Document:

EX-4.2

 Exhibit 4.2 
 EXECUTION VERSION 
 FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 
 JUNE 28, 2012 

 TABLE OF CONTENTS 

 

							
	 	    	 	  	Page	 
		
	 1.       Affirmative Covenants
	  	 	1	  
	 1.1
	    	 Delivery of Financial Statements
	  	 	1	  
	 1.2
	    	 Additional Information
	  	 	2	  
	 1.3
	    	 Accounting
	  	 	2	  
	 1.4
	    	 Insurance
	  	 	3	  
	 1.5
	    	 Proprietary Information and Non-Competition Agreements
	  	 	3	  
	 1.6
	    	 Annual Plan
	  	 	3	  
	 1.7
	    	 Confidentiality
	  	 	3	  
	 1.8
	    	 Termination of Financial Information Rights
	  	 	3	  
	 1.9
	    	 Meetings of the Board of Directors
	  	 	4	  
		
	 2.       Preemptive Right
	  	 	4	  
		
	 3.       Registration
	  	 	5	  
	 3.1
	    	 Definitions
	  	 	5	  
	 3.2
	    	 Incidental Registration
	  	 	6	  
	 3.3
	    	 Demand Registration
	  	 	7	  
	 3.4
	    	 Form S-3 Registration
	  	 	8	  
	 3.5
	    	 Designation of Underwriter
	  	 	8	  
	 3.6
	    	 Expenses
	  	 	8	  
	 3.7
	    	 Deferral of Filing of Registration Statement
	  	 	8	  
	 3.8
	    	 Indemnities
	  	 	9	  
	 3.9
	    	 Obligations of the Company
	  	 	11	  
	 3.10
	    	 Assignment of Registration Rights
	  	 	12	  
	 3.11
	    	 “Market Stand-off” Agreement
	  	 	12	  
	 3.12
	    	 Public Information
	  	 	13	  
		
	 4.       Miscellaneous
	  	 	13	  
	 4.1
	    	 Further Assurances
	  	 	13	  
	 4.2
	    	 Governing Law; Jurisdiction
	  	 	13	  
	 4.3
	    	 Successors and Assigns; Assignment
	  	 	13	  
	 4.4
	    	 Entire Agreement; Amendment and Waiver
	  	 	14	  
	 4.5
	    	 Notices, etc.
	  	 	14	  
	 4.6
	    	 Delays or Omissions
	  	 	15	  
	 4.7
	    	 Severability
	  	 	15	  
	 4.8
	    	 Counterparts
	  	 	15	  
	 4.9
	    	 Aggregation of Shares
	  	 	15	  
	 4.10
	    	 Validity
	  	 	16	  
	 4.11
	    	 Additional Parties
	  	 	16	  

  

					
	SCHEDULES	  	
			
	 Schedule 1
	 	 The Purchasers
	  	
	 Schedule 2
	 	 Previous Investors
	  	

  
 i 

 FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Agreement”) made as of the 28th day of June,
2012, by and among FiftyOne, Inc., a Delaware corporation (the “Company”), the purchasers identified in Schedule 1 attached hereto (each an “Purchaser” and collectively the “Purchasers”)
and the parties identified in Schedule 2 attached hereto (the “Previous Investors;” and the Purchasers and the Previous Investors shall collectively be referred to herein as the “Investors”). Terms used
herein and not otherwise defined shall have the meaning assigned thereto in the Share Purchase Agreement (as defined below). 
 W
I T N E S S E T H : 
 WHEREAS, the Purchasers, the Company and certain other parties entered into the Series E Preferred Stock
Purchase Agreement dated June 28, 2012 (the “Share Purchase Agreement”) for the purchase of shares of the Company’s Series E Convertible Preferred Stock (the “Series E Preferred Stock”); and 

WHEREAS, the Previous Investors are the holders of all of the issued and outstanding Stock of Series A Preferred Stock, the Series B
Preferred Stock, the Series C Preferred Stock, and the Series D Preferred Stock of the Company (the “Series A Preferred Stock”, the “Series B Preferred Stock”, the “Series C Preferred Stock”, and
the “Series D Preferred Stock”, respectively, the Series A Preferred Stock, the Series B Preferred Stock, the Series C Preferred Stock, the Series D Preferred Stock, and the Series E Preferred Stock shall collectively be referred to
herein as the “Preferred Stock”); and 
 WHEREAS, the Previous Investors and certain of the Purchasers are
parties to a certain Third Amended and Restated Investors’ Rights Agreement dated April 30, 2010, as amended (the “Prior Agreement”); and 
 WHEREAS, the parties hereto desire to amend and restate the Prior Agreement to set forth certain matters regarding the ownership of the shares of the Company and to reflect additional stockholders
becoming party hereto. 
 NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties
hereby agree to amend and restate the Prior Agreement to read in its entirety as follows: 
 1. Affirmative
Covenants. 
 1.1 Delivery of Financial Statements. The Company shall deliver to each Investor for as long
as such Investor holds (on an as-converted basis) at least five percent (5%) of the fully diluted capital stock of the Company: 
 1.1.1 As soon as practicable, but 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 as of the end of such
year, and consolidated statements of income and statements of cash flow of the Company for such year, setting forth in each case in comparative form the 

 
figures for the previous fiscal year, all in reasonable detail, United States dollar-denominated, prepared in accordance with United States generally accepted accounting principles
(“GAAP”), audited by a “Big 4” firm of independent certified public accountants, and accompanied by an opinion of such firm which opinion shall state that such balance sheet and statements of income and cash flow have been
prepared in accordance with GAAP applied on a basis consistent with that of the preceding fiscal year, and present fairly and accurately the financial position of the Company as of their date, and that the audit by such accountants in connection
with such financial statements has been made in accordance with generally accepted auditing standards; 
 1.1.2 As soon as
practicable after the end of each quarter of the fiscal year of the Company, but in any event within sixty (60) days after the end of each quarter of the fiscal year of the Company, unaudited consolidated (i) statements of income and cash
flow for such period and for the period commencing at the end of the previous fiscal year and ending with the end of such quarter and (ii) balance sheet of the Company at the end of such quarter, setting forth in each case in comparative form
the figures for the corresponding period of the previous fiscal year, all in reasonable detail, denominated in United States dollars, certified by the vice president of finance or the chief financial officer (or if none, by the chief executive
officer) of the Company, that such financial statements were prepared in accordance with GAAP applied on a basis consistent with that of preceding periods and, except as otherwise stated therein, fairly present the financial position of the Company
as of their date subject to (x) there being no footnotes contained therein and (y) changes resulting from year-end audit adjustments; 
 1.1.3 Copies of all filings made with the Securities and Exchange Commission, if any; and 
 1.1.4 Any other information that such Investor may reasonably request in writing from time to time. 
 1.2 Additional Information. The Company will permit the authorized representatives of each Investor full and free access, upon reasonable advance notice, to any of the properties of the
Company, including its books and records, and to discuss its affairs, finances and accounts with the Company’s management and auditor, provided that the Investors pay the reasonable expenses of the Company in connection with the Investor’s
discussions with the auditor. In addition, the Company will deliver to each Investor: (a) immediately upon the happening of any significant event that, in the opinion of the Company, is likely to have a material impact upon the Company or its
business, a written notification (includes e-mail) of such event; and (b) with reasonable promptness, such other information and data with respect to the Company, as the Investors may from time to time reasonably request. This Section 1.2
shall not be in limitation of any rights which the Investors or the director designated by the Investors may have under applicable law. 
 1.3 Accounting. The Company will maintain and cause each of its Subsidiaries to maintain a system of accounting established and administered such that will enable the Company to have its
auditors prepare annual audited financial statements in accordance with GAAP consistently applied, and will set aside on its books and cause each of its operating Subsidiaries to set aside on its books all such proper reserves as shall be required
for such purpose. For purposes of this Section 1.3, “Subsidiary” means any corporation or entity at least a majority of whose voting securities are at the time owned by the Company, or by one or more of the Company’s
Subsidiaries, or by the Company and one or more Subsidiaries. 

  
 2 

 1.4 Insurance. The Company shall maintain in full force and effect, from
financially sound and reputable insurers (and shall pay all premiums), directors indemnity insurance for acts and omissions of each of the Company’s directors in the aggregate amount of at least $5,000,000 in coverage limits and employment
practices liability insurance in the aggregate amount of at least $3,000,000 in coverage limits, or, in each case, a greater amount as determined by the Board of Directors of the Company (the “Board” or “Board of
Directors”), including the approval of a majority of the directors elected solely by the holders of Preferred Stock. 

