Document:

EX-10.11

 ***Confidential Treatment Requested. Certain omitted portions of this exhibit have been filed with the
Securities and Exchange Commission pursuant to a request for confidential treatment under Rule 406 promulgated under the Securities Act of 1933. 

Exhibit 10.11 
 MASTER
SERVICES AGREEMENT 
 This Master Services Agreement (“MSA”) is effective as of November 28, 2012 (“Effective Date”), by and
between Castlight Health, Inc., a Delaware corporation located at 685 Market Street, Suite 300, San Francisco, CA 94105 (“Castlight”) and the Administrative Committee of the Wal-Mart Stores, Inc., Associates’ Health and Welfare Plan
(“Plan”), located at 508 SW 8th Street, Bentonville, AR 72716-3500 (“Customer”). 

RECITALS 
 A. WHEREAS,
Castlight provides web-based and other services that provide health care cost and transparency to users. 
 B. WHEREAS, Customer desires to
enter into this MSA and related attachments, addenda, Service Addendums (as defined below) and exhibits, collectively the “Agreement” to set forth the terms and conditions upon which Castlight shall provide certain services to or on behalf
of Customer, and Castlight desires to provide such services under the terms and conditions of this Agreement. 
 NOW, THEREFORE, in
consideration of the covenants and agreements hereinafter set forth, the parties agree as follows: 
 ARTICLE 1. DEFINITIONS 

1.1 “Castlight Platform” means Castlight’s proprietary technology platform and system (including without limitation software, algorithms
and proprietary and technical information therein) for gathering, analyzing, modifying and making available to its users certain health-related user and provider data and related information, guidance and services. 

1.2 “Castlight Service” means services that Castlight provides using the Castlight Platform which are more fully described in the applicable
Service Addendum. 
 1.3 “Data” means the following categories of data or information: (i) User Data, (ii) Customer Data, and
(iii) TPA(s) Data. 
 1.4 “Employee User” means each Customer employee who meets the Eligibility Criteria to participate in or be
provided the Castlight Service, as defined in the applicable Service Addendum. 
 1.5 “TPA” means any third party administrator designated
by Customer which may include ***, which are Customer’s third party administrators of health services, including physician network management, as of the Effective Date. 

1.6 “TPAs Data” means data provided by the TPAs on behalf of the Customer such as, but not limited, to formulary data, provider directories,
network data, national pre-authorization procedures, clinical policy bulletins and proprietary rate tables as agreed to by the TPAs. 
 1.7 “New
Data” means (a) a modified version of User Data or Customer Data or (b) new data created with reference to User Data or Customer Data, in each case whether through aggregation, cleansing, scrubbing, reverse engineering, extraction or
other means, such that (i) with respect to modified User Data or new data created with reference thereto, the applicable User has been de-identified in accordance with 45 CFR section 164.514, as applicable and (ii) with respect to modified
Customer Data or new data created with reference thereto, Customer has been de-identified in accordance with 45 CFR section 164.514, as applicable. 

 1.8 “Customer Data” means data specific to Customer provided by or on behalf of Customer to
Castlight, such as, but not limited to, Summary of Plan Design and medical and claims histories. 
 1.9 “Services” means (a) the
Castlight Service, and (b) the Other Services (as defined in the applicable Service Addendum). 
 1.10 “Providers” means certain third
parties that provide services to Customer, such as employee benefits portals, and in connection with such provision of services to Customer will be providing information to Castlight in connection with this Agreement. 

1.11 “User” means Employee Users and Adult Dependent Users. 

1.12 “User Data” means demographic and other User-specific information and data, whether or not such information or data is Protected Health
Information (as defined in the Business Associate Agreement between Castlight and Customer dated September 20, 2012 (the “BAA”)). User Data includes, without limitation, each Employee User’s name, address, dependent information,
claims histories and explanations of benefits. 
 1.13 “Launch Date” shall have the same meaning as such term is defined in the First
Services Addendum executed between Castlight and the Plan, dated of even date hereof (the “First Services Addendum”). 
 ARTICLE 2. SERVICES.

 The specific Services to be provided and related terms and conditions shall be specified in writing (each such writing, a “Service
Addendum”). Each Service Addendum shall (a) be signed by an authorized representative of each party; (b) include the applicable term, the description of Services to be performed, the responsibilities of the parties, compensation and
payment terms and any additional terms and conditions as needed; (c) be subject to all of the terms and conditions of this MSA and the BAA. The terms and conditions of the MSA and the BAA shall control in the event of a conflict with the
Service Addendum, except to the extent that the applicable Service Addendum expressly states that it supersedes this MSA. 
 ARTICLE 3. TERM AND
TERMINATION 
 3.1 Term. The initial term of this Agreement (the “Initial Term”) commences on the Effective Date and continues until
December 31, 2015. (The Initial Term is also referred to as the “Term.”) This Agreement may be terminated during the Term as provided below in Section 3.2 and Section 3.3. 

3.2 Termination for Cause. Either party may terminate this Agreement at any time during the Term: (a) immediately for a material breach of this
Agreement by the other party unless such material breach is cured within such 30 day period; or (b) immediately if the other party becomes the subject of a petition in bankruptcy or any other proceeding relating to insolvency, receivership,
liquidation or assignment for the benefit of creditors. 
 3.3 Termination without Cause. 

 

	 	(a)	 Termination ***. Upon the effective date of such termination, Castlight shall immediately cease work on the effective Service Addendum(s) and
deliver to Customer all Services 

  
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performed to date of termination. In the event ***, Customer shall pay Castlight a fee to allow Castlight the recover a portion of the costs it has incurred (e.g., software, hardware, IT
infrastructure, engineering resources, management resources, new hires, training, increased third party vendor costs) in anticipation of providing services under this Agreement. The fee shall be equal to the ***. Castlight represents that the fee
will not exceed *** under this Agreement. 

  

	 	(b)	Termination after First Contract Year. Upon written notice to Castlight, at any time during any Term subsequent to the First Contract Year, Customer may terminate this Agreement *** prior written notice. Upon the
effective date of such termination, Castlight shall immediately cease work on the effective Service Addendum and deliver to Customer all Services performed to date of termination. In the event of such termination, Customer shall only be responsible
for the payment of fees described in Section 3.4. 

 3.4 Effect of Expiration or Termination. Upon expiration or
termination of this Agreement (a) Castlight shall have no further obligation to perform the Services and shall cease performing the Services; (b) neither party shall be relieved from any obligation accrued up to and including the date of such
expiration or termination nor deprived of any right or remedy otherwise available to it hereunder; (c) within 30 days Customer will pay Castlight for all Services performed. Article 4 (including the sections of any Service Addendum regarding
payment obligations), Article 6, Section 7.1 (except Customer shall have no further obligation under Section 7.l(b)), Article 8 (except for Section 8.1), Article 9 and those provisions of any Service Addendum that survive such
expiration or termination as specified in such Service Addendum shall survive any termination or expiration of this Agreement. 
 ARTICLE 4. FEES,
PAYMENT AND PAYMENT TERMS 
 4.1 Service Fees, Invoicing and Payment Terms. Castlight’s compensation and payment for the Services and
the applicable invoicing and payment terms shall be as set forth in the applicable Service Addendum. 
 4.2 Taxes. Castlight’s fees do
not include any taxes, levies, duties or similar governmental assessments of any nature, including but not limited to value-added, sales and use, or withholding taxes, assessable by any local, state, provincial, federal or foreign jurisdiction
(collectively, “Taxes”). Customer is responsible for paying all Taxes associated with its purchases hereunder. If Castlight has the legal obligation to pay or collect Taxes for which Customer is responsible under this Section 4.2, the
appropriate amount shall be invoiced to and paid by Customer. 
 ARTICLE 5. REPRESENTATIONS AND WARRANTIES 

5.1 By Both Parties. Each party represents and warrants to the other party that: (a) it has all requisite power and authority to enter into
this Agreement and to carry out its obligations hereunder and (b) by entering into this Agreement, including any Service Addendum, it does not and will not violate or constitute a breach of any of its contractual obligations with third parties.

 5.2 By Castlight. Castlight represents and warrants to Customer that (a) Castlight shall properly supervise all persons performing
Services and shall require that all such persons comply with the applicable terms of this Agreement, including any applicable Service Addendum and the BAA; (b) to 

  
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 Castlight’s knowledge as of the Effective Date, the Castlight Platform does not infringe any registered U.S.
copyright, patent or trademark of any third party; and (c) Castlight will perform the Services in a professional manner, and such Services will comply in all material respects with the descriptions set forth in the applicable Service Addendum,
subject to the terms and conditions thereof. 
 5.3 DISCLAIMER. EXCEPT FOR THE EXPRESS LIMITED WARRANTIES SET FORTH IN SECTIONS 5.1 AND 5.2,
CASTLIGHT MAKES NO WARRANTY IN CONNECTION WITH THE SUBJECT MATTER OF THE AGREEMENT (INCLUDING, WITHOUT LIMITATION, THE SERVICES AND THE CASTLIGHT PLATFORM) AND HEREBY DISCLAIMS ANY AND ALL OTHER WARRANTIES, WHETHER EXPRESS, IMPLIED, STATUTORY OR
OTHERWISE, INCLUDING ALL IMPLIED WARRANTIES OF NONINFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, OR ARISING FROM A COURSE OF DEALING OR USAGE OF TRADE, REGARDING SUCH SUBJECT MATTER. 

ARTICLE 6. CONFIDENTIAL INFORMATION. (a) Both Parties acknowledge that either party may receive (the “Receiving Party”) Confidential
Information (as defined hereinafter) from the other Party (the “Disclosing Party”) during the Term of this Agreement and such Confidential Information will be deemed to have been received in confidence and will be used only for the
purposes of this Agreement. The Receiving Party shall use the Disclosing Party’s Confidential Information only to perform its obligations under this Agreement and disclose the Disclosing Party’s Confidential Information only to the
Receiving Party’s personnel having a need to know the information for the purpose of this Agreement; provided that Customer acknowledges that certain Confidential Information is disclosed to users of the Services as necessary to provide the
Services. The Receiving Party shall treat the Confidential Information as it does its own valuable and sensitive information of a similar nature and, in any event, with not less than a reasonable degree of care. Upon the Disclosing Party’s
written request, the Receiving Party shall return or certify the destruction of all Confidential Information, and the obligation of confidentiality shall continue for three (3) years from the expiration or termination of this Agreement except
as noted below in Section 6(a)(i) and 6(a)(ii); provided however, the parties agree and acknowledge that it will be infeasible for Castlight to return or destroy PII (as defined below) related to a User that has requested Customer retain
information related to such User; and PII stored on encrypted back-up tapes that are stored in a secure location; provided further, however, the Receiving Party shall keep (i) any personally identifiable information and personal health
information as defined in 45 CFR section 160.l03 (collectively, “PII”) confidential in perpetuity; and (ii) any trade secrets of the Disclosing Party confidential as long as such information is deemed a trade secret. (b) The term
“Confidential Information” includes, without limitation, (i) PII; (ii) all information communicated by the Disclosing Party that should reasonably be considered confidential under the circumstances, notwithstanding whether it was
identified as such at the time of disclosure; (iii) all information identified as confidential to which Receiving Party has access in connection with the subject matter hereof, whether before or after the Effective Date; and (iv) this
Agreement and shall include without limitation, (A) all trade secrets, (B) existing or contemplated products, services, designs, technology, processes, technical data, engineering techniques, methodologies and concepts and any information
related thereto, and (C) information relating to business plans, sales or marketing methods and customer lists or requirements. (c) The obligations of either Party under this Article 6 will not apply to information that the Receiving Party
can demonstrate (i) was in the possession at the time of disclosure and without restriction as to confidentiality; (ii) at the time of disclosure is generally available to the public or after disclosure becomes generally available to the
public through no breach of agreement or other wrongful act by the Receiving Party; provided, however, the Receiving Party remains subject to confidentiality obligations regardless of its availability to the public or availability through
unauthorized disclosure; (iii) has been received from a third party without restriction on disclosure and without breach of agreement or other wrongful act by the Receiving Party; or (iv) is independently developed by the Receiving Party
without regard to the Confidential Information of the other party. (d) In the event the Receiving Party is required by law, regulation, stock exchange requirement or legal process to disclose any of the Confidential Information, the Receiving
Party agrees 

  
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 to (i) give Disclosing Party, to the extent possible, advance notice prior to disclosure so the Disclosing
Party may contest the disclosure or seek a protective order, and (ii) limit the disclosure to minimum amount that is legally required to be disclosed. 

ARTICLE 7. INTELLECTUAL PROPERTY AND DATA RIGHTS 

7.1 Improvements and Feedback. Castlight will exclusively own all right, title and interest in and to (a) the Castlight Platform and to the
Castlight Service; (b), any improvements, enhancements, derivative works, modifications, additional modules or features to or for the Castlight Platform or the Castlight Service developed or created during the Term, whether created or developed
solely or jointly by or for the parties or any User; and (c) all intellectual property rights in the foregoing. Castlight will exclusively own all right, title and interest in and to any feedback, ideas, suggestions or information that Customer
provides relating to the Castlight Service or the Castlight Platform, including all intellectual property rights therein. 
 7.2 Access and Use of
Data. Customer will provide, or direct the TPA(s) and/or Providers to provide, Data to Castlight for Castlight’s performance of the Services. Castlight may access, reproduce, modify and prepare derivative works of, aggregate, analyze,
cleanse, scrub, reverse engineer, distribute, display, present and otherwise use Data as reasonably necessary for the purposes of performing and providing Services. Customer shall ensure that (i) all information that Customer provides to
Castlight, including but not limited to eligibility files, is authentic, accurate, reliable, complete and confidential and (ii) Castlight may use such information in accordance with the terms of this Agreement without violating or infringing
any third party rights. Customer’s security measures shall include, but are not limited to: (a) maintaining, and requiring agents and subcontractors to maintain, administrative, technical and physical safeguards to protect the security,
integrity and confidentiality of data provided to Castlight, including up-to-date and anti-virus software; (b) not accessing or using the electronic systems of Castlight for any purpose that is illegal or unauthorized; and (c) maintaining
and enforcing security management policies and procedures and utilizing mechanisms and processes to prevent, detect, record, analyze, contain and resolve unauthorized access attempts and for periodically reviewing its processing infrastructure for
potential security vulnerabilities. Castlight is entitled to rely on the information submitted by the Customer and TPA(s) unless Castlight knew or should have known the information was erroneous. 

7.3 Ownership. As between the parties (a) Customer shall own all rights, title and interest in and to any and all Customer Data and
(b) Castlight shall own all rights, title and interest in and to any and all New Data. 
 7.4 Effect of Termination on Data Rights.
Castlight will, within ninety (90) days after written request by Customer, purge all Customer Data received from the Customer except (a) to the extent a User has requested that Castlight retain information related to such User or
(b) stored on encrypted back-up medium that are stored in a secure location; provided, however Castlight will not be required to purge any New Data and will, at all times, be free to use such New Data for any purpose without restriction of any
kind. 

  
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 ARTICLE 8. INSURANCE, INDEMNIFICATION AND LIMITATIONS OF LIABILITY 

8.1 Insurance. During the Term of this Agreement and for a period of 3 years following the expiration or termination, Castlight shall obtain and
maintain a policy or policies of liability insurance covering Castlight’s obligations under this Agreement to include (i) commercial general liability insurance, (ii) workers’ compensation insurance as required by applicable law;
(iii) insurance covering intellectual property infringement; and (iv) professional liability insurance protecting Castlight and Customer from errors and omissions of Castlight in connection with the performance of Services. All such
insurance required herein shall be with companies and in amounts reasonably acceptable to Customer (and Customer acknowledges that Castlight’s existing insurance amounts and companies are acceptable) and the coverage thereunder may not be
reduced or canceled without Customer’s prior written consent. All insurance shall be primary and not contributory with regard to any other available insurance to Customer. All insurance shall be written by companies with a BEST Guide rating of
B+ VII or better. Certificates of insurance (or copies of policies) shall be furnished to Customer upon Customer’s request. All such policies shall include Customer as an additional insured and contain a waiver of subrogation. Such policy(ies)
shall have a minimum coverage of $*** per occurrence and in the aggregate. 
 8.2 Indemnity by Castlight. Castlight agrees to defend, indemnify
and hold harmless Customer, its directors, officers, employees and agents for that portion of any loss, liability, damage, expense, settlement, cost or obligation (including court costs and reasonable attorneys’ fees) arising from third party
claims of Castlight’ s actual or alleged (a) negligence, or willful or criminal misconduct; (b) material breach of this Agreement; or (c) misrepresentation or fraud related to or arising out of the Services and/or
Castlight’s performance of the Services. 
 8.3 Indemnity by Customer. Customer agrees to defend, indemnify and hold harmless Castlight,
its directors, officers, employees and agents for that portion of any loss, liability, damage, expense, settlement, cost or obligation (including court costs and reasonable attorneys’ fees) arising from third party claims of Customer’s
actual or alleged (a) negligence or willful or criminal misconduct; (b) material breach of this Agreement; or (c) misrepresentation or fraud related to or arising out of the performance of this Agreement. 

