Document:

EX-10.23

 EXHIBIT 10.23 
 FIRST AMENDMENT 
 TO 

LOAN AND SECURITY AGREEMENT 

This First Amendment to Loan and Security Agreement (this “Amendment”) is entered into this
20th day of December, 2012, by and among
(i) TETRAPHASE PHARMACEUTICALS, INC., a Delaware corporation with offices located at 480 Arsenal Street, Suite 110, Watertown, Massachusetts 02472 (“Tetraphase”), TETRAPHASE SECURITIES CORPORATION, a Massachusetts
corporation with offices located at 480 Arsenal Street, Suite 110, Watertown, Massachusetts 02472 (“Tetraphase Securities”; Tetraphase and Tetraphase Securities are referred to herein, individually and collectively, jointly and
severally, as “Borrower”), (ii) SILICON VALLEY BANK, a California corporation with an office located at 275 Grove Street, Suite 2-200, Newton, MA 02466 (“SVB”), (iii) OXFORD FINANCE LLC, a
Delaware limited liability company with an office located at 133 North Fairfax Street, Alexandria, Virginia 22314 (“Oxford”), (iv) each of the other Lenders, listed on Schedule 1.1 hereof or otherwise a party thereto from time
to time, including SVB and Oxford in their capacities as Lenders, (each a “Lender” and collectively, the “Lenders”), and (v) SVB, as agent (in such capacity, the “Agent”) for the Lenders.

 RECITALS 
 A. Lenders and Borrower have entered into that certain Loan and Security Agreement dated as of May 16, 2011 (as the same may from time to time be further amended, modified, supplemented or restated,
the “Loan Agreement”). 
 B. Each Lender extended credit to Borrower for the purposes permitted in the Loan
Agreement. 
 C. Borrower has requested that Lenders amend the Loan Agreement to (i) provide a new 2012 Term Loan in an
amount of Nine Million Two Hundred Thousand Dollars ($9,200,000.00), and (ii) make certain other revisions to the Loan Agreement as more fully set forth herein. 
 D. Each Lender has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and
warranties set forth below. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable
consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 
 1. Definitions. Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement. 

2. Amendments to Loan Agreement. 
 2.1 Section 2.1 (Promise to Pay). Section 2.1 is amended in its entirety and replaced with the following: 

2.1 Promise to Pay. Borrower hereby unconditionally promises to pay each Lender, the outstanding principal amount
of all Term Loans and/or 2012 Term Loans advanced to Borrower by such Lender and accrued and unpaid interest thereon and any other amounts due hereunder as and when due in accordance with this Agreement. 

 2.2 Section 2.2.1 (2012 Term Loans). The Loan Agreement is amended by inserting
the following new Section to appear as Section 2.2.1 thereof: 
 2.2.1 2012 Term Loans. 

(a) Availability. (i) Subject to the terms and conditions of this Agreement, the Lenders agree, severally and
not jointly, during the 2012 First Draw Period, to make term loans to Borrower in an aggregate amount up to Six Million Two Hundred Thousand Dollars ($6,200,000) according to each Lender’s 2012 Term A Loan Commitment as set forth on Schedule
1.1 hereto (such term loans are hereinafter referred to singly as a “2012 Term A Loan”, and collectively as the “2012 Term A Loans”). After repayment, no 2012 Term A Loan may be re-borrowed. 

(ii) Subject to the terms and conditions of this Agreement, the Lenders agree, severally and not jointly, during the 2012
Second Draw Period, to make term loans to Borrower in an aggregate amount up to Three Million Dollars ($3,000,000) according to each Lender’s 2012 Term B Loan Commitment as set forth on Schedule 1.1 hereto (such term loans are
hereinafter referred to singly as a “2012 Term B Loan”, and collectively as the “2012 Term B Loans”; each 2012 Term A Loan or 2012 Term B Loan is hereinafter referred to singly as a “2012 Term Loan”
and the 2012 Term A Loans and the 2012 Term B Loans are hereinafter referred to collectively as the “2012 Term Loans”). After repayment, no 2012 Term B Loan may be re-borrowed. 

(b) Repayment. (i) For the 2012 Term A Loans, Borrower shall make monthly payments of interest only commencing
on the first (1st) Payment Date following the Funding Date of the 2012 Term A Loans, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the applicable 2012
Amortization Date. Commencing on the applicable 2012 Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal and interest, in arrears, to each Lender, as
calculated by Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s 2012 Term A Loan, (2) the effective rate of interest, as determined in Section 2.3(a)(ii), and
(3) a repayment schedule equal to thirty-three (33) months. All unpaid principal and accrued and unpaid interest with respect to the 2012 Term A Loans is due and payable in full on the applicable 2012 Maturity Date. The 2012 Term A Loans
may only be prepaid in accordance with Sections 2.2.1(c) and 2.2.1(d). 
 (ii) For the 2012 Term B Loans,
Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of the 2012 Term B Loans, and continuing on the Payment Date of each successive month thereafter through and including
the Payment Date immediately preceding the applicable 2012 Amortization Date. Commencing on the applicable 2012 Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of
principal and interest, in arrears, to each Lender, as calculated by Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s 2012 Term B Loan, (2) the effective rate of
interest, as determined in Section 2.3(a)(ii), and (3) a repayment schedule equal to thirty-three (33) months. All unpaid principal and accrued interest with respect to the 2012 Term B Loans is due and payable in full on the 2012
Maturity Date. The 2012 Term B Loans may only be prepaid in accordance with Sections 2.2.1(c) and 2.2.1(d). 

(c) Mandatory Prepayments. If the 2012 Term Loans are accelerated following the occurrence and during the
continuance of an Event of Default, Borrower shall immediately pay to Lenders, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of: (i) all outstanding principal of the 2012 Term Loans plus
accrued interest thereon through the prepayment date, (ii) the Final Payment, (iii) the Prepayment Fee, plus (iv) all other sums, that shall have become due and payable, including Lenders’ Expenses and interest at the Default
Rate with respect to any past due amounts. Notwithstanding (but without duplication with) the foregoing, on the 2012 Maturity Date, if the Final Payment has not previously been paid in full in connection with the prepayment of the 2012 Term Loans in
full, Borrower shall pay to Agent, for payment to each Lender in accordance with its respective Pro Rata Share, the unpaid amount of the Final Payment in respect of the 2012 Term Loan(s). 

 (d) Permitted Prepayment of 2012 Term Loans. Borrower shall have the
option to prepay all, but not less than all, of the 2012 Term Loans advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Agent of its election to prepay the 2012 Term Loans at least ten (10) days
prior to such prepayment, and (ii) pays to the Lenders on the date of such prepayment, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of (A) all outstanding principal of the 2012 Term
Loans plus accrued interest thereon through the prepayment date, (B) the Final Payment, (C) the Prepayment Fee, plus (D) all other sums, that shall have become due and payable, including Lenders’ Expenses, if any, and interest at
the Default Rate with respect to any past due amounts. 
 2.3 Section 2.3(a) (Interest Rate). Section 2.3(a) is
amended in its entirety and replaced with the following: 
 (a) Interest Rate. 

(i) Term Loans. Subject to Section 2.3(b), the principal amount outstanding under the Term Loans shall accrue
interest at a fixed per annum rate (which rate shall be fixed for the duration of the applicable Term Loan) equal to the Basic Rate, determined by Agent on the Funding Date of the applicable Term Loan, which interest shall be payable monthly in
accordance with Sections 2.2(b) and 2.3(e). Interest shall accrue on each Term Loan commencing on, and including, the day on which the Term Loan is made, and shall accrue on a Term Loan, or any portion thereof, for the day on which the Term Loan or
such portion is paid. 
 (ii) 2012 Term Loans. Subject to Section 2.3(b), the principal amount
outstanding under the 2012 Term Loans shall accrue interest at a fixed per annum rate (which rate shall be fixed for the duration of the applicable 2012 Term Loan) equal to the Basic Rate, determined by Agent on the Funding Date of the applicable
2012 Term Loan, which interest shall be payable monthly in accordance with Sections 2.2.1(b) and 2.3(e). Interest shall accrue on each 2012 Term Loan commencing on, and including, the day on which the 2012 Term Loan is made, and shall accrue on a
2012 Term Loan, or any portion thereof, for the day on which the 2012 Term Loan or such portion is paid. 
 2.4
Section 2.4 (Secured Promissory Notes). Section 2.4 is amended in its entirety and replaced with the following: 
 2.4 Secured Promissory Notes. Each Term Loan and/or 2012 Term Loan shall be evidenced by a Secured Promissory Note in the form attached as Exhibit D hereto (each a “Secured
Promissory Note”), and shall be repayable as set forth herein. Borrower irrevocably authorizes each Lender to make or cause to be made, on or about the Funding Date of any Term Loan and/or 2012 Term Loan or at the time of receipt of any
payment of principal on such Lender’s Secured Promissory Note, an appropriate notation on such Lender’s Secured Promissory Note Record reflecting the making of such Term Loan and/or 2012 Term Loan or (as the case may be) the receipt of
such payment. The outstanding amount of each Term Loan and/or 2012 Term Loan set forth on such Lender’s Secured Promissory Note Record shall be prima facie evidence of the principal amount thereof owing and unpaid to such Lender, but the
failure to record, or any error in so recording, any such amount on such Lender’s Secured Promissory Note Record shall not limit or otherwise affect the obligations of Borrower hereunder or under any Secured Promissory Note to make payments of
principal of or interest on any Secured Promissory Note when due. Upon receipt of an affidavit (including a customary indemnity) of an officer of a Lender as to the loss, theft, destruction, or mutilation of its Secured Promissory Note, Borrower
shall issue, in lieu thereof, a replacement Secured Promissory Note in the same principal amount thereof and of like tenor. 

