Document:

EX-10.1

 Exhibit 10.1 

CHANGE IN CONTROL AGREEMENT 

This Change in Control Agreement (this “Agreement”) is made effective as of this 6th day of August, 2020, by
and between Centennial Bank (“Centennial”), Home BancShares, Inc. (“HBI,” and together with Centennial, the “Company”), and
                     (“Employee”). 

RECITAL 

WHEREAS, the Employee is a senior employee of the Company and has made and is expected to continue to make major contributions to the
short- and long-term profitability, growth, and financial strength of the Company; 
 WHEREAS, the board of directors of HBI (the
“Board”) recognizes that, as is the case for most publicly held companies, the possibility of an acquisition, merger or other corporate transactional event exists and it is in the Company’s best interest to retain
Employee and reward Employee for assisting the Company through any such transactional event; 
 WHEREAS, the Company desires to
assure itself of both present and future continuity of management and desires to establish certain benefits for valued employees such as Employee, applicable in the event of such corporate transactional event; 

NOW, THEREFORE, in consideration of the premises and of the mutual covenants and conditions herein contained, the parties hereto,
intending to be legally bound, do hereby agree as follows: 
 1.    Definitions. For purposes of this
Agreement, and except as otherwise defined herein, the following terms shall have the following meanings: 

a.    “Base Amount” shall mean the average annual compensation which (i) was payable to
Employee by HBI and its affiliates and (ii) was includible in the gross income of the Employee for the most recent five taxable years ending before the date on which a Change in Control occurs, which as of the date of this Agreement is the same
meaning ascribed to the term “base amount” in Section 280G(b)(3)(A) of the Code. 

b.    “Beneficial Owner” has the meaning ascribed to it in Rule
13d-3 and Rule 13d-5 under the Exchange Act; except that, in calculating the beneficial ownership of any particular Person, such Person shall be deemed to have
beneficial ownership of all securities that such Person has the right to acquire by conversion or exercise of other securities, provided such right is currently exercisable or is exercisable only after the passage of time. The term “Beneficial
Ownership” has a corresponding meaning. 
 c.    “Board” means the board of directors of
HBI. 
 d.    “Cause” shall mean any one of the following events as determined by the Company in
its reasonable discretion: (a) the Employee’s willful failure to perform his or her duties (other than any such failure resulting from incapacity due to physical or mental illness); (b) the

  
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Employee’s willful failure to comply with any valid and legal directive of the Board or the person to whom the Employee reports; (c) the Employee’s willful engagement in
dishonesty, illegal conduct or gross misconduct; (d) the Employee’s embezzlement, misappropriation or fraud, whether or not related to the Employee’s employment with the Company; (e) the Employee’s conviction of or plea of
guilty or nolo contendere to a crime that constitutes a felony (or state law equivalent) or a crime that constitutes a misdemeanor involving moral turpitude; or (f) the Employee’s material violation of the Company’s written
policies or codes of conduct related to discrimination, harassment, performance of illegal or unethical activities, and ethical misconduct. 

e.    “Change in Control” means, after the date of this Agreement, the first occurrence of any of
the following: 
 i.    one Person (or more than one Person acting as a group) acquires Beneficial Ownership of stock
of Centennial or HBI that, together with the stock held by such Person or group, constitutes more than forty percent (40%) of the total fair market value or total voting power of the stock of Centennial or HBI; 

ii.    a majority of the members of the Board are replaced during any twelve-month period by directors whose appointment
or election is not endorsed by a majority of the Board before the date of appointment or election; or 
 iii.    one
Person (or more than one Person acting as a group), acquires (or has acquired during the twelve-month period ending on the date of the most recent acquisition) assets from Centennial or HBI that have a total gross fair market value equal to or more
than forty percent (40%) of the total gross fair market value of all of the assets of Centennial or HBI immediately before such acquisition(s). 

A Change in Control will be deemed to occur: (a) with respect to a Change in Control pursuant to subparagraph (i) above, on the date
that any Person or group first becomes the Beneficial Owner, directly or indirectly, of stock representing more than forty percent (40%) of the combined voting power of Centennial’s or HBI’s then-outstanding stock entitled generally to
vote for the election of directors; (b) with respect to subparagraph (ii) above, on the date members of the incumbent board first cease to constitute at least a majority of the Board, and (c) with respect to a Change in Control
pursuant to subparagraph (iii) above, on the date the applicable transaction closes. There shall be no more than one Change in Control event under this Agreement. 

f.    “Code” means the U.S. Internal Revenue Code of 1986, as it may be amended from time to time.
Any reference to a section of the Code shall be deemed to include a reference to any regulations promulgated thereunder. 

g.    “Excess Parachute Payment” shall have the same meaning as the term “excess parachute
payment” defined in Section 280G(b)(1) of the Code. 
 h.    “Exchange Act” means the
Securities and Exchange Act of 1934, as amended. 

