Document:

EX-10.16

 Exhibit 10.16 

CERTAIN CONFIDENTIAL INFORMATION, MARKED BY [***] HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT
TREATS AS PRIVATE OR CONFIDENTIAL. 
 EXCLUSIVE LICENSE AGREEMENT 

between 
 THE REGENTS OF THE
UNIVERSITY OF CALIFORNIA 
 and 

AKILI 
 for 

DIAGNOSING AND TRAINING INTERFERENCE ABILITIES 

UC Case No. SF2011-039 

 TABLE OF CONTENTS 

 

					
	Article No.             Title	  	Page	 
	 BACKGROUND
	  	 	1	 
	 1. DEFINITIONS
	  	 	2	 
	 2. GRANT
	  	 	12	 
	 3. SUBLICENSES
	  	 	13	 
	 4. PAYMENT TERMS
	  	 	16	 
	 5. LICENSE ISSUE FEE
	  	 	18	 
	 6. LICENSE MAINTENANCE FEE
	  	 	18	 
	 7. PAYMENTS ON SUBLICENSES
	  	 	18	 
	 8. ROYALTIES
	  	 	20	 
	 9. MILESTONE PAYMENTS
	  	 	21	 
	 10. INDEXED MILESTONES
	  	 	22	 
	 11. PREEMPTIVE RIGHTS
	  	 	23	 
	 12. DUE DILIGENCE
	  	 	24	 
	 13. PROGRESS AND ROYALTY REPORTS
	  	 	25	 
	 14. BOOKS AND RECORDS
	  	 	28	 
	 15. LIFE OF THE AGREEMENT
	  	 	28	 
	 16. TERMINATION BY THE REGENTS
	  	 	29	 
	 17. TERMINATION BY LICENSEE
	  	 	30	 
	 18. DISPOSITION OF LICENSED PRODUCT AND LICENSED SERVICES UPON TERMINATION OR
EXPIRATION
	  	 	30	 
	 19. USE OF NAMES AND TRADEMARKS
	  	 	31	 
	 20. LIMITED WARRANTY
	  	 	31	 
	 21. LIMITATION OF LIABILITY
	  	 	32	 
	 22. COPYRIGHT NOTICE
	  	 	32	 
	 23. PATENT PROSECUTION AND MAINTENANCE
	  	 	33	 
	 24. PATENT MARKING
	  	 	35	 
	 25. PATENT AND COPYRIGHT INFRINGEMENT
	  	 	35	 
	 26. INDEMNIFICATION
	  	 	37	 
	 27. NOTICES
	  	 	39	 
	 28. ASSIGNABILITY
	  	 	40	 

					
	 29. WAIVER
	  	 	40	 
	 30. FORCE MAJEURE
	  	 	40	 
	 31. GOVERNING LAWS; VENUE; ATTORNEYS’ FEES
	  	 	41	 
	 32. GOVERNMENT APPROVAL OR REGISTRATION
	  	 	41	 
	 33. COMPLIANCE WITH LAWS
	  	 	41	 
	 34. CONFIDENTIALITY
	  	 	42	 
	 35. MISCELLANEOUS
	  	 	44	 

 EXCLUSIVE LICENSE AGREEMENT 

for 
 DIAGNOSING AND TRAINING
INTERFERENCE ABILITIES 
 This license agreement (“Agreement”) is made effective this 18 day of October 2013 (“Effective
Date”), by and between The Regents of the University of California, a California corporation, having its statewide administrative offices at 1111 Franklin Street, 12th Floor, Oakland, California 94607-5200 (“The Regents”) and acting
through its University of California, San Francisco Office of Innovation, Technology & Alliances, 3333 California Street, Suite S-11, San Francisco, CA, 94143 (“UCSF”), and Akili Interactive
Labs, Inc., a Delaware corporation, having a principal place of business at 500 Boylston Street, Suite 1600, Boston, Massachusetts 02116 (“Licensee”). 

BACKGROUND 
 A. Certain
inventions, generally characterized as “A method and system for diagnosing and training interference abilities” (collectively “Invention”), were made in the course of research at the University of California, San Francisco, by
Dr. Adam Gazzaley, were disclosed in UC Case No. SF2011-039, and are claimed in Patent Rights, Copyright Rights, and Property Rights as defined below. 

B. The development of the Invention was sponsored in part by the Department of Health and Human Services and, as a consequence, this license
is subject to overriding obligations to the United States Federal Government under 35 U.S.C. §§ 200-212 and applicable regulations including a non-exclusive, non-transferable, irrevocable, paid-up license to practice or have practiced the Invention for or on behalf of the United States Government throughout the world. 

G. The Licensee and The Regents have executed an option agreement (UC Control
No. 2012-11-0004) with an effective date of August 3, 2011 and an end date of March 31, 2012 (“Option Agreement”). 

  
 1 

 H. The Licensee wishes to obtain certain rights from The Regents for the commercial
development of the Invention, in accordance with the terms and conditions set forth herein and The Regents is willing to grant those rights so that the Invention may be developed and the benefits enjoyed by the general public. 

I. The Licensee is a “small business firm” as defined in 15 U.S.C. §632. 

J. Both parties recognize and agree that Earned Fees and Royalties are due under this Agreement with respect to products, services and methods
and that such royalties will be paid with respect to both pending patent applications and issued patents, in accordance with the terms and conditions set forth herein. 

K. The Licensee acknowledges that: (i) consideration for Know-how is due to early access;
(ii) some of the technology in Know-how may become public without a decrease in consideration due to The Regents under this Agreement; and (iii) The Regents may make such technology available to
others without restriction,. 
 - -oo 0 oo- - 

The parties agree as follows: 
 1. DEFINITIONS

 As used in this Agreement, the following terms, whether used in the singular or plural, shall have the following meanings: 

1.1 “Affiliate” of the Licensee means any entity which, directly or indirectly, Controls the Licensee, is Controlled by the Licensee or is
under common Control with the Licensee. “Control” means (i) having the actual, present capacity to elect a majority of the directors of such affiliate; (ii) holding, or having the power to direct the voting of, at least fifty
percent (50%) of the outstanding voting securities (on an as converted to common stock or common interest basis); or (iii) in any country where the local law will not permit foreign equity participation of a majority, ownership or control,
directly or indirectly, of the maximum percentage of such outstanding stock or voting rights permitted by local law. 

  
 2 

 1.2 “Application Store” means a publicly available marketplace in which end users can
purchase software applications for mobile devices and/or phones. For illustrative purposes only, non-limiting examples of Application Stores include: (1) Google Play, (2) Palm/HP App Catalog,
(3) Apple App Store, (4) RIM App World, (5) Nokia Ovi Store, and (6) Microsoft Windows Phone Marketplace. 
 1.3 “Attributed
Income” means the total gross proceeds (including, without limitation, any royalties, license fees, or milestone payments), whether consisting of cash or any other forms of consideration and whether any rights other than Patent Rights are
granted, which gross proceeds are received by the Licensee, any Affiliate, Service Provider and/or Joint Venture from any Sublicensee in consideration of the grant of a sublicense. In the event that a Sublicensee does not pay Attributed Income owed
to Licensee, any Affiliate, Service Provider, and/or Joint Venture, Licensee shall use all remedies available under the law, to obtain such owed and unpaid Attributed Income, and if such efforts are not successful and Licensee has not paid to The
Regents the amount due under Section 7 with respect to the unpaid Attributed Income within [***] ([***]) days after the end of the period in which such payment under Section 7 would have been due, Licensee shall immediately terminate the
sublicense. Notwithstanding the foregoing, Attributed Income shall not include proceeds attributed in such sublicense or such agreement, arrangement or other relationship to bona fide (i) debt financing; (ii) equity (and conditional
equity, such as warrants, convertible debt and the like) investments in the Licensee at market value; (iii) reimbursements of Patent Prosecution Costs actually incurred by the Licensee; and (iv) reimbursement for the cost of research,
development, support, and/or maintenance services to be provided on a going forward basis by Licensee for the applicable Sublicensee under such sublicense or such agreement, arrangement or other relationship at or below commercially reasonable and
standard rates. For the avoidance of doubt, any gross proceeds meeting the definition set forth above in this Paragraph 1.3 shall be “Attributed Income” irrespective of whether such gross proceeds are received under one or more separate
agreements and irrespective of how such gross proceeds are referred to or characterized by the Licensee or the Sublicensee (but subject to the exceptions in clauses (i) through (iv) of this paragraph). Notwithstanding the foregoing, payments
made to Licensee, or any Sublicensee by Distributors for Sales made by or through such Distributors or shall be treated as Net Sales for which Earned Fees and Royalties are owed by Licensee and shall not be treated as Attributed Income received by
Licensee or Sublicensee from the Distributor. 

  
 3 

 1.4 “Beta Version” means a version of a Product that is intentionally made available for no
fee to a limited number of End Users for testing or development purposes and not generally commercially made available for license or use. 
 1.5
“Clinically-Tested” means an IRB approved clinical trial in a specific disease population with patients enrolled in the study for a minimum of [***] ([***]) weeks, the associated costs of which is at least $[***], or a clinical
trial which results in approval by the FDA or an equivalent regulatory body. 
 1.6 “Combination Product” means a combined Product that
contains or uses a Licensed Product or Licensed Service and at least one other Product or process (a “Combination Product Component”), where (i) such Combination Product Component is not a Licensed Product or Licensed Service,
(ii) if such Combination Product Component were removed from such combined Product, the manufacture, use, Sale or import of the resulting Product in or into a particular country would infringe, but for a license, the same Valid Claim in the
country where such manufacture, use, Sale or import occurs as such combined Product and (iii) the market price of such combined Product is higher than the market price for such Licensed Product or Licensed Service as a result of such combined
Product containing or using such Combination Product Component. 
 1.7 “Copyright Rights” means (i) all worldwide rights owned or
controlled by The Regents’ rights under 17 U.S.C. § 101 et seq. and other applicable laws, regulations and rules that attach to the Software and (ii) works considered derivative works thereof under 17 U.S.C. § 101 et seq. that
are developed by Licensee or any Sublicensee after the Effective Date of this Agreement. 
 1.8 

1.9 “Derivative Work” means any software or other work of authorship that under the copyright laws of the United States is a derivative work of the
Software. “Distributor” means any person or entity authorized under a Distributor License Agreement to distribute Licensed Service or copies of Licensed Products in object code form only, or make the functionality of Licensed Products or
Licensed Services accessible (including via a software-as-a-service), to End Users pursuant to End User License Agreements, but
not to modify or create derivative works of any Licensed Product or Licensed Service (other than pursuant to a release of source code under an Escrow Arrangement and then solely for purposes of providing support and maintenance to End Users). 

  
 4 

 1.10 “Distributor License Agreement” means a
non-exclusive sublicense from Licensee or a Sublicensee, to a Distributor, including but not limited to an Application Store, to distribute Licensed Service or copies of Licensed Products in object code form
only, or make the functionality of Licensed Products or Licensed Services accessible (including via a software-as- a-service), to
End Users pursuant to End User License Agreements, but not to modify or create derivative works of any Licensed Product or Licensed Service (other than pursuant to a release of source code under an Escrow Arrangement and then solely for purposes of
providing support and maintenance to End Users). 
 1.11 “Earned Fee and Royalty” means Sublicensee Fee (as defined in Paragraph 7.1) and
Royalty (as defined in Paragraph 8.1). 
 1.12 “End User” means a person or entity that has received a Licensed Service, a copy of a
Licensed Product, or remote use of a Licensed Product or Licensed Methods (including in a software-as-a-service capacity), for
internal use pursuant to an End User License Agreement. For purposes of this definition and the definition of “End User License Agreement”, use of the Licensed Products or Licensed Services by the students or patients, as applicable, of an
End User that is an educational institution or health care provider, on computers owned or controlled by such End User (or accessed remotely by such students or patients on servers controlled by the End User or by the Licensee or Sublicensee who
granted the End User the applicable End User License Agreement) shall be deemed an “internal use”. 
 1.13 “End User License
Agreement” means a non-exclusive sublicense granted to an End User (whether by Licensee, a Distributor, or other Sublicensee) to use a Licensed Service or one or more copies of Licensed Product for
internal use. An End User License Agreement may provide for an Escrow Arrangement and may allow the End User to modify the Product upon an escrow release solely to support and maintain such End User’s use of the Product in accordance with the
terms of the End User License Agreement. 
 1.14 “Escrow Arrangement” means the placing of the source code of a Licensed Product in an
escrow with an escrow agent by the Licensee or by a Sublicensee or Distributor (a “Depositor”) to be released to one or more End Users or Distributors who are beneficiaries of the escrow upon the failure of the Depositor to provide a
certain level of maintenance and support for the 

  
 5 

 
Licensed Product or due to the dissolution or bankruptcy of the Depositor. An Escrow Arrangement includes the grant of a non-exclusive license to the
beneficiaries of the escrow to modify the source code to the Licensed Product upon an escrow release solely for purposes of supporting their licensed use of the Licensed Product. 

1.15 “FDA Approved” and “FDA Approval” means the clearance or approval by the United States Food and Drug Administration to
market, use and sell a product or service for its intended use, including a denovo 510(k) or 510(k) clearance or pre-market approval. 

1.16 “Field of Use” means all uses. 
 1.17
“IP Rights” means Copyright Rights, Property Rights and Patent Rights. 
 1.18 “Joint Venture” means any separate entity
established pursuant to an agreement between a third party and the Licensee and/or Sublicensee to constitute a vehicle for a joint venture, in which the separate entity manufactures, uses, purchases, Sells or acquires Licensed Products or Licensed
Services from the Licensee or Sublicensee. 
 1.19 “Licensed Method” means any process, art or method the use or practice of which, but for
the license granted in this Agreement, (i) would infringe, or contribute to, or induce the infringement of, any Patent Rights in any country were they issued at the time of the infringing activity in that country, or (ii) the subject of,
is covered by, or uses the Copyright Rights, or Property Rights. 
 1.20 “Licensed Product” means any Product, including, without
limitation, a Product for use or used in practicing a Licensed Method and any Product made by practicing a Licensed Method, that is made, used, imported, distributed, performed, displayed, offered for Sale, or Sold by Licensee its Sublicensees, or
Affiliates, that (i) in the absence of the license granted in this Agreement, would infringe, or contribute to, or induce the infringement of, any Patent Rights in any country were they issued at the time of the infringing activity in that
country, (ii) the subject of, is covered by, uses, or is developed or derived from Copyright Rights or Property Rights 
 1.21 “Licensed
Service” means any service provided by Licensee or any Sublicensee to a third party for consideration (whether in cash or any other form), when such service (i) involves the use of a Licensed Product; (ii) involves the practice of
a Licensed Method; or (iii) involves the use of Property Rights, Software, or Derivative Works. For clarity, displaying an advertisement for a third party in connection with a Licensed Product is considered to be a Licensed Service. 

  
 6 

 1.22 “Modifications” means any new materials including but not limited to modules,
software, code or programs created by the Licensee or any Sublicensee which would be a Derivative Work or which contain or incorporate the Property Rights or Software. 

1.23 “Net Price” means (a) the actual amount Licensee or Sublicensee receives from a Distributor, whether in cash or other
consideration, from (i) the Sale of a Licensed Product or Licensed Service, (ii) from any in-app purchase, (iii) from any in-app advertisements, or
(iv) any other revenues attributable to Licensed Product or Licensed Service or (b) with respect to Sales by Licensee (not through a Distributor), the gross invoice price charged and the value of any other consideration owed to the
Licensee (but not including Attributed Income received from a Sublicensee) for a Licensed Product or Licensed Service, less the following items, but only to the extent that they actually pertain to the disposition of such Licensed Product or
Licensed Service, are included in the gross invoice price charged or other consideration owed, and are identified separately on a bill or invoice: 

1.23.1 Allowances actually granted to customers for rejections, returns and prompt payment and volume discounts; 

1.23.2 Freight, transport packing and insurance charges associated with transportation; 

1.23.3 Taxes, including value added tax, tariffs or import/export duties based on Sales when included in the gross invoice price, but excluding
taxes assessed on income derived from Sales and excluding any taxes which Licensee collects but is not ultimately required to pay to a taxing authority. 

1.23.4 Rebates and discounts paid or credited pursuant to applicable law. 

1.24 “Net Sale” means, except in the instances described below in this Paragraph 1.23, for any Licensed Product or Licensed Service Sold by
Licensee or a Distributor, the Net Price for such Sale. 
 1.24.1 In those instances where Licensed Product or Licensed Service is not Sold,
but is otherwise exploited (other than a reasonable number of Licensed Products or Licensed Services provided for demonstration or evaluation purposes intended to result in a Sale), the Net Sales for such Licensed Product or Licensed Service shall
be the Net Price of products or services of the same or similar kind and quality, Sold in similar quantities, currently being offered for Sale by the Licensee and/or any Sublicensee. Where such products or services are not currently being offered
for Sale by the Licensee, and/or any Sublicensee, the Net Sales 

  
 7 

 
for Licensed Product or Licensed Service otherwise exploited, for the purpose of computing royalties, shall be the average Net Price at which products or services of the same or similar kind and
quality, Sold in similar quantities, are then currently being offered for Sale by other manufacturers. Where such products or services are not currently Sold or offered for Sale by the Licensee, and /or any Sublicensee, or others, then the Net Sales
shall be the Licensee’s, and/or any Sublicensee’s cost of manufacture of Licensed Product or the cost of conducting the service, determined according to Generally Accepted Accounting Principles (“GAAP”), plus [***] percent
([***]%). For purposes of clarity, Net Sales will not include Attributed Income. 
 1.24.2 Net Sales to or of Distributors shall be
calculated as the total proceeds attributable to the Licensed Product or Licensed Service, including without limitation milestone payments, royalty, and non-royalty income, whether consisting of cash or other
forms of consideration, received by Licensee or Sublicensee from any Distributor after the applicable deductions allowed in 1.22.1 through 1.23.6 are applied. 

1.24.3 Net Sales of a Combination Product shall be determined, on a
country-by-country basis and product-by-product basis, by multiplying the Net Sales of
such Combination Product (which shall be determined by applying the provisions set forth above in this definition of Net Sales to such Combination Product as if such Combination Product were the Licensed Product or as applicable, Licensed Service)
by: [***] 
 1.25 “New Developments” means inventions, or claims to inventions, which constitute advancements, developments or
improvements, whether or not patentable and whether or not the subject of any patent application, which are not sufficiently supported by the specification of a previously-filed patent or patent application within the Patent Rights to be entitled to
the priority date of the previously-filed patent or patent application. 
 1.26 “New Product” means a new Licensed Product or Licensed
Service developed to address a specific disease or condition that is not addressed by a previous Licensed Product or Licensed Service and that is not a Subsequent Version (as defined in Section 7.1.4) of any existing Licensed Product or
Licensed Service and that is identified, (via marketing or other method) by the Licensee or Sublicensee, as applicable, as a separate and distinct new product and not as a replacement, update, or upgrade to an existing product. 

  
 8 

 1.27 “New Securities” means, collectively, equity securities of the Licensee, whether or
not currently authorized, as well as rights, options, or warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible or exchangeable into or exercisable for such equity securities. 

1.28 “Patent Prosecution Costs” is defined in Paragraph 23.4. 

1.29 “Patent Rights” means the Valid Claims of, to the extent owned or controlled by The Regents, represented by or issuing from the
following patent applications: 
  

					
	 UC Case Number
	  	 Application Number
	  	 Filing Date

	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]
	[***]	  	[***]	  	[***]

 Patent Rights shall further include the Valid Claims of, to the extent owned or controlled by The Regents, the corresponding
foreign patents and patent applications (requested under Paragraph 23 herein) and any reissues, extensions, substitutions, continuations, divisions, and continuation- in-part applications (but only those Valid
Claims in the continuation-in-part applications that are entirely supported in the specification and entitled to the priority date of the parent application). This
definition of Patent Rights excludes any rights in and to New Developments. 
 1.30 “Product” means any software, app, training, kit,
article of manufacture, composition of matter, material, compound, component or product. 
 1.31 “Property Rights” means The Regents’
personal proprietary rights in existence as of the Effective Date in (i) any concepts, materials or data related to enhancing cognition by training distraction and or interruption, or suppression deficits, or expectation deficits developed by
members of the Gazzaley lab at UCSF which at the time provided to Licensee were confidential and non-publicly-available (“Know-how”); and (ii) the
Software. Notwithstanding anything to the contrary in the foregoing, any concept, material, idea or work falling within the definition of Copyright Rights or Patent Rights shall not be considered a Property Right for the purpose of this Agreement,
but shall instead be considered a Copyright Right or Patent Right, as applicable. 

  
 9 

 1.32 “Related Party” means a corporation, firm or other entity with which, or individual
with whom, the Licensee, and/or any Sublicensee (or any of its respective stockholders, subsidiaries or Affiliates) have any agreement, understanding or arrangement (for example, but not by way of limitation, an option to purchase stock or other
equity interest, or an arrangement involving a division of revenue, profits, discounts, rebates or allowances) unrelated to the Sale or exploitation of the Licensed Products or Licensed Services without which such other agreement, understanding or
arrangement, the amounts, if any, charged by the Licensee, or any Sublicensee to such entity or individual for the Licensed Product or Licensed Service, would be higher than the Net Price actually received, or if such agreement, understanding or
arrangement results in the Licensee, or any Sublicensee or extending to such entity or individual lower prices for such Licensed Product or Licensed Service than those charged to others without such agreement, understanding or arrangement buying
similar products or services in similar quantities. 
 1.33 “Sale” means the act of selling, leasing or otherwise transferring, providing,
or furnishing for use for any consideration. Correspondingly, “Sell” means to make or cause to be made a Sale and “Sold” means to have made or caused to be made a Sale. 

1.34 “Service Income” means Net Sales with respect to Licensed Services. Service Income shall not include Attributed Income and amounts
received by the Licensee or any Affiliate, Joint Venture, or Sublicensee to the extent such amounts are reasonably and fairly attributable to Licensed Services performed on an full time equivalent basis at or below commercially reasonable and
standard full time equivalent rates. 
 1.35 “Service Provider” means any person or entity that has entered into a Service Provider License
Agreement with Licensee or a Sublicensee. 
 1.36 “Service Provider License Agreement” means, with respect to Licensee or a Sublicensee, an
agreement whereby a Service Provider such as a third party contractor or Affiliate (a) will provide Licensee or Sublicensee, as applicable, with services related to the development, hosting, support, or maintenance of a Licensed Product or
Licensed Service solely for Licensee’s or Sublicensee’s benefit or as a subcontractor of Licensee or Sublicensee for purposes of fulfilling Licensee’s or Sublicensee’s obligations to an End Users and (b) needs access to or
use of a Licensed Product or Licensed Service for such purpose; provided, however, that Service Provider License Agreements expressly exclude any arrangement under which the Service Provider conducts any Sales or uses a Licensed Product, Licensed
Method or Licensed Service for any purpose other than Licensee’s or Sublicensee’s benefit (or to fulfill Licensee’s or Sublicensee’s obligations to End Users acting as Licensee’s or Sublicensee’s subcontractor). For
purposes of illustration, the following are examples of Service Provider License Agreements: (a) 

  
 10 

 
a software development agreement between Licensee and a Service Provider who is an independent contractor under which such independent contractor makes modifications to a Licensed Product or
Licensed Service as a “work made for hire” for Licensee as such phrase is defined in 17 U.S.C. §101, or (ii) is immediately and irrevocably assigned to Licensee upon its creation (b) a call center agreement under which a
Service Provider who is a contractor agrees to provide phone support to End Users with respect to their use of a Licensed Product or Licensed Service, (c) agreements with Service Providers who are third party data centers or cloud providers who
store copies of Licensee’s data and software solely for Licensee’s benefit, and (d) with respect to an Escrow Arrangement, an escrow agreement with a Service Provider who is an escrow agent. 

1.37 “Software” means the “Neuroracer” software application, or portion thereof, in which The Regents has Copyright Rights which
was originally provided to Licensee prior to the Effective Date of this Agreement by members of the Gazzaley Lab at UCSF. 
 1.38
“Sublicensee” means any person or entity (including any Affiliate, Distributor, End-User, Service Provider or Joint Venture) to which any of the license rights granted to the Licensee
hereunder are sublicensed. 
 1.39 “Sublicense Fee” is defined in Paragraph 7.1. 

1.40 “Valid Claim” means a claim of an issued patent or patent application in any country that (i) has not expired; (ii) has not
been disclaimed; (iii) has not been cancelled or superseded, or if cancelled or superseded, has been reinstated; (iv) has not been revoked, held invalid, or otherwise declared unenforceable or not allowable by a tribunal or patent
authority of competent jurisdiction over such claim in such country from which no further appeal has been taken; and (v) with respect to a patent application, has been pending for no more than [***] ([***]) years from application filing date
(without considering any provisional application to be the application for determining the filing date for this agreement) and is being diligently prosecuted. For purposes of this definition, claims in a continuation or divisional application shall
be deemed to be pending from the date of the first filed non-provisional application in a chain in the respective country. 

  
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 2. GRANT 
 2.1
Subject to the limitations and other terms and conditions set forth in this Agreement including the license granted to the United States Government set forth in the Background and in Paragraph 2.3.1, The Regents grants to the Licensee a license
under The Regents’ rights in and to the IP Rights to make, use, Sell, offer for Sale and import (and under Copyright Rights, to reproduce, prepare derivative works, distribute, perform, and display) Licensed Products and Licensed Services and
to practice Licensed Methods, in the United States and throughout the world except in other countries where The Regents may not lawfully grant such licenses, only in the Field of Use. 

2.2 Except as otherwise provided for in this Agreement, the license granted under Patent Rights, and Copyright Rights in Paragraph 2.1 is exclusive. Except as
otherwise provided for in this Agreement, the license granted under Property Rights in Paragraph 2.1 is non-exclusive; 

2.3 The license granted in Paragraphs 2.1 and 2.2 is subject to the following: 

2.3.1 The obligations to the United States Government under 35 U.S.C. §§ 200-212 and all
applicable governmental implementing regulations, as amended from time to time, including the obligation to report on the utilization of the Invention as set forth in 37 CFR. § 401.14(h), and all applicable provisions of any license to the
United States Government executed by The Regents after the Effective Date under 37 CFR. § 401.14(h), and 
 2.3.2 the National
Institutes of Health “Principles and Guidelines for Recipients of NIH Research Grants and Contracts on Obtaining and Disseminating Biomedical Research Resources,” 64 F.R. 72090 (Dec. 23, 1999), as amended from time to time. 

2.4 The license granted in Paragraphs 2.1 and 2.2 is limited to methods and products that are within the Field of Use. For other methods and products, the
Licensee has no license under this Agreement. 
 2.5 Title in and to the Software and any rights, including any and all intellectual property rights,
relating thereto is not transferred to the Licensee under this Agreement. Ownership of software developed by Licensee will be determined in accordance with U.S. copyright law, except that The Regents retains Copyright Rights in any Software
contained in such software. Licensee will own any Modifications, except that The Regents retains ownership of the Copyright Rights and Property Rights in the underlying Software (i.e., therefore, a Derivative Work that contains Modifications may
only be copied, modified, or distributed pursuant to a valid license under both The Regents’ Copyright Rights and Property Rights in the underlying Software and Licensee’s copyright in the Modifications). 

  
 12 

 2.6 The Regents reserves and retains the right (and the rights granted to the Licensee in this Agreement
shall be limited accordingly) to make, use and practice the Invention, the Property Rights, and any technology relating to any of the foregoing not solely owned by the Licensee and to make and use any Products and to practice any process that is the
subject of the Copyright Rights, Property Rights or the Patent Rights (and to grant any of the foregoing rights to other educational and non-profit institutions) for educational and research purposes only,
including without limitation, any sponsored research performed for or on behalf of commercial entities and including publication and other communication of any research results. For the avoidance of doubt, to the extent the Invention, Software and
any materials made from the Property Rights or Software and any technology relating to any of the foregoing not solely owned by the Licensee are not the subject of the exclusive license under the Patent Rights or Copyright Rights granted to the
Licensee hereunder, The Regents shall be free to make, use, Sell, offer to Sell, import, practice and otherwise commercialize and exploit (including to transfer, license to, or have exercised by, third parties) for any purpose whatsoever and in its
sole discretion, such Invention, Property Rights or Software and any materials made from the Property Rights or Software, technology and any Products or processes that are the subject of any of the foregoing (in each case solely to the extent such
manufacture, use, Sale, import, practice, or exploitation would not require a valid license under, or title to, the Patents Rights, Property Rights or Copyright Rights licensed exclusively to Licensee hereunder to avoid infringing such Patent Rights
or Copyright Rights or violating the exclusive license to such Property Rights). 
 2.7 Because the Invention was made under funding provided by the United
States Government, Licensed Products, the Invention, and any products embodying the Invention sold in the United States will be substantially manufactured in the United States. 

3. SUBLICENSES 
 3.1 The Regents also grants to the Licensee the
right to sublicense to third parties (including to Affiliates and Joint Ventures) the rights granted to the Licensee hereunder, with no right to further sublicense except as provided below, as long as the Licensee has current exclusive rights
thereto under this Agreement (or, with respect to End User License Agreements, Service 

  
 13 

 
Provider License Agreements, and Distributor License Agreements, as long as the Licensee has exclusive or non-exclusive rights under this Agreement). Each
Sublicensee must be subject to a written sublicense agreement, which will contain terms that are consistent with and do not conflict with the terms of this Agreement, provided that End User License Agreements may in the form of a click-through or
online agreement, including but not limited to in the manner used by Application Stores. In addition, all such sublicense agreements, except for End User License Agreements, Distributor License Agreements, and Service Provider License Agreements,
shall include all of the rights of, and will require the performance of all the obligations due to, The Regents (and, if applicable, the United States Government and other sponsors), other than those rights and obligations specified in Article 5
(License Issue Fee), Article 6 (License Maintenance Fee), Paragraph 8 (Royalty) and Paragraphs 23.4 and 23.8 (reimbursement of Patent Prosecution Costs). For avoidance of doubt, the provisions set forth in Paragraph 26.1 (Indemnification) shall
apply to End-User License Agreements, Distributor License Agreements, and Service Provider License Agreements. For the avoidance of doubt, the Licensee shall have no right to permit any Sublicensee and no
Sublicensee shall have any right to further sublicense any of the rights granted to the Licensee hereunder, except that (a) each Sublicensee (except Affiliates and Joint Ventures) may sublicense to (i) its affiliates as Affiliate is
defined in Paragraph 1.1 with Sublicensee substituted for licensee in the definition, to the extent needed for the development and commercialization of Licensed Products or Licensed Services in accordance with this Agreement and (ii) Service
Providers and independent contractors pursuant to a Service Provider License Agreement to the extent necessary for such Service Provider to perform services solely for the benefit of such Sublicensee and (b) Distributors may grant End Users a
Sublicense to a Licensed Product or Licensed Service pursuant to an End User License Agreement. Also, for the avoidance of doubt, Affiliates and Joint Ventures shall have no licenses under this Agreement unless such Affiliates and Joint Ventures are
granted a sublicense. For the purposes of this Agreement, the operations of all Sublicensees shall be deemed to be the operations of the Licensee, for which the Licensee shall be responsible, except that Licensee shall not be responsible for an End
User’s use of a Licensed Product or Licensed Service in breach of the terms of the applicable End User License Agreement provided Licensee uses all remedies available under the law to enforce the terms of such End User License Agreement. 

