Document:

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EXHIBIT 4.2

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT

          THIS AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Agreement”) is made and
entered into as of                      ___, 2010, by and among REVA Medical, Inc., a Delaware corporation
(the “Company”), and each of the individuals or entities whose names are set forth on
Schedule A hereto (each, an “Investor” and collectively, the “Investors”).

RECITALS:

          WHEREAS, the Company (through its predecessor in interest) and the Investors have previously
entered into an Amended and Restated Investors’ Rights Agreement dated as of December 7, 2007 (the
“Prior Agreement”), pursuant to which such holders are currently entitled to certain
investor rights and bound by certain covenants and restrictions.

          WHEREAS, the Company and the Investors desire to enter into this Agreement in order to amend,
restate and replace their rights and obligations under the Prior Agreement with the rights and
obligations set forth in this Agreement, effective upon a Qualified Initial Public Offering (as
defined below).

          WHEREAS, pursuant to the terms of a certain Securities Purchase Agreement dated December 7,
2007, by and among the Company and the Investors (as amended, restated, supplemented or otherwise
modified from time to time, the “Purchase Agreement”), the Company issued to the Investors
(i) shares (the “Series H Preferred Shares”) of a newly created series of the Company’s
preferred stock designated as “Series H Convertible Preferred Stock” (the “Series H Preferred
Stock”), and (ii) warrants (the “Warrants”), to acquire up to that number of additional
shares of Common Stock equal to 20% of the number of shares of Common Stock initially issuable upon
conversion of the Series H Preferred Shares issued to each such Investor (the shares of Common
Stock issuable upon exercise of or otherwise pursuant to the Warrants, collectively, the
“Warrant Shares”).

          WHEREAS, the Prior Agreement may be amended by agreement of the Company, the Requisite
Investors (as defined below), and Holders (as defined below) holding at least a majority of the
issued and outstanding Common Stock (on an as-converted basis) then held by all Holders.

          WHEREAS, the Company has executed this Agreement, and the Investors who are signatories to
this Agreement hold at least that number of shares necessary to amend and restate the Prior
Agreement.

          NOW, THEREFORE, in consideration of the foregoing and the mutual promises and covenants set
forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and the Investors hereby agree that, effective upon a
Qualified Initial Public Offering (as defined below), the Prior Agreement is superseded and
replaced in its entirety by this Agreement, including with respect to those Investors who are not
signatories to this Agreement, and the parties hereto further agree as follows:

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Article I Definitions.

          1.1 General Definitions. All capitalized terms not otherwise defined in this
Agreement shall have the meanings ascribed thereto in the Purchase Agreement. As used in this
Agreement, unless the context otherwise requires, the following terms shall have the respective
meanings set forth below:

          “Affiliate” means, with respect to any Person, any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with such specified Person.
For the purposes of this definition, “control,” when used with respect to any Person, means the
power to direct the management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms “affiliated,”
“controlling” and “controlled” have meanings correlative to the foregoing.

          “Agreement” shall have the meaning ascribed to it in the preamble to this Agreement.

          “Availability Date” shall have the meaning ascribed to it in Section 2.4(m).

          “Board” means the Board of Directors of the Company.

          “Certificate of Incorporation” means the Amended and Restated Certificate of
Incorporation of the Company which sets forth the rights, preferences and privileges of the
Preferred Stock.

          “Commission” means the U.S. Securities and Exchange Commission or any other federal
agency then administering the Securities Act and other federal securities laws.

          “Common Stock
” means the Common Stock of the Company, par value $0.0001
per share.

          “Company” shall have the meaning ascribed to it in the preamble to this Agreement.

          “Demand Registration” shall have the meaning ascribed to it in Section 2.1(a).

          “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor
federal statute, and the rules and regulations of the Commission issued under such Act, as they
each may, from time to time, be in effect.

          “Holders” means any holders of Registrable Securities.

          “Indemnified Person” shall have the meaning ascribed to it in Section 2.7(c).

          “Indemnifying Party” shall have the meaning ascribed to it in Section 2.7(c).

          “Initial Public Offering” means the first underwritten public offering of the Common
Stock by the Company pursuant to an effective Registration Statement.

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          “Initiating Holders” shall have the meaning ascribed to it in Section 2.1(a).

          “Investor(s)” shall have the meaning ascribed to it in the preamble to this Agreement.

          “Lead Investor” shall mean, collectively, Cerberus Partners, L.P., Cerberus
International, Ltd., Cerberus Series Four Holdings, LLC, Cerberus America Series Two Holdings, LLC
and Gabriel Assets, LLC.

          “Losses” shall have the meaning ascribed to it in Section 2.7(a).

          “Major Investor” means each of the Investors holding a minimum of 500,000 shares of
Registrable Securities.

