Document:

Amendment No. 2 to the Third Amended and Restated Registration Rights Agreement

 Exhibit 4.4 
 AMENDMENT NO. 2 
 TO 

THIRD AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT 
 This Amendment No. 2 (this “Amendment”) to that certain Third Amended and Restated Registration Rights Agreement, dated as of August 31, 2010, by and among Mascoma Corporation,
a Delaware corporation (the “Corporation”), and the Investors and Key Stockholders named therein, as amended (the “Registration Rights Agreement”), is made as of June 1, 2011, by and among the Corporation,
Pinnacle Ventures, L.L.C., a Delaware limited liability company (“Pinnacle”), and the holders of Registrable Securities (as defined in the Registration Rights Agreement) listed on the signature pages hereto (“Rights
Holders”). 
 WHEREAS, in connection with the term loan facility to be entered into by and among the Corporation,
certain subsidiaries of the Corporation, and Pinnacle pursuant to the Amended and Restated Loan and Security Agreement, dated as of an even date herewith, and the warrant to purchase shares of the Corporation’s Common Stock to be issued to
Pinnacle pursuant to that certain Warrant Purchase Agreement, by and among the Corporation and Pinnacle, dated as of even date herewith, the Rights Holders desire to amend the Registration Rights Agreement as set forth in this Amendment; 

WHEREAS, Section 14 of the Registration Rights Agreement provides that the Corporation may not enter into an agreement with any
holder or prospective holder of any securities of the Corporation that would grant such holder the right to demand registration of shares of the Corporation’s capital stock, or to include such shares in a registration statement that would
reduce the number of shares includable by the Holders (as defined in the Registration Rights Agreement) without the consent of the Holders of at least a majority of Registrable Securities held by the Holders (the “Requisite
Holders”); 
 WHEREAS, Section 17(c) of the Registration Rights Agreement provides that the Registration Rights
Agreement may be amended with the written consent of the Corporation and the holders of at least a majority in interest of voting power of the then outstanding Registrable Securities issued (collectively, the “Requisite Rights
Holders,” and together with the Requisite Holders, the “Requisite Parties”); and 
 WHEREAS, the
Rights Holders party hereto hold a sufficient number of Registrable Securities to constitute the Requisite Parties. 
 NOW,
THEREFORE, in consideration of the premises and the mutual covenants contained in this Amendment and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 1. Certain Defined Terms. All capitalized terms used herein and not defined herein shall have the meanings given to
such terms in the Registration Rights Agreement, as amended hereby. 
 2. Amendment to Registration Rights Agreement.
(a) Section 1(e) of the Registration Rights Agreement is amended in relevant part to read as set forth below: 

 “(e) The term “Registrable Securities” means (1) the Common Stock
issuable upon conversion of Preferred Stock, (2) the Common Stock purchased by an Investor pursuant to Section 9(b) of the Third Amended and Restated Stockholders Agreement, dated of even date herewith (the “Stockholders
Agreement”), by and among the Corporation, the Investors and certain stockholders of the Corporation (or Common Stock for or into which New Securities (as therein defined) purchased by the Investor pursuant to such Section 9(b) may be
exercised or converted), (3) any Common Stock of the Corporation issued as a dividend or other distribution with respect to, or in exchange for or in replacement of, such Preferred Stock or Common Stock, (4) any Common Stock of the
Corporation issuable upon conversion, exercise or exchange of convertible securities, warrants, options or similar rights issued as a dividend or other distribution with respect to, or in exchange or in replacement of, such Preferred Stock or Common
Stock, (5) the Common Stock held by the Key Stockholders, (6) Common Stock issued or issuable under the Share Purchase Agreement, (7) Common Stock issued upon exercise of the warrant issued or issuable to SunOpta Inc., a Canadian
company (“SunOpta”) under the Share Purchase Agreement (the “SunOpta Warrant”), or (8) Common Stock issued or issuable to Pinnacle under a certain Warrant Purchase Agreement dated as of May
    , 2011 (the “Pinnacle Common Warrant”) by and among the Corporation and Pinnacle Ventures II Equity Holdings, L.L.C., a Delaware limited liability company; provided, however, that shares of Common Stock that
are Registrable Securities shall cease to be Registrable Securities (i) when such shares are eligible for sale pursuant to an effective registration statement under the Act or Rule 144 under the Act or (ii) upon a transfer of such shares
to a person or entity that is not entitled to the rights provided hereunder.” 
 (b) Section 2 of the Registration
Rights Agreement is amended in relevant part to read: “The foregoing notwithstanding, (a) the Corporation shall not be obligated to effect a registration pursuant to this Section 2 that would become effective less than six months
after the effective date of any prior registration effected by the Corporation pursuant to this Section 2; (b) the Corporation shall not be obligated to effect a registration pursuant to this Section 2 unless such registration would
include at least twenty percent (20%) of the aggregate of the shares of Common Stock issuable upon conversion of the outstanding shares of Preferred Stock and the shares of Common Stock issued to SunOpta under the Share Purchase Agreement and
upon exercise of the SunOpta Warrant and the aggregate price to the public of Registrable Securities to be included in such registration statement for the account of selling Holders is reasonably anticipated to exceed $5,000,000; (c) the
Corporation shall not be obligated to effect a registration pursuant to this Section 2 during the period starting with the date that is ninety (90) days prior to the Corporation’s estimated date of filing of, and ending on a date that
is one hundred eighty (180) days following the effective date of, a registration statement pertaining to an underwritten public offering of securities for the account of the Corporation, provided that (i) the Corporation delivers notice to
the Holders within 30 days of its receipt of the written request from the Holders, (ii) the Corporation is actively employing in good faith its best efforts to cause such registration statement to become effective and (iii) the
Corporation’s estimate of the date of filing such registration statement is made in good faith; (d) if the Corporation shall furnish to the Holders a certificate signed by the President of the Corporation stating that in the good faith
judgment of the Board of Directors it would be detrimental to the Corporation or its stockholders for a registration statement to be filed in the near future, then the Corporation’s obligation to use

