Document:

EX-4.4

 Exhibit 4.4 

THIS WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THEY MAY NOT BE
SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO SUCH SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. 

Trilypsa, Inc. 
 WARRANT
TO PURCHASE SERIES A PREFERRED STOCK 
  

			
	No. PCW-1	 	August 9, 2013

 Void After August 9, 2020 

THIS CERTIFIES THAT, for value received, SIBLING CO-INVESTMENT LLC, or its assigns (the
“Holder”), is entitled to subscribe for and purchase at the Exercise Price (defined below) from TRILYPSA, INC., a Delaware corporation, with its principal office at 400 East Jamie Court, Suite 201, South San Francisco, California,
94080 (the “Company”), shares of the equity securities of the Company of the same class and series as are issued and sold by the Company pursuant to the Qualified Financing (as defined below) (the “Series A Preferred Stock”) as
set forth below and subject to adjustment provided herein. 
 This Warrant is being issued pursuant to the terms of the Note and Warrant
Purchase Agreement, dated August 9, 2013, by and among the Company and the Holder (the “Note and Warrant Purchase Agreement”). Unless indicated otherwise, the number of shares of Series A Preferred Stock that Holder may purchase by
exercising this warrant is equal to the quotient of (A) seventeen percent (17%) multiplied by $500,000.00 divided by (B) the per share price of the Series A Preferred Stock sold in the Qualified Financing. 

1.    Definitions. As used herein, the following terms shall have the following respective meanings: 

(a)    “Exercise Period” shall mean the period commencing with the date hereof and ending seven
(7) years later, unless sooner terminated as provided below. 
 (b)    “Exercise Price” shall mean
the share price of the Series A Preferred Stock sold in the Qualified Financing, subject to adjustment pursuant to Section 5 below. 

(c)    “Exercise Shares” shall mean the shares of the Company’s Series A Preferred Stock issuable
upon exercise of this Warrant, subject to adjustment pursuant to the terms herein, including but not limited to adjustment pursuant to Section 5 below. 

(d)    “Note” shall mean the Convertible Promissory Note issued by the Company pursuant to the Note and
Warrant Purchase Agreement, as amended from time to time. 

  
 1 

 CONFIDENTIAL 

 1.2    “Qualified Financing” shall mean the sale and
issuance of the Company’s Series A Preferred Stock occurring prior to May 9, 2014 (the “Demand Date”) and following the date of the Note (the “Seed Closing Date”) which results in aggregate gross proceeds of at least
$8,000,000.00 (not including the aggregate principal amount and all accrued interest of the Note) (or such other lesser amount as is approved by at least seventy-five percent (75%) of the Company’s board of directors) to the Company from all
sales and issuances of its Series A Preferred Stock in financings after the Seed Closing Date. 

2.    Exercise of Warrant. The rights represented by this Warrant may be exercised in whole or in part at
any time during the Exercise Period, by delivery of the following to the Company at its address set forth above (or at such other address as it may designate by notice in writing to the Holder): 

(a)    An executed Notice of Exercise in the form attached hereto; 

(b)    Payment of the Exercise Price either (i) in cash or by check, or (ii) by cancellation of
indebtedness; and 
 (c)    This Warrant. 

Upon the exercise of the rights represented by this Warrant, a certificate or certificates for the Exercise Shares so purchased, registered in
the name of the Holder or persons affiliated with the Holder, if the Holder so designates, shall be issued and delivered to the Holder within a reasonable time after the rights represented by this Warrant shall have been so exercised. 

The person in whose name any certificate or certificates for Exercise Shares are to be issued upon exercise of this Warrant shall 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 Exercise Price was made, irrespective of the date of delivery of such certificate or certificates, except that, if the date of such
surrender and payment is a date when the stock transfer books of the Company 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. 
 2.1    Net Exercise. Notwithstanding any provisions herein to the contrary, if the fair market
value of one share of the Company’s Series A Preferred Stock is greater than the Exercise Price (at the date of calculation as set forth below), in lieu of exercising this Warrant by payment of cash, the Holder may elect to receive shares equal
to the value (as determined below) of this Warrant (or the portion thereof being canceled) by surrender of this Warrant at the principal office of the Company together with the properly endorsed Notice of Exercise in which event the Company shall
issue to the Holder a number of shares of Series A Preferred Stock computed using the following formula: 
 X = Y (A-B) 
             A 

Where X = the number of shares of Series A Preferred Stock to be issued to the 

Holder 

  
 2 

 CONFIDENTIAL 

	 	Y =	the number of shares of Series A Preferred Stock purchasable under the Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being canceled (at the date of such calculation)

  

	 	A =	the fair market value of one share of the Company’s Series A Preferred Stock (at the date of such calculation) 

  

	 	B =	Exercise Price (as adjusted to the date of such calculation) 

 For purposes of the above
calculation, the fair market value of one share of Series A Preferred Stock shall be determined by the Company’s board of directors; provided, however, that in the event that this Warrant is exercised pursuant to this Section 2.1 in
connection with the Company’s initial public offering of its Common Stock, the fair market value per share shall be the product of (i) the per share offering price to the public of the Company’s initial public offering, and
(ii) the number of shares of Common Stock into which each share of Series A Preferred Stock is convertible at the time of such exercise. 

3.    Covenants of the Company. 

3.1    Covenants as to Exercise Shares. The Company covenants and agrees that all Exercise Shares that may
be issued upon the exercise of the rights represented by this Warrant will, upon issuance, be validly issued and outstanding, fully paid and nonassessable, and free from all taxes, liens and charges with respect to the issuance thereof. The Company
further covenants and agrees that the Company will at all times during the Exercise Period, have authorized and reserved, free from preemptive rights, a sufficient number of shares of its Preferred Stock to provide for the exercise of the rights
represented by this Warrant. If at any time during the Exercise Period the number of authorized but unissued shares of Preferred Stock shall not be sufficient to permit exercise of this Warrant, the Company will take such corporate action as may, in
the opinion of its counsel, be necessary to increase its authorized but unissued shares of Preferred Stock to such number of shares as shall be sufficient for such purposes. 

3.2    No Impairment. Except and to the extent as waived or consented to by the Holder, the Company will
not, by amendment of its Certificate of Incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or
performance of any of the terms to be observed or performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all the provisions of this Warrant and in the taking of all such action as may be necessary or
appropriate in order to protect the exercise rights of the Holder against impairment. 
 3.3    Notices of
Record Date. In the event of any taking by the Company 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 (other than a cash dividend which is the
same as cash dividends paid in previous quarters) or other distribution, the Company shall mail to the Holder, at least ten (10) days prior to the date specified herein, a notice specifying the date on which any such record is to be taken for
the purpose of such dividend or distribution. 

