Document:

Amended and Restated Investor Rights Agreement

 Exhibit 4.2 
 EXECUTION COPY 
 QUALYS, INC. 

AMENDED AND RESTATED 
 INVESTOR RIGHTS AGREEMENT 
 JULY 12, 2005 

 EXECUTION COPY] 

TABLE OF CONTENTS 
  

							
	 	  	 	  	Page	 
		
	 SECTION 1.         GENERAL
	  	 	2	  
		
	 SECTION 2.         REGISTRATION; RESTRICTIONS ON
TRANSFER
	  	 	3	  
			
	 2.1
	  	 Restrictions on Transfer
	  	 	3	  
	 2.2
	  	 Demand Registration
	  	 	5	  
	 2.3
	  	 Piggyback Registrations
	  	 	6	  
	 2.4
	  	 Form S-3 Registration
	  	 	7	  
	 2.5
	  	 Expenses of Registration
	  	 	8	  
	 2.6
	  	 Obligations of the Company
	  	 	9	  
	 2.7
	  	 Termination of Registration Rights
	  	 	10	  
	 2.8
	  	 Delay of Registration; Furnishing Information
	  	 	11	  
	 2.9
	  	 Indemnification
	  	 	11	  
	 2.10
	  	 Assignment of Registration Rights
	  	 	13	  
	 2.11
	  	 Amendment of Registration Rights
	  	 	13	  
	 2.12
	  	 Limitation on Subsequent Registration Rights
	  	 	14	  
	 2.13
	  	 “Market Stand-Off” Agreement; Agreement to Furnish Information
	  	 	14	  
	 2.14
	  	 Rule 144 Reporting
	  	 	14	  
		
	 SECTION 3.         COVENANTS OF THE COMPANY
	  	 	15	  
			
	 3.1
	  	 Basic Financial Information and Reporting
	  	 	15	  
	 3.2
	  	 Inspection Rights
	  	 	16	  
	 3.3
	  	 Confidentiality of Records
	  	 	16	  
	 3.4
	  	 Reservation of Common Stock
	  	 	17	  
	 3.5
	  	 Stock Vesting
	  	 	17	  
	 3.6
	  	 Proprietary Information and Inventions Agreement
	  	 	17	  
	 3.7
	  	 Assignment of Right of First Refusal
	  	 	17	  
	 3.8
	  	 Operating Budget
	  	 	17	  
	 3.9
	  	 Covenants Related to the Subsidiary
	  	 	17	  
	 3.10
	  	 Termination of Covenants
	  	 	17	  
	 3.11
	  	 Stock Repurchases
	  	 	18	  
		
	 SECTION 4.         RIGHTS TO MAINTAIN PROPORTIONATE
OWNERSHIP
	  	 	18	  
			
	 4.1
	  	 Subsequent Offerings
	  	 	18	  
	 4.2
	  	 Exercise of Rights
	  	 	18	  
	 4.3
	  	 Issuance of Equity Securities to Other Persons
	  	 	19	  
	 4.4
	  	 Termination and Waiver of Rights of First Refusal
	  	 	19	  
	 4.5
	  	 Transfer of Rights of First Refusal
	  	 	19	  
	 4.6
	  	 Excluded Securities
	  	 	19	  

  
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 TABLE OF CONTENTS 

(Continued) 
  

							
	                        	  	 	  	Page	 
		
	 SECTION 5.         MAJOR INVESTOR RIGHT OF CO-SALE
	  	 	19	  
			
	 5.1
	  	 Exercise of Rights
	  	 	19	  
	 5.2
	  	 Subsequent Election to Sell by the Selling Investors
	  	 	20	  
	 5.3
	  	 Closing; Consummation of the Co-Sale
	  	 	21	  
	 5.4
	  	 Seller’s Rights to Transfer
	  	 	21	  
	 5.5
	  	 Conditions To Valid Transfer
	  	 	21	  
	 5.6
	  	 Termination and Waiver of Rights of Co-Sale
	  	 	24	  
		
	 SECTION 6.         MISCELLANEOUS
	  	 	24	  
			
	 6.1
	  	 Governing Law
	  	 	24	  
	 6.2
	  	 Survival
	  	 	24	  
	 6.3
	  	 Successors and Assigns
	  	 	24	  
	 6.4
	  	 Entire Agreement
	  	 	24	  
	 6.5
	  	 Severability
	  	 	24	  
	 6.6
	  	 Amendment and Waiver
	  	 	25	  
	 6.7
	  	 Delays or Omissions
	  	 	25	  
	 6.8
	  	 Notices
	  	 	25	  
	 6.9
	  	 Attorneys’ Fees
	  	 	26	  
	 6.10
	  	 Additional Investors
	  	 	26	  
	 6.11
	  	 Counterparts
	  	 	26	  

  
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 QUALYS, INC. 
 (a Delaware corporation) 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT (the “Agreement”) is entered into as of July 12,
2005, and amends, restates and otherwise, supersedes in its entirety that certain Amended and Restated Investor Rights Agreement dated November 12, 2004, by and among Qualys, Inc. a Delaware corporation (the “Company”); the investors
listed on Exhibit A hereto, referred to hereinafter collectively as the “Investors” and each individually as an “Investor”; provided, however, that for purposes of Sections 4, 5 and 6 hereof only, the Founder
listed on Exhibit A hereto, shall be referred to hereinafter collectively as the “Founders” and each individually as a “Founder” 
 RECITALS 
 WHEREAS, certain of the Investors (the “Prior
Investors”) are holders of the Company’s Series A Preferred Stock (the “Series A Stock”), Series B Preferred Stock (the “Series B Stock”) and Series C Preferred Stock (the “Series C Stock” and, together with
the Series A Stock and Series B Stock, the “Prior Preferred Stock” or the “Preferred Stock”) have previously entered into that certain Amended and Restated Investor Rights Agreement dated November 12, 2004 by and between the
Company and the Prior Investors (the “Prior Agreement”); 
 WHEREAS, certain investors (the “Series C
Warrant Holders”) are purchasing notes and warrants to purchase shares of Series C Stock pursuant to that certain Note and Warrant Purchase Agreement of even date herewith (“2005 Note and Warrant Purchase Agreement”); 

WHEREAS, as consideration for and to induce the Series C Warrant Holders to enter into the 2005 Note and Warrant Purchase
Agreement, the Company and the Prior Investors agree that the Prior Agreement shall be superseded in its entirety by the rights and obligations set forth in this Agreement; and 

WHEREAS, in consideration of the foregoing, the parties desire to enter into this Agreement in order to grant registration,
information rights, and other rights to the Investors as set forth below; 

  
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 NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto mutually agree as follows: 
 SECTION 1.
GENERAL 1.1 Certain Definitions. 
 As used in this Agreement the following terms shall have the following respective
meanings: 
 “Common Stock” means the common stock, par value $0.001, of the Company. 

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

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

“Holder” means any person owning of record Registrable Securities that have not been sold to the public or any assignee of
record of such Registrable Securities in accordance with Section 2.10 hereof. 
 “Initial Offering” means the
Company’s first firm commitment underwritten public offering of its Common Stock registered under the Securities Act at a minimum public offering price per share of $1.20 (as adjusted for any Recapitalizations), which results in gross proceeds
to the Company of $20,000,000 or greater. 
 “Recapitalization” means any stock dividend, combination, split,
recapitalization and the like with respect to shares of capital stock of the Company effected after the date hereof. 

“Register,” “registered,” and “registration” refer to a registration effected by preparing and filing a
registration statement in compliance with the Securities Act, and the declaration or ordering of effectiveness of such registration statement or document. 
 “Registrable Securities” means (a) Common Stock of the Company issued or issuable upon conversion of the Shares; (b) an aggregate of 6,379,937 shares of Common Stock issued or issuable
on exercise of those warrants issued pursuant to the Note and Warrant Purchase Agreements entered into by the Company and the investors named therein between the period commencing on June 7, 2002 and ending on May 9, 2003; (c) shares
of Common Stock of the Company issued or issuable upon the conversion of the shares of Series C Stock exercisable pursuant to Warrants issued in connection with the 2005 Note and Warrant Purchase Agreement (“Series C Warrant Shares”); and
(d) any Common Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right, or other security which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of,
such above-described securities. Notwithstanding the foregoing, Registrable Securities shall not include any securities sold by a person to the public either pursuant to a registration statement or Rule 144 or sold in a private transaction in which
the transferor’s rights under Section 2 of this Agreement are not assigned. 
 “Registrable Securities then
outstanding” shall be the number of shares determined by calculating the total number of shares of the Company’s Common Stock that are Registrable Securities and either (a) are then issued and outstanding or (b) are issuable
pursuant to then exercisable or convertible securities. 

  
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 “Registration Expenses” shall mean all expenses incurred by the Company in
complying with Sections 2.2, 2.3 and 2.4 hereof, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel for the Company, reasonable fees and disbursements of a single special counsel for
the Holders, blue sky fees and expenses and the expense of any special audits incident to or required by any such registration (but excluding the compensation of regular employees of the Company which shall be paid in any event by the Company).

 “SEC” or “Commission” means the Securities and Exchange Commission. 

“Securities Act” shall mean the Securities Act of 1933, as amended. 

“Selling Expenses” shall mean all underwriting discounts and selling commissions applicable to the sale. 

“Shares” shall mean the Company’s Preferred Stock held by the Prior Investors and their permitted assigns. 

“Special Registration Statement” shall mean (i) a registration statement relating to any employee benefit plan or
(ii) with respect to any corporate reorganization or other transaction under Rule 145 of the Securities Act, including any registration statements related to the issuance or resale of securities issued in such a transaction. 

“Transfer” means any sale, assignment, encumbrance, hypothecation, pledge, conveyance in trust, gift, transfer by request,
devise or descent, or other transfer or disposition of any kind, including, but not limited to, transfers to receivers, levying creditors, trustees or receivers in bankruptcy proceedings or general assignees for the benefit of creditors, whether
voluntary or by operation of law, directly or indirectly, of any of the Shares, except for, Transfers to parties which may be assignees of rights pursuant to Section 2.10 hereof. 
 SECTION 2. REGISTRATION; RESTRICTIONS ON TRANSFER 
 2.1 Restrictions on
Transfer. (a) Each Holder agrees not to make any disposition of all or any portion of the Shares or Registrable Securities unless and until: 
 (i) There is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with such registration statement; or 

(ii) (A) The transferee has agreed in writing to be bound by the terms of this Agreement, including without limitation, Sections
2.1 and 2.13 hereof, (B) such Holder shall have notified the Company in writing of the proposed disposition and shall have furnished the 

  
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Company with a detailed statement of the manner and circumstances surrounding the proposed disposition, and (C) if reasonably requested by the Company, such Holder shall have furnished the
Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration of such shares under the Securities Act. It is agreed that the Company will not require opinions of counsel for
transactions made pursuant to Rule 144 except in unusual circumstances. It is further agreed that the subclauses (A) and (B) above shall not apply with respect to transactions made pursuant to Rule 144 after the Company’s initial
public offering. 
 (iii) Notwithstanding the provisions of paragraphs (i) and (ii) above, no such registration
statement or opinion of counsel shall be necessary for a transfer by a Holder which is (A) a partnership to its partners or former partners in accordance with partnership interests, (B) a limited liability company to its members or former
members in accordance with their interest in the limited liability company, or (C) to the Holder’s family member or trust for the benefit of an individual Holder; provided that in each case (x) the transferee will agree in
writing to be subject to the terms of this Agreement to the same extent as if he were an original Holder hereunder and (y) the Holder thereof shall give written notice to the Company of such Holder’s intention to effect such disposition
and shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition. 

(b) Each certificate representing Shares or Registrable Securities shall (unless otherwise permitted by the provisions of the Agreement)
be stamped or otherwise imprinted with a legend substantially similar to the following (in addition to any legend required under applicable state securities laws): 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD
OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS PURSUANT TO REGISTRATION OR AN EXEMPTION THEREFORM OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL
SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED. 
 THE SALE, PLEDGE, HYPOTHECATION OR
TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT BY AND BETWEEN THE STOCKHOLDER AND THE COMPANY. COPIES OF SUCH AGREEMENT MAY BE OBTAINED
UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY. 

  
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 (c) The Holders consent to the Company making a notation on its records and giving
instructions to any transfer agent of the Registrable Securities in order to implement the restrictions on transfer established in this Section 2.1 
 (d) The Company shall be obligated to reissue promptly unlegended certificates at the request of any Holder thereof if the Holder shall have obtained an opinion of counsel (which counsel may be counsel to
the Company) reasonably acceptable to the Company to the effect that the securities proposed to be disposed of may lawfully be so disposed of without registration, qualification or legend. 

(e) Any legend endorsed on an instrument pursuant to applicable state securities laws and the stop-transfer instructions with respect to
such securities shall be removed upon receipt by the Company of an order of the appropriate blue sky authority authorizing such removal. 
 2.2 Demand Registration. (a) Subject to the conditions of this Section 2.2, if the Company shall receive a written request from the Holders of a majority of the Registrable Securities
(the “Initiating Holders”) that the Company file a registration statement under the Securities Act covering the registration, then the Company shall, within thirty (30) days of the receipt thereof, give written notice of such request
to all Holders, and subject to the limitations of this Section 2.2, effect, as expeditiously as reasonably possible, the registration under the Securities Act of all Registrable Securities that the Holders request to be registered. 

(b) If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting, they
shall so advise the Company as a part of their request made pursuant to this Section 2.2 or any request pursuant to Section 2.4 and the Company shall include such information in the written notice referred to in Section 2.2(a) or
Section 2.4(a), as applicable. In such event, the right of any Holder to include its Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such
Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall enter into an underwriting agreement in customary form with the underwriter
or underwriters selected for such underwriting by a majority in interest of the Initiating Holders (which underwriter or underwriters shall be reasonably acceptable to the Company). Notwithstanding any other provision of this Section 2.2 or
Section 2.4, if the underwriter advises the Company that marketing factors require a limitation of the number of securities to be underwritten (including Registrable Securities) then the Company shall so advise all Holders of Registrable
Securities which would otherwise be underwritten pursuant hereto, and the number of shares that may be included in the underwriting shall be allocated to the Holders of such Registrable Securities on a pro rata basis based on the number of
Registrable Securities held by all such Holders (including the Initiating Holders). Any Registrable Securities excluded or withdrawn from such underwriting shall be withdrawn from the registration. 

  
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 (c) The Company shall not be required to effect a registration pursuant to this Section
2.2: 
 (i) prior to the earlier of (A) December 31, 2006 or (B) one hundred eighty (180) days following
the effective date of the registration statement pertaining to the Initial Offering; 
 (ii) after the Company has effected two
(2) registrations pursuant to this Section 2.2, and such registration have been declared or ordered effective; 

(iii) during the period starting with the date of filing of, and ending on the date one hundred eighty (180) days following the
effective date of the registration statement pertaining to a public offering other than pursuant to a Special Registration Statement; provided that the Company makes reasonable good faith efforts to cause such registration statement to become
effective; 
 (iv) if within thirty (30) days of receipt of a written request from Initiating Holders pursuant to
Section 2.2(a), the Company gives notice to the Holders of the Company’s intention to file a registration statement for a public offering other than pursuant to a Special Registration Statement within ninety (90) days; 

(v) if the Company shall furnish to Holders requesting a registration statement pursuant to this Section 2.2, a certificate signed
by the Chairman of the Board stating that in the good faith judgment of the board of directors of the Company (the “Board of Directors”), it would be seriously detrimental to the Company and its stockholders for such registration statement
to be effected at such time, in which event the Company shall have the right to defer such filing for a period of not more than one hundred twenty (120) days after receipt of the request of the Initiating Holders; provided that such
right to delay a request shall be exercised by the Company not more than once in any twelve (12) month period; 
 (vi) if
the Initiating Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3 pursuant to a request made pursuant to Section 2.4 below; or 

(vii) in any particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to
service of process in effecting such registration, qualification or compliance. 
 2.3 Piggyback Registrations.
The Company shall notify all Holders of Registrable Securities in writing at least fifteen (15) days prior to the filing of any registration statement under the Securities Act for purposes of a public offering of securities of the Company
(including, but not limited to, registration statements relating to secondary offerings of securities of the Company, but excluding Special Registration Statements) and will afford each such Holder an opportunity to include in such registration
statement all or part of such Registrable Securities held by such Holder. Each Holder desiring to include in any such registration statement all or any part of the Registrable Securities held by it shall, within fifteen (15) days after the
above-described notice from the Company, so notify the Company in writing. Such notice shall state the intended method of disposition of the Registrable Securities by such Holder. If a Holder decides not to include all of its