  
 14 

 3.2 Except with respect to End User License Agreements, Distributor License Agreements, and Service Provider
License Agreements, the Licensee will notify The Regents of each sublicense granted hereunder and will provide The Regents with a complete copy of each sublicense (along with a summary of the material terms of each such sublicense) and each
amendment to such sublicense within [***] ([***]) days of issuance of such sublicense or such amendment. The Licensee will be responsible for paying to The Regents all Sublicense Fees owed due to Sublicensee payments (and the cash equivalent of any
consideration due) and activities. The Licensee will require Sublicensees to provide it with all copies of all progress reports and royalty reports that Licensee needs to meet its reporting obligations to The Regents. 

3.3 If Licensee licenses patent rights assigned to or otherwise acquired by it (“Licensee’s Patent Rights”), and it believes, in good faith,
that the recipient of such license will infringe Patent Rights in practicing the Licensee’s Patent Rights, then the Licensee will not separately grant a license to such recipient under Licensee’s Patent Rights without concurrently granting
a sublicense under Patent Rights on the terms required under this Agreement. 
 3.4 Upon any expiration or termination of this Agreement for any reason, all
sublicenses, except for End User License Agreements, shall automatically terminate, unless The Regents, at its sole discretion, agrees in writing to an assignment to The Regents of any sublicense. In the event of termination of this Agreement and if
The Regents accepts assignment of any sublicense, The Regents will not be bound by any grant of rights broader than or will not be required to perform any obligation other than those rights and obligations contained in this Agreement. Moreover, The
Regents will have the sole right to modify each such assigned sublicense to include all of the rights of The Regents (and, if applicable, the United States Government and other sponsors) that are contained in this Agreement, including the payment of
Earned Fees and Royalties directly to The Regents by the Sublicensee as if it were the Licensee at a rate that is no lower than the rate set forth in Article 8 (Earned Fees and Royalties) in accordance with Article 4 (Payment Terms). For purposes of
clarity, End User License Agreements shall survive termination of this Agreement in accordance with their terms, provided however that the Licensee shall remain obligated to enforce such End User License Agreement or cause them to be enforced. 

  
 15 

 4. PAYMENT TERMS 

4.1 Royalties will accrue in each country for the duration set forth in Paragraph 8.3 and will be payable to The Regents quarterly in accordance with
Section 4.2 based on the Net Sales which have accrued to Licensee and any Distributers during the applicable quarter. Sublicense Fees with respect to any Attributed Income shall be paid to The Regents quarterly in accordance with
Section 4.2 based on the Attributed Income received by Licensee during the applicable quarter. 4.2 The Licensee will pay to The Regents all Earned Fees and Royalties and other consideration payable to The Regents quarterly on or before
February 28 (for the calendar quarter ending December 31), May 31 (for the calendar quarter ending March 31), August 31 (for the calendar quarter ending June 30) and November 30 (for the calendar quarter ending September 30) of
each calendar year. Each payment will be for Earned Fees and Royalties and other consideration which has accrued within the Licensee’s most recently completed calendar quarter. 

4.2 All consideration due The Regents will be payable and will be made in United States dollars by check payable to “The Regents of the University of
California” or by wire transfer to an account designated by The Regents. The Licensee is responsible for all bank or other transfer charges. When there are Net Sales for Licensed Products or Licensed Services Sold for monies other than United
States dollars, and when the Attributed Income is paid in a currency other than United States dollars, then the Earned Fees and Royalties and other consideration will first be determined in the foreign currency of the country in which such amounts
were paid and then converted into equivalent United States dollars. The exchange rate will be the average exchange rate quoted in the The Wall Street Journal during the last [***] ([***]) days of the reporting period. 4.4 Sublicense Fees on
Attributed Income and Royalties on Net Sales of Licensed Products or Licensed Services and other consideration accrued in, any country outside the United States may not be reduced by any taxes, fees or other charges imposed by the government of such
country, except those taxes, fees and charges allowed under the provisions of Paragraph 1.24 (Net Sales). 4.5 Notwithstanding the provisions of Article 30 (Force Majeure) if at any time legal restrictions prevent the prompt remittance of Earned Fees
and Royalties or other consideration owed to The Regents by the Licensee with respect to any country where a sublicense is issued or a Licensed Product or Licensed Service is Sold or otherwise exploited, then the Licensee shall convert the amount
owed to The Regents into United States dollars and will pay The Regents directly from another source of funds in order to remit the entire amount owed to The Regents. 

  
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 4.3 In the event that any patent or claim thereof included within the Patent Rights is held invalid in a
final decision by a court of competent jurisdiction and last resort and from which no appeal has or can be taken, then all obligation to pay Earned Fees and Royalties based on that patent or claim or any claim patentably indistinct therefrom will
cease as of the date of final decision. The Licensee will not, however, be relieved from paying any Earned Fees and Royalties that accrued before such final decision and the Licensee shall be obligated to pay the full amount of Earned Fees and
Royalties due hereunder to the extent that The Regents licenses one or more Valid Claims within the Patent Rights to the Licensee with respect to Licensed Products or Licensed Services or to the extent that Licensed Products or Licensed Services are
based on Copyright Rights or Property Rights. 
 4.4 In the event that a claim of a patent application in Patent Rights has been pending for more than [***]
([***]) years and as set forth in Paragraph 1.37 is no longer considered a Valid Claim, the obligation to pay Earned Fees and Royalties based on that patent claim will cease as of the date the claim is no longer considered a Valid Claim
(“Invalidation Date”). However, if such claim subsequently issues, it will again be considered a Valid Claim and Licensee will be obligated to pay Earned Fees and Royalties and interest based on such claim from the Invalidation Date
forward. 
 4.5 No Earned Fees and Royalties will be collected or paid hereunder to The Regents on Licensed Products or Licensed Services Sold to, or
otherwise exploited for, the account of the United States Government as provided for in the license to the United States Government. The Licensee and its Sublicensees will reduce the amount charged for Licensed Products or Licensed Services Sold to,
or otherwise exploited by, the United States Government by an amount equal to the Earned Fee and Royalty for such Licensed Products or Licensed Services otherwise due The Regents. Such reduction in Earned Fees and Royalties will be in addition to
any other reductions in price required by the United States Government. Notwithstanding the foregoing, Licensee shall not be obligated to require Application Stores to identify United Sates Government Sales and apply a different price to such Sales.

  
 17 

 4.6 In the event that royalties, fees, reimbursements for Patent Prosecution Costs or other monies owed to
The Regents are not received by The Regents when due, the Licensee will pay to The Regents interest at a rate of [***] percent ([***]%) simple interest [***]. Such interest will be calculated from the date payment was due until actually received by
The Regents. Such accrual of interest will be in addition to and not in lieu of, enforcement of any other rights of The Regents due to such late payment. 

5. LICENSE ISSUE FEE 
 The Licensee will pay to The Regents a
license issue fee of ten thousand dollars ($10,000) within [***] ([***]) days of the Effective Date. This fee is inclusive of a [***] dollar credit as per the terms of the Option Agreement. This fee is
non-refundable, non- cancelable and is not an advance or otherwise creditable against any royalties or other payments required to be paid under the terms of this
Agreement. 
 6. LICENSE MAINTENANCE FEE 
 The Licensee will
also pay to The Regents a license maintenance fee of five thousand dollars ($5,000) beginning on the [***]-year anniversary of the Effective Date and continuing annually on each anniversary of the Effective Date. The license maintenance fee is not
due on any anniversary of the Effective Date if on that date, the Licensee is Selling or otherwise exploiting Licensed Products or Licensed Services and is paying an Earned Fee and Royalty to The Regents on the Net Sales of such Licensed Product or
Licensed Services. The license maintenance fee is non-refundable and is not an advance or otherwise creditable against any royalties or other payments required to be paid under the terms of this Agreement.

 7. PAYMENTS ON SUBLICENSES 
 7.1 The Licensee will pay to
The Regents the following non-refundable and non-creditable sublicense fees (“Sublicense Fees”): 

7.1.1 [***] percent ([***]%) of all Attributed Income received from a Sublicensee pursuant to a sublicense agreement entered into with such
Sublicensee prior to Licensee’s development of a prototype specific to the Licensed Product to be made, used, Sold or otherwise exploited under the sublicense; 

  
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 7.1.2 [***] percent ([***]%) of all Attributed Income received from a Sublicensee pursuant
to a sublicense agreement entered into with such Sublicensee (a) subsequent to Licensee’s development of a prototype specific to the Licensed Product to be made, used, Sold, or otherwise exploited under the sublicense and (b) prior to
Licensee’s development of a prototype specific to the Licensed Product to be made, used, Sold, or otherwise exploited under the sublicense which either (i) has been tested in an IRB approved study (or a study approved by any other
regulatory body) of at least [***] ([***]) subjects from a well-defined disease population enrolled in the study, such disease population to be the target population for the Licensed Product made, used, Sold or otherwise exploited under the
sublicense, or (ii) if direct to consumer, is a Beta-Version of the specific Licensed Product, to be made, used, Sold or otherwise exploited under the sublicense; and 

7.1.3 [***] percent ([***]%) of all Attributed Income received from a Sublicensee pursuant to a sublicense agreement entered into with such
Sublicensee subsequent to Licensee’s development of a prototype specific to the Licensed Product to be made, used, Sold or otherwise exploited under the sublicense which prototype either (a) has been tested in an IRB approved study (or a
study approved by any other regulatory body) of at least [***] ([***]) subjects from a well-defined disease population enrolled in the study, such disease population to be the target population for the Licensed Product made, used, Sold, or otherwise
exploited under the sublicense or (b) if direct to consumer, is a Beta-Version of the specific Licensed Product, to be made, used, Sold or otherwise exploited under the sublicense. 

7.1.4 For purposes of clarity, if a prototype specific to a Licensed Product covered by a sublicense is developed prior to entering into such
sublicense agreement, then the fact that such sublicense agreement also covers (and that the Sublicensee Sells under such sublicense agreement) subsequent releases, revisions, updates, and enhancements of such Licensed Product that (a) are
specific to the same disease or condition that the prototype was originally designed for or (b) are not New Products (collectively, “Subsequent Versions”) that occur after the development of a prototype of the original version of the
Licensed Product and after the date the sublicense agreement is entered, shall not result in Licensee paying a higher Sublicense Fee for the Sale of such Subsequent Versions under the sublicense agreement due to such Subsequent Versions having been
developed after the entering the sublicense agreement. For example, a Sublicensee may develop Subsequent Versions of a Licensed Product to measure or improve executive function. 

  
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 7.1.5 Notwithstanding the forgoing, and for the avoidance of doubt, The Regents hereby
acknowledge and agree that any sublicense of the game that Licensee is developing as of the Effective Date shall not be subject to the [***] percent ([***]%) Sublicense Fee tier set forth in Section 7.1.1 hereof. 

8. ROYALTIES 
 8.1 The Licensee will also pay to The Regents a
Royalty of (i) [***] percent ([***]%) of the Net Sales derived from each non-Clinically-Tested Licensed Product, Licensed Method or Licensed Service by the Licensee or any Distributor and [***] percent
([***]%) of the Net Sales of each Clinically-Tested Licensed Product, Licensed Method or Licensed Service by the Licensee or any Distributor. For purposes of clarity, if a Licensed Product is Clinically-Tested, then Sales of the use of the
corresponding Licensed Method and Licensed Services shall be deemed Clinically- Tested too. 
 8.2 In the event it becomes necessary for Licensee to obtain
a license to patent rights owned by an unaffiliated third party (defined as a third party which is not an Affiliate, Joint Venture, or further Sublicensee of Licensee or of such Sublicensee) in order to make, use, copy, modify, or Sell, a particular
Licensed Product, Licensed Method or Licensed Service and the royalty due to the unaffiliated third party(ies) exceeds [***] percent ([***]%) of Net Sales of such Licensed Product or Licensed Service in a calendar quarter,, then Licensee, The
Regents, and such unaffiliated third party(ies) will evenly bear the amount of such Third Party Royalty(ies) that exceeds [***] percent ([***]%) of Net Sales of such Licensed Product or Licensed Service, provided that the Earned Fee and Royalty due
to The Regents under Paragraph 8.1 shall not be reduced to less than [***] percent ([***]%) in the calendar quarter. 
 8.3 Earned Fees and Royalties on
each Licensed Product or Licensed Service under Section 8.1 shall commence in each country as of the date of the first commercial Sale of any Licensed Product or Licensed Service in such country and shall terminate in such country on a country-by-country basis on the later of (i) expiration or abandonment of all issued patents and filed patent applications within the Patent Rights or (ii) on the
[***] ([***]) anniversary of the first commercial Sale of each Licensed Product or Licensed Service in such country. 

  
 20 

 9. MILESTONE PAYMENTS 

9.1 With respect to each Licensed Product, the Licensee will pay to The Regents the following non-refundable, non-creditable amounts: 
 9.1.1 [***] dollars ($[***]) upon the first commercial Sale of the first non-FDA Approved Licensed Product; 
 9.1.2 [***] dollars ($[***]) upon the first commercial Sale of each
additional non-FDA Approved Licensed Product that is a New Product; 
 9.1.3 [***] dollars ($[***])
upon the first commercial Sale of an FDA Approved Licensed Product; 
 9.1.4 [***] dollars ($[***]) upon the first commercial Sale of each
additional FDA Approved Licensed Product (which is a New Product) in each distinct disease-based market segment; 
 9.1.5 [***] dollars
($[***]) upon assignment of 1st CPT reimbursement code for a Licensed Product or Licensed Service; 
 9.1.6 [***] dollars ($[***]) upon
issuance of the first patent under the Patent Rights; 
 9.1.7 [***] dollars ($[***]) upon cumulative Net Sales in excess of [***]; 

9.1.8 [***] dollars ($[***]) upon cumulative Net Sales in excess of [***]; 

9.1.9 [***] dollars ($[***]) upon cumulative Net Sales in excess of [***]; 

9.1.10 [***] dollars ($[***]) upon Net Sales in a calendar year in excess of [***]. 

9.2 Each milestone payment will be payable when the applicable milestone event has been achieved regardless whether it was Licensee who achieved the milestone
or an Affiliate, Joint Venture, or Sublicensee, except as provided in Section 9.3 below. For purposes of Paragraphs 9.1.7 through 9.1.10, Net Sales shall include all amounts received by Licensee from its Sublicensees for Sales made by such
Sublicensees, regardless whether such payments would not otherwise be deemed “Net Sales” due to being Attributed Income. 
 9.3 If a Sublicensee
should trigger any of the milestones set forth in Paragraphs 10.1.1—10.1.5, then the milestone payment for such achieved milestone shall equal the difference between (i) the milestone payment specified in Section 9.1 above, minus
(ii) the Sublicense Fees paid or due to The Regents based upon Licensee’s receipt of achievement-based milestones from such Sublicensee (i.e. specifically excluding Sublicense Fees based upon an upfront fee or royalties on net sales of
such Sublicensee) for the [*] period prior to the date on which the milestone event occurred. If such Sublicense Fees are greater than or equal to the milestone payment, then no payment shall be due to The Regents due to achievement of such
milestone (other than payment of the Sublicense Fee in accordance with Section 7). 

  
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 9.4 All milestone payments are due to The Regents within [***] ([***]) days of the occurrence of the
applicable milestone event. 
 10. INDEXED MILESTONES 
 10.1
Within [***] ([***]) days of an “Exit”, meaning either: 
 (i) closing of a public offering of the common stock pursuant to a
registration statement filed with the Securities and Exchange Commission; or 
 (ii) a Change of Control Transaction Licensee, shall make to
The Regents a cash payment according to the following scale: 
 10.1.2 [***] dollars ($[***]) if the Exit results in payments totaling
between [***] dollars ($[***] to $[***]) to shareholders; 
 10.1.3 [***] dollars ($[***]) if the Exit results in payments totaling between
[***] dollars ($[***] to $[***]) to shareholders; 
 10.1.4 [***] dollars ($[***]) if the Exit results in payments totaling between [***]
dollars ($[***] to $[***]) to shareholders; 
 10.1.5 two million, five hundred thousand dollars ($2,500,000) if the Exit results in payments
totaling more than [***] dollars $[***]) to shareholders; 
 10.2 The obligation of the Licensee to make this Indexed Milestone Payment shall be a one-time payment obligation and shall survive termination or expiration of this Agreement As used in this Agreement, a Change of Control Transaction means any consolidation, merger reorganization or other
transaction or series of transactions in which the greater that fifty percent (50%) of the voting power of Licensee is transferred to a third party However, a transaction involving a third party will not be considered a Change of Control Transaction
if such transaction or series of transactions does not provide liquidity to at least a majority of Licensee’s previous shareholders, either in the form of cash or stock that is freely tradable and listed on a national securities exchange. 

  
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 11. PREEMPTIVE RIGHTS 

11.1 Subject to the terms and conditions of this Subsection 11 and applicable securities laws, if the Licensee proposes to offer or sell any New Securities,
the Licensee shall offer such New Securities to The Regents. The Regents shall be entitled to apportion the right of first offer hereby granted to it in such proportions as it deems appropriate, among (i) itself and (ii) its Affiliates.

 11.2 The Licensee shall give written notice (the “Offer Notice”) to The Regents, stating (i) its bona fide intention to offer such
New Securities, (ii) the number of such New Securities to be offered, and (iii) the price and terms, if any, upon which it proposes to offer such New Securities. 11.3 By notification to the Licensee within [***] ([***]) days after the
Offer Notice is given, The Regents may elect to purchase or otherwise acquire, at the price and on the terms specified in the Offer Notice, up to that portion [***] percent ([***]%) of such New Securities. If Licensee does not enter into an
agreement for the sale of the New Securities within such period, or if such agreement is not consummated within thirty days of the execution thereof, the rights provided hereunder shall be deemed to be revived and such New Securities shall not be
offered unless first reoffered to The Regents in accordance with this Section. 
 11.3 The right of first offer in this Subsection 4.1 shall not be
applicable to (i) Exempted Securities (as defined in the Licensee’s Certificate of Incorporation); and (ii) shares of Licensee’s Common Stock issued in any initial public offering registered with a governmental entity. 

11.4 Notwithstanding any provision hereof to the contrary, in lieu of complying with the provisions of this Section 11.2, the Licensee may elect to give
notice to The Regents within [***] ([***]) days after the issuance of New Securities. Such notice shall describe the type, price, and terms of the New Securities. The Regents shall have [***] ([***]) days from the date notice is given to elect to
purchase up to [***] percent ([***]%) of such New Securities. The closing of such sale shall occur within [***] ([***]) days of the date notice is given to The Regents. 

11.5 The covenants set forth in Section 11 shall terminate and be of no further force or effect (i) immediately before the consummation of any
initial public offering of the Licensee’s Common Stock registered with a governmental entity, (ii) when the Licensee first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act of 1934,
(iii) upon a Deemed Liquidation Event, as such term is defined in the Licensee’s Certificate of Incorporation or (iv) the termination or expiration of this Agreement, whichever event occurs first. 

  
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 12. DUE DILIGENCE 

12.1 The Licensee, upon execution of this Agreement, will diligently proceed with the development, manufacture and Sale of Licensed Products and Licensed
Services and will earnestly and diligently market the same after execution of this Agreement and in quantities sufficient to meet the market demands therefor. 

12.2 The Licensee will obtain all necessary governmental approvals in each country where Licensed Products and Licensed Services are manufactured, used, Sold,
offered for Sale or imported. 
 12.3 The Licensee will: 

12.3.1 conduct pilot studies with human subjects in at least [***] distinct patient populations by [***]; 

12.3.2 have Licensed Product Clinically-Tested in at least [***] patient population by [***]; 

12.3.3 provide The Regents with a [***]-year clinical plan by [***]; and 

12.3.4 market or sell a Licensed Product or Licensed Service by [***]; and 

12.3.5 market or sell a regulatory-approved Licensed Product or Licensed Service within [***] ([***]) year of a regulatory approval by the
FDA or foreign equivalent.. 
 12.4 If the Licensee is unable to perform any of the above provisions, then The Regents has the right and option to either
terminate this Agreement or reduce the exclusive license granted to the Licensee to a nonexclusive license in accordance with Paragraph 12.7 below. This right, if exercised by The Regents, supersedes the rights granted in Article 2 (Grant). 

12.5 In addition to the obligations set forth above, the Licensee shall spend an aggregate of not less than [***] dollars ($[***]) for the research and
development of Licensed Products prior to the [***] ([***]) year anniversary of the Effective Date. 
 12.6 If the Licensee fails to comply with the
spending requirement set forth in Paragraph 12.5, then The Regents has the right and option to either terminate this Agreement or reduce the exclusive license granted to the Licensee to a nonexclusive license. This right, if exercised by The
Regents, supersedes the rights granted in Article 2 (Grant). 

  
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 12.7 To exercise either the right to terminate this Agreement or to reduce the exclusive license granted to
the Licensee to a non-exclusive license for lack of diligence required in this Article 10 (Due Diligence), The Regents will give the Licensee written notice of the deficiency. The Licensee thereafter has [***]
([***]) days to cure the deficiency. If The Regents has not received written evidence reasonably satisfactory to The Regents that the deficiency has been cured by the end of the [***] ([***])-day period, then
The Regents may, at its option, terminate this Agreement immediately without the obligation to provide [***] ([***]) days’ notice as set forth in Article 16 (Termination by The Regents) or reduce the exclusive license granted to the Licensee to
a nonexclusive license by giving written notice to the Licensee. 
 13. PROGRESS AND ROYALTY REPORTS 

13.1 Beginning on [***], and [***] thereafter, the Licensee will submit to The Regents a written progress report as described in Paragraph 13.2 below covering
the Licensee’s (and any Affiliates’, Joint Ventures’, Service Providers’ or Sublicensee’s) activities related to the development and testing of all Licensed Products and Licensed Services and related to the obtaining of the
governmental approvals necessary for marketing and the activities required and undertaken in order to meet the diligence requirements set forth in Article 10 (Due Diligence). Progress reports are required for each Licensed Product and Licensed
Service until the first Sale or other exploitation of that Licensed Product or Licensed Service occurs in the United States and shall be again required if Sales of such Licensed Product or Licensed Service are suspended or discontinued. 

13.2 Progress reports submitted under Paragraph 13.1 shall include, but are not limited to, a detailed summary of the following topics so that The Regents
will be able to determine the progress of the development of Licensed Products and Licensed Services and will also be able to determine whether or not the Licensee has met its diligence obligations set forth in Article 10 (Due Diligence) above: 

13.2.1 summary of work completed as of the submission date of the progress report; 

13.2.2 summary of work in progress as of the submission date of the progress report; 

13.2.3 current schedule of anticipated events and milestones, including those event and milestones specified in Article 10 (Due Diligence);

  
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 13.2.4 market plans for introduction of Licensed Products and Licensed Services including
the anticipated and actual market introduction dates of each Licensed Product or Licensed Service; 
 13.2.5 Joint Ventures’ and Service
Providers’ activities relating to the above items, if there are any Joint Ventures or Service Providers; 
 13.2.6 Sublicensees’
activities relating to the above items, if there are any Sublicensees; and 13.2.7 a summary of resources (dollar value) spent in the reporting period. 

13.3 If the Licensee fails to submit a timely progress report to The Regents, then The Regents will be entitled to terminate this Agreement if, following
written notice to the Licensee, Licensee fails to cure such breach within [***] ([***]) days. If either party terminates this Agreement before any Licensed Products or Licensed Services are Sold or before this Agreement’s expiration, then a
final progress report covering the period prior to termination must be submitted within [***] ([***]) days of termination or expiration. 
 13.4 The
Licensee has a continuing responsibility to keep The Regents informed of the business entity status (small business entity status or large business entity status as defined by the United States Patent and Trademark Office) of itself, any Affiliates,
Joint Ventures, or Sublicensees. The Licensee will notify The Regents of any change of its status or that of any Affiliate, Joint Venture, or Sublicensee within [***] ([***]) days of the change in status. 

13.5 The Licensee will report to The Regents the date of first Sale or other exploitation of a Licensed Product or Licensed Service in each country in its
first progress and royalty reports following such first Sale of a Licensed Product or Licensed Service. 
 13.6 Beginning with the earlier of (i) the
first Sale or other exploitation of a Licensed Product or Licensed Service or (ii) the first transaction that results in Sublicense Fees accruing to The Regents, the Licensee will make quarterly royalty and Sublicensee Fee reports to The
Regents on or before each February 28 (for the quarter ending December 31), May 31 (for the quarter ending March 31), August 31 (for the quarter ending June 30) and November 30 (for the quarter ending September 30) of each year.
Each royalty and Sublicensee Fee report will cover Licensee’s most recently completed calendar quarter and will, at a minimum, show: 

13.6.1 the Net Sales of Licensed Products or Licensed Services Sold or otherwise exploited (itemizing the applicable gross proceeds and any
deductions therefrom and specifying what portion of the Net Sales is Service Income) and any Attributed Income (itemizing the applicable gross proceeds and any deductions therefrom) due to the Licensee; 

  
 26 

 13.6.2 the identity of each Distributor by which Licensed Products or Licensed Services were
Sold or otherwise exploited; 
 13.6.3 the quantity of each type of Licensed Product and/or Licensed Service Sold or otherwise exploited;

 13.6.4 the country in which each Licensed Product and Licensed Service was made, used or Sold or otherwise exploited; 

13.6.5 the Royalties, in United States dollars, payable with respect to Net Sales; 

13.6.6 the Sublicense Fees, in United States dollars, payable with respect to Attributed Income; 

13.6.7 the method used to calculate the Earned Fee and Royalty, specifying all deductions taken and the dollar amount of each such deduction;

 13.6.8 the exchange rates used, if any; 

13.6.9 the amount of the cash and the amount of the cash equivalent of any non-cash consideration
including the method used to calculate the non-cash consideration; 
 13.6.10 for each Licensed
Product and each Licensed Service, the specific Patent Rights identified by UC Case Number, exercised by the Licensee or any Affiliate, Joint Venture, or Sublicensee, in the course of making, using, selling, offering for Sale or importing such
Licensed Product and/or using, selling or offering for Sale such Licensed Service; and the number and purpose of Licensed Products or Licensed Services provided for demonstration or evaluation purposes intended to result in a Sale 

13.6.11 any other information reasonably necessary to confirm Licensee’s calculation of its financial obligations hereunder. 

13.7 If no Sales of Licensed Products and Licensed Services have been made and no Licensed Products and Licensed Services have been otherwise exploited and no
Attributed Income is due to the Licensee during any reporting period, then a statement to this effect must be provided by the Licensee in the immediately subsequent royalty and Sublicense Fee report. 

  
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 14. BOOKS AND RECORDS 

14.1 The Licensee will keep accurate books and records showing all Licensed Product under development, manufactured, used, offered for Sale, imported, Sold and
or otherwise exploited; all Licensed Service Sold or otherwise provided; all Net Sales (including but not limited to Service Income) and all Attributed Income, and with respect to Earned Fees and Royalties and other amounts payable hereunder; and
all sublicenses granted under the terms of this Agreement, Such books and records will be preserved for at least [***] ([***]) years after the date of the payment to which they pertain and will be open to examination by representatives or agents of
The Regents during normal business hours to determine their accuracy and assess the Licensee’s compliance with the terms of this Agreement, provided that The Regents shall not perform such an examination more than [***] in any [***] month
period, and further provided that the representatives or agents performing such an examination shall enter into a confidentiality agreement with Licensee containing reasonable and standard confidentiality terms. 

14.2 The Regents shall pay the fees and expenses of such examination. If, however, an error in payments due to The Regents of more than [***] percent ([***]%)
of the total payments due for any year is discovered in any examination, then the Licensee shall bear the fees and expenses of such examination and shall remit such underpayment to The Regents within [***] ([***]) days of the examination results.

 15. LIFE OF THE AGREEMENT 
 15.1 Unless otherwise terminated
by operation of law, Paragraph 15.2, or by acts of the parties in accordance with the terms of this Agreement, this Agreement will remain in effect from the Effective Date until the later of (i) expiration or abandonment of the last of the
Patent Rights licensed hereunder or (ii) expiration of the Copyright Rights in all countries. 
 15.2 This Agreement will automatically terminate
without the obligation to provide [***] days’ notice as set forth in Article 16 (Termination By The Regents) upon the Licensee (a) voluntarily filing of a petition for relief under the United States Bankruptcy Code or (b) becoming
subject to any proceedings under any bankruptcy or insolvency law, whether domestic or foreign, which is not dismissed within [***] ([***]) days. 

  
 28 

 15.3 Any termination or expiration of this Agreement will not affect the rights and obligations set forth in
the following Articles: 
  

			
	 Article1

Paragraph4.9 Article 5

Article7

Paragraphs8.1 and 8.2

Article10

Article11

Article14

Article15

Article18
	  	 Definitions
 Late Payments

License Issue Fee
 Payments on Sublicenses

Royalties
 Indexed Milestone Payment

Preemptive Rights
 Books and Records

Life of the Agreement

Dispositionof Licensed Products and Licensed

Serviceson Hand Upon Termination or Expiration

	 Article19

Article20

Article21
	  	 Use of Names and Trademarks . Limited Warranty

Limitation of Liability

 Paragraphs 23.4 & 23.8 &23.5 Patent Prosecution and Maintenance and Past Patent Costs 

 

			
	 Article26
  

Article27
  

Article31
  

Article34
	  	 Indemnification
  

Notices
  

Governing Laws; Venue; Attorneys Fees
  

Confidentiality

 15.4 The termination or expiration of this Agreement will not relieve the Licensee of its obligation to pay any fees,
royalties or other payments owed to The Regents at the time of such termination or expiration and will not impair any accrued right of The Regents, including the right to receive Earned Fees and Royalties in accordance with Articles 7 (Payments on
Sublicenses), 8 (Royalties) and 18 (Disposition of Licensed Products and Licensed Services Upon Termination or Expiration). End User License Agreements shall survive termination of this Agreement in accordance with their terms. 

16. TERMINATION BY THE REGENTS 
 If the Licensee
fails to perform or violates any term of this Agreement, then The Regents may give written notice of such default (“Notice of Default”) to the Licensee. If the Licensee fails to repair such default within [***] ([***]) days after the
effective date of such notice, then The Regents will have the right to immediately terminate this Agreement and its licenses by providing a written notice of termination (“Notice of Termination”) to the Licensee. 

  
 29 

 17. TERMINATION BY LICENSEE 

The Licensee has the right at any time to terminate this Agreement by providing a Notice of Termination to The Regents. Moreover, the Licensee
will be entitled to terminate the rights under Patent Rights on a country-by-country basis by giving notice in writing to The Regents. Termination of this Agreement (but
not termination of any patents or patent applications under Patent Rights, which termination is subject to Paragraph 23.8) will be effective [***] ([***]) days from the effective date of such notice. 

