Document:

EX-10.1

 Exhibit 10.1 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY OTHER APPLICABLE SECURITIES LAWS AND MAY NOT BE SOLD, PLEDGED,
HYPOTHECATED OR OTHERWISE TRANSFERRED UNDER CIRCUMSTANCES THAT WOULD RESULT IN A VIOLATION OF SUCH LAWS. THIS NOTE IS SUBJECT TO FURTHER RESTRICTIONS ON TRANSFER AS SET FORTH IN THIS NOTE. 

NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THIS NOTE AND THE INDEBTEDNESS EVIDENCED HEREBY AND THE EXERCISE OF ANY RIGHT OR REMEDY IN RESPECT OF SUCH
INDEBTEDNESS ARE SUBJECT TO THE PROVISIONS OF THE SUBORDINATION AGREEMENT, DATED AS OF JUNE 25, 2019 (AS AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME IN ACCORDANCE WITH THE TERMS THEREOF, THE “SUBORDINATION
AGREEMENT”), AMONG SOLAR CAPITAL LTD., A MARYLAND CORPORATION AS “SENIOR CREDITOR” DEFINED THEREIN AND VENUS CONCEPT USA, INC., A DELAWARE CORPORATION, AS “SUBORDINATED CREDITOR” DEFINED THEREIN. IN THE EVENT OF ANY CONFLICT
BETWEEN THE TERMS OF THE SUBORDINATION AGREEMENT AND THIS NOTE, THE TERMS OF THE SUBORDINATION AGREEMENT SHALL GOVERN AND CONTROL. 

RESTORATION ROBOTICS, INC.  

SUBORDINATED PROMISSORY NOTE 
  

			
	U.S. $2,500,000	  	Dated: August 14, 2019

 FOR VALUE RECEIVED, Restoration Robotics, Inc., a Delaware corporation (“Company”),
unconditionally promises to pay Venus Concept USA, Inc., a Delaware corporation (“Lender”), in the manner and at the place hereinafter provided, the lesser of (i) the principal amount of TWO MILLION FIVE HUNDRED THOUSAND UNITED
STATES DOLLARS (U.S. $2,500,000) or (ii) the remaining principal balance of this Subordinated Promissory Note (this “Note”) on November 30, 2019 (the “Maturity Date”) pursuant to the terms of this Note.

 Company also promises to pay interest on the unpaid principal amount hereof from the date hereof until paid in full at a rate per annum
equal to 8.0%; provided that upon the occurrence and following any Event of Default, the unpaid principal amount hereof and any interest not paid when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand
or otherwise (both before as well as after judgment), shall bear interest payable upon demand at a rate that is 4% per annum in excess of the rate of interest otherwise payable under this Note (the “Default Rate”). Interest on this
Note shall be payable in arrears, upon any prepayment of this Note (to the extent accrued on the amount being prepaid) and on the Maturity Date. All computations of interest shall be made by Lender on the basis of a 360 day year, for the
actual number of days elapsed in the relevant period (including the first day but excluding the last day). In no event shall the interest rate payable on this Note exceed the maximum rate of interest permitted to be charged under applicable law.

  
 1 

 1. Funding. Lender agrees to advance the principal amount of this Note
in multiple installments to Company pursuant to the terms and conditions of this Note as follows: 
 (a) $1,000,000 on the
date that is three (3) Business Days following satisfaction of the Tranche A Conditions (the “Tranche A Loan”); 

(b) an additional $1,000,000 on the date that is three (3) Business Days following satisfaction of the Tranche B
Conditions (the “Tranche B Loan”); and 
 (c) an additional $500,000 on the date that is three
(3) Business Days following satisfaction of the Tranche C Conditions (the “Tranche C Loan”). 
 2.
Payments. All payments of principal and interest in respect of this Note shall be made in lawful money of the United States of America in same day funds at the office of Lender located at 255 Consumers Road, Suite 110, Toronto,
ON M2J 1R4, or at such other place as Lender may direct. Whenever any payment on this Note is stated to be due on a day that is not a Business Day, such payment shall instead be made on the next Business Day, and such extension of time shall be
included in the computation of interest payable on this Note. Each payment made hereunder shall be credited first to unpaid fees, costs and expenses, then to interest then due and then the remainder of such payment shall be credited to principal,
and interest shall thereupon cease to accrue upon the principal so credited. Each of Lender and any subsequent holder of this Note agrees, by its acceptance hereof, that before disposing of this Note or any part hereof it will make a notation hereon
of all principal payments previously made hereunder and of the date to which interest hereon has been paid; provided, however, that the failure to make a notation of any payment made on this Note shall not limit or otherwise affect the
obligation of Company hereunder with respect to payments of principal or interest on this Note. 
 3. Prepayments.
Company shall have the right at any time and from time to time to prepay the principal of this Note in whole or in part, without premium or penalty, upon at least 5 Business Days’ prior written notice. Each prepayment hereunder shall be
accompanied by any unpaid interest accrued on the principal amount of the Note being prepaid to the date of such prepayment. 
 4.
Covenants. Company covenants and agrees that until this Note is paid in full it will: 
 (a) promptly
provide to Lender all financial and operational information with respect to Company as Lender may reasonably request; 
 (b)
promptly after the occurrence of an Event of Default or an event, act or condition that, with notice or lapse of time or both, would constitute an Event of Default, provide Lender with a certificate of the chief executive officer or chief financial
officer of Company specifying the nature thereof and Company’s proposed response thereto; 