  
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 i.    “Parachute Payment” shall have the same
meaning as the term “parachute payment” defined in Section 280G(b)(2) of the Code. 

j.    “Person” has the meaning ascribed to it in Section 13(d)(3) of the Exchange Act. 

k.    “Reasonable Compensation” shall have the same meaning as provided in Section 280G(b)(4)
of the Code. 
 2.    Change in Control Payment. Upon the occurrence of a Change in Control, the Company
shall pay Employee a cash payment equal to 2.99 times the Base Amount (the “Change in Control Payment”). The Change in Control Payment shall be paid to Employee in a single lump sum within thirty (30) days following the
date of the applicable event constituting a Change in Control as defined herein. Notwithstanding anything contained herein the contrary, there shall be no more than one Change in Control Payment payable under this Agreement, and the Change in
Control Payment shall be subject to reduction as provided in Sections 3 and 4 of this Agreement. 

3.    Limitation of Benefits. 

a.    Anything in this Agreement to the contrary notwithstanding, the Company shall not be obligated to make any payment
hereunder that would be prohibited as a “golden parachute payment” or “indemnification payment” under Section 18(k) of the Federal Deposit Insurance Act. 

b.    Anything in this Agreement to the contrary notwithstanding, the Company shall not be obligated to make any payment
hereunder that would cause the total compensation and benefits payable to the Employee upon a Change in Control to exceed $                 even if such cash amount or
benefit would not be deemed an Excess Parachute Payment. 
 4.    Section 280G.  

a.    Notwithstanding anything in this Agreement to the contrary, if any of the compensation or benefits payable, or to be
provided, to the Employee by the Company under this Agreement are treated as Excess Parachute Payments (whether alone or in conjunction with payments or benefits outside of this Agreement), the compensation and benefits provided under this Agreement
shall be modified or reduced in the manner provided in Subsection (b) below to the extent necessary so that the compensation and benefits payable or to be provided to Employee under this Agreement that are treated as Parachute Payments, as well
as any compensation or benefits provided outside of this Agreement that are so treated, shall not cause the Company to have paid an Excess Parachute Payment. In computing such amount, the parties shall take into account all provisions of Code
Section 280G, and the regulations thereunder, including making appropriate adjustments to such calculation for amounts established to be Reasonable Compensation. 

  
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 b.    In the event that the amount of any Parachute Payments which would
be payable to or for the benefit of the Employee under this Agreement must be modified or reduced to comply with this Section 4, any reduction shall be made by the Company in accordance with the requirements of Section 409A of the Code and
the following: 
 (i)    The Parachute Payments which do not constitute nonqualified deferred
compensation subject to Section 409A of the Code shall be reduced first; and 
 (ii)    All other
Parachute Payments shall then be reduced as follows: (A) cash payments shall be reduced before non-cash payments; and (B) payments to be made on a later payment date shall be reduced before payments
to be made on an earlier payment date. 
 c.    This Section 4 shall be interpreted so as to avoid the imposition
of excise taxes on the Employee under Section 4999 of the Code or the disallowance of a deduction to the Company pursuant to Section 280G(a) of the Code with respect to amounts payable under this Agreement. In connection with any Internal
Revenue Service examination, audit or other inquiry, the Company and Employee agree to take action to provide, and to cooperate in providing, evidence to the Internal Revenue Service (and, if applicable, the state revenue department) that the
compensation and benefits provided under this Agreement do not result in the payment of Excess Parachute Payments. 

5.    Payments on Employee’s Death. If Employee dies after a Change in Control and any amounts are
payable under this Agreement, which amounts remain unpaid on the date of the Employee’s death, then the Company will pay those amounts to Employee’s executor, legal representative, administrator or designated beneficiary. 

6.    Unfunded Agreement for ERISA Purposes. This Agreement shall be unfunded for tax purposes
and for purposes of Title I of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended from time to time. 