18. DISPOSITION OF LICENSED PRODUCT AND LICENSED SERVICES UPON TERMINATION OR EXPIRATION 

18.1 On termination or expiration of this Agreement, Licensee shall within [***] ([***]) days stop offering Licensed Products and Licensed Services for Sale
and remove all Licensed Products and Licensed Services from all Distributors, or other vendors. If this Agreement is expired or terminated by either party, The Regents may require that Licensee destroy all copies of Software and Licensed Products
under Licensee’s control at the time of expiration or termination. Licensee shall comply with The Regents’ requirement and provide The Regents with written assurance of the destruction of the Software and Licensed Products within [***]
([***]) days of the effective date of termination or expiration. Notwithstanding the foregoing, Licensee may continue to use a reasonable number of copies of the Licensed Products following termination solely for purposes of fulfilling any ongoing
maintenance and support obligations to End Users. 
 18.2 Subject to Section 8.3 or Article 8, as applicable, if applicable IP Rights exist at the time
of any making, Sale, offer for Sale, or import of a Licensed Product or the time of any Sale, offer for Sale, or rendering of a Licensed Service, then Earned Fees and Royalties shall be paid at the times provided herein and royalty reports shall be
rendered in connection therewith, notwithstanding the absence of applicable Patent Rights with respect to such Licensed Product or Licensed Service at any later time (subject to Section 8.3 or Article 8, as applicable). Otherwise, no Earned
Fees and Royalties shall be paid on the Sales of such product or service. Any fees or other payments owed to The Regents at the time of expiration not based on the Sales of a Licensed Product or Licensed Service will be paid to The Regents at the
time such fee or other payment would have been due had this Agreement not expired. 

  
 30 

 19. USE OF NAMES AND TRADEMARKS 

Nothing contained in this Agreement will be construed as conferring any right to either party to use in advertising, publicity or other
promotional activities any name, trade name, trademark or other designation of the other party (including a contraction, abbreviation or simulation of any of the foregoing). Without the Licensee’s consent case-by-case, The Regents may list Licensee’s name as a licensee of technology from The Regents without further identifying the technology. Unless required by law or unless consented to in writing by
Executive Director, Office of Technology Transfer of The Regents, the use by the Licensee of the name “The Regents of the University of California” or the name of any campus of the University of California in advertising, publicity or
other promotional activities is expressly prohibited. 
 20. LIMITED WARRANTY 

20.1 To the extent of the actual knowledge of the licensing professional responsible for the administration of this Agreement, and as of the Effective Date,
The Regents warrants to the Licensee that (a) it has the lawful right to grant this license, (b) all inventors of the Patents Rights have assigned to The Regents their entire right, title and interest in the Patent Rights, and (c) The
Regents have not received any written notice of any pending or threatened claim or litigation challenging or questioning the validity of, ownership or rights under, the Patent Rights. 

20.2 Except as expressly set forth in this Agreement, this license and the associated Invention, Software, IP Rights, Licensed Products, Licensed Services and
Licensed Methods are provided by The Regents WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY OF ANY KIND, EXPRESS OR IMPLIED. THE REGENTS MAKES NO EXPRESS OR IMPLIED REPRESENTATION OR WARRANTY THAT THE
INVENTION, IP RIGHTS, SOFTWARE, LICENSED PRODUCTS, LICENSED SERVICES OR LICENSED METHODS WILL NOT INFRINGE ANY PATENT, COPYRIGHT, TRADEMARK OR OTHER RIGHTS. 

  
 31 

 20.3 This Agreement does not: 

20.3.1 express or imply a warranty or representation as to the validity, enforceability, or scope of any IP Rights; or 

20.3.2 express or imply a warranty or representation that anything made, used, Sold, offered for Sale or imported or otherwise exploited under
any license granted in this Agreement is or will be free from infringement of patents, copyrights, or other rights of third parties; or 

20.3.3 obligate The Regents to bring or prosecute actions or suits against third parties for patent infringement except as provided in Article
25 (Patent Infringement); or 
 20.3.4 confer by implication, estoppel or otherwise any license or rights under any patents or other rights
of The Regents other than IP Rights, regardless of whether such patents are dominant or subordinate to IP Rights; or 
 20.3.5 obligate The
Regents to furnish any New Developments, know-how, technology or information not provided in Software or IP Rights; or 

20.3.6 obligate The Regents to update the technology in Property Rights or Software. 

21. LIMITATION OF LIABILITY 
 THE REGENTS WILL
NOT BE LIABLE FOR ANY LOST PROFITS, COSTS OF PROCURING SUBSTITUTE GOODS OR SERVICES, LOST BUSINESS, ENHANCED DAMAGES FOR INTELLECTUAL PROPERTY INFRINGEMENT OR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR OTHER SPECIAL DAMAGES SUFFERED BY
LICENSEE, SUBLICENSEES, JOINT VENTURES, OR AFFILIATES ARISING OUT OF OR RELATED TO THIS AGREEMENT FOR ALL CAUSES OF ACTION OF ANY KIND (INCLUDING TORT, CONTRACT, NEGLIGENCE, STRICT LIABILITY AND BREACH OF WARRANTY) EVEN IF THE REGENTS HAS BEEN
ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. 
 22. COPYRIGHT NOTICE 

Licensee and any Sublicensee shall include the following Copyright Notice and Disclaimer in any publication, material or media wherein all or a
part of the Software is contained. Licensee and any Sublicensee shall also include the Copyright Notice and Disclaimer within the text of Licensee’s or as applicable Sublicensee’s licenses, in the same point size and style as is its own
licenses and in a manner required by Uniform Commercial Code Article 2 as adopted by California Law if the applicable Licensed Product or Licensed Service actually contains a copy of all or any portion of the Software. 

  
 32 

 Copyright Notice and Disclaimer 

Certain materials incorporated herein are Copyright ©
        , The Regents of the University of California. All Rights Reserved. 
 23. PATENT PROSECUTION AND
MAINTENANCE 
 23.1 As long as the Licensee has paid Patent Prosecution Costs as provided for in this Article 23 (Patent Prosecution and Maintenance), The
Regents will diligently prosecute and maintain the United States and foreign patents comprising the Patent Rights using counsel of its choice The Regents will meet and confer with Licensee and make good faith efforts to reach mutual agreement with
Licensee concerning choice of counsel. The Regents’ counsel will take instructions only from The Regents. The Regents will provide the Licensee with copies of all relevant documentation so that the Licensee will be informed of the continuing
prosecution and may comment upon such documentation sufficiently in advance of any initial deadline for filing a response, provided, however, that if the Licensee has not commented upon such documentation in a reasonable time for The Regents to
sufficiently consider the Licensee’s comments prior to a deadline with the relevant government patent office, or The Regents must act to preserve the Patent Rights, The Regents will be free to respond without consideration of the
Licensee’s comments, if any. The Licensee agrees to keep this documentation confidential as provided for in Article 34 (Confidentiality). 
 23.2 The
Regents shall use reasonable efforts to amend any patent application to include claims reasonably requested by the Licensee to protect the products and services contemplated to be Sold, or the Licensed Method to be practiced, under this Agreement.

 23.3 The Licensee will apply for an extension of the term of any patent included within the Patent Rights if appropriate under the Drug Price Competition
and Patent Term Restoration Act of 1984 and/or European, Japanese and other foreign counterparts of this Law. The Licensee shall prepare all documents and The Regents agrees to execute the documents and to take additional action as the Licensee
reasonably requests in connection therewith. Licensee shall be liable for all costs relating to such application. 

  
 33 

 23.4 The Licensee will bear the costs of preparing, filing, prosecuting and maintaining all United States
and foreign patent applications included in the Patent Rights (“Patent Prosecution Costs”). Patent Prosecution Costs will include, without limitation, patent prosecution costs for the Invention incurred by The Regents prior to the
execution of this Agreement and any patent prosecution costs that may be incurred for patentability opinions, re-examination, re-issue, interferences, oppositions or
inventorship determinations. The aggregate patent prosecution costs for the Invention as of [***]are $[***]. 
 23.5 Patent Prosecution Costs accrued prior
to the [***] ([***]) [***]-month anniversary of the Effective Date of this Agreement (“Past Patent Costs”) are payable according to the following schedule: 

23.5.1 [***] dollars ($[***]) payable upon each of the first [***] ([***]) [***]-month anniversaries of the Effective Date of this Agreement;

 23.5.2 the remainder of the Past Patent Costs payable upon the [***] ([***]) [***]-month anniversary of the Effective Date. 

23.5.3 Licensee’s obligation to pay Past Patent Costs shall survive termination of this Agreement, unless such termination occurs prior to
the [***] anniversary of the Effective Date. 
 23.6 Subsequent to the [***] ([***]) [***] month anniversary of the Effective Date, Patent Prosecution Costs
billed by The Regents’ counsel will be rebilled to the Licensee and are due within [***] ([***]) days of rebilling by The Regents. 
 23.7 The Licensee
may request that The Regents obtain patent protection on the Invention in foreign countries, if available and if it so desires. The Licensee will notify The Regents of its decision to obtain or maintain foreign patents not less than [***] ([***])
days prior to the deadline for any payment, filing or action to be taken in connection therewith. This notice concerning foreign filing must be in writing, must identify the countries desired and must reaffirm the Licensee’s obligation to pay
the Patent Prosecution Costs thereof. The absence of such a notice from the Licensee to The Regents will be considered an election not to obtain or maintain foreign Patent Rights. 

23.8 The Licensee will be obligated to pay any Patent Prosecution Costs incurred during the [***] ([***])-[***] period after receipt by either party of a
Notice of Termination, even if the invoices for such Patent Prosecution Costs are received by the Licensee after the end of the [***] ([***])-month period following receipt of a Notice of Termination. The Licensee may terminate its obligation to pay
Patent Prosecution Costs with respect to any given patent application or patent under Patent Rights in any or all designated countries upon [***] ([***])-months’ written 

  
 34 

 
notice to The Regents. The Regents may continue prosecution and/or maintenance of such application(s) or patent(s) at its sole discretion and expense, provided, however, that the Licensee will
have no further right or licenses thereunder. Non-payment of Patent Prosecution Costs may be deemed by The Regents as an election by the Licensee not to maintain such application(s) or patent(s). 

23.9 The Regents may file, prosecute or maintain patent applications or patents at its own expense in any country in which the Licensee has not elected to
file, prosecute or maintain patent applications or patents in accordance with this Article 23 (Patent Prosecution and Maintenance) and those applications, resultant patents and patents will not be subject to this Agreement. 

24. PATENT MARKING 
 The Licensee will mark all
Licensed Products made, used or Sold under the terms of this Agreement or their containers in accordance with the applicable patent marking laws. 
 25.
PATENT AND COPYRIGHT INFRINGEMENT 
 25.1 Notice. In the event either party (in the case of The Regents to the extent of the actual knowledge of the
licensing professional responsible for the administration of this Agreement) becomes aware of any possible or actual material infringement of any Patent Rights or Copyright Rights, that party shall promptly notify the other party and provide it with
details regarding such Infringement. During the period in which, and in the jurisdiction where, the Licensee has exclusive rights under this Agreement, neither The Regents nor the Licensee will notify a possible infringer of infringement or put such
infringer on notice of the existence of any Patent Rights without first obtaining consent of the other. If the Licensee puts such infringer on notice of the existence of any Patent Rights with respect to such infringement without first obtaining the
written consent of The Regents and if a declaratory judgment action is filed by such infringer against The Regents, then Licensee’s right to initiate a suit against such infringer for infringement under Paragraph 25.2 below will terminate
immediately without the obligation of The Regents to provide notice to the Licensee. Both The Regents and the Licensee will use their diligent efforts to cooperate with each other to terminate such infringement without litigation. 

  
 35 

 25.2 Suit by Licensee. If infringing activity of potential commercial significance by the infringer
has not been abated within [***] ([***]) days following the date the Infringement Notice takes effect, then Licensee shall have the first right, but not the obligation, to take action in the prosecution, prevention, or termination of any
Infringement. The Licensee may not join The Regents as a party in a suit initiated by the Licensee without The Regents’ prior written consent, such consent subject to the approval of the UC Board of Regents. Before Licensee commences an action
with respect to any Infringement, Licensee shall consider in good faith the views of The Regents in making its decision whether to sue. Should Licensee elect to bring suit against an infringer, Licensee shall keep The Regents reasonably informed of
the progress of the action and shall give The Regents a reasonable opportunity in advance to consult with Licensee and offer its views about major decisions affecting the litigation. Licensee shall give careful consideration to those views, but
shall have the right to control the action; provided, however, that if Licensee fails to defend in good faith the validity and/or enforceability of the Patent Rights in the action or, or if Licensee’s license to a Valid Claim in the suit
terminates, The Regents may elect to take control of the action pursuant to Section 25.3. Should Licensee elect to bring suit against an infringer and The Regents is joined as party plaintiff in any such suit, The Regents shall have the right
to approve the counsel selected by Licensee to represent Licensee and The Regents, such approval not to be unreasonably withheld or delayed. The expenses of such suit or suits that Licensee elects to bring, including any expenses of The Regents
incurred at the request of Licensee in conjunction with the prosecution of such suits or the settlement thereof, shall be paid for entirely by Licensee and Licensee shall hold The Regents free, clear and harmless from and against any and all costs
of such litigation, including attorneys’ fees, incurred by The Regents at the request of Licensee. Licensee shall not compromise or settle such litigation without the prior written consent of The Regents, which consent shall not be unreasonably
withheld or delayed, provided that such written consent of The Regents shall only be required if such compromise or settlement materially adversely affects The Regents’ right, title or interest in and to the Patent Rights or Copyright Rights or
requires The Regents to admit any liability, pay any money or take any action that would have a material adverse effect on The Regents. Any recovery or settlement received in connection with any suit will first be shared by The Regents and the
Licensee equally to cover any litigation costs each incurred and next shall be paid to The Regents or the Licensee to cover any litigation costs it incurred in excess of the litigation costs of the other. In any suit Initiated by the Licensee, any
recovery in excess of litigation costs will be shared between Licensee and The Regents as follows: (a) for any recovery other than amounts paid for willfill 

  
 36 

 
infringement: (i) The Regents will receive [***] percent ([***]%) of the recovery if The Regents was not a party in the litigation and did not incur any litigation costs, (ii) The
Regents will receive [***] percent ([***]%) of the recovery if The Regents was a party in the litigation whether joined as a party under the provisions of Paragraph 25.2 or otherwise, but The Regents did not incur any litigation costs, and
(iii) The Regents will receive [***] percent ([***]%) of the recovery if The Regents incurred any litigation costs in connection with the litigation; and (b) for any recovery for willful infringement, The Regents will receive [***] percent
([***]%) of the recovery. For the avoidance of doubt, Licensee shall have the right to extend any or all of its rights under this Article 25 to one or more Sublicensee(s). 

25.3 Suit by The Regents. If Licensee does not take action in the prosecution, prevention, or termination of any Infringement pursuant to
Section 25.2 above, and has not commenced negotiations with the infringer for the discontinuance of said Infringement, within [***] ([***]) days after receipt of notice to Licensee by The Regents of the existence of an Infringement, The Regents
may elect to do so. The expenses of such suit or suits that The Regents elects to bring, including any expenses of Licensee incurred at the request of The Regents in conjunction with the prosecution of such suits or the settlement thereof, shall be
paid for entirely by The Regents. In any suit initiated by The Regents, any recovery in excess of litigation costs will belong to The Regents. 
 25.4
Own Counsel. Each party shall always have the right to be represented by counsel of its own selection and at its own expense in any suit instituted under this Article 25 by the other party for Infringement, 

25.5 Cooperation. Each party agrees to cooperate fully in any action under this Article 25 that is controlled by the other party, provided that the
controlling party reimburses the cooperating party promptly for any costs and expenses incurred by the cooperating party in connection with providing such assistance. 

26. INDEMNIFICATION 
 26.1 The Licensee will, and will require
its Sublicensees to, indemnify, hold harmless and defend The Regents, the sponsors of the research that led to the Invention and the development of the Software, and the authors of Software and the inventors of any invention claimed in patents or
patent applications under Patent Rights and their employers, and the officers, 

  
 37 

 
employees and agents of any of the foregoing, against any and all claims, suits, losses, damage, costs, fees and expenses resulting from, or arising out of, the exercise of this license or any
sublicense (collectively, “Claims”). This indemnification will include, but not be limited to, any product liability. Claims shall be defended at the Licensee’s sole expense by counsel selected by Licensee and reasonably acceptable to
The Regents, provided that notwithstanding the foregoing, The Regents may be represented by separate counsel of its choosing at the cost and expense of the Licensee if a conflict of interest exists such that the counsel selected by the Licensee
cannot simultaneously represent The Regents. The Licensee shall have sole control over the defense of any such Claim, but neither Licensee nor The Regents shall settle any Claim without the prior written consent of the other, which consent shall not
be unreasonably withheld. 
 26.2 The Licensee, at its sole cost and expense, will insure its activities in connection with any work performed hereunder and
will obtain, keep in force, and maintain the following insurance: 26.2.1 Commercial Form General Liability Insurance (contractual liability included) with limits as follows: 
  

			
	 Each Occurrence
	  	$[***]
	 Products/Completed Operations Aggregate
	  	$[***]
	 Personal and Advertising Injury
	  	$[***]
	 General Aggregate (commercial form only)
	  	$[***]

 If the above insurance is written on a claims-made form, it shall continue for [***] ([***]) years following termination or
expiration of this Agreement. The insurance shall have a retroactive date of placement prior to or coinciding with the Effective Date of this Agreement; and 

26.2.1 Worker’s Compensation as legally required in the jurisdiction in which the Licensee is doing business. 

26.3 The coverage and limits referred to in Paragraph 26.2.1 and 26.2.2 above will not in any way limit the liability of the Licensee under this Article 26
(Indemnification). Upon the execution of this Agreement, the Licensee will furnish The Regents with certificates of insurance evidencing compliance with all requirements. Such certificates will: 

 

	 	•	 	 Provide for [***] ([***]) days’ ([***] ([***]) days for non-payment
of premium) advance written notice to The Regents of any cancellation of insurance coverage; the Licensee will promptly notify The Regents of any material modification of the insurance coverage; 

  
 38 

	 	•	 	 Indicate that The Regents has been endorsed as an additional insured under the coverage described above in
Paragraph 24.2.1; and 

  

	 	•	 	 Include a provision that the coverage will be primary and will not participate with, nor will be excess over, any
valid and collectable insurance or program of self-insurance maintained by The Regents. 

 26.4 The Regents will promptly notify the
Licensee in writing of any claim or suit brought against The Regents for which The Regents intends to invoke the provisions of this Article 26 (Indemnification). The Licensee will keep The Regents informed of its defense of any claims pursuant to
this Article 26 (Indemnification). 
 27. NOTICES 
 27.1 Any
notice or payment required to be given to either party under this Agreement will be in writing and will be deemed to have been properly given and to be effective as of the date specified below if delivered to the respective address given below or to
another address as designated by written notice given to the other party: 
 27.1.1 on the date of delivery if delivered in person; 

27.1.2 on the date of mailing if mailed by first-class certified mail, postage paid; or 

27.1.3 on the date of mailing if mailed by any global express carrier service that requires the recipient to sign the documents demonstrating
the delivery of such notice or payment. 
  

			
		
	 In the case of Licensee:
	  	Akili Interactive Labs, Inc. 
500 Boylston Street, Suite 1600 Boston, 
Massachusetts 02116 
Attention: W. Eddie Martucci, PhD
		
	 With a copy to:
	  	Gregory Ploussios 
Partner 
Edwards Wildman Palmer LLP 
111 Huntington Avenue 
Boston, MA 02199
		
	 In the case of The Regents:
	  	 Office of Innovation, Technology & Alliances

University of California San Francisco
 3333 California Street,
Suite S-l 1
 San Francisco, CA 94143

Attention: Director

RE:        UCSF Case No. SF2011-039

  
 39 

			
	 For payments to The Regents:
	  	 Office of Technology Transfer

Attn.: Accounts Receivable

University of California

Office of the President

1111 Franklin Street, 5th Floor

Oakland, CA 94607-5200

RE:        UCSF Case No.
SF2011-039

 28. ASSIGNABILITY 

This Agreement is personal to the Licensee. The Licensee may assign or transfer this Agreement, without The Regents’ prior written
consent, only in the case of assignment or transfer to a party that succeeds to all or substantially all of Licensee’s business or assets relating to this Agreement, whether by sale, merger, operation of law or otherwise, provided that such
assignee or transferee promptly agrees to be bound by the terms and conditions of this Agreement and signs The Regents’ standard substitution of party letter (the form of which is attached hereto as Appendix A). Any attempted assignment by
Licensee other than in accordance with this Paragraph 28 will be null and void. This Agreement is binding upon and will inure to the benefit of The Regents, its successors and assigns. 

29. WAIVER 
 No waiver by either party of any
breach or default of any of the agreements contained herein will be deemed a waiver as to any subsequent and/or similar breach or default. No waiver will be valid or binding upon the parties unless made in writing and signed by a duly authorized
officer of each party. 
 30. FORCE MAJEURE 
 30.1 Except for
the Licensee’s obligation to make any payments to The Regents hereunder, the parties shall not be responsible for any failure to perform due to the occurrence of any events beyond their reasonable control which render their performance
impossible or onerous, including, but not limited to: accidents (environmental, toxic spill, etc.); acts of God; biological or nuclear incidents; casualties; earthquakes; fires; floods; governmental acts; orders or restrictions; inability to obtain
suitable and sufficient labor, transportation, fuel and materials; local, national or state emergency; power failure and power outages; acts of terrorism; strike; and war. 

30.2 Either party to this Agreement, however, will have the right to terminate this Agreement upon [***] ([***]) days’ prior written notice if either
party is unable to fulfill its obligations under this Agreement due to any of the causes specified in Paragraph 30.1 for a period of [***] ([***]) year. 

  
 40 

 31. GOVERNING LAWS; VENUE; ATTORNEYS’ FEES 

31.1 THIS AGREEMENT WILL BE INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, excluding any choice of law rules that would
direct the application of the laws of another jurisdiction and without regard to which party drafted particular provisions of this Agreement, but the scope and validity of any patent or patent application will be governed by the applicable laws of
the country of such patent or patent application. 
 31.2 Any legal action brought by the parties hereto relating to this Agreement will be conducted in San
Francisco, California. 
 31.3 The prevailing party in any suit related to this Agreement will be entitled to recover its reasonable attorneys’ fees in
addition to its costs and necessary disbursements. 
 32. GOVERNMENT APPROVAL OR REGISTRATION 

If this Agreement or any associated transaction is required by the law of any nation to be either approved or registered with any governmental
agency, the Licensee will assume all legal obligations to do so. The Licensee will notify The Regents if it becomes aware that this Agreement is subject to a United States or foreign government reporting or approval requirement. The Licensee will
make all necessary filings and pay all costs including fees, penalties and all other out-of-pocket costs associated with such reporting or approval process. 

33. COMPLIANCE WITH LAWS 
 The Licensee shall
comply with all applicable international, national, state, regional and local laws and regulations in performing its obligations hereunder and in its use, manufacture, Sale or import of the Licensed Products, Licensed Services or practice of the
Licensed Method. The Licensee will observe all applicable United States and foreign laws with respect to the transfer of Licensed Products and related technical data and the provision of Licensed Services to foreign

  
 41 

 
countries, including, without limitation, the International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations. The Licensee shall manufacture Licensed Products and
practice the Licensed Method in compliance with applicable government importation laws and regulations of a particular country for Licensed Products made outside the particular country in which such Licensed Products are used. Sold or otherwise
exploited. 
 34. CONFIDENTIALITY 
 34.1 The Licensee and The
Regents will treat and maintain the other party’s proprietary business, patent prosecution, software, engineering drawings, process and technical information and other proprietary information, including the negotiated terms of this Agreement
and any progress reports and royalty reports and any sublicense agreement issued pursuant to this Agreement (“Proprietary Information”) in confidence using at least the same degree of care as the receiving party uses to protect its own
proprietary information of a like nature from the date of disclosure until [***] ([***]) years after the termination or expiration of this Agreement. The Licensee and The Regents may use and disclose Proprietary Information to their employees,
agents, consultants, contractors and, in the case of the Licensee, its Sublicensees, provided that such parties are bound by a like duty of confidentiality as that found in this Article 34 (Confidentiality). Notwithstanding anything to the contrary
contained in this Agreement, The Regents may release this Agreement or any sublicense, including any terms thereof, and information regarding royalty payments or other income received in connection with this Agreement to the inventors, senior
administrative officials employed by The Regents and individual Regents who have a need to know such information upon their request. If such release is made, The Regents will request that such terms be kept in confidence in accordance with the
provisions of this Article 34 (Confidentiality), and will make best efforts to ensure compliance. In addition, notwithstanding anything to the contrary in this Agreement, if a third party inquires whether a license to Patent Rights is available,
then The Regents may disclose the existence of this Agreement and the extent of the grant in Articles 2 (Grant) and 3 (Sublicenses) and related definitions to such third party, but will not disclose the name of the Licensee unless Licensee has
already made such disclosure publicly. 

  
 42 

 34.2 All written Proprietary Information will be labeled or marked confidential or proprietary, provided
that documents or reports containing information on payments and royalties paid under this Agreement or any sublicense agreement and this Agreement and any sublicense agreement need not be so labeled or marked confidential in order to be afforded
protection as Proprietary Information hereunder. If the Proprietary Information is orally disclosed, it will be reduced to writing or some other physically tangible form, marked and labeled as confidential or proprietary by the disclosing party and
delivered to the receiving party within [***] ([***]) days after the oral disclosure. 
 34.3 Nothing contained herein will restrict or impair, in any way,
the right of the Licensee or The Regents to use or disclose any Proprietary Information: 
 34.3.1 that recipient can demonstrate by written
records was previously known to it prior to its disclosure by the disclosing party; 
 34.3.2 that recipient can demonstrate by written
records is now, or becomes in the future, public knowledge other than through acts or omissions of recipient; 
 34.3.3 that recipient can
demonstrate by written records was obtained lawfully and without restrictions on the recipient from sources independent of the disclosing party; 

34.3.4 that recipient can demonstrate was developed independently without access to such Proprietary Information; and 

34.3.5 that The Regents is required to disclose pursuant to the California Public Records Act or other applicable law The Licensee or The
Regents also may disclose Proprietary Information that is required to be disclosed (i) to a governmental entity or agency in connection with seeking any governmental or regulatory approval, governmental audit, or other governmental contractual
requirement or (ii) by law, provided that the recipient uses reasonable efforts to give the party owning the Proprietary Information sufficient notice of such required disclosure to allow the party owning the Proprietary Information reasonable
opportunity to object to, and to take legal action to prevent, such disclosure. 
 Upon termination of this Agreement, the Licensee anti The Regents will
destroy or return any of the disclosing party’s Proprietary Information in its possession within [***] ([***]) days following the termination of this Agreement. The Licensee and The Regents will provide each other, within [***] ([***]) days
following termination, with written notice that such Proprietary Information has been returned or destroyed. Each party may, however, retain one copy of such Proprietary Information for archival purposes in
non-working files. 

  
 43 

 35. MISCELLANEOUS 

35.1 The headings of the several sections are inserted for convenience of reference only and are not intended to be a part of or to affect the meaning or
interpretation of this Agreement. 
 35.2 This Agreement is not binding on the parties until it has been signed below on behalf of each party. It is then
effective as of the Effective Date. 
 35.3 No amendment or modification of this Agreement is valid or binding on the parties unless made in writing and
signed on behalf of each party. 
 35.4 This Agreement embodies the entire understanding of the parties and supersedes all previous communications,
representations or understandings, either oral or written, between the parties relating to the subject matter hereof. The Option Agreement ( UC Control No. 2012-11-
0004) dated August 3 2011—March 31, 2013 is hereby superseded. 
 35.5 In case any of the provisions contained in this Agreement is held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect any other provisions of this Agreement and this Agreement will be construed as if such invalid, illegal or unenforceable provisions had
never been contained in it. 
 35.6 This Agreement includes the attached Appendix A. 

35.7 No provisions of this Agreement are intended or shall be construed to confer upon or give to any person or entity other than The Regents and the Licensee
any rights, remedies or other benefits under, or by reason of, this Agreement. 
 35.8 In performing their respective duties under this Agreement, each of
the parties will be operating as an independent contractor. Nothing contained herein will in any way constitute any association, partnership, or joint venture between the parties hereto, or be construed to evidence the intention of the parties to
establish any such relationship. Neither party will have the power to bind the other party or incur obligations on the other party’s behalf without the other party’s prior written consent. 

In witness whereof, both The Regents and the Licensee have executed this Agreement, in duplicate originals, by their respective officers hereunto duly
authorized, on the date and year hereinafter written. This Agreement may be executed in one or more counterparts. Delivery of an executed counterpart of this Agreement by facsimile or a PDF data file or other scanned executed counterpart by email
shall be equally as effective as delivery of a 

  
 44 

 
manually executed counterpart of this Agreement. Each duplicate and counterpart of this Agreement shall be equally admissible in evidence, and each shall fully bind each party who has executed
it. The parties agree that a copy of the original signature (including an electronic copy) may be used for any and all purposes in respect of this Agreement for which the original signature may have been used. The parties agree that neither party
will have any rights to challenge the use or authenticity of a counterpart of this Agreement based solely on that its signature, or the signature of the other party, on such counterpart is not an original signature. 

  
 45 

									
	AKILI INTERACTIVE LABS, INC.	 		 	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
					
	By:	 	/s/ Daphne Zohar	 		 	By:	 	/s/ Karin H. Immergluck
		 	(Signature)	 		 		 	(Signature)

  

									
	Name:	 	Daphne Zohar	 		 	Name:	 	Karin H. Immergluck
		 	(Please Print)	 		 		 	
					
	 Title:
	 	Acting CEO	 		 	 Title:
	 	Acting Director
		 		 		 	Office of Innovation, Technology & Alliances
					
	 Date:
	 	10-18-13	 		 	 Date:
	 	10-18-2013

  
 46 

 APPENDIX A 

UC Case No .[***] 
 CONSENT TO
SUBSTITUTION OF PARTY 
 This substitution of parties (“Agreement”) is effective this ___ day of ______, 20__, among The
Regents of the University of California (“The Regents”), a California corporation, having its statewide administrative offices at 1111 Franklin Street, 12th Floor, Oakland, California 94607-5200 and acting through its Office of Innovation,
Technology & Alliances, University of California San Francisco (“UCSF”), 3333 California Street, Suite S-l 1„ San Francisco, California 94143; and Akili Interactive Labs, Inc.
(“Akili”), a Delaware corporation, having a principal place of business at 500 Boylston Street, Suite 1600, Boston, MA 02116; and [new licensee name] [(“YYY”)] a____________corporation, having a principal place of business
at____________________. 
 BACKGROUND 
 A. The
Regents and Akili entered into a License Agreement effective __________(UC Control No.___-____-_____), entitled (“License Agreement”), wherein Akili was granted certain rights. 

B. Akili desires that [YYY] be substituted as Licensee (defined in the License Agreement) in place of Akili, and The Regents is agreeable to such
substitution. 
 C. [YYY] has read the License Agreement and agrees to abide by its terms and conditions. 