          “Other Stockholders” shall have the meaning ascribed to it in Section 2.1(d).

          “Piggy-Back Notice” shall have the meaning ascribed to it in Section 2.2(a).

          “Preferred Stock” means the Prior Preferred Stock and the Series H Preferred Stock.

          “Prior Agreement” shall have the meaning ascribed to it in the recitals to this
Agreement.

          “Prior Preferred Stock” means the Company’s Series A Preferred Stock, Series B
Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock,
Series F Preferred Stock, Series G-1 Preferred Stock, and Series G-2 Preferred Stock.

          “Prospectus” shall mean the prospectus included in any Registration Statement, as
amended or supplemented by any prospectus supplement, with respect to the terms of the offering of
any portion of the Registrable Securities covered by such Registration Statement and by all other
amendments and supplements to the prospectus, including post-effective amendments and all material
incorporated by reference in such prospectus.

          “Purchase Agreement” shall have the meaning ascribed to it in the recitals to this
Agreement.

          “Qualified Initial Public Offering” means any initial public offering of securities by
the Company pursuant to an effective Registration Statement covering the sale of such securities,
pursuant to which the Company shall actually receive aggregate net cash proceeds (not subject to
any contingencies) equal to no less than $50,000,000.

          “Register,” “registered” and “registration” refer to a registration
made by preparing and filing a Registration Statement or similar document in compliance with the
Securities Act, and the declaration or ordering of effectiveness of such Registration Statement or
document.

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          “Registrable Securities” means: (i) the shares of Preferred Stock; (ii) any and all
shares of Common Stock issued or issuable in respect of the Preferred Stock upon any stock split,
reverse stock split, stock dividend, recapitalization, reorganization, merger, consolidation, sale
of assets or similar event; (iii) the shares of Common Stock issuable as payment-in-kind dividends
on the Series H Preferred Stock in accordance with the terms of the Certificate of Incorporation;
(iv) the Warrant Shares; and (v) any other shares of Common Stock acquired by the Investors at any
time. Notwithstanding the foregoing, the term “Registrable Securities” shall not include any
shares which have been (i) sold to or through a broker or dealer or underwriter in a public
distribution or a public securities transaction, (ii) sold in a transaction exempt from the
registration and prospectus delivery requirements of the Securities Act under Section 4(1) thereof
so that all transfer restrictions and restrictive legends with respect thereto are removed upon the
consummation of such sale, (iii) registered under the Securities Act pursuant to an effective
Registration Statement filed thereunder or (iv) publicly sold pursuant to Rule 144 under the
Securities Act.

          “Registration Statement” means a Registration Statement filed by the Company with the
Commission for a public offering and sale of securities of the Company (other than a Registration
Statement on Form S-8 or Form S-4, or their successors, or any other form for a similar limited
purpose, or any Registration Statement covering only securities proposed to be issued in exchange
for securities or assets of another corporation).

          “Requisite Investors” means the Lead Investor (so long as the Lead Investor holds, in
the aggregate, at least 50% of the shares of Common Stock issued and/or issuable upon conversion of
the Series H Preferred Shares it acquires pursuant to the Purchase Agreement) and a majority of the
Investors (excluding, for purposes of calculating such majority, the Lead Investor, so long as the
Lead Investor holds, in the aggregate, at least 50% of the shares of Common Stock issued and/or
issuable upon conversion of the Series H Preferred Shares it
acquired pursuant to the Purchase
Agreement).

          “Securities Act” means the Securities Act of 1933, as amended, or any successor
federal statute, and the rules and regulations of the Commission issued under such Act, as they
each may, from time to time, be in effect.

          “Series H Preferred Shares” shall have the meaning ascribed to it in the recitals to
this Agreement.

          “Series H Preferred Stock” shall have the meaning ascribed to it in the recitals to
this Agreement.

          “Warrants” shall have the meaning ascribed to it in the recitals to this Agreement.

          “Warrant Shares” shall have the meaning ascribed to it in the recitals to this
Agreement.

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Article II  Registration Rights; Restrictions on Transfer.

          2.1 Demand Registration.

               (a) At any time after the closing of an Initial Public Offering (but not within six (6) months
of the effective date of a Registration Statement of the Company) or the seventh (7th)
anniversary of the Closing, whichever occurs first, the Requisite Investors may require that the
Company register for sale under the Securities Act all or any portion of the Registrable Securities
held by such Investors (the “Initiating Holders”) for sale in the manner specified in such
notice; provided, that (i) the portion of the Registrable Securities required to be so
registered equals at least 100% of the shares of Common Stock issuable upon conversion of the
shares of Series H Preferred Stock then outstanding or (ii) such offering is expected to exceed
$10,000,000 in the aggregate, counting all other securities of the Company being included in such
offering (a “Demand Registration”).