  
 2 

 
its best efforts to file a registration statement shall be deferred for a period not to exceed three (3) months, provided, however, that the Corporation may not obtain a
deferral pursuant to this clause (d) more than once in any twelve (12) month period; (e) the Corporation may postpone a registration pursuant to this Section 2 for such period of time as may be required to permit the use of
regular audited year-end figures with supplemental short period figures for a period not exceeding three months, unless the Holders agree to bear the costs of any special audit required by the underwriters; and for all purposes of this
Section 2, shares of Preferred Stock or Common Stock held by Pinnacle (collectively, “Warrant Shares”) as a result of the exercise or conversion of (i) a certain warrant issued to Pinnacle by the Corporation on
October 6, 2006, (ii) a certain warrant issued to Pinnacle by the Corporation on February 5, 2008, or (iii) the Pinnacle Common Warrant shall not be considered Registrable Securities hereunder.” 

3. Governing Law. This Amendment shall be governed by, and construed and enforced in accordance with, the substantive laws of the
State of Delaware without regard to its principles of conflicts of laws. 
 4. Counterparts. This Amendment 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. 
 [Signature Page to Follow] 

  
 3 

 IN WITNESS WHEREOF, the undersigned parties have executed this Amendment No. 2 to Third
Amended and Restated Registration Rights Agreement as an instrument under seal as of the date first written above. 
  

					
	MASCOMA CORPORATION
		
	By:	 	 /s/ William J. Brady

		 	Name:	 	William J. Brady
		 	Title:	 	Chief Executive Officer

 Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement

 
			
	 PINNACLE VENTURES II-A, L.P.
 PINNACLE VENTURES II-B, L.P.
 PINNACLE VENTURES II-C, L.P.

PINNACLE VENTURES II-R, L.P.

		
	By:	 	 Pinnacle Ventures Management II, L.L.C.,
 Their general partner

		
	By:	 	  

	Name:	 	Robert N. Savoie
	Title:	 	Chief Financial Officer
	
	 PINNACLE VENTURES EQUITY FUND I AFFILIATES, L.P.
 PINNACLE VENTURES EQUITY FUND I, L.P.

	PINNACLE VENTURES EQUITY FUND I-O, L.P.
		
	By:	 	 Pinnacle Ventures Equity Management I, L.L.C.,
 Their general partner

		
	By:	 	  

	Name:	 	Robert N. Savoie
	Title:	 	Chief Financial Officer

 Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement

			
	DIAMOND ALTERNATIVE ENERGY, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	ATLAS VENTURE FUND VII, L.P.
	By:	 	 Atlas Venture Associates VII, L.P.,
 Its General Partner

	By:	 	 Atlas Venture Associates VII, Inc.,
 Its General Partner

		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	Barbara D. Rybeck

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	 BERSHAW & CO.
 C/O CITIBANK CANADA, SECURITIES CAGE

		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	 BLUESTEM GROWTH & INCOME FUND III, LLC
 By: Bluestem Capital Company, LLC

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 BLUESTEM SELECT OPPORTUNITIES FUND, LLC
 By: Bluestem Capital Company, LLC

		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	BOWEN BIO-ENERGY, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	BOWEN ENGINEERING CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	Bradley D. Spindler

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

					
	 BRANT INVESTMENTS LIMITED
 99480027

			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	
		 		 	c/s
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	
	
	 BRANT INVESTMENTS LIMITED
 99480072

			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	
		 		 	c/s
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	Brian J. Stater

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	Bruce A. Jamerson

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	CANACCORD GENUITY CORP.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	 CANACCORD GENUITY CORPORATION
 ITF PETER J CHANDLER AC# 139-264S-4 (RRSP)

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 CANACCORD GENUITY CORPORATION
 ITF PETER J CHANDLER AC# 139-264M-2

		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	CRM HOLDINGS, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	David Mann

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	 DAVID NODA AND KAY M. NISHIYAMA
 (as joint tenants with right of survivorship)

	
	  

	David Noda
	
	  

	Kay M. Nishiyama

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	Dean W. Rybeck

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	Eric Lemelson

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	FAGEN, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	FLAGSHIP VENTURES FUND 2004, L.P.
		
	By:	 	 its General Partner

Flagship Ventures General Partner LLC

		
	By:	 	 /s/ Noubar B. Afeyan

		 	Manager

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	GC ENTREPRENEURS FUND IV, L.P.
	By General Catalyst Partners IV, L.P.,
		 	its General Partner
	By General Catalyst GP IV, LLC,
		 	its General Partner
		
	By:	 	 /s/ William J. Fitzgerald

	Name:	 	William J. Fitzgerald
	Title:	 	Member and Chief Financial Officer
	
	GENERAL CATALYST GROUP IV, L.P.
	By General Catalyst Partners IV, L.P.,
		 	its General Partner
	By General Catalyst GP IV, LLC,
		 	its General Partner
		
	By:	 	 /s/ William J. Fitzgerald

	Name:	 	William J. Fitzgerald
	Title:	 	Member and Chief Financial Officer

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	GENERAL MOTORS VENTURES LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

 BLACKROCK INVESTMENT MANAGEMENT (UK) LIMITED, 

by its nominee, HARE & CO. 
  

