Document:

EX-10.1

 Exhibit 10.1 
 AMENDED AND RESTATED 
 EXECUTIVE EMPLOYMENT AGREEMENT 

This AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is executed as of January 1,
2012 between Belden Inc., a Delaware corporation (the “Company”), and Hendrikus (Henk) Derksen (the “Executive”). 
 W I T N E S S E T H: 
 WHEREAS, the Company and Executive executed an Executive Employment Agreement (the “Original Agreement”) as of January 1, 2010 reflecting the employment of Executive as the
Company’s Vice President, Financial Planning and Analysis and Treasurer; and 
 WHEREAS, the Company and Executive
desire to amend and restate the Original Agreement with this Agreement to reflect Executive’s promotion to the position of Senior Vice President, Finance, and Chief Financial Officer and to set forth the terms of Executive’s employment by
the Company in the new position; 
 NOW THEREFORE, in consideration of the foregoing, of the mutual promises contained
herein and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. POSITION/DUTIES. 
 (a) Executive shall serve as the Senior Vice
President, Finance, and Chief Financial Officer of the Company. 
 (b) Executive shall use his best efforts to perform
faithfully and efficiently the duties and responsibilities assigned to Executive hereunder and devote substantially all of Executive’s business time to the performance of Executive’s duties with the Company; provided, the foregoing shall
not prevent Executive from participating in charitable, civic, educational, professional or community affairs so long as such activities do not materially interfere with the performance of Executive’s duties hereunder or create a potential
business conflict or the appearance thereof. 
 (c) Executive shall reside in St. Louis, Missouri, USA and travel to other
locations, as required to perform his duties. 
 2. TERM OF AGREEMENT. This Agreement shall be effective on the date
hereof (the “Effective Date”) and shall end on the first anniversary of the Effective Date. The term of this Agreement shall be automatically extended thereafter for successive one (1) year periods unless, at least ninety
(90) days prior to the end of the initial term of this Agreement or the then current succeeding one-year extended term of this Agreement, the Company or Executive has notified the other that the term hereunder shall terminate upon its
expiration date. The initial term of this Agreement, as it may be extended from year to year thereafter, is herein referred to as the “Term.” The foregoing to the contrary notwithstanding, upon the occurrence of a Change in Control
(defined below) at any time after the first anniversary of the Effective Date, the Term of this Agreement shall be extended to the second anniversary of the date of the 

 
occurrence of such Change in Control and shall be subject to expiration thereafter upon notice by Executive or the Company to the other party or to automatic successive additional one-year
periods, as the case may be, in the manner provided above. If Executive remains employed by the Company beyond the expiration of the Term, he shall be an employee at-will; except that any provisions identified as surviving shall continue. In all
events hereunder, Executive’s employment is subject to earlier termination pursuant to Section 7 hereof, and upon such earlier termination the Term shall be deemed to have ended. 

3. BASE SALARY. As of the Effective Date, the Company shall pay Executive a base salary (the “Base Salary”) at an
annual rate of $400,000, payable in accordance with the regular payroll practices of the Company. Executive’s Base Salary shall be subject to annual review by the Company’s Chief Executive Officer (“CEO”) and may be
increased from time to time by the CEO (as approved by the Compensation Committee of the Board of Directors of the Company). The base salary as determined herein from time to time shall constitute “Base Salary” for purposes of this
Agreement. 
 4. ANNUAL CASH INCENTIVE. Executive shall continue to be eligible to participate in the Company’s
management cash incentive plan and any successor annual cash plans. Executive shall have the opportunity to earn an annual target cash incentive, measured against performance criteria to be determined by the Company’s Board (or a committee
thereof) having a grant date of not less than 70% of Base Salary. 
 5. EQUITY AWARDS. 

(a) LONG-TERM INCENTIVE AWARDS. 
 (i) Executive shall continue to be eligible for annual long-term incentive awards throughout the Term under such long-term incentive plans and programs as may be in effect from time to time in accordance
with the Company’s compensation practices and the terms and provisions of any such plans or programs; provided, that Executive’s participation in such plans and programs shall be at a level and on terms and conditions consistent with
participation by other senior executives of the Company, as the Board or the Committee shall determine in its sole discretion, with due consideration of Executive’s position, awards granted to other senior executives of the Company and
competitive compensation data. The Executive’s target for participating in the Company’s plan shall be 120% of Base Salary. 
 (ii) All long-term incentive awards to Executive shall be granted pursuant to and shall be subject to all of the terms and conditions imposed upon such awards granted under the Plan. 

(b) STOCK OWNERSHIP. Executive shall be subject to, and shall comply with, the stock ownership guidelines of the Company as may be
in effect from time to time. Executive shall have five (5) years to satisfy the stock ownership guidelines applicable to Executive. As of the effective date of the Original Agreement, the Executive’s annual interim target for share
accumulation is 20% after the first year, 40% after the second year, 60% after the third year, and 80% after the fourth year. 

  
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 6. EMPLOYEE BENEFITS. As of the Effective Date: 

(a) BENEFIT PLANS. Executive shall be entitled to participate in all employee benefit plans of the Company including, but not limited to,
relocation policy, equity, pension, thrift, profit sharing, medical coverage, education, or other retirement or welfare benefits that the Company has adopted or may adopt, maintain or contribute to for the benefit of its senior executives in
accordance with the terms of such plans and programs. 
 (b) VACATION. Executive shall be entitled to annual paid vacation in
accordance with the Company’s policy applicable to senior executives. 
 (c) BUSINESS AND ENTERTAINMENT EXPENSES. Upon
presentation of appropriate documentation, Executive shall be reimbursed in accordance with the Company’s expense reimbursement policy for all reasonable and necessary business expenses incurred in connection with the performance of
Executive’s duties hereunder. 
 (d) CERTAIN AMENDMENTS. Nothing herein shall be construed to prevent the Company from
amending, altering, terminating or reducing any plans, benefits or programs. 
 7. TERMINATION. Executive’s
employment and the Term shall terminate on the first of the following to occur: 
 (a) DISABILITY. Upon written notice by the
Company to Executive of termination due to Disability, while Executive remains Disabled. For purposes of this Agreement, “Disability” shall have the meaning defined under the Company’s then-current long-term disability
insurance plan in which Executive participates. 
 (b) DEATH. Automatically on the date of death of Executive. 

(c) CAUSE. Immediately upon written notice by the Company to Executive of a termination of Executive’s employment for Cause.
“Cause” shall mean: 
 (i) Executive’s willful and continued failure to perform
substantially his duties owed to the Company or its affiliates after a written demand for substantial performance is delivered to him specifically identifying the nature of such unacceptable performance, which is not cured by Executive within a
reasonable period, not to exceed thirty (30) days; 
 (ii) Executive is convicted of (or pleads guilty or no
contest to) a felony or any crime involving moral turpitude; or 
 (iii) Executive has engaged in conduct that
constitutes gross misconduct in the performance of his employment duties. 

  
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 An act or omission by Executive shall not be “willful” if conducted in good faith
and with Executive’s reasonable belief that such conduct is in the best interests of the Company. 
 (d) WITHOUT CAUSE.
Upon written notice by the Company to Executive of an involuntary termination of Executive’s employment other than for Cause (and other than due to his Disability). 
 (e) GOOD REASON. Upon written notice by Executive to the Company of a voluntary termination of Executive’s employment at any time during a Protection Period (defined in Section 10 below), for
Good Reason. “Good Reason” shall mean, without the express written consent of Executive, the occurrence of any of the following events during a Protection Period: 

(i) Executive’s Base Salary or annual target cash incentive opportunity is materially reduced; 

(ii) Executive’s duties or responsibilities are negatively and materially changed in a manner inconsistent with
Executive’s position (including status, offices, titles, and reporting responsibilities) or authority; or 

(iii) The Company requires Executive’s principal office to be relocated more than 50 miles from its location as of
the date immediately preceding the Change in Control. 
 Prior to any termination by Executive for “Good Reason,” he
shall provide the Board not less than thirty (30) nor more than ninety (90) days’ notice, with specificity, of the grounds constituting Good Reason and an opportunity within such notice period for the Company to cure such grounds. The
notice shall be given within ninety (90) days following the initial existence of grounds constituting Good Reason for such notice and subsequent termination, if not so cured above, to be effective. 

(f) VOLUNTARY TERMINATION FOR ANY REASON (WITHOUT GOOD REASON DURING A PROTECTION PERIOD). Upon at least thirty (30) days’
prior written notice by Executive to the Company of Executive’s voluntary termination of employment (i) for any reason prior to or after a Protection Period or (ii) without Good Reason during a Protection Period, in either case which
the Company may, in its sole discretion, make effective earlier than any termination date set forth in such notice. 

  
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 8. CONSEQUENCES OF TERMINATION. Any termination payments made and benefits provided
under this Agreement to Executive shall be in lieu of any termination or severance payments or benefits for which Executive may be eligible under any of the plans, policies or programs of the Company or its affiliates, it being understood that any
Long-Term Awards (as defined in Section 11 hereof) shall be treated as addressed in Section 11 hereof. Upon termination of Executive’s employment, the following amounts and benefits shall be due to Executive: 

(a) DEATH; DISABILITY. If Executive’s employment terminates due to Executive’s death or Disability, then the Company shall pay
or provide Executive (or the legal representative of his estate in the case of his death) with: 
 (i) (A) any
accrued and unpaid Base Salary through the date of termination and any accrued and unused vacation in accordance with Company policy; and (B) reimbursement for any unreimbursed expenses, incurred and documented in accordance with applicable
Company policy, through the date of termination (collectively, “Accrued Obligations”); 
 (ii)
Any unpaid cash incentive award earned with respect to any fiscal year ending on or preceding the date of termination, payable when annual cash incentives are paid generally to senior executives for such year; 

(iii) A pro-rated annual cash incentive award for the fiscal year in which such termination occurs, the amount of which
shall be based on actual performance under the applicable annual cash incentive plan and a fraction, the numerator of which is the number of days elapsed during the performance year through the date of termination and the denominator of which
is 365, which pro-rated cash incentive award shall be paid when awards are paid generally to senior executives for such year; 
 (iv) Any disability insurance benefits, or life insurance proceeds, as the case may be, as may be provided under the Company plans in which Executive participates immediately prior to such termination;
and 
 (b) VOLUNTARY TERMINATION (INCLUDING VOLUNTARY TERMINATION WITHOUT GOOD REASON DURING A PROTECTION PERIOD); INVOLUNTARY
TERMINATION WITHOUT CAUSE AT OR AFTER AGE 65; INVOLUNTARY TERMINATION FOR CAUSE. 
 (i) If Executive’s
employment should be terminated (i) by Executive for any reason at any time other than during a Protection Period, or (ii) by Executive without Good Reason during a Protection Period, then the Company shall pay to Executive any Accrued
Obligations in accordance with Section 8(a)(i). 
 (ii) If Executive’s employment is terminated by the
Company without Cause and other than for Disability at or after Executives’ attainment of age 65, the Company shall pay to Executive any Accrued Obligations. 

