Document:

Exhibit
4.1

 

THIS
UNSECURED CONVERTIBLE PROMISSORY NOTE (THIS “NOTE”) AND THE SECURITIES ISSUABLE UPON THE CONVERSION HEREOF HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE SOLD, TRANSFERRED,
ASSIGNED, PLEDGED OR HYPOTHECATED EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S PROMULGATED UNDER THE SECURITIES ACT,
PURSUANT TO REGISTRATION UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION. HEDGING TRANSACTIONS
INVOLVING THE SECURITIES REPRESENTED HEREBY MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.

 

THE
ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE OR TRANSFER
OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR LAWS OF ANY OTHER RELEVANT COUNTRY.

 

UNSECURED
CONVERTIBLE PROMISSORY NOTE

 

	US$4,894,116.76	September
    4, 2020

Boston,
Massachusetts

 

For
value received, GI Dynamics, Inc., a Delaware
corporation (“Payor”), hereby promises to pay to the order of Crystal
Amber Fund Limited (the “Holder”), an aggregate principal sum of US$4,894,116.76 or such
greater amount as shall become due, with interest on the outstanding principal amount at the rate of five percent (5%) per annum.
Interest (i) shall commence on the date hereof and shall be compounded annually based on a 365-day year, and (ii) shall continue
on the outstanding principal until paid in full or, if permitted by the terms of this Unsecured Convertible Promissory Note (this
“Note”), converted pursuant to Section 2 below.

 

1. Payment
and Maturity

 

(a) Reference
is hereby made to the Note Exchange and Warrant Cancellation Agreement (the “Exchange Agreement”), dated
as of September 4, 2020, between Payor and the Holder. Capitalized terms used herein and not otherwise defined herein shall have
the respective meanings given to them in the Exchange Agreement.

 

(b) If
this Note has not already been paid in full or otherwise converted pursuant to Section 2 below, the entire outstanding
principal balance of this Note and all unpaid accrued interest thereon shall be due and payable on June 30, 2022 (the “Maturity
Date”). All payments of interest and principal shall be in lawful money of the United States of America except as
set forth in Section 2(a) hereof. All payments shall be applied first to accrued interest, and thereafter to principal.
If any payments on this Note become due on a Saturday, Sunday or a public holiday under the laws of the State of New York, such
payment shall be made on the next succeeding business day and such extension of time shall be included in computing interest in
connection with such payment.

 

    1

     

    

 

(c) Upon
the occurrence and during the continuance of any Event of Default, the principal balance of this Note shall bear interest at the
rate of eight percent (8%) per annum, including after the commencement of, and during the pendency of, any bankruptcy or other
insolvency proceeding.

 

2. Conversion

 

(a) Optional
Conversion. The Holder shall have the option (the “Conversion Option”), but not the obligation,
at any time after the date hereof and prior to the Maturity Date, exercisable upon written notice to Payor, to (a) convert all
(but not less than all) of the then outstanding unpaid principal amount of this Note together with any interest accrued but unpaid
thereon (such principal amount and interest, the “Outstanding Amount”) into the number of shares of
Common Stock (the “Conversion Shares”) equal to the quotient obtained by dividing (x) the Outstanding
Amount by (y) 200% of the initial purchase price per share in the Series A Preferred Stock financing with gross proceeds of not
less than US$10 million in the aggregate, pursuant to the terms and subject to the conditions of the Purchase Agreement (the “Conversion
Price”).

 

(b) Fractional
Shares; Conversion Price Adjustment. No fractional shares of Payor’s capital stock will be issued upon conversion of
this Note. In lieu of any fractional share to which the Holder would otherwise be entitled, Payor will pay to the Holder in cash
the amount of the unconverted principal and interest balance of this Note that would otherwise be converted into such fractional
share. Without limiting any provision hereof, if Payor at any time on or after the date hereof subdivides (by any stock split,
stock dividend, recapitalization or otherwise) one or more classes of its outstanding shares of Common Stock into a greater number
of shares, the Conversion Price in effect immediately prior to such subdivision will be proportionately reduced. Without limiting
any provision hereof, if Payor at any time on or after the date hereof combines (by combination, reverse stock split or otherwise)
one or more classes of its outstanding shares of Common Stock into a smaller number of shares, the Conversion Price in effect
immediately prior to such combination will be proportionately increased. Any adjustment pursuant to this Section 2(b)
shall become effective immediately after the effective date of such subdivision or combination.

 

(c) Holder
Representations and Warranties; Transfer and Assignment. The representations and warranties and rights and obligations of
transfer and assignment of Holder that are set forth in Section 4 of the Exchange Agreement with respect to the Conversion Shares
issuable to Holder are hereby made a part of this Note and incorporated herein by this reference.

 

3. Default;
Remedies

 

(a) The
occurrence of any Event of Default described in Section 5.1 of the Exchange Agreement shall be an Event of Default hereunder.

 

(b) Upon
the occurrence and during the continuance of any Event of Default (other than an Event of Default described in Sections 5.1(b)
or 5.1(c) of the Exchange Agreement), all unpaid principal on this Note, accrued and unpaid interest thereon and all other amounts
owing hereunder shall, at the option of the Holder, and, upon the occurrence of any Event of Default pursuant to Sections 5.1(b)
or 5.1(c) of the Exchange Agreement, automatically, be immediately due, payable and collectible by Holder pursuant to applicable
law.

 

    2

     

    

 

(c) Upon
the occurrence and during the continuance of any Event of Default, Payor shall pay, on demand, all reasonable attorneys’
fees and court costs incurred by Holder in enforcing and collecting this Note.

 

4. Prepayment.
Payor may not prepay this Note prior to the Maturity Date without the consent of the Holder.

 

5. Waiver;
Payment of Fees and Expenses. Payor waives presentment and demand for payment, notice of dishonor, protest and notice
of protest of this Note, and shall pay all costs of collection when incurred, including, without limitation, reasonable attorneys’
fees, costs and other expenses. The right to plead any and all statutes of limitations as a defense to any demands hereunder is
hereby waived to the full extent permitted by law. No delay by the Holder shall constitute a waiver, election or acquiescence
by it.

 

6. Cumulative
Remedies. The Holder’s rights and remedies under this Note and the Exchange Agreement shall be cumulative. No
exercise by the Holder of one right or remedy shall be deemed an election, and no waiver the by Holder of any Event of Default
shall be deemed a continuing waiver of such Event of Default or the waiver of any other Event of Default.

 

7. Miscellaneous

 

(a) Governing
Law. The terms of this Note shall be construed in accordance with the laws of the State of New York, as applied to contracts
entered into by New York residents within the State of New York, and to be performed entirely within the State of New York.