               (b) Following receipt of any notice under Section 2.1, the Company shall (i) within
ten (10) days of the receipt thereof, give written notice to all Holders (the “Registration
Notice”) and (ii) use its best efforts to effect the registration under the Securities Act as
soon as practicable, and in any event within one hundred eighty (180) days after receipt of such
notice, for public sale in accordance with the method of disposition specified in such notice of
the number of Registrable Securities which the Holders request to be registered, subject to the
limitations of Section 2.1(d), within twenty (20) days following delivery of the
Registration Notice by the Company in accordance with Section 3.6.

               (c) If the Initiating Holders intend to distribute the Registrable Securities covered by their
notice by means of an underwriting, the Initiating Holders shall so advise the Company as a part of
their demand made pursuant to this Section 2.1. If the method of disposition is an
underwritten public offering, the Initiating Holders may designate the managing underwriter of such
offering, which designation shall be subject to the Company’s approval, not to be unreasonably
withheld. Each Holder may elect to include in such underwriting all or any part of the Registrable
Securities it holds, subject to the limitations provided for in Section 2.1(d).

               (d) A Registration Statement filed pursuant to this Section 2.1 may, subject to the
following provisions and in addition to the Registrable Securities held by Holders, include shares
of Common Stock for sale by the Company for its own account for sale in accordance with the method
of disposition specified by the Initiating Holders. If such registration shall be underwritten,
the Company and all Holders proposing to distribute their shares through such underwriting shall
enter into an underwriting agreement in customary form with the representative of the underwriter
or underwriters selected for such underwriting. If and to the extent that the managing underwriter
determines that marketing factors require a limitation on the number of shares to be included in
such registration, then the shares of Common Stock sought to be registered by Holders who are not
Investors (collectively, the “Other Stockholders”) and shares of Common Stock to be sold by
the Company for its own account shall be excluded from such registration to the extent so required
by such managing underwriter, and unless the Other Stockholders and the Company have otherwise
agreed in writing, such exclusion shall be applied first to the shares of Common Stock of the
Company to be included for its own account to the extent required by the managing underwriter and
then to the shares sought to be registered by the Other Stockholders to the extent required by the
managing underwriter. If, after exclusion of all shares sought to be registered by the Company and
the Other Stockholders, the managing underwriter further determines that marketing factors require
a limitation on the number of

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Registrable Securities to be registered under this Section 2.1, then Registrable
Securities held by Investors shall be excluded in accordance with Section 2.5 to the extent
so required by the managing underwriter. In any event, all securities to be sold other than
Registrable Securities shall be excluded prior to any exclusion of Registrable Securities. No
Registrable Securities or other securities, in either case, excluded from the underwriting by
reason of the underwriter’s marketing limitation shall be included in such registration. If any of
the Holders who have requested inclusion in such registration as provided above, disapproves of the
terms of the underwriting, then such Holders may elect to withdraw therefrom by written notice to
the Company and the managing underwriter. The securities so withdrawn shall also be withdrawn from
registration. The Company shall not include, and shall not permit other holders of its securities
to include, any securities in such Demand Registration other than securities of the same class or
series as the Registrable Securities to which the demand has been made pursuant to Section
2.1.

               (e) Notwithstanding the foregoing, if the Company shall furnish to the Holders requesting a
Registration Statement pursuant to this Section 2.1, a certificate signed by the Chief
Executive Officer of the Company stating that in the good faith judgment of the Board, it would be
seriously detrimental to the Company and its stockholders for such Registration Statement to be
filed and it is therefore essential to defer the filing of such Registration Statement, the Company
shall have the right to defer taking action with respect to such filing for a period of not more
than ninety (90) days after receipt of the request of the Initiating Holders; provided, however,
that the Company may not utilize this right more than once in any twelve-month period.

               (f) In addition, the Company shall not be obligated to effect, or to take any action to
effect, any registration pursuant to this Section 2.1:

               (i) After the Company has effected two registrations pursuant to this Section 2.1
which cover all the Registrable Securities sought to be included in such registrations and such
registrations have been declared or ordered effective; or

               (ii) During the period starting with the date sixty (60) days prior to the Company’s good
faith estimate of the date of filing of, and ending on a date one hundred eighty (180) days after
the effective date of, a registration subject to Section 2.2 hereof; provided that the
Company is actively employing in good faith all reasonable efforts to cause such registration
statement to become effective; or

               (iii) If the Initiating Holders propose to dispose of shares of Registrable Securities that
may be immediately registered on Form S-3 pursuant to a request made pursuant to Section
2.3 below.

