Document:

EX-4.8

 Exhibit 4.8 

CEPHEID 
 NOTICE OF
NON-PLAN RESTRICTED STOCK UNIT AWARD 
 (INDUCEMENT RESTRICTED STOCK UNIT AWARD) 

GRANT NUMBER:              

Unless otherwise defined herein, the terms defined in the Cepheid, a California corporation (the
“Company”), 2006 Equity Incentive Plan, as amended (the “Plan”), shall have the same meanings in this Notice of Non-Plan Restricted Stock Unit Award (the “Notice’’).

  

			
	Name:	  	James Post
		
	Address:	  	22 Hearthstone Drive
		  	Brookfield, CT 06804

 You (“Participant”) have been granted an award of Non-Plan Restricted
Stock Units (“RSUs”) subject to the terms and conditions of this Notice and the attached Non-Plan Award Agreement (Restricted Stock Units) (hereinafter “RSU Agreement”). This RSU award is not being
granted under the terms of the Plan and is instead an inducement grant pursuant to Section 5635(c)(4) of The NASDAQ Stock Market Rules. 
  

			
	Number of RSUs:	  	8,333 Shares
		
	Date of Grant:	  	December 16, 2013
		
	Vesting Commencement Date:	  	December 16, 2013
		
	Expiration Date:	  	The date on which settlement of all RSUs granted hereunder occurs, with earlier expiration upon the Termination Date.
		
	Vesting Schedule:	  	Subject to the limitations set forth in this Notice and the RSU Agreement, the RSUs will vest in accordance with the following schedule: 25% on the one-year anniversary of the Vesting Commencement Date and 6.25% on each three-month
anniversary thereafter, such that the RSUs will be fully-vested on the four-year anniversary of the Vesting Commencement Date; provided, however, that in the event of your Termination Upon Change of Control, as defined in your Change
of Control Retention and Severance Agreement with the Company (the “Change of Control Agreement”), the terms of the Change of Control Agreement shall be applicable to and shall govern the vesting schedule of the
RSUs and shall supersede all provisions to the contrary in this Notice and RSU Agreement.

 You understand that your employment or consulting relationship or service with the Company is for an
unspecified duration, can be terminated at any time (i.e., is “at-will”), and that nothing in this Notice or the RSU Agreement changes the at-will nature of that relationship. You acknowledge that the vesting of the RSUs pursuant to this
Notice is earned only by continuing service as an employee, director or consultant of the Company. You also understand that this Notice is subject to the terms and conditions of the RSU Agreement, and the Change of Control Agreement, both of which
are incorporated herein by reference. Participant has read the RSU Agreement. 
  

									
	PARTICIPANT	 		 	CEPHEID
					
	Signature:	 	 /s/ James Post
	 		 	By: 	 	/s/ John L. Bishop
					
	Print Name: 	 	James Post	 		 	Its: 	 	Chairman and CEO

 NON-PLAN AWARD AGREEMENT (RESTRICTED STOCK UNITS) 

(INDUCEMENT RESTRICTED STOCK UNIT AWARD) 

Unless otherwise defined herein, the terms defined in the Cepheid, a California corporation (the “Company”), 2006
Equity Incentive Plan, as amended, shall have the same defined meanings in this Non-Plan Award Agreement (Restricted Stock Units) (the “Agreement”). 

You (“Participant”) have been granted Restricted Stock Units (“RSUs”) subject to the terms,
restrictions and conditions of the Notice of Non-Plan Restricted Stock Unit Award (the “Notice”) and this Agreement. 
 1.
Settlement. Settlement of RSUs shall be made within 30 days following the applicable date of vesting under the vesting schedule set forth in the Notice. Settlement of RSUs shall be in Shares. 

2. No Stockholder Rights. Unless and until such time as Shares are issued in settlement of vested RSUs, Participant shall have no ownership of
the Shares allocated to the RSUs and shall have no right to dividends or to vote such Shares. 
 3. No Dividend Equivalents. Dividends, if any
(whether in cash or Shares), shall not be credited to Participant on RSUs.  
 4. No Transfer. The RSUs and any interest therein shall
not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of. 
 5. Termination. Other than as set forth in your Change
of Control Agreement, if Participant’s service Terminates for any reason, all unvested RSUs shall be forfeited to the Company forthwith, and all rights of Participant to such RSUs shall immediately terminate. In case of any dispute as to
whether a Termination has occurred, the Committee shall have sole discretion to determine whether such Termination has occurred and the effective date of such Termination. 

6. Withholding and Net Issuance of the Shares. When, under applicable tax laws, Participant incurs tax liability in connection with the vesting
or settlement of any RSUs or issuance of Shares in connection therewith that is subject to tax withholding by the Company, the Company shall satisfy the minimum tax withholding obligation on behalf of the Participant and shall withhold from the
Shares to be issued, the number of Shares having a Fair Market Value (determined on the date that the amount of tax to be withheld is determined) equal to the amount required to be withheld for income and employment taxes. 

