSUs, you have no rights other than the rights of a general creditor of the Company. Your RSUs carry neither voting rights nor rights to cash
dividends. You have no rights as a stockholder of the Company unless and until your RSUs are settled pursuant to Section 4. 
 (d)
Stock Plan and Defined Terms. Your RSUs are granted pursuant to the Plan, a copy of which you acknowledge having received. The provisions of the Plan are incorporated into this Agreement by this reference. Certain capitalized terms are
defined in Section 11 of this Agreement. Capitalized terms not otherwise defined herein or in the Notice of Restricted Stock Unit Award shall have the meanings set forth in the Plan. 

SECTION 2. VESTING. 
 (a)
Generally. The RSUs vest in accordance with the vesting schedule set forth in the Notice of Restricted Stock Unit Award. You will receive a benefit with respect to a RSU only if the Service-Based Requirement is satisfied and the
Company has completed either an IPO or a Sale Event on or before the Service Date. Your RSUs will not vest (in whole or in part) if only one (or if neither) of such requirements is satisfied on or before the Service Date. 

 (b) Termination of Service. If your Service terminates for any reason, all RSUs as to
which the Service-Based Requirement has not been satisfied as of your termination date shall automatically terminate and be cancelled. You will not satisfy the Service-Based Requirement for any additional RSUs after your Service has terminated for
any reason. 
 (c) Expiration of RSUs. If an IPO or Sale Event does not occur on or before the applicable Service Date as set forth
in the Notice of Restricted Stock Unit Award, all RSUs (regardless of whether or not, or the extent to which, the Service-Based Requirement had been satisfied as to such RSUs) shall automatically terminate and be cancelled upon such date. Similarly
if your Continuous Service terminates prior to the occurrence of a Service Date, all RSUs shall automatically terminate and be cancelled upon the date of such termination (regardless of whether an IPO has occurred as of such date of termination).
For clarity, all RSUs that remain unvested on the fourth anniversary of the Vesting Commencement Date shall terminate and expire. Upon a termination of one or more RSUs pursuant to this Section 2, you will have no further right with respect to
such RSUs or the Shares subject to such RSUs. 
 (d) Part-Time Employment and Leaves of Absence. If you commence working on a
part-time basis, then the Company may adjust the Service-Based Requirement set forth in the Notice of Restricted Stock Unit Award. If you go on a leave of absence, then, to the extent permitted by applicable law, the Company may adjust or suspend
the Service-Based Requirement set forth in the Notice of Restricted Stock Unit Award. Except as provided in the preceding sentence, Service shall be deemed to continue for any purpose under this Agreement while you are on a bona fide leave of
absence approved by the Company in writing. Service shall be deemed to terminate when such leave ends, unless you immediately return to active work when such leave ends. 

SECTION 3. RESTRICTIONS APPLICABLE TO RSUS. 

Except as otherwise provided in or pursuant to this Agreement or the Plan, these RSUs and the rights and privileges conferred hereby shall not
be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of by you prior to the settlement of the RSUs. However, you may designate a third party who, in the event of your death, shall thereafter be entitled to receive any
distribution of Shares to which you were entitled at the time of your death pursuant to this Agreement by delivering a written beneficiary designation to the Company’s headquarters (in the form attached hereto as Exhibit A or such other
form or format as the Company may from time to time prescribe) before your death. If you deliver no such beneficiary designation or if your designated beneficiaries do not survive you, your estate will receive payments in respect of any vested RSUs.

 SECTION 4. SETTLEMENT OF RSUS. 

(a) Settlement Date. Upon a Service Date with respect to a particular RSU, the Company will deliver one Share for that RSU.
Settlement shall occur on or following the Service Date, but not later than the Short Term Deferral End Date. Notwithstanding the above, if the Earned Number of RSUs would otherwise settle within the restricted period specified in
Section 7(c) below, then settlement of such RSUs shall be delayed so that they will settle no later than the earlier to occur of (i) the 185th day following the IPO Date or
(ii) the Short Term Deferral End Date. 

  
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 (b) Form of Delivery. The form of any delivery of Shares (e.g., a stock certificate
or electronic entry evidencing such shares) shall be determined by the Company. 
 (c) Legality of Issuance. No Shares shall be
issued to you upon settlement of these RSUs unless and until the Company has determined that (i) you and the Company have taken any actions required to register the Shares under the Securities Act or to perfect an exemption from the
registration requirements thereof; (ii) any applicable listing requirement of any stock exchange or other securities market on which Stock is listed has been satisfied; and (iii) any other applicable provision of federal, State or foreign
law has been satisfied. The Company shall have no liability to issue Shares in respect of the RSUs unless it is able to do so in compliance with applicable law. 

SECTION 5. TAXES. 
 (a) Withholding
Taxes. No consideration will be paid to you in respect of this award unless you have made arrangements satisfactory to the Company and/or the Parent or Subsidiary employing you (your “Employer”) for the payment of all applicable
federal, State, local and foreign income and employment withholding taxes which arise in connection with the vesting and/or settlement of these RSUs (the “Withholding Taxes”). To the extent that you fail to make such arrangements
with respect to these RSUs, then you will permanently forfeit such RSUs. At the discretion of the Company, these arrangements may include (i) withholding from other compensation or amounts that are owed to you by your Employer,
(ii) payment in cash, (iii) if the Stock is publicly traded, payment from the proceeds of the sale of shares through a Company-approved broker, (iv) withholding a number of Shares that otherwise would be issued to you when the RSUs
are settled, or (v) any other method permitted by the Company. If the Withholding Taxes are satisfied pursuant to clause (iv), you will be deemed to have been issued the full number of Shares subject to the RSUs and the Fair Market Value of the
withheld Shares, determined as of the date when taxes otherwise would have been withheld in cash, will be applied to the Withholding Taxes and such amount will be remitted to appropriate tax authorities by the Company or your Employer. The Company
will not withhold fractional shares pursuant to clause (iv), so if the Withholding Taxes are satisfied pursuant to clause (iv), you hereby authorize the Company or your Employer to withhold the amount of any remaining Withholding Taxes from your
wages or other cash compensation. You acknowledge that the responsibility for all Withholding Taxes is yours and may exceed the amount actually withheld by the Company or your Employer. 

(b) Section 409A. The settlement of these RSUs is intended to be exempt from the application of Code Section 409A pursuant to the
“short-term deferral exemption” in Treasury Regulation 1.409A-1(b)(4) and shall be administered and interpreted in a manner that complies with such exemption. To the extent that any provision of this
Agreement is ambiguous as to its exemption from Code Section 409A, the provision shall be read in such a manner so that all payments hereunder are exempt from Code Section 409A. Notwithstanding the foregoing, if this award of RSUs is
interpreted as not being exempt from Code Section 409A, it shall be interpreted to comply with the requirements of Code Section 409A so that this award is not 

  
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subject to additional tax or interest under Code Section 409A. In this regard, to the extent necessary to comply with or qualify for an exemption from Code Section 409A, any reference
to “termination of employment” or similar terms will mean your “separation from service” within the meaning of Code Section 409A(2)(A)(i) (a “Separation”). In addition, if this award is payable upon your
Separation and you are a “specified employee” of the Company or any affiliate thereof within the meaning of Code Section 409A(a)(2)(B)(i) on the day of your Separation, then no such payment shall be made prior to the date that is the
earlier of (i) six months and one day after your Separation, or (ii) your death, but only to the extent such delay is necessary so that this award is not subject to additional tax or interest under Code Section 409A. Each installment
of your RSUs that vests is intended to constitute a separate payment for purposes of Code Section 409A. 
 SECTION 6. RIGHT OF FIRST REFUSAL.

 (a) Right of First Refusal. In the event that you propose to sell, pledge or otherwise transfer to a third party any Shares
acquired under this Agreement, or any interest in such Shares, the Company shall have the Right of First Refusal with respect to all (and not less than all) of such Shares. If you desire to transfer Shares acquired under this Agreement, you must
give a written Transfer Notice to the Company describing fully the proposed transfer, including the number of Shares proposed to be transferred, the proposed transfer price, the name and address of the proposed Transferee and proof satisfactory to
the Company that the proposed sale or transfer will not violate any applicable federal, State or foreign securities laws. The Transfer Notice shall be signed both by you and by the proposed Transferee and must constitute a binding commitment of both
parties to the transfer of the Shares. The Company shall have the right to purchase all, and not less than all, of the Shares on the terms of the proposal described in the Transfer Notice (subject, however, to any change in such terms permitted
under Section 6(b) below) by delivery of a notice of exercise of the Right of First Refusal within 30 days after the date when the Transfer Notice was received by the Company. 

(b) Transfer of Shares. If the Company fails to exercise its Right of First Refusal within 30 days after the date when it received
the Transfer Notice, you may, not later than 90 days following receipt of the Transfer Notice by the Company, conclude a transfer of the Shares subject to the Transfer Notice on the terms and conditions no less favorable to you than those
described in the Transfer Notice, provided that any such sale is made in compliance with applicable federal, State and foreign securities laws and not in violation of any other contractual restrictions to which you are bound. Any proposed transfer
on terms and conditions less favorable than those described in the Transfer Notice, as well as any subsequent proposed transfer by you, shall again be subject to the Right of First Refusal and shall require compliance with the procedure described in
Section 6(a) above. If the Company exercises its Right of First Refusal, the parties shall consummate the sale of the Shares on the terms set forth in the Transfer Notice within 60 days after the date when the Company received the Transfer
Notice (or within such longer period as may have been specified in the Transfer Notice); provided, however, that in the event the Transfer Notice provided that payment for the Shares was to be made in a form other than cash or cash equivalents paid
at the time of transfer, the Company shall have the option of paying for the Shares with cash or cash equivalents equal to the present value of the consideration described in the Transfer Notice. 

  
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 (c) Additional or Exchanged Securities and Property. In the event of a merger or
consolidation of the Company, a sale of all or substantially all of the Company’s stock or assets, any other corporate reorganization, a stock split, the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a
form other than stock, a spin-off, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities, any securities or other property
(including cash or cash equivalents) that are by reason of such transaction exchanged for, or distributed with respect to, any Shares subject to this Section 6 shall immediately be subject to the Right of First Refusal. Appropriate adjustments
to reflect the exchange or distribution of such securities or property shall be made to the number and/or class of the Shares subject to this Section 6. 

(d) Termination of Right of First Refusal. Any other provision of this Section 6 notwithstanding, in the event that the Stock is
readily tradable on an established securities market when you desire to transfer Shares, the Company shall have no Right of First Refusal, and you shall have no obligation to comply with the procedures prescribed by Sections 6(a) and 6(b)
above. 
 (e) Permitted Transfers. This Section 6 shall not apply to (i) a transfer by beneficiary designation, will or
intestate succession or (ii) a transfer to one or more members of your Immediate Family or to a trust or other entity established by you solely for the benefit of you and/or one or more members of your Immediate Family, provided in either case
that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement. If you transfer any Shares acquired under this Agreement, either under this Section 6(e) or after the Company has failed
to exercise the Right of First Refusal, then this Agreement shall apply to the Transferee to the same extent as to you. 
 (f)
Termination of Rights as Stockholder. If the Company makes available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Shares to be purchased in accordance with this Section 6, then
after such time the person from whom such Shares are to be purchased shall no longer have any rights as a holder of such Shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such Shares shall be
deemed to have been purchased in accordance with the applicable provisions hereof, whether or not the certificate(s) therefor have been delivered as required by this Agreement. 

(g) Assignment of Right of First Refusal. The Board of Directors may freely assign the Company’s Right of First Refusal, in whole
or in part. Any person who accepts an assignment of the Right of First Refusal from the Company shall be entitled to and assume all of the Company’s rights and obligations under this Section 6. 

SECTION 7. RESTRICTIONS APPLICABLE TO SHARES. 

(a) General Restrictions. Unless the Stock is readily tradeable on an established securities market, the transfer of any of the Shares
acquired pursuant to this Agreement (or any interest therein) shall, at the Company’s request, be condition upon (i) effecting such transfer pursuant to a form of stock transfer agreement prescribed by the Company and (ii) payment of
a transfer fee not to exceed $5,000. 

  
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 (b) Securities Law Restrictions. Regardless of whether the offering and sale of
Shares under the Plan have been registered under the Securities Act or have been registered or qualified under the securities laws of any State or other relevant jurisdiction, the Company at its discretion may impose restrictions upon the sale,
pledge or other transfer of such Shares (including the placement of appropriate legends on the stock certificates (or electronic equivalent) or the imposition of stop-transfer instructions) and may refuse (or
may be required to refuse) to transfer Shares acquired hereunder (or Shares proposed to be transferred in a subsequent transfer) if, in the judgment of the Company, such restrictions, legends or refusal are necessary or appropriate to achieve
compliance with the Securities Act or other relevant securities or other laws, including without limitation under Regulation S of the Securities Act or pursuant to another available exemption from registration. You (or the beneficiary or your
personal representative in the event of your death or incapacity, as the case may be) shall deliver to the Company any representations or other documents or assurances as the Company may deem necessary or reasonably desirable to ensure compliance
with all applicable legal and regulatory requirements. 
 (c) Market Stand-Off. In connection
with any underwritten public offering by the Company of its equity securities pursuant to an effective registration statement filed under the Securities Act, including the Company’s initial public offering, you or a Transferee shall not
directly or indirectly sell, make any short sale of, loan, hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase any option or other contract for the sale of, or otherwise dispose of or transfer, or
agree to engage in any of the foregoing transactions with respect to, any Shares acquired under this Agreement without the prior written consent of the Company or its managing underwriter. Such restriction (the “Market Stand-Off”) shall be in effect for such period of time following the date of the final prospectus for the offering as may be requested by the Company or such underwriter. In no event, however, shall such
period exceed 180 days plus such additional period as may reasonably be requested by the Company or such underwriter to accommodate regulatory restrictions on (i) the publication or other distribution of research reports or (ii) analyst
recommendations and opinions, including (without limitation) the restrictions set forth in Rule 2711(f)(4) of the National Association of Securities Dealers and Rule 472(f)(4) of the New York Stock Exchange, as amended, or any similar
successor rules. The Market Stand-Off shall in any event terminate two years after the date of the Company’s initial public offering. In the event of the declaration of a stock dividend, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities without receipt of consideration, any new, substituted or
additional securities which are by reason of such transaction distributed with respect to any Shares subject to the Market Stand-Off, or into which such Shares thereby become convertible, shall immediately be
subject to the Market Stand-Off. In order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect to the Shares acquired under
this Agreement until the end of the applicable stand-off period. The Company’s underwriters shall be beneficiaries of the agreement set forth in this Section 7(c). This Section 7(c) shall not
apply to Shares registered in the public offering under the Securities Act. 
 (d) Investment Intent at Grant. You represent and
agree that the Shares to be acquired upon settlement of these RSUs will be acquired for investment, and not with a view to the sale or distribution thereof. 

  
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 (e) Investment Intent at Settlement. In the event that the sale of Shares under the
Plan is not registered under the Securities Act but an exemption is available that requires an investment representation or other representation, you shall represent and agree at the time of issuance that the Shares being acquired upon settlement of
these RSUs are being acquired for investment, and not with a view to the sale or distribution thereof, and shall make such other representations as are deemed necessary or appropriate by the Company and its counsel, including, at the time of
settlement, such representations as required by Regulation S of the Securities Act (if the Company is relying on such exemption)1. 

(f) Rights of the Company. The Company shall not be required to (i) transfer on its books any Shares that have been sold or
transferred in contravention of this Agreement or (ii) treat as the owner of Shares, or otherwise to accord voting, dividend or liquidation rights to, any Transferee to whom the Shares have been transferred in contravention of this Agreement.