7.    Section 409A of the Code. 

a.    To the extent applicable, this Agreement shall be interpreted in accordance with Section 409A of the Code and
Department of Treasury regulations and other interpretive guidance issued thereunder (together, “Section 409A”). Notwithstanding any provision of this Agreement to the contrary, if the Company
determines that any compensation or benefits payable under this Agreement may be subject to Section 409A, the Company shall work in good faith with the Employee to adopt such amendments to this Agreement or adopt other policies and procedures
(including amendments, policies and procedures with retroactive effect), or take any other actions, that the Company determines are necessary or appropriate to avoid the imposition of taxes under Section 409A, including without limitation,
actions intended to (i) exempt the compensation and benefits payable under this Agreement from Section 409A, and/or (ii) comply with the requirements of Section 409A; provided, however, that this Section 6
shall not create an obligation on the part of the Company to adopt any such amendment, policy or procedure or take any such other action, nor shall the Company have any liability for failing to do so. 

  
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 b.    Any right to a series of installment payments pursuant to this
Agreement is to be treated as a right to a series of separate payments. To the extent permitted under Section 409A, any separate payment or benefit under this Agreement or otherwise shall not be deemed “nonqualified deferred
compensation” subject to Section 409A to the extent provided in the exceptions in Treasury Regulation Section 1.409A-1(b)(4), Section 1.409A-1(b)(9)
or any other applicable exception or provision of Section 409A. 
 c.    To the extent that any payments provided
to the Employee under this Agreement are deemed to constitute compensation to the Employee to which Treasury Regulation Section 1.409A-3(i)(1)(iv) would apply, such amounts shall be paid reasonably
promptly, but in no event later than two and one-half (2 1⁄2) months following the end of the calendar year during which a
Change in Control occurs. 
 8.    Term of Agreement. Subject to the following sentence, this Agreement
shall terminate and be of no further force or effect if Employee resigns or Employee’s employment is terminated, and Employee shall have no right to the Change in Control Payment if Employee is no longer employed by Company upon the occurrence
of the Change in Control. Notwithstanding the foregoing, in the event that Employee is terminated by the Company without Cause, this Agreement shall terminate and be of no further force or effect twelve (12) months following the effective date
of such termination meaning that the Change in Control Payment shall be payable to Employee if a Change in Control occurs within twelve (12) months of the effective date of such termination without Cause. 

9.    Severability. If any term or other provision of this Agreement is held to be illegal, invalid or
unenforceable by any rule of law or public policy, (a) such term or provision will be fully severable and this Agreement will be construed and enforced as if such illegal, invalid or unenforceable provision were not a part hereof; (b) the
remaining provisions of this Agreement will remain in full force and effect and will not be affected by such illegal, invalid or unenforceable provision or by its severance from this Agreement; and (c) there will be added automatically as a
part of this Agreement a provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible and still be legal, valid and enforceable without decreasing the Employee’s right hereunder. If any provision of this
Agreement is so broad as to be unenforceable, the provision will be interpreted to be only as broad as is enforceable. 

10.    Successors; Binding Agreement. This Agreement shall be binding upon and shall inure to the benefit of
the Company, their respective successors and assigns, and the Company shall require any successors and assigns to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to
perform it if no such succession or assignment had taken place. Neither this Agreement nor any right or interest hereunder shall be assignable or transferable by the Employee, the Employee’s beneficiaries or legal representatives, except by
will or by the laws of descent and distribution, in which case, the Agreement may be enforceable only to the extent provided herein. 

11.    No Guarantee of Employment. Nothing in this Agreement shall be construed as constituting a
commitment, guarantee, agreement or understanding of any kind or nature that the Company shall continue to employ, retain or engage the Employee. This Agreement shall not 

  
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affect in any way the right of the Company to terminate the employment or engagement of the Employee at any time and for any reason whatsoever and to remove the Employee from any position with
the Company. 
 12.    Entire Agreement; Amendments. This Agreement and any exhibits attached hereto
contain the entire agreement of the parties relating to the subject matter hereof, and supersedes any prior agreements, undertakings, commitments and practices relating to the subject matter thereof. No amendment or modification of the terms of
this Agreement shall be valid unless made in writing and signed by Employee and, on behalf of Centennial and HBI. 

13.    Waiver. No failure on the part of any party to exercise or delay in exercising any right
hereunder shall be deemed a waiver thereof or of any other right, nor shall any single or partial exercise preclude any further or other exercise of such right or any other right. 