 

(b) Exclusive
Jurisdiction. All actions and proceedings arising out of, or relating to, this Agreement shall be heard and determined in
any state or federal court sitting in the State of New York, County of New York. The undersigned, by execution and delivery of
this Agreement, expressly and irrevocably (i) consent and submit to the personal jurisdiction of any of such courts in any such
action or proceeding; and (ii) waive any claim or defense in any such action or proceeding based on any alleged lack of personal
jurisdiction, improper venue or forum non conveniens or any similar basis.

 

(c) Successors
and Assigns; Assignment. The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective
successors and assigns of the parties. Payor may not assign this Note or delegate any of its obligations hereunder without the
written consent of the Holder. The Holder may assign this Note and its rights hereunder without the consent of Payor, subject
to compliance with Section 4 of the Exchange Agreement.

 

(d) Titles
and Subtitles. The titles and subtitles used in this Note are used for convenience only and are not to be considered in construing
or interpreting this Note.

 

(e) Notices.
All notices required or permitted hereunder by the Holder of this Note to Payor shall be in writing and shall be deemed effectively
given: (a) upon personal delivery to the principal offices of Payor, to the attention of the Chief Executive Officer, (b)
five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (c) one
(1) day after deposit with a nationally recognized overnight courier, specifying next day delivery. Any refusal of delivery of
a notice by Payor shall be deemed to have been delivered.

 

    3

     

    

 

(f) Amendment;
Modification; Waiver. No term of this Note may be amended, modified or waived without the written consent of Payor and the
Holder.

 

(g) Counterparts.
This Note may be executed in two or more counterparts, each of which shall be deemed and original, but all of which together shall
constitute one and the same instrument.

 

(h) No
Voting Rights. This Note does not carry any voting rights at stockholder meetings of Payor without first converting the Note.

 

(i) No
Participation Rights. The Holder is not by virtue of holding this Note entitled to participate in any new issue of securities
made by Payor to stockholders.

 

(j) Equal
Ranking. The Common Stock issued pursuant to a conversion of this Note will rank, from the date of issue, equally with the
existing shares of Common Stock, respectively, of Payor in all respects.

 

[Signature
page follows]

 

    4

     

    

 

In
Witness Whereof, the parties have executed
this Unsecured Convertible Promissory Note as of the date first written above.

 

	 	GI Dynamics, Inc.
	 	 	 
	 	By:	/s/
    Scott Schorer             
	 	Name: Scott Schorer
	 	Title:   Chief Executive Officer

 

Agreed
to and Accepted:

 

Crystal
Amber Fund Limited

 

	By:	/s/ Mark Huntley	

Name:
Mark Huntley

Title: Director

Executed by Crystal Amber Asset Management (Guernsey) Ltd 

as
Investment Manager of Crystal Amber Fund Limited

 

 

[Signature
Page to Unsecured Promissory Note]

  

    5Exhibit 10.1

 

 

 

  

 

 

GI
DYNAMICS, INC.

 

VOTING AGREEMENT

 

 

 

 

 

    

     

    

 

 TABLE
OF CONTENTS

 

	 	Page
	1.   Voting
    Provisions Regarding the Board	1
	1.1   Size
    of the Board	1
	1.2   Board
    Composition	1
	1.3   Failure
    to Designate a Board Member	2
	1.4   Removal
    of Board Members	2
	1.5   No
    Liability for Election of Recommended Directors	3
	1.6   No
    “Bad Actor” Designees	3
	 	 
	2.   Vote
    to Increase Authorized Common Stock	3
	 	 
	3.   Drag-Along
    Right	4
	3.1   Definitions	4
	3.2   Actions
    to be Taken	4
	3.3   Conditions	5
	3.4   Restrictions
    on Sales of Control of the Company	7
	 	 
	4.   Remedies	7
	4.1   Covenants
    of the Company	7
	4.2   Irrevocable
    Proxy and Power of Attorney	8
	4.3   Specific
    Enforcement	8
	4.4   Remedies
    Cumulative	8
	 	 
	5.   “Bad
    Actor” Matters.	8
	5.1   Definitions	8
	5.2   Representations	9
	5.3   Covenants	9
	 	 
	6.   Term	10
	 	 
	7.   Miscellaneous	10
	7.1   Additional
    Parties	10
	7.2   Transfers	10
	7.3   Successors
    and Assigns	11
	7.4   Governing
    Law	11
	7.5   Counterparts	11
	7.6   Titles
    and Subtitles	11
	7.7   Notices	11
	7.8   Consent
    Required to Amend, Modify, Terminate or Waive	12
	7.9   Delays
    or Omissions	13
	7.10   Severability	13
	7.11   Entire
    Agreement	13
	7.12   Share
    Certificate Legend	13
	7.13   Stock
    Splits, Stock Dividends, etc.	14
	7.14   Manner
    of Voting	14
	7.15   Further
    Assurances	14
	7.16   Dispute
    Resolution	14
	7.17   Costs
    of Enforcement	14
	7.18   Aggregation
    of Stock	15
	7.19   Spousal
    Consent	15

 

Schedule
A - Investors

Schedule B - Key Holders

Exhibit
A - Adoption Agreement 

Exhibit B - Consent of Spouse

 

    i

     

    

 

VOTING
AGREEMENT

 

THIS
VOTING AGREEMENT (this “Agreement”), is made and entered into as of this 4th day of September, 2020, by
and among GI Dynamics, Inc., a Delaware corporation (the “Company”), each holder of Series A Preferred
Stock, $0.01 par value per share, of the Company (“Series A Preferred Stock”) listed on Schedule A
(together with any subsequent investors, or transferees, who become parties hereto as “Investors” pursuant to Subsections
7.1(a) or 7.2 below, the “Investors”), and those certain holders of common stock, $0.01 par
value per share, of the Company (“Common Stock”) listed on Schedule B (together with any subsequent
stockholders, or any transferees, who become parties hereto as “Key Holders” pursuant to Subsections
7.1(b) or 7.2 below, the “Key Holders,” and, collectively with the Investors, the
“Stockholders”).

 

RECITALS

 

A.
The Company and the Investors are parties to that certain Series A Preferred Stock Purchase Agreement, dated as of August 10,
2020 (the “Purchase Agreement”), which provides for the sale of shares of Series A Preferred Stock, and in
connection with that agreement the parties desire to provide the Investors with the right, among other rights, to designate the
election of certain members of the board of directors of the Company (the “Board”) in accordance with the terms
of this Agreement.

 

B.
The parties also desire to enter into this Agreement to set forth their agreements and understandings with respect to how shares
of the capital stock of the Company held by them will be voted on, or tendered in connection with, an acquisition of the Company
or an increase in the number of shares of Common Stock required to provide for the conversion of Series A Preferred Stock.