 (g) Legends. All certificates evidencing the Shares issued under this Agreement shall bear the following legend: 

“THE SHARES REPRESENTED HEREBY (AND ANY INTEREST THEREIN) MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, ENCUMBERED OR IN ANY
MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS OF THE RESTRICTED STOCK UNIT AGREEMENT PURSUANT TO WHICH SUCH SHARES WERE ACQUIRED. SUCH AGREEMENT GRANTS TO THE COMPANY CERTAIN RIGHTS OF FIRST REFUSAL UPON AN ATTEMPTED TRANSFER OF THE
SHARES. IN ADDITION, THE SHARES ARE SUBJECT TO RESTRICTIONS ON TRANSFER AS SET FORTH IN SUCH RESTRICTED STOCK UNIT AGREEMENT. THE SECRETARY OF THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH RESTRICTED STOCK UNIT AGREEMENT TO THE HOLDER
HEREOF WITHOUT CHARGE.” 
 All certificates evidencing Shares issued under this Agreement in an unregistered transaction shall bear the following
legend (and such other restrictive legends as are required or deemed advisable under the provisions of any applicable law): 

“THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”) OR ANY SECURITIES LAWS OF ANY U.S. STATE, AND MAY NOT BE SOLD, REOFFERED, PLEDGED, ASSIGNED, ENCUMBERED OR OTHERWISE TRANSFERRED OR DISPOSED OF WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL,
SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED. IN THE ABSENCE OF REGISTRATION OR THE AVAILABILITY (CONFIRMED BY OPINION OF COUNSEL) OF AN ALTERNATIVE EXEMPTION FROM REGISTRATION 

 

	1 	 If the Company wishes to rely on Reg S, consider whether this should be expanded.

  
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UNDER THE ACT (INCLUDING WITHOUT LIMITATION IN ACCORDANCE WITH REGULATION S UNDER THE ACT), THESE SHARES MAY NOT BE SOLD, REOFFERED, PLEDGED, ASSIGNED, ENCUMBERED OR OTHERWISE TRANSFERRED OR
DISPOSED OF. HEDGING TRANSACTIONS INVOLVING THESE SHARES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT.” 
 (h) Removal of
Legends. If, in the opinion of the Company and its counsel, any legend placed on a stock certificate representing Shares issued under this Agreement is no longer required, the holder of such certificate shall be entitled to exchange such
certificate for a certificate representing the same number of Shares but without such legend. 
 (i) Administration. Any
determination by the Company and its counsel in connection with any of the matters set forth in this Section 7 shall be conclusive and binding on you and all other persons. 

SECTION 8. ADJUSTMENT OF SHARES. 
 In the
event of any transaction described in Section 13(a) of the Plan, the terms of these RSUs (including, without limitation, the number and kind of shares subject to these RSUs) shall be adjusted as set forth therein. In the event that the Company
is a party to a transaction described in Section 13(b) or (c), the terms of these RSUs shall be subject to the treatment provided for therein; provided, however, that any action taken must either preserve the exemption of your RSUs from Code
Section 409A or comply with Code Section 409A. Any additional RSUs and any new, substituted or additional shares, cash or other property that become subject to this award as a result of any such transaction shall be subject to the same
conditions and restrictions as applicable to the RSUs to which they relate. 
 SECTION 9. MISCELLANEOUS PROVISIONS. 

(a) No Retention Rights. Nothing in this Agreement or in the Plan shall confer upon you the right to remain in Service in any capacity
for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Parent or Subsidiary employing or retaining you) or you, which rights are hereby expressly reserved by each, to terminate your
Service at any time and for any reason, with or without cause. 
 (b) Notice. Any notice required by the terms of this Agreement
shall be given in writing. It shall be deemed effective upon (i) personal delivery, (ii) deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid, (iii) deposit with Federal Express
Corporation, with shipping charges prepaid or (iv) deposit with any internationally recognized express mail courier service, with shipping charges prepaid. Notice shall be addressed to the Company at its principal executive office and to you at
the address that you most recently provided to the Company in accordance with this Section 9(c). In addition, to the extent required or permitted pursuant to rules established by the Company from time to time, notices may be delivered
electronically. 
 (c) Modifications and Waivers. No provision of this Agreement shall be modified, waived or discharged unless the
modification, waiver or discharge is agreed to in 

  
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writing and signed by you and by an authorized officer of the Company (other than you). No waiver by either party of any breach of, or of compliance with, any condition or provision of this
Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 

(d) Entire Agreement. The Notice of Restricted Stock Unit Award, this Agreement and the Plan constitute the entire understanding
between you and the Company regarding the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) that relate to the subject matter hereof. 

(e) Choice of Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, as such
laws are applied to contracts entered into and performed in such State. 
 (f) Severability. Whenever possible, each provision of
this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be held to be prohibited by or invalid under applicable law, such provision shall be ineffective only
to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. 

(g) Successors and Assigns. Except as otherwise expressly provided to the contrary, the provisions of this Agreement shall inure to the
benefit of, and be binding upon, the Company and its successors and assigns and be binding upon you and your legal representatives, heirs, legatees, distributees, assigns and transferees by operation of law, whether or not any such person has become
a party to this Agreement or has agreed in writing to join herein and to be bound by the terms, conditions and restrictions hereof. 
 SECTION 10.
ACKNOWLEDGEMENTS. 
 In addition to the other terms, conditions and restrictions imposed on your RSUs and the Shares issuable upon
settlement of your RSUs pursuant to this Agreement and the Plan, you expressly acknowledge being subject to Sections 6 (Right of First Refusal) and 7 (Restrictions Applicable to Shares, including without limitation the Market Stand-Off), as well as the following provisions: 
 (a) Tax Consequences. You acknowledge that
there will be tax consequences upon vesting and/or settlement of the RSUs and/or disposition of the Shares, if any, received hereunder, and you should consult a tax adviser regarding your tax obligations prior to such event. You acknowledge that the
Company is not providing any tax, legal, or financial advice, nor is the Company making any recommendations regarding your participation in the Plan or acquisition or sale of Shares subject to this award. You are hereby advised to consult with your
own personal tax, legal, and financial advisors regarding your participation in the Plan. You further acknowledge that the Company (i) makes no representations or undertakings regarding the tax treatment of the award of RSUs, including, but not
limited to the grant, vesting, or settlement of the RSUs, the subsequent sale of Shares acquired pursuant to such RSUs, and the receipt of any dividends; and (ii) does not commit to and is under no obligation to

  
 9 

 
structure the terms of the grant of the RSUs to reduce or eliminate your tax liability or achieve any particular tax result. You agree that the Company does not have a duty to design or
administer the RSUs, the Plan or its other compensation programs in a manner that minimizes your tax liability. You shall not make any claim against the Company or its Board of Directors, officers, or employees related to tax matters arising from
this award or your other compensation. 
 (b) Electronic Delivery of Documents. You acknowledge and agree that the Company may, in
its sole discretion, deliver all documents relating the Company, the Plan or these RSUs and all other documents that the Company is required to deliver to its security holders (including, without limitation, disclosures that may be required by the
Securities and Exchange Commission) by email or other means of electronic transmission (including by posting them on a website maintained by the Company or a third party under contract with the Company). You acknowledge that you may incur costs in
connection with any such delivery by means of electronic transmission, including the cost of accessing the internet and printing fees, and that an interruption of internet access may interfere with his or her ability to access the documents. 

(c) Plan Discretionary. You understand and acknowledge that (i) the Plan is entirely discretionary, (ii) the Company and
your employer have reserved the right to amend, suspend or terminate the Plan at any time, (iii) the grant of the RSUs does not in any way create any contractual or other right to receive additional grants of RSUs (or benefits in lieu of
RSUs) at any time or in any amount and (iv) all determinations with respect to any additional grants, including (without limitation) the times when RSUs will be granted, the number of Shares offered, and the vesting schedule, will be at the
sole discretion of the Company. 
 (d) Termination of Service. You understand and acknowledge that participation in the Plan ceases
upon termination of your Service for any reason, except as may explicitly be provided otherwise in the Plan or this Agreement. 
 (e)
Extraordinary Compensation. The value of your RSUs and the Shares issuable thereunder shall be an extraordinary item of compensation outside the scope of your employment contract, if any, and shall not be considered a part of your normal or
expected compensation for purposes of calculating severance, resignation, redundancy or end-of-service payments, bonuses, long-service awards, pension or retirement
benefits or similar payments. 
 (f) Authorization to Disclose. You hereby authorize and direct your employer to disclose to the
Company or any Subsidiary any information regarding your employment, the nature and amount of your compensation and the fact and conditions of your participation in the Plan, as your employer deems necessary or appropriate to facilitate the
administration of the Plan. 
 (g) Personal Data Authorization. You consent to the collection, use and transfer of personal data as
described in this Subsection (g). You understand and acknowledge that the Company, your employer and the Company’s other Subsidiaries hold certain personal information regarding you for the purpose of managing and administering the Plan,
including (without limitation) your name, home address, telephone number, date of birth, social insurance number, salary, nationality, job title, any Shares or directorships held in the Company and details

  
 10 

 
of all RSUs or any other entitlements to Shares awarded, canceled, exercised, vested, unvested or outstanding in your favor (the “Data”). You further understand and acknowledge
that the Company and/or its Subsidiaries will transfer Data among themselves as necessary for the purpose of implementation, administration and management of your participation in the Plan and that the Company and/or any Subsidiary may each further
transfer Data to any third party assisting the Company in the implementation, administration and management of the Plan. You understand and acknowledge that the recipients of Data may be located in the United States or elsewhere. You authorize such
recipients to receive, possess, use, retain and transfer Data, in electronic or other form, for the purpose of administering your participation in the Plan, including a transfer to any broker or other third party with whom you elect to deposit
Shares acquired under the Plan of such Data as may be required for the administration of the Plan and/or the subsequent holding of Shares on your behalf. You may, at any time, view the Data, require any necessary modifications of Data or withdraw
the consents set forth in this Subsection (g) by contacting the Company in writing. 
 SECTION 11. DEFINITIONS. 

(a) “Agreement” means this Restricted Stock Unit Agreement. 

(b) “Board of Directors” means the Board of Directors of the Company, as constituted from time to time or, if a Committee has
been appointed, such Committee. 
 (c) “Code” means the Internal Revenue Code of 1986, as amended. 

(d) “Company” means Inari Medical, Inc., a Delaware corporation. 

(e) “Date of Grant” means the date specified in the Notice of Restricted Stock Unit Award, which date shall be the later of
(i) the date on which the Board of Directors resolved to grant these RSUs or (ii) your first date of Service. 
 (f)
“Expiration Date” means the expiration date of the RSUs as set forth in the Notice of Restricted Stock Unit Award; provided that the Expiration Date may be automatically extended under the circumstances specified in the final
sentence of Section 4(a). 
 (g) “Immediate Family” means any 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 and shall include adoptive relationships. 

(h) “IPO” means the first firm commitment underwritten public offering pursuant to an effective registration statement under
the Securities Act covering the offer and sale by the Company of its equity securities, as a result of or following which the Shares shall be publicly held, and “IPO Date” means the date on which the IPO occurs. 

(i) “Plan” means the Company’s 2011 Equity Incentive Plan, as in effect on the Date of Grant. 

(j) “Right of First Refusal” means the Company’s right of first refusal described in Section 6. 

  
 11 

 (k) “RSUs” means the Restricted Stock Units granted to you by the Company
as set forth in the Notice of Restricted Stock Unit Award. 
 (l) “Sale Event” means the consummation of the following
transactions in which holders of Shares receive cash and/or marketable securities tradable on an established national or foreign securities exchange: (i) a sale of all or substantially all of the assets of the Company determined on a
consolidated basis to an unrelated person or entity; (ii) a merger, reorganization, or consolidation involving the Company in which the shares of voting stock of the Company outstanding immediately prior to such transaction represent or are
converted into or exchanged for securities of the surviving or resulting entity immediately upon completion of such transaction which represent less than 50% of the outstanding voting power of such surviving or resulting entity; or (iii) the
acquisition of all or a majority of the outstanding voting stock of the Company in a single transaction or series of related transactions by a person or group of persons. For the avoidance of doubt, an initial public offering, any subsequent public
offering, another capital raising event, and a merger effected solely to change the Company’s domicile shall not constitute a “Sale Event.” In addition, a transaction shall not constitute a Sale Event unless such transaction also
qualifies as an event under Treasury Regulation Section 1.409A-3(i)(5)(v) (change in the ownership of a corporation), Treasury Regulation
Section 1.409A-3(i)(5)(vi) (change in the effective control of a corporation), or Treasury Regulation Section 1.409A-3(i)(5)(vii) (change in the ownership of a
substantial portion of a corporation’s assets). 
 (m) “Service” has the meaning set forth in the Plan, provided
that in the event of any dispute over whether and when Service has terminated, the Board of Directors shall have sole discretion to determine whether such termination has occurred and the effective date of such termination. 

(n) “Service-Based Requirement” means the requirement to provide Service over the period of time set forth in the Notice of
Restricted Stock Unit Award. 
 (o) “Short-Term Deferral End Date” means the date that is the later of (i) two and one-half months following the end of the calendar year in which the Service Date applicable to an RSU occurs or (ii) two and one-half months following the end of the
Company’s fiscal year in which the Service Date applicable to an RSU occurs. 
 (p) “Transferee” means any person to
whom you have directly or indirectly transferred any Shares acquired under this Agreement. 
 (q) “Transfer Notice” means
the notice of a proposed transfer of Shares described in Section 6. 
 (r) “U.S. Person” means a person described in
Rule 902(k) of Regulation S of the Securities Act (or any successor rule or provision), which generally defines a U.S. person as any natural person resident in the United States, any estate of which any executor or administrator is a U.S. Person, or
any trust of which of any trustee is a U.S. Person. 

  
 12 

 EXHIBIT A 

INARI MEDICAL, INC. 2011 EQUITY INCENTIVE PLAN

 BENEFICIARY DESIGNATION FOR STOCK UNITS 

Name:
                                         
                                         
                                         
                                         

 Employee Number:              

If I die, any stock units that I hold under the Inari Medical, Inc. 2011 Equity Incentive Plan (the “Plan”) are to be transferred to those
beneficiaries designated on page 2 who survive me, subject to the provisions of the Plan. The transfer is to be made as follows [check one box only]: 
  

	☐	 Entirely to the spouse to whom I am currently married. [Please provide name and address on
page 2.] If my spouse does not survive me, payment is to be made to [check one box only]: 

  

	 	☐	 All of my children who survive me in equal shares. [Please provide names and addresses on
page 2.] 

  

	 	☐	 All of the persons named on page 2 who survive me in equal shares. 

 

	☐	 To all of my children who survive me in equal shares. [Please provide names and addresses on
page 2.] 

  

	☐	 To all of my siblings who survive me in equal shares. [Please provide names and addresses on
page 2.] 

  

	☐	 Entirely to the first person named on page 2 who survives me. 

 

	☐	 To all of the persons named on page 2 who survive me in equal shares. 

 

	☐	 Other [please use a separate sheet if necessary]: 

	
	                                      
                                         
                                         
                                         
   
	                                      
                                         
                                         
                                         
   
	                                      
                                         
                                         
                                         
   
	                                      
                                         
                                         
                                         
   
	                                      
                                         
                                         
                                         
   

 The term “children” means natural or legally adopted children but excludes stepchildren (if not adopted). The term
“siblings” means brothers and sisters, whether natural or adoptive, but excludes stepbrothers and stepsisters. 