(iii) If Executive’s employment is terminated by the Company for Cause, the Company shall pay to Executive any
Accrued Obligations. 
 (c) TERMINATION WITHOUT CAUSE. If at any time (A) prior to Executive’s attainment of age 65
and (B) other than during a Protection Period, Executive’s employment by the Company is terminated by the Company without Cause (and other than a termination for Disability), then the Company shall pay or provide Executive with:

 (i) Executive’s Accrued Obligations, payable in accordance with Section 8(a)(i); 

  
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 (ii) Any unpaid annual cash incentive earned with respect to any fiscal year
ending on or preceding the date of termination, payable when such incentives are paid generally to senior executives for such year; 
 (iii) A pro-rated annual cash incentive for the fiscal year in which such termination occurs, the amount of which shall be based on actual performance under the applicable annual cash incentive plan and a
fraction, the numerator of which is the number of days elapsed during the performance year through the date of termination and the denominator of which is 365, which pro-rated annual cash incentive award shall be paid when awards are paid
generally to senior executives for such year; 
 (iv) Severance payments in the aggregate amount equal to the sum
of (A) Executive’s then Base Salary plus (B) his annual target cash incentive, which amount shall be payable to Executive in equal semi-monthly payroll installments over a period of twelve (12) months; 

For purposes of this subparagraph (iv) each installment severance payment to Executive under this subparagraph
(iv) shall be treated as a separate payment (within the meaning of Section 409A). 
 Provided, anything
herein to the contrary notwithstanding, if on the date of termination, Executive is a “specified employee” of the Company (as defined in Treasury Regulation Section 1.409A-1(i)), to the extent that such severance payments (and any
other payments and benefits provided in Section 8) constitute a “deferral of compensation” under a “nonqualified deferred compensation plan” under Section 409A and Treasury Regulation Section 1.409A-1, the
following provisions shall apply (“Safe Harbor and Postponement”): 
 (1) If such payments and
benefits are payable on account of Executive’s “involuntary separation from service” (as defined in Treasury Regulation Section 1.409A-1(n)), Executive shall receive such amount of his severance payments during the six (6)-month
period immediately following the date of termination as equals the lesser of: (x) such severance payment amount due Executive under Section 8 during such six (6)-month period or (y) two (2) multiplied by the compensation limit in
effect under Section 401(a)(17) of the Code, for the calendar year in which the date of termination occurs and as otherwise provided under Treasury Regulation Section 1.409A-1(b)(9)(iii) and shall be entitled to such of his benefits as
satisfy the exception under Treasury Regulation Section 1.409A-1(b)(9)(v) (“Limitation Amount”). 
 (2) To the extent that, upon such “involuntary separation from service,” the amount of payments and benefits that would have been payable to Executive under Section 8 during the six
(6)-month period following the last day of his employment exceeds the Limitation Amount, such excess shall be paid on the first regular semi-monthly payroll date following the expiration of such six (6)-month period. 

  
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 (3) If the Company reasonably determines that such employment termination is
not such an “involuntary separation from service,” all such payments and benefits that would have been payable to the Executive under Section 8 during the six (6)-month period immediately following the date of termination, but for
such determination, shall be paid on the first regular semi-monthly payroll date immediately following the expiration of such six (6)-month period following the date of termination. 

(4) Any payments under this Section 8(c) that are postponed pursuant to the Safe Harbor and Postponement shall accrue
interest at an annual rate (compounded monthly) equal to the short-term applicable federal rate (as in effect under Section 1274(d) of the Code on the last day of the Executive’s employment) plus 100 basis points, which interest shall be
paid on the first regular semi-monthly payroll date immediately following the expiration of the six (6)-month period following the date of termination. 
 (v) Subject to Executive’s continued co-payment of premiums, continued participation for twelve (12) months in the Company’s medical benefits plan which covers Executive and his eligible
dependents upon the same terms and conditions (except for the requirements of Executive’s continued employment) in effect for active employees of the Company. In the event Executive obtains other employment that offers substantially similar or
more favorable medical benefits, such continuation of coverage by the Company under this subsection shall immediately cease. The continuation of health benefits under this subsection shall reduce the period of coverage and count against
Executive’s right to healthcare continuation benefits under COBRA. 
 9. CONDITIONS. Any payments or benefits made
or provided to Executive pursuant to any subsection of Section 8, other than Accrued Obligations, are subject to Executive’s: 
 (a) compliance with the provisions of Section 12 hereof; 
 (b) delivery to
the Company of an executed Agreement and General Release (the “General Release”), which shall be substantially in the form attached hereto as Exhibit A within twenty-one (21) days after presentation thereof by the
Company to Executive; and 
 (c) delivery to the Company of a resignation from all offices, directorships and fiduciary
positions held by Executive with the Company, its affiliates and employee benefit plans. 
 Notwithstanding the due date of any post-employment
payments, any amounts due following a termination under this Agreement (other than Accrued Obligations) shall not be payable until after the expiration of any statutory revocation period applicable to the General Release without Executive having
revoked such General Release, and, subject to the provisions of Section 21 hereof, any such amounts shall be paid to Executive within thirty (30) days thereafter. Notwithstanding the foregoing, Executive shall be entitled to any Accrued
Obligations, payable without regard for the conditions of this Section 9. 

  
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 10. CHANGE IN CONTROL; EXCISE TAX. 

(a) CHANGE IN CONTROL. A “Change in Control” of the Company shall be deemed to have occurred if any of the events set
forth in any one of the following subparagraphs shall occur: 
 (i) The acquisition by any individual, entity or
group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3
promulgated under the Exchange Act) of more than 50% of either (i) the then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (ii) the combined voting power of the
then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (a), the following
acquisitions shall not constitute a Change of Control: (1) any acquisition directly from the Company, (2) any acquisition by the Company, (3) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by
the Company or any corporation controlled by the Company, or (4) any acquisition by any corporation pursuant to a transaction which complies with clauses (1) and (2) of subsection (iii) of this definition; 

(ii) individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any
reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of
at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board; 
 (iii) consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), in each
case, unless, following such Business Combination, (1) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities
immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then-outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to
vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially
all of the Company’s assets either directly or through one or more subsidiaries) and in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Common Stock and
Outstanding Company Voting Securities, as the case may be, and (2) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the
execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 

  
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 (iv) approval by the shareholders of the Company of a complete liquidation
or dissolution of the Company. 
 (b) QUALIFYING TERMINATION. If, prior to Executive’s attainment of age 65,
Executive’s employment is involuntarily terminated by the Company without Cause (and other than due to his Disability) or is voluntarily terminated by Executive for Good Reason, in either case only during the period commencing on the occurrence
of a Change in Control of the Company and ending on the second anniversary of date of the Change in Control (“Protection Period”), then the Company shall pay or provide Executive with: 

(i) Executive’s Accrued Obligations, payable in accordance with Section 8(a)(i); 

(ii) Any unpaid annual cash incentive award earned with respect to any fiscal year ending on or preceding the date of
termination, payable when awards are paid generally to senior executives for such year; 
 (iii) A pro-rated
annual cash incentive for the fiscal year in which such termination occurs, the amount of which shall be based on target performance and a fraction, the numerator of which is the number of days elapsed during the performance year through the date of
termination and the denominator of which is 365, which pro-rated annual cash incentive award shall be paid when awards are paid generally to senior executives for such year; 

(iv) A lump sum severance payment in the aggregate amount equal to the product of (A) the sum of
(1) Executive’s highest Base Salary during the Protection Period plus (2) his annual target annual cash incentive award multiplied by (B) two (2); provided, unless the Change of Control occurring on or preceding such termination
also meets the requirements of Section 409A(a)(2)(A)(v) and Treasury Regulation Section 1.409A-3(i)(5) (or any successor provision) thereunder (a “409A Change in Control”), the amount payable to Executive under this
subparagraph (iv) shall be paid to Executive in equal semi-monthly payroll installments over a period of twenty-four (24) months, not in a lump sum, to the extent necessary to avoid the application of Section 409A(a)(1)(A) and (B);

 (v) Subject to Executive’s continued co-payment of premiums, continued participation for two
(2) years in the Company’s medical benefits plan which covers Executive and his eligible dependents upon the same terms and conditions (except for the requirements of Executive’s continued employment) in effect for active employees of
the Company. In the event Executive obtains other employment that offers substantially similar or more favorable medical benefits, such continuation of coverage by the Company under this subsection shall immediately cease. The continuation of health
benefits under this subsection shall reduce the period of coverage and count against Executive’s right to healthcare continuation benefits under COBRA; and 

  
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 (vi) Payments falling under Section 10(b)iv shall, if to be paid in a
lump sum pursuant to such section, be paid within ten (10) business days after the Executive’s termination of employment. 
 Provided, to the extent applicable under Section 409A as a “deferral of compensation,” and not as a “short-term deferral” under Treasury Regulation Section 1.409A-1(b)(4),
the payments and benefits payable to Executive under this Section 10(b) shall be subject to the Safe Harbor and Postponement provided at Section 8(c)(iv). 
 (c) EXCISE TAX. If it is determined that any amount, right or benefit paid or payable (or otherwise provided or to be provided) to the Executive by the Company or any of its affiliates under this
Agreement or any other plan, program or arrangement under which Executive participates or is a party, other than amounts payable under this Section 10(c), (collectively, the “Payments”), would constitute an “excess
parachute payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (“Code”), subject to the excise tax imposed by Section 4999 of the Code, as amended from time to time (the
“Excise Tax”), Executive will have the option of either paying the Excise Tax or reducing the amount of Payments to the safe harbor level of the Code less $1.00. 

11. LONG-TERM AWARDS. All of Executive’s stock options, stock appreciation rights, restricted stock units, performance share
units and any other long-term incentive awards granted under any long-term incentive plan of the Company, whether granted before or after the Effective Date (collectively “Long-Term Awards”), shall remain in effect in accordance
with their terms and conditions, including with respect to the consequences of the termination of Executive’s employment or a change in control, and shall not be in any way amended, modified or affected by this Agreement. 

12. EXECUTIVE COVENANTS. 
 (a) CONFIDENTIALITY. Executive agrees that Executive shall not, commencing on the date hereof and at all times thereafter, directly or indirectly, use, make available, sell, disclose or otherwise
communicate to any person, other than in the course of Executive’s employment and for the benefit of the Company, any nonpublic, proprietary or confidential information, knowledge or data relating to the Company, any of its subsidiaries,
affiliated companies or businesses, which shall have been obtained by Executive during Executive’s employment by the Company. The foregoing shall not apply to information that (i) was known to the public prior to its disclosure to
Executive; (ii) becomes known to the public subsequent to disclosure to Executive through no wrongful act of Executive or any representative of Executive; or (iii) Executive is required to disclose by applicable law, regulation or legal
process (provided that Executive provides the Company with prior notice of the contemplated disclosure and reasonably cooperates with the Company at its expense in seeking a protective order or other appropriate protection of such information).
Notwithstanding clauses (i) and (ii) of the preceding sentence, Executive’s obligation to maintain such disclosed information in confidence shall not terminate where only portions of the information are in the public domain.

  
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 (b) NONSOLICITATION. Commencing on the date hereof, and continuing during Executive’s
employment with the Company and for the twelve (12) month period following termination of Executive’s employment for any reason (a twenty-four (24) month post-employment period in the event of a termination of Executive’s
employment for any reason at any time during a Protection Period) (“Restricted Period”), Executive agrees that Executive shall not, without the prior written consent of the Company, directly or indirectly, individually or on behalf
of any other person, firm, corporation or other entity: (i) solicit, recruit or employ (whether as an employee, officer, director, agent, consultant or independent contractor) any person who was or is at any time during the six (6) months
preceding Executive’s termination of employment an employee, representative, officer or director of the Company; (ii) take any action to encourage or induce any employee, representative, officer or director of the Company to cease their
relationship with the Company for any reason; or (iii) knowingly solicit, aid or induce any customer of the Company or any of its subsidiaries or affiliates to purchase goods or services then sold by the Company or any of its subsidiaries or
affiliates from another person, firm, corporation or other entity or assist or aid any other persons or entity in identifying or soliciting any such customer. 
 (c) NONCOMPETITION. Executive acknowledges that Executive performs services of a unique nature for the Company that are irreplaceable, and that Executive’s performance of such services to a competing
business will result in irreparable harm to the Company. Accordingly, during the Restricted Period, Executive agrees that Executive shall not, directly or indirectly, own, manage, operate, control, be employed by (whether as an employee, consultant,
independent contractor or otherwise, and whether or not for compensation) or render services to any person, firm, corporation or other entity, in whatever form, engaged in any business of the same type as any business in which the Company or any of
its subsidiaries or affiliates is engaged on the date of termination or in which they have proposed, on or prior to such date, to be engaged in on or after such date at any time during the twelve (12)-month period ending with the date of termination
for any reason (a twenty-four month post-employment period in the event of termination of Executive’s employment for any reason at any time during a Protection Period) , in any locale of any country in which the Company conducts business. This
Section 12(c) shall not prevent Executive from owning not more than two percent (2%) of the total shares of all classes of stock outstanding of any publicly held entity engaged in such business. 

