Document:

EX-4.1

 Exhibit 4.1 

AVALANCHE BIOTECHNOLOGIES, INC. 

SECOND AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 

THIS SECOND AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT (the “Agreement”) is entered into as of May 11, 2016, by and
among Avalanche Biotechnologies, Inc., a Delaware corporation (the “Company”) and the investors listed on Exhibit A hereto, referred to hereinafter as the “Investors” and each individually as an
“Investor.” 
 RECITALS 

WHEREAS, the Company and certain of the Stockholders have previously entered into that certain Investor Rights Agreement, dated as of
September 7, 2010, as amended and restated by that certain Amended and Restated Investor Rights Agreement, dated as of April 16, 2014, by and among the Company and the parties thereto (the “Prior Agreement”), for the
purpose of setting forth the terms and conditions pursuant to which certain Investors may cause the Company to register shares of Common Stock issuable to the Investors and certain other matters as set forth therein; 

WHEREAS, the Company, Annapurna Therapeutics SAS, a French simplified joint stock company (société par actions
simplifiée) (“Annapurna”), and those other persons parties thereto (the “New Holders”) have entered into that certain Acquisition Agreement, dated as of January 29, 2016 (as amended, the
“Acquisition Agreement”), pursuant to which the Company acquired all outstanding shares of Annapurna in exchange for a number of newly issued shares of Common Stock specified in the Acquisition Agreement (the “Acquisition
Transaction”); 
 WHEREAS, as an inducement for, and as a condition to, the Acquisition Transaction, the Company and the New
Holders desire to deem each of the New Holders as an Investor, a Holder and a party hereunder, and to amend and restate the Prior Agreement in its entirety as set forth herein; 

WHEREAS, pursuant to Section 5.10 of the Prior Agreement, the New Holders may become a party to this Agreement and be deemed as an
Investor and a Holder in connection with the Acquisition Transaction in accordance with Section 4.6(c) of the Prior Agreement; 

WHEREAS, pursuant to Section 5.5 of the Prior Agreement, the Prior Agreement may be amended or modified, and the obligations of the
Company and the rights of the Holders (as defined in the Prior Agreement) under the Prior Agreement may be waived, only upon the written consent of the Company and (i) the holders of at least a majority of the then-outstanding Series A
Preferred Stock (as defined in the Prior Agreement) and (ii) the holders of a majority of the then-outstanding Series B Preferred Stock (as defined in the Prior Agreement) (the “Prior Agreement Amendment Requirement”); and 

WHEREAS, no shares of Series A Preferred Stock and no shares of Series B Preferred Stock are outstanding as of the date of this Agreement, and
the execution of this Agreement by the Company and the New Holders satisfies the Prior Agreement Amendment Requirement. 

 NOW, THEREFORE, in consideration of these premises and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 SECTION 1. GENERAL. 

 

	 	1.1.	Definitions. As used in this Agreement the following terms shall have the following respective meanings: 

  

	 	(a)	“Acquisition” has the meaning ascribed to it in the Company’s Certificate of Incorporation as in effect as of the date hereof. 

 

	 	(b)	“Additional Holders” means all individuals set forth on Exhibit B. 

  

	 	(c)	“Affiliate” means any person or entity who or which, directly or indirectly, controls, is controlled by, or is under common control with the relevant Holder, including, without limitation, any general
partner, managing partner, manager, member, officer or director of such Holder or any venture capital fund now or hereafter existing that is controlled by one or more general partners or managing members of, shares the same management or advisory
company with, or is otherwise affiliated with, such Holder; provided, however, that “Affiliate” with respect to those Holders that are advisory clients of Fidelity or T. Rowe Price shall include other funds and accounts
managed by Fidelity or T. Rowe Price, respectively. 

  

	 	(d)	“Common Stock” means the common stock of the Company, par value $0.0001 per share. 

  

	 	(e)	“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

  

	 	(f)	“Fidelity” means Fidelity Management & Research Company and any successor or affiliated investment advisor to the Fidelity Investors. 

 

	 	(g)	“Fidelity Investors” means the Investors that are advisory clients of Fidelity with respect to holdings of shares in the Company. For the sake of clarity, as of the date hereof the Fidelity Investors
marked with an asterisk on Exhibit A attached hereto. 

  

	 	(h)	“Form S-3” means such form under the Securities Act as in effect on the date hereof or any successor or similar short-form registration statement under the Securities Act subsequently adopted by the SEC
that permits inclusion or incorporation of substantial information by reference to other documents filed by the Company with the SEC. 

  
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	 	(i)	“Holder” means any record or beneficial owner of Registrable Securities that have not been sold to the public or any assignee of record of such Registrable Securities in accordance with Section 2.9
hereof. 

  

	 	(j)	“Preferred Stock” means shares of the Company’s Series A Preferred Stock and Series B Preferred Stock. 

  

	 	(k)	“Register,” “registered,” and “registration” refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act,
and the declaration or ordering of effectiveness of such registration statement by the SEC. 

  

	 	(l)	“Registrable Securities” means (i) shares of Common Stock issued upon conversion of the Preferred Stock prior to the date hereof, (ii) shares of Common Stock issued to the New Holders pursuant
to the Acquisition Transaction, and (iii) any shares of Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in
exchange for or in replacement of, such shares of Common Stock described in clauses (i) and (ii). Notwithstanding the foregoing, Registrable Securities shall not include any securities (x) sold by any person to the public either pursuant
to a registration statement or Rule 144, (y) sold in a private transaction in which the transferor’s rights under Section 2 of this Agreement are not assigned, or (z) that are transferable without volume limitations pursuant to
Rule 144. 

  

	 	(m)	“Registration Expenses” means all expenses incurred by the Company in complying with Sections 2.2, 2.3 and 2.4 hereof, including, without limitation, all registration and filing fees, printing expenses,
fees and disbursements of counsel for the Company, reasonable fees and disbursements not to exceed twenty-five thousand dollars ($25,000) of a single special counsel for the Holders, blue sky fees and expenses and the expense of any special audits
incident to or required by any such registration (but excluding the compensation of regular employees of the Company which shall be paid in any event by the Company). 

 

	 	(n)	“Rule 144” means Rule 144 promulgated under the Securities Act. 

  

	 	(o)	“SEC” or “Commission” means the U.S. Securities and Exchange Commission. 

  

	 	(p)	“Securities Act” means the Securities Act of 1933, as amended. 

  

	 	(q)	“Selling Expenses” means all underwriting discounts and selling commissions applicable to any sale of Registrable Securities. 

  
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	 	(r)	“Special Registration Statement” means (i) any registration statement on Form S-8 or any similar form relating to any employee benefit plan, (ii) with respect to any corporate reorganization
or transaction under Rule 145 of the Securities Act, any registration statement on Form S-4 or any similar form related to the issuance or resale of securities issued in such a transaction, or (iii) any registration statement related to
securities issued upon conversion of debt securities. 

  

	 	(s)	“T. Rowe Price” means T. Rowe Price Associates, Inc. and any successor or affiliated investment advisor to the T. Rowe Price Investors. 

 

	 	(t)	“T. Rowe Price Investors” means the Investors that are advisory clients of T. Rowe Price with respect to holdings of shares in the Company. For the sake of clarity, the T. Rowe Price Investors as of the
date hereof are marked with an asterisk on Exhibit A attached hereto. 

 SECTION 2. REGISTRATION; RESTRICTIONS ON TRANSFER. 

 

	 	2.1.	Restrictions on Transfer. 

  

	 	(a)	Each Holder agrees not to transfer or make any disposition of all or any portion of its Registrable Securities unless and until: 

  

	 	(i)	there is then in effect a registration statement under the Securities Act covering such proposed transfer or disposition and such transfer or disposition is made in accordance with such registration statement; or

  

	 	(ii)	(A) the transferee has agreed in writing to be bound by the terms of this Agreement, (B) such Holder shall have notified the Company of the proposed disposition, and (C) if reasonably requested by the Company,
such Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company (it being understood that internal securities counsel of T. Rowe Price shall be deemed acceptable for transfers by the T. Rowe Price
Investors and internal securities counsel of Fidelity shall be deemed acceptable for transfers by the Fidelity Investors), that such transfer or disposition will not require registration of such transfer or disposed Registrable Securities under the
Securities Act. It is agreed that the Company will not require opinions of counsel for transactions made pursuant to Rule 144, except in unusual circumstances as determined in good faith by the Company. The Company will not require any transferee of
any transfer or disposition made pursuant to Rule 144 to be bound by the terms of this Agreement if the shares of Common Stock so transferred do not remain Registrable Securities hereunder following such transfer (and clause (A) above shall not
apply to such transfer or disposition). 

  
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	 	(b)	Notwithstanding the provisions of subsection (a) above, no such restriction shall apply to a transfer by a Holder (i) that is a partnership transferring to its partners or former partners in accordance with
partnership interests, (ii) that is a corporation transferring to a wholly owned subsidiary or a parent corporation that owns all of the capital stock of the Holder, (iii) that is a limited liability company transferring to its members or
former members in accordance with their interest in the limited liability company, (iv) that is an individual transferring to such individual Holder’s family member or trust for the benefit of such individual Holder, (v) pursuant to a
merger or reorganization of a U.S. registered mutual fund, (vi) by a T. Rowe Price Investor to any entity managed by its registered investment advisor, or (vii) by a Fidelity Investor to any entity managed by its registered investment
advisor; provided that, in each case, the transferee shall agree in writing to be subject to the terms of this Agreement to the same extent as if such transferee were an original Holder hereunder. 

