Document:

Warrant to purchase shares of Common Stock issued to Medtronic

 Exhibit 10.20 
 THE TRANSFER OF THIS WARRANT IS SUBJECT TO RESTRICTIONS CONTAINED HEREIN. THIS WARRANT HAS BEEN ISSUED IN RELIANCE UPON THE REPRESENTATION OF THE HOLDER THAT IT HAS BEEN ACQUIRED FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TOWARDS THE
RESALE OR OTHER DISTRIBUTION THEREOF. NEITHER THIS WARRANT NOR THE SHARES ISSUABLE UPON THE EXERCISE OF THIS WARRANT, HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES LAWS. 
 VIRTUEL MEDICAL DEVICES, INC. 
 Warrant to
Purchase Common Stock 
 VALID NO LATER THAN 5:00 P.M., 
 CENTRAL TIME 
 August 9, 2009 
 THIS CERTIFIES that, for value received Medtronic, Inc. or its registered assigns (the “Holder”), is entitled, subject to the terms and
conditions of this warrant (the “Warrant”) set forth below, to subscribe for and purchase the Warrant Shares (as defined below) from Virtuel Medical Devices, Inc., a Delaware corporation (the “Corporation”), at the Warrant Price
(as defined below), at any time and from time to time after the Initial Issuance (as defined below) and before the Expiration Date (as defined below). 
 Section 1. Definitions. 
 (a) “Expiration Date” shall mean the earlier of
(i) August 9, 2009, (ii) five years following the issuance of 500,000 shares of common stock, $.01 par value per share of the Corporation (the “Common Stock”) pursuant to the exercise of options granted under the Virtuel
Medical Devices, Inc. 1999 Stock Incentive Plan (the “1999 Plan”), provided, however, that such five year period shall not commence until the Corporation provides Holder notice of such issuance, and (iii) termination of the
rights set forth in Section 1 of the Investors’ Rights Agreement, dated August 9, 1999 between the Corporation, Medtronic, Inc. and certain other investors identified therein (the “Investors’ Rights Agreement”) pursuant
to Section 1.4 thereof; provided, however, that the Holder’s rights hereunder shall not expire until the Corporation has provided the Holder sixty (60) days’ prior written notice of the Expiration Date, once the Expiration
Date has been fixed. 
 (b) The “Warrant Price” per share covered by this Warrant shall be $.01. 
 (c) “Warrant Shares” shall mean that number of shares of Common Stock equal to the “lesser of 124,222 or 19.9% of the number of shares
issued upon exercise of options granted pursuant to the 1999 Plan or otherwise issued in any issuance that is subject to clause (i) of the first sentence of Section 1.3 of the Investors’ Rights Agreement. Within ten (10) days
after any such issuance, the 

 
Corporation shall provide the Holder with written notice of such issuance and a computation of the number of Warrant Shares issuable under this Warrant as a
result thereof. However, whether the Expiration Date occurs on the date set forth in paragraph (a) or due to the occurrence of the events referenced in paragraph (a) above, and whether or not any issuances referred to the first sentence
this paragraph (c) have occurred prior to such date, for the sixty (60) day period prior to the Expiration Date, “Warrant Shares” shall mean 124,222 shares of Common Stock less any shares previously issued under this Warrant upon
exercise or conversion hereof. 
 Section 2. Exercise of Warrant. 
 (a) Cash Exercise. The rights represented by this Warrant may be exercised by the Holder in whole or in part (but not as to fractional shares) at
any time and from time to time during the exercise period provided above, but not as a fractional share, by the completion of the purchase form attached hereto and by the surrender of this Warrant (properly endorsed) at the office of the Corporation
as it may designate by notice in writing to the Holder hereof at the address of the Holder appearing on the books of the Corporation, and by payment to the Corporation of the Warrant Price multiplied by the number of shares to be purchased (the
“Aggregate Warrant Price”) in cash or by certified or official bank check, for each share being purchased. In the event of any exercise of the rights represented by this Warrant, a certificate or certificates for the Warrant Shares so
purchased, registered in the name of the Holder, or its nominee or other party designated in the purchase form by the Holder hereof, shall be delivered to the Holder as soon as is reasonable practicable after the date in which the rights represented
by this Warrant shall have been so exercised; and, unless this Warrant has expired or has been exercised in full, a new Warrant representing the number of shares (except a remaining fractional share), if any, with respect to which this Warrant shall
not then have been exercised shall also be issued to the Holder within such time. The person in whose name any certificate for shares is issued upon exercise of this Warrant shall for all purposes be deemed to have become the Holder of record of
such shares on the date on which this Warrant was surrendered and payment of the Aggregate Warrant Price, except that, if the date of such surrender and payment is a date on which the stock transfer books of the Corporation are closed, such person
shall be deemed to have become the Holder of such shares at the close of business on the next succeeding date on which the stock transfer books are open. No fractional shares shall be issued upon exercise of this Warrant and no payment or adjustment
shall be made upon any exercise on account of any cash dividends on the shares issued upon such exercise. If any fractional interest in a share would, except for the provision of this Section 2(a), be delivered upon such exercise, the
Corporation, in lieu of delivery of a fractional share thereof, shall pay to the Holder an amount in cash equal to the current market price of such fractional share as determined in good faith by the Board of Directors of the Corporation (the
“Board”). 
 (b) Conversion Right. 
 (i) The Holder of this Warrant shall have the right to require the Corporation to convert this Warrant (the “Conversion Right”) at any time after it is exercisable, but prior to its expiration, into
shares of the Common Stock as provided for in this Section 2(b). Upon exercise of the Conversion Right, the Corporation shall deliver to the Holder (without payment to the Corporation of the Aggregate Warrant Price) that number of shares of the
Common Stock equal to the quotient obtained by dividing (x) the value of the Warrant at the time the Conversion Right is exercised (determined by subtracting the Warrant Price for a Warrant Share in 

  

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effect immediately prior to the exercise of the Conversion Right from the Fair Market Value (as defined below) of a Warrant Share immediately prior to the
date of the exercise of the Conversion Right and multiplying that number by the number of Warrant Shares for which the Conversion Right is being exercised) by (y) the Fair Market Value of a Warrant Share immediately prior to the
exercise of the Conversion Right. 
 (ii) The Conversion Right may be exercised by the Holder, at any time or from time to time, prior
to the Expiration Date, on any business day by delivering a written notice (the “Conversion Notice”) to the Corporation at its offices stating that the Holder desires to exercise the Conversion Right and specifying (i) the total
number of shares with respect to which the Conversion Right is being exercised and (ii) a place and date not less than five or more than 20 business days from the date of the Conversion Notice for the closing of such purchase. 
 (iii) At any closing under Section 2(b)(ii) hereof, (A) the Holder will surrender the Warrant and (B) the Corporation will deliver to the
Holder (1) a certificate or certificates for the number of shares of the Common Stock issuable upon such conversion, together with cash, in lieu of any fraction of a share and (2) a new warrant representing the number of shares, if any,
with respect to which the Warrant shall not have been exercised. 
 (iv) For purposes of this Section 2(b), “Fair Market
Value” of a Warrant Share as of a particular date (the “Determination Date”) shall mean: 
 (A) If the Common Stock is traded
on an exchange or is quoted on Nasdaq, then the average closing or last sale prices, respectively, reported for the ten (10) business days immediately preceding the Determination Date, and 
 (B) If the Common Stock is not traded on an exchange or on Nasdaq but is traded on the over-the-counter market, then the average closing bid and asked
prices reported for the ten (10) business days immediately preceding the Determination Date, and 
 (C) If the Common Stock is not
traded on the over-the-counter market, then the fair market value as reasonably determined in good faith by the Board of Directors. 
 Section 3.
Stock Splits, Consolidation; Reservation of Shares; Issuance Tax and Closing of Books. 
 (a) In the event that after the issuance of
the shares into which this Warrant may be exercised, the outstanding shares shall be split, combined or consolidated, by dividend, reclassification or otherwise, into a greater or lesser number of shares, the number of shares purchasable
under this Warrant shall, concurrently with the effectiveness of such combination or consolidation, be proportionately adjusted; provided, however, that the Corporation shall not split, by dividend, reclassification or otherwise, its
Common Stock into a greater number of shares without the prior written consent of Holder, which consent shall not be unreasonably withheld. If any capital reorganization or reclassification of the capital stock of the Corporation, or consolidation
or merger of the Corporation with another corporation, or the sale of all or substantially all of tits assets to another corporation shall be effected in such a way that holders of the Common Stock shall be entitled to receive stock, securities
or assets with respect to or in exchange for such Common Stock, then, as a condition of such reorganization, reclassification, consolidation, merger or sale, the holder of this Warrant 

  

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shall have the right to purchase and receive upon the basis and upon the terms and conditions specified in this Warrant and in lieu of the shares
of the Common Stock of the Corporation immediately theretofore purchasable and receivable upon the exercise of the rights represented hereby, such stock, securities or assets as would have been issued or delivered to the holder of
this Warrant if it had exercised this Warrant and had received such shares of Common Stock prior to such reorganization, reclassification, consolidation, merger or sale. The Corporation shall not effect any such consolidation, merger or sale,
unless prior to the consummation thereof the successor corporation (if other than the Corporation) resulting from such consolidation or merger or the corporation purchasing such assets shall assume by written instrument executed and mailed to
the Holder at the last address of the Holder appearing on the books of the Corporation, the obligation to deliver to the Holder such shares of stock, securities or assets as, in accordance with the foregoing provisions, the Holder may be
entitled to purchase. Notwithstanding the foregoing, no such actions shall be required if this Warrant shall terminate, and the Expiration Date shall occur on, the effective date of such consolidation, merger or sale and the Holder is given the
opportunity to exercise this Warrant prior thereto in accordance with the terms hereof. 
 (b) The Corporation will at all times during the
term of the Warrant reserve and keep available out of its authorized capital stock solely for the purpose of issuance upon the exercise of this Warrant as herein provided, such number of shares as shall then be issuable upon the exercise of this
Warrant. The Corporation shall from time to time in accordance with applicable law increase the authorized amount of its capital stock if at any time the number of shares remaining unissued and available for issuance shall not be sufficient to
permit exercise of this Warrant. The Corporation covenants that all shares which shall be so issued shall be duly and validly issued and fully paid and nonassessable and free from all taxes, liens and charges with respect to the issue thereof, and,
without limitation, to take such action as may be necessary to assure that all such shares may be so issued without violation of any applicable law or regulation, or of any requirement of any national securities exchange upon which shares of
capital stock of the Corporation may be listed. 
 (c) The issuance of certificates for shares upon exercise of this Warrant shall be made
without charge to the Holders of this Warrant for any issuance tax in respect thereof; provided that the Corporation shall not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of
any certificate in a name other than that of Holder of this Warrant. 
 (d) The Corporation will at no time close its transfer books against
the transfer of the shares issued or issuable upon the exercise of this Warrant in any manner which interferes with the timely exercise of this Warrant. 
 Section 4. Notice of Record Dates. In the event of 
 (a) any taking by the Corporation of a
record of the Holders of any class of securities for the purpose of determining the Holders thereof who are entitled to receive any dividend or other distribution (other than cash dividends out of earned surplus), or any right to subscribe for,
purchase or otherwise acquire any shares of stock of any class or any other securities or property, or to receive any other right, or 
 (b)
any capital reorganization of the Corporation, any reclassification or recapitalization of the capital stock of the Corporation or any transfer of all or substantially all the assets of the Corporation to or consolidation or merger of the
Corporation with or into any other corporation, or 
  

