Document:

EX-10.1

 Exhibit 10.1 

OLLIE’S BARGAIN OUTLET, INC. 

6295 Allentown Boulevard — Suite A 

Harrisburg, Pennsylvania 17112 

November 18, 2015 
 Jay Stasz 

2083 Montane Drive East 
 Golden, CO 80401 

Dear Jay: 
 This letter (the
“Agreement”) will set forth the terms of your employment with Ollie’s Bargain Outlet, Inc. (the “Company”), an indirect, wholly-owned subsidiary of Ollie’s Bargain Outlet Holdings, Inc. (“OBO
Holdings”). 
 WHEREAS, the Company desires to employ you and you desire to be employed by the Company on the terms and conditions
set forth in the Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants contained herein, the parties
hereto agree as follows: 
 1. Effective Date; Term. Your employment hereunder shall commence effective upon November 18, 2015
(the “Effective Date”) and continue until terminated in accordance with Section 7 hereof. The period of your employment with the Company as set forth in this Section 1 is referred to herein as the “Term of
Employment.” 
 2. Duties, etc. During the Term of Employment you will be the Senior Vice President of Finance and Chief
Accounting Officer. In this capacity, you will perform the duties typically assigned to such a position, and shall report to the Executive Vice President and Chief Financial Officer. You will be accountable to, and will also have such powers, duties
and 

  
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responsibilities as may from time to time be prescribed by, the Executive Vice President and Chief Executive Officer of the Company; provided, that such duties and responsibilities are
consistent with the position of Senior Vice President of Finance and Chief Accounting Officer. You will perform and discharge your duties and responsibilities faithfully, diligently and to the best of your ability. You will devote substantially all
of your working time and efforts to the business and affairs of the Company Group (as defined in Section 6); provided, however, that the foregoing shall not restrict your engaging in civic, charitable and personal investment
activities which do not materially affect your availability to any member of the Company Group during working time. 
 3. Base
Salary. As compensation for all services provided by you during the Term of Employment, and subject to your performance in accordance with the terms of this Agreement, the Company shall pay you a base salary at a rate of $250,000 per annum (the
per annum amount in effect from time to time being referred to herein as the “Base Salary”). All payments under this Section 3 will be made in accordance with the regular payroll practices of the Company. The amount of Base
Salary shall be reevaluated annually by the Compensation Committee of the Board of Directors of OBO Holdings, or, if no such committee exists, the Board of Directors of OBO Holdings (the “Board”), with the input of the Chief
Executive Officer of the Company; provided, that the Base Salary may not be reduced to an amount below $250,000. Your Base Salary for 2015 will be pro-rated for the actual number of days you are employed in the calendar year 2015. 

4. Performance Bonus. In addition to your Base Salary, you will be eligible for an annual bonus (the “Bonus”) for each
fiscal year during the Term of Employment. As indicated in the following table, with respect to each fiscal year during the Term of Employment, if 

  
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Company EBITDA for such fiscal year: (a) equals the Target EBITDA for such fiscal year, your Bonus for such fiscal year shall be equal to 50% of your Base Salary, (b) is equal to or
less than the Minimum EBITDA Threshold for such fiscal year, your Bonus for such fiscal year shall be $0, (c) is equal to or greater than the Maximum EBITDA Threshold for such fiscal year, your Bonus for such fiscal year shall be 80% of your
Base Salary, or (d) is greater than Target EBITDA but less than the Maximum EBITDA Threshold for such fiscal year, or is less than Target EBITDA but greater than the Minimum EBITDA Threshold for such fiscal year, your Bonus for such fiscal year
shall be determined by interpolating on a straight line basis between the Bonus amounts set forth in the following table and the corresponding level of Company EBITDA. 
  

			
	 Company EBITDA for fiscal year:
	  	Bonus Amount
	 Equal to or greater than Maximum EBITDA Threshold
	  	80% of Base Salary
	 Equal to Target EBITDA
	  	50% of Base Salary
	 Equal to or less than Minimum EBITDA Threshold
	  	$0

 You must be employed on the last day of any fiscal year and the day payments are made in order to be eligible for a Bonus for
that fiscal year. The Bonus for each fiscal year shall be paid to you at the same time that other senior executives of the Company receive bonus payments, but in no event later than April 15 of the fiscal year following the fiscal year to which
the Bonus relates. 

  
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 For purposes of this Agreement: 

“Company EBITDA” shall mean, with respect to a fiscal year of OBO Holdings, the sum of (without duplication):
(a) Consolidated Net Income for such fiscal year and (b) to the extent Consolidated Net Income has been reduced thereby, (i) all income taxes of the Company Group recorded as a tax provision in accordance with GAAP for such period
(other than income taxes attributable to items (a), (b), and (f) included in the definition of Consolidated Net Income), (ii) Consolidated Interest Expense, and (iii) Consolidated Non-Cash Charges, all as determined on a consolidated
basis for the Company Group in accordance with GAAP, and (iv) any non-cash equity compensation expense and store closing costs. The components of Company EBITDA will be determined by the independent auditor of the Company Group in accordance
with GAAP. 
 “Consolidated Interest Expense” shall mean, with respect to a fiscal year of OBO Holdings, the sum of
(without duplication): (a) the aggregate of the interest expense of the Company Group for such fiscal year determined on a consolidated basis in accordance with GAAP and (b) the interest component of capitalized lease obligations accrued
by the Company Group during such period as determined on a consolidated basis in accordance with GAAP, less (c) the amount of any interest income received by the Company Group during such fiscal period and (d) deferred financing costs and
bank administration fees. 
 “Consolidated Net Income” shall mean, with respect to a fiscal year of OBO Holdings, the
aggregate net income (or loss) of the Company Group for such fiscal year on a consolidated basis, determined in accordance with GAAP, which shall reflect the full charge resulting from the payment by the Company Group of any base salary, bonus
compensation (including without limitation the Bonus) or other payment to any person pursuant to any employment agreement with any member of the Company Group; provided, that there shall be excluded from the 

  
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calculation thereof: (a) after-tax gains and losses from asset sales or abandonments or reserves relating thereto, (b) after-tax items classified as extraordinary gains or losses,
(c) the net income (or loss) of any subsidiary of OBO Holdings to the extent that the declaration of dividends or similar distributions by that subsidiary is restricted by a contract, operation of law or otherwise, (d) the net income (or
loss) of any other person or entity, other than a subsidiary of OBO Holdings, except to the extent of cash dividends or distributions paid to the Company Group by such other person or entity, (e) in the case of a successor to any member of the
Company Group by consolidation or merger or as a transferee of the assets of such member of the Company Group, any net income (or loss) of the successor corporation prior to such consolidation, merger or consolidation of assets, (f) management
fees, if any, paid by the Company Group to the CCMP Stockholders (as defined in the Stockholders’ Agreement) and their affiliates and (g) the after-tax impact of nonrecurring items of income and expense that are included in the
determination of net income related to: (i) executive officer severance payments, (ii) discontinued operations, (iii) insurance losses and recoveries, (iv) write-up/write-down of assets related to acquisitions,
(v) cumulative effects of accounting changes and (vi) securities registration expenses. 
 “Consolidated Non-Cash
Charges” shall mean, with respect to a fiscal year of OBO Holdings, the aggregate depreciation and amortization of the Company Group reducing Consolidated Net Income of the Company for such fiscal year. 

“GAAP” shall mean generally accepted accounting principles in the United States as in effect from time to time. 