 2.5 Section 3.2 (Conditions Precedent to all Credit Extensions).
Section 3.2(c) is amended in its entirety and replaced with the following: 
 (c) in such Lender’s
reasonable discretion, there has not been any Material Adverse Change or any material adverse deviation in the consolidated financial condition of Borrower from the financial condition projected in the slides prepared for the November 13, 2012
due diligence discussions and provided to the Lenders on November 13, 2012; and 
 2.6 Section 3.2 (Conditions
Precedent to all Credit Extensions). Section 3.2(c) is amended by inserting the following new provisions to appear as subsections (d) and (e) thereof: 

(d) in connection with the 2012 Term A Loan, a Warrant to Purchase Stock issued by Borrower to SVB, in form and substance
acceptable to SVB; 
 (e) in connection with each 2012 Term Loan, a Warrant to Purchase Stock issued by Borrower
to Oxford, in form and substance acceptable to Oxford; and 
 (f) duly executed original Secured Promissory
Notes, in the aggregate principal amount of the applicable 2012 Term Loan, in favor of each Lender according to its Term Loan Commitments. 
 2.7 Section 3.4 (Procedures for Borrowing). Section 3.4 is amended in its entirety and replaced with the following: 

3.4 Procedures for Borrowing. Subject to the prior satisfaction of all other applicable conditions to the making of
a Term Loan and/or 2012 Term Loan set forth in this Agreement, to obtain a Term Loan and/or 2012 Term Loan, Borrower shall notify Agent (which notice shall be irrevocable) by electronic mail, facsimile, or telephone by 12:00 noon Eastern time at
least three (3) Business Days prior to the date the Term Loan and/or 2012 Term Loan is to be made. Together with any such electronic or facsimile notification, Borrower shall deliver to Agent by electronic mail or facsimile a completed
Payment/Advance Form executed by a Responsible Officer or his or her designee and each of the documents required pursuant to Section 3.2(d) and (e) hereof. Upon receipt of a Payment/Advance Form and each of the documents set forth in
Section 3.2(d) and (e) hereof, Agent shall promptly provide a copy of the same to each Lender. Agent may rely on any telephone notice given by a person whom Agent reasonably believes is a Responsible Officer or designee. On the Funding
Date, each Lender shall credit and/or transfer (as applicable) to Borrower’s Designated Deposit Account, an amount equal to its Term Loan Commitment. 
 2.8 Section 5.4 (No Material Deterioration in Financial Condition; Financial Statements). Section 5.4 is amended in its entirety and replaced with the following: 

5.4 No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements
for Borrower and its Subsidiaries delivered to Agent fairly present, in all material respects the consolidated financial condition of Borrower and its Subsidiaries and the consolidated results of operations of Borrower and its Subsidiaries. On and
prior to December 31, 2011, there has not been any material adverse deviation in the consolidated financial condition of Borrower from the financial condition projected in the slides prepared for the April 27, 2011 meeting of
Tetraphase’s Board of Directors and provided to the Lenders on April 25, 2011. After December 31, 2011 and prior to the 2012 Effective Date, there has not been any material adverse deviation in the consolidated financial condition of
Borrower from the Annual Projections submitted to Agent pursuant to Section 6.2(a)(iii). After the 2012 Effective Date and prior to the delivery of the Annual Projections submitted to Agent pursuant to Section 6.2(a)(iii) for 2013, there
has not been any material adverse deviation in the consolidated financial condition of Borrower from the financial condition projected in the slides prepared for the November 13, 2012 due diligence discussions and provided to the Lenders on
November 13, 2012. From and after the delivery of the Annual Projections submitted to Agent pursuant to Section 6.2(a)(iii) for 2013, there has not been any material adverse deviation in the consolidated financial condition of Borrower
from the Annual Projections submitted to Agent pursuant to Section 6.2(a)(iii). 

 2.9 Section 7.2 (Changes in Business, Management, Ownership, or Business
Locations). Section 7.2(c)(i) is amended by deleting “Term Loans” therein and inserting in lieu thereof the following “Term Loans and 2012 Term Loans”. 

2.10 Section 8.1 (Payment Default). Section 8.1 is amended in its entirety and replaced with the following: 

8.1 Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension
on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period shall not apply to payments due on the Maturity Date and/or the
2012 Maturity Date or the date of acceleration pursuant to Section 9.1 (a) hereof). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);

 2.11 Section 9.4 (Application of Payments and Proceeds). Section 9.4 is amended in its entirety and replaced
with the following: 
 9.4 Application of Payments and Proceeds. Notwithstanding anything to the contrary
contained in this Agreement, upon the occurrence and during the continuance of an Event of Default, (a) Borrower irrevocably waives the right to direct the application of any and all payments at any time or times thereafter received by Agent
from or on behalf of Borrower of all or any part of the Obligations, and, as between Borrower on the one hand and Agent and Lenders on the other, Agent shall have the continuing and exclusive right to apply and to reapply any and all payments
received against the Obligations in such manner as Agent may deem advisable notwithstanding any previous application by Agent, and (b) the proceeds of any sale of, or other realization upon all or any part of the Collateral shall be applied:
first, to the Lenders’ Expenses; second, to accrued and unpaid interest on the Obligations (including any interest which, but for the provisions of the United States Bankruptcy Code, would have accrued on such amounts); third, to the principal
amount of the Obligations outstanding; and fourth, to any other indebtedness or obligations of Borrower owing to Agent or any Lender under the Loan Documents. Any balance remaining shall be delivered to Borrower or to whoever may be lawfully
entitled to receive such balance or as a court of competent jurisdiction may direct. In carrying out the foregoing, (x) amounts received shall be applied in the numerical order provided until exhausted prior to the application to the next
succeeding category, and (y) each of the Persons entitled to receive a payment in any particular category shall receive an amount equal to its pro rata share of amounts available to be applied pursuant thereto for such category. Any reference
in this Agreement to an allocation between or sharing by the Lenders of any right, interest or obligation “ratably,” “proportionally” or in similar terms shall refer to Pro Rata Share unless expressly provided otherwise. Agent,
or if applicable, each Lender, shall promptly remit to the other Lenders such sums as may be necessary to ensure the ratable repayment of each Lender’s portion of any Term Loan and/or 2012 Term Loan and the ratable distribution of interest,
fees and reimbursements paid or made by Borrower. Notwithstanding the foregoing, a Lender receiving a scheduled payment shall not be responsible for determining whether the other Lenders also received their scheduled payment on such date; provided,
however, if it is later determined that a Lender received more than its ratable share of scheduled payments made on any date or dates, then such Lender shall remit to Agent or other Lenders such sums as may be necessary to ensure the ratable payment
of such scheduled payments, as instructed by Agent. If any payment or distribution of any kind or character, whether in cash, properties or securities, shall be received by a Lender in excess of its ratable share, then the portion of such payment or
distribution in excess of such Lender’s ratable share shall be received by such Lender in trust for and shall be promptly paid over to the other Lender for application to the payments of amounts due on the other Lenders’ claims. To the
extent any payment for the account of Borrower is required to be returned as a voidable transfer or otherwise, the Lenders shall contribute to one another as is necessary to ensure that such return of payment is on a pro rata basis. If any Lender
shall obtain possession of any Collateral, it shall hold such Collateral for itself and as agent and bailee for Agent and other Lenders for purposes of perfecting Agent’s security interest therein. 