 

	 	(c)	Each certificate representing Registrable Securities shall be stamped or otherwise imprinted, and, in the case of Registrable Securities held in book-entry or other electronic form, the account at which such Registrable
Securities are held shall be designated, with legends substantially similar to the following (in addition to any legend required under applicable state securities laws): 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY
NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS
NOT REQUIRED. 
 THE SALE, PLEDGE, HYPOTHECATION OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE TERMS AND
CONDITIONS OF A CERTAIN INVESTOR RIGHTS AGREEMENT BY AND BETWEEN THE STOCKHOLDER AND THE COMPANY. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY. 

 

	 	(d)	 The Company shall be obligated to (i) remove such legend from any Registrable Securities or accounts in
which such securities are held, as applicable, and (ii) reissue promptly unlegended Registrable Securities as necessary at the request of any Holder thereof, in each case, in connection with a sale of Registrable Securities by a Holder pursuant
to Rule 144 and the Holder shall have obtained an opinion of counsel (which counsel may be counsel to the Company) reasonably acceptable to the Company (it 

  
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being understood that internal securities counsel of T. Rowe Price shall be deemed acceptable for requests by the T. Rowe Price Investors and it being understood that internal securities counsel
of Fidelity shall be deemed acceptable for requests by the Fidelity Investors) to the effect that the Registrable Securities proposed to be disposed of may lawfully be so disposed pursuant to Rule 144 without registration, qualification and legend;
provided that the second legend listed above shall be removed only at such time as the Holder of such Registrable Securities is no longer subject to any restrictions hereunder or in connection with a transfer or disposition in which the
shares of Common Stock so transferred do not remain Registrable Securities hereunder following such transfer. 

  

	 	(e)	Any legend endorsed on an instrument pursuant to applicable state securities laws and the stop-transfer instructions with respect to such securities shall be removed upon receipt by the Company of an order of the
appropriate blue sky authority authorizing such removal or upon delivery of opinion of counsel reasonably acceptable to the Company (it being understood that internal securities counsel of the T. Rowe Price shall be deemed acceptable with respect to
the T. Rowe Price Investors) to the effect that such legend may be removed. 

  

	 	2.2.	Demand Registration. 

  

	 	(a)	Subject to the conditions of this Section 2.2, if the Company shall receive a written request from the Holders of a majority of the Registrable Securities (the “Initiating Holders”) that the
Company file a registration statement under the Securities Act covering the registration of at least a majority of the Registrable Securities then outstanding (or a lesser percent if the anticipated aggregate offering price, net of underwriting
discounts and commissions, would exceed $10,000,000), then the Company shall, within thirty (30) days of the receipt thereof, give written notice of such request to all Holders, and subject to the limitations of this Section 2.2, effect,
as expeditiously as reasonably possible, the registration under the Securities Act of all Registrable Securities that all Holders request to be registered. Any registration statement filed by the Company pursuant to this Section 2.2 shall be on
Form S-3 whenever the Company is qualified to use such form. 

  

	 	(b)	 If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an
underwritten offering, they shall so advise the Company as a part of their request made pursuant to this Section 2.2 or any request pursuant to Section 2.4, and the Company shall include such information in the written notice referred to
in Section 2.2(a) or Section 2.4(a), as applicable. In such event, the right of any Holder to include its Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the
inclusion of such Holder’s Registrable Securities in the underwritten offering to the 

  
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extent provided herein. All Holders proposing to distribute their Registrable Securities through such underwritten offering shall enter into an underwriting agreement in customary form with the
underwriter or underwriters selected for such underwriting by the Holders of a majority of the Registrable Securities held by all Initiating Holders (which underwriter or underwriters shall be reasonably acceptable to the Company). Notwithstanding
any other provision of this Section 2.2 or Section 2.4, if the underwriter advises the Company that marketing factors require a limitation of the number of securities to be offered in the applicable underwritten offering (including
Registrable Securities), then the Company shall so advise all Holders of Registrable Securities that would otherwise be offered in such underwritten offering, and the number of Registrable Securities that may be included in such underwritten
offering shall be allocated to the Holders of such Registrable Securities on a pro rata basis based on the number of Registrable Securities held by all such Holders (including the Initiating Holders). Any Registrable Securities excluded or withdrawn
from such underwritten offering shall be withdrawn from the registration. 

  

	 	(c)	The Company shall not be required to effect a registration pursuant to this Section 2.2: 

  

	 	(i)	after the Company has effected two (2) registrations pursuant to this Section 2.2, and such registrations have been declared or ordered effective; 

 

	 	(ii)	during the period starting with the date of filing of, and ending on the date one hundred eighty (180) days following the effective date of the registration statement pertaining to a public offering, other than
pursuant to a Special Registration Statement; provided that the Company makes reasonable good faith efforts to cause such registration statement to become effective; 

 

	 	(iii)	if within thirty (30) days of receipt of a written request from Initiating Holders pursuant to Section 2.2(a), the Company gives notice to the Holders of the Company’s intention to file a registration
statement for a public offering, other than pursuant to a Special Registration Statement within ninety (90) days; 

  

	 	(iv)	if the Company shall furnish to Holders requesting a registration statement pursuant to this Section 2.2 a certificate signed by the Chairman of the Board stating that in the good faith judgment of the Board of
Directors of the Company, it would be seriously detrimental to the Company and its stockholders for such registration statement to be effected at such time, in which event the Company shall have the right to defer such filing for a period of not
more than one hundred twenty (120) days after receipt of the request of the Initiating Holders; provided that such right to delay a request shall be exercised by the Company not more than twice in any twelve (12) month period;

  
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	 	(v)	if the Initiating Holders propose to dispose of Registrable Securities that may be immediately registered on Form S-3 pursuant to a request made pursuant to Section 2.4 below; or 

 

	 	(vi)	in any particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification or compliance.

  

	 	2.3.	Piggyback Registrations. The Company shall notify all Holders and Additional Holders in writing at least fifteen (15) days prior to the filing of any registration statement under the Securities Act for
purposes of a public offering of securities of the Company (including, but not limited to, registration statements relating to secondary offerings of securities of the Company, but excluding Special Registration Statements) and will afford each such
Holder or Additional Holder an opportunity to include in such registration statement all or part of such Registrable Securities held by such Holder or Additional Holder. Each Holder or Additional Holder desiring to include in any such registration
statement all or any part of the Registrable Securities held by it shall, within fifteen (15) days after the above-described notice from the Company, so notify the Company in writing. Such notice shall state the intended method of disposition
of the Registrable Securities by such Holder or Additional Holder. If a Holder or Additional Holder decides not to include all of its Registrable Securities in any registration statement thereafter filed by the Company, such Holder or Additional
Holder shall nevertheless continue to have the right to include any Registrable Securities in any subsequent registration statement or registration statements as may be filed by the Company with respect to offerings of its securities, all upon the
terms and conditions set forth herein. For purposes of this Section 2.3 only, the shares of Common Stock set forth opposite each Additional Holder’s name on Exhibit B shall be deemed Registrable Securities. 

 

	 	(a)	 Underwriting. If the registration statement for which the Company gives notice under this Section 2.3
is for an underwritten offering, the Company shall so advise the Holders and Additional Holders of Registrable Securities. In such event, the right of any such Holder or Additional Holder to include Registrable Securities in a registration pursuant
to this Section 2.3 shall be conditioned upon such Holder or Additional Holder’s participation in such underwritten offering and the inclusion of such Holder or Additional Holder’s Registrable Securities in such underwritten offering
to the extent provided herein. All Holders or Additional Holders proposing to distribute their Registrable Securities through such underwritten offering shall enter into an underwriting agreement in customary form with the underwriter or
underwriters selected for such 

  
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underwriting by the Company. Notwithstanding any other provision of this Agreement, if the underwriter determines in good faith that marketing factors require a limitation of the number of
securities to be offered in such underwritten offering, the number of securities that may be included in the underwritten offering shall be allocated, (i) first, to the Company; (ii) second, to the Holders on a pro rata basis
based on the total number of Registrable Securities held by the Holders; (iii) third, to the Additional Holders on a pro rata basis based on the total number of Registrable Securities held by the Additional Holders; and
(iv) fourth, to any stockholder of the Company (other than a Holder) on a pro rata basis. If any Holder or Additional Holder disapproves of the terms of any such underwritten offering, such Holder or Additional Holder may elect to
withdraw therefrom by written notice to the Company and the underwriter, delivered at least ten (10) business days prior to the effective date of the registration statement. Any Registrable Securities excluded or withdrawn from such
underwriting shall be excluded and withdrawn from the registration. For any Holder or Additional Holder that is a partnership, limited liability company or corporation, the partners, retired partners, members, retired members and stockholders of
such Holder or Additional Holder, or the estates and family members of any such partners, retired partners, members and retired members, and any trusts for the benefit of any of the foregoing person shall be deemed to be a single Holder or
Additional Holder, as applicable, and any pro rata reduction with respect to such Holder or Additional Holder shall be based upon the aggregate amount of Registrable Securities entitled to registration rights under this Agreement that are owned by
all entities and individuals included in such Holder or Additional Holder, as defined in this sentence. The T. Rowe Price Investors and Fidelity Investors, respectively, shall each be deemed to be a single “Holder,” for purpose of any pro
rata reduction under this Section 2.2(a) and any such pro rata reduction with respect to any such “Holder” shall be based upon the aggregate amount of Registrable Securities entitled to registration rights under this Agreement that
are owned by all entities and individuals included in such “Holder,” as defined in this sentence. 

