Document:

EX-10.24

 Exhibit 10.24 

SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

THIS SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of January 26, 2015 (the
“Effective Date”) between SILICON VALLEY BANK, a California corporation (“Bank”), and 1LIFE HEALTHCARE, INC., a Delaware corporation (“Borrower”), provides the terms on which Bank
shall lend to Borrower and Borrower shall repay Bank. The parties agree as follows: 
 RECITALS 

A. Bank and Borrower have entered into that certain Amended and Restated Loan and Security Agreement dated as of January 30, 2013 (as the
same may be amended, modified, supplemented or restated, the “Prior Loan Agreement”). Pursuant to the Prior Loan Agreement, Bank made available to Borrower a growth capital loan in the original principal amount of Eight Million
Dollars ($8,000,000) (the “Existing Growth Capital Loan”). 
 B. Borrower has requested, and Bank has agreed pursuant to
this Agreement, that Bank (i) make available to Borrower a new growth capital loan which will replace the Existing Growth Capital Loan in its entirety, and (ii) replace, amend and restate the Prior Loan Agreement in its entirety. 

AGREEMENT 
 The parties
hereby agree that the Prior Loan Agreement is hereby amended, restated, and replaced in its entirety as follows: 
 1. ACCOUNTING AND
OTHER TERMS 
 Accounting terms not defined in this Agreement shall be construed following GAAP. Calculations and determinations must
be made following GAAP (except for non-compliance with FAS123R in the monthly reporting). Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in
Section 13. All other terms contained in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to the extent such terms are defined therein. 

2. LOAN AND TERMS OF PAYMENT 

2.1 Promise to Pay. Borrower hereby unconditionally promises to pay Bank the outstanding principal amount of all Credit
Extensions and accrued and unpaid interest thereon as and when due in accordance with this Agreement. 
 2.1.1 Outstanding
Obligations under Existing Growth Capital Loan. Borrower represents and warrants to Bank that as of the Effective Date, the outstanding principal balance of the Existing Growth Capital Loan is Four Million Six Hundred Seventy-Six Thousand Twenty-One and 28/100 Dollars ($4,676,021.28). Borrower represents and warrants to Bank that all of such sum is due and owing Bank, without offset or
defense of any kind or nature and in the event Borrower has any offsets or defenses thereto, Borrower hereby irrevocably waives all such offsets and defenses. Borrower acknowledges and agrees that there is no further 

 availability to borrow under the Existing Growth Capital Loan and that the provisions of this Agreement and
the Loan Documents shall supersede all prior agreements with respect to the Existing Growth Capital Loan. Borrower shall, on the Effective Date and in conjunction with Borrower’s execution of this Agreement, repay in full in cash all of the
Obligations owing to Bank under the Existing Growth Capital Loan pursuant to the Prior Loan Agreement (including, without limitation, the amount of the “Final Payments” due to Bank under the Prior Loan Agreement) (the “Existing
Growth Capital Loan Prepayment”). Notwithstanding anything to the contrary, upon making the Existing Growth Capital Loan Prepayment, Bank hereby agrees to waive the “Make-Whole Premium” which would otherwise be owed by Borrower to
Bank under the Prior Loan Agreement. 
 2.1.2 Growth Capital Advance. 

(a) Availability. Subject to the satisfaction of the terms and conditions of this Agreement, Bank shall make a single growth capital
advance to Borrower in an amount equal to the Growth Capital Line (the “Growth Capital Advance”). The Growth Capital Advance will be available to Borrower during the Draw Period. After repayment, the Growth Capital Advance may not
be reborrowed. 
 (b) Repayment. Borrower shall repay the Growth Capital Advance as follows: (i) payments of accrued interest
only, commencing on the first (1st) calendar day of the month immediately following the month in which the Funding Date of the Growth Capital Advance occurs, and continuing on the first (1st) calendar day of each month thereafter during the Interest-Only Period; and (ii) commencing on the first (1st) calendar day of the month
immediately following the month in which the Interest-Only Period ends (the “Conversion Date”) and continuing on the first (1st) calendar day of each month thereafter, thirty
(30) consecutive equal monthly payments of principal and accrued interest (each, a “Growth Capital Payment”) each in an amount which would fully amortize the Growth Capital Advance, as of the Conversion Date, over the Growth
Capital Repayment Period. Notwithstanding the foregoing, all unpaid principal and interest on the Growth Capital Advance shall be due on the Growth Capital Maturity Date. 

(c) Final Payment. With respect to the Growth Capital Advance, on the earlier of (i) the date of the final Growth Capital Payment,
(ii) the Growth Capital Maturity Date, or (iii) upon a prepayment in accordance with Sections 2.1.2(d) and (e), Borrower shall pay, in addition to the outstanding principal, accrued and unpaid interest, and all other amounts due on such
date with respect to the Growth Capital Advance, an amount equal to the Final Payment. 
 (d) Mandatory Prepayment Upon an
Acceleration. If the Growth Capital Advance is accelerated following the occurrence and during the continuance of an Event of Default, Borrower shall immediately pay to Bank, an amount equal to the sum of (i) all outstanding principal and
accrued and unpaid interest with respect to the Growth Capital Advance, plus (ii) the Final Payment, plus (iii) the Make-Whole Premium, plus (iv) all other sums, including Bank Expenses, if any, that have become due and payable
hereunder with respect to the Growth Capital Advance. 

  
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 (e) Voluntary Prepayment. At Borrower’s option, so long as an Event of Default
has not occurred and is not continuing, Borrower shall have the option to prepay all, but not less than all, of the outstanding Growth Capital Advance, provided Borrower (i) delivers written notice to Bank of its election to exercise its option
to prepay the Growth Capital Advance at least ten (10) days prior to such prepayment, and (ii) pays, on the date of such prepayment (A) all accrued and unpaid interest with respect to the Growth Capital Advance, (B) all unpaid
principal with respect to the Growth Capital Advance, (C) the Final Payment, (D) the Make-Whole Premium, and (E) all other sums, including Bank Expenses, if any, that shall have become due and payable hereunder with respect to the
Growth Capital Advance, including interest at the Default Rate with respect to any past due amounts. 
 2.2 Payment of Interest on
the Credit Extensions. 
 (a) Interest Rate. Subject to Section 2.2(a), the principal amount outstanding for the Growth
Capital Advance shall accrue interest at a per annum rate fixed as of the Funding Date for the Growth Capital Advance equal to the Prime Rate plus one and three-quarters of one percent (1.75%), which interest shall be payable monthly. 

(b) Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall bear interest at
a rate per annum which is five percentage points (5.0%) above the rate that is otherwise applicable thereto (the “Default Rate”). Fees and expenses which are required to be paid by Borrower pursuant to the Loan Documents (including,
without limitation, Bank Expenses) but are not paid when due shall bear interest until paid at a rate equal to the highest rate applicable to the Obligations. Payment or acceptance of the increased interest rate provided in this Section 2.2(a)
is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Bank. 

(c) Payment; Interest Computation. Interest is payable monthly on the first calendar day of each month and shall be computed on the
basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Pacific time on any day shall be deemed received at the opening of
business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is
made, such day shall be included in computing interest on such Credit Extension. 
 2.3 Fees. Borrower shall pay to Bank: 

(a) Commitment Fee. A fully earned, non-refundable commitment fee of One Hundred Thousand
Dollars ($100,000), on the Effective Date; 
 (b) Final Payment. The Final Payment, when due hereunder; 

(c) Make-Whole Premium. The Make-Whole Premium when due hereunder; and 

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

(e) Fees Fully Earned. Unless otherwise provided in this Agreement or in a separate writing by Bank, Borrower shall not be entitled to
any credit, rebate, or repayment of any fees earned by Bank pursuant to this Agreement notwithstanding any termination of this Agreement or the suspension or termination of Bank’s obligation to make loans and advances hereunder. Bank may deduct
amounts owing by Borrower under the clauses of this Section 2.3 pursuant to the terms of Section 2.4(c). Bank shall provide Borrower written notice of deductions made from the Designated Deposit Account pursuant to the terms of the clauses
of this Section 2.3. 
 2.4 Payments; Application of Payments; Debit of Accounts. 

(a) All payments to be made by Borrower under any Loan Document shall be made in immediately available funds in Dollars, without setoff or
counterclaim, before 12:00 p.m. Pacific time on the date when due. Payments of principal and/or interest received after 12:00 p.m. Pacific time are considered received at the opening of business on the next Business Day. When a payment is
due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid. 

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

2.5 Withholding. Payments received by Bank from Borrower under this Agreement will be made free and clear of and without
deduction for any and all present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed by any Governmental Authority (including any interest, additions to tax or penalties applicable
thereto). Specifically, however, if at any time any Governmental Authority, applicable law, regulation or international agreement requires Borrower to make any withholding or deduction from any such payment or other sum payable hereunder to Bank,
Borrower hereby covenants and agrees that the amount due from Borrower with respect to such payment or other sum payable hereunder will be increased to the extent necessary to ensure that, after the making of such required withholding or deduction,
Bank receives a net sum equal to the sum which it would have received had no withholding or deduction been required, and Borrower shall pay the full amount withheld or deducted to the relevant Governmental Authority. Borrower will, upon request,
furnish Bank with proof reasonably satisfactory to Bank indicating that Borrower has made such withholding payment; provided, however, that Borrower need not make any 

  
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withholding payment if the amount or validity of such withholding payment is contested in good faith by appropriate and timely proceedings and as to which payment in full is bonded or reserved
against by Borrower. The agreements and obligations of Borrower contained in this Section 2.5 shall survive the termination of this Agreement. 

3. CONDITIONS OF LOANS 

3.1 Conditions Precedent to Initial Credit Extension. Bank’s obligation to make the initial Credit Extension is subject to
the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, such documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate, including, without limitation: 

(a) duly executed original signatures to this Agreement; 

(b) duly executed original signatures to the Warrant dated as of the Effective Date; 

(c) the Operating Documents and long-form good standing certificates of Borrower and its Subsidiaries certified by the Secretary of State (or
equivalent agency) of Borrower’s and such Subsidiaries’ jurisdiction of organization or formation and each jurisdiction in which Borrower and each Subsidiary is qualified to conduct business, each as of a date no earlier than thirty
(30) days prior to the Effective Date; 
 (d) duly executed original signatures to the completed Borrowing Resolutions for Borrower;

 (e) certified copies, dated as of a recent date, of financing statement searches, as Bank may request, accompanied by written evidence
(including any UCC termination statements) that the Liens indicated in any such financing statements either constitute Permitted Liens or have been or, in connection with the initial Credit Extension, will be terminated or released; 

(f) the Perfection Certificate of Borrower, together with the duly executed original signature thereto; 

(g) a copy of Borrower’s Registration Rights Agreement/Investors’ Rights Agreement and any amendments thereto; 

(h) evidence satisfactory to Bank that the insurance policies and endorsements required by Section 6.5 hereof are in full force and
effect, together with appropriate evidence showing lender loss payable and/or additional insured clauses or endorsements in favor of Bank; and 

(i) payment of the fees and Bank Expenses then due as specified in Section 2.4 hereof. 

  
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 3.2 Conditions Precedent to all Credit Extensions. Bank’s obligations to
make each Credit Extension, including the initial Credit Extension, is subject to the following conditions precedent: 
 (a) timely receipt
of an executed Payment/Advance Form; 
 (b) the representations and warranties in this Agreement shall be true, accurate, and complete in all
material respects on the date of the Payment/Advance Form and on the Funding Date of each Credit Extension; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified
or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date, and no Event of
Default shall have occurred and be continuing or result from the Credit Extension. Each Credit Extension is Borrower’s representation and warranty on that date that the representations and warranties in this Agreement remain true, accurate, and
complete in all material respects; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that
those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; and 

(c) Bank determines to its satisfaction that there has not been any material impairment in the general affairs, management, results of
operation, financial condition or the prospect of repayment of the Obligations, or any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Bank. 

3.3 Post-Closing Conditions. Bank shall have received, in form and substance satisfactory to Bank: 

(a) within sixty (60) days after the Effective Date, long-form good standing certificates of Borrower certified by the Secretaries of
State (or equivalent agency) of Arizona and Illinois; 
 (b) within sixty (60) days after the Effective Date, evidence that the UCC-1 financing statement naming Borrower as a debtor and Stanford Hospital & Clinics as a secured party filed with the Secretary of State of the State of Delaware, has been terminated; 

(c) within one hundred twenty (120) days after the Effective Date, duly executed original signatures to a Collateral Assignment of
Administrative Services Agreement with each of One Medical of Arizona, P.C., an Arizona professional corporation, One Medical Group of LA, Inc., a California professional corporation, One Medical Labs, Inc., a California professional corporation,
One Medical Group, P.C., an Illinois professional corporation, and One Medical Group, P.C., a Massachusetts professional corporation; and 

(d) within one hundred twenty (120) days after the Effective Date, duly executed original signatures to a Restated Collateral Assignment
of Administrative Services Agreement with each of One Medical Group, Inc., a California professional corporation, One Medical Group, P.C., a New York professional corporation, One Medical of NY, P.C., a New York professional corporation, and One
Medical Group, P.C., a District of Columbia professional corporation. 

  
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 3.4 Covenant to Deliver. Except as otherwise provided in Section 3.3,
Borrower agrees to deliver to Bank each item required to be delivered to Bank under this Agreement as a condition precedent to any Credit Extension. Borrower expressly agrees that a Credit Extension made prior to the receipt by Bank of any such item
shall not constitute a waiver by Bank of Borrower’s obligation to deliver such item, and the making of any Credit Extension in the absence of a required item shall be in Bank’s sole discretion. 

3.5 Procedures for Borrowing. 

(a) Subject to the prior satisfaction of all other applicable conditions to the making of the Growth Capital Advance set forth in this
Agreement, to obtain the Growth Capital Advance, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail, facsimile, or telephone by 12:00 p.m. Pacific time on the Funding Date of the Growth Capital Advance. Together
with any such electronic or facsimile notification, Borrower shall deliver to Bank by electronic mail or facsimile a completed Payment/Advance Form executed by a Responsible Officer or his or her designee. Bank may rely on any telephone notice given
by a person whom Bank believes is a Responsible Officer or designee. Bank shall credit the Growth Capital Advance to the Designated Deposit Account. Bank may make the Growth Capital Advance under this Agreement based on instructions from a
Responsible Officer or his or her designee or without instructions if the Growth Capital Advance is necessary to meet Obligations which have become due. 

4. CREATION OF SECURITY INTEREST. 

4.1 Grant of Security Interest. Borrower hereby grants Bank, to secure the payment and performance in full of all of the
Obligations, a continuing security interest in, and pledges to Bank, the Collateral, wherever located, whether now owned or hereafter acquired or arising, and all proceeds and products thereof. 

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

If this Agreement is terminated, Bank’s Lien in the Collateral shall continue until the Obligations (other than inchoate indemnity
obligations and any of Borrower’s obligations arising from any of the Warrants) are repaid in full in cash. Upon payment in full in cash of the Obligations (other than inchoate indemnity obligations and any of Borrower’s obligations
arising from any of the Warrants) and at such time as Bank’s obligation to make Credit Extensions has terminated, Bank shall, at Borrower’s sole cost and expense, release its Liens in the Collateral and all rights therein shall revert to
Borrower. In the event (x) all Obligations (other than 

  
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inchoate indemnity obligations), except for Bank Services, are satisfied in full, and (y) this Agreement is terminated, Bank shall terminate the security interest granted herein upon
Borrower providing cash collateral acceptable to Bank in its good faith business judgment for Bank Services, if any. In the event such Bank Services consist of outstanding Letters of Credit, Borrower shall provide to Bank cash collateral in an
amount equal to (x) if such Letters of Credit are denominated in Dollars, then at least one hundred five percent (105.0%); and (y) if such Letters of Credit are denominated in a Foreign Currency, then at least one hundred ten percent
(110.0%), of the Dollar Equivalent of the face amount of all such Letters of Credit plus all interest, fees, and costs due or to become due in connection therewith (as estimated by Bank in its business judgment), to secure all of the Obligations
relating to such Letters of Credit. 
 4.2 Priority of Security Interest. Borrower represents, warrants, and covenants that the
security interest granted herein is and shall at all times continue to be a first priority perfected security interest in the Collateral (subject only to Permitted Liens that are permitted pursuant to the terms of this Agreement to have superior
priority to Bank’s Lien under this Agreement). If Borrower shall acquire a commercial tort claim, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security
interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank. 

4.3 Authorization to File Financing Statements. Borrower hereby authorizes Bank to file financing statements, without notice to
Borrower, with all appropriate jurisdictions to perfect or protect Bank’s interest or rights hereunder, including a notice that any disposition of the Collateral, by either Borrower or any other Person, shall be deemed to violate the rights of
Bank under the Code. 
 5. REPRESENTATIONS AND WARRANTIES 

Borrower represents and warrants as follows: 

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

  
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complete (it being understood and agreed that Borrower may from time to time update certain information in the Perfection Certificate after the Effective Date to the extent permitted by one or
more specific provisions in this Agreement). If Borrower is not now a Registered Organization but later becomes one, Borrower shall promptly notify Bank of such occurrence and provide Bank with Borrower’s organizational identification number.

 The execution, delivery and performance by Borrower of the Loan Documents to which it is a party have been duly authorized, and do not
(i) conflict with any of Borrower’s organizational documents, (ii) contravene, conflict with, constitute a default under or violate any material Requirement of Law, (iii) contravene, conflict or violate any applicable order,
writ, judgment, injunction, decree, determination or award of any Governmental Authority by which Borrower or any of its Subsidiaries or any of their property or assets may be bound or affected, (iv) require any action by, filing, registration,
or qualification with, or Governmental Approval from, any Governmental Authority (except such Governmental Approvals which have already been obtained and are in full force and effect) or (v) conflict with, contravene, constitute a default or
breach under, or result in or permit the termination or acceleration of, any material agreement by which Borrower is bound. Borrower is not in default under any agreement to which it is a party or by which it is bound in which the default could
reasonably be expected to have a material adverse effect on Borrower’s business. 
 5.2 Collateral. Borrower has good
title to, rights in, and the power to transfer each item of the Collateral upon which it purports to grant a Lien hereunder, free and clear of any and all Liens except Permitted Liens. Borrower has no Collateral Accounts at or with any bank or
financial institution other than Bank or Bank’s Affiliates except for the Collateral Accounts described in the Perfection Certificate delivered to Bank in connection herewith and which Borrower has taken such actions as are necessary to give
Bank a perfected security interest therein, pursuant to the terms of Section 6.6(b). The Accounts are bona fide, existing obligations of the Account Debtors. 

The Collateral is not in the possession of any third party bailee (such as a warehouse) except as otherwise provided in the Perfection
Certificate. None of the components of the Collateral shall be maintained at locations other than as provided in the Perfection Certificate or as permitted pursuant to Section 7.2. 

Borrower is the sole owner of the Intellectual Property which it owns or purports to own except for
(a) non-exclusive licenses granted to its customers in the ordinary course of business, (b) over-the-counter software
that is commercially available to the public, and (c) material Intellectual Property licensed to Borrower and noted on the Perfection Certificate. Each Patent which it owns or purports to own and which is material to Borrower’s business is
valid and enforceable, and no part of the Intellectual Property which Borrower owns or purports to own and which is material to Borrower’s business has been judged invalid or unenforceable, in whole or in part. To the best of Borrower’s
knowledge, no claim has been made that any part of the Intellectual Property violates the rights of any third party except to the extent such claim would not reasonably be expected to have a material adverse effect on Borrower’s business. 

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

  
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 5.3 Litigation. There are no actions or proceedings pending or, to the
knowledge of any Responsible Officer, threatened in writing by or against Borrower or any of its Subsidiaries involving more than, individually or in the aggregate, Two Hundred Fifty Thousand Dollars ($250,000). 

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

5.7 Subsidiaries; Investments. Borrower does not own any stock, partnership, or other ownership interest or other equity
securities except for Permitted Investments. 
 5.8 Tax Returns and Payments; Pension Contributions. Borrower has timely filed
all required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except (a) to the extent such taxes are being contested in good faith by
appropriate proceedings promptly instituted and diligently conducted, so long as such reserve or other appropriate provision, if any, as shall be required in conformity with GAAP shall have been made therefor, or (b) if such taxes, assessments,
deposits and contributions do not, individually or in the aggregate, exceed Two Hundred Fifty Thousand Dollars ($250,000). 
 To the extent
Borrower defers payment of any contested taxes, Borrower shall (i) notify Bank in writing of the commencement of, and any material development in, the proceedings, and (ii) post bonds or take any other steps required to prevent the
governmental authority levying such contested taxes from obtaining a Lien upon any of the Collateral that is other than a “Permitted Lien.” Borrower is unaware of any claims or adjustments proposed for any of

  
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Borrower’s prior tax years which could result in additional taxes becoming due and payable by Borrower in excess of Two Hundred Fifty Thousand Dollars ($250,000). Borrower has paid all
amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms, and Borrower has not withdrawn from participation in, and has not permitted partial or complete termination of, or
permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other
governmental agency. 
 5.9 Use of Proceeds. Borrower shall use the proceeds of the Credit Extensions solely as working
capital, and to fund its general business requirements and not for personal, family, household or agricultural purposes. 

5.10 Full Disclosure. No written representation, warranty or other statement of Borrower in any certificate or written statement
given to Bank, as of the date such representation, warranty, or other statement was made, taken together with all such written certificates and written statements given to Bank, contains any untrue statement of a material fact or omits to state a
material fact necessary to make the statements contained in the certificates or statements not misleading (it being recognized by Bank that the projections and forecasts provided by Borrower in good faith and based upon reasonable assumptions are
not viewed as facts and that actual results during the period or periods covered by such projections and forecasts may differ from the projected or forecasted results). 

5.11 Definition of “Knowledge.” For purposes of the Loan Documents, whenever a representation or warranty is made to
Borrower’s knowledge or awareness, to the “best of” Borrower’s knowledge, or with a similar qualification, knowledge or awareness means the actual knowledge, after reasonable investigation, of any Responsible Officer. 

6. AFFIRMATIVE COVENANTS 

Borrower shall do all of the following: 

6.1 Government Compliance. 

(a) Maintain its and all its Subsidiaries’ legal existence and good standing in their respective jurisdictions of formation and maintain
qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on Borrower’s business or operations. Borrower shall comply, and have each Subsidiary comply, in all material
respects, with all laws, ordinances and regulations to which it is subject. 
 (b) Use commercially reasonable efforts to obtain all of the
Governmental Approvals necessary for the performance by Borrower of its obligations under the Loan Documents to which it is a party and the grant of a security interest to Bank in all of its property. Borrower shall promptly provide copies of any
such obtained Governmental Approvals to Bank. 

  
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 6.2 Financial Statements, Reports, Certificates. Provide Bank with the
following: 
 (a) Monthly Financial Statements. As soon as available, but no later than forty-five (45) days after the last day
of each month, a company prepared consolidated balance sheet and income statement covering Borrower’s consolidated operations for such month certified by a Responsible Officer and in a form acceptable to Bank (the “Monthly Financial
Statements”); 
 (b) Monthly Compliance Certificate. Within forty-five (45) days after the last day of each month and
together with the Monthly Financial Statements, a duly completed Compliance Certificate signed by a Responsible Officer, certifying that as of the end of such month, Borrower was in full compliance with all of the terms and conditions of this
Agreement; 
 (c) Annual Audited Financial Statements. As soon as available, but no later than one hundred eighty (180) days
after the last day of Borrower’s fiscal year, audited consolidated financial statements prepared under GAAP, consistently applied, together with an unqualified opinion on the financial statements from an independent certified public accounting
firm reasonably acceptable to Bank in its reasonable discretion. 
 (d) Annual Operating Budget and Financial Projections. Within
thirty (30) days after the last day of each fiscal year of Borrower, or more frequently (within ten (10) business days after approval) if updated by Borrower (following the initial annual delivery) and approved by the board of directors,
(i) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and (ii) annual financial projections for the following fiscal year (including
quarterly projections) as approved by Borrower’s board of directors and commensurate in form and substance with those provided to Borrower’s investors; 

(e) Other Statements. Within five (5) days of delivery, copies of all statements, reports and notices made generally available to
Borrower’s security holders or to any holders of Subordinated Debt; 
 (f) Legal Action Notice. A prompt report of any legal
actions pending or threatened in writing against Borrower or any of its Subsidiaries that could result in damages or costs to Borrower or any of its Subsidiaries of, individually or in the aggregate, Two Hundred Fifty Thousand Dollars ($250,000) or
more; and 
 (g) Other Financial Information. Budgets, sales projections, operating plans and other financial information reasonably
requested by Bank; and 
 (h) Monthly Store Metrics. Within forty-five (45) days after the last day of each month, financial
statements and metrics for each store of Borrower, covering each such store’s operations for such month certified by a Responsible Officer and in a form acceptable to Bank. 

6.3 Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects. Returns and allowances
between Borrower and its Account Debtors shall follow Borrower’s customary practices as they exist at the Effective Date. Borrower must promptly notify Bank of all returns, recoveries, disputes and claims that involve more than One Hundred
Thousand Dollars ($100,000). 

  
 12 

 6.4 Taxes; Pensions. Timely file, and require each of its Subsidiaries to
timely file, all required tax returns and reports and timely pay, and require each of its Subsidiaries to timely pay, all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower and each of its Subsidiaries,
except for deferred payment of any taxes contested pursuant to the terms of Section 5.8 hereof, and shall deliver to Bank, on demand, appropriate certificates attesting to such payments, and pay all amounts necessary to fund all present
pension, profit sharing and deferred compensation plans in accordance with their terms. 
 6.5 Insurance. 

(a) Keep its business and the Collateral insured for risks and in amounts standard for companies in Borrower’s industry and location and
as Bank may reasonably request. Insurance policies shall be in a form, with financially sound and reputable insurance companies that are not Affiliates of Borrower, and in amounts that are satisfactory to Bank. All property policies shall have a
lender’s loss payable endorsement showing Bank as an additional lender loss payee. All liability policies shall show, or have endorsements showing, Bank as an additional insured. Bank shall be named as lender loss payee and/or additional
insured with respect to any such insurance providing coverage in respect of any Collateral. 
 (b) Ensure that proceeds payable under any
property policy are, at Bank’s option payable to Bank on account of the Obligations, provided, however, if at the time of any loss (i) no Event of Default has occurred and is continuing and (ii) the amount of the proceeds payable are
less than $50,000, Bank agrees to permit Borrower to promptly use such proceeds to repair or replace the property damaged by such loss. 

(c) At Bank’s request, Borrower shall deliver certified copies of insurance policies and evidence of all premium payments. Each provider
of any such insurance required under this Section 6.5 shall agree, by endorsement upon the policy or policies issued by it or by independent instruments furnished to Bank, that it will give Bank twenty (20) days prior written notice before
any such policy or policies shall be materially altered or canceled. If Borrower fails to obtain insurance as required under this Section 6.5 or to pay any amount or furnish any required proof of payment to third persons and Bank, Bank may make
all or part of such payment or obtain such insurance policies required in this Section 6.5, and take any action under the policies Bank deems prudent. 

6.6 Operating Accounts. 

(a) Maintain its primary operating and other deposit accounts and securities accounts with Bank and Bank’s Affiliates. 

(b) Provide Bank five (5) days prior written notice before establishing any Collateral Account at or with any bank or financial
institution other than Bank or Bank’s Affiliates. For each Collateral Account that Borrower at any time maintains, Borrower shall cause the applicable bank or financial institution (other than Bank) at or with which any Collateral Account is
maintained to execute and deliver a Control Agreement or other 

  
 13 

 
appropriate instrument with respect to such Collateral Account to perfect Bank’s Lien in such Collateral Account in accordance with the terms hereunder which Control Agreement may not be
terminated without the prior written consent of Bank. The provisions of the previous sentence shall not apply to deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of
Borrower’s employees and identified to Bank by Borrower as such. 
 (c) Cause the entire balance of each Collateral Account now or
hereafter maintained at Bank of Marin to be transferred into Borrower’s Designated Deposit Account on a weekly basis, or at such additional times as Bank may request. 

6.7 Protection of Intellectual Property Rights. 

(a) (i) Use commercially reasonable efforts to protect, defend and maintain the validity and enforceability of its Intellectual Property
material to its business; (ii) promptly advise Bank in writing of material infringements or any other event that could reasonably be expected to materially and adversely affect the value of its Intellectual Property material to its business;
and (iii) not allow any Intellectual Property material to Borrower’s business to be abandoned, forfeited or dedicated to the public without Bank’s written consent. 

(b) Provide written notice to Bank within ten (10) days of entering or becoming bound by any Restricted License (other than over-the-counter software that is commercially available to the public). Borrower shall take such steps as Bank requests to obtain the consent of, or waiver by, any person
whose consent or waiver is necessary for (i) any Restricted License to be deemed “Collateral” and for Bank to have a security interest in it that might otherwise be restricted or prohibited by law or by the terms of any such
Restricted License, whether now existing or entered into in the future, and (ii) Bank to have the ability in the event of a liquidation of any Collateral to dispose of such Collateral in accordance with Bank’s rights and remedies under
this Agreement and the other Loan Documents. 
 6.8 Litigation Cooperation. From the date hereof and continuing through the
termination of this Agreement, make available to Bank, without expense to Bank, Borrower and its officers, employees and agents and Borrower’s books and records, to the extent that Bank may deem them reasonably necessary to prosecute or defend
any third-party suit or proceeding instituted by or against Bank with respect to any Collateral or relating to Borrower; provided, however, that any information provided to Bank shall be subject to the confidentiality provisions set forth in
Section 12.9 herein, and Borrower shall not be required to disclose any information that is of a highly confidential nature or otherwise subject to attorney-client privilege. 

6.9 Reserved. 

6.10 Access to Collateral; Books and Records. Allow Bank, or its agents, to inspect the Collateral and audit and copy
Borrower’s Books, provided that such audits will be conducted no more often than once every twelve (12) months unless an Event of Default has occurred and is continuing in which case such inspections and audits shall occur as often as Bank
shall determine is necessary. The foregoing inspections and audits shall be at Borrower’s expense, and the charge therefor shall be $850 per person per day (or such higher amount as shall 

  
 14 

 
represent Bank’s then-current standard charge for the same), plus reasonable out-of-pocket expenses. In the
event Borrower and Bank schedule an audit more than ten (10) days in advance, and Borrower cancels or seeks to reschedule the audit with less than ten (10) days written notice to Bank, then (without limiting any of Bank’s rights or
remedies), Borrower shall pay Bank a fee of $1,000 plus any out-of-pocket expenses incurred by Bank to compensate Bank for the anticipated costs and expenses of the
cancellation or rescheduling. 
 6.11 Administrative Service Agreements. 

(a) Provide Bank with prompt written notice of (i) any new Administrative Services Agreements entered into by Borrower after the Effective
Date, together with a copy of the applicable Administrative Services Agreements; (ii) termination of any Administrative Services Agreement for any reason or Borrower’s receipt of any notice of termination in regard to any Administrative
Services Agreement; (iii) the occurrence of a default under any Administrative Services Agreement; and (iv) any modification, waiver or amendment to such Administrative Services Agreement that may adversely impact the Collateral; and 

(b) Take such steps as Bank requests to obtain the consent of, or waiver by, any person whose consent or waiver is necessary for (i) any
Administrative Services Agreement to be deemed “Collateral” and for Bank to have a security interest in such Administrative Services Agreement, and (ii) Bank to have the ability in the event of a liquidation of any Collateral to
dispose of such Collateral in accordance with Bank’s rights and remedies under this Agreement and the other Loan Documents. 
 6.12
Further Assurances. Execute any further instruments and take further action as Bank reasonably requests to perfect or continue Bank’s Lien in the Collateral or to effect the purposes of this Agreement. Deliver to Bank, within five
(5) days after the same are sent or received, copies of all correspondence, reports, documents and other filings with any Governmental Authority regarding compliance with or maintenance of Governmental Approvals or Requirements of Law or that
could reasonably be expected to have a material effect on any of the Governmental Approvals required for the ongoing operation of Borrower’s business. 

7. NEGATIVE COVENANTS 

Borrower shall not do any of the following without Bank’s prior written consent: 

7.1 Dispositions. Convey, sell, lease, transfer, assign, or otherwise dispose of (collectively, “Transfer”), or
permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a) of Inventory in the ordinary course of business; (b) of worn-out or obsolete
Equipment that is, in the reasonable judgment of Borrower, no longer economically practicable to maintain or useful in the ordinary course of business of Borrower; (c) consisting of Permitted Liens and Permitted Investments; (d) consisting
of the sale or issuance of any stock of Borrower permitted under Section 7.2 of this Agreement; and (e) assignments pursuant to each Assignment of Administrative Services Agreement. 

  
 15 

 7.2 Changes in Business, Management, Ownership, or Business Locations.
(a)Engage in or permit any of its Subsidiaries to engage in any business other than the businesses currently engaged in by Borrower and such Subsidiary, as applicable, or reasonably related thereto; (b) liquidate or dissolve; or
(c) (i) have a change in any Responsible Officer; or (ii) enter into any transaction or series of related transactions in which the stockholders of Borrower who were not stockholders immediately prior to the first such transaction own
more than forty-nine percent (49%) of the voting stock of Borrower immediately after giving effect to such transaction or related series of such transactions (other than by the sale of Borrower’s equity securities in a public offering or to
venture capital or private equity investors so long as Borrower identifies to Bank the venture capital or private equity investors at least seven (7) Business Days prior to the closing of the transaction and provides to Bank a description of
the material terms of the transaction); provided, however, only advance written notice to Bank (but not any consent from Bank) will be required for any of the restricted actions in this Section 7.2 if (i) all obligations are being prepaid
in full as a condition to consummation of such action, and (ii) Bank has no further obligation hereunder to make any further Credit Extensions. 

Borrower shall not: (1) except as included in Borrower’s fiscal operating plan provided to Bank in writing, add any new offices or
business locations (unless such new offices or business locations contain less than Fifty Thousand Dollars ($50,000) without providing Bank with written notice of the same within thirty (30) days of such occurrence, (2) keep any Collateral
in any warehouses (unless such warehouse contains less than Fifty Thousand Dollars ($50,000) in Borrower’s assets or property) or deliver any portion of the Collateral valued, individually or in the aggregate, in excess of Fifty Thousand
Dollars ($50,000) to a bailee at a location other than to a bailee and at a location already disclosed in the Perfection Certificate, without in all cases, at least thirty (30) days prior written notice to Bank, (3) change its jurisdiction
of organization, (4) change its organizational structure or type, (5) change its legal name, or (6) change any organizational number (if any) assigned by its jurisdiction of organization. If Borrower intends to deliver any portion of
the Collateral valued, individually or in the aggregate, in excess of Fifty Thousand Dollars ($50,000) to a bailee, and Bank and such bailee are not already parties to a bailee agreement governing both the Collateral and the location to which
Borrower intends to deliver the Collateral, then Borrower will first receive the written consent of Bank, and such bailee shall execute and deliver a bailee agreement in form and substance satisfactory to Bank. 

7.3 Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other
Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person (including, without limitation, by the formation of any Subsidiary) except (a) where total
consideration including cash and the value of any non-cash consideration for (i) each such individual transaction does not exceed Two Hundred Fifty Thousand Dollars ($250,000) in any fiscal year of
Borrower, and (ii) all such transactions do not exceed One Million Dollars ($1,000,000) in the aggregate in any fiscal year of Borrower; (b) no Event of Default has occurred and is continuing or would exist after giving effect to such
transaction(s); and (c) Borrower is the surviving legal entity. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower. 

7.4 Indebtedness. Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than
Permitted Indebtedness. 

  
 16 

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

7.6 Distributions; Investments. (a) Pay any dividends or make any distribution or payment or redeem, retire or purchase any
capital stock provided that (i) Borrower may convert any of its convertible securities into other securities pursuant to the terms of such convertible securities or otherwise in exchange thereof, (ii) Borrower may pay dividends solely in
common stock; and (iii) Borrower may repurchase the stock of former employees, directors or consultants pursuant to stock repurchase agreements so long as an Event of Default does not exist at the time of such repurchase and would not exist
after giving effect to such repurchase, provided that the aggregate amount of all such repurchases does not exceed One Hundred Fifty Thousand Dollars ($150,000) per fiscal year; or (b) directly or indirectly make any Investment (including,
without limitation, by the formation of any Subsidiary) other than Permitted Investments, or permit any of its Subsidiaries to do so. 

7.7 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any material transaction with any
Affiliate of Borrower, except for transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s length transaction with a non-affiliated Person. 
 7.8 Subordinated Debt. (a) Make or permit any payment on any
Subordinated Debt, except under the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would
increase the amount thereof, provide for earlier or greater principal, interest, or other payments thereon, or adversely affect the subordination thereof to Obligations owed to Bank. 

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

  
 17 

 7.10 Administrative Services Agreements. Amend or modify any Administrative
Services Agreement in such a way that would adversely impact (a) the Collateral, (b) the ability of Bank to dispose of any Collateral, or (c) the perfection or priority of Bank’s Lien in the Collateral. 

