Document:

exv4w2

Exhibit 4.2

FLUIDIGM CORPORATION

SERIES E PREFERRED STOCK PURCHASE AGREEMENT

First Closing: June 13, 2006

Second Closing: December 22, 2006

Third Closing: March 30, 2007

Fourth Extended Closing: October 10, 2007

Fifth Extended Closing: October 26, 2007

Sixth Extended Closing: December 31, 2007

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	1.	 	Purchase and Sale of Preferred Stock	 	 	1	 
	 
	 	1.1	 	Authorization of the Shares	 	 	1	 
	 
	 	1.2	 	Purchase and Sale of the Shares	 	 	1	 
	 
	 	1.3	 	Closing Date	 	 	1	 
	 
	 	1.4	 	Delivery	 	 	1	 
	 
	 	 	 	 	 	 	 	 
	2.	 	Representations and Warranties of the Company	 	 	2	 
	 
	 	2.1	 	Organization, Good Standing and Qualification	 	 	2	 
	 
	 	2.2	 	Corporate Power	 	 	2	 
	 
	 	2.3	 	Subsidiaries	 	 	2	 
	 
	 	2.4	 	Capitalization	 	 	2	 
	 
	 	2.5	 	Authorization	 	 	3	 
	 
	 	2.6	 	Valid Issuance of Preferred and Common Stock	 	 	3	 
	 
	 	2.7	 	Governmental Consents	 	 	4	 
	 
	 	2.8	 	Litigation	 	 	4	 
	 
	 	2.9	 	Employees	 	 	4	 
	 
	 	2.10	 	Patents and Other Intangible Assets	 	 	5	 
	 
	 	2.11	 	Compliance with Other Instruments	 	 	7	 
	 
	 	2.12	 	Permits	 	 	7	 
	 
	 	2.13	 	Environmental and Safety Laws	 	 	7	 
	 
	 	2.14	 	Title to Property and Assets	 	 	7	 
	 
	 	2.15	 	Agreements; Action	 	 	7	 
	 
	 	2.16	 	Financial Statements	 	 	8	 
	 
	 	2.17	 	Changes	 	 	9	 
	 
	 	2.18	 	Brokers or Finders	 	 	9	 
	 
	 	2.19	 	Qualified Small Business Stock	 	 	9	 
	 
	 	2.20	 	Employee Benefit Plans	 	 	10	 
	 
	 	2.21	 	Tax Matters	 	 	10	 
	 
	 	2.22	 	Insurance	 	 	10	 
	 
	 	2.23	 	Corporate Documents	 	 	10	 
	 
	 	2.24	 	Disclosure	 	 	10	 
	 
	 	2.25	 	Offering	 	 	11	 
	 
	 	2.26	 	Returns and Complaints	 	 	11	 
	 
	 	 	 	 	 	 	 	 
	3.	 	Representations and Warranties of the Purchasers	 	 	11	 
	 
	 	3.1	 	Experience	 	 	11	 
	 
	 	3.2	 	Investment	 	 	11	 
	 
	 	3.3	 	Rule 144	 	 	11	 
	 
	 	3.4	 	Legends	 	 	12	 
	 
	 	3.5	 	No Public Market	 	 	12	 
	 
	 	3.6	 	Access to Data	 	 	12	 

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TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 
	 	3.7	 	Authorization	 	 	12	 
	 
	 	3.8	 	Accredited Investor	 	 	12	 
	 
	 	3.9	 	Public Solicitation	 	 	12	 
	 
	 	3.10	 	Tax Advisors	 	 	12	 
	 
	 	3.11	 	Purchaser Counsel	 	 	12	 
	 
	 	3.12	 	Brokers or Finders	 	 	13	 
	 
	 	3.13	 	Non-United States Persons	 	 	13	 
	 
	 	 	 	 	 	 	 	 
	4.	 	Conditions of Purchaser’s Obligations at Closing	 	 	13	 
	 
	 	4.1	 	Representations and Warranties	 	 	13	 
	 
	 	4.2	 	Performance	 	 	13	 
	 
	 	4.3	 	Compliance Certificate	 	 	13	 
	 
	 	4.4	 	Blue Sky	 	 	13	 
	 
	 	4.5	 	Opinion of Company Counsel	 	 	13	 
	 
	 	4.6	 	Investor Rights Agreement	 	 	14	 
	 
	 	4.7	 	Restated Articles	 	 	14	 
	 
	 	4.8	 	Corporate Proceedings; Waivers and Consents	 	 	14	 
	 
	 	 	 	 	 	 	 	 
	5.	 	Conditions of the Company’s Obligations at Closing	 	 	14	 
	 
	 	5.1	 	Representations and Warranties	 	 	14	 
	 
	 	5.2	 	Payment of Purchase Price	 	 	14	 
	 
	 	5.3	 	Blue Sky	 	 	14	 
	 
	 	5.4	 	Investor Rights Agreements	 	 	14	 
	 
	 	5.5	 	Restated Articles	 	 	14	 
	 
	 	5.6	 	Proceedings and Documents	 	 	14	 
	 
	 	 	 	 	 	 	 	 
	6.	 	Miscellaneous	 	 	14	 
	 
	 	6.1	 	Governing Law; Jurisdiction	 	 	14	 
	 
	 	6.2	 	Indemnification	 	 	15	 
	 
	 	6.3	 	Survival	 	 	15	 
	 
	 	6.4	 	Successors and Assigns	 	 	15	 
	 
	 	6.5	 	Entire Agreement; Amendment	 	 	15	 
	 
	 	6.6	 	Notices, Etc	 	 	15	 
	 
	 	6.7	 	Delays or Omissions	 	 	16	 
	 
	 	6.8	 	California Corporate Securities Law	 	 	16	 
	 
	 	6.9	 	Finder’s Fee	 	 	16	 
	 
	 	6.10	 	Expenses	 	 	16	 
	 
	 	6.11	 	Waiver of Conflict	 	 	16	 
	 
	 	6.12	 	Severability	 	 	17	 
	 
	 	6.13	 	Counterparts; Facsimile	 	 	17	 
	 
	 	6.14	 	Titles and Subtitles	 	 	17	 

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TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 
	 	6.15	 	Exculpation Among Purchasers	 	 	17	 
	 
	 	6.16	 	Like Treatment of Holders	 	 	17	 
	 
	 	6.17	 	Jury Trial	 	 	17	 
	 
	 	 	 	 	 	 	 	 
	EXHIBITS	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Exhibit A	 	Schedule of Purchasers	 	 	 	 
	Exhibit B	 	Form of Amended and Restated Articles of Incorporation	 	 	 	 
	Exhibit C	 	Schedule of Exceptions	 	 	 	 
	Exhibit D	 	Form of Eighth Amended and Restated Investor Rights Agreement	 	 	 	 
	Exhibit E	 	Form of Legal Opinion	 	 	 	 

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SERIES E PREFERRED STOCK PURCHASE AGREEMENT

     THIS SERIES E PREFERRED STOCK PURCHASE AGREEMENT is made as of June 13, 2006, by and among
Fluidigm Corporation, a California corporation (the “Company”), and the purchasers listed on the
Schedule of Purchasers attached hereto as EXHIBIT A (the “Schedule of Purchasers”). The
persons or entities listed thereon are hereinafter referred to collectively as the “Purchasers” and
individually as a “Purchaser.”

     THE PARTIES HEREBY AGREE AS FOLLOWS:

     1. Purchase and Sale of Preferred Stock.

          1.1 Authorization of the Shares. The Company will on or before the Closing
(as defined below) authorize the sale and issuance pursuant to this Agreement of up
to 5,000,000 shares (the “Shares”) of its Series E Preferred Stock (the “Series E
Preferred”), having the rights, preferences and privileges as set forth in the
Amended and Restated Articles of Incorporation attached hereto as EXHIBIT B
(the “Restated Articles”).

          1.2 Purchase and Sale of the Shares. Subject to the terms and conditions
hereof and in reliance upon the representations, warranties and agreements contained
herein, the Company will issue and sell to each Purchaser, severally and not jointly,
and each Purchaser will purchase from the Company, severally and not jointly, at the
Closing, the number of Shares set forth opposite the Purchaser’s name on the Schedule
of Purchasers, at a purchase price of Four Dollars ($4.00) per Share. The Company
shall be entitled to sell any unpurchased Shares to any Purchaser or to a person who
is not a Purchaser and to amend the Schedule of Purchasers to include the information
relating to such sales, and such purchasers shall be considered “Purchasers” and
parties to this Agreement; provided that (i) such sales are made pursuant to this
Agreement or an agreement identical to this one except for the Closing Date and
exhibits, and (ii) such sales are completed within 120 days of the Initial Closing
(as defined below). The Company’s agreement with each Purchaser is a separate
agreement, and the sale of the Shares to each Purchaser is a separate sale.

          1.3 Closing Date. The first closing of the purchase and sale of the Shares
hereunder (the “Initial Closing”) shall be held at the offices of Wilson Sonsini
Goodrich & Rosati, 650 Page Mill Road, Palo Alto, California 94304 on June 13, 2006
(the “Closing Date”) or such other date as the Company and a majority-in-interest of
the Purchasers may agree. Subject to Section 1.2 above, subsequent closings under
this Agreement may be held from time to time after the Initial Closing at such time
and place as the Company and the relevant Purchasers agree (“Subsequent Closings”).
For the purposes of this Agreement, the term “Closing” and “Closing Date” unless
otherwise indicated, refers to the closing or date of closing
of the purchase and sale of the Shares with respect to a particular Purchaser or
group of Purchasers, whether such closing occurs at the Initial Closing or at a
Subsequent Closing.

          1.4 Delivery. At Closing, the Company shall deliver to each Purchaser a
certificate, in such denomination and registered in Purchaser’s name as set forth on
the Schedule of Purchasers, representing the number of Shares which Purchaser is
purchasing from the Company

 

 

against delivery to the Company of a check or wire
transfer payable to the order of the Company in the amount of the purchase price of
the Shares to be purchased by such Purchaser.

     2. Representations and Warranties of the Company. The Company hereby represents
and warrants to Purchaser that, except as set forth in the Schedule of Exceptions attached
hereto as EXHIBIT C (the “Schedule of Exceptions”), which has been delivered to each
Purchaser prior to Purchaser’s execution hereof, each of the representations, warranties and
statements contained in this Section 2 is true and correct as of the date of this Agreement and
will be true and correct on and as of the Closing Date. For all purposes of this Agreement,
the statements contained in the Schedule of Exceptions shall also be deemed to be
representations and warranties made and given by Company under this Agreement.

          2.1 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 California and has all requisite corporate power and authority to carry
on its business as currently conducted. The Company is duly qualified to transact
business and is in good standing in each jurisdiction in which the failure to so
qualify, individually or in the aggregate, would have a material adverse effect on
its business (as now conducted), properties, or financial condition.

          2.2 Corporate Power. The Company will have at the Closing all requisite
legal and corporate power and authority to (i) execute and deliver this Agreement;
(ii) sell and issue the Shares hereunder; (iii) issue the Common Stock issuable upon
conversion of the Shares (the “Conversion Shares”); and (iv) carry out and perform
its obligations under the terms of this Agreement.

          2.3 Subsidiaries. The Company does not presently own or control, directly or
indirectly, any interest in any other corporation, association, or other business
entity.

          2.4 Capitalization. The authorized capital stock of the Company consists, or
immediately prior to the Initial Closing will consist, of 77,857,144 shares of Common
Stock (“Common Stock”), of which 9,274,356 shares are issued and outstanding
immediately prior to the Initial Closing and 51,687,948 shares of Preferred Stock
(“Preferred Stock”), 2,727,273 of which are designated Series A Preferred Stock of
which 2,727,273 are outstanding immediately prior to the Initial Closing; 6,460,675
of which are designated Series B Preferred Stock of which 6,460,675 are outstanding
immediately prior to the Initial Closing; 17,000,000 of which are designated Series C
Preferred Stock, 16,364,832 of which are issued and outstanding immediately prior to
the Initial Closing; and 15,500,000 of which are designated Series D Preferred Stock,
11,714,048 of which are issued and outstanding immediately prior to the Initial
Closing; and 10,000,000 of which are designated Series E Preferred Stock, none of
which will be outstanding immediately prior to the Initial Closing. All such issued
and outstanding shares have been duly authorized and validly issued in compliance
with applicable laws, and are fully paid and nonassessable.

     The Company has reserved: (i) 5,000,000 shares of Series E Preferred for issuance hereunder
and 5,000,000 shares of Common Stock for issuance upon conversion of such shares of Series E
Preferred; (ii) 11,714,048 shares of Common Stock for issuance upon conversion of the outstanding

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shares of Series D Preferred; (iii) 916,335 shares of Series D Preferred for issuance upon exercise
of outstanding warrants and 916,335 shares of Common Stock for issuance upon conversion of such
Series D Preferred; (iv) 16,364,832 shares of Common Stock for issuance upon conversion of the
outstanding shares of Series C Preferred Stock; (v) 294,868 shares of Series C Preferred Stock for
issuance upon exercise of outstanding warrants and 294,868 shares of Common Stock for issuance upon
conversion of such Series C Preferred Stock; (vi) 6,460,675 shares of Common Stock for issuance
upon conversion of the outstanding Series B Preferred Stock; (vii) 2,727,273 shares of Common Stock
for issuance upon conversion of the outstanding Series A Preferred Stock; and (viii) an aggregate
of 10,800,000 shares of Common Stock for issuance to employees and consultants of the Company
pursuant to the Company’s 1999 Stock Option Plan, pursuant to which options to purchase 5,597,763
shares are granted and outstanding and 1,554,643 shares are available for future grant. Other than
with respect to the shares reserved for issuance in the preceding sentence, or as set forth in the
Ancillary Agreements (as defined below), there are no outstanding rights, options, warrants,
conversion rights, preemptive rights, rights of first refusal or similar rights for the purchase or
acquisition from the Company of any securities of the Company. There are no outstanding
obligations of the Company to repurchase or redeem any of its securities.

     Except as contemplated in the Investor Rights Agreement (as defined below), the Company has
not granted or agreed to grant any registration rights, including piggyback rights, to any person
or entity. Except as contemplated in the Second Amended and Restated Voting Agreement dated as of
August 16, 2005, the Company is not a party or subject to any agreement or understanding, and to
the Company’s knowledge, there is no agreement or understanding between any person or entities,
which relates to the voting or the giving of written consents with respect to any security of the
Company or by a director of the Company.

          2.5 Authorization. All corporate action on the part of the Company, its
officers, directors and shareholders necessary for the authorization, execution and
delivery of this Agreement, the Eighth Amended and Restated Investor Rights Agreement
in the form attached hereto as EXHIBIT D (the “Investor Rights Agreement”),
the performance of all obligations of the Company under this Agreement and the
Investor Rights Agreement (other than those registration obligations contained in
Section 1 of the Investor Rights Agreement), and any other agreements to which the
Company is a party, the execution and delivery of which is a contemplated hereby (the
“Ancillary
Agreements”) and the authorization, issuance (or reservation for issuance), sale and
delivery of the Shares and the Conversion Shares has been taken or will be taken
prior to the Closing. This Agreement and the Investor Rights Agreement constitute
valid and legally binding obligations of the Company, enforceable against the Company
in accordance with their respective terms, subject to: (i) judicial principles
limiting the availability of specific performance, injunctive relief, and other
equitable remedies; (ii) bankruptcy, insolvency, reorganization, moratorium or other
similar laws now or hereafter in effect generally relating to or affecting creditors’
rights; and (iii) limitations on the enforceability of the indemnification provisions
of the Investor Rights Agreement.

          2.6 Valid Issuance of Preferred and Common Stock. The Shares that are being purchased by the Purchasers hereunder, when issued, sold and
delivered in accordance with the

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terms of this Agreement for the consideration expressed herein,
will be duly and validly issued, fully paid, and nonassessable, and will be free of restrictions on
transfer other than restrictions on transfer under this Agreement and the Investor Rights Agreement
and under applicable state and federal securities laws. The Conversion Shares have been duly and
validly reserved for issuance, and, upon issuance in accordance with the terms of the Restated
Articles, will be duly and validly issued, fully paid, and nonassessable and will be free of
restrictions on transfer other than restrictions on transfer under this Agreement and the Investor
Rights Agreement and under applicable state and federal securities laws. The Conversion Shares may
be issued without any registration or qualification under state and federal securities laws as such
laws are currently in effect.

          2.7 Governmental Consents. No consent, approval, order or authorization of,
or registration, qualification, designation, declaration or filing with, any federal,
state or local governmental authority on the part of the Company is required in
connection with the offer, sale or issuance of the Shares or the Conversion Shares or
the consummation of any other transaction contemplated hereby, except for (a) the
filing of the Restated Articles with the Secretary of State of the State of
California prior to the Closing and (b) filings required pursuant to applicable
federal and state securities laws and blue sky laws, which filings, the Company
covenants to complete within the required statutory period.

          2.8 Litigation. There is no action, suit, proceeding or investigation
pending or, to the Company’s knowledge, currently threatened against the Company
before any court, administrative agency or other governmental body which questions
the validity of this Agreement or the Investor Rights Agreement or the right of the
Company to enter into any of them, or to consummate the transactions contemplated
hereby or thereby, or which could result, either individually or in the aggregate, in
any material adverse change in the condition (financial or otherwise), business,
property, assets or liabilities of the Company, nor is the Company aware that there
is any basis for the foregoing. The Company is not a party or subject to, and none
of its assets is bound
by, the provisions of any order, writ, injunction, judgment or decree of any court or
government agency or instrumentality. There is no action, suit, proceeding or
investigation by or involving the Company currently pending or that the Company
intends to initiate.

          2.9 Employees. Each employee of the Company has executed a proprietary
information and invention assignment agreement substantially in the form or forms
made available to the Purchasers. To the Company’s knowledge, no officer or key
employee is in violation of any prior employee contract or proprietary information
agreement. No employees of the Company are represented by any labor union or covered
by any collective bargaining agreement. There is no pending or, to the Company’s
knowledge, threatened labor dispute involving the Company and any group of its
employees. The Company is not aware that any officer or key employee intends to
terminate his or her employment with the Company within the six months after Closing.
The Company does not have a present intention to terminate the employment of any
officer or key employee. Each officer and key employee is devoting 100% of his or
her business time to the conduct of the business of the Company. The Company is not
aware that any officer or key employee intends to work less than full time during the
six months after Closing. Subject to general

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principles related to wrongful
termination of employees, the employment of each officer and employee of the Company
is terminable at will.

          2.10 Patents and Other Intangible Assets.

               (a) The Company owns, or is licensed or otherwise has the legally enforceable right to use,
all copyrights, domain names, maskworks, applications for the issuance or registration of any of
the foregoing, trade secrets, confidential or proprietary know-how, data and information, ideas,
inventions, designs, developments, algorithms, processes, schematics, techniques, computer
programs, applications and other software, works of authorship, creative effort and, to the
Company’s knowledge after such investigation as the Company deemed reasonable, patents, patent
applications, trademarks (including service marks and design marks) and applications therefor,
tradenames (all of the foregoing generically, “Intellectual Property Rights”) utilized in, or
necessary for, its business as now conducted (collectively, the “Company Intellectual Property”)
without infringing upon the right of any person, corporation or other entity.

               (b) Section 2.10 of the Schedule of Exceptions lists (i) all patents and patent applications
and all registered and unregistered trademarks, trade names, copyrights and maskworks and
registered domain names included in the Company Intellectual Property, including the jurisdictions
in which each such intellectual property right has been issued or registered or in which any
application for such issuance or registration has been filed, (ii) all licenses, sublicenses,
collaborations and other agreements (or options for any of the foregoing) to which the Company is a
party and pursuant to which any person, corporation or other entity is authorized to use any of the
Company Intellectual Property, and (iii) all licenses, sublicenses, collaborations and other
agreements (or options for any of the foregoing) to which the Company is a party and pursuant
to which the Company is authorized to use any Intellectual Property Right of any third party (other
than standard licenses for commercially available software). Each of the agreements in (ii) and
(iii) above remain in full force and effect and, to the Company’s knowledge, no party to any such
agreement is in material breach or default under such agreement, and the Company is not aware of
any act or failure to act by a party which would constitute a material breach or default under any
such agreement, give rise to a right of the licensor to terminate any such agreement or otherwise
result in termination of, or suspension or loss of exclusive rights under, any such agreement.

               (c) To the Company’s knowledge, the Company has not infringed or misappropriated any
Intellectual Property Right of any other person, corporation or other entity. The Company has not
received any communication or otherwise received any information alleging any such conduct by the
Company or asserting a claim by any third party to the ownership of, or right to use, any of the
Company Intellectual Property, and the Company does not know of any basis for any such claim. The
Company is not aware of any action, suit, proceeding or investigation pending or currently
threatened against the Company (or any third party owner or licensor of rights to the Company of
any of the Company Intellectual Property) which would have a material impact on the Company’s
ownership of or exclusive or co-exclusive rights to use, the Company Intellectual Property.

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               (d) The Company is not aware that any of its employees is obligated under any agreement, or
subject to any judgment, decree or order of any court or administrative agency, that would
materially interfere with his or her ability to fully and freely perform their duties to the
Company or that would conflict with the Company’s business. To the Company’s knowledge, neither
the filing of the Restated Articles nor the execution and delivery of this Agreement or the
Investor Rights Agreement, nor the carrying on of the Company’s business by the employees of the
Company, will conflict with or result in a material breach of the terms, conditions, or provisions
of, or constitute a default under, any agreement under which any such employee is now obligated.
The Company does not utilize, and will not be required to utilize, any invention, development or
work of authorship of any of its employees (or persons it currently intends to hire) made prior to
their employment by the Company.

               (e) Except as described in Schedule 2.10, (i) the Company is not obligated, or under any
liability whatsoever to make any payments by way of royalties, fees or otherwise, to any owner or
licensor of, or other claimant to, any Company Intellectual Property, and (ii) the Company is not a
party to any agreement concerning the Company Intellectual Property or any other Intellectual
Property Right used or to be used by the Company in its business as conducted. No founder,
director, officer or employee of the Company, or, to the Company’s knowledge, no shareholder of the
Company has any interest in the Company Intellectual Property.

               (f) Except with respect to any rights granted under the agreements described in Schedule 2.10,
the Company owns exclusively all rights arising from or associated with the research and
development efforts of the Company, its founders, employees and independent contractors relating to
the Company’s business as now conducted, and all such rights form part of
the Company Intellectual Property. The Company has secured valid written assignments from all
employees and independent contractors who contributed to the creation or development of any of the
Company Intellectual Property of the rights to such contributions that the Company does not already
own by operation of law. The Company has not received notice of any claim being asserted by any
current or former employee, independent contractor or other third party to the ownership, of or
right to use, any of the Company Intellectual Property, or challenging or questioning the validity
of any of the Company Intellectual Property, and the Company is not aware of any basis for any such
claim.

               (g) The Company has taken reasonable steps to protect and preserve the confidentiality of all
material trade secrets included in Company Intellectual Property not otherwise protected by patents
or copyright (“Confidential Information”). All disclosure of Confidential Information to a third
party has been pursuant to the terms of a written confidentiality or non-disclosure agreement
between the Company and such third party.

               (h) The Company hereby represents and warrants that the data, written and oral reports and
other representations and information that the Company provided to its investors (or their counsel)
pertaining to the Company Intellectual Property, when taken as a whole, were truthful and, to the
Company’s knowledge, accurate in all material respects, and there was no omission therefrom which
made such information misleading, or incomplete in any material way.

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          2.11 Compliance with Other Instruments. The Company is not in violation or default of any provision of its Articles of
Incorporation or Bylaws, each as amended and in effect on and as of the Closing. The Company is
not in violation or default of any material provision of any instrument, mortgage, deed of trust,
loan, contract, commitment, judgment, decree, order or obligation to which it is a party or by
which it or any of its properties or assets are bound or, to the best of its knowledge, of any
provision of any federal, state or local statute, rule or governmental regulation. The execution,
delivery and performance of and compliance with this Agreement and the Investor Rights Agreement,
and the issuance and sale of the Shares, will not result in any such violation, be in conflict with
or constitute, with or without the passage of time or giving of notice, a default under any such
provision, license, indenture, instrument, mortgage, deed of trust, loan, contract, commitment,
judgment, decree, order or obligation; or require any consent or waiver under any such provision,
license, indenture, instrument, mortgage, deed of trust, loan, contract, commitment, judgment,
decree, order or obligation (other than any consents or waivers that have been obtained); or result
in the creation of any mortgage, pledge, lien, encumbrance or charge upon any of the properties or
assets of the Company pursuant to any such provision, license, indenture, instrument, mortgage,
deed of trust, loan, contract, commitment, judgment, decree, order or obligation.

          2.12 Permits. The Company has all franchises, permits, licenses, and any
similar authority necessary for the conduct of its business as now being conducted by
it. The Company is not in default in any material respect under any of such
franchises, permits, licenses, or other similar authority.

          2.13 Environmental and Safety Laws. To its knowledge, the Company is not in violation of any applicable statute, law, or regulation
relating to the environment or occupational health and safety, and to its knowledge, no material
expenditures by the Company are or will be required in order to comply with any such existing
statute, law, or regulation.

          2.14 Title to Property and Assets. The Company has good and marketable title
to all of its properties and assets free and clear of all pledges, mortgages, liens
security interests, charges and encumbrances, except liens for current taxes and
assessments not yet due and possible minor liens and encumbrances which do not, in
any case, individually or in the aggregate, materially detract from the value of the
property subject thereto or materially impair the ownership or use of said property
or assets, or the operations of the Company. With respect to the property and assets
it leases, the Company is in compliance with such leases and, to the best of its
knowledge, holds a valid leasehold interest free of all liens, claims or
encumbrances. The Company’s properties and assets are in good condition and repair
in all material respects.

          2.15 Agreements; Action.

               (a) Except for agreements contemplated by this Agreement, there are no agreements,
understandings or proposed transactions between the Company and any of its officers, directors,
affiliates, or any affiliate thereof other than standard option grants and stock purchase
agreements entered into prior to the date of this Agreement.

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               (b) There are no agreements, understandings, instruments, contracts, proposed transactions,
judgments, orders, writs or decrees to which the Company is a party or by which it is bound that
may involve (i) obligations (contingent or otherwise) of, or payments by the Company in excess of,
$100,000, other than in the ordinary course of business, (ii) the license of any patent, copyright,
trade secret or other proprietary right to or from the Company other than standard commercial
software licenses, (iii) provisions restricting or adversely affecting the development, manufacture
or distribution of the Company’s products or services, or (iv) indemnification by the Company with
respect to infringements of proprietary rights other than indemnifications entered into in the
ordinary course of business.

               (c) For the purposes of subsection (b) above, all indebtedness, liabilities, agreements,
understandings, instruments, contracts and proposed transactions involving the same person or
entity (including persons or entities the Company has reason to believe are affiliated therewith)
shall be aggregated for the purpose of meeting the individual minimum dollar amounts of such
subsection.

               (d) The Company is not a party to and is not bound by any contract, agreement or instrument,
or subject to any restriction under its Restated Articles or its Bylaws that adversely affects its
business as now conducted, its properties or its financial condition.

               (e) The Company is not a guarantor or indemnitor of any indebtedness of any other person or
entity.

               (f) The Company has not engaged in the past three months in any discussion (i) with any
representative of any entity or entities regarding the merger of the Company with or into any such
entity or entities or any affiliate thereof, (ii) with any representative of any entity or any
individual regarding the sale, conveyance or disposition of all or substantially all of the assets
of the Company or a transaction or series of related transactions in which more than fifty percent
(50%) of the voting power of the Company would be disposed of, or (iii) regarding any other form of
liquidation, dissolution or winding up of the Company.

          2.16 Financial Statements. The Company has made available to each Purchaser
its unaudited balance sheet dated as of December 31, 2005 and the unaudited statement
of operations for the fiscal year then ended, its unaudited balance sheet as of March
31, 2006, and its unaudited statement of operations and cash flow statement covering
the three month period then ended (collectively, the “Financial Statements”). The
Financial Statements are complete and correct in all material respects and have been
prepared in accordance with generally accepted accounting principles applied on a
consistent basis throughout the periods indicated. The Financial Statements
accurately set out and describe the financial condition and operating results of the
Company as of the date, and during the periods, indicated therein. Except as set
forth in the Financial Statements, the Company has no material liabilities,
contingent or otherwise, other than (i) liabilities incurred in the ordinary course
of business subsequent to March 31, 2006 and (ii) obligations under contracts and
commitments incurred in the ordinary course of business and not required under
generally accepted accounting principles to be reflected in the Financial Statements,
which, in both cases, individually or in the aggregate are not material to the
financial condition or operating results of the Company.

-8-

 

          2.17 Changes. Since March 31 2006:

          (a) the Company has not (i) declared or paid any dividends or authorized or made any
distribution upon or with respect to any class or series of its capital stock, (ii) incurred any
indebtedness for money borrowed or any other liabilities outside the ordinary course of its
business individually in excess of $100,000 or, in the case of indebtedness and/or liabilities
individually less than $100,000, in excess of $200,000 in the aggregate, (iii) made any loans or
advances to any person, other than ordinary advances for reimbursable businesses expenses,
(iv) sold, exchanged, assigned, transferred, licensed or otherwise disposed of any of its assets or
rights (including Company Intellectual Property), other than the sale of its inventory in the
ordinary course of business, (v) waived or compromised a valuable right or a material debt owed to
it, (vi) materially changed any compensation arrangement or agreement with any employee, officer,
director or shareholder, or (vii) arranged or committed to do any of the things described in this
subsection (a); and

          (b) there has not been (i) a loss of, or a material order cancellation by, any major customer
of the Company, (ii) any damage, destruction or loss, whether or not covered by insurance,
materially and adversely affecting the business, properties, or financial condition of the Company,
(iii) any change in the assets, liabilities, financial condition or operating results of the
Company from that reflected in the Financial Statements, except changes in the ordinary course of
business that have not been, in the aggregate, materially adverse, (iv) any resignation or
termination of any officer or key employee of the Company, and the Company is not aware of the
impending resignation or termination of employment of any such officer, or (v) to the best of the
Company’s knowledge, any other event or condition of any character that would materially and
adversely affect the business, properties, or financial condition of the Company.

          2.18 Brokers or Finders. The Company has not agreed to incur, directly or
indirectly, any liability for brokerage or finders’ fees, agents’ commissions or
other similar charges in connection with this Agreement or any of the transactions
contemplated hereby.

          2.19 Qualified Small Business Stock.

          (a) As of and immediately following the Closing, the Shares will meet each of the requirements
for qualification as “qualified small business stock” set forth in Section 1202(c) of the Internal
Revenue Code of 1986, as amended (the “Code”), including without limitation the following: (i) the
Company will be a domestic C corporation, (ii) the Company will not have made any purchases of its
own stock described in Code Section 1202(c)(3)(B) during the one-year period preceding the Closing,
and (iii) the Company’s (and any predecessor’s) aggregate gross assets, as defined by Code Section
1202(d)(2), at no time from the date of incorporation of the Company and through the Closing have
exceeded or will exceed $50 million, taking into account the assets of any corporations required to
be aggregated with the Company in accordance with Code Section 1202(d)(3).

          (b) As of the Closing, at least 80% (by value) of the assets of the Company are used by it in
the active conduct of one or more qualified trades or businesses, as defined by Code

-9-

 

Section
1202(e)(3), and the Company is an eligible corporation, as defined by Code Section 1202(e)(4).

          2.20 Employee Benefit Plans. The Company does not have any Employee Benefit
Plan as defined in the Employee Retirement Income Security Act of 1974 other than the
Company’s 401(k) Plan. The Company is in material compliance with the terms of the
Company’s 401(k) Plan and has not received notice of any material increase in the
costs of such plans.

          2.21 Tax Matters. The Company has filed all tax returns and reports as
required by law. These returns and reports are true and correct in all material
respects. The Company has paid all taxes and other assessments due. The Company has
not elected
pursuant to the Code, to be treated as a Subchapter S corporation or a collapsible
corporation pursuant to Section 1362(a) or Section 341(f) of the Code, nor has it
made any other elections pursuant to the Code (other than elections that relate
solely to methods of accounting, depreciation or amortization) that would have a
material effect on the business, properties or condition (financial or otherwise) of
the Company. None of the Company’s tax returns have ever been audited by any
governmental authorities. The Company has withheld or collected from each payment
made to its employees the amount of all taxes (including without limitation, federal
income taxes, Federal Insurance Contribution Act taxes and Federal Unemployment Tax
Act taxes) required to be withheld or collected therefrom, and has paid the same to
the proper tax receiving officers or authorized depositories.

          2.22 Insurance. The Company has in full force and effect fire and casualty
insurance policies, with extended coverage, sufficient in amount (subject to
reasonable deductibles) to allow it to replace any of its properties that might be
damaged or destroyed. The Company has obtained term life insurance payable to the
Company on the lives of Stephen Quake and Gajus Worthington in the amount of
$500,000. The Company has in full force and effect directors and officers liability
insurance, covering all of its directors, with aggregate coverage in the amount of
$2,000,000.

          2.23 Corporate Documents. The Restated Articles and Bylaws of the Company
are in the form made available to the Purchasers. The copy of the minute books of
the Company made available to the Purchasers’ counsel contains true and correct
minutes of all meetings of directors (including any committees thereof) and
shareholders and all actions by written consent taken without a meeting by the
directors and shareholders since December 18, 2003.

          2.24 Disclosure. The Company has fully provided each Purchaser with all the
information which such Purchaser has requested in connection with the purchase of the
Shares hereunder, as well as all information which the Company in its judgment
believes is reasonably necessary to enable such Purchaser to make a decision as to
whether to invest in the Company. Neither this Agreement with the Exhibits hereto,
nor any other statements, certificates or documents made or delivered in connection
herewith or therewith, contains any untrue statement of a material fact or omits to
state a material fact necessary to make the statements herein or therein not
misleading in light of the circumstances under which they were made. The financial
projections made available to the Purchasers (the “Projections”) were prepared in
good faith and based upon assumptions that the Company believes are reasonable, and
represent the Company’s good faith

-10-

 

estimate of its future plans and results; provided
however that the Company does not represent or warrant that it will achieve any of
the Projections.

          2.25 Offering. Subject in part to the truth and accuracy of each Purchaser’s representations set forth in
this Agreement, the offer, sale and issuance of the Shares as contemplated by this Agreement is
exempt from the registration requirements of the Securities Act of 1933, as amended (the
“Securities Act”), and from the registration or qualification requirements of applicable state
securities laws or blue sky laws, and neither the Company nor any authorized agent acting on its
behalf will take any action hereafter that would cause the loss of such exemption.

          2.26 Returns and Complaints. The Company has not received customer
complaints concerning alleged defects in the design of its products that, if true,
would have, individually or in the aggregate, a material adverse effect on its
business, properties, or financial condition.

     3. Representations and Warranties of the Purchasers. Each Purchaser, individually
and not jointly, hereby represents and warrants as of the Closing Date that:

          3.1 Experience. Such Purchaser is experienced in evaluating start-up
companies such as the Company, is able to evaluate and represent its own interests in
transactions such as the one contemplated by this Agreement, has such knowledge and
experience in financial and business matters such that Purchaser is capable of
evaluating the merits and risks of Purchaser’s prospective investment in the Company,
and has the ability to bear the economic risks of its investment.

          3.2 Investment. Such Purchaser is acquiring the Shares, and the Conversion
Shares, for investment for such Purchaser’s own account and not with the view to, or
for resale in connection with, any distribution thereof. Such Purchaser understands
that the Shares, and the Conversion Shares have not been registered under the
Securities Act by reason of a specific exemption from the registration provisions of
the Securities Act which depends upon, among other things, the bona fide nature of
the investment intent as expressed herein. Such Purchaser further represents that it
does not have any contract, undertaking, agreement or arrangement with any person to
sell, transfer or grant participation to any third person with respect to any of the
Shares, or the Conversion Shares, other than a transfer not involving a change of
beneficial ownership. Such Purchaser understands and acknowledges that the offering
of the Shares pursuant to this Agreement will not be registered under the Securities
Act on the ground that the sale provided for in this Agreement is exempt from the
registration requirements of the Securities Act.

          3.3 Rule 144. Such Purchaser acknowledges that the Shares and the Conversion
Shares must be held indefinitely unless subsequently registered under the Securities
Act or an exemption from such registration is available. Such Purchaser is aware of
the provisions of Rule 144 promulgated under the Securities Act which permit limited
resale of shares purchased in a private placement subject to the satisfaction of
certain conditions. Such Purchaser covenants that, in the absence of an effective
registration statement covering the stock in question, such Purchaser will sell,
transfer, or otherwise dispose of the Shares or the Conversion Shares only in a
manner consistent
with applicable securities laws and such Purchaser’s representations and covenants
set forth in this Section 3. In connection therewith, such Purchaser acknowledges
that the Company

-11-

 

will make a notation on its stock books regarding the restrictions
on transfers set forth in this Section 3 and will transfer securities on the books of
the Company only to the extent not inconsistent therewith.

          3.4 Legends. Purchaser understands and acknowledges that the certificate
evidencing its Shares and the Conversion Shares will be imprinted with legends in the
form set forth in Section 1.3 of the Investor Rights Agreement.

          3.5 No Public Market. Such Purchaser understands that no public market now
exists for any of the securities issued by the Company, and that the Company has made
no assurances that a public market will ever exist for the Shares or the Conversion
Shares.

          3.6 Access to Data. Such Purchaser has received and reviewed information
about the Company and has had an opportunity to discuss the Company’s business,
management and financial affairs with its management and to review the Company’s
facilities. The foregoing, however, does not limit or modify the representations and
warranties of the Company in Section 2 of this Agreement or the right of the
Purchasers to rely thereon.

          3.7 Authorization. This Agreement when executed and delivered by such
Purchaser will constitute a valid and legally binding obligation of the Purchaser,
enforceable against the Purchaser in accordance with its terms, subject to:
(i) judicial principles respecting election of remedies or limiting the availability
of specific performance, injunctive relief, and other equitable remedies;
(ii) bankruptcy, insolvency, reorganization, moratorium or other similar laws now or
hereafter in effect generally relating to or affecting creditors’ rights; and
(iii) limitations on the enforceability of the indemnification provisions of the
Investor Rights Agreement.

          3.8 Accredited Investor. Such Purchaser acknowledges that it is an
“accredited investor” as defined in Rule 501 of Regulation D as promulgated by the
Securities and Exchange Commission under the Securities Act and shall submit to the
Company such further assurances of such status as may be reasonably requested by the
Company. The principal address of such Purchaser is as set forth on the Schedule of
Purchasers.

          3.9 Public Solicitation. Purchaser knows of no public solicitation or
advertisement of an offer in connection with the proposed issuance and sale of the
Shares.

          3.10 Tax Advisors. Purchaser has reviewed with Purchaser’s own tax advisors
the federal, state and local tax consequences of this investment, where applicable,
and the transactions contemplated by this Agreement. Each Purchaser is relying
solely on
such advisors and not on any statements or representations of the Company or any of
its agents and understands that each Purchaser (and not the Company) shall be
responsible for the Purchaser’s own tax liability that may arise as a result of this
investment or the transactions contemplated by this Agreement.

          3.11 Purchaser Counsel. Purchaser acknowledges that it has had the
opportunity to review this Agreement, the exhibits and the schedules attached hereto
and the transactions contemplated by this Agreement with Purchaser’s own legal
counsel. Each Purchaser is relying

-12-

 

solely on such counsel and not on any statements
or representations of the Company or any of its agents for legal advice with respect
to this investment or the transactions contemplated by this Agreement.

          3.12 Brokers or Finders. The Company has not incurred and will not incur,
directly or indirectly, as a result of any action taken by such Purchaser, any
liability for brokerage or finders’ fees or agents’ commissions or any similar
changes in connection with this Agreement.

          3.13 Non-United States Persons. If Purchaser is not a United States person, such Purchaser hereby represents that such
Purchaser is satisfied as to the full observance of the laws of such Purchaser’s jurisdiction in
connection with any invitation to subscribe for the Shares and the Conversion Shares or any use of
this Agreement, the Investor Rights Agreement and the Voting Agreement, including (i) the legal
requirements within such Purchaser’s jurisdiction for the purchase of Shares and the Conversion
Shares, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental
or other consents that may need to be obtained and (iv) the income tax and other tax consequences,
if any, that may be relevant to the purchase, holding, redemption, sale or transfer of such
securities. Such Purchaser’s subscription and payment for, and such Purchaser’s continued
beneficial ownership of, the Shares and the Conversion Shares will not violate any applicable
securities or other laws of such Purchaser’s jurisdiction.

     4. Conditions of Purchaser’s Obligations at Closing. The obligations of each
Purchaser under this Agreement are subject to the fulfillment on or before the Closing of each
of the following conditions, the waiver of which shall not be effective against any Purchaser
who does not consent in writing thereto:

          4.1 Representations and Warranties. The representations and warranties of
the Company contained in Section 2 shall be true on and as of the Closing with the
same effect as though such representations and warranties had been made on and as of
the date of the Closing.

          4.2 Performance. The Company shall have performed and complied with all
agreements, obligations and conditions contained in this Agreement that are required
to be performed or complied with by it on or before the Closing.

          4.3 Compliance Certificate. The President of the Company shall deliver to
each Purchaser at the Closing a certificate stating that the conditions specified in
Sections 4.1 and 4.2 have been fulfilled and stating that as of the Closing there
shall have been no adverse change in the business, affairs, operations, properties,
assets or condition of the Company.

          4.4 Blue Sky. The Company shall have obtained all necessary permits and
qualifications, if any, or secured an exemption therefrom, required by any state or
country prior to the offer and sale of the Shares.

          4.5 Opinion of Company Counsel. Each Purchaser in the Initial Closing shall
have received from Wilson Sonsini Goodrich & Rosati, Professional Corporation,
counsel for the Company, an opinion, dated as of the Initial Closing, in the form
attached hereto as EXHIBIT E.

-13-

 

          4.6 Investor Rights Agreement. The Company and each Purchaser shall have
entered into the Investor Rights Agreement.

          4.7 Restated Articles. The Restated Articles shall have been accepted for
filing by the California Secretary of State and shall be in full force and effect as
of the Closing Date.

          4.8 Corporate Proceedings; Waivers and Consents. All corporate and other
proceedings to be taken and all waivers, consents and permits necessary or
appropriate for the consummation of the transactions contemplated by this Agreement
will have been taken or obtained.

     5. Conditions of the Company’s Obligations at Closing. The obligations of the
Company to each Purchaser under this Agreement are subject to the fulfillment on or before the
Closing of each of the following conditions by that Purchaser:

          5.1 Representations and Warranties. The representations and warranties of
the Purchasers contained in Section 3 shall be true on and as of the Closing with the
same effect as though such representations and warranties had been made on and as of
the Closing.

          5.2 Payment of Purchase Price. Each Purchaser shall have delivered the
purchase price against delivery of the Shares as set forth in Section 1.4 by the
Company to such Purchaser.

          5.3 Blue Sky. The Company shall have obtained all necessary permits and
qualifications, if any, or secured an exemption therefrom, required by any state or
country for the offer and sale of the Shares.

          5.4 Investor Rights Agreements. The Company and each Purchaser shall have
entered into the Investor Rights Agreement.

          5.5 Restated Articles . The Restated Articles shall have been accepted for
filing by the California Secretary of State and shall be in full force and effect as
of the Closing Date.

          5.6 Proceedings and Documents. All corporate and other proceedings in
connection with the transactions contemplated at the Closing hereby, and all
documents and instruments incident to these transactions, shall be reasonably
satisfactory in substance to the Company and its counsel.

     6. Miscellaneous.

          6.1 Governing Law; Jurisdiction. This Agreement and all acts and
transactions pursuant hereto and the rights and obligations of the parties hereto
shall be governed in all respects by the laws of the State of California, without
regard to any provisions thereof relating to conflicts of laws among different
jurisdictions. The parties hereto agree to submit to the exclusive jurisdiction of
the federal and state courts of San Mateo County, California with respect to the
breach or interpretation of this Agreement or the enforcement of any and all rights,
duties, liabilities, obligations, powers, and other relations between the parties
arising under this Agreement.

-14-

 

          6.2 Indemnification. The Company shall indemnify, defend and hold each
Purchaser harmless against all liability, loss or damage (collectively, “Losses” and
individually, a “Loss”) arising from any litigation, proceeding or dispute arising
from such Purchaser’s status as a shareholder of the Company other than Losses
arising from such Purchaser’s gross negligence or willful misconduct, provided that
such indemnification shall apply only to litigation, proceedings or disputes arising
prior to the Company’s Initial Public Offering (as defined in the Investor Rights
Agreement) and the Company’s obligation to indemnify any Purchaser shall be limited
in amount to the amount paid by such Purchaser for the purchase of such Purchaser’s
Shares as set forth on EXHIBIT A. The foregoing indemnity is not intended to
supercede or replace the indemnification obligations of the parties set forth in
Section 1.10 of the Investor Rights Agreement nor shall it be construed to limit any
other rights and remedies of the Purchasers under this Agreement or any other
indemnification to which such Purchaser may be entitled under any other agreement of
the Company. The foregoing indemnification rights are transferable only to
Affiliates (as defined in the Investor Rights Agreement) of a Purchaser.

          6.3 Survival. The representations, warranties, covenants and agreements made
herein shall survive any investigation made by any Purchaser or the Company and the
Closing of the transactions contemplated hereby; provided, however, that such
representations and warranties are only made as of the date of such execution and
delivery and as of such Closing.

          6.4 Successors and Assigns. Except as otherwise provided herein, the
provisions hereof shall inure to the benefit of, and be binding upon, the successors,
assigns, heirs, executors and administrators of the parties hereto; provided,
however, that the rights of a Purchaser to purchase Shares at the Closing shall not
be assignable without the consent of the Company.

          6.5 Entire Agreement; Amendment. This Agreement and the other documents
delivered pursuant hereto constitute the full and entire understanding and agreement
among the parties with regard to the subjects hereof and thereof relating to the
purchase of the Shares. Neither this Agreement nor any term hereof may be amended,
waived, discharged or terminated other than by a written instrument signed by the
Company and the holder or holders of greater than fifty percent (50%) of the
then-outstanding Shares or the Conversion Shares. Notwithstanding the foregoing, any
additional purchaser pursuant to Section 1.2 may become a party to this Agreement by
executing and delivering an additional counterpart signature page to this Agreement
and such purchaser shall be deemed a Purchaser hereunder. The parties agree that the
Schedule of Purchasers attached hereto as Exhibit A shall be updated
automatically without any formal amendment to reflect the addition of any such
additional Purchaser. Any amendment or waiver effected in accordance with this
Section 6.5 shall be binding upon the Purchasers and each transferee of the Shares
(or the Common Stock issuable upon conversion thereof), each future holder of all
such securities, and the Company.

          6.6 Notices, Etc. All notices and other communications required or permitted
hereunder, shall be in writing and shall be personally delivered, sent by facsimile,
mailed by registered or certified mail, postage prepaid, return receipt requested, or
delivered by a nationally recognized overnight courier, addressed (a) if to a
Purchaser, at such Purchaser’s address or

-15-

 

facsimile number set forth on the Schedule
of Purchasers, or at such other address or facsimile number as such Purchaser shall
have furnished to the Company in writing, or (b) if to the Company, at its address or
facsimile number set forth on the signature page to this Agreement addressed to the
attention of the Corporate Secretary, or at such other address or facsimile number as
the Company shall have furnished to the Purchasers. Any such notice or communication
shall be deemed to have been received (A) in the case of personal delivery or
delivery by telecopier, on the date of such delivery, (B) in the case of a commercial
overnight courier, on the next business day after the date when sent and (C) in the
case of mailing, on the fifth business day following that on which the piece of mail
containing such communication is posted.

          6.7 Delays or Omissions. No delay or omission to exercise any right, power
or remedy accruing to any holder of any Shares upon any breach or default of the
Company under this Agreement shall impair any such right, power or remedy of such
holder, nor shall it be construed to be a waiver of any such breach or default, or an
acquiescence therein, or of or in any similar breach or default thereafter occurring;
nor shall any waiver of any single breach or default be deemed a waiver of any other
breach or default theretofore or thereafter occurring. Any waiver, permit, consent
or approval of any kind or character on the part of any holder of any breach or
default under this Agreement, or any waiver on the part of any holder of any
provisions or conditions of this Agreement, must be in writing and shall be effective
only to the extent specifically set forth in such writing or as provided in this
Agreement. All remedies, either under this Agreement or by law or otherwise afforded
to any holder, shall be cumulative and not alternative.

          6.8 California Corporate Securities Law. THE SALE OF THE SECURITIES WHICH
ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF
CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE
PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR TO SUCH
QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM THE
QUALIFICATION BY SECTION 25100, 25102, OR 25105 OF THE CALIFORNIA CORPORATIONS CODE.
THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH
QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT.

          6.9 Finder’s Fee. The Company and each Purchaser shall each indemnify and
hold the other harmless from any liability for any commission or compensation in the
nature of a finder’s fee (including the costs, expenses and legal fees of defending
against such liability) for which the Company or the Purchasers, or any of their
respective partners, employees, or representatives, as the case may be, is
responsible.

          6.10 Expenses. The Company and each Purchaser shall bear its own expenses
and legal fees incurred on its behalf with respect to this Agreement and the
transactions contemplated hereby.

          6.11 Waiver of Conflict. Each of the Purchasers and the Company acknowledges
that Wilson Sonsini Goodrich & Rosati, Professional Corporation (“WSGR”) may have
represented and may currently represent Purchasers. In the course of such
representation, WSGR may have

-16-

 

come into possession of confidential information
relating to such Purchasers. Each of the Purchasers and the Company acknowledges
that WSGR is representing only the Company in this transaction. Pursuant to Rule
3-310 of the Rules of Professional Conduct promulgated by the State Bar of
California, an attorney must avoid representations in which the attorney has or had a
relationship with another party interested in the representation without the informed
written consent of all parties affected. By executing this Agreement, each of the
Purchasers
and the Company hereby waives any actual or potential conflict of interest that may
arise in this financing as a result of WSGR’s representation of such persons or
entities, WSGR’s possession of such confidential information and the participation by
WSGR’s affiliate in the financing. Each of the Purchasers and the Company represents
that it has had the opportunity to consult with independent counsel concerning the
giving of this waiver.

          6.12 Severability. In the event that any provision of this Agreement becomes
or is declared by a court of competent jurisdiction to be illegal, unenforceable or
void, this Agreement shall continue in full force and effect without said provision;
provided that no such severability shall be effective if it materially changes the
economic benefit of this Agreement to any party.

          6.13 Counterparts; Facsimile. This Agreement may be executed in any number
of counterparts, each of which may be executed by less than all Purchasers, each of
which shall be enforceable against the parties actually executing such counterparts,
and all of which together shall constitute one instrument. This Agreement may be
executed by facsimile signature.

          6.14 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.

          6.15 Exculpation Among Purchasers. Each Purchaser acknowledges that it is
not relying upon any person, firm or corporation (including without limitation any
other Purchaser), other than the Company and its officers and directors (acting in
their capacity as representatives of the Company), in deciding to invest and in
making its investment in the Company. Each Purchaser agrees that no other Purchaser
nor the respective controlling persons, officers, directors, partners, agents or
employees of any other Purchaser shall be liable to such Purchaser for any losses
incurred by such Purchaser in connection with its investment in the Company.

          6.16 Like Treatment of Holders. The Company shall not directly or indirectly
pay or cause to be paid any consideration, whether by way of interest, fee, payment
for the redemption or exchange of Preferred Stock, or otherwise to any holder of
Preferred Stock for or as inducement to, any consent, waiver or amendment of any term
or provision of the Preferred Stock, this Agreement or the Investor Rights Agreement
unless equivalent consideration is offered on equivalent terms and conditions to all
Purchasers of Preferred Stock under this Agreement bound by such consent, waiver or
amendment.

          6.17 Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING (WHETHER
SOUNDING IN CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATED TO THIS AGREEMENT.

-17-

 

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

	 	 	 	 	 
	 	FLUIDIGM CORPORATION

 	 
	 	By:  	/s/ Gajus Worthington
 	 
	 	 	Gajus Worthington 	 
	 	 	President and Chief Executive Officer

7100 Shoreline Court

South San Francisco, CA 94080

FAX: (650) 871-7195 	 
	 

[FLUIDIGM CORPORATION SERIES E PREFERRED STOCK PURCHASE AGREEMENT]

 

 

	 	 	 	 	 
	 	 	PURCHASER:
	 
	 	 	 	 
	 	 	AllianceBernstein L.P.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Adam Spilka
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:
	 	Adam Spilka
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:
	 	SVP, Counsel, Secretary
	 

	 	 	 	 

[FLUIDIGM CORPORATION SERIES E PREFERRED STOCK PURCHASE AGREEMENT]

 

 

EXHIBIT A

SCHEDULE OF PURCHASERS

	 	 	 	 	 	 	 	 	 
	Name and Address	 	Shares of Series E	 	Purchase Price
	AllianceBernstein L.P.
	 	 	1,250,000	 	 	$	5,000,000.00	 
	TOTALS
	 	 	1,250,000	 	 	$	5,000,000.00	 

 

 

FLUIDIGM CORPORATION

AMENDMENT NO. 1 TO

SERIES E PREFERRED STOCK PURCHASE AGREEMENT

     This Amendment No. 1 (the “Amendment”) to that certain Series E Preferred Stock Purchase
Agreement, dated as of June 13, 2006 (the “Purchase Agreement”), is made and entered into effective
as of December 22, 2006 (the “Effective Date”) by and among Fluidigm Corporation, a California
corporation (the “Company”), and the Purchasers named therein. Capitalized terms used in this
Amendment that are not otherwise defined herein shall have the respective meanings assigned to them
in the Purchase Agreement.

RECITALS

     WHEREAS, the Company previously sold and issued an aggregate of 1,250,000 shares of Series E
Preferred Stock of the Company (the “Series E Preferred”) pursuant to the terms of the Purchase
Agreement at the Initial Closing held on June 13, 2006;

     WHEREAS, the Company and the Purchaser now desire to amend the terms of the Purchase Agreement
to provide that the Company may sell and issue additional shares of Series E Preferred pursuant to
the Purchase Agreement, at one or more additional Subsequent Closings, provided that any such
additional Subsequent Closings shall take place no later than March 31, 2007.

     WHEREAS, pursuant to Section 6.5 of the Purchase Agreement, the terms of the Purchase
Agreement may be amended upon the written consent of the Company and the holder or holders of
greater than fifty percent (50%) of the outstanding Shares or the Conversion Shares; and

     WHEREAS, the Purchaser who has signed below holds greater than fifty percent (50%) of the
outstanding Shares purchased under the Purchase Agreement as of the Effective Date and consents to
the changes as set forth in this Amendment.

     NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
mutually agree as follows:

AGREEMENT

     1. Amendment to Section 1.1. Section 1.1 (Authorization of the Shares) of the
Purchase Agreement is hereby amended and restated in its entirety as follows:

     “1.1 Authorization of the Shares. The Company will on or
before the Closing (as defined below) authorize the sale and issuance
pursuant to this Agreement of up to 6,318,333 shares (the “Shares”) of its

- 1 -

 

Series E Preferred Stock (the “Series E Preferred”), having the rights,
preferences and privileges as set forth in the Amended and Restated Articles
of Incorporation attached hereto as EXHIBIT B (the “Restated
Articles”).”

     2. Amendment to Section 1.2. Section 1.2 (Purchase and Sale of the Shares) of the
Purchase Agreement is hereby amended and restated in its entirety as follows:

     “1.2 Purchase and Sale of the Shares. Subject to the terms and
conditions hereof and in reliance upon the representations, warranties and
agreements contained herein, the Company will issue and sell to each
Purchaser, severally and not jointly, and each Purchaser will purchase from
the Company, severally and not jointly, at the Closing, the number of Shares
set forth opposite the Purchaser’s name on the Schedule of Purchasers, at a
purchase price of Four Dollars ($4.00) per Share. The Company shall be
entitled to sell any unpurchased Shares to any Purchaser or to a person who
is not a Purchaser and to amend the Schedule of Purchasers to include the
information relating to such sales, and such purchasers shall be considered
“Purchasers” and parties to this Agreement; provided that (i) such sales are
made pursuant to this Agreement or an agreement identical to this one except
for the Closing Date and exhibits, and (ii) such sales are completed on or
prior to March 31, 2007. The Company’s agreement with each Purchaser is a
separate agreement, and the sale of the Shares to each Purchaser is a
separate sale.”

     3. Governing Law. This Amendment shall be governed in all respects by the laws of the
State of California, without regard to any provisions thereof relating to conflicts of laws among
different jurisdictions.

     4. Purchase Agreement. Wherever necessary, all other terms of the Purchase Agreement
are hereby amended to be consistent with the terms of this Amendment. Except as specifically set
forth herein, the Purchase Agreement shall remain in full force and effect.

     5. Counterparts; Facsimile. This Amendment may be executed in any number of
counterparts, each of which shall be an original, and all of which together shall constitute one
instrument. Executed signatures transmitted via facsimile will be accepted and considered duly
executed.

     6. Effect of Execution of Amendment by Certain Purchaser. This Amendment, when
executed and delivered by the Company and a Purchaser purchasing shares of Series E Preferred at a
Subsequent Closing held on or after the date hereof, shall also constitute and shall be deemed a
counterpart signature page to the Purchase Agreement. Consequently, each undersigned Purchaser
purchasing shares of Series E Preferred at a Subsequent Closing held on or after the date hereof
acknowledges and agrees that he, she or it is bound by the terms and

- 2 -

 

conditions contained in the Purchase Agreement, as amended by this Amendment, with respect to
the purchase of such shares.

[Remainder of page intentionally left blank]

- 3 -

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

	 	 	 	 	 
	COMPANY:	FLUIDIGM CORPORATION

a California corporation

 	 
	 	By:  	/s/ Gajus Worthington
 	 
	 	 	Gajus Worthington, 	 
	 	 	President and Chief Executive Officer 	 
	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	Cross Creek Capital, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Cross Creek Capital GP, L.P.	 	 
	 

	 	 	 	Its Sole General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Cross Creek Capital, LLC	 	 
	 

	 	 	 	Its Sole General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Wasatch Advisors, Inc. 

Its Sole Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Karey Barker
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Karey Barker	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 

	 	 	 	 	 	 	 
	 	 	Cross Creek Capital Employees’ Fund, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Cross Creek Capital GP, L.P.	 	 
	 

	 	 	 	Its Sole General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Cross Creek Capital, LLC	 	 
	 

	 	 	 	Its Sole General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Wasatch Advisors, Inc.	 	 
	 

	 	 	 	Its Sole Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Karey Barker
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Karey Barker	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	WASATCH FUNDS, INC.

Wasatch Small Cap Growth Fund	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Wasatch Advisors, Inc.	 	 
	 

	 	Its:
	 	Investment Adviser	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Dan Thurber
 

Name: Dan Thurber
	 	 
	 

	 	 	 	Title: Vice President	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	SMALLCAP World Fund, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Capital Research and Management Company,	 	 
	 

	 	 	 	its, investment adviser	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Downer
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Michael Downer	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	AllianceBernstein Venture Fund I, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	AllianceBernstein ESG Venture Management, L.P.,
its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	AllianceBernstein Global Derivatives Corporation,
its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ James D. Kiggen
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	James D. Kiggen	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASER:

	 	 	 	 	 	 	 
	 

	 	Versant
	 	Affiliates Fund 1-A, L.P.	 	 
	 

	 	Versant
	 	Affiliates Fund 1-B, L.P.	 	 
	 

	 	Versant
	 	Side Fund I, L.P.	 	 
	 

	 	Versant
	 	Venture Capital I, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Versant Ventures I, LLC	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Samuel D. Colella
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Samuel D. Colella	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Director	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	Lehman Brothers Healthcare Venture Capital L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Lehman Brothers HealthCare Venture Capital Associates L.P.,	 	 
	 

	 	 	 	its General Partner	 	 
	 

	 	By:
	 	LB I Group Inc., its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Odrich
 

	 	 
	 

	 	Name:
	 	Michael Odrich	 	 
	 

	 	Its:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	Lehman Brothers P.A. LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Odrich
 

	 	 
	 

	 	Name:
	 	Michael Odrich	 	 
	 

	 	Its:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	Lehman Brothers Partnership Account 

2000/2001, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	LB I Group Inc., its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Odrich
 

	 	 
	 

	 	Name:
	 	Michael Odrich	 	 
	 

	 	Its:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	Lehman Brothers Offshore Partnership Account 2000/2001, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	LB I Offshore Partners Group Ltd., its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Odrich
 

	 	 
	 

	 	Name:
	 	Michael Odrich	 	 
	 

	 	Its:
	 	Senior Vice President	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	EuclidSR Partners, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	EuclidSR Associates, L.P.	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Elaine V. Jones
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Elaine V. Jones	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	General Partner	 	 
	 
	 	 	 	 	 	 
	 	 	EuclidSR Biotechnology Partners, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	EuclidSR Biotechnology Associates, L.P.	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Elaine V. Jones
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Elaine V. Jones	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	General Partner	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	Iinterwest Partners VII, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	InterWest Management Partners VII, LLC	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Sweeney
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Michael Sweeney	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	As agent for the general partner	 	 
	 
	 	 	 	 	 	 
	 	 	Interwest Investors VII, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	InterWest Management Partners VII, LLC	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Sweeney
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Michael Sweeney	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	As agent for the general partner	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	Lilly Bioventures, Eli Lilly & Company	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Thomas W. Grein
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Thomas W. Grein	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President and Treasurer	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	Alloy Ventures 2005, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Alloy Ventures 2005, LLC	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Tony DiBona
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Toni DiBona	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Member of Alloy Ventures
2005 LLC	 	 
	 
	 	 	 	 	 	 
	 	 	Alloy Ventures 2002, L.P.	 	 
	 	 	Alloy Partners 2002, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Alloy Ventures 2002, LLC	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Tony DiBona
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Tony DiBona	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Member of Alloy
Ventures
2002, LLC, the general partner of Alloy
Partners 2002, L.P. and Alloy Ventures
2002, L.P.	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	SightLine Healthcare Fund III, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Kenneth E. Higgins
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Kenneth E. Higgins	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Director of Sightline
Partners
LLC, general partner of its general partner	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASER:

	 	 	 	 	 
	 	 	 
	 	/s/ Bruce Burrows
 	 
	 	Bruce Burrows 	 
	 	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

	 	 	 	 	 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.

PURCHASER:

	 	 	 	 	 
	 	 	 
	 	/s/ John M. Harland
 	 
	 	John M. Harland 	 
	 	 	 
	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	Ferguson/Egan Family Trust dated 6/28/99	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Rodney A. Ferguson
 

Rodney A. Ferguson
	 	 
	 

	 	Title:
	 	Trustee	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	Health Care Administration Company	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Gary L. Bowers
 

	 	 
	 

	 	Name:
	 	Gary L. Bowers	 	 
	 

	 	Title:
	 	President	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	The Condon Family Trust	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Thomas J. Condon
 

	 	 
	 

	 	Name:
	 	Thomas J. Condon	 	 
	 

	 	Title:
	 	Trustee	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	In-Q-Tel, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Scott G. Yancey
 

	 	 
	 

	 	Name:
	 	Scott G. Yancey	 	 
	 

	 	Title:
	 	Executive Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	In-Q-Tel Employee Fund, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Scott G. Yancey	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Scott G. Yancey	 	 
	 

	 	Title:
	 	EVP of In-Q-Tel, Inc., the manager of the
fund	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.