8.4 Limitation of Liability. NEITHER CUSTOMER NOR CASTLIGHT SHALL BE LIABLE TO THE OTHER UNDER THIS AGREEMENT UNDER ANY CONTRACT, NEGLIGENCE,
STRICT LIABILITY, TORT OR OTHER LEGAL OR EQUITABLE THEORY FOR ANY INCIDENTAL, INDIRECT, CONSEQUENTIAL, EXEMPLARY, PUNITIVE OR SPECIAL DAMAGES OF ANY NATURE WHATSOEVER, REGARDLESS OF W HETHER SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
DAMAGES. NOTWITHSTANDING THE ABOVE, NOTHING IN THIS SECTION SHALL LIMIT THE ABILITY OF EITHER PARTY TO OBTAIN DAMAGES THAT FULLY COMPENSATE SUCH PARTY FOR ACTUAL LOSSES, FINES, PENALTIES AND REASONABLE ATTORNEY’S FEES OR OTHER COSTS OR TO
OBTAIN AN Y RELIEF PROVIDED UNDER ***. THE LIMITATIONS SPECIFIED IN THIS SECTION 8.4 WILL SURVIVE AND APPLY EVEN IF ANY LIMITED REM EDY SPECI FIED IN THIS AGREEMENT IS FOUND TO HAVE FAILED OF ITS ESSENTIAL PURPOSE. THE FOREGOING SHALL NOT LIMIT
CUSTOMER’S PAYMENT OBLIGATIONS UNDER THIS AGREEMENT OR ANY SERVICE ADDENDUM. 
 ARTICLE 9. MISCELLANEOUS 

9.1 Complete Agreement. This Agreement, including all exhibits and addenda hereto, sets forth the entire understanding of the parties with
respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, proposals, representations or understandings between them, written or oral, concerning such subject matter. No waiver or modification of any provision of
this Agreement may be made unless by a written instrument duly executed by both parties. Any waiver or breach of any term or condition shall not be deemed to be a waiver of any preceding or succeeding breach of the same or any other term or
condition. 

  
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 9.2 Assignment. Neither Customer nor Castlight may assign this Agreement, or any rights, duties or
obligations contained herein, to any other person, firm, corporation or other business entity without the prior written consent of the other party except that this Agreement may be assigned by either party to any of its parent, subsidiary or
affiliate organizations or any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of its business assets which assignment shall be subject to the other party’s prior written
consent, which consent shall not be unreasonably withheld or delayed. Any assignment in violation of this Section 9.2 shall be void and of no force or effect. If Customer consents to any assignment, Castlight shall remain liable for the action
of any party to whom Castlight assigns this Agreement, or its rights or obligations. If Castlight subcontracts any of its obligations under this Agreement, it shall be fully responsible for the performance of its subcontractors as if they were
employees. 
 9.3 Notices. All notices and other communications required or permitted under this Agreement shall be in writing, served
personally on, delivered by recognized overnight courier or mailed by certified or registered United States mail to, the party to be charged with receipt thereof at the address first listed above. Notices and other communications served by mail
shall be deemed given hereunder 72 hours after deposit of such notice or communication in the United States Post Office as certified or registered mail with postage prepaid and duly addressed to whom such notice or communication is to be given. All
other notices shall be deemed given hereunder upon actual receipt. Any such party may change said party’s address for purposes of this Section by giving to the parties intended to be bound thereby, in the manner provided herein, a written
notice of such change. 
 9.4 Severability. All Sections, clauses thereof and covenants contained in this Agreement are severable, and in the
event any of them shall be held to be invalid by any court, this Agreement will remain in full force and effect, such Sections, clauses or covenants will be deemed stricken and the remaining provisions will not be affected or impaired and will be
interpreted as if such invalid Sections, clauses or covenants were not contained herein. 
 9.5 Applicable Law and Waiver of Jury Trial. This
Agreement is made and shall be governed by and construed, interpreted and enforced in accordance with the laws of the State of Delaware, without regard to principles of conflicts of law. Each party waives any right to jury trial in connection with
any dispute arising out of or concerning the Agreement. 
 9.6 Relationship of Parties. The parties are independent contractors. This does not
create a partnership, joint venture, franchise, agency, fiduciary or employment relationship between the parties. 
 9.7 Attorneys’ Fees.
If any action at law or in equity is necessary to enforce the terms of the Agreement, the substantially prevailing party will be entitled to reasonable attorneys’ fees, costs and expenses in addition to any other relief to which such prevailing
party may be entitled. 
 9.8 Force Majeure. Neither party shall be responsible or liable to the other party for nonperformance or delay in
performance of any terms or conditions of this Agreement (except payment obligations) due to acts of God, acts of governments, wars, riots, strikes or other labor disputes, fire, flood, or other causes beyond the reasonable control of the
nonperforming or delayed party and without the negligence of such party, provided, however, nonperformance or delay in excess of one hundred eighty (180) days shall constitute cause for termination of this Agreement by either party. Castlight
shall maintain disaster back­up plans and procedures as reasonably necessary to minimize the interruption of its services to be provided to the Customer pursuant to this Agreement. 

  
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 9.9 Audit. Once in each 12 month period and upon at least 10 days prior written notice, Castlight
shall allow Customer or its duly authorized representative (at Customer’s sole cost and expense), the right during the Term of this Agreement and for two (2) years after its termination or expiration to conduct in a manner that does not
unreasonably interfere with Castlight’s business further full and independent audits and investigations during normal business hours of (i) Castlight’s business; and (ii) all information, books, records and accounts, including,
but not limited to, wages due to individuals performing Services under this Agreement, taxes, including unemployment, income and social security, which are due, may be payable, or may otherwise be required to be withheld from wages (but subject to
Castlight’s obligations of confidentiality to third parties). Castlight shall keep accurate and complete accounts and time records related to this Agreement. 

9.10 Publicity and Use of Trademarks. Neither party shall use the name, logo, trademarks or trade names of the other party in publicity
releases, promotional material, customer lists, advertising, marketing or business-generating efforts whether written or oral, without obtaining that party’s prior written consent, which consent shall be given at its sole discretion. 

9.11 Headings. The headings of this Agreement are intended solely for convenience of reference and shall be given no effect in the
interpretation or construction of this Agreement. 
 9.12 Counterparts. The Agreement may be executed in one or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same Agreement. 
 IN WITNESS WHEREOF, the parties hereto have
caused this MSA to be duly executed as of the date(s) set forth below to be effective as of the Effective Date. 
 ACCEPTED AND AGREED TO FOR: 

 

									
	CASTLIGHT HEALTH, INC.	 		 	ADMINISTRATIVE COMMITTEE OF THE WAL-MART STORES, INC. ASSOCIATES’ HEALTH AND WELFARE PLAN
					
	By:	 	 /s/ Randall J. Womack
	 		 	By:	 	 /s/ Illegible

					
	Its:	 	 COO
	 		 	Its:	 	 11/29/12

					
	Date:	 	 11/26/12
	 		 	Date:	 	  

  
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 FIRST SERVICE ADDENDUM, aka Statement of Work 

This First Service Addendum (this “First Addendum”), aka Statement of Work, is made and entered into by and between the Administrative Committee of
the Wal-Mart Stores, Inc. Associates’ Health and Welfare Plan (“Plan”) located at 508 SW 8th Street, Bentonville, AR 72716-3500 (“Customer”) and Castlight Health, Inc.
(“Castlight”), to be effective as of the same date as that certain Master Services Agreement dated November 28, 2012, entered into by the parties (the “MSA,” and collectively with its attachments, addenda and exhibits, the
Business Associate Agreement and this First Addendum, the “Agreement”) to which this First Addendum is attached and incorporated. All capitalized terms not otherwise defined herein shall have the meanings assigned to them in the Agreement.

 Recitals 
  

	 	A.	WHEREAS, the Plan is sponsored by Wal-Mart Stores, Inc. (“Wal-Mart”) and governed under the Employee Retirement Income Security Act of 1974, as amended. 

 

	 	B.	WHEREAS, the benefit program offered under the Plan is available to covered associates and their dependents as defined below. 

1. DEFINITIONS. For purposes of this First Addendum, unless otherwise agreed by the parties in writing: 

 

	 	a.	“Eligibility Criteria” means, 

  

	 	(i)	a Wal-Mart employee for whom *** acts as the third party administrator (“TPA”) as of the Effective Date (“*** Employee User”) and an Adult Dependent User for whom *** acts as TPA as of the Effective
Date (“*** Adult Dependent User”) as identified by Castlight based on information provided by Customer to Castlight (*** Employee Users and *** Adult Dependent Users collectively “*** Users”); 

 

	 	(ii)	a Wal-Mart employee for whom *** acts as TPA as of the Effective Date (an “*** Employee User”) and an Adult Dependent User for whom *** acts as TPA as of the Effective Date (“*** Adult Dependent
User”) as identified by Castlight based on information provided by Customer to Castlight (*** Employee User and *** Adult Dependent User collectively “*** Users”); 

 

	 	(iii)	a Wal-Mart employee for whom *** acts as TPA as of the Effective Date (“*** Employee User”) and an Adult Dependent for whom *** acts as TPA as of the Effective Date (“*** Adult Dependent User”) as
identified by Castlight based on information provided by Customer to Castlight (*** Employee Users and *** Adult Dependent Users collectively “*** Users”). 

 

	 	b.	“Launch Date” means the day immediately following the day Castlight delivers notice that implementation is complete for Castlight Service for the *** Users and *** Users and the Castlight Service (and to ***
Users subject to Section 2.d below). Customer agrees that its purchases hereunder are neither contingent on the delivery of any future functionality or features nor dependent on any oral or written public comments made by Castlight regarding
future functionality or features. The Launch Date is currently targeted for April 1, 2013. 

  

	 	c.	“*** Launch Date” means the day immediately following the day Castlight delivers notice that (a) *** has provided Castlight sufficient data for Castlight to provide the Castlight Service (as defined
below) and (b) that implementation is complete for *** 

  
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	 	Users of such full Castlight Service. The *** Launch Date is the date that the full Castlight Service is available to be rolled out to *** Users. The *** Launch Date will be determined in accordance with this First
Addendum. 

  

	 	d.	“User” means an *** User, an *** User and a *** User. 

  

	 	e.	“Adult Dependent User” means a person that is an adult dependent of an Employee User or is an adult otherwise eligible to receive health care coverage through an Employee User under the applicable rules of the
Plan. 

  

	 	f.	“Uptime” shall mean all times when the Castlight Service is running and is available to be accessed by Users as measured by the site monitoring software operated by Castlight (the “Monitoring
Software”). 

  

	 	g.	“Available Time” shall mean the number of hours in any given month less the amount of Downtime related to events outside of Castlight’s control such as force majeure events, Standard Maintenance Windows,
Emergency Maintenance Windows, internet-wide disruptions, denial of service attacks. 

  

	 	h.	“Downtime” shall mean all times in which the Castlight Service fails HTTP checks, content verification checks and a service check as measured by the Monitoring Software. 

 

	 	i.	“Standard Maintenance Window” consists of a weekly maintenance hour between 10:00 p.m. and 2:00 a.m. Pacific Time every second and fourth Friday of each month or at such other time on Saturday or Sunday as may
be scheduled from time to time with ten day prior notice to Customer. 

  

	 	j.	“Emergency Maintenance Window” means emergency updates as result of vendor recommended patches to deal with high risk security threats as well as hardware replacement, which maintenance Castlight will use
commercially reasonable efforts to perform maintenance during periods of low usage (such as evenings) and to promptly notify Customer of emergency maintenance. 

  

	 	k.	“Other Services” means the implementation services and premium communication services more fully described in Section 3 and Section 4 below. 

2. CASTLIGHT SERVICE. During the term of this First Addendum, Castlight will use commercially reasonable efforts to provide Users with the services
described in Section 2a, 2b, 2c, 2d and 2e (collectively, the “Castlight Service”), a healthcare navigation service that uses the Castlight Platform to bring price and quality transparency to Users. The Castlight Service is intended
to help Users answer basic questions about their healthcare costs, quality of providers and plan benefits by showing them past care expenses, medical policy information, past savings opportunities and estimated prices for providers/services they are
considering. The Castlight Service will be comprised of the following: 
 a. Castlight’s Online Service: Commencing with the
Launch Date, Castlight will allow Users access to the online portion of the Castlight Service (the “Online Service”). Commencing with the Launch Date, the Online Service will include the functionality detailed below. Castlight will provide
Customer advance written notice of any material changes to the functionality described below will have an impact on User functionality or an impact on the manner in which TPAs interface with the Castlight Platform or assist in the delivery of
Castlight Service, including but not limited to Customer claims feed described in Section 3(d), services related to provider directories as described in Section 3(e) and services related to the provision of Accumulator Data described in
Section 3(h), provided that no change in functionality shall, at the Customer’s sole determination, adversely affect the functionality of the Castlight Service that existed as of the Launch Date: 

i. User Account Management features: 
  

	 	•	 	User registration 

  

	 	•	 	User password change/reset 

  
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	 	•	 	User e-mail address change 

  

	 	•	 	User communication opt out options 

 ii. Past care features: 

 

	 	•	 	History of past medical services with costs 

  

	 	•	 	Cost detail for past medical services 

  

	 	•	 	Periodic email notices for claims activity 

  

	 	•	 	Out of network alerts 

 iii. Insurance plan and coverage features: 

 

	 	•	 	Key medical policy features 

  

	 	•	 	Accumulator snapshots 

 iv. Prospective services search features: 

 

	 	•	 	Provider and services search box 

  

	 	•	 	Out-of-pocket estimates for select inpatient and outpatient services/providers (list of supported inpatient and outpatient services is at the discretion of Castlight and may vary over time or by geography)

  

	 	•	 	Sort results by out of pocket costs and distance 

  

	 	•	 	Care synonyms, spelling correction and other tools to make search intuitive 

  

	 	•	 	Detailed provider information (e.g. languages spoken, schooling) for select providers 

  

	 	•	 	Detailed explanation and educational content on pricing and/or coverage for select outpatient services 

  

	 	•	 	Consumer ratings 

 v. Online support features: 

 

	 	•	 	“Ask Castlight” support feature 

  

	 	•	 	Toll-free support number 

 vi. Security features: 

 

	 	•	 	Secure platform 

  

	 	•	 	HIPAA compliant 

 vii. Mobile platform providing access to certain features via mobile devices:

  

	 	•	 	Apple iPhone app 

  

	 	•	 	Google Android app 

  

	 	•	 	Mobile web application 

 viii. Pharmacy services: subject to *** agreement with Castlight, an
integration of ***s web site that includes links to the certain pages via single sign on technology which may include: 
  

	 	•	 	Claims History 

  

	 	•	 	Search Results 

  

	 	•	 	Financial savings opportunities 

 b. Castlight User support: Online and phone support in
English for registered Users, 7AM – 8PM Central Time, in the following areas: (i) technical support including password reset, bug reporting; (ii) clarification support including answering questions to increase health literacy and
explanation of how to use the Online Service; and (iii) shopping support including guiding Users on searching for outpatient providers/services and how to interpret search results. For purposes of this performance standard, the call center
shall be deemed not available during Castlight Support’s hours of operation (hereinafter, “downtime”) whenever callers receive a busy signal, there is no answer to a telephone call, or the telephone call is answered by
voicemail during Castlight’s hours of operation and there is no option for the caller to speak to a customer service representative. 

  
 3 

 c. Basic reporting services: Castlight standard reporting, as enhanced by Castlight from
time to time, which shall include quarterly reporting on utilization of the Castlight Service related to registration, engagement, search activity, spend and support utilization. 

d. Castlight Service for *** Users. For *** Users, on the Launch Date Castlight will offer the Castlight Service, provided that the
Online Service portion of such Castlight Service offered to *** Users shall not include certain functionality set forth in Section 2.a above, including but not limited to Past Care Features (Section 2.a.ii above). Notwithstanding the foregoing,
upon the *** Launch Date, *** Users will receive the full Castlight Service as outlined in Sections 2.a, 2.b, 2c and 2.e. 
 e. Centers
of Excellence Support. Castlight will support the selection of Customer’s Centers of Excellence providers through display in the Castlight Platform according to established quality parameters for Centers of Excellence
providers. In addition, Castlight will support the evaluation of providers based on such parameters in order to determine if they meet quality expectations for the Centers of Excellence program. 

3. IMPLEMENTATION SERVICES. During the term of this First Addendum, Castlight will also use commercially reasonable efforts to provide related
implementation services described below, which, for purposes of this First Addendum, will be deemed the Implementation Services. The Implementation Services will be comprised of the following: 

a. Eligibility feeds: Set up a Customer feed so that Castlight can receive User Eligibility Criteria information; 

b. Email feeds: Set up a Customer feed so that Castlight can maintain a set of current email addresses to send alert notifications and
other product updates; 
 c. Benefits Information: Customer shall provide all Plan information, open enrollment materials and TPA key
contacts; 
 d. Customer Claims Feed: Set up *** and *** feeds to enable regular imports of Plan’s claims information into the
Castlight Platform; 
 e. Provider directories: Set up monthly TPA feed to provide Castlight with a monthly provider directory; 

f. Customer support plan: Co-develop a Customer support plan (e.g. who handles what calls); and 

g. Testing plan: Co-develop an integration testing plan for the Castlight Service. 

h. Accumulator Data. Set up a feed from each TPA (or the clearinghouse used by such TPA) for Customer’s Accumulator Data (defined
as information provided in the form of HIPAA 270/271 transaction data for use by Castlight in identifying deductible accumulations and other information necessary for Castlight’s display of out-of-pocket cost estimates to Users as part of the
Castlight Services). 
 4. PREMIUM COMMUNICATION SERVICES. The following “premium” communication services or their equivalents: 

(a) co-development of a comprehensive marketing and communications plan; 

  
 4 

 (b) development of a personnel manager communications toolkit including all required copyrighting
and design of print and on-line collateral; 
 (c) development and execution of regional WebEx training sessions for personnel managers;

 (d) development of comprehensive on-line communications collateral for Customer benefits portal and intranet sites; 

(e) customization of Customer specific communications microsite, incorporating the Customer logo, Customer-specific home page messaging, and
Customer-specific support phone number; 
 (f) design and execution of print or on-line collateral specific to the needs of home office,
distribution, and trucking locations including podcasts, newsletter articles, and digital collateral; 
 (g) full design and execution for
three communications pilots to test the effectiveness of home print, employee incentives, and manager incentives, as well as similar design and execution for up to three follow­ on pilot expansions; 

(h) monthly management reporting on engagement and end user success stories; 

(i) e-mail invitations for Users to register for the Online Service; 

(j) translation of any requested communications pieces to Spanish; 

(k) generation and sending of e-mail marketing communications; 

(l) tracking of Castlight-generated e-mail marketing campaigns; 

(m) in-product training materials (e.g. a product tour) for all Users; 

(n) quarterly User surveys; 

(o) ongoing communications to Users regarding changes/upgrades to the Online Service, health care consumerism education, user feedback
surveys, and other related topics; 
 (p) up to 24 graphically designed in-application targeted messages; 

(q) full project management of Castlight-related communications including weekly check-in calls; 

(r) up to four on-site meetings annually including store and distribution center visits, and attendance at annual shareholders meeting and
annual internal managers meeting; 
 (s) annual refresh of all appropriate communications in advance of annual enrollment; and 

(t) full participation and collaboration in including appropriate messaging regarding Castlight in all other benefits communications. Customer
acknowledges that Castlight will host the microsite referenced in section 4.e above under a Customer specific public URL for the benefit of Customer and Customer grants Castlight license to use Customer’s name and logo on such microsite. 