 2.12 Section 12.6 (Amendments in Writing; Integration). Section 12.6 is
amended in its entirety and replaced with the following: 
 12.6 Amendments in Writing; Integration. (a) No
amendment, modification, termination or waiver of any provision of this Agreement or any other Loan Document, no approval or consent thereunder, or any consent to any departure by Borrower therefrom, shall in any event be effective unless the same
shall be in writing and signed by Borrower, Agent and the Required Lenders provided that 
 (i) no such
amendment, waiver or other modification that would have the effect of increasing or reducing a Lender’s Term Loan Commitment or Commitment Percentage shall be effective as to such Lender without such Lender’s written consent; 

(ii) no such amendment, waiver or modification that would affect the rights and duties of Agent shall be effective without
Agent’s written consent or signature; 
 (iii) no such amendment, waiver or other modification shall, unless
signed by all the Lenders directly affected thereby, (A) reduce the principal of, rate of interest on or any fees with respect to any Term Loan and/or 2012 Term Loan or forgive any principal, interest (other than default interest) or fees
(other than late charges) with respect to any Term Loan and/or 2012 Term Loan (B) postpone the date fixed for, or waive, any payment of principal of any Term Loan and/or 2012 Term Loan or of interest on any Term Loan and/or 2012 Term Loan
(other than default interest) or any fees provided for hereunder (other than late charges or for any termination of any commitment); (C) change the definition of the term “Required Lenders” or the percentage of Lenders which
shall be required for Lenders to take any action hereunder; (D) release all or substantially all or any material portion of the Collateral, authorize Borrower to sell or otherwise dispose of all or substantially all or any material portion of
the Collateral or release any guarantor of all or any portion of the Obligations or its guaranty obligations with respect thereto, except, in each case with respect to this clause (D), as otherwise may be expressly permitted under this Agreement or
the other Loan Documents (including in connection with any disposition permitted hereunder); (E) amend, waive or otherwise modify this Section 12.6 or the definitions of the terms used in this Section 12.6 insofar as the definitions
affect the substance of this Section 12.6; (F) consent to the assignment, delegation or other transfer by Borrower of any of its rights and obligations under any Loan Document or release Borrower of its payment obligations under any Loan
Document, except, in each case with respect to this clause (F), pursuant to a merger or consolidation permitted pursuant to this Agreement; (G) amend any of the provisions of Section 9.4 or amend any of the definitions Pro Rata Share, Term
Loan Commitment, Commitment Percentage or that provide for the Lenders to receive their Pro Rata Shares of any fees, payments, setoffs or proceeds of Collateral hereunder; (H) subordinate the Liens granted in favor of Agent securing the
Obligations; or (I) amend any of the provisions of Section 12.10. It is hereby understood and agreed that all Lenders shall be deemed directly affected by an amendment, waiver or other modification of the type described in the preceding
clauses (C), (D), (E), (F), (G) and (H) of the preceding sentence; 
 (iv) the provisions of the
foregoing clauses (i), (ii) and (iii) are subject to the provisions of any interlender or agency agreement among the Lenders and Agent pursuant to which any Lender may agree to give its consent in connection with any amendment, waiver or
modification of the Loan Documents only in the event of the unanimous agreement of all Lenders. 
 (b) Other than
as expressly provided for in Section 12.6(a)(i)-(iii), Agent may, if requested by the Required Lenders, from time to time designate covenants in this Agreement less restrictive by notification to a representative of Borrower.

 (c) This Agreement and the Loan Documents represent the entire agreement about this subject matter and
supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Agreement and the Loan Documents merge into this Agreement and the
Loan Documents. 

 2.13 Section 12.9 (Confidentiality). Section 12.9 is amended in its
entirety and replaced with the following: 
 12.9 Confidentiality. In handling any confidential
information of Borrower, the Lenders and Agent shall exercise the same degree of care that it exercises for their own proprietary information, but disclosure of information may be made: (a) subject to the terms and conditions of this Agreement,
to the Lenders’ and Agent’s Subsidiaries or Affiliates, or in connection with a Lender’s own financing or securitization transactions and upon the occurrence of a default, event of default or similar occurrence with respect to such
financing or securitization transaction; (b) to prospective transferees (other than those identified in (a) above) or purchasers of any interest in the Credit Extensions (provided, however, the Lenders and Agent shall, except upon the
occurrence and during the continuance of an Event of Default, obtain such prospective transferee’s or purchaser’s agreement to the terms of this provision or to similar confidentiality terms); (c) as required by law, regulation,
subpoena, or other order; (d) to Lenders’ or Agent’s regulators or as otherwise required in connection with an examination or audit; (e) as Agent reasonably considers appropriate in exercising remedies under the Loan Documents;
and (f) to third party service providers of the Lenders and/or Agent so long as such service providers have executed a confidentiality agreement with the Lenders and Agent with terms no less restrictive than those contained herein. Confidential
information does not include information that either: (i) is in the public domain or in the Lenders’ and/or Agent’s possession when disclosed to the Lenders and/or Agent, or becomes part of the public domain after disclosure to the
Lenders and/or Agent; or (ii) is disclosed to the Lenders and/or Agent by a third party, if the Lenders and/or Agent does not know that the third party is prohibited from disclosing the information. Agent and the Lenders may use
confidential information for any purpose, including, without limitation, for the development of client databases, reporting purposes, and market analysis. The provisions of the immediately preceding sentence shall survive the termination of
this Agreement. The agreements provided under this Section 12.9 supersede all prior agreements, understanding, representations, warranties, and negotiations between the parties about the subject matter of this Section 12.9.

 2.14 Section 13.1 (Cooperation of Borrower). Section 13.1 is amended in its entirety and replaced with the
following: 
 13.12 Cooperation of Borrower. If necessary, Borrower agrees to (i) execute any
documents (including new Secured Promissory Notes) reasonably required to effectuate and acknowledge each assignment of a Term Loan Commitment or Loan to an assignee in accordance with Section 12.1, (ii) make Borrower’s management
available to meet with Agent and prospective participants and assignees of Term Loan Commitments or Credit Extensions (which meetings shall be conducted no more often than twice every twelve months unless an Event of Default has occurred and is
continuing) and (iii) assist Agent or the Lenders in the preparation of information relating to the financial affairs of Borrower as any prospective participant or assignee of a Term Loan Commitment or Term Loan and/or 2012 Term Loan reasonably
may request. Subject to the provisions of Section 12.9 Borrower authorizes each Lender to disclose to any prospective participant or assignee of a Term Loan Commitment, any and all information in such Lender’s possession concerning
Borrower and its financial affairs which has been delivered to such Lender by or on behalf of Borrower pursuant to this Agreement, or which has been delivered to such Lender by or on behalf of Borrower in connection with such Lender’s credit
evaluation of Borrower prior to entering into this Agreement. 
 2.15 Section 13 (Definitions). The following terms
and their respective definitions set forth in Section 13.1 are amended in their entirety and replaced with the following: 
 “Basic Rate” means with respect to: (a) Term Loans, the per annum rate of interest (based on a year of 360 days) equal to the greater of (i) 10.00% and (ii) the sum of
(x) the Prime Rate three (3) Business Days prior to the Funding Date of such Term Loan, plus (y) 6.00%, and (b) 2012 Term Loans, the per annum rate of interest (based on a year of 360 days) equal to the greater of (i) 9.00%
and (ii) the sum of (x) WSJ Prime Rate three (3) Business Days prior to the Funding Date of such 2012 Term Loan, plus (y) 5.75%. 

 “Credit Extension” is any Term Loan, 2012 Term Loan, or any
other extension of credit by Agent or Lenders for Borrower’s benefit. 
 “Final Payment” is
a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the earliest to occur of: 
 (A) with respect to Term Loans: (i) the Maturity Date, or (ii) the acceleration of any Term Loan, or (c) the prepayment of a Term Loan pursuant to Section 2.2(c) or (d), equal to the
original principal amount of such Term Loan multiplied by the Final Payment Percentage, payable to Lenders in accordance with their respective Pro Rata Shares, and 

(b) with respect to 2012 Term Loans: (i) the applicable 2012 Maturity Date, or (ii) the acceleration of any 2012
Term Loan, or (c) the prepayment of a 2012 Term Loan pursuant to Section 2.2.1(c) or (d), equal to the original principal amount of such 2012 Term Loan multiplied by the Final Payment Percentage, payable to Lenders in accordance with their
respective Pro Rata Shares.” 
 “Final Payment Percentage” is (a) for Term Loans,
2.75% and (b) for 2012 Term Loans, 2.90%. 
 “Prepayment Fee” means with respect to any:

 (A) Term Loan subject to prepayment prior to the Maturity Date, whether by mandatory or voluntary prepayment,
acceleration or otherwise, an additional fee payable to the Lenders in amount equal to: 
 (i) for a prepayment
made on or after the Funding Date of such Term Loan through and including the first anniversary of the Funding Date of such Term Loan, four percent (4.00%) of the principal amount of such Term Loan prepaid; 

(ii) for a prepayment made after the date which is after the first anniversary of the Funding Date of such Term Loan
through and including the second anniversary of the Funding Date of such Term Loan, two percent (2.00%) of the principal amount of the Term Loans prepaid; and 

(iii) for a prepayment made after the date which is after the second anniversary of the Funding Date of such Term Loan but
prior to the Maturity Date, one percent (1.00%) of the principal amount of the Term Loans prepaid. 
 (B)
2012 Term Loan subject to prepayment prior to the applicable 2012 Maturity Date, whether by mandatory or voluntary prepayment, acceleration or otherwise, an additional fee payable to the Lenders in amount equal to: 

(i) for a prepayment made on or after the Funding Date of such 2012 Term Loan through and including the first anniversary
of the Funding Date of such 2012 Term Loan, four percent (4.00%) of the principal amount of such 2012 Term Loan prepaid; 
 (ii) for a prepayment made after the date which is after the first anniversary of the Funding Date of such 2012 Term Loan through and including the second anniversary of the Funding Date of such 2012 Term
Loan, two percent (2.00%) of the principal amount of such 2012 Term Loan prepaid; and 
 (iii) for a
prepayment made after the date which is after the second anniversary of the Funding Date of such 2012 Term Loan but prior to the applicable 2012 Maturity Date, one percent (1.00%) of the principal amount of such 2012 Term Loan prepaid.