The parties agree as follows: 

1. [YYY] assumes all liability and obligations under the License Agreement and is bound by all its terms in all respects as if it were the
original Licensee of the License Agreement in place of Akili. 
 2. [YYY] is substituted for Akili, provided that [YYY] assumes all
liability and obligations under the License Agreement as if [YYY] were the original party named as Licensee as of the effective date of the License Agreement. 

3. The Regents releases Akili from all liability and obligations under the License Agreement arising before or after the effective date of
this Agreement. 

 The parties have executed this Agreement in triplicate originals by their respective authorized officers on
the following day and year. 
  

									
	AKLLI INTERACTIVE LABS, INC.	 		 	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
					
	By:	 	 	 		 	By:	 	 
		 	(Signature)	 		 		 	
					
	Name:	 	 	 		 	Name:	 	 
		 	(Please print)	 		 		 	
					
	Title:	 	 	 		 	Title:	 	 
		 		 		 	Office of Innovation, Technology & Alliances
					
	Date:	 	 	 		 	Date:	 	 

  

			
	[YYY] COMPANY
		
	By:	 	 
	(Signature)
		
	Name:	 	 
	(Please print)
		
	Title:	 	 
		
	Date:	 	 

 CERTAIN CONFIDENTIAL INFORMATION, MARKED BY [***] HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT
MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
 AMENDMENT NO. 1 

to the 
 EXCLUSIVE LICENSE
AGREEMENT 
 Between 
 THE
REGENTS OF THE UNIVERSITY OF CALIFORNIA 
 and 

AKILI INTERACTIVE LABS, INC. 

This Amendment No. 1 (“Amendment No. 1”) to the Exclusive License Agreement dated October 18, 2013, with UC Agreement
Control No. 2014-04-0109 for “Method and System for Diagnosing and Training Interference Abilities” as described in UC Case No 2011-039 (the “Original Agreement”) by and between Akili Interactive Labs, Inc. (“Akili”), a Delaware corporation, having a principal place of business at 125 Broad Street, 4th Floor, Boston,
Massachusetts 02110 and The Regents of the University of California (“The Regents”), having its statewide administrative offices at 1111 Franklin Street, 12th Floor, Oakland, California 94607-5200 and acting through its Office of
Technology Management, University of California San Francisco (“UCSF”), 600 16th Street, Suite S-272, San Francisco, CA 94143, is entered into effective as of May 17, 2018 (“Amendment
No. 1 Effective Date”). 
 WHEREAS, Akili and The Regents originally entered into the Original Agreement, a copy of which
is attached hereto as Exhibit A; 
 WHEREAS, Akili and The Regents have concluded that there are some potential complexities
regarding the definition of “Combination Product” in the Original Agreement; and 
 WHEREAS, The Regents and Akili executed
a second exclusive license agreement: the ‘BBT License Agreement’ dated May 9, 2018 by and between The Regents and Akili for the “Brain Body Trainer” technology (UC Case No.
SF2014-208) (“BBT License Agreement”) 
 WHERE AS, The Regents and Akili desire to
amend certain provisions of the Original Agreement to address the aforementioned complexities. 
 NOW, THEREFORE, in consideration of
the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows. 

Capitalized terms used herein but not defined herein shall have the same meanings given to them in the Original Agreement. 

Akili and The Regent hereby agree as follows: 

1. Paragraph 1.6 of the Original Agreement is hereby deleted and replaced in its entirety as follows, effective as of the Effective Date of
the Original Agreement: 

 “Combination Product” means a combined Product, other than a NR/BBT
Product, that contains or uses a Licensed Product or Licensed Service and at least one other Product or process (a “Combination Product Component”), where (i) such Combination Product Component is not a Licensed Product or Licensed
Service, (ii) if such Combination Product Component were removed from such combined Product, the manufacture, use, Sale or import of the resulting Product in or into a particular country would infringe, but for a license, the same Valid Claim
in the country where such manufacture, use, Sale or import occurs as such combined Product and (iii) the market price of such combined Product is higher than the market price for such Licensed Product or Licensed Service as a result of such
combined Product containing or using such Combination Product Component.” 
 2. The following language shall be deemed inserted as a
new Paragraph 1.41 of the Original Agreement, effective as of the Effective Date of the Original Agreement: 
 “NR Only
Product” means a Licensed Product, Licensed Method or Licensed Service as set forth in the definitions set forth in this Agreement that is not also a Licensed Product, Licensed Method or Licensed Service as defined in the BBT License
Agreement.” 
 3. The following language shall be deemed inserted as a new Paragraph 1.42 of the Original Agreement, effective as of
the Effective Date of the Original Agreement: 
 “NR/BBT Product” means a Licensed Product, Licensed Method or Licensed
Service as set forth in the definitions set forth in this Agreement that is also a Licensed Product, Licensed Method or Licensed Service as defined in the BBT License Agreement.” 

4. The following language shall be deemed inserted as a new Paragraph 1.43 of the Original Agreement, effective as of the Effective Date of
the Original Agreement: 
 “‘BBT License Agreement’ means that certain exclusive license agreement dated May 9,
2018 by and between The Regents and Aki 11 for the “Brain Body Trainer” technology (UC Case No. SF2014-208) (“BBT License Agreement”).” 

5. Paragraph 8.1 of the Original Agreement is hereby deleted and replaced in its entirety as follows, effective as of the Effective Date of
the Original Agreement: 
 “The Licensee will also pay to The Regents a Royalty of (i) [***] percent ([***]%) of the Net Sales derived
from each non-Clinically-Tested NR Only Product or NR/BBT Product by the Licensee or any Distributor and [***] percent ([***]%) of the Net Sales of each Clinically-Tested NR Only Product or NR/BBT Product by
the Licensee or any Distributor.” 
 6. Reaffirmation of the Original Agreement. Except as expressly amended herein, the
provisions of the Original Agreement are hereby confirmed and continue in full force and effect in all other respects as between The Regents and Akili, and their respective legal representatives, permitted successors and permitted assigns. 

  
 2 

 7. Miscellaneous. This Amendment No. 1 may be executed in any number of
counterparts, each of which, when executed by both parties to this Amendment No. 1 shall be deemed to be an original, and all of which counterparts together shall constitute one and the same instrument. This Amendment No. 1 shall be
governed by and construed under the laws of the State of California applicable to contracts made, accepted, and performed wholly within the State of California, without application of principles of conflicts of law. The headings of the sections in
this Amendment No. 1 are for convenience purposes only and do not form part, and shall not be used in construction, of this Amendment No. 1. 

[Remainder of Page Intentionally Blank.] 

  
 3 

 IN WITNESS WHEREOF, the parties have caused this Amendment No. 1 to be executed by their truly
authorized representatives as of the Amendment No. 1 Effective Date. 
  

			
	 AKILI INTERACTIVE LABS, INC.

		
	 By:
	 	 /s/ W. Edward Martucci

	 Name: W. Edward Martucci, Ph.D.

	 Title: CEO

	
	 THE REGENTS OF THE UNIVERSITY OF CALIFORNIA

		
	 By:
	 	 /s/ Sunita Rajdev

	 Name: Sunita Rajdev

	 Title: Interim Director

  
 4 

 CERTAIN CONFIDENTIAL INFORMATION, MARKED BY [***] HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT
MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
 AMENDMENT NO. 2 

to the 
 EXCLUSIVE LICENSE
AGREEMENT 
 Between 
 THE
REGENTS OF THE UNIVERSITY OF CALIFORNIA 
 and 

AKILI INTERACTIVE LABS, INC. 

This Amendment No. 2 (“Amendment No. 2”) to the Exclusive License Agreement dated October 18,2013, with UC Agreement
Control No. 2014-04-0109 for “Method and System for Diagnosing and Training Interference Abilities” as described in UC Case No 2011-039, by and between Akili Interactive Labs, Inc. (“Akili”), a Delaware corporation, having a principal place of business at 125 Broad Street, 4th Floor, Boston, Massachusetts 02110, and The Regents of
the University of California (“The Regents”), having its statewide administrative offices at 1111 Franklin Street, 12th Floor, Oakland, California 94607-5200 and acting through its Office of Technology Management, University of California
San Francisco (“UCSF”), 600 16th Street, Suite S-272, San Francisco, CA 94143, as amended by that certain Amendment No. 1 to the Exclusive License Agreement dated May 17,2018 (together, the
“Original Agreement”), is entered into effective as of February 25, 2019 (“Amendment No. 2 Effective Date”). 

WHEREAS, Akili and The Regents originally entered into the Original Agreement, a copy of which is attached hereto as Exhibit A;

 WHEREAS, Akili and The Regents wish to amend certain provisions of the Original Agreement relating to (a) to the release of
the source code of a Licensed Product from an Escrow Arrangement and the beneficiaries’ use thereof and (b) certain diligence milestones, in each case, on the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows. 
 Capitalized terms used herein but not defined herein
shall have the same meanings given to them in the Original Agreement. 
 1. The following sentence is hereby added to the end of Paragraph
1.9 of the Original Agreement: 
 “For the avoidance of doubt, a Distributor includes any Sublicensee that makes the functionality of
Licensed Products accessible to End Users through the provision of activation codes, even if such Licensed Products are made available via an Application Store and even if such End Users enter into an End User License Agreement with Licensee (and
not such Distributor).” 

 2. Paragraph 1.10 of the Original Agreement is hereby deleted and replaced in its entirety
as follows: 
 “ “Distributor License Agreement” means a sublicense from Licensee or a Sublicensee to a Distributor,
including but not limited to an Application Store, to distribute Licensed Services or copies of Licensed Products in object code form only, or make the functionality of Licensed Products or Licensed Services accessible (including via a software-as-a-service) to End Users pursuant to End User License Agreements, but not to modify or create derivative works of any
Licensed Product or Licensed Service (other than pursuant to a release of source code under an Escrow Arrangement and then solely for the purposes of providing support and maintenance to End Users and otherwise supporting such Distributor’s
licensed use of the Licensed Product or Licensed Service). For the avoidance of doubt, a Distributor License Agreement includes a sublicense agreement pursuant to which the applicable Distributor makes the functionality of Licensed Products
accessible to End Users through the provision of activation codes, even if such Licensed Products are made available via an Application Store and even if such End Users enter into an End User License Agreement with Licensee (and not such
Distributor).” 
 3. The following sentence is hereby added to the end of Paragraph 1.14 of the Original Agreement: 

“Such beneficiaries may permit Service Providers, including Affiliates and/or third party vendors of such Service Providers, to access,
use and modify such source code for the benefit of the applicable beneficiary, as set forth in Section 3.1.” 
 4. Paragraph
12.3.4 of the Original Agreement is hereby deleted and replaced in its entirety as follows; 
 “market or sell a Licensed Product or
Licensed Service by [***]”. 
 5. Reaffirmation of the Original Agreement. Except as expressly amended herein, the provisions of
the Original Agreement are hereby confirmed and continue in full force and effect in all other respects as between The Regents and Akili, and their respective legal representatives, permitted successors and permitted assigns. 

6. Miscellaneous. This Amendment No. 2 may be executed in any number of counterparts, each of which, when executed by both parties
to this Amendment No. 2 shall be deemed to be an original, and all of which counterparts together shall constitute one and the same instrument. This Amendment No. 2 shall be governed by and construed under the laws of the State of
California applicable to contracts made, accepted, and performed wholly within the State of California, without application of principles of conflicts of law. The headings of the sections in this Amendment No. 2 are for convenience purposes
only and do not form part, and shall not be used in construction, of this Amendment No. 2. 

  
 2 

 IN WITNESS WHEREOF, the parties have caused this Amendment No. 2 to be executed by their truly
authorized representatives as of the Amendment No. 2 Effective Date. 
  

			
	AKILI INTERACTIVE LABS, INC.
		
	By:	 	/s/ W. Edward Martucci

 
			
	Name:	 	W. Edward Martucci, Ph.D.
	Title:	 	CEO
	
	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA

 
			
		
	By:	 	/s/ Sunita Rajdev

 
			
	Name:	 	Sunita Rajdev, Ph.D.
	Title:	 	Senior Associate Director
		 	Innovation Ventures
		 	UCSF

  
 3EX-10.17

 Exhibit 10.17 

AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

THIS AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of May 25, 2021 (the
“Effective Date”) among (a) SILICON VALLEY BANK, a California corporation (“SVB”), in its capacity as administrative agent and collateral agent (“Agent”), (b) SILICON VALLEY
BANK, a California corporation, as a lender, (c) SVB INNOVATION CREDIT FUND VIII, L.P., a Delaware limited partnership (“SVB Innovation Fund”), as a lender (SVB and SVB Innovation Fund and each of the other
“Lenders” from time to time a party hereto are referred to herein collectively as the “Lenders” and each individually as a “Lender”), and (d) AKILI INTERACTIVE LABS, INC., a Delaware
corporation (“Borrower”), provides the terms on which Agent and the Lenders shall lend to Borrower, and Borrower shall repay Agent and the Lenders. 

A. SVB and Borrower have previously entered into that certain Loan and Security Agreement dated as of December 21, 2018, as amended by a
certain First Loan Modification Agreement dated as of August 10, 2020 (the “Prior Loan Agreement”). 
 B. Agent, the Lenders
and Borrower have agreed to amend and restate, and replace, the Prior Loan Agreement in its entirety. Agent, the Lenders and Borrower hereby agree that the Prior Loan Agreement is amended and restated in its entirety as follows: 

1 ACCOUNTING AND OTHER TERMS 

Accounting terms not defined in this Agreement shall be construed following GAAP. Calculations and determinations must be made following GAAP.
Notwithstanding the foregoing, all financial covenant calculations shall be computed with respect to Borrower only, and not on a consolidated basis. Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in
Section 14 of this Agreement. All other terms contained in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to the extent such terms are defined therein. 

2 LOAN AND TERMS OF PAYMENT 

2.1 Promise to Pay. Borrower hereby unconditionally promises to pay to Agent, for the ratable benefit of each Lender, the
outstanding principal amount of all Credit Extensions advanced to Borrower by such Lender and accrued and unpaid interest thereon, together with any fees as and when due in accordance with this Agreement. 

2.2 Term Loan Advances. 

(a) Availability. Subject to the terms and conditions of this Agreement, upon Borrower’s request, during the Term A Loan Draw
Period, the Lenders, severally and not jointly, shall make term loan advances available to Borrower in an original principal amount of up to Thirty-Five Million Dollars ($35,000,000.00) according to each Lender’s Term A Loan Commitment as set
forth on Schedule 1 hereto (each, a “Term A Loan Advance” and, collectively, the “Term A Loan Advances”); provided, however, that Borrower shall request on the Effective Date, and the Lenders, severally and not
jointly, shall make one (1) term loan advance to Borrower on or about the Effective Date in an original principal amount of at least Five Million Dollars ($5,000,000.00) according to each Lender’s Term A Loan Commitment as set forth on
Schedule 1 hereto (the “Initial Term A Loan Advance”). Borrower shall be required to use the proceeds of the Initial Term A Loan Advance to pay in full all obligations and liabilities of Borrower to SVB in connection with 2020
Growth Capital Advances (as defined in the Prior Loan Agreement) outstanding (including, without limitation, the accrued portion of the 2020 Growth Capital Final Payment (as defined in the Prior Loan Agreement), in the amount of Twenty-Seven
Thousand Two Hundred Fifty-

  
 1 

 
Eight and 41/100 Dollars ($27,258.41) but excluding the unaccrued portion of the 2020 Growth Capital Final Payment (as defined in the Prior Loan Agreement) in the amount of Seventy-Two Thousand Seven Hundred Forty-One and 59/100 Dollars ($72,741.59) (the “Unaccrued Final Payment”) and excluding the 2020 Growth Capital Prepayment
Fee (as defined in the Prior Loan Agreement)), and Borrower hereby authorizes Agent to apply the proceeds of the Initial Term A Loan Advance (internally, without actually providing such funds to Borrower) to such obligations and liabilities in
connection therewith as part of the funding process. Subject to the terms and conditions of this Agreement, upon Borrower’s request, during the Term B Loan Draw Period, the Lenders, severally and not jointly, shall make one (1) term loan
advance available to Borrower in an original principal amount of Five Million Dollars ($5,000,000.00) according to each Lender’s Term B Loan Commitment as set forth on Schedule 1 hereto (the “Term B Loan Advance”). Subject to
the terms and conditions of this Agreement, upon Borrower’s request, during the Term C Loan Draw Period, the Lenders, severally and not jointly, shall make term loan advances available to Borrower in an original principal amount of up to Ten
Million Dollars ($10,000,000.00) according to each Lender’s Term C Loan Commitment as set forth on Schedule 1 hereto (each, a “Term C Loan Advance” and, collectively, the “Term C Loan Advances”). The Term A
Loan Advances, the Term B Loan Advance and the Term Loan C Advances are hereinafter referred to singly as a “Term Loan Advance” and collectively as the “Term Loan Advances”. Each Term Loan Advance must be in an
original principal amount equal to at least Five Million Dollars ($5,000,000.00). After repayment, no Term Loan Advance (or any portion thereof) may be reborrowed. 

(b) Interest Period. Commencing on the first (1st) Payment Date of the month following the month in which the Funding Date of the
applicable Term Loan Advance occurs, and continuing on the Payment Date of each month thereafter, Borrower shall make monthly payments of interest to Agent, for the account of the Lenders, in arrears, on the principal amount of each Term Loan
Advance, at the rate set forth in Section 2.3(a). 
 (c) Repayment. Commencing on the Term Loan Amortization Date, and
continuing on each Payment Date thereafter, Borrower shall repay the aggregate outstanding Term Loan Advances to Agent, for the account of the Lenders, in (i) equal monthly installments of principal over the number of months for the period
commencing on the Term Loan Amortization Date and ending on the Term Loan Maturity Date, plus (ii) monthly payments of accrued interest at the rate set forth in Section 2.3(a). All outstanding principal and accrued and unpaid interest with
respect to the Term Loan Advances, and all other outstanding Obligations under the Term Loan Advances, are due and payable in full on the Term Loan Maturity Date. 

(d) Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan Advances advanced by
the Lenders under this Agreement, provided Borrower (i) provides written notice to Agent of its election to prepay the Term Loan Advances at least five (5) Business Days prior to such prepayment, and (ii) pays to Agent, for the
account of the Lenders in accordance with their respective Pro Rata Share, on the date of such prepayment (A) all outstanding principal plus accrued and unpaid interest, (B) the Final Payment, (C) the Prepayment Premium and
(D) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan Advances, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts. 

(e) Mandatory Prepayment Upon an Acceleration. If the Term Loan Advances are accelerated by Agent, following the occurrence and during
the continuance of an Event of Default, Borrower shall immediately pay to Agent, for the account of the Lenders in accordance with their respective Pro Rata Share, an amount equal to the sum of (i) all outstanding principal plus accrued and
unpaid interest with respect to the Term Loan Advances, (ii) the Final Payment, (iii) the Prepayment Premium and (iv) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan Advances,
including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts. 

  
 2 

 2.3 Payment of Interest on the Credit Extensions. 

(a) Interest Rate. Subject to Section 2.3(b), the principal amount outstanding under the Term Loan Advances shall accrue interest
at a floating per annum rate equal to the greater of (i) seven percent (7.0%) and (ii) three and three-quarters of one percent (3.75%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.3(d)
below. 
 (b) Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall bear
interest at a rate per annum which is five percent (5.0%) above the rate that is otherwise applicable thereto (the “Default Rate”) unless Agent otherwise elects from time to time in its sole discretion to impose a smaller increase.
Fees and expenses which are required to be paid by Borrower pursuant to the Loan Documents (including, without limitation, Lenders’ Expenses) but are not paid when due shall bear interest until paid at a rate equal to the highest rate
applicable to the Obligations. Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise
prejudice or limit any rights or remedies of Agent or any Lender. 
 (c) Adjustment to Interest Rate. Changes to the interest rate of
any Credit Extension based on changes to the Prime Rate shall be effective on the effective date of any change to the Prime Rate and to the extent of any such change. 

(d) Payment; Interest Computation. Interest is payable monthly in arrears on the Payment Date and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 1:00 p.m. Eastern time on any day shall be deemed received at the opening of business on the next
Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be
included in computing interest on such Credit Extension. 
 2.4 Fees. Borrower shall pay to Agent: 

(a) Final Payment. The Final Payment, when due hereunder, to be shared between the Lenders pursuant to their respective Term Loan
Commitment Percentage; 
 (b) Prepayment Premium. The Prepayment Premium, when due hereunder; and 

(c) Lenders’ Expenses. All Lenders’ Expenses (including reasonable and documented attorneys’ fees and expenses for
documentation and negotiation of this Agreement) incurred through and after the Effective Date, when due (or, if no stated due date, upon demand by Agent). 

Borrower has paid to Agent a deposit of Fifty Thousand Dollars ($50,000.00) (the “Good Faith Deposit”) to initiate
Agent’s due diligence review process. The Good Faith Deposit shall be utilized to pay Lenders’ Expenses, pursuant to Section 2.4(c) above, with any excess (if any) refunded to Borrower. 

Unless otherwise provided in this Agreement or in a separate writing by Agent, Borrower shall not be entitled to any credit, rebate, or
repayment of any fees earned by Agent or any Lender pursuant to this Agreement notwithstanding any termination of this Agreement or the suspension or termination of any Lender’s obligation to make loans and advances hereunder. Agent may deduct
amounts owing by Borrower under the clauses of this Section 2.4 pursuant to the terms of Section 2.5(e). Agent shall provide Borrower written notice of deductions made from the Designated Deposit Account pursuant to the terms of the
clauses of this Section 2.4. 

  
 3 

 2.5 Payments; Pro Rata Treatment; Application of Payments; Debit of Accounts.

 (a) All payments (including prepayments) to be made by Borrower under any Loan Document shall be made to Agent for the account of
Lenders, in immediately available funds in Dollars, without setoff or counterclaim, before 1:00 p.m. Eastern time on the date when due. Agent shall distribute such payments to Lenders in like funds as set forth in Section 2.6. Payments of
principal and/or interest received after 1:00 p.m. Eastern time are considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment shall be due the next Business Day,
and additional fees or interest, as applicable, shall continue to accrue until paid. 
 (b) Each borrowing by Borrower from Lenders
hereunder shall be made according to the respective Term Loan Commitment Percentage of the relevant Lenders. 
 (c) Except as otherwise
provided herein, each payment (including each prepayment) by Borrower on account of principal or interest on the Term Loan Advances shall be applied according to each Lender’s Pro Rata Share of the outstanding principal amount of the Term Loan
Advances. The amount of each principal prepayment of the Term Loan Advances shall be applied to reduce the then remaining installments of the Term Loan Advances based upon each Pro Rata Share of Term Loan Advances. 

(d) Agent has the exclusive right to determine the order and manner in which all payments with respect to the Obligations may be applied.
Borrower shall have no right to specify the order or the accounts to which Agent shall allocate or apply any payments required to be made by Borrower to Agent or otherwise received by Agent or any Lender under this Agreement when any such allocation
or application is not specified elsewhere in this Agreement. 
 (e) Agent may debit any of Borrower’s deposit accounts, including the
Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Agent or any Lender under the Loan Documents when due. These debits shall not constitute a set-off. 

(f) Unless Agent shall have been notified in writing by Borrower prior to the date of any payment due to be made by Borrower hereunder that
Borrower will not make such payment to Agent, Agent may assume that Borrower is making such payment, and Agent may, but shall not be required to, in reliance upon such assumption, make available to Lenders their respective Pro Rata Share of a
corresponding payment amount. If such payment is not made to Agent by Borrower within three (3) Business Days after such due date, Agent shall be entitled to recover, on demand, from each Lender to which any amount which was made available
pursuant to the preceding sentence, such amount with interest thereon at the rate per annum equal to the daily average Federal Funds Effective Rate. Nothing herein shall be deemed to limit the rights of Agent or any Lender against Borrower. 

2.6 Settlement Procedures. If Agent receives any payment for the account of Lenders on or prior to 1:00 p.m. (Eastern time) on
any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on such Business Day. If Agent receives any payment for the account of Lenders after 1:00 p.m. (Eastern time) on any Business Day, Agent
shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on the next Business Day. 

  
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 2.7 Withholding by Borrower. Payments received by Agent from Borrower under
this Agreement will be made free and clear of and without deduction for any and all present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed by any Governmental Authority (including any
interest, additions to tax or penalties applicable thereto). Specifically, however, if at any time any Governmental Authority, applicable law, regulation or international agreement requires Borrower to make any withholding or deduction from any such
payment or other sum payable hereunder to Agent, Borrower hereby covenants and agrees that the amount due from Borrower with respect to such payment or other sum payable hereunder will be increased to the extent necessary to ensure that, after the
making of such required withholding or deduction, Agent receives a net sum equal to the sum which it would have received had no withholding or deduction been required, and Borrower shall pay the full amount withheld or deducted to the relevant
Governmental Authority. Borrower will, upon request, furnish Agent with proof reasonably satisfactory to Agent indicating that Borrower has made such withholding payment; provided, however, that Borrower need not make any withholding payment if the
amount or validity of such withholding payment is contested in good faith by appropriate and timely proceedings and as to which payment in full is bonded or reserved against by Borrower. The agreements and obligations of Borrower contained in this
Section 2.7 shall survive the termination of this Agreement. 
 3 CONDITIONS OF LOANS 

3.1 Conditions Precedent to Initial Credit Extension. Each Lender’s obligation to make the initial Credit Extension
hereunder is subject to the condition precedent that Agent shall have received, in form and substance satisfactory to Agent and the Lenders, such documents, and completion of such other matters, as Agent may have reasonably requested, including,
without limitation: 
 (a) duly executed signatures to the Loan Documents; 

(b) duly executed signatures to the Warrants, together with a capitalization table; 

(c) stock power forms (5 originals) executed by Borrower with respect to the Securities Corp. and delivery of stock certificates evidencing
ownership interest in the Securities Corp.; 
 (d) the Operating Documents and (i) a long-form good standing certificate of Borrower
certified by the Secretary of State of Delaware and (ii) a good standing/foreign qualification certificate of Borrower certified by the Secretary of State (or equivalent agency) of Massachusetts, each dated as of a date no earlier than thirty
(30) days prior to the Effective Date; 
 (e) a secretary’s corporate borrowing certificate of Borrower with respect to
Borrower’s Operating Documents, incumbency and resolutions authorizing the execution and delivery of this Agreement and the other Loan Documents; 

(f) duly executed signatures to the completed Borrowing Resolutions for Borrower; 

(g) a subordination agreement by SHIONOGI & CO., LTD. in favor of Agent and the Lenders, together with the duly executed original
signatures thereto and copies of the underlying documents evidencing Borrower’s Indebtedness with such Person; 
 (h) certified copies,
dated as of a recent date, of Lien searches (including without limitation, UCC searches), as Agent may request, accompanied by written evidence (including any UCC termination statements and other Lien releases) that the Liens indicated in any such
financing statements or other filings either constitute Permitted Liens or have been or, in connection with the initial Credit Extension hereunder, will be terminated or released; 

  
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 (i) the Perfection Certificate of Borrower, together with the duly executed signature
thereto; 
 (j) a legal opinion (authority and enforceability) of Borrower’s counsel dated as of the Effective Date, together with the
duly executed signature thereto; 
 (k) evidence satisfactory to Agent that the insurance policies and endorsements required by
Section 6.5 hereof are in full force and effect, together with appropriate evidence showing lender loss payable and/or additional insured clauses or endorsements in favor of Agent; 

(l) evidence satisfactory to Agent that Borrower has received, on or after the Effective Date, at least One Hundred Million Dollars
($100,000,000.00) in net proceeds from the sale of Borrower’s Series D equity securities to investors acceptable to Agent in its sole discretion; and 

(m) payment of the fees and Lenders’ Expenses then due as specified in Section 2.4 hereof. 

3.2 Conditions Precedent to all Credit Extensions. Each Lender’s obligation to make each Credit Extension, including the
initial Credit Extension, is subject to the following conditions precedent: 
 (a) timely receipt by the Lenders of (i) an executed
Disbursement Letter; and (ii) an executed Payment/Advance Form and any materials and documents required by Section 3.4; 
 (b) the
representations and warranties in this Agreement shall be true, accurate, and complete in all material respects on the date of the Disbursement Letter (and the Payment/Advance Form) and on the Funding Date of each Credit Extension; provided,
however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties
expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date, and no Event of Default shall have occurred and be continuing or result from the Credit Extension. Each Credit Extension is
Borrower’s representation and warranty on that date that the representations and warranties in this Agreement are true, accurate, and complete in all material respects as of such date; provided, however, that such materiality qualifier shall
not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true,
accurate and complete in all material respects as of such date; and 
 (c) Agent and each Lender determine to its satisfaction that there
has not been any material impairment in the general affairs, management, results of operation, financial condition or the prospect of repayment of the Obligations when due, or any material adverse deviation by Borrower from the most recent business
plan of Borrower presented to and accepted by Agent and the Lenders. 
 3.3 Covenant to Deliver. Borrower agrees to deliver to
Agent and each Lender each item required to be delivered to Agent and each Lender under this Agreement as a condition precedent to any Credit Extension. Borrower expressly agrees that a Credit Extension made prior to the receipt by Agent and each
Lender of any such item shall not constitute a waiver by Agent or Lenders of Borrower’s obligation to deliver such item, and the making of any Credit Extension in the absence of a required item shall be in each Lender’s sole discretion.

  
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 3.4 Procedures for Borrowing. 

(a) Term Loan Advances. Subject to the prior satisfaction of all other applicable conditions to the making of a Credit Extension set
forth in this Agreement, to obtain a Credit Extension, Borrower shall notify Agent (which notice shall be irrevocable) by electronic mail, facsimile, or telephone by 1:00 p.m. Eastern time at least three (3) Business Days before the proposed
Funding Date of such Credit Extension. Together with any such electronic or facsimile notification, Borrower shall deliver to Agent by electronic mail or facsimile a completed Disbursement Letter (and Payment/Advance Form) executed by an Authorized
Signer. Agent may rely on any telephone notice given by a person whom Agent reasonably believes is an Authorized Signer. On the Funding Date, Agent shall credit the Credit Extensions to the Designated Deposit Account. Agent may make Credit
Extensions under this Agreement based on instructions from an Authorized Signer or without instructions if the Credit Extensions are necessary to meet Obligations which have become due. 

(b) Funding. In determining compliance with any condition hereunder to the making of a Credit Extension that, by its terms, must be
fulfilled to the satisfaction of a Lender, Agent may presume that such condition is satisfactory to such Lender unless Agent shall have received notice to the contrary from such Lender prior to the making of such Credit Extension. Unless Agent shall
have been notified in writing by any Lender prior to the date of any Credit Extension, that such Lender will not make the amount that would constitute its share of such borrowing available to Agent, Agent may assume that such Lender is making such
amount available to Agent, and Agent may, in reliance upon such assumption, make available to Borrower a corresponding amount. If such amount is not made available to Agent by the required time on the Funding Date therefor, such Lender shall pay to
Agent, on demand, such amount with interest thereon, at a rate equal to the greater of (i) the Federal Funds Effective Rate or (ii) a rate determined by Agent in accordance with banking industry rules on interbank compensation, for the
period until such Lender makes such amount immediately available to Agent. If such Lender’s share of such Credit Extension is not made available to Agent by such Lender within three (3) Business Days after such Funding Date, Agent shall
also be entitled to recover such amount with interest thereon at the rate per annum applicable to the Term Loan Advances, on demand, from Borrower. 