PURCHASER:

	 	 	 	 	 	 	 
	 	 	The V Foundation for Cancer Research	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Nicholas Valvano
 

Nicholas Valvano
	 	 
	 

	 	Title:
	 	Chief Executive Officer	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.

PURCHASER:

	 	 	 	 	 
	 

	 	/s/ Fredrick H. Stern
 

Fredrick H. Stern
	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.

PURCHASER:

	 	 	 	 	 
	 

	 	/s/ Alfred J. Mandel
 

Alfred J. Mandel
	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.

PURCHASER:

	 	 	 	 	 
	 

	 	/s/ Pauline E. van Ysendoorn
 

Pauline E. van Ysendoorn
	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.

PURCHASER:

	 	 	 	 	 
	 

	 	/s/ Rhett E. Brown
 

	 	 
	 

	 	Rhett E. Brown	 	 

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.

PURCHASER:

	 	 	 	 	 
	 	 	SMALLCAP World Fund, Inc.
	 
	 	 	 	 
	 

	 	By:
	 	Capital Research and Management Company,
its investment adviser
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Timothy D. Amour
	 

	 	 	 	 
	 

	 	Name:
	 	Timothy D. Armour
	 

	 	Title:
	 	President

[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

EXHIBIT A

SCHEDULE OF PURCHASERS

SERIES E PREFERED STOCK FINANCING

DECEMBER 22, 2006

	 	 	 	 	 	 	 	 	 
	 	 	Shares of Series E	 	 
	Name	 	Preferred Stock	 	Purchase Price
	CLIPPERBAY & CO.

SMALLCAP World Fund, Inc.
	 	 	1,875,000	 	 	$	7,500,000.00	 
	PACO c/o 80-16-200-1037662

Cross Creek Capital, L.P.
	 	 	569,074	 	 	$	2,276,296.00	 
	PACO c/o 80-16-200-1037670
	 	 	55,926	 	 	$	223,704.00	 
	CLEARMOON & CO.
	 	 	625,000	 	 	$	2,500,000.00	 
	ALLIANCEBERNSTEIN VENTURE FUND I, L.P.
	 	 	62,500	 	 	$	250,000.00	 
	ALLOY VENTURES 2005, L.P.
	 	 	80,625	 	 	$	322,500.00	 
	ALLOY VENTURES 2002, L.P.
	 	 	78,505	 	 	$	314,020.00	 
	ALLOY PARTNERS 2002, L.P.
	 	 	2,120	 	 	$	8,480.00	 
	INTERWEST INVESTORS VII, L.P.
	 	 	2,285	 	 	$	9,140.00	 
	INTERWEST PARTNERS VII, L.P.
	 	 	47,715	 	 	$	190,860.00	 
	EUCLIDSR BIOTECHNOLOGY PARTNERS, L.P.
	 	 	105,875	 	 	$	423,500.00	 
	EUCLIDSR PARTNERS, L.P.
	 	 	105,875	 	 	$	423,500.00	 
	VERSANT AFFLIATES FUND 1-A, L.P.
	 	 	5,000	 	 	$	20,000.00	 
	VERSANT AFFLIATES FUND 1-B, L.P.
	 	 	10,500	 	 	$	42,000.00	 

 

 

EXHIBIT A

SCHEDULE OF PURCHASERS

SERIES E PREFERED STOCK FINANCING

DECEMBER 22, 2006

	 	 	 	 	 	 	 	 	 
	 	 	Shares of Series E	 	 
	Name	 	Preferred Stock	 	Purchase Price
	VERSANT SIDE FUND I, L.P.
	 	 	4,500	 	 	$	18,000.00	 
	VERSANT VENTURE CAPITAL I, L.P.
	 	 	230,000	 	 	$	920,000.00	 
	LILLY BIO VENTURES, ELI LILLY AND COMPANY
	 	 	89,750	 	 	$	359,000.00	 
	SIGHTLINE HEALTHCARE FUND III, L.P.
	 	 	30,000	 	 	$	120,000.00	 
	BRUCE BURROWS
	 	 	144,750	 	 	$	579,000.00	 
	LEHMAN BROTHERS HEALTHCARE VENTURE CAPITAL, L.P.
	 	 	39,937	 	 	$	159,748.00	 
	LEHMAN BROTHERS OFFSHORE PARTNERSHIP ACCOUNT 2000/2001, L.P.
	 	 	8,932	 	 	$	35,728.00	 
	LEHMAN BROTHERS P.A., LLC
	 	 	76,440	 	 	$	305,760.00	 
	LEHMAN BROTHERS PARTNERSHIP ACCOUNT 2000/2001, L.P.
	 	 	34,440	 	 	$	137,760.00	 
	TOTALS
	 	 	4,284,749	 	 	$	17,138,996.00	 

 

 

EXHIBIT A

SCHEDULE OF PURCHASERS

SERIES E PREFERED STOCK FINANCING

MARCH 30, 2007

	 	 	 	 	 	 	 	 	 
	 	 	Shares of Series E	 	 
	Name	 	Preferred Stock	 	Purchase Price
	JOHN M. HARLAND
	 	 	5,000	 	 	$	20,000.00	 
	FERGUSON/EGAN FAMILY TRUST DATED 6/28/99
	 	 	15,000	 	 	$	60,000.00	 
	HEALTH CARE ADMINISTRATION COMPANY
	 	 	25,000	 	 	$	100,000.00	 
	THE CONDON FAMILY TRUST
	 	 	12,500	 	 	$	50,000.00	 
	IN-Q-TEL, INC.
	 	 	10,125	 	 	$	40,500.00	 
	IN-Q-TEL EMPLOYEE FUND, LLC
	 	 	3,375	 	 	$	13,500.00	 
	THE V FOUNDATION FOR CANCER RESEARCH
	 	 	6,250	 	 	$	25,000.00	 
	FREDRICK H. STERN
	 	 	37,500	 	 	$	150,000.00	 
	ALFRED J. MANDEL
	 	 	1,000	 	 	$	4,000.00	 
	PAULINE E. van YSENDOORN 
	 	 	2,500	 	 	$	10,000.00	 
	RHETT E. BROWN
	 	 	12,500	 	 	$	50,000.00	 
	CLIPPERBAY & CO.
	 	 	350,000	 	 	$	1,400,000.00	 
	TOTALS
	 	 	480,750	 	 	$	1,923,000.00	 

 

 

FLUIDIGM CORPORATION

AMENDMENT NO. 2 TO

SERIES E PREFERRED STOCK PURCHASE AGREEMENT

     This Amendment No. 2 (the “Amendment”) to that certain Series E Preferred Stock Purchase
Agreement, dated as of June 13, 2006, as amended December 22, 2006, by and among Fluidigm
Corporation, a California corporation (“Fluidigm California”) and the Purchasers named therein (the
“Purchase Agreement”), is made and entered into effective as of October 10, 2007 (the “Effective
Date”) by and among Fluidigm Corporation, a Delaware corporation (the “Company”), and the
Purchasers named herein. Capitalized terms used in this Amendment that are not otherwise defined
herein shall have the respective meanings assigned to them in the Purchase Agreement.

RECITALS

     WHEREAS, Fluidigm California previously sold and issued an aggregate of 1,250,000 shares of
Series E Preferred Stock (the “Series E Preferred”) pursuant to the terms of the Purchase Agreement
at the Initial Closing held on June 13, 2006 and an additional 6,015,499 shares of Series E
Preferred at Subsequent Closings held on December 22, 2006 and March 30, 2007;

     WHEREAS, on July 18, 2007, Fluidigm California was merged with and into the Company, with the
Company being the surviving corporation such that the Company succeeded to all of Fluidigm
California’s rights and obligations under the Purchase Agreement and all outstanding shares of
Series E Preferred of Fluidigm California were exchanged on a one for one basis for shares of
Series E Preferred of the Company;

     WHEREAS, the Company and the Purchasers now desire to amend the terms of the Purchase
Agreement to provide that the Company may sell and issue up to 7,375,000 additional shares of
Series E Preferred (the “Additional Shares”) pursuant to the Purchase Agreement, at one or more
additional Subsequent Closings, provided that any such additional Subsequent Closings shall take
place no later than December 31, 2007.

     WHEREAS, pursuant to Section 6.5 of the Purchase Agreement, the terms of the Purchase
Agreement may be amended upon the written consent of the Company and the holder or holders of
greater than fifty percent (50%) of the outstanding Shares or the Conversion Shares;

     WHEREAS, the Purchasers who have signed below hold greater than fifty percent (50%) of the
outstanding Shares purchased under the Purchase Agreement as of the Effective Date and consent to
the changes as set forth in this Amendment;

     WHEREAS, in connection with the execution of this Amendment, the Company is amending the
Amended and Restated Certificate of Incorporation of the Company to increase the

 

 

number of
authorized shares of capital stock of the Company to facilitate the sale of the Additional Shares.

     NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
mutually agree as follows:

AGREEMENT

     1. Amendment to Section 1.1. Section 1.1 (Authorization of the Shares) of the
Purchase Agreement is hereby amended and restated in its entirety as follows:

     “1.1 Authorization of the Shares. The Company will on or
before the Closing (as defined below) authorize the sale and issuance
pursuant to this Agreement of up to 17,956,252 shares (the “Shares”) of its
Series E Preferred Stock (the “Series E Preferred”), having the rights,
preferences and privileges as set forth in the Amended and Restated
Certificate of Incorporation, as amended by Amendment No. 1 to Amended and
Restated Certificate of Incorporation and Amendment No. 2 to Amended and
Restated Certificate of Incorporation, as attached hereto as EXHIBITS
B-1 AND B-2, respectively (together for purposes of this
Agreement, the “Restated Certificate”).”

     2. Amendment to Section 1.2. Section 1.2 (Purchase and Sale of the Shares) of the
Purchase Agreement is hereby amended and restated in its entirety as follows:

     “1.2 Purchase and Sale of the Shares. Subject to the terms and
conditions hereof and in reliance upon the representations, warranties and
agreements contained herein, the Company will issue and sell to each
Purchaser, severally and not jointly, and each Purchaser will purchase from
the Company, severally and not jointly, at the applicable Closing, the
number of Shares set forth opposite the Purchaser’s name on the Schedule of
Purchasers, at a purchase price of Four Dollars ($4.00) per Share. The
Company shall be entitled to sell any unpurchased Shares to any Purchaser or
to a person who is not a Purchaser and to amend the Schedule of Purchasers
to include the information relating to such sales, and such purchasers shall
be considered “Purchasers” and parties to this Agreement; provided that (i)
such sales are made pursuant to this Agreement or an agreement identical to
this one except for the Closing Date and exhibits, and (ii) such sales are
completed on or prior to December 31, 2007. The Company’s agreement with
each Purchaser is a separate agreement, and the sale of the Shares to each
Purchaser is a separate sale.”

-2-

 

     3. Amendment to Section 2. Section 2 (Representations and Warranties of the Company)
of the Purchase Agreement is hereby amended to add the following sentence to the end of the
paragraph which reads in its entirety as follows:

     “At each Subsequent Closing, the Company shall provide an updated
Schedule of Exceptions and EXHIBIT C shall be concurrently amended
and restated for purposes of such Subsequent Closing.”

     4. Amendment to Section 2.4. Solely in connection with the sale of Additional Shares
pursuant to this Amendment, Section 2.4 (Capitalization) of the Purchase Agreement is hereby
amended and restated in its entirety as follows:

     “The authorized capital stock of the Company consists, or immediately
prior to the Closing will consist, of 85,232,144 shares of Common Stock
(“Common Stock”), of which 9,760,848 shares are issued and outstanding
immediately prior to the Closing and 57,961,085 shares of Preferred Stock
(“Preferred Stock”), 2,727,273 of which are designated Series A Preferred
Stock of which 2,727,273 are outstanding immediately prior to the Closing;
6,460,675 of which are designated Series B Preferred Stock of which
6,460,675 are outstanding immediately prior to the Closing; 16,854,624 of
which are designated Series C Preferred Stock, 16,364,832 of which are
issued and outstanding immediately prior to the Closing; and 13,962,261 of
which are designated Series D Preferred Stock, 13,353,333 of which are
issued and outstanding immediately prior to the Closing; and 17,956,252 of
which are designated Series E Preferred Stock, 8,969,836 of which are issued
and outstanding immediately prior to the Closing. All such issued and
outstanding shares have been duly authorized and validly issued in
compliance with applicable laws, and are fully paid and nonassessable.

     The Company has reserved: (i) 17,956,252 shares of Series E Preferred
for issuance hereunder and 17,956,252 shares of Common Stock for issuance
upon conversion of such shares of Series E Preferred; (ii) 13,353,333
shares of Common Stock for issuance upon conversion of the outstanding
shares of Series D Preferred; (iii) 408,928 shares of Series D Preferred for
issuance upon exercise of outstanding warrants and 408,928 shares of Common
Stock for issuance upon conversion of such Series D Preferred; (iv)
16,364,832 shares of Common Stock for issuance upon conversion of the
outstanding shares of Series C Preferred Stock; (v) 289,792shares of Series
C Preferred Stock for issuance upon exercise of outstanding warrants and
289,792 shares of Common Stock for issuance upon conversion of such Series C
Preferred Stock; (vi) 6,460,675 shares of Common Stock for issuance upon
conversion of the outstanding Series B Preferred Stock; (vii) 2,727,273
shares of Common Stock for issuance upon conversion of the outstanding
Series A Preferred Stock; and (viii) an aggregate of 12,800,000 shares of
Common Stock for issuance to

-3-

 

employees and consultants of the Company
pursuant to the Company’s 1999 Stock Option Plan, pursuant to which options
to purchase 7,247,691 shares are granted and outstanding and 1,518,223
shares are available for future grant. As of the date hereof and after
giving effect to the purchase of Shares hereunder, each share of each series
of the Company’s Preferred Stock is convertible into one share of the
Company’s Common Stock. Other than with respect to the shares reserved for
issuance in this paragraph, or as set forth in the Ancillary Agreements (as
defined below), there are no outstanding rights, options, warrants,
conversion rights, preemptive rights, rights of first refusal or similar
rights for the purchase or acquisition from the Company of any securities of
the Company. There are no outstanding obligations of the Company to
repurchase or redeem any of its securities.”

     5. Amendment to Section 2.16. Solely in connection with the sale of Additional Shares
pursuant to this Amendment, Section 2.16 (Financial Statements) of the Purchase Agreement is hereby
amended and restated in its entirety as follows:

     “The Company has made available to each Purchaser its audited balance
sheet dated as of December 31, 2004. The Company has also made available to
each Purchaser unaudited balance sheets dated December 31, 2005 and December
31, 2006 and the unaudited statements of operations for the fiscal years
then ended (collectively, the “Financial Statements”). The Financial
Statements are complete and correct in all material respects and have been
prepared in accordance with generally accepted accounting principles applied
on a consistent basis throughout the periods indicated. The Financial
Statements accurately set out and describe the financial condition and
operating results of the Company as of the date, and during the periods,
indicated therein. Except as set forth in the Financial Statements, the
Company has no material liabilities, contingent or otherwise, other than (i)
liabilities incurred in the ordinary course of business subsequent to
December 31, 2006 and (ii) obligations under contracts and commitments
incurred in the ordinary course of business and not required under generally
accepted accounting principles to be reflected in the Financial Statements,
which, in both cases, individually or in the aggregate are not material to
the financial condition or operating results of the Company.”

     6. Deletion of Sections 6.9 and 6.11. Solely in connection with the sale of
Additional Shares pursuant to this Amendment, the Purchase Agreement is hereby amended to delete
Section 6.9 (Finder’s Fee) and Section 6.11 (Waiver of Conflict), each in its entirety.

-4-

 

     7. Amendment to Section 6.10. Solely in connection with the sale of Additional Shares
pursuant to this Amendment, Section 6.10 of the Purchase Agreement is hereby amended and restated
in its entirety to read as follows:

     “6.10 Expenses. The Company and each Purchaser shall bear its
own expenses and legal fees incurred on its behalf with respect to this
Agreement and the transactions contemplated hereby, provided, however, that
if a Closing is effected, the Company shall reimburse the reasonable
documented fees of one counsel for the Purchasers, such amount not to exceed
$25,000, by wire transfer at such Closing.”

     8. Addition of Section 6.17. The Purchase Agreement is hereby amended to add the
following Section 6.17 which reads in its entirety as follows:

     “6.17 Reincorporation. Each Purchaser hereunder acknowledges
that the Company completed a reincorporation into the State of Delaware on
July 18, 2007 and each Purchaser hereby consents to the assignment of this
Agreement to Fluidigm Corporation, a Delaware corporation effective as of
July 18, 2007.”

     9. Restated Certificate. All references in the Purchase Agreement to the term
“Restated Articles” are hereby deleted and replaced with the term “Restated Certificate.”

     10. Governing Law. This Amendment shall be governed in all respects by the laws of
the State of California, without regard to any provisions thereof relating to conflicts of laws
among different jurisdictions.

     11. Purchase Agreement. Wherever necessary, all other terms of the Purchase Agreement
are hereby amended to be consistent with the terms of this Amendment. Except as specifically set
forth herein, the Purchase Agreement shall remain in full force and effect.

     12. Counterparts; Facsimile. This Amendment may be executed in any number of
counterparts, each of which shall be an original, and all of which together shall constitute one
instrument. Executed signatures transmitted via facsimile will be accepted and considered duly
executed.

     13. Effect of Execution of Amendment by Certain Purchasers. This Amendment, when
executed and delivered by the Company and a Purchaser purchasing shares of Series E Preferred at a
Subsequent Closing held on or after the date hereof, shall also constitute and shall be deemed a
counterpart signature page to the Purchase Agreement. Consequently, each undersigned Purchaser
purchasing shares of Series E Preferred at a Subsequent Closing held on or after the date hereof
acknowledges and agrees that he, she or it is bound by the terms and conditions contained in the
Purchase Agreement, as amended by this Amendment, with respect to the purchase of such shares.

[Remainder of page intentionally left blank]

-5-

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2
to Series E Preferred Stock Purchase Agreement as of the Effective Date.

COMPANY:

	 	 	 	 	 
	 	FLUIDIGM CORPORATION

a Delaware corporation

 	 
	 	By:  	/s/ Gajus Worthington
 	 
	 	 	Gajus Worthington, 	 
	 	 	President and Chief Executive Officer 	 
	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Fidelity Contrafund: 	 	 
	 	 	Fidelity Advisor New Insights Fund	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Gary Ryan
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Gary Ryan	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Assistant Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	Fidelity Contrafund: Fidelity Contrafund	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Gary Ryan	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Gary Ryan	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Assistant Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	Variable Insurance Products Fund II:	 	 
	 	 	Contrafund Portfolio	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Gary Ryan	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Gary Ryan	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Assistant Treasurer	 	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Leerink Swann Holdings, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Jeffrey A. Leerink
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Jeffrey A. Leerink	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Leerink Swann Holdings, LLC 	 	 
	 	 	Co-Investment Fund, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Donald D. Notman, Jr.	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Donald D. Notman, Jr.	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Director	 	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

	 	 	 	 	 	 	 
	PURCHASERS:	 	Cross Creek Capital, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Cross Creek Capital GP, L.P.	 	 
	 

	 	 	 	Its Sole General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Cross Creek Capital, LLC	 	 
	 

	 	 	 	Its Sole General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Wasatch Advisors, Inc.	 	 
	 

	 	 	 	Its Sole Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Karey Barker
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Karey Barker	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 

	 	 	 	 	 	 	 
	 	 	Cross Creek Capital Employees’ Fund, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Cross Creek Capital GP, L.P.	 	 
	 

	 	 	 	Its Sole General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Cross Creek Capital, LLC	 	 
	 

	 	 	 	Its Sole General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Wasatch Advisors, Inc.	 	 
	 

	 	 	 	Its Sole Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Karey Barker
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Karey Barker	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	 Wasatch Funds, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Wasatch Advisors, Inc.	 	 
	 

	 	 	 	Its Sole Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Dan Thurber
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Dan Thurber	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	SMALLCAP World Fund, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Capital Research and Management Company,	 	 
	 

	 	 	 	its, investment adviser	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Downer
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Michael Downer	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	AllianceBernstein Venture Fund I, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	AllianceBernstein ESG Venture 

Management, L.P., its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	AllianceBernstein Global
Derivatives 

Corporation, its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ James D. Kiggen
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	James D. Kiggen	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Versant Affiliates Fund 1-A, L.P.	 	 
	 	 	Versant Affiliates Fund1-B, L.P.	 	 
	 	 	Versant Side Fund I, L.P.	 	 
	 	 	Versant Venture Capital I, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Versant Ventures I, LLC	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Samuel D. Colella
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Samuel D. Colella	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Director	 	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Lehman
Brothers Healthcare Venture Capital 
L.P.	 	
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Lehman Brothers HealthCare Venture Capital	 	 
	 

	 	 	 	Associates L.P.,	 	 
	 

	 	 	 	its General Partner	 	 
	 

	 	By:
	 	LB I Group Inc., its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Steven Berkenfeld
 

Steven Berkenfeld
	 	 
	 

	 	Its:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	Lehman Brothers P.A. LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Steven Berkenfeld	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Steven Berkenfeld	 	 
	 

	 	Its:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	Lehman Brothers Partnership Account 2000/2001,

L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	LB I Group Inc., its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Steven Berkenfeld	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Steven Berkenfeld	 	 
	 

	 	Its:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	Lehman
Brothers Offshore Partnership Account
2000/2001, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	LB I Offshore Partners Group Ltd., its General	 	 
	 

	 	 	 	Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Steven Berkenfeld	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Steven Berkenfeld	 	 
	 

	 	Its:
	 	Senior Vice President	 	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	EuclidSR Partners, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	EuclidSR Associates, L.P.	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Elaine V. Jones
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Elaine V. Jones	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	 General Partner	 	 
	 
	 	 	 	 	 	 
	 	 	EuclidSR Biotechnology Partners, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	EuclidSR Biotechnology Associates, L.P.	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Elaine V. Jones	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Elaine V. Jones	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	 General Partner	 	 
	 
	 	 	 	 	 	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Interwest Partners VII, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	InterWest Management Partners VII,
LLC	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Sweeney
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Michael Sweeney	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	As agent for the general partner	 	 
	 
	 	 	 	 	 	 
	 	 	Interwest Investors VII, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	InterWest Management Partners VII,
LLC	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Sweeney	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Michael Sweeney	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	As agent for the general partner	 	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Lilly Bioventures, Eli Lilly & Company	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Darren J. Carroll
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Darren J. Carroll	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Executive Director	 	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 

	 	 	 	/s/ Bruce Burrows
 

Bruce Burrows
	 	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Biomedical Sciences Investment Fund Pte Ltd	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Chu Swee Yeok
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Chu Swee Yeok	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 	 	Singapore Bio-Innovations Pte Ltd	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Sim Sze Kuan	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Sim Sze Kuan	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Director	 	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Invus, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Invus Advisors LLC	 	 
	 

	 	 	 	General Partner of Invus LP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Aflalo Guimaraes
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Aflalo Guimaraes	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Director	 	 

[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

EXHIBIT A

SCHEDULE OF PURCHASERS

SERIES E PREFERED STOCK FINANCING

OCTOBER 10, 2007

	 	 	 	 	 	 	 	 	 
	 	 	Shares of Series E	 	 	 	 
	Name	 	Preferred Stock	 	 	Purchase Price	 
	FIDELITY CONTRAFUND:
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	FIDELITY ADVISOR NEW INSIGHTS FUND
	 	 	481,170	 	 	$	1,924,679.00	 
	 
	 	 	 	 	 	 	 	 
	FIDELITY CONTRAFUND: FIDELITY CONTRAFUND
	 	 	4,389,865	 	 	$	17,559,461.00	 
	 
	 	 	 	 	 	 	 	 
	VARIABLE INSURANCE PRODUCTS FUND II:
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	CONTRAFUND PORTFOLIO
	 	 	1,378,965	 	 	$	5,515,860.00	 
	 
	 	 	 	 	 	 	 	 
	LEERICK SWANN HOLDINGS, LLC
	 	 	62,500	 	 	$	250,000.00	 
	 
	 	 	 	 	 	 	 	 
	LEERICK SWANN CO-INVESTMENT FUND, LLC
	 	 	78,750	 	 	$	315,000.00	 
	 
	 	 	 	 	 	 	 	 
	TOTALS
	 	 	6,391,250	 	 	$	25,565,000.00	 

 

 

FLUIDIGM CORPORATION

AMENDMENT NO. 3 TO

SERIES E PREFERRED STOCK PURCHASE AGREEMENT

     This Amendment No. 3 (the “Amendment”) to that certain Series E Preferred Stock Purchase
Agreement, dated as of June 13, 2006, as amended December 22, 2006 and further amended October 10,
2007, by and among Fluidigm Corporation, a California corporation (“Fluidigm California”) and the
Purchasers named therein (the “Purchase Agreement”), is made and entered into effective as of
October 26, 2007 (the “Effective Date”) by and among Fluidigm Corporation, a Delaware corporation
(the “Company”), and the Purchasers named herein. Capitalized terms used in this Amendment that
are not otherwise defined herein shall have the respective meanings assigned to them in the
Purchase Agreement.

RECITALS

     WHEREAS, Fluidigm California previously sold and issued an aggregate of 1,250,000 shares of
Series E Preferred Stock (the “Series E Preferred”) pursuant to the terms of the Purchase Agreement
at the Initial Closing held on June 13, 2006, an additional 4,284,749 shares of Series E Preferred
at a Subsequent Closing held on December 22, 2006, an additional 480,750 shares of Series E
Preferred at a Subsequent Closing held on March 30, 2007, and an additional 6,391,250 shares of
Series E Preferred at a Subsequent Closing held on October 10, 2007;

     WHEREAS, on July 18, 2007, Fluidigm California was merged with and into the Company, with the
Company being the surviving corporation such that the Company succeeded to all of Fluidigm
California’s rights and obligations under the Purchase Agreement and all outstanding shares of
Series E Preferred of Fluidigm California were exchanged on a one for one basis for shares of
Series E Preferred of the Company;

     WHEREAS, the Company and the Purchasers now desire to amend the terms of the Purchase
Agreement to provide that the Company may sell and issue up to 2,153,695 additional shares of
Series E Preferred (the “Additional Shares”) pursuant to the Purchase Agreement, at one or more
additional Subsequent Closings, provided that any such additional Subsequent Closings shall take
place no later than December 31, 2007.

     WHEREAS, pursuant to Section 6.5 of the Purchase Agreement, the terms of the Purchase
Agreement may be amended upon the written consent of the Company and the holder or holders of
greater than fifty percent (50%) of the outstanding Shares or the Conversion Shares;

     WHEREAS, the Purchasers who have signed below hold greater than fifty percent (50%) of the
outstanding Shares purchased under the Purchase Agreement as of the Effective Date and consent to
the changes as set forth in this Amendment;

 

 

     WHEREAS, in connection with the execution of this Amendment, the Company is amending the
Amended and Restated Certificate of Incorporation of the Company to increase the number of
authorized shares of capital stock of the Company to facilitate the sale of the Additional Shares.

     NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
mutually agree as follows:

AGREEMENT

     1. Amendment to Section 1.1. Section 1.1 (Authorization of the Shares) of the
Purchase Agreement is hereby amended and restated in its entirety as follows:

     “1.1 Authorization of the Shares. The Company will on or
before the Closing (as defined below) authorize the sale and issuance
pursuant to this Agreement of up to 18,498,531 shares (the “Shares”) of its
Series E Preferred Stock (the “Series E Preferred”), having the rights,
preferences and privileges as set forth in the Amended and Restated
Certificate of Incorporation, as amended by a Certificate of Amendment to
Amended and Restated Certificate of Incorporation dated October 10, 2007 and
a Certificate of Amendment to Amended and Restated Certificate of
Incorporation dated October 26, 2007, as attached hereto as EXHIBITS
B-1 AND B-2, respectively (together for purposes of this
Agreement, the “Restated Certificate”).”

     2. Amendment to Section 2.4. Solely in connection with the sale of Additional Shares
pursuant to this Amendment, Section 2.4 (Capitalization) of the Purchase Agreement is hereby
amended and restated in its entirety as follows:

     “The authorized capital stock of the Company consists, or immediately
prior to the Closing will consist, of 87,385,839 shares of Common Stock
(“Common Stock”), of which 9,760,848 shares are issued and outstanding
immediately prior to the Closing and 60,114,780 shares of Preferred Stock
(“Preferred Stock”), 2,727,273 of which are designated Series A Preferred
Stock of which 2,727,273 are outstanding immediately prior to the Closing;
6,460,675 of which are designated Series B Preferred Stock of which
6,460,675 are outstanding immediately prior to the Closing; 16,854,624 of
which are designated Series C Preferred Stock, 16,364,832 of which are
issued and outstanding immediately prior to the Closing; and 13,962,261 of
which are designated Series D Preferred Stock, 13,353,333 of which are
issued and outstanding immediately prior to the Closing; and 20,109,947 of
which are designated Series E Preferred Stock, 15,361,086 of which are
issued and outstanding immediately prior to the Closing. All such issued
and outstanding shares have been duly

- 2 -

 

authorized and validly issued in compliance with applicable laws, and
are fully paid and nonassessable.

     The Company has reserved: (i) 18,498,531 shares of Series E Preferred
for issuance hereunder and 20,109,947 shares of Common Stock for issuance
upon conversion of all shares of Series E Preferred; (ii)  13,353,333 shares
of Common Stock for issuance upon conversion of the outstanding shares of
Series D Preferred; (iii) 408,928 shares of Series D Preferred for issuance
upon exercise of outstanding warrants and 408,928 shares of Common Stock for
issuance upon conversion of such Series D Preferred; (iv) 16,364,832 shares
of Common Stock for issuance upon conversion of the outstanding shares of
Series C Preferred Stock; (v) 289,792 shares of Series C Preferred Stock for
issuance upon exercise of outstanding warrants and 289,792 shares of Common
Stock for issuance upon conversion of such Series C Preferred Stock;
(vi) 6,460,675 shares of Common Stock for issuance upon conversion of the
outstanding Series B Preferred Stock; (vii) 2,727,273 shares of Common Stock
for issuance upon conversion of the outstanding Series A Preferred Stock;
and (viii) an aggregate of 12,800,000 shares of Common Stock for issuance to
employees and consultants of the Company pursuant to the Company’s 1999
Stock Option Plan, pursuant to which options to purchase 7,247,691 shares
are granted and outstanding and 1,518,223 shares are available for future
grant. As of the date hereof and after giving effect to the purchase of
Shares hereunder, each share of each series of the Company’s Preferred Stock
is convertible into one share of the Company’s Common Stock. Other than
with respect to the shares reserved for issuance in this paragraph, or as
set forth in the Ancillary Agreements (as defined below), there are no
outstanding rights, options, warrants, conversion rights, preemptive rights,
rights of first refusal or similar rights for the purchase or acquisition
from the Company of any securities of the Company. There are no outstanding
obligations of the Company to repurchase or redeem any of its securities.”

     3. Amendment to Section 2.16. Solely in connection with the sale of Additional Shares
pursuant to this Amendment, Section 2.16 (Financial Statements) of the Purchase Agreement is hereby
amended and restated in its entirety as follows:

     “The Company has made available to each Purchaser its audited balance
sheet dated as of December 31, 2004. The Company has also made available to
each Purchaser unaudited balance sheets dated December 31, 2005 and December
31, 2006 and the unaudited statements of operations for the fiscal years
then ended (collectively, the “Financial Statements”). The Financial
Statements are complete and correct in all material respects and have been
prepared in accordance with generally

- 3 -

 

accepted accounting principles applied on a consistent basis throughout
the periods indicated. The Financial Statements accurately set out and
describe the financial condition and operating results of the Company as of
the date, and during the periods, indicated therein. Except as set forth in
the Financial Statements, the Company has no material liabilities,
contingent or otherwise, other than (i) liabilities incurred in the ordinary
course of business subsequent to December 31, 2006 and (ii) obligations
under contracts and commitments incurred in the ordinary course of business
and not required under generally accepted accounting principles to be
reflected in the Financial Statements, which, in both cases, individually or
in the aggregate are not material to the financial condition or operating
results of the Company.”

     4. Governing Law. This Amendment shall be governed in all respects by the laws of the
State of California, without regard to any provisions thereof relating to conflicts of laws among
different jurisdictions.

     5. Purchase Agreement. Wherever necessary, all other terms of the Purchase Agreement
are hereby amended to be consistent with the terms of this Amendment. Except as specifically set
forth herein, the Purchase Agreement shall remain in full force and effect.

     6. Counterparts; Facsimile. This Amendment may be executed in any number of
counterparts, each of which shall be an original, and all of which together shall constitute one
instrument. Executed signatures transmitted via facsimile will be accepted and considered duly
executed.

     7. Effect of Execution of Amendment by Certain Purchasers. This Amendment, when
executed and delivered by the Company and a Purchaser purchasing shares of Series E Preferred at a
Subsequent Closing held on or after the date hereof, shall also constitute and shall be deemed a
counterpart signature page to the Purchase Agreement. Consequently, each undersigned Purchaser
purchasing shares of Series E Preferred at a Subsequent Closing held on or after the date hereof
acknowledges and agrees that he, she or it is bound by the terms and conditions contained in the
Purchase Agreement, as amended by this Amendment, with respect to the purchase of such shares.

[Remainder of page intentionally left blank]

- 4 -

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3
to Series E Preferred Stock Purchase Agreement as of the Effective Date.

	 	 	 	 	 	 	 
	COMPANY:	 	FLUIDIGM CORPORATION
	 	 	a Delaware corporation
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Gajus Worthington	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Gajus Worthington,	 	 
	 

	 	 	 	President and Chief Executive Officer	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Fidelity Contrafund: 
	 	 	Fidelity Advisor New Insights Fund
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Peter Lydecker
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Peter Lydecker	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Assistant Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	Fidelity Contrafund: Fidelity Contrafund
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Peter Lydecker	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Peter Lydecker	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Assistant Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	Variable Insurance Products Fund II:
	 	 	Contrafund Portfolio
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Peter Lydecker	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Peter Lydecker	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Assistant Treasurer	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Leerink Swann Holdings, LLC
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Jeffrey Leerink	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Jeffrey Leerink	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Chairman	 	 
	 
	 	 	 	 	 	 
	 	 	Leerink Swann Holdings, LLC 
	 	 	Co-Investment Fund, LLC
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Donald D. Notman, Jr.	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Donald D. Notman, Jr.	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Director	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

	 	 	 	 	 	 	 
	PURCHASERS:	 	Cross Creek Capital, L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Cross Creek Capital GP, L.P.	 	 
	 

	 	 	 	Its Sole General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Cross Creek Capital, LLC	 	 
	 

	 	 	 	Its Sole General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Wasatch Advisors, Inc.	 	 
	 

	 	 	 	Its Sole Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Karey Barker	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Karey Barker	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	Cross Creek Capital Employees’ Fund, L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Cross Creek Capital GP, L.P.	 	 
	 

	 	 	 	Its Sole General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Cross Creek Capital, LLC

Its Sole General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Wasatch Advisors, Inc.	 	 
	 

	 	 	 	Its Sole Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Karey Barker	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Karey Barker	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Wasatch Funds, Inc.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Wasatch Advisors, Inc.	 	 
	 

	 	 	 	Its Sole Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Venice Edwards
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Venice Edwards	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Secretary	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	SMALLCAP World Fund, Inc.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Capital Research and Management Company,	 	 
	 

	 	 	 	its, investment adviser	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Paul Haaga
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Paul Haaga	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	AllianceBernstein Venture Fund I, L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	AllianceBernstein ESG Venture	 	 
	 

	 	 	 	Management, L.P., its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	AllianceBernstein Global Derivatives	 	 
	 

	 	 	 	Corporation, its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ James D. Kiggen
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	James D. Kiggen	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Versant Affiliates Fund 1-A, L.P.
	 	 	Versant Affiliates Fund1-B, L.P.
	 	 	Versant Side Fund I, L.P.
	 	 	Versant Venture Capital I, L.P.
	 

	 	By:
	 	Versant Ventures I, LLC	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Samuel D. Colella
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Samuel D. Colella	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Director	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Lehman Brothers Healthcare Venture Capital
	 	 	L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Lehman Brothers HealthCare Venture Capital	 	 
	 

	 	 	 	Associates L.P.,	 	 
	 

	 	 	 	its General Partner	 	 
	 

	 	By:
	 	LB I Group Inc., its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Ashvin Rao
 

Ashvin Rao
	 	 
	 

	 	Its:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	Lehman Brothers P.A. LLC
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Deborah Nordell	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Deborah Nordell	 	 
	 

	 	Its:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	Lehman Brothers Partnership Account 2000/2001,
	 	 	L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	LB I Group Inc., its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Ashvin Rao	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Ashvin Rao	 	 
	 

	 	Its:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	Lehman Brothers Offshore Partnership Account
	 	 	2000/2001, L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	LB I Offshore Partners Group Ltd., its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Ashvin Rao	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Ashvin Rao	 	 
	 

	 	Its:
	 	Vice President	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	EuclidSR Partners, L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	EuclidSR Associates, L.P.	 	 
	 

	 	its
	 	General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Elaine V. Jones
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Elaine V. Jones	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	General Partner	 	 
	 
	 	 	 	 	 	 
	 	 	EuclidSR Biotechnology Partners, L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	EuclidSR Biotechnology Associates, L.P.	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Elaine V. Jones	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Elaine V. Jones	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	General Partner	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Interwest Partners VII, L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	InterWest Management Partners VII, LLC	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Sweeney
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Michael Sweeney	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	As agent for the general partner	 	 
	 
	 	 	 	 	 	 
	 	 	Interwest Investors VII, L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	InterWest Management Partners VII, LLC	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Sweeney	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Michael Sweeney	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	As agent for the general partner	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Lilly Bioventures, Eli Lilly & Company
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Darren J. Carroll
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Darren J. Carroll	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Executive Director	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Alloy Ventures 2005, L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Alloy Ventures 2005, LLC	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Tony DiBona	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Toni DiBona	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Member of Alloy Ventures	 	 
	 

	 	 	 	2005 LLC	 	 
	 
	 	 	 	 	 	 
	 	 	Alloy Ventures 2002, L.P.
	 	 	Alloy Partners 2002, L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Alloy Ventures 2002, LLC	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Tony DiBona	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Tony DiBona	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Member of Alloy Ventures	 	 
	 

	 	 	 	2002, LLC, the general partner of Alloy	 	 
	 

	 	 	 	Partners 2002, L.P. and Alloy Ventures	 	 
	 

	 	 	 	2002, L.P.	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 
	 

	 	/s/ Bruce Burrows
 

Bruce Burrows
	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	SightLine Healthcare Fund III, L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Maureen Harder
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Maureen Harder	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Director	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Biomedical Sciences Investment Fund Pte Ltd
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Chu Swee Yeok
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Chu Swee Yeok	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 	 	Singapore Bio-Innovations Pte Ltd
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Sim Sze Kuan	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Sim Sze Kuan	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Director	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.

PURCHASERS:

	 	 	 	 	 	 	 
	 	 	Invus, L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Invus Advisors LLC	 	 
	 

	 	 	 	General Partner of Invus LP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Aflalo Guimaraes
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Aflalo Guimaraes	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Director	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

EXHIBIT A

SCHEDULE OF PURCHASERS

SERIES E PREFERRED STOCK FINANCING – SECOND EXTENDED CLOSING

OCTOBER 26, 2007

	 	 	 	 	 	 	 	 	 
	 	 	Shares of Series E	 	 
	Name	 	Preferred Stock	 	Purchase Price
	CLIPPERBAY & CO.
	 	 	 	 	 	 	 	 
	SMALLCAP World Fund, Inc.
	 	 	2,153,695	 	 	$	8,614,780.00	 
	 
	 	 	 	 	 	 	 	 
	TOTALS
	 	 	2,153,695	 	 	$	8,614,780.00	 

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3
to Series E Preferred Stock Purchase Agreement as of the 31st day of December, 2007.

	 	 	 	 	 	 	 
	COMPANY:	 	FLUIDIGM CORPORATION
	 	 	a Delaware corporation
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Gajus Worthington
 

Gajus Worthington,
	 	 
	 

	 	 	 	President and Chief Executive Officer	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3
to Series E Preferred Stock Purchase Agreement as of the 31st day of December, 2007.

PURCHASER:

	 	 	 	 	 
	 

	 	/s/ Bruce Burrows
 

Bruce Burrows
	 	 

[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]

 

 

EXHIBIT A

SCHEDULE OF PURCHASER

SERIES E PREFERRED STOCK FINANCING – THIRD EXTENDED CLOSING

DECEMBER 31, 2007

	 	 	 	 	 	 	 	 	 
	 	 	Shares of Series E	 	 
	Name	 	Preferred Stock	 	Purchase Price
	BRUCE BURROWS
	 	 	250,000	 	 	$	1,000,000.00	 
	 
	 	 	 	 	 	 	 	 
	TOTALS
	 	 	250,000	 	 	$	1,000,000.00	 

 

 

EXHIBIT
B

FORM
OF AMENDED AND RESTATED ARTICLES OF INCORPORATION

 

FORM OF AMENDED AND RESTATED

ARTICLES OF INCORPORATION OF

FLUIDIGM CORPORATION

     Gajus V. Worthington and William Smith each certify that:

     1. They are the President and Secretary, respectively, of Fluidigm Corporation, a California
corporation (the “Corporation”).

     2. The Amended and Restated Articles of Incorporation of the Corporation are hereby amended
and restated in full to read as set forth in EXHIBIT A attached hereto, which is
incorporated by reference as if fully set forth herein.

     3. Said Amended and Restated Articles of Incorporation have been duly approved by the
Corporation’s Board of Directors.

     4. Said Amended and Restated Articles of Incorporation have been duly approved by the required
vote of shareholders in accordance with Sections 902 and 903 of the Corporations Code. The total
number of outstanding shares of the corporation is 9,274,356 shares of Common Stock, 2,727,273
shares of Series A Preferred Stock, 6,460,675 shares of Series B Preferred Stock, 16,364,832 shares
of Series C Preferred Stock, and 11,714,048 shares of Series D Preferred Stock. The number of
shares voting in favor of the amendment equaled or exceeded the vote required. The percentage vote
required was more than 50% of the outstanding Common Stock, voting as a single class; more than 50%
of the outstanding Series A Preferred Stock, voting as a single class; at least 662/3% of the
outstanding Series B Preferred Stock, voting as a single class; at least 662/3% of the outstanding
Series C Preferred Stock, voting as a single class; at least 60% of the outstanding Series D
Preferred Stock, voting as a single class; more than 662/3% of the outstanding Preferred Stock,
voting as a single class; and more than 50% of the outstanding Common Stock and Preferred Stock,
voting together as a single class.

     I further declare under penalty of perjury that the matters set forth in the foregoing
certificate are true and correct of my own knowledge.

     Executed at Palo Alto, California, this ___ day of June 2006.

	 	 	 	 	 
	 	 	 
	 	  	 	 
	 	 	Gajus V. Worthington 	 
	 	 	President 	 
	 	 	 
	 	  	 	 
	 	 	William M. Smith 	 
	 	 	Secretary 	 
	 

 

 

Exhibit A

FORM OF AMENDED AND RESTATED

ARTICLES OF INCORPORATION OF

FLUIDIGM CORPORATION

ARTICLE I

     The name of the corporation is Fluidigm Corporation.

ARTICLE II

     The purpose of this corporation is to engage in any lawful act or activity for which a
corporation may be organized under the General Corporation Law of California other than the banking
business, the trust company business or the practice of a profession permitted to be incorporated
under the California Corporations Code.

ARTICLE III

     The total number of shares of stock that the corporation shall have authority to issue is One
Hundred Twenty-Nine Million Five Hundred Forty-Five Thousand Ninety-Two (129,545,092) consisting of
Seventy-Seven Million Eight Hundred Fifty-Seven Thousand One Hundred Forty-Four (77,857,144) shares
of Common Stock, $0.001 par value per share, and Fifty-One Million Six Hundred Eighty-Seven
Thousand Nine Hundred Forty-Eight (51,687,948) shares of Preferred Stock, $0.001 par value per
share. The first series of Preferred Stock shall be designated “Series A Preferred Stock” and
shall consist of Two Million Seven Hundred Twenty—Seven Thousand Two Hundred Seventy—Three
(2,727,273) shares. The second series of Preferred Stock shall be designated “Series B Preferred
Stock” and shall consist of Six Million Four Hundred Sixty Thousand Six Hundred Seventy-Five
(6,460,675) shares. The third series of Preferred Stock shall be designated “Series C Preferred
Stock” and shall consist of Seventeen Million (17,000,000) shares. The fourth series of Preferred
Stock shall be designated “Series D Preferred Stock” and shall consist of Fifteen Million Five
Hundred Thousand (15,500,000) shares. The fifth series of Preferred Stock shall be designated
“Series E Preferred Stock” and shall consist of Ten Million (10,000,000) shares.

ARTICLE IV

     The terms and provisions of the Common Stock and Preferred Stock are as follows:

     1. Definitions. For purposes of this Article IV, the following definitions shall
apply:

          (a) “Conversion Price” shall mean $1.10 per share for the Series A Preferred Stock,
$1.78 per share for the Series B Preferred Stock, $2.58 per share for the Series C Preferred

 

 

Stock, $2.80 per share for the Series D Preferred Stock, and $4.00 for the Series E Preferred
Stock (each subject to adjustment from time to time as set forth elsewhere herein).

          (b) “Convertible Securities” shall mean any evidences of indebtedness, shares or other
securities (other than shares of Common Stock) convertible into or exchangeable for Common Stock.

          (c) “Corporation” shall mean Fluidigm Corporation.

          (d) “Dividend Rate” shall mean an annual rate of $0.11 per share for the Series A
Preferred Stock, an annual rate of $0.18 for the Series B Preferred Stock, an annual rate of $0.26
per share for the Series C Preferred Stock, an annual rate of $0.30 per share for the Series D
Preferred Stock, and an annual rate of $0.43 per share for the Series E Preferred Stock (each
subject to adjustment from time to time as set forth elsewhere herein).

          (e) “Liquidation Preference” shall mean $1.10 per share for the Series A Preferred
Stock, $1.78 per share for the Series B Preferred Stock, $2.58 per share for the Series C Preferred
Stock, $2.80 per share for the Series D Preferred Stock, and $4.00 per share for the Series E
Preferred Stock (each subject to adjustment from time to time as set forth elsewhere herein).

          (f) “Options” shall mean rights, options or warrants to subscribe for, purchase or
otherwise acquire Common Stock or Convertible Securities.

          (g) “Original Issue Price” shall mean $1.10 per share for the Series A Preferred
Stock, $1.78 for the Series B Preferred Stock, $2.58 per share for the Series C Preferred Stock,
$2.80 per share for the Series D Preferred Stock, and $4.00 per share for the Series E Preferred
Stock (each subject to adjustment from time to time as set forth elsewhere herein).

          (h) “Preferred Stock” shall mean the Series A Preferred Stock, the Series B Preferred
Stock, the Series C Preferred Stock, the Series D Preferred Stock, and the Series E Preferred
Stock.

     2. Dividends.

          (a) Series D and Series E Preferred Stock. The holders of outstanding shares of
Series D Preferred Stock and the holders of outstanding shares of Series E Preferred Stock shall be
entitled to receive dividends, when and as declared by the Board of Directors, out of any assets at
the time legally available therefor, at the Dividend Rates specified for such shares of Preferred
Stock, payable in preference and priority to any declaration or payment of any distribution on
Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock or Common Stock
(collectively, the “Junior Stock”) of the Corporation other than a dividend payable solely in
Common Stock. No distributions shall be made with respect to the Junior Stock during any fiscal
year of the Corporation, other than dividends on the Common Stock payable solely in Common Stock,
until all dividends at the applicable Dividend Rate on the Series E Preferred Stock and Series D
Preferred Stock have been declared and paid or set apart for payment to the holders of Series E
Preferred Stock and the holders of Series D Preferred Stock. Payment of any dividends to the
holders of the Series E Preferred Stock and the Series D Preferred Stock shall be on a pro
rata, pari passu basis in proportion to the Dividend Rates for the Series E Preferred Stock
and Series D Preferred Stock, as applicable.

-2-

 

The right to receive dividends on shares of Series E Preferred Stock and Series D Preferred
Stock shall not be cumulative, and no right to such dividends shall accrue to holders of Series E
Preferred Stock and Series D Preferred Stock by reason of the fact that dividends on said shares
are not declared or paid in any year.

          (b) Series C Preferred Stock. The holders of outstanding shares of Series C Preferred
Stock shall be entitled to receive dividends, when and as declared by the Board of Directors, out
of any assets at the time legally available therefor, at the Dividend Rate specified for such
shares of Preferred Stock payable in preference and priority to any declaration or payment of any
distribution on Series A Preferred Stock, Series B Preferred Stock or Common Stock of the
Corporation other than a dividend payable solely in Common Stock. No distributions shall be made
with respect to the Series A Preferred Stock, Series B Preferred Stock or Common Stock during any
fiscal year of the Corporation, other than dividends on the Common Stock payable solely in Common
Stock, until all dividends at the applicable Dividend Rate on the Series C Preferred Stock have
been declared and paid or set apart for payment to the holders of Series C Preferred Stock. The
right to receive dividends on shares of Series C Preferred Stock shall not be cumulative, and no
right to such dividends shall accrue to holders of Series C Preferred Stock by reason of the fact
that dividends on said shares are not declared or paid in any year.

          (c) Series A Preferred Stock and Series B Preferred Stock. The holders of outstanding
shares of Series A Preferred Stock and the holders of outstanding shares of Series B Preferred
Stock shall be entitled to receive dividends, when and as declared by the Board of Directors, out
of any assets at the time legally available therefor, at the Dividend Rate specified for such
shares of Preferred Stock payable in preference and priority to any declaration or payment of any
distribution on Common Stock of the Corporation other than a dividend payable solely in Common
Stock. No distributions shall be made with respect to the Common Stock, other than dividends
payable solely in Common Stock, until all dividends at the applicable Dividend Rate on the
Preferred Stock have been declared and paid or set apart for payment to the Preferred Stock
holders. Payment of any dividends to the holders of the Series A Preferred Stock and Series B
Preferred Stock shall be on a pro rata, pari passu basis in proportion to the
Dividend Rates for the Series A Preferred Stock and Series B Preferred Stock, as applicable. The
right to receive dividends on shares of Series A Preferred Stock and Series B Preferred Stock shall
not be cumulative, and no right to such dividends shall accrue to holders of Series A Preferred
Stock or Series B Preferred Stock by reason of the fact that dividends on said shares are not
declared or paid in any year.

          (d) Distribution. For purposes of this Section 2, unless the context otherwise
requires, a “distribution” shall mean the transfer of cash or other property without consideration
whether by way of dividend or otherwise, payable other than in Common Stock, or the purchase or
redemption of shares of the Corporation other than (i) repurchase of shares of Common Stock issued
to or held by employees, consultants, officers and directors of the Corporation or its subsidiaries
upon termination of their employment or services pursuant to agreements providing for the right of
said repurchase and at the original purchase price paid by such employees, consultants, officers
and directors; and (ii) repurchase of Common Stock issued to or held by employees, officers,
directors or consultants of the Corporation or its subsidiaries pursuant to rights of first refusal
contained in agreements providing for such rights, provided that such repurchase is unanimously
approved by the Board of Directors; and (iii) any other repurchase or redemption of capital stock
of the corporation unanimously approved by the Board of Directors and approved by the holders of
the majority of the

-3-

 

Common Stock and the holders of more than two-thirds (2/3) of the outstanding shares of the
Preferred Stock, voting as separate classes.

          (e) Common Stock. Dividends may be paid on the Common Stock as and when declared by
the Board of Directors, subject to the prior dividend rights of the Preferred Stock and Section 6
below.

          (f) Non-Cash Distributions. Whenever a distribution provided for in this Section 2
shall be payable in property other than cash, the value of such distribution shall be deemed to be
the fair market value of such property as determined in good faith by the Board of Directors.

          (g) Consent to Certain Repurchases. As authorized by Section 402.5(c) of the
California Corporations Code, Sections 502 and 503 of the California Corporations Code shall not
apply with respect to payments made by the Corporation in connection with (i) repurchase of shares
of Common Stock issued to or held by employees, consultants, officers and directors of the
Corporation or its subsidiaries upon termination of their employment or services pursuant to
agreements providing for the right of said repurchase and at the original purchase price paid by
such employees, consultants, officers and directors, and (ii) repurchase of Common Stock issued to
or held by employees, officers, directors or consultants of the Corporation or its subsidiaries
pursuant to rights of first refusal contained in agreements providing for such rights, provided
that such repurchase is unanimously approved by the Board of Directors, and (iii) any other
repurchase or redemption of Common Stock unanimously approved by the Board of Directors and
approved by the holders of more than two-thirds (2/3) of the outstanding shares of Preferred Stock
voting together as a single class.

     3. Liquidation Rights.

     In the event of any liquidation, dissolution or winding up of the Corporation, either
voluntary or involuntary, distribution of the assets of the Corporation legally available for
distribution to the Corporation’s shareholders shall be made in the following manner:

          (a) Series E Liquidation Preference. The holders of the Series E Preferred Stock
shall be entitled to receive, prior and in preference to any distribution of any of the assets of
the Corporation to the holders of the Common Stock, the Series A Preferred Stock, the Series B
Preferred Stock, the Series C Preferred Stock, or the Series D Preferred Stock, by reason of their
ownership of such stock, an amount per share for each share of Series E Preferred Stock held by
them equal to the sum of (i) the Liquidation Preference for such shares and (ii) all declared and
unpaid dividends on such share of Series E Preferred Stock. If the assets of the Corporation
legally available for distribution to the holders of the Series E Preferred Stock are insufficient
to permit the payment to such holders of the full amounts specified in this Section 3(a), then the
entire assets of the Corporation legally available for distribution shall be distributed with equal
priority and pro rata among the holders of the Series E Preferred Stock in
proportion to the full amounts they would otherwise be entitled to receive pursuant to this Section
3(a).

          (b) Series D Liquidation Preference. After payment to the holders of Series E
Preferred Stock of the full amounts specified in Section 3(a) above, the holders of the Series D
Preferred Stock shall be entitled to receive, prior and in preference to any distribution of any of
the

-4-

 

assets of the Corporation to the holders of the Common Stock, the Series A Preferred Stock,
the Series B Preferred Stock or the Series C Preferred Stock by reason of their ownership of such
stock, an amount per share for each share of Series D Preferred Stock held by them equal to the sum
of (i) the Liquidation Preference for such shares and (ii) all declared and unpaid dividends on
such share of Series D Preferred Stock. If the remaining assets of the Corporation legally
available for distribution to the holders of Series D Preferred Stock are insufficient to permit
the payment to such holders of the full amounts specified in this Section 3(b), then the entire
remaining assets of the Corporation legally available for distribution shall be distributed with
equal priority and pro rata among the holders of the Series D Preferred Stock in
proportion to the full amounts they would otherwise be entitled to receive pursuant to this Section
3(b).

          (c) Series C Liquidation Preference. After payment to the holders of Series E
Preferred Stock and to the holders of Series D Preferred Stock of the full amounts specified in
Sections 3(a) and 3(b) above, the holders of the Series C Preferred Stock shall be entitled to
receive, prior and in preference to any distribution of any of the assets of the Corporation to the
holders of the Common Stock, the Series A Preferred Stock or the Series B Preferred Stock by reason
of their ownership of such stock, an amount per share for each share of Series C Preferred Stock
held by them equal to the sum of (i) the Liquidation Preference for such shares and (ii) all
declared and unpaid dividends on such share of Series C Preferred Stock. If the remaining assets
of the Corporation legally available for distribution to the holders of the Series C Preferred
Stock are insufficient to permit the payment to such holders of the full amounts specified in this
Section 3(c), then the entire remaining assets of the Corporation legally available for
distribution shall be distributed with equal priority and pro rata among the
holders of the Series C Preferred Stock in proportion to the full amounts they would otherwise be
entitled to receive pursuant to this Section 3(c).

          (d) Series B Liquidation Preference. After the payment to the holders of Series E
Preferred Stock, the holders of Series D Preferred Stock, and the holders of Series C Preferred
Stock of the full amounts specified in Sections 3(a), 3(b), and 3(c) above, the holders of the
Series B Preferred Stock shall be entitled to receive, prior and in preference to any distribution
of any of the remaining assets of the Corporation to the holders of the Common Stock or Series A
Preferred Stock by reason of their ownership of such stock, an amount per share for each share of
Series B Preferred Stock held by them equal to the sum of (i) the Liquidation Preference for such
shares and (ii) all declared and unpaid dividends on such share of Series B Preferred Stock. If
the remaining assets of the Corporation legally available for distribution to the holders of the
Series B Preferred Stock are insufficient to permit the payment to such holders of the full amounts
specified in this Section 3(d), then the entire remaining assets of the Corporation legally
available for distribution shall be distributed with equal priority and pro rata
among the holders of the Series B Preferred Stock in proportion to the full amounts they would
otherwise be entitled to receive pursuant to this Section 3(d).

          (e) Series A Liquidation Preference. After the payment to the holders of Series E
Preferred Stock, the holders of Series D Preferred Stock, the holders of Series C Preferred Stock,
and the holders of Series B Preferred Stock of the full amounts specified in Sections 3(a), 3(b),
3(c) and 3(d) above, the holders of the Series A Preferred Stock shall be entitled to receive,
prior and in preference to any distribution of any of the remaining assets of the Corporation to
the holders of the Common Stock by reason of their ownership of such stock, an amount per share for
each share of

-5-

 

Series A Preferred Stock held by them equal to the sum of (i) the Liquidation Preference for
such shares and (ii) all declared and unpaid dividends on such share of Series A Preferred Stock.
If the remaining assets of the Corporation legally available for distribution to the holders of the
Series A Preferred Stock are insufficient to permit the payment to such holders of the full amounts
specified in this Section 3(e), then the entire remaining assets of the Corporation legally
available for distribution shall be distributed with equal priority and pro rata
among the holders of the Series A Preferred Stock in proportion to the full amounts they would
otherwise be entitled to receive pursuant to this Section 3(e).

          (f) Remaining Assets. After the payment to the holders of Preferred Stock of the full
amounts specified in Sections 3(a), 3(b), 3(c), 3(d) and 3(e) above, the entire remaining assets of
the Corporation legally available for distribution shall be distributed pro rata to
holders of the Common Stock of the Corporation in proportion to the number of shares of Common
Stock held by them.

          (g) Shares Not Treated as Both Preferred Stock and Common Stock in Any Distribution.
Shares of Preferred Stock shall not be entitled to be converted into shares of Common Stock in
order to participate in any distribution, or series of distributions, as shares of Common Stock,
without first foregoing participation in the distribution, or series of distributions, as shares of
Preferred Stock.

          (h) Reorganization. For purposes of this Section 3, a liquidation, dissolution or
winding up of the Corporation shall be deemed to be occasioned by, or to include, (i) the
acquisition of the Corporation by another entity by means of any transaction or series of related
transactions (including, without limitation, any stock acquisition, reorganization, merger or
consolidation but excluding any merger effected exclusively for the purpose of changing the
domicile of the Corporation) other than a transaction or series of transactions in which the
holders of the voting securities of the Corporation outstanding immediately prior to such
transaction or series of transactions continue to retain (either by such voting securities
remaining outstanding or by such voting securities being converted into voting securities of the
surviving entity), as a result of shares in the Corporation held by such holders prior to such
transaction, at least fifty percent (50%) of the total voting power represented by the voting
securities of the Corporation or such surviving entity outstanding immediately after such
transaction or series of transactions; or (ii) a sale, transfer, lease or other conveyance of all
or substantially all of the assets of the Corporation.

          (i) Valuation of Non-Cash Consideration. If any assets of the Corporation distributed
to shareholders in connection with any liquidation, dissolution, or winding up of the Corporation
are other than cash, then the value of such assets shall be their fair market value as determined
in good faith by the Board of Directors, except that any securities to be distributed to
shareholders in a liquidation, dissolution, or winding up of the Corporation shall be valued as
follows:

               (i) If the securities are then traded on a national securities exchange or the Nasdaq Stock
Market System (or a similar national quotation system), then the value of the securities shall be
deemed to be to the average of the closing prices of the securities on such exchange or system over
the ten (10) trading day period ending five (5) trading days prior to the distribution;

-6-

 

               (ii) if the securities are actively traded over-the-counter, then the value of the securities
shall be deemed to be the average of the closing bid prices of the securities over the ten (10)
trading day period ending five (5) trading days prior to the distribution; or

               (iii) if there is no active public market for the securities, then the value of the securities
shall be deemed to be the fair market value thereof as determined in good faith by the Board of
Directors which determination shall include consideration of the illiquidity of the securities.

     In the event of a merger or other acquisition of the Corporation by another entity, the
distribution date shall be deemed to the date such transaction closes.

     For the purposes of this Section 3(i), “trading day” shall mean any day on which the exchange
or system on which the securities to be distributed are traded is open, and “closing prices” or
“closing bid prices” shall be deemed to be: (i) for securities traded primarily on the New York
Stock Exchange, the American Stock Exchange or Nasdaq, the last reported trade price or sale price,
as the case may be, at 4:00 p.m., New York time, on that day and (ii) for securities listed or
traded on other exchanges, markets and systems, the market price as of the end of the “regular
hours” trading period that is generally accepted as such for such exchange, market or system. If,
after the date hereof, the benchmark times generally accepted in the securities industry for
determining the market price of a stock as of a given trading day shall change from those set forth
above, the fair market value shall be determined as of such other generally accepted benchmark
times.

     4. Conversion. The holders of the Preferred Stock shall have conversion rights as
follows (the “Conversion Rights”):

          (a) Right to Convert. Subject to Section 4(c), each share of Preferred Stock shall be
convertible, at the option of the holder thereof, at any time after the date of issuance of such
share at the office of the Corporation or any transfer agent for the Preferred Stock, into that
number of fully-paid, nonassessable shares of Common Stock determined by dividing the Original
Issue Price for the relevant series by the Conversion Price for such series. (The number of shares
of Common Stock into which each share of Preferred Stock of a series may be converted is
hereinafter referred to as the “Conversion Rate” for each such series.) Upon any decrease or
increase in the Conversion Price for any series of Preferred Stock, as described in this Section 4,
the Conversion Rate for such series shall be appropriately increased or decreased.

          (b) Automatic Conversion. Each share of Preferred Stock shall automatically be
converted into fully-paid, non-assessable shares of Common Stock at the then effective Conversion
Rate for such share (i) immediately prior to the closing of a firm commitment underwritten initial
public offering on Form S-1 (or successor form) filed under the Securities Act of 1933, as amended
(the “Securities Act”), covering the offer and sale of the Corporation’s Common Stock, provided
that the offering price per share is not less than $5.69 (as adjusted for subdivisions and
combinations of the Common Stock and changes in the Common Stock as set forth in Sections 4(e) and
4(g)) and the aggregate gross proceeds to the Corporation are not less than $25,000,000, or (ii)
upon the receipt by the Corporation of a written consent or request for such conversion from the
holders of two-thirds of the shares of Preferred Stock then outstanding, or, if later, the
effective date for

-7-

 

conversion specified in such requests (each of the events referred to in (i) and (ii) being
hereinafter referred to as an “Automatic Conversion Event”).