7. U.S. Tax Consequences. Participant acknowledges that there will be tax consequences upon settlement of the RSUs or disposition of the Shares,
if any, received in connection therewith, and Participant should consult a tax adviser regarding Participant’s tax obligations prior to such settlement or disposition. Upon vesting of the RSU, Participant will include in income the Fair Market
Value of the Shares subject to the RSU. The included amount will be treated as ordinary income by Participant and will be subject to withholding by the Company when required by applicable law. Upon disposition of the Shares, any subsequent increase
or decrease in value will be treated as short-term or long-term capital gain or loss, depending on whether the Shares are held for more than one year from the date of settlement. Further, an RSU may be considered a deferral of compensation that may
be subject to Section 409A of the Code. Section 409A of the Code imposes special rules to the timing of making and effecting certain amendments of this RSU with respect to distribution of any deferred compensation. You should consult your
personal tax advisor for more information on the actual and potential tax consequences of this RSU. 
 8. Acknowledgement. The Company and
Participant agree that the RSUs are granted under and governed by the Notice and this Agreement. Participant: (i) acknowledges receipt of a copy of the Agreement prospectus, (ii) represents that Participant has carefully read and is
familiar with its provisions, and (iii) hereby accepts the RSUs subject to all of the terms and conditions set forth herein and those set forth in the Notice. 

 9. Entire Agreement; Enforcement of Rights. This Agreement, the Notice and the Change of Control
Agreement constitute the entire agreement and understanding of the parties relating to the subject matter herein and supersede all prior discussions between them. Any prior agreements, commitments or negotiations concerning the RSUs granted
hereunder are superseded. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, shall be effective unless in writing and signed by the parties to this Agreement. The failure by either party to enforce
any rights under this Agreement shall not be construed as a waiver of any rights of such party. 
 10. Compliance with Laws and Regulations.
The issuance of the RSUs and the Shares in settlement thereof will be subject to and conditioned upon compliance by the Company and Participant with all applicable state and federal laws and regulations and with all applicable requirements of any
stock exchange or automated quotation system on which the Company’s Common Stock may be listed or quoted at the time of such issuance or transfer. 

11. Governing Law; Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, the parties
agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the
balance of this Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of this Agreement shall be enforceable in accordance with its terms. This Agreement and all acts and transactions pursuant hereto and the
rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of California, without giving effect to principles of conflicts of law. 

12. No Rights as Employee, Director or Consultant. Nothing in this Agreement shall confer on Participant any right to continue in the employ of,
or other relationship with, the Company or any Parent or Subsidiary of the Company, or affect in any manner whatsoever the right or power of the Company, or a Parent or Subsidiary of the Company, to terminate Participant’s service, for any
reason, with or without cause. 
 13. Certificates. All certificates for Shares or other securities delivered upon settlement of the RSUs will
be subject to such stock transfer orders, legends and other restrictions as the Committee may deem necessary or advisable, including restrictions under any applicable federal, state or foreign securities law, or any rules, regulations and other
requirements of the SEC or any stock exchange or automated quotation system upon which the Shares may be listed or quoted. The Company shall issue the Shares registered in the name of Participant, Participant’s authorized assignee, or
Participant’s legal representative. 
 14. Adjustment of Shares. In the event that the number of outstanding shares is changed by a stock
dividend, recapitalization, stock split, reverse stock split, subdivision, combination, reclassification or similar change in the capital structure of the Company without consideration, then the number of Shares subject to the RSU will be
proportionately adjusted, subject to any required action by the Board or the Participant and compliance with applicable securities laws; provided, however, that fractions of a Share will not be issued but will either be replaced by a
cash payment equal to the Fair Market Value of such fraction of a Share or will be rounded up to the nearest whole Share, as determined by the Committee. 

15. Insider Trading Policy. Participant shall comply with the Insider Trading Policy adopted by the Company from time to time covering
transactions in the Company’s securities by employees, officers and/or directors of the Company. 

 16. Corporate Transactions. 

16.1 Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Company shall notify
the Participant at least thirty (30) days prior to such proposed action. The RSU will terminate immediately prior to the consummation of such proposed action. 

16.2 Assumption or Replacement of RSU by Successor. In the event of a merger of the Company with or into another corporation, or
the sale of substantially all of the assets of the Company, the RSU shall be assumed or an equivalent award substituted by the successor corporation (including as a “successor” any purchaser of substantially all of the assets of the
Company) or a parent or subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the RSU, the RSU shall vest and immediately settle upon the consummation of merger of the Company with
or into another corporation, or the sale of substantially all of the assets of the Company. For the purposes of this paragraph, the RSU shall be considered assumed if, following the merger or sale of assets, the RSU confers the right to receive, for
each share of Common Stock subject to the RSU immediately prior to the merger or sale of assets, the consideration (whether stock, cash, or other securities or property) received in the merger or sale of assets by holders of Common Stock for each
share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares); provided, however, that if such
consideration received in the merger or sale of assets was not solely common stock of the successor corporation or its parent entity, the Company may, with the consent of the successor corporation, provide for the consideration to be received upon
the settlement of the RSU, for each share of Common Stock subject to the RSU, to be solely common stock of the successor corporation or its parent entity equal in Fair Market Value to the per share consideration received by holders of Common Stock
in the merger or sale of assets. 
 16.3 Other Treatment of RSU. Subject to any greater rights granted to the Participant
under the foregoing provisions of this section, in the event of the occurrence of any transaction described in Section 16.2, this RSU will be treated as provided in the applicable agreement or plan of merger, consolidation, dissolution,
liquidation, or sale of assets. 
 17. Exchange and Buy-Out of RSUs. The Committee may, at any time or from time to time authorize the
Company, and with the consent of the respective Participant, to pay cash or issue new awards in exchange for the surrender and cancellation of any, or all, outstanding RSUs. 