1.5 Proprietary Information and Non-Competition Agreements. The Company will not employ, or continue to employ, any person
who will have access to confidential information with respect to the Company and its operations unless such person has executed and delivered a Proprietary Information and Non-Competition Agreement to the satisfaction (as to substance and form) of
the Board of Directors. 
 1.6 Annual Plan. The management of the Company shall establish annually an operating
plan and budget for the Company (the “Annual Plan”), which shall be approved by the Board of Directors. 
 1.7
Confidentiality. The Investors agree that any information obtained pursuant to Sections 1.1 and 1.2 will not be disclosed without the prior written consent of the Company; provided that, in connection with periodic reports to
their shareholders or partners, the Investors may, without first obtaining such written consent, make general statements, not containing technical or other confidential information, regarding the nature and progress of the Company’s business;
and provided further, that the Investors may provide summary information regarding the Company’s financial information in their reports to their respective shareholders or partners, but may not annex to such reports the full financial
information to be provided hereunder by the Company; and provided further, however, that in the event that an Investor is required to disclose such information according to applicable law, such Investor shall exert its reasonable efforts to
disclose such information only to the minimum extent required under applicable law but to the extent that its efforts are unsuccessful, such Investor shall be entitled to disclose such information. 

1.8 Termination of Financial Information Rights. The Company’s obligation to deliver the financial statements and
other information under Sections 1.1 and 1.2 shall terminate and shall be of no further force or effect upon the earlier to occur of: (i) the closing of the Company’s initial firmly underwritten public offering of its Common Stock pursuant
to an effective registration statement under the United States Securities Act of 1933, as amended (the “Securities Act”) or equivalent law of another jurisdiction yielding net proceeds to the Company of at least $20,000,000 at a per
share price of at least US $6.3711 (subject to adjustment in the event of any stock dividend, stock split, combination of shares, reorganization, recapitalization, reclassification or other similar event affecting the Common Stock), or
(ii) with respect to a certain Investor, such time as the shareholdings of such Investor, together with its Affiliates (as defined in Section 5.3 below), in the Company fall below five percent (5%) of the 

  
 3 

 
Company’s fully diluted share capital; provided, however, that the Company’s obligation to deliver the monthly statements required under Sections 1.1.3 above shall
terminate and be of no further force or effect upon the closing of the Company’s initial firmly underwritten public offering of its Common Stock pursuant to an effective registration statement under the Securities Act or equivalent law of
another jurisdiction (an “IPO”). Thereafter, the Company shall deliver to the Investors, and its assignees or transferees, such financial information as the Company from time to time provides to other holders of its shares.

 1.9 Meetings of the Board of Directors. Unless otherwise approved by a majority of the directors elected solely
by the holders of Preferred Stock, which majority shall include one (1) of the directors nominated by Adams Street V, L.P. (which approval may be submitted to the Company by email or facsimile): (i) the Board of Directors shall meet five
times annually; and (ii) meetings of the Board of Directors may be held in person or by telephone. The Company shall reimburse members of the Board of Directors for reasonable travel expenses incurred in participating in such meetings.

 2. Preemptive Right. The Company hereby grants to each holder of issued and outstanding Preferred Stock, for as
long as it holds (on an as-converted basis) at least three percent (3%) of the fully diluted (assuming the conversion of all convertible equity securities and the exercise of any outstanding options and warrants to purchase shares of the
Company) capital stock of the Company (for purposes of this Section, the “Preferred Shareholder”) rights of first refusal to purchase, pro-rata, all (or any part) of New Securities (as defined below) that the Company may, from time
to time, propose to sell and issue. The Preferred Shareholder’s pro rata share shall be the ratio of the number of shares of the Company’s Common Stock on an as converted fully diluted (assuming the conversion of all convertible equity
securities and the exercise of any outstanding options and warrants to purchase shares of the Company) basis then held by the Preferred Shareholder as of the date of the Rights Notice (as defined in Section 2(b)), to the sum of the total number
of outstanding shares of Common Stock as of such date on an as converted fully diluted (assuming the conversion of all convertible equity securities and the exercise of any outstanding options and warrants to purchase shares of the Company) basis.
Each Preferred Shareholder shall have a right of over-allotment such that if any Preferred Shareholder fails to exercise its right hereunder to purchase its pro-rata share of New Securities, the other Preferred Shareholders may purchase the
non-purchasing Preferred Shareholder’s portion pro-rata according to the shareholding ratio between such other Preferred Shareholders within ten (10) days from the date such non-purchasing holder of Preferred Stock fails to exercise its
rights hereunder to purchase its pro-rata share of New Securities. 
 This preemptive right shall be subject to the following provisions:

 (a) “New Securities” shall mean any shares of Common Stock or Preferred Stock of any kind of the Company,
whether now or hereafter authorized, and rights, options, or warrants to purchase said shares of Common Stock or Preferred Stock, and securities of any type whatsoever that are, or may become, convertible into said shares of Common Stock or
Preferred Stock; provided, however, that “New Securities” shall not include the issuance (i) to employees, directors, consultants of shares or options pursuant to a stock purchase/option plan in effect as of the date of
filing of the Amended Certificate or as approved by the Board of Directors, such approval to include a majority of the directors elected solely by the holders of 

  
 4 

 
Preferred Stock; (ii) of securities constituting no more than five percent (5%) of the Company’s issued and outstanding share capital in connection with equipment leases, bank
loans, or secured debt financing; (iii) of shares upon the conversion of any Preferred Stock; (iv) of securities issuable upon the exercise of warrants existing as of the date of the closing of the transactions contemplated by the Share
Purchase Agreement;(v) of shares issued in accordance with the terms of the Share Purchase Agreement, and (vi) of securities representing up to ten percent (10%) of the issued and outstanding share capital of the Company (on a fully
diluted basis) issued to Strategic Investors. As used herein “Strategic Investor” means an individual or business entity which, in connection with the issuance of shares to such individual or entity, enters into a significant
commercial transaction with the Company which is directly related to the Company’s business, or otherwise is of strategic value to the Company, as determined by the Board of Directors including the affirmative vote of a majority of the
directors elected solely by the holders of Preferred Stock. 
 (b) If the Company proposes to issue New Securities, it shall
give the Preferred Shareholders written notice (the “Rights Notice”) of its intention, describing the New Securities, the price, the general terms upon which the Company proposes to issue them, and the number of shares that the
Preferred Shareholder has the right to purchase under this Section 2. Each Preferred Shareholder shall have thirty (30) days from delivery of the Rights Notice to agree to purchase all or any part of its pro-rata share of such New
Securities by giving written notice to the Company setting forth the quantity of New Securities to be purchased. In addition, each Preferred Shareholder shall have the right to purchase out of the pro-rata share of any other stockholder (including,
for this purpose, any permitted transferee of the stockholder) entitled to such rights, to the extent that such other stockholder does not elect to purchase its full pro-rata share, any amount of shares not purchased by such other stockholder, for
the price and on the general terms specified in the Rights Notice. Such additional right of the Preferred Shareholders shall be exercised by giving written notice to the Company within fourteen (14) days of the expiry of the thirty
(30) day period referred to hereinabove. If the stockholders who elect to purchase their full pro-rata shares also elect to purchase in the aggregate more than one hundred percent (100%) of their pro-rata share of New Securities, such New
Securities shall be sold to such stockholders in accordance with their respective pro-rata share, calculated on an as-converted, fully-diluted basis. 
 (c) If the Preferred Shareholders fail to exercise in full the right of first refusal within the period or periods specified in Section 2(b), the Company shall have ninety (90) days after
delivery of the Rights Notice to sell the unsold New Securities at a price and upon general terms no more favorable to the purchasers thereof than specified in the Company’s notice. If the Company has not sold the New Securities within said
ninety (90) day period the Company shall not thereafter issue or sell any New Securities without first offering such securities to the Preferred Shareholders in the manner provided above. 

3. Registration. The following provisions govern the registration of the Company’s securities: 

3.1 Definitions. As used herein, the following terms have the following meanings: 

“Holder” means any holder of outstanding Registrable Shares or shares convertible into Registrable Shares, who
acquired such Registrable Shares or shares convertible into Registrable Shares in a transaction or series or transactions not involving any registered public offering. 

  
 5 

 “Form S-3” means Form S-3 under the Securities Act, as in effect on
the date hereof or any registration form under the Securities Act subsequently adopted by the Securities and Exchange Commission (“SEC”) which permits inclusion or incorporation of substantial information by reference to other
documents filed by the Company with the SEC. 
 “Initiating Holders” means Holders holding at least
fifty-five percent (55%) of the Registrable Shares. 
 “Register,”
“registered” and “registration” refer to a registration effected by filing a registration statement in compliance with the Securities Act and the declaration or ordering by the Commission of
effectiveness of such registration statement, or the equivalent actions under the laws of another jurisdiction. 