(d) NONDISPARAGEMENT. Each of Executive and the Company (for purposes hereof, “the Company” shall mean only (i) the
Company by press release or other formally released announcement and (ii) the executive officers and directors thereof and not any other employees) agrees not to make any public statements that disparage the other party, or in the case of the
Company, its respective affiliates, employees, officers, directors, products or services. Notwithstanding the foregoing, statements made in the course of sworn testimony in administrative, judicial or arbitral proceedings (including, without
limitation, depositions in connection with such proceedings) shall not be subject to this Section 12(d). Executive’s provision shall also not cover normal competitive statements which do not cite Executive’s employment by the
Company. 
 (e) RETURN OF COMPANY PROPERTY AND RECORDS. Executive agrees that upon termination of Executive’s employment,
for any cause whatsoever, Executive will surrender to the Company in good condition (reasonable wear and tear excepted) all property and equipment belonging to the Company and all records kept by Executive containing

  
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the names, addresses or any other information with regard to customers or customer contacts of the Company, or concerning any proprietary or confidential information of the Company or any
operational, financial or other documents given to Executive during Executive’s employment with the Company. 
 (f)
COOPERATION. Executive agrees that, following termination of Executive’s employment for any reason, Executive shall upon reasonable advance notice, and to the extent it does not interfere with previously scheduled travel plans and does not
unreasonably interfere with other business activities or employment obligations, assist and cooperate with the Company with regard to any matter or project in which Executive was involved during Executive’s employment, including any litigation.
The Company shall compensate Executive for reasonable expenses incurred in connection with such cooperation and assistance. 

(g) ASSIGNMENT OF INVENTIONS. Executive will promptly communicate and disclose in writing to the Company all inventions and developments
including software, whether patentable or not, as well as patents and patent applications (hereinafter collectively called “Inventions”), made, conceived, developed, or purchased by Executive, or under which Executive acquires the
right to grant licenses or to become licensed, alone or jointly with others, which have arisen or jointly with others, which have arisen or may arise out of Executive’s employment, or relate to any matters pertaining to, or useful in connection
therewith, the business or affairs of the Company or any of its subsidiaries. Included herein as if developed during the employment period is any specialized equipment and software developed for use in the business of the Company. All of
Executive’s right, title and interest in, to, and under all such Inventions, licenses, and right to grant licenses shall be the sole property of the Company. Any such Inventions disclosed to anyone by Executive within one (1) year after
the termination of employment for any cause whatsoever shall be deemed to have been made or conceived by Executive during the Term. As to all such Inventions, Executive will, upon request of the Company execute all documents which the Company deems
necessary or proper to enable it to establish title to such Inventions or other rights, and to enable it to file and prosecute applications for letters patent of the United States and any foreign country; and do all things (including the giving of
evidence in suits and other proceedings) which the Company deems necessary or proper to obtain, maintain, or assert patents for any and all such Inventions or to assert its rights in any Inventions not patented. 

(h) EQUITABLE RELIEF AND OTHER REMEDIES. The parties acknowledge and agree that the other party’s remedies at law for a breach or
threatened breach of any of the provisions of this Section 12 would be inadequate and, in recognition of this fact, the parties agree that, in the event of such a breach or threatened breach, in addition to any remedies at law, the other party,
without posting any bond, shall be entitled to obtain equitable relief in the form of specific performance, temporary restraining order, a temporary or permanent injunction or any other equitable remedy which may then be available. 

(i) REFORMATION. If it is determined by a court of competent jurisdiction in any state that any restriction in this Section 12 is
excessive in duration or scope or is unreasonable or unenforceable under the laws of that state, it is the intention of the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent
permitted by the law of that state. 

  
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 (j) SURVIVAL OF PROVISIONS. The obligations of Executive set forth in this Section 12
shall survive the termination of Executive’s employment by the Company and the termination or expiration of this Agreement and shall be fully enforceable thereafter. 
 13. NO ASSIGNMENTS. 
 (a) This Agreement is personal to each of the parties
hereto. Except as provided in Section 13(b) below, no party may assign or delegate any rights or obligations hereunder without first obtaining the written consent of the other party hereto. 

(b) The Company shall assign this Agreement to any successor to all or substantially all of the business or assets of the Company
provided that the Company shall require such successor to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place and shall
deliver a copy of such assignment to Executive. 
 14. NOTICE. For the purpose of this Agreement, notices and all other
communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given (a) on the date of delivery if delivered by hand, (b) on the first business day following the date of deposit if delivered by
guaranteed overnight delivery service, or (d) on the fourth business day following the date delivered or mailed by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

If to Executive: 
 Mr. Henk Derksen 
 610 West Polo Drive 

Clayton, Missouri 63105 
 If to the Company: 
 Belden Inc. 7733 Forsyth Boulevard 

Suite 800 
 St.
Louis, Missouri 63105 
 Attn: General Counsel 
 or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 

15. SECTION HEADINGS; INCONSISTENCY. The section headings used in this Agreement are included solely for convenience and shall not
affect, or be used in connection with, the interpretation of this Agreement. In the event of any inconsistency between this Agreement and any other agreement (including but not limited to any option, long-term incentive or other equity award
agreement), plan, program, policy or practice of the Company, the terms of this Agreement shall control. 

  
 13 

 16. SEVERABILITY. The provisions of this Agreement shall be deemed severable and the
invalidity of unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. 

17. ARBITRATION. Any dispute or controversy arising under or in connection with this Agreement, other than injunctive relief under
Section 12(h) hereof or damages for breach of Section 12, shall be settled exclusively by arbitration, conducted before a single arbitrator in St. Louis, Missouri, administered by the American Arbitration Association
(“AAA”) in accordance with its Commercial Arbitration Rules then in effect. The single arbitrator shall be selected by the mutual agreement of the Company and Executive, unless the parties are unable to agree to an arbitrator, in
which case, the arbitrator will be selected under the procedures of the AAA. The arbitrator will have the authority to permit discovery and to follow the procedures that Executive or she determines to be appropriate. The arbitrator will have no
power to award consequential (including lost profits), punitive or exemplary damages. The decision of the arbitrator will be final and binding upon the parties hereto. Judgment may be entered on the arbitrator’s award in any court having
jurisdiction. Each party shall bear its own legal fees and costs and equally divide the forum fees and cost of the arbitrator. 

18. INDEMNIFICATION; LIABILITY INSURANCE. The Company and Executive shall enter into the Company’s standard form of
indemnification agreement governing his conduct as an officer and director of the Company. 
 19. AMENDMENTS; WAIVER. No
provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by Executive and such officer or director as may be designated by the Board. No waiver by either party
hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the
same or at any prior or subsequent time. 
 20. ENTIRE AGREEMENT; MISCELLANEOUS. This Agreement together with all
exhibits hereto sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been
made by either party which are not expressly set forth in this Agreement. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Delaware without regard to its conflicts of law
principles. The descriptive headings in this Agreement are inserted for convenience of reference only and are not intended to be part of or to affect the meaning or interpretation of this Agreement. The use of the word “including” in this
Agreement shall be by way of example rather than by limitation and of the word “or” shall be inclusive and not exclusive. 
 21. CODE SECTION 409A. 
 (a) It is intended that any amounts payable
under this Agreement and the Company’s and Executive’s exercise of authority or discretion hereunder shall comply with the provisions of Section 409A of the Code and the treasury regulations relating thereto so as not to

  
 14 

 
subject Executive to the payment of interest and tax penalty which may be imposed under Section 409A. In furtherance of this interest, anything to the contrary herein notwithstanding, no
amounts shall be payable to Executive before such time as such payment fully complies with the provisions of Section 409A and, to the extent that any regulations or other guidance issued under Section 409A after the date of this Agreement
would result in Executive being subject to payment of interest and tax penalty under Section 409A, the parties agree to amend this Agreement in order to bring this Agreement into compliance with Section 409A. 

(b) With regard to any provision herein that provides for reimbursement of expenses or in-kind benefits, except as permitted by
Section 409A, (i) all such reimbursements shall be made within a commercially reasonable time after presentation of appropriate documentation but in no event later than the end of the year immediately following the year in which Executive
incurs such reimbursement expenses, (ii) no such reimbursements or in-kind benefits will affect any other costs or expenses eligible for reimbursement, or any other in-kind benefits to be provided, in any other year and (iii) no such
reimbursements or in-kind benefits are subject to liquidation or exchange for another payment or benefit. 
 (c) Without
limiting the discretion of either the Company or the Executive to terminate the Executive’s employment hereunder for any reason (or no reason), solely for purposes of compliance with 409A 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 upon or following a termination of employment unless such termination is also a separation from service (within the meaning of Treasury
Regulation Section 1.409A-1(h) (applying the 20% default post-separation limit thereunder)) as an employee and, for purposes of any such provision of this Agreement, references to a “termination” or “termination of
employment” shall mean separation from service as an employee and such payments shall thereupon be made at or following such separation from service as an employee as provided hereunder. 

22. FULL SETTLEMENT. Except as set forth in this Agreement, the Company’s obligation to make the payments provided for in
this Agreement and otherwise to perform its obligations hereunder shall not be affected by any circumstances, including without limitation, set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against
Executive or others, except to the extent any amounts are due the Company or its subsidiaries or affiliates pursuant to a judgment against Executive. In no event shall Executive be obliged to seek other employment or take any other action by way of
mitigation of the amounts payable to Executive under any of the provisions of this Agreement, nor shall the amount of any payment hereunder be reduced by any compensation earned by Executive as a result of employment by another employer, except as
set forth in this Agreement. 
 23. WITHHOLDING. The Company may withhold from any and all 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. 

24. AGREEMENT OF THE PARTIES. The language used in this Agreement will be deemed to be the language chosen by the parties hereto
to express their mutual intent, and no rule of strict construction will be applied against any party hereto. Neither Executive nor the 

  
 15 

 
Company shall be entitled to any presumption in connection with any determination made hereunder in connection with any arbitration, judicial or administrative proceeding relating to or arising
under this Agreement. 
 25. COUNTERPARTS. This Agreement may be executed in several counterparts, each of which shall be
deemed to be an original but all of which together will constitute one and the same instruments. 
 IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date and year first written above. 
  

			
	BELDEN INC.
		
	By:	 	 /s/ John Stroup

		 	John Stroup, President and Chief
		 	Executive Officer
		
	By:	 	 /s/ Henk Derksen

		 	Hendrikus Derksen

  
 16 

 EXHIBIT A 
 GENERAL RELEASE OF ALL CLAIMS 
 1. For and in consideration of the promises
made in the Executive Employment Agreement (defined below), the adequacy of which is hereby acknowledged, the undersigned (“Executive”), for himself, his heirs, administrators, legal representatives, executors, successors, assigns,
and all other persons claiming through Executive, if any (collectively, “Releasers”), does hereby release, waive, and forever discharge Belden Inc. (“Company”), the Company’s subsidiaries, parents, affiliates,
related organizations, employees, officers, directors, attorneys, successors, and assigns (collectively, the “Releasees”) from, and does fully waive any obligations of Releasees to Releasers for, any and all liability, actions,
charges, causes of action, demands, damages, or claims for relief, remuneration, sums of money, accounts or expenses (including attorneys’ fees and costs) of any kind whatsoever, whether known or unknown or contingent or absolute, which
heretofore has been or which hereafter may be suffered or sustained, directly or indirectly, by Releasers in consequence of, arising out of, or in any way relating to Executive’s employment with the Company or any of its affiliates or the
termination of Executive’s employment. The foregoing release and discharge, waiver and covenant not to sue includes, but is not limited to, all claims and any obligations or causes of action arising from such claims, under common law including
wrongful or retaliatory discharge, breach of contract (including but not limited to any claims under the Employment Agreement between the Company and Executive, effective as of January 1, 2010 (the “Employment Agreement”) and
any claims under any stock option and restricted stock units agreements between Executive and the Company) and any action arising in tort including libel, slander, defamation or intentional infliction of emotional distress, and claims under any
federal, state or local statute including Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866 and 1871 (42 U.S.C. § 1981), the National Labor Relations Act, the Age Discrimination in Employment Act (ADEA), the Fair Labor
Standards Act, the Americans with Disabilities Act of 1990, the Rehabilitation Act of 1973, the Missouri Human Rights Act (R.S. MO Section 213.010 et seq.), or the discrimination or employment laws of any state or municipality, or any
claims under any express or implied contract which Releasers may claim existed with Releasees. This release and waiver does not apply to any claims or rights that may arise after the date Executive signs this General Release. The foregoing release
does not apply to any claims of indemnification under the Employment Agreement or a separate indemnification agreement with the Company or rights of coverage under directors and officers liability insurance. 

