Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

This Amended and Restated Investors’ Rights Agreement (this “Agreement”) is made as of August 16, 2018, by
and among Principia Biopharma Inc., a Delaware corporation (the “Company”), and the persons and entities (each, an “Investor” and collectively, the “Investors”) listed on
Exhibit A hereto. 
 RECITALS 

WHEREAS, certain of the Investors (the “Prior Investors”) are holders of outstanding shares of the
Company’s Series A Preferred Stock (the “Series A Preferred Stock”), the Company’s Series B-1 Preferred Stock (the “Series
B-1 Preferred Stock”), the Company’s Series B-2 Preferred Stock (the “Series B-2 Preferred
Stock”) and the Company’s Series B-3 Preferred Stock (the “Series B-3 Preferred Stock” and together with the Series A Preferred
Stock, the Series B-1 Preferred Stock and the Series B-2 Preferred Stock, the “Existing Preferred Stock”), and the Prior Investors have also been
granted certain information and registration rights and rights of first refusal under that certain Amended and Restated Investors’ Rights Agreement by and among the Company and the Prior Investors, dated July 16, 2015 (the
“Prior Agreement”); 
 WHEREAS, certain Investors (the “Series C Investors”) have
agreed to purchase shares of the Company’s Series C Preferred Stock (as defined below) pursuant to that certain Series C Preferred Stock Purchase Agreement dated of even date herewith by and among the Company and certain of the Investors (the
“Purchase Agreement”); 
 WHEREAS, the Company, the undersigned Prior Investors and the Series C Investors
desire to enter into this Agreement in order to amend, restate and replace, with respect to the Prior Investors, and establish, with respect to the Series C Investors, their rights and obligations under the Prior Agreement with the rights and
obligations set forth in this Agreement; and 
 WHEREAS, the Company and Preferred Majority (as defined below) desire to terminate
the Prior Agreement in its entirety and to accept the rights created pursuant to this Agreement in lieu of the rights granted to them under the Prior Agreement. 

NOW, THEREFORE: In consideration of the mutual promises and covenants set forth herein, and other consideration, the receipt and
adequacy of which is hereby acknowledged, the parties hereto agree as follows: 
 1. Definitions. As used in this Agreement, the
following terms shall have the meanings set forth below: 
 (a) “Affiliate” shall have the same meaning as set
forth in Section 501 of Regulation D of the Securities Act. 
 (b) “Board” shall mean the Company’s
Board of Directors. 
 (c) “Commission” shall mean the Securities and Exchange Commission or any other federal
agency at the time administering the Securities Act. 
 (d) “Common Stock” means the Common Stock of the
Company. 

  
 1. 

 (e) “Exchange Act” shall mean the Securities Exchange Act of 1934,
as amended, or any similar successor federal statute and the rules and regulations thereunder, all as the same shall be in effect from time to time. 

(f) “Holder” shall mean any Investor who holds Registrable Securities and any other holder of Registrable
Securities to whom the registration rights conferred by this Agreement have been duly and validly transferred in accordance with Section 2.12 of this Agreement. 

(g) “Indemnified Party” shall have the meaning set forth in Section 2.6(c) hereto. 

(h) “Indemnifying Party” shall have the meaning set forth in Section 2.6(c) hereto. 

(i) “Initial Public Offering” shall mean the closing of the Company’s first bona fide, firm commitment
underwritten public offering of the Company’s Common Stock registered under the Securities Act. 
 (j) “Initiating
Holders” shall mean any Holder or Holders who in the aggregate hold not less than thirty percent (30%) of the outstanding Registrable Securities. 

(k) “Key Employee” shall mean any executive-level employee (including, division director and vice
president-level positions) as well as any employee who, either alone or in concert with others, develops, invents, programs, or designs any Proprietary Rights (as defined in the Purchase Agreement) of the Company. 

(l) “Liquidation Event” shall have the meaning set forth in the Restated Certificate. 

(m) “Major Investor” shall mean any Investor who, together with its Affiliates, holds at least 4,000,000 shares
(subject to subsequent adjustments for stock splits, stock dividends, reverse stock splits, and the like) shares of Common Stock issued or issuable upon conversion of Preferred Stock. 

(n) “New Securities” shall have the meaning set forth in Section 4.1(a) hereto. 

(o) “Other Selling Stockholders” shall mean persons other than Holders who, by virtue of agreements with the
Company, are entitled to include their Other Shares in certain registrations hereunder. 
 (p) “Other Shares”
shall mean shares of Common Stock, other than Registrable Securities (as defined below), (including shares of Common Stock issuable upon conversion of shares of any currently unissued series of Preferred Stock of the Company) with respect to which
registration rights have been granted. 
 (q) “Preferred Director” shall have the meaning set forth in the
Amended and Restated Voting Agreement of even date herewith, by and among the Company and the signatories thereto. 
 (r)
“Preferred Majority” means any five of Sofinnova, Baker, New Leaf, OrbiMed, Morgenthaler, SR One, Cormorant and HBM (each a “Preferred Majority Holder”). Notwithstanding the foregoing, in the event
that a majority of the shares of Preferred Stock that were originally issued to Sofinnova, Baker, New Leaf, OrbiMed, Morgenthaler, SR One, Cormorant or HBM, as applicable, are no longer held by Sofinnova, Baker, New Leaf, OrbiMed, Morgenthaler, SR
One, Cormorant or HBM or its respective Affiliates (in accordance with Section 2.8(b) of this Agreement), as applicable, then Sofinnova, Baker, New Leaf, OrbiMed, Morgenthaler, SR One, Cormorant or HBM, as applicable, shall no longer be

  
 2. 

 
a “Preferred Majority Holder” for any purpose and the “Preferred Majority” shall mean all remaining Preferred Majority Holders less one; provided that if there are seven
remaining Preferred Majority Holders, then the Preferred Majority must include only five of such Preferred Majority Holders, if there are six remaining Preferred Majority Holders, then the Preferred Majority must include only four of such Preferred
Majority Holders, if there are only two remaining Preferred Majority Holders, then the Preferred Majority must include both Preferred Majority Holders, and if there is only one remaining Preferred Majority Holder, then the Preferred Majority must
include such Preferred Majority Holder. “Sofinnova” means Sofinnova Venture Partners VIII, L.P. and its Affiliates. “Baker” means 667, L.P., Baker Brothers Life Sciences, L.P. or 14159, L.P. and their
Affiliates. “New Leaf” means New Leaf Ventures II L.P., New Leaf Biopharma Opportunities II, L.P. and their Affiliates. “OrbiMed” means OrbiMed Private Investments IV, LP. and its Affiliates.
“Morgenthaler” means Morgenthaler Venture Partners IX, L.P. and its Affiliates. “SR One” means SR One Ltd. and its Affiliates. “Cormorant” means Cormorant Private Healthcare
Fund I, LP, Cormorant Private Healthcare Fund II, LP and Cormorant Global Healthcare Master Fund, LP and their Affiliates. “HBM” means HBM Healthcare Investments (Cayman) Ltd. and its Affiliates. 

(s) “Preferred Stock” means, collectively, the Series A Preferred Stock, Series
B-1 Preferred Stock, Series B-2 Preferred Stock, Series B-3 Preferred Stock and Series C Preferred Stock. 

(t) “Purchase Agreement” shall have the meaning set forth in the Recitals hereto. 

(u) “Qualified Public Offering” shall mean the meaning set forth in the Company’s Restated Certificate.

 (v) “Registrable Securities” shall mean (i) shares of Common Stock issued or issuable pursuant to the
conversion of the Shares, (ii) any Equity Securities (as defined in the Amended and Restated First Refusal and Co-Sale Agreement, dated as of even date herewith, by and among the Company and other parties
thereto (the “Co-Sale Agreement”)) held by a Holder, and (iii) any Common Stock issued as a dividend or other distribution with respect to or in exchange for or in replacement of
the shares referenced in (i) or (ii) above; provided, however, that Registrable Securities shall not include any shares of Common Stock described in clauses (i), (ii) or (iii) above which have been sold to the public either
pursuant to a registration statement or Rule 144, or which have been sold in a private transaction in which the transferor’s rights under this Agreement are not validly assigned in accordance with this Agreement; provided,
further, however, that Registrable Securities shall not include any shares of Common Stock described in clauses (i), (ii) or (iii) above as to which rights have terminated pursuant to Section 2.14 hereto. 

(w) The terms “register,” “registered” and “registration” shall
refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act and applicable rules and regulations thereunder, and the declaration or ordering of the effectiveness of such registration
statement. 
 (x) “Registration Expenses” shall mean all expenses incurred in effecting any registration
pursuant to this Agreement, including, without limitation, all registration, qualification, and filing fees, printing expenses, escrow fees, fees and disbursements of counsel for the Company and one special counsel for the selling Holders (not to
exceed $50,000), blue sky fees and expenses, and expenses of any regular or special audits incident to or required by any such registration, but shall not include Selling Expenses, fees and disbursements of other counsel for the Holders and the
compensation of regular employees of the Company, which shall be paid in any event by the Company. 
 (y) “Restated
Certificate” shall mean the Company’s Restated Certificate of Incorporation (as may be amended or restated from time to time). 

  
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 (z) “Restricted Securities” shall mean any Registrable Securities
required to bear the first legend set forth in Section 2.8(c) hereof. 
 (aa) “Rule 144” shall mean Rule
144 as promulgated by the Commission under the Securities Act, as such Rule may be amended from time to time, or any similar successor rule that may be promulgated by the Commission. 

(bb) “Rule 145” shall mean Rule 145 as promulgated by the Commission under the Securities Act, as such Rule may
be amended from time to time, or any similar successor rule that may be promulgated by the Commission 
 (cc) “Rule
415” shall mean Rule 415 as promulgated by the Commission under the Securities Act, as such Rule may be amended from time to time, or any similar successor rule that may be promulgated by the Commission. 

(dd) “Securities Act” shall mean the Securities Act of 1933, as amended, or any similar successor federal
statute and the rules and regulations thereunder, all as the same shall be in effect from time to time. 
 (ee) “Selling
Expenses” shall mean all underwriting discounts, selling commissions and stock transfer taxes applicable to the sale of Registrable Securities and fees and disbursements of counsel for any Holder (other than the fees and disbursements
of one special counsel to the Holders included in Registration Expenses). 
 (ff) “Series C Preferred Stock”
shall mean the shares of the Company’s Series C Preferred Stock issued pursuant to the Purchase Agreement. 
 (gg)
“Shares” shall mean the Series A Preferred Stock, Series B-1 Preferred Stock, Series B-2 Preferred Stock, Series B-3 Preferred Stock and Series C Preferred Stock. 
 (hh) “Withdrawn
Registration” shall mean a forfeited demand registration under Section 2.1 in accordance with the terms and conditions of Section 2.4. 

2. Registration Rights. 
 2.1
Requested Registration. 
 (a) Registration. Subject to the conditions set forth in this
Section 2.1, if the Company shall receive from Initiating Holders a written request signed by such Initiating Holders that the Company effect any registration with respect to all or a part of the Registrable Securities (such request shall state
the number of shares of Registrable Securities to be disposed of by such Initiating Holders), the Company will: 
 (i) promptly give written
notice of the proposed registration to all other Holders; and 
 (ii) as soon as practicable, but in any event within ninety (90) days
after the Company’s receipt of such written request, file a registration statement under the Securities Act covering all Registrable Securities that the Initiating Holders requested to be registered and use its commercially reasonable efforts
to effect such registration (including, without limitation, filing post-effective amendments, appropriate qualifications under applicable blue sky or other state securities laws, and 

  
 4. 

 
appropriate compliance with the Securities Act) and to 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 thirty (30) days after such written notice from the Company is
mailed or delivered. 
 (b) Limitations on Requested Registration. The Company shall not be obligated to effect, or to
take any action to effect, any such registration pursuant to this Section 2.1: 
 (i) prior to the earlier of (A) the three
(3) year anniversary of the date of this Agreement or (B) six (6) months following the effective date of the first registration statement filed by the Company covering an underwritten offering of any of its securities to the general public
(or the subsequent date on which all market stand-off agreements applicable to the offering have terminated, not to exceed an additional thirty-four (34) days); 

(ii) if the Company has not yet offered securities pursuant to a registration statement and the Initiating Holders propose to sell less than
20% of the Registrable Securities held by such Initiating Holders unless such lesser number of Registrable Securities proposed to be sold by the Initiating Holders is expected to result in aggregate net proceeds (after deduction for
underwriter’s discounts and expenses related to the issuance) greater than $10,000,000; 
 (iii) in any particular jurisdiction in
which the Company would be required to execute a general consent to service of process in effecting such registration, qualification, or compliance, unless the Company is already subject to service in such jurisdiction and except as may be required
by the Securities Act; 
 (iv) after the Company has initiated two (2) such registrations pursuant to this Section 2.1 (counting
for these purposes only (x) registrations which have been declared or ordered effective and pursuant to which securities have been sold, and (y) Withdrawn Registrations); 

(v) during the period that is thirty (30) days prior to the Company’s good faith estimate of the date of filing of, and ending on a
date ninety (90) days (one hundred eighty (180) days in the case of an Initial Public Offering) after the effective date of a Company-initiated registration (or ending on the subsequent date on which all market stand-off agreements applicable to the offering have terminated; provided that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become
effective; 
 (vi) if the Initiating Holders do not request that such offering be firmly underwritten by underwriters selected by a majority-in-interest of the Initiating Holders (subject to the consent of the Company, which consent shall not be unreasonably withheld, delayed or conditioned); or 

(vii) if the Company and the Initiating Holders are unable to obtain the commitment of the underwriter described in clause (b)(vii) above to
firmly underwrite the offer. 
 (c) Deferral. If (i) in the good faith judgment of the Board of the Company, the
filing of a registration statement covering the Registrable Securities would be materially detrimental to the Company and the Board of the Company concludes, as a result, that it is in the best interests of the Company to defer the filing of such
registration statement at such time, and (ii) 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 the Company, it would be materially detrimental
to the Company for such registration statement to be filed in the near future and that it is, therefore, in the best interests of the Company to defer the filing 

  
 5. 

 
of such registration statement, then (in addition to the limitations set forth in Section 2.1(b)(v) above) the Company shall have the right to defer such filing for a period of not more than
ninety (90) days after receipt of the request of the Initiating Holders, and, provided further, that the Company shall not defer its obligation in this manner more than two (2) times in any twelve-month period. 

(d) Other Shares. The registration statement filed pursuant to the request of the Initiating Holders may, subject to the
provisions of Section 2.1(e), include Other Shares, and may include securities of the Company being sold for the account of the Company. 