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 (c) any voluntary or involuntary dissolution, liquidation or winding-up of the Corporation, then and in
each such event the Corporation will give notice to the Holder of this Warrant specifying (i) the date on which any such record is to be taken for the purpose of such dividend, distribution or right and stating the amount and character of
such dividend, distribution or right, and (ii) the date on which any such reorganization, reclassification, recapitalization, transfer, consolidation, merger, dissolution, liquidation or winding-up is to take place, and the time, if any is
to be fixed, as of which the Holders of record will be entitled to exchange their shares for securities or other property deliverable upon such reorganization, reclassification, recapitalization, transfer, consolidation, merger, dissolution,
liquidation or winding-up. Such notice shall be given at least 20 days and not more than 90 days prior to the date therein specified, and such notice shall state that the action in question or the record date is subject to the effectiveness of a
registration statement under the Securities Act of 1933, as amended (the “Securities Act”) or to a favorable vote of stockholders, if either is required. 
 Section 5. No Stock Rights or Liabilities. This Warrant shall not entitle the Holder hereof to any voting rights or other rights as a stockholder of the Corporation. No provision hereof, in the absence of
affirmative action by the provision hereof, in the absence of affirmative action by the Holder hereof to purchase shares, and no mere enumeration hereon of the rights or privileges of the Holder hereof, shall give rise to any liability of such
Holder for the Warrant Price or as a stockholder of the Corporation, whether such liability is asserted by the Corporation or by creditors of the Corporation. 
 Section 6. Notice of Proposed Transfers. The Holder of this Warrant, by acceptance hereof, agrees to comply in all respects with the provisions of this Section 6. Prior to any proposed
transfer of this Warrant or the Warrant Shares, unless there is in effect a registration statement under the Securities Act covering the proposed transfer, the Holder of such securities shall give written notice to the Corporation of such
Holder’s intention to effect such transfer. Each such notice shall describe the manner and circumstances of the proposed transfer in sufficient detail, and shall be accompanied by either (i) a written opinion of legal counsel who shall be
reasonably satisfactory to the Corporation addressed to the Corporation and reasonably satisfactory in form and substance to the Corporation’s counsel, to the effect that the proposed transfer of the Warrant and/or Warrant Shares may be
effected without registration under the Securities Act, or (ii) a “no action” letter from the U.S. Securities and Exchange Commission (the “Commission”) to the effect that the transfer of such securities without registration
will not result in a recommendation by the staff of the Commission that enforcement action be taken with respect thereto, whereupon the Holder of such securities shall be entitled to transfer such securities in accordance with the terms of the
notice delivered by the Holder to the Corporation. Each new certificate evidencing the Warrant and/or Warrant Shares so transferred shall bear the appropriate restrictive legends, except that such certificate shall not bear such restrictive legend,
if, in the opinion of counsel for the Corporation, such legend is not required in order to establish or assist in compliance with any provisions of the Securities Act or any applicable state securities laws. 
 Section 7. Lost, Stolen. Mutilated or Destroyed Warrant. If this Warrant is lost, stolen, mutilated or destroyed, the Corporation may, on
such terms as to indemnity or otherwise as it may in its discretion reasonably impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination and tenor as the Warrant so lost,
stolen, mutilated or destroyed. Any such new Warrant shall constitute an original contractual obligation of the Corporation, whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable by anyone.

  

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 Section 8. Presentment. Prior to due presentment of this Warrant together with a completed
assignment form attached hereto for registration of transfer, the Corporation may deem and treat the Holder as the absolute owner of the Warrant, notwithstanding any notation of ownership or other writing thereon, for the purpose of any exercise
thereof and for all other purposes, and the Corporation shall not be affected by any notice to the contrary. 
 Section 9.
Preemptive, Co-Sale and Registration Rights. Holder shall be entitled to the preemptive, co-sale and registration rights set forth in the Investors’ Rights Agreement. The Common Stock issuable upon exercise of the Warrant shall, for all
purposes of such Investors’ Rights Agreement, be considered “Co-Sale Eligible Stock” and “Registrable Securities.” Except to the extent that such rights may be assigned under the Investors’ Rights Agreement
(including, without limitation, to any affiliate of Medtronic, Inc.), the rights represented by this Section 9 shall not be assignable by Holder without the consent of the Corporation. 
 Section 10. Notice. Notice or demand pursuant to this Warrant shall be sufficiently given or made, if send by first-class mail, postage
prepaid, or by reputable overnight carrier addressed, if to the Holder of this Warrant, to the Holder at its last known address as it shall appear in the records of the Corporation, and if to the Corporation, 800 LaSalle Avenue, Suite 2250,
Minneapolis, Minnesota 55402. The Corporation may alter the address to which communications are to be sent by giving notice of such change of address in conformity with the provisions of this Section 10 for the giving of notice. 
 Section 11. Governing Law. The validity, interpretation and performance of this Warrant shall be governed by the laws of the State of
Minnesota without regard to principles of conflicts of laws. 
 Section 12. Successors. Assigns. Subject to the restrictions on
transfer by Holder set forth in Section 6 hereof, all the terms and provisions of the Warrant shall be binding upon and inure to the benefit of an be enforceable by the respective successors and assigns of the parties hereto. 

Section 13. Amendment. This Warrant may be modified, amended or terminated by a writing signed by the Corporation and the Holder.

 Section 14. Severability. Should any part but not the whole of this Warrant for any reason be declared invalid, such decision
shall not affect the validity of any remaining portion, which remaining portion shall remain in force and effect as if this Warrant had been executed with the invalid portion thereof eliminated, and it is hereby declared the intention of the parties
hereto that they would have executed the remaining portion o this Warrant without including therein any such part which may, for any reason, be hereafter declared invalid. 
  

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 IN WITNESS WHEREOF, the Corporation has caused this Warrant to be duly executed and delivered on and as
of the day and year first above written by one of its officers thereunto duly authorized. 
 Dated: August 9, 1999 
  

			
	VIRTUEL MEDICAL DEVICES, INC.
		
	By	 	 /s/ Jay W. Schmelter

		 	Jay Schmelter, President

  

 -7-Warrants to purchase shares of Series E Convertible Preferred Stock

 Exhibit 10.21 
 THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR ANY STATE SECURITIES LAWS. NO SALE OR DISPOSITION MAY BE EFFECTED WITHOUT (i) EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) AN OPINION
OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATIONS ARE NOT REQUIRED, (iii) RECEIPT OF NO-ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE COMPLYING WITH THE
PROVISIONS OF SECTION 7 OF THIS WARRANT. 
 TISSUELINK MEDICAL, INC 
 WARRANT TO PURCHASE SHARES 
 OF SERIES PREFERRED STOCK 
 THIS CERTIFIES THAT, for value received, HORIZON TECHNOLOGY FUNDING COMPANY II LLC and its assignees are entitled to subscribe for and purchase that
number of shares of Series Preferred Stock (as adjusted pursuant to Section 4 hereof, the “Shares”) of TISSUELINK MEDICAL, INC., a Delaware corporation (the “Company”), as is determined pursuant to the next paragraph hereof
at the price per share as is determined pursuant to the next paragraph hereof (such price and such other price as shall result, from time to time, from the adjustments specified in Section 4 hereof is herein referred to as the “Warrant
Price”), subject to the provisions and upon the terms and conditions hereinafter set forth. As used herein, (a) the term “Series Preferred” shall mean, (i) if the Warrant Price is less than $1.263, shares of the
Company’s convertible preferred stock sold in the Company’s next Qualified Financing (as defined below) or (ii) if the Warrant Price is equal to $1.263, the Company’s presently authorized Series D Convertible Preferred Stock, and
any stock into or for which such Series Preferred may hereafter be converted or exchanged, and after the automatic conversion of the Series Preferred into Common Stock shall mean the Company’s Common Stock, (b) the term “Date of
Grant” shall mean September 1, 2006, and (c) the term “Other Warrants” shall mean any other warrants issued by the Company in connection with the transaction contemplated by a certain Loan Agreement by and between the
Company and Horizon Technology Funding Company LLC (“Lender”) dated as of March 17, 2005, as amended by a certain Amendment of Venture Loan and Security Agreement by and between Company and Lender dated as of the Date of Grant, with
respect to which this Warrant was issued, and any warrant issued upon transfer or partial exercise of or in lieu of this Warrant. The term “Warrant” as used herein shall be deemed to include Other Warrants unless the context clearly
requires otherwise. 
 The “Warrant Price” shall be the lower of (i) $1.263 and (ii) the lowest effective price per share
(on a common stock equivalent basis and taking into account any securities issued together with the preferred stock) at which shares of the Company’s convertible preferred stock are sold in its next Qualified Financing; provided, however,
if the Qualified Financing has not closed prior to the exercise of this Warrant, then the Warrant Price shall be $1.263 and the Shares for which this Warrant may be exercised or exchanged shall be the Series D Convertible Preferred Stock. A
“Qualified Financing” shall mean the sale of the convertible preferred stock of the Company to purchasers which include venture capital investors with an aggregate sales price of not less than $10,000,000, including any and all convertible
bridge notes that are converted into shares of convertible preferred stock in connection with the Qualified Financing. The number of shares for which this Warrant is exercisable shall be the nearest whole number determined by dividing $150,000 by
the Warrant Price determined pursuant to this paragraph. 