2. Excluded from this release and waiver are any claims which cannot be waived by law, including but not limited to the right to
participate in an investigation conducted by certain government agencies. Executive does, however, waive Executive’s right to any monetary recovery should any agency (such as the Equal Employment Opportunity Commission) pursue any claims on
Executive’s behalf. Executive represents and warrants that Executive has not filed any complaint, charge, or lawsuit against the Releasees with any government agency or any court. 

3. Executive agrees never to sue Releasees in any forum for any claim covered by the above waiver and release language, except that
Executive may bring a claim under the ADEA to challenge this General Release or as otherwise provided in this General Release. If 

  
 A-1

 
Executive violates this General Release by suing Releasees, other than under the ADEA or as otherwise set forth in Section 1 hereof, Executive shall be liable to the Company for its
reasonable attorneys’ fees and other litigation costs incurred in defending against such a suit. Nothing in this General Release is intended to reflect any party’s belief that Executive’s waiver of claims under ADEA is invalid or
unenforceable, it being the interest of the parties that such claims are waived. 
 4. Executive acknowledges, agrees and
affirms that he is subject to certain post-employment covenants pursuant to Section 12 of the Employment Agreement, which covenants survive the termination of his employment and the execution of this General Release. 

5. Executive acknowledges and recites that: 
 (a) Executive has executed this General Release knowingly and voluntarily; 
 (b)
Executive has read and understands this General Release in its entirety; 
 (c) Executive has been advised and directed orally
and in writing (and this subparagraph (c) constitutes such written direction) to seek legal counsel and any other advice he wishes with respect to the terms of this General Release before executing it; 

(d) Executive’s execution of this General Release has not been coerced by any employee or agent of the Company; and 

(e) Executive has been offered twenty-one (21) calendar days after receipt of this General Release to consider its terms before
executing it. 
 6. This General Release shall be governed by the internal laws (and not the choice of laws) of the State of
Delaware, except for the application of pre-emptive Federal law. 
 7. Executive shall have seven (7) days from the date
hereof to revoke this General Release by providing written notice of the revocation to the Company, as provided in Section 14 of the Employment Agreement, upon which revocation this General Release shall be unenforceable and null and void and
in the absence of such revocation this General Release shall be binding and irrevocable by Executive. 
 PLEASE READ THIS
AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 
  

							
	Date:            , 20    	 		 		 	EXECUTIVE:
				
		 		 		 	  

		 		 		 	Hendrikus Derksen

  
 A-2Stock Purchase Agreement

 Exhibit 10.1 
 [EXECUTION COPY] 
 STOCK PURCHASE AGREEMENT

 THIS STOCK PURCHASE AGREEMENT (this “Agreement”), dated as of December 29, 2011, is
made by and among Sorrento Therapeutics, Inc., a Delaware corporation (the “Company”), and each of the Investors listed on EXHIBIT A-1 and EXHIBIT A-2 attached hereto (each, an
“Investor” and collectively, the “Investors”). 
 RECITALS 

WHEREAS, the Investors desire to acquire from the Company, and the Company desires to issue and sell to the Investors, in the
manner and on the terms and conditions hereinafter set forth, no less than 12,500,000 shares of common stock, $0.0001 par value, of the Company (the “Common Stock”), and no more than 37,500,000 shares of Common Stock
(collectively, the “Shares”). 
 NOW, THEREFORE, in consideration of these premises, the
mutual covenants and agreements herein contained and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the Company and each of the Investors hereby agree as follows: 

SECTION I 

DEFINITIONS. 
 The following terms when used in this Agreement have the following respective meanings: 
 “1933 Act” means the Securities Act of 1933, as amended. 
 “1934 Act” means the Securities Exchange Act of 1934, as amended. 
 “Acceptance Notice” has the meaning set forth in Section 6.2 hereof. 
 “Accepted Securities” has the meaning set forth in Section 6.2 hereof. 
 “Additional Closing” has the meaning set forth in Section 3.1 hereof. 
 “Additional Closing Date” has the meaning set forth in Section 3.1 hereof. 
 “Affiliate” means with respect to any Person, any (i) officer, director, partner or holder of more than 10% of the outstanding shares or equity interests of such Person,
(ii) any relative of such Person, or (iii) any other Person which directly or indirectly controls, is controlled by, or is under common control with such Person. A Person will be deemed to control another Person if such Person possesses,
directly or indirectly, the power to direct or cause the direction of the management and policies of the “Controlled” Person, whether through ownership of voting securities, by contract, or otherwise. For the avoidance of doubt, SDLV,
Donald R. Scifres, the 

 
Donald R. Scifres 2009 Annuity Trust L and any Affiliate of Donald R. Scifres shall deemed to be Affiliates of SDL. 

“Agreement” has the meaning set forth in the preamble hereto. 

“Board” means Company’s Board of Directors. 

“Board Member Designee” has the meaning set forth in Section 5.2 hereof. 

“Business Day” means a day other than Saturday, Sunday or statutory holiday in the State of California and in the
event that any action to be taken hereunder falls on a day which is not a Business Day, then such action shall be taken on the next succeeding Business Day. 
 “Bylaws” means the Amended and Restated Bylaws of the Company, as in effect on the date of this Agreement. 
 “Certificate of Incorporation” means the Certificate of Incorporation of the Company, as amended and restated and as on file with the Secretary of State of the State of Delaware on
the date of this Agreement. 
 “Closing” has the meaning set forth in Section 3.1 hereof.

 “Closing Date” has the meaning set forth in Section 3.1 hereof. 

“Common Stock” has the meaning set forth in the recitals hereto. 

“Company” has the meaning set forth in the preamble hereto. 

“Computershare” has the meaning set forth in Section 3.2(a) hereof. 

“Final Financing Notice” has the meaning set forth in Section 5.1.1 hereof. 

“GAAP” means generally accepted accounting principles in the United States. 

“Governmental Authority” means the United States, any state or municipality, the government of any foreign
country, any subdivision of any of the foregoing, or any authority, department, commission, board, bureau, agency, court, or instrumentality of any of the foregoing. 
 “Initial Closing” has the meaning set forth in Section 3.1 hereof. 
 “Initial Closing Date” has the meaning set forth in Section 3.1 hereof. 
 “Instruction Letter” has the meaning set forth in Section 3.2(a) hereof. 
 “Investor(s)” has the meaning set forth in the preamble hereto. 

  
 -2-

 “Knowledge of the Company” means the actual knowledge of the
officers of the Company after due and diligence inquiry of the employees or agents of the Company reasonably believed to have knowledge of such matters. 
 “Lien” means any mortgage, lien, pledge, security interest, easement, conditional sale or other title retention agreement, or other encumbrance of any kind. 

“Material Adverse Effect” means a change or effect in the condition (financial or otherwise), properties, assets,
liabilities, rights, operations or business of the Company which change or effect, individually or in the aggregate, could reasonably be expected to be materially adverse to such condition, properties, assets, liabilities, rights, operations or
business. 
 “Offer” has the meaning set forth in Section 5.1.1 hereof. 

“Offered Securities” has the meaning set forth in Section 5.1.1 hereof. 

“Person” means an individual, corporation, limited liability company, partnership, joint venture, trust,
unincorporated organization, or Governmental Authority. 
 “Pre-Notice” has the meaning set forth in
Section 5.1.1 hereof. 
 “Pro Rata Portion” shall equal the number of shares of Common Stock
or other securities to be sold by the Company in a Subsequent Placement multiplied by a fraction, the numerator of which shall be the number of shares of Common Stock then owned by SDL and its Affiliates (including shares of Common Stock issuable
upon the conversion of preferred stock and other convertible securities then owned by SDL and its Affiliates) and the denominator of which shall be the total number of shares of the Company’s Common Stock then outstanding (including shares of
Common Stock issuable upon the conversion of preferred stock and other convertible securities then outstanding). 

“Purchase Price” means $0.16 per Share. 
 The terms “Register,” “Registered” and “Registration” refer to a registration effected by preparing and filing a registration
statement in compliance with the 1933 Act (“Registration Statement”), and the declaration or ordering of the effectiveness of such Registration Statement. 

“Registrable Securities” shall mean the Shares beneficially owned by the Investors (and, with respect to SDL,
Shares beneficially owned by SDL and SDL’s Affiliates), and any shares of Common Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security that is issued as) a dividend or other
distribution with respect to, or in exchange for, or in replacement of, the Shares. 
 “Registration
Expenses” shall mean all expenses incurred by the Company in complying with Sections 5.3 and 5.4 of this Agreement, including, without limitation, all federal and state registration, qualification and filing fees, printing
expenses, fees and disbursements of counsel for the Company and fees and disbursements, in an aggregate amount not to exceed $30,000, of not more than one (1) special counsel for the Investors, blue sky fees and expenses, and the expense of any
special audits incident to or required by any such Registration. 

  
 -3-

 “SDL” means Donald R. Scifres 2011 Annuity Trust Y. 

“SDL Shares” means the first 12,500,000 shares of Common Stock (as adjusted for any stock splits, stock
combinations, and similar events occurring after the date hereof) that SDL or its Affiliates propose to Transfer after the date hereof; provided that such 12,500,000 shares shall be increased to include any Shares purchased by SDL or its
Affiliates in the Additional Closing. 
 “SDL Ownership Condition” means SDL (together with its
Affiliates) owns at least 40,000,000 shares of Common Stock (as adjusted for any stock splits, stock combinations, and similar events occurring after the date hereof). 
 “SDLV” means SDL Ventures, LLC. 

“SEC” means the United States Securities and Exchange Commission. 

“SEC Filings” has the meaning set forth in Section 4.2(d) hereof. 

“Selling Expenses” shall mean all underwriting discounts and selling commissions applicable to the sale of
Registrable Securities pursuant to this Agreement, other than the fees and disbursements of one (1) special counsel for the Investors registering securities in any given registration as provided in the definition of “Registration
Expenses” above. 
 “Shares” has the meaning set forth in the recitals hereto. 

“Stockholders” mean the record holders of shares of capital stock of the Company. 

“Subsequent Placement” has the meaning set forth in Section 5.1 hereof. 

“Transfer” has the meaning set forth in Section 6.1 hereof. 

“Transferor” has the meaning set forth in Section 6.1 hereof. 

“Underwriter’s Representative” has the meaning set forth in Section 5.3.2(a) hereof. 

SECTION II 

PURCHASE AND SALE OF COMMON STOCK. 
 2.1 Issuance and Purchase of Common Stock. 
 (a) At the Initial Closing,
based upon the representations, warranties, covenants and agreements of the parties set forth in this Agreement, the Company shall issue and sell to each Investor identified on EXHIBIT A-1 attached hereto, and each such
Investor shall purchase from the Company, that number of Shares set forth opposite such Investor’s name on EXHIBIT A-1 attached hereto. At the Initial Closing, the Company shall deliver to each such Investor a copy of
the Instruction Letter against payment of the purchase price set forth opposite such Investor’s name on EXHIBIT A-1. 

  
 -4-

 (b) At the Additional Closing, if applicable, based upon the representations, warranties,
covenants and agreements of the parties set forth in this Agreement, the Company, in its sole discretion, may issue and sell to one or more additional Investors subsequently identified by the Company by appending
EXHIBIT A-2 to this Agreement, and each such Investor listed on such EXHIBIT A-2 shall purchase from the Company, that number of Shares set forth opposite such Investor’s name on
EXHIBIT A-2 attached hereto. At the Additional Closing, the Company shall deliver to each such Investor a copy of the Instruction Letter against payment of the purchase price set forth opposite such Investor’s name on
EXHIBIT A-2, if any. Each Investor participating in the Additional Closing, if any, shall execute counterpart signature pages to this Agreement and EXHIBIT A-2 may be appended to this Agreement
unilaterally by the Company with no further action or consent of any Investor from the Initial Closing. The Company shall give SDL not less than ten (10) Business Days notice of the scheduled date of the Additional Closing, if any, and SDL and
its Affiliates shall have the right, but not the obligation, upon written notice to the Company within five (5) Business Days of receipt of the Company’s notice, to purchase up to 6,250,000 Shares in the Additional Closing. 

