Document:

Amended and Restated Investor Rights Agreement

 Exhibit 4.2 
  
 SKINMEDICA, INC. 
  
 AMENDED AND RESTATED 
 INVESTOR RIGHTS
AGREEMENT 
  
 THIS AMENDED AND RESTATED INVESTOR RIGHTS
AGREEMENT (the “Agreement”) is made as of March 31, 2005, by and among SKINMEDICA, INC., a Delaware corporation (the “Company”), and each of the persons listed on Schedule
A hereto (collectively, the “Investors”). 
  
 RECITALS 
  
 A. The Company and certain of the Investors are parties to that certain Amended and Restated Investor Rights Agreement dated as of July 9, 2004 (the “Prior Rights Agreement”). 
  
 B. In connection with the purchase and sale of Series E Preferred Stock
pursuant to the terms of a Series E Preferred Stock Purchase Agreement of even date herewith by and among the Company and certain of the Investors (the “Purchase Agreement”), the Company and the parties to the Prior Rights Agreement
desire to amend and restate the Prior Rights Agreement in its entirety to reflect the sale of the Series E Preferred Stock. 
  
 THE PARTIES AGREE AS FOLLOWS: 
  
 SECTION 1. CERTAIN DEFINITIONS. 
  
 As used in this Agreement, the following terms shall have the following
respective meanings: 
  
 (a) “Affiliate” shall
mean with respect to any Person, any Person which directly or indirectly through one or more intermediaries, controls, is controlled by or is under common control with such Person. 
  
 (b) “Board” shall mean the Board of Directors of the Company. 
  
 (c) “Commission” shall mean the Securities and Exchange
Commission or any other federal agency at the time administering the Securities Act. 
  
 (d) “Common Stock” shall mean the Common Stock of the Company, par value of $0.001 per share. 
  
 (e) “Convertible Securities” shall mean the Company’s Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock,
Series D Preferred Stock and Series E Preferred Stock. 
  
 (f)
“Form S-3” shall mean Form S-3 issued by the Commission or any substantially similar form then in effect. 
  
 (g) “Holder” shall mean any Person entering into this Agreement and any holder of outstanding Registrable Securities or an assignee or
transferee of Registration rights as permitted by Section 3.8. 

 (h) “Initiating Holders” shall mean Holders who in the aggregate hold at least fifty
percent (50%) of the Registrable Securities. 
  
 (i)
“Initiating Series D Holders” shall mean Holders who in the aggregate hold at least fifty percent (50%) of the then outstanding Registrable Securities issued or issuable upon conversion of the Series D Preferred Stock. 

 
 (j) “Initiating Series E Holders” shall mean Holders who
in the aggregate hold at least fifty percent (50%) of the then outstanding Registrable Securities issued or issuable upon conversion of the Series E Preferred Stock. 
  
 (k) “Material Adverse Event” shall mean an event that either (a) is materially adverse as to the business,
properties, prospects or financial condition of the Company or (b) is reasonably expected to materially adversely affect the business, properties, prospects or financial condition of the Company. 
  
 (l) “Person” shall mean an individual, a corporation, a
partnership, a trust or unincorporated organization or any other entity or organization. 
  
 (m) “Qualified Public Offering” shall mean a firmly underwritten public offering of the Company’s Common Stock Registered under the Securities Act and involving gross proceeds to the Company of
at least Forty Million Dollars ($40,000,000) (prior to deduction for underwriters’ discounts and other expenses relating to such public offering, including, without limitation, fees of the Company’s counsel). 
  
 (n) The terms “Register,” “Registered” and
“Registration” refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act (“Registration Statement”), and the declaration or ordering of the effectiveness of
such Registration Statement. 
  
 (o) “Registrable
Securities” shall mean (i) all Common Stock not previously sold to the public issued or issuable upon conversion of any of the Convertible Securities purchased by or issued to the Investors, (ii) all shares of Common Stock owned by the
Investors, (iii) any shares of Common Stock issued or issuable upon conversion of any Convertible Securities granted registration rights pursuant to Section 3.7 of this Agreement and (iv) any Common Stock of the Company issued as (or issuable upon
the conversion or exercise of any warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in exchange for, or in replacement of, such Common Stock. 
  
 (p) “Registration Expenses” shall mean all expenses incurred
by the Company in complying with Sections 3.1 or 3.2 of this Agreement, including, without limitation, all federal and state registration, qualification and filing fees, printing expenses, fees and disbursements of counsel for the Company and fees
and disbursements of not more than one (1) special counsel for the Holders (if different from the Company) not to exceed twenty-five thousand dollars ($25,000), blue sky fees and expenses, and the expense of any special audits incident to or
required by any such Registration. 
  

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 (q) “Securities Act” shall mean the Securities Act of 1933, as amended, or any similar
federal statute, and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time. 
  
 (r) “Selling Expenses” shall mean all underwriting discounts and selling commissions applicable to the sale of Registrable Securities
pursuant to this Agreement. 
  
 (s) “Special Registration
Statement” shall mean (i) a registration statement relating to any employee benefit plan, (ii) with respect to any corporate reorganization or transaction under Rule 145 of the Securities Act, including any registration statements related
to the resale of securities issued in such a transaction or (iii) a registration related to stock issued upon conversion of debt securities. 
  
 SECTION 2. COVENANTS OF THE COMPANY 
  
 2.1 Financial Statements and Reports to Stockholders; Budget. 
  
 The Company shall deliver to each Investor: 
  
 (a) 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, an audited consolidated balance sheet of the Company as of the end of such year and audited consolidated statements of income, stockholders’ equity and cash flows for such year, which year-end financial reports and all
notes thereto shall be prepared in accordance with U.S. generally accepted accounting principles, and be in reasonable detail and shall be accompanied by the opinion of independent public accountants of recognized standing selected by the Company.

  
 (b) For so long as an Investor or subsequent holder of
Convertible Securities holds or is deemed to hold at least two hundred fifty thousand (250,000) shares of Registrable Securities (equitably adjusted for all stock splits, subdivisions, stock dividends, combinations and the like), as soon as
practicable after the end of each fiscal quarter of the Company, and in any event within forty-five (45) days thereafter, unaudited financial statements of the Company on a quarterly basis prepared in accordance with U.S. generally accepted
accounting principles and fairly reflecting the fiscal affairs of the Company to the date thereof (with the exception that no notes need be attached to such statements and year-end audit adjustments may not have been made). 
  
 (c) For so long as an Investor or subsequent holder of Convertible Securities
holds or is deemed to hold at least two hundred fifty thousand (250,000) shares of Registrable Securities (equitably adjusted for all stock splits, subdivisions, stock dividends, combinations and the like), as soon as practicable after the end of
each month, and in any event within thirty (30) days thereafter, consolidated balance sheets of the Company and its subsidiaries, if any, as of the end of each such month and consolidated statements of income and cash flow for such month and for the
current fiscal year to date, in each case prepared in accordance with U.S. generally accepted accounting principles and fairly reflecting the fiscal affairs of the Company to the date thereof (with the exception that (i) no notes need be attached to
such statements and (ii) year-end audit adjustments may not have been made). 
  
 (d) For so long as an Investor or subsequent holder of Convertible Securities 
  

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holds or is deemed to hold at least two hundred fifty thousand (250,000) shares of Registrable Securities (equitably adjusted for all stock splits,
subdivisions, stock dividends, combinations and the like) within sixty (60) days prior to the end of each fiscal year, an operating budget and plan respecting the next fiscal year; which shall include quarterly management projections for such fiscal
year. 
  
 (e) Contemporaneously with delivery to holders of Common
Stock, a copy of each report of the Company delivered to holders of Common Stock. 
  
 2.2 Inspection. 
  
 For so
long as an Investor or subsequent holder of Convertible Securities holds or is deemed to hold at least two hundred fifty thousand (250,000) shares of Registrable Securities (equitably adjusted for all stock splits, subdivisions, stock dividends,
combinations and the like), the Company shall permit each Investor, at such Investor’s expense, to visit and inspect the Company’s properties, to examine its books of account and records and to discuss the Company’s affairs, finances
and accounts with its officers, all at such reasonable times as may be requested by each such Investor; provided, however, that the Company shall not be obligated pursuant to this Section 2.2 with respect to a competitor of the Company or with
respect to any information which it reasonably considers to be a trade secret or confidential information. The rights of an Investor under this Section 2.2 may not be assigned as part of such Investor’s sale of any of the Registrable Securities
or Convertible Securities except with the consent of the Company, which consent shall not be unreasonably withheld; provided that the consent of the Company shall not be required with respect to an assignment of such rights to one or more Affiliates
of an Investor. 
  
 2.3 Confidentiality. 
  
 Each Investor agrees and will cause any representative of the Investor to
hold in confidence and trust and not use or disclose any confidential, non-public information provided to or learned by it in connection with its rights under this Section 2, except that such Investor may disclose such information to any general
partner, limited partner, member, subsidiary or parent (and their respective representatives and advisors) of such Investor for the purpose of evaluating its investment in the Company as long as such Investor uses its commercially reasonable efforts
to ensure that such general partner, limited partner, member, subsidiary or parent holds such information in confidence and trust and will not use or disclose any information provided to or learned by it except as required by law. Notwithstanding
the foregoing, however, the obligation of each Investor to hold information confidential as provided herein or any other document or agreement relating thereto shall not prohibit such Investor from disclosing such information: (i) to its board of
directors, investment advisers, attorneys, accountants, consultants and other professionals to the extent necessary to obtain their services in connection with its investment in the Company, provided that such persons agree to hold such information
confidential as provided herein and in such provisions (as modified by this paragraph); (ii) to any prospective purchaser of any shares of the Company owned by such Investor as long as such prospective purchaser agrees in writing to be bound by the
confidentiality provisions as provided herein or in such provisions (as modified by this paragraph); (iii) to such Investor’s investment advisor or any investment companies managed by such Investors’s investment advisor, provided that such
persons agree to hold such information confidential as provided herein or in such provisions (as modified by this 
  

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paragraph); or (iv) as required by applicable law or regulation, regulatory body, stock exchange, court or administrative order, or any listing or trading
agreement concerning such Investor or the Company. Furthermore, nothing in this Section 2.3 shall restrict any Investor’s ability to disclose the existence or nature of its relationship with the Company, the nature or amount of its investment
in securities of the Company or to provide its affiliates with quarterly, annual or other reports and such other information about the Company prepared by such Investor in the ordinary course of its business, provided that said Investor takes
commercially reasonable measures to ensure that any such affiliates protect the confidential nature of such confidential information. 
  
 2.4 Proprietary Information and Inventions Agreements. 
  
 The Company agrees to require (i) each employee and officer of the Company to execute a non-competition, proprietary information and inventions agreement
(in a form reasonably acceptable to the Company and the Investors), (ii) each vice president of the Company to enter into an employment agreement and (iii) each consultant and advisor of the Company to execute an agreement that provides for
confidential treatment of the Company’s proprietary information as a condition of employment or continued employment or engagement, as the case may be, unless otherwise approved by the board of directors of the Company. 
  
 2.5 Vesting. 
  
 Unless otherwise approved by the Board, the Company agrees that all Common
Stock held by or issued to employees, consultants, advisors, directors and officers (i) shall be subject to a repurchase option which provides that upon termination of such individual’s employment or consulting relationship or directorship with
the Company, with or without cause, the Company has the option to repurchase at cost any unvested shares held by the individual, which repurchase option shall lapse as follows: (a) twenty-five percent (25%) of such shares 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 shares shall vest monthly over the remaining three (3) years, and (ii) shall
be issued subject to the condition that the holder thereof make timely elections under Section 83(b) of the Internal Revenue Code. Unless otherwise approved by the Board, the Company also agrees that all stock options issued to employees,
consultants, advisors, directors and officers in the future shall vest no more quickly than as follows: (a) twenty-five percent (25%) of such shares 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 shares monthly over the remaining three (3) years; and shall provide that any unvested options shall be forfeited upon termination of the holder, with or without
cause. 
  

	2.6	Restriction on Sales by Employees. 

  
 The Company and Holders agree that, until the time of a Qualified Public Offering, first, the Company, and second, the Investors will have a right of
first refusal on all transfers of Common Stock by employees of the Company who received options to purchase such Common Stock after February 27, 2004, subject to transfers to family members or trusts for the benefit of family members and other
limited exceptions as determined by the Board. The Company agrees to include appropriate language to this effect in its Bylaws or in all employment agreements, stock option and/or restricted stock grants, or other similar agreements with employees
after February 27, 2004. 
  

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 2.7 Qualified Small Business. 
  
 The Company covenants that so long as any of the shares of Preferred Stock, or the Common Stock into which such shares are
converted, are held by a Holder in whose hands such shares of Common Stock are eligible to qualify as “qualified small business stock” as defined in Section 1202(c) of the of the Internal Revenue Code of 1986, as amended (the
“Code”) (“Qualified Small Business Stock”), it will (i) comply with any applicable filing or reporting requirements imposed by the Code on issuers of Qualified Small Business Stock and (ii) execute and deliver to
each Holder, from time to time, such forms, documents, schedules and other instruments as may be reasonably requested thereby to cause the Preferred Stock, or the Common Stock into which such shares are converted, to qualify as Qualified Small
Business Stock. 
  