“Maximum EBITDA Threshold”, “Minimum EBITDA Threshold” and “Target EBITDA” shall mean, for
any fiscal year of OBO Holdings, such amounts as shall be determined 

  
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by the Compensation Committee of the Board, or, if no such committee exists, the Board (in each case, with the CCMP Consent); provided, that the Maximum EBITDA Threshold shall in no event
be more than 15% higher than the Target EBITDA and the Minimum EBITDA Threshold shall in no event be more than 15% lower than the Target EBITDA; provided, further, that after setting the Maximum EBITDA Threshold, Minimum EBITDA
Threshold and Target EBITDA for any fiscal year, the Compensation Committee of the Board, or, if no such committee exists, the Board (in each case, with the CCMP Consent) may subsequently adjust such amounts in the event of any acquisition,
disposition or other material transaction or event with respect to the Company Group with a view to maintaining the incentive nature of the Bonus. 

5. Stock Options; Benefits. 

(a) On or promptly following the Effective Date, you shall be granted stock options to purchase 50,000 shares of common stock of OBO Holdings,
Inc. (the “Option”). The Option shall be issued pursuant to, and shall be subject to the terms and conditions of, the OBO Holdings, Inc. 2015 Equity Incentive Plan and OBO Holdings, Inc. 2015 Equity Incentive Plan Nonqualified Stock
Option Award Agreement substantially in the form attached hereto as Exhibit A. 
 (b) You will be eligible to receive three weeks, or
fifteen (15) days, of Paid Time Off (“PTO”) per year, pro-rated for partial years. Beginning with your 6th calendar year of employment with the Company, you will be eligible
to receive twenty (20) days of PTO per year. You will not be entitled to any cash, severance payment or other compensation for PTO not taken, and unused PTO may be carried over up to a maximum of five (5) days to succeeding

  
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years. You will be eligible to participate in, all benefit and welfare plans made generally available to senior management executives of the Company (including health, dental, vision, short and
long term disability, life and AD&D, and business travel accident insurance plans), as in effect from time to time, all subject to plan terms and generally applicable Company policies. From the Effective Date through your Termination Date (as
defined in Section 6), you will also be entitled to an annual automobile allowance in the amount of $12,000 (the “Auto Allowance”). The Auto Allowance shall be pro-rated for the actual number of days you are employed in the calendar
year 2015. You will be entitled to receive prompt reimbursement for all reasonable expenses incurred by you in performing services hereunder, including all expenses of travel while on business or at the request of and in the service of the Company;
provided, that such expenses are incurred and accounted for in accordance with the policies and procedures reasonably established by the Company. 

6. Ollie’s will provide you with a $75,000 lump sum relocation check, less applicable withholding, on the first regularly scheduled pay
period following the Effective Date (“Relocation Allowance”). In addition, the Company will reimburse you up to $10,000 in travel expenses for travel to and from Colorado before your relocation to Harrisburg, Pennsylvania (“Travel
Reimbursement”). You will be reimbursed up to $1,600 per month for temporary housing (“Temporary Housing Benefit”), provided that such Temporary Housing Benefit shall continue for a period of a maximum of 6 months from the date you
first incur expenses for which you seek reimbursement. Any of the foregoing reimbursable expenses shall be accounted for by you and be subject to the reasonable review and approval of the Company prior to payment. The Relocation Allowance, Travel
Reimbursement, and Temporary Housing Benefit shall be referred to collectively herein as the “Relocation Expenses.” If your employment ends for any reason, 

  
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the Relocation Expenses shall be repaid to the Company according to the following schedule: (a) 100% if employment is ended at or within 12 months, and (b) 50% is employment is ended
between 12 and 24 months. For the avoidance of doubt, in the event of a termination that triggers the repayment obligations of this paragraph, the Relocation Allowance shall be repaid to the Company in cash, and not by transfer of title or lien on
any property. 
 7. Termination of Employment; Severance Payments. You or the Company may terminate your employment at any time and
for any reason by giving written notice to the other in accordance with the terms of this Agreement; provided, that (i) the Company shall provide you with at least thirty (30) days’ prior written notice in the case of
termination of your employment without Cause (as defined below), excluding a termination due to death or Disability (as defined below) and (ii) you shall provide the Company with at least thirty (30) days’ prior written notice in the
case of your termination of employment without Good Reason (as defined below). During the period following any notice of termination of employment through the Termination Date, the Company reserves the right to require you to not be in the
Company’s offices and/or not to undertake all or any of your duties or responsibilities, in each case, without such action constituting Good Reason. During any such period, you remain a service provider to the Company Group with all duties of
fidelity and confidentiality to such persons and subject to all terms and conditions of your employment and should not be employed or engaged in any other business. The parties’ rights and duties in the event of a termination of employment are
as set forth below. 
 (a) If (x) the Company terminates your employment without Cause (but excluding any termination due to your death
or Disability), or (y) you terminate your employment for Good Reason, the Company will, in lieu of any other payments or benefits 

  
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hereunder or otherwise, (i) continue to pay your Base Salary for a period of twelve (12) months after the Termination Date (the “Severance Period”), and
(ii) continue to life insurance benefits to the extent permitted under such plans until the earlier of (x) the end of the Severance Period and (y) the date you have commenced new employment; provided, that you make such
affirmative and timely COBRA or other elections as are required for such benefits to continue; provided, further, that any such life insurance continuation shall be treated as taxable compensation to you to the extent necessary to
avoid adverse tax consequences on the Company or you resulting from the provision of tax free benefits to you. Any obligation of the Company to you under this paragraph is conditioned, however, upon your signing a release of claims in the form
attached hereto as Exhibit B (as may be updated and revised by the Company to comply with applicable law to achieve its intent, the “Release”) within twenty-one (21) days following the Termination Date and upon you not revoking
the Release within seven (7) days thereafter, and is further conditioned upon your continuing compliance with the provisions of Sections 8 and 9. The cash severance set forth in Section 6(a)(i) will be made in the form of salary
continuation, and will begin at the Company’s next regular payroll period following the effective date of the Release (i.e., once it becomes irrevocable), but shall be retroactive to the Termination Date; provided, that if the date on
which such salary continuation may commence can occur in your immediately subsequent taxable year assuming the Release becomes irrevocable on the twenty-eighth (28th) day following the Termination Date, then payment shall commence in the
immediately subsequent taxable year and otherwise in accordance with the terms of this Section 6(a). Notwithstanding anything to the contrary herein, in the event of a breach of Section 8 or Section 9, you shall have no right to
receive (or continue to receive) any amounts under this paragraph, and the Company shall retain any and all rights to pursue other available remedies (whether at law or equity) for any such breach. 

  
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 (b) If (x) the Company terminates your employment for Cause, (y) you terminate your
employment without Good Reason, or (z) your employment terminates by reason of your death or Disability, the Company will, in lieu of any other payments or benefits hereunder or otherwise (including without limitation any severance payments),
pay you any Base Salary earned but not paid through the Termination Date. 
 You hereby acknowledge and agree that, other than the payments
described in this Section 7, upon the Termination Date you shall not be entitled to any other severance payments or benefits of any kind under any Company benefit plan or severance policy generally available to the Company’s employees or
otherwise. For purposes of this Agreement: 
 “Cause” shall mean (i) a material breach by you of any agreement between
you on the one hand and any one or more members of the Company Group on the other hand (including, without limitation, agreements which may have other parties) or any written lawful policy of any member of the Company Group, including, without
limitation, any breach by you of any restrictive covenants by which you are bound (including, without limitation, Sections 8 and 9 hereof), or the failure or refusal by you to substantially perform the duties required of you as an employee of the
Company, (ii) misappropriation or theft of the funds or property of any member of the Company Group, (iii) your conviction of, or plea of guilty or nolo contendere to, any fraud, misappropriation, embezzlement or similar act, felony or
crime involving dishonesty or moral turpitude, (iv) your commission of any act involving willful misconduct or gross negligence or your failure to act involving material nonfeasance, (v) your engaging in any act of dishonesty, violence or
threat of violence (including any violation of federal securities laws) 