  
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 CONFIDENTIAL 

 4.    Representations of Holder. 

4.1    Acquisition of Warrant for Personal Account and Accredited Investor Status. 

(a)    The Holder represents and warrants that it is acquiring the Warrant and the Exercise Shares solely for its
account for investment and not with a view to or for sale or distribution of said Warrant or Exercise Shares or any part thereof. The Holder also represents that the entire legal and beneficial interests of the Warrant and Exercise Shares the Holder
is acquiring is being acquired for, and will be held for, its account only. 
 (b)    The Holder is an
“accredited investor” as such term is defined in Rule 501 under the Act (as defined below). 

4.2    Securities Are Not Registered. 

(a)    The Holder understands that the Warrant and the Exercise Shares have not been registered under the Act on
the basis that no distribution or public offering of the stock of the Company is to be effected. The Holder realizes that the basis for the exemption may not be present if, notwithstanding its representations, the Holder has a present intention of
acquiring the securities for a fixed or determinable period in the future, selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the securities. The Holder has no such present intention.

 (b)    The Holder recognizes that the Warrant and the Exercise Shares must be held indefinitely unless they
are subsequently registered under the Act or an exemption from such registration is available. The Holder recognizes that the Company has no obligation to register the Warrant or the Exercise Shares of the Company, or to comply with any exemption
from such registration. 
 (c)    The Holder is aware that neither the Warrant nor the Exercise Shares may be
sold pursuant to Rule 144 adopted under the Act unless certain conditions are met, including, among other things, the existence of a public market for the shares, the availability of certain current public information about the Company, the resale
following the required holding period under Rule 144 and the number of shares being sold during any three month period not exceeding specified limitations. Holder is aware that the conditions for resale set forth in Rule 144 have not been satisfied
and that the Company presently has no plans to satisfy these conditions in the foreseeable future. 

4.3    Disposition of Warrant and Exercise Shares. 

(a)    The Holder further agrees not to make any disposition of all or any part of the Warrant or Exercise Shares
in any event unless and until: 
 (i)    The Company shall have received a letter secured by the Holder from the
Securities and Exchange Commission stating that no action will be recommended to the Commission with respect to the proposed disposition; 

  
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 CONFIDENTIAL 

 (ii)    There is then in effect a registration statement under the
Act covering such proposed disposition and such disposition is made in accordance with said registration statement; or 

(iii)    The Holder shall have notified the Company of the proposed disposition and shall have furnished the
Company with a detailed statement of the circumstances surrounding the proposed disposition, and if reasonably requested by the Company, the Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company,
for the Holder to the effect that such disposition will not require registration of such Warrant or Exercise Shares under the Act or any applicable state securities laws. 

(b)    The Holder understands and agrees that all certificates evidencing the shares to be issued to the Holder
may bear the following legend: 
 THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”). THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS
NOT REQUIRED. 
 5.    Adjustment of Exercise Price. In the event of changes in the outstanding Series A
Preferred Stock of the Company by reason of stock dividends, split-ups, recapitalizations, reclassifications, combinations or exchanges of shares, separations, reorganizations, liquidations, or the like, the
number and class of shares available under the Warrant in the aggregate and the Exercise Price shall be correspondingly adjusted to give the Holder of the Warrant, on exercise for the same aggregate Exercise Price, the total number, class, and kind
of shares as the Holder would have owned had the Warrant been exercised prior to the event and had the Holder continued to hold such shares until after the event requiring adjustment; provided, however, that such adjustment shall not be made with
respect to, and this Warrant shall terminate if not exercised prior to, the events set forth in Section 7 below. The form of this Warrant need not be changed because of any adjustment in the number of Exercise Shares subject to this Warrant.

 6.    Fractional Shares. No fractional shares shall be issued upon the exercise of this Warrant as a
consequence of any adjustment pursuant hereto. All Exercise Shares (including fractions) issuable upon exercise of this Warrant may be aggregated for purposes of determining whether the exercise would result in the issuance of any fractional share.
If, after aggregation, the exercise would result in the issuance of a fractional share, the Company shall, in lieu of issuance of any fractional share, pay the Holder otherwise entitled to such fraction a sum in cash equal to the product resulting
from multiplying the then current fair market value of an Exercise Share by such fraction. 
 7.    Early
Termination. 
 7.1    In the event of, at any time during the Exercise Period, an initial public offering of
securities of the Company registered under the Act, or any capital reorganization, or 

  
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 CONFIDENTIAL 

 
any reclassification of the capital stock of the Company (other than a change in par value or from par value to no par value or no par value to par value or as a result of a stock dividend or
subdivision, split-up or combination of shares), or the consolidation or merger of the Company with or into another corporation (other than a merger solely to effect a reincorporation of the Company into
another state), or the sale or other disposition of all or substantially all the properties and assets of the Company in its entirety to any other person, the Company shall provide to the Holder twenty (20) days advance written notice of such
public offering, reorganization, reclassification, consolidation, merger or sale or other disposition of the Company’s assets, and this Warrant shall terminate unless exercised prior to the date such public offering is closed or the occurrence
of such reorganization, reclassification, consolidation, merger or sale or other disposition of the Company’s assets. 

7.2    In the event a Qualified Financing does not occur on or before May 9, 2014, this Warrant shall
automatically terminate effective as of such date. 
 8.    Market
Stand-Off Agreement. Holder hereby agrees that Holder shall not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction
with the same economic effect as a sale, any shares of Common Stock (or other securities) of the Company held by Holder (other than those included in the registration) (i) during the 180-day period
following the effective date of the initial public offering (or such longer period as the underwriters or the Company shall request in order to facilitate compliance with NASD Rule 2711 or NYSE Member Rule 472 or any successor or similar rule or
regulation), and (ii) during the 90-day period following the effective date of a registration statement of the Company filed under the Act (or such longer period as the underwriters or the Company shall
request in order to facilitate compliance with NASD Rule 2711 or NYSE Member Rule 472 or any successor or similar rule or regulation); provided, that, with respect to (i) and (ii) above, all officers and directors of the Company are bound by
and have entered into similar agreements. Holder agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the managing underwriters that are consistent with the foregoing or that are necessary to give
further effect thereto. In addition, if requested by the Company or the representative of the underwriters of Common Stock (or other securities) of the Company, Holder shall provide, within ten (10) days of such request, such information as may
be required by the Company or such representative in connection with the completion of any public offering of the Company’s securities pursuant to a registration statement filed under the Act. The obligations described in this Section 8
shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that may be promulgated in the future, or a
registration relating solely to a transaction on Form S-4 or similar forms that may be promulgated in the future. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions
with respect to such Common Stock (or other securities) until the end of such period. Holder agrees that any transferee of any of the Common Stock (or other securities) of the Company held by Holder shall be bound by this Section 8. The
underwriters of the Company’s stock are intended third party beneficiaries of this Section 8 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. 

9.    No Stockholder Rights. This Warrant in and of itself shall not entitle the Holder to any voting rights
or other rights as a stockholder of the Company. 

  
 6 

 CONFIDENTIAL 

 10.    Transfer of Warrant. Subject to applicable laws and the
restriction on transfer set forth on the first page of this Warrant, this Warrant and all rights hereunder are transferable, by the Holder in person or by duly authorized attorney, upon delivery of this Warrant and the form of assignment attached
hereto to any transferee designated by Holder. The transferee shall sign an investment letter in form and substance satisfactory to the Company. 