18. Administration. This Agreement and the Notice shall be administered by the Committee or by the Board acting as the Committee. The Committee
shall have the authority to (i) construe and interpret the Notice and this Agreement, (ii) prescribe, amend and rescind rules and regulations relating to the RSU; (iii) grant waivers of conditions subject to the RSU; (iv) correct
any defect, supply any omission or reconcile any inconsistency in this Agreement; and (v) make all other determinations necessary or advisable for the administration of the Notice and this Agreement. 

19. Committee Discretion. Any determination made by the Committee with respect to the RSU may be made in its sole discretion at any time, unless
in contravention of any express term of this Agreement which requires such determination to be made at the time of grant of the RSU, and such determination will be final and binding on the Company and the Participant. Notwithstanding anything to the
contrary, administration of the Notice and this Agreement shall at all times be limited by the requirement that any administrative action or exercise of discretion shall be void (or suitably modified when possible) if necessary to avoid the
application to Participant of taxation under Section 409A of the Code. 
 20. Disputes. Any dispute regarding the interpretation of this
Agreement shall be submitted by Participant or the Company to the Committee for review. The resolution of such a dispute by the Committee shall be final and binding on the Company and Participant. 

 21. Successors and Assigns. The Company may assign any of its rights under this Agreement. This
Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement shall be binding upon Participant and Participant’s heirs,
executors, administrators, legal representatives, successors and assigns. 
 22. Amendment of the Agreement. The Committee may at any time
amend this Agreement in any respect; provided, however, that the Committee will not, without the approval of the Participant, amend this Agreement in any manner that impairs the rights of Participant. 

23. Definitions. As used in this Agreement, the following terms will have the following meanings: 

“Board” means the Board of Directors of the Company. 

“Change of Control Agreement” means the Change of Control Retention and Severance Agreement between Participant and
the Company dated on or about December 16, 2013. 
 “Committee” means the Compensation Committee of the Board.

 “Common Stock” means common stock of the Company. 

“Fair Market Value” means, as of any date, the value of a share of the Company’s Common Stock determined as
follows: 
 (a) if such Common Stock is publicly traded and is then listed on a national securities exchange, its closing price on the date
of determination on the principal national securities exchange on which the Common Stock is listed or admitted to trading as reported in The Wall Street Journal; 

(b) if such Common Stock is publicly traded but is not quoted on the Nasdaq Stock Market nor listed or admitted to trading on a national
securities exchange, the average of the closing bid and asked prices on the date of determination as reported in The Wall Street Journal; or 

(c) if none of the foregoing is applicable, by the Committee in good faith. 

“Parent” means any corporation (other than the Company) in an unbroken chain of corporations ending with the Company
if each of such corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

“Shares” means shares of the Company’s Common Stock, as adjusted pursuant to Sections 14 and 16, and any
successor security. 
 “Subsidiary” means any corporation (other than the Company) in an unbroken chain of
corporations beginning with the Company if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations
in such chain. 
 “Termination” or “Terminated” means, for purposes of this Agreement with
respect to the Participant, that the Participant has for any reason ceased to provide services as an employee, officer, director, consultant, independent contractor, or advisor to the Company or a Parent or Subsidiary of the Company. An employee
will not be deemed to have ceased to provide services in the case of (i) sick leave, (ii) military leave, or (iii) any other leave of absence approved by the Committee, provided, that such leave is for a period of not more than 90
days, unless reemployment upon the expiration of such leave is guaranteed by contract or statute or unless provided otherwise pursuant to formal policy adopted from time to time by the Company and issued

 
and promulgated to employees in writing. In the case of the Participant is on an approved leave of absence, the Committee may make such provisions respecting suspension of vesting of the
RSU while on leave from the employ of the Company or a Subsidiary as it may deem appropriate. The Committee will have sole discretion to determine whether the Participant has ceased to provide services and the effective date on which the Participant
ceased to provide services (the “Termination Date”). 
 By your signature and the signature of the
Company’s representative on the Notice, Participant and the Company agree that the RSUs are granted under and governed by the terms and conditions of the Notice, this Agreement and the Change of Control Agreement. Participant has reviewed the
Notice and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement, and fully understands all provisions of the Notice and this Agreement. Participant hereby agrees to accept as
binding, conclusive and final all decisions or interpretations of the Committee upon any questions relating to the Notice and this Agreement. Participant further agrees to notify the Company upon any change in Participant’s residence address.EX-4.9