 “Pro Rata Share” means, as of any date of determination, with respect to each Lender, a
percentage (expressed as a decimal, rounded to the ninth decimal place) determined by dividing the outstanding principal amount of Term Loans and 2012 Term Loans held by such Lender by the aggregate outstanding principal amount of all Term Loans and
2012 Term Loans. 

 “Required Lenders” means (i) for so long as all of the
Persons that are Lenders on the Effective Date (each an “Original Lender”) have not assigned or transferred any of their interests in their Term Loan and/or 2012 Term Loan, Lenders holding one hundred percent (100%) of the
aggregate outstanding principal balance of the Term Loan and 2012 Term Loan, or (ii) at any time from and after any Original Lender has assigned or transferred any interest in its Term Loan and/or 2012 Term Loan, Lenders holding at least sixty
six percent (66%) of the aggregate outstanding principal balance of the Term Loan and 2012 Term Loan and, in respect of this clause (ii), (A) each Original Lender that has not assigned or transferred any portion of its Term Loan and/or
2012 Term Loan, (B) each assignee or transferee of an Original Lender’s interest in the Term Loan and/or 2012 Term Loan, but only to the extent that such assignee or transferee is an Affiliate or Approved Fund of such Original Lender, and
(C) any Person providing financing to any Person described in clauses (A) and (B) above; provided, however, that this clause (C) shall only apply upon the occurrence of a default, event of default or similar occurrence with
respect to such financing. 
 “Term Loan Commitment” means, for any Lender, the obligation of
such Lender to make a Term Loan and/or 2012 Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders. 

2.16 Section 13.1 (Definitions). The Loan Agreement is amended by inserting the following new definitions to appear
alphabetically in Section 13.1 thereof: 
 “2012 Amortization Date” is
for each 2012 Term Loan, the first Payment Date following the six (6) month anniversary of the Funding Date of such 2012 Term Loan, provided that if the Funding Date occurs on the first
(1st) calendar day of the month, the Amortization
Date for such 2012 Term Loan shall be the six (6) month anniversary of the Funding Date of such 2012 Term Loan. 
 “2012 Effective Date” is December 20, 2012 (date of this Amendment). 
 “2012 First Draw Period” means the period commencing on the 2012 Effective Date and ending on the earlier of (i) December 31, 2012 and (ii) the occurrence of an Event of
Default. 
 “2012 Maturity Date” is, for each 2012 Term Loan, the Payment Date that is
thirty-two (32) months after the applicable 2012 Amortization Date for such 2012 Term Loan. 
 “2012
Second Draw Period” means the period commencing upon the occurrence of the Milestone Event and ending on the earlier of (i) February 28, 2013 and (ii) the occurrence of an Event of Default. 

“2012 Term Loan” is defined in Section 2.2.1(a)(ii) hereof. 

“2012 Term A Loan” is defined in Section 2.2.1(a)(i) hereof. 

“2012 Term B Loan” is defined in Section 2.2.1(a)(ii) hereof. 

“Board” means Borrower’s board of directors. 

“FDA” means the United States Food and Drug Administration. 

“Milestone Event” means: (i) Borrower has delivered to Agent and Lenders, certified Board minutes,
in form and substance acceptable to Lenders in their good faith business judgment, evidencing the Board’s decision, based upon a positive meeting with the FDA regarding the results of the phase II trials relating to intravenously-administered
eravacycline, to proceed with a phase III trial relating to intravenously-administered eravacycline, and (ii) based on conversations with Borrower’s management and Board, satisfactory to Lenders in their good faith business judgment, the
financing strategy proposed by Borrower will enable Borrower to satisfy its Obligations as they become due and payable. 

 “WSJ Prime Rate” is the rate of interest per annum from
time to time published in the money rates section of The Wall Street Journal or any successor publication thereto as the “prime rate” then in effect; provided that if such rate of interest, as set forth from time to time in the money rates
section of The Wall Street Journal, becomes unavailable for any reason as determined by Agent, the “Prime Rate” shall mean the rate of interest per annum announced by Agent as its prime rate in effect at its principal office in the State
of California (such Agent announced Prime Rate not being intended to be the lowest rate of interest charged by Agent in connection with extensions of credit to debtors). 
 2.17 Schedule 1.1 (Lenders and Commitments). Schedule 1.1 is amended in its entirety and replaced with Schedule 1.1 in the form of Exhibit A attached hereto. 

2.18 Exhibit B (Loan Payment/Advance Request Form). The Loan Payment/Advance Request From is amended in its entirety and replaced
with the Loan Payment/Advance Form in the form of Exhibit B attached hereto. 
 2.19 Exhibit D (Promissory Note). The
Promissory Note is amended in its entirety and replaced with the Promissory Note in the form of Exhibit C attached hereto. 

3. Limitation of Amendments. 
 3.1 The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to
any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may have in the future under or in connection with any Loan Document.

 3.2 This Amendment shall be construed in connection with and as part of the Loan Documents and all terms, conditions,
representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect. 

4. Representations and Warranties. To induce Bank to enter into this Amendment, Borrower hereby represents and warrants to Bank as
follows: 
 4.1 Immediately after giving effect to this Amendment (a) the representations and warranties contained
in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and
(b) no Event of Default has occurred and is continuing; 
 4.2 Borrower has the power and authority to execute and
deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment; 
 4.3 The
organizational documents of Borrower delivered to Bank on the Effective Date remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect; 

4.4 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, have been duly authorized; 
 4.5 The execution and delivery by Borrower of this
Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction
with a Person binding on Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 

 4.6 The execution and delivery by Borrower of this Amendment and the performance by
Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or
public body or authority, or subdivision thereof, binding on either Borrower, except as already has been obtained or made; and 

4.7 This Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against
Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting
creditors’ rights. 
 5. Updated Perfection Certificate. Borrower has delivered an updated Perfection Certificate in
connection with this Amendment (the “Updated Perfection Certificate”) dated as of December 20, 2012, which Updated Perfection Certificate shall supersede in all respects that certain Perfection Certificate dated as of May 16,
2011. Borrower agrees that all references in the Loan Agreement to “Perfection Certificate” shall hereinafter be deemed to be a reference to the Updated Perfection Certificate. 

6. Integration. This Amendment and the Loan Documents represent the entire agreement about this subject matter and
supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Amendment and the Loan Documents merge into this Amendment and the
Loan Documents. 
 7. Counterparts. This Amendment may be executed in any number of counterparts and all of such
counterparts taken together shall be deemed to constitute one and the same instrument. 
 8. Effectiveness. This
Amendment shall be deemed effective upon (a) the due execution and delivery to Agent of (i) this Amendment by each party hereto and (ii) each of the closing deliverables set forth on the Document Agenda attached as Exhibit D hereto,
and (b) Borrower’s payment of (i) an amendment fee in an amount equal to Fifty Thousand Dollars ($50,000) to be shared between the Lenders pursuant to their respective Commitment Percentages, and (ii) Lenders’ Expenses.

 [Signature page follows.] 

 IN WITNESS WHEREOF, the parties hereto have
caused this Amendment to be duly executed and delivered as of the date first written above. 
  

			
	BORROWER:
	
	TETRAPHASE PHARMACEUTICALS, INC.
		