  
 2 

 (c) maintain and preserve its legal existence, its rights to transact
business and all other rights, franchises and privileges necessary or desirable in the normal course of its business and operations and the ownership of its properties; 

(d) pay and discharge all material taxes, fees, assessments and governmental charges or levies imposed upon it or upon its
properties or assets prior to the date on which penalties attach thereto, and all lawful material claims for labor, materials and supplies which, if unpaid, might become a Lien upon any properties or assets of the Company, except to the extent such
taxes, fees, assessments or governmental charges or levies, or such claims, are being contested in good faith by appropriate proceedings and are adequately reserved against in accordance with GAAP; 

(e) carry and maintain in full force and effect, at its own expense and with financially sound and reputable insurance
companies, insurance in such amounts, with such deductibles and covering such risks as is customarily carried by companies engaged in the same or similar businesses and owning similar properties in the localities where the Company operates; 

(f) keep adequate records and books of account, in which complete entries will be made in accordance with GAAP in all material
respects, reflecting all financial transactions of the Company; 
 (g) comply in all material respects with the requirements
of all applicable laws, rules, regulations and orders of any court or governmental department, commission, board, bureau, agency, or other instrumentality, domestic or foreign, and the terms of any indenture, contract or other instrument to which it
may be a party or under which it or its properties may be bound; 
 (h) maintain and preserve all of its properties necessary
or useful in the proper conduct of its business in good working order and condition in accordance with the general practice of other entities of similar character and size, ordinary wear and tear excepted; 

(i) at any reasonable time and from time to time permit the Lender or any of its agents or representatives to visit and inspect
any of the properties of the Company and to examine and make copies of and abstracts from the records and books of account of the Company, and to discuss the business affairs, finances and accounts of the Company with any of the officers, employees
or accountants of the Company; 
 (j) take any action reasonably requested by the Lender to carry out the purpose and intent
of this Note; and 
 (k) use the proceeds of the loan evidenced by this Note solely for working capital and other general
corporate purposes. 

  
 3 

 5. Representations and Warranties. Company hereby represents and
warrants to Lender that: 
 (a) it is (i) a duly organized and validly existing corporation, (ii) in good standing
or subsisting under the laws of the State of Delaware and (iii) has the power and authority under its certificate of organization or operating agreement to own and operate its properties, to transact the business in which it is now engaged and
to execute and deliver this Note; 
 (b) the Company is qualified to do business and is in good standing in the jurisdictions
in which the failure so to qualify or be in good standing would cause a Material Adverse Change in respect of the Company; 

(c) this Note constitutes the duly authorized, legally valid and binding obligation of Company, enforceable against Company in
accordance with its terms; 
 (d) all consents and grants of approval required to have been granted by any Person in
connection with the execution, delivery and performance of this Note have been granted; 
 (e) the execution, delivery and
performance by Company of this Note do not and will not (i) violate any law, governmental rule or regulation, court order or agreement to which it is subject or by which its properties are bound or the charter documents or operating agreement
of Company or (ii) result in the creation of any lien or other encumbrance with respect to the property of Company; 

(f) except as disclosed pursuant to the Merger Agreement, there is no action, suit, proceeding or governmental investigation
pending or, to the knowledge of Company, threatened against Company or any of their respective assets which could reasonably be expected to have a Material Adverse Change; 