4 CREATION OF SECURITY INTEREST 

4.1 Grant of Security Interest. Borrower hereby grants Agent, for the ratable benefit of the Lenders, to secure the payment and
performance in full of all of the Obligations, a continuing security interest in, and pledges to Agent, for the ratable benefit of the Lenders, the Collateral, wherever located, whether now owned or hereafter acquired or arising, and all proceeds
and products thereof. For clarity, any reference to “Agent’s Lien” or any granting of collateral to Agent in this Agreement or any Loan Document means the Lien granted to Agent for the ratable benefit of the Lenders. 

Borrower acknowledges that it previously has entered, and/or may in the future enter, into Bank Services Agreements with SVB. Regardless of
the terms of any Bank Services Agreement, Borrower agrees that any amounts Borrower owes SVB thereunder shall be deemed to be Obligations hereunder and that it is the intent of Borrower and SVB to have all such Obligations secured by the first
priority perfected security interest in the Collateral granted herein (subject only to Permitted Liens that are permitted pursuant to the terms of this Agreement to have superior priority to Agent’s Lien in this Agreement), and by any and all
other security agreements, mortgages or other collateral granted to Agent by Borrower as security for the Obligations, now or in the future. 

  
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 If this Agreement is terminated, Agent’s Lien in the Collateral shall continue until
the Obligations (other than inchoate indemnity obligations) are repaid in full in cash. Upon payment in full in cash of the Obligations (other than inchoate indemnity obligations) and at such time as the Lenders’ obligation to make Credit
Extensions has terminated, Agent shall, at the sole cost and expense of Borrower, release its Liens in the Collateral and all rights therein shall revert to Borrower. In the event (x) all Obligations (other than inchoate indemnity obligations),
except for Bank Services, are satisfied in full, and (y) this Agreement is terminated, Agent shall terminate the security interest granted herein upon Borrower providing to SVB cash collateral acceptable to SVB in its good faith business
judgment for Bank Services, if any. In the event such Bank Services consist of outstanding Letters of Credit, Borrower shall provide to SVB cash collateral in an amount equal to (x) if such Letters of Credit are denominated in Dollars, then at
least one hundred five percent (105.0%); and (y) if such Letters of Credit are denominated in a Foreign Currency, then at least one hundred ten percent (110.0%), of the Dollar Equivalent of the face amount of all such Letters of Credit plus, in
each case, all interest, fees, and costs due or to become due in connection therewith (as estimated by SVB in its good faith business judgment), to secure all of the Obligations relating to such Letters of Credit. 

4.2 Priority of Security Interest. Borrower represents, warrants, and covenants that the security interests granted herein are
and shall at all times continue to be a first priority perfected security interests in the Collateral (subject only to Permitted Liens that are permitted pursuant to the terms of this Agreement to have superior priority to Agent’s Lien under
this Agreement). If Borrower shall acquire a commercial tort claim, Borrower shall promptly notify Agent in a writing signed by Borrower of the general details thereof and grant to Agent, for the ratable benefit of the Lenders, in such writing a
security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Agent. 

4.3 Authorization to File Financing Statements. Borrower hereby authorizes Agent, on behalf of the Lenders, to file financing
statements, without notice to Borrower, with all appropriate jurisdictions to perfect or protect Agent’s and Lenders’ interest or rights hereunder, including a notice that any disposition of the Collateral, by Borrower or any other Person,
shall be deemed to violate the rights of Agent under the Code. Such financing statements may indicate the Collateral as “all assets of the Debtor” or words of similar effect, or as being of an equal or lesser scope, or with greater detail,
all in Agent’s discretion. 
 5 REPRESENTATIONS AND WARRANTIES 

Borrower represents and warrants as follows: 

5.1 Due Organization, Authorization; Power and Authority. Borrower is duly existing and in good standing as a Registered
Organization in its jurisdiction of formation and is qualified and licensed to do business and is in good standing in any jurisdiction in which the conduct of its business or its ownership of property requires that it be qualified except where the
failure to do so could not reasonably be expected to have a material adverse effect on Borrower’s business. In connection with this Agreement, Borrower has delivered to Agent and each Lender a completed certificate signed by Borrower, entitled
“Perfection Certificate” (the “Perfection Certificate”). Borrower represents and warrants to Agent and each Lender that: (a) Borrower’s exact legal name is that indicated on the Perfection Certificate and on the
signature page hereof; (b) Borrower is an organization of the type and is organized in the jurisdiction set forth in the Perfection Certificate; (c) the Perfection Certificate accurately sets forth Borrower’s organizational
identification number or accurately states that Borrower has none; (d) the Perfection Certificate accurately sets forth Borrower’s place of business, or, if more than one, its chief executive office as well as Borrower’s mailing
address (if different than its chief executive office); (e) Borrower (and each of its predecessors) has not, in the past five (5) years, changed its jurisdiction of formation, organizational structure or type, or any organizational number
assigned by its jurisdiction; and (f) all other information set forth on the Perfection Certificate pertaining to Borrower and each of its Subsidiaries is accurate and complete (it being understood and agreed that Borrower may from time to time
update certain information 

  
 8 

 
in the Perfection Certificate after the Effective Date to the extent permitted by one or more specific provisions in this Agreement). If Borrower is not now a Registered Organization but later
becomes one, Borrower shall promptly notify Agent of such occurrence and provide Agent with Borrower’s organizational identification number. 

The execution, delivery and performance by Borrower of the Loan Documents to which it is a party have been duly authorized, and do not
(i) conflict with any of Borrower’s organizational documents, (ii) contravene, conflict with, constitute a default under or violate any material Requirement of Law, (iii) contravene, conflict or violate any applicable order,
writ, judgment, injunction, decree, determination or award of any Governmental Authority by which Borrower or any of its Subsidiaries or any of their property or assets may be bound or affected, (iv) require any action by, filing, registration,
or qualification with, or Governmental Approval from, any Governmental Authority (except such Governmental Approvals which have already been obtained and are in full force and effect, filings and registrations contemplated by this Agreement), or
(v) conflict with, contravene, constitute a default or breach under, or result in or permit the termination or acceleration of, any material agreement by which Borrower is bound. Borrower is not in default under any agreement to which it is a
party or by which it is bound in which the default could reasonably be expected to have a material adverse effect on Borrower’s business. 

5.2 Collateral. Borrower has good title to, rights in, and the power to transfer each item of the Collateral upon which it
purports to grant a Lien under this Agreement and other Loan Documents, free and clear of any and all Liens except Permitted Liens. Borrower has no Collateral Accounts at or with any bank or financial institution other than SVB or SVB’s
Affiliates except for the Collateral Accounts described in the Perfection Certificate and which Borrower has given Agent notice and taken such actions as are necessary to give Agent, for the ratable benefit of the Lenders, a perfected security
interest therein, pursuant to the terms of Section 6.6(c). The Accounts are bona fide, existing obligations of the Account Debtors. 

The Collateral is not in the possession of any third party bailee (such as a warehouse) except as otherwise provided in the Perfection
Certificate. None of the components of the Collateral (other than mobile equipment such as laptop computers in the possession of Borrower’s employees or agents) shall be maintained at locations other than as provided in the Perfection
Certificate or as permitted pursuant to Section 7.2. 
 All Inventory is in all material respects of good and marketable quality, free
from material defects. 
 Borrower is the sole owner of the Intellectual Property which it owns or purports to own except for
(a) nonexclusive licenses granted to its customers in the ordinary course of business, (b) over-the-counter software that is commercially available to the
public, and (c) material Intellectual Property licensed to Borrower and noted on the Perfection Certificate. Each Patent which it owns or purports to own and which is material to Borrower’s business is valid and enforceable, and no part of
the Intellectual Property which Borrower owns or purports to own and which is material to Borrower’s business has been judged invalid or unenforceable, in whole or in part. To Borrower’s knowledge, no claim has been made that any part of
the Intellectual Property violates the rights of any third party except to the extent such claim would not reasonably be expected to have a material adverse effect on Borrower’s business. 

Except as noted on the Perfection Certificate, Borrower is not a party to, nor is it bound by, any Restricted License. 

5.3 Litigation. There are no actions or proceedings pending or, to the knowledge of any Responsible Officer, threatened in
writing by or against Borrower or any of its Subsidiaries involving more than, individually or in the aggregate, Five Hundred Thousand Dollars ($500,000.00). 

  
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 5.4 Financial Statements; Financial Condition. All consolidated financial
statements for Borrower and any of its Subsidiaries delivered to Agent or any Lender by submission to the Financial Statement Repository or otherwise submitted to Agent or any Lender fairly present in all material respects Borrower’s
consolidated financial condition and Borrower’s consolidated results of operations. There has not been any material deterioration in Borrower’s consolidated financial condition since the date of the most recent financial statements
submitted to the Financial Statement Repository or otherwise submitted to Agent or any Lender. 
 5.5 Solvency. The fair
salable value of Borrower’s consolidated assets (including goodwill minus disposition costs) exceeds the fair value of Borrower’s liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement;
and Borrower is able to pay its debts (including trade debts) as they mature. 
 5.6 Regulatory Compliance. Borrower is not an
“investment company” or a company “controlled” by an “investment company” under the Investment Company Act of 1940, as amended. Borrower is not engaged as one of its important activities in extending credit for margin
stock (under Regulations X, T and U of the Federal Reserve Board of Governors). Borrower (a) has complied in all material respects with all Requirements of Law, and (b) has not violated any Requirements of Law the violation of which could
reasonably be expected to have a material adverse effect on its business. None of Borrower’s or any of its Subsidiaries’ properties or assets has been used by Borrower or any Subsidiary or, to Borrower’s knowledge, by previous
Persons, in disposing, producing, storing, treating, or transporting any hazardous substance other than legally. Borrower and each of its Subsidiaries have obtained all consents, approvals and authorizations of, made all declarations or filings
with, and given all notices to, all Governmental Authorities that are necessary to continue their respective businesses as currently conducted. 

5.7 Subsidiaries; Investments. Borrower does not own any stock, partnership, or other ownership interest or other equity
securities except for Permitted Investments. 
 5.8 Tax Returns and Payments; Pension Contributions. Borrower has timely filed
all required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except (a) to the extent such taxes are being contested in good faith by
appropriate proceedings promptly instituted and diligently conducted, so long as such reserve or other appropriate provision, if any, as shall be required in conformity with GAAP shall have been made therefor, or (b) if such taxes, assessments,
deposits and contributions do not, individually or in the aggregate, exceed Ten Thousand Dollars ($10,000.00). 
 To the extent Borrower
defers payment of any contested taxes, Borrower shall (i) notify Agent in writing of the commencement of, and any material development in, the proceedings, and (ii) post bonds or take any other steps required to prevent the Governmental
Authority levying such contested taxes from obtaining a Lien upon any of the Collateral that is other than a “Permitted Lien.” Borrower is unaware of any claims or adjustments proposed for any of Borrower’s prior tax years which could
result in additional taxes becoming due and payable by Borrower in excess of Ten Thousand Dollars ($10,000.00). Borrower has paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with
their terms, and Borrower has not withdrawn from participation in, and has not permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected to result
in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency. 

5.9 Use of Proceeds. Borrower shall use the proceeds of the Credit Extensions as working capital and to fund its general
business requirements and not for personal, family, household or agricultural purposes. 

  
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 5.10 Full Disclosure. No written representation, warranty or other statement
of Borrower in any report, certificate or written statement submitted to the Financial Statement Repository or otherwise given to Agent or any Lender in connection with the Loan Documents, or the transactions contemplated thereby, as of the date
such representation, warranty, or other statement was made, taken together with all such written reports, written certificates and written statements submitted to the Financial Statement Repository or otherwise given to Agent or any Lender, contains
any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained in the reports, certificates or statements, in light of the circumstances in which they were made, not misleading (it being
recognized by Agent and each Lender that the projections and forecasts provided by Borrower in good faith and based upon reasonable assumptions are not viewed as facts and that actual results during the period or periods covered by such projections
and forecasts may differ from the projected or forecasted results). 
 5.11 Definition of “Knowledge.” For purposes
of the Loan Documents, whenever a representation or warranty is made to Borrower’s knowledge or awareness, to the “best of” Borrower’s knowledge, or with a similar qualification, knowledge or awareness means the actual knowledge,
after reasonable investigation, of any Responsible Officer. 
 6 AFFIRMATIVE COVENANTS 

Borrower shall do all of the following: 

6.1 Government Compliance. 

(a) Maintain its and (except as permitted by Section 7.3) all its Subsidiaries’ legal existence and good standing in their
respective jurisdictions of formation and maintain qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on Borrower’s business or operations. Borrower shall comply,
and have each Subsidiary comply, in all material respects, with all laws, ordinances and regulations to which it is subject. 
 (b) Obtain
all of the Governmental Approvals necessary for the performance by Borrower of its obligations under the Loan Documents to which it is a party and the grant of a security interest to Agent, for the ratable benefit of the Lenders, in all of its
property. Borrower shall promptly provide copies of any such obtained Governmental Approvals to Agent. 
 6.2 Financial
Statements, Reports. Provide Agent and each Lender with the following by posting to the Financial Statement Repository: 
 (a)
Monthly Financial Statements. As soon as available, but no later than thirty (30) days after the last day of each month, a company prepared consolidated balance sheet, and income statement covering Borrower’s consolidated operations
for such month in a form acceptable to Agent (the “Monthly Financial Statements”); 
 (b) Monthly Compliance
Statement. Within thirty (30) days after the last day of each month and together with the Monthly Financial Statements, a completed Compliance Statement confirming that, as of the end of such month, Borrower was in compliance with all of
the terms and conditions of this Agreement, and setting forth calculations showing compliance with the financial covenants set forth in this Agreement and such other information as Agent or the Lenders may reasonably request; 

  
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 (c) Board Projections. As soon as available, at least annually, and in any event no
later than sixty (60) days after the last day of Borrower’s fiscal year, and contemporaneously with any Board approved updates or changes thereto, annual Board-approved operating budget and financial projections, in a form reasonably
acceptable to Agent; 
 (d) Annual Audited Financial Statements. As soon as available, but no later than one hundred eighty
(180) days after the last day of Borrower’s fiscal year, audited consolidated financial statements prepared under GAAP, consistently applied, together with an unqualified opinion on the financial statements from an independent certified
public accounting firm reasonably acceptable to Agent; 
 (e) Other Statements. Within five (5) days of delivery, copies of all
statements, reports and notices made available to Borrower’s security holders or to any holders of Subordinated Debt; 
 (f) SEC
Filings. In the event that Borrower becomes subject to the reporting requirements under the Exchange Act, within five (5) days of filing, copies of all periodic and other reports, proxy statements and other materials filed by Borrower with
the SEC, any Governmental Authority succeeding to any or all of the functions of the SEC or with any national securities exchange, or distributed to its shareholders, as the case may be. Documents required to be delivered pursuant to the terms
hereof (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date on which Borrower posts such documents, or
provides a link thereto, on Borrower’s website on the internet at Borrower’s website address; provided, however, Borrower shall promptly notify Agent and the Lenders in writing (which may be by electronic mail) of the posting of any such
documents; 
 (g) Legal Action Notice. A prompt report of any legal actions pending or threatened in writing against Borrower or any
of its Subsidiaries that could result in damages or costs to Borrower or any of its Subsidiaries of, individually or in the aggregate, Five Hundred Thousand Dollars ($500,000.00) or more; 

(h) Beneficial Ownership Information. Prompt written notice of any changes to the beneficial ownership information set out in
Section 14 of the Perfection Certificate. Borrower understands and acknowledges that each Lender relies on such true, accurate and up-to-date beneficial ownership
information to meet such Lender’s regulatory obligations to obtain, verify and record information about the beneficial owners of its legal entity customers; and 

(i) Other Financial Information. Other financial information reasonably requested by Agent or any Lender. 

Any submission by Borrower of a Compliance Statement, or any other financial statement submitted to the Financial Statement Repository pursuant to this
Section 6.2 or otherwise submitted to Agent or either Lender shall be deemed to be a representation by Borrower that (a) as of the date of such Compliance Statement, or other financial statement, the information and calculations set forth
therein are true, accurate and correct, (b) as of the end of the compliance period set forth in such submission, Borrower is in complete compliance with all required covenants except as noted in such Compliance Statement or other financial
statement, as applicable; (c) as of the date of such submission, no Events of Default have occurred or are continuing; (d) all representations and warranties other than any representations or warranties that are made as of a specific date
in Article 5 remain true and correct in all material respects as of the date of such submission except as noted in such Compliance Statement, or other financial statement, as applicable; (e) as of the date of such submission, Borrower and each
of its Subsidiaries has timely filed all required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except as otherwise permitted pursuant to
the terms of Section 5.8; and (f) as of the date of such submission, no Liens have been levied or claims made against Borrower or any of its Subsidiaries relating to unpaid employee payroll or benefits of which Borrower has not previously
provided written notification to Agent or either Lender. 

  
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 6.3 Taxes; Pensions. Timely file and require each of its Subsidiaries to
timely file, all required tax returns and reports and timely pay, and require each of its Subsidiaries to timely pay, all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower and each of its Subsidiaries,
except for deferred payment of any taxes contested pursuant to the terms of Section 5.8 hereof, and shall deliver to Agent, on demand, appropriate certificates attesting to such payments, and pay all amounts necessary to fund all present
pension, profit sharing and deferred compensation plans in accordance with their terms. 
 6.4 Inventory; Returns. Keep all
Inventory in good and marketable condition, free from material defects. Returns and allowances between Borrower and its Account Debtors shall follow Borrower’s customary practices as they exist at the Effective Date. Borrower must promptly
notify Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Five Hundred Thousand Dollars ($500,000.00). 

6.5 Insurance. 

(a) Keep its business and the Collateral insured for risks and in amounts standard for companies in Borrower’s industry and location and
as Agent may reasonably request. Insurance policies shall be in a form, with financially sound and reputable insurance companies that are not Affiliates of Borrower, and in amounts that are satisfactory to Agent. All property policies shall have a
lender’s loss payable endorsement showing Agent as the sole lender loss payee. All liability policies shall show, or have endorsements showing, Agent as an additional insured. Agent shall be named as lender loss payee and/or additional insured
with respect to any such insurance providing coverage in respect of any Collateral. 
 (b) Ensure that proceeds payable under any property
policy are, at Agent’s option, payable to Agent for the ratable benefit of the Lenders on account of the Obligations. Notwithstanding the foregoing, (i) so long as no Event of Default has occurred and is continuing, Borrower shall have the
option of applying the proceeds of any casualty policy up to Two Hundred Fifty Thousand Dollars ($250,000.00) with respect to any loss, but not exceeding Five Hundred Thousand Dollars ($500,000.00) in the aggregate for all losses under all casualty
policies in any one year, toward the replacement or repair of destroyed or damaged property; provided that any such replaced or repaired property (A) shall be of equal or like value as the replaced or repaired Collateral and (B) shall be
deemed Collateral in which Agent has been granted a first priority security interest (subject only to Permitted Liens that are permitted pursuant to the terms of this Agreement to have superior priority to Agent’s Lien under this Agreement),
and (ii) after the occurrence and during the continuance of an Event of Default, all proceeds payable under such casualty policy shall, at the option of Agent, be payable to Agent for the ratable benefit of the Lenders on account of the
Obligations. 
 (c) At Agent’s request, Borrower shall deliver certified copies of insurance policies and evidence of all premium
payments. Each provider of any such insurance required under this Section 6.5 shall agree, by endorsement upon the policy or policies issued by it or by independent instruments furnished to Agent, that it will give Agent thirty (30) days
prior written notice before any such policy or policies shall be materially altered or canceled. If Borrower fails to obtain insurance as required under this Section 6.5 or to pay any amount or furnish any required proof of payment to third
persons and Agent, Agent may make all or part of such payment or obtain such insurance policies required in this Section 6.5, and take any action under the policies Agent deems prudent. 

  
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 6.6 Operating Accounts. 

(a) Maintain its and all of its Subsidiaries’ (other than the Securities Corp.) operating and other deposit accounts and excess cash with
SVB and SVB’s Affiliates; provided, however, that (i) Borrower may maintain its account with Wells Fargo Advisors existing on the Effective Date and disclosed in the Perfection Certificate (the “Wells Fargo Account”), so
long as the aggregate amount of funds in the Wells Fargo Account does not exceed One Hundred Thousand Dollars ($100,000.00) at any time and (ii) at all times from and after the Effective Date, Borrower (individually and not on a consolidated
basis) shall at all times have on deposit in an operating account in the name of Borrower maintained with SVB, cash in an amount equal to the lesser of (A) one hundred percent (100.0%) of the Dollar value of all of Borrower’s consolidated
cash, including any Subsidiaries’, Affiliates’, or related entities’ cash, in the aggregate at all financial institutions, and (B) one hundred five percent (105.0%) of the then-outstanding Obligations of Borrower to the Lenders.
SVB may restrict withdrawals or transfers by or on behalf of Borrower that would violate this Section 6.6(a), regardless of whether an Event of Default exists at such time. 

(b) In addition to the foregoing, Borrower and any Subsidiary of Borrower shall conduct all of its business credit cards and letters of credit
banking exclusively with SVB; provided, however, that Borrower may maintain credit cards with financial institutions other than Bank pursuant to the terms of clause (g) of Permitted Indebtedness. 

(c) Provide Agent five (5) days prior written notice before establishing any Collateral Account at or with any bank or financial
institution other than SVB or SVB’s Affiliates. In addition, for each account that the Lenders in their sole discretion permit Borrower at any time to open or maintain (other than accounts at SVB), Borrower shall cause the applicable bank or
financial institution (other than SVB) at or with which any such Collateral Account is opened or maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect Agent’s
Lien in such Collateral Account in accordance with the terms hereunder, which Control Agreement may not be terminated without the prior written consent of the Lenders. The provisions of the previous sentence shall not apply to (i) deposit
accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Agent and the Lenders by Borrower as such or (ii) the Wells Fargo Account.

 6.7 Financial Covenant—Minimum EndeavorRX Revenue. Maintain at all times, to be tested as of the last day of each
calendar quarter, EndeavorRx Revenue for the three (3) month period ending on the last day of such calendar quarter in an amount equal to at least the amount set forth in the table below corresponding to such period: 

 

					
	 Quarter Ending
	  	EndeavorRX Revenue	 
	 June 30, 2021
	  	$	268,450.00	 
	 September 30, 2021
	  	$	898,275.00	 
	 December 31, 2021
	  	$	2,106,300.00	 
	 March 31, 2022
	  	$	4,206,285.00	 
	 June 30, 2022
	  	$	6,231,108.00	 
	 September 30, 2022
	  	$	8,312,740.00	 
	 December 31, 2022
	  	$	10,820,696.00	 

  
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	 March 31, 2023
	  	$	13,669,909.00	 
	 June 30, 2023
	  	$	17,355,925.00	 
	 September 30, 2023
	  	$	21,411,268.00	 
	 December 31, 2023
	  	$	25,873,779.00	 

 With respect to the any calendar quarter ending after December 31, 2023, the Lenders will set the
EndeavorRX Revenue levels for each such calendar quarter in their sole discretion after good faith efforts to consult with Borrower, based upon, among other factors, budgets, sales projections, operating plans and other financial information with
respect to Borrower that the Lenders deem relevant, including, without limitation Borrower’s annual financial projections approved by the Board. With respect thereto: 

(i) for the 2024 calendar year, Borrower’s failure to agree in writing (which agreement shall be set forth in a written
amendment to this Agreement) on or before December 31, 2023 to any such covenant levels proposed by Lenders with respect to the 2024 calendar year, shall result in an immediate Event of Default for which there shall be no grace or cure period;
and 
 (ii) for the 2025 calendar year, Borrower’s failure to agree in writing (which agreement shall be set forth in a
written amendment to this Agreement) on or before December 31, 2024 to any such covenant levels proposed by the Lenders with respect to the 2025 calendar year, shall result in an immediate Event of Default for which there shall be no grace or
cure period. 
 Notwithstanding the foregoing, the financial covenant set forth in this Section 6.7 shall not be tested for any
calendar quarter (such quarter, a “Tested Quarter”) (a) with respect to which Borrower maintained the Minimum Cash Balance at all times during the period commencing on the first day of such Tested Quarter through and including the
date that is thirty (30) days after the last day of such Tested Quarter, or (b) ending prior to the Funding Date of the first Term B Loan Advance. 

6.8 Protection of Intellectual Property Rights. 

(a) (i) Protect, defend and maintain the validity and enforceability of its Intellectual Property; (ii) promptly advise Agent in writing
of material infringements or any other event that could reasonably be expected to materially and adversely affect the value of its Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s business to be
abandoned, forfeited or dedicated to the public without Agent’s written consent. 
 (b) Provide written notice to Agent within ten
(10) days of entering or becoming bound by any Restricted License (other than over-the-counter software that is commercially available to the public). Borrower
shall take such steps as Agent reasonably requests to obtain the consent of, or waiver by, any person whose consent or waiver is necessary for (i) any Restricted License to be deemed “Collateral” and for Agent to have a security
interest in it that might otherwise be restricted or prohibited by law or by the terms of any such Restricted License, whether now existing or entered into in the future, and (ii) Agent to have the ability in the event of a liquidation of any
Collateral to dispose of such Collateral in accordance with Agent’s and the Lenders’ rights and remedies under this Agreement and the other Loan Documents. 

  
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 6.9 Litigation Cooperation. From the date hereof and continuing through the
termination of this Agreement, make available to Agent, without expense to Agent or any Lender and upon one (1) Business Day’s notice (provided no notice is required if an Event of Default has occurred and is continuing), Borrower and its
officers, employees and agents and Borrower’s books and records, to the extent that Agent and/or the Lenders may deem them reasonably necessary to prosecute or defend any third-party suit or proceeding instituted by or against Agent and/or any
Lender with respect to any Collateral or relating to Borrower. 
 6.10 Access to Collateral; Books and Records. Allow Agent or
its agents, at reasonable times, on five (5) Business Days’ notice (provided no notice is required if an Event of Default has occurred and is continuing), to inspect the Collateral and audit and copy Borrower’s Books. Such inspections
or audits shall be conducted no more often than once every twelve (12) months unless an Event of Default has occurred and is continuing in which case such inspections and audits shall occur as often as Agent shall determine is necessary. The
foregoing inspections and audits shall be at Borrower’s expense and the charge therefor shall be One Thousand Dollars ($1,000.00) per person per day (or such higher amount as shall represent Agent’s then-current standard charge for the
same), plus reasonable out-of-pocket expenses. In the event Borrower and Agent schedule an audit more than eight (8) days in advance, and Borrower cancels or
reschedules the audit with less than eight (8) days written notice to Agent, then (without limiting any of Agent’s or any Lender’s rights or remedies) Borrower shall pay Agent a fee of Two Thousand Dollars ($2,000.00) plus any out-of-pocket expenses incurred by Agent to compensate Agent for the anticipated costs and expenses of the cancellation or rescheduling. 

6.11 Further Assurances. Execute any further instruments and take further action as Agent and the Lenders reasonably request to
perfect or continue Agent’s Lien in the Collateral or to effect the purposes of this Agreement. Deliver to Agent and the Lenders, within five (5) days after the same are sent or received, copies of all correspondence, reports, documents
and other filings with any Governmental Authority regarding compliance with or maintenance of Governmental Approvals or Requirements of Law or that could reasonably be expected to have a material effect on any of the Governmental Approvals or
otherwise on the operations of Borrower or any of its Subsidiaries. 
 7 NEGATIVE COVENANTS 

Borrower shall not do any of the following without the prior written consent of the Lenders: 

7.1 Dispositions. Convey, sell, lease, transfer, assign, or otherwise dispose of (including, without limitation, pursuant to a
Division) (collectively, “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a) of Inventory in the ordinary course of business; (b) of worn- out,
obsolete or surplus Equipment that is, in the reasonable judgment of Borrower, no longer economically practicable to maintain or useful in the ordinary course of business of Borrower; (c) by a Subsidiary to Borrower; (d) consisting of
Permitted Liens and Permitted Investments; (e) consisting of the sale or issuance of any stock of Borrower permitted under Section 7.2 of this Agreement; (f) consisting of Borrower’s use or transfer of money or Cash Equivalents
in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents; and (g) non-exclusive licenses for the use of the property of Borrower or its Subsidiaries in the ordinary
course of business and licenses that could not result in a legal transfer of title of the licensed property but that may be exclusive in respects other than territory and that may be exclusive as to territory only as to discrete geographical areas
outside of the United States. 
 7.2 Changes in Business, Management, Control, or Business Locations. (a) Engage in or
permit any of its Subsidiaries to engage in any business other than the businesses currently engaged in by Borrower and such Subsidiary, as applicable, or reasonably related thereto; (b) liquidate or dissolve; (c) fail to provide notice to
Agent and Lenders of any Key Person departing from or ceasing to be employed by Borrower within five (5) Business Days after such Key Person’s departure from Borrower; or (d) permit or suffer any Change in Control. 

  
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 Borrower shall not, without at least thirty (30) days prior written notice to Agent:
(1) add any new offices or business locations, including warehouses (unless each such new office or business location contains less than One Hundred Thousand Dollars ($100,000.00) in Borrower’s assets or property) or deliver any portion of
the Collateral valued, individually or in the aggregate, in excess of Five Hundred Thousand Dollars ($500,000.00) to a bailee at a location other than to a bailee and at a location already disclosed in the Perfection Certificate, (2) change its
jurisdiction of organization, (3) change its organizational structure or type, (4) change its legal name, or (5) change any organizational number (if any) assigned by its jurisdiction of organization. If Borrower intends to add any
new offices or business locations, including warehouses, containing in excess of Five Hundred Thousand Dollars ($500,000.00) of Borrower’s assets or property, then Borrower will first receive the written consent of Agent, and the landlord of
any such new offices or business locations, including warehouses, shall execute and deliver a landlord consent in form and substance reasonably satisfactory to Agent. If Borrower intends to deliver any portion of the Collateral valued, individually
or in the aggregate, in excess of Five Hundred Thousand Dollars ($500,000.00) to a bailee, and Agent and such bailee are not already parties to a bailee agreement governing both the Collateral and the location to which Borrower intends to deliver
the Collateral, then Borrower will first receive the written consent of Agent, and such bailee shall execute and deliver a bailee agreement in form and substance reasonably satisfactory to Agent. 

7.3 Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other
Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person (including, without limitation, by the formation of any Subsidiary or pursuant to a Division), except for
Permitted Acquisitions. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower. In the event that Borrower sends a request to the Lenders requesting the Lenders’ consent to a proposed acquisition that is not a Permitted
Acquisition (which request shall specifically state that such request is being made pursuant to Section 7.3 of this Agreement), if each Lender does not respond to such request within ten (10) Business Days after delivery to such Lender of
summary information (including (i) any final term sheet, letter of intent, memorandum of understanding or similar summary of the principal terms of the proposed acquisition, (ii) the most recent draft purchase agreement or acquisition
agreement for the proposed acquisition, (iii) updated pro forma financial projections (on a quarterly basis) for the remainder of Borrower’s fiscal year and (iv) any other information requested by the Lenders with respect to such
transaction) regarding the proposed acquisition, then such request for consent shall be deemed to be denied, and such proposed acquisition shall not be permitted hereunder. 

