Document:

EX-10.25

 Exhibit 10.25 

EXECUTIVE EMPLOYMENT AGREEMENT 
 This
executive employment agreement (this “Agreement”) is effective as of January 1, 2015 by and between Axonics Modulation Technologies, Inc., A Delaware Corporation (“Company”), and Rinda Sama (“Executive”). 

In consideration of the premises and the agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which the
parties hereby acknowledge, the parties agree as follows: 
  

	 	1.	 EMPLOYMENT/TERM. Company hereby employs Executive to perform those duties and responsibilities
set forth below under Position and Duties and Executive hereby accepts such employment for a period commencing May 19, 2014, (“Effective Date”) and ending on May 20, 2019, (the “Term”) unless earlier terminated pursuant
to the section titled Termination. 

  

	 	2.	 POSITION AND DUTIES. 

 

	 	a.	 Description of Executive’s Position and Duties and Responsibilities. The Executive shall be the
Vice President of Operations, Quality and Regulatory Affairs. Executive shall report to Axonics Modulation Technologies’ Chief Operating & Financial Officer and shall have the duties and responsibilities typical for such position and
such other duties and responsibilities as may be reasonably assigned or modified by the Chief Operating & Financial Officer or Chief Executive Officer. 

 

	 	b.	 Performance of Duties. Executive agrees to be bound by all of Company’s policies and procedures
relating to the conduct of its employees now or hereafter in effect. 

  

CONFIDENTIAL - RINDA SAMA EMPLOYMENT AGREEMENT 

	 	3.	 COMPENSATION AND BENEFITS. 

 

	 	a.	 Base Salary. Beginning on January 1, 2015, Executive’s base salary (“Base Salary”)
shall be two hundred and seventy thousand dollars ($270,000) per year payable in equal amounts twice monthly. The Company makes no assurances that executives Base Salary will be increased at any time during the term. 

 

	 	b.	 Benefits and Vacation. Executive shall be eligible to receive such medical coverage and other benefits
as are available to the senior executives of Company. Executive shall be entitled to four (4) weeks paid vacation each year during the term in accordance with the normal policies of Company. 

 

	 	c.	 Incentive Compensation. Any incentive compensation is at the sole discretion of the Board of Directors.
The Company currently has no bonus plan in place and makes no assurances that Executive will be part of any future plan. 

  

	 	d.	 Stock Option Grant. The Company Board of Directors previously approved a resolution that Executive shall
be granted stock options to acquire up to 30,150 options to purchase common stock in the company in accordance with the terms and conditions of the Plan and Executive’s Stock Option Agreement with Company. The Option may be exercised at any
time after the Date of Grant. The Options vest twenty five percent (25%) on the Date of Grant and the remainder vests 1/36 per month thereafter starting on the Vesting Commencement Date. In addition, if the Company is subject to a Change in Control
before or within ninety (90) days following termination of the Executive’s service, then 100% of the Shares subject to the Options shall vest. 

  

CONFIDENTIAL - RINDA SAMA EMPLOYMENT AGREEMENT 

	 	4.	 TERMINATION. 

  

	 	a.	 Death. Executive’s employment hereunder shall terminate on the death of Executive.

  

	 	b.	 Disability. Executive’s employment hereunder may be terminated, at the option of Company, upon the
Disability of Executive. For purposes of this agreement, Disability means the inability of Executive to perform his duties under this agreement due to Executive’s physical or mental illness or impairment, even with reasonable accommodation, for
more than twenty-six (26) substantially consecutive weeks in any twelve (12)-month period. For purposes of this section the termination date will be on the date after the substantially consecutive 26th
week that Executive receives written notice from Company with respect to the Disability. 

  

	 	c.	 Termination for Cause. Notwithstanding any other provision of this Agreement, Company may, at any time,
immediately terminate Executive’s employment for Cause. For this purpose, Cause means (i) an act by Executive which constitutes misappropriation, embezzlement or fraud, (ii) any other act that would materially and adversely impact the
business or reputation of Company, (iii) conviction of, or pleading nolo contendere to, any felony or (iv) any other breach by Executive of any of the provisions of this Agreement, which continues for more than ten (10) calendar days
without cure (to the extent such breach is curable) after written notice by Company to Executive specifying such breach and the actions needed to cure such breach (to the extent such breach is curable). 