11.    Lost, Stolen, Mutilated or Destroyed Warrant. If this Warrant is lost, stolen, mutilated or
destroyed, the Company may, on such terms as to indemnity or otherwise as it may 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 Company, whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable by anyone. 

12.    Waiver and Amendment. Any term of this Warrant may be amended or waived with the written consent of
the Company and Holder, as provided in the Note and Warrant Purchase Agreement. 
 13.    Notices, etc.
All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed telex, facsimile or electronic mail if sent during
normal business hours of the recipient, if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a
nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the Company at the address listed on the signature page and to Holder at 18313 Calle La Serra, Rancho
Santa Fe, California, 92091 or at such other address as the Company or Holder may designate by ten (10) days advance written notice to the other parties hereto. 

14.    Acceptance. Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to all
of the terms and conditions contained herein. 
 15.    Governing Law. This Warrant and all rights,
obligations and liabilities hereunder shall be governed by the laws of the State of California without giving effect to conflict of laws principles. 

16.    Counterparts. This Warrant may be executed in one or more counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same instrument. 
 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

  
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 CONFIDENTIAL 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its duly
authorized officer as of the date first written above. 
  

			
	TRILYPSA, INC.
		
	By:	 	/s/ Gerrit Klaerner
		 	Gerrit Klaerner
		 	Chief Executive Officer

 
			
		
	Address:	 	400 East Jamie Court, Suite 201
		 	South San Francisco, CA 94080

  

	
	 AGREED TO AND ACCEPTED:

	
	SIBLING CO-INVESTMENT LLC
	
	/s/ Sandra I. Coufal, M.D.
	 Signature

	
	Sandra I. Coufal, M.D.
	 Name (please print)

	
	Manager
	 Title (if applicable)

 Signature Page to Warrant 

 NOTICE OF EXERCISE 

TO: TRILYPSA, INC. 

(1)    ☐    The undersigned hereby elects to purchase
                     shares of the Series A Preferred Stock of TRILYPSA, INC. (the “Company”) pursuant to the terms of the
attached Warrant, and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any. 

         ☐    The undersigned hereby elects to purchase shares of the
Series A Preferred Stock of TRILYPSA, INC. (the “Company”) pursuant to the terms of the net exercise provisions set forth in Section 2.1 of the attached Warrant, and shall tender payment of all applicable transfer taxes, if
any. 
 (2)    Please issue a certificate or certificates representing said shares of Series A Preferred Stock in
the name of the undersigned or in such other name as is specified below: 
  

 
 (Name) 

 
  

 
  

(Address) 

(3)    The undersigned represents that (i) the aforesaid shares of Series A Preferred Stock 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; (ii) the
undersigned is aware of the Company’s business affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision regarding its investment in the Company; (iii) the
undersigned is experienced in making investments of this type and has such knowledge and background in financial and business matters that the undersigned is capable of evaluating the merits and risks of this investment and protecting the
undersigned’s own interests; (iv) the undersigned is an “accredited investor” as defined in Rule 501 under the Securities Act; (v) the undersigned understands that the shares of Series A Preferred Stock issuable upon
exercise of this Warrant have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), by reason of a specific exemption from the registration provisions of the Securities Act, which exemption depends upon,
among other things, the bona fide nature of the investment intent as expressed herein, and, because such securities have not been registered under the Securities Act, they must be held indefinitely unless subsequently registered under the Securities
Act or an exemption from such registration is available; (vi) the undersigned is aware that the aforesaid shares of Series A Preferred Stock may not be sold pursuant to Rule 144 adopted under the Securities Act unless certain conditions are met
and until the undersigned has held the shares for the number of years prescribed by Rule 144, that among the conditions for use of the Rule is the availability of current information to the public about the Company and the

 
Company has not made such information available and has no present plans to do so; and (vii) the undersigned agrees not to make any disposition of all or any part of the aforesaid shares of
Series A Preferred Stock unless and until there is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with said registration statement, or the undersigned
has provided the Company with an opinion of counsel satisfactory to the Company, stating that such registration is not required. 
  

					
	   
	 		 	   

	(Date)	 		 	(Signature)
			
	  
	 		 	   

		 		 	(Print name)

 ASSIGNMENT FORM 

(To assign the foregoing Warrant, execute this form and supply 

required information. Do not use this form to purchase shares.) 

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to 

 

			
	 Name:
	  	 
		  	(Please Print)

  

			
	 Address:
	  	 
		  	(Please Print)

 Dated:
                        , 20     

Holder’s 
 Signature:
                                         
                                         
           
 Holder’s 

Address:
                                         
                                         
             
 NOTE: The signature to this Assignment Form must correspond with the
name as it appears on the face of the Warrant, without alteration or enlargement or any change whatever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the
foregoing Warrant.EX-4.5

 Exhibit 4.5 

Execution Version 

THIS WARRANT, AND THE SECURITIES ISSUABLE UPON THE EXERCISE OF THIS WARRANT, HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”), OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL (WHICH MAY BE COMPANY COUNSEL)
REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT, OR ANY APPLICABLE STATE SECURITIES LAWS. 

WARRANT AGREEMENT 
 To Purchase
Shares of Common Stock of 
 Tricida, Inc. 

Dated as of February 28, 2018 (the “Effective Date”) 

WHEREAS, Tricida, Inc., a Delaware corporation, has entered into a Loan and Security Agreement of even date herewith (the “Loan Agreement”)
with Hercules Capital, Inc., a Maryland corporation, in its capacity as administrative and collateral agent, Hercules Capital, Inc. (the “Warrantholder”) and the other lender parties thereto; 

WHEREAS, the Company (as defined below) desires to grant to the Warrantholder, in consideration for, among other things, the financial accommodations provided
for in the Loan Agreement, the right to purchase shares of Common Stock (as defined below) pursuant to this Warrant Agreement (the “Agreement”); 

NOW, THEREFORE, in consideration of the Warrantholder executing and delivering the Loan Agreement and providing the financial accommodations contemplated
therein, and in consideration of the mutual covenants and agreements contained herein, the Company and the Warrantholder agree as follows: 
 SECTION
1. GRANT OF THE RIGHT TO PURCHASE COMMON STOCK. 
 For value received, the Company hereby grants to the Warrantholder, and the Warrantholder is entitled,
upon the terms and subject to the conditions hereinafter set forth, to subscribe for and purchase, from the Company, an aggregate number of fully paid and non-assessable shares of Common Stock equal to the
quotient derived by dividing (a) the Warrant Coverage (as defined below) by (b) the Exercise Price (as defined below). The Exercise Price of such shares are subject to adjustment as provided in Section 8. As used herein, the following
terms shall have the following meanings: 
 “Act” means the Securities Act of 1933, as amended. 

“Charter” means the Company’s Certificate of Incorporation, as may be amended from time to time. 