  
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which is or could reasonably be expected to be injurious to the financial condition or business reputation of any member of the Company Group, (vi) a finding by the Board that you breached
any of your fiduciary duties to any member of the Company group or any of their respective stockholders, or (vii) your habitual drunkenness or substance abuse which materially interferes with your ability to discharge your duties,
responsibilities and obligations to any member of the Company Group. 
 “Company Group” shall mean OBO Holdings and its
direct and indirect subsidiaries. 
 “Disability” shall mean any illness, injury, accident or condition of either a
physical or psychological nature which, despite reasonable accommodations, results in your being unable to perform substantially all of the duties of your employment with the Company Group for a period of ninety (90) consecutive days or one
hundred eighty (180) total days during any period of three hundred sixty-five (365) consecutive days. 
 “Good
Reason” shall mean, without your consent, (i) the Company’s material violation of its obligations under this Agreement, (ii) a material reduction in your authority, compensation, perquisites, position or responsibilities,
other than any reduction in compensation or perquisites which affects all of the Company’s senior executives on a substantially equal or proportionate basis, or (iii) a relocation of the Company’s primary business location by more
than 25 miles. In order to invoke a termination for “Good Reason,” you shall provide written notice to the Board of the existence of one or more of the conditions constituting “Good Reason” within thirty (30) days following
the initial existence of such condition or conditions, specifying in reasonable detail the conditions constituting “Good Reason,” and the Company shall have thirty (30) days following receipt of such written notice (the “Cure
Period”) during which it may cure the condition if such condition is subject to cure. In the event that the Company fails to remedy the 

  
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condition constituting “Good Reason” during the applicable Cure Period, your resignation for Good Reason must occur, if at all, within thirty (30) days following the expiration of
the Cure Period. 
 “Stockholders’ Agreement” shall mean that certain Stockholders’ Agreement of OBO Holdings,
Inc., entered into as of July 15, 2015, by and among OBO Holdings and the stockholders listed on the signature pages thereto, as such agreement may be amended from time to time. 

“Termination Date” shall mean the date your employment with the Company terminates, regardless of the reason. Upon
termination of your employment by either you or the Company as provided herein, all rights, duties and obligations of you and the Company to each other pursuant to this Agreement shall cease, except as otherwise expressly provided in this Agreement
(including, without limitation, Sections 4, 6, 7, 8, 9, 10, 11, 13, 14, and 17 hereof). 
 8. Confidentiality; Proprietary Rights.
Without the written consent of the Board, you will not during or after the Term of Employment: (a) disclose to any person or entity (other than any disclosure during the Term of Employment to a person or entity to which such disclosure is in
your reasonable judgment necessary or appropriate in connection with the performance of your duties as an executive officer of any member of the Company Group), any confidential, proprietary or trade secret information obtained by you while in the
employ of any member of the Company Group, or (b) use any such information to the detriment of any member of the Company Group; provided, however, that the restrictions in clause (a) of this sentence shall not apply to
information that is generally known to the public other than as a result of unauthorized disclosure by you. 

  
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 All inventions, developments, methods, processes and ideas conceived, developed or reduced to
practice by you during your employment, and for six (6) months thereafter, which are directly or indirectly useful in, or relate to, the business of or products or services provided by or sold by any member of the Company Group shall be
promptly and fully disclosed by you to an appropriate executive officer of the Company (accompanied by all papers, drawings, data and other materials relating thereto) and shall be the exclusive property of the Company (or another member of the
Company Group specified by the Company). You will, upon the Company’s request and at its expense (but without any additional compensation to you), execute all documents reasonably necessary to assign your right, title and interest in any such
invention, development, method or idea (and to direct issuance to the Company (or another member of the Company Group specified by the Company) of all patents or copyrights with respect thereto). 

9. Restricted Activities. You acknowledge that in your employment with the Company you will have access to confidential, proprietary
and trade secret information which, if disclosed, would assist in competition against the Company Group and that you will also generate goodwill for the Company Group in the course of your employment. Therefore, you agree that the following
restrictions on your activities during and after your employment are necessary to protect the goodwill, confidential information and other legitimate interests of the Company Group: 

(a) During the Non-Competition Period (as defined below), neither you nor any of your affiliates will compete, or undertake any planning to
compete, in any way (whether directly or indirectly as an officer, director, employee, owner, investor, joint venturer, independent contractor or otherwise) with the Company Group. Specifically, but without limiting the foregoing, you will not work
or provide services, in any capacity, whether as an 

  
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employee, independent contractor or otherwise, whether with or without compensation, to any person or entity who is engaged in any business that is competitive with the business of the Company
Group, as conducted or in planning (i.e., the Company Group has taken material steps in implementing such plan) during your employment with the Company. A competitive business shall, without express or implied limitation, include any person or
entity in the business of the retail sale, direct marketing or wholesale of discounted or closeout merchandise in any state where the Company Group does business or in any state contiguous to a state in which the Company Group does business. You
understand and agree that ownership of less than 5% of the outstanding stock of any publicly-traded corporation will not in and of itself be deemed to result in any competition with the Company Group. For purposes of this Agreement,
“Non-Competition Period” shall mean the period during the Term of Employment and for one (1) year thereafter. 
 (b)
During the Non-Competition Period, neither you nor any of your affiliates will recruit, offer employment to, employ, engage as a consultant or independent contractor, lure or entice away any person or entity who (i) is on or at any time after
the date hereof, an employee of any member of the Company Group or providing services to any member of the Company Group as a consultant or independent contractor, or otherwise persuade any such person or entity to reduce or otherwise change the
extent of such person’s or entity’s relationship with any member of the Company Group or (ii) was an employee of any member of the Company Group or providing services to any member of the Company Group as a consultant or independent
contractor, in each case, at any time within twelve (12) months following the date of cessation of employment or services of such person or entity with the Company Group, or otherwise persuade any such person or entity during such twelve
(12) month period to reduce or otherwise change the extent of such person’s or entity’s relationship with any member of the Company Group. 

  
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 (c) During the Non-Competition Period, you shall not make any negative, disparaging, detrimental
or derogatory remarks or statements (written, oral, telephonic, electronic, or by any other method) about the Company Group or any of its affiliates, owners, partners, managers, directors, officers, employees or agents, including, without
limitation, any remarks or statements that would adversely affect in any manner (i) the conduct of the Company Group’s business taken as a whole or (ii) the business reputation or relationships of the Company Group and/or any of its
past or present officers, directors, agents, employees, attorneys, successors and assigns. Notwithstanding the foregoing, nothing in this Section 8(c) shall prevent you from making any truthful statement to the extent, but only to the extent
required by law, legal process or by any court, arbitrator, mediator or administrative or legislative body (including any committee thereof) with apparent jurisdiction over you. 

In signing this Agreement, you give the Company assurance that you have carefully read and considered all the terms and conditions of this
Agreement, including the restraints imposed on you under Section 8 and this Section 9. You agree that these restraints are necessary for the reasonable and proper protection of the Company Group and its affiliates, and are reasonable in
respect to subject matter, length of time and geographic area. You further agree that, were you to breach any of the covenants contained in Section 8 or this Section 9, the damage to the Company Group and its affiliates would be
irreparable. You therefore agree that the Company, in addition to any other remedies available to it (including without limitation the remedies as provided in Section 6), shall be entitled without posting bond to preliminary and permanent
injunctive relief against any breach or threatened breach by you of any of those covenants. You further agree 

  
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that, in the event that any provision of Section 8 or this Section 9 is determined to be unenforceable by reason of its being extended over too great a time, too large a geographic area
or too great a range of activities, that provision shall be deemed to be modified to permit its enforcement to the maximum extent permitted by law. It is also agreed that each of the Company’s affiliates shall have the right to enforce all of
your obligations under this Agreement, including without limitation pursuant to this Section 9. 
 10. 409A Compliance. 