(g) since December 31, 2018 there has not been a Material Adverse Change; and 

(h) the proceeds of the loan evidenced by this Note shall be used by Company for working capital and other general corporate
purposes. 
 6. Events of Default. The occurrence of
any of the following events shall constitute an “Event of Default”: 
 (a) failure of Company to pay any
principal, interest or other amount due under this Note when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise; or 

(b) failure of Company to pay, or the default in the payment of, any amount due under or in respect of any promissory note,
indenture or other agreement or instrument relating to any indebtedness which is in a principal amount in excess of $150,000 and 

  
 4 

 
is owing by Company to which Company is a party or by which Company or any of its property is bound beyond any grace period provided; or the occurrence of any other event or circumstance that,
with notice or lapse of time or both, would permit acceleration of such indebtedness; or 
 (c) failure of Company or any of
its Affiliates, to perform or observe any other term, covenant or agreement to be performed or observed by it pursuant to this Note or the Merger Agreement, which failure is not cured within fifteen (15) days after notice of occurrence thereof
from Lender, or 
 (d) any representation or warranty made by Company or any of its Affiliates, to Lender in connection with
this Note or the Merger Agreement shall prove to have been false in any material respect when made; or 
 (e) suspension of
the usual business activities of Company or the complete or partial liquidation of Company’s business; or 
 (f)
(i) a court having jurisdiction in the premises shall enter a decree or order for relief in respect of Company in an involuntary case under Title 11 of the United States Code entitled “Bankruptcy” (as now and hereinafter in
effect, or any successor thereto, the “Bankruptcy Code”) or any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted
under any applicable federal or state law; or (ii) an involuntary case shall be commenced against Company under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or a decree or order of a court having
jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Company or over all or a substantial part of its property shall have been entered; or the
involuntary appointment of an interim receiver, trustee or other custodian of Company, for all or a substantial part of its property shall have occurred; or a warrant of attachment, execution or similar process shall have been issued against any
substantial part of the property of Company and, in the case of any event described in this clause (ii), such event shall have continued for 45 days unless dismissed, bonded or discharged; or 

(g) an order for relief shall be entered with respect to Company, or Company shall commence a voluntary case under the
Bankruptcy Code or any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or shall consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case,
under any such law, or shall consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property; or Company shall make an assignment for the benefit of creditors; or Company
shall be unable or fail, or shall admit in writing its inability, to pay its debts as such debts become due; or the Board of Directors of Company (or any committee thereof) shall adopt any resolution or otherwise authorize action to approve any of
the foregoing; or 

  
 5 

 (h) Company or any of its Affiliates shall challenge, or institute any
proceedings to challenge, the validity, binding effect or enforceability of this Note or the Merger Agreement or any other obligation to Lender; or 

(i) any provision of this Note or the Merger Agreement shall cease to be in full force or effect or shall be declared to be
null or void or otherwise unenforceable in whole or in part; or 
 (j) a Material Adverse Change with respect to the Company;
or 
 (k) any termination of the Merger Agreement or any breach thereunder by the Company or any of its Affiliates beyond any
applicable grace period therein 
 7. Remedies. Upon the occurrence of any Event of Default specified in
Section 6(f) or 6(g) above, the principal amount of this Note together with accrued interest thereon shall become immediately due and payable, without presentment, demand, notice, protest or other requirements of any kind (all of which are
hereby expressly waived by Company). Upon the occurrence and during the continuance of any other Event of Default Lender may, by written notice to Company, declare the principal amount of this Note together with accrued interest thereon to be due
and payable, and the principal amount of this Note together with such interest shall thereupon immediately become due and payable without presentment, further notice, protest or other requirements of any kind (all of which are hereby expressly
waived by Company). In either case, Lender may, in addition to exercising any other rights and remedies it may have, exercise those rights available to it under this Note and under applicable law. 

8. Definitions. The following terms used in this Note shall have the following meanings (and any of such terms may, unless
the context otherwise requires, be used in the singular or the plural depending on the reference): 
 “Affiliate” means with
respect to any Person, any other Person controlling, controlled by, or under common control with such Person. As used in this definition, “control” (including, with its correlative meanings, “controlled by” and “under common
control with”) means the possession, directly or indirectly, of power to direct or cause the direction of the management and policies of a Person whether through the ownership of voting securities, by contract or otherwise. 

“Business Day” means any day other than (a) a Saturday or Sunday, or (b) a day on which banking institutions are
authorized or required by applicable laws to be closed in New York, New York, San Francisco, California or Israel. 
 “Lien”
has the meaning assigned thereto in the Merger Agreement. 
 “Madryn” means Madryn Health Partners, LP, a Delaware limited
partnership, in its capacity as Administrative Agent (as defined in the Madryn Credit Agreement). 