 

NOW,
THEREFORE, the parties agree as follows:

 

1.
Voting Provisions Regarding the Board.

 

1.1
Board Composition. For purposes of this Agreement, the term “Shares” shall mean and include any securities
of the Company that the holders of which are entitled to vote for members of the Board, including without limitation, all shares
of Common Stock and Series A Preferred Stock, by whatever name called, now owned or subsequently acquired by a Stockholder, however
acquired, whether through stock splits, stock dividends, reclassifications, recapitalizations, similar events or otherwise. Each
Stockholder agrees to vote, or cause to be voted, all Shares owned by such Stockholder, or over which such Stockholder has voting
control, from time to time and at all times, in whatever manner as shall be necessary to ensure that at each annual or special
meeting of stockholders at which an election of directors is held or pursuant to any written consent of the stockholders, subject
to Section 5, the following persons shall be elected to the Board:

 

(a)
One person designated from time to time by Crystal Amber Fund Limited (“Crystal Amber”), for so long as
such Stockholder and its Affiliates (as defined below) continue to own beneficially at 5,000,000 shares of Common Stock
(including shares of Common Stock issued or issuable upon conversion of Series A Preferred Stock), which number is subject to appropriate
adjustment for any stock splits, stock dividends, combinations, recapitalizations and the like), which individual shall
initially be Mark Lerdal;

 

    1

     

    

 

(b)
One person, who is not otherwise involved in the management of Crystal Amber, designated from time to time by Crystal Amber, for
so long as such Stockholder and its Affiliates (as defined below) continue to own beneficially at least 5,000,000 shares of Common
Stock (including shares of Common Stock issued or issuable upon conversion of Series A Preferred Stock), which number is subject
to appropriate adjustment for any stock splits, stock dividends, combinations, recapitalizations and the like).

 

To
the extent that any of the clauses (a) and (b) above shall not be applicable, any member of the Board who would otherwise have
been designated in accordance with the terms thereof shall instead be voted upon by all the stockholders of the Company entitled
to vote thereon in accordance with, and pursuant to, the Seventh Amended and Restated Certificate of Incorporation of the Company
(the “Restated Certificate”).

 

For
purposes of this Agreement, an individual, firm, corporation, partnership, association, limited liability company, trust or any
other entity (collectively, a “Person”) shall be deemed an “Affiliate” of another Person
who, directly or indirectly, controls, is controlled by or is under common control with such Person, including, without limitation,
any general partner, managing member, officer, director or trustee of such Person, or any venture capital fund or registered investment
company now or hereafter existing that is controlled by one or more general partners, managing members or investment advisers
of, or shares the same management company or investment adviser with, such Person.

 

1.2
Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate
a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible
and willing to serve as provided herein and otherwise, such Board seat shall remain vacant.

 

1.3
Removal of Board Members. Each Stockholder also agrees to vote, or cause to be voted, all Shares owned by such Stockholder,
or over which such Stockholder has voting control, from time to time and at all times, in whatever manner as shall be necessary
to ensure that:

 

(a)
no director elected pursuant to Subsections 1.2 or 1.3 of this Agreement may be removed from office unless (i)
such removal is directed or approved by the affirmative vote of the Person(s) entitled under Subsection 1.2 to
designate that director; or (ii) the Person(s) originally entitled to designate or approve such director or occupy such Board
seat pursuant to Subsection 1.2 is no longer so entitled to designate or approve such director or occupy such
Board seat;

 

(b)
any vacancies created by the resignation, removal or death of a director elected pursuant to Subsections 1.2 or 1.3
shall be filled pursuant to the provisions of this Section 1; and

 

    2

     

    

 

(c)
upon the request of any party entitled to designate a director as provided in Subsection 1.2(a) or 1.2(b) to remove
such director, such director shall be removed.

 

All
Stockholders agree to execute any written consents required to perform the obligations of this Section 1, and the Company
agrees at the request of any Person or group entitled to designate directors to call a special meeting of stockholders for the
purpose of electing directors.

 

1.4
No Liability for Election of Recommended Directors. No Stockholder, nor any Affiliate of any Stockholder, shall have any
liability as a result of designating a person for election as a director for any act or omission by such designated person in
his or her capacity as a director of the Company, nor shall any Stockholder have any liability as a result of voting for any such
designee in accordance with the provisions of this Agreement.

 

1.5
No “Bad Actor” Designees. Each Person with the right to designate or participate in the designation of a director
as specified above hereby represents and warrants to the Company that, to such Person’s knowledge, none of the “bad
actor” disqualifying events described in Rule 506(d)(1)(i)-(viii) under the Securities Act of 1933, as amended (the “Securities
Act”) (each, a “Disqualification Event”), is applicable to such Person’s initial designee named
above except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable. Any
director designee to whom any Disqualification Event is applicable, except for a Disqualification Event to which Rule 506(d)(2)(ii)
or (iii) or (d)(3) is applicable, is hereinafter referred to as a “Disqualified Designee.” Each Person with
the right to designate or participate in the designation of a director as specified above hereby covenants and agrees (A) not
to designate or participate in the designation of any director designee who, to such Person’s knowledge, is a Disqualified
Designee and (B) that in the event such Person becomes aware that any individual previously designated by any such Person is or
has become a Disqualified Designee, such Person shall as promptly as practicable take such actions as are necessary to remove
such Disqualified Designee from the Board and designate a replacement designee who is not a Disqualified Designee.

 

2.
Vote to Increase Authorized Common Stock. Each Stockholder agrees to vote or cause to be voted all Shares owned by such
Stockholder, or over which such Stockholder has voting control, from time to time and at all times, in whatever manner as shall
be necessary to increase the number of authorized shares of Common Stock from time to time to ensure that there will be sufficient
shares of Common Stock available for conversion of all of the shares of Series A Preferred Stock outstanding at any given time.

 

3.
Drag-Along Right.

 

3.1
Definitions. A “Sale of the Company” shall mean either: (a) a transaction or series of related transactions
in which a Person, or a group of related Persons acquires from stockholders of the Company, shares representing more than fifty
percent (50%) of the outstanding voting power of the Company (a “Stock Sale”) or (b) a transaction that qualifies
as a “Deemed Liquidation Event” as defined in the Restated Certificate.