“Common Stock” means the Company’s common stock, $0.001 par value per share. 

“Company” means Tricida, Inc., a Delaware corporation. 

“Exercise Price” means the lesser of (a) if the Company achieves the IPO Milestone, the initial price to the public per
share of Common Stock specified in the final prospectus filed with the SEC with respect to the Company’s Initial Public Offering, or (b) the Series D Conversion Price. 

“Initial Public Offering” means the initial underwritten public offering of the Common Stock pursuant to a registration
statement under the Act, which registration statement has been declared effective by the Securities and Exchange Commission (“SEC”). 

“IPO Milestone” means receipt by the Company, prior to December 15, 2018, of at least One Hundred Million Dollars
($100,000,000.00) in aggregate proceeds (net of underwriting discounts and commissions) from an Initial Public Offering. 
  

  
 1 

 Execution Version 

 

 “Merger Event” means any sale, lease, exclusive license or other transfer of
all or substantially all assets of the Company or any merger or consolidation involving the Company in which the Company is not the surviving entity, or in which the outstanding shares of the Company’s capital stock are otherwise converted into
or exchanged for shares of common stock, preferred stock, other securities or property of another entity; other than any such consolidation, merger or reorganization in which the shares of capital stock of the Company immediately prior to such
consolidation, merger or reorganization, continue to represent a majority of the voting power of the surviving entity (or, if the surviving entity is a wholly owned subsidiary, its parent) immediately after such consolidation, merger or
reorganization (provided that, all shares of Common Stock issuable upon exercise of options or warrants outstanding immediately prior to such consolidation or merger or upon conversion of convertible securities outstanding immediately prior to such
merger or consolidation shall be deemed to be outstanding immediately prior to such merger or consolidation and, if applicable, converted or exchanged in such merger or consolidation on the same terms as the actual outstanding shares of capital
stock are converted or exchanged). 
 “Preferred Stock” means the Company’s Series D preferred stock, $0.001 par value
per share, as presently constituted, and, to the extent provided in Section 8(b), any other stock into or for which such Preferred Stock may be converted or exchanged. 

“Purchase Price” means, with respect to any exercise of this Agreement, an amount equal to the Exercise Price as of the
relevant time multiplied by the number of shares of Common Stock requested to be exercised under this Agreement pursuant to such exercise. 

“Series D Conversion Price” has the meaning set forth in the Charter. 

“Warrant Coverage” means Three Hundred Thousand Dollars ($300,000.00), plus, in the event all or part of Tranche 2,
Tranche 3, Tranche 4 and/or Tranche 5 (as defined in the Loan Agreement) are advanced pursuant to the Loan Agreement, 1.20% of such amount(s) advanced under Tranche 2, Tranche 3, Tranche 4 and/or Tranche 5, as applicable. 

SECTION 2. TERM OF THE AGREEMENT. 
 Except as otherwise
provided for herein, the term of this Agreement and the right to purchase Common Stock as granted herein (the “Warrant”) shall commence on the Effective Date and shall be exercisable for a period ending upon the earliest to occur of
(i) seven (7) years from the Effective Date; (ii) one (1) year after the Initial Public Offering; and (iii) immediately prior to the closing of a Merger Event (the “Exercise Period”). 

SECTION 3. EXERCISE OF THE PURCHASE RIGHTS. 

(a) Exercise. The purchase rights set forth in this Agreement are exercisable by the Warrantholder, in whole or in part, at any time, or
from time to time, prior to the expiration of the Exercise Period, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as Exhibit I (the “Notice of Exercise”), duly completed
and executed. Promptly upon receipt of the Notice of Exercise and the payment of the Purchase Price in accordance with the terms set forth below, and in no event later than five (5) days thereafter, the Company shall issue to the Warrantholder
a certificate for the number of shares of Common Stock purchased and shall execute the acknowledgment of exercise in the form attached hereto as Exhibit II (the “Acknowledgment of Exercise”) indicating the number of shares
which remain subject to future purchases under this Warrant, if any. 
 The Purchase Price may be paid at the Warrantholder’s election either
(i) by cash or check, or (ii) by surrender of all or a portion of the Warrant for shares of Common Stock to be exercised under this Agreement and, if applicable, an amended Agreement representing the remaining number of shares purchasable
hereunder, as determined below (“Net Issuance”). If the Warrantholder elects the Net Issuance method, the Company will issue shares of Common Stock in accordance with the following formula: 

X = Y(A-B) 

A 
  

					
	Where:	  	X =	  	the number of shares of Common Stock to be issued to the Warrantholder.
			
		  	Y =	  	the number of shares of Common Stock requested to be purchased under this Agreement.
			
		  	A =	  	the fair market value of one (1) share of Common Stock at the time of issuance of such shares of Common Stock.
			
		  	B =	  	the Exercise Price.

  
 2 

 Execution Version 

 

 For purposes of the above calculation, current fair market value of Common Stock shall mean with respect to
each share of Common Stock: 
 (i) if the exercise is in connection with an Initial Public Offering, and if the Company’s Registration
Statement relating to such Initial Public Offering has been declared effective by the SEC, then the fair market value per share shall be the initial “Price to Public” of the Common Stock specified in the final prospectus with respect to
the offering; 
 (ii) if the exercise is after, and not in connection with an Initial Public Offering, and: 

(A) if the Common Stock is traded on a securities exchange, the fair market value shall be deemed to be the average of the
closing prices over a five (5) trading day period ending three (3) days before the day the current fair market value of the securities is being determined; or 

(B) if the Common Stock is traded
over-the-counter, the fair market value shall be deemed to be the average of the closing bid and asked price quoted on the NASDAQ system (or similar system) over the
five (5) trading day period ended three (3) days before the day the current fair market value of the securities is being determined; 

(iii) if at any time the Common Stock is not listed on any securities exchange or quoted in the NASDAQ National Market or the over-the-counter market, the current fair market value of Common Stock shall be the highest price per share which the Company could reasonably expect to obtain from a willing
buyer (not a current employee or director) for shares of Common Stock sold by the Company, from authorized but unissued shares, as determined in good faith by its Board of Directors (provided that if the Company is then in possession of a recent
valuation of the Company’s Common Stock, the Board of Directors may rely on such valuation), unless the Notice of Exercise is delivered in connection with a Merger Event, in which case the fair market value of Common Stock shall be deemed to be
the per share value received by the holders of the Company’s Common Stock on a common equivalent basis pursuant to such Merger Event. 
 Upon partial
exercise by either cash or Net Issuance, the Company shall promptly issue an amended Agreement representing the remaining number of shares purchasable hereunder. All other terms and conditions of such amended Agreement shall be identical to those
contained herein, including, but not limited to the Effective Date hereof and Exercise Period. 
 (b) Exercise Prior to Expiration. To
the extent this Agreement is not previously exercised as to all shares of Common Stock subject hereto, and if the fair market value of one share of the Common Stock is greater than the Exercise Price then in effect, this Agreement shall be deemed
automatically exercised pursuant to Section 3(a) (even if not surrendered) as of the last day of the Exercise Period. For purposes of such automatic exercise, the fair market value of one share of the Common Stock upon such expiration shall be
determined pursuant to Section 3(a). To the extent this Agreement or any portion thereof is deemed automatically exercised pursuant to this Section 3(b), the Company agrees to promptly notify the Warrantholder of the number of shares of
Common Stock, if any, the Warrantholder is to receive by reason of such automatic exercise. 