          (c) Mechanics of Conversion. No fractional shares of Common Stock shall be issued
upon conversion of Preferred Stock. In lieu of any fractional shares to which the holder would
otherwise be entitled, the Corporation shall pay cash equal to such fraction multiplied by the then
fair market value of a share of Common Stock as determined by the Board of Directors. For such
purpose, all shares of Preferred Stock held by each holder of Preferred Stock shall be aggregated,
and any resulting fractional share of Common Stock shall be paid in cash. Before any holder of
Preferred Stock shall be entitled to convert the same into full shares of Common Stock, and to
receive certificates therefor, he shall either surrender the certificate or certificates therefor,
duly endorsed, at the office of the Corporation or of any transfer agent for the Preferred Stock,
or notify the Corporation or its transfer agent that such certificate or certificates have been
lost, stolen or destroyed and execute an agreement satisfactory to the Corporation to indemnify the
Corporation from any loss incurred by it in connection with such certificate or certificates, and
shall give written notice to the Corporation at such office that he elects to convert the same;
provided, however, that on the date of an Automatic Conversion Event, the
outstanding shares of Preferred Stock shall be converted automatically without any further action
by the holders of such shares and whether or not the certificates representing such shares are
surrendered to the Corporation or its transfer agent; provided further, however, that the
Corporation shall not be obligated to issue certificates evidencing the shares of Common Stock
issuable upon such Automatic Conversion Event unless either the certificates evidencing such shares
of Preferred Stock are delivered to the Corporation or its transfer agent as provided above, or the
holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen
or destroyed and executes an agreement satisfactory to the Corporation to indemnify the Corporation
from any loss incurred by it in connection with such certificates. On the date of the occurrence
of an Automatic Conversion Event, each holder of record of shares of Preferred Stock shall be
deemed to be the holder of record of the Common Stock issuable upon such conversion,
notwithstanding that the certificates representing such shares of Preferred Stock shall not have
been surrendered at the office of the Corporation, that notice from the Corporation shall not have
been received by any holder of record of shares of Preferred Stock, or that the certificates
evidencing such shares of Common Stock shall not then be actually delivered to such holder.

     The Corporation shall, as soon as practicable after such delivery, or after such agreement and
indemnification, issue and deliver at such office to such holder of Preferred Stock, a certificate
or certificates for the number of shares of Common Stock to which he shall be entitled as aforesaid
and a check payable to the holder in the amount of any cash amounts payable as the result of a
conversion into fractional shares of Common Stock, plus any declared and unpaid dividends on the
converted Preferred Stock. Such conversion shall be deemed to have been made immediately prior to
the close of business on the date of such surrender of the shares of Preferred Stock to be
converted, and the person or persons entitled to receive the shares of Common Stock issuable upon
such conversion shall be treated for all purposes as the record holder or holders of such shares of
Common Stock on such date; provided, however, that if the conversion is in
connection with an underwritten offer of securities registered pursuant to the Securities Act the
conversion may, at the option of any holder tendering Preferred Stock for conversion, be
conditioned upon the closing of the sale of securities pursuant to such offering, in which event
the person(s) entitled to receive the

-8-

 

Common Stock issuable upon such conversion of the Preferred Stock shall not be deemed to have
converted such Preferred Stock until immediately prior to the closing of the sale of such
securities.

          (d) Adjustments to Conversion Price for Diluting Issues.

               (i) Special Definition. For purposes of this Section 4(d), “Additional Shares of
Common” shall mean all shares of Common Stock issued (or, pursuant to Section 4(d)(iii), deemed to
be issued) by the Corporation after the filing of these Articles of Incorporation, other than:

                    (1) [omitted];

                    (2) shares of Common Stock issued or issuable to officers, directors and employees of, or
consultants and other service providers to, the Corporation pursuant to stock grants, option plans,
purchase plans or other employee stock incentive programs or arrangements approved by the Board of
Directors or upon exercise of options or warrants granted to such parties pursuant to any such
plan, program or arrangement;

                    (3) shares of Common Stock issued upon the exercise or conversion of Options or Convertible
Securities outstanding as of the date of the filing of these Articles of Incorporation;

                    (4) shares of Common Stock issued or issuable as a dividend or distribution on Preferred Stock
or pursuant to any event for which adjustment is made pursuant to Section 4(e), 4(f) or 4(g)
hereof;

                    (5) shares of Common Stock issued in a registered public offering under the Securities Act
pursuant to which all outstanding shares of Preferred Stock are automatically converted into Common
Stock pursuant to an Automatic Conversion Event;

                    (6) shares of Common Stock issued or issuable pursuant to the acquisition of another
corporation by the Corporation by merger, purchase of substantially all of the assets or other
reorganization or to a joint venture agreement, provided, that such issuances are unanimously
approved by the Board of Directors;

                    (7) shares of Common Stock issued or issuable to banks, equipment lessors or other financial
institutions pursuant to a commercial leasing or debt financing transaction approved by the Board
of Directors;

                    (8) shares of Common Stock issued or issuable in connection with sponsored research,
collaboration, technology license, development, OEM, marketing or other similar agreements, or
strategic partnerships or relationships, if the issuance is approved by the Board of Directors; and

                    (9) shares of Common Stock issued or issuable upon conversion of up to $18 million in
aggregate principal amount (plus interest) of convertible promissory notes originally issued or
issuable to Biomedical Sciences Investment Fund Pte Ltd. or its affiliates (“BMSIF”) and upon
conversion of up to $3 million in aggregate principal amount (plus interest) of convertible
promissory notes originally issued or issuable to Invus, L.P. or its affiliates, provided

-9-

 

that with respect to any shares of Common Stock issued or issuable upon conversion of
convertible promissory notes issued or issuable to BMSIF after the filing of these Articles of
Incorporation with an aggregate principal amount in excess of $3.0 million, such shares of Common
Stock shall only be excluded from the definition of Additional Shares of Common pursuant to this
section if and to the extent the applicable conversion price for such shares equals or exceeds
$3.60 (as adjusted for stock splits, subdivisions, combinations or stock dividends).

               (ii) No Adjustment of Conversion Price. No adjustment in the Conversion Price of a
particular series of Preferred Stock shall be made in respect of the issuance of Additional Shares
of Common unless the consideration per share (as determined pursuant to Section 4(d)(vii)) for an
Additional Share of Common issued or deemed to be issued by the Corporation is less than the
Conversion Price in effect on the date of, and immediately prior to such issue, for such series of
Preferred Stock.

               (iii) Deemed Issue of Additional Shares of Common. In the event the Corporation at
any time or from time to time after the date of the filing of these Articles of Incorporation shall
issue any Options or Convertible Securities or shall fix a record date for the determination of
holders of any class of securities entitled to receive any such Options or Convertible Securities,
then the maximum number of shares (as set forth in the instrument relating thereto without regard
to any provisions contained therein for a subsequent adjustment of such number) of Common Stock
issuable upon the exercise of such Options or, in the case of Convertible Securities, the
conversion or exchange of such Convertible Securities or, in the case of Options for Convertible
Securities, the exercise of such Options and the conversion or exchange of the underlying
securities, shall be deemed to have been issued as of the time of such issue or, in case such a
record date shall have been fixed, as of the close of business on such record date, provided that
in any such case in which shares are deemed to be issued:

                    (1) no further adjustment in the Conversion Price of the Preferred Stock shall be made upon
the subsequent issue of Convertible Securities or shares of Common Stock in connection with the
exercise of such Options or conversion or exchange of such Convertible Securities pursuant to the
terms of such Options or Convertible Securities;

                    (2) if no adjustment in the Conversion Price of the Preferred Stock was made upon the original
issue of (or upon the occurrence of a record date with respect to) such Options or Convertible
Securities and such Options or Convertible Securities are revised to provide, or by their terms
provide, with the passage of time or otherwise, for any increase or decrease in the consideration
payable to the Corporation, or any increase or decrease in the number of shares of Common Stock
issuable, upon the exercise, conversion or exchange thereof, then such Options or Convertible
Securities as so revised (and the Additional Shares of Common subject thereto) shall be deemed to
have been issued effective upon such increase or decrease becoming effective;

                    (3) if such Options or Convertible Securities are revised to provide, or by their terms
provide, with the passage of time or otherwise, for any increase or decrease in the consideration
payable to the Corporation, or any increase or decrease in the number of shares of Common Stock
issuable, upon the exercise, conversion or exchange thereof, the Conversion Price of the Preferred
Stock computed upon the original issue thereof (or upon the occurrence of a record date with
respect thereto), and any subsequent adjustments based thereon,

-10-

 

shall, upon any such increase or decrease becoming effective, be recomputed to reflect such
increase or decrease insofar as it affects such Options or the rights of conversion or exchange
under such Convertible Securities;

                    (4) no readjustment pursuant to clause (3) above shall have the effect of increasing the
Conversion Price of the Preferred Stock to an amount which exceeds the lower of (i) the Conversion
Price of the Preferred Stock on the original adjustment date, or (ii) the Conversion Price of the
Preferred Stock that would have resulted from any issuance of Additional Shares of Common between
the original adjustment date and such readjustment date;

                    (5) upon the expiration of any such Options or any rights of conversion or exchange under such
Convertible Securities which shall not have been exercised, the Conversion Price computed upon the
original issue thereof (or upon the occurrence of a record date with respect thereto) and any
subsequent adjustments based thereon shall, upon such expiration, be recomputed as if:

                         (A) in the case of Convertible Securities or Options for Common Stock, the only Additional
Shares of Common issued were the shares of Common Stock, if any, actually issued upon the exercise
of such Options or the conversion or exchange of such Convertible Securities and the consideration
received therefor was the consideration actually received by the Corporation for the issue of such
exercised Options plus the consideration actually received by the Corporation upon such exercise or
for the issue of all such Convertible Securities which were actually converted or exchanged, plus
the additional consideration, if any, actually received by the Corporation upon such conversion or
exchange, and

                         (B) in the case of Options for Convertible Securities, only the Convertible Securities, if
any, actually issued upon the exercise thereof were issued at the time of issue of such Options,
and the consideration received by the Corporation for the Additional Shares of Common deemed to
have been then issued was the consideration actually received by the Corporation for the issue of
such exercised Options, plus the consideration deemed to have been received by the Corporation
(determined pursuant to Section 4(d)(vii)) upon the issue of the Convertible Securities with
respect to which such Options were actually exercised; and

                    (6) if such record date shall have been fixed and such Options or Convertible Securities are
not issued on the date fixed therefor, the adjustment previously made in the Conversion Price which
became effective on such record date shall be canceled as of the close of business on such record
date, and thereafter the Conversion Price shall be adjusted pursuant to this Section 4(d)(iii) as
of the actual date of their issuance.

               (iv) Adjustment of Conversion Price of Series E Preferred Stock Upon Issuance of
Additional Shares of Common.

                    (1) For so long as the Conversion Price of the Series E Preferred Stock is greater than $2.58
(as adjusted for subdivisions and combinations of the Common Stock and changes in the Common Stock
as set forth in Sections 4(e) and 4(g)) (the “Series D/E Ratchet Amount”), in the event this
Corporation shall issue Additional Shares of Common (including Additional Shares of Common deemed
to be issued pursuant to Section 4(d)(iii)) for a consideration

-11-

 

per share less than the applicable Conversion Price of the Series E Preferred Stock in effect
on the date of and immediately prior to such issue, but for a consideration per share equal to or
greater than the Series D/E Ratchet Amount, then the Conversion Price of the Series E Preferred
Stock shall be reduced concurrently with such issue to a price (calculated to the nearest cent)
equal to the per share price of the Additional Shares of Common.

                    (2) In the event this Corporation shall issue Additional Shares of Common (including
Additional Shares of Common deemed to be issued pursuant to Section 4(d)(iii)) without
consideration or for a consideration per share less than the Series D/E Ratchet Amount, then the
Conversion Price of the Series E Preferred Stock immediately prior to such issue shall be deemed to
be equal to the Series D/E Ratchet Amount (the “Series E Adjusted Conversion Price”), and such
Series E Adjusted Conversion Price shall be further reduced, concurrently with such issue, to a
price (calculated to the nearest cent) determined by multiplying such Series E Adjusted Conversion
Price by a fraction, the numerator of which shall be the number of shares of Common Stock
outstanding immediately prior to such issue plus the number of shares of Common Stock which the
aggregate consideration received by the Corporation for the total number of Additional Shares of
Common so issued would purchase at such Adjusted Conversion Price, and the denominator of which
shall be the number of shares of Common Stock outstanding immediately prior to such issue plus the
number of such Additional Shares of Common so issued. For the purposes of this Section
4(d)(iv)(2), all shares of Common Stock issuable upon exercise of outstanding Options or the
conversion of outstanding Convertible Securities and shares of Preferred Stock, and all Additional
Shares of Common deemed issued pursuant to Section 4(d)(iii) hereof, shall be deemed to be
outstanding. Section 4(d)(iv)(3) shall govern adjustments to the Conversion Price of the Series E
Preferred Stock after the first adjustment to the Conversion Price of the Series E Preferred Stock
pursuant to this Section 4(d)(iv)(2).

                    (3) After any adjustment to the Conversion Price of the Series E Preferred Stock pursuant to
Section 4(d)(iv)(2), in the event this Corporation shall issue Additional Shares of Common
(including Additional Shares of Common deemed to be issued pursuant to Section 4(d)(iii)) without
consideration or for a consideration per share less than Conversion Price of the Series E Preferred
Stock in effect on the date of and immediately prior to such issue, then, the Conversion Price of
the Series E Preferred Stock shall be reduced concurrently with such issue, to a price (calculated
to the nearest cent) determined by multiplying such Conversion Price by a fraction, the numerator
of which shall be the number of shares of Common Stock outstanding immediately prior to such issue
plus the number of shares of Common Stock which the aggregate consideration received by the
Corporation for the total number of Additional Shares of Common so issued would purchase at such
Conversion Price, and the denominator of which shall be the number of shares of Common Stock
outstanding immediately prior to such issue plus the number of such Additional Shares of Common so
issued. For the purposes of this Section 4(d)(iv)(3), all shares of Common Stock issuable upon
exercise of outstanding Options or the conversion of outstanding Convertible Securities and shares
of Preferred Stock, and all Additional Shares of Common deemed issued pursuant to Section 4(d)(iii)
hereof, shall be deemed to be outstanding.

-12-

 

               (v) Adjustment of Conversion Price of Series D Preferred Stock Upon Issuance of Additional
Shares of Common.

                    (1) For so long as the Conversion Price of the Series D Preferred Stock is greater than the
Series D/E Ratchet Amount, in the event this Corporation shall issue Additional Shares of Common
(including Additional Shares of Common deemed to be issued pursuant to Section 4(d)(iii)) for a
consideration per share less than the applicable Conversion Price of the Series D Preferred Stock
in effect on the date of and immediately prior to such issue, but for a consideration per share
equal to or greater than the Series D/E Ratchet Amount, then the Conversion Price of the Series D
Preferred Stock shall be reduced concurrently with such issue to a price (calculated to the nearest
cent) equal to the per share price of the Additional Shares of Common.

                    (2) In the event this Corporation shall issue Additional Shares of Common (including
Additional Shares of Common deemed to be issued pursuant to Section 4(d)(iii)) without
consideration or for a consideration per share less than the Series D/E Ratchet Amount, then the
Conversion Price of the Series D Preferred Stock immediately prior to such issue shall be deemed to
be equal to the Series D/E Ratchet Amount (the “Series D Adjusted Conversion Price”), and such
Series D Adjusted Conversion Price shall be further reduced, concurrently with such issue, to a
price (calculated to the nearest cent) determined by multiplying such Series D Adjusted Conversion
Price by a fraction, the numerator of which shall be the number of shares of Common Stock
outstanding immediately prior to such issue plus the number of shares of Common Stock which the
aggregate consideration received by the Corporation for the total number of Additional Shares of
Common so issued would purchase at such Series D Adjusted Conversion Price, and the denominator of
which shall be the number of shares of Common Stock outstanding immediately prior to such issue
plus the number of such Additional Shares of Common so issued. For the purposes of this Section
4(d)(v)(2), all shares of Common Stock issuable upon exercise of outstanding Options or the
conversion of outstanding Convertible Securities and shares of Preferred Stock, and all Additional
Shares of Common deemed issued pursuant to Section 4(d)(iii) hereof, shall be deemed to be
outstanding. Section 4(d)(v)(3) shall govern adjustments to the Conversion Price of the Series D
Preferred Stock after the first adjustment to the Conversion Price of the Series D Preferred Stock
pursuant to this Section 4(d)(v)(2).

                    (3) After any adjustment to the Conversion Price of the Series D Preferred Stock pursuant to
Section 4(d)(v)(2), in the event this Corporation shall issue Additional Shares of Common
(including Additional Shares of Common deemed to be issued pursuant to Section 4(d)(iii)) without
consideration or for a consideration per share less than Conversion Price of the Series D Preferred
Stock in effect on the date of and immediately prior to such issue, then, the Conversion Price of
the Series D Preferred Stock shall be reduced concurrently with such issue, to a price (calculated
to the nearest cent) determined by multiplying such Conversion Price by a fraction, the numerator
of which shall be the number of shares of Common Stock outstanding immediately prior to such issue
plus the number of shares of Common Stock which the aggregate consideration received by the
Corporation for the total number of Additional Shares of Common so issued would purchase at such
Conversion Price, and the denominator of which shall be the number of shares of Common Stock
outstanding immediately prior to such issue plus the number of such Additional Shares of Common so
issued. For the purposes of this Section 4(d)(v)(3), all shares of Common Stock issuable upon
exercise of outstanding Options or the conversion of outstanding Convertible

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Securities and shares of Preferred Stock, and all Additional Shares of Common deemed issued
pursuant to Section 4(d)(iii) hereof, shall be deemed to be outstanding.

               (vi) Adjustment of Conversion Price of Series A, B and C Preferred Stock. In the
event this Corporation shall issue Additional Shares of Common (including Additional Shares of
Common deemed to be issued pursuant to Section 4(d)(iii)) without consideration or for a
consideration per share less than the applicable Conversion Price of the Series A Preferred Stock,
Series B Preferred Stock or Series C Preferred Stock in effect on the date of and immediately prior
to such issue, then, the Conversion Price of the Series A Preferred Stock, Series B Preferred Stock
or Series C Preferred Stock (if affected) shall be reduced, concurrently with such issue, to a
price (calculated to the nearest cent) determined by multiplying such Conversion Price by a
fraction, the numerator of which shall be the number of shares of Common Stock outstanding
immediately prior to such issue plus the number of shares of Common Stock which the aggregate
consideration received by the Corporation for the total number of Additional Shares of Common so
issued would purchase at such Conversion Price, and the denominator of which shall be the number of
shares of Common Stock outstanding immediately prior to such issue plus the number of such
Additional Shares of Common so issued. For the purposes of this Section 4(d)(vi), all shares of
Common Stock issuable upon exercise of outstanding Options or the conversion of outstanding
Convertible Securities and shares of Preferred Stock, and all Additional Shares of Common deemed
issued pursuant to Section 4(d)(iii) hereof, shall be deemed to be outstanding.

               (vii) Determination of Consideration. For purposes of this Section 4(d), the
consideration received by the Corporation for the issue (or deemed issue) of any Additional Shares
of Common shall be computed as follows:

                    (1) Cash and Property. Such consideration shall:

                         (A) insofar as it consists of cash, be computed at the aggregate amount of cash received by
the Corporation before deducting reasonable discounts, commissions or other expenses allowed, paid
or incurred by the Corporation for any underwriting or otherwise in connection with such issue (or
deemed issue);

                         (B) insofar as it consists of property other than cash, be computed at the fair market value
thereof at the time of such issue, as determined in good faith by the Board of Directors; and

                         (C) in the event Additional Shares of Common are issued together with other shares or
securities or other assets of the Corporation for consideration which covers both, be the
proportion of such consideration so received, computed as provided in clauses (A) and (B) above, as
reasonably determined in good faith by the Board of Directors.

                    (2) Options and Convertible Securities. The consideration per share received by the
Corporation for Additional Shares of Common deemed to have been issued pursuant to Section
4(d)(iii) shall be determined by dividing

                         (X) the total amount, if any, received or receivable by the Corporation as consideration for
the issue of such Options or Convertible Securities, plus the minimum aggregate amount of
additional consideration (as set forth in the instruments relating

-14-

 

thereto, without regard to any provision contained therein for a subsequent adjustment of such
consideration) payable to the Corporation upon the exercise of such Options or the conversion or
exchange of such Convertible Securities, or in the case of Options for Convertible Securities, the
exercise of such Options for Convertible Securities and the conversion or exchange of such
Convertible Securities by

                         (Y) the maximum number of shares of Common Stock (as set forth in the instruments relating
thereto, without regard to any provision contained therein for a subsequent adjustment of such
number) issuable upon the exercise of such Options or the conversion or exchange of such
Convertible Securities.

          (e) Adjustments for Subdivisions or Combinations of Common Stock. In the event the
outstanding shares of Common Stock shall be subdivided (by stock split, by payment of a stock
dividend or otherwise), into a greater number of shares of Common Stock, the Conversion Price of
each series of Preferred Stock in effect immediately prior to such subdivision shall, concurrently
with the effectiveness of such subdivision, be proportionately decreased. In the event the
outstanding shares of Common Stock shall be combined (by reclassification or otherwise) into a
lesser number of shares of Common Stock, the Conversion Prices in effect immediately prior to such
combination shall, concurrently with the effectiveness of such combination, be proportionately
increased.

          (f) Adjustments for Subdivisions or Combinations of Preferred Stock. In the event the
outstanding shares of Preferred Stock or a series of Preferred Stock shall be subdivided (by stock
split, by payment of a stock dividend or otherwise), into a greater number of shares of Preferred
Stock, the Dividend Rate, Original Issue Price and Liquidation Preference of the affected series of
Preferred Stock in effect immediately prior to such subdivision shall, concurrently with the
effectiveness of such subdivision, be proportionately decreased. In the event the outstanding
shares of Preferred Stock or a series of Preferred Stock shall be combined (by reclassification or
otherwise) into a lesser number of shares of Preferred Stock, the Dividend Rate, Original Issue
Price and Liquidation Preference of the affected series of Preferred Stock in effect immediately
prior to such combination shall, concurrently with the effectiveness of such combination, be
proportionately increased.

          (g) Adjustments for Reclassification, Exchange and Substitution. Subject to Section 3
above (“Liquidation Rights”), if the Common Stock issuable upon conversion of the Preferred Stock
shall be changed into the same or a different number of shares of any other class or classes of
stock, whether by capital reorganization, reclassification or otherwise (other than a subdivision
or combination of shares provided for above), then, in any such event, in lieu of the number of
shares of Common Stock which the holders would otherwise have been entitled to receive, each holder
of such Preferred Stock shall have the right thereafter to convert such shares of Preferred Stock
into a number of shares of such other class or classes of stock which a holder of the number of
shares of Common Stock deliverable upon conversion of such series of Preferred Stock immediately
before that change would have been entitled to receive in such reorganization or reclassification,
all subject to further adjustment as provided herein with respect to such other shares.

          (h) No Impairment. The Corporation will not through any reorganization, transfer of
assets, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or
seek

-15-

 

to avoid the observance or performance of any of the terms to be observed or performed
hereunder by the Corporation but will at all times in good faith assist in the carrying out of all
the provisions of this Section 4 and in the taking of all such action as may be necessary or
appropriate in order to protect the Conversion Rights of the holders of Preferred Stock against
impairment. Notwithstanding the foregoing, nothing in this Section 4(h) shall prohibit the
Corporation from amending its Articles of Incorporation with the requisite consent of its
shareholders and the board of directors.

          (i) Certificate as to Adjustments. Upon the occurrence of each adjustment or
readjustment of the Conversion Price pursuant to this Section 4, the Corporation at its expense
shall promptly compute such adjustment or readjustment in accordance with the terms hereof and
furnish to each holder of Preferred Stock a certificate setting forth such adjustment or
readjustment and showing in detail the facts upon which such adjustment or readjustment is based.
The Corporation shall, upon the written request at any time of any holder of Preferred Stock,
furnish or cause to be furnished to such holder a like certificate setting forth (i) such
adjustments and readjustments, (ii) the Conversion Price at the time in effect and (iii) the number
of shares of Common Stock and the amount, if any, of other property which at the time would be
received upon the conversion of Preferred Stock.

          (j) Notices of Record Date. In the event that this Corporation shall propose at any
time:

               (i) to declare any dividend or distribution upon its Common Stock, whether in cash, property,
stock or other securities, whether or not a regular cash dividend and whether or not out of
earnings or earned surplus;

               (ii) to effect any reclassification or recapitalization of its Common Stock outstanding
involving a change in the Common Stock; or

               (iii) to voluntarily liquidate or dissolve or to enter into any transaction deemed to be a
liquidation, dissolution or winding up of the corporation pursuant to Section 3(f);

then, in connection with each such event, this Corporation shall send to the holders of the
Preferred Stock at least 14 days’ prior written notice of the date on which a record shall be taken
for such dividend or distribution (and specifying the date on which the holders of Common Stock
shall be entitled thereto) or for determining rights to vote in respect of the matters referred to
in (ii) and (iii) above.

     Each such written notice shall be given by first class mail, postage prepaid, addressed to the
holders of Preferred Stock at the address for each such holder as shown on the books of this
Corporation.

     The right of the holders of the Preferred Stock to notice hereunder may be waived by the
holders of more than two-thirds (2/3) of the outstanding shares of the Preferred Stock voting
together as a single class.

          (k) Reservation of Stock Issuable Upon Conversion. The Corporation shall at all times
reserve and keep available out of its authorized but unissued shares of Common Stock solely

-16-

 

for the purpose of effecting the conversion of the shares of the Preferred Stock, such number
of its shares of Common Stock as shall from time to time be sufficient to effect the conversion of
all then outstanding shares of the Preferred Stock; and if at any time the number of authorized but
unissued shares of Common Stock shall not be sufficient to effect the conversion of all then
outstanding shares of the Preferred Stock, the Corporation will take such corporate action as may,
in the opinion of its counsel, be necessary to increase its authorized but unissued shares of
Common Stock to such number of shares as shall be sufficient for such purpose.

          (l) Waiver of Adjustment of Conversion Price. Notwithstanding anything herein to the
contrary, any downward adjustment of the Conversion Price of any series of Preferred Stock may be
waived by the consent or vote of the holders of more than two-thirds (2/3) of the outstanding shares
of such series. Any such waiver shall bind all future holders of shares of such series of
Preferred Stock.

     5. Voting.

          (a) Restricted Class Voting. Except as otherwise expressly provided herein or as
required by law, the holders of Preferred Stock and the holders of Common Stock shall vote together
and not as separate classes.

          (b) No Series Voting. Other than as provided herein or required by law, there shall
be no series voting.

          (c) Preferred Stock. Each holder of Preferred Stock shall be entitled to the number
of votes equal to the number of shares of Common Stock into which the shares of Preferred Stock
held by such holder could be converted as of the record date. The holders of shares of the
Preferred Stock shall be entitled to vote on all matters on which the Common Stock shall be
entitled to vote. Holders of Preferred Stock shall be entitled to notice of any shareholders’
meeting in accordance with the Bylaws of the Corporation. Fractional votes shall not, however, be
permitted and any fractional voting rights resulting from the above formula (after aggregating all
shares into which shares of Preferred Stock held by each holder could be converted), shall be
disregarded.

          (d) Common Stock. Each holder of shares of Common Stock shall be entitled to one vote
for each share thereof held.

          (e) Election of Directors. So long as at least 2,000,000 shares of Series D Preferred
Stock (as adjusted for stock splits, subdivisions, combinations or stock dividends with respect to
such shares) remain outstanding, the holders of the Series D Preferred Stock, voting as a separate
class, shall be entitled to elect two (2) members of the Corporation’s Board of Directors at each
meeting or pursuant to each consent of the Corporation’s shareholders for the election of
directors. So long as at least 2,000,000 shares of Series C Preferred Stock (as adjusted for stock
splits, subdivisions, combinations or stock dividends with respect to such shares) remain
outstanding, the holders of Series C Preferred Stock, voting as a separate class, shall be entitled
to elect three (3) members of the Corporation’s Board of Directors at each meeting or pursuant to
each consent of the Corporation’s shareholders for the election of directors. Any additional
members of the Corporation’s Board of Directors shall be elected by the holders of Common Stock,
Series A

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Preferred Stock, Series B Preferred Stock, and Series E Preferred Stock, voting together as a
single class.

     6. Amendments and Changes Requiring Approval of Preferred Stock. As long as any of
the Preferred Stock shall be issued and outstanding, the Corporation shall not, without first
obtaining the approval (by vote or written consent as provided by law) of the holders of at least
two-thirds (2/3) of the outstanding shares of the Preferred Stock voting together as a single class:

          (a) amend, alter or repeal any provision of the Articles of Incorporation or By-laws of the
Corporation if such action would adversely alter the rights, preferences, privileges or powers of,
or restrictions provided for the benefit of the Preferred Stock or any series thereof;

          (b) enter into any transaction or series of related transactions deemed to be a liquidation,
dissolution or winding up of the Corporation pursuant to Section 3(f) above;

          (c) voluntarily liquidate or dissolve;

          (d) declare or pay any distribution (as defined in Section 2(d) except for distributions upon
a liquidation or dissolution) with respect to the Common Stock of the Corporation;

          (e) permit any subsidiary of the Corporation to sell securities to a third party (other than
directors’ qualifying shares in the case of subsidiaries outside the United States);

          (f) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Preferred Stock;

          (g) authorize or create (by reclassification or otherwise) any new class or series of capital
stock having rights, preferences or privileges with respect to dividends, liquidation, redemption,
conversion or other rights senior to or on a parity with any series of Preferred Stock or with
respect to voting senior to any series of Preferred Stock;

          (h) increase or decrease the authorized number of directors of the Corporation; or

          (i) amend this Section 6.

     7. Amendments and Changes Requiring the Approval of the Series E Preferred Stock.

          (a) As long as any of the Series E Preferred Stock shall be issued and outstanding, the
Corporation shall not, without first obtaining the approval (by vote or written consent as provided
by law) of the holders of at least 60% of the outstanding shares of the Series E Preferred Stock:

               (i) amend, alter or repeal any provision of the Articles of Incorporation of the Corporation
if such action would adversely alter the rights, preferences, privileges or powers of, or
restrictions provided for the benefit of the Series E Preferred Stock in a manner different from
any other series of Preferred Stock; or

-18-

 

               (ii) amend this Section 7(a).

          (b) As long as any of the Series E Preferred Stock shall be issued and outstanding, the
Corporation shall not, without first obtaining the approval (by vote or written consent as provided
by law) of the holders of at least a majority of the outstanding shares of the Series E Preferred
Stock:

               (i) declare or pay any distribution (as defined in Section 2(d) except for distributions upon
a liquidation or dissolution) with respect to the Common Stock or Preferred Stock of the
Corporation; or

               (ii) amend this Section 7(b).

          (c) As long as any of the Series E Preferred Stock shall be issued and outstanding, the
Corporation shall not, without first obtaining the approval (by vote or written consent as provided
by law) of the holders of at least 66 2/3% of the outstanding shares of the Series D Preferred
Stock and Series E Preferred Stock voting together as a single class on an as converted to Common
Stock basis:

               (i) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Series E Preferred Stock;

               (ii) authorize or create (by reclassification or otherwise) any new class or series of capital
stock having rights, preferences or privileges with respect to dividends, payments upon liquidation
or other rights senior to or on a parity with the Series E Preferred Stock or with respect to
voting senior to the Series E Preferred Stock; or

               (iii) amend this Section 7(c).

     8. Amendments and Changes Requiring the Approval of the Series D Preferred Stock.

          (a) As long as any of the Series D Preferred Stock shall be issued and outstanding, the
Corporation shall not, without first obtaining the approval (by vote or written consent as provided
by law) of the holders of at least 60% of the outstanding shares of the Series D Preferred Stock:

               (i) amend, alter or repeal any provision of the Articles of Incorporation of the Corporation
if such action would adversely alter the rights, preferences, privileges or powers of, or
restrictions provided for the benefit of the Series D Preferred Stock in a manner different from
any other series of Preferred Stock; or

               (ii) amend this Section 8(a).

          (b) As long as any of the Series D Preferred Stock shall be issued and outstanding, the
Corporation shall not, without first obtaining the approval (by vote or written consent as provided
by law) of the holders of at least a majority of the outstanding shares of the Series D Preferred
Stock:

-19-

 

               (i) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Series D Preferred Stock;

               (ii) authorize or create (by reclassification or otherwise) any new class or series of capital
stock having rights, preferences or privileges with respect to dividends, payments upon liquidation
or other rights senior to or on a parity with the Series D Preferred Stock or with respect to
voting senior to the Series D Preferred Stock;

               (iii) declare or pay any distribution (as defined in Section 2(d) except for distributions
upon a liquidation or dissolution) with respect to the Common Stock or Preferred Stock of the
Corporation;

               (iv) increase the authorized number of directors of the Corporation above eleven (11); or

               (v) amend this Section 8(b).

     9. Amendments and Changes Requiring the Approval of the Series C Preferred Stock. As
long as any of the Series C Preferred Stock shall be issued and outstanding, the Corporation shall
not, without first obtaining the approval (by vote or written consent as provided by law) of the
holders of at least two-thirds (2/3) of the outstanding shares of the Series C Preferred Stock:

          (a) amend, alter or repeal any provision of the Articles of Incorporation of the Corporation
if such action would adversely alter the rights, preferences, privileges or powers of, or
restrictions provided for the benefit of the Series C Preferred Stock in a manner different from
any other series of Preferred Stock;

          (b) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Series C Preferred Stock;

          (c) authorize or create (by reclassification or otherwise) any new class or series of capital
stock having rights, preferences or privileges with respect to dividends, payments upon liquidation
or other rights senior to or on a parity with the Series C Preferred Stock or with respect to
voting senior to the Series C Preferred Stock;

          (d) declare or pay any distribution (as defined in Section 2(d) except for distributions upon
a liquidation or dissolution) with respect to the Common Stock or Preferred Stock of the
Corporation;

          (e) increase the authorized number of directors of the Corporation above eleven (11); or

          (f) amend this Section 9.

     10. Amendments and Changes Requiring the Approval of the Series B Preferred Stock. As
long as any of the Series B Preferred Stock shall be issued and outstanding, the Corporation shall
not, without first obtaining the approval (by vote or written consent as provided by law) of the
holders of at least two-thirds of the outstanding shares of the Series B Preferred Stock:

-20-

 

          (a) amend, alter or repeal any provision of the Articles of Incorporation of the Corporation
if such action would adversely alter the rights, preferences, privileges or powers of, or
restrictions provided for the benefit of the Series B Preferred Stock in a manner different from
any other series of Preferred Stock;

          (b) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Series B Preferred Stock; or

          (c) amend this Section 10.

     11. Status of Converted Stock. In the event any shares of Preferred Stock shall be
converted pursuant to Article 4 hereof, then the shares so converted shall be cancelled and shall
not be issuable by the Corporation. The Articles of Incorporation shall be appropriately amended
to effect the corresponding reduction in the Corporation’s authorized capital stock.

     12. Notices. Any notice required by the provisions of this Article IV to be given to
the holders of Preferred Stock shall be deemed given if deposited in the United States mail,
postage prepaid, and addressed to each holder of record at such holder’s address appearing on the
books of the Corporation.

ARTICLE V

     1. Limitation of Directors’ Liability. The liability of the directors of this
Corporation for monetary damages shall be eliminated to the fullest extent permissible under
California law.

     2. Indemnification of Corporate Agents. This Corporation is authorized to provide
indemnification of agents (as defined in Section 317 of the California Corporations Code) through
bylaw provisions, agreements with agents, votes of shareholders or disinterested directors or
otherwise, in excess of the indemnification otherwise permitted by Section 317 of the California
Corporations Code, subject only to the applicable limits set forth in Section 204 of the California
Corporations Code with respect to actions for breach of duty to this Corporation and its
shareholders.

     3. Repeal or Modification. Any repeal or modification of the foregoing provisions of
this Article V shall not adversely affect any right of indemnification or limitation of liability
permitted under California law relating to acts or omissions occurring prior to such repeal or
modification.

-21-

 

EXHIBIT
C

SCHEDULE
OF EXCEPTIONS

 

FLUIDIGM CORPORATION

SERIES E PREFERRED STOCK PURCHASE AGREEMENT

UPDATED SCHEDULE OF EXCEPTIONS

October 26, 2007

     FLUIDIGM CORPORATION, a Delaware corporation (the “Company”), hereby makes the
following exceptions and additional disclosure to the representations and warranties set forth in
Section 2 of the Series E Preferred Stock Purchase Agreement dated as of June 13, 2007 between the
Company and the Purchasers thereunder, as amended by that certain Amendment No.1 dated December 22,
2006, and further amended by Amendment No. 2 dated October 10, 2007 and Amendment No. 3 dated
October 26, 2007 (as amended, the “Agreement”). Except as otherwise defined herein, all
capitalized terms used herein shall have the meanings given them in the Agreement. The section
numbers below correspond to the section numbers of the representations and warranties in the
Agreement; provided that any information disclosed herein under any section number shall be deemed
to be disclosed and incorporated under any other section number under the Agreement where such
disclosure would be appropriate.

     Nothing in this Schedule of Exceptions is intended to broaden the scope of any representation
or warranty contained in the Agreement or to create any covenant. Inclusion of any item in this
Schedule of Exceptions (1) does not represent a determination that such item is material or
establish a standard of materiality, (2) does not represent a determination that such item did not
arise in the ordinary course of business, (3) does not represent a determination that the
transactions contemplated by the Agreement require the consent of third parties, and (4) shall not
constitute, or be deemed to be, an admission to any third party concerning such item. This
Schedule of Exceptions includes brief descriptions or summaries of certain agreements and
instruments, copies of which are available upon reasonable request. Such descriptions do not
purport to be comprehensive, and are qualified in their entirety by reference to the text of the
documents described.

     This Schedule of Exceptions reflects exceptions and additional disclosure to the
representations and warranties made by the Company set forth in Section 2 of the Agreement as of
October 26, 2007, and has not been updated for Subsequent Closings. The Purchaser acknowledges
that there may be changes to such exceptions and additional disclosure since October 26, 2007, and
accepts the Schedule of Exceptions as of October 26, 2007.

     2.1 Organization, Good Standing and Qualification

     On July 18, 2007, Fluidigm Corporation, a California corporation (“Fluidigm California”) was
merged with and into the Company, with the Company being the surviving corporation such that the
Company succeeded to all of Fluidigm California’s rights and obligations, including those under the
Purchase Agreement.

     2.3 Subsidiaries

     The Company has a wholly-owned subsidiary in Singapore, Fluidigm Singapore Pte. Ltd.

     The Company has a wholly-owned subsidiary in the Netherlands, Fluidigm Europe, B.V., which has
a wholly-owned subsidiary in France, Fluidigm France, S.A.R.L.

 

 

     The Company has a wholly-owned subsidiary in Japan, Fluidigm Japan K.K.

     2.4 Capitalization

     The Company has extended offers of option grants for up to approximately 200,000 shares of
Common Stock to certain of the Company’s employees and consultants in addition to the options that
are currently outstanding. In addition, the Company is currently negotiating or has entered into
agreements with consultants and employees for the issuance of options to purchase shares of the
Company’s Common Stock under the Company’s 1999 Stock Option Plan.

     In connection with a Development Collaboration and License Agreement (the “Collaboration
Agreement”) entered into on September 22, 2003 between the Company and Glaxo Group Limited
(“Glaxo”) and SmithKline Beecham Corporation (“SKB”), the Company issued warrants to purchase
90,000 shares of Series C Preferred Stock and 90,000 shares of Series C Preferred Stock to Glaxo
and warrants to purchase 110,000 and 110,000 shares of Series C Preferred Stock to SKB. One of the
warrants to purchase 90,000 shares of Series C Preferred Stock issued to Glaxo and one of the
warrants to purchase 110,000 shares of Series C Preferred Stock issued to SKB expired pursuant to
their terms and are not shown as outstanding in the Agreement.

     The Company entered into various agreements with Lighthouse Capital Partners V, L.P.
(“Lighthouse”) as described in Section 2.14 below. In connection with these transactions, the
Company borrowed $13,000,000 under the loan and security agreement and issued a warrant to
Lighthouse to purchase 371,428 shares of the Company’s Series D Preferred Stock. As of September
30, 2007, the Company owed approximately $9,601,037 under the notes.

     The Company is a party to a License Agreement between the Company and the California Institute
of Technology (“Caltech”) dated May 1, 2000, which was amended and restated in June 2002 effective
as of May 1, 2002, further amended in June 2003, with a restatement date of May 1, 2004, as further
amended March 29, 2007 (collectively, the “Caltech License Agreement”). Pursuant to the Caltech
License Agreement, the Company was obligated on an annual basis to issue to Caltech 50,000 shares
of the Company’s Common Stock on each occasion that the Company determined to add patent rights to
the license.

     The Company and Biomedical Sciences Investment Fund Pte Ltd. (“BMSIF”) are parties to a
Convertible Note Purchase Agreement dated as of December 18, 2003, as amended by Amendment No. 1 to
Convertible Note Purchase Agreement dated December 17, 2004 and as further amended by a letter
agreement dated June 30, 2005 (collectively, the “CNPA”). Pursuant to the CNPA, the Company
issued a Convertible Promissory Note, as amended by Amendment to Convertible Promissory Note dated
December 17, 2004, and as further amended by Amendment No. 2 to Convertible Promissory Note dated
June 30, 2005 (collectively, the “Note”) to BMSIF in exchange for $2,000,000. In December 2005,
upon the successful completion of certain specified milestones by the Company, the principal amount
of and the accrued interest under the Note were converted into 832,635 shares of Series D Preferred
Stock at a conversion price per share of $2.80.

     In addition, as a result of the Company’s achieving of such specified milestones, the Company
has required BMSIF to purchase an additional convertible promissory note (the “Supplemental Note”)
in the aggregate principal amount of $3,000,000 on June 20, 2006.

     The principal amount of and interest on the Supplemental Note was convertible into shares of
Series D Preferred Stock of the Company at a conversion price of $2.80 per share (subject to
adjustment) upon the earlier of an initial public offering in connection with which the Company’s

 

 

Preferred Stock has converted into Common Stock or the satisfaction of certain specified
milestones. In addition, BMSIF may electively convert the Supplemental Note into shares of Series
D Preferred Stock at any time. The principal amount and interest under the Supplemental Note could
not be prepaid except under limited circumstances. In July, 2007 upon completion of certain
specified milestones by the Company, the principal amount of and the accrued interest under the
Supplemental Note were converted into 1,157,142 shares of Series D Preferred Stock at a conversion
price per share of $2.80.

     The Company and Invus, L.P. are parties to a Convertible Note Agreement dated December 18,
2003, as amended by Amendment No. 1 to Convertible Note Agreement executed in November 2005 (the
“CNA”). The CNA provides that in the event the Company issues to BMSIF Supplemental Notes in the
aggregate principal amount of $3,000,000 upon the happening of certain events, Invus has the right
to purchase a convertible promissory note in the principal amount of $3,000,000 (the “Invus Note”)
from the Company. Recently, Invus, L.P. and the Company decided not to issue the Invus Note.

     The Company and BMSIF entered into a Convertible Note Purchase Agreement, dated as of August
7, 2006, as amended by that certain Letter Agreement dated November 15, 2006 and as further amended
by that certain Letter Agreement dated January 31, 2007 (as amended, the “2006 CNPA”). The 2006
CNPA permits the Company to borrow up to $15 million in three $5 million tranches, subject to
availability based on the achievement of specified milestones. The Company has sold and issued to
BMSIF all three convertible promissory notes, each in the principal amount of $5 million. The
initial two convertible promissory notes converted into 1,460,730 and 1,493,607 shares of Series E
Preferred Stock on March 31, 2007. Upon conversion of the second convertible promissory note,
BMSIF purchased the third (and final) convertible promissory note in the principal amount of $5
million.

     In March 2003, the Company entered into (i) a Master Closing Agreement (the “Master Closing
Agreement”) with Oculus Pharmaceuticals, Inc. (“Oculus”) and the University of Alabama Research
Foundation (“UABRF”); (ii) a License Agreement with UABRF; and (iii) a Sponsored Research Agreement
with UABRF. The Company is obligated to issue up to $2,100,000 of additional shares of its stock
to UABRF in connection with the satisfaction of certain milestones. If the Company is a private
Company at the time a milestone is achieved, upon achievement of a milestone, the Company is to
issue shares of the series of Preferred Stock that was issued in the Company’s most recent
financing and the shares are to be valued at the price the shares were sold in such financing. If
the Company is a public company at the time a milestone is achieved, upon achievement of a
milestone, the Company is to issue shares of Common stock valued at the average closing price of
the Company’s Common Stock over the five trading days preceding the achievement of the milestone.
In February 2005, UABRF sent a letter to the Company requesting issuance of the shares in relation
to the milestones. The Company replied in writing that the milestones had not been satisfied and
that it had no obligation to issue the shares at that time. The Company achieved a milestone in
2006 and as a result issued $600,000 worth of shares of its Series D Preferred Stock to UABRF and
other designated parties. Following the satisfaction of the milestone, the parties have been
negotiating the Company’s continuing obligations, if any, under the agreements identified above,
which may include an obligation on the part of the Company to issue additional shares of its stock
to UABRF.

     The Company is party to an offer letter with Richard DeLateur, the Company’s Chief Financial
Officer, which provides that in the event of a Change of Control (as defined in the offer letter)
50% of the shares subject to the option granted to Mr. DeLateur in connection with his acceptance
of

 

 

employment with the Company that are unvested at the time of such Change of Control shall
become immediately vested.

     The Company has approved an issuance of 6,000 shares of the Company’s Common Stock to Stanford
University. Such issuance has not been completed.

     See Section 2.10(f) regarding Dr. Stephen R. Quake.

     2.7 Government Consents

     The Company makes no representation or warranty with respect to any consent, approval, order
or authorization of, or registration, qualification, designation, declaration or filing with any
foreign governmental entity and has assumed for purposes of the Agreement that none of the
foregoing is required.

     2.8 Litigation

     See Section 2.10(a).

     The Company has received a letter from a supplier of certain materials used in the Company’s
Topaz and certain other products requesting that the Company cease and desist using a lid with the
materials or obtain a license from the supplier for using the design of the lid. Upon
investigation, the Company determined that it had developed the lid design independently from the
supplier and also began developing alternates to the materials, which are currently approved for
manufacturing. The Company wrote a letter explaining these opinions to the supplier and the
parties have been in negotiations regarding this matter resulting in the supplier providing a
proposed settlement agreement with a $55,000 buy-out option for the Company and the Company replied
with a revised draft settlement agreement. The Company is currently waiting for the supplier to
comment on the revised draft settlement agreement.

     2.9 Employees

     William Smith, the Company’s general counsel, is currently working for the Company and also
remains a partner at Townsend and Townsend and Crew LLP. Mr. Smith serves on the Board of
Directors of two private companies, Theracos Corporation and Arbor Vita Corporation.

     Richard DeLateur, the Company’s Chief Financial Officer, currently works four days a week and
it is anticipated that Mr. DeLateur’s service will decrease and his employment with the Company
will terminate. Mr. DeLateur and the Company do not have a schedule for the eventual termination
of Mr. DeLateur’s employment.

     2.10 Patents and Other Intangible Assets

     2.10(a)

     The Company has rights to the patents, trademarks and applications listed on Schedule
2.10 attached hereto, although some of the patent rights listed may not currently be being
utilized by the Company in, and may not be necessary for, the Company’s business as now conducted.
The Company’s registered domain names are fluidigm.com, fluidigm.net, fluidigm.biz, fluidigm.info
and mycometrix.com.

 

 

     The Company currently is selling two product lines: (i) the Topaz crystallization
microprocessors (also referred to as Integrated Fluidic Circuits or IFCs) and certain associated
apparatuses; and (ii) the BioMark System, including certain IFCs, such as Dynamic Array chips,
Digital Array chips (also referred to as DID chips) and ImmunoMatrix chips, as well as certain
associated apparatuses. The Company has not completed investigations with respect to the
Intellectual Property Rights required for the BioMark System product line or for additional
applications of the Company’s technology. In conjunction with this analysis, the Company has
sought and will continue to seek opinions from counsel with respect to potentially relevant third
party patent rights directed to, e.g., certain RealTime PCR and other PCR reagents and instruments,
such as assigned to Roche Molecular Systems and/or Applied BioSystems, an Applera Corporation
Business. The Company, therefore, may need to acquire additional Intellectual Property Rights to
pursue those lines of business, particularly with respect to microfluidic devices for PCR and other
assays, although the Company has not presently determined that blocking Intellectual Property
Rights of others exist in this regard.

     The Company has entered into a Collaboration Agreement dated January 24, 2005 (the “CTI
Collaboration Agreement”) with CTI Molecular Imaging, Inc. (subsequently acquired by Siemens)
(“CTI”), under which the parties are to develop microfluidic chips and associated apparatuses for
use in positron emission tomography (“PET”). Under the CTI Collaboration Agreement, both CTI and
the Company have granted licenses to the other as necessary to conduct the research and development
program contemplated by the CTI Collaboration Agreement. The Company has also granted CTI an
option under certain of the Company’s intellectual property to manufacture chips developed during
the collaboration. The Company also has rights to intellectual property developed under the
Collaboration Agreement, subject to certain restrictions under which CTI and certain other
collaborating entities have specified rights in the defined PET and associated fields. Recently,
Siemens notified the Company that it does not intend to exercise the option or continue the
research and development program. Discussions are underway relating to the early termination of
the Collaboration Agreement, and for the Company to obtain all rights to intellectual property
developed under the CTI Collaboration Agreement, including intellectual property rights arising
from (i) a patent application filed by Siemens and Caltech in which the Company believes that
certain Company scientists should have been named as co-inventors; (ii) additional patent
applications in the PET field allegedly filed by or on behalf of Siemens potentially with Caltech
inventors; and (iii) CTI activities with third parties. The Company and Siemens have agreed
starting in 2007 to not engage in further funded research under the CTI Collaboration Agreement.

     The Company is licensee under a series of agreements with the President and Fellows of Harvard
College, under which the Company pays royalties to Harvard. The Company renegotiated the terms of
its agreements with Harvard and reduced the number of licenses from five to three, effective in
January 2005. The Company and Harvard will be discussing potential royalty obligations of the
Company to Harvard relating to transactions where the Company has received revenue but has not
directly charged for product transfers, such as for certain microfluidic chips.

     In January 2003, the Company entered into a Patent License Agreement with Gyros pursuant to
which the Company received a non-exclusive license to certain patents from Gyros relating to the
Company’s products. In exchange for the license, the Company has made certain payments to Gyros.
In January 2004, the Company exercised an option to add an additional field of use to the scope of
the license agreement in exchange for a cash payment. In January 2007, the Company did not elect
or pay for another additional field for, e.g., ImmunoMatrix chips, for which the Company has
conducted and is continuing to conduct research and development activities. The Company and Gyros
have had discussions regarding the extension of the field and Gyros has offered such extension
pursuant to the terms of the Patent License Agreement. In addition, the Company is obligated to
make royalty

 

 

payments on certain Company products incorporating the technology licensed from Gyros. The
amounts otherwise paid by the Company may be used as a credit with respect to the royalty payments.
The agreement provides for certain indemnity obligations of the Company.

     With respect to certain patent filings then-controlled by Oculus Pharmaceuticals with
overlapping claims to the Syrrx patent referred to in the paragraph below, the Company entered into
in March 2003 (i) the Master Closing Agreement; (ii) a License Agreement with UABRF (the “UABRF
License Agreement”); and (iii) a Sponsored Research Agreement with UABRF. The license is an
exclusive license, subject to certain exceptions (including rights UABRF may have previously
granted Diversified Scientific, Inc. so that Diversified Scientific could perform research
obligations under grants). UABRF and affiliated entities have the right to internal use of the
intellectual property rights and to fulfill obligations under a National Institutes of Health
grant. Pursuant to the Master Closing Agreement, the Company made an up-front payment to UABRF and
granted UABRF shares of the Company’s Series C Preferred Stock. The Company is obligated to issue
additional shares of its stock to UABRF in the event certain milestones are achieved as described
in Section 2.4 hereof. In connection with the satisfaction of a milestone, the Company may become
obligated to enter into a non-transferable site license so that an entity will have the right to
use the technology licensed to the Company for internal drug discovery efforts. Pursuant to the
Sponsored Research Agreement, the Company agreed to support a UABRF research program. The
Sponsored Research Program Agreement contains certain terms relating to the license of intellectual
property rights arising out of the program. The Company has certain indemnification obligations
pursuant to the agreements referred to in this paragraph.

     In conjunction with the development of the Company’s protein crystallization microprocessor
prototype, the Company became aware of U.S. Patent no. 6,296,673, issued to the Regents of the
University of California (the “Regents”) and apparently exclusively licensed to Syrrx Corporation
(note: Sam Colella of Versant Ventures, Chairman of the Company’s Board of Directors, used to be
Chairman of Syrrx, which has been acquired by Takeda Pharmaceutical Company Limited). Based on
Syrrx’s contentions of infringement with respect to the patent, related patent applications and the
Company’s products, the Company has sought and obtained a patent opinion from counsel with respect
to the patent and entered into license negotiations with Syrrx for a license/sublicense to the
patent and other patent filings assigned to the Regents and Syrrx. In December 2003, the Company
entered into a license agreement with Syrrx (the “Syrrx License Agreement”), pursuant to which, in
exchange for a field restricted and nonexclusive license under intellectual property owned or
controlled by Syrrx, the Company issued Syrrx shares of the Company’s Common Stock, made an
up-front payment and annual minimum payments. In addition, the Company is obligated to pay a
royalty in connection with the sale of certain products of the Company that incorporate the
intellectual property licensed and is obligated to indemnify Syrrx for matters relating to the
practice by the Company of any license or sublicense under the agreement. In January 2006, an
interference was declared by the USPTO between a patent application licensed to the Company under
the UABRF License Agreement and the above-identified patent and other related patents. While the
interference was ongoing, the Company, Syrrx, UABRF and Athersys, Inc. (a company that allegedly
acquired certain rights from Oculus) were in negotiations to settle the interference and modify the
parties’ obligations under the Syrrx License Agreement, the Master Closing Agreement, and the UABRF
License Agreement. Recently, in an appealable decision, the USPTO invalidated all claims of both
parties in the interference, and Syrrx decided not to appeal. Due to this decision and these
negotiations, the Company may decide not to maintain the Syrrx License Agreement in 2008.

     The Company is aware of patents and patent applications controlled by Micronics Corporation
and Diversified Scientific, Inc. that potentially relate to the Company’s protein crystallization
product

 

 

line. The Company has sought and obtained opinions from patent counsel regarding such patents
and has conducted preliminary discussions with each of these entities regarding the possibility of
obtaining a license to the relevant intellectual property. The necessity of obtaining a license
from each and the outcome of such negotiations remain uncertain although in certain Micronics
patent applications watched by the Company, the claims have been amended to not cover the Company’s
protein crystallization product line. In February 2005, Diversified Scientific announced a plan to
auction its recently broadened (by USPTO re-examination) patent and other intellectual property
related to crystal image analysis. The Company indicated interest to Diversified Scientific in
submitting a bid. Diversified Scientific replied that it would respond to the Company and
additional interested bidders after checking with their counsel on certain legal issues relating to
the apparently improper broadening of patents by re-examination. The Company has not received a
further response from Diversified Scientific.

     With respect to the patents and patent filings described in the foregoing paragraph, those
relating to the BioMark System described above and those not subject to the CTI Collaboration
Agreement, there can be no assurance that the Company will be able to obtain licenses on terms
acceptable to the Company. In addition, there can be no assurance that the holders of such patents
or patent filings will not initiate and prevail in litigation against the Company with respect to
the patents or patent filings.

     The Company routinely investigates patents held by third parties to determine whether there
may be any conflict with the Company Intellectual Property Rights. While such investigations are
ongoing, the Company is not currently aware of any conflict except as disclosed herein.

     With respect to certain microfluidics protein crystallization technology licensed to the
Company from Caltech, a University of California scientist, Dr. James Berger, is a co-inventor of
this technology along with certain Caltech scientists. Therefore, the Regents of the University
of California own certain rights in the invention which the Company understands have been licensed
to Caltech. The Company has sublicensed these rights from Caltech. As the Company is a
sublicensee, if Caltech’s license from the Regents were to be revoked or terminated for any reason,
the Company’s ability to practice and license this technology internationally would be subject to
certain limitations.

     See also the discussion of the possible new collaboration agreement in Section 2.17 below, the
Company’s license agreement with Caltech in Section 2.10(b) below and the discussion of the
Company’s letter from a supplier in Section 2.8 above.

     2.10(b)

     See Section 2.10(a) above and Schedule 2.10 attached hereto. In addition, in
connection with sales of the Company’s products, the Company’s standard terms and conditions
include limited licenses to use the Company’s products, including licenses to the Company’s
software. The Company also has entered into (i) several prototype and other evaluation agreements
and material transfer agreements with third parties, which agreements provide for the third party’s
use of the Company’s products for a limited period of time typically in return for grant-back
licenses to the Company of improvements, and (ii) material transfer agreements in which the parties
may assign to each other certain intellectual property rights. The Company has sold BioMark System
prototypes and products and is entering into agreements with respect to additional sales,
evaluations and development agreements relating to the BioMark System. The Company typically
negotiates either standstill, grant-back or other rights to certain inventions made by the Company
or third parties using the prototypes. The Company intends to continue to negotiate collaboration
or other agreements with third parties.

 

 

     The Exclusive Patent License Agreement dated November 2, 2000 with the Regents listed in
Schedule 2.10 requires the Company to make efforts to commercialize products relating to
the technology licensed to the Company. The Regents sent the Company a notice of termination of
the agreement in part due to the alleged failure of the Company to make such efforts. The Regents
rescinded the notice of termination and the Company intended to renegotiate the agreement to modify
the requirement that the Company make efforts to commercialize the technology. The Company has
received a request from the Regents for reports and diligence relating to the agreement. The
Company and Regents agreed to terminate the agreement with no further obligations of either party.

     In connection with entering into the most recent amendment to the Caltech License Agreement,
and in response to a request from Caltech, the Company terminated its license of certain patent
rights that it deemed not material to the Company’s business as currently conducted in exchange for
a cash payment from Caltech and a reduction in the Company’s potential obligation to issue stock to
Caltech. The Company understands that Caltech has licensed these patent rights to another entity,
Helicos Biosciences Corporation. Dr. Steve Quake, a former director of and former consultant to
the Company, co-founded Helicos, and Versant Ventures, a significant investor in the Company, is
also a significant investor in Helicos. The Company believes that a conflict could exist between
the license Caltech granted to Helicos and Caltech’s license of patent rights to the Company, if
Caltech’s license with Helicos does not specifically exclude the patent rights granted to the
Company. The patent rights licensed from Caltech to Helicos include a cross-reference to, and
disclosure relating to, the patent rights the Company licenses from Caltech. Effective April 23,
2007, as amended May 11, 2007, the Company executed an Intellectual Property Agreement with Caltech
and Helicos.

     2.10(c)

     See discussions in Sections 2.10(a) and (b) above.

     2.10(d)

     The Company utilizes certain inventions developed by Steve Quake (See discussions in Section
2.10(f) below) prior to the formation of the Company and the inventions of certain employees
developed while they were working or studying at Caltech. The Company has rights to these
inventions pursuant to its license agreements with Caltech described in Schedule 2.10
attached hereto.

     See discussion in Section 2.9 relating to William Smith. Townsend and Townsend and Crew LLP
from time to time provides legal services to Caltech and other parties with whom the Company has
business relationships.

     2.10(e)

     See discussion in Section 2.10(b).

     Steve Quake and certain employees of the Company who previously worked at or studied at
Caltech have a right, pursuant to their agreements with Caltech, to receive a portion of the
royalties Caltech receives under its license agreements with the Company described in Schedule
2.10 attached hereto.

     The Company has license agreements with shareholders of the Company. Those license agreements
are listed on Schedule 2.10 attached hereto.

 

 

     The Company’s employees have executed proprietary information and invention assignment
agreements in favor of the Company. The Company has executed consulting agreements with its
consultants and non-disclosure agreements with third parties.

     From time to time university collaborators may be on the Company’s premises conducting
research with the Company’s chips. The Company typically does not enter into agreements relating
to these arrangements. The Company has entered into an agreement with a collaborator from Regents.

     2.10(f)

     See discussion in Sections 2.10(a), 2.10(b) and Section 2.10(e).

     The Company’s rights with respects to the research and development efforts of Steve Quake are
limited to those rights it has obtained through its licenses with Caltech described in Schedule
2.10 attached hereto and its consulting agreement with Steve Quake. As Dr. Quake has
transferred to Stanford University effective in early 2005, the Company negotiated with Caltech to
modify the Company’s right to receive license rights from the Quake laboratory at Caltech. The
Company also has negotiated a Material Transfer Agreement with Stanford University to obtain, for a
limited term, license rights to certain inventions made by the Quake laboratory at Stanford
University and is in negotiations for additional such agreements. Dr. Quake has been appointed an
investigator by the Howard Hughes Medical Institute (“HHMI”). In connection with such appointment,
Dr. Quake’s affiliation with the Company (including, without limitation, stock ownership and status
as a member of the Board of Directors of the Company) and the Company’s rights to inventions from
the Quake laboratory at Stanford University and Caltech have been eliminated or substantially
curtailed. The Company has negotiated a new consulting agreement with Dr. Quake in accordance with
HHMI guidelines; such consulting agreement provides for certain guaranteed payments over a
multi-year time period. In addition, Dr. Quake has resigned from the Company’s Board of Directors
and on June 5, 2006 the Company has repurchased 123,974 shares of Dr. Quake’s Common Stock holding
in the Company to comport with HHMI guidelines.

     2.10(h)

     The Company notes that it has given the opportunity to the Purchasers to conduct any due
diligence investigation that such Purchasers deemed necessary and has provided each Purchaser with
all of the information that such Purchaser has requested.

     2.11 Compliance with Other Instruments

     See discussions in Section 2.10(a) regarding the Syrrx License Agreement and in Section
2.10(b).

     2.12 Permits

     The Company’s subsidiary in Singapore has applied for various permits relating to the conduct
of business in Singapore, some of which may not been granted.

     2.13 Environmental and Safety Laws

     The Company has received the following environmental reports pertaining to property that the
Company leases.