(a) The parties agree that this Agreement shall be interpreted to comply with or be exempt from Section 409A of the Internal Revenue Code
of 1986, as amended (the “Code”), and the regulations and guidance promulgated thereunder to the extent applicable (collectively “Code Section 409A”), and all provisions of this Agreement shall be construed in
a manner consistent with the requirements for avoiding taxes or penalties under Code Section 409A. In no event whatsoever will any member of the Company Group, or any of their respective affiliates or any directors, officers, agents, attorneys,
employees, executives, shareholders, members, managers, trustees, fiduciaries, representatives, principals, accountants, insurers, successors or assigns of such member of the Company Group or such affiliate be liable for any additional tax, interest
or penalties that may be imposed on you under Code Section 409A or any damages for failing to comply with Code Section 409A. 

(b) A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment
of any amounts or benefits considered “nonqualified deferred compensation” under Code Section 409A upon or following a termination of employment unless such termination is also a “separation from service” within the meaning
of Code Section 409A and, for purposes of any such provision of 

  
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this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” If you are deemed on the Termination
Date to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered nonqualified deferred compensation under Code
Section 409A payable on account of a “separation from service,” such payment or benefit shall be made or provided at the date which is the earlier of (i) the expiration of the six (6)-month period measured from the date of your
“separation from service” and (ii) the date of your death (the “Delay Period”). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 9(b) (whether they would have
otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed on the first business day following the expiration of the Delay Period to you in a lump sum, and any remaining payments and benefits
due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. 
 (c) With regard
to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Code Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange
for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits, to be provided in any other
taxable year; provided, that this clause (ii) shall not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b) of the Code solely because such expenses are subject to a limit related to the
period the arrangement is in effect and (iii) such payments shall be made on or before the last day of your taxable year following the taxable year in which the expense occurred. 

  
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 (d) For purposes of Code Section 409A, your right to receive any installment payments
pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made
within thirty (30) days following the Termination Date”), the actual date of payment within the specified period shall be within the sole discretion of the Company. 

11. Miscellaneous. The headings in this Agreement are for convenience only and shall not affect the meaning hereof. This Agreement
constitutes the entire agreement between the Company and you, and supersedes any prior communications, agreements, term sheets and understandings, written or oral, with respect to your employment and compensation and all matters pertaining thereto.
If any provision in this Agreement should, for any reason, be held invalid or unenforceable in any respect, it shall be construed by limiting it so as to be enforceable to the maximum extent compatible with applicable law. This Agreement shall be
governed by and construed in accordance with the internal substantive laws of the Commonwealth of Pennsylvania without giving effect to any choice or conflict of laws provision or rule that would cause the application of the domestic substantive
laws of any other jurisdiction. 
 12. Acceptance. In accepting this offer, you represent that you have not relied on any agreement
or representation, oral or written, express or implied, that is not set forth expressly in this Agreement. 
 13. Withholding. The
Company may withhold from any amounts payable under this Agreement such federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation. 

  
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 14. Notices. Any, demand, consent or approval permitted or required to be given under this
Agreement shall be deemed duly made or given if it is in written form and delivered personally, by facsimile (with receipt confirmed), by prepaid, commercially recognized overnight carrier (with receipt confirmed), or by certified or registered
mail, return receipt requested. Any party may change the address to which any notice, demand, consent or approval shall be sent by a notice in writing to the other party in accordance with the provisions hereof. All notices shall be addressed as
follow: 
 If to you, to your last address on file in the records of the Company. 

If to the Company: 
  

	
	 Ollie’s Bargain Outlet, Inc.

6295 Allentown Boulevard, Suite A

Harrisburg, PA 17112

Attention: Chief Financial Officer

	
	 With a copy to:

	
	 CCMP Capital Advisors, LLC

245 Park Avenue, 16th Floor

New York, NY 10167

Attention: Richard Zannino, Joe Scharfenberger and Official Notice Clerk

Facsimile: (917) 464-7576

	
	 and

	
	 Weil, Gotshal & Manges LLP

767 Fifth Avenue
 New
York, NY 10163
 Facsimile: (212) 310-8007

Attention: Alexander Lynch

 15. Counterparts. This Agreement may be executed in any number of counterparts, each of which so
executed will be deemed to be an original and such counterparts will, when executed by the parties hereto, together constitute but one agreement. Facsimile and electronic signatures shall be deemed to be the equivalent of manually signed originals.

  
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 16. Successors and Assigns. The provisions of this Agreement shall be binding on and shall
inure to the benefit of the Company and its assigns, including any successor in interest to the Company who acquires all or substantially all of the Company’s stock or assets. Neither this Agreement nor any of your rights, duties or obligations
shall be assignable by you. All your rights under this Agreement shall inure to the benefit of and be enforceable by your personal or legal representatives, estates, executors, administrators, heirs and beneficiaries. 

17. No Waiver; Amendment. No change or modification of this Agreement shall be valid unless the same shall be in writing and signed by
all of the parties hereto. No waiver of any provisions of this Agreement shall be valid unless in writing and signed by the party charged with waiver. No waiver of any of the provisions of this Agreement shall be deemed, or shall constitute, a
waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver, unless so provided in the waiver. 

[Signature Page to Follow] 

  
 20 

 Very truly yours, 
  

			
	OLLIE’S BARGAIN OUTLET, INC.
		
	By:	 	 /s/ Robert Bertram

	Name:	 	 Robert Bertram

	Title:	 	 General Counsel

 Accepted and Agreed To 
  

			
	 /s/ Jay Stasz
	 	
	Name: Jay Stasz	 	

 [Signature Page to Stasz Employment Letter Agreement, dated November 18, 2015] 

  
 21 

 Exhibit A 

Form of OBO Holdings, Inc. 2015 Equity Incentive Plan and OBO Holdings Nonqualified Stock 

Option Award Agreement 

  
 1 

 Exhibit B 

Form of 
 Release of Claims

 FOR AND IN CONSIDERATION OF the amounts to be provided to me in connection with the termination of my employment, as set forth in the
agreement between me and Ollie’s Bargain Outlet, Inc. (the “Company”) dated as of November 18, 2015 (“Letter Agreement”), which are conditioned upon my signing this Release of Claims and to which I am not otherwise
entitled, and for other good and valuable consideration, I, on my own behalf and on behalf of my heirs, executors, beneficiaries and personal representatives, and all others connected with me, hereby release and forever discharge the Company, its
parents, subsidiaries and other affiliates and all of their respective past and present officers, directors, shareholders, employees, agents, general and limited partners, members, managers, joint venturers, representatives, successors and assigns,
and all others connected with any of them, both individually and in their official capacities, from any and all causes of action, rights and claims, of any nature or type, known or unknown, which I have had in the past, now have, or might now have,
through the date of my signing of this Release of Claims, including, but not limited to, any such causes of action, rights or claims in any way resulting from, arising out of or connected with my employment by, investment in, or other relationship
with the Company or any of its affiliates or the termination of that employment, investment and/or relationship or pursuant to any federal, state or local law, regulation or other requirement (including without limitation Title VII of the Civil
Rights Act of 1964, the Age Discrimination in Employment Act, the Americans with Disabilities Act, and the fair employment practices laws of the state or states in which I have provided services to the Company or its affiliates, each as amended from
time to time); provided that nothing herein shall be a release of my rights to enforce any provision of the Letter Agreement, or the Stockholders’ Agreement (as defined in the Letter Agreement). 

  
 1 

 In signing this Release of Claims, I acknowledge that I have had a reasonable amount of time to
consider the terms of this Release of Claims and that I am signing this Release of Claims voluntarily and with a full understanding of its terms. 