“Registrable Shares” means all shares of Common Stock issuable upon conversion of the Preferred Stock; all shares
of Common Stock issued by the Company in respect of such shares and all shares of Common Stock that the Investors may hereafter purchase pursuant to their preemptive rights, rights of first refusal or otherwise; and shares of Common Stock issued on
conversion or exercise of other securities so purchased; provided, however, that (i) any shares of Common Stock registered under an effective registration statement filed pursuant to the Securities Act and disposed of in
accordance with the registration statement covering them, (ii) any shares of Common Stock publicly sold pursuant to Rule 144 under the Securities Act, or (iii) any shares of Common Stock the holder of which holds one percent (1%) or
less of the Company’s outstanding capital stock and such shares can be publicly sold pursuant to Rule 144 under the Securities Act shall not be deemed to be Registrable Shares. 

3.2 Incidental Registration. If the Company at any time proposes to register any of its securities, other than in a demand
registration under Section 3.3 or Section 3.4 of this Agreement, it shall give notice to the Holders of such intention. Upon the written request of any Holder given within twenty (20) days after receipt of any such notice, the Company
shall include in such registration all of the Registrable Shares indicated in such request, so as to permit the disposition of the shares so registered. Notwithstanding the above, if the managing underwriter advises the Company in writing that
marketing factors require a limitation of the number of shares to be underwritten, then shares held by the Holders shall be excluded from such registration to the extent necessary to satisfy such limitation (pro rata to the respective number of
Registrable Shares required by the Holders to be included in the registration). Notwithstanding the above, in the event that the Company decides to allow the participation of holders of shares of Common Stock of the Company in the registration of
its shares, and the managing underwriter advises the Company in writing that marketing factors require a limitation of the number of shares to be underwritten, then the Holders shall be entitled to register an amount of Registrable 

  
 6 

 
Shares equal to one-third of the total amount of shares proposed to be registered by shareholders of the Company (pro rata to the respective number of Registrable Shares required by the Holders
to be included in the registration), and thereafter, the Company will register shares on a pro rata basis among all the Company’s shareholders requesting registration of their shares (pro rata to the respective number of shares required by the
Holders to be included in the registration, on an as converted basis). Notwithstanding the foregoing, in any registration by the Company, other than a demand registration pursuant to Section 3.3 below, the Company shall register first the
Company’s shares, and thereafter the shares of the shareholders of the Company according to the provisions of this Section. 
 3.3 Demand Registration. At any time the Initiating Holders may request in writing that all or part of the Registrable Shares shall be registered for trading on any securities exchange.
Within twenty (20) days after receipt of any such request, the Company shall give written notice of such request to the other Holders and shall include in such registration all Registrable Shares held by all such Holders who wish to participate
in such demand registration and provide the Company with written requests for inclusion therein within fifteen (15) days after the receipt of the Company’s notice. Thereupon, the Company shall use its best efforts to effect the
registration of all Registrable Shares as to which it has received requests for registration for trading on the securities exchange specified in the request for registration; provided, however, that the Company shall not be required to effect any
registration under this Section 3.3 within a period of ninety (90) days following the effective date of a previous registration. Notwithstanding any other provision of this Section 3, if the managing underwriter advises the Holders in
writing that marketing factors require a limitation of the number of shares to be underwritten, then there shall be excluded from such registration and underwriting to the extent necessary to satisfy such limitation, first shares held by
shareholders other than the Holders, then shares which the Company may wish to register for its own account, and thereafter, to the extent necessary, shares held by the Holders (pro rata to the respective number of Registrable Shares requested by
the Holders to be included in the registration); provided, however, that in any event all Registrable Shares must be included in such registration prior to any other shares of the Company, provided, further that the
Registrable Shares shall consist no less than one-third (1/3) of the number of shares to be underwritten. The Company may not cause any other registration of securities for sale for its own account (other than a registration effected solely to
implement an employee benefit plan) to be initiated after a registration requested pursuant to Section 3.3 and to become effective less than ninety (90) days after the effective date of any registration requested pursuant to
Section 3.3. The Company shall not be required to effect more than three (3) registrations under this Section 3.3; provided, however, that such obligation shall be deemed satisfied only when a registration statement
covering all Registrable Shares required to be included in such registration as aforesaid for sale in accordance with the method of disposition specified by the Initiating Holders shall have become effective or if such registration statement has
been withdrawn prior to the consummation of the offering at the request of the participating Holders (other than as a result of a material adverse change in the business or condition, financial or otherwise, of the Company) and, if such method of
disposition is a firm commitment underwritten public offering, all such shares shall have been sold pursuant thereto (not including shares eligible for sale pursuant to the underwriters’ over-allotment option). 

  
 7 

 3.4 Form S-3 Registration. In case the Company shall receive from any Holder
or Holders holding at least five percent (5%) of the Registrable Shares, a written request or requests that the Company effect a registration on Form S-3, and any related qualification or compliance, with respect to Registrable Shares, the
Company will, within twenty (20) days after receipt of any such request, give written notice of the proposed registration, and any related qualification or compliance, to all other Holders, and include in such registration all Registrable
Shares held by all such Holders who wish to participate in such registration and who have provided the Company with written requests for inclusion therein within fifteen (15) days after the receipt of the Company’s notice. Thereupon, the
Company shall effect such registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Holder’s or Holders’ Registrable
Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other Holder or Holders joining in such request as are specified in a written request given within fifteen (15) days after
receipt of such written notice from the Company; provided, however, that the Company shall not be obligated to effect any such registration, qualification or compliance, pursuant to this Section 3.4, (i) if Form S-3 is not
available for such offering by the Holders; (ii) if such registration, qualification or compliance would require the Company to be qualified to do business in a jurisdiction in which it is not qualified to do business, or to execute a general
consent to service of process in a jurisdiction where it has not previously granted general consent to service of process; (iii) after it has effected six (6) registrations under this Section 3.4; or (iv) if the aggregate price
to the public of the shares to be registered is less than $500,000 (five hundred thousand U.S. dollars). 
 3.5
Designation of Underwriter. 
 3.5.1 In the case of any registration effected pursuant to Section 3.4, the
holders who submitted the request for registration, so long as such holders hold at least the majority in nominal value of the Preferred Shares, and so long as they act together as a single class, shall have the right to designate the managing
underwriter(s) in any underwritten offering, provided that such managing underwriter(s) shall be reasonably acceptable to the Company. 
 3.5.2 In the case of any registration initiated by the Company, the Company shall have the right to designate the managing underwriter in any underwritten offering, following consultation with the
Investors. 
 3.6 Expenses. All expenses incurred in connection with any registration under Section 3.2,
Section 3.3 or Section 3.4 shall be borne by the Company; provided, however, that each of the Holders participating in such registration shall pay its pro rata portion of discounts or commissions payable to any underwriter.

 3.7 Deferral of Filing of Registration Statement. Notwithstanding any other provision of this Agreement, the
Company may postpone for ninety (90) days the filing of any registration statement further to a request under this Section 3, if the Board of Directors determines, acting in good faith, that the sale under such registration statement would
be materially detrimental to the Company at such time. 

  
 8 

 3.8 Indemnities. In the event of any registered offering of Ordinary Stock
pursuant to this Section 3: 
 3.8.1 The Company will indemnify and hold harmless, to the fullest extent permitted by law,
any Holder and any underwriter for such Holder, and each person, if any, who controls the Holder or such underwriter, from and against any and all losses, damages, claims, liabilities, joint or several, costs and expenses (including any amounts paid
in any settlement effected with the Company’s consent) to which the Holder or any such underwriter or controlling person may become subject under applicable law or otherwise, insofar as such losses, damages, claims, liabilities (or actions or
proceedings in respect thereof), costs or expenses arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in the registration statement or included in the prospectus, as amended or
supplemented, or (ii) the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances in which they are made, not misleading, and the
Company will reimburse the Holder, such underwriter and each such controlling person of the Holder or the underwriter, promptly upon demand, for any reasonable legal or any other expenses incurred by them in connection with investigating, preparing
to defend or defending against or appearing as a third-party witness in connection with such loss, claim, damage, liability, action or proceeding; provided, however, that the Company will not be liable in any such case to the extent
that any such loss, damage, liability, cost or expense arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished in writing by such Holder, such
underwriter or such controlling persons in writing specifically for inclusion therein; provided, further, that this indemnity shall not be deemed to relieve any underwriter of any of its due diligence obligations; provided,
further, that the indemnity agreement contained in this subsection 3.8.1 shall not apply to amounts paid in settlement of any such claim, loss, damage, liability or action if such settlement is effected without the consent of the Company,
which consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the selling shareholder, the underwriter or any controlling person of the selling
shareholder or the underwriter, and regardless of any sale in connection with such offering by the selling shareholder. Such indemnity shall survive the transfer of securities by a selling shareholder. 