 

	 	d.	 Termination Without Cause. Company may terminate Executive’s employment at any time without Cause
upon thirty (30) days’ prior written notice to Executive. 

  

CONFIDENTIAL - RINDA SAMA EMPLOYMENT AGREEMENT 

	 	5.	 COMPENSATION UPON TERMINATION. Executive shall be entitled to the following benefits upon
termination of his or her employment prior to May 20, 2019: 

  

	 	a.	 Death or Disability. If the Executive’s employment shall be terminated: (i) by reason
of Executive’s death, or (ii) by Company for Disability; Company shall: (a) within thirty (30) days following the date of such termination (“Termination Date”) the Company will pay Executive all amounts due pursuant to
the sections on Base Salary, Benefits (including premiums for the cost of continuing health care coverage and any matching related to the Company’s 401(k) plan), and Incentive Compensation (including a
pro-rated bonus, if any, for the year in which the termination occurs) hereof through the date of such termination, plus a lump sum amount equal to six (6) months of the Executive’s Base Salary; it
being understood and agreed that the payments under this paragraph 5(a) shall be conditioned upon Executive executing a waiver and release agreement in a form satisfactory to Company. If the Executive is unable to execute such waiver and release
agreement due to death or Disability, then the waiver and release agreement shall be executed by an authorized agent or representative of Executive and/or Executive’s estate. 

 

	 	b.	 For Cause or Without Good Reason. If Executive’s employment is terminated: (i) by
Company for Cause, or (ii) by Executive for any reason other than for good reason (as defined below), Company shall, within thirty (30) days following the Termination Date, pay Executive all amounts due pursuant to the sections on Base
Salary, Benefits, and Incentive Compensation hereof through the date of such termination and Company shall have no further obligation to Executive under this Agreement. 

 
 CONFIDENTIAL - RINDA SAMA EMPLOYMENT AGREEMENT 

	 	c.	 Without Cause or for Good Reason. In the event of termination without Cause (including a
Change in Control) or Executive’s resignation for good reason (such as a material change in Executive’s duties or responsibilities, a material reduction in salary, a material adverse relocation of primary work location, the failure of the
Company to renew the term of the employment agreement, the material failure of the Company or any successor entity to perform its obligations under Executive’s employment agreement or Executive’s resignation for any reason during the
twelve (12) month period after a change in control), the Company will pay Executive all amounts due pursuant to the sections on Base Salary, Benefits (including premiums for the cost of continuing health care coverage and any matching related
to the Company’s 401(k) plan), and Incentive Compensation (including a pro-rated bonus, if any, for the year in which the termination occurs) hereof through the date of such termination, plus a lump sum
amount equal to six (6) months of the Executive’s Base Salary. 

  

	 	d.	 The stock option grants issued under this Agreement and under prior stock option grants are governed by the
terms and conditions of the Plan. Nothing in this Section or any waiver and release agreement contemplated hereunder shall affect any rights of Executive with respect to Executive’s stock options. 

 

	 	e.	 For the purposes of this Agreement, and as defined by the Company’s 2014 Stock Option Plan (the
“Plan”), a “Change in Control” shall mean (i) the consummation of a merger or consolidation of the Company with or into another entity, (ii) the dissolution, liquidation or winding up of the Company or (iii) the
sale of all or substantially all of the Company’s assets. The foregoing notwithstanding, a merger or consolidation of the Company shall not constitute a “Change in Control” if immediately after such merger or consolidation a majority
of the voting power of the capital stock of the continuing or surviving entity, or any direct or indirect parent corporation of such continuing or surviving entity, will be 

 
 CONFIDENTIAL - RINDA SAMA EMPLOYMENT AGREEMENT 

	 	f.	 owned by the persons who were the Company’s stockholders immediately prior to such merger or consolidation
in substantially the same proportions as their ownership of the voting power of the Company’s capital stock immediately prior to such merger or consolidation. 