In signing this Release of Claims, I acknowledge my understanding that I may not sign it prior to the termination of my employment, but that I
may consider the terms of this Release of Claims for up to twenty-one (21) days following the Termination Date (as defined in the Agreement). I also acknowledge that I am advised by the Company and its subsidiaries and other affiliates to seek
the advice of an attorney prior to signing this Release of Claims; that I have had sufficient time to consider this Release of Claims and to consult with an attorney, if I wished to do so, or to consult with any other person of my choosing before
signing; and that I am signing this Release of Claims voluntarily and with a full understanding of its terms. 
 I further acknowledge that,
in signing this Release of Claims, I have not relied on any promises or representations, express or implied, that are not set forth expressly in the Letter Agreement. I understand that I may revoke this Release of Claims at any time within seven
(7) days of the date of my signing by written notice to the Company in accordance with Section 13 of the Letter Agreement and that this Release of Claims will take effect only upon the expiration of such seven-day revocation period and
only if I have not timely revoked it. 
 Intending to be legally bound, I have signed this Release of Claims under seal as of the date
written below. 
  

			
	 Signature:
	 	  

		
	 Name (please print):
	 	  

		
	 Date Signed:
	 	  

  
 2Exhibit 4.1

 

[EXECUTION VERSION]

 

REGISTRATION RIGHTS AGREEMENT

 

between

 

SENSEONICS HOLDINGS, INC.

 

and

 

THE INVESTORS IDENTIFIED IN SCHEDULE I

 

Dated as of December 7, 2015

 

 

THIS REGISTRATION RIGHTS AGREEMENT (the “Agreement”) is made as of December 7, 2015 by and among Senseonics Holdings, Inc., a Delaware corporation (formerly known as ASN Technologies, Inc.) (the “Company”) and each of the persons named in the attached Schedule I (individually, an “Investor” and collectively, the “Investors”).

 

WHEREAS, the parties desire to enter into this Agreement in order to grant registration rights to the Investors.

 

NOW, THEREFORE, in consideration of the promises and the mutual covenants contained in this Agreement, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.                                      RESTRICTIONS ON TRANSFERABILITY OF SECURITIES; REGISTRATION RIGHTS

 

1.1                               Certain Definitions.

 

As used in this Agreement, the following terms shall have the following respective meanings:

 

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

 

“Company Common Stock” shall mean the Common Stock, $0.001 par value per share, of the Company, as constituted as of the date of this Agreement.

 

“Conversion Shares” shall mean shares of Subsidiary Common Stock issued upon conversion of the Preferred Shares in connection with the Merger.

 

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

 

“Exchange Shares” shall mean the Company Common Stock issued to the Investors in exchange for the Conversion Shares in connection with the Merger.

 

“Merger” shall mean the transactions contemplated by that certain Agreement and Plan of Merger and Reorganization by and among the Company, SMSI Merger Sub, Inc. and the Subsidiary, dated December 4, 2015.

 

“Preferred Shares” shall mean (1) shares of the Series A Convertible Preferred Stock, $0.01 par value per share, of the Subsidiary, (2) shares of the Series B Convertible Preferred Stock, $0.01 par value per share, of the Subsidiary, (3) shares of the Series C Convertible Preferred Stock, $0.01 par value per share, of the Subsidiary, (4) shares of the Series D Convertible Preferred Stock, $0.01 par value per share, of the Subsidiary, and (5) shares of the Series E Convertible Preferred Stock, $0.01 par value per share, of the Subsidiary.

 

1

 

“Registrable Stock” shall mean the Exchange Shares, excluding Exchange Shares that (a) have been registered under the Securities Act pursuant to an effective registration statement filed thereunder and disposed of in accordance with the registration statement covering them, (b) have been publicly sold pursuant to Rule 144, or (c) are eligible to be sold without restriction under Rule 144 in a single sale.

 

“Registration Expenses” shall mean the expenses so described in Section 1.6.

 

“Rule 144” shall mean Rule 144 as promulgated under the Securities Act, as such rule may be amended from time to time, or any similar successor rule that may be promulgated by the Commission.

 

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

 

“Selling Expenses” shall mean the expenses so described in Section 1.6.

 

“Subsidiary” shall mean Senseonics, Incorporated, a Delaware corporation.

 

“Subsidiary Common Stock” shall mean the Common Stock, $0.01 par value per share, of the Subsidiary.

 

“Super Form 8-K” shall mean the Current Report on Form 8-K filed by the Company reporting the completion of the Merger containing “Form 10 information” regarding the Company (as defined in Rule 144(ii)(3) promulgated under the Securities Act).

 

1.2                               Required Registration.

 

(a)                                 At any time after the earlier of (i) six months after any registration statement covering a public offering of securities of the Company effected after the date of this Agreement under the Securities Act shall have become effective, and (ii) the third anniversary of the date of this Agreement, but in either event, no earlier than the one year anniversary of the Company’s filing of the Super Form 8-K, the holders of Registrable Stock constituting at least 50% of the total shares of Registrable Stock then outstanding may by written notice to the Company request the Company to register under the Securities Act all or any portion of the shares of Registrable Stock held by such requesting holder or holders for sale in the manner specified in such notice, provided that the shares of Registrable Stock for which registration has been requested shall constitute at least 20% of the total shares of Registrable Stock originally issued if such holder or holders shall request the registration of less than all shares of Registrable Stock then held by such holder or holders (or any lesser percentage if the reasonably anticipated aggregate price to the public of such public offering would exceed $10,000,000).  Notwithstanding anything to the contrary contained herein, no request may be made under this Section 1.2 within 120 days after the effective date of a registration statement filed by the Company covering a firm commitment underwritten public offering in which the holders of

 

 

Registrable Stock shall have been entitled to join pursuant to Sections 1.3 or 1.4 and in which there shall have been effectively registered all shares of Registrable Stock as to which registration shall have been requested.

 

(b)                                 Following receipt of any notice under this Section 1.2, the Company shall immediately notify all holders of Registrable Stock from whom notice has not been received and shall use its best efforts to register under the Securities Act, for public sale in accordance with the method of disposition specified in such notice from requesting holders, the number of shares of Registrable Stock specified in such notice (and in all notices received by the Company from other holders within 30 days after the giving of such notice by the Company).  If such method of disposition shall be an underwritten public offering, the holders of a majority of the shares of Registrable Stock to be sold in such offering may designate the managing underwriter of such offering, subject to the approval of the Company, which approval shall not be unreasonably withheld or delayed.  The Company shall be obligated to register Registrable Stock pursuant to this Section 1.2 on two occasions only; provided, however, that such obligation shall be deemed satisfied only when a registration statement covering all shares of Registrable Stock specified in notices received as aforesaid, for sale in accordance with the method of disposition specified by the requesting holders, shall have become effective and, if such method of disposition is a firm commitment underwritten public offering, all such shares shall have been sold pursuant thereto.

 

(c)                                  In any registration statement requested pursuant to this Section 1.2, the Company shall be entitled to include shares of Company Common Stock to be sold by the Company for its own account.  If in the opinion of the managing underwriter (if the method of disposition in the requested registration statement shall be an underwritten public offering) such inclusion would adversely affect the marketing of the Registrable Stock to be sold, then the Company shall reduce the number of shares of Company Common Stock to be sold by the Company for its own account to that number which, in the opinion of the managing underwriter, would not adversely affect the marketing of the Registrable Stock requested to be sold.  In the event that the Company selects option (ii), the registration statement shall not count as a registration of Registrable Stock pursuant to Section 1.2(b) above.  Except for registration statements on Form S-4, S-8 or any successor thereto, the Company will not file with the Commission any other registration statement with respect to Company Common Stock, whether for its own account or that of other stockholders, from the date of receipt of a notice from requesting holders pursuant to this Section 1.2 until the completion of the period of distribution of the registration contemplated thereby, and no holder of Registrable Stock will be entitled to request registration of its Registrable Stock during such period.