2.2 Payment for Common Stock. At each Closing, for all of the Shares issued in such Closing, each Investor participating in such
Closing shall pay to the Company, in the aggregate, the amount obtained by multiplying the Purchase Price by the number of Shares set forth opposite such Investor’s name on EXHIBIT A-1 or EXHIBIT
A-2 attached hereto, as applicable. The Investors shall pay the purchase price for the Shares by wire transfers of immediately available funds to an account designated in writing by the Company. 

SECTION III 
 THE CLOSING. 
 3.1 Closings. The closing of the issuance and sale of
the Shares referred to on EXHIBIT A-1 pursuant to Section 2.1(a) hereof (the “Initial Closing”) shall take place contemporaneously with the execution of this Agreement by the Company and
the Investors participating in such Closing (the “Initial Closing Date”) at the offices of Latham & Watkins LLP, in San Diego, CA, or such other place as agreed to by the Company and such Investors; provided,
however, that the Initial Closing shall occur by no later than 5 p.m. (PT) on December 30, 2011. The closing of the issuance and sale of the Shares referred to on EXHIBIT A-2 pursuant to Section 2.1(b)
hereof, if applicable (the “Additional Closing” and, together with the Initial Closing, the “Closings”), shall take place contemporaneously with the execution of a counterpart signature page to this
Agreement by each of the Investors participating in such Closing, and acceptance of such counterpart signature page(s) by the Company (the “Additional Closing Date” and, together with the Initial Closing Date,
the “Closing Dates”) at the offices of Latham & Watkins LLP, in San Diego, CA, or such other place as agreed to by the Company and such Investors; provided, however, that the Additional Closing shall
occur by no later than 5 p.m. (PT) on February 29, 2012. 
 3.2 Deliveries by the Company. At each Closing, the
Company shall deliver or cause to be delivered to the Investors participating in such Closing the following items (in addition to any other items required to be delivered to the Investors pursuant to any other provision of this Agreement):

  
 -5-

 (a) a copy of an instruction letter to Computershare Trust Company, N.A., the transfer agent
for the Common Stock, or such successor transfer agent for the Common Stock (in either event, “Computershare”), duly executed by an officer of the Company directing Computershare to promptly issue certificates representing
the Shares being issued and sold by the Company to the Investors pursuant to Section 2.1 hereof, duly recorded on the books of the Company in the names of each of the Investors as set forth on EXHIBIT A-1 or
EXHIBIT A-2, as applicable (bearing a legend that such securities have not been registered under the 1933 Act or any state securities laws) and shall deliver each such letter to Computershare (the “Instruction
Letter”); and 
 (b) a certificate of the Secretary of State of the State of Delaware as to the good standing of
the Company dated within five (5) Business Days prior to the applicable Closing Date. 
 3.3 Deliveries by the
Investors. At each Closing, each of the Investors participating in such Closing shall deliver or cause to be delivered to the Company (in addition to any other items required to be delivered to the Company pursuant to any other provision of this
Agreement), a payment by wire transfer of immediately available funds necessary to satisfy each Investor’s obligations to the Company under Section 2.2 hereof and to result in payment to the Company of the applicable purchase price.

 SECTION IV 
 REPRESENTATIONS AND WARRANTIES. 
 4.1 Representations and Warranties of
the Company. In order to induce each of the Investors to purchase the Shares that it is purchasing hereunder, the Company represents and warrants to each of the Investors (i) participating in the Initial Closing as of the Initial Closing
Date, and (ii) participating in the Additional Closing as of the Additional Closing Date (unless another time is expressly provided for herein) as follows: 
 (a) Organization and Standing. The Company is duly incorporated and validly existing under the laws of the State of Delaware, and has all requisite corporate power and authority to own or lease its
properties and assets and to conduct its business as it is presently being conducted. As of immediately prior to the Initial Closing, the Company did not own any equity interest, directly or indirectly, in any other Person or business enterprise.
The Company is qualified to do business and is in good standing in each jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect upon its assets, properties, financial condition, results of
operations or business. As of immediately prior to the Initial Closing, the Company had no subsidiaries. 
 (b)
Capitalization. As of the Initial Closing Date, the authorized capital stock of the Company is 600,000,000 shares, consisting of (i) 500,000,000 shares of Common Stock, of which 249,809,635 shares are issued and outstanding as of
immediately prior to the Initial Closing and 3,185,000 are reserved for issuance pursuant to outstanding stock options and warrants, and (ii) 100,000,000 shares of preferred stock, par value $0.0001 per share, of which no shares are issued and
outstanding as of immediately prior to the Initial Closing. The Company 

  
 -6-

 
has no other class or series of equity securities authorized, issued, reserved for issuance or outstanding. Except as set forth herein, there are (x) no outstanding options, offers,
warrants, conversion rights, contracts or other rights to subscribe for or to purchase from the Company, or agreements obligating the Company to issue, transfer, or sell (whether formal or informal, written or oral, firm or contingent), shares of
capital stock or other securities of the Company (whether debt, equity, or a combination thereof) or obligating the Company to grant, extend, or enter into any such agreement and (y) no agreements or other understandings (whether formal or
informal, written or oral, firm or contingent) which require or may require the Company to repurchase any of its Common Stock. There are no preemptive or similar rights with respect to the Company’s capital stock. There are no anti-dilution or
price adjustment provisions contained in any security issued by the Company (or in any agreement providing rights to security holders). The Company is not a party to, and, to the Knowledge of the Company, no Stockholder is a party to, any voting
agreements, voting trusts, proxies or any other agreements, instruments or understandings with respect to the voting of any shares of the capital stock of the Company, or any agreement with respect to the transferability, purchase or redemption of
any shares of the capital stock of the Company. The issue and sale of the Shares to the Investors does not obligate the Company to issue any shares of capital stock or other securities to any Person (other than the Investors) and will not result in
a right of any holder of Company securities to adjust the exercise, conversion, exchange or reset price under such securities. The outstanding Common Stock is all duly and validly authorized and issued, fully paid and nonassessable. 

(c) Capacity of the Company; Authorization; Execution of Agreements. The Company has all requisite corporate power, authority and
capacity to enter into this Agreement and to perform the transactions and obligations to be performed by it hereunder. The execution and delivery of this Agreement by the Company, and the performance by the Company of the transactions and
obligations contemplated hereby, including, without limitation, the issuance and delivery of the Shares to the Investors hereunder, have been duly authorized by all requisite action on the part of the Company. This Agreement has been duly executed
and delivered by a duly authorized officer of the Company and constitutes a valid and legally binding agreement of the Company, enforceable in accordance with its terms, except as enforcement thereof may be limited by bankruptcy, insolvency,
reorganization, moratorium or other similar laws of the United States (both state and federal), affecting the enforcement of creditors’ rights or remedies in general from time to time in effect and the exercise by courts of equity powers or
their application of principles of public policy. 
 (d) Status of Shares. The Shares being issued and purchased
hereunder, all of which are to be issued by the Company to the Investors and paid for by the Investors pursuant to the terms of this Agreement, are and will be, when issued, (i) duly authorized, validly issued, fully paid and nonassessable,
(ii) issued in compliance with all applicable United States federal and state securities laws, (iii) subject to restrictions under this Agreement, and applicable United States federal and state securities laws, have the rights and
preferences set forth in the Certificate of Incorporation, and (iv) free and clear of all Liens (except for any Liens imposed on such Shares, directly or indirectly, by the Investors). 

(e) Conflicts; Defaults. The execution and delivery of this Agreement by the Company and the performance by the Company of the
transactions and obligations contemplated hereby and thereby to be performed by it do not (i) violate, conflict with, or constitute a default 

  
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under any of the terms or provisions of, the Certificate of Incorporation, the Bylaws, or any provisions of, or result in the acceleration of any obligation under, any contract, note, debt
instrument, security agreement or other instrument to which the Company is a party or by which the Company, or any of its assets, is bound; (ii) result in the creation or imposition of any Liens (except for any Liens imposed, directly or
indirectly, by the Investors) or claims upon the Company’s assets or upon any of the shares of capital stock of the Company; (iii) constitute a violation of any law, statute, judgment, decree, order, rule, or regulation of a Governmental
Authority applicable to the Company; or (iv) constitute an event which, after notice or lapse of time or both, would result in any of the foregoing. The Company is not presently in violation of its Certificate of Incorporation or Bylaws.

 (f) SEC Filings. The SEC Filings, when filed, complied in all material respects with the requirements of
Section 13 or 15(d) of the 1934 Act, as applicable, did not, as of the dates when filed, contain an untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein not misleading. The SEC Filings are all of the filings that the Company was required to file with the SEC during the periods covered thereby and all such filings were made on a timely basis when due. The financial statements of the Company
included in the SEC Filings complied in all material respects with the rules and regulations of the SEC with respect thereto as in effect at the time of filing. Such financial statements have been prepared in accordance with GAAP applied on a
consistent basis during the periods covered by such financial statements, except as may be otherwise specified in such financial statements or the notes thereto, and fairly present in all material respects the financial position of the Company as of
and for the dates thereof and for the periods indicated, and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments. All material
agreements to which the Company is a party or to which the property or assets of the Company are subject and which are required to be disclosed pursuant to the 1934 Act are included as part of or specifically identified in the SEC Filings.

 (g) Material Changes. Since the date of the latest audited financial statements included within the SEC Filings,
except as disclosed in the SEC Filings, (i) there has been no event that would reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities (contingent or otherwise) other than
(A) trade payables and accrued expenses incurred in the ordinary course of the business consistent with past practice and (B) liabilities not required to be reflected in the Company’s financial statements pursuant to GAAP as required
to be disclosed in filings made with the SEC, (iii) the Company has not altered its method of accounting or the identity of its auditors, (iv) the Company has not declared or made any dividend or distribution of cash or other property to
its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock and (v) the Company has not issued any equity securities to any officer, director or Affiliate, except for securities issued to
SDL or as disclosed in reports filed with the SEC pursuant to Section 16 of the 1934 Act. 
 (h) Absence of
Litigation. There is no action, suit, claim, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the Knowledge of the Company, threatened against the
Company. 

  
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 (i) Brokers, Finders, and Agents. The Company is not, directly or indirectly,
obligated to anyone acting as broker, finder or in any other similar capacity in connection with this Agreement or the transactions contemplated hereby. No Person has or, immediately following the consummation of the transactions contemplated by
this Agreement, will have, any right, interest or valid claim against the Company or, as a result of any action or inaction by the Company, the Investors, in either case for any commission, fee or other compensation as a finder or broker in
connection with the transactions contemplated by this Agreement, nor are there any brokers’ or finders’ fees or any payments or promises of payment of similar nature, however characterized, that have been paid or that are or may become
payable in connection with the transactions contemplated by this Agreement, as a result of any agreement or arrangement made by the Company. 
 (j) Application of Takeover Protections. There is no control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar
anti-takeover provision under the Certificate of Incorporation or Bylaws that is or could become applicable to any of the Investors as a result of the Investors and the Company fulfilling their obligations or exercising their rights under this
Agreement, including without limitation, as a result of the Company’s issuance of the Shares and the Investors’ ownership of the Shares. 
 (k) Absence of Businesses. The Company has not engaged in any business and the Company has no liability or obligation of any kind or nature other than liabilities or obligations that are disclosed
in an SEC Filing or that ordinarily and customarily relate to the maintenance of a public company. 
 (l) Disclosure. All
written disclosure materials provided to the Investors regarding the Company, its business and the transactions contemplated hereby furnished by or on behalf of the Company are true and correct in all material respects and as otherwise contemplated
in this Agreement and do not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein not misleading. No event or circumstance has occurred or information exists with
respect to the Company or its business, properties, operations or financial condition, which, under applicable law, rule or regulation, requires public disclosure or announcement by the Company, but which has not been so publicly announced or
disclosed. 
 (m) Use of Proceeds. The Company will use the net proceeds from the sale of the Common Stock pursuant to
this Agreement for research and development, working capital and general corporate purposes. 
 4.2 Representations and
Warranties of the Investors. Each of the Investors participating in the Initial Closing, and each of the Investors participating in the Additional Closing, if any, hereby severally, but not jointly, represents and warrants to the Company as of
the Initial Closing Date or Additional Closing Date, respectively, as follows: 
 (a) Investment Intent. The Shares being
purchased by the Investor hereunder are being purchased for its own account, not as a nominee or agent, and not with the view to, or for resale in connection with, any distribution or public offering thereof within the meaning of the 1933 Act.
The Investor understands that such Shares have not been registered under the 