  

	 	(b)	Right to Terminate Registration. The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2.3 whether or not any Holder or Additional Holder has elected
to include their Registrable Securities in such registration, and shall promptly notify any Holder or Additional Holder that has elected to include their Registrable Securities in such registration of such termination or withdrawal. The Registration
Expenses of such withdrawn registration shall be borne by the Company in accordance with Section 2.5 hereof. 

  

	 	2.4.	Form S-3 Registration. In case the Company shall receive from any Holder or Holders of Registrable Securities a written request or requests that the Company effect a registration on Form S-3 and any related
qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or Holders, the Company shall: 

  
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	 	(a)	promptly give written notice of the proposed registration, and any related qualification or compliance, to all other Holders of Registrable Securities; and 

 

	 	(b)	as soon as practicable, effect such registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such
Holder’s or Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other Holder or Holders joining in such request as are specified in a written request
given within fifteen (15) days after receipt of such written notice from the Company; provided, however, that the Company shall not be obligated to effect any such registration, qualification or compliance pursuant to this
Section 2.4: 

  

	 	(i)	if Form S-3 is not available to the Company for such offering by the Holders, or 

  

	 	(ii)	if the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at an aggregate
price to the public of less than one million dollars ($1,000,000), or 

  

	 	(iii)	if within thirty (30) days of receipt of a written request from any Holder or Holders pursuant to this Section 2.4, the Company gives notice to such Holder or Holders of the Company’s intention to make a
public offering within ninety (90) days, other than pursuant to a Special Registration Statement; 

  

	 	(iv)	if the Company shall furnish to the Holders a certificate signed by the Chairman of the Board of Directors of the Company stating that in the good faith judgment of the Board of Directors of the Company, it would be
seriously detrimental to the Company and its stockholders for such Form S-3 registration to be effected at such time, in which event the Company shall have the right to defer the filing of the Form S-3 registration statement for a period of not more
than one hundred twenty (120) days after receipt of the request of the Holder or Holders under this Section 2.4; provided that such right to delay a request shall be exercised by the Company not more than twice in any twelve
(12) month period, or 

  

	 	(v)	if the Company has already effected two (2) registrations on Form S-3 for the Holders pursuant to this Section 2.4, or 

  
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	 	(vi)	in any particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification or compliance.

  

	 	(c)	Subject to the foregoing, the Company shall file a Form S-3 registration statement covering the Registrable Securities and other securities so requested to be registered as soon as practicable after receipt of the
requests of the Holders. Registrations effected pursuant to this Section 2.4 shall not be counted as demands for registration or registrations effected pursuant to Section 2.2. All Registration Expenses incurred in connection with
registrations requested pursuant to this Section 2.4 after the first two (2) registrations shall be paid by the selling Holders pro rata in proportion to the number of Registrable Securities to be sold by each such Holder in any such
registration. 

  

	 	2.5.	Expenses of Registration. Except as specifically provided herein, all Registration Expenses incurred in connection with any registration, qualification or compliance pursuant to Section 2.2, 2.3 or 2.4
herein shall be borne by the Company. All Selling Expenses incurred in connection with any registrations hereunder, shall be borne by the holders of the securities so registered pro rata on the basis of the number of shares so registered. The
Company shall not, however, be required to pay for expenses of any registration proceeding begun pursuant to Section 2.2 or 2.4, the request of which has been subsequently withdrawn by the Initiating Holders, unless (a) the withdrawal is
based upon material adverse information concerning the Company of which the Initiating Holders were not aware at the time of such request or (b) the Holders of a majority of Registrable Securities agree to deem such registration to have been
effected as of the date of such withdrawal for purposes of determining whether the Company shall be obligated pursuant to Section 2.2(c)(i) or 2.4(b)(v), as applicable, to undertake any subsequent registration, in which event such right shall
be forfeited by all Holders. If the Holders are required to pay the Registration Expenses, such expenses shall be borne by the holders of securities (including Registrable Securities) requesting such registration in proportion to the number of
securities for which registration was requested. If the Company is required to pay the Registration Expenses of a withdrawn offering pursuant to clause (a) above, then such registration shall not be deemed to have been effected for purposes of
determining whether the Company shall be obligated pursuant to Section 2.2(c)(i) or 2.4(b)(v), as applicable, to undertake any subsequent registration. 

  

	 	2.6.	Obligations of the Company. Whenever required to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible: 

 

	 	(a)	 prepare and file with the SEC a registration statement with respect to such Registrable Securities and use all
reasonable efforts to cause such registration statement to become effective, and, upon the request of the 

  
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Holders of a majority of the Registrable Securities registered thereunder, keep such registration statement effective for up to thirty (30) days (to be measured from the expiration of any
lockup period related to such registration, if applicable) or, if earlier, until the Holder or Holders have completed the distribution related thereto; provided, however, that at any time, upon written notice to the participating
Holders and for a period not to exceed sixty (60) days thereafter (the “Suspension Period”), the Company may delay the filing or effectiveness of any registration statement or suspend the use or effectiveness of any
registration statement (and the Initiating Holders hereby agree not to offer or sell any Registrable Securities pursuant to such registration statement during the Suspension Period) if the Company reasonably believes that there is or may be in
existence material nonpublic information or events involving the Company, the failure of which to be disclosed in the prospectus included in the registration statement could result in a Violation (as defined below). In the event that the Company
shall exercise its right to delay or suspend the filing or effectiveness of a registration hereunder, the applicable time period during which the registration statement is to remain effective shall be extended by a period of time equal to the
duration of the Suspension Period. The Company may extend the Suspension Period for an additional consecutive sixty (60) days with the consent of the holders of a majority of the Registrable Securities registered under the applicable
registration statement, which consent shall not be unreasonably withheld. If so directed by the Company, all Holders registering Registrable Securities under such registration statement shall (i) not offer to sell any Registrable Securities
pursuant to the registration statement during the period in which the delay or suspension is in effect after receiving notice of such delay or suspension; and (ii) use their best efforts to deliver to the Company (at the Company’s expense)
all copies, other than permanent file copies then in such Holders’ possession, of the prospectus relating to such Registrable Securities current at the time of receipt of such notice. Notwithstanding the foregoing, the Company shall not be
required to file, cause to become effective or maintain the effectiveness of any registration statement other than a registration statement on Form S-3 that contemplates a distribution of securities on a delayed or continuous basis pursuant to Rule
415 under the Securities Act. 

  

	 	(b)	Prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection with such registration statement as may be necessary to comply with the provisions of
the Securities Act with respect to the disposition of all securities covered by such registration statement for the period set forth in Section 2.6(a) above. 

 

	 	(c)	Furnish to the Holders such number of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements of the Securities Act, and such other documents as they may reasonably request in
order to facilitate the disposition of Registrable Securities owned by them. 

  
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	 	(d)	Use its reasonable efforts to register and qualify the securities covered by such registration statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the
Holders; provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions. 

 

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

  

	 	(f)	Notify each Holder of Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event as a
result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein
not misleading in the light of the circumstances then existing. The Company will use reasonable efforts to amend or supplement such prospectus in order to cause such prospectus not to include any untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. 

  

	 	(g)	Use its reasonable efforts to furnish, on the date that such Registrable Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters, (i) an opinion, dated as of
such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and (ii) a
letter, dated as of such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering addressed
to the underwriters. 

  

	 	(h)	Comply with all applicable rules and regulations of the Commission, and make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve
(12) months, but not more than eighteen (18) months, beginning with the first month after the effective date of the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act
and Rule 158 thereunder (or any comparable successor provisions). 

  
 13 

	 	2.7.	Delay of Registration; Furnishing Information. 

  

	 	(a)	No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation or
implementation of this Section 2. 

  

	 	(b)	It shall be a condition precedent to the obligations of the Company to take any action pursuant to Section 2.2, 2.3 or 2.4 that the selling Holders shall furnish to the Company such information regarding
themselves, the Registrable Securities held by them and the intended method of disposition of such securities as shall be required to effect the registration of their Registrable Securities. 

 

	 	(c)	The Company shall have no obligation with respect to any registration requested pursuant to Section 2.2 or Section 2.4 if the number of shares or the anticipated aggregate offering price of the Registrable
Securities to be included in the registration does not equal or exceed the number of shares or the anticipated aggregate offering price required to originally trigger the Company’s obligation to initiate such registration as specified in
Section 2.2 or Section 2.4, whichever is applicable. 

  

	 	2.8.	Indemnification. In the event any Registrable Securities are included in a registration statement under Sections 2.2, 2.3 or 2.4: 

 

	 	(a)	 To the extent permitted by law, the Company will indemnify and hold harmless each Holder, the partners, members,
officers and directors of each Holder, any underwriter (as defined in the Securities Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any
losses, claims, damages, or liabilities (joint or several) to which they may become subject under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively a “Violation”) by the Company: (i) any untrue statement or alleged untrue statement of a material fact contained in
such registration statement or incorporated reference therein, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state therein a
material fact required to be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or
regulation promulgated under the Securities Act, the Exchange Act or any state 

  
 14 

	 	
securities law in connection with the offering covered by such registration statement; and the Company will reimburse each such Holder, partner, member, officer, director, underwriter or
controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided however, that the indemnity agreement contained in this
Section 2.8(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the
Company be liable in any such case for any such loss, claim, damage, liability or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity with written information furnished expressly
for use in connection with such registration by such Holder, partner, member, officer, director, underwriter or controlling person of such Holder or underwriter. 