 

 

	 	1.	 	ENVIRONMENTAL DUE DILIGENCE REVIEW OF THE SIERRA POINT ASSOCIATES
TWO PROPERTIES BRISBANE AND SOUTH SAN FRANCISCO, CALIFORNIA, dated February 4,
1998, prepared by ENVIRON Corporation, Emeryville, California
	 
	 	2.	 	UPDATE OF ENVIRONMENTAL DUE DILIGENCE REVIEW, PARCEL 10,
SHORELINE COURT, SIERRA POINT, SOUTH SAN FRANCISCO, CALIFORNIA, dated December
14, 1998, prepared by Harding Lawson Associates, Novato, California
	 
	 	3.	 	FIRST AMENDED AND RESTATED DECLARATION OF COVENANTS, CONDITIONS
AND ENVIRONMENTAL RESTRICTIONS RELATING TO ENVIRONMENTAL COMPLIANCE FOR SIERRA
POINT, dated August 5, 1999, recorded by Luce, Forward, Hamilton and Scripps,
San Diego, California
	 
	 	4.	 	SUPPLEMENTAL ENVIRONMENTAL DUE DILIGENCE, PARCEL 10, SHORELINE
COURT, SIERRA POINT, SOUTH SAN FRANCISCO, CALIFORNIA, dated August 24, 1999,
prepared by Harding Lawson Associates, Novato, California

     Each of the reports has been made available to the Purchasers. The Company has not
investigated any of the matters contained in the reports.

     2.14 Title to Property and Assets

     The Company and General Electric Capital Corporation (“GECC”) entered into a Master Security
Agreement (which was amended in February 2004), pursuant to which the Company has borrowed an
aggregate principal amount of $6,230,152 (out of an aggregate available under the Master Security
Agreement of $11,000,000) from GECC pursuant to the terms of the Master Security Agreement and
series of promissory notes. The loans relate to purchases of the Company of certain equipment and
software (subject to certain restrictions). The notes bear interest at rates between 8% and 9% per
annum and are repaid in periodic monthly installments over 42 months from the date of issuance of
each respective promissory note (except with respect to loans relating to computer equipment and
software, which must be paid over 36 months). The Company’s obligations under the notes and Master
Security Agreement are secured by a lien on fixed assets financed with the loans. In addition,
Comerica Bank has issued a letter of credit in the amount of $500,000 for the benefit of GECC as
security for the loans, which is secured by a $500,000 cash account of the Company’s at Comerica
Bank. As of September 30, 2007, the Company owed approximately $1,340,433 under the notes.

     In March 2005, the Company and Lighthouse entered into a Loan and Security Agreement, a
Management Rights letter agreement, a Negative Pledge Agreement and certain other agreements
(collectively, the “Lighthouse Agreements”). Pursuant to the Lighthouse Agreements, the Company
has borrowed $13,000,000 from Lighthouse, $9,601,037 of which was outstanding as of September 30,
2007. The amounts loaned bear interest at the prime rate plus 2.5% and are to be repaid in 48
monthly installments from the execution date of March 2005. Pursuant to the Loan and Security
Agreement, the Company granted Lighthouse a lien on and security interest in all of the Company’s
assets (subject to certain limited exceptions and excluding intellectual property rights (but not
proceeds from the sale thereof) as set forth in the Lighthouse Agreements). Pursuant to the
Negative Pledge Agreement, the Company is generally prohibited from transferring or encumbering
intellectual property and certain other assets. The Lighthouse Agreements contain various
affirmative and negative covenants of the

 

 

Company. In connection with the Lighthouse Agreements, the Company issued to Lighthouse a
warrant as described in Section 2.4 hereof. The Company’s ability to pay amounts that may arise
under convertible promissory notes issued, or that may be issued, to BMSIF and Invus is limited
under the Lighthouse Agreements, and BMSIF and Invus entered into a Subordination Agreement with
Lighthouse (which limits their right to receive payment on the convertible promissory notes).

     The Company has issued letters of credit of $250,000 and $137,527 for security deposits under
the subleases for its headquarters facility in South San Francisco, California (see Section
2.15(b)). In addition, the Company has issued a letter of credit for the benefit of GECC in the
amount of $500,000. These letters of credit are secured by cash accounts of the Company in those
amounts.

     2.15 Agreements; Actions

     2.15(a)

     The Company has been a party to consulting agreements with Lincoln McBride, the Company’s
former Chief Technology Officer and vice president of engineering, and Paul Wyatt, the Company’s
former vice president of Topaz development and operations.

     See 2.10(f) regarding Dr. Steve Quake’s consulting agreements.

     The Company has entered or intends to enter into indemnification agreements with each of the
Company’s existing officers and directors.

     The Company is a party to offer letters with each of its officers.

     The Company has entered into agreements relating to confidentiality and assignment of
inventions with employees and enters into various agreements with employees of its subsidiaries
(including, without limitation, employment agreements) customary in the jurisdiction of
incorporation of the subsidiary.

     The Company and/or a subsidiary of the Company have entered into agreements with third parties
relating to their service on the Board of Directors of subsidiaries of the Company (due to
requirements that a citizen of the place of incorporation of the subsidiary be a member of the
subsidiary’s Board of Directors). Among other things, such agreements contain provisions relating
to indemnification.

     The Company has entered into a letter agreement with Marc Unger, an employee, regarding Mr.
Unger’s ownership of shares and options to purchase shares of the Company’s Common Stock.

     In connection with the October 2001 Series C Preferred Stock financing, the Company entered
into letter agreements with GE Equity Capital Investments, Inc., containing certain confidentiality
and indemnification provisions and with Piper Jaffray Healthcare Venture Fund III, L. P. providing
for certain matters with regard to the Small Business Investment Act.

     In January 2004, the Company lent Gajus V. Worthington, the Company’s Chief Executive Officer,
$250,000 to be used in connection with Mr. Worthington’s purchase of a residence. The loan bears
interest at a rate of 3.52% per annum and the principal and interest are not due and payable for 7
years after the date of the loan (or earlier upon the happening of certain events). The loan is
secured by 833,334 shares of the Company’s Common Stock, which are the only recourse of the Company
in the event of a default under the loan. The number of shares of Common Stock that secure the
loan is

 

 

subject to reduction at Mr. Worthington’s election in the event that fair market value of the
Company’s Common Stock (as determined by the Company’s Board of Directors) exceeds the outstanding
principal and interest due under the loan.

     See Sections 2.4 and 2.15(b) below relating to agreements with BMSIF.

     2.15(b)

     See Schedule 2.10 attached hereto and discussion in Section 2.10. Each of the
agreements described or listed on Schedule 2.10 or in Section 2.10 may involve payments or
obligations in excess of $100,000 and/or the license of proprietary rights.

     See Section 2.14 regarding the GECC and Lighthouse loans.

     In March 2004, the Company entered into a new sublease agreement with Genome Therapeutics
Corporation (now Oscient Pharmaceuticals) relating to a portion of the Company’s headquarters in
South San Francisco, California. The term of the sublease expires in December 2007. The monthly
rental payments were approximately $70,000 per month between March 2004 through September 2004.
The monthly payments thereafter decreased to approximately $44,000 per month and increased
approximately 3.5% annually beginning January 2006. In addition to these amounts, the Company is
obligated to pay its share of common area maintenance and other costs and taxes.

     In addition to the sublease agreement with Genome Therapeutics, the Company entered into a
second sublease in March 2004 with MJ Research, Inc. (subsequently assigned to Are-San Francisco
No. 17, LLC) relating to an additional portion of the Company’s headquarters in South San
Francisco, California. The term of the sublease expires in December 2007. The monthly rental
payments were approximately $56,000 between April 2004 through December 2004. The monthly payments
thereafter increased to approximately $58,000 per month and further increase annually by
approximately 3.5% beginning in April 2005. In addition to these amounts, the Company is obligated
to pay its share of common area maintenance and other costs and taxes.

     The Company has entered into negotiations to extend each of the above leases from January 2008
to February 2011.

     The Company has entered into leases or subleases relating to its subsidiaries in Osaka, Japan,
Tokyo, Japan, Singapore and Hamburg, Germany, the last of which has terminated.

     See Section 2.4, in particular with respect to the Company and BMSIF in conjunction with the
convertible notes.

     In certain instances, the Company has agreed to indemnify purchasers of the Company’s products
and certain of the Company’s suppliers (such as Eppendorf AG) with respect to infringements of
proprietary rights.

     2.15(e)

     A limited number of the Company’s employees hold corporate purchasing credit cards. The
Company is liable to the credit card company for the amounts charged.

     2.15(f)

 

 

     The Company has from time to time had discussions regarding mergers, acquisitions and sales of
all or substantially all of the assets of the Company.

     2.16 Financial Statements

     The Company has made available unaudited Financial Statements for the periods ended December
31, 2005 and December 31, 2006.

     The unaudited Financial Statements do not contain the footnotes required by generally accepted
accounting principles and are subject to year-end audit adjustments.

     2.17 Changes

     Changes are reflected since December 31, 2007.

     See Section 2.10 and Schedule 2.10 attached hereto.

     The Company has entered into licenses of its intellectual property in the ordinary course of
business.

     The Company may enter into a collaboration agreement related to the development of certain
specialized Dynamic Array chips for a third party that may involve revenue and liabilities in
excess of $100,000, such as for indemnification.

     2.18 Brokers or Finders

     The Company entered into an engagement letter with Leerink Swann & Company, dated August 13,
2007.

     In June 2006, Fluidigm was the recipient of a Small Technology Transfer Innovation Research
(STTR) grant from the National Institutes of Health in the amount of $1,000,000 over two years.
Under the grant, the Company will perform research and development activities to design a
diffraction capable Topaz screening chip.

     2.19 Qualified Small Business Stock

     With respect to the qualification of the Shares as “qualified small business stock” under
Section 1202(c) of the Code, the Company makes the following representations, each as of the date
hereof: (a) the Company is a domestic C corporation, provided that the Company wholly owns non-U.S.
corporate subsidiaries; (b) the Company’s gross assets have not exceeded $50 million in value at
any time through the time immediately following the issuance of the Shares within the meaning of
Section 1202(d); (c) the Company has not made any purchases of its own stock during the one-year
period preceding the Closing with an aggregate value exceeding 5% of the aggregate value of all its
stock as of the beginning of such period, disregarding de minimus redemptions within the meaning of
Treasury Regulation Section 1.1202-2(b)(2); (d) the Company is engaged in a qualified trade or
business as defined in Section 1202(e); and (e) 80% of the Company’s assets are used in the active
conduct of that qualified trade or business.

     2.20 Employee Benefit Plans

     The Company offers health, vision and dental benefits, paid time off and sick leave.

 

 

     The Company’s subsidiaries are subject to certain statutory requirements in their jurisdiction
of incorporation relating to employee benefits. Such requirements differ from requirements in the
United States.

     2.21 Tax Matters

     The Company’s subsidiaries in the Netherlands and Singapore have received extensions to file
tax returns in the respective countries.

     2.24 Disclosure

     The Company notes that it has given the opportunity to the Purchasers to conduct any due
diligence investigation that such Purchasers deemed necessary.

     The Company has provided projections to certain Purchasers at their request. For purposes of
these projections, the Company has assumed, among other things, that the Company is granted tax
incentives and research and development grants in Singapore that are acceptable to the Company and
that the workforce to be employed at the Company’s subsidiary in Singapore is capable of delivering
upon the Company’s plans in Singapore. In addition, the Company’s revenues were lower than the
Company’s plan/forecasts. Moreover, actuals provided are currently under audit and subject to
revision. The Company is unable to predict with any certainty its revenue for any future period,
including the present quarter, and its ability to generate revenue is subject to risks and
uncertainties.

 

 

EXHIBIT D

FORM OF EIGHTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

 

FLUIDIGM CORPORATION

FORM
OF

EIGHTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

June 13, 2006

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	SECTION 1 Restrictions on Transferability; Registration Rights	 	 	1	 
	 
	 	1.1	 	Certain Definitions	 	 	1	 
	 
	 	1.2	 	Restrictions	 	 	4	 
	 
	 	1.3	 	Restrictive Legend	 	 	5	 
	 
	 	1.4	 	Notice of Proposed Transfers	 	 	5	 
	 
	 	1.5	 	Requested Registration	 	 	6	 
	 
	 	1.6	 	Company Registration	 	 	8	 
	 
	 	1.7	 	Registration on Form S-3	 	 	9	 
	 
	 	1.8	 	Expenses of Registration	 	 	10	 
	 
	 	1.9	 	Registration Procedures	 	 	10	 
	 
	 	1.10	 	Indemnification	 	 	12	 
	 
	 	1.11	 	Information by Holder	 	 	14	 
	 
	 	1.12	 	Reports Under Securities Exchange Act of 1934	 	 	14	 
	 
	 	1.13	 	Transfer of Registration Rights	 	 	15	 
	 
	 	1.14	 	Standoff Agreement	 	 	15	 
	 
	 	1.15	 	No Right to Delay Registration	 	 	16	 
	 
	 	1.16	 	Termination of Rights	 	 	16	 
	 
	 	1.17	 	Limitations on Subsequent Registration Rights	 	 	16	 
	SECTION 2 Affirmative Covenants of the Company	 	 	16	 
	 
	 	2.1	 	Delivery of Financial Statements	 	 	17	 
	 
	 	2.2	 	Additional Information Rights	 	 	17	 
	 
	 	2.3	 	Confidentiality	 	 	18	 
	 
	 	2.4	 	Visitation Rights	 	 	18	 
	 
	 	2.5	 	Stock Option Vesting	 	 	18	 
	 
	 	2.6	 	Insurance	 	 	18	 
	 
	 	2.7	 	Proprietary Information Agreements	 	 	19	 
	 
	 	2.8	 	Invention Assignments	 	 	19	 
	 
	 	2.9	 	Key-Man Life Insurance	 	 	19	 
	 
	 	2.10	 	Compliance with Laws	 	 	19	 
	 
	 	2.11	 	Termination of Covenants	 	 	19	 
	SECTION 3 Right of First Offer For Company Securities	 	 	19	 
	 
	 	3.1	 	Right of First Offer	 	 	19	 
	 
	 	3.2	 	Sale of Securities by Company	 	 	20	 
	 
	 	3.3	 	Offer Amount	 	 	20	 
	 
	 	3.4	 	Financing	 	 	20	 
	 
	 	3.5	 	Termination of Right of First Offer	 	 	21	 
	SECTION 4 Right of First Offer with Respect to Founder Shares	 	 	22	 
	 
	 	4.1	 	Notice of Sales	 	 	22	 

-i-

 

TABLE OF CONTENTS
(continued)

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	 
	 	4.2	 	Purchase Right	 	 	22	 
	 
	 	4.3	 	Sale of Securities by Founder	 	 	23	 
	 
	 	4.4	 	Termination and Transfer	 	 	23	 
	 
	 	4.5	 	Prohibited Transfer	 	 	23	 
	SECTION 5 Right of Co-Sale	 	 	23	 
	 
	 	5.1	 	Notice of Sales	 	 	23	 
	 
	 	5.2	 	Participation Right	 	 	24	 
	 
	 	5.3	 	Sale of Securities by Founder	 	 	25	 
	 
	 	5.4	 	Termination and Transfer	 	 	25	 
	 
	 	5.5	 	Prohibited Transfers	 	 	25	 
	SECTION 6 Miscellaneous	 	 	26	 
	 
	 	6.1	 	Governing Law; Jurisdiction	 	 	26	 
	 
	 	6.2	 	Successors and Assigns	 	 	26	 
	 
	 	6.3	 	Notices, Etc	 	 	26	 
	 
	 	6.4	 	Delays or Omissions	 	 	27	 
	 
	 	6.5	 	Third Parties	 	 	27	 
	 
	 	6.6	 	Severability	 	 	27	 
	 
	 	6.7	 	Amendment and Waiver	 	 	27	 
	 
	 	6.8	 	Rights of Holders	 	 	28	 
	 
	 	6.9	 	Counterparts	 	 	28	 
	 
	 	6.10	 	Titles and Subtitles	 	 	28	 
	 
	 	6.11	 	Amendment and Restatement of Prior Agreement	 	 	28	 
	 
	 	6.12	 	Waiver of Right of First Offer	 	 	28	 
	 
	 	6.13	 	Aggregation of Stock	 	 	28	 
	 
	 	6.14	 	Jury Trial	 	 	29	 

-ii-

 

EIGHTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

     THIS EIGHTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT (the “Agreement”) is entered into
as of June   , 2006 by and among Fluidigm Corporation, a California corporation (the “Company”),
the persons set forth on EXHIBIT A hereto (the “New Investors”), the persons set forth on
the Schedule of Founders attached hereto as EXHIBIT B (the “Founders”), and the persons set
forth on EXHIBIT C hereto (the “Prior Investors”). The Prior Investors and the New
Investors are referred to herein collectively as the “Investors.”

RECITALS

     WHEREAS, the Company and the New Investors have entered into a Series E Preferred Stock
Purchase Agreement of even date herewith (the “Purchase Agreement”) pursuant to which the Company
shall sell, and the New Investors shall acquire, shares of the Company’s Series E Preferred Stock;

     WHEREAS, the Company has granted certain registration rights and other rights to the Founders
and the Prior Investors pursuant to that certain Seventh Amended and Restated Investor Rights
Agreement dated August 16, 2005 (the “Prior Agreement”); and

     WHEREAS, as an inducement to the New Investors to purchase shares of the Company’s Series E
Preferred Stock pursuant to the Purchase Agreement, the Company, the Prior Investors and the
Founders desire to amend and restate the Prior Agreement to allow the New Investors to become a
party to this Agreement.

     NOW, THEREFORE, in consideration of the mutual promises and covenants hereinafter set forth,
the parties agree as follows:

SECTION 1

Restrictions on Transferability; Registration Rights

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

          “Affiliate” shall have the meaning set forth in Rule 405 of the Securities Act;
provided that for AllianceBernstein L.P. and its permitted transferees, the
definition of “Affiliate” shall also include (i) any general partner, officer or director of such
person, (ii) any private equity or venture capital fund now or hereafter existing (a “Fund”) for
which such person or an Affiliate of such person is a general partner or management company, and
(iii) if such person is a Fund, any other Fund that is directly or indirectly controlled by or
under common control with one or more general partners of such person, or that shares the same
management company with such person or an Affiliated management company.

 

 

          “Commission” shall mean the Securities and Exchange Commission or any other federal agency at
the time administering the Securities Act.

          “Eligible Securities” shall mean (i) the Series A Preferred Stock issued pursuant to the
Series A Preferred Stock Purchase Agreement dated December 1, 1999; (ii) the Series B Preferred
Stock issued pursuant to the Series B Preferred Stock Purchase Agreement dated July 5, 2000; (iii)
the Series C Preferred Stock issued pursuant to the Series C Preferred Stock Purchase Agreement
dated October 23, 2001; (iv) the Series C Preferred Stock issued pursuant to the Series C Preferred
Stock Purchase Agreement dated November 1, 2002; (v) the Series C Preferred Stock issued pursuant
to the Series C Preferred Stock and Warrant Purchase Agreement dated September 22, 2003; (vi) the
Series D Preferred Stock issued pursuant to the Series D Preferred Stock Purchase Agreement dated
December 18, 2003; (vii) the Series D Preferred Stock issued pursuant to the Series D Preferred
Stock Purchase Agreement dated August 16, 2005; (viii) the Series D Preferred Stock issued upon
conversion of convertible promissory note(s) issued pursuant to the Convertible Promissory Note
Purchase Agreement (the “CNPA”) dated December 18, 2003, as amended by Amendment No. 1 to
Convertible Note Purchase Agreement dated December 17, 2004, between the Company and Biomedical
Sciences Investment Fund Pte Ltd (the “BMSIF”); (ix) the Series D Preferred Stock issued upon
conversion of convertible promissory note(s) issued in connection with the Convertible Note
Agreement (the “CNA”) dated December 18, 2003, between the Company and Invus, L.P. (the “Invus”);
(x) the Series E Preferred Stock issued pursuant to the Purchase Agreement; (xi) all Securities
acquired by any Investor pursuant to the rights of first offer described in Sections 3 or 4 of this
Agreement; and (xii) any Securities issued with respect to the foregoing upon any stock split,
stock dividend, recapitalization, or similar event or upon any exercise or conversion, as
applicable.

          “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, or any similar
federal statute, and the rules and regulations of the Commission thereunder, all as the same shall
be in effect at the time.

          “Founders Shares” shall mean the shares of Common Stock of the Company issued to the Founders
as of the date of this Agreement or at any time in the future.

          “Holder” shall mean (i) any Investor and any person to whom registration rights under this
Agreement have been transferred in accordance with Section 1.13 hereof, (ii) for the purposes of
Section 1.6 (and other portions of this Section 1, to the extent they relate to rights of
registration under Section 1.6), any Founder or holder of Other Shares and (iii) for the purposes
of Sections 1.5, 1.6 and 1.7 (and other portions of this Section 1, to the extent they relate to
rights of registration under Sections 1.5, 1.6 and 1.7), Warrantholders.

          “Initial Public Offering” shall mean the first sale of Securities of the Company pursuant to
an effective registration statement under the Securities Act.

          “Initiating Holders” shall mean Holders who in the aggregate hold a majority of the
Registrable Securities then held by Holders assuming conversion or exercise, as applicable, of all
Eligible Securities.

-2-

 

          “Lighthouse Preferred Warrant” shall mean the Preferred Stock Purchase Warrant dated March 29,
2005, pursuant to which Lighthouse Capital Partners V, L.P. (“Lighthouse”) may purchase shares of
the Company’s authorized Series D Preferred Stock.

          “Other Shares” shall mean the shares of Common Stock of the Company issued pursuant to the
Common Stock Purchase Agreements dated July 17, 2001 and February 2005 by and between the Company
and President and Fellows of Harvard College.

          “Permitted Transferee” shall mean (i) any general partner or retired general partner of any
Holder which is a partnership; (ii) any family member of a Holder or trust for the benefit of any
individual Holder; (iii) any Investor; (iv) an Affiliate of an Investor; or (v) any transferee who
acquires at least 40,000 shares of Eligible Securities.

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

          “Registration Expenses” shall mean all expenses incurred by the Company in complying with
Sections 1.5, 1.6 and 1.7 hereof, including, without limitation, all registration, qualification,
stock exchange and filing fees, printing expenses, escrow fees, fees and disbursements of counsel
for the Company and accountants and other persons retained by or for the Company (including the
fees of one counsel for the Holders, not to exceed $25,000), blue sky fees and expenses, accounting
fees and the expense of any special audits incident to or required by any such registration (but
excluding the compensation of regular employees of the Company which shall be paid in any event by
the Company).

          “Registrable Securities” means (i) any shares of Common Stock which are Eligible Securities,
(ii) any shares of Common Stock issuable upon the exercise or conversion, as applicable, of
Eligible Securities, (iii) for the purposes of Section 1.6 (and other portions of this Section 1,
to the extent they relate to rights of registration under Section 1.6) any shares of Common Stock
which are Founder Shares or Other Shares, and (iv) for the purposes of Sections 1.5, 1.6 and 1.7
(and other portions of this Section 1, to the extent they relate to rights of registration under
Sections 1.5, 1.6 and 1.7) any shares of Common Stock which are Warrant Shares; provided,
however, that shares of Common Stock shall be treated as Registrable Securities only if and
so long as they have not been (A) sold to or through a broker or dealer or underwriter in a public
distribution or a public securities transaction, (B) sold in a transaction exempt from the
registration and prospectus delivery requirements of the Securities Act under Section 4(1) thereof
so that all transfer restrictions and restrictive legends with respect thereto are removed upon the
consummation of such sale or (C) sold in a transaction in which the rights granted under this
Section 1 are not assigned in accordance with this Agreement.

          “Restricted Securities” shall mean the securities of the Company required to bear the legends
set forth in Section 1.3 hereof.

-3-

 

          “Securities” shall mean shares of, or securities convertible into or exercisable for any
shares of, any class of capital stock of the Company.

          “Securities Act” shall mean the Securities Act of 1933, as amended, or any similar federal
statute and the rules and regulations of the Commission thereunder, all as the same shall be in
effect at the time.

          “Selling Expenses” shall mean all underwriting discounts and selling commissions and
applicable to the securities registered by the Holders and any fees and disbursements of counsel
for the Holders not included in the definition of Registration Expenses.

          “Voting Agreement” shall mean the Second Amended and Restated Voting Agreement dated August
16, 2005 among the Company and certain stockholders of the Company.

          “Warrant Shares” shall mean the shares of Common Stock of the Company issued or issuable upon
conversion of the (i) Series C Preferred Stock issued or issuable upon exercise or conversion of
(A) the warrant to purchase up to 17,500 shares of Series C Preferred Stock issued to TBCC Funding
Trust II (“TBCC”) pursuant to the Master Loan and Security Agreement dated March 27, 2002 by and
between the Company and Transamerica Technology Finance Corporation; (B) the warrant to purchase
up to 31,008 shares of Series C Preferred Stock issued to General Electric Capital Corporation (“GE
Capital”) in connection with the Master Security Agreement dated as of November 8, 2002, as amended
(the “Master Security Agreement”) by and between the Company and GE Capital; (C) the warrants to
purchase an aggregate of up to 90,000 shares of Series C Preferred Stock issued to Glaxo Group
Limited (“GGL”) in connection with the Development Collaboration and License Agreement dated
September 22, 2003 (the “License Agreement”); and (D) the warrants to purchase an aggregate of up
to 110,000 shares of Series C Preferred Stock issued to SmithKline Beecham Corporation (“SBC”) in
connection with the License Agreement; and (ii) the Series D Preferred Stock issued or issuable
upon exercise or conversion of (A) the warrant to purchase up to 37,500 shares of Series D
Preferred Stock dated March 18, 2004 and issued to GE Capital in connection with extensions of
credit to the Company; (B) the warrant to purchase up to 380,556 shares of Series D Preferred Stock
dated June 30, 2004 and issued to In-Q-Tel, Inc. (“In-Q-Tel”); (C) the Lighthouse Preferred
Warrant; and (D) the warrant to purchase up to 126,851 shares of Series D Preferred Stock dated
June 30, 2004 and issued to In-Q-Tel Employee Fund, LLC (“Employee Fund”) . GGL, SBC, TBCC, GE
Capital, In-Q-Tel, Employee Fund, and Lighthouse are collectively referred to herein as
“Warrantholders.”

          “Worthington Shares” shall mean the Founder Shares issued to Gajus Worthington.

          1.2 Restrictions. No Restricted Securities shall be sold, assigned, transferred or
pledged except upon the conditions specified in this Agreement. Each Holder will cause any
proposed purchaser, assignee, transferee or pledgee of its Restricted Securities to agree in
writing to
take and hold such securities subject to the provisions and upon the conditions specified in
this Agreement, including, without limitation, Section 1.14, except where such Restricted
Securities would cease to be Restricted Securities in connection with such proposed purchase,
assignment, transfer or pledge.

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          1.3 Restrictive Legend. Each certificate representing Registrable Securities shall
(unless otherwise permitted by the provisions of Section 1.4 below) be stamped or otherwise
imprinted with a legend in the following form (in addition to any legend required under applicable
state securities laws):

“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”). SUCH SHARES MAY NOT BE SOLD, TRANSFERRED OR PLEDGED IN THE
ABSENCE OF SUCH REGISTRATION OR UNLESS THE COMPANY RECEIVES AN OPINION OF COUNSEL
(WHICH MAY BE COUNSEL FOR THE COMPANY), OR OTHER EVIDENCE, REASONABLY ACCEPTABLE TO
IT STATING THAT SUCH SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS
DELIVERY REQUIREMENTS OF THE SECURITIES ACT.”

“THE SHARES REPRESENTED BY THIS CERTIFICATE MAY BE TRANSFERRED ONLY IN ACCORDANCE
WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE SHAREHOLDER, A COPY OF
WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.”

“THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A MARKET STAND-OFF
AGREEMENT IN THE EVENT OF A PUBLIC OFFERING, A COPY OF WHICH IS ON FILE WITH THE
SECRETARY OF THE COMPANY.”

          Each Holder consents to the Company making a notation on its records and giving instructions
to any transfer agent of the Restricted Securities in order to implement the restrictions on
transfer established in this Section 1.

          1.4 Notice of Proposed Transfers. Each Holder of each certificate representing
Restricted Securities, by acceptance thereof, agrees to comply in all respects with the
restrictions on transfer contained in Sections 1.2, 1.3, 1.4 and 1.14 of this Agreement. Solely
for purposes of the foregoing sentence and for the sake of clarification, the term “Holder” shall
also include and the term “Restricted Securities” shall also apply to any Founder, holder of Other
Shares or Warrantholders. Prior to any proposed sale, assignment, transfer or pledge of any
Restricted Securities (other than any transfer not involving a change in beneficial ownership),
unless there is in effect a registration statement under the Securities Act covering the proposed
transfer, the Holder thereof shall give written notice to the Company of such Holder’s intention to
effect such transfer, sale, assignment or
pledge. Each such notice shall describe the manner and circumstances of the proposed
transfer, sale, assignment or pledge in sufficient detail, and shall be accompanied at such
Holder’s expense by either (i) a written opinion of legal counsel who shall, and whose legal
opinion shall be, reasonably satisfactory to the Company, addressed to the Company, to the effect
that the proposed transfer of the Restricted Securities may be effected without registration under
the Securities Act and applicable state securities laws, or (ii) a “no action” letter from the
Commission

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to the effect that the transfer of such securities without registration will not result
in a recommendation by the staff of the Commission that action be taken with respect thereto, or
(iii) any other evidence reasonably satisfactory to counsel to the Company, whereupon the Holder of
such Restricted Securities shall be entitled to transfer such Restricted Securities in accordance
with the terms of the notice delivered by the Holder to the Company; provided,
however, that no such legal opinion, “no action” letter or other evidence shall be required
with respect to a transfer to an Affiliate. Each certificate evidencing the Restricted Securities
transferred as above provided shall bear, except if such transfer is made pursuant to Rule 144, the
appropriate restrictive legend set forth in Section 1.3 above, except that such certificate shall
not bear such restrictive legend if, in the opinion of counsel for such Holder and reasonably
acceptable to the Company, such legend is not required in order to establish compliance with any
provisions of the Securities Act or this Agreement.

          1.5 Requested Registration.

               (a) Request for Registration. In case the Company shall receive from Initiating
Holders a written request that the Company effect any registration with respect to a public
offering of at least 50% of the Registrable Securities, the reasonably anticipated aggregate price
to the public of which, net of underwriting discounts and commissions, would exceed $20,000,000,
the Company will:

                    (i) promptly give written notice of the proposed registration to all other Holders; and

                    (ii) use its best efforts to effect as soon as practicable such registration (including,
without limitation, the execution of an undertaking to file post-effective amendments, appropriate
qualification under applicable blue sky or other state securities laws and appropriate compliance
with applicable regulations issued under the Securities Act and any other governmental requirements
or regulations) as may be so requested and as would permit or facilitate the sale and distribution
of all or such portion of such Registrable Securities as are specified in such request, together
with all or such portion of the Registrable Securities of any Holder or Holders joining in such
request as are specified in a written request received by the Company within 15 days after receipt
of the written notice from the Company; provided, however, that the Company shall
not be obligated to take any action to effect any such registration pursuant to this Section 1.5:

                         (1) Prior to six months following the closing of the Company’s Initial Public Offering;

                         (2) During the period starting with the date 60 days prior to the Company’s estimated date of
filing of, and ending on the date three months immediately following the effective date of, any
registration statement (other than a registration of Securities in a Rule 145 transaction or with
respect to an employee benefit plan) pertaining to Securities of the Company (subject to Section
1.6(a) hereof), provided that the Company is actively employing in good faith all reasonable
efforts to cause such registration statement to be filed and become effective and that the Company
provides the Initiating Holders written notice of its intent to file such

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registration statement
within 30 days of receiving the request for registration from the Initiating Holders and provided
further, however, that the Company may not utilize this right more than once in any 12-month
period.

                         (3) After the Company has effected two registrations pursuant to this Section 1.5; or

                         (4) If the Company shall furnish to such Holders a certificate, signed by the President of the
Company, stating that in the good faith judgment of the Board of Directors it would be seriously
detrimental to the Company or its shareholders for a registration statement to be filed in the near
future, in which case the Company’s obligation to use its best efforts to register under this
Section 1.5 shall be deferred for a period not to exceed 90 days from the date of receipt of
written request from the Initiating Holders; provided, however, that the Company may not utilize
this right more than once in any 12-month period.

               (b) Underwriting. 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 part of their request made under Section 1.5(a), and the Company shall so advise the Holders as
part of the notice given pursuant to Section 1.5(a)(i). The right of any Holder to registration
pursuant to Section 1.5 shall be conditioned upon such Holder’s participation in the underwriting
arrangements required by this Section 1.5 and the inclusion of such Holder’s Registrable Securities
in the underwriting, to the extent requested and provided herein.

     The Company shall (together with all Holders proposing to distribute their securities through
such underwriting) enter into an underwriting agreement in customary form with the managing
underwriter selected for such underwriting by the Company and a majority of the Holders.
Notwithstanding any other provision of this Section 1.5, if the managing underwriter advises the
Company in writing that marketing factors require a limitation of the number of shares to be
underwritten, then the Company shall so advise all Holders of Registrable Securities who indicated
their intent to participate in the registration in a timely manner, and the number of shares of
Registrable Securities that may be included in the registration and underwriting shall be allocated
among such Holders in proportion, as nearly as practicable, to the respective number of Registrable
Securities held by such Holders at the time of filing the registration statement, provided,
however, that the number of shares of Registrable Securities to be included in such
underwriting shall not be reduced unless all Worthington Shares, all Other Shares and all other
Securities that are not Registrable Securities (other than Securities to be sold for the account of
the Company) are first
entirely excluded from the underwriting. No Registrable Securities excluded from the
underwriting by reason of the underwriter’s marketing limitation shall be included in such
registration. To facilitate the allocation of shares in accordance with the above provisions, the
Company or the underwriters may round the number of shares allocated to any Holder to the nearest
100 shares.

     If any Holder of Registrable Securities disapproves of the terms of the underwriting, such
person may elect to withdraw therefrom by written notice to the Company, the managing underwriter
and the Initiating Holders. The Registrable Securities so withdrawn shall also be withdrawn from
registration.

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          1.6 Company Registration.

               (a) Notice of Registration. If at any time or from time to time, the Company shall
determine to register any Common Stock, either for its own account or the account of a security
holder or holders other than (i) a registration relating to employee benefit plans, (ii) a
registration relating to the offer and sale of debt securities, (iii) a registration relating to a
Commission Rule 145 transaction, or (iv) a registration pursuant to Sections 1.5 or 1.7 hereof, the
Company will:

                    (i) promptly give to each Holder written notice thereof; and

                    (ii) include in such registration (and any related qualification under blue sky laws or other
compliance), and in any underwriting involved therein, all the Registrable Securities specified in
a written request or requests made within 15 days after receipt of such written notice from the
Company by any Holder.

               (b) Underwriting. If the registration of which the Company gives notice is for a
registered public offering involving an underwriting, the Company shall so advise the Holders in a
written notice given pursuant to this Section 1.6. In such event, the right of any Holder to
registration pursuant to this Section 1.6 shall be conditioned upon such Holder’s participation in
such underwriting and the inclusion of Registrable Securities in the underwriting to the extent
provided herein.

     All Holders proposing to distribute their securities through such underwriting shall (together
with the Company and the other holders distributing their securities through such underwriting)
enter into an underwriting agreement in customary form with the managing underwriter selected for
such underwriting by the Company. Notwithstanding any other provision of this Section 1.6, if the
managing underwriter advises the Company in writing that marketing factors require a limitation of
the number of shares to be underwritten, then the Company shall so advise all Holders of
Registrable Securities and the number of shares of Registrable Securities that may be included in
the registration and underwriting shall be allocated among all Holders thereof in proportion, as
nearly as practicable, to the respective number of Registrable Securities held by such Holders at
the time of filing the registration statement; provided, however, that, no
Registrable Securities shall be excluded until all Worthington Shares, all Other Shares and all
other Securities that are not Registrable Securities
(other than Securities to be sold for the account of the Company) are first excluded, and
provided further, that, except in the case of the Company’s Initial Public Offering
(where Registrable Securities may be excluded entirely), the number of Registrable Securities
included in such underwriting shall not be reduced below 25% of the total number of shares in the
underwriting. No Registrable Securities excluded from the underwriting by reason of the
underwriter’s marketing limitation shall be included in such registration. To facilitate the
allocation of shares in accordance with the above provisions, the Company or the underwriters may
round the number of shares allocated to any Holder to the nearest 100 shares. The Company may
include shares of Common Stock held by shareholders other than Holders in a registration statement
pursuant to this Section 1.6 to the extent that the amount of Registrable Securities otherwise
includible in such registration statement would not thereby be diminished.

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     If any Holder or other holder disapproves of the terms of any such underwriting, he or she may
elect to withdraw therefrom by written notice to the Company and the managing underwriter. The
Registrable Securities so withdrawn shall also be withdrawn from such registration and, in the case
of the Company’s Initial Public Offering, shall be subject to Section 1.14.

               (c) Right to Terminate Registration. The Company shall have the right to terminate or
withdraw any registration initiated by it under this Section 1.6 prior to the effectiveness of such
registration, whether or not any Holder has elected to include securities in such registration.

          1.7 Registration on Form S-3.

               (a) If any Holder or Holders request that the Company file a registration statement on Form
S-3 (or any successor form to Form S-3) for a public offering of Registrable Securities, the
reasonably anticipated aggregate price to the public of which, net of underwriting discounts and
commissions, would exceed $2,000,000, and the Company is then entitled to use Form S-3 under
applicable Commission rules to register the Registrable Securities for such an offering, the
Company will:

                    (i) promptly give written notice of the proposed registration to all other Holders; and

                    (ii) use its best efforts to effect as soon as practicable such registration (including,
without limitation, the execution of an undertaking to file post-effective amendments, appropriate
qualification under applicable blue sky or other state securities laws and appropriate compliance
with applicable regulations issued under the Securities Act and any other governmental requirements
or regulations) as may be so requested and as would permit or facilitate the sale and distribution
of all or such portion of such Registrable Securities as are specified in such request, together
with all or such portion of the Registrable Securities of any Holder or Holders joining in such
request as are specified in a written request received by the Company within 15 days after receipt
of the written notice from the Company; provided, however, that the Company shall
not be obligated to take any action to effect any such registration pursuant to this Section 1.7:

                         (1) if the Company, within ten (10) days of the receipt of the request for registration
pursuant to this Section 1.7, gives notice of its bona fide intention to effect the filing of a
registration statement with the Commission within ninety (90) days of receipt of such request
(other than with respect to a registration statement relating to a Rule 145 transaction or an
employee benefit plan or any other registration which is not appropriate for the registration of
Registrable Securities);

                         (2) during the period starting with the date sixty (60) days prior to the Company’s estimated
date of filing of, and ending on the date three months immediately following, the effective date of
any registration statement pertaining to Securities of the Company (other than with respect to a
registration statement relating to a Rule 145 transaction or an employee benefit plan), provided
that the Company is actively employing in good faith all reasonable efforts to cause such
registration statement to be filed and become effective; or

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                         (3) if the Company shall furnish to such Holder or Holders a certificate signed by the
President of the Company stating that in the good faith judgment of the Board of Directors it would
be seriously detrimental to the Company or its shareholders for registration statements to be filed
in the near future, then the Company’s obligation to use its best efforts to file a registration
statement shall be deferred for a period not to exceed 90 days from the receipt of the request to
file such registration by such Holder or Holders; provided further, however, that
the Company may not utilize the rights provided for in subsections (1) and (2) above and this
subsection (3) more than once in total in any twelve month period. For the avoidance of doubt, if
the Company utilizes any of the rights provided for in subsections (1), (2) and (3), it shall not
have the right to utilize the same right again; nor shall it have the right to utilize any of the
other rights provided in subsections (1), (2) and (3) for twelve months.

               (b) Underwriting. If the Holders requesting registration 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 under Section 1.7(a), and the Company shall so advise the
Holders as part of the notice given pursuant to Section 1.7(a)(i). The substantive provisions of
Section 1.5(b) shall otherwise apply to such registration.

          1.8 Expenses of Registration. All Registration Expenses incurred in connection with
any registration pursuant to Sections 1.5, 1.6 and 1.7 shall be borne by the Company. If a
registration proceeding is begun upon the request of Holders pursuant to Section 1.5 or 1.7, but
such request is subsequently withdrawn at the request of the Holders, then the Holders of
Registrable Securities to have been registered may either: (i) bear all Registration Expenses of
such proceeding, pro rata on the basis of the number of shares to have been registered, in which
case the Company shall be deemed not to have effected a registration pursuant to Section 1.5(a) or
1.7(a) of this Agreement as applicable; provided, however, that the Company, and
not the Holders, shall be required to pay for the Registration Expenses if the Holders learn of a
materially adverse change in the condition, business, or prospects of the Company from that known
to the Holders at the time of their request and have withdrawn the request promptly following
discovery of such material adverse
change; or (ii) if the registration is being effected pursuant to Section 1.5, require the
Company to bear all Registration Expenses of such proceeding, in which case the Company shall be
deemed to have effected a registration pursuant to Section 1.5(a). Unless otherwise stated, all
other Selling Expenses relating to securities registered on behalf of the Holders shall be borne by
the Holders of the registered securities included in such registration pro rata on the basis of the
number of shares so registered, provided that to the extent a Holder elects to
retain its own counsel (an “Additional Counsel”) separate from the counsel for all the Holders
permitted pursuant to the definition of “Registration Expenses” under Section 1.1, then such Holder
shall exclusively bear the costs of such Additional Counsel.

          1.9 Registration Procedures. In the case of each registration, qualification or
compliance effected by the Company pursuant to this Section 1, the Company will keep each Holder
advised in writing as to the initiation of each registration, qualification and compliance and as
to the completion thereof. At its expense the Company will, as expeditiously as reasonably
possible:

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               (a) Prepare and file with the Commission 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 a period of up to one hundred
twenty (120) days or until the distribution described in the registration statement has been
completed; provided, however, that such 120-day 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.

               (b) Prepare and file with the Commission, in consultation with the Holders, 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 participating in such registration and to the underwriters of the
securities being registered such reasonable number of copies of the registration statement,
preliminary prospectus, final prospectus and such other documents as such underwriters may
reasonably request in order to facilitate the public offering of such securities.

               (d) Use its best efforts to register and qualify the securities covered by such registration
statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably
requested by the 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, unless the Company is already subject to service in
such jurisdiction and except as may be required by the Securities Act.

               (e) In the event of any underwritten public offering, enter into and perform its obligations
under an underwriting agreement, in usual and customary form, with the managing
underwriter of such offering. Each Holder participating in such underwriting shall also enter
into and perform its obligations under such an agreement.

               (f) Notify each Holder of Registrable Securities 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 or
incomplete in light of the circumstances then existing, and at the request of any such Holder,
prepare and furnish to such Holder a reasonable number of copies of a supplement to or an amendment
of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such
shares, such prospectus shall not include an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein not
misleading or incomplete in the light of the circumstances then existing.

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               (g) Cause all such Registrable Securities registered pursuant hereunder to be listed on each
securities exchange, or quoted in a U.S. automated inter-dealer quotation system, as the case may
be, on which similar securities issued by the Company are then listed or quoted.

               (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) In the event of any underwritten public offering, cooperate with the selling Holders, the
underwriters participating in the offering and their counsel in any due diligence investigation
reasonably requested by the selling Holders or the underwriters in connection therewith, and
participate, to the extent reasonably requested by the managing underwriter for the offering or the
selling Holder, in efforts to sell the Registrable Securities under the offering (including,
without limitation, participating in “roadshow” meetings with prospective investors) that would be
customary for underwritten primary offerings of a comparable amount of equity securities by the
Company.

          1.10 Indemnification.

               (a) The Company will indemnify and defend each Holder, each of its officers and directors and
partners, and each person controlling such Holder within the meaning of Section 15 of the
Securities Act, with respect to which registration, qualification or compliance is being effected
pursuant to this Section 1, and each underwriter, if any, and each person who controls any
underwriter within the meaning of Section 15 of the Securities Act, against all expenses, claims,
losses, damages or liabilities (or actions in respect thereof), including any of the foregoing
incurred in settlement of any litigation, commenced or threatened, arising out of or based on any
untrue statement (or alleged untrue statement) of a material fact contained in any registration
statement, prospectus, preliminary prospectus, offering circular or other document, or any
amendment or supplement thereto, incident to any such registration, qualification or compliance, or
based on any
omission (or alleged omission) to state therein a material fact required to be stated therein
or necessary to make the statements therein, in light of the circumstances in which they were made,
not misleading, or any violation or any alleged violation by the Company of the Securities Act or
the Exchange Act or any state securities law, or any rule or regulation promulgated thereunder,
applicable to the Company in connection with any such registration, qualification or compliance,
and the Company will reimburse each such Holder, each of its officers and directors, and each
person controlling such Holder, each such underwriter and each person who controls any such
underwriter, for any legal and any other expenses reasonably incurred in connection with
investigating, preparing or defending any such claim, loss, damage, liability or action, as such
expenses are incurred, provided that the Company will not be liable in any such case to the extent
that any such claim, loss, damage, liability or expense arises out of or is based on any untrue
statement or omission or alleged untrue statement or omission, made in reliance upon and in
conformity with written information furnished to the Company by an instrument duly executed by such
Holder, controlling person or underwriter and stated to be specifically for use therein.

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               (b) Each Holder will, if Registrable Securities held by such Holder are included in the
securities as to which such registration, qualification or compliance is being effected, indemnify
the Company, each of its directors and officers, each underwriter, if any, of the Company’s
securities covered by such a registration statement, each person who controls the Company or such
underwriter within the meaning of Section 15 of the Securities Act, and each other such Holder,
each of its officers and directors and each person controlling such Holder within the meaning of
Section 15 of the Securities Act, against all claims, losses, damages and liabilities (or actions
in respect thereof) arising out of or based on any untrue statement (or alleged untrue statement)
of a material fact contained in any such registration statement, prospectus, offering circular or
other document, or any omission (or alleged omission) to state therein a material fact required to
be stated therein or necessary to make the statements therein not misleading, and will reimburse
the Company, such Holders, such directors, officers, persons, underwriters or control persons for
any legal or any other expenses reasonably incurred in connection with investigating or defending
any such claim, loss, damage, liability or action, as such expenses are incurred, in each case to
the extent, but only if and to the extent, that such untrue statement (or alleged untrue statement)
or omission (or alleged omission) is made in such registration statement, prospectus, offering
circular or other document in reliance upon and in conformity with written information furnished to
the Company by an instrument duly executed by such Holder and stated to be specifically for use
therein; provided, however, that the liability of any Holder shall be limited to
the net proceeds received by such Holder from the sale of Securities pursuant to such registration.

               (c) Each party entitled to indemnification under this Section 1.10 (the “Indemnified Party”)
shall give notice to the party required to provide indemnification (the “Indemnifying Party”)
promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may
be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any
litigation resulting therefrom, provided that counsel for the Indemnifying Party, who shall conduct
the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval
shall not unreasonably be withheld), and the Indemnified Party
may participate in such defense at such party’s expense; provided, however,
that an Indemnified Party (together with all other Indemnified Parties which may be represented
without conflict by one counsel) shall have the right to retain one separate counsel, with the fees
and expenses to be paid by the Indemnifying Party, if representation of such Indemnified Party by
the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential
differing interests between such Indemnified Party and any other party represented by such counsel
in such proceeding. The failure of any Indemnified Party to give notice as provided herein shall
not relieve the Indemnifying Party of its obligations under this Section 1 unless, and only to the
extent that, the failure to give such notice is materially prejudicial to an Indemnifying Party’s
ability to defend such action. No Indemnifying Party, in the defense of any such claim or
litigation, shall, except with the consent of each Indemnified Party, consent to entry of any
judgment or enter into any settlement which does not include as an unconditional term thereof the
giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in
respect to such claim or litigation.

               (d) If the indemnification provided for in this Section 1.10 is held by a court of competent
jurisdiction to be unavailable to an Indemnified Party with respect to any loss,

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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
(except to the extent that contribution is not permitted under Section 11(f) of the Securities
Act); provided, however, that, no Holder will be required to pay any amount under
this subsection 1.10(d) in excess of the net proceeds from the sale of all Registrable Securities
offered and sold by such Holder pursuant to such registration statement. 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 with respect to the rights and obligations of each of the
parties to such underwriting agreement.

               (f) The obligations of the Company and Holders under this Section 1.10 shall survive the
completion of any offering of Registrable Securities in a registration statement under this Section
1, and otherwise.

          1.11 Information by Holder. The Holder or Holders of Registrable Securities included
in any registration shall furnish to the Company such information regarding such Holder or Holders,
the Securities held by them and the distribution proposed by such Holder or Holders as the Company
may reasonably request in writing and as shall be required in connection with any registration
referred to in this Section 1.

          1.12 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 Commission 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
use its best efforts to:

               (a) make and keep public information available, as those terms are understood and defined in
Rule 144 under the Securities Act, at all times after the effective date that the Company becomes
subject to the reporting requirements of the Securities Act or the Exchange Act;

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

               (c) register its Common Stock under Section 12 of the Exchange Act at such time as it is
required to do so pursuant to 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 as to its compliance with the reporting
requirements of 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 in the possession of or
reasonably obtainable by the Company as may be reasonably requested in availing any Holder of any
rule or regulation of the Commission which permits the selling of any such securities without
registration or pursuant to such form.

          1.13 Transfer of Registration Rights. The rights to cause the Company to register
Registrable Securities granted to the Investors under Sections 1.5, 1.6 and 1.7 may be assigned to
a transferee or assignee in connection with any transfer or assignment of Eligible Securities by an
Investor; provided that (a) such transfer may otherwise be effected in accordance with applicable
securities laws, (b) notice of such assignment is given to the Company, (c) such transferee is a
Permitted Transferee and (d) such transferee or assignee agrees to be bound by and subject to the
terms and conditions of this Agreement.

          1.14 Standoff Agreement.

               (a) Each Holder agrees in connection with the first sale of the Company’s Common Stock in a
firm commitment underwritten public offering pursuant to an effective registration statement under
the Securities Act, upon notice by the Company or the underwriters managing such public offering,
not to sell, make any short sale of, loan, pledge (or otherwise encumber or hypothecate), grant any
option for the purchase of, or otherwise directly or indirectly dispose of any Securities (other
than those included in the registration) without the prior written consent of the Company and such
managing underwriters for such period of time as the Board of Directors establishes pursuant to its
good faith negotiations with such managing underwriters; provided, however that:

                    (i) such agreement shall not exceed one hundred eighty (180) days;

                    (ii) such agreement shall not apply to transfers to an Affiliate, provided that such Affiliate
agrees to be bound by the terms of such agreement, to the same extent as if such transferee were
the original party thereunder;

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                    (iii) a Holder shall not be subject to such agreement unless (A) all executive officers and
directors of the Company, (B), all shareholders of the Company holding more than 1% of the
Company’s outstanding capital stock; and (C) all other Holders and holders of other registration
rights, are subject to or obligated to enter into similar agreements; and

                    (iv) if and when any person identified in clause (iii) is released, in whole or in part, from
such agreement (whether or not such release is contemplated at the time of the offering) or if any
such agreement is terminated, the Holder shall be concurrently released on a pro rata basis based
on the number of shares held by such person and the Holder.

               (b) Each Holder agrees that prior to the Initial Public Offering it will not transfer
securities of the Company unless each transferee agrees in writing to be bound by all of the
provisions of this Section 1.14; provided that this Section 1.14(b) shall not apply to transfers
pursuant to a registration statement.

               (c) Each Holder hereby consents to the placement of stop transfer orders with the Company’s
transfer agent in order to enforce the foregoing provision and agrees to execute a market standoff
agreement with said underwriters in customary form consistent with the provisions of this Section
1.14.

          1.15 No Right to Delay Registration. No holder shall restrain, enjoin, or otherwise
delay any registration hereunder, notwithstanding any controversy that might arise with respect to
the interpretation or implementation of this Agreement.

          1.16 Termination of Rights. No Holder shall be entitled to exercise any right
provided for in this Section 1 after the earlier of (i) five (5) years following the consummation
of the Initial Public Offering, and (ii) that date following the Initial Public Offering upon which
each Holder holds less than 1% of the then issued and outstanding shares of capital stock of the
Company and all such shares may be sold under Section 5 of the Securities Act whether pursuant to
Rule 144 or another applicable exemption during any 90 day period. All other provisions hereof
relating to registration rights shall continue to be effective despite any termination of such
registration rights pursuant to this section.

          1.17 Limitations on Subsequent Registration Rights. From and after the date of this
Agreement, the Company shall not enter into any agreement granting any holder or prospective holder
of any securities of the Company registration rights with respect to such securities unless (i)
such new registration rights, are subordinate to the registration rights granted Holders hereunder
and include similar market stand-off obligations or (ii) such new registration rights are approved
by the Holders of 50% of the Registrable Securities then held by Holders (assuming exercise or
conversion of all outstanding Eligible Securities); provided, however, that
Warrantholders may enter into this Agreement by executing and delivering a counterpart signature
page to this Agreement.

SECTION 2

Affirmative Covenants of the Company

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     The Company hereby covenants and agrees as follows:

          2.1 Delivery of Financial Statements. The Company will furnish to each Investor who
holds at least 40,000 shares of Eligible Securities (as adjusted for stock splits and
combinations):

               (a) as soon as reasonably practicable, an income statement for such fiscal year, a balance
sheet of the Company and statement of shareholder’s equity as of the end of such year, and a cash
flow statement for such 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 selected by the Company; and

               (b) as soon as practicable, but in any event within forty-five (45) days after the end of each
of the first three (3) quarters of each fiscal year of the Company, an unaudited income statement,
cash flow statement for such fiscal quarter and an unaudited balance sheet as of the end of such
fiscal quarter.

          2.2 Additional Information Rights.

               (a) Budget and Operating Plan. The Company will furnish to each Investor who holds at
least 750,000 shares of Eligible Securities (as adjusted for stock splits and
combinations) as soon as practicable upon approval or adoption by the Company’s Board of
Directors, and in any event within 15 days prior to the start of a fiscal year, the Company’s
budget and operating plan for such fiscal year.

               (b) Other Information. The Company will furnish to each Investor who holds at least
750,000 shares of Eligible Securities (as adjusted for stock splits and combinations) such other
information relating to the financial condition, business, prospects or corporate affairs of the
Company as such Investor may from time to time request; provided, however, that the
Company shall not be obligated under this subsection (b) or any other subsection of Section 2.2 to
provide information which it deems in good faith to be a trade secret or similar confidential
information.

               (c) Inspection. The Company shall permit each Investor who holds at least 750,000
shares of Eligible Securities (as adjusted for stock splits and combinations), at such Investor’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, all at such
reasonable times and during normal working hours as may be requested by such Investor;
provided, however, that the Company shall not be obligated under this subsection
(c) or any other subsection of Section 2.2 to provide access to information which it deems in good
faith to be a trade secret or similar confidential information.

               (d) Monthly Financial Statements. The Company will furnish to each Investor who holds
at least 750,000 shares of Eligible Securities (as adjusted for stock splits and combinations),
upon the request of such Investors, within thirty (30) days of the end of each month,

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an unaudited
income statement and cash flow statement and unaudited balance sheet for and as of the end of such
month, in reasonable detail.

          2.3 Confidentiality. Each Investor agrees to use commercially reasonable efforts to
maintain the confidentiality of information obtained pursuant to this Section 2, provided that such
obligation shall not apply to (i) information previously in possession or independently developed
by Investor, (ii) information publicly available other than as a result of breach of this provision
(iii) information required to be disclosed by statute, regulation or court or administrative order.

          2.4 Visitation Rights. One representative chosen collectively by LB I Group Inc.,
Lehman Brothers P.A. LLC, Lehman Brothers Partnership Account 2000/2001, L.P. and Lehman Brothers
Offshore Partnership Account 2000/2001, L.P. (collectively, “Lehman”), one representative chosen
collectively by EuclidSR Partners, L.P. and EuclidSR Biotechnology Partners, L.P. (collectively,
“EuclidSR”), one representative chosen by Piper Jaffray Healthcare Fund III, L.P. (“Piper
Jaffray”), one representative chosen by GE Capital Equity Investments, Inc. (“GE Capital”), one
representative chosen collectively by Interwest Investors VII, L. P. and Interwest Partners VII,
L.P. (collectively, “Interwest”), one representative chosen by AllianceBernstein L.P. (“Alliance”),
and one representative chosen by BMSIF shall have the right to attend all meetings of the Board of
Directors, including meetings of any committee of the Board and including the right to participate
in any telephonic board meetings, so long as such Investor holds at least 750,000 shares
of Eligible Securities (as adjusted for stock splits and combinations and the like). Said
representative(s) shall be provided with notice of the meetings in the same manner at the same time
as the members of the Board of Directors and shall be provided with any materials distributed to
the Board of Directors in connection with board meetings. The foregoing visitation rights may be
limited by the Board of Directors if (i), upon the advice of counsel, the Board of Directors
determines that exclusion is required by third party confidentiality agreements, (ii) the Board is
discussing engaging Investor or an affiliate of Investor as a financial advisor or underwriter; or
(iii) the Board is discussing a material transaction with an entity in which Investor or a private
equity fund affiliated with Investor is a 5% or greater shareholder, or (iv) the Board determines
in good faith upon advice of counsel that limitations are required to maintain attorney-client
privilege.

          2.5 Stock Option Vesting. Unless otherwise decided by the Board of Directors, all
option grants to employees shall vest over a four-year period with 25% of the shares subject to
each option vesting a year after commencement of employment and the remainder of the shares vesting
in equal amounts on a monthly basis thereafter.

          2.6 Insurance. The Company shall, subject to the approval of the Board of Directors,
maintain such fire, casualty and general liability insurance with coverages and in amounts as shall
be determined by the Board of Directors. The Company agrees to maintain in full force and effect
directors and officers liability insurance with coverage in the aggregate amount of amount of $2
million covering all of its directors. The Company will maintain coverage for the Series C
Directors (as defined in the Voting Agreement) and the Series D Directors (as defined in the Voting
Agreement) under such directors and officers liability insurance at all times commencing upon the
Closing (as defined in the Purchase Agreement).

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          2.7 Proprietary Information Agreements. Unless otherwise determined by the Board of
Directors, all future employees and consultants of the Company shall be required to execute and
deliver a proprietary information and invention assignment agreement.

          2.8 Invention Assignments. The Company agrees to use commercially reasonable efforts
to obtain from each of the individual contributing inventors for each invention that forms any part
of any patent or patent application owned by or licensed to the Company, executed invention
assignments in favor of the Company or the appropriate third party licensor, as the case may be.

          2.9 Key-Man Life Insurance. The Company shall obtain and maintain key-man life
insurance in such amount as is determined by the Company’s Board of Directors, on Gajus
Worthington. Such policy shall name the Company as loss payee and shall not be cancelable by the
Company without prior unanimous approval of the Board of Directors.

          2.10 Compliance with Laws. The Company shall use its best efforts to comply with the
requirements of all applicable laws, rules, regulations and orders of any governmental authority,
where noncompliance would have a material adverse effect on the Company’s business and financial
condition.

          2.11 Termination of Covenants. The covenants set forth in Section 2 shall terminate
on, and be of no further force or effect after, the closing of the Company’s Initial Public
Offering. The rights granted pursuant to this Section 2 are not transferable other than to
Affiliates of Holders.

SECTION 3

Right of First Offer For Company Securities

          3.1 Right of First Offer. Subject to the terms and conditions specified in this
Section 3, the Company hereby grants to each Investor a right of first offer with respect to future
sales by the Company of its Securities. An Investor shall be entitled to apportion the right of
first offer hereby granted among itself and its partners and Affiliates in such proportions as it
deems appropriate.

     Each time the Company proposes to offer any Securities in a Financing (as defined below), the
Company shall first make an offering of such Securities to each Investor in accordance with the
following provisions:

               (a) The Company shall deliver a notice (“Notice”) to each Investor stating (i) its intention
to offer such Securities for sale, (ii) the number of such Securities to be offered (the “Offered
Securities”), (iii) the price, if any, for which it proposes to offer such Securities, (iv) the
terms of such offer and (v) the Offer Amount (as defined below).

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               (b) Within fifteen (15) calendar days after receipt of the Notice, each Investor may elect to
purchase, at the price and on the terms specified in the Notice, such Securities in an amount up to
the Offer Amount by providing the Company with written notice of its election.

               (c) An election by an Investor pursuant to Section 3.1(b) to purchase Offered Securities shall
not be considered a binding commitment on the Investor unless and until the Company receives
binding commitments to purchase on the terms and conditions contained in the Notice substantially
all of the Offered Securities which the Investors have not elected to purchase.

     Notwithstanding the foregoing, the Company and each of the Investors acknowledge and agree
that Lighthouse shall have the opportunity to invest not less than $250,000 in connection with the
first Financing completed after the date of this Agreement that involves the sale and issuance by
the Company of shares of the Company’s convertible preferred stock with aggregate gross proceeds to
the Company of at least $3 million. In the event that Lighthouse’s right to purchase Offered
Securities as otherwise set forth in this Section 3.1 would not permit such $250,000 investment,
then each of the Investors agrees that its respective right to purchase Offered Securities pursuant
to this Section 3.1 may be cut-back (proportionately with all other Investors based on the number
of shares of Eligible Securities held by the Investors) in such amounts as may be necessary to
permit the exercise of Lighthouse’s rights as set forth herein.

          3.2 Sale of Securities by Company. Within 60 days of the expiration of the period
described in Section 3.1(b), any Offered Securities which the Investors have not elected to
purchase may be sold by the Company to any person or persons at a price not less than, and upon
terms no more favorable to the offeree than, those specified in the Notice. If the Company does
not complete the sale of all such Offered Securities within said 60-day period, the rights of the
Investors with respect to any such unsold Offered Securities shall be deemed to be revived.

          3.3 Offer Amount. The “Offer Amount” shall equal that percentage of the Offered
Securities equal to the number of shares of Eligible Securities held by an Investor which are
Registrable Securities divided by the total number of outstanding shares of Common Stock of the
Company. For the purposes of the foregoing calculations, all outstanding options and warrants
shall be deemed to be exercised and all Preferred Stock shall be deemed to have been converted into
Common Stock at the prevailing conversion rate.