3.8.2 Each Holder participating in a registration hereunder, severally and not jointly, will indemnify and hold harmless the Company,
any underwriter for the Company, and each person, if any, who controls the Company or such underwriter, from and against any and all losses, damages, claims, liabilities, costs or expenses (including any amounts paid in any settlement effected with
the selling shareholder’s consent) to which the Company or any such controlling person and/or any such underwriter may become subject under applicable law or otherwise, insofar as such losses, damages, claims, liabilities (or actions or
proceedings in respect thereof), costs or expenses arise out of or are based on (i) any untrue or alleged untrue statement of any material fact contained in the registration statement or included in the prospectus, as amended or supplemented,
or (ii) the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances in which they were made, not misleading, and each such
Holder will reimburse the Company, any underwriter and each such controlling person of the Company or any underwriter, promptly upon demand, for any reasonable legal or other expenses incurred

  
 9 

 
by them in connection with investigating, preparing to defend or defending against or appearing as a third-party witness in connection with such loss, claim, damage, liability, action or
proceeding; in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was so made in strict conformity with written information furnished by such Holder specifically
for inclusion therein. The foregoing indemnity agreement is subject to the condition that, insofar as it relates to any such untrue statement (or alleged untrue statement) or omission (or alleged omission) made in the preliminary prospectus but
eliminated or remedied in the amended prospectus at the time the registration statement becomes effective or in the final prospectus, such indemnity agreement shall not inure to the benefit of (i) the Company and (ii) any underwriter, if a
copy of the final prospectus was not furnished to the person or entity asserting the loss, liability, claim or damage at or prior to the time such furnishing is required by the Securities Act; provided, further, that this indemnity
shall not be deemed to relieve any underwriter of any of its due diligence obligations; provided, further, that the indemnity agreement contained in this subsection 3.8.2 shall not apply to amounts paid in settlement of any such claim,
loss, damage, liability or action if such settlement is effected without the consent of the Holders, as the case may be, which consent shall not be unreasonably withheld. In no event shall the liability of a Holder exceed the net proceeds from the
offering received by such Holder. 
 3.8.3 Promptly after receipt by an indemnified party pursuant to the provisions of
Sections 3.8.1 or 3.8.2 of notice of the commencement of any action involving the subject matter of the foregoing indemnity provisions, such indemnified party will, if a claim thereof is to be made against the indemnifying party pursuant to the
provisions of said Section 3.8.1 or 3.8.2, promptly notify the indemnifying party of the commencement thereof; but the omission to notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party
otherwise than hereunder. In case such action is brought against any indemnified party and it notifies the indemnifying party of the commencement thereof, the indemnifying party shall have the right to participate in, and, to the extent that it may
wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof with counsel reasonably satisfactory to such indemnified party; provided, however, that if the defendants in any action include both the
indemnified party and the indemnifying party and there is a conflict of interests which would prevent counsel for the indemnifying party from also representing the indemnified party, the indemnified party or parties shall have the right to select
one separate counsel to participate in the defense of such action on behalf of such indemnified party or parties. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying
party will not be liable to such indemnified party pursuant to the provisions of said Sections 3.8.1 or 3.8.2 for any legal or other expense subsequently incurred by such indemnified party in connection with the defense thereof, unless (i) the
indemnified party shall have employed counsel in accordance with the provision of the preceding sentence, (ii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified
party within a reasonable time after the notice of the commencement of the action and within fifteen (15) days after written notice of the indemnified party’s intention to employ separate counsel pursuant to the previous sentence, or
(iii) the indemnifying party has authorized the employment of counsel for the indemnified party at the expense of the indemnifying party. No indemnifying party will 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. 

  
 10 

 3.8.4 If recovery is not available under the foregoing indemnification provisions, for any
reason other than as specified therein, the parties entitled to indemnification by the terms thereof shall be entitled to contribution to liabilities and expenses as more fully set forth in an underwriting agreement to be executed in connection with
such registration. In determining the amount of contribution to which the respective parties are entitled, there shall be considered the parties’ relative knowledge and access to information concerning the matter with respect to which the claim
was asserted, the opportunity to correct and prevent any statement or omission, and any other equitable considerations appropriate under the circumstances. 
 3.9 Obligations of the Company. Whenever required under this Section 3 to effect the registration of any Registrable Shares, the Company shall, as expeditiously as possible: 

3.9.1 prepare and file with the SEC a registration statement with respect to such Registrable Shares and use its best efforts to cause
such registration statement to become effective, and, upon the request of the holders of a majority of the Registrable Shares registered thereunder, keep such registration statement effective for a period of up to nine (9) months or, if sooner,
until the distribution contemplated in the Registration Statement has been completed. 
 3.9.2 prepare and file with the SEC
such amendments and supplements to such registration statement and the prospectus used in connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all
Registrable Shares covered by such registration statement. 
 3.9.3 furnish to the Holders such numbers of copies of a
prospectus, including a preliminary prospectus, in conformity with the requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Shares owned by them.

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

3.9.5 notify each holder of Registrable Shares covered by such registration statement at any time when a prospectus relating thereto is
required to be delivered under the Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact
required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. 
 3.9.6 cause all Registrable Shares registered pursuant hereunder to be listed on each securities exchange on which similar securities issued by the Company are then listed. 

  
 11 

 3.9.7 provide a transfer agent and registrar for all Registrable Shares registered pursuant
hereunder and a CUSIP number for all such Registrable Shares, in each case not later than the effective date of such registration. 
 3.9.8 furnish, at the request of any Holder requesting registration of Registrable Shares pursuant to this Section 3, on the date that such Registrable Shares are delivered to the underwriters for
sale in connection with a registration pursuant to this Section 3, if such securities are being sold through underwriters, or, if such securities are not being sold through underwriters, on the date that the registration statement with respect
to such securities becomes effective, (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public
offering, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Shares and (ii) a letter dated such date, from the independent certified public accountants of the Company, in form and substance as is
customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Shares. 

3.10 Assignment of Registration Rights. Any of the Holders may assign its rights to cause the Company to register
Registrable Shares pursuant to this Section 3 to a transferee of all or any part of its Registrable Shares, provided, that the transferor shall, prior to such transfer, furnish the Company with written notice of the name and address of such
transferee and the securities with respect to which such registration rights are being assigned, and the transferee’s written agreement to be bound by this Agreement. 
 3.11 “Market Stand-off” Agreement. Each Holder and each Investor hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period
commencing on the date of the final prospectus relating to an IPO and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred and eighty (180) days, which period may be extended upon the
request of the managing underwriter, to the extent required by any FINRA rules, for an additional period of up to fifteen (15) days if the Company issues or proposes to issue an earnings or other public release within fifteen (15) days of
the expiration of the one hundred eighty (180) day lockup period (i) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract to sell; grant any option, right, or warrant to
purchase; or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock or (ii) enter into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock
or other securities, in cash, or otherwise. The foregoing provisions in this Section 3.11 shall apply only to the IPO, shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, and shall be applicable to
Holders and Investors only if all officers and directors are subject to the same restrictions and the Company uses commercially reasonable efforts to obtain a similar agreement from all stockholders individually owning more than one percent
(1%) of the Company’s outstanding Common Stock (after giving effect to conversion into Common Stock of all outstanding Preferred Stock). The underwriters in connection with such registration are 

  
 12 

 
intended third-party beneficiaries of this Section 3.11 and shall have the right, power, and authority to enforce the provisions hereof as though they were a party hereto. Each Holder and
each Investor further agrees to execute such agreements as may be reasonably requested by the underwriters in connection with such registration that are consistent with this Section 3.11 or that are necessary to give further effect thereto. Any
discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters shall apply pro rata to all Holders and Investors subject to such agreements, based on the number of shares subject to such
agreements. 
 3.12 Public Information. At any time and from time to time after the earlier of the close of
business on such date as (a) a registration statement filed by the Company under the Securities Act becomes effective, (b) the Company registers a class of securities under Section 12 of the United States Securities Exchange Act of
1934, as amended, or any federal statute or code which is a successor thereto (the “Exchange Act”), or (c) the Company issues an offering circular meeting the requirements of Regulation A under the Securities Act, the Company
shall undertake to make publicly available and available to the Investors pursuant to Rule 144, such information as is necessary to enable the Investors to make sales of Registrable Stock pursuant to that Rule. The Company shall comply with the
current public information requirements of Rule 144 and shall furnish thereafter to any Investor, upon request, a written statement executed by the Company as to the steps it has taken to so comply. 