  

	 	(b)	 To the extent permitted by law, each Holder severally and not jointly, will, if Registrable Securities held by
such Holder are included in the securities as to which such registration qualifications or compliance is being effected, indemnify and hold harmless the Company, each of its directors, its officers and each person, if any, who controls the Company
within the meaning of the Securities Act or the Exchange Act, any underwriter and any other Holder selling securities under such registration statement or any of such other Holder’s partners, directors or officers or any person who controls
such Holder, against any losses, claims, damages or liabilities (joint or several) to which the Company or any such director, officer, controlling person, underwriter or other such Holder, or partner, director, officer or controlling person of such
other Holder may become subject under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any of the following
statements: (i) any untrue statement or alleged untrue statement of a material fact contained in such registration statement or incorporated reference therein, including any preliminary prospectus or final prospectus contained therein or any
amendments or supplements thereto, (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged
violation by the Company of the Securities Act (collectively, a “Holder Violation”), in each case to the extent (and only to the extent) that such Holder Violation occurs in reliance upon and in conformity with written information
furnished by such Holder under an instrument duly executed by such Holder and stated to be specifically for use in connection with such registration; and each such Holder will reimburse any legal or other expenses reasonably incurred by the Company
or any such director, officer, controlling person, underwriter or other Holder, or partner, officer, director or controlling person of such 

  
 15 

	 	
other Holder in connection with investigating or defending any such loss, claim, damage, liability or action if it is judicially determined that there was such a Holder Violation;
provided, however, that the indemnity agreement contained in this Section 2.8(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the
consent of the Holder, which consent shall not be unreasonably withheld; provided, further, that in no event shall any indemnity under this Section 2.8 exceed the net proceeds from the offering received by such Holder when
combined with any amounts contributed under Section 2.8(d) by such Holder. 

  

	 	(c)	Promptly after receipt by an indemnified party under this Section 2.8 of notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is
to be made against any indemnifying party under this Section 2.8, deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the
indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party shall have the
right to retain its own counsel, with the fees and expenses thereof to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential
differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action
shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.8 to the extent, and only to the extent, prejudicial to its ability to defend such action, but the omission so to deliver written notice to the
indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 2.8. 

  

	 	(d)	 If the indemnification provided for in this Section 2.8 is held by a court of competent jurisdiction to be
unavailable to an indemnified party with respect to any losses, claims, damages or liabilities referred to herein, the indemnifying party, in lieu of indemnifying such indemnified party thereunder, shall to the extent permitted by applicable law
contribute to the amount paid or payable by such indemnified party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the
indemnified party on the other in connection with the Violation(s) or Holder Violation(s), as the case may be, that resulted in such loss, claim, damage or liability, as well as any other relevant equitable considerations. The relative fault of the
indemnifying party and of the indemnified party shall be determined by a court of law by reference to, among other things, 

  
 16 

	 	
whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party
and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission; provided that in no event shall any contribution by a Holder hereunder exceed the proceeds from the
offering received by such Holder. 

  

	 	(e)	The obligations of the Company and Holders under this Section 2.8 shall survive completion of any offering of Registrable Securities pursuant to a registration statement and, with respect to liability arising from
an offering to which this Section 2.8 would apply that is covered by a registration statement filed before termination of this Agreement, such termination. No indemnifying party, in the defense of any such claim or litigation, shall, except
with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all
liability in respect to such claim or litigation. 

  

	 	2.9.	Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this Section 2 may be assigned by a Holder to a transferee or assignee of Registrable
Securities (for so long as such securities remain Registrable Securities) that (a) is a subsidiary, parent, general partner, limited partner, retired partner, member or retired member, or stockholder of a Holder that is a corporation,
partnership or limited liability company, (b) is a Holder’s family member or trust for the benefit of an individual Holder, (c) acquires at least 25,000 shares of Registrable Securities (as adjusted for stock splits and combinations),
or (d) pursuant to a transfer permitted under Section 2.1(a) or (b) above; provided, however, (i) the transferor shall, within ten (10) days after such transfer, furnish to the Company written notice of the
name and address of such transferee or assignee and the securities with respect to which such registration rights are being assigned, and (ii) such transferee shall agree to be subject to all restrictions set forth in this Agreement.

  

	 	2.10.	Limitation on Subsequent Registration Rights. After the date of this Agreement, the Company shall not, without the prior written consent of a majority of the Holders of then-outstanding Registrable Securities,
enter into any agreement with any holder or prospective holder of any securities of the Company that would grant such holder rights to demand the registration of shares of the Company’s capital stock, or to include such shares in a registration
statement that would reduce the number of shares includable by the Holders. 

  

	 	2.11.	 Lockup Agreement. Each Holder hereby agrees that, if requested by the managing underwriter(s) of an
underwritten public offering, such Holder shall enter into lock-up agreements with such managing underwriter(s) that provides for restrictions on such Holder’s ability to sell, transfer, make any short sale of,

  
 17 

	 	
grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any Common Stock (or other securities) of the Company held by such
Holder immediately before the effective date of the registration statement for such underwritten public offering during a period lasting no longer than 90 days following the date of the final prospectus for such underwritten public offering, except
as otherwise agreed to by the managing underwriter(s) and except for sales made as part of such underwritten public offering and such other exceptions for dispositions and other transfers as may be agreed upon by such Holder and the managing
underwriter(s) in connection with such underwritten public offering. The obligations described in this Section 2.11 shall not apply to any Special Registration Statements. 

 

	 	2.12.	Agreement to Furnish Information. Each Holder agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriters that are consistent with the Holder’s
obligations under Section 2.11 or that are necessary to give further effect thereto. In addition, if requested by the Company or the representative of the underwriters of any underwritten public offering of Common Stock (or other securities) of
the Company, each Holder shall provide, within ten (10) days of such request, such information as may be reasonably required by the Company or such representative in connection with the completion of any public offering of the Company’s
securities pursuant to a registration statement filed under the Securities Act. The obligations described in Section 2.11 and this Section 2.13 shall not apply to a Special Registration Statement. The Company may impose stop-transfer
instructions with respect to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of said day period. Each Holder agrees that any transferee of any Registrable Securities shall be bound by
Section 2.11 and this Section 2.13. The underwriters of the Company’s stock are intended third party beneficiaries of Section 2.11 and shall have the right, power and authority to enforce the provisions of Section 2.11 as
though they were a party hereto. 

  

	 	2.13.	Rule 144 Reporting. With a view to making available to the Holders the benefits of certain rules and regulations of the SEC which may permit the sale of the Registrable Securities to the public without
registration, the Company agrees to use its best efforts to: 

  

	 	(a)	Make and keep public information available, as those terms are understood and defined in SEC Rule 144 or any similar or analogous rule promulgated under the Securities Act; 

 

	 	(b)	File with the SEC, in a timely manner, all reports and other documents required of the Company under the Exchange Act; and 

  

	 	(c)	So long as a Holder owns any Registrable Securities, furnish to such Holder forthwith upon request: a written statement by the Company as to its compliance with the reporting requirements of the Exchange Act; a copy of
the most recent annual or quarterly report of the Company filed with the Commission; and such other reports and documents as a Holder may reasonably request in connection with availing itself of any rule or regulation of the SEC allowing it to sell
any such Registrable Securities without registration. 

  
 18 

	 	2.14.	Termination of Registration Rights. The right of any Holder to request registration or inclusion of Registrable Securities in any registration pursuant to Section 2.2, Section 2.3, or Section 2.4
hereof shall terminate upon the earlier of: (i) August 5, 2017; or (ii) such time as such Holder, as reflected on the Company’s list of stockholders, holds less than 1% of the Company’s outstanding Common Stock and all
Registrable Securities of the Company held by and issuable to such Holder (and its Affiliates) may be sold pursuant to Rule 144 during any ninety (90) day period without limitation. Upon such termination, such shares shall cease to be
Registrable Securities hereunder for all purposes. 

 SECTION 3. COVENANTS OF THE COMPANY. 

 

	 	3.1.	Confidentiality of Records. Each Investor agrees to use the same degree of care as such Investor uses to protect its own confidential information to keep confidential any information furnished to such Investor
hereof that the Company identifies as being confidential or proprietary (so long as such information is not in the public domain), except that such Investor may disclose such proprietary or confidential information (a) to any registered
investment advisor, partner, limited partner, prospective partner or limited partner, subsidiary or parent of such Investor as long as such registered investment advisor, partner, limited partner, prospective partner or limited partner, subsidiary
or parent is advised of and agrees or has agreed to be bound by the confidentiality provisions of this Section 3.1 or comparable restrictions; (b) at such time as it enters the public domain through no fault of such Investor; (c) that
is communicated to it free of any obligation of confidentiality; (d) that is developed by Investor or its agents independently of and without reference to any confidential information communicated by the Company; or (d) as required by
applicable law. For the sake of clarity, nothing contained in this Section 3.1 shall in any way restrict or impair the obligations of T. Rowe Price or Fidelity, to report the investment of its respective advisory clients (as Investors) in the
Company in accordance with applicable laws and regulations, without any requirement of prior notice to the Company. 