  
 5 

 5. SERVICE EXCLUSIONS. Subject to change from time to time at the sole discretion of Castlight, except as
specifically set forth above the Castlight Service and the Other Services do not include the following: 
 (a) prospective search and out of
pocket cost information for dental, vision or other non-outpatient services and certain inpatient and outpatient procedures; 
 (b)
additional customizations of the Online Service; 
 (c) customized reporting or data analytics; 

(d) additional communications or training; 

(e) additional Customer support services (e.g. claims dispute resolution); 

(f) supporting a change in Customer’s third party administrator from the TPA to another party; 

(g) supporting the addition of other third party administrators beyond the TPAs named in Section 1.4 of the MSA; 

(h) supporting data feeds in addition to the data feed from the TPAs; and 

(i) provision of the Castlight Service to persons other than Users. Provision of any of these additional services to persons other than Users
will require a separate Service Addendum, including terms and conditions and additional associated service fees to be mutually agreed by the parties. 

6. PROJECT STAFF. 
  

	 	a.	Castlight will provide the following resources prior to launch: 

  

	 	1.	Implementation Manager; 

  

	 	11.	Marketing/Communications lead; 

  

	 	iii.	Legal/Finance resources to support scoping and contracting; 

  

	 	iv.	Staff as needed to detail and execute technical work; and 

  

	 	v.	Leadership support. 

  

	 	b.	Customer will similarly commit the following resources: 

  

	 	1.	Implementation Project Manager; 

  

	 	ii.	Business Development/Legal resource to support scoping and contracting; 

  

	 	111.	IT/Delivery staff as needed for integration, data feeds, etc.; and 

  

	 	iv.	Leadership support. 

 7. UPTIME COMMITMENT. Castlight warrants to Customer that each month Uptime shall
constitute at least 99.9% of Available Time for the Castlight Service (“Service Level Warranty”). If Castlight breaches the Service Level Warranty (as confirmed by the Monitoring Software), Castlight will issue a credit against the next
invoice payable by Customer (and if no further invoices are due, Castlight will pay Customer the amount of the credit within thirty days of the end of this First Addendum). Such credit will be equal to five percent (5%) of Customer’s
monthly Service Fee. 

  
 6 

 8. TELEPHONE INQUIRY HANDLING. 
  

	 	a.	Calls Answered < 30 seconds: 80% of all telephone calls answered during a calendar month by Castlight’s customer service representatives will be answered in thirty (30) seconds or less. 

 

	 	b.	Abandonment Rate: The telephone call abandonment rate will be 3.0% or less. The telephone call abandonment rate will be calculated by dividing the total number of telephone calls from persons covered under the Plan that
are terminated by the caller after the call is queued by the automated telephone system for the next available customer service representative, but before the caller speaks with a customer service representative, by the total number of telephone
calls from persons covered under the Plan received at Castlight’s office each month. 

  

	 	c.	Performance Guarantee: In the event that Castlight’s service performance level is determined to be less than any of the standards described in Section 8(a) and 8(b), above, during any month for any reason
(except related to events outside of Castlight’s control such as force majeure events), Castlight will be responsible for issuing a credit against the next invoice payable by Customer (and if no further invoices are due, Castlight will pay
Customer the amount of the credit within thirty days of the end of this First Addendum). Such credit will be equal to five percent (5%) of Customer’s monthly Service Fee. 

9. IMPLEMENTATION FEES. In consideration of Castlight’s provision of the Implementation Services under Section 3 of this First Addendum and
the Communications Services under Section 4 above, Customer shall pay Castlight a nonrefundable Implementation and Communications Fee of $***, payable concurrent with the execution of this First Addendum. Fees that Customer may be charged by
the TPAs, any providers or other third parties in connection with the implementation of the Castlight Service and integration of Castlight with such parties (which may include but are not limited to fees for marketing collateral/agency costs for
additional marketing developed by Customer, costs for claims extracts and/or provider directory feeds to Castlight, eligibility file feeds and time/materials payments to support Customer’s outsourced call center integration into Castlight)
shall be the sole responsibility of Customer. 
 10. FEES FOR THE CASTLIGHT SERVICES. 

a. Monthly Service Fees. In consideration of Castlight’s provision of the Castlight Services (including the Castlight Services to
*** Users) under Section 2 of this First Addendum, for each month (or portion thereof) during the Term (as defined in the MSA) after the Launch Date, Customer will pay Castlight, in accordance with Section 11, the Service Fee (as
calculated under this Section 10). 
 b. Monthly Service Fees. The “Service Fee” for each month commencing with the
Launch Date will be the sum of: 
 i. the product of: (A) the number of eligible *** Employee Users each month; and (B) the per ***
Employee User per month rate of $*** (the “Monthly *** Employee Fee”); plus 
 ii. the product of: (A) the number of eligible
*** Adult Dependent Users each month; and (B) the per *** Adult Dependent User rate of $*** (the “Monthly *** Dependent Fee”); plus 

iii. the product of: (A) the number of eligible *** Users each month (which is the sum of the *** Employee Users and the *** Adult
Dependent Users); and (B) the per *** User per month rate of $*** (the “Monthly *** Fee”); plus 

  
 7 

 iv. the product of: (A) the number of eligible *** Users each month; and (B) the per
*** User per month rate of $*** (the “Monthly *** Fee”); provided that following the *** Launch Date, the Monthly *** Fee during the remainder of the Initial Term shall be the product of (x) the number of eligible *** Users each month
and (y) $***, commencing with the first day of the first month following the *** Launch Date. 
 c. Partial Months. Service Fees
will not be adjusted on a pro rata basis. In the event of any partial month, such as upon termination of the Agreement, the full amount of the Service Fees will be payable for such month. If an employee or an adult dependent is a User on the
eligibility file run on the 15th day of a month (the “Billing File Run”) he/she will be included in Customer’s self-billing process and will be deemed a User for the full month, even if the User was only a User for a portion of that
month. 
 d. Calculation of Service Fee. On a set date each month, Customer will determine the number of *** Employee Users, ***
Adult Dependent Users, *** Users and *** Users who meet the Eligibility Criteria, and Customer ‘will calculate the full fee payable for such *** Employee Users, *** Adult Dependent Users, *** Users and *** Users, as applicable, for such month.
Customer will report results of each monthly Billing File Run and the related full fee payable to Castlight by the last day of such applicable month. Castlight may verify the amount calculated by Customer by comparing the number in the Billing File
Run for the applicable month to the eligibility file run with the date closest to the Billing File Run for the applicable month. A variance of up to I% is acceptable with no risk for payment adjustments. 

11. PAYMENT AND INVOICES. Customer’s payment to Castlight for the Service Fee will be due no later than thirty (30) days after the end of
each month. Castlight will calculate and invoice the Customer Support Fee, if any, each month for the prior month. For all other fees (or if there are no more invoices for the Customer Support Fee), Castlight will invoice Customer and payment will
be due thirty (30) days after Customer’s receipt of each invoice. If any charge owing by Customer (other than charges disputed in good faith) is 30 days or more overdue, Castlight may, without limiting its other rights and remedies, suspend the
Castlight Service until such amounts are paid in full. Additionally, all amounts not paid when due will accrue interest (without the requirement of a notice) at the lower of 1.5% per month or the highest rate permissible by law until the unpaid
amounts are paid in full. 
 12. TERM. This First Addendum shall terminate upon the termination of the MSA unless otherwise mutually agreed by the
parties. 
 ACCEPTED AND AGREED TO FOR: 
  

									
	CASTLIGHT HEALTH, INC.	 		 	ADMINISTRATIVE COMMITTEE OF THE WAL-MART STORES, INC. ASSOCIATES’ HEALTH AND WELFARE PLAN
					
	By:	 	 /s/ Randall J. Womack
	 		 	By:	 	 /s/ Illegible

					
	Its:	 	 COO
	 		 	Its:	 	 Illegible

					
	Date:	 	 11/26/12
	 		 	Date:	 	 11/29/12

  
 8 

 HIPAA BUSINESS ASSOCIATE AGREEMENT 

This Business Associate Agreement (“Agreement”) is by and between the Administrative Committee on behalf of the Wal-Mart Stores,
Inc. Associates’ Health & Welfare Plan (“Covered Entity”) and Castlight Health, Inc. (“Business Associate”), and, except as expressly provided below, is effective as of September 11, 2012 (the
“Agreement Effective Date”). 
 RECITALS 
  

	 	A.	In accordance with a separate agreement (“Services Agreement’’) the Business Associate has agreed to perform, or assist in the performance of, functions, activities, or services on behalf of the Covered
Entity involving the use or disclosure of PHI (“Services”). 

  

	 	B.	Covered Entity and Business Associate intend to protect the privacy and provide for the security of PHI disclosed to Business Associate pursuant to this Agreement in compliance with the Health Insurance Portability and
Accountability Act of 1996, Public Law No. 104-191 (“HIPAA”), regulations promulgated thereunder by the U.S. Department of Health and Human Services (“HIPAA Regulations”), and other applicable laws. 

 

	 	C.	The purpose of this Agreement is to satisfy certain standards and requirements of HIPAA, the Privacy Rule and the Security Rule, as defined below, including, but not limited to, Title 45, Sections 164.314(a)(2)(i),
164.502(e) and 164.504(e) of the Code of Federal Regulations (“CFR”) and the Health Information Technology for Economic and Clinical Health Act (“HITECH”) provisions of the American Recovery and Reinvestment Act of 2009
(“ARRA”) Pub. Law No. 111-5 and its implementing regulations. 

 In consideration of the mutual promises below and the exchange
of information pursuant to this Agreement, the parties agree as follows: 
 1. Definitions. 

a. “Breach” shall mean the acquisition, access, use or disclosure of PHI in a manner not permitted by the Privacy Rule that
compromises the security or privacy of the PHI subject to the exceptions set forth in 45 C.F.R. 164.402. 
 b. “De-identified
PHI” shall mean PHI that has been de-identified in accordance with the standards set forth in 45 CFR § 164.514(b). 
 c.
“Designated Record Set” shall have the meaning given to such term under the Privacy Rule, including, but not limited to, 45 CFR Section 164.501. 

d. “Discovery” shall mean the first day on which a Breach is known to Business Associate (including any person, other than
the individual committing the breach, that is an employee, officer, or other agent of Business Associate), or should reasonably have been known to Business Associate, to have occurred. 

  
 1 

 e. “Electronic Protected Health Information” or “Electronic PHI” shall
have the meaning given to such term under the Privacy Rule and the Security Rule, including, but not limited to, 45 CFR Section 160.103, as applied to the information that Business Associate creates, receives, maintains or transmits from or on
behalf of Covered Entity. 
 f. “Individual” shall have the meaning given to such term under the Privacy Rule and the
Security Rule, including, but not limited to, 45 CFR Section 160.103 and shall include a person who qualifies as a personal representative in accordance with 45 CFR Section l64.502(g). 

g. “PHI” shall mean Protected Health Information and Electronic Protected Health Information. 

h. “Privacy Rule” shall mean the Standards for Privacy of Individually Identifiable Health Information at 45 CFR Parts 160
and 162 and Part 164, Subparts A and E. 
 i. “Protected Health Information” shall have the meaning given to such term
under the Privacy Rule and the Security Rule, including, but not limited to, 45 CFR Section 160.l03, as applied to the information that Business Associate creates, receives, maintains or transmits from or on behalf of Covered Entity. 

j. “Required by Law” shall have the meaning given to such term under the Privacy Rule and the Security Rule, including, but
not limited to, 45 CFR Section 164.103. 
 k. “Secretary” shall mean the Secretary of the Department of Health and
Human Services or his or her designee. 
 l. “Secured PHI” shall mean PHI which is secured through the use of a technology
or methodology consistent with HIPAA and HITECH and which is not Unsecured PHI. 
 m. “Security Incident” shall have
the meaning given to such term under the Security Rule, including, but not limited to, 45 CFR Section 164.304, but shall not include, (i) unsuccessful attempts to penetrate computer networks or servers maintained by Business Associate and
(ii) immaterial incidents that occur on a routine basis, such as general “pinging” or “denial of service” attacks. 

n. “Security Rule” shall mean the Security Standards at 45 CFR Parts 160 and 162 and Parts 164, Subparts A and C. 

o. “Unsecured PHI” shall mean PHI that is not secured through the use of a technology or methodology consistent with HIPAA
and HITECH. 
 p. “Users” shall mean those subcontractors, agents, or third parties of the Business Associate who or which shall,
in accordance with an agreement consistent with HITECH Section 13404, use or disclose the minimum necessary PHI for the purpose of providing Services. 

  
 2 

 2. Uses and Disclosures of PHI. 

a. Permitted Uses and Disclosures. Except as otherwise limited in this Agreement, Business Associate may use or disclose PHI to perform
the Services, provided that such use or disclosure would not violate the Privacy Rule if done by Covered Entity; and (ii) use PHI for the proper management and administration of Business Associate or to carry out the legal responsibilities of
Business Associate. If Business Associate is carrying out Covered Entity’s obligations under the Privacy Rule or Security Rule pursuant to this Agreement, then Business Associate shall comply, to the extent applicable, with the requirements of
the Privacy Rule and Security Rule in the performance of such obligations. Except as otherwise limited in this Agreement, Business Associate may disclose PHI for the proper management and administration of Business Associate, provided that
disclosures are Required by Law, or Business Associate obtains reasonable assurances from the person to whom the information is disclosed that it will remain confidential and will be used or further disclosed only as Required by Law or for the
purpose for which it was disclosed to the person, and that the person agrees to notify Business Associate of any instances of which it is aware in which the confidentiality of the information has been breached. 

b. Data Aggregation. To the extent permitted by Covered Entity in this Agreement, Business Associate may use De-identified PHI to
provide Data Aggregation services as permitted by 45 CFR § 164.504(e)(2)(i)(B), including use of PHI for statistical compilations, reports, research and all other purposes allowed under applicable law. 

c. De-identified Data. Business Associate may create De-identified PHI and may use or disclose such De-identified data for the
provision and development of Business Associate’s Services on Business Associate’s password protected web based service. Business Associate shall not separately sell such de-identified data to third parties and shall not disclose such
de-identified data to third parties except to users of such password protected web based service; provided, however that Business Associate may aggregate such de-identified data as permitted by the Covered Entity in this Agreement. 

d. Disclosure Pursuant to Authorization. Without limiting the generality of the foregoing, Business Associate reserves the right at its
sole discretion to disclose PHI in response to and in accordance with a valid written authorization executed by such individual that meets the requirements set forth in the HIPAA Privacy Rule. 

3. Obligations of Business Associate. 

a. Appropriate Safeguards. Business Associate shall use appropriate safeguards to prevent use or disclosure of PHI other than as
provided for by this Agreement. Business Associate shall implement administrative, physical and technical safeguards that reasonably and appropriately protect the confidentiality, integrity and availability of PHI, as required by the Security Rule.