          3.4 Financing. “Financing” shall mean an offering or series of related offerings of
Securities by the Company for purposes of raising working capital in a minimum amount of $250,000.
Financing shall not include (i) the issuance or sale of shares of Common Stock or options to
purchase Common stock to employees, officers, directors or consultants for the primary purpose of
soliciting or retaining their services in such amount as shall have been approved by the Board of
Directors, (ii) the issuance or sale of Securities to leasing entities or financial institutions in
connection with commercial leasing or borrowing transactions approved by the Board of Directors,
(iii) the issuance or sale of Securities to third party providers of goods or services in
connection with transactions approved by the Board of Directors; (iv) the sale of Securities in a
registered public offering, (v) any issuances of Securities in connection with any stock split,
stock dividend or recapitalization by the Company, (vi) the issuance of Securities at a price (on
an as converted to

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Common Stock basis) below the original issue price of the Company’s Series E
Preferred Stock (as adjusted for stock splits, recapitalizations and like events) in connection
with sponsored research, collaboration, technology license, development, OEM, marketing or other
similar agreements or any joint venture or strategic alliance, if such issuance is approved
unanimously by the Board of Directors, provided that the issuance of the Company’s
Series E Preferred Stock to BMSIF or any Affiliate thereof or any related entity to the Singapore
Economic Development Board pursuant to Section 3.4(xii) below at a price below the original issue
price of the Company’s Series E Preferred Stock (as adjusted for stock splits, recapitalizations
and like events) shall also not be a Financing hereunder, (vii) the issuance of Securities at a
price (on an as converted to Common Stock basis) at or above the original issue price of the
Company’s Series E Preferred Stock (as adjusted for stock splits, recapitalizations and like
events) in connection with sponsored research, collaboration, technology license, development, OEM,
marketing or other similar agreements or any joint venture or strategic alliance, if such issuance
is approved by the Board of Directors, (viii) the issuance of Securities at a price (on an as
converted to Common Stock basis) below the original issue price of the Company’s Series E Preferred
Stock (as adjusted for stock splits, recapitalizations and like events) in connection with the
acquisition of another corporation by the Company by merger, consolidation, or purchase of all or
substantially all of the assets or shares of such corporation unanimously approved by the Board of
Directors, (ix) the issuance of Securities at a price (on an as
converted to Common Stock basis) at or above the original issue price of the Company’s Series
E Preferred Stock (as adjusted for stock splits, recapitalizations and like events) in connection
with the acquisition of another corporation by the Company by merger, consolidation, or purchase of
all or substantially all of the assets or shares of such corporation approved by the Board of
Directors; (x) shares of Series E Preferred Stock issued pursuant to the terms of the Purchase
Agreement; (xi) interest-bearing convertible promissory notes in the aggregate principal amount of
$8 million issued or issuable pursuant to the CNPA and/or the CNA and any Securities issued on
conversion thereof; and (xii) additional interest-bearing convertible promissory notes to be issued
after the date hereof in the aggregate principal amount of up to $15 million to BMSIF or any
Affiliate thereof or any related entity to the Singapore Economic Development Board, and any
Securities issued on conversion thereof.

          3.5 Termination of Right of First Offer. The right of first offer contained in this
section shall not apply to and shall terminate upon the closing of an Initial Public Offering. The
right of first offer granted under this Section 3 is transferable to transferees of at least
750,000 shares of Registrable Securities (as adjusted for stock splits, combinations and the like)
or to Affiliates.

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SECTION 4

Right of First Offer with Respect to Founder Shares

          4.1 Notice of Sales. Should a Founder (a “Seller”) propose to accept one or more bona
fide offers (collectively, the “Purchase Offer”) from any persons (“Purchasers”) to purchase
Founders Shares from such Seller (other than as set forth 4.2(d) hereof), then such Seller shall,
promptly after exercise or termination of any rights of first refusal held by the Company, deliver
a notice (the “Notice”) to the Company and all Investors holding more than 750,000 shares of
Eligible Securities (“Eligible Investors”).

          4.2 Purchase Right. Each Eligible Investor shall have the right, exercisable upon
written notice to such Seller within ten (10) business days after receipt of the Notice, to
purchase Founders Shares on the terms and conditions specified in the Purchase Offer. To the
extent an Eligible Investor exercises its right to purchase such shares in accordance with the
terms and conditions set forth below, the number of shares of stock which such Seller may sell to
the Purchasers pursuant to the Purchase Offer shall be correspondingly reduced. The purchase right
of each Eligible Investor shall be subject to the following terms and conditions:

               (a) Calculation of Shares. Each Eligible Investor may purchase all or any part of
that number of Founder Shares equal to the number obtained by multiplying (i) the aggregate number
of Founders Shares covered by the Purchase Offer by (ii) a fraction, the numerator of which is the
number of shares of Common Stock of the Company at the time owned by such Eligible Investor and the
denominator of which is the number of shares of Common Stock of the Company then outstanding. For
the purposes of the foregoing calculations, all outstanding options and
warrants shall be deemed to be exercised and all Preferred Stock shall be deemed to have been
converted into Common Stock at the prevailing conversion rate.

               (b) Delivery of Consideration. Each Eligible Investor may effect its purchase right
by promptly delivering to such Seller a written notice and a check or wire transfer equal to the
purchase price specified in the Purchase Offer for the number of shares the Eligible Investor
desires to purchase pursuant to this Section 4.2.

               (c) Certificate. Within ten (10) business days of receipt of Eligible Investor’s
funds pursuant to Section 4.2(c), Seller shall deliver to such Eligible Investor a certificate or
certificates representing the shares of Founder Shares purchased by such Eligible Investor.

               (d) Permitted Transactions. The participation rights in this Section 4 shall not
pertain or apply to:

                    (i) Any transfer to a revocable grantor trust with respect to which the Founder and members of
his family are the sole beneficiaries;

                    (ii) Any repurchase of Founders Shares by the Company;

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                    (iii) Any exercise by the Company of a right or remedy under the terms of any loan, security
or stock pledge agreement where the Founders Shares serve as security for a loan made by the
Company;

                    (iv) Any transfer to any ancestors or descendants or spouse of a Founder or to a trustee for
their benefit or to a custodian for the benefit of a Founders’ issue; or

                    (v) Any bona fide gift;

provided, however, that such Founder shall inform the Eligible Investors of such transfer or gift
(other than a transfer pursuant to clause (ii) or (iii)) prior to effecting it and the transferee
or donee (if other than the Company) shall furnish the Company and the Eligible Investors with a
written agreement to be bound by and comply with all applicable provisions of this Agreement.

          4.3 Sale of Securities by Founder. Within 60 days of the expiration of the period
described in the first paragraph of Section 4.2, any Founders Shares covered by the Purchase Offer
which the Eligible Investors have not elected to purchase may be sold by the Seller to the
Purchasers on the terms and conditions of the Purchase Offer. If the Seller does not complete the
sale of all Founders Shares covered by the Purchase Offer within such period, the rights of the
Eligible Investors with respect to any such unsold Founders Shares shall be deemed to be revived.

          4.4 Termination and Transfer. The restrictions imposed and rights granted by this
Section 4 shall not apply to and shall terminate immediately prior to the closing of the Company’s
Initial Public Offering. Securities received pursuant to any stock dividend, stock split,
recapitalization, or exercise of a conversion right shall be subject to this Section 4 to the
same extent as the shares of the Company with respect to which they were issued. The right of
first offer granted under this Section 4 is transferable to transferees of at least 750,000 shares
of Registrable Securities (as adjusted for stock splits, combinations and the like) or to
Affiliates.

          4.5 Prohibited Transfer. Any attempt by a Founder to transfer Founders Shares in
violation of Section 4 hereof shall be void and the Company agrees it will not effect such a
transfer nor will it treat any alleged transferee(s) as the holder of such shares, without the
written consent of two-thirds (2/3) in interest of the Eligible Investors.

SECTION 5

Right of Co-Sale

          5.1 Notice of Sales. Should a Founder (a “Seller”) propose to accept one or more bona
fide offers (collectively, the “Purchase Offer”) from any persons (“Purchasers”) to purchase
Founders Shares from such Seller (other than as set forth 5.2(d)), then such Seller shall, promptly
after exercise or termination of any rights of first refusal held by the Company or the Eligible
Investors, deliver a notice (the “Notice”) to the Company and all Eligible Investors describing the
terms and conditions of the Purchase Offer.

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          5.2 Participation Right. Each Eligible Investor shall have the right, exercisable
upon written notice to such Seller within fifteen (15) business days after receipt of the Notice,
to participate in such Seller’s sale of stock pursuant to the specified terms and conditions of
such Purchase Offer. To the extent an Eligible Investor exercises such right of participation in
accordance with the terms and conditions set forth below, the number of shares of stock which such
Seller may sell pursuant to such Purchase Offer shall be correspondingly reduced. The right of
participation of each Eligible Investor shall be subject to the following terms and conditions:

               (a) Calculation of Shares. Each Eligible Investor may sell all or any part of that
number of shares of Common Stock of the Company equal to the number obtained by multiplying (i) the
aggregate number of Founders Shares covered by the Purchase Offer by (ii) a fraction, the numerator
of which is the number of shares of Common Stock of the Company at the time owned by such Eligible
Investor and the denominator of which is the number of shares of Common Stock of the Company then
outstanding. For the purposes of the foregoing calculations, all outstanding options and warrants
shall be deemed to be exercised and all Preferred Stock shall be deemed to have been converted into
Common Stock at the prevailing conversion rate.

               (b) Delivery of Certificates. Each Eligible Investor may effect its participation in
the sale by delivering to such Seller for transfer to the Purchaser(s) one or more certificates,
properly endorsed for transfer, which represent at least the number of shares of Common Stock which
such Eligible Investor elects to sell pursuant to this Section 5.2.

               (c) Transfer. The stock certificate or certificates which the Eligible Investor
delivers to such Seller pursuant to Section 5.2 shall be delivered by the Seller to the
Purchaser(s) in consummation of the sale of the Securities pursuant to the terms and conditions
specified in the Notice, and such Seller shall promptly thereafter remit to such Eligible Investor
that portion of the sale proceeds to which such Eligible Investor is entitled by reason of its
participation in such sale.

               (d) Permitted Transactions. The participation rights in this Section 5 shall not
pertain or apply to:

                    (i) Any transfer to a revocable grantor trust with respect to which the Seller and members of
his family are the sole beneficiaries;

                    (ii) Any repurchase of Founders Shares by the Company;

                    (iii) Any exercise by the Company of a right or remedy under the terms of any loan, security
or stock pledge agreement where the Founders Shares serve as security for a loan made by the
Company;

                    (iv) Any transfer to any ancestors or descendants or spouse of a Founder or to a trustee for
their benefit or to a custodian for the benefit of a Founders’ issue; or

                    (v) Any bona fide gift;

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provided, however, that such Founder shall inform the Eligible Investors of such transfer or gift
(other than a transfer pursuant to clause (ii) or (iii)) prior to effecting it and the transferee
or donee (if other than the Company) shall furnish the Company and the Eligible Investors with a
written agreement to be bound by and comply with all applicable provisions of this Agreement.

          5.3 Sale of Securities by Founder. Within 45 days of the expiration of the period
described in the first paragraph of Section 5.2, any Founders Shares covered by the Purchase Offer
which the Eligible Investors have not elected to purchase may be sold by the Seller to the
Purchasers on the terms and conditions of the Purchase Offer. If the Seller does not complete the
sale of all Founders Shares covered by the Purchase Offer within such period, the rights of the
Eligible Investors with respect to any such unsold Founders Shares shall be deemed to be revived.

          5.4 Termination and Transfer. The restrictions imposed and rights granted by this
Section 5 shall not apply to and shall terminate immediately prior to the closing of the Company’s
Initial Public Offering. Securities received pursuant to any stock dividend, stock split,
recapitalization, or exercise of a conversion right shall be subject to this Section 5 to the same
extent as the shares of the Company with respect to which they were issued. The co-sale right
granted under this Section 5 is transferable to transferees of at least 750,000 shares of
Registrable Securities (as adjusted for stock splits, combinations and the like) or to Affiliates.

          5.5 Prohibited Transfers.

               (a) In the event any Founder should sell any Founders Shares in contravention of the co-sale
rights of the Investors under Section 5 (a “Prohibited Transfer”), the Investors, in addition to
such other remedies as may be available at law, in equity or hereunder, shall have the put option
provided below, and the Founder shall be bound by the applicable provisions of such option.

               (b) In the event of a Prohibited Transfer, each Eligible Investor shall have the right to sell
to the Founder the type and number of shares of Common Stock equal to the number of shares that
such Eligible Investor would have been entitled to transfer to the third-party transferee(s) under
Section 5.2 hereof had the Prohibited Transfer been effected pursuant to and in compliance with the
terms thereof. Such sale shall be made on the following terms and conditions:

                    (i) The price per share at which the shares are to be sold to the Founder shall be equal to
the price per share paid by the third-party transferee(s) to the Founder in the Prohibited
Transfer. Such price per share shall be paid to the Eligible Investor in cash if the Founder
received cash for his shares. If the Founder did not receive cash but received other property
instead, the price per share to be paid to the Eligible Investor shall be paid (A) in the form of
the property received by the Founder for his shares, or (B) in cash equal to the fair market value
of the property received by such Founder as determined in good faith by the Company’s Board of
Directors, at the option of the Eligible Investor. The Founder shall also reimburse each Eligible
Investor for any and all fees and expense, including legal fees and expenses, incurred pursuant to
the exercise or the attempted exercise of the Eligible Investor’s rights under Section 5.

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                    (ii) Within thirty (30) days after the later of the dates on which the Eligible Investor (A)
received notice of the Prohibited Transfer or (B) otherwise became aware of the Prohibited
Transfer, each Eligible Investor shall, if exercising the option created hereby, deliver to the
Founder the certificate or certificates representing shares to be sold, each certificate to be
properly endorsed for transfer.

                    (iii) The Founder shall, upon receipt of the certificate or certificates for the shares to be
sold by an Eligible Investor pursuant to this Section 5, pay the aggregate purchase price therefor
and the amount of reimbursable fees and expenses, as specified in subparagraph 5.5(b)(i), in cash
or by other means acceptable to the Eligible Investor.

               (c) Notwithstanding the foregoing, any attempt by a Founder to transfer Founders Shares in
violation of Section 5 hereof shall be void and the Company agrees it will not effect such a
transfer nor will it treat any alleged transferee(s) as the holder of such shares, without the
written consent of two-thirds (2/3) in interest of the Eligible Investors.

SECTION 6

Miscellaneous

          6.1 Governing Law; Jurisdiction. This Agreement shall be construed in accordance
with, and governed in all respects by, the laws of the State of California, as applied to
agreements entered into, and to be performed entirely in such state, between residents of such
state.

     The parties hereto agree to submit to the jurisdiction of the federal and state courts of San
Mateo County, California with respect to the breach or interpretation of this Agreement or the
enforcement of any and all rights, duties, liabilities, obligations, powers, and other relations
between the parties arising under this Agreement.

          6.2 Successors and Assigns. Except as otherwise provided herein, the provisions
hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs,
executors and administrators of the parties hereto.

          6.3 Notices, Etc. All notices and other communications required or permitted
hereunder, shall be in writing and shall be sent by facsimile personally delivered, mailed by
registered or certified mail, postage prepaid, return receipt requested, or otherwise delivered by
a nationally-recognized overnight courier, addressed (a) if to an Investor, at Investor’s facsimile
number or address as set forth in the records of the Company or (b) if to any other holder of any
Eligible Securities, at such address as such holder shall have furnished the Company in writing,
or, until any such holder so furnishes an address to the Company, then to and at the address of the
last holder of such Eligible Securities who has so furnished an address or facsimile number to the
Company, or (c) if to a Founder, at such Founder’s facsimile number or address set forth on
EXHIBIT B hereto, or a such other address as such Founder shall have furnished to the
Company in writing, or (d) if to the Company, at its facsimile number or address set forth on the
signature page hereto addressed to the attention of the Corporate Secretary, or at such other
address as the Company

-26-

 

shall have furnished to the Investors. Any such notice or communication
shall be deemed to have been received (A) in the case of personal delivery, on the date of such
delivery, (B) in the case of a nationally-recognized overnight courier, on the next business day
after the date when sent, (C) in the case of mailing, on the third business day following that on
which the piece of mail containing such communication is posted and (D) in the case of delivery via
facsimile, one (1) business day after the date of transmission provided that said transmission is
confirmed telephonically on the date of transmission.

          6.4 Delays or Omissions. No delay or omission to exercise any right, power or remedy
accruing to any holder of any Eligible Securities upon any breach or default of the Company under
this Agreement shall impair any such right, power or remedy of such holder, nor shall it be
construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any
similar breach or default thereafter occurring; nor shall any waiver of any single breach or
default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any
waiver, permit, consent or approval of any kind or character on the part of any holder of any
breach or default under this Agreement, or any waiver on the part of any holder of any provisions
or conditions of this Agreement, must be in writing and shall be effective only to the extent
specifically set forth in such writing or as provided in this Agreement. All remedies, either under this Agreement or
by law or otherwise afforded to any holder, shall be cumulative and not alternative.

          6.5 Third Parties. Nothing in this Agreement, express or implied, is intended to
confer upon any party, other than the parties hereto, and their respective successors and assigns,
any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as
expressly provided herein.

          6.6 Severability. If one or more provisions of this Agreement are held to be
unenforceable under applicable law, portions of such provisions, or such provisions in their
entirety, to the extent necessary, shall be severed from this Agreement, and the balance of this
Agreement shall be enforceable in accordance with its terms.

          6.7 Amendment and Waiver. Any provision of this Agreement may be amended or waived
with the written consent of the Company and the Holders of at least two-thirds of the outstanding
shares of the Registrable Securities then held by Holders (assuming the exercise or conversion of
all outstanding Eligible Securities); provided, however, (i) that in the event such
amendment or waiver adversely affects the rights and/or obligations of the Founders under this
Agreement in a different manner than the other Holders, such amendment or waiver shall also require
written consent of the Founders holding a majority of the then outstanding Founders Shares, (ii)
that in the event such amendment or waiver adversely affects the rights and/or obligations of
Lehman, EuclidSR, Piper Jaffray, GE Capital, Interwest, Alliance, and BMSIF under Section 2.4 of
this Agreement, such amendment or waiver shall not be effective as to Lehman, EuclidSR, Piper
Jaffray, GE Capital, Interwest or BMSIF, as the case may be, without the written consent of such
party, and (iii) that in the event such amendment or waiver adversely affects the rights and/or
obligations of Warrantholders under this Agreement in a different manner than the other Holders,
such amendment or waiver shall also require the written consent of Warrantholders holding a

-27-

 

majority of the then outstanding Warrant Shares. Notwithstanding the foregoing, any purchaser of
Series E Preferred Stock pursuant to the Purchase Agreement may become a party to this Agreement by
executing and delivering an additional counterpart signature page to this Agreement and such
purchaser shall be deemed a Holder and an Investor hereunder. The parties agree that Exhibit
A shall be updated automatically without any formal amendment to reflect the addition of any
such additional party. Any amendment or waiver effected in accordance with this paragraph shall be
binding upon each Holder, the Founders, the holder of the Other Shares, Warrantholders and the
Company. In addition, the Company may waive performance of any obligation owing to it, as to some
or all of the Holders, or agree to accept alternatives to such performance, without obtaining the
consent of any other Holder. In the event that an underwriting agreement is entered into between
the Company and any Holder, and such underwriting agreement contains terms differing from this
Agreement, as to any such Holder the terms of such underwriting agreement shall govern.

          6.8 Rights of Holders. Each Holder shall have the absolute right to exercise or
refrain from exercising any right or rights that such holder may have by reason of this Agreement,
including, without limitation, the right to consent to the waiver or modification of any obligation
under this Agreement, and such holder shall not incur any liability to any other holder of any
Securities as a result of exercising or refraining from exercising any such right or rights.

          6.9 Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall be enforceable against the parties actually executing such counterparts, and all of
which together shall constitute one instrument.

          6.10 Titles and Subtitles. The titles of the paragraphs and subparagraphs of this
Agreement are for convenience of reference only and are not to be considered in construing this
Agreement.

          6.11 Amendment and Restatement of Prior Agreement. The undersigned Prior Investors
who in the aggregate hold at least two-thirds of the outstanding Registrable Securities (as defined
in the Prior Agreement) and the undersigned Founders hereby amend and restate the Prior Agreement
pursuant to Section 6.7 thereof.

          6.12 Waiver of Right of First Offer. The undersigned Prior Investors who in the
aggregate hold at least two-thirds of the outstanding Registrable Securities (as defined in the
Prior Agreement) hereby waive on behalf of all Prior Investors any rights of participation or
notice under Section 3 of this Agreement and the Prior Agreement with respect to the securities
sold pursuant to the Purchase Agreement. By its execution below, Lighthouse waives any right of
participation or notice under Section 3 of this Agreement and Section 3 of the Prior Agreement with
respect to securities sold under the Purchase Agreement.

          6.13 Aggregation of Stock. All shares of Eligible Securities 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.

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          6.14 Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING (WHETHER
SOUNDING IN CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATED TO THIS AGREEMENT.

[Remainder
of Page Left Blank Intentionally]

-29-

 

FLUIDIGM
CORPORATION
FORM OF

AMENDMENT NO. 1 TO

EIGHTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

     THIS AMENDMENT NO. 1 (this “Amendment”) to that certain Eighth Amended and Restated Investor
Rights Agreement, dated as of June 13, 2006 (the “Rights Agreement”), by and among Fluidigm
Corporation, a California corporation (the “Company”), and the Investors and Founders named therein
is entered into this 22nd day of December, 2006 by and among the Company and the undersigned,
collectively the Holders of at least two-thirds of the outstanding shares of the Registrable
Securities then held by Holders (assuming the exercise or conversion of all outstanding Eligible
Securities). Capitalized terms not defined herein have the meanings set forth in the Rights
Agreement.

RECITALS

     A. It is contemplated that the Company will sell and issue additional shares of the Company’s
Series E Preferred Stock (“Series E Preferred Stock”) pursuant to that certain Series E Preferred
Stock Purchase Agreement, dated as of June 13, 2006 (the “Purchase Agreement”), by and among the
Company and the Purchasers named therein.

     B. In connection with the sale of additional shares of Series E Preferred Stock, the Company
and the Investors desire to (i) provide that the standoff agreement in Section 1.14 of the Rights
Agreement shall not apply to securities of the Company purchased by certain Holders in the Initial
Public Offering or in the public market for the Company’s securities following the Initial Public
Offering, and (ii) grant visitation rights pursuant to Section 2.4 of the Rights Agreement
collectively to Cross Creek Capital, L.P., Cross Creek Capital Employees’ Fund, L.P. and Wasatch
Small Cap Growth.

     C. The Company and the undersigned Holders of at least two-thirds of the outstanding shares of
the Registrable Securities then held by Holders (assuming the exercise or conversion of all
outstanding Eligible Securities) have agreed to amend the Rights Agreement to provide for the
foregoing changes to the standoff agreement in Section 1.14 and the visitation rights in Section
2.4.

AGREEMENT

     NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, all of the parties
hereto mutually agree as follows:

     SECTION 7 Amendment to Section 1.14. Section 1.14 (Standoff Agreement) of the Rights
Agreement is hereby amended and restated in its entirety as follows:

               “1.14 Standoff Agreement.

 

 

               (a) Each Holder agrees in connection with the first sale of the Company’s
Common Stock in a firm commitment underwritten public offering pursuant to an
effective registration statement under the Securities Act, upon notice by the
Company or the underwriters managing such public offering, not to sell, make any
short sale of, loan, pledge (or otherwise encumber or hypothecate), grant any option
for the purchase of, or otherwise directly or indirectly dispose of any Securities
(other than those included in the registration) without the prior written consent of
the Company and such managing underwriters for such period of time as the Board of
Directors establishes pursuant to its good faith negotiations with such managing
underwriters; provided, however that:

                    (i) such agreement shall not exceed one hundred eighty (180) days;

                    (ii) such agreement shall not apply to transfers to an Affiliate, provided that
such Affiliate agrees to be bound by the terms of such agreement, to the same extent
as if such transferee were the original party thereunder;

                    (iii) such agreement shall not apply to securities of the Company purchased by
AllianceBernstein Venture Fund I, L.P., SmallCap World Fund, Inc., Cross Creek
Capital, L.P., Cross Creek Capital Employees’ Fund, L.P. or Wasatch Small Cap Growth
or their respective Affiliates in the Initial Public Offering or in the public
market for the Company’s securities following the Initial Public Offering;

                    (iv) a Holder shall not be subject to such agreement unless (A) all executive
officers and directors of the Company, (B), all shareholders of the Company holding
more than 1% of the Company’s outstanding capital stock; and (C) all other Holders
and holders of other registration rights, are subject to or obligated to enter into
similar agreements; and

                    (v) if and when any person identified in clause (iv) is released, in whole or
in part, from such agreement (whether or not such release is contemplated at the
time of the offering) or if any such agreement is terminated, the Holder shall be
concurrently released on a pro rata basis based on the number of shares held by such
person and the Holder.

               (b) Each Holder agrees that prior to the Initial Public Offering it will not
transfer securities of the Company unless each transferee agrees in writing to be
bound by all of the provisions of this Section 1.14; provided that this Section
1.14(b) shall not apply to transfers pursuant to a registration statement.

               (c) Each Holder hereby consents to the placement of stop transfer orders with
the Company’s transfer agent in order to enforce the foregoing provision and agrees
to execute a market standoff agreement with said

-2-

 

underwriters in customary form consistent with the provisions of this Section 1.14.

     SECTION 8 Amendment to Section 2.4. Section 2.4 (Visitation Rights) of the Rights
Agreement is hereby amended and restated in its entirety as follows:

               “2.4 Visitation Rights. One representative chosen collectively by LB I Group
Inc., Lehman Brothers P.A. LLC, Lehman Brothers Partnership Account 2000/2001, L.P. and
Lehman Brothers Offshore Partnership Account 2000/2001, L.P. (collectively, “Lehman”), one
representative chosen collectively by EuclidSR Partners, L.P. and EuclidSR Biotechnology
Partners, L.P. (collectively, “EuclidSR”), one representative chosen by Piper Jaffray
Healthcare Fund III, L.P. (“Piper Jaffray”), one representative chosen by GE Capital Equity
Investments, Inc. (“GE Capital”), one representative chosen collectively by Interwest
Investors VII, L. P. and Interwest Partners VII, L.P. (collectively, “Interwest”), one
representative chosen by AllianceBernstein Venture Fund I, L.P. (“Alliance”), one
representative chosen collectively by Cross Creek Capital, L.P., Cross Creek Capital
Employees’ Fund, L.P. and Wasatch Small Cap Growth (collectively, “Wasatch”), and one
representative chosen by BMSIF shall have the right to attend all meetings of the Board of
Directors, including meetings of any committee of the Board and including the right to
participate in any telephonic board meetings, so long as such Investor holds at least
750,000 shares of Eligible Securities (as adjusted for stock splits and combinations and the
like). Said representative(s) shall be provided with notice of the meetings in the same
manner at the same time as the members of the Board of Directors and shall be provided with
any materials distributed to the Board of Directors in connection with board meetings. The
foregoing visitation rights may be limited by the Board of Directors if (i), upon the advice
of counsel, the Board of Directors determines that exclusion is required by third party
confidentiality agreements, (ii) the Board is discussing engaging Investor or an affiliate
of Investor as a financial advisor or underwriter; or (iii) the Board is discussing a
material transaction with an entity in which Investor or a private equity fund affiliated
with Investor is a 5% or greater shareholder, or (iv) the Board determines in good faith
upon advice of counsel that limitations are required to maintain attorney-client privilege.”

     SECTION 9 Amendment to Section 6.7. Section 6.7 (Amendment and Waiver) of the Rights
Agreement is hereby amended and restated in its entirety as follows:

               “6.7 Amendment and Waiver. Any provision of this Agreement may be amended
or waived with the written consent of the Company and the Holders of at least
two-thirds of the outstanding shares of the Registrable Securities then held by
Holders (assuming the exercise or conversion of all outstanding Eligible
Securities); provided, however, (i) that in the event such amendment
or waiver adversely affects the rights and/or obligations of the Founders under this
Agreement in a different manner than the other Holders, such amendment or waiver
shall also require written consent of the Founders holding a majority of the

-3-

 

then outstanding Founders Shares, (ii) that in the event such amendment or waiver
adversely affects the rights and/or obligations of Lehman, EuclidSR, Piper Jaffray,
GE Capital, Interwest, Alliance, Wasatch or BMSIF under Section 2.4 of this
Agreement, such amendment or waiver shall not be effective as to Lehman, EuclidSR,
Piper Jaffray, GE Capital, Interwest, Alliance, Wasatch or BMSIF, as the case may
be, without the written consent of such party, and (iii) that in the event such
amendment or waiver adversely affects the rights and/or obligations of
Warrantholders under this Agreement in a different manner than the other Holders,
such amendment or waiver shall also require the written consent of Warrantholders
holding a majority of the then outstanding Warrant Shares. Notwithstanding the
foregoing, any purchaser of Series E Preferred Stock pursuant to the Purchase
Agreement may become a party to this Agreement by executing and delivering an
additional counterpart signature page to this Agreement and such purchaser shall be
deemed a Holder and an Investor hereunder. The parties agree that Exhibit A
shall be updated automatically without any formal amendment to reflect the addition
of any such additional party. Any amendment or waiver effected in accordance with
this paragraph shall be binding upon each Holder, the Founders, the holder of the
Other Shares, Warrantholders and the Company. In addition, the Company may waive
performance of any obligation owing to it, as to some or all of the Holders, or
agree to accept alternatives to such performance, without obtaining the consent of
any other Holder. In the event that an underwriting agreement is entered into
between the Company and any Holder, and such underwriting agreement contains terms
differing from this Agreement, as to any such Holder the terms of such underwriting
agreement shall govern.”

     SECTION 10 Governing Law. This Amendment shall be construed in accordance with, and
governed in all respects by, the laws of the State of California, as applied to agreements entered
into, and to be performed entirely in such state, between residents of such state.

     SECTION 11 Counterparts. This Amendment may be executed in any number of
counterparts, each of which shall be enforceable against the parties actually executing such
counterparts, and all of which together shall constitute one instrument.

[Remainder of Page Intentionally Blank]

-4-

 

FLUIDIGM CORPORATION

AMENDMENT NO. 2 TO

EIGHTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

     THIS AMENDMENT NO. 2 (this “Amendment”) to that certain Eighth Amended and Restated Investor
Rights Agreement, dated as of June 13, 2006, as amended December 22, 2006 (the “Rights Agreement”),
by and among Fluidigm Corporation, a California corporation (“Fluidigm California”), and the
Investors and Founders named therein is entered into effective as of October 10, 2007 by and among
Fluidigm Corporation, a Delaware corporation (the “Company”), the undersigned Investors, and the
undersigned Holders, collectively the Holders of at least two-thirds of the outstanding shares of
the Registrable Securities held by Holders (assuming the exercise or conversion of all outstanding
Eligible Securities). Capitalized terms not defined herein have the meanings set forth in the
Rights Agreement.

RECITALS

     WHEREAS, on July 18, 2007, Fluidigm California was merged with and into the Company, with the
Company being the surviving corporation such that the Company succeeded to all of Fluidigm
California’s rights and obligations under the Rights Agreement;

     WHEREAS, it is contemplated that the Company will sell and issue additional shares of the
Company’s Series E Preferred Stock (“Series E Preferred Stock”) pursuant to that certain Series E
Preferred Stock Purchase Agreement, dated as of June 13, 2006, as amended December 22, 2006 and
further amended on the date hereof (the “Purchase Agreement”), by and among the Company and the
Purchasers named therein;

     WHEREAS, in connection with the sale of additional shares of Series E Preferred Stock, the
Company and the Holders desire to amend the Rights Agreement to include the additional shares of
Series E Preferred Stock to be issued pursuant to the Purchase Agreement and make certain other
changes as set forth herein; and

     WHEREAS, pursuant to Section 6.7 of the Rights Agreement, the Rights Agreement may be amended
with the written consent of the Company and Holders of at least two-thirds of the outstanding
shares of the Registrable Securities then held by Holders (assuming the exercise or conversion of
all outstanding Eligible Securities) and the Company and the undersigned Holders have agreed to
amend the Rights Agreement to provide for the foregoing changes.

     NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, all of the parties
hereto mutually agree as follows:

 

 

AGREEMENT

     SECTION 12 Amendment to Recital. The first Recital of the Rights Agreement is hereby
amended and restated in its entirety as follows:

“WHEREAS, the Company and the New Investors have entered into a Series E Preferred Stock
Purchase Agreement of even date herewith, as amended from time to time (such agreement, as
amended from time to time, the “Purchase Agreement”), pursuant to which the Company shall
sell, and the New Investors shall acquire, shares of the Company’s Series E Preferred
Stock;”

     SECTION 13 Amendment to Section 1.14. Subsection (a)(i) of Section 1.14 (Standoff
Agreement) of the Rights Agreement is hereby amended and restated in its entirety as follows:

“(i) such agreement shall not exceed one hundred and eighty (180) days (or such greater
period, not to exceed 17 days, 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);”

     SECTION 14 Deletion of Section 1.15. The Rights Agreement is hereby amended to delete
Section 1.15 (No Right to Delay Registration) in its entirety.

     SECTION 15 Amendment to Section 2.4. Section 2.4 (Visitation Rights) of the Rights
Agreement is hereby amended and restated in its entirety as follows:

               “2.4 Visitation Rights. One representative chosen collectively by LB I Group
Inc., Lehman Brothers P.A. LLC, Lehman Brothers Partnership Account 2000/2001, L.P. and
Lehman Brothers Offshore Partnership Account 2000/2001, L.P. (collectively, “Lehman”), one
representative chosen collectively by EuclidSR Partners, L.P. and EuclidSR Biotechnology
Partners, L.P. (collectively, “EuclidSR”), one representative chosen by Piper Jaffray
Healthcare Fund III, L.P. (“Piper Jaffray”), one representative chosen by GE Capital Equity
Investments, Inc. (“GE Capital”), one representative chosen collectively by Interwest
Investors VII, L. P. and Interwest Partners VII, L.P. (collectively, “Interwest”), one
representative chosen by AllianceBernstein Venture Fund I, L.P. (“Alliance”), one
representative chosen collectively by Cross Creek Capital, L.P., Cross Creek Capital
Employees’ Fund, L.P. and Wasatch Small Cap Growth (collectively, “Wasatch”), one
representative chosen by BMSIF, and one representative chosen collectively by the holders of
a majority of the Shares purchased under Amendment No. 2 to the Purchase Agreement
(collectively, the “October 2007 Representative”) shall have the right to attend all
meetings of the Board of Directors, including meetings of any committee of the Board and
including the right to participate in any telephonic board meetings, so long as such
Investor or the October 2007 Representative holds at least
750,000 shares of Eligible Securities (as adjusted for stock

-2-

 

splits and combinations and the like). Said representative(s) shall be provided with
notice of the meetings in the same manner at the same time as the members of the Board of
Directors and shall be provided with any materials distributed to the Board of Directors in
connection with board meetings. The foregoing visitation rights may be limited by the Board
of Directors if (i), upon the advice of counsel, the Board of Directors determines that
exclusion is required by third party confidentiality agreements, (ii) the Board is
discussing engaging Investor or an affiliate of Investor as a financial advisor or
underwriter; or (iii) the Board is discussing a material transaction with an entity in which
Investor or a private equity fund affiliated with Investor is a 5% or greater shareholder,
or (iv) the Board determines in good faith upon advice of counsel that limitations are
required to maintain attorney-client privilege.”

     SECTION 16 Amendment to Section 6.7. Section 6.7 (Amendment and Waiver) of the Rights
Agreement is hereby amended and restated in its entirety as follows:

               “6.7 Amendment and Waiver. Any provision of this Agreement may be amended or
waived with the written consent of the Company and the Holders of at least two-thirds of the
outstanding shares of the Registrable Securities then held by Holders (assuming the exercise
or conversion of all outstanding Eligible Securities); provided, however,
(i) that in the event such amendment or waiver adversely affects the rights and/or
obligations of the Founders under this Agreement in a different manner than the other
Holders, such amendment or waiver shall also require written consent of the Founders holding
a majority of the then outstanding Founders Shares, (ii) that in the event such amendment or
waiver adversely affects the rights and/or obligations of Lehman, EuclidSR, Piper Jaffray,
GE Capital, Interwest, Alliance, Wasatch, BMSIF or the October 2007 Representative under
Section 2.4 of this Agreement, such amendment or waiver shall not be effective as to Lehman,
EuclidSR, Piper Jaffray, GE Capital, Interwest, Alliance, Wasatch, BMSIF or the October 2007
Representative, as the case may be, without the written consent of such party, and (iii)
that in the event such amendment or waiver adversely affects the rights and/or obligations
of Warrantholders under this Agreement in a different manner than the other Holders, such
amendment or waiver shall also require the written consent of Warrantholders holding a
majority of the then outstanding Warrant Shares. Notwithstanding the foregoing, any
purchaser of Series E Preferred Stock pursuant to the Purchase Agreement may become a party
to this Agreement by executing and delivering an additional counterpart signature page to
this Agreement and such purchaser shall be deemed a Holder and an Investor hereunder. The
parties agree that Exhibit A shall be updated automatically without any formal
amendment to reflect the addition of any such additional party. Any amendment or waiver
effected in accordance with this paragraph shall be binding upon each Holder, the Founders,
the holder of the Other Shares, Warrantholders and the Company. In addition, the Company
may waive performance of any obligation owing to it, as to some or all of the Holders, or
agree to accept alternatives to such performance, without obtaining the
consent of any other Holder. In the event that an underwriting agreement is entered
into between the Company and any Holder, and such underwriting agreement contains terms

-3-

 

differing from this Agreement, as to any such Holder the terms of such underwriting
agreement shall govern.”

     SECTION 17 Addition of Section 6.15. The Rights Agreement is hereby amended to add
the following Section 6.15 which reads in its entirety as follows:

               “6.15 Reincorporation. Each Investor and Founder acknowledges that the Company
completed a reincorporation into the State of Delaware on July 18, 2007 and each Investor
and Founder hereby consents to the assignment of this Agreement to Fluidigm Corporation, a
Delaware corporation, effective as of July 18, 2007.”

     SECTION 18 Governing Law. This Amendment shall be construed in accordance with, and
governed in all respects by, the laws of the State of California, as applied to agreements entered
into, and to be performed entirely in such state, between residents of such state.

     SECTION 19 Rights Agreement. Wherever necessary, all other terms of the Rights
Agreement are hereby amended to be consistent with the terms of this Amendment. Except as
specifically set forth herein, the Rights Agreement shall remain in full force and effect

     SECTION 20 Counterparts. This Amendment may be executed in any number of
counterparts, each of which shall be enforceable against the parties actually executing such
counterparts, and all of which together shall constitute one instrument.

     SECTION 21 Effect of Execution of Amendment by Investor. This Amendment, when
executed and delivered by the Company and an Investor purchasing shares of Series E Preferred
pursuant to the Purchase Agreement as contemplated in the Recitals, shall also constitute and shall
be deemed a counterpart signature page to the Rights Agreement. Consequently, each undersigned
Investor purchasing shares of Series E Preferred acknowledges and agrees that he, she or it is
bound by the terms and conditions contained in the Rights Agreement, as amended by this Amendment.

[Remainder of Page Intentionally Blank]

-4-

 

FOUNDERS

Gajus V. Worthington

Stephen R. Quake

 

 

INVESTORS

Alejandro Berenstein, M.D.

Alfred J. Mandel

Allan Johnson

Allen May, Trustee, Intervivos Trust Dated 5/14/91

AllianceBernstein Venture Fund I, L.P.

Alloy Partners 2002, L.P.

Alloy Ventures 2002, L.P.

Alloy Ventures 2005, L.P.

Analiza, Inc.

Athersys, Inc.

Beveren Company

Biomedical Sciences Investment Fund Pte Ltd

Bradford S. Goodwin and Cathy W. Goodwin As Trustees of the Goodwin Family Trust U/A/D 7/30/97

Bradford W. Baer

Bruce Burrows

Burr & Forman LLP

Burwen Family Trust U/D/T Dated 9/30/88

Charles C. Moore

Charles R. Engles

Clark-Boyd Family Trust

Cross Creek Capital Employees’ Fund, L.P.

Cross Creek Capital, L.P.

David S. Frampton and Gaja Roberta Frampton, as Trustees of the Frampton Family Trust Dtd 4/25/03

Dwayne Hardy

Edward R. LeMoure

Erick Vanderburg

Erik T. Engelson, Trustee of the Elisabeth North Kuechler Engelson Trust UTA dated January 17, 2001

Erik T. Engelson, Trustee of the Erik T. Engelson Trust UTD dated March 29, 2000

EuclidSR Biotechnology Partners, L.P.

EuclidSR Partners, L.P.

Ferguson/Egan Family Trust Dated 6/28/99

Fidelity Contrafund: Fidelity Advisor New Insights Fund

Fidelity Contrafund: Fidelity Contrafund

Finnegan, Henderson, Farabow, Garrett & Dunner, LLP

Frances H. Arnold

Fred St. Goar

Fredrick Stern

 

 

Gary R. Bang

GE Capital Equity Investments, Inc.

General Electric Capital Corporation

George S. Taylor

Glaxo Group Limited

Health Care Administration Company

Heath Lukatch

Henry P. Massey, Jr. TTEE Massey Family Trust U/A DTD 7/06/88

Herbert L. Heyneker

Howard R. Engelson

Howard R. Engelson and Mariam T. Engelson, Ttees Engelson Fam Tr UA DTD 5/26/94

In-Q-Tel Employee Fund, LLC

In-Q-Tel, Inc.

Interwest Investors VII, L.P.

Interwest Partners VII, L.P.

Invus, L.P.

J.F. Shea Co., Inc. As Nominee 1999-114

Jacaranda Partners

James H. Eberwine

James W. Larrick, M.D.

John E. Strobeck, Ph.D., M.D.

John East

John M. Harland

Jonathan S. Hoot and Andrea T. Hoot, Trustees of the Hoot Family Revocable Trust DTD 3/16/99

Joseph M. Jacobson

Kenneth A. Clark

Kiley Revocable Trust

Kristin T. McClanahan Trust

Leerink Swann Co-Investment Fund, LLC

Leerink Swann Holdings, LLC

Lehman Brothers Healthcare Venture Capital L.P.

Lehman Brothers Offshore Partnership Account 2000/2001, L.P.

Lehman Brothers P.A. LLC

Lehman Brothers Partnership Account 2000/2001, L.P.

Leo J. Parry, Jr. and Roberta J. Parry TTEES Parry Family Revocable Trust DTD 01/22/97

Lighthouse Capital Partners V, L.P.

Lilly Bio Ventures, Eli Lilly and Company

Markwell Partners

Matthew Collier

Matthew Frank

Michael H. McKay

 

 

Michael J. Reardon Trust Agreement dated June 5, 1996

Needle & Rosenberg PC

Newman Family Investment Partnership

Oculus Pharmaceuticals, Inc.

Pamela East

Pat and Betsy Collins Revocable Trust

Patrick Tenney

Paul Machle

Pauline van Ysendoorn

Peter B. Dervan

Peter S. Heinecke

Rhett E. Brown

Robert D. McCulloch and Kathleen M. McCulloch, Trustee, or their successor(s)

Robert F. Kornegay, Jr. Revocable Trust u/d/t dated May 27, 2004, Robert F. Kornegay, Jr., Trustee

Security Trust Co., Custodian FBO Frank Ruderman IRA/RO

SightLine Healthcare Fund III, L.P.

Singapore Bio-Innovations Pte Ltd.

SMALLCAP World Fund, Inc.

SmithKline Beecham Corporation

Stanley D. Hayden, and his successor(s), as the Trustee of the Stanley D. Hayden Family Trust

Stephen J. Weiss

Stephen J. Weiss and Ursula G. Weiss, Trustees of the Weiss Family 1996 Trust

Stephen L. Parry

Technogen Liquidating Trust

The Condon Family Trust

The Heckmann Family Trust

The UAB Research Foundation

The V Foundation for Cancer Research

Thomas J. Parry

Thomas L. Barton

Tim L. Traff Trust

Timothy P. Lynch

TTC Fund I, LLC

Variable Insurance Products Fund II: Contrafund Portfolio

Versant Affiliates Fund 1-A, L.P.

Versant Affiliates Fund 1-B, L.P.

Versant Side Fund I, L.P.

Versant Venture Capital I, L.P.

Wasatch Funds, Inc.

William L. Caton III, M.D.

William L. Traff Trust

 

 

William S. Brown and Barbara G. Brown, or their successors, as Trustees of the Brown FRT DTD
3/10/99

WS Investment Company 2000B

WS Investment Company 99B

WS Investment Company, LLC (2001D)

 

 

EXHIBIT
E

FORM
OF LEGAL OPINION

 

June   , 2006

AllianceBernstein L.P.

1345 Avenue of the Americas

New York, New York 10105

Ladies and Gentlemen:

     Reference is made to the Series E Preferred Stock Purchase Agreement dated as of June   , 2006
(the “Agreement”) by and among Fluidigm Corporation, a California corporation (the “Company”), and
the persons and entities listed in Exhibit A to the Agreement (the “Investors”), which provides for
the issuance by the Company to the Investors of shares of Series E Preferred Stock of the Company
(the “Shares”). This opinion is rendered to the Investors in the Initial Closing pursuant to
Section 4.5 of the Agreement, and all terms used herein have the meanings defined for them in the
Agreement unless otherwise defined herein. Reference in this opinion to the Agreement excludes any
schedule or substantive agreement attached as an exhibit to the Agreement, unless otherwise
indicated herein.

     We have acted as counsel for the Company in connection with the negotiation of the Agreement
and the Investor Rights Agreement (collectively, the “Transaction Documents”) and the issuance of
the Shares. As such counsel, we have made such legal and factual examinations and inquiries as we
have deemed advisable or necessary for the purpose of rendering this opinion. In addition, we have
examined originals or copies of such corporate records of the Company, certificates of public
officials and such other documents which we consider necessary or advisable for the purpose of
rendering this opinion. In such examination we have assumed the genuineness of all signatures on
original documents, the authenticity and completeness of all documents submitted to us as
originals, the conformity to original documents of all copies submitted to us and the due execution
and delivery of all documents (except as to due execution and delivery by the Company) where due
execution and delivery are a prerequisite to the effectiveness thereof.

     As used in this opinion, the expression “to our knowledge,” “known to us” or similar language
with reference to matters of fact refers to the current actual knowledge of attorneys of this firm
who have worked on matters for the Company in connection with the Agreement and the transactions
contemplated thereby. Except to the extent expressly set forth herein or as we otherwise believe
to be necessary to our opinion, we have not undertaken any independent investigation to determine
the existence or absence of any fact, and no inference as to our knowledge of the existence or
absence of any fact should be drawn from our representation of the Company or the rendering of the
opinion set forth below.

 

 

AllianceBernstein L.P.

Dated as of June   , 2006

Page 2

     For purposes of this opinion, we are assuming that each Investor has all requisite power and
authority, and has taken any and all necessary corporate or partnership action, to execute and
deliver the Transaction Documents and to effect any and all transactions related to or contemplated
thereby. In addition, we are assuming that the Investors have purchased the Shares for value, in
good faith and without notice of any adverse claims within the meaning of the California Uniform
Commercial Code.

     We are members of the Bar of the State of California and we express no opinion as to any
matter relating to the laws of any jurisdiction other than the federal laws of the United States of
America and the laws of the State of California.

     In rendering the opinion in paragraph 6 below, we note that we have not conducted a docket
search in any jurisdiction with respect to litigation that may be pending against the Company or
any of its officers or directors. We further note the disclosure under Section 2.10 of the
Schedule of Exceptions to the Agreement. Please be advised that we have not represented the
Company with respect to the matters disclosed in Section 2.10 of the Schedule of Exceptions and
express no opinion with respect to any matter discussed therein.

     The opinions hereinafter expressed are subject to the following additional qualifications:

          (a) We express no opinion as to the effect of applicable bankruptcy, insolvency,
reorganization, moratorium or other similar federal or state laws affecting the rights of
creditors.

          (b) We express no opinion as to the effect or availability of rules of law governing specific
performance, injunctive relief or other equitable remedies (regardless of whether any such remedy
is considered in a proceeding at law or in equity).

          (c) This opinion is qualified by the limitations imposed by statutes and principles of law and
equity that provide that certain covenants and provisions of agreements are unenforceable where
such covenants or provisions are unconscionable or contrary to public policy or where enforcement
of such covenants or provisions under the circumstances would violate the enforcing party’s implied
covenant of good faith and fair dealing.

          (d) Our opinion in the first sentence of paragraph 1 below is based solely on the certificates
of public officials and filing officers as to the corporate and tax good standing of the Company in
the State of California.

          (e) Our opinions set forth in paragraph 3 below relating to the outstanding capital stock of the
Company and outstanding options, warrants or similar rights to acquire shares of the Company’s
capital stock are based solely on (i) our review of a report from eProsper, Inc., the

 

 

AllianceBernstein L.P.

Dated as of June   , 2006

Page 3

Company’s transfer agent, detailing the holders of securities of the Company and the number
and type of securities held by such holders (the “Transfer Agent Report”) and (ii) a certificate
delivered to us by the Company regarding factual matters underlying the opinions set forth herein.
Our opinion in paragraph 3 below that the issued and outstanding shares of Common Stock and
Preferred Stock of the Company are fully paid and non-assessable is based solely on a certificate
of an officer of the Company that the Company received, in payment for such shares, the full
consideration required by the resolutions of the Board of Directors of the Company authorizing the
issuance of such shares.

          (f) For purposes of our opinions in paragraph 2 and paragraph 4 below, we have assumed that
the Transfer Agent Report is accurate and complete in all respects.

          (g) We express no opinion as to compliance with the anti-fraud provisions of applicable
securities laws.

          (h) We express no opinion as to the enforceability of any indemnification or contribution
provision, including, without limitation, the indemnification and contribution provisions of the
Investor Rights Agreement and the indemnification provision in the Agreement, to the extent the
provisions thereof may be subject to limitations of public policy and the effect of applicable
statutes and judicial decisions.

          (i) We express no opinion as to the enforceability of choice of law provisions, waivers of
jury trial or provisions relating to venue or jurisdiction.

          (j) We have made no inquiry into, and express no opinion with respect to, any federal or state
statute, rule, or regulation relating to any tax, antitrust, land use, safety, environmental,
hazardous material, patent, copyright, trademark or trade name matter, as to the statutes,
regulations, treaties or common laws of any other nation (other than the United States), state or
jurisdiction (other than the State of California), or the effect on the transactions contemplated
in the Transaction Documents of noncompliance under any such statues, regulations, treaties, or
common laws. Without limiting the foregoing, we express no opinion as to the effect of, or
compliance with, the Investment Advisors Act of 1940, as amended, or the Employee Retirement Income
Security Act of 1974, as amended. We further disclaim any opinion as to any statute, rule,
regulation, ordinance, order, or other promulgation of any regional or local governmental body or
as to any related judicial or administrative opinion.

          (k) Our opinions relate solely to the express written provisions of the Transaction Documents,
and we express no opinion as to any other oral or written agreements or understandings between the
Company or any of the Investors.

 

 

AllianceBernstein L.P.

Dated as of June   , 2006

Page 4

     Based upon and subject to the foregoing, and except as set forth in the Schedule of Exceptions
to the Agreement, we are of the opinion that:

     1. The Company is a corporation duly incorporated and validly existing under, and by virtue
of, the laws of the State of California and is in good standing under such laws. The Company has
requisite corporate power to own and operate its properties and assets, and to carry on its
business as presently conducted.

     2. The Company has all requisite legal and corporate power to execute and deliver the
Transaction Documents, to sell and issue the Shares under the Agreement, to issue the Common Stock
issuable upon conversion of the Shares and to carry out and perform its obligations under the terms
of the Transaction Documents.

     3. The authorized capital stock of the Company consists of 77,857,144 shares of Common Stock,
9,274,356 shares of which are issued and outstanding, and 51,687,948 shares of Preferred Stock,
2,727,273 of which are designated Series A Preferred Stock, 2,727,273 shares of which are issued
and outstanding, 6,460,675 of which are designated Series B Preferred Stock, 6,460,675 shares of
which are issued and outstanding, 17,000,000 of which are designated Series C Preferred Stock,
16,364,832 shares of which are issued and outstanding, 15,500,000 shares of Series D Preferred
Stock, 11,714,048 of which are issued and outstanding, and 10,000,000 shares of Series E Preferred
Stock, none of which has been issued or outstanding immediately prior to the Initial Closing. All
such issued and outstanding shares of Common Stock and Preferred Stock have been duly authorized
and validly issued and are fully paid and nonassessable.  The Company has reserved:
(i) 5,000,000 shares of Series E Preferred Stock for issuance pursuant to the Agreement and
5,000,000 shares of Common Stock for issuance upon conversion of such shares of Series E Preferred
Stock; (ii) 11,714,048 shares of Common Stock for issuance upon conversion of the Series D
Preferred Stock, (iii) 916,335 shares of Series D Preferred Stock for issuance upon exercise of
outstanding warrants and 916,335 shares of Common Stock for issuance upon conversion of such Series
D Preferred Stock; (iv) 16,364,832 shares of Common Stock for issuance upon conversion of the
Series C Preferred Stock; (v) 294,868 shares of Series C Preferred Stock for issuance upon exercise
of outstanding warrants and 294,868 shares of Common Stock for issuance upon conversion of such
Series C Preferred Stock; (vi) 6,460,675 shares of Common Stock for issuance upon
conversion of the Series B Preferred Stock; (vii) 2,727,273 shares of Common Stock for
issuance upon conversion of the Series A Preferred Stock; and (viii) an aggregate of 10,800,000
shares of Common Stock for issuance to employees and consultants of the Company pursuant to the
Company’s 1999 Stock Option Plan (the “Option Plan), pursuant to which options to purchase
5,597,763 shares are granted and outstanding and 1,554,643 shares are available for future grant.
The Common Stock issuable upon conversion of the Shares has been duly authorized and duly and
validly reserved, and when issued in accordance with the Company’s Articles of Incorporation, will

 

 

AllianceBernstein L.P.

Dated as of June   , 2006

Page 5

be validly issued, fully paid and nonassessable. The Shares issued under the
Agreement are duly authorized, validly issued, fully paid and nonassessable and are free of any
liens, encumbrances and preemptive or similar rights contained in the Articles of Incorporation or
Bylaws of the Company, or, to our knowledge, in any written agreement to which the Company is a
party, except as specifically provided in the Agreement (including its Exhibits) and except for
liens or encumbrances created by or imposed upon the Investors; provided, however, that
the Shares (and the Common Stock issuable upon conversion thereof) are subject to restrictions on
transfer under applicable state and federal securities laws. To our knowledge, except for rights
described above, in the Transaction Documents (including the Schedule of Exceptions to the
Agreement) or in the Articles of Incorporation of the Company, as of the date of the Agreement,
there are no other options, warrants, conversion privileges or other rights in writing presently
outstanding to purchase or otherwise acquire any authorized but unissued shares of capital stock or
other securities of the Company, or any other written agreements of the Company to issue any such
securities or rights; provided, however, we note the Company’s intent to comply
with Section 3 of the Investor Rights Agreement following the Initial Closing. 

     4. All corporate action on the part of the Company, its directors and shareholders necessary
for the authorization, execution and delivery of the Transaction Documents by the Company, the
authorization, sale, issuance and delivery of the Shares (and the Common Stock issuable upon
conversion thereof) and the performance by the Company of its obligations under the Transaction
Documents (other than those registration obligations contained in Section 1 of the Investor Rights
Agreement) has been taken. The Transaction Documents have been duly and validly executed and
delivered by the Company and constitute a valid and binding obligation of the Company, enforceable
against the Company in accordance with their terms.

     5. The execution and delivery by the Company of the Transaction Documents, the performance by
the Company of its obligations under the Transaction Documents, and the issuance of the Shares (and
the Common Stock issuable upon conversion thereof) do not violate any provision of the Articles of
Incorporation or Bylaws, or any provision of any applicable federal or state law, rule or
regulation known to us to be customarily applicable to transactions of this nature. The execution
and delivery by the Company of the Transaction Documents, the performance by the Company of its
obligations under the Transaction Documents, and the issuance of the Shares (and the Common Stock
issuable upon conversion thereof) do not violate any judgment or decree known to us that is binding
upon the Company.

     6. Except as identified in the Agreement (including the Schedule of Exceptions), to our
knowledge, there are no actions, suits, proceedings or investigations pending against the Company
or its properties before any court or governmental agency nor, to our knowledge, has the Company
received any written threat thereof.

 

 

AllianceBernstein L.P.

Dated as of June   , 2006

Page 6

     7. No consent, approval or authorization of or designation, declaration or filing with any
governmental authority on the part of the Company is required in connection with the valid
execution and delivery of the Transaction Documents, or the offer, sale or issuance of the Shares
(and the Common Stock issuable upon conversion thereof) or the consummation by the Company of any
other transaction contemplated by the Transaction Documents, except (a) the filing of the Amended
and Restated Articles of Incorporation in the Office of the Secretary of State of the State of
California, and (b) subject to the accuracy of the representations and warranties of the Investors
in Section 3 of the Agreement, (i) the filing after the Closing of a Form D pursuant to Regulation
D, promulgated by the United States Securities and Exchange Commission (the “SEC”) under the
Securities Act of 1933, as amended (the “Securities Act”), with the SEC, and (ii) the post-Closing
qualification (or the taking of such action post-Closing as may be necessary to secure an exemption
from qualification) under applicable state securities laws of the offer and sale of the Shares (and
the Common Stock issuable upon conversion thereof). The filing referred to in clause (a) above has
been accomplished and is effective. Our opinion herein is otherwise subject to the timely and
proper completion of all filings and other actions contemplated herein where such filings and
actions are to be undertaken on or after the date hereof.

     8. Subject to the accuracy of the Investors’ representations in Section 3 of the Agreement,
the offer, sale and issuance of the Shares (and the Common Stock issuable upon
conversion thereof) in conformity with the terms of the Agreement constitute transactions
exempt from the registration requirements of Section 5 of the Securities Act.

     This opinion is furnished to the Investors solely for their benefit in connection with the
purchase of the Shares, and may not be relied upon by any other person or for any other purpose
without our prior written consent. We assume no obligation to inform you of any facts,
circumstances, events or changes in the law that may arise or be brought to our attention after the
date of this opinion that may alter, affect or modify the opinions expressed herein.

	 	 	 	 	 
	 	Very truly yours,exv4w4

[***] Indicates
text has been omitted from this Exhibit pursuant to a confidential treatment
request and has been filed separately with the Securities and Exchange Commission.

Exhibit 4.4

Loan
and Security Agreements

This
Loan and Security Agreement No. 4561 (this “Agreement”) is entered into as of March
29, 2005, by and between
Lighthouse Capital
Partners V, L.P. (“Lender”) and
Fluidigm
Corporation, a California corporation (“Borrower” or sometimes referred to herein as “Debtor”)
and sets forth the terms and conditions upon which Lender will lend and Borrower will repay money.
In consideration of the mutual covenants herein contained, the parties agree as follows:

1. Definitions and Construction

1.1 Definitions. Initially capitalized terms used and not otherwise defined herein are
defined in the California Uniform Commercial Code (“UCC”).

“ACH” means the Automated Clearing House electronic funds transfer system.

“Advance” means a Loan advanced by Lender to Borrower hereunder.

“Basic Rate” means a variable per annum rate of interest equal to the Index plus the Interest
Margin which shall be subject to adjustment as provided in the Loan Agreement and/or the Note. On
and after the Loan Commencement Date the Basic Rate shall be fixed and not subject to any further
adjustments.

“Borrower’s Books” means all of Borrower’s books and records, including records concerning
Collateral, Borrower’s assets, liabilities, business operations or financial condition, on any
media, and the equipment containing such information.

“Change
of Management or Board Composition” means that (i) Borrower’s senior management shall not
include Gajus Worthington; (ii) Versant Ventures shall cease to have a representative (currently
Samuel Colella) serving on Borrower’s Board of Directors; or(iii) Lehman Brothers shall cease to
have a representative (currently Hingge Hsu) serving on Borrower’s Board of Directors;.

“Collateral” means: (i) all property listed on Exhibit A attached hereto; and (ii) all products
and proceeds of the foregoing, including proceeds of insurance and proceeds of proceeds, provided
that, notwithstanding anything to the contrary contained in this Agreement, the term Collateral
shall not include (a) any property that is subject to a Lien that is otherwise permitted pursuant
to subsection (v) of the definition of ‘Permitted Liens” and Lender agrees to execute any
instruments or documents necessary to evidence the intent of the foregoing; (b) more than 65% of
the issued and outstanding voting securities of any Subsidiary of Borrower that is not
incorporated or organized in the United States; or (c) any of the Company’s Intellectual Property
(as defined below).

“Commitment” means
$13,000,000.

“Commitment Fee” means $10,000.

“Commitment Termination Date” means the earliest to occur of (i) the earlier to occur of (a) June
1, 2005, if Borrower has not borrowed at least $2,000,000 by such date; (b) September 1, 2005, if
Borrower has not borrowed an additional $3,000,000 by such date or (c) December 1, 2005; (ii) any
Default or Event of Default that has not been cured by Borrower or waived in writing by Lender, or
(iii) Change of Management or Board Composition (unless Lender has waived this condition in
writing).

“Control Agreement” means an agreement substantially in the form of Exhibit I or otherwise
reasonably acceptable to Lender.

“Default” means any event that with the passing of time or the
giving of notice or both would become an Event of Default.

“Default Rate” means the lesser of
5% per annum above the otherwise applicable rate or the highest rate permitted by applicable
law.

“Disclosure Schedule” means the Disclosure Schedule, dated as of the date hereof, and delivered to
Lender in connection with the execution and delivery of this Agreement.

“Event of Default” is defined in Section 8.

“Funding Date” means any date on which an Advance is made to or on account of Borrower hereunder.

“Indebtedness” means (i) all indebtedness for borrowed money or the deferred purchase of property
or services, (ii) all obligations evidenced by notes, bonds, debentures or similar instruments,
(iii) all capital lease obligations, and (iv) all contingent obligations, consisting of guaranties
of Indebtedness of other persons and obligations of reimbursement with respect to letters of
credit.

1

 

“Incumbency Certificate” means the document in the form of Exhibit E.

“Index” means the prevailing variable Prime Rate of annual interest as quoted from time to time in
the western edition of the Wall Street Journal.

“Intellectual Property” means, collectively, all rights, priorities and privileges of the Borrower
relating to intellectual property, in any medium, of any kind or nature whatsoever, now or
hereafter owned or acquired or received by Borrower, or in which Borrower now holds or hereafter
acquires or receives any right or interest, whether arising under United States, multinational or
foreign laws or otherwise, including, without limitation, any and all property of the Borrower
that is subject to, listed in or otherwise described in the Negative Pledge Agreement dated March
29, 2005 between Borrower and Lender, and shall include, in any event, all copyrights, copyright
licenses, patents, patent licenses, trademarks, trademark licenses, trade secrets, internet domain
names (including any right related to the registration thereof), proprietary or confidential
information, mask works, sources object or other programming codes, inventions (whether or not
patented or patentable), technical information, procedures, designs, knowledge, know-how,
software, data base, data, skill, expertise, recipe, experience, process, models, drawings,
materials or records. Notwithstanding the foregoing, Intellectual Property as defined above does
not include proceeds or other revenue consisting of accounts, accounts receivable, royalties,
licensing fees, or payment intangibles, obtained or owed from or on account of the licensing or
other exploitation or disposition of Intellectual Property, and all of which are included as
Collateral in the security interest granted by Borrower to Lender.

“Interest Margin” means 2.5% per annum.

“Lender’s Expenses” means all reasonable costs or expenses (including reasonable attorneys’ fees
and expenses) incurred in connection with the preparation, negotiation, modification,
administration, or enforcement of the Loan or Loan Documents, or the exercise or preservation of
any rights or remedies by Lender, whether or not suit is brought. Lender will apply deposits
(including the Commitment Fee) received by Lender, if any, towards Lender’s Expenses.

“Lien” means any lien, security interest, pledge, bailment, lease, mortgage, hypothecation,
conditional sales and title retention agreement, charge, claim, or other encumbrance.

“Liquidation Event” means any of: (i) a merger of Borrower with another entity, other than a
merger whereby the shareholders of Borrower immediately prior to such merger own at least 50% of
the outstanding voting securities of Borrower immediately after such merger; (ii) the sale (in one
or a series of related transactions) of all or substantially all of Borrower’s assets; or (iii)
any transaction (or series of related transactions) whereby the shareholders of Borrower
immediately prior to such transaction(s) own less than 50% of the outstanding voting securities of
Borrower immediately after such transaction(s).