  
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 Registrable Securities in any registration statement thereafter filed by the Company, such Holder shall
nevertheless continue to have the right to include any Registrable Securities in any subsequent registration statement or registration statements as may be filed by the Company with respect to offerings of its securities, all upon the terms and
conditions set forth herein. 
 (a) Underwriting. If the registration statement under which the Company gives
notice under this Section 2.3 is for an underwritten offering, the Company shall so advise the Holders of Registrable Securities. In such event, the right of any such Holder to be included in a registration pursuant to this Section 2.3
shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their Registrable
Securities through such underwriting shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by the Company. Notwithstanding any other provision of this Agreement, if the
underwriter determines in good faith that marketing factors require a limitation of the number of shares to be underwritten, the number of shares that may be included in the underwriting shall be allocated, first, to the Company; second, to the
Holders on a pro rata basis based on the total number of Registrable Securities held by such Holders; and third, to any shareholder of the Company (other than a Holder) having registration rights on a pro rata basis. No such reduction
shall reduce the securities being offered by the Company for its own account to be included in the registration and underwriting. If any Holder disapproves of the terms of any such underwriting, such Holder may elect to withdraw therefrom by written
notice to the Company and the underwriter, delivered at least ten (10) business days prior to the effective date of the registration statement. Any Registrable Securities excluded or withdrawn from such underwriting shall be excluded and
withdrawn from the registration. For any Holder which is a partnership or corporation, the partners, retired partners and shareholders of such Holder, or the estates and family members of any such partners and retired partners and any trusts for the
benefit of any of the foregoing person shall be deemed to be a single “Holder,” and any pro rata reduction with respect to such “Holder” shall be based upon the aggregate amount of shares carrying registration rights owned
by all entities and individuals included in such “Holder”, as defined in this sentence. 
 (b) Right to Terminate
Registration. The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2.3 prior to the effectiveness of such registration whether or not any Holder has elected to include
securities in such registration. The Registration Expenses of such withdrawn registration shall be borne by the Company in accordance with Section 2.5 hereof. 
 2.4 Form S-3 Registration. In case the Company shall receive from the Holders of at least 20% of the Registrable Securities a written request or requests that the Company effect a
registration on Form S-3 (or any successor to Form S-3) or any similar short-form registration statement and any related qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or Holders, the
Company will: 
 (a) promptly give written notice of the proposed registration, and any related qualification or compliance, to
all other Holders of Registrable Securities; and 

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

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

(ii) if the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration,
propose to sell Registrable Securities and such other securities (if any) at an aggregate price to the public of less than one million dollars ($1,000,000), or 
 (iii) if within thirty (30) days of receipt of a written request from any Holder or Holders pursuant to this Section 2.4, the Company gives notice to such Holder or Holders of the Company’s
intention to make a public offering within ninety (90) days, other than pursuant to a Special Registration Statement; or 

(iv) if the Company shall furnish to the Holders a certificate signed by the Chairman of the Board of Directors stating that in the good
faith judgement of the Board of Directors, it would be seriously detrimental to the Company and its stockholders for such Form S-3 registration to be effected at such time, in which event the Company shall have the right to defer the filing of the
Form S-3 registration statement for a period of not more than ninety (90) days after receipt of the request of the Holder or Holders under this Section 2.4; provided, that such right to delay a request shall be exercised by the
Company not more than once in any twelve (12) month period, or 
 (v) if the Company has, within the twelve
(12) month period preceding the date of such request, already effected two (2) registrations on Form S-3 for the Holders pursuant to this Section 2.4, or 
 (vi) in any particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification or
compliance. 
 (c) Subject to the foregoing, the Company shall file a Form S-3 registration statement covering the Registrable
Securities and other securities so requested to be registered as soon as practicable after receipt of the request or requests of the Holders. Registrations effected pursuant to this Section 2.4 shall not be counted as demands for registration
or registrations effected pursuant to Sections 2.2 or 2.3, respectively. 
 2.5 Expenses of Registration. Except as
specifically provided herein, all Registration Expenses incurred in connection with any registration, qualification or compliance pursuant to Section 2.2 or any registration under Section 2.3 or Section 2.4 herein shall be borne by
the 

  
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Company. All Selling Expenses related to Registrable Securities incurred in connection with any registrations hereunder, shall be borne by the holders of the securities so registered pro
rata on the basis of the number of shares so registered. The Company shall not, however, be required to pay for expenses of any registration proceeding begun pursuant to Section 2.2 or 2.4, the request of which has been subsequently
withdrawn by the Initiating Holders unless (a) the withdrawal is based upon material adverse information concerning the Company of which the Initiating Holders were not aware at the time of such request or (b) the Holders of a majority of
Registrable Securities agree to forfeit their right to one requested registration pursuant to Section 2.2 or Section 2.4, as applicable, in which event such right shall be forfeited by all Holders. If the Holders are required to pay the
Registration Expenses, such expenses shall be borne by the holders of securities (including Registrable Securities) requesting such registration in proportion to the number of shares for which registration was requested. If the Company is required
to pay the Registration Expenses of a withdrawn offering pursuant to clause (a) above, then the Holders shall not forfeit their rights pursuant to Section 2.2 or Section 2.4 to a demand registration. 

2.6 Obligations of the Company. Whenever required to effect the registration of any Registrable Securities, the Company shall, as
expeditiously as reasonably possible: 
 (a) Prepare and file with the SEC a registration statement with respect to such
Registrable Securities and use all reasonable commercial efforts to cause such registration statement to become effective, and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep such registration
statement effective for up to sixty (60) days or, if earlier, until the Holder or Holders have completed the distribution related thereto. Notwithstanding any other provision of this Agreement, such Holder or Holders understand that there may
be periods during which the Company’s Board of Directors may determine, in good faith, that it is in the best interest of the Company and its stockholders to defer disclosure of non-public information until such information has reached a more
advanced stage and that during such periods sales of Registrable Securities and the effectiveness of any registration statement covering Registrable Securities may be suspended or delayed. Such Holder or Holders agree that upon receipt of any notice
from the Company of the development of any non-public information, such Holder or Holders will forthwith discontinue such Holder’s or Holders’ disposition of Registrable Securities pursuant to the registration statement relating to such
Registrable Securities until such Holder’s or Holders’ receipt of copies of an appropriately supplemented or amended prospectus and, if so directed by the Company, such Holder or Holders will use commercially reasonable efforts to deliver
to the Company (at the Company’s expense) all copies, other than permanent file copies then in such Holder’s or Holders’ possession, of the prospectus relating to such Registrable Securities current at the time of receipt of such
notice. In the event the Company shall give any such notice, the applicable time period during which a Registration Statement is to remain effective shall be extended by the number of days during the period from and including the date of the giving
of such notice to and including the date when each seller of a Registrable Security covered by such registration statement shall have received the copies of the appropriate supplemented or amended prospectus. The Company shall not be required to
file, cause to become effective or maintain the effectiveness of any registration statement that contemplates a distribution of securities on a delayed or continuous basis pursuant to Rule 415 under the Securities Act. 

  
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 (b) Prepare and file with the SEC such amendments and supplements to such registration
statement and the prospectus used in connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement for the
period set forth in paragraph (a) above. 
 (c) Furnish to the Holders such number of copies of a prospectus, including a
preliminary prospectus, in conformity with the requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them. 

(d) Use its reasonable commercial efforts to register and qualify the securities covered by such registration statement under such other
securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Holders; provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a
general consent to service of process in any such states or jurisdictions. 
 (e) In the event of any underwritten public
offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter(s) of such offering. Each Holder participating in such underwriting shall also enter into and perform its
obligations under such an agreement. 
 (f) Notify each Holder of Registrable Securities covered by such registration statement
at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue
statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. The Company will use reasonable efforts to amend
or supplement such prospectus in order to cause such prospectus not to include any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the
light of the circumstances then existing. 
 (g) Use its reasonable efforts to furnish, on the date that such Registrable
Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters, (i) an opinion, dated as of such date, of the counsel representing the Company for the purposes of such registration, in form and
substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and (ii) a “comfort” letter dated as of such date, from the independent certified public accountants of the
Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering addressed to the underwriters. 

2.7 Termination of Registration Rights. All registration rights granted under this Section 2 shall terminate and be of no
further force and effect five (5) years after the date of the Company’s Initial Offering. In addition, a Holder’s registration rights shall expire if (a) the Company has completed its Initial Offering and is subject to the
provisions of the Exchange Act, (b) such Holder (together with its affiliates, partners and former partners) holds less than 1 % of the 

  
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Company’s outstanding Common Stock (treating all shares of convertible Preferred Stock on an as converted basis), or (c) all Registrable Securities held by and issuable to such Holder
(and its affiliates, partners, former partners, members and former members) may be sold under Rule 144 (without regard to Rule 144(k)) during any ninety (90) day period. In the event Rule 144 ceases to be available, the Company shall continue
to be obligated to take action under Section 2.2 until five years after the date of the Company’s Initial Offering. 

2.8 Delay of Registration; Furnishing Information. 
 (a) No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any such registration as the result of any controversy that might arise with respect to the
interpretation or implementation of this Section 2. 
 (b) It shall be a condition precedent to the obligations of the
Company to take any action pursuant to Section 2.2, 2.3 or 2.4 that the selling Holders shall furnish to the Company such information regarding themselves, the Registrable Securities held by them and the intended method of disposition of such
securities as shall be required to effect the registration of their Registrable Securities. 
 (c) The Company shall have no
obligation with respect to any registration requested pursuant to Section 2.2 or Section 2.4 if, due to the operation of subsection 2.2(b), the number of shares or the anticipated aggregate offering price of the Registrable Securities to
be included in the registration does not equal or exceed the number of shares or the anticipated aggregate offering price required to originally trigger the Company’s obligation to initiate such registration as specified in Section 2.2 or
Section 2.4, whichever is applicable. 
 2.9 Indemnification. In the event any Registrable Securities are
included in a registration statement under Sections 2.2, 2.3 or 2.4: 
 (a) To the extent permitted by law, the Company will
indemnify and hold harmless each Holder, the partners, officers, directors, and members of each Holder, any underwriter (as defined in the Securities Act) for such Holder and each person, if any, who controls such Holder or underwriter within the
meaning of the Securities Act or the Exchange Act, against any losses, claims, damages, or liabilities (joint or several) to which they may become subject under the Securities Act, the Exchange Act or other federal or state law, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively a “Violation”) by the Company: (i) any untrue statement or
alleged untrue statement of a material fact contained in such registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to
state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities
law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law in connection with the offering covered by such registration statement; and the Company will pay as incurred to each such Holder,
partner, officer, director, underwriter or 

  
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controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided
however, that the indemnity agreement contained in this Section 2.9(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company,
which consent shall not be unreasonably withheld, nor shall the Company be liable in any such case for any such loss, claim, damage, liability or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon
and in conformity with written information furnished expressly for use in connection with such registration by such Holder, partner, officer, director, underwriter or controlling person of such Holder. 

(b) To the extent permitted by law, each Holder will, if Registrable Securities held by such Holder are included in the securities as to
which such registration qualifications or compliance is being effected, indemnify and hold harmless the Company, each of its directors, its officers and each person, if any, who controls the Company within the meaning of the Securities Act, any
underwriter and any other Holder selling securities under such registration statement or any of such other Holder’s partners, directors, officers, or members or any person who controls such Holder, against any losses, claims, damages or
liabilities (joint or several) to which the Company or any such director, officer, controlling person, underwriter or other such Holder, or partner, director, officer, or member, or controlling person of such other Holder may become subject under
the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the
extent) that such Violation occurs in reliance upon and in conformity with written information furnished by such Holder under an instrument duly executed by such Holder and stated to be specifically for use in connection with such registration; and
each such Holder will pay as incurred any legal or other expenses reasonably incurred by the Company or any such director, officer, controlling person, underwriter or other Holder, or partner, officer, director, or member, or controlling person of
such other Holder in connection with investigating or defending any such loss, claim, damage, liability or action if it is judicially determined that there was such a Violation; provided, however, that the indemnity agreement contained in
this Section 2.9(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld;
provided further, that in no event shall any indemnity and contribution (in the aggregate) under this Section 2.9 exceed the net proceeds from the offering received by such Holder. 

(c) Promptly after receipt by an indemnified party under this Section 2.9 of notice of the commencement of any action (including any
governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 2.9, deliver to the indemnifying party a written notice of the commencement thereof and the
indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the
parties; provided, however, that an indemnified party shall have the right to retain its own counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the
indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party 

  
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and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such
action, if materially prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.9, but the omission so to deliver written notice to the indemnifying
party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 2.9. 
 (d) If the indemnification provided for in this Section 2.9 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any losses, claims, damages or
liabilities referred to herein, the indemnifying party, in lieu of indemnifying such indemnified party thereunder, shall to the extent permitted by applicable law contribute to the amount paid or payable by such indemnified party as a result of such
loss, claim, damage or liability in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with the Violation(s) that resulted in such loss,
claim, damage or liability, as well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by a court of law by reference to, among other things, whether the
untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission; provided, that in no event shall any contribution and indemnity (in the aggregate) by a Holder hereunder exceed the net proceeds from the offering received by such
Holder. 
 (e) The obligations of the Company and Holders under this Section 2.9 shall survive completion of any offering
of Registrable Securities in a registration statement and the termination of this agreement. No indemnifying party, in the defense of any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any
judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation. 

2.10 Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this
Section 2 may be assigned by a Holder to a transferee or assignee of Registrable Securities which (a) is a subsidiary, parent, general partner, limited partner, retired partner, member or retired member of a Holder, (b) is a
Holder’s family member or trust for the benefit of an individual Holder, or (c) acquires at least 500,000 shares of Registrable Securities (as adjusted for any Recapitalizations); provided, however, (i) the transferor shall,
within ten (10) days after such transfer, furnish to the Company written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being assigned and (ii) such
transferee shall agree to be subject to all restrictions set forth in this Agreement. 
 2.11 Amendment of Registration
Rights. Any provision of this Section 2 may be amended and the observance thereof may be waived (either generally or in a particular instance and 

  
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either retroactively or prospectively), only with the written consent of the Company and the Holders of at least a majority of the Registrable Securities then outstanding. Any amendment or waiver
effected in accordance with this Section 2.11 shall be binding upon each Holder and the Company. By acceptance of any benefits under this Section 2, Holders of Registrable Securities hereby agree to be bound by the provisions hereunder.

 2.12 Limitation on Subsequent Registration Rights. Other than as provided in Section 6.10, after the date of this
Agreement, the Company shall not, without the prior written consent of the Holders holding at least a majority of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective holder of any securities of the
Company that would grant such holder registration rights senior to those granted to the Holders hereunder. 
 2.13
“Market Stand-Off” Agreement; Agreement to Furnish Information. Each Holder hereby agrees that such Holder shall not sell, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar
transaction with the same economic effect as a sale, any Common Stock (or other securities) of the Company held by such Holder (other than those included in the registration and other than after-market acquired shares) for a period specified by the
representative of the underwriters of Common Stock (or other securities) of the Company not to exceed one hundred eighty (180) days following the effective date of a registration statement of an underwritten public offering of the Company
(ninety (90) days if an offering other than the Company’s initial underwritten public offering); provided that all officers and directors of the Company enter into similar agreements and the Company uses all reasonable efforts to
obtain similar agreements from all other holders of at least 1% of the Company’s voting securities; and provided further that Holders may distribute securities of the Company to partners or members of the Holder if such partners or
members agree to be bound by this Section 2.13. 
 Each Holder agrees to execute and deliver such other agreements as may
be reasonably requested by the Company or the underwriter that are consistent with the Holders obligations under this Section 2.13 or that are necessary to give further effect thereto. In addition, if requested by the Company or the
representative of the underwriters of Common Stock (or other securities) of the Company, each Holder shall provide, within ten (10) days of such request, such information as may be required by the Company or such representative in connection
with the completion of any public offering of the Company’s securities pursuant to a registration statement filed under the Securities Act. The obligations described in this Section 2.13 shall not apply to a Special Registration Statement.
The Company may impose stop-transfer instructions with respect to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of said one hundred eighty (180) day period. Each Holder agrees that any
transferee of any shares of Registrable Securities shall be bound by this Section 2.13. 
 2.14 Rule 144 Reporting.
With a view to making available to the Holders the benefits of certain rules and regulations of the SEC which may permit the sale of the Registrable Securities to the public without registration, the Company agrees to use its best commercial efforts
to: 
 (a) Make and keep public information available, as those terms are understood and defined in SEC Rule 144 or any similar
or analogous rule promulgated under the Securities Act, at all times after the effective date of the first registration filed by the Company for an offering of its securities to the general public; 

  
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 (b) File with the SEC, in a timely manner, all reports and other documents required of the
Company under the Exchange Act; and 
 (c) So long as a Holder owns any Registrable Securities, furnish to such Holder forthwith
upon request: (i) a written statement by the Company as to its compliance with the reporting requirements of said Rule 144 of the Securities Act, and of the Exchange Act (at any time after it has become subject to such reporting requirements);
(ii) a copy of the most recent annual or quarterly report of the Company filed with the SEC; and (iii) such other reports and documents as a Holder may reasonably request in connection with availing itself of any rule or regulation of the
SEC allowing it to sell any such securities without registration. 
 SECTION 3. COVENANTS OF THE COMPANY 

3.1 Basic Financial Information and Reporting. (a) The Company will maintain true books and records of account in which full and
correct entries will be made of all its business transactions pursuant to a system of accounting established and administered in accordance with generally accepted accounting principles consistently applied, and will set aside on its books all such
proper accruals and reserves as shall be required under generally accepted accounting principles consistently applied. 
 (b) So
long as an, Investor (together with its affiliated investment entities) shall own not less than three million eight hundred thousand (3,800,000) shares of Registrable Securities (as adjusted for any Recapitalizations) (a “Major
Investor”), as soon as practicable after the end of each fiscal year of the Company, and in any event within one hundred twenty (120) days thereafter, to the extent requested by an Investor the Company will furnish each Major Investor a
balance sheet of the Company, as at the end of such fiscal year, and a statement of income and a statement of cash flows of the Company, for such year, all prepared in accordance with generally accepted accounting principles consistently applied and
setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail. Such financial statements shall be accompanied by a report and opinion thereon by independent public accountants of national standing
selected by the Company’s Board of Directors. 
 (c) The Company will furnish each Major Investor, as soon as practicable
after the end of the first, second and third quarterly accounting periods in each fiscal year of the Company, and in any event within forty-five (45) days thereafter, to the extent requested by a Major Investor, a balance sheet of the Company
as of the end of each such quarterly period, and a statement of income and a statement of cash flows of the Company for such period and for the current fiscal year to date, prepared in accordance with generally accepted accounting principles, with
the exception that no notes need be attached to such statements and year-end audit adjustments may not have been made. 