 

1.3                               Incidental Registration.

 

If the Company at any time (other than pursuant to Section 1.2 or Section 1.4) proposes to register any of its securities under the Securities Act for sale to the public, whether for its own account or for the account of other security holders or both (except with respect to registration statements on Forms S-4, S-8 or another form not available for registering the Registrable Stock for sale to the public), each such time it will give written notice to all holders of outstanding Registrable Stock of its intention so to do, provided, however, that, unless the proposed registration is in connection with a proposed firmly underwritten offering, the Company shall not be obligated to give written notice to holders of Registrable Stock that is then registered pursuant

 

 

to an effective registration statement.  Upon the written request of any such holder, received by the Company within 30 days after the giving of any such notice by the Company, to register any of its Registrable Stock (which request shall state the intended method of disposition thereof), the Company will use its best efforts to cause the Registrable Stock as to which registration shall have been so requested to be included in the securities to be covered by the registration statement proposed to be filed by the Company, all to the extent requisite to permit the sale or other disposition by the holder (in accordance with its written request) of such Registrable Stock so registered.  In the event that any registration pursuant to this Section 1.3 shall be, in whole or in part, an underwritten public offering of Company Common Stock, the number of shares of Registrable Stock to be included in such an underwriting may be reduced (pro rata among the requesting holders based upon the number of shares of Registrable Stock owned by such holders) if and to the extent that the managing underwriter shall be of the opinion that such inclusion would adversely affect the marketing of the securities to be sold by the Company therein (if the reasonably anticipated aggregate price to the public of all such Registrable Stock would exceed $250,000), provided, however, that such number of shares of Registrable Stock shall not be reduced if any shares are to be included in such underwriting for the account of any person other than the Company or requesting holders of Registrable Stock, and provided, further, however, that in no event may less than one-third of the total number of shares of Company Common Stock to be included in such underwriting be made available for shares of Registrable Stock, unless such offering is a firm commitment underwritten public offering effected prior to the one year anniversary of the Company’s filing of the Super Form 8-K, in which event any or all of the Registrable Stock may be excluded from the underwriting.  Notwithstanding the foregoing provisions, the Company may withdraw any registration statement referred to in this Section 1.3 without thereby incurring any liability to the holders of Registrable Stock.

 

1.4                               Registration on Form S-3.

 

The Company shall register Company Common Stock under the Exchange Act as soon as legally permissible following the effective date of the first registration of any securities of the Company on Form S-1 and the Company shall thereafter file all reports and effect all qualifications and compliances as would facilitate or permit the sale and distribution of its stock on Form S-3.  Thereafter, if at any time a holder or holders of Registrable Stock request that the Company file a registration statement on Form S-3 or any successor thereto for a public offering of all or any portion of the shares of Registrable Stock held by such requesting holder or holders, the reasonably anticipated aggregate price to the public of which would exceed $1,000,000, the Company shall use its best efforts to register under the Securities Act on Form S-3 or any successor thereto, for public sale in accordance with the method of disposition specified in such notice, the number of shares of Registrable Stock specified in such notice.  Whenever the Company is required by this Section 1.4 to use its best efforts to effect the registration of Registrable Stock, each of the procedures and requirements of Section 1.2 (including but not limited to the requirement that the Company notify all holders of Registrable Stock from whom notice has not been received and provide them with the opportunity to participate in the offering) shall apply to such registration, provided, however, that there shall be no limitation on the number of registrations on Form S-3 which may be requested and obtained under this Section 1.4.

 

 

1.5                               Registration Procedures.

 

If and whenever the Company is required by the provisions of Sections 1.2, 1.3 or 1.4 to use its best efforts to effect the registration of any shares of Registrable Stock under the Securities Act, the Company will, as expeditiously as possible:

 

(a)                                 prepare and file with the Commission a registration statement (which, in the case of an underwritten public offering pursuant to Section 1.2, shall be on Form S-1 or other form of general applicability satisfactory to the managing underwriter selected as therein provided) with respect to such securities and use its best efforts to cause such registration statement to become and remain effective for the period of the distribution contemplated thereby (determined as hereinafter provided);

 

(b)                                 prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective for the period specified in paragraph (a) above and comply with the provisions of the Securities Act with respect to the disposition of all Registrable Stock covered by such registration statement in accordance with the sellers’ intended method of disposition set forth in such registration statement for such period:

 

(c)                                  furnish to each seller of Registrable Stock and to each underwriter such number of copies of the registration statement and the prospectus included therein (including each preliminary prospectus) as such persons reasonably may request in order to facilitate the public sale or other disposition of the Registrable Stock covered by such registration statement;

 

(d)                                 use its best efforts to register or qualify, to the extent required, the Registrable Stock covered by such registration statement under the securities or “blue sky” laws of such jurisdictions as the sellers of Registrable Stock or, in the case of an underwritten public offering, the managing underwriter reasonably shall request, provided, however, that the Company shall not for any such purpose be required to qualify generally to transact business as a foreign corporation in any jurisdiction where it is not so qualified or to consent to general service of process in any such jurisdiction;

 

(e)                                  use its best efforts to list the Registrable Stock covered by such registration statement with any securities exchange on which the Company Common Stock is then listed;

 

(f)                                   immediately notify each seller of Registrable Stock, and each underwriter under such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event of which the Company has knowledge as a result of which the prospectus contained 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 light of the circumstances then existing;

 

(g)                                 if the offering is underwritten and at the request of any seller of Registrable Stock, use its best efforts to furnish on the date that Registrable Stock is delivered to the underwriters for sale pursuant to such registration: (i) an opinion dated such date of counsel representing the Company for the purposes of such registration, addressed to the underwriters

 

 

and to such seller, covering such matters as are typically covered in opinions provided to underwriters in an underwritten public offering, and (ii) a letter dated such date from the independent public accountants retained by the Company, addressed to the underwriters and to such seller, stating that they are independent public accountants within the meaning of the Securities Act and that, in the opinion of such accountants, the financial statements of the Company included in the registration statement or the prospectus, or any amendment or supplement thereof, comply as to form in all material respects with the applicable accounting requirements of the Securities Act, and such letter shall additionally cover such other financial matters (including information as to the period ending no more than five business days prior to the date of such letter) with respect to such registration as such underwriters reasonably may request; and

 

(h)                                 make available for inspection by each seller of Registrable Stock, any underwriter participating in any distribution pursuant to such registration statement, and any attorney, accountant or other agent retained by such seller or underwriter, all financial and other records, pertinent corporate documents and properties of the Company, and cause the Company’s officers, directors and employees to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with such registration statement.

 

For purposes of Sections 1.5(a) and 1.5(b) and of Section 1.2(c), the period of distribution of Registrable Stock in a firm commitment underwritten public offering shall be deemed to extend until each underwriter has completed the distribution of all securities purchased by it, and the period of distribution of Registrable Stock in any other registration shall be deemed to extend until the sale of all Registrable Stock covered thereby.

 

In connection with each registration hereunder, the sellers of Registrable Stock will furnish to the Company in writing such information with respect to themselves and the proposed distribution by them as shall be reasonably requested by the Company or its counsel in order to assure compliance with federal and applicable state securities laws.

 

In connection with each registration pursuant to Sections 1.2, 1.3 or 1.4 covering an underwritten public offering, the Company and each seller agree to enter into a written agreement with the managing underwriter selected in the manner herein provided in such form and containing such provisions as are customary in the securities business for such an arrangement between such underwriter and companies of the Company’s size and investment stature (the “Underwriting Agreement”).

 

1.6                               Expenses.

 

All expenses incurred by the Company in complying with Sections 1.2, 1.3 and 1.4, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel and independent public accountants for the Company, fees and expenses (including counsel fees) incurred in connection with complying with state securities or “blue sky” laws, fees of the Financial Industry Regulatory Authority, or FINRA, transfer taxes, fees of transfer agents and registrars, costs of insurance and reasonable fees and disbursements of one counsel for the sellers of Registrable Stock, but excluding any Selling Expenses, are called

 

 

“Registration Expenses”.  All underwriting discounts and selling commissions applicable to the sale of Registrable Stock are called “Selling Expenses”.