  

	 	3.2.	Directors’ Liability and Indemnification. The Company’s Certificate of Incorporation and Bylaws shall provide (a) for elimination of the liability of director to the maximum extent permitted by law
and (b) for indemnification of directors for acts on behalf of the Company to the maximum extent permitted by law. 

  

	 	3.3.	Publicity. The Company shall not use the name or trademarks of (a) T. Rowe Price or the T. Rowe Price Investors or (b) Fidelity or the Fidelity Investors without the prior review and written consent of
T. Rowe Price or Fidelity, respectively. 

  
 19 

 SECTION 4. MISCELLANEOUS. 
  

	 	4.1.	Governing Law. This Agreement shall be governed by and construed under the laws of the State of California in all respects as such laws are applied to agreements among California residents entered into and to be
performed entirely within California, without reference to conflicts of laws or principles thereof. The parties agree that any action brought by either party under or in relation to this Agreement, including without limitation to interpret or
enforce any provision of this Agreement, shall be brought in, and each party agrees to and does hereby submit to the jurisdiction and venue of, any state or federal court located in the County of Santa Clara, California. THE PARTIES TO THIS
AGREEMENT HEREBY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THEIR RIGHT TO A TRIAL BY JURY WITH RESPECT TO DISPUTES ARISING UNDER THIS AGREEMENT AND THE RELATED AGREEMENTS AND CONSENT TO A BENCH TRIAL WITH THE APPROPRIATE JUDGE ACTING
AS THE FINDER OF FACT. 

  

	 	4.2.	Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the parties hereto and their respective successors, assigns, heirs,
executors, and administrators and shall inure to the benefit of and be enforceable by each person who shall be a holder of Registrable Securities from time to time; provided, however, that prior to the receipt by the Company of
adequate written notice of the transfer of any Registrable Securities specifying the full name and address of the transferee, the Company may deem and treat the person listed as the holder of such securities in its records as the absolute owner and
holder of such securities for all purposes, including the payment of dividends or any redemption price. 

  

	 	4.3.	Entire Agreement. This Agreement, the Exhibits and Schedules hereto and the other documents delivered pursuant thereto constitute the full and entire understanding and agreement between the parties with regard to
the subjects hereof and no party shall be liable or bound to any other in any manner by any oral or written representations, warranties, covenants and agreements except as specifically set forth herein and therein. Each party expressly represents
and warrants that it is not relying on any oral or written representations, warranties, covenants or agreements outside of this Agreement. The Prior Agreement is hereby amended in its entirety and restated herein, and all provisions of, rights
granted and covenants made in the Prior Agreement are hereby waived, released and superseded in their entirety and shall have no further force or effect. 

  

	 	4.4.	Severability. In the event one or more of the provisions of this Agreement should, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability
shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. 

  
 20 

	 	4.5.	Amendment and Waiver. 

  

	 	(a)	Except as otherwise expressly provided, this Agreement may be amended or modified, and the obligations of the Company and the rights of the Holders under this Agreement may be waived, only upon the written consent of
the Company and the Holders of at least a majority of the then-outstanding Registrable Securities. 

  

	 	(b)	Notwithstanding the foregoing, any amendment, modification or waiver that adversely affects the rights of an Investor in a manner that is materially different than the effect on the rights of the other Investors shall
also require the written consent of such adversely affected Investor. 

  

	 	(c)	For the purposes of determining the number of Holders or Investors entitled to vote or exercise any rights hereunder, the Company shall be entitled to rely solely on the list of record holders of its Common Stock as
maintained by or on behalf of the Company. 

  

	 	4.6.	Delays or Omissions. It is agreed that no delay or omission to exercise any right, power, or remedy accruing to any party, upon any breach, default or noncompliance by another party under this Agreement shall
impair any such right, power, or remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of any similar breach, default or noncompliance thereafter occurring. It is further
agreed that any waiver, permit, consent, or approval of any kind or character on any party’s part of any breach, default or noncompliance under the Agreement or any waiver on such party’s part of any provisions or conditions of this
Agreement must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement, by law, or otherwise afforded to any party, shall be cumulative and not alternative.

  

	 	4.7.	Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed
electronic mail or facsimile if sent during normal business hours of the recipient; if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid,
or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the party to be notified at the address as set forth
on the signature pages hereof or Exhibit A hereto or at such other address or electronic mail address as such party may designate by ten (10) days advance written notice to the other parties hereto. 

  
 21 

	 	4.8.	Attorneys’ Fees. In the event that any suit or action is instituted under or in relation to this Agreement, including without limitation to enforce any provision in this Agreement, the prevailing party in
such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this Agreement, including without limitation, such reasonable fees and expenses of
attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals. 

  

	 	4.9.	Titles and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. 

 

	 	4.10.	Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. 

 

	 	4.11.	Aggregation of Stock. All shares of Registrable Securities held or acquired by entities or persons that are Affiliates of each other shall be aggregated together for the purpose of determining the availability of
any rights under this Agreement. 

  

	 	4.12.	Pronouns. All pronouns contained herein, and any variations thereof, shall be deemed to refer to the masculine, feminine or neutral, singular or plural, as to the identity of the parties hereto may require.

  

	 	4.13.	Termination. This Agreement shall terminate and be of no further force or effect upon the earlier of (i) an Acquisition; or (ii) August 5, 2017. 

 

	 	4.14.	Specific Performance. In addition to any and all other remedies that may be available at law in the event of any breach of this Agreement, each Investor shall be entitled to seek specific performance of the
agreements and obligations of the Company hereunder and to such other injunction or other equitable relief as may be granted by a court of competent jurisdiction, without having to prove actual damages or that monetary damages would be inadequate.

 [THIS SPACE INTENTIONALLY LEFT BLANK] 

  
 22 

 IN WITNESS WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 
  

					
	COMPANY:
	
	AVALANCHE BIOTECHNOLOGIES, INC.
		
	By:	 	 /s/ Paul B. Cleveland

		 	Name:	 	Paul B. Cleveland
		 	Title:	 	President & Chief Executive Officer
		
	Address:	 	1035 O’Brien Drive
		 		 	Menlo Park, CA 94025
		 		 	Attention: Chief Executive Officer

 IN WITNESS WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 
  

					
	COMPANY:
	
	AVALANCHE BIOTECHNOLOGIES, INC.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	Address:	 	1035 O’Brien Drive
		 		 	Menlo Park, CA 94025
		 		 	Attention: Chief Executive Officer
	
	NEW INVESTORS:
	
	AMBER SALZMAN
	
	 /s/ Amber Salzman

 IN WITNESS WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 
  

					
	COMPANY:
	
	AVALANCHE BIOTECHNOLOGIES, INC.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	Address:	 	1035 O’Brien Drive
		 		 	Menlo Park, CA 94025
		 		 	Attention: Chief Executive Officer
	
	NEW INVESTORS:
	
	INSERM TRANSFERT INITIATIVE SAS
		
	By:	 	 /s/ Francois Thomas

		 	Name:	 	Francois Thomas
		 	Title:	 	President & Managing Partner

 IN WITNESS WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 
  

					
	COMPANY:
	
	AVALANCHE BIOTECHNOLOGIES, INC.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	Address:	 	1035 O’Brien Drive
		 		 	Menlo Park, CA 94025
		 		 	Attention: Chief Executive Officer
	
	NEW INVESTORS:
	
	HÉLÈNE PUCCIO 
	
	 /s/ Hélène Puccio

 IN WITNESS WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 
  

					
	COMPANY:
	
	AVALANCHE BIOTECHNOLOGIES, INC.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	Address:	 	1035 O’Brien Drive
		 		 	Menlo Park, CA 94025
		 		 	Attention: Chief Executive Officer
		 		 	
	
	NEW INVESTORS:
	
	DECHERT LLP
		
	By:	 	 /s/ Corey Smith

		 	Name:	 	Corey Smith
		 	Title:	 	Chief Financial Officer

 IN WITNESS WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 
  

					
	COMPANY:
	
	AVALANCHE BIOTECHNOLOGIES, INC.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	Address:	 	1035 O’Brien Drive
		 		 	Menlo Park, CA 94025
		 		 	Attention: Chief Executive Officer
	
	NEW INVESTORS:
	
	RONALD CRYSTAL
	
	 /s/ Ronald Crystal

 IN WITNESS WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 
  

							
	COMPANY:
	
	AVALANCHE BIOTECHNOLOGIES, INC.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	Address:	 	1035 O’Brien Drive
		 		 	Menlo Park, CA 94025
		 		 	Attention: Chief Executive Officer
	
	NEW INVESTORS:
	
	VERSANT SIDE FUND IV, L.P.
		
	By:	 	Versant Ventures IV, LLC
		 	its General Partner
			
		 	By:	 	 /s/ Robin L. Praeger

		 		 	 Name:
	 	Robin L. Praeger
		 		 	 Title:
	 	Managing Director

 IN WITNESS WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 
  

							
	COMPANY:
	
	AVALANCHE BIOTECHNOLOGIES, INC.
		
	By:	 	  

		 	Name:	 		 	
		 	Title:	 		 	
		
	Address:	 	1035 O’Brien Drive
		 		 	Menlo Park, CA 94025
		 		 	Attention: Chief Executive Officer
	
	NEW INVESTORS:
	
	VERSANT VENTURE CAPITAL IV, L.P.
		