  
 3 

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 SECTION 4. RESERVATION OF SHARES. 

During the term of this Agreement, the Company will at all times have authorized and reserved a sufficient number of shares of its Common Stock to provide for
the exercise of the rights to purchase Common Stock as provided for herein. 
 SECTION 5. NO FRACTIONAL SHARES OR SCRIP. 

No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Agreement, but in lieu of such fractional shares, the
Company shall make a cash payment therefor equal to such fraction multiplied by the then fair market value of one share of Common Stock. 
 SECTION
6. NO RIGHTS AS STOCKHOLDER. 
 This Agreement does not entitle the Warrantholder to any voting rights or other rights as a stockholder of the Company
prior to the exercise of this Agreement. 
 SECTION 7. WARRANTHOLDER REGISTRY. 

The Company shall maintain a registry showing the name and address of the registered holder of this Agreement. The Warrantholder’s initial address, for
purposes of such registry, is set forth below the Warrantholder’s signature on this Agreement. The Warrantholder may change such address by giving written notice of such changed address to the Company. 

SECTION 8. ADJUSTMENT RIGHTS. 
 The Exercise Price and the
number of shares of Common Stock purchasable hereunder are subject to adjustment, as follows: 
 (a) Merger Event. If at any time
there shall be a Merger Event, then, as a part of such Merger Event, lawful provision shall be made so that the Warrantholder shall be entitled to receive, concurrently with the closing of such Merger Event, the number of shares of Common Stock or
other securities or property, if any, (collectively, “Reference Property”) that the Warrantholder would have received in connection with such Merger Event if Warrantholder had exercised this Agreement immediately prior to the Merger
Event pursuant to the Net Issuance provisions of this Warrant Agreement without actually exercising such right. 
 (b) Reclassification of
Shares. Except for Merger Events subject to Section 8(a), if the Company at any time shall, by combination, reclassification, exchange or subdivision of securities or otherwise, change any of the securities as to which purchase rights under
this Agreement exist into the same or a different number of securities of any other class or classes, this Agreement shall thereafter represent the right to acquire such number and kind of securities as would have been issuable as the result of such
change with respect to the securities which were subject to the purchase rights under this Agreement immediately prior to such combination, reclassification, exchange, subdivision or other change. The provisions of this Section 8(b) shall
similarly apply to any successive combination, reclassification, exchange, subdivision or other change. 
 (c) Subdivision or Combination
of Shares. If the Company at any time shall combine or subdivide its Common Stock, (i) in the case of a subdivision, the Exercise Price shall be proportionately decreased and the number of shares of Common Stock issuable hereunder shall be
proportionately increased, or (ii) in the case of a combination, the Exercise Price shall be proportionately increased and the number of shares of Common Stock issuable hereunder shall be proportionately decreased. 

(d) Dividends. If the Company at any time prior to the Initial Public Offering and while this Agreement is outstanding and unexpired
shall: 

  
 4 

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 (i) pay a dividend with respect to the Common Stock payable in Common Stock, then the
Exercise Price shall be adjusted, from and after the date of determination of the stockholders entitled to receive such dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately prior to such date of
determination by a fraction (A) the numerator of which shall be the total number of shares of Common Stock outstanding immediately prior to such dividend or distribution, and (B) the denominator of which shall be the total number of shares
of Common Stock outstanding immediately after such dividend or distribution; or 
 (ii) make any other dividend or distribution with respect
to Common Stock, except any dividend or distribution specifically provided for in any other clause of this Section 8, then, in each such case, provision shall be made by the Company such that the Warrantholder shall receive upon exercise or
conversion of this Warrant a proportionate share of any such dividend or distribution as though it were the holder of the Common Stock as of the record date fixed for the determination of the stockholders of the Company entitled to receive such
dividend or distribution. 
 (e) [Intentionally omitted]. 

(f) Notice of Adjustments. If prior to Initial Public Offering: (i) the Company shall declare any dividend or distribution upon its
stock, whether in stock, cash, property or other securities; (ii) there shall be any Merger Event; or (iii) there shall be any voluntary dissolution, liquidation or winding up of the Company; then, in connection with each such event, the
Company shall send to the Warrantholder: (A) at least fifteen (15) days’ prior written notice of the date on which the books of the Company shall close or a record shall be taken for such dividend, distribution, subscription rights
(specifying the date on which the holders of Common Stock shall be entitled thereto) or for determining rights to vote in respect of such Merger Event, dissolution, liquidation or winding up; and (B) in the case of any such Merger Event,
dissolution, liquidation or winding up, at least fifteen (15) days’ prior written notice of the date when the same shall take place (and specifying the date on which the holders of Common Stock shall be entitled to exchange their Common
Stock for securities or other property deliverable upon such Merger Event, dissolution, liquidation or winding up). 
 Each such written notice shall be
given in accordance with Section 12(g) below and shall set forth, in reasonable detail, (i) the event requiring the notice, and (ii) if any adjustment is required to be made pursuant to this Section 8, (A) the amount of such
adjustment, (B) the method by which such adjustment was calculated, (C) the adjusted Exercise Price (if the Exercise Price has been adjusted), and (D) the number of shares subject to purchase hereunder after giving effect to such
adjustment. 
 (g) Timely Notice. Notwithstanding the failure to timely provide any such notice required by Section 8(f) above,
the Warrantholder shall retain the benefit of the applicable notice period notwithstanding anything to the contrary contained in any insufficient notice received by the Warrantholder. 

SECTION 9. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY. 

(a) Reservation of Common Stock. The Common Stock issuable upon exercise of this Agreement has been duly and validly reserved and, when
issued in accordance with the provisions of this Agreement, will be validly issued, fully paid and non-assessable, and will be free of any taxes, liens, charges or encumbrances created by the Company;
provided, that the Common Stock issuable pursuant to this Agreement may be subject to restrictions on transfer under state and/or federal securities laws. The Company has made available to the Warrantholder true, correct and complete copies
of its Charter and current bylaws as of the Effective Date. The issuance of certificates for shares of Common Stock upon exercise of this Agreement shall be made without charge to the Warrantholder for any issuance tax in respect thereof, or other
cost incurred by the Company in connection with such exercise and the related issuance of shares of Common Stock; provided, that the Company shall not be required to pay any tax which may be payable in respect of any transfer and the issuance
and delivery of any certificate in a name other than that of the Warrantholder. 