			
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

					
	JAYVEE & CO. INVF0004002
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	
			
		 		 	c/s
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	
	
	JAYVEE & CO. INVF0013002
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	
			
		 		 	c/s
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

					
	JAYVEE & CO.
	on behalf of MACKENZIE FINANCIAL CORP.
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	
			
		 		 	c/s
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	KHOSLA VENTURES I, L.P.
		
	By:	 	Khosla Ventures Associates I, LLC, a Delaware limited liability company and general partner of Khosla Ventures I, LP
		
	By:	 	 VK Services, LLC, a Delaware limited
 liability company and manager of Khosla Ventures Associates I, LLC

		
	By:	 	 /s/ Vinod Khosla

	Name:	 	Vinod Khosla
	Title:	 	Member

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	KPCB HOLDINGS, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	Larry Hannah

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	LOWE’S LTD., L.P.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	MALAYSIAN LIFE SCIENCES CAPITAL FUND
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	MPC INVESTMENT LLC
		
	By:	 	 /s/ D.L. Whikehart

	Name:	 	D.L. Whikehart
	Title:	 	Director, Product Supply

 

 

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	PIPER JAFFRAY & CO.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	PURDUE RESEARCH FOUNDATION
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	R. Jeremy Grantham

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	 Robert L. Bowen

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	ROCH ENTERPRISES, L.P.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	Rod Fuller

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	STACK, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	SUNOPTA INC.
		
	By:	 	 /s/ Jeremy N. Kendall

	Name:	 	
	Title:	 	CHAIRMAN

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	Susan Williams

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	Terry L. Bowen

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	Todd Noffke

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	VANTAGEPOINT CLEANTECH PARTNERS, L.P.
	By:	 	 VantagePoint CleanTech Associates, L.L.C.,
 Its General Partner

		
	By:	 	  

	Name:	 	Alan E. Salzman
	Title:	 	Managing Member
	
	VPVP CLEANTECH HOLDINGS 2006, L.L.C.
	By:	 	 VantagePoint Venture Partners 2006 (Q), L.P.,
 Its Sole Member

	By:	 	 VantagePoint Venture Associates 2006, L.L.C.,
 Its Managing Member

		
	By:	 	  

	Name:	 	Alan E. Salzman
	Title:	 	Managing Member

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

	
	  

	Wendy Strub

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	WILDSTOIC LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

			
	WILSEY INVEST LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights Agreement 

 TRIMARK RESOURCES FUND 
 (formerly, TRIMARK CANADIAN RESOURCES FUND), 
 by its Manager, INVESCO TRIMARK LTD.

 (formerly AIM FUNDS MANAGEMENT INC.) 
  

					
	By:	 	  
	 	
	Name:	 	Theodor Heldman	 	
	Title:	 	VP & Chief Financial Officer, Funds	 	
			
		 		 	c/s
			
	By:	 	  
	 	
	Name:	 	David C. Warren	 	
	Title:	 	Chief Admin Officer, NA Retail	 	

  

Signature Page to Amendment No. 2 to Third A&R Registration Rights AgreementWarrant to purchase shares of Series A-1 preferred stock

 Exhibit 4.5 
 EXECUTION COPY 
 THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
OR ANY STATE SECURITIES LAWS. NO SALE OR DISPOSITION MAY BE EFFECTED WITHOUT (i) EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH
REGISTRATIONS ARE NOT REQUIRED, (iii) RECEIPT OF NO-ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 8 OF THIS WARRANT. 

MASCOMA CORPORATION 
 WARRANT TO PURCHASE PREFERRED STOCK 
 For value received and subject to the
provisions set forth in this warrant (this “Warrant”), PINNACLE VENTURES II EQUITY HOLDINGS, L.L.C. and its assigns are entitled to purchase from MASCOMA CORPORATION, a Delaware corporation (the
“Company”): 
  

			
	 Shares of Series A-1 Preferred Stock:
	 	162,500
		
	 Exercise Price:
	 	$1.00
		
	 Term of Warrant:
	 	See Section 2 below.
		
	 Warrant Date:
	 	October 6, 2006

 The number of Shares for which this Warrant is exercisable and the Exercise Price may be adjusted as specified in
Section 5. 
 1. Definitions. As used herein, capitalized terms not otherwise defined herein shall have the
meanings set forth in the introductory paragraph of this Warrant or the following meanings: 
 (a) “Applicable
Stock” means (i) the Company’s presently authorized series of preferred stock specified in the introductory paragraph of this Warrant, (ii) after the conversion of all of the outstanding shares of such series of preferred
stock into Common Stock, either automatically or by vote of the requisite holders thereof, the Company’s Common Stock, and (iii) upon any conversion, exchange, reclassification or change, any security into which the securities described in
clauses (i) or (ii) of this definition may be converted, exchanged, reclassified or otherwise changed. 
 (b)
“Common Stock” means the common stock of the Company. 
 (c) “Holder” means the
initial holder of this Warrant set forth in the first paragraph of this Warrant and any other person or entity which becomes a holder of this Warrant pursuant to the terms of this Warrant. 

(d) “Shares” means the shares of Applicable Stock of Company issuable upon exercise of this Warrant. 

 (e) “Warrant Date” means the date of this Warrant specified in the
introductory paragraph of this Warrant. 
 2. Term. The right to purchase Applicable Stock upon exercise hereof is
exercisable at any time and from time to time from the Warrant Date until the earliest to occur of: (a) the tenth anniversary of the Warrant Date, (b) three years after the effective date of the Company’s initial registered public
offering of the Company’s securities, or (c) the completion of (i) a consolidation or merger of the Company into or with any other entity or entities that results in the exchange of outstanding shares of the Company for securities or
other consideration issued or paid or caused to be issued or paid by any such entity or affiliate thereof (except a consolidation or merger into a wholly owned subsidiary or merger in which the Company is the surviving corporation and, in either
case, the holders of the Company’s voting stock outstanding immediately prior to the transaction constitute a majority of the holders of voting stock outstanding immediately following the transaction) or (ii) the sale or transfer by the
Company of all or substantially all its assets. 
 3. Payment and Exercise. 