	By:	 	Versant Ventures IV, LLC
		 	its General Partner
			
		 	By:	 	 /s/ Robin L. Praeger

		 		 	Name:	 	Robin L. Praeger
		 		 	Title:	 	Managing Director

 IN WITNESS WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 
  

							
	COMPANY:
	
	AVALANCHE BIOTECHNOLOGIES, INC.
		
	By:	 	  

		 	 Name:
 Title:
	 		 	
		
	Address:	 	1035 O’Brien Drive
		 		 	Menlo Park, CA 94025
		 		 	Attention: Chief Executive Officer
	
	NEW INVESTORS:
	
	FPCI FONDS BIOTHÉRAPIES
	INNOVANTES ET MALADIES RARES
		
	By:	 	BPIFRANCE INVESTISSEMENT SAS
			
		 	By:	 	 /s/ Laurent Arthaud

		 		 	Name:	 	Laurent Arthaud
		 		 	Title:	 	Managing Director
		 		 		 	BPIFRANCE INVESTISSEMENT

 IN WITNESS WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 
  

							
	COMPANY:
	
	AVALANCHE BIOTECHNOLOGIES, INC.
		
	By:	 	  

		 	 Name:
 Title:
	 		 	
		
	Address:	 	1035 O’Brien Drive
		 		 	Menlo Park, CA 94025
		 		 	Attention: Chief Executive Officer
	
	NEW INVESTORS:
	
	VERSANT CAPITAL IV
	(SWITZERLAND) GMBH
		
	By:	 	 /s/ Thomas Woiwode

		 	Name:	 	Thomas Woiwode
		 	Title:	 	Director

 IN WITNESS WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 
  

			
	COMPANY:
	
	AVALANCHE BIOTECHNOLOGIES, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	Address: 1035 O’Brien Drive
	 Menlo Park, CA 94025

	 Attention: Chief Executive Officer

	
	NEW INVESTORS:
	
	VIRGINIE BONNAMAIN
	
	 /s/ Virginie Bonnamain

 IN WITNESS WHEREOF, the parties hereto have executed this SECOND AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 
  

			
	COMPANY:
	
	AVALANCHE BIOTECHNOLOGIES, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	Address: 1035 O’Brien Drive
	 Menlo Park, CA 94025

	 Attention: Chief Executive Officer

	
	NEW INVESTORS:
	
	MATTHIEU COUTET
	
	 /s/ Matthieu CoutetEX-10.1

 Exhibit 10.1 
  

			
	

	  	 1035 O’Brien Drive, Menlo Park, CA 94025

Tel +1-650-272-6269 | Fax +1-650-362-1908

 January 29, 2016 
 Carlo
Russo, M.D. 
 Re: Employment Terms for Executive Vice President and Chief Medical Officer 

Dear Carlo, 
 In connection with the acquisition (the
“Acquisition”) of all outstanding shares of Annapurna Therapeutics SAS (the “Target”) by Avalanche Biotechnologies, Inc. (the “Company”), this letter agreement (the “Agreement”) memorializes the employment
terms for your employment with the Company in the position of Executive Vice President and Chief Medical Officer of the Company. These terms will become effective on the closing of the Acquisition (the “Closing Date”). In the event the
Acquisition is not consummated, this Agreement shall be of no force or effect. Your first day of work as Executive Vice President and Chief Medical Officer will be the Closing Date. 

Effective as of the Closing Date, your employment terms will be as follows: 
  

	1.	Duties; Reporting Relationship; Office Location. 

 In the position of Executive Vice President and Chief
Medical Officer, you will serve in an executive capacity and will be required to perform the duties of Executive Vice President and Chief Medical Officer as commonly associated with this position, and other duties commensurate with such position as
may be assigned to you by the President and Chief Operating Officer of the Company from time to time. You will report directly to the President and Chief Operating Officer, and will work at the Company’s offices located in Philadelphia,
Pennsylvania. 
  

	2.	Compensation and Benefits. 

 Your base salary will be Four Hundred and Forty Thousand Dollars ($440,000)
annually, subject to payroll deductions and all required withholdings, representing full-time employment with the Company. Your salary will be paid in accordance with the Company’s standard payroll schedule. 

In addition, for each calendar year starting with 2016 you will be eligible to earn an annual performance bonus with a target bonus amount equal to forty
percent (40%) of your salary earned during the bonus year, provided that you are actively employed from the Closing Date through and including the date of bonus grants. Your annual bonus will be calculated based on attainment of individual
goals (including corporate and personal objectives) to be determined by the Board. Bonus payments will be in the form of cash and will be granted entirely at the discretion of the Board. Any cash bonus payments will be less payroll deductions and
all required withholdings. 

			
	

	  	 1035 O’Brien Drive, Menlo Park, CA 94025

Tel +1-650-272-6269 | Fax +1-650-362-1908

  

 You will be eligible to participate in the Company’s general employee benefits in accordance with the
terms, conditions and limitations of the benefit plans to the extent such plans have been established by the Company. 
  

	3.	Stock Options. 

 In addition to the compensation and benefits described above, the Company will grant
you, upon the Closing Date, a stock option which, when combined with the Rollover Options (as defined below) will give you options to purchase an aggregate of two percent (2%) of the outstanding shares of the Company’s common stock (based
on basic shares outstanding as measured immediately following the consummation of the Acquisition), with the new option grant provided in this Section 3 having a per share exercise price equal to the closing sales price of the Company’s
common stock on the Closing Date and providing that the new option shall vest with respect to 25% of the total option shares on the first anniversary of the Closing Date, and 1/48th of the total
option shares shall vest each month thereafter so that all of the shares subject to the new option are vested and exercisable on the fourth anniversary of the Closing Date. The Company shall file a registration statement on Form S-8 on or prior to
the first anniversary of the Closing Date, registering the offer of the shares of the Company’s common stock subject to the foregoing stock option. For purposes of calculating the number of options required to give you options to purchase an
aggregate of two percent (2%) of the outstanding shares of the Company’s common stock (as described above), the option grant described in this Section 3 shall be combined with the options to purchase Company common stock which you
will receive pursuant to the rollover of your stock options in Target pursuant to the Acquisition agreement (the “Rollover Options”). For good and valuable consideration, you agree that any acceleration of the Rollover Options (either
alone or in combination with another event) which may have occurred in connection with the Acquisition and the other transactions contemplated by the Acquisition agreement is hereby waived, it being further agreed that any such acceleration shall
apply in the event of a change in control transaction involving the Company following the consummation of the Acquisition. 
  

	4.	Confidentiality and Proprietary Information Obligations. 

  

	 	(a)	Company Policies and Proprietary Information Agreement. You will be required to sign the Employee Proprietary Information and Inventions Assignment Agreement attached hereto as Exhibit A (the “Proprietary
Information Agreement”). 

  

	 	(b)	 Adverse or Outside Business Activities. Throughout your employment with the Company, you may engage in civic,
academic teaching and lectures, and not-for-profit activities and up to two for-profit boards so long as such activities do not interfere with the performance of your duties hereunder or present a conflict of interest with the Company. You may not
engage in other employment or undertake any other commercial business activities unless you obtain the prior written consent of the Board. The Company may rescind its consent to your

			
	

	  	 1035 O’Brien Drive, Menlo Park, CA 94025

Tel +1-650-272-6269 | Fax +1-650-362-1908

  

	 	
service as a director of all other corporations or participation in other business or public activities, if the Company, in its sole discretion, determines that such activities compromise or
threaten to compromise the Company’s reputational or business interests or conflict with your duties to the Company. In addition, throughout the term of your employment with the Company, you agree not to, directly or indirectly, without the
prior written consent of the Company, own, manage, operate, join, control, finance or participate in the ownership, management, operation, control or financing of, or be connected as an officer, director, executive, partner, employee, principal,
agent, representative, consultant, licensor, licensee or otherwise with, any business or enterprise engaged in any business which is competitive with or which is reasonably anticipated to be competitive with the Company’s business; provided,
however, that you may purchase or otherwise acquire up to (but not more than) one percent (1%) of any class of securities of any enterprise (but without participating in the activities of such enterprise) if such securities are listed on any
national or regional securities exchange. You hereby represent and warrant that you have disclosed previously to the Board all other employment or other commercial business activities that you already undertake, or intend to undertake (to the extent
currently known by you), during your period of employment with the Company. 

  

	5.	Change in Control and Severance Agreement. 

 Concurrently with the execution of this Agreement, you and
the Company shall enter into the Change in Control and Severance Agreement attached hereto as Exhibit B (the “Severance Agreement”). 
  

	6.	No Conflicts. 

 By signing this Agreement you hereby represent to the Company that, except as previously
disclosed to the Company: (a) your employment with the Company is not prohibited under any employment agreement or other contractual arrangement; and (b) you do not know of any conflicts which would restrict your employment with the
Company. You hereby represent that you have disclosed to the Company any contract you have signed that may restrict your activities on behalf of the Company, and that you are presently in compliance with such contracts, if any. 

 

	7.	At Will Employment. 

 Your employment relationship with the Company will be an “at-will”
arrangement. This means that either you or the Company may terminate your employment at any time, with or without cause, and with or without advance notice. This “at-will” employment relationship cannot be changed except in a written
agreement approved by the Company and signed by you and by a duly authorized officer of the Company. 