 

	 	6.	 PROPRIETARY INVENTIONS AND CONFIDENTIAL INFORMATION. 

 

	 	a.	 The following confirms and memorializes an agreement that Company and Executive have had since the commencement
of employment (which term, for purposes of this agreement, shall be deemed to include any relationship of service to the Company that may have existed prior to actually becoming an employee) with the Company in any capacity and that is and has been
a material part of the consideration for employment by Company: 

 i. Executive has not entered into, and
agrees he/she will not enter into, any agreement either written or oral in conflict with this Agreement or Executive’s employment with Company. Executive will not violate any agreement with or rights of any third party or, except as expressly
authorized by Company in writing hereafter, use or disclose Executive’s own or any third party’s confidential information or intellectual property when acting within the scope of my employment or otherwise on behalf of Company. 

ii. Company shall own all right, title and interest (including patent rights, copyrights, trade secret rights, mask work
rights, sui generis database rights and all other intellectual property rights of any sort throughout the world) relating to any and all inventions (whether or not patentable), works of authorship, mask works, designs, know-how, ideas and information made or conceived or reduced to practice, in whole or in part, by me 
  

CONFIDENTIAL - RINDA SAMA EMPLOYMENT AGREEMENT 

 
during the term of Executive’s employment with Company to and only to the fullest extent allowed by California Labor Code Section 2870 (collectively “Inventions”) and
Executive will promptly disclose all Inventions to Company. Without disclosing any third party confidential information, Executive will also disclose anything Executive believes is excluded by Section 2870 so that the Company can make an
independent assessment. Executive hereby make all assignments necessary to accomplish the foregoing. Executive shall further assist Company, at Company’s expense, to further evidence, record and perfect such assignments, and to perfect, obtain,
maintain, enforce, and defend any rights specified to be so owned or assigned. Executive hereby irrevocably designates and appoints Company as agent and
attorney-in-fact, coupled with an interest and with full power of substitution, to act for and in Executive’s behalf to execute and file any document and to do all
other lawfully permitted acts to further the purposes of the foregoing with the same legal force and effect as if executed by Executive. If anything created by Executive prior to his or her employment relates to Company’s actual or proposed
business, Executive has listed it on Appendix B in a manner that does not violate any third party rights or disclose any confidential information. Without limiting Section 1 or Company’s other rights and remedies, if, when acting
within the scope of Executive’s employment or otherwise on behalf of Company, Executive uses or (except solely on Appendix A pursuant to this Section) discloses his or her own or any third party’s confidential information or intellectual
property (or if any Invention cannot be fully made, used, reproduced, distributed and otherwise exploited without using or violating the foregoing), Company will have and Executive hereby grants Company a perpetual, irrevocable, worldwide
royalty-free, non-exclusive, sub licensable right and license to exploit and exercise all such confidential information and intellectual property rights. 

 
 CONFIDENTIAL - RINDA SAMA EMPLOYMENT AGREEMENT 

 iii. To the extent allowed by law, paragraph 6(a)(ii) above includes all
rights of paternity, integrity, disclosure and withdrawal and any other rights that may be known as or referred to as “moral rights,” “artist’s rights,” “droit moral,” or the like (collectively “Moral
Rights”). To the extent Executive retains any such Moral Rights under applicable law, Executive hereby ratifies and consents to any action that may be taken with respect to such Moral Rights by or authorized by Company and agree not to assert
any Moral Rights with respect thereto. Executive will confirm any such ratifications, consents and agreements from time to time as requested by Company. 

iv. Executive agrees that all Inventions and all other business, technical and financial information (including, without
limitation, the identity of and information relating to customers or employees) that he or she develops, learns or obtain during the term of employment that relate to Company or the business or demonstrably anticipated business of Company or that
are received by or for Company in confidence, constitute “Proprietary Information.” Executive will hold in confidence and not disclose or, except within the scope of employment, use any Proprietary Information. However, Executive shall not
be obligated under this paragraph with respect to information they can document is or becomes readily publicly available without restriction through no fault of Executive. Upon termination of employment, Executive will promptly return to Company all
items containing or embodying Proprietary Information (including all copies), except that Executive may keep my personal copies of: (A) Executive’s compensation records and performance reviews, (B) materials distributed to shareholders
generally, and (C) this 
  
 CONFIDENTIAL - RINDA SAMA EMPLOYMENT
AGREEMENT 

 
Agreement. Executive also recognizes and agrees that Executive has no expectation of privacy with respect to Company’s telecommunications, networking or information processing systems
(including, without limitation, stored computer files, email messages and voice messages) and that Executive’s activity and any files or messages on or using any of those systems may be monitored at any time without notice. 