(e) 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 pursuant to this Section 2.1 and the Company shall include such information in the written notice given pursuant to Section 2.1(a)(i). In such event,
the right of any Holder to include all or any portion of its Registrable Securities in a registration pursuant to this Section 2.1 shall be conditioned upon such Holder’s participation in a underwriting. In such case, if the Company shall
request inclusion in any registration pursuant to Section 2.1 of securities being sold for its own account, or if other persons shall request inclusion in any registration pursuant to Section 2.1, the Initiating Holders shall, on behalf of
all Holders, offer to include such securities in the underwriting and such offer shall be conditioned upon the participation of the Company or such other persons in such underwriting and the inclusion of the Company’s and such person’s
other securities of the Company and their acceptance of the further applicable provisions of this Section 2 (including Section 2.10). The Company shall (together with all Holders and other persons proposing to distribute their securities
through such underwriting) enter into an underwriting agreement in customary form with the representative of the underwriter or underwriters selected for such underwriting by a
majority-in-interest of the Initiating Holders, which underwriters are reasonably acceptable to the Company. 

Notwithstanding any other provision of this Section 2.1, if the underwriters advise the Initiating Holders in writing that marketing
factors require a limitation on the number of shares to be underwritten, the number of Registrable Securities and Other Shares that may be so included shall be allocated as follows: (i) first, among all Holders requesting to include Registrable
Securities in such registration statement based on the pro rata percentage of Registrable Securities held by such Holders, assuming conversion; and (ii) second, among all Other Selling Stockholders requesting to include Other Shares in such
registration statement based on the pro rata percentage of Other Shares held by such Other Selling Stockholders, assuming conversion; and (iii) third, to the Company, which the Company may allocate, at its discretion, for its own account, or
for the account of other holders or employees of the Company. If a person who has requested inclusion in such registration as provided above does not agree to the terms of any such underwriting, such person shall be excluded therefrom by written
notice from the Company, the underwriter or the Initiating Holders. The securities so excluded shall also be withdrawn from registration. Any Registrable Securities or other securities excluded or withdrawn from such underwriting shall also be
withdrawn from such registration. If shares are so withdrawn from the registration and if the number of shares to be included in such registration was previously reduced as a result of marketing factors pursuant to this Section 2.1(e), then the
Company shall then offer to all Holders and Other Selling Stockholders who have retained rights to include securities in the registration the right to include additional Registrable Securities or Other Shares in the registration in an aggregate
amount equal to the number of shares so withdrawn, with such shares to be allocated among such Holders and Other Selling Stockholders requesting additional inclusion, as set forth above. 

2.2 Company Registration. 

(a) Registration. If the Company shall determine to register any of its securities either for its own account or the
account of a security holder or holders, other than a registration pursuant to Section 2.1 or 2.3, a registration relating solely to employee benefit plans or a registration relating to a corporate reorganization or other Rule 145 transaction,
the Company will: 

  
 6. 

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

(ii) use its commercially reasonable efforts to include in such registration (and any related qualification under blue sky laws or other
compliance), except as set forth in Section 2.2(b) below, and in any underwriting involved therein, all of such Registrable Securities as are specified in a written request or requests made by any Holder or Holders received by the Company
within ten (10) days after such written notice from the Company is mailed or delivered. Such written request may specify all or a part of a Holder’s Registrable Securities. 

(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 as a part of the written notice given pursuant to Section 2.2(a)(i). In such event, the right of any Holder to registration pursuant to this Section 2.2 shall be conditioned upon such
Holder’s participation in such underwriting and the inclusion of such Holder’s 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, the Other Selling Stockholders and other holders of securities of the Company with registration rights to participate therein distributing their securities through such underwriting) enter into an underwriting agreement
in customary form with the representative of the underwriter or underwriters selected by the Company. 
 Notwithstanding any other provision
of this Section 2.2, if the underwriters advise the Company in writing that marketing factors require a limitation on the number of shares to be underwritten, the underwriters may (subject to the limitations set forth below) limit the number of
Registrable Securities to be included in the registration and underwriting. The Company shall so advise all holders of securities requesting registration, and the number of shares of securities that are entitled to be included in the registration
and underwriting shall be allocated, as follows: (i) first, to the Company for securities being sold for its own account, (ii) second, to the Holders requesting to include Registrable Securities in such registration statement based on the
pro rata percentage of Registrable Securities held by such Holders and requested to be included in such registration, assuming conversion; and (iii) third, to the Other Selling Stockholders requesting to include Other Shares in such
registration statement based on the pro rata percentage of Other Shares held by such Other Selling Stockholders, assuming conversion. Notwithstanding the foregoing, no such reduction shall reduce the value of the Registrable Securities of the
Holders included in such registration below twenty-five percent (25%) of the total value of securities included in such registration, unless such offering is an Initial Public Offering and such registration does not include shares of any Other
Selling Stockholders (excluding shares registered for the account of the Company), in which event any or all of the Registrable Securities of the Holders may be excluded. 

If a person who has requested inclusion in such registration as provided above does not agree to the terms of any such underwriting, such
person shall also be excluded therefrom by written notice from the Company or the underwriter. The Registrable Securities or other securities so excluded shall also be withdrawn from such registration. Any Registrable Securities or other securities
excluded or withdrawn from such underwriting shall be withdrawn from such registration. 
 (c) Right to Terminate
Registration. The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2.2 prior to the effectiveness of such registration whether or not any Holder has elected to include securities
in such registration. 

  
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	 	2.3	 Registration on Form S-3. 

(a) Request for Form S-3 Registration. After its Initial Public Offering, the
Company shall use its commercially reasonable efforts to qualify for registration on Form S-3 or any comparable or successor form or forms. After the Company has qualified for the use of Form S-3, in addition to the rights contained in the foregoing provisions of this Section 2 and subject to the conditions set forth in this Section 2.3, if the Company shall receive from a Holder or Holders of
Registrable Securities a written request that the Company effect any registration on Form S-3 or any similar short form registration statement with respect to all or part of the Registrable Securities (such
request shall state the number of shares of Registrable Securities to be disposed of and the intended methods of disposition of such shares by such Holder or Holders), the Company will take all such action with respect to such Registrable Securities
as required by Section 2.1(a)(i)and (ii). 
 (b) Limitations on Form S-3
Registration. The Company shall not be obligated to effect, or take any action to effect, any such registration pursuant to this Section 2.3: 

(i) In the circumstances described in either Sections 2.1(b)(i), 2.1(b)(iii) or 2.1(b)(v); 

(ii) If the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to
sell Registrable Securities and such other securities (if any) on Form S-3 at an aggregate price to the public of less than $1,000,000 (net of underwriting discounts and commissions); or 

(iii) If, in a given twelve-month period, the Company has effected two (2) such registrations in such period. 

(c) Deferral. The provisions of Section 2.1(c) shall apply to any registration pursuant to this Section 2.3(c).

 (d) Underwriting. If the Holders of Registrable Securities requesting registration under this Section 2.3 intend
to distribute the Registrable Securities covered by their request by means of an underwriting, the provisions of Section 2.1(e) shall apply to such registration. Notwithstanding anything contained herein to the contrary, registrations effected
pursuant to this Section 2.3 shall not be counted as requests for registration or registrations effected pursuant to Section 2.1. 

2.4 Expenses of Registration. All Registration Expenses incurred in connection with registrations pursuant to Sections
2.1, 2.2 and 2.3 hereof shall be borne by the Company; provided, however, that the Company shall not be required to pay for any Registration Expenses of any registration proceeding begun pursuant to Sections 2.1 and 2.3 if the
registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered or because a sufficient number of Holders shall have withdrawn so that the minimum offering conditions set
forth in Section 2.1 and 2.3 are no longer satisfied (in which case all participating Holders shall bear such expenses pro rata among each other based on the number of Registrable Securities requested to be so registered), unless the Holders of
a majority of the Registrable Securities agree to forfeit their right to a demand registration pursuant to Section 2.1; provided, however, in the event that a withdrawal by the Holders is based upon material adverse information
relating to the Company that is different from the information known or available (upon request from the Company or otherwise) to the Holders requesting registration at the time of their request for registration under Sections 2.1 or 2.3, such
registration shall not be treated as a counted registration for purposes of Sections 2.1 or 2.3 hereof, and the Company shall bear the Registration Expenses for such registration. All Selling Expenses relating to securities registered on behalf of
the Holders shall be borne by the holders of securities included in such registration pro rata among each other on the basis of the number of Registrable Securities so registered. 

  
 8. 

 2.5 Registration Procedures. In the case of each registration effected by
the Company pursuant to Section 2, the Company will keep each Holder advised in writing as to the initiation of each registration and as to the completion thereof. At its expense, the Company will use its commercially reasonable efforts to:

 (a) Keep such registration effective for a period ending on the earlier of the date which is sixty (60) days from the
effective date of the registration statement or such time as the Holder or Holders have completed the distribution described in the registration statement relating thereto; 

(b) To the extent the Company is a well-known seasoned issuer (as defined in Rule 405 under the Securities Act) (a
“WKSI”) at the time any request for registration is submitted to the Company in accordance with Section 2.3, (i) if so requested, file an automatic shelf registration statement (as defined in Rule 405 under the
Securities Act) (an “automatic shelf registration statement”) to effect such registration, and (ii) remain a WKSI (and not become an ineligible issuer (as defined in Rule 405 under the Securities Act)) during the period
during which such automatic shelf registration statement is required to remain effective in accordance with this Agreement; 
 (c)
Prepare and file with the Commission 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 for the period set forth in subsection (a) above; 

(d) Furnish such number of prospectuses, including any preliminary prospectuses, and other documents incident thereto, including any
amendment of or supplement to the prospectus, as a Holder from time to time may reasonably request; 
 (e) Register and qualify the
securities covered by such registration statement under such other securities or Blue Sky laws of such jurisdiction 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; 

(f) Notify each seller 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 following such notification promptly prepare and furnish to such seller 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 light of the circumstances then existing; 

(g) If at any time when the Company is required to re-evaluate its WKSI status for purposes of
an automatic shelf registration statement used to effect a request for registration in accordance with Section 2.3 (i) the Company determines that it is not a WKSI, (ii) the registration statement is required to be kept effective in
accordance with this Agreement, and (iii) the registration rights of the applicable Holders have not terminated, promptly amend the registration statement onto a form the Company is then eligible to use or file a new registration statement on
such form, and keep such registration statement effective in accordance with the requirements otherwise applicable under this Agreement; 

  
 9. 

 (h) If (i) a registration made pursuant to a shelf registration statement is required
to be kept effective in accordance with this Agreement after the third anniversary of the initial effective date of the shelf registration statement and (ii) the registration rights of the applicable Holders have not terminated, file a new
registration statement with respect to any unsold Registrable Securities subject to the original request for registration prior to the end of the three year period after the initial effective date of the shelf registration statement, and keep such
registration statement effective in accordance with the requirements otherwise applicable under this Agreement; 
 (i) Furnish, on the
date that such Registrable Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters, (i) an opinion, dated as of such date, of the counsel representing the Company for the purposes of such
registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and reasonably satisfactory to a majority in interest of the Holders requesting registration of
Registrable Securities and (ii) a “comfort” letter dated as of such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to
underwriters in an underwritten public offering, addressed to the underwriters; 
 (j) Provide a transfer agent and registrar for all
Registrable Securities registered pursuant to such registration statement and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration; 

(k) Otherwise comply with all applicable rules and regulations of the Commission, and make available to its security holders, as soon as
reasonably practicable, an earnings statement covering the period of at least twelve months, but not more than eighteen months, beginning with the first month after the effective date of the Registration Statement, which earnings statement shall
satisfy the provisions of Section 11(a) of the Securities Act; 
 (l) Cause all such Registrable Securities registered pursuant
hereunder to be listed on each securities exchange on which similar securities issued by the Company are then listed; and 
 (m) In
connection with any underwritten offering pursuant to a registration statement filed pursuant to Section 2.1 hereof, enter into an underwriting agreement in form reasonably necessary to effect the offer and sale of Common Stock, provided
such underwriting agreement contains reasonable and customary provisions, and provided further, that each Holder participating in such underwriting shall also enter into and perform its obligations under such an agreement. 

2.6 Indemnification. 

(a) To the extent permitted by law, the Company will indemnify and hold harmless each Holder, each of its officers, directors and
partners, legal counsel and accountants and each person controlling such Holder within the meaning of Section 15 of the Securities Act, with respect to which registration, qualification or compliance has been effected pursuant to this
Section 2, and each underwriter, if any, and each person who controls within the meaning of Section 15 of the Securities Act any underwriter, against all expenses, claims, losses, damages and liabilities (or actions, proceedings or
settlements in respect thereof) arising out of or based on: (i) any untrue statement (or alleged untrue statement) of a material fact contained or incorporated by reference in any registration statement, prospectus, offering circular, issuer
free writing prospectus (as defined in Rule 433 of the Securities Act), issuer information (as defined in Rule 433 of the Securities Act) filed or required to be filed pursuant to Rule 433(d) under the Securities Act or

  
 10. 

 
any other document incident to any such registration or related qualification or compliance, (ii) 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, or (iii) any violation (or alleged violation) by the Company of the Securities Act, any state securities laws or any rule or regulation thereunder applicable to the Company and
relating to action or inaction required of the Company in connection with any offering covered by such registration, qualification or compliance, and the Company will reimburse each such Holder, each of its officers, directors, partners, legal
counsel and accountants 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 and defending or
settling any such claim, loss, damage, liability or action; provided that the Company will not be liable in any such case to the extent that any such claim, loss, damage, liability, or action arises out of or is based on any untrue statement
or omission based upon written information furnished to the Company by such Holder, any of such Holder’s officers, directors, partners, legal counsel or accountants, any person controlling such Holder, such underwriter or any person who
controls any such underwriter, and stated to be specifically for use therein; and provided, further that, the indemnity agreement contained in this Section 2.6(a) shall not apply to amounts paid in settlement of any such loss,
claim, damage, liability or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld). 

(b) To the extent permitted by law, 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 and hold harmless the Company, each of its directors, officers, partners, legal counsel and accountants and 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, each other such Holder, and each of their officers, directors and partners, and each
person controlling each other such Holder, against all claims, losses, damages and liabilities (or actions in respect thereof) arising out of or based on: (i) any untrue statement (or alleged untrue statement) of a material fact contained or
incorporated by reference in any prospectus, offering circular or other document (including any related registration statement, notification, or the like) incident to any such registration, qualification or compliance, or (ii) 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 and such Holders, directors, officers, partners, legal counsel and
accountants, 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, in each case to the extent, but only 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 such Holder and stated to be specifically for use therein; provided, however, that the obligations of such Holder hereunder shall not apply to amounts paid in settlement of any such claims,
losses, damages or liabilities (or actions in respect thereof) if such settlement is effected without the consent of such Holder (which consent shall not be unreasonably withheld); and provided that in no event shall any indemnity under this
Section 2.6(b) (taken together with amounts paid pursuant to Section 2.6(d)) exceed the net proceeds from the offering received by such Holder, except in the case of fraud or willful misconduct by such Holder. 