 Exhibit 4.9 

CEPHEID 
 NON-PLAN
STOCK OPTION AGREEMENT 
 (INDUCEMENT STOCK OPTION AWARD) 

This Stock Option Agreement (this “Agreement”) is made and entered into as of the date of grant set forth below (the
“Date of Grant”) by and between Cepheid, a California corporation (the “Company”), and the optionee named below (“Optionee”). Capitalized terms not defined herein shall have the
meaning ascribed to them in Section 24 or, if not defined therein, in the Company’s 2006 Equity Incentive Plan (the “Plan”). 
  

					
	Optionee:	 	 Warren Kocmond
	 	
			
	Social Security Number:	 	  
	 	
			
	Optionee’s Address:	 	  
	 	
			
		 	  
	 	
			
	Total Option Shares:	 	 75,000
	 	
			
	Exercise Price Per Share:	 	  
	 	
			
	Date of Grant:	 	 May 6, 2013
	 	
			
	First Vesting Date:	 	 May 6, 2014
	 	
			
	Expiration Date:	 	 May 6, 2020
	 	
			
	Type of Stock Option:	 	 Non-Qualified Stock Option
	 	

 1. Grant of Option. The Company hereby grants to Optionee an option (this
“Option”) to purchase up to the total number of shares of common stock of the Company (“Common Stock”), set forth above (collectively, the “Shares”) at the Exercise Price Per
Share set forth above (the “Exercise Price”), subject to all of the terms and conditions of this Agreement. This option is not being granted under the terms of the Plan and is instead an inducement grant pursuant to
Section 5635(c)(4) of The NASDAQ Stock Market Rules. 
 2. Vesting; Exercise Period. 

2.1 Vesting of Shares. This Option shall be exercisable as it vests and shall not be exercisable with respect to any of the Shares
until the First Vesting Date. Subject to the terms and conditions of this Agreement, this Option shall vest and become exercisable as to portions of the Shares as follows: If Optionee has continuously provided services to the Company, or any Parent
or Subsidiary of the Company from the Date of Grant through and including the First Vesting Date, then on the First Vesting Date, this Option shall become exercisable as to twenty-five percent (25%) of the Shares. This Option shall become
exercisable as to an additional 2.08333% of the Shares on each monthly anniversary after the First Vesting Date, provided that Optionee has continuously provided services to the Company, or any Parent or Subsidiary of the Company, at all times
during the relevant month; provided, however, that in the event of Optionee’s Termination Upon Change of Control, as defined in Optionee’s Change of Control Retention and Severance Agreement with the Company (the
“Change of Control Agreement”), the terms of the Change of Control Agreement shall be applicable to and shall 

 
govern the vesting and exercise periods of the Option and shall supersede all provisions to the contrary in this Agreement. Optionee shall in no event be entitled under this Option to purchase a
number of shares of the Company’s Common Stock greater than the Total Option Shares set forth above. 
 2.2 Expiration. This
Option shall expire on the Expiration Date set forth above and must be exercised, if at all, on or before the earlier of the Expiration Date or the date on which this Option is earlier terminated in accordance with the provisions of Section 3,
provided, however, that this Option will be not be exercisable after the expiration of seven (7) years from the Date of Grant. 

2.3 Cessation of Vesting Due to Schedule Change. In the event Optionee voluntarily chooses (i.e., other than for reasons protected by
law) to reduce his work schedule with the Company to fewer than twenty (20) hours per week, the Shares subject to the Option shall cease to vest during the period of time in which Optionee regularly maintains such a schedule. Shares subject to
the Option shall begin to vest again once Optionee is regularly scheduled to work twenty (20) hours or more per week. The Committee shall make the determination as to when vesting shall cease or begin again. The Committee may, in its
discretion, permit Shares subject to the Option to continue to vest during the time that Optionee is regularly scheduled to work fewer than (20) hours per week. 

3. Termination. 

3.1 Termination for Any Reason Except Death, Disability or Cause. If Optionee is Terminated for any reason except Optionee’s
death, Disability or Cause, then this Option, to the extent (and only to the extent) that it is vested in accordance with the schedule set forth in Section 2.1 of this Agreement on the date of Termination, may be exercised by Optionee no later
than three (3) months after the date of Termination, but in any event no later than the Expiration Date. 
 3.2 Termination Because
of Death. If the Optionee is Terminated because of Optionee’s death (or the Optionee dies within three (3) months after a Termination other than for Cause or because of the Optionee’s Disability), then the Option may be exercised
only to the extent that such Option would have been exercisable by the Optionee on the Termination Date and must be exercised by the Optionee’s legal representative or authorized assignee no later than twelve (12) months after the
Termination Date (or such shorter time period not less than six (6) months or longer time period not exceeding five (5) years as may be determined by the Committee), but in any event no later than the Expiration Date. 