“Loan” means all of the Advances, however evidenced, and all other amounts due or to
become due hereunder.

“Loan
Commencement Date” means March 1, 2006.

“Loan Documents” means, collectively, this Agreement, the Warrant, the Notes, the Financing
Statement and Security Agreement in the form attached as Exhibit A and all other documents,
instruments and agreements entered into between Borrower and Lender in connection with the Loan,
all as amended or extended from time to time.

“Negative Pledge Agreement” means an agreement, dated as of the date hereof, in the form of Exhibit
H.

“Note” means each Secured Promissory Note in the form of Exhibit B, delivered in connection with
each Advance.

“Notice
of Borrowing” means the form attached as Exhibit D.

“Obligations” means all Loans, debt, principal, interest, fees, charges, Lender’s Expenses and
other amounts, obligations, covenants, and duties owing by Borrower to Lender of any kind or
description (whether pursuant to the Loan Documents or otherwise (with the exception of the
Warrant), and whether or not for the payment of money), whether direct or indirect, absolute or
contingent, due or to become due, now existing or hereafter arising, and including any of the same
obtained by Lender by assignment or otherwise, and all amounts Borrower is required to pay or
reimburse by the Loan Documents, by law, or otherwise.

“Permitted Indebtedness” means: (i) the Loan; (ii) unsecured trade debt incurred in the ordinary
course of Borrower’s business; (iii) Indebtedness secured by clause (ii) and (v) of Permitted
Liens; (iv) Subordinated Indebtedness; (v) Indebtedness existing as of the date hereof and listed
on the Disclosure Schedule; (vi) Indebtedness arising from the endorsement of negotiable
instruments for deposits or
collections or similar transactions in the ordinary course of business; (vii) other Indebtedness
consisting of letters of credit and

2

 

reimbursement obligations in an amount not to exceed $250,000; (viii) Indebtedness of (A) Borrower
to any Subsidiary that is unsecured, (B) one Subsidiary to another Subsidiary, or (C) any
Subsidiary to Borrower in an amount not to exceed $4,500,000 in the aggregate; (ix) other
Indebtedness in an outstanding principal amount not to exceed $150,000 in the aggregate; and (x)
Indebtedness incurred in connection with the extension, renewal or refinancing of any Indebtedness
of the type described in clauses (i) through (ix) above, provided that the principal amount of such
Indebtedness does not increase other than any reasonable premium in connection therewith.
Notwithstanding the foregoing, the restrictions on Indebtedness for Subordinated Indebtedness and
referenced in clause (v) of the definition of Permitted Liens shall cease at the effective date of
a public offering of Borrower’s capital stock which results in proceeds of at least $25,000,000.

“Permitted Liens” means: (i) Liens in favor of Lender; (ii) Liens disclosed in the Disclosure
Schedule; (iii) Liens for taxes, fees, assessments or other governmental charges or levies not
delinquent or being contested in good faith by appropriate proceedings, that do not jeopardize
Lender’s interest in any Collateral; (iv) Liens to secure payment of worker’s compensation,
employment insurance, old age pensions or other social security obligations of Borrower on which
Borrower is current and are in the ordinary course of its business; provided none of the same
diminish or impair Lender’s rights and remedies respecting the Collateral; and (v) Liens upon or
in any equipment (including any accessions, attachments, replacements, improvements or proceeds
thereto) acquired or held by Borrower to secure the purchase price of such equipment or
Indebtedness incurred solely for the purposes of financing such equipment, provided that the
aggregate outstanding principal amount of all such financing shall not exceed $5,000,000, (vi)
license or sublicenses of Intellectual Property granted in the ordinary course of business; (vii)
banker’s Liens, rights of setoff and similar Liens incurred on deposit and securities accounts in
the ordinary course of business; (viii) Liens arising from judgments in circumstances not
constituting and Event of Default; (ix) Liens in favor of customs and revenue authorities arising
as a matter of law to secure payments of customs duties in connections with the importation of
goods; (x) Liens on insurance proceeds in favor of insurance companies granted solely as security
for financed premiums; (xi) carriers’, warehousemen’s, mechanics’, landlords’, materialmen’s,
repairmen’s or other similar Liens arising in the ordinary course of business which are not
delinquent or remain payable without penalty or which are being contested in good faith and by
appropriate proceedings; (xii) Liens with respect to cash collateral to secure Indebtedness
otherwise permitted pursuant to clause (vii) of the definition of Permitted Indebtedness; and
(xiii) Liens incurred in connection with the extension, renewal or refinancing of the Indebtedness
secured by Liens of the type described in clauses (i) through (xi) above, provided that any
extension, renewal, or replacement Lien shall be limited to the collateral securing the existing
Lien and the principal amount of such Indebtedness does not increase other than any reasonable
premium in connection therewith.

“Regulated Substance” means any substance, material or waste the use, generation, handling,
storage, treatment or disposal of which is regulated by any local or state government authority,
including any of the same designated by any authority as hazardous, genetic, cloning, fetal, or
embryonic.

“Responsible Officer” means each person as authorized by the board of directors of Borrower as set
forth on the Incumbency Certificate.

“Subordinated Indebtedness” means Indebtedness of Borrower to Singapore EDB and Invus Group that
is subordinated in both security and right of payment to the Obligations on terms and conditions
reasonably satisfactory to Lender in an amount not to exceed $6,000,000.

“Subsidiary” shall mean any entity of which a majority of the outstanding equity interests
entitled to vote for the election of directors is owned by Borrower.

“Term” means the period from and after the date hereof until the full, final and indefeasible
payment and performance of all Obligations.

“Warrant” means the Warrant, dated as of the date hereof, in favor of Lender and its affiliates to
purchase securities of Borrower substantially in the form of Exhibit C.

1.2 Interpretation. References to “Articles,” “Sections,” “Exhibits,” and “Schedules” are to
articles, sections, exhibits and schedules herein and hereto unless otherwise indicated. “Hereof,”
“herein” and “hereunder” refer to this Agreement as a whole. “Including” is not limiting. All
accounting and financial computations shall be computed in accordance with generally accepted
accounting principles consistently applied (“GAAP”). “Or” is not necessarily exclusive. All
interest computation interest shall be based on a 360-day year and actual days elapsed.

2. The Loans

2.1
Commitment. Subject to the terms hereof, Lender will make Advances to Borrower up to the principal amount of the Commitment,
before the Commitment Termination Date. Notwithstanding anything in the Loan Documents to the contrary, Lender’s obligation to make any Advances or to lend the undisbursed portion of the Commitment shall terminate on the Commitment Termination Date. Repaid principal of the Advances may not be re-borrowed.

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2.2 The Advances. A Note setting forth the specific terms of repayment will evidence each
Advance. No Advance will be made for
less than $1,000,000, unless less than $1,000,000 remains available under the Commitment for
borrowing. Absence of a Note evidencing
any portion of the Loan shall not impair Borrower’s obligation to repay it to Lender.

2.3
Terms of Payment, Repayment.

     (a) Repayment. Borrower shall repay the principal and pay interest on each Advance on the
terms set forth in the applicable Note. Amounts not paid when due hereunder or under the Note shall bear interest
at the Default Rate. If a court of competent jurisdiction determines that Lender has received payments that, if interest, would
exceed the maximum lawfully permitted, Lender will instead apply such money to fees and expenses and then to early prepayment of
principal (provided that notwithstanding anything contained in any Loan Document, any such prepayment shall not trigger any
Prepayment Fees).

     (b) ACH. All payments due to Lender must be, at Lender’s option, paid to Lender in cash or
through ACH. Borrower
shall execute and deliver the ACH Authorization Form substantially in the form of Exhibit G.
Lender shall provide Borrower an
invoice for any Obligations that are to be transferred by ACH at least 10 days in advance of
the date of any ACH funds transfer with
respect to Obligations which have become due and payable and are to be transferred by ACH.
If the ACH payment arrangement is
terminated for any reason, Borrower shall make all payments due to Lender at Lender’s
address specified in Section 11.

     (c) Default Rate. While an Event of Default has occurred and is continuing, interest on the
Loan shall be increased to
the Default Rate. Lender’s failure to charge or accrue interest at the Default Rate during
the existence of a Default shall not be deemed
a waiver by Lender of its right or claim thereto.

     (d) Date. Whenever any payment due under the Loan Documents is due on a day other than a
business day, such
payment shall be made on the next succeeding business day, and such extension of time shall
be included in the computation of interest or fees, as the case may be.

2.4 Fees. Borrower shall pay to Lender the following:

     (a) Commitment Fee. The Commitment Fee, which has been previously paid by Borrower,
and shall be applied by Lender to Lender’s Expenses and other Obligations;

     (b) Late Fee. On demand, a late charge on any sums due hereunder that are not paid when due,
in an amount equal to 2%
of the past due amount, payable on demand.

     (c) Lender’s Expenses. The payment of all Lender’s Expenses, which may become due to Lender
by Borrower
hereunder shall be payable by Borrower as set forth in Section 2.3(b). Lender’s Expenses not
paid when due shall bear interest as
principal at the Default Rate.

3. Conditions of Advances; Procedure for Requesting Advances

3.1 Conditions Precedent to any and all Advances. The obligation of Lender to make any Advances is
subject to each and
every of the following conditions precedent in form and substance satisfactory to Lender in its
sole discretion: (i) this Agreement, a
Note evidencing the Advance, the Warrant, and all other UCC financing statements, and other
documents required or as specified herein
have been duly authorized, executed and delivered; (ii) no Default or Event of Default has
occurred and is continuing; (iii) delivery of a
Notice of Borrowing with respect to the proposed Advance; (iv) Lender’s security interests in the
Collateral are valid and first priority,
except for Permitted Liens; and (v) all such other items as Lender may reasonably deem necessary
or appropriate have been delivered or
satisfied. The extension of an Advance prior to the receipt by Lender of any of the foregoing
shall not constitute a waiver by Lender of
Borrower’s obligation to deliver such item.

3.2 Procedure for Making Advances. For any Advance, Borrower shall provide Lender an irrevocable
Notice of Borrowing at
least 7 business days prior to the desired Funding Date and Lender shall only be required to make
Advances hereunder based upon
written requests which comply with the terms and exhibits of this Loan Agreement (as the same may
be amended from time to time),
and which are submitted and signed by a Responsible Officer. Borrower shall execute and deliver to
Lender a Note and such other
documents and instruments as Lender may reasonably require for each Advance made.

4. Creation of Security Interest

4.1
Grant of Security Interest. Borrower grants to Lender a valid, first priority,
continuing security interest in all present and future Collateral in order to secure prompt,
full, faithful and timely payment and performance of all Obligations.

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4.2 Inspections. Lender shall have the right upon reasonable prior notice to inspect Borrower’s
Books, including computer files,
and to make copies, and to test, inspect and appraise the Collateral, in order to verify any matter
relating to Borrower or the Collateral.

4.3 Authorization to File Financing Statements. Borrower irrevocably authorizes Lender at any time
and from time to time to
file in any jurisdiction any financing statements and amendments that: (i) name Collateral as
collateral thereunder, regardless of
whether any particular Collateral falls within the scope of the UCC; (ii) contain any other
information required by the UCC for
sufficiency or filing office acceptance, including organization identification numbers; and (iii)
contain such language as Lender
determines helpful in protecting or preserving rights against third parties. Borrower ratifies any
such filings made prior to the date
hereof.

5. Representations and Warranties

Except as set forth on the Disclosure Schedule, Borrower represents and warrants as follows:

5.1 Due Organization and Qualification. Borrower is a corporation duly formed, existing and in good
standing under the laws
of its state of incorporation and qualified and licensed to do business in, and is in good standing
in, any state in which the conduct of its
business or its ownership of property requires that it be so qualified or in which the Collateral
is located, except to the extent that such
non-compliance would not reasonably be expected to result in an adverse effect on Borrower’s
business.

5.2 Authority. Borrower has all corporate power and authority, and has taken all actions, and has
obtained all third party
consents necessary to execute, deliver, and perform the Loan Documents.

5.3 Disclosure Schedule. All information on the Disclosure Schedule is true, correct and complete.

5.4 Authorization; Enforceability. The execution and delivery hereof, the granting of the security
interest in the Collateral, the
incurring of the Obligations, the execution and delivery of all Loan Documents and the consummation
of the transactions herein and
therein contemplated have been duly authorized by all necessary action by Borrower. The Loan
Documents constitute legal, valid and
binding obligations of Borrower, enforceable in accordance with their terms, except as
enforceability may be limited by bankruptcy or
similar laws relating to enforcement of creditors’ rights generally.

5.5 Name and Location. Borrower has not done business under any name other than that specified on
the signature page hereof.
The chief executive office, principal place of business, and the place where Borrower maintains its
records concerning the Collateral
is set forth in Section 11. The Collateral is presently located at the address(es) set forth in
Section 11 and on the Disclosure Schedule
or any other location that Borrower has provided Lender with written notice thereof.

5.6 Litigation. All actions or proceedings pending by or against Borrower that could reasonably
be expected to result in a
material adverse effect on Borrower’s business before any court or administrative agency are set
forth on the Disclosure Schedule.

5.7 Financial Statements. All financial statements delivered by Borrower to Lender present fairly
in all material respects
Borrower’s financial condition for the periods indicated. All statements respecting Collateral that
have been or may hereafter be
delivered by Borrower to Lender are true, complete and correct in all material respects for the periods indicated.

5.8 Solvency. Borrower is solvent and able to pay its debts (including trade debts) as they come due.

5.9 Taxes. Borrower has filed and will file all required tax returns, and has paid and will pay all
taxes it owes other than where
the failure to comply would not reasonably be expected to have a material adverse effect on
Borrower.

5.10 Rights; Title to Assets. To Borrower’s knowledge, Borrower possesses, owns, or has the right
to use all necessary assets,
rights, trademarks, trade names, copyrights, patents, patent rights, franchises and licenses which
are required to conduct of its business
as now operated, except where the failure to possess or own could not reasonably be expected to
have a material adverse effect on
Borrower’s business. Borrower has good title to its assets, free and clear of any Liens, except for
Permitted Liens.

5.11 Full Disclosure. No written representation, warranty or other statement made by Borrower in
any Loan Document, certificate
or statement furnished to Lender contains any untrue statement of a material fact or omits to state
a material fact necessary in order to
make the statements contained in such certificates or statements not misleading (it being
recognized by Lender that projections and
estimates as to future events are not to be viewed as facts and the actual results during the
period or periods covered by any such
projections and estimates may differ from projected or estimated results).

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     5.12 Regulated Substances. Borrower complies and will comply with all laws respecting Regulated
Substances, except where the
failure to comply could not reasonably be expected to have an adverse effect on Borrower’s
business.

     5.13
Reaffirmation. Each Notice of Borrowing will constitute (i) a warranty and representation in
favor of Lender that there does
not exist any Default and (ii) subject to any amended Disclosure Schedule delivered to Lender or
any other written disclosure required
to be sent to Lender pursuant to the terms hereof, a reaffirmation as of the date thereof of all of
the representations and warranties
contained in this Agreement and the Loan Documents.

6. Affirmative Covenants

So long as any Obligations (other than inchoate indemnity obligations) remain outstanding,
Borrower covenants and agrees that it shall do all of the following:

6.1 Good Standing and Compliance. Borrower shall maintain all governmental licenses, rights and
agreements necessary for its
operations or business and comply in all respects with all statutes, laws, ordinances and
government rules and regulations to which it is
subject except where the failure to comply would not reasonably be expected to result in a material
adverse effect on Borrower.

6.2 Financial Statements, Reports, Certificates. Borrower shall deliver to Lender: (i) as soon as
prepared, and no later than 30
days after the end of each calendar month, a balance sheet, income statement and cash flow
statement covering Borrower’s operations
during such period; (ii) as soon as prepared, but no later than 90 days after the end of the fiscal
year, or such other timeframe formally
approved by Borrower’s audit committee, audited financial statements prepared in accordance with
GAAP, together with an opinion
that such financial statements fairly present Borrower’s financial condition by an independent
public accounting firm reasonably
acceptable to Lender; (iii) immediately upon notice thereof, a report of any legal or
administrative action pending or threatened in
writing against Borrower which is likely to result in liability to Borrower in excess of $100,000
(provided that Borrower shall not be
required to report notices of possibly relevant third party patents, or proposals or demands to
license intellectual property); and
(iv) such other financial information as Lender may reasonably request from time to time. Financial
statements delivered pursuant to
subsections (i) and (ii) above shall be accompanied by a certificate signed by a Responsible
Officer (each an “Officer’s Certificate”) in
the form of Exhibit F.

6.3 Notice of Defaults. Upon any Default or Event of Default, an Officer’s Certificate setting
forth the facts relating to or giving
rise thereto, and the Borrower’s proposed action with respect thereto.

6.4
Use; Maintenance. Borrower, at its expense, shall (i) maintain the tangible Collateral in good condition, reasonable wear
and tear excepted, and will comply in all material respects with all laws, rules and regulations
regarding use and operation of the
tangible Collateral and (ii) repair or replace any lost or damaged Collateral except to the extent
that Borrower in its good faith
judgment deems it to be in its best interest not to repair or replace such lost or damaged
Collateral, so long as applied to a purchase or
acquisition useful to Borrower’s business.

6.5 Insurance. Borrower, at its own expense, shall maintain insurance in amounts and coverages reasonably satisfactory to
Lender. Each insurance shall: (i) name Lender loss payee or additional insured, as appropriate,
(ii) provide for insurer’s waiver of its
right of subrogation against Lender and Borrower, (iii) provide that such insurance shall not be
invalidated by any action of, or breach
of warranty by, Borrower and waive set-off, counterclaim or offset against Lender, (iv) be primary
without a right of contribution of
Lender’s insurance, if any, or any obligation on the part of Lender to pay premiums of Borrower,
and (v) require the insurer to give
Lender at least 30 days prior written notice of cancellation. Borrower shall furnish all
certificates of insurance required by Lender.

6.6 Loss Proceeds. So long as no Event of Default has occurred and is continuing, any proceeds of
insurance on or
condemnation of Collateral shall, at Borrower’s election and so long as Lender’s security interest
in such proceeds remains first
priority, be used either to repair or replace such Collateral or otherwise applied to the purchase
or acquisition of property useful to
Borrower’s business.

6.7 Further Assurances. At any time and from time to time, Borrower shall execute and deliver such further instruments and
take such further action as Lender may reasonably request to effect the intent and purposes hereof,
to perfect and continue perfected
and of first priority Lender’s security interests in the Collateral, and to effect and maintain ACH
payment arrangements.

7. Negative Covenants

So long as any Obligations (other than inchoate indemnity obligations) remain outstanding, Borrower
will not do any of the following:

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7.1 Location of Collateral. Change its chief executive office or principal place of business or
remove, except in the ordinary course of Borrower’s business, the Collateral or Borrower’s Books
from the premises listed in Section 11 and the Disclosure Schedule (or otherwise provided to Lender
in writing pursuant to this Section 7.1) without giving 30 days prior written notice to Lender.
Borrower’s practice of delivering and maintaining inventory at a customer’s location pending
testing, validation and/or acceptance of such inventory by such customer shall be deemed to be in
the “ordinary course of business” for purposes of this Agreement.

7.2 Extraordinary Transactions. Enter into any transaction not in the ordinary course of
Borrower’s business, including the sale, lease, license or other disposition of its assets, other
than (i) sales of inventory in the ordinary course of
Borrower’s business; and (ii) licenses of
intellectual property assets entered into in the ordinary course of business (provided that
licensing arrangements involving universities, governmental agencies, research institutions and
corporate partners shall be deemed in the “ordinary course of business”). The parties hereto
agree (a) strategic partnerships, strategic collaborations, sponsored research collaborations and
development transactions, (b) transactions otherwise permitted in this Article 7, and (c)
transactions for fair value involving the sale or exclusive licensing of Intellectual Property,
that is outside the scope of Borrower’s business in the biotechnology field, that is not being
commercialized or monetized by the Borrower; in each case, shall be deemed to be in the “ordinary
course of business” for purposes of this Agreement.

7.3 Restructure. Make any material change in Borrower’s corporate structure or business other than
the business of the type conducted by Borrower as of the date of this Agreement or any business
reasonably related or incidental thereto; or suspend operation of Borrower’s business.

7.4 Liens. Create, incur, assume or suffer to exist any Lien of any kind with respect to any of its
property, whether now owned or hereafter acquired, except for Permitted Liens.

7.5 Indebtedness. Create, incur, assume or suffer to exist any Indebtedness, other than Permitted
Indebtedness or cause or suffer any Subsidiary to create, incur, assume or suffer to exist any
Indebtedness, other than Permitted Indebtedness.

7.6 Distributions. Pay any dividends or distributions, or redeem or purchase, any capital stock,
except for (i) repurchases of capital stock from employees, consultants or directors, under
incentive stock option plans, restricted stock purchase agreements, repurchase agreements or other
similar agreements approved by the Borrower’s Board of Directors
and (ii) dividends payable solely
in capital stock.

7.7 Transactions with Affiliates. Directly or indirectly enter into any transaction with any
affiliate which is on terms less favorable to Borrower than would be obtained in an arm’s length
transaction with a non-affiliated entity; provided, any such transaction shall not be a breach of
this Section 7.7 if (i) approved by a disinterested majority of the Borrower’s Board of Directors,
or (ii) such transaction involves sales, licensing or other transfers of property between Borrower
and its Subsidiaries, or between Subsidiaries if the consideration for such sale or transfer is not
less than cost (or the fair market value of such property, if lower),
or (iii) such transaction
involves intercompany loans that are otherwise permitted by Section 7.5.

7.8
Compliance. (i) Become regulated as an “investment company” under the Investment Company Act of
1940 or extend credit to purchase or carry margin stock; (ii) fail to meet the minimum funding
requirements of ERISA; (iii) permit a Reportable Event or Prohibited Transaction, as defined in
ERISA, to occur; (iv) fail to comply with the Federal
Fair Labor Standards Act; or (v) violate any
other material law or material regulation.

7.9 UCC Effectiveness. Change its name, jurisdiction of organization, or take any other action
that could render Lender’s financing statements misleading under the Code, without giving Lender 30
days advance written notice.

7.10 Deposit and Securities Accounts. Maintain any deposit accounts or accounts holding securities
owned by Borrower except accounts in which Lender has obtained a perfected first priority security
interest with the exception of (i) account number [***] with Silicon Valley Bank or a
successor account with Wells Fargo Bank securing a letter of credit in favor of Borrower’s landlord
in an amount not to exceed $250,000 in principal amount; (ii) account number [***] with
Comerica Bank or a successor account with Wells Fargo Bank securing a letter of credit in favor of
a lender providing equipment financing to Borrower in an amount not to exceed $500,000 in principal
amount; or (iii) account number [***] with Wells Fargo Bank securing a letter of credit in favor
of Borrower’s landlord in an amount not to exceed $137,527 in
principal amount; or (iv) any other
accounts at Silicon Valley Bank or Comerica Bank (other than those specified in clause (i) or (ii)
of this Section 7.10, provided that such accounts are closed and such funds are move to deposit or
securities accounts in which Lender has a perfect first priority security interest, on or before
June 30, 2005.

8. Events of Default

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Any one or more of the following shall constitute an Event of Default by Borrower hereunder:

8.1
Payment. Borrower fails to pay when due and payable in accordance with the Loan Documents any
portion of the Obligations, or cancels an ACH payment or transfer Lender has initiated in
conformity with the terms hereof provided, however, that an Event of Default shall not occur on
account of a failure to pay due solely to an administrative or operational error if Borrower had
the funds to make the payment when due and makes the payment the business day following Borrower’s
knowledge of such failure to pay.

8.2 Certain Covenant Defaults. Borrower fails to perform any obligation under Section 6.5 or 6.6,
or violates any of the covenants contained in Section 7.

8.3 Other Covenant Defaults. Borrower fails or neglects to perform, keep, or observe any other
term, provision, condition, covenant, or agreement contained in this Agreement, in any of the other
Loan Documents, or in any other present or future agreement between Borrower and Lender and has
failed to cure such failure within 30 days after its occurrence.

8.4 Attachment. Any material portion of Borrower’s assets is attached, seized, subjected to a
government levy, lien, writ or distress warrant, or comes into the possession of any trustee or
receiver and the same is not returned, removed, waived, stayed, discharged or rescinded within 15
days.

8.5 Other Agreements. There is a default in any agreement to which Borrower is a party resulting in
a right by a third party, whether or not exercised, to accelerate the maturity of any Indebtedness,
in an amount greater than $ 100,000.

8.6 Judgments. One or more judgments for an aggregate of at least $100,000 is rendered against
Borrower and remains unsatisfied and unstayed for more than 30 days.

8.7 Injunction. Borrower is enjoined, restrained, or in any way prevented by court order from
continuing to conduct any material part of its business affairs, or if a judgment or other claim
becomes a Lien upon any material portion of Borrower’s assets.

8.8 Misrepresentation. Any representation, statement, or report made to Lender by Borrower was
false or misleading when made in any material respect.

8.9 Enforceability. Lender’s ability to enforce its rights against Borrower or any Collateral is
impaired in any material respect, or Borrower asserts that any Loan Document is not a legal, valid
and binding obligation of Borrower enforceable in accordance with its terms.

8.10 Involuntary Bankruptcy. An involuntary bankruptcy case remains undismissed or unstayed for 60
days or, if earlier, an order granting the relief sought is entered.

8.11 Voluntary Bankruptcy or Insolvency. Borrower commences a voluntary case under applicable
bankruptcy or insolvency law, consents to the entry of an order for relief in an involuntary case
under any such law, or consents or is subject to the appointment of or taking possession by a
receiver, liquidator, assignee, trustee, custodian or other similar official of Borrower or any
substantial part of its property, or makes an assignment for the benefit of creditors, or fails
generally or admits in writing to its inability to pay its debts as they become due, or takes any
corporate action in furtherance of any of the foregoing.

8.12 Merger without Assumption. Borrower or all or substantially all of Borrower’s assets are
acquired by or merged into any other business entity where more than 50% of Borrower’s voting power
is transferred by existing shareholders of Borrower, and such acquirer or resulting entity either:
(i) does not pay off the Obligations at the closing of
the acquisition, merger or sale; or (ii)
does not provide an unconditional, unlimited guaranty of the Obligations in form and substance
satisfactory to Lender and is of a credit quality unacceptable to Lender.

8.13
Liquidation Event. Borrower consummates a Liquidation Event where the acquirer or resulting
entity either: (i) does not pay off the Obligations at the closing of the acquisition, merger or
sale; or (ii) does not provide an unconditional, unlimited guaranty of the Obligations in form and
substance satisfactory to Lender and is of a credit quality unacceptable to Lender.

8.14 General Electric Capital Corporation Indebtedness. The outstanding principal balance of
Borrower owed to General Electric Capital Corporation in connection with any equipment financing
shall be greater than $2,500,000 at any time after December 31, 2006.

9. Lender’s Rights and Remedies

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9.1 Rights and Remedies. Upon the occurrence and continuance of any Event of Default, Lender
may, at its election, without notice of election and without demand, do any one or more of the
following, all of which are authorized by Borrower: (i) accelerate and declare the Loan and all
Obligations immediately due and payable; (ii) make such payments and do such acts as Lender
considers necessary or reasonable to protect its security interest in the Collateral, with such
amounts becoming Obligations bearing interest at the Default Rate;
(iii) exercise any and all other
rights and remedies available under the UCC or otherwise; (iv) require Borrower to assemble the
Collateral at such places as Lender may designate; (v) enter premises where any Collateral is
located, take, maintain possession of, or render unusable the
Collateral or any part of it; (vi)
without notice to Borrower, set off and recoup against any portion of
the Obligations; (vii) ship,
reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell
the Collateral, in connection with which Borrower hereby grants Lender a license to use without
charge Borrower’s premises, labels, name, trademarks, and other property necessary to complete,
advertise, and sell any Collateral; and (viii) sell the Collateral at one or more public or private
sales.

9.2 Power of Attorney in Respect of the Collateral. Borrower hereby irrevocably appoints Lender
(which appointment is coupled with an interest) its true and lawful attorney in fact with full
power of substitution, for it and in its name to, during the
existence of an Event of Default: (i)
ask, demand, collect, receive, sue for, compound and give acquittance for any and all Collateral
with full power to settle, adjust or compromise any claim, (ii) receive payment of and endorse the
name of Borrower on any items of Collateral, (iii) make all demands, consents and waivers, or take
any other action with respect to, the Collateral, (iv) file any claim or take any other action, in
Lender’s or Borrower’s name, which Lender may reasonably deem appropriate to protect its rights in
the Collateral, or (v) otherwise act with respect to the Collateral as though Lender were its
outright owner.

9.3 Charges. If Borrower fails to pay any amounts required hereunder to be paid by Borrower to any
third party, Lender may at its option pay any part thereof and any amounts so paid including
Lender’s Expenses incurred shall become Obligations, immediately due and payable, bearing interest
at the Default Rate, and secured by the Collateral. Any such payments by Lender shall not
constitute an agreement to make similar payments or a waiver of any Event of Default.

9.4 Remedies Cumulative. Lender’s rights and remedies under the Loan Documents and all other
agreements with Borrower shall be cumulative. Lender shall have all other rights and remedies as
provided under the UCC, by law, or in equity. No exercise by Lender of one right or remedy shall be
deemed an election, and no waiver by Lender of any Event of Default shall be deemed a continuing
waiver. No delay by Lender shall constitute a waiver, election, or acquiescence.

9.5 Application of Collateral Proceeds. Lender will apply proceeds of sale, to the extent
actually received in cash, in the manner and order it determines in its sole discretion, and as
prescribed by applicable law.

10. Waivers; Indemnification

10.1 Waivers. Without limiting the generality of the other waivers made by Borrower herein, to the
maximum extent permitted under applicable law, Borrower hereby irrevocably waives all of the
following: (i) any right to assert against Lender as a defense, counterclaim, set-off or
crossclaim, any defense (legal or equitable), set-off, counterclaim, crossclaim and/or other claim
(a) which Borrower may now or at any time hereafter have against any party liable to Lender in any
way or manner, or (b) arising directly or indirectly from the present or future lack of perfection,
sufficiency, validity and/or enforceability of any Loan Document, or
any security interest; (ii)
notice of presentment, dishonor, notice of intent to accelerate, protest, default, nonpayment,
maturity; (iii) the benefit of all marshalling,
valuation, appraisal and exemption laws; (iv) the
right, if any, to require Lender to (a) proceed against any person liable for any of the
Obligations as a condition to or before proceeding hereunder; or (b) foreclose upon, sell or
otherwise realize upon or collect or apply any other property, real or personal, securing any of
the Obligations, as a condition to, or before proceeding hereunder;
(v) any demand for possession
before the commencement of any suit or action to recover possession
of Collateral; and (vi) any
requirement that Lender retain possession and not dispose of Collateral until after trial or final
judgment.

10.2 Lender’s Liability for Collateral. Lender shall not in any way or manner be liable or
responsible for: (i) the safekeeping of any Collateral (except to the extent mandated by the UCC);
(ii) any loss or damage thereto occurring or arising in
any manner or fashion from any cause; (iii)
any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman,
bailee, forwarding agency, or other person or entity whomsoever. All risk of loss, damage or
destruction of the Collateral shall be borne by Borrower. Lender will have no responsibility for
taking any steps to preserve rights against any parties respecting any Collateral. Lender’s powers
hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty
to exercise any such powers. None of Lender or any of its officers, directors, employees, agents or
counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in
connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances
have any liability to Borrower for lost profits or other special, indirect, punitive, or
consequential damages. Lender retains any documents delivered by Borrower only for its purposes and
for such period as Lender, at its sole discretion, may determine necessary, after which time Lender
may destroy such records without notice to or consent from Borrower.

9

 

10.3 Indemnification. Borrower shall, on an after tax basis, defend, indemnify, and
hold Lender and each of its officers, directors, employees, counsel, partners, agents and
attorneys-in-fact (each, an “Indemnified Person”) harmless from and against any and all
liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, charges,
expenses or disbursements (including Lender’s Expenses and reasonable attorney’s fees and the
allocated cost of in-house counsel) of any kind or nature whatsoever with respect to the execution,
delivery, enforcement, performance and administration of this Agreement and any other Loan
Documents, or the transactions contemplated hereby and thereby, with respect to noncompliance with
laws or regulations respecting Regulated Substances, government secrecy or technology export, or
any Lien not created by Lender or right of another against any Collateral, even if the Collateral
is foreclosed upon or sold pursuant hereto, and with respect to any investigation, litigation or
proceeding before any agency, court or other governmental authority relating to this Agreement or
the Advances or the use of the proceeds thereof, whether or not any Indemnified Person is a party
thereto (all the foregoing, collectively, the “Indemnified Liabilities”); provided, that Borrower
shall have no obligation hereunder to any Indemnified Person with respect to Indemnified
Liabilities arising from the gross negligence or willful misconduct of such Indemnified Person. The
obligations in this Section shall survive the Term. At the election of any Indemnified Person,
Borrower shall defend such Indemnified Person using legal counsel satisfactory to such Indemnified
Person, at the sole cost and expense of Borrower. All amounts owing under this Section shall be
paid within 30 days after written demand.

11. Notices

All notices shall be in writing and personally delivered or sent by certified mail, postage
prepaid, return receipt requested, or by confirmed facsimile, at the respective addresses set
forth below:

	 	 	 
	If to Borrower:

	 	If to Lender:
	 
	 	 
	Fluidigm Corporation

	 	Lighthouse Capital Partners V, LP
	7100 Shoreline Court

	 	500 Drake’s Landing Road
	South San Francisco, California 94080

	 	Greenbrae, California 94904
	Attention:
General Counsel,

Director of
Finance

	 	Attention: Contract Administrator
	FAX: (650)871-7152

	 	FAX: (415)925-3387

12. General Provisions

12.1 Successors and Assigns. This Agreement shall bind and inure to the benefit of the parties’
respective successors and permitted assigns. Borrower may not assign any rights hereunder without
Lender’s prior written consent, which consent may be granted or withheld in Lender’s sole
discretion. Lender shall have the right without the consent of or notice to Borrower to sell,
transfer, negotiate, or grant participations in all or any part of any Loan Document, provided that
Lender shall not sell, transfer, negotiate, or grant participations in all or any part of any Loan
Document to any competitor of Borrower.

12.2 Time of Essence. Time is of the essence for the performance of all Obligations.

12.3 Severability of Provisions. Each provision hereof shall be severable from every other
provision in determining its legal enforceability.

12.4 Entire Agreement. This Agreement and each of the other Loan Documents dated as of the date
hereof, taken together, constitute and contain the entire agreement between Borrower and Lender
with respect to their subject matter and supersede any and all prior agreements, negotiations,
correspondence, understandings and communications between the parties, whether written or oral.
This Agreement is the result of negotiations between and has been reviewed by the Borrower and
Lender as of the date hereof and their respective counsel; accordingly, this Agreement shall be
deemed to be the product of the parties hereto, and no ambiguity shall be construed in favor of or
against Borrower or Lender. This Agreement may only be modified with the written consent of Lender.
Any waiver or consent with respect to any provision of the Loan Documents shall be effective only
in the specific instance and for the specific purpose for which it was given. No notice to or
demand on Borrower in any one case shall entitle Borrower to any other or further notice or demand
in similar or other circumstances.

12.5 Reliance by Lender. All covenants, agreements, representations and warranties made herein
by Borrower shall, notwithstanding any investigation by Lender, be deemed to be material to and to
have been relied upon by Lender.

12.6 No Set-Offs by Borrower. All sums payable by Borrower pursuant to this Agreement or any of the
other Loan Documents shall be payable without notice or demand and shall be payable in United
States Dollars without set-off or reduction of any manner whatsoever.

10

 

12.7 Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall be deemed to be an original, and all of which, when taken together, shall constitute
one and the same original instrument.

12.8 Survival. All covenants, representations and warranties made in this Agreement shall continue
in full force and effect so long as any Obligations (other than inchoate indemnity obligations)
remain outstanding.

12.9 No
Original Issue Discount. Borrower and Lender acknowledge and agree that the Warrant is part
of an investment unit within the meaning of Section 1273(c)(2) of the Internal Revenue Code, which
includes the Loan. Borrower and Lender further agree as between them, that the fair market value of
the Warrant is $100 and that, pursuant to Treas. Reg. § 1.1273-2(h), $100 of the issue price of the
investment unit will be allocable to the Warrant and the balance shall be allocable to the Loans.
Borrower and Lender agree to prepare their federal income tax returns in a manner consistent with
the foregoing and, pursuant to Treas. Reg. § 1.1273, the original issue discount on the Loan shall
be considered to be zero.

12.10 Relationship of Parties. The relationship between Borrower and Lender is, and at all times
shall remain, solely that of a borrower and lender. Lender is not a partner or joint venturer of
Borrower; nor shall Lender under any circumstances be deemed to be in a relationship of confidence
or trust or have a fiduciary relationship with Borrower or any of its affiliates, or to owe any
fiduciary duty to Borrower or any of its affiliates. Lender does not undertake or assume any
responsibility or duty to Borrower or any of its affiliates to select, review, inspect, supervise,
pass judgment upon or otherwise inform any of them of any matter in connection with its or their
property, the Loans, any Collateral or the operations of Borrower or any of its affiliates.
Borrower and each of its affiliates shall rely entirely on their own judgment with respect to such
matters, and any review, inspection, supervision, exercise of judgment or supply of information
undertaken or assumed by Lender in connection with such matters is solely for the protection of
Lender and neither Borrower nor any affiliate is entitled to rely thereon.

12.11
Choice of Law and Venue; Jury
Trial Waiver. This Agreement shall be governed by and construed in
accordance with, the internal laws of the State of California,
without regard to principles of conflicts of law. Each of Borrower
and Lender hereby submits to the exclusive jurisdiction of the State
and Federal courts located in the City and County of San Francisco,
State of California. Borrower and lender hereby waive their
respective rights to a jury trial of any claim or cause of action
based upon or arising out of any of the Loan Documents or any of the
transactions contemplated therein, including contract claims, tort
claims, breach of duty claims, and all other common law or statutory
claims. Each party further waives any right to consolidate any action
in which a jury trial has been waived with any other action in which
a jury trial cannot be or has not been waived.

12.12 Termination. Upon the full, faithful and indefeasible payment and performance of all
Obligations(other than inchoate indemnity obligations) and the termination of any commitment to
extend credit under this Agreement, the security interest granted herein and under the other Loan
Documents shall terminate and this Agreement and the other Loan Documents (other than the Warrant)
shall terminate, except for any inchoate indemnity obligations under
Section 10.3 of this
Agreement.

In
Witness Whereof, the parties hereto have executed this Agreement as of the date first above written.

	 	 	 	 	 	 	 	 	 	 	 
	Fluidigm
Corporation	 	 	 	Lighthouse Capital Partners V, L.P.	 	 
	 

	 	 	 	 	 	By:
	 	Lighthouse
Management Partners V, L.L.C., 

its general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Gajus Worthington
 

	 	 	 	By:
	 	/s/ Thomas Conneely
 

	 	 
	Name:

	 	 Gajus Worthington	 	 	 	Name:
	 	Thomas Conneely	 	 
	Title:

	 	PRESIDENT & CEO	 	 	 	Title:
	 	Vice President	 	 

Exhibit A           Collateral Description

Exhibit B           Form of Note

Exhibit C           Form of Preferred Stock Warrant

Exhibit D           Form of Notice of Borrowing

Exhibit E           Form of Incumbency Certificate

Exhibit F           Form of Officers Certificate

Exhibit G          ACH Authorization

Exhibit H          Form of Negative Pledge Agreement

Exhibit I            Control Agreement

11

 

Exhibit A

Collateral

This FINANCING STATEMENT and SECURITY AGREEMENT covers all of Debtor’s interests in all of the
following types or items of property described on this Exhibit A (collectively, the “Collateral”),
wherever located and whether now owned or hereafter acquired, and Debtor hereby grants Secured
Party a security interest therein as collateral for the payment and performance of all present and
future indebtedness, liabilities, guarantees and obligations of Debtor to Secured Party, howsoever
arising. Debtor agrees that said security interest may be enforced by Secured Party in accordance
with the terms of all security and other agreements between Secured Party and Debtor, the
California Uniform Commercial Code, or both, and that this document shall be fully effective as a
security agreement, even if there is no other security or other agreement between Secured Party or
Debtor:

All assets of the Debtor; all personal property of Debtor;

All “accounts”, “general intangibles”, “chattel paper”, “contract rights”, “documents”,
“instruments”, “deposit accounts”, “inventory”, “farm products”, “fixtures” and “equipment”, as
such terms are defined in Division 9 of the California Uniform Commercial Code in effect on the
date hereof;

All general intangibles of every kind, including without limitation, federal, state and local tax
refunds and claims of all kinds; all rights as a licensee or any kind; all customer lists,
telephone numbers, and purchase orders, and all rights to purchase, lease sell, or otherwise
acquire or deal with real or personal property and all rights relating thereto;

All returned and repossessed goods and all rights as a seller of goods; all collateral securing
any of the foregoing; all deposit accounts, special and general, whether on deposit with Secured
Party or others;

All life and other insurance policies, claims in contract, tort or otherwise, and all judgments now
or hereafter arising therefrom;

All right, title and interest of Debtor, and all of Debtor’s rights, remedies, security and liens,
in, to and in respect of all accounts and other collateral, including, without limitation, rights
of stoppage in transit, replevin, repossession and reclamation and other rights and remedies of an
unpaid vendor, lienor or secured party, and all guarantees and other contracts of suretyship with
respect to any accounts and other collateral, and all deposits and other security for any accounts
and other collateral, and all credit and other insurance;

All notes, drafts, letters of credit, contract rights, and things in action; all drawings,
specifications, blueprints and catalogs; and all raw materials, work in process, materials used or
consumed in Debtor’s business, goods, finished goods, returned goods and all other goods and
inventory of whatsoever land or nature, any and all wrapping, packaging, advertising and shipping
materials, and all documents relating thereto, and all labels and other devices, names and marks
affixed or to be affixed thereto for purposes of selling or identifying the same or the seller or
manufacturer thereof;

All inventory wherever located; all present and future claims against any supplier of any of the
foregoing, including claims for defective goods or overpayments to or undershipments by suppliers;
all proceeds arising from the lease or rental of any of the foregoing;

All equipment and fixtures, including without limitation all machinery, machine tools, motors,
controls, parts, vehicles, workstations, tools, dies, jigs, furniture, furnishings and fixtures;
and all attachments, accessories, accessions and property now or hereafter affixed to or used in
connection with any of the foregoing, and all substitutions and replacements for any of the
foregoing; all warranty and other claims against any vendor or lessor of any of the foregoing;

All investment property;

All books, records, ledger cards, computer data and programs and other property and general
intangibles at any time evidencing or relating to any or all of the foregoing; and

All cash and non-cash products and proceeds of any of the foregoing, in whatever form, including
proceeds in the form of inventory, equipment or any other form of personal property, including
proceeds of proceeds and proceeds of insurance, and all claims by Debtor against third parties for
loss or damage to, or destruction of, or otherwise relating to, any or all of the foregoing.

NOTICE — PURSUANT TO AN AGREEMENT BETWEEN DEBTOR AND SECURED PARTY, DEBTOR HAS AGREED NOT TO
FURTHER ENCUMBER THE COLLATERAL DESCRIBED HEREIN (EXCEPT AS EXPRESSLY PERMITTED PURSUANT TO SUCH
AGREEMENT), THE FURTHER ENCUMBERING OF WHICH MAY CONSTITUTE THE TORTIOUS INTERFERENCE

1

 

 

WITH SECURED PARTY’S RIGHTS BY SUCH ENCUMBRANCER. IN THE EVENT THAT ANY ENTITY IS GRANTED A
SECURITY INTEREST IN DEBTOR’S ACCOUNTS, CHATTEL PAPER, GENERAL INTANGIBLES OR OTHER ASSETS CONTRARY
TO THE ABOVE, THE SECURED PARTY ASSERTS A CLAIM TO ANY PROCEEDS THEREOF RECEIVED BY SUCH ENTITY.

Notwithstanding any of the foregoing, this Financing Statement and Security Agreement does not
cover any of Debtor’s interests in, and the Collateral shall not under any circumstance include,
and no security interest is granted in, (i) any property that is subject to a Lien that is
otherwise permitted pursuant to subsection (v) of the definition of “Permitted Liens” as defined
in that certain Loan and Security Agreement, dated as of March 29, 2005, by and between Secured
Party and Debtor, and Secured Party agrees to execute any instruments or documents necessary to
evidence the intent of the foregoing, (ii) more than 65% of the issued and outstanding voting
securities of any subsidiary of Debtor that is not incorporated or organized in the United States,
or (iii) Debtor’s Intellectual Property, including, without limitation, any and all property of
the Debtor that is subject to, listed in or otherwise described in the Negative Pledge Agreement
dated March 29, 2005 between the Secured Party and the Debtor. “Intellectual Property” means,
collectively, all rights, priorities and privileges of the Debtor relating to intellectual
property, in any medium, of any kind or nature whatsoever, now or hereafter owned or acquired or
received by Debtor, or in which Debtor now holds or hereafter acquires or receives any right or
interest, whether arising under United States, multinational or foreign laws or otherwise, and
shall include, in any event, all copyrights, copyright licenses, patents, patent licenses,
trademarks, trademark licenses, trade secrets, internet domain names (including any right related
to the registration thereof), proprietary or confidential information, mask works, sources object
or other programming codes, inventions (whether or not patented or patentable), technical
information, procedures, designs, knowledge, know-how, software, data base, data, skill,
expertise, recipe, experience, process, models, drawings, materials or records. Notwithstanding
the foregoing, Intellectual Property as defined above does not include proceeds or other revenue
consisting of accounts, accounts receivable, royalties, licensing fees, or payment intangibles
obtained or owed from or on account of the licensing or other exploitation or disposition of
Intellectual Property, none of which are excluded, and all of which are included as collateral in
the security interest granted by Debtor to Secured Party.

	 	 	 	 	 	 	 	 	 	 	 
	“Debtor”	 	 	 	“Secured
Party”	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Fluidigm Corporation, a California corporation	 	 	 	Lighthouse Capital Partners V, L.P.	 	 
	 

	 	 	 	 	 	By:
	 	Lighthouse
Management Partners V, L.L.C.,

its general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 	 	 	 	 
	Name:

	 	 	 	 	 	By:	 	 
	 	 
	 

	 	 

	 	 	 	 	 	 

	 	 
	Title:

	 	 	 	 	 	Name:	 	 
	 	 
	 

	 	 

	 	 	 	 	 	 

	 	 
	 

	 	 	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

	 	 

2

 

Exhibit B

[                    ]

Secured Promissory Note

This
Secured Promissory Note
(this “Note”) is made
                    ,
200           ,
by Fluidigm Corporation
(“Borrower”) in favor
of Lighthouse
Capital Partners V, L.P. (collectively with its assigns, “Lender”).
Initially capitalized terms used and not otherwise defined herein are defined in that certain Loan
and Security Agreement No. 4561 between Borrower and Lender
dated March 29, 2005 (the “Loan
Agreement”).

For Value Received, Borrower promises to pay in lawful money of the United States, to the
order of Lender, at 500 Drake’s Landing Road, Greenbrae, California 94904, or such other place as
Lender may from time to time designate (“Lender’s Office”), the principal
 sum of $                     (the “Advance”), including interest on the unpaid balance and all other amounts due or to
become due hereunder according to the terms hereof and of the Loan Agreement.

“Basic Rate” means a variable per annum rate of interest equal to the Index plus the Interest
Margin which shall be subject to adjustment as provided herein. On and after the Loan Commencement
Date the Basic Rate shall be fixed and not subject to any further adjustments.

“Final Payment” means 9% of the Advance.

“Index” means the prevailing variable Prime Rate of annual interest as quoted from time to time in
the western edition of the Wall Street Journal.

“Interest
Margin” means 2.5% per annum.

“Loan
Commencement Date” means March 1, 2006.

“Maturity Date” means the last day of the Repayment Period, or if earlier, the date of prepayment
under the Note.

“Payment Date” means the first day of each calendar month.

“Prepayment
Fee” means (i) if prepaid in the calendar year 2006, 3% of the outstanding principal
amount being prepaid; (ii) if prepaid in the calendar year 2007, 2% of the outstanding principal
amount being prepaid; and (iii) if prepaid in the calendar year 2008 or 2009, 1% of the
outstanding principal amount being prepaid.

“Repayment Period” means the period beginning on the Loan Commencement Date and continuing for 36
calendar months.

1. Repayment. Borrower shall pay principal and interest due hereunder from the Funding Date, until
this Note is paid in full, on
each Payment Date pursuant to the terms of the Loan Agreement and this Note. Prior to the Loan
Commencement Date, Borrower
shall pay to Lender, monthly in advance on each Payment Date, interest calculated using the Basic
Rate prevailing on the first business
day of such calendar month. Beginning on the Loan Commencement Date and on each Payment Date
thereafter during the Repayment
Period, Borrower shall make equal installments of principal and interest in advance, calculated at
the Basic Rate. On the Maturity
Date, Borrower shall pay, in addition to all unpaid principal and interest outstanding hereunder,
the Final Payment.

2. Interest. Interest not paid when due will, to the maximum extent permitted under applicable law,
become part of principal, at
Lender’s option, and thereafter bear like interest as principal. Interest shall be computed on the
basis of a 360 day year. All
Obligations not paid when due shall bear interest at the Default Rate unless waived in writing by
Lender. All amounts paid hereunder
will be applied to the Obligations in Lender’s discretion and as provided in the Loan Agreement.

3.
Voluntary Prepayment. Borrower may prepay the Note if and only if
Borrower pays to Lender (i)
the outstanding principal
amount of this Note and any unpaid accrued interest
(ii) the Final Payment, (iv) the Prepayment
Fee, and (v) all other sums, if any, that
shall have become due and payable hereunder with respect to this Note.

4. Collateral. This Note is secured by the Collateral.

1

 

5. Waivers. Borrower, and all guarantors and endorsers of this Note, regardless of the time, order or
place of signing, hereby
waive notice, demand, presentment, protest, and notices of every kind, presentment for the purpose
of accelerating maturity, diligence
in collection to the fullest extent permitted by law.

6.
Choice of Law; Venue. This
Note shall be governed by, and construed in accordance with the
internal
laws of the State of
California, without regard to principles of conflicts of law. Each of
Borrower and Lender hereby submits to the exclusive jurisdiction of
the State and Federal courts
located in the City and County of San Francisco, State of California.
Borrower and Lender each
hereby waive their respective rights to a jury trial of any claim or cause of action based upon or
arising out of this Note. Each party further waives any right to consolidate any action in which a
jury trial has been waived with any other action in which a jury trial cannot be or has not been
waived.

7.
Miscellaneous.  The Note 
may be modified only by 
a writing signed by Borrower and
Lender. Each provision hereof is severable from every other provision hereof and of the Loan Agreement when determining its
legal enforceability. Sections and
subsections are titled for convenience, and not for construction. “Hereof,” “herein,” “hereunder,”
and similar words refer to this Note
in its entirety. “Or” is not necessarily’ exclusive. “Including” is not limiting. The terms and
conditions hereof inure to the benefit of
and are binding upon the parties’ respective permitted successors and assigns. This Note is subject
to all the terms and conditions of
the Loan Agreement.

In Witness Whereof, Borrower has caused this Note to be executed by a duly authorized
officer as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 
	 	 	 	 
	 	 
	 

	 	Name:
	 	 

	 	 
	 
	 	 	 	 
	 	 
	 

	 	Title:
	 	 

	 	 
	 
	 	 	 	 
	 	 
	 

	 	 	 	 

	 	 

2

 

Exhibit
C

Warrants

1

 

NEITHER THIS WARRANT NOR THE SHARES OF CAPITAL STOCK ISSUABLE UPON EXERCISE HEREOF HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“1933 ACT”), OR ANY APPLICABLE STATE
SECURITIES LAWS. SUCH SECURITIES MAY NOT BE SOLD OR TRANSFERRED UNLESS SUCH SALE OR TRANSFER IS IN
ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS OR THE COMPANY HAS
RECEIVED AN OPINION OF COUNSEL, REASONABLY ACCEPTABLE TO THE COMPANY, TO THE EFFECT THAT SUCH SALE
OR TRANSFER IS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS.

PREFERRED STOCK PURCHASE WARRANT

	 	 	 
	Warrant No.                                        

	 	Number of Shares: initially, 185,714
	 

	 	Series D Preferred Stock
	 

	 	subject to increase as set forth below

Fluidigm
Corporation

Effective
as of March 29, 2005

Void after March 29, 2012

     1. Issuance.
This Preferred Stock Purchase Warrant (the “Warrant”)
is issued to Lighthouse
Capital Partners V, L.P. by 
Fluidigm Corporation, a California corporation
(hereinafter with its successors
called the “Company”).

     2. Purchase Price; Number of Shares.

     (a) The registered holder of this Warrant (the “Holder”), commencing on the date hereof, is
entitled upon surrender of this Warrant with the subscription form annexed hereto duly executed, at the
principal office of the Company, to purchase from the Company, at a price per share of $2.80 (the “Purchase
Price”), 185,714 fully
paid and nonassessable shares of the Company’s Series D Preferred Stock, (the “Exercise
Quantity”), $0.001 par
value (the “Preferred Stock”).

     (b) On the Commitment Termination Date, the Exercise Quantity shall automatically be increased
by
such additional number of shares (rounded to the nearest whole share) of Series D Preferred
Stock, if any, as is equal
to the amount determined by dividing (A) 4% of the Aggregate Advances under the Loan
Agreement, if any, by (B)
the Purchase Price

In addition to other terms which may be defined herein, the following terms, as used in this
Warrant, shall have the following meanings:

	 	(i)	 	“Aggregate Advances” means the aggregate original dollar amount of all
Advances made under the Loan Agreement, whether such Advances are outstanding or
prepaid, at the time of any scheduled adjustment to the Exercise Quantity.
	 
	 	(ii)	 	“Loan Agreement” means that certain Loan and Security Agreement No. 4561 dated
March 29, 2005 between the Company and Lighthouse Capital Partners V, L.P..

Any capitalized term not defined herein shall have the meaning as set forth in the Loan Agreement.

1.

 

Until such time as this Warrant is exercised in full or expires, the Purchase Price and the
securities issuable upon exercise of this Warrant are subject to adjustment as hereinafter
provided. The person or persons in whose name or names any certificate representing shares of
Preferred Stock is issued hereunder shall be deemed to have become the holder of record of the
shares represented thereby as at the close of business on the date this Warrant is exercised with
respect to such shares, whether or not the transfer books of the Company shall be closed.

     3. Payment
of Purchase Price. The Purchase Price may be paid (i) in cash or by check, (ii) by
the
surrender by the Holder to the Company of any promissory notes or other obligations issued by
the Company, with
all such notes and obligations so surrendered being credited against the Purchase Price in an
amount equal to the
principal amount thereof plus accrued interest to the date of surrender, or (iii) by any
combination of the foregoing.

     4. Net
Issue Election. The Holder may elect to receive, without the payment by the Holder of
any
additional consideration, shares of Preferred Stock equal to the value of this Warrant or any
portion hereof by the
surrender of this Warrant or such portion to the Company, with the net issue election notice
annexed hereto duly
executed, at the principal office of the Company. Thereupon, the Company shall issue to the
Holder such number of
fully paid and nonassessable shares of Preferred Stock as is computed using the following
formula:

	 	 	 	 	 	 	 
	 

	 	X=
	Y(A-B)
 

A
	 	 

	 	 	 	 	 
	where:

	 	X =
	 	the number of shares of Preferred Stock to be issued to the
Holder pursuant to this Section 4.
	 
	 	 	 	 
	 

	 	Y =
	 	the number of shares of Preferred Stock covered by this
Warrant in respect of which the net issue election is made
pursuant to this Section 4.
	 
	 	 	 	 
	 

	 	A =
	 	the Fair Market Value (defined below) of one share of
Preferred Stock, as determined at the time the net issue
election is made pursuant to this Section 4.
	 
	 	 	 	 
	 

	 	B =
	 	the Purchase Price in effect under this Warrant at the time
the net issue election is made pursuant to this Section 4.

          “Fair Market Value” of a share of Preferred Stock (or fully paid and nonassessable shares of
the Company’s common stock, $0.001 par value (the “Common Stock”) if the Preferred Stock has been
automatically converted into Common Stock) as of the date that the net issue election is made (the
“Determination Date”) shall mean:

          (i) If the net issue election is made in connection with and contingent upon the closing of the
sale of the Company’s Common Stock to the public in a public offering pursuant to a Registration
Statement under the Securities Act of 1933, as amended (a “Public Offering”), and if the Company’s
Registration Statement relating to such Public Offering (“Registration Statement”) has been
declared effective by the Securities and Exchange Commission, then the initial “Price to Public”
specified in the final prospectus with respect to such offering multiplied by the number of shares
of Common Stock into which each share of Preferred Stock is then convertible.

          (ii) 
If the net issue election is not made in connection with and
contingent upon a Public Offering, then as follows:

               (a) If traded on a securities exchange or the Nasdaq National Market, the fair
market value of the Common Stock shall be deemed to be the average of the closing or last reported
sale prices of the Common Stock on such exchange or market over the five day period ending five
trading days prior to the Determination Date, and the fair market value of the Preferred Stock
shall be deemed to be such fair market value of the Common Stock multiplied by the number of
shares of Common Stock into which each share of Preferred Stock is then convertible;

2.

 

               (b) If otherwise traded in an over-the-counter market, the fair market value
of the
Common Stock shall be deemed to be the average of the closing ask prices of the Common Stock over
the five day period ending five trading days prior to the Determination Date, and the fair market
value of the Preferred Stock shall be deemed to be such fair market value of the Common Stock
multiplied by the number of shares of Common Stock into which each share of Preferred Stock is then
convertible; and

               (c) If
there is no public market for the Common Stock, then fair market value shall
be determined in good faith by the Company’s Board of Directors.

     5. Partial Exercise. This Warrant may be exercised in part, and the Holder shall be entitled
to
receive a new warrant, which shall be dated as of the date of this Warrant, covering the
number of shares in respect
of which this Warrant shall not have been exercised.

     6. Fractional Shares. In no event shall any fractional share of Preferred Stock be issued upon
any
exercise of this Warrant. If, upon exercise of this Warrant in its entirety, the Holder would,
except as provided in
this Section 6, be entitled to receive a fractional share of Preferred Stock, then the Company
shall issue the next
higher number of full shares of Preferred Stock, issuing a full share with respect to such
fractional share.

     7. Expiration Date; Automatic Exercise. This Warrant shall expire at the close of
business on
March 29, 2012, and shall be void thereafter (the “Expiration Date”). Notwithstanding the
term of this Warrant
fixed pursuant to this Section 7, and provided Holder has received advance written notice of
at least twenty (20)
days and has not earlier exercised this Warrant, and provided this Warrant has not been
assumed by the successor
entity (or parent thereof), upon the consummation of a Merger (as defined below), this Warrant
shall automatically
be exercised pursuant to Section 4 hereof, without any action by Holder. “Merger” means: (i)
a sale of all or
substantially all of the Company’s assets to an Unaffiliated Entity (as defined below), or
(ii) the merger,
consolidation or acquisition of the Company with, into or by an Unaffiliated Entity (other
than a merger or
consolidation for the principle purpose of changing the domicile of the Company or a bona fide
round of preferred
stock equity financing), that results in the Company’s shareholders immediately prior to such
merger, consolidation,
or acquisition holding, immediately thereafter, less than a majority of the outstanding
voting securities of the
successor corporation or its parent. “Unaffiliated Entity” means any entity that is owned or
controlled by parties
who own less than twenty percent (20%) of the combined voting power of the voting securities
of the Company
immediately prior to such merger or sale of assets, consolidation or acquisition.
Notwithstanding the foregoing, in
the event that any outstanding warrants to purchase equity securities of the Company (it being
acknowledged and
agreed that options to acquire common stock issued to officers, directors, employees and
consultants shall not be
deemed “warrants”) are assumed by the successor entity of a Merger (or parent thereof), this
Warrant shall also be
similarly assumed and the automatic exercise provision in this Section 7 shall have no effect.
The Company agrees
to give the Holder written notice promptly after it has entered into a definitive agreement
relating to any proposed
Merger and written notice of termination of any definitive agreement relating to any proposed
Merger.
Notwithstanding anything to the contrary in this Warrant, (i) the Holder may expressly make
any voluntary exercise
of this Warrant contingent on, and effective immediately prior to, the consummation of such
Merger and (ii) any
automatic exercise of this Warrant in connection with a Merger shall be conditioned on
consummation of such
Merger and shall be effective immediately prior thereto.

     8. Reserved Shares; Valid Issuance. The Company covenants that it will at all times from and
after
the date hereof reserve and keep available such number of its authorized shares of Preferred
Stock and Common
Stock free from all preemptive or similar rights therein, as will be sufficient to permit,
respectively, the exercise of
this Warrant in full and the conversion into shares of Common Stock of all shares of Preferred
Stock receivable
upon such exercise. The Company further covenants that such shares as may be issued pursuant
to such exercise
and/or conversion will, upon issuance, be duly and validly issued, fully paid and
nonassessable and free from all
taxes, liens and charges with respect to the issuance thereof.

     9. Stock Splits and Dividends. If after the date hereof the Company shall subdivide the
Preferred
Stock, by split-up or otherwise, or combine the Preferred Stock, or issue additional shares of
Preferred Stock in
payment of a stock dividend on the Preferred Stock, the number of shares of Preferred Stock
issuable on the exercise

3.

 

of this Warrant shall forthwith be proportionately increased in the case of a subdivision or stock
dividend, or proportionately decreased in the case of a combination, and the Purchase Price shall
forthwith be proportionately decreased in the case of a subdivision or stock dividend, or
proportionately increased in the case of a combination.

     10. Adjustments for Diluting Issuances. The antidilution rights applicable to the Series D
Preferred
Stock of the Company are set forth in the Amended and Restated Articles of Incorporation, as
amended from time to
time (the “Articles”), a true and complete copy in its current form which has been made
available to Holder. Such
rights shall not be restated, amended or modified in any manner which affects the Holder
differently than the holders
of outstanding Series D Preferred Stock without such Holder’s prior written consent. The
Company shall provide
the Holder hereof with any restatement, amendment or modification to the Articles promptly
after the same has been
made.

     11. Mergers and Reclassifications. (a) Except as set forth in Section 7, If after the
date hereof the Company shall enter into any Reorganization (as hereinafter defined), then, as a
condition of such Reorganization, lawful provisions shall be made, and duly executed documents
evidencing the same from the Company or its successor shall be delivered to the Holder, so that
the Holder shall thereafter have the right to purchase, at a total price not to exceed that
payable upon the exercise of this Warrant in full, the kind and amount of shares of stock and
other securities and property receivable upon such Reorganization by a holder of the number of
shares of Preferred Stock which might have been purchased by the Holder immediately prior to such
Reorganization, and in any such case appropriate provisions shall be made with respect to the
rights and interest of the Holder to the end that the provisions hereof (including without
limitation, provisions for the adjustment of the Purchase Price and the number of shares issuable
hereunder and the provisions relating to the net issue election) shall thereafter be applicable in
relation to any shares of stock or other securities and property thereafter deliverable upon
exercise hereof. For the purposes of this Section 11, the term “Reorganization” shall include
without limitation any reclassification, capital reorganization or change of the Preferred Stock
(other than as a result of a subdivision, combination or stock dividend provided for in Section 9
hereof), or any consolidation of the Company with, or merger of the Company into, another
corporation or other business organization (other than a merger in which the Company is the
surviving corporation and which does not result in any reclassification or change of the
outstanding Preferred Stock), or any sale or conveyance to another corporation or other business
organization of all or substantially all of the assets of the Company.