  
 -9-

 
1933 Act by reason of their issuance in a transaction exempt from the registration and prospectus delivery requirements of the 1933 Act pursuant to Section 4(2) thereof and/or the
provisions of Rule 506 of Regulation D promulgated thereunder, and under the securities laws of applicable states and agrees to deliver to the Company, if requested by the Company, an investment letter in customary form. The Investor further
understands that the certificates representing such Shares bear a legend substantially similar to the following and agrees that it will hold such Shares subject thereto: 
 THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED DIRECTLY OR INDIRECTLY FROM THE ISSUER WITHOUT BEING REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY
OTHER APPLICABLE SECURITIES LAWS, AND ARE RESTRICTED SECURITIES AS THAT TERM IS DEFINED UNDER RULE 144 PROMULGATED UNDER THE ACT. THESE SHARES MAY NOT BE SOLD, PLEDGED, TRANSFERRED, DISTRIBUTED OR OTHERWISE DISPOSED OF IN ANY MANNER
(“TRANSFER”) UNLESS THEY ARE REGISTERED UNDER THE ACT AND ANY APPLICABLE SECURITIES LAWS, OR UNLESS THE REQUEST FOR TRANSFER IS ACCOMPANIED BY A FAVORABLE OPINION OF COUNSEL, REASONABLY SATISFACTORY TO THE ISSUER, STATING THAT THE TRANSFER
WILL NOT RESULT IN A VIOLATION OF THE ACT OR ANY APPLICABLE SECURITIES LAWS. 
 (b) Capacity of the Investor; Execution of
Agreement. Such Investor has all requisite power, authority and capacity to enter into this Agreement and to perform the transactions and obligations to be performed by it hereunder. The execution and delivery of this Agreement, and the
performance by the Investor of the transactions and obligations contemplated hereby, have been duly authorized by all requisite corporate or individual, as the case may be, action of the Investor. This Agreement has been duly executed and delivered
by the Investor and constitutes a valid and legally binding agreement of the Investor, enforceable in accordance with its terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar
laws, both state and federal, affecting the enforcement of creditors’ rights or remedies in general from time to time in effect and the exercise by courts of equity powers or their application of principles of public policy. 

(c) Accredited Investor/Qualified Institutional Buyer. The Investor is an “accredited investor” as defined in
Rule 501(a) of Regulation D promulgated under the 1933 Act or a “qualified institutional buyer” within the meaning of Rule 144A(a)(1) promulgated under the 1933 Act. 

(d) Suitability and Sophistication. The Investor has (i) such knowledge and experience in financial and business matters that
it is capable of independently evaluating the risks and merits of purchasing the Shares it is purchasing; (ii) independently evaluated the risks and merits of purchasing such Shares and has independently determined that the Shares are a
suitable investment for it; and (iii) sufficient financial resources to bear the loss of its entire investment in such Shares. The Investor has had an opportunity to review: the Company’s annual report on Form 10-K for the year ended
December 31, 2010, the Company’s quarterly reports on 

  
 -10-

 
Form 10-Q for the periods ended March 31, 2011, June 30, 2011 and September 30, 2011, the Company’s current reports on Form 8-K filed with the SEC on
April 7, 2011, April 8, 2011, April 21, 2011 and April 28, 2011, and other filings made by the Company under Section 13(a) of the 1934 Act since September 20, 2009 (the “SEC
Filings”). 
 (e) Brokers, Finders, and Agents. The Investor is not, directly or indirectly, obligated to
anyone acting as broker, finder, or in any other similar capacity in connection with this Agreement or the transactions contemplated hereby. No Person has or, immediately following the consummation of the transactions contemplated by this Agreement,
will have, any right, interest or valid claim against the Company or the Investor for any commission, fee or other compensation as a finder or broker in connection with the transactions contemplated by this Agreement, nor are there any brokers’
or finders’ fees or any payments or promises of payment of similar nature, however characterized, that have been paid or that are or may become payable in connection with the transactions contemplated by this Agreement, as a result of any
agreement or arrangement made by the Investor. 
 (f) Nationality; Residence. Except as may be set forth on
EXHIBIT A-2, each Investor is a citizen of the United States of America and a resident of, or organized within, the state set forth underneath such Investor’s name on EXHIBIT A-1 or
EXHIBIT A-2 attached to this Agreement. 
 (g) General Solicitation. The Investor is not purchasing
the Shares as a result of any advertisement, article, notice or other communication regarding the Shares published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general
solicitation or general advertisement. 
 (h) No Short Sales. Between the time the Investor learned about the
transactions contemplated by this Agreement and the public announcement hereof, the Investor has not engaged in any short sales or similar transactions with respect to the Common Stock or any derivative thereof, nor has the Investor, directly or
indirectly, caused any Person to engage in any short sales or similar transactions with respect to the Common Stock or any derivative thereof, including, without limitation, and in each case, in any transaction aimed, directly or indirectly, at
affecting the price of the Common Stock for purposes of the transactions contemplated by this Agreement. 
 4.3
Rule 144. Each Investor acknowledges that the Shares it will be purchasing must be held indefinitely unless subsequently registered under the 1933 Act or unless an exemption from such registration is available. Except as set forth
in Section 5.3 below, each Investor acknowledges that the Company is neither obligated, nor has the present intention, to register the Shares for resale pursuant to a registration statement filed with the SEC. Each of the Investors is
aware of the provisions of Rule 144 promulgated under the 1933 Act (“Rule 144”) which permit limited resale of shares purchased in a private placement subject to the satisfaction of certain conditions, including,
among other things, the provisions of Rule 144(i), which provide additional conditions that must be satisfied by (a) an issuer with (i) no or nominal operations; and (ii) either (A) no or nominal assets; (B) assets
consisting solely of cash and cash equivalents; or (C) assets consisting of any amount of cash and cash equivalents and nominal other assets; or (b) an issuer that has been at any time previously an issuer described in (a), and each
Investor is 

  
 -11-

 
further aware that the provisions of Rule 144(i) are applicable to the Company. The Company shall use all commercially reasonable efforts to file all periodic and current reports of the
Company with the SEC that are necessary in order to permit the Investors to resell their Shares pursuant to Rule 144. At the time an Investor’s Shares become eligible for resale under the 1933 Act, upon the request of an Investor, the Company
shall use all commercially reasonable efforts to permit such Investor to resell such Shares in a public and/or private transaction, including, without limitation, by coordinating with the Investor and Computershare to have any restrictive legends
relating to the 1933 Act removed from such Shares; provided, however, that the Company shall be permitted to request a legal opinion from counsel to such Investor as to the eligibility of the Shares to be resold pursuant to Rule 144 or
another exemption under the 1933 Act. 
 4.4 Qualified Small Business Stock. The Company and the Investors intend that
the Shares shall constitute “qualified small business stock,” as defined under Section 1202(c) of the Internal Revenue Code of 1986, as amended. 
 SECTION V 
 CERTAIN COVENANTS OF THE COMPANY. 

5.1 Pre-Emptive Rights. SDL and its Affiliates shall have the right to participate in any offer or sale by the Company of any
capital stock or other securities of any type whatsoever that are or may become convertible into capital stock (any such offer or sale being referred to as a “Subsequent Placement”) up to SDL’s Pro Rata Portion on
the same terms, conditions and price provided for in the Subsequent Placement as more particularly set forth below. 
 5.1.1
Procedure. The Company shall deliver, at least ten (10) Business Days prior to the closing of a Subsequent Placement, to SDL, a written notice (the “Pre-Notice”) of any proposed Subsequent Placement (the
“Offer”) describing the securities being offered (the “Offered Securities”), which Pre-Notice shall inquire whether SDL or its Affiliates desire to review the details of the Offer. Upon request of
SDL or an affiliate of SDL for the details of such Offer provided by SDL or such Affiliate of SDL to the Company within three (3) Business Days of SDL’s receipt of the applicable Pre-Notice, the Company will promptly, but in no event later
than one (1) Business Day after such request, deliver a subsequent notice (such additional notice, a “Subsequent Financing Notice”) to SDL or such Affiliate of SDL, which Subsequent Financing Notice shall
(a) identify and describe the Offered Securities; (b) describe in reasonable detail, if known, the price (or anticipated price range) and other terms upon which they are to be issued, sold or exchanged, and the number or amount of the
Offered Securities proposed to be issued, sold or exchanged; and (c) offer to issue and sell to SDL and its Affiliates a portion of such Offered Securities equal to SDL’s Pro Rata Portion. SDL acknowledges that the Subsequent Financing
Notice may not contain the price or other terms upon which the Offered Securities will ultimately be issued; provided that the Company shall deliver to SDL written notice of the price and other definitive terms of the Offered Securities
contemporaneously with all other purchasers of the Offered Securities (the “Final Financing Notice”). 

5.1.2 Acceptance. To accept an Offer, in whole or in part, SDL or an Affiliate of SDL must deliver a written notice to the Company
setting forth the portion of SDL’s Pro Rata 

  
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Portion of such Offered Securities that SDL or such Affiliate of SDL elect to purchase by the date and time that is the later of (a) 5:30 p.m. Eastern Time on the fifth (5th) Business
Day after it receives the Subsequent Financing Notice or (b) twenty-four (24) hours after it receives the Final Financing Notice. 
 5.1.3 Exclusions. The rights and restrictions contained in this Section 5.1 shall not apply to: (a) shares of Common Stock, options, warrants or other convertible securities issued
to employees or officers or directors or outside consultants or contractors of the Company or any subsidiary pursuant to a plan, agreement or arrangement duly approved by the Board; (b) shares of capital stock issued by the Company upon the
exercise or conversion of options or other stock awards outstanding immediately prior to the Initial Closing or issued after the closing in accordance with clause (a) of this Section 5.1.3; (c) shares of capital stock issued by
the Company upon the exercise or conversion of warrants to purchase capital stock of the Company or other convertible securities (i) outstanding immediately prior to the Initial Closing or (ii) issued after the Initial Closing pursuant to
an exemption from this Section 5.1 or otherwise in compliance with this Section 5.1; (d) securities issued in connection with any borrowings, direct or indirect, from a bank or other financial institution by the Company,
provided that such issuance is pursuant to an agreement or arrangement duly approved by the Board; (e) securities issued in connection with the Company obtaining lease financing, whether issued to a lessor, guarantor or other person;
(f) securities issued in connection with the acquisition of all or a substantial portion of the assets or the business of another entity by the Company; (g) securities issued in connection with a corporate partnering transaction, strategic
alliance, technology transfer, license or similar transaction; or (h) any shares of Common Stock sold at a price equal to or greater than the Purchase Price (as adjusted for any stock splits, stock dividends, stock combinations, and similar
events occurring after the date hereof) or any other capital stock or other securities of any type whatsoever convertible into or exchangeable for Common Stock at a price equal to or greater than the Purchase Price (as adjusted for any stock splits,
stock dividends, stock combinations, and similar events occurring after the date hereof). 
 5.1.4 Separate Financing.
Notwithstanding anything to the contrary set forth in this Section 5.1, this Section 5.1 shall not prohibit the Company from consummating a Subsequent Placement if the Company has been advised by an investment bank,
underwriter, placement agent or other financial or legal advisor that compliance with the terms of Section 5.1.1 or Section 5.1.2 could reasonably be expected to jeopardize the ability of the Company to consummate such
Subsequent Placement; provided, however, that, subject to the rules and regulations of the SEC, the NASDAQ Stock Market LLC or any other applicable exchange on which the Company’s Common Stock is listed or quoted, immediately
following the consummation of such Subsequent Placement, the Company shall use commercially reasonably efforts to offer to SDL and its Affiliates the right to purchase up to its Pro Rata Portion of the Offered Securities in such Subsequent Placement
on the same terms, conditions and price provided for in the Subsequent Placement under the same conditions and within the timeframe set forth in Sections 5.1.1 and 5.1.2. 