 2.8 Board Meeting; Compensation of
Directors. 
  
 The Company hereby covenants that so long as
the holders of the Preferred Stock are entitled to appoint any members of the Board of Directors pursuant to the Company’s Amended and Restated Certificate of Incorporation, the Board shall not meet less frequently than quarterly. All
non-employee directors will be compensated by the Company identically, and out-of-pocket and travel expenses of the directors incurred in attending Board meetings (or meetings of committees thereof) or in connection with the performance of their
duties as directors shall be paid or reimbursed promptly by the Company. 
  
 2.9 Termination of Covenants. 
  
 The covenants of the Company set forth in this Section 2 shall be terminated and be of no further force or effect upon the earlier of (a) the effective date of the Company’s Registration Statement filed in connection with the
Company’s first Qualified Public Offering and (b) the date when no shares of Registrable Securities or Convertible Securities shall be outstanding. 
  
 SECTION 3. REGISTRATION RIGHTS 
  
 3.1 Demand Registration. 
  
 3.1.1 Request for Registration on Form other than Form S-3. 
  
 Subject to the terms of this Agreement, in the event that the Company shall receive from the Initiating Holders, the
Initiating Series D Holders or the Initiating Series E Holders at any time after six (6) months after the effective date of the Company’s initial Registered public offering of shares of Common Stock under a Registration Statement, a written
request that the Company effect any Registration (including a shelf Registration pursuant to Rule 415 of the Securities Act) with respect to all or a part of the Registrable Securities on a form other than Form S-3 for an offering of at least twenty
percent (20%) of the then outstanding Registrable Securities (or twenty percent (20%) of the then outstanding Registrable Securities issued or issuable upon conversion of the Series D Preferred Stock in the case of a written request by the
Initiating Series D Holders or twenty percent (20%) of the then outstanding 
  

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 Registrable Securities issued or issuable upon conversion of the Series E Preferred Stock in the case of a written
request by the Initiating Series E Holders), the Company shall (i) promptly give written notice of the proposed Registration to all other Holders and shall (ii) as soon as practicable, use its reasonable best efforts to effect Registration of the
Registrable Securities specified in such request, together with any Registrable Securities of any Holder joining in such request as are specified in a written request given within twenty (20) days after written notice from the Company. 

 
 The Company shall not be obligated to take any action to effect any such
Registration pursuant to this Section 3.1.1: 
  
 (i) after the
Company has effected two (2) such Registrations pursuant to this Section 3.1.1 and such Registrations have been declared effective; provided, however, that the Initiating Series D Holders and the Initiating Series E Holders shall each be entitled to
request two (2) such Registrations pursuant to this Section 3.1.1 in addition to any such Registrations requested by the Initiating Holders; 
  
 (ii) during the period starting with the date of filing of, and ending on the date one hundred eighty (180) days following the effective date of the
registration statement pertaining to any public offering of the Company’s securities, 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 as soon as practicable after such one hundred eighty (180) day period; 
  
 (iii) if within thirty (30) days of receipt of a written request from the Initiating Holders, the Initiating Series D Holders or the Initiating Series E
Holders pursuant to Section 3.1.1, 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 of
receipt of such written request; or 
  
 (iv) if the Initiating
Holders, the Initiating Series D Holders or the Initiating Series E 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 3.1.3 below. 

 
 3.1.2 Right of Deferral of Registration on Form other Than Form
S-3. 
  
 If the Company shall furnish to all such Holders
who joined in the request pursuant to Section 3.1.1 a certificate signed by the President of the Company stating that, in the good faith judgment of the Board (which conclusion shall be evidenced by a Board resolution), it would be seriously
detrimental to the Company for any Registration to be effected as requested under Section 3.1.1, the Company shall have the right to defer the filing of a Registration Statement with respect to such offering for a period of not more than ninety (90)
days from delivery of the request of the Initiating Holders, the Initiating Series D Holders or the Initiating Series E Holders; provided, however, that the Company may not utilize this right more than once in any twelve (12)-month period. In
connection with the foregoing right, if exercised, the Company shall use commercially reasonable efforts to not disclose any information to any holder of Registrable Securities included in a registration statement that is subject to such
postponement or withdrawal which could reasonably likely be deemed to be material non-public information with respect to the Company. 
  

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 3.1.3 Request for Registration on Form S-3. 
  
 Subject to the terms of this Agreement, in the event that the Company
receives from one or more Holders of at least twenty-five percent (25%) of Registrable Securities, a written request that the Company effect any Registration on Form S-3 (or any successor form to Form S-3 regardless of its designation) (including a
shelf Registration pursuant to Rule 415 of the Securities Act) at a time when the Company is eligible to Register securities on Form S-3 (or any successor form to Form S-3 regardless of its designation) for an offering of Registrable Securities
which such Holders in their good faith discretion determine would have an anticipated offering price of at least One Million Dollars ($1,000,000), the Company will promptly give written notice of the proposed Registration to all the Holders and will
as soon as practicable use its best efforts to effect Registration of the Registrable Securities specified in such request, together with all or such portion of the Registrable Securities of any Holder joining in such request as are specified in a
written request delivered to the Company within thirty (30) days after written notice from the Company of the proposed Registration. There shall be no limit to the number of occasions on which the Company shall be obligated to effect Registration
under this Section 3.1.3, but the Company shall not be required to effect more than two (2) such Registrations in any twelve (12)-month period. Notwithstanding the foregoing, the Company shall not be obligated to effect any Registration pursuant to
this Section 3.1.3: 
  
 (i) if Form S-3 (or a successor form to
Form S-3) is not available for such offering by the Holders; 
  
 (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); 
  
 (iii) if
within thirty (30) days of receipt of a written request from any Holder or Holders pursuant to this Section 3.1.3, the Company gives notice to such Holder or Holders of the Company’s intention to make a public offering within ninety (90) days
of receipt of such written request, other than pursuant to a Special Registration Statement; or 
  
 (iv) if the Company shall furnish to the Holders a certificate signed by the President of the Company stating that, in the good faith judgment of the
Board, it would be seriously detrimental to the Company for any Registration to be effected as requested under Section 3.1.3, the Company shall have the right to defer the filing of a Registration Statement with respect to such offering for a period
of not more than ninety (90) days from delivery of the request of the Initiating Holders, the Initiating Series D Holders or the Initiating Series E Holders; provided, however, that the Company may not utilize this right more than once in any twelve
(12)-month period. In connection with the foregoing right, if exercised, the Company shall use commercially reasonable efforts to not disclose any information to any holder of Registrable Securities included in a registration statement that is
subject to such postponement or withdrawal which could reasonably likely be deemed to be material non-public information with respect to the Company. 
  

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 3.1.4 Registration of Other Securities in Demand Registration. 
  
 Any Registration Statement filed pursuant to the request of the Initiating
Holders, the Initiating Series D Holders or the Initiating Series E Holders under this Section 3 may, subject to the provisions of Section 3.1.5, include securities of the Company other than Registrable Securities. 
  
 3.1.5 Underwriting in Demand Registration. 
  
 a. Notice of Underwriting. 
  
 If the Initiating Holders, the Initiating Series D Holders or the
Initiating Series E 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 Section 3.1.1, and the Company shall
include such information in the written notice referred to in Section 3.1.1 or 3.1.3. The right of any Holder to Registration pursuant to Section 3 shall be conditioned upon such Holder’s agreement to participate in such underwriting and the
inclusion of such Holder’s Registrable Securities in the underwriting. 
  
 b. Inclusion of other Holders in Demand Registration. 
  
 If the Company, officers or directors of the Company holding Common Stock other than Registrable Securities or holders of securities issued by the Company other than Registrable Securities, request inclusion in such
Registration, the Initiating Holders, the Initiating Series D Holders or the Initiating Series E Holders in their sole discretion and after consultation with other participating Holders, to the extent they deem advisable and consistent with the
goals of such Registration, shall, on behalf of all Holders, offer to any or all of the Company, such officers or directors and such holders of securities other than Registrable Securities that such securities other than Registrable Securities be
included in the underwriting and may condition such offer on the acceptance by such persons of the terms of this Section 3.1. 
  
 c. Selection of Underwriter in Demand Registration. 
  
 The Company shall (together with all Holders proposing to distribute their securities through such underwriting) enter into an underwriting agreement
with the representative (“Underwriter’s Representative”) of the underwriter or underwriters selected for such underwriting by the Holders of a majority of the Registrable Securities being Registered by the Initiating Holders,
the Initiating Series D Holders or the Initiating Series E Holders and agreed to by the Company. In no event shall any Holder be required to provide any representations or warranties regarding the Company and/or its business and/or any Person other
than such Holder and its Affiliates, which shall not include the Company or any other Holder that may be deemed to be an Affiliate solely by virtue of such Holder’s interest in the Company. 
  
 d. Marketing Limitation in Demand Registration. 
  
 In the event the Underwriter’s Representative advises the Initiating
Holders, the Initiating Series D Holders or the Series E Holders in writing that market factors (including, without limitation, the aggregate number of shares of Common Stock requested to be Registered, the general condition of the market, and the
status of the persons proposing to sell 
  

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 securities pursuant to the Registration) require a limitation of the number of shares to be underwritten, then (i) first
the securities other than Registrable Securities and (ii) next the securities requested to be registered by the Company, shall be excluded from such Registration to the extent required by such limitation. If a limitation of the number of shares is
still required, the Initiating Holders, the Initiating Series D Holders or the Series E Holders shall so advise all Holders and the number of shares of Registrable Securities that may be included in the Registration and underwriting shall be
allocated among all Holders in proportion, as nearly as practicable, to the respective amounts of Registrable Securities entitled to inclusion in such Registration held by such Holders at the time of filing the Registration Statement. No Registrable
Securities or other securities excluded from the underwriting by reason of this Section 3.1.5(d) shall be included in such Registration Statement. To facilitate the allocation of shares in accordance with the above provisions, the Company or the
Underwriter’s Representative may round the number of shares allocated to any Holder to the nearest one hundred (100) shares. To the extent more than twenty-five percent (25%) of the Registrable Securities so requested to be registered by the
Holders participating in the registration in question are excluded from an offering under this Section 3.1.5(d) (a “Reload Event”), then the Initiating Holders, the Initiating Series D Holders or the Initiating Series E Holders, as
the case may be, shall have the right to one additional demand registration under Section 3.1 upon the occurrence of each Reload Event. 
  
 e. Right of Withdrawal in Demand Registration. 
  
 If any Holder of Registrable Securities, or a holder of other securities entitled (upon request) to be included in such Registration, disapproves of the
terms of the underwriting, such person may elect to withdraw therefrom by written notice to the Company, the underwriter and the Initiating Holders, the Initiating Series D Holders or the Initiating Series E Holders delivered at least seven (7)
business days prior to the effective date of the Registration Statement. The securities so withdrawn shall also be withdrawn from the Registration Statement. 
  
 3.1.6 Blue Sky in Demand Registration. 
  
 In the event of any Registration pursuant to Section 3.1, the Company will exercise its reasonable best efforts to Register and qualify the securities
covered by the Registration Statement under such other securities or Blue Sky laws of such jurisdictions (not exceeding twenty (20) at the expense of the Company) as shall be reasonably appropriate for the distribution of such securities; provided,
however, that (i) the Company shall not be required to qualify to do business or to file a general consent to service of process in any such states or jurisdictions, and (ii) notwithstanding anything in this Agreement to the contrary, in the event
any jurisdiction in which the securities shall be qualified imposes a non-waivable requirement that expenses incurred in connection with the qualification of the securities be borne by selling stockholders, such expenses shall be payable pro rata by
selling stockholders. 

	

 3.2 Piggyback Registration. 
  
 3.2.1 Notice of Piggyback Registration and Inclusion of Registrable
Securities. 
  
 Subject to the terms of this Agreement, in
the event the Company decides 
  

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 to Register any of its Common Stock (either for its own account or the account of a security holder or holders exercising
their respective demand Registration rights) on a form that would permit or otherwise be suitable for a Registration involving solely Registrable Securities, the Company will: (i) promptly give each Holder written notice thereof (which shall include
a list of the jurisdictions in which the Company intends to attempt to qualify such securities under the applicable Blue Sky or other state securities laws) and (ii) include in such Registration (and any related qualification under Blue Sky laws or
other compliance), and in any underwriting involved therein, all the Registrable Securities specified in a written request delivered to the Company by any Holder within fifteen (15) days after delivery of such written notice from the Company.

  
 3.2.2 Underwriting in Piggyback Registration.

  
 a. Notice of Underwriting in Piggyback Registration.