  
 13 

 The names and addresses of my beneficiaries are as follows [please use a separate sheet if
necessary]: 
  

	1.	
Name:                      
                                         
              Relationship:
                                         
 

 Address:
                                        
                                         
                                         
               

                       
                                         
                       Telephone: (      )
                                    

 

	2.	
Name:                      
                                         
              Relationship:
                                         
 

 Address:
                                        
                                         
                                         
               

                       
                                         
                       Telephone: (      )
                                    

 

	3.	
Name:                      
                                         
              Relationship:
                                         
 

 Address:
                                        
                                         
                                         
               

                       
                                         
                       Telephone: (      )
                                    

 

	4.	
Name:                      
                                         
              Relationship:
                                         
 

 Address:
                                        
                                         
                                         
               

                       
                                         
                       Telephone: (      )
                                    

 

	5.	
Name:                      
                                         
              Relationship:
                                         
 

 Address:
                                        
                                         
                                         
               

                       
                                         
                       Telephone: (      )
                                    

This beneficiary designation is to take effect on the date when it is received by the person responsible for administering the Plan at Inari Medical, Inc.,
and it supersedes any prior designations that I may have made under the Plan. 
  

					
			
	                                     ,
            	 		 	   

	            (Date)	 		 	                                
(Signature)

 Please file this form with Inari Medical, Inc. 
  

 
 Received by:
                                         
                                        

Date of receipt:
                                     ,
             

  
 14EX-10.8

 Exhibit 10.8 

Execution Version 

INARI MEDICAL, INC. 

SIGNATURE BANK 
 LOAN
AND SECURITY AGREEMENT 

 This LOAN AND SECURITY AGREEMENT (this “Agreement”) is entered into
as of December 11, 2019, by and between SIGNATURE BANK (“Bank”) and INARI MEDICAL, INC. (“Borrower”). 

RECITALS 

Borrower wishes to obtain credit from time to time from Bank, and Bank desires to extend credit to Borrower. This Agreement sets forth the
terms on which Bank will advance credit to Borrower, and Borrower will repay the amounts owing to Bank. 
 AGREEMENT

 The parties agree as follows: 

1.    DEFINITIONS AND CONSTRUCTION. 

1.1    Definitions. As used in this Agreement, the following terms shall have the following definitions:

 “Accounts” means all presently existing and hereafter arising accounts, contract rights, payment intangibles, and all
other forms of obligations owing to Borrower arising out of the sale or lease of goods (including, without limitation, the licensing of software and other technology) or the rendering of services by Borrower, whether or not earned by performance,
and any and all credit insurance, guaranties, and other security therefor, as well as all merchandise returned to or reclaimed by Borrower and Borrower’s Books relating to any of the foregoing. 

“Affiliate” means, with respect to any Person, any Person that owns or controls directly or indirectly such Person, any
Person that controls or is controlled by or is under common control with such Person, and each of such Person’s senior executive officers, directors, and partners. 

“Aggregate Borrowing Limit” means Forty Million Dollars ($40,000,000). 

“Agreement” has the meaning assigned in the preamble hereof. 

“Ancillary Services” means any of the following products or services requested by Borrower and provided by Bank under the
Formula Revolving Line, including, without limitation, Automated Clearing House transactions, corporate credit card services, FX Contracts, Letters of Credit, controlled disbursement accounts, check cashing services, or other cash management
services. 
 “Ancillary Services Sublimit” means a sublimit for Ancillary Services under the Formula Revolving Line not to
exceed Two Million Dollars ($2,000,000). 
 “Ancillary Services Usage Amount” means the aggregate of (a) the Letter of
Credit Exposure, (b) the aggregate limits of corporate credit card services provided by Bank to Borrower, (c) the total amount of any Automated Clearing House processing reserves, (d) the applicable Foreign Exchange Reserve
Percentage, and (e) any other outstanding amount or reserves taken by Bank in connection with other cash management services requested by Borrower and approved by Bank. 

“Bank Expenses” means all: reasonable and documented
out-of-pocket costs or expenses (including reasonable attorneys’ fees and expenses) incurred in connection with the preparation, negotiation, administration, and
enforcement of the Loan Documents; reasonable Collateral audit fees; and Bank’s reasonable and documented out-of-pocket attorneys’ fees and expenses incurred
in amending, enforcing, or defending the Loan Documents (including fees and expenses of appeal), incurred before, during, and after an Insolvency Proceeding, whether or not suit is brought. 

“Borrower’s Books” means all of Borrower’s books and records including: ledgers; records concerning Borrower’s
assets or liabilities, the Collateral, business operations or financial condition; and all computer programs, or tape files, and the equipment, containing such information. 

 “Borrowing Base” means an amount equal to eighty percent (80%) of Eligible
Accounts, as determined by Bank with reference to the most recent Borrowing Base Certificate delivered by Borrower; provided, however, that Bank has the right to decrease the foregoing percentages in its Permitted Discretion to mitigate the impact
of events, conditions, contingencies, or risks which may adversely affect the Collateral or its value. 
 “Business Day”
means any day that is not a Saturday, Sunday, or other day on which banks in the State of New York are authorized or required to close. 

“CFC” means (a) a controlled foreign corporation within the meaning of Section 957 of the IRC in which any Loan
Party is a “United States shareholder” within the meaning of Section 951(b) of the IRC and (b) any Subsidiary whose sole assets (other than a de minimis amount) are equity of one (1) or more
entities described in clause (a) of this definition, in each case of clauses (a) and (b), with respect to which Borrower shall have made a determination, in its reasonable judgment, that a guaranty by, grant of a Lien by, or pledge of two-thirds or more of the voting equity interests of such Subsidiary would result in material incremental income tax liability as a result of the application of Section 956 of the IRC, taking into account
actual anticipated repatriation of funds, foreign tax credits, and other relevant factors. 
 “Change in Control” means a
transaction in which any “person” or “group” (within the meaning of Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) becomes the “beneficial owner” (as defined in Rule
13d-3 under the Securities Exchange Act of 1934), directly or indirectly, of a sufficient number of shares of all classes of stock then outstanding of Borrower ordinarily entitled to vote in the election of
directors, empowering such “person” or “group” to elect a majority of the Board of Directors of Borrower, who did not have such power before such transaction. 

“Client Reporting File” means that certain Client Reporting File provided to Borrower by Bank in connection with the
execution hereof, as may be amended from time to time. 
 “Closing Date” means the date of this Agreement. 

“Code” means the New York Uniform Commercial Code. 

“Collateral” means the property described on Exhibit A attached hereto provided, that the
Collateral shall not include (a) more than sixty-five percent (65%) of the stock, units, or other evidence of ownership of any CFC if the pledge of two-thirds or more of the voting equity interests of
such Subsidiary would result in material incremental income tax liability as a result of the application of Section 956 of the IRC, taking into account actual anticipated repatriation of funds, foreign tax credits, and other relevant factors
(b) any interest of a Loan Party as a lessee or sublessee under a real property lease, (c) rights held under a license or other agreement that are not assignable by their terms without the consent of the licensor thereof (but only to the
extent such restriction on assignment is enforceable under applicable law), (d) any interest of a Loan Party as a lessee under an Equipment lease if such Loan Party is prohibited by the terms of such lease from granting a security interest in such
lease or under which such an assignment or Lien would cause a default to occur under such lease; provided, however, that upon termination of such prohibition, such interest shall immediately become Collateral without any action by such Loan Party or
Bank, or (e) any Equipment not financed by Bank or rights of a Loan Party as a licensee to the extent the granting of a security interest therein (i) would be contrary to applicable law or (ii) is prohibited by or would constitute a
default under any agreement or document governing such property (but only to the extent such prohibition is enforceable under applicable law); provided that upon the termination or lapsing of any such prohibition, such property shall automatically
be part of the Collateral; and provided further that the provisions of this paragraph shall in no case exclude from the definition of “Collateral” any Accounts, proceeds of the disposition of any property, or general intangibles consisting
of rights to payment, all of which shall at all times constitute “Collateral”. 
 “Contingent Obligation” means,
as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to (a) any indebtedness, lease, dividend, letter of credit, or other obligation of another; (b) any obligations with respect
to undrawn letters of credit, corporate credit cards, or merchant services issued or provided for the account of that Person; and (c) all obligations arising under any agreement or arrangement designed to protect such Person against fluctuation
in interest rates, currency exchange rates, or commodity prices; provided, however, that the term “Contingent Obligation” shall not include endorsements for collection or deposit in the ordinary course of business. The amount of any
Contingent Obligation shall be deemed to be an amount equal to 

  
 2 

 
the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in
respect thereof as determined by Bank in good faith; provided, however, that such amount shall not in any event exceed the maximum amount of the obligations under the guarantee or other support arrangement. 

“Copyrights” means any and all copyright rights, copyright applications, copyright registrations, and like protections in
each work or authorship and derivative work thereof. 
 “Credit Extension” means each Formula Revolving Advance, Term Loan
Advance, use of the Ancillary Services, or any other extension of credit by Bank for the benefit of Borrower hereunder. 
 “Daily
Balance” means the amount of the Obligations owed at the end of a given day. 
 “Eligible Accounts” means those
Accounts that arise in the ordinary course of Borrower’s business that comply with all of Borrower’s representations and warranties to Bank set forth in Section 5.4; provided, that standards of eligibility may be fixed and revised
from time to time by Bank in Bank’s reasonable judgment and upon notification thereof to Borrower in accordance with the provisions hereof. Unless otherwise agreed to by Bank, Eligible Accounts shall not include the following: 

(a)    Accounts that the account debtor has failed to pay within ninety (90) days of invoice date; 

(b)    Accounts with respect to an account debtor, twenty-five percent (25%) of whose Accounts the account debtor has
failed to pay within ninety (90) days of invoice date; 
 (c)    Accounts with respect to which the account debtor
is an officer, employee, or agent of Borrower; 
 (d)    Accounts with respect to which goods are placed on
consignment, guaranteed sale, sale or return, sale on approval, bill and hold, demo or promotional, or other terms by reason of which the payment by the account debtor may be conditional; 

(e)    Prebillings, prepaid deposits, retention billings, unbilled, or progress billings; 

(f)    Accounts with respect to which the account debtor is an Affiliate of Borrower; 

(g)    Accounts with respect to which the account debtor does not have its principal place of business in the United
States, except for Eligible Foreign Accounts; 
 (h)    Accounts with respect to which the account debtor is the United
States or any department, agency, or instrumentality of the United States (other than the United States Department of Veterans Affairs), except where such accounts are backed by an assignment of claims in which case Bank may, in its Permitted
Discretion, approve inclusion of such accounts on a case by case basis; 
 (i)    Accounts with respect to which
Borrower is liable to the account debtor for goods sold or services rendered by the account debtor to Borrower or for deposits or other property of the account debtor held by Borrower, but only to the extent of any amounts owing to the account
debtor against amounts owed to Borrower; 
 (j)    Accounts with respect to an account debtor, including Subsidiaries
and Affiliates, whose total obligations to Borrower exceed twenty-five percent (25%) of all Accounts, to the extent such obligations exceed the aforementioned percentage, except as approved in writing by Bank; 

(k)    with respect to which the account debtor disputes liability or makes any claim with respect thereto as to which
Bank believes, in its sole discretion, that there may be a basis for dispute (but only to the extent of the amount subject to such dispute or claim), or is subject to any Insolvency Proceeding, or becomes insolvent, or goes out of business; and 

  
 3 

 (l)    Accounts the collection of which Bank reasonably determines to
be doubtful. 
 “Eligible Foreign Accounts” means Accounts with respect to which the account debtor does not have its
principal place of business in the United States and that (a) are supported by one (1) or more letters of credit in an amount and of a tenor, and issued by a financial institution, acceptable to Bank, or (b) that Bank approves on a case-by-case basis. 
 “Equipment” means all
present and future machinery, equipment, tenant improvements, furniture, fixtures, vehicles, tools, parts, and attachments in which Borrower has any interest. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and the regulations thereunder. 

“Event of Default” has the meaning assigned in Article 8. 

“Excluded Accounts” means any account used solely for payroll, payroll taxes, employee wage and benefit payments, and other
employee wage and benefit payments to and for the benefit of Borrower’s or any Subsidiary’s employees and identified to Bank by Borrower as such. 

“First Interest Only Extension Milestone” means Borrower achieving at least One Hundred Million Dollars ($100,000,000) of
trailing twelve (12) month Revenue as of or prior to the period ending November 30, 2021, as determined by Bank with reference to the financial information delivered to Bank under Section 6.3. 

“Foreign Exchange Reserve Percentage” means a percentage of reserves for FX Contracts as determined by Bank, in its
reasonable discretion from time to time. The initial Foreign Exchange Reserve Percentage shall be ten percent (10%). 

“Formula Revolving Advance” or “Formula Advances” means a cash advance or cash advances under the Formula
Revolving Line. 
 “Formula Revolving Line” means one (1) or more credit extensions of up to an aggregate principal
amount of Fifteen Million Dollars ($15,000,000) (inclusive of the Ancillary Services Sublimit). 
 “Formula Revolving Line Maturity
Date” means December 11, 2022; provided however, if Borrower, prior to December 11, 2022, receives at least Seventy Five Million Dollars ($75,000,000) of gross proceeds from an initial public offering of its equity securities
effectuated pursuant to an effective registration statement filed under the Securities Act of 1933, as amended, Formula Revolving Line Maturity Date shall mean December 11, 2024. 

“FX Contracts” means contracts between Borrower and Bank for foreign exchange transactions. 

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

“Indebtedness” means (a) all indebtedness for borrowed money or the deferred purchase price of property or services,
including without limitation reimbursement and other obligations with respect to surety bonds and letters of credit, (b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all capital lease obligations, and
(d) all Contingent Obligations. 
 “Insolvency Proceeding” means any proceeding commenced by or against any person or
entity under any provision of the United States Bankruptcy Code, as amended, or under any other bankruptcy or insolvency law, including assignments for the benefit of creditors, formal or informal moratoria, compositions, extension generally with
its creditors, or proceedings seeking reorganization, arrangement, or other relief. 
 “Intellectual Property” means all of
Borrower’s right, title, and interest in and to the following: Copyrights, Trademarks, and Patents; all trade secrets, all design rights, claims for damages by way of past, present and future infringement of any of the rights included above,
all licenses or other rights to use any of the Copyrights, Patents or Trademarks, and all license fees and royalties arising from such use to the extent permitted by such license or rights; all amendments, renewals, and extensions of any of the
Copyrights, Trademarks, or Patents; and all proceeds and products of the foregoing, including without limitation all payments under insurance or any indemnity or warranty payable in respect of any of the foregoing. 

  
 4 

 “Inventory” means all inventory in which Borrower has or acquires any
interest, including work in process and finished products intended for sale or lease or to be furnished under a contract of service, of every kind and description now or at any time hereafter owned by or in the custody or possession, actual or
constructive, of Borrower, including such inventory as is temporarily out of its custody or possession or in transit and including any returns upon any accounts or other proceeds, including insurance proceeds, resulting from the sale or disposition
of any of the foregoing and any documents of title representing any of the above, and Borrower’s Books relating to any of the foregoing. 

“Investment” means any beneficial ownership of (including stock, partnership interest, or other securities) any Person, or
any loan, advance or capital contribution to any Person. 
 “Investment Collateral” means money, cash and cash equivalents,
cash proceeds, securities, security entitlements and other investment property, deposit accounts, securities accounts and other similar collateral. 

“IRC” means the Internal Revenue Code of 1986, as amended, and the regulations thereunder. 

“Letter of Credit” or “Letters of Credit” means a commercial or standby letter of credit or similar
undertaking issued by Bank (or any of its correspondent banks) at Borrower’s request. 
 “Letter of Credit Exposure”
means, as of any date of determination, the sum, without duplication, of (a) the aggregate undrawn amount of all outstanding Letters of Credit and any obligations of Bank related to purchased participations or indemnity or reimbursement
obligations with respect to Letters of Credit, plus (b) the aggregate unreimbursed amount of all drawn Letters of Credit until such amount becomes an Advance under the terms of this Agreement. 

“Lien” means any mortgage, lien, deed of trust, charge, pledge, security interest, or other encumbrance. 

“Loan Documents” means, collectively, this Agreement, any note or notes executed by Borrower, and any other agreement entered
into in connection with this Agreement, all as amended or extended from time to time. 
 “Loan Parties” means Borrower and
each Subsidiary that becomes a co-borrower hereunder or a secured guarantor of the Obligations, in each case, in accordance with Section 6.10. 