7.4 Indebtedness. Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than
Permitted Indebtedness. 
 7.5 Encumbrance. Create, incur, allow, or suffer any Lien on any of its property, or assign or
convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, permit any Collateral not to be subject to the first priority security interest granted herein, or enter
into any agreement, document, instrument or other arrangement (except with or in favor of Agent, for the ratable benefit of the Lenders) with any Person which directly or indirectly prohibits or has the effect of prohibiting Borrower or any
Subsidiary from assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering any of Borrower’s or any Subsidiary’s Intellectual Property, except as is otherwise permitted in Section 7.1 hereof and the
definition of “Permitted Liens” herein. 
 7.6 Maintenance of Collateral Accounts. Maintain any Collateral Account
except pursuant to the terms of Section 6.6(c) hereof. 

  
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 7.7 Distributions; Investments. (a) Pay any dividends or make any
distribution or payment or redeem, retire or purchase any capital stock, provided that Borrower may (i) convert any of its convertible securities into other securities pursuant to the terms of such convertible securities or otherwise in
exchange thereof, (ii) pay dividends solely in common stock, and (iii) repurchase the stock of former employees or consultants pursuant to stock repurchase agreements so long as an Event of Default does not exist at the time of any such
repurchase and would not exist after giving effect to any such repurchase, provided that the aggregate amount of all such repurchases does not exceed One Hundred Thousand Dollars ($100,000.00) per fiscal year; or (b) directly or indirectly make
any Investment (including, without limitation, by the formation of any Subsidiary) other than Permitted Investments, or permit any of its Subsidiaries to do so. 

7.8 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any material transaction with any
Affiliate of Borrower, except for (a) transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s length transaction
with a non-affiliated Person and (b) equity financings of Borrower that do not result in a Change in Control. 

7.9 Subordinated Debt. (a) Make or permit any payment on any Subordinated Debt, except under the terms of the
subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would increase the amount thereof, provide for earlier or
greater principal, interest, or other payments thereon, or adversely affect the subordination thereof to Obligations owed to Agent and the Lenders. 

7.10 Compliance. Become an “investment company” or a company controlled by an “investment company”, under
the Investment Company Act of 1940, as amended, or undertake as one of its important activities extending credit to purchase or carry margin stock (as defined in Regulation U of the Board of Governors of the Federal Reserve System), or use the
proceeds of any Credit Extension for that purpose; fail to (a) meet the minimum funding requirements of ERISA, (b) prevent a Reportable Event or Prohibited Transaction, as defined in ERISA, from occurring, or (c) comply with the
Federal Fair Labor Standards Act, the failure of any of the conditions described in clauses (a) through (c) which could reasonably be expected to have a material adverse effect on Borrower’s business; or violate any other law or
regulation, if the violation could reasonably be expected to have a material adverse effect on Borrower’s business, or permit any of its Subsidiaries to do so; withdraw or permit any Subsidiary to withdraw from participation in, permit partial
or complete termination of, or permit the occurrence of any other event with respect to, any present pension, profit sharing and deferred compensation plan which could reasonably be expected to result in any liability of Borrower, including any
liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency. 
 8 EVENTS OF DEFAULT

 Any one of the following shall constitute an event of default (an “Event of Default”) under this Agreement: 

8.1 Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension when due, or
(b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day cure period shall not apply to payments due on the Term Loan Maturity Date). During the cure period,
the failure to make or pay any payment specified under clause (b) hereunder is not an Event of Default (but no Credit Extension will be made during the cure period); 

  
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 8.2 Covenant Default. 

(a) Borrower fails or neglects to perform any obligation in Sections 6.2, 6.3, 6.4, 6.5, 6.6, 6.7, 6.8, or 6.10 or violates any covenant in
Section 7; or 
 (b) Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or
agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the
default within ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within such ten
(10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such
reasonable time period the failure to cure the default shall not be deemed an Event of Default (but no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not apply, among other things, to
financial covenants or any other covenants set forth in clause (a) above; 
 8.3 Material Adverse Change. A Material
Adverse Change occurs; 
 8.4 Attachment; Levy; Restraint on Business. 

(a) (i) The service of process seeking to attach, by trustee or similar process, any funds of Borrower or of any entity under the control of
Borrower (including a Subsidiary), or (ii) a notice of lien or levy is filed against any of Borrower’s assets by any Governmental Authority, and the same under subclauses (i) and (ii) hereof are not, within ten (10) days after
the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Credit Extensions shall be made during any ten (10) day cure period; or 

(b) (i) any material portion of Borrower’s assets is attached, seized, levied on, or comes into possession of a trustee or receiver, or
(ii) any court order enjoins, restrains, or prevents Borrower from conducting all or any material part of its business; 
 8.5
Insolvency. (a) Borrower or any of its Subsidiaries is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower or any of its Subsidiaries begins an Insolvency Proceeding; or
(c) an Insolvency Proceeding is begun against Borrower or any of its Subsidiaries and is not dismissed or stayed within forty-five (45) days (but no Credit Extensions shall be made while any of the conditions described in clause
(a) exist and/or until any Insolvency Proceeding is dismissed); 
 8.6 Other Agreements. There is, under any agreement to
which Borrower is a party with a third party or parties, (a) any default resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount individually or in the aggregate
in excess of Five Hundred Thousand Dollars ($500,000.00); or (b) any breach or default by Borrower, the result of which could have a material adverse effect on Borrower’s business; 

8.7 Judgments; Penalties. One or more fines, penalties or final judgments, orders or decrees for the payment of money in an
amount, individually or in the aggregate, of at least Five Hundred Thousand Dollars ($500,000.00) (not covered by independent third-party insurance as to which liability has been accepted by such insurance carrier) shall be rendered against Borrower
by any Governmental Authority, and the same are not, within ten (10) days after the entry, assessment or issuance thereof, discharged, satisfied, or paid, or after execution thereof, stayed or bonded pending appeal, or such judgments are not
discharged prior to the expiration of any such stay (provided that no Credit Extensions will be made prior to the satisfaction, payment, discharge, stay, or bonding of such fine, penalty, judgment, order or decree); 

  
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 8.8 Misrepresentations. Borrower or any Person acting for Borrower makes any
representation, warranty, or other statement now or later in this Agreement, any Loan Document or in any writing delivered to Agent or any Lender or to induce Agent or any Lender to enter this Agreement or any Loan Document, and such representation,
warranty, or other statement is incorrect in any material respect when made; 
 8.9 Subordinated Debt. Any document,
instrument, or agreement evidencing any Subordinated Debt shall for any reason be revoked or invalidated or otherwise cease to be in full force and effect, any Person shall be in breach thereof or contest in any manner the validity or enforceability
thereof or deny that it has any further liability or obligation thereunder, or the Obligations shall for any reason be subordinated or shall not have the priority contemplated by this Agreement or any applicable subordination or intercreditor
agreement; or 
 8.10 Governmental Approvals. Any Governmental Approval shall have been (a) revoked, rescinded,
suspended, modified in an adverse manner or not renewed in the ordinary course for a full term or (b) subject to any decision by a Governmental Authority that designates a hearing with respect to any applications for renewal of any of such
Governmental Approval or that could result in the Governmental Authority taking any of the actions described in clause (a) above, and such decision or such revocation, rescission, suspension, modification or
non-renewal (i) causes, or could reasonably be expected to cause, a Material Adverse Change, or (ii) adversely affects the legal qualifications of Borrower or any of its Subsidiaries to hold such
Governmental Approval in any applicable jurisdiction and such revocation, rescission, suspension, modification or non-renewal could reasonably be expected to affect the status of or legal qualifications of
Borrower or any of its Subsidiaries to hold any Governmental Approval in any other jurisdiction. 
 9 RIGHTS AND REMEDIES 

9.1 Rights and Remedies. Upon the occurrence and during the continuance of an Event of Default, Agent, in accordance with the
Lender Intercreditor Agreement or, if such rights and remedies are not addressed in the Lender Intercreditor Agreement, as directed by Lenders having a majority of the Obligations, may, without notice or demand, do any or all of the following, to
the extent not prohibited by applicable law: 
 (a) declare all Obligations immediately due and payable (but if an Event of Default described
in Section 8.5 occurs all Obligations are immediately due and payable without any action by Agent or any Lender); 
 (b) stop advancing
money or extending credit for Borrower’s benefit under this Agreement or under any other agreement among Borrower, Agent, and/or any Lenders; 

(c) demand that Borrower (i) deposit cash with SVB in an amount equal to at least (A) one hundred five percent (105.0%) of the
Dollar Equivalent of the aggregate face amount of all Letters of Credit denominated in Dollars remaining undrawn, and (B) one hundred ten percent (110.0%) of the Dollar Equivalent of the aggregate face amount of all Letters of Credit
denominated in a Foreign Currency remaining undrawn (plus, in each case, all interest, fees, and costs due or to become due in connection therewith (as estimated by SVB in its good faith business judgment)), to secure all of the Obligations relating
to such Letters of Credit, as collateral security for the repayment of any future drawings under such Letters of Credit, and Borrower shall forthwith deposit and pay such amounts, and (ii) pay in advance all letter of credit fees scheduled to
be paid or payable over the remaining term of any Letters of Credit; 

  
 20 

 (d) terminate any FX Contracts; 

(e) verify the amount of, demand payment of and performance under, and collect any Accounts and General Intangibles, settle or adjust disputes
and claims directly with Account Debtors for amounts on terms and in any order that Agent and/or the Lenders consider advisable, and notify any Person owing Borrower money of Agent’s security interest in such funds. Borrower shall collect all
payments in trust for Agent, for the ratable benefit of the Lenders and, if requested by Agent, immediately deliver the payments to Agent, for the ratable benefit of the Lenders in the form received from the Account Debtor, with proper endorsements
for deposit; 
 (f) make any payments and do any acts Agent or any Lender considers necessary or reasonable to protect the Collateral and/or
its security interest in the Collateral. Borrower shall assemble the Collateral if Agent requests and make it available as Agent designates at any location that is reasonably convenient to Agent and Borrower. Agent may peaceably enter premises where
the Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise any Lien which appears to be prior or superior to its security interest or charges and pay all expenses incurred.
Borrower grants Agent a license to enter and occupy any of its premises, without charge by Borrower, to exercise any of Agent’s rights or remedies; 

(g) apply to the Obligations then due (i) any balances and deposits of Borrower it holds, or (ii) any amount held by Agent owing to
or for the credit or the account of Borrower; 
 (h) ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise
for sale, and sell the Collateral. Agent, for the benefit of the Lenders is hereby granted a non-exclusive, royalty-free license or other right to use, without charge, Borrower’s labels, Patents,
Copyrights, mask works, rights of use of any name, trade secrets, trade names, Trademarks, and advertising matter, or any similar property as it pertains to the Collateral, in completing production of, advertising for sale, and selling any
Collateral and, in connection with Agent’s exercise of its rights under this Section 9.1, Borrower’s rights under all licenses and all franchise agreements inure to Agent, for the ratable benefit of the Lenders; 

(i) place a “hold” on any account maintained with Agent or Lenders and/or deliver a notice of exclusive control, any entitlement
order, or other directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral; 

(j) demand and receive possession of Borrower’s Books; and 

(k) exercise all rights and remedies available to Agent and the Lenders under the Loan Documents or at law or equity, including all remedies
provided under the Code (including disposal of the Collateral pursuant to the terms thereof). 
 9.2 Power of Attorney.
Borrower hereby irrevocably appoints Agent, for the benefit of the Lenders, as its lawful attorney-in-fact, exercisable upon the occurrence and during the continuance of
an Event of Default, to: (a) endorse Borrower’s name on any checks or other forms of payment or security; (b) sign Borrower’s name on any invoice or bill of lading for any Account or drafts against Account Debtors;
(c) settle and adjust disputes and claims about the Accounts directly with Account Debtors, for amounts and on terms Agent determines reasonable; (d) make, settle, and adjust all claims under Borrower’s insurance policies;
(e) pay, contest or settle any Lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to terminate or

  
 21 

 
discharge the same; and (f) transfer the Collateral into the name of Agent or a third party as the Code permits. Borrower hereby appoints Agent as its lawful
attorney-in-fact to sign Borrower’s name on any documents necessary to perfect or continue the perfection of Agent’s security interest in the Collateral
regardless of whether an Event of Default has occurred until all Obligations (other than inchoate indemnity obligations) have been satisfied in full and Lenders are under no further obligation to make Credit Extensions hereunder. Agent’s
foregoing appointment as Borrower’s attorney in fact, and all of Agent’s rights and powers, coupled with an interest, are irrevocable until all Obligations (other than inchoate indemnity obligations) have been fully repaid and performed
and each Lender’s obligation to provide Credit Extensions terminates. 
 9.3 Protective Payments. If Borrower fails to
obtain the insurance called for by Section 6.5 or fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document or which may be required to preserve the
Collateral, Agent may obtain such insurance or make such payment, and all amounts so paid by Agent are Lenders’ Expenses and immediately due and payable, bearing interest at the then highest rate applicable to the Obligations, and secured by
the Collateral. Agent will make reasonable efforts to provide Borrower with notice of Agent obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Agent are deemed an agreement to make similar
payments in the future or Agent’s and/or Lenders’ waiver of any Event of Default. 
 9.4 Application of Payments and
Proceeds Upon Default. If an Event of Default has occurred and is continuing, Agent shall have the right to apply in any order any funds in its possession, whether from Borrower’s account balances, payments, proceeds realized as the result
of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations. Agent shall pay any surplus to Borrower by credit to the Designated Deposit Account or to other Persons legally entitled thereto; Borrower shall
remain liable to Agent and the Lenders for any deficiency. If Agent, directly or indirectly, enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Agent shall have the option, exercisable at any
time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Agent of cash therefor. 

9.5 Liability for Collateral. So long as Agent and Lenders comply with reasonable banking practices regarding the safekeeping of
the Collateral in their possession or under the control of Agent and/or Lenders, Agent and Lenders shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any
diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral. 

9.6 No Waiver; Remedies Cumulative. Agent’s and any Lender’s failure, at any time or times, to require strict
performance by Borrower of any provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Agent or any Lender thereafter to demand strict performance and compliance herewith or therewith. No waiver
hereunder shall be effective unless signed by the party granting the waiver and then is only effective for the specific instance and purpose for which it is given. Agent’s and each Lender’s rights and remedies under this Agreement and the
other Loan Documents are cumulative. Agent and each Lender have all rights and remedies provided under the Code, by law, or in equity. Agent’s or any Lender’s exercise of one right or remedy is not an election and shall not preclude Agent
or any Lender from exercising any other remedy under this Agreement or any other Loan Document or other remedy available at law or in equity, and Agent’s or any Lender’s waiver of any Event of Default is not a continuing waiver.
Agent’s or any Lender’s delay in exercising any remedy is not a waiver, election, or acquiescence. 

  
 22 

 9.7 Demand Waiver. Borrower waives demand, notice of default or dishonor,
notice of payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Agent on which Borrower is liable.

 9.8 Erroneous Payments. 

(a) If Agent notifies a Lender or any Person who has received funds on behalf of another Lender (any such Lender or other recipient, a
“Payment Recipient”) that Agent has determined in its sole discretion (whether or not after receipt of any notice under immediately succeeding clause (b)) that any funds received by such Payment Recipient from Agent or any of its
Affiliates were erroneously transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Lender or other Payment Recipient on its behalf) (any such funds, whether received as a payment,
prepayment or repayment of principal, interest, fees, distribution or otherwise, individually and collectively, an “Erroneous Payment”) and demands the return of such Erroneous Payment (or a portion thereof), such Erroneous Payment
shall at all times remain the property of Agent and shall be segregated by the Payment Recipient and held in trust for the benefit of Agent, and such Lender or other Person (or, with respect to any Payment Recipient who received such funds on its
behalf, shall cause such Payment Recipient to) promptly, but in no event later than two Business Days thereafter, return to Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in
the currency so received), together with interest thereon in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Payment Recipient to the date such amount is repaid to Agent in same day
funds at the greater of the Federal Funds Effective Rate and a rate determined by Agent in accordance with banking industry rules on interbank compensation from time to time in effect. A notice of Agent to any Payment Recipient under this clause
(a) shall be conclusive, absent manifest error. 
 (b) Without limiting immediately preceding clause (a), each Lender or any Person who
has received funds on behalf of a Lender, hereby further agrees that if it receives a payment, prepayment or repayment (whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise) from Agent (or
any of its Affiliates) (x) that is in a different amount than, or on a different date from, that specified in a notice of payment, prepayment or repayment sent by Agent (or any of its Affiliates) with respect to such payment, prepayment or
repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment or repayment sent by Agent (or any of its Affiliates), or (z) that such Lender or other such recipient, otherwise becomes aware was transmitted, or
received, in error or by mistake (in whole or in part) in each case: 
 (1) (A) in the case of immediately preceding clauses
(x) or (y), an error shall be presumed to have been made (absent written confirmation from Agent to the contrary) or (B) an error has been made (in the case of immediately preceding clause (z)), in each case, with respect to such payment,
prepayment or repayment; and 
 (2) such Lender shall (and shall cause any other recipient that receives funds on its
respective behalf to) promptly (and, in all events, within one (1) Business Day of its knowledge of such error) notify Agent of its receipt of such payment, prepayment or repayment, the details thereof (in reasonable detail) and that it is so
notifying Agent pursuant to this Section 9.8(b). 
 (c) Each Lender hereby authorizes Agent to set off, net and apply any and all
amounts at any time owing to such Lender under any Loan Document, or otherwise payable or distributable by Agent to such Lender from any source, against any amount due to Agent under clause (a) hereof or under the indemnification provisions of
this Agreement. 

  
 23 

 (d) In the event that an Erroneous Payment (or portion thereof) is not recovered by Agent
for any reason, after demand therefor by Agent in accordance with clause (a) hereof, from any Lender that has received such Erroneous Payment (or portion thereof) (and/or from any Payment Recipient who received such Erroneous Payment (or
portion thereof) on its respective behalf) (such unrecovered amount, an “Erroneous Payment Return Deficiency”), upon Agent’s notice to such Lender at any time, (i) such Lender shall be deemed to have assigned its Credit
Extensions (but not its Term Loan Commitments) with respect to which such Erroneous Payment was made in an amount equal to the Erroneous Payment Return Deficiency (or such lesser amount as Agent may specify) (such assignment of the Credit Extensions
(but not Commitments), the “Erroneous Payment Deficiency Assignment”) at par plus any accrued and unpaid interest (with the assignment fee to be waived by Agent in such instance), and such Lender shall deliver any notes evidencing
such Credit Extensions to Borrower or Agent, (ii) Agent as the assignee Lender shall be deemed to acquire the Erroneous Payment Deficiency Assignment, and (iii) upon such deemed acquisition, Agent as the assignee Lender shall become a
Lender, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment and the assigning Lender shall cease to be a Lender, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment, excluding, for
the avoidance of doubt, its obligations under the indemnification provisions of this Agreement and its applicable Term Loan Commitments which shall survive as to such assigning Lender. Agent may, in its discretion, sell any Credit Extensions
acquired pursuant to an Erroneous Payment Deficiency Assignment and upon receipt of the proceeds of such sale, the Erroneous Payment Return Deficiency owing by the applicable Lender shall be reduced by the net proceeds of the sale of such Credit
Extension (or portion thereof), and Agent shall retain all other rights, remedies and claims against such Lender (and/or against any recipient that receives funds on its respective behalf). For the avoidance of doubt, no Erroneous Payment Deficiency
Assignment will reduce the Term Loan Commitments of any Lender and such Term Loan Commitments shall remain available in accordance with the terms of this Agreement. In addition, each party hereto agrees that, except to the extent that Agent has sold
a Credit Extension (or portion thereof) acquired pursuant to an Erroneous Payment Deficiency Assignment, and irrespective of whether Agent may be equitably subrogated, Agent shall be contractually subrogated to all the rights and interests of the
applicable Lender under the Loan Documents with respect to each Erroneous Payment Return Deficiency (the “Erroneous Payment Subrogation Rights”). 

(e) The parties hereto agree that an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by
Borrower or another Borrower, except, in each case, to the extent such Erroneous Payment is, and solely with respect to the amount of such Erroneous Payment that is, comprised of funds received by Agent from Borrower or any other Borrower for the
purpose of making such Erroneous Payment. 
 (f) To the extent permitted by applicable law, no Payment Recipient shall assert any right or
claim to an Erroneous Payment, and hereby waives, and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by Agent for the
return of any Erroneous Payment received, including without limitation any defense based on “discharge for value” or any similar doctrine 

(g) Each party’s obligations, agreements and waivers under this Section 9.8 shall survive the resignation or replacement of Agent,
any transfer of rights or obligations by, or the replacement of, a Lender, the termination of the Term Loan Commitments and/or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document. 

  
 24 

 10 AGENT 

10.1 Appointment and Authority. 

(a) Each Lender hereby irrevocably appoints SVB to act on its behalf as Agent hereunder and under the other Loan Documents and authorizes
Agent to take such actions on its behalf and to exercise such powers as are delegated to Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. 

(b) The provisions of this Section 10 are solely for the benefit of Agent and Lenders, and Borrower shall not have rights as a third
party beneficiary of any of such provisions. Notwithstanding any provision to the contrary elsewhere in this Agreement, Agent shall not have any duties or responsibilities to any Lender or any other Person, except those expressly set forth herein,
or any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against Agent. 

10.2 Delegation of Duties. Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any
other Loan Document by or through any one or more sub-agents appointed by Agent. Agent and any such sub-agent may perform any and all of its duties and exercise its
rights and powers by or through their respective Indemnified Persons. The exculpatory provisions of this Section 10.2 shall apply to any such sub-agent and to the Indemnified Persons of Agent and any such
sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Agent. 

10.3 Exculpatory Provisions. Agent shall have no duties or obligations except those expressly set forth herein and in the other
Loan Documents. Without limiting the generality of the foregoing, Agent shall not: 
 (a) be subject to any fiduciary, trust, agency or other
similar duties, regardless of whether any Event of Default has occurred and is continuing; 
 (b) have any duty to take any discretionary
action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that Agent is required to exercise as directed in writing by the Lenders, as applicable; provided that
Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose Agent to liability or that is contrary to any Loan Document or applicable law; and 

(c) except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and Agent shall not be liable for the
failure to disclose, any information relating to Borrower or any of its Affiliates that is communicated to or obtained by any Person serving as Agent or any of its Affiliates in any capacity. 

Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Lenders (or as Agent
shall believe in good faith shall be necessary, under the circumstances as provided in Section 13.7) or (ii) in the absence of its own gross negligence or willful misconduct. 

Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or
in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of
any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Event of Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or
any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Section 3 or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to Agent. 

  
 25 

 10.4 Reliance by Agent. Agent shall be entitled to rely upon, and shall not
incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, internet or intranet website posting or other distribution) believed by it to be
genuine and to have been signed, sent or otherwise authenticated by the proper Person. Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any
liability for relying thereon. Agent may consult with legal counsel (who may be counsel for Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the
advice of any such counsel, accountants or experts. In determining compliance with any condition hereunder to the making of a Credit Extension that, by its terms, must be fulfilled to the satisfaction of a Lender, Agent may presume that such
condition is satisfactory to such Lender unless Agent shall have received notice to the contrary from such Lender prior to the making of such Credit Extension. Agent shall in all cases be fully protected in acting, or in refraining from acting,
under this Agreement and the other Loan Documents in accordance with a request of the Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon Lenders and all future holders of the Credit Extensions.

 10.5 Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default
(except with respect to defaults in the payment of principal, interest or fees required to be paid to Agent for the account of Lenders), unless Agent has received notice from a Lender or Borrower referring to this Agreement, describing such Event of
Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. Agent shall take such action with respect to such Event of Default as shall be
reasonably directed by the Lenders. 
 10.6 Non-Reliance on Agent and Other Lenders.
Each Lender expressly acknowledges that neither Agent nor any of its officers, directors, employees, agents, attorneys in fact or affiliates has made any representations or warranties to it and that no act by Agent hereafter taken, including any
review of the affairs of a Group Member or any Affiliate of a Group Member, shall be deemed to constitute any representation or warranty by Agent to any Lender. Each Lender represents to Agent that it has, independently and without reliance upon
Agent or any other Lender, and based on such documents and information as it has deemed appropriate, made its own appraisal of, and investigation into, the business, operations, property, financial and other condition and creditworthiness of the
Group Members and their Affiliates and made its own decision to make its Credit Extensions hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon Agent or any other Lender, and
based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such
investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Group Members and their Affiliates. Except for notices, reports and other documents expressly
required to be furnished to Lenders by Agent hereunder, Agent shall have no duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, condition (financial or otherwise),
prospects or creditworthiness of any Group Member or any Affiliate of a Group Member that may come into the possession of Agent or any of its officers, directors, employees, agents, attorneys in fact or Affiliates. 

  
 26 

 10.7 Indemnification. Each Lender agrees to indemnify Agent in its capacity as
such (to the extent not reimbursed by Borrower and without limiting the obligation of Borrower to do so in accordance with the terms hereof, according to its Term Loan Commitment Percentage in effect on the date on which indemnification is sought
under this Section 10.7 (or, if indemnification is sought after the date upon which the Commitments shall have terminated and the Obligations shall have been paid in full, in accordance with its Term Loan Commitment Percentage immediately prior
to such date), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time (whether before or after the payment of the
Credit Extensions) be imposed on, incurred by or asserted against Agent in any way relating to or arising out of, the Commitments, this Agreement, any of the other Loan Documents or any documents contemplated by or referred to herein or therein or
the transactions contemplated hereby or thereby or any action taken or omitted by Agent under or in connection with any of the foregoing; provided that no Lender shall be liable for the payment of any portion of such liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements that are found by a final and non-appealable decision of a court of competent jurisdiction to have resulted primarily
from Agent’s gross negligence or willful misconduct. The agreements in this Section shall survive the payment of the Credit Extensions and all other amounts payable hereunder. 

10.8 Agent in Its Individual Capacity. The Person serving as Agent hereunder shall have the same rights and powers in its
capacity as a Lender as any other Lender and may exercise the same as though it were not Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include each
such Person serving as Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of
business with Borrower, or any Subsidiary or other Affiliate thereof as if such Person were not Agent hereunder and without any duty to account therefor to Lenders. 

10.9 Successor Agent. Agent may at any time give notice of its resignation to Lenders and Borrower, which resignation shall not
be effective until the time at which the majority of the Lenders have delivered to Agent their written consent to such resignation. Upon receipt of any such notice of resignation, the Lenders shall have the right, in consultation with Borrower, to
appoint a successor, which shall be a financial institution with an office in the State of California, or an Affiliate of any such bank with an office in the State of California. If no such successor shall have been so appointed by the Lenders and
shall have accepted such appointment within thirty (30) days after the retiring Agent has received the written consent of the majority of the Lenders to such resignation, then the retiring Agent may on behalf of Lenders, appoint a successor
Agent meeting the qualifications set forth above; provided that in no event shall any such successor Agent be a Defaulting Lender and provided further that if the retiring Agent shall notify Borrower and Lenders that no qualifying Person has
accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents
(except that in the case of any collateral security held by Agent on behalf of the Lenders under any of the Loan Documents, the retiring Agent shall continue to hold such collateral security until such time as a successor Agent is appointed and such
collateral security is assigned to such successor Agent) and (2) all payments, communications and determinations provided to be made by, to or through Agent shall instead be made by or to each Lender directly, until such time as the Lenders
appoint a successor Agent as provided for above in this Section 10.9. Upon the acceptance of a successor’s appointment as Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and
duties of the retiring (or retired) Agent, and the retiring Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this
Section 10.9). The fees payable by Borrower to a successor Agent shall be the same as those payable to its predecessor unless otherwise agreed between Borrower and such successor. After the retiring Agent’s resignation hereunder and under
the other Loan Documents, the provisions of this Section 10 shall continue in effect for the benefit of such retiring Agent, its sub-agents and their respective Indemnified Persons in respect of any
actions taken or omitted to be taken by any of them while the retiring Agent was acting as Agent. 

  
 27 

 10.10 Defaulting Lender. 

(a) Defaulting Lender Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a
Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 

(i) Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or
consent with respect to this Agreement shall be restricted as long as said Lender is a Defaulting Lender. 
 (ii)
Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 8 or otherwise, and
including any amounts made available to the Agent by such Defaulting Lender pursuant to Section 13.10), shall be applied at such time or times as may be determined by the Agent as follows: first, to the payment of any amounts owing by such
Defaulting Lender to the Agent hereunder; second, as Borrower may request (so long as no Event of Default exists), to the funding of any Term Loan Advance in respect of which such Defaulting Lender has failed to fund its portion thereof as required
by this Agreement, as determined by the Agent; third, if so determined by the Agent and Borrower, to be held in a Deposit Account and released pro rata to satisfy such Defaulting Lender’s potential future funding obligations with respect to the
Term Loan Advances under this Agreement; fourth, so long as no Event of Default has occurred and is continuing, to the payment of any amounts owing to Borrower as a result of any judgment of a court of competent jurisdiction obtained by Borrower
against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and fifth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if
(A) such payment is a payment of the principal amount of any Term Loan Advance in respect of which such Defaulting Lender has not fully funded its appropriate share and (B) such Term Loan Advance was made at a time when the conditions set
forth in Section 3.1 were satisfied or waived, such payment shall be applied solely to pay the Term Loan Advance of all non-Defaulting Lenders on a pro rata basis prior to being applied to the
payment of any Term Loan Advance of such Defaulting Lender until such time as the Term Loan Advance is held by the Lenders pro rata in accordance with their respective Term Loan Commitment under this Agreement. Any payments, prepayments or other
amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender pursuant to this Section 10.10(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender
irrevocably consents hereto. 
 (iii) Certain Fees. No Defaulting Lender shall be entitled to receive any fee
pursuant to Section 2.4(a) or Section 2.4(b) for any period during which such Lender is a Defaulting Lender (and Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to such
Defaulting Lender). 
 (b) Defaulting Lender Cure. If Borrower and Agent agree in writing that a Lender is no longer a Defaulting
Lender, Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein, such Lender will, to the extent applicable, purchase at par that portion of outstanding
Term Loan Advances of the other Lenders or take 

  
 28 

 
such other actions as Agent may determine to be necessary to cause the Term Loan Advances to be held on a pro rata basis by the Lenders in accordance with their respective Term Loan
Commitment Percentages, whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of Borrower while such Lender was a Defaulting
Lender; and provided further that, except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising
from such Lender having been a Defaulting Lender. 
 (c) Termination of Defaulting Lender. Borrower may terminate the unused amount
of the Term Loan Commitment of any Lender that is a Defaulting Lender upon not less than ten (10) Business Days’ prior notice to Agent (which shall promptly notify the Lenders thereof), and in such event the provisions of
Section 10.10(a)(ii) will apply to all amounts thereafter paid by Borrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that
(i) no Event of Default shall have occurred and be continuing, and (ii) such termination shall not be deemed to be a waiver or release of any claim Borrower, Agent or any Lender may have against such Defaulting Lender. 