			
	

	  	 1035 O’Brien Drive, Menlo Park, CA 94025

Tel +1-650-272-6269 | Fax +1-650-362-1908

  

	8.	Miscellaneous. 

 As required by law, your employment is contingent upon satisfactory proof of your
identity and legal authorization to work in the United States. Additionally, this offer is contingent upon your completion of the employment application, verification of your references, satisfactory completion of a pre-employment background check
(all of which will be completed by the Company prior to the Closing Date) and execution of the Employee Confidentiality and Invention Assignment Agreement and the Acknowledgment of Business Ethics and Conduct Guide and Company Policies. 

Except as specifically set forth in the subsequent paragraph, this Agreement, together with your Proprietary Information Agreement, forms the complete and
exclusive statement of your employment agreement with the Company. The employment terms in this Agreement supersede any other agreements or promises made to you by anyone, whether oral or written, concerning your employment terms. Without limitation
of your rights under the Severance Agreement, the Company will have the right to reassign you, to change your compensation, or to terminate your employment at any time, with or without cause or advance notice. This Agreement will bind the heirs,
personal representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns. If any provision of this Agreement is determined to be invalid or unenforceable,
in whole or in part, this determination shall not affect any other provision of this Agreement and the provision in question shall be modified so as to be rendered enforceable in a manner consistent with the intent of the parties insofar as possible
under applicable law. This Agreement shall be construed and enforced in accordance with the laws of the State of California without regard to conflicts of law principles. Any ambiguity in this Agreement shall not be construed against either party as
the drafter. Any waiver of a breach of this Agreement, or rights hereunder, shall be in writing and shall not be deemed to be a waiver of any successive breach or rights hereunder. This Agreement may be executed in counterparts, which shall be
deemed to be part of one original, and facsimile signatures shall be equivalent to original signatures. 
 Notwithstanding the preceding paragraph,
following the Closing Date you shall remain entitled to the transaction bonus of One Hundred Thousand Dollars ($100,000) awarded to you by the board of directors of Target (which, to the extent unpaid at the Closing Date, the Company will cause to
be paid within five (5) business days of the Closing Date). 
 [Signature page immediately follows] 

			
	

	  	 1035 O’Brien Drive, Menlo Park, CA 94025

Tel +1-650-272-6269 | Fax +1-650-362-1908

  

 Please sign and date this letter and return it to me by the close of business on Friday, January 29,
2016, in order to confirm your employment terms as set forth above. 
 We look forward to a productive and enjoyable work relationship with you. 

 

	
	Sincerely,
	Avalanche Biotechnologies, Inc.:
	
	 /s/ Paul B. Cleveland

	Name: Paul B. Cleveland
	Title: President & Chief Executive Officer
	
	Understood and Accepted:
	
	 /s/ Carlo Russo

	Carlo Russo, M.D.

 Date: January 29, 2016 

			
	

	  	 1035 O’Brien Drive, Menlo Park, CA 94025

Tel +1-650-272-6269 | Fax +1-650-362-1908

  

 EXHIBIT A 

EMPLOYEE CONFIDENTIALITY AND INVENTION ASSIGNMENT AGREEMENT 

 Avalanche Biotechnologies, Inc. 

EMPLOYEE CONFIDENTIALITY AND INVENTION ASSIGNMENT AGREEMENT 

In partial consideration and as a condition of my employment by AVALANCHE BIOTECHNOLOGIES, (the “Company”), and
effective as of the date that my employment by the Company first commenced as set forth below, I, the undersigned, agree as follows: 
 1.
NONDISCLOSURE OF CONFIDENTIAL INFORMATION. 
 1.1. Confidential Information. During the term of my employment, I may receive and
otherwise be exposed to confidential and proprietary information relating to the Company’s business, strategies, designs and technologies, or to proprietary or confidential information relating to the Company’s suppliers, customers or
business partners. Such confidential and proprietary information may include but not be limited to confidential or proprietary information supplied to me with the legend “Confidential” or “Proprietary,” or equivalent, and any of
the following types of information, whether or not marked as confidential or proprietary: (i) information regarding physical or chemical or biological materials (such as, but not limited to, reagents, gene sequences, nucleic acids, cell lines,
media, antibodies, compounds, c-DNAs, antisense nucleotides, proteins and vectors) and techniques for their handling and use; (ii) information regarding ideas, technology and processes (such as, but not limited to, assays, techniques, sketches,
schematics, drawings, works of authorship, models, designs, inventions, know-how, technical documentation, equipment, algorithms, software programs, software source documents, formulae); (iii) information concerning or resulting from research
and development projects and other projects (such as, but not limited to, preclinical and clinical data, design details and specifications, engineering information, and works in process); (iv) business and financial information (such as, but
not limited to, current, future, and proposed products and services, financial information and models, information relating to procurement requirements, purchasing, manufacturing, customer lists, product plans, product ideas, business strategies,
marketing or business plans, financial or personnel matters, investors, employees, business and contractual relationships, business forecasts, sales and merchandising, and information regarding third parties, suppliers, customers, employees,
investors or facilities); (v) Inventions (as defined below), and (iv) information, derivatives, improvements or enhancements created using the foregoing information. (all of the above collectively referred to as “Confidential
Information”). I understand that Confidential Information shall not include information that (a) is in the public domain at the time of disclosure or enters the public domain following disclosure through no fault of mine, (b) is
already in my possession prior to disclosure hereunder (as reflected by my written records), or (c) is required to be disclosed pursuant to an order of any competent court or government agency or rules of a securities exchange. 

1.2. Duties. I acknowledge the confidential and secret character of the Confidential Information, and agree that the Confidential
Information is the sole, exclusive and extremely valuable property of Company. Accordingly, I agree not to use the Confidential Information except in the performance of my authorized duties as an employee of Company, and not to disclose all or any
part of the Confidential Information in any form to any third party, either during or after the term of my employment, without the prior written consent of the Company on a case-by-case basis. Appropriate prior written consent will be determined as
follows: (i) if I am  

  
 1 

 
not an executive officer of the Company, then consent may be obtained from an executive officer of the Company, or (ii) if I am an executive officer of the Company, then from the Board of
Directors of the Company. Upon termination of my employment, I agree to cease using and to return to Company all whole and partial copies and derivatives of the Confidential Information, whether in my possession or under my direct or indirect
control, provided that I am entitled to retain my personal copies of (i) my compensation records, (ii) materials distributed to shareholders generally and (iii) this Agreement. 

2. PROPERTY OF THE COMPANY. All notes, memoranda, reports, drawings, blueprints, manuals, materials, data, emails and other papers and records of every
kind which shall come into my possession at any time after the commencement of my employment with the Company, relating to any Inventions (as defined below) or Confidential Information, shall be the sole and exclusive property of the Company. This
property shall be surrendered to the Company upon termination of my employment with the Company, or upon request by the Company, at any other time either during or after the termination of such employment. I further agree that in the event of
termination of my employment with the Company I will execute a Termination Certificate substantially in the form attached hereto as Exhibit A. 

3. INVENTIONS. 
 3.1.
Disclosure. I shall disclose promptly in writing to an officer or to attorneys of the Company in accordance with the Company’s policies and procedures any idea, invention, work of authorship, whether patentable or unpatentable,
copyrightable or uncopyrightable, including, but not limited to, any documentation, formula, design, device, code, improvement, method, process, discovery, concept, development, machine or contribution, techniques, formulas, formulations, data,
programs, organisms, plasmids, cosmids, bacteriophages, expression vectors, cells, cell lines, tissues, materials, substrates, media, delivery methods or transfection methods, assays, compounds, peptides, proteins, DNA, RNA, and their constructs,
and sequence, genomic, and structural information relating thereto, crystals, optically active materials, ceramics, metals, metal oxides, and organic and inorganic chemical, biological and other material and their progeny, clones and derivatives and
salt forms (any of the foregoing items hereinafter referred to as an “Invention”) I may conceive, make, develop or work on, in whole or in part, solely or jointly with others, during the term of my employment with the Company. The
disclosure required by this Section applies (a) during the period of my employment with the Company and for one year thereafter; (b) with respect to all Inventions whether or not they are conceived, made, developed or worked on by me
during my regular hours of employment with the Company; (c) whether or not the Invention was made at the suggestion of the Company; (d) whether or not the Invention was reduced to drawings, written description, documentation, models or
other tangible form; and (e) whether or not the Invention is related to the general line of business engaged in by the Company. The Company agrees that it will take reasonable precautions to keep Inventions disclosed to it pursuant to this
Section 3.1 in confidence and shall not use any Inventions for its own advantage unless those Inventions are assigned or assignable to the Company pursuant to Section 3.2 or otherwise. 

