Document:

Exhibit 10.7

 

Execution Version

 

CONFIDENTIALITY AND LOCKUP AGREEMENT

 

This Confidentiality and Lockup Agreement is dated as of August 26, 2020 and is between Trine Acquisition Corp., a Delaware corporation (“Trine”), and each of the stockholder parties identified on Exhibit A hereto and the other persons who enter into a joinder to this Agreement substantially in the form of Exhibit B hereto with the Company in order to become a “Stockholder Party” for purposes of this Agreement (collectively, the “Stockholder Parties”).  Capitalized terms used but not defined herein shall have the meanings assigned to them in the Stockholders Agreement (as defined below).

 

BACKGROUND:

 

WHEREAS, the Stockholder Parties own or will own equity interests in Desktop Metal, Inc., a Delaware corporation (“Legacy DM”), and/or Trine;

 

WHEREAS, pursuant to that certain Agreement and Plan of Merger, dated as of August 26, 2020 (the “Merger Agreement”), Sparrow Merger Sub, a Delaware corporation and a direct, wholly owned subsidiary of Trine, will merge (the “Merger”) with and into Legacy DM, with Legacy DM surviving the Merger as a wholly owned subsidiary of Trine;

 

WHEREAS, immediately following the Merger, Trine will change its name to “Desktop Metal, Inc.” and, concurrently, Legacy DM will be renamed; and

 

WHEREAS, Trine Sponsor IH, LLC, a Delaware limited liability company (“Sponsor”) and a party hereto, is also executing the Stockholders Agreement on the date hereof; and

 

WHEREAS, in connection with the Merger and effective upon the consummation thereof, the parties hereto wish to set forth herein certain understandings between such parties with respect to confidentiality and restrictions on transfer of equity interests in Trine.

 

NOW, THEREFORE, the parties agree as follows:

 

ARTICLE I
 INTRODUCTORY MATTERS

 

1.1                               Defined Terms.  In addition to the terms defined elsewhere herein, the following terms have the following meanings when used herein with initial capital letters:

 

“Action” has the meaning set forth in Section 4.8.

 

“Agreement” means this Confidentiality and Lockup Agreement, as the same may be amended, supplemented, restated or otherwise modified from time to time in accordance with the terms hereof.

 

“Common Stock” means the Class A common stock, par value $0.0001 per share, of the Company, following the consummation of the Merger.

 

“Company” means Desktop Metal Inc., following the consummation of the Merger.

 

 

“Confidential Information” means any information concerning the Company or its Subsidiaries that is furnished after the date of this Agreement by or on behalf of the Company or its designated representatives to a Stockholder Party or its designated representatives, together with any notes, analyses, reports, models, compilations, studies, documents, records or extracts thereof containing, based upon or derived from such information, in whole or in part; provided, however, that Confidential Information does not include information:

 

(i)                                     that is generally known to the public at the time of disclosure or becomes generally known without violation of this Agreement by the receiving Stockholder Party or its designated representatives;

 

(ii)                                  that is in the Stockholder Party’s possession or the possession of the Stockholder Party’s representatives at the time of disclosure otherwise than as a result of Stockholder Party’s or its designated representatives’ breach of any legal or fiduciary obligation of confidentiality;

 

(iii)                               that becomes known to the receiving Stockholder Party or its designated representatives through disclosure by sources, other than the Company, having the legal right to disclose such Confidential Information;

 

(iv)                              that is independently developed by the receiving Stockholder Party or its designated representatives who have not directly or indirectly had access to the Confidential Information, as is clearly provable by competent evidence in their possession; or

 

(v)                                 that the receiving Stockholder Party or its designated representatives is required, in the good faith determination of such receiving Stockholder Party or designated representative, to disclose by applicable Law, regulation or legal process, provided that such receiving Stockholder Party or designated representative takes reasonable steps to minimize the extent of any such required disclosure, discloses only that portion of the Confidential Information that such Stockholder Party’s legal counsel advises is legally required to be disclosed, and provides the Company with the opportunity to seek a protective order or other appropriate remedy to prevent such disclosure, provided further that no such steps to minimize disclosure shall be required where disclosure is made in connection with a routine audit or examination by a bank examiner or auditor and such audit or examination does not specifically reference the Company or this Agreement.

 

“covered shares” has the meaning set forth in Section 3.1.

 

“designated representatives” has the meaning set forth in the Stockholders Agreement.

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, as the same may be amended from time to time.

 

“immediate family” has the meaning set forth in Section 3.1(b).

 

“Legacy DM” has the meaning set forth in the Background.

 

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“Lock-Up Period” has the meaning set forth in Section 3.1(a).

 

“Non-Recourse Party” means any past, present or future director, officer, employee, incorporator, member, partner, stockholder, Affiliate, agent, attorney, advisor or representative or Affiliate of any named party to this Agreement and any past, present or future director, officer, employee, incorporator, member, partner, stockholder, Affiliate, agent, attorney, advisor or representative or Affiliate of any of the foregoing.

 

“Permitted Transferees” means with respect to a Stockholder Party, a Transferee of shares that agrees to become party to, and to be bound to the same extent as its Transferor by the terms of, this Agreement.

 

“shares” means shares of Common Stock held by Sponsor immediately following the Merger and the shares of Common Stock received by the other Stockholder Parties pursuant to the Merger Agreement.

 

“Sponsor” means Trine Sponsor 1H, LLC, a Delaware limited liability company.

 

“Sponsor Designee” has the meaning set forth in the Stockholders Agreement.

 

“Stockholder Parties” has the meaning set forth in the Preamble.

 

“Stockholders Agreement” means the Stockholders Agreement, dated as of August 26, 2020, by and among Trine and Sponsor.

 

1.2                               Construction.  The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rule of strict construction will be applied against any party.  Unless the context otherwise requires: (a) “or” is disjunctive but not exclusive, (b) words in the singular include the plural, and in the plural include the singular, and (c) the words “hereof”, “herein”, and “hereunder” and words of similar import when used in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section references are to sections of this Agreement unless otherwise specified.

 

ARTICLE II
 CONFIDENTIALITY

 

2.1                               Confidentiality.  Each Stockholder Party agrees that it will, and will direct its designated representatives to, keep confidential and not disclose any Confidential Information; provided, however, that each Stockholder Party and its designated representatives may disclose Confidential Information (a) to Sponsor and the Sponsor Designee, (b) to its designated representatives and (c) as the Company may otherwise consent in writing; provided, further, however, that each Stockholder Party agrees to be responsible for any breaches of this Article II by such Stockholder Party’s designated representatives and agrees, at its sole expense, to take all reasonable measures (including, but not limited to, court proceedings) to restrain its designated representatives from prohibited or unauthorized disclosure of the Confidential Information.

 

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ARTICLE III
 LOCKUP

 

3.1                               Lockup.  (a) During the period beginning on the effective time of the Merger and continuing to and including the date that is 180 days after the Closing Date (in each case, the “Lock-Up Period”), each Stockholder Party agrees not to, directly or indirectly, offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or otherwise dispose of any shares, or any options or warrants to purchase any shares, or any securities convertible into, exchangeable for or that represent the right to receive shares, or any interest in any of the foregoing, whether now owned or hereinafter acquired, owned directly by the undersigned (including holding as a custodian) or with respect to which the undersigned has beneficial ownership within the rules and regulations of the U.S. Securities and Exchange Commission (collectively, the “covered shares”).  The foregoing restriction is expressly agreed to preclude such Stockholder Parties from engaging in any hedging or other transaction which is designed to or which reasonably could be expected to lead to or result in a sale or disposition of the covered shares even if such covered shares would be disposed of by someone other than such Stockholder Parties.  Such prohibited hedging or other transactions would include, without limitation, any short sale or any purchase, sale or grant of any right (including, without limitation, any put or call option) with respect to any of the covered shares or with respect to any security that includes, relates to, or derives any significant part of its value from such covered shares.

 

(b)                                 Notwithstanding the foregoing, a Stockholder Party may transfer or dispose of its shares (i) by will or intestacy, (ii) as a bona fide gift or gifts, including to charitable organizations, (iii) to any trust, partnership, limited liability company or other entity for the direct or indirect benefit of the undersigned or the immediate family of the undersigned (for purposes of this Section 3.1, “immediate family” shall mean any relationship by blood, current or former marriage or adoption, not more remote than first cousin), (iv) to any immediate family member or other dependent, (v) as a distribution to limited partners, members or stockholders of such Stockholder Party, (vi) to its Affiliated investment fund or other Affiliated entity controlled or managed by such Stockholder Party or its Affiliates, (vii) to a nominee or custodian of a Person to whom a disposition or transfer would be permissible under clauses (i) through (vi) above, (viii) pursuant to an order or decree of a Governmental Authority, (ix) from an executive officer to the Company or its Subsidiary or parent entities upon death, disability or termination of employment, in each case, of such executive officer, (x) pursuant to a bona fide third-party tender offer, merger, consolidation or other similar transaction in each case made to all holders of the shares involving a Change of Control (as defined below) (including negotiating and entering into an agreement providing for any such transaction), provided that in the event that such tender offer, merger, consolidation or other such transaction is not completed, such Stockholder Party’s shares shall remain subject to the provisions of this Section 3.1, (xi) to the Company (1) pursuant to the exercise, in each case on a “cashless” or “net exercise” basis, of any option to purchase shares granted by the Company pursuant to any employee benefit plans or arrangements which are set to expire during the Lock-Up Period, where any shares received by the undersigned upon any such exercise will be subject to the terms of this Section 3.1, or (2) for the purpose of satisfying any withholding taxes (including estimated taxes) due as a result of the exercise of any option to purchase shares or the vesting of any restricted stock awards granted by the Company pursuant to employee benefit plans or arrangements which are set to expire or

 

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automatically vest during the Lock-Up Period, in each case on a “cashless” or “net exercise” basis, where any shares received by such Stockholder Party upon any such exercise or vesting will be subject to the terms of this Section 3.1, or (xii) with the prior written consent of the Company; provided that:

 

(i)                                     in the case of each transfer or distribution pursuant to clauses (ii) through (vii) above, (a) each donee, trustee, distributee or transferee, as the case may be, agrees to be bound in writing by the restrictions set forth in this Section 3.1; and (b) any such transfer or distribution shall not involve a disposition for value, other than with respect to any such transfer or distribution for which the transferor or distributor receives (x) equity interests of such transferee or (y) such transferee’s interests in the transferor;

 

(ii)                                  in the case of each transfer or distribution pursuant to clauses (ii) through (vii) above, if any public reports or filings (including filings under Section 16(a) of the Exchange Act) reporting a reduction in beneficial ownership of shares shall be required or shall be voluntarily made during the Lock-Up Period (a) such Stockholder Party shall provide the Company prior written notice informing them of such report or filing and (b) such report or filing shall disclose that such donee, trustee, distributee or transferee, as the case may be, agrees to be bound in writing by the restrictions set forth herein; and

 

(iii)                               for purposes of clause (x) above, “Change of Control” shall mean the transfer to or acquisition by (whether by tender offer, merger, consolidation, division or other similar transaction), in one transaction or a series of related transactions, a Person or group of Affiliated Persons (other than an underwriter pursuant to an offering), of the Company’s voting securities if, after such transfer or acquisition, such Person or group of Affiliated Persons would Beneficially Own more than 50% of the outstanding voting securities of the Company (or the surviving entity).