3.3 Termination Because of Disability. If the Optionee is Terminated because of Optionee’s Disability, then the Option may be
exercised only to the extent that such Option would have been exercisable by the Optionee on the Termination Date and must be exercised by the Optionee (or the Optionee’s legal representative or authorized assignee) no later than twelve
(12) months after the Termination Date, but in any event no later than the Expiration Date. 

  
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 3.4 Termination for Cause. If Optionee is Terminated for Cause, this Option will expire on
the Optionee’s date of Termination, or at such later time and on such conditions as are determined by the Compensation Committee of the Company’s Board of Directors. 

3.5 No Obligation to Employ. Nothing in this Agreement shall confer on Optionee any right to continue in the employ of, or other
relationship with, the Company or any Parent or Subsidiary of the Company, or limit in any way the right of the Company or any Parent or Subsidiary of the Company to terminate Optionee’s employment or other relationship at any time, with or
without Cause. 
 4. Manner of Exercise. 

4.1 Stock Option Exercise Agreement. To exercise this Option, Optionee (or in the case of exercise after Optionee’s death,
Optionee’s executor, administrator, heir or legatee, as the case may be) must deliver to the Company an executed stock option exercise agreement in the form attached hereto as Exhibit A, or in such other form as may be approved by the
Company from time to time (the “Exercise Agreement”), which shall set forth, inter alia, Optionee’s election to exercise this Option, the number of shares being purchased (the “Exercised
Shares”), any restrictions imposed on the Shares and any representations, warranties and agreements regarding Optionee’s investment intent and access to information as may be required by the Company to comply with applicable
securities laws, together with payment in full of the Exercise Price for the number of Shares being purchased. Assuming such compliance, for income tax purposes the Exercised Shares shall be considered transferred to the Optionee on the date the
Option is exercised with respect to such Exercised Shares. If someone other than Optionee exercises this Option, then such person must submit documentation reasonably acceptable to the Company that such person has the right to exercise this Option.

 4.2 Limitations on Exercise. This Option may not be exercised unless such exercise is in compliance with all applicable federal
and state securities laws, as they are in effect on the date of exercise. This Option may not be exercised as to fewer than 100 Shares unless it is exercised as to all Shares as to which this Option is then exercisable. 

4.3 Payment. Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of the
Optionee: 
 (a) cash; or 

(b) check; or 
 (c) provided
that a public market for the Company’s Common Stock exists and subject to the Company’s insider trading policies, through a “same day sale” commitment from the Optionee and a broker-dealer that is a member of the National
Association of Securities Dealers (an “NASD Dealer”) whereby the Optionee irrevocably elects to exercise 

  
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the Option and to sell a portion of the Shares so purchased to pay for the Exercise Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the Exercise
Price directly to the Company; or 
 (d) other method authorized by the Company. 

4.4 Tax Withholding. Prior to the issuance of the Shares upon exercise of this Option, Optionee must pay or provide for any applicable
federal or state withholding obligations of the Company. If the Committee permits, Optionee may provide for payment of withholding taxes upon exercise of this Option by requesting that the Company retain Shares with a Fair Market Value equal to the
minimum amount of taxes required to be withheld determined on the date that the amount of tax to be withheld is to be determined. In such case, the Company shall issue the net number of Shares to the Optionee by deducting the Shares retained from
the Shares issuable upon exercise. 
 4.5 Issuance of Shares. Provided that the Exercise Agreement and payment are in form and
substance satisfactory to counsel for the Company, the Company shall issue the Shares registered in the name of Optionee, Optionee’s authorized assignee, or Optionee’s legal representative, and shall deliver certificates representing the
Shares with the appropriate legends affixed thereto. 
 5. Compliance with Laws and Regulations. The exercise of this Option
and the issuance and transfer of Shares shall be subject to compliance by the Company and Optionee with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the
Company’s Common Stock may be listed at the time of such issuance or transfer. Optionee understands that the Company is under no obligation to register or qualify the Shares with the Securities and Exchange Commission
(“SEC”), any state securities commission or any stock exchange to effect such compliance. 
 6.
Nontransferability of Option. This Option may not be transferred in any manner other than by will or by the laws of descent and distribution and may be exercised (i) during the lifetime of Optionee only by Optionee, and
(ii) after Optionee’s death, by the legal representative of the Optionee’s heirs or legatees. The terms of this Option shall be binding upon the executors, administrators, successors and assigns of Optionee. 

7. Tax Consequences. Set forth below is a brief summary of some of the federal and California tax consequences of exercise of
this Option and disposition of the Shares, as of the date of the Option. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. OPTIONEE SHOULD CONSULT A TAX ADVISOR BEFORE EXERCISING THE OPTION OR DISPOSING
OF THE SHARES. 
 7.1 Exercise of Nonqualified Stock Option. There may be a regular federal and California income tax liability upon
the exercise of this Option. Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to 

  
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the excess, if any, of the fair market value of the Shares on the date of exercise over the Exercise Price. The Company will be required to withhold from Optionee’s compensation or collect
from Optionee and pay to the applicable taxing authorities an amount equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver the Shares if such withholding amounts are not
delivered at the time of exercise. 
 7.2 Disposition of Shares. If the Shares are held for more than twelve (12) months after
the date of the transfer of the Shares pursuant to the exercise of an NQSO, any gain realized on disposition of the Shares will be treated as long-term capital gain, as the case may be for federal income tax purposes. 