8. EVENTS OF DEFAULT 

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

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

8.2 Covenant Default. 

(a) Borrower fails or neglects to perform any obligation in Sections 6.2, 6.4, 6.5, 6.6, 6.7(b), 6.9, 6.10 or violates any covenant in
Section 7; or 
 (b) Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement
contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within
ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within such ten (10) day period,
and such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the
failure to cure the default shall not be deemed an Event of Default (but no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not apply, among other things, to financial covenants or any other
covenants set forth in clause (a) above; 
 8.3 Material Adverse Change. A Material Adverse Change occurs; 

8.4 Attachment; Levy; Restraint on Business. 

(a) (i) The service of process seeking to attach, by trustee or similar process, any funds of Borrower or of any entity under the control
of Borrower (including a Subsidiary) in excess of One Hundred Thousand Dollars ($100,000), or (ii) a notice of lien or levy is filed against any of Borrower’s assets by any Governmental Authority, and the same under subclauses (i) and
(ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Credit Extensions shall be made during any ten (10) day cure period;
or 

  
 18 

 (b) (i) any material portion of Borrower’s assets is attached, seized, levied on,
or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents Borrower from conducting all or any material part of its business; 

8.5 Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes
insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and is not dismissed or stayed within forty-five (45) days (but no Credit Extensions shall be made while any of the
conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed); 
 8.6 Other Agreements.
There is, under any agreement to which Borrower is a party with a third party or parties, (a) any default resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount
individually or in the aggregate in excess of Two Hundred Fifty Thousand Dollars ($250,000); or (b) any breach or default by Borrower, the result of which could reasonably be expected to have a material adverse effect on Borrower’s
business; 
 8.7 Judgments; Penalties. One or more fines, penalties or final judgments, orders or decrees for the payment of
money in an amount, individually or in the aggregate, of at least Two Hundred Fifty Thousand Dollars ($250,000) (not covered by independent third-party insurance as to which liability has been accepted by such insurance carrier) shall be rendered
against Borrower by any Governmental Authority, and the same are not, within ten (10) days after the entry, assessment or issuance thereof, discharged, satisfied, or paid, or after execution thereof, stayed or bonded pending appeal, or such
judgments are not discharged prior to the expiration of any such stay (provided that no Credit Extensions will be made prior to the satisfaction, payment, discharge, stay, or bonding of such fine, penalty, judgment, order or decree); 

8.8 Misrepresentations. Borrower or any Person acting for Borrower makes any representation, warranty, or other statement now or
later in this Agreement, any Loan Document or in any writing delivered to Bank or to induce Bank to enter this Agreement or any Loan Document, and such representation, warranty, or other statement is incorrect in any material respect when made; 

8.9 Subordinated Debt. Any document, instrument, or agreement evidencing the subordination of any Subordinated Debt shall for any
reason be revoked or invalidated or otherwise cease to be in full force and effect, any Person (a) shall be in breach thereof or (b) contests in any manner the validity or enforceability thereof or (c) denies its liability or
obligation thereunder; or the Obligations shall for any reason be subordinated without Bank’s written consent or shall not have the priority contemplated by this Agreement without Bank’s written consent; 

8.10 Governmental Approvals. Any Governmental Approval material to Borrower’s business shall have been (a) revoked,
rescinded, suspended, modified in an adverse manner or not renewed in the ordinary course for a full term or (b) subject to any decision by a Governmental Authority that designates a hearing with respect to any applications for renewal of any
of such Governmental Approval or that could result in the Governmental Authority taking any of the actions described in clause (a) above, and such decision or such revocation, rescission, 

  
 19 

 
suspension, modification or non-renewal (i) cause, or could reasonably be expected to cause, a Material Adverse Change, or (ii) adversely affects
the legal qualifications of Borrower or any of its Subsidiaries to hold such Governmental Approval in any applicable jurisdiction and such revocation, rescission, suspension, modification or non-renewal could
reasonably be expected to affect the status of or legal qualifications of Borrower or any of its Subsidiaries to hold any Governmental Approval in any other jurisdiction; or 

8.11 Administrative Services Agreements. If (a) Borrower delivers or receives any notice of termination in regard to
any Administrative Services Agreement, (b) any Administrative Services Agreement is terminated for any reason or (c) a default occurs under any Administrative Services Agreement which is not cured within any applicable cure period, the
result of which could reasonably be expected to have a material adverse effect on Borrower’s business. 
 9. BANK’S RIGHTS
AND REMEDIES 
 9.1 Rights and Remedies. Upon the occurrence and during the continuance of an Event of Default, Bank
may, without notice or demand, do any or all of the following: 
 (a) declare all Obligations immediately due and payable (but if an Event of
Default described in Section 8.5 occurs all Obligations are immediately due and payable without any action by Bank); 
 (b) stop
advancing money or extending credit for Borrower’s benefit under this Agreement or under any other agreement between Borrower and Bank; 

(c) deposit cash with Bank in an amount equal to at least one hundred five percent (105%) of the Dollar Equivalent (or one hundred ten percent
(110%) if the Dollar Equivalent is denominated in Foreign Currency) of the aggregate face amount of all Letters of Credit remaining undrawn (plus all interest, fees, and costs due or to become due in connection therewith (as estimated by Bank in its
good faith business judgment)), to secure all of the Obligations relating to such Letters of Credit, as collateral security for the repayment of any future drawings under such Letters of Credit, and Borrower shall forthwith deposit and pay such
amounts, and (i) pay in advance all letter of credit fees scheduled to be paid or payable over the remaining term of any Letters of Credit; 

(d) terminate any FX Contracts; 

(e) verify the amount of, demand payment of and performance under, and collect any Accounts and General Intangibles, settle or adjust disputes
and claims directly with Account Debtors for amounts on terms and in any order that Bank considers advisable, and notify any Person owing Borrower money of Bank’s security interest in such funds; 

(f) make any payments and do any acts it considers necessary or reasonable to protect the Collateral and/or its security interest in the
Collateral. Borrower shall assemble the Collateral if Bank requests and make it available as Bank designates. Bank may enter premises where the Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase,
contest, or compromise any Lien which appears to be prior or superior to its security interest and pay all expenses incurred. Borrower grants Bank a license to enter and occupy any of its premises, without charge, to exercise any of Bank’s
rights or remedies; 

  
 20 

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

(i) place a “hold” on any account maintained with Bank and/or deliver a notice of exclusive control, any entitlement order, or other
directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral; 
 (j) demand and
receive possession of Borrower’s Books; and 
 (k) exercise all rights and remedies available to Bank under the Loan Documents or at law
or equity, including all remedies provided under the Code (including disposal of the Collateral pursuant to the terms thereof). 
 9.2
Power of Attorney. Borrower hereby irrevocably appoints Bank as its lawful attorney-in-fact, exercisable upon the occurrence and during the continuance of an
Event of Default, to: (a) endorse Borrower’s name on any checks or other forms of payment or security; (b) sign Borrower’s name on any invoice or bill of lading for any Account or drafts against Account Debtors; (c) settle
and adjust disputes and claims about the Accounts directly with Account Debtors, for amounts and on terms Bank determines reasonable; (d) make, settle, and adjust all claims under Borrower’s insurance policies; (e) pay, contest or
settle any Lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to terminate or discharge the same; and (f) transfer the Collateral into the name of
Bank or a third party as the Code permits. Borrower hereby appoints Bank as its lawful attorney-in-fact to sign Borrower’s name on any documents necessary to
perfect or continue the perfection of Bank’s security interest in the Collateral regardless of whether an Event of Default has occurred until all Obligations have been satisfied in full (not including inchoate indemnity obligations and any of
Borrower’s obligations arising from any of the Warrants) and Bank is under no further obligation to make Credit Extensions hereunder. Bank’s foregoing appointment as Borrower’s attorney in fact, and all of Bank’s rights and
powers, coupled with an interest, are irrevocable until all Obligations have been fully repaid and performed (other than inchoate indemnity obligations and any of Borrower’s obligations arising from any of the Warrants) and Bank’s
obligation to provide Credit Extensions terminates. 

  
 21 

 9.3 Protective Payments. If Borrower fails to obtain the insurance called for
by Section 6.5 or fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document or which may be required to preserve the Collateral, Bank may obtain such
insurance or make such payment, and all amounts so paid by Bank are Bank Expenses and immediately due and payable, bearing interest at the then highest rate applicable to the Obligations, and secured by the Collateral. Bank will make reasonable
efforts to provide Borrower with notice of Bank obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Bank are deemed an agreement to make similar payments in the future or Bank’s waiver of
any Event of Default. 
 9.4 Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is
continuing, Bank shall have the right to apply in any order any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or
otherwise, to the Obligations. Bank shall pay any surplus to Borrower by credit to the Designated Deposit Account or to other Persons legally entitled thereto; Borrower shall remain liable to Bank for any deficiency. If Bank, directly or indirectly,
enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or
deferring the reduction of the Obligations until the actual receipt by Bank of cash therefor. 
 9.5 Bank’s Liability for
Collateral. So long as Bank complies with reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Bank, Bank shall not be liable or responsible for: (a) the safekeeping of the
Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or
destruction of the Collateral, other than those losses arising from Bank’s gross negligence or willful misconduct. 
 9.6 No
Waiver; Remedies Cumulative. Bank’s failure, at any time or times, to require strict performance by Borrower of any provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Bank thereafter to
demand strict performance and compliance herewith or therewith. No waiver hereunder shall be effective unless signed by the party granting the waiver and then is only effective for the specific instance and purpose for which it is given. Bank’s
rights and remedies under this Agreement and the other Loan Documents are cumulative. Bank has all rights and remedies provided under the Code, by law, or in equity. Bank’s exercise of one right or remedy is not an election and shall not
preclude Bank from exercising any other remedy under this Agreement or other remedy available at law or in equity, and Bank’s waiver of any Event of Default is not a continuing waiver. Bank’s delay in exercising any remedy is not a waiver,
election, or acquiescence. 
 9.7 Demand Waiver. Borrower waives demand, notice of default or dishonor, notice of payment and
nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Bank on which Borrower is liable. 

  
 22 

 10. NOTICES 

All notices, consents, requests, approvals, demands, or other communication by any party to this Agreement or any other Loan Document must be
in writing and shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of actual receipt and three (3) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt
requested, with proper postage prepaid; (b) upon transmission, when sent by electronic mail or facsimile transmission; (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or
(d) when delivered, if hand-delivered by messenger, all of which shall be addressed to the party to be notified and sent to the address, facsimile number, or email address indicated below. Bank or Borrower may change its mailing or electronic
mail address or facsimile number by giving the other party written notice thereof in accordance with the terms of this Section 10. 
  

			
	If to Borrower:	  	1Life Healthcare, Inc.
		  	130 Sutter 2nd Floor
		  	San Francisco, California 94104
		  	Attn: Paul Kirincich, Chief Financial Officer
		  	Fax: (415) 354-3430
		  	Email: pkirincich@onemedical.com
		
	If to Bank:	  	Silicon Valley Bank
		  	555 Mission Street, Suite 900
		  	San Francisco, California 94105
		  	Attn: Milo Bissin, Vice President
		  	Email: mbissin@svb.com

 11. CHOICE OF LAW, VENUE, JURY TRIAL WAIVER AND JUDICIAL REFERENCE 

Except as otherwise expressly provided in any of the Loan Documents, California law governs the Loan Documents without regard to principles of
conflicts of law. Borrower and Bank each submit to the exclusive jurisdiction of the State and Federal courts in Santa Clara County, California; provided, however, that nothing in this Agreement shall be deemed to operate to preclude Bank from
bringing suit or taking other legal action in any other jurisdiction to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Bank. Borrower expressly submits and consents in
advance to such jurisdiction in any action or suit commenced in any such court, and Borrower hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby consents to the
granting of such legal or equitable relief as is deemed appropriate by such court. Borrower hereby waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service of such summons,
complaints, and other process may be made by registered or certified mail addressed to Borrower at the address set forth in, or subsequently provided by Borrower in accordance with, Section 10 of this Agreement and that service so made shall be
deemed completed upon the earlier to occur of Borrower’s actual receipt thereof or three (3) days after deposit in the U.S. mails, proper postage prepaid. 

  
 23 

 TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BORROWER AND BANK EACH WAIVE THEIR
RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL
INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 
 WITHOUT INTENDING IN
ANY WAY TO LIMIT THE PARTIES’ AGREEMENT TO WAIVE THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY, if the above waiver of the right to a trial by jury is not enforceable, the parties hereto agree that any and all disputes or controversies of any
nature between them arising at any time shall be decided by a reference to a private judge, mutually selected by the parties (or, if they cannot agree, by the Presiding Judge of the Santa Clara County, California Superior Court) appointed in
accordance with California Code of Civil Procedure Section 638 (or pursuant to comparable provisions of federal law if the dispute falls within the exclusive jurisdiction of the federal courts), sitting without a jury, in Santa Clara County,
California; and the parties hereby submit to the jurisdiction of such court. The reference proceedings shall be conducted pursuant to and in accordance with the provisions of California Code of Civil Procedure §§ 638 through 645.1,
inclusive. The private judge shall have the power, among others, to grant provisional relief, including without limitation, entering temporary restraining orders, issuing preliminary and permanent injunctions and appointing receivers. All such
proceedings shall be closed to the public and confidential and all records relating thereto shall be permanently sealed. If during the course of any dispute, a party desires to seek provisional relief, but a judge has not been appointed at that
point pursuant to the judicial reference procedures, then such party may apply to the Santa Clara County, California Superior Court for such relief. The proceeding before the private judge shall be conducted in the same manner as it would be before
a court under the rules of evidence applicable to judicial proceedings. The parties shall be entitled to discovery which shall be conducted in the same manner as it would be before a court under the rules of discovery applicable to judicial
proceedings. The private judge shall oversee discovery and may enforce all discovery rules and orders applicable to judicial proceedings in the same manner as a trial court judge. The parties agree that the selected or appointed private judge shall
have the power to decide all issues in the action or proceeding, whether of fact or of law, and shall report a statement of decision thereon pursuant to California Code of Civil Procedure § 644(a). Nothing in this paragraph shall limit the
right of any party at any time to exercise self-help remedies, foreclose against collateral, or obtain provisional remedies. The private judge shall also determine all issues relating to the applicability, interpretation, and enforceability of this
paragraph. 
 This Section 11 shall survive the termination of this Agreement. 

12. GENERAL PROVISIONS 

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

  
 24 

 12.2 Indemnification. Borrower agrees to indemnify, defend and hold Bank and
its directors, officers, employees, agents, attorneys, or any other Person affiliated with or representing Bank (each, an “Indemnified Person”) harmless against: (i) all obligations, demands, claims, and liabilities
(collectively, “Claims”) claimed or asserted by any other party in connection with the transactions contemplated by the Loan Documents; and (ii) all losses or expenses (including Bank Expenses) in any way suffered, incurred, or
paid by such Indemnified Person as a result of, following from, consequential to, or arising from transactions between Bank and Borrower contemplated by the Loan Documents (including reasonable attorneys’ fees and expenses), except for Claims
and/or losses directly caused by such Indemnified Person’s gross negligence or willful misconduct. 
 This Section 12.2 shall
survive until all statutes of limitation with respect to the Claims, losses, and expenses for which indemnity is given shall have run. 

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

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

12.6 Amendments in Writing; Waiver; Integration. No purported amendment or modification of any Loan Document, or waiver,
discharge or termination of any obligation under any Loan Document, shall be enforceable or admissible unless, and only to the extent, expressly set forth in a writing signed by the party against which enforcement or admission is sought. Without
limiting the generality of the foregoing, no oral promise or statement, nor any action, inaction, delay, failure to require performance or course of conduct shall operate as, or evidence, an amendment, supplement or waiver or have any other effect
on any Loan Document. Any waiver granted shall be limited to the specific circumstance expressly described in it, and shall not apply to any subsequent or other circumstance, whether similar or dissimilar, or give rise to, or evidence, any
obligation or commitment to grant any further waiver. The Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and
negotiations between the parties about the subject matter of the Loan Documents merge into the Loan Documents. 
 12.7
Counterparts. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one Agreement. 

  
 25 

 12.8 Survival. All covenants, representation and warranties made in this
Agreement continue in full force until this Agreement has terminated pursuant to its terms and all Obligations (other than inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this
Agreement) have been paid in full and satisfied. 
 12.9 Confidentiality. In handling any confidential information, Bank shall
exercise the same degree of care that it exercises for its own proprietary information, but disclosure of information may be made: (a) to Bank’s Subsidiaries or Affiliates (such Subsidiaries and Affiliates, together with Bank,
collectively, “Bank Entities”); (b) to prospective transferees or purchasers of any interest in the Credit Extensions (provided, however, Bank shall use its best efforts to obtain any prospective transferee’s or
purchaser’s agreement to the terms of this provision; (c) as required by law, regulation, subpoena, or other order; (d) to Bank’s regulators or as otherwise required in connection with Bank’s examination or audit;
(e) as Bank considers appropriate in exercising remedies under the Loan Documents; and (f) to third-party service providers of Bank so long as such service providers have executed a confidentiality agreement with Bank with terms no less
restrictive than those contained herein. Confidential information does not include information that is either: (i) in the public domain or in Bank’s possession when disclosed to Bank, or becomes part of the public domain (other than as a
result of its disclosure by Bank in violation of this Agreement) after disclosure to Bank through no fault of Bank; or (ii) disclosed to Bank by a third party, if Bank does not know that the third party is prohibited from disclosing the
information. 
 Bank Entities may use anonymous forms of confidential information for aggregate datasets, for analyses or reporting, and for
any other uses not expressly prohibited in writing by Borrower. The provisions of the immediately preceding sentence shall survive termination of this Agreement. 

12.10 Attorneys’ Fees, Costs and Expenses. In any action or proceeding between Borrower and Bank arising out of or relating
to the Loan Documents, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and other costs and expenses incurred, in addition to any other relief to which it may be entitled. 

12.11 Electronic Execution of Documents. The words “execution,” “signed,” “signature” and words of
like import in any Loan Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity and enforceability as a manually executed signature or the use
of a paper-based recordkeeping systems, as the case may be, to the extent and as provided for in any applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act. 

12.12 Captions. The headings used in this Agreement are for convenience only and shall not affect the interpretation of this
Agreement. 
 12.13 Construction of Agreement. The parties mutually acknowledge that they and their attorneys have participated
in the preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty to exist. 

  
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 12.14 Relationship. The relationship of the parties to this Agreement is
determined solely by the provisions of this Agreement. The parties do not intend to create any agency, partnership, joint venture, trust, fiduciary or other relationship with duties or incidents different from those of parties to an arm’s-length contract. 
 12.15 Third Parties. Nothing in this Agreement, whether
express or implied, is intended to: (a) confer any benefits, rights or remedies under or by reason of this Agreement on any persons other than the express parties to it and their respective permitted successors and assigns; (b) relieve or
discharge the obligation or liability of any person not an express party to this Agreement; or (c) give any person not an express party to this Agreement any right of subrogation or action against any party to this Agreement. 

12.16 Transitional Arrangements. On the Effective Date, this Agreement shall replace, amend, restate and supersede the Prior Loan
Agreement in its entirety, except as provided in this Section. On the Effective Date, the rights and obligations of the parties evidenced by the Prior Loan Agreement shall be evidenced by this Agreement and the other Loan Documents and the grant of
security interest in the Collateral by the Borrower under the Prior Loan Agreement and the other “Loan Documents” (as defined in the Prior Loan Agreement) shall continue under this Agreement and the other Loan Documents, and shall not in
any event be terminated, extinguished or annulled but shall hereafter be governed by this Agreement and the other Loans Documents. All references to the Prior Loan Agreement in any Loan Document or other document or instrument delivered in
connection therewith shall be deemed to refer to this Agreement and the provisions hereof. 
 13. DEFINITIONS 

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

“Account Debtor” is any “account debtor” as defined in the Code with such additions to such term as may hereafter
be made. 
 “Administrative Services Agreements” means each agreement under which Borrower is entitled to receive fees or
other payments for management, administrative, business or similar services, including, without limitations, the Administrative Services Agreements between Borrower and each applicable Medical Group. 

“Affiliate” is, with respect to any Person, each other Person that owns or controls directly or indirectly the Person, any
Person that controls or is controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners and, for any Person that is a limited liability company, that Person’s managers
and members. 

  
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 “Agreement” is defined in the preamble hereof. 

“Authorized Signer” is any individual listed in Borrower’s Borrowing Resolution who is authorized to execute the Loan
Documents, including any Growth Capital Advance request, on behalf of Borrower. 
 “Assignment of Administrative Services
Agreement” means each Collateral Assignment of Administrative Services Agreement among Bank, Borrower and any applicable Medical Group. 

“Bank” is defined in the preamble hereof. 

“Bank Entities” is defined in Section 12.8. 

“Bank Expenses” are all audit fees and expenses, costs, and expenses (including reasonable attorneys’ fees and expenses)
for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency Proceedings) or otherwise incurred with respect to Borrower. 

“Bank Services” are any products, credit services, and/or financial accommodations previously, now, or hereafter provided to
Borrower or any of its Subsidiaries by Bank or any Bank Affiliate, including, without limitation, any letters of credit, cash management services (including, without limitation, merchant services, direct deposit of payroll, business credit cards,
and check cashing services), interest rate swap arrangements, and foreign exchange services as any such products or services may be identified in Bank’s various agreements related thereto (each, a “Bank Services Agreement”).

 “Borrower” is defined in the preamble hereof. 

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

“Borrowing Resolutions” are, with respect to any Person, those resolutions substantially in the form attached hereto as
Exhibit C. 
 “Business Day” is any day that is not a Saturday, Sunday or a day on which Bank is closed. 

“Cash Equivalents” means (a) marketable direct obligations issued or unconditionally guaranteed by the United States or
any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either
Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc.; and (c) Bank’s certificates of deposit issued maturing no more than one (1) year after issue. 

  
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 “Claims” is defined in Section 12.2. 

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

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

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

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

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

“Control Agreement” is any control agreement entered into among the depository institution at which Borrower maintains a
Deposit Account or the securities intermediary or commodity intermediary at which Borrower maintains a Securities Account or a Commodity Account, Borrower, and Bank pursuant to which Bank obtains control (within the meaning of the Code) over such
Deposit Account, Securities Account, or Commodity Account. 
 “Conversion Date” is defined in Section 2.1.2(b). 

  
 29 

 “Copyrights” are any and all copyright rights, copyright applications,
copyright registrations and like protections in each work of authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret. 

“Credit Extension” is the Growth Capital Advance, or any other extension of credit by Bank for Borrower’s benefit. 

“Default Rate” is defined in Section 2.2(b). 

“Deposit Account” is any “deposit account” as defined in the Code with such additions to such term as may hereafter
be made. 
 “Designated Deposit Account” is the multicurrency account denominated in Dollars, account number 694656,
maintained by Borrower with Bank. 
 “Dollars,” “dollars” or use of the sign “$” means
only lawful money of the United States and not any other currency, regardless of whether that currency uses the “$” sign to denote its currency or may be readily converted into lawful money of the United States. 

“Draw Period” is the period of time from the Effective Date through the earlier to occur of (a) September 30, 2015 or
(b) an Event of Default. 
 “Effective Date” is defined in the preamble hereof. 

“Equipment” is all “equipment” as defined in the Code with such additions to such term as may hereafter be made,
and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing. 

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

“Event of Default” is defined in Section 8. 

“Existing Growth Capital Loan” is defined in Recital B. 

“Existing Growth Capital Loan Prepayment” is defined in Section 2.1.1. 

“Final Payment” is a payment (in addition to and not a substitution for the regular monthly payments of principal and accrued
interest) due on the date set forth in Section 2.1.2(c) and 2.3(b) equal to Eight Hundred Twenty-Five Thousand Dollars ($825,000). 

“Foreign Currency” means lawful money of a country other than the United States. 

“Funding Date” is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business
Day. 
 “FX Contract” is any foreign exchange contract by and between Borrower and Bank under which Borrower commits to
purchase from or sell to Bank a specific amount of Foreign Currency on a specified date. 

  
 30 

 “GAAP” is generally accepted accounting principles set forth in the
opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other Person
as may be approved by a significant segment of the accounting profession, which are applicable to the circumstances as of the date of determination. 

“General Intangibles” is all “general intangibles” as defined in the Code in effect on the date hereof with such
additions to such term as may hereafter be made, and includes without limitation, all Intellectual Property, claims, income and other tax refunds, security and other deposits, payment intangibles, contract rights, options to purchase or sell real or
personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance policies (including without limitation key man, property damage, and business interruption insurance), payments of
insurance and rights to payment of any kind. 
 “Governmental Approval” is any consent, authorization, approval, order,
license, franchise, permit, certificate, accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority. 

“Governmental Authority” is any nation or government, any state or other political subdivision thereof, any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities exchange and any
self-regulatory organization. 
 “Growth Capital Advance” is defined in Section 2.1.2(a). 

“Growth Capital Line” is a Growth Capital Advance in an original principal amount equal to Ten Million Dollars
($10,000,000). 
 “Growth Capital Maturity Date” is, for the Growth Capital Advance, the date on which the thirtieth (30th) Growth Capital Payment is due with respect to the Growth Capital Advance, but in no event later than December 1, 2018. 

“Growth Capital Payment” is defined in Section 2.1.2(b). 

“Growth Capital Repayment Period” as to the Growth Capital Advance, is a period of time equal to thirty (30) consecutive
months commencing on the Conversion Date. 
 “Indebtedness” is (a) indebtedness for borrowed money or the deferred
price of property or services, such as reimbursement and other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease obligations, and
(d) Contingent Obligations. 
 “Indemnified Person” is defined in Section 12.2. 

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

  
 31 

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

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

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

(e) any and all claims for damages by way of past, present and future infringement of any of the foregoing, with the right, but not the
obligation, to sue for and collect such damages for said use or infringement of the Intellectual Property rights identified above; and 
 (f)
all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents. 
 “Interest-Only Period” means
the period commencing on the first (1st) calendar day of the month immediately following the month in which the Funding Date of the Growth Capital Advance occurs and continuing through the last
calendar day of the ninth (9th) month immediately following the month in which the Funding Date of the Growth Capital Advance occurs. 

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

“Investment” is any beneficial ownership interest in any Person (including stock, partnership interest or other securities),
and any loan, advance or capital contribution to any Person. 
 “Letter of Credit” is a standby or commercial letter of
credit issued by Bank upon request of Borrower based upon an application, guarantee, indemnity, or similar agreement. 

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

  
 32 

 “Loan Documents” are, collectively, this Agreement and any schedules,
exhibits, certificates, notices, and any other documents related to this Agreement, the Warrants, the Perfection Certificate, each Assignment of Administrative Services Agreement, any Bank Services Agreement, any subordination agreement, any note,
or notes or guaranties executed by Borrower, and any other present or future agreement by Borrower with or for the benefit of Bank in connection with this Agreement or Bank Services, all as amended, restated, or otherwise modified. 

“Make-Whole Premium” is, with respect to the Growth Capital Advance, an amount equal to (a) two percent (2.00%) of the
outstanding principal amount of the Growth Capital Advance made to Borrower under this Agreement if the prepayment is made on or before the first (1st) anniversary of the Effective Date; and
(b) one percent (1.00%) of the outstanding principal amount of the Growth Capital Advance made to Borrower under this Agreement if the prepayment is made after the first (1st) anniversary of
the Effective Date. 
 “Material Adverse Change” is (a) a material impairment in the perfection or priority of
Bank’s Lien in the Collateral or in the value of such Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of Borrower; or (c) a material impairment of the prospect of repayment
of any portion of the Obligations. 
 “Medical Groups” means One Medical Group, P.C., One Medical Group, Inc., One Medical
of NY, P.C., One Medical of Arizona, P.C., One Medical Group of LA, Inc., One Medical Labs, Inc., and any other medical group and their respective successors and assigns that makes payments to Borrower under an Administrative Services Agreement for
administrative, management, business or similar services, whether directly or indirectly. 
 “Monthly Financial Statements”
is defined in Section 6.2(a). 
 “Obligations” are Borrower’s obligations to pay when due any debts, principal,
interest, fees, Bank Expenses, and other amounts Borrower owes Bank now or later, whether under this Agreement, the other Loan Documents (other than the Warrants), or otherwise, including, without limitation, all obligations relating to letters of
credit (including reimbursement obligations for drawn and undrawn letters of credit), cash management services, and foreign exchange contracts, if any, and including interest accruing after Insolvency Proceedings begin and debts, liabilities, or
obligations of Borrower assigned to Bank, and to perform Borrower’s duties under the Loan Documents (other than the Warrants). 

“Operating Documents” are, for any Person, such Person’s formation documents, as certified by the Secretary of State (or
equivalent agency) of such Person’s jurisdiction of organization on a date that is no earlier than thirty (30) days prior to the Effective Date, and, (a) if such Person is a corporation, its bylaws in current form, (b) if such
Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its partnership agreement (or similar agreement), each of the foregoing with all current amendments
or modifications thereto. 
 “Patents” means all patents, patent applications and like protections including without
limitation improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same. 

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

  
 33 

 “Perfection Certificate” is defined in Section 5.1. 

“Permitted Indebtedness” is: 

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

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

(c) Subordinated Debt; 
 (d)
unsecured Indebtedness to trade creditors incurred in the ordinary course of business; 
 (e) Indebtedness incurred as a result of endorsing
negotiable instruments received in the ordinary course of business; 
 (f) Indebtedness secured by Permitted Liens; 

(g) extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (c) above,
provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon Borrower or its Subsidiary, as the case may be; and 

(h) other unsecured Indebtedness not otherwise permitted in Section 7.4 not exceeding One Hundred Thousand Dollars ($100,000) in the
aggregate outstanding at any time. 
 “Permitted Investments” are: 

(a) Investments (including, without limitation, Subsidiaries) existing on the Effective Date and shown on the Perfection Certificate; 

(b) Investments consisting of Cash Equivalents; 

(c) Investments consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary
course of Borrower; 
 (d) Investments consisting of deposit accounts in which Bank has a perfected security interest; 

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

(f) Investments (i) by Borrower in Subsidiaries not to exceed One Hundred Fifty Thousand Dollars ($150,000) in the aggregate in any fiscal
year and (ii) by Subsidiaries in other Subsidiaries not to exceed One Hundred Fifty Thousand Dollars ($150,000) in the aggregate in any fiscal year or in Borrower; 

  
 34 

 (g) Investments consisting of (i) travel advances and employee relocation loans and
other employee loans and advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to employee stock purchase plans or
agreements approved by Borrower’s Board of Directors; 
 (h) Investments (including debt obligations) received in connection with the
bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 

(i) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are not
Affiliates, in the ordinary course of business; provided that this paragraph (i) shall not apply to Investments of Borrower in any Subsidiary; and 

(j) joint ventures or strategic alliances entered into in the ordinary course of Borrower’s business involving the non-exclusive licensing of technology, the development of technology, the providing of technical support and/or the arrangement and provision of clinical and related administrative and management services, provided
that any cash investments by Borrower do not exceed (i) Two Hundred Fifty Thousand Dollars ($250,000) for each such Investment in any fiscal year of Borrower or (ii) One Million Dollars ($1,000,000) in the aggregate for all such
Investments in any fiscal year of Borrower. 
 “Permitted Liens” are: 

(a) Liens existing on the Effective Date and shown on the Perfection Certificate or arising under this Agreement and the other Loan Documents;

 (b) Liens for taxes, fees, assessments or other government charges or levies, either (i) not due and payable or (ii) being
contested in good faith and for which Borrower maintains adequate reserves on its Books, provided that no notice of any such Lien has been filed or recorded under the Internal Revenue Code of 1986, as amended, and the Treasury Regulations adopted
thereunder; 
 (c) purchase money Liens (i) on Equipment acquired or held by Borrower incurred for financing the acquisition of the
Equipment securing no more than One Hundred Fifty Thousand Dollars ($150,000) in the aggregate amount outstanding, or (ii) existing on Equipment when acquired, if the Lien is confined to the property and improvements and the proceeds of the
Equipment; 
 (d) Liens of carriers, warehousemen, suppliers, or other Persons that are possessory in nature arising in the ordinary course
of business so long as such Liens attach only to Inventory, securing liabilities in the aggregate amount not to exceed One Hundred Fifty Thousand Dollars ($150,000) and which are not delinquent or remain payable without penalty or which are being
contested in good faith and by appropriate proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto; 

  
 35 

 (e) Liens to secure payment of workers’ compensation, employment insurance, old-age pensions, social security and other like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA); 

(f) Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (c), but any
extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase; 

(g) leases or subleases of real property granted in the ordinary course of Borrower’s business (or, if referring to another Person, in the
ordinary course of such Person’s business), and leases, subleases, non-exclusive licenses or sublicenses of personal property (other than Intellectual Property) granted in the ordinary course of
Borrower’s business (or, if referring to another Person, in the ordinary course of such Person’s business), if the leases, subleases, licenses and sublicenses do not prohibit granting Bank a security interest therein; 

(h) non-exclusive license of Intellectual Property granted to third parties in the ordinary course of
business; 
 (i) Liens arising from attachments or judgments, orders, or decrees in circumstances not constituting an Event of Default under
Sections 8.4 and 8.7; and 
 (j) Liens in favor of other financial institutions arising in connection with Borrower’s deposit
and/or securities accounts held at such institutions, provided that Bank has a perfected security interest in the amounts held in such deposit and/or securities accounts. 

“Person” is any individual, sole proprietorship, partnership, limited liability company, joint venture, company, trust,
unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency. 

“Prime Rate” is the rate of interest per annum from time to time published in the money rates section of The Wall Street
Journal or any successor publication thereto as the “prime rate” then in effect; provided that if such rate of interest, as set forth from time to time in the money rates section of The Wall Street Journal, becomes unavailable
for any reason as determined by Bank, the “Prime Rate” shall mean the rate of interest per annum announced by Bank as its prime rate in effect at its principal office in the State of California (such Bank announced Prime Rate not being
intended to be the lowest rate of interest charged by Bank in connection with extensions of credit to debtors). 
 “Prior Loan
Agreement” is defined in Recital A. 
 “Registered Organization” is any “registered organization” as
defined in the Code with such additions to such term as may hereafter be made. 
 “Requirement of Law” is as to any Person,
the organizational or governing documents of such Person, and any law (statutory or common), treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such
Person or any of its property or to which such Person or any of its property is subject. 

  
 36 

 “Responsible Officer” is any of the Chief Executive Officer or Chief
Financial Officer of Borrower who are as of the Effective Date, Thomas Lee and Paul Kirincich, respectively. 
 “Restricted
License” is any material license or other agreement with respect to which Borrower is the licensee (a) that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license or
agreement or any other property, or (b) for which a default under or termination of could interfere with the Bank’s right to sell any Collateral. 

“SEC” shall mean the Securities and Exchange Commission, any successor thereto, and any analogous Governmental Authority.

 “Securities Account” is any “securities account” as defined in the Code with such additions to such term as
may hereafter be made. 
 “Subordinated Debt” is indebtedness incurred by Borrower subordinated to all of Borrower’s
now or hereafter indebtedness to Bank (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into between Bank and the other creditor), on terms acceptable to Bank. 

“Subsidiary” is, as to any Person, a corporation, partnership, limited liability company or other entity of which shares of
stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers
of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. Unless the context otherwise requires,
each reference to a Subsidiary herein shall be a reference to a Subsidiary of Borrower. 
 “Trademarks” means any trademark
and servicemark rights, whether registered or not, applications to register and registrations of the same and like protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks. 

“Transfer” is defined in Section 7.1. 

“Warrants” means, collectively, that certain (i) Warrant to Purchase Stock dated as of February 26, 2010, executed
by Borrower in favor of Bank, (ii) Warrant to Purchase Stock dated as of June 28, 2011, executed by Borrower in favor of Bank, (iii) Warrant to Purchase Stock dated as of January 29, 2013, executed by Borrower in favor of Bank,
(iv) Warrant to Purchase Stock dated as of Effective Date, executed by Borrower in favor of Bank, and (v) any other warrants to purchase stock previously or now or hereafter executed by Borrower in favor of Bank, each as may be amended,
modified, supplemented or restated from time to time. 
 [Signature page follows.] 

  
 37 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as
of the Effective Date. 
  

			
	BORROWER:
	
	1LIFE HEALTHCARE, INC.
		
	By:	 	 /s/ Paul Kirincich

	Name:	 	Paul Kirincich
	Title:	 	CFO
	
	BANK:
	
	SILICON VALLEY BANK
		
	By:	 	 /s/ Milo Bissin

	Name:	 	Milo Bissin
	Title:	 	VP

  

  
 [SIGNATURE PAGE TO SECOND
AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT] 

 EXHIBIT A – COLLATERAL DESCRIPTION 

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

All goods, Accounts (including health-care receivables), Equipment, Inventory, contract rights or rights to payment of money including any and
all fees for management, administrative, business or similar services, leases, license agreements, franchise agreements, General Intangibles (except as provided below), commercial tort claims, documents, instruments (including any promissory notes),
chattel paper (whether tangible or electronic), cash, deposit accounts, fixtures, letters of credit rights (whether or not the letter of credit is evidenced by a writing), securities, and all other investment property, supporting obligations, and
financial assets, whether now owned or hereafter acquired, wherever located; and 
 All Borrower’s Books relating to the foregoing, and
any and all claims, rights and interests in any of the above and all substitutions for, additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds and insurance proceeds of any or all of the foregoing.

 Notwithstanding the foregoing, the Collateral does not include: (A) Borrower’s voting rights in OMG Arizona, LLC created solely
in connection with the joint venture arrangement entered into with Dignity Health in Arizona on September 17, 2014; or (B) any Intellectual Property; provided, however, the Collateral shall include all Accounts and all proceeds of
Intellectual Property. If a judicial authority (including a U.S. Bankruptcy Court) would hold that a security interest in the underlying Intellectual Property is necessary to have a security interest in such Accounts and such property that
are proceeds of Intellectual Property, then the Collateral shall automatically, and effective as of the Effective Date, include the Intellectual Property to the extent necessary to permit perfection of Bank’s security interest in such Accounts
and such other property of Borrower that are proceeds of the Intellectual Property. 
 Pursuant to the terms of a certain negative pledge
arrangement with Bank, Borrower has agreed not to encumber any of its Intellectual Property without Bank’s prior written consent. 

  
 Exhibit A 

 EXHIBIT B – LOAN PAYMENT/ADVANCE REQUEST FORM 

DEADLINE FOR SAME DAY PROCESSING IS
NOON PACIFIC TIME 
  

			
	Fax To:	  	Date:                     

  

			
	LOAN PAYMENT:	  	
	
	1LIFE HEALTHCARE, INC.

  

			
	From Account #
                                         
                   	  	To Account #                                  
                                  
	(Deposit Account #)	  	(Loan Account #)
	Principal
$                                         
                             	  	and/or Interest
$                                         
                       
		
	Authorized Signature:
                                         
                   	  	                Phone Number:
                                         
       
	Print Name/Title:
                                         
                           	  	

 
  

LOAN ADVANCE: 

Complete Outgoing Wire Request section below if all or a portion of the funds from this loan advance are for an outgoing wire. 

 

			
	From Account
#                                         
                       	  	To Account
#                                         
                         
	(Loan Account #)	  	(Deposit Account #)
		
	Amount of Advance
$                                         
             	  	

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

 

			
	Authorized
Signature:                                       
                 	  	            Phone Number:
                                         
                   
	Print Name/Title:
                                         
                     	  	

 
  

OUTGOING WIRE REQUEST: 

Complete only if all or a portion of funds from the loan advance above is to be wired. 

Deadline for same day processing is noon, Pacific Time 
  

			
	Beneficiary Name:
                                         
                           	  	Amount of Wire:
$                                         
                             
	Beneficiary Bank:
                                         
                            	  	Account Number:
                                         
                              
	City and State:
                                         
                                 	  	

			
		
	Beneficiary Bank Transit (ABA) #:
                                    	  	Beneficiary Bank Code (Swift, Sort, Chip, etc.):                        
		  	            (For International Wire Only)
		
	Intermediary Bank:
                                         
                   	  	Transit (ABA) #:
                                         
                               
	For Further Credit
to:                                        
                                         
                                         
                                         
                               
	
	Special Instruction:
                                         
                                         
                                         
                                         
                                

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

 

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

 

  
 Exhibit B 

 EXHIBIT C – BORROWING RESOLUTIONS 

[see attached] 

  
 Exhibit C 

 EXHIBIT D 

COMPLIANCE CERTIFICATE 
  

					
	TO:	  	SILICON VALLEY BANK	  	Date:                             
	FROM:	  	1LIFE HEALTHCARE, INC.	  	

 The undersigned authorized officer of 1LIFE HEALTHCARE, INC. (“Borrower”) certifies that under the
terms and conditions of the Second Amended and Restated Loan and Security Agreement between Borrower and Bank (the “Agreement”): 

(1) Borrower is in complete compliance for the period ending
                     with all required covenants except as noted below; (2) there are no Events of Default; (3) all representations
and warranties in the Agreement are true and correct in all material respects on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are
qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date;
(4) Borrower, and each of its Subsidiaries, has timely filed all required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except as
otherwise permitted pursuant to the terms of Section 5.9 of the Agreement; and (5) no Liens have been levied or claims made against Borrower or any of its Subsidiaries relating to unpaid employee payroll or benefits of which Borrower has
not previously provided written notification to Bank. 
 Attached are the required documents supporting the certification. The undersigned
certifies that these are prepared in accordance with GAAP consistently applied from one period to the next except as explained in an accompanying letter or footnotes (except for the absence of footnotes with respect to unaudited financial
statements). The undersigned acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any of the terms of the Agreement, and that compliance is determined not just at the date this
certificate is delivered. Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Agreement. 
 Please indicate
compliance status by circling Yes/No under “Complies” column. 
  

					
	 Reporting Covenant
	  	 Required
	  	 Complies

	Monthly financial statements with 
Compliance Certificate (“CC”)	  	Monthly within 45 days	  	Yes No
			
	Annual financial statement (CPA Audited) + CC	  	FYE within 180 days	  	Yes No
			
	Annual projections and operating plan	  	 Within 45 days after the last day of each
 FYE,
or more frequently as periodically updated by Borrower
	  	Yes No
			
	Individual store financials and metrics	  	Monthly within 45 days	  	Yes No

  

							
	 1LIFE HEALTHCARE, INC.
	  		  	 BANK USE ONLY

				
		 		  		  	 Received by:
                                         
       

	 By:
	 	
                     
                                         
           
	  		  	
                   
             AUTHORIZED SIGNER
  

	 Name:
	 	
                     
                                         
           
	  		  	
Date:                  
                                      

	 Title:
	 	
                     
                                         
           
	  	    	  	    
		 		  		  	 Verified:
                                         
             

		 		  		  	
                   
             AUTHORIZED SIGNER

				
		 		  		  	
Date:                  
                                      

				
		 		  		  	 Compliance Status:         Yes
    No

 FIRST AMENDMENT TO 

SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

THIS FIRST AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered
into this ____ day of October, 2016, by and between SILICON VALLEY BANK, a California corporation (“Bank”), and 1LIFE HEALTHCARE, INC., a Delaware corporation (“Borrower”). 