  
 If the Registration of which the Company gives notice
pursuant to Section 3.2.1 is for a Registered public offering involving an underwriting, the Company shall so advise the Holders as a part of the written notice given pursuant to Section 3.2.1. In such event the right of any Holder to Registration
shall be conditioned upon such underwriting and the inclusion of such Holder’s Registrable Securities in such underwriting to the extent provided in this Section 3. All Holders proposing to distribute their securities through such underwriting
shall (together with the Company and the other holders distributing their securities through such underwriting) enter into an underwriting agreement with the Underwriter’s Representative for such offering. In no event shall any Holder be
required to provide any representations or warranties regarding the Company and/or its business and/or any Person other than such Holder and its Affiliates, which shall not include the Company or any other Holder that may be deemed to be an
Affiliate solely by virtue of such Holder’s interest in the Company. The Holders shall have no right to participate in the selection of the underwriters for an offering pursuant to this Section 3.2. 
  
 b. Marketing Limitation in Piggyback Registration. 
  
 Notwithstanding any other provision of this Section 3, in the event the
Underwriter’s Representative advises (i) the Company in the case of the Company’s initial Registered public offering or (ii) the Holders seeking Registration of Registrable Securities pursuant to Section 3.2 in the case of any subsequent
Registered public offering, in writing that market factors (including, without limitation, the aggregate number of shares of Common Stock requested to be Registered, the general condition of the market, and the status of the persons proposing to
sell securities pursuant to the Registration) require a limitation of the number of shares to be underwritten, the Underwriter’s Representative (subject to the allocation priority set forth in Section 3.2.2(c)) may in its sole discretion:

  
 i. in the case of the Company’s initial Registered
public offering, exclude some or all Registrable Securities from such Registration and underwriting; and 
  
 ii. in the case of any subsequent Registered public offering, limit the number of shares of Registrable Securities to be included in such Registration
and underwriting to not less than thirty percent (30%) of the securities included in such Registration (based on aggregate market values). 
  

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 c. Allocation of Shares in Piggyback Registration. 
  
 In the event that the Underwriter’s Representative limits the number
of shares to be included in a Registration pursuant to Section 3.2.2(b), the number of shares to be included in such Registration shall be allocated (subject to Section 3.2.2(b)) in the following manner: The number of shares, if any, that may be
included in the Registration and underwriting by selling stockholders shall first be allocated among all the requesting Holders pro rata according to the respective amounts of Registrable Securities entitled to be included in such offering by such
requesting Holders and then among all other holders of securities other than Registrable Securities requesting and legally entitled to include shares in such Registration, in proportion, as nearly as practicable, to the respective amounts of
securities (including Registrable Securities) which such Holders and such other holders would otherwise be entitled to include in such Registration. No Registrable Securities or other securities excluded from the underwriting by reason of this
Section 3.2.2(c) shall be included in the Registration Statement. To facilitate the allocation of shares in accordance with the above provisions, the Company or the Underwriter’s Representative may round the number of shares allocated to any
Holder to the nearest one hundred (100) shares. 
  
 d.
Withdrawal in Piggyback Registration. 
  
 If any Holder
disapproves of the terms of any such underwriting, he may elect to withdraw therefrom by written notice to the Company and the underwriter delivered at least seven (7) business days prior to the effective date of the Registration Statement. Any
Registrable Securities or other securities excluded or withdrawn from such underwriting shall be withdrawn from such Registration. 
  
 3.2.3 Blue Sky in Piggyback Registration. 
  
 In the event of any Registration of Registrable Securities pursuant to Section 3.2, the Company will exercise its best efforts to Register and qualify
the securities covered by the Registration Statement under such other securities or Blue Sky laws of such jurisdictions (not exceeding twenty (20) unless otherwise agreed to by the Company) as shall be reasonably appropriate for the distribution of
such securities; provided, however, that (i) the Company shall not be required to qualify to do business or to file a general consent to service of process in any such states or jurisdictions, and (ii) notwithstanding anything in this Agreement to
the contrary, in the event any jurisdiction in which the securities shall be qualified imposes a non-waivable requirement that expenses incurred in connection with the qualification of the securities be borne by selling stockholders, such expenses
shall be payable pro rata by selling stockholders. 
  
 3.3
Expenses of Registration. 
  
 All Registration Expenses
incurred in connection with all Registrations pursuant to Section 3.1.1, all Registrations pursuant to Section 3.1.3 and all Registrations pursuant to Section 3.2 shall be borne by the Company. Notwithstanding the above, the Company shall not be
required to pay for any expenses of any Registration proceeding begun pursuant to Section 3.1 
  

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 if the Registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable
Securities to be Registered (which Holders shall bear such expenses), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to demand Registration pursuant to Section 3.1; provided further, however, that if at
the time of such withdrawal, the Holders have learned of a Material Adverse Event either (i) not known to the Holders at the time of their request or (ii) not made known to the Holders within fifteen (15) days after their request, then the Holders
shall not be required to pay any of such expenses and shall retain their rights pursuant to Section 3.1. All Selling Expenses shall be borne by the respective holders of the securities Registered pro rata on the basis of the number of shares
registered. 
  
 3.4 Registration Procedures. In the case of
each registration, qualification or compliance effected by the Company pursuant to this Section 3, the Company will: 
  
 (i) Keep each Holder whose Registrable Securities are included in any Registration pursuant to this Agreement advised as to the initiation and completion
of such Registration. At its expense the Company will: (a) use its best efforts to keep such Registration effective for a period of one hundred twenty (120) days or until the Holder or Holders have completed the distribution described in the
Registration Statement relating thereto, whichever first occurs; and (b) furnish such number of prospectuses (including preliminary prospectuses) and other documents as a Holder from time to time may reasonably request. With respect to clause (a) of
the preceding sentence, the Company may at any time upon written notice to the participating Holders (which notice shall include a Board resolution authorizing the issuance of such notice) and for a period not to exceed sixty (60) days thereafter
(the “Suspension Period”) delay the filing or effectiveness of any registration statement or suspend the use or effectiveness of any registration statement (and the Holders hereby agree not to offer or sell any Registrable
Securities pursuant to such registration statement during the Suspension Period) if the Company reasonably believes that the Company may, in the absence of such delay or suspension hereunder, be required under state or federal securities laws to
disclose any corporate development the disclosure of which could reasonably be expected to have an adverse effect upon the Company, its stockholders, a potentially significant transaction or event involving the Company, or any negotiations,
discussions, or proposals directly relating thereto. In the event that the Company shall exercise its rights hereunder, the applicable time period during which the registration statement is to remain effective shall be extended by a period of time
equal to the duration of the Suspension Period. The Company may extend the Suspension Period for an additional consecutive sixty (60) days with the consent of the holders of a majority of the Registrable Securities proposed to be sold by the Holders
in the applicable Registration, which consent shall not be unreasonably withheld. If so directed by the Company, the Holders shall use their best efforts to deliver to the Company (at the Company’s expense) all copies, other than permanent file
copies then in such Holders’ possession, of the prospectus relating to such Registrable Securities current at the time of receipt of such notice. 
  
 (ii) Prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection with such
registration statements 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 a period of up to one hundred twenty (120) days; 

 
 (iii) Promptly notify each Holder of Registrable Securities covered by the

  

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 registration statement at any time when the Company becomes aware of the happening of any event as a result of which the
registration statement or the prospectus included in such registration statement or any supplement to the prospectus (as then in effect) contains any untrue statement of a material fact or omits to state a material fact necessary to make the
statements therein (in the case of the prospectus, in light of the circumstances under which they were made) not misleading or, if for any other reason it shall be necessary during such time period to amend or supplement the registration statement
or the prospectus in order to comply with the Securities Act, whereupon, in either case, each Holder shall immediately cease to use such registration statement or prospectus for any purpose and, as promptly as practicable thereafter, the Company
shall prepare and file with the Commission, and furnish without charge to the appropriate Holders and managing underwriters, if any, a supplement or amendment to such registration statement or prospectus which will correct such statement or omission
or effect such compliance and such copies thereof as the Holders and any underwriters may reasonably request; 
  
 (v) Use its best 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 except as may be required by law; 
  
 (vi) Cause all such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed; 
  

(vii) Provide a transfer agent and registrar for all Registrable Securities and a CUSIP number for all such Registrable Securities, in each case not
later than the effective date of such registration; 
  
 (viii) 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 of such offering. Each Holder participating in such underwriting shall
also enter into and perform its obligations under such an agreement; and 
  
 (ix) Use its best efforts to furnish, at the request of any Holder requesting registration of Registrable Securities pursuant to this Section 3, on the date that such Registrable Securities are delivered to the
underwriters for sale in connection with a registration pursuant to this Section 3, if such securities are being sold through underwriters, or, if such securities are not being sold through underwriters, on the date that the registration statement
with respect to such securities becomes effective, (i) an opinion, dated 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 to the Holders requesting registration of Registrable Securities and (ii) a letter dated such date, from the registered independent certified public accountants of the Company, in form and
substance as is customarily given by registered independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities
(to the extent the then applicable standards of professional conduct permit said letter to be addressed to the Holders). 
  

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 3.5 Information Furnished by Holder. 
  
 It shall be a condition precedent of the Company’s obligations under
this Agreement that each Holder of Registrable Securities included in any Registration furnish to the Company such information regarding such Holder and the distribution proposed by such Holder or Holders as the Company may reasonably request.

  
 3.6 Indemnification. 
  
 3.6.1 Company’s Indemnification of Holders. 
  
 To the extent permitted by law, the Company will indemnify each Holder,
each of its officers, directors and constituent partners, legal counsel for the Holders, and each person controlling such Holder, with respect to which Registration, qualification or compliance of Registrable Securities has been effected pursuant to
this Agreement, and each underwriter, if any, and each person who controls any underwriter, against all claims, losses, damages or liabilities (or actions in respect thereof) to the extent such claims, losses, damages or liabilities arise out of or
are based upon any untrue statement (or alleged untrue statement) of a material fact contained in any prospectus or other document (including any related Registration Statement) incident to any such Registration, qualification or compliance, or are
based on any 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 any violation by the Company of any rule or regulation promulgated under the
Securities Act or Exchange Act or state or federal law applicable to the Company and relating to action or inaction required of the Company in connection with any such Registration, qualification or compliance; and the Company will reimburse each
such Holder, each such underwriter and each person who controls any such Holder or underwriter for any legal and any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability or action;
provided, however, that the indemnity contained in this Section 3.6.1 shall not apply to amounts paid in settlement of any such claim, loss, damage, liability or action if settlement is effected without the consent of the Company (which consent
shall not unreasonably be withheld); and provided, further, that the Company will not be liable in any such case to the extent that any such claim, loss, damage, liability or expense arises out of or is based upon any untrue statement or omission
based upon written information furnished to the Company by such Holder, underwriter, or controlling person and stated to be for use in connection with the offering of securities of the Company. 
  
 3.6.2 Holder’s Indemnification of Company. 
  
 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, qualification or compliance is being effected pursuant to this Agreement, indemnify the Company, each of its directors and officers that has signed the registration
statement, each underwriter, if any, of the Company’s securities covered by such a Registration Statement, each person who controls the Company or such underwriter within the meaning of the Securities Act, and each other such Holder, each of
its officers, directors and constituent partners and each person controlling such other Holder, against all claims, losses, damages and liabilities (or actions in respect thereof) arising out of or based upon any untrue statement (or alleged untrue
statement) of a material fact contained in any such Registration Statement, prospectus, offering circular or other document, or any omission (or alleged omission) to state therein a material fact required to be stated therein or 
  

 - 15 - 

 necessary to make the statements therein not misleading, or any violation by such Holder of any rule or regulation
promulgated under the Securities Act or Exchange Act or state or federal law applicable to such Holder and relating to action or inaction required of such Holder in connection with any such Registration, qualification or compliance; and will
reimburse the Company, such Holders, such directors, officers, partners, persons, underwriters or control persons for any legal and any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage,
liability or action, in each case to the extent, but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such Registration Statement, prospectus, offering circular or other
document in reliance upon and in conformity with written information furnished to the Company by such Holder and stated to be specifically for use in connection with the offering of securities of the Company, provided, however, that each
Holder’s liability under this Section 3.6.2 shall be several, and not joint with other Holders, and shall not exceed such Holder’s net proceeds from the offering of securities made in connection with such Registration. 
  
 3.6.3 Indemnification Procedure. 
  
 Promptly after receipt by an indemnified party under this Section 3.6 of
notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against an indemnifying party under this Section 3.6, notify the indemnifying party in writing of the commencement thereof and
generally summarize such action. The indemnifying party shall have the right to participate in and to assume the defense of such claim; provided, however, that the indemnifying party shall be entitled to select counsel for the defense of such claim
with the approval of any parties entitled to indemnification, which approval shall not be unreasonably withheld; provided further, however, that if either party reasonably determines that there may be a conflict between the position of the
indemnifying party and the indemnified party in conducting the defense of such action, suit or proceeding by reason of recognized claims for indemnity under this Section 3.6, then counsel for such party shall be entitled to conduct the defense to
the extent reasonably determined by such counsel to be necessary to protect the interest of such party. The failure to notify an indemnifying party promptly of the commencement of any such action, if materially prejudicial to the ability of the
indemnifying party to defend such action, shall relieve such indemnifying party, to the extent so materially prejudiced, of any liability to the indemnified party under this Section 3.6, but the omission so to notify the indemnifying party will not
relieve such party of any liability that such party may have to any indemnified party otherwise other than under this Section 3.6. 
  