(a) Methods of Exercise. The purchase right represented by this Warrant may be exercised by the Holder, in whole or in part and
from time to time, at the election of the Holder, by (a) the surrender of this Warrant (with the notice of exercise substantially in the form attached hereto as Exhibit A duly completed and executed) at the principal office of the Company and
by the payment to the Company, by check, or by wire transfer to an account designated by the Company of an amount equal to the then applicable Exercise Price multiplied by the number of Shares then being purchased (the “Aggregate Purchase
Price”); (b) if in connection with a registered public offering of the Company’s securities, the surrender of this Warrant (with the notice of exercise form attached hereto as Exhibit B duly completed and executed) at the
principal office of the Company together with notice of arrangements reasonably satisfactory to the Company for payment to the Company from the proceeds of the sale of shares to be sold by the Holder in such public offering of the Aggregate Purchase
Price; or (c) exercise of the “net issuance” right provided for in Section 3(b) hereof. The person or persons in whose name(s) any certificate(s) representing Shares of Applicable Stock shall be issuable upon exercise of this
Warrant shall be deemed to have become the holder(s) of record of, and shall be treated for all purposes as the record holder(s) of, the Shares represented thereby (and such Shares shall be deemed to have been issued) immediately prior to the close
of business on the date or dates upon which this Warrant is exercised. In the event of any exercise of the rights represented by this Warrant, certificates for the Shares so purchased shall be delivered to the Holder as soon as possible and in any
event within thirty (30) days after such exercise and, unless this Warrant has been fully exercised or expired, a new Warrant representing the portion of the Shares, if any, with respect to which this Warrant shall not then have been exercised
shall also be issued to the Holder as soon as possible and in any event within such thirty-day period; provided, however, that at such time as the Company is subject to the reporting requirements of the Securities Exchange Act of 1934, as amended,
if requested by the Holder, the Company shall cause its transfer agent to deliver the certificate representing Shares issued upon exercise of this Warrant to a broker or other person (as directed by the Holder exercising this Warrant) within the
time period required to settle any trade made by the Holder after exercise of this Warrant. 
 (b) Right to Convert Warrant
into Stock: Net Issuance. 
 (i) Net Issuance Right. In addition to and without limiting the rights of the Holder
under the terms of this Warrant, the Holder shall have the right to convert this Warrant or any portion thereof (the “Net Issuance Right”) into shares of Applicable Stock as provided in this Section 3(b) at any time or
from time to time during the term of this Warrant. Upon exercise of the Net Issuance Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to
the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable Applicable Stock as is determined according to the following formula: 

 

					
	X  =	 	 A-B
	 	
		 	Y	 	

  
 -2-

					
	 Where:
	 	X  =	 	the number of shares of Applicable Stock that shall be issued to Holder
			
		 	Y  =	 	the fair market value of one share of Applicable Stock
			
		 	A  =	 	the aggregate fair market value of the specified number of Converted Warrant Shares (i.e., the number of Converted Warrant Shares multiplied by the fair market
value of one Converted Warrant Share)
			
		 	B  =	 	the aggregate Exercise Price of the specified number of Converted Warrant Shares immediately prior to the exercise of the Net Issuance Right (i.e., the number of Converted
Warrant Shares multiplied by the Exercise Price)

 No fractional shares shall be issuable upon exercise of the Net Issuance Right, and, if the number of shares to be issued
determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as hereinafter defined).
For purposes of Section 10 of this Warrant, shares issued pursuant to the Net Issuance Right shall be treated as if they were issued upon the exercise of this Warrant. 
 (ii) Exercise of Net Issuance Right. The Net Issuance Right may be exercised by the Holder by the surrender of this Warrant at the principal office of the Company together with a written statement
(which may be in the form of Exhibit A or Exhibit B hereto) specifying that the Holder thereby intends to exercise the Net Issuance Right and indicating the number of shares subject to this Warrant which are being surrendered (referred to in
Section 3(b)(i) hereof as the Converted Warrant Shares) in exercise of the Net Issuance Right. Such conversion shall be effective upon receipt by the Company of this Warrant together with the aforesaid written statement, or on such later date
as is specified therein (the “Conversion Date”), and, at the election of the Holder, may be made contingent upon the closing of the sale of the Company’s Common Stock to the public in a public offering (a
“Public Offering”) pursuant to a Registration Statement under the Securities Act of 1933, amended (the “Act”). Certificates for the shares issuable upon exercise of the Net Issuance Right and, if
applicable, a new warrant evidencing the balance of the shares remaining subject to this Warrant, shall be issued as of the Conversion Date and shall be delivered to the Holder within thirty (30) days following the Conversion Date. 

(iii) Determination of Fair Market Value. For purposes of this Section 3(b), “fair market value” of a share of
Applicable Stock (which shall be Common Stock if the Applicable Stock has been converted into Common Stock) as of a particular date (the “Determination Date”) shall mean: 

(1) If the Net Issuance Right is exercised in connection with and contingent upon a Public Offering, and if the Company’s
Registration Statement relating to such Public Offering (“Registration Statement”) has been declared effective by the Securities and Exchange Commission, then the initial “price to the public” specified in the final
prospectus with respect to such offering. 
 (2) If the Net Issuance Right is not exercised in connection with and contingent
upon a Public Offering, then as follows: 
 (A) If traded on a securities exchange, then the fair market value
shall be the average of the closing prices of the Common Stock on such exchange over the five trading days immediately prior to the Determination Date; 
 (B) If traded on the Nasdaq Stock Market or other over-the-counter system, then the fair market value shall be the average of the closing bid prices of the Common Stock over the five trading days
immediately prior to the Determination Date; and 
 (C) If there is no public market, then fair market value
shall be determined in good faith by the Company’s Board of Directors. 