          2.2 Piggy-Back Registration.

               (a) If the Company at any time (other than pursuant to Section 2.1 or Section
2.3) proposes to register any of its securities under the Securities Act for sale to the
public, whether for its own account or for the account of other stockholders of the Company or both
(except with respect to (i) an Initial Public Offering, (ii) Registration Statements on Forms

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S-4, S-8 or any successor to such forms, or (iii) any Registration Statement including only
securities issued pursuant to a dividend reinvestment plan), each such time the Company shall
promptly give written notice to the holders of Registrable Securities of its intention to do so
(the “Piggy-Back Notice”). Upon the written request of a majority of the Holders (which
majority must include the Lead Investor, so long as the Lead Investor holds at least 50% of the
Series H Preferred Shares acquired by it pursuant to the Purchase Agreement), received by the
Company within twenty (20) days after the delivery of such Piggy-Back Notice by the Company in
accordance with Section 3.6, to register any or all of the Registrable Securities, the
Company shall use its best efforts to cause the Registrable Securities as to which registration
shall have been so requested to be included in such Registration Statement. If the Registration
Statement relates to an underwritten public offering, the Company shall so advise the holders of
Registrable Securities as a part of a Piggy-Back Notice. In such event, each Holder’s right to
include Registrable Securities in such registration shall be conditioned upon its participation in
such underwriting to the extent provided herein. The Holders, if participating in such
distribution, shall enter into an underwriting agreement in customary form with the underwriter or
underwriters selected for underwriting by the Company.

               (b) Any request by a Holder for inclusion in any registration may be withdrawn, in whole or in
part, at any time prior to the effective date of the Registration Statement for such offering.

               (c) The Company shall have the right to terminate or withdraw any registration contemplated
under this Section 2.2 prior to the effectiveness of such registration, whether or not the
Holders have elected to include securities in such registration. The expenses of such registration
shall be borne by the Company, in accordance with Section 2.6 hereof.

               (d) There shall be no limitation on the number of registrations a Holder may participate in
under this Section 2.2.

          2.3 Registration on Form S-3. If at any time (i) Holders of at least thirty percent
(30%) of the Registrable Securities then outstanding request that the Company file a Registration
Statement on Form S-3 or any comparable or successor form thereto for a public offering of all or
any portion of the Registrable Securities and (ii) the Company is a registrant entitled to use
Form S-3 or any successor form thereto to effect the distribution of such Registrable Securities
for public sale or resale (as the case may be), then the Company shall promptly give written notice
of the proposed registration to all other Holders and shall use its best efforts to register under
the Securities Act on Form S-3 or any comparable or successor form thereto, for public sale or
resale (as the case may be) in accordance with the method of disposition specified in such notice,
the number of Registrable Securities specified in such notice, together with the number of
Registrable Securities requested by any other Holder or Holders for inclusion in such registration,
received by the Company within fifteen (15) days after delivery of such notice by the Company.
Whenever the Company is required by this Section 2.3 to use its best efforts to effect the
registration of Registrable Securities, each of the procedures and requirements of Section
2.1 shall apply to such registration. Notwithstanding the foregoing, the Company shall not be
obligated to effect any such registration pursuant to this Section 2.3: (1) if Form S-3 is
not available for such offering by the Holders; (2) if the Holders, together with the holders of
any other securities of the Company entitled to inclusion in such registration, propose to sell

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Registrable Securities and such other securities (if any) at an aggregate price to the public
(net of any underwriters’ discounts or commissions) of less than $2,500,000; or (3) if the Company
shall furnish to the Holders a certificate signed by the President of the Company stating that in
the good faith judgment of the Board, it would be materially detrimental to the Company and its
stockholders for such Form S-3 registration to be effected at such time, in which event the Company
shall have the right to defer the filing of the Form S-3 registration statement for a period of not
more than sixty (60) days after receipt of the request of the Holder or Holders under this
Section 2.3; provided, however, that the Company shall not utilize this right more than
once in any twelve month period; (4) if the Company has already effected two registrations on Form
S-3 for the Holders pursuant to this Section 2.3 within the immediately preceding 12 month
period; or (5) in any particular jurisdiction in which the Company would be required to qualify to
do business or to execute a general consent to service of process in effecting such registration,
qualification or compliance. Subject to the foregoing, there shall be no limitation on the number
of registrations on Form S-3 which may be requested and obtained under this Section 2.3.