7.3 Possible Effect of Section 409A of the Code. Section 409A of the Code applies to arrangements that provide for the
deferral of compensation. Generally, a stock option granted with an exercise price per share of not less than the “fair market value” (determined in a manner consistent with Section 409A of the Code and the regulations and other
guidance promulgated thereunder) per share on the date of grant of the stock option and with no other feature providing for the deferral of compensation will not be subject to Section 409A of the Code. However, if the exercise price of the
stock option is less than such “fair market value” or the stock option has another feature for the deferral of compensation, then if the stock option is not administered within the parameters established under Section 409A the
optionholder will be subject to additional taxes. Also, the amount deemed to be deferred compensation under Section 409A of the Code will be subject to ordinary income and employment taxes. If Section 409A of the Code does apply to this
Option, then special rules apply to the timing of making and effecting certain amendments of this Option with respect to distribution of any deferred compensation. 

8. Privileges of Stock Ownership. Optionee shall not have any of the rights of a shareholder with respect to any Shares until
Optionee exercises this Option and pays the Exercise Price. After Shares are issued to the Optionee, the Optionee will be a shareholder and have all the rights of a shareholder with respect to such Shares, including the right to vote and receive all
dividends or other distributions made or paid with respect to such Shares. 
 9. Interpretation. Any dispute regarding the
interpretation of this Agreement shall be submitted by Optionee or the Company to the Committee for review. The resolution of such a dispute by the Committee shall be final and binding on the Company and Optionee. 

10. Entire Agreement. This Agreement, the Exercise Agreement and the Change in Control Agreement constitute the entire agreement
and understanding of the parties hereto with respect to the subject matter hereof and supersede all prior understandings and agreements with respect to such subject matter. 

11. Notices. Any notice required to be given or delivered to the Company under the terms of this Agreement shall be in writing
and addressed to the Corporate Secretary of the Company at its principal corporate offices. Any notice required to be given or delivered to Optionee shall be in writing and addressed to Optionee at the address indicated above or to such

  
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other address as such party may designate in writing from time to time to the Company. All notices shall be deemed to have been given or delivered upon: personal delivery; three (3) days
after deposit in the United States mail by certified or registered mail (return receipt requested); one (1) business day after deposit with any return receipt express courier (prepaid); or one (1) business day after transmission via
electronic means. Optionee agrees to notify the Company upon any change in the residence address indicated on the first page of the Agreement. 

12. Successors and Assigns. The Company may assign any of its rights under this Agreement. This Agreement shall be binding upon
and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement shall be binding upon Optionee and Optionee’s heirs, executors, administrators, legal
representatives, successors and assigns. 
 13. Governing Law. This Agreement shall be governed by and construed in accordance
with the internal laws of the State of California, without regard to that body of law pertaining to choice of law or conflict of law. 

14. Acceptance. Optionee hereby acknowledges receipt of a copy of this Agreement. Optionee has read and understands the terms
and provisions thereof, and accepts this Option subject to all the terms and conditions of this Agreement. Optionee has had an opportunity to obtain the advice of counsel prior to executing this Agreement. Optionee acknowledges that there may be
adverse tax consequences upon exercise of this Option or disposition of the Shares and that the Company has advised Optionee to consult a tax advisor prior to such exercise or disposition. 

15. Modification, Extension or Renewal. The Committee may modify, extend or renew this Option and authorize the grant of new
options in substitution therefor, provided that any such action may not, without the written consent of the Optionee, impair any of such Optionee’s rights under this Option. 

16. Certificates. All certificates for Shares or other securities delivered upon exercise of this Option will be subject to such
stock transfer orders, legends and other restrictions as the Committee may deem necessary or advisable, including restrictions under any applicable federal, state or foreign securities law, or any rules, regulations and other requirements of the SEC
or any stock exchange or automated quotation system upon which the Shares may be listed or quoted. 
 17. Adjustment of
Shares. In the event that the number of outstanding shares is changed by a stock dividend, recapitalization, stock split, reverse stock split, subdivision, combination, reclassification or similar change in the capital structure of the
Company without consideration, then the Exercise Price of and the number of Shares subject to this Option will be proportionately adjusted, subject to any required action by the Board or the Optionee and compliance with applicable securities laws;
provided, however, that fractions of a Share will not be issued but will either be replaced by a cash payment equal to the Fair Market Value of such fraction of a Share or will be rounded up to the nearest whole Share, as determined by
the Committee. 

  
 -6- 

 18. Corporate Transactions. 

18.1 Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Company shall notify the
Optionee at least thirty (30) days prior to such proposed action. The Option will terminate immediately prior to the consummation of such proposed action. 