  
 5 

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 (b) Due Authority. The execution and delivery by the Company of this Agreement and the
performance of all obligations of the Company hereunder, including the issuance to the Warrantholder of the right to acquire the shares of Common Stock, have been duly authorized by all necessary corporate action on the part of the Company. This
Agreement: (i) does not violate the Charter or the Company’s current bylaws; (ii) does not contravene any law or governmental rule, regulation or order applicable to the Company; and (iii) does not contravene any provision of, or
constitute a default under, any indenture, mortgage, contract or other instrument to which the Company is a party or by which it is bound. This Agreement constitutes a legal, valid and binding agreement of the Company, enforceable in accordance with
its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors’ rights and (b) as limited by general principles of equity that
restrict the availability of equitable remedies. 
 (c) Consents and Approvals. No consent or approval of, giving of notice to,
registration with, or taking of any other action in respect of any state, federal or other governmental authority or agency is required with respect to the execution, delivery and performance by the Company of its obligations under this Agreement,
except for the filing of notices pursuant to Regulation D under the Act and any filing required by applicable state securities law, which filings will be effective by the time required thereby. 

(d) Issued Securities. All issued and outstanding shares of Common Stock, preferred stock or any other securities of the Company have
been duly authorized and validly issued and are fully paid and nonassessable. All outstanding shares of Common Stock, preferred stock and any other securities were issued in full compliance with all federal and state securities laws. In addition, as
of the date immediately preceding the date of this Agreement: 
 (i) The authorized capital of the Company consists of (A)
134,000,000 shares of Common Stock, of which 9,152,544 shares are issued and outstanding; (B) 11,398,694 shares of Series A preferred stock, $0.001 par value per share, of which 11,302,758 shares are issued and outstanding and are convertible into
an aggregate of 11,302,758 shares of Common Stock at $0.886 per share; (C) 32,526,878 shares of Series B preferred stock, $0.001 par value per share, of which 32,526,878 shares are issued and outstanding and are convertible into an aggregate of
32,526,878 shares of Common Stock at $0.93 per share; (D) 35,806,451 shares of Series C preferred stock, $0.001 par value per share, of which 35,806,451 shares are issued and outstanding and are convertible into an aggregate of 35,806,451 shares of
Common Stock at $1.55 per share; and (E) 24,500,000 shares of Series D preferred stock, $0.001 par value per share, of which 24,493,615 shares are issued and outstanding and are convertible into an aggregate of 24,493,615 shares of Common Stock at
$2.35 per share. 
 (ii) The Company issued a warrant dated August 9, 2013 exercisable for 95,936 shares of Series A
preferred stock. 
 (iii) The Company has reserved 18,040,000 shares of Common Stock for issuance under its stock option
plan(s), under which options to purchase 14,115,728 shares of Common Stock are outstanding. Except as noted in clause (i) above, there are no other options, warrants, or other rights presently outstanding to purchase or otherwise acquire any
authorized but unissued shares of the Company’s capital stock of the Company. 
 (iv) No stockholder of the Company has
preemptive rights to purchase new issuances of the Company’s capital stock, other than pursuant to the Investor Rights Agreement (as defined below) and the Loan Agreement. 

(e) Registration Rights. The Company agrees that the shares of Common Stock issued upon exercise of this Warrant shall have the
“Piggyback” and S-3 registration rights pursuant to and as set forth in the Company’s Amended and Restated Investor Rights Agreement, dated November 7, 2017, as amended from time to time
(the “Investor Rights Agreement”) on a pari passu basis with the holders of outstanding shares of Preferred Stock who are parties thereto. The provisions set forth in the Company’s Investor Rights Agreement or similar
agreement relating to such registration rights in effect as of the Effective Date may not be amended, modified or waived without the prior written consent of the 

  
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Warrantholder unless such amendment, modification or waiver affects the rights associated with the shares of Common Stock issued and issuable upon exercise hereof in the same manner as such
amendment, modification or waiver affects the rights associated with the shares of Common Stock issuable upon conversion of all outstanding shares of Preferred Stock whose holders are parties thereto. 

(f) Other Commitments to Register Securities. Except as set forth in this Agreement or the Investor Rights Agreement, the Company is
not, pursuant to the terms of any other agreement currently in existence, under any obligation to register under the Act any of its presently outstanding securities or any of its securities which may hereafter be issued. 

(g) Exempt Transaction. Subject to the accuracy of the Warrantholder’s representations in Section 10, the issuance of the
Common Stock upon exercise of this Agreement will constitute a transaction exempt from (i) the registration requirements of Section 5 of the Act, in reliance upon Section 4(2) thereof, and (ii) the qualification requirements of
the applicable state securities laws. 
 (h) Compliance with Rule 144. If the Warrantholder proposes to sell Common Stock issuable
upon the exercise of this Agreement in compliance with Rule 144 promulgated by the SEC, then, upon the Warrantholder’s written request to the Company, the Company shall furnish to the Warrantholder, within ten days after receipt of such
request, a written statement confirming the status of the Company’s compliance with the filing requirements of the SEC as set forth in such Rule, as such Rule may be amended from time to time. 

(i) Information Rights. During the term of this Warrant, and only if the Initial Public Offering has not occurred, the Warrantholder
will receive the Company’s audited financial statements in the manner and within the time period provided for with respect to the Major Investors (as defined in the Investor Rights Agreement) pursuant to Section 3.1(b) of the Investor
Rights Agreement; provided, however, that any waiver of such information rights by the Major Investors pursuant to the Investor Rights Agreement shall not act as a waiver of the Warrantholder’s information rights provided for
under this Section 9(i). 
 SECTION 10. REPRESENTATIONS AND COVENANTS OF THE WARRANTHOLDER. 

This Agreement has been entered into by the Company in reliance upon the following representations and covenants of the Warrantholder: 

(a) Investment Purpose. The right to acquire Common Stock is being acquired for investment and not with a view to the sale or
distribution of any part thereof, and the Warrantholder has no present intention of selling or engaging in any public distribution of such rights or the Common Stock except pursuant to an effective registration statement or an exemption from the
registration requirements of the Act. 
 (b) Private Issue. The Warrantholder understands (i) that the Common Stock issuable upon
exercise of this Agreement is not registered under the Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this Agreement will be exempt from the registration and qualifications requirements
thereof, and (ii) that the Company’s reliance on such exemption is predicated on the representations set forth in this Section 10. 

(c) Financial Risk. The Warrantholder has such knowledge and experience in financial and business matters as to be capable of evaluating
the merits and risks of its investment, and has the ability to bear the economic risks of its investment. 
 (d) Risk of No
Registration. The Warrantholder understands that if the Company does not register with the SEC pursuant to Section 12 of the Securities Exchange Act of 1934 (the “1934 Act”), or file reports pursuant to Section 15(d)
of the 1934 Act, or if a registration statement covering the securities under the Act is not in effect when it desires to sell (i) the rights to purchase Common Stock pursuant to this Agreement or (ii) the Common Stock issuable upon
exercise of the right to purchase, it may be required to hold such securities for an indefinite period. The Warrantholder also understands that any sale of (A) its rights hereunder to purchase Common Stock or (B) Common Stock issued or
issuable hereunder which might be made by it in reliance upon Rule 144 under the Act may be made only in accordance with the terms and conditions of that Rule. 