 

    3

     

    

 

3.2 Actions
to be Taken. In the event that (x) the Board and (y) the holders of more than fifty percent (50%) of the then outstanding
shares of Common Stock and Preferred Stock, voting together on an as-converted basis (the “Selling
Holders”) approve a Sale of the Company or a bona fide equity financing of the Company for capital raising
purposes (a “bona fide equity financing”) in writing, specifying that this Section 3 shall
apply to such transaction, then, subject to satisfaction of each of the conditions set forth in Subsection 3.3 below,
the Company and the Stockholders holding at least one percent (1%) of the Company’s then outstanding shares of Common
Stock, on an as-converted basis (as adjusted for any stock combination, stock split, stock dividend, recapitalization or
other similar transaction), hereby agree:

 

(a)
if such transaction requires stockholder approval, with respect to all Shares that such Stockholder owns or over which such Stockholder
otherwise exercises voting power, to vote (in person or by proxy or by action by written consent, as applicable) all Shares in
favor of, and adopt, such Sale or bona fide equity financing of the Company (together with any related amendment or restatement
to the Restated Certificate required to implement such Sale or bona fide equity financing of the Company) and to vote in
opposition to any and all other proposals that could reasonably be expected to delay or impair the ability of the Company to consummate
such Sale or bona fide equity financing of the Company;

 

(b)
if such transaction is a Stock Sale, to sell the same proportion of shares of capital stock of the Company beneficially held by
such Stockholder as is being sold by the Selling Holders to the Person to whom the Selling Holders propose to sell their Shares,
and, except as permitted in Subsection 3.3 below, on the same terms and conditions as the other stockholders of the Company;

 

(c)
to execute and deliver all related documentation and take such other action in support of the Sale or bona fide equity
financing of the Company as shall reasonably be requested by the Company or the Selling Holders in order to carry out the terms
and provision of this Section 3, including, without limitation, executing and delivering instruments of conveyance and
transfer, and any purchase agreement, merger agreement, any associated indemnity agreement, or escrow agreement, any associated
voting, support, or joinder agreement, consent, waiver, governmental filing, share certificates duly endorsed for transfer (free
and clear of impermissible liens, claims and encumbrances), and any similar or related documents;

 

(d)
not to deposit, and to cause their Affiliates not to deposit, except as provided in this Agreement, any Shares of the Company
owned by such party or Affiliate in a voting trust or subject any Shares to any arrangement or agreement with respect to the voting
of such Shares, unless specifically requested to do so by the acquirer in connection with the Sale of the Company;

 

(e)
to refrain from (i) exercising any dissenters’ rights or rights of appraisal under applicable law at any time with respect
to such Sale of the Company, or (ii) asserting any claim or commencing any suit (A) challenging the Sale of the Company or this
Agreement, or (B) alleging a breach of any fiduciary duty of the Selling Holders or any affiliate or associate thereof (including,
without limitation, aiding and abetting breach of fiduciary duty) in connection with the evaluation, negotiation or entry into
the Sale of the Company, or the consummation of the transactions contemplated thereby;

 

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(f)
if the consideration to be paid in a Sale of the Company in exchange for the Shares pursuant to this Section 3 includes
any securities and due receipt thereof by any Stockholder would require under applicable law (i) the registration or qualification
of such securities or of any person as a broker or dealer or agent with respect to such securities; or (ii) the provision to any
Stockholder of any information other than such information as a prudent issuer would generally furnish in an offering made solely
to “accredited investors” as defined in Regulation D promulgated under the Securities Act of 1933, as amended (the
“Securities Act”), the Company may cause to be paid to any such Stockholder in lieu thereof, against surrender
of the Shares which would have otherwise been sold by such Stockholder, an amount in cash equal to the fair value (as determined
in good faith by the Board) of the securities which such Stockholder would otherwise receive as of the date of the issuance of
such securities in exchange for the Shares; and

 

(g)
in the event that the Selling Holders, in connection with such Sale of the Company, appoint a stockholder representative (the
“Stockholder Representative”) with respect to matters affecting the Stockholders under the applicable definitive
transaction agreements following consummation of such Sale of the Company, (i) to consent to (A) the appointment of such Stockholder
Representative, (B) the establishment of any applicable escrow, expense or similar fund in connection with any indemnification
or similar obligations, and (C) the payment of such Stockholder’s pro rata portion (from the applicable escrow or expense
fund or otherwise) of any and all reasonable fees and expenses to such Stockholder Representative in connection with such Stockholder
Representative’s services and duties in connection with such Sale of the Company and its related service as the representative
of the Stockholders, and (ii) not to assert any claim or commence any suit against the Stockholder Representative or any other
Stockholder with respect to any action or inaction taken or failed to be taken by the Stockholder Representative, within the scope
of the Stockholder Representative’s authority, in connection with its service as the Stockholder Representative, absent
fraud, bad faith, gross negligence or willful misconduct.

 

3.3
Conditions. Notwithstanding anything to the contrary set forth herein, a Stockholder will not be required to comply with
Subsection 3.2 above in connection with any proposed Sale of the Company (the “Proposed Sale”), unless:

 

(a)
any representations and warranties to be made by such Stockholder in connection with the Proposed Sale are limited to representations
and warranties related to authority, ownership and the ability to convey title to such Shares, including, but not limited to,
representations and warranties that (i) the Stockholder holds all right, title and interest in and to the Shares such Stockholder
purports to hold, free and clear of all liens and encumbrances, (ii) the obligations of the Stockholder in connection with the
transaction have been duly authorized, if applicable, (iii) the documents to be entered into by the Stockholder have been duly
executed by the Stockholder and delivered to the acquirer and are enforceable (subject to customary limitations) against the Stockholder
in accordance with their respective terms; and (iv) neither the execution and delivery of documents to be entered into by the
Stockholder in connection with the transaction, nor the performance of the Stockholder’s obligations thereunder, will cause
a breach or violation of the terms of any agreement to which the Stockholder is a party, or any law or judgment, order or decree
of any court or governmental agency that applies to the Stockholder;

 

(b)
such Stockholder is not required to agree (unless such Stockholder is a Company officer or employee) to any restrictive
covenant in connection with the Proposed Sale (including without limitation any covenant not to compete or covenant not to
solicit customers, employees or suppliers of any party to the Proposed Sale);

 

    5

     

    

 

(c)
such Stockholder and its affiliates are not required to amend, extend or terminate any contractual or other relationship with
the Company, the acquirer or their respective affiliates, except that the Stockholder may be required to agree to terminate the
investment-related documents between or among such Stockholder, the Company and/or other stockholders of the Company;

 

(d)
the Stockholder is not liable for the breach of any representation, warranty or covenant made by any other Person in connection
with the Proposed Sale, other than the Company (except to the extent that funds may be paid out of an escrow established to cover
breach of representations, warranties and covenants of the Company as well as breach by any stockholder of any of identical representations,
warranties and covenants provided by all stockholders);

 