  
 6 

 “Madryn Credit Agreement” means that certain Credit Agreement dated as of
October 11, 2016, by and among the Lender, certain of the Lender’s affiliates, the Lenders (as defined therein) party thereto and Madryn (as amended, restated, supplemented or otherwise modified from time to time). 

“Material Adverse Change” means (a) a material adverse change in the business, operations or condition (financial or
otherwise) of Company; or (b) a material impairment of (i) the prospect of repayment of any portion of this Note, (ii) the legality, validity or enforceability of this Note or the Merger Agreement, or (iii) the rights and
remedies of Lender under this Note except as the result of the action or inaction of the Lender. 
 “Merger Agreement” means
that certain Agreement and Plan of Merger and Reorganization dated March 15, 2019, among the Company, Radiant Merger Sub Ltd., an entity organized under the laws of Israel and Venus Concept Ltd., as such agreement may be amended, supplement or
otherwise modified in accordance with its terms. 
 “Person” means any individual, corporation, firm, partnership, joint
venture, association, trust, company, syndicate, body corporate, unincorporated organization, or other legal entity, or any governmental agency or political subdivision thereof. 

“Tranche A Conditions” means on or prior to August 30, 2019, the following have occurred: 

(a) Company shall have delivered evidence reasonably satisfactory to Lender that Company has received after August 12,
2019, $2,000,000 of net cash proceeds from the sale and issuance of convertible notes (or similar instrument) issued by the Company with a conversion price of no less than $0.4664 per share, in each case, which were reasonably acceptable to Senior
Creditor and Lender; 
 (b) the representations and warranties of the Company set forth in Section 5 of this Note shall
be true and correct in all material respects (without duplication of any materiality set forth therein) as of the date of the Tranche A Loan; 

(c) no Event of Default shall have occurred and be continuing before or after giving effect to the Tranche A Loan; and 

(d) Company shall deliver to Lender a certificate in form and substance satisfactory to Lender requesting the advance of the
Tranche A Loan and certifying that the Tranche A Conditions have been satisfied and will be satisfied as of the date of the advance of the Tranche A Loan. 

“Tranche B Conditions” means on or prior to September 30, 2019, the following have occurred: 

(a) the Tranche A Conditions were satisfied on or prior to August 30, 2019; 

  
 7 

 (b) the representations and warranties of the Company set forth in
Section 5 of this Note shall be true and correct in all material respects (without duplication of any materiality set forth therein) as of the date of the Tranche B Loan; 

(c) no Event of Default shall have occurred and be continuing before or after giving effect to the Tranche B Loan; and 

(d) Company shall deliver to Lender a certificate in form and substance satisfactory to Lender requesting the advance of the
Tranche B Loan and certifying that the Tranche B Conditions have been satisfied and will be satisfied as of the date of the advance of the Tranche B Loan. 

“Tranche C Conditions” means on or prior to October 15, 2019, the following have occurred: 

(a) the Tranche A Conditions were satisfied on or prior to August 30, 2019; 

(b) the Tranche B Conditions were satisfied on or prior to September 30, 2019; 

(c) the representations and warranties of the Company set forth in Section 5 of this Note shall be true and correct in all
material respects (without duplication of any materiality set forth therein) as of the date of the Tranche C Loan; 
 (d) no
Event of Default shall have occurred and be continuing before or after giving effect to the Tranche C Loan; and 
 (e)
Company shall deliver to Lender a certificate in form and substance satisfactory to Lender requesting the advance of the Tranche C Loan and certifying that the Tranche C Conditions have been satisfied and will be satisfied as of the date of the
advance of the Tranche C Loan. 
 9. Miscellaneous.  

(a) All notices and other communications provided for hereunder shall be in writing (including faxes) and mailed, telecopied,
or delivered as follows: if to Company, at its address specified opposite its signature below; and if to Lender, at 235 Yorkland Blvd, Suite 900, Toronto, ON, M2J 4Y8, attention: Domenic DiSisto, General Counsel, email: ddisisto@venusconcept.com; or
in each case at such other address as shall be designated by Lender or Company. All such notices and communications shall, when mailed, faxed or sent by overnight courier, be effective when deposited in the mails, delivered to the overnight courier,
as the case may be, or sent by fax. Electronic mail may be used to distribute routine communications; provided that no signature with respect to any notice, request, agreement, waiver, amendment, or other documents may be sent by electronic mail.