 

(c)                                  Each Stockholder Party shall be permitted to enter into a trading plan established in accordance with Rule 10b5-1 under the Exchange Act during the applicable Lock-Up Period so long as no transfers or other dispositions of such Stockholder Party’s shares in contravention of Section 3.1 are effected prior to the expiration of the applicable Lock-Up Period.

 

(d)                                 Each Stockholder Party also agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent and registrar against the transfer of the covered shares except in compliance with the foregoing restrictions and to the addition of a legend to such Stockholder Party’s shares describing the foregoing restrictions.

 

ARTICLE IV
 GENERAL PROVISIONS

 

4.1                               Termination.  Subject to Section 4.13 or the early termination of any provision as a result of an amendment to this Agreement agreed to by the Board and the Stockholder Parties, as provided under Section 4.3, this Agreement (other than Article IV hereof), shall terminate with respect to each Stockholder Party and its Permitted Transferees at such time as such Stockholder Party and its Permitted Transferees collectively Beneficially Own less than 1.0% of the outstanding shares; provided that this Agreement shall not terminate with respect to any

 

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Stockholder Party or Permitted Transferee thereof subject to the restrictions in Section 3.1, until such time as such Stockholder Party or Permitted Transferee is no longer subject to the restrictions contained in Section 3.1.

 

4.2                               Notices.  All notices and other communications among the parties shall be in writing and shall be deemed to have been duly given (i) when delivered in person, (ii) when delivered after posting in the United States mail having been sent registered or certified mail return receipt requested, postage prepaid, (iii) when delivered by FedEx or other nationally recognized overnight delivery service or (iv) when e-mailed during normal business hours (and otherwise as of the immediately following Business Day), addressed as follows:

 

If to the Company, to:

 

Desktop Metal, Inc.
 63 Third Avenue
 Burlington, MA 01803
 Attn:                   Meg Broderick; Elizabeth Linardos
 E-mail:        meg.broderick@desktopmetal.com;
                                                 elizabeth.linardos@desktopmetal.com

 

with a copy (not constituting notice) to:

 

Latham & Watkins LLP
 200 Clarendon St.
 Boston, MA 02116
 Attn:                   John Chory
                                                 Ryan Maierson
 E-mail:        john.chory@lw.com
                                                 ryan.maierson@lw.com

 

If to any Stockholder Party, to such address indicated on the Company’s records with respect to such Stockholder Party or to such other address or addresses as such Stockholder Party may from time to time designate in writing.

 

4.3                               Amendment; Waiver.  (a) The terms and provisions of this Agreement may be amended or modified in whole or in part only by a duly authorized agreement in writing executed by the Company and Stockholder Parties holding a majority of the shares then held by the Stockholder Parties in the aggregate as to which this Agreement has not been terminated pursuant to Section 4.1.  Prior to the consummation of the Merger, this Agreement may not be amended without the prior written consent of Legacy DM.

 

(b)                                 Except as expressly set forth in this Agreement, neither the failure nor delay on the part of any party hereto to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy power or privilege preclude any other or further exercise of the same or of any other right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege

 

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with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence.

 

(c)                                  No party shall be deemed to have waived any claim arising out of this Agreement, or any right, remedy, power or privilege under this Agreement, unless the waiver of such claim, right, remedy, power or privilege is expressly set forth in a written instrument duly executed and delivered on behalf of such party; and any such waiver shall not be applicable or have any effect except in the specific instance in which it is given.

 

(d)                                 Any party hereto may unilaterally waive any of its rights hereunder in a signed writing delivered to the Company.

 

4.4                               Further Assurances.  The parties hereto will sign such further documents, cause such meetings to be held, resolutions passed, exercise their votes and do and perform and cause to be done such further acts and things necessary, proper or advisable in order to give full effect to this Agreement and every provision hereof.

 

4.5                               Assignment.  No party hereto shall assign this Agreement or any part hereof without the prior written consent of the other parties.  Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective permitted successors and assigns.  Any attempted assignment in violation of the terms of this Section 4.5 shall be null and void, ab initio.

 

4.6                               Third Parties.  Except as provided for in Article II, Article III and Article IV with respect to any Non-Recourse Party, nothing expressed or implied in this Agreement is intended or shall be construed to confer upon or give any Person, other than the parties hereto, any right or remedies under or by reason of this Agreement.

 

4.7                               Governing Law.  THIS AGREEMENT, AND ALL CLAIMS OR CAUSES OF ACTION BASED UPON, ARISING OUT OF, OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO PRINCIPLES OR RULES OF CONFLICT OF LAWS TO THE EXTENT SUCH PRINCIPLES OR RULES WOULD REQUIRE OR PERMIT THE APPLICATION OF LAWS OF ANOTHER JURISDICTION.

 

4.8                               Jurisdiction; Waiver of Jury Trial.  Any claim, action, suit, assessment, arbitration or proceeding (an “Action”) based upon, arising out of or related to this Agreement, or the transactions contemplated hereby, shall be brought in the Court of Chancery of the State of Delaware or, if such court declines to exercise jurisdiction, any federal or state court located in New York County, New York, and each of the parties irrevocably submits to the exclusive jurisdiction of each such court in any such Action, waives any objection it may now or hereafter have to personal jurisdiction, venue or to convenience of forum, agrees that all claims in respect of the Action shall be heard and determined only in any such court, and agrees not to bring any Action arising out of or relating to this Agreement or the transactions contemplated hereby in any other court.  Nothing herein contained shall be deemed to affect the right of any party to serve process in any manner permitted by law, or to commence legal proceedings or otherwise

 

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proceed against any other party in any other jurisdiction, in each case, to enforce judgments obtained in any Action brought pursuant to this Section 4.8.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION BASED UPON, ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

4.9                               Specific Performance.  The parties agree that irreparable damage for which monetary damages, even if available, would not be an adequate remedy, would occur in the event that the parties do not perform their obligations under the provisions of this Agreement (including failing to take such actions as are required of them hereunder to consummate this Agreement) in accordance with its specified terms or otherwise breach such provisions.  The parties acknowledge and agree that (a) the parties shall be entitled to an injunction, specific performance, or other equitable relief, to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof, without proof of damages, prior to the valid termination of this Agreement, and (b) the right of specific enforcement is an integral part of the transactions contemplated by this Agreement and without that right, none of the parties would have entered into this Agreement.  Each party agrees that it will not oppose the granting of specific performance and other equitable relief on the basis that the other parties have an adequate remedy at law or that an award of specific performance is not an appropriate remedy for any reason at law or equity.  The parties acknowledge and agree that any party seeking an injunction to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in accordance with this Section 4.9 shall not be required to provide any bond or other security in connection with any such injunction.

 

4.10                        Entire Agreement.  This Agreement constitutes the entire agreement among the parties relating to the transactions contemplated hereby and supersede any other agreements, whether written or oral, that may have been made or entered into by or among any of the parties hereto relating to the transactions contemplated hereby.  No representations, warranties, covenants, understandings, agreements, oral or otherwise, relating to the transactions contemplated by this Agreement exist between the parties except as expressly set forth or referenced in this Agreement.

 

4.11                        Severability.  If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement shall remain in full force and effect.  The parties further agree that if any provision contained herein is, to any extent, held invalid or unenforceable in any respect under the laws governing this Agreement, they shall take any actions necessary to render the remaining provisions of this Agreement valid and enforceable to the fullest extent permitted by law and, to the extent necessary, shall amend or otherwise modify this Agreement to replace any provision contained herein that is held invalid or unenforceable with a valid and enforceable provision giving effect to the intent of the parties.

 

4.12                        Captions; Counterparts.  The captions in this Agreement are for convenience only and shall not be considered a part of or affect the construction or interpretation of any provision of this Agreement.  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.

 

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4.13                        Effectiveness; Termination of Existing Stockholders and Securityholders Agreements.  This Agreement shall be valid and enforceable as of the date of this Agreement and may not be revoked by any party hereto; provided that the provisions herein (other than this Article IV) shall not be effective until the consummation of the Merger.  In the event the Merger Agreement is terminated in accordance with its terms, this Agreement shall automatically terminate and be of no further force or effect.

 

4.14                        Non-Recourse.  This Agreement may only be enforced against, and any claim or cause of action based upon, arising out of, or related to this Agreement or the transactions contemplated hereby may only be brought against, the entities that are expressly named as parties hereto, and then only with respect to the specific obligations set forth herein with respect to such party.  Except to the extent a named party to this Agreement (and then only to the extent of the specific obligations undertaken by such named party in this Agreement), no Non-Recourse Party shall have any liability (whether in contract, tort, equity or otherwise) for any one or more of the representations, warranties, covenants, agreements or other obligations or liabilities of the parties to this Agreement or for any claim based on, arising out of, or related to this Agreement or the transactions contemplated hereby.

 

[Remainder of Page Intentionally Left Blank]

 

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IN WITNESS WHEREOF, the parties hereto have executed this Confidentiality and Lockup Agreement on the day and year first above written.

 

	
 
    	
TRINE ACQUISITION CORP.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Pierre Henry
    
	
 
    	
 
    	
Name: Pierre Henry
    
	
 
    	
 
    	
Title:      Chief Financial Officer
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
NEW ENTERPRISE ASSOCIATES 15, L.P.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: NEA Partners 15, L.P., its general   partner
    
	
 
    	
 
    
	
 
    	
By: NEA 15 GP, LLC, its general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Stephanie Brecher
    
	
 
    	
 
    	
Name: Stephanie Brecher
    
	
 
    	
 
    	
Title:      General Counsel
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
RIC FULOP
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ric Fulop
    
	
 
    	
 
    	
Ric Fulop
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
KPCB HOLDINGS, INC., AS NOMINEE
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Susan Biglieri
    
	
 
    	
 
    	
Name: Susan Biglieri
    
	
 
    	
 
    	
Title: COO/CFO
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
LUX VENTURES IV, L.P.
    