(e)
liability shall be limited to such Stockholder's applicable share (determined based on the respective proceeds payable to each
Stockholder in connection with such Proposed Sale in accordance with the provisions of the Restated Certificate) of a negotiated
aggregate indemnification amount that applies equally to all Stockholders but that in no event exceeds the amount of consideration
otherwise payable to such Stockholder in connection with such Proposed Sale, except with respect to claims related to fraud by
such Stockholder, the liability for which need not be limited as to such Stockholder;

 

(f)
upon the consummation of the Proposed Sale (i) each holder of each class or series of the capital stock of the Company will
receive the same form of consideration for their shares of such class or series as is received by other holders in respect of
their shares of such same class or series of stock, and if any holders of any capital stock of the Company are given a choice
as to the form of consideration to be received as a result of the Proposed Sale, all holders of such capital stock will be
given the same option, (ii) each holder of a series of Preferred Stock will receive the same amount of consideration per
share of such series of Preferred Stock as is received by other holders in respect of their shares of such same series, (iii)
each holder of Common Stock will receive the same amount of consideration per share of Common Stock as is received by other
holders in respect of their shares of Common Stock, and (iv) unless waived pursuant to the terms of the Restated Certificate
and as may be required by law, the aggregate consideration receivable by all holders of the Preferred Stock and Common Stock
shall be allocated among the holders of Preferred Stock and Common Stock on the basis of the relative liquidation preferences
to which the holders of each respective series of Preferred Stock and the holders of Common Stock are entitled in a Deemed
Liquidation Event (assuming for this purpose that the Proposed Sale is a Deemed Liquidation Event) in accordance with the
Company’s Certificate of Incorporation in effect immediately prior to the Proposed Sale; provided, however,
that, notwithstanding the foregoing provisions of this Subsection 3.3(f), if the consideration to be paid in exchange
for the Shares, pursuant to this Subsection 3.3(f) includes any securities and due receipt thereof by any Stockholder
would require under applicable law (x) the registration or qualification of such securities or of any person as a broker or
dealer or agent with respect to such securities; or (y) the provision to any Stockholder of any information other than such
information as a prudent issuer would generally furnish in an offering made solely to “accredited investors” as
defined in Regulation D promulgated under the Securities Act, the Company may cause to be paid to any such Stockholder in
lieu thereof, against surrender of the Shares, which would have otherwise been sold by such Stockholder, an amount in cash
equal to the fair value (as determined in good faith by the Board) of the securities which such Stockholder would otherwise
receive as of the date of the issuance of such securities in exchange for the Shares;

 

    6

     

    

 

(g)
subject to clause (g) above, requiring the same form of consideration to be available to the holders of any single class or series
of capital stock, if any holders of any capital stock of the Company are given an option as to the form and amount of consideration
to be received as a result of the Proposed Sale, all holders of such capital stock will be given the same option; provided,
however, that nothing in this Subsection 3.3(g) shall entitle any holder to receive any form of consideration that
such holder would be ineligible to receive as a result of such holder’s failure to satisfy any condition, requirement or
limitation that is generally applicable to the Company’s stockholders.

 

3.4
Restrictions on Sales of Control of the Company. No Stockholder shall be a party to any Stock Sale unless (a) all holders
of Preferred Stock are allowed to participate in such transaction(s) and (b) the consideration received pursuant to such transaction
is allocated among the parties thereto in the manner specified in the Company’s Restated Certificate in effect immediately
prior to the Stock Sale, unless the holders of at least the requisite percentage required to waive such treatment of the transaction(s)
pursuant to the terms of the Restated Certificate, elect to allocate the consideration differently by written notice given to
the Company at least ten (10) days prior to the effective date of any such transaction or series of related transactions.

 

4.
Remedies.

 

4.1
Covenants of the Company. The Company agrees to use its best efforts, within the requirements of applicable law, to ensure
that the rights granted under this Agreement are effective and that the parties enjoy the benefits of this Agreement. Such actions
include, without limitation, the use of the Company’s best efforts to cause the nomination and election of the directors
as provided in this Agreement.

 

4.2 Irrevocable
Proxy and Power of Attorney. Each party to this Agreement hereby constitutes and appoints as the proxies of the party and
hereby grants a power of attorney to the Chief Executive Officer of the Company, and a designee of the Selling Holders, and
each of them, with full power of substitution, with respect to the matters set forth herein, including, without limitation,
votes to increase authorized shares pursuant to Section 2 hereof and votes regarding any Sale of the Company pursuant
to Section 3 hereof, and hereby authorizes each of them to represent and vote, if and only if the party (a) fails to
vote, or (b) attempts to vote (whether by proxy, in person or by written consent), in a manner which is inconsistent with the
terms of this Agreement, all of such party’s Shares in favor of the election of persons as members of the Board
determined pursuant to and in accordance with the terms and provisions of this Agreement or the increase of authorized shares
or approval of any Sale of the Company pursuant to and in accordance with the terms and provisions of Sections 2 and 3,
respectively, of this Agreement or to take any action reasonably necessary to effect Sections 2 and 3,
respectively, of this Agreement. The power of attorney granted hereunder shall authorize the Chief Executive Officer of the
Company to execute and deliver the documentation referred to in Subsection 3.2(c) on behalf of any party failing to do
so within five (5) business days of a request by the Company. Each of the proxy and power of attorney granted pursuant to
this Subsection 4.2 is given in consideration of the agreements and covenants of the Company and the parties in
connection with the transactions contemplated by this Agreement and, as such, each is coupled with an interest and shall be
irrevocable unless and until this Agreement terminates or expires pursuant to Subsection 5.1 hereof. Each party hereto
hereby revokes any and all previous proxies or powers of attorney with respect to the Shares and shall not hereafter, unless
and until this Agreement terminates or expires pursuant to Subsection 5.1 hereof, purport to grant any other proxy or
power of attorney with respect to any of the Shares, deposit any of the Shares into a voting trust or enter into any
agreement (other than this Agreement), arrangement or understanding with any person, directly or indirectly, to vote, grant
any proxy or give instructions with respect to the voting of any of the Shares, in each case, with respect to any of the
matters set forth herein.

 

    7

     

    

 

4.3
Specific Enforcement. Each party acknowledges and agrees that each party hereto will be irreparably damaged in the event
any of the provisions of this Agreement are not performed by the parties in accordance with their specific terms or are otherwise
breached. Accordingly, it is agreed that each of the Company and the Stockholders shall be entitled to an injunction to prevent
breaches of this Agreement, and to specific enforcement of this Agreement and its terms and provisions in any action instituted
in any court of the United States or any state having subject matter jurisdiction.

 

4.4
Remedies Cumulative. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative
and not alternative.

 

5.
“Bad Actor” Matters.