 (b) Company agrees to indemnify Lender against any losses, claims, damages and liabilities and related expenses, including
reasonable and documented attorneys’ fees and expenses, incurred by Lender arising out of or in connection with or 

  
 8 

 
as a result of the transactions contemplated by this Note, except to the extent that such losses, claims, damages or liabilities (i) result from Lender’s gross negligence or willful
misconduct, as finally determined by a court of competent jurisdiction or (ii) arise under or pursuant to the Merger Agreement. In particular, Company promises to pay all reasonable and documented costs and expenses, including all reasonable
and documented attorneys’ fees and expenses, incurred in connection with the collection and enforcement of this Note. 

(c) No failure or delay on the part of Lender or any other holder of this Note to exercise any right, power or privilege under
this Note and no course of dealing between Company and Lender shall impair such right, power or privilege or operate as a waiver of any default or an acquiescence therein, nor shall any single or partial exercise of any such right, power or
privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies expressly provided in this Note are cumulative to, and not exclusive of, any rights or remedies that Lender
would otherwise have. No notice to or demand on Company in any case shall entitle Company to any other or further notice or demand in similar or other circumstances or constitute a waiver of the right of Lender to any other or further action in any
circumstances without notice or demand. 
 (d) Company and any endorser of this Note hereby consent to renewals and
extensions of time at or after the maturity hereof, without notice, and hereby waive diligence, presentment, protest, demand and notice of every kind and, to the full extent permitted by law, the right to plead any statute of limitations as a
defense to any demand hereunder. 
 (e) THIS NOTE AND THE RIGHTS AND OBLIGATIONS OF COMPANY AND LENDER HEREUNDER SHALL BE
GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.  

(f) ALL JUDICIAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS NOTE SHALL BE BROUGHT AND DETERMINED BY THE COURT OF
CHANCERY OF THE STATE OF DELAWARE OR, IF SUCH COURT DOES NOT HAVE SUBJECT MATTER JURISDICTION, SUPERIOR COURT SEATED IN NEW CASTLE COUNTY DELAWARE (AND IN THE APPROPRIATE APPELLATE COURTS THEREFROM), AND BY EXECUTION AND DELIVERY OF THIS NOTE
COMPANY ACCEPTS FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, GENERALLY AND UNCONDITIONALLY, THE NONEXCLUSIVE JURISDICTION OF THE AFORESAID COURTS AND WAIVES ANY DEFENSE OF FORUM NON CONVENIENS AND IRREVOCABLY AGREES TO BE BOUND BY ANY JUDGMENT
RENDERED THEREBY IN CONNECTION WITH THIS NOTE. Company hereby agrees that service of all process in any such proceeding in any such court may be made by registered or certified mail, return receipt requested, to Company at its address set forth
below its signature hereto, such service being hereby 

  
 9 

 
acknowledged by Company to be sufficient for personal jurisdiction in any action against Company in any such court and to be otherwise effective and binding service in every respect. Nothing
herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of Lender to bring proceedings against Company in the courts of any other jurisdiction. 

(g) COMPANY AND, BY THEIR ACCEPTANCE OF THIS NOTE, LENDER AND ANY SUBSEQUENT HOLDER OF THIS NOTE, HEREBY IRREVOCABLY AGREE
TO WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS NOTE OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS NOTE AND THE LENDER/COMPANY RELATIONSHIP THAT IS BEING
ESTABLISHED. The scope of this waiver is intended to be all-encompassing of any and all disputes that may be filed in any court and that relate to the subject matter of this transaction, including without
limitation contract claims, tort claims, breach of duty claims and all other common law and statutory claims. Company and, by their acceptance of this Note, Lender and any subsequent holder of this Note, each (i) acknowledges that this waiver
is a material inducement to enter into a business relationship, that the other parties have already relied on this waiver in entering into this relationship, and that each party will continue to rely on this waiver in their related future dealings
and (ii) further warrants and represents that it has reviewed this waiver with its legal counsel and that it knowingly and voluntarily waives its jury trial rights following consultation with legal counsel. THIS WAIVER IS IRREVOCABLE,
MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS OF THIS NOTE. In the event of litigation, this provision may be filed as a written
consent to a trial by the court. 
 (h) Company hereby waives the benefit of any statute or rule of law or judicial decision
which would otherwise require that the provisions of this Note be construed or interpreted most strongly against the party responsible for the drafting thereof. 