	
 
    	
 
    
	
 
    	
By: Lux Venture Partners IV, LLC, its   General Partner
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Peter   Hebert
    
	
 
    	
 
    	
Name: Peter Hebert
    
	
 
    	
 
    	
Title:      Managing Member
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
KDT DESKTOP METAL HOLDINGS, LLC
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Knight, Byron L
    
	
 
    	
 
    	
Name: Knight, Byron L
    
	
 
    	
 
    	
Title:      Managing Director
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
GV 2016, L.P.
    
	
 
    	
 
    
	
 
    	
By: GV 2016 GP, L.P., its General Partner
    
	
 
    	
 
    
	
 
    	
By: GV 2016 GP, L.L.C., its General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Daphne Chang
    
	
 
    	
 
    	
Name: Daphne Chang
    
	
 
    	
 
    	
Title:      Authorized Signatory
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
FORD MOTOR COMPANY
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Gary A. Johnson
    
	
 
    	
 
    	
Name: Gary A. Johnson
    
	
 
    	
 
    	
Title:      Chief Manufacturing and Labor Affairs Officer
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
/s/ Anastasios John   Hart
    
	
 
    	
Anastasios John Hart
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
 
    	
/s/ Ricardo Chin
    
	
 
    	
 
    	
Ricardo Chin
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
 
    	
/s/ Jonah Myerberg
    
	
 
    	
 
    	
Name: Jonah Myerberg
    
	
 
    	
 
    	
Title: CTO
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
 
    	
/s/ Yet-Ming Chiang
    
	
 
    	
 
    	
Yet-Ming Chiang
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
 
    	
/s/ Matt Verminski
    
	
 
    	
 
    	
Matt Verminski
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
 
    	
/s/ Emanuel Sachs
    
	
 
    	
 
    	
Technical Fellow   Desktop Metal
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
By:
    	
/s/ Christopher A.   Schuh
    
	
 
    	
 
    	
Name: Christopher A.   Schuh
    
	
 
    	
 
    	
Title:   Founder, Desktop Metal
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
Executed by Future Fund Investment Company No.4 Pty Ltd   (ABN 134 338 908) by its attorney under power of attorney dated July 10,   2019 (who, by signing, confirms they have received no notice of revocation of   that power):
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Kylie Yong
    
	
 
    	
 
    	
Name: Kylie Yong
    
	
 
    	
 
    	
Title: Company   Secretary
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
EXECUTED   on behalf of THE NORTHERN TRUST COMPANY (ABN 62 126 279 918), a   company incorporated in the State of Illinois in the United States of   America, solely in its capacity as custodian for Future Fund Investment   Company No.4 Pty Ltd (ABN 134 338 908); provided, that The Northern Trust   Company (ABN 62 126 279 918) (the “FF Investor”) enters into and is liable   under this Agreement only in its capacity as custodian for the Future Fund   Investment Company No.4 Pty Ltd (ACN 134 338 908) (the “FF Beneficial Investor”),   and to the extent that the FF Investor is actually indemnified by the FF   Beneficial Investor; provided, further that, to the extent this provision   operates to reduce the amounts for which the FF Investor would otherwise be   liable to any person, the FF Beneficial Investor will pay or procure the   payment of such amounts to such person.
    	
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/s/ James Mclaren
    
	
by
    	
JAMES   MCLAREN
    	
 
    	
By executing this   agreement the signatory warrants that the signatory is duly authorized to   execute this agreement on behalf of THE    NORTHERN TRUST COMPANY
    
	
 
    	
 
    	
 
    
	
being a person who, in   accordance with the laws of that territory, is acting under the authority of   the company.
    	
 
    	
 
    
					

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
Ric Fulop - Bluebird Trust
    
	
 
    	
 
    
	
 
    	
BLUEBIRD   TRUST
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Steven Papa
    
	
 
    	
Name:
    	
Steven   Papa
    
	
 
    	
Title:
    	
Trustee
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
Ric Fulop - Khaki Campbell Trust
    
	
 
    	
 
    
	
 
    	
KHAKI   CAMPBELL TRUST
    
	
 
    	
 
    	
 
    
	
 
    	
By
    	
/s/ Steven Papa
    
	
 
    	
Name:
    	
Steven   Papa
    
	
 
    	
Title:
    	
Trustee
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

	
 
    	
Ric Fulop - Red Tailed Hawk Trust
    
	
 
    	
 
    
	
 
    	
RED   TAILED HAWK TRUST
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Steven Papa
    
	
 
    	
Name:
    	
Steven   Papa
    
	
 
    	
Title:
    	
Trustee
    

 

[Signature Page to Confidentiality and Lockup Agreement]

 

 

Exhibit A

 

New Enterprise Associates 15, L.P. 

KPCB Holdings, Inc., as nominee 

Lux Ventures IV, L.P.

GV 2016, L.P.

Ric Fulop

KDT Desktop Metal Holdings, LLC

The Northern Trust Company, in its capacity as custodian for the Future Fund Investment 

Company No. 4 Pty Ltd

Ford Motor Company 

Anastasios John Hart

Ricardo Chin

Jonah Myerberg 

Christopher Schuh 

Yet-Ming Chiang 

Matt Verminski 

Emanuel Sachs 

Bluebird Trust

Khaki Campbell Trust 

Red Tailed Hawk Trust

 

 

Exhibit B

 

FORM OF JOINDER TO CONFIDENTIALITY AND LOCKUP AGREEMENT

 

[      ], 20

 

Reference is made to the Confidentiality and Lockup Agreement, dated as of August 26, 2020, by and among Trine Acquisition Corp. (the “Company”) and the other Stockholder Parties (as defined therein) from time to time party thereto (as amended from time to time, the “Confidentiality and Lockup Agreement”).  Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Confidentiality and Lockup Agreement.

 

Each of the Company and each undersigned holder of shares of the Company (each, a “New  Stockholder Party”) agrees that this Joinder to the Confidentiality and Lockup Agreement (this “Joinder”) is being executed and delivered for good and valuable consideration.

 

Each undersigned New Stockholder Party hereby agrees to and does become party to the Confidentiality and Lockup Agreement as a Stockholder Party.  This Joinder shall serve as a counterpart signature page to the Confidentiality and Lockup Agreement and by executing below each undersigned New Stockholder Party is deemed to have executed the Confidentiality and Lockup Agreement with the same force and effect as if originally named a party thereto.

 

This Joinder may be executed in multiple counterparts, including by means of facsimile or electronic signature, each of which shall be deemed an original, but all of which together shall constitute the same instrument.

 

[Remainder of Page Intentionally Left Blank.]

 

 

IN WITNESS WHEREOF, the undersigned have duly executed this Joinder as of the date first set forth above.

 

	
 
    	
[NEW STOCKHOLDER PARTY]
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title
    
	
 
    	
 
    
	
 
    	
DESKTOP METAL, INC.
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:Exhibit 10.8

 

Execution Version

 

AMENDED AND RESTATED

REGISTRATION RIGHTS AGREEMENT

 

THIS AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of August 26, 2020, is made and entered into by and among:

 

(i)        Trine Acquisition Corp., a Delaware corporation (“Trine”); and

 

(ii)       certain equityholders of Trine as set forth on Schedule A hereto (the “Sponsor Equityholders”); and

 

(iii)      certain equityholders of Desktop Metal, Inc., a Delaware corporation (“Legacy DM”), as set forth on Schedule B hereto (collectively, the “DM Equityholders” and, together with the Sponsor Equityholders and any person or entity who hereafter becomes a party to this Agreement pursuant to Section 5.2 of this Agreement, a “Holder” and collectively the “Holders”).

 

RECITALS

 

WHEREAS, Trine and Trine Sponsor 1H LLC, a Delaware limited liability company (“Sponsor”), are party to that certain Registration Rights Agreement, dated as of March 14, 2019, with each of the other individuals party thereto (the “Original RRA”);

 

WHEREAS, Trine and Desktop Metal, Inc., a Delaware corporation (“Legacy DM”), are party to that certain Agreement and Plan of Merger, dated as of August 26, 2020 (as it may be amended, supplemented, restated or otherwise modified from time to time, the “Merger Agreement”), by and among Trine, Legacy DM and Sparrow Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Trine (“Merger Sub”), pursuant to which, (i) Merger Sub will merge with and into Legacy DM, with Legacy DM being the surviving entity and a wholly-owned subsidiary of Trine (the “Merger”);

 

WHEREAS, following the consummation of the Merger, Trine will be renamed “Desktop Metal, Inc.” (Trine, following the consummation of the Merger, the “Company”) and, concurrently, Legacy DM will be renamed; and

 

WHEREAS, in connection with the consummation of the transactions described above (the “Transactions”), Trine, Sponsor and the other parties to the Original RRA desire to amend and restate the Original RRA in its entirety as set forth herein, and Trine and the Holders desire to enter into this Agreement, pursuant to which the Company shall grant the Holders certain registration rights with respect to the Registrable Securities (as defined below) on the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE, in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

ARTICLE I
  DEFINITIONS

 

1.1          Definitions. The terms defined in this Article I shall, for all purposes of this Agreement, have the respective meanings set forth below:

 

“Adverse Disclosure” shall mean any public disclosure of material non-public information, which disclosure, in the good faith judgment of the Chief Executive Officer of the Company or the Board, after

 

 

consultation with counsel to the Company, (i) would be required to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein (in the case of any prospectus and any preliminary prospectus, in the light of the circumstances under which they were made) not misleading, (ii) would not be required to be made at such time if the Registration Statement were not being filed, declared effective or used, as the case may be, and (iii) the Company has a bona fide business purpose for not making such information public.

 

“Action” means any claim, action, suit, audit, examination, assessment, arbitration, mediation or inquiry, or any proceeding or investigation, by or before any Governmental Authority.

 

“Agreement” shall have the meaning given in the Preamble hereto.

 

“Board” means the board of directors of the Company.

 

“Block Trade” shall have the meaning given in Section 2.4.1.

 

“Closing” shall have the meaning given in the Merger Agreement.

 

“Closing Date” shall have the meaning given in the Merger Agreement.