          2.4 Registration Procedures. If and whenever the Company is required by the
provisions of Sections 2.1, 2.2 or 2.3 to use its best efforts to effect the registration
of any Registrable Securities under the Securities Act, the Company shall, as expeditiously as
possible:

               (a) Prepare and file with the Commission a Registration Statement on the applicable form with
respect to such securities and use its best efforts to cause such Registration Statement to become
and remain effective until the earlier of (i) the sale of all of the Registrable Securities covered
thereby and (ii) two years following the commencement of the offering thereunder; provided,
however, that in the case of any registration of Registrable Securities on Form S-3 or on a
comparable or successor form which are intended to be offered on a continuous or delayed basis,
such two year period shall be extended, if necessary, until all such Registrable Securities are
sold, provided that Rule 415 or any successor rule under the Securities Act permits an
offering on a continuous or delayed basis; and provided, further, that, as soon as
practicable but in no event later than five (5) Business Days before filing such Registration
Statement, any related prospectus or any amendment or supplement thereto (other than any amendment
or supplement made solely as a result of incorporation by reference of documents filed with the
Commission subsequent to the filing of such Registration Statement), the Company shall furnish to
(x) the Lead Investor for so long as the Lead Investor continues to hold 5% or more of the
outstanding Registrable Securities or is an Affiliate of a director of the Company and (y) the
underwriters, if any, copies of all such documents proposed to be filed, which documents shall be
subject to review by the Lead Investor and any such underwriters;

               (b) Prepare and file with the Commission such amendments and supplements to such Registration
Statement and the prospectus used in connection therewith as may be necessary to keep such
Registration Statement effective for the period specified herein and comply with the provisions of
the Securities Act with respect to the disposition of all Registrable Securities covered by such
Registration Statement in accordance with the sellers’ intended method of disposition set forth in
such Registration Statement for such period; provided, that the Company shall comply with
the provisions of Section 2.4(a) above;

               (c) Furnish to the Holders and to each underwriter copies of the Registration Statement and
each such amendment and supplement thereto (together with all

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exhibits thereto) and the prospectus included therein and any other prospectus filed under
Rule 424 or Rule 434 under the Securities Act as the Holders and such underwriter reasonably may
request in order to facilitate the disposition of the Registrable Securities covered by such
Registration Statement;

               (d) Use its best efforts to register or qualify the Registrable Securities covered by such
Registration Statement under the securities or “blue sky” laws of such jurisdictions as the sellers
of the Registrable Securities or, in the case of an underwritten public offering, the managing
underwriter reasonably shall request; provided, however, that the Company shall not
be required to (i) qualify to transact business as a foreign corporation in any jurisdiction where
it is not so qualified, (ii) consent to general service of process or (iii) submit to taxation in
any such jurisdiction, unless the Company is already subject to service or subject to taxation in
such jurisdiction;

               (e) Use its best efforts to list or qualify the Registrable Securities covered by such
Registration Statement on any securities exchange or quotation system on which the Common Stock is
then listed;

               (f) Comply in all material respects with all applicable rules and regulations under the
Securities Act and Exchange Act;

               (g) Immediately notify the Holders and each underwriter under such Registration Statement, at
any time when a prospectus relating thereto is required to be delivered under the Securities Act,
of the happening of any event which has resulted or would result in the prospectus contained in
such Registration Statement, as then in effect, to include an untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading, and promptly
prepare and furnish to such seller and underwriter an updated prospectus;

               (h) If the offering is underwritten, and at each Holder’s request, use its best efforts to
furnish on the date that Registrable Securities are delivered to the underwriters for sale pursuant
to such registration (i) an opinion, dated such date, of counsel to the Company, addressed to the
underwriters and the Holders to such effect as reasonably may be requested by the underwriters, and
(ii) a letter, dated such date, from the independent public accountants retained by the Company,
addressed to the underwriters and, if applicable, the Holders requesting registration of
Registrable Securities, in form and substance as is customarily given by independent public
accountants to underwriters in an underwritten public offering, and deliver copies of such letter
to such Holders;

               (i) Upon reasonable notice and at reasonable times during normal business hours, make
available for inspection by (x) the Lead Investor for so long as the Lead Investor continues to
hold 5% or more of the outstanding Registrable Securities or is an Affiliate of a director of the
Company and (y) any underwriter participating in any distribution pursuant to such Registration
Statement, and any attorney, accountant or other agent retained by such Holders or such
underwriter, reasonable access to all financial and other records, pertinent corporate documents
and properties of the Company, as such parties may reasonably request, and

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cause the Company’s officers, directors and employees to supply all information reasonably
requested by any of the Holders, such underwriter, attorney, accountant or agent in connection with
such Registration Statement;

               (j) Notify the Holders (i) when the prospectus or any prospectus supplement or post-effective
amendment has been filed, and, with respect to such Registration Statement or any post-effective
amendment, when the same has become effective, (ii) of any request by the Commission for amendments
or supplements to such Registration Statement or to amend or supplement such prospectus or for
additional information, (iii) of the issuance by the Commission of any stop order suspending the
effectiveness of such Registration Statement or the initiation of any proceeding for that purpose
and (iv) of the suspension of the qualification of securities covered by such registration for
offering or sale in any jurisdiction, or of the initiation of any proceeding for any of such
purposes;