  
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 (d) To the extent requested by a Major Investor that has a designee appointed to the
Company’s Board of Directors, the Company will furnish each such Major Investor (i) at least thirty (30) days prior to the beginning of each fiscal year an annual budget and operating plans for such fiscal year (and as soon as
available, any subsequent revisions thereto); and (ii) as soon as practicable after the end of each month, and in any event within twenty (20) days thereafter, a balance sheet of the Company as of the end of each such month, and a
statement of income and a statement of cash flows of the Company for such month and for the current fiscal year to date, including a comparison to plan figures for such period, prepared in accordance with generally accepted accounting principles
consistently applied, with the exception that no notes need be attached to such statements and year-end audit adjustments may not have been made. 
 3.2 Inspection Rights. Each Major Investor shall have the right to visit and inspect any of the properties of the Company or any of its subsidiaries, and to discuss the affairs, finances and
accounts of the Company or any of its subsidiaries with its officers, and to review such information as is reasonably requested all at such reasonable times and as often as may be reasonably requested; provided, however, that the Company
shall not be obligated under this Section 3.2 with respect to a competitor of the Company or with respect to information which the Board of Directors determines in good faith is confidential or attorney-client privileged (following consultation with
counsel) and should not, therefore, be disclosed. 
 3.3 Confidentiality of Records. Each Investor agrees to use,
and to use its best efforts to ensure that its authorized representatives use, the same degree of care as such Investor uses to protect its own confidential information to keep confidential any information furnished to it which the Company
identifies as being confidential or proprietary (so long as such information is not in the public domain), except that such Investor may disclose such proprietary or confidential information to any partner, subsidiary or parent of such Investor for
the purpose of evaluating its investment in the Company as long as such partner, subsidiary or parent is advised of the confidentiality provisions of this Section 3.3. 
 Notwithstanding anything herein to the contrary, any party to this Agreement (and any employee, representative, or other agent of any party to this Agreement) may disclose to any and all persons, without
limitation of any kind, the tax treatment and tax structure of the transactions contemplated by this Agreement and all materials of any kind (including opinions or other tax analyses) that are provided to it relating to such tax treatment and tax
structure; and, that such disclosure may also be made to the extent reasonably necessary to comply with any applicable federal or state securities laws. For the purposes of the foregoing sentence, (i) the “tax treatment” of a
transaction means the purported or claimed federal income tax treatment of the transaction, and (ii) the “tax structure” of a transaction means any fact that may be relevant to understanding the purported or claimed federal income tax
treatment of the transaction. 
 Thus, for the avoidance of doubt, the parties acknowledge and agree that the tax treatment and
tax structure of any transaction does not include the name of any party to a transaction or any sensitive business information (including, without limitation, the name and other specific information about any party’s intellectual property or
other proprietary assets) unless such information may be related or relevant to the purported or claimed federal income tax treatment of the transaction. 

  
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 3.4 Reservation of Common Stock. The Company will at all times reserve and keep
available, solely for issuance and delivery upon the conversion of the Preferred Stock, all Common Stock issuable from time to time upon such conversion. 
 3.5 Stock Vesting. Unless otherwise approved by the Board of Directors, all stock options and other stock equivalents issued after the date of this Agreement to employees, directors, consultants
and other service providers shall be subject to vesting as follows: (a) twenty-five percent (25%) of such stock shall vest at the end of the first year following the earlier of the date of issuance or such person’s services
commencement date with the company, and (b) seventy-five percent (75%) of such stock shall vest ratably over the remaining three (3) years. With respect to any shares of stock purchased by any such person, the Company’s
repurchase option shall provide that upon such person’s termination of employment or service with the Company, with or without cause, the Company or its assignee (to the extent permissible under applicable securities laws and other laws) shall
have the option to purchase at cost any unvested shares of stock held by such person. 
 3.6 Proprietary Information and
Inventions Agreement. The Company shall require all employees and consultants to execute and deliver a Proprietary Information and Inventions Agreement in the form attached to the Purchase Agreement. 

3.7 Assignment of Right of First Refusal. In the event the Company elects not to exercise any right of first refusal or right of
first offer the Company may have on a proposed transfer of any of the Company’s outstanding capital stock pursuant to the Company’s charter documents, by contract or otherwise, the Company shall, to the extent it may do so, assign such
right of first refusal or right of first offer to the Major Investors. In the event of such assignment, each Major Investor shall have a right to purchase its pro rata portion (as defined in Section 4.1) of the capital stock proposed to
be transferred. 
 3.8 Operating Budget. The Board of Directors shall receive and approve an operating budget for the
Company prior to the commencement of each fiscal year. 
 3.9 Covenants Related to the Subsidiary. The Company shall
(i) cause Qualys Technologies, a French societe anonyme (the “Subsidiary”) to refrain from issuing additional shares of its capital stock or from transferring all or any material assets (including material intellectual property
assets and rights), and (ii) not transfer any of its assets (including intellectual property assets and rights) or cash (except for ordinary course expenses such as payroll and rent) to the Subsidiary, in each case without the prior approval of
the Board (including at least one of the representatives of the Board appointed by the holders of Series B Stock). 
 3.10
Termination of Covenants. All covenants of the Company contained in Section 3 of this Agreement shall expire and terminate as to each Investor upon the earlier of (i) immediately prior to the closing of the Initial Offering or
(ii) upon an Acquisition or Asset Transfer, each as 

  
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defined in the Company’s Amended and Restated Certificate of Incorporation (the “Restated Certificate”) as in effect on the date hereof (each, a “Change in
Control”)(unless the liquidation preference of the Holders in respect of such Change in Control is waived by the holders of Series C Stock and Series B Stock, respectively, pursuant to Article IV, Section (F)(3)(e)(i) or (ii) (as
applicable) of the Restated Certificate (as applicable, a “Liquidation Waiver”)). 
 3.11 Stock
Repurchases. The Company shall not effect a repurchase or redemption of any shares of its capital stock other than (x) acquisitions of common stock issued to or held by employees, officers, directors or consultants of the Company or
its subsidiaries upon termination of their employment or services pursuant to agreements providing for the right of said repurchase at cost (or the lesser of cost or fair market value) and (y) repurchases of securities having a value
(i) in the case of repurchases from any individual stockholder, of $100,000 or less as such repurchases are aggregated in any one (1) year period, and (ii) in the case of repurchases from all stockholders, of $250,000 or less as such
repurchases are aggregated in any one (1) year period, without the prior approval of the Board (including at least one of the representatives of the Board appointed by the holders of Series B Stock). 

SECTION 4. RIGHTS TO MAINTAIN PROPORTIONATE OWNERSHIP 
 4.1 Subsequent Offerings. Each Major Investor and Philippe Courtot (the “Founder”) shall have a right of first refusal to purchase its pro rata share of all Equity
Securities, as defined below, that the Company may, from time to time, propose to sell and issue after the date of this Agreement, other than the Equity Securities excluded by Section 4.6 hereof. Each Major Investor and Founder’s pro
rata share is equal to the ratio of (a) the number of shares of the Company’s Common Stock (including all shares of Common Stock issued or issuable upon conversion of the Shares) which such Major Investor or Founder is deemed to be a holder
immediately prior to the issuance of such Equity Securities to (b) the total number of shares of the Company’s outstanding Common Stock (including all shares of Common Stock issued or issuable upon conversion of the Shares or upon the
exercise of any outstanding warrants or options) immediately prior to the issuance of the Equity Securities. The term “Equity Securities” shall mean (i) any Common Stock, Preferred Stock or other equity security of the Company,
(ii) any security convertible, with or without consideration, into any Common Stock, Preferred Stock or other security of the Company (including any option to purchase such a convertible security), (iii) any security carrying any warrant
or right to subscribe to or purchase any Common Stock, Preferred Stock or other equity security of the Company or (iv) any such warrant or right of the Company. 
 4.2 Exercise of Rights. If the Company proposes to issue any Equity Securities, it shall give each Major Investor and Founder written notice of its intention, describing the Equity
Securities, the price and the terms and conditions upon which the Company proposes to issue the same. Each Major Investor and Founder shall have fifteen (15) days from the giving of such notice to agree to purchase up to its pro rata
share of the Equity Securities for the price and upon the terms and conditions specified in the notice by giving written notice to the Company and stating therein the quantity of Equity Securities to be purchased. Notwithstanding the foregoing, the
Company shall not be required to offer or sell such Equity Securities to any Major Investor or Founder who would cause the Company to be in violation of applicable federal securities laws by virtue of such offer or sale. 

  
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 4.3 Issuance of Equity Securities to Other Persons. If not all of the Major
Investors and Founder elect to purchase their pro rata share of the Equity Securities, then the Company shall promptly notify in writing the Major Investors and Founder who do so elect and shall offer such Major Investors and Founder the
right to acquire such unsubscribed shares. The Major Investors and Founder shall have five (5) days after receipt of such notice to notify the Company of its election to purchase all or a portion thereof of the unsubscribed shares. If the Major
Investors or Founder fail to exercise in full the rights of first refusal, the Company shall have ninety (90) days thereafter to sell the Equity Securities in respect of which the Major Investors’ and Founder’s rights were not
exercised, at a price and upon general terms and conditions materially no more favorable to the purchasers thereof than specified in the Company’s notice to the Major Investors and Founder pursuant to Section 4.2 hereof. If the Company has
not sold such Equity Securities within ninety (90) days of the notice provided pursuant to Section 4.2, the Company shall not thereafter issue or sell any Equity Securities, without first offering such securities to the Major Investors and
Founder in the manner provided above. 
 4.4 Termination and Waiver of Rights of First Refusal. The rights of
first refusal established by this Section 4 shall not apply to, and shall terminate upon the earlier of (i) effective date of the registration statement pertaining to the Company’s Initial Offering or (ii) a Change in Control
(unless there has occurred as Liquidation Waiver). The rights of first refusal established by this Section 4 may be amended, or any provision waived with the written consent of Major Investors holding a majority of the Registrable Securities
held by all Major Investors, or as permitted by Section 6.6. 
 4.5 Transfer of Rights of First Refusal. The
rights of first refusal of each Major Investor and Founder under this Section 4 may be transferred to or amongst the same parties, subject to the same restrictions as any transfer of registration rights pursuant to Section 2.10.

 4.6 Excluded Securities. The rights of first refusal established by this Section 4 shall have no
application to any issuances of Equity Securities excluded from the definition of “Additional Shares of Common Stock” pursuant to Article IV, Section 4(i) (iv) of the Company’s Restated Certificate. 

SECTION 5. MAJOR INVESTOR RIGHT OF CO-SALE 
 5.1 Exercise of Rights. (a) If a Major Investor (the “Seller”) proposes to Transfer any equity securities of the Company it holds, then the Seller shall promptly give written notice (the
“Notice”) simultaneously to the Company and to each of the other Major Investors at least forty-five (45) days prior to the closing of such Transfer. The Notice shall describe in reasonable detail the proposed Transfer including,
without limitation, the type and amount of the equity securities proposed to be Transferred by the Seller (the “Offered Shares”), the nature of such Transfer, the consideration to be paid (the “Offered Price”), and the name and
address of each prospective purchaser or transferee (the “Proposed Transferee”). 

  
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 (b) Subject to the limitations of this Section 5, each Major Investor shall have the
right to participate in such sale of the Offered Shares on the same terms and conditions as specified in the Notice. To exercise its rights hereunder, each Major Investor other than the Seller (a “Selling Investor”) must have provided a
written notice to Seller within fifteen (15) days after receipt of the Notice (the “Initial Exercise Period”) indicating the number of shares it holds that it wishes to sell pursuant to this Section 5.1(b). 

(c) If the aggregate number of shares that the Selling Investors desire to sell (as evidenced by written notices delivered to Seller)
exceeds the number of Offered Shares, each Selling Investor will be entitled to sell up to its pro rata share of the Offered Shares which shall be equal to that number of Offered Shares equal to the product obtained by multiplying (x) the
number of Offered Shares by (y) a fraction, (i) the numerator of which shall be the number of shares of Common Stock (including all shares of Common Stock issued or issuable upon conversion of the Shares or upon the exercise of any
outstanding warrants or options) held on the date of the Notice by such Selling Investor and (ii) the denominator of which shall be the number of shares of Common Stock (including all shares of Common Stock issued or issuable upon conversion of
the Shares or upon the exercise of any outstanding warrants or options) held on the date of the Notice by Seller and the Selling Investors (“Pro Rata Co-Sale Share”). 

(d) Within ten (10) days after the Selling Investors have provided the notice specified in Section 5.1(b) to the Seller, Seller
will give written notice to the Company and each Selling Investor specifying the number of Offered Shares to be sold by each Selling Investor exercising its Right of Co-Sale (the “Co-Sale Confirmation Notice”). The Co-Sale Confirmation
Notice shall also specify the number of Offered Shares not offered by the Selling Investors, if any, pursuant to Section 5 hereof (the “Unsubscribed Offered Shares”). 

5.2 Subsequent Election to Sell by the Selling Investors. To the extent that there remain any Unsubscribed Offered Shares,
each Selling Investor electing to exercise its right to sell at least its full Pro Rata Co-Sale Share of the Offered Shares under Section 5.1(c) hereof (a “Participating Co-Sale Investor”) shall have a right to sell all or any part of
the Unsubscribed Offered Shares; however, to the extent the aggregate number of additional shares that the Participating Co-Sale Investors desire to sell (as evidenced in written notices delivered to the Seller) exceeds the Unsubscribed Offered
Shares, each Participating Co-Sale Investor so exercising (an “Electing Participating Co-Sale Investor”) will be entitled to sell that number of the Unsubscribed Offered Shares equal to the product obtained by multiplying (x) the
number of Unsubscribed Offered Shares by (y) a fraction, (i) the numerator of which shall be the number of shares of Common Stock (including all shares of Common Stock issued or issuable upon conversion of the Shares or upon the exercise
of any outstanding warrants or options) held by such Electing Participating Co-Sale Investor on the date of the Notice and (ii) the denominator of which shall be the number of shares of Common Stock (including all shares of Common Stock issued
or issuable upon conversion of the Shares or upon the exercise of any outstanding warrants or options) held on the date of the Notice by all Electing Participating Co-Sale Investors (“Subsequent Pro Rata Co-Sale Share”). In order to
exercise its rights hereunder, such Electing Participating Co-Sale Investor must provide written notice to Seller with a copy to the Company and each Major Investor within ten (10) days after the date of the Co-Sale Confirmation Notice (the
“Subsequent Co-Sale Period”). 

  
 -20-

 5.3 Closing; Consummation of the Co-Sale. Subject to compliance with
applicable state and federal securities laws, the sale of the Offered Shares by the Selling Investors shall occur within five (5) days after the later of (i) delivery of the Co-Sale Confirmation Notice and (ii) expiration of the
Subsequent Co-Sale Period (the “Co-Sale Closing”). If a Selling Investor exercised the Right of Co-Sale in accordance with this Section 5, then such Selling Investor shall deliver to Seller at or before the Co-Sale Closing, one or
more certificates, properly endorsed for Transfer, representing the number of Offered Shares to which the Selling Investor is entitled to sell pursuant to this Section 5. At the Co-Sale Closing, Seller shall cause such certificates or other
instruments to be Transferred and delivered to the Transferee pursuant to the terms and conditions specified in the Notice, and Seller will remit, or will cause to be remitted, to each Selling Investor, at the Co-Sale Closing, that portion of the
proceeds of the Transfer to which each Selling Investor is entitled by reason of each Selling Investor’s participation in such Transfer pursuant to the Right of Co-Sale. 
 5.4 Seller’s Rights to Transfer. If any of the Offered Shares remain available after the exercise of all Rights of Co-Sale, then the Seller shall be free to Transfer, any such remaining
shares to the Proposed Transferee at the Offered Price or a higher price in accordance with the terms set forth in the Notice; provided, however, that if the Offered Shares are not so Transferred during the ninety (90) day period
following the deemed delivery of the Notice, then Seller may not Transfer any of such remaining Offered Shares without complying again in full with the provisions of this Agreement. 