 

“Commission” shall mean the Securities and Exchange Commission.

 

“Common Stock” shall mean the common stock of the Company, par value $0.0001 per share.

 

“Company” shall have the meaning given in the Recitals hereto and includes the Company’s successors by recapitalization, merger, consolidation, spin-off, reorganization or similar transaction.

 

“Demanding Holder” shall have the meaning given in Section 2.1.4.

 

“DM Equityholders” shall have the meaning given in the Preamble hereto.

 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

“FINRA” the Financial Industry Regulatory Authority Inc.

 

“Form S-1 Shelf” shall have the meaning given in Section 2.1.1.

 

“Form S-3 Shelf” shall have the meaning given in Section 2.1.1.

 

“Governmental Authority” means any federal, state, provincial, municipal, local or foreign government, governmental authority, regulatory or administrative agency (which for the purposes of this Agreement shall include FINRA and the Commission), governmental commission, department, board, bureau, agency or instrumentality, court or tribunal.

 

“Governmental Order” means any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case, entered by or with any Governmental Authority.

 

“Holder Information” shall have the meaning given in Section 4.1.2.

 

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“Holders” shall have the meaning given in the Preamble hereto, for so long as such person or entity holds any Registrable Securities.

 

“Law” means any statute, law, ordinance, rule, regulation or Governmental Order, in each case, of any Governmental Authority.

 

“Lockup Agreement” shall mean the Confidentiality and Lockup Agreement, dated as of August 26, 2020, by and among Trine and the other parties thereto, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time.

 

“Lock-Up Period” shall have the meaning given in the Lockup Agreement.

 

“Maximum Number of Securities” shall have the meaning given in Section 2.1.5.

 

“Merger” shall have the meaning given in the Recitals hereto.

 

“Merger Agreement” shall have the meaning given in the Recitals hereto.

 

“Minimum Takedown Threshold” shall have the meaning given in Section 2.1.4.

 

“Misstatement” shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement or Prospectus or necessary to make the statements in a Registration Statement or Prospectus (in the case of a Prospectus, in the light of the circumstances under which they were made) not misleading.

 

“Original RRA” shall have the meaning given in the Recitals hereto.

 

“Permitted Transferees” shall mean any person or entity to whom a Holder of Registrable Securities is permitted to transfer such Registrable Securities prior to the expiration of the Lockup Period pursuant to the Lockup Agreement.

 

“Piggyback Registration” shall have the meaning given in Section 2.2.1.

 

“Prospectus” shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Registrable Security” shall mean (a) any outstanding shares of Common Stock held by a Holder immediately following the Closing (including shares of Common Stock distributable pursuant to the Merger Agreement and the conversion of the Company’s Class B Common Stock), (b) any shares of Common Stock that may be acquired by Holders upon the exercise of a warrant or other right to acquire Common Stock held by a Holder immediately following the Closing, (c) any shares of Common Stock or warrants to purchase shares of Common Stock (including any shares of Common Stock issued or issuable upon the exercise of any such warrant) of the Company otherwise acquired or owned by a Holder following the date hereof to the extent that such securities are “restricted securities” (as defined in Rule 144) or are otherwise held by an “affiliate” (as defined in Rule 144) of the Company, and (d) any other equity security of the Company or any of its subsidiaries issued or issuable with respect to any securities referenced in clause (a), (b) or (c) above by way of a stock dividend or stock split or in connection with a recapitalization, merger, consolidation, spin-off, reorganization or similar transaction; provided, however, that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities upon the earliest to occur of: (A) a Registration Statement with respect to the sale of such securities shall have become effective under

 

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the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement by the applicable Holder; (B) such securities shall have been otherwise transferred, new certificates for such securities not bearing a legend restricting further transfer shall have been delivered by the Company and subsequent public distribution of such securities shall not require registration under the Securities Act; (C) such securities shall have ceased to be outstanding; (D) such securities may be sold without registration pursuant to Rule 144 or any successor rule promulgated under the Securities Act (but with no volume or other restrictions or limitations including as to manner or timing of sale); and (E) such securities have been sold to, or through, a broker, dealer or underwriter in a public distribution or other public securities transaction.

 

“Registration” shall mean a registration, including any related Shelf Takedown, effected by preparing and filing a registration statement, prospectus or similar document in compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement becoming effective.

 

“Registration Expenses” shall mean the expenses of a Registration, including, without limitation, the following:

 

(A)          all registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory Authority, Inc.) and any national securities exchange on which the Common Stock is then listed;

 

(B)          fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of outside counsel for the Underwriters in connection with blue sky qualifications of Registrable Securities);

 

(C)          printing, messenger, telephone and delivery expenses;

 

(D)          reasonable fees and disbursements of counsel for the Company;

 

(E)           reasonable fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection with such Registration; and

 

(F)           reasonable fees and expenses of one legal counsel selected by the majority-in-interest of the Demanding Holders in an Underwritten Offering (not to exceed $35,000 without the consent of the Company).

 

“Registration Statement” shall mean any registration statement that covers Registrable Securities pursuant to the provisions of this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such registration statement, and all exhibits to and all material incorporated by reference in such registration statement.

 

“Requesting Holders” shall have the meaning given in Section 2.1.5.

 

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

 

“Shelf” shall mean the Form S-1 Shelf, the Form S-3 Shelf or any Subsequent Shelf Registration, as the case may be.

 

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“Shelf Registration” shall mean a registration of securities pursuant to a registration statement filed with the Commission in accordance with and pursuant to Rule 415 promulgated under the Securities Act (or any successor rule then in effect).

 

“Shelf Takedown” shall mean an Underwritten Shelf Takedown or any proposed transfer or sale using a Registration Statement, including a Piggyback Registration.

 

“Sponsor” shall have the meaning given in the Recitals hereto.

 

“Sponsor Equityholders” shall have the meaning given in the Preamble.

 

“Subsequent Shelf Registration” shall have the meaning given in Section 2.1.2.

 

“Transactions” shall have the meaning given in the Recitals hereto.

 

“Transfer” shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act with respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

“Underwriter” shall mean a securities dealer who purchases any Registrable Securities as principal and not as part of such dealer’s market-making activities.

 

“Underwritten Offering” shall mean a Registration in which securities of the Company are sold to an Underwriter in a firm commitment underwriting for distribution to the public.

 

“Underwritten Shelf Takedown” shall have the meaning given in Section 2.1.4.

 

“Withdrawal Notice” shall have the meaning given in Section 2.1.6.

 

ARTICLE II
  REGISTRATIONS AND OFFERINGS

 

2.1          Shelf Registration.

 

2.1.1       Filing. The Company shall file within 45 days of the Closing Date, and use commercially reasonable efforts to cause to be declared effective as soon as practicable thereafter, a Registration Statement for a Shelf Registration on Form S-1 (the “Form S-1 Shelf”) or, if the Company is eligible to use a Registration Statement on Form S-3, a Shelf Registration on Form S-3 (the “Form S-3 Shelf”), in each case, covering the resale of all the Registrable Securities (determined as of two business days prior to such filing) on a delayed or continuous basis. Such Shelf shall provide for the resale of the Registrable Securities included therein pursuant to any method or combination of methods legally available to, and requested by, any Holder named therein. The Company shall maintain a Shelf in accordance with the terms hereof, and shall prepare and file with the SEC such amendments, including post-effective amendments, and supplements as may be necessary to keep a Shelf continuously effective, available for use and in compliance with the provisions of the Securities Act until such time as there are no longer any Registrable Securities. In the event the Company files a Form S-1 Shelf, the Company shall use its

 

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commercially reasonable efforts to convert the Form S-1 Shelf (and any Subsequent Shelf Registration) to a Form S-3 Shelf as soon as practicable after the Company is eligible to use Form S-3.

 

2.1.2       Subsequent Shelf Registration. If any Shelf ceases to be effective under the Securities Act for any reason at any time while Registrable Securities are still outstanding, the Company shall, subject to Section 3.4, use its commercially reasonable efforts to as promptly as is reasonably practicable cause such Shelf to again become effective under the Securities Act (including obtaining the prompt withdrawal of any order suspending the effectiveness of such Shelf), and shall use its commercially reasonable efforts to as promptly as is reasonably practicable amend such Shelf in a manner reasonably expected to result in the withdrawal of any order suspending the effectiveness of such Shelf or file an additional registration statement as a Shelf Registration (a “Subsequent Shelf Registration”) registering the resale of all Registrable Securities (determined as of two business days prior to such filing), and pursuant to any method or combination of methods legally available to, and requested by, any Holder named therein. If a Subsequent Shelf Registration is filed, the Company shall use its commercially reasonable efforts to (i) cause such Subsequent Shelf Registration to become effective under the Securities Act as promptly as is reasonably practicable after the filing thereof (it being agreed that the Subsequent Shelf Registration shall be an automatic shelf registration statement (as defined in Rule 405 promulgated under the Securities Act) if the Company is a well-known seasoned issuer (as defined in Rule 405 promulgated under the Securities Act) at the most recent applicable eligibility determination date) and (ii) keep such Subsequent Shelf Registration continuously effective, available for use and in compliance with the provisions of the Securities Act until such time as there are no longer any Registrable Securities. Any such Subsequent Shelf Registration shall be on Form S-3 to the extent that the Company is eligible to use such form. Otherwise, such Subsequent Shelf Registration shall be on another appropriate form.

 

2.1.3       Additional Registerable Securities. In the event that any Holder holds Registrable Securities that are not registered for resale on a delayed or continuous basis, the Company, upon request of a DM Equityholder or a Sponsor Equityholder that holds at least five (5.0%) percent of the Registrable Securities, shall promptly use its commercially reasonable efforts to cause the resale of such Registrable Securities to be covered by either, at the Company’s option, the Shelf (including by means of a post-effective amendment) or a Subsequent Shelf Registration and cause the same to become effective as soon as practicable after such filing and such Shelf or Subsequent Shelf Registration shall be subject to the terms hereof; provided, however, that the Company shall only be required to cause such Registrable Securities to be so covered twice per calendar year for the DM Equityholders, on the one hand, and the Sponsor Equityholders, on the other hand.