“Material Adverse Effect” means the occurrence of any circumstance which would be reasonably likely to have a material
adverse effect on (a) the operations, business, or financial condition of Borrower and its Subsidiaries taken as a whole, (b) the ability of Borrower to repay the Obligations or otherwise perform its obligations under the Loan Documents,
or (c) Borrower’s interest in, or the value, perfection, or priority of Bank’s security interest in the Collateral. 

“Negotiable Collateral” means all letters of credit of which Borrower is a beneficiary, notes, drafts, instruments,
securities, documents of title, and chattel paper, and Borrower’s Books relating to any of the foregoing. 
 “New
Subsidiary” has the meaning assigned in Section 6.10. 
 “Obligations” means all debt, principal, interest,
Bank Expenses, and other amounts owed to Bank by Borrower pursuant to this Agreement or any other agreement, whether absolute or contingent, due or to become due, now existing or hereafter arising, including any interest that accrues after the
commencement of an Insolvency Proceeding and including any debt, liability, or obligation owing from Borrower to others that Bank may have obtained by assignment or otherwise. Notwithstanding the foregoing, “Obligations” shall not include
any warrant or equity-related investments. 
 “Patents” means all patents, patent applications, and like protections,
including without limitation improvements, divisions, continuations, renewals, reissues, extensions, and continuations-in-part of the same. 

  
 5 

 “Periodic Payments” means all installments or similar recurring payments
that Borrower may now or hereafter become obligated to pay to Bank pursuant to the terms and provisions of any instrument, or agreement now or hereafter in existence between Borrower and Bank. 

“Permitted Discretion” means Bank’s reasonable credit judgment (from the perspective of an asset-based lender and
venture debt lender) exercised in good faith in accordance with customary business practices for similar asset-based lending and venture debt facilities. 

“Permitted Indebtedness” means: 

(a)    Indebtedness of Borrower in favor of Bank arising under this Agreement or any other Loan Document; 

(b)    Indebtedness existing on the Closing Date and disclosed in the Schedule and any extensions, renewals, refinancings
and replacements of any such Indebtedness; provided that (i) such extension, renewal, refinancing or replacement shall not, except to the extent applicable only to periods after the Term Loan Maturity Date, (A) increase the outstanding
principal amount of the Indebtedness being extended, renewed, refinanced or replaced, (B) contain terms relating to outstanding principal amount, amortization, maturity, collateral security (if any) or subordination (if any), or other material
terms that, taken as a whole, are less favorable in any material respect to the Borrowers or the Bank than the terms of any agreement or instrument governing the Indebtedness being refinanced, (C) have an applicable interest rate or equivalent
yield that exceeds the interest rate or equivalent yield of the Indebtedness being refinanced, or (D) contain any new requirement to grant any Lien or to give any guarantee that was not an existing requirement of the Indebtedness being
refinanced and (ii) after giving effect to such extension, renewal, refinancing or replacement, no Event of Default shall have occurred (or could reasonably be expected to occur) as a result thereof; 

(c)    Indebtedness secured by a lien described in clause (c) of the defined term “Permitted Liens,”
provided (i) such Indebtedness does not exceed the lesser of the cost or fair market value of the equipment financed with such Indebtedness and (ii) such Indebtedness does not exceed One Million Dollars ($1,000,000) in the aggregate at any
given time; 
 (d)    Subordinated Debt; 

(e)    Indebtedness to trade creditors and other unsecured accounts payable incurred in the ordinary course of business;

 (f)    Indebtedness under corporate credit cards provided by financial institutions other than Bank used in the
ordinary course of business not to exceed Three Hundred Fifty Thousand Dollars ($350,000); 
 (g)    Indebtedness owing
by Borrower or one of its Subsidiaries to Borrower or one of its Subsidiaries; provided that, any such Indebtedness that is owing by a Loan Party to a Subsidiary that is not a Loan Party, such Indebtedness shall not exceed One Million Dollars
($1,000,000) in the aggregate at any time outstanding; and 
 (h)    other Indebtedness at any time outstanding not to
exceed Five Hundred Thousand Dollars ($500,000) in the aggregate. 
 “Permitted Investment” means: 

(a)    Investments existing on the Closing Date disclosed in the Schedule; 

(b)    (i) marketable direct obligations issued or unconditionally guaranteed by the United States of America or any
agency or any state thereof maturing within one (1) year from the date of acquisition thereof, (ii) commercial paper maturing no more than one (1) year from the date of creation thereof and currently having a rating of at least A-2 or P-2 from either Standard & Poor’s Corporation or Moody’s Investors Service, (iii) certificates of deposit maturing no more than one
(1) year from the date of investment therein issued by Bank, and (iv) Bank’s money market accounts; 

  
 6 

 (c)    Investments consisting of the endorsement of negotiable
instruments for deposit or collection or similar transactions in the ordinary course of business; 
 (d)    Investments
consisting of deposit accounts maintained with Bank or that are subject to a control agreement with Bank in form and substance reasonably satisfactory to Bank (unless such a control agreement is not required under
Section 7.7); 
 (e)    Investments in connection with Transfers permitted by
Section 7.1; 
 (f)    Investments (including debt obligations) received in connection with the bankruptcy or
reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 

(g)    Investments by Borrower or one of its Subsidiaries in Borrower or one of its Subsidiaries; provided that, any such
Investments by a Loan Party in a Subsidiary that is not a Loan Party shall not exceed One Million Dollars ($1,000,000) in the aggregate (for the avoidance of doubt, the amount of an Investment constituting intercompany Indebtedness shall be the
principal amount at any time outstanding); 
 (h)    other Investments at any time outstanding not to exceed Five
Hundred Thousand Dollars ($500,000) in the aggregate. 
 “Permitted Liens” means the following: 

(a)    Any Liens existing on the Closing Date and disclosed in the Schedule or arising under this Agreement or the other
Loan Documents; 
 (b)    Liens for taxes, fees, assessments, or other governmental charges or levies, either not
delinquent or being contested in good faith by appropriate proceedings and with respect to which adequate reserves are maintained on the books of the applicable Loan Party or Subsidiary in conformity with GAAP; 

(c)    Liens (i) upon or in any Equipment which was not financed by Bank acquired or held by Borrower or any of its
Subsidiaries to secure the purchase price of such Equipment or Indebtedness incurred solely for the purpose of financing the acquisition of such Equipment, or (ii) existing on such Equipment at the time of its acquisition, provided that the
Lien is confined solely to the property so acquired and improvements thereon, and the proceeds of such Equipment; 

(d)    leases or subleases of real property granted in the ordinary course of business, and leases, subleases, non-exclusive licenses or sublicenses of personal property (other than Intellectual Property) granted in the ordinary course of business, if the leases, subleases, licenses and sublicenses do not prohibit granting
Bank a security interest therein; 
 (e)    Liens of carriers, warehousemen, suppliers, or other Persons that are
possessory in nature arising in the ordinary course of business so long as such Liens attach only to Inventory, securing liabilities in the aggregate amount not to exceed One Hundred Thousand Dollars ($100,000) and which are not delinquent or remain
payable without penalty or which are being contested in good faith and by appropriate proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto; 

(f)    Liens to secure payment of workers’ compensation, employment insurance,
old-age pensions, social security and other like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA); 

(g)    non-exclusive licenses of Intellectual Property granted to third parties
in the ordinary course of business; 
 (h)    Liens arising from attachments or judgments, orders, or decrees in
circumstances not constituting an Event of Default under Section 8.4 or Section 8.7; 

  
 7 

 (i)    with respect to depository and operating accounts permitted to
be maintained with financial institutions other than Bank in accordance with Section 6.7 and for which Bank has a control agreement in form and substance reasonably satisfactory to Bank (unless such a control agreement is not required under
Section 7.7), Liens (i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code or any comparable or successor provision on items in the course of collection,
(ii) attaching to commodity trading accounts or other commodity brokerage accounts incurred in the ordinary course of business, and (iii) in favor of banking or other financial institutions or other electronic payment service providers
arising as a matter of law encumbering deposits (including the right of set-off) and which are within the general parameters customary in the banking or finance industry; 

(j)    Liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by Liens of
the type described in clauses (a) through (i) above, provided that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness being extended, renewed,
or refinanced does not increase; and 
 (k)    purchase money Liens at any time outstanding securing Indebtedness or
other obligations not to exceed Five Hundred Thousand Dollars ($500,000) in the aggregate. 
 “Person” means any
individual, sole proprietorship, partnership, limited liability company, joint venture, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity, or governmental
agency. 
 “Prime Rate” means the variable rate of interest, per annum, most recently announced by Bank, as its “prime
rate,” whether or not such announced rate is the lowest rate available from Bank. 
 “Reg W Affiliate” means an
“affiliate” as such term is set forth in Section 23A(b)(1) of the Federal Reserve Act (12 USC 371c). 
 “Responsible
Officer” means each of the Chief Executive Officer, the Chief Operating Officer, the Chief Financial Officer, and the Controller of Borrower, as well as any other officer or employee identified as an Authorized Officer in the corporate
resolution delivered by Borrower to Bank in connection with this Agreement. 
 “Revenue” means revenue recognized in
accordance with GAAP. 
 “Schedule” means the schedule of exceptions attached hereto and approved by Bank, if any. 

“Second Interest Only Extension Milestone” means Borrower achieving at least One Hundred Thirteen Million Dollars
($113,000,000) of trailing twelve (12) month Revenue as of or prior to the period ending June 30, 2022, as determined by Bank with reference to the financial information delivered to Bank under Section 6.3 

“Shares” means one hundred percent (100%) of the issued and outstanding capital stock, membership units, general partnership
interest, or other securities owned or held of record by Borrower directly in any Person; provided however, Shares shall not include the equity interests described in clause (a) of the definition of “Collateral”. 

“Subordinated Debt” means any debt incurred by Borrower that is subordinated to the debt owing by Borrower to Bank on terms
reasonably acceptable to Bank in its Permitted Discretion (and identified as being such by Borrower and Bank). 

“Subsidiary” means any corporation, company, or partnership in which (a) any general partnership interest or
(b) more than 50% of the stock or other units of ownership which by the terms thereof has the ordinary voting power to elect the Board of Directors, managers, or trustees of the entity, at the time as of which any determination is being made,
is owned by Borrower, either directly or through an Affiliate. 
 “Term Loan Advances” means the Term Loan Tranche 1
Advance and/or any Term Loan Tranche 2 Advances. 
 “Term Loan Interest Only End Date” means December 11, 2021;
provided however, if Borrower achieves the First Interest Only Extension Milestone, Term Loan Interest Only End Date shall mean June 11, 2022, and if Borrower achieves the Second Interest Only Extension Milestone, Term Loan Interest Only End
Date shall mean December 11, 2022. 

  
 8 

 “Term Loan Maturity Date” means December 11, 2024. 

“Term Loan Tranche 1” means a credit extension of up to Fifteen Million Dollars ($15,000,000). 

“Term Loan Tranche 1 Advance” means a cash advance as provided under Section 2.1(b)(i). 

“Term Loan Tranche 2” means a credit extension of up to Ten Million Dollars ($10,000,000). 

“Term Loan Tranche 2 Advance” means a cash advance as provided under Section 2.1(b)(ii). 

“Term Loan Tranche 2 Availability End Date” means December 31, 2020. 

“Term Loan Tranche 2 Milestone” means Borrower achieving at least Sixty Million Dollars ($60,000,000) of trailing twelve
(12) month Revenue as of or prior to the period ending August 31, 2020, as determined by Bank with reference to the financial information delivered to Bank under Section 6.3. 

“Trademarks” means any trademark and service mark rights, whether registered or not, applications to register and
registrations of the same and like protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks. 

1.2    Accounting Terms. All accounting terms not specifically defined herein shall be construed in
accordance with GAAP and all calculations made hereunder shall be made in accordance with GAAP. When used herein, the terms “financial statements” shall include the notes and schedules thereto. 

2.    LOAN AND TERMS OF
PAYMENT. 
 2.1    Credit Extensions. 

Borrower promises to pay to the order of Bank, in lawful money of the United States of America, the aggregate unpaid principal amount of all
Credit Extensions made by Bank to Borrower hereunder. Borrower shall also pay interest on the unpaid principal amount of such Credit Extensions at rates in accordance with the terms hereof. 

(a)    Formula Revolving Advances. 

(i)    Formula Revolving Line. Subject to and upon the terms and conditions of this Agreement, Borrower may
request Formula Revolving Advances in an aggregate outstanding amount not to exceed the lesser of (A) the Formula Revolving Line or (B) the Borrowing Base, minus, in each case, the Ancillary Services Usage Amount. Subject to the
terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1(a) may be repaid and reborrowed at any time prior to the Formula Revolving Line Maturity Date, interest hereunder shall be due and payable on the 11th calendar day each month during the term hereof and on the Formula Revolving Line Maturity Date, and all Formula Revolving Advances under this Section 2.1(a) shall be immediately due and payable
on the Formula Revolving Line Maturity Date. Borrower may prepay any Formula Revolving Advances without penalty or premium. 

(ii)    Advance Request Form. Whenever Borrower desires a Formula Revolving Advance, Borrower will notify
Bank no later than 12:00 p.m. Eastern time, on the Business Day that the Formula Revolving Advance is to be made. Each such notification shall be made (A) by telephone or in-person followed by
written confirmation from Borrower within 24 hours, (B) by electronic mail or facsimile transmission, or (C) by delivering to Bank a Revolving Advance Request Form in substantially the form set forth in the Client Reporting File. Bank
is authorized to make Formula Revolving Advances under this Agreement, based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank’s discretion such Formula Revolving
Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall
indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Formula Revolving Advances made under this Section 2.1(a) to Borrower’s deposit account. 

  
 9 

 (iii)    Ancillary Services Sublimit. Subject to the
terms and conditions of this Agreement and availability under the Formula Revolving Line and the Borrowing Base, at any time and from time to time from the date hereof through the Business Day immediately prior to the Formula Revolving Line Maturity
Date, Borrower may request the provision of Ancillary Services from Bank. The aggregate limit of the Ancillary Services shall not exceed the Ancillary Services Sublimit, provided that availability under the Formula Revolving Line shall be
reduced by the Ancillary Services Usage Amount. In addition, Bank may, in its sole discretion, charge as Formula Revolving Advances any amounts that become due or owing to Bank or for which Bank becomes liable in connection with the provision
of the Ancillary Services, including, without limitation, the unreimbursed amount on any drawn but unreimbursed Letter of Credit. The terms and conditions of such Ancillary Services shall be subject to the terms and conditions of Bank’s
standard forms of application and agreement for the applicable Ancillary Services, including without limitation, Bank’s form of standard application and letter of credit agreement (the “Application”), which Borrower hereby
agrees to execute. Borrower shall pay Bank’s standard fees in connection with Ancillary Services, including without limitation, Letter of Credit fees set forth in the Application and fees that Bank notifies Borrower it will be charging for
issuing and processing FX Contracts. All Letters of Credit shall be, in form and substance, acceptable to Bank in its sole discretion. The obligation of Borrower to reimburse Bank for drawings made under Letters of Credit shall be absolute,
unconditional, and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement, the Application, and such Letters of Credit, under all circumstances whatsoever. Borrower shall indemnify, defend, protect, and hold
Bank harmless from any loss, cost, expense or liability, including, without limitation, reasonable and documented out-of-pocket attorneys’ fees (each,
an “Expense”), arising out of or in connection with any Letters of Credit, except for Expenses caused by Bank’s bad faith, gross negligence or willful misconduct. 