          (b) Notwithstanding any other provision of this Warrant, in the event of an automatic
conversion of the Company’s outstanding Series D Preferred Stock into Common Stock in accordance
with the Company’s Articles, as in effect from time to time, this Warrant shall thereafter
represent the right to acquire for the aggregate Purchase Price (as then in effect) the number of
shares of Common Stock into which the number of shares of Preferred Stock issuable upon exercise
of this Warrant would have then been convertible.

     12. Certificate of Adjustment. Whenever the Purchase Price is adjusted, as herein provided,
the
Company shall promptly deliver to the Holder a certificate of the Company’s chief financial
officer (or other
appropriate officer) setting forth the Purchase Price after such adjustment and setting forth
a brief statement of the
facts requiring such adjustment.

     13. Notices of Record Date, Etc. In the event of:

          (a) any taking by the Company of a record of the holders of any class of securities for the
purpose of determining the holders thereof who are entitled to receive any dividend or other
distribution, or any right
to subscribe for, purchase, sell or otherwise acquire or dispose of any shares of stock of any
class or any other
securities or property, or to receive any other right;

          (b) any reclassification of the capital stock of the Company, capital reorganization of the
Company, consolidation or merger involving the Company, or sale or conveyance of all or
substantially all of its
assets; or

          (c) any voluntary or involuntary dissolution, liquidation or winding-up of the
Company;

4.

 

then in each such event the Company will provide or cause to be provided to the Holder a written
notice thereof. Such notice shall be provided at least twenty (20) business days prior to the date
specified in such notice on which any such action is to be taken.

     14. Representations, Warranties and Covenants. This Warrant is issued and delivered by the
Company and accepted by each Holder on the basis of the following representations, warranties
and covenants made
by the Company:

          (a) The Company has all necessary corporate power and authority to issue, execute and
deliver this Warrant and to perform its obligations hereunder. This Warrant has been duly
authorized issued,
executed and delivered by the Company and is the valid and binding obligation of the Company,
enforceable in
accordance with its terms, except as enforceability may be limited by bankruptcy or similar
laws relating to the
enforcement of creditors’ rights generally.

          (b) The shares of Preferred Stock issuable upon the exercise of this Warrant have been duly
authorized and reserved for issuance by the Company and, when issued in accordance with the
terms hereof, will be
validly issued, fully paid and nonassessable.

          (c)
The issuance, execution and delivery of this Warrant do not, and the issuance of the shares of Preferred Stock upon the exercise of this Warrant in accordance with the terms
hereof will not, (i) violate
or contravene the Company’s Articles or by-laws, or any law, statute, regulation, rule,
judgment or order applicable
to the Company, (ii) violate, contravene or result in a breach or default under any contract,
agreement or instrument
to which the Company is a party or by which the Company or any of its assets are bound or
(iii) require the consent
or approval of or the filing of any notice or registration with any person or entity (other
than such notices or filings
as may be required under applicable securities laws).

          (d) As long as this Warrant is, or any shares of Preferred Stock issued upon exercise of this
Warrant or any shares of Common Stock issued upon conversion of such shares of Preferred Stock
are, issued and
outstanding, the Company will provide to the Holder the financial and other information
described in that certain
Loan and Security Agreement No. 4561 between the Company and Lighthouse Capital Partners
V, L.P. dated as of
March 29, 2005.

          (e) As of the date hereof, the authorized capital stock of the Company consists of (i)
65,500,000 shares of Common Stock, of which 8,909,357 shares are issued and outstanding and
185,714 shares are
reserved for issuance upon the exercise of this Warrant with respect to Common Stock and the
conversion of the
Preferred Stock into Common Stock if this Warrant is exercised with respect to Preferred
Stock, (ii) 2,727,273
shares of Series A Preferred Stock, of which 2,727,273 are issued and outstanding shares,
(iii) 6,460,675 shares of
Series B Preferred Stock, of which 6,460,675 are issued and outstanding shares, (iv)
20,551,163 shares of Series C
Preferred Stock, of which 16,364,832 are issued and outstanding shares, and (v) 13,887,716
shares of Series D
Preferred Stock, of which 7,292,127 are issued and outstanding shares. Company has delivered
a capitalization
table to Holder summarizing the capitalization of the Company. At the request of Holder, not
more than once per
calendar quarter, the Company will provide Holder with a current capitalization table
indicating changes, if any, to
the number of outstanding shares of common stock and preferred stock.

     15. Registration Rights. The Company grants to the Holder all the rights of a “Holder” [and
an
“Investor”] under the Company’s Amended and Restated Investors’ Rights Agreement dated as of
December 18,
2003 (the “Rights Agreement”), including, without limitation, the registration rights
contained therein, and agrees to
amend the Rights Agreement so that (i) the shares of Common Stock issuable upon conversion of
the shares of
Preferred Stock issuable upon exercise of this Warrant shall be “Registrable Securities,” and
(ii) the Holder shall be
a “Holder” [and an “Investor"] for all purposes of such Rights Agreement.

     16. Amendment. The terms of this Warrant may be amended, modified or waived only with the
written consent of the Holder and the Company.

5.

 

     17. Representations and Covenants of the Holder. This Warrant has been entered into by the
Company in reliance upon the following representations and covenants of the Holder, which by its
execution hereof the Holder hereby confirms:

          (a) Investment Purpose. The right to acquire Preferred Stock or the Preferred Stock
issuable upon exercise of the Holder’s rights contained herein will be acquired for investment and
not with a view to the sale or distribution of any part thereof, and the Holder has no present
intention of selling or engaging in any public distribution of the same except pursuant to a
registration or exemption.

          (b) Accredited Investor. Holder is an “accredited investor” within the meaning of Rule 501 of
Regulation D, promulgated under the 1933 Act as presently in effect.

          (c) Private Issue. The Holder understands (i) that neither the issuance of this Warrant nor
the issuance of any shares of the Company’s capital stock issuable upon exercise of the Holder’s
rights contained herein has been registered under the 1933 Act or qualified under applicable state
securities laws on the ground that the issuances contemplated by this Warrant will be exempt from
the registration and qualifications requirements thereof, and (ii) that the Company’s reliance on
such exemption is predicated on the representations of the Holderset forth in this Section 17.

          (d) Financial Risk. The Holder has such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of its investment and has the ability
to bear the economic risks of its investment.

     18. Notices, Transfers, Etc.

          (a) Any notice or written communication required or permitted to be given to the Holder may be
given by certified mail or delivered to the Holder at the address most recently provided by the
Holder to the Company.

          (b) Subject to compliance with applicable federal and state securities laws, this Warrant may
be transferred by the Holder with respect to any or all of the shares purchasable hereunder. Upon
surrender of this Warrant to the Company, together with the assignment notice annexed hereto duly
executed, for transfer of this Warrant as an entirety by the Holder, the Company shall issue a new
warrant of the same denomination to the assignee. Upon surrender of this Warrant to the Company,
together with the assignment hereof properly endorsed, by the Holder for transfer with respect to a
portion of the shares of Preferred Stock purchasable hereunder, the Company shall issue a new
warrant to the assignee, in such denomination as shall be requested by the Holder hereof, and shall
issue to such Holder a new warrant covering the number of shares in respect of which this Warrant
shall not have been transferred.

          (c) In case this Warrant shall be mutilated, lost, stolen or destroyed, the Company shall
issue a new warrant of like tenor and denomination and deliver the same (i) in exchange and
substitution for and upon surrender and cancellation of any mutilated Warrant, or (ii) in lieu of
any Warrant lost, stolen or destroyed, upon receipt of an affidavit of the Holder or other evidence
reasonably satisfactory to the Company of the loss, theft or destruction of such Warrant.

     19. No Impairment. The Company will not, by amendment of its Articles or through any
reclassification, capital reorganization, consolidation, merger, sale or conveyance of assets,
dissolution, liquidation, issue or sale of securities or any other voluntary action, avoid or seek
to avoid the observance of performance of any of the terms of this Warrant, but will at all times
in good faith assist in the carrying out of all such terms and in the taking of all such action as
may be necessary or appropriate in order to protect the rights of the Holder. In no event shall any
reclassification, capital reorganization, consolidation, merger, sale or conveyance of assets,
dissolution, liquidation, issue or sale of securities or any other transaction be deemed an
“impairment” for purposes of this Section 18 if the shares of the Company’s capital stock issuable
upon exercise of this Warrant are affected thereby in the same manner as outstanding shares of such
capital stock.

6.

 

     20. Governing Law. The provisions and terms of this Warrant shall be governed by and construed
in accordance with the internal laws of the State of California without giving effect to its
principles regarding conflicts of laws.

     21. Successors and Assigns. This Warrant shall be binding upon the Company’s successors and
assigns and shall inure to the benefit of the Holder’s successors, legal representatives and
permitted assigns.

     22. Business Days. If the last or appointed day for the taking of any action required or the
expiration of any rights granted herein shall be a Saturday or Sunday or a legal holiday in
California, then such action may be taken or right may be exercised on the next succeeding day
which is not a Saturday or Sunday or such a legal holiday.

     23. Value. The Company and the Holder agree that the value of this Warrant on the date of
grant is $100.

	 	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

7.

 

Subscription

	 	 	 	 	 
	To:
	 	 	 	 
	 

	 	 

	 	 
	Date:
	 	 	 	 
	 

	 	 

	 	 

The undersigned hereby subscribes for                      shares of Preferred Stock covered by this Warrant. The
certificate(s) for such shares shall be issued in the name of the undersigned or as otherwise
indicated below:

	 	 	 
	 
	 	 
	 

Signature

	 	 
	 
	 	 
	 

Name for Registration

	 	 
	 
	 	 
	 

Mailing Address

	 	 

1.

 

Net Issue Election Notice

	 	 	 	 	 	 	 	 	 	 	 
	To:

	 	 	 	 	 	Date:	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 

The undersigned hereby elects under Section 4 to surrender the right to purchase shares of
Preferred Stock pursuant to this Warrant. The certificate(s) for such shares issuable upon such
net issue election shall be issued in the name of the undersigned or as otherwise indicated below:

	 	 	 
	 

Signature

	 	 
	 
	 	 
	 

Name for Registration

	 	 
	 
	 	 
	 

Mailing Address

	 	 

1.

 

Assignment

For value received                                                                                                                          hereby sells, assigns and transfers unto

 

 

[Please print or typewrite name and address of Assignee]

 

the within Warrant, and does hereby irrevocably constitute and appoint
                    
                    
                    
                    
its attorney to transfer the within Warrant on the books of the within named Company with full
power of substitution on the premises.

	 	 	 	 	 
	Dated:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 	 	 
	Signature	 	 
	 
	 	 	 	 
	 	 	 
	Name for Registration	 	 
	 
	 	 	 	 
	In the Presence of:	 	 
	 
	 	 	 	 
	 	 	 

1.

 

Exhibit A

Amended and Restated Articles of Incorporation

 

AMENDED AND RESTATED

ARTICLES OF INCORPORATION OF

FLUIDIGM CORPORATION

     Gajus V. Worthington and William Smith certify that:

     1. They are the President and Secretary, respectively, of Fluidigm Corporation, a California
corporation (the “Corporation”).

     2. The Articles of Incorporation of the Corporation are amended and restated in full to read
as set forth in EXHIBIT A attached hereto and incorporated by reference as if fully set
forth herein.

     3. Said Amended and Restated Articles of Incorporation have been duly approved by the
Corporation’s Board of Directors.

     4. Said Amended and Restated Articles of Incorporation have been duly approved by the required
vote of shareholders in accordance with Sections 902 and 903 of the Corporations Code. The total
number of outstanding shares of the corporation is 7,753,917 shares of Common Stock, 2,727,273
shares of Series A Preferred Stock, 6,460,675 shares of Series B Preferred Stock and 14,315,608
shares of Series C Preferred Stock. The number of shares voting in favor of the amendment equaled
or exceeded the vote required. The percentage vote required was more than 50% of the outstanding
Common Stock, voting as a single class, more than 66 2/3% of the outstanding Series C Preferred
Stock, voting as a single class, more than 66 2/3% of the outstanding Preferred Stock voting as a
single class and more than 50% of the outstanding Common Stock and Preferred Stock, voting together
as a single class.

     I further declare under penalty of perjury that the matters set forth in the foregoing
certificate are true and correct of my own knowledge.

     Executed
at Palo Alto, California, this ___ day of October, 2002.

                                             

Gajus V. Worthington

President

                                                            

William Smith

Secretary

 

 

Exhibit A

AMENDED AND RESTATED

ARTICLES OF INCORPORATION OF

FLUIDIGM CORPORATION

ARTICLE I

     The name of the corporation is Fluidigm Corporation.

ARTICLE II

     The purpose of this corporation is to engage in any lawful act or activity for which a
corporation may be organized under the General Corporation Law of California other than the banking
business, the trust company business or the practice of a profession permitted to be incorporated
under the California Corporations Code.

ARTICLE III

     The total number of shares of stock that the corporation shall have authority to issue is
Seventy-Four Million Three Hundred Ninety Thousand Two Hundred Seventy-Four (74,390,274),
consisting of Forty-Four Million Six Hundred Fifty-One Thousand One Hundred Sixty-Three
(44,651,163) shares of Common Stock, $0.001 par value per share, and Twenty-Nine Million Seven
Hundred Thirty-Nine Thousand One Hundred Eleven (29,739,111) shares of Preferred Stock, $0.001 par
value per share. The first series of Preferred Stock shall be designated “Series A Preferred
Stock” and shall consist of Two Million Seven Hundred Twenty–Seven Thousand Two Hundred
Seventy–Three (2,727,273) shares. The second series of Preferred Stock shall be designated
“Series B Preferred Stock” and shall consist of Six Million Four Hundred Sixty Thousand Six Hundred
Seventy-Five (6,460,675) shares. The third series of Preferred Stock shall be designated “Series C
Preferred Stock” and shall consist of Twenty Million Five Hundred Fifty-One Thousand One Hundred
Sixty-Three (20,551,163) shares.

ARTICLE IV

     The terms and provisions of the Common Stock and Preferred Stock are as follows:

     1. Definitions. For purposes of this Article IV, the following definitions shall
apply:

          (a) “Conversion Price” shall mean $1.10 per share for the Series A Preferred Stock,
$1.78 per share for the Series B Preferred Stock and $2.58 per share for the Series C Preferred
Stock (each subject to adjustment from time to time as set forth elsewhere herein).

 

 

          (b) “Convertible Securities” shall mean any evidences of indebtedness, shares or other
securities (other than shares of Preferred Stock) convertible into or exchangeable for Common
Stock.

          (c) “Corporation” shall mean Fluidigm Corporation.

          (d) “Dividend Rate” shall mean an annual rate of $0.11 per share for the Series A
Preferred Stock, an annual rate of $0.18 for the Series B Preferred Stock and an annual rate of
$0.26 per share for the Series C Preferred Stock (each subject to adjustment from time to time as
set forth elsewhere herein).

          (e) “Liquidation Preference” shall mean $1.10 per share for the Series A Preferred
Stock, $1.78 per share for the Series B Preferred Stock and $2.58 per share for the Series C
Preferred Stock (each subject to adjustment from time to time as set forth elsewhere herein).

          (f) “Options” shall mean rights, options or warrants to subscribe for, purchase or
otherwise acquire Common Stock or Convertible Securities.

          (g) “Original Issue Price” shall mean $1.10 per share for the Series A Preferred
Stock, $1.78 for the Series B Preferred Stock and $2.58 per share for the Series C Preferred Stock
(each subject to adjustment from time to time as set forth elsewhere herein).

          (h) “Preferred Stock” shall mean the Series A Preferred Stock, Series B Preferred
Stock and the Series C Preferred Stock.

     2. Dividends.

          (a) Series C Preferred Stock. The holders of outstanding shares of Series C Preferred
Stock shall be entitled to receive dividends, when and as declared by the Board of Directors, out
of any assets at the time legally available therefor, at the Dividend Rate specified for such
shares of Preferred Stock payable in preference and priority to any declaration or payment of any
distribution on Series A Preferred Stock, Series B Preferred Stock or Common Stock (collectively,
the “Junior Stock”) of the Corporation other than a dividend payable solely in Common Stock. No
distributions shall be made with respect to the Junior Stock during any fiscal year of the
Corporation, other than dividends on the Common Stock payable solely in Common Stock, until all
declared dividends on the Series C Preferred Stock have been paid or set apart for payment to the
Series C Preferred Stock holders. The right to receive dividends on shares of Series C Preferred
Stock shall not be cumulative, and no right to such dividends shall accrue to holders of Series C
Preferred Stock by reason of the fact that dividends on said shares are not declared or paid in any
year.

          (b) Series A Preferred Stock and Series B Preferred Stock. The holders of outstanding
shares of Series A Preferred Stock and Series B Preferred Stock shall be entitled to receive
dividends, when and as declared by the Board of Directors, out of any assets at the time legally
available therefor, at the Dividend Rate specified for such shares of Preferred Stock payable in
preference and priority to any declaration or payment of any distribution on Common Stock of the
Corporation other than a dividend payable solely in Common Stock. No distributions shall be made

-2-

 

with respect to the Common Stock, other than dividends payable solely in Common Stock, until
all declared dividends on the Preferred Stock have been paid or set apart for payment to the
Preferred Stock holders. Payment of any dividends to the holders of the Series A Preferred Stock
and Series B Preferred Stock shall be on a pro-rata, pari passu basis in proportion to the Dividend
Rates for the Series A Preferred Stock and Series B Preferred Stock, as applicable. The right to
receive dividends on shares of Series A Preferred Stock and Series B Preferred Stock shall not be
cumulative, and no right to such dividends shall accrue to holders of Series A Preferred Stock or
Series B Preferred Stock by reason of the fact that dividends on said shares are not declared or
paid in any year.

          (c) Distribution. For purposes of this Section 2, unless the context otherwise
requires, a “distribution” shall mean the transfer of cash or other property without consideration
whether by way of dividend or otherwise, payable other than in Common Stock, or the purchase or
redemption of shares of the Corporation other than (i) repurchase of shares of Common Stock issued
to or held by employees, consultants, officers and directors of the Corporation or its subsidiaries
upon termination of their employment or services pursuant to agreements providing for the right of
said repurchase and at the original purchase price paid by such employees, consultants, officers
and directors; and (ii) repurchase of Common Stock issued to or held by employees, officers,
directors or consultants of the Corporation or its subsidiaries pursuant to rights of first refusal
contained in agreements providing for such rights, provided that such repurchase is unanimously
approved by the Board of Directors; and (iii) any other repurchase or redemption of capital stock
of the corporation unanimously approved by the Board of Directors and approved by the holders of
the majority of the Common Stock and the holders of more than two-thirds (2/3) of the outstanding
shares of the Preferred Stock, voting as separate classes.

          (d) Common Stock. Dividends may be paid on the Common Stock as and when declared by
the Board of Directors, subject to the prior dividend rights of the Preferred Stock and Section 6
below.

          (e) Non-Cash Distributions. Whenever a distribution provided for in this Section 2
shall be payable in property other than cash, the value of such distribution shall be deemed to be
the fair market value of such property as determined in good faith by the Board of Directors.

          (f) Consent to Certain Repurchases. As authorized by Section 402.5(c) of the
California Corporations Code, Sections 502, 503 and 506 of the California Corporations Code shall
not apply with respect to payments made by the Corporation in connection with (i) repurchase of
shares of Common Stock issued to or held by employees, consultants, officers and directors of the
Corporation or its subsidiaries upon termination of their employment or services pursuant to
agreements providing for the right of said repurchase and at the original purchase price paid by
such employees, consultants, officers and directors, and (ii) repurchase of Common Stock issued to
or held by employees, officers, directors or consultants of the Corporation or its subsidiaries
pursuant to rights of first refusal contained in agreements providing for such rights, provided
that such repurchase is unanimously approved by the Board of Directors, and (iii) any other
repurchase or redemption of capital stock of the Corporation unanimously approved by the Board of
Directors and approved by the holders of more than two-thirds (2/3) of the outstanding shares of
the Preferred Stock voting together as a single class.

-3-

 

     3. Liquidation Rights.

          (a) Series C Liquidation Preference. In the event of any liquidation, dissolution or
winding up of the Corporation, either voluntary or involuntary, the holders of the Series C
Preferred Stock shall be entitled to receive, prior and in preference to any distribution of any of
the assets of the Corporation to the holders of the Common Stock, the Series A Preferred Stock and
the Series B Preferred Stock by reason of their ownership of such stock, an amount per share for
each share of Series C Preferred Stock held by them equal to the sum of (i) the Liquidation
Preference for such shares and (ii) all declared and unpaid dividends on such share of Series C
Preferred Stock. If upon the liquidation, dissolution or winding up of the Corporation, the assets
of the Corporation legally available for distribution to the holders of the Series C Preferred
Stock are insufficient to permit the payment to such holders of the full amounts specified in this
Section 3(a), then the entire assets of the Corporation legally available for distribution shall be
distributed with equal priority and pro rata among the holders of the Series C
Preferred Stock in proportion to the full amounts they would otherwise be entitled to receive
pursuant to this Section 3(a).

          (b) Series B Liquidation Preference. After the payment to the holders of Series C
Preferred Stock of the full amounts specified in Section 3(a) above, the holders of the Series B
Preferred Stock shall be entitled to receive, prior and in preference to any distribution of any of
the remaining assets of the Corporation to the holders of the Common Stock and the Series A
Preferred Stock by reason of their ownership of such stock, an amount per share for each share of
Series B Preferred Stock held by them equal to the sum of (i) the Liquidation Preference for such
shares and (ii) all declared and unpaid dividends on such share of Series B Preferred Stock. If
the remaining assets of the Corporation legally available for distribution to the holders of the
Series B Preferred Stock are insufficient to permit the payment to such holders of the full amounts
specified in this Section 3(b), then the entire remaining assets of the Corporation legally
available for distribution shall be distributed with equal priority and pro rata
among the holders of the Series B Preferred Stock in proportion to the full amounts they would
otherwise be entitled to receive pursuant to this Section 3(b).

          (c) Series A Liquidation Preference. After the payment to the holders of Series C
Preferred Stock and the holders of Series B Preferred Stock of the full amounts specified in
Sections 3(a) and 3(b) above, the holders of the Series A Preferred Stock shall be entitled to
receive, prior and in preference to any distribution of any of the remaining assets of the
Corporation to the holders of the Common Stock by reason of their ownership of such stock, an
amount per share for each share of Series A Preferred Stock held by them equal to the sum of
(i) the Liquidation Preference for such shares and (ii) all declared and unpaid dividends on such
share of Series A Preferred Stock. If remaining assets of the Corporation legally available for
distribution to the holders of the Series A Preferred Stock are insufficient to permit the payment
to such holders of the full amounts specified in this Section 3(c), then the entire remaining
assets of the Corporation legally available for distribution shall be distributed with equal
priority and pro rata among the holders of the Series A Preferred Stock in
proportion to the full amounts they would otherwise be entitled to receive pursuant to this
Section 3(c).

          (d) Remaining Assets. After the payment to the holders of Preferred Stock of the full
amounts specified in Sections 3(a), 3(b) and 3(c) above, the entire remaining assets of the

 

-4-

 

Corporation legally available for distribution shall be distributed pro-rata to
holders of the Common Stock of the Corporation in proportion to the number of shares of Common
Stock held by them.

          (e) Shares Not Treated as Both Preferred Stock and Common Stock in Any Distribution.
Shares of Preferred Stock shall not be entitled to be converted into shares of Common Stock in
order to participate in any distribution, or series of distributions, as shares of Common Stock,
without first foregoing participation in the distribution, or series of distributions, as shares of
Preferred Stock.

          (f) Reorganization. For purposes of this Section 3, a liquidation, dissolution or
winding up of the Corporation shall be deemed to be occasioned by, or to include, (i) the
acquisition of the Corporation by another entity by means of any transaction or series of related
transactions (including, without limitation, any stock acquisition, reorganization, merger or
consolidation but excluding any merger effected exclusively for the purpose of changing the
domicile of the Corporation) other than a transaction or series of transactions in which the
holders of the voting securities of the Corporation outstanding immediately prior to such
transaction or series of transactions continue to retain (either by such voting securities
remaining outstanding or by such voting securities being converted into voting securities of the
surviving entity), as a result of shares in the Corporation held by such holders prior to such
transaction, at least fifty percent (50%) of the total voting power represented by the voting
securities of the Corporation or such surviving entity outstanding immediately after such
transaction or series of transactions; or (ii) a sale, transfer, lease or other conveyance of all
or substantially all of the assets of the Corporation.

          (g) Valuation of Non-Cash Consideration. If any assets of the Corporation distributed
to shareholders in connection with any liquidation, dissolution, or winding up of the Corporation
are other than cash, then the value of such assets shall be their fair market value as determined
in good faith by the Board of Directors, except that any securities to be distributed to
shareholders in a liquidation, dissolution, or winding up of the Corporation shall be valued as
follows:

               (i) If the securities are then traded on a national securities exchange or the Nasdaq Stock
Market System (or a similar national quotation system), then the value of the securities shall be
deemed to be to the average of the closing prices of the securities on such exchange or system over
the ten (10) trading day period ending five (5) trading days prior to the distribution;

               (ii) if the securities are actively traded over-the-counter, then the value of the securities
shall be deemed to be the average of the closing bid prices of the securities over the ten (10)
trading day period ending five (5) trading days prior to the distribution; or

               (iii) if there is no active public market for the securities, then the value of the securities
shall be deemed to be the fair market value thereof as determined in good faith by the Board of
Directors which determination shall include consideration of the illiquidity of the securities.

-5-

 

     In the event of a merger or other acquisition of the Corporation by another entity, the
distribution date shall be deemed to the date such transaction closes.

     For the purposes of this subsection 3(g), “trading day” shall mean any day on which the
exchange or system on which the securities to be distributed are traded is open, and “closing
prices” or “closing bid prices” shall be deemed to be: (i) for securities traded primarily on the
New York Stock Exchange, the American Stock Exchange or Nasdaq, the last reported trade price or
sale price, as the case may be, at 4:00 p.m., New York time, on that day and (ii) for securities
listed or traded on other exchanges, markets and systems, the market price as of the end of the
“regular hours” trading period that is generally accepted as such for such exchange, market or
system. If, after the date hereof, the benchmark times generally accepted in the securities
industry for determining the market price of a stock as of a given trading day shall change from
those set forth above, the fair market value shall be determined as of such other generally
accepted benchmark times.

     4. Conversion. The holders of the Preferred Stock shall have conversion rights as
follows (the “Conversion Rights”):

          (a) Right to Convert. Subject to Section 4(c), each share of Preferred Stock shall be
convertible, at the option of the holder thereof, at any time after the date of issuance of such
share at the office of the Corporation or any transfer agent for the Preferred Stock, into that
number of fully-paid, nonassessable shares of Common Stock determined by dividing the Original
Issue Price for the relevant series by the Conversion Price for such series. (The number of shares
of Common Stock into which each share of Preferred Stock of a series may be converted is
hereinafter referred to as the “Conversion Rate” for each such series.) Upon any decrease or
increase in the Conversion Price for any series of Preferred Stock, as described in this Section 4,
the Conversion Rate for such series shall be appropriately increased or decreased.

          (b) Automatic Conversion. Each share of Preferred Stock shall automatically be
converted into fully-paid, non-assessable shares of Common Stock at the then effective Conversion
Rate for such share (i) immediately prior to the closing of a firm commitment underwritten initial
public offering on Form S-1 (or successor form) filed under the Securities Act of 1933, as amended
(the “Securities Act”), covering the offer and sale of the Corporation’s Common Stock, provided
that the offering price per share is not less than $7.10 (as adjusted for stock splits or stock
dividends) and the aggregate gross proceeds to the Corporation are not less than $25,000,000, or
(ii) upon the receipt by the Corporation of a written request for such conversion from the holders
of two-thirds of the shares of Preferred Stock then outstanding, or, if later, the effective date
for conversion specified in such requests (each of the events referred to in (i) and (ii) being
hereinafter referred to as an “Automatic Conversion Event”).

          (c) Mechanics of Conversion. No fractional shares of Common Stock shall be issued
upon conversion of Preferred Stock. In lieu of any fractional shares to which the holder would
otherwise be entitled, the Corporation shall pay cash equal to such fraction multiplied by the then
fair market value of a share of Common Stock as determined by the Board of Directors. For such
purpose, all shares of Preferred Stock held by each holder of Preferred Stock shall be aggregated,
and any resulting fractional share of Common Stock shall be paid in cash. Before any holder of
Preferred Stock shall be entitled to convert the same into full shares of Common Stock, and

-6-

 

to receive certificates therefor, he shall surrender the certificate or certificates therefor,
duly endorsed, at the office of the Corporation or of any transfer agent for the Preferred Stock,
and shall give written notice to the Corporation at such office that he elects to convert the same;
provided, however, that on the date of an Automatic Conversion Event, the
outstanding shares of Preferred Stock shall be converted automatically without any further action
by the holders of such shares and whether or not the certificates representing such shares are
surrendered to the Corporation or its transfer agent; provided further, however, that the
Corporation shall not be obligated to issue certificates evidencing the shares of Common Stock
issuable upon such Automatic Conversion Event unless either the certificates evidencing such shares
of Preferred Stock are delivered to the Corporation or its transfer agent as provided above, or the
holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen
or destroyed and executes an agreement satisfactory to the Corporation to indemnify the Corporation
from any loss incurred by it in connection with such certificates. On the date of the occurrence
of an Automatic Conversion Event, each holder of record of shares of Preferred Stock shall be
deemed to be the holder of record of the Common Stock issuable upon such conversion,
notwithstanding that the certificates representing such shares of Preferred Stock shall not have
been surrendered at the office of the Corporation, that notice from the Corporation shall not have
been received by any holder of record of shares of Preferred Stock, or that the certificates
evidencing such shares of Common Stock shall not then be actually delivered to such holder.

     The Corporation shall, as soon as practicable after such delivery, or after such agreement and
indemnification, issue and deliver at such office to such holder of Preferred Stock, a certificate
or certificates for the number of shares of Common Stock to which he shall be entitled as aforesaid
and a check payable to the holder in the amount of any cash amounts payable as the result of a
conversion into fractional shares of Common Stock, plus any declared and unpaid dividends on the
converted Preferred Stock. Such conversion shall be deemed to have been made immediately prior to
the close of business on the date of such surrender of the shares of Preferred Stock to be
converted, and the person or persons entitled to receive the shares of Common Stock issuable upon
such conversion shall be treated for all purposes as the record holder or holders of such shares of
Common Stock on such date; provided, however, that if the conversion is in connection with
an underwritten offer of securities registered pursuant to the Securities Act the conversion may,
at the option of any holder tendering Preferred Stock for conversion, be conditioned upon the
closing of the sale of securities pursuant to such offering, in which event the person(s) entitled
to receive the Common Stock issuable upon such conversion of the Preferred Stock shall not be
deemed to have converted such Preferred Stock until immediately prior to the closing of the sale of
such securities.

          (d) Adjustments to Conversion Price for Diluting Issues.

               (i) Special Definition. For purposes of this paragraph 4(d), “Additional Shares of
Common” shall mean all shares of Common Stock issued (or, pursuant to paragraph 4(d)(iii), deemed
to be issued) by the Corporation after the filing of these Articles of Incorporation, other than:

                    (1) shares of Common Stock issued or issuable upon conversion of shares of Preferred Stock;

-7-

 

                    (2) shares of Common Stock issued or issuable to officers, directors and employees of, or
consultants and other service providers to, the Corporation pursuant to stock grants, option plans,
purchase plans or other employee stock incentive programs or arrangements approved by the Board of
Directors or upon exercise of options or warrants granted to such parties pursuant to any such
plan, program or arrangement;

                    (3) shares of Common Stock issued upon the exercise or conversion of Options or Convertible
Securities outstanding as of the date of the filing of these Articles of Incorporation;

                    (4) shares of Common Stock issued or issuable as a dividend or distribution on Preferred Stock
or pursuant to any event for which adjustment is made pursuant to paragraph 4(e), 4(f) or 4(g)
hereof;

                    (5) shares of Common Stock issued in a registered public offering under the Securities Act
pursuant to which all outstanding shares of Preferred Stock are automatically converted into Common
Stock pursuant to an Automatic Conversion Event;

                    (6) shares of Common Stock issued or issuable pursuant to the acquisition of another
corporation by the Corporation by merger, purchase of substantially all of the assets or other
reorganization or to a joint venture agreement, provided, that such issuances are unanimously
approved by the Board of Directors; and

                    (7) shares of Common Stock issued or issuable to banks, equipment lessors or other financial
institutions pursuant to a commercial leasing or debt financing transaction approved by the Board
of Directors.

               (ii) No Adjustment of Conversion Price. No adjustment in the Conversion Price of a
particular series of Preferred Stock shall be made in respect of the issuance of Additional Shares
of Common unless the consideration per share (as determined pursuant to paragraph 4(d)(v)) for an
Additional Share of Common issued or deemed to be issued by the Corporation is less than the
Conversion Price in effect on the date of, and immediately prior to such issue, for such series of
Preferred Stock.

               (iii) Deemed Issue of Additional Shares of Common. In the event the Corporation at
any time or from time to time after the date of the filing of these Articles of Incorporation shall
issue any Options or Convertible Securities or shall fix a record date for the determination of
holders of any class of securities entitled to receive any such Options or Convertible Securities,
then the maximum number of shares (as set forth in the instrument relating thereto without regard
to any provisions contained therein for a subsequent adjustment of such number) of Common Stock
issuable upon the exercise of such Options or, in the case of Convertible Securities, the
conversion or exchange of such Convertible Securities or, in the case of Options for Convertible
Securities, the exercise of such Options and the conversion or exchange of the underlying
securities, shall be deemed to have been issued as of the time of such issue or, in case such a
record date shall have been fixed, as of the close of business on such record date, provided that
in any such case in which shares are deemed to be issued:

-8-

 

                    (1) no further adjustment in the Conversion Price of the Preferred Stock shall be made upon
the subsequent issue of Convertible Securities or shares of Common Stock in connection with the
exercise of such Options or conversion or exchange of such Convertible Securities;

                    (2) if such Options or Convertible Securities by their terms provide, with the passage of time
or otherwise, for any increase in the consideration payable to the Corporation, or decrease in the
number of shares of Common Stock issuable, upon the exercise, conversion or exchange thereof, the
Conversion Price of the Preferred Stock computed upon the original issue thereof (or upon the
occurrence of a record date with respect thereto), and any subsequent adjustments based thereon,
shall, upon any such increase or decrease becoming effective, be recomputed to reflect such
increase or decrease insofar as it affects such Options or the rights of conversion or exchange
under such Convertible Securities;

                    (3) no readjustment pursuant to clause (2) above shall have the effect of increasing the
Conversion Price of the Preferred Stock to an amount which exceeds the lower of (i) the Conversion
Price of the Preferred Stock on the original adjustment date, or (ii) the Conversion Price of the
Preferred Stock that would have resulted from any issuance of Additional Shares of Common between
the original adjustment date and such readjustment date;

                    (4) upon the expiration of any such Options or any rights of conversion or exchange under such
Convertible Securities which shall not have been exercised, the Conversion Price computed upon the
original issue thereof (or upon the occurrence of a record date with respect thereto) and any
subsequent adjustments based thereon shall, upon such expiration, be recomputed as if:

                         (A) in the case of Convertible Securities or Options for Common Stock, the only Additional
Shares of Common issued were the shares of Common Stock, if any, actually issued upon the exercise
of such Options or the conversion or exchange of such Convertible Securities and the consideration
received therefor was the consideration actually received by the Corporation for the issue of such
exercised Options plus the consideration actually received by the Corporation upon such exercise or
for the issue of all such Convertible Securities which were actually converted or exchanged, plus
the additional consideration, if any, actually received by the Corporation upon such conversion or
exchange, and

                         (B) in the case of Options for Convertible Securities, only the Convertible Securities, if
any, actually issued upon the exercise thereof were issued at the time of issue of such Options,
and the consideration received by the Corporation for the Additional Shares of Common deemed to
have been then issued was the consideration actually received by the Corporation for the issue of
such exercised Options, plus the consideration deemed to have been received by the Corporation
(determined pursuant to Section 4(d)(v)) upon the issue of the Convertible Securities with respect
to which such Options were actually exercised; and

                    (5) if such record date shall have been fixed and such Options or Convertible Securities are
not issued on the date fixed therefor, the adjustment previously made in the Conversion Price which
became effective on such record date shall be canceled as of the close of

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business on such record date, and thereafter the Conversion Price shall be adjusted pursuant
to this paragraph 4(d)(iii) as of the actual date of their issuance.

               (iv) Adjustment of Conversion Price Upon Issuance of Additional Shares of Common. In
the event this Corporation shall issue Additional Shares of Common (including Additional Shares of
Common deemed to be issued pursuant to paragraph 4(d)(iii)) without consideration or for a
consideration per share less than the applicable Conversion Price of a series of Preferred Stock in
effect on the date of and immediately prior to such issue, then, the Conversion Price of the
affected series of Preferred Stock shall be reduced, concurrently with such issue, to a price
(calculated to the nearest cent) determined by multiplying such Conversion Price by a fraction, the
numerator of which shall be the number of shares of Common Stock outstanding immediately prior to
such issue plus the number of shares of Common Stock which the aggregate consideration received by
the Corporation for the total number of Additional Shares of Common so issued would purchase at
such Conversion Price, and the denominator of which shall be the number of shares of Common Stock
outstanding immediately prior to such issue plus the number of such Additional Shares of Common so
issued. For the purposes of this Subsection 4(d)(iv), all shares of Common Stock issuable upon
exercise of outstanding Options or the conversion of outstanding Convertible Securities and shares
of Preferred Stock, and all Additional Shares of Common deemed issued pursuant to
Subsection 4(d)(iii) hereof, shall be deemed to be outstanding.

               (v) Determination of Consideration. For purposes of this subsection 4(d), the
consideration received by the Corporation for the issue (or deemed issue) of any Additional Shares
of Common shall be computed as follows:

                    (1) Cash and Property. Such consideration shall:

                         (A) insofar as it consists of cash, be computed at the aggregate amount of cash received by
the Corporation excluding amounts paid or payable for accrued interest or accrued dividends;

                         (B) insofar as it consists of property other than cash, be computed at the fair market value
thereof at the time of such issue, as determined in good faith by the Board of Directors; and

                         (C) in the event Additional Shares of Common are issued together with other shares or
securities or other assets of the Corporation for consideration which covers both, be the
proportion of such consideration so received, computed as provided in clauses (a) and (b) above, as
reasonably determined in good faith by the Board of Directors.

                    (2) Options and Convertible Securities. The consideration per share received by the
Corporation for Additional Shares of Common deemed to have been issued pursuant to
paragraph 4(d)(iii) shall be determined by dividing

                         (X) the total amount, if any, received or receivable by the Corporation as consideration for
the issue of such Options or Convertible Securities, plus the minimum aggregate amount of
additional consideration (as set forth in the instruments relating

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thereto, without regard to any provision contained therein for a subsequent adjustment of such
consideration) payable to the Corporation upon the exercise of such Options or the conversion or
exchange of such Convertible Securities, or in the case of Options for Convertible Securities, the
exercise of such Options for Convertible Securities and the conversion or exchange of such
Convertible Securities by

                         (Y) the maximum number of shares of Common Stock (as set forth in the instruments relating
thereto, without regard to any provision contained therein for a subsequent adjustment of such
number) issuable upon the exercise of such Options or the conversion or exchange of such
Convertible Securities.

          (e) Adjustments for Subdivisions or Combinations of Common Stock. In the event the
outstanding shares of Common Stock shall be subdivided (by stock split, by payment of a stock
dividend or otherwise), into a greater number of shares of Common Stock, the Conversion Price of
each series of Preferred Stock in effect immediately prior to such subdivision shall, concurrently
with the effectiveness of such subdivision, be proportionately decreased. In the event the
outstanding shares of Common Stock shall be combined (by reclassification or otherwise) into a
lesser number of shares of Common Stock, the Conversion Prices in effect immediately prior to such
combination shall, concurrently with the effectiveness of such combination, be proportionately
increased.

          (f) Adjustments for Subdivisions or Combinations of Preferred Stock. In the event the
outstanding shares of Preferred Stock or a series of Preferred Stock shall be subdivided (by stock
split, by payment of a stock dividend or otherwise), into a greater number of shares of Preferred
Stock, the Dividend Rate, Original Issue Price and Liquidation Preference of the affected series of
Preferred Stock in effect immediately prior to such subdivision shall, concurrently with the
effectiveness of such subdivision, be proportionately decreased. In the event the outstanding
shares of Preferred Stock or a series of Preferred Stock shall be combined (by reclassification or
otherwise) into a lesser number of shares of Preferred Stock, the Dividend Rate, Original Issue
Price and Liquidation Preference of the affected series of Preferred Stock in effect immediately
prior to such combination shall, concurrently with the effectiveness of such combination, be
proportionately increased.

          (g) Adjustments for Reclassification, Exchange and Substitution. Subject to Section 3
above (“Liquidation Rights”), if the Common Stock issuable upon conversion of the Preferred Stock
shall be changed into the same or a different number of shares of any other class or classes of
stock, whether by capital reorganization, reclassification or otherwise (other than a subdivision
or combination of shares provided for above), then, in any such event, in lieu of the number of
shares of Common Stock which the holders would otherwise have been entitled to receive each holder
of such Preferred Stock shall have the right thereafter to convert such shares of Preferred Stock
into a number of shares of such other class or classes of stock which a holder of the number of
shares of Common Stock deliverable upon conversion of such series of Preferred Stock immediately
before that change would have been entitled to receive in such reorganization or reclassification,
all subject to further adjustment as provided herein with respect to such other shares.

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          (h) No Impairment. The Corporation will not through any reorganization, transfer of
assets, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or
seek to avoid the observance or performance of any of the terms to be observed or performed
hereunder by the Corporation but will at all times in good faith assist in the carrying out of all
the provisions of this Section 4 and in the taking of all such action as may be necessary or
appropriate in order to protect the Conversion Rights of the holders of Preferred Stock against
impairment. Notwithstanding the foregoing, nothing in this Section 4(h) shall prohibit the
Corporation from amending its Articles of Incorporation with the requisite consent of its
shareholders and the board of directors.

          (i) Certificate as to Adjustments. Upon the occurrence of each adjustment or
readjustment of the Conversion Price pursuant to this Section 4, the Corporation at its expense
shall promptly compute such adjustment or readjustment in accordance with the terms hereof and
furnish to each holder of Preferred Stock a certificate setting forth such adjustment or
readjustment and showing in detail the facts upon which such adjustment or readjustment is based.
The Corporation shall, upon the written request at any time of any holder of Preferred Stock,
furnish or cause to be furnished to such holder a like certificate setting forth (i) such
adjustments and readjustments, (ii) the Conversion Price at the time in effect and (iii) the number
of shares of Common Stock and the amount, if any, of other property which at the time would be
received upon the conversion of Preferred Stock.

          (j) Notices of Record Date. In the event that this Corporation shall propose at any
time:

               (i) to declare any dividend or distribution upon its Common Stock, whether in cash, property,
stock or other securities, whether or not a regular cash dividend and whether or not out of
earnings or earned surplus;

               (ii) to effect any reclassification or recapitalization of its Common Stock outstanding
involving a change in the Common Stock; or

               (iii) to voluntarily liquidate or dissolve or to enter into any transaction deemed to be a
liquidation, dissolution or winding up of the corporation pursuant to Section 3(f);

then, in connection with each such event, this Corporation shall send to the holders of the
Preferred Stock at least 14 days’ prior written notice of the date on which a record shall be taken
for such dividend, distribution or subscription rights (and specifying the date on which the
holders of Common Stock shall be entitled thereto) or for determining rights to vote in respect of
the matters referred to in (ii) and (iii) above.

     Each such written notice shall be given by first class mail, postage prepaid, addressed to the
holders of Preferred Stock at the address for each such holder as shown on the books of this
Corporation.

     The right of the holders of the Preferred Stock to notice hereunder may be waived, either
prospectively or retroactively and either generally or in a particular instance, by the holders of
more

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than two-thirds (2/3) of the outstanding shares of the Preferred Stock voting together as a
single class.

          (k) Reservation of Stock Issuable Upon Conversion. The Corporation shall at all times
reserve and keep available out of its authorized but unissued shares of Common Stock solely for the
purpose of effecting the conversion of the shares of the Preferred Stock, such number of its shares
of Common Stock as shall from time to time be sufficient to effect the conversion of all then
outstanding shares of the Preferred Stock; and if at any time the number of authorized but unissued
shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding
shares of the Preferred Stock, the Corporation will take such corporate action as may, in the
opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock
to such number of shares as shall be sufficient for such purpose.

          (l) Waiver of Adjustment of Conversion Price. Notwithstanding anything herein to the
contrary, any downward adjustment of the Conversion Price of any series of Preferred Stock may be
waived, either prospectively or retroactively and either generally or in a particular instance, by
the consent or vote of the holders of more than two-thirds (2/3) of the outstanding shares of such
series. Any such waiver shall bind all future holders of shares of such series of Preferred Stock.

     5. Voting.

          (a) Restricted Class Voting. Except as otherwise expressly provided herein or as
required by law, the holders of Preferred Stock and the holders of Common Stock shall vote together
and not as separate classes.

          (b) No Series Voting. Other than as provided herein or required by law, there shall
be no series voting.

          (c) Preferred Stock. Each holder of Preferred Stock shall be entitled to the number
of votes equal to the number of shares of Common Stock into which the shares of Preferred Stock
held by such holder could be converted as of the record date. The holders of shares of the
Preferred Stock shall be entitled to vote on all matters on which the Common Stock shall be
entitled to vote. Holders of Preferred Stock shall be entitled to notice of any shareholders’
meeting in accordance with the Bylaws of the Corporation. Fractional votes shall not, however, be
permitted and any fractional voting rights resulting from the above formula (after aggregating all
shares into which shares of Preferred Stock held by each holder could be converted), shall be
disregarded.

          (d) Common Stock. Each holder of shares of Common Stock shall be entitled to one vote
for each share thereof held.

          (e) Election of Directors. So long as at least 2,000,000 shares (as adjusted for
Recapitalizations) of Preferred Stock remain outstanding, the holders of Series C Preferred Stock,
voting as a separate class, shall be entitled to elect three (3) members of the Corporation’s Board
of Directors at each meeting or pursuant to each consent of the Corporation’s shareholders for the
election of directors. Any additional members of the Corporation’s Board of Directors shall be
elected by the holders of Common Stock, Series A Preferred Stock and Series B Preferred Stock,

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voting together as a single class. If a vacancy on the Board of Directors is to be filled by
the Board of Directors, only directors elected by the same class or classes of shareholders as
those who would be entitled to vote to fill such vacancy shall vote to fill such vacancy.

     6. Amendments and Changes Requiring Approval of Preferred Stock. As long as any of
the Preferred Stock shall be issued and outstanding, the Corporation shall not, without first
obtaining the approval (by vote or written consent as provided by law) of the holders of more than
two-thirds (2/3) of the outstanding shares of the Preferred Stock voting together as a single
class:

          (a) amend, alter or repeal any provision of the Articles of Incorporation or By-laws of the
Corporation if such action would adversely alter the rights, preferences, privileges or powers of,
or restrictions provided for the benefit of the Preferred Stock or any series thereof;

          (b) enter into any transaction or series of related transactions deemed to be a liquidation,
dissolution or winding up of the Corporation pursuant to Section 3(f) above.

          (c) voluntarily liquidate or dissolve;

          (d) declare or pay any distribution (as defined in Section 2(c)) with respect to the Common
Stock of the Corporation;

          (e) permit any subsidiary of the Corporation to sell securities to a third party;

          (f) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Preferred Stock;

          (g) authorize or create (by reclassification or otherwise) any new class or series of capital
stock having rights, preferences or privileges with respect to dividends, liquidation, redemption,
conversion or other rights senior to or on a parity with any series of Preferred Stock or with
respect to voting senior to any series of Preferred Stock;

          (h) increase or decrease the authorized number of directors of the Corporation; or

          (i) amend this Section 6.

     7. Amendments and Changes Requiring the Approval of the Series C Preferred Stock. As
long as any of the Series C Preferred Stock shall be issued and outstanding, the Corporation shall
not, without first obtaining the approval (by vote or written consent as provided by law) of the
holders of two-thirds of the outstanding shares of the Series C Preferred Stock:

          (a) amend, alter or repeal any provision of the Articles of Incorporation of the Corporation
if such action would adversely alter the rights, preferences, privileges or powers of, or
restrictions provided for the benefit of the Series C Preferred Stock in a manner different from
any other series of Preferred Stock;

          (b) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Series C Preferred Stock;

-14-

 

          (c) authorize or create (by reclassification or otherwise) any new class or series of capital
stock having rights, preferences or privileges with respect to dividends, payments upon liquidation
or other rights senior to or on a parity with the Series C Preferred Stock or with respect to
voting senior to the Series C Preferred Stock;

          (d) declare or pay any distribution (as defined in Section 2(c)) with respect to the Common
Stock or Preferred Stock of the Corporation;

          (e) increase the authorized number of directors of the Corporation above nine (9); or

          (f) amend this Section 7.

     8. Amendments and Changes Requiring the Approval of the Series B Preferred Stock. As
long as any of the Series B Preferred Stock shall be issued and outstanding, the Corporation shall
not, without first obtaining the approval (by vote or written consent as provided by law) of the
holders of two-thirds of the outstanding shares of the Series B Preferred Stock:

          (a) amend, alter or repeal any provision of the Articles of Incorporation of the Corporation
if such action would adversely alter the rights, preferences, privileges or powers of, or
restrictions provided for the benefit of the Series B Preferred Stock in a manner different from
any other series of Preferred Stock;

          (b) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Series B Preferred Stock; or

          (c) amend this Section 8.

     9. Status of Converted Stock. In the event any shares of Preferred Stock shall be
converted pursuant to Article 4 hereof, then the shares so converted shall be cancelled and shall
not be issuable by the Corporation. The Articles of Incorporation shall be appropriately amended
to effect the corresponding reduction in the Corporation’s authorized capital stock.

     10. Notices. Any notice required by the provisions of this Article IV to be given to
the holders of Preferred Stock shall be deemed given if deposited in the United States mail,
postage prepaid, and addressed to each holder of record at such holder’s address appearing on the
books of the Corporation.

ARTICLE V

     1. Limitation of Directors’ Liability. The liability of the directors of this
Corporation for monetary damages shall be eliminated to the fullest extent permissible under
California law.

     2. Indemnification of Corporate Agents. This Corporation is authorized to provide
indemnification of agents (as defined in Section 317 of the California Corporations Code) through
bylaw provisions, agreements with agents, votes of shareholders or disinterested directors or

-15-

 

otherwise, in excess of the indemnification otherwise permitted by Section 317 of the
California Corporations Code, subject only to the applicable limits set forth in Section 204 of the
California Corporations Code with respect to actions for breach of duty to this Corporation and its
shareholders.

     3. Repeal or Modification. Any repeal or modification of the foregoing provisions of
this Article V shall not adversely affect any right of indemnification or limitation of liability
of an agent of this Corporation relating to acts or omissions occurring prior to such repeal or
modification.

(THE GREAT SEAL OF THE STATE OF CALIFORNIA - OFFICE OF THE SECRETARY OF STATE)

-16-

 

Exhibit d

Notice of Borrowing

                    , ________

Lighthouse
Capital Partners V, L.P.

500 Drake’s Landing Road

Greenbrae, CA 94904-3011

Ladies and Gentlemen:

     Reference
is made to the Loan and Security Agreement No. 4561 dated as of March 29, 2005 (as
it has been and may be amended from time to time, the “Loan Agreement,” initially capitalized
terms used herein as defined therein), between Lighthouse Capital Partners V, L.P. and
Fluidigm Corporation (the “Company”)

     The undersigned is the President and CEO of the Company, and hereby irrevocably requests an
Advance under the Loan Agreement, and in that connection certifies as follows:

     1. The amount of the proposed Advance is $                    . The business day of the proposed Advance is                     .

     2. The
Loan Commencement Date for this Advance shall be March 1, 2006.

     3. As of this date, no Event of Default, or event which with notice or the passage of time
would constitute an Event of Default, has occurred and is continuing, or will result from the
making of the proposed Advance, and the representations and warranties of the Company contained in
Section 5 of the Loan Agreement are true and correct in all material respects.

     4. No event that could reasonably be expected to have a material adverse effect on the
ability of Borrower to fulfill its obligations under the Loan Agreement has occurred since the
date of the most recent financial statements, submitted to you by the Company.

     The Company agrees to notify you promptly before the funding of the Advance if any of the
matters to which I have certified above shall not be true and correct
on the Funding Date.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

1

 

Exhibit e

Incumbency Certificate

     The undersigned, William Smith, hereby certifies that:

1. He/She is the duly elected and acting General Counsel and Vice
President of Legal Affairs of
Fluidigm
Corporation, a California
corporation (the “Company”).

2. That on the date hereof, each person listed below holds the office in the Company indicated
opposite his or her name and that the signature appearing thereon is the genuine signature of each
such person:

	 	 	 	 	 	 	 
	NAME	 	OFFICE	 	SIGNATURE	 	 
	 
	 	 	 	 	 	 
	Gajus Worthington

	 	President and CEO	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 
	 	 
	William Smith

	 	General Counsel and Vice 

President of Legal Affairs	 	 
	 	 

3.
Attached hereto as Exhibit A is a true and correct copy of the Articles of Incorporation of the
Company, as amended, as in effect as of the date hereof.

4. Attached hereto as Exhibit B is a true and correct copy of the Bylaws of the Company, as
amended, as in effect as of the date hereof.

5. Attached hereto as Exhibit C is a copy of the resolutions of the Board of Directors of the
Company authorizing and approving the Company’s execution, delivery and performance of a loan
facility with Lighthouse Capital Partners V, L.P.

     IN WITNESS WHEREOF, the undersigned has executed this Incumbency Certificate on March
29, 2005.

	 	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	
	 	 

	 	 
	 

	 	Name:
	 	 

William Smith
	 	 
	 
	 	 	Title:	 	General Counsel and Vice President of Legal Affairs

     I, the President and CEO of the Company, do hereby certify that William Smith is the duly
qualified, elected and acting General Counsel and Vice President of Legal Affairs of the Company
and that the above signature is his or her genuine signature.

     IN WITNESS WHEREOF, the undersigned has executed and delivered this Officer’s Certificate on
March 29, 2005.

	 	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	
	 	 

	 	 
	 

	 	Name:
	 	 

Gajus Worthington
	 	 
	 
	 

	 	Title:
	 	President and CEO	 	 

1

 

 

Exhibit f

Officer’s Certificate

     The undersigned, to induce Lighthouse Capital Partners V, L.P. (“Lender”), to extend or
continue financial accommodations to Fluidigm Corporation, a California corporation (the
“Borrower”) pursuant to the terms of that certain
Loan and Security Agreement dated March 29, 2005
(the “Loan Agreement”), hereby certifies that on the date hereof:

	 	1.	 	I am the duly elected and acting                      of Borrower.
	 
	 	2.	 	I am a Responsible Officer as that term is defined in the Loan Agreement.
	 
	 	3.	 	The information submitted herewith complies with Sections
5.7 and 6.2 of the Loan
Agreement.
	 
	 	4.	 	The financial statements delivered herewith fairly present the financial condition of
Borrower
	 
	 	5.	 	Borrower is currently able to meet its obligations as they come due.
	 
	 	6.	 	I understand that Lender is relying upon the truthfulness, accuracy and
completeness hereof in connection with the Loan Agreement.
	 
	 	7.	 	I will advise you if it comes to my attention that, as of the date hereof, the
information submitted herewith was not in fact true, correct and complete.

     IN WITNESS WHEREOF, the undersigned has executed this Officer’s Certificate on                     .

	 	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	
	 	 

	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 

1

 

 

Exhibit g

Authorization for Automatic Payment

The
undersigned Fluidigm
Corporation (“Borrower”) authorizes
Lighthouse Capital Partners
V, L.P.
and any and all affiliated funds (collectively, “Lender”) and the bank / financial institution
(“Bank”) named below to initiate variable debit and/or credit entries to Borrower’s deposit,
checking or savings accounts as designated below and to cause funds transfers to an account of
Lender as payment of any and all amounts due under the Loan and Security Agreement between
Borrower and Lender dated March             , 2005 (the “Loan Agreement”).

1. Lender is hereby authorized to initiate
variable debit and/or credit transactions and
resulting funds transfers in Borrower’s designated accounts with respect to amounts calculated
by Lender to be due and owing to Lender by Borrower periodically under the Loan Agreement.
Borrower consents to all such debit and/or credit transactions and resulting funds transfers and
hereby authorizes Lender to take all such actions as may be required by Bank with respect to
such transactions. Borrower acknowledges and agrees that such credit and/or debit entries may be
made in amounts due under the Loan Agreement in order to cause timely payments as required by
the terms of the Loan Agreement.

2. Borrower hereby authorizes Lender to
release to Bank all information concerning Borrower that
may be necessary or desirable for Bank to investigate or recover any erroneous funds transfers
that may occur.

3. Borrower acknowledges and agrees that
all such debit and/or credit transactions and funds
transfers are intended to be made through an Automated Clearing House system and in compliance
with the NACHA Rules and in compliance with Bank’s security procedures.

4. Borrower represents and warrants that the account information set forth below is accurate and
complete and that each of the account(s) set forth below is a business account maintained in
Borrower’s name and for Borrower’s account.

This Consent shall be effective as of March 29, 2005 and shall remain in effect until the Loan
Agreement has been terminated. Any cancellation by Borrower of this consent shall (i) be made in
writing and (ii) delivered to Bank and Lender in such time as to afford Bank and Lender a
reasonable opportunity to act on said cancellation.

	 	 	 	 	 
	 

	 	          Wells Fargo Bank
 

(Name of Borrower’s Bank)
	 	 

	 	 	 	 	 	 	 	 	 
	 

	 	          420 Montgomery St.
	 	San Francisco
	 	CA
	 	94104 
	 	 	 
	 

	 	(Address of Bank)
	 	(City)
	 	(State)
	 	(Zip Code)

	 	 	 	 	 	 	 
	 

	 	Bank Routing Number
	 	     [***]
 

     (between these symbols “ /:” “:/” on bottom left of check)
	 	 

               Account Number:          [***]          (checking /deposit /savings)          (circle one)

               Copy of a voided check is attached to this form

	 	 	 	 	 	 	 
	Borrower Name:	 	Fluidigm
Corporation	 	 
	Borrower Address:	 	7100 Shoreline
Court	 	 
	 	 	South San Francisco.
CA 94080	 	 
	Authorized by:
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 

	 	 
	Date authorized:
	 	 	 	 	 	 
	 	 	 	 	 

Internal ACH Authorizations from Lender:

Approved by:        
                   
             Date:      
                   
      

1

 

Exhibit h

Negative Pledge Agreement

          This Negative Pledge Agreement is made as of March 29, 2005, by and between
Fluidigm Corporation (“Borrower”) and Lighthouse Capital Partners V, L.P.
(“Lender”).

In consideration of the Loan and Security Agreement between the parties of proximate date herewith
(the “Loan Agreement”), Borrower agrees as follows:

Except as otherwise permitted in the Loan Agreement, Borrower shall not sell, transfer, assign,
mortgage, pledge, lease, grant a security interest in, or encumber any of Borrower’s owned
intellectual property, including, without limitation, the following:

(a) Any and all copyright rights, copyright applications, copyright registration and like
protection in each work or authorship and derivative work thereof, whether published or
unpublished and whether or not the same also constitutes a trade secret, now or hereafter
existing, created, acquired or held (collectively, the “Copyrights”);

(b) Any and all trade secrets, and any and all intellectual property rights in computer software
and computer software products now or hereafter existing, created, acquired or held;

(c) Any and all design rights which may be available to Borrower now or hereafter existing,
created, acquired or held;

(d) All patents, patent applications and like protections, including, without limitation,
improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part
of the same, including, without limitation, the patents and patent applications (collectively, the
“Patents”);

(e) Any trademark and servicemark rights, whether registered or not, applications to register and
registrations of the same and like protections, and the entire goodwill of the business of
Borrower connected with and symbolized by such trademarks (collectively, the “Trademarks”);

(f) Any and all claims for damages by way of past, present and future infringements of any of the
rights included above, with the right, but not the obligation, to sue for an collect such damages
for said use or infringement of the intellectual property rights identified above;

(g) Any and all licenses or other rights to use any of the Copyrights, Patents or Trademarks and
all license fees and royalties arising from such use to the extent permitted by such license or
rights

(h) Any and all amendments, extensions, renewals and extensions of any of the Copyrights,
Patents or Trademarks; and

(i) Any and all proceeds and products of the foregoing, including, without limitation, all payments
under insurance or any indemnity or warranty payable in respect of
any of the foregoing.

It shall be an Event of Default under the Loan Agreement if there is a breach of any term of this
Negative Pledge Agreement. Borrower agrees to properly execute all documents reasonably required
by Lender in order to fulfill the intent and purposes hereof.

	 	 	 	 	 	 	 	 	 	 	 
	Fluidigm Corporation	 	 	 	Lighthouse Capital Partners V, L.P.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:	 	 	 	 	 	By: Lighthouse Management Partners V, L.L.C., its
	 
	 	 	 	 	 	 general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Name:
	 	 	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 By:	 	 	 	 
	Title:

	 	 	 	 	 	 	 	 

	 	 
	 

	 	 

	 	 	 	 Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

	 	 
	 

	 	 	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

	 	 

1

 

Exhibit I

Control Agreement

[In form and substance acceptable to Lender in its reasonable discretion]

 

1

 

RESTRICTED ACCOUNT AGREEMENT

(ACCOUNT RESTRICTED AFTER INSTRUCTIONS — Standing Wire Transfers)

This Restricted Account Agreement (the “Agreement”), dated as of the date specified at the end of
this Agreement, is entered into among Fluidigm Corporation (“Company”), Lighthouse Capital Partners
V, L.P. (“Secured Party”) and the Wells Fargo Bank identified in the signature block at the end of
this Agreement (“Bank”), and sets forth the rights of Secured Party and the obligations of Bank
with respect to the deposit account(s) of Company at Bank identified at the end of this Agreement
as the “Restricted Account(s)”. As used in this Agreement, the term “Restricted Account” refers,
individually and collectively, to each such deposit account.