 3.6.4 Contribution. 
  
 If the indemnification provided for in this Section 3.6 is held by a court of competent jurisdiction to be unavailable to an indemnified party with
respect to any loss, liability, claim, damage or expense referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a result
of such loss, liability, claim, damage or expense 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 statements or omissions
that resulted in such loss, liability, claim, damage or expense as well as any other relevant equitable considerations; provided, that, in no event shall any contribution by a Holder under this Subsection 3.6 exceed the net proceeds from the
offering received by such Holder. The relative 
  

 - 16 - 

 fault of the indemnifying party and of the indemnified party shall be determined 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. 
  
 3.6.5 Underwriting Agreement. 
  
 Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing
provisions, the provisions in the underwriting agreement shall control. 
  
 3.6.6 Survival. 
  
 The
obligations of the Company and Holders under this Section 3.6 shall survive the completion of any offering of Registrable Securities in a registration statement under this Section 3, and otherwise. No indemnifying party, in defense of any claim of
litigation set forth under this Section 3.6, shall, except with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement that 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. 
  
 3.7 Limitations on Registration Rights Granted to Other Securities. 
  
 From and after the date hereof, the Company shall not enter into any agreement with any holder or prospective holder of any
securities of the Company providing for the granting to such holder of any information or Registration rights, except that, with the consent of the Holders of sixty-seven (67%) of the Registrable Securities then outstanding, additional holders may
be added as parties to this Agreement with regard to any or all securities of the Company held by them. Any such additional parties shall execute a counterpart of this Agreement, and upon execution by such additional parties and by the Company,
shall be considered an Investor for all purposes of this Agreement. The additional parties and the additional Registrable Securities shall be identified in an amendment to Schedule A hereto. 
  
 3.8 Transfer of Rights. 
  
 The rights to information under Section 2 and the right to cause the Company
to Register securities granted by the Company to the Investors under Sections 3.1 and 3.2 may be assigned by any Holder to a transferee or assignee of any Convertible Securities or Registrable Securities not sold to the public acquiring at least
five hundred thousand (500,000) shares of such Holder’s Registrable Securities (equitably adjusted for all stock splits, subdivisions, stock dividends, combinations and the like); provided, however, that (i) the Company must receive written
notice prior to the time of said transfer, stating the name and address of said transferee or assignee and identifying the securities with respect to which such rights are being assigned, and (ii) with respect to the rights to information and
inspection under Section 2, the transferee or assignee of such rights must not be a person deemed by the Board, in its best judgment (which conclusion shall be evidenced by a Board resolution), to be, or have a material beneficiary interest in, an
operational company that is a direct competitor of the Company. Notwithstanding 
  

 - 17 - 

 the limitation set forth in the foregoing sentence respecting the minimum number of shares which must be transferred, (a)
any Holder which is a partnership may transfer such Holder’s rights to such Holder’s constituent partners, retired partners (including spouses, ancestors, lineal descendants and siblings of such partners or spouses who acquire Convertible
Securities or Registrable Securities by gift, will or intestate succession) or their respective Affiliates, (b) any Holder which is a natural person may transfer such Holder’s rights to any immediate family member or to any trust created for
the benefit of such Holder or his or her immediate family members, and (c) any Holder may transfer such Holder’s rights to an Affiliate, subject in each case to such transferee’s agreeing to be bound by the rights and restrictions of this
Agreement. The rights under Sections 4 and 5 may be assigned by an Investor only as provided in such Sections. 
  
 3.9 Market Stand-off. 
  
 If requested in writing by the underwriters for the initial public offering of the Company’s Common Stock, each holder of Registrable Securities who
is a party to this Agreement shall agree not to sell publicly any shares of Registrable Securities or any other securities of the Company (other than shares of Registrable Securities or other securities of the Company being registered in such
offering), without the consent of such underwriters, for a period of not more than one hundred eighty (180 days) following the effective date of the registration statement relating to such offering; provided, however, that the Company
shall use commercially reasonable efforts to convince such managing underwriters to allow for alternative means of liquidity for the holders if, in the opinion of such managing underwriters, such liquidity can be provided without an adverse impact
on such initial public offering; and, provided, further, however, that all persons entitled to registration rights with respect to shares of Common Stock who are not parties to this Agreement, all other persons selling shares of
Common Stock in such offering and all executive officers and directors of the Company and holders of at least one percent (1%) of the Company’s voting securities shall also have agreed not to sell publicly their Common Stock under the
circumstances and pursuant to the terms set forth in this section. Each Holder agrees to execute and deliver such other agreements as may be reasonably requested by the Company, or the Company’s underwriters, which are consistent with the
foregoing, or which are reasonably necessary to give further effect thereto. Neither the Company nor the underwriter shall amend, modify, waive or terminate a “lock up” agreement with one Holder unless each “lock up” agreement
with all other Holders is also amended, modified or waived in a similar manner or terminated, as the case may be. 
  
 3.10 Sale of Preferred Stock to Underwriter. 
  
 Notwithstanding any provision in this Agreement to the contrary, in lieu of converting any Convertible Securities prior to the filing of any Registration
Statement filed pursuant to this Agreement, the holder of such Convertible Securities may sell such Convertible Securities to the underwriters of the offering being Registered upon the undertaking of such underwriters to convert the Convertible
Securities on or prior to the closing date of the offering. If and when the Convertible Securities are converted in accordance with their applicable terms and conditions, the Company agrees to cause the Common Stock issuable on the conversion of the
Convertible Securities to be issued within such time period as will permit the underwriters to make and complete the distribution contemplated by the underwriting. 
  

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 3.11 Rule 144 Requirements. 
  
 Immediately after the date on which a Registration Statement filed by the Company under the Securities Act becomes
effective, the Company shall undertake to make publicly available, and available to the Holders of Registrable Securities, such information as is necessary to enable the holders of Registrable Securities to make sales of Registrable Securities
pursuant to Rule 144 of the Commission under the Securities Act. The Company shall furnish to any holder of Registrable Securities, upon request, a written statement executed by the Company as to the steps it has taken to comply with the current
public information requirements of Rule 144. 
  
 3.12
Termination of Company Agreements. 
  
 The Registration
rights set forth in Sections 3.1 and 3.2 shall terminate as to any Holder, at any time following the effective date of the Company’s first Qualified Public Offering, when such Holder is entitled to sell all of such Investor’s Registrable
Securities pursuant to Rule 144 (including Rule 144(k)) of the Commission under the Securities Act. 
  
 SECTION 4. RIGHT OF FIRST REFUSAL 
  
 4.1 Right of First Refusal. 
  
 The Company hereby grants to each Investor the right of first refusal to purchase such Investor’s pro rata share of New Securities (as defined in Section 4.2) which the Company may from time to time propose to sell and issue (the
“Right of First Refusal”). For purposes of this Agreement, an Investor’s pro rata share (the “Pro Rata Share”) shall be equal to that number or amount of New Securities to be sold multiplied by a fraction, the
numerator of which shall be the number of shares of Common Stock deemed to be owned by such Investor assuming the conversion of all Convertible Securities and the exercise of all options and warrants owned by such Investor and the denominator of
which shall be the total number of shares of the Company’s Common Stock deemed to be outstanding assuming the conversion of all outstanding convertible securities and the exercise of all outstanding options and warrants. Notwithstanding the
foregoing, any Investor may, at the time it accepts the Company’s offer, subscribe to purchase any or all of the securities offered (“Oversubscription Securities”) which may be available as a result of the rejection, or partial
rejection, of the offer by other Investors. All such Oversubscription Securities shall be allocated on a pro rata basis among those Investors subscribing to purchase them. Notwithstanding the foregoing, the Company shall not be required to offer or
sell such New Securities to any Investor who would cause the Company to be in violation of applicable federal securities laws by virtue of such offer or sale. The Right of First Refusal shall be subject to the following provisions: 
  
 4.2 Definition of New Securities. 
  
 “New Securities” shall mean any shares of Common Stock or
Preferred Stock of the Company, whether now authorized or not, and rights, options, or warrants to purchase such shares of Common Stock or Preferred Stock, and all other securities having equity features, such as convertible notes or notes issued in
conjunction with options or warrants; provided that “New Securities” shall not include: 
  
 (i) securities issued upon the conversion of any shares of the Preferred Stock; 
  

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 (ii) securities issued to the Company’s employees or officers or directors or outside consultants
or contractors pursuant to a plan, agreement or arrangement duly approved by the Board; 
  
 (iii) securities issued or issuable pursuant to the exercise of options, warrants or convertible securities outstanding as of the date hereof; 
  
 (iv) securities issued in connection with obtaining lease financing, whether issued to a lessor, guarantor or other person,
provided that such issuance is pursuant to an agreement or arrangement duly approved by the Board; 
  
 (v) securities issued to effect any stock split, stock dividend or recapitalization of the Company; 
  
 (vi) securities issued in connection with any borrowings, direct or
indirect, from financial institutions or other persons by the Company, provided that such issuance is pursuant to an agreement or arrangement duly approved by the Board; 
  
 (vii) securities issued in connection with the acquisition of all or a substantial portion of the assets or the business of
another entity by the Company provided that such issuance is pursuant to an agreement or arrangement duly approved by the Board; 
  
 (viii) securities issued in connection with a corporate partnering transaction, strategic alliance, technology acquisition or transfer, or similar
transaction, provided such issuance is pursuant to an agreement or arrangement duly approved by the Board; and 
  
 (ix) securities issued pursuant to a Qualified Public Offering. 
  

For the purposes of this Section 4.2 “securities” shall mean any shares of Common Stock or Preferred Stock of the Company, whether now
authorized or not, and rights, options, or warrants to purchase such shares of Common Stock or Preferred Stock, and all other securities having equity features, such as convertible notes or notes issued in conjunction with options or warrants.

  
 4.3 Notices. 
  
 In the event the Company proposes to undertake an issuance of New
Securities, it shall give each Investor written notice (the “Notice”) of its intention, describing the type of New Securities, the price, and the principal terms upon which the Company proposes to issue the same. Each Investor shall
have twenty (20) days from the delivery of the Notice to agree to purchase up to the Investor’s Pro Rata Share plus any Oversubscription Securities for the price and upon the terms specified in the Notice by giving written notice to the Company
and stating therein the quantity of New Securities and Oversubscription Securities to be purchased. 
  

 - 20 - 

 4.4 Failure to Exercise Right. 
  
 In the event an Investor does not elect to purchase all of such Investor’s Pro Rata Share of the New Securities
pursuant to Section 4.1 and such New Securities are not purchased by other Investors, the Company shall have ninety (90) days after the last date on which any Investor’s right to purchase lapsed to sell or enter into an agreement (pursuant to
which the sale of New Securities covered thereby shall be closed, if at all, within ninety (90) days from the date of said agreement) to sell the New Securities respecting which such Investor’s option was not exercised, at or above the price
and upon terms not materially more favorable to the purchasers of such securities than the terms specified in the initial Notice given in connection with such sale. In the event the Company has not sold the New Securities within said 90-day period
(or sold and issued New Securities in accordance with the foregoing within ninety (90) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering such New Securities to the
Investors in the manner provided in this Section 4. 
  
 4.5
Rights of Affiliated Investors. 
  
 For the purposes of
this Section 4, Investors who are Affiliates of one or more other Investors shall, at the election of an Investor and one or more such Affiliates, be treated as a group (an “Investor Group”). Members of an Investor Group shall have
the right to reallocate the rights granted by this Section 4 among themselves as they determine. 
  
 4.6 Assignment. 
  
 The Right of First Refusal set forth in this Section 4 may not be assigned or transferred, except that each Investor shall have the right to assign its
right to purchase securities under this Section 4 to any Affiliate of such Investor; provided such Affiliate agrees in writing with the Company and the Investors, prior to and as a condition precedent to such transfer, to be bound by all the
provisions of Sections 3.9, 5 and 6 of this Agreement. 
  
 4.7
Termination. 
  
 The Right of First Refusal granted under
this Section 4 shall terminate on and be of no further force or effect upon the effective date of the Company’s registration statement filed in connection with the Company’s first Qualified Public Offering . 
  
 SECTION 5. TRANSFERS OF SECURITIES BY INVESTORS. 
  
 5.1 Notices. 
  
 If any Investor (the “Transferor”) proposes to sell,
assign, hypothecate or otherwise transfer (a “Transfer”) any securities of the Company owned by such Investor from and after the date of this Agreement, other than pursuant to the provisions of Section 5.6 of this Agreement, the
Transferor shall first give each of the other Investors the right to purchase such securities by delivering to them a written offer which shall state the price and other terms and conditions of the proposed Transfer. If the Transferor proposes to
Transfer the securities for consideration other than solely cash and/or promissory notes, the offer to the Investors shall, to the extent of such consideration, permit each Investor to pay in lieu thereof, cash equal to the fair market value of such
consideration, and the offer shall state the estimate of such fair market value as determined by the Board. The Transferor shall fix the period of the offer which shall be a minimum of thirty (30) days or such longer period as is necessary to
determine the fair market value of the consideration referred to in the preceding sentence. 
  

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 5.2 Acceptance of Offer. 
  