 

2.1.4       Requests for Underwritten Shelf Takedowns. At any time and from time to time when an effective Shelf is on file with the Commission, any DM Equityholder or Sponsor Equityholder (any of the DM Equityholders or the Sponsor Equityholders being, in such case, a “Demanding Holder”) may request to sell all or any portion of its Registrable Securities in an Underwritten Offering or other coordinated offering that is registered pursuant to the Shelf (each, an “Underwritten Shelf Takedown”); provided that the Company shall only be obligated to effect an Underwritten Shelf Takedown if such offering shall include Registrable Securities proposed to be sold by the Demanding Holder with a total offering price reasonably expected to exceed, in the aggregate, $75 million (the “Minimum Takedown Threshold”). All requests for Underwritten Shelf Takedowns shall be made by giving written notice to the Company, which shall specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Shelf Takedown. Subject to Section 2.4.4, the Company shall have the right to select the Underwriters for such offering (which shall consist of one or more reputable nationally recognized investment banks), subject to the initial Demanding Holder’s prior approval (which shall not be unreasonably withheld, conditioned or delayed). The DM Equityholders, on the one hand, and the Sponsor Equityholders, on the other hand, may each demand not more than two (2) Underwritten Shelf Takedowns pursuant to this Section 2.1.4 in any 12-month period. Notwithstanding anything to the contrary in this

 

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Agreement, the Company may effect any Underwritten Offering pursuant to any then effective Registration Statement, including a Form S-3, that is then available for such offering.

 

2.1.5       Reduction of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Shelf Takedown, in good faith, advises the Company, the Demanding Holders and the Holders requesting piggy back rights pursuant to this Agreement with respect to such Underwritten Shelf Takedown (the “Requesting Holders”) (if any) in writing that the dollar amount or number of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with all other shares of Common Stock or other equity securities that the Company desires to sell and all other shares of Common Stock or other equity securities, if any, that have been requested to be sold in such Underwritten Offering pursuant to separate written contractual piggy-back registration rights held by any other stockholders, exceeds the maximum dollar amount or maximum number of equity securities that can be sold in the Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable, the “Maximum Number of Securities”), then the Company shall include in such Underwritten Offering, before including any shares of Common Stock or other equity securities proposed to be sold by Company or by other holders of Common Stock or other equity securities, the Registrable Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata based on the respective number of Registrable Securities that each Demanding Holder and Requesting Holder (if any) has requested be included in such Underwritten Shelf Takedown and the aggregate number of Registrable Securities that the Demanding Holders and Requesting Holders have requested be included in such Underwritten Shelf Takedown) that can be sold without exceeding the Maximum Number of Securities.  To facilitate the allocation of Registrable Securities in accordance with the above provisions, the Company or the Underwriters may round the number of shares allocated to any Holder to the nearest 100 shares.  The Company shall not be required to include any Registrable Securities in such Underwritten Shelf Takedown unless the Holders accept the terms of the underwriting as agreed upon between the Company and its Underwriters.

 

2.1.6       Withdrawal. Prior to the filing of the applicable “red herring” prospectus or prospectus supplement used for marketing such Underwritten Shelf Takedown, a majority-in-interest of the Demanding Holders initiating an Underwritten Shelf Takedown shall have the right to withdraw from such Underwritten Shelf Takedown for any or no reason whatsoever upon written notification (a “Withdrawal Notice”) to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Shelf Takedown; provided that any DM Equityholder or Sponsor Equityholder may elect to have the Company continue an Underwritten Shelf Takedown if the Minimum Takedown Threshold would still be satisfied by the Registrable Securities proposed to be sold in the Underwritten Shelf Takedown by the DM Equityholders, the Sponsor Equityholders or any of their respective Permitted Transferees, as applicable. If withdrawn, a demand for an Underwritten Shelf Takedown shall constitute a demand for an Underwritten Shelf Takedown for purposes of Section 2.1.4, unless either (i) the Demanding Holder has not previously withdrawn any Underwritten Shelf Takedown or (ii) the Holder reimburses the Company for all Registration Expenses with respect to such Underwritten Shelf Takedown; provided that, if a DM Equityholder or a Sponsor Equityholder elects to continue an Underwritten Shelf Takedown pursuant to the proviso in the immediately preceding sentence, such Underwritten Shelf Takedown shall instead count as an Underwritten Shelf Takedown demanded by the DM Equityholders or the Sponsor Equityholders, as applicable, for purposes of Section 2.1.4. Following the receipt of any Withdrawal Notice, the Company shall promptly forward such Withdrawal Notice to any other Holders that had elected to participate in such Shelf Takedown. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a Shelf Takedown prior to its withdrawal under this Section 2.1.6, other than if a Demanding Holder elects to pay such Registration Expenses pursuant to clause (ii) of the second sentence of this Section 2.1.6.

 

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2.2          Piggyback Registration.

 

2.2.1       Piggyback Rights. Subject to Section 2.4.3, if the Company or any Holder proposes to conduct a registered offering of, or if the Company proposes to file a Registration Statement under the Securities Act with respect to the Registration of, equity securities, or securities or other obligations exercisable or exchangeable for, or convertible into equity securities, for its own account or for the account of stockholders of the Company (or by the Company and by the stockholders of the Company including, without limitation, an Underwritten Shelf Takedown pursuant to Section 2.1 hereof), other than a Registration Statement (or any registered offering with respect thereto) (i) filed in connection with any employee stock option or other benefit plan, (ii) pursuant to a Registration Statement on Form S-4 (or similar form that relates to a transaction subject to Rule 145 under the Securities Act or any successor rule thereto), (iii) for an offering of debt that is convertible into equity securities of the Company or, (iv) for a dividend reinvestment plan or (v) for a rights offering, then the Company shall give written notice of such proposed offering to all of the Holders of Registrable Securities as soon as practicable but not less than ten (10) days before the anticipated filing date of such Registration Statement or, in the case of an Underwritten Offering pursuant to a Shelf Registration, the applicable “red herring” prospectus or prospectus supplement used for marketing such offering, which notice shall (A) describe the amount and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter or Underwriters, if any, in such offering, and (B) offer to all of the Holders of Registrable Securities the opportunity to include in such registered offering such number of Registrable Securities as such Holders may request in writing within five (5) days after receipt of such written notice (such registered offering, a “Piggyback Registration”). Subject to Section 2.2.2, the Company shall, in good faith, cause such Registrable Securities to be included in such Piggyback Registration and, if applicable, shall use its commercially reasonable efforts to cause the managing Underwriter or Underwriters of such Piggyback Registration to permit the Registrable Securities requested by the Holders pursuant to this Section 2.2.1 to be included therein on the same terms and conditions as any similar securities of the Company included in such registered offering and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof. The inclusion of any Holder’s Registrable Securities in a Piggyback Registration shall be subject to such Holder’s agreement to enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering.

 

2.2.2       Reduction of Piggyback Registration. If the managing Underwriter or Underwriters in an Underwritten Offering that is to be a Piggyback Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggyback Registration in writing that the dollar amount or number of shares of Common Stock or other equity securities that the Company desires to sell, taken together with (i) the shares of Common Stock or other equity securities, if any, as to which Registration or a registered offering has been demanded pursuant to separate written contractual arrangements with persons or entities other than the Holders of Registrable Securities hereunder, (ii) the Registrable Securities as to which registration has been requested pursuant to Section 2.2 hereof, and (iii) the shares of Common Stock or other equity securities, if any, as to which Registration or a registered offering has been requested pursuant to separate written contractual piggy-back registration rights of other stockholders of the Company, exceeds the Maximum Number of Securities, then:

 

(a)           If the Registration or registered offering is undertaken for the Company’s account, the Company shall include in any such Registration or registered offering (A) first, the shares of Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to Section 2.2.1, pro rata, based on the respective number of Registrable Securities that each Holder has requested be included in such

 

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Underwritten Offering and the aggregate number of Registrable Securities that the Holders have requested to be included in such Underwritten Offering, which can be sold without exceeding the Maximum Number of Securities; and (C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock or other equity securities, if any, as to which Registration or a registered offering has been requested pursuant to written contractual piggy-back registration rights of other stockholders of the Company, which can be sold without exceeding the Maximum Number of Securities;

 

(b)           If the Registration or registered offering is pursuant to a request by persons or entities other than the Holders of Registrable Securities, then the Company shall include in any such Registration or registered offering (A) first, the shares of Common Stock or other equity securities, if any, of such requesting persons or entities, other than the Holders of Registrable Securities, which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to Section 2.2.1, pro rata, based on the respective number of Registrable Securities that each Holder has requested be included in such Underwritten Offering and the aggregate number of Registrable Securities that the Holders have requested to be included in such Underwritten Offering, which can be sold without exceeding the Maximum Number of Securities; (C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; and (D) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A), (B) and (C), the shares of Common Stock or other equity securities for the account of other persons or entities that the Company is obligated to register pursuant to separate written contractual arrangements with such persons or entities, which can be sold without exceeding the Maximum Number of Securities; and

 

(c)           If the Registration or registered offering is pursuant to a request by Holder(s) of Registrable Securities pursuant to Section 2.1 hereof, then the Company shall include in any such Registration or registered offering securities pursuant to Section 2.1.5.

 

2.2.3       Piggyback Registration Withdrawal. Any Holder of Registrable Securities (other than a Demanding Holder, whose right to withdrawal from an Underwritten Shelf Takedown, and related obligations, shall be governed by Section 2.1.6) shall have the right to withdraw from a Piggyback Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of his, her or its intention to withdraw from such Piggyback Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect to such Piggyback Registration or, in the case of a Piggyback Registration pursuant to a Shelf Registration, the filing of the applicable “red herring” prospectus or prospectus supplement with respect to such Piggyback Registration used for marketing such transaction. The Company (whether on its own good faith determination or as the result of a request for withdrawal by persons pursuant to separate written contractual obligations) may withdraw a Registration Statement filed with the Commission in connection with a Piggyback Registration (which, in no circumstance, shall include the Shelf) at any time prior to the effectiveness of such Registration Statement. Notwithstanding anything to the contrary in this Agreement (other than Section 2.1.6), the Company shall be responsible for the Registration Expenses incurred in connection with the Piggyback Registration prior to its withdrawal under this Section 2.2.3.

 

2.2.4       Unlimited Piggyback Registration Rights. For purposes of clarity, subject to Section 2.1.6, any Piggyback Registration effected pursuant to Section 2.2 hereof shall not be counted as a demand for an Underwritten Shelf Takedown under Section 2.1.4 hereof.