(iv)    Collateralization of Obligations Extending Beyond Maturity. Borrower shall take such actions as
Bank may reasonably request to cause its Obligations with respect to any Ancillary Services to be secured to Bank’s satisfaction as of the Formula Revolving Line Maturity Date or as of such earlier date the Formula Revolving Line is terminated
or otherwise ceases to exist, and, effective as of such date, the balance in any of Borrower’s deposit accounts held by Bank and the certificates of deposit or time deposit accounts issued by Bank in Borrower’s name (and any interest paid
thereon or proceeds thereof, including any amounts payable upon the maturity or liquidation of such certificates or accounts) shall automatically secure such Obligations to the extent of the then continuing or outstanding Ancillary
Services. Borrower authorizes Bank to hold such balances in pledge and to decline to honor any drafts thereon or any requests by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the applicable
Ancillary Services are outstanding or continue. 
 (b)    Term Loan Advances. 

(i)    Term Loan Tranche 1. Subject to and upon the terms and conditions of this Agreement, on the Closing
Date, Bank agrees to make one (1) Term Loan Tranche 1 Advance to Borrower in an amount equal to the Term Loan Tranche 1. Interest shall accrue from the date of the Term Loan Tranche 1 Advance at the rate specified in Section 2.3, and shall
be payable monthly on the 11th day of each month so long as the Term Loan Tranche 1 Advance is outstanding. If any of the Term Loan Tranche 1 Advance is outstanding on the Term Loan Interest Only
End Date, it shall be payable in (A) thirty six (36), (B) thirty (30) (if Borrower achieves the First Interest Only Milestone), or (C) twenty four (24) (if Borrower achieves the Second Interest Only Milestone), equal monthly installments
of principal, plus all accrued interest, beginning on the date that is one (1) month after the Term Loan Interest Only End Date, and continuing on the same day of each month thereafter through the Term Loan Maturity Date, at which time
all amounts owing under this Section 2.1(b) and any other amounts owing under this Agreement shall be immediately due and payable. The Term Loan Tranche 1 Advance, once repaid, may not be reborrowed. Borrower may prepay the Term Loan Tranche 1
Advance without penalty or premium. Whenever any payment to be made hereunder shall be stated to be due on a day that is not a Business Day, such payment shall be made on the next succeeding Business Day. 

(ii)    Term Loan Tranche 2. Subject to and upon the terms and conditions of this Agreement, at any time
from the date on which Borrower achieves the Term Loan Tranche 2 Milestone through the Term Loan Tranche 2 Availability End Date, Bank agrees to make one (1) or more Term Loan Tranche 2 Advances to Borrower in an aggregate amount not to exceed
the Term Loan Tranche 2. Interest shall accrue from the date of 

  
 10 

 
each Term Loan Tranche 2 Advance at the rate specified in Section 2.3, and shall be payable monthly on the 11th day of each month so long
as any Term Loan Tranche 2 Advances are outstanding. If any Term Loan Tranche 2 Advance is outstanding on the Term Loan Interest Only End Date, it shall be payable in (A) thirty six (36), (B) thirty (30) (if Borrower achieves the First Interest
Only Milestone), or (C) twenty four (24) (if Borrower achieves the Second Interest Only Milestone), equal monthly installments of principal, plus all accrued interest, beginning on the date that is one (1) month after the Term Loan
Interest Only End Date, and continuing on the same day of each month thereafter through the Term Loan Maturity Date, at which time all amounts owing under this Section 2.1(b) and any other amounts owing under this Agreement shall be immediately
due and payable. Term Loan Tranche 2 Advances, once repaid, may not be reborrowed. Borrower may prepay any Term Loan Tranche 2 Advances without penalty or premium. Whenever any payment to be made hereunder shall be stated to be due on a day that is
not a Business Day, such payment shall be made on the next succeeding Business Day. 
 (iii)    Advance
Request Form. When Borrower desires to obtain a Term Loan Tranche 2 Advance, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail or facsimile transmission to be received no later than 12:00 p.m. Eastern time
three (3) Business Days before the day on which the Term Loan Tranche 2 Advance is to be made. Such notice shall be substantially in the form set forth in the Client Reporting File. The notice shall be signed by a Responsible Officer or its
designee. 
 2.2    Aggregate Borrowing Limit; Overadvances. At no time will the aggregate outstanding
Credit Extensions exceed the Aggregate Borrowing Limit. If (a) the aggregate amount of the outstanding Formula Revolving Advances plus the Ancillary Services Usage Amount exceeds the lesser of the Formula Revolving Line or the Borrowing
Base at any time, (b) the Ancillary Services Usage Amount exceeds the Ancillary Services Sublimit at any time, (c) the aggregate amount of the outstanding Term Loan Tranche 1 Advances plus the aggregate amount of any outstanding
Term Loan Tranche 2 Advances exceeds the Term Loan at any time, or (d) if the aggregate amount of Credit Extensions exceeds the Aggregate Borrowing Limit at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess.

 2.3    Interest Rates, Payments, and Calculations. 

(a)    Interest Rates. 

(i)    Formula Revolving Advances. Except as set forth in Section 2.3(b), the Formula Revolving
Advances shall bear interest, on the outstanding Daily Balance thereof, at a rate equal to the greater of (A) the Prime Rate or (B) five percent (5%). 

(ii)    Term Loan Advances. Except as set forth in Section 2.3(b), the Term Loan Advances shall bear
interest, on the outstanding Daily Balance thereof, at a rate equal to the greater of (A) one half of one percent (0.50%) above the Prime Rate or (B) five and one half percent (5.50%). 

(b)    Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such
payment is due, Borrower shall pay Bank a late fee equal to the lesser of (a) five percent (5%) of the amount of such unpaid amount or (b) the maximum amount permitted to be charged under applicable law, not in any case to be less than
Twenty-Five Dollars ($25.00). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately
prior to the occurrence of the Event of Default. 
 (c)    Payments. Bank shall, at its option, charge
such interest, all Bank Expenses and all Periodic Payments against any of Borrower’s deposit accounts, or against the Formula Revolving Line, in which case those amounts shall thereafter accrue interest at the rate then applicable hereunder.
Any interest not paid when due shall be compounded by becoming a part of the Obligations, and such interest shall thereafter accrue interest at the rate then applicable hereunder. Provided that Bank delivers a properly executed Internal Revenue
Service Form W-9, all payments shall be free and clear of any taxes, withholdings, duties, impositions or other charges to the end that Bank will receive the entire amount of any Obligations payable hereunder.
If any applicable law requires the deduction or withholding of any tax from any such payment, then Borrower, as the withholding agent, shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld
to the relevant governmental authority in accordance with applicable law and thereafter, the sum payable by the Borrower shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and

  
 11 

 
withholdings applicable to additional sums payable under this Section 2.3(c)) the Bank receives an amount equal to the sum it would have received had no such deduction or withholding been
made; provided, however, that Borrower shall not be required to increase any sum payable as a result of (i) any tax that is imposed on the Bank’s net income, (ii) any tax imposed as a result of a present or former connection between
the Bank and the jurisdiction imposing such tax (other than connections arising solely from Bank becoming a party to this Agreement), or (iii) any tax that results from the Bank’s failure to timely deliver a properly executed Internal
Revenue Service Form W-9 (collectively, the “Excluded Taxes”). 

(d)    Computation. In the event the Prime Rate is changed from time to time hereafter, the applicable rate
of interest hereunder shall be increased or decreased, effective as of the day the Prime Rate is changed, by an amount equal to such change in the Prime Rate. All interest chargeable under the Loan Documents shall be computed on the basis of a three
hundred sixty (360) day year for the actual number of days elapsed. 
 2.4    Crediting Payments.
Prior to the occurrence of an Event of Default, Bank shall credit a wire transfer of funds, check, or other item of payment to such deposit account or Obligation as Borrower specifies. After the occurrence and during the continuance of an Event of
Default, the receipt by Bank of any wire transfer of funds, check, or other item of payment shall be immediately applied to conditionally reduce Obligations, but shall not be considered a payment on account unless such payment is of immediately
available federal funds or unless and until such check or other item of payment is honored when presented for payment. Notwithstanding anything to the contrary contained herein, any wire transfer or payment received by Bank after 12:00 noon
Eastern time shall be deemed to have been received by Bank as of the opening of business on the immediately following Business Day. Whenever any payment to Bank under the Loan Documents would otherwise be due (except by reason of acceleration) on a
date that is not a Business Day, such payment shall instead be due on the next Business Day, and additional fees or interest, as the case may be, shall accrue and be payable for the period of such extension. 

2.5    Fees. Borrower shall pay to Bank the following: 

(a)    Facility Fee. On the Closing Date, a Facility Fee equal to Fifty Thousand Dollars ($50,000), which
shall be nonrefundable; 
 (b)    Bank Expenses. On the Closing Date, all Bank Expenses incurred through
the Closing Date, including reasonable attorneys’ fees and expenses and, after the Closing Date, all Bank Expenses, including reasonable attorneys’ fees and expenses, as and when they are incurred by Bank; and 

(c)    Final Payment Fee. On the earlier of the Term Loan Maturity Date, the prepayment of all Credit
Extensions, or the date the Obligations become due and payable, a Final Payment Fee equal to (i) One Hundred Fifty Thousand Dollars ($150,000) plus (ii) an additional amount equal to 1.00% of the aggregate amount of Term Loan
Tranche 2 Advances made during the term of this Agreement. 
 2.6    Term. This Agreement shall become
effective on the Closing Date and, subject to Section 13.7, shall continue in full force and effect for so long as any Obligations (other than inchoate indemnification Obligations) remain outstanding or Bank has any obligation to make Credit
Extensions under this Agreement. Notwithstanding the foregoing, Bank shall have the right to terminate its obligation to make Credit Extensions under this Agreement immediately and without notice upon the occurrence and during the continuance of an
Event of Default. Notwithstanding termination, Bank’s Lien on the Collateral shall remain in effect for so long as any Obligations (other than inchoate indemnification Obligations) are outstanding. Upon the payment in full, in cash, of the
Obligations (other than inchoate indemnification Obligations) and termination of Bank’s obligation to make Credit Extensions in accordance with a payoff letter reasonably acceptable to Bank, Bank shall, pursuant to such payoff letter and at
Borrower’s sole cost and expense and without any recourse, representation or warranty or any kind, release its Liens in the Collateral and all rights therein shall revert to Borrower. 

3.    CONDITIONS OF LOANS. 

3.1    Conditions Precedent to Effectiveness. The effectiveness of the Loan Documents is subject to the
condition precedent that Bank shall have received, in form and substance reasonably satisfactory to Bank, the following: 

(a)    this Agreement; 

  
 12 

 (b)    a certificate of the Secretary of Borrower with respect
to incumbency and resolutions authorizing the execution and delivery of this Agreement; 
 (c)    UCC National
Form Financing Statement; 
 (d)    a payoff letter with respect to Borrower’s Indebtedness to East West
Bank; 
 (e)    [reserved]; 

(f)    [reserved]; 

(g)    [reserved]; 

(h)    [reserved]; 

(i)    payment of the fees and Bank Expenses then due specified in Section 2.5(a) and (b) hereof; 

(j)    initial reporting which includes: (i) the information required by Section 6.3(a) herein for the
most recent month ended at least 30 days prior to the Closing Date; (ii) year-to date financial statements as of the last day of the most recent month ended at least 30 days prior to the Closing Date;
(iii) unaudited financial statements for Borrower’s most recently completed fiscal year; and (iv) such other financial information as Bank may reasonably request. 

(k)    a current Compliance Certificate in accordance with Section 6.3 herein and evidence that Borrower is
in compliance with all covenants set forth in Section 6.8 herein on a pro forma basis as of the Closing Date; 

(l)    [reserved]; 

(m)    [reserved];  

(n)    subject to Section 6.12 hereof, evidence satisfactory to Bank that the insurance policies and
endorsements required by Section 6.6 hereof are in full force and effect, together with appropriate evidence showing lender loss payable and/or additional insured clauses or endorsements in favor of Bank; 

(o)    landlord waiver for 9 Parker, Suite 100 Irvine, CA 92618; 

(p)    confirmation that Borrower is not involved in material litigation; 

(q)    the representations and warranties contained in Article 5 shall be true and correct in all material
respects on and as of Closing Date, and no Event of Default shall have occurred and be continuing, or would exist after giving effect to the closing of the Loan Documents; 

(r)    an audit of the Collateral, the results of which shall be satisfactory to Bank; and 

(s)    such other documents, and completion of such other matters, as Bank may reasonably deem necessary or
appropriate. 
 3.2    Conditions Precedent to All Credit Extensions. The obligation of Bank to make each
Credit Extension, including the initial Credit Extension, is further subject to the following conditions: 

(a)    timely receipt by Bank of the Revolving Advance Request Form as provided in Section 2.1; 

(b)    Borrower shall be in compliance with Section 6.7 hereof; 

  
 13 

 (c)    the representations and warranties contained in
Article 5 shall be true and correct in all material respects on and as of the date of such Revolving Advance Request Form and on the effective date of each Credit Extension as though made at and as of each such date, and no Event of Default
shall have occurred and be continuing, or would exist after giving effect to such Credit Extension. The making of each Credit Extension shall be deemed to be a representation and warranty by Borrower on the date of such Credit Extension as to the
accuracy of the facts referred to in this Section 3.2; and 
 (d)    Bank determines to its satisfaction
that a Material Adverse Effect has not occurred. 
 4.    CREATION OF
SECURITY INTEREST. 
 4.1    Grant of Security Interest.
Borrower grants and pledges to Bank a continuing security interest in all presently existing and hereafter acquired or arising Collateral in order to secure prompt repayment of any and all Obligations and in order to secure prompt performance by
Borrower of each of its covenants and duties under the Loan Documents. Except as set forth in the Schedule and subject to Permitted Liens that may have priority by operation of applicable law, such security interest constitutes a valid, first
priority security interest in the presently existing Collateral, and will constitute a valid, first priority security interest in Collateral acquired after the date hereof. 

4.2    Delivery of Additional Documentation Required. Borrower shall from time to time execute and deliver
to Bank, at the request of Bank, all Negotiable Collateral, all financing statements and other documents that Bank may reasonably request, in form reasonably satisfactory to Bank, to perfect and continue the perfection of Bank’s security
interests in the Collateral and in order to fully consummate all of the transactions contemplated under the Loan Documents. Borrower from time to time may deposit with Bank specific time deposit accounts to secure specific Obligations. Borrower
authorizes Bank to hold such balances in pledge and to decline to honor any drafts thereon or any request by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the Obligations are outstanding. 

4.3    Right to Inspect. Bank (through any of its officers, employees, or agents) shall have the right, upon
reasonable prior notice, from time to time during Borrower’s usual business hours but no more than twice a year (unless an Event of Default has occurred and is continuing), to inspect Borrower’s Books and to make copies thereof and to
check, test, and appraise the Collateral in order to verify Borrower’s financial condition or the amount, condition of, or any other matter relating to, the Collateral. 

4.4    Pledge of Collateral. Borrower hereby pledges, assigns and grants to Bank a security interest in all
the Shares, together with all proceeds and substitutions thereof, all cash, stock, and other moneys and property paid thereon, all rights to subscribe for securities declared or granted in connection therewith, and all other cash and noncash
proceeds of the foregoing, as security for the performance of the Obligations. On the Closing Date, the certificate or certificates (if any) for the Shares will be delivered to Bank, accompanied by an instrument of assignment duly executed in blank
by Borrower. To the extent required by the terms and conditions governing the Shares, Borrower shall cause the books of each entity whose Shares are part of the Collateral and any transfer agent to reflect the pledge of the Shares. Upon the
occurrence and during the continuance of an Event of Default hereunder, Bank may effect the transfer of any securities included in the Collateral (including but not limited to the Shares) into the name of Bank and cause new certificates representing
such securities to be issued in the name of Bank or its transferee. Borrower will execute and deliver such documents, and take or cause to be taken such actions, as Bank may reasonably request to perfect or continue the perfection of Bank’s
security interest in the Shares. Unless an Event of Default shall have occurred and be continuing, Borrower shall be entitled to exercise any voting rights with respect to the Shares and to give consents, waivers and ratifications in respect
thereof, provided that no vote shall be cast or consent, waiver, or ratification given or action taken which would be inconsistent with any of the terms of this Agreement or which would constitute or create any violation of any of such terms. All
such rights to vote and give consents, waivers and ratifications shall terminate upon the occurrence and continuance of an Event of Default 

  
 14 

 5.    REPRESENTATIONS AND
WARRANTIES. 
 Borrower represents and warrants as follows: 

5.1    Due Organization and Qualification. Borrower and each Subsidiary is a corporation or limited
liability company, as applicable, duly existing under the laws of its state of incorporation or formation, as applicable, and qualified and licensed to do business in any state in which the conduct of its business or its ownership of property
requires that it be so qualified and failure to be so qualified could reasonably be expected to result in a Material Adverse Effect. 