(d) If the Person serving as Agent is a Defaulting Lender pursuant to clause (d) of the definition thereof, the non-Defaulting Lenders may, to the extent permitted by applicable law, by notice in writing to Borrower and such Person, remove such Person as Agent and, in consultation with Borrower, appoint a successor. If no
such successor shall have been so appointed by the non-Defaulting Lenders and shall have accepted such appointment within thirty (30) days (or such earlier day as shall be agreed by the non-Defaulting Lenders) (the “Removal Effective Date”), then such removal shall nonetheless become effective in accordance with such notice on the Removal Effective Date. 

11 NOTICES 
 All
notices, consents, requests, approvals, demands, or other communication by any party to this Agreement or any other Loan Document must be in writing and shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of
actual receipt and three (3) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt requested, with proper postage prepaid; (b) upon transmission, when sent by electronic mail or facsimile
transmission; (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or (d) when delivered, if hand-delivered by messenger, all of which shall be addressed to the party to be notified and sent
to the address, facsimile number, or email address indicated below. Agent or Borrower may change its mailing or electronic mail address or facsimile number by giving the other party written notice thereof in accordance with the terms of this
Section 11. 
  

			
	 If to Borrower:
	  	 Akili Interactive Labs, Inc.
 125 Broad Street,
4th Floor
 Boston, Massachusetts 02110

Attn:    Santosh Shanbhag

Email:  [***]

	  
 with a copy to:
	  	  
 Goodwin Procter LLP

100 Northern Avenue
 Boston, Massachusetts 02210

Attn:    Mark D. Smith
 Fax:
    (617) 801-8835
 Email:  [***]

  
 29 

			
	 If to Agent or SVB:
	  	 Silicon Valley Bank
 275 Grove Street, Suite 2-200
 Newton, Massachusetts 02466

Attn:     Sam Subilia

Email:  [***]

	  
 with a copy to:
	  	  
 Morrison & Foerster LLP

200 Clarendon Street, 20th Floor

Boston, Massachusetts 02116
 Attn:     David
A. Ephraim, Esquire
 Email:  [***]

	  
 If to SVB Innovation Fund:
	  	  
 SVB Innovation Credit Fund VIII, L.P.

c/o SVB Capital
 2770 Sand Hill Road

Menlo Park, CA 94025
 Attention:    SVB
Capital Finance and Operations
 Email:         [***]

                   
 [***]

 12 CHOICE OF LAW, VENUE AND JURY TRIAL WAIVER 

Except as otherwise expressly provided in any of the Loan Documents, Massachusetts law governs the Loan Documents without regard to principles
of conflicts of law. Except to the extent otherwise set forth in the Loan Documents, Borrower, Agent and Lenders each submit to the exclusive jurisdiction of the State and Federal courts in Boston, Massachusetts; provided, however,
that nothing in this Agreement shall be deemed to operate to preclude Agent or Lenders from bringing suit or taking other legal action in any other jurisdiction to realize on the Collateral or any other security for the Obligations, or to enforce a
judgment or other court order in favor of Agent or any Lender. Borrower expressly submits and consents in advance to such jurisdiction in any action or suit commenced in any such court, and Borrower hereby waives any objection that it may have based
upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby consents to the granting of such legal or equitable relief as is deemed appropriate by such court. Borrower hereby waives personal service of the summons,
complaints, and other process issued in such action or suit and agrees that service of such summons, complaints, and other process may be made by registered or certified mail addressed to Borrower at the address set forth in, or subsequently
provided by Borrower in accordance with, Section 11 of this Agreement and that service so made shall be deemed completed upon the earlier to occur of Borrower’s actual receipt thereof or three (3) days after deposit in the U.S. mails,
proper postage prepaid. 
 TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BORROWER, AGENT AND EACH LENDER EACH WAIVE THEIR RIGHT TO A
JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR ALL
PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 
 This Section 12 shall survive the
termination of this Agreement. 

  
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 13 GENERAL PROVISIONS 

13.1 Termination Prior to Term Loan Maturity Date; Survival. All covenants, representations and warranties made in this
Agreement continue in full force until this Agreement has terminated pursuant to its terms and all Obligations (other than inchoate indemnity obligations, any other obligations which by their terms are to survive the termination of this Agreement,
and any Obligations under Bank Services Agreements that are cash collateralized in accordance with Section 4.1 of this Agreement) have been satisfied. So long as Borrower has satisfied the Obligations (other than inchoate indemnity obligations,
any other obligations which, by their terms, are to survive the termination of this Agreement, and any Obligations under Bank Services Agreements that are cash collateralized in accordance with Section 4.1 of this Agreement), this Agreement may
be terminated prior to the Term Loan Maturity Date by Borrower, effective three (3) Business Days after written notice of termination is given to Agent. Those obligations that are expressly specified in this Agreement as surviving this
Agreement’s termination shall continue to survive notwithstanding this Agreement’s termination. No termination of this Agreement or any Bank Services Agreement shall in any way affect or impair any right or remedy of Agent or any Lender,
nor shall any such termination relieve Borrower of any Obligation to any Lender, until all of the Obligations have been paid and performed in full. Those Obligations that are expressly specified in this Agreement as surviving this Agreement’s
termination shall continue to survive notwithstanding this Agreement’s termination and payment in full of the Obligations then outstanding. 

13.2 Successors and Assigns. This Agreement binds and is for the benefit of the successors and permitted assigns of each party.
Borrower may not assign this Agreement or any rights or obligations under it without Agent and Lenders’ prior written consent (which may be granted or withheld in Agent’s and Lenders’ sole discretion). Agent and each Lender has the
right, without the consent of or notice to Borrower, to sell, transfer, assign, negotiate, or grant participation in all or any part of, or any interest in, such Lender’s obligations, rights, and benefits under this Agreement and the other Loan
Documents (other than the Warrant, as to which assignment, transfer and other such actions are governed by the terms thereof). 

13.3 Indemnification. Borrower agrees to indemnify, defend and hold Agent, each Lender and their respective directors, officers,
employees, agents, attorneys, or any other Person affiliated with or representing Agent or any Lender (each, an “Indemnified Person”) harmless against: (i) all obligations, demands, claims, and liabilities (collectively,
“Claims”) claimed or asserted by any other party in connection with the transactions contemplated by the Loan Documents; and (ii) all losses or expenses (including Lenders’ Expenses) in any way suffered, incurred, or paid
by such Indemnified Person as a result of, following from, consequential to, or arising from transactions between Agent, Lenders and Borrower contemplated by the Loan Documents (including reasonable attorneys’ fees and expenses), except for
Claims and/or losses directly caused by such Indemnified Person’s gross negligence or willful misconduct. 
 This Section 13.3
shall survive until all statutes of limitation with respect to the Claims, losses, and expenses for which indemnity is given shall have run. 

13.4 Time of Essence. Time is of the essence for the performance of all Obligations in this Agreement. 

13.5 Severability of Provisions. Each provision of this Agreement is severable from every other provision in determining the
enforceability of any provision. 
 13.6 Correction of Loan Documents. Agent may correct patent errors and fill in any blanks
in the Loan Documents consistent with the agreement of the parties so long as Agent provides Borrower with written notice of such correction and allows Borrower at least ten (10) days to object to such correction. 

In the event of such objection, such correction shall not be made except by an amendment signed by Agent, the Lenders and Borrower. 

  
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 13.7 Amendments in Writing; Waiver; Integration. No purported amendment or
modification of any Loan Document, or waiver, discharge or termination of any obligation under any Loan Document, or release, or subordinate Lenders’ security interest in, or consent to the transfer of, any Collateral shall be enforceable or
admissible unless, and only to the extent, expressly set forth in a writing signed by Agent, with the consent of the Lenders in accordance with the Lender Intercreditor Agreement or, if such item is not addressed in the Lender Intercreditor
Agreement, as consented to by a majority of the Lenders, and Borrower. Without limiting the generality of the foregoing, no oral promise or statement, nor any action, inaction, delay, failure to require performance or course of conduct shall operate
as, or evidence, an amendment, supplement or waiver or have any other effect on any Loan Document. Any waiver granted shall be limited to the specific circumstance expressly described in it, and shall not apply to any subsequent or other
circumstance, whether similar or dissimilar, or give rise to, or evidence, any obligation or commitment to grant any further waiver. The Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or
agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of the Loan Documents merge into the Loan Documents. In the event any provision of any other Loan Document
is inconsistent with the provisions of this Agreement, the provisions of this Agreement shall exclusively control. 
 13.8
Counterparts. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one Agreement. 

13.9 Confidentiality. Agent and each Lender agrees to maintain the confidentiality of Information (as defined below), except
that Information may be disclosed (a) to Agent and/or any Lender’s subsidiaries or Affiliates, and their respective employees, directors, investors, potential investors, agents, attorneys, accountants and other professional advisors
(collectively, “Representatives” and, together with Agent and the Lenders, collectively, “Lender Entities”) provided that such Lender Entities are bound by the provisions substantially the same as this
Section 13.9; (b) to prospective transferees, assignees, credit providers or purchasers of any of Agent’s or Lenders’ interests under or in connection with this Agreement and their Representatives (provided, however, Agent and the
Lenders shall use their best efforts to obtain any such prospective transferee’s, assignee’s, credit provider’s, or purchaser’s or their Representatives’ agreement to the terms of this provision); (c) as required by law,
regulation, subpoena, or other order; (d) to Agent’s or any Lender’s regulators or as otherwise required in connection with Agent’s or any Lender’s examination or audit; (e) as Agent or any Lender considers appropriate
in exercising remedies under the Loan Documents; and (f) to third-party service providers of Agent and/or any Lender so long as such service providers have executed a confidentiality agreement with Agent or the Lenders, as applicable, with
terms no less restrictive than those contained herein. The term “Information” means all information received from Borrower regarding Borrower or its business, in each case other than information that is either: (i) in the
public domain or in Agent’s or any Lender’s possession when disclosed to Agent or such Lender, or becomes part of the public domain (other than as a result of its disclosure by Agent or a Lender in violation of this Agreement) after
disclosure to Agent and/or the Lenders; or (ii) disclosed to Agent and/or a Lender by a third party, if Agent or such Lender, as applicable, does not know that the third party is prohibited from disclosing the information. 

Lender Entities may use anonymous forms of confidential information for aggregate datasets, for analyses or reporting, and for any other uses
not expressly prohibited in writing by Borrower. The provisions of the immediately preceding sentence shall survive the termination of this Agreement. 

  
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 13.10 Right of Setoff. Borrower hereby grants to Agent, for the ratable
benefit of the Lenders, a Lien, security interest, and a right of setoff as security for all Obligations to Agent and the Lenders, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or
hereafter in the possession, custody, safekeeping or control of Agent or any entity under the control of Agent (including a subsidiary of Agent) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of
Default, without demand or notice, Agent or any Lender may setoff the same or any part thereof and apply the same to any Obligation of Borrower then due regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS
TO REQUIRE AGENT OR ANY LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER, ARE
HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. 
 13.11 Electronic Execution of Documents. The words
“execution,” “signed,” “signature” and words of like import in any Loan Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal
effect, validity and enforceability as a manually executed signature or the use of a paper-based recordkeeping systems, as the case may be, to the extent and as provided for in any applicable law, including, without limitation, any state law based
on the Uniform Electronic Transactions Act. 
 13.12 Captions. The headings used in this Agreement are for convenience only
and shall not affect the interpretation of this Agreement. 
 13.13 Construction of Agreement. The parties mutually
acknowledge that they and their attorneys have participated in the preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty to exist. 

13.14 Relationship. The relationship of the parties to this Agreement is determined solely by the provisions of this Agreement.
The parties do not intend to create any agency, partnership, joint venture, trust, fiduciary or other relationship with duties or incidents different from those of parties to an arm’s-length contract.

 13.15 Third Parties. Nothing in this Agreement, whether express or implied, is intended to: (a) confer any benefits,
rights or remedies under or by reason of this Agreement on any persons other than the express parties to it and their respective permitted successors and assigns; (b) relieve or discharge the obligation or liability of any person not an express
party to this Agreement; or (c) give any person not an express party to this Agreement any right of subrogation or action against any party to this Agreement. 

13.16 Patriot Act. Each Lender hereby notifies Borrower that pursuant to the requirements of the USA PATRIOT Act, it is required
to obtain, verify and record information that identifies Borrower and each of its Subsidiaries, which information includes the names and addresses of Borrower and each of its Subsidiaries and other information that will allow Lender, as applicable,
to identify Borrower and each of its Subsidiaries in accordance with the USA PATRIOT Act. 
 13.17 Amended and Restated
Agreement. This Agreement amends and restates, in its entirety, and replaces, the Prior Loan Agreement. This Agreement is not intended to, and does not, novate the Prior Loan Agreement and Borrower reaffirms that the existing security interest
created by the Prior Loan Agreement is and remains in full force and effect. In addition, the amendment and restatement of the Prior Loan Agreement pursuant to this Agreement is not intended to amend the existing terms of any other Loan Document
delivered in connection with the Prior Loan Agreement nor to terminate any such Loan Document, and no amendment or termination of any such Loan Document shall be deemed to have occurred unless set forth in a separate agreement or other document
between Borrower, Agent, and the Lenders. 

  
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 14 DEFINITIONS 

14.1 Definitions. As used in the Loan Documents, the word “shall” is mandatory, the word “may” is
permissive, the word “or” is not exclusive, the words “includes” and “including” are not limiting, the singular includes the plural, and numbers denoting amounts that are set off in brackets are negative. As used in
this Agreement, the following capitalized terms have the following meanings: 
 “Account” is any “account”
as defined in the Code with such additions to such term as may hereafter be made, and includes, without limitation, all accounts receivable and other sums owing to Borrower. 

“Account Debtor” is any “account debtor” as defined in the Code with such additions to such term as may
hereafter be made. 
 “Affiliate” is, with respect to any Person, each other Person that owns or controls directly or
indirectly the Person, any Person that controls or is controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners and, for any Person that is a limited liability company,
that Person’s managers and members. 
 “Agent” is defined in the preamble hereof. 

“Agreement” is defined in the preamble hereof. 

“Average EBDA” is, as of any date of determination, expressed as a positive number, the average monthly EBDA during the
immediately preceding three (3) month period (as calculated by adding the EBDA of Borrower for each month during such three (3) month period and then dividing such amount by three (3)) (provided, however, if such amount is greater than
zero (0) (independent of the proviso set forth in the beginning of this definition providing that such number will be positive), then such amount shall be deemed to be one (1)). 

“Authorized Signer” is any individual listed in Borrower’s Borrowing Resolution who is authorized to execute the Loan
Documents, including making (and executing if applicable) any Credit Extension request, on behalf of Borrower. 
 “Bank
Services” are any products, credit services, and/or financial accommodations previously, now, or hereafter provided to Borrower or any of its Subsidiaries by SVB or any SVB Affiliate, including, without limitation, any letters of credit,
cash management services (including, without limitation, merchant services, direct deposit of payroll, business credit cards, and check cashing services), interest rate swap arrangements, and foreign exchange services as any such products or
services may be identified in SVB’s various agreements related thereto (each, a “Bank Services Agreement”). 

“Bank Services Agreement” is defined in the definition of Bank Services. 

“Board” means Borrower’s board of directors. 

“Borrower” is defined in the preamble hereof. 

  
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 “Borrower’s Books” are all Borrower’s books and records including
ledgers, federal and state tax returns, records regarding Borrower’s assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment containing such information. 

“Borrowing Resolutions” are, with respect to any Person, those resolutions adopted by such Person’s board of directors
(and, if required under the terms of such Person’s Operating Documents, stockholders) and delivered by such Person to Agent approving the Loan Documents to which such Person is a party and the transactions contemplated thereby, together with a
certificate executed by its secretary on behalf of such Person certifying (a) such Person has the authority to execute, deliver, and perform its obligations under each of the Loan Documents to which it is a party, (b) that set forth as a
part of or attached as an exhibit to such certificate is a true, correct, and complete copy of the resolutions then in full force and effect authorizing and ratifying the execution, delivery, and performance by such Person of the Loan Documents to
which it is a party, (c) the name(s) of the Person(s) authorized to execute the Loan Documents, including making (and executing if applicable) any Credit Extension request, on behalf of such Person, together with a sample of the true
signature(s) of such Person(s), and (d) that Agent and the Lenders may conclusively rely on such certificate unless and until such Person shall have delivered to Agent and the Lenders a further certificate canceling or amending such prior
certificate. 
 “Business Day” is any day that is not a Saturday, Sunday or a day on which Agent is closed. 

“Cash Equivalents” means (a) marketable direct obligations issued or unconditionally guaranteed by the United States or
any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either
Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc.; (c) SVB’s certificates of deposit issued maturing no more than one (1) year after issue; and (d) money market funds at least ninety-five percent
(95.0%) of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (c) of this definition. 

“Change in Control” means (a) at any time, any “person” or “group” (as such terms are used in
Sections 13(d) and 14(d) of the Exchange Act), shall become, or obtain rights (whether by means of warrants, options or otherwise) to become, the “beneficial owner” (as defined in Rules 13(d)-3 and 13(d)-5 under the Exchange Act), directly or indirectly, of forty percent (40.0%) or more of the ordinary voting power for the election of directors of Borrower (determined on a fully diluted basis) other than by
the sale of Borrower’s equity securities in a public offering or to venture capital or private equity investors so long as Borrower identifies to the Agent and the Lenders the venture capital or private equity investors at least seven
(7) Business Days prior to the closing of the transaction and provides to Agent and the Lenders a description of the material terms of the transaction; (b) during any period of twelve (12) consecutive months, a majority of the members
of the board of directors or other equivalent governing body of Borrower cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination
to that board or equivalent governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose
election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or
equivalent governing body; or (c) at any time, Borrower shall cease to own and control, of record and beneficially, directly or indirectly, one hundred percent (100.0%) of each class of outstanding capital stock of each Subsidiary of Borrower
free and clear of all Liens (except Liens created by this Agreement). 
 “Claims” is defined in Section 13.3. 

  
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 “Code” is the Uniform Commercial Code, as the same may, from time to time,
be enacted and in effect in the Commonwealth of Massachusetts; provided, that, to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently in different Articles or Divisions of the Code,
the definition of such term contained in Article or Division 9 shall govern; provided further, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or remedies with respect to,
Agent’s Lien on any Collateral is governed by the Uniform Commercial Code in effect in a jurisdiction other than the Commonwealth of Massachusetts, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in
such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of definitions relating to such provisions. 

“Collateral” is any and all properties, rights and assets of Borrower described on Exhibit A. 

“Collateral Account” is any Deposit Account, Securities Account, or Commodity Account. 

“Commitment” and “Commitments” means the Term Loan Commitment(s). 

“Commodity Account” is any “commodity account” as defined in the Code with such additions to such term as may
hereafter be made. 
 “Compliance Statement” is that certain statement in the form attached hereto as Exhibit B.

 “Contingent Obligation” is, for any Person, any direct or indirect liability, contingent or not, of that Person for
(a) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation, in each case, directly or indirectly guaranteed, endorsed, co-made, discounted or sold with
recourse by that Person, or for which that Person is directly or indirectly liable; (b) any obligations for undrawn letters of credit for the account of that Person; and (c) all obligations from any interest rate, currency or commodity
swap agreement, interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but “Contingent Obligation” does
not include endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinable, the maximum
reasonably anticipated liability for it determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement. 

“Control Agreement” is any control agreement entered into among the depository institution at which Borrower maintains a
Deposit Account or the securities intermediary or commodity intermediary at which Borrower maintains a Securities Account or a Commodity Account, Borrower, and Agent pursuant to which Agent obtains control (within the meaning of the Code) for the
benefit of the Lenders over such Deposit Account, Securities Account, or Commodity Account. 
 “Copyrights” are any and all
copyright rights, copyright applications, copyright registrations and like protections in each work of authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret. 

“Credit Extension” is any Term Loan Advance or any other extension of credit by any Lender for Borrower’s benefit. 

“Default Rate” is defined in Section 2.3(b). 

  
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 “Defaulting Lender” is, subject to Section 10.10(b), any Lender that
(a) has failed to (i) fund all or any portion of its Term Loan Advances within two (2) Business Days of the date such Term Loan Advances were required to be funded hereunder unless such Lender notifies Agent and Borrower in writing
that such failure is the result of such Lender’s reasonable determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such
writing) has not been satisfied, or (ii) pay to Agent or any other Lender any other amount required to be paid by it hereunder within two (2) Business Days of the date when due, (b) has notified Borrower or Agent in writing that it
does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Term Loan Advance hereunder and states that
such position is based on such Lender’s reasonable determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement)
cannot be satisfied), (c) has failed, within three (3) Business Days after written request by Agent or Borrower, to confirm in writing to Agent and Borrower that it will comply with its prospective funding obligations hereunder (provided that
such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by Agent and Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of
an Insolvency Proceeding, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets,
including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity
interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States
or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by Agent
that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 10.10(b)) upon
delivery of written notice of such determination to Borrower and each Lender. 
 “Deposit Account” is any “deposit
account” as defined in the Code with such additions to such term as may hereafter be made. 
 “Designated Deposit
Account” is the account number ending 988 (last three digits) maintained by Borrower with SVB (provided, however, if no such account number is included, then the Designated Deposit Account shall be any deposit account of Borrower maintained
with SVB as chosen by the Lenders). 
 “Disbursement Letter” is that certain form attached hereto as Exhibit D. 

“Division” means, in reference to any Person which is an entity, the division of such Person into two (2) or more
separate Persons, with the dividing Person either continuing or terminating its existence as part of such division, including, without limitation, as contemplated under Section 18-217 of the Delaware
Limited Liability Company Act for limited liability companies formed under Delaware law, or any analogous action taken pursuant to any other applicable law with respect to any corporation, limited liability company, partnership or other entity. 

“Dollars,” “dollars” or use of the sign “$” means only lawful money of the United States and not
any other currency, regardless of whether that currency uses the “$” sign to denote its currency or may be readily converted into lawful money of the United States. 

  
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 “Dollar Equivalent” is, at any time, (a) with respect to any amount
denominated in Dollars, such amount, and (b) with respect to any amount denominated in a Foreign Currency, the equivalent amount therefor in Dollars as determined by Agent at such time on the basis of the then-prevailing rate of exchange in San
Francisco, California, for sales of the Foreign Currency for transfer to the country issuing such Foreign Currency. 

“EBDA” shall mean (a) Net Income, plus (b) to the extent deducted in the calculation of Net Income, depreciation
expense and amortization expense. 
 “Effective Date” is defined in the preamble hereof. 

“EndeavorRX Revenue” means Borrower’s revenue (calculated in accordance with GAAP) from Borrower’s EndeavorRx
product. 
 “Equipment” is all “equipment” as defined in the Code with such additions to such term as may
hereafter be made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing. 

“Equity Consideration” is defined in the definition of Permitted Acquisition. 

“ERISA” is the Employee Retirement Income Security Act of 1974, and its regulations. 

“Erroneous Payment” has the meaning assigned to it in Section 9.8(a). 

“Erroneous Payment Deficiency Assignment” has the meaning assigned to it in Section 9.8(d). 

“Erroneous Payment Impacted Class” has the meaning assigned to it in Section 9.8(d). 

“Erroneous Payment Return Deficiency” has the meaning assigned to it in Section 9.8(d). 

“Erroneous Payment Subrogation Rights” has the meaning assigned to it in Section 9.8(d). 

“Event of Default” is defined in Section 8. 

“Exchange Act” is the Securities Exchange Act of 1934, as amended. 

“Federal Funds Effective Rate” means, for any day, the weighted average of the rates on overnight federal funds transactions
with members of the Federal Reserve System arranged by federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the
average of the quotations for the day of such transactions received by SVB from three federal funds brokers of recognized standing selected by it. 

“Final Payment” is a payment (in addition to and not a substitution for the regular monthly payments of principal plus
accrued interest) due on the earliest to occur of (a) the Term Loan Maturity Date, (b) when required by Section 2.2(d) or 2.2(e), (c) payment in full of the principal amount of the Term Loan Advances, or (d) the termination of
this Agreement, in an amount equal to the aggregate original principal amount of the Term Loan Advances multiplied by five percent (5.0%). 

“Financial Statement Repository” is [***] or such other means of collecting information approved and designated by Agent
after providing notice thereof to Borrower from time to time. 

  
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 “Foreign Currency” means lawful money of a country other than the United
States. 
 “Funding Date” is any date on which a Credit Extension is made to or for the account of Borrower which shall be
a Business Day. 
 “FX Contract” is any foreign exchange contract by and between Borrower and SVB under which Borrower
commits to purchase from or sell to SVB a specific amount of Foreign Currency on a specified date. 
 “GAAP” is generally
accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or
in such other statements by such other Person as may be approved by a significant segment of the accounting profession, which are applicable to the circumstances as of the date of determination. 

“General Intangibles” is all “general intangibles” as defined in the Code in effect on the date hereof with such
additions to such term as may hereafter be made, and includes without limitation, all Intellectual Property, claims, income and other tax refunds, security and other deposits, payment intangibles, contract rights, options to purchase or sell real or
personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance policies (including without limitation key man, property damage, and business interruption insurance), payments of
insurance and rights to payment of any kind. 
 “Good Faith Deposit” is defined in Section 2.4(d). 

“Governmental Approval” is any consent, authorization, approval, order, license, franchise, permit, certificate,
accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority. 

“Governmental Authority” is any nation or government, any state or other political subdivision thereof, any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities exchange and any
self-regulatory organization. 
 “Group Member” means Borrower and its Subsidiaries. 

“Indebtedness” is (a) indebtedness for borrowed money or the deferred price of property or services, such as
reimbursement and other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease obligations, and (d) Contingent Obligations. 

“Indemnified Person” is defined in Section 13.3. 

“Information” is defined in Section 13.9. 

“Initial Term A Loan Advance” is defined in Section 2.2(a). 

“Insolvency Proceeding” is any proceeding by or against any Person under the United States Bankruptcy Code, or any other
bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking reorganization, arrangement, or other relief. 

  
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 “Intellectual Property” means, with respect to any Person, all of such
Person’s right, title, and interest in and to the following: 
 (a) its Copyrights, Trademarks and Patents; 

(b) any and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented inventions, know-how and operating manuals; 
 (c) any and all source code; 

(d) any and all design rights which may be available to such Person; 

(e) any and all claims for damages by way of past, present and future infringement of any of the foregoing, with the right, but not the
obligation, to sue for and collect such damages for said use or infringement of the Intellectual Property rights identified above; and 

(f) all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents. 

“Inventory” is all “inventory” as defined in the Code in effect on the date hereof with such additions to
such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily
out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above. 

“Investment” is any beneficial ownership interest in any Person (including stock, partnership interest or other securities),
and any loan, advance or capital contribution to any Person. 
 “Key Person” is Borrower’s Chief Executive Officer.

 “Lender” and “Lenders” is defined in the preamble. 

“Lender Entities” is defined in Section 13.9. 

“Lender Intercreditor Agreement” is, collectively, any and all intercreditor agreement, master arrangement agreement or
similar agreement by and between SVB Innovation Fund and SVB, as each may be amended from time to time in accordance with the provisions thereof. 

“Lenders’ Expenses” are all of Agent’s and the Lenders’ audit fees and expenses, costs, and expenses
(including reasonable attorneys’ fees and expenses) for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency
Proceedings) or otherwise incurred with respect to Borrower. 
 “Letter of Credit” is a standby or commercial letter of
credit issued by SVB upon request of Borrower based upon an application, guarantee, indemnity, or similar agreement. 

“Lien” is a claim, mortgage, deed of trust, levy, charge, pledge, security interest or other encumbrance of any kind, whether
voluntarily incurred or arising by operation of law or otherwise against any property. 

  
 40 

 “Liquidity” is, at any time, the sum of (a) the aggregate amount of
unrestricted and unencumbered cash and Cash Equivalents held at such time by Borrower in accounts maintained with SVB and (b) the currently available but undrawn Term Loan Advances. 

“Loan Documents” are, collectively, this Agreement and any schedules, exhibits, certificates, notices, and any other
documents related to this Agreement, the Warrant, the Perfection Certificate, each Disbursement Letter, the Lender Intercreditor Agreement, the Amended and Restated Stock Pledge Agreement, any Bank Services Agreement, any Control Agreement, any
subordination agreement, any note, or notes or guaranties executed by Borrower, and any other present or future agreement by Borrower with or for the benefit of Agent and the Lenders in connection with this Agreement or Bank Services, all as
amended, restated, or otherwise modified. 
 “Material Adverse Change” is (a) a material impairment in the perfection
or priority of Agent’s, for the ratable benefit of the Lenders, Lien in the Collateral or in the value of such Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of Borrower;
(c) a material impairment of the prospect of repayment of any portion of the Obligations; or (d) Agent or any Lender determines, based upon information available to it and in its reasonable judgment, that there is a reasonable likelihood
that Borrower shall fail to comply with one or more of the financial covenants in Section 6 during the next succeeding financial reporting period. In determining whether a “Material Adverse Change” has occurred under clause
(b) or (c) above, Agent and the Lenders’ primary, though not sole, consideration will be whether Borrower has or will have sufficient cash resources to repay the Obligations as and when due. Agent and the Lenders recognize that, as a pre-profit company, Borrower’s cash resources will decline over time, and Borrower will periodically require additional infusions of equity capital. The clear intention of Borrower’s investors to continue
to fund Borrower in the amounts and timeframe necessary, in Agent and the Lenders’ judgment, to enable Borrower to satisfy the Obligations as they become due and payable is the most significant criterion Agent and the Lenders shall consider in
making any such determination. 
 “Minimum Cash Balance” means unrestricted and unencumbered cash of Borrower maintained in
accounts of Borrower at SVB, in an amount equal to at least Sixty Million Dollars ($60,000,000.00). 
 “Monthly Financial
Statements” is defined in Section 6.2(a). 
 “Net Income” means, as calculated for Borrower for any period as
at any date of determination, the net profit (or loss), after provision for taxes, of Borrower for such period taken as a single accounting period, determined in accordance with GAAP. 

“Obligations” are Borrower’s obligations to pay when due any debts, principal, interest, fees, Lenders’ Expenses,
the Final Payment, the Prepayment Premium, and other amounts Borrower owes Agent or any Lender now or later, whether under this Agreement, the other Loan Documents (other than the Warrant), or otherwise, including, without limitation, all
obligations relating to Bank Services, if any, and including any interest accruing after Insolvency Proceedings begin and debts, liabilities, or obligations of Borrower assigned to Agent and/or the Lenders, and to perform Borrower’s duties
under the Loan Documents (other than the Warrant). 
 “Operating Documents” are, for any Person, such Person’s
formation documents, as certified by the Secretary of State (or equivalent agency) of such Person’s jurisdiction of organization on a date that is no earlier than thirty (30) days prior to the Effective Date, and, (a) if such Person
is a corporation, its bylaws in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its partnership agreement (or similar
agreement), each of the foregoing with all current amendments or modifications thereto. 

  
 41 

 “Patents” means all patents, patent applications and like protections
including without limitation improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same. 