 

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2.3          Market Stand-off. In connection with any Underwritten Offering of equity securities of the Company (other than a Block Trade), each Holder given an opportunity to participate in the Underwritten Offering pursuant to the terms of this Agreement agrees that it shall not Transfer any shares of Common Stock or other equity securities of the Company (other than those included in such offering pursuant to this Agreement), without the prior written consent of the Company, during the 90-day period beginning on the date of pricing of such offering or such shorter period during which the Company agrees not to conduct an underwritten primary offering of Common Stock, except in the event the Underwriters managing the offering otherwise agree by written consent. Each Holder agrees to execute a customary lock-up agreement in favor of the Underwriters to such effect (in each case on substantially the same terms and conditions as all such Holders).

 

2.4          Block Trades.

 

2.4.1       Notwithstanding the foregoing, at any time and from time to time when an effective Shelf is on file with the Commission and effective, if a Demanding Holder wishes to engage in an underwritten or other coordinated registered offering not involving a “roadshow,” an offer commonly known as a “block trade” (a “Block Trade”), with a total offering price reasonably expected to exceed, in the aggregate, either (x) $100 million or (y) all remaining Registrable Securities held by the Demanding Holder, then notwithstanding the time periods provided for in Section 2.1.4, such Demanding Holder need only to notify the Company of the Block Trade at least five (5) business days prior to the day such offering is to commence and the Company shall as expeditiously as possible use its commercially reasonable efforts to facilitate such Block Trade; provided that the Demanding Holders representing a majority of the Registrable Securities wishing to engage in the Block Trade shall use commercially reasonable efforts to work with the Company and any Underwriters prior to making such request in order to facilitate preparation of the registration statement, prospectus and other offering documentation related to the Block Trade.

 

2.4.2       Prior to the filing of the applicable “red herring” prospectus or prospectus supplement used in connection with a Block Trade, a majority-in-interest of the Demanding Holders initiating such Block Trade shall have the right to submit a Withdrawal Notice to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Block Trade. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a block trade prior to its withdrawal under this Section 2.4.2.

 

2.4.3       Notwithstanding anything to the contrary in this Agreement, Section 2.2 hereof shall not apply to a Block Trade initiated by a Demanding Holder pursuant to this Agreement.

 

2.4.4       The Demanding Holder in a Block Trade shall have the right to select the Underwriters for such Block Trade (which shall consist of one or more reputable nationally recognized investment banks).

 

ARTICLE III
  COMPANY PROCEDURES

 

3.1          General Procedures. In connection with any Shelf and/or Shelf Takedown, the Company shall use its commercially reasonable efforts to effect such Registration to permit the sale of such Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall, as expeditiously as possible:

 

3.1.1       prepare and file with the Commission as soon as practicable a Registration Statement with respect to such Registrable Securities and use its reasonable best efforts to cause such

 

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Registration Statement to become effective and remain effective until all Registrable Securities have ceased to be Registrable Securities;

 

3.1.2       prepare and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements to the Prospectus, as may be reasonably requested by any Holder that holds at least five (5.0%) percent of the Registrable Securities registered on such Registration Statement or any Underwriter of Registrable Securities or as may be required by the rules, regulations or instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration Statement effective until all Registrable Securities covered by such Registration Statement are sold in accordance with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus;

 

3.1.3       prior to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters, if any, and the Holders of Registrable Securities included in such Registration, and such Holders’ legal counsel, copies of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including each preliminary Prospectus), and such other documents as the Underwriters and the Holders of Registrable Securities included in such Registration or the legal counsel for any such Holders may request in order to facilitate the disposition of the Registrable Securities owned by such Holders;

 

3.1.4       prior to any public offering of Registrable Securities (i) register or qualify the Registrable Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United States as the Holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution) may request (or provide evidence satisfactory to such Holders that the Registrable Securities are exempt from such registration or qualification) and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations of the Company and do any and all other acts and things that may be necessary or advisable to enable the Holders of Registrable Securities included in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however, that the Company shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify or take any action to which it would be subject to general service of process or taxation in any such jurisdiction where it is not then otherwise so subject;

 

3.1.5       cause all such Registrable Securities to be listed on each national securities exchange on which similar securities issued by the Company are then listed;

 

3.1.6       provide a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective date of such Registration Statement;

 

3.1.7       advise each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance of any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceeding for such purpose and promptly use its reasonable best efforts to prevent the issuance of any stop order or to obtain its withdrawal if such stop order should be issued;

 

3.1.8       at least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration Statement or Prospectus (or such shorter period of time as may be necessary in order to comply with the Securities Act, the Exchange Act, and the rules and

 

11

 

regulations promulgated under the Securities Act or Exchange Act, as applicable), furnish a copy thereof to each seller of such Registrable Securities or its counsel (excluding any exhibits thereto and any filing made under the Exchange Act that is to be incorporated by reference therein);

 

3.1.9       notify the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities Act, of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes a Misstatement, and then to correct such Misstatement as set forth in Section 3.4 hereof;

 

3.1.10     permit a representative of the Holders, the Underwriters, if any, and any attorney or accountant retained by such Holders or Underwriter to participate, at each such person’s own expense, in the preparation of the Registration Statement, and cause the Company’s officers, directors and employees to supply all information reasonably requested by any such representative, Underwriter, attorney or accountant in connection with the Registration; provided, however, that such representatives or Underwriters agree to confidentiality arrangements reasonably satisfactory to the Company, prior to the release or disclosure of any such information;

 

3.1.11     obtain a “comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten Offering or other coordinated offering that is registered pursuant to a Registration Statement, in customary form and covering such matters of the type customarily covered by “comfort” letters as the managing Underwriter or other similar type of sales agent or placement agent may reasonably request, and reasonably satisfactory to a majority-in-interest of the participating Holders;

 

3.1.12     on the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion, dated such date, of counsel representing the Company for the purposes of such Registration, addressed to the Holders, the placement agent or sales agent, if any, and the Underwriters, if any, covering such legal matters with respect to the Registration in respect of which such opinion is being given as the Holders, placement agent, sales agent, or Underwriter may reasonably request and as are customarily included in such opinions and negative assurance letters, and reasonably satisfactory to a majority-in-interest of the participating Holders;

 

3.1.13     in the event of any Underwritten Offering or other coordinated offering that is registered pursuant to a Registration Statement, enter into and perform its obligations under an underwriting agreement, sales agreement or placement agreement, in usual and customary form, with the managing Underwriter, sales agent or placement agent of such offering;

 

3.1.14     make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor rule then in effect);

 

3.1.15     if the Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $50 million with respect to an Underwritten Offering pursuant to Section 2.1.4, use its reasonable efforts to make available senior executives of the Company to participate in customary “road show” presentations that may be reasonably requested by the Underwriter in such Underwritten Offering; and

 

3.1.16     otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders, in connection with such Registration.

 

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Notwithstanding the foregoing, the Company shall not be required to provide any documents or information to an Underwriter or other sales agent or placement agent if such Underwriter or other sales agent or placement agent has not then been named with respect to the applicable Underwritten Offering or other coordinated offering that is registered pursuant to a Registration Statement.

 

3.2          Registration Expenses. The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders that the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’ or agents’ commissions and discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of “Registration Expenses,” all reasonable fees and expenses of any legal counsel representing the Holders.

 

3.3          Requirements for Participation in Registration Statement Underwritten Offerings. Notwithstanding anything in this Agreement to the contrary, if any Holder does not provide the Company with its requested Holder Information, the Company may exclude such Holder’s Registrable Securities from the applicable Registration Statement or Prospectus if the Company determines, based on the advice of counsel, that such information is necessary to effect the registration and such Holder continues thereafter to withhold such information. No person may participate in any Underwritten Offering or other coordinated offering for equity securities of the Company pursuant to a Registration initiated by the Company hereunder unless such person (i) agrees to sell such person’s securities on the basis provided in any arrangements approved by the Company and (ii) completes and executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting or other agreements and other customary documents as may be reasonably required under the terms of such arrangements. The exclusion of a Holder’s Registrable Securities as a result of this Section 3.3 shall not affect the registration of the other Registrable Securities to be included in such Registration.

 

3.4          Suspension of Sales; Adverse Disclosure; Restrictions on Registration Rights.

 

3.4.1       Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the Holders shall forthwith discontinue disposition of Registrable Securities until it has received copies of a supplemented or amended Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement or amendment as soon as practicable after the time of such notice), or until it is advised in writing by the Company that the use of the Prospectus may be resumed.

 

3.4.2       If the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration at any time would (a) require the Company to make an Adverse Disclosure, (b) require the inclusion in such Registration Statement of financial statements that are unavailable to the Company for reasons beyond the Company’s control, or (c) in the good faith judgment of the majority of the Board such Registration, be seriously detrimental to the Company and the majority of the Board concludes as a result that it is essential to defer such filing, initial effectiveness or continued use at such time, the Company may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, such Registration Statement for the shortest period of time determined in good faith by the Company to be necessary for such purpose. In the event the Company exercises its rights under this Section 3.4.2, the Holders agree to suspend, immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any Registration in connection with any sale or offer to sell Registrable Securities.

 

3.4.3       (a) During the period starting with the date sixty (60) days prior to the Company’s good faith estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days after the effective date of, a Company-initiated Registration and provided that the Company continues to actively employ, in good faith, all reasonable efforts to maintain the effectiveness of the applicable Shelf

 

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Registration Statement, or (b) if, pursuant to Section 2.1.4, Holders have requested an Underwritten Shelf Takedown and the Company and such Holders are unable to obtain the commitment of underwriters to firmly underwrite such offering, the Company may, upon giving prompt written notice of such action to the Holders, delay any other registered offering pursuant to Section 2.1.4 or 2.4.

 

3.5          Reporting Obligations. As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange Act and to promptly furnish the Holders with true and complete copies of all such filings; provided that any documents publicly filed or furnished with the Commission pursuant to the Electronic Data Gathering, Analysis and Retrieval System shall be deemed to have been furnished or delivered to the Holders pursuant to this Section 3.5. The Company further covenants that it shall take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell shares of Common Stock held by such Holder without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act (or any successor rule then in effect). Upon the request of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer as to whether it has complied with such requirements.

 

ARTICLE IV
  INDEMNIFICATION AND CONTRIBUTION

 

4.1          Indemnification.

 

4.1.1       The Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers, directors and agents and each person who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and out-of-pocket expenses (including without limitation reasonable outside attorneys’ fees) resulting from any untrue or alleged untrue statement of material fact contained in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same are caused by or contained in any information or affidavit so furnished in writing to the Company by such Holder expressly for use therein.