(c) Each party entitled to indemnification under this Section 2.6 (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 such claim or any litigation resulting therefrom; provided that counsel for the Indemnifying Party, who shall conduct the defense of such claim or any litigation resulting therefrom, shall be approved by the
Indemnified Party (whose approval shall not be unreasonably withheld), and the Indemnified Party may participate in such defense at such party’s expense; and provided, further that the failure of any Indemnified Party to give notice as

  
 11. 

 
provided herein shall not relieve the Indemnifying Party of its obligations under this Section 2.6, to the extent such failure is not prejudicial. 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 that 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. Each Indemnified Party shall furnish such information regarding itself or the claim in question as an Indemnifying Party may reasonably request in writing
and as shall be reasonably required in connection with defense of such claim and litigation resulting therefrom. 
 (d) If the
indemnification provided for in this Section 2.6 is held by a court of competent jurisdiction to be unavailable to an Indemnified Party with respect to any loss, liability, claim, damage, or expense referred to herein, 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. 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. No Holder
will be required under this Section 2.6(d) to contribute any amount (taken together with amounts paid pursuant to Section 2.6(b)) in excess of the net proceeds from the offering received by such Holder, except in the case of fraud or
willful misconduct by such Holder. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such
fraudulent misrepresentation. 
 (e) Notwithstanding the foregoing, to the extent that the provisions on indemnification and
contribution contained in the underwriting agreement entered into by the Investors in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control;
provided that the failure of the underwriting agreement to provide for or address a matter provided for or addressed in the foregoing provisions shall not be a conflict with the foregoing provisions and, in such event, the foregoing provisions shall
control. 
 2.7 Information by Holder. Each Holder of Registrable Securities shall furnish to the Company such
information regarding such Holder and the distribution proposed by such Holder as the Company may reasonably request in writing and as shall be reasonably required in connection with any registration, qualification, or compliance referred to in this
Section 2. 
 2.8 Restrictions on Transfer. 

(a) The holder of each certificate representing Registrable Securities by acceptance thereof agrees to comply in all respects with the
provisions of this Section 2.8. Each Holder agrees not to make any sale, assignment, transfer, pledge or other disposition of all or any portion of the Restricted Securities, or any beneficial interest therein, unless and until: 

(i) There is then in effect a registration statement under the Securities Act covering such proposed disposition and the disposition is made
in accordance with the registration statement; or 

  
 12. 

 (ii) (x) the Holder shall have given prior written notice to the Company of the
Holder’s intention to make such disposition and shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition, (y) if such transfer is prior to the Company’s Initial Public
Offering, the transferee thereof shall have agreed in writing for the benefit of the Company to take and hold such Restricted Securities subject to, and to be bound by, the terms and conditions set forth in this Agreement, including, without
limitation, this Section 2.8 and Section 2.10, and, (z) if reasonably requested by the Company, the Holder shall have furnished the Company, at its expense, with (1) an opinion of counsel reasonably satisfactory to the Company to
the effect that such disposition will not require registration of such Restricted Securities under the Securities Act or (2) a “no action” letter from the Commission 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, 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. 
 (b) Notwithstanding the provisions of Section 2.8(a), no such
registration statement, opinion of counsel or “no action” letter shall be necessary for (i) a transfer not involving a change in beneficial ownership, (ii) a transfer under Rule 144, except in unusual circumstances, or
(iii) transactions involving the distribution without consideration of Restricted Securities by any Holder to (x) a parent, subsidiary or other Affiliate of the Holder; (y) any of the Holder’s partners, members or other equity
owners, or retired partners, retired members or other equity owners, or to the estate of any of the Holder’s partners, members or other equity owners or retired partners, retired members or other equity owners; or (z) a venture capital
fund that is controlled by or under common control with one or more general partners or managing members of, or shares the same management company with, the Holder; provided, in each case, that the Holder shall give written notice to the
Company of the Holder’s intention to effect such disposition and shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition and, if such transfer is prior to the Company’s
Initial Public Offering, the transferee thereof shall have agreed in writing for the benefit of the Company to take and hold such Restricted Securities subject to, and to be bound by, the terms and conditions set forth in this Agreement, including,
without limitation, this Section 2.8 and Section 2.10. 
 (c) Each certificate representing Registrable Securities shall
(unless otherwise permitted by the provisions of this Agreement) be stamped or otherwise imprinted with a legend substantially similar to the following (in addition to any legend required under applicable state securities laws): 

THE OFFER AND SALE OF THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS PURSUANT TO
REGISTRATION OR AN EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY
APPLICABLE STATE SECURITIES LAWS. 
 THE SALE, PLEDGE, HYPOTHECATION, ASSIGNMENT OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS
CERTIFICATE IS SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN FIRST REFUSAL AND CO-SALE AGREEMENT BY AND BETWEEN THE STOCKHOLDER, THE CORPORATION AND CERTAIN HOLDERS OF STOCK OF THE CORPORATION. COPIES OF
SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE CORPORATION. 

  
 13. 

 THE SHARES EVIDENCED HEREBY ARE SUBJECT TO A VOTING AGREEMENT (A COPY OF WHICH MAY BE OBTAINED
UPON WRITTEN REQUEST FROM THE ISSUER), AND BY ACCEPTING ANY INTEREST IN SUCH SHARES THE PERSON ACCEPTING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF SAID VOTING AGREEMENT. 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE, INCLUDING A LOCK-UP PERIOD IN THE EVENT OF A PUBLIC OFFERING, AS SET FORTH IN AN INVESTORS’ RIGHTS AGREEMENT AMONG THE COMPANY AND THE ORIGINAL HOLDERS OF THESE SHARES, COPIES OF WHICH MAY BE OBTAINED AT THE PRINCIPAL
OFFICE OF THE COMPANY. 
 The Holders consent 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 2.8. 
 (d) The first
legend referring to federal and state securities laws identified in Section 2.8(c) hereof stamped on a certificate evidencing the Restricted Securities and the stock transfer instructions and record notations with respect to such Restricted
Securities shall be removed and the Company shall issue a certificate without such legend to the holder of such Restricted Securities if (i) such securities are registered under the Securities Act, or (ii) such holder provides the Company
with an opinion of counsel reasonably acceptable to the Company to the effect that a sale or transfer of the securities may be made without registration or qualification. 

2.9 Rule 144 Reporting. With a view to making available the benefits of certain rules and regulations of the Commission
that may permit the sale of the Restricted Securities to the public without registration, the Company agrees to use its commercially reasonable efforts to: 

(a) Make and keep adequate current public information with respect to the Company available in accordance with Rule 144 under the
Securities Act, at all times from and after the effective date of the first registration under the Securities Act filed by the Company for an offering of its securities to the general public; 

(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; and 
 (c) So long as a Holder owns any
Restricted Securities, furnish to the Holder forthwith upon written request a written statement by the Company as to its compliance with the reporting requirements of Rule 144 (at any time from and after ninety (90) days following the effective
date of the first registration statement filed by the Company for an offering of its securities to the general public), and of the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), a copy
of the most recent annual or quarterly report of the Company, and such other reports and documents so filed as a Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing a Holder to sell any such
securities without registration. 

  
 14. 

 2.10 Market Stand-Off Agreement.
Without the prior written consent of the managing underwriter(s) for the Initial Public Offering, each Holder shall not sell or otherwise transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar
transaction with the same economic effect as a sale, of any Common Stock (or other securities) of the Company held by such Holder as of immediately prior to the effective date of the registration statement for the Initial Public Offering (excluding
shares included in the registration and, for clarity, any shares purchased or held by such Holder who is not a director or officer of the Company or an Affiliate of a director or officer of the Company in or after the Initial Public Offering) during
the one hundred and eighty (180) day period following the effective date of the registration statement for the Initial Public Offering, provided that all officers, directors and holders of more than one percent (1%) of the capital stock
of the Company are bound by and have entered into similar agreements. The obligations described in this Section 2.10 shall not apply to a registration relating solely to employee benefit plans on Form S-l
or Form S-8 or similar forms that may be promulgated in the future, or a registration relating solely to a transaction on Form S-4 or similar forms that may be
promulgated in the future. The Company may impose stop-transfer instructions and may stamp each such certificate with the second legend set forth in Section 2.8(b) hereof with respect to the shares of Common Stock (or other securities) subject
to the foregoing restriction until the end of such one hundred and eighty (180) day period. Each Holder agrees to execute a market standoff agreement with said underwriters in customary form consistent with the provisions of this
Section 2.10. To the extent any of the obligations in this Section 2.10 are waived or terminated with respect to more than one million dollars ($1,000,000) worth of securities, in the aggregate, held by any officer, director or holder of
more than one percent (1%) of the Company’s capital stock, then the provisions of this Section 2.10 shall also be waived or terminated to the same extent for all Investors, applicable to the same percentage of securities held by such
Investors as the percentage of securities being released with respect to securities held by the officers, directors or holders of more than one percent (1%) of the Company’s capital stock. 

2.11 Delay of Registration. No Holder shall have any right to take any action to restrain, enjoin, or otherwise delay any
registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 

2.12 Transfer or Assignment of Registration Rights. The rights to cause the Company to register securities granted to a
Holder by the Company under this Section 2 may be transferred or assigned by a Holder only to (i) a transferee or assignee of not less than twenty percent (20%) of the Registrable Securities (as presently constituted and subject to
subsequent adjustments for stock splits, stock dividends, reverse stock splits, and the like) then held by such Holder or (ii) a subsidiary, parent, general partner, limited partner, retired partner, member, retired member or an entity
affiliated by common control (or other related entity) with such Holder; provided that (i) such transfer or assignment of Registrable Securities is effected in accordance with the terms of Section 2.8 hereof, the Co-Sale Agreement, and applicable securities laws, (ii) the Company is given written notice prior to said transfer or assignment, stating the name and address of the transferee or assignee and identifying the
securities with respect to which such registration rights are intended to be transferred or assigned and (iii) the transferee or assignee of such rights assumes in writing the obligations of such Holder under this Agreement, including without
limitation the obligations set forth in Section 2.10. 
 2.13 Limitations on Subsequent Registration Rights. From
and after the date of this Agreement, the Company shall not, without the prior written consent of the Preferred Majority (as defined below), enter into any agreement with any holder or prospective holder of any securities of the Company giving such
holder or prospective holder any registration rights the terms of which are senior to or on parity with the registration rights granted to the Holders hereunder. 

  
 15. 

 2.14 Termination of Registration Rights. The right of any Holder to request
registration or inclusion in any registration pursuant to Sections 2.1, 2.2 or 2.3 shall terminate on the earlier of (i) such date, on or after the closing of the Company’s first registered public offering of Common Stock, on which all
shares of Registrable Securities held or entitled to be held upon conversion by such Holder may immediately be sold under Rule 144 during any ninety (90) day period and (ii) three (3) years after the closing of a Qualified Public Offering.

 3. Information Covenants of the Company 

The Company hereby covenants and agrees, as follows: 

3.1 Basic Financial Information and Observation Rights. 

(a) Basic Financial Information. Unless waived by the Board, including the approval of a majority of the Preferred
Directors, so long as at least twenty percent (20%) of the Shares (including shares of Common Stock issued upon conversion thereof) (as presently constituted and subject to subsequent adjustments for stock splits, stock dividends, reverse stock
splits, and the like) are issued and outstanding the Company will furnish: 
 (i) To each Holder, as soon as practicable after the end of
each fiscal year of the Company, and in any event within one hundred twenty (120) days after the end of each fiscal year of the Company a consolidated balance sheet of the Company and its subsidiaries, if any, as at the end of such fiscal year,
and consolidated statements of income and cash flows of the Company and its subsidiaries, if any, for such year, prepared in accordance with U.S. generally accepted accounting principles consistently applied, and audited and certified by independent
public accountants of recognized national standing selected by the Company. 
 (ii) To each Holder, as soon as practicable after the end of
the first, second and third quarterly accounting periods in each fiscal year of the Company, and in any event within thirty (30) days after the end of the first, second, and third quarterly accounting periods in each fiscal year of the Company,
an unaudited consolidated balance sheet of the Company and its subsidiaries, if any, as of the end of each such quarterly period, and unaudited consolidated statements of income and cash flows of the Company and its subsidiaries, if any, for such
period, prepared in accordance with U.S. generally accepted accounting principles consistently applied, subject to changes resulting from normal year-end audit adjustments. 

(iii) To each Holder, as soon as practicable after the end of each month in the fiscal year of the Company, and in any event within thirty
(30) days after the end of each month in the fiscal year of the Company, an unaudited consolidated balance sheet of the Company and its subsidiaries, if any, as of the end of each month, and unaudited consolidated statements of income and cash
flows of the Company and its subsidiaries, if any, for such month, prepared in accordance with U.S. generally accepted accounting principles consistently applied, subject to changes resulting from normal
year-end audit adjustments. 
 (iv) To each Holder, at least thirty (30) days prior to the
beginning of each of the Company’s fiscal years an annual operating plan for such fiscal year (and as soon as available, any subsequent material revisions thereto). 

(v) To each Holder, as soon as practicable after the end of each fiscal year of the Company, and in any event within twenty (20) days
after the end of each fiscal year of the Company, a report setting forth in detail all equity and debt holders of the Company as of the end of such fiscal year. 

  
 16. 