5.5 Conditions To Valid Transfer. 
 (a) Generally. Any attempt by any Seller to Transfer any Shares in violation of any provision of this Agreement will be void. No securities shall be transferred by Seller unless
(i) such Transfer is made in compliance with all of the terms of this Agreement and all applicable federal and state securities laws and (ii) prior to such Transfer, the transferee or transferees sign a counterpart to this Agreement
pursuant to which it or they agree to be bound by the terms of this Agreement. The Company will not be required to (i) transfer on its books any shares that have been sold, gifted or otherwise Transferred in violation of any provisions of this
Agreement or (ii) to treat as owner of such shares, or accord the right to vote or pay dividends to any purchaser, donee or other transferee to whom such shares may have been so Transferred. 

(b) Put Right. If a Seller Transfers any equity securities of the Company in contravention of the Right of Co-Sale under
this Agreement (a “Prohibited Transfer”), or if the Proposed Transferee of Offered Shares desires to purchase a class, series or type of stock offered by Seller but not held by a Selling Investor, or the Proposed Transferee is unwilling to
purchase any securities from a Selling Investor, such Selling Investor may, by delivery of written notice to such Seller (a “Put Notice”) within ten (10) days after the later of (i) the Co-Sale Closing and (ii) the date on
which such Selling Investor becomes aware of the Prohibited Transfer or the terms thereof, require such Seller to purchase from such Selling Investor that number of shares of Preferred Stock 

  
 -21-

 
(on an as-converted basis) or Common Stock subject to this Section 5.5 that is equal to the number of Shares such Selling Investor would have been entitled to Transfer to the Proposed
Transferee (the “Put Shares”). Such sale shall be made on the following terms and conditions: 
 (i) The price per
share at which the Put Shares are to be sold to Seller shall be equal to the price per share that the Selling Investor would have received at the Co-Sale Closing of such Prohibited Transfer if such Selling Investor had sold such Put Shares at the
Co-Sale Closing. Such purchase price of the Put Shares shall be paid in cash or such other consideration as Seller received in the Prohibited Transfer or at the Co-Sale Closing. Seller shall also reimburse the Selling Investor for any and all fees
and expenses, including, but not limited to, legal fees and expenses, incurred pursuant to the exercise or attempted exercise of such Selling Investor’s Rights of Co-Sale pursuant to Section 5 or in the exercise of its rights under this
Section 5.5 with respect to the Put Shares. 
 (ii) The Put Shares to be sold to Seller shall be of the same class or type
as Transferred in the Prohibited Transfer or at the Co-Sale Closing if such Selling Investor then owns securities of such class or type. If such Selling Investor does not own any of such class or type, the Put Shares shall be shares of Common Stock
(or Preferred Stock convertible into Common Stock at the option of the holder thereof). The closing of such sale to Seller will occur within ten (10) days after the date of such Selling Investor’s Put Notice to such Seller. At such
closing, the Selling Investor shall deliver to Seller the certificate or certificates representing the Put Shares to be sold, each certificate to be properly endorsed for transfer, and immediately upon receipt thereof, such Seller shall pay the
aggregate purchase price therefor, and the amount of reimbursable fees and expenses, as specified in Section 5.5(b)(i). 

(c) Restrictive Legend and Stop Transfer Orders. 
 (i) Legend. Each Major Investor understands and agrees that the Company will cause the legend set forth below, or a legend substantially equivalent thereto, to be placed upon any
certificate(s) or other documents or instruments evidencing ownership of Seller Shares by such: 
 THE SHARES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO AND MAY ONLY BE SOLD, DISPOSED OF OR OTHERWISE TRANSFERRED IN COMPLIANCE WITH CERTAIN RIGHTS OF FIRST REFUSAL AND CO-SALE AS SET FORTH IN AN AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT ENTERED INTO BY THE HOLDER OF
THESE SHARES, THE COMPANY AND CERTAIN STOCKHOLDERS OF THE COMPANY. A COPY OF SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY. SUCH RIGHTS OF CO-SALE ARE BINDING ON TRANSFEREES OF THESE SHARES. 

(ii) Stop Transfer Instructions. In order to ensure compliance with the restrictions referred to herein, each Seller
agrees that the Company may issue appropriate “stop transfer” certificates or instructions in the event of a Transfer in violation of any provision of this Agreement and that it may make appropriate notations to the same effect in its
records. 

  
 -22-

 (d) Exempt Transfers. 

(i) Notwithstanding the foregoing, the co-sale rights of the Major Investors set forth in Section 5 shall not apply to (a) any
transfer or transfers by a Major Investor of securities having a value (x) in the case of any individual Major Investor, of $200,000 or less as such transfers are aggregated in any one (1) year period and (y) in the case of all Major
Investors, of $500,000 or less as such transfers are aggregated in any one (1) year period, (b) any transfers for no value of Equity Securities of the Company by a Major Investor to a Major Investor’s partners, spouse, ex-spouse,
domestic partner, lineal descendant or antecedent, brother or sister, the adopted child or adopted grandchild, or the spouse or domestic partner of any child, adopted child, grandchild or adopted grandchild of such Major Investor, or to a trust or
trusts for the exclusive benefit of such Major Investor or those members of such Major Investor’s family specified in this Section 5.5(d)(i) or transfers of Equity Securities of the Company by a Major Investor by devise or descent;
provided, however, that, in all cases, the transferee or other recipient executes a counterpart copy of this Agreement and becomes bound thereby as was such Major Investor, (c) any bona fide gift effected for tax planning
purposes, provided, however, that the pledgee, transferee or donee or other recipient executes a counterpart copy of this Agreement and becomes bound thereby as was the Major Investor, or, (d) any bona fide pledge made pursuant to a bona
fide loan transaction that creates a mere security interest, if the pledgee executes a counterpart copy of this Agreement and becomes bound thereby as a Major Investor in the event that and to the extent that such pledgee ever acquires
ownership of such shares, provided, however, that in the event of any transfer made pursuant to one of the exemptions provided by the clauses above, (1) the Major Investor shall inform the other Major Investors of such pledge, transfer
or gift prior to effecting it and (2) the pledgee, transferee or donee shall enter into a written agreement to be bound by and comply with all provisions of this Agreement as if were an original “Major Investor” hereunder, including
without limitation Section 2. Except with respect to Equity Securities of the Company transferred under clause (a) above (which Equity Securities of the Company shall no longer be subject to the Co-Sale rights of the Major Investors), such
transferred Shares shall remain “Shares” hereunder (to the extent such Equity Securities were Shares), and such pledgee, transferee or donee shall be treated as the “Major Investor” for purposes of this Agreement. Notwithstanding
the foregoing, any Equity Securities of the Company transferred pursuant to clause (a) above shall remain subject to any right of first refusal in favor of the Company set forth in the Company’s Bylaws or in any stock purchase agreement.

 (ii) If a Major Investor plans to make any of the above excepted transfers, then, prior to transferring its Equity
Securities of the Company, such Major Investor shall deliver to the Company a written notice stating: (i) such Major Investor’s bona fide intention to make an excepted transfer such Equity Securities; (ii) the name, address and phone
number of each proposed transferee; (iii) the aggregate number of Equity Securities of the Company to be transferred to each proposed transferee; and (iv) the section in this agreement upon which such Major Investor is relying in making an
excepted transfer. 

  
 -23-

 Notwithstanding the foregoing, the provisions of Section 5 shall not apply to the sale
of any Shares to the public pursuant to a registration statement filed with, and declared effective by, the Securities and Exchange Commission under the Securities Act. 
 5.6 Termination and Waiver of Rights of Co-Sale. The Rights of Co-Sale established by this Section 5 shall not apply to, and shall terminate upon the earlier of (i) effective date of
the registration statement pertaining to the Company’s Initial Offering or (ii) a Change in Control (unless there has occurred a Liquidation Waiver). 
 SECTION 6. MISCELLANEOUS 
 6.1 Governing Law. This Agreement
shall be governed by and construed under the laws of the State of Delaware as applied to agreements among Delaware residents entered into and to be performed entirely within Delaware, without regard to principles of conflicts of laws. 

6.2 Survival. The covenants and agreements made herein shall survive any investigation made by any Holder and the closing
of the transactions contemplated hereby. All statements as to factual matters contained in any certificate or other instrument delivered by or on behalf of the Company pursuant hereto in connection with the transactions contemplated hereby shall be
deemed to be representations and warranties by the Company hereunder solely as of the date of such certificate or instrument. 

6.3 Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit
of, and be binding upon, the successors, assigns, heirs, executors, and administrators of the parties hereto and shall inure to the benefit of and be enforceable by each person who shall be a holder of Registrable Securities from time to time;
provided, however, that prior to the receipt by the Company of adequate written notice of the Transfer of any Registrable Securities specifying the full name and address of the Transferee, the Company may deem and treat the person listed as
the holder of such shares in its records as the absolute owner and holder of such shares for all purposes, including the payment of dividends or any redemption price. 
 6.4 Entire Agreement. This Agreement, the Exhibits and Schedules hereto, the Purchase Agreement and the other documents delivered pursuant thereto (the “Entire Agreement”)
constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and supersedes in its entirety the Prior Agreement, which shall have no further force and effect. No party shall be liable or bound to
any other in any manner by any representations, warranties, covenants and agreements except as specifically set forth in the Entire Agreement. 
 6.5 Severability. In the event one or more of the provisions of this Agreement should, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality, or unenforceability shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. 

  
 -24-

 6.6 Amendment and Waiver. 

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

(c) Notwithstanding the foregoing, the addition of additional Series C Warrant Holders as “Investors,” “Holders” and
parties hereto shall not constitute an amendment to this Agreement, provided that such Series C Warrant Holder has executed a counterpart signature page to this Agreement and agrees in writing to be bound by the terms and conditions of this
Agreement. 
 (d) For the purposes of determining the number of Holders or Investors entitled to vote or exercise any rights
hereunder, the Company shall be entitled to rely solely on the list of record holders of its stock as maintained by or on behalf of the Company. 
 (e) Notwithstanding the foregoing, any amendment, modification or termination of the rights of any Major Investor under this Agreement that would adversely affect its rights relative to or against other
Major Investors shall require the written consent of such adversely affected Major Investor(s). 
 6.7 Delays or
Omissions. It is agreed that no delay or omission to exercise any right, power, or remedy accruing to any party, upon any breach, default or noncompliance by another party under this Agreement shall impair any such right, power, or
remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of any similar breach, default or noncompliance thereafter occurring. It is further agreed that any waiver, permit,
consent, or approval of any kind or character on any party’s part of any breach, default or noncompliance under the Agreement or any waiver on such party’s part of any provisions or conditions of this Agreement must be in writing and shall
be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement, by law, or otherwise afforded to any party, shall be cumulative and not alternative. 

6.8 Notices. Unless otherwise provided, any notice required or permitted by this Agreement shall be in writing and shall be
deemed given upon receipt or, if earlier, (a) five (5) days after deposit with the U.S. Postal Service or other applicable postal service, if delivered by first class mail, postage prepaid; (b) upon delivery, if delivered by hand;
(c) one (1) business day after the business day of deposit with Federal Express or similar overnight courier, freight prepaid; or (d) one (1) business day after the business day of facsimile or electronic mail transmission (in
each case with confirmation of receipt); provided, that, if delivered by facsimile or e-mail, such transmission shall be followed with a copy by first class mail, postage prepaid, and shall be addressed to the party to be notified at
such party’s address as set forth on the signature page or Exhibit A hereto (as applicable) or as subsequently modified by written notice. 

  
 -25-

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

6.10 Additional Investors. 
 (a) Notwithstanding anything to the contrary contained herein, if the Company shall issue additional Series C Warrants pursuant to the 2005 Note and Warrant Purchase Agreement, any purchaser of such
Series C Warrants may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement and shall be deemed an “Investor” or “Holder” hereunder. 

(b) Notwithstanding anything to the contrary contained herein, if the Company shall issue Equity Securities in accordance with Section
4.6 (c), (f) or (g) of this Agreement, any purchaser of such Equity Securities may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement and shall be deemed an
“Investor” hereunder. 
 6.11 Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be an original, but all of which together shall constitute one instrument. 
 6.12 Waiver
of Notice and Right to Maintain Proportionate Ownership. In consideration of the benefits conferred upon the Company pursuant to the transactions contemplated by the 2005 Note and Warrant Purchase Agreement, each Prior Investor hereby
irrevocably waives its right to maintain proportionate ownership with respect to the sale by the Company of the promissory notes and Series C Warrants issued in connection with the 2005 Note and Warrant Purchase Agreement, as such right is set forth
in Section 4 of the Prior Agreement, together with any right to receive notice pursuant to such Section 4. 
 [THIS
SPACE INTENTIONALLY LEFT BLANK] 

  
 -26-

 IN WITNESS WHEREOF, the parties hereto have executed this AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date first above written. 
  

			
	COMPANY:
	
	QUALYS, INC.
		
	By:	 	 /s/ Eric Saltzman

	Name:	 	Eric Saltzman
	Title:	 	Chief Financial Officer

 [AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 

SIGNATURE PAGE] 

 IN WITNESS WHEREOF, the parties hereto have executed this AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date first above written. 
  

	
	 /s/ Mai Courtot

	Mai Courtot

 [AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 

SIGNATURE PAGE] 

 IN WITNESS WHEREOF, the parties hereto have executed this AMENDED AND RESTATED INVESTOR RIGHTS
AGREEMENT as of the date first above written. 
  

			
	Trident Capital Fund-V, L.P
	Trident Capital Fund-V Affiliates Fund, L.P.
	Trident Capital Fund-V Affiliates Fund (Q), L.P.
	Trident Capital Fund-V Principals Fund, L.P.
	Trident Capital Parallel Fund-V, C.V.
	
	Executed on behalf of the foregoing funds by the undersigned, as an authorized signatory of the respective general partner of each such fund:
	
	 /s/ Donald R. Dixon

	(signature)
	
	 Donald R. Dixon

	(print name)
	
	Trident Capital, Inc.
		
	By:	 	 /s/ Donald R. Dixon

	Title:	 	 Managing Director

 [AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 

SIGNATURE PAGE] 

 IN WITNESS WHEREOF, the parties hereto have executed this AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date first above written. 
  

			
	GRP II, L.P., a Delaware limited partnership
		
	By:	 	GRPVC, L.P., its General Partner
	By:	 	GRP Management Services Corp., a Delaware corporation, its General Partner
		
	By:	 	 /s/ Yves Sisteron

	Name:	 	Yves Sisteron
	Title:	 	President
	
	GRP II PARTNERS, L.P., a Delaware limited partnership
		
	By:	 	GRPVC, L.P., its General Partner
	By:	 	GRP Management Services Corp., a Delaware corporation, its General Partner
		
	By:	 	 /s/ Yves Sisteron

	Name:	 	Yves Sisteron
	Title:	 	President
	
	GRP II INVESTORS, L.P., a Delaware limited partnership
		
	By:	 	GRP Management Services Corp., a Delaware corporation, its Attorney-in-Fact
		
	By:	 	 /s/ Yves Sisteron

	Name:	 	Yves Sisteron
	Title:	 	President
	Address:	 	GRP Partners
		 	2121 Avenue of the Stars, Suite 1630
		 	Los Angeles, CA 90067

 [AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 

SIGNATURE PAGE] 

 IN WITNESS WHEREOF, the parties hereto have executed this AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date first above written. 
  

	
	 /s/ Philippe F. Courtot

	Philippe F. Courtot

 [AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 

SIGNATURE PAGE] 

 IN WITNESS WHEREOF, the parties hereto have executed this AMENDED AND RESTATED
INVESTOR RIGHTS AGREEMENT as of the date first above written. 
  

			
	Philippe Langlois
		
	By:	 	 /s/ Philippe Courtot

	Name:	 	Philippe Courtot
	Title:	 	Authorized Proxy

 [AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 

SIGNATURE PAGE] 

 EXHIBIT A 
 LIST OF INVESTORS, FOUNDERS AND SERIES C WARRANT HOLDERS 
 LIST OF SERIES
A INVESTORS 
  

					
	 Investor
	  	Number of Series A Shares	 
	 ABS Investors, L.L.C.

225 Franklin Street, 25th Floor
 Boston, MA 02110
 Attn: Bruns Grayson
	  	 	244,186	  
		
	 ABS Ventures, II, L.L.C.

225 Franklin Street, 25th Floor
 Boston, MA 02110
 Attn: Bruns Grayson
	  	 	3,466,139	  
		
	 ABS Ventures, II, L.L.C.