 

5.1
Definitions. For purposes of this Agreement:

 

(a)
“Company Covered Person” means, with respect to the Company as an “issuer” for purposes of Rule
506 promulgated under the Securities Act, any Person listed in the first paragraph of Rule 506(d)(1).

 

(b)
“Disqualified Designee” means any director designee to whom any Disqualification Event is applicable, except
for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable.

 

(c)
“Disqualification Event” means a “bad actor” disqualifying event described in Rule 506(d)(1)(i)-(viii)
promulgated under the Securities Act.

 

(d)
“Rule 506(d) Related Party” means, with respect to any Person, any other Person that is a beneficial owner
of such first Person’s securities for purposes of Rule 506(d) under the Securities Act.

 

5.2
Representations.

 

(a)
Each Person with the right to designate or participate in the designation of a director pursuant to this Agreement hereby
represents that (i) such Person has exercised reasonable care to determine whether any Disqualification Event is applicable
to such Person, any director designee designated by such Person pursuant to this Agreement or any of such Person’s Rule
506(d) Related Parties, except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3)
is applicable and (ii) no Disqualification Event is applicable to such Person, any Board member designated by such Person
pursuant to this Agreement or any of such Person’s Rule 506(d) Related Parties, except, if applicable, for a
Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable. Notwithstanding anything to the
contrary in this Agreement, each Investor makes no representation regarding any Person that may be deemed to be a beneficial
owner of the Company’s voting equity securities held by such Investor solely by virtue of that Person being or becoming
a party to (x) this Agreement, as may be subsequently amended, or (y) any other contract or written agreement to which the
Company and such Investor are parties regarding (1) the voting power, which includes the power to vote or to direct the
voting of, such security; and/or (2) the investment power, which includes the power to dispose, or to direct the disposition
of, such security.

 

    8

     

    

 

(b)
The Company hereby represents and warrants to the Investors that no Disqualification Event is applicable to the Company or, to
the Company’s knowledge, any Company Covered Person, except for a Disqualification Event as to which Rule 506(d)(2)(ii–iv)
or (d)(3) is applicable.

 

5.3
Covenants. Each Person with the right to designate or participate in the designation of a director pursuant to this Agreement
covenants and agrees (a) not to designate or participate in the designation of any director designee who, to such Person’s
knowledge, is a Disqualified Designee, (b) to exercise reasonable care to determine whether any director designee designated by
such person is a Disqualified Designee, (c) that in the event such Person becomes aware that any individual previously designated
by any such Person is or has become a Disqualified Designee, such Person shall as promptly as practicable take such actions as
are necessary to remove such Disqualified Designee from the Board and designate a replacement designee who is not a Disqualified
Designee, and (d) to notify the Company promptly in writing in the event a Disqualification Event becomes applicable to such Person
or any of its Rule 506(d) Related Parties, or, to such Person’s knowledge, to such Person’s initial designee named
in Section 1, except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is
applicable.

 

6.
Term. This Agreement shall be effective as of the date hereof and shall continue in effect until and shall terminate upon
the earliest to occur of (a) the consummation of the Company’s first underwritten public offering of its Common Stock (other
than a registration statement relating either to the sale of securities to employees of the Company pursuant to its stock option,
stock purchase or similar plan or an SEC Rule 145 transaction); (b) the consummation of a Sale of the Company and distribution
of proceeds to or escrow for the benefit of the Stockholders in accordance with the Restated Certificate, provided that
the provisions of Section 3 hereof will continue after the closing of any Sale of the Company to the extent necessary to
enforce the provisions of Section 3 with respect to such Sale of the Company; (c) termination of this Agreement in accordance
with Subsection 7.8 below.

 

7.
Miscellaneous.

 

7.1
Additional Parties.

 

(a)
Notwithstanding anything to the contrary contained herein, if the Company issues additional shares of Series A Preferred
Stock to a Person after the date hereof, such Person may become a party to this Agreement by executing and delivering a
counterpart signature page hereto agreeing to be bound by and subject to the terms of this Agreement as an Investor and
Stockholder hereunder and shall thereafter be deemed an Investor and Stockholder for all purposes under this
Agreement.

 

    9

     

    

 

(b)
Notwithstanding anything to the contrary contained herein, in the event the Company issues additional shares of Common Stock to
a Person after the date hereof, following which such Person shall hold more than one percent (1%) of the then outstanding shares
of Common Stock, then such Person may become a party to this Agreement by executing and delivering a counterpart signature page
hereto agreeing to be bound by and subject to the terms of this Agreement as a Stockholder hereunder and shall thereafter be deemed
a Stockholder for all purposes under this Agreement.

 

(c)
The Company shall use its commercially reasonable efforts to obtain any additional counterpart signature pages in the case of
clauses (a) and (b) above.

 

7.2
Transfers. Each transferee or assignee of any Shares subject to this Agreement shall continue to be subject to the terms
hereof, and, as a condition precedent to the Company’s recognition of such transfer, each transferee or assignee shall agree
in writing to be subject to each of the terms of this Agreement by executing and delivering an Adoption Agreement substantially
in the form attached hereto as Exhibit A. Upon the execution and delivery of an Adoption Agreement by any transferee, such
transferee shall be deemed to be a party hereto as if such transferee were the transferor and such transferee’s signature
appeared on the signature pages of this Agreement and shall be deemed to be an Investor and Stockholder, or Key Holder and Stockholder,
as applicable. The Company shall not permit the transfer of the Shares subject to this Agreement on its books or issue a new certificate
representing any such Shares unless and until such transferee shall have complied with the terms of this Subsection 7.2.
Each certificate instrument, or book entry representing the Shares subject to this Agreement if issued on or after the date of
this Agreement shall be notated by the Company with the legend set forth in Subsection 7.12.

 

7.3
Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the
respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any
party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities
under or by reason of this Agreement, except as expressly provided in this Agreement.

 

7.4
Governing Law. This Agreement shall be governed by the internal law of the State of Delaware, without regard to conflict
of law principles that would result in the application of any law other than the law of the State of Delaware.

 

7.5
Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic
mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or
other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid
and effective for all purposes. 

 

    10

     

    

 

7.6
Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered
in construing or interpreting this Agreement.

 

7.7
Notices.

 

(a)
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given upon the earlier of actual receipt or (i) personal delivery to the party to be notified, (ii) when sent, if sent by electronic
mail or facsimile during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s
next business day, (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage
prepaid, or (d) one (1) business day after the business day of deposit with a nationally recognized overnight courier, freight
prepaid, specifying next business day delivery, with written verification of receipt. All communications shall be sent to the
respective parties at their address as set forth on Schedule A or Schedule B hereto, or to such email address, facsimile
number or address as subsequently modified by written notice given in accordance with this Subsection 7.7. If notice is
given to the Company, a copy shall also be sent to Mitchell Silberberg & Knupp LLP, 437 Madison Avenue, 25th Floor,
New York, NY 10022, Attention: Blake Baron, Esq., email: bjb@msk.com; and if notice is given to the Stockholders, a copy shall
also be given to Wilson Sonsini Goodrich & Rosati, P.C., 650 Page Mill Road, Palo Alto, CA 94304, Attention: Elton Satusky,
Esq., email: esatusky@wsgr.com.