 (b) Inspection Rights. So long as any at least twenty percent (20%) of the
Shares (including shares of Common Stock issued upon conversion thereof) (as presently constituted and subject to subsequent adjustments for stock splits, stock dividends, reverse stock splits, and the like) are issued and outstanding the Company,
the Company shall permit each Holder, at such Holder’s expense, to visit and inspect any of the properties of the Company or any of its subsidiaries during normal business hours or at such other reasonable times as may be requested, and to
discuss the affairs, finances and accounts of the Company or any of its subsidiaries with its officers, and to review such information as is reasonably requested all at such reasonable times and as often as may be reasonably requested;
provided, however, that the Company shall not be obligated under this Section 3.1(b) with respect to a competitor of the Company (as determined by the Board in good faith) or with respect to information which the Board determines
in good faith is confidential or attorney client privileged and should not, therefore, be disclosed; provided, further, that HBM shall not be deemed a competitor for any purpose. Each Holder may exercise their rights under this Section 3.1(b)
only for purposes reasonably related to their interests as stockholders of the Company, or under this Agreement and related agreements as stockholders. The rights granted pursuant to this Section 3.1(b) may not be assigned or otherwise conveyed
to a Holder or by any subsequent transferee of any such rights without the prior written consent of the Company; provided, however, that a Holder shall be permitted to transfer rights granted pursuant to this Section 3.1(b) to
partners, members, limited partners, retired partners, stockholders or affiliated venture capital funds of such Holder. 
 3.2
Confidentiality. Each Holder acknowledges that the information received by them pursuant to this Agreement may be confidential and for its use only, and it will not use such confidential information in violation of the Exchange Act
or reproduce, disclose or disseminate such information to any other person, unless such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this Section 3.2 by such
Holder), (b) is or has been independently developed or conceived by the Holder without use of the Company’s confidential information, or (c) is or has been made known or disclosed to the Holder by a third party without a breach of any
obligation of confidentiality such third party may have to the Company; provided, however, that an Holder may disclose confidential information (i) to its employees, attorneys, accountants, consultants, agents and other professionals to the
extent necessary to obtain their services in connection with monitoring its investment in the Company or exercising its rights under this Agreement; (ii) to any prospective purchaser of any Registrable Securities from such Holder, if such
prospective purchaser agrees to be bound by the provisions of this Section 3.2, provided that the Holder promptly notifies the Company of such disclosure and takes reasonable steps to minimize the extent of any such required disclosure;
(iii) to any existing or prospective Affiliate, partner, member, stockholder, or wholly owned subsidiary of such Holder in the ordinary course of business and to the extent necessary, provided that such Holder informs such Person that such
information is confidential and directs such Person to maintain the confidentiality of such information; or (iv) as may otherwise be required by law, provided that the Holder promptly notifies the Company of such disclosure and takes reasonable
steps to minimize the extent of any such required disclosure. 
 3.3 Termination of Covenants. The covenants set forth
in this Section 3 shall terminate and be of no further force and effect after the earlier of (a) the Initial Public Offering, (b) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or
15(d) of the Exchange Act, or (c) the occurrence of a Liquidation Event (as such term is defined in the Company’s Certificate of Incorporation). 

4. Right of First Refusal. 
 4.1
Right of First Refusal to ROFR Holders. The Company hereby grants to each Holder who is party to this Agreement and who is an “accredited investor” within the meaning of applicable securities laws and regulations (a
“ROFR Holder”), the right of first refusal to purchase its pro rata share of New Securities (as defined in this Section 4.1(a) which the Company may, from time to time, propose

  
 17. 

 
to sell and issue after the date of this Agreement. A ROFR Holder’s pro rata share, for purposes of this right of first refusal, is equal to the ratio of (a) the number of Shares owned
by such ROFR Holder immediately prior to the issuance of New Securities (assuming conversion or exercise of all outstanding convertible securities, rights, options and warrants into Shares held by such ROFR Holder) to (b) the total number of
Shares held by all ROFR Holders prior to the issuance of New Securities (assuming conversion or exercise of all outstanding convertible securities, rights, options and warrants into Shares held by all ROFR Holders). This right of first refusal shall
be subject to the following provisions: 
 (a) “New Securities” shall mean any capital stock (including Common
Stock and/or Preferred Stock) of the Company whether now authorized or not, and rights, convertible securities, options or warrants to purchase such capital stock, and securities of any type whatsoever that are, or may become, exercisable or
convertible into capital stock; provided that the term “New Securities” does not include (i) any securities that are not deemed to be “Additional Stock” pursuant to Article IV, Section 4(d)(ii) of
the Restated Certificate, (ii) any shares of Series C Preferred Stock issued pursuant to the Purchase Agreement or (iii) any shares issued pursuant to Section 5.5 of this Agreement. 

(b) In the event the Company proposes to undertake an issuance of New Securities, it shall give each ROFR Holder written notice of its
intention, describing the type of New Securities, and their price and the general terms upon which the Company proposes to issue the same. Each ROFR Holder shall have ten (10) days after any such notice is mailed or delivered to agree to
purchase such ROFR Holder’s pro rata share (or such lesser amount as desired) of such New Securities for the price and upon the terms specified in the notice by giving written notice to the Company and stating therein the quantity of New
Securities to be purchased, if any. Notwithstanding the foregoing, the Company shall not be required to offer or sell such New Securities to any ROFR Holder if such sale would cause the Company to be in violation of applicable federal securities
laws by virtue of such offer or sale. 
 (c) If not all of the ROFR Holders exercise fully the right of first refusal within such ten
(10) day period (the “Election Period”), then the Company shall promptly notify in writing the ROFR Holders who do so elect and shall offer such ROFR Holders the right to acquire such unsubscribed shares. Each ROFR
Holder shall have five (5) days after receipt of such notice to notify the Company of its election to purchase all or a portion thereof of its pro rata portion of the unsubscribed shares, indicate whether it intends to purchase unsubscribed
shares in excess of its pro rata share (“Excess Shares”) and, if so, the number of such unsubscribed shares it wishes to purchase. The Excess Shares, if any, shall be allocated to participating ROFR Holders in a manner most
consistent with the pro rata shares of such ROFR Holders as determined in good faith by the Board. If the ROFR Holders fail to exercise in full the rights of first refusal, the Company shall have sixty (60) days thereafter to sell or enter into
an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within thirty (30) days from the date of said agreement) to sell that portion of the New Securities with respect to which the ROFR
Holders’ right of first refusal option set forth in this Section 4.1 was not exercised, at a price and upon terms no more favorable to the purchasers thereof than specified in the Company’s notice to ROFR Holders delivered pursuant to
Section 4.1(b). In the event the Company entered into an agreement to sell such New Securities within such sixty (60) day period following the Election Period, or sold such securities within such thirty (30) day period following the
date of said agreement, the Company shall not thereafter issue or sell any New Securities, without first again offering such securities to the ROFR Holders in the manner provided in this Section 4.1. 

(d) The rights of first refusal granted under this Agreement shall expire upon the earlier of (a) the Initial Public Offering and
(b) the occurrence of a Liquidation Event. 
 (e) The rights of first refusal of each ROFR Holder under this
Section 4 may be transferred subject to the same restrictions as any transfer of registration rights pursuant to Section 2.12. 

  
 18. 

 5. Other Company Covenants. 

5.1 Proprietary Information and Inventions Agreements. The Company shall require all employees and consultants with access
to confidential information to execute and deliver a Proprietary Information and Inventions Agreement in substantially the form approved by Board. 

5.2 Equity Agreements. Unless approved by the Board, including the approval of a majority of the Preferred Directors, all
future employees of the Company who shall purchase, or receive options to purchase, shares of Common Stock following the date hereof shall be required to execute stock purchase or option agreements providing for: (a) vesting of shares over a
four (4) year period with the first twenty five percent (25%) of such shares vesting following twelve (12) months of continued employment or services, and the remaining shares vesting in equal monthly installments over the following thirty
six (36) months thereafter, with a vesting commencement date be the same as their employment start date, (b) a one hundred and eighty (180)-day lockup period (plus an additional period of up to
thirty-four (34) days) in connection with the Initial Public Offering; (c) the Company retaining a right of first refusal on transfers until the Initial Public Offering; (d) the Company retaining a right to repurchase any unvested
shares at their cost upon termination of employment; (e) a prohibition on the transfer of shares that have not yet vested and (f) an exercise price at least equal to the then current fair market value of the Common Stock. 

5.3 Indemnification Matters. The Company hereby acknowledges that it will enter into indemnification agreements with each
director on the Board and shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement by or on behalf of any such director on the Board to the extent legally permitted and as required by the
Company’s Certificate of Incorporation or Bylaws of the Company (or any agreement between the Company and such director). 
 5.4
Director and Officer Insurance. The Company has as of the date hereof directors and officers liability insurance in an amount approved by and on terms and conditions satisfactory to the Board of Directors, including a majority of
the Preferred Directors, and will use its commercially reasonable efforts to cause such insurance policy to be maintained until such time as the Board of Directors, including a majority of the Preferred Directors, determines that such insurance
should be discontinued. 
 5.5 IPO. 

(a) If the Company undertakes an initial firm commitment underwritten public offering (the “IPO”) reasonably
expected to close on or after January 1, 2019, then, subject to compliance at the time with all applicable securities regulations, the Company shall use its commercially reasonable efforts to cause the managing underwriter or underwriters of
such IPO to establish a directed share program (the “Program”) whereby such managing underwriter or underwriters would offer each Major Investor priority as to the participation in such Program on the terms as described
herein. 
 (b) The Company shall use commercially reasonable efforts to cause the number of shares of Common Stock to be offered to
the Major Investors, collectively, pursuant to the Program (the “Program Shares”) to equal not more than the quotient obtained by dividing (i) 10% of the aggregate offering price to the public in the IPO (excluding any
over-allotment or similar option granted to the underwriter(s)) based on the midpoint of the estimated offering price range the Company first sets forth publicly in the registration statement for the IPO or an amendment thereto (the
“Midpoint Price”) by (y) the Midpoint Price. 
 (c) The Company shall use its commercially reasonable
efforts to cause the managing underwriter or underwriters to offer to each Major Investor the right to purchase its Pro-Rata Share (as defined below) of the Program Shares at the IPO per share price to public.
Each Major Investor’s “Pro-

  
 19. 

 
Rata Share” shall equal the quotient obtained by dividing (i) the number of shares of Common Stock issuable or issued upon conversion of shares of Preferred Stock then
held by such Major Investor, by (ii) the number of shares of Common Stock issuable or issued upon conversion of shares of Preferred Stock then held by all Major Investors. 

(d) Each Major Investor shall have the right to apportion its participation, if any, in the IPO pursuant to this Section 5.5 among
any entities under common investment management with such Major Investor. The rights of any Major Investor under this Section 5.4 are not assignable to any other party. 

(e) Notwithstanding the foregoing, the Major Investors acknowledge that, despite the Company’s use of its commercially reasonable
efforts, the managing underwriter or underwriters for an IPO may determine in their sole discretion that it is not advisable to designate all such shares as Program Shares in the IPO, in which case the number of Program Shares may be reduced or no
Program Shares may be designated, as applicable. 
 (f) Notwithstanding the foregoing, the Major Investors also acknowledge that
(i) this is not an offer or the commitment to make a future offer for directed shares, (ii) any future offer and sale of any Program Shares to any person pursuant to this Section 5.5 will only be made (A) in compliance with all
federal and state securities laws, including, without limitation, Rule 134 under the Securities Act, and all applicable rules and regulations promulgated by the Financial Industry Regulatory Authority (FINRA) and such other self-regulatory
organizations as may be applicable in connection with the IPO or have authority over the participants therein, (B) if the initial registration statement with respect to the IPO is filed after one year from the date hereof and (C) subject
to receipt by the Major Investors of a prospectus in the form first used by the underwriters to confirm sales of shares of Common Stock in the IPO or in the form first made available to the underwriters by the Company to meet requests of purchasers
pursuant to Rule 173 under the Securities Act. 
 (g) Each Major Investor hereby represents that it is either (i) a
“qualified institutional buyer” (as defined in Securities Act Rule 144A) or (ii) an accredited investor as defined in Securities Act 501(a), and that all rights under this Section 5.5 are provided by the Company in reliance upon,
and is intended to conform with, Section 105(c) of the Jumpstart Our Business Startups Act. 
 5.6 Right to Conduct
Activities. The Company hereby agrees and acknowledges that all Preferred Majority Holders, RTW Master Fund, Ltd. and RTW Innovation Master Fund, Ltd. (collectively, the “Funds”) are professional investment funds, and as
such invest in numerous portfolio companies, some of which may be deemed competitive with the Company’s business (as currently conducted or as currently proposed to be conducted). The Company hereby agrees that, to the extent permitted under
applicable law, the Funds shall not be liable to the Company for any claim arising out of, or based upon, (i) the investment by the applicable Fund in any entity competitive with the Company, or (ii) actions taken by any partner, officer
or other representative of the applicable Fund to assist any such competitive company, whether or not such action was taken as a member of the board of directors of such competitive company or otherwise, and whether or not such action has a
detrimental effect on the Company; provided, however, that the foregoing shall not relieve (x) any of the Investors from liability associated with the unauthorized disclosure of the Company’s confidential information obtained pursuant to
this Agreement or through participation on the Board of Directors, or (y) any director or officer of the Company from any liability associated with his or her fiduciary duties to the Company. 

  
 20. 

 6. Miscellaneous. 

6.1 Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon
the respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or
liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 
 6.2 Governing Law.
This Agreement shall be governed in all respects by the laws of the State of California without regard to choice of laws or conflict of laws provisions thereof. 

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

6.4 Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be
considered in construing or interpreting this Agreement. 
 6.5 Notices. All notices and other communications required
or permitted hereunder shall be in writing and shall be mailed by registered or certified mail, postage prepaid, return receipt requested, or otherwise delivered by hand or by messenger or confirmed facsimile, addressed (a) if to an Investor,
at such Investor’s address and with such copies as are set forth on the signatures page of this Agreement, or at such other address as such Investor shall have furnished to the Company in writing, or (b) if to the Company, at its address
set forth on the signature page of this Agreement addressed to the attention of the Corporate Secretary, or at such other address as the Company shall have furnished to the Investors and with a copy (which shall not constitute notice) to Cooley LLP,
101 California Street, 5th Floor, San Francisco, California 94111, Attention: David Peinsipp. Unless specifically stated otherwise, if notice is provided by mail, it shall be deemed to be
delivered upon proper deposit in a mailbox, if notice is provided by facsimile, it shall be deemed to be delivered upon receipt by the sender of confirmation of facsimile transmission, and if notice is delivered by hand or by messenger, it shall be
deemed to be delivered upon actual delivery. Notwithstanding any of the foregoing, with respect to HBM, only a nationally recognized overnight courier shall be used to effectuate the delivery of any notices pursuant to this Subsection 6.5, and such
notice or other communication for purposes of this Agreement shall not be treated as effective or having been given if some other delivery method is utilized; and a copy (which shall not constitute notice) shall also be sent to Cooley LLP, 3175
Hanover Street, Palo Alto, CA 94304, Attention: Mehdi Khodadad, Esq. 
 6.6 Amendments and Waivers. Except as expressly
provided herein, any term of this Agreement may be amended, terminated or waived only with the written consent of the Company and the Preferred Majority; provided, however, that Holders purchasing shares of Series C Preferred Stock in an
Additional Closing (as defined in the Purchase Agreement) may become parties to this Agreement, by executing a counterpart of this Agreement without any amendment of this Agreement pursuant to this paragraph or any consent or approval of any other
Holder; provided, further no such amendment, termination or waiver shall adversely affect any Investor in a different or disproportionate manner relative to the other Investors of the same class or series unless such amendment or waiver is
agreed to in writing by the affected Investor; and provided further the provisions of Section 2.10 of this Agreement shall not be amended in a manner adverse to the holders of Series C Preferred Stock without first receiving the written
consent of the holders of 67% of the outstanding shares of Series C Preferred Stock. Any amendment or waiver effected in accordance with this Section 6.6 shall be binding upon the Holders and each transferee of the Shares (or the Common Stock
issuable upon conversion thereof), each future holder of all such securities, and the Company. Each Holder acknowledges that by the operation of this paragraph, certain 

  
 21. 

 
holders of Registrable Securities will have the right and power to diminish or eliminate all rights of such Holder under this Agreement. Notwithstanding anything to the contrary, no amendment,
modification, termination or waiver may (a) materially adversely change the rights or obligations of any Holder in a manner materially different from other Holders without such Holder’s written consent or (b) impose any obligations or
liabilities on a Holder different or greater in any material respect than the obligations and liabilities contemplated by the terms of this Agreement as of the date hereof. 