               (k) Take such other actions as the Holders or the underwriters reasonably request in order to
expedite or facilitate the disposition of the Registrable Securities, including, without
limitation, preparing for, and participating in, such number of “road shows” and all such other
customary selling efforts as the underwriters reasonably request in order to expedite or facilitate
such disposition;

               (l) Use its reasonable best efforts to prevent the issuance of any stop order or other
suspension of effectiveness and, if such order is issued, obtain the withdrawal of any such order
as soon as reasonably possible; and

               (m) Otherwise use its reasonable best efforts to comply with all applicable rules and
regulations of the Commission under the Securities Act and the Exchange Act and take such other
actions as may be reasonably necessary to facilitate the registration of the Registrable Securities
hereunder; and make available to its security holders, as soon as reasonably practicable, but not
later than the Availability Date (as defined below), an earnings statement covering a period of at
least twelve (12) months, beginning after the effective date of each Registration Statement, which
earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act (for the
purpose of this Section 2.4(m), “Availability Date” means the forty-fifth
(45th) day following the end of the fourth fiscal quarter that includes the effective
date of such Registration Statement, except that, if such fourth fiscal quarter is the last quarter
of the Company’s fiscal year, “Availability Date” means the ninetieth (90th) day
after the end of such fourth fiscal quarter).

          2.5 Underwriting Requirements. In connection with any offering involving an
underwriting of shares of the Company’s capital stock, the Company shall not be required to include
any of the Registrable Securities in such underwriting unless the Holders accept the terms of the
underwriting as agreed upon between the Company and its underwriters, and then only in such
quantity as the underwriters in their sole discretion determine will not jeopardize the success of
the offering by the Company. If the total number of securities, including Registrable Securities,
requested by stockholders to be included in such offering exceeds the number of securities to be
sold (other than by the Company) that the underwriters in their reasonable discretion determine is
compatible with the success of the offering, then the Company shall be required to include in the
offering only that number of such securities, including Registrable

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Securities, which the underwriters and the Company in their sole discretion determine will not
jeopardize the success of the offering. If the underwriters determine that less than all of the
Registrable Securities requested to be registered can be included in such offering, then the
Registrable Securities that are included in such offering shall be allocated among the selling
Holders in proportion (as nearly as practicable) to the number of Registrable Securities owned by
each selling Holder or in such other proportions as shall mutually be agreed to by all such selling
Holders. Notwithstanding the foregoing, in no event shall (i) the number of Registrable Securities
held by Investors included in the offering be reduced unless all other securities (including
Registrable Securities held by Other Stockholders) are first entirely excluded from the offering,
and (ii), subject to the immediately preceding clause (i), the number of Registrable Securities
held by Other Stockholders included in the offering be reduced unless all other securities
(excluding, for the avoidance of doubt, the Registrable Securities held by the Investors and any
securities held by the Company) are first entirely reduced to zero.

          2.6 Expenses. The Company shall bear all reasonable expenses incurred in complying
with Sections 2.1, 2.2, 2.3 and 2.4, including, without limitation, all registration and
filing fees (exclusive of underwriting discounts and commissions attributable to the Registrable
Securities being registered pursuant to the exercise of demand rights in accordance with
Section 2.1 and fees of legal counsel other than one counsel for all selling Holders to be
selected by the Lead Investor, printing expenses, fees and disbursements of counsel and independent
public accountants for the Company, fees and expenses (including counsel fees) incurred in
connection with complying with state securities or “blue sky” laws, reasonable fees and
disbursements of transfer agents and registrars and costs of any insurance which might be obtained
by the Company with respect to the offering by the Company.

          2.7 Indemnification and Contribution.

               (a) The Company shall indemnify and hold harmless, each Holder and its Affiliates and the
directors, officers, employees, investors, partners and agents of each Holder and its Affiliates,
from and against any and all losses, claims, damages, liabilities and expenses (including, without
limitation, reasonable attorney fees and disbursements and other expenses incurred in connection
with investigating, preparing or defending any action, claim or proceeding, pending or threatened
and the costs of enforcement hereof) (collectively, “Losses”) to which any such Person may
become subject, arising out of or based upon any untrue statement of a material fact contained in
any Registration Statement covering any Registrable Securities, any related prospectus or
preliminary prospectus, or any amendment or supplement thereto, or any omission to state in any
thereof a material fact required to be stated therein or necessary to make the statements therein
(in the case of a prospectus or prospectus supplement, in light of the circumstances under which
they were made) not misleading, except in each case insofar, but only insofar, as the same arises
out of or is based upon an untrue statement or alleged untrue statement of a material fact or an
omission or alleged omission to state a material fact in such Registration Statement, prospectus,
preliminary prospectus, amendment or supplement, as the case may be, made or omitted, as the case
may be, in express reliance upon and in strict conformity with written information furnished to the
Company by the Holder expressly for use therein. This indemnity is in addition to any liability
that the Company may otherwise have. The Company shall also indemnify any underwriters of the
Registrable Securities, selling brokers, dealer managers and similar securities industry
professionals participating in the distribution and their