	By	 	 /s/ David Lubner

	Name:	 	 David Lubner

	Title:	 	 Senior Vice Predisent and Chief Financial Officer

	
	TETRAPHASE SECURITIES CORPORATION
		
	By	 	 /s/ David Lubner

	Name:	 	 David Lubner

	Title:	 	 Senior Vice Predisent and Chief Financial Officer

	
	AGENT AND LENDERS:
	
	SILICON VALLEY BANK, as Agent and a Lender
		
	By	 	 /s/ Kathleen Walsh

	Name:	 	 Kathleen Walsh

	Title:	 	 Relationship Manager

	
	OXFORD FINANCE LLC, as a Lender
		
	By	 	 /s/ Timothy A. Lex

	Name:	 	 Timothy A. Lex

	Title:	 	 Chief Operating Officer

	
	OXFORD FINANCE FUNDING TRUST 2012-1
	By: Oxford Finance LLC, as servicer
		
	By	 	 /s/ Timothy A. Lex

	Name:	 	 Timothy A. Lex

	Title:	 	 Chief Operating Officer

 Exhibit A 
 SCHEDULE 1.1 
 LENDERS AND COMMITMENTS 

Term Loans 
 Term A Loans 
  

									
	 Lender
	  	Term Loan Commitment	 	  	Commitment Percentage	 
	 Oxford Finance Funding Trust 2012-1
	  	$	750,000	  	  	 	50	% 
	 Silicon Valley Bank
	  	$	750,000	  	  	 	50	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	$	1,500,000	  	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 

 Term B Loans 

 

									
	 Lender
	  	Term Loan Commitment	 	  	Commitment Percentage	 
	 Oxford Finance Funding Trust 2012-1
	  	$	3,250,000	  	  	 	50	% 
	 Silicon Valley Bank
	  	$	3,250,000	  	  	 	50	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	$	6,500,000	  	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 

 Aggregate (all Term Loans) 

 

									
	 Lender
	  	Term Loan Commitment	 	  	Commitment Percentage	 
	 Oxford Finance Funding Trust 2012-1
	  	$	4,000,000	  	  	 	50	% 
	 Silicon Valley Bank
	  	$	4,000,000	  	  	 	50	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	$	8,000,000	  	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 

 2012 Term Loans 
 2012 Term A Loans 
  

									
	 Lender
	  	Term Loan Commitment	 	  	Commitment Percentage	 
	 Oxford Finance LLC
	  	$	3,100,000	  	  	 	50	% 
	 Silicon Valley Bank
	  	$	3,100,000	  	  	 	50	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	$	6,200,000	  	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 

 2012 Term B Loans 

 

									
	 Lender
	  	Term Loan Commitment	 	  	Commitment Percentage	 
	 Oxford Finance LLC
	  	$	1,500,000	  	  	 	50	% 
	 Silicon Valley Bank
	  	$	1,500,000	  	  	 	50	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	$	3,000,000	  	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 

 Aggregate (all 2012 Term Loans) 

 

									
	 Lender
	  	Term Loan Commitment	 	  	Commitment Percentage	 
	 Oxford Finance LLC
	  	$	4,600,000	  	  	 	50	% 
	 Silicon Valley Bank
	  	$	4,600,000	  	  	 	50	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	$	9,200,000	  	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 

 Exhibit B 
 EXHIBIT B 
 Loan Payment/Advance Request Form

 DISBURSEMENT LETTER 
 The undersigned, being the duly elected and acting                      of TETRAPHASE
PHARMACEUTICALS, INC., a Delaware corporation with offices located at 480 Arsenal Street, Suite 110, Watertown, Massachusetts 02472 (“Tetraphase”) and TETRAPHASE SECURITIES CORPORATION, a Massachusetts corporation with
offices located at 480 Arsenal Street, Suite 110, Watertown, Massachusetts 02472 (“Tetraphase Securities”; Tetraphase and Tetraphase Securities are referred to herein, individually and collectively, jointly and severally, as
“Borrower”), does hereby certify in such capacity to SILICON VALLEY BANK, as Agent (the “Agent”) in connection with that certain Loan and Security Agreement dated as of May 16, 2011 by and between Borrower, the
Lenders party thereto and Agent, as amended by that certain First Amendment to Loan and Security Agreement dated as of December     , 2012 by and between the Borrower, the Lenders party thereto and Agent (the “Loan
Agreement”; with other capitalized terms used below having the meanings ascribed thereto in the Loan Agreement) that: 

1. The representations and warranties made by Borrower in Section 5 of the Loan Agreement and in the other Loan Documents are
true and correct in all material respects as of the date hereof. 
 2. No event or condition has occurred that would constitute
an Event of Default under the Loan Agreement or any other Loan Document. 
 3. Borrower is in compliance with the covenants and
requirements contained in Sections 4, 6 and 7 of the Loan Agreement. 
 4. All conditions referred to in
Section 3 of the Loan Agreement to the making of the 2012 Term Loan to be made on or about the date hereof have been satisfied or waived by Agent. 
 5. No Material Adverse Change has occurred. 
 6. The undersigned is a Responsible
Officer. 
 7. Attached as Exhibit A is the amortization schedule for such 2012 Term Loan. 

8. The proceeds for the 2012 Term Loan shall be disbursed as follows: 

 

					
	Disbursement from Silicon Valley Bank:	  			
	 Loan Amount
	  	$.	            	  
		
	 Less:
	  			
	 — Lender’s Legal Fees and Expenses
	  	($	            	) 
	 — Interim Interest
	  	($	            	) 
		
	 Net Proceeds due from Silicon Valley Bank:
	  	$	            	  
		
	 Disbursement from Oxford:
	  			
	 Loan Amount
	  	$	            	  
		
	 Less:
	  			
	 — Interim Interest
	  	($	            	) 
		
	 Net Proceeds due from Oxford:
	  	$	            	  

 The aggregate net proceeds of the 2012 Term Loan in the amount of
$         shall be transferred to Borrower’s account as follows: 
  

			
	Account Name:	  	Tetraphase Securities Corporation
	Bank Name:	  	Silicon Valley Bank
	Bank Address:	  	3003 Tasman Drive, Santa Clara, CA 96054
	Account Number:	  	3300552835
	ABA Number:	  	121140399

 Dated:
                    , 2012 
  

			
	BORROWER:
	
	TETRAPHASE PHARMACEUTICALS, INC.
		
	By	 	  

	Name:	 	  

	Title:	 	  

	
	TETRAPHASE SECURITIES CORPORATION
		
	By	 	  

	Name:	 	  

	Title:	 	  

	
	AGENT AND LENDERS:
	
	SILICON VALLEY BANK, as Agent and a Lender
		
	By	 	  

	Name:	 	  

	Title:	 	  

	
	OXFORD FINANCE LLC, as a Lender
		
	By	 	  

	Name:	 	  

	Title:	 	  

	
	OXFORD FINANCE FUNDING TRUST 2012-1
	By: Oxford Finance LLC, as servicer
		
	By	 	  

	Name:	 	  

	Title:	 	  

 Exhibit A to Disbursement Letter 

Amortization Schedule – attached hereto 

 Exhibit C 
 EXHIBIT D 
 SECURED PROMISSORY NOTE 

 

			
	$        	 	Dated:                  , 2012

 FOR VALUE RECEIVED, the undersigned,
                    , a                     
corporation with offices located at                      (“Borrower”) HEREBY PROMISES TO PAY to the order of OXFORD FINANCE
LLC/SILICON VALLEY BANK (“Lender”) the principal amount of [                    ] MILLION DOLLARS
[($        )] or such lesser amount as shall equal the outstanding principal balance of the 2012 Term Loan made to Borrower by Lender, plus interest on the aggregate unpaid principal amount of 2012 Term Loan,
at the rates and in accordance with the terms of the Loan and Security Agreement dated May 16, 2011 by and among Borrower, Silicon Valley Bank, as Agent and as a Lender, and the Lenders from time to time party thereto, as amended by that
certain First Amendment to Loan and Security Agreement dated as December     , 2012 by and among Borrower, Silicon Valley Bank, as Agent and as a Lender, and the Lenders from time to time party thereto (as amended, restated,
supplemented or otherwise modified from time to time, the “Loan Agreement”). If not sooner paid, the entire principal amount and all accrued and unpaid interest hereunder shall be due and payable on the applicable 2012 Maturity Date as set
forth in the Loan Agreement. Any capitalized term not otherwise defined herein shall have the meaning attributed to such term in the Loan Agreement. 
 Borrower agrees to pay any initial partial monthly interest payment from the date the 2012 Term Loan is made to Borrower under this Secured Promissory Note (this “Note”) to the first Payment
Date (“Interim Interest”) on the first Payment Date. 
 Principal, interest and all other amounts due with respect to the 2012 Term
Loan, are payable in lawful money of the United States of America to Lender as set forth in the Loan Agreement and this Note. The principal amount of this Note and the interest rate applicable thereto, and all payments made with respect thereto,
shall be recorded by Lender and, prior to any transfer hereof, endorsed on the grid attached hereto which is part of this Note. 
 The Loan
Agreement, among other things, (a) provides for the making of a secured 2012 Term Loan by Lender to Borrower, and (b) contains provisions for acceleration of the maturity hereof upon the happening of certain stated events. 

This Note may not be prepaid except as set forth in Section 2.2.1 (c) and Section 2.2.1(d) of the Loan Agreement. 

This Note and the obligation of Borrower to repay the unpaid principal amount of the 2012 Term Loan, interest on the 2012 Term Loan and all other amounts
due Lender under the Loan Agreement is secured under the Loan Agreement. 
 Presentment for payment, demand, notice of protest and all other
demands and notices of any kind in connection with the execution, delivery, performance and enforcement of this Note are hereby waived. 