6.7 Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be
effective and valid under applicable law, but if any provision of this Agreement shall be held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of this Agreement. 
 6.8 Delays or Omissions.
No delay or omission to exercise any right, power or remedy accruing to any party upon any breach or default of any other party under this Agreement shall impair any such right, power or remedy of such party, 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 party of any breach or default under this Agreement, or any waiver on the part of any party 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 party, shall be cumulative and not
alternative. 
 6.9 Entire Agreement. This Agreement (including the exhibits hereto) constitutes the full and entire
understanding and agreement between the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties are expressly canceled. 

6.10 Further Assurances. At any time or from time to time after the date hereof, the parties hereto agree to cooperate
with each other, and at the request of any such party hereto, to execute and deliver any further instruments or documents and to take all such further action as the other party may reasonably request in order to evidence or effectuate the
consummation of the transactions contemplated hereby and to otherwise carry out the intent of the parties hereunder. 
 6.11
Aggregation of Stock. All shares of Company equity held or acquired by a Holder and/or its Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement, and such
affiliated persons may apportion such rights as among themselves in any manner they deem appropriate. 
 6.12 Jurisdiction;
Venue. With respect to any disputes arising out of or related to this Agreement, the parties consent to the exclusive jurisdiction of, and venue in, the state courts in Santa Clara County in the State of California (or in the event of
exclusive federal jurisdiction, the courts of the Northern District of California). 
 6.13 WAIVER OF JURY TRIAL. EACH
PARTY HERETO AND ANY OTHER PERSON CLAIMING ANY RIGHTS HEREUNDER, HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS
AGREEMENT OR THE ACTIONS OF ANY PARTY HERETO IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT HEREOF. If the waiver of jury trial set forth in this section is 

  
 22. 

 
not enforceable, then any claim or cause of action arising out of or relating to this Agreement shall be settled by judicial reference pursuant to California Code of Civil Procedure
Section 638 et seq. before a referee sitting without a jury, such referee to be mutually acceptable to the parties or, if no agreement is reached, by a referee appointed by the Presiding Judge of the California Superior Court for Santa
Clara County. This paragraph shall not restrict a party from exercising remedies under the Uniform Commercial Code or from exercising pre-judgment remedies under applicable law. 

6.14 Amendment and Restatement of Prior Agreement. The Prior Agreement is hereby amended in its entirety and restated
herein. Such amendment and restatement is effective upon the execution of this Agreement by the Company and the Preferred Majority. Upon such execution, all provisions of, rights granted and covenants made in the Prior Agreement are hereby waived,
released and superseded in their entirety and shall have no further force or effect, including, without limitation, all rights of first refusal and any notice period associated therewith otherwise applicable to the transactions contemplated by the
Purchase Agreement. 
 [THIS SPACE LEFT BLANK INTENTIONALLY] 
  

  
 23. 

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

			
	COMPANY:
	
	PRINCIPIA BIOPHARMA INC.
		
	By:	 	 /S/ Martin Babler

		 	MARTIN BABLER
		 	CHIEF EXECUTIVE OFFICER
	
	Address:
		 	400 East Jamie Court, Suite 302
		 	South San Francisco, CA 94080

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	CORMORANT PRIVATE HEALTHCARE FUND I, LP
	
	By: Cormorant Private Healthcare GP, LLC
		
	By:	 	 /S/ Bihua Chen

		 	Bihua Chen, Managing Member
		
	Address:	 	200 Clarendon Street, 52nd Floor Boston, MA 02116
	
	CORMORANT PRIVATE HEALTHCARE FUND II, LP
		
	By: 	 	Cormorant Private Healthcare GP II, LLC
		
	By:	 	 /S/ Bihua Chen

		 	Bihua Chen, Managing Member
		
	Address:	 	200 Clarendon Street, 52nd Floor Boston, MA 02116
	
	CORMORANT GLOBAL HEALTHCARE MASTER FUND, LP
	
	By: Cormorant Global Healthcare GP, LLC
		
	By:	 	 /S/ Bihua Chen

		 	Bihua Chen, Managing Member
		
	Address:	 	200 Clarendon Street, 52nd Floor Boston, MA 02116

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	HBM HEALTHCARE INVESTMENTS (CAYMAN) LTD.
		
	By:	 	 /S/ Jean-Marc LeSieur

	Name:	 	Jean-Marc LeSieur
	Title:	 	Managing Director
		
	Address:	 	Governors Square, Suite #4-212-2
		 	23 Lime Tree Bay Avenue, West Bay
		 	PO Box 30852
		 	Grand Cayman KY1-1204
		 	Cayman Islands

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	RTW MASTER FUND, LTD.
		
	By:	 	 /S/ Roderick Wong

	Name:	 	Roderick Wong
	Title:	 	Director
	
	Address: RTW Investments, LP
	412 West 15th Street, Floor 9
	New York NY 10011
	
	RTW INNOVATION MASTER FUND, LTD.
		
	By:	 	 /S/ Roderick Wong

	Name:	 	Roderick Wong
	Title:	 	Director
	
	Address: RTW Investments, LP
	412 West 15th Street, Floor 9
	New York NY 10011Address:

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	SAMSARA BIOCAPITAL, L.P.
		
	By:	 	Samsara BioCapital GP, LLC, General Partner
		
	By:	 	 /S/ Srinivas Akkaraju

	Name:	 	Srinivas Akkaraju, MD, PhD
	Title:	 	Managing Member
		
	Address:	 	 628 Middlefield Road
 Palo Alto,
CA 94301

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	SOFINNOVA VENTURE PARTNERS VIII, L.P.
		
	By:	 	Sofinnova Management VIII, L.L.C.
		 	Its General Partner
		
	By:	 	 /S/ Mike Powell

	Name:	 	Mike Powell
	Title:	 	Managing Member
		
	Address:	 	3000 Sand Hill Road, Building 4, Ste 250
		 	Menlo Park, CA 94025
	
	With a copy, which shall not constitute notice, to:
		
		 	WilmerHale
		 	60 State Street
		 	Boston, MA 02109
		 	Attn: Jason L. Kropp
		 	Facsimile: +1 617-526-5000

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	667, L.P.
	BY: BAKER BROS. ADVISORS LP, management company and investment adviser to 667, L.P., pursuant to authority granted to it by Baker Biotech Capital, L.P., general partner to 667, L.P.,
and not as the general partner.
		
	By:	 	 /S/ Scott Lessing

		 	Scott Lessing
		 	President
	
	BAKER BROTHERS LIFE SCIENCES, L.P.
	
	By: BAKER BROS. ADVISORS LP, management company and investment adviser to Baker Brothers Life Sciences, L.P., pursuant to authority granted to it by Baker Brothers Life Sciences Capital,
L.P., general partner to Baker Brothers Life Sciences, L.P., and not as the general partner.
		
	By:	 	 /S/ Scott Lessing

		 	Scott Lessing
		 	President
		
	Address:	 	860 Washington St. 3rd Floor
		 	New York, NY 10014

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	NEW LEAF BIOPHARMA OPPORTUNITIES II, L.P.
		
	By:	 	New Leaf BPO Associates II, L.P.
	Its:	 	General Partner
		
	By:	 	New Leaf BPO Management II, L.L.C.
	Its:	 	General Partner
		
	By:	 	 /S/ Craig L. Slutzkin

		 	Craig L. Slutzkin
		 	Chief Financial Officer
	
	Contact information for Legal Notices:
	
	New Leaf Biopharma Opportunities II, L.P.
	7 Times Square, Suite 3502
	New York, NY 10036
	Email: Craig@NLVPartners.com
	Phone: 646-871-6420

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	NEW LEAF VENTURES II, L.P.
		
	By:	 	New Leaf Venture Associates II, L.P.
	Its:	 	General Partner
		
	By:	 	New Leaf Venture Management II, L.L.C.
	Its:	 	General Partner
		
	By:	 	 /S/ Craig L. Slutzkin

	Name:	 	Craig L. Slutzkin
	Title:	 	Chief Financial Officer

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

							
	INVESTORS:
	
	ORBIMED PRIVATE INVESTMENTS IV, LP
		
	By:	 	OrbiMed Capital GP IV I LLC, its general partner
			
		 	By:	 	OrbiMed Advisors LLC, its managing member
				
		 		 	By:	 	 /S/ Carl Gordon

		 		 		 	Name: Carl Gordon
		 		 		 	Title: Member
		
	Address:	 	601 Lexington Avenue, 54th Floor
		 	New York, NY 10022

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	MORGENTHALER VENTURE PARTNERS IX, L.P.
		
	By:	 	Morgenthaler Management Partners IX, LLC Its Managing Partner
		
	By:	 	 /S/ Jason Lettmann

	Name:	 	Jason Lettmann
	Title:	 	Member
		
	Address:	 	3200 Alpine Road
		 	Portola Valley, California 94028

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	S.R. ONE LTD.
		
	By:	 	 /S/ Simeon George

	Name:	 	Simeon George
	Title:	 	Vice President and Partner
		
	Address:	 	161 Washington Street, Suite 500
		 	Conshohocken, PA 19428

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	WENDY ADAMS
		
	By:	 	 /S/ Wendy Adams

	
	Address:

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	BRAMELD COLOCCI LIVING TRUST DATED APRIL 20, 2010 AND AMENDMENTS THERETO
		
	By:	 	 /S/ Kenneth Brameld

		 	KENNETH BRAMELD
		 	TRUSTEE
		
	Address:	 	345 Camino Al Lago
		 	Menlo Park, CA 94027
		
	By:	 	 /S/ Natalia Colocci

		 	NATALIA COLOCCI 
		 	TRUSTEE
		
	Address:	 	345 Camino Al Lago
		 	Menlo Park, CA 94027

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	GC&H INVESTMENTS LLC
		
	By:	 	 /S/ Jim Kindler

		
	Address:	 	Cooley LLP
		 	101 California Street, 5th Floor
		 	San Francisco, CA 94111

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	MARTIN BABLER, AS CUSTODIAN FOR ANGELICA VERONIQUE BABLER-KUEBLER

 
			
		
	By:	 	 /S/ Martin Babler

 

			
	
	Address:
	
	MARTIN BABLER, AS CUSTODIAN FOR JUSTIN ALEXANDER BABLER-KUEBLER

 
			
		
	By:	 	 /S/ Martin Babler

 

			
	
	Address:
	
	MARTIN BABLER, AS CUSTODIAN FOR NATALIE FLURINA BABLER-KUEBLER

 
			
		
	By:	 	 /S/ Martin Babler

 

			
		
	Address:	 	

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	MISSION BAY CAPITAL, LLC
		
	By:	 	 /S/ Douglas Crawford

	Name:	 	Douglas Crawford
	Title:	 	Managing Director
		
	Address:	 	1459 – 18th Street, Suite 263
		 	San Francisco, CA 94107

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

					
	INVESTORS:
	
	LAINE OOI
		
	By:	 	 /S/ Laine Ooi

		
		 	Address: 3212 Upper Lock Ave
		 	                Belmont, CA 94002

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	WS INVESTMENT COMPANY, LLC (2018A)
		
	By:	 	 /S/ James A. Terranova

	Name:	 	James A. Terranova
	Title:	 	
		
	Address:	 	
	
	WS INVESTMENT COMPANY, LLC
		
	By:	 	 /S/ James A. Terranova

	Name:	 	James A. Terranova
	Title:	 	
		
	Address:	 	
	
	WS INVESTMENT COMPANY, LLC (2011A)
		
	By:	 	 /S/ James A. Terranova

	Name:	 	James A. Terranova
	Title:	 	
		
	Address:	 	
	
	WS INVESTMENT COMPANY, LLC (2016A)
		
	By:	 	 /S/ James A. Terranova

	Name:	 	James A. Terranova
	Title:	 	
		
	Address:	 	

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

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

			
	INVESTORS:
	
	THE BOARD OF TRUSTEES OF LELAND STANFORD JUNIOR UNIVERSITY (DAPER I)
		
	By:	 	 /S/ Sabrina Liang

	Name:	 	Sabrina Liang
	Title:	 	Director
		 	Separate Investments
		
	Address:	 	Stanford Management Company
		 	634 Knight Way
		 	Stanford, CA 94305-7297

 SIGNATURE PAGE TO THE
PRINCIPIA BIOPHARMA INC. 
 SERIES C FINANCING –
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 EXHIBIT A 

SCHEDULE OF INVESTORS 

INVESTORS 

Cormorant Private Healthcare Fund II, LP 

200 Clarendon Street 
 52nd Floor 
 Boston, MA 02116 

Cormorant Private Healthcare Fund I, LP 

200 Clarendon Street 
 52nd Floor 
 Boston, MA 02116 

Cormorant Global Healthcare Master Fund, LP 

200 Clarendon Street 
 52nd Floor 
 Boston, MA 02116 

HBM Healthcare Investments (Cayman) Ltd. 

RTW Master Fund, Ltd. 

RTW Innovation Master Fund, Ltd. 

Samsara BioCapital, L.P. 

628 Middlefield Road 
 Palo Alto, CA
94301 
 Sofinnova Venture Partners VIII, L.P. 

3000 Sand Hill Road, Bldg 4, 
 Suite
250 
 Menlo Park, CA 94025 

Baker Brothers Life Sciences, L.P. 

667 Madison Avenue 
 17th Floor 

New York, NY 10021-8029 

667, L.P. (account #1) 
 667
Madison Avenue 
 17th Floor 
 New
York, NY 10021-8029 
 667, L.P. (account #2) 

667 Madison Avenue 
 17th Floor 

New York, NY 10021-8029 

 14159, L.P. 

667 Madison Avenue 
 17th Floor 

New York, NY 10021-8029 

New Leaf Ventures II, L.P. 

7 Times Square, Suite 3502 
 New
York, NY 10036 
 New Leaf Biopharma Opportunities II, L.P. 

7 Times Square, Suite 3502 
 New
York, NY 10036 
 OrbiMed Private Investments IV, LP 

601 Lexington Avenue 
 54th Floor

 New York, NY 10022 

Morgenthaler Venture Partners IX, L.P. 