  
 3 

 b. Reporting of Improper Use or Disclosure. Business Associate shall report to Covered
Entity any use or disclosure of PHI not provided for by the Agreement and this Agreement within five (5) days of becoming aware of such use or disclosure. Business Associate shall report to Covered Entity any Security Incident within five
(5) days of becoming aware of such incident. Business Associate shall notify Covered of any Breach of Unsecured PHI as soon as practicable, and no later than thirty (30) days after discovery of such Breach. Business Associate’s
notification to Covered Entity of a Breach shall include: (i) the identification of each individual whose Unsecured PHI has been, or is reasonably believed by Business Associate to have been, accessed, acquired or disclosed during the Breach;
and (ii) any particulars regarding the Breach that Covered Entity would need to include in its notification, as such particulars are identified in 42 U.S.C. § 17932 and 45 C.F.R. § 164.404, and identify a contact person for more
information when reporting. 
 c. Business Associate’s Agents. Business Associate shall ensure that any agent, including a
subcontractor, to whom it provides PHI, agrees to restrictions and conditions at least as restrictive as those that apply through this Agreement to Business Associate with respect to such PHl. Business Associate shall ensure that any agent,
including a subcontractor, to whom it provides PHI, agrees to implement reasonable and appropriate safeguards to protect such information. If any agents or subcontractors of the Business Associate are not subject to the jurisdiction or laws of the
United States, or if any use or disclosure of PHI in performing Services will be outside of the jurisdiction of the United States, such entities must agree by written contract with the Business Associate to be subject to the jurisdiction of the
Secretary, the laws and the courts of the United States, and waive any available jurisdictional defenses as they pertain to the parties’ obligations under this Agreement, the Privacy Rule or the Security Rule. 

d. Access to PHI. Business Associate shall provide access, at the request of Covered Entity, within 10 business days and in the manner
designated by Covered Entity, to PHI in a Designated Record Set, to Covered Entity or, as directed by Covered Entity, to an Individual in order to meet the requirements under 45 CFR Section 164.524. If the Covered Entity directs, the Business
Associate shall act as the Covered Entity in complying with 45 CFR Section 164.524, including providing access and notices within 10 business days and in the manner directed under that regulation, and providing periodic notice of such access
and compliance to the Covered Entity, within 10 business days and in the manner directed by it. 
 e. Amendment of PHI. Business
Associate shall make any amendment(s) to PHI in a Designated Record Set that Covered Entity directs or agrees to pursuant to 45 CFR Section 164.526, at the request of Covered Entity or an Individual, and within 10 business days and in the
manner designated by Covered Entity. If an Individual requests an amendment of PHI directly from Business Associate or its agents or subcontractors, Business Associate must notify Covered Entity in writing within five (5) business days of
receiving such request. Any denial of amendment of PHI maintained by Business Associate or its agents or subcontractors shall be the responsibility of Covered Entity, unless the Covered Entity directs the Business Associate to act on its behalf in
the manner required under 45 CFR Section 164.526. 
 f. Documentation of Disclosures. Business Associate agrees to document such
disclosures of PHI and information related to such disclosures as would be required for Covered Entity to respond to a request by an Individual for an accounting of disclosures of PHI 

  
 4 

 
in accordance with 45 CFR Section 164.528. At a minimum, such information shall include: (i) the date of disclosure; (ii) the name of the entity or person who received PHI and, if
known, the address of the entity or person; (iii) a brief description of the PHI disclosed; and (iv) a brief statement of the purpose of the disclosure that reasonably informs the Individual of the basis for the disclosure, or a copy of
the Individual’s authorization, or a copy of the written request for disclosure. 
 g. Accounting of Disclosures. Business
Associate agrees to provide to Covered Entity or an Individual, within 10 business days and in the manner designated by Covered Entity, information collected in accordance with Section 3(f) of this Agreement, to permit Covered Entity to respond
to a request by an Individual for an accounting of disclosures of PHI in accordance with 45 CFR Section 164.528. In the event that the request for an accounting is delivered directly to Business Associate or its agents or subcontractors,
Business Associate shall, as directed by Covered Entity, prepare and deliver such accounting directly to the Individual in accordance with 45 CFR Section 164.528, and shall notify Covered Entity of such response. In the absence of direction
from Covered Entity, Business Associate shall forward such request for an accounting to Covered Entity in writing within five (5) business days of receipt of such request. It shall be Covered Entity’s responsibility to prepare and deliver
any such accounting requested. 
 h. Retention of PHI. Notwithstanding Section 4(c) of this Agreement, Business Associate shall
only retain PHI throughout the term of the Services Agreement as necessary to perform the Services and upon termination or expiration of this Agreement all PHI shall be returned to the Covered Entity or destroyed in accordance with section 4.c of
this Agreement. 
 i. Governmental Access to Records. Business Associate shall make its internal practices, books and records,
including policies and procedures and PHI, relating to the use and disclosure of PHI received from, or created or received by Business Associate on behalf of, Covered Entity available to the Secretary for purposes of the Secretary determining
Covered Entity’s compliance with the Privacy Rule and the Security Rule. 
 j. Mitigation. Business Associate agrees to
mitigate, to the extent practicable, any harmful effect that is known to Business Associate of a use or disclosure of PHI by Business Associate in violation of the requirements of this Agreement. 

k. Minimum Necessary. Business Associate (or its agents or subcontractors) shall only request, use and disclose the minimum amount of
PHI necessary to accomplish the purpose of the request, use or disclosure. 
 l. Electronic Transmission Standards. Business
Associate agrees to comply with all applicable electronic transactions and code sets standards under HIPAA no later than October 16, 2003. 

4. Term and Termination. 

a. Term. The term of this Agreement shall commence as of the Agreement Effective Date, and shall terminate when all of the PHI provided
by Covered Entity to Business 

  
 5 

 
Associate, or created or received by Business Associate on behalf of Covered Entity, is destroyed or returned to Covered Entity or, if it is infeasible to return or destroy PHI, protections are
extended to such information, in accordance with the termination provisions in this Section. 
 b. Termination for Cause. Upon
Covered Entity’s knowledge of a material breach by Business Associate of this Agreement, Business Associate agrees that Covered Entity may provide a 30 day opportunity for Business Associate to cure the breach or end the violation, or if cure
is not possible then terminate this Agreement and, if necessary and appropriate, the Services Agreement. 
 c. Effect of Termination.
Except as provided in paragraph (ii) of this Section 4(c) and except as to PHI that has been de-identified in accordance with the standards set forth in 45 C.F.R. § 164.514(b), upon termination of this Agreement for any reason, as
directed by Covered Entity, Business Associate shall return or destroy all PHI received from Covered Entity, or created or received by Business Associate on behalf of Covered Entity, and shall retain no copies of the PHI. This provision shall apply
to PHI that is in the possession of Users. 
 In the event that Business Associate determines that returning or destroying the PHI is infeasible,
Business Associate shall provide to Covered Entity notification of the conditions that make return or destruction infeasible. Upon mutual agreement of the parties that return or destruction of PHI is infeasible Business Associate shall extend the
protections of this Agreement to such PHI and limit further uses and disclosures of such PHI to those purposes that make the return or destruction infeasible, for so long as Business Associate maintains such PHI. The parties agree and acknowledge
that it will be infeasible for Business Associate to return or destroy PHI: (i) related to a user of Business Associate’s service that has requested Business Associate retain information related to such user; and (ii) PHI stored on
encrypted back-up tapes that are stored in a secure location. 
 5. Regulatory References. A reference in this Agreement to a section
in the Privacy Rule or the Security Rule means the section as in effect or as amended, and for which compliance is required. 
 6.
Amendment. The parties agree to take such action as is necessary to amend this Agreement from time to time as is necessary for Covered Entity to comply with the requirements of the Privacy Rule, the Security Rule and HIPAA. 

7. Survival. The respective rights and obligations of Business Associate under Section 4(c) of this Agreement shall survive the
termination of this Agreement and the Services Agreement. 
 8. No Third Party Beneficiaries. Nothing express or implied in this
Agreement is intended to confer, nor shall anything herein confer, upon any person other than Covered Entity, Business Associate and their respective successors or assigns, any rights, remedies, obligations or liabilities whatsoever. 

9. Effect on Services Agreement. Except as specifically required to implement the purposes of this Agreement, or to the extent
inconsistent with this Agreement, all other terms of the Services Agreement shall remain in full force and effect. 

  
 6 

 10. Indemnification. In addition to, and not in limitation of, any indemnification rights
of Covered Entity in the Services Agreement, Business Associate shall defend, indemnify and hold harmless the Covered Entity, the plan administrator and the plan sponsor, and their respective officers, directors, employees or agents, for any and all
liabilities, damages, claims and expenses, including penalties and reasonable attorneys’ fees, incurred as a result of Business Associate’s material violation of the Privacy Rule, the Security Rule or this Agreement. 

11. Right to Audit. During the term of this Agreement, no more than once in each 12 month period, Covered Entity may inspect and audit
its records in Business Associate’s or Users’ custody at reasonable times during normal business hours and upon reasonable advance notice to Business Associate. 

12. Interpretation. Any ambiguity or inconsistency in this Agreement shall be resolved in favor of a meaning that permits Covered
Entity to comply with the Privacy Rule, the Security Rule, and HITECH. 
 IN WITNESS WHEREOF, the parties hereto have duly executed this
Agreement as of the Agreement Effective Date. 

  
 7 

									
	COVERED ENTITY	 		 	BUSINESS ASSOCIATES
			
	Wal-Mart Stores, Inc. Associates’ Health & Welfare Plan	 		 	Castlight Health, Inc.
					
	By:	 	 /s/ Lisa Woods
	 		 	By:	 	 /s/ Charles Ott

					
	Print Name:	 	 Lisa Woods
	 		 	Print Name:	 	 Charles Ott

					
	Title:	 	 SR. Director of U.S. Healthcare
	 		 	Title:	 	 Corporate Counsel

					
	Date:	 	 9-20-2012
	 		 	Date:	 	 September 11, 2012

  
 8EX-4.2

 Exhibit 4.2 

EIGHTH AMENDED AND RESTATED 

STOCKHOLDERS’ AGREEMENT 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
	 1.
	 	Definitions	  	 	1	  
			
	 2.
	 	Registration Rights	  	 	5	  
				
		 	2.1	  	Request for Registration	  	 	5	  
				
		 	2.2	  	Company Registration	  	 	6	  
				
		 	2.3	  	Obligations of the Company	  	 	7	  
				
		 	2.4	  	Furnish Information	  	 	9	  
				
		 	2.5	  	Expenses of Registration	  	 	9	  
				
		 	2.6	  	Underwriting Requirements	  	 	9	  
				
		 	2.7	  	Delay of Registration	  	 	9	  
				
		 	2.8	  	Indemnification	  	 	10	  
				
		 	2.9	  	Reports Under Securities Exchange Act of 1934	  	 	12	  
				
		 	2.10	  	Form S-3 Registration	  	 	12	  
				
		 	2.11	  	Assignment of Registration Rights	  	 	14	  
				
		 	2.12	  	“Market Stand-Off” Agreement	  	 	14	  
				
		 	2.13	  	Termination of Registration Rights	  	 	14	  
				
		 	2.14	  	Amendment of Registration Rights	  	 	15	  
				
		 	2.15	  	Limitations on Subsequent Registration Rights	  	 	15	  
			
	 3.
	 	Information Rights	  	 	15	  
				
		 	3.1	  	Inspection	  	 	15	  
				
		 	3.2	  	Delivery of Financial Statements	  	 	15	  
				
		 	3.3	  	Maintenance of Books	  	 	16	  
				
		 	3.4	  	Sarbanes-Oxley Compliance	  	 	16	  
				
		 	3.5	  	Termination of Information Rights	  	 	16	  
			
	 4.
	 	Investors’ Right of First Offer	  	 	16	  
				
		 	4.1	  	Right of First Offer	  	 	16	  
				
		 	4.2	  	Notice of Proposed Issuance	  	 	16	  
				
		 	4.3	  	Transfer of Rights	  	 	17	  
				
		 	4.4	  	Termination of Rights	  	 	17	  
				
		 	4.5	  	Limitations on Subsequent Rights	  	 	17	  

 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	  	 	  	Page	 
			
	 5.
	 	Employee Matters	  	 	17	  
				
		 	5.1	  	Proprietary Rights Agreement	  	 	17	  
		 	5.2	  	Voting By Major Common Holders	  	 	17	  
			
	 6.
	 	Board of Directors	  	 	18	  
				
		 	6.1	  	Board Representation	  	 	18	  
				
		 	6.2	  	Board of Directors	  	 	19	  
				
		 	6.3	  	Removals; Vacancies	  	 	19	  
				
		 	6.4	  	Board Meetings	  	 	19	  
				
		 	6.5	  	Board Observer Rights	  	 	19	  
				
		 	6.6	  	No Liability for Election of Recommended Directors; Manner of Voting	  	 	20	  
				
		 	6.7	  	Covenants of the Company	  	 	20	  
				
		 	6.8	  	Additional Shares	  	 	20	  
				
		 	6.9	  	Termination	  	 	20	  
			
	 7.
	 	Drag-Along Rights	  	 	21	  
				
		 	7.1	  	Right to Compel Sale	  	 	21	  
				
		 	7.2	  	Exercise of Right	  	 	21	  
				
		 	7.3	  	Failure to Consummate the Approved Sale	  	 	22	  
				
		 	7.4	  	Legend on Share Certificates	  	 	22	  
				
		 	7.5	  	Termination	  	 	22	  
			
	 8.
	 	Transfers by Major Common Holders	  	 	22	  
				
		 	8.1	  	Offering Notice	  	 	22	  
				
		 	8.2	  	The Company’s Option to Purchase	  	 	23	  
				
		 	8.3	  	Co-Sale and Right of First Refusal Rights	  	 	23	  
				
		 	8.4	  	Termination of Transfer Restrictions	  	 	25	  
			
	 9.
	 	Covenants	  	 	25	  
				
		 	9.1	  	Special Board Approval Rights; Preferred Stock Protective Provisions	  	 	25	  
				
		 	9.2	  	Stock Vesting	  	 	26	  
				
		 	9.3	  	Repurchase Rights	  	 	26	  
				
		 	9.4	  	Transfer of Shares	  	 	26	  
				
		 	9.5	  	Major Common Holders	  	 	26	  
				
		 	9.6	  	Termination of Covenants	  	 	26	  

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	  	 	  	Page	 
			
	 10.
	 	Miscellaneous Matters	  	 	26	  
				
		 	 10.1
	  	Waivers and Amendments	  	 	26	  
				
		 	 10.2
	  	Notices	  	 	27	  
				
		 	 10.3
	  	Descriptive Headings	  	 	27	  
				
		 	 10.4
	  	Governing Law	  	 	27	  
				
		 	 10.5
	  	Counterparts	  	 	27	  
				
		 	 10.6
	  	Expenses	  	 	27	  
				
		 	 10.7
	  	Specific Enforcement; Grant of Proxy	  	 	27	  
				
		 	 10.8
	  	Successors and Assigns	  	 	27	  
				
		 	 10.9
	  	Entire Agreement	  	 	27	  
				
		 	 10.10
	  	Separability; Severability	  	 	28	  
				
		 	 10.11
	  	Stock Splits	  	 	28	  
				
		 	 10.12
	  	Aggregation of Stock	  	 	28	  
				
		 	 10.13
	  	Amendment of Prior Stockholders’ Agreement	  	 	28	  
				
		 	 10.14
	  	Irrevocable Proxy and Power of Attorney	  	 	28	  

  
 -iii- 

 EIGHTH AMENDED AND RESTATED STOCKHOLDERS’ AGREEMENT 

This Eighth Amended and Restated Stockholders’ Agreement (this “Agreement”) is made as of October 18th, 2013 (the “Effective Date”) by and among Five9, Inc., a Delaware corporation (the “Company”), the Major Common Holders (as defined below), and the Holders (as
defined below), each as listed on Exhibit A attached hereto. 
 RECITALS 

WHEREAS, as a condition to the closing of the sale and issuance of shares of Series D-2 Preferred Stock of the Company (the
“Series D-2 Stock”) pursuant to the Series D-2 Preferred Stock Purchase Agreement dated as of April 26, 2013 (the “Purchase Agreement”), the Prior Stockholders’ Agreement (as defined below) was
executed and delivered by the Major Common Holders, the Holders and the Company. 
 WHEREAS, the Company, the Major Common Holders
and certain of the Holders are parties to that Seventh Amended and Restated Stockholders’ Agreement dated as of April 26, 2013 (the “Prior Stockholders’ Agreement”); and 

WHEREAS, the parties desire to enter into this Agreement in order to (i) amend and restate the Prior Stockholders’ Agreement
in its entirety and replace it with this Agreement and (ii) revise Section 6 of this Agreement to reflect the increased size of the Company’s Board of Directors pursuant to the Restated Certificate. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the mutual premises and covenants set forth herein, the parties hereto agree to amend and restate the Prior Stockholders’ Agreement as follows: 

1. Definitions. For purposes of this Agreement: 

(a) “Acquisition” shall mean the occurrence of any of the following events: (A) any consolidation or merger of the
Company with or into any other corporation or other entity or person, or any other corporate reorganization after which the stockholders of the Company immediately prior to such consolidation, merger or reorganization, fail to own at least 50% of
the voting power of the surviving entity immediately following such consolidation, merger or reorganization in approximately the same relative percentages as prior to such consolidation, merger or reorganization, (B) any transaction or series
of related transactions in which in excess of fifty percent (50%) of the Company’s voting power is transferred, but excluding in the case of (A) and (B) (x) any consolidation or merger effected exclusively to change the
domicile of the Company or (y) any transaction or series of transactions principally for bona fide equity financing purposes in which cash is received by the Company or indebtedness of the Company is cancelled or converted or a combination
thereof, or (C) a sale, lease, exclusive license or other disposition of all or substantially all of the assets of the Company. 

  
 1 

 (b) “Affiliate” shall mean, with respect to any specified Person, any other
Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” (including, with correlative meanings, the terms
“controlled by” and “under common control with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person,
whether through the ownership of voting securities, by agreement or otherwise. Without limiting the foregoing, (i) all directors and officers of a Person that is a corporation or company, all general partners and limited partners of a
partnership or limited partnership, and all managing members and members of a Person that is a limited liability company, shall be deemed Affiliates of such Person for all purposes hereunder, (ii) in the case of an individual, Affiliate shall
include (x) members of such specified Person’s immediate family (as defined in Instruction 1 of Item 404(a) of Regulation S-K under the Securities Act) and (y) trusts, the trustee and all beneficiaries of which are such specified
Person or members of such Person’s immediate family as determined in accordance with the foregoing clause (x). 
 (c) “Common
Stock” shall mean shares of the Company’s common stock, $0.001 par value per share. 
 (d) “Exchange Act”
shall mean the Securities Exchange Act of 1934 as amended, or any similar Federal statute and the rules and regulations of the SEC thereunder, all as the same shall be in effect at the time. 

(e) “Excluded Securities” shall mean (i) any shares of Common Stock issued upon conversion of any Preferred Stock;
(ii) shares of Common Stock issued pursuant to the acquisition of another entity by the Company by merger, purchase of substantially all of the assets or other reorganization, or in any transaction in which the Company’s stockholders
immediately prior to such transaction collectively own immediately after such transaction more than 51 % of the voting power of the surviving corporation or its parent, provided such transaction and issuance is approved by the Board of
Directors of the Company (the “Board”), including a majority of the Preferred Stock Directors (as defined in Section 6.1); (iii) shares issued other than for primarily equity raising purposes, in connection with strategic
transactions involving the Company and other entities, including the issuance of securities to financial lending institutions or in connection with commercial credit, equipment leasing or equipment financing arrangements, joint ventures, corporate
partnering agreements, customer or vendor transactions, manufacturing, marketing or distribution arrangements and licensing, technology transfer or development arrangements; provided that such transaction and the issuance of shares is approved by
the Board, including a majority of the Preferred Stock Directors; (iv) up to 6,023,056 shares of capital stock and/or stock options (plus an additional number of shares of capital stock or stock options that are cancelled or terminated without
having been exercised and are again available for grant under the applicable plan) issued (including upon exercise of such stock options) to officers, employees, directors, consultants or advisors pursuant to a stock grant, stock option or purchase
plan or other employee stock incentive program approved by the Board, including a majority of the Preferred Stock Directors; (v) securities issued in connection with the Qualified IPO; (vi) shares of Common Stock and Preferred Stock issued
or issuable upon the exercise of any warrants, options or rights that are outstanding as of the Effective Date; (vii) shares of Common Stock issued by way of dividends, 

  
 2 

 
stock splits, or other distributions on shares of Common Stock if appropriate adjustments are made in connection with such issuance pursuant to Sections 4(e)(iii), (iv) or (v) of the
Company’s Amended and Restated Certificate of Incorporation and (viii) shares of Preferred Stock issued pursuant to the Purchase Agreement. 