RECITALS 

A. Bank and Borrower have entered into that certain Second Amended and Restated Loan and Security Agreement dated as of January 26, 2015
(as the same may from time to time be amended, modified, supplemented or restated, the “Loan Agreement”). 
 B. Bank has
extended credit to Borrower for the purposes permitted in the Loan Agreement. 
 C. Borrower has requested that Bank amend the Loan Agreement
to (i) add a new growth capital loan facility to refinance and replace the Existing Growth Capital Loan (as hereinafter defined), and (ii) make certain other revisions to the Loan Agreement as more fully set forth herein. 

D. Bank has agreed to (i) add a new growth capital loan facility to refinance and replace the Existing Growth Capital Loan and
(ii) make certain other revisions to the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below. 

AGREEMENT 

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

2. Amendments to Loan Agreement. 

2.1 Existing Growth Capital Loan. Borrower hereby acknowledges that, as part of the Loan Agreement, Bank made a Growth Capital
Advance to Borrower in the principal amount of Ten Million Dollars ($10,000,000) (the “Existing Growth Capital Loan”). Borrower represents and warrants to Bank that as of the First Amendment Effective Date, the outstanding principal
balance of the Existing Growth Capital Loan is Eight Million Seven Hundred Thirty-Eight Thousand Nine Hundred Eighty and 15/100 Dollars ($8,738,980.15). Borrower represents and warrants to Bank that all of such sum is due and owing Bank, without
offset or defense of any kind or nature and in the event Borrower has any offsets or defenses thereto, Borrower hereby irrevocably waives all such offsets and defenses. Borrower 

  
 3 

 
acknowledges and agrees that the execution of this Amendment is not intended to and shall not cause or result in a novation with respect to the Existing Growth Capital Loan. Borrower and Bank
acknowledge and agree that there is no further availability to borrow under the Existing Growth Capital Loan. Borrower shall, on the First Amendment Effective Date and in conjunction with Borrower’s execution of this Amendment, use the proceeds
from the Supplemental Growth Capital Advance (as hereinafter defined) to repay in full in cash all of the Obligations owing to Bank under the Existing Growth Capital Loan, including, without limitation, the amount of the Final Payment due to Bank
under the Loan Agreement (the “Existing Growth Capital Loan Prepayment”). Notwithstanding anything to the contrary, upon making the Existing Growth Capital Loan Prepayment, Bank hereby agrees to waive the Make-Whole Premium which
would otherwise be owed by Borrower to Bank under the Loan Agreement. 
 2.2 Section 2.1.3 (Supplemental Growth Capital
Advance). Section 2.1.3 is hereby added immediately after Section 2.1.2 of the Loan Agreement as follows: 
 2.1.3
Supplemental Growth Capital Advance. 
 (a) Availability. Subject to the satisfaction of the terms and
conditions of this Agreement, Bank shall make a single growth capital advance to Borrower (the “Supplemental Growth Capital Advance”), on the First Amendment Effective Date, in an amount equal to the Supplemental Growth Capital Loan
Amount. After repayment, the Supplemental Growth Capital Advance may not be re-borrowed. 

(b) Repayment. Borrower shall repay the Supplemental Growth Capital Advance as follows: (i) payments of accrued
interest only, commencing on the first (1st) calendar day of the month immediately following the month in which the Funding Date of the Supplemental Growth Capital Advance occurs, and continuing
on the first (1st) calendar day of each month thereafter during the Supplemental Growth Capital Interest-Only Period; and (ii) commencing on the first (1st) calendar day of the month immediately following the month in which the Supplemental Growth Capital Interest-Only Period ends (the “Supplemental Growth Capital Conversion
Date”) and continuing on the first (1st) calendar day of each month thereafter, thirty (30) consecutive equal monthly payments of principal plus accrued interest (each, a
“Supplemental Growth Capital Payment”) each in an amount which would fully amortize the outstanding Supplemental Growth Capital Advance, as of the Supplemental Growth Capital Conversion Date, over the Supplemental Growth
Capital Repayment Period. Notwithstanding the foregoing, all unpaid principal and interest on the Supplemental Growth Capital Advance shall be due on the Supplemental Growth Capital Maturity Date. 

(c) Supplemental Growth Capital Final Payment. With respect to the Supplemental Growth Capital Advance, on the earlier
of (i) the date of the final Supplemental Growth Capital Payment, (ii) the Supplemental Growth Capital Maturity Date, or (iii) upon a prepayment in accordance with Sections 2.1.3(d) and (e), Borrower shall pay, in addition to the
outstanding principal, accrued and unpaid interest, and all other amounts due on such date with respect to the Supplemental Growth Capital Advance, an amount equal to the Supplemental Growth Capital Final Payment. 

  
 4 

 (d) Mandatory Prepayment Upon an Acceleration. If the Supplemental
Growth Capital Advance is accelerated following the occurrence and during the continuance of an Event of Default, Borrower shall immediately pay to Bank, an amount equal to the sum of (i) accrued and unpaid interest with respect to the
Supplemental Growth Capital Advance, plus (ii) all outstanding principal with respect to the Supplemental Growth Capital Advance, plus (iii) the Supplemental Growth Capital Final Payment, plus (iv) the Supplemental Growth Capital
Make-Whole Premium, plus (v) all other sums, including Bank Expenses, if any, that have become due and payable hereunder with respect to the Supplemental Growth Capital Growth Capital Advance, including interest at the Default Rate with respect
to any past due amounts. 
 (e) Voluntary Prepayment. At Borrower’s option, so long as an Event of Default has
not occurred and is not continuing, Borrower shall have the option to prepay all, but not less than all, of the outstanding Supplemental Growth Capital Advance, provided Borrower (i) delivers written notice to Bank of its election to exercise
its option to prepay the Supplemental Growth Capital Advance at least ten (10) days prior to such prepayment, and (ii) pays, on the date of such prepayment (A) all accrued and unpaid interest with respect to the Supplemental Growth
Capital Advance, (B) all unpaid principal with respect to the Supplemental Growth Capital Advance, (C) the Supplemental Growth Capital Final Payment, (D) the applicable Supplemental Growth Capital Make-Whole Premium, and (E) all
other sums, including Bank Expenses, if any, that shall have become due and payable hereunder with respect to the Supplemental Growth Capital Advance, including interest at the Default Rate with respect to any past due amounts. 

2.3 Section 2.2 (Payment of Interest on the Credit Extensions). Section 2.2(a) of the Loan Agreement is hereby amended by
adding the following to the end of Section 2.2(a): 
 Subject to Section 2.2(b), the principal amount outstanding
for the Supplemental Growth Capital Advance shall accrue interest at a floating per annum rate equal to the greater of (A) the Prime Rate or (B) three and one-half of one percent (3.50%), which
interest shall be payable monthly. 
 2.4 Section 2.3 (Fees). Section 2.3 of the Loan Agreement is hereby amended by
adding the following immediately after Section 2.3(e) as subsections (f) and (g): 
 (f) Supplemental Growth
Capital Final Payment. The Supplemental Growth Capital Final Payment when due hereunder; and 
 (g) Supplemental
Growth Capital Make-Whole Premium. The Supplemental Growth Capital Make-Whole Premium when due hereunder. 

  
 5 

 2.5 Section 3.5 (Procedures for Borrowing). Section 3.5 of the Loan
Agreement is hereby amended by adding the following Section 3.5(b) immediately following Section 3.5(a): 
 (b)
Subject to the prior satisfaction of all other applicable conditions to the making of the Supplemental Growth Capital Advance set forth in this Agreement, to obtain the Supplemental Growth Capital Advance, Borrower shall notify Bank (which notice
shall be irrevocable) by electronic mail, facsimile, or telephone by 12:00 p.m. Pacific time on the Funding Date of the Supplemental Growth Capital Advance. Together with any such electronic or facsimile notification, Borrower shall deliver to
Bank by electronic mail or facsimile a completed Payment/Advance Form executed by a Responsible Officer or his or her designee. Bank may rely on any telephone notice given by a person whom Bank believes is a Responsible Officer or designee. Bank
shall credit the Supplemental Growth Capital Advance to the Designated Deposit Account. Bank may make the Supplemental Growth Capital Advance under this Agreement based on instructions from a Responsible Officer or his or her designee or without
instructions if the Supplemental Growth Capital Advance is necessary to meet Obligations which have become due. 
 2.6 Section 6.2
(Financial Statements, Reports, Certificates). Section 6.2(h) of the Loan Agreement is hereby amended in its entirety and replaced with the following: 

(h) [Reserved]. 

2.7 Section 6.6 (Operating Accounts). The last sentence in Section 6.6(b) of the Loan Agreement is hereby amended in its
entirety and replaced with the following: 
 The provisions of the previous sentence shall not apply to (i) deposit
accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such, and (ii) Borrower’s accounts with PayPal,
Stripe, Moneris and Pivitol (or any replacement payment provider disclosed in the Perfection Certificate) so long as Borrower sweeps such account to the Designated Deposit Account maintained with Bank on a monthly basis. 

2.8 Section 6.9 (Reserved). Section 6.9 of the Loan Agreement is hereby amended in its entirety and replaced with the
following: 
 6.9 Financial Covenants. Maintain at least one of the following two financial covenants:

 (a) Liquidity Ratio. Maintain at all times, to be tested as of the last day of each month, a Liquidity Ratio of not
less than 1.50 to 1.00; or 
 (b) Fixed Charge Coverage Ratio. Maintain at all times, to be tested as of the last day
of each month, a Fixed Charge Coverage Ratio of not less than 1.25 to 1.00. 

  
 6 

 2.9 Section 8.1 (Payment Default). Section 8.1 of the Loan Agreement is
hereby amended in its entirety and replaced with the following: 
 8.1 Payment Default. Borrower fails to
(i) make any payment of principal or interest on any Credit Extension when due, or (ii) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day cure period
shall not apply to payments due on the Growth Capital Maturity Date or the Supplemental Growth Capital Maturity Date). During the cure period, the failure to make or pay any payment specified under clause (ii) hereunder is not an Event of
Default (but no Credit Extension will be made during the cure period); 
 2.10 Section 13 (Definitions). 

(a) The following terms and their respective definitions set forth in Section 13.1 of the Loan Agreement are amended in their entirety and
replaced with the following: 
 “Authorized Signer” is any individual listed in Borrower’s Borrowing
Resolution who is authorized to execute the Loan Documents, including any Growth Capital Advance or Supplemental Growth Capital request, on behalf of Borrower. 

“Credit Extension” is the Growth Capital Advance, the Supplemental Growth Capital Advance, or any other
extension of credit by Bank for Borrower’s benefit. 
 “Medical Groups” means (i) One Medical
Group, P.C., a Virginia professional stock corporation, (ii) One Medical Group, P.C., an Illinois professional corporation, (iii) One Medical Group, P.C., a Massachusetts professional corporation, (iv) One Medical Group, P.C., a
District of Columbia professional corporation, (v) One Medical Group, P.C., a New York professional corporation, (vi) One Medical Group, Inc., a California professional corporation, (vii) One Medical of NY, P.C., a New York
professional corporation, (viii) One Medical of Arizona, P.C., an Arizona professional corporation, (ix) One Medical Group of LA, Inc., a California professional corporation, (x) One Medical Labs, Inc., a California professional
corporation, (xi) Apollo Medical Group, Inc., a California professional corporation, and (xii) One Medical Group of Washington, P.C., a Washington professional corporation, and any other medical group and their respective successors and
assigns that makes payments to Borrower under an Administrative Services Agreement for administrative, management, business or similar services, whether directly or indirectly. 

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

  
 7 

 (b) The definition of “Permitted Indebtedness” as set forth in
Section 13.1 of the Loan Agreement is hereby amended by adding the following subsection immediately after subsection (h) as subsection (i): 

(i) Indebtedness to Cisco up to the maximum amount not to exceed $891,929.39 pursuant to the Cisco Lease Agreement. 

(c) The definition of “Permitted Liens” as set forth in Section 13.1 of the Loan Agreement is hereby amended by adding
the following subsection immediately after subsection (j) as subsection (k): 
 (k) Liens on specific equipment and any
proceeds thereof in favor of Cisco pursuant to the Cisco Lease Agreement. 
 (d) The following terms and their respective definitions are
hereby added in alphabetical order to Section 13.1 of the Loan Agreement as follows: 
 “Adjusted
EBITDA” means, for any period of determination, an amount equal to (i) EBITDA for the trailing twelve (12) months, minus (ii) unfunded capital expenditures of Borrower for the trailing twelve (12) months, minus
(iii) cash taxes paid by Borrower for the trailing twelve (12) months, minus (iv) cash dividends paid by Borrower for the trailing twelve (12) months. 

“Cisco” means Cisco Systems Capital Corporation, its successors and assigns. 

“Cisco Lease Agreement” means that certain Master Lease and Financing Agreement No. 12032 by and
between Borrower and Cisco dated June 23, 2015. 
 “EBITDA” shall mean (a) Net Income, plus
(b) Interest Expense, plus (c) to the extent deducted in the calculation of Net Income, depreciation expense and amortization expense, plus (d) income tax expense, plus (e) any non-cash
stock compensation. 
 “First Amendment Effective Date” is October __, 2016. 

“Fixed Charge Coverage Ratio” means, for any period of determination thereof, the ratio of (a) Adjusted
EBITDA to (b) Fixed Charges. 
 “Fixed Charges” means, for any period of determination, fees,
principal, and interest of Obligations of Borrower in connection with the Supplemental Growth Capital Advances and the Indebtedness of Borrower in connection with the capital leases (under the existing Generally Accepted Accounting Principles
definition of capital leases), all due within the next twelve (12) months. 

  
 8 

 “Interest Expense” means for any fiscal period, interest
expense (whether cash or non-cash) determined in accordance with GAAP for the relevant period ending on such date, including, in any event, interest expense with respect to any Credit Extension and other
Indebtedness of Borrower and its Subsidiaries, including, without limitation or duplication, all commissions, discounts, or related amortization and other fees and charges with respect to letters of credit and bankers’ acceptance financing and
the net costs associated with interest rate swap, cap, and similar arrangements, and the interest portion of any deferred payment obligation (including leases of all types). 

“Liquidity Ratio” means a ratio of (i) Quick Assets to (ii) the aggregate outstanding principal
balance under the Supplemental Growth Capital Advances. 
 “Net Income” means, as calculated on a
consolidated basis for Borrower and its Subsidiaries for any period as at any date of determination, the net profit (or loss), after provision for taxes, of Borrower and its Subsidiaries for such period taken as a single accounting period. 

“Quick Assets” is the sum of (a) the aggregate amount of Borrower’s unrestricted cash and Cash
Equivalents maintained at Bank and Bank’s Affiliates, and (b) the amount that is sixty-five percent (65%) of Borrower’s net accounts receivable. 

“Supplemental Growth Capital Advance” is defined in Section 2.1.3(a). 

“Supplemental Growth Capital Conversion Date” is defined in Section 2.1.3(b). 

“Supplemental Growth Capital Final Payment” is a payment (in addition to and not a substitution for the
regular monthly payments of principal and accrued interest) due on the date set forth in Section 2.1.3(c) and 2.3(f) equal to Five Hundred Fifty Thousand Dollars ($550,000). 

“Supplemental Growth Capital Interest-Only Period” means the period commencing on the first (1st) calendar day of the month immediately following the month in which the Funding Date of the Supplemental Growth Capital Advance occurs and continuing through March 31, 2018. 

“Supplemental Growth Capital Loan Amount” is Eleven Million Dollars ($11,000,000). 

“Supplemental Growth Capital Make-Whole Premium” is, with respect to the Supplemental Growth Capital Advance,
an amount equal to (a) three percent (3.0%) of the outstanding principal amount of the Supplemental Growth Capital Advance made to Borrower under this Agreement if the prepayment is made before the first (1st) anniversary of the First Amendment Effective Date; (b) two percent (2.0%) of the outstanding principal amount of the Supplemental Growth Capital Advance made to Borrower under this Agreement
if the prepayment is made on or after the first (1st) anniversary of the First Amendment Effective Date but before the second (2nd) anniversary
of the First Amendment Effective Date; and (c) one percent (1.0%) of the 

  
 9 

 
outstanding principal amount of the Supplemental Growth Capital Advance made to Borrower under this Agreement if the prepayment is made on or after the second (2nd) anniversary of the First Amendment Effective Date and prior to the Supplemental Growth Capital Maturity Date. Notwithstanding the foregoing, no Supplemental Growth Capital Make-Whole Premium shall
be charged if (i) the Supplemental Growth Capital Advance is replaced with a new facility from Bank, (ii) the Supplemental Growth Capital Advance is refinanced and Bank has a participation interest in such refinanced loan facility, or
(iii) the Supplemental Growth Capital Advance is refinanced with a commercial bank syndicate which Bank has been offered to participate in such refinanced loan facility, but Bank has declined to purchase a participation interest in such
refinanced loan facility. 
 “Supplemental Growth Capital Maturity Date” is, for the Supplemental Growth
Capital Advance, the date on which the thirtieth (30th) Supplemental Growth Capital Payment is due with respect to the Supplemental Growth Capital Advance, but in no event later than
September 1, 2020. 
 “Supplemental Growth Capital Payment” is defined in Section 2.1.3(b).

 “Supplemental Growth Capital Repayment Period” as to the Supplemental Growth Capital Advance, is a period
of time equal to thirty (30) consecutive months commencing on the Supplemental Growth Capital Conversion Date. 
 2.11 Exhibit
D (Compliance Certificate). The Compliance Certificate is amended in its entirety and replaced with the Compliance Certificate in the form of Exhibit D attached hereto. From and after the date hereof, all references in
the Loan Agreement to the Compliance Certificate shall be deemed to refer to Exhibit D attached hereto. 
 2.12 Post-Closing
Conditions. Bank shall have received, in form and substance satisfactory to Bank, the following: 
 (a) within thirty (30) days
after the date on which Borrower enters into the Assignment of Administrative Services Agreement with One Medical Group of Washington, P.C., a Washington professional corporation, duly executed original signatures to a Collateral Assignment of
Administrative Services Agreement; 
 (b) within thirty (30) days after the First Amendment Effective Date, duly executed original
signatures to a Collateral Assignment of Administrative Services Agreement with One Medical Group, P.C., a Virginia professional corporation; 

(c) within thirty (30) days after the First Amendment Effective Date, duly executed original signatures to a Restated Collateral
Assignment of Administrative Services Agreement with each of One Medical Group of LA, Inc., a California corporation, One Medical of NY, P.C., a New York professional corporation, One Medical Labs, Inc., a California corporation, One Medical Group,
P.C., an Illinois professional corporation, One Medical Group, P.C., a Massachusetts professional corporation, and One Medical Group, P.C., a Washington, D.C. professional corporation; and 

  
 10 

 (d) within thirty (30) days after the First Amendment Effective Date, duly executed
original signatures to a Second Restated Collateral Assignment of Administrative Services Agreement with each of One Medical Group, Inc., a California professional corporation, and One Medical Group, P.C., a New York professional corporation. 

3. Limitation of Amendments. 

3.1 The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be limited precisely as
written and shall not be deemed to (a)be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may have in the future
under or in connection with any Loan Document. 
 3.2 This Amendment shall be construed in connection with and as part of the Loan
Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect. 

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

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

  
 11 

 4.6 The execution and delivery by Borrower of this Amendment and the performance by
Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or
public body or authority, or subdivision thereof, binding on Borrower, except as already has been obtained or made; and 
 4.7 This
Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization,
liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights. 

5. Integration. This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede
prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Amendment and the Loan Documents merge into this Amendment and the Loan
Documents. 
 6. Counterparts. This Amendment may be executed in any number of counterparts and all of such counterparts taken
together shall be deemed to constitute one and the same instrument. 
 7. Effectiveness. This Amendment shall be deemed
effective upon (a) the due execution and delivery to Bank of this Amendment by each party hereto and (b) payment of Bank’s legal fees and expenses in connection with the negotiation and preparation of this Amendment. 

[Signature page follows.] 

  
 12 

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

			
	BORROWER:
	
	1LIFE HEALTHCARE, INC.
		
	By:	 	 /s/ Garrick Bernstine

	Name: Garrick Bernstine
	Title: CFO
	
	BANK:
	
	SILICON VALLEY BANK
		
	By:	 	 /s/ Kristina Peralta

	Name: Kristina Peralta
	Title: Vice President

 [Signature Page to First Amendment to Second Amended and Restated Loan and Security Agreement] 

 EXHIBIT D 

COMPLIANCE CERTIFICATE 
  

									
	TO:	  	SILICON VALLEY BANK	 	    	 	Date:	 	  

	FROM:	  	1LIFE HEALTHCARE, INC.	 		 		 	

 The undersigned authorized officer of 1LIFE HEALTHCARE, INC. (“Borrower”) certifies that
under the terms and conditions of the Second Amended and Restated Loan and Security Agreement between Borrower and Bank, as amended by the First Amendment to Second Amended and Restated Loan and Security Agreement (as the same may be further
amended, modified, supplemented or restated from time to time, the “Agreement”): 
 (1) Borrower is in complete
compliance for the period ending _______________ with all required covenants except as noted below; (2) there are no Events of Default; (3) all representations and warranties in the Agreement are true and correct in all material respects
on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further
that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; (4) Borrower, and each of its Subsidiaries, has timely filed all required tax
returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except as otherwise permitted pursuant to the terms of Section 5.9 of the Agreement; and
(5) no Liens have been levied or claims made against Borrower or any of its Subsidiaries relating to unpaid employee payroll or benefits of which Borrower has not previously provided written notification to Bank. 

Attached are the required documents supporting the certification. The undersigned certifies that these are prepared in accordance with GAAP
consistently applied from one period to the next except as explained in an accompanying letter or footnotes (except for the absence of footnotes with respect to unaudited financial statements). The undersigned acknowledges that no borrowings may be
requested at any time or date of determination that Borrower is not in compliance with any of the terms of the Agreement, and that compliance is determined not just at the date this certificate is delivered. Capitalized terms used but not otherwise
defined herein shall have the meanings given them in the Agreement. 
 Please indicate compliance status by circling Yes/No under “Complies”
column. 
  

					
	 Reporting Covenant
	  	 Required
	  	 Complies

	Monthly financial statements with 
Compliance Certificate (“CC”)	  	Monthly within 45 days	  	Yes    No
			
	Annual financial statement (CPA Audited) + CC	  	FYE within 180 days	  	Yes    No
			
	Annual projections and operating plan	  	Within 30 days after the last day of each FYE, or more frequently (within ten (10) business days after approval) if updated by Borrower (following the initial annual delivery) and approved by the board of directors	  	Yes    No

  

							
	 Financial Covenants*
	  	Required	  	Actual	  	 Complies

	Maintain at all times, at least one to be tested as of the last day of each month:	  		  		  	
				
	 (a) Minimum Liquidity Ratio
	  	1.50:1.00	  	____:1.00	  	 Yes    No

				
	 (b) Minimum Fixed Charge Coverage Ratio
	  	1.25:1.00	  	____:1.00	  	 Yes    No

  

	*	 Borrower must maintain at least one of the two aforementioned financial covenants.

  
 Exhibit D 

 The following financial covenant analyses and information set forth in Schedule 1 attached hereto are true
and accurate as of the date of this Certificate. 
 Other Matters 
  

					
	Have there been any (i) material amendments of or other material changes to the capitalization table of Borrower, or (ii) any changes to the Operating Documents of Borrower or any of its Subsidiaries? If yes, provide
copies of any such amendments or changes with this Compliance Certificate.	  	Yes	  	No

 The following are the exceptions with respect to the certification above: (If no exceptions exist, state
“No exceptions to note.”) 

——————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
 
  

											
	1LIFE HEALTHCARE, INC.	  		  	BANK USE ONLY
				
		 		  		  	Received by:
                                        

		 		  		  	                        AUTHORIZED SIGNER
						
	By:	 	
                     
                                         
   
	  	    	  		 		  	
	Name:	 	  
	  		  	Date:
                                         
           
	Title:	 	  
	  		  	  

Verified:                        
                       

		 		  		  	                        AUTHORIZED SIGNER
		 		  		  	Date:
                                         
           
				
		 		  		  	Compliance Status:     Yes         No

  
 Exhibit D 

 Schedule 1 to Compliance Certificate 

Financial Covenants of Borrower 

In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. 

Dated: ____________________ 
 Borrower must calculate and
maintain at least one of the two financial covenants: 
  

	I.	 Liquidity Ratio (Section 6.9(a)) 

Required: 1.50:1.00. 
 Actual: 

 

					
	A.	  	Aggregate value of Borrower’s unrestricted cash and Cash Equivalents maintained at Bank and Bank’s Affiliates	  	$_____
			
	B.	  	65% of the aggregate value of net accounts receivable	  	$_____
			
	C.	  	Quick Assets (line A plus B)	  	$_____
			
	D.	  	Aggregate outstanding principal balance under the Supplemental Growth Capital Advances	  	$_____
			
	E.	  	Liquidity Ratio (line C, divided by line D)	  	____:1.00

 Is line E equal to or greater than the amount required above? 

 

			
	                  No, not in
compliance
	  	                 Yes, in compliance

  

	II.	 Fixed Charge Coverage Ratio (Section 6.9(b)) 

Required: 1.25:1.00. 
 Actual: 

 

					
	A.	  	The net profit (or loss), after provision for taxes, of Borrower and its Subsidiaries for the trailing 12 months	  	$_____
			
	B.	  	Interest expense for the trailing 12 months	  	$_____
			
	C.	  	To the extent deducted in the calculation of line A, depreciation expense for the trailing 12 months	  	$_____
			
	D.	  	To the extent deducted in the calculation of line A, amortization expense for the trailing 12 months	  	$_____
			
	E.	  	Income tax expense for the trailing 12 months	  	$_____
			
	F.	  	Non-cash stock compensation for the trailing 12 months	  	$_____

  
 Exhibit D 

					
	G.	  	EBITDA (the sum of lines A through F)	  	$_____
			
	H.	  	Unfunded capital expenditures of Borrower for the trailing 12 months	  	$_____
			
	I.	  	Cash taxes paid by Borrower for the trailing 12 months	  	$_____
			
	J.	  	Cash dividends paid by Borrower for the trailing 12 months	  	$_____
			
	K.	  	Adjusted EBITDA (line G minus lines H through J)	  	$_____
			
	L.	  	Fees, principal, and interest of Obligations of Borrower in connection with the Supplemental Growth Capital Advances and the Indebtedness of Borrower in connection with the capital leases, all due within the next 12 months	  	$_____
			
	M.	  	Fixed Charge Coverage Ratio (line K divided by line L)	  	____:1.00

 Is line M equal to or greater than the amount required above? 

 

													
	    	  	  
	  	No, not in compliance	  		  	  
	  	Yes, in compliance	  	    

  
 Exhibit D 

 SECOND AMENDMENT TO 

SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

THIS SECOND AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into this 12th day of January, 2017, but effective as of January 17, 2017, by and between SILICON VALLEY BANK, a California corporation (“Bank”), and 1LIFE HEALTHCARE, INC., a
Delaware corporation (“Borrower”). 
 RECITALS 

A. Bank and Borrower have entered into that certain Second Amended and Restated Loan and Security Agreement dated as of January 26, 2015,
as amended by that certain First Amendment to Amended and Restated Loan and Security Agreement dated as of October 18, 2016 (the “First Amendment”) by and between Bank and Borrower (as the same may from time to time be further
amended, modified, supplemented or restated, the “Loan Agreement”). 
 B. Bank has extended credit to Borrower for the
purposes permitted in the Loan Agreement. 
 C. Borrower has requested that Bank amend the Loan Agreement to (i) waive the requirement
that Borrower pay a Supplemental Growth Capital Final Payment when due pursuant to the terms and conditions of the First Amendment, and it its place, (x) require Borrower to pay a modification fee in the amount of Thirty-Three Thousand Seven
Hundred Ninety-Five and 61/100 Dollars ($33,795.61) on the date of this Amendment pursuant to the terms of Section 7 below (the “Supplemental Growth Capital Modification Fee”), (y) increase the amount of the existing
Supplemental Growth Capital Make-Whole Premium, and (z) increase the interest rate of the Supplemental Growth Capital Advance; and (ii) make certain other revisions to the Loan Agreement as more fully set forth herein. 

D. Bank has agreed to (i) waive the requirement that Borrower pay a Supplemental Growth Capital Final Payment when due pursuant to the
terms and conditions of the First Amendment, and in its place, (x) require Borrower to pay the Supplemental Growth Capital Modification Fee on the date of this Amendment, (y) increase the amount of the existing Supplemental Growth Capital
Make-Whole Premium, and (z) increase the interest rate of the Supplemental Growth Capital Advance; and (ii) make certain other revisions to the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions
and in reliance upon the representations and warranties set forth below. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals and other good and
valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 

1. Definitions. Capitalized terms used but not defined in this Amendment, including its preamble and recitals, shall have the meanings
given to them in the Loan Agreement. 
  

 2. Amendments to Loan Agreement. 

2.1 Section 2.1.3 (Supplemental Growth Capital Advance). Sections 2.1.3(c), (d) and (e) of the Loan Agreement are hereby
amended in their entirety and replaced with the following: 
 (c) [Reserved]. 

(d) Mandatory Prepayment Upon an Acceleration. If the Supplemental Growth Capital Advance is accelerated following the
occurrence and during the continuance of an Event of Default, Borrower shall immediately pay to Bank, an amount equal to the sum of (i) accrued and unpaid interest with respect to the Supplemental Growth Capital Advance, plus (ii) all
outstanding principal with respect to the Supplemental Growth Capital Advance, plus (iii) [Intentionally Omitted], plus (iv) the Supplemental Growth Capital Make-Whole Premium, plus (v) all other sums, including Bank Expenses, if any, that
have become due and payable hereunder with respect to the Supplemental Growth Capital Growth Capital Advance, including interest at the Default Rate with respect to any past due amounts. 

(e) Voluntary Prepayment. At Borrower’s option, so long as an Event of Default has not occurred and is not
continuing, Borrower shall have the option to prepay all, but not less than all, of the outstanding Supplemental Growth Capital Advance, provided Borrower (i) delivers written notice to Bank of its election to exercise its option to prepay the
Supplemental Growth Capital Advance at least ten (10) days prior to such prepayment, and (ii) pays, on the date of such prepayment (A) all accrued and unpaid interest with respect to the Supplemental Growth Capital Advance,
(B) all unpaid principal with respect to the Supplemental Growth Capital Advance, (C) [Intentionally Omitted], (D) the applicable Supplemental Growth Capital Make-Whole Premium, and (E) all other sums, including Bank Expenses, if any, that
shall have become due and payable hereunder with respect to the Supplemental Growth Capital Advance, including interest at the Default Rate with respect to any past due amounts. 

2.2 Section 2.2(a) (Interest Rate). Section 2.2(a) of the Loan Agreement is hereby amended by deleting
the last sentence of such Section in its entirety and replacing it with the following: 
 Subject to Section 2.2(b), the principal
amount outstanding for the Supplemental Growth Capital Advance shall accrue interest at a floating per annum rate equal to the greater of (A) the Prime Rate plus 1.81% or (B) 5.56%, which interest shall be payable monthly. 

2.3 Section 2.3(f) (Supplemental Growth Capital Final Payment). Section 2.3(f) of the Loan Agreement is
hereby amended by deleting it in its entirety and replacing it with the following: 
 (f) [Reserved.]; and 

  
 2 

 2.4 Section 13 (Definitions). 

(a) The definition of the term “Supplemental Growth Capital Make-Whole Premium” as set forth in Section 13.1 of the Loan
Agreement is hereby amended in its entirety and replaced with the following: 
 “Supplemental Growth Capital
Make-Whole Premium” is, with respect to the Supplemental Growth Capital Advance, an amount equal to (1) Five Hundred Sixteen Thousand Two Hundred Four and 39/100 Dollars ($516,204.39), plus (2) (a) three percent (3.0%) of the
outstanding principal amount of the Supplemental Growth Capital Advance made to Borrower under this Agreement if the prepayment is made before the first (1st) anniversary of the First Amendment
Effective Date; (b) two percent (2.0%) of the outstanding principal amount of the Supplemental Growth Capital Advance made to Borrower under this Agreement if the prepayment is made on or after the first (1st) anniversary of the First Amendment Effective Date but before the second (2nd) anniversary of the First Amendment Effective Date; and
(c) one percent (1.0%) of the outstanding principal amount of the Supplemental Growth Capital Advance made to Borrower under this Agreement if the prepayment is made on or after the second
(2nd) anniversary of the First Amendment Effective Date and prior to the Supplemental Growth Capital Maturity Date. Notwithstanding the foregoing, no Supplemental Growth Capital Make-Whole Premium
shall be charged if (i) the Supplemental Growth Capital Advance is replaced with a new facility from Bank, (ii) the Supplemental Growth Capital Advance is refinanced and Bank has a participation interest in such refinanced loan facility,
or (iii) the Supplemental Growth Capital Advance is refinanced with a commercial bank syndicate which Bank has been offered to participate in such refinanced loan facility, but Bank has declined to purchase a participation interest in such
refinanced loan facility. 
 (b) The defined term “Supplemental Growth Capital Final Payment” and its definition as set
forth in Section 13.1 of the Loan Agreement are hereby deleted in their entirety and all occurrences of and references to such term in the Loan Agreement are hereby deleted in their entirety and from and after the date hereof shall be of no
further force and effect under the Loan Agreement. 
 3. Limitation of Amendments. 

3.1 The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be limited precisely as
written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may have in the
future under or in connection with any Loan Document. 
 3.2 This Amendment shall be construed in connection with and as part of the
Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect. 

  
 3 

 4. Representations and Warranties. To induce Bank to enter into this Amendment,
Borrower hereby represents and warrants to Bank as follows: 
 4.1 Immediately after giving effect to this Amendment (a) the
representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are
true and correct as of such date), and (b) no Event of Default has occurred and is continuing; 
 4.2 Borrower has the power and
authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment; 

4.3 The organizational documents of Borrower delivered to Bank on the October 18, 2016 remain true, accurate and complete and have
not been amended, supplemented or restated and are and continue to be in full force and effect; 
 4.4 The execution and delivery by
Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, have been duly authorized; 

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

4.6 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision
thereof, binding on Borrower, except as already has been obtained or made; and 
 4.7 This Amendment has been duly executed and
delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other
similar laws of general application and equitable principles relating to or affecting creditors’ rights. 
 5. Integration. This
Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about
the subject matter of this Amendment and the Loan Documents merge into this Amendment and the Loan Documents. 

  
 4 

 6. Counterparts. This Amendment may be executed in any number of counterparts and all
of such counterparts taken together shall be deemed to constitute one and the same instrument. 
 7. Effectiveness. This Amendment
shall be deemed effective as of January 17, 2017, upon (a) the due execution and delivery to Bank of this Amendment by each party hereto; (b) the due execution and delivery to Bank of the Collateral Assignment of Administrative
Services Agreement with each of (i) One Medical Group of Washington, P.C., a Washington professional corporation, and (ii) One Medical Group, P.C., a Virginia professional corporation; (c) the due execution and delivery to Bank of the
Restated Collateral Assignment of Administrative Services Agreement with each of (i) One Medical of NY, P.C., a New York professional corporation, (ii) One Medical Labs, Inc., a California corporation, (iii) One Medical Group, P.C.,
an Illinois professional corporation, (iv) One Medical Group, P.C., a Massachusetts professional corporation, and (v) One Medical Group, P.C., a Washington, D.C. professional corporation; (d) the due execution and delivery to Bank of
the Second Restated Collateral Assignment of Administrative Services Agreement with each of (i) One Medical Group, Inc., a California professional corporation, and (ii) One Medical Group, P.C., a New York professional corporation;
(e) Borrower’s payment of the Supplemental Growth Capital Modification Fee in an amount equal to Thirty-Three Thousand Seven Hundred Ninety-Five and 61/100 Dollars ($33,795.61); and (f) payment of Bank’s legal fees and expenses
in connection with the negotiation and preparation of this Amendment. 
 [Signature page follows.] 

  
 5 

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

			
	BORROWER:
	
	1LIFE HEALTHCARE, INC.
		
	By:	 	 /s/ Garrick Bernstein

	Name:	 	Garrick Bernstein
	Title:	 	CFO
	
	BANK:
	
	SILICON VALLEY BANK
		
	By:	 	 /s/ Kristina Peralta

	Name:	 	Kristina Peralta
	Title:	 	Vice President

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

 THIRD AMENDMENT TO 

SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

THIS THIRD AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered
into on April 29, 2019, by and between SILICON VALLEY BANK, a California corporation (“Bank”), and 1LIFE HEALTHCARE, INC., a Delaware corporation (“Borrower”). 

RECITALS 

A. Bank and Borrower have entered into that certain Second Amended and Restated Loan and Security Agreement dated as of January 26, 2015
(as the same may from time to time be amended, modified, supplemented or restated, the “Loan Agreement”). 
 B. Bank has
extended credit to Borrower for the purposes permitted in the Loan Agreement. 
 C. Borrower has requested that Bank amend the Loan Agreement
to (i) modify the banking requirements set forth in Section 6.6, and (ii) make certain other revisions to the Loan Agreement as more fully set forth herein. 

D. Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the
conditions and in reliance upon the representations and warranties set forth below. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals and other good and
valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 

1. Definitions. Capitalized terms used but not defined in this Amendment, including its preamble and recitals, shall have the
meanings given to them in the Loan Agreement. 
 2. Amendments to Loan Agreement. 

2.1 Section 6.6 (Operating Accounts). Section 6.6 of the Loan Agreement is hereby amended in its entirety and replaced with
the following: 
 (a) Maintain its (i) primary investment management accounts with Bank and Bank’s Affiliates and
(ii) business credit cards with Bank and Bank’s Affiliates, provided that if Bank determines in its sole and absolute discretion that it cannot provide such business credit cards to Borrower on competitive terms compared to other
third-party business credit cards for companies similar to Borrower under current market conditions, then subject to Bank’s prior written consent in its sole and absolute discretion, Borrower may use business credit cards issued by
third-parties other than Bank and Bank’s Affiliates expressly subject to clause (j) of the definition of Permitted Indebtedness. Notwithstanding the foregoing, Borrower may maintain the merchant accounts with PayPal, Stripe, 

 WorldPay, Patient Pay/Clearant and Pivitol (or any replacement payment provider disclosed in
the Perfection Certificate) (collectively, the “Payment Transmitter Accounts”), provided that Borrower sweeps the funds in the Payment Transmitter Accounts to Borrower’s operating account on a monthly basis. 

(b) In addition to and subject to the restrictions in clause (a) of this Section 6.6, Borrower shall provide Bank
five (5) days prior written notice before establishing any Collateral Account at or with any bank or financial institution other than Bank or Bank’s Affiliates. For each Collateral Account that Borrower at any time maintains pursuant to
the terms and conditions herein, Borrower shall cause the applicable bank or financial institution (other than Bank) at or with which any Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument
with respect to such Collateral Account to perfect Bank’s Lien in such Collateral Account in accordance with the terms hereunder which Control Agreement may not be terminated without the prior written consent of Bank. The provisions of the
previous sentence shall not apply to (i) deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such,
(ii) Borrower’s accounts with the Payment Transmitter Accounts so long as Borrower sweeps the funds in the Payment Transmitter Accounts to Borrower’s operating account on a monthly basis, and (iii) zero balance accounts that are
swept each Business Day to a concentration account in the name of Borrower at any bank or financial institution other than Bank and Bank’s Affiliates (collectively, the “ZBA/Concentration Accounts”); provided, however, in the
event that Borrower fails to maintain at least Thirty-Five Million Dollars ($35,000,000) in cash and/or investments in investment management accounts with Bank and Bank’s Affiliates at any time, then Borrower shall take all steps requested by
Bank in its sole and absolute discretion to execute and deliver a Control Agreement or other appropriate instrument with respect to each of the ZBA/Concentration Accounts to perfect Bank’s first priority Lien in such ZBA/Concentration Accounts.