v. Executive agrees that during the term of employment with Company (whether or not during business hours), Executive will
not engage in any activity that is in any way competitive with the business or demonstrably anticipated business of Company, and Executive will not assist any other person or organization in competing or in preparing to compete with any business or
demonstrably anticipated business of Company. 
 vi. Executive agrees that the obligations under paragraphs 6(a)(ii)
through 6(a)(iv) (above) of this Agreement shall continue in effect after termination of Executive’s employment, regardless of the reason or reasons for termination, and whether such termination is voluntary or involuntary on Executive’s
part, and that Company is entitled to communicate Executive’s obligations under this Agreement to any future employer or potential employer of Executive. Executive’s obligations under paragraphs 6(a)(ii) through 6(a)(iv) also shall be
binding upon Executive’s heirs, executors, assigns, and administrators and shall inure to the benefit of Company, it subsidiaries, successors and assigns. 

vii. Any dispute in the meaning, effect or validity of this Agreement shall be resolved in accordance with the laws of the
State of California without regard to the conflict of laws provisions thereof. Executive further agree that if one or more provisions of this Agreement are held to be illegal or unenforceable under applicable California law, such 

 
 CONFIDENTIAL - RINDA SAMA EMPLOYMENT AGREEMENT 

 
illegal or unenforceable portion(s) shall be limited or excluded from this Agreement to the minimum extent required so that this Agreement shall otherwise remain in full force and effect and
enforceable in accordance with its terms. This Agreement is fully assignable and transferable by Company, but any purported assignment or transfer by Executive is void. Executive also understands that any breach of this Agreement will cause
irreparable harm to Company for which damages would not be a adequate remedy, and, therefore, Company will be entitled to injunctive relief with respect thereto in addition to any other remedies and without any requirement to post bond. 

 

	 	b.	 EXECUTIVE HAS READ THIS AGREEMENT CAREFULLY AND UNDERSTANDS AND ACCEPTS THE OBLIGATIONS WHICH IT IMPOSES
UPON EXECUTIVE WITHOUT RESERVATION. NO PROMISES OR REPRESENTATIONS HAVE BEEN MADE TO EXECUTIVE TO INDUCE EXECUTIVE TO SIGN THIS AGREEMENT. EXECUTIVE SIGNS THIS AGREEMENT VOLUNTARILY AND FREELY, IN DUPLICATE, WITH THE UNDERSTANDING THAT THE COMPANY
WILL RETAIN ONE COUNTERPART AND THE OTHER COUNTERPART WILL BE RETAINED BY EXECUTIVE. 

  

	 	7.	 NO BREACH OF PRIOR AGREEMENT. Executive represents that his performance of the terms of this
agreement and his duties as an employee of Company will not result in a breach or violation of any noncompetition, confidentiality or similar agreement with any former employer or other party. 

 

	 	8.	 GENERAL PROVISIONS. 

 

	 	a.	 Notices. All notices, requests, demands, statements, reports and other communications provided for by
this agreement shall be in writing and shall be sent by certified mail, return receipt requested, postage prepaid or sent by nationally recognized overnight delivery service. A notice shall be deemed to be given in each case on the business day
following the date of its mailing. All notices shall be addressed and mailed or delivered to the following addresses 

  

CONFIDENTIAL - RINDA SAMA EMPLOYMENT AGREEMENT 

 IF to COMPANY: 

Axonics Modulation Technologies, Inc. 

7575 Irvine Center Drive, Suite 200 

Irvine, CA 926518 
 Attention:
Chief Executive Officer 
 IF to EXECUTIVE: 

Rinda Sama 
 27601 Jaquita Place

 Laguna Niguel, CA 92677 
 Each party may
change his/its address for notices by giving notice in accordance here with. 
  

	 	b.	 Entire Agreement. Other than the prior stock option grants, this Agreement and the Stock Option
Agreement contain the entire agreement between the parties with respect to the employment of Executive by Company and supersede all prior and contemporaneous agreements, representations and understandings of the parties with respect to the subject
matter contained herein and therein, including any Agreement between Executive and Company or any of its affiliates and subsidiaries. 