  
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 (e) Accredited Investor. The Warrantholder is an “accredited investor”
within the meaning of the Securities and Exchange Rule 501 of Regulation D, as presently in effect. 
 (f) For purposes of the rights
contemplated by Section 9(e) of this Agreement, upon exercise of the Warrant, the Warrantholder hereby agrees to be bound by and subject to the terms and provisions of the Investor Rights Agreement as if the Warrantholder was an
“Investor” (as defined in the Investor Rights Agreement) party thereto. 
 (g) Upon exercise of the Warrant, the Warrantholder
hereby agrees to be bound by and subject to the terms and provisions of Section 1.8, Section 2 and Section 3 of the Company’s Amended and Restated Voting Agreement, dated November 7, 2017, as amended from time to time (the
“Voting Agreement”), as if the Warrantholder were a “Stockholder” (as defined in the Voting Agreement) party thereto. 
 SECTION
11. TRANSFERS. 
 Subject to compliance with applicable federal and state securities laws, this Agreement and all rights hereunder are transferable, in
whole or in part, without charge to the holder hereof (except for transfer taxes) upon surrender of this Agreement properly endorsed; provided, however, that if there is not then any ongoing Event of Default (as defined in the Loan
Agreement), then such transfer shall be subject to the prior written consent of the Company; provided further, that notwithstanding the foregoing, any such transfer to an Affiliate (as defined in the Loan Agreement) of the Warrantholder shall
be allowed at any time without the prior written consent of the Company. Each taker and holder of this Agreement, by taking or holding the same, consents and agrees that this Agreement, when endorsed in blank, shall be deemed negotiable, and that
the holder hereof, when this Agreement shall have been so endorsed and its transfer recorded on the Company’s books, shall be treated by the Company and all other persons dealing with this Agreement as the absolute owner hereof for any purpose
and as the person entitled to exercise the rights represented by this Agreement. The transfer of this Agreement shall be recorded on the books of the Company upon receipt by the Company of a notice of transfer in the form attached hereto as Exhibit
III (the “Transfer Notice”), at its principal offices and the payment to the Company of all transfer taxes and other governmental charges imposed on such transfer. Until the Company receives such Transfer Notice, the Company may
treat the registered owner hereof as the owner for all purposes. The Warrantholder may not transfer this Warrant to a competitor of the Company, as reasonably determined by the Board of Directors. 

SECTION 12. MISCELLANEOUS. 
 (a)
Effective Date. The provisions of this Agreement shall be construed and shall be given effect in all respects as if it had been executed and delivered by the Company on the date hereof. This Agreement shall be binding upon any successors or
assigns of the Company. 
 (b) Remedies. In the event of any default hereunder, the
non-defaulting party may proceed to protect and enforce 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 default, and/or
an action for specific performance for any default where the Warrantholder will not have an adequate remedy at law and where damages will not be readily ascertainable. The Company expressly agrees that it shall not oppose an application by the
Warrantholder or any other person entitled to the benefit of this Agreement requiring specific performance of any or all provisions hereof or enjoining the Company from continuing to commit any such breach of this Agreement. 

(c) 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 Agreement, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate in order to protect the rights
of the Warrantholder against impairment. 

  
 8 

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 (d) Additional Documents. The Company, upon execution of this Agreement, shall provide
the Warrantholder with a certified copy of resolutions of the Company’s board of directors evidencing approval of this Agreement and the reservation of the shares of Common Stock issuable upon exercise of the Warrant. Prior to the Initial
Public Offering, the Company shall also supply documentation reasonably requested by the Warrantholder to evaluate whether to exercise this Warrant, including without limitation, (i) any merger/purchase/asset sale agreement and related
documents and estimated payout allocations to each of the respective stockholders, warrant and option holders in connection with a Merger Event, (ii) the most recent capitalization tables, 409A valuations (if any), and board determination of
share value (including any waterfall or per share allocations provided to the stockholders), and (iii) most recent Charter. 
 (e)
Attorney’s Fees. In any litigation, arbitration or court proceeding between the Company and the Warrantholder relating hereto, the prevailing party shall be entitled to attorneys’ fees and expenses and all costs of proceedings
incurred in enforcing this Agreement. For the purposes of this Section 12(e), attorneys’ fees shall include without limitation fees incurred in connection with the following: (i) contempt proceedings; (ii) discovery; (iii) any
motion, proceeding or other activity of any kind in connection with an insolvency proceeding; (iv) garnishment, levy, and debtor and third party examinations; and (v) post-judgment motions and proceedings of any kind, including without
limitation any activity taken to collect or enforce any judgment. 
 (f) Severability. In the event any one or more of the provisions
of this Agreement shall for any reason be held invalid, illegal or unenforceable, the remaining provisions of this Agreement shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually acceptable valid,
legal and enforceable provision, which comes closest to the intention of the parties underlying the invalid, illegal or unenforceable provision. 

(g) Notices. Except as otherwise provided herein, any notice, demand, request, consent, approval, declaration, service of process or
other communication that is required, contemplated, or permitted under this Agreement or with respect to the subject matter hereof shall be in writing, and shall be deemed to have been validly served, given, delivered, and received upon the earlier
of: (i) the day of transmission by electronic mail or hand delivery if transmission or delivery occurs on a business day at or before 5:00 pm in the time zone of the recipient, or, if transmission or delivery occurs on a non-business day or after such time, the first business day thereafter, or the first business day after deposit with an overnight express service or overnight mail delivery service; or (ii) the third (3rd) calendar day after deposit in the United States mails, with proper first class postage prepaid, and shall be addressed to the party to be notified as follows: 

If to the Warrantholder: 
 HERCULES CAPITAL, INC.

 Legal Department 
 Attention:
Chief Legal Officer and Himani Bhalla 
 400 Hamilton Avenue, Suite 310 

Palo Alto, CA 94301 
 Telephone: 650-289-3060 
 with a copy to (which shall not constitute notice): 

LATHAM & WATKINS LLP 

Attention: Haim Zaltzman 
 140
Scott Drive 
 Menlo Park, CA 94025 

Telephone: 650-328-4600 

  
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 If to the Company: 

TRICIDA, INC. 
 Attention: Legal
Department 
 7000 Shoreline Court, Suite 201 

South San Francisco, CA 94080 

Telephone: (415) 988-2420 

with a copy to (which shall not constitute notice): 

SIDLEY AUSTIN LLP 
 Attention:
Geoffrey W. Levin 
 787 Seventh Avenue 

New York, NY 10019 
 Telephone: 212-839-5776 
 or to such other address as each party may designate for itself by
like notice. 
 (h) Entire Agreement; Amendments. This Agreement constitutes the entire agreement and understanding of the parties
hereto in respect of the subject matter hereof, and supersedes and replaces in their entirety any prior proposals, term sheets, letters, negotiations or other documents or agreements, whether written or oral, with respect to the subject matter
hereof (including the Warrantholder’s proposal letter dated January 19, 2018). None of the terms of this Agreement may be amended except by an instrument executed by each of the parties hereto. 