 2.2 Section 13 (Definitions). 

(a) The definition of “Permitted Indebtedness” as set forth in Section 13.1 of the Loan Agreement is
hereby amended by adding the following subsections immediately after subsection (i) as subsections (j) and (k): 

(j) solely on the condition that (x) Bank has determined in its sole and absolute discretion that it cannot provide
business credit cards to Borrower on competitive terms compared to other third-party business credit cards for companies similar to Borrower under current market conditions, and (y) Bank has provided prior written consent in Bank’s sole
and absolute discretion that Borrower can use business credit cards issued by third-parties other than Bank and Bank’s Affiliates, unsecured Indebtedness of Borrower arising from business credit cards which are not issued by Bank or Bank’s
Affiliates not exceeding Seven Hundred Fifty Thousand Dollars ($750,000) in the aggregate outstanding at any time; and 

  
 2 

 (k) Indebtedness not exceeding Two Hundred Thousand Dollars ($200,000) owed
to ASD Specialty Healthcare, LLC (“ASD”) pursuant to that certain Customer Application dated December 3, 2018 by and between Borrower and ASD, as modified by that certain Modification to Customer Application dated
April 22, 2019. 
 (b) The definition of “Permitted Liens” as set forth in Section 13.1 of the Loan Agreement is
hereby amended by adding the following subsection immediately after subsection (k) as subsection (1): 
 (1) Liens on
inventory purchased from ASD, and all proceeds directly related thereto, to the extent such collateral would be considered a purchase money security interest as defined by the Code. 

3. Limitation of Amendments. 

3.1 The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be limited precisely as
written and shall not be deemed to (a)be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may have in the future
under or in connection with any Loan Document. 
 3.2 This Amendment shall be construed in connection with and as part of the Loan
Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect. 

4. Representations and Warranties. To induce Bank to enter into this Amendment, Borrower hereby represents and warrants to Bank as
follows: 
 4.1 Immediately after giving effect to this Amendment (a) the representations and warranties contained in the
Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and
(b) no Event of Default has occurred and is continuing; 
 4.2 Borrower has the power and authority to execute and deliver this
Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment; 
 4.3 The organizational documents
of Borrower delivered to Bank on December 5, 2018 remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect; 

4.4 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, have been duly authorized; 

  
 3 

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

4.6 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision
thereof, binding on Borrower, except as already has been obtained or made; and 
 4.7 This Amendment has been duly executed and
delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other
similar laws of general application and equitable principles relating to or affecting creditors’ rights. 
 5.
Integration. This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations
between the parties about the subject matter of this Amendment and the Loan Documents merge into this Amendment and the Loan Documents. 

6. Counterparts. This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall
be deemed to constitute one and the same instrument. 
 7. Effectiveness. This Amendment shall be deemed effective upon
(a) the due execution and delivery to Bank of this Amendment by each party hereto and (b) payment of Bank’s legal fees and expenses in connection with the negotiation and preparation of this Amendment. 

[Signature page follows.] 

  
 4 

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

1LIFE HEALTHCARE, INC. 
  

			
	By:	 	 /s/ Robin Riske

	Name:	 	Robin Riske
	Title:	 	Treasurer, VP Finance & Corporate Controller
		
	BANK:	 	
	
	SILICON VALLEY BANK
		
	By:	 	 /s/ Peter Sletteland

	Name:	 	Peter Sletteland
	Title:	 	Vice President

 [Signature Page to Third Amendment to Second Amended and Restated Loan and Security Agreement]EX-10.1

 Exhibit 10.1 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY
CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED. 
 LOAN AND SECURITY AGREEMENT 

THIS LOAN AND SECURITY AGREEMENT is made and dated as of December 31, 2019 and is entered into by and among KALEIDO BIOSCIENCES, INC., a
Delaware corporation, and each of its Qualified Subsidiaries (including Cadena Bio, Inc., a Delaware corporation) (hereinafter collectively referred to as the “Borrower”), the several banks and other financial institutions or entities from
time to time parties to this Agreement (collectively, referred to as the “Lenders”) and HERCULES CAPITAL, INC., a Maryland corporation, in its capacity as administrative agent and collateral agent for itself and the Lenders (in such
capacity, the “Agent”). 
 RECITALS 

A. Borrower has requested the Lenders make available to Borrower a loan in an aggregate principal amount of up to Thirty-Five Million Dollars
($35,000,000.00) (the “Term Loan”); and 
 B. The Lenders are willing to make the Term Loan on the terms and conditions set forth
in this Agreement. 
 AGREEMENT 

NOW, THEREFORE, Borrower, Agent and the Lenders agree as follows: 

SECTION 1. DEFINITIONS AND RULES OF CONSTRUCTION 

1.1 Unless otherwise defined herein, the following capitalized terms shall have the following meanings: 

“Account Control Agreement(s)” means any agreement entered into by and among the Agent, Borrower and a third party bank or other
institution (including a Securities Intermediary) in which Borrower maintains a Deposit Account or an account holding Investment Property and which perfects Agent’s first priority security interest in the subject account or accounts. 

“ACH Authorization” means the ACH Debit Authorization Agreement in substantially the form of Exhibit G, which account numbers shall
be redacted for security purposes if and when filed publicly by the Borrower. 
 “Advance(s)” means a Term Loan Advance. 

“Advance Date” means the funding date of any Advance. 

“Advance Request” means a request for an Advance submitted by Borrower to Agent in substantially the form of Exhibit A, which
account numbers shall be redacted for security purposes if and when filed publicly by the Borrower. 

 “Affiliate” means (a) any Person that directly or indirectly controls, is
controlled by, or is under common control with the Person in question, (b) any Person directly or indirectly owning, controlling or holding with power to vote ten percent (10%) or more of the outstanding voting securities of another Person,
(c) any Person ten percent (10%) or more of whose outstanding voting securities are directly or indirectly owned, controlled or held by another Person with power to vote such securities, or (d) any Person related by blood or marriage to
any Person described in subsection (a), (b) or (c) of this paragraph. As used in the definition of “Affiliate,” the term “control” means the possession, directly or indirectly, of the power to direct or cause the direction
of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 

“Agreement” means this Loan and Security Agreement, as amended from time to time. 

“Amortization Date” means May 1, 2021; provided however, if the First Interest Only Extension Conditions are satisfied, then
August 1, 2021; provided further, if the Second Interest Only Extension Conditions are satisfied, then February 1, 2022. 

“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to Borrower or any of its Affiliates
from time to time concerning or relating to bribery or corruption, including without limitation the United States Foreign Corrupt Practices Act of 1977, as amended, the UK Bribery Act 2010 and other similar legislation in any other jurisdictions.

 “Anti-Terrorism Laws” means any laws, rules, regulations or orders relating to
terrorism or money laundering, including without limitation Executive Order No. 13224 (effective September 24, 2001), the USA PATRIOT Act, the laws comprising or implementing the Bank Secrecy Act, and the laws administered by OFAC. 

“Blocked Person” means any Person: (a) listed in the annex to, or is otherwise subject to the provisions of, Executive Order
No. 13224, (b) a Person owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224, (c) a Person with which any Lender is
prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law, (d) a Person that commits, threatens or conspires to commit or supports “terrorism” as defined in Executive Order No. 13224, or
(e) a Person that is named a “specially designated national” or “blocked person” on the most current list published by OFAC or other similar list. 

“Borrower Products” means all products, software, service offerings, technical data or technology currently being designed,
manufactured or sold by Borrower or which Borrower intends to sell, license, or distribute in the future including any products or service offerings under development, collectively, together with all products, software, service offerings, technical
data or technology that have been sold, licensed or distributed by Borrower since its incorporation. 
 “Borrower’s Books”
means Borrower’s or any of its Subsidiaries’ books and records including ledgers, federal, state, local and foreign tax returns, records regarding Borrower’s or its Subsidiaries’ assets or liabilities, the Collateral, business
operations or financial condition, and all computer programs or storage or any equipment containing such information. 

“Borrower’s Market Capitalization” means, for any given date of determination, an amount equal to (a) the average of the
daily volume weighted average price of common stock as reported for each of the three (3) trading days preceding such date of determination (it being understood that a “trading day” shall mean a day on which shares of common stock
trade on the NASDAQ in an ordinary trading session) multiplied by (b) the total number of issued and outstanding shares of common stock that are issued and outstanding on the date of the determination and listed on the NASDAQ (or, if the
primary listing of such common stock is on another exchange, on such other exchange). Such determination shall be appropriately adjusted for any stock dividend, stock split, stock combination, reclassification or other similar transaction during the
applicable calculation period. 

  
 2 

 “Business Day” means any day other than Saturday, Sunday and any other day on
which banking institutions in the State of California are closed for business. 
 “Cash” means all cash, cash equivalents and
liquid funds. 
 “CFC” means a “controlled foreign corporation” as defined in Section 957 of the Code. 

“CFC Holdco” means a direct or indirect Subsidiary of the Borrower substantially all of the assets of which are Equity Interests (or
Equity Interests and debt interests) in one or more CFCs. 
 “Change in Control” means any reorganization, recapitalization,
consolidation or merger (or similar transaction or series of related transactions) of Borrower, sale or exchange of outstanding shares (or similar transaction or series of related transactions) of Borrower in which the holders of Borrower’s
outstanding shares immediately before consummation of such transaction or series of related transactions do not, immediately after consummation of such transaction or series of related transactions, retain shares representing more than fifty percent
(50%) of the voting power of the surviving entity of such transaction or series of related transactions (or the parent of such surviving entity if such surviving entity is wholly owned by such parent), in each case without regard to whether Borrower
is the surviving entity; provided, however, that an initial public offering shall not constitute a Change in Control. 
 “Closing
Date” means the date of this Agreement. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Contingent Obligation” means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person
with respect to (i) any Indebtedness, lease, dividend, letter of credit or other obligation of another, including any such obligation directly or indirectly guaranteed, endorsed, co-made or discounted or
sold with recourse by that Person, or in respect of which that Person is otherwise directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit, corporate credit cards or merchant services issued for the account
of that Person; and (iii) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or other agreement or arrangement designated to protect a Person
against fluctuation in interest rates, currency exchange rates or commodity prices; provided, however, that the term “Contingent Obligation” shall not include endorsements for collection or deposit in the ordinary course of business. The
amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably
anticipated liability in respect thereof as determined by such Person in good faith; provided, however, that such amount shall not in any event exceed the maximum amount of the obligations under the guarantee or other support arrangement. 

“Copyright License” means any written agreement granting any right to use any Copyright or Copyright registration, now owned or
hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 
 “Copyrights” means all
copyrights, whether registered or unregistered, held pursuant to the laws of the United States of America, any State thereof, or of any other country. 

“Deposit Accounts” means any “deposit accounts,” as such term is defined in the UCC, and includes any checking account,
savings account, or certificate of deposit that is not evidenced by an instrument. 

  
 3 

 “Designated Account” means the account number ending 759 (last three digits),
maintained by Borrower with JPMorgan Chase Bank, N.A., or any other account that Borrower designates from time to time to Agent in writing with reasonable notice. 

“Domestic Subsidiary” means any Subsidiary organized under the laws of the United States of America, any State thereof, the District
of Columbia, or any other jurisdiction within the United States of America. 
 “Due Diligence Fee” means $20,000, which fee has
been paid to the Lenders prior to the Closing Date, and shall be deemed fully earned on such date regardless of the early termination of this Agreement. 

“Eligible Foreign Subsidiary” means each Foreign Subsidiary other than an Excluded Subsidiary. 

“Equity Interests” means, with respect to any Person, the capital stock, partnership or limited liability company interest, or other
equity securities or equity ownership interests of such Person. 
 “ERISA” means the Employee Retirement Income Security Act of
1974, as amended, and the regulations promulgated thereunder. 
 “Excluded Subsidiary” means (x) each direct and indirect
Subsidiary of the Borrower (a) that is a CFC, (b) that is a direct or indirect Subsidiary of a CFC, or (c) that is a CFC Holdco; in each case, provided that (i) the pledge of all or substantially all of the Equity Interests of
such Subsidiary as Collateral, (ii) the guarantee by such Subsidiary of the Secured Obligations, or (iii) the execution of a Joinder Agreement by such Subsidiary, would result in material adverse tax consequences to the Borrower (as
reasonably determined by the Borrower and Agent) and (y) the MSC Subsidiary. 
 “First Interest Only Extension Conditions”
shall mean satisfaction of each of the following events: (a) no default or Event of Default shall have occurred; and (b) on or before June 30, 2020, Borrower achieves Performance Milestone I, subject to verification by Agent
(including supporting documentation requested by Agent). 
 “Foreign Subsidiary” means any Subsidiary other than a Domestic
Subsidiary. 
 “GAAP” means generally accepted accounting principles in the United States of America, as in effect from time to
time. 
 “Indebtedness” means indebtedness of any kind, including (a) all indebtedness for borrowed money or the deferred
purchase price of property or services (excluding trade credit entered into in the ordinary course of business due within ninety (90) days), including reimbursement and other obligations with respect to surety bonds and letters of credit,
(b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all capital lease obligations, (d) non-contingent obligations to reimburse any bank or Person in respect of
amounts paid under a letter of credit, banker’s acceptance or similar instrument, (e) equity securities of any Person subject to repurchase or redemption other than at the sole option of such Person, other than any such equity securities
that are subject to repurchase or redemption solely after the 91st day after the Term Loan Maturity Date, (f) earn outs, purchase price adjustments, deferred purchase amounts and similar payment obligations or any nature arising out of purchase
and sale contracts, and (g) all Contingent Obligations. 

  
 4 

 “Initial Facility Charge” means One Hundred Thirty-Seven Thousand Five Hundred
Dollars ($137,500), which is payable to the Lenders in accordance with Section 4.1(f). 
 “Insolvency Proceeding” means any
proceeding by or against any Person under the United States Bankruptcy Code, or any other bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking
reorganization, arrangement, or other similar relief. 
 “Intellectual Property” means all of Borrower’s Copyrights;
Trademarks; Patents; Licenses; trade secrets and inventions; mask works; Borrower’s applications therefor and reissues, extensions, or renewals thereof; and Borrower’s goodwill associated with any of the foregoing, together with
Borrower’s rights to sue for past, present and future infringement of Intellectual Property and the goodwill associated therewith. 

“Investment” means any beneficial ownership (including stock, partnership, limited liability company interests, or other securities)
of or in any Person, or any loan, advance or capital contribution to any Person or the acquisition of any material asset or property of another Person. 

“IRS” means the United States Internal Revenue Service. 

“Joinder Agreements” means for each Subsidiary (other than an Excluded Subsidiary), a completed and executed Joinder Agreement in
substantially the form attached hereto as Exhibit F. 
 “License” means any Copyright License, Patent License, Trademark License
or other license of rights or interests. 
 “Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment for
security, security interest, encumbrance, levy, lien or charge of any kind, whether voluntarily incurred or arising by operation of law or otherwise, against any property, any conditional sale or other title retention agreement, and any lease in the
nature of a security interest. 
 “Loan” means the Advances made under this Agreement. 

“Loan Documents” means this Agreement, the promissory notes (if any), the ACH Authorization, the Account Control Agreements, the
Joinder Agreements, all UCC Financing Statements, the Pledge Agreement, and any other documents executed in connection with the Secured Obligations or the transactions contemplated hereby, as the same may from time to time be amended, modified,
supplemented or restated. 
 “Material Adverse Effect” means a material adverse effect upon: (i) the business, operations,
properties, assets or financial condition of Borrower and its Subsidiaries taken as a whole; or (ii) the ability of Borrower to perform or pay the Secured Obligations in accordance with the terms of the Loan Documents, or the ability of Agent
or the Lenders to enforce any of its rights or remedies with respect to the Secured Obligations; or (iii) the Collateral or Agent’s Liens on the Collateral or the priority of such Liens (other than as a result of a failure by the Agent to
make any necessary filings or maintain possession of any possessory collateral). 
 “Maximum Term Loan Amount” means Thirty-Five
Million and No/100 Dollars ($35,000,000.00). 

  
 5 

 “MSC Investment Conditions” means that Borrower maintains Qualified Cash in an
amount equal to or greater than the lesser of (i) 110% of the aggregate outstanding Secured Obligations (inclusive of any Prepayment Charge and End of Term Charge that would be due and owing if the outstanding Loans were prepaid at the time of
measurement) plus the Qualified Cash A/P Amount or (ii) 100% of the consolidated Cash of Borrower and its Subsidiaries, unless compliance with the foregoing conditions are waived in writing from time to time by Agent with respect to specified
periods, in Agent’s sole discretion. 
 “MSC Subsidiary” means Kaleido Biosciences Securities Corporation, a wholly-owned
Subsidiary incorporated in the Commonwealth of Massachusetts or the State of Delaware for the purpose of holding Investments as a Massachusetts security corporation under 830 CMR 63.38B.1 of the Massachusetts tax code and applicable regulations (as
the same may be amended, modified or replaced from time to time). 
 “Non-Core Intellectual
Property” means microbiome metabolic therapy candidates that do not target, directly, indirectly, entirely or partially, any of the following indications: urea cycle disorders, hepatic encephalopathy, multi drug resistant infection, chronic
kidney disease, atherosclerotic cardiovascular disease, cardio-metabolic syndrome, immuno-oncology or any indication related to the existing KB195, KB174 or KB109 programs, and in each case any related programs or related Intellectual Property in
connection with such indications. 
 “Non-Consenting Lender” means any Lender that does
not approve any consent, waiver or amendment that (a) requires the approval of all or all affected Lenders in accordance with the terms of Section 11.3 and (b) has been approved by the Required Lenders. 

“Non-Disclosure Agreement” means that certain
Non-Disclosure Agreement by and between Kaleido Biosciences, Inc. and Hercules Capital, Inc. dated as of October 2, 2019. 

“OFAC” is the U.S. Department of Treasury Office of Foreign Assets Control. 

“OFAC Lists” are, collectively, the Specially Designated Nationals and Blocked Persons List maintained by OFAC pursuant to Executive
Order No. 13224, 66 Fed. Reg. 49079 (Sept. 25, 2001) and/or any other list of terrorists or other restricted Persons maintained pursuant to any of the rules and regulations of OFAC or pursuant to any other applicable Executive Orders. 

“Patent License” means any written agreement granting any right with respect to any invention on which a Patent is in existence or a
Patent application is pending, in which agreement Borrower now holds or hereafter acquires any interest. 
 “Patents” means all
letters patent of, or rights corresponding thereto, in the United States of America or in any other country, all registrations and recordings thereof, and all applications for letters patent of, or rights corresponding thereto, in the United States
of America or any other country. 
 “Performance Milestone I” means satisfaction of each of the following events: 

(a) [***] 

(b) [***] 

(i) [***] 

  
 6 

 (ii) [***] 

(x) [***] 

(y) [***] 

(iii) [***] 

“Performance Milestone II” means satisfaction of each of the following events: 

(a) [***] 

(b) [***] 

(c) [***] 

“Permitted In-Licenses” means (a) any License with respect to which Borrower is the
licensee, in which: (i) Borrower and its Subsidiaries are not reasonably likely to be required to transfer cash or other consideration, prior to the Term Loan Maturity Date, assets or property valued (book or market) at more than $1,000,000 in
the aggregate for all such Licenses and (ii) is not a Restricted License. 
 “Permitted Indebtedness” means: 

(i) Indebtedness of Borrower in favor of the Lenders or Agent arising under this Agreement or any other Loan Document; 

(ii) Indebtedness existing on the Closing Date which is disclosed in Schedule 1A; 

(iii) Indebtedness of up to $250,000 outstanding at any time secured by a Lien described in clause (vii) of the defined
term “Permitted Liens,” provided such Indebtedness does not exceed the cost of the Equipment financed with such Indebtedness; 

(iv) without duplication of any other item of Permitted Indebtedness, Indebtedness to trade creditors incurred in the ordinary
course of business (due within 90 days), including such Indebtedness incurred in the ordinary course of business with corporate credit cards in an amount to not exceed $500,000 outstanding at any time; 

(v) Indebtedness that also constitutes a Permitted Investment; 

(vi) Subordinated Indebtedness; 

(vii) without duplication of any other item of Permitted Indebtedness, reimbursement obligations in connection with letters of
credit that are secured by Cash and issued on behalf of the Borrower or a Subsidiary thereof in an amount not to exceed $2,500,000 at any time outstanding, 

(viii) other unsecured Indebtedness in an amount not to exceed $250,000 at any time outstanding, 

(ix) intercompany Indebtedness as long as either (A) each of the Subsidiary obligor and the Subsidiary obligee under such
Indebtedness is a Borrower or Domestic Subsidiary that has executed a Joinder Agreement or (B) each of the obligor and obligee are Foreign Subsidiaries; 

  
 7 

 (x) Indebtedness consisting of interest rate, currency, or commodity swap
agreements, interest rate cap or collar agreements or arrangements entered into in the ordinary course of business and designated to protect Borrower or its Subsidiaries against fluctuations in interest rates, currency exchange rates, or commodity
prices as long as the aggregate outstanding nominal value outstanding of such Indebtedness does not exceed $500,000; 
 (xi)
Indebtedness consisting of financing of insurance premiums in the ordinary course of business; 
 (xii) to the extent
constituting Indebtedness obligations, Indebtedness in respect of netting services or overdraft protection or otherwise in connection with deposit or securities accounts in the ordinary course of business; and 

(xiii) extensions, refinancings and renewals of any items of Permitted Indebtedness, provided that the principal amount is not
increased or the terms modified to impose materially more burdensome terms upon Borrower or its Subsidiary, as the case may be. 

“Permitted Investment” means: 

(i) Investments existing on the Closing Date which are disclosed in Schedule 1B; 

(ii) short-term, customary, non-speculative money market securities pursuant to
Borrower’s investment policy provided to Agent on the Closing Date; 
 (iii) (a) marketable direct obligations issued or
unconditionally guaranteed by the United States of America or any agency or any State thereof maturing within one year from the date of acquisition thereof currently having a rating of at least A-2 or P-2 from either Standard & Poor’s Corporation or Moody’s Investors Services, (b) commercial paper maturing no more than one year from the date of creation thereof and currently having a
rating of at least A-2 or P-2 from either Standard & Poor’s Corporation or Moody’s Investors Service, (c) certificates of deposit issued by any
bank with assets of at least $500,000,000 maturing no more than one year from the date of investment therein, and (d) money market accounts; 

(iv) repurchases of stock from former or existing employees, directors, or consultants of Borrower under the terms of
applicable repurchase agreements in an aggregate amount not to exceed $250,000 in any fiscal year, provided that no Event of Default has occurred, is continuing or would exist after giving effect to the repurchases; 

(v) Investments accepted in connection with Permitted Transfers; 

(vi) Investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers or
suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of Borrower’s business; 

(vii) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and
suppliers who are not Affiliates, in the ordinary course of business, provided that this subparagraph (vii) shall not apply to Investments of Borrower in any Subsidiary; 

  
 8 

 (viii) Investments consisting of loans not involving the net transfer on a
substantially contemporaneous basis of cash proceeds to employees, officers or directors relating to the purchase of capital stock of Borrower pursuant to employee stock purchase plans or other similar agreements approved by Borrower’s Board of
Directors; 
 (ix) Investments consisting of (a) travel advances, employee relocation loans and other employee loans in
the ordinary course of business and (b) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to employee stock purchase plans or agreements; 

(x) Investments in newly-formed Domestic Subsidiaries, provided that each such Domestic Subsidiary has entered into or enters
into a Joinder Agreement promptly after its formation by Borrower and execute such other documents as shall be reasonably requested by Agent; 

(xi) Investments in Foreign Subsidiaries approved in advance in writing by Agent; 

(xii) joint ventures, research collaborations or strategic alliances in the ordinary course of Borrower’s business
including any licensing of Non-Core Intellectual Property permitted hereunder, nonexclusive licensing of technology, the development of technology or the providing of technical support, provided that any cash
Investments by Borrower do not exceed $1,000,000 in the aggregate in any fiscal year and $2,000,000 in the aggregate during the term of this Agreement; 

(xiii) subject to Section 7.12, Investments in Deposit Accounts; 

(xiv) Investments in the MSC Subsidiary, so long as an Event of Default does not exist at the time of such Investment and would
not exist after giving effect to such Investment and provided that Borrower is, at all times, in compliance with the MSC Investment Conditions; and 

(xv) additional Investments that do not exceed $250,000 in the aggregate. 

“Permitted Liens” means: 

(i) Liens in favor of Agent or the Lenders; 

(ii) Liens existing on the Closing Date which are disclosed in Schedule 1C; 

(iii) Liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested in
good faith by appropriate proceedings diligently conducted; provided, that Borrower maintains adequate reserves therefor on Borrower’s Books in accordance with GAAP; 

(iv) Liens securing claims or demands of materialmen, artisans, mechanics, carriers, warehousemen, landlords and other like
Persons arising in the ordinary course of Borrower’s business and imposed without action of such parties; provided, that the payment thereof is not yet required; 

  
 9 

 (v) Liens arising from judgments, decrees or attachments in circumstances
which do not constitute an Event of Default hereunder; 
 (vi) the following deposits, to the extent made in the ordinary
course of business: deposits under worker’s compensation, unemployment insurance, social security and other similar laws, or to secure the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure
indemnity, performance or other similar bonds for the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure statutory obligations (other than Liens arising under ERISA or environmental Liens) or
surety or appeal bonds, or to secure indemnity, performance or other similar bonds; 
 (vii) Liens on Equipment or software
or other intellectual property constituting purchase money Liens and Liens in connection with capital leases securing Indebtedness permitted in clause (iii) of “Permitted Indebtedness”; 

(viii) Liens incurred in connection with Subordinated Indebtedness; 

(ix) leasehold interests in leases or subleases and licenses granted in the ordinary course of business and not interfering in
any material respect with the business of the licensor; 
 (x) Liens in favor of customs and revenue authorities arising as a
matter of law to secure payment of custom duties that are promptly paid on or before the date they become due; 
 (xi) Liens
on insurance proceeds securing the payment of financed insurance premiums that are promptly paid on or before the date they become due (provided that such Liens extend only to such insurance proceeds and not to any other property or assets); 

(xii) statutory and common law rights of set-off and other similar rights as to
deposits of cash and securities in favor of banks, other depository institutions and brokerage firms; 
 (xiii) easements,
zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business so long as they do not
materially impair the value or marketability of the related property; 
 (xiv) (A) Liens on Cash securing obligations
permitted under clause (vii) of the definition of Permitted Indebtedness and (B) security deposits in connection with real property leases, the combination of (A) and (B) in an aggregate amount not to exceed $250,000 at any time; and

 (xv) licenses permitted hereunder; 

(xvi) Liens in favor of other financial institutions arising in connection with Deposit Accounts and/or securities accounts
held at such institutions in the ordinary course of business; 
 (xvii) Liens consisting of pledges of cash, cash equivalents
or government securities to secure swap or foreign exchange contracts or letters of credit, in a combined aggregate amount outstanding not to exceed $500,000; 

(xviii) the filing of UCC financing statements solely as a precautionary measure in connection with operating leases or
consignment of goods; 

  
 10 

 (xix) Liens not otherwise permitted hereunder securing Indebtedness with
specific assets in an aggregate outstanding amount not to exceed $250,000; and 
 (xx) Liens incurred in connection with the
extension, renewal or refinancing of the Indebtedness secured by Liens of the type described in clauses (i) through (xix) above; provided, that any extension, renewal or replacement Lien shall be limited to the property encumbered by the
existing Lien and the principal amount of the Indebtedness being extended, renewed or refinanced (as may have been reduced by any payment thereon) does not increase. 

“Permitted Out-Licenses” mean the following licenses entered into in the ordinary course of
business: 
 (i) non-exclusive licenses and
non-exclusive arrangements for the use of Intellectual Property; 
 (ii) licenses
that could not result in a legal transfer of title of the licensed property that may be exclusive in respects other than territory; and 

(iii) licenses that could not result in a legal transfer of title of the licensed property that may be exclusive as to
territory: 
 (x) but only as to discreet geographical areas outside of the United States of America, or 

(y) solely for Non-Core Intellectual Property. 

“Permitted Transfers” means: 

(i) sales of Inventory in the ordinary course of business, 

(ii) Permitted Out-Licenses, 

(iii) dispositions of worn-out, obsolete or surplus Equipment at fair market value in
the ordinary course of business, 
 (iv) (iv) the sale or issuance of any stock of Borrower not prohibited under this
Agreement, 
 (v) Borrower’s use or transfer of cash in a manner that is not prohibited by the terms of this Agreement
or the other Loan Documents; and 
 (vi) other transfers of assets having a fair market value of not more than $250,000 in
the aggregate in any fiscal year. 
 “Person” means any individual, sole proprietorship, partnership, joint venture, trust,
unincorporated organization, association, corporation, limited liability company, institution, other entity or government. 
 “Pledge
Agreement” means the Pledge Agreement dated as of the Closing Date between Borrower and Agent, as the same may from time to time be amended, restated, modified or otherwise supplemented. 

  
 11 

 “Qualified Cash” means the amount of Borrower’s Cash held in accounts in the
United States subject to an Account Control Agreement in favor of Agent. 
 “Qualified Cash A/P Amount” means the amount of
Borrower’s and its Subsidiaries’ accounts payable that have not been paid within ninety (90) days from the invoice date of the relevant account payable. 

“Qualified Subsidiary” means any direct or indirect Subsidiary other than an Excluded Subsidiary. 

“Receivables” means (i) all of Borrower’s Accounts, Instruments, Documents, Chattel Paper, Supporting Obligations, letters
of credit, proceeds of any letter of credit, and Letter of Credit Rights, and (ii) all customer lists, software, and business records related thereto. 

“Required Lenders” means at any time, the holders of more than 50% of the sum of the aggregate unpaid principal amount of the Term
Loans then outstanding. 
 “Restricted License” means any material License or other agreement with respect to which Borrower is
the licensee (a) that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such License or agreement or any other property, or (b) for which a default under or termination of could
interfere with the Agent’s right to sell any Collateral. 
 “Sanctioned Country” means, at any time, a country or territory
which is the subject or target of any Sanctions. 
 “Sanctioned Person” means, at any time, (a) any Person listed in any
Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or by the United Nations Security Council, the European Union or any EU member
state, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person controlled by any such Person. 

“Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by
(a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union or Her
Majesty’s Treasury of the United Kingdom. 
 “Second Interest Only Extension Conditions” shall mean satisfaction of each of
the following events: (a) no default or Event of Default shall have occurred, (b) Borrower shall have achieved the First Interest Only Extension Conditions and (c) on or before November 15, 2020, Borrower achieves Performance
Milestone II, subject to verification by Agent (including supporting documentation requested by Agent). 
 “Secured Obligations”
means Borrower’s obligations under this Agreement and any Loan Document, including any obligation to pay any amount now owing or later arising. 

“Subordinated Indebtedness” means Indebtedness subordinated to the Secured Obligations in amounts and on terms and conditions
satisfactory to Agent in its sole discretion and subject to a subordination agreement in form and substance satisfactory to Agent in its sole discretion. 

  
 12 

 “Subsequent Financing” means the closing of any Borrower financing which becomes
effective after the Closing Date. 
 “Subsidiary” means an entity, whether a corporation, partnership, limited liability company,
joint venture or otherwise, in which Borrower owns or controls 50% or more of the outstanding voting securities, including each entity listed on Schedule 1 hereto. 

“Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding),
assessments, fees or other charges imposed by any governmental authority, including any interest, additions to tax or penalties applicable thereto. 

“Term Commitment” means as to any Lender, the obligation of such Lender, if any, to make a Term Loan Advance to the Borrower in a
principal amount not to exceed the amount set forth under the heading “Term Commitment” opposite such Lender’s name on Schedule 1.1. 

“Term Loan Advance” means each Tranche 1 Advance, Tranche 2 Advance, Tranche 3 Advance, and any other Term Loan funds advanced under
this Agreement. 
 “Term Loan Interest Rate” means, for any day a per annum rate of interest equal to the greater of either (i)
8.95% plus the prime rate as reported in The Wall Street Journal minus 4.75%, and (ii) 8.95%. 
 “Term Loan Maturity Date” means
January 1, 2024; provided that if such day is not a Business Day, the Term Loan Maturity Date shall be the immediately preceding Business Day. 

“Trademark License” means any written agreement granting any right to use any Trademark or Trademark registration, now owned or
hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 
 “Trademarks” means all
trademarks (registered, common law or otherwise) and any applications in connection therewith, including registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United
States of America, any State thereof or any other country or any political subdivision thereof. 
 “Tranche 2 Availability
Conditions” shall mean satisfaction of each of the following events: (a) no default or Event of Default shall have occurred and (b) on or before November 15, 2020, Borrower achieves both Performance Milestone I and Performance
Milestone II, in each case subject to verification by Agent (including supporting documentation requested by Agent). 
 “Tranche 3
Facility Charge” means half of one percent (0.50%) of the Tranche 3 Advance, which is payable to Lender in accordance with Section 4.2(d). 

“UCC” means the Uniform Commercial Code as the same is, from time to time, in effect in the State of California; provided, that in
the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of, or remedies with respect to, Agent’s Lien on any Collateral is governed by the Uniform Commercial Code as the same is, from time
to time, in effect in a jurisdiction other than the State of California, then the term “UCC” shall mean the Uniform Commercial Code as in effect, from time to time, in such other jurisdiction solely for purposes of the provisions thereof
relating to such attachment, perfection, priority or remedies and for purposes of definitions related to such provisions. 

  
 13 

 “U.S. Person” means any Person that is a “United States person” as
defined in Section 7701(a)(30) of the Code. 
 1.2 The following terms are defined in the Sections or subsections
referenced opposite such terms: 
  

					
	Defined Term	  	Section	 
	 Agent
	  	 	Preamble	 
	 Assignee
	  	 	11.14	 
	 Borrower
	  	 	Preamble	 
	 Claims
	  	 	11.11	 
	 Collateral
	  	 	3.1	 
	 Confidential Information
	  	 	11.13	 
	 End of Term Charge
	  	 	2.6	 
	 Event of Default
	  	 	9	 
	 Financial Statements
	  	 	7.1	 
	 Indemnified Person
	  	 	6.3	 
	 Lenders
	  	 	Preamble	 
	 Liabilities
	  	 	6.3	 
	 Maximum Rate
	  	 	2.3	 
	 Open Source License
	  	 	5.10	 
	 Participant Register
	  	 	11.8	 
	 Prepayment Charge
	  	 	2.5	 
	 Publicity Materials
	  	 	11.19	 
	 Register
	  	 	11.7	 
	 Rights to Payment
	  	 	3.1	 
	 Tranche 1 Advance
	  	 	2.2	(a) 
	 Tranche 2 Advance
	  	 	2.2	(a) 
	 Tranche 3 Advance
	  	 	2.2	(a) 

 1.3 Unless otherwise specified, all references in this Agreement or any Annex or Schedule hereto to a
“Section,” “subsection,” “Exhibit,” “Annex,” or “Schedule” shall refer to the corresponding Section, subsection, Exhibit, Annex, or Schedule in or to this Agreement. Unless otherwise specifically
provided herein, any accounting term used in this Agreement or the other Loan Documents shall have the meaning customarily given such term in accordance with GAAP, and all financial computations hereunder shall be computed in accordance with GAAP,
consistently applied. Unless otherwise defined herein or in the other Loan Documents, terms that are used herein or in the other Loan Documents and defined in the UCC shall have the meanings given to them in the UCC. For all purposes under the Loan
Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right,
obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person and (b) if any new Person comes into existence, such new Person shall be deemed to have been
organized on the first date of its existence by the holders of its Equity Interests at such time. 

  
 14 

 SECTION 2. THE LOAN 

2.1 [Reserved.] 

2.2 Term Loan. 

(a) Advances. Subject to the terms and conditions of this Agreement, the Lenders will severally (and not jointly) make in an
amount not to exceed its respective Term Commitment, and Borrower agrees to draw, a Term Loan Advance of Twenty-Two Million Five Hundred Thousand Dollars ($22,500,000) on the Closing Date (the “Tranche 1
Advance”). Subject to the terms and conditions of this Agreement, beginning on the date Borrower achieves the Tranche 2 Availability Conditions and continuing through March 31, 2021, Borrower may request and the Lenders shall severally
(and not jointly) make an additional Term Loan Advance in a principal amount of Five Million Dollars ($5,000,000) (the “Tranche 2 Advance”). Subject to the terms and conditions of this Agreement, and conditioned on approval by the
Lenders’ investment committee in its sole and unfettered discretion, on or before March 31, 2021, Borrower may request an additional Term Loan Advance in a principal amount up to Seven Million Five Hundred Thousand Dollars ($7,500,000)
(the “Tranche 3 Advance”). The aggregate outstanding Term Loan Advances may be up to the Maximum Term Loan Amount. 

(b) Advance Request. To obtain a Term Loan Advance, Borrower shall complete, sign and deliver an Advance Request (at least
three (3) Business Days before the Advance Date other than the Closing Date, which shall be at least one (1) Business Day) to Agent. The Lenders shall fund the Term Loan Advance in the manner requested by the Advance Request provided that
each of the conditions precedent set forth in Section 4 and applicable to such Term Loan Advance is satisfied as of the requested Advance Date. 

(c) Interest. Term Loan Interest Rate. The principal balance shall bear interest thereon from such Advance Date at the Term
Loan Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed. The Term Loan Interest Rate will float and change on the day the prime rate changes from time to time. 

(d) Payment. Borrower will pay interest on each Term Loan Advance in arrears on the first Business Day of each month, beginning
the month after the Advance Date. Borrower shall repay the aggregate Term Loan principal balance that is outstanding on the day immediately preceding the Amortization Date, in equal monthly installments of principal and interest (mortgage style)
beginning on the Amortization Date and continuing on the first Business Day of each month thereafter until the Secured Obligations (other than inchoate indemnity obligations) are repaid. The entire Term Loan principal balance and all accrued but
unpaid interest hereunder, shall be due and payable on the Term Loan Maturity Date. Borrower shall make all payments under this Agreement without setoff, recoupment or deduction and regardless of any counterclaim or defense. If a payment hereunder
becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately following Business Day. The Lenders will initiate debit entries to the Borrower’s Designated Account or any other account as authorized
on the ACH Authorization (i) on each payment date of all periodic obligations payable to the Lenders under each Term Loan Advance and (ii) reasonable and documented
out-of-pocket legal fees and costs incurred by Agent or the Lenders in connection with Section 11.12 of this Agreement; provided that, with respect to clause
(i) above, in the event that the Lenders or Agent informs Borrower that the Lenders will not initiate a debit entry to Borrower’s account for a certain amount of the periodic obligations due on a specific payment date, Borrower shall pay
to the 

  
 15 

 
Lenders such amount of periodic obligations in full in immediately available funds on such payment date; provided, further, that, with respect to clause (i) above, if the Lenders or Agent
informs Borrower that the Lenders will not initiate a debit entry as described above later than the date that is three (3) Business Days prior to such payment date, Borrower shall pay to the Lenders such amount of periodic obligations in full
in immediately available funds on the date that is three (3) Business Days after the date on which the Lenders or Agent notifies Borrower of such; provided, further, that, with respect to clause (ii) above, in the event that the Lenders or
Agent informs Borrower that the Lenders will not initiate a debit entry to Borrower’s account for certain amount of such out-of-pocket legal fees and costs incurred
by Agent or the Lenders, Borrower shall pay to the Lenders such amount in full in immediately available funds within three (3) Business Days. 