5.2    Due Authorization; No Conflict. The execution, delivery, and performance of the Loan Documents are
within Borrower’s powers, have been duly authorized, and are not in conflict with nor constitute a breach of any provision contained in Borrower’s Articles of Incorporation or Bylaws, nor will they constitute an event of default under any
material agreement to which Borrower is a party or by which Borrower is bound. Borrower is not in default under any material agreement to which it is a party or by which it is bound, which default could reasonably be expected to result in a Material
Adverse Effect. 
 5.3    No Prior Encumbrances. Borrower has good and marketable title to its property,
free and clear of Liens, except for Permitted Liens. 
 5.4    Eligible Accounts. The Eligible Accounts
are bona fide existing obligations. The property and services giving rise to such Eligible Accounts has been delivered or rendered to the account debtor or to the account debtor’s agent for immediate and unconditional acceptance by the account
debtor. Borrower has not received notice of actual or imminent Insolvency Proceeding of any account debtor that is included in any Borrowing Base Certificate as an Eligible Account. 

5.5    Merchantable Inventory. All Inventory is in all material respects of good and marketable quality,
free from all material defects, except for Inventory for which adequate reserves have been made. 

5.6    Intellectual Property. Borrower is the sole owner of the Intellectual Property, except for non-exclusive licenses granted by Borrower to its customers in the ordinary course of business. Each of the Patents is valid and enforceable, and no part of the Intellectual Property has been judged invalid or
unenforceable, in whole or in part, and no claim has been made that any part of the Intellectual Property violates the rights of any third party. Except as set forth in the Schedule, Borrower’s rights as a licensee of intellectual property do
not give rise to more than five percent (5%) of its gross revenue in any given month, including without limitation revenue derived from the sale, licensing, rendering or disposition of any product or service. Except as set forth in the Schedule,
Borrower is not a party to, or bound by, any agreement that restricts the grant by Borrower of a security interest in Borrower’s rights under such agreement. 

5.7    Name; Location of Chief Executive Office. Except as disclosed in the Schedule, Borrower has not done
business under any name other than that specified on the signature page hereof. The chief executive office of Borrower is located at the address indicated in Article 10 hereof. All Borrower’s Inventory and Equipment is located only at the
location set forth in Article 10 hereof, other than Inventory or Equipment that is (a) in transit or (b) at a location (i) for which Borrower has provided proper notice and otherwise complied with Section 7.10 hereof, or
(ii) that contains less than One Hundred Thousand Dollars ($100,000) in Collateral of Borrower. 

5.8    Litigation. Except as set forth in the Schedule, there are no actions or proceedings pending by or
against Borrower or any Subsidiary before any court or administrative agency in which an adverse decision could have a Material Adverse Effect, or a material adverse effect on Borrower’s interest or Bank’s security interest in the
Collateral. 
 5.9    No Material Adverse Change in Financial Statements. All consolidated financial
statements related to Borrower and any Subsidiary that Bank has received from Borrower fairly present in all material respects Borrower’s financial condition as of the date thereof and Borrower’s consolidated results of operations for the
period then ended. There has not been a material adverse change in the consolidated financial condition of Borrower since the date of the most recent of such financial statements submitted to Bank. 

  
 15 

 5.10    Solvency, Payment of Debts. Borrower is able to
pay its debts (including trade debts) as they mature; the fair saleable value of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; and Borrower is not left with unreasonably small
capital after the transactions contemplated by this Agreement. 
 5.11    Regulatory Compliance. Borrower
and each Subsidiary have met the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA, and no event has occurred resulting from Borrower’s failure to comply with ERISA that could result in
Borrower’s incurring any material liability. Borrower is not an “investment company” or a company “controlled” by an “investment company” within the meaning of the Investment Company Act of 1940. Borrower is not
engaged principally, or as one of the important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulations T and U of the Board of Governors of the Federal Reserve
System). Borrower has complied in all material respects with all the provisions of the Federal Fair Labor Standards Act. Borrower has not violated any statutes, laws, ordinances, or rules applicable to it, violation of which could have a Material
Adverse Effect. 
 5.12    Environmental Condition. Except as disclosed in the Schedule, none of
Borrower’s or any Subsidiary’s properties or assets has ever been used by Borrower or any Subsidiary or, to the best of Borrower’s knowledge, by previous owners or operators, in the disposal of, or to produce, store, handle, treat,
release, or transport, any hazardous waste or hazardous substance other than in accordance with applicable law; to the best of Borrower’s knowledge, none of Borrower’s properties or assets has ever been designated or identified in any
manner pursuant to any environmental protection statute as a hazardous waste or hazardous substance disposal site, or a candidate for closure pursuant to any environmental protection statute; no lien arising under any environmental protection
statute has attached to any revenues or to any real or personal property owned by Borrower or any Subsidiary; and neither Borrower nor any Subsidiary has received a summons, citation, notice, or directive from the Environmental Protection Agency or
any other federal, state, or other governmental agency concerning any action or omission by Borrower or any Subsidiary resulting in the releasing, or otherwise disposing of hazardous waste or hazardous substances into the environment. 

5.13    Taxes. Borrower and each Subsidiary have filed or caused to be filed all material tax returns
required to be filed, and have paid, or have made adequate provision for the payment of, all material taxes reflected therein, in each case except as permitted under Section 6.5. 

5.14    Subsidiaries. Borrower does not own any stock, partnership interest, or other equity securities of
any Person, except for Permitted Investments and New Subsidiaries with which Borrower has complied with Section 6.10 herein. 

5.15    Government Consents. Borrower and each Subsidiary have obtained all consents, approvals, and
authorizations of, made all declarations or filings with, and given all notices to, all governmental authorities that are necessary for the continued operation of Borrower’s business as currently conducted, except where the failure to do so
would not reasonably be expected to cause a Material Adverse Effect. 
 5.16    Accounts. Except for
accounts permitted to be maintained by Section 6.7 and with respect to which Bank has a control agreement in form and substance reasonably satisfactory to Bank (unless such a control agreement is not required under Section 7.7), none of
Borrower’s nor any Subsidiary’s Investment Collateral (other than de minimis amounts) is maintained or invested with a Person other than Bank. 

5.17    Shares. Borrower has full power and authority to create a first lien on the Shares and no disability
or contractual obligation exists that would prohibit Borrower from pledging the Shares pursuant to this Agreement. To Borrower’s knowledge, there are no subscriptions, warrants, rights of first refusal, or other restrictions on transfer
relative to, or options exercisable with respect to the Shares. The Shares have been and will be duly authorized and validly issued, and are fully paid and non-assessable. To Borrower’s knowledge, the
Shares are not the subject of any present or threatened suit, action, arbitration, administrative or other proceeding, and Borrower knows of no reasonable grounds for the institution of any such proceedings. 

5.18    Full Disclosure; No Material Adverse Effect. No representation, warranty, or other statement made by
Borrower in any certificate or written statement furnished to Bank contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained in such

  
 16 

 
certificates or statements not misleading, it being recognized by the Bank that projections and forecasts provided by the Borrower are not viewed as facts, and actual results may differ for
projected as forecasted results. A Material Adverse Effect has not occurred since the date of the most recent audited financial statement submitted to Bank. 

6.    AFFIRMATIVE COVENANTS. 

Borrower shall do all of the following: 

6.1    Good Standing. Borrower shall maintain its and each of its Subsidiaries’ corporate existence and
good standing in its jurisdiction of incorporation and maintain qualification in each jurisdiction in which it is required under applicable law and where failure to so qualify would reasonably be expected to result in a Material Adverse Effect.
Borrower shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals, and agreements, the loss of which could have a Material Adverse Effect. 

6.2    Government Compliance. Borrower shall meet, and shall cause each Subsidiary to meet, the minimum
funding requirements of ERISA with respect to any employee benefit plans subject to ERISA, noncompliance with which could have a Material Adverse Effect. Borrower shall comply, and shall cause each Subsidiary to comply, with all statutes, laws,
ordinances, and government rules and regulations to which it is subject, noncompliance with which could have a Material Adverse Effect. 

6.3    Financial Statements, Reports, Certificates. Borrower shall deliver the following to Bank:
(a) as soon as available, but in any event within thirty (30) days after the end of each calendar month, a company prepared consolidated balance sheet, income statement, and cash flow statement covering Borrower’s consolidated
operations during such period, prepared in accordance with GAAP, consistently applied, in a form reasonably acceptable to Bank (it being agreed that any financial statements substantially in the form previously delivered on or prior to the Closing
Date are reasonably acceptable to Bank) and certified by a Responsible Officer; (b) as soon as available, but in any event within one hundred eighty (180) days after the end of Borrower’s fiscal year, audited consolidated financial
statements of Borrower prepared in accordance with GAAP, consistently applied, together with an unqualified opinion on such financial statements of an independent certified public accounting firm reasonably acceptable to Bank (it being understood
that the existing accounting firm of the Borrower and other nationally recognized accounting firms are reasonably acceptable to Bank) (or an opinion qualified for going concern so long as (i) Borrower’s investors provide additional equity
as needed or (ii) such qualification exists due to a pending maturity under this Agreement); (c) copies of all statements, reports, and notices sent or made available generally by Borrower to its security holders or to any holders of
Subordinated Debt and, if applicable, all reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission; (d) promptly upon receipt of notice
thereof, a report of any legal actions pending or threatened against Borrower or any Subsidiary that could result in damages or costs to Borrower or any Subsidiary of Five Hundred Thousand Dollars ($500,000) or more; (e) as soon as available,
but in any event within thirty (30) days after the end of each fiscal year of Borrower, (i) annual operating budgets (including income statements, balance sheets, and cash flow statements, by month) for the upcoming fiscal year of
Borrower, and (ii) annual financial projections for the following fiscal year as approved by Borrower’s board of directors, together with any related business forecasts used in the preparation of such annual financial projections; and
(f) such budgets, sales projections, operating plans or other financial information as Bank may reasonably request from time to time. 

Within thirty (30) days after the last day of each month, Borrower shall deliver to Bank a Borrowing Base Certificate signed by a
Responsible Officer in substantially the form set forth in the Client Reporting File, together with aged listings of accounts receivable and accounts payable. 

Borrower shall deliver to Bank with the monthly financial statements a Compliance Certificate signed by a Responsible Officer in substantially
the form set forth in the Client Reporting File. 
 Bank shall have a right from time to time hereafter to audit Borrower’s Accounts
and appraise Collateral at Borrower’s expense, provided that such audits will be conducted no more often than every six (6) months unless an Event of Default has occurred and is continuing. 

6.4    Inventory; Returns. Borrower shall keep all Inventory in good and marketable condition, free from all
material defects except for Inventory for which adequate reserves have been made. Returns and allowances, if any, as between Borrower and its account debtors shall be on the same basis and in accordance with the

  
 17 

 
usual customary practices of Borrower, as they exist at the time of the execution and delivery of this Agreement. Borrower shall promptly notify Bank of all returns and recoveries and of all
disputes and claims, where the return, recovery, dispute, or claim involves more than Two Hundred Fifty Thousand Dollars ($250,000). 

6.5    Taxes. Borrower shall make, and shall cause each Subsidiary to make, due and timely payment or
deposit of all material federal, state, and local taxes, assessments, or contributions required of it by law, and will execute and deliver to Bank, on demand, appropriate certificates attesting to the payment or deposit thereof; and Borrower will
make, and will cause each Subsidiary to make, timely payment or deposit of all material tax payments and withholding taxes required of it by applicable laws, including, but not limited to, those laws concerning F.I.C.A., F.U.T.A., state disability,
and local, state, and federal income taxes, and will, upon request, furnish Bank with proof satisfactory to Bank indicating that Borrower or a Subsidiary has made such payments or deposits; provided that Borrower or a Subsidiary need not make any
payment if the amount or validity of such payment is contested in good faith by appropriate proceedings and is reserved against (to the extent required by GAAP) by Borrower. 

6.6    Insurance. 

(a)    Borrower, at its expense, shall keep the Collateral insured against loss or damage by fire, theft,
explosion, sprinklers, and all other hazards and risks, and in such amounts, as ordinarily insured against by other owners in similar businesses conducted in the locations where Borrower’s business is conducted on the date hereof. Borrower
shall also maintain insurance relating to Borrower’s business, ownership, and use of the Collateral in amounts and of a type that are customary to businesses similar to Borrower’s. 

(b)    All such policies of insurance shall be in such form, with such companies, and in such amounts as are
reasonably satisfactory to Bank. All such policies of property insurance shall contain a lender’s loss payable endorsement, in a form satisfactory to Bank, showing Bank as an additional lender’s loss payee thereof, and all liability
insurance policies shall show Bank as an additional insured and shall specify that the insurer must give at least thirty (30) days’ notice to Bank before canceling its policy for any reason, or ten (10) days’ notice if such
cancellation is for non-payment of premium. Upon Bank’s request, Borrower shall deliver to Bank certified copies of such policies of insurance and evidence of the payments of all premiums therefor. All
proceeds payable under any such policy shall, at the option of Bank, be payable to Bank to be applied on account of the Obligations. 

6.7    Accounts. On or after the date that is two (2) Business Days from the Closing Date, or such
later date as Bank may reasonably agree, and through the date that is sixty (60) days after the Closing Date, Borrower shall maintain at least seventy-five percent (75%) of all its cash at Bank. From and after the date that is sixty
(60) days after the Closing Date, or such later date as Bank may reasonably agree, Borrower shall (a) endeavor to maintain and shall cause each of its Subsidiaries to endeavor to maintain all its depository and operating accounts, and its
primary investment accounts (other than Excluded Accounts) with Bank and (b) endeavor to utilize and shall cause each of its Subsidiaries to endeavor to utilize Bank’s International Banking Division for any international banking services
required by Borrower, including, but not limited to, foreign currency wires, hedges, swaps, FX Contracts, and Letters of Credit; provided, that, in each case, if Borrower has requested and Bank is either unable or has refused to provide a particular
service, Borrower shall have no obligation to use Bank for such service and Borrower shall not be required to comply with this Section 6.7 with respect to such service (and may use another provider for such service so long as Borrower is
otherwise permitted to do so under this Agreement) so long as Borrower continues to maintain its primary deposit, operating and investment accounts with Bank. 

6.8    Financial Covenants. Borrower shall at all times maintain the following financial ratios and
covenants: 
 (a)    Minimum Revenue. Measured monthly and calculated on a trailing twelve
(12) month basis, Borrower shall achieve minimum Revenue of at least the amounts shown in the table immediately below for the corresponding reporting periods. For subsequent reporting periods, Bank and Borrower hereby agree that Bank and
Borrower shall, beginning on February 15, 2021 and continuing on February 15th of each year thereafter during the term of this Agreement, use the forecast delivered by Borrower to Bank
pursuant to Section 6.3 to mutually determine the minimum Revenue amounts for such year (so long as such forecast is reasonably acceptable to Bank). 