-11-

 

officers and directors and each Person who controls such underwriters or other Persons (within
the meaning of the Securities Act) to the same extent as provided above with respect to the
indemnification of the Holder and its Affiliates as described above.

               (b) In connection with any Registration Statement covering Registrable Securities, each Holder
shall furnish to the Company in writing such information with respect to the Holder as the Company
reasonably requests for use in connection with such Registration Statement, any related Prospectus
or preliminary prospectus, or any amendment or supplement thereto, and shall indemnify, to the
fullest extent permitted by law, the Company, the Company’s directors, officers, employees and
agents, each Person who controls the Company (within the meaning of the Securities Act), against
all Losses arising out of or based upon any untrue statement of a material fact contained in any
Registration Statement covering any Registrable Securities, any related Prospectus or preliminary
prospectus, or any amendment or supplement thereto, or any omission to state in any such
prospectus, amendment or supplement, a material fact required to be stated therein or necessary to
make the statements therein (in the case of a prospectus or prospectus supplement, in light of the
circumstances under which they were made) not misleading, in each case to the extent, and only to
the extent, that the same arises out of or is based upon an untrue statement of a material fact or
an omission to state a material fact in such Registration Statement or in such related Prospectus,
preliminary prospectus, amendment or supplement, as the case may be, made or omitted, as the case
may be, in express reliance upon and in strict conformity with written information furnished to the
Company by the Holder expressly for use therein. Notwithstanding any other provision of this
Agreement, in no event shall the Holder’s indemnification obligation exceed the dollar amount of
the proceeds received by the Holder upon the sale of the Registrable Securities giving rise to such
obligation.

               (c) Promptly after receipt by any Person (the “Indemnified Person”) of notice of any
demand, claim or circumstances which would or might give rise to a claim or the commencement of any
action, proceeding or investigation in respect of which indemnity may be sought pursuant to
Section 2.7, such Indemnified Person shall promptly notify the party obligated to provide
indemnification under this Section 2.7 in respect thereof (an “Indemnifying Party”)
and the Indemnifying Party shall assume the defense thereof, including the employment of counsel
reasonably satisfactory to such Indemnified Person, and shall assume the payment of all fees and
expenses in connection with such defense and such counsel; provided, however, that
the failure of any Indemnified Person to so notify the Indemnifying Party shall not relieve the
Indemnifying Party of its obligations hereunder except to the extent that the Indemnifying Party is
actually and materially prejudiced by such failure to notify. In any such proceeding, any
Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of
such counsel shall be at the expense of such Indemnified Person unless: (i) the Indemnifying Party
and the Indemnified Person shall have mutually agreed to the retention of such counsel; or (ii) in
the reasonable judgment of counsel to such Indemnified Person (x) representation of both parties by
the same counsel would be inappropriate due to actual or potential differing interests between them
or (y) if there are one or more defenses available to such Indemnified Person that is/are not
available to the Indemnifying Party. The Indemnifying Party shall not be liable for any settlement
of any proceeding effected without its written consent, which consent shall not be unreasonably
withheld, delayed or conditioned, but if settled with such consent, or if there be a final judgment
for the plaintiff therein, the Indemnifying Party shall indemnify and hold harmless such
Indemnified Person from and against any Losses by reason of such settlement or

-12-

 

judgment. Without the prior written consent of the Indemnified Person, which consent shall
not be unreasonably withheld, delayed or conditioned, the Indemnifying Party shall not effect any
settlement of any pending or threatened proceeding in respect of which any Indemnified Person is a
party, unless such settlement includes an unconditional release of such Indemnified Person from all
liability arising out of such proceeding.