2.3 Maximum Interest. Notwithstanding any provision in this Agreement or any other Loan Document, it is the parties’
intent not to contract for, charge or receive interest at a rate that is greater than the maximum rate permissible by law that a court of competent jurisdiction shall deem applicable hereto (which under the laws of the State of California shall be
deemed to be the laws relating to permissible rates of interest on commercial loans) (the “Maximum Rate”). If a court of competent jurisdiction shall finally determine that Borrower has actually paid to the Lenders an amount of interest in
excess of the amount that would have been payable if all of the Secured Obligations had at all times borne interest at the Maximum Rate, then such excess interest actually paid by Borrower shall be applied as follows: first, to the payment of the
Secured Obligations consisting of the outstanding principal; second, after all principal is repaid, to the payment of the Lenders’ accrued interest, reasonable and documented
out-of-pocket costs, expenses, professional fees and any other Secured Obligations; and third, after all Secured Obligations are repaid, the excess (if any) shall be
refunded to Borrower. 
 2.4 Default Interest. In the event any payment is not paid on the scheduled payment date, an amount
equal to five percent (5%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all outstanding Secured Obligations, including principal, interest,
compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.2(c), plus five percent (5%) per annum. In the event any interest is not paid when due hereunder, delinquent interest
shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.2(c) or Section 2.4, as applicable. 

2.5 Prepayment. At its option upon at least five (5) Business Days prior written notice to Agent, Borrower may prepay all,
but not less than all, of the outstanding Advances by paying the entire principal balance, all accrued and unpaid interest thereon, together with a prepayment charge equal to the following percentage of the Advance amount being prepaid: with respect
to each Advance, if such Advance amounts are prepaid in any of the first twelve (12) months following the Closing Date, 2.00%; after twelve (12) months but on or prior to twenty four (24) months, 1.50%; after twenty four
(24) months but on or prior to thirty six (36) months, 1.00%; and thereafter, 0.00% (each, a “Prepayment Charge”). Borrower agrees that the Prepayment Charge is a reasonable calculation of the Lenders’ lost profits in view
of the difficulties and impracticality of determining actual damages resulting from an early repayment of the Advances. Borrower shall prepay the outstanding amount of all principal and accrued interest through the prepayment date and the applicable
Prepayment Charge upon the occurrence of a Change in Control or any other prepayment hereunder. Notwithstanding the foregoing, Agent and the Lenders agree to waive the Prepayment Charge if Agent and the Lenders (in their sole and absolute
discretion) agree in writing to refinance the Advances prior to the Term Loan Maturity Date. Any amounts paid under this Section shall be applied by Agent to the then unpaid amount of any Secured Obligations (including principal and interest) in
such order and priority as Agent may choose in its sole discretion. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately following Business Day.

  
 16 

 2.6 End of Term Charge. On the earliest to occur of (i) the Term Loan
Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or
(iii) the date that the Secured Obligations become due and payable, Borrower shall pay the Lenders a charge equal to 7.55% of the aggregate principal amount of the Term Loan Advances (the “End of Term Charge”).
Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall be deemed earned by the Lenders as of each date a Term Loan Advance is made. For the avoidance of doubt, if a
payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately following Business Day. 

2.7 Pro Rata Treatment. Each payment (including prepayment) on account of any fee and any reduction of the Term Loan Advances
shall be made pro rata according to the Term Commitments of the relevant Lender. 
 2.8 Taxes; Increased Costs. The Borrower,
the Agent and the Lenders each hereby agree to the terms and conditions set forth on Addendum 1 attached hereto. 
 2.9
Treatment of Prepayment Charge and End of Term Charge. Borrower agrees that any Prepayment Charge and any End of Term Charge payable shall be presumed to be the liquidated damages sustained by each Lender as the result of the early termination, and
Borrower agrees that it is reasonable under the circumstances currently existing and existing as of the Closing Date. The Prepayment Charge and the End of Term Charge shall also be payable in the event the Secured Obligations (and/or this Agreement)
are satisfied or released by foreclosure (whether by power of judicial proceeding), deed in lieu of foreclosure, or by any other means. Borrower expressly waives (to the fullest extent it may lawfully do so) the provisions of any present or future
statute or law that prohibits or may prohibit the collection of the foregoing Prepayment Charge and End of Term Charge in connection with any such acceleration. Borrower agrees (to the fullest extent that each may lawfully do so): (a) each of the
Prepayment Charge and the End of Term Charge is reasonable and is the product of an arm’s length transaction between sophisticated business people, ably represented by counsel; (b) each of the Prepayment Charge and the End of Term Charge
shall be payable notwithstanding the then prevailing market rates at the time payment is made; (c) there has been a course of conduct between the Lenders and Borrower giving specific consideration in this transaction for such agreement to pay
the Prepayment Charge and the End of Term Charge as a charge (and not interest) in the event of prepayment or acceleration; (d) Borrower shall be estopped from claiming differently than as agreed to in this Section 2.9. Borrower expressly
acknowledges that their agreement to pay each of the Prepayment Charge and the End of Term Charge to the Lenders as herein described was on the Closing Date and continues to be a material inducement to the Lenders to provide the Term Loans. 

  
 17 

 SECTION 3. SECURITY INTEREST 

3.1 As security for the prompt and complete payment when due (whether on the payment dates or otherwise) of all the Secured
Obligations, subject to Section 3.2, Borrower grants to Agent a security interest in all of Borrower’s right, title, and interest in and to the following Borrower’s personal property whether now owned or hereafter acquired
(collectively, the “Collateral”): (a) Receivables; (b) Equipment; (c) Fixtures; (d) General Intangibles (other than Intellectual Property); (e) Inventory; (f) Investment Property; (g) Deposit Accounts; (h) Cash;
(i) Goods; and all other tangible and intangible personal property of Borrower whether now or hereafter owned or existing, leased, consigned by or to, or acquired by, Borrower and wherever located, and any of Borrower’s property in the
possession or under the control of Agent; and, to the extent not otherwise included, all Proceeds of each of the foregoing and all accessions to, substitutions and replacements for, and rents, profits and products of each of the foregoing;
provided, however, that the Collateral shall include all Accounts and General Intangibles that consist of rights to payment and proceeds from the sale, licensing or disposition of all or any part, or rights
in, the Intellectual Property (the “Rights to Payment”). Notwithstanding the foregoing, if a judicial authority (including a U.S. Bankruptcy Court) holds that a security interest in the underlying Intellectual Property is necessary to have
a security interest in the Rights to Payment, then the Collateral shall automatically, and effective as of the date of this Agreement, include the Intellectual Property to the extent necessary to permit perfection of Agent’s security interest
in the Rights to Payment. 
 3.2 Notwithstanding the broad grant of the security interest set forth in Section 3.1,
above, the Collateral shall not include (a) nonassignable licenses or contracts, which by their terms require the consent of the licensor thereof or another party (but only to the extent such prohibition on transfer is enforceable under
applicable law, including, without limitation, Sections 9406, 9407 and 9408 of the UCC), (b) any Intellectual Property, (c) assets as to which a security interest in such assets is prohibited by applicable law, rule or regulation (but only to
the extent and during such times such prohibition exists), (d) more than 65% of the presently existing and hereafter arising issued and outstanding Equity Interests owned by Borrower of any Excluded Subsidiary that is a CFC or CFC Holdco which
Equity Interests entitle the holder thereof to vote for directors or any other matter (provided, however, that in the case of this clause (d), immediately upon any change in the U.S. tax laws that would allow the pledge of a greater percentage of
such Equity Interests without material adverse tax consequences to the Borrower, the Collateral shall automatically and without further action required by, and without notice to, any Person include such greater percentage of Equity Interests of such
Subsidiary from that time forward) and (e) the assets of any (i) Excluded Subsidiary or (ii) MSC Subsidiary, in each case, including the Equity Interests of any Subsidiary thereof. 

3.3 The security interest granted in Section 3.1 of this Agreement shall continue until the Secured Obligations (other
than contingent indemnification or reimbursement obligations that are not yet due and payable) have been paid in full and Lender has no further commitment or obligation hereunder or under the other Loan Documents to make any further Advances, and
shall thereupon terminate, and Lender shall, at Borrower’s expense, take all actions reasonably requested by Borrower to evidence such termination. 

SECTION 4. CONDITIONS PRECEDENT TO LOAN 

The obligations of the Lenders to make the Loan hereunder are subject to the satisfaction by Borrower of the following conditions: 

4.1 Initial Advance. On or prior to the Closing Date, Borrower shall have delivered to Agent the following: 

  
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 (a) executed copies of the Loan Documents, Account Control Agreements, and
all other documents and instruments reasonably required by Agent to effectuate the transactions contemplated hereby or to create and perfect the Liens of Agent with respect to all Collateral, in all cases in form and substance reasonably acceptable
to Agent; 
 (b) a legal opinion of Borrower’s counsel, in form and substance reasonably acceptable to Agent; 

(c) certified copy of resolutions of Borrower’s board of directors evidencing approval of the Loan and other transactions
evidenced by the Loan Documents; 
 (d) certified copies of the Certificate of Incorporation and the Bylaws, as amended
through the Closing Date, of Borrower; 
 (e) a certificate of good standing for Borrower from its state of incorporation and
similar certificates from all other jurisdictions in which it does business and where the failure to be qualified would have a Material Adverse Effect; 

(f) payment of the Initial Facility Charge and reimbursement of Agent’s and Lenders’ current expenses reimbursable
pursuant to this Agreement and which have been invoiced to Borrower prior to the date hereof, which amounts may be deducted from the initial Advance; 

(g) all certificates of insurance and copies of each insurance policy required hereunder; and 

(h) such other documents as Agent may reasonably request. 

4.2 All Advances. On each Advance Date: 

(a) Agent shall have received (i) an Advance Request for the relevant Advance as required by Section 2.2(b), each
duly executed by Borrower’s Chief Executive Officer or Chief Financial Officer, and (ii) any other documents Agent may reasonably request. 

(b) The representations and warranties set forth in this Agreement shall be true and correct in all material respects on and as
of the Advance Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and
correct in all material respects as of such date. 
 (c) Borrower shall be in compliance with all the terms and provisions
set forth herein and in each other Loan Document on its part to be observed or performed, and at the time of and immediately after such Advance no Event of Default shall have occurred and be continuing. 

(d) With respect to the Tranche 3 Advance, Borrower shall have paid the Tranche 3 Facility Charge; 

(e) Each Advance Request shall be deemed to constitute a representation and warranty by Borrower on the relevant Advance Date
as to the matters specified in paragraphs (b) and (c) of this Section 4.2 and as to the matters set forth in the Advance Request. 

  
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 4.3 No Default. As of the Closing Date and each Advance Date, (i) no
fact or condition exists that would (or would, with the passage of time, the giving of notice, or both) constitute an Event of Default and (ii) no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred
and is continuing. 
 SECTION 5. REPRESENTATIONS AND WARRANTIES OF BORROWER 

Borrower represents and warrants that: 

5.1 Corporate Status. Borrower is a corporation duly organized, legally existing and in good standing under the laws of the
State of Delaware, and is duly qualified as a foreign corporation in all jurisdictions in which the nature of its business or location of its properties require such qualifications and where the failure to be qualified could reasonably be expected
to have a Material Adverse Effect. Borrower’s present name, former names (if any), locations, place of formation, tax identification number, organizational identification number and other information are correctly set forth in Exhibit B, as may
be updated by Borrower in a written notice (including any Compliance Certificate) provided to Agent after the Closing Date. 

5.2 Collateral. Borrower owns the Collateral and the Intellectual Property, free of all Liens, except for Permitted Liens.
Borrower has the power and authority to grant to Agent a Lien in the Collateral as security for the Secured Obligations. 

5.3 Consents. Borrower’s execution, delivery and performance of this Agreement and all other Loan Documents (i) have
been duly authorized by all necessary corporate action of Borrower, (ii) will not result in the creation or imposition of any Lien upon the Collateral, other than Permitted Liens and the Liens created by this Agreement and the other Loan
Documents, (iii) do not violate any provisions of Borrower’s Certificate or Articles of Incorporation (as applicable), bylaws, or any material law, regulation, order, injunction, judgment, decree or writ to which Borrower is subject and
(iv) except as described on Schedule 5.3, do not violate in any material respect any material contract or agreement or require the consent or approval of any other Person which has not already been obtained. The individual or individuals
executing the Loan Documents are duly authorized to do so. 
 5.4 Material Adverse Effect. No event that has had or could
reasonably be expected to have a Material Adverse Effect has occurred and is continuing. Borrower is not aware of any event likely to occur that is reasonably expected to result in a Material Adverse Effect. 

5.5 Actions Before Governmental Authorities. There are no actions, suits or proceedings at law or in equity or by or before any
governmental authority now pending or, to the knowledge of Borrower, threatened in writing against or affecting Borrower or its property, that is reasonably expected to result in a Material Adverse Effect. 

5.6 Laws. Neither Borrower nor any of its Subsidiaries is in violation of any law, rule or regulation, or in default with
respect to any judgment, writ, injunction or decree of any governmental authority, where such violation or default is reasonably expected to result in a Material Adverse Effect. Borrower is not in default in any manner under any provision of any
agreement or instrument evidencing material Indebtedness, or any other material agreement to which it is a party or by which it is bound and for which such default would reasonably be expected to result in a Material Adverse Effect. 

  
 20 

 Neither Borrower nor any of its Subsidiaries is an “investment
company” or a company “controlled” by an “investment company” under the Investment Company Act of 1940, as amended. Neither Borrower nor any of its Subsidiaries is engaged as one of its important activities in extending
credit for margin stock (under Regulations X, T and U of the Federal Reserve Board of Governors). Borrower and each of its Subsidiaries has complied in all material respects with the Federal Fair Labor Standards Act. Neither Borrower nor any of its
Subsidiaries is a “holding company” or an “affiliate” of a “holding company” or a “subsidiary company” of a “holding company” as each term is defined and used in the Public Utility Holding Company
Act of 2005. Neither Borrower’s nor any of its Subsidiaries’ properties or assets has been used by Borrower or such Subsidiary or, to Borrower’s knowledge, by previous Persons, in disposing, producing, storing, treating, or
transporting any hazardous substance other than in material compliance with applicable laws. Borrower and each of its Subsidiaries has obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all
notices to, all governmental authorities that are necessary to continue their respective businesses as currently conducted. 

None of Borrower, any of its Subsidiaries, or any of Borrower’s or its Subsidiaries’ Affiliates or any of their
respective agents acting or benefiting in any capacity in connection with the transactions contemplated by this Agreement is (i) in violation of any Anti-Terrorism Law, (ii) engaging in or conspiring to engage in any transaction that
evades or avoids, or has the purpose of evading or avoiding or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law, or (iii) is a Blocked Person. None of Borrower, any of its Subsidiaries, or to the knowledge of
Borrower and any of its Affiliates or agents, acting or benefiting in any capacity in connection with the transactions contemplated by this Agreement, (x) conducts any business or engages in making or receiving any contribution of funds, goods
or services to or for the benefit of any Blocked Person, or (y) deals in, or otherwise engages in any transaction relating to, any property or interest in property blocked pursuant to Executive Order No. 13224, any similar executive order
or other Anti-Terrorism Law. None of the funds to be provided under this Agreement will be used, directly or indirectly, (a) for any activities in violation of any applicable anti-money laundering, economic sanctions and anti-bribery laws and
regulations laws and regulations or (b) for any payment to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain,
retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended. 

5.7 Information Correct and Current. No information, report, Advance Request, financial statement, exhibit or schedule
furnished, by or on behalf of Borrower to Agent in connection with any Loan Document or included therein or delivered pursuant thereto (other than the projections) contained, or, when taken as a whole, contains or will contain any material
misstatement of fact or, when taken together with all other such information or documents, omitted, omits or will omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were, are
or will be made, not materially misleading at the time such statement was made or deemed made. Additionally, any and all financial or business projections provided by Borrower to Agent, whether prior to or after the Closing Date, shall be
(i) provided in good faith and based on the most current data and information available to Borrower, and (ii) the most current of such projections provided to Borrower’s Board of Directors (it being understood that such projections
are subject to significant uncertainties and contingencies, many of which are beyond the control of Borrower, that no assurance is given that any particular projections will be realized and that actual results may differ materially). 

  
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 5.8 Tax Matters. Except as described on Schedule 5.8, (a) Borrower and its
Subsidiaries have filed all federal and state income Tax returns and other material Tax returns that they are required to file, (b) Borrower and its Subsidiaries have duly paid all federal and state income Taxes and other material Taxes or
installments thereof (including any interest or penalties) as and when due, except those being contested in good faith with adequate reserves taken in connection thereto in accordance with GAAP, (c) Borrower has paid or fully reserved for any
tax assessment received by Borrower for the three (3) years preceding the Closing Date, if any, and (d) to Borrower’s knowledge, no proposed or pending Tax assessments, deficiencies, audits or other proceedings with respect to
Borrower or any Subsidiary have had, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

5.9 Intellectual Property Claims. Borrower is the sole owner of, or otherwise has the right to use, the Intellectual Property
material to Borrower’s business. Except as described on Schedule 5.9, (i) each of the material Copyrights, Trademarks and Patents is valid and enforceable, (ii) no material part of the Intellectual Property has been judged invalid or
unenforceable, in whole or in part, and (iii) to the best of Borrower’s knowledge, no claim has been made in writing alleging to Borrower that any material part of the Intellectual Property violates the rights of any third party.
Exhibit C is a true, correct and complete list of each of Borrower’s Patents, registered Trademarks, registered Copyrights, and material agreements under which Borrower licenses Intellectual Property from third parties (other than
shrink-wrap software licenses or other licenses which, if terminated, would not reasonably be expected to result in a Material Adverse Effect), together with application or registration numbers, as applicable, owned by Borrower or any Subsidiary, in
each case as of the Closing Date. Borrower is not in material breach of, nor has Borrower failed to perform any material obligations under, any of the foregoing contracts, licenses or agreements and, to Borrower’s knowledge, no third party to
any such contract, license or agreement is in material breach thereof or has failed to perform any material obligations thereunder, except as would not reasonably be expected to result in a Material Adverse Effect. 

5.10 Intellectual Property. To the best of Borrower’s knowledge, except as described on Schedule 5.10, Borrower has all
material rights with respect to Intellectual Property necessary or material in the operation or conduct of Borrower’s business as currently conducted and proposed to be conducted by Borrower. Without limiting the generality of the foregoing,
and in the case of Licenses, except for restrictions that are unenforceable under Division 9 of the UCC, Borrower has the right, to the extent required to operate Borrower’s business, to freely transfer, license or assign Intellectual Property
necessary or material in the operation or conduct of Borrower’s business as currently conducted and proposed to be conducted by Borrower, without condition, restriction or payment of any kind (other than license payments in the ordinary course
of business) to any third party, and Borrower owns or has the right to use, pursuant to valid licenses, all software development tools, library functions, compilers and all other third-party software and other items that are material to
Borrower’s business and used in the design, development, promotion, sale, license, manufacture, import, export, use or distribution of Borrower Products except customary covenants in inbound license agreements and equipment leases where
Borrower is the licensee or lessee. Borrower is not a party to, nor is it bound by, any Restricted License. 
 No material software or other
materials used by Borrower or any of its Subsidiaries (or used in any Borrower Products or any Subsidiaries’ products) are subject to an open-source or similar license (including but not limited to the General Public License, Lesser General
Public License, Mozilla Public License, or Affero License) (collectively, “Open Source Licenses”) in a manner that would cause such software or other materials to have to be (i) distributed to third parties at no charge or a minimal
charge (royalty-free basis); (ii) licensed to third parties to modify, make derivative works based on, decompile, disassemble, or reverse engineer; or (iii) used in a manner that does could require disclosure or distribution in source code
form. 

  
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 5.11 Borrower Products. Except as described on Schedule 5.11, no material
Intellectual Property owned by Borrower or Borrower Product has been or is subject to any actual or, to the knowledge of Borrower, threatened in writing litigation, proceeding (including any proceeding in the United States Patent and Trademark
Office or any corresponding foreign office or agency) or outstanding decree, order, judgment, settlement agreement or stipulation that restricts in any manner Borrower’s use, transfer or licensing thereof or that would reasonably be expected to
adversely affect the validity, use or enforceability thereof. There is no decree, order, judgment, agreement, stipulation, arbitral award or other provision entered into in connection with any litigation or proceeding before a governmental authority
that obligates Borrower to grant licenses or ownership interest in any future Intellectual Property material to the operation or conduct of the business of Borrower or Borrower Products. Borrower has not received any written notice or claim, or, to
the knowledge of Borrower, oral notice or claim, challenging or questioning Borrower’s ownership in any material Intellectual Property (or written notice of any claim challenging or questioning the ownership in any material licensed
Intellectual Property of the owner thereof) or suggesting that any third party has any claim of legal or beneficial ownership with respect thereto nor, to Borrower’s knowledge, is there a reasonable basis for any such claim. To the
Borrower’s knowledge, neither Borrower’s use of its material Intellectual Property nor the production and sale of Borrower Products infringes the material Intellectual Property or other rights of others. 

5.12 Financial Accounts. Exhibit D, as may be updated by the Borrower in a written notice provided to Agent after the Closing
Date, is a true, correct and complete list of (a) all banks and other financial institutions at which Borrower or any Subsidiary maintains Deposit Accounts and (b) all institutions at which Borrower or any Subsidiary maintains an account
holding Investment Property, and such exhibit correctly identifies the name, address and telephone number of each bank or other institution, the name in which the account is held, a description of the purpose of the account, and the complete account
number therefor. 
 5.13 Employee Loans. Borrower has no outstanding loans to any employee, officer or director of the
Borrower nor has Borrower guaranteed the payment of any loan made to an employee, officer or director of the Borrower by a third party. 

5.14 Capitalization and Subsidiaries. Borrower’s capitalization as of the Closing Date is set forth on Schedule 5.14
annexed hereto. Borrower does not own any stock, partnership interest or other securities of any Person, except for Permitted Investments. Attached as Schedule 5.14, as may be updated by Borrower in a written notice provided after the Closing Date,
is a true, correct and complete list of each Subsidiary. 
 5.15 Certain Subsidiary Voting Rights. No decision or action in
any governing document of any Excluded Subsidiary that is a CFC or CFC Holdco requires a vote of greater than 50.1% of the Equity Interests or voting rights of such Subsidiary, other than with Agent’s written consent. 

  
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 SECTION 6. INSURANCE; INDEMNIFICATION 

6.1 Coverage. Borrower shall cause to be carried and maintained commercial general liability insurance, on an occurrence form,
against risks customarily insured against by businesses of Borrower’s size in Borrower’s line of business in similar locations. Such risks shall include the risks of bodily injury, including death, property damage, personal injury,
advertising injury, and contractual liability per the terms of the indemnification agreement found in Section 6.3. Borrower must maintain a minimum of $2,000,000 of commercial general liability insurance for each occurrence. Borrower has and
agrees to maintain a minimum of $2,000,000 of directors’ and officers’ insurance for each occurrence and $5,000,000 in the aggregate. So long as there are any Secured Obligations (other than inchoate indemnification or reimbursement
obligations or other obligations which, by their terms, survive termination of this Agreement) outstanding, Borrower shall also cause to be carried and maintained insurance upon the Collateral, insuring against all risks of physical loss or damage
howsoever caused, in an amount not less than the full replacement cost of the Collateral, provided that such insurance may be subject to standard exceptions and deductibles. If Borrower fails to obtain the insurance called for by this
Section 6.1 or fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document or which may be required to preserve the Collateral, Agent may obtain such
insurance or make such payment, and all amounts so paid by Agent are immediately due and payable, bearing interest at the then highest rate applicable to the Secured Obligations, and secured by the Collateral. Agent will make reasonable efforts
to provide Borrower with notice of Agent obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Agent are deemed an agreement to make similar payments in the future or Agent’s waiver of
any Event of Default. 
 6.2 Certificates. Borrower shall deliver to Agent certificates of insurance that evidence
Borrower’s compliance with its insurance obligations in Section 6.1 and the obligations contained in this Section 6.2. Borrower’s insurance certificate shall state Agent (shown as “Hercules Capital, Inc., as Agent”) is
an additional insured for commercial general liability, a lenders loss payable for all risk property damage insurance, subject to the insurer’s approval, and a lenders loss payable for property insurance and additional insured for liability
insurance for any future insurance that Borrower may acquire from such insurer. Notwithstanding the foregoing, (i) so long as no Event of Default has occurred and is continuing, Borrower shall have the option of applying the proceeds of any
casualty policy up to $250,000 in the aggregate for all losses under all casualty policies in any one (1) year, toward the replacement or repair of destroyed or damaged property; provided that any such replaced or repaired property
(A) shall be of equal or like value as the replaced or repaired Collateral and (B) shall be deemed Collateral in which Agent has been granted a first priority security interest (subject only to Permitted Liens that are permitted pursuant
to the terms of this Agreement to have superior priority to Agent’s Lien), and (ii) after the occurrence and during the continuance of an Event of Default, all proceeds payable under such casualty policy shall, at the option of Agent, be
payable to Agent on account of the Secured Obligations. Borrower shall deliver additional insured endorsements for liability and lender’s loss payable endorsements for all risk property damage insurance pursuant to Section 7.16(b). All
certificates of insurance will provide for a minimum of thirty (30) days advance written notice to Agent of cancellation (other than cancellation for non-payment of premiums, for which ten
(10) days’ advance written notice shall be sufficient). Any failure of Agent to scrutinize such insurance certificates for compliance is not a waiver of any of Agent’s rights, all of which are reserved. Upon request by Agent, Borrower
shall provide Agent with copies of each insurance policy, and upon entering or amending any insurance policy required hereunder, Borrower shall provide Agent with copies of such policies and shall promptly deliver to Agent updated insurance
certificates with respect to such policies. 

  
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 6.3 Indemnity. Borrower agrees to indemnify and hold Agent, the Lenders and
their officers, directors, employees, agents, in-house attorneys, representatives and shareholders (each, an “Indemnified Person”) harmless from and against any and all claims, reasonable and
documented out-of-pocket costs, expenses, damages and liabilities (including such claims, costs, expenses, damages and liabilities based on liability in tort, including
strict liability in tort), including reasonable and documented out-of-pocket attorneys’ fees and disbursements and other costs of investigation or defense
(including those incurred upon any appeal) (collectively, “Liabilities”), that may be instituted or asserted against or incurred by such Indemnified Person as the result of credit having been extended, suspended or terminated under this
Agreement and the other Loan Documents or the administration of such credit, or in connection with or arising out of the transactions contemplated hereunder and thereunder, or any actions or failures to act in connection therewith, or arising out of
the disposition or utilization of the Collateral, excluding in all cases Liabilities to the extent resulting solely from any Indemnified Person’s gross negligence or willful misconduct. This Section 6.3 shall not apply with respect to
Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. In no event shall any Indemnified Person be liable on any theory of liability for any special, indirect,
consequential or punitive damages (including any loss of profits, business or anticipated savings). This Section 6.3 shall survive the repayment of indebtedness under, and otherwise shall survive the expiration or other termination of, the Loan
Agreement. 
 SECTION 7. COVENANTS OF BORROWER 

Borrower agrees as follows: 

7.1 Financial Reports. Borrower shall furnish to Agent the financial statements and reports listed hereinafter (the
“Financial Statements”): 
 (a) as soon as practicable (and in any event within 30 days) after the end of each
month, unaudited interim and year-to-date financial statements as of the end of such month (prepared on a consolidated and consolidating basis, if applicable), including
balance sheet and related statements of income and cash flows accompanied by a report detailing any material contingencies (including the commencement of any material litigation by or against Borrower) or any other occurrence that could reasonably
be expected to have a Material Adverse Effect, all certified by Borrower’s Chief Executive Officer or Chief Financial Officer to the effect that they have been prepared in accordance with GAAP, except (i) for the absence of footnotes,
(ii) that they are subject to normal year end adjustments, and (iii) they do not contain certain non-cash items that are customarily included in quarterly and annual financial statements; 

(b) as soon as practicable (and in any event within 45 days) after the end of each calendar quarter, unaudited interim and year-to-date financial statements as of the end of such calendar quarter (prepared on a consolidated and consolidating basis, if applicable), including balance sheet and
related statements of income and cash flows accompanied by a report detailing any material contingencies (including the commencement of any material litigation by or against Borrower) or any other occurrence that would reasonably be expected to have
a Material Adverse Effect, certified by Borrower’s Chief Executive Officer or Chief Financial Officer to the effect that they have been prepared in accordance with GAAP, except (i) for the absence of footnotes, and (ii) that they are
subject to normal year end adjustments. 
 (c) as soon as practicable (and in any event within ninety (90) days) after
the end of each fiscal year, unqualified (other than as to going concern or a qualification resulting solely from the scheduled maturity of the Advances occurring within one year from the date such opinion is delivered) audited financial statements
as of the end of such year (prepared on a 

  
 25 

 consolidated and consolidating basis, if applicable), including balance sheet and related
statements of income and cash flows, and setting forth in comparative form the corresponding figures for the preceding fiscal year, certified by a firm of independent certified public accountants selected by Borrower and reasonably acceptable to
Agent, accompanied by any management report from such accountants; 
 (d) as soon as practicable (and in any event within 30
days) after the end of each month, a Compliance Certificate in the form of Exhibit E; 
 (e) as soon as practicable (and in
any event within 30 days) after the end of each month, a report showing agings of accounts receivable and accounts payable; 

(f) promptly after the sending or filing thereof, as the case may be, (i) copies of any proxy statements, financial
statements or reports that Borrower has made generally available to holders of its preferred stock and (ii) copies of any regular, periodic and special reports or registration statements that Borrower files with the Securities and Exchange
Commission or any governmental authority that may be substituted therefor, or any national securities exchange; 
 (g) within
ten (10) Business Days after a Board meeting, an executive summary of the materials that Borrower provides to its directors in connection with meetings of the Board of Directors, provided that in all cases Borrower may exclude highly
confidential information, information that would present a conflict of interest and information subject to attorney-client privilege; 

(h) financial and business projections promptly following their approval by Borrower’s Board of Directors, and in any
event, within 60 days after the end of Borrower’s fiscal year, as well as budgets, operating plans and other financial information reasonably requested by Agent; and 

(i) immediate notice if Borrower or any Subsidiary has knowledge that Borrower, or any Subsidiary or Affiliate of Borrower, is
listed on the OFAC Lists or (a) is convicted on, (b) pleads nolo contendere to, (c) is indicted on, or (d) is arraigned and held over on charges involving money laundering or predicate crimes to money laundering. 

Borrower shall not make any change in its (a) accounting policies or reporting practices, except as required by GAAP or (b) fiscal years or fiscal
quarters. The fiscal year of Borrower shall end on December 31. 
 The executed Compliance Certificate and all Financial Statements required to be delivered
pursuant to clauses (a), (b), (c) and (d) shall be sent via e-mail to Agent at financialstatements@htgc.com with a copy to legal@htgc.com and jbourque@htgc.com; provided, that if e-mail is not available or sending such Financial Statements via e-mail is not possible, they shall be faxed to Agent at: (650)
473-9194, attention Account Manager: Kaleido Biosciences, Inc. 
 Notwithstanding the foregoing, documents required
to be delivered under Sections 7.1(a), (b), (c) or (f) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date
on which Borrower posts such documents, or provides a link thereto, on Borrower’s website on the Internet at Borrower’s website address; provided that Borrower shall directly provide Agent all Financial Statements required to be delivered
pursuant to Section 7.1(b) and (c) hereunder. 

  
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 7.2 Management Rights. Borrower shall permit any representative that Agent
or the Lenders authorizes, including its attorneys and accountants, to inspect the Collateral and examine and make copies and abstracts of the books of account and records of Borrower at reasonable times and upon reasonable notice during normal
business hours; provided, however, that so long as no Event of Default has occurred and is continuing, such examinations shall be limited to no more often than once per fiscal year. In addition, in connection with any such examination, any
such representative shall have the right to meet with management and officers of Borrower to discuss such books of account and records. In addition, Agent or the Lenders shall be entitled at reasonable times and intervals and upon reasonable prior
written notice to consult with and advise the management and officers of Borrower concerning significant business issues affecting Borrower. Such consultations shall not unreasonably interfere with Borrower’s business operations. The parties
intend that the rights granted Agent and the Lenders shall constitute “management rights” within the meaning of 29 C.F.R. Section 2510.3-101(d)(3)(ii), but that any advice, recommendations or
participation by Agent or the Lenders with respect to any business issues shall not be deemed to give Agent or the Lenders, nor be deemed an exercise by Agent or the Lenders of, control over Borrower’s management or policies. 

7.3 Further Assurances. Borrower shall from time to time execute, deliver and file, alone or with Agent, any financing
statements, security agreements, collateral assignments, notices, control agreements, promissory notes or other documents to perfect, give the highest priority to Agent’s Lien on the Collateral (subject to Permitted Liens) as Agent may
reasonably request from time to time or as otherwise specifically required under the Loan Documents. Borrower shall from time to time procure any instruments or documents as may be reasonably requested by Agent, and take all further action that may
be necessary, or that Agent may reasonably request, to perfect and protect the Liens granted hereby and thereby in accordance with the Loan Documents. In addition, and for such purposes only, Borrower hereby authorizes Agent to execute and deliver
on behalf of Borrower and to file such financing statements (including an indication that the financing statement covers “all assets or all personal property” of Borrower in accordance with
Section 9-504 of the UCC), collateral assignments, notices, control agreements, security agreements and other documents without the signature of Borrower either in Agent’s name or in the name of
Agent as agent and attorney-in-fact for Borrower. Borrower shall protect and defend Borrower’s title to the Collateral and Agent’s Lien thereon against all
Persons claiming any interest adverse to Borrower or Agent other than Permitted Liens. 
 7.4 Indebtedness. Borrower shall
not create, incur, assume, guarantee or be or remain liable with respect to any Indebtedness, or permit any Subsidiary so to do, other than Permitted Indebtedness, or prepay any Subordinated Indebtedness or take any actions which impose on Borrower
an obligation to prepay any Subordinated Indebtedness, except for (a) the conversion of Indebtedness into equity securities and the payment of cash in lieu of fractional shares in connection with such conversion, (b) purchase money
Indebtedness pursuant to its then applicable payment schedule, (c) prepayment by any Subsidiary of (i) inter-company Indebtedness owed by such Subsidiary to any Borrower, or (ii) if such Subsidiary is not a Borrower, intercompany
Indebtedness owed by such Subsidiary to another Subsidiary that is not a Borrower, (d) as otherwise permitted hereunder or approved in writing by Agent, or (e) the Indebtedness under the Loan Documents pursuant to Section 2.5. 

7.5 Collateral. Borrower shall at all times keep the Collateral, the Intellectual Property and all other property and assets
used in Borrower’s business or in which Borrower now or hereafter holds any interest free and clear from any Liens whatsoever (except for Permitted Liens), and shall give Agent prompt written notice of any known legal process affecting the
Collateral, the 

  
 27 

 
Intellectual Property, such other property and assets, in each case, with a value in excess of $250,000, or any Liens thereon, provided however, that the Collateral and such other property and
assets may be subject to Permitted Liens except that there shall be no Liens whatsoever on Intellectual Property. Borrower shall not agree with any Person other than Agent or the Lenders not to encumber its property (other than holders of Permitted
Liens). Borrower shall not enter into or suffer to exist or become effective any agreement that prohibits or limits the ability of any Borrower to create, incur, assume or suffer to exist any Lien upon any of its property (including Intellectual
Property), whether now owned or hereafter acquired, to secure its obligations under the Loan Documents to which it is a party other than (a) this Agreement and the other Loan Documents, (b) any agreements governing any purchase money Liens
or capital lease obligations otherwise permitted hereby (in which case, any prohibition or limitation shall only be effective against the assets financed thereby) and (c) customary restrictions on the assignment of leases, licenses and other
agreements. Borrower shall cause its Subsidiaries to protect and defend such Subsidiary’s title to its assets from and against all Persons claiming any interest adverse to such Subsidiary, and Borrower shall cause its Subsidiaries at all times
to keep such Subsidiary’s property and assets free and clear from any known legal process or Liens whatsoever (except for Permitted Liens, provided however, that there shall be no Liens whatsoever on Intellectual Property), and shall give Agent
prompt written notice of any legal process affecting such Subsidiary’s assets with a value in excess of $250,000. 
 7.6
Investments. Borrower shall not directly or indirectly acquire or own, or make any Investment in or to any Person, or permit any of its Subsidiaries so to do, other than Permitted Investments. 

7.7 Distributions. Borrower shall not, and shall not allow any Subsidiary to, (a) repurchase or redeem any class of stock
or other Equity Interest other than pursuant to employee, director or consultant repurchase plans, stock option plans or agreements, restricted stock agreements, or other similar agreements, provided, however, in each case the repurchase or
redemption price does not exceed the original consideration paid for such stock or Equity Interest, or (b) declare or pay any cash dividend or make any other cash distribution on any class of stock or other Equity Interest, except that a
Subsidiary may pay dividends or make other distributions to Borrower or any Subsidiary of Borrower, or (c) lend money to any employees, officers or directors or guarantee the payment of any such loans granted by a third party in excess of
$250,000 in the aggregate outstanding other than Permitted Investments or (d) waive, release or forgive any Indebtedness owed by any employees, officers or directors in excess of $250,000 in the aggregate per fiscal year. 

7.8 Transfers. Except for Permitted Transfers, Borrower shall not, and shall not allow any Subsidiary to, voluntarily or
involuntarily transfer, sell, lease, license, lend or in any other manner convey any equitable, beneficial or legal interest in any material portion of its assets. 

7.9 Mergers or Acquisitions. Other than Permitted In-Licenses, Borrower shall not merge
or consolidate, or permit any of its Subsidiaries to merge or consolidate, with or into any other business organization (other than mergers or consolidations of (a) a Subsidiary which is not a Borrower into another Subsidiary or into Borrower
or (b) a Borrower into another Borrower), or acquire, or permit any of its Subsidiaries to acquire, in each case including for the avoidance of doubt through a merger, purchase, in-licensing arrangement
or any similar transaction, all or substantially all of the capital stock or any property of another Person. 

  
 28 

 7.10 Taxes. Borrower shall, and shall cause each of its Subsidiaries to, pay
when due all material Taxes of any nature whatsoever now or hereafter imposed or assessed against Borrower or the Collateral or upon Borrower’s ownership, possession, use, operation or disposition thereof or upon Borrower’s rents, receipts
or earnings arising therefrom, unless the same are being contested in good faith and by appropriate proceedings diligently conducted and for which adequate reserves are being maintained in accordance with GAAP. Borrower shall, and shall cause each
of its Subsidiaries to, file on or before the due date therefor (taking into account proper extensions) all federal and state income Tax returns and other material Tax returns required to be filed. 

7.11 Corporate Changes. Neither Borrower nor any Subsidiary shall change its corporate name, legal form or jurisdiction of
formation without ten (10) days’ prior written notice to Agent. Neither Borrower nor any Subsidiary shall suffer a Change in Control unless, as part of the transaction(s) resulting in such a Change in Control, the Secured Obligations
(other than inchoate indemnity obligations) are repaid in full in cash. Neither Borrower nor any Subsidiary shall relocate its chief executive office or its principal place of business unless: (i) it has provided prior written notice to Agent;
and (ii) such relocation shall be within the continental United States of America. Neither Borrower nor any Domestic Subsidiary or Eligible Foreign Subsidiary shall relocate any tangible item of Collateral with an aggregate value in excess of
$250,000 (other than (x) sales of Inventory in the ordinary course of business, (y) relocations of mobile Equipment in the possession of its employees or agents, and (z) relocations of Collateral from a location described on Exhibit B
to another location described on Exhibit B) unless (i) it has provided prompt written notice to Agent, (ii) such relocation is within the continental United States of America and, (iii) if such relocation is to a third party bailee,
it has delivered a bailee agreement in form and substance reasonably acceptable to Agent. 
 7.12 Deposit Accounts. Neither
Borrower nor any Qualified Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property, except, in each case, with respect to which Agent has an Account Control Agreement; provided that no Account Control Agreement is
required for any of the existing restricted accounts listed in Schedule 7.12. Notwithstanding the foregoing, on and prior to December 31, 2019, Borrower may maintain up to $1,000,000 in its account with Pacific Western Bank, account number
ending in 643. 
 7.13 Borrower shall notify Agent of each Subsidiary formed subsequent to the Closing Date and, within 20
days of formation, shall cause any such Subsidiary (except for an Excluded Subsidiary) to execute and deliver to Agent a Joinder Agreement, provided that, with respect to any Subsidiary that is an Excluded Subsidiary at such time, immediately upon
any change in applicable tax laws that would result in such Subsidiary ceasing to be an Excluded Subsidiary, Borrower shall cause such Subsidiary to execute and deliver to Agent a Joinder Agreement. 