(f) “Exempt Transfer” shall mean (i) Transfers of Shares pursuant to a Qualified IPO; (ii) Transfers pursuant to a
Rule 144 Open Market Transaction, (iii) Transfers directly to, or for the benefit of a Holder’s spouse or children, or to trusts, partnerships or any other entity for the benefit of such Person or Person’s family primarily for estate
planning purposes; (iv) Transfers by a Holder to his heirs, executors, personal representatives or other assigns as a result of his death and Transfers by a Holder to the heirs, executors, personal representatives or other assignors of an
Affiliate of such Holder as a result of the death of such Affiliates; (v) Transfers without consideration by a Holder to his or its Affiliates (including with respect to Holders which are partnerships, Transfer to their partners); and
(vi) Transfers by a Major Common Holder through bona fide gifts of up to an aggregate maximum of five percent (5%) of all Shares held by such Major Common Holder on the Effective Date; provided, however, that (x) Major Common Holders
shall only be permitted to Transfer Shares which are fully vested and/or no longer subject to any repurchase right in favor of the Company and (y) any such Transfer shall not be to any entity deemed in good faith by the Board to be a
competitor, or Affiliate of a competitor, of the Company. In addition, any Transferee pursuant to (iii), (iv), (v) and (vi) above, prior to the effectiveness of any Transfer, must first agree to be bound by Sections 6, 7, 8 and 10 of this
Agreement. 
 (g) “Form S-3” shall mean such form under the Securities Act as in effect on the date hereof or any
registration form under the Securities Act subsequently adopted by the Securities and Exchange Commission (the “SEC”) which permits inclusion or incorporation of substantial information by reference to other documents filed by the
Company with the SEC. 
 (h) “Holder” shall mean any Person owning or having the right to acquire Registrable Securities or
any assignee thereof in accordance with Section 2.11 hereof; provided, however, that a Major Common Holder shall only be deemed a Holder for the purposes of Sections 2.2, 2.4, 2.5, 2.6, 2.7, 2.8, 2.12 and 2.13 and shall not be entitled to any
of the other rights granted to Holders under this Agreement. 
 (i) “Major Common Holder” shall mean any Person, other than
any Investor (as defined in the Purchase Agreement) participating in any Closing (as defined in the Purchase Agreement) and any other owner of Preferred Stock on the Effective Date, who at any time after the Effective Date is an employee of the
Company and owns and/or has the right to acquire shares of Common Stock which, in the aggregate, are equal to at least one percent (1.0%) of all Shares. 

(j) “New Securities” shall mean any capital stock (or rights to acquire capital stock) of the Company other than Excluded
Securities. 

  
 3 

 (k) “Preferred Stock” shall mean shares of the Company’s Series D-2 Stock,
Series C-2 Preferred Stock, Series B-2 Preferred Stock and Series A-2 Preferred Stock, $0.001 par value per share. 
 (l)
“Person” shall mean an individual or company, partnership, limited liability company, trust, or any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 

(m) “Qualified IPO” shall mean the closing of a firm commitment underwritten public offering pursuant to an effective
registration statement under the Securities Act covering the offer and sale of Common Stock for the account of the Company to the public in which the public offering price exceeds (prior to underwriter discounts or commissions and offering expenses)
$2.88 per share (adjusted for any subsequent stock splits, stock dividends, reclassifications or recapitalizations) and the aggregate gross proceeds raised by the Company equal or exceed $35,000,000. 

(n) “register,” “registered,” and “registration” refer to a registration effected by
preparing and filing a registration statement or similar document in compliance with the Securities Act and the declaration or ordering of effectiveness of such registration statement or document. 

(o) “Registrable Securities” shall mean (i) the Common Stock issuable or issued upon conversion of the Preferred Stock;
(ii) any Common Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of,
any Preferred Stock; (iii) with respect to Sections 2.2, 2.4, 2.5, 2.6, 2.7, 2.8, 2.12 and 2.13 only, any Common Stock held by a Major Common Holder and (iv) the Common Stock issued upon the conversion or execution of any notes or warrants
of the Company which notes or warrants were issued and outstanding prior to the execution of the Purchase Agreement; excluding in all cases, however, (1) any Shares sold by a Person in a transaction in which such person’s rights under
Section 2 hereof are not assigned, or (2) any Shares sold to or through a broker or dealer or underwriter in a public distribution or a public securities transaction. 

(p) The number of shares of “Registrable Securities then outstanding” shall be determined by the number of shares of Common
Stock outstanding which are, and the number of shares of Common Stock issuable pursuant to then exercisable or convertible securities which are, Registrable Securities. 

(q) “Rule 144 Open Market Transaction” shall mean any bona fide public sale of Shares in an open market transaction under
Rule 144 of the Securities Act (or any successor rule) if such sale is in compliance with the requirements of paragraphs (c), (d), (e), (f) and (g) of such Rule 144. 

(r) “Securities Act;’ means the Securities Act of 1933, as amended, or any similar Federal statute and the rules and
regulations of the SEC thereunder, all as the same shall be in effect at the time. 

  
 4 

 (s) “Shares” shall mean, collectively, (a) all issued and outstanding
shares of Common Stock, (b) all shares of Common Stock issuable under outstanding options, warrants and other rights of any kind to purchase Common Stock, directly or indirectly, and (c) all shares of Common Stock issuable pursuant to
outstanding securities convertible into or exchangeable for Common Stock, directly or indirectly. Whenever this Agreement refers to a number or percentage of Shares, such number or percentage shall be calculated as if each of the Shares had been
exchanged, exercised or converted into shares of Common Stock immediately prior to such calculation. For purposes of determining the number of Shares held by any Person, such Person shall be deemed to hold all Shares held by such Person’s
Affiliates. The total number of Shares held by all Major Common Holders and all Holders as of the Effective Date is listed on Exhibit A. 

(t) The term “Transfer” shall mean (i) when used as a noun: any direct or indirect transfer, sale, short sale,
assignment, pledge, hypothecation, encumbrance, gift, bequest, devise, descent or other disposition and (ii) when used as a verb: to directly or indirectly, whether voluntary, involuntarily, or by operation of law, transfer, sell, short sell,
assign, pledge, hypothecate, encumber, gift, bequest, devise, descent or otherwise dispose of. 
 (u) “Transferee” shall
mean any Person to whom Shares have been Transferred in compliance with the terms of this Agreement. 
 2. Registration Rights. 

2.1 Request for Registration. 

(a) If the Company shall receive at any time after the earlier of (i) three years from the date of this Agreement or (ii) six
(6) months following the effective date of the first registration statement for a public offering of securities of the Company (other than a registration statement relating either to the sale of securities to employees of the Company pursuant
to a stock option, stock purchase or similar plan or a SEC Rule 145 transaction) (the “Initial Registration”), a written request from the Holders of at least thirty (30%) of the Registrable Securities then outstanding (the
“Initiating Holders”) that the Company file a registration statement under the Securities Act covering the registration of Registrable Securities with an aggregate offering price expected to exceed $10,000,000, then the Company
shall, within ten (10) days of the receipt thereof, give written notice of such request to all Holders and shall, subject to the limitations of Section 2.1(b), use its best efforts to effect as soon as practicable the registration under
the Securities Act of all Registrable Securities which the Holders request to be registered within twenty (20) days of the mailing of such written notice by the Company; provided, however, that the Company shall not be obligated to take any
action to effect any such registration, qualification or compliance pursuant to this Section 2.1(a): 
 (i) During the period starting
with the date one-hundred twenty (120) days prior to the Company’s estimated date of filing of, and ending on the date one-hundred eighty (180) days immediately following the effective date of, any registration statement pertaining to
securities of the Company (other than a registration of securities in a Rule 145 transaction or with respect to an employee benefit plan), provided that the Company is actively employing in good faith all reasonable efforts to cause such
registration statement to become effective; 

  
 5 

 (ii) After the Company has effected two (2) such registrations pursuant to this
Section 2.1 (a), and each such registration has been declared or ordered effective (counting for these purposes only registrations which have been declared or ordered effective); 

(iii) If the Company shall furnish to such Holders a certificate signed by the Chief Executive Officer or President of the Company stating
that in the good faith judgment of the Board it would be seriously detrimental to the Company or its stockholders for a registration statement to be filed at such time, then the Company’s obligation to use its best efforts to register, qualify
or comply under this Section 2.1(a) shall be deferred for a period not to exceed 120 days from the date of receipt of the written request from the Holders; provided, however, that the Company may not utilize this right more than once in any
twelve-month period. 
 (b) If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of
an underwriting, they shall so advise the Company as a part of their request made pursuant to this Section 2.1 and the Company shall include such information in the written notice referred to in Section 2.1(a). In such event, the right of
any Holder to include such Holder’s Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting
(unless otherwise mutually agreed by a majority in interest of the Initiating Holders and such Holder) to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with the Company as
provided in Section 2.3(e)) enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by the Company with the approval of a majority in interest of the Initiating Holders.
Notwithstanding any other provision of this Section 2.1, if the underwriter advises the Initiating Holders in writing that marketing factors require a limitation of the number of shares to be underwritten, then the Initiating Holders shall so
advise all Holders of Registrable Securities which would otherwise be underwritten pursuant hereto, and the number of shares of Registrable Securities that may be included in the underwriting shall be allocated among all Holders thereof, including
the Initiating Holders, in the proportion (as nearly as practicable) that the amount of Registrable Securities of the Company owned by each Holder participating in such underwriting bears to the number of shares of Registrable Securities held by all
such Holders; provided, however, that the number of shares of Registrable Securities to be included in any such underwriting shall not be reduced unless all other securities, including any shares offered by the Company, are first entirely excluded
from the underwriting. 
 2.2 Company Registration. If (but without any obligation to do so) the Company proposes to register
(including for this purpose a registration effected by the Company for stockholders other than the Holders, but excluding any registration pursuant to Section 2.10 hereof) any of its stock or other securities under the Securities Act in
connection with the public offering of such securities solely for cash (other than a registration relating solely to the sale of securities to participants in a Company stock plan, or a registration on any form which does not include substantially
the same information as would be required to be included in a registration 

  
 6 

 
statement covering the sale of the Registrable Securities), the Company shall, at such time, promptly give each Holder written notice of such registration. Upon the written request of each Holder
given within twenty (20) days after mailing of written notice by the Company, the Company shall, subject to the provisions of Section 2.6, cause to be registered under the Securities Act all of the Registrable Securities that each such
Holder has requested to be registered. The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2.2 prior to the effectiveness of such registration whether or not any Holder has elected to
include securities in such registration. The registration expenses of such withdrawn registration shall be borne by the Company in accordance with Section 2.5 hereof. The underwriting and cut-back requirements for any registration under this
Section 2.2 are as set forth in Section 2.6 hereof. 
 2.3 Obligations of the Company. Whenever required under this
Section 2 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible: 
 (a)
Prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its best efforts to cause such registration statement to become effective, and, upon the request of the holders of a majority of the
Registrable Securities registered thereunder, keep such registration statement effective for the earlier of one hundred twenty (120) days or until the distribution described in the Registration Statement has been completed if a shorter period
(the “Effectiveness Period”); provided, however, that (i) the Effectiveness Period shall be extended for a period of time equal to the period the Holder refrains from selling any securities included in such registration at the
request of an underwriter of Common Stock (or other securities) of the Company; and (ii) in the case of any registration of Registrable Securities on Form S-3 which are intended to be offered on a continuous or delayed basis, the Effectiveness
Period shall be extended, if necessary, to keep the registration statement effective until all such Registrable Securities are sold up to 180 days, provided that Rule 415, or any successor rule under the Securities Act, permits an offering on a
continuous or delayed basis, and provided further that applicable rules under the Securities Act governing the obligation to file a post effective amendment permit, in lieu of filing a post effective amendment which (A) includes any prospectus
required by Section 10(a)(3) of the Securities Act or (B) reflects facts or events representing a material or fundamental change in the information set forth in the registration statement, the incorporation by reference of information
required to be included in (A) and (B) above to be contained in periodic reports filed pursuant to Section 13 or 15(d) of the Exchange Act in the registration statement. 

(b) Prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection with
such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement. 

(c) Furnish to the Holders such numbers of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements of
the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them. 

  
 7 

 (d) Use its best efforts to register and qualify the securities covered by such registration
statement under the other securities or Blue Sky laws of such other jurisdictions as shall be reasonably requested by the Holders, provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do
business or to file a general consent to service of process in any such states or jurisdictions. 
 (e) In the event of any underwritten
public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering. Each Holder participating in such underwriting shall also enter into and perform
its obligations under such an agreement. 
 (f) Notify each Holder covered by such registration statement at any time when a prospectus
relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or
omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing, and, as promptly as practicable thereafter, prepare and file with the SEC, and
furnish without charge to the appropriate Holders and managing underwriters, if any, a supplement or amendment to such registration statement or prospectus which will correct such statement or omission and such copies thereof as the Holders and any
underwriters may reasonably request. 
 (g) Cause all such Registrable Securities registered pursuant hereunder to be listed on each
securities exchange or automated quotation system on which similar securities issued by the Company are then listed. 
 (h) Provide a
transfer agent and registrar for all Registrable Securities registered pursuant hereunder and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration. 

(i) Furnish, at the request of any Holder requesting registration of Registrable Securities pursuant to this Section 2, on the date that
such Registrable Securities are delivered to the underwriters for sale in connection with a registration pursuant to this Section 2, if such securities are being sold through underwriters, or, if such securities are not being sold through
underwriters, on the date that the registration statement with respect to such securities becomes effective, (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such registration, in form and substance
as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and (ii) a letter dated such date, from the independent certified public accountants of the Company, in form and substance as is
customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities (to the extent the then
applicable standards of professional conduct permit said letter to be addressed to the Holders). 
 (j) Use its best efforts to comply with,
and remain in compliance with the Sarbanes-Oxley Act of 2002, as amended. 

  
 8 

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

2.5 Expenses of Registration. The Company shall bear and pay all expenses incurred in connection with any registration, filing or
qualification of Registrable Securities with respect to the registrations pursuant to Sections 2.1, 2.2 and 2.10 for each Holder (which right may be assigned as provided in Section 2.11), including (without limitation) all registration, filing,
and qualification fees, printers and accounting fees relating or apportionable thereto, and the reasonable fees and expenses of one counsel selected by the selling Holders to represent the selling Holders, but excluding stock transfer taxes and any
underwriting discounts and commissions relating to Registrable Securities. 
 2.6 Underwriting Requirements. In connection with any
offering involving an underwriting of shares being issued by the Company, the Company shall not be required under Section 2.2 to include any of the Holders’ securities in such underwriting unless they accept the terms of the underwriting
as agreed upon between the Company and the underwriters selected by it (or by other persons entitled to select the underwriters), and then only in such quantity as will not, in the opinion of the underwriters, jeopardize the success of the offering
by the Company, but in no event will the amount of Registrable Securities of the selling Holders included in the offering be reduced below thirty percent (30%) of the total amount of securities included in such offering, unless such offering is
the Initial Registration, in which case the selling Holders may be excluded entirely if the underwriters make the determination described above and no other stockholder’s securities are included. If the underwriter determines in good faith that
marketing factors require a limitation in the number of shares to be underwritten, subject to the limitations set forth herein, the number of shares that may be included in the underwriting shall be allocated first, to the Company; second to Holders
other than Major Common Holders on a pro rata basis based on the ratio of the number of Registrable Securities then held by such Holders to the aggregate number of Registrable Securities then outstanding; third to Major Common Holders on a pro rata
basis based on the ratio of the number of Registrable Securities then held by such Major Common Holders to the aggregate number of Registrable Securities then outstanding; and fourth to any other stockholder of the Company (other than a Holder) on a
pro rata basis. For purposes of apportionment, any selling stockholder which is a Holder of Registrable Securities and which is a partnership or corporation, the partners, retired partners and stockholders of such Holder, or the estates and family
members of any such partners and retired partners and any trusts for the benefit of any of the foregoing persons shall be deemed to be a single “selling stockholder,” and any pro rata reduction with respect to such “selling
stockholder” shall be based upon the aggregate amount of shares carrying registration rights owned by all entities and individuals included in such “selling stockholder,” as defined in this sentence. 

2.7 Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any such
registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 

  
 9 

 2.8 Indemnification. In the event any Registrable Securities are included in a
registration statement under this Section 2: 
 (a) The Company will indemnify and hold harmless each Holder, the officers, directors,
partners, members and Affiliates of each Holder, any underwriter (as defined in the Securities Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act,
against any losses, claims, damages, or liabilities (joint or several) to which they may become subject under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in
respect thereto) arise out of or are based upon any of the following statements, omissions or violations (collectively a “Violation”) (i) any untrue statement or alleged untrue statement of a material fact contained in such
registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state therein a material fact required to be stated therein,
or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities
Act, the Exchange Act or any state securities law; and the Company will pay to each such Holder, officer, director and Affiliate of such Holder, underwriter or controlling person, as incurred, any legal or other expenses reasonably incurred by them
in connection with investigating or defending any such loss, claim, damage, liability, or action; provided, however, that the indemnity agreement contained in this Section 2.8(a) shall not apply to amounts paid in settlement of any such loss,
claim, damage, liability, or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld), nor shall the Company be liable in any such case for any such loss, claim, damage, liability,
or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by any such Holder, officer,
director or Affiliate of such Holder, underwriter or controlling person. 
 (b) Each selling Holder will indemnify and hold harmless the
Company, each of its directors, each of its officers who has signed the registration statement, each person, if any, who controls the Company within the meaning of the Securities Act, any underwriter, any other Holder selling securities in such
registration statement and any officer, director, Affiliate or controlling person of any such underwriter or other Holder, against any losses, claims, damages, or liabilities (joint or several) to which any of the foregoing persons may become
subject, under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and
only to the extent) that such Violation occurs in reliance upon and in conformity with written information furnished by such Holder expressly for use in connection with such registration; and each such Holder will pay, as incurred, any legal or
other expenses reasonably incurred by any Person intended to be indemnified pursuant to this Section 2.8(b), in connection with investigating or defending any such loss, claim, damage, liability, or action; provided, however, that the indemnity
agreement contained in this Section 2.8(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Holder, which consent shall not be
unreasonably withheld; provided, that, in no event shall any indemnity under this Section 2.8(b) exceed the net proceeds from the offering received by such Holder. 