  

	 	c.	 Modification and Waiver. No amendment or variation of the terms of this Agreement shall be valid unless
made in writing and signed by executive and a duly authorized representative of Company. A waiver of any term or condition of this agreement shall not be construed as a general waiver by Company. 

 

	 	d.	 Governing Law. This agreement shall be governed by and construed in accordance with the laws of the
State of California, excluding its conflicts-of-laws or choice-of-law provisions.

  

	 	e.	 Binding Effect. Is hereby agreed that Executive’s rights and obligations under this Agreement are
personal and not assignable. This agreement shall be binding upon and inure to the benefit of, the heirs, personal representatives, successors and assigns of the parties; subject, however, to the restrictions on assignment contained herein.

  
 CONFIDENTIAL - RINDA SAMA EMPLOYMENT AGREEMENT

	 	f.	 Arbitration/Dispute Resolution. Company and Executive express expressly agree that, except for disputes
arising out of alleged violations related to proprietary inventions and confidential information, all disputes arising out of this Agreement shall be resolved by arbitration in accordance with the following provisions. Either party must demand in
writing such arbitration within one hundred and twenty (120) days after the controversy arises by sending a notice to arbitrate to both the other party and to the American Arbitration Association (“AAA”). The controversy shall then be
arbitrated, pursuant to the rules promulgated by the AAA (the “Rules”), in the state of California. The parties will select by mutual agreement the arbitrator or arbitrators to herein resolve the controversy; provided, however, that, the
parties cannot mutually agree as to the arbitrator, then the arbitrator shall be selected by the AAA in accordance with the Rules. The arbitrator’s decision shall be final and binding on the parties and shall bar any suit, action or proceeding
instituted in any federal, state or local courts for administrative tribunal. Notwithstanding the preceding sentence, the arbitrator’s judgment may be entered in any court of competent jurisdiction. Disputes arising under the sections for
compensation and termination upon compensation may be litigated and injunctive relief sought in any court having jurisdiction over the subject matter of such dispute. 

 

	 	g.	 Survival. The provisions of the sections related to Compensation Upon Termination, Proprietary
Inventions and Confidential Information and the General Provisions shall survive any termination of this agreement. 

 In witness whereof,
parties have executed this agreement as of the date first above written. 
  

			
	AXONICS MODULATION TECHNOLOGIES, INC.
		
	By:	 	/s/ Raymond W. Cohen
	Name: Raymond W. Cohen
	Title: Chief Executive Officer

  

			
	EXECUTIVE
		
	By:	 	/s/ Rinda Sama
	Name: Rinda Sama
	Title: VP Operations, Quality & Regulatory Affairs

  
 CONFIDENTIAL - RINDA SAMA EMPLOYMENT
AGREEMENTEX-10.26

 Exhibit 10.26 

SECURED FULL RECOURSE PROMISSORY NOTE 
  

			
	Principal Amount: U.S. [    ]	  	Issuance Date: ________, 201__

 _____________, an individual (the “Maker”), for value received, hereby promises to pay to the
order of AXONICS MODULATION TECHNOLOGIES, INC., a Delaware corporation (the “Holder”), or to the Holder’s registered assigns, the principal amount set forth above, together with accrued and unpaid interest, on or before the
Maturity Date (as defined in Section 1 below) as provided herein. This Secured Full Recourse Promissory Note (the “Note”) is being tendered by Maker to Holder pursuant to that certain Stock Option Agreement, of even date
herewith, by and between Maker and Holder (the “Purchase Agreement”), and is issued as consideration for the purchase by Maker of _____________ (____) shares (the “Shares”) of Common Stock of Holder pursuant to the
Purchase Agreement. 
 1. Maturity Date. The principal amount of this Note, together with any accrued and unpaid
interest (computed in accordance with Section 2 below), shall be paid in full upon the first to occur of any of the following events (the “Maturity Date”): (i) upon any sale or other disposition of all or any portion of the
Shares (including Holder’s repurchase of such Shares); (ii) upon termination of the Maker’s “Continuous Service” (as defined in the Holder’s 2014 Stock Incentive Plan) for any reason whatsoever; (iii) the latest date
when repayment must be made in order to prevent a violation of §13(k) of the Securities Exchange Act of 1934, as amended; or (iv) the five (5) year anniversary of the date of this Note. On the Maturity Date, the Maker shall pay to the
Holder, at the Holder’s principal place of business or at such other place as the Holder may direct, an amount in cash representing any outstanding principal and accrued and unpaid interest, and the Holder shall surrender this Note to Maker
upon request and receipt of all payments required under this Note. All payments made under this Note shall be made in the lawful tender of the United States of America by check or by wire transfer to an account designated by Holder. In the event
that the Maker only disposes of a portion of the Shares, the sales proceeds shall be applied to the unpaid principal sum and accrued interest under this Note to the extent required by the Stock Pledge Agreement, on even date herewith, by and among
the Maker and the Holder (the “Pledge Agreement”). 
 2. Interest. The unpaid principal balance
of this Note shall bear interest at a rate equal to 4.5 % per annum1, simple interest, from the date hereof until paid in full. All interest hereunder shall be calculated based on a 365-day year and paid for the actual number of days elapsed until the unpaid balance of this Note is paid in full. All accrued and unpaid interest shall be payable in full on the Maturity Date. Notwithstanding the
foregoing, the rate of interest payable under this Note from time to time shall in no event exceed the maximum rate, if any, permissible under applicable law. 