  
 -3-

 In making a determination under clauses (A) or (B) above, if on the Determination Date, five
trading days have not passed since the Company’s initial Public Offering then the fair market value of the Common Stock shall be the average closing prices or closing bid prices, as applicable, for the shorter period beginning on and including
the date of the initial Public Offering and ending on the trading day prior to the Determination Date (or if such period includes only one trading day the closing price or closing bid price, as applicable, for such trading day). If closing prices or
closing bid prices are no longer reported by a securities exchange or other trading system, the closing price or closing bid price shall be that which is reported by such securities exchange or other trading system at 4:00 p.m. New York City time on
the applicable trading day. 
 (c) Exercise Prior to Expiration. To the extent this Warrant is not previously exercised
as to all of the Shares subject hereto, and if the fair market value of one share of the Applicable Stock is greater than the Exercise Price then in effect, this Warrant shall be deemed automatically exercised pursuant to Section 3(b) (even if
not surrendered) immediately before its expiration, including but not limited to expiration pursuant to Section 2. For purposes of such automatic exercise, the fair market value of one share of the Applicable Stock upon such expiration shall be
determined pursuant to Section 3(b)(iii). To the extent this Warrant or any portion thereof is deemed automatically exercised pursuant to this Section 3(c), the Company agrees to promptly notify the Holder of the number of Shares, if any,
the Holder is to receive by reason of such automatic exercise. 
 4. Stock Fully Paid; Reservation of Shares. All Shares
that may be issued upon the exercise of the rights represented by this Warrant will, upon issuance pursuant to the terms and conditions herein, be fully paid and nonassessable, and free from all preemptive rights and taxes, liens and charges with
respect to the issuance thereof. During the period within which the rights represented by this Warrant may be exercised, the Company will at all times have authorized, and reserved for the purpose of the issue upon exercise of the purchase rights
evidenced by this Warrant, a sufficient number of shares of its Applicable Stock to provide for the exercise of the rights represented by this Warrant and, while the Applicable Stock is convertible preferred stock, a sufficient number of shares of
its Common Stock to provide for the conversion of the Applicable Stock into Common Stock. 
 5. Adjustment of Exercise Price
and Number of Shares. The number and kind of securities purchasable upon the exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time upon the occurrence of certain events, as follows: 

(a) Reclassification or Merger. In case of any reclassification or change of securities of the class issuable upon exercise of
this Warrant (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination), the Company shall duly execute and deliver to the Holder a new Warrant (in form
and substance satisfactory to the Holder), or the Company shall make appropriate provision without the issuance of a new Warrant, so that the Holder shall have the right to receive upon exercise of this Warrant, at a total purchase price not to
exceed that payable upon the exercise of the unexercised portion of this Warrant, and in lieu of the shares of Applicable Stock theretofore issuable upon exercise of this Warrant, the kind and amount of shares of stock, other securities, money and
property receivable upon such reclassification or change by a holder of the number of shares of Applicable Stock then purchasable under this Warrant. The provisions of this Section 5(a) shall similarly apply to successive reclassifications and
changes. 
 (b) Subdivision or Combination of Shares. If the Company at any time while this Warrant remains outstanding
and unexpired shall subdivide or combine its outstanding shares of Applicable Stock, the Exercise Price shall be proportionately decreased and the number of Shares issuable hereunder shall be proportionately increased in the case of a subdivision
and the Exercise Price shall be proportionately increased and the number of Shares issuable hereunder shall be proportionately decreased in the case of a combination. 
 (c) Stock Dividends and Other Distributions. If the Company at any time while this Warrant is outstanding and unexpired shall (i) pay a dividend with respect to Applicable Stock payable in
Applicable Stock, then the Exercise Price shall be adjusted, from and after the date of determination of shareholders 

  
 -4-

 
entitled to receive such dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately prior to such date of determination by a fraction (A) the
numerator of which shall be the total number of shares of Applicable Stock outstanding immediately prior to such dividend or distribution, and (B) the denominator of which shall be the total number of shares of Applicable Stock outstanding
immediately after such dividend or distribution; or (ii) make any other distribution with respect to Applicable Stock (except any distribution specifically provided for in Sections 5(a) and 5(b)), then, in each such case, provision shall be
made by the Company such that the Holder shall receive upon exercise of this Warrant a proportionate share of any such dividend or distribution as though it were the holder of the Applicable Stock as of the record date fixed for the determination of
the shareholders of the Company entitled to receive such dividend or distribution. 
 (d) Adjustment of Number of Shares.
Upon each adjustment in the Exercise Price, the number of Shares of Applicable Stock purchasable hereunder shall be adjusted, to the nearest whole share, to the product obtained by multiplying the number of Shares purchasable immediately prior to
such adjustment in the Exercise Price by a fraction, the numerator of which shall be the Exercise Price immediately prior to such adjustment and the denominator of which shall be the Exercise Price immediately thereafter. 