  
 10 

 (c) Promptly after receipt by an indemnified party under this Section 2.8 of notice of the
commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 2.8, deliver to the indemnifying party a written notice
of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with
counsel mutually satisfactory to the parties; provided, however, that an indemnified party shall have the right to retain its own counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party
by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written
notice to the indemnifying party within a reasonable time of the commencement of any such action, if materially prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under
this Section 2.8, but the omission so to deliver written notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 2.8. 

(d) If the indemnification provided for in this Section 2.8 is held by a court of competent jurisdiction to be unavailable to an
indemnified party with respect to any loss, liability, claim, damage or expense referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such
indemnified party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with
the statements or omissions that resulted in such loss, liability, claim, damage or expense as well as any other relevant equitable considerations; provided, that, in no event shall any contribution by a Holder under this Section 2.8(d),
together with any amounts under Section 2.8(b), exceed the gross proceeds from the offering received by such Holder, except in the case of willful fraud by such Holder. The relative fault of the indemnifying party and of the indemnified party
shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party
and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

(e) Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting
agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control; provided, that, in no event shall any contribution or
indemnification by such selling Holder under the provisions in such underwriting agreement exceed the gross proceeds from the offering received by such selling Holder. 

  
 11 

 (f) The obligations of the Company and Holders under this Section 2.8 shall survive the
completion of any offering of Registrable Securities in a registration statement under this Section 2, and otherwise. 
 2.9 Reports
Under Securities Exchange Act of 1934. With a view to making available to the Holders the benefits of Rule 144 promulgated under the Securities Act and any other rule or regulation of the SEC that may at any time permit a Holder to sell
securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company agrees to: 
 (a) make
and keep public information available, as those terms are understood and defined in SEC Rule 144, at all times after the effective date of the first registration statement filed by the Company for the offering of its securities to the general
public; 
 (b) take such action, including the voluntary registration of its Common Stock under Section 12 of the Exchange Act, as is
necessary to enable the Holders to utilize Form S-3 for the sale of their Registrable Securities, such action to be taken as soon as practicable after the end of the fiscal year in which the first registration statement filed by the Company for the
offering of its securities to the general public is declared effective; 
 (c) file with the SEC in a timely manner all reports and other
documents required of the Company under the Securities Act and the Exchange Act; and 
 (d) furnish to any Holder, so long as the Holder
owns any Registrable Securities, forthwith upon request (i) a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety (90) days after the effective date of the first
registration statement filed by the Company), the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3
(at any time after it so qualifies), (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested in
availing any Holder of any rule or regulation of the SEC which permits the selling of any such securities without registration or pursuant to such form. 

2.10 Form S-3 Registration. If the Company receives from any Holder or Holders of Registrable Securities a written request or requests
that the Company effect a registration on Form S-3 and any related qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or Holders, the Company will: 

(a) promptly give written notice of the proposed registration, and any related qualification or compliance, to all other Holders; and 

(b) as soon as practicable, effect such registration and all such qualifications and compliances as may be so requested and as would permit or
facilitate the sale and distribution of all or such portion of such Holder’s or Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other Holder or
Holders joining in such request as are specified in a written request given within fifteen (15) days after receipt of such written notice from the Company; provided, however, that 

  
 12 

 
the Company shall not be obligated to effect any such registration, qualification or compliance, pursuant to this Section 2.10: (1) if Form S-3 is not available for such offering by the
Holders; (2) if the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at an aggregate price to the
public of less than $1,000,000; (3) if the Company shall furnish to the Holders a certificate signed by the Chief Executive Officer or President of the Company stating that in the good faith judgment of the Board, it would be seriously
detrimental to the Company and its stockholders for such Form S-3 Registration to be effected at such time, in which event the Company shall have the right to defer the filing of the Form S-3 registration statement for a period of not more than 90
days after receipt of the request of the Holder or Holders under this Section 2.10; provided, however, that the Company shall not utilize this right more than once in any twelve (12) month period; (4) in any particular jurisdiction in
which the Company would be required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification or compliance; or (5) if the Company has effected two (2) registrations on
Form S-3 at the request of the Holders during the prior twelve (12) month period. 
 (c) If the Holders initiating the registration
request hereunder (the “Participating Holders”) intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as part of their request made pursuant to this
Section and the Company shall include such information in the written notice referred to in Section 2.10(a). In such event, the right of any Holder to include such Holder’s Registrable Securities in such registration shall be conditioned
upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting (unless otherwise mutually agreed by a majority in interest of the Participating Holders and such Holder)
to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with the Company as provided in Section 2.3(e)) enter into an underwriting agreement in customary form with the
underwriter or underwriters selected for such underwriting by a majority in interest of the Participating Holders. Notwithstanding any other provision of this Section 2.10, if the underwriter advises the Participating Holders in writing that
marketing factors require a limitation of the number of shares to be underwritten, then the Participating Holders shall so advise all Holders of Registrable Securities which would otherwise be underwritten pursuant hereto, and the number of shares
of Registrable Securities that may be included in the underwriting shall be allocated among all Holders thereof, including the Participating Holders, in the proportion (as nearly as practicable) that the amount of Registrable Securities of the
Company owned by each Holder bears to the number of shares of Registrable Securities then outstanding; provided, however, that the number of shares of Registrable Securities to be included in any such underwriting shall not be reduced unless all
other securities, including any shares offered by the Company, are first entirely excluded from the underwriting. 
 (d) Subject to the
foregoing, the Company shall file a registration statement covering the Registrable Securities and other securities so requested to be registered as soon as practicable after receipt of the request or requests of the Holders. All expenses incurred
in connection with a registration requested pursuant to Section 2.10, including (without limitation) all registration, filing, qualification, printer’s and accounting fees, fees and disbursements of counsel for the Company and fees and
disbursements of one counsel for the 

  
 13 

 
selling Holder or Holders, but excluding stock transfer taxes, and any underwriter discounts or commissions associated with Registrable Securities, shall be borne by the Company. Registrations
effected pursuant to this Section 2.10 shall not be counted as the demand for registration or registrations effected pursuant to Sections 2.1 or 2.2, respectively. 

2.11 Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this
Section 2 may be assigned by a Holder to any of the following Transferees or assignees of Registrable Securities: (A) any such Transferee or assignee who holds, subsequent to such Transfer, twenty-five percent (25%) of the total
number of shares of Registrable Securities (as adjusted for stock splits, bonuses, combinations, and the like) held by the transferor-Holder; or (B) any such Transferee or assignee who holds, subsequent to such Transfer, five percent
(5%) of the total number of then-outstanding shares of Preferred Stock; or (C) a partner, limited partner, former partner, member, former member, stockholder, subsidiary, wholly-owned entity, parent or other Affiliate of a Holder; or
(D) a Holder’s family member or trust for the benefit of an individual Holder or any family member; provided that (i) the Company is, within a reasonable time after such Transfer, furnished with written notice of the name and address
of such Transferee or assignee and the securities with respect to which such registration rights are being assigned and (ii) such assignment shall be effective only if immediately following such Transfer the Transferee agrees in writing to, and
is bound by the terms and conditions of, this Agreement and such Transfer of any Registrable Securities is lawful under all applicable securities laws. 

2.12 “Market Stand-Off’ Agreement. Each Holder shall not sell or otherwise transfer, make any short sale of, grant any option
for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, of any Common Stock (or other securities) of the Company held by such Holder (other than those included in the registration) during the
one hundred eighty (180) day period following the effective date of the Initial Registration (or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (i) the publication or other
distribution of research reports and (ii) analyst recommendations and opinions, including but not limited to, the restrictions contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto);
provided, however, that all officers and directors of the Company and holders of at least one percent (1%) of the Company’s voting securities are bound by and have entered into similar agreements. 

In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to the Registrable Securities of
each Investor (and the shares or securities of every other Person subject to the foregoing restriction) until the end of such period. 
 2.13
Termination of Registration Rights. No Holder shall be entitled to exercise any right provided for in Sections 2.1, 2.2 and 2.10 after the earlier of (i) five (5) years following the consummation of the Qualified IPO, or
(ii) as to a given Holder, when such Holder can sell all of such Holder’s Registrable Securities in a consecutive ninety (90) day period pursuant to a Rule 144 Open Market Transaction. 

  
 14 

 2.14 Amendment of Registration Rights. Any provision of this Section 2 may be amended
and the observance thereof may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the Holders of at least sixty percent (60%) of the Registrable
Securities then outstanding. Any amendment or waiver effected in accordance with this Section 2.14 shall be binding upon each Holder, Major Common Holder and the Company. 

2.15 Limitations on Subsequent Registration Rights. The Company shall not, without the prior written consent of the Holders of at least
sixty percent (60%) of the Registrable Securities, enter into any agreement (other than this Agreement) with any holder or prospective holder of any securities of the Company which would allow such holder or prospective holder (a) to
include securities of the Company in any registration statement upon terms which are the same or more favorable to such holder or prospective holder than the terms on which holders of Registrable Shares may include shares in such registration unless
such inclusion will not result in any reduction of the Registrable Securities included in such registration statement by the Holders or (b) to make a demand registration which could result in such registration statement being declared effective
prior to the dates set forth in Section 2.1. 
 3. Information Rights. 

3.1 Inspection. The Company shall permit each Holder holding (together with its Affiliates) an aggregate of at least 2,000,000 shares of
Preferred Stock (appropriately adjusted for stock splits, stock dividends, recapitalizations, and the like) (each, a “Major Holder” and collectively, the “Major Holders”), at such Major Holder’s expense, to
visit and inspect the Company’s properties, to examine its books of account and records and to discuss the Company’s affairs, finances and accounts with its officers, at the Company’s principal executive offices, at such reasonable
times as may be requested by such Holder; provided, however, that the Company shall not be obligated pursuant to this Section 3.1 to provide access to any information which the Board determines in reasonably and in good faith is a trade secret
or similar confidential information unless such Major Holder agrees in writing to hold such information in confidence. 
 3.2 Delivery of
Financial Statements. The Company shall deliver to each Major Holder: 
 (a) as soon as practicable, but in no event later than thirty
(30) days prior to the end of the Company’s fiscal year, an annual capital budget and operating plan for the Company for the following fiscal year; 

(b) as soon as practicable, but in no event later than one hundred eighty (180) days after the end of each fiscal year of the Company
(unless otherwise waived by the Board (including all of the Preferred Stock Directors)), an audited balance sheet dated as of the last day of the applicable fiscal year, and statements of operations, cash flow and stockholders’ equity for such
fiscal year. Such year-end financial reports to be in reasonable detail, prepared in accordance with generally accepted accounting principles (“GAAP”), and audited and certified by independent public accountants of nationally
recognized standing approved by the Company’s Board, including a majority of the Preferred Stock Directors; 

  
 15 

 (c) within thirty (30) days of the end of each fiscal quarter of the Company, an unaudited
statement of operations and cash flow, and a balance sheet for and as of the end of such quarter, in reasonable detail and prepared in accordance with GAAP, subject to year end audit adjustments and the absence of footnotes; and 

(d) as soon as practicable after the end of each month, and in any event within twenty (20) days thereafter, an unaudited statement of
operations and cash flow and balance sheet for such month, in reasonable detail and prepared in accordance with GAAP, subject to year end audit adjustments and the absence of footnotes. 

3.3 Maintenance of Books. The Company will maintain true books and records of account in which full and correct entries will be made of
all its business transactions pursuant to a system of accounting established and administered in accordance with generally accepted accounting principles consistently applied (except as noted therein), and will set aside on its books all such proper
accruals and reserves as shall be required under generally accepted accounting principles consistently applied. 
 3.4 Sarbanes-Oxley
Compliance. At any time after the eighteen (18) month anniversary of the Effective Date, upon request of a majority of the Preferred Stock Directors, the Company shall diligently, promptly and expeditiously undertake and implement such
reasonable procedures and controls related to financial reporting and measurement as would be required of a reporting Company under the Sarbanes-Oxley Act of 2002 (as amended and in effect at such time). 

3.5 Termination of Information Rights. The covenants set forth in this Section 3 shall terminate as to Major Holders and be of no
further force and effect upon the earlier to occur of (i) the consummation of the Qualified IPO or (ii) the closing date of an Acquisition. 

4. Investors’ Right of First Offer. 

4.1 Right of First Offer. The Company hereby grants to each Major Holder, on the terms set forth in this Section 4, a right of
first offer to purchase all or any part of such Major Holder’s Pro Rata Share (as defined below) of the New Securities which the Company may, from time to time, propose to sell and issue (the “Right of First Offer”). The Major
Holders may purchase said New Securities on the same terms and at the same price at which the Company proposes to sell the New Securities. For the purposes of this Section 4, a Major Holder’s “Pro Rata Share” shall be that
portion of the New Securities which equals the proportion that the number of shares of Common Stock (assuming conversion of all Shares then held by such Major Holder into Common Stock) then held by such Major Holder bears to the total number of
Shares then outstanding. 
 4.2 Notice of Proposed Issuance. In the event the Company proposes to undertake an issuance of New
Securities, it shall deliver to the Major Holders written notice (the “Notice”) of its intention, describing the type of New Securities, the price, the terms upon which the Company proposes to issue the same, the date of the
proposed issuance and a statement as to the number of days from receipt of such Notice within which the Major Holders must respond to such Notice. The Major Holders shall have twenty (20) days from the date of receipt of the

  
 16 

 
Notice to purchase any or all of the New Securities for the price and upon the terms specified in the Notice by giving written notice to the Company and stating therein the quantity of New
Securities to be purchased and forwarding payment for such New Securities to the Company if immediate payment is required by such terms, or in any event no later than the date of the proposed issuance as set forth in the Notice. If not all of the
Major Holders elect to purchase their Pro Rata Share of the New Securities, then the Company shall promptly notify in writing the Major Holders who do so elect to purchase all of their Pro Rata Share of the New Securities and shall offer such
subscribing Major Holder the right to acquire their Pro Rata Share of any unsubscribed New Securities. Each subscribing Major Holder shall have five (5) days after receipt of such notice (the “Overallotment Notice Period”) to
notify the Company in writing of its election to purchase all of its Pro Rata Share of the unsubscribed New Securities. If the Major Holders fail to exercise in full their Right of First Offer hereunder, the Company may sell any unsubscribed New
Securities for which such Major Holder’s Right of First Offer was not exercised, at a price and upon terms and conditions no more favorable then specified in the Notice, within sixty (60) days of the end of the Overallotment Notice Period.

 4.3 Transfer of Rights. The Right of First Offer granted under this Section 4 may not be assigned or transferred, except that
such right is assignable or transferable in the same circumstances as set forth for the transfer of registration rights set forth in Section 2.11 hereof; provided, however, that the provisions of this Section 4 shall be binding upon any
such assignee or Transferee. 
 4.4 Termination of Rights. The Right of First Offer granted under this Section 4 shall expire
upon the earlier to occur of the consummation of (i) a Qualified IPO or (ii) an Acquisition. 
 4.5 Limitations on Subsequent
Rights. The Company shall not, without the prior written consent of at least sixty percent (60%) of the Registrable Securities then held by the Major Holders, enter into any agreement (other than this Agreement) with any holder or
prospective holder of any securities of the Company which would grant such holder or prospective holder senior or superior first offer rights as to issuances of New Securities. 

5. Employee Matters. 
 5.1
Proprietary Rights Agreement. Except as set forth in the Schedule of Exceptions attached to the Purchase Agreement, each current employee and consultant has and each future employee and consultant of the Company will enter into a proprietary
information and inventions assignment agreement (which shall include a waiver of their moral rights in all intellectual property developed in connection with their employment with or work for the Company, as well as a non-solicitation covenant).

 5.2 Voting By Major Common Holders. In addition to the obligations set forth in Section 6, at all times that any Major Common
Holder is an employee or consultant of the Company, and at all times following the termination of employment, each Major Common Holder hereby covenants to and shall vote his or her Shares, whether at an annual meeting, special meeting or by written
consent, in a manner consistent with the majority of all other holders of Shares. 

  
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 6. Board of Directors. 