Borrower shall pay all reasonable fees and expenses, including, without limitation, reasonable attorneys’ fees and costs, incurred by Lender in the
enforcement or attempt to enforce any of Borrower’s obligations hereunder not performed when due. 
 This Note shall be governed by, and
construed and interpreted in accordance with, the internal laws of the State of New York. 
 Note Register; Ownership of Note. The
ownership of an interest in this Note shall be registered on a record of ownership maintained by Lender or its agent. Notwithstanding anything else in this Note to the contrary, the right to the principal of, and stated interest on, this Note may be
transferred only if the transfer is registered on such record of ownership and the transferee is identified as the owner of an interest in the obligation. Borrower shall be entitled to treat the registered holder of this Note (as recorded on such
record of ownership) as the owner in fact thereof for all purposes and shall not be bound to recognize any equitable or other claim to or interest in this Note on the part of any other person or entity. 

 IN WITNESS WHEREOF, Borrower has caused this Note to be duly executed by one of its officers
thereunto duly authorized on the date hereof. 
  

			
	BORROWER:
	
	TETRAPHASE PHARMACEUTICALS, INC.
		
	By	 	  

	Name:	 	  

	Title:	 	  

	
	TETRAPHASE SECURITIES CORPORATION
		
	By	 	  

	Name:	 	  

	Title:	 	  

 Exhibit D 

 
  
 SILICON VALLEY BANK 
 OXFORD FINANCE LLC 

TERM LOAN FACILITY 
 WITH 
 TETRAPHASE PHARMACEUTICALS, INC. 

 
  
  

			
	 	  	 Responsible
Party1

		
	AUTHORITY DOCUMENTS	  	
		
	 I. Tetraphase Pharmaceuticals, Inc. (“TPI”)
	  	
		
	 Certificate of Incorporation, as amended (certified by Delaware SOS within 30 days of the 2012 Effective Date)
	  	BC
		
	 By-Laws, as amended
	  	BC
		
	 Certificate of Good Standing (Long Form) – Delaware
	  	BC
		
	 Certificate of Foreign Qualification – Massachusetts
	  	BC
		
	 Secretary’s Corporate Borrowing Certificate
	  	AC
		
	 Copy of Shareholder Consent
	  	BC
		
	 II. Tetraphase Securities Corporation (“TSC”)
	  	
		
	 Articles of Organization, as amended (certified by Massachusetts SOC within 30 days of the 2012 Effective Date)
	  	BC
		
	 By-Laws, as amended
	  	BC
		
	 Certificate of Good Standing (Long Form) – Massachusetts
	  	BC
		
	 Certificates of Foreign Qualification – as applicable
	  	N/A
		
	 Secretary’s Corporate Borrowing Certificate
	  	AC
		
	 Shareholder Consent, if necessary
	  	N/A

  

	1 	 AC = Agent’s Counsel - Riemer & Braunstein LLP 

	 	BC = Borrower’s Counsel – Wilmer, Cutler, Pickering Hale & Dorr LLP 

			
	 	  	 Responsible

Party1

		
	LOAN DOCUMENTS	  	
		
	 First Amendment to Loan and Security Agreement
	  	AC
		
	 Secured Promissory Notes

(a) SVB
 (b) Oxford
	  	AC
		
	 Disbursement Letter
	  	AC
		
	 Payment Advance Form
	  	AC
		
	 Perfection Certificate (to be completed by Borrower and delivered to Lenders prior to closing)
	  	AC/BC
		
	 Post-Closing Letter, if necessary
	  	AC
		
	 Warrants
  

SVB
  

Oxford
	  	AC
		
	 MISCELLANEOUS
	  	
		
	 UCC and other Lien Searches for each Borrower
	  	AC
		
	 Intellectual Property Search Results
	  	AC
		
	 Legal Opinion of Borrower’s counsel
	  	BC
		
	 Evidence of Insurance (On Acord 28 and Acord 25 Forms)
	  	BC
		
	 Insurance Policy Endorsements
	  	BC
		
	 Invoice for Loan Charges
	  	AC
		
	 Payment of Fees
	  	Borrower
		
	 Lenders’ Fees

 
 Legal Fees and Expenses
	  	
		
	 Capitalization Table
	  	BCEX-10.24

 EXHIBIT 10.24 
 THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO
THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE
SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 
 WARRANT TO PURCHASE STOCK 
  

			
	 Company: Tetraphase Pharmaceuticals, Inc., a Delaware corporation
 Number of Shares: As set forth below.
 Class of Stock: Series C Convertible Participating Preferred
Stock, $0.001 par value per share

	Warrant Price:	 	$0.2571, subject to adjustment
	Issue Date:	 	December 20, 2012
	Expiration Date:	 	December 20, 2022
	Credit Facility:	 	This Warrant is issued in connection with that certain First Amendment to Loan and Security Agreement of even date herewith among Silicon Valley Bank, Oxford Finance LLC, Tetraphase
Securities Corporation, and the Company which amends that certain Loan and Security Agreement, dated May 16, 2011 among said parties (as amended, the “Loan Agreement”).

 THIS WARRANT CERTIFIES THAT, for good and valuable consideration, SILICON VALLEY BANK (Silicon Valley
Bank, together with any successor or permitted assignee or transferee of this Warrant or of any shares issued upon exercise hereof, is referred to hereinafter as “Holder”) is entitled to purchase the number of fully paid and nonassessable
shares (the “Shares”) of the class of securities (the “Class”) of the above-named company (the “Company”) as set forth below at the above-stated Warrant Price, all as set herein and as adjusted pursuant to
Article 2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. 
 A. Number of
Shares. This Warrant shall be exercisable for the Initial Shares, plus the Additional Shares (if any), and subject to adjustment from time to time in accordance with the provisions of this Warrant. 

(i) Initial Shares. As used herein, “Initial Shares” means upon the draw of any portion of the 2012 Term A Loan (as
defined in the Loan Agreement) made to the Company under the Loan Agreement, this Warrant automatically become exercisable for 482,303 shares of the Class, subject to further adjustment thereafter from time to time in accordance with the provisions
of this Warrant. 
 (ii) Additional Shares. Upon the draw of any portion of the 2012 Term B Loan (as defined in the Loan
Agreement) made to the Company under the Loan Agreement, this Warrant automatically shall also become exercisable for an additional 233,372 shares of the Class at the Warrant Price in effect at such time, all subject to adjustment thereafter from
time to time in accordance with the provisions of this Warrant. Cumulatively, the additional shares of the Class for which the Warrant becomes exercisable for pursuant to this paragraph A(ii) are referred to as the “Additional Shares”.

 ARTICLE 1. EXERCISE. 
 1.1 Method of Exercise. Holder may exercise this Warrant by delivering the original of this Warrant together with a duly executed Notice of Exercise in substantially the form attached as Appendix 1
to the principal office of the Company. Unless Holder is exercising the conversion right set forth in Article 1.2, Holder shall also deliver to the Company a certified or bank check, wire transfer of immediately available funds (to an account
designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares being purchased. 
 1.2 Conversion Right. In lieu of exercising this Warrant as specified in Article 1.1, Holder may from time to time elect to convert this Warrant, in whole or in part, on a cashless basis by
delivering the original of this Warrant together with a duly executed Notice of Exercise and by canceling a portion of this Warrant in payment of the Warrant Price payable in respect of the number of Shares purchased upon such exercise. In the event
of an exercise pursuant to this Article 1.2, the number of Shares issued to the holder shall be determined by dividing (a) the aggregate fair market value of the Shares for which this Warrant is being exercised (which shall include both the
number of Shares issued to the Holder and the number of Shares subject to the portion of the Warrant being cancelled) minus the aggregate Warrant Price of such Shares by (b) the fair market value of one Share. The fair market value of the
Shares shall be determined pursuant to Article 1.3. 
 1.3 Fair Market Value. If the Company’s common stock is then
traded or quoted on a nationally recognized securities exchange, inter-dealer quotation system or over-the-counter market (a “Trading Market”) and the Class is common stock, the fair market value of a Share shall be the closing price or
last sale price of a share of common stock reported for the Business Day immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the Company. If the Company’s common stock is then traded in a
Trading Market and the Class is a series of the Company’s convertible preferred stock, the fair market value of a Share shall be the closing price or last sale price of a share of the Company’s common stock reported for the Business Day
immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the Company multiplied by the number of shares of the Company’s common stock into which a Share is then convertible. If the Company’s
common stock is not traded in a Trading Market, the Board of Directors of the Company shall determine the fair market value of a Share in its reasonable good faith judgment. 

  
 2 

 1.4 Delivery of Certificate and New Warrant. Promptly after Holder exercises or
converts this Warrant and, if applicable, the Company receives payment of the aggregate Warrant Price, the Company shall deliver to Holder certificates for the Shares acquired and, if this Warrant has not been fully exercised or converted and has
not expired, a new Warrant representing the Shares not so acquired. 
 1.5 Replacement of Warrants. 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 amount to the
Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor. 