4. Miscellaneous. 
 4.1 Further Assurances. Each of the parties hereto shall perform such further acts and execute such further documents as may reasonably be necessary to carry out and give full effect to the
provisions of this Agreement and the intentions of the parties as reflected thereby. 
 4.2 Governing Law;
Jurisdiction. This Agreement shall be governed by and construed according to the laws of the State of Delaware, without regard to the conflict of laws provisions thereof. Any dispute arising under or in relation to this Agreement shall be
resolved exclusively in the United States federal and state courts of the State of Delaware, and each of the parties hereby submits irrevocably to the exclusive jurisdiction of such court. 

4.3 Successors and Assigns; Assignment. Except as otherwise expressly limited herein, the provisions hereof shall inure to
the benefit of, and be binding upon, the successors, assigns, heirs, executors, and administrators of the parties hereto. None of the rights, privileges, or obligations set forth in, arising under, or created by this Agreement may be assigned or
transferred without the prior consent in writing of each party to this Agreement, with the exception of (a) assignments and transfers between the Investors, and (b) assignments and transfers from a Investor to any other entity which
controls, is controlled by, or is under common control with, such Investor, and as to any Investor which is a partnership, assignments and transfers to its partners and to affiliated partnerships managed by the same management company or managing
general partner or by an entity which controls, is controlled by, or is under common control with, such management company or managing general partner (“Affiliates”), or (c) assignments or transfers in connection with the
transfer of shares to a transferee holding, in the aggregate with its Affiliates (on an as-converted basis), after such transfer of shares, at least 

  
 13 

 
three percent (3%) of the Common Stock of the Company on a fully diluted (assuming the conversion of all convertible equity securities and the exercise of any outstanding options and
warrants to purchase shares of the Company) basis. Notwithstanding the foregoing clause (c), no Investor shall transfer any of the rights, privileges or obligations set forth herein, arising under, or created by this Agreement to (i) any entity
which, in the reasonable determination of the Board, directly or indirectly competes with the Company or (ii) any customer, distributor or supplier of the Company, if the Board should reasonably determine that such transfer would result in such
customer, distributor or supplier receiving information that would place the Company at a competitive disadvantage with respect to such customer, distributor or supplier. The Company shall provide a proposing transferor with its written decision as
to whether a proposed transfer falls within the definition in clauses (i) or (ii) above within ten (10) days from the receipt by the Company of a written inquiry from a proposing transferor. The non-receipt by such inquiring proposing
transferor of such decision by the Company within such ten (10) day period shall be deemed as an irrevocable approval by the Company that such proposed transfer does not fall within such definition and that the transfer to such proposed
transferee is approved by the Company. 
 4.4 Entire Agreement; Amendment and Waiver. This Agreement and the
Exhibits hereto constitute the full and entire understanding and agreement between the parties with regard to the subject matters hereof and thereof. This Agreement supersedes any and all prior agreements, understandings, promises and
representations made by all or some of the parties (or by either party to the other), written or oral, including the Prior Agreement, concerning the subject matter hereof and the terms applicable hereto. Any term of this Agreement may be amended and
the observance of any term hereof may be waived (either prospectively or retroactively and either generally or in a particular instance) only with the written consent of the Company and of the holders of a majority of the Preferred Stock, voting
together as a single class on an as-converted basis. 
 4.5 Notices, etc. All notices and other communications
required or permitted hereunder to be given to a party to this Agreement shall be in writing and shall be sent by facsimile, telecopied or mailed by registered or certified mail, postage prepaid, or otherwise delivered by hand or by messenger
addressed to such party’s address as set forth below: 
  

			
	if to the Investors:	  	to the addresses set forth in Schedule 1 and Schedule 2.
		
	if to the Company:	  	FiftyOne, Inc.
		  	292 Madison Avenue, 5th Floor
		  	New York, NY 10017, U.S.A.
		  	Facsimile: (212) 244 3691
		
		  	with a copy (which shall not constitute notice) to:
		
		  	Mark J. Macenka, Esq.
		  	Goodwin Procter LLP
		  	53 State Street
		  	Boston, MA 02109, U.S.A.
		  	Facsimile: (617) 523-1231

  
 14 

 or such other address with respect to a party as such party shall notify each other party in writing as
above provided. Any notice sent in accordance with this Section 5.5 shall be effective (i) if mailed, seven (7) business days after mailing, (ii) if sent by messenger, upon delivery, and (iii) if sent via telecopier, upon
transmission and electronic confirmation of receipt or (if transmitted and received on a non-business day) on the first business day following transmission and electronic confirmation of receipt). 

4.6 Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party upon any breach
or default under this Agreement, shall 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. All remedies, either under this Agreement
or by law or otherwise afforded to any of the parties, shall be cumulative and not alternative. 
 4.7
Severability. If any provision of this Agreement is held by a court of competent jurisdiction to be unenforceable under applicable law, then such provision shall be excluded from this Agreement and the remainder of this Agreement shall
be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms; provided, however, that in such event this Agreement shall be interpreted so as to give effect, to the greatest extent consistent with and
permitted by applicable law, to the meaning and intention of the excluded provision as determined by such court of competent jurisdiction. 
 4.8 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and enforceable against the parties actually executing such
counterpart, and all of which together shall constitute one and the same instrument. 
 4.9 Aggregation of Shares.
All Preferred Stock (and any Common Stock issued upon conversion of any Preferred Stock) held or acquired by affiliated entities or persons shall be aggregated together for the purpose of determining the availability of any rights and any pro-rata
calculation under this Agreement. For avoidance of doubt, all shares of Preferred Stock (and any Common Stock issued upon conversion of any Preferred Stock) held by the Delta Entities (as defined in Schedule 2) shall be aggregated with
the shares of Preferred Stock (and any Common Stock issued upon conversion of any Preferred Stock) held by any Affiliates of the Delta Entities, and all shares of Preferred Stock (and any Common Stock issued upon conversion of any Preferred Stock)
held by the Pitango Entities (as defined in Schedule 2) shall be aggregated with the shares of Preferred Stock (and any Common Stock issued upon conversion of any Preferred Stock) held by any Affiliates of the Pitango Entities. For the
removal of any doubt, and for the purpose of this Agreement, the SFKT Group (as defined in Schedule 2) shall be deemed Affiliates of the Pitango Entities. For avoidance of doubt, and for the purposes of this Agreement, all shares of
Preferred Stock (and any Common Stock issued upon conversion of any Preferred Stock) held by the Adams Street Entities (as defined in Schedule 1) shall be aggregated with the shares of Preferred Stock (and any Common Stock issued upon
conversion of any Preferred Stock) held by any Affiliates of the Adams Street Entities. 

  
 15 

 4.10 Validity. This Agreement shall be in full force and effect upon its
signing by the Company and the holders of at least a majority of the Preferred Stock voting together as a single, separate class, on an as-converted basis. 
 4.11 Additional Parties. Additional persons or entities who (i) purchase additional shares of Series E Preferred Stock pursuant to the Share Purchase Agreement, as a condition to the
purchase of such shares, or (ii) purchase capital stock of the Company, if consented to in writing by the Company and the holders of at least a majority of the Preferred Stock voting together as a single class on an as-converted basis, shall
become parties to this Agreement by executing a counterpart signature page. By virtue of the execution of a counterpart signature page to this Agreement, such person shall be deemed a Purchaser hereunder and thereupon Schedule 1
attached hereto shall be automatically amended without further action on the part of any of the parties hereto to reflect that such party is a Purchaser hereunder. The parties hereto hereby acknowledge and agree that Michael DeSimone, Kris Green and
Plenus Technologies Ltd. shall be Investors for purposes hereunder. 
 [Remainder of Page Intentionally Left Blank]

  
 16 

 IN WITNESS WHEREOF, the parties have signed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first hereinabove set forth. 
  

			
	FIFTYONE, INC.
		
	By:	 	 /s/ Michael DeSimone

	Name:	 	Michael DeSimone
	Title:	 	President and CEO

 IN WITNESS WHEREOF, the parties have signed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first hereinabove set forth. 
  

			
	ADAMS STREET V, L.P.
		
	By:	 	Adams Street Partners, LLC, its General Partner
		
	By:	 	 /s/ Jeffrey T. Diehl

	Name:	 	Jeffrey T. Diehl
	Title:	 	Partner

  

			
	BVCF IV, L.P.
		
	By:	 	Adams Street Partners, LLC, its General Partner
		
	By:	 	 /s/ Jeffrey T. Diehl

	Name:	 	Jeffrey T. Diehl
	Title:	 	Partner

 IN WITNESS WHEREOF, the parties have signed this Fourth Amended and Restated
Investors’ Rights Agreement as of the dale first hereinabove set forth. 
  