18.2 Assumption or Replacement of Option by Successor. In the event of a merger of the Company with or into another corporation, or the
sale of substantially all of the assets of the Company, the Option shall be assumed or an equivalent award substituted by the successor corporation (including as a “successor” any purchaser of substantially all of the assets of the
Company) or a parent or subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the Option, the Optionee shall have the right to exercise the Option as to all of the shares of Common
Stock covered by the Option, including Shares as to which it would not otherwise be exercisable. If an Option is exercisable in lieu of assumption or substitution in the event of a merger or sale of assets, the Company shall notify the Optionee that
the Option shall be fully exercisable for a period of fifteen (15) days from the date of such notice, and the Option shall terminate upon the expiration of such period. For the purposes of this paragraph, the Option shall be considered assumed
if, following the merger or sale of assets, the Option confers the right to purchase or receive, for each share of Common Stock subject to the Option immediately prior to the merger or sale of assets, the consideration (whether stock, cash, or other
securities or property) received in the merger or sale of assets by holders of Common Stock for each share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the
holders of a majority of the outstanding shares); provided, however, that if such consideration received in the merger or sale of assets was not solely common stock of the successor corporation or its parent entity, the Company may, with the consent
of the successor corporation, provide for the consideration to be received upon the exercise of the Option, for each share of Common Stock subject to the Option, to be solely common stock of the successor corporation or its parent entity equal in
fair market value to the per share consideration received by holders of Common Stock in the merger or sale of assets. 
 18.3 Other
Treatment of Option. Subject to any greater rights granted to the Optionee under the foregoing provisions of this section, in the event of the occurrence of any transaction described in Section 18.1, this Option will be treated as provided
in the applicable agreement or plan of merger, consolidation, dissolution, liquidation, or sale of assets. 
 19. Insider Trading
Policy. Optionee shall comply with the Insider Trading Policy adopted by the Company from time to time covering transactions in the Company’s securities by employees, officers and/or directors of the Company. 

  
 -7- 

 20. Administration. This Agreement shall be administered by the Committee or by the
Board acting as the Committee. The Committee shall have the authority to (i) construe and interpret this Agreement, (ii) prescribe, amend and rescind rules and regulations relating to the Option; (iii) grant waivers of conditions
subject to the Option; (iv) correct any defect, supply any omission or reconcile any inconsistency in this Agreement; and (v) make all other determinations necessary or advisable for the administration of this Agreement. 

21. Committee Discretion. Any determination made by the Committee with respect to the Option may be made in its sole discretion
at any time, unless in contravention of any express term of this Agreement which requires such determination to be made at the time of grant of the Option, and such determination will be final and binding on the Company and the Optionee.
Notwithstanding anything to the contrary, administration of this Agreement shall at all times be limited by the requirement that any administrative action or exercise of discretion shall be void (or suitably modified when possible) if necessary to
avoid the application to Optionee of taxation under Section 409A of the Code. 
 22. Disputes. Any dispute regarding the
interpretation of this Agreement shall be submitted by Optionee or the Company to the Committee for review. The resolution of such a dispute by the Committee shall be final and binding on the Company and Optionee. 

23. Amendment or Termination of the Agreement. The Committee may at any time terminate or amend this Agreement in any respect;
provided, however, that the Committee will not, without the approval of the Optionee, amend this Agreement in any manner that impairs the rights of Optionee. 

24. Definitions. As used in this Agreement, the following terms will have the following meanings: 

“Board” means the Board of Directors of the Company. 

“Cause” has the meaning set forth in the Change of Control Agreement. 

“Change of Control Agreement” means the Change of Control Retention and Severance Agreement between Participant and
the Company dated on or about May 6, 2013. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Committee” means the Compensation Committee of the Board. 

“Disability” means a disability, whether temporary or permanent, partial or total, as determined by the Committee.

 “Exercise Price” means the price at which a holder of an Option may purchase the Shares issuable upon exercise of
the Option. 

  
 -8- 

 “Fair Market Value” means, as of any date, the value of a share of the
Company’s Common Stock determined as follows: 
  

	 	(a)	if such Common Stock is publicly traded and is then listed on a national securities exchange, its closing price on the date of determination on the principal national securities exchange on which the Common Stock is
listed or admitted to trading as reported in The Wall Street Journal; 

  

	 	(b)	if such Common Stock is publicly traded but is not quoted on the Nasdaq Stock Market nor listed or admitted to trading on a national securities exchange, the average of the closing bid and asked prices on the date of
determination as reported in The Wall Street Journal; or 

  

	 	(c)	if none of the foregoing is applicable, by the Committee in good faith. 