1.6 Treatment of Warrant Upon Acquisition of Company. 
 1.6.1 “Acquisition”. For the purpose of this Warrant, “Acquisition” means any sale, license, or other disposition of all or substantially all of the assets of the Company, or
any reorganization, consolidation, merger or sale of outstanding capital stock of the Company where the holders of the Company’s securities before the transaction beneficially own less than a majority of the outstanding voting securities of the
surviving entity after the transaction. 
 1.6.2 Treatment of Warrant at Acquisition. 

A) Holder agrees that, in the event of an Acquisition in which the consideration is solely cash, solely Marketable Securities, or a combination of cash
and Marketable Securities, Holder shall either (a) exercise its conversion or purchase right under this Warrant and such exercise will be deemed effective immediately prior to the closing of such Acquisition and any part of this Warrant not
exercised by the closing of such Acquisition will expire or (b) elect not to exercise its conversion or purchase right under this Warrant, in which case this Warrant will expire upon the closing of such Acquisition. The Company shall provide
the Holder with written notice of any Acquisition (together with such reasonable information as the Holder may request in connection with such Acquisition) not less than ten (10) days prior to the closing of the proposed Acquisition.

 B) Holder agrees that, in the event of an Acquisition that is an “arms length” sale of all or substantially all of the
Company’s assets to a third party that is not an Affiliate (as defined below) of the Company (a “True Asset Sale”), Holder shall exercise its conversion or purchase right under this Warrant and such exercise will be deemed effective
immediately prior to the closing of such Acquisition and any part of this Warrant not exercised by the closing of such Acquisition will expire; provided, however, that if the Company continues as a going concern following the closing of any such
True Asset Sale and Holder elects not to exercise the Warrant, this Warrant will continue to be exercisable until the Expiration Date. The Company shall provide the Holder with such reasonable information as the Holder may request in connection with
such contemplated Acquisition, which is to be delivered to Holder not less than ten (10) days prior to the closing of the proposed Acquisition. 
 C) Upon the closing of any Acquisition other than those particularly described in subsections (A) and (B) above, the successor entity shall assume the obligations of this Warrant, and this
Warrant shall be exercisable for the same securities, cash, and 

  
 3 

 
property as would be payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for the Acquisition and
subsequent closing. The Warrant Price and/or number of Shares shall be adjusted accordingly. 
 As used herein “Affiliate” shall mean
any person or entity that owns or controls directly or indirectly ten percent (10%) or more of the stock of Company, any person or entity that controls or is controlled by or is under common control with such persons or entities, and each of
such person’s or entity’s officers, directors, joint venturers or partners, as applicable. 
 As used herein, “Marketable
Securities” means securities meeting all of the following requirements: (i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), and is then current in its filing of all required reports and other information under the Act and the Exchange Act; (ii) the class and series of shares or other security of the issuer that would be received by Holder
in connection with the Acquisition were Holder to exercise this Warrant on or prior to the closing thereof is then traded in Trading Market, and (iii) following the closing of such Acquisition, Holder would not be restricted from publicly
re-selling all of the issuer’s shares and/or other securities that would be received by Holder in such Acquisition were Holder to exercise or convert this Warrant in full on or prior to the closing of such Acquisition, except to the extent that
any such restriction (x) arises solely under federal or state securities laws, rules or regulations, and (y) does not extend beyond six (6) months from the closing of such Acquisition. 

ARTICLE 2. ADJUSTMENTS TO THE SHARES. 
 2.1 Stock Dividends, Splits, Etc. If the Company declares or pays a dividend on the outstanding shares of the Class payable in Common Stock or other securities, then upon exercise of this Warrant,
for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of securities to which Holder would have been entitled had Holder owned the Shares as of the record date for the dividend. If the Company subdivides the
outstanding shares of the Class by reclassification or otherwise into a greater number of shares or takes any other action which increase the amount of Common Stock into which the one share of the Class is convertible, the number of Shares
purchasable hereunder shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the outstanding shares of the Class are combined or consolidated, by reclassification or otherwise, into a lesser number of shares
of the Class, the Warrant Price shall be proportionately increased and the number of Shares shall be proportionately decreased. 

2.2 Reclassification, Exchange, Combinations or Substitution. Upon any reclassification, exchange, substitution, or other event
that results in a change of the number and/or class of the securities issuable upon exercise or conversion of this Warrant (other than those transactions contemplated by Article 1.6 or Article 2.1), Holder shall be entitled to receive, upon exercise
or conversion of this Warrant, the number and kind of securities and property that Holder would have received for the Shares if this Warrant had been exercised immediately before such reclassification, exchange, substitution, or other event. Such an
event shall include, without limitation, any automatic conversion of the outstanding or issuable securities of the Company of the 

  
 4 

 
same class or series as the Shares to Common Stock pursuant to the terms of the Company’s Amended and Restated Certificate of Incorporation, as amended from time to time (the
“Certificate of Incorporation”). The Company or its successor shall promptly issue to Holder an amendment to this Warrant setting forth the number and kind of such new securities or other property issuable upon exercise or conversion of
this Warrant as a result of such reclassification, exchange, substitution or other event that results in a change of the number and/or class of securities issuable upon exercise or conversion of this Warrant. The amendment to this Warrant shall
provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 2 including, without limitation, adjustments to the Warrant Price and to the number of securities or property issuable
upon exercise of the new Warrant. The provisions of this Article 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events. 
 2.3 Adjustments for Diluting Issuances. The number of shares of Common Stock issuable upon conversion of the Shares shall be subject to adjustment, from time to time in the manner set forth in the
Certificate of Incorporation as if the Shares were issued and outstanding on and as of the date of any such required adjustment. The provisions set forth for the Class in the Certificate of Incorporation relating to the above in effect as of the
Issue Date may not be amended, modified or waived, without the prior written consent of Holder unless such amendment, modification or waiver affects the rights associated with the Shares in the same manner as such amendment, modification or waiver
affects the rights associated with all other shares of Class. 
 2.4 No Impairment. The Company shall not, by amendment
of its Certificate of Incorporation or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the
terms to be observed or performed under this Warrant by the Company, but shall at all times in good faith assist in carrying out of all the provisions of this Article 2 and in taking all such action as may be necessary or appropriate to protect
Holder’s rights under this Article against impairment. 
 2.5 Fractional Shares. No fractional Shares shall be
issuable upon exercise or conversion of the Warrant and the number of Shares to be issued shall be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise or conversion of the Warrant, the Company shall
eliminate such fractional share interest by paying Holder the amount computed by multiplying the fractional interest by the fair market value of a full Share. 
 2.6 Certificate as to Adjustments. Upon each adjustment of the Warrant Price, Class and/or number of Shares, the Company shall promptly notify Holder in writing, and, at the Company’s expense,
promptly compute such adjustment, and furnish Holder with a certificate of its Chief Financial Officer setting forth such adjustment and the facts upon which such adjustment is based. The Company shall, upon written request, furnish Holder a
certificate setting forth the Warrant Price, Class and number of Shares in effect upon the date thereof and the series of adjustments leading to such Warrant Price, Class and number of Shares. 

  
 5 

 ARTICLE 3. REPRESENTATIONS AND COVENANTS OF THE COMPANY. 

3.1 Representations and Warranties. The Company represents and warrants to, and agrees with, the Holder as follows, as of the
Issue Date: 
 (a) The initial Warrant Price referenced on the first page of this Warrant is not greater than the price per
share at which shares of the same class and series as the Shares were last issued in an arms-length transaction in which at least $500,000 of such shares were sold. 
 (b) All Shares which may be issued upon the exercise of the purchase right represented by this Warrant, and all securities, if any, issuable upon conversion of the Shares, shall, upon issuance, be duly
authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. 

(c) The Company’s capitalization table attached hereto as Schedule 1 is true and complete as of the Issue Date. 

3.2 Notice of Certain Events. If the Company proposes at any time (a) to declare any dividend or distribution upon the
outstanding shares of the same class and series as the Shares, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to offer for subscription or sale pro rata to the holders of the outstanding
shares of the same class and series as the Shares any additional shares of any class or series of the Company’s stock (other than pursuant to contractual pre-emptive rights); (c) to effect any reclassification, reorganization or
recapitalization of any of its stock; (d) to effect an Acquisition or to liquidate, dissolve or wind up; or (e) offer holders of registration rights the opportunity to participate in an underwritten public offering of the company’s
securities for cash, then, in connection with each such event, the Company shall give Holder: (1) at least 10 days prior written notice of the date on which a record will be taken for such dividend, distribution, or subscription rights (and
specifying the date on which the holders of shares of the same class and series as the Shares will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in (c) and (d) above; (2) in the
case of the matters referred to in (c) and (d) above at least 10 days prior written notice of the date when the same will take place (and specifying the date on which the holders of shares of the same class and series as the Shares will be
entitled to exchange their shares for the securities or other property deliverable upon the occurrence of such event); and (3) in the case of the matter referred to in (e) above, the same notice as is given to the holders of such
registration rights. 
 3.3 Intentionally Omitted. 
 3.4 No Shareholder Rights. Except as provided in this Warrant, Holder will not have any rights as a shareholder of the Company until the exercise of this Warrant. 