7.14 MSC Investment Conditions. At any time that the MSC Subsidiary has any assets or liabilities, Borrower shall satisfy the
MSC Investment Conditions at all times. 
 7.15 Notification of Event of Default. Borrower shall notify Agent promptly and in
any case within three (3) Business Days of Borrower obtaining knowledge of the occurrence of any Event of Default. 

7.16 Post-Close Obligations. Notwithstanding any provision herein or in any other Loan Document to the contrary, to the extent
not actually delivered on or prior to the Closing Date, Borrower shall deliver to Agent (or its designated agent): 

  
 29 

 (a) On or before December 31, 2019, evidence satisfactory to Agent that
Borrower has less than $15,000 in deposit in its account held at Pacific Western Bank, account number ending in 643, for outstanding checks. Borrower shall not deposit any additional funds or issue additional checks related to such account. Borrower
shall close such account when all currently outstanding checks are paid. 
 (b) Within thirty (30) days after the
Closing Date, Borrower shall deliver to Agent appropriate endorsements evidencing lender loss payable, additional insured, and notice of cancellation endorsements in favor of Agent with respect to all insurance policies required by Section 6.2
hereof. 
 7.17 Use of Proceeds. Borrower agrees that the proceeds of the Loans shall be used solely to refinance existing
indebtedness, to pay related fees and expenses in connection with this Agreement and for working capital and general corporate purposes. The proceeds of the Loans Credit will not be used in violation of Anti-Corruption Laws or applicable Sanctions.

 7.18 Certain Subsidiary Voting Rights. Borrower shall not, and shall not permit any Subsidiary, to amend or modify any
governing document of any Excluded Subsidiary of that is a CFC or CFC Holdco the effect of which is to require a vote of greater than 50.1% of the Equity Interests or voting rights of such Subsidiary for any decision or action of such Subsidiary,
other than with Agent’s written consent. 
 7.19 Compliance with Laws. 

Borrower shall maintain, and shall cause its Subsidiaries to maintain, compliance in all material respects with all applicable
laws, rules or regulations (including any law, rule or regulation with respect to the making or brokering of loans or financial accommodations), and shall, or cause its Subsidiaries to, obtain and maintain all required governmental authorizations,
approvals, licenses, franchises, permits or registrations reasonably necessary in connection with the conduct of Borrower’s business. 

Neither Borrower nor any of its Subsidiaries shall, nor shall Borrower or any of its Subsidiaries permit any Affiliate to,
directly or indirectly, knowingly enter into any documents, instruments, agreements or contracts with any Person listed on the OFAC Lists. Neither Borrower nor any of its Subsidiaries shall, nor shall Borrower or any of its Subsidiaries, permit any
Affiliate to, directly or indirectly, (i) conduct any business or engage in any transaction or dealing with any Blocked Person, including, without limitation, the making or receiving of any contribution of funds, goods or services to or for the
benefit of any Blocked Person, (ii) deal in, or otherwise engage in any transaction relating to, any property or interests in property blocked pursuant to Executive Order No. 13224 or any similar executive order or other Anti-Terrorism Law, or (iii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in
Executive Order No. 13224 or other Anti-Terrorism Law. 
 Borrower has
implemented and maintains in effect policies and procedures designed to ensure compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and
Borrower, its Subsidiaries and their respective officers and employees and to the knowledge of Borrower its directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. 

  
 30 

 None of Borrower, any of its Subsidiaries or any of their respective
directors, officers or employees, or to the knowledge of Borrower, any agent for Borrower or its Subsidiaries that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person. No Loan,
use of proceeds or other transaction contemplated by this Agreement will violate Anti-Corruption Laws or applicable Sanctions. 

7.20 Financial Covenant (Minimum Cash). 

(a) In the event Borrower fails to achieve Performance Milestone I on or before June 30, 2020, beginning on July 1,
2020, Borrower shall, at all times, maintain Qualified Cash in an amount greater than or equal to the greater of (i) Fifteen Million Dollars ($15,000,000) plus the Qualified Cash A/P Amount and (ii) the amount of Qualified Cash
required to be maintained pursuant to Section 7.20(b) or (c), as applicable. 
 (b) In the event (x) Borrower fails
to achieve Performance Milestone II on or before November 15, 2020, (y) [***] or (z) [***], effective immediately on the earliest such date, Borrower shall, at all times maintain Qualified Cash in an amount greater than or equal to the
greater of (i) the then-outstanding Secured Obligations plus the Qualified Cash A/P Amount and (ii) the amount of Qualified Cash required to be maintained pursuant to Section 7.20(a) or (c), as applicable. 

(c) In the event Borrower achieves both Performance Milestone I and Performance Milestone II on or before June 30, 2020
and November 15, 2020, respectively, and has drawn both the Tranche 1 Advance and the Tranche 2 Advance, beginning on July 1, 2021, Borrower shall at all times maintain Qualified Cash in an amount greater than or equal to the sum of Seven
Million Five Hundred Thousand Dollars ($7,500,000) plus the Qualified Cash A/P Amount. 
 Notwithstanding the foregoing, Borrower
shall not be subject to requirements set forth in this Section 7.20 during any time (i) [***] and (ii) [***]. 
 Borrower
shall provide Agent evidence of compliance with this Section 7.20 in each Compliance Certificate and upon request in form and substance reasonably acceptable to Agent, along with supporting documentation reasonably requested by Agent. 

7.21 Transactions with Affiliates. Borrower shall not and shall not permit any Subsidiary to, directly or indirectly, enter
into or permit to exist any transaction of any kind with any Affiliate of Borrower or such Subsidiary on terms that are less favorable to Borrower or such Subsidiary, as the case may be, than those that might be obtained in an arm’s length
transaction from a Person who is not an Affiliate of Borrower or such Subsidiary. 

  
 31 

 SECTION 8. RIGHT TO INVEST 

8.1 The Lenders or their assignee or nominee shall have the right, in its discretion, to participate in any Subsequent
Financing in an amount of up to $2,000,000 on the same terms, conditions and pricing afforded to other investors participating in such Subsequent Financing. 

SECTION 9. EVENTS OF DEFAULT 

The occurrence of any one or more of the following events shall be an Event of Default: 

9.1 Payments. Borrower fails to pay (i) any scheduled payment of principal or interest due under this Agreement or any of
the other Loan Documents on the due date or (ii) any other payment due on the Secured Obligations hereunder within three (3) Business Days; provided, however, that an Event of Default shall not occur on account of a failure to pay due
solely to an administrative or operational error of Agent or the Lenders or Borrower’s bank if Borrower had the funds to make the payment when due and makes the payment within three (3) Business Days following Borrower’s knowledge of
such failure to pay; or 
 9.2 Covenants. Borrower breaches or defaults in the performance of any covenant or Secured
Obligation under this Agreement, or any of the other Loan Documents or any other agreement among Borrower, Agent and the Lenders, and (a) with respect to a default under any covenant under this Agreement (other than under Sections 6, 7.4, 7.5,
7.6, 7.7, 7.8, 7.9, 7.14, 7.15, 7.16, 7.17, 7.18, 7.19, 7.20 and 7.21), any other Loan Document, or any other agreement among Borrower, Agent and the Lenders, such default continues for more than ten (10) days after the earlier of the date on
which (i) Agent or the Lenders has given notice of such default to Borrower and (ii) Borrower has actual knowledge of such default or (b) with respect to a default under any of Sections 6, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9, 7.14, 7.15,
7.16, 7.17, 7.18, 7.19, 7.20 and 7.21, the occurrence of such default; or 
 9.3 Material Adverse Effect. A circumstance has
occurred that could reasonably be expected to have a Material Adverse Effect, provided that solely for purposes of this Section 9.3, the occurrence of any of the following, in and of itself, shall not constitute a Material Adverse Effect:
(a) adverse results or delays in any nonclinical or clinical trial or (b) the denial, delay or limitation of approval of, or taking of any other regulatory action by, the FDA; provided that, in determining whether a Material Adverse Effect
has occurred, Agent’s primary, though not sole, consideration will be whether Borrower has or will have sufficient cash resources to repay the Secured Obligations as and when due and the clear intention of Borrower’s investors to continue
to fund Borrower in the amounts and timeframe necessary, in Agent’s good faith judgment, to enable Borrower to satisfy the Secured Obligations as they become due and payable is the most significant criterion Agent shall consider in making any
such determination. 
 9.4 Representations. Any representation or warranty made by Borrower in any Loan Document shall have
been false or misleading in any material respect when made or when deemed made; or 
 9.5 Insolvency. Borrower (A)
(i) shall make an assignment for the benefit of creditors; or (ii) shall be unable to pay its debts as they become due in the ordinary course of business, or be unable to pay or perform under the Loan Documents, or shall become insolvent;
or (iii) shall file a voluntary petition in bankruptcy; or (iv) shall file any petition, answer, or document seeking for itself any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under
any present or future statute, law or regulation pertinent to such circumstances except as permitted under Section 7.10 of this Agreement; or (v) shall seek or consent to or acquiesce in the appointment of any trustee, receiver, or
liquidator of 

  
 32 

 
Borrower or of all or any substantial part (i.e., 33-1/3% or more) of the assets or property of Borrower; or (vi) shall cease operations of its
business as its business has normally been conducted, or terminate substantially all of its employees; or (vii) Borrower or its directors or majority shareholders shall take any action initiating any of the foregoing actions described in
clauses (i) through (vi); or (B) either (i) forty-five (45) days shall have expired after the commencement of an involuntary action against Borrower seeking reorganization, arrangement, composition, readjustment, liquidation,
dissolution or similar relief under any present or future statute, law or regulation, without such action being dismissed or all orders or proceedings thereunder affecting the operations or the business of Borrower being stayed; or (ii) a stay
of any such order or proceedings shall thereafter be set aside and the action setting it aside shall not be timely appealed; or (iii) Borrower shall file any answer admitting or not contesting the material allegations of a petition filed
against Borrower in any such proceedings; or (iv) the court in which such proceedings are pending shall enter a decree or order granting the relief sought in any such proceedings; or (v) forty-five (45) days shall have expired after
the appointment, without the consent or acquiescence of Borrower, of any trustee, receiver or liquidator of Borrower or of all or any substantial part of the properties of Borrower without such appointment being vacated; or 

9.6 Attachments; Judgments. Any portion of Borrower’s assets in an amount greater than $250,000 is attached or seized, or
a levy is filed against any such assets that is not removed, rescinded or dismissed within thirty (30) days, or a judgment or judgments is/are entered for the payment of money (not covered by independent third party insurance as to which
liability has not been rejected by such insurance carrier), individually or in the aggregate, of at least $250,000, or Borrower is enjoined or in any way prevented by court order from conducting any part of its business; or 

9.7 Other Obligations. The occurrence of any default (beyond any applicable grace or cure periods) under any agreement or
obligation of Borrower giving rise to the ability by the counterparty to accelerate any Indebtedness in excess of $250,000. 

9.8 Stop Trade. At any time, an SEC stop trade order or NASDAQ market trading suspension of the Common Stock shall be in effect
for five (5) consecutive days or five (5) days during a period of ten (10) consecutive days, excluding in all cases a suspension of all trading on a public market, provided that Borrower shall not have been able to cure such trading
suspension within thirty (30) days of the notice thereof or list the Common Stock on another public market within sixty (60) days of such notice. 

SECTION 10. REMEDIES 

10.1 General. Upon and during the continuance of any one or more Events of Default, (i) Agent may, and at the direction
of the Required Lenders shall, accelerate and demand payment of all or any part of the outstanding Secured Obligations together with the applicable Prepayment Charge and declare them to be immediately due and payable (provided, that upon the
occurrence and during the continuance of an Event of Default of the type described in Section 9.5, all of the outstanding Secured Obligations (including, without limitation, the Prepayment Charge and the End of Term Charge) shall automatically
be accelerated and made due and payable, in each case without any further notice or act). Borrower hereby irrevocably appoints Agent as its lawful attorney-in-fact
exercisable following the occurrence and during the continuance of an Event of Default, (a) sign Borrower’s name on any invoice or bill of lading for any account or drafts against account debtors; (b) demand, collect, sue, and give
releases to any account debtor for monies due, settle and adjust disputes and claims about the accounts directly with account debtors, and 

  
 33 

 
compromise, prosecute, or defend any action, claim, case, or proceeding about any Collateral (including filing a claim or voting a claim in any bankruptcy case in Agent’s or Borrower’s
name, as Agent may elect); (c) make, settle, and adjust all claims under Borrower’s insurance policies; (d) pay, contest or settle any Lien, charge, encumbrance, security interest, or other claim in or to the Collateral, or any judgment
based thereon, or otherwise take any action to terminate or discharge the same; (e) transfer the Collateral into the name of Agent or a third party as the UCC permits; (f) receive, open and dispose of mail addressed to Borrower;
(g) endorse Borrower’s name on any checks, payment instruments, or other forms of payment or security; and (h) notify all account debtors to pay Agent directly. Borrower hereby appoints Agent as its lawful attorney-in-fact to sign Borrower’s name on any documents necessary to perfect or continue the perfection of Agent’s security interest in the Collateral regardless
of whether an Event of Default has occurred until all outstanding Secured Obligations have been satisfied in full and the Loan Documents have been terminated. Agent’s foregoing appointment as Borrower’s attorney in fact, and all of
Agent’s rights and powers, coupled with an interest, are irrevocable until all Secured Obligations have been fully repaid and performed and the Loan Documents have been terminated. Agent may, and at the direction of the Required Lenders shall,
exercise all rights and remedies with respect to the Collateral under the Loan Documents or otherwise available to it under the UCC and other applicable law, including the right to release, hold, sell, lease, liquidate, collect, realize upon, or
otherwise dispose of all or any part of the Collateral and the right to occupy, utilize, process and commingle the Collateral. All Agent’s rights and remedies shall be cumulative and not exclusive. 

10.2 Collection; Foreclosure. Upon the occurrence and during the continuance of any Event of Default, Agent may, and at the
direction of the Required Lenders shall, at any time or from time to time, apply, collect, liquidate, sell in one or more sales, lease or otherwise dispose of, any or all of the Collateral, in its then condition or following any commercially
reasonable preparation or processing, in such order as Agent may elect. Any such sale may be made either at public or private sale at its place of business or elsewhere. Borrower agrees that any such public or private sale may occur upon ten
(10) calendar days’ prior written notice to Borrower. Agent may require Borrower to assemble the Collateral and make it available to Agent at a place designated by Agent that is reasonably convenient to Agent and Borrower. The proceeds of
any sale, disposition or other realization upon all or any part of the Collateral shall be applied by Agent in the following order of priorities: 

First, to Agent and the Lenders in an amount sufficient to pay in full Agent’s and the Lenders’ reasonable and documented out-of-pocket costs and professionals’ and advisors’ fees and expenses as described in Section 11.12; 

Second, to the Lenders in an amount equal to the then unpaid amount of the Secured Obligations (including principal, interest, and the default
rate interest pursuant to Section 2.4), in such order and priority as Agent may choose in its sole discretion; and 
 Finally, after the
full and final payment in Cash of all of the Secured Obligations (other than inchoate obligations), to any creditor holding a junior Lien on the Collateral, or to Borrower or its representatives or as a court of competent jurisdiction may direct.

 Agent shall be deemed to have acted reasonably in the custody, preservation and disposition of any of the Collateral if it complies with the obligations
of a secured party under the UCC. 
 10.3 No Waiver. Agent shall be under no obligation to marshal any of the Collateral for
the benefit of Borrower or any other Person, and Borrower expressly waives all rights, if any, to require Agent to marshal any Collateral. 

  
 34 

 10.4 Cumulative Remedies. The rights, powers and remedies of Agent hereunder
shall be in addition to all rights, powers and remedies given by statute or rule of law and are cumulative. The exercise of any one or more of the rights, powers and remedies provided herein shall not be construed as a waiver of or election of
remedies with respect to any other rights, powers and remedies of Agent. 
 SECTION 11. MISCELLANEOUS 

11.1 Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under such law, such provision shall be ineffective only to the extent and duration of such prohibition or invalidity, without invalidating the
remainder of such provision or the remaining provisions of this Agreement. 
 11.2 Notice. Except as otherwise provided
herein, any notice, demand, request, consent, approval, declaration, service of process or other communication (including the delivery of Financial Statements) that is required, contemplated, or permitted under the Loan Documents or with respect to
the subject matter hereof shall be in writing, and shall be deemed to have been validly served, given, delivered, and received upon the earlier of: (i) the day of transmission by electronic mail or hand delivery or delivery by an overnight
express service or overnight mail delivery service; or (ii) the third calendar day after deposit in the United States of America mails, with proper first class postage prepaid, in each case addressed to the party to be notified as follows: 

 

	 	(a)	 If to Agent: 

HERCULES CAPITAL, INC. 
 Legal
Department 
 Attention: Chief Legal Officer and Janice Bourque 

400 Hamilton Avenue, Suite 310 

Palo Alto, CA 94301 
 email:
legal@htgc.com and jbourque@htgc.com 
 Telephone:
650-289-3060 
  

	 	(b)	 If to the Lenders: 

HERCULES CAPITAL, INC. 
 Legal
Department 
 Attention: Chief Legal Officer and Janice Bourque 

400 Hamilton Avenue, Suite 310 

Palo Alto, CA 94301 
 email:
legal@htgc.com and jbourque@htgc.com 
 Telephone:
650-289-3060 
  

	 	(c)	 If to Borrower: 

KALEIDO BIOSCIENCES, INC. 

Attention: Jerald Korn, General Counsel 

65 Hayden Avenue 

  
 35 

 Lexington, MA 02421 

email: jerald.korn@kaleido.com 

Telephone: 617-890-5735 

with a copy (which shall not constitute notice) to: 

GOODWIN PROCTER LLP 
 100
Northern Avenue 
 Boston, MA 02210 

Attention: Mark D. Smith 

Telephone: 617-570-1750 

email: marksmith@goodwinprocter.com 

or to such other address as each party may designate for itself by like notice. 

11.3 Entire Agreement; Amendments. 

(a) This Agreement and the other Loan Documents constitute the entire agreement and understanding of the parties hereto in
respect of the subject matter hereof and thereof, and supersede and replace in their entirety any prior proposals, term sheets, non-disclosure or confidentiality agreements, letters, negotiations or other
documents or agreements, whether written or oral, with respect to the subject matter hereof or thereof (including Agent’s revised proposal letter dated November 22, 2019 and the Non-Disclosure
Agreement). 
 (b) Neither this Agreement, any other Loan Document, nor any terms hereof or thereof may be amended,
supplemented or modified except in accordance with the provisions of this Section 11.3(b). The Required Lenders and Borrower party to the relevant Loan Document may, or, with the written consent of the Required Lenders, the Agent and the
Borrower party to the relevant Loan Document may, from time to time, (i) enter into written amendments, supplements or modifications hereto and to the other Loan Documents for the purpose of adding any provisions to this Agreement or the other
Loan Documents or changing in any manner the rights of the Lenders or of the Borrower hereunder or thereunder or (ii) waive, on such terms and conditions as the Required Lenders or the Agent, as the case may be, may specify in such instrument,
any of the requirements of this Agreement or the other Loan Documents or any default or Event of Default and its consequences; provided, however, that no such waiver and no such amendment, supplement or modification shall (A) forgive the
principal amount or extend the final scheduled date of maturity of any Loan, extend the scheduled date of any amortization payment in respect of any Term Loan, reduce the stated rate of any interest or fee payable hereunder or extend the scheduled
date of any payment thereof, in each case without the written consent of each Lender directly affected thereby; (B) eliminate or reduce the voting rights of any Lender under this Section 11.3(b) without the written consent of such Lender;
(C) reduce any percentage specified in the definition of Required Lenders, consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement and the other Loan Documents, release all or
substantially all of the Collateral or release a Borrower from its obligations under the Loan Documents, in each case without the written consent of all Lenders; or (D) amend, modify or waive any provision of Section 11.18 or Addendum 3
without the written consent of the Agent. Any such waiver and any such amendment, supplement or modification shall apply equally to each Lender and shall be binding upon Borrower, the Lender, the Agent and all future holders of the Loans. 

  
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 11.4 No Strict Construction. The parties hereto have participated jointly in
the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise
favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement. 
 11.5 No Waiver. The
powers conferred upon Agent and the Lenders by this Agreement are solely to protect its rights hereunder and under the other Loan Documents and its interest in the Collateral and shall not impose any duty upon Agent or the Lenders to exercise any
such powers. No omission or delay by Agent or the Lenders at any time to enforce any right or remedy reserved to it, or to require performance of any of the terms, covenants or provisions hereof by Borrower at any time designated, shall be a waiver
of any such right or remedy to which Agent or the Lenders is entitled, nor shall it in any way affect the right of Agent or the Lenders to enforce such provisions thereafter. 

11.6 Survival. All agreements, representations and warranties contained in this Agreement and the other Loan Documents or in
any document delivered pursuant hereto or thereto shall be for the benefit of Agent and the Lenders and shall survive the execution and delivery of this Agreement for so long as any Secured Obligations (other than contingent obligations for which no
claim has been asserted) remain outstanding. Sections 6.3, 11.14, 11.15 and 11.17 shall survive the termination of this Agreement. 

11.7 Successors and Assigns. The provisions of this Agreement and the other Loan Documents shall inure to the benefit of and be
binding on Borrower and its permitted assigns (if any). Borrower shall not assign its obligations under this Agreement or any of the other Loan Documents without Agent’s express prior written consent, and any such attempted assignment shall be
void and of no effect. Agent and the Lenders may assign, transfer, or endorse its rights hereunder and under the other Loan Documents without prior notice to Borrower, and all of such rights shall inure to the benefit of Agent’s and the
Lenders’ successors and assigns; provided that as long as no Event of Default has occurred and is continuing, neither Agent nor any Lender may assign, transfer or endorse its rights hereunder or under the Loan Documents to any party that is a
direct competitor of Borrower (as reasonably determined by Borrower), a vulture hedge fund or any other party designated by Borrower in writing on or prior to the Closing Date, it being acknowledged that in all cases, any transfer to an Affiliate of
any Lender or Agent shall be allowed. Agent will make reasonable efforts to provide Borrower with notice of any assignment, transfer or endorsement at the time it is made or within a reasonable time thereafter other than any transfers to an
Affiliate of any Lender or Agent. Notwithstanding the foregoing, (x) in connection with any assignment by a Lender as a result of a forced divestiture at the request of any regulatory agency, the restrictions set forth herein shall not apply
and Agent and the Lenders may assign, transfer or indorse its rights hereunder and under the other Loan Documents to any Person or party and (y) in connection with a Lender’s own financing or securitization transactions, the restrictions
set forth herein shall not apply and Agent and the Lenders may assign, transfer or indorse its rights hereunder and under the other Loan Documents to any Person or party providing such financing or formed to undertake such securitization transaction
and any transferee of such Person or party upon the occurrence of a default, event of default or similar occurrence with respect to such financing or securitization transaction; provided that no such sale, transfer, pledge or assignment under this
clause (y) shall release such Lender from any of its obligations hereunder or substitute any such Person or party for such Lender as a party hereto until Agent shall have received and accepted an effective assignment agreement from such Person
or party in form satisfactory to Agent executed, delivered and fully completed by the applicable parties thereto, and shall have received such other information regarding such assignee as Agent reasonably shall require. The Agent, acting solely for
this purpose as an agent of the Borrower, shall maintain at one of its 

  
 37 

 
offices in the United States a register for the recordation of the names and addresses of the Lender(s), and the Term Commitments of, and principal amounts (and stated interest) of the Loans
owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Agent and the Lender(s) shall treat each Person whose name
is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon
reasonable prior notice. 
 11.8 Participations. Each Lender that sells a participation shall, acting solely for this purpose
as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each participant and the principal amounts (and stated interest) of each participant’s interest in
the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any participant
or any information relating to a participant’s interest in any commitments, loans, its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan,
letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest
error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Agent
(in its capacity as Agent) shall have no responsibility for maintaining a Participant Register. Borrower agrees that each participant shall be entitled to the benefits of the provisions in Addendum 1 attached hereto (subject to the requirements and
limitations therein, including the requirements under Section 7 of Addendum 1 attached hereto (it being understood that the documentation required under Section 7 of Addendum 1 attached hereto shall be delivered to the participating
Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 11.7; provided that such participant shall not be entitled to receive any greater payment under Addendum 1 attached hereto, with
respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a change in law that occurs after the participant acquired the
applicable participation. 
 11.9 Governing Law. This Agreement and the other Loan Documents have been negotiated and
delivered to Agent and the Lenders in the State of California, and shall have been accepted by Agent and the Lenders in the State of California. Payment to Agent and the Lenders by Borrower of the Secured Obligations is due in the State of
California. This Agreement and the other Loan Documents shall be governed by, and construed and enforced in accordance with, the laws of the State of California, excluding conflict of laws principles that would cause the application of laws of any
other jurisdiction. 
 11.10 Consent to Jurisdiction and Venue. All judicial proceedings (to the extent that the reference
requirement of Section 11.11 is not applicable) arising in or under or related to this Agreement or any of the other Loan Documents may be brought in any state or federal court located in the State of California. By execution and delivery of
this Agreement, each party hereto generally and unconditionally: (a) consents to nonexclusive personal jurisdiction in Santa Clara County, State of California; (b) waives any objection as to jurisdiction or venue in Santa Clara County,
State of California; (c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement or the
other Loan Documents. Service of process on 

  
 38 

 
any party hereto in any action arising out of or relating to this Agreement shall be effective if given in accordance with the requirements for notice set forth in Section 11.2, and shall be
deemed effective and received as set forth in Section 11.2. Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other
jurisdiction. 
 11.11 Mutual Waiver of Jury Trial / Judicial Reference. 

(a) Because disputes arising in connection with complex financial transactions are most quickly and economically resolved by an
experienced and expert Person and the parties wish applicable state and federal laws to apply (rather than arbitration rules), the parties desire that their disputes be resolved by a judge applying such applicable laws. EACH OF BORROWER, AGENT AND
THE LENDERS SPECIFICALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY BORROWER AGAINST AGENT, THE LENDERS
OR THEIR RESPECTIVE ASSIGNEE OR BY AGENT, THE LENDERS OR THEIR RESPECTIVE ASSIGNEE AGAINST BORROWER. This waiver extends to all such Claims without limitation and any Claims for damages, breach of contract, tort, specific performance, or any
equitable or legal relief of any kind, arising out of this Agreement, or any other Loan Document (other than to the extent arising from Agent or any Lender’s gross negligence or willful misconduct). 

(b) If the waiver of jury trial set forth in Section 11.11(a) is ineffective or unenforceable, the parties agree that all
Claims shall be resolved by reference to a private judge sitting without a jury, pursuant to Code of Civil Procedure Section 638, before a mutually acceptable referee or, if the parties cannot agree, a referee selected by the Presiding Judge of
the Santa Clara County, California. Such proceeding shall be conducted in Santa Clara County, California, with California rules of evidence and discovery applicable to such proceeding. 

(c) In the event Claims are to be resolved by judicial reference, either party may seek from a court identified in
Section 11.10, any prejudgment order, writ or other relief and have such prejudgment order, writ or other relief enforced to the fullest extent permitted by law notwithstanding that all Claims are otherwise subject to resolution by judicial
reference. 
 11.12 Professional Fees. Borrower promises to pay Agent’s and the Lenders’ fees and reasonable and
documented out-of-pocket expenses necessary to finalize the loan documentation, including but not limited to reasonable and documented out-of-pocket attorneys’ fees, UCC searches, filing costs, and other miscellaneous expenses. In addition, Borrower promises to pay any and all reasonable and documented out-of-pocket attorneys’ and other professionals’ fees and expenses incurred by Agent and the Lenders after the Closing Date in connection with or related to: (a) the Loan; (b) the
administration, collection, or enforcement of the Loan; (c) the amendment or modification of the Loan Documents; (d) any waiver, consent, release, or termination under the Loan Documents; (e) the protection, preservation, audit, field
exam, sale, lease, liquidation, or disposition of Collateral or the exercise of remedies with respect to the Collateral; (f) any legal, litigation, administrative, arbitration, or out of court proceeding in connection with or related to
Borrower or the Collateral, and any appeal or review thereof; and (g) any bankruptcy, restructuring, reorganization, assignment for the benefit of creditors, workout, foreclosure, or other action related to Borrower, the Collateral, the Loan
Documents, including representing Agent or the Lenders in any adversary proceeding or contested matter commenced or continued by or on behalf of Borrower’s estate, and any appeal or review thereof. 

  
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 11.13 Confidentiality. Agent and the Lenders acknowledge that certain items
of Collateral and information provided to Agent and the Lenders by Borrower are confidential and proprietary information of Borrower, if and to the extent such information either (x) is marked as confidential by Borrower at the time of
disclosure, or (y) should reasonably be understood to be confidential (the “Confidential Information”). Accordingly, Agent and the Lenders agree that any Confidential Information it may obtain in the course of acquiring,
administering, or perfecting Agent’s security interest in the Collateral shall not be disclosed to any other Person or entity in any manner whatsoever, in whole or in part, without the prior written consent of Borrower, except that Agent and
the Lenders may disclose any such information: (a) to its Affiliates and its partners, investors, lenders, directors, officers, employees, agents, advisors, counsel, accountants, counsel, representative and other professional advisors if Agent
or the Lenders in their reasonable good-faith discretion determines that any such party should have access to such information in connection with such party’s responsibilities in connection with the Loan or this Agreement and, provided that
such recipient of such Confidential Information either (i) agrees to be bound by the confidentiality provisions of this paragraph or (ii) is otherwise subject to confidentiality restrictions that reasonably protect against the disclosure
of Confidential Information which are no less restrictive than the terms of this Section 11.13; (b) if such information is generally available to the public or to the extent such information becomes publicly available other than as a
result of a breach of this Section or becomes available to Agent or any Lender, or any of their respective Affiliates on a non-confidential basis from a source other than the Borrower; (c) if required in
any report, statement or testimony to be submitted to any governmental authority having or claiming to have jurisdiction over Agent or the Lenders and any rating agency; (d) if required or appropriate in response to any summons or subpoena or
in connection with any litigation, to the extent permitted or deemed advisable by Agent’s or the Lenders’ counsel; (e) to comply with any legal requirement or law applicable to Agent or the Lenders or demanded by any governmental
authority; (f) to the extent reasonably necessary in connection with the exercise of, or preparing to exercise, or the enforcement of, or preparing to enforce, any right or remedy under any Loan Document (including Agent’s sale, lease, or
other disposition of Collateral during the continuance of an Event of Default), or any action or proceeding relating to any Loan Document; (g) to any participant or assignee of Agent or the Lenders or any prospective participant or assignee,
provided, that such participant or assignee or prospective participant or assignee agrees in writing to be bound by confidentiality restrictions similar to those under this Section 11.13; (h) otherwise to the extent consisting of general
portfolio information that does not identify Borrower; or (i) otherwise with the prior written consent of Borrower; provided, that any disclosure made in violation of this Agreement shall not affect the obligations of Borrower or any of its
Affiliates or any guarantor under this Agreement or the other Loan Documents. Agent’s and the Lenders’ obligations under this Section 11.13 shall supersede all of their respective obligations under the
Non-Disclosure Agreement. 
 11.14 Assignment of Rights. Borrower acknowledges and
understands that Agent or the Lenders may, subject to Section 11.7, sell and assign all or part of its interest hereunder and under the Loan Documents to any Person or entity (an “Assignee”). After such assignment the term
“Agent” or “Lender” as used in the Loan Documents shall mean and include such Assignee, and such Assignee shall be vested with all rights, powers and remedies of Agent and the Lenders hereunder with respect to the interest so
assigned; but with respect to any such interest not so transferred, Agent and the Lenders shall retain all rights, powers and remedies hereby given. No such assignment by Agent or the Lenders shall relieve Borrower of any of its obligations
hereunder. the Lenders agrees that in the event of any transfer by it of the promissory note(s) (if any), it will endorse thereon a notation as to the portion of the principal of the promissory note(s), which shall have been paid at the time of such
transfer and as to the date to which interest shall have been last paid thereon. 

  
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 11.15 Revival of Secured Obligations. This Agreement and the Loan Documents
shall remain in full force and effect and continue to be effective if any petition is filed by or against Borrower for liquidation or reorganization, if Borrower becomes insolvent or makes an assignment for the benefit of creditors, if a receiver or
trustee is appointed for all or any significant part of Borrower’s assets, or if any payment or transfer of Collateral is recovered from Agent or the Lenders. The Loan Documents and the Secured Obligations and Collateral security shall continue
to be effective, or shall be revived or reinstated, as the case may be, if at any time payment and performance of the Secured Obligations or any transfer of Collateral to Agent, or any part thereof is rescinded, avoided or avoidable, reduced in
amount, or must otherwise be restored or returned by, or is recovered from, Agent, the Lenders or by any obligee of the Secured Obligations, whether as a “voidable preference,” “fraudulent conveyance,” or otherwise, all as though
such payment, performance, or transfer of Collateral had not been made. In the event that any payment, or any part thereof, is rescinded, reduced, avoided, avoidable, restored, returned, or recovered, the Loan Documents and the Secured Obligations
shall be deemed, without any further action or documentation, to have been revived and reinstated until the Secured Obligations (other than contingent obligations for which no claim has been asserted) are fully satisfied. 

11.16 Counterparts. This Agreement and any amendments, waivers, consents or supplements hereto may be executed in any number of
counterparts, and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall constitute but one and the same instrument. Delivery of an executed counterpart
signature page of this Agreement by telecopier or other electronic means shall be effective as delivery of a manually executed counterpart of this Agreement. 

11.17 No Third Party Beneficiaries. No provisions of the Loan Documents are intended, nor will be interpreted, to provide or
create any third-party beneficiary rights or any other rights of any kind in any Person other than Agent, the Lenders and Borrower unless specifically provided otherwise herein, and, except as otherwise so provided, all provisions of the Loan
Documents will be personal and solely among Agent, the Lenders and the Borrower. 
 11.18 Agency. Agent and each Lender
hereby agree to the terms and conditions set forth on Addendum 3 attached hereto. Borrower acknowledges and agrees to the terms and conditions set forth on Addendum 3 attached hereto. 

11.19 Publicity. None of the parties hereto nor any of its respective member businesses and Affiliates shall, without the other
parties’ prior written consent, publicize or use (a) the other party’s name (including a brief description of the relationship among the parties hereto), logo or hyperlink to such other parties’ web site, separately or together,
in written and oral presentations, advertising, promotional and marketing materials, client lists, public relations materials or on its web site (together, the “Publicity Materials”); (b) the names of officers of such other parties in the
Publicity Materials; and (c) such other parties’ name, trademarks, service marks in any news or press release concerning such party; provided however, notwithstanding anything to the contrary herein, no such consent shall be required
(i) to the extent necessary to comply with the requests of any regulators, legal requirements or laws applicable to such party, pursuant to any listing agreement with any national securities exchange (so long as such party provides prior notice
to the other party hereto to the extent reasonably practicable) and (ii) to comply with Section 11.13. 

  
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 11.20 Multiple Borrowers. Each Borrower hereby agrees to the terms and
conditions set forth on Addendum 4 attached hereto. 
 (SIGNATURES TO FOLLOW) 

  
 42 

 IN WITNESS WHEREOF, Borrower, Agent and the Lenders have duly executed and delivered this
Loan and Security Agreement as of the day and year first above written. 
  

			
	BORROWER:
	
	KALEIDO BIOSCIENCES, INC.
		
	Signature:	 	/s/ Alison Lawton
	Print Name:	 	Alison Lawton
	Title:	 	President & Chief Executive Officer
	
	CADENA BIO, INC.
		
	Signature:	 	/s/ Alison Lawton
	Print Name:	 	Alison Lawton
	Title:	 	President

 (SIGNATURES CONTINUE ON THE FOLLOWING PAGE) 

  
 43 

 Accepted in Palo Alto, California: 

 

			
	AGENT:	 	
	
	HERCULES CAPITAL, INC.
		
	Signature:	 	/s/ Jennifer Choe
		
	Print Name:	 	Jennifer Choe
		
	Title:	 	Assistant General Counsel
		
	LENDERS:	 	
	
	HERCULES CAPITAL, INC.
		
	Signature:	 	/s/ Jennifer Choe
		
	Print Name:	 	Jennifer Choe
		
	Title:	 	Assistant General Counsel

  
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 Table of Addenda, Exhibits and Schedules 

 

			
	Addendum 1:	  	Taxes; Increased Costs
		
	Addendum 2:	  	[Reserved]
		
	Addendum 3:	  	Agent and Lender Terms
		
	Addendum 4:	  	Multiple Borrower Terms
		
	Exhibit A:	  	Advance Request
		
		  	Attachment to Advance Request
		
	Exhibit B:	  	Name, Locations, and Other Information for Borrower
		
	Exhibit C:	  	Borrower’s Patents, Trademarks, Copyrights and Licenses
		
	Exhibit D:	  	Borrower’s Deposit Accounts and Investment Accounts
		
	Exhibit E:	  	Compliance Certificate
		
	Exhibit F:	  	Joinder Agreement
		
	Exhibit G:	  	ACH Debit Authorization Agreement
		
	Exhibit H-1:	  	Form of U.S. Tax Compliance Certificate (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)
		
	Exhibit H-2:	  	Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)
		
	Exhibit H-3:	  	Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)
		
	Exhibit H-4:	  	Form of U.S. Tax Compliance Certificate (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)
		
	Schedule 1.1	  	Commitments
	Schedule 1	  	Subsidiaries
	Schedule 1A	  	Existing Permitted Indebtedness
	Schedule 1B	  	Existing Permitted Investments
	Schedule 1C	  	Existing Permitted Liens
	Schedule 5.3	  	Consents, Etc.
	Schedule 5.8	  	Tax Matters
	Schedule 5.9	  	Intellectual Property Claims
	Schedule 5.10	  	Intellectual Property
	Schedule 5.11	  	Borrower Products
	Schedule 5.14	  	Capitalization
	Schedule 7.12	  	Deposit Accounts

  
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 ADDENDUM 1 to LOAN AND SECURITY AGREEMENT 

TAXES; INCREASED COSTS 
  

	1.	 Defined Terms. For purposes of this Addendum 1: 

 

	 	a.	 “Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net
income (however denominated) or that are franchise Taxes or branch profits Taxes. 

  

	 	b.	 “Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or
required to be withheld or deducted from a payment to a Recipient, (i) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (A) imposed as a result of such Recipient
being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (B) that are Other
Connection Taxes, (ii) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Term Commitment pursuant to a law in effect on
the date on which (A) such Lender acquires such interest in the Loan or Term Commitment (other than pursuant to an assignment request by the Borrower under Section 10 of this Addendum 1) or (B) such Lender changes its lending office,
except in each case to the extent that, pursuant to Section 2 or Section 4 of this Addendum 1, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to
such Lender immediately before it changed its lending office, (iii) Taxes attributable to such Recipient’s failure to comply with Section 7 of this Addendum 1 and (iv) any withholding Taxes imposed under FATCA.

  

	 	c.	 “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any
amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of
the Code, and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among governmental authorities and implementing such Sections of the Code. 

 

	 	d.	 “Foreign Lender” means a Lender that is not a U.S. Person. 

 

	 	e.	 “Indemnified Taxes” means (i) Taxes, other than Excluded Taxes, imposed on or with
respect to any payment made by or on account of any obligation of the Borrower under any Loan Document and (ii) to the extent not otherwise described in clause (i), Other Taxes. 

 

	 	f.	 “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a
present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under,
received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 

  
 46 

	 	g.	 “Other Taxes” means all present or future stamp, court or documentary, intangible, recording,
filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document,
except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 10(b) of this Addendum 1). 

 

	 	h.	 “Recipient” means the Agent or any Lender, as applicable. 

 

	 	i.	 “Withholding Agent” means the Borrower and the Agent. 

 

	2.	 Payments Free of Taxes. Any and all payments by or on account of any obligation of the Borrower under
any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or
withholding of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant governmental
authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the Borrower shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and
withholdings applicable to additional sums payable under this Section 2 or Section 4 of this Addendum 1) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made.