 An Investor may accept an offer (“Purchasing Investor”) only by giving written notice to the Transferor
before the offer expires that such Purchasing Investor has accepted the offer to purchase some or all of the securities offered (the “Accepted Securities”); provided, however, that the maximum number or amount of securities a
Purchasing Investor shall be entitled to purchase shall be equal to that number or amount of securities to be transferred multiplied by a fraction, the numerator of which shall be the number of shares of Common Stock issued or issuable upon
conversion of the Convertible Securities (the “Conversion Shares”) held or deemed to be held by such Purchasing Investor and assuming the exercise of all outstanding warrants and options held by such Purchasing Investor and the
denominator of which shall be the aggregate number of Conversion Shares held by all Investors and assuming the exercise of all outstanding warrants and options by such Investors, but excluding the Transferor’s Conversion Shares. Notwithstanding
the foregoing, any Purchasing Investor may, at the time it accepts the offer, subscribe to purchase any or all securities offered which may be available as a result of the rejection, or partial rejection, of the offer by other Investors, which
securities shall be allocated on a pro rata basis among those Purchasing Investors subscribing to purchase them. 
  
 5.3 Allocation of Securities and Payment. 
  
 Promptly following the expiration of an offer, the Transferor shall allocate the securities subscribed for among the Purchasing Investors accepting or
partially accepting the offer, pro rata, based upon their respective holdings as aforesaid, and shall by written notice (the “Acceptance Notice”) advise all Purchasing Investors of the number or amount of securities allocated to
each of the Purchasing Investors. Within fifteen (15) days following receipt of the Acceptance Notice, each of the Purchasing Investors shall deliver to the Transferor payment in full for the Accepted Shares purchased by it against delivery by the
Transferor to each Purchasing Investor of a certificate or certificates evidencing the Accepted Securities purchased by it. 
  
 5.4 Failure to Exercise. 
  
 To the extent an offer pursuant to Section 5.1 is not accepted by the other Investors, the Transferor may, for a period of ninety (90) days thereafter,
transfer the unaccepted securities, or any of them, at or above the price, and upon the other terms and conditions specified in such offer, to any Person or Persons; provided that such Person or Persons agrees in writing with the Company and the
Investors, prior to and as a condition precedent to such Transfer, to be bound by all of the provisions of Sections 3.9, 5 and 6 of this Agreement. 
  
 5.5 Assignment. 
  
 The right of first refusal set forth in this Section 5 may not be assigned or transferred, except that each Investor shall have the right to assign its
rights to purchase such securities under this Section 5 to any Affiliate of such Investor; provided such Affiliate agrees in writing with the Company and the Investors, prior to and as a condition precedent to such assignment, to be bound by all of
the provisions of Sections 3.9, 5 and 6 of this Agreement. 
  

 - 22 - 

 5.6 Permitted Transfers. 
  
 (a) Notwithstanding anything to the contrary contained herein, any Investor which is a partnership may transfer, without
first offering any securities of the Company to any other Investor, all or any of its securities to any of its Affiliates or successor funds or to a partner or retired partner of such partnership or to the estate of any such partner or transfer by
will or intestate succession to his spouse or to the siblings, lineal descendants or ancestors of such partner or his spouse; provided such transferee agrees in writing with the Company and the Investors, prior to and as a condition precedent to
such Transfer, to be bound by all of the provisions of Sections 3.9, 5 and 6 of this Agreement. 
  
 (b) Notwithstanding anything to the contrary contained herein, any Investor which is a corporation may Transfer, without first offering any securities of
the Company to any other Investor, all or any of its securities to any of its Affiliates, provided such Affiliate agrees in writing with the Company and the Investors, prior to and as a condition precedent to such Transfer, to be bound by all of the
provisions of Sections 3.9, 5 and 6 of this Agreement. 
  
 (c)
Notwithstanding anything to the contrary contained herein, any Investor who is an individual may Transfer, without first offering any securities of the Company to any other Investor, all or any of his securities to his spouse or his or his
spouse’s siblings, lineal descendants or ancestors or any entity that is an Affiliate of such Investor; provided such transferee agrees in writing with the Company and the Investors, prior to and as a condition precedent to such Transfer, to be
bound by all of the provisions of Sections 3.9, 5 and 6 of this Agreement. 
  
 5.7 Termination. 
  
 The
right of first refusal granted under this Section 5 shall expire upon the effective date of the Company’s registration statement filed in connection with the Company’s first Qualified Public Offering and shall not be applicable to any
shares sold pursuant thereto. 
  
 SECTION 6. MISCELLANEOUS. 
  
 6.1 Entire Agreement; Successors and Assigns. 
  
 This Agreement constitutes the entire contract between the Company and the
Investors relative to the subject matter hereof. Any previous agreement between the Company, the Investors and the Holders concerning Registration rights, including the Prior Rights Agreement, is superseded by this Agreement. Subject to the
exceptions specifically set forth in this Agreement, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective executors, administrators, heirs, successors and assigns of the parties. 
  
 6.2 Aggregation of Stock. 
  
 All Convertible Securities and Registrable Securities held or acquired by
affiliated entities or persons shall be aggregated together for the purpose of determining the availability of any rights under this Agreement. 
  

 - 23 - 

 6.3 Governing Law. 
  
 THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA APPLICABLE TO
CONTRACTS ENTERED INTO AND WHOLLY TO BE PERFORMED WITHIN THE STATE OF CALIFORNIA BY CALIFORNIA RESIDENTS. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE RIGHT TO TRIAL BY JURY IN RESPECT TO ANY
LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY TRANSACTIONS CONTEMPLATED HEREBY. 
  
 6.4 Counterparts. 
  
 This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one
and the same instrument. 
  
 6.5 Headings. 
  
 The headings of the Sections of this Agreement are for convenience and shall
not by themselves determine the interpretation of this Agreement. 
  
 6.6 Notices. 
  
 Any notice required or permitted
hereunder shall be given in writing and shall be conclusively deemed effectively given upon personal delivery, or five (5) days after deposit in the United States mail, by registered or certified mail (or airmail, if notice shall be sent outside the
United States), postage prepaid, or two (2) days after delivery to a nationally known air courier company, addressed (i) if to the Company, to the Company’s address as set forth below the Company’s name on the signature page of this
Agreement and (ii) if to an Investor, to such Investor’s address as set forth on the signature page of this Agreement, or at such other address as the Company or such Investor may designate by ten (10) days, advance written notice to the other
parties hereto. Any notice sent outside the United States shall also be telexed or telecopied. 
  
 6.7 Amendment of Agreement; Waivers. 
  
 Subject to Section 3.7, any provision of this Agreement may be amended or waived by a written instrument signed by the Company and by Persons holding at least sixty-seven percent (67%) of the Registrable Securities;
provided, however, that no amendment or waiver shall be made in a manner that adversely impacts one Investor in a manner different than all other Investors without the consent of such Investor. Notwithstanding the foregoing, any amendment or waiver
effected in accordance with Section 3.7 or this Section 6.7 shall be binding upon the Company and all Holders and each of their respective successors and assigns. 
  
 6.8 Amendment and Termination of Prior Rights Agreement. 
  
 The Prior Rights Agreement is hereby amended in its entirety and restated
herein. Such amendment and restatement is effective upon the execution of this Agreement by the 
  

 - 24 - 

 Company and Persons holding at least sixty-seven percent (67%) of the “Registrable Securities” under the
Prior Rights Agreement. Upon such execution, all provisions of, rights granted and covenants made in the Prior Rights Agreement (including, without limitation, the rights of first refusal set forth in Section 4 of the Prior Rights Agreement) are
hereby waived, released and terminated in their entirety and shall have no further force and effect (including, without limitation, with respect to the Series E Preferred Stock issued pursuant to the Purchase Agreement and the shares issued upon
conversion or exercise thereof). 
  
 6.9 Additional
Investors. 
  
 Notwithstanding anything to the contrary
contained herein, if the Company shall issue additional Series E Preferred Stock pursuant to the terms of the Purchase Agreement or another transaction approved by the Board that is in compliance with Section 4 hereof, any purchaser of such
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. In addition, Exhibit A hereto shall be amended to reflect
any such additional sales of securities. 
  

 - 25 - 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

  

					
	COMPANY:
	
	SKINMEDICA, INC.
		
	By:	 	 /s/ Rex Bright

	 	 	Rex Bright,
	 	 	President and Chief Executive Officer
			
	 	 	Address:	 	5909 Sea Lion Place, Suite H
	 	 	 	 	Carlsbad, CA 92008
	 	 	 	 	Attn: President & CEO
	 	 	 	 	Fax No.: (760) 448-3601

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above
written. 
  

					
	EUCLIDSR PARTNERS, L.P.
		
	By:	 	EUCLIDSR Associates, L.P.
	 	 	its general partner
		
	By:	 	 /s/ Graham D.S. Anderson

	 	 	Graham D.S. Anderson
	 	 	General Partner
			
	 	 	Address:	 	45 Rockefeller Plaza
	 	 	 	 	Suite 3240
	 	 	 	 	New York, NY 10020
	 	 	 	 	Fax No.: (212) 218-6877
	
	EUCLIDSR BIOTECHNOLOGY PARTNERS L.P.
		
	By:	 	EUCLIDSR Biotechnology Associates, L.P.
	 	 	its general partner
		
	By:	 	 /s/ Graham D.S. Anderson

	 	 	Graham D.S. Anderson
	 	 	General Partner
			
	 	 	Address:	 	45 Rockefeller Plaza
	 	 	 	 	Suite 3240
	 	 	 	 	New York, NY 10020
	 	 	 	 	Fax No.: (212) 218-6877
		
	 	 	With a copy to:
		
	 	 	Ropes & Gray LLP
	 	 	45 Rockefeller Plaza
	 	 	New York, NY 10111
	 	 	Fax No.: (212) 841-5725
	 	 	Attn: Kristopher Brown, Esq.

	

  
  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above
written. 
  

			
	APAX EXCELSIOR VI, L.P.
		
	By:	 	Apax Excelsior VI Partners, L.P.,
	 	 	Its General Partner
		
	By:	 	Apax Managers, Inc.
	 	 	Its General Partner
		
	By:	 	 /s/ Illegible

	 	 	Name:
	 	 	Title: Vice President
	
	Address:
	445 Park Avenue
	New York, NY 10022
	Fax No.: (212) 319-6155

  
  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS
	
	APAX EXCELSIOR VI-A C.V.
		
	By:	 	Apax Excelsior VI Partners, L.P.,
	 	 	Its General Partner
		
	By:	 	Apax Managers, Inc.
	 	 	Its General Partner
		
	By:	 	 /s/ Illegible

	 	 	Name:
	 	 	Title: Vice President
	
	Address:
	445 Park Avenue
	New York, NY 10022
	Fax No.: (212) 319-6155

  
  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	APAX EXCELSIOR VI-B C.V.
		
	By:	 	Apax Excelsior VI Partners, L.P.,
	 	 	Its General Partner
		
	By:	 	Apax Managers, Inc.
	 	 	Its General Partner
		
	By:	 	 /s/ Illegible

	 	 	Name:
	 	 	Title: Vice President
	
	Address:
	445 Park Avenue
	New York, NY 10022
	Fax No.: (212) 319-6155

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	PATRICOFF PRIVATE INVESTMENT
	CLUB III, L.P.
		
	By:	 	Apax Excelsior VI Partners, L.P.,
	 	 	Its General Partner
		
	By:	 	Apax Managers, Inc.
	 	 	Its General Partner
		
	By:	 	 /s/ Illegible

	 	 	Name:
	 	 	Title: Vice President
	
	Address:
	445 Park Avenue
	New York, NY 10022
	Fax No.: (212) 319-6155

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	DOMAIN PARTNERS V, L.P.
		
	By:	 	One Palmer Square Associates V,
	 	 	L.L.C., its General Partner
		
	By:	 	 /s/ Kathleen K. Shoemaker

	 	 	Name: Kathleen K. Shoemaker
	 	 	Title:   Managing Member
	
	Address:
	c/o Domain Associates, L.L.C.
	One Palmer Square
	Princeton, NJ 08542
	Attn: Brian J. Dovey
	Fax No.: (609) 683-9789
	
	With a copy to:
	Domain Associates, L.L.C.
	One Palmer Square
	Princeton, NJ 08542
	Attn: Kathleen K. Schoemaker
	Fax No.: (609) 683-9789

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	DP V ASSOCIATES, L.P.
		
	By:	 	One Palmer Square Associates V,
	 	 	L.L.C., its General Partner
		
	By:	 	 /s/ Kathleen K. Shoemaker

	 	 	Name: Kathleen K. Shoemaker
	 	 	Title:   Managing Member
	
	Address:
	c/o Domain Associates, L.L.C.
	One Palmer Square
	Princeton, NJ 08542
	Attn: Brian J. Dovey
	Fax No.: (609) 683-9789
	
	With a copy to:
	Domain Associates, L.L.C.
	One Palmer Square
	Princeton, NJ 08542
	Attn: Kathleen K. Schoemaker
	Fax No.: (609) 683-9789

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	 PERSEUS-SOROS
 BIOPHARMACEUTICAL FUND,
LP

		
	By:	 	 /s/ Illegible

	 	 	Name:
	 	 	Attorney-in-Fact
	
	 Address:
 Perseus-Soros Biopharmaceutical
Fund, L.P.