14.    Choice of Law. This Agreement shall be governed by and construed in accordance with the laws of the
State of Arkansas, without reference to principles of conflict of laws. 
 15.    Choice of Venue. Any
dispute, controversy, or claim arising out of or in respect of this Agreement (or its validity, interpretation, or enforcement, or alleging breach thereof) shall be submitted to, adjudicated by, and subject to the exclusive jurisdiction of the state
courts in Faulkner County, Arkansas, or the federal courts in the Eastern District of Arkansas and both the Company and Employee hereby consent to such venues as the exclusive forums for resolution of the aforementioned disputes, submit to the
personal jurisdiction of said courts to hear such disputes, and waive all objections to such courts hearing and adjudicating such disputes. 

16.    Counterparts and Facsimile Execution. This Agreement may be executed in two or more counterparts each
of which shall be deemed an original, but all of which together shall constitute one and the same instrument. To facilitate the execution of this Agreement, this Agreement may be executed by facsimile signature which shall have the same effect as an
original signature. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, Employee, Centennial, and HBI have executed this Acquisition
Incentive Agreement as of the date first above written. 
  

			
	EMPLOYEE:
	
	  
  

CENTENNIAL BANK

 
			
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 
			
	
	HOME BANCSHARES, INC.

 
			
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

  
 7FIRST Amendment
to 
Loan and security agreement
​
This First Amendment to Loan and Security Agreement (this “Amendment”) is entered into this 7th day of August, 2020, by and between SILICON VALLEY BANK (“Bank”) and OMEROS CORPORATION, a Washington corporation (“Borrower”) whose address is 201 Elliott Avenue West, Seattle, Washington 98119.
Recitals
A.Bank and Borrower have entered into that certain Loan and Security Agreement dated as of August 2, 2019 (as the same may from time to time be amended, modified, supplemented or restated, the “Loan Agreement”).  
B.Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement.
C.Borrower wishes to issue and sell, in one or more offerings, unsecured convertible notes in an aggregate principal amount of up to Three Hundred Fifty Million Dollars ($350,000,000.00).  
D.Borrower has requested that Bank amend the Loan Agreement to make certain revisions to the Loan Agreement as more fully set forth herein.
E.Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below.
Agreement
Now, Therefore, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:
1.Definitions.  Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement.
2.Amendments to Loan Agreement. 
2.1Section 7.7 (Distributions; Investments).  Section 7.7 of the Loan Agreement is amended by deleting the word “and” immediately preceding clause (a)(vii) and inserting the following new clause (viii) at the end thereof:

“(viii) purchase, redeem, retire, or otherwise acquire shares of its capital stock or other equity interests in connection with any forward transactions, options, warrants or other rights to acquire capital stock of Borrower entered into by 

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Borrower substantially concurrently with its issuance of convertible securities on or before September 30, 2020;”
​
2.2Section 13 (Definitions).  Section 13.1 of the Loan Agreement is amended by deleting subsection (h) in the definition of Permitted Indebtedness in its entirety and inserting in lieu thereof the following: 

“(h)unsecured Indebtedness which by its terms is convertible into equity securities of Borrower (the “Permitted Convertible Debt”) provided that (i) the aggregate principal amount of the Permitted Convertible Debt shall not exceed (A) prior to September 1, 2020, Five Hundred Fifty Million Dollars ($550,000,000.00) at any time outstanding, and (B) on September 1, 2020 and at all times thereafter, Three Hundred Fifty Million Dollars ($350,000,000.00) at any time outstanding (ii) no scheduled principal payments may be made with respect to the Permitted Convertible Debt, and (iii) if a default or an event of default (however defined) has occurred and is continuing under the Permitted Convertible Debt (“Permitted Convertible Debt Default”), all outstanding liabilities and obligations of Borrower to Bank shall be immediately be repaid in full;”
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3.Limitation of Amendments.
3.1The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may have in the future under or in connection with any Loan Document.
3.2This Amendment shall be construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect.

4.Representations and Warranties.  To induce Bank to enter into this Amendment, Borrower hereby represents and warrants to Bank as follows:
4.1Immediately after giving effect to this Amendment (a) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and (b) no Event of Default has occurred and is continuing;
4.2Borrower has the power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment;
4.3The organizational documents of Borrower delivered to Bank on the 

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Effective Date remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect;
4.4The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, have been duly authorized; 
4.5The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a Person binding on Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 
4.6The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision thereof, binding on Borrower, except as already has been obtained or made; and
4.7This Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights.