[Signature Page Follows.] 

  
 10 

 IN WITNESS WHEREOF, Company has caused this Note to be executed and delivered by its
duly authorized officer, as of the day and year and at the place first above written. 
  

			
	 RESTORATION ROBOTICS, INC., a

Delaware corporation

 
			
		
	By:	 	 /s/ Mark Hair

 
			
	Name: Mark Hair
	Title: Chief Financial Officer
	
	Address: 128 Baytech Drive, San Jose, CA 95134
	Telephone: (408) 883-6888
	Email: markh@restorationrobotics.com

 Signature Page to Subordinated Promissory NoteEX-10.2

 Exhibit 10.2 

RESTORATION ROBOTICS, INC. 

NOTE PURCHASE AGREEMENT 

August 20, 2019 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 1.
	 	 Definitions
	  	 	1	 
			
	 2.
	 	 Sale and Issuance of Notes
	  	 	1	 
		 	 2.1  Closing
	  	 	1	 
			
	 3.
	 	 Terms and Conditions of Notes
	  	 	1	 
			
	 4.
	 	 Representations and Warranties of the Company
	  	 	2	 
		 	 4.1  Organization, Good Standing and Qualification
	  	 	2	 
		 	 4.2  Authorization
	  	 	2	 
		 	 4.3  Compliance with Other Instruments
	  	 	2	 
		 	 4.4  Governmental Consents and Filings
	  	 	2	 
			
	 5.
	 	Representations and Warranties of the Lender	  	 	2	 
		 	 5.1  Authorization
	  	 	2	 
		 	 5.2  Purchase Entirely for Own Account
	  	 	3	 
		 	 5.3  Disclosure of Information
	  	 	3	 
		 	 5.4  Investment Experience
	  	 	3	 
		 	 5.5  Accredited Investor
	  	 	3	 
		 	 5.6  Restricted Securities
	  	 	3	 
		 	 5.7  Legends
	  	 	3	 
			
	 6.
	 	Miscellaneous	  	 	4	 
		 	 6.1  Successors and Assigns
	  	 	4	 
		 	 6.2  Governing Law
	  	 	4	 
		 	 6.3  Counterparts
	  	 	4	 
		 	 6.4  Titles and Subtitles
	  	 	4	 
		 	 6.5  Notices
	  	 	4	 
		 	 6.6  Finder’s Fee
	  	 	5	 
		 	 6.7  Expenses
	  	 	5	 
		 	 6.8  Entire Agreement; Amendments and Waivers
	  	 	5	 
		 	 6.9  Effect of Amendment or Waiver
	  			
		 	 6.10  Severability
	  	 	5	 
		 	 6.11  Stock Purchase Agreement
	  	 	5	 
		 	 6.12  Exculpation Among Lender
	  			
		 	 6.13  Further Assurance
	  	 	5	 
		 	 6.14  Waiver of Jury Trial
	  	 	6	 

  
 i 

 NOTE PURCHASE AGREEMENT 

THIS NOTE PURCHASE AGREEMENT (this “Agreement”) is made as of August 20, 2019, by and among RESTORATION
ROBOTICS, INC., a Delaware corporation (the “Company”), and the lender (the “Lender”) named on the Schedule of Lenders attached hereto (the “Schedule of Lenders”). Capitalized terms not
otherwise defined in this Agreement shall have the meanings ascribed to them in Section 1 below. 
 In consideration of the mutual
promises and covenants contained in this Agreement, the parties hereto agree as follows: 
 1. Definitions. 

(a) “Act” means the Securities Act of 1933, as amended. 

(b) “Common Stock” shall mean the Company’s common stock, $0.0001 par value per share. 

(c) “Financing Shares” shall mean, collectively, the shares of capital stock issued upon conversion or cancellation of the
Notes. 
 (d) “Notes” shall mean the Unsecured Subordinated Convertible Promissory Notes issued to the Lender pursuant to
Section 2 below, the form of which is attached hereto as Exhibit A. 
 (e) “Qualified
Financing” shall have the meaning given to such term in the Notes. 
 2. Sale and Issuance of Notes. 

2.1 Closing. 
 (a) The
closing of the sale and purchase of Notes under this Agreement (the “Closing”) shall take place remotely on August 20, 2019, unless another date, time and place is agreed to in writing by the Company and the Lender (such date,
the “Closing Date”). 
 (b) At the Closing, the Lender agrees to purchase, and the Company agrees to sell and issue to such
Lender, a Note in the principal amount set forth opposite such Lender’s name in the Schedule of Lenders attached hereto under the heading “Principal Amount of Note at Closing”. 