 1. Term. The purchase right represented by this Warrant is exercisable, in whole or in part, at any time and from
time to time from the Date of Grant through ten (10) years after the Date of Grant. 
 2. Method of Exercise; Payment; Issuance of New Warrant.
Subject to Section 1 hereof, the purchase right represented by this Warrant may be exercised by the holder hereof, in whole or in part and from time to time, at the election of the holder hereof, by (a) the surrender of this Warrant (with
the notice of exercise substantially in the form attached hereto as Exhibit A-1 duly completed and executed) at the principal office of the Company and by the payment to the Company, by certified or bank check, or by wire transfer to an account
designated by the Company (a “Wire Transfer”) of an amount equal to the then applicable Warrant Price multiplied by the number of Shares then being purchased; (b) if in connection with a registered public offering of the
Company’s securities, the surrender of this Warrant (with the notice of exercise form attached hereto as Exhibit A-2 duly completed and executed) at the principal office of the Company together with notice of arrangements reasonably
satisfactory to the Company for payment to the Company either by certified or bank check or by Wire Transfer from the proceeds of the sale of shares to be sold by the holder in such public offering of an amount equal to the then applicable Warrant
Price per share multiplied by the number of Shares then being purchased (provided, however, that this clause (b) shall not be deemed to entitle the holder hereof to sell any Shares in any public offering of the Company’s securities) ; or
(c) exercise of the “net issuance” right provided for in Section 10.2 hereof. The person or persons in whose name(s) any certificate(s) representing shares of Series Preferred shall be issuable upon exercise of this Warrant shall
be deemed to have become the holder(s) of record of, and shall be treated for all purposes as the record holder(s) of, the shares represented thereby (and such shares shall be deemed to have been issued) immediately prior to the close of business on
the date or dates upon which this Warrant is exercised. In the event of any exercise of the rights represented by this Warrant, certificates for the shares of stock so purchased shall be delivered to the holder hereof as soon as possible and in any
event within thirty (30) days after such exercise and, unless this Warrant has been fully exercised or expired, a new Warrant representing the portion of the Shares, if any, with respect to which this Warrant shall not then have been exercised
shall also be issued to the holder hereof as soon as possible and in any event within such thirty-day period; provided, however, at such time as the Company is subject to the reporting requirements of the Securities Exchange Act of 1934, as amended,
if requested by the holder of this Warrant, the Company shall cause its transfer agent to deliver the certificate representing Shares issued upon exercise of this Warrant to a broker or other person (as directed by the holder exercising this
Warrant) within the time period required to settle any trade made by the holder after exercise of this Warrant. 
 3. Stock Fully Paid; Reservation of
Shares. All Shares that may be issued upon the exercise of the rights represented by this Warrant will, upon issuance pursuant to the terms and conditions herein, be fully paid and nonassessable, and free from all preemptive rights and taxes,
liens and charges with respect to the issue thereof. During the period within which the rights represented by this Warrant may be exercised, the Company will at all times have authorized, and reserved for the purpose of the issue upon exercise of
the purchase rights evidenced by this Warrant, a sufficient number of shares of its Series Preferred to provide for the exercise of the rights represented by this Warrant and a sufficient number of shares of its Common Stock to provide for the
conversion of the Series Preferred into Common Stock. 
 4. Adjustment of Warrant Price and Number of Shares. The number and kind of securities
purchasable upon the exercise of this Warrant and the Warrant Price shall be subject to adjustment from time to time upon the occurrence of certain events, as follows: 

 (a) Reclassification or Merger. In case of any reclassification or change of securities of the
class issuable upon exercise of this Warrant (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination), or in case of any merger of the Company with or
into another corporation (other than a merger with another corporation in which the Company is the acquiring and the surviving corporation and which does not result in any reclassification or change of outstanding securities issuable upon exercise
of this Warrant), or in case of any sale of all or substantially all of the assets of the Company, the Company, or such successor or purchasing corporation, as the case may be, shall duly execute and deliver to the holder of this Warrant a new
Warrant (in form and substance satisfactory to the holder of this Warrant), so that the holder of this Warrant shall have the right to receive upon exercise of this Warrant, at a total purchase price not to exceed that payable upon the exercise of
the unexercised portion of this Warrant, and in lieu of the shares of Series Preferred theretofore issuable upon exercise of this Warrant, (i) the kind and amount of shares of stock, other securities, money and property receivable upon such
reclassification, change, merger or sale by a holder of the number of shares of Series Preferred then purchasable under this Warrant, or (ii) in the case of such a merger or sale in which the consideration paid consists all or in part of assets
other than securities of the successor or purchasing corporation, at the option of the holder of this Warrant, the securities of the successor or purchasing corporation having a value at the time of the transaction equivalent to the value of the
Series Preferred purchasable upon exercise of this Warrant at the time of the transaction. Any new Warrant shall provide for adjustments that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Section 4.
The provisions of this Section 4(a) shall similarly apply to successive reclassifications, changes, mergers and sales. 
 (b)
Subdivision or Combination of Shares. If the Company at any time while this Warrant remains outstanding and unexpired shall subdivide or combine its outstanding shares of Series Preferred, the Warrant Price shall be proportionately decreased
and the number of Shares issuable hereunder shall be proportionately increased in the case of a subdivision and the Warrant Price shall be proportionately increased and the number of Shares issuable hereunder shall be proportionately decreased in
the case of a combination. 
 (c) Stock Dividends and Other Distributions. If the Company at any time while this Warrant is
outstanding and unexpired shall (i) pay a dividend with respect to Series Preferred payable in Series Preferred, then the Warrant Price shall be adjusted, from and after the date of determination of shareholders entitled to receive such
dividend or distribution, to that price determined by multiplying the Warrant Price in effect immediately prior to such date of determination by a fraction (A) the numerator of which shall be the total number of shares of Series Preferred
outstanding immediately prior to such dividend or distribution, and (B) the denominator of which shall be the total number of shares of Series Preferred outstanding immediately after such dividend or distribution; or (ii) make any other
distribution with respect to Series Preferred (except any distribution specifically provided for in Sections 4(a) and 4(b)), then, in each such case, provision shall be made by the Company such that the holder of this Warrant shall receive upon
exercise of this Warrant a proportionate share of any such dividend or distribution as though it were the holder of the Series Preferred (or Common Stock issuable upon conversion thereof) as of the record date fixed for the determination of the
shareholders of the Company entitled to receive such dividend or distribution. 

 (d) Adjustment of Number of Shares. Upon each adjustment in the Warrant Price, the number of
Shares of Series Preferred purchasable hereunder shall be adjusted, to the nearest whole share, to the product obtained by multiplying the number of Shares purchasable immediately prior to such adjustment in the Warrant Price by a fraction, the
numerator of which shall be the Warrant Price immediately prior to such adjustment and the denominator of which shall be the Warrant Price immediately thereafter. 
 (e) Antidilution Rights. The other antidilution rights applicable to the Shares of Series Preferred purchasable hereunder are set forth in the Company’s Certificate of Incorporation, as amended through the
Date of Grant (the “Charter”). Any restatement, amendment, modification or waiver of such antidilution rights that is in any manner adverse to the holder hereof (other than a restatement, amendment, modification or waiver that applies on
the same terms to all holders of Series Preferred) will not be effective against the holder hereof without such holder’s prior written consent. The Company shall promptly provide the holder hereof with any restatement, amendment, modification
or waiver of such antidilution rights in the Charter promptly after the same has been made. 
 (f) Conversion of Series Preferred. In
the event all outstanding shares of Series Preferred are converted into shares of Common Stock pursuant to the provisions of the Charter, this Warrant shall thereafter entitle the holder hereof to purchase (at the aggregate Warrant Price in effect
immediately prior to the time of such conversion) that number of shares of Common Stock into which the number of shares of Series Preferred for which this Warrant is exercisable would have converted had such shares of Series Preferred been issued
immediately prior to the conversion. 
 5. Notice of Adjustments. Whenever the Warrant Price or the number of Shares purchasable hereunder shall be
adjusted pursuant to Section 4 hereof, the Company shall make a certificate signed by its chief financial officer setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such
adjustment was calculated, and the Warrant Price and the number of Shares purchasable hereunder after giving effect to such adjustment, and shall cause copies of such certificate to be mailed (without regard to Section 13 hereof, by first class
mail, postage prepaid) to the holder of this Warrant. In addition, whenever the conversion price or conversion ratio of the Series Preferred shall be adjusted in accordance with the Charter, the Company shall make a certificate signed by its chief
financial officer setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was calculated, and the conversion price or ratio of the Series Preferred after giving
effect to such adjustment, and shall cause copies of such certificate to be mailed (without regard to Section 13 hereof, by first class mail, postage prepaid) to the holder of this Warrant. 
 6. Fractional Shares. No fractional shares of Series Preferred will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the
Company shall make a cash payment therefor based on the fair market value of the Series Preferred on the date of exercise as reasonably determined in good faith by the Company’s Board of Directors. 
 7. Compliance with Act; Disposition of Warrant or Shares of Series Preferred. 
 (a) Compliance with Act. The holder of this Warrant, by acceptance hereof, agrees that this Warrant, and the shares of Series Preferred to be issued upon exercise hereof and any Common Stock issued upon
conversion thereof are being acquired for investment and that such holder will not offer, sell or otherwise dispose of this Warrant, or any shares of Series Preferred to be issued 