									
	DELTA FUND I (ISRAEL), L.P.	 		 	GMULOT DELTA FUND I, L.P.
					
	By:	 	 [Illegible]
	 		 	By:	 	 [Illegible]

	Name:	 	  
	 		 	Name:	 	  

	Title:	 	  
	 		 	Title:	 	  

			
	POALIM DELTA FUND, L.P.	 		 	DELTA FUND I, L.P.
					
	By:	 	 [Illegible]
	 		 	By:	 	 [Illegible]

	Name:	 	  
	 		 	Name:	 	  

	Title:	 	  
	 		 	Title:	 	  

 IN WITNESS WHEREOF, the parties have signed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first hereinabove set forth. 
  

									
	PITANGO VENTURE CAPITAL FUND III (USA) L.P.	 		 	PITANGO VENTURE CAPITAL FUND III (ISRAELI INVESTORS) L.P.
					
	By:	 	 [Illegible]
	 		 	By:	 	 [Illegible]

	Name:	 	  
	 		 	Name:	 	  

	Title:	 	  
	 		 	Title:	 	  

			
	PITANGO PARALLEL INVESTOR FUND III (USA), L.P.	 		 	PITANGO PRINCIPALS FUND III (USA) LP
					
	By:	 	 [Illegible]
	 		 	By:	 	 [Illegible]

	Name:	 	  
	 		 	Name:	 	  

	Title:	 	  
	 		 	Title:	 	  

			
	PITANGO VENTURE CAPITAL FUND III TRUSTS 2000 LTD.	 		 	PITANGO VENTURE CAPITAL FUND III (USA) NON-Q L.P.
					
	By:	 	 [Illegible]
	 		 	By:	 	 [Illegible]

	Name:	 	  
	 		 	Name:	 	  

	Title:	 	  
	 		 	Title:	 	  

  
 Fourth
Amended and Restated Investors’ Rights Agreement Signature Page 

 IN WITNESS WHEREOF, the parties have signed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first hereinabove set forth. 
  

			
	VINTAGE INVESTMENT PARTNERS V (CAYMAN) LP
		
	By:	 	Vintage Investments 5 LP
	Its:	 	General Partner
		
	By:	 	Vintage Fund 5 Ltd.
	Its:	 	General Partner
		
	By:	 	 /s/ Alan Feld

	Name:	 	Alan Feld
	Title:	 	President
		
	By:	 	 /s/ Hagai Goldhirsh

	Name:	 	Hagai Goldhirsh
	Title:	 	Chief Financial Officer
	
	VINTAGE INVESTMENT PARTNERS V (ISRAEL) LP
		
	By:	 	Vintage Investments 5 LP
	Its:	 	General Partner
		
	By:	 	Vintage Fund 5 Ltd.
	Its:	 	General Partner
		
	By:	 	 /s/ Alan Feld

	Name:	 	Alan Feld
	Title:	 	President
		
	By:	 	 /s/ Hagai Goldhirsh

	Name:	 	Hagai Goldhirsh
	Title:	 	Chief Financial Officer

  
 Fourth
Amended and Restated Investors’ Rights Agreement Signature Page 

 IN WITNESS WHEREOF, the parties have signed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first hereinabove set forth. 
  

											
	SHREM, FUDIM KELNER FOUNDER GROUP II L.P.	 		 	ARKO TECHNOLOGICAL HOLDINGS, LP (f/k/a LEADER TECH LTD.
						
	By:	 	  
	 		 		 		 	
	Name:	 	  
	 		 	By:	 	/s/ Alan Feld	 	/s/ Hagai Goldhirsh
	Title:	 	  
	 		 	Name:	 	Alan Feld	 	Hagai Goldhirsh
		 		 		 	Title:	 	President	 	CEO
					
	CANADA ISRAEL OPPORTUNITY FUND III L.P.	 		 		 		 	
						
	By:	 	  
	 		 		 		 	
	Name:	 	  
	 		 		 		 	
	Title:	 	  
	 		 		 		 	

  
 Fourth
Amended and Restated Investors’ Rights Agreement Signature Page 

 IN WITNESS WHEREOF, the parties have signed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first hereinabove set forth. 
  

			
	VENTURE STRATEGY PARTNERS II LP
		
	By:	 	Venture Strategy Management Company II LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Joanna Rees

	Name:	 	Joanna Rees
	Title:	 	Managing Member
	
	VENTURE STRATEGY AFFILIATES FUND LP
		
	By:	 	Venture Strategy Management Company II LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Joanna Rees

	Name:	 	Joanna Rees
	Title:	 	Managing Member

  
 Fourth
Amended and Restated Investors’ Rights Agreement Signature Page 

 IN WITNESS WHEREOF, the parties have signed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first hereinabove set forth. 
  

			
	STEPHEN J. GETSY LIVING TRUST
		
	By:	 	 /s/ Stephen J. Getsy

		 	Stephen J. Getsy, Trustee
	
	ON-LINE VENTURES
		
	By:	 	 /s/ Stephen J. Getsy

	Name:	 	Stephen J. Getsy
	Title:	 	CEO

  
 Fourth
Amended and Restated Investors’ Rights Agreement Signature Page 

 IN WITNESS WHEREOF, the parties have signed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first hereinabove set forth. 
  

	
	 /s/ Daniel T. Ciporin

	Daniel T. Ciporin

 IN WITNESS WHEREOF, the parties have signed this Fourth Amended and Restated
Investors’ Rights Agreement as of the date first hereinabove set forth. 
  

	
	 /s/ Michael DeSimone

	Michael DeSimone

 SCHEDULE 1 

PURCHASERS 
  

			
	 Name
	  	 Address

	  
 Adams Street
V, L.P.
  
 BVCF IV, L.P.

 
 (collectively, the “Adams Street Entities”)
	  	  

Both from:
  
 1 N. Wacker Drive, Suite 2200
 Chicago, IL 60606, USA

Fax: (312)553-7870

	 Pitango Venture Capital Fund III (USA) L.P.

 
 Pitango Parallel Investor Fund III (USA), L.P.

 
 Pitango Venture Capital Fund III (Israeli Investors) L.P.

 
 Pitango Venture Capital Fund III (USA) Non-Q L.P.

 
 Pitango Venture Capital Fund III Trusts 2000 Ltd.

Pitango Principals Fund III (USA) LP
  

(collectively the “Pitango Entities”)
	  	 all
from
  
 HaMenofim St. Bldg. B

Herzliya, 46725, Israel
 Fax.
+972-9-9718102

	 Delta Fund I, L.P.

 
 Delta Fund I (Israel), L.P.

 
 Gmulot Delta Fund, L.P.

 
 Poalim Delta Fund, L.P.

 
 (collectively the “Delta Entities”)
	  	 all
from
 85 Medinat Hayehudim,
 Industry
Area of Herzleyia
 Tel: (972-9) 9517755

Fax: (972-9) 9517799

	 Vintage Investment Partners V (Cayman) LP

 
 Vintage Investment Partners V (Israel) LP

 
 (collectively, “Vintage”)
	  	 12 Abba Eban
Avenue
 Ackerstein Towers Bldg. D, 10th Floor
 Herzilyah Pituach 46120
 Israel
 Tel: +972-9-954-8464
 Fax:
+972-9-954-1012

			
	 Venture Strategy Partners II LP

 
 Venture Strategy Affiliates Fund LP
	  	 Both
from:
  
 140 Geary Street, Suite 600

San Francisco, CA 94108-5630

	Arko Technological Holdings, LP (f/k/a Leader Tech Ltd.)	  	 21
Ha’arbha St.
 Tel-Aviv

Israel

	Daniel T. Ciporin	  	 27 Meadow
Lane
 Greenwich, CT 06831

	Coconut Capital LLC	  	 c/o Daniel T.
Ciporin
 27 Meadow Lane
 Greenwich, CT
06831

	Deepak Kamra	  	 560 Moore
Rd
 Woodside, CA 94062

	David M. Armstrong	  	 c/o Arrowhead
General Insurance Agency 701
 B Street, Suite 2100
 San Diego, CA 92101

	Schwartz Family Investments (1999) Ltd	  	 Deutsche Bank
Israel Alrov Tower 46
 Rothschild Blvd, 21 Floor
 Tel-Aviv 66883
 Israel

	Plenus Technologies Ltd.	  	 12 Abba Evan
Avenue
 Herzeliya 46725

Israel

	Yuval Tal	  	 2 Weitzman
Street
 Tel-Aviv 64239

Israel

	Yael Gilboa	  	 85A Medinat
Hayehudim Street,
 Herzliya Pituach 46140
 Israel

	Jody Rochwarger	  	 268 Chestnut
Street
 Englewood, NJ 07631

	Robert Mednick	  	 1337 North
Sutton Place
 Chicago, Illinois 60610

 SCHEDULE 2 

PREVIOUS INVESTORS 
  

			
	 Name
	  	 Address

	Three-Team (E.W) Ltd.	  	
Tephen,
 Gan Hatahasyia

Kfar Havradim 25147
 P.O Box #
43

	Yogi Consulting and Investments Ltd.	  	 28 Burla
St.
 Tel-Aviv 69364

	Viborg Anstalt Vaduz	  	 Austrasse 27,
FL-9490 Vaduz,
 Liechtenstein

	GLE Trust Assets Ltd.	  	 Beit
Eliyahu
 2 Ibn Gvirol St
 Tel-Aviv
64077

	Collace Services Ltd.	  	 The Craven
Trust Company
 Limited
 No 1 Seaton
Place, St Helier, Jersey
 JE4 8YJ

	 Shrem, Fudim, Kelner Founder Group II LP

 
 Canada Israel Opportunity Fund III LP

 
 Arko Technological Holdings, LP (f/k/a Leader Tech Ltd.)