3200 Alpine Road 
 Portola Valley,
California 94028 
 SR One Ltd. 

161 Washington Street 
 Suite 500

 Conshohocken, PA 19428 

Wendy Adams 
 Brameld
Colocci Living Trust Dated April 20, 
 2010 and Any Amendments Thereto 

345 Camino Al Lago 
 Menlo Park, CA
94027-6543 
 GC&H Investments LLC 

c/o Cooley LLP 
 101 California
Street, 5th Floor 
 San Francisco, CA 94111 

Martin Babler, as Custodian for Angelica Veronique Babler-Kuebler 

Martin Babler, as Custodian for Justin Alexander Babler-Kuebler 

Martin Babler, as Custodian for Natalie Flurina Babler-Kuebler 

Mission Bay Capital 
 1459
– 18th Street 
 Suite 263 

San Francisco, CA 94107 

 Miller-Horning Family Trust U/A/D 

January 25, 1985 
 250
Golden Hills Drive 
 Portola Valley, CA 94028 

Laine Ooi 
 The Board of
Trustees of Leland 
 Stanford Junior University (DAPER 1) 

c/o: Stanford Management Company 

635 Knight Way 
 Stanford, CA, 94305

 Alexandria Equities, LLC 

385 E. Colorado Blvd., Suite 299 

Pasadena, CA 91101 
 WS
Investment Company, LLC (2018A) 
 650 Page Mill Road 

Palo Alto, CA 94304EX-10.2

 Exhibit 10.2 

PRINCIPIA BIOPHARMA INC. 

AMENDED AND RESTATED 

2008 EQUITY INCENTIVE PLAN 

1. Purposes of the Plan. The purposes of the Principia Biopharma Inc. Amended and Restated 2008 Equity Incentive Plan are to attract
and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to Employees, Directors and Consultants and to promote the success of the Company’s business. Options granted under the Plan
may be Incentive Stock Options or Non-Qualified Stock Options, as determined by the Administrator at the time of grant. Stock Purchase Rights may also be granted under the Plan. 

All share numbers in this document reflect the 1.25-for-1
split of the Common Stock effected on February 9, 2011. 
 2. Definitions. As used herein, the following definitions shall apply:

 (a) “Acquisition” means and includes each of the following: 

(i) A transaction or series of transactions (other than an offering of Common Stock to the general public through a registration
statement filed with the Securities and Exchange Commission) whereby any “person” or related “group” of “persons” (as such terms are used in Sections 13(d) and 14(d)(2) of the Exchange Act) (other than the Company, any
of its Subsidiaries, an employee benefit plan maintained by the Company or any of its subsidiaries or a “person” that, prior to such transaction, directly or indirectly controls, is controlled by, or is under common control with, the
Company) directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) of securities of the Company possessing more than 50% of the total combined voting power
of the Company’s securities outstanding immediately after such acquisition; provided, however, any change in the beneficial ownership of the securities of the Company as a result of a private financing of the Company that is approved by
the Board shall not be deemed to be an Acquisition; or 
 (ii) During any period of two consecutive years, individuals who, at the
beginning of such period, constitute the Board together with any new director(s) (other than a director designated by a person who shall have entered into an agreement with the Company to effect a transaction described in Section 2(a)(i) or
Section 2(a)(iii)) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either
were directors at the beginning of the two-year period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof; or 

(iii) The consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more
intermediaries) of (x) a merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or substantially all of the Company’s assets in any single transaction or series of related transactions
or (z) the acquisition of assets or stock of another entity, in each case other than a transaction: 

  
 1. 

 (A) Which results in the Company’s voting securities outstanding immediately before
the transaction continuing to represent (either by remaining outstanding or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly
or indirectly, all or substantially all of the Company’s assets or otherwise succeeds to the business of the Company (the Company or such person, the “Successor Entity”)) directly or indirectly, at least a majority of
the combined voting power of the Successor Entity’s outstanding voting securities immediately after the transaction, and 
 (B)
After which no person or group beneficially owns voting securities representing 50% or more of the combined voting power of the Successor Entity; provided, however, that no person or group shall be treated for purposes of this
Section 2(a)(iii)(B) as beneficially owning 50% or more of combined voting power of the Successor Entity solely as a result of the voting power held in the Company prior to the consummation of the transaction; or 

(iv) The Company’s stockholders approve a liquidation or dissolution of the Company. 

The Administrator shall have full and final authority, which shall be exercised in its discretion, to determine conclusively whether an Acquisition has
occurred pursuant to the above definition, and the date of the occurrence of such Acquisition and any incidental matters relating thereto. 

(b) “Administrator” means the Board or the Committee responsible for conducting the general administration of
the Plan, as applicable, in accordance with Section 4 hereof 
 (c) “Applicable Laws” means the
requirements relating to the administration of stock option plans under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the
applicable laws of any foreign country or jurisdiction where Options or Stock Purchase Rights are granted under the Plan. 
 (d)
“Board” means the Board of Directors of the Company. 
 (e) “Code” means the
Internal Revenue Code of 1986, as amended, or any successor statute or statutes thereto. Reference to any particular Code section shall include any successor section. 

(f) “Committee” means a committee appointed by the Board in accordance with Section 4 hereof. 

(g) “Common Stock” means the common stock of the Company. 

(h) “Company” means Principia Biopharma Inc., a Delaware corporation. 

(i) “Consultant” means any consultant or adviser if: (i) the consultant or adviser renders bona fide
services to the Company or any Parent or Subsidiary of the Company; (ii) the services rendered by the consultant or adviser are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly or
indirectly promote or maintain a market for the Company’s securities; and (iii) the consultant or adviser is a natural person. 

  
 2. 

 (j) “Director” means a member of the Board. 

(k) “Disability” means total and permanent disability within the meaning of Section 22(e)(3) of the Code.

 (l) “Employee” means any person, including an Officer or Director, who is an employee (as defined in
accordance with Section 3401(c) of the Code) of the Company or any Parent or Subsidiary of the Company. A Service Provider shall not cease to be an Employee in the case of (i) any leave of absence approved by the Company or
(ii) transfers between locations of the Company or between the Company, its Parent, any Subsidiary, or any successor. For purposes of Incentive Stock Options, no such leave may exceed ninety (90) days, unless reemployment upon expiration
of such leave is guaranteed by statute or contract. Neither service as a Director nor payment of a director’s fee by the Company shall be sufficient, by itself, to constitute “employment” by the Company. 

(m) “Equity Restructuring” shall mean a non-reciprocal transaction
between the Company and its stockholders, such as a stock dividend, stock split, spin-off, rights offering or recapitalization through a large, nonrecurring cash dividend, that affects the shares of Common
Stock (or other securities of the Company) or the share price of Common Stock (or other securities) and causes a change in the per share value of the Common Stock underlying outstanding awards granted under the Plan. 

(n) “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor statute or statutes
thereto. Reference to any particular Exchange Act section shall include any successor section. 
 (o) “Fair Market
Value” means, as of any date, the value of a share of Common Stock determined as follows: 
 (i) If the Common Stock is
listed on any established stock exchange or a national market system, its Fair Market Value shall be the closing sales price for a share of such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system for such
date, or if no bids or sales were reported for such date, then the closing sales price (or the closing bid, if no sales were reported) on the trading date immediately prior to such date during which a bid or sale occurred, in each case, as reported
in The Wall Street Journal or such other source as the Administrator deems reliable; 
 (ii) If the Common Stock is regularly
quoted by a recognized securities dealer but selling prices are not reported, its Fair Market Value shall be the mean between the high bid and low asked prices for a share of the Common Stock on such date, or if no closing bid and asked prices were
reported for such date, the date immediately prior to such date during which closing bid and asked prices were quoted for such Common Stock, in each case, as reported in The Wall Street Journal or such other source as the Administrator deems
reliable; or 

  
 3. 

 (iii) In the absence of an established market for the Common Stock, the Fair Market Value
thereof shall be determined in good faith by the Administrator. 
 (p) “Holder” means a person who has been
granted or awarded an Option or Stock Purchase Right or who holds Shares acquired pursuant to the exercise of an Option or Stock Purchase Right. 

(q) “Incentive Stock Option” means an Option intended to qualify as an incentive stock option within the meaning
of Section 422 of the Code and which is designated as an Incentive Stock Option by the Administrator. 
 (r)
“Independent Director” means a Director who is not an Employee of the Company. 
 (s) “Non-Qualified Stock Option” means an Option (or portion thereof) that is not designated as an Incentive Stock Option by the Administrator, or which is designated as an Incentive Stock Option by the
Administrator but fails to qualify as an incentive stock option within the meaning of Section 422 of the Code. 
 (t)
“Officer” means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 

(u) “Option” means a stock option granted pursuant to the Plan. 

(v) “Option Agreement” means a written agreement between the Company and a Holder evidencing the terms and
conditions of an individual Option grant. The Option Agreement is subject to the terms and conditions of the Plan. 
 (w)
“Parent” means any corporation (or other entity), whether now or hereafter existing (other than the Company), in an unbroken chain of corporations (or other entities) ending with the Company if each of the corporations
(or other entities) other than the last corporation (or other entity) in the unbroken chain owns stock (or other equity interests) possessing more than fifty percent (50%) of the total combined voting power of all classes of stock (or other equity
interests) in one of the other corporations (or other entities) in such chain. 
 (x) “Plan” means the
Principia Biopharma Inc. Amended and Restated 2008 Equity Incentive Plan. 
 (y) “Public Trading Date” means
the first date upon which Common Stock of the Company is listed (or approved for listing) upon notice of issuance on any securities exchange or designated (or approved for designation) upon notice of issuance as a national market security on an
interdealer quotation system. 
 (z) “Restricted Stock” means Shares acquired pursuant to the exercise of an
unvested Option in accordance with Section 10(h) below or pursuant to a Stock Purchase Right granted under Section 12 below. 

  
 4. 

 (aa) “Restricted Stock Purchase Agreement” means a written
agreement between the Company and a Holder evidencing the terms and conditions of the Holder’s purchase of Restricted Stock pursuant to the exercise of an unvested Option in accordance with Section 10(h) below or a Stock Purchase Right
granted under Section 12 below. 
 (bb) “Rule 16b-3” means that
certain Rule 16b-3 under the Exchange Act, as such Rule may be amended from time to time. 
 (cc)
“Section 16(b)” means Section 16(b) of the Exchange Act, as such Section may be amended from time to time. 

(dd) “Securities Act” means the Securities Act of 1933, as amended, or any successor statute or statutes
thereto. Reference to any particular Securities Act section shall include any successor section. 
 (ee) “Service
Provider” means an Employee, Director or Consultant. 
 (ff) “Share” means a share of Common
Stock, as adjusted in accordance with Section 13 below. 
 (gg) “Stock Purchase Right” means a right to
purchase Common Stock pursuant to Section 12 below. 
 (hh) “Subsidiary” means any corporation (or other
entity), whether now or hereafter existing (other than the Company), in an unbroken chain of corporations (or other entities) beginning with the Company if each of the corporations (or other entities) other than the last corporation (or other
entity) in the unbroken chain owns stock possessing more than fifty percent (50%) of the total combined voting power of all classes of stock in one of the other corporations (or other entities) in such chain. 

3. Stock Subject to the Plan. Subject to the provisions of Section 13 hereof, the shares of stock subject to Options or Stock
Purchase Rights shall be Common Stock. Subject to the provisions of Section 13 hereof, the maximum aggregate number of Shares which may be issued upon exercise of such Options or Stock Purchase Rights is Twenty-Six Million Five Hundred
Forty-Two Thousand Four Hundred Eighty-Three (26,542,483) Shares. Shares issued upon exercise of Options or Stock Purchase Rights may be authorized but unissued, or reacquired Common Stock. If an Option or Stock Purchase Right expires or becomes
unexercisable without having been exercised in full, the unpurchased Shares which were subject thereto shall become available for future grant or sale under the Plan (unless the Plan has terminated). Shares which are delivered by the Holder or
withheld by the Company upon the exercise of an Option or Stock Purchase Right under the Plan, in payment of the exercise price thereof or tax withholding thereon, may again be optioned, granted or awarded hereunder, subject to the limitations of
this Section 3. If Shares of Restricted Stock are repurchased by the Company at their original purchase price, such Shares shall become available for future grant under the Plan (unless the Plan has terminated). Notwithstanding the provisions
of this Section 3, no Shares may again be optioned, granted or awarded if such action would cause an Incentive Stock Option to fail to qualify as an Incentive Stock Option under Code Section 422. 

  
 5. 

 4. Administration of the Plan. 

(a) Administrator. Unless and until the Board delegates administration to a Committee as set forth below, the Plan shall be administered
by the Board. The Board may delegate administration of the Plan to a Committee or Committees of one or more members of the Board, and the term “Committee” shall apply to any person or persons to whom such authority has been
delegated. If administration is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore possessed by the Board, including the power to delegate to a subcommittee any of the
administrative powers the Committee is authorized to exercise (and references in the Plan to the Board shall thereafter be to the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as
may be adopted from time to time by the Board. Notwithstanding the foregoing, however, unless otherwise determined by the Board, from and after the Public Trading Date, a Committee of the Board shall administer the Plan and the Committee shall
consist solely of two or more Independent Directors each of whom is an “outside director,” within the meaning of Section 162(m) of the Code, a “non-employee director” within the
meaning of Rule 16b-3, and qualifies as “independent” within the meaning of any applicable stock exchange listing requirements. Members of the Committee shall also satisfy any other legal
requirements applicable to membership on the Committee, including requirements under the Sarbanes-Oxley Act of 2002 and other Applicable Laws. Within the scope of such authority, the Board or the Committee may (i) delegate to a committee of one
or more members of the Board who are not Independent Directors the authority to grant awards under the Plan to eligible persons who are either (1) not then “covered employees,” within the meaning of Section 162(m) of the Code and
are not expected to be “covered employees” at the time of recognition of income resulting from such award or (2) not persons with respect to whom the Company wishes to comely with Section 162(m) of the Code and/or
(ii) delegate to a committee of one or more members of the Board who are not “non-employee directors,” within the meaning of Rule 16b-3, the authority to
grant awards under the Plan to eligible persons who are not then subject to Section 16 of the Exchange Act. The Board may abolish the Committee at any time and revest in the Board the administration of the Plan. Appointment of Committee members
shall be effective upon acceptance of appointment. Committee members may resign at any time by delivering written notice to the Board. Vacancies in the Committee may only be filled by the Board. 

(b) Powers of the Administrator. Subject to the provisions of the Plan and the specific duties delegated by the Board to such Committee,
and subject to the approval of any relevant authorities, the Administrator shall have the authority in its sole discretion: 
 (i) to
determine the Fair Market Value; 
 (ii) to select the Service Providers to whom Options and Stock Purchase Rights may from time to
time be granted hereunder; 
 (iii) to determine the number of Shares to be covered by each such award granted hereunder; 

(iv) to approve forms of agreement for use under the Plan; 

  
 6. 