“Payment/Advance Form” is that certain form attached hereto as Exhibit C. 

“Payment Date” is the first (1st) calendar day of each month. 

“Payment Recipient” has the meaning assigned to it in Section 9.8(a). 

“Perfection Certificate” is defined in Section 5.1. 

“Performance Milestone” occurs if and when (if ever) Agent confirms in writing that the Lenders have received evidence,
satisfactory to the Lenders in their sole discretion, on or prior to December 31, 2022, that Borrower achieved, for any three (3) month period ending after the Effective Date but on or prior to December 31, 2022, EndeavorRx Revenue of
at least Twelve Million Five Hundred Thousand Dollars ($12,500,000.00). 
 “Permitted Acquisition” means a transaction
whereby Borrower acquires, or permits any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, which satisfies each of the following conditions: 

(a) such transaction shall only involve assets located in the United States and the party or parties being acquired is in the same or a
substantially similar line of business as Borrower; 
 (b) no Event of Default has occurred and is continuing or would exist after giving
effect to the transaction and Agent and the Lenders have each received satisfactory evidence that Borrower is in compliance with all terms and conditions of this Agreement (and that it will be in compliance after giving effect to the transaction);

 (c) the acquisition is approved by the board of directors (or equivalent control group) of all parties to the transaction; 

(d) the total consideration to be paid by Borrower for each such transaction does not exceed (i) Seven Million Five Hundred Thousand
Dollars ($7,500,000.00) in cash and the value of non-cash consideration (excluding, however, the value of Borrower’s or its Subsidiaries’ stock and/or equity interests issued by Borrower or its
Subsidiaries in connection with such transaction (collectively, the “Equity Consideration”)) or (ii) Fifty Million Dollars ($50,000,000.00) in cash and the value of non-cash consideration
(including Equity Consideration); 
 (e) Borrower provides Agent and the Lenders (i) written notice of the transaction at least twenty
(20) days before the closing of the transaction and (ii) copies of the acquisition agreement and other material documents relative to the contemplated transaction and such other financial information, financial analysis, documentation or
other information relating to such transaction as Agent and the Lenders shall reasonably request at least thirty (30) days before the closing of the transaction; 

(f) Borrower provides Agent and the Lenders, at least twenty (20) days before the closing of the contemplated transaction, written
confirmation, supported by reasonably detailed calculations, that on a pro forma basis (immediately after giving effect to such transaction) Borrower will have Remaining Months Liquidity equal to at least nine (9); 

  
 42 

 (g) Borrower is a surviving legal entity after completion of the contemplated transaction;

 (h) the contemplated transaction is consensual and non-hostile; 

(i) no Indebtedness will be incurred, assumed, or would exist with respect to Borrower or its Subsidiaries as a result of the contemplated
transaction, other than Permitted Indebtedness, and no Liens will be incurred, assumed, or would exist with respect to the assets of Borrower or its Subsidiaries as a result of the contemplated transaction, other than Permitted Liens; 

(j) the acquisition and the company being acquired is accretive in all respects; 

(k) any Person the capital stock of which is acquired or any Subsidiary that acquires assets in such contemplated transaction shall, within
thirty (30) days of the consummation of the transaction, become a coborrower or guarantor (as determined by Agent in its sole discretion) hereunder and shall grant a first priority Lien in all of its assets to Agent for the ratable benefit of
the Lenders, all on documentation acceptable to Agent in its sole discretion; and 
 (l) Borrower shall have delivered to Agent and the
Lenders, at least twenty (20) days prior to the date on which any such acquisition is to be consummated (or such later date as is agreed by Agent in its sole discretion), a certificate of a Responsible Officer of Borrower, in form and substance
reasonably satisfactory to Agent, certifying that all of the requirements set forth in this definition have been satisfied or will be satisfied on or prior to the consummation of such purchase or other acquisition. 

“Permitted Indebtedness” is: 

(a) Borrower’s Indebtedness to Agent and the Lenders under this Agreement and the other Loan Documents; 

(b) Indebtedness existing on the Effective Date which is shown on the Perfection Certificate; 

(c) Subordinated Debt; 
 (d)
unsecured Indebtedness to trade creditors incurred in the ordinary course of business; 
 (e) Indebtedness incurred as a result of endorsing
negotiable instruments received in the ordinary course of business; 
 (f) Indebtedness secured by Liens permitted under clauses
(a) and (c) of the definition of “Permitted Liens” hereunder; 
 (g) unsecured Indebtedness pursuant to credit card
obligations in an aggregate amount outstanding at any time not to exceed Five Hundred Thousand Dollars ($500,000.00); and 
 (h) extensions,
refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (g) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome
terms upon Borrower or its Subsidiary, as the case may be. 

  
 43 

 “Permitted Investments” are: 

(a) Investments (including, without limitation, Subsidiaries) existing on the Effective Date which are shown on the Perfection Certificate;
and 
 (b) (i) Investments consisting of Cash Equivalents; and (ii) any Investments permitted by Borrower’s investment policy, as
amended from time to time, provided that such investment policy (and any such amendment thereto) has been approved in writing by Agent and the Lenders (but specifically excluding any Investments in any Subsidiaries unless otherwise permitted
hereunder); 
 (c) Investments consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in
the ordinary course of Borrower; 
 (d) Investments consisting of deposit accounts (but only to the extent that Borrower is permitted to
maintain such accounts pursuant to Section 6.6 of this Agreement) in which Agent has a first priority perfected security interest for the ratable benefit of the Lenders; 

(e) Investments accepted in connection with Transfers permitted by Section 7.1; 

(f) Investments consisting of (i) travel advances and employee relocation loans and other employee loans and advances in the ordinary
course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to employee stock purchase plans or agreements approved by the Board; 

(g) Investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and in
settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 
 (h)
Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are not Affiliates, in the ordinary course of business; provided that this paragraph (h) shall not apply to
Investments of Borrower in any Subsidiary; and 
 (i) Permitted Acquisitions. 

“Permitted Liens” are: 

(a) Liens existing on the Effective Date which are shown on the Perfection Certificate or arising under this Agreement and the other Loan
Documents; 
 (b) Liens for taxes, fees, assessments or other government charges or levies, either (i) not due and payable or
(ii) being contested in good faith and for which Borrower maintains adequate reserves on Borrower’s Books, provided that no notice of any such Lien has been filed or recorded under the Internal Revenue Code of 1986, as amended, and
the Treasury Regulations adopted thereunder; 
 (c) purchase money Liens or capital leases (i) on Equipment acquired or held by
Borrower incurred for financing the acquisition of the Equipment securing no more than Five Hundred Thousand Dollars ($500,000.00) in the aggregate amount outstanding, or (ii) existing on Equipment when acquired, if the Lien is confined to the
property and improvements and the proceeds of the Equipment; 

  
 44 

 (d) Liens of carriers, warehousemen, suppliers, or other Persons that are possessory in
nature arising in the ordinary course of business so long as such Liens attach only to Inventory, securing liabilities in the aggregate amount not to exceed Fifty Thousand Dollars ($50,000.00) and which are not delinquent or remain payable without
penalty or which are being contested in good faith and by appropriate proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto; 

(e) Liens to secure payment of workers’ compensation, employment insurance, old-age pensions,
social security and other like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA); 
 (f) Liens
incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (e), but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the
principal amount of the indebtedness may not increase; 
 (g) leases or subleases of real property granted in the ordinary course of
Borrower’s business (or, if referring to another Person, in the ordinary course of such Person’s business), and leases, subleases, nonexclusive licenses or sublicenses of personal property (other than Intellectual Property) granted in the
ordinary course of Borrower’s business (or, if referring to another Person, in the ordinary course of such Person’s business), if the leases, subleases, licenses and sublicenses do not prohibit granting Agent a security interest therein;

 (h) non-exclusive licenses of Intellectual Property granted to third parties in the ordinary
course of business, and licenses of Intellectual Property that could not result in a legal transfer of title of the licensed property that may be exclusive in respects other than territory and that may be exclusive as to territory only as to
discrete geographical areas outside of the United States; and 
 (i) Liens arising from attachments or judgments, orders, or decrees in
circumstances not constituting an Event of Default under Sections 8.4 and 8.7. 
 “Person” is any individual, sole
proprietorship, partnership, limited liability company, joint venture, company, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency.

 “Prepayment Premium” shall be an additional fee, payable to Agent, for the ratable benefit of the Lenders based on their
Pro Rata Share, with respect to the Term Loan Advances (provided, however, that the Unaccrued Final Payment shall be payable solely to SVB), in an amount equal to: 

(a) for a prepayment of the Term Loan Advances made on or prior to the first (1st)
anniversary of the Effective Date, the sum of (i) the Unaccrued Final Payment plus (ii) three percent (3.0%) of the outstanding principal balance of the Term Loan Advances immediately prior to such prepayment; 

(b) for a prepayment of the Term Loan Advances made after the first (1st) anniversary of
the Effective Date but on or prior to the second (2nd) anniversary of the Effective Date, the sum of (i) the Unaccrued Final Payment plus (ii) two percent (2.0%) of the outstanding
principal balance of the Term Loan Advances immediately prior to such prepayment; and 
 (c) for a prepayment of the Term Loan Advances made
after the second (2nd) anniversary of the Effective Date, the sum of (i) the Unaccrued Final Payment plus (ii) one percent (1.0%) of the outstanding principal balance of the Term Loan
Advances immediately prior to such prepayment. 

  
 45 

 Notwithstanding the foregoing, Lenders agree to waive the Prepayment Premium, and no
Prepayment Premium is due, if Lenders close on a refinance and redocumentation of the Term Loan Advances (in their sole and absolute discretion) on or prior to the Term Loan Maturity Date. 

“Prime Rate” is the rate of interest per annum from time to time published in the money rates section of The Wall Street
Journal or any successor publication thereto as the “prime rate” then in effect; provided that, in the event such rate of interest is less than zero, such rate shall be deemed to be zero for purposes of this Agreement; and provided further
that if such rate of interest, as set forth from time to time in the money rates section of The Wall Street Journal, becomes unavailable for any reason as determined by Agent, the “Prime Rate” shall mean the rate of interest per annum
announced by SVB as its prime rate in effect at its principal office in the State of California (such SVB announced Prime Rate not being intended to be the lowest rate of interest charged by SVB in connection with extensions of credit to debtors);
provided that, in the event such rate of interest is less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Prior Loan Agreement” is defined in Recital A of this Agreement. 

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

“Registered Organization” is any “registered organization” as defined in the Code with such additions to such term
as may hereafter be made. 
 “Remaining Months Liquidity” means as of a date of determination (a) Liquidity on such
date divided by (b) Average EBDA for the period ending on such date. 
 “Removal Effective Date” is defined in
Section 10.10(d). 
 “Representatives” is defined in Section 13.9. 

“Requirement of Law” is as to any Person, the organizational or governing documents of such Person, and any law (statutory or
common), treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is
subject. 
 “Responsible Officer” is any of the Chief Executive Officer, President, Chief Financial Officer, and Controller
of Borrower. 
 “Restricted License” is any material license or other agreement with respect to which Borrower is the
licensee (a) that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license or agreement or any other property, or (b) for which a default under or termination of could
interfere with the Agent’s right to sell any Collateral. 
 “SEC” shall mean the Securities and Exchange Commission,
any successor thereto, and any analogous Governmental Authority. 
 “Securities Account” is any “securities
account” as defined in the Code with such additions to such term as may hereafter be made. 

  
 46 

 “Securities Corp.” is AKILI SECURITIES CORP., a Delaware corporation. 

“Subordinated Debt” is indebtedness incurred by Borrower subordinated to all of Borrower’s now or hereafter indebtedness
to Agent and the Lenders (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Agent and the Lenders entered into between Agent, the Lenders and the other creditor), on terms acceptable to
Agent and the Lenders. 
 “Subsidiary” is, as to any Person, a corporation, partnership, limited liability company or other
entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of
directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. Unless the
context otherwise requires, each reference to a Subsidiary herein shall be a reference to a Subsidiary of Borrower. 

“SVB” is defined in the preamble hereof. 

“SVB Innovation Fund” is defined in the preamble hereof. 

“Term A Loan Advance” and “Term A Loan Advances” are defined in Section 2.2(a). 

“Term A Loan Draw Period” is the period of time commencing upon the Effective Date and continuing through the earlier to
occur of (a) June 30, 2022; provided, however, that such date shall be September 30, 2022 if the aggregate original principal amount of Term A Loan Advances made by the Lenders on or prior to June 30, 2022 is equal to at least
Fifteen Million Dollars ($15,000,000.00) or (b) an Event of Default. 
 “Term B Loan Advance” is defined in
Section 2.2(a). 
 “Term B Loan Draw Period” is the period of time commencing upon the occurrence of the Performance
Milestone and continuing through the earlier to occur of (a) December 31, 2022 or (b) an Event of Default. 
 “Term C
Loan Advance” and “Term C Loan Advances” are defined in Section 2.2(a). 
 “Term C Loan Draw
Period” is the period of time commencing upon the occurrence of the Third Tranche Availability Event and continuing through the earlier to occur of (a) December 31, 2022 or (b) an Event of Default. 

“Term Loan Advance” and “Term Loan Advances” are defined in Section 2.2(a). 

“Term Loan Amortization Date” is June 1, 2023; provided, however, if the Performance Milestone occurs on or prior to
December 31, 2022, the Term Loan Amortization Date shall be June 1, 2024. 
 “Term Loan Commitment” means, for
any Lender, the obligation of such Lender to make a Term Loan Advance as and when available, up to the principal amount shown on Schedule 1. 

“Term Loan Commitments” means the aggregate amount of such commitments of all Lenders. 

  
 47 

 “Term Loan Commitment Percentage” means, as to any Lender at any time, the
percentage (carried out to the fourth decimal place) of the Term Loan Commitments represented by such Lender’s Term Loan Commitment at such time. The initial Term Loan Commitment Percentage of each Lender is set forth opposite the name of such
Lender on Schedule 1. 
 “Term Loan Maturity Date” is May 1, 2025. 

“Tested Quarter” is defined in Section 6.7. 

“Third Tranche Availability Event” means the occurrence of all of the following: (a) Borrower has provided a written
request to Agent requesting that the Term C Loan Draw Period commence; (b) each Lender has received all necessary internal and credit approvals for the Term C Loan Draw Period to commence; (c) Agent has inspected Borrower’s Accounts,
the Collateral, and Borrower’s Books pursuant to Section 6.10 of this Agreement, with results satisfactory to each Lender in its sole and absolute discretion; (d) no Event of Default exists at the time the Term C Loan Draw Period is
to commence or would exist as a result of the Term C Loan Draw Period commencing; (e) the Performance Milestone has occurred; and (f) each Lender has provided written approval in its sole discretion that the Term C Loan Draw Period will
commence. For clarity, upon satisfaction of each of the conditions in (a) through (e), the determination of whether to commence the Term C Loan Draw Period shall be in the Lenders’ sole discretion and shall in no event occur automatically.

 “Trademarks” means any trademark and servicemark rights, whether registered or not, applications to register and
registrations of the same and like protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks. 

“Transfer” is defined in Section 7.1. 

“Unaccrued Final Payment” is defined in Section 2.2(a). 

“Warrant” means, collectively, (a) that certain warrant to purchase stock dated as of December 21, 2018 between
Borrower and SVB, (b) that certain warrant to purchase stock dated as of December 21, 2018 between Borrower and WestRiver Innovation Lending Fund VIII, L.P., (c) that certain warrant to purchase stock dated as of August 10, 2020
between Borrower and SVB, (d) that certain warrant to purchase stock dated as of the Effective Date between Borrower and SVB and (e) that certain warrant to purchase stock dated as of the Effective Date between Borrower and SVB Innovation
Fund, in each case, as may be amended, modified, supplemented and/or restated from time to time. 
 “Wells Fargo Account”
is defined in Section 6.6(a). 
 [Signature Page Follows.] 

  
 48 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as a
sealed instrument under the laws of the Commonwealth of Massachusetts as of the Effective Date. 
  

			
	BORROWER:
	
	AKILI INTERACTIVE LABS, INC.
		
	 By.
	 	/s/ Santosh Shanbhag
	 Name: Santosh Shanbhag

	 Title: Chief Financial Officer

	
	AGENT:
	
	SILICON VALLEY BANK, as Agent
		
	 By.
	 	/s/ Sam Subilia
	 Name: Sam Subilia

	 Title: Director

	
	 LENDERS:

	
	SILICON VALLEY BANK
		
	 By.
	 	/s/ Sam Subilia
	 Name: Sam Subilia

	 Title: Director

 

			
	 SVB INNOVATION CREDIT FUND VIII, L.P., as Lender

 
 By: SVB Innovation Credit Partners VIII, LLC,

a Delaware limited liability company, its General Partner

		
	By.	 	/s/ Ryan Grammar
	Name: Ryan Grammar
	Title: Senior Managing Director

  
 [Signature Page to
Amended and Restated Loan and Security Agreement] 

 SCHEDULE 1 

LENDERS AND COMMITMENTS 

TERM A LOAN COMMITMENT 
  

									
	 Lender
	  	Term A Loan Commitment	 	  	Term A Loan
Commitment Percentage	 
	 Silicon Valley Bank
	  	$	17,500,000.00	 	  	 	50.0	% 
	 SVB Innovation Credit Fund VIII, L.P.
	  	$	17,500,000.00	 	  	 	50.0	% 
	 TOTAL
	  	$	35,000,000.00	 	  	 	100.0	% 
		  	  
	  
	 	  	  
	  
	 

 TERM B LOAN COMMITMENT 
  

									
	 Lender
	  	Term B Loan Commitment	 	  	Term B Loan Commitment
Percentage	 
	 Silicon Valley Bank
	  	$	2,500,000.00	 	  	 	50.0	% 
	 SVB Innovation Credit Fund VIII, L.P.
	  	$	2,500,000.00	 	  	 	50.0	% 
	 TOTAL
	  	$	5,000,000.00	 	  	 	100.0	% 
		  	  
	  
	 	  	  
	  
	 

 TERM C LOAN COMMITMENT 
  

									
	 Lender
	  	Term C Loan Commitment	 	  	Term C Loan Commitment
Percentage	 
	 Silicon Valley Bank
	  	$	5,000,000.00	 	  	 	50.0	% 
	 SVB Innovation Credit Fund VIII, L.P.
	  	$	5,000,000.00	 	  	 	50.0	% 
	 TOTAL
	  	$	10,000,000.00	 	  	 	100.0	% 
		  	  
	  
	 	  	  
	  
	 

 EXHIBIT A - COLLATERAL DESCRIPTION 

The Collateral consists of all of Borrower’s right, title and interest in and to the following personal property: 

All goods, Accounts (including health-care receivables), Equipment, Inventory, contract rights or rights to payment of money, leases, license
agreements, franchise agreements, General Intangibles (except as provided below), commercial tort claims, documents, instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts, certificates
of deposit, fixtures, letters of credit rights (whether or not the letter of credit is evidenced by a writing), securities, and all other investment property, supporting obligations, and financial assets, whether now owned or hereafter acquired,
wherever located; and all Borrower’s Books relating to the foregoing, and any and all claims, rights and interests in any of the above and all substitutions for, additions, attachments, accessories, accessions and improvements to and
replacements, products, proceeds and insurance proceeds of any or all of the foregoing. 
 Notwithstanding the foregoing, the Collateral
does not include any Intellectual Property; provided, however, the Collateral shall include all Accounts and all proceeds of Intellectual Property. If a judicial authority (including a U.S. Bankruptcy Court) would hold that a security interest in
the underlying Intellectual Property is necessary to have a security interest in such Accounts and such property that are proceeds of Intellectual Property, then the Collateral shall automatically, and effective as of the Effective Date, include the
Intellectual Property to the extent necessary to permit perfection of Agent’s, for the ratable benefit of the Lenders, security interest in such Accounts and such other property of Borrower that are proceeds of the Intellectual Property. 

Pursuant to the terms of a certain negative pledge arrangement with Agent and the Lenders, Borrower has agreed not to encumber any of its
Intellectual Property without Agent and the Lenders’ prior written consent. 

 EXHIBIT B 

COMPLIANCE STATEMENT 
  

			
	 TO:    SILICON VALLEY BANK, as Agent, SVB, and SVB Innovation Fund

FROM: AKILI INTERACTIVE LABS, INC.
	  	Date: ___________

 Under the terms and conditions of the Amended and Restated Loan and Security Agreement by and among Borrower,
Agent and the Lenders (the “Agreement”), Borrower is in complete compliance for the period ending ___________ with all required covenants except as noted below. Attached are the required documents supporting the certification.
Attached are the required documents evidencing such compliance, setting forth calculations prepared in accordance with GAAP consistently applied from one period to the next except as explained in an accompanying letter or footnotes. Capitalized
terms used but not otherwise defined herein shall have the meanings given them in the Agreement. 
 Please indicate compliance status by
circling Yes/No under “Complies” column. 
  

					
	 Reporting Covenants
	  	 Required
	  	 Complies

	Monthly financial statements with Compliance Statement	  	Monthly within 30 days	  	Yes No
	Annual financial statement (CPA Audited)	  	FYE within 180 days	  	Yes No
	Filed 10-Q, 10-K and 8-K	  	Within 5 days after filing with SEC	  	Yes No
	Board-Approved Projections	  	Within 60 days of Borrower’s FYE, and amended/updated	  	Yes No

  

													
	 Financial Covenant
	  	Required	 	 	Actual	 	  	Complies	 
	 Maintain as indicated:
	  				 				  			
	 Minimum EndeavorRX Revenue (trailing three month)(tested quarterly)
	  	 
	≥ $___ *
	 
	 	 	$___	 	  	 	Yes No N/A	 

  

	*	 As set forth in Section 6.7. Not tested for any Tested Quarter (a) with respect to which Borrower
maintained the Minimum Cash Balance at all times during the period commencing on the first day of such Tested Quarter through and including the date that is 30 days after the last day of such Tested Quarter, or (b) ending prior to the Funding
Date of the first Term B Loan Advance. 

 Other Matters 

 

					
	Have there been any amendments of or other changes to the capitalization table of Borrower and to the Operating Documents of Borrower or any of its Subsidiaries? If yes, provide copies of any such amendments or changes with this
Compliance Statement.	  	 Yes
	  	 No

			
	Has Borrower maintained unrestricted cash at SVB equal to the lesser of (i) 100.0% of the Dollar value of all of Borrower’s consolidated cash, including any Subsidiaries’, Affiliates’, or related entities’
cash, in the aggregate at all financial institutions, and (ii) 105.0% of the then-outstanding Obligations of Borrower to Agent and the Lenders, at all times during the month ending on the date set forth above?	  	 Yes
	  	 No

 The following financial covenant analyses and information set forth in Schedule 1 attached
hereto are true and accurate as of the date of this Compliance Statement. 
 The following are the exceptions with respect to the statements
above: (If no exceptions exist, state “No exceptions to note.”) 
  

	
	 
	 
	 

  
 2 

 Schedule 1 to Compliance Certificate 

Financial Covenants of Borrower 
 In
the event of a conflict between this Schedule and the Agreement, the terms of the Agreement shall govern. 
 Dated: _____________ 

 

	I.	 Minimum EndeavorRX Revenue (Section 6.7) (tested quarterly for the trailing three month period ending on
the last day of each quarter ending on and after the Funding Date of the first Term B Loan Advance) 

 Required: __________
(see chart below) 
  

					
	 Quarter Ending
	  	EndeavorRX Revenue	 
	 June 30, 2021
	  	$	268,450.00	 
	 September 30, 2021
	  	$	898,275.00	 
	 December 31, 2021
	  	$	2,106,300.00	 
	 March 31, 2022
	  	$	4,206,285.00	 
	 June 30, 2022
	  	$	6,231,108.00	 
	 September 30, 2022
	  	$	8,312,740.00	 
	 December 31, 2022
	  	$	10,820,696.00	 
	 March 31, 2023
	  	$	13,669,909.00	 
	 June 30, 2023
	  	$	17,355,925.00	 
	 September 30, 2023
	  	$	21,411,268.00	 
	 December 31, 2023*
	  	$	25,873,779.00	 

  

	*	 See Section 6.7 for periods ending after December 31, 2023. 

Actual: 
 A. Revenue (calculated in accordance
with GAAP) from Borrower’s EndeavorRx product         $_____ 
 Is line A equal to or greater than the amount
set forth above? 
 _____ No, not in
compliance                        _____ Yes, in
compliance                         _____ N/A* 
  

	*	 Not tested for any Tested Quarter (a) with respect to which Borrower maintained the Minimum Cash Balance
at all times during the period commencing on the first day of such Tested Quarter through and including the date that is 30 days after the last day of such Tested Quarter, or (b) ending prior to the Funding Date of the first Term B Loan
Advance. 

 Exhibit 10.17 

EXHIBIT C 
 LOAN
PAYMENT/ADVANCE REQUEST FORM 
 DEADLINE FOR SAME DAY
PROCESSING IS 1:00 P.M. EASTERN TIME 
  

			
	Fax To:	  	Date: ______________        

  

			
	 LOAN PAYMENT: AKILI INTERACTIVE LABS, INC.

		
	 From Account #
                                         
                           
	  	To Account #
                                         
                           
	 (Deposit Account #)
	  	(Loan Account #)
		
	 Principal $
                                         
                                   
	  	and/or Interest $
                                         
                                   
		
	 Authorized Signature:
                                        

	  	Phone Number:
                                        

		
	 Print Name/Title:
                                        
        
	  	

 
  

			
	 LOAN ADVANCE:
	  	
	 Complete Outgoing Wire Request section below if all or a portion of the funds from this loan advance are for
an outgoing wire.
	  	
		
	 From Account #
                                         
                           
	  	To Account #
                                         
                           
	 (Loan Account #)
	  	(Deposit Account #)
	
	 Amount of Term Loan Advance $
                                         
       

	 All Borrower’s representations and warranties in the Amended and Restated Loan and Security
Agreement are true, correct and complete in all material respects on the date of the request for an advance; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified
or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date.

		
	 Authorized Signature:
                                        

	  	Phone Number:
                                        

		
	 Print Name/Title:
                                         
       
	  	

 
  

			
	 OUTGOING WIRE REQUEST: 
Complete only
if all or a portion of funds from the loan advance above is to be wired. 
Deadline for same day processing is 1:00 pm, Eastern Time

		
	 Beneficiary Name:
                                         
                           
	  	Amount of Wire: $
                                         
                           
	 Beneficiary Bank:
                                         
                           
	  	Account Number:
                                         
                           
	 City and State:
                                         
                           
	  	
		
	 Beneficiary Bank Transit (ABA) #:
                                
	  	Beneficiary Bank Code (Swift, Sort, Chip, etc.):
		  	(For international Wire Only) _____________
		
	 Intermediary Bank:
                                         
                   
	  	Transit (ABA) #:
	
	 For Further Credit to:
                                         
                                         
                                         
                                         
            
 Special Instruction:
                                         
                                         
                                         
                                         
            

	
	 By signing below, I (we) acknowledge and agree that my (our) funds transfer request shall be
processed in accordance with and subject to the terms and conditions set forth in the agreements(s) covering funds transfer service(s), which agreements(s) were previously received and executed by me (us).

		
	 Authorized Signature:
                                         
                       
	  	2nd Signature (if required):
                                         
                       
		
	 Print Name/Title:
                                         
                       
	  	Print Name/Title:
                                         
                       
		
	 Telephone #:
                                         
                       
	  	Telephone #:
                                         
                       

 

 EXHIBIT D 

Form of Disbursement Letter 

[see attached] 

 DISBURSEMENT LETTER 

[DATE] 
 The undersigned,
being the duly elected and acting ______________________ of AKILI INTERACTIVE LABS, INC. a Delaware corporation (“Borrower”), does hereby certify to (a) SILICON VALLEY BANK, a California corporation
(“SVB”), in its capacity as administrative agent and collateral agent (“Agent”), (b) SILICON VALLEY BANK, a California corporation, as a lender, (c) SVB INNOVATION CREDIT FUND VIII, L.P., a
Delaware limited partnership (“SVB Innovation Fund”), as a lender (SVB and SVB Innovation Fund and each of the other “Lenders” from time to time a party hereto are referred to herein collectively as the
“Lenders” and each individually as a “Lender”) in connection with that certain Loan and Security Agreement dated as of [ ], by and among Borrower, Agent and the Lenders from time to time party thereto
(the “Loan Agreement”; with other capitalized terms used below having the meanings ascribed thereto in the Loan Agreement) that: 

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

[Balance of Page Intentionally Left Blank] 

 7. The proceeds of the Term Loan Advance shall be disbursed as follows: 

 

					
	 Disbursement from SVB:
	  			
	 Loan Amount
	  	$	______________	 
	 Plus:
	  			
	 —Deposit Received
	  	$	______________	 
	 Less:
	  			
	 —Existing Debt Payoff
	  	($	______________	) 
	 —[Interim Interest]
	  	($	______________	) 
	 —Lender’s Legal Fees
	  	($	______________	)* 
	 Net Proceeds due from SVB:
	  	$	______________	 
	 Disbursement from SVB Innovation Fund:
	  			
	 Loan Amount:
	  	$	______________	 
	 Net Proceeds due from SVB Innovation Fund:
	  	$	______________	 
	 TOTAL TERM LOAN ADVANCE NET PROCEEDS FROM LENDERS
	  	$	______________	 
	 [Disbursement from AGENT:] [Cumulative and not duplicative of the amount set forth
above]
	  			
	 Loan Amount
	  	$	______________	 
	 Plus:
	  			
	 —Deposit Received
	  	$	______________	 
	 Less:
	  			
	 —Commitment Fee
	  	($	______________	) 
	 —Existing Debt Payoff
	  	($	______________	) 
	 —[Interim Interest]
	  	($	______________	) 
	 —Lender’s Legal Fees
	  	($	______________	) 
	 Net Proceeds due from Agent
	  	$	______________	 

 8. The aggregate net proceeds of the Term Loan Advance shall be transferred to the Designated Deposit Account
as follows: 
  

							
		  	Account Name:	  	                                      
                                      	  	
				
		  	Bank Name:	  	Silicon Valley Bank	  	
				
		  	Bank Address:	  	 3003 Tasman Drive
 Santa Clara, California
95054
	  	
				
		  	Account Number:	  	                                      
                                      	  	
				
		  	ABA Number:	  	                                      
                                      	  	

 Dated as of the date first set forth above. 

 

			
	BORROWER:
	
	AKILI INTERACTIVE LABS, INC.

			
		
	By	 	 
	Name:	 	 
	Title:	 	 

  

			
	AGENT:
	
	SILICON VALLEY BANK, as Agent
		
	By	 	 
	Name:	 	 
	Title:	 	 

  

			
	LENDER:
	
	SILICON VALLEY BANK
		
	By	 	 
	Name:	 	 
	Title:	 	 

  

			
	LENDER:
	
	 SVB INNOVATION CREDIT FUND VIII, L.P.,

By: SVB Innovation Credit Partners VIII, LLC,
 a Delaware limited
liability company, its General Partner

			
		
	By	 	 
	Name:	 	 
	Title:	 	 

  
 [Signature page to
Disbursement Letter]

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