(c) The obligation of the Lender to purchase a Note at the Closing is subject to the Company’s delivery to such Lender, at or before the
Closing, of a Note executed by the Company representing the applicable principal amount. 
 3. Terms and Conditions of Notes. Each
Note shall be convertible into shares of the Company’s capital stock as expressly set forth in such Note and shall contain all other rights and restrictions, and be subject to all other terms and conditions, set forth in the form of Note
attached hereto as Exhibit A. 

 4. Representations and Warranties of the Company. The Company hereby represents and
warrants to the Lender that the following representations are true and complete as of the date hereof and as of the date of each Closing: 

4.1 Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing, and in good standing
under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as now conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the
failure to so qualify would have a material adverse effect on its business or properties. 
 4.2 Authorization. Except for the
authorization and issuance of the shares issuable in connection with the Qualified Financing, all corporate action has been taken on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and
delivery of this Agreement and the Notes. Except as may be limited by applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors’ rights, the Company has taken all corporate action
required to make all of the obligations of the Company reflected in the provisions of this Agreement and the Notes the valid and enforceable obligations they purport to be. 

4.3 Compliance with Other Instruments. Neither the authorization, execution and delivery of this Agreement, nor the issuance and
delivery of the Notes, will constitute or result in a material default or violation of any law or regulation applicable to the Company or any material term or provision of the Company’s Amended and Restated Certificate of Incorporation or its
current bylaws or any material agreement or instrument by which it is bound or to which its properties or assets are subject. 
 4.4
Governmental Consents and Filings. Assuming the accuracy of the representations made by the Purchasers in Section 5 of this Agreement, no consent, approval, order or authorization of, or registration, qualification, designation,
declaration or filing with, any federal, state or local governmental authority is required on the part of the Company in connection with the consummation of the transactions contemplated by this Agreement, except for any required filings pursuant to
applicable state or federal securities laws, which have been made or will be made in a timely manner. 
 5. Representations and Warranties
of the Lenders. The Lender hereby represents and warrants to the Company that the following representations are true and complete as of the date hereof and as of the date of each Closing: 

5.1 Authorization. This Agreement constitutes the Lender’s valid and legally binding obligation, enforceable in accordance with its
terms, except as may be limited by (i) applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors’ rights and (ii) laws relating to the availability of specific
performance, injunctive relief or other equitable remedies. The Lender represents that it has full power and authority to enter into this Agreement. 

  
 2 

 5.2 Purchase Entirely for Own Account. The Lender acknowledges that this Agreement is
made with Lender in reliance upon such Lender’s representation to the Company that the Notes, the Warrants and the Financing Shares (collectively, the “Securities”) will be acquired for investment for Lender’s own account,
not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that such Lender has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this
Agreement, the Lender further represents that the Lender does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participation to such person or to any third person, with respect to the
Securities. 
 5.3 Disclosure of Information. The Lender acknowledges that it has received all the information it considers necessary
or appropriate for deciding whether to acquire the Securities. The Lender further represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Securities.

 5.4 Investment Experience. The Lender is an investor in securities of companies in the development stage and acknowledges that it
is able to fend for itself, can bear the economic risk of its investment and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Securities. If other than
an individual, the Lender also represents it has not been organized solely for the purpose of acquiring the Securities. 
 5.5 Accredited
Investor. The Lender is an “accredited investor” within the meaning of Rule 501 of Regulation D of the Securities and Exchange Commission (the “SEC”), as presently in effect. 

5.6 Restricted Securities. The Lender understands that the Securities are characterized as “restricted securities” under the
federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act only
in certain limited circumstances. The Lender represents that it is familiar with SEC Rule 144, as presently in effect, and understands the resale limitations imposed thereby and by the Act. 

5.7 Legends. It is understood that the Securities may bear the following legend: 

“THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED,
HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR
UNLESS SOLD PURSUANT TO RULE 144 UNDER SUCH ACT.” 

  
 3 

 6. Miscellaneous. 

6.1 Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit
of and be binding upon the respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights,
remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 
 6.2
Governing Law. This Agreement and any controversy arising out of or relating to this Agreement shall be governed by, and construed in accordance with, the laws of the State of New York (without regard to conflict of law principles that would
result in the application of any law other than the law of the State of New York). 
 6.3 Counterparts. This Agreement may be executed
in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

6.4 Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement. 
 6.5 Notices. All notices and other communications given or made pursuant hereto shall be
in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not so confirmed,
then on the next business day, (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally recognized overnight
courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective parties at the following addresses (or at such other addresses as shall be specified by notice given in accordance with
this Section 6.5): 
 If to the Company: 

RESTORATION ROBOTICS, INC. 