 
upon exercise hereof or any Common Stock issued upon conversion thereof except under circumstances which will not result in a violation of the Securities Act
of 1933, as amended (the “Act”) or applicable state securities laws. Upon exercise of this Warrant, unless the Shares being acquired are registered under the Act and any applicable state securities laws or an exemption from such
registration is available, the holder hereof shall confirm in writing that the shares of Series Preferred so purchased (and any shares of Common Stock issued upon conversion thereof) are being acquired for investment and not with a view toward
distribution or resale in violation of the Act and shall confirm such other matters related thereto as may be reasonably requested by the Company. This Warrant and all shares of Series Preferred issued upon exercise of this Warrant and all shares of
Common Stock issued upon conversion thereof (unless registered under the Act and any applicable state securities laws) shall be stamped or imprinted with a legend in substantially the following form: 
 “THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. NO SALE OR DISPOSITION MAY BE
EFFECTED WITHOUT (i) EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATIONS ARE NOT REQUIRED, (iii) RECEIPT OF NO-ACTION LETTERS
FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 7 OF THE WARRANT UNDER WHICH THESE SECURITIES WERE ISSUED, DIRECTLY OR INDIRECTLY.” 
 Said legend shall be removed by the Company, upon the request of a holder, at such time as the restrictions on the transfer of the applicable security
shall have terminated. In addition, in connection with the issuance of this Warrant, the holder specifically represents to the Company by acceptance of this Warrant as follows: 
 (i) The holder is aware of the Company’s business affairs and financial condition, and has acquired information about the Company sufficient to
reach an informed and knowledgeable decision to acquire this Warrant. The holder is acquiring this Warrant for its own account for investment purposes only and not with a view to, or for the resale in connection with, any “distribution”
thereof in violation of the Act. 
 (ii) The holder understands that this Warrant has not been registered under the Act in reliance upon a
specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the holder’s investment intent as expressed herein. 
 (iii) The holder further understands that this Warrant must be held indefinitely unless subsequently registered under the Act and qualified under any applicable state securities laws, or unless exemptions from
registration and qualification are otherwise available. The holder is aware of the provisions of Rule 144, promulgated under the Act. 
 (iv) The holder is an “accredited investor” as such term is defined in Rule 501 of Regulation D promulgated under the Act. 
 (b) Disposition of Warrant or Shares. With respect to any offer, sale or other disposition of this Warrant or any shares of Series Preferred acquired pursuant to the exercise of this Warrant prior to registration of such Warrant or
shares, the holder hereof 

 
agrees to give written notice to the Company prior thereto, describing briefly the manner thereof, together with a written opinion of such holder’s
counsel, or other evidence, if reasonably satisfactory to the Company, to the effect that such offer, sale or other disposition may be effected without registration or qualification (under the Act as then in effect or any federal or state securities
law then in effect) of this Warrant or such shares of Series Preferred or Common Stock and indicating whether or not under the Act certificates for this Warrant or such shares of Series Preferred to be sold or otherwise disposed of require any
restrictive legend as to applicable restrictions on transferability in order to ensure compliance with such law. Upon receiving such written notice and reasonably satisfactory opinion or other evidence, the Company, as promptly as practicable but no
later than fifteen (15) days after receipt of the written notice, shall notify such holder that such holder may sell or otherwise dispose of this Warrant or such shares of Series Preferred or Common Stock, all in accordance with the terms of
the notice delivered to the Company. If a determination has been made pursuant to this Section 7(b) that the opinion of counsel for the holder or other evidence is not reasonably satisfactory to the Company, the Company shall so notify the
holder promptly with details thereof after such determination has been made. Notwithstanding the foregoing, this Warrant or such shares of Series Preferred or Common Stock may, as to such federal laws, be offered, sold or otherwise disposed of in
accordance with Rule 144 or 144A under the Act, provided that the Company shall have been furnished with such information as the Company may reasonably request to provide a reasonable assurance that the provisions of Rule 144 or 144A have been
satisfied. Each certificate representing this Warrant or the shares of Series Preferred thus transferred (except a transfer pursuant to Rule 144 or 144A) shall bear a legend as to the applicable restrictions on transferability in order to ensure
compliance with such laws, unless in the aforesaid opinion of counsel for the holder, such legend is not required in order to ensure compliance with such laws. The Company may issue stop transfer instructions to its transfer agent in connection with
such restrictions. 
 (c) Applicability of Restrictions. Neither any restrictions of any legend described in this Warrant nor the
requirements of Section 7(b) above shall apply to any transfer of, or grant of a security interest in, this Warrant (or the Series Preferred or Common Stock obtainable upon exercise thereof) or any part hereof (i) to a partner of the
holder if the holder is a partnership or to a member of the holder if the holder is a limited liability company, (ii) to a partnership of which the holder is a partner or to a limited liability company of which the holder is a member, or
(iii) to any affiliate of the holder if the holder is a corporation; provided, however, that the transferor shall give prior notice to the Company of such transfer and in any such transfer, if applicable, the transferee shall on the
Company’s request agree in writing to be bound by the terms of this Warrant as if an original holder hereof. 
 (d) Subsequent
Transfers. As a condition to the effectiveness of any transfer of this Warrant, the transferee shall on the Company’s request agree in writing to be bound by the terms of this Warrant as if an original holder hereof. 
 8. Rights as Shareholders; Information. No holder of this Warrant, as such, shall be entitled to vote or receive dividends or be deemed the holder of Series
Preferred or any other securities of the Company which may at any time be issuable upon the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon the holder of this Warrant, as such, any of the rights of a
shareholder of the Company or any right to vote for the election of directors or upon any matter submitted to shareholders at any meeting thereof, or to receive notice of meetings, or to receive dividends or subscription rights or otherwise until
this Warrant shall have been exercised and the Shares purchasable upon the exercise hereof shall have become deliverable, as provided herein. 

 
Notwithstanding the foregoing, the Company will transmit to the holder of this Warrant such information, documents and reports as are generally distributed
to the holders of any class or series of the securities of the Company concurrently with the distribution thereof to the shareholders. 
 9. Registration
Rights. Pursuant to a separate Joinder Agreement dated on or about the Date of Grant executed by the Company and the holder on the Date of Grant, the Company grants registration rights to the holder of this Warrant for any Common Stock of the
Company obtained upon conversion of the Series Preferred, comparable to the registration rights granted to the investors in that certain Investors’ Rights Agreement dated as of January 31, 2003, (the “Investors’ Rights
Agreement”), with the following exceptions and clarifications, all as set forth in and subject to the above-referenced Joinder Agreement: 
 (i) The holder will not have the right to demand registration, but can otherwise participate in any registration demanded by others in accordance with the terms of the Investors’ Rights Agreement. 
 (ii) The holder will be subject to the same provisions regarding indemnification as contained in the Investors’ Rights Agreement. 
 (iii) The registration rights are freely assignable by the holder of this Warrant in connection with a permitted transfer of this Warrant or the Shares.

 10. Additional Rights. 
 10.1
Acquisition Transactions. The Company shall provide the holder of this Warrant with at least twenty (20) days’ written notice prior to closing thereof of the terms and conditions of any of the following transactions (to the extent
the Company has notice thereof): (i) the sale, lease, exchange, conveyance or other disposition of all or substantially all of the Company’s property or business, or (ii) its merger into or consolidation with any other corporation
(other than a wholly-owned subsidiary of the Company), or any transaction (including a merger or other reorganization) or series of related transactions, in which more than 50% of the voting power of the Company is disposed of. 
 10.2 Right to Convert Warrant into Stock: Net Issuance. 
 (a) Right to Convert. In addition to and without limiting the rights of the holder under the terms of this Warrant, the holder shall have the right to convert this Warrant or any portion thereof (the
“Conversion Right”) into shares of Series Preferred as provided in this Section 10.2 at any time or from time to time during the term of this Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares
subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the holder (without payment by the holder of any exercise price or any cash or other consideration) that number of shares of fully paid and
nonassessable Series Preferred as is determined according to the following formula: 
  

							
	 X
	 	=	  	B - A	  	
		 		  	Y	  	
			
		 	Where: X =	  	the number of shares of Series Preferred that shall be issued to holder

							
			
		 	                Y =	  	the fair market value of one share of Series Preferred
			
		 	A =	  	the aggregate Warrant Price of the specified number of Converted Warrant Shares immediately prior to the exercise of the Conversion Right (i.e., the number of Converted Warrant Shares
multiplied by the Warrant Price)
			
		 	B =	  	the aggregate fair market value of the specified number of Converted Warrant Shares (i.e., the number of Converted Warrant Shares multiplied by the fair market value of one
Converted Warrant Share)

 No fractional shares shall be issuable upon exercise of the Conversion Right, and, if the number
of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date
(as hereinafter defined). For purposes of Section 10 of this Warrant, shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of this Warrant. 
 (b) Method of Exercise. The Conversion Right may be exercised by the holder by the surrender of this Warrant at the principal office of the
Company together with a written statement (which may be in the form of Exhibit A-1 or Exhibit A-2 hereto) specifying that the holder thereby intends to exercise the Conversion Right and indicating the number of shares subject to this Warrant which
are being surrendered (referred to in Section 10.2(a) hereof as the Converted Warrant Shares) in exercise of the Conversion Right. Such conversion shall be effective upon receipt by the Company of this Warrant together with the aforesaid
written statement, or on such later date as is specified therein (the “Conversion Date”), and, at the election of the holder hereof, may be made contingent upon the closing of the sale of the Company’s Common Stock to the public in a
public offering pursuant to a Registration Statement under the Act (a “Public Offering”). Certificates for the shares issuable upon exercise of the Conversion Right and, if applicable, a new warrant evidencing the balance of the shares
remaining subject to this Warrant, shall be issued as of the Conversion Date and shall be delivered to the holder within thirty (30) days following the Conversion Date. 
 (c) Determination of Fair Market Value. For purposes of this Section 10.2, “fair market value” of a share of Series Preferred (or
Common Stock if the Series Preferred has been automatically converted into Common Stock) as of a particular date (the “Determination Date”) shall mean: 
 (i) If the Conversion Right is exercised in connection with and contingent upon a Public Offering, and if the Company’s Registration Statement relating to such Public Offering (“Registration Statement”)
has been declared effective by the Securities and Exchange Commission, then the initial “Price to Public” specified in the final prospectus with respect to such offering. 
 (ii) If the Conversion Right is not exercised in connection with and contingent upon a Public Offering, then as follows: 
 (A) If traded on a securities exchange, the fair market value of the Common Stock shall be deemed to be the average of the closing prices of the Common
Stock on such exchange over the five trading days immediately prior to the Determination Date, and the fair market value of the Series Preferred shall be deemed to be such fair market value of the Common Stock multiplied by the number of shares of
Common Stock into which each share of Series Preferred is then convertible; 