3. Prepayment. The Maker may prepay, in whole or in part, the outstanding principal and accrued interest under
this Note without penalty. Any such payment shall be made by tender to the Holder of funds by check or wire transfer. 
  

	1 	 Based on the federal interest rates for direct unsubsidized federal student loans and new mortgage loans as of
June 5, 2014. 

 4. Security Interest. Payment of this Note is secured by all of
the real, personal, tangible and intangible property and assets of the Maker (collectively, the “Collateral”) including, but not limited to, the Shares as provided in a Pledge Agreement (of which the Holder shall have a
first-priority security interest in all of the Shares). The Maker hereby pledges and grants to Holder a continuing security interest in all of its right, title, and interest in the Collateral to secure performance of the Maker’s obligations
under this Note. 
 5. Repurchase. In the event the Holder at any time exercises its Repurchase Right pursuant
to Section 4 of the Purchase Agreement or its right of first refusal pursuant to Section 5 of the Purchase Agreement, the Maker shall make a payment under this Note in an amount equal to the aggregate gross proceeds received from the
Company for the Shares being repurchased at such time. 
 6. Defaults and Remedies. 

(a) Events of Default. An “Event of Default” shall occur if: 

(i) the Maker shall default in the payment of the principal and interest of this Note, when and as the same shall become due and
payable and shall not have cured such default within ten (10) business days of the due date; 
 (ii) the Maker shall commit a
breach of or default under the Purchase Agreement, any other provision of this Note, or the Pledge Agreement; 
 (iii) an
involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent jurisdiction seeking (a) relief in respect of the Maker, or of a substantial part of his or her property or assets, under Title 11
of the United States Code, as now constituted or hereafter amended, or any other Federal or state bankruptcy, insolvency, receivership or similar law, or (b) the appointment of a receiver, trustee, custodian, sequestrator, conservator or
similar official for the Maker, or for a substantial part of his or her property or assets; and such proceeding or petition shall continue undismissed for sixty (60) days, or an order or decree approving or ordering any of the foregoing shall
be entered; or 
 (iv) the Maker shall (a) voluntarily commence any proceeding or file any petition seeking relief under
Title 11 of the United States Code, as now constituted or hereafter amended, or any other Federal or state bankruptcy, insolvency, receivership or similar law, (b) consent to the institution of, or fail to contest in a timely and
appropriate manner, any proceeding or the filing of any petition described in paragraph (iii) of this Section 6(a), (c) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar
official for the Maker, or for a substantial part of his or her property or assets, (d) file an answer admitting the material allegations of a petition filed against him or her in any such proceeding, (e) make a general assignment for the
benefit of creditors, (f) become unable, admit in writing his inability or fail generally to pay his or her debts as they become due or (g) take any action for the purpose of effecting any of the foregoing. 

(b) Remedies. 