 

(b)
Consent to Electronic Notice. Each Investor and Key Holder consents to the delivery of any stockholder notice pursuant
to the Delaware General Corporation Law (the “DGCL”), as amended or superseded from time to time, by electronic
transmission pursuant to Section 232 of the DGCL (or any successor thereto) at the electronic mail address or the facsimile number
set forth below such Investor’s or Key Holder’s name on the Schedules hereto, as updated from time to time by notice
to the Company, or as on the books of the Company. Each Investor and Key Holder agrees to promptly notify the Company of any change
in its electronic mail address, and that failure to do so shall not affect the foregoing.

 

7.8
Consent Required to Amend, Modify, Terminate or Waive. This Agreement may be amended, modified or terminated (other than
pursuant to Section 6) and the observance of any term hereof may be waived (either generally or in a particular instance
and either retroactively or prospectively) only by a written instrument executed by (x) the Company;

(y)
the Key Holders holding a majority of the Shares then held by the Key Holders who are then providing services to the Company as
officers, employees or consultants, provided that such consent shall not be required if the Key Holders do not then own
Shares representing at least 10% of the outstanding capital stock of the Company; and (z) the holders of a majority of the shares
of Common Stock issued or issuable upon conversion of the shares of Preferred Stock held by the Investors (voting together as
a single class). Notwithstanding the foregoing:

 

(a)
this Agreement may not be amended, modified or terminated and the observance of any term of this Agreement may not be waived with
respect to any Investor or Key Holder without the written consent of such Investor or Key Holder unless such amendment, modification,
termination or waiver applies to all Investors or Key Holders, as the case may be, in the same fashion;

 

    11

     

    

 

(b)
the provisions of Subsections 1.2(a) and 1.2(b) and this Subsection 7.8(b) may not be amended,
modified, terminated or waived without the written consent of Crystal Amber;

 

(c)
the consent of the Key Holders shall not be required for any amendment, modification, termination or waiver if such amendment,
modification, termination, or waiver either (1) is not directly applicable to the rights of the Key Holders hereunder; or (2)
does not adversely affect the rights of the Key Holders in a manner that is different than the effect on the rights of the other
parties hereto;

 

(d)
Schedule A hereto may be amended by the Company from time to time in accordance with Subsection 1.3 of the Purchase
Agreement to add information regarding Additional Purchasers (as defined in the Purchase Agreement) without the consent of the
other parties hereto; and

 

(e)
any provision hereof may be waived by the waiving party on such party’s own behalf, without the consent of any other party.

 

The
Company shall give prompt written notice of any amendment, modification, termination, or waiver hereunder to any party that did
not consent in writing thereto. Any amendment, modification, termination, or waiver effected in accordance with this Subsection
7.8 shall be binding on each party and all of such party’s successors and permitted assigns, whether or not any such
party, successor or assignee entered into or approved such amendment, modification, termination or waiver. For purposes of this
Subsection 7.8, the requirement of a written instrument may be satisfied in the form of an action by written consent of
the Stockholders circulated by the Company and executed by the Stockholder parties specified, whether or not such action by written
consent makes explicit reference to the terms of this Agreement.

 

7.9
Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under this Agreement,
upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching
or non- defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or
of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a
waiver of any other breach or default previously or thereafter occurring. Any waiver, permit, consent or approval of any kind
or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of
any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set
forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative
and not alternative.

 

7.10
Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability
of any other provision.

 

7.11
Entire Agreement. This Agreement (including the Schedules and Exhibits hereto) constitutes the full and entire understanding
and agreement between the parties with respect to the subject matter hereof, and any other written or oral agreement relating
to the subject matter hereof existing between the parties is expressly canceled.

 

    12

     

    

 

7.12
Share Certificate Legend. Each certificate, instrument, or book entry representing any Shares issued after the date hereof
shall be notated by the Company with a legend reading substantially as follows:

 

“THE
SHARES REPRESENTED HEREBY ARE SUBJECT TO A VOTING AGREEMENT, AS MAY BE AMENDED FROM TIME TO TIME, (A COPY OF WHICH MAY BE OBTAINED
UPON WRITTEN REQUEST FROM THE COMPANY), AND BY ACCEPTING ANY INTEREST IN SUCH SHARES THE PERSON ACCEPTING SUCH INTEREST SHALL
BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF THAT VOTING AGREEMENT, INCLUDING CERTAIN RESTRICTIONS ON
TRANSFER AND OWNERSHIP SET FORTH THEREIN.”

 

The
Company, by its execution of this Agreement, agrees that it will cause the certificates instruments, or book entry evidencing
the Shares issued after the date hereof to be notated with the legend required by this Subsection 7.12 of this Agreement,
and it shall supply, free of charge, a copy of this Agreement to any holder of such Shares upon written request from such holder
to the Company at its principal office. The parties to this Agreement do hereby agree that the failure to cause the certificates,
instruments, or book entry evidencing the Shares to be notated with the legend required by this Subsection 7.12 herein
and/or the failure of the Company to supply, free of charge, a copy of this Agreement as provided hereunder shall not affect the
validity or enforcement of this Agreement.

 

7.13
Stock Splits, Stock Dividends, etc. In the event of any issuance of Shares or the voting securities of the Company hereafter
to any of the Stockholders (including, without limitation, in connection with any stock split, stock dividend, recapitalization,
reorganization, or the like), such Shares shall become subject to this Agreement and shall be notated with the legend set forth
in Subsection 7.12.

 

7.14
Manner of Voting. The voting of Shares pursuant to this Agreement may be effected in person, by proxy or in any other manner
permitted by applicable law. For the avoidance of doubt, voting of the Shares pursuant to the Agreement need not make explicit
reference to the terms of this Agreement.

 

7.15
Further Assurances. At any time or from time to time after the date hereof, the parties agree to cooperate with each other,
and at the request of any other party, to execute and deliver any further instruments or documents and to take all such further
action as the other party may reasonably request in order to carry out the intent of the parties hereunder.

 

7.16 Dispute
Resolution The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of
Delaware and to the jurisdiction of the United States District Court for the District of Delaware for the purpose of any
suit, action or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or
other proceeding arising out of or based upon this Agreement except in the state courts of Delaware or the United States
District Court for the District of Delaware, and (c) hereby waive, and agree not to assert, by way of motion, as a defense,
or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the
above-named courts, that its property is exempt or immune from attachment or execution, that the suit, action or proceeding
is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or
the subject matter hereof may not be enforced in or by such court.