 (B) If traded on the Nasdaq Stock Market or other over-the-counter system, the fair market value of the
Common Stock shall be deemed to be the average of the closing bid prices of the Common Stock over the five trading days immediately prior to the Determination Date, and the fair market value of the Series Preferred shall be deemed to be such fair
market value of the Common Stock multiplied by the number of shares of Common Stock into which each share of Series Preferred is then convertible; and 
 (C) If there is no public market for the Common Stock, then fair market value shall be determined by the Board of Directors of the Company in good faith. 
 In making a determination under clauses (A) or (B) above, if on the Determination Date, five trading days had not passed since the closing of the Company’s initial public offering of its Common Stock
(“IPO”) effected pursuant to a Registration Statement on Form S-1 (or its successor) filed under the Act, then the fair market value of the Common Stock shall be the average closing prices or closing bid prices, as applicable, for the
shorter period beginning on and including the date of the IPO and ending on the trading day prior to the Determination Date (or if such period includes only one trading day the closing price or closing bid price, as applicable, for such trading
day). If closing prices or closing bid prices are no longer reported by a securities exchange or other trading system, the closing price or closing bid price shall be that which is reported by such securities exchange or other trading system at 4:00
p.m New York City time on the applicable trading day. 
 10.3 Exercise Prior to Expiration. To the extent this Warrant is not
previously exercised as to all of the Shares subject hereto, and if the fair market value of one share of the Series Preferred is greater than the Warrant Price then in effect, this Warrant shall be deemed automatically exercised pursuant to
Section 10.2 above (even if not surrendered) immediately before its expiration. For purposes of such automatic exercise, the fair market value of one share of the Series Preferred upon such expiration shall be determined pursuant to
Section 10.2(c). To the extent this Warrant or any portion thereof is deemed automatically exercised pursuant to this Section 10.3, the Company agrees to promptly notify the holder hereof of the number of Shares, if any, the holder hereof
is to receive by reason of such automatic exercise. 
 11. Representations and Warranties. The Company represents and warrants to the holder of this
Warrant as follows: 
 (a) This Warrant has been duly authorized and executed by the Company and is a valid and binding obligation of the
Company enforceable in accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors and the rules of law or principles at equity governing specific performance, injunctive relief and
other equitable remedies. 
 (b) The Shares have been duly authorized and reserved for issuance by the Company and, when issued in accordance
with the terms hereof, will be validly issued, fully paid and nonassessable and free from preemptive rights. 
 (c) The rights, preferences,
privileges and restrictions granted to or imposed upon the Series Preferred and the holders thereof are as set forth in the Charter, and on the Date of Grant, each share of the Series Preferred represented by this Warrant is convertible into one
share of Common Stock. 

 (d) The shares of Common Stock issuable upon conversion of the Shares have been duly authorized and
reserved for issuance by the Company and, when issued in accordance with the terms of the Charter will be validly issued, fully paid and nonassessable. 
 (e) The execution and delivery of this Warrant are not, and the issuance of the Shares upon exercise of this Warrant in accordance with the terms hereof will not be, inconsistent with the Company’s Charter or
by-laws, do not and will not contravene any law, governmental rule or regulation, judgment or order applicable to the Company, and do not and will not conflict with or contravene any provision of, or constitute a default under, any indenture,
mortgage, contract or other instrument of which the Company is a party or by which it is bound or require the consent or approval of, the giving of notice to, the registration or filing with or the taking of any action in respect of or by, any
Federal, state or local government authority or agency or other person, except for the filing of notices pursuant to federal and state securities laws, which filings will be effected by the time required thereby, and except for any required
consents, approvals and waivers that have been obtained. 
 (f) There are no actions, suits, audits, investigations or proceedings pending
or, to the knowledge of the Company, threatened against the Company in any court or before any governmental commission, board or authority which, if adversely determined, could have a material adverse effect on the ability of the Company to perform
its obligations under this Warrant. 
 (g) The number of shares of Common Stock of the Company outstanding on the date hereof, on a fully
diluted basis (assuming the conversion of all outstanding convertible securities and the exercise of all outstanding options and warrants), does not exceed 55,000,000 shares. 
 12. Modification and Waiver. This Warrant and any provision hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which enforcement of the same is
sought. 
 13. Notices. Any notice, request, communication or other document required or permitted to be given or delivered to the holder hereof or
the Company shall be delivered, or shall be sent by certified or registered mail, postage prepaid, to each such holder at its address as shown on the books of the Company or to the Company at the address indicated therefor on the signature page of
this Warrant. 
 14. Binding Effect on Successors. This Warrant shall be binding upon any corporation succeeding the Company by merger, consolidation
or acquisition of all or substantially all of the Company’s assets, and all of the obligations of the Company relating to the Series Preferred issuable upon the exercise or conversion of this Warrant shall survive the exercise, conversion and
termination of this Warrant and all of the covenants and agreements of the Company shall inure to the benefit of the successors and assigns of the holder hereof. 
 15. Lost Warrants or Stock Certificates. The Company covenants to the holder hereof that, upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant or any stock
certificate and, in the case of any such loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory to the Company, or in the case of any such mutilation upon surrender and cancellation of such Warrant or stock certificate, the
Company will make and deliver a new Warrant or stock certificate, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant or stock certificate. 

 16. Descriptive Headings. The descriptive headings of the various Sections of this Warrant are inserted for
convenience only and do not constitute a part of this Warrant. The language in this Warrant shall be construed as to its fair meaning without regard to which party drafted this Warrant. 
 17. Governing Law. This Warrant shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the laws of the State of Delaware. 
 18. Survival of Representations, Warranties and Agreements. All representations and warranties of the Company and the holder hereof contained herein shall survive
the Date of Grant, the exercise or conversion of this Warrant (or any part hereof) or the termination or expiration of rights hereunder. All agreements of the Company and the holder hereof contained herein shall survive indefinitely until, by their
respective terms, they are no longer operative. 
 19. Remedies. In case any one or more of the covenants and agreements contained in this Warrant
shall have been breached, the holders hereof (in the case of a breach by the Company), or the Company (in the case of a breach by a holder), may proceed to protect and enforce their or its rights either by suit in equity and/or by action at law,
including, but not limited to, an action for damages as a result of any such breach and/or an action for specific performance of any such covenant or agreement contained in this Warrant. 
 20. No Impairment of Rights. The Company will not, by amendment of its Charter or through any other means, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at
all times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the holder of this Warrant against impairment. 
 21. Severability. The invalidity or unenforceability of any provision of this Warrant in any jurisdiction shall not affect the validity or enforceability of such
provision in any other jurisdiction, or affect any other provision of this Warrant, which shall remain in full force and effect. 
 22. Recovery of
Litigation Costs. If any legal action or other proceeding is brought for the enforcement of this Warrant, or because of an alleged dispute, breach, default, or misrepresentation in connection with any of the provisions of this Warrant, the
successful or prevailing party or parties shall be entitled to recover reasonable attorneys’ fees and other costs incurred in that action or proceeding, in addition to any other relief to which it or they may be entitled. 
 23. Entire Agreement; Modification. This Warrant constitutes the entire agreement between the parties pertaining to the subject matter contained in it and
supersedes all prior and contemporaneous agreements, representations, and undertakings of the parties, whether oral or written, with respect to such subject matter. 

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

			
	TISSUELINK MEDICAL, INC.
		
	By:	 	 /s/ M. Jacqueline Eastwood

	Name:	 	M. Jacqueline Eastwood
	Title:	 	President and CEO
		
	Address:	 	One Washington Center, Suite 400 Dover, New Hampshire 03820

  

 -13- 

 EXHIBIT A-1 
 NOTICE OF EXERCISE 
 To: TISSUELINK MEDICAL, INC. (the “Company”) 
 1. The undersigned hereby: 
  

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

  

	 	 ̈	elects to exercise its net issuance rights pursuant to Section 10.2 of the attached Warrant with respect to
                         Shares of [Series Preferred Stock] [Common Stock]. 

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

  

									
		  		  	  
	  		  	
		  		  	(Name)	  		  	
					
		  		  	  
	  		  	
		  		  	  
	  		  	
		  		  	(Address)	  		  	

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

	
	  

	(Signature)

  

					
	(Date)	 		 	
	  
	 		 	

 EXHIBIT A-2 
 NOTICE OF EXERCISE 
 To: TISSUELINK MEDICAL, INC. (the “Company”) 
 1. Contingent upon and effective immediately prior to the closing (the “Closing”) of the Company’s public offering contemplated by the
Registration Statement on Form S        , filed                         ,
200    , the undersigned hereby: 
  ̈ elects to purchase
                 shares of [Series Preferred Stock] [Common Stock] of the Company (or such lesser number of shares as may be sold on behalf of the undersigned at
the Closing) pursuant to the terms of the attached Warrant, or 
  ̈ elects to exercise its net issuance
rights pursuant to Section 10.2 of the attached Warrant with respect                      to Shares of [Series Preferred Stock] [Common
Stock]. 
 2. Please deliver to the custodian for the selling shareholders a stock certificate representing such
                     shares. 
 3.
The undersigned has instructed the custodian for the selling shareholders to deliver to the Company $                 or, if less, the net proceeds due the
undersigned from the sale of shares in the aforesaid public offering. If such net proceeds are less than the purchase price for such shares, the undersigned agrees to deliver the difference to the Company prior to the Closing. 
  

	
	  

	(Signature)

  

					
	  
	 		 	
	(Date)	 		 	

 THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR ANY STATE SECURITIES LAWS. NO SALE
OR DISPOSITION MAY BE EFFECTED WITHOUT (i) EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATIONS ARE NOT REQUIRED,
(iii) RECEIPT OF NO-ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 7 OF THIS WARRANT. 
 TISSUELINK MEDICAL, INC 
 WARRANT TO PURCHASE SHARES 
 OF SERIES PREFERRED STOCK 
 THIS CERTIFIES
THAT, for value received, HORIZON TECHNOLOGY FUNDING COMPANY III LLC and its assignees are entitled to subscribe for and purchase that number of shares of Series Preferred Stock (as adjusted pursuant to Section 4 hereof, the “Shares”)
of TISSUELINK MEDICAL, INC., a Delaware corporation (the “Company”), as is determined pursuant to the next paragraph hereof at the price per share as is determined pursuant to the next paragraph hereof (such price and such other price as
shall result, from time to time, from the adjustments specified in Section 4 hereof is herein referred to as the “Warrant Price”), subject to the provisions and upon the terms and conditions hereinafter set forth. As used herein,
(a) the term “Series Preferred” shall mean, (i) if the Warrant Price is less than $1.263, shares of the Company’s convertible preferred stock sold in the Company’s next Qualified Financing (as defined below) or
(ii) if the Warrant Price is equal to $1.263, the Company’s presently authorized Series D Convertible Preferred Stock, and any stock into or for which such Series Preferred may hereafter be converted or exchanged, and after the automatic
conversion of the Series Preferred into Common Stock shall mean the Company’s Common Stock, (b) the term “Date of Grant” shall mean September 1, 2006, and (c) the term “Other Warrants” shall mean any other
warrants issued by the Company in connection with the transaction contemplated by a certain Loan Agreement by and between the Company and Horizon Technology Funding Company LLC (“Lender”) dated as of March 17, 2005, as amended by a
certain Amendment of Venture Loan and Security Agreement by and between Company and Lender dated as of the Date of Grant, with respect to which this Warrant was issued, and any warrant issued upon transfer or partial exercise of or in lieu of this
Warrant. The term “Warrant” as used herein shall be deemed to include Other Warrants unless the context clearly requires otherwise. 
 The “Warrant Price” shall be the lower of (i) $1.263 and (ii) the lowest effective price per share (on a common stock equivalent basis and taking into account any securities issued together with the preferred stock) at
which shares of the Company’s convertible preferred stock are sold in its next Qualified Financing; provided, however, if the Qualified Financing has not closed prior to the exercise of this Warrant, then the Warrant Price shall be
$1.263 and the Shares for which this Warrant may be exercised or exchanged shall be the Series D Convertible Preferred Stock. A “Qualified Financing” shall mean the sale of the convertible preferred stock of the Company to purchasers which
include venture capital investors with an aggregate sales price of not less than $10,000,000, including any and all convertible bridge notes that are converted into shares of convertible preferred stock in connection with the Qualified Financing.
The number of shares for which this Warrant is exercisable shall be the nearest whole number determined by dividing $150,000 by the Warrant Price determined pursuant to this paragraph. 

 1. Term. The purchase right represented by this Warrant is exercisable, in whole or in part, at any time and from
time to time from the Date of Grant through ten (10) years after the Date of Grant. 
 2. Method of Exercise; Payment; Issuance of New Warrant.
Subject to Section 1 hereof, the purchase right represented by this Warrant may be exercised by the holder hereof, in whole or in part and from time to time, at the election of the holder hereof, by (a) the surrender of this Warrant (with
the notice of exercise substantially in the form attached hereto as Exhibit A-1 duly completed and executed) at the principal office of the Company and by the payment to the Company, by certified or bank check, or by wire transfer to an account
designated by the Company (a “Wire Transfer”) of an amount equal to the then applicable Warrant Price multiplied by the number of Shares then being purchased; (b) if in connection with a registered public offering of the
Company’s securities, the surrender of this Warrant (with the notice of exercise form attached hereto as Exhibit A-2 duly completed and executed) at the principal office of the Company together with notice of arrangements reasonably
satisfactory to the Company for payment to the Company either by certified or bank check or by Wire Transfer from the proceeds of the sale of shares to be sold by the holder in such public offering of an amount equal to the then applicable Warrant
Price per share multiplied by the number of Shares then being purchased (provided, however, that this clause (b) shall not be deemed to entitle the holder hereof to sell any Shares in any public offering of the Company’s securities) ; or
(c) exercise of the “net issuance” right provided for in Section 10.2 hereof. The person or persons in whose name(s) any certificate(s) representing shares of Series Preferred shall be issuable upon exercise of this Warrant shall
be deemed to have become the holder(s) of record of, and shall be treated for all purposes as the record holder(s) of, the shares represented thereby (and such shares shall be deemed to have been issued) immediately prior to the close of business on
the date or dates upon which this Warrant is exercised. In the event of any exercise of the rights represented by this Warrant, certificates for the shares of stock so purchased shall be delivered to the holder hereof as soon as possible and in any
event within thirty (30) days after such exercise and, unless this Warrant has been fully exercised or expired, a new Warrant representing the portion of the Shares, if any, with respect to which this Warrant shall not then have been exercised
shall also be issued to the holder hereof as soon as possible and in any event within such thirty-day period; provided, however, at such time as the Company is subject to the reporting requirements of the Securities Exchange Act of 1934, as amended,
if requested by the holder of this Warrant, the Company shall cause its transfer agent to deliver the certificate representing Shares issued upon exercise of this Warrant to a broker or other person (as directed by the holder exercising this
Warrant) within the time period required to settle any trade made by the holder after exercise of this Warrant. 
 3. Stock Fully Paid; Reservation of
Shares. All Shares that may be issued upon the exercise of the rights represented by this Warrant will, upon issuance pursuant to the terms and conditions herein, be fully paid and nonassessable, and free from all preemptive rights and taxes,
liens and charges with respect to the issue thereof. During the period within which the rights represented by this Warrant may be exercised, the Company will at all times have authorized, and reserved for the purpose of the issue upon exercise of
the purchase rights evidenced by this Warrant, a sufficient number of shares of its Series Preferred to provide for the exercise of the rights represented by this Warrant and a sufficient number of shares of its Common Stock to provide for the
conversion of the Series Preferred into Common Stock. 
 4. Adjustment of Warrant Price and Number of Shares. The number and kind of securities
purchasable upon the exercise of this Warrant and the Warrant Price shall be subject to adjustment from time to time upon the occurrence of certain events, as follows: 

 (a) Reclassification or Merger. In case of any reclassification or change of securities of the
class issuable upon exercise of this Warrant (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination), or in case of any merger of the Company with or
into another corporation (other than a merger with another corporation in which the Company is the acquiring and the surviving corporation and which does not result in any reclassification or change of outstanding securities issuable upon exercise
of this Warrant), or in case of any sale of all or substantially all of the assets of the Company, the Company, or such successor or purchasing corporation, as the case may be, shall duly execute and deliver to the holder of this Warrant a new
Warrant (in form and substance satisfactory to the holder of this Warrant), so that the holder of this Warrant shall have the right to receive upon exercise of this Warrant, at a total purchase price not to exceed that payable upon the exercise of
the unexercised portion of this Warrant, and in lieu of the shares of Series Preferred theretofore issuable upon exercise of this Warrant, (i) the kind and amount of shares of stock, other securities, money and property receivable upon such
reclassification, change, merger or sale by a holder of the number of shares of Series Preferred then purchasable under this Warrant, or (ii) in the case of such a merger or sale in which the consideration paid consists all or in part of assets
other than securities of the successor or purchasing corporation, at the option of the holder of this Warrant, the securities of the successor or purchasing corporation having a value at the time of the transaction equivalent to the value of the
Series Preferred purchasable upon exercise of this Warrant at the time of the transaction. Any new Warrant shall provide for adjustments that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Section 4.
The provisions of this Section 4(a) shall similarly apply to successive reclassifications, changes, mergers and sales. 
 (b)
Subdivision or Combination of Shares. If the Company at any time while this Warrant remains outstanding and unexpired shall subdivide or combine its outstanding shares of Series Preferred, the Warrant Price shall be proportionately decreased
and the number of Shares issuable hereunder shall be proportionately increased in the case of a subdivision and the Warrant Price shall be proportionately increased and the number of Shares issuable hereunder shall be proportionately decreased in
the case of a combination. 
 (c) Stock Dividends and Other Distributions. If the Company at any time while this Warrant is
outstanding and unexpired shall (i) pay a dividend with respect to Series Preferred payable in Series Preferred, then the Warrant Price shall be adjusted, from and after the date of determination of shareholders entitled to receive such
dividend or distribution, to that price determined by multiplying the Warrant Price in effect immediately prior to such date of determination by a fraction (A) the numerator of which shall be the total number of shares of Series Preferred
outstanding immediately prior to such dividend or distribution, and (B) the denominator of which shall be the total number of shares of Series Preferred outstanding immediately after such dividend or distribution; or (ii) make any other
distribution with respect to Series Preferred (except any distribution specifically provided for in Sections 4(a) and 4(b)), then, in each such case, provision shall be made by the Company such that the holder of this Warrant shall receive upon
exercise of this Warrant a proportionate share of any such dividend or distribution as though it were the holder of the Series Preferred (or Common Stock issuable upon conversion thereof) as of the record date fixed for the determination of the
shareholders of the Company entitled to receive such dividend or distribution. 

 (d) Adjustment of Number of Shares. Upon each adjustment in the Warrant Price, the number of
Shares of Series Preferred purchasable hereunder shall be adjusted, to the nearest whole share, to the product obtained by multiplying the number of Shares purchasable immediately prior to such adjustment in the Warrant Price by a fraction, the
numerator of which shall be the Warrant Price immediately prior to such adjustment and the denominator of which shall be the Warrant Price immediately thereafter. 
 (e) Antidilution Rights. The other antidilution rights applicable to the Shares of Series Preferred purchasable hereunder are set forth in the Company’s Certificate of Incorporation, as amended through the
Date of Grant (the “Charter”). Any restatement, amendment, modification or waiver of such antidilution rights that is in any manner adverse to the holder hereof (other than a restatement, amendment, modification or waiver that applies on
the same terms to all holders of Series Preferred) will not be effective against the holder hereof without such holder’s prior written consent. The Company shall promptly provide the holder hereof with any restatement, amendment, modification
or waiver of such antidilution rights in the Charter promptly after the same has been made. 
 (f) Conversion of Series Preferred. In
the event all outstanding shares of Series Preferred are converted into shares of Common Stock pursuant to the provisions of the Charter, this Warrant shall thereafter entitle the holder hereof to purchase (at the aggregate Warrant Price in effect
immediately prior to the time of such conversion) that number of shares of Common Stock into which the number of shares of Series Preferred for which this Warrant is exercisable would have converted had such shares of Series Preferred been issued
immediately prior to the conversion. 
 5. Notice of Adjustments. Whenever the Warrant Price or the number of Shares purchasable hereunder shall be
adjusted pursuant to Section 4 hereof, the Company shall make a certificate signed by its chief financial officer setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such
adjustment was calculated, and the Warrant Price and the number of Shares purchasable hereunder after giving effect to such adjustment, and shall cause copies of such certificate to be mailed (without regard to Section 13 hereof, by first class
mail, postage prepaid) to the holder of this Warrant. In addition, whenever the conversion price or conversion ratio of the Series Preferred shall be adjusted in accordance with the Charter, the Company shall make a certificate signed by its chief
financial officer setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was calculated, and the conversion price or ratio of the Series Preferred after giving
effect to such adjustment, and shall cause copies of such certificate to be mailed (without regard to Section 13 hereof, by first class mail, postage prepaid) to the holder of this Warrant. 
 6. Fractional Shares. No fractional shares of Series Preferred will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the
Company shall make a cash payment therefor based on the fair market value of the Series Preferred on the date of exercise as reasonably determined in good faith by the Company’s Board of Directors. 
 7. Compliance with Act; Disposition of Warrant or Shares of Series Preferred. 
 (a) Compliance with Act. The holder of this Warrant, by acceptance hereof, agrees that this Warrant, and the shares of Series Preferred to be issued upon exercise hereof and any Common Stock issued upon
conversion thereof are being acquired for investment and that such holder will not offer, sell or otherwise dispose of this Warrant, or any shares of Series Preferred to be issued 