6.1 Board Representation. In accordance with Section 3(b) of Article IV of the Company’s Amended and Restated Certificate of
Incorporation (as the same may be further amended from time to time, the “Restated Certificate”), the Company hereby agrees to take such actions as are necessary, and each of the Holders and Major Common Holders agrees to vote his,
her or its Shares, including in accordance with any cumulative voting requirements, if applicable, and take such other actions as are necessary, to cause the Board to consist of nine (9) directors and to elect, whether at an annual meeting,
special meeting or by written consent, and thereafter continue in office as directors of the Company as follows: 
 (a) so long as SAP
Ventures Fund I, L.P. (“SAPV”) or its Affiliates, holds at least 1,000,000 shares of Series D-2 Stock (appropriately adjusted for stock splits, stock dividends, recapitalizations, and the like), one (1) person nominated by SAPV
shall be elected a director of the Company (the “Series D-2 Director”) to serve as the Series D-2 Director (as defined in the Restated Certificate); 

(b) so long as Adams Street 2011 Direct Fund, L.P. (the “ASP Direct Fund”) or its Affiliates, holds at least 1,000,000 shares
of Series B-2 Stock (appropriately adjusted for stock splits, stock dividends, recapitalizations, and the like), one (1) person nominated by ASP Direct Fund, or Adams Street Partners, LLC (together with the ASP Direct Fund,
“ASP”), if the ASP Direct Fund ceases to hold Shares, shall be elected a director of the Company (the “Series B-2 Director”) to serve as the Series B-2 Director (as defined in the Restated Certificate); 

(c) so long as Hummer Winblad Venture Partners V, L.P. (“HWVP”) or its Affiliates holds at least 2,000,000 Shares
(appropriately adjusted for stock splits, stock dividends, recapitalizations, and the like), one (1) person nominated by HWVP shall be elected a director of the Company (the “HWVP Series A-2 Director”) to serve as one of the
Series A-2 Directors (as defined in the Restated Certificate); 
 (d) so long as Partech U.S. Partners IV, LLC or its Affiliates
(“PIV”) holds at least 2,000,000 Shares (appropriately adjusted for stock splits, stock dividends, recapitalizations, and the like), one (1) person nominated by PIV shall be elected a director of the Company (the “PIV
Series A-2 Director” and, collectively with the HWVP Series A-2 Director, the “Series A-2 Directors”) to serve as one of the Series A-2 Directors; 

(e) one (1) person nominated by the unanimous approval of the directors then in office shall be elected a director of the Company to
serve as the Preferred Director (as defined in the Restated Certificate), and collectively with the Series A-2 Directors, the Series B-2 Director and the Series D-2 Director, the “Preferred Stock Directors”; 

(f) the then Chief Executive Officer of the Company shall be elected a director of the Company to serve as the Common Stock Director (as
defined in the Restated Certificate); and 

  
 18 

 (g) three (3) persons nominated by the unanimous approval of the Preferred Stock Directors
and the Common Stock Director shall be elected directors of the Company to serve as the Mutual Directors (as defined in the Restated Certificate). 

6.2 Board of Directors. As of the Effective Date, the Board shall consist of the following individuals: 

 

					
		 	Jai Das	  	Series D-2 Director
			
		 	David Welsh	  	Series B-2 Director
			
		 	Tim Wilson	  	PIV Series A-2 Director
			
		 	Mitchell Kertzman	  	HWVP Series A-2 Director
			
		 	Kimberly Alexy	  	Preferred Director
			
		 	Michael Burkland	  	Common Stock Director
			
		 	Jack Acosta	  	Mutual Director
			
		 	David DeWalt	  	Mutual Director

 6.3 Removals; Vacancies. The Company hereby agrees to take such actions as necessary, and each of the
Major Common Holders and Holders agrees to vote a sufficient number of his, her or its Shares, including in accordance with any cumulative voting requirements, if applicable, and take such other actions as are necessary: 

(a) for the removal of any director upon the request of the party or parties entitled to nominate such director (as provided in
Section 6.1) and for the election to the Board of a substitute director nominated by such party or parties entitled to elect such replacement director in accordance with the provisions of Section 6.1; 

(b) to ensure that any vacancy on the Board (occurring for any reason) shall be filled only in accordance with the provisions of
Section 6.1; and 
 (c) to remove any former Chief Executive Officer of the Company from the Board immediately upon his or her ceasing
to be the Chief Executive Officer of the Company for any reason. 
 6.4 Board Meetings. Unless otherwise approved by the Board
(including a majority of the Preferred Stock Directors), the Board shall hold at least one (1) Board meeting per month. 
 6.5 Board
Observer Rights. In the event that any of SAPV, ASP, HWVP, Mosaic Venture Partners or PIV no longer have the right to designate a director to the Board pursuant to the provisions of this Section 6, such Holder shall have the right to
designate a representative (“Observer”) to attend all meetings of the Board, at its own expense, in a 

  
 19 

 
non-voting observer capacity, and, in this respect, the Company shall, at the Company’s expense, give such Observer copies of all notices, minutes and other materials that it provides to its
directors; provided, however, that the Observer shall agree to hold in confidence and trust all information so provided to the same extent as if the Observer was a member of the Board, provided, further, that other than maintaining such
confidentiality, such Observer shall have no duties (fiduciary or otherwise) to the Company. Meetings to be held by telephone conference and actions to be taken by consent shall not be prohibited provided notice is given to the Observer consistent
with that provided to the directors. Notwithstanding the foregoing, the Company reserves the right to exclude such Observer from any meeting or decline to provide such Observer with access to any notices, minutes, consents or other materials
(“Materials”) provided to the directors by the Company if the Company reasonably believes, upon advice of counsel, that such exclusion is reasonably necessary to preserve the attorney-client privilege, or if in the Company’s
reasonable judgment such exclusion from the meeting or the access to the Materials is necessary either to protect the highly confidential and sensitive nature of the subject matter of the Board discussion, because of a potential or actual conflict
of interest involving such Holder or its Observer, or because of the competitive nature of such subject matter. 
 6.6 No Liability for
Election of Recommended Directors; Manner of Voting. None of the Company, any Major Common Holder, any Holder, nor any officer, director, stockholder, partner, employee or agent of any such party, makes any representation or warranty as to the
fitness or competence of the nominee of any other party hereunder to serve on the Board by virtue of such party’s execution of this Agreement or by the act of such party in voting for such nominee pursuant to this Agreement. The voting of
Shares pursuant to this Agreement may be effected in person, by proxy, by written consent, or in any other manner permitted by applicable law. 

6.7 Covenants of the Company. The Company agrees to use its best efforts to ensure that the rights granted hereunder are effective and
that the parties hereto enjoy the benefits thereof. Such actions include, without limitation, the use of the Company’s best efforts to cause the nomination and election of the directors as provided above. The Company will not, by any voluntary
action, avoid or seek to avoid the observance or performance of any of the terms to be performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all of the provisions of this Agreement and in the taking of
all such actions as may be necessary, appropriate or reasonable in order to protect the rights of the parties hereunder against impairment. 

6.8 Additional Shares. In the event that following the Effective Date any shares or other securities (other than any shares or
securities of another corporation issued to the Company’s stockholders pursuant to any Acquisition) are issued to any Holder or Major Common Holder on, or in exchange for, any of the Shares by reason of any stock dividend, stock split,
consolidation of shares, reclassification or consolidation involving the Company, such shares or securities shall be deemed to be Shares for purposes of this Agreement and subject to the provisions hereof. 

6.9 Termination. The provisions of this Section 6 shall terminate and shall be of no further force and effect on the earliest to
occur of the consummation of (i) a Qualified IPO or (ii) an Acquisition. 

  
 20 

 7. Drag-Along Rights. 

7.1 Right to Compel Sale. If Holders holding at least sixty percent (60%) of the then outstanding shares of Common Stock issued or
issuable upon conversion of the Preferred Stock (collectively the “Approving Stockholders”) and the Board, including a majority of the Preferred Stock Directors, approve an Acquisition (the “Approved Sale”), then
each and every one of the Major Common Holders and Holders, including the Approving Stockholders (the “Constituent Stockholders”), agrees, subject to the final sentence of this Section 7.1, to (i) be present, in person or
by proxy, as a holder of Shares, at all meetings for the vote of any of the above matters (and can be counted for the purposes of determining a quorum at such meetings) and vote all of their Shares in favor of the Approved Sale and in opposition of
any proposals that could reasonably be expected to delay or impair the consummation of the Approved Sale, (ii) raise no objections to the Approved Sale or the process pursuant to which the Approved Sale was arranged, (iii) refrain from
exercising any dissenters’ rights or rights of appraisal under applicable law at any time with respect to the Approved Sale, (iv) take all actions required in connection with the Approved Sale, including without limitation voting all of
his, her or its Shares in favor of any matter that could reasonably be expected to facilitate the Approved Sale; and if the Approved Sale is structured as a sale of the stock of the Company, each Constituent Stockholder agrees that it shall sell its
Shares on the terms and conditions approved by the Approving Stockholders and the Board and (v) to cooperate with and execute and deliver such other documents as may be reasonably requested in connection with the transactions contemplated by
the Approved Sale, including, without limitation, documents containing representations and warranties as to title, power and authority, such other representations, warranties and covenants as are approved by the Approving Stockholders and returning
any written consent related to the Approved Sale in a prompt manner. Notwithstanding the foregoing, a Constituent Stockholder will only be required to take the actions set forth above in connection with an Approved Sale if (A) the terms of an
Approved Sale do not provide that such Constituent Stockholder would receive less than the amount that would be distributed to such Constituent Stockholder in the event the proceeds of the sale of the Company were distributed in accordance with the
Company’s Certificate of Incorporation, as amended and in effect at such time; (B) all indemnification, escrow and other liabilities are allocated on a pro rata basis; (C) such Constituent Stockholder is not required to make
representations and warranties or covenants regarding the Company or any other stockholder of the Company, (D) such Constituent Stockholder is not required to assume liability that exceeds the proceeds received by such Constituent Stockholder
in the Approved Sale (other than for fraud or willful misrepresentation by such Constituent Stockholder) and (E) such Constituent Stockholder is not required to agree to a non-competition or non-solicitation covenant in connection with the
Approved Sale. 
 7.2 Exercise of Right. The Approving Stockholders shall exercise their rights hereunder by delivery of written
notice (the “Approved Transfer Notice”) to the Company, and the Company shall deliver the Approved Transfer Notice to the other Constituent Stockholders at least fifteen (15) days prior to the expected closing date (the
“Expected Closing Date”) of the transactions contemplated by the Approved Sale. The Approved Transfer Notice shall include the form and amount of consideration per Share to be paid to each Approving Stockholder and Constituent
Stockholder and all other material terms and conditions of the Approved Sale. If required to consummate the Approved Sale, on or before ten (10) days prior to the Expected Closing Date, each of the Constituent Stockholders shall deliver to the
transfer agent of the 

  
 21 

 
Company certificates representing the Shares held by such Constituent Stockholder, free and clear of any and all liens and encumbrances whatsoever, together with such other documents and
instruments of transfer that the third-party acquiring the Company may reasonably request. 
 7.3 Failure to Consummate the Approved
Sale. If within ninety (90) days after the Expected Closing Date, the Company and the Approving Stockholders have not completed the Approved Sale (unless such failure is due to any Constituent Stockholder’s failure to surrender for
transfer his or its certificates or take such other reasonable actions required to consummate the Approved Sale), the Company shall return to each of the Constituent Stockholders all stock certificates previously surrendered by the Constituent
Stockholders in connection with the proposed Approved Sale, and all the restrictions on transfers contained herein with respect to the Shares of the Company shall again be in effect. Such a failure to complete the Approved Sale shall not be a breach
of any Approving Stockholder’s obligations under this Agreement and shall not constitute a waiver of the rights of the Approving Stockholders to again exercise their rights under this Section 7 at any time thereafter. 

7.4 Legend on Share Certificates. Each certificate representing any Shares shall be endorsed by the Company with a legend reading
substantially as follows: 
 “THE SHARES EVIDENCED HEREBY ARE SUBJECT TO A STOCKHOLDERS’ AGREEMENT (AS AMENDED AND IN EFFECT FROM
TIME TO TIME), A COPY OF WHICH MAY BE OBTAINED UPON WRITTEN REQUEST FROM THE ISSUER, AND BY ACCEPTING ANY INTEREST IN SUCH SHARES THE PERSON ACCEPTING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF SAID
AGREEMENT.” 
 7.5 Termination. The provisions of this Section 7 shall terminate and shall be of no further force and effect
on the earliest to occur of the consummation of (i) a Qualified IPO or (ii) an Acquisition. 
 8. Transfers by Major Common
Holders. 
 8.1 Offering Notice. A Major Common Holder who proposes to Transfer any Shares other than in any Exempt Transfer (a
“Transferring Major Common Holder”) shall give the Company and all Major Holders (the “Right Holders”) written notice (the “Offering Notice”) of his, her or its intention to sell Shares (the
“Offered Shares”), describing the Offered Shares (including the number of shares proposed to be sold and the proposed Transferee of the shares), the price and all other material terms and conditions upon which the Transferring Major Common
Holder proposes to Transfer the Offered Shares. The Offering Notice shall be signed by (i) the Transferring Major Common Holder or his, her or its respective representative, and (ii) the proposed Transferee, and the Offering Notice shall
constitute a binding agreement for the transfer of the Shares subject only to the First Refusal Right and Co-Sale Right (each as defined herein). 

  
 22 

 8.2 The Company’s Option to Purchase. Within twenty (20) days after receipt of
the Offering Notice containing all required information, the Company may elect to purchase any or all of the Offered Shares on the terms set forth in the Offering Notice, by delivery of written notice of such election to the Transferring Major
Common Holder. Should the Company fail to purchase all of the Offered Shares in the manner provided above, the Company shall promptly give written notice (the “Right Holders Notice”) to the Right Holders, specifying the number of
Offered Shares not purchased by the Company (the “Remaining Shares”). 
 8.3 Co-Sale and Right of First Refusal
Rights. 
 (a) Co-Sale/Right of First Refusal. Subject to the Company’s purchase rights under Section 8.2 above, each
Right Holder shall have, pursuant to the terms of this Agreement, at its option, with respect to any proposed Transfer of any Shares by a Transferring Major Common Holder, either a right to sell (the “Co-Sale Right”) or a right to
purchase (a “First Refusal Right”) up to its applicable Ratable Portion (as defined below) of the Offered Shares or Remaining Shares, as the case may be, at the same price and on the same terms and conditions as contained in the
Offering Notice from the Transferring Major Common Holder. For the purposes of this Section 8, “Ratable Portion” shall mean: (i) with regard to the First Refusal Right, a number of Shares equal to the product obtained by
multiplying (A) the aggregate number of Remaining Shares by (B) a fraction, (x) the numerator of which is the number of Shares at the time owned by such Right Holder, and (y) the denominator of which is the number of Shares then
held by all Right Holders desiring to exercise the First Refusal Right, and (ii) with regard to the Co-Sale Right, a number of Shares equal to the product obtained by multiplying (A) the aggregate number of Remaining Shares by (B) a
fraction, (x) the numerator of which is the number of Shares at the time owned by such Right Holder and (y) the denominator of which is the number of Shares then held by the Transferring Major Common Holder and all of the Right Holders
that desire to exercise the Co-Sale Right. 
 (b) Exercise of Co-Sale/Right of First Refusal. Each Right Holder shall have twenty
(20) days from receipt of the Right Holders Notice to exercise either its Co-Sale Right or its First Refusal Right with respect to the Remaining Shares in connection with such proposed Transfer by giving written notice to the Company and the
Transferring Major Common Holder and stating therein (i) the number of Remaining Shares such Right Holder desires to purchase under the First Refusal Right, whether less than, equal to or greater than its Ratable Portion and (ii) if such
Right Holder elects not to exercise its First Refusal Right, the number of Offered Shares such Right Holder desires to sell under its Co-Sale Right, whether less than, equal to, or greater than its Ratable Portion. If any Right Holder fails to
exercise (x) its right to purchase all of its Ratable Portion under the First Refusal Right or (y) its rights to sell all of its Ratable Portion under the Co-Sale Right, the Right Holders requesting to purchase or sell, as the case may be,
shares in excess of their Ratable Portion (the “Overallotment Amount”) shall either purchase the number of the Remaining Shares as to which the First Refusal Rights were not exercised, or sell the number of Offered Shares as to
which Co-Sale Rights were not exercised, on a Ratable Portion basis among such Right Holders until all Overallotment Amounts have been allocated among such Right Holders. Within five (5) days thereafter, the Company shall give notice (the
“Final Notice”) to each Right Holder and the Transferring Major Common Holder as to (i) the exact number of Offered Shares that each Right Holder has elected to purchase, if the First Refusal Right is being fully exercised, or
(ii) the number of shares each Right Holder will be selling, if the Co-Sale Right is exercised. 

  
 23 

 (c) Consummation of First Refusal Rights Purchase. 

(i) Purchase by the Company or Right Holders of Any Offered Shares. Should the Company and/or the Right Holders elect to purchase some
or all of the Offered Shares, then on the later to occur of (i) the date set for consummation of the purchase under the Offering Notice, or (ii) fifteen (15) days after receipt of the Final Notice, any Right Holders participating in
the purchase, shall deliver to the Company’s outside legal counsel or other agent agreed upon by a majority of the participating Holders on the one hand and the Transferring Major Common Holder on the other (the “Escrow
Holder”), such cash, notes, or other instruments as may be required to consummate their purchase. The Transferring Major Common Holder shall contemporaneously deliver the certificates evidencing the Offered Shares, together with
blank stock transfer powers to the Escrow Holder. The Escrow Holder shall consummate the purchase in accordance with this Agreement by delivering the consideration for the Offered Shares to the Transferring Major Common Holder, causing any Remaining
Shares purchased by Right Holders to be transferred to the names of the Right Holders on the books of the Company and canceling the certificates representing that portion of the Offered Shares purchased by the Company. The purchase by a Right Holder
of any Offered Shares under the First Refusal Right is also subject in all cases to the execution and delivery by the Transferring Major Common Holder of a warranty that the Transferring Major Common Holder owns good and marketable title to such
Offered Shares, free of all liens, encumbrances and claims of others and otherwise and has received all necessary consents to effect the Transfer, reasonably satisfactory in form and substance to such Right Holder and its legal counsel. The purchase
price shall be paid, at the election of each Right Holder, either (i) in accordance with the terms contained in the Offering Notice or (ii) by wire transfer of immediately available funds, delivery of a check representing good funds,
cancellation of indebtedness, or any combination of the foregoing. 
 (ii) Failure of the Company or Right Holders to Purchase All of the
Offered Shares. Should the Company and/or the Right Holders not elect to purchase all of the Offered Shares, then, subject only to the right of Co-Sale set forth in Section 8.3(d) below, the Transferring Major Common Holder shall be
entitled to Transfer the Offered Shares that are not purchased by the Company and/or the Right Holders to the proposed Transferee at the price specified in the Offering Notice and on other terms and conditions not materially different than those set
forth in the Offering Notice; provided, however, that such Transfer must be consummated within ninety (90) calendar days after delivery of the Offering Notice to the Company and the other Right Holders, and any proposed sale of such Offered
Shares after such ninety (90) day period may be made only by again complying with the procedures set forth above; provided that the Transferee prior to the effectiveness of the Transfer agrees to be bound by the terms of this Agreement. 