“Parent” means any corporation (other than the Company) in an unbroken chain of corporations ending with the Company
if each of such corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

“Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the
Company if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

“Termination” or “Terminated” means, for purposes of this Agreement with respect to the
Optionee, that the Optionee has for any reason ceased to provide services as an employee, officer, director, consultant, independent contractor, or advisor to the Company or a Parent or Subsidiary of the Company. An employee will not be deemed to
have ceased to provide services in the case of (i) sick leave, (ii) military leave, or (iii) any other leave of absence approved by the Committee, provided, that such leave is for a period of not more than 90 days, unless reemployment
upon the expiration of such leave is guaranteed by contract or statute or unless provided otherwise pursuant to formal policy adopted from time to time by the Company and issued and promulgated to employees in writing. In the case of the Optionee is
on an approved leave of absence, the Committee may make such provisions respecting suspension of vesting of this Option while on leave from the employ of the Company or a Subsidiary as it may deem appropriate, except that in no event may this Option
be exercised after the expiration of the term set forth in this Agreement. The Committee will have sole discretion to determine whether the Optionee has ceased to provide services and the effective date on which the Optionee ceased to provide
services (the “Termination Date”). 
 [Remainder of Page Intentionally Left Blank] 

  
 -9- 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed in duplicate by
its duly authorized representative and Optionee has executed this Agreement in duplicate as of the Date of Grant. 
  

							
	CEPHEID	 		 	WARREN KOCMOND, OPTIONEE
				
	By: 	 	/s/ John L. Bishop	 		 	/s/ Warren Kocmond
		 		 		 	(Signature)
			
	 John L. Bishop
	 		 	
	(Please print name)	 		 	
			
	 Chairman and CEO
	 		 	
	(Please print title)	 		 	

  
 -10- 

 EXHIBIT A 

NON-PLAN STOCK OPTION EXERCISE AGREEMENT 

 Exhibit A 

CEPHEID 
 NON-PLAN
STOCK OPTION EXERCISE AGREEMENT 
 I hereby elect to purchase the number of shares of Common Stock (the
“Shares”) of Cepheid (the “Company”) as set forth below: 

 

			
	Optionee:	 	 Warren Kocmond

	Social Security Number:	 	  

	Address:	 	  

		 	  

	Type of Option:	 	 Non-Qualified Stock Option

			
	Number of Shares Purchased:	 	  

	Purchase Price per Share:	 	 $

	Aggregate Purchase Price:	 	  

	Date of Option Agreement:	 	 May 6, 2013

	Exact Name of Title to Shares:	 	
	  

 
 

  
 1. Delivery of Purchase Price.
Optionee hereby delivers to the Company the Aggregate Purchase Price for the Shares, to the extent permitted in the Non-Plan Stock Option Agreement (the “Option Agreement”) as follows (check as applicable and complete): 

 

	 ̈	in cash (by check) in the amount of $            , receipt of which is acknowledged by the Company; 

 

	 ̈	through a “same-day-sale” commitment, delivered herewith, from Optionee and the NASD Dealer named therein, in the amount of $            ; or

  

	 ̈	through a “margin” commitment, delivered herewith from Optionee and the NASD Dealer named therein, in the amount of $            . 

2. Undertakings. If Optionee is married, the Spousal Consent, attached hereto as Exhibit 1, should be completed by Optionee’s spouse and
returned with this Agreement. Optionee understands that any purchase or sale of the Shares must be in compliance with the Company’s insider trading policy, as such policy may be amended from time to time.  

3. Tax Consequences. OPTIONEE UNDERSTANDS THAT OPTIONEE MAY SUFFER ADVERSE TAX CONSEQUENCES AS A RESULT OF OPTIONEE’S PURCHASE OR DISPOSITION
OF THE SHARES. OPTIONEE REPRESENTS THAT OPTIONEE HAS CONSULTED WITH ANY TAX CONSULTANT(S) OPTIONEE DEEMS ADVISABLE IN CONNECTION WITH THE PURCHASE OR DISPOSITION OF THE SHARES AND THAT OPTIONEE IS NOT RELYING ON THE COMPANY FOR ANY TAX ADVICE. 

 4. Entire Agreement. The Option Agreement is incorporated herein by reference. This Non-Plan Stock Option Exercise Agreement and the Option
Agreement constitute the 

 
entire agreement and understanding of the parties and supersede in their entirety all prior understandings and agreements of the Company and Optionee with respect to the subject matter hereof,
and are governed by California law except for that body of law pertaining to choice of law or conflict of law. 
  

									
	Date:	 	  
	 		 	  

		 		 		 	Signature of Optionee

 Spousal Consent 

I have read the foregoing Non-Plan Stock Option Exercise Agreement (the “Agreement”) and I know its contents. I
consent to and approve of the Agreement, and agree that the shares of the Common Stock of Cepheid purchased pursuant to the Agreement (the “Shares”) including any interest I may have in the Shares are subject to all the
provisions of the Agreement. I will take no action at any time to hinder application of the Agreement to the Shares or any interest I may have in the Shares. 
  

							
	  
	 		 	Date:	 	  

	Signature of Optionee’s Spouse	 		 		 	
				
	  
	 		 		 	
	Spouse’s Name	 		 		 	
				
	 Warren Kocmond
	 		 		 	
	Optionee’s Name

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