5.1.5 Termination. The Company’s obligations and the rights of SDL and its Affiliates under this Section 5.1
shall terminate on the earliest of (a) such time as the SDL Ownership Condition ceases to be satisfied; (b) the five (5) year anniversary of the Initial Closing; (c) the date that the Company’s Common Stock is listed on a
national securities 

  
 -13-

 
exchange, including the New York Stock Exchange, the NASDAQ Global Market or the NYSE Alternext (formerly the American Stock Exchange); or (d) the date of the closing of a sale, lease, or
other disposition of all or substantially all of the Company’s assets or the Company’s merger into or consolidation with any other corporation or other entity, or any other corporate reorganization, in which the holders of the
Company’s outstanding voting stock immediately prior to such transaction own, immediately after such transaction, securities representing less than fifty percent (50%) of the voting power of the corporation or other entity surviving such
transaction, provided that this Section 5.1.5 shall not apply to a merger effected exclusively for the purpose of changing the domicile of the Company or a sale of shares by the Company for primarily equity financing purpose.

 5.2 Board of Directors Designee. At the request of SDLV, the Company shall within thirty (30) days of the request
take all necessary acts to have one designee (the “Board Member Designee”) of SDLV nominated for election to the Board, subject to the approval by the remaining Board, which shall not be unreasonably withheld or delayed,
and in all cases subject to compliance with relevant rules and regulations of the SEC and any applicable exchange on which the Company’s Common Stock is listed or quoted. The Board Member Designee must have relevant industry or academic
experience and satisfy the independence requirements of the NASDAQ Global Market or any then applicable exchange on which the Company’s Common Stock is listed or quoted. Subject to the terms and conditions of this Section 5.2, at
SDLV’s request, the Company shall use its commercially reasonable efforts, including preparation of proxy materials and solicitation of the Company’s stockholders, to have the Board Member Designee elected whenever its board seat comes up
for election or for reelection at any regularly scheduled meeting of the Company’s stockholders. The Company’s obligations under this Section 5.2 with respect to the Board Member Designee shall terminate in their entirety if at
any time (i) the SDL Ownership Condition ceases to be satisfied or (ii) the Company’s obligations under this Section 5.2 become inconsistent with the rules, regulations and guidance of the applicable exchange on which the
Company’s Common Stock may become listed or quoted, and in each such case, the Board Member Designee shall resign from the Board effective immediately. In the event that the Board Member Designee resigns in accordance with clause (ii)
above, the Company acknowledges that SDLV shall remain entitled to designate a board member if it is otherwise in compliance with this Section 5.2 and such right is consistent with the rules, regulations and guidance of the applicable
exchange on which the Company’s Common Stock may become listed or quoted. 
 5.3 Piggy-Back Registration Rights.

 5.3.1 Notice of Piggyback Registration and Inclusion of Registrable Securities. Subject to the terms of this
Agreement, in the event the Company decides to Register any of its capital stock (either for its own account or the account of any security holder or holders) on a form (other than a Registration on Form S-4 and Form S-8, as those forms are issued
by the SEC or any substantially similar forms then in effect) that would be suitable for a Registration involving solely Registrable Securities, the Company will: (i) promptly give each Investor written notice thereof (which shall include a
list of the jurisdictions in which the Company intends to attempt to qualify such securities under the applicable Blue Sky or other state securities laws) and (ii) include in such Registration (and any related qualification under Blue Sky laws
or other compliance), and in any underwriting involved therein, all the Registrable 

  
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Securities specified in a written request delivered to the Company by any Investor within fifteen (15) days after delivery of such written notice from the Company. 

5.3.2 Underwriting in Piggyback Registration. 
 (a) Notice of Underwriting in Piggyback Registration. If the Registration of which the Company gives notice pursuant to Section 5.3.1 is for a Registered public offering involving an
underwriting, the Company shall so advise the Investors as a part of the written notice given pursuant to Section 5.3.1. In such event the right of any Investor to Registration shall be conditioned upon such underwriting and the
inclusion of such Investor’s Registrable Securities in such underwriting to the extent provided in this Section 5.3. All Investors proposing to distribute their securities through such underwriting shall (together with the Company
and the other holders distributing their securities through such underwriting) enter into an underwriting agreement with the underwriter selected by the Company (the “Underwriter’s Representative”) for such
offering. The Investors shall have no right to participate in the selection of the underwriters for an offering pursuant to this Section 5.3. 
 (b) Marketing Limitation in Piggyback Registration. In the event the Underwriter’s Representative advises the Investors seeking Registration of Registrable Securities pursuant to this
Section 5.3 in writing that market factors (including, without limitation, the aggregate number of shares of Common Stock requested to be Registered, the general condition of the market, and the status of the persons proposing to sell
securities pursuant to the Registration) require a limitation of the number of shares to be underwritten, the Underwriter’s Representative (subject to the allocation priority set forth in Section 5.3.2(c)) may: 

i. in the case of the Company’s first Registered public offering after the date hereof, exclude some or all Registrable Securities
from such Registration and underwriting; and 
 ii. in the case of any subsequent registered public offering, limit the number
of shares of Registrable Securities to be included in such Registration and underwriting to not less than thirty percent (30%) of the securities included in such Registration (based on aggregate market values); provided that the only
securities included in such Registration are those offered by the Company and/or the Investors. 
 (c) Allocation of Shares
in Piggyback Registration. In the event that the Underwriter’s Representative limits the number of shares to be included in a Registration pursuant to Section 5.3.2(b), the number of shares to be included in such Registration
shall be allocated (subject to Section 5.3.2(b)) in the following manner: The number of shares, if any, that may be included in the Registration and underwriting by selling stockholders shall first be allocated among all the requesting
Investors pro rata according to the respective amounts of Registrable Securities entitled to be included in such offering by such requesting Investors and then among all other holders of securities other than Registrable Securities requesting and
legally entitled to include shares in such Registration, in proportion, as nearly as practicable, to the respective amounts of securities (including Registrable Securities) which such Investors and such other holders would otherwise be entitled to
include in such Registration. No Registrable Securities or other securities excluded from the underwriting by reason of this Section 5.3.2(c)  

  
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shall be included in the Registration Statement. To facilitate the allocation of shares in accordance with the above provisions, the Company or the Underwriter’s Representative may round the
number of shares allocated to any Investor to the nearest one hundred (100) shares. 
 (d) Withdrawal in Piggyback
Registration. If any Investor disapproves of the terms of any such underwriting, he, she or it may elect to withdraw therefrom by written notice to the Company and the underwriter delivered at least seven (7) Business Days prior to the
effective date of the Registration Statement. Any Registrable Securities or other securities excluded or withdrawn from such underwriting shall be withdrawn from such Registration. 

5.3.3 Blue Sky in Piggyback Registration. In the event of any Registration of Registrable Securities pursuant to this
Section 5.3, the Company will exercise its best efforts to Register and qualify the securities covered by the Registration Statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably appropriate
for the distribution of such securities; provided, however, that (i) the Company shall not be required to qualify to do business or to file a general consent to service of process in any such states or jurisdictions, and
(ii) notwithstanding anything in this Agreement to the contrary, in the event any jurisdiction in which the securities shall be qualified imposes a non-waivable requirement that expenses incurred in connection with the qualification of the
securities be borne by selling stockholders, such expenses shall be payable pro rata by selling stockholders. 
 5.4
Registration Procedures. In the case of each registration, qualification or compliance effected by the Company pursuant to Section 5.3, the Company will: 
 5.4.1 Bear all Registration Expenses incurred in connection with Section 5.3. All Selling Expenses relating to securities held by stockholders and being sold in any Registration shall be borne
by the respective holders of such securities Registered pro rata on the basis of the number of shares registered. 
 5.4.2 Keep
each Investor whose Registrable Securities are included in any Registration pursuant to this Agreement advised as to the initiation and completion of such Registration. At its expense the Company will: (i) use its commercially reasonable
efforts to keep such Registration effective for a period of one hundred twenty (120) days or until the Investor or Investors have completed the distribution described in the Registration Statement relating thereto, whichever first occurs; and
(ii) furnish such number of prospectuses (including preliminary prospectuses) in conformity with the Securities Act and such other documents as a Investor from time to time may reasonably request. With respect to clause (i) of the
preceding sentence, the Company may at any time upon written notice to the participating Investors delay the filing or effectiveness of any registration statement or suspend the use or effectiveness of any registration statement (and the Investors
hereby agree not to offer or sell any Registrable Securities pursuant to such registration statement during such time) if the Company reasonably believes that the Company may, in the absence of such delay or suspension hereunder, be required under
state or federal securities laws to disclose any corporate development the disclosure of which could reasonably be expected to have an adverse effect upon the Company, its stockholders, a potentially significant transaction or event involving the
Company, or any negotiations, discussions, or proposals directly relating thereto. 

  
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 5.4.3 Prepare and file with the SEC such amendments and supplements to such registration
statement and the prospectus used in connection with such registration statements as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement for
the periods specified in Section 5.4.2 above; 
 5.4.4 Promptly notify each Investor of Registrable Securities
covered by the registration statement at any time when the Company becomes aware of the happening of any event as a result of which the registration statement or the prospectus included in such registration statement or any supplement to the
prospectus (as then in effect) contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements therein (in the case of the prospectus, in light of the circumstances under which they were made) not
misleading or, if for any other reason it shall be necessary during such time period to amend or supplement the registration statement or the prospectus in order to comply with the Securities Act, whereupon, in either case, each Investor shall
immediately cease to use such registration statement or prospectus for any purpose and, as promptly as practicable thereafter, the Company shall prepare and file with the SEC, and furnish without charge to the appropriate Investors and managing
underwriters, if any, a supplement or amendment to such registration statement or prospectus which will correct such statement or omission or effect such compliance and such copies thereof as the Investors and any underwriters may reasonably
request; 
 5.4.5 Use its commercially reasonable efforts to register and qualify the securities covered by such registration
statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Investors, provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do
business or to file a general consent to service of process in any such states or jurisdictions except as may be required by law; and 
 5.4.6 In the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering.
Each Investor participating in such underwriting shall also enter into and perform its obligations under such an agreement. 

5.5 Information Furnished by Investor. It shall be a condition precedent of the Company’s obligations under Sections
5.3 and 5.4 of this Agreement that each Investor holding Registrable Securities to be included in any Registration furnish to the Company such information regarding such Investor and the distribution proposed by such Investor as the
Company may reasonably request. 
 5.6 Termination of Registration Rights. The Registration rights set forth in
Sections 5.3 and 5.4 shall terminate upon the earlier of (a) seven (7) years after the date hereof or (b) when such Investor is entitled to sell all of such Investor’s Registrable Securities without volume
restriction pursuant to Rule 144. 

  
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 SECTION VI 
 RIGHT OF FIRST REFUSAL ON CERTAIN SDL TRANSFERS. 
 6.1 Notices. If
SDL or any of its Affiliates (collectively, a “Transferor”) proposes to sell, assign, hypothecate or otherwise transfer (a “Transfer”) any of the SDL Shares, other than pursuant to the provisions of
Section 6.4 of this Agreement, the Transferor shall first give the Company the right to purchase such SDL Shares by delivering to it a written offer which shall state the price and other terms and conditions of the proposed Transfer. If
the Transferor proposes to Transfer the SDL Shares for consideration other than solely cash and/or promissory notes, the offer to the Company shall, to the extent of such consideration, permit the Company to pay in lieu thereof, cash equal to the
fair market value of such consideration, and the offer shall state the estimate of such fair market value as determined by the Board. The Transferor shall fix the period of the offer which shall be a minimum of five (5) Business Days or such
longer period as is necessary to determine the fair market value of the consideration referred to in the preceding sentence. 