(e) Antidilution Rights. The other antidilution rights applicable to the Shares of Applicable Stock purchasable hereunder are set
forth in the Company’s Certificate of Incorporation, as amended through the Warrant Date, a true and complete copy of which is attached hereto as Exhibit C (the “Charter”). The Company shall promptly provide the Holder
with any restatement, amendment, modification or waiver of the Charter promptly after the same has been made. 
 6. Notice of
Adjustments. Whenever the Exercise Price or the number of Shares purchasable hereunder shall be adjusted pursuant to Section 5 hereof, the Company shall make a certificate signed by its chief financial officer setting forth, in reasonable
detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was calculated, and the Exercise Price and the number of Shares purchasable hereunder after giving effect to such adjustment, and shall
cause copies of such certificate to be delivered to the Holder. In addition, whenever the conversion price or conversion ratio of the Applicable Stock shall be adjusted, the Company shall make a certificate signed by its chief financial officer
setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was calculated, and the conversion price or ratio of the Applicable Stock after giving effect to such
adjustment, and shall cause copies of such certificate to be delivered to the Holder. 
 7. Fractional Shares. No
fractional shares of Applicable Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Applicable Stock on the date
of exercise as reasonably determined in good faith by the Company’s Board of Directors. 
 8. Compliance with Act;
Disposition of Warrant or Shares of Applicable Stock. 
 (a) Compliance with Act. The Holder, by acceptance hereof,
agrees that this Warrant, and the shares of Applicable Stock to be issued upon exercise hereof and any Common Stock issued upon conversion thereof are being acquired for investment and that the Holder will not offer, sell or otherwise dispose of
this Warrant, or any shares of Applicable Stock to be issued upon exercise hereof or any Common Stock issued upon conversion thereof except under circumstances which will not result in a violation of the Act or any applicable state securities laws.
Upon exercise of this Warrant, unless the Shares being acquired are registered under the Act and any applicable state securities laws or an exemption from such registration is available, the Holder shall confirm in writing that the shares of
Applicable Stock so purchased (and any shares of Common Stock issued upon conversion thereof) are being acquired for investment and not with a view toward distribution or resale in violation of the Act and shall confirm such other matters related
thereto as may be reasonably requested by the Company. This Warrant and all shares of Applicable Stock issued upon exercise of this Warrant (unless registered under the Act and any applicable state securities laws) shall be stamped or imprinted with
a legend in substantially the following form: 

  
 -5-

 “THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR ANY STATE SECURITIES LAWS. NO SALE OR DISPOSITION MAY BE EFFECTED WITHOUT (i) EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH
REGISTRATIONS ARE NOT REQUIRED, (iii) RECEIPT OF NO-ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 8 OF THE WARRANT UNDER WHICH THESE SECURITIES WERE ISSUED DIRECTLY
OR INDIRECTLY.” 
 Said legend shall be removed by the Company, upon the request of the Holder, at such time as the restrictions on the
transfer of the applicable security shall have terminated. 
 (b) Disposition of Warrant or Shares. With respect to any
offer, sale or other disposition of this Warrant or any shares of Applicable Stock acquired pursuant to the exercise of this Warrant prior to registration of such Warrant or shares, the Holder agrees to give written notice to the Company prior
thereto, describing briefly the manner thereof, together with a written opinion of counsel, if requested by the Company, or other evidence, if reasonably satisfactory to the Company, to the effect that such offer, sale or other disposition may be
effected without registration or qualification (under the Act as then in effect or any federal or state securities law then in effect) of this Warrant or such shares of Applicable Stock and indicating whether or not under the Act certificates for
this Warrant or such shares of Applicable Stock to be sold or otherwise disposed of require any restrictive legend as to applicable restrictions on transferability in order to ensure compliance with such law. Upon receiving such written notice and
reasonably satisfactory opinion or other evidence, the Company shall have the right to consent to such transfer, which shall not be unreasonably withheld (except with respect to any transfer to any affiliate of the Holder, in which case no consent
shall be required) (any such transfer as to which no consent is required or consent has beed granted, a “Permitted Transfer”), and shall, as promptly as practicable but no later than fifteen (15) days after receipt of
the written notice, shall notify the Holder whether the Holder may sell or otherwise dispose of this Warrant or such shares of Applicable Stock, all in accordance with the terms of the notice delivered to the Company. If a determination has been
made pursuant to this Section 8(b) that the opinion of counsel or other evidence is not reasonably satisfactory to the Company, the Company shall so notify the Holder promptly with details thereof after such determination has been made.
Notwithstanding the foregoing, but subject to the right of the Company to consent, if applicable, this Warrant or such shares of Applicable Stock may, as to such federal laws, be offered, sold or otherwise disposed of in accordance with Rule 144 or
144A under the Act, provided that the Company shall have been furnished with such information as the Company may reasonably request to provide a reasonable assurance that the provisions of Rule 144 or 144A have been satisfied. Each certificate
representing this Warrant or the shares of Applicable Stock thus transferred (except a transfer pursuant to Rule 144 or 144A) shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance with such laws,
unless in the aforesaid opinion of counsel for the Holder, such legend is not required in order to ensure compliance with such laws. The Company may issue stop transfer instructions to its transfer agent in connection with such restrictions.