128 Baytech Drive 
 San Jose,
California 95134 
 Attention: Chief Financial Officer 

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

Latham & Watkins LLP 

140 Scott Dr. 
 Menlo Park,
California 94025 
 Attention: Brian J. Cuneo, Esq. 

  
 4 

 If to Lender: 

Fred Moll 
 4000 E. Denny
Blaine Place 
 Seattle, WA 98112 

6.6 Finder’s Fee. Each party represents that it neither is nor will be obligated for any finder’s fee or
commission in connection with the transactions contemplated by this Agreement. Lender agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder’s fee (and the costs and
expenses of defending against such liability or asserted liability) for which Lender or any of its officers, partners, employees or representatives is responsible. The Company agrees to indemnify and hold harmless the Lender from any liability for
any commission or compensation in the nature of a finder’s fee (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

 6.7 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 attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. The Company and the Lender will bear their own legal and other expenses with respect
to the transactions contemplated by this Agreement. 
 6.8 Entire Agreement; Amendments and Waivers. This Agreement and the Notes and
the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof. Nonetheless, any term of this Agreement, the Notes may be amended and the
observance of any term of this Agreement, the Notes may be waived (either generally or in a particular instance and either retroactively or prospectively), with the written consent of the Company and the Lender. Any waiver or amendment effected in
accordance with this Section shall be binding upon each party to this Agreement and any holder of any Note purchased under this Agreement at the time outstanding and each future holder of all such Notes. 

6.9 Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be
excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms. 

6.10 Stock Purchase Agreement. The Lender understands and agrees that the conversion of the Notes into Financing Shares may require such
Lender’s execution of certain agreements (in form reasonably agreeable to the Lender) relating to the purchase and sale of such securities. 

6.11 Further Assurance. From time to time, the Company shall execute and deliver to the Lender such additional documents and shall
provide such additional information to the Lender as they may reasonably require to carry out the terms of this Agreement and the Notes and any agreements executed in connection herewith or therewith, or to be informed of the financial and business
conditions and prospects of the Company. 

  
 5 

 6.12 Waiver of Jury Trial. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO
HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, CAUSE OF ACTION, OR PROCEEDING ARISING UNDER OR WITH RESPECT TO THIS AGREEMENT, OR IN ANY WAY CONNECTED WITH, OR RELATED TO, OR INCIDENTAL TO, THE DEALING OF THE
PARTIES HERETO WITH RESPECT TO THIS AGREEMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND IRRESPECTIVE OF WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE. TO THE EXTENT EACH MAY LEGALLY DO SO,
EACH PARTY HERETO HEREBY AGREES THAT ANY SUCH CLAIM, DEMAND, ACTION, OR PROCEEDING SHALL BE DECIDED BY A COURT TRIAL WITHOUT A JURY AND THAT EITHER PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN
EVIDENCE OF THE CONSENT OF ANY OTHER PARTY HERETO TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 
 [Remainder of Page Intentionally Left
Blank.] 
  

  
 6 

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

			
	RESTORATION ROBOTICS, INC.
		
	By:	 	 /s/ Mark Hair

	Name: Mark Hair
	Title: Chief Financial Officer
	
	Address:
	
	RESTORATION ROBOTICS, INC.
	128 Baytech Drive
	San Jose, California 95134
	Attention: Chief Financial Officer

 SIGNATURE PAGE TO 

NOTE PURCHASE AGREEMENT 

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

	
	 LENDER:

	
	 FRED MOLL

	
	 /s/ Fred Moll

 SIGNATURE PAGE TO 

NOTE PURCHASE AGREEMENT 

 SCHEDULE OF LENDERS 

 

					
	 Name of Lender
	  	Principal Amount
of Note
at First Closing	 
	 Fred Moll

4000 E. Denny Blaine Place

Seattle, WA 98112

Email: fredmoll@gmail.com
	  	$	2,000,000.00	 
		  	  
	  
	 
	 TOTAL
	  	$	2,000,000.00	 
		  	  
	  
	 

 Exhibit A 

Form of Unsecured Subordinated Promissory Note

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00299-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00299-of-00352.parquet"}]]