6.2 Acceptance of Offer. The Company may accept an offer only by giving written notice (“Acceptance
Notice”) to the Transferor before the offer expires that the Company has accepted the offer to purchase some or all of the SDL Shares offered (the “Accepted Securities”). The Company may, in its sole discretion,
assign the right of first refusal set forth in this Section VI to its Affiliates and other stockholders. Within thirty (30) days following the Acceptance Notice, the Company or its permitted assigns shall deliver to the Transferor
payment in full for the Accepted Shares purchased by it against delivery by the Transferor to the Company of a certificate or certificates evidencing the Accepted Securities. 
 6.3 Failure to Exercise. To the extent an Acceptance Notice is not provided pursuant to Section 6.2, the Transferor may, for a period of thirty (30) days thereafter, transfer the
unaccepted SDL Shares, or any of them, at or above the price, and upon the other terms and conditions specified in such offer, to any Person or Persons. 
 6.4 Exempt Transfers. Notwithstanding anything to the contrary contained in this Section VI: 
 6.4.1 Any Transferor which is a partnership or limited liability company may Transfer (without first offering any SDL Shares to the Company) all or any of its SDL Shares to any of its Affiliates or
successor funds or to a partner or retired partner or member or retired member of such partnership or limited liability company, as the case may be, or to one or more direct or indirect partners, directors, officers, members or other equity holders
of any such Affiliates, successor funds, partners or retired partners, members or retired members, or to the estate of any of the foregoing or transfer by will or intestate succession to the spouse or to the siblings, lineal descendants or ancestors
of any of the foregoing or the spouse of any of the foregoing; provided such transferee agrees in writing with the Company, prior to and as a condition precedent to such Transfer, to be bound by all of the provisions of this Section VI;

 6.4.2 Any Transferor which is a corporation may Transfer (without first offering any SDL Shares to the Company) all or any of
its SDL Shares to any of its Affiliates; provided 

  
 -18-

 
such Affiliate agrees in writing with the Company, prior to and as a condition precedent to such Transfer, to be bound by all of the provisions of this Section VI; 

6.4.3. Any Transferor who is an individual may Transfer (without first offering any SDL Shares to the Company) all or any of his or her
SDL Shares to his or her spouse or their spouse’s siblings, lineal descendants or ancestors, nieces or nephews or any person sharing his or her household (other than a tenant or employee), or any entity that is an Affiliate of such Transferor;
provided such transferee agrees in writing with the Company, prior to and as a condition precedent to such Transfer, to be bound by all of the provisions of this Section VI; 

6.4.4. Any Transferor that is a trust may Transfer (without first offering any SDL Shares to the Company) all or any of its SDL Shares to
any settlor or beneficiary of the Transferor, to any settlor or beneficiary’s spouse or their spouse’s siblings, lineal descendants or ancestors, nieces or nephews or any person sharing his or her household (other than a tenant or
employee), or any person that is an Affiliate of such Transferor; provided such transferee agrees in writing with the Company, prior to and as a condition precedent to such Transfer, to be bound by all of the provisions of this Section VI;

 6.4.5 Any Transferor may Transfer (without first offering any SDL Shares to the Company) all or any of its, his or her SDL
Shares pursuant to an underwritten Registered public offering, including, pursuant to Section 5.3 above; and 

6.4.6 Any Transferor may Transfer (without first offering any SDL Shares to the Company) all or any of its, his or her SDL Shares
pursuant to a merger of the Company into or consolidation with any other corporation or other entity, or any other corporate reorganization, in which the holders of the Company’s outstanding voting stock immediately prior to such transaction
own, immediately after such transaction, securities representing less than fifty percent (50%) of the voting power of the corporation or other entity surviving such transaction. 

6.5 Termination. SDL’s obligations and the Company’s rights under this Section VI shall terminate on the earliest
of: (a) the five (5) year anniversary of the Initial Closing; (b) the date that the Company’s Common Stock is listed on a national securities exchange, including the New York Stock Exchange, the NASDAQ National Market or the NYSE
Alternext (formerly the American Stock Exchange); or (c) the date of the closing of a sale, lease, or other disposition of all or substantially all of the Company’s assets or the Company’s merger into or consolidation with any other
corporation or other entity, or any other corporate reorganization, in which the holders of the Company’s outstanding voting stock immediately prior to such transaction own, immediately after such transaction, securities representing less than
fifty percent (50%) of the voting power of the corporation or other entity surviving such transaction, provided that this Section 6.5 shall not apply to a merger effected exclusively for the purpose of changing the domicile
of the Company or a sale of shares by the Company for primarily equity financing purpose. 

  
 -19-

 SECTION VII 
 MISCELLANEOUS. 
 7.1 Waivers and Amendments. This Agreement may be
amended or modified in whole or in part only by a writing which makes reference to this Agreement executed by the Investors and the Company. The obligations of any party hereunder may be waived (either generally or in a particular instance and
either retroactively or prospectively) only with the written consent of the party claimed to have given the waiver; provided, however, that any waiver by any party of any violation of, breach of, or default under any provision of this
Agreement or any other agreement provided for herein shall not be construed as, or constitute, a continuing waiver of such provision, or waiver of any other violation of, breach of or default under any other provision of this Agreement or any other
agreement provided for herein. 
 7.2 Entire Agreement. This Agreement (together with the Exhibits hereto) and the other
agreements and instruments expressly provided for herein, together set forth the entire understanding of the parties hereto and supersede in their entirety all prior contracts, agreements, arrangements, communications, discussions, representations
and warranties, whether oral or written, among the parties with respect to the subject matter hereof. 
 7.3 Governing
Law. This Agreement shall in all respects be governed by and construed in accordance with the internal substantive laws of the State of California without giving effect to the principles of conflicts of law thereof. Each of the parties hereto
irrevocably agrees that any legal action or proceeding arising out of or relating to this Agreement brought by any other party or its successors or assigns shall be brought and determined in any California state or federal court sitting in San Diego
County, California (or, if such court lacks subject matter jurisdiction, in any appropriate California state or federal court), and each of the parties hereby irrevocably submits to the exclusive jurisdiction of the aforesaid courts for itself and
with respect to its property, generally and unconditionally, with regard to any such action or proceeding arising out of or relating to this Agreement and the transactions contemplated hereby. 

7.4 Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ITS RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF
ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT. EACH OF THE PARTIES HERETO ALSO WAIVES ANY BOND OR SURETY OR SECURITY UPON SUCH BOND THAT MIGHT, BUT FOR THIS WAIVER, BE REQUIRED OF THE OTHER PARTY. THE SCOPE OF THIS WAIVER IS INTENDED TO BE
ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THIS AGREEMENT, INCLUDING, BUT NOT LIMITED TO, CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH OF THE
PARTIES HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO THIS AGREEMENT. EACH OF THE PARTIES HERETO HEREBY FURTHER ACKNOWLEDGES AND AGREES THAT EACH HAS REVIEWED OR HAD THE OPPORTUNITY TO REVIEW THIS WAIVER WITH ITS
RESPECTIVE LEGAL COUNSEL, AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH SUCH LEGAL COUNSEL. IN THE EVENT OF LITIGATION, 

  
 -20-

 
THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 

7.5 Public Announcements. Except as provided below in this Section 5.5, none of the parties hereto shall publicly
disclose the execution, delivery or contents of this Agreement other than (i) with the prior written consent of the other parties hereto, or (ii) as required by any applicable law (including for the purpose of holding stockholder or
stockholder meetings and proxies therefor), the applicable rules of any stock exchange, or any Governmental Authority. Without limiting the foregoing, the parties understand that this Agreement, and a summary hereof, will be publicly filed by the
Company with the SEC and that the Company may issue press releases and/or public statements with respect to this Agreement. Nothing contained herein shall prohibit the Company from making any such disclosure if required by any applicable law or any
Governmental Authority. 
 7.6 Notices. Any notice, request or other communication required or permitted hereunder shall
be in writing and be deemed to have been duly given (a) when personally delivered or sent by facsimile transmission (the receipt of which is confirmed in writing), (b) one Business Day after being sent by a nationally recognized overnight
courier service or (c) five Business Days after being sent by registered or certified mail, return receipt requested, postage prepaid, to the parties at their respective addresses set forth below. 

 

			
	If to the Company:	  	 Sorrento Therapeutics, Inc.

6042 Cornerstone Ct. West, Suite B
 San Diego, CA
92121
 Attn: Henry Ji, Ph.D., Interim CEO
 Facsimile: (858) 210-3759

		
	 with courtesy copies
 (not
constituting notice) to:
	  	 Joshua Weingard
 Sorrento
Therapeutics, Inc.
 Corporate Counsel

4400 Biscayne Blvd
 Miami, FL 33137

Facsimile: (305) 575-4130
  
 Cheston Larson
 Latham & Watkins LLP
 12636 High Bluff Dr., Ste 400
 San Diego, CA 92130

Facsimile: (858) 523-5450

		
	if to Investors or SDLV:	  	 At the addresses set forth below each
 Investor’s name on EXHIBIT A-1 or EXHIBIT
 A-2 attached hereto.
 Any party by written notice to the other may

change the address or the persons to whom

notices or copies thereof shall be directed.

  
 -21-

 7.7 Counterparts; Facsimile Signatures. This Agreement may be executed in any number
of counterparts, each of which shall be deemed to be an original, and all of which together will constitute one and the same instrument. Any facsimile, scanned or e-mailed copy of this Agreement will be deemed an original for all purposes and any
facsimile, scanned or e-mailed copy of an original written signature shall be deemed to have the same effect as an original written signature. 
 7.8 Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns, except that the Company
may not assign or transfer its rights hereunder without the prior written consent of the Investors and no Investor may assign or transfer its rights hereunder without the prior written consent of the Company. 

7.9 Third Parties. Nothing expressed or implied in this Agreement is intended, or shall be construed, to confer upon or give any
Person other than the parties hereto and their successors and assigns any rights or remedies under or by reason of this Agreement, provided, however, that SDLV is an intended third party beneficiary of Sections 5.2 and
7.11, and SDL’s Affiliates are intended third party beneficiaries of Section 5.1, Section 5.3, Section 7.11 and the last sentence of Section 2.1(b). 

7.10 Exhibits. The Exhibits attached to this Agreement are incorporated herein and shall be part of this Agreement for all
purposes. 
 7.11 Expenses. After the Initial Closing, the Company shall bear all legal and accounting fees and other
direct expenses incurred by SDLV, SDL and SDL’s Affiliates in connection with the transactions contemplated by this Agreement, in an amount not to exceed US$25,000.00. The Company shall bear and pay all of the legal, accounting and other costs
and expenses incurred by it in connection with the transactions contemplated by this Agreement. 
 7.12 Headings. The
headings in this Agreement are solely for convenience of reference and shall not be given any effect in the construction or interpretation of this Agreement. 
 7.13 Interpretation. Whenever the context may require, any pronoun used herein shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and
verbs shall include the plural and vice versa. 
 [Signature Page Follows] 

  
 -22-

 COUNTERPART SIGNATURE PAGES TO 

STOCK PURCHASE AGREEMENT 
 BY AND AMONG 
 SORRENTO THERAPEUTICS, INC. AND THE INVESTORS

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

			
	COMPANY:
	
	Sorrento Therapeutics, Inc.
		
	By:	 	     /s/ Henry Ji

	Name:	 	Henry Ji, Ph.D.
	Title:	 	Interim CEO

 COUNTERPART SIGNATURE PAGES TO 

STOCK PURCHASE AGREEMENT 
 BY AND AMONG 
 SORRENTO THERAPEUTICS, INC. AND THE INVESTORS

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

			
	INVESTOR:
	
	Donald R. Scifres 2011 Annuity Trust Y
		
	By:	 	 /s/ Donald R. Scifres

	Name:	 	Donald R. Scifres
	Title:	 	Trustee

 Exhibit A-1 
 Initial Closing 
 Schedule of Investors 

 

									
	 Name, Address and

State of Residence or Organization
	  	Number of
Shares Purchased	 	  	Purchase Price	 
	 Donald R. Scifres 2011 Annuity Trust Y
 c/o SDL Ventures, LLC
 480 San Antonio Rd., Suite 200

Mountain View, CA 94040
 Attn: Donald R.
Scifres
 Facsimile: (650) 559-9393
	  	 	12,500,000	  	  	$	2,000,000	  
			
	with a copy to:	  				  			
			
	 Morrison & Foerster LLP

755 Page Mill Rd.
 Palo Alto, CA 94304

Attn: Michael C. Phillips
 Facsimile:
(650) 251-3844

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