(d) Right of Co-Sale Exercise. Notwithstanding anything to the contrary in Section 8.3(c)(ii), the Transferring Major Common
Holder shall not be entitled to Transfer to the proposed Transferee, pursuant to the terms of the Offering Notice, more than that number of Offered Shares which equals the difference between (A)(i) the number of shares of Offered Shares as to which
the Co-Sale Rights are exercised by the Right Holders, if any, plus (ii) the number of shares of Offered Shares as to which the First Refusal Right was exercised, and (B) the total number of Remaining Shares. Subject to the foregoing, the
proposed Transferee shall purchase all Offered Shares from the Right Holders, if any, that such Right Holders have exercised their Co-Sale Rights, and the Transferring Major Common Holder simultaneously, if applicable. 

  
 24 

 8.4 Termination of Transfer Restrictions. The first refusal and co-sale rights granted
under this Section 8 shall terminate upon the consummation of (i) a Qualified IPO, or (ii) an Acquisition, whichever is earlier to occur. 

9. Covenants. 
 9.1
Special Board Approval Rights; Preferred Stock Protective Provisions. The Company shall not do or take any of the following actions without the prior approval of a majority of the Board, which approval shall include a majority of the
Preferred Stock Directors: 
 (a) grant an exclusive license with respect to any material part of the Company’s intellectual property;

 (b) enter into any strategic alliance, partnership, joint venture or other transaction that is material to the business of the Company or
otherwise out of the ordinary course of business; provided, however that this Section 9.1(b) shall not apply to customary original equipment manufacturer agreements, distribution agreements, non-exclusive licenses and other non-material
agreements and arrangements; 
 (c) grant a security interest over any assets of the Company, except for customary factoring agreements which
may require the Company to grant a security interest in or to its account receivables; 
 (d) make any single (or series of related) capital
expenditure in excess of $250,000 unless such expenditure was disclosed in a budget previously approved by the Board; 
 (e) incur any
indebtedness, other than trade payables and other indebtedness incurred in the ordinary course; 
 (f) give any guarantees or financial
assistance to third parties; 
 (g) remove or replace the Chief Executive Officer of the Company; 

(h) increase the remuneration of officers of the Company, or pay any bonus or other compensation to any employee or consultant of the Company
in excess of $5,000, individually, unless such expenditure was disclosed in a budget previously approved by the Board; 
 (i) acquire any
real property; 
 (j) change its auditors or accountants; or 

(k) make any material change in the Company’s accounting policies. 

  
 25 

 9.2 Stock Vesting. Unless otherwise approved by the Board of Directors (including a
majority of the Preferred Stock Directors) or issued pursuant to agreements in effect as of the Effective Date, all existing and future stock options and other stock equivalents (an “Equity Award”) issued to employees, directors,
consultants and other service providers as initial grants shall not provide for acceleration of vesting and shall be subject to vesting as follows: (a) twenty-five percent (25%) of such Equity Award shall vest at the end of the first year
following the earlier of the date of issuance or such person’s services commencement date with the Company, and (b) 1/36th of the balance of such Equity Award shall vest ratably over the
subsequent thirty-six (36) months. 
 9.3 Repurchase Rights. Unless otherwise approved by the Board of Directors (including a
majority of the Preferred Stock Directors), the Company will have the right to repurchase unvested restricted stock issued to employees, directors, consultants and other service providers at the holder’s cost upon termination of employment or
the cessation of providing services to the Company (for any reason, with or without cause). 
 9.4 Transfer of Shares. Unless
otherwise approved by the Board of Directors (including a majority of the Preferred Stock Directors), the terms of any options or restricted stock issued by the Company shall prohibit the transfer of unvested shares by the holder and shall grant the
Company a right of first refusal with respect to the transfer of vested shares. 
 9.5 Major Common Holders. The Company will use its
commercially reasonable efforts to ensure that each Person who becomes a Major Common Holder after the Effective Date will be added as a party to this Agreement and will be bound by its terms. 

9.6 Termination of Covenants. The covenants of the Company contained in this Section 9 shall terminate and not be applicable upon
the consummation of (i) a Qualified IPO, or (ii) an Acquisition, whichever is earlier to occur. 
 10. Miscellaneous
Matters.  
 10.1 Waivers and Amendments. Any term of this Agreement may be amended and the observance of any term of this
Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the holders of at least sixty percent (60%) of the Registrable Securities then
outstanding; provided, however, that (i) any amendment or waiver with respect to Section 6 shall require the vote or written consent of SAPV, ASP, PIV and HWVP, (ii) so long as at least 1,000,000 shares of Series B-2 Stock are issued
and outstanding, any amendment or waiver with respect to Section 7 shall require the vote or written consent of the holders of at least fifty percent (50%) of the then outstanding shares of Common Stock issued or issuable upon conversion
of the Series B-2 Stock, (iii) so long as at least 1,000,000 shares of Series D-2 Stock are issued and outstanding, any amendment or waiver with respect to Section 7 shall require the vote or written consent of the holders of at least
fifty percent (50%) of the then outstanding shares of Common Stock issued or issuable upon conversion of the Series D-2 Stock and (iv) any amendment or waiver that affects the rights or obligations of one Holder in a materially different
manner than any other Holder shall require the vote or written consent of such Holder. Notwithstanding the foregoing, any additional investors who purchase Registrable Securities may be added as parties to this Agreement without the consent of any
of the holders of Registrable Securities. 

  
 26 

 10.2 Notices. All notices and other communications required or permitted hereunder shall
be in writing and, except as otherwise noted herein, shall be deemed effectively given upon personal delivery, delivery by nationally recognized courier or upon deposit with the United States Post Office, (by first class mail, postage prepaid)
addressed: (a) if to the Company, to the attention of the Chief Executive Officer at the address of the Company’s principal executive office (or at such other address as the Company shall have furnished to the Holders in writing),
(b) if to a Holder, at the latest address of such person shown on the Company’s records and (c) if to a Major Common Holder, at the latest address of such person shown on the Company’s records. 

10.3 Descriptive Headings. The descriptive headings herein have been inserted for convenience only and shall not be deemed to limit or
otherwise affect the construction of any provisions hereof. 
 10.4 Governing Law. This Agreement shall be governed by and interpreted
under the laws of the State of Delaware as applied to agreements among Delaware residents, made and to be performed entirely within the State of Delaware without reference to the law of conflicts. 

10.5 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an
original and all of which shall constitute the same instrument, but only one of which need be produced. 
 10.6 Expenses. If any
action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorney’s fees, costs and necessary disbursements in addition to any other relief to which such
party may be entitled. 
 10.7 Specific Enforcement; Grant of Proxy. It is agreed and understood that monetary damages would not
adequately compensate an injured party for the breach of this Agreement by any party, that this Agreement shall be specifically enforceable, and that any breach or threatened breach of this Agreement shall be the proper subject of a temporary or
permanent injunction or restraining order. Further, each party hereto waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach. Should the provisions of this Agreement be construed to constitute the
granting of proxies, such proxies shall be deemed coupled with an interest and are irrevocable for the term of this Agreement. 
 10.8
Successors and Assigns. Except as otherwise expressly provided in this Agreement, this Agreement shall benefit and bind the successors, assigns, heirs, executors and administrators of the parties to this Agreement. 

10.9 Entire Agreement. This Agreement, together with the Purchase Agreement, constitutes the full and entire understanding and agreement
between the parties with regard to the subject matter hereof. This Agreement amends, supersedes and replaces in its entirety all other agreements between or among any of the parties with respect to the subject matter hereof and, upon the execution
hereof by the requisite parties, the Prior Stockholders’ Agreement is hereby terminated in its entirety. 

  
 27 

 10.10 Separability; Severability. Unless expressly provided in this Agreement, the rights
and obligations of each Holder under this Agreement are several and not jointly held with any other Holders. Any invalidity, illegality or limitation on the enforceability of this Agreement with respect to any Holder shall not affect the validity,
legality or enforceability of this Agreement with respect to the other Holders. If any provision of this Agreement is judicially determined to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions shall not be affected or impaired. 
 10.11 Stock Splits. All references to numbers of shares in this Agreement shall be
appropriately adjusted to reflect any stock dividend, split, combination or other recapitalization of shares by the Company occurring after the Effective Date. 

10.12 Aggregation of Stock. All shares of the Preferred Stock held or acquired by Affiliated entities or Persons shall be aggregated
together for the purpose of determining the availability of any rights under this Agreement. 
 10.13 Amendment of Prior
Stockholders’ Agreement. The Prior Stockholders’ Agreement is hereby amended in its entirety and restated herein. All provisions of, rights granted and covenants made in the Prior Stockholders’ Agreement are hereby waived,
released and superseded in their entirety and shall have no further force or effect. 
 10.14 Irrevocable Proxy and Power of Attorney.
Each party to this Agreement hereby constitutes and appoints as the proxy of the party and hereby grants a power of attorney to the Chief Executive Officer of the Company, with full power of substitution, with respect to the election of persons as
members of the Board in accordance with Section 6 hereto and votes regarding any Approved Sale pursuant to Section 7 hereof, and hereby authorizes the Chief Executive Officer of the Company to represent and to vote, if and only if the
party (i) fails to vote or (ii) attempts to vote (whether by proxy, in person or by written consent), in a manner which is inconsistent with the terms of Section 6 or Section 7 of this Agreement, all of such party’s Shares
in favor of the election of persons as members of the Board determined pursuant to and in accordance with the terms and provisions of this Agreement or approval of any Approved Sale pursuant to and in accordance with the terms and provisions of
Sections 6 and 7, respectively, of this Agreement or to take any action necessary to effect Sections 6 and 7, respectively, of this Agreement. Each of the proxy and power of attorney granted pursuant to the immediately preceding sentence is given in
consideration of the agreements and covenants of the Company and the parties in connection with the transactions contemplated by this Agreement and, as such, each is coupled with an interest and shall be irrevocable unless and until this Agreement
terminates or expires or if earlier, until Section 6 or Section 7 terminates, as applicable. Each party hereto hereby revokes any and all previous proxies or powers of attorney with respect to the Shares and shall not hereafter, unless and
until this Agreement terminates or expires or if earlier, until Section 6 or Section 7 terminates, as applicable, purport to grant any other proxy or power of attorney with respect to any of the Shares, deposit any of the Shares into a
voting trust or enter into any agreement (other than this Agreement), arrangement or understanding with any person, directly or indirectly, to vote, grant any proxy or give instructions with respect to the voting of any of the Shares, in each case,
with respect to any of the matters set forth herein. 
 [Remainder of Page Intentionally Left Blank] 

  
 28 

 IN WITNESS WHEREOF, the parties have executed this Eighth Amended and Restated Stockholders’
Agreement on the Effective Date. 
  

	
	 Five9, Inc.

	
	 /s/ Michael Burkland

	 Name: Michael Burkland

	 Title: Chief Executive Officer

  
 (Signature Page to
Eighth Amended and Restated Stockholders’ Agreement) 

 
	
	 “HOLDER”

	
	 SAP VENTURES FUND I, L.P.

	By: SAP Ventures (GPE) I, L.L.C., a Delaware limited liability company, its general partner
	
	 /s/ David Hartwig

	 Name: David Hartwig

Title: Managing Member

	
	By: SAP Ventures (GPE) I, L.L.C., a Delaware limited liability company, its general partner
	
	 /s/ R. Douglas Higgins

	 Name: R. Douglas Higgins

	 Title: Managing Member

  
 (Signature Page to
Eighth Amended and Restated Stockholders’ Agreement) 

 
	
	 “HOLDER”
  

ADAMS STREET 2008 DIRECT FUND, L.P.

	 By: ASP 2008 Direct Management, LLC, Its General Partner

By: Adams Street Partners, LLC, Its Managing Member

	
	/s/ David Welsh
	Name: David Welsh
	Title: Partner
	
	“HOLDER”
	
	ADAMS STREET 2009 DIRECT FUND, L.P.
	 By: ASP 2009 Direct Management, LLC, Its General Partner

By: Adams Street Partners, LLC, Its Managing Member

	
	/s/ David Welsh
	Name: David Welsh
	Title: Partner
	
	“HOLDER”
	
	ADAMS STREET 2010 DIRECT FUND, L.P.
	 By: ASP 2010 Direct Management, LLC, Its General Partner

By: Adams Street Partners, LLC, Its Managing Member

	
	/s/ David Welsh
	Name: David Welsh
	Title: Partner
	
	“HOLDER”
	
	ADAMS STREET 2011 DIRECT FUND LP
	 By: ASP 2011 Direct Management LP, Its General Partner

By: ASP 2011 Direct Management LLC, Its General Partner
 By: Adams
Street Partners, LLC, Its Managing Member

	
	/s/ David Welsh
	Name: David Welsh
	Title: Partner

  
 (Signature Page to
Eighth Amended and Restated Stockholders’ Agreement) 

 
	
	 “HOLDER”

	
	 Hummer Winblad Venture Partners V, L.P.

as nominee for

Hummer Winblad Venture Partners V, L.P. and

Hummer Winblad Equity Partners V, L.L.C., its General Partner

	
	 /s/ Mitchell Kertzman

	 Name: Mitchell Kertzman

	 Title: Managing Director

  
 (Signature Page to
Eighth Amended and Restated Stockholders’ Agreement) 

 
	
	 “HOLDER”

	
	 Mosaic Venture Partners II, Limited Partnership

	     By: 1369904 Ontario, Inc., its general partner

	
	 
	 Name: David Samuel

	 Title: General Partner

  
 (Signature Page to
Eighth Amended and Restated Stockholders’ Agreement) 

 
	
	 “HOLDER”

	
	 Partech U.S. Partners IV LLC

	
	 /s/ Nicolas El Baze

	 Name: Nicolas El Baze

	 Title: Attorney-in-fact

	
	 “HOLDER”

	
	 Partech International Growth Capital I LLC

	
	 /s/ Nicolas El Baze

	 Name: Nicolas El Baze

	 Title: Attorney-in-fact

	
	 “HOLDER”

	
	 Partech International Growth Capital II LLC

	
	 /s/ Nicolas El Baze

	 Name: Nicolas El Baze

	 Title: Attorney-in-fact

	
	 “HOLDER”

	
	 Partech International Growth Capital III LLC

	
	 /s/ Nicolas El Baze

	 Name: Nicolas El Baze

	 Title: Attorney-in-fact

  
 (Signature Page to
Eighth Amended and Restated Stockholders’ Agreement) 

 
	
	 “HOLDER”

	
	 AXA Growth Capital II LP

	
	 /s/ Nicolas El Baze

	 Name: Nicolas El Baze

	 Title: Attorney-in-fact

	
	 “HOLDER”

	
	 45th Parallel LLC

	
	 /s/ Nicolas El Baze

	 Name: Nicolas El Baze

	 Title: Attorney-in-fact

	
	 “HOLDER”

	
	 PAR SF II, LLC

	
	 /s/ Nicolas El Baze

	 Name: Nicolas El Baze

	 Title: Attorney-in-fact

  
 (Signature Page to
Eighth Amended and Restated Stockholders’ Agreement) 

 EXHIBIT A 

SCHEDULE OF MAJOR COMMON HOLDERS 
  

			
	 Name and Address
	  	Shares of Registrable Securities
(including rights thereto)

SCHEDULE OF HOLDERS 
  

					
	 Name and Address
	  	Shares of Registrable Securities
(including rights thereto)	 
	 SAP VENTURES FUND I, L.P.
  

3412 Hillview Avenue

Palo Alto, California USA 94304
	  	 	9,716,824	  
	 ADAMS STREET 2008 DIRECT FUND, L.P.

 
 2500 Sand Hill Road, Suite 100

Menlo Park, CA 94025

Fax: (650) 331-4861
	  	 	10,339,288	  
	 ADAMS STREET 2009 DIRECT FUND, L.P.

 
 2500 Sand Hill Road, Suite 100

Menlo Park, CA 94025

Fax: (650) 331-4861
	  	 	8,942,760	  
	 ADAMS STREET 2010 DIRECT FUND, L.P.

 
 2500 Sand Hill Road, Suite 100

Menlo Park, CA 94025

Fax: (650) 331-4861
	  	 	5,079,969	  
	 Adams Street 2011 Direct Fund LP

 
 2500 Sand Hill Road, Suite 100

Menlo Park, CA 94025

Fax: (650) 331-4861
	  	 	4,336,705	  
	 Hummer Winblad Venture Partners V, L.P.

 
 One Lombard Street

San Francisco,, CA 94111

Fax: (415) 979-9601
	  	 	33,649,533	  

					
	 Mosaic Venture Partners II, Limited Partnership

 
 FlatIron Building

49 Wellington St. East, 3rd Floor

Toronto, ON Canada M5E1C9
	  	 	25,229,861	  
	 Partech U.S. Partners IV LLC

 
 50 California Street, Suite 3200

San Francisco, CA 94111
	  	 	14,053,784	* 
	 Partech International Growth Capital I LLC

 
 50 California Street, Suite 3200

San Francisco, CA 94111
	  	 	2,713,106	  
	 Partech International Growth Capital II LLC

 
 50 California Street, Suite 3200

San Francisco, CA 94111
	  	 	4,469,457	  
	 Partech International Growth Capital III LLC

 
 50 California Street, Suite 3200

San Francisco, CA 94111
	  	 	2,713,110	  
	 AXA Growth Capital II LP
  

50 California Street, Suite 3200

San Francisco, CA 94111
	  	 	1,104,650	  
	 45th Parallel LLC

 
 50 California Street, Suite 3200

San Francisco, CA 94111
	  	 	98,369	  
	 PAR SF II, LLC
  

50 California Street, Suite 3200

San Francisco, CA 94111
	  	 	98,369	  
	 Total
	  	 	122,545,785	  

  

	*	Includes 6,342 shares of the Company’s common stock that may be distributed across affiliate funds of Partech U.S. Partners IV LLC listed in this Exhibit A.

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