225 Franklin Street, 25th Floor
 Boston, MA 02110
 Attn: Bruns Grayson
	  	 	4,572,457	  
		
	 Philippe F. Courtot

757 Tennyson Avenue

Palo Alto, CA 94303
	  	 	15,799,560	  
		
	 First TZMM Investment Partnership

c/o Tomlinson Zisko LLP

200 Page Mill Road

Palo Alto, CA 94306

Attn: Timothy Tomlinson
	  	 	82,827	  
		
	 GC&H Investments

One Maritime Plaza

20th Floor San Francisco, CA 94111
	  	 	629,490	  
		
	 Umang Gupta

523 Harvard Road
 San Mateo, CA 94402
	  	 	165,657	  

					
	 Investor
	  	Number of Series A Shares	 
	 Philippe Langlois

c/o Qualys, Inc.
 1326 Chesapeake Terrace
 Sunnyvale, CA
94089
	  	 	202,928	  
		
	 Gilles Samoun

1806 Van Buren
 Mountain View, CA 94040
	  	 	211,210	  
		
	 Arnold Schaeffer

2929 1st Avenue
 Apt 1302
 Seattle, WA 98121
	  	 	165,657	  
		
	 Trident Capital Parallel Fund-V C.V.

505 Hamilton Avenue, Suite 200

Palo Alto, CA 94301

Attn: Donald Dixon
	  	 	1,023,269	  
		
	 Trident Capital Fund-V Principals Fund, L.P.

505 Hamilton Avenue, Suite 200

Palo Alto, CA 94301

Attn: Donalgd Dixon
	  	 	326,245	  
		
	 Trident Capital Fund-V Affiliates Fund, L.P.

505 Hamilton Avenue, Suite 200

Palo Alto, CA 94301

Attn: Donald Dixon
	  	 	78,281	  
		
	 Trident Capital Fund-V Affiliate Fund (Q), L.P.

505 Hamilton Avenue, Suite 200

Palo Alto, CA 94301

Attn: Donald Dixon
	  	 	74,698	  
		
	 Trident Capital Fund-V, L.P.

505 Hamilton Avenue, Suite 200

Palo Alto, CA 94301

Attn: Donald Dixon
	  	 	13,468,786	  

					
	 Investor
	  	Number of Series A Shares	 
	 VeriSign, Inc.

1350 Charleston Road

Mountain View, CA 94043

Attn: Chris Babel
	  	 	2,515,973	  
		
	 Mercury Interactive Ventures, L.P.

1325 Borregas Avenue

Sunnyvale, CA 94089

Attn: Susan J. Skaer, Esq.
	  	 	4,969,669	  
		
	 Banque Bruxelles Lambert (Suisse)
	  	 	82,828	  
		
	 TOTAL:
	  	 	48,079,860	  

 LIST OF SHARES OF COMMON STOCK HELD BY FOUNDER 

 

					
	 Founder
	  	Number of Shares of Common Stock	 
	 Philippe Courtot
	  	 	10,187,830	  
		
	 TOTAL:
	  	 	10,187,830	  

 LIST OF SERIES B INVESTORS 

 

					
	 INVESTOR
	  	NUMBER OF SERIES B SHARES	 
	 ABS Ventures, VI, L.L.C.

        225 Franklin Street, 25th Floor

        Boston, MA 02110
         Attn: Bruns Grayson
	  	 	2,492,308	  
		
	 Philippe F. Courtot

        757 Tennyson Avenue
         Palo Alto, CA 94304
	  	 	45,694,437	  
		
	 GRP II, L.P.

        2121 Avenue of the Stars
         Suite 1630

        Los Angeles, CA 90067
         Attn: Yves Sisteron
	  	 	13,692,308	  
		
	 GRP II Partners, L.P.

        2121 Avenue of the Stars
         Suite 1630

        Los Angeles, CA 90067
         Attn: Yves Sisteron
	  	 	461,538	  
		
	 GRP II Investors, L.P.

        2121 Avenue of the Stars
         Suite 1630

        Los Angeles, CA 90067
         Attn: Yves Sisteron
	  	 	1,230,769	  
		
	 Trident Capital Fund V, L.P.

        505 Hamilton Avenue, Suite 200
         Palo Alto, CA 94301

        Attn: Donald Dixon
	  	 	37,438,454	  
		
	 Trident Capital Fund-V Affiliates Fund, L.P.
         505 Hamilton Avenue, Suite 200

        Palo Alto, CA 94301
         Attn: Donald Dixon
	  	 	217,592	  

					
	 INVESTOR
	  	NUMBER OF SERIES B SHARES	 
	 Trident Capital Fund-V Affiliates Fund (Q), LP.
         505 Hamilton Avenue, Suite 200

        Palo Alto, CA 94301
         Attn: Donald Dixon
	  	 	207,636	  
		
	 Trident Capital Fund-V Principals Fund, L.P.
         505 Hamilton Avenue, Suite 200

        Palo Alto, CA 94301
         Attn: Donald Dixon
	  	 	1,083,607	  
		
	 Trident Capital Parallel Fund-V, C.V.
         505 Hamilton Avenue, Suite 200

        Palo Alto, CA 94301
         Attn: Donald Dixon
	  	 	2,844,326	  
		
	 Trident Capital, Inc.

        505 Hamilton Avenue, Suite 200
         Palo Alto, CA 94301

        Attn: Donald Dixon
	  	 	101,796	  
		
	 WS Investments, LLC (2003A)

        650 Page Mill Road
         Palo Alto, CA 94304
	  	 	76,923	  
		
	 WS Investments, LLC (2003D)

        650 Page Mill Road
         Palo Alto, CA 94304
	  	 	57,693	  
		
	 ING Bank (Suisse) SA
 30, av.
De Frontenex
 Case postale 6405
 CH
– 1211 Geneve 6
 Switzerland

Attn: Stefano Aita
	  	 	24,150	  
		
	 Jin Byun
 111 Chestnut,
#613
 San Francisco, CA 94111
	  	 	79,180	  
		
	 Mai Courtot
 47 Quai des Grands
Augustins
 75006 Paris (France)
	  	 	335,806	  
		
	 Anne Dautun
 c/o
Luckysurf.com
 395 Oyster Point Boulevard, #110
 South San Francisco, CA 94080
	  	 	945,453	  

					
	 INVESTOR
	  	NUMBER OF SERIES B SHARES	 
	Nadia Deeba	  	 	203,511	  
		
	Gerhard Eschelbeck	  	 	107,755	  
		
	 First TZMM Investment Partnership
 c/o Tomlinson Zisko LLP
 200 Page Mill Road
 Palo Alto, CA 94306
 Attn: Timothy Tomlinson
	  	 	123,077	  
		
	The Franchise Association	  	 	101,755	  
		
	GC&H Investments	  	 	297,941	  
		
	GC&H Investments, LLC	  	 	315,868	  
		
	Ghattas Khoury	  	 	121,185	  
		
	Samar Jabbour Khoury	  	 	121,185	  
		
	Timothy J. Moore	  	 	117,978	  
		
	Christina Morgan	  	 	160,761	  
		
	 Saltzman Revocable Trust
 1251
Valparaiso Ave.
 Menlo Park, CA 94025
	  	 	393,259	  
		
	 Eric Todd Saltzman
 Charles
Schwab & Co, Inc.
 Custodian, IRA Rollover
	  	 	106,500	  
		
	Jeffrey D. and Vivian E. Saper Trust	  	 	73,736	  
		
	 Howard Schmidt
 26638 SE
146th St.

Issaquah, WA 98027
	  	 	90,384	  
		
	 Sharam I. And Fariba J. Sasson, Trustees of the
 Sasson Family Trust U/D/T dated December 29,
 1994

3049 Oakraider Drive
 Alamo, CA
94507
	  	 	395,900	  

					
	 INVESTOR
	  	NUMBER OF SERIES B SHARES	 
	 Arnold Schaeffer
 2929 1st
Avenue
 Apt 1302
 Seattle, WA
98121
	  	 	133,750	  
		
	Vincent Tobkin	  	 	202,043	  
		
	WS Investment Company, LLC	  	 	196,629	  
		  	  
	  
	 
		
	TOTAL:	  	 	110,314,114	  
		  	  
	  
	 

 LIST OF SERIES C INVESTORS 

 

					
	 INVESTOR
	  	NUMBER OF SERIES C SHARES	 
	 GRP II, L.P.
	  	 	8,644,225	  
		
	 GRP II Partners, L.P.
	  	 	291,378	  
		
	 GRP II Investors, L.P.
	  	 	777,009	  
		
	 Trident Capital Fund-V, L.P.
	  	 	2,383,812	  
		
	 Trident Capital Fund-V Affiliates Fund, L.P.
	  	 	13,855	  
		
	 Trident Capital Fund-V Affiliates Fund (Q), L.P.
	  	 	13,221	  
		
	 Trident Capital Fund-V Principals Fund, L.P.
	  	 	68,996	  
		
	 Trident Capital Parallel Fund-V. C.V.
	  	 	181,106	  
		
	 Philippe Courtot
	  	 	4,656,732	  
		
	 ING Bank (Suisse) S.A.
	  	 	266,099	  
		
		  			
		
		  			
		
		  			
		
		  			
		
		  			
		
		  			
		
		  			
		  	  
	  
	 
		
	 Total:
	  	 	17,296,433	  
		  	  
	  
	 

 LIST OF SERIES C WARRANT HOLDERS 

 

					
	 WARRANT HOLDER
	  	NUMBER OF SERIES C SHARES	 
	 Trident Capital Entities
	  	 	—  	  
		
	 Main Courtot
	  	 	—2000 Equity Incentive Plan

 Exhibit 10.1 
 QUALYS, INC. 
 2000 EQUITY INCENTIVE
PLAN, AS AMENDED 
 Adopted February 9, 2000 

Amended to Extend Term: January 29, 2010 
 Termination Date: January 28, 2020 
  

	1.	PURPOSES. 

 (a) Eligible Stock Award Recipients. The persons eligible to receive Stock Awards are the Employees, Directors and Consultants of the Company and its Affiliates. 

(b) Available Stock Awards. The purpose of the Plan is to provide a means by which eligible recipients of Stock Awards may be
given an opportunity to benefit from increases in value of the Common Stock through the granting of the following Stock Awards: (i) Incentive Stock Options, (ii) Nonstatutory Stock Options, (iii) stock bonuses and (iv) rights to
acquire restricted stock. 
 (c) General Purpose. The Company, by means of the Plan, seeks to retain the services of the
group of persons eligible to receive Stock Awards, to secure and retain the services of new members of this group and to provide incentives for such persons to exert maximum efforts for the success of the Company and its Affiliates. 

 

	2.	DEFINITIONS. 

 (a) “Affiliate” means any parent corporation or subsidiary corporation of the Company, whether now or hereafter existing, as those terms are defined in Sections 424(e) and
(f), respectively, of the Code. 
 (b) “Board” means the Board of Directors of the Company.

 (c) “Code” means the Internal Revenue Code of 1986, as amended. 

(d) “Committee” means a committee of one or more members of the Board appointed by the Board in accordance
with subsection 3(c). 
 (e) “Common Stock” means the common stock of the Company. 

(f) “Company” means Qualys, Inc., a Delaware corporation. 

(g) “Consultant” means any person, including an advisor, (i) engaged by the Company or an Affiliate
to render consulting or advisory services and who is compensated for such services or (ii) who is a member of the Board of Directors of an Affiliate. However, the term “Consultant” shall not include either Directors who are not compensated
by the Company for their services as Directors or Directors who are merely paid a director’s fee by the Company for their services as Directors. 

 (h) “Continuous Service” means that the Participant’s
service with the Company or an Affiliate, whether as an Employee, Director or Consultant, is not interrupted or terminated. The Participant’s Continuous Service shall not be deemed to have terminated merely because of a change in the capacity
in which the Participant renders service to the Company or an Affiliate as an Employee, Consultant or Director or a change in the entity for which the Participant renders such service, provided that there is no interruption or termination of the
Participant’s Continuous Service. For example, a change in status from an Employee of the Company to a Consultant of an Affiliate or a Director will not constitute an interruption of Continuous Service. The Board or the chief executive officer
of the Company, in that party’s sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that party, including sick leave, military leave or any other personal
leave. 
 (i) “Covered Employee” means the principal executive officer and the three
(3) other highest compensated officers of the Company (other than the principal financial officer) for whom total compensation is required to be reported to stockholders under the Exchange Act, as determined for purposes of Section 162(m)
of the Code, or such other interpretation given to such definition for purposes of Section 162(m) of the Code, as may be amended from time to time. 
 (j) “Director” means a member of the Board of Directors of the Company. 
 (k) “Disability” means (i) before the Listing Date, the inability of a person, in the opinion of a qualified physician acceptable to the Company, to perform the major
duties of that person’s position with the Company or an Affiliate of the Company because of the sickness or injury of the person and (ii) after the Listing Date, the permanent and total disability of a person within the meaning of
Section 22(e)(3) of the Code. 
 (l) “Employee” means any person employed by the Company or
an Affiliate. Mere service as a Director or payment of a director’s fee by the Company or an Affiliate shall not be sufficient to constitute “employment” by the Company or an Affiliate. 

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

(n) “Exchange Program” means a program under which (i) outstanding Stock Awards are surrendered or
cancelled in exchange for Stock Awards of the same type (which may have higher or lower exercise prices and different terms), awards of a different type, and/or cash, (ii) Participants would have the opportunity to transfer any outstanding
Stock Awards to a financial institution or other person or entity selected by the Board, and/or (iii) the exercise price of an outstanding Stock Award is reduced or increased. The Board will determine the terms and conditions of any Exchange
Program in its sole discretion. 
 (o) “Fair Market Value” means, as of any date, the value of
the Common Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or traded
on the Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market of The Nasdaq Stock Market, the Fair Market Value of a share of Common Stock shall be the closing sales

  
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price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or market (or the exchange or market with the greatest volume of trading in the Common Stock) on
the last market trading day prior to the day of determination, as reported in The Wall Street Journal or such other source as the Board deems reliable. 
 (ii) In the absence of such markets for the Common Stock, the Fair Market Value shall be determined in good faith by the Board. 

(iii) Prior to the Listing Date, the value of the Common Stock shall be determined in a manner consistent with
Section 260.140.50 of Title 10 of the California Code of Regulations. 
 (p) “Incentive Stock
Option” means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 

(q) “Listing Date” means the first date upon which any security of the Company is listed (or approved for
listing) upon notice of issuance on any securities exchange or designated (or approved for designation) upon notice of issuance as a national market security on an interdealer quotation system if such securities exchange or interdealer quotation
system has been certified in accordance with the provisions of Section 25100(o) of the California Corporate Securities Law of 1968. 
 (r) “Non-Employee Director” means a Director who either (i) is not a current Employee or Officer of the Company or its parent or a subsidiary, does not receive
compensation (directly or indirectly) from the Company or its parent or a subsidiary for services rendered as a consultant or in any capacity other than as a Director (except for an amount as to which disclosure would not be required under
Item 404(a) of Regulation S-K promulgated pursuant to the Securities Act (“Regulation S-K”)), does not possess an interest in any other transaction as to which disclosure would be required under Item 404(a) of Regulation S-K and
is not engaged in a business relationship as to which disclosure would be required under Item 404(b) of Regulation S-K; or (ii) is otherwise considered a “non-employee director” for purposes of Rule 16b-3. 

(s) “Nonstatutory Stock Option” means an Option not intended to qualify as an Incentive Stock Option.

 (t) “Officer” means (i) before the Listing Date, any person designated by the Company as
an officer and (ii) on and after the Listing Date, a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 

(u) “Option” means an Incentive Stock Option or a Nonstatutory Stock Option granted pursuant to the Plan.

 (v) “Option Agreement” means a written agreement between the Company and an Optionholder
evidencing the terms and conditions of an individual Option grant. Each Option Agreement shall be subject to the terms and conditions of the Plan. 

  
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 (w) “Optionholder” means a person to whom an Option is
granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Option. 
 (x)
“Outside Director” means a Director who either (i) is not a current employee of the Company or an “affiliated corporation” (within the meaning of Treasury Regulations promulgated under Section 162(m)
of the Code), is not a former employee of the Company or an “affiliated corporation” receiving compensation for prior services (other than benefits under a tax qualified pension plan), was not an officer of the Company or an
“affiliated corporation” at any time and is not currently receiving direct or indirect remuneration from the Company or an “affiliated corporation” for services in any capacity other than as a Director or (ii) is otherwise
considered an “outside director” for purposes of Section 162(m) of the Code. 
 (y)
“Participant” means a person to whom a Stock Award is awarded pursuant to the Plan or, if applicable, such other person who holds an outstanding Stock Award. 

(z) “Plan” means this Qualys, Inc. 2000 Equity Incentive Plan. 

(aa) “Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as
in effect from time to time. 
 (bb) “Securities Act” means the Securities Act of 1933, as
amended. 
 (cc) “Stock Award” means any right granted under the Plan, including an Option, a
stock bonus and a right to acquire restricted Stock. 
 (dd) “Stock Award Agreement” means a
written agreement between the Company and a holder of a Stock Award evidencing the terms and conditions of an individual Stock Award grant. Each Stock Award Agreement shall be subject to the terms and conditions of the Plan. 