  
 18 

					
	 Reporting Period Ending
	  	Minimum Trailing Twelve Month
Revenue for Such Period	 
	 December 31, 2019
	  	$	40,000,000	 
	 January 31, 2020
	  	$	42,500,000	 
	 February 29, 2020
	  	$	44,500,000	 
	 March 31, 2020
	  	$	46,000,000	 
	 April 30, 2020
	  	$	48,000,000	 
	 May 31, 2020
	  	$	49,000,000	 
	 June 30, 2020
	  	$	50,000,000	 
	 July 31, 2020
	  	$	51,000,000	 
	 August 31, 2020
	  	$	52,500,000	 
	 September 30, 2020
	  	$	54,000,000	 
	 October 31, 2020
	  	$	56,000,000	 
	 November 30, 2020
	  	$	58,000,000	 
	 December 31, 2020
	  	$	60,000,000	 

 6.9    [Reserved]. 

6.10    Creation/Acquisition of Subsidiaries. In the event that Borrower or any Subsidiary that is a co-borrower hereunder or a secured guarantor of the Obligations of Borrower creates or acquires any Subsidiary, Borrower or such Subsidiary shall promptly notify Bank of such creation or acquisition, and Borrower or
such Subsidiary shall take all actions reasonably requested by Bank to achieve any of the following with respect to such “New Subsidiary” (defined as a Subsidiary formed after the date hereof during the term of this Agreement): (a)
to cause such New Subsidiary, if such New Subsidiary is not a CFC, to become either a co-borrower hereunder or a secured guarantor with respect to the Obligations, and (b) to grant and pledge to Bank a
perfected security interest in the Shares held by Borrower or such Subsidiary of any such New Subsidiary (to the extent that such Shares constitute Collateral). 

6.11    Further Assurances. At any time and from time to time Borrower shall execute and deliver such
further instruments and take such further action as may reasonably be requested by Bank to effect the purposes of this Agreement. 

6.12    Post-Closing. Borrower shall deliver insurance endorsements required by Section 6.6 hereof to
Bank within forty-five (45) days of the Closing Date, or such later date as Bank may reasonably agree. 

7.    NEGATIVE COVENANTS. 

Borrower will not do any of the following: 

7.1    Dispositions. Convey, sell, lease, transfer, or otherwise dispose of (collectively, a
“Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, other than: (a) Transfers of Inventory in the ordinary course of business; (b) Transfers of non-exclusive licenses and similar arrangements for the use of the property of Borrower or its Subsidiaries in the ordinary course of business; (c) Transfers of worn-out,
surplus or obsolete Equipment which was not financed by Bank; (d) Transfers in connection with Permitted Liens or Permitted Investments; (e) Transfers of cash and cash equivalents in connection with transactions not prohibited hereunder;
(f) Transfers from one Loan Party to another Loan Party; and (g) Transfers of other assets for fair market value not to exceed Five Hundred Thousand Dollars ($500,000) in the aggregate. 

7.2    Change in Business; Change in Control or Executive Office. Engage in any business, or permit any of
its Subsidiaries to engage in any business, other than the businesses currently engaged in by Borrower and any business substantially similar or related thereto (or incidental thereto); or cease to conduct business in the manner conducted by
Borrower as of the Closing Date; or suffer or permit a Change in Control; or without thirty (30) days prior written notification to Bank, relocate its chief executive office or state of incorporation or change its legal name; or without
Bank’s prior written consent, change the date on which its fiscal year ends. 

  
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 7.3    Mergers or Acquisitions. Merge or consolidate, or
permit any of its Subsidiaries to merge or consolidate, with or into any other business organization, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person except
(a) any Subsidiary may merge with or consolidate with or into Borrower or any Loan Party, provided that Borrower or such Loan Party shall be the continuing or surviving entity, and (b) any Subsidiary that is not a Loan Party may merge with
or consolidate with or into another Subsidiary that is not a Loan Party. 
 7.4    Indebtedness. Create,
incur, assume, or be or remain liable with respect to any Indebtedness, or permit any Subsidiary so to do, other than Permitted Indebtedness. 

7.5    Encumbrances. Create, incur, assume or suffer to exist any Lien with respect to any of its property
(including without limitation its Intellectual Property) or assign or otherwise convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or agree with any Person
other than Bank not to grant a security interest in, or otherwise encumber, any of its property (including without limitation its Intellectual Property), or permit any Subsidiary to do so, except for (a) with respect to any Permitted
Indebtedness described in clause (c) or (h) of the definition thereof, provided that such agreement relates solely to the property that is financed by such Indebtedness, (b) an agreement prohibiting only the creation
of liens securing Indebtedness that is subordinated to the Obligations, and (c) customary anti-assignment and anti-licensing provisions in contracts or licenses restricting the assignment or licensing thereof. 

7.6    Distributions. Pay any dividends or make any other distribution or payment on account of or in
redemption, retirement, or purchase of any capital stock, or permit any of its Subsidiaries to do so, except that Borrower may (a) repurchase the stock of former employees, officers, managers or consultants pursuant to stock repurchase
agreements as long as an Event of Default does not exist prior to such repurchase or would not exist after giving effect to such repurchase, and (b) with respect to equity compensation awards granted to any current or former directors,
employees, officers, managers, consultants, independent contractors or other service providers, (i) withhold Shares to satisfy any applicable withholding tax obligations, and (ii) on a cashless basis, withhold Shares to satisfy any
applicable exercise or purchase price. 
 7.7    Investments. Directly or indirectly acquire or own, or
make any Investment in or to any Person, or permit any of its Subsidiaries so to do, other than Permitted Investments; or maintain or invest any of its Investment Collateral (other than de minimis amounts) with a Person other than Bank or permit any
of its Subsidiaries to do so, unless such Person has entered into an account control agreement with Bank in form and substance satisfactory to Bank (provided that an account control will not be required for (a) Excluded Accounts,
(b) Borrower’s other accounts for the first ten (10) Business Days after the Closing Date (or such longer period as Bank may reasonably agree) or (c) Borrower’s other accounts after the date that is ten (10) Business
Days from the Closing Date (or such later date as set forth in the foregoing clause (b)), and through the date that is sixty (60) days after the Closing Date (or such later date as Bank may reasonably agree) with respect to the 25% of
Borrower’s cash permitted to be kept outside Bank during such period); or suffer or permit any Subsidiary to be a party to, or be bound by, an agreement that restricts such Subsidiary from paying dividends or otherwise distributing property to
Borrower. 
 7.8    Transactions with Affiliates. Directly or indirectly enter into or permit to exist any
material transaction with any Affiliate of Borrower except for (a) as set forth on the Schedule, (b) transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable to
Borrower than would be obtained in an arm’s length transaction with a non-affiliated Person, (c) Subordinated Debt or equity investments by Borrower’s investors in Borrower or its Subsidiaries
otherwise permitted under this Agreement, (d) reasonable and customary compensation and benefit arrangements (including the granting of options or other equity compensation arrangements) and any reasonable and customary indemnification
arrangements with employees, officers, managers or consultants approved by, or pursuant to, any plan approved by the Board of Director of Borrower, and (e) distributions permitted pursuant to Section 7.6 hereof. Without the prior written
consent of Bank in its sole and absolute discretion, no part of the proceeds of the Credit Extensions may be used (w) to purchase any asset or securities (i) issued by an Reg W Affiliate of Bank, (ii) in respect of which, and during
any period when, any Reg W Affiliate of Bank has acted as an underwriter, (iii) sold by any Reg W Affiliate of Bank acting as a principal, (iv) if the transaction would otherwise result in a violation of Regulation W issued by the Board of
Governors of the Federal Reserve System of the United States, as may be amended from time to time, or (v) if the transaction would not comply with 12 C.F.R. 223.16; (x) to pay, in whole or in part, directly or indirectly, any loan made by any
Reg W Affiliate of Bank; or (y) for the benefit of, or to transfer such proceeds to, any Reg W Affiliate of Bank. 

  
 20 

 7.9    Subordinated Debt. Make any payment in respect of
any Subordinated Debt, or permit any of its Subsidiaries to make any such payment, except in compliance with the terms of such Subordinated Debt, or amend any provision contained in any documentation relating to the Subordinated Debt without
Bank’s prior written consent. 
 7.10    Inventory and Equipment. Store Inventory or the Equipment in
excess of One Hundred Thousand Dollars ($100,000) with a bailee, warehouseman, or other third party unless the third party has been notified of Bank’s security interest and Bank (a) has received an acknowledgment from the third party that
it is holding or will hold the Inventory or Equipment for Bank’s benefit or (b) is in pledge possession of the warehouse receipt, where negotiable, covering such Inventory or Equipment, in each case, other than Inventory or Equipment that
it is transit. Store or maintain any Equipment or Inventory at any leased location where Collateral is in excess of One Hundred Thousand Dollars ($100,000), unless the landlord has been notified of the Bank’s security interest and Bank has
received a landlord waiver in form and substance satisfactory to Bank, duly executed by Borrower and such landlord. 

7.11    Compliance. Become an “investment company” or be controlled by an “investment
company,” within the meaning of the Investment Company Act of 1940, or become principally engaged in, or undertake as one of its important activities, the business of extending credit for the purpose of purchasing or carrying margin stock, or
use the proceeds of any Credit Extension for such purpose. Fail to meet the minimum funding requirements of ERISA, permit a Reportable Event or Prohibited Transaction, as defined in ERISA, to occur, fail to comply with the Federal Fair Labor
Standards Act, or violate any law or regulation, which could have a Material Adverse Effect, or a material adverse effect on the Collateral or the priority of Bank’s Lien on the Collateral, or permit any of its Subsidiaries to do any of the
foregoing. 
 8.    EVENTS OF DEFAULT. 

Any one (1) or more of the following events shall constitute an event of default by Borrower under this Agreement (each an “Event
of Default”). 
 8.1    Payment Default. If Borrower fails to pay, when due, any of the
Obligations; 
 8.2    Covenant Default. 

(a)    If Borrower fails to perform any obligation under Sections 6.3, 6.5, 6.6, 6.7, 6.8, or 6.10 or violates any
of the covenants contained in Article 7 of this Agreement; or 
 (b)    If Borrower fails or neglects to perform
or observe any obligation under Article 6 (other than Section 6.3, 6.5, 6.6, 6.7, 6.8, and 6.10, which are addressed in clause (a) above) or any other material term, provision, condition, covenant contained in this Agreement, in any of the
Loan Documents, or in any other present or future agreement between Borrower and Bank (other than any such failure which is addressed in clause (a) above) and as to any default under such other term, provision, condition or covenant that can be
cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten
(10) day period or cannot after diligent attempts by Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall
not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made. 

8.3    Material Adverse Effect. If there occurs any circumstance or circumstances that could reasonably be
expected to have a Material Adverse Effect. 
 8.4    Attachment. If any portion of Borrower’s assets
is attached, seized, subjected to a writ or distress warrant, or is levied upon, or comes into the possession of any trustee, receiver, or person acting in a similar capacity and such attachment, seizure, writ or distress warrant, or levy has not
been removed, discharged or rescinded within ten (10) days, or if Borrower is enjoined, restrained, or in any way prevented by court order from continuing to conduct all or any material part of its business affairs, or if a judgment or other
claim becomes a lien or encumbrance upon any material portion of Borrower’s assets, or if a notice of lien, levy, or assessment is filed of record with respect to any of Borrower’s assets by the United States Government, or any department,
agency, or instrumentality thereof, 

  
 21 

 
or by any state, county, municipal, or governmental agency, and the same is not paid within ten (10) days after Borrower receives notice thereof, provided that none of the foregoing shall
constitute an Event of Default where such action or event is stayed or an adequate bond has been posted pending a good faith contest by Borrower (provided that no Credit Extensions will be required to be made during such cure period); 

8.5    Insolvency. If Borrower becomes insolvent, or if an Insolvency Proceeding is commenced by Borrower,
or if an Insolvency Proceeding is commenced against Borrower and is not dismissed or stayed within thirty (30) days (provided that no Credit Extensions will be made prior to the dismissal of such Insolvency Proceeding); 

8.6    Other Agreements. If there is a default or other failure to perform in any agreement to which
Borrower is a party or by which it is bound resulting in a right by a third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount in excess of Five Hundred Thousand Dollars ($500,000) or which could
have a Material Adverse Effect; 
 8.7    Judgments. If a judgment or judgments for the payment of money
in an amount, individually or in the aggregate, of at least Five Hundred Thousand Dollars ($500,000) shall be rendered against Borrower and shall remain unsatisfied and unstayed for a period of ten (10) days (provided that no Credit Extensions
will be made prior to the satisfaction or stay of such judgment); 
 8.8    Misrepresentations. If any
material misrepresentation or material misstatement exists now or hereafter in any warranty or representation set forth herein or in any certificate delivered to Bank by any Responsible Officer pursuant to this Agreement or to induce Bank to enter
into this Agreement or any other Loan Document; or 
 8.9    Guaranty. If any guaranty of all or a
portion of the Obligations (a “Guaranty”) ceases for any reason to be in full force and effect, or any guarantor fails to perform any material obligation under any Guaranty or a security agreement securing any Guaranty
(collectively, the “Guaranty Documents”), or any event of default occurs under any Guaranty Document, or any guarantor revokes or purports to revoke a Guaranty, or any material misrepresentation or material misstatement by a
guarantor exists now or hereafter in any warranty or representation set forth in any Guaranty Document or in any certificate delivered to Bank in connection with any Guaranty Document, or if any of the circumstances described in Sections 8.3 through
8.8 occur with respect to any guarantor or any guarantor dies or becomes subject to any criminal prosecution, or any circumstances arise causing Bank, in good faith, to become insecure as to the satisfaction of any of any guarantor’s
obligations under the Guaranty Documents. 
 9.    BANK’S
RIGHTS AND REMEDIES. 
 9.1    Rights and
Remedies. Upon the occurrence and during the continuance of an Event of Default, Bank may, at its election, without notice of its election and without demand, do any one (1) or more of the following, all of which are authorized by Borrower:

 (a)    Declare all Obligations, whether evidenced by this Agreement, by any of the other Loan Documents, or
otherwise, immediately due and payable (provided that upon the occurrence of an Event of Default described in Section 8.5, all Obligations shall become immediately due and payable without any action by Bank); 

(b)    Cease advancing money or extending credit to or for the benefit of Borrower under this Agreement or under
any other agreement between Borrower and Bank; 
 (c)    Settle or adjust disputes and claims directly with
account debtors for amounts, upon terms, and in whatever order that Bank reasonably considers advisable; 

(d)    Make such payments and do such acts as Bank considers necessary or reasonable to protect its security
interest in the Collateral. Borrower agrees to assemble the Collateral if Bank so requires, and to make the Collateral available to Bank as Bank may designate. Borrower authorizes Bank to enter the premises where the Collateral is located, to take
and maintain possession of the Collateral, or any part of it, and to pay, purchase, 

  
 22 

 
contest, or compromise any encumbrance, charge, or lien which in Bank’s determination appears to be prior or superior to its security interest and to pay all expenses incurred in connection
therewith. With respect to any of Borrower’s owned premises, Borrower hereby grants Bank a license to enter into possession of such premises and to occupy the same, without charge, in order to exercise any of Bank’s rights or remedies
provided herein, at law, in equity, or otherwise; 
 (e)    Set off and apply to the Obligations any and all
(i) balances and deposits of Borrower held by Bank, or (ii) indebtedness at any time owing to or for the credit or the account of Borrower held by Bank; 

(f)    Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell (in
the manner provided for herein) the Collateral. Bank is hereby granted a license or other right, solely pursuant to the provisions of this Section 9.1, to use, without charge, Borrower’s labels, patents, copyrights, rights of use of any
name, trade secrets, trade names, trademarks, service marks, and advertising matter, or any property of a similar nature, as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in
connection with Bank’s exercise of its rights under this Section 9.1, Borrower’s rights under all licenses and all franchise agreements shall inure to Bank’s benefit; 

(g)    Dispose of the Collateral by way of one (1) or more contracts or transactions, for cash or on terms,
in such manner, and at such places (including Borrower’s premises) as Bank determines is commercially reasonable, and apply any proceeds to the Obligations in whatever manner or order Bank deems appropriate; 

(h)    Bank may credit bid and purchase at any public sale; and 

(i)    Any deficiency that exists after disposition of the Collateral as provided above will be paid immediately
by Borrower. 
 9.2    Power of Attorney. Effective only upon the occurrence and during the
continuance of an Event of Default, Borrower hereby irrevocably appoints Bank (and any of Bank’s designated officers, or employees) as Borrower’s true and lawful attorney to: (a) send requests for verification of Accounts or notify
account debtors of Bank’s security interest in the Accounts; (b) endorse Borrower’s name on any checks or other forms of payment or security that may come into Bank’s possession; (c) sign Borrower’s name on any invoice
or bill of lading relating to any Account, drafts against account debtors, schedules and assignments of Accounts, verifications of Accounts, and notices to account debtors; (d) dispose of any Collateral; (e) make, settle, and adjust all
claims under and decisions with respect to Borrower’s policies of insurance; and (f) settle and adjust disputes and claims respecting the accounts directly with account debtors, for amounts and upon terms which Bank determines to be
reasonable. In addition, Borrower hereby irrevocably appoints Bank (and any of Bank’s designated officers, or employees) to file, in its sole discretion, one (1) or more financing or continuation statements and amendments thereto, relative
to any of the Collateral. The appointment of Bank as Borrower’s attorney in fact, and each and every one of Bank’s rights and powers, being coupled with an interest, is irrevocable until all of the Obligations (other than inchoate
indemnification Obligations) have been fully repaid and performed and Bank’s obligation to provide Credit Extensions hereunder is terminated. 