5.Release by Borrower:

A.            FOR GOOD AND VALUABLE CONSIDERATION, Borrower hereby forever relieves, releases, and discharges Bank and its present or former employees, officers, directors, agents, representatives, attorneys (collectively, the “Releasees”), and each of them, from any and all claims, debts, liabilities, demands, obligations, promises, acts, agreements, costs and expenses, actions and causes of action, of every type, kind, nature, description or character whatsoever, whether known or unknown, suspected or unsuspected, absolute or contingent, that Borrower may have against the Releasees which arise out of or in any manner whatsoever connected with or related to facts, circumstances, issues, controversies or claims existing or arising from the beginning of time through and including the date of execution of this Amendment (collectively “Released Claims”).  Without limiting the foregoing, the Released Claims shall include any and all liabilities or claims arising out of or in any manner whatsoever connected with or related to the Loan Documents, the recitals hereto, any instruments, agreements or documents executed in connection with any of the foregoing or the origination, negotiation, administration, servicing and/or enforcement of any of the foregoing.

​

B.            In furtherance of this release, Borrower expressly acknowledges and waives any and all rights under Section 1542 of the California Civil Code, which provides as follows:
“A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.” (Emphasis added.)                             
C.            By entering into this release, Borrower recognizes that no facts or representations are ever absolutely certain and it may hereafter discover facts in addition to or different from those which it presently knows or believes to be true, but that it is the intention of Borrower hereby to fully, finally and forever settle and release all Released Claims; accordingly, if Borrower should subsequently discover that any fact that it relied upon in entering into this release was untrue, or that any understanding of the facts was incorrect, Borrower shall not be entitled to set aside this release by reason thereof, regardless of any claim of mistake of fact or law or any other circumstances whatsoever.  Borrower acknowledges that it is not relying upon and has not relied upon any representation or statement made by Bank with respect to the facts underlying this release or with regard to any of such party’s rights or asserted rights.
D.            This release may be pleaded as a full and complete defense and/or as a cross-complaint or counterclaim against any action, suit, or other proceeding that may be instituted, prosecuted or attempted in breach of this release.  Borrower acknowledges that the release contained herein constitutes a material inducement to Bank to enter into this Amendment, and that Bank would not have done so but for Bank’s expectation that such release is valid and enforceable in all events.
E.            Borrower hereby represents and warrants to Bank, and Bank is relying thereon, as follows:
1           Except as expressly stated in this Amendment, neither Bank nor any agent, employee or representative of Bank has made any statement or representation to Borrower regarding any fact relied upon by Borrower in entering into this Amendment.
2            Borrower has made such investigation of the facts pertaining to this Amendment and all of the matters appertaining thereto, as it deems necessary.
3           The terms of this Amendment are contractual and not a mere recital. 
4           This Amendment has been carefully read by Borrower, the contents hereof are known and understood by Borrower, and this Amendment is signed freely, and without duress, by Borrower. 
5           Borrower represents and warrants that it is the sole and lawful owner of all right, title and interest in and to every Released Claim, and that it has not heretofore assigned or transferred, or purported to assign or transfer, to any person, 

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firm or entity any Released Claim. Borrower shall indemnify Bank, defend and hold it harmless from and against all claims based upon or arising in connection with prior assignments or purported assignments or transfers of any claims or matters released herein.
6.Integration.  This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements.  All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Amendment and the Loan Documents merge into this Amendment and the Loan Documents.
7.Counterparts.  This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument.
8.Effectiveness.  This Amendment shall be deemed effective upon (a) the due execution and delivery to Bank of this Amendment by each party hereto, and (b) Borrower’s payment to Bank of Bank’s legal fees and expenses incurred in connection with the negotiation and preparation of this Amendment.

[Signature page follows.]
​

​

​

In Witness Whereof, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first written above.
​
​
	BANK
	​
	BORROWER

	​
SILICON VALLEY BANK
​
	​
	​
OMEROS CORPORATION

	By:
	/s/ Shawn Parry
	​
	By:
	/s/ Michael A. Jacobsen

	Name:
	Shawn Parry
	​
	Name:
	Michael A. Jacobsen

	Title:
	Managing Director
	​
	Title:
	Chief Accounting Officer

​

​

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