  

	3.	 Payment of Other Taxes by Borrower. The Borrower shall timely pay to the relevant governmental authority
in accordance with applicable law, or at the option of the Agent timely reimburse it for the payment of, any Other Taxes. 

  

	4.	 Indemnification by Borrower. The Borrower shall indemnify each Recipient, within 10 days after demand
therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under Section 2 of this Addendum 1 or this Section 4) payable or paid by such Recipient or
required to be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant
governmental authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender (with a copy to the Agent), or by the Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest
error. In addition, the Borrower agrees to pay, and to save the Agent and any Lender harmless from, any and all liabilities with respect to, or resulting from any delay in paying, any and all excise, sales or other similar taxes (excluding taxes
imposed on or measured by the net income of the Agent or such Lender) that may be payable or determined to be payable with respect to any of the Collateral or this Agreement. 

 

	5.	 Indemnification by the Lenders. Each Lender shall severally indemnify the Agent, within 10 days
after demand therefor, for (a) any Indemnified Taxes attributable to such Lender (but only to the extent that the Borrower has not already indemnified the Agent for such Indemnified Taxes and without limiting the obligation of the Borrower to
do so), (b) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 11.8 of the Agreement relating to the maintenance of a Participant Register and (c) any Excluded Taxes attributable to such Lender,
in each case, that are payable or paid by the Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant
governmental authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Agent to set off and apply any and all amounts at
any time owing to such Lender under any Loan Document or otherwise payable by the Agent to the Lender from any other source against any amount due to the Agent under this Section 5. 

  
 47 

	6.	 Evidence of Payments. As soon as practicable after any payment of Taxes by the Borrower to a
governmental authority pursuant to the provisions of this Addendum 1, the Borrower shall deliver to the Agent the original or a certified copy of a receipt issued by such governmental authority evidencing such payment, a copy of the return reporting
such payment or other evidence of such payment reasonably satisfactory to the Agent. 

  

	7.	 Status of Lenders. 

 

	 	a.	 Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made
under any Loan Document shall deliver to the Borrower and the Agent, at the time or times reasonably requested by the Borrower or the Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Agent as will
permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Agent, shall deliver such other documentation prescribed by applicable law or reasonably
requested by the Borrower or the Agent as will enable the Borrower or the Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding
two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Sections 7(b)(i), 7(b)(ii) and 7(b)(iv) of this Addendum 1) shall not be required if in the Lender’s reasonable judgment
such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 

 

	 	b.	 Without limiting the generality of the foregoing, 

 

	 	i.	 any Lender that is a U.S. Person shall deliver to the Borrower and the Agent on or prior to the date on which
such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Agent), executed copies of IRS Form W-9 certifying that such Lender is
exempt from U.S. federal backup withholding tax; 

  

	 	ii.	 any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Agent
(in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Agent),
whichever of the following is applicable: 

  

	 	A.	 in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a
party (x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or IRS Form
W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with
respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E establishing an exemption
from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 

  
 48 

	 	B.	 executed copies of IRS Form W-8ECI; 

 

	 	C.	 in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under
Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit H-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent
shareholder” of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, or a “controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code (a “U.S. Tax
Compliance Certificate”) and (y) executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E; or 

 

	 	D.	 to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form
W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of Exhibit H-2 or Exhibit H-3, IRS Form W-9, and/or other
certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign
Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit H-4 on behalf of each such direct and indirect partner; 

  

	 	iii.	 any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Agent
(in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Agent),
executed copies of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable
law to permit the Borrower or the Agent to determine the withholding or deduction required to be made; and 

  

	 	iv.	 if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed
by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Agent at
the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such
additional documentation reasonably requested by the Borrower or the Agent as may be necessary for the Borrower and the Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s
obligations under FATCA or to determine the amount, if any, to deduct and withhold from such payment. Solely for purposes of this clause (iv), “FATCA” shall include any amendments made to FATCA after the date of this Agreement.

  
 49 

	 	c.	 Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or
inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Agent in writing of its legal inability to do so. 

 

	8.	 Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith,
that it has received a refund of any Taxes as to which it has been indemnified pursuant to the provisions of this Addendum 1 (including by the payment of additional amounts pursuant to the provisions of this Addendum 1), it shall pay to the
indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under the provisions of this Addendum 1 with respect to the Taxes giving rise to such refund), net of all reasonable and documented out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant governmental authority with respect to
such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this Section 8 (plus any penalties, interest or other charges imposed by the relevant
governmental authority) in the event that such indemnified party is required to repay such refund to such governmental authority. Notwithstanding anything to the contrary in this Section 8, in no event will the indemnified party be required to
pay any amount to an indemnifying party pursuant to this Section 8 the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have
been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This
Section 8 shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person.

  

	9.	 Increased Costs. If any change in applicable law shall subject any Recipient to any Taxes (other than
(A) Indemnified Taxes, (B) Taxes described in clauses (ii) through (iv) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, commitments, or other obligations, or its deposits,
reserves, other liabilities or capital attributable thereto, and the result shall be to increase the cost to such Recipient of making, converting to, continuing or maintaining any Term Loan or of maintaining its obligation to make any such Loan, or
to reduce the amount of any sum received or receivable by such Recipient (whether of principal, interest or any other amount), then, upon the request of such Recipient, the Borrower will pay to such Recipient such additional amount or amounts as
will compensate such Recipient for such additional costs incurred or reduction suffered. 

  

	10.	 Mitigation Obligations; Replacement of Lenders.  

 

	 	a.	 Designation of a Different Lending Office. If any Lender requests compensation under Section 9 of
this Addendum 1, or requires the Borrower to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to this Addendum 1, then such Lender shall (at the request of the
Borrower) use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such
Lender, such designation or assignment (i) would eliminate or reduce amounts payable by Borrower pursuant to this Addendum 1, as the case may be, in the future, and (ii) would not subject such Lender to any unreimbursed cost or expense and
would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 

  
 50 

	 	b.	 Replacement of Lenders. If any Lender requests compensation under Section 9 of this
Addendum 1, or if the Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to this Addendum 1 and, in each case, such Lender has declined or is
unable to designate a different lending office in accordance with paragraph (a) of this Section, or if a Lender is a Non-Consenting Lender, then the Borrower may, at its sole expense and effort, upon
notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to Section 11.7 of the Loan Agreement), all of its interests, rights (other than its existing
rights to payments pursuant to this Addendum 1) and obligations under this Loan Agreement and the related Loan Documents to an Assignee that shall assume such obligations; provided that: 

 

	 	i.	 such Lender shall have received payment of an amount equal to the outstanding principal of its Loans, accrued
interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other
amounts); 

  

	 	ii.	 in the case of any such assignment resulting from a claim for compensation under Section 9 of this
Addendum 1 or payments required to be made pursuant to this Addendum, such assignment will result in a reduction in such compensation or payments thereafter; 

  

	 	iii.	 such assignment does not conflict with applicable law; and 

 

	 	iv.	 in the case of any assignment resulting from a Lender becoming a
Non-Consenting Lender, the applicable assignee shall have consented to the applicable amendment, waiver or consent. 

A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such
Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 
  

	11.	 Survival. Each party’s obligations under the provisions of this Addendum 1 shall survive the
resignation or replacement of the Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Term Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document.

  
 51 

  
 ADDENDUM 2 to LOAN
AND SECURITY AGREEMENT 
 [Reserved] 

  
 ADDENDUM 3 to LOAN
AND SECURITY AGREEMENT 
 Agent and Lender Terms 

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

 (b) Each Lender agrees to indemnify the Agent in its capacity as such (to the extent not reimbursed by Borrower and
without limiting the obligation of Borrower to do so), according to its respective Term Commitment percentages (based upon the total outstanding Term Loan Commitments) in effect on the date on which indemnification is sought under this Addendum 3,
from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time be imposed on, incurred by or asserted against the Agent in
any way relating to or arising out of, this Agreement, any of the other Loan Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by the Agent
under or in connection with any of the foregoing; The agreements in this Section shall survive the payment of the Loans and all other amounts payable hereunder. 

(c) Agent in Its Individual Capacity. The Person serving as the Agent hereunder shall have the same rights and powers in its
capacity as a Lender as any other Lender and may exercise the same as though it were not the Agent and the term “Lender” shall, unless otherwise expressly indicated or unless the context otherwise requires, include each such Person serving
as Agent hereunder in its individual capacity. 
 (d) Exculpatory Provisions. The Agent shall have no duties or obligations
except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Agent shall not: 
  

	 	(i)	 be subject to any fiduciary or other implied duties, regardless of whether any default or any Event of Default
has occurred and is continuing; 

  

	 	(ii)	 have any duty to take any discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated hereby or by the other Loan Documents that the Agent is required to exercise as directed in writing by the Lenders, provided that the Agent shall not be required to take any action that, in its opinion or the
opinion of its counsel, may expose the Agent to liability or that is contrary to any Loan Document or applicable law; and 

  

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

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

(f) The Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the
performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any default or Event of Default, (iv) the validity, enforceability, effectiveness or genuineness of this
Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Section 4 or elsewhere herein, other than to confirm receipt of items expressly required to be
delivered to the Agent. Reliance by Agent. Agent may rely, and shall be fully protected in acting, or refraining to act, upon, any resolution, statement, certificate, instrument, opinion, report, notice, request, consent, order, bond or other paper
or document that it has no reason to believe to be other than genuine and to have been signed or presented by the proper party or parties or, in the case of cables, telecopies and telexes, to have been sent by the proper party or parties. In the
absence of its gross negligence or willful misconduct, Agent may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to Agent and conforming to the
requirements of the Loan Agreement or any of the other Loan Documents. Agent may consult with counsel, and any opinion or legal advice of such counsel shall be full and complete authorization and protection in respect of any action taken, not taken
or suffered by Agent hereunder or under any Loan Documents in accordance therewith. Agent shall have the right at any time to seek instructions concerning the administration of the Collateral from any court of competent jurisdiction. Agent shall not
be under any obligation to exercise any of the rights or powers granted to Agent by this Agreement, the Loan Agreement and the other Loan Documents at the request or direction of the Lenders unless Agent shall have been provided by the Lenders with
adequate security and indemnity against the costs, expenses and liabilities that may be incurred by it in compliance with such request or direction. 

  
 2 

 ADDENDUM 4 to LOAN AND SECURITY AGREEMENT 

Multiple Borrower Terms 

(a) Borrower’s Agent. Each of the Borrowers hereby irrevocably appoints Kaleido Biosciences, Inc. as its agent, attorney-in-fact and legal representative for all purposes, including requesting disbursement of the Term Loan and receiving account statements and other notices and
communications to Borrowers (or any of them) from the Agent or any Lender. The Agent may rely, and shall be fully protected in relying, on any request for the Term Loan, disbursement instruction, report, information or any other notice or
communication made or given by Kaleido Biosciences, Inc., whether in its own name or on behalf of one or more of the other Borrowers, and the Agent shall not have any obligation to make any inquiry or request any confirmation from or on behalf of
any other Borrower as to the binding effect on it of any such request, instruction, report, information, other notice or communication, nor shall the joint and several character of the Borrowers’ obligations hereunder be affected thereby. 

(b) Waivers. Each Borrower hereby waives: (i) any right to require the Agent to institute suit against, or to exhaust its
rights and remedies against, any other Borrower or any other person, or to proceed against any property of any kind which secures all or any part of the Secured Obligations, or to exercise any right of offset or other right with respect to any
reserves, credits or deposit accounts held by or maintained with the Agent or any Indebtedness of the Agent or any Lender to any other Borrower, or to exercise any other right or power, or pursue any other remedy the Agent or any Lender may have;
(ii) any defense arising by reason of any disability or other defense of any other Borrower or any guarantor or any endorser, co-maker or other person, or by reason of the cessation from any cause
whatsoever of any liability of any other Borrower or any guarantor or any endorser, co-maker or other person, with respect to all or any part of the Secured Obligations, or by reason of any act or omission of
the Agent or others which directly or indirectly results in the discharge or release of any other Borrower or any guarantor or any other person or any Secured Obligations or any security therefor, whether by operation of law or otherwise;
(iii) any defense arising by reason of any failure of the Agent to obtain, perfect, maintain or keep in force any Lien on, any property of any Borrower or any other person; (iv) any defense based upon or arising out of any bankruptcy,
insolvency, reorganization, arrangement, readjustment of debt, liquidation or dissolution proceeding commenced by or against any other Borrower or any guarantor or any endorser, co-maker or other person,
including without limitation any discharge of, or bar against collecting, any of the Secured Obligations (including without limitation any interest thereon), in or as a result of any such proceeding. Until all of the Secured Obligations have been
paid, performed, and discharged in full, nothing shall discharge or satisfy the liability of any Borrower hereunder except the full performance and payment of all of the Secured Obligations. If any claim is ever made upon the Agent for repayment or
recovery of any amount or amounts received by the Agent in payment of or on account of any of the Secured Obligations, because of any claim that any such payment constituted a preferential transfer or fraudulent conveyance, or for any other reason
whatsoever, and the Agent repays all or part of said amount by reason of any judgment, decree or order of any court or administrative body having jurisdiction over the Agent or any of its property, or by reason of any settlement or compromise of any
such claim effected by the Agent with any such claimant (including without limitation the any other Borrower), then and in any such event, each Borrower agrees that any such judgment, decree, order, settlement and compromise shall be binding upon
such Borrower, notwithstanding any revocation or release of this Agreement or the cancellation of any note or other instrument evidencing any of the Secured Obligations, or any release of any of the Secured Obligations, and each Borrower shall be
and remain liable to the Agent and the Lenders under 

  
 3 

 
this Agreement for the amount so repaid or recovered, to the same extent as if such amount had never originally been received by the Agent or any Lender, and the provisions of this sentence shall
survive, and continue in effect, notwithstanding any revocation or release of this Agreement. Each Borrower hereby expressly and unconditionally waives all rights of subrogation, reimbursement and indemnity of every kind against any other Borrower,
and all rights of recourse to any assets or property of any other Borrower, and all rights to any collateral or security held for the payment and performance of any Secured Obligations, including (but not limited to) any of the foregoing rights
which Borrower may have under any present or future document or agreement with any other Borrower or other person, and including (but not limited to) any of the foregoing rights which any Borrower may have under any equitable doctrine of
subrogation, implied contract, or unjust enrichment, or any other equitable or legal doctrine. 
 (c) Consents. Each Borrower
hereby consents and agrees that, without notice to or by Borrower and without affecting or impairing in any way the obligations or liability of Borrower hereunder, the Agent may, from time to time before or after revocation of this Agreement, do any
one or more of the following in its sole and absolute discretion: (i) accept partial payments of, compromise or settle, renew, extend the time for the payment, discharge, or performance of, refuse to enforce, and release all or any parties to,
any or all of the Secured Obligations; (ii) grant any other indulgence to any Borrower or any other Person in respect of any or all of the Secured Obligations or any other matter; (iii) accept, release, waive, surrender, enforce, exchange,
modify, impair, or extend the time for the performance, discharge, or payment of, any and all property of any kind securing any or all of the Secured Obligations or any guaranty of any or all of the Secured Obligations, or on which the Agent at any
time may have a Lien, or refuse to enforce its rights or make any compromise or settlement or agreement therefor in respect of any or all of such property; (iv) substitute or add, or take any action or omit to take any action which results in
the release of, any one or more other Borrowers or any endorsers or guarantors of all or any part of the Secured Obligations, including, without limitation one or more parties to this Agreement, regardless of any destruction or impairment of any
right of contribution or other right of Borrower; (v) apply any sums received from any other Borrower, any guarantor, endorser, or co-signer, or from the disposition of any Collateral or security, to any
Indebtedness whatsoever owing from such person or secured by such Collateral or security, in such manner and order as the Agent determines in its sole discretion, and regardless of whether such Indebtedness is part of the Secured Obligations, is
secured, or is due and payable. Each Borrower consents and agrees that the Agent shall be under no obligation to marshal any assets in favor of Borrower, or against or in payment of any or all of the Secured Obligations. Each Borrower further
consents and agrees that the Agent shall have no duties or responsibilities whatsoever with respect to any property securing any or all of the Secured Obligations. Without limiting the generality of the foregoing, the Agent shall have no obligation
to monitor, verify, audit, examine, or obtain or maintain any insurance with respect to, any property securing any or all of the Secured Obligations. 

(d) Independent Liability. Each Borrower hereby agrees that one or more successive or concurrent actions may be brought hereon
against such Borrower, in the same action in which any other Borrower may be sued or in separate actions, as often as deemed advisable by Agent. Each Borrower is fully aware of the financial condition of each other Borrower and is executing and
delivering this Agreement based solely upon its own independent investigation of all matters pertinent hereto, and such Borrower is not relying in any manner upon any representation or statement of the Agent or any Lender with respect thereto. Each
Borrower represents and warrants that it is in a position to obtain, and each Borrower hereby assumes full responsibility for obtaining, any additional information concerning any other Borrower’s financial condition and any other matter
pertinent hereto as such Borrower may desire, and such Borrower is not relying upon or expecting the Agent to furnish to it any information now or hereafter in the Agent’s possession concerning the same or any other matter. 

  
 4 

 (e) Subordination. All Indebtedness of a Borrower now or hereafter arising
held by another Borrower is subordinated to the Secured Obligations and the Borrower holding the Indebtedness shall take all actions reasonably requested by Agent to effect, to enforce and to give notice of such subordination. 

  
 5 

 EXHIBIT A 

ADVANCE REQUEST 
  

							
	 To:
	  	 Agent:
	  	 Date:
	  	 __________, 20[__]

				
		  	 Hercules Capital, Inc. (the “Agent”)

400 Hamilton Avenue, Suite 310
 Palo Alto, CA 94301

email: legal@htgc.com
 Attn:
	  		  	

 Kaleido Biosciences, Inc., a Delaware corporation, on behalf of itself and each of its Subsidiaries party to the Agreement
(collectively, “Borrower”) hereby requests from Hercules Capital, Inc. (“Lenders”) an Advance in the amount of _____________________ Dollars ($________________) (the “Advance Amount”) on ______________, _____ (the
“Advance Date”) pursuant to the Loan and Security Agreement among Borrower, Agent and the Lenders (the “Agreement”). Capitalized words and other terms used but not otherwise defined herein are used with the same meanings as
defined in the Agreement. 
 Please: 
  

									
	 (a)
	  	 Issue a check payable to Borrower
	  	 ________

				
		  	 or
	  		  	
			
	 (b)
	  	 Wire Funds to Borrower’s account
	  	 ________ [LAST 3 DIGITS]

		  	 Bank:
	  	 _____________________________
	  	
		  	 Address:
	  	 _____________________________
	  	
		  		  	 _____________________________
	  	
		  	ABA Number:	  	 _____________________________
	  	
		  	Account Number:	  	 _____________________________
	  	
		  	Account Name:	  	 _____________________________
	  	
		  	Contact Person:	  	 _____________________________
	  	
		  	Phone Number	  		  	
		  	To Verify Wire Info:	  	 _____________________________
	  	
		  	 Email address:
	  	 _____________________________
	  	

 Borrower represents that the conditions precedent to the Advance set forth in the Agreement are
satisfied and shall be satisfied upon the making of such Advance, including but not limited to: (i) that no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing; (ii) that the
representations and warranties set forth in the Agreement are and shall be true and correct in all material respects on and as of the Advance Date with the same effect as though made on and as of such date, except to the extent such representations
and warranties expressly relate to an earlier date; (iii) that Borrower is in compliance with all the terms and provisions set forth in each Loan Document on its part to be observed or performed, which shall have been true and correct in all
material respects as of such date; and (iv) that as of the Advance Date, no fact or condition exists that would (or would, with the passage of time, the giving of notice, or both) constitute an Event of Default under the Loan Documents.

 
Borrower understands and acknowledges that Agent has the right to review the financial information supporting this representation and, based upon such review in its sole discretion, the Lenders
may decline to fund the requested Advance. 
 Borrower hereby represents that Borrower’s corporate status and locations have not
changed since the date of the Agreement or, if the Attachment to this Advance Request is completed, are as set forth in the Attachment to this Advance Request. 

Borrower agrees to notify Agent promptly before the funding of the Loan if any of the matters which have been represented above shall not be
true and correct on the Borrowing Date and if Agent has received no such notice before the Advance Date then the statements set forth above shall be deemed to have been made and shall be deemed to be true and correct as of the Advance Date. 

Executed as of [                ],
20[    ]. 
  

	
	BORROWER:
	
	KALEIDO BIOSCIENCES, INC.
	
	SIGNATURE:________________________
	TITLE:_____________________________
	PRINT NAME:______________________

  
 2 

 ATTACHMENT TO ADVANCE REQUEST 

Dated: _______________________ 
 Borrower hereby
represents and warrants to Agent that Borrower’s current name and organizational status is as follows: 
  

			
	Name:	  	Kaleido Biosciences, Inc.
		
	Type of organization:	  	Corporation
		
	State of organization:	  	Delaware
		
	Organization file number:	  	47-3048279

 Borrower hereby represents and warrants to Agent that the street addresses, cities, states and postal codes of its
current locations are as follows: 
 [ 🌑 ] 

Borrower hereby represents and warrants to Agent that the Advance Amount does not exceed the Maximum Term Loan Amount as follows: 

a. Advance Amount: $________________ 
 b. [Maximum Term Loan
Amount: $________________] 
 [c. Is clause a. less than or equal to clause b.? Yes/Compliant _______
No/Non-Compliant _______] 
  

  
 3 

 EXHIBIT B 

NAME, LOCATIONS, AND OTHER INFORMATION FOR BORROWER 

1. Borrower represents and warrants to Agent that Borrower’s current name and organizational status as of the Closing Date is as follows:

  

			
	Name:	  	Kaleido Biosciences, Inc.
		
	Type of organization:	  	Corporation
		
	State of organization:	  	Delaware
		
	Organization file number:	  	5681784
		
	Name:	  	Cadena Bio, Inc.
		
	Type of organization:	  	Corporation
		
	State of organization:	  	Delaware
		
	Organization file number:	  	6000485

 2. Borrower represents and warrants to Agent that for five (5) years prior to the Closing Date, Borrower
did not do business under any other name or organization or form except the following: 
 Name: VL32, Inc. 

Used during dates of: January, 2015 – November, 2015 

Type of Organization: Same as above. 

State of organization: Same as above. 

Organization file Number: Same as above. 

Borrower’s fiscal year ends on December 31 

Borrower’s federal employer tax identification number is: 47-3048279 

3. Borrower represents and warrants to Agent that its chief executive office is located at 65 Hayden Avenue Lexington, MA 02421. 

 EXHIBIT C 

BORROWER’S PATENTS, TRADEMARKS, COPYRIGHTS AND LICENSES 
  

	 	1)	 Kaleido IP Assets 

 

	 	a)	 Patents and Patent Applications: 

U.S. 9,492,473, Glycan Therapeutics and Related Methods Thereof 

U.S. 9,757,403, Glycan Therapeutics and Related Methods Thereof 

U.S. 9,901,595, Glycan Therapeutics and Related Methods Thereof 

U.S. 10,314,853, Glycan Therapeutics and Related Methods Thereof 

EP 3071235 Glycan Therapeutic Compositions and Related Methods Thereof 

HK 1228788 Glycan Therapeutic Compositions and Related Methods Thereof 

ZA 2017/04735 Glycan Therapeutic Compositions and Related Methods Thereof 

Kaleido Portfolio Listing: 
  

									
	 Application No.    
	  	 Country
	  	 Status
	  	 Filing

Date
	  	 Application Title

					
	15/017396	  	US	  	Granted	  	05-Feb-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	15/286382	  	US	  	Granted	  	05-Oct-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	15/385331	  	US	  	Granted	  	20-Dec-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	15/624372	  	US	  	Granted	  	15-Jun-2017	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF

									
	 Application No.    
	  	 Country
	  	 Status
	  	 Filing

Date
	  	 Application Title

					
	16/396067	  	US	  	Pending	  	26-Apr-2019	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	16/395929	  	US	  	Pending	  	26-Apr-2019	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	2016212030	  	AU	  	Published	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	1120170156148	  	BR	  	Published	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	2973617	  	CA	  	Published	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	201701901	  	CL	  	Published	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	201680017749.4	  	CN	  	Published	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	201791702	  	EA	  	Published	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	16704085.6	  	EP	  	Granted	  	13-Jan-2016	  	GLYCAN THERAPEUTIC COMPOSITIONS AND RELATED METHODS THEREOF
					
	17206409.9	  	EP	  	Published	  	13-Jan-2016	  	GLYCAN THERAPEUTIC COMPOSITIONS AND RELATED METHODS THEREOF

									
	 Application No.    
	  	 Country
	  	 Status
	  	 Filing

Date
	  	 Application Title

					
	17102650.8	  	HK	  	Granted	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	PID201704900	  	ID	  	Published	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	P00201909582	  	ID	  	Pending	  	25-Oct-2019	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	253195	  	IL	  	Published	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	201717026559	  	IN	  	Published	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	2017-557273	  	JP	  	Published	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	10-2017-7023785	  	KR	  	Pending	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	MX/a/2017/009589	  	MX	  	Published	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	PI2017001075	  	MY	  	Pending	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	733270	  	NZ	  	Pending	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	1-2017-501342	  	PH	  	Published	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF

									
	 Application No.    
	  	 Country
	  	 Status
	  	 Filing

Date
	  	 Application Title

					
	2017110006033	  	SG	  	Published	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	PCT/US2016/013305	  	WO	  	Inactive	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	2017/04735	  	ZA	  	Granted	  	13-Jan-2016	  	GLYCAN THERAPEUTICS AND RELATED METHODS THEREOF
					
	16/140091	  	US	  	Published	  	24-Sep-2018	  	GLYCAN THERAPEUTIC COMPOSITIONS AND RELATED METHODS THEREOF
					
	2016253010	  	AU	  	Published	  	23-Apr-2016	  	GLYCAN THERAPEUTIC COMPOSITIONS AND RELATED METHODS THEREOF
					
	2983236	  	CA	  	Published	  	23-Apr-2016	  	GLYCAN THERAPEUTIC COMPOSITIONS AND RELATED METHODS THEREOF
					
	201680035931.2	  	CN	  	Published	  	23-Apr-2016	  	GLYCAN THERAPEUTIC COMPOSITIONS AND RELATED METHODS THEREOF
					
	16722465.8	  	EP	  	Published	  	23-Apr-2016	  	GLYCAN THERAPEUTICS AND METHODS OF TREATMENT
					
	18110824.1	  	HK	  	Pending	  	22-Aug-2018	  	GLYCAN THERAPEUTICS AND METHODS OF TREATMENT
					
	2017-555593	  	JP	  	Published	  	23-Apr-2016	  	GLYCAN THERAPEUTIC COMPOSITIONS AND RELATED METHODS THEREOF

									
	 Application No.    
	  	 Country
	  	 Status
	  	 Filing

Date
	  	 Application Title

					
	735895	  	NZ	  	Pending	  	23-Apr-2016	  	GLYCAN THERAPEUTIC COMPOSITIONS AND RELATED METHODS THEREOF
					
	PCT/US2016/029082	  	WO	  	Inactive	  	23-Apr-2016	  	GLYCAN THERAPEUTICS AND METHODS OF TREATMENT
					
	16/270051	  	US	  	Pending	  	07-Feb-2019	  	MICROBIOME REGULATORS AND RELATED USES THEREOF
					
	2016253011	  	AU	  	Published	  	23-Apr-2016	  	MICROBIOME REGULATORS AND RELATED USES THEREOF
					
	2983016	  	CA	  	Published	  	23-Apr-2016	  	MICROBIOME REGULATORS AND RELATED USES THEREOF
					
	201680036013.1	  	CN	  	Published	  	23-Apr-2016	  	MICROBIOME REGULATORS AND RELATED USES THEREOF
					
	16724150.4	  	EP	  	Published	  	23-Apr-2016	  	MICROBIOME REGULATORS AND RELATED USES THEREOF
					
	MX/a/2017/013562	  	MX	  	Published	  	23-Apr-2016	  	MICROBIOME REGULATORS AND RELATED USES THEREOF
					
	735897	  	NZ	  	Pending	  	23-Apr-2016	  	MICROBIOME REGULATORS AND RELATED USES THEREOF
					
	PCT/US2016/029083	  	WO	  	Inactive	  	23-Apr-2016	  	MICROBIOME REGULATORS AND RELATED USES THEREOF
					
	2017/06675	  	ZA	  	Pending	  	23-Apr-2016	  	MICROBIOME REGULATORS AND RELATED USES THEREOF

									
	 Application No.    
	  	 Country
	  	 Status
	  	 Filing

Date
	  	 Application Title

					
	2016311452	  	AU	  	Published	  	25-Aug-2016	  	GLYCAN COMPOSITIONS AND USES THEREOF
					
	2994430	  	CA	  	Published	  	25-Aug-2016	  	GLYCAN COMPOSITIONS AND USES THEREOF
					
	201680059550.8	  	CN	  	Published	  	25-Aug-2016	  	GLYCAN COMPOSITIONS AND USES THEREOF
					
	16778131.9	  	EP	  	Published	  	25-Aug-2016	  	GLYCAN COMPOSITIONS AND USES THEREOF
					
	2018-510084	  	JP	  	Published	  	25-Aug-2016	  	GLYCAN COMPOSITIONS AND USES THEREOF
					
	MX/a/2018/002301	  	MX	  	Published	  	25-Aug-2016	  	GLYCAN COMPOSITIONS AND USES THEREOF
					
	739502	  	NZ	  	Pending	  	25-Aug-2016	  	GLYCAN COMPOSITIONS AND USES THEREOF
					
	15/754850	  	US	  	Published	  	25-Aug-2016	  	GLYCAN COMPOSITIONS AND USES THEREOF
					
	PCT/US2016/048794	  	WO	  	Inactive	  	25-Aug-2016	  	GLYCAN COMPOSITIONS AND USES THEREOF
					
	201780056075.3	  	CN	  	Published	  	13-Jul-2017	  	GLYCAN COMPOSITIONS AND METHODS OF USE
					
	17746236.3	  	EP	  	Published	  	13-Jul-2017	  	GLYCAN COMPOSITIONS AND METHODS OF USE

									
	 Application No.    
	  	 Country
	  	 Status
	  	 Filing

Date
	  	 Application Title

					
	2019-501469	  	JP	  	Published	  	13-Jul-2017	  	GLYCAN COMPOSITIONS AND METHODS OF USE
					
	16/316755	  	US	  	Pending	  	10-Jan-2019	  	GLYCAN COMPOSITIONS AND METHODS OF USE
					
	PCT/US2017/042022	  	WO	  	Inactive	  	13-Jul-2017	  	GLYCAN COMPOSITIONS AND METHODS OF USE
					
	2017370682	  	AU	  	Published	  	06-Dec-2017	  	GLYCAN POLYMERS AND RELATED METHODS THEREOF
					
	3046207	  	CA	  	Published	  	06-Dec-2017	  	GLYCAN POLYMERS AND RELATED METHODS THEREOF
					
	201780075847.8	  	CN	  	Published	  	06-Dec-2017	  	GLYCAN POLYMERS AND RELATED METHODS THEREOF
					
	17832599.9	  	EP	  	Published	  	06-Dec-2017	  	GLYCAN POLYMERS AND RELATED METHODS THEREOF
					
	2019-530061	  	JP	  	Pending	  	06-Dec-2017	  	GLYCAN POLYMERS AND RELATED METHODS THEREOF
					
	754185	  	NZ	  	Pending	  	06-Dec-2017	  	GLYCAN POLYMERS AND RELATED METHODS THEREOF
					
	16/466945	  	US	  	Published	  	05-Jun-2019	  	GLYCAN POLYMERS AND RELATED METHODS THEREOF
					
	PCT/US2017/064974	  	WO	  	Inactive	  	06-Dec-2017	  	GLYCAN POLYMERS AND RELATED METHODS THEREOF

									
	 Application No.    
	  	 Country
	  	 Status
	  	 Filing

Date
	  	 Application Title

					
	PCT/US2018/059100	  	WO	  	Published	  	03-Nov-2018	  	GLYCAN PREPARATIONS FOR THE TREATMENT OF INFECTION
					
	PCT/US2018/059102	  	WO	  	Published	  	03-Nov-2018	  	GLYCAN PREPARATIONS AND METHODS OF USE FOR HYPERAMMONEMIA
					
	PCT/US2018/059101	  	WO	  	Published	  	03-Nov-2018	  	METHODS OF PRODUCING GLYCAN POLYMERS
					
	62/861252	  	US	  	Pending	  	13-Jun-2019	  	GLYCAN PREPARATIONS AND MICROBES
					
	62/790671	  	US	  	Pending	  	10-Jan-2019	  	GLYCAN PREPARATIONS AND METHODS OF USE FOR TREATING NON-ALCOHOLIC FATTY LIVER DISEASE
					
	62/790631	  	US	  	Pending	  	10-Jan-2019	  	GLYCAN PREPARATIONS AND METHODS OF USE IN RENAL DISEASES
					
	62/880369	  	US	  	Pending	  	30-Jul-2019	  	GLYCAN PREPARATIONS AND METHODS OF USE IN RENAL DISEASES
					
	PCT/US2018/042174	  	WO	  	Published	  	13-Jul-2018	  	GLYCAN COMPOSITIONS AND METHODS OF USE
					
	62/861268	  	US	  	Pending	  	13-Jun-2019	  	COMPOSITIONS AND METHODS
					
	62/861256	  	US	  	Pending	  	13-Jun-2019	  	COMPOSITIONS AND METHODS

									
	 Application No.    
	  	 Country
	  	 Status
	  	 Filing

Date
	  	 Application Title

					
	62/861270	  	US	  	Pending	  	13-Jun-2019	  	COMPOSITIONS AND METHODS
					
	PCT/US2019/047595	  	WO	  	Pending	  	21-Aug-2019	  	OLIGOSACCHARIDE COMPOSITIONS AND METHODS OF USE THEREOF FOR REDUCING AMMONIA LEVELS
					
	PCT/US2019/060626	  	WO	  	Pending	  	8-Nov-2019	  	OLIGOSACCHARIDE COMPOSITIONS AND METHODS OF USE THEREOF
					
	62/791006	  	US	  	Pending	  	10-Jan-2019	  	FORMULATIONS FOR MODULATING MICROBIOME ACTIVITY
					
	62/845305	  	US	  	Pending	  	8-May-2019	  	OLIGOSACCHARIDE COMPOSITIONS AND METHODS OF USE
					
	62/910179	  	US	  	Pending	  	3-Oct-2019	  	OLIGOSACCHARIDE COMPOSITIONS AND METHODS OF USE

  

	 	b)	 Trademarks and/or service marks: 

 The following marks have been applied for but not yet granted, unless otherwise
noted. 
  

															
	 Mark
	  	 Country
	  	 Status
	  	Serial No.	  	 Filing Date
	  	 Reg. No.
	  	 Reg. Date
	  	 Class

								
	KALEIDO	  	Canada	  	Allowed	  	1776706	  	11-Apr-16	  		  		  	N/A
								
	KALEIDO	  	China (People’s Republic)	  	Registered	  	1314387	  	8-Apr-16	  	1314387	  	8-Apr-16	  	05 Int.
								
	KALEIDO	  	European Union	  	Registered	  	017224072	  	20-Sep-17	  	017224072	  	17-Jan-18	  	01 Int.
								
	KALEIDO	  	European Union	  	Registered	  	017941073	  	10-Aug-18	  	017941073	  	25-Dec-18	  	05 Int.
								
	KALEIDO	  	Japan	  	Registered	  	1314387	  	8-Apr-16	  	1314387	  	8-Apr-16	  	05 Int.
								
	KALEIDO	  	Mexico	  	Registered	  	1314387	  	8-Apr-16	  	1314387	  	8-Apr-16	  	05 Int.
								
	KALEIDO	  	United States of America	  	Allowed	  	86/783357	  	9-Oct-15	  		  		  	05 Int.
								
	KALEIDO	  	Int’l Registration—Madrid Protocol	  	Registered	  	A0057956	  	8-Apr-16	  	1314387	  	8-Apr-16	  	05 Int.; 42 Int.
								
	

	  	United States of America	  	Pending*	  	88/369612	  	3-Apr-19	  		  		  	05 Int.
								
	

	  	United States of America	  	Allowed	  	88/369644	  	3-Apr-19	  		  		  	05 Int.
								
	

	  	Int’l Registration	  	Registered	  		  	2-Oct-19	  	1497529	  	2-Oct-19	  	05 Int.
								
	MICROBIOME ENHANCER	  	United States of America	  	Pending	  	87/195340	  	6-Oct-16	  		  		  	05 Int.
								
	MMT	  	European Union	  	Published	  	1482563	  	19-Jun-19	  		  		  	05 Int.
								
	MMT	  	Japan	  	Pending	  	1482563	  	19-Jun-19	  		  		  	05 Int.
								
	MMT	  	United States of America	  	Published	  	88/235670	  	19-Dec-18	  		  		  	05 Int.
								
	MMT	  	Int’l Registration—Madrid Protocol	  	Registered	  	A0086981	  	19-Jun-19	  	1482563	  	19-Jun-19	  	05 Int.

  

	*	 international filing for class 5 on October 2, 2019. Appl. # not yet available 

	 	c)	 Copyright registrations or applications: None 

 

	 	d)	 Domain names: 

kaleido.com 
 kaleidobio.com

 caleidobio.com 

kaleidobiosciences.com 

kaleidotherapeutics.com 

kaleidotx.com 
 kaleidotx.net

 vl32.com 
 cadena-bio.com 
 cadena-bio.net 

cadena-bio.org 

cadenabio.com 
 cadenabio.net

 cadenahealth.com 
  

	 	2)	 Cadena IP Assets (as of December 31, 2018):  

 

	 	a)	 Patents and Patent Applications: 

U.S. 8,466,242, Polymeric Acid Catalysts and Uses Thereof 

U.S. 8,476,388, Polymeric Acid Catalysts and Uses Thereof 

 U.S. 9,079,171, Polymeric Acid Catalysts and Uses Thereof 

U.S. 9,205,418, Polymeric Acid Catalysts and Uses Thereof 

U.S. 10,131,721, Polymeric Acid Catalysts and Uses Thereof 

U.S. 9,238,845, Methods of Producing Sugars from Biomass Feedstocks 

EP 2681547, Polymeric Acid Catalysts and Uses Thereof 

AR 085503B1, Polymeric Acid Catalysts and Uses Thereof 

AU 2012223494, Polymeric Acid Catalysts and Uses Thereof 

CA 2,864,086, Polymeric Acid Catalysts and Uses Thereof 

CN ZL201280018901.2, Polymeric Acid Catalysts and Uses Thereof 

CO 30876, Polymeric Acid Catalysts and Uses Thereof 

ID 465560, Polymeric Acid Catalysts and Uses Thereof 

MX 344405, Polymeric Acid Catalysts and Uses Thereof 

NZ 616047, Polymeric Acid Catalysts and Uses Thereof 

SG 192958, Polymeric Acid Catalysts and Uses Thereof 

ZA 2013/06233 Polymeric Acid Catalysts and Uses Thereof 

CN ZL201380055050.3, Polymeric and Solid-Supported Catalysts, and Methods of Digesting Cellulosic Materials Using such Catalysts 

Cadena Bio Portfolio Listing: 

													
	 	  	 Title/Inventors
	  	 Pub. No.