	888 Seventh Avenue, 29th Floor,
	New York, NY 10106
	Attention: Dr. Andrew Schiff
	Fax No.: (212) 651-6379
	
	with a copy to:
	Perseus-Soros Biopharmaceutical Fund, L.P.
	c/o Soros Fund Management LLC
	888 Seventh Avenue, 31st Floor
	New York, NY 10106
	Attention: Richard D. Holahan, Jr., Esq.
	Fax No.: (212) 376-1879
	
	and
	
	Paul, Weiss, Rifkind, Wharton & Garrison LLP
	1285 Avenue of the Americas
	New York, NY 10019-6064
	Attention: Bruce A. Gutenplan, Esq.
	Fax No.: (212) 757-3990

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	HALE FAMILY TRUST UTD 2/10/86
		
	By:	 	 /s/ David F. Hale, Trustee

	 	 	David F. Hale, Trustee
	
	Address: P.O. Box 8925
	17079 Circa del Sur
	Rancho Santa Fe, CA 92067
	Fax No.: (760) 431-7917

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	JAFFE INVESTMENT GROUP, LLC
		
	By:	 	 /s/ Richard Jaffe

	 	 	Richard Jaffe
	
	Address: 550 West “C” Street, Suite 1700
	San Diego, CA 92101
	Fax No.: (619) 282-7707

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	 STEPHENS, INC. CUSTODIAN OF THE
 JAMES C.
GILSTRAP IRA

		
	By:	 	 /s/ James Gilstrap

	 	 	James Gilstrap
	
	Address: 5067 Shore Drive
	Carlsbad, CA 92008
	Fax No.: (760) 431-2424

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  
  

	
	INVESTORS:
	
	 /s/ Mark Rubin

	Mark G. Rubin
	
	Address: 153 South Lasky Drive # 1
	Beverly Hills, CA 90212
	Fax No.: (310) 556-0011

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	BRIGHT FAMILY TRUST
		
	By:	 	 /s/ Rex Bright, Trustee

	 	 	Rex Bright, Trustee
	
	Address: c/o SkinMedica, Inc.
	5909 Sea Lion Place, Suite H
	Carlsbad, CA 92008
	Fax No.: (760) 268-0979

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	ST PAUL VENTURE CAPITAL VI, LLC
	
	By: SPVC Management VI, LLC,
	it’s Managing Member
		
	By:	 	 /s/ Michael B. Gorman

	 	 	Name: Michael B. Gorman
	 	 	It’s: Managing Director
	
	Address: 10400 Viking Drive
	Suite 550
	Eden Prairie, MN 55344
	Fax No: (952) 995-7475

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	WILLIAM A. ROPER, JR. and MELANIE A. ROPER TRUST UTD 10/18/01
		
	By:	 	 /s/ William A. Roper, Jr., Trustee

	 	 	William A. Roper, Jr., Trustee
	
	Address: c/o SAIC
	1200 Prospect Street, Suite 400
	M/S L-3-B
	La Jolla, CA 92037
	Fax No.: (858) 826-2222

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	WINDAMERE III, LLC
		
	By:	 	 /s/ Scott L. Glenn

	 	 	Scott L. Glenn,
	 	 	Managing Member
	
	Address: c/o Windamere Venture Partners
	6402 Cardeno Drive
	La Jolla, CA 92037
	Fax No.: (858) 456-2295

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	 	 	INVESTORS:
		
	 	 	 /s/ Cam L. Garner

	 	 	Cam L. Garner
		
	 	 	Address: 5949 Greensview Court
	 	 	Rancho Santa Fe, CA 92067
	 	 	Fax No.: (858) 756-9518
	
	GARNER FAMILY TRUST UTD 10/21/87 AS RESTATED 8/9/01
		
	By:	 	 /s/ Cam L. Garner, Trustee

	 	 	Cam L. Garner,
	 	 	Trustee
	
	Address: 5949 Greensview Court
	Rancho Santa Fe, CA 92067
	Fax No.: (858) 756-9518

  
  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	 UBS PAINEWEBBER CDN FBO
 N. SCOTT
MACBEAN

		
	By:	 	 /s/ N. Scott MacBean

	 	 	N. Scott MacBean
	
	Address: 1314 Pine Road
	Rosemont, PA 19101-1635
	Fax No.: (610) 275-5122

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

	
	INVESTORS:
	
	 /s/ Scott N. Wolfe

	Scott N. Wolfe
	
	Address: c/o Latham & Watkins LLP
	12636 High Bluff Drive, Suite 300
	San Diego, CA 92130-2071
	Fax No.: (858) 523-5450

  
  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

	
	INVESTORS:
	
	 /s/ Cheston J. Larson

	Cheston J. Larson
	
	Address: c/o Latham & Watkins LLP
	12636 High Bluff Drive, Suite 300
	San Diego, CA 92130-2071
	Fax No.: (858) 523-5450

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

	

  

	
	INVESTORS:
	
	 /s/ Randall K. Simpson

	Randall K. Simpson
	
	Address: 13997 Pequot Drive
	Poway, CA 92064
	Fax No.: (760) 517-3200

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	 GLEICHER FAMILY TRUST UTD
 08/30/93

		
	By:	 	 /s/ Alan A. Gleicher, Trustee

	 	 	Alan A Gleicher, Trustee
		
	By:	 	 /s/ Marleigh S. Gleicher, Trustee

	 	 	Marleigh S. Gleicher, Trustee
	
	Address: 1665 El Camino Del Teatro
	La Jolla, CA 92037
	Fax No.: (858) 454-1953

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

	
	INVESTORS:
	
	 /s/ R.L. Graham

	R. L. Graham
	
	Address: 939 Coast Blvd. #17G
	La Jolla, CA 92037
	Fax No.: (858) 459-3544

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

					
	INVESTORS:
	
	 WARING FAMILY TRUST UTD
 SEPTEMBER 26,
1988

			
	 	 	By:	 	 /s/ James T. Waring, Trustee

	 	 	 	 	James T. Waring, Trustee
			
	 	 	By:	 	 /s/ Kathy P. Waring, Trustee

	 	 	 	 	Kathy P. Waring, Trustee
		
	 	 	Address: 550 West “B” Street, Suite 400
	 	 	San Diego, CA 92101
	 	 	Fax No.: (619) 557-4390

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

	
	INVESTORS:
	
	 /s/ Arnold W. Klein

	Arnold W. Klein
	
	Address: 435 North Roxbury Drive
	Suite 204
	Beverly Hills, CA 90210
	Fax No.: (310) 275-2154

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

	
	INVESTORS:
	
	 /s/ Roy Geronemus

	Roy Geronemus
	
	Address: 317 E. 34th Street
	New York, NY 10016
	Fax No.: (212) 686-3802

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

							
	INVESTORS:
	
	HEALTHCARE VENTURES VII, L.P.
		
	By:	 	Healthcare Partners VII, L.P.
			
	 	 	By:	 	 /s/ Jeffrey B. Steinberg

	 	 	 	 	Name:	 	Jeffrey B. Steinberg
	 	 	 	 	Title:	 	Administrative Partner
	
	Address:
	c/o HealthCare Ventures
	55 Cambridge Parkway #301
	Cambridge, MA 02142
	Fax No.: (617) 252-4342

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

							
	INVESTORS:
	
	MONTREUX EQUITY PARTNERS III SBIC, LP
		
	By:	 	Montreux Equity Management III SBIC, LLC, its General Partner
			
	 	 	By:	 	 /s/ Daniel K. Turner III

	 	 	 	 	Name:	 	Daniel K. Turner III
	 	 	 	 	Title:	 	Managing Member
	
	Address:
	c/o Montreux Equity Partners
	3000 Sand Hill Road; Building 1; Suite 260
	Menlo Park, CA 94025
	Fax No.: (650) 234-1250

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

							
	INVESTORS:
	
	MONTREUX EQUITY PARTNERS II SBIC, LP
		
	By:	 	 Montreux Equity Management II SBIC, LLC,
 its
General Partner

			
	 	 	By:	 	 /s/ Daniel K. Turner III

	 	 	 	 	Name:	 	Daniel K. Turner III
	 	 	 	 	Title:	 	Managing Member
	
	Address:
	c/o Montreux Equity Partners
	3000 Sand Hill Road; Building 1; Suite 260
	Menlo Park, CA 94025
	Fax No.: (650) 234-1250

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

					
	INVESTORS:
	
	HARD Z PARTNERS – VENTURE II
		
	By:	 	 /s/ Jack Wade

	 	 	Name:	 	Jack Wade
	 	 	Title:	 	General Partner
	
	Address:
	6893 Via Valverde
	La Jolla, CA 92037
	Fax No: (858) 459-7731

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

					
	INVESTORS:
	
	MORRIS ENTERPRISES
		
	By:	 	 /s/ Lane Morris

	 	 	Name:	 	Lane Morris
	 	 	Title:	 	President
	
	Address:
	7270 Via Mariposa Sur
	Bonsall, CA 92003
	Fax No: (760) 806-6667

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

					
	INVESTORS:
	
	DRD FAMILY PARTNERSHIP, LP
		
	By:	 	 /s/ Rod Dammeyer

	 	 	Name:	 	Rod Dammeyer
	 	 	Title:	 	General Partner
	
	Address:
	c/o CAC Investments
	4350 La Jolla Village Drive;
	Suite 980
	San Diego, CA 92122
	Fax: (858) 452-2784

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

					
	INVESTORS:
	
	CAC, LLC
		
	By:	 	 /s/ Rod Dammeyer

	 	 	Name:	 	Rod Dammeyer
	 	 	Title:	 	President
	
	Address:
	c/o CAC Investments
	4350 La Jolla Village Drive;
	Suite 980
	San Diego, CA 92122
	Fax: (858) 452-2784

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

			
	INVESTORS:
	
	FOG CITY FUND, LLC
		
	By:	 	Fog City Management, LLC
	Its:	 	Managing Member
	
	 /s/ Nancy S. Olson

	By:	 	Nancy S. Olson
	Its:	 	Managing Member
	
	Address:
	c/o Fog City Fund
	2100 Green Street, Suite 102
	San Francisco, CA 94123
	Fax No: (415) 885-1153

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above
written. 
  

					
	INVESTORS:
	
	BIO 21 VENTURE CAPITAL CORPORATION
		
	By:	 	 Chih-Lung Shen

	 	 	Name:	 	Chih-Lung Shen
	 	 	Title:	 	President
	
	Address:
	Michael Huang/Kelvin Chen
	Cheng Xin Venture Capital Corporation
	 5th Floor, NO 143, Section 2 Min-Sheng
 East
Road

	Taipai, ROC, Taiwan
	Fax No: (886) 2-2500-6908

  