 
 (collectively with Vintage, the “SFKT Group”)
	  	 all
from
 21 Ha’arbha St.
 Tel
Aviv
 Israel

	 Stephen J. Getsy Living Trust

 
 ON-Line Ventures
	  	 c/o Stephen J.
Getsy, Trustee
 ON-Line Ventures
 151
Sawgrass Corners Drive, Suite 206
 Ponte Vedra, Fl 32082, USA
 Fax: 904-273-8252

			
	ThinkEquity Investment Partners II LLC	  	 c/o Deborah H.
Quazzo
 ThinkEquity Partners
 150 N
Wacker Dr, Suite 1950
 Chicago, IL 60606, USA
 Fax: 312-827-6301

	 Benjamin C. Spero

 
 Victor E. Parker

 
 Shawn J. Colo

 
 David M. Armstrong
	  	 All
from
  
 c/o Spectrum Equity Investors

333 Middlefield Road
 Menlo Park, CA
94025

	 Venture Strategy Partners II LP

 
 Venture Strategy Affiliates Fund LP

 
 (collectively, the “Venture Strategy
Entities”)
	  	 Both
from:
  
 140 Geary Street, Suite 600

San Francisco, CA 94108-5630

	Howard L. Crisp	  	 68 Collins
Street
 San Francisco, CA 94118

	SRG Holdings Ltd.	  	 P.O. Box
3820
 Road Town
 TORTOLA

British Virgin Islands

	Glenbrook Partners, LLC	  	 PO Box
7130
 Menlo Park, CA 94026, U.S.A

	Caymen Partners I, LLC	  	 41 Post
Road
 Bernardsville, New Jersey 07924

Fax 908 766 1829
 Attn.: Kelly
Doherty

	Daniel T. Ciporin	  	 27 Meadow
Lane
 Greenwich, CT 06831

	Deepak Kamra	  	 560 Moore
Rd
 Woodside, CA 94062

	Michael DeSimone	  	 5 Glen Street,
#106
 Greenwich, CT 06830

			
	Kris Green	  	 303 Lee
Avenue
 Toronto, ON, Canada
 M4E
2P7

	Schwartz Family Investments (1999) Ltd.	  	 I.D #
512-80226-5
 2 Shfeya Street
 Tel Aviv
69012
 Israel

	Yuval Tal	  	 c/o Inbal
Baruch-Rotter, Adv
 CBLS, Law Offices

Tel Aviv Branch, 5 Azrieli Center
 SquareTower,
35th Floor
 Tel Aviv 67021 Israel

	Plenus Technologies Ltd.	  	 Delta
House
 16 Haglim Avenue
 Herzelia,
IsraelEX-4.3

 Exhibit 4.3 
 THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AS AMENDED (THE “SECURITIES ACT”). THEY MAY NOT BE SOLD, OFFERED FOR
SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS
SOLD PURSUANT TO RULE 144 UNDER SUCH ACT. 
 WARRANT TO PURCHASE COMMON STOCK 

OF 
 E4X, INC.

 This Warrant is issued to American Friends of Tmura, Inc. (the “Holder”) by E4X, INC., a corporation formed under
the laws of the State of Delaware (the “Company”), on April 1, 2004 (the “Warrant Issue Date”). This Warrant shall expire and become void on the earlier of: (i) following the closing of a merger or consolidation of the
Company with or into, or the sale of all or substantially all of the assets or securities of the Company to, another person or entity (a “Sale Event”), or (ii) one (1) year following the closing of the Company’s first
underwritten public offering of the Company’s Common Stock pursuant to an effective registration statement under the United States Securities Act, as amended, or the equivalent law of another jurisdiction (an “IPO” and the
“Expiration Date”). 
 1. Purchase of Shares. Subject to the terms and conditions hereinafter set forth, the
holder of this Warrant is entitled, upon surrender of this Warrant at the principal offices of the Company (or at such other place as the Company shall notify the holder hereof in writing), to purchase from the Company up to Fifty Three Thousand,
Five Hundred and Sixty Eight (53,568) fully paid and nonassessable shares of Common Stock, par value $0.01 per share, of the Company (the “Shares” or the “Warrant Shares”), as more fully described below. The number of Shares
issuable pursuant to this Section 1 shall be subject to adjustment pursuant to Section 10 hereof. 
 2. Purchase
Price. The per share purchase price (the “Exercise Price”) for the Shares shall be such share’s par value (or US$0.01 as of the date hereof). 
 3. Exercise Period. This Warrant shall become exercisable upon (i) the closing of a Sale Event or (ii) the closing of an IPO, and shall remain exercisable until the Expiration Date.

 4. Method of Exercise. The exercise of this Warrant by the Holder, in accordance with the terms and conditions hereof,
shall be effected by: 
 (i) the surrender of this Warrant, together with a duly executed copy of the form of subscription
attached hereto (“Notice of Exercise”), to the Secretary of the Company at its principal offices; and 
 (ii) the
payment to the Company of an amount equal to the aggregate Exercise Price for the number of Shares being purchased. 

 5. Net Exercise. In lieu of the payment method set forth in Section 4 above, the
Holder may elect, at anytime, to exchange the Warrant for a number of Warrant Shares equal to the increase in value of the Warrant Shares otherwise purchasable hereunder on the date of exchange. If the Holder elects to exchange this Warrant as
provided in this Section 5, the Holder shall tender to the Company, at the principle office of the Company, the Warrant along with the Notice of Exercise, and the Company shall issue to the Holder the number of Warrant Shares computed using the
following formula: 
  

			
	X = Y (A-B)	  	
	        A	  	

 Where X = the number of Warrant Shares to be issued to the Holder. 

Y - the number of Warrant Shares purchasable under the Warrant (as adjusted to the date of such calculation, but excluding those shares
already issued under this Warrant). 
 A = the Fair Market Value (as defined below) of one share of the Warrant Shares.

 B = Exercise Price (as adjusted to the date of such calculation). 

“Fair Market Value” of a Warrant Share shall mean: 
 (a) If the effective date of exercise of this Warrant is the closing date of a Sale Event, then the gross price per share of Common Stock paid by the acquiror in such Sale Event (or deemed price per
share, in the case of a sale of assets), as calculated by the auditors of the Company, based on the total consideration to be received by the Company or the stockholders in such Sale Event. 

(b) If the exercise of this Warrant is in connection with an IPO, then (i) if the effective date of exercise of this Warrant is the
closing date of the IPO, then the public offering price of a share of Common Stock in the IPO (before deduction of discounts, commissions and expenses); or (ii) if the effective date of exercise of this Warrant is following the closing of the
IPO, then the average closing or last sale price of a share of Common Stock for the five (5) trading days prior to the exercise date, as quoted by the principal stock market or quotation system on which the Common Stock is traded. 

6. Certificates for Shares. Upon the exercise of the purchase rights evidenced by this Warrant, one or more certificates for the
number of Shares so purchased shall be issued as soon as practicable thereafter, and in any event within ten (10) days of the delivery of the Notice of Exercise. 
 7. Issuance of Shares. The Company covenants that the Shares, when issued pursuant to the exercise of this Warrant, will be duly and validly issued, fully paid and nonassessable and free from all
taxes, liens, and charges with respect to the issuance thereof. Upon the issuance of the Shares, the Holder shall be bound by the provisions of the Amended and Restated Stockholders Agreement dated December 30, 2003 (as may be amended from time
to time). 