  
 2 

 3.2. Assignment of Inventions to Company; Exemption of Certain Inventions. I hereby assign
to the Company, and agree to assign automatically without requirement of further writing when first reduced to practice or recorded in a tangible medium, without royalty or any other further consideration, my entire right, title and interest in and
to all Inventions and all intellectual property rights therein that (i) relate to the subject matters related to my employment and exist as of the date of this Agreement, for which I do not have an obligation to assign to any third party or
(ii) I conceive, make, develop or work on during the period of my employment with the Company and for one year thereafter, except those Inventions that I develop entirely on my own time after the date of this Agreement without using the
Company’s equipment, supplies, facilities or Confidential Information, unless those Inventions either (a) relate at the time of conception or reduction to practice of the Invention to the Company’s business, or actual or demonstrably
anticipated research or development of the Company; or (b) result from or are related to any work performed by me for the Company, in which case I agree that any such Inventions shall also be automatically assigned to the Company. I acknowledge
and agree that the Company has hereby notified me that the assignment provided for in Section 3.2(ii) does not apply to any Invention which qualifies fully for exemption from assignment under the provisions of Section 2870 of the
California Labor Code, a copy of which is attached as Exhibit B. I also acknowledge and agree that nothing in this Section 3.2 above limits the assignment of any other rights in or to Confidential Information or other technology or intellectual
property of the Company other than Inventions. 
 3.3. Records. I will make and maintain adequate and current written records
of all Inventions covered by Section 3.1. These records shall be and remain the property of the Company. 
 3.4. Patents and
Other Rights. Subject to Section 3.2, I will assist the Company in obtaining, maintaining and enforcing patents, invention assignments and copyright assignments, and other proprietary rights in connection with any Invention covered by
Section 3.1, and otherwise will assist the Company as reasonably required by the Company to perfect in the Company the rights, title and other interests in my work product granted to the Company under this Agreement. Reasonable costs related to
such assistance, if required, will be paid by the Company. I further agree that my obligations under this Section 3.4 shall continue beyond the termination of my employment with the Company, but if I am called upon to render such assistance
after the termination of such employment, I shall be entitled to a fair and reasonable rate of compensation for such assistance. I shall, in addition, be entitled to reimbursement of any expenses incurred at the request of the Company relating to
such assistance after the term of my employment. I hereby agree to waive any moral rights I may have in any copyrightable work I create on behalf of the Company. If the Company is unable for any reason, after reasonable effort, to secure my
signature on any document needed in connection with the actions specified above, I hereby irrevocably designate and appoint the Company and its duly authorized officers and agents as my agent and attorney in fact, which appointment is coupled with
an interest, to act for and in my behalf to execute, verify and file any such documents and to do all other lawfully permitted acts to further the purposes of this Section 3.4 with the same legal force and effect as if executed by me.

 3.5. Prior Contracts and Inventions; Information Belonging to Third Parties. I represent and warrant that, except as set forth
on Exhibit C hereto, there are no other contracts to assign Inventions that are now in existence between any other person or entity and me. I further represent that (a) I am not obligated under any consulting, employment or other agreement
which would affect the Company’s rights or my duties under this Agreement, (b) there is no action,  

  
 3 

 
investigation, or proceeding pending or threatened, or any basis therefor known to me involving my prior employment or any consultancy or the use of any information or techniques alleged to
be proprietary to any former employer, and (c) the performance of my duties as an employee of the Company will not breach, or constitute a default under any agreement to which I am bound, including, without limitation, any agreement limiting
the use or disclosure of proprietary information acquired in confidence prior to engagement by the Company. I will not, in connection with my employment by the Company, use or disclose to the Company any confidential, trade secret or other
proprietary information of any previous employer or other person to which I am not lawfully entitled. As a matter of record, I attach as Exhibit C of this Agreement a brief description of all Inventions made or conceived by me prior to my employment
with the Company which I desire to be excluded from this Agreement (“Background Technology”). I hereby grant Company a non-exclusive, royalty-free, perpetual and irrevocable, worldwide right to use and sublicense the use of
Background Technology for the purpose of developing, marketing, selling and supporting Company technology, products and services, either directly or through multiple tiers of distribution, but not for the purpose of marketing Background Technology
separately from Company products or services. 
 4. NON-COMPETITION. During the term of my employment by the Company, I will not without the
prior written approval of (i) an executive officer of the Company, in the event that I am not an executive officer of the Company, and (ii) the Board of Directors of the Company, in the event that I am an executive officer of the Company,
(a) engage in any other professional employment or consulting, or (b) directly or indirectly participate in or assist any business which is a current or potential supplier, customer or competitor of the Company. 

5. NON-SOLICITATION. During the term of my employment with the Company and for a period of one (1) year thereafter, I will not solicit or
encourage, or cause others to solicit or encourage, any employees of the Company to terminate their employment with the Company. During the term of my employment with the Company, I will not solicit the business of any customer or client of the
Company on my own behalf or on behalf of any person or entity other than the Company. 
 6. MISCELLANEOUS. The parties’ rights and
obligations under this Agreement will bind and inure to the benefit of their respective successors, heirs, executors, and administrators and permitted assigns. I will not assign this Agreement or its obligations hereunder without the prior written
consent of the Company and any such purported assignment without consent shall be null and void from the beginning. This Agreement constitutes the parties’ final, exclusive and complete understanding and agreement with respect to the subject
matter hereof, and supersede all prior and contemporaneous understandings and agreements relating to its subject matter. This Agreement may not be waived, modified or amended unless mutually agreed upon in writing by both parties. In the event any
provision of this Agreement is found to be legally unenforceable, such unenforceability shall not prevent enforcement of any other provision of the Agreement. I acknowledge that the Company will suffer substantial damages not readily ascertainable
or compensable in terms of money in the event of the breach of any of my obligations under this Agreement. I therefore agree that the Company shall be entitled (without limitation of any other rights or remedies otherwise available to the Company)
to obtain an injunction from any court of competent jurisdiction prohibiting the continuance or recurrence of any breach of this Agreement. The rights and obligations of the parties under this Agreement shall be governed in 

  
 4 

 
all respects by the laws of the State of California exclusively, without regard to conflict of law provisions. I agree that upon Company’s request, all disputes arising hereunder shall be
adjudicated in the state and federal courts having jurisdiction over disputes arising in San Francisco, California, and I hereby agree to consent to the personal jurisdiction of such courts. Any notices required or permitted hereunder shall be given
to the appropriate party at the address specified above or at such other address as the party shall specify in writing. Such notice shall be deemed given upon personal delivery, or sent by certified or registered mail, postage prepaid, three
(3) days after the date of mailing. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument. This Agreement
supersedes and replaces the Confidential Information and Invention Assignment Agreement previously entered into between you and Annapurna Therapeutics SAS. 

  
 5 

 I HAVE READ THIS AGREEMENT CAREFULLY AND I UNDERSTAND AND ACCEPT THE OBLIGATIONS WHICH IT IMPOSES UPON ME
WITHOUT RESERVATION. NO PROMISES OR REPRESENTATIONS HAVE BEEN MADE TO ME TO INDUCE ME TO SIGN THIS AGREEMENT. I SIGN THIS AGREEMENT VOLUNTARILY AND FREELY, IN DUPLICATE, WITH THE UNDERSTANDING THAT THE COMPANY WILL RETAIN ONE COUNTERPART AND THE
OTHER COUNTERPART WILL BE RETAINED BY ME. 
 IN WITNESS WHEREOF, I have executed this document as of the 29th day of January, 2016. 

 

	
	 /s/ Carlo Russo

	Employee

 AGREED AND ACKNOWLEDGED: 
  

	
	Avalanche Biotechnologies
	
	By: /s/ Paul B.
Cleveland                                    
	Name: Paul B. Cleveland
	Title: President & Chief Executive Officer

  
 6 

 EXHIBIT A 

TO 
 EMPLOYEE CONFIDENTIALITY AND
INVENTION ASSIGNMENT AGREEMENT 
 Termination Certificate 

I, the undersigned, hereby certify that I do not have in my possession, nor have I failed to return, any documents or materials relating to
the business of Company or its affiliates (the “Company”), or copies thereof, including, without limitation, any item of Confidential Information listed in Section 3 of the Company’s Employee Confidentiality And Inventions
Assignment Agreement (the “Agreement”) to which I am a party. 
 I further certify that I have complied with all of the terms of
the Agreement signed by me, including the reporting of any Inventions (as defined in the Agreement) covered by the Agreement. 
 I further
agree that in compliance with the Agreement, I will preserve as confidential any information relating to the Company or any of it business partners, clients, consultants or licensees which has been disclosed to me in confidence during the course of
my employment by the Company unless authorized in writing to do so (i) by an executive officer of the Company, in the event that I am not an executive officer of the Company, or (ii) by the Board of Directors of the Company, in the event
that I am an executive officer of the Company. 
  

			
	Date:                                    
	 	  

		 	(Employee’s Signature)
		
		 	  

		 	(Printed or Typed Name of Employee)

 EXHIBIT B 

TO 
 EMPLOYEE CONFIDENTIALITY AND
INVENTION ASSIGNMENT AGREEMENT 
 California Labor Code 

California Labor Code § 2870. Application of provision providing that employee shall assign or offer to assign rights in invention to
employer. 
  

	 	(a)	Any provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or her rights in an invention to his or her employer shall not apply to an invention that the
employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret information except for those inventions that either: 

 

	 	(1)	Relate at the time of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or 

 

	 	(2)	Result from any work performed by the employee for the employer. 

  

	 	(b)	To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required to be assigned under subdivision (a), the provision is against the
public policy of this state and is unenforceable. 

 EXHIBIT C 

TO 
 EMPLOYEE CONFIDENTIALITY AND
INVENTION ASSIGNMENT AGREEMENT 
 (List here prior contracts to assign Inventions that are now in existence between any other person or
entity and you.) 
 (List here previous Inventions which you desire to have specifically excluded from the operation of this Agreement.
Continue on reverse side if necessary. 

 EXHIBIT B 

CHANGE IN CONTROL AND SEVERANCE AGREEMENT

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