(ee) “Ten Percent Stockholder” means a person who owns (or is deemed to own pursuant to
Section 424(d) of the Code) stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of any of its Affiliates. 

 

	3.	ADMINISTRATION. 

 (a) Administration by Board. The Board shall administer the Plan unless and until the Board delegates administration to a Committee, as provided in subsection 3(c). Any interpretation of the Plan
by the Board and any decision by the Board under the Plan shall be final and binding on all persons. 
 (b) Powers of
Board. The Board shall have the power, subject to, and within the limitations of, the express provisions of the Plan: 

(i) To determine from time to time which of the persons eligible under the Plan shall be granted Stock Awards; when and how each
Stock Award shall be granted; what type or combination of types of Stock Award shall be granted; the provisions of each Stock Award granted (which need not be identical), including the time or times when a person shall be permitted to receive Common
Stock pursuant to a Stock Award; and the number of shares of Common Stock with respect to which Stock Award shall be granted to each such person. 

  
 -4-

 (ii) To construe and interpret the Plan and Stock Awards granted under it, and to
establish, amend and revoke rules and regulations for its administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan or in any Stock Award Agreement, in a manner and to the extent it shall
deem necessary or expedient to make the Plan fully effective. 
 (iii) To amend the Plan or a Stock Award as provided in
Section 12. 
 (iv) To institute and determine the terms and conditions of an Exchange Program. 

(v) Generally, to exercise such powers and to perform such acts as the Board deems necessary or expedient to promote the best
interests of the Company which are not in conflict with the provisions of the Plan. 
 (c) Delegation to Committee.

 (i) General. The Board may delegate administration of the Plan to a Committee or Committees of one (1) or more
members of the Board, and the term “Committee” shall apply to any person or persons to whom such authority has been delegated. If administration is delegated to a Committee, the Committee shall have, in connect with the administration of
the Plan, the powers theretofore possessed by the Board, including the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board shall thereafter be to the
Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may abolish the Committee at any time and revest in the Board the
administration of the Plan. 
 (ii) Committee Composition when Common Stock is Publicly Traded. At such time as the
Common Stock is publicly traded, in the discretion of the Board, a Committee may consist solely of two or more Outside Directors, in accordance with Section 162(m) of the Code, and/or solely of two or more Non-Employee Directors, in accordance
with Rule 16b-3. Within the scope of such authority, the Board or the Committee may (1) delegate to a committee of one or more members of the Board who are not Outside Directors the authority to grant Stock Awards to eligible persons who are
either (a) not then Covered Employees and are not expected to be Covered Employees at the time of recognition of income resulting from such Stock Award or (b) not persons with respect to whom the Company wishes to comply with
Section 162(m) of the Code and/or) (2) delegate to a committee of one or more members of the Board who are not Non-Employee Directors the authority to grant Stock Awards to eligible persons who are not then subject to Section 16 of
the Exchange Act. 
  

	4.	SHARES SUBJECT TO THE PLAN. 

(a) Share Reserve. Subject to the provisions of Section 11 relating to adjustments upon changes in Common Stock, the Common
Stock that may be issued pursuant to Stock Awards shall not exceed in the aggregate one hundred ten million eight hundred seventy-eight thousand five hundred sixty-six (110,878,566) shares of Common Stock. 

  
 -5-

 (b) Reversion of Shares to the Share Reserve. If any Stock Award shall for any reason
expire or otherwise terminate, in whole or in part, without having been exercised in full, or is surrendered pursuant to an Exchange Program, the shares of Common Stock not acquired under such Stock Award shall revert to and again become available
for issuance under the Plan. Notwithstanding the foregoing and, subject to adjustment as provided in Section 11, the maximum number of shares of Common Stock that may be issued upon the exercise of Incentive Stock Options will equal the
aggregate shares of Common Stock stated in Section 4(a), plus, to the extent allowable under Code Section 422 and the Treasury Regulations promulgated thereunder, any shares of Common Stock that become available for issuance under the Plan
pursuant to this Section 4(b). 
 (c) Source of Shares. The shares of Common Stock subject to the Plan may be
unissued shares or reacquired shares, bought on the market or otherwise. 
  

	5.	ELIGIBILITY. 

 (a) Eligibility for Specific Stock Awards. Incentive Stock Options may be granted only to Employees. Stock Awards other than Incentive Stock Options may be granted to Employees, Directors and
Consultants. 
 (b) Ten Percent Stockholders. A Ten Percent Stockholder shall not be granted an Incentive Stock Option
unless the exercise price of such Option is at least one hundred ten percent (110%) of the Fair Market Value of the Common Stock at the date of grant and the Option is not exercisable after the expiration of five (5) years from the date of
grant. 
 (c) Section 162(m) Limitation. Subject to the provisions of Section 11 relating to adjustments upon
changes in the shares of Common Stock, no Employee shall be eligible to be granted Options covering more than five hundred thousand (500,000) shares of Common Stock during any calendar year. This subsection 5(c) shall not apply prior to the
Listing Date and, following the Listing Date, this subsection 5(c) shall not apply until (i) the earliest of: (1) the first material modification of the Plan (including any increase in the number of shares of Common Stock reserved for
issuance under the Plan in accordance with Section 4); (2) the issuance of all of the shares of Common Stock reserved for issuance under the Plan; (3) the expiration of the Plan; or (4) the first meeting of stockholders at which
Directors are to be elected that occurs after the close of the third calendar year following the calendar year in which occurred the first registration of an equity security under Section 12 of the Exchange Act; or (ii) such other date
required by Section 162(m) of the Code and the rules and regulations promulgated thereunder. 
 (d) Consultants.

 (i) Prior to the Listing Date, a Consultant shall not be eligible for the grant of a Stock Award if, at the time of
grant, either the offer or the sale of the Company’s securities to such Consultant is not exempt under Rule 701 of the Securities Act (“Rule 701”) because of the nature of the services that the Consultant is providing to the Company,
or because the Consultant is not a 

  
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natural person, or as otherwise provided by Rule 701, unless the Company determines that such grant need not comply with the requirements of Rule 701 and will satisfy another exemption under the
Securities Act as well as comply with the securities laws of all other relevant jurisdictions. 
 (ii) From and after the
Listing Date, a Consultant shall not be eligible for the grant of a Stock Award if, at the time of grant, a Form S-8 Registration Statement under the Securities Act (“Form S-8”) is not available to register either the offer or the sale of
the Company’s securities to such Consultant because of the nature of the services that the Consultant is providing to the Company, or because the Consultant is not a natural person, or as otherwise provided by the rules governing the use of
Form S-8, unless, the Company determines both (i) that such grant (A) shall be registered in another manner under the Securities Act (e.g., on a Form S-3 Registration Statement) or (B) does not require registration under the
Securities Act in order to comply with the requirements of the Securities Act, if applicable, and (ii) that such grant complies with the securities laws of all other relevant jurisdictions. 

(iii) As of April 7, 1999 Rule 701 and Form S-8 generally are available to consultants and advisors only if (i) they are
natural persons; (ii) they provide bona fide services to the issuer, its parents, its majority-owned subsidiaries or majority-owned subsidiaries of the issuer’s parent; and (iii) the services are not in connection with the offer or
sale of securities in a capital- raising transaction, and do not directly or indirectly promote or maintain a market for the issuer’s securities. 
  

	6.	OPTION PROVISIONS. 

 Each Option shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. All Options shall be separately designated Incentive Stock Options or Nonstatutory Stock
Options at the time of grant, and, if certificates are issued, a separate certificate or certificates will be issued for shares of Common Stock purchased on exercise of each type of Option. The provisions of separate Options need not be identical,
but each Option shall include (through incorporation of provisions hereof by reference in the Option or otherwise) the substance of each of the following provisions: 
 (a) Term. Subject to the provisions of subsection 5(b) regarding Ten Percent Stockholders, no Option granted prior to the Listing Date shall be exercisable after the expiration of ten
(10) years from the date it was granted, and no Incentive Stock Option granted on or after the Listing Date shall be exercisable after the expiration of ten (10) years from the date it was granted. 

(b) Exercise Price of an Incentive Stock Option. Subject to the provisions of subsection 5(b) regarding Ten Percent Stockholders,
the exercise price of each Incentive Stock Option shall be not less than one hundred percent (100%) of the Fair Market Value of the Common Stock subject to the Option on the date the Option is granted. Notwithstanding the foregoing, an
Incentive Stock Option may be granted with an exercise price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of
Section 424(a) of the Code. 

  
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 (c) Exercise Price of a Nonstatutory Stock Option. The exercise price of each
Nonstatutory Stock Option shall be not less than one hundred percent (100%) of the Fair Market Value of the Common Stock subject to the option on the date the Option is granted. Notwithstanding the foregoing, a Nonstatutory Stock Option may be
granted with an exercise price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of Section 424(a) of the Code.

 (d) Consideration. The purchase price of Common Stock acquired pursuant to an Option shall be paid, to the extent
permitted by applicable statutes and regulations, either (i) in cash at the time the Option is exercised or (ii) at the discretion of the Board at the time of the grant of the Option (or subsequently in the case of a Nonstatutory Stock
Option) (1) by delivery to the Company of other Common Stock, (2) according to a deferred payment or other similar arrangement with the Optionholder or (3) in any other form of legal consideration that may be acceptable to the Board;
provided, however, that at any time that the Company is incorporated in Delaware, payment of the Common Stock’s “par value” as defined in the Delaware General Corporation Law, shall not be made by deferred payment. 

In the case of any deferred payment arrangement, interest shall be compounded at least annually and shall be charged at the minimum rate
of interest necessary to avoid the treatment as interest, under any applicable provisions of the Code, of any amounts other than amounts stated to be interest under the deferred payment arrangement. 

(e) Transferability of an Incentive Stock Option. An Incentive Stock Option shall not be transferable except by will or by the
laws of descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding the foregoing, the Optionholder may, by delivering written notice to the Company, in a form satisfactory to
the Company, designate a third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option. 
 (f) Transferability of a Nonstatutory Stock Option. A Nonstatutory Stock Option granted prior to the Listing Date shall not be transferable except by will or by the laws of descent and distribution
and, to the extent provided in the Option Agreement, to such further extent as permitted by Rule 701 of the Securities Act, and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. A Nonstatutory Stock Option
granted on or after the Listing Date shall be transferable to the extent provided in the Option Agreement. If the Nonstatutory Stock Option does not provide for transferability, then the Nonstatutory Stock Option shall not be transferable except by
will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding the foregoing, the Optionholder may, by delivering written notice to the Company, in a form
satisfactory to the Company, designate a third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option. 
 (g) Vesting Generally. The total number of shares of Common Stock subject to an Option may, but need not, vest and therefore become exercisable in periodic installments that may, but need not, be
equal. The Option may be subject to such other terms and conditions on the time or 

  
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times when it may be exercised (which may be based on performance or other criteria) as the Board may deem appropriate. The vesting provisions of individual Options may vary. The provisions of
this subsection 6(g) are subject to any Option provisions governing the minimum number of shares of Common Stock as to which an Option may be exercised. 
 (h) Termination of Continuous Service. In the event an Optionholder’s Continuous Service terminates (other than upon the Optionholder’s death or Disability), the Optionholder may exercise
his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination) but only within such period of time ending on the earlier of (i) the date three (3) months following the termination
of the Optionholder’s Continuous Service (or such longer or shorter period specified in the Option Agreement, which period shall not be less than thirty (30) days for Options granted prior to the Listing Date unless such termination is for
cause), or (ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified in the Option Agreement, the Option shall
terminate. 
 (i) Extension of Termination Date. An Optionholder’s Option Agreement may also provide that if the
exercise of the Option following the termination of the Optionholder’s Continuous Service (other than upon the Optionholder’s death or Disability) would be prohibited at any time solely because the issuance of shares of Common Stock would
violate the registration requirements under the Securities Act, then the Option shall terminate on the earlier of (i) the expiration of the term of the Option set firth in subsection 6(a) or (ii) the expiration of a period of three
(3) months after the termination of the Optionholder’s Continuous Service during which the exercise of the Option would not be in violation of such registration requirements. 

(j) Disability of Optionholder. In the event that an Optionholder’s Continuous Service terminates as a result of the
Optionholder’s Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination), but only within such period of time ending on the earlier of
(i) the date twelve (12) months following such termination (or such longer or shorter period specified in the Option Agreement, which period shall not be less than six (6) months for Options granted prior to the Listing Date) or
(ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified herein, the Option shall terminate. 

(k) Death of Optionholder. In the event (i) an Optionholder’s Continuous Service terminates as a result of the
Optionholder’s death or (ii) the Optionholder dies within the period (if any) specified in the Option Agreement after the termination of the Optionholder’s Continuous Service for a reason other than death, then the Option may be
exercised (to the extent the Optionholder was entitled to exercise such Option as of the date of death) by the Optionholder’s estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated
to exercise the option upon the Optionholder’s death pursuant to subsection 6(e) or 6(f), but only within the period ending on the earlier of (1) the date eighteen (18) months following the date of death (or such longer or shorter
period specified in the Option Agreement, which period shall not be less than six (6) months for Options granted prior to the Listing Date) or (2) the expiration of the term of such Option as set forth in the Option Agreement. If, after
death, the Option is not exercised within the time specified herein, the Option shall terminate. 

  
 -9-

 (l) Early Exercise. The Option may, but need not, include a provision whereby the
Optionholder may elect at any time before the Optionholder’s Continuous Service terminates to exercise the Option as to any part or all of the shares of Common Stock subject to the Option prior to the full vesting of the Option. Subject to the
“Repurchase Limitation” in subsection 10(h), any unvested shares of Common Stock so purchased may be subject to a repurchase option in favor of the Company or to any other restriction the Board determines to be appropriate. 

(m) Right of Repurchase. Subject to the “Repurchase Limitation” in subsection 10(h), the Option may, but need not,
include a provision whereby the Company may elect, prior to the Listing Date, to repurchase all or any part of the vested shares of Common Stock acquired by the Optionholder pursuant to the exercise of the Option. 

(n) Right of First Refusal. The Option may, but need not, include a provision whereby the Company may elect, prior to the Listing
Date, to exercise a right of first refusal following receipt of notice from the Optionholder of the intent to transfer all or any part of the shares of Common Stock received upon the exercise of the Option. Except as expressly provided in this
subsection 6(n), such right of first refusal shall otherwise comply with any applicable provisions of the Bylaws of the Company. 
  

	7.	PROVISIONS OF STOCK AWARDS OTHER THAN
OPTIONS. 

 (a) Stock Bonus Awards. Each stock bonus agreement
shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. The terms and conditions of stock bonus agreements may change from time to time, and the terms and conditions of separate stock bonus agreements
need not be identical, but each stock bonus agreement shall include (through incorporation of provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions: 

(i) Consideration. A stock bonus may be awarded in consideration for past services actually rendered to the Company or an
Affiliate for its benefit. 
 (ii) Vesting. Subject to the “Repurchase Limitation” in subsection 10(h), shares
of Common Stock awarded under the stock bonus agreement may, but need not, be subject to a share repurchase option in favor of the Company in accordance with a vesting schedule to be determined by the Board. 

(iii) Termination of Participant’s Continuous Service. Subject to the “Repurchase Limitation” in subsection 10(h),
in the event a Participant’s Continuous Service terminates, the Company may reacquire any or all of the shares of Common Stock held by the Participant which have not vested as of the date of termination under the terms of the stock bonus
agreement. 
 (iv) Transferability. For a stock bonus award made before the Listing Date, rights to acquire shares of
Common Stock under the stock bonus agreement shall not be transferable 

  
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except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Participant only by the Participant. For a stock bonus award made on or after the
Listing Date, rights to acquire shares of Common Stock under the stock bonus agreement shall be transferable by the Participant only upon such terms and conditions as are set forth in the stock bonus agreement, as the Board shall determine in its
discretion, so long as Common Stock awarded under the stock bonus agreement remains subject to the terms of the stock bonus agreement. 
 (b) Restricted Stock Awards. Each restricted stock purchase agreement shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. The terms and conditions
of the restricted stock purchase agreements may change from time to time, and the terms and conditions of separate restricted stock purchase agreements need not be identical, but each restricted stock purchase agreement shall include (through
incorporation of provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions. 
 (i) Purchase Price. The purchase price under each restricted stock purchase agreement shall be such amount as the Board shall determine and designate in such restricted stock purchase agreement.

 (ii) Consideration. The purchase price of Common Stock acquired pursuant to the restricted stock purchase agreement
shall be paid either: (i) in cash at the time of purchase; (ii) at the discretion of the Board, according to a deferred payment or other similar arrangement with the Participant; or (iii) in any other form of legal consideration that
may be acceptable to the Board in its discretion; provided, however, that at any time that the Company is incorporated in Delaware, then payment of the Common Stock’s “par value,” as defined in the Delaware General Corporation Law,
shall not be made by deferred payment. 
 (iii) Vesting. Subject to the “Repurchase Limitation” in subsection
10(h), shares of Common Stock acquired under the restricted stuck purchase agreement may, but need not, be subject to a share repurchase option in favor of the Company in accordance with a vesting schedule to be determined by the Board. 