	1.	 	Secured Party’s Interest in Restricted Account. Secured Party represents that it is either
(i) a lender who has extended credit to Company and has been granted a security interest in
the Restricted Account or (ii) such a lender and the agent for a group of such lenders (the
“Lenders”). Company hereby confirms, and Bank hereby acknowledges, the security interest
granted by Company to Secured Party in all of Company’s right, title and interest in and to
the Restricted Account and all sums now or hereafter on deposit in or payable or withdrawable
from the Restricted Account (the “Account Funds”). Except as specifically provided otherwise
in this Agreement, Company has given Secured Party complete control over the Account Funds. Secured
Party hereby appoints Bank as agent for Secured Party only for the purpose of perfecting
the security interest of Secured Party in the Account Funds while they are in the
Restricted Account. Company and Secured Party would like to use the Restricted Account
Service of Bank described in this Agreement (the “Service”) to further the arrangements
between Secured Party and Company regarding the Restricted Account and the Account Funds.
	 
	2.	 	Access to Restricted Account. Secured Party agrees that Company will be allowed access to the
Account Funds until Bank receives written instructions from Secured Party directing that
Company no longer have access to any Account Funds (the “Instructions”). Company agrees that
the Account Funds should be paid to Secured Party after Bank receives the Instructions, and
hereby irrevocably authorizes Bank to comply with the Instructions even if Company objects in
any way to the Instructions. Company further agrees that after Bank receives the Instructions,
Company will not have access to any Account Funds.
	 
	3.	 	Balance Reports. Bank agrees, at the telephone request of Secured Party on any Business Day
(a day on which Bank is open to conduct its regular banking business, other than a Saturday,
Sunday or public holiday), to make available to Secured Party a report (“Balance Report”)
showing the opening available balance in the Restricted Account as of the beginning of such
Business Day, either on-line or by facsimile transmission, at Bank’s option. Company expressly
consents to this transmission of information. Secured Party and Company understand and agree
that the opening available balance in the Restricted Account at the beginning of any Business
Day will be determined after deducting from the Restricted Account the face amount of all
Returned Items (as defined in Section 8 of this Agreement).
	 
	4.	 	Transfers to Secured Party. Bank agrees that on each Business Day after it receives the
Instructions it will transfer to the Secured Party’s account specified at the end of this
Agreement

			
	 	 	 
	Restricted Account Agreement

(Revised 09/21/01)
	 	Page 1

 

 

	 	 	with the bank specified at the end of this Agreement (the “Secured Party Account”) the full
amount of the opening available balance in the Restricted Account at the beginning of such
Business Day. Bank will use the Fedwire system to make each funds transfer unless for any
reason the Fedwire system is unavailable, in which case Bank will determine the funds
transfer system to be used in making each funds transfer and the means by which each
transfer will be made. Bank, Secured Party and Company each agree that Bank will comply with
instructions given to Bank by Secured Party directing disposition of funds in the Restricted
Account without further consent by Company, subject otherwise to the terms of this Agreement
and Bank’s standard policies, procedures and documentation in effect from time to time
governing the type of disposition requested. Company authorizes all such transfers. Except
as otherwise required by law, Bank will not agree with any third party to comply with
instructions for disposition of funds in the Restricted Account originated by such third
party.
	 
	5.	 	Delays in Making Funds Transfers. Secured Party and Company understand that a funds transfer
may be delayed or not made if (a) the transfer would cause Bank to exceed any limitation on
its intra-day net funds position established in accordance with Federal Reserve or other
regulatory guidelines or to violate any other Federal Reserve or other regulatory risk control
program, or (b) the funds transfer would otherwise cause Bank to violate any applicable law or
regulation. If a funds transfer cannot be made or will be delayed, Bank will notify Secured
Party by telephone.
	 
	6.	 	Reliance on Identifying Numbers. If Secured Party indicates a name and an identifying number
for the bank of the person or entity to receive funds transfers out of the Restricted Account,
Secured Party and Company understand and agree that Bank may rely on the number Secured Party
indicates even if that number identifies a bank different from the bank Secured Party named.
If Secured Party indicates a name and an account number for the person or
entity to receive funds transfers out of the Restricted Account, Secured Party and Company
understand and agree that Bank may rely on the account number Secured Party indicates
even if that account number is not the account number for the person or entity who is to
receive the transfers.
	 
	7.	 	Reporting Errors in Transfers. If Secured Party or Company learns of any error in a funds
transfer or any unauthorized funds transfer, then the party learning of such error or
unauthorized transfer (the “Informed Party”) must notify Bank as soon as possible by telephone
at (800) AT- WELLS (which is a recorded line), and provide written confirmation to Bank of
such telephonic notice within two Business Days at the address given for Bank on the signature
page of this Agreement. In no case may such notice to Bank by an Informed Party be made more
than fourteen (14) calendar days after such Informed Party learns of the erroneous or
unauthorized transfer. If a funds transfer is made in error and Bank suffers a loss because an
Informed Party breached its agreement to notify Bank of such error within the time limits
specified in this Section 7, then such Informed Party shall reimburse Bank for the loss
promptly upon demand by Bank; provided, however, that in the event both Secured Party and
Company breach this notification requirement, Secured Party shall not be obligated to
reimburse Bank for the loss unless Company fails to satisfy Bank’s demand for reimbursement
within fifteen (15) calendar days after demand is made on Company.
	 
	8.	 	Returned Item Amounts. Secured Party and Company understand and agree that the face amount
(“Returned Item Amount”) of each Returned Item will be paid by Bank debiting the Restricted
Account, without prior notice to Secured Party or Company. As used in this Agreement, the term
“Returned Item” means (i) any item deposited to the Restricted Account and returned unpaid,
whether for insufficient funds or for any other reason, and without regard to the timeliness
of such return or the occurrence or timeliness of any drawee’s
notice of non-payment; (ii) any
item subject to a claim against Bank of breach of transfer or presentment warranty under the
Uniform Commercial Code, as adopted in the applicable state; (iii) any automated clearing
house (“ACH”) entry credited to the Restricted Account and returned unpaid

			
	 	 	 
	Restricted Account Agreement

(Revised 09/21/01)
	 	Page 2

 

 

		 	or subject to an adjustment entry under applicable clearing house rules, whether for
insufficient funds or for any other reason, and without regard to the timeliness of such
return or adjustment; (iv) any credit to the Restricted Account from a merchant card
transaction, against which a contractual demand for chargeback has been made; and (v) any
credit to the Restricted Account made in error. Company agrees to pay all Returned Item
Amounts immediately on demand, without setoff or counterclaim, to the extent there are not
sufficient funds in the Restricted Account to cover the Returned Item Amounts on the day
they are to be debited from the Restricted Account. Secured Party agrees to pay all Returned
Item Amounts within thirty (30) calendar days after demand, without setoff or counterclaim,
to the extent the Returned Item Amounts are not paid in full by Company within fifteen (15)
calendar days after demand on Company by Bank, and to the extent Secured Party received
proceeds from the corresponding Returned Items.
	 
	9.	 	Bank Fees. Company agrees to pay all Bank’s fees and charges for the maintenance and
administration of the Restricted Account and for the treasury management and other account
services provided with respect to the Restricted Account (collectively “Bank Fees”),
including, but not limited to, the fees for (a) the Balance Reports provided on the Restricted
Account, (b) the wire transfer services received with respect to the Restricted Account, (c)
Returned Items, (d) funds advanced to cover overdrafts in the Restricted Account (but without
Bank being in any way obligated to make any such advances), and (e) duplicate bank statements
on the Restricted Account. Before Bank receives the Instructions, the Bank Fees will be paid
by Bank debiting the Restricted Account, and after Bank receives the Instructions the Bank
fees will be paid by Bank debiting one or more of the demand deposit operating accounts of
Company at Bank specified at the end of this Agreement (the “Operating Accounts”). All such
debits will be made on the Business Day that the Bank Fees are due without notice to Secured
Party or Company. If there are not sufficient funds in the Restricted Account, or after Bank
receives the Instructions, the Operating Accounts, to cover fully the Bank Fees on the Business Day they
are debited from the Restricted Account or the Operating Accounts, or if no Operating
Accounts are indicated at the end of this Agreement, such shortfall or the amount of
such Bank Fees will be paid by Company sending Bank a check in the amount of such
shortfall or such Bank Fees, without setoff or counterclaim, within fifteen (15)
calendar days after demand of Bank. After Bank receives the Instructions, Secured Party
agrees to pay the Bank Fees within thirty (30) calendar days after demand, without
setoff or counterclaim, to the extent such Bank Fees are not paid in full by Company by
check within fifteen (15) calendar days after demand on Company by Bank. Bank may, in
its discretion, change the Bank Fees upon thirty (30) calendar days prior written notice
to Company and Secured Party.
	 
	10.	 	Account Documentation. Secured Party and Company agree that, except as specifically provided
in this Agreement, the Restricted Account will be subject to, and Bank’s operation of the
Restricted Account will be in accordance with, the terms and provisions of Bank’s deposit
account agreement governing the Restricted Account (“Account
Agreement”), a copy of which
Company and Secured Party acknowledge having received.
	 
	11.	 	Bank Statements. After Bank receives the Instructions, Bank will, if so indicated on the
signature page of this Agreement, send to Secured Party by United States mail, at the address
indicated for Secured Party after its signature to this Agreement, duplicate copies of all
bank statements on the Restricted Account which are sent to Company. Company and/or Secured
Party will have thirty (30) calendar days after receipt of a bank statement to notify Bank of
an error in such statement. Bank’s liability for such errors is limited as provided in the
“Limitation of Liability” section of this Agreement.
	 
	12.	 	Partial Subordination of Bank’s Rights. Bank hereby subordinates to the security interest of
Secured Party in the Restricted Account (i) any security interest which Bank may have or
acquire in the Restricted Account, and (ii) any right which Bank may have or acquire to set
off or otherwise apply any Account Funds against the payment of any indebtedness from time to
time

			
	 	 	 
	Restricted Account Agreement

(Revised 09/21/01)
	 	Page 3

 

 

		 	owing to Bank from Company, except for debits to the Restricted Account permitted under this
Agreement for the payment of Returned Item Amounts or Bank Fees.
	 
	13.	 	Bankruptcy Notice; Effect of Filing. If Bank at any time receives notice of the commencement
of a bankruptcy case or other insolvency or liquidation proceeding by or against Company (a
“Bankruptcy Notice”), Bank will continue to comply with its obligations under this Agreement,
except to the extent that any action required of Bank under this Agreement is prohibited under
applicable bankruptcy laws or regulations or is stayed pursuant to the automatic stay imposed
under the United States Bankruptcy Code or by order of any court or agency. With respect to
any obligation of Secured Party hereunder which requires prior demand upon Company, the
commencement of a bankruptcy case or other insolvency or liquidation proceeding by or against
Company shall automatically eliminate the necessity of such demand
upon Company by Bank, and
shall immediately entitle Bank to make demand on Secured Party with the same effect as if
demand had been made upon Company and the time for Company’s performance had expired.
	 
	14.	 	Legal Process, Legal Notices and Court Orders. Bank will comply with any legal process, legal
notice or court order it receives if Bank determines in its sole discretion that the legal
process, legal notice or court order is legally binding on it.
	 
	15.	 	Indemnification for Following Instructions. Secured Party and Company each agree that,
notwithstanding any other provision of this Agreement, except to the extent caused by Bank’s
gross negligence or willful misconduct Bank will not be liable to Secured Party or Company for
any losses, liabilities, damages, claims (including, but not limited to, third party claims),
demands, obligations, actions, suits, judgments, penalties, costs or expenses, including, but
not limited to, attorneys’ fees, (collectively, “Losses and Liabilities”) suffered or incurred
by Secured Party or Company as a result of or in connection with, (a) Bank complying with any
binding legal process, legal notice or court order referred to in Section 14 of this
Agreement, (b) Bank following any instruction or request of Secured Party, or (c) Bank
complying with its obligations under this Agreement. Further, Company, and to the extent
not paid by Company within fifteen (15) calendar days after demand, Secured Party, will
indemnify Bank against any Losses and Liabilities Bank may suffer or incur as a result of
or in connection with any of the circumstances referred to in clauses (a) through (c) of
the preceding sentence.
	 
	16.	 	No Representations or Warranties of Bank. Bank agrees to perform its obligations under this
Agreement in a manner consistent with the quality provided when Bank performs similar services
for its own account. However, Bank will not be responsible for the errors, acts or omissions
of others, such as communications carriers, correspondents or clearinghouses through which
Bank may perform its obligations under this Agreement or receive or transmit information in
performing its obligations under this Agreement. Secured Party and Company also understand
that Bank will not be responsible for any loss, liability or delay caused by wars, failures in
communications networks, labor disputes, legal constraints, fires, power surges or failures,
earthquakes, civil disturbances or other events beyond Bank’s control. BANK MAKES NO EXPRESS
OR IMPLIED REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE SERVICE OTHER THAN THOSE
EXPRESSLY SET FORTH IN THIS AGREEMENT.
	 
	17.	 	Limitation of Liability. In the event that Secured Party, Company or Bank suffers or incurs
any Losses and Liabilities as a result of, or in connection with, its or any other party’s
performance or failure to perform its obligations under this Agreement, the affected parties
shall negotiate in good faith in an effort to reach a mutually satisfactory allocation of such
Losses and Liabilities, it being understood that Bank will not be responsible for any Losses
and Liabilities due to any cause other than its own negligence or breach of this Agreement, in
which case its liability to Secured Party and Company shall, unless otherwise provided by any
law which cannot be

			
	 	 	 
	Restricted Account Agreement

(Revised 09/21/01)
	 	Page 4

 

 

	 	 	varied by contract, be limited to direct money damages in an amount not to exceed ten (10)
times all the Bank Fees charged or incurred during the calendar month immediately preceding
the calendar month in which such Losses and Liabilities occurred (or, if no Bank Fees were
charged or incurred in the preceding month, the Bank Fees charged or incurred in the month
in which the Losses and Liabilities occurred). Company will indemnify Bank against all
Losses and Liabilities suffered or incurred by Bank as a result of third party claims;
provided, however, that to the extent such Losses and Liabilities are directly caused by
Bank’s negligence or breach of this Agreement such indemnity will only apply to those Losses
and Liabilities which exceed the liability limitation specified in the preceding sentence.
The limitation of Bank’s liability and the indemnification by Company set out above will not
be applicable to the extent any Losses and Liabilities of any party to this Agreement are
directly caused by Bank’s gross negligence or willful misconduct. IN NO EVENT WILL BANK BE
LIABLE FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, INDIRECT OR PUNITIVE DAMAGES, WHETHER ANY
CLAIM IS BASED ON CONTRACT OR TORT, WHETHER THE LIKELIHOOD OF SUCH DAMAGES WAS KNOWN TO BANK
AND REGARDLESS OF THE FORM OF THE CLAIM OR ACTION, INCLUDING, BUT NOT LIMITED TO, ANY CLAIM
OR ACTION ALLEGING GROSS NEGLIGENCE, WILLFUL MISCONDUCT, FAILURE TO EXERCISE REASONABLE CARE
OR FAILURE TO ACT IN GOOD FAITH. Any action against Bank by Company or Secured Party under
or related to this Agreement must be brought within twelve months after the cause of action
accrues.
	 
	18.	 	Termination. This Agreement and the Service may be terminated by Secured Party or Bank at any
time by either of them giving thirty (30) calendar days prior written notice of such
termination to the other two parties to this Agreement at their contact addresses specified
after their signatures to this Agreement; provided, however, that this Agreement and the
Service may
be terminated immediately upon written notice from Bank to Company and Secured Party
should Secured Party fail to make any payment when due to Bank from Secured Party under
the terms of this Agreement. Secured Party and Company agree that the Restricted Account
may be closed by Bank as provided in the Account Agreement. Company’s and Secured
Party’s obligation to report errors in funds transfers and bank statements and to pay
the Bank Fees, as well as the indemnifications made, and the limitations on the
liability of Bank accepted, by Company and Secured Party under this Agreement will
continue after the termination of this Agreement and/or the closure of the Restricted
Account with respect to all the circumstances to which they are applicable existing or
occurring before such termination or closure, and any liability of any party to this
Agreement, as determined under the provisions of this Agreement, with respect to acts or
omissions of such party prior to such termination or closure will also survive such
termination or closure. Upon any termination of this Agreement and the Service or
closure of the Restricted Account all collected and available balances in the Restricted
Account on the date of such termination or closure will be transferred to Secured Party
as requested by Secured Party in writing to Bank.
	 
	19.	 	Modifications, Amendments, and Waivers. This Agreement may not be modified or amended, or any
provision thereof waived, except in a writing signed by all the parties to this Agreement;
provided, however, that the Bank Fees may be changed after thirty (30) calendar days prior
written notice to Company and Secured Party.
	 
	20.	 	Notices. All notices from one party to another shall be in writing, or be made by a telecommunications
device capable of creating a written record, shall be delivered to Company,
Secured Party and/or Bank at their contact addresses specified after their signatures to this
Agreement, or any other address of any party notified to the other parties in writing, and
shall be effective upon receipt. Any notice sent by one party to this Agreement to another
party shall also be sent to the third party to this Agreement. Bank is authorized by Company
and Secured Party to act on any instructions or notices received by Bank if (a) such
instructions or notices

			
	 	 	 
	Restricted Account Agreement

(Revised 09/21/01)
	 	Page 5

 

 

	 	 	purport to be made in the name of Secured Party, (b) Bank reasonably believes that they are
so made, and (c) they do not conflict with the terms of this Agreement as such terms may be
amended from time to time, unless such conflicting instructions or notices are supported by
a court order.
	 
	21.	 	Successors and Assigns. Neither Company nor Secured Party may assign or transfer its rights
or obligations under this Agreement to any person or entity without the prior written consent
of Bank, which consent will not be unreasonably withheld. Bank may not assign its rights or
obligations under this Agreement to any person or entity without the prior written consent of
Secured Party, which consent will not be unreasonably withheld; provided, however, that no
such consent will be required if the assignee is a bank affiliate of Bank.
	 
	22.	 	Governing Law. Company and Secured Party understand that Bank’s provision of the Service
under this Agreement is subject to federal laws and regulations. To the extent that such
federal laws and regulations are not applicable this Agreement shall be governed by and be
construed in accordance with the laws of the state in which the office of Bank that maintains
the Restricted Account is located, without regard to conflict of laws principles.
	 
	23.	 	Severability. To the extent that this Agreement or the Service to be provided under this
Agreement are inconsistent with, or prohibited or unenforceable under, any applicable law or
regulation, they will be deemed ineffective only to the extent of such prohibition or
unenforceability and be deemed modified and applied in a manner consistent with such law or
regulation. Any provision of this Agreement which is deemed unenforceable or invalid in any
jurisdiction shall not affect the enforceability or validity of the remaining provisions of
this Agreement or the same provision in any other jurisdiction.
	 
	24.	 	Usury. It is never the intention of Bank to violate any applicable usury or interest rate
laws. Bank does not agree to, or intend to contract for, charge, collect, take, reserve or
receive (collectively, “charge or collect”) any amount in the nature of interest or in the
nature of a fee, penalty or other charge which would in any way or event cause Bank to charge
or collect more than the maximum Bank would be permitted to charge or collect by any
applicable federal or state law. Any such excess interest or unauthorized fee shall,
notwithstanding anything stated to the contrary in this Agreement, be applied first to reduce
the amount owed, if any, and then any excess amounts will be refunded.
	 
	25.	 	Counterparts. This Agreement may be executed in any number of counterparts each of which
shall be an original with the same effect as if the signatures thereto and hereto were upon
the same instrument.
	 
	26.	 	Entire Agreement. This Agreement, together with the Account Agreement, contains the entire
and only agreement among all the parties to this Agreement and between Bank and Company, and
Bank and Secured Party, with respect to (a) the Service, (b) the interest of Secured Party and
the Lenders in the Account Funds and the Restricted Account, and (c) Bank’s obligations to
Secured Party and the Lenders in connection with the Account Funds and the Restricted Account.

This Agreement has been signed by the duly authorized officers or representatives of Company,
Secured Party and Bank on the date specified below.

			
	 	 	 
	Restricted Account Agreement

(Revised 09/21/01)
	 	Page 6

 

 

Date:
March 29, 2005

	 	 	 	 	 
	Restricted Account Number(s):

	 	 	[***]	 
	Operating Account Number(s):

	 	 	[***]	 
	Secured Party Account Number:

	 	 	[***]	 
	Bank of Secured Party Account:

	 	Comerica
Bank

Secured Party is to be sent duplicate Bank Statements.

	 	 	 	 	 
	[Company] FLUIDIGM CORPORATION

	 	[Secured Party] LIGHTHOUSE CAPITAL
	 

	 	PARTNERS V, L.P.
	 
	 	 
	 

	 	BY: LIGHTHOUSE MANAGEMENT
	 

	 	PARTNERS V, L.L.C. ITS GENERAL
	 

	 	PARTNER

	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 

	 	 	 	 	 	 

	 	 
	Name: Gajus Worthington	 	 	 	Name: Thomas Conneely	 	 
	Title: CEO	 	 	 	Title: Vice President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Address For All Notices:	 	 	 	Address For All Notices:	 	 
	 
	Fluidigm Corporation	 	 	 	Lighthouse Capital Partners V, L.P.	 	 
	Attn: James Neesen	 	 	 	500 Drakes Landing Road	 	 
	7100 Shoreline Court	 	 	 	Greenbrae, CA 94904	 	 
	 	 	 	 	 	 	Attn: Contracts Administration	 	 

	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK
     , N.A.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Scott M. Van Gorder	 	 
	 	 	Title: Vice President, Senior Relationship Manager	 	 
	 
	 	 	 	 	 	 
	 	 	Address For All Notices:	 	 
	 
	 	 	420 Montgomery
Street,
9th
Floor	 	 
	 	 	MAC A0101-096	 	 
	 	 	San Francisco, CA 94108	 	 

			
	 	 	 
	Restricted Account Agreement

(Revised 09/21/01)
	 	Page 7

 

March 29,
2005

Morgan Stanley & Co. Incorporated (the “Broker”)

555 California Street 14th Floor

San Francisco, CA 94104

Re: Notice of Pledge and Security

Gentlemen:

Please be advised that the undersigned, Fluidigm Corporation (“Pledgor”), has pledged a security
interest in Account No. [***] (the “Account”) held by Broker, as securities intermediary,
and in all of the securities, proceeds, cash or other assets now or hereafter held in the Account
(collectively, the “Collateral”), to Lighthouse Capital Partners V, L.P. (“Pledgee”) pursuant to
the terms and provisions of a certain Loan and Security Agreement (the “Agreement”), dated March
29, 2005.

Broker,
Pledgor and Pledgee, by signing this letter, hereby agree as follows:

a) The
Account shall be retitled “Fluidigm Corporation — Pledgor/
Lighthouse Capital – Pledgee”;

b) Pledgee has a security interest in the Collateral and is authorized to instruct the Broker
with regard to the Account without further consent needed by Pledgor;

c) Broker is hereby notified of Pledgee’s security interest, and agrees to comply with all
instructions and entitlement orders of Pledgee with regard to the Account. Broker shall
not comply with instructions and entitlement orders with respect to the Collateral or the
Account that are originated by the Pledgor except as described in Paragraph D below.
Broker is also hereby authorized and agrees to send duplicate copies of any and all
statements and confirmations, as well as any other appropriate correspondence, relating to
the Account directly to the Pledgee at the address indicated below, or to such other
address as Pledgee may designate in writing. This pledge will remain in full force and
effect until Pledgee notifies Broker in writing to the contrary;

d) Pledgee hereby instructs Broker that until further instruction in writing from an
Authorized Officer of Pledgee (as defined below) that Pledgee is assuming exclusive
control over the Account (“Notice of Exclusive Control”), the Broker shall comply with
directions of Pledgor with respect to any transactions, including withdrawals, in the
Account. Notwithstanding anything contained herein, upon receipt of a Notice of
Exclusive Control (it being understood that Broker shall have no duty or obligation
whatsoever to investigate or determine whether the Notice of Exclusive Control was

 

 

rightfully or legally issued), Broker shall only follow the directions and instructions of
Pledgee with regard to the Account. In that case, if Pledgee so requests, Broker will proceed to
liquidate the assets of the Account in accordance with Pledgee’s instructions and to deliver the
proceeds to Pledgee.

     For purposes of this Agreement, “Authorized Officer of Pledgee” shall refer to any one of
the following individuals: Richard Stubblefield and Thomas Conneely. If Pledgee finds it
necessary to designate a replacement for any of the designated Authorized Officers of Pledgee,
written notice of replacement shall be given to Broker, which notice shall be signed by the
President, an Executive Vice President, a Senior Vice President, or such other officer of Pledgee
as Broker may approve. However, Broker shall be entitled to rely on any notice it receives from
someone whom it reasonably believes is an Authorized Officer of Pledgee;

e) Broker shall have no obligation to monitor the Account for any purpose in connection
with the pledge granted hereunder. The Pledgee accepts and acknowledges full
responsibility for reviewing daily confirmations and monthly statements to ensure that it
is adequately secured;

f) Pledgor and Pledgee hereby agree to indemnify and hold harmless Broker, its affiliates,
officers, and employees from and against any and all claims, causes of actions, liabilities,
lawsuits, demands, and/or damages, including, without limitation, any and all court costs and
reasonable attorney’s fees, that might result by reason of the actions of Broker under this
Agreement. Broker shall not be responsible for any losses, claims, damages, liabilities and
expenses incurred by Pledgor or Pledgee, except to the extent that such losses, claims,
damages, liabilities or expenses arise out of the bad faith, gross negligence, or criminal
acts or omissions on the part of Broker;

g) Broker may terminate this Agreement at any time by canceling the Account and
transferring all funds and securities in the Account to Pledgee;

h) As of the date hereof, the Collateral has not been paid to or withdrawn by the Pledgor; Broker
is not in receipt of any notice of withdrawal or redemption with regard to the Collateral or
notice not to renew the Account, and Broker has not given any notice that the Account will not be
renewed or extended, as the case may be;

i) Broker’s records indicate that the value of the Collateral, as of the date hereof, is
approximately [***].

j) Broker subordinates any right of offset Broker may now or hereafter have against the
Collateral for any indebtedness now or hereafter owing to Broker by the Pledgors to the security
interest of Pledgee; provided that Broker shall continue to have a first perfected
security interest in the Collateral with respect to any charges incurred in connection with the
operation of the Account, including, but not limited to, fees, commissions and any costs related
to unsettled securities transactions.

 

 

k) This Agreement shall be governed by the law of the State of New York, excluding its conflict of
law rules. The parties hereby agree that (i) the “securities intermediary’s jurisdiction” with
respect to the Account and the Collateral is New York and (ii) the parties shall not agree with any
other person that such securities intermediary’s jurisdiction is any jurisdiction other than New
York.

	 	 	 	 	 
	 

	 	Very truly yours,
	 	 
	 

	 	FLUIDIGM CORPORATION	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	 	 	 
	 

	 	By:    James Neeson	 	 
	 

	 	Title: Controller	 	 

Read and Agreed to:

MORGAN STANLEY & CO. INCORPORATED

	 	 	 	 	 
	By
	 	 	 	 
	 

	 	 

     Name:
	 	 
	 

	 	     Title:	 	 

LIGHTHOUSE CAPITAL PARTNERS V, L.P.

	 	 	 
	By:

	 	Lighthouse Management Partners V, L.L.C.
	 

	 	its general partner

	 	 	 	 	 
	By
	 	 	 	 
	 

	 	 	 	 
	 

	 	     Name: Thomas Conneely
	 	 
	 

	 	     Title: Vice President	 	 
	 

	 	     Address: 500 Drakes Landing Road	 	 
	 

	 	Greenbrae, CA 94904
	 	 

 

 

SUBORDINATION AGREEMENT

     This SUBORDINATION AGREEMENT (this “Agreement”), dated as of March 29, 2005, is between, on
the one hand, each undersigned holder (each a “Holder” and collectively the “Holders”) of
Convertible Promissory Notes issued pursuant to those certain Convertible Note Purchase Agreement
dated December 18, 2003, as amended from time to time (each a “Note” and collectively the “Notes”)
issued by Fluidigm Corporation, a California corporation (“Company”), and, on the other
hand, Lighthouse Capital
Partners V, L.P., a Delaware limited partnership (“LCP”), lender
under that certain Loan and Security Agreement No. 4561, dated March 29, 2005 (the “Loan
Agreement”) with Company (all obligations of payment and performance due or to become due pursuant
to the Obligations or the Loan Documents as those terms are defined therein, as the same may be
amended from time to time, are the “LCP Obligations”), with reference to the following:

     WHEREAS, in order to induce LCP to enter into the Loan Agreement, the Holders agree to enter
into this Agreement;

     NOW, THEREFORE, in consideration of the mutual promises herein contained, the parties
hereby agree as follows:

     1. Subordination. Each Holder agrees that it shall not receive any payment of any
amounts on account of the Notes until the LCP Obligations have been paid and performed in
full.
Regardless of (i) any agreement of any Holder or LCP with Company, (ii) the time, place,
manner or order of attachment, perfection, or the filing of UCC-1 filings or other documents,
or
(iii) the giving or failure to give notice, each Holder does hereby subordinate payment by
Company on its Notes to the full and final payment to LCP of the LCP Obligations. Each Holder
agrees that all payments and the proceeds received by Holders on account of the Notes shall be
held by them in trust for LCP for the payment of the LCP Obligations, and turned over to LCP
in
kind upon receipt of notice from LCP that Company has failed to pay LCP any of the LCP Obligations. Holders hereby agree they have no security interest in any property of the Company.

Notwithstanding anything in this Agreement, (i) in the event the Convertible Note, dated as of
December 18, 2003 (the “Initial EDB Note”), issued by Company to Biomedical Sciences Investment Fund
Pte Ltd (“BMSIF”) has not been converted according to the terms set forth in Section 2 of such
Initial EDB Note by the Payment Date (as defined in such Initial EDB Note), BMSIF may receive
payment by the Company in an amount not to exceed 50% of the principal amount outstanding under
such Initial EDB Note, and (ii) each Holder may convert any Note into capital stock of the Company
and accept cash in lieu of fractional shares in connection with any such conversion. Upon
conversion of any Note into capital stock of the Company and acceptance of cash in lieu of
fractional shares in connection with any such conversion, this Agreement shall terminate with
respect to such Note and any proceeds received by a Holder in connection with the conversion of
such Note.

     2. Bankruptcy. (Subject to paragraph (1) above), Each Holder agrees that upon any

 

 

distribution of assets or readjustment of indebtedness of Company, whether by liquidation,
bankruptcy, assignment for the benefit of creditors, or otherwise, LCP shall receive payment in
full on the LCP Obligations before Holder receives payment of any amounts due under the Notes and
Holders shall pay over to LCP any amounts so received by them related to the Notes until the LCP
Obligations are paid in full. In furtherance thereof, each Holder authorizes LCP to make and vote
(without LCP being obligated to make or vote) any and all proofs of claim respecting the Notes in
any such proceeding and to receive and collect all dividends or other payments thereupon; provided
that LCP will pay over to Holders a pro rata distribution of amounts received by it in excess of
that necessary for the full and final satisfaction of the LCP Obligations. Holders agree to execute
such instruments of assignment and other documents as may be necessary to enforce such claims and
collect such dividends or to otherwise carry out the intent and purpose hereof.

     3. Representations. Each party hereto warrants and represents to the others
that it has full power and authority to enter hereinto and to perform all obligations hereunder,
that this Agreement is valid, binding and enforceable in accordance with its terms and that
execution and performance hereof does not violate any agreement with any other person or entity.
Each Holder represents and warrants that it (i) is the owner of the Notes, free and clear of the
claims of any others, (ii) has not heretofore subordinated or assigned the Notes or its interest
therein to any entity, (iii) will not transfer any Notes to any entity other than one which agrees
to be bound hereby, and (iv) waives any rights to claim that the enforceability of this Agreement
may be affected by any subsequent modification, release, extension,
or change in LCP obligations.

     4. No Third Party Beneficiaries. Company has no rights hereunder. This
Agreement is made only for the benefit of Holders and LCP and their successors and assigns, and may
not be relied upon by any other third party, including Company or any successor thereto or any
judgment lien creditor thereof. Nothing herein shall constitute a commitment or agreement by either
of LCP or Holder to provide funds to Company.

     5. Miscellaneous. This Agreement: (i) may only be amended by a writing signed by
LCP and the affected Holder; (ii) contains the entire agreement between Holders and LCP with
respect to its subject matter, and all prior negotiations, documents and discussions are
superseded
hereby; (iii) shall be governed by the laws of the state of California; (iv) may be executed
in
counterparts delivered by telefacsimile, all of which, when taken together, shall constitute
one
and the same original document; and (v) may be attached to a Form UCC-1 and filed in the
public records of any jurisdiction; and (vi) shall terminate upon the full, final and
indefeasible
payment and performance by Company to LCP of all LCP Obligations.

     6. Waiver of Jury Trial. TO THE FULLEST EXTENT PERMITTED BY LAW,
EACH OF THE PARTIES HERETO WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY
JURY IN RESPECT OF LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF,
UNDER OR IN CONNECTION WITH THIS AGREEMENT. EACH PARTY FURTHER
WAIVES ANY RIGHT TO CONSOLIDATE ANY ACTION IN WHICH A JURY TRIAL HAS
BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE
OR HAS NOT BEEN WAIVED.

 

 

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

Lighthouse
Capital Partners V, L.P.

a Delaware limited partnership

	 	 	 	 	 
	by:

	 	Lighthouse Management Partners V, L.L.C.
	 	 
	 

	 	its general partner	 	 
	 
	 	 	 	 
	by:

	 	/s/ Thomas Conneely	 	 
	 

	 	 	 	 
	 

	 	Thomas Conneely	 	 
	 

	 	Vice President	 	 
	 
	 	 	 	 
	 

	 	500 Drakes Landing Road	 	 
	 

	 	Greenbrae, CA 94904	 	 
	 

	 	Attn: Contracts Administration	 	 
	 

	 	Tel: (415) 464-5900	 	 
	 

	 	Fax: (415) 925-3387	 	 

 

 

HOLDERS:

Biomedical
Sciences Investment Fund Ptd 
Ltd

	 	 	 	 	 
	By: 

Title:

	 	/s/ Lily Chan
 

Director
	 	 
	 

	 	20 Biopolis Way	 	 
	 

	 	#09-01 Centros	 	 
	 

	 	Singapore 138668	 	 
	 

	 	Attn: Lily Chan, PhD	 	 
	 

	 	Tel: 65-6395-7700	 	 
	 

	 	Fax: 65-6395-7796	 	 

Invus,
L.P.

	 	 	 	 	 
	By:

	 	Invus Advisors, LLC
	 	 
	 

	 	   Its general partner	 	 

	 	 	 	 	 
	By:
	 	 	 	 
	Title:

	 	 
	 	 
	 

	 	135 East 57th Street	 	 
	 

	 	New York, NY 10022	 	 
	 

	 	Attn: Phillipe J. Amouyal	 	 
	 

	 	Tel: (212) 371-1717	 	 
	 

	 	Fax: (212) 371-1829	 	 

Company hereby acknowledges and consents to the Agreement, promises to take all such action as may
be necessary to fulfill its essential intent and purpose, agrees that failure to do so shall be an
Event of Default under the LCP Obligations, and acknowledges that in the transactions referenced
herein it has been advised to seek, and has selected, counsel of its own choosing, namely Wilson,
Sonsini, Goodrich & Rosati of Palo Alto, California.

Fluidigm
Corporation

	 	 	 	 	 
	By
	 	 	 	 
	Its
	 	 	 	 
	 

	 	 	 	 

Signature page to Fluidigm Corporation

Subordination Agreement

Fluidigm Confidential

 

 

HOLDERS:

Biomedical
Sciences Investment Fund Ptd Ltd

	 	 	 	 	 
	By:
	 	 	 	 
	Title:

	 	 

	 	 
	 

	 	 

	 	 
	 

	 	20 Biopolis Way	 	 
	 

	 	#09-01 Centros	 	 
	 

	 	Singapore 138668	 	 
	 

	 	Attn: General Manager	 	 
	 

	 	Tel: 65-6395-7700	 	 
	 

	 	Fax: 65-6395-7796	 	 

Invus,
L.P.

	 	 	 	 	 
	By:

	 	Invus Advisors, LLC
	 	 
	 

	 	   Its general partner	 	 

	 	 	 	 	 
	By: 

Title:

	 	/s/ Aflalo Guimaraes
 

Managing Director
	 	 
	 

	 	135 East
57th Street	 	 
	 

	 	New York, NY 10022	 	 
	 

	 	Attn: Phillipe J. Amouyal	 	 
	 

	 	Tel: (212) 371- 1717	 	 
	 

	 	Fax: (212) 371-1829	 	 

Company hereby acknowledges and consents to the Agreement, promises to take all such action as may
be necessary to fulfill its essential intent and purpose, agrees that failure to do so shall be an
Event of Default under the LCP Obligations, and acknowledges that in the transactions referenced
herein it has been advised to seek, and has selected, counsel of its own choosing, namely Wilson,
Sonsini, Goodrich & Rosati of Palo Alto, California.

Fluidigm
Corporation

	 	 	 	 	 
	By
	 	 	 	 
	Its
	 	 	 	 
	 

	 	 	 	 

 

 

HOLDERS:

Biomedical
Sciences Investment Fund Ptd
Ltd

	 	 	 	 	 
	By:
	 	 	 	 
	Title:

	 	 
	 	 
	 

	 	20 Biopolis Way	 	 
	 

	 	#09-01 Centros	 	 
	 

	 	Singapore 138668	 	 
	 

	 	Attn: General Manager	 	 
	 

	 	Tel: 65-6395-7700	 	 
	 

	 	Fax: 65-6395-7796	 	 

Invus,
L.P.

	 	 	 	 	 
	By:

	 	Invus Advisors, LLC
	 	 
	 

	 	Its general partner	 	 

	 	 	 	 	 
	By:
	 	 	 	 
	Title:

	 	 
	 	 
	 

	 	135 East 57th Street	 	 
	 

	 	New York, NY 10022	 	 
	 

	 	Attn: Phillipe J. Amouyal	 	 
	 

	 	Tel: (212) 371-1717	 	 
	 

	 	Fax: (212) 371-1829	 	 

Company hereby acknowledges and consents to the Agreement, promises to take all such action as may
be necessary to fulfill its essential intent and purpose, agrees that failure to do so shall be an
Event of Default under the LCP Obligations, and acknowledges that in the transactions referenced
herein it has been advised to seek, and has selected, counsel of its own choosing, namely Wilson,
Sonsini, Goodrich & Rosati of Palo Alto, California.

Fluidigm Corporation

	 	 	 	 	 
	By

	 	/s/ Gajus Worthington
	 	 
	 

	 	 	 	 
	Its

	 	President & CEO	 	 
	 

	 	 	 	 

 

 

AMENDMENT NO. 01 (“Amendment”)

TO LOAN AND SECURITY AGREEMENT NO. 4561

Entered into as of August 4, 2006 by and between

Lighthouse Capital Partners V, L.P. (“Lender”) and Fluidigm Corporation (“Borrower”).

RECITALS

     WHEREAS, Borrower and Lender have previously entered into that certain Loan and Security
Agreement No. 4561 dated as of March 29, 2005 (the “Loan and Security Agreement”; all initially
capitalized terms not otherwise defined herein shall have the meanings given to such terms in
the Loan and Security Agreement), together with the other agreements and instruments entered
into in connection therewith (collectively, the “Loan Documents”); and

     WHEREAS, Borrower and Lender each have agreed to amend the Loan Documents subject to
Borrower’s performance of the terms and conditions hereof; and

     WHEREAS, as of August 31, 2006, Borrower and Lender mutually agree that the outstanding
principal balance of the Loans is $11,093,832.04;

     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein
contained, the parties hereby agree to modify the Loan Documents by entering into this Amendment
and Borrower agrees to perform such other covenants and conditions as follows:

A) Loan and Security Agreement

     (i) Definitions — The definition of “Subordinated Indebtedness”, shall be amended and
restated to read as follows:

“Subordinated Indebtedness” means Indebtedness of Borrower to Singapore EDB (including
its investment fund BioMedical Sciences Investment Fund Ptd Ltd) and Invus Group that is
subordinated in both security and right of payment to the Obligations on terms and
conditions reasonably satisfactory to Lender in an amount not to exceed $8,000,000.

B) Secured Term Promissory Note

(i) Definitions — The following definitions shall be added to the Notes, and to the
extent these terms are already defined in the Loan Documents, they shall be deleted in their
entirety and replaced with the following:

     “Final Payment” means 11.25% of the Advance.

     “Basic Rate” means a variable per annum rate of interest equal to the Index plus the
Interest Margin which shall be subject to adjustment as provided herein. On and after March 1,
2006 through and including August 31, 2006, the Basic Rate shall be fixed at 10.00%. On and
after September 1, 2006, the Basic Rate shall be fixed at 9.75%.

     “Repayment
Period” means the period beginning on the Loan Commencement Date and continuing
for 48 calendar months.

C) Additional Terms and Conditions

1.

 

	 	1.	 	Repayment. Notwithstanding anything contained in any Note issued in connection
with the Loan and Security Agreement, Section 1 of each such Note shall be superseded by the following payment
terms: for and on account of all of the Notes, from March 1, 2006 through and including August 31,
2006, Borrower will pay Lender $416,006.71 per month. On and after September 1, 2006 through February 28,
2010, Borrower shall pay Lender $310,305.95 per month. In addition to all other amounts due or to
become due hereunder, the Final Payment is due on the earliest to occur of the Maturity Date or March
1, 2009.
	 
	 	2.	 	Restructure Fee. In addition to all other amounts due or to become due
hereunder, on the earliest to occur of (i) the Maturity Date; (ii) the date of prepayment of all of the Notes, or (ii) March 1,
2009, Borrower shall pay to Lender a restructure fee in the amount of $150,000, in cash.
	 
	 	3.	 	Expenses. Borrower shall pay reasonable fees and expenses incurred by
Lender’s legal counsel in connection with the preparation and negotiation of documentation related to this Amendment.
Such restructure expenses are due and payable when billed.

D)           Acknowledgments; Representations and Warranties. Borrower warrants and represents to
Lender, as a material inducement to Lender’s entering hereinto, as follows:

	 	a)	 	No Further Funding Obligations. Lender has no obligations to make further Advances to
Borrower.
	 
	 	b)	 	No Waivers. Lender has made no separate oral or written waiver of any existing
or future Default or Event of Default by Borrower under any Loan
Document.
	 
	 	c)	 	No Set-Off. Borrower has no claims or rights of set-off against Lender of any
kind under any Loan Document or otherwise. Borrower has no defenses to payments of any amounts owed to Lender as
the same become due and payable.
	 
	 	d)	 	Representations and Warranties of Borrower. The representations and warranties contained in the Loan Agreement are true and complete in all material respects as of the date hereof, except with
respect to any such representation or warranty which speak only as of a specific date prior to the date
hereof. Borrower warrants and represents that no Events of Default have occurred. Borrower warrants and
represents that it has not reached any settlement with any other creditor of Borrower that has not been
disclosed in writing to Lender.

E.           Release. Borrower for itself and for its agents, partners, stockholders, employees and
affiliates and its or their successors and assigns hereby (a) agrees to waive, release and further
discharge Lender and its officers, directors, stockholders, partners, successors, assigns, agents
and employees of and from any and all manner of claims arising in connection with the Loan
Documents for damages at law or in equity with respect to any matter occurring prior to the date
hereof which Borrower or such other releasing party may have had, and (b) waives California Civil
Code Section 1542, which reads: “A general release does not extend to claims which the creditor
does not know or suspect to exist in his favor at the time of executing the release, which if
known by him must have materially affected his settlement with the debtor.” Each provision of this
release shall be severable from every other provision when determining its legal enforceability.

2.

 

Except as amended hereby, the Loan Documents remain unmodified and unchanged and ratified by
Borrower as though fully set forth herein. In the event of any contradiction between any term
of this Amendment with any other Loan Document, the terms under this Amendment shall control
Lender and Borrower have executed this Amendment as of the date first written above.

	 	 	 	 	 	 	 	 	 	 	 
	Borrower:	 	 	 	Lender:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Fluidigm Corporation	 	 	 	Lighthouse Capital Partners V, L.P.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	Lighthouse Management	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Partners
V, L.L.C., its general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Gajus Worthington
 

	 	 	 	By:
	 	/s/ Thomas Conneely
 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Name:

	 	Gajus Worthington
	 	 	 	Name:
	 	Thomas Conneely	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Title:

	 	CEO
	 	 	 	Title:
	 	Vice President	 	 

3.

 

AMENDMENT NO. 02 (“Amendment”)

TO LOAN AND SECURITY AGREEMENT NO. 4561

Entered
into as of November 16, 2006 by and between

Lighthouse Capital Partners V, L.P. (“Lender”) and Fluidigm Corporation (“Borrower”).

Without limiting or amending any other provisions of the Agreement, as amended, Lender and Borrower
agree to the following:

Section 1.1 of the Agreement, the definition of “Subordinated Indebtedness”, shall be amended and
restated to read as follows:

“Subordinated Indebtedness” means Indebtedness of Borrower to Singapore EDB (including its
investment fund BioMedical Sciences Investment Fund Ptd Ltd) and Invus Group that is
subordinated in both security and right of payment to the Obligations on terms and
conditions reasonably satisfactory to Lender in an amount not to exceed $13,000,000.

All capitalized terms not otherwise defined herein shall have the meanings given to such terms in
the Agreement.

	 	 	 	 	 	 	 	 	 	 	 
	Borrower:	 	 	 	Lender:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Fluidigm Corporation	 	 	 	Lighthouse Capital Partners V, L.P.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	Lighthouse Management	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Partners
V, L.L.C., its general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Rich Delateur
 

	 	 	 	By:
	 	/s/ Darren Haggerty
 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Name:

	 	Rich Delateur
	 	 	 	Name:
	 	Darren Haggerty	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Title:

	 	Chief Financial Officer
	 	 	 	Title:
	 	Director of Portfolio Analysis	 	 

1.

 

AMENDMENT NO. 03

Dated August 8, 2007

TO

that certain Loan and Security Agreement No. 4561

dated as of March 29, 2005, as amended (“Agreement”), by and between

Lighthouse Capital Partners V, L.P. (“Lender”) and

Fluidigm Corporation, a Delaware corporation (formerly a California corporation) (“Borrower”).

(All capitalized terms not otherwise defined herein shall have the meanings given to such terms in
the Agreement.)

Without limiting or amending any other provisions of the Loan Documents, Lender and Borrower
agree to the following:

Effective
March 29, 2007, Borrower’s state of incorporation has reincorporated from the State
of California to the State of Delaware.

Except as amended hereby, the Loan Documents remains unmodified and unchanged.

	 	 	 	 	 	 	 	 	 	 	 
	BORROWER:	 	 	 	LENDER:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Fluidigm Corporation	 	 	 	Lighthouse Capital Partners V, L.P.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	Lighthouse Management	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Partners V, L.L.C., its general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Gajus Worthington
 

	 	 	 	By:
	 	/s/ Tom Conneely
 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Name:

	 	Gajus Worthington
	 	 	 	Name:
	 	Tom Conneely	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Title:

	 	President & CEO
	 	 	 	Title:	 	 Vice President	 	 

 

 

ORIGINAL

AMENDMENT NO. 04

Dated February 15, 2008

TO

that certain Loan and Security Agreement No. 4561

dated as of March 29, 2005, as amended (“Agreement”), by and between

Lighthouse Capital Partners
V, L.P. (“Lender”) and

Fluidigm
Corporation (“Borrower”).

     this Amendment No. 04 (“Amendment 04”) to that certain Loan and Security Agreement
No. 4561 dated March 29, 2005 (as amended to date, the “Agreement) is entered into as of February
15, 2008, by and between
Lighthouse Capital Partners V, L.P. (“Lender”) and Fluidigm
Corporation, a Delaware corporation
(“Borrower”).

     WHEREAS, Borrower and Lender have previously entered into and amended the Agreement; and

     WHEREAS, Borrower has requested Lender provide an additional term loan financing, which
Lender has agreed to provide subject to the terms of this Amendment 04.

     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained,
the parties hereby agree to modify the Agreement and to perform such other covenants and conditions
as follows:

(All capitalized terms not otherwise defined herein shall have the meanings given to such terms in
the Agreement.)

I. Section 1.1, the following definitions shall be added to the Agreement:

“Change
of Management or Board Composition ” means that (i) Borrower’s senior management shall not
include Gajus Worthington; (ii) Versant Ventures or any of its affiliated funds shall cease to
have a representative (currently Samuel Colella) serving on Borrower’s Board of Directors; or
(iii) Alloy Ventures or any of its affiliated funds shall cease to have a representative
(currently Mike Hunkapiller) serving on Borrower’s Board of Directors.

“Commitment One” means the Commitment as that term is used in the Agreement prior to the
effect of this Amendment 04.

“Commitment Two” means $10,000,000.

“Commitment Two Warrant” mean the Warrant in favor of Lender to purchase securities of Borrower,
substantially in the form of Exhibit C-2 attached to this Amendment 04 and issued in conjunction
with Commitment Two.

II. Section 1.1, the following definitions of the Agreement shall be deleted in its entirety and
replaced with the following:

“Basic Rate” (i) under Commitment One, as defined in the Notes, as amended pursuant to Amendment
No. 01, and (ii) under Commitment Two, as defined in the Notes for Advances under Commitment Two.

“Commitment” means Commitment One and Commitment Two.

“Commitment Fee” means $10,000 under Commitment One and $10,000 under Commitment Two.

“Commitment Termination Date” has occurred for Commitment One, and for Commitment Two it means the
earliest to occur of (i) July 1, 2008; (ii) any Default or Event of Default, or (iii) Change of
Management or Board Composition (unless Lender has waived this condition in writing).

“Disclosure Schedule” means the Disclosure Schedule delivered to Lender in connection with the
execution and delivery of Amendment No. 04 to this Agreement.

“Loan Commencement Date” means (i) for Advances under Commitment One, as defined in the Notes, as
amended pursuant to Amendment No. 01, and (ii) for Advances under Commitment Two, as defined in
the Notes for Advances under Commitment Two.

1

 

“Note” means (i) in connection with Advances under Commitment One, Secured Promissory Notes in the
form of Exhibit B, and (ii) in connection with Advances under Commitment Two, Secured Promissory
Notes in the form of Exhibits B-2 to Amendment 04.

“Notice of Borrowing” means (i) in connection with Advances under Commitment One, the form
attached as Exhibit D, and (ii) in connection with Advances under Commitment Two in the form of
Exhibit D-2 attached to Amendment 04.

“Warrant” means (i) all Warrants issued by Borrower to Lender prior to the date of Amendment 04,
and (ii) the Commitment Two Warrant.

III. Section 6.2 — Section 6.2 of the Agreement shall be amended deleted in its entirety and
replaced with the following:

6.2
Financial Statements, Reports, Certificates. Borrower shall deliver to Lender: (i) as soon as
prepared, and no later than 30 days after the end of each calendar quarter, a balance sheet,
income statement and cash flow statement covering Borrower’s operations for each of the three
months during such period, provided for each calendar month ending after the calendar quarter
ending on September 30, 2008, Borrower shall deliver to Lender as soon as prepared, and no later
than 30 days after the end of each calendar month, a balance sheet, income statement and cash flow
statement covering Borrower’s operations during such period; (ii) as soon as prepared, but no
later than 90 days after the end of the fiscal year, or such other timeframe formally approved by
Borrower’s audit committee, audited financial statements prepared in accordance with GAAP,
together with an opinion that such financial statements fairly present Borrower’s financial
condition by an independent public accounting firm reasonably acceptable to Lender; (iii)
immediately upon notice thereof, a report of any legal or administrative action pending or
threatened in writing against Borrower which is likely to result in liability to Borrower in
excess of $100,000 (provided that Borrower shall not be required to report notices of possibly
relevant third party patents, or proposals or demands to license intellectual property); and (iv)
such other financial information as Lender may reasonably request from time to time. Financial
statements delivered pursuant to subsections (i) and (ii) above shall be accompanied by a
certificate signed by a Responsible Officer (each an “Officer’s Certificate”) in the form of
Exhibit F.

IV. Section 3 — Conditions of Advances; Procedure for requesting Advances; the following new
Sections 3.2 and 3.3 shall be added:

3.2 Procedure for Making Advances. For any Advance, Borrower shall provide Lender an irrevocable
Notice of Borrowing at least 15 business days prior to the desired Funding Date and Lender shall
only be required to make Advances hereunder based upon written requests which comply with the
terms and exhibits of this Loan Agreement (as the same may be amended from time to time), and
which are submitted and signed by a Responsible Officer. Borrower shall execute and deliver to
Lender a Note and such other documents and instruments as Lender may reasonably require for each
Advance made.

3.3. Conditions Precedent to Initial Advance under Commitment Two. The obligation of Lender to
make the Initial Advance under Commitment Two is subject the satisfaction of each of the following
conditions:

               (a) This Amendment 04 duly executed by Borrower.

               (b) The Commitment Two Warrant to be issued to Lender duly executed by
Borrower.

               (c) Delivery to Ledner of an officer’s certificate of Borrower with copies of
the following documents
attached: (i) the certificate of incorporation and by-laws or other organizational documents of
Borrower certified by Borrower as being in full force and effect as of the date of Amendment 04,
(ii) incumbency and representative signatures, and (iii) resolutions authorizing the execution and
delivery of Amendment 04 and each of the other Loan Documents.

               (d) Delivery to Lender of a good standing certificate from Borrower’s state of
incorporation or formation
and the state in which Borrower’s principal place of business is located, together with
certificates of the applicable governmental authorities stating that Borrower is in compliance with
the franchise tax laws of each such state, each dated as of a recent date.

               (e) Borrower has obtained all necessary consents of shareholders, members, and
other third parties with
respect to the execution, delivery and performance of the Agreement, Amendment 04, the Commitment
Two Warrant, and the other Loan Documents.

               (f) Borrower shall have satisfied all the conditions set forth in Section 3.1
and 3.2 of the Agreement.

3.4 Reaffirmation Subject to the Disclosure Schedule attached hereto as Schedule 1, Borrower
reaffirms the representations and warranties made to Lender in the Agreement as of the date hereof
as though fully set forth herein.

2

 

3.5 Existing Notes Notes for Advances under Commitment Two are not affected by
Amendment No. 01 and Notes for Advances under Commitment One remain subject to Amendment No.
01

V. Further Terms and Conditions of this Amendment 04.

	 	1.	 	Representations and Warranties of Borrower. Borrower warrants and
represents, as a significant material inducement to
Lender to enter hereinto, that: (i) no Events of Default have occurred and are
continuing that have not been disclosed to
Lender by Borrower in writing; (ii) it is not and has no reason to believe it may be
named as a party to any judicial or administrative proceeding, litigation or
arbitration, and has not received any written communication from any person or entity
(whether
private or governmental) threatening or indicating the same, except
to the extent that
any such written communication could not
reasonably be expected to result in a material adverse effect on Borrower’s business;
and (iii) it is in full compliance with Section
7.10 of the Loan and Security Agreement.
	 
	 	2.	 	No Control. Borrower warrants and represents, as a significant material
inducement to Lender to enter hereinto, that none of
Lender nor any affiliate, officer, director, employee, agent, or attorney of Lender,
have at any time, from Borrower’s date of
formation through to the date hereof, (i) exercised management or other control over the
Borrower, (ii) exercised undue influence
over Borrower or any of its officers, employees or directors, (iii) made any
representation or warranty, express or implied, to any
party on behalf of Borrower, (iv) entered into any joint venture, agency relationship,
employment relationship, or partnership with
Borrower, (v) directed or instructed Borrower on the manner, method, amount, or identity
of payee of any payment made to any
creditor of Borrower, and further, Borrower warrants and represents that by entering
hereinto with Lender has not, are not and will
not have engaged in any of the foregoing.
	 
	 	3.	 	Integration Clause. This Agreement represents and documents the entirety
of the agreement and understanding of the parties
hereto with respect to its subject matter. All prior understandings, whether oral or
written, other than the Loan Documents,
are hereby merged hereinto. NEITHER THE LOAN AND SECURITY AGREEMENT NOR THIS AGREEMENT
MAY BE MODIFIED EXCEPT BY A WRITING SIGNED BY LENDER AND BORROWER. Each provision hereof
shall be severable from every other provision when determining its legal enforceability
such that Lender’s rights and
remedies under this Agreement and the Loan Documents may be enforced to the maximum
extent permitted under applicable
law. This Agreement shall be binding upon, and inure to the benefit of, each party’s
respective permitted successors and
assigns. This Agreement may be executed in counterpart originals, all of which, when
taken together, shall constitute one
and the same original document. No provision of any other document between Lender and
Borrower shall limit the
effectiveness hereof or the rights and remedies of Lender against Borrower. In the
event of any contradiction or
inconsistency among the terms and conditions of this Agreement or any Loan Document, the
interpretation most favorable to
the interests of Lender shall prevail.

Except as amended hereby, the Agreement remains unmodified and unchanged.

	 	 	 	 	 	 	 	 	 	 	 
	BORROWER:	 	 	 	LENDER:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	FLUIDIGM CORPORATION	 	 	 	LIGHTHOUSE CAPITAL PARTNERS V, L.P.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Gajus Worthington
 

	 	 
	 	By:
	 	LIGHTHOUSE MANAGEMENT PARTNERS V, L.L.C.,
	Name:

	 	Gajus Worthington	 	 	 	 	 	its general partner 	 	 
	Title:
	 	President and CEO	 	 	 	 	 	 	 	 
	 

	 	 
	 	 	 	By:
	 	/s/ Thomas Conneely
 

	 	 
	 

	 	 	 	 	 	Name:
	 	Thomas Conneely	 	 
	 

	 	 	 	 	 	Title:
	 	Vice President	 	 

3

 

Exhibit B-2 

(Commitment Two)

[                    ]

Secured Promissory Note

This
Secured Promissory
Note (this “Note”) is
made                               , 2008, by Fluidigm Corporation
(“Borrower”) in favor of Lighthouse Capital Partners V, L.P. (collectively with its assigns, “Lender”). Initially
capitalized terms used and not otherwise defined herein are defined in that certain Loan and
Security Agreement No. 4561 between Borrower and Lender dated
March 29, 2005, as amended (the “Loan
Agreement”).

For
Value Received, Borrower promises to pay in lawful money of the United States, to the
order of Lender, at 500 Drake’s Landing Road, Greenbrae, California 94904, or such other place as
Lender may from time to time designate (“Lender’s Office”), the principal
sum of
$                             
(the “Advance”), including interest on the unpaid balance and all other amounts due or to
become due hereunder according to the terms hereof and of the Loan Agreement.

“Basic Rate” means a fixed per annum rate of interest equal 8.5%.

“Final Payment” means 6.5% of the Advance.

“Loan Commencement Date” means January 1,2009.

“Maturity Date” means the last day of the Repayment Period, or if earlier, the date of prepayment
under the Note.

“Payment Date” means the first day of each calendar month.

“Prepayment Fee” means (i) if prepaid in the calendar years 2008 or 2009, 3% of the outstanding
principal amount being prepaid; (ii) if prepaid in the calendar year 2010, 2% of the outstanding
principal amount being prepaid; and (iii) if prepaid in the calendar year 2011 or thereafter, 1%
of the outstanding principal amount being prepaid.

“Repayment Period” means the period beginning on the Loan Commencement Date and continuing for 30
calendar months.

1. Repayment. Borrower shall pay principal and interest due hereunder from the Funding Date, until
this Note is paid in full,
on each Payment Date pursuant to the terms of the Loan Agreement and this Note. Borrower shall
pay to Lender, monthly in
advance on each Payment Date, interest calculated using the Basic Rate. Beginning on the Loan
Commencement Date and on each
Payment Date thereafter during the Repayment Period, Borrower shall make equal installments of
principal and interest in advance,
calculated at the Basic Rate. On the Maturity Date, Borrower shall pay, in addition to all unpaid
principal and interest outstanding
hereunder, the Final Payment.

2.
Interest. Interest not paid when due will, to the maximum extent permitted under applicable law,
become part of principal,
at Lender’s option, and thereafter bear like interest as principal. Interest shall be computed on
the basis of a 360 day year. All
Obligations not paid when due shall bear interest at the Default Rate unless waived in writing by
Lender. All amounts paid hereunder
will be applied to the Obligations in Lender’s discretion and as provided in the Loan Agreement.

3. Voluntary Prepayment. Borrower may prepay the Note if and only if Borrower pays to Lender (i)
the outstanding principal
amount of this Note and any unpaid accrued interest (ii) the Final Payment, (iv) the Prepayment
Fee, and (v) all other sums, if any, that
shall have become due and payable hereunder with respect to this Note.

4. Collateral. This Note is secured by the Collateral.

5. Waivers. Borrower, and all guarantors and endorsers of this Note, regardless of the time, order
or place of signing, hereby
waive notice, demand, presentment, protest, and notices of every kind, presentment for the purpose
of accelerating maturity, diligence
in collection to the fullest extent permitted by law.

6. Choice of Law; Venue. This Note shall be governed by, and construed in accordance with the
internal
laws of the State of California, without regard to principles of conflicts of law. Each of
Borrower and
Lender hereby submits to the exclusive jurisdiction of the State and Federal courts located in
the City and

1

 

County of San Francisco, State of California. Borrower and Lender each hereby waive their
respective rights to a jury trial of any claim or cause of action based upon or arising out of this
Note. Each party further waives any right to consolidate any action in which a jury trial has been
waived with any other action in which a jury trial cannot be or has not been waived.

7. Miscellaneous. This Note may be modified only by a writing signed by Borrower and
Lender. Each provision
hereof is severable from every other provision hereof and of the Loan Agreement when determining
its legal enforceability. Sections and subsections are titled for convenience, and not for
construction. “Hereof,” “herein,” “hereunder,” and similar words refer to this Note in its
entirety. “Or” is not necessarily exclusive. “Including” is not limiting. The terms and conditions
hereof inure to the benefit of and are binding upon the parties’ respective permitted successors
and assigns. This Note is subject to all the terms and conditions of the Loan Agreement.

In Witness Whereof, Borrower has caused this Note to be executed by a duly authorized
officer as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

2

 

Exhibit d

Notice of Borrowing

                    , ________

Lighthouse
Capital Partners V, L.P.

500 Drake’s Landing Road

Greenbrae, CA 94904-3011

Ladies and Gentlemen:

     Reference
is made to the Loan and Security Agreement No. 4561 dated as of March 29, 2005 (as
it has been and may be amended from time to time, the “Loan Agreement,” initially capitalized
terms used herein as defined therein), between Lighthouse Capital Partners V, L.P. and
Fluidigm Corporation (the “Company”)

     The undersigned is the President and CEO of the Company, and hereby irrevocably requests an
Advance under the Loan Agreement, and in that connection certifies as follows:

     1. The amount of the proposed Advance is $                    . The business day of the proposed Advance is                     .

     2. The
Loan Commencement Date for this Advance shall be March 1, 2006.

     3. As of this date, no Event of Default, or event which with notice or the passage of time
would constitute an Event of Default, has occurred and is continuing, or will result from the
making of the proposed Advance, and the representations and warranties of the Company contained in
Section 5 of the Loan Agreement are true and correct in all material respects.

     4. No event that could reasonably be expected to have a material adverse effect on the
ability of Borrower to fulfill its obligations under the Loan Agreement has occurred since the
date of the most recent financial statements, submitted to you by the Company.

     The Company agrees to notify you promptly before the funding of the Advance if any of the
matters to which I have certified above shall not be true and correct
on the Funding Date.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

1

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