 (c) Applicability of Restrictions. Neither any restrictions of any legend described in this Warrant nor the
requirements of Section 8(b) above shall apply to any transfer of, or grant of a security interest in, this Warrant (or the Applicable Stock or Common Stock obtainable upon exercise thereof) or any part hereof (i) to a partner of the
Holder if the Holder is a partnership or to a member of or other holder of an interest in the Holder if the Holder is a limited liability company, (ii) to a partnership of which the Holder is a partner or to a limited liability company of which
the Holder is a member or other holder of an interest, or (iii) to any affiliate of the Holder if the Holder is a corporation; provided, however, in any such transfer, if applicable, the transferee shall on the Company’s
request agree in writing to be bound by the terms of this Warrant as if an original holder hereof. 
 9. Rights as
Shareholders; Information. No Holder, as a holder of this Warrant, shall be entitled to vote or receive dividends or be deemed the holder of Applicable Stock or any other securities of the Company which may at any time be issuable upon the
exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon the Holder, as such, any of the rights of a shareholder of the Company or 

  
 -6-

 
any right to vote for the election of directors or upon any matter submitted to shareholders at any meeting thereof, or to receive dividends or subscription rights or otherwise until this Warrant
shall have been exercised and the Shares purchasable upon the exercise hereof shall have become deliverable, as provided herein. Notwithstanding the foregoing, the Company will transmit to the Holder such information, documents and reports as are
generally distributed to the holders of any class or series of the securities of the Company concurrently with the distribution thereof to the shareholders. 
 10. Registration Rights. In connection with the closing of its next round of equity financing, the Company shall amend that certain Registration Rights Agreement dated as March 10, 2006,
amended on May 12, 2006 and September 21, 2006, (the “Investor Rights Agreement”) to grant registration rights to the Holder for any Applicable Stock of the Company (after its conversion to Common Stock) obtained
upon exercise of this Warrant, comparable to the registration rights granted to the investors in the Investor Rights Agreement, with the following exceptions and clarifications: 

(1) The Holder will have not have the right to demand registration (other than a registration on Form S-3 or any successor form), but
can otherwise participate in any registration demanded by others. 
 (2) The Holder will be subject to the same provisions
regarding indemnification as contained in the Investor Rights Agreement. 
 (3) The registration rights are freely assignable
by the Holder in connection with a Permitted Transfer of this Warrant or the Shares. 
 (4) Any underwriter’s “cut
back” shall first apply to the rights of the Holder with respect to shares issued upon the exercise of this Warrant and then to the rights of other holders of the Company’s preferred stock (including the Holder with respect to any shares
of preferred stock held other than as a result of the exercise of this Warrant). 
 11. Notice Rights. 

(a) Acquisition Transactions. The Company shall provide the Holder with at least ten (10) days’ written notice prior to
closing thereof of the terms and conditions of any of the following transactions (to the extent the Company has notice thereof): (i) the sale, lease, exchange, conveyance or other disposition of all or substantially all of the Company’s
property or business, or (ii) its merger into or consolidation with any other corporation (other than a wholly-owned subsidiary of the Company), or any transaction (including a merger or other reorganization) or series of related transactions,
in which more than 50% of the voting power of the Company is disposed of. 
 (b) Dividends and Repurchases. The Company
shall provide the Holder with at least ten (10) days notice prior to the record date of any cash dividend with respect to or offer to repurchase the Applicable Stock. 
 (c) Liquidation. The Company shall provide the Holder with at least ten (10) days notice prior to any voluntary or involuntary dissolutions, liquidation or winding-up of the Company.

 12. Representations and Warranties. The Company represents and warrants to the Holder as follows: 

(a) This Warrant has been duly authorized and executed by the Company and is a valid and binding obligation of the Company enforceable in
accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors and the rules of law or principles at equity governing specific performance, injunctive relief and other equitable
remedies. 

  
 -7-

 (b) The Shares have been duly authorized and reserved for issuance by the Company and, when
issued in accordance with the terms hereof, will be validly issued, fully paid and nonassessable and free from preemptive rights. 
 (c) The rights, preferences, privileges and restrictions granted to or imposed upon the Applicable Stock and the holders thereof are as set forth in the Charter, and on the Warrant Date, each share of the
Applicable Stock represented by this Warrant is convertible into one share of Common Stock. 
 (d) The shares of Common Stock
issuable upon conversion of the Shares have been duly authorized and reserved for issuance by the Company and, when issued in accordance with the terms of the Charter will be validly issued, fully paid and nonassessable. 

(e) The execution and delivery of this Warrant are not, and the issuance of the Shares upon exercise of this Warrant in accordance with
the terms hereof will not be, inconsistent with the Company’s Charter or by-laws, do not and will not contravene any law, governmental rule or regulation, judgment or order applicable to the Company, and do not and will not conflict with or
contravene any provision of, or constitute a default under, any indenture, mortgage, contract or other instrument of which the Company is a party or by which it is bound or require the consent or approval of, the giving of notice to, the
registration or filing with or the taking of any action in respect of or by, any Federal, state or local government authority or agency or other person, except for the filing of notices pursuant to federal and state securities laws, which filings
will be effected by the time required thereby. 
 (f) There are no actions, suits, audits, investigations or proceedings pending
or, to the knowledge of the Company, threatened against the Company in any court or before any governmental commission, board or authority which, if adversely determined, could have a material adverse effect on the ability of the Company to perform
its obligations under this Warrant. 
 (g) The number of shares of Common Stock of the Company outstanding on the date hereof,
on a fully diluted basis (assuming the conversion of all outstanding convertible securities and the exercise of all outstanding options and warrants), does not exceed 15 million shares. 

13. Modification and Waiver. This Warrant and any provision hereof may be changed, waived, discharged or terminated only by an
instrument in writing signed by the party against which enforcement of the same is sought. 
 14. Notices. Any notice,
request, communication or other document required or permitted to be given or delivered to the Holder or the Company shall be delivered, or shall be sent by certified or registered mail, postage prepaid, or overnight courier or delivered personally
to the Holder at its address as shown on the books of the Company or to the Company at the address indicated therefor on the signature page of this Warrant. 
 15. Binding Effect on Successors. This Warrant shall be binding upon any corporation succeeding the Company by merger, consolidation or acquisition of all or substantially all of the Company’s
assets, and all of the obligations of the Company relating to the Applicable Stock issuable upon the exercise or conversion of this Warrant shall survive the exercise, conversion and termination of this Warrant and all of the covenants and
agreements of the Company shall inure to the benefit of the successors and assigns of the Holder. 
 16. Lost Warrants or
Stock Certificates. The Company covenants to the Holder that, upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant or any stock certificate and, in the case of any such
loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory to the Company, or in the case of any such mutilation upon surrender and cancellation of such Warrant or stock certificate, the Company will make and deliver a new
Warrant or stock certificate, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant or stock certificate. 