 

The Company will pay all Registration Expenses in connection with each registration statement under Sections 1.2, 1.3 or 1.4.  All Selling Expenses in connection with each registration statement under Sections 1.2, 1.3 or 1.4 shall be borne by the participating sellers in proportion to the number of shares sold by each, or by such participating sellers other than the Company (except to the extent the Company shall be a seller) as they may agree.

 

1.7                               Indemnification and Contribution.

 

(a)                                 In the event of a registration of any of the Registrable Stock under the Securities Act pursuant to Sections 1.2, 1.3 or 1.4, the Company will indemnify and hold harmless each seller of such Registrable Stock thereunder, each underwriter of such Registrable Stock thereunder, each of their respective partners, members (in the case of a limited liability company), beneficiaries or beneficial owners (in the case of a trust), shareholders, officers and directors (in the case of a corporation), and each other person, if any, who controls any such person within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which such seller, underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Stock was registered under the Securities Act pursuant to Sections 1.2, 1.3 or 1.4, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse each such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with written information furnished to the Company by such seller or underwriter or any of their respective controlling persons in writing specifically for use in such registration statement or prospectus, and provided, further, in the case of an underwriter or person who controls such underwriter, the Company’s liability will be no greater than as set forth in, and subject to any limitations and exclusions contained in, the Underwriting Agreement.  It is agreed that the indemnity agreement contained in this Section 1.7(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company (which consent has not been unreasonably withheld).

 

(b)                                 In the event of a registration of any of the Registrable Stock under the Securities Act pursuant to Sections 1.2, 1.3 or 1.4, each seller of such Registrable Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities

 

 

Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer, director, underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Stock was registered under the Securities Act pursuant to Sections 1.2, 1.3 or 1.4, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however that such seller will be liable hereunder in any such case if, and only to the extent that, any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such seller, as such, furnished in writing to the Company by such seller specifically for use in such registration statement or prospectus, and provided further, however, that the liability of each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the shares sold by such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the proceeds received by such seller from the sale of Registrable Stock covered by such registration statement.  It is agreed that the indemnity obligations of each seller of Registrable Stock contained in this Section 1.7(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of such seller of Registrable Stock (which consent has not been unreasonably withheld).

 

(c)                                  Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 1.7 and shall only relieve it from any liability which it may have to such indemnified party under this Section 1.7 if and to the extent the indemnifying party is prejudiced by such omission.  In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 1.7 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation, provided, however that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified party shall have the right to select a separate

 

 

counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred, provided further, however, that the indemnifying party shall not be liable for the expenses of more than one separate counsel (in addition to local counsel) in any one action or separate but substantially similar actions in the same jurisdiction arising out of the same general allegations or circumstances, representing the indemnified parties who are parties to such action or actions.

 

(d)                                 In order to provide for just and equitable contribution to joint liability under the Securities Act in any case in which either (i) any holder of Registrable Stock exercising rights under this Agreement, or any controlling person of any such holder, makes a claim for indemnification pursuant to this Section 1.7 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 1.7 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of any such selling holder or any such controlling person in circumstances for which indemnification is provided under this Section 1.7; then, and in each such case, the Company and such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that such holder is responsible for the portion represented by the percentage that the public offering price of its Registrable Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however that, in any such case, (A) no such holder will be required to contribute any amount in excess of the proceeds received by such holder from the sale of all such Registrable Stock sold by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.

 

1.8                               Changes in Company Common Stock.

 

If, and as often as, there is any change in the Company Common Stock by way of a stock split, stock dividend, combination or reclassification, or through a merger, consolidation, reorganization or recapitalization, or by any other means, appropriate adjustment shall be made in the provisions hereof so that the rights and privileges granted hereby shall continue with respect to the Company Common Stock as so changed.

 

1.9                               Rule 144 Reporting.

 

With a view to making available the benefits of certain rules and regulations of the Commission which may at any time permit the sale of the Registrable Stock to the public without registration, beginning 90 days after any registration statement covering a public offering of securities of the Company effected after the date of this Agreement under the Securities Act shall have become effective and for a period of at least five years thereafter, the Company agrees to:

 

(a)                                 make and keep public information available, as those terms are understood and defined in Rule 144;

 

 

(b)                                 use its best efforts to file with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act; and

 

(c)                                  furnish to each holder of Registrable Stock forthwith upon request a written statement by the Company as to its compliance with the reporting requirements of such Rule 144 and of the Securities Act and the Exchange Act, a copy, of the most recent annual or quarterly report of the Company, and such other reports and documents so filed by the Company as such holder may reasonably request in availing itself of any rule or regulation of the Commission allowing such holder to sell any Registrable Stock without registration.

 

2.                                      MISCELLANEOUS

 

2.1                               Successors and Assigns.

 

Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors and assigns of the parties hereto (including without limitation transferees of any Registrable Stock), whether so expressed or not, provided, however that registration rights conferred herein on the holders of Registrable Stock shall only inure to the benefit of a transferee of Registrable Stock if (i) (A) there is transferred to such transferee at least 20% of the total shares of Registrable Stock originally issued pursuant to one or more preferred stock purchase agreements to the direct or indirect transferor of such transferee or (B) such transferee is a partner, shareholder, beneficiary or beneficial owner (in the case of a trust) or affiliate of a party hereto and (ii) such transferor agrees in writing to be bound by the terms of this Agreement.

 

2.2                               Notices.

 

All notices, requests, consents and other communications hereunder shall be in writing and shall be delivered in person, mailed by certified or registered mail, return receipt requested, or sent by nationally recognized overnight courier service or by facsimile (and shall be sent by facsimile and courier service when such notice or communication is sent a non-United States address), addressed as follows:

 

if to the Company, at 20451 Seneca Meadows Parkway, Germantown, Maryland 20876, facsimile (301) 515-0988, Attention: President, with a copy to Cooley LLP, One Freedom Square, Reston Town Center, 11951 Freedom Drive, Reston, VA 20190-5656, facsimile (703) 456-8100, Attention:  Christian Plaza; and

 

if to any holder of Registrable Stock, at the address of such holder in the record books of the Company;

 

or, in any case, at such other address or addresses as shall have been furnished in writing to the Company (in the case of a holder of Registrable Stock) or to the holders of Registrable Stock (in the case of the Company).

 

 

2.3                               Governing Law.

 

This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.

 

2.4                               Amendments.

 

This Agreement may be amended or modified, and the provisions hereof may be waived, upon the written consent of the Company and the holders of at least two-thirds of the shares of Registrable Stock.   Any such amendment, modification or waiver shall be binding on all parties hereto.

 

2.5                               Counterparts.

 

This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Counterparts may be delivered via facsimile, electronic mail (including pdf) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

2.6                               Termination of Registration Rights.

 

The obligations of the Company to register shares of Registrable Stock under Sections 1.2, 1.3 or 1.4 shall terminate on August 4, 2025.

 

2.7                               Market “Stand-Off” Agreement.

 

If requested in writing by the underwriters for any underwritten public offering of securities of the Company, each holder of Registrable Stock who is a party to this Agreement shall agree not to sell publicly any shares of Registrable Stock or any other shares of Company Common Stock (other than shares of Registrable Stock or other shares of Company Common Stock being registered for sale by such holder in such offering), without the consent of such underwriters, for a period of not more than 180 days following the effective date of the registration statement relating to such offering, such shorter period as the underwriters may request or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (1) the publication or other distribution of research reports and (2) analyst recommendations and opinions, including, but not limited to, the restrictions contained in FINRA Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto; provided, however the underwriters have also requested that all persons entitled to registration rights with respect to shares of Company Common Stock who are not parties to this Agreement, all other persons selling shares of Company Common Stock in such offering and all executive officers and directors of the Company not to sell publicly their Company Common Stock under the circumstances and pursuant to the terms set forth in this Section 2.7.