 

    13

     

    

 

WAIVER
OF JURY TRIAL: EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF
THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER
IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER
OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS,
AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS
WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS
WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH LEGAL COUNSEL.

 

7.17
Costs of Enforcement. If any party to this Agreement seeks to enforce its rights under this Agreement by legal proceedings,
the non-prevailing party shall pay all costs and expenses incurred by the prevailing party, including, without limitation, all
reasonable attorneys’ fees.

 

7.18
Aggregation of Stock. All Shares held or acquired by a Stockholder and/or its Affiliates shall be aggregated together for
the purpose of determining the availability of any rights under this Agreement, and such Affiliated persons may apportion such
rights as among themselves in any manner they deem appropriate.

 

7.19
Spousal Consent. If any individual Stockholder is married on the date of this Agreement, such Stockholder’s spouse
shall execute and deliver to the Company a consent of spouse in the form of Exhibit B hereto (“Consent of Spouse”),
effective on the date hereof. Notwithstanding the execution and delivery thereof, such consent shall not be deemed to confer or
convey to the spouse any rights in such Stockholder’s Shares that do not otherwise exist by operation of law or the agreement
of the parties. If any individual Stockholder should marry or remarry subsequent to the date of this Agreement, such Stockholder
shall within thirty (30) days thereafter obtain his/her new spouse’s acknowledgement of and consent to the existence and
binding effect of all restrictions contained in this Agreement by causing such spouse to execute and deliver a Consent of Spouse
acknowledging the restrictions and obligations contained in this Agreement and agreeing and consenting to the same.

 

 

[Signature
Page Follows]

 

    14

     

    

 

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

 

	 	COMPANY:
	 	 	 
	 	GI DYNAMICS, INC.
	 	 	 
	 	By:	/s/
    Scott Schorer        
	 	Name:  	Scott Schorer
	 	Title:	Chief Executive
    Officer
	 	 	 
	 	KEY HOLDERS:
	 	 	 
	 	Signature:  	/s/ Richard Cashin

	 	 	 
	 	Name:	 Richard Cashin
 
	 	 	 
	 	INVESTORS:
	 	 	 
	 	CRYSTAL AMBER FUND LIMITED
	 	 	 
	 	By:	/s/ Mark Huntley

	 	Name:  	Mark Huntley

	 	Title: 	Director

 

SIGNATURE
PAGE TO VOTING AGREEMENT

 

    

     

    

 

SCHEDULE
A INVESTORS

 

	Name
    and Address	Number
    of Shares Held
	 	 
	Crystal
                                         Amber Fund Limited

        PO
        Box 286, Floor 2

        Trafalgar
        Court

        St.Peter
        Port

        GY1
        4LY

        Guernsey

        
	 

 

    

     

    

 

SCHEDULE
B

KEY
HOLDERS

	Name
    and Address	
	 Richard Cashin	 
	 	 
	 	 

 

    

     

    

 

EXHIBIT
A

 

ADOPTION
AGREEMENT

 

This
Adoption Agreement (“Adoption Agreement”) is executed on                        , 20     , by the undersigned (the “Holder”)
pursuant to the terms of that certain Voting Agreement dated as of September 4, 2020 (the “Agreement”), by
and among the Company and certain of its Stockholders, as such Agreement may be amended or amended and restated hereafter. Capitalized
terms used but not defined in this Adoption Agreement shall have the respective meanings ascribed to such terms in the Agreement.
By the execution of this Adoption Agreement, the Holder agrees as follows.

 

1.1
Acknowledgement. Holder acknowledges that Holder is acquiring certain shares of the capital stock of the Company (the “Stock”)
[or options, warrants, or other rights to purchase such Stock (the “Options”)], for one of the following reasons
(Check the correct box):

 

		☐	As
a transferee of Shares from a party in such party’s capacity as an “Investor” bound by the Agreement, and after
such transfer, Holder shall be considered an “Investor” and a “Stockholder” for all purposes of the Agreement.

 

		☐	As
a transferee of Shares from a party in such party’s capacity as a “Key Holder” bound by the Agreement, and after
such transfer, Holder shall be considered a “Key Holder” and a “Stockholder” for all purposes of the Agreement.

 

		☐	As
a new Investor in accordance with Subsection 7.1(a) of the Agreement, in which case Holder will be an “Investor”
and a “Stockholder” for all purposes of the Agreement.

 

		☐	In
accordance with Subsection 7.1(b) of the Agreement, as a new party who is not a new Investor, in which case Holder will
be a “Stockholder” for all purposes of the Agreement.

 

1.2
Agreement. Holder hereby (a) agrees that the Stock [Options], and any other shares of capital stock or securities required
by the Agreement to be bound thereby, shall be bound by and subject to the terms of the Agreement and (b) adopts the Agreement
with the same force and effect as if Holder were originally a party thereto.

 

1.3
Notice. Any notice required or permitted by the Agreement shall be given to Holder at the address or facsimile number listed
below Holder’s signature hereto.

 

	HOLDER:                                	 	ACCEPTED AND AGREED:
	 	 	 	 	 
	By: 	           	 	GI DYNAMICS, INC.
	 	 	 	 	 
	Name and Title of Signatory	 	 	 
	 	 	 	 	 
	Address:
                                   	 	By:	          
	 	 	 	 	 
	 	 	Title:	 
	 	 	 	 	 
	Facsimile Number:                                	 	 	 

 

    

     

    

 

EXHIBIT
B

 

CONSENT OF SPOUSE

 

I,
[                                ],
spouse of [                                ],
acknowledge that I have read the Voting Agreement, dated as of [                
,] 2020, to which this Consent is attached as Exhibit B (the “Agreement”), and that I know the contents
of the Agreement. I am aware that the Agreement contains provisions regarding the voting and transfer of shares of capital stock
of the Company that my spouse may own, including any interest I might have therein.

 

I
hereby agree that my interest, if any, in any shares of capital stock of the Company subject to the Agreement shall be irrevocably
bound by the Agreement and further understand and agree that any community property interest I may have in such shares of capital
stock of the Company shall be similarly bound by the Agreement.

 

I
am aware that the legal, financial and related matters contained in the Agreement are complex and that I am free to seek independent
professional guidance or counsel with respect to this Consent. I have either sought such guidance or counsel or determined after
reviewing the Agreement carefully that I will waive such right. 

 

	Dated:	 	 	 
	 	 	 	[Name
    of Key Holder’s Spouse]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}]]