Serial No.
	  	 C & E Ref.
	  	 Cadena Ref.
	  	 Status
	  	 Patent No. /

Issue date

	1	  	 POLYMERIC ACID CATALYSTS AND USES THEREOF
  

John M. Geremia
  

Brian M. Baynes
  

Ashish Dhawan
  

Corresponding to International Application PCT/US2012/026820 filed 2/27/2012
  

Priority information:
  

61/447,311 filed 2/28/2011
  

61/522,351 filed 8/11/2011
	  	 U.S.S.N. 13/406,490*
  

Filed 2/27/2012
	  	51169-002003	  	CAD-001 US3	  	Granted	  	 9,079,171
  

7/14/2015

	  	  
 U.S.S.N. 13/406,517

 
 Filed 2/27/2012
	  	  
 51169-002004
	  	  
 CAD-001 US4
	  	  
 Granted
	  	  
 8,466,242

 
 6/18/2013

	  	  
 U.S.S.N. 13/657,724

 
 Filed 10/22/2012
	  	  
 51169-002005
	  	  
 CAD-001 US5
	  	  
 Granted
	  	  
 8,476,388

 
 7/2/2013

	  	  
 U.S.S.N. 13/865,048

 
 Filed 4/17/2013
	  	  
 51169-002006
	  	  
 CAD-001 US6
	  	  
 Granted
	  	  
 9,205,418

 
 12/8/2015

	  	  
 U.S.S.N. 14/730,143*

 
 Filed 6/3/2015
	  	  
 51169-002007
	  	  
 CAD-001 US7
	  	  
 Granted
	  	  
 10,131,721

 
 11/20/2018

	  	  
 U.S.S.N. 16/175,213

 
 Filed 10/30/2018
	  	  
 51169-002008
	  	  
 CAD-001US8
	  	  
 Published
	  	
	  	  
 AR P20120100642

 
 Filed 2/28/2012
	  	  
 51169-002AR3
	  	  
 CAD-001 AR
	  	  
 Granted
	  	  
 AR085503B1

 
 08/30/2018

	  	  
 AU 2012223494
	  	  
 51169-002AU3
	  	  
 CAD-001 AU
	  	  
 Granted
	  	  
 2012223494

 
 07/20/2017

	  	  
 BR1120130220473
	  	  
 51169-002BR3
	  	  
 CAD-001 BR
	  	  
 Pending
	  	
	  	  
 CA 2,864,086
	  	  
 51169-002CA3
	  	  
 CAD-001 CA
	  	  
 Granted
	  	  
 2,864,086

 
 07/10/2018

	  	  
 CL 2463-2013
	  	  
 51169-002CL3
	  	  
 CAD-001 CL
	  	  
 Abandoned
	  	
	  	  
 CN 201280018901.2
	  	  
 51169-002CN3
	  	  
 CAD-001 CN
	  	  
 Granted
	  	  
 ZL201280018901.2

 
 02/27/2018

	  	  
 CO 13230542
	  	  
 51169-002CO3
	  	  
 CAD-001 CO
	  	  
 Granted
	  	  
 30876

 
 08/18/2015

	  	  
 EP 12709207.0
	  	  
 51169-002EP3
	  	  
 CAD-001 EP1
	  	  
 Granted
	  	  
 2681247

 
 04/04/2018

	  	  
 EP 18163838.8
	  	  
 51169-002EP4
	  	  
 CAD-001 EP2
	  	  
 Published
	  	

													
	 	  	 Title/Inventors
	  	 Pub. No.

Serial No.
	  	 C & E Ref.
	  	 Cadena Ref.
	  	 Status
	  	 Patent No. /

Issue date

		  		  	ID W00201304395	  	51169-002ID3	  	CAD-001 ID	  	Granted	  	 IDP0000465560
  

06/20/2017

							
		  		  	IN 7946/DELNP/2013	  	51169-002IN3	  	CAD-001 IN	  	Pending	  	
							
		  		  	JM 18/1/5278	  	51169-002JM3	  	CAD-001 JM	  	Pending	  	
							
		  		  	KR 10-2013-7018658	  	51169-002KR3	  	CAD-001 KR	  	Abandoned	  	
							
		  		  	MX/a/2013/009920	  	51169-002MX3	  	CAD-001 MX	  	Granted	  	 344405
  

12/14/2016

							
		  		  	MX/a/2015/016430	  	51169-002MX4	  	CAD-001 MX	  	Pending	  	
							
		  		  	MY PI 2013003157	  	51169-002MY3	  	CAD-001 MY	  	Abandoned	  	
							
		  		  	NZ 616047	  	51169-002NZ3	  	CAD-001 NZ	  	Granted	  	 616047
  

3/30/2016

							
		  		  	PH 1-2013-501775	  	51169-002PH3	  	CAD-001 PH	  	Pending	  	
							
		  		  	RU 2013143822	  	51169-002RU3	  	CAD-001 RU	  	Abandoned	  	
							
		  		  	SG 201306465-4	  	51169-002SG3	  	CAD-001 SG	  	Granted	  	 192958
  

3/9/2016

							
		  		  	TH 1301004754	  	51169-002TH3	  	CAD-001 TH	  	Pending	  	
							
		  		  	ZA 2013/06233	  	51169-002ZA3	  	CAD-001 ZA	  	Granted	  	 2013/06233
  

12/20/2017

							
	2	  	 METHODS OF PRODUCING SUGARS FROM BIOMASS FEEDSTOCKS
  

Brian M. Baynes
  

John M. Geremia
  

Joseph Andoh
  

Ashish Dhawan
  

Priority information:
  

61/693,210 filed 8/24/2012
	  	 U.S.S.N. 13/831,495
  

Filed 3/14/2013
	  	51169-003001	  	CAD-006 US2	  	Granted	  	 9,238,845
  

1/19/2016

													
	 	  	 Title/Inventors
	  	 Pub. No.

Serial No.
	  	 C & E Ref.
	  	 Cadena Ref.
	  	 Status
	  	 Patent No. /

Issue date

							
	3	  	 POLYMERIC AND SOLID-SUPPORTED CATALYSTS, AND METHODS OF DIGESTING CELLULOSIC MATERIALS USING SUCH CATALYSTS

 
 John M. Geremia

 
 Brian M. Baynes

 
 Jaouad Fichtali

 
 Joseph Andoh
	  	 U.S.S.N. 14/423,697*
  

Filed 2/24/2015
	  	51169-004004	  	CAD-004 US	  	Abandoned	  	
	  	CA 2,922,254	  	51169-004CA4	  	CAD-004 CA	  	Abandoned	  	
	  	CN 201380055050.3	  	51169-004CN4	  	CAD-004 CN	  	Granted	  	 ZL201380055050.3
  

4/12/2017

	  	EP 13831228.5	  	51169-004EP4	  	CAD-004 EP	  	Abandoned	  	
	  	KR 10-2015-7007481	  	51169-004KR4	  	CAD-004 KR	  	Abandoned	  	
							
		  	 Corresponding to International Application No. PCT/US2013/056389 filed 8/23/2013

 
 Priority information:

 
 61/693,200 filed 8/24/2012

 
 61/693,210 filed 8/24/2012

 
 61/693,213 filed 8/24/2012

 
 13/831,495 filed 3/14/2013
	  		  		  		  		  	
							
	4	  	 OLIGOSACCHARIDE COMPOSITIONS AND METHODS FOR PRODUCING THEREOF

 
 John M. Geremia

 
 Anastasia V. Murphy

 
 Scott Han
  

Benjamin A. Seigal
  

Alicia Landry
  

Kyle Sherry
  

Stephan Panos
  

Devin Churchman
	  	 U.S.S.N. 14/795,720*
 Filed 7/9/2015
	  	51169-007003	  	CAD-012 US	  	Published	  	
	  	2015287703	  	51169-007AU3	  	CAD-012AU	  	Abandoned	  	
	  	2019222849	  	51169-007AU4	  	CAD-012AU1	  	Published	  	
	  	BR112017000345-7	  	51169-007BR3	  	CAD-012 BR	  	Pending	  	
	  	CA 2,954,662	  	51169-007CA3	  	CAD-012 CA	  	Pending	  	
	  	201580048065.6	  	51169-007CN3	  	CAD-012 CN	  	Published	  	
	  	15819734.3	  	51169-007EP3	  	CAD-012 EP	  	Published	  	
	  	17111776.8	  	51169-007HK3	  	CAD-012 HK	  	Pending	  	
	  	P00 2017 00913	  	51169-007ID3	  	CAD-012 ID	  	Pending	  	
	  	249982	  	51169-007IL3	  	CAD-012 IL	  	Pending	  	

													
	 	  	 Title/Inventors
	  	 Pub. No.

Serial No.
	  	 C & E Ref.
	  	 Cadena Ref.
	  	 Status
	  	 Patent No. /

Issue date

		  	Andrew O’Connor	  	201717004105	  	51169-007IN3	  	CAD-012 IN	  	Pending	  	
							
		  		  		  		  		  		  	
							
		  		  	2017-522455	  	51169-007JP3	  	CAD-012 JP	  	Published	  	
							
		  	Corresponding to International Application No. PCT/US2015/039795 filed 7/9/2015	  	MX/a/2017/000319	  	51169-007MX3	  	CAD-012 MX	  	Pending	  	
							
		  		  	PI 2017000019	  	51169-007MY3	  	CAD-012 MY	  	Pending	  	
							
		  	 Priority information:
  

62/022,579 filed 7/9/2014
  

62/108,035 filed 1/26/2015
	  		  		  		  		  	
							
	5	  	 OLIGOSACCHARIDE COMPOSITIONS FOR USE AS FOOD INGREDIENTS AND METHODS OF PRODUCING THEREOF

 
 John M. Geremia

 
 Raffi Mardirosian

 
 Michael J. Gidding

 
 Corresponding to International Application PCT/US2016/013265 filed January 13,
2016
  
 Priority information:

 
 62/108,036 filed 1/26/2015
	  	 U.S.S.N. 15/546,438
  

Filed 7/26/2017
	  	51169-008002	  	CAD-013US	  	Abandoned	  	
	  	 U.S.S.N. 16/440,261
  

Filed 6/13/2019
  
	  	51169-008003	  	CAD-013US2	  	Published	  	
	  	AU 2016212025	  	51169-008AU2	  	CAD-013AU	  	Published	  	
	  	  
 BR 1120170159465
	  	  
 51169-008BR2
	  	  
 CAD-013BR
	  	  
 Published
	  	
	  	  
 CA 2,975,091
	  	  
 51169-008CA2
	  	  
 CAD-013CA
	  	  
 Published
	  	
	  	  
 CN 201680016821.1
	  	  
 51169-008CN2
	  	  
 CAD-013CN
	  	  
 Published
	  	
	  	  
 EP 16743841.5
	  	  
 51169-008EP2
	  	  
 CAD-013EP
	  	  
 Published
	  	
	  	  
 HK 18106258.4
	  	  
 51169-008HK2
	  	  
 CAD-013HK
	  	  
 Pending
	  	
	  	  
 ID PID201705111
	  	  
 51169-008ID2
	  	  
 CAD-013ID
	  	  
 Pending
	  	
	  	  
 IN 201717028052
	  	  
 51169-008IN2
	  	  
 CAD-013IN
	  	  
 Published
	  	
	  	  
 JP 2017-557270
	  	  
 51169-008JP2
	  	  
 CAD-013JP
	  	  
 Published
	  	
	  	  
 MX/a/2017/009722
	  	  
 51169-008MX2
	  	  
 CAD-013MX
	  	  
 Published
	  	
	  	  
 MY PI 2017001086
	  	  
 51169-008MY2
	  	  
 CAD-013MY
	  	  
 Pending
	  	
	  	  
 PH 1-2017-501341
	  	  
 51169-008PH2
	  	  
 CAD-013PH
	  	  
 Published
	  	
	  	  
 RU 2017130166
	  	  
 51169-008RU2
	  	  
 CAD-013RU
	  	  
 Pending
	  	
	  	  
 ZA 2017/05200
	  	  
 51169-008ZA2
	  	  
 CAD-013ZA
	  	  
 Pending
	  	

													
	 	  	 Title/Inventors
	  	 Pub. No.

Serial No.
	  	 C & E Ref.
	  	 Cadena Ref.
	  	 Status
	  	 Patent No. /

Issue date

							
	6	  	OLIGOSACCHARIDE COMPOSITIONS FOR USE IN NUTRITIONAL COMPOSITIONS, AND METHODS OF PRODUCING THEREOF	  	 U.S.S.N 15/546,508
  

Filed 07/26/2017
	  	51169-010002	  	CAD-015US	  	Published	  	
	  		  	  
 AU 2016212026
	  	51169-010AU2	  	CAD-015AU	  	Published	  	
	  	John M. Geremia	  	  
 CA 2,975,093
	  	51169-010CA2	  	CAD-015CA	  	Published	  	
	  		  	  
 CN 201680016981.6
	  	51169-010CN2	  	CAD-015CN	  	Published	  	
	  	Corresponding to International Application PCT/US2016/013271	  	  
 EP 16743842.3
	  	51169-010EP2	  	CAD-015EP	  	Published	  	
	  	Filed January 13, 2016	  	  
 HK 18106257.5
	  	51169-010HK2	  	CAD-015HK	  	Pending	  	
	  		  	  
 JP 2017-557271
	  	51169-010JP2	  	CAD-015JP	  	Published	  	
	  	 Priority information:
  

62/108,038 filed 1/26/2015
	  	  
 MX/a/2017/009720
	  	51169-010MX2	  	CAD-015MX	  	Published	  	
							
	7#	  	OLIGOSACCHARIDE COMPOSITIONS FOR USE AS ANIMAL FEED AND METHODS OF PRODUCING THEREOF	  	  
 U.S.S.N. 14/995,129*

 
 Filed 1/13/2016
	  	51169-017001	  	CAD-014 US	  	Pending	  	
	  		  	  
 BR 1120170159449
	  	51169-017BR1	  	CAD-014BR	  	Published	  	
	  	John M. Geremia	  	  
 CA 2,975,095
	  	51169-017CA1	  	CAD-014CA	  	Published	  	
	  	Raffi Mardirosian	  	  
 CN 201680016822.6
	  	51169-017CN1	  	CAD-014CN	  	Published	  	
	  	 Michael J. Gidding
  

Anastasia V. Murphy
	  	  
 EP 16743843.1
	  	51169-017EP1	  	CAD-014EP	  	Granted	  	 EP 3250048
  

08/14/2019

	  		  	  
 EP 19191223.7
	  	51169-017EP2	  	CAD-014EP1	  	Pending	  	
	  	Corresponding to PCT/US2016/013280	  	  
 HK 18106256.6
	  	51169-017HK1	  	CAD-014HK	  	Pending	  	
	  		  	  
 IN 201717026993
	  	51169-017IN1	  	CAD-014IN	  	Published	  	
	  		  	  
 JP 2017-557272
	  	51169-017JP1	  	CAD-014JP	  	Published	  	
	  		  	  
 MX/a/2017/009730
	  	51169-017MX1	  	CAD-014MX	  	Published	  	

													
	 	  	 Title/Inventors
	  	 Pub. No.

Serial No.
	  	 C & E Ref.
	  	 Cadena Ref.
	  	 Status
	  	 Patent No. /

Issue date

		  	 Filed 1/13/2016
  

Priority information:
  

62/108,037 filed 1/26/2015
  

62/216,945 filed 9/10/2015
  

62/216,952 filed 9/10/2015
  

62/255,341 filed 11/13/2015
  

62/255,343 filed 11/13/2015
  
	  		  		  		  		  	
							
	8#	  	 ANIMAL THERAPEUTIC AND FEED COMPOSITIONS AND METHODS OF USE
  
	  	 PCT/US2016/061337
  

Filed 11/10/2016
	  	51169-020WO1	  	CAD-020 WO	  	National Stage	  	
	  	 John M. Geremia
	  	 U.S.S.N. 15/775,501
  

Filed 05/11/2018
  
	  	51169-020001	  	CAD-020 US	  	Abandoned	  	
	  	 Anastasia V. Murphy
  

Priority information:
  

62/255,348 filed 11/13/2015
  

62/255,352 filed 11/13/2015
	  	 U.S.S.N. 16/293,140
  

Filed 03/05/2019
	  	51169-020002	  	CAD-020 US1	  	Pending	  	

  

	*	 US Utility application, not a national phase. 

 

	#	 Exclusively licensed to Midori, Inc. 

b) Trademarks and/or service marks: None 

c) Copyright registrations or applications: None 

d) Domain names: None 

	 	

 EXHIBIT D 

BORROWER’S DEPOSIT ACCOUNTS AND INVESTMENT ACCOUNTS 
  

									
	 Bank Name
	  	 Account Number
	  	 Company/Subsidiary
	  	 Purpose of Account
	  	Avg. Balance
	Pacific Western Bank	  	0007068643	  	Kaleido Biosciences, Inc.	  	Operating	  	$0.204M1
		  	1001658366	  	Kaleido Biosciences, Inc.	  	LC – collateral Bedford facility	  	$0.118M
		  	1001787199	  	Kaleido Biosciences, Inc.	  	LC – collateral Lexington facility	  	$2.070M
					
	Pacific Western Bank Asset Mgmt.	  	19-SQ79184	  	Kaleido Biosciences, Inc.	  	Former Money Market	  	$0.000M
		  	19-SQ79184A	  	Kaleido Securities Corp.	  	Former Money Market	  	$0.001M
					
	Morgan Stanley Asset Mgmt.	  	233-089616-428	  	Kaleido Biosciences, Inc.	  	Money Market	  	$5.238M
		  	233-089711-428	  	Kaleido Securities Corp.	  	Money Market	  	$20.001M
					
	JPMorgan Chase Bank, N.A.	  	000000518371759	  	Kaleido Biosciences, Inc.	  	Operating	  	$48.007M

  

	1 	 NTD: This balance is as of November 30th. Kaleido will not
be making future deposits to this PacWest account. The plan is to transfer the balance (net of any remaining outstanding checks, currently ~$0.010M) to the JPM operating account by the end of December, 2019. 

 EXHIBIT E 

COMPLIANCE CERTIFICATE 
 Hercules Capital,
Inc. (as “Agent”) 
 400 Hamilton Avenue, Suite 310 

Palo Alto, CA 94301 
 Reference is made to that
certain Loan and Security Agreement dated as of December 31, 2019 and the Loan Documents (as defined therein) entered into in connection with such Loan and Security Agreement all as may be amended from time to time (hereinafter referred to
collectively as the “Loan Agreement”) by and among Hercules Capital, Inc. (the “Agent”), the several banks and other financial institutions or entities from time to time party thereto (collectively, the “Lender”) and
Kaleido Biosciences, Inc. (the “Company”) and each of its Qualified Subsidiaries, as Borrower. All capitalized terms not defined herein shall have the same meaning as defined in the Loan Agreement. 

The undersigned is an Officer of the Company, knowledgeable of all Company financial matters, and is authorized to provide certification of
information regarding the Company; hereby certifies, in such capacity and not in his individual capacity, that in accordance with the terms and conditions of the Loan Agreement, the Company is in compliance for the period ending ___________ of all
covenants, conditions and terms and hereby reaffirms that all representations and warranties contained therein are true and correct in all material respects (to the extent not already qualified by materiality) on and as of the date of this
Compliance Certificate with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, after giving effect in all cases to any standard(s) of materiality
contained in the Loan Agreement as to such representations and warranties. Attached are the required documents supporting the above certification. The undersigned further certifies that the attached financial statements are prepared in accordance
with GAAP (except for the absence of footnotes with respect to unaudited financial statement and subject to normal year-end adjustments) and are consistent from one period to the next except as explained
below. 
  

					
	REPORTING REQUIREMENT	  	REQUIRED	  	CHECK IF ATTACHED
			
	Interim Financial Statements	  	Monthly within 30 days	  	
			
	Interim Financial Statements	  	Quarterly within 45 days	  	
			
	Audited Financial Statements	  	FYE within 90 days	  	

 ACCOUNTS OF BORROWER AND ITS SUBSIDIARIES AND AFFILIATES 

The undersigned hereby also confirms the below disclosed accounts represent all depository accounts and securities accounts presently open in the name of each
Borrower or Borrower’s Subsidiary, as applicable. 

 Each new account that has been opened since delivery of the previous Compliance Certificate is designated
below with a “*”. 
  

															
	 	  	 	 	  	Depository
AC #	  	Financial
Institution	  	Account Type
(Depository /
Securities)	  	Last
Month Ending
Account Balance	  	Purpose of
Account
	 BORROWER Name/Address:
	  		
		  	 	1	 	  		  		  		  		  	
		  	 	2	 	  		  		  		  		  	
		  	 	3	 	  		  		  		  		  	
		  	 	4	 	  		  		  		  		  	
		  	 	5	 	  		  		  		  		  	
		  	 	6	 	  		  		  		  		  	
		  	 	7	 	  		  		  		  		  	
	 BORROWER’S SUBSIDIARY Name/Address
	  		
		  	 	1	 	  		  		  		  		  	
		  	 	2	 	  		  		  		  		  	
		  	 	3	 	  		  		  		  		  	
		  	 	4	 	  		  		  		  		  	
		  	 	5	 	  		  		  		  		  	
		  	 	6	 	  		  		  		  		  	
		  	 	7	 	  		  		  		  		  	

 To the extent applicable, the undersigned hereby confirms that the Borrowers are in compliance with
Section 7.20 of the Loan Agreement (as applicable, as applicable, attached as [Schedule A-1][Schedule A-2][Schedule A-3]
hereto are the required calculations supporting this certification(s)), as of the date first set forth above. 
  

			
	Very Truly Yours,
	
	KALEIDO BIOSCIENCES, INC.
		
	By:	 	
                

		
	Name:	 	  

		
	Its:	 	  

 Schedule A-1 to Compliance Certificate 

If 
 A. Performance Milestone I has not been
achieved on or before June 30, 2020; then 
  

					
	(1)	  	Sum of Cash held by Borrower in accounts in the United States subject to an Account Control Agreement in favor of Agent:	  	$____________________
			
	(2)	  	Sum of the Borrower’s accounts payable under GAAP not paid after the 90th day following the invoice date for such account payable:	  	$____________________
			
	(3)	  	Sum of line (2) plus $15,000,000	  	$____________________
			
	(4)	  	Is the amount line (1) greater than or equal to the amount in line (3)?	  	 YES – In compliance
  

NO – Not in compliance

 Schedule A-2 to Compliance Certificate 

If 
 A. Performance Milestone II has not been
achieved on or before November 15, 2020; then 
  

					
	(1)	  	Sum of Cash held by Borrower in accounts in the United States subject to an Account Control Agreement in favor of Agent:	  	$____________________
			
	(2)	  	Sum of the Borrower’s accounts payable under GAAP not paid after the 90th day following the invoice date for such account payable:	  	$____________________
			
	(3)	  	Outstanding Secured Obligations as of the date hereof	  	$____________________
			
	(4)	  	Sum of line (2) plus line (3)	  	$____________________
			
	(5)	  	Is the amount line (1) greater than or equal to the amount in line (4)?	  	 YES – In compliance
  

NO – Not in compliance

 Schedule A-3 to Compliance Certificate 

If 
 A. Performance Milestone I has been achieved
on or before June 30, 2020; and 
 B. Performance Milestone II has been achieved on or before November 15, 2020; and 

C. Both the Tranche 1 Advance and the Tranche 2 Advance have been drawn, then 

 

					
	(1)	  	Sum of Cash held by Borrower in accounts in the United States subject to an Account Control Agreement in favor of Agent:	  	$____________________
			
	(2)	  	Sum of the Borrower’s accounts payable under GAAP not paid after the 90th day following the invoice date for such account payable:	  	$____________________
			
	(3)	  	Sum of line (2) plus $7,500,000	  	$____________________
			
	(4)	  	Is the amount line (1) greater than or equal to the amount in line (3)?	  	 YES – In compliance
  

NO – Not in compliance

 EXHIBIT F 

FORM OF JOINDER AGREEMENT 

This Joinder Agreement (the “Joinder Agreement”) is made and dated as of
[                ], 20[     ], and is entered into by and between__________________., a ___________ corporation (“Subsidiary”), and
HERCULES CAPITAL, INC., a Maryland corporation (as “Agent”). 
 RECITALS 

A. Subsidiary’s Affiliate, [                ]
(“Company”) [has entered/desires to enter] into that certain Loan and Security Agreement dated as of December 31, 2019, with the several banks and other financial institutions or entities from time to time party thereto as lender
(collectively, the “Lenders”) and the Agent, as such agreement may be amended, restated, supplemented or otherwise modified (the “Loan Agreement”), together with the other agreements executed and delivered in connection
therewith; 
 B. Subsidiary acknowledges and agrees that it will benefit both directly and indirectly from Company’s execution of the
Loan Agreement and the other agreements executed and delivered in connection therewith; 
 AGREEMENT 

NOW THEREFORE, Subsidiary and Agent agree as follows: 
  

	 	1.	 The recitals set forth above are incorporated into and made part of this Joinder Agreement. Capitalized terms
not defined herein shall have the meaning provided in the Loan Agreement. 

  

	 	2.	 By signing this Joinder Agreement, Subsidiary shall be bound by the terms and conditions of the Loan Agreement
the same as if it were the Borrower (as defined in the Loan Agreement) under the Loan Agreement, mutatis mutandis, provided however, that (a) with respect to (i) Section 5.1 of the Loan Agreement, Subsidiary represents that it is an
entity duly organized, legally existing and in good standing under the laws of [                ], (b) neither Agent nor the Lenders shall have any duties,
responsibilities or obligations to Subsidiary arising under or related to the Loan Agreement or the other Loan Documents, (c) that if Subsidiary is covered by Company’s insurance, Subsidiary shall not be required to maintain separate
insurance or comply with the provisions of Sections 6.1 and 6.2 of the Loan Agreement, and (d) that as long as Company satisfies the requirements of Section 7.1 of the Loan Agreement, Subsidiary shall not have to provide Agent separate
Financial Statements. To the extent that Agent or the Lenders has any duties, responsibilities or obligations arising under or related to the Loan Agreement or the other Loan Documents, those duties, responsibilities or obligations shall flow only
to Company and not to Subsidiary or any other Person or entity. By way of example (and not an exclusive list): (i) Agent’s providing notice to Company in accordance with the Loan Agreement or as otherwise agreed among Company, Agent and the
Lenders shall be deemed provided to Subsidiary; (ii) a Lender’s providing an Advance to Company shall be deemed an Advance to Subsidiary; and (iii) Subsidiary shall have no right to request an Advance or make any other demand on the
Lenders. 

  

	 	3.	 Subsidiary agrees not to certificate its equity securities without Agent’s prior written consent, which
consent may be conditioned on the delivery of such equity securities to Agent in order to perfect Agent’s security interest in such equity securities. 

  

	 	4.	 Subsidiary acknowledges that it benefits, both directly and indirectly, from the Loan Agreement, and hereby
waives, for itself and on behalf on any and all successors in interest (including without limitation any assignee for the benefit of creditors, receiver, bankruptcy trustee or itself as
debtor-in-possession under any bankruptcy proceeding) to the fullest extent provided by law, any and all

	 	
claims, rights or defenses to the enforcement of this Joinder Agreement on the basis that (a) it failed to receive adequate consideration for the execution and delivery of this Joinder
Agreement or (b) its obligations under this Joinder Agreement are avoidable as a fraudulent conveyance. 

  

	 	5.	 As security for the prompt, complete and indefeasible payment when due (whether on the payment dates or
otherwise) of all the Secured Obligations, Subsidiary grants to Agent a security interest in all of Subsidiary’s right, title, and interest in and to the Collateral. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 [SIGNATURE PAGE TO JOINDER AGREEMENT] 

 

	
	SUBSIDIARY:
	_________________________________.

  

			
	                                	 	By:
		 	Name:
		 	Title:
		
		 	Address:
		
		 	Telephone:___________
		 	email: ____________

 AGENT: 
 HERCULES CAPITAL, INC.

  

			
	                                      
  	 	By:____________________________________
		 	Name:__________________________________
		 	Title:___________________________________
		
		 	Address:
		 	400 Hamilton Ave., Suite 310
		 	Palo Alto, CA 94301
		 	email: legal@htgc.com
		 	Telephone: 650-289-3060

 EXHIBIT G 

ACH DEBIT AUTHORIZATION AGREEMENT 

Hercules Capital, Inc. 
 400 Hamilton Avenue, Suite 310 

Palo Alto, CA 94301 
 Re: Loan and Security
Agreement dated as of December 31, 2019 (the “Agreement”) by and among Kaleido Biosciences, Inc. and each of its Qualified Subsidiaries (collectively, “Borrower”) and Hercules Capital, Inc., as agent (“Agent”) and
the Lenders party thereto (collectively, the “Lenders”) 
 In connection with the above referenced Agreement, the Borrower hereby authorizes the
Agent to initiate debit entries for (i) the periodic payments due under the Agreement and (ii) reasonable and documented out-of-pocket legal fees and costs
incurred by Agent or the Lenders pursuant to Section 11.12 of the Agreement to the Borrower’s account indicated below; provided, however, that Agent shall provide Borrower with an invoice of such fees and costs. The Borrower authorizes the
depository institution named below to debit to such account. 
 [IF FILED PUBLICLY, ACCOUNT INFO REDACTED FOR SECURITY PURPOSES] 

 

			
	DEPOSITORY NAME	  	BRANCH
		
	CITY	  	STATE AND ZIP CODE
		
	TRANSIT/ABA NUMBER	  	ACCOUNT NUMBER

 This authority will remain in full force and effect so long as any amounts are due under the Agreement. 

KALEIDO BIOSCIENCES, INC. 
  

	
	By: _________________________________________
	
	Name: _________________________________________
	
	Date: ________________________________________

 EXHIBIT H-1 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Loan and Security Agreement dated as of December 31, 2019 (as amended, supplemented or otherwise modified
from time to time, the “Loan Agreement”) by and among Kaleido Biosciences, Inc., a Delaware corporation, and each of its Qualified Subsidiaries (as defined in the Loan Agreement) (hereinafter collectively referred to as the
“Borrower”), the several banks and other financial institutions or entities from time to time parties to the Loan Agreement (collectively, referred to as the “Lenders”), and Hercules Capital, Inc., a Maryland corporation, in its
capacity as administrative agent and collateral agent for itself and the Lenders (in such capacity, the “Agent”). 
 Pursuant to
the provisions of Addendum 1 of the Loan Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any promissory note(s) evidencing such Loan(s)) in respect of which it is
providing this certificate, (ii) it is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a “ten percent shareholder” of the Borrower within the meaning of
Section 871(h)(3)(B) of the Code and (iv) it is not a “controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Agent and the Borrower with a certificate of its non-U.S. Person
status on IRS Form W-8BEN or IRS Form W-8BEN-E. By executing this certificate, the undersigned agrees that (1) if the
information provided in this certificate changes, or if a lapse in time or change in circumstances renders the information in this certificate obsolete, expired or inaccurate in any material respect, the undersigned shall promptly so inform the
Borrower and the Agent in writing and deliver promptly to the Agent and the Borrower an updated certificate or other appropriate documentation (including any new documentation reasonably requested by the Agent or the Borrower) or promptly notify the
Agent and the Borrower in writing of its legal ineligibility to do so, and (2) the undersigned shall have at all times furnished the Borrower and the Agent with a properly completed and currently effective certificate in either the calendar
year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 
 Unless
otherwise defined herein, terms defined in the Loan Agreement and used herein shall have the meanings given to them in the Loan Agreement. 
  

							
	Date: _____________ ___, 20___	 		 	[NAME OF LENDER]
				
		 		 	By:	 	          

		 		 	Name:	 	  

		 		 	Title:	 	  

 EXHIBIT H-2 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Loan and Security Agreement dated as of December 31, 2019 (as amended, supplemented or otherwise modified
from time to time, the “Loan Agreement”) by and among Kaleido Biosciences, Inc., a Delaware corporation, and each of its Qualified Subsidiaries (as defined in the Loan Agreement) (hereinafter collectively referred to as the
“Borrower”), the several banks and other financial institutions or entities from time to time parties to the Loan Agreement (collectively, referred to as the “Lenders”), and Hercules Capital, Inc., a Maryland corporation, in its
capacity as administrative agent and collateral agent for itself and the Lenders (in such capacity, the “Agent”). 
 Pursuant to
the provisions of Addendum 1 of the Loan Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a
“bank” within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a “ten percent shareholder” of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a
“controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned
has furnished its participating Lender with a certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E. By executing this certificate, the undersigned agrees that (1) if the information provided in this certificate changes, or if a lapse in time or change in circumstances renders the information
in this certificate obsolete, expired or inaccurate in any material respect, the undersigned shall promptly so inform such Lender in writing and deliver promptly to such Lender an updated certificate or other appropriate documentation (including any
new documentation reasonably requested by such Lender) or promptly notify such Lender in writing of its legal ineligibility to do so, and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently
effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Loan Agreement and used herein shall have the meanings given to them in the Loan
Agreement. 
  

							
	Date: _____________ ___, 20___	 		 	[NAME OF PARTICIPANT]
				
		 		 	By:	 	              

		 		 	Name:	 	  

		 		 	Title:	 	  

 EXHIBIT H-3 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Loan and Security Agreement dated as of December 31, 2019 (as amended, supplemented or otherwise modified
from time to time, the “Loan Agreement”) by and among Kaleido Biosciences, Inc., a Delaware corporation, and each of its Qualified Subsidiaries (as defined in the Loan Agreement) (hereinafter collectively referred to as the
“Borrower”), the several banks and other financial institutions or entities from time to time parties to the Loan Agreement (collectively, referred to as the “Lenders”), and Hercules Capital, Inc., a Maryland corporation, in its
capacity as administrative agent and collateral agent for itself and the Lenders (in such capacity, the “Agent”). 
 Pursuant to
the provisions of Addendum 1 of the Loan Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect
partners/members are the sole beneficial owners of such participation, (iii) with respect to such participation, neither the undersigned nor any of its direct or indirect partners/members is a “bank” extending credit pursuant to a
loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a “ten percent shareholder” of the
Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a “controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of
the Code. 
 The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied
by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the
information provided in this certificate changes, or if a lapse in time or change in circumstances renders the information in this certificate obsolete, expired or inaccurate in any material respect, the undersigned shall promptly so inform such
Lender in writing and deliver promptly to such Lender an updated certificate or other appropriate documentation (including any new documentation reasonably requested by the Borrower or the Agent) or promptly notify such Lender in writing of its
legal ineligibility to do so, and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the
undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Loan
Agreement and used herein shall have the meanings given to them in the Loan Agreement. 
  

							
	Date: _____________ ___, 20___	  		  	[NAME OF PARTICIPANT]
				
		  		  	By:	  	          

		  		  	Name:	  	  

		  		  	Title:	  	  

 EXHIBIT H-4 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Loan and Security Agreement dated as of December 31, 2019 (as amended, supplemented or otherwise modified
from time to time, the “Loan Agreement”) by and among Kaleido Biosciences, Inc., a Delaware corporation, and each of its Qualified Subsidiaries (as defined in the Loan Agreement) (hereinafter collectively referred to as the
“Borrower”), the several banks and other financial institutions or entities from time to time parties to the Loan Agreement (collectively, referred to as the “Lenders”), and Hercules Capital, Inc., a Maryland corporation, in its
capacity as administrative agent and collateral agent for itself and the Lenders (in such capacity, the “Agent”). 
 Pursuant to
the provisions of Addendum 1 of the Loan Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the Loan(s) (as well as any promissory note(s) evidencing such Loan(s)) in respect of which it is providing this
certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any promissory note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Loan Agreement
or any other Loan Document, neither the undersigned nor any of its direct or indirect partners/members is a “bank” extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the
meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a “ten percent shareholder” of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its
direct or indirect partners/members is a “controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Agent and the Borrower with IRS Form W-8IMY accompanied by one of
the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form
W-8BEN-E or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned
agrees that (1) if the information provided in this certificate changes, or if a lapse in time or change in circumstances renders the information in this certificate obsolete, expired or inaccurate in any material respect, the undersigned shall
promptly so inform the Borrower and the Agent in writing and deliver promptly to the Borrower and the Agent an updated certificate or other appropriate documentation (including any new documentation reasonably requested by the Borrower or the Agent)
or promptly notify the Borrower and the Agent in writing of its legal ineligibility to do so, and (2) the undersigned shall have at all times furnished the Borrower and the Agent with a properly completed and currently effective certificate in
either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Loan Agreement and used herein shall have the meanings given to them in the Loan
Agreement. 
  

							
	Date: _____________ ___, 20___	  		  	[NAME OF LENDER]
				
		  		  	By:	  	              

		  		  	Name:	  	  

		  		  	Title:	  	  

 SCHEDULE 1.1 

COMMITMENTS 
  

									
	LENDER	  	TRANCHE	 	  	TERM COMMITMENT	 
	 Hercules Capital, Inc.
	  	 	Tranche 1	 	  	$	22,500,000	 
	 Hercules Capital, Inc.
	  	 	Tranche 2	 	  	$	5,000,000	 
	 Hercules Capital, Inc.
	  	 	Tranche 3	 	  	$	7,500,000	* 
	 TOTAL COMMITMENTS
	  				  	$	35,000,000.00	* 

  

	*	 Funding of Tranche 3 is subject to approval by Lender’s investment committee in its sole discretion.

 SCHEDULE 1 

SUBSIDIARIES 
  

	1.	 Cadena Bio, Inc. 

  

	2.	 Kaleido Biosciences Securities Corporation 

 SCHEDULE 1A 

EXISTING PERMITTED INDEBTEDNESS 
  

					
	 Agreement
	  	 Date
	  	 Description of Indebtedness

	Letter of Credit	  	September 24, 2019, as may be replaced to reflect correction of proper beneficiary (subject to the limitations set forth in clause (viii) of the definition of Permitted Indebtedness)	  	Letter of Credit with Square 1 Bank issued in connection with the security deposit requirement under the lease for space at 18 Crosby Drive, Bedford MA in the amount of $117,156.33
			
	Letter of Credit	  	December 16, 2019	  	Letter of Credit with JPMorgan Chase Bank, N.A. issued in connection with the security deposit requirement under the lease for space at 65 Hayden Street, Lexington MA in the amount of $2,057,658.75
			
	Line of Credit	  	Kaleido’s American Express account went effective on October 1, 2018.	  	Line of Credit with American Express issued in connection with the Company’s corporate credit card program in the amount of $1,000,000.00; provided that the amount of any thereunder Indebtedness, together with any other credit
card Indebtedness, shall not exceed the cap set forth in clause (iv) of the definition of Permitted Indebtedness

 SCHEDULE 1B 

EXISTING PERMITTED INVESTMENTS 

Investments held by Kaleido Biosciences, Inc. of 1,000 shares of common stock of Cadena Bio, Inc., par value $0.001. 

Investments held by Kaleido Biosciences, Inc. of 1,000 shares of common stock of Kaleido Biosciences Securities Corporation, par value $0.001. 

 SCHEDULE 1C EXISTING PERMITTED LIENS 

 

					
	 Name of Holder of

Lien/Encumbrance
	  	 Description of Property Encumbered
	  	 Company/Subsidiary

	De Lage Landen Financial Services, Inc.	  	Lien of De Lage Landen Financial Services, Inc. on a leased asset of Kaleido Biosciences, Inc.	  	Kaleido Biosciences, Inc.

 SCHEDULE 5.3 

CONSENTS, ETC. 
 None. 

 SCHEDULE 5.8 

TAX MATTERS 
 None. 

 SCHEDULE 5.9 

INTELLECTUAL PROPERTY CLAIMS 
 None. 

 SCHEDULE 5.10 

INTELLECTUAL PROPERTY 
 None. 

 SCHEDULE 5.11 

BORROWER PRODUCTS 
 None. 

 SCHEDULE 5.14 

CAPITALIZATION 
 [***] 

 SCHEDULE 7.12 

DEPOSIT ACCOUNTS 
  

							
	 Bank Name
	  	 Account Number
	  	 Company/

Subsidiary
	  	 Purpose of Account

	Pacific Western Bank	  	 1001658366
  

1001787199
	  	 Kaleido Biosciences, Inc.
  

Kaleido Biosciences, Inc.
	  	 LC – collateral Bedford facility
  

LC – collateral Lexington facility

				
	Pacific Western Bank Asset Mgmt.	  	 19-SQ79184
  

19-SQ79184A
	  	 Kaleido Biosciences, Inc.
  

Kaleido Securities Corp.
	  	 Former Money Market
  

Former Money Market

				
	Morgan Stanley Asset Mgmt.	  	 233-089616-428

 

233-089711-428
	  	 Kaleido Biosciences, Inc.
  

Kaleido Securities Corp.
	  	 Money Market
  

Money Market

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