(iv) Termination of Participant’s Continuous Service. Subject to the “Repurchase Limitation” in subsection 10(h),
in the event a Participant’s Continuous Service terminates, the Company may repurchase or otherwise reacquire any or all or the shares of Common Stock held by the Participant which have not vested as of the date of termination under the terms
of the restricted stock purchase agreement. 
 (v) Transferability. For a restricted stock award made before the Listing
Date, rights to acquire shares of Common Stock under the restricted stock purchase agreement shall not be transferable except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Participant only by
the Participant. For a restricted stock award made on or after the Listing Date, rights to acquire shares of Common Stock under the restricted stock purchase agreement shall be transferable by the Participant only upon such terms and conditions as
are set forth in the restricted stock purchase agreement, as the Board shall determine in its discretion, so long as Common Stock awarded under the restricted stock purchase agreement remains subject to the terms of the restricted stock purchase
agreement. 

  
 -11-

	8.	COVENANTS OF THE COMPANY. 

(a) Availability of Shares. During the terms of the Stock Awards, the Company shall keep available at all times the number of
shares of Common Stock required to satisfy such Stock Awards. 
 (b) Securities Law Compliance. The Company shall seek to
obtain from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to grant Stock Awards and to issue and sell shares of Common Stock upon exercise of the Stock Awards; provided, however, that this
undertaking shall not require the Company to register under the Securities Act the Plan, any Stock Award or any Common Stock issued or issuable pursuant to any such Stock Award. If, after reasonable efforts, the Company is unable to obtain from any
such regulatory commission or agency the authority which counsel for the Company deems necessary for the lawful issuance and sale of Common Stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell Common
Stock upon exercise of such Stock Awards unless and until such authority is obtained. 
  

	9.	USE OF PROCEEDS FROM STOCK. 

Proceeds from the sale of Common Stock pursuant to Stock Awards shall constitute general funds of the Company. 

 

	10.	MISCELLANEOUS. 

 (a) Acceleration of Exercisability and Vesting. The Board stall have the power to accelerate the time at which a Stock Award may first be exercised or the time during which a Stock Award or any
part thereof will vest in accordance with the Plan, notwithstanding the provisions in the Stock Award stating the time at which it may first be exercised or the time during which it will vest. 

(b) Stockholder Rights. No Participant shall be deemed to be the holder of, or to have any of the rights of a holder with respect
to, any shares of Common Stock subject to such Stock Award unless and until such Participant has satisfied all requirements for exercise of the Stock Award pursuant to its terms. 

(c) No Employment or other Service Rights. Nothing in the Plan or any instrument executed or Stock Award granted pursuant thereto
shall confer upon any Participant any right continue to serve the Company or an Affiliate in the capacity in effect at the time the Stock Award was granted or shall affect the right of the Company or an Affiliate to terminate (i) the employment
of an Employee with or without notice and with or without cause, (ii) the service of a Consultant pursuant to the terms of such Consultant’s agreement with the Company or an Affiliate or (iii) the service of a Director pursuant to the
Bylaws of the Company or an Affiliate, and any applicable provisions of the corporate law of the state in which the Company or the Affiliate is incorporated, as the case maybe. 

(d) Incentive Stock Option $100,000 Limitation. To the extent that the aggregate Fair Market Value (determined at the time of
grant) of Common Stock with respect to which incentive 

  
 -12-

 
Stock Options are exercisable for the first time by any Optionholder during any calendar year (under all plans of the Company and its Affiliates) exceeds one hundred thousand dollars ($100,000),
the Options or portions thereof which exceed such limit (according to the order in which they were granted) shall be treated as Nonstatutory Stock Options. 
 (e) Investment Assurances. The Company may require a Participant, as a condition of exercising or acquiring Common Stock under any Stock Award, (i) to give written assurances satisfactory to
the Company as to the Participant’s knowledge and experience in financial and business matters and/or to employ a purchaser representative reasonably satisfactory to the Company who is knowledgeable and experienced in financial and business
matters and that he or she is capable of evaluating, alone or together with the purchaser representative, the merits and risks of exercising the Stock Award; and (ii) to give written assurances satisfactory to the Company stating that the
Participant is acquiring Common Stock subject to the Stock Award for the Participant’s own account and not with any present intention of selling or otherwise distributing the Common Stock. The foregoing requirements, and any assurances given
pursuant to such requirements, shall be inoperative if (iii) the issuance of the shares of Common Stock upon the exercise or acquisition of Common Stock under the Stock Award has been registered under a then currently effective registration
statement under the Securities Act or (iv) as to any particular requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances under the then applicable securities laws. The Company
may, upon advice of counsel to the Company, place legends on stock certificates issued under the Plan as such counsel deems necessary or appropriate in order to comply with applicable securities laws, including, but not limited to, legends
restricting the transfer of the Common Stock. 
 (f) Withholding Obligations. To the extent provided by the terms of a
Stock Award Agreement, the Participant may satisfy any federal, state or local tax withholding obligation relating to the exercise or acquisition of Common Stock under a Stock Award by any of the following means (in addition to the Company’s
right to withhold from any compensation paid to the Participant by the Company) or by a combination of such means: (i) tendering a cash payment; (ii) authorizing the Company to withhold shares of Common Stock from the shares of Common
Stock otherwise issuable to the Participant as a result of the exercise or acquisition of Common Stock under the Stock Award; or (iii) delivering to the Company owned and unencumbered shares of Common Stock. 

(g) Information Obligation. Prior to the Listing Date, to the extent required by Section 260.140.46 of Title 10 of the
California Code of Regulations, the Company shall deliver financial statements to Participants at least annually. This subsection 10(g) shall not apply to key Employees whose duties in connection with the Company assure them access to equivalent
information. 
 (h) Repurchase Limitation. The terms of any repurchase option shall be specified in the Stock Award and
may be either at Fair Market Value at the time of repurchase or at not less than the original purchase price. To the extent required by Section 260.140.41 and Section 260.140.42 of Title 10 of the California Code of Regulations at the time
a Stock Award is made, any repurchase option contained in a Stock Award granted prior to the Listing Date to a person who is not an Officer, Director or Consultant shall be upon the terms described below. 

  
 -13-

 (i) Fair Market Value. If tile repurchase option gives the Company the right to
repurchase the shares of Common Stock upon termination of employment at not less than the Fair Market Value of the shares of Common Stock to be purchased on the date of termination of Continuous Service, then (i) the right to repurchase shall
be exercised for cash or cancellation of purchase money indebtedness for the shares of Common Stock within ninety (90) days of termination of Continuous Service (or in the case of shares of Common Stock issued upon exercise of Stock Awards
after such date of termination, within ninety (90) days after the date of the exercise) or such longer period as may be agreed to by the Company and the Participant (for example, for purposes of satisfying the requirements of
Section 1202(c)(3) of the Code regarding “qualified small business stock”) and (ii) the right terminates when the shares of Common Stock become publicly traded. 

(ii) Original Purchase Price. If the repurchase option gives the Company the right to repurchase the shares of Common Stock upon
termination of Continuous Service at the original purchase price, then (i) the right to repurchase at the original purchase price shall lapse at a rate determined by the Board from the date the Stock Award is granted (without respect to the
date the Stock Award was exercised or became exercisable) and (ii) the right to repurchase shall be exercised for cash or cancellation of purchase money indebtedness for the shares of Common Stock within ninety (90) days of termination of
Continuous Service (or in the case of shares of Common Stock issued upon exercise of Options after such date of termination, within ninety (90) days after the date of the exercise) or such longer period as may be agreed to by the Company and
the Participant (for example, for purposes of satisfying the requirements of Section 1202(c)(3) of the Code regarding “qualified small business stock”). 
  

	11.	ADJUSTMENTS UPON CHANGES IN STOCK. 

(a) Capitalization Adjustments. If any change is made in the Common Stock subject to the Plan, or subject to any Stock Award,
without the receipt of consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, stock split, liquidating dividend, combination of shares,
exchange of shares, change in corporate structure or other transaction not involving the receipt of consideration by the Company), the Plan will be appropriately adjusted in the class(es) and maximum number of securities subject to the Plan pursuant
to subsection 4(a) and the maximum number of securities subject to award to any person pursuant to Subsection 5(c), and the outstanding Stock Awards will be appropriately adjusted in the class(es) and number of securities and price per share of
Common Stock subject to such outstanding Stock Awards. The Board shall make such adjustments, and its determination shall be final, binding and conclusive. (The conversion of any convertible securities of the Company shall not be treated as a
transaction “without receipt of consideration” by the Company.) 
 (b) Change in Control—Dissolution or
Liquidation. In the event of a dissolution or liquidation of the Company, then all outstanding Stock Awards shall terminate immediately prior to such event. 
 (c) Change in Control—Asset Sale, Merger, Consolidation or Reverse Merger. In the event of (i) a sale, lease or other disposition of all or substantially all of the assets of the

  
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Company, (ii) a consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, in which the shareholders of the
Company immediately prior to such consolidation, merger or reorganization, own less than 50% of the Company’s outstanding voting power of the surviving entity (or its parent) following the consolidation, merger or reorganization or
(iii) any transaction (or series of related transactions involving a person or entity, or a group of affiliated persons or entities) in which in excess of fifty percent (50%) of the Company’s outstanding voting power is transferred,
then any surviving corporation or acquiring corporation shall assume or continue any Stock Awards notwithstanding under the Plan or shall substitute similar stock awards (including an award to acquire the same consideration paid to the shareholders
in the transaction described in this subsection 11(c)) for those outstanding under the plan. In the event any surviving corporation or acquiring corporation refuses to assume or continue such Stock Awards or to substitute similar stock awards for
those outstanding under the Plan, then with respect to Stock Awards held by Participants whose Continuous Service has not terminated, the vesting of such Stock Awards (and, if applicable, the time during which such Stock Awards may be exercised)
shall be accelerated in full, and the Stock Awards shall terminate if not exercised (if applicable) at or prior by a time established by the Board at or following the occurrence of such event. With respect to any other Stock Awards outstanding under
the Plan, such Stock Awards shall terminate if not exercised (if applicable) at or prior to such event. 
 (d) Change in
Control—Securities Acquisition. After the Listing Date, in the event of an acquisition by any person, entity or group within the meaning of Section 13(d) or 14(d) of the Exchange Act, or any comparable successor provisions (excluding
any employee benefit plan, or related trust, sponsored or maintained by the Company or an Affiliate) of the beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act, or comparable successor rule) of securities of the
Company representing at least fifty percent (50%) of the combined voting power entitled to vote in the election of Directors, then with respect to Stock Awards held by Participants whose Continuous Service has not terminated, the vesting of
such Stock Awards (and, if applicable, the time during which such Stock Awards may be exercised) shall be accelerated in full. 
  

	12.	AMENDMENT OF THE PLAN AND STOCK
AWARDS. 

 (a) Amendment of Plan. The Board at any time, and from
time to time, may amend the plan. However, except as provided in Section 11 relating to adjustments upon changes in Common Stock, no amendment shall be effective unless approved by the stockholders of the Company to the extent stockholder
approval is necessary to satisfy the requirements of Section 422 of the Code, Rule 16b-3 or any Nasdaq or securities exchange listing requirements. 
 (b) Stockholder Approval. The Board may, in its sole discretion, submit any other amendment to the Plan for stockholder approval, including, but not limited to, amendments to the Plan intended to
satisfy the requirements of Section 162(m) of the Code and the regulations thereunder regarding the exclusion of performance-based compensation from the limit on corporate deductibility of compensation paid to certain executive officers.

 (c) Contemplated Amendments. It is expressly contemplated that the Board may amend the Plan in any respect the Board
deems necessary or advisable to provide eligible Employees with the maximum benefits provided or to be provided under the provisions of the Code and the regulations promulgated thereunder relating to Incentive Stock Options and/or to bring the Plan
and/or Incentive Stock options granted under it into compliance therewith. 

  
 -15-

 (d) No Impairment of Rights. Rights under any Stock Award granted before amendment of
the Plan shall not be impaired by any amendment Of the Plan unless (i) the Company requests the consent of the Participant and (ii) the Participant consents in writing. 

(e) Amendment of Stock Awards. The Board at any time, and from time to time, may amend the terms of any one or more Stock Awards;
provided, however, that the rights, under any Stock Award shall not be impaired by any such amendment unless (i) the Company requests the consent of the Participant and (ii) the Participant consents in writing. 

 

	13.	TERMINATION OR SUSPENSION OF THE PLAN.

 (a) Plan Term. The Board may suspend or terminate the Plan at any time. The Plan became effective on
February 9, 2000, the date on which the Board first adopted the Plan. Unless sooner terminated, the Plan shall continue in effect until January 28, 2020. No Stock Awards may be granted under the Plan while the Plan is suspended or after it
is terminated. 
 (b) No Impairment of Rights. Suspension or termination of the Plan shall not impair rights and
obligations under any Stock Award granted while the Plan is in effect except with the written consent of the Participant. 
  

	14.	EFFECTIVE DATE OF PLAN. 

The Plan shall become effective as determined by the Board, but no Stock Award shall be exercised (or, in the case of a stock bonus, shall
be granted) unless and until the Plan has been approved by the stockholders of the Company, which approval shall be within twelve (12) months before or after the date the Plan is adopted by the Board. 

 

	15.	CHOICE OF LAW. 

The law of the State of California shall govern all questions concerning the construction, validity and interpretation of this Plan,
without regard to such state’s conflict of laws rules. 

  
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 QUALYS, INC. 
 2000 EQUITY INCENTIVE PLAN, AS AMENDED 
 STOCK OPTION AGREEMENT 

(INCENTIVE AND NONSTATUTORY STOCK OPTIONS) 

Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Stock Option Agreement, QUALYS,
INC. (the “Company”) has granted you an option under its 2000 EQUITY INCENTIVE PLAN, AS AMENDED (the “Plan”) to
purchase the number of shares of the Company’s Common Stock indicated in your Grant Notice at the exercise price indicated in your Grant Notice. Defined terms not explicitly defined in this Stock Option Agreement but defined in the Plan shall
have the same definitions as in the Plan. 
 The details of your option are as follows: 

1.    VESTING. Subject to the limitations contained herein, your option
will vest as provided in your Grant Notice, provided that vesting will cease upon the termination of your Continuous Service. 

2.    NUMBER OF SHARES AND
EXERCISE PRICE. The number of shares of Common Stock subject to your option and your exercise price per share referenced in your Grant Notice may be adjusted from time to time for Capitalization
Adjustments, as provided in the Plan. 
 3.    EXERCISE PRIOR
TO VESTING (“EARLY EXERCISE”). If permitted in your Grant Notice (i.e., the “Exercise Schedule” indicates that “Early Exercise” of your option is
permitted) and subject to the provisions of your option, you may elect at any time that is both (i) during the period of your Continuous Service and (ii) during the term of your option, to exercise all or part of your option, including the
nonvested portion of your option; provided, however, that: 
 (a)    a partial exercise of your option
shall be deemed to cover first vested shares of Common Stock and then the earliest vesting installment of unvested shares of Common Stock; 
 (b)    any shares of Common Stock so purchased from installments that have not vested as of the date of exercise shall be subject to the purchase option in favor of the Company
as described in the Company’s form of Early Exercise Stock Purchase Agreement to be provided; 

(c)    you shall enter into the Company’s form of Early Exercise Stock Purchase Agreement with a vesting
schedule that will result in the same vesting as if no early exercise had occurred; and 
 (d)    if
your option is an incentive stock option, then, as provided in the Plan, to the extent that the aggregate Fair Market Value (determined at the time of grant) of the shares of Common Stock with respect to which your option plus all other incentive
stock options you hold are exercisable for the first time by you during any calendar year (under all plans of the Company and its Affiliates) exceeds one hundred thousand dollars ($100,000), your option(s) or portions thereof that exceed such limit
(according to the order in which they were granted) shall be treated as nonstatutory stock options. 

 4.    METHOD OF
PAYMENT. Payment of the exercise price is due in full upon exercise of all or any part of your option. You may elect to make payment of the exercise price in cash or by check or in any other manner permitted
by your Grant Notice, which may include one or more of the following: 
 (a)    In the
Company’s sole discretion at the time your option is exercised and provided that at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, pursuant to a program developed under
Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price
to the Company from the sales proceeds. 
 (b)    Provided that at the time of exercise the Common
Stock is publicly traded and quoted regularly in The Wall Street Journal, by delivery of already-owned shares of Common Stock either that you have held for the period required to avoid a charge to the Company’s reported earnings or that
you did not acquire, directly or indirectly from the Company, that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. “Delivery” for these
purposes, in the sole discretion of the Company at the time you exercise your option, shall include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. Notwithstanding the
foregoing, you may not exercise your option by tender to the Company of Common Stock to the extent such tender would violate the provisions of any law, regulation or agreement restricting the redemption of the Company’s stock. 