  
 2 

 8. Replacement of Warrant. On receipt of evidence reasonably satisfactory to the
Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and substance to the Company or, in the case of mutilation,
on surrender and cancellation of this Warrant, the Company at its expense shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor and amount. 
 9. Reservation of Stock. The Company covenants that during the term this Warrant is exercisable, the Company will reserve from its authorized and unissued shares of Common Stock a sufficient number
of shares to provide for the issuance of shares of Common Stock upon the exercise of this Warrant and, from time to time, will take all steps necessary to amend its Certificate of Incorporation (the “Certificate”) to provide sufficient
reserves of shares of Common Stock issuable upon exercise of this Warrant. The Company further covenants that all shares that may be issued upon the exercise of rights represented by this Warrant and payment of the Exercise Price, all as set forth
herein, will be free from all liens and charges in respect of the issue thereof. The Company agrees that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to
execute and issue the necessary certificates for shares of Common Stock upon the exercise of this Warrant. 
 10. Adjustment
of Exercise Price and Number of Shares. The Exercise Price and the number of shares purchasable hereunder are subject to adjustment from time to time as follows: 
 (a) Reorganization etc. If at any time while this Warrant, or any portion thereof, is outstanding and unexpired there shall be a reorganization (other than a combination, reclassification, exchange
or subdivision of shares otherwise provided for herein), lawful provision shall be made so that the holder of this Warrant shall thereafter be entitled to receive upon exercise of this Warrant, during the period specified herein and upon payment of
the Exercise Price then in effect, the number of shares of stock or other securities or property of the successor corporation resulting from such reorganization, sale or transfer that a holder of the shares deliverable upon exercise of this Warrant
would have been entitled to receive in such reorganization, sale or transfer if this Warrant had been exercised immediately before such reorganization, sale or transfer, all subject to further adjustment as provided in this Section 10. The
foregoing provisions of this Section 10(b) shall similarly apply to successive reorganizations, sales and transfers and to the stock or securities of any other corporation that are at the time receivable upon the exercise of this Warrant. If
the per share consideration payable to the Holder hereof for shares in connection with any such transaction is in a form other than cash of marketable securities, then the value of such consideration shall be determined in good faith by the
Company’s Board of Directors. 
 (b) Reclassification. If the Company, at any time while this Warrant, or any
portion hereof, remains outstanding and unexpired by reclassification of securities or otherwise, shall change any of the securities as to which purchase rights under this Warrant exist into the same or a different number of securities of any other
class or classes, this Warrant shall thereafter represent the right to acquire such number and kind of securities as would have been issuable as 

  
 3 

 
the result of such change with respect to the securities that were subject to the purchase rights under this Warrant immediately prior to such reclassification or other change and the Exercise
Price therefor shall be appropriately adjusted, all subject to further adjustment as provided in this Section 10. 
 (c)
Split, Subdivision or Combination of Shares. If the Company, at any time while this Warrant, or any portion hereof, remains outstanding and unexpired shall split, subdivide or combine the securities as to which purchase rights under this
Warrant exist, into a different number of securities of the same class, the Exercise Price for such securities shall be proportionately decreased in the case of a split or subdivision or proportionately increased in the case of a combination.

 (d) Adjustments for Dividends in Stock or Other Securities or Property. If while this Warrant, or any portion hereof,
remains outstanding and unexpired, the holders of the securities as to which purchase rights under this Warrant exist at the time shall have received, or, on or after the record date fixed for the determination of eligible stockholders, shall have
become entitled to receive, without payment therefor, other or additional stock or other securities or property (other than cash) of the Company by way of dividend, then and in each case, this Warrant shall represent the right to acquire, in
addition to the number of shares of the security receivable upon exercise of this Warrant, and without payment of any additional consideration therefor, the amount of such other or additional stock or other securities or property (other than cash)
of the Company that such holder would hold on the date of such exercise had it been the holder of record of the security receivable upon exercise of this Warrant on the date hereof and had thereafter, during the period from the date hereof to and
including the date of such exercise, retained such shares and/or all other additional stock available by it as aforesaid during such period, giving effect to all adjustments called for during such period by the provisions of this Section 10.

 (e) Certificate as to Adjustments. Upon the occurrence of each adjustment or readjustment pursuant to this
Section 10, the Company at its expense shall promptly compute such adjustment or readjustment in accordance with the terms hereof and furnish to each Holder of this Warrant a certificate setting forth such adjustment or readjustment and showing
in detail the facts upon which such adjustment or readjustment is based. The Company shall, upon the written request, at any time, of any such Holder, furnish or cause to be furnished to such Holder a like certificate setting forth: (i) such
adjustment and readjustment; (ii) the Exercise Price at the time in effect; and (iii) the number of shares and the amount, if any, of other property that at the time would be received upon the exercise of the Warrant. 

(f) No Impairment. The Company will not, by any voluntary action, avoid or seek to avoid the observance or performance of any of
the terms to be observed or performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all the provisions of this Section 10 and in the taking of all such action as may be necessary or appropriate in
order to protect the rights of the Holder of this Warrant against impairment. 
 11. No Fractional Shares or Scrip. No
fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant, but in lieu of such fractional shares the Company shall make a cash payment therefor on the basis of the Exercise Price then in effect.

  
 4 

 12. No Shareholder Rights. Prior to exercise of this Warrant, the Holder shall not be
entitled to any rights of a shareholder with respect to the Shares, including (without limitation) the right to vote such Shares, receive dividends or other distributions thereon, exercise preemptive rights or be notified of shareholder meetings,
and such holder shall not be entitled to any notice or other communication concerning the business or affairs of the Company. 

13. Tax Consequences. All tax consequences and obligations regarding any other compulsory payments arising from the grant or
exercise of this Warrant, from the payment for, or the subsequent disposition of the Warrant Shares or from any other event or act (of the Company or the Holder) hereunder, shall be borne solely by the Holder, and the Holder shall indemnify the
Company and hold it harmless against and from any and all liability for any such tax or other compulsory payments or interest or penalty thereon, including without limitation, liabilities relating to the necessity to withhold, or to have withheld,
any such tax or other compulsory payments. 
 14. Successors and Assigns. The terms and provisions of this Warrant shall
inure to the benefit of, and be binding upon, the Company its successors and assigns. This Warrant cannot be assigned or transferred by the Holder without the express written consent of the Company. 

15. Amendments and Waivers. Any term of this Warrant may be amended and the observance of any term of this Warrant may be waived
(either generally or in a particular instance and either retroactively or prospectively), with the written consent of the Company and the Holder. Any waiver or amendment effected in accordance with this Section shall be binding upon the Holder, each
holder of any Shares purchased under this Warrant at the time outstanding (including securities into which such Shares have been converted), each future holder of all such Shares, and the Company. 

16. Governing Law Jurisdiction. This Warrant shall be governed by and construed according to the laws of the State of Delaware,
without regard to the conflict of laws provisions thereof. Any dispute arising under or in relation to this Warrant shall be resolved exclusively in the United States federal and state courts of the State of Delaware, and each of the parties hereby
submits irrevocably to the exclusive jurisdiction of such court. 
 17. Notices. All notices required under this Warrant
shall be in writing and shall be telecopied or mailed by registered or certified mail, postage prepaid, or otherwise delivered by hand or by messenger, addressed to such party’s address as set forth below or at such other address as the party
shall have furnished to each other party in writing in accordance with this provision: 
 if to the Holder: 

American Friends of Tmura, Inc. 
 c/o Gross, Kleinhendler, Hodak, Halevy, Greenberg & Co. 
 1 Azrieli Center

 Tel Aviv 67021 
 Facsimile: 972-3-6914164 

  
 5 

 if to the Company; 
 E4X, Inc. 
 Suite 1902 

555 8th Avenue 
 NewYork, NY 10018 
 Facsimile: (212)244 3691 

with a copy (which shall not constitute notices) to: 
 Yudi Levy, Adv. 
 Goldfarb, Levy, Eran & Co. 

2 Ibn Gvirol Street, 
 Tel Aviv, Israel 
 Facsimile; (972-5) 608-9910 

or such, other address with respect to a party as such party shall notify each other party in writing as above, provided. Any notice sent
in accordance with this Section 18 shall be effective (i) if mailed, seven (7) business days after mailing, (ii) if sent by messenger, upon delivery, and (iii) if sent via telecopier, upon transmission and electronic
confirmation of receipt or (if transmitted and received on a non-business day) on the first business day following transmission and electronic confirmation of receipt (provided, however, that any notice of change of address shall only be valid upon
receipt). 
 IN WITNESS WHEREOF, E4X, Inc. has caused this Warrant to be executed by an officer thereunto duly authorized.

  

			
	E4X, INC.
		
	By:	 	 /s/ Yuval Tal

	Name:	 	Yuval Tal
	Title:	 	CEO

  

			
	Agreed and accepted:
	
	American Friends of Tmura, Inc.
		
	By:	 	 [Illegible]

  
 6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00226-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00226-of-00352.parquet"}]]