(i) Headings. The various headings in this Agreement are inserted for convenience only and shall not affect the meaning or
interpretation of this Agreement or any provisions hereof. 
 (j) No Strict Construction. The parties hereto have participated jointly
in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall
arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement. 
 (k) No Waiver. No omission
or delay by the Warrantholder at any time to enforce any right or remedy reserved to it, or to require performance of any of the terms, covenants or provisions hereof by the Company at any time designated, shall be a waiver of any such right or
remedy to which the Warrantholder is entitled, nor shall it in any way affect the right of the Warrantholder to enforce such provisions thereafter. 

(l) Survival. All agreements, representations and warranties contained in this Agreement or in any document delivered pursuant hereto
shall be for the benefit of the Warrantholder or Company, as applicable, and shall survive the execution and delivery of this Agreement and the expiration or other termination of this Agreement. 

(m) Governing Law. This Agreement has been negotiated and delivered to Warrantholder in the State of California, and shall have been
accepted by the Warrantholder in the State of California. Delivery of Common Stock to the Warrantholder by the Company under this Agreement is due in the State of California. This Agreement shall be governed by, and construed and enforced in
accordance with, the laws of the State of California, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction. 

  
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 (n) Consent to Jurisdiction and Venue. All judicial proceedings arising in or under or
related to this Agreement may be brought in any state or federal court of competent jurisdiction located in the State of California. By execution and delivery of this Agreement, each party hereto generally and unconditionally: (a) consents to
nonexclusive personal jurisdiction in San Mateo County, State of California; (b) waives any objection as to jurisdiction or venue in San Mateo County, State of California; (c) agrees not to assert any defense based on lack of jurisdiction
or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement or the other Loan Documents. Service of process on any party hereto in any action arising out of or
relating to this Agreement shall be effective if given in accordance with the requirements for notice set forth in Section 12(g), and shall be deemed effective and received as set forth in Section 12(g). Nothing herein shall affect the
right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other jurisdiction. 

(o) Mutual Waiver of Jury Trial/ Judicial Reference. 

(i) Because disputes arising in connection with complex financial transactions are most quickly and economically resolved by an experienced
and expert Person and the parties wish applicable state and federal laws to apply (rather than arbitration rules), the parties desire that their disputes be resolved by a judge applying such applicable laws. EACH OF THE COMPANY AND THE WARRANTHOLDER
SPECIFICALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY THE COMPANY AGAINST THE WARRANTHOLDER OR
ITS ASSIGNEE OR BY THE WARRANTHOLDER OR ITS ASSIGNEE AGAINST THE COMPANY. This waiver extends to all such Claims, including Claims that involve Persons other than Company and Warrantholder; Claims that arise out of or are in any way connected to the
relationship between the Company and the Warrantholder; and any Claims for damages, breach of contract, tort, specific performance, or any equitable or legal relief of any kind, arising out of this Agreement. 

(ii) If the waiver of jury trial set forth in Section 12(o)(i) above is ineffective or unenforceable, the parties agree that all Claims
shall be resolved by reference to a private judge sitting without a jury, pursuant to California Code of Civil Procedure Section 638, before a mutually acceptable referee or, if the parties cannot agree, a referee selected by the Presiding
Judge of San Mateo County, California. Such proceeding shall be conducted in San Mateo County, California, with California rules of evidence and discovery applicable to such proceeding. 

(iii) In the event Claims are to be resolved by judicial reference, either party may seek from a court of competent jurisdiction identified in
Section 12(n), any prejudgment order, writ or other relief and have such prejudgment order, writ or other relief enforced to the fullest extent permitted by law notwithstanding that all Claims are otherwise subject to resolution by judicial
reference. 
 (p) Counterparts. This Agreement and any amendments, waivers, consents or supplements hereto may be executed in any
number of counterparts, and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall constitute but one and the same instrument. 

[Remainder of Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by its officers thereunto
duly authorized as of the Effective Date. 
  

					
	COMPANY:	 	TRICIDA, INC.
			
		 	By:	  	 /s/ Geoffrey Parker

		 	Name:	  	Geoffrey Parker
		 	Title:	  	Chief Financial Officer
		
	WARRANTHOLDER:	 	HERCULES CAPITAL, INC.
			
		 	By:	  	 /s/ Zhuo Huang

		 	Name:	  	Zhou Huang
		 	Title:	  	Associate General Counsel

  
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 EXHIBIT I 

NOTICE OF EXERCISE 
 To: Tricida, Inc. 

 

	(1)	The undersigned Warrantholder hereby elects to purchase [                    ] shares of the Common Stock of Tricida,
Inc., pursuant to the terms of the Warrant Agreement dated the 28th day of February, 2018 (the “Agreement”) between Tricida, Inc. and the Warrantholder, and [CASH PAYMENT: tenders herewith payment of the Purchase Price in full,
together with all applicable transfer taxes, if any.] [NET ISSUANCE: elects pursuant to Section 3(a) of the Agreement to effect a Net Issuance.] 

  

	(2)	Please issue a certificate or certificates representing said shares of Common Stock in the name of the undersigned or in such other name as is specified below. 

 

			
		  	  
 (Name)

		
		  	  
 (Address)

		
	WARRANTHOLDER:	  	HERCULES CAPITAL, INC.
		
		  	By:                                     
                                    
		  	Name:                                     
                                    
		  	Title:                                     
                                    
		  	Date:                                     
                                    

  
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 EXHIBIT II 

ACKNOWLEDGMENT OF EXERCISE 
 The undersigned
Tricida, Inc., hereby acknowledge receipt of the “Notice of Exercise” from Hercules Capital, Inc., to purchase [            ] shares of the Common Stock of Tricida, Inc., pursuant
to the terms of the Warrant Agreement by and between Tricida, Inc. and Hercules Capital, Inc., dated February 28, 2018 (the “Agreement”), and further acknowledges that
[                ] shares of Common Stock remain subject to purchase under the terms of the Agreement. 

 

			
	 COMPANY:
	  	Tricida, Inc.
		
		  	By:                                     
                                    
		  	Title:                                     
                                    
		  	Date:                                     
                                    

  
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 EXHIBIT III 

TRANSFER NOTICE 
 (To transfer or assign the
foregoing Agreement execute this form and supply required information. Do not use this form to purchase shares.) 
 FOR VALUE RECEIVED, the foregoing
Agreement and all rights evidenced thereby are hereby transferred and assigned to 
  

	
	  
 (Please Print)

	whose address is                                  
                  
	  

 

	
	Dated:                                     
                                         
            
	Holder’s
Signature:                                       
                          
	Holder’s
Address:                                       
                             
	  

 Signature
Guaranteed:                                       
                                         
   
 NOTE: The signature to this Transfer Notice must correspond with the name as it appears on the face of the Agreement, without
alteration or enlargement or any change whatever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Agreement. 

  
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