5.    WHOLE SHARES. You may exercise your option only for
whole shares of Common Stock. 
 6.    SECURITIES LAW
COMPLIANCE. Notwithstanding anything to the contrary contained herein, you may not exercise your option unless the shares of Common Stock issuable upon such exercise are then registered under the Securities Act or,
if such shares of Common Stock are not then so registered, the Company has determined that such exercise and issuance would be exempt from the registration requirements of the Securities Act. The exercise of your option must also comply with other
applicable laws and regulations governing your option, and you may not exercise your option if the Company determines that such exercise would not be in material compliance with such laws and regulations. 

7.    TERM. The term of your option commences on the Date of Grant and
expires upon the earliest of the following: 
 (a)    three (3) months after the
termination of your Continuous Service for any reason other than your Disability or death, provided that if during any part of such three- (3-) month period your option is not exercisable solely because of the condition set forth in the preceding
paragraph relating to “Securities Law Compliance,” your option shall not expire until the earlier of the Expiration Date or until it shall have been exercisable for an aggregate period of three (3) months after the termination of your
Continuous Service; 
 (b)    twelve (12) months after the termination of your Continuous Service
due to your Disability; 

  
 -2-

 (c)    eighteen (18) months after your death if you die
either during your Continuous Service or within three (3) months after your Continuous Service terminates; 

(d)    the Expiration Date indicated in your Grant Notice; or 

(e)    the tenth (10th) anniversary of the Date of Grant. 

If your option is an incentive stock option, note that, to obtain the federal income tax advantages associated with an “incentive
stock option,” the Code requires that at all times beginning on the date of grant of your option and ending on the day three (3) months before the date of your option’s exercise, you must be an employee of the Company or an Affiliate,
except in the event of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an “incentive
stock option” if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three (3) months after the date your
employment terminates. 
 8.    EXERCISE. 

(a)    You may exercise the vested portion of your option (and the unvested portion of your option if your
Grant Notice so permits) during its term by delivering a Notice of Exercise (in the form attached as Exhibit A) together with the exercise price to the Secretary of the Company, or to such other person as the Company may designate,
during regular business hours, together with such additional documents as the Company may then require. 

(b)    By exercising your option you agree that, as a condition to any exercise of your option, the Company may
require you to enter into an arrangement providing for the payment by you to the Company of any tax withholding obligation of the Company arising by reason of (1) the exercise of your option, (2) the lapse of any substantial risk of
forfeiture to which the shares of Common Stock are subject at the time of exercise, or (3) the disposition of shares of Common Stock acquired upon such exercise. 
 (c)    If your option is an incentive stock option, by exercising your option you agree that you will notify the Company in writing within fifteen (15) days after the date
of any disposition of any of the shares of the Common Stock issued upon exercise of your option that occurs within two (2) years after the date of your option grant or within one (1) year after such shares of Common Stock are transferred
upon exercise of your option. 
 (d)    By exercising your option you agree that the Company (or a
representative of the underwriter(s)) may, in connection with the first underwritten registration of the offering of any securities of the Company under the Securities Act, require that you not sell, dispose of, transfer, make any short sale of,
grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company held by you, for a period of time specified by the
underwriter(s) (not to exceed one hundred eighty (180) days) following the effective date of the registration statement of the Company filed under the Securities Act. You further agree to execute and deliver such other agreements as may be
reasonably requested by the Company and/or the underwriter(s) that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce 

  
 -3-

 
the foregoing covenant, the Company may impose stop-transfer instructions with respect to your shares of Common Stock until the end of such period. 

9.    TRANSFERABILITY. Your option is not transferable, except by will or
by the laws of descent and distribution, and is exercisable during your life only by you. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party who, in the
event of your death, shall thereafter be entitled to exercise your option. 

10.    RIGHT OF FIRST
REFUSAL. Shares of Common Stock that you acquire upon exercise of your option are subject to any right of first refusal that may be described in the Company’s bylaws in effect at such time the Company elects to
exercise its right. The Company’s right of first refusal shall expire on the Listing Date. 

11.    RIGHT OF REPURCHASE. To the extent
provided in the Company’s bylaws as amended from time to time, the Company shall have the right to repurchase all or any part of the shares of Common Stock you acquire pursuant to the exercise of your option. 

12.    OPTION NOT A SERVICE
CONTRACT. Your option is not an employment or service contract, and nothing in your option shall be deemed to create in any way whatsoever any obligation on your part to continue in the employ of the Company or an
Affiliate, or of the Company or an Affiliate to continue your employment. In addition, nothing in your option shall obligate the Company or an Affiliate, their respective shareholders, Boards of Directors, Officers or Employees to continue any
relationship that you might have as a Director or Consultant for the Company or an Affiliate. 

13.    WITHHOLDING OBLIGATIONS. 

(a)    At the time you exercise your option, in whole or in part, or at any time thereafter as requested by the
Company, you hereby authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by means of a “cashless exercise” pursuant to a program developed under Regulation T
as promulgated by the Federal Reserve Board to the extent permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company or an Affiliate, if any, which arise in connection
with your option. 
 (b)    Upon your request and subject to approval by the Company, in its sole
discretion, and compliance with any applicable conditions or restrictions of law, the Company may withhold from fully vested shares of Common Stock otherwise issuable to you upon the exercise of your option a number of whole shares of Common Stock
having a Fair Market Value, determined by the Company as of the date of exercise, not in excess of the minimum amount of tax required to be withheld by law. If the date of determination of any tax withholding obligation is deferred to a date later
than the date of exercise of your option, share withholding pursuant to the preceding sentence shall not be permitted unless you make a proper and timely election under Section 83(b) of the Code, covering the aggregate number of shares of
Common Stock acquired upon such exercise with respect to which such determination is otherwise deferred, to accelerate the determination of such tax withholding obligation to the date of exercise of your option. Notwithstanding the filing of such
election, shares of Common Stock shall be withheld solely from fully vested shares of 

  
 -4-

 
Common Stock determined as of the date of exercise of your option that are otherwise issuable to you upon such exercise. Any adverse consequences to you arising in connection with such share
withholding procedure shall be your sole responsibility. 
 (c)    You may not exercise your option
unless the tax withholding obligations of the Company and/or any Affiliate are satisfied. Accordingly, you may not be able to exercise your option when desired even though your option is vested, and the Company shall have no obligation to issue a
certificate for such shares of Common Stock or release such shares of Common Stock from any escrow provided for herein. 

14.    CODE SECTION 409A. Under Code Section 409A, an option
that vests after December 31, 2004 (or that vested on or prior to such date but which was materially modified after October 3, 2004) that was granted with a per share exercise price that is determined by the Internal Revenue Service (the
“IRS”) to be less than the Fair Market Value of a share of Common Stock on the date of grant (a “discount option”) may be considered “deferred compensation.” An option that is a “discount option” may result in
(i) income recognition by you prior to the exercise of the option, (ii) an additional twenty percent (20%) federal income tax, and (iii) potential penalty and interest charges. The “discount option” may also result in
additional state income, penalty and interest tax to you. You acknowledge that the Company cannot and has not guaranteed that the IRS will agree that the per share exercise price of this option equals or exceeds the Fair Market Value of a share of
Common Stock on the date of grant in a later examination. You agree that if the IRS determines that the option was granted with a per share exercise price that was less than the Fair Market Value of a share of Common Stock on the date of grant, you
shall be solely responsible for the costs related to such a determination. 

15.    NOTICES. Any notices provided for in your option or the Plan shall
be given in writing and shall be deemed effectively given upon receipt or, in the case of notices delivered by mail by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, addressed to you at the last
address you provided to the Company. 
 16.    GOVERNING PLAN
DOCUMENT. Your option is subject to all the provisions of the Plan, the provisions of which are hereby made a part of your option, and is further subject to all interpretations, amendments, rules and regulations
which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any conflict between the provisions of your option and those of the Plan, the provisions of the Plan shall control. 

17.    ENTIRE AGREEMENT; GOVERNING
LAW. The Plan and this Stock Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the
Company and you with respect to the subject matter hereof, and may not be modified adversely to your interest except by means of a writing signed by you and the Company. This Stock Option Agreement is governed by the internal substantive laws but
not the choice of law rules of California. 

  
 -5-

 EXHIBIT A 

NOTICE OF EXERCISE 
  

			
	Qualys, Inc.	 	
	1600 Bridge Parkway	 	
	Redwood Shores, CA 94065	 	Date:                     

 Ladies and Gentlemen: 
 This constitutes notice under my stock option that I elect to purchase the number of shares of Common Stock for the price set forth below. 

 

					
	Type of option:	  	Incentive(ISO)     ̈	  	Nonstatutory(NQ)     ̈
			
	Stock option dated:	  	  
	  	
			
	Number of shares of Common Stock as
to which option is
exercised:	  		  	
	  	  
	  	
			
	Certificates to be
issued in name of:	  	  
	  	
			
	Individual     ̈	  	Husband & Wife     ̈	  	
			
	Total exercise price:	  	$                    	  	
			
	Cash payment delivered
herewith:	  	$                    	  	

 I (the “Purchaser”) hereby make the following certifications and representations with respect
to the number of shares of Common Stock of the Company listed above (the “Shares”), which are being acquired by me for my own account upon exercise of the Option as set forth above: 

1.    Delivery of Payment; Representations of Optionholder. By this exercise, I agree (i) to provide such
additional documents as you may require pursuant to the terms of the 2000 Equity Incentive Plan, as amended, and (ii) to provide for the payment by me to you (in the manner designated by you) of your withholding obligation, if any, relating to
the exercise of this option. I acknowledge that I have received, read and understood the Plan and the Stock Option Agreement and agree to abide by and be bound by their terms and conditions. 

2.    Rights as Stockholder. Until the issuance of the shares of Common Stock (as evidenced by the appropriate
entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the Common Stock subject to my option, notwithstanding
the exercise of my Option. The shares of Common Stock shall be issued to me as soon as practicable after the option is exercised in accordance with the Stock Option Agreement. No adjustment shall be made

 
for a dividend or other right for which the record date is prior to the date of issuance except as provided in Section 11 of the Plan. 

3.    Company’s Right of First Refusal. Shares of Common Stock acquired upon the exercise of my option
are subject to any right of first refusal that may be described in the Company’s bylaws in effect at such time the Company elects to exercise its right. The Company’s right of first refusal shall expire on the Listing Date. 

4.    Restrictive Legends and Stop-Transfer Orders. 

(a)    Legends. I understand and agrees that the Company shall cause the legends set forth below or legends
substantially equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the shares of Common Stock together with any other legends that may be required by the Company or by state or federal securities laws: 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED,
SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE
THEREWITH. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND A RIGHT OF FIRST
REFUSAL HELD BY THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE EXERCISE NOTICE BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER RESTRICTIONS AND RIGHT
OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
RESTRICTIONS ON TRANSFER FOR A PERIOD OF TIME FOLLOWING THE EFFECTIVE DATE OF THE UNDERWRITTEN PUBLIC OFFERING OF THE COMPANY’S SECURITIES SET FORTH IN AN AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES AND MAY NOT BE SOLD
OR OTHERWISE DISPOSED OF BY THE HOLDER PRIOR TO THE EXPIRATION OF SUCH PERIOD WITHOUT THE CONSENT OF THE COMPANY OR THE MANAGING UNDERWRITER. 
 (b)    Stop-Transfer Notices. I agree that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer”
instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records. 
 (c)    Refusal to Transfer. The Company shall not be required (i) to transfer on its books any shares of Common Stock that have been sold or otherwise transferred in
violation of any of the provisions of this Notice of Exercise or (ii) to treat as owner of such shares of Common Stock 

  
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or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such shares of Common Stock shall have been so transferred. 

5.    Investment Representations. In connection with the purchase of the Common Stock, Purchaser represents to
the Company the following: 
 (a)    Purchaser is aware of the Company’s business affairs and financial
condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Common Stock. Purchaser is acquiring the Common Stock for investment for Purchaser’s own account only and not
with a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act. 

(b)    Purchaser understands that the Common Stock constitutes “restricted securities” under the Securities
Act and has not been registered under the Securities Act by reason of a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Purchaser’s investment intent as expressed herein. In this
connection, Purchaser understands that, in the view of the Securities and Exchange Commission, the statutory basis for such exemption may be unavailable if Purchaser’s representation was predicated solely upon a present intention to hold the
Common Stock for the minimum capital gains period specified under tax statutes, for a deferred sale, for or until an increase or decrease in the market price of the Common Stock, or for a period of one (1) year or any other fixed period in the
future. 
 (c)    Purchaser further acknowledges and understands that the Common Stock must be held
indefinitely unless the Common Stock is subsequently registered under the Securities Act or an exemption from such registration is available. Purchaser further acknowledges and understands that the Company is under no obligation to register the
Common Stock. Purchaser understands that the certificate evidencing the Common Stock will be imprinted with a legend that prohibits the transfer of the Common Stock unless the Common Stock is registered or such registration is not required in the
opinion of counsel for the Company. 
 (d)    Purchaser is familiar with the provisions of Rules 144 and 701,
under the Securities Act, as in effect from time to time, which, in substance, permit limited public resale of “restricted securities” acquired, directly or indirectly, from the issuer thereof (or from an affiliate of such issuer), in a
non-public offering subject to the satisfaction of certain conditions. Rule 701 provides that if the issuer qualifies under Rule 701 at the time of grant of the Option to Purchaser, the exercise will be exempt from registration under the Securities
Act. In the event the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the securities exempt under Rule 701 may be sold by Purchaser ninety (90) days thereafter (or such
longer period as any market stand-off agreement may require), subject to the satisfaction of certain of the conditions specified by Rule 144, including in the case of affiliates (1) the availability of certain public information about the
Company, (2) the amount of securities being sold during any three (3) month period not exceeding specified limitations, (3) the resale being made in an unsolicited “broker’s transaction”, transactions directly with a
“market maker” or “riskless principal transactions” (as those terms are defined under the Securities Exchange Act of 1934) and (4) the timely filing of a Form 144, if applicable. 

(e)    In the event that the sale of the Common Stock does not qualify under Rule 701 at the time of grant of the
Option, then the Common Stock may be resold by Purchaser in 

  
 A-3

 
certain limited circumstances subject to the provisions of Rule 144, which may require, among other things: (i) the availability of certain public information about the Company,
(ii) the resale to occur more than a specified period after the purchase and full payment (within the meaning of Rule 144) for the Securities, and made full payment of (within the meaning of Rule 144), and (iii) in the case of the
sale of Securities by an affiliate, the satisfaction of the conditions set forth in sections (2), (3) and (4) of the paragraph immediately above. 
 (f)    Purchaser further understands that at the time Purchaser wishes to sell the Common Stock there may be no public market upon which to make such a sale, and that, even if such a
public market then exists, the Company may not be satisfying the current public current information requirements of Rule 144 or 701, and that, in such event, Purchaser would be precluded from selling the Common Stock under Rule 144 or 701 even if
the minimum holding period requirement had been satisfied. 
 (g)    Purchaser further understands that in
the event all of the applicable requirements of Rule 701 or 144 are not satisfied, registration under the Securities Act, compliance with Regulation A, or some other registration exemption shall be required; and that, notwithstanding the fact
that Rules 144 and 701 are not exclusive, the Staff of the Securities and Exchange Commission has expressed its opinion that persons proposing to sell private placement securities other than in a registered offering and otherwise than pursuant to
Rules 144 or 701 shall have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales, and that such persons and their respective brokers who participate in such transactions do so at
their own risk. Purchaser understands that no assurances can be given that any such other registration exemption shall be available in such event. 
 6.    Successors and Assigns. The Company may assign any of its rights under this Notice of Exercise to single or multiple assignees, and this Notice of Exercise shall inure to
the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Notice of Exercise shall be binding upon me and my heirs, executors, administrators, successors and assigns. 

7.    Interpretation. Any dispute regarding the interpretation of this Notice of Exercise shall be submitted
by me or by the Company forthwith to the Board, which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Board shall be final and binding on all parties. 

8.    Governing Law; Severability. This Notice of Exercise is governed by the internal substantive laws, but
not the choice of law rules, of California. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Notice of Exercise shall continue in full force and effect.

 9.    Entire Agreement. The Plan, Grant Notice and Stock Option Agreement are incorporated herein
by reference. This Notice of Exercise, the Plan, Grant Notice, Stock Option Agreement and the Investment Representation Statement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their
entirety all prior undertakings and agreements of the Company and me with respect to the subject matter hereof, and may not be modified adversely to my interest except by means of a writing signed by the Company and me. 

  
 A-4

					
	Submitted by:	 		 	Accepted by:
	OPTIONHOLDER	 		 	QUALYS, INC.
			
	  	 		 	  
	Signature	 		 	By
			
	  	 		 	  
	Print Name	 		 	Print Name
			
	 	 		 	  
		 		 	Title
			
	Address:	 		 	Address:
			
	  	 		 	1600 Bridge Parkway
			
	  	 		 	Redwood Shores, CA 94065
			
	 	 		 	  
		 		 	Date Received/Date of Exercise

  
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