 (v) to determine the terms and conditions of any Option or Stock Purchase Right granted
hereunder (such terms and conditions include, but are not limited to, the exercise price, the time or times when Options or Stock Purchase Rights may vest or be exercised (which may be based on performance criteria), any vesting acceleration or
waiver of forfeiture restrictions, and any restriction or limitation regarding any Option or Stock Purchase Right or the Common Stock relating thereto, based in each case on such factors as the Administrator, in its sole discretion, shall
determine); 
 (vi) to determine whether to offer to buyout a previously granted Option as provided in Section 10(i) hereof and
to determine the terms and conditions of such offer and buyout (including whether payment is to be made in cash or Shares); 
 (vii)
to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans established for the purpose of qualifying for preferred tax treatment under
foreign tax laws; 
 (viii) to allow Holders to satisfy withholding tax obligations by electing to have the Company withhold from the
Shares to be issued upon exercise of an Option or Stock Purchase Right that number of Shares having a Fair Market Value equal to the minimum amount required to be withheld based on the statutory withholding rates for federal and state tax purposes
that apply to supplemental taxable income. The Fair Market Value of the Shares to be withheld shall be determined on the date that the amount of tax to be withheld is to be determined. All elections by Holders to have Shares withheld for this
purpose shall be made in such form and under such conditions as the Administrator may deem necessary or advisable; 
 (ix) to amend
the Plan or any Option or Stock Purchase Right granted under the Plan as provided in Section 15 hereof; and 
 (x) to construe
and interpret the terms of the Plan and awards granted pursuant to the Plan and to exercise such powers and perform such acts as the Administrator deems necessary or desirable to promote the best interests of the Company which are not in conflict
with the provisions of the Plan. 
 (c) Effect of Administrator’s Decision. All decisions, determinations and interpretations of
the Administrator shall be final and binding on all Holders. 
 5. Eligibility. Non-Qualified
Stock Options and Stock Purchase Rights may be granted to Service Providers. Incentive Stock Options may be granted only to Employees of the Company (or a “parent corporation” or “subsidiary corporation” thereof within the
meaning of Code Sections 424(e) or 424(f), respectively). If otherwise eligible, a Service Provider who has been granted an Option or Stock Purchase Right may be granted additional Options or Stock Purchase Rights. 

  
 7. 

 6. Limitations. 

(a) Each Option shall be designated by the Administrator in the Option Agreement as either an Incentive Stock Option or a Non-Qualified Stock Option. However, notwithstanding such designations, to the extent that the aggregate Fair Market Value of Shares subject to a Holder’s Incentive Stock Options and other incentive stock
options granted by the Company (or a “parent corporation” or “subsidiary corporation” thereof within the meaning of Code Sections 424(e) or 424(f), respectively), which become exercisable for the first time during any calendar
year (under all plans of the Company or any such parent or subsidiary) exceeds $100,000, such excess Options or other options shall be treated as Non-Qualified Stock Options. If the Code is amended to provide
for a different limitation from that set forth in the preceding sentence, such different limitation shall be deemed incorporated herein effective as of the date and with respect to such Options as required or permitted by such amendment to the Code.

 For purposes of this Section 6(a), Incentive Stock Options shall be taken into account in the order in which they were granted, and
the Fair Market Value of the Shares shall be determined as of the time of grant. 
 (b) Neither the Plan, any Option nor any Stock
Purchase Right shall confer upon a Holder any right with respect to continuing the Holder’s employment or consulting relationship with the Company, nor shall they interfere in any way with the Holder’s right or the Company’s right to
terminate such employment or consulting relationship at any time, with or without cause. 
 (c) No Service Provider shall be granted,
in any calendar year, Options or Stock Purchase Rights to purchase more than One Million (1,000,000) Shares; provided, however, that the foregoing limitation shall not apply prior to the Public Trading Date and, following the Public Trading
Date, the foregoing limitation shall not apply until the earliest of: (i) the first material modification of the Plan (including any increase in the number of shares reserved for issuance under the Plan in accordance with Section 3
hereof); (ii) the issuance of all of the shares of Common Stock reserved for issuance under the Plan; (iii) the expiration of the Plan; (iv) the first meeting of stockholders at which Directors of the Company are to be elected that occurs
after the close of the third calendar year following the calendar year in which occurred the first registration of an equity security of the Company under Section 12 of the Exchange Act; or (v) such other date required by
Section 162(m) of the Code and the rules and regulations promulgated thereunder. The foregoing limitation shall be adjusted proportionately in connection with any change in the Company’s capitalization as described in Section 13
hereof. For purposes of this Section 6(c), if an Option is canceled in the same calendar year it was granted (other than in connection with a transaction described in Section 13 hereof), the canceled Option will be counted against the
limit set forth in this Section 6(c). For this purpose, if the exercise price of an Option is reduced, the transaction shall be treated as a cancellation of the Option and the grant of a new Option. 

7. Term of Plan. The Plan shall become effective upon its initial adoption by the Board and shall continue in effect until it is
terminated under Section 15 hereof No Options or Stock Purchase Rights may be issued under the Plan after the tenth (10th) anniversary of the earlier of (a) the date upon which the Plan is adopted by the Board or (b) the date the Plan
is approved by the stockholders. 
 8. Term of Option. The term of each Option shall be stated in the Option Agreement; provided,
however, that the term shall be no more than ten (10) years from the date of grant thereof. In the case of an Incentive Stock Option granted to a Holder who, at the time the Option is granted, owns (or is treated as owning under Code
Section 424) stock representing more than ten percent 

  
 8. 

 
(10%) of the voting power of all classes of stock of the Company (or a “parent corporation” or “subsidiary corporation” thereof within the meaning of Code Sections 424(e) or
424(f), respectively), the term of the Option shall be five (5) years from the date of grant or such shorter term as may be provided in the Option Agreement. 

9. Option Exercise Price and Consideration. 

(a) Except as provided in Section 13 hereof; the per share exercise price for the Shares to be issued upon exercise of an Option
shall be such price as is determined by the Administrator, but shall be subject to the following: 
 (i) In the case of an Incentive
Stock Option 
 (A) granted to an Employee who, at the time of grant of such Option, owns (or is treated as owning under Code
Section 424) stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company (or a “parent corporation” or “subsidiary corporation” thereof within the meaning of Code Sections 424(e)
or 424(f), respectively), the per Share exercise price shall be no less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant. 

(B) granted to any other Employee, the per Share exercise price shall be no less than one hundred percent (100%) of the Fair Market
Value per Share on the date of grant. 
 (ii) In the case of a Non-Qualified Stock Option,
the per Share exercise price shall be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. 

(iii) Notwithstanding the foregoing, an Option may be granted with a per Share exercise price other than as required above if such
Option is granted as an assumption of or in substitution for another option in connection with a merger or other corporate transaction. 

(b) The consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be
determined by the Administrator (and, in the case of an Incentive Stock Option, shall be determined at the time of grant). Such consideration may consist of (1) cash, (2) check, (3) with the consent of the Administrator, a full recourse
promissory note bearing interest (at no less than such rate as is a market rate of interest and which then precludes the imputation of interest under the Code), payable upon such terms as may be prescribed by the Administrator, and structured to
comply with Applicable Laws, (4) with the consent of the Administrator, other Shares which have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option shall be exercised,
(5) with the consent of the Administrator, surrendered Shares then issuable upon exercise of the Option having a Fair Market Value on the date of exercise equal to the aggregate exercise price of the Option or exercised portion thereof
(6) with the consent of the Administrator, property of any kind which constitutes good and valuable consideration, (7) with the consent of the Administrator, delivery of a notice that the Holder has placed a market sell order with a broker
with respect to Shares then issuable upon exercise of the Options and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option exercise price, provided, that
payment of such proceeds is then made to the Company upon settlement of such sale, or (8) with the consent of the Administrator, any combination of the foregoing methods of payment. 

  
 9. 

 10. Exercise of Option. 

(a) Vesting; Fractional Exercises. Except as provided in Section 13 hereof, Options granted hereunder shall be vested and
exercisable according to the terms hereof at such times and under such conditions as determined by the Administrator and set forth in the Option Agreement. An Option may not be exercised for a fraction of a Share. 

(b) Deliveries upon Exercise. All or a portion of an exercisable Option shall be deemed exercised upon delivery of all of the following
to the Secretary of the Company, his or her office or such other authorized representative of the Company: 
 (i) A written or
electronic notice complying with the applicable rules established by the Administrator stating that the Option, or a portion thereof, is exercised. The notice shall be signed by the Holder or other person then entitled to exercise the Option or such
portion of the Option; 
 (ii) Such representations and documents as the Administrator, in its sole discretion, deems necessary or
advisable to effect compliance with Applicable Laws. The Administrator may, in its sole discretion, also take whatever additional actions it deems appropriate to effect such compliance, including, without limitation, placing legends on share
certificates and issuing stop transfer notices to agents and registrars; 
 (iii) In the case of Options granted after
February 10, 2011, a counterpart signature page, executed as a Common Holder, to that certain Voting Agreement by and among the Company and certain stockholders of the Company dated as of February 10, 2011, as may be amended or amended and
restated from time to time, or any successor agreement thereto (the “Voting Agreement”), and if requested by the Administrator, a counterpart signature page, executed as a Common Holder, to that certain First Refusal and Co-Sale Agreement by and among the Company and certain stockholders of the Company dated as of February 10, 2011, as may be amended or amended and restated from time to time, or any successor agreement thereto
(together with the Voting Agreement, the “Financing Agreements”), signed by the Holder or other person then entitled to exercise the Option or such portion of the Option. By executing a counterpart signature page to the
Financing Agreements, the Holder or other person then entitled to exercise the Option or such portion of the Option shall be a party to, and be bound by the terms of, the Financing Agreements; 

(iv) Upon the exercise of all or a portion of an unvested Option pursuant to Section 10(h) hereof, a Restricted Stock Purchase
Agreement in a form determined by the Administrator and signed by the Holder or other person then entitled to exercise the Option or such portion of the Option; and 

(v) In the event that the Option shall be exercised pursuant to Section 10(f) hereof by any person or persons other than the
Holder, appropriate proof of the right of such person or persons to exercise the Option. 

  
 10. 

 (c) Conditions to Delivery of Share Certificates. The Company shall not be required to
issue or deliver any certificate or certificates for Shares purchased upon the exercise of any Option or portion thereof prior to fulfillment of all of the following conditions: 

(i) The admission of such Shares to listing on all stock exchanges on which such class of stock is then listed; 

(ii) The completion of any registration or other qualification of such Shares under any state or federal law, or under the rulings or
regulations of the Securities and Exchange Commission or any other governmental regulatory body which the Administrator shall, in its sole discretion, deem necessary or advisable; 

(iii) The obtaining of any approval or other clearance from any state or federal governmental agency which the Administrator shall, in
its sole discretion, determine to be necessary or advisable; 
 (iv) The lapse of such reasonable period of time following the
exercise of the Option as the Administrator may establish from time to time for reasons of administrative convenience; and 
 (v) The
receipt by the Company of full payment for such Shares, including payment of any applicable withholding tax, which in the sole discretion of the Administrator may be in the form of consideration used by the Holder to pay for such Shares under
Section 9(b) hereof 
 (d) Termination of Relationship as a Service Provider. If a Holder ceases to be a Service Provider other
than by reason of the Holder’s Disability or death, such Holder may exercise his or her Option within such period of time as is specified in the Option Agreement to the extent that the Option is vested on the date of termination; provided,
however, that, prior to the Public Trading Date, to the extent required by Applicable Law, such period of time shall not be less than thirty (30) days (but in no event later than the expiration of the term of the Option as set forth in the
Option Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for three (3) months following the Holder’s termination. If, on the date of termination, the Holder is not vested as to his
or her entire Option, the Shares covered by the unvested portion of the Option immediately cease to be issuable under the Option and shall again become available for issuance under the Plan. If, after termination, the Holder does not exercise his or
her Option within the time period specified, herein, the Option shall terminate, and the Shares covered by such Option shall again become available for issuance under the Plan. 

(e) Disability of Holder. If a Holder ceases to be a Service Provider as a result of the Holder’s Disability, the Holder may
exercise his or her Option within such period of time as is specified in the Option Agreement to the extent the Option is vested on the date of termination; provided, however, that prior to the Public Trading Date, to the extent required by
Applicable Law, such period of time shall not be less than six (6) months (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option Agreement,
the Option shall remain exercisable for twelve (12) months following the Holder’s termination. If, on the date of termination, the Holder is not vested as to 

  
 11. 

 
his or her entire Option, the Shares covered by the unvested portion of the Option shall immediately cease to be issuable under the Option and shall again become available for issuance under the
Plan. If, after termination, the Holder does not exercise his or her Option within the time specified, herein, the Option shall terminate, and the Shares covered by such Option shall again become available for issuance under the Plan. 

(f) Death of Holder. If a Holder dies while a Service Provider, the Option may be exercised within such period of time as is specified
in the Option Agreement; provided, however, that prior to the Public Trading Date, to the extent required by Applicable Law, such period of time shall not be less than six (6) months (but in no event later than the expiration of the term
of such Option as set forth in the Option Agreement), by the Holder’s estate or by a person who acquires the right to exercise the Option by bequest or inheritance, but only to the extent that the Option is vested on the date of death. In the
absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the Holder’s termination. If, at the time of death, the Holder is not vested as to his or her entire Option, the
Shares covered by the unvested portion of the Option shall immediately cease to be issuable under the Option and shall again become available for issuance under the Plan. The Option may be exercised by the executor or administrator of the
Holder’s estate or, if none, by the person(s) entitled to exercise the Option under the Holder’s will or the laws of descent or distribution. If the Option is not so exercised within the time specified, herein, the Option shall terminate,
and the Shares covered by such Option shall again become available for issuance under the Plan. 
 (g) Regulatory Extension. A
Holder’s Option Agreement may provide that if the exercise of the Option following the termination of the Holder’s status as a Service Provider would be prohibited at any time solely because the issuance of shares would violate the
registration requirements under the Securities Act, then the Option shall terminate on the earlier of (in the expiration of the term of the Option set forth in Section 8 hereof or (ii) the expiration of a period of three (3) months
after the termination of the Holder’s status as a Service Provider during which the exercise of the Option would not be in violation of such registration requirements. 

(h) Early Exercisability. The Administrator may provide in the terms of a Holder’s Option Agreement that the Holder may, at any
time before the Holder’s status as a Service Provider terminates, exercise the Option in whole or in part prior to the full vesting of the Option; provided, however, that subject to Section 19 hereof, Shares acquired upon exercise
of an Option which has not fully vested may be subject to any forfeiture, transfer or other restrictions as the Administrator may determine in its sole discretion. 

(i) Buyout Provisions. The Administrator may at any time offer to buyout for a payment in cash or Shares, an Option previously granted,
based on such terms and conditions as the Administrator shall establish and communicate to the Holder at the time that such offer is made. 

11. Non-Transferability of Options and Stock Purchase Rights. Options and Stock Purchase Rights
may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Holder, only by the Holder. 

  
 12. 