 

2.8                               Blackout Periods.

 

Notwithstanding anything to the contrary set forth in this Agreement, the Company’s obligation to file a registration statement, or cause such registration statement to become and remain effective, or the ability of any and all holders of Registrable Stock which has been

 

 

included in a registration statement to sell such Registrable Stock pursuant to such registration statement, shall be suspended in the event of a Suspension Event (as defined in the next sentence), for as long as such Suspension Event shall exist but not to exceed sixty (60) days in any 12-month period (the “Blackout Period”).  A Suspension Event shall consist of pending negotiations relating to, or consummation of, a transaction or the occurrence of an event that would require disclosure of material non-public information by the Company which the Board of Directors of the Company reasonably believes should not be disclosed or which renders the Company unable to comply with requirements of the Commission or pursuant to the Securities Act or which make it impracticable or inadvisable to cause a registration statement to become effective or to amend or supplement a registration statement.  The Company shall notify the holders of Registrable Stock of the occurrence of any Suspension Event, the receipt of which notice shall commence the Blackout Period.  Such Blackout Period will terminate upon further notice of such event from the Company, which notice shall be given by the Company no later than five (5) days following the conclusion of the Suspension Event.

 

2.9                               Limitations on Subsequent Registration Rights.

 

The Company shall not grant to any third party any registration rights more favorable than any of those contained herein, so long as any of the registration rights under this Agreement remain in effect, unless it offers the parties hereto the option to elect such more favorable registration rights as a whole.

 

2.10                        Severability.

 

If any provision of this Agreement shall be held to be illegal, invalid or unenforceable, such illegality, invalidity or unenforceability shall attach only to such provision and shall not in any manner affect or render illegal, invalid or unenforceable any other provision of this Agreement, and this Agreement shall be carried out as if any such illegal, invalid or unenforceable provision were not contained herein.

 

2.11                        Titles and Subtitles.

 

The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting any term or provision of this Agreement.

 

[Signatures Appear on Following Pages.]

 

 

IN WITNESS WHEREOF, the Company and the Investors have executed this Registration Rights Agreement as of the date first written above.

 

	
 
    	
THE   COMPANY:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SENSEONICS   HOLDINGS, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   R. Don Elsey
    
	
 
    	
Name:   R. Don Elsey
    
	
 
    	
Title:   Chief Financial Officer
    

 

 

IN WITNESS WHEREOF, the Company and the Investors have executed this Registration Rights Agreement as of the date first written above.

 

	
 
    	
THE   INVESTORS:
    
	
 
    	
 
    
	
 
    	
DELPHI   VENTURES VIII, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Doug Roeder
    
	
 
    	
Name:
    	
Doug   Roeder
    
	
 
    	
Title:
    	
Managing   Member
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
DELPHI   BIOINVESTMENTS VIII, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Doug Roeder
    
	
 
    	
Name:
    	
Doug   Roeder
    
	
 
    	
Title:
    	
Managing   Member
    

 

 

IN WITNESS WHEREOF, the Company and the Investors have executed this Registration Rights Agreement as of the date first written above.

 

	
 
    	
THE   INVESTORS:
    
	
 
    	
 
    
	
 
    	
GREENSPRING   GLOBAL PARTNERS IV-A, L.P.
    
	
 
    	
By:   Greenspring General Partner IV, L.P.
    
	
 
    	
By:   Greenspring GP IV, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Eric Thompson
    
	
 
    	
Name:
    	
Eric   Thompson
    
	
 
    	
Title:
    	
Chief   Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
GREENSPRING   GLOBAL PARTNERS IV-B, L.P.
    
	
 
    	
By:   Greenspring General Partner IV, L.P.
    
	
 
    	
By:   Greenspring GP IV, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Eric Thompson
    
	
 
    	
Name:
    	
Eric   Thompson
    
	
 
    	
Title:
    	
Chief   Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
GREENSPRING   GLOBAL PARTNERS IV-C, L.P.
    
	
 
    	
By:   Greenspring General Partner IV, L.P.
    
	
 
    	
By:   Greenspring GP IV, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Eric Thompson
    
	
 
    	
Name:
    	
Eric   Thompson
    
	
 
    	
Title:
    	
Chief   Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
GREENSPRING   CROSSOVER VENTURES I, L.P.
    
	
 
    	
By:   Greenspring Crossover I GP, L.P.
    
	
 
    	
By:   Greenspring Crossover I, L.L.C.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Eric Thompson
    
	
 
    	
Name:
    	
Eric   Thompson
    
	
 
    	
Title:
    	
Chief   Financial Officer
    

 

 

IN WITNESS WHEREOF, the Company and the Investors have executed this Registration Rights Agreement as of the date first written above.

 

	
 
    	
THE   INVESTORS:
    
	
 
    	
 
    
	
 
    	
HEALTHCARE   VENTURES VI, L.P.
    
	
 
    	
By:   HealthCare Partners VI, L.P.,
    
	
 
    	
its   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   [Illegible]
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

IN WITNESS WHEREOF, the Company and the Investors have executed this Registration Rights Agreement as of the date first written above.

 

	
 
    	
THE   INVESTORS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
NEW   ENTERPRISE ASSOCIATES 9,
    
	
 
    	
LIMITED   PARTNERSHIP
    
	
 
    	
By:   NEA Partners 9, Limited Partnership,
    
	
 
    	
its   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Louis S. Citron
    
	
 
    	
Name:   
    	
Louis   S. Citron
    
	
 
    	
Title:
    	
Chief   Legal Officer/Attorney-in-fact
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
NEW   ENTERPRISE ASSOCIATES 10,
    
	
 
    	
LIMITED   PARTNERSHIP
    
	
 
    	
By:   NEA Partners 10, Limited Partnership,
    
	
 
    	
its   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Louis S. Citron
    
	
 
    	
Name:   
    	
Louis   S. Citron
    
	
 
    	
Title:
    	
Chief   Legal Officer/Attorney-in-fact
    

 

 

IN WITNESS WHEREOF, the Company and the Investors have executed this Registration Rights Agreement as of the date first written above.

 

	
 
    	
NEW   ENTERPRISE ASSOCIATES VII,
    
	
 
    	
LIMITED   PARTNERSHIP
    
	
 
    	
By:
    	
NEA   Partners VII, Limited Partnership,
    
	
 
    	
 
    	
its   general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Louis S. Citron
    
	
 
    	
Name:   
    	
Louis   S. Citron
    
	
 
    	
Title:
    	
Chief   Legal Officer/Attorney-in-fact
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
NEA   PRESIDENTS FUND, L.P.
    
	
 
    	
By:
    	
NEA   General Partner, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Louis S. Citron
    
	
 
    	
Name:   
    	
Louis   S. Citron
    
	
 
    	
Title:
    	
Chief   Legal Officer/Attorney-in-fact
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
NEA VENTURES 1997, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Louis S. Citron
    
	
 
    	
Name:   
    	
Louis   S. Citron
    
	
 
    	
Title:
    	
Chief   Legal Officer/Attorney-in-fact
    

 

 

IN WITNESS WHEREOF, the Company and the Investors have executed this Registration Rights Agreement as of the date first written above.

 

	
 
    	
THE   INVESTORS:
    
	
 
    	
 
    
	
 
    	
ROCHE   FINANCE LTD
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Beat Kraehenmann
    
	
 
    	
Name:
    	
Beat   Kraehenmann
    
	
 
    	
Title:
    	
Authorized   Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Andreas Knierzinger
    
	
 
    	
Name:
    	
Andreas   Knierzinger
    
	
 
    	
Title:
    	
Authorized   Signatory
    

 

 

SCHEDULE I

 

Investors

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