 
upon exercise hereof or any Common Stock issued upon conversion thereof except under circumstances which will not result in a violation of the Securities Act
of 1933, as amended (the “Act”) or applicable state securities laws. Upon exercise of this Warrant, unless the Shares being acquired are registered under the Act and any applicable state securities laws or an exemption from such
registration is available, the holder hereof shall confirm in writing that the shares of Series Preferred so purchased (and any shares of Common Stock issued upon conversion thereof) are being acquired for investment and not with a view toward
distribution or resale in violation of the Act and shall confirm such other matters related thereto as may be reasonably requested by the Company. This Warrant and all shares of Series Preferred issued upon exercise of this Warrant and all shares of
Common Stock issued upon conversion thereof (unless registered under the Act and any applicable state securities laws) shall be stamped or imprinted with a legend in substantially the following form: 
 “THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. NO SALE OR DISPOSITION MAY BE
EFFECTED WITHOUT (i) EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATIONS ARE NOT REQUIRED, (iii) RECEIPT OF NO-ACTION LETTERS
FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 7 OF THE WARRANT UNDER WHICH THESE SECURITIES WERE ISSUED, DIRECTLY OR INDIRECTLY.” 
 Said legend shall be removed by the Company, upon the request of a holder, at such time as the restrictions on the transfer of the applicable security
shall have terminated. In addition, in connection with the issuance of this Warrant, the holder specifically represents to the Company by acceptance of this Warrant as follows: 
 (i) The holder is aware of the Company’s business affairs and financial condition, and has acquired information about the Company sufficient to
reach an informed and knowledgeable decision to acquire this Warrant. The holder is acquiring this Warrant for its own account for investment purposes only and not with a view to, or for the resale in connection with, any “distribution”
thereof in violation of the Act. 
 (ii) The holder understands that this Warrant has not been registered under the Act in reliance upon a
specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the holder’s investment intent as expressed herein. 
 (iii) The holder further understands that this Warrant must be held indefinitely unless subsequently registered under the Act and qualified under any applicable state securities laws, or unless exemptions from
registration and qualification are otherwise available. The holder is aware of the provisions of Rule 144, promulgated under the Act. 
 (iv) The holder is an “accredited investor” as such term is defined in Rule 501 of Regulation D promulgated under the Act. 
 (b) Disposition of Warrant or Shares. With respect to any offer, sale or other disposition of this Warrant or any shares of Series Preferred acquired pursuant to the exercise of this Warrant prior to registration of such Warrant or
shares, the holder hereof 

 
agrees to give written notice to the Company prior thereto, describing briefly the manner thereof, together with a written opinion of such holder’s
counsel, or other evidence, if reasonably satisfactory to the Company, to the effect that such offer, sale or other disposition may be effected without registration or qualification (under the Act as then in effect or any federal or state securities
law then in effect) of this Warrant or such shares of Series Preferred or Common Stock and indicating whether or not under the Act certificates for this Warrant or such shares of Series Preferred to be sold or otherwise disposed of require any
restrictive legend as to applicable restrictions on transferability in order to ensure compliance with such law. Upon receiving such written notice and reasonably satisfactory opinion or other evidence, the Company, as promptly as practicable but no
later than fifteen (15) days after receipt of the written notice, shall notify such holder that such holder may sell or otherwise dispose of this Warrant or such shares of Series Preferred or Common Stock, all in accordance with the terms of
the notice delivered to the Company. If a determination has been made pursuant to this Section 7(b) that the opinion of counsel for the holder or other evidence is not reasonably satisfactory to the Company, the Company shall so notify the
holder promptly with details thereof after such determination has been made. Notwithstanding the foregoing, this Warrant or such shares of Series Preferred or Common Stock may, as to such federal laws, be offered, sold or otherwise disposed of in
accordance with Rule 144 or 144A under the Act, provided that the Company shall have been furnished with such information as the Company may reasonably request to provide a reasonable assurance that the provisions of Rule 144 or 144A have been
satisfied. Each certificate representing this Warrant or the shares of Series Preferred thus transferred (except a transfer pursuant to Rule 144 or 144A) shall bear a legend as to the applicable restrictions on transferability in order to ensure
compliance with such laws, unless in the aforesaid opinion of counsel for the holder, such legend is not required in order to ensure compliance with such laws. The Company may issue stop transfer instructions to its transfer agent in connection with
such restrictions. 
 (c) Applicability of Restrictions. Neither any restrictions of any legend described in this Warrant nor the
requirements of Section 7(b) above shall apply to any transfer of, or grant of a security interest in, this Warrant (or the Series Preferred or Common Stock obtainable upon exercise thereof) or any part hereof (i) to a partner of the
holder if the holder is a partnership or to a member of the holder if the holder is a limited liability company, (ii) to a partnership of which the holder is a partner or to a limited liability company of which the holder is a member, or
(iii) to any affiliate of the holder if the holder is a corporation; provided, however, that the transferor shall give prior notice to the Company of such transfer and in any such transfer, if applicable, the transferee shall on the
Company’s request agree in writing to be bound by the terms of this Warrant as if an original holder hereof. 
 (d) Subsequent
Transfers. As a condition to the effectiveness of any transfer of this Warrant, the transferee shall on the Company’s request agree in writing to be bound by the terms of this Warrant as if an original holder hereof. 
 8. Rights as Shareholders; Information. No holder of this Warrant, as such, shall be entitled to vote or receive dividends or be deemed the holder of Series
Preferred or any other securities of the Company which may at any time be issuable upon the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon the holder of this Warrant, as such, any of the rights of a
shareholder of the Company or any right to vote for the election of directors or upon any matter submitted to shareholders at any meeting thereof, or to receive notice of meetings, or to receive dividends or subscription rights or otherwise until
this Warrant shall have been exercised and the Shares purchasable upon the exercise hereof shall have become deliverable, as provided herein. 

 
Notwithstanding the foregoing, the Company will transmit to the holder of this Warrant such information, documents and reports as are generally distributed
to the holders of any class or series of the securities of the Company concurrently with the distribution thereof to the shareholders. 
 9. Registration
Rights. Pursuant to a separate Joinder Agreement dated on or about the Date of Grant executed by the Company and the holder on the Date of Grant, the Company grants registration rights to the holder of this Warrant for any Common Stock of the
Company obtained upon conversion of the Series Preferred, comparable to the registration rights granted to the investors in that certain Investors’ Rights Agreement dated as of January 31, 2003, (the “Investors’ Rights
Agreement”), with the following exceptions and clarifications, all as set forth in and subject to the above-referenced Joinder Agreement: 
 (i) The holder will not have the right to demand registration, but can otherwise participate in any registration demanded by others in accordance with the terms of the Investors’ Rights Agreement. 
 (ii) The holder will be subject to the same provisions regarding indemnification as contained in the Investors’ Rights Agreement. 
 (iii) The registration rights are freely assignable by the holder of this Warrant in connection with a permitted transfer of this Warrant or the Shares.

 10. Additional Rights. 
 10.1
Acquisition Transactions. The Company shall provide the holder of this Warrant with at least twenty (20) days’ written notice prior to closing thereof of the terms and conditions of any of the following transactions (to the extent
the Company has notice thereof): (i) the sale, lease, exchange, conveyance or other disposition of all or substantially all of the Company’s property or business, or (ii) its merger into or consolidation with any other corporation
(other than a wholly-owned subsidiary of the Company), or any transaction (including a merger or other reorganization) or series of related transactions, in which more than 50% of the voting power of the Company is disposed of. 
 10.2 Right to Convert Warrant into Stock: Net Issuance. 
 (a) Right to Convert. In addition to and without limiting the rights of the holder under the terms of this Warrant, the holder shall have the right to convert this Warrant or any portion thereof (the
“Conversion Right”) into shares of Series Preferred as provided in this Section 10.2 at any time or from time to time during the term of this Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares
subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the holder (without payment by the holder of any exercise price or any cash or other consideration) that number of shares of fully paid and
nonassessable Series Preferred as is determined according to the following formula: 
  

							
	 X
	 	=	  	B - A	  	
		 		  	Y	  	
			
		 	Where: X =	  	the number of shares of Series Preferred that shall be issued to holder

							
			
		 	                Y =	  	the fair market value of one share of Series Preferred
			
		 	A =	  	the aggregate Warrant Price of the specified number of Converted Warrant Shares immediately prior to the exercise of the Conversion Right (i.e., the number of Converted Warrant Shares
multiplied by the Warrant Price) 
			
		 	B =	  	the aggregate fair market value of the specified number of Converted Warrant Shares (i.e., the number of Converted Warrant Shares multiplied by the fair market value of one
Converted Warrant Share) 

 No fractional shares shall be issuable upon exercise of the Conversion Right, and, if the number
of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date
(as hereinafter defined). For purposes of Section 10 of this Warrant, shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of this Warrant. 
 (b) Method of Exercise. The Conversion Right may be exercised by the holder by the surrender of this Warrant at the principal office of the
Company together with a written statement (which may be in the form of Exhibit A-1 or Exhibit A-2 hereto) specifying that the holder thereby intends to exercise the Conversion Right and indicating the number of shares subject to this Warrant which
are being surrendered (referred to in Section 10.2(a) hereof as the Converted Warrant Shares) in exercise of the Conversion Right. Such conversion shall be effective upon receipt by the Company of this Warrant together with the aforesaid
written statement, or on such later date as is specified therein (the “Conversion Date”), and, at the election of the holder hereof, may be made contingent upon the closing of the sale of the Company’s Common Stock to the public in a
public offering pursuant to a Registration Statement under the Act (a “Public Offering”). Certificates for the shares issuable upon exercise of the Conversion Right and, if applicable, a new warrant evidencing the balance of the shares
remaining subject to this Warrant, shall be issued as of the Conversion Date and shall be delivered to the holder within thirty (30) days following the Conversion Date. 
 (c) Determination of Fair Market Value. For purposes of this Section 10.2, “fair market value” of a share of Series Preferred (or
Common Stock if the Series Preferred has been automatically converted into Common Stock) as of a particular date (the “Determination Date”) shall mean: 
 (i) If the Conversion Right is exercised in connection with and contingent upon a Public Offering, and if the Company’s Registration Statement relating to such Public Offering (“Registration Statement”)
has been declared effective by the Securities and Exchange Commission, then the initial “Price to Public” specified in the final prospectus with respect to such offering. 
 (ii) If the Conversion Right is not exercised in connection with and contingent upon a Public Offering, then as follows: 
 (A) If traded on a securities exchange, the fair market value of the Common Stock shall be deemed to be the average of the closing prices of the Common
Stock on such exchange over the five trading days immediately prior to the Determination Date, and the fair market value of the Series Preferred shall be deemed to be such fair market value of the Common Stock multiplied by the number of shares of
Common Stock into which each share of Series Preferred is then convertible; 