 12. Stock Purchase Rights. 

(a) Rights to Purchase. Stock Purchase Rights may be issued either alone, in addition to, or in tandem with Options granted under the
Plan and/or cash awards made outside of the Plan. After the Administrator determines that it will offer Stock Purchase Rights under the Plan, it shall advise the offeree in writing of the terms, conditions and restrictions related to the offer,
including the number of Shares that such person shall be entitled to purchase, the price to be paid, and the time within which such person must accept such offer. The offer shall be accepted by execution of a Restricted Stock Purchase Agreement in
the form determined by the Administrator. 
 (b) Repurchase Right. Unless the Administrator determines otherwise, the Restricted Stock
Purchase Agreement shall grant the Company the right to repurchase Shares acquired upon exercise of a Stock Purchase Right upon the termination of the purchaser’s status as a Service Provider for any reason. Subject to Section 19 hereof,
the purchase price for Shares repurchased by the Company pursuant to such repurchase right and the rate at which such repurchase right shall lapse shall be determined by the Administrator in its sole discretion, and shall be set forth in the
Restricted Stock Purchase Agreement. 
 (c) Other Provisions. The Restricted Stock Purchase Agreement shall contain such other terms,
provisions and conditions not inconsistent with the Plan as may be determined by the Administrator in its sole discretion. 
 (d) Rights
as a Stockholder. Once the Stock Purchase Right is exercised, the purchaser shall have rights equivalent to those of a stockholder and shall be a stockholder when his or her purchase is entered upon the records of the duly authorized transfer
agent of the Company. No adjustment shall be made for a dividend or other right for which the record date is prior to the date the Stock Purchase Right is exercised, except as provided in Section 13 hereof. 

13. Adjustments upon Changes in Capitalization, Merger or Asset Sale. 

(a) In the event that the Administrator determines that other than an Equity Restructuring any dividend or other distribution (whether
in the form of cash, Common Stock, other securities, or other property), reorganization, merger, consolidation, combination, repurchase, liquidation, dissolution, or sale, transfer, exchange or other disposition of all or substantially all of the
assets of the Company, or exchange of Common Stock or other securities of the Company, issuance of warrants or other rights to purchase Common Stock or other securities of the Company, or other similar corporate transaction or event, in the
Administrator’s sole discretion, affects the Common Stock such that an adjustment is determined by the Administrator to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended by the Company to
be made available under the Plan or with respect to any Option, Stock Purchase Right or Restricted Stock, then the Administrator shall, in such manner as it may deem equitable, adjust any or all of: 

(i) the number and kind of shares of Common Stock (or other securities or property) with respect to which Options or Stock Purchase
Rights may be granted or awarded (including, but not limited to, adjustments of the limitations in Section 3 hereof on the maximum number and kind of shares which may be issued, and adjustments of the maximum number of Shares that may be
purchased by any Holder in any calendar year pursuant to Section 6(c) hereof); 

  
 13. 

 (ii) the number and kind of shares of Common Stock (or other securities or property)
subject to outstanding Options, Stock Purchase Rights or Restricted Stock; and 
 (iii) the grant or exercise price with respect to
any Option or Stock Purchase Right. 
 (b) In the event of any transaction or event described in Section 13(a) hereof, the
Administrator, in its sole discretion, and on such terms and conditions as it deems appropriate, either by the terms of the Option, Stock Purchase Right or Restricted Stock or by action taken prior to the occurrence of such transaction or event and
either automatically or upon the Holder’s request, is hereby authorized to take any one or more of the following actions whenever the Administrator determines that such action is appropriate in order to prevent dilution or enlargement of the
benefits or potential benefits intended by the Company to be made available under the Plan or with respect to any Option, Stock Purchase Right or Restricted Stock gamed or issued under the Plan or to facilitate such transaction or event: 

(i) To provide for either the purchase of any such Option, Stock Purchase Right or Restricted Stock for an amount of cash equal to the
amount that could have been obtained upon the exercise of such Option or Stock Purchase Right or realization of the Holder’s rights had such Option, Stock Purchase Right or Restricted Stock been currently exercisable or payable or fully vested
or the replacement of such Option, Stock Purchase Right or Restricted Stock with other rights or property selected by the Administrator in its sole discretion; 

(ii) To provide that such Option or Stock Purchase Right shall be exercisable as to all shares covered thereby, notwithstanding
anything to the contrary in the Plan or the provisions of such Option or Stock Purchase Right; 
 (iii) To provide that such Option,
Stock Purchase Right or Restricted Stock be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall be substituted for by similar options, rights or awards covering the stock of the successor or survivor
corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices; 
 (iv)
To make adjustments in the number and type of shares of Common Stock (or other securities or property) subject to outstanding Options and Stock Purchase Rights, and/or in the terms and conditions of (including the grant or exercise price), and
the criteria included in, outstanding Options, Stock Purchase Rights or Restricted Stock or Options, Stock Purchase Rights or Restricted Stock which may be granted in the future; and/or 

(v) To provide that immediately upon the consummation of such event, such Option or Stock Purchase Right shall not be exercisable and
shall terminate, unless the Administrator determines, in its sole discretion, that for a specified period of time prior to such event, such Option or Stock Purchase Right shall be exercisable as to all Shares covered thereby, and the restrictions
imposed under an Option Agreement or Restricted Stock Purchase Agreement upon some or all Shares may be terminated and, in the case of Restricted Stock, some or all shares of such Restricted Stock may cease to be subject to repurchase,
notwithstanding anything to the contrary in the Plan or the provisions of such Option, Stock Purchase Right or Restricted Stock Purchase Agreement. 

  
 14. 

 (c) In connection with the occurrence of any Equity Restructuring, and notwithstanding
anything to the contrary in Section 13(a) and 13(b) hereof: 
 (i) The number and type of securities subject to each outstanding
Option or Stock Purchase Right and the exercise price or grant price thereof, if applicable, will be proportionately adjusted. The adjustments provided under this Section 13(c)(i) shall be nondiscretionary and shall be final and binding on the
affected Holder and the Company. 
 (ii) The Administrator shall make such proportionate adjustments, if any, as the Administrator in
its discretion may deem appropriate to reflect such Equity Restructuring with respect to the aggregate number and kind of shares that may be issued under the Plan (including, but not limited to, adjustments of the limitations in Section 3
hereof). 
 (d) If the Company undergoes an Acquisition, then any surviving corporation or entity or acquiring corporation or entity,
or affiliate of such corporation or entity, may assume any Options or Stock Purchase Rights outstanding under the Plan or may substitute similar stock awards (including an award to acquire the same consideration paid to the stockholders in the
transaction described in this Section 13(d)) for those outstanding under the Plan. In the event any surviving corporation or entity or acquiring corporation or entity in an Acquisition, or affiliate of such corporation or entity, does not
assume such Options or Stock Purchase Rights or does not substitute similar stock awards for those outstanding under the Plan, then such Options and Stock Purchase Rights shall be terminated if not exercised prior to the closing of the Acquisition,
unless, with respect to Options or Stock Purchase Rights held by participants in the Plan whose status as a Service Provider has not terminated prior to such event, the Administrator deter wines, in its sole discretion, that the vesting of such
Options or Stock Purchase Rights (and, if applicable, the time during which such awards may be exercised) shall be accelerated and made fully exercisable and all restrictions thereon shall lapse prior to the closing of the Acquisition (and the
Options or Stock Purchase Rights terminated if not exercised prior to the closing of such Acquisition). 
 (e) Subject to
Section 3 hereof, the Administrator may, in its sole discretion, include such further provisions and limitations in any Option, Stock Purchase Right, Restricted Stock Purchase Agreement or certificate, as it may deem equitable and in the best
interests of the Company. 
 (f) The existence of the Plan, any Option Agreement or Restricted Stock Purchase Agreement and the
Options or Stock Purchase Rights granted hereunder shall not affect or restrict in any way the right or power of the Company or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other change in
the Company’s capital structure or its business, any merger or consolidation of the Company, any issue of stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights are
superior to or affect the Common Stock or the rights thereof or which are convertible into or exchangeable for Common Stock, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or
any other corporate act or proceeding, whether of a similar character or otherwise. 

  
 15. 

 14. Time of Granting Options and Stock Purchase Rights. The date of grant of an Option or
Stock Purchase Right shall, for all purposes, be the date on which the Administrator makes the determination granting such Option or Stock Purchase Right, or such other date as is determined by the Administrator consistent with applicable legal
requirements. Notice of the determination shall be given to each Service Provider to whom an Option or Stock Purchase Right is so granted within a reasonable time after the date of such grant. 

15. Amendment and Termination of the Plan. 

(a) Amendment and Termination. Subject to the requirements of subsection (c), the Board may at any time wholly or partially amend,
alter, suspend or terminate the Plan. However, without approval of the Company’s stockholders given within twelve (12) months before or after the action by the Board, no action of the Board may, except as provided in Section 13
hereof, increase the limits imposed in Section 3 hereof on the maximum number of Shares which may be issued under the Plan or extend the term of the Plan under Section 7 hereof. 

(b) Stockholder Approval. The Board shall obtain stockholder approval of any Plan amendment to the extent necessary and desirable to
comply with Applicable Laws. 
 (c) Effect of Amendment or Termination. No amendment, alteration, suspension or termination of the
Plan or any Option or Stock Purchase Right shall impair the rights of any Holder, unless mutually agreed otherwise between the Holder and the Administrator, which agreement must be in writing and signed by the Holder and the Company. Termination of
the Plan shall not affect the Administrator’s ability to exercise the powers granted to it hereunder with respect to Options, Stock Purchase Rights or Restricted Stock granted or awarded under the Plan prior to the date of such termination.

 16. Stockholder Approval. The Plan will be submitted for the approval of the Company’s stockholders within twelve
(12) months after the date of the Board’s initial adoption of the Plan. Options or Stock Purchase Rights may be granted prior to such stockholder approval, provided that such Options and Stock Purchase Rights shall not be exercisable,
shall not vest and the restrictions thereon shall not lapse prior to the time when the Plan is approved by the stockholders, and provided further that if such approval has not been obtained at the end of said twelve-month period, all Options and
Stock Purchase Rights previously granted under the Plan shall thereupon be canceled and become null and void. 
 17. Inability to Obtain
Authority. The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall
relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. 

18. Reservation of Shares. The Company, during the term of the Plan, shall at all times reserve and keep available such number of Shares
as shall be sufficient to satisfy the requirements of the Plan. 

  
 16. 

 19. Repurchase Provisions. The Administrator in its sole discretion may provide that the
Company may repurchase Shares acquired upon exercise of an Option or Stock Purchase Right upon the occurrence of certain specified events, including, without limitation, a Holder’s termination as a Service Provider, divorce, bankruptcy or
insolvency; provided, however, that any such repurchase right shall be set forth in the applicable Option Agreement or Restricted Stock Purchase Agreement or in another agreement referred to in such agreement. 

20. Rules Particular To Specific Countries. 

(a) Generally. To the extent required by the Company, each Holder agrees that he or she shall enter into an election with the Company or
a Subsidiary (in a form approved by the Company) under which any Tax Liability (as defined below) including, but not limited to, National Insurance Contributions (“NICs”) and any Fringe Benefit Tax
(“FBT”), is transferred to and met by the Plan participant. For purposes of this Section 20, Tax Liability shall mean any and all liability under non-U.S. applicable laws, rules or
regulations, from any income tax, the Company’s (or a Subsidiary’s) NICs, FBT or similar liability and the Service Provider’s NICs, FBT or similar non- U.S. law liability that are attributable
to: (A) the grant, vesting or exercise of or any other benefit derived by the Plan participant from an Option, Stock Purchase Right or Restricted Stock; (B) the acquisition by the Plan participant of the Shares on exercise of an Option or
the acquisition by the Plan participant of the Shares pursuant to a Stock Purchase Right; or (C) the disposal of any Shares acquired by the Plan participant pursuant to an Option or a Stock Purchase Right granted under the Plan. 

(b) Addendum. Notwithstanding anything herein to the contrary, the terms and conditions of the Plan with respect to Service Providers
who are tax residents of a particular country other than the United States may be subject to an addendum to the Plan in the form of an Appendix. To the extent that the terms and conditions set forth in an Appendix conflict with any provisions of the
Plan, the provisions of the Appendix shall govern. The adoption of any such Appendix shall be pursuant to Section 15 above. 
 21.
Investment Intent. The Company may require a Plan participant, as a condition of exercising or acquiring stock under any Option or Stock Purchase Right, (i) to give written assurances satisfactory to the Company as to the participant’s
knowledge and experience in financial and business matters and/or to employ a purchaser representative reasonably satisfactory to the Company who is knowledgeable and experienced in financial and business matters and that he or she is capable of
evaluating, alone or together with the purchaser representative, the merits and risks of exercising the Option or Stock Purchase Right; and (ii) to give written assurances satisfactory to the Company stating that the participant is acquiring
the stock subject to the Option or Stock Purchase Right for the participant’s own account and not with any present intention of selling or otherwise distributing the stock. The foregoing requirements, and any assurances given pursuant to such
requirements, shall be inoperative if (A) the issuance of the shares upon the exercise or acquisition of stock under the applicable Option or Stock Purchase Right has been registered under a then currently effective registration statement under
the Securities Act or (B) as to any particular requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances under then applicable securities laws. The Company may, upon advice of
counsel to the Company, place legends on stock certificates issued under the Plan as such counsel deems necessary or appropriate in order to comply with applicable securities laws, including, but not limited to, legends restricting the transfer of
the stock. 

  
 17. 

 22. Section 409A. To the extent that the Administrator determines that
any Option, Stock Purchase Right or Restricted Stock granted or awarded under the Plan is subject to Section 409A of the Code, the agreement evidencing such Option, Stock Purchase Right or Restricted Stock shall incorporate the terms and
conditions required by Section 409A of the Code. To the extent applicable, the Plan and the agreement evidencing such option, Stock Purchase Right or Restricted Stock shall be interpreted in accordance with Section 409A of the Code and the
Department of Treasury regulations and other interpretive guidance issued thereunder. Notwithstanding any provision of the Plan to the contrary, in the event that the Administrator determines that any Option, Stock Purchase Right or Restricted Stock
may be subject to Section 409A of the Code and related Department of Treasury regulations and other interpretive guidance issued thereunder, the Administrator may adopt such amendments to the Plan and the applicable agreement or adopt other
policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Administrator determines are necessary or appropriate to (a) exempt the Option, Stock Purchase Right or
Restricted Stock from Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the Option, Stock Purchase Right or Restricted Stock, or (b) comply with the requirements of
Section 409A of the Code and related Department of Treasury regulations and other interpretive guidance thereunder and thereby avoid the application of any penalty taxes under such Section. 

23. Governing Law. The validity and enforceability of the Plan shall be governed by and construed in accordance with the laws of the
State of California without regard to otherwise governing principles of conflicts of law. 

  
 18.

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