  
 -8-

 17. Descriptive Headings. The descriptive headings of the various Sections of this
Warrant are inserted for convenience only and do not constitute a part of this Warrant. The language in this Warrant shall be construed as to its fair meaning without regard to which party drafted this Warrant. 

18. Governing Law. This Warrant shall be construed and enforced in accordance with, and the rights of the parties shall be
governed by, the laws of the State of California. 
 19. Survival of Representations, Warranties and Agreements.
All representations and warranties of the Company and the Holder contained herein shall survive the Warrant Date, the exercise or conversion of this Warrant (or any part hereof) or the termination or expiration of rights hereunder. All agreements of
the Company and the Holder contained herein shall survive indefinitely until, by their respective terms, they are no longer operative. 
 20. Remedies. In case any one or more of the covenants and agreements contained in this Warrant shall have been breached, the Holder (in the case of a breach by the Company), or the Company (in the
case of a breach by the Holder), may proceed to protect and enforce their or its rights either by suit in equity and/or by action at law, including, but not limited to, an action for damages as a result of any such breach and/or an action for
specific performance of any such covenant or agreement contained in this Warrant. 
 21. No Impairment of Rights. The
Company will not, by amendment of its Charter or through any other means, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and
in the taking of all such action as may be necessary or appropriate in order to protect the rights of the Holder against impairment. 
 22. Severability. The invalidity or unenforceability of any provision of this Warrant in any jurisdiction shall not affect the validity or enforceability of such provision in any other
jurisdiction, or affect any other provision of this Warrant, which shall remain in full force and effect. 
 23. Recovery of
Litigation Costs. If any legal action or other proceeding is brought for the enforcement of this Warrant, or because of an alleged dispute, breach, default, or misrepresentation in connection with any of the provisions of this Warrant, the
successful or prevailing party or parties shall be entitled to recover reasonable attorneys’ fees and other costs incurred in that action or proceeding, in addition to any other relief to which it or they may be entitled. 

24. Entire Agreement; Modification. This Warrant constitutes the entire agreement between the parties pertaining to the subject
matter contained in it and supersedes all prior and contemporaneous agreements, representations, and undertakings of the parties, whether oral or written, with respect to such subject matter. 

  
 -9-

 The Company has caused this Warrant to be duly executed and delivered as of the Warrant Date
specified above. 
  

			
	MASCOMA CORPORATION
		
	By	 	 /s/ COLIN R SOUTH

		 	COLIN R SOUTH
	Title	 	 PRESIDENT

			
		
	Address:	 	Mascoma Corporation
		 	 161 First Street, Second Floor East
 Cambridge, MA 02142

  
 -10-

 EXECUTION COPY 
 EXHIBIT A 
 NOTICE OF EXERCISE 

 

	To:	MASCOMA CORPORATION (the “Company”) 

 1. The undersigned hereby: 
  

	 	 ̈	elects to purchase shares                  of [Applicable Stock] [Common Stock] of the
Company pursuant to the terms of the attached Warrant, and tenders herewith payment of the purchase price of such shares in full, or 

  

	 	 ̈	elects to exercise its net issuance rights pursuant to Section 3(b) of the attached Warrant with respect to
                 Shares of [Applicable Stock] [Common Stock]. 

 2. Please issue a certificate or certificates representing                  shares in the name of the undersigned or in such
other name or names as are specified below: 
  

					
		  	  
	  	
		  	(Name)	  	
			
		  	  
	  	
			
		  	  
	  	
		  	(Address)	  	

 3. The undersigned represents that the aforesaid shares are being acquired for the account of the
undersigned for investment and not with a view to, or for resale in connection with, the distribution thereof and that the undersigned has no present intention of distributing or reselling such shares, all except as in compliance with applicable
securities laws. 
  

	
	  
	(Signature)

  

	
	  
	(Date)

 EXHIBIT B 
 NOTICE OF EXERCISE 
  

	To:	MASCOMA CORPORATION (the “Company”) 

 1. Contingent upon and effective immediately prior to the closing (the “Closing”) of the Company’s public offering contemplated by the Registration Statement on Form
S    , filed                     , 200    , the undersigned hereby: 

 ̈ elects to purchase
                 shares of [Applicable Stock] [Common Stock] of the Company (or such lesser number of shares as may be sold on behalf of the undersigned at the Closing)
pursuant to the terms of the attached Warrant, or 
  ̈ elects to exercise its
net issuance rights pursuant to Section 3(b) of the attached Warrant with respect to                  Shares of [Applicable Stock] [Common Stock]. 

2. Please deliver to the custodian for the selling shareholders a stock certificate representing such
                 shares. 
 3. The undersigned
has instructed the custodian for the selling shareholders to deliver to the Company $                 or, if less, the net proceeds due the undersigned from the sale of
shares in the aforesaid public offering. If such net proceeds are less than the purchase price for such shares, the undersigned agrees to deliver the difference to the Company prior to the Closing. 

 

	
	  
	(Signature)

  

	
	  
	(Date)

 EXHIBIT C 
 CHARTER

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