(i) Upon the occurrence of any Event of Default hereunder, Holder shall have all the legal and equitable rights and remedies available
to it under this Note and applicable law, including, without limitation, (i) full recourse against the Collateral, and (ii) the right to declare all or 

  
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part of the principal and accrued and unpaid interest under this Note immediately due and payable, without presentment, demand, protest or notice of any kind, all of which are expressly waived in
Section 9 below. THE MAKER ACCEPTS AND AGREES THAT THIS NOTE IS A FULL RECOURSE NOTE AND THAT THE HOLDER MAY EXERCISE ANY AND ALL LEGAL AND/OR EQUITABLE REMEDIES AVAILABLE TO IT UNDER APPLICABLE LAW. 

(ii) The remedies of Holder as provided herein, or at law or in equity, shall be cumulative and concurrent, and may be pursued singly,
successively, or together at the sole discretion of Holder, and may be exercised as often as occasion therefor shall occur; and the failure to exercise any such right or remedy shall in no event be construed as a waiver or release thereof. 

7. Release and Termination. Upon payment in full of the outstanding principal balance of the Note and all accrued and
unpaid interest thereon, Holder shall promptly execute and deliver to the Maker such documents, instruments, termination statements and releases as shall be requested by the Maker in order to terminate and discharge all of the liens, security
interests and encumbrances created by or pursuant to this Note. 
 8. Loss, Etc., of Note. Upon receipt of
evidence satisfactory to the Maker of the loss, theft, destruction or mutilation of this Note, and of indemnity reasonably satisfactory to the Maker if lost, stolen or destroyed, and upon surrender and cancellation of this Note if mutilated, and
upon reimbursement of the Maker’s reasonable incidental expenses, the Maker shall execute and deliver to the Holder a new Note of like date, tenor and denomination. 

9. Waiver. The Maker hereby waives presentment, demand, notice of nonpayment, protest and all other demands and
notices in connection with the delivery, acceptance, performance or enforcement of this Note. If an action is brought for collection under this Note, the Holder shall be entitled to receive all costs of collection, including, but not limited to, its
reasonable attorneys’ fees. 
 10. Notices. All notices or other communications required or permitted
hereunder 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,
and if not, 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 address set forth opposite below or at such other address(es) as Maker or Holder may designate by ten (10) days advance written
notice to the other party hereto. 
  

							
		 	If to the Maker:	 	 	  	
				
		 		 	 	  	
				
		 		 	 	  	
				
		 	If to Holder:	 	 Axonics Modulation Technologies

7575 Irvine Center Drive, Suite 200

Irvine, CA 92618

Attention: General Counsel
	  	

  
 3 

 11. Transferability. This Note evidenced hereby may not be
pledged, sold, assigned or transferred except in compliance with applicable federal and state securities laws. Any pledge, sale, assignment or transfer in violation of the foregoing shall be null and void. 

12. Successors and Assigns. Subject to Section 11, all of the covenants, stipulations, promises, and
agreements in this Note shall bind and inure to the benefit of the parties’ respective successors and assigns, whether so expressed or not. 

13. Amendments. The provisions of this Note may not be waived, altered, amended or repealed, in whole or in part,
except with the written consent of the Maker and the Holder. 
 14. Applicable Law. This Note shall be governed
by the laws of the State of California, and the laws of such state (other than conflicts of laws principles) shall govern the construction, validity, enforcement and interpretation hereof, except to the extent federal laws otherwise govern the
validity, construction, enforcement and interpretation hereof. 
 15. Attorneys’ Fees. In the event that any
dispute among the parties to this Note should result in litigation, the prevailing party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of such prevailing party under or with
respect to this Note, including without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals. 

16. Payment of Collection, Enforcement and Other Costs. If (a) this Note is placed in the hands of an
attorney or other agent for collection or enforcement or is collected or enforced through any legal proceeding or the Holder otherwise takes action to collect amounts due under this Note or to enforce the provisions of this Note or (b) there
occurs any bankruptcy, reorganization, receivership of the Company or other proceedings affecting Maker’s creditors’ rights and involving a claim under this Note, then the Maker shall pay the costs incurred by the Holder for such
collection, enforcement or action or in connection with such bankruptcy, reorganization, receivership or other proceeding, including, but not limited to, financial advisory fees and attorneys’ fees and disbursements. 

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

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, Maker has caused this Note to be duly executed as of the Issuance Date
set forth above. 
  

	
	
	   

	[name]

  
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