 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 COUNTERPART SIGNATURE PAGE 

 SCHEDULE A 
  
 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 INVESTORS 
  

															
	 INVESTOR

	  	Series A
Preferred
Shares

	  	 Series B
 Preferred
Shares

	  	Series B
Warrants

	  	Series C
Preferred
Shares

	  	Series D
Preferred
Shares

	  	Series D
Warrants

	  	Series E
Preferred
Shares

	 EUCLIDSR PARTNERS
	  	 	  	 	  	 	  	 	  	 	  	 	  	1,428,571
	 EUCLIDSR BIOTECHNOLOGY PARTNERS, L.P.
	  	 	  	 	  	 	  	 	  	 	  	 	  	612,245
	 PERSEUS-SOROS BIOPHARMACEUTICAL FUND, LP
	  	 	  	 	  	 	  	 	  	7,531,381	  	502,342	  	612,245
	 HEALTHCARE VENTURES VII, L.P.
	  	 	  	 	  	 	  	 	  	4,184,100	  	279,079	  	777,458
	 APAX EXCELSIOR VI, L.P.
	  	 	  	 	  	 	  	2,913,808	  	2,323,954	  	262,241	  	532,187
	 APAX EXCELSIOR VI-A C.V.
	  	 	  	 	  	 	  	238,015	  	189,833	  	21,420	  	43,472
	 APAX EXCELSIOR VI-B C.V.
	  	 	  	 	  	 	  	158,562	  	126,464	  	14,270	  	28,960
	 PATRICOF PRIVATE INVESTMENT CLUB III, L.P.
	  	 	  	 	  	 	  	99,571	  	79,414	  	8,961	  	18,186
	 DOMAIN PARTNERS V, L.P.
	  	 	  	2,741,364	  	 	  	971,804	  	2,861,279	  	313,443	  	889,581
	 DP V ASSOCIATES, L.P.
	  	 	  	64,758	  	 	  	22,957	  	67,591	  	7,404	  	21,014
	 MONTREUX EQUITY PARTNERS II SBIC, L.P.
	  	 	  	 	  	 	  	 	  	557,689	  	37,197	  	215,893
	 MONTREUX EQUITY PARTNERS III SBIC, L.P.
	  	 	  	 	  	 	  	 	  	697,541	  	46,525	  	274,772
	 CAC, LLC
	  	 	  	 	  	 	  	 	  	523,013	  	34,884	  	 
	 DRD FAMILY PARTNERSHIP, LP
	  	 	  	 	  	 	  	 	  	523,012	  	34,884	  	 
	 FOG CITY FUND, LLC
	  	 	  	 	  	 	  	 	  	627,515	  	41,861	  	86,006
	 BIO21 VENTURE CAPITAL CORPORATION
	  	 	  	 	  	 	  	 	  	418,410	  	27,907	  	158,517
	 WINDAMERE III, LLC
	  	250,000	  	637,755	  	10,204	  	 	  	 	  	 	  	 
	 STEPHENS, INC. CDN OF THE JAMES C. GILSTRAP IRA
	  	 	  	306,122	  	 	  	80,044	  	253,783	  	27,082	  	85,692
	 ROY GERONEMUS
	  	75,000	  	 	  	 	  	 	  	 	  	 	  	9,635
	 ARNOLD W. KLEIN
	  	75,000	  	 	  	 	  	19,611	  	 	  	 	  	12,154
	 MARK G. RUBIN
	  	75,000	  	 	  	 	  	 	  	25,000	  	1,668	  	13,061
	 GARNER FAMILY TRUST UTD 10/21/87 AS RESTATED 8/9/01
	  	205,000	  	260,204	  	10,204	  	 	  	 	  	 	  	 
	 WILLIAM A. ROPER, JR. AND MELANIE A. ROPER TRUST UTD 10/18/01
	  	250,000	  	204,082	  	10,204	  	85,106	  	 	  	 	  	 
	 HALE FAMILY TRUST UTD 2/10/86
	  	250,000	  	137,754	  	10,204	  	42,553	  	41,841	  	2,791	  	 
	 JAFFE INVESTMENT GROUP, LLC
	  	 	  	102,040	  	 	  	26,681	  	31,883	  	6,309	  	 
	 R. L. GRAHAM
	  	 	  	51,020	  	 	  	13,341	  	 	  	 	  	 
	 GLEICHER FAMILY TRUST UTD 8/30/93
	  	 	  	25,510	  	 	  	 	  	 	  	 	  	 
	 JAMES T. WARING
	  	 	  	17,858	  	 	  	 	  	 	  	 	  	 
	 WARING FAMILY TRUST U/T/D SEPTEMBER 26, 1988
	  	 	  	 	  	 	  	4,669	  	 	  	 	  	 
	 REX BRIGHT
	  	 	  	 	  	 	  	2,128	  	 	  	 	  	 
	 REX BRIGHT AND MARILYN BRIGHT, TRUSTEES OF THE BRIGHT FAMILY TRUST, DATED FEBRUARY 28, 2003
	  	 	  	12,755	  	 	  	 	  	8,369	  	558	  	3,059

 SCHEDULE A 
  
 SKINMEDICA, INC. 
 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 INVESTORS 
  

															
	 INVESTOR

	  	Series A
Preferred
Shares

	  	 Series B
 Preferred
Shares

	  	Series B
Warrants

	  	Series C
Preferred
Shares

	  	Series D
Preferred
Shares

	  	Series D
Warrants

	  	Series E
Preferred
Shares

	 UBS PAINEWEBBER CDN FBO N. SCOTT MACBEAN
	  	 	  	12,755	  	1,020	  	 	  	 	  	 	  	 
	 SCOTT N. WOLFE
	  	 	  	2,552	  	 	  	668	  	 	  	 	  	414
	 CHESTON J. LARSON
	  	 	  	2,552	  	 	  	667	  	837	  	55	  	528
	 RANDALL K. SIMPSON
	  	 	  	2,552	  	 	  	667	  	1,674	  	111	  	643
	 ST. PAUL VENTURE CAPITAL VI, LLC
	  	 	  	 	  	 	  	 	  	2,175,732	  	145,120	  	298,156
	 JOHN AND LESLIE HARRISON*
	  	15,000	  	 	  	 	  	 	  	 	  	 	  	 
	 RAY AND LYNN FENTRESS*
	  	15,000	  	 	  	 	  	 	  	 	  	 	  	 
	 W.H. GARNER JR. AND PAMELA G. GARNER*
	  	15,000	  	 	  	 	  	 	  	 	  	 	  	 
	 ROBERT L. JONES*
	  	 	  	10,204	  	 	  	 	  	 	  	 	  	 
	 SILICON VALLEY BANK**
	  	 	  	 	  	 	  	 	  	 	  	125,523	  	 
	 HARD Z PARTNERS – VENTURE II
	  	 	  	 	  	 	  	 	  	48,777	  	3,253	  	 
	 MORRIS ENTERPRISES
	  	 	  	 	  	 	  	 	  	30,126	  	2,009	  	 

	*	Deemed to be an Investor except with respect to Sections 4 and 5 of the Agreement. 

	**	Deemed to be an Investor solely for purposes of Section 3.2 of the Agreement.Form of Series B Bridge Loan Warrant

 Exhibit 4.3 
  

THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY
STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED OR UNLESS SOLD PURSUANT TO AN EXEMPTION TO SUCH ACT. 
  
 THE SALE OF THE SECURITIES WHICH ARE THE SUBJECT OF THIS WARRANT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA OR ANY OTHER
STATE AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION FOR SUCH SECURITIES PRIOR TO SUCH QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SUCH SECURITIES IS EXEMPT FROM QUALIFICATION BY SECTION 2511, 25102
OR 25105 OF THE CALIFORNIA CORPORATIONS CODE OR SUCH PROVISIONS OF THE CORPORATIONS CODE OF ANY SUCH OTHER STATE. THE RIGHTS OF THE HOLDER OF THIS WARRANT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO
EXEMPT. 
  
 Void after 
  
 _________ 
  
 WARRANT TO PURCHASE SHARES 
 OF PREFERRED STOCK 
  
 of

  
 SKINMEDICA, INC. 
  
 INCORPORATED UNDER THE LAWS OF THE STATE OF CALIFORNIA 
  
 THIS CERTIFIES THAT, for value received,
                    , together with its permitted successors and assigns (“Holder”) is entitled, subject to the terms
set forth below, to subscribe for and purchase shares of a series of Preferred Stock (the “Preferred Stock”) of SKINMEDICA, INC., a California corporation (the
“Company”), subject to adjustment as provided herein. This warrant and any warrant subsequently issued upon exchange or transfer hereof are hereinafter referred to collectively as the “Warrant.”

  
 This Warrant is subject to the following terms and conditions:

  
 1. Convertible Promissory Note and Warrant Purchase
Agreement. This Warrant is issued in connection with and subject to the terms and conditions of that certain Convertible Promissory Note and Warrant Purchase Agreement dated June 21, 2002 (the “Purchase Agreement”) by and
among the Company, Holder and the other parties thereto. Pursuant to the Purchase Agreement, the Company has also issued to Holder a convertible promissory note and 
  

 1 

 may from time to time issue additional promissory notes (each a “Note” and collectively, the
“Notes”). All capitalized terms used but not defined in this Warrant shall have the meanings ascribed thereto in the Purchase Agreement. 
  

2. Exercise of Warrant. The terms and conditions upon which this Warrant may be exercised, and the shares covered hereby may be purchased, are
as follows: 
  
 2.1 Term. Subject to the terms hereof,
this Warrant may be exercised at any time after the date hereof, or from time to time, in whole or in part; provided, however, that in no event may this Warrant be exercised (the “Exercise Date”) later than 5:00 p.m. (Pacific
Time) on the earlier of (a) the close of business on June 21, 2009, or (b) (i) the closing of the acquisition of the Company by another entity by means of a transaction or series of related transactions or (ii) the closing of the sale of all or
substantially all of the assets of the Company, unless the Company’s shareholders of record prior to such acquisition or sale shall hold at least fifty percent (50%) of the voting power of the acquiring or surviving entity immediately after
such acquisition or sale (the “Exercise Period”). At least ten (10) days prior to the occurrence of an event specified in (b) of this Section 2.1, the Company shall send to Holder notice of such event and that Holder’s
rights under this Warrant shall terminate upon the occurrence of such event; provided, that if the Company sends such notice less than ten (10) days prior to the occurrence of such event, Holder’s right to exercise this Warrant shall be
extended for a period of five (5) days after the date of the notice, after which time Holder’s rights under this Warrant shall terminate. 
  
 2.2 Number of New Equity Shares. This Warrant may be exercised for a number of New Equity Shares as set forth below: 
  
 2.2.1 Qualified Equity Financing. In the event the Company completes
a Qualified Equity Financing, as defined below, the number of New Equity Shares, as defined below, subject to this Warrant will be equal to the following: 
  

			
	 A =
	  	.2(B)
	 	  	     C

  
 Where: 
  

					
	 A
	  	=	  	The number of New Equity Shares that may be purchased by Holder pursuant to this Warrant.
			
	 B
	  	=	  	The original principal amount of all Notes held by Holder and issued pursuant the Purchase Agreement.
			
	 C
	  	=	  	The Exercise Price (as defined below) for the New Equity Shares.

  
 The
“Qualified Equity Financing” shall mean the next equity financing after the date hereof, in which the Company raises at least $5 million in gross proceeds, including conversion of the Notes issued pursuant to the Purchase
Agreement, and in which investors purchase shares of a series of the Company’s Preferred Stock. 
  

 2 

 The “New Equity Shares” shall mean the shares of the series of the Company’s
Preferred Stock sold by the Company in the Qualified Equity Financing; provided, that in the event a Qualified Equity Financing has not occurred by December 21, 2003, the “New Equity Shares” shall mean the
Company’s Series A Preferred Stock. 
  
 2.3 Exercise
Price. The “Exercise Price” shall be equal to the per share purchase price for the New Equity Shares sold by the Company, subject to adjustment as provided herein. 
  
 2.4 Method of Exercise. Subject to the terms and conditions contained
herein and while this Warrant remains outstanding and exercisable, this Warrant is exercisable with respect to any or all of the New Equity Shares, at the option of Holder, upon surrender of this Warrant to the Company together with (a) a duly
completed (i) Notice of Exercise, in the form attached hereto as Exhibit A, or (ii) Net Issue Election Notice, in the form attached hereto as Exhibit B and (b) payment of an amount equal to the Exercise Price multiplied by the number
of New Equity Shares with respect to which this Warrant is being exercised as provided in Section 2.5 below. If Holder exercises this Warrant with respect to less than all of the New Equity Shares represented by this Warrant, the Company shall
cancel this Warrant upon the surrender thereof and shall execute and deliver to Holder a new Warrant for the balance of such New Equity Shares. 
  
 2.5 Payment. Payment of the Exercise Price for the New Equity Shares with respect to which this Warrant is being exercised by Holder shall be made,
at the option of Holder, (a) by delivery of cash payable by wire transfer of immediately available funds, (b) by the delivery of a cashier’s check or certified check, (c) by net issue election as set forth in Section 2.6 below, or (d) by any
combination of (a) – (c). 
  
 2.6 Net Issue Election
The Holder may elect to receive, without payment by the Holder of any additional consideration, New Equity Shares equal to the value of the “spread” on the New Equity Shares or any portion thereof by the surrender of the Warrant to the
Company, together with a duly completed Net Issue Election Notice, in the form attached hereto as Exhibit B, at the principal office of the Company, in which event the Company shall issue to the Holder such number of New Equity Shares as is
computed using the following formula: 
  

			
	 X
	  	= Y (A – B)
	 	  	            A

  

					
	 Where:
	  	X =	  	The number of New Equity Shares to be issued to Holder pursuant to the net issue election;
			
	 	  	Y =	  	The number of New Equity Shares in respect of which the net issue election is made;
			
	 	  	A =	  	The fair market value (as determined below) of one New Equity Share at the time the net issue election is made;
			
	 	  	B =	  	The Exercise Price in effect under this Warrant as of the date of the net issue election.

  

 3 

 For purposes of this Section 2.6, the fair market value of one New Equity Share as of a particular date shall be as
determined in good faith by the Board of Directors of the Company. 
  
 3. Limit on Rights of the Holder upon Exercise. Holder acknowledges and agrees that upon the exercise of this Warrant in full or in part, the following provisions shall apply to the rights of Holder as a holder of New Equity Shares
and of Common Stock of the Company (“Common Stock”) that such New Equity Shares are convertible into. 
  
 3.1 Market Stand-Off Agreement. During the period of duration (not to exceed 180 days) specified by the Company and an underwriter of Common Stock
or other securities of the Company, following the effective date of a registration statement of the Company filed under the Act, Holder shall not, to the extent requested by the Company and such underwriter, directly or indirectly sell, offer to
sell, contract to sell (including, without limitation, any short sale), grant any option to purchase or otherwise transfer or dispose of (other than to transferees or donees who agree to be similarly bound) any securities of the Company held by it
at any time during such period except Common Stock included in such registration. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to the Common Stock of Holder (and the shares or securities
of every other person subject to the foregoing restriction) until the end of such period. This Section 3.1 shall survive any termination or the expiration of this Warrant. 
  