 

4.1.2       In connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish to the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus (the “Holder Information”) and, to the extent permitted by law, shall indemnify the Company, its directors, officers and agents and each person who controls the Company (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and out-of-pocket expenses (including without limitation reasonable outside attorneys’ fees) resulting from any untrue or alleged untrue statement of material fact contained in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or omission is contained in any information or affidavit so furnished in writing by such Holder expressly for use therein; provided, however, that the obligation to indemnify shall be several, not joint and several, among such Holders of Registrable Securities, and the liability of each such Holder of Registrable Securities shall be in proportion to and limited to the net proceeds received by such Holder from the sale of Registrable Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall indemnify the Underwriters, their officers, directors and each person who controls such

 

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Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to indemnification of the Company.

 

4.1.3       Any person entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s right to indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement 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.

 

4.1.4       The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling person of such indemnified party and shall survive the transfer of securities. The Company and each Holder of Registrable Securities participating in an offering also agrees to make such provisions as are reasonably requested by any indemnified party for contribution to such party in the event the Company’s or such Holder’s indemnification is unavailable for any reason.

 

4.1.5       If the indemnification provided under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and out-of-pocket expenses referred to herein, then the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities and out-of-pocket expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by, or relates to information supplied by, such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent, knowledge, access to information and opportunity to correct or prevent such action; provided, however, that the liability of any Holder under this Section 4.1.5 shall be limited to the amount of the net proceeds received by such Holder in such offering giving rise to such liability. The amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in Sections 4.1.1, 4.1.2 and 4.1.3 above, any legal or other fees, charges or out-of-pocket expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 4.1.5 were determined by pro rata allocation or by any other method of allocation, which does not take account of the equitable considerations referred to in this Section 4.1.5. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this Section 4.1.5 from any person who was not guilty of such fraudulent misrepresentation.

 

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ARTICLE V
  MISCELLANEOUS

 

5.1          Notices. All notices and other communications among the parties shall be in writing and shall be deemed to have been duly given (i) when delivered in person, (ii) when delivered after posting in the United States mail having been sent registered or certified mail return receipt requested, postage prepaid, (iii) when delivered by FedEx or other nationally recognized overnight delivery service or (iv) when e-mailed during normal business hours (and otherwise as of the immediately following Business Day), addressed as follows.  Any notice or communication under this Agreement must be addressed, if to the Company, to 63 Third Avenue, Burlington, Massachusetts, 01803, Attention: General Counsel and Chief Financial Officer, Email: meg.broderick@desktopmetal.com; elizabeth.linardos@desktopmetal.com, and, if to any Holder, at such Holder’s address or facsimile number as set forth in the Company’s books and records. Any party may change its address for notice at any time and from time to time by written notice to the other parties hereto, and such change of address shall become effective thirty (30) days after delivery of such notice as provided in this Section 5.1.

 

5.2          Assignment; No Third Party Beneficiaries.

 

5.2.1       This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole or in part.

 

5.2.2       A Holder may assign or delegate such Holder’s rights, duties or obligations under this Agreement, in whole or in part, to any person to whom it transfers Registrable Securities; provided that such Registrable Securities remain Registrable Securities following such transfer and such person agrees to become bound by the terms and provisions of this Agreement.

 

5.2.3       No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the Company unless and until the Company shall have received (i) written notice of such assignment as provided in Section 5.1 hereof and (ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement).

 

5.2.4       Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective permitted successors and assigns.  Any attempted assignment in violation of the terms of this Section 5.02 shall be null and void, ab initio.

 

5.2.5       This Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in this Agreement and Section 5.2 hereof.

 

5.3          Captions; Counterparts. The captions in this Agreement are for convenience only and shall not be considered a part of or affect the construction or interpretation of any provision of this Agreement.  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.

 

5.4          Governing Law. THIS AGREEMENT, AND ALL CLAIMS OR CAUSES OF ACTION BASED UPON, ARISING OUT OF, OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO PRINCIPLES OR RULES OF CONFLICT OF LAWS TO THE EXTENT SUCH PRINCIPLES OR RULES WOULD REQUIRE OR PERMIT THE APPLICATION OF LAWS OF ANOTHER JURISDICTION.

 

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5.5          Jurisdiction; Waiver of Jury Trial.

 

5.5.1       Any Action based upon, arising out of or related to this Agreement, or the transactions contemplated hereby, shall be brought in the Court of Chancery of the State of Delaware or, if such court declines to exercise jurisdiction, any federal or state court located in New York County, New York, and each of the parties irrevocably submits to the exclusive jurisdiction of each such court in any such Action, waives any objection it may now or hereafter have to personal jurisdiction, venue or to convenience of forum, agrees that all claims in respect of the Action shall be heard and determined only in any such court, and agrees not to bring any Action arising out of or relating to this Agreement or the transactions contemplated hereby in any other court.  Nothing herein contained shall be deemed to affect the right of any party to serve process in any manner permitted by Law, or to commence legal proceedings or otherwise proceed against any other party in any other jurisdiction, in each case, to enforce judgments obtained in any Action brought pursuant to this Section 5.5.1.

 

5.5.2       EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION BASED UPON, ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

5.6          Amendments and Modifications. Upon the written consent of (a) the Company and (b) the Holders of a majority of the total Registrable Securities, compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived, or any of such provisions, covenants or conditions may be amended or modified; provided, however, that in the event any such waiver, amendment or modification would be adverse in any material respect to the material rights or obligations hereunder of a Holder of at least five (5.0%) percent of the Registrable Securities, the written consent of such Holder will also be required; provided further that in the event any such waiver, amendment or modification would be disproportionate and adverse in any material respect to the material rights or obligations hereunder of a Holder, the written consent of such Holder will also be required. No course of dealing between any Holder or the Company and any other party hereto or any failure or delay on the part of a Holder or the Company in exercising any rights or remedies under this Agreement shall operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under this Agreement by a party shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder by such party.

 

5.7          Termination of Existing Registration Rights. The registration rights granted under this Agreement shall supersede any registration, qualification or similar rights of the Holders with respect to any shares or securities of Trine or Legacy DM granted under any other agreement, including, but not limited to, the Original RRA and the Fourth Amended and Restated Investors’ Rights Agreement, dated as of January 14, 2019, by and among Legacy DM, each of the investors listed on Schedule A thereto, and Future Fund Investment Company No.4 Pty Ltd., and any of such preexisting registration, qualification or similar rights and such agreements shall be terminated and of no further force and effect.

 

5.8          Term. This Agreement shall terminate with respect to any Holder on the date that such Holder no longer holds any Registrable Securities. The provisions of Section 3.5 and Article IV shall survive any termination.

 

5.9          Holder Information. Each Holder agrees, if requested in writing, to represent to the Company the total number of Registrable Securities held by such Holder in order for the Company to make determinations hereunder.

 

[SIGNATURE PAGES FOLLOW]

 

17

 

IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed as of the date first written above.

 

	
 
    	
TRINE ACQUISITION CORP.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Pierre Henry
    
	
 
    	
 
    	
Name:   Pierre Henry
    
	
 
    	
 
    	
Title:    Chief Financial Officer
    

 

[Signature Page to Registration Rights Agreement]

 

 

IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed as of the date first written above.

 

	
 
    	
HOLDERS:
    
	
 
    	
 
    
	
 
    	
Trine Sponsor IH, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Pierre Henry
    
	
 
    	
 
    	
Name: Pierre Henry
    
	
 
    	
 
    	
Title: CFO/EVP
    

 

	
 
    	
/s/ Leo   Hindery, Jr.
    
	
 
    	
Leo Hindery, Jr.
    
	
 
    	
 
    
	
 
    	
/s/ M.   Ian G. Gilchrist
    
	
 
    	
M. Ian G. Gilchrist
    
	
 
    	
 
    
	
 
    	
/s/ Pierre   M. Henry
    
	
 
    	
Pierre M. Henry
    
	
 
    	
 
    
	
 
    	
/s/ Mark   J. Coleman
    
	
 
    	
Mark J. Coleman
    
	
 
    	
 
    
	
 
    	
/s/ Josephine   Linden
    
	
 
    	
Josephine Linden
    
	
 
    	
 
    
	
 
    	
/s/ Marc   Nathanson
    
	
 
    	
Marc Nathanson
    
	
 
    	
 
    
	
 
    	
/s/ Kent   R. Sander
    
	
 
    	
Kent R. Sander
    
	
 
    	
 
    
	
 
    	
/s/ Tom   Wasserman
    
	
 
    	
Tom Wasserman
    
	
 
    	
 
    
	
 
    	
/s/ Abbas   F. Zuaiter
    
	
 
    	
Abbas F. Zuaiter
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/ Yves A. Behar
    
	
 
    	
Yves A. Behar
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Bolt   Fund II LP
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Axel Bichara
    
	
 
    	
 
    	
Name:   Axel Bichara
    
	
 
    	
 
    	
Title:   General Partner
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Crashfund,   LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jeff Seibert
    
	
 
    	
 
    	
Name:   Jeff Seibert
    
	
 
    	
 
    	
Title:   Manager
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Data Collective   III, L.P.,
    
	
 
    	
on behalf of itself and   as nominee for certain affiliated entities
    
	
 
    	
 
    
	
 
    	
By: Data Collective III   GP, LLC, its general partner
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Zachary Bogue
    
	
 
    	
 
    	
Name: Zachary Bogue
    
	
 
    	
 
    	
Title: Managing Member
    
				

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
DCVC   OPPORTUNITY FUND II, L.P.
    
	
 
    	
on behalf of itself and   as nominee for certain affiliated entities
    
	
 
    	
 
    
	
 
    	
By: DCVC Opportunity Fund II GP, LLC
    
	
 
    	
Its: General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Zachary Bogue
    
	
 
    	
Name:
    	
Zachary Bogue
    
	
 
    	
Title:
    	
Managing Member
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/ Elizabeth Hitchcock
    
	
 
    	
Elizabeth Hitchcock
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Ford   Motor Company
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Gary A. Johnson
    
	
 
    	
 
    	
Name:
    	
Gary A. Johnson
    
	
 
    	
 
    	
Title:
    	
Chief Manufacturing   & Labor Affairs Officer
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Founder Collective II, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Eric Paley
    
	
 
    	
 
    	
Name:
    	
Eric Paley
    
	
 
    	
 
    	
Title:
    	
Managing Member
    
	
 
    	
 
    
	
 
    	
Founder Collective   Entrepreneurs’ Fund II, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Eric Paley
    
	
 
    	
 
    	
Name:
    	
Eric Paley
    
	
 
    	
 
    	
Title:
    	
Managing Member
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Founding   Pillar Fund, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jamie Goldstein
    
	
 
    	
 
    	
Name:
    	
Jamie Goldstein
    
	
 
    	
 
    	
Title:
    	
Founder
    

 

[Signature Page to Registration Rights Agreement]

 

 

 

 

	
 
    	
GV   2016, L.P.
    