 (B) If traded on the Nasdaq Stock Market or other over-the-counter system, the fair market value of the
Common Stock shall be deemed to be the average of the closing bid prices of the Common Stock over the five trading days immediately prior to the Determination Date, and the fair market value of the Series Preferred shall be deemed to be such fair
market value of the Common Stock multiplied by the number of shares of Common Stock into which each share of Series Preferred is then convertible; and 
 (C) If there is no public market for the Common Stock, then fair market value shall be determined by the Board of Directors of the Company in good faith. 
 In making a determination under clauses (A) or (B) above, if on the Determination Date, five trading days had not passed since the closing of the Company’s initial public offering of its Common Stock
(“IPO”) effected pursuant to a Registration Statement on Form S-1 (or its successor) filed under the Act, then the fair market value of the Common Stock shall be the average closing prices or closing bid prices, as applicable, for the
shorter period beginning on and including the date of the IPO and ending on the trading day prior to the Determination Date (or if such period includes only one trading day the closing price or closing bid price, as applicable, for such trading
day). If closing prices or closing bid prices are no longer reported by a securities exchange or other trading system, the closing price or closing bid price shall be that which is reported by such securities exchange or other trading system at 4:00
p.m New York City time on the applicable trading day. 
 10.3 Exercise Prior to Expiration. To the extent this Warrant is not
previously exercised as to all of the Shares subject hereto, and if the fair market value of one share of the Series Preferred is greater than the Warrant Price then in effect, this Warrant shall be deemed automatically exercised pursuant to
Section 10.2 above (even if not surrendered) immediately before its expiration. For purposes of such automatic exercise, the fair market value of one share of the Series Preferred upon such expiration shall be determined pursuant to
Section 10.2(c). To the extent this Warrant or any portion thereof is deemed automatically exercised pursuant to this Section 10.3, the Company agrees to promptly notify the holder hereof of the number of Shares, if any, the holder hereof
is to receive by reason of such automatic exercise. 
 11. Representations and Warranties. The Company represents and warrants to the holder of this
Warrant as follows: 
 (a) This Warrant has been duly authorized and executed by the Company and is a valid and binding obligation of the
Company enforceable in accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors and the rules of law or principles at equity governing specific performance, injunctive relief and
other equitable remedies. 
 (b) The Shares have been duly authorized and reserved for issuance by the Company and, when issued in accordance
with the terms hereof, will be validly issued, fully paid and nonassessable and free from preemptive rights. 
 (c) The rights, preferences,
privileges and restrictions granted to or imposed upon the Series Preferred and the holders thereof are as set forth in the Charter, and on the Date of Grant, each share of the Series Preferred represented by this Warrant is convertible into one
share of Common Stock. 

 (d) The shares of Common Stock issuable upon conversion of the Shares have been duly authorized and
reserved for issuance by the Company and, when issued in accordance with the terms of the Charter will be validly issued, fully paid and nonassessable. 
 (e) The execution and delivery of this Warrant are not, and the issuance of the Shares upon exercise of this Warrant in accordance with the terms hereof will not be, inconsistent with the Company’s Charter or
by-laws, do not and will not contravene any law, governmental rule or regulation, judgment or order applicable to the Company, and do not and will not conflict with or contravene any provision of, or constitute a default under, any indenture,
mortgage, contract or other instrument of which the Company is a party or by which it is bound or require the consent or approval of, the giving of notice to, the registration or filing with or the taking of any action in respect of or by, any
Federal, state or local government authority or agency or other person, except for the filing of notices pursuant to federal and state securities laws, which filings will be effected by the time required thereby, and except for any required
consents, approvals and waivers that have been obtained. 
 (f) There are no actions, suits, audits, investigations or proceedings pending
or, to the knowledge of the Company, threatened against the Company in any court or before any governmental commission, board or authority which, if adversely determined, could have a material adverse effect on the ability of the Company to perform
its obligations under this Warrant. 
 (g) The number of shares of Common Stock of the Company outstanding on the date hereof, on a fully
diluted basis (assuming the conversion of all outstanding convertible securities and the exercise of all outstanding options and warrants), does not exceed 55,000,000 shares. 
 12. Modification and Waiver. This Warrant and any provision hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which enforcement of the same is
sought. 
 13. Notices. Any notice, request, communication or other document required or permitted to be given or delivered to the holder hereof or
the Company shall be delivered, or shall be sent by certified or registered mail, postage prepaid, to each such holder at its address as shown on the books of the Company or to the Company at the address indicated therefor on the signature page of
this Warrant. 
 14. Binding Effect on Successors. This Warrant shall be binding upon any corporation succeeding the Company by merger, consolidation
or acquisition of all or substantially all of the Company’s assets, and all of the obligations of the Company relating to the Series Preferred issuable upon the exercise or conversion of this Warrant shall survive the exercise, conversion and
termination of this Warrant and all of the covenants and agreements of the Company shall inure to the benefit of the successors and assigns of the holder hereof. 
 15. Lost Warrants or Stock Certificates. The Company covenants to the holder hereof that, upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant or any stock
certificate and, in the case of any such loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory to the Company, or in the case of any such mutilation upon surrender and cancellation of such Warrant or stock certificate, the
Company will make and deliver a new Warrant or stock certificate, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant or stock certificate. 

 16. Descriptive Headings. The descriptive headings of the various Sections of this Warrant are inserted for
convenience only and do not constitute a part of this Warrant. The language in this Warrant shall be construed as to its fair meaning without regard to which party drafted this Warrant. 
 17. Governing Law. This Warrant shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the laws of the State of Delaware. 
 18. Survival of Representations, Warranties and Agreements. All representations and warranties of the Company and the holder hereof contained herein shall survive
the Date of Grant, the exercise or conversion of this Warrant (or any part hereof) or the termination or expiration of rights hereunder. All agreements of the Company and the holder hereof contained herein shall survive indefinitely until, by their
respective terms, they are no longer operative. 
 19. Remedies. In case any one or more of the covenants and agreements contained in this Warrant
shall have been breached, the holders hereof (in the case of a breach by the Company), or the Company (in the case of a breach by a holder), may proceed to protect and enforce their or its rights either by suit in equity and/or by action at law,
including, but not limited to, an action for damages as a result of any such breach and/or an action for specific performance of any such covenant or agreement contained in this Warrant. 
 20. No Impairment of Rights. The Company will not, by amendment of its Charter or through any other means, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at
all times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the holder of this Warrant against impairment. 
 21. Severability. The invalidity or unenforceability of any provision of this Warrant in any jurisdiction shall not affect the validity or enforceability of such
provision in any other jurisdiction, or affect any other provision of this Warrant, which shall remain in full force and effect. 
 22. Recovery of
Litigation Costs. If any legal action or other proceeding is brought for the enforcement of this Warrant, or because of an alleged dispute, breach, default, or misrepresentation in connection with any of the provisions of this Warrant, the
successful or prevailing party or parties shall be entitled to recover reasonable attorneys’ fees and other costs incurred in that action or proceeding, in addition to any other relief to which it or they may be entitled. 
 23. Entire Agreement; Modification. This Warrant constitutes the entire agreement between the parties pertaining to the subject matter contained in it and
supersedes all prior and contemporaneous agreements, representations, and undertakings of the parties, whether oral or written, with respect to such subject matter. 

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

			
	TISSUELINK MEDICAL, INC.
		
	By:	 	 /s/ M. Jacqueline Eastwood

	Name:	 	M. Jacqueline Eastwood
	Title:	 	President and CEO
		
	Address:	 	One Washington Center, Suite 400 Dover, New Hampshire 03820

  

 -13- 

 EXHIBIT A-1 
 NOTICE OF EXERCISE 
 To: TISSUELINK MEDICAL, INC. (the “Company”) 
 1. The undersigned hereby: 
  

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

  

	 	 ̈	elects to exercise its net issuance rights pursuant to Section 10.2 of the attached Warrant with respect to
                         Shares of [Series Preferred Stock] [Common Stock]. 

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

  

									
		  		  	  
	  		  	
		  		  	(Name)	  		  	
					
		  		  	  
	  		  	
		  		  	  
	  		  	
		  		  	(Address)	  		  	

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

	
	  

	(Signature)

  

					
	(Date)	 		 	
	  
	 		 	

 EXHIBIT A-2 
 NOTICE OF EXERCISE 
 To: TISSUELINK MEDICAL, INC. (the “Company”) 
 1. Contingent upon and effective immediately prior to the closing (the “Closing”) of the Company’s public offering contemplated by the
Registration Statement on Form S        , filed                         ,
200    , the undersigned hereby: 
  ̈ elects to purchase
                         shares of [Series Preferred Stock] [Common Stock] of the Company (or such lesser number of shares
as may be sold on behalf of the undersigned at the Closing) pursuant to the terms of the attached Warrant, or 
  ̈ elects to exercise its net issuance rights pursuant to Section 10.2 of the attached Warrant with respect to Shares of [Series Preferred Stock] [Common Stock]. 
 2. Please deliver to the custodian for the selling shareholders a stock certificate representing such
                         shares. 
 3. The undersigned has instructed the custodian for the selling shareholders to deliver to the Company $                 or, if
less, the net proceeds due the undersigned from the sale of shares in the aforesaid public offering. If such net proceeds are less than the purchase price for such shares, the undersigned agrees to deliver the difference to the Company prior to the
Closing. 
  

	
	  

	(Signature)

  

					
	  
	 		 	
	(Date)

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