 4. Adjustment of Exercise Price and Number of Shares. The Exercise Price and the number and kind of New Equity Shares
purchasable upon the exercise of this Warrant shall be subject to adjustment from time to time upon the happening of certain events as follows: 
  
 4.1 Conversion of New Equity Shares into Common Stock. Upon conversion of all of the issued and outstanding shares of the Company’s Preferred
Stock into Common Stock, this Warrant shall be automatically exercisable only for such number of shares of Common Stock as Holder would have received had this Warrant been exercised in full for the New Equity Shares and then converted into Common
Stock on the date all issued and outstanding shares of the Company’s Preferred Stock converted into Common Stock. The Exercise Price in effect immediately prior to such conversion shall, concurrently with the effectiveness of such conversion,
be proportionally adjusted. Upon such conversion of the Preferred Stock into Common Stock, all references under this Warrant to New Equity Shares shall be deemed references to Common Stock. 
  
 4.2 Split, Subdivision or Combination. If the Company should at any
time or from time to time fix a record date for (a) the effectuation of a split or subdivision of the outstanding New Equity Shares or (b) the determination of the holders of New Equity Shares entitled to receive a dividend or other distribution
payable in additional New Equity Shares or other securities or rights convertible into, or entitling the holder thereof to receive directly or indirectly, additional New Equity Shares (hereinafter referred to as the “New Equity
Equivalents”), without payment of any consideration by such holder for the additional New Equity Shares or New Equity Equivalents, then, as of such record date (or the date of such distribution, split or subdivision if no record date is fixed),
the Exercise Price shall be appropriately decreased and the number of New Equity Shares which this Warrant is exercisable for, if any, shall be appropriately increased in proportion to such increase of outstanding shares. Notwithstanding the
foregoing, in any such case, the aggregate purchase price payable by Holder for the total number of New Equity Shares (as adjusted) shall remain the same. 
  

 4 

 4.3 Combination of Shares. If the number of New Equity Shares outstanding at any time after the
date hereof is decreased by a combination of the outstanding New Equity Shares, the Exercise Price shall be appropriately increased and the number of New Equity Shares for which this Warrant is exercisable, if any, shall be appropriately decreased
in proportion to such decrease in outstanding shares. Notwithstanding the foregoing, in any such case, the aggregate purchase price payable by Holder for the total number of New Equity Shares (as adjusted) shall remain the same. 
  
 4.4 Reclassification or Reorganization. If the New Equity Shares shall
be changed into the same or different number of shares of any class or classes of stock, whether by capital reorganization, reclassification or otherwise (other than a subdivision, conversion or combination of shares or stock dividend provided for
in Sections 4.1, 4.2 and 4.3 above), then and in each such event Holder shall be entitled to receive upon the exercise of this Warrant the kind and amount of shares of stock and other securities and property receivable upon such reorganization,
reclassification or other change, to which a holder of the number of New Equity Shares (or any shares of stock or other securities which may be) issuable upon the exercise of this Warrant would have received if this Warrant had been exercised
immediately prior to such reorganization, reclassification or other change, all subject to further adjustment as provided herein. At the request of Holder, this Warrant will thereupon be cancelled and upon its surrender to the Company, the Company
will execute and deliver at its expense a new Warrant reflecting the foregoing adjustment, but otherwise identical to the replaced Warrant. 
  
 4.5 Notice of Adjustments and Record Dates. The Company shall promptly notify Holder in writing of each adjustment or readjustment of the Exercise
Price hereunder and the number of New Equity Shares issuable upon the exercise of this Warrant. Such notice shall state the adjustment or readjustment and show in reasonable detail the facts on which that adjustment or readjustment is based. In the
event of any taking by the Company of a record of the holders of New Equity Shares for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution, the Company shall notify Holder in writing of such
record date at least twenty (20) days prior to the date specified therein. 
  
 4.6 Fractional Shares. No fractional shares shall be issued upon the exercise of this Warrant as a consequence of any adjustment pursuant hereto. All Equity Shares (including fractions) issuable upon exercise
of this Warrant may be aggregated for purposes of determining whether the exercise would result in the issuance of a fractional share. If, after aggregation, the exercise would result in the issuance of a fractional share, the Company shall, in lieu
of issuance of any fractional share, pay Holder otherwise entitled to such fraction a sum in cash equal to the product resulting from multiplying the then current fair market value of a New Equity Share by such fraction. 
  
 4.7 Issue Tax. The issuance of certificates for the New Equity Shares
upon exercise of this Warrant shall be made without charge to Holder for any issuance tax in respect thereof provided that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and
delivery of any certificate in a name other than that of Holder. 
  

 5 

 4.8 No Impairment. The Company shall not avoid or seek to avoid the observance or performance of
any of the terms to be observed or performed hereunder by the Company, but shall at all times in good faith assist in the carrying out of all the provisions of this Warrant. Without limiting the generality of the foregoing, the Company shall take
all such action as may be necessary or appropriate in order that all shares of New Equity Shares as may be issued pursuant to the exercise of this Warrant shall, upon issuance, be duly and validly issued, fully paid and nonassessable and free from
all taxes, liens and charges with respect to the issue thereof. 
  
 5. Replacement of Warrants. On receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of any such loss, theft or destruction of this
Warrant, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of any such mutilation, on surrender and cancellation of such Warrant, the Company at its expense shall execute and deliver to
Holder, in lieu thereof, a new Warrant of like tenor. 
  
 6. No
Rights or Liability as a Shareholder. This Warrant does not entitle Holder hereof to any voting rights or other rights as a shareholder of the Company. No provisions hereof, in the absence of affirmative action by Holder to purchase New Equity
Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise to any liability of Holder as a shareholder of the Company. 
  
 7. Miscellaneous. 
  
 7.1 Limitations on Disposition. 
  
 7.1.1 Holder, by acceptance hereof, agrees to comply in all respects with the provisions of this Section 7.1. Holder agrees not to make any disposition
of this Warrant or any New Equity Shares, unless and until the transferee has agreed in writing for the benefit of the Company to be bound by this Section 7.1 and the other provisions of this Warrant as if such transferee were the original Holder
hereof, provided and to the extent such provisions are then applicable, and: 
  
 7.1.2 There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with such registration statement; or 
  
 7.1.3 (A) Holder shall have notified the Company of the proposed disposition
and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and the Company has given its prior written consent, and (B) if requested by the Company, Holder shall have furnished the
Company with an opinion of counsel, satisfactory to the Company, that such disposition will not require registration of the Warrant and/or the New Equity Shares under the Act. It is agreed that the Company will not require opinions of counsel for
transactions made pursuant to Rule 144 except in unusual circumstances. 
  

 6 

 7.2 Notwithstanding the provisions of paragraphs 7.1.1, 7.1.2 and 7.1.3 above, (i) no such registration
statement, prior consent or opinion of counsel shall be necessary for a transfer (A) by Holder if Holder is a partnership to a partner of such partnership or a retired partner of such partnership who retires after the date hereof, or to the estate
of any such partner or retired partner or to the transfer by gift, will or intestate succession of any partner to his spouse or to the siblings, lineal descendants or ancestors of such partner or his spouse, or (B) to an “affiliate” of
Holder as that term is defined in Rule 405 promulgated by the Securities and Exchange Commission under the Act, including, without limitation, a family trust or other estate vehicle of Holder or a member of Holder’s immediate family, if the
transferee agrees in writing to be subject to the terms hereof to the same extent as if it were an original Holder hereunder, and (ii) no transferee shall be required, as a condition to any transfer of the Warrant or the New Equity Shares by Holder,
to agree to be bound by this Section 7.1, if the transferee is acquiring the Warrant and/or New Equity Shares pursuant to a Registration Statement under the Act or in a transaction made pursuant to Rule 144. Each new certificate evidencing the
Warrant and/or New Equity Shares so transferred shall bear the appropriate restrictive legends, except that such certificate shall not bear such restrictive legend if, in the opinion of counsel for the Company, such legend is not required in order
to establish or assist in compliance with any provisions of the Act or any applicable state securities laws. 
  
 8. Titles and Subtitles. The titles and subtitles used in this Warrant are for convenience only and are not to be considered in construing or
interpreting this Warrant. 
  
 9. Notices. Any notice
required or permitted under this Warrant shall be given in writing and in accordance with Section 7.5 of the Purchase Agreement (for purposes of which, the term “Investor” shall mean Holder hereunder), except as expressly provided in this
Warrant. 
  
 10. Attorneys’ Fees. If any action at law
or in equity is necessary to enforce or interpret the terms of this Warrant, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and disbursements in addition to any other relief to which such party may be entitled.

  
 11. Amendments and Waivers. This Warrant may be amended
and the observance of any other term of this Warrant may be waived (either generally or in a particular instance and either retroactively or prospectively), with the written consent of the Company and Holder. 
  
 12. Severability. If one or more provisions of this Warrant are held
to be unenforceable under applicable law, such provision shall be excluded from this Warrant and the balance of the Warrant shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms. 

 
 13. Governing Law. This Warrant shall be governed by and construed
and enforced in accordance with the laws of the State of California, without giving effect to its conflicts of laws principles. 
  
 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 
  

 7 

 This Warrant may be executed in one or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument. 
  

					
	Date:	 	 SKINMEDICA, INC.,
 a California
corporation

			
	 	 	By:	 	  

	 	 	 	 	Rex Bright, President and Chief
	 	 	 	 	Executive Officer
			
	 	 	 	 	Address: 5909 Sea Lion Place #H
	 	 	 	 	               Carlsbad, CA 92008

  

			
	ACKNOWLEDGED AND AGREED:
	
	  

		
	By:	 	  

	NAME:
	
	TITLE:
	
	Address:

  
 [SIGNATURE PAGE TO
WARRANT TO PURCHASE SHARES OF PREFERRED STOCK] 

 EXHIBIT A 
  

FORM OF NOTICE OF EXERCISE 
  
 The undersigned, the holder of the within Warrant, hereby irrevocably elects to exercise this Warrant for, and to purchase thereunder,
                     shares* of
                     Stock of SKINMEDICA, INC., a California corporation and herewith
makes payment of $                     therefor and requests that the certificates for such shares be issued in the name of, and delivered to,
                    , federal taxpayer identification number
                    , whose address is
                                        
                                        
                    . 
  
 In exercising this Warrant, the undersigned hereby confirms and acknowledges that the shares of
                     Stock are being acquired solely for the account of the undersigned and not as a nominee for any other party, and for
investment, and the undersigned will not offer, sell or otherwise dispose of any such shares of Common Stock except under circumstances that will not result in a violation of the Securities Act of 1933, as amended, or any state securities laws.

  
 Please issue a new Warrant for the unexercised portion of the
attached Warrant in the name of, and delivered to,                     , federal taxpayer identification number
                    , whose address is
                                        
                                        
                    . 
  
 Dated:                      
  

	
	  

	 (Signature must conform to name of holder

	 as specified on the face of the Warrant)

  
  

	*	Insert here the number of shares as to which the Warrant is being exercised. 

  

 

 A-1 

 EXHIBIT B 
  

FORM OF NET ISSUE ELECTION NOTICE 
  
 (To be signed only on net issue exercise of the Warrant) 
  
 The undersigned, the holder of the within Warrant, hereby irrevocably elects to exercise this Warrant with respect to
                     New Equity Shares (as defined in the attached Warrant) of SKINMEDICA,
INC., a California corporation, pursuant to the net issue election provisions set forth in Section 2.6 of the Warrant and requests that the certificates for the number of New Equity Shares issuable pursuant to said Section 2.6
after application of the net issue election formula to such New Equity Shares be issued in the name of, and delivered to,
                            , federal taxpayer identification number
                    , whose address is
                                        
                                        .

  
 In exercising this Warrant, the undersigned hereby confirms
and acknowledges that the New Equity Shares are being acquired solely for the account of the undersigned and not as a nominee for any other party, and for investment, and the undersigned will not offer, sell or otherwise dispose of any such New
Equity Shares except under circumstances that will not result in a violation of the Securities Act of 1933, as amended, or any state securities laws. 
  
 Please issue a new Warrant for the unexercised portion of the attached Warrant in the name of, and delivered to,
                            , federal taxpayer identification number
                    , whose address is
                                        
                                        .

  
 Dated:
                     
  

	
	  

	(Signature must conform to name of holder
	as specified on the face of the Warrant)

 Schedule to Exhibit 4.3: The form of warrant above was executed by the following entities on the dates listed, and is
void after the dates listed. 
  

					
	 Name

	  	Date Warrant
Executed

	  	Date after which
Warrant is Void

	 Hale Family Trust UTD 2/10/86
	  	June 21, 2002	  	June 21, 2009
			
	 UBSPaineWebber CND FBO N. Scott McBean
 Address: 1314 Pine Rd, Rosemont, PA 19101-1636
	  	August 26, 2002	  	August 26, 2009
			
	 William A. Roper, Jr. and Melanie A. Roper Trust UTD 10/18/01
	  	June 21, 2002	  	June 21, 2009
			
	 Garner Family Trust UTD 10/21/87 as restated 8/9/01
	  	June 21, 2002	  	June 21, 2009
			
	 Windamere III, LLC, a Delaware limited liability company
	  	June 21, 2002	  	June 21, 2009

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