9.3    Accounts Collection. At any time after the occurrence of an Event of Default that is continuing, Bank
may notify any Person owing funds to Borrower of Bank’s security interest in such funds and verify the amount of such Account. At any time after the occurrence of an Event of Default that is continuing, Borrower shall collect all amounts owing
to Borrower for Bank, receive in trust all payments as Bank’s trustee, and immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit. 

9.4    Bank Expenses. If Borrower fails to pay any amounts or furnish any required proof of payment due to
third persons or entities, as required under the terms of this Agreement, then Bank may in the exercise of its Permitted Discretion do any or all of the following after reasonable notice to Borrower: (a) make payment of the same or any part
thereof; (b) set up such reserves under a loan facility in Section 2.1 as Bank deems necessary to protect Bank from the exposure created by such failure; or (c) obtain and maintain insurance policies of the type discussed in
Section 6.6 of this Agreement, and take any action with respect to such policies as Bank deems prudent. 

  
 23 

 
Any amounts so paid or deposited by Bank shall constitute Bank Expenses, shall be immediately due and payable, and shall bear interest at the then applicable rate hereinabove provided, and shall
be secured by the Collateral. Any payments made by Bank shall not constitute an agreement by Bank to make similar payments in the future or a waiver by Bank of any Event of Default under this Agreement. 

9.5    Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices,
including Section 9-207 of the Code, Bank shall not in any way or manner be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage thereto occurring or arising
in any manner or fashion from any cause; (c) any diminution in the value thereof; or (d) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person whomsoever. All risk of loss, damage, or destruction of
the Collateral shall be borne by Borrower. 
 9.6    Remedies Cumulative. Bank’s rights and remedies
under this Agreement, the Loan Documents, and all other agreements shall be cumulative. Bank shall have all other rights and remedies not inconsistent herewith as provided under the Code, by law, or in equity. No exercise by Bank of one right or
remedy shall be deemed an election, and no waiver by Bank of any Event of Default on Borrower’s part shall be deemed a continuing waiver. No delay by Bank shall constitute a waiver, election, or acquiescence by it. No waiver by Bank shall be
effective unless made in a written document signed on behalf of Bank and then shall be effective only in the specific instance and for the specific purpose for which it was given. 

9.7    Demand; Protest. Borrower waives demand, protest, notice of protest, notice of default or dishonor,
notice of payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees at any time held by Bank on which Borrower may
in any way be liable. 
 10.    NOTICES. All notices, consents, requests,
approvals, demands, or other communication by any party to this Agreement or any other Loan Document must be in writing and shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of actual receipt and three
(3) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt requested, with proper postage prepaid; (b) upon transmission, when sent by electronic mail or facsimile transmission; (c) one
(1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or (d) when delivered, if hand-delivered by messenger, all of which shall be addressed to the party to be notified and sent to the address, facsimile
number, or email address indicated below. Bank or Borrower may change its mailing or electronic mail address or facsimile number by giving the other party written notice thereof in accordance with the terms of this Article 10. 

 

			
	If to Borrower:	  	 INARI MEDICAL, INC.

9 Parker suite 100
 Irvine, CA 92618

Attn: Mitch Hill

TEL: (949) 600-8433

EMAIL: mitchh@inarimedical.com

		
	If to Bank:	  	 SIGNATURE BANK
 Signature Bank-Venture Banking
Group
 565 Fifth Avenue
 New York, NY 10017

Attn: Justin McDonie
 EMAIL:
jmcdonie@signatureNY.com

 The parties hereto may change the address at which they are to receive notices hereunder, by notice in
writing in the foregoing manner given to the other. 
 11.    GOVERNING
LAW. This Agreement shall be deemed to have been made under and shall be governed by the laws of the State of New York (without regard to choice of law principles except as set forth in Section 5-1401 of the New York General Obligations Law) in all respects, including matters of construction, validity, and performance, and that none of its terms or provisions may be waived, altered, modified,
or amended except as Bank may consent thereto in writing duly signed for and on its behalf. 

  
 24 

 12.    JURISDICTION AND
JURY TRIAL WAIVER. 
 12.1    Borrower hereby
irrevocably consents that any suit, legal action, or proceeding against Borrower or any of its properties with respect to any of the rights or obligations arising directly or indirectly under or relating to this Agreement or any other Loan Document
may be brought in any jurisdiction, including, without limitation, any New York State or United States Federal Court located in the Southern District of New York, as Bank may elect, and by execution and delivery of this Agreement, Borrower hereby
irrevocably submits to and accepts with regard to any such suit, legal action, or proceeding, for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. Borrower hereby irrevocably consents to
the service of process in any such suit, legal action, or proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, return receipt requested, to Borrower at its address set forth herein. The foregoing shall not
limit the right of Bank to serve process in any other manner permitted by law or to bring any suit, legal action or proceeding or to obtain execution of judgment in any other jurisdiction. 

12.2    Borrower hereby irrevocably waives any objection which Borrower may now or hereafter have to the laying of
venue of any suit, legal action, or proceeding arising directly or indirectly under or relating to this Agreement or any other Loan Document in any state or federal court located in any jurisdiction, including without limitation, any state or
federal court located in the Southern District of New York chosen by Bank in accordance with this Article 12 and hereby further irrevocably waives any claim that a court located in the Southern District of New York is not a convenient forum for any
such suit, legal action, or proceeding. 
 12.3    Borrower hereby irrevocably agrees that any suit, legal action
or proceeding commenced by Borrower with respect to any rights or obligations arising directly or indirectly under or relating to this Agreement or any other Loan Document (except as expressly set forth therein to the contrary) shall be brought
exclusively in any New York State or United States Federal Court located in the Southern District of New York. 

12.4    Borrower hereby waives any defense or claim based on marshaling of assets or election or remedies or
guaranties. 
 12.5    Borrower and Bank (by its acceptance of this Agreement) hereby irrevocably waive all right
to trial by jury in any action, proceeding, or counterclaim arising out of or relating to any obligation of Borrower or this Agreement or any other Loan Document. 

13.    GENERAL PROVISIONS. 

13.1    Successors and Assigns. This Agreement shall bind and inure to the benefit of the respective
successors and permitted assigns of each of the parties; provided, however, that neither this Agreement nor any rights hereunder may be assigned by Borrower without Bank’s prior written consent, which consent may be granted or withheld in
Bank’s sole discretion. Bank shall have the right without the consent of or notice to Borrower to sell, transfer, negotiate, or grant participation in all or any part of, or any interest in, Bank’s obligations, rights and benefits
hereunder; provided, however, that any assignee shall be subject to the provisions of Section 2.3(c), and shall not be entitled to receive any greater payment under Section 2.3(c) than Bank would have been entitled to receive.
Notwithstanding anything to the contrary contained herein, so long as no Event of Default has occurred and is continuing, Bank may not make an assignment, without Borrower’s consent, to any direct competitor (whether as an operating company or
direct or indirect parent with voting control over such operating company) of Borrower that Borrower has identified in prior writing to Bank, or to a vulture fund or distressed debt fund. 

13.2    Indemnification. Borrower shall defend, indemnify, and hold harmless Bank and its officers,
employees, and agents against: (a) all obligations, demands, claims, and liabilities claimed or asserted by any other party in connection with the transactions contemplated by this Agreement; and (b) all losses or Bank Expenses in any way
suffered, incurred, or paid by Bank as a result of or in any way arising out of, following, or consequential to transactions between Bank and Borrower whether under this Agreement, or otherwise (including without limitation reasonable and documented
out of pocket attorneys’ fees and expenses), except for losses caused by Bank’s gross negligence or willful misconduct. For the avoidance of doubt, Borrower shall not be required to indemnify Bank for Excluded Taxes. 

  
 25 

 13.3    Time of Essence. Time is of the essence for the
performance of all obligations set forth in this Agreement. 
 13.4    Severability of Provisions. Each
provision of this Agreement shall be severable from every other provision of this Agreement for the purpose of determining the legal enforceability of any specific provision. 

13.5    Amendments in Writing; Integration. Neither this Agreement nor the Loan Documents can be amended or
terminated orally. All prior agreements, understandings, representations, warranties, and negotiations between the parties hereto with respect to the subject matter of this Agreement and the Loan Documents, if any, are merged into this Agreement and
the Loan Documents. 
 13.6    Counterparts/Acceptance. This Agreement may be executed in any number of
counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Agreement. Bank hereby
acknowledges and agrees that this Agreement has been executed and accepted by Bank in the State of New York. 

13.7    Survival. All covenants, representations, and warranties made in this Agreement shall
continue in full force and effect so long as any Obligations (other than inchoate indemnification Obligations) remain outstanding or Bank has any obligation to make Credit Extensions to Borrower. The obligations of Borrower to indemnify Bank with
respect to the expenses, damages, losses, costs, and liabilities described in Section 13.2 shall survive until all applicable statute of limitations periods with respect to actions that may be brought against Bank have run. 

13.8    Confidentiality. In handling any confidential information Bank and all employees and agents of Bank,
including but not limited to accountants, shall exercise the same degree of care that it exercises with respect to its own proprietary information of the same types to maintain the confidentiality of any
non-public information thereby received or received pursuant to this Agreement except that disclosure of such information may be made (a) to the subsidiaries or affiliates of Bank in connection with their
present or prospective business relations with Borrower, (b) to prospective transferees or purchasers of any interest in the Loans (provided, however that Bank shall first have entered into a customary confidentiality agreement with such
prospective transferee or purchaser at least as protective as the terms in this Section 13.8), (c) as required by law, regulations, rule or order, subpoena, judicial order, or similar order, (d) as may be required in connection with
the examination, audit or similar investigation of Bank and (e) as Bank may determine in connection with the enforcement of any remedies hereunder. Confidential information hereunder shall not include information that either: (x) is in the
public domain or in the knowledge or possession of Bank when disclosed to Bank, or becomes part of the public domain after disclosure to Bank through no fault of Bank; or (y) is disclosed to Bank by a third party, provided Bank does not have
actual knowledge that such third party is prohibited from disclosing such information. 
 13.9    Patriot Act
Notice. Bank notifies Borrower that, pursuant to the requirements of the USA Patriot Act, Title III of Pub. L. 107-56 (signed into law on October 26, 2001) (the “Patriot Act”), it is
required to obtain, verify, and record information that identifies Borrower, which information includes names and addresses and other information that will allow Bank to identify Borrower in accordance with the Patriot Act. 

13.10    Marketing Consent. Borrower hereby authorizes Bank and its affiliates, at their respective
sole expense, with Borrower’s prior review and written approval, to publish such tombstones and give such other publicity to this Agreement as each may from time to time determine in its sole discretion.

13.11    Reinstatement. This Agreement shall remain in full force and effect and continue to be effective
should any petition or other proceeding be filed by or against Borrower for liquidation or reorganization, should Borrower become insolvent or make an assignment for the benefit of any creditor, or creditors or should an interim receiver, receiver,
receiver and manager, or trustee be appointed for all or any significant part of Borrower’s assets, and shall continue to be effective or to be reinstated, as the case may be, if at any time payment and performance

  
 26 

 
of the Obligations, or any part thereof, is, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee of the Obligations, whether as a
fraudulent preference reviewable transaction or otherwise, all as though such payment or performance had not been made. In the event that any payment, or any part thereof, is rescinded, reduced, restored, or returned, the Obligations shall be
reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored, or returned. 
 [Signature Page Follows] 

  
 27 

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

			
	INARI MEDICAL, INC.
		
	By:	 	 /s/ Mitch Hill

	Name:	 	Mitch Hill
	Title:	 	Chief Financial Officer
	
	SIGNATURE BANK
		
	By:	 	 /s/ Justin McDonie

	Name:	 	Justin McDonie
	Title:	 	Managing Director

  
 [Signature Page to Loan
and Security Agreement] 

 EXHIBIT A 

 

			
	DEBTOR:	  	INARI MEDICAL, INC.
		
	SECURED PARTY:	  	SIGNATURE BANK

 COLLATERAL DESCRIPTION ATTACHMENT 

TO LOAN AND SECURITY AGREEMENT 

All personal property of Borrower (herein referred to as “Borrower” or “Debtor”) whether presently existing or hereafter
created or acquired, and wherever located, including, but not limited to: 
 (a)    all accounts (including
health-care-insurance receivables), chattel paper (including tangible and electronic chattel paper), deposit accounts, documents (including negotiable documents), equipment (including all accessions and additions thereto), general intangibles
(including payment intangibles and software), goods (including fixtures), instruments (including promissory notes), inventory (including all goods held for sale or lease or to be furnished under a contract of service, and including returns and
repossessions), investment property (including securities and securities entitlements), letter of credit rights, money, and all of Debtor’s books and records with respect to any of the foregoing, and the computers and equipment containing said
books and records; 
 (b)    any and all cash proceeds and/or noncash proceeds of any of the foregoing, including,
without limitation, insurance proceeds, and all supporting obligations and the security therefor or for any right to payment. All terms above have the meanings given to them in the New York Uniform Commercial Code, as amended or supplemented from
time to time. 
 Notwithstanding the foregoing, the Collateral shall not include any copyrights, patents, trademarks, service marks, and
applications therefor, now owned or hereafter acquired, or any claims for damages by way of any past, present, and future infringement of any of the foregoing (collectively, the “Intellectual Property”); provided, however, that the
Collateral shall include all accounts and general intangibles that consist of rights to payment and proceeds from the sale, licensing or disposition of all or any part, or rights in, the foregoing (the “Rights to Payment”). Notwithstanding
the foregoing, if a judicial authority (including a U.S. Bankruptcy Court) holds that a security interest in the underlying Intellectual Property is necessary to have a security interest in the Rights to Payment, then the Collateral shall
automatically, and effective as of the Closing Date, include the Intellectual Property to the extent necessary to permit perfection of Bank’s security interest in the Rights to Payment; provided, that Bank’s enforcement rights with respect
to any security interest in the Intellectual Property shall be absolutely limited to the Rights to Payment only, and Bank shall have no recourse whatsoever with respect to the underlying Intellectual Property.

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