3.5 Certain Information. At all times prior to the earlier to occur of (i) the IPO, or (ii) the Acquisition of the
Company by an entity subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended, the Company agrees to provide Holder at any time and from time to time with such information as
Holder may reasonably request for purposes of Holder’s compliance 

  
 6 

 
with regulatory, accounting and reporting requirements applicable to Holder. Holder agrees to treat and hold all such information provided by the Company in confidence in accordance with the
provisions of Section 12.9 of the Loan Agreement (regardless of whether the Loan Agreement is still then in force and effect). 
 ARTICLE
4. REPRESENTATIONS, WARRANTIES OF THE HOLDER. The Holder represents and warrants to the Company as follows: 
 4.1
Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by Holder will be acquired for investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or
distribution within the meaning of the Act. Holder also represents that it has not been formed for the specific purpose of acquiring this Warrant or the Shares. 
 4.2 Disclosure of Information. Holder has received or has had full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the
acquisition of this Warrant and its underlying securities. Holder further has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities
and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to Holder or to which Holder has access. 

4.3 Investment Experience. Holder understands that the purchase of this Warrant and its underlying securities involves substantial
risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder’s investment in this Warrant and its underlying securities and has such
knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business relationship with the
Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons. 

4.4 Accredited Investor Status. Holder is an “accredited investor” within the meaning of Regulation D promulgated under
the Act. 
 4.5 The Act. Holder understands that this Warrant and the Shares issuable upon exercise or conversion hereof
have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent as expressed herein. Holder understands that this
Warrant and the Shares issued upon any exercise or conversion hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or unless exemption from such registration and
qualification are otherwise available. 
 4.6 Lockup Agreements. The Holder, if the Company or the managing
underwriter(s) so request in connection with the Company’s initial underwritten public offering, will not, transfer or dispose of any equity securities of the Company, without the prior written consent of the Company or such underwriter(s) and
provided that the officers and directors of the Company and all holders (other than, for 

  
 7 

 
purposes of this determination, such Holder) of at least two percent (2%) of all of the issued and outstanding shares of capital stock of the Company (determined on an as-converted basis)
also agree not to, transfer or dispose any equity securities of the Company, including any sale pursuant to Rule 144 of the Commission under the Securities Act, during the seven (7) days prior to, and during the one hundred eighty
(180) day period commencing on the effective date of such initial underwritten public offering, subject to extension in order to ensure FINRA compliance, except in connection with such initial underwritten public offering. The Company may
impose stop-transfer instructions with respect to the Shares or other securities subject to the foregoing restriction until the end of such 180-day period. Any discretionary waiver or termination of the foregoing restriction by the Company or the
underwriters shall apply pro rata to all Holders, based on the number of Shares held by such Holders, and prompt written notice of such discretionary waiver or termination shall be given to all Holders of the Shares. 

ARTICLE 5. MISCELLANEOUS. 
 5.1 Term: This Warrant is exercisable in whole or in part at any time and from time to time on or before the Expiration Date. 

5.2 Legends. This Warrant and the Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if
any) shall be imprinted with a legend in substantially the following form: 
 THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE
NOT BEEN REGISTERED UNDER THE ACT, OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 OF THAT CERTAIN WARRANT TO PURCHASE STOCK ISSUED BY THE COMPANY TO SILICON VALLEY BANK DATED AS OF DECEMBER 20, 2012, MAY
NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE
SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 
 5.3 Compliance with
Securities Laws on Transfer. This Warrant and the Shares issuable upon exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part
without compliance with applicable federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as
reasonably requested by the Company). The Company shall not require Holder to provide an opinion of counsel if the transfer is to SVB Financial Group (Silicon Valley Bank’s parent company) or any other affiliate of Holder, provided that any
such transferee is an “accredited investor” as defined in Regulation D promulgated under the Act. 

  
 8 

 5.4 Transfer Procedure. After receipt by Silicon Valley Bank (“Bank”) of
the executed Warrant, Bank will transfer all of this Warrant to SVB Financial Group, Holder’s parent company. Subject to the provisions of Article 5.3 and upon providing the Company with written notice, SVB Financial Group and any subsequent
Holder may transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the securities issuable directly or indirectly, upon conversion of the Shares, if any) to any transferee, provided, however, in connection with
any such transfer, SVB Financial Group or any subsequent Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will surrender this
Warrant to the Company for reissuance to the transferee(s) (and Holder if applicable). The Company may refuse to transfer this Warrant or the Shares to any person who directly competes with the Company, unless, in either case, the stock of the
Company is publicly traded. 
 5.5 Notices. All notices and other communications from the Company to the Holder, or vice
versa, shall be deemed delivered and effective when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as may have been furnished to the Company or Holder, as the case may (or on the first
Business Day after transmission by facsimile) be, in writing by the Company or such holder from time to time. All notices to Holder shall be addressed as follows until the Company receives notice of a change of address in connection with a transfer
or otherwise: 
 SVB Financial Group 
 Attn: Treasury Department 
 3003 Tasman Drive, HA 200 

Santa Clara, CA 95054 
 Telephone: 408-654-7400 
 Facsimile: 408-496-2405 

Notice to the Company shall be addressed as follows until Holder receives notice of a change in address: 

Tetraphase Pharmaceuticals, Inc. 
 Attn: Chief Operating Officer 
 480 Arsenal Street, Suite 110 

Watertown, MA 02462 
 Telephone: 617-715-3551 
 Facsimile: 617-715-3557 

5.6 Amendment and Waiver. This Warrant and any term hereof may be amended, waived, discharged or terminated only by an instrument
in writing signed by the Company and the Holder. 
 5.7 Attorney’s Fees. In the event of any dispute between the
parties concerning the terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 

  
 9 

 5.8 Automatic Conversion upon Expiration. In the event that, upon the Expiration
Date, the fair market value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Article 1.3 above is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be
deemed on and as of such date to be converted pursuant to Article 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised or converted, and the Company shall promptly deliver a certificate
representing the Shares (or such other securities) issued upon such conversion to Holder. 
 5.9 Counterparts. This
Warrant may be executed in counterparts, all of which together shall constitute one and the same agreement. 
 5.10 Governing
Law. This Warrant shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to its principles regarding conflicts of law. 

5.11 Business Days. “Business Day” is any day that is not a Saturday, Sunday or a day on which
Silicon Valley Bank is closed. 
  

			
	“COMPANY”
	
	TETRAPHASE PHARMACEUTICALS, INC.
		
	By:	 	 /s/ David Lubner

		
	Name:	 	 David Lubner

		 	(Print)
	Title:	 	Senior Vice President and Chief Financial Officer
	
	“HOLDER”
	
	SILICON VALLEY BANK
		
	By:	 	 /s/ Kathleen Walsh

		
	Name:	 	 Kathleen Walsh

		 	(Print)
	Title:	 	Relationship Manager

  
 10 

 APPENDIX 1 
 NOTICE OF EXERCISE 
 1. Holder elects to purchase
                 shares of the Common/Series              Preferred [strike one] Stock of
             pursuant to the terms of the attached Warrant, and tenders payment of the purchase price of the shares in full. 

[or] 
 1.
Holder elects to convert the attached Warrant into Shares/cash [strike one] in the manner specified in the Warrant. This conversion is exercised for              of the Shares covered by
the Warrant. 
 [Strike paragraph that does not apply.] 

2. Please issue a certificate or certificates representing the shares in the name specified below: 

 

					
		 	  
	 	
		 	 Holders Name
	 	
			
		 	  
	 	
			
		 	  
	 	
		 	 (Address)
	 	

 3. By its execution below and for the benefit of the Company, Holder hereby restates each of the
representations and warranties in Article 4 of the Warrant as the date hereof. 
  

			
	HOLDER:
	
	  

		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

		
	(Date):	 	  

  
 Appendix 1 - 1

 SCHEDULE 1 
 Company Capitalization Table 
 Tetraphase Pharmaceuticals, Inc. 

 

									
	 
Type of Security
	  	Number of Authorized
Shares	 	  	Number of Outstanding
Shares	 
	 Common Stock
	  	 	317,789,510	  	  	 	9,322,696	  
	 Series A-1 Convertible Participating Preferred Stock
	  	 	10,072,000	  	  	 	10,040,000	  
	 Series A-2 Convertible Participating Preferred Stock
	  	 	13,095,646	  	  	 	13,095,646	  
	 Series B Convertible Participating Preferred Stock
	  	 	57,471,225	  	  	 	57,471,225	  
	 Series C Convertible Participating Preferred Stock
	  	 	178,405,286	  	  	 	175,418,122	  

  
 Schedule 1 - 1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00212-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00212-of-00352.parquet"}]]