	
 
    	
 
    
	
 
    	
By: GV 2016 GP, L.P.,   its general partner
    
	
 
    	
 
    
	
 
    	
By: GV 2016 GP, L.L.C.,   its general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Daphne Chang
    
	
 
    	
 
    	
Name: Daphne Chang
    
	
 
    	
 
    	
Title: Authorized   Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
GV   2017, L.P.
    
	
 
    	
 
    
	
 
    	
By: GV 2017 GP, L.P.,   its general partner
    
	
 
    	
 
    
	
 
    	
By: GV 2017 GP, L.L.C.,   its general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Daphne Chang
    
	
 
    	
 
    	
Name: Daphne Chang
    
	
 
    	
 
    	
Title: Authorized   Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
GV   2019, L.P.
    
	
 
    	
 
    
	
 
    	
By: GV 2019 GP, L.P.,   its general partner
    
	
 
    	
 
    
	
 
    	
By: GV 2019 GP, L.L.C.,   its general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Daphne Chang
    
	
 
    	
 
    	
Name: Daphne Chang
    
	
 
    	
 
    	
Title: Authorized   Signatory
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/ Jeff Fagnan
    
	
 
    	
Jeff Fagnan
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
KDT   DESKTOP METAL HOUSING
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Knight, Byron L
    
	
 
    	
 
    	
Name:
    	
Knight,   Byron L
    
	
 
    	
 
    	
Title:
    	
Managing   Director
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
KPCB Holdings, Inc., as nominee
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Susan Biglieri
    
	
 
    	
 
    	
Name: Susan Biglieri
    
	
 
    	
 
    	
Title: COO/CFO
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Lux   Ventures IV, L.P.
    
	
 
    	
 
    
	
 
    	
By: Lux Venture   Partners, LLC, its general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Peter Hebert
    
	
 
    	
 
    	
Name: Peter Hebert
    
	
 
    	
 
    	
Title: Managing   Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Lux   Co-Invest Opportunities, L.P.
    
	
 
    	
 
    
	
 
    	
By:   Lux Co-Invest Partners, LLC, its general partner
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Peter Hebert
    
	
 
    	
 
    	
Name: Peter Hebert
    
	
 
    	
 
    	
Title: Managing   Director
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Magmanor   , L.L.C.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Warren Hogarth
    
	
 
    	
 
    	
Name:
    	
Warren   Hogarth
    
	
 
    	
 
    	
Title:
    	
Member
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/ Michael L. Volpe
    
	
 
    	
Michael L. Volpe
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Moonrise Venture Partners I LP
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Donald T Pascal 
    
	
 
    	
 
    	
Name:   
    	
Donald T Pascal 
    
	
 
    	
 
    	
Title: 
    	
Managing   Member of Moonrise Venture Partners GP I LLC, general partner
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
New Enterprise Associates 15, L.P.
    
	
 
    	
 
    
	
 
    	
By:   NEA Partners 15, L.P., its general partner
    
	
 
    	
 
    
	
 
    	
By:   NEA 15 GP, LLC, its general partner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Stephanie S. Brecher
    
	
 
    	
 
    	
Name:   Stephanie S. Brecher
    
	
 
    	
 
    	
Title:   General Counsel
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
NEA Ventures 2015, Limited Partnership
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Louis S. Citron
    
	
 
    	
 
    	
Name:   Louis S. Citron
    
	
 
    	
 
    	
Title:   Vice-President
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Panasonic Ventures, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Carey Lai
    
	
 
    	
 
    	
Name:
    	
Carey Lai
    
	
 
    	
 
    	
Title:
    	
President
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/ Ric Fulop
    
	
 
    	
Ric Fulop
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Riot Ventures Opportunity II-A, L.P.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Stephen Marcus
    
	
 
    	
 
    	
Name:   Stephen Marcus
    
	
 
    	
 
    	
Title:    General   Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Riot Ventures Opportunity II-B, LLC
    
	
 
    	
 By: PROOF GP, LLC
    
	
 
    	
 Its: Manager 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Thanasis Delistathis
    
	
 
    	
 
    	
Name:   Thanasis Delistathis
    
	
 
    	
 
    	
Title:   Managing Member
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Riot Ventures Opportunity P, LLC
    
	
 
    	
 By: PROOF GP, LLC
    
	
 
    	
 Its: Manager 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Thanasis Delistathis
    
	
 
    	
 
    	
Name:   Thanasis Delistathis
    
	
 
    	
 
    	
Title:   Managing Member
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
SAEV Guernsey Holdings Limited
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Mahdi Aladel
    
	
 
    	
 
    	
Name:   Mahdi Aladel
    
	
 
    	
 
    	
Title:   Chief Executive Officer
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Vertex Ventures US Fund I, L.P.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jonathan Heiliger
    
	
 
    	
 
    	
Name:   Jonathan Heiliger
    
	
 
    	
 
    	
Title:   Manager
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Executed by Future Fund Investment Company No.4 Pty Ltd   (ABN 134 338 908) by its attorney under power of attorney dated July 10, 2019   (who, by signing, confirms they have received no notice of revocation of that   power):
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Kylie Yong
    
	
 
    	
 
    	
Name:   
    	
Kylie   Yong
    
	
 
    	
 
    	
Title: 
    	
Company Secretary
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
EXECUTED   on behalf of THE NORTHERN TRUST COMPANY (ABN 62 126 279 918), a   company incorporated in the State of Illinois in the United States of   America, solely in its capacity as custodian for Future Fund Investment   Company No.4 Pty Ltd (ABN 134 338 908); provided, that The Northern Trust   Company (ABN 62 126 279 918) (the “FF Investor”) enters into and is liable   under this Agreement only in its capacity as custodian for the Future Fund   Investment Company No.4 Pty Ltd (ACN 134 338 908) (the “FF Beneficial   Investor”), and to the extent that the FF Investor is actually indemnified by   the FF Beneficial Investor; provided, further that, to the extent this   provision operates to reduce the amounts for which the FF Investor would   otherwise be liable to any person, the FF Beneficial Investor will pay or   procure the payment of such amounts to such person.
    	
)

)

)

)

)

)

)

)

)

)

)

)

)

)
    	
 
    
	
 
    	
 
    	
/s/ James McLaren
    
	
by

JAMES  MCLAREN

 
    	
 
    	
By executing this agreement the signatory warrants that the signatory   is duly authorized to execute this agreement on behalf of THE NORTHERN TRUST COMPANY
    
	
being a person who, in   accordance with the laws of that territory, is acting under the authority of the   company.
    	
 
    	
 
    
	
 
    	
 
    	
 
    

 

[Signature Page to Amended and Restated Registration Rights Agreement]

 

 

	
 
    	
Ric Fulop - Bluebird Trust
    
	
 
    	
 
    
	
 
    	
BLUEBIRD TRUST
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Steven Papa
    
	
 
    	
Name:
    	
Steven   Papa
    
	
 
    	
Title:   
    	
Trustee
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Ric Fulop - Khaki Campbell Trust
    
	
 
    	
 
    
	
 
    	
KHAKI CAMPBELL TRUST
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Steven Papa
    
	
 
    	
Name:
    	
Steven   Papa
    
	
 
    	
Title:   
    	
Trustee
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Ric Fulop - Red Tailed Hawk Trust
    
	
 
    	
 
    
	
 
    	
RED TAILED HAWK TRUST
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Steven Papa
    
	
 
    	
Name:
    	
Steven   Papa
    
	
 
    	
Title:   
    	
Trustee
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
Entrepreneur America Mentors, LLC
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Theresa W. Ryan
    
	
 
    	
 
    	
Name:   Theresa W. Ryan
    
	
 
    	
 
    	
Title:   Managing Member
    

 

[Signature Page to Registration Rights Agreement]

 

 

Schedule A

 

Sponsor Equityholders

 

Trine Sponsor 1H LLC

Leo Hindery, Jr.

Ian G. Gilchrist

Mark J. Coleman

Pierre M. Henry

Josephine Linden

Marc Nathanson

Kent R. Sander

Tom Wasserman

Abbas F. Zuaiter

 

 

Schedule B

 

DM Equityholders

 

GV 2016, L.P.

GV 2017, L.P.

GV 2019, L.P.

New Enterprise Associates 15, L.P.

NEA Ventures 2015, Limited Partnership 

Lux Ventures IV, L.P.

Lux Co-Invest Opportunities, L.P. 

KPCB Holdings, Inc., as nominee 

Entrepreneur America Mentors, LLC 

Founder Collective II, L.P.

Founder Collective Entrepreneurs’ Fund II, L.P 

Stratasys Ltd.

Bolt Fund II LP

Data Collective III, L.P. 

The LAUNCH Fund I LP 

Magmanor, L.L.C. 

Michael L. Volpe 

Andrew H. Palmer 

Crashfund, LLC 

Elizabeth Hitchcock 

Pillar I, L.P.

Founding Pillar Fund, LLC 

Carmichael Roberts

Rich D’Amore 

James M. Moran 

PI Investors, LLC 

Yves A. Behar

SAEV Guernsey Holdings Limited 

GE Ventures Limited

Tyche Partners, L.P.

Tyche Partners II, L.P.

Lowe’s Companies, Inc.

BMW i Ventures LLC

SCGC Capital Holding Company Limited

The Northern Trust Company (ABN 62 126 279 918) in its capacity as custodian for the Future Fund 

Investment Company No.4 Pty Ltd (ACN 134 338 908)

Panasonic Ventures, LLC 

Moonrise Venture Partners I LP 

DCVC Opportunity Fund II, L.P. 

Vertex Ventures US Fund I, L.P. 

Techtronic Industries Co., Ltd. 

Jeffrey Immelt

Koch Disruptive Technologies, LLC 

Riot Ventures Opportunity II-A, L.P. 

Riot Ventures Opportunity II-B, LLC 

Riot Ventures Opportunity P, LLC

Bluebird Trust

Khaki Campbell Trust 

Red Tailed Hawk Trust

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