               (d) (i) If the indemnification provided for in this Section 2.7 from the Indemnifying
Party is unavailable to an Indemnified Person hereunder or is inadequate in respect of any Losses
for which indemnification is provided under this Section 2.7, then the Indemnifying Party,
in lieu of indemnifying such Indemnified Person, shall contribute to the amount paid or payable by
such Indemnified Person as a result of such Losses in such proportion as is appropriate to reflect
the relative fault of the Indemnifying Party and Indemnified Person(s) in connection with the
actions that resulted in such Losses, as well as any other relevant equitable considerations. The
relative fault of such Indemnifying Party and Indemnified Person shall be determined by reference
to, among other things, whether any action in question, including any untrue or alleged untrue
statement of a material fact or omission or alleged omission to state a material fact, has been
made by, or relates to information supplied by, such Indemnifying Party or Indemnified Persons, and
the parties’ relative intent, knowledge, access to information and opportunity to correct or
prevent such action. The amount paid or payable by a party as a result of the Losses referred to
above shall be deemed to include, subject to the limitations set forth in Section 2.7(c),
any legal or other fees or expenses reasonably incurred by such party in connection with any
investigation or proceeding.

             
  (ii) The parties hereto agree that it would not be just and equitable if contribution pursuant
to this Section 2.7(d) were determined by pro rata allocation or by any other method of
allocation that does not take account of the equitable considerations referred to in the
immediately preceding paragraph. Notwithstanding any other provision hereof, in no event shall the
Holder’s contribution obligation exceed the excess of (A) the dollar amount of the proceeds
received by the Holder upon the sale of the Registrable Securities giving rise to such contribution
obligation over (B) the dollar amount of any damages that the Holder has otherwise been required to
pay by reason of the untrue or alleged untrue statement or omission or alleged omission giving rise
to such obligation. No Person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty
of such fraudulent misrepresentation.

              
(iii) If any provision of an indemnification or contribution clause in an underwriting
agreement or agency agreement executed by or on behalf of the Holder differs from a provision in
this Section 2.7, such provision in the underwriting agreement shall determine the Holder’s
rights in respect thereof.

       
        (e) Notwithstanding anything in this Agreement to the contrary, the indemnities and
obligations provided in this Section 2.7 shall survive the transfer of any Registrable
Securities by the Holder.

          2.8 Reporting. With a view to making available the benefits of certain rules and
regulations of the Commission which may at any time permit the sale of the Registrable Securities
to the public without registration, so long as the Company is subject to the reporting

-13-

 

requirements of the Exchange Act, the Company shall:

               (a) make and keep public information available, as contemplated in Rule 144 under the
Securities Act (or any successor rule); and

               (b) use its best efforts to file with the Commission in a timely manner all reports and other
documents required of the Company under the Securities Act and the Exchange Act.

          2.9 Furnishing Information. It shall be a condition precedent to the obligations of
the Company to take any action pursuant to this Article II that each Holder furnish to the
Company in writing such information regarding such Holder, the Registrable Securities held by it
and the intended method of disposition of such securities as shall be required to effect the
registration thereof.

          2.10 Additional Registration Rights. The Company shall not, after the date hereof,
enter into any agreement providing any registration rights to any of its security holders or
potential security holders, without the prior written consent of holders of a majority of the
Registrable Securities (which consent must include the Lead Investor so long as the Lead Investor
holds at least 50% of the Series H Preferred Shares acquired by it pursuant to the Purchase
Agreement, unless such registration rights are subordinate to the registration rights of the
Holders hereunder).

          2.11 Restrictions on Transfer.

               (a) Each Holder agrees not to make any disposition of all or any portion of the Preferred
Stock unless and until:

               (i) there is then in effect a registration statement under the Securities Act covering such
proposed disposition and such disposition is made in accordance with the “Plan of Distribution”
contained in such registration statement;

               (ii) (A) the transferee has agreed in writing to be bound by the terms of this Agreement, (B)
such 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 (C) if reasonably requested by the Company, such Holder shall have furnished the Company with
an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not
require registration of such shares under the Securities Act; or

               (iii) The shares of Preferred Stock are then eligible for transfer pursuant to Rule 144
promulgated under the Securities Act. Furthermore, it is agreed that the Company will not require
opinions of counsel for transactions made pursuant to Rule 144 of the Securities Act.

               (b) Notwithstanding the provisions of subsection (a) above, no such restriction shall apply to
a transfer by a Holder that is (A) a partnership transferring to its partners or former partners in
accordance with partnership interests, (B) a corporation

-14-

 

transferring to a parent corporation that owns a majority of the capital stock of the Holder,
to a majority-owned subsidiary, or to an affiliate under common control with the Holder, (C) a
limited liability company transferring to its members or former members in accordance with their
interest in the limited liability company, (D) a Holder transferring to its affiliated venture
capital fund or affiliated trust, (E) an individual transferring to the Holder’s family member or
trust for the benefit of an individual Holder, (F) a trust transferring to a trust beneficiary or
affiliated trust, or (G) a Holder transferring to any transferee that is a Major Investor, provided
that the Company is given written notice thereof; provided that in each case the transferee will
agree in writing to be subject to the terms of this Agreement to the same extent as if he were an
original Holder hereunder.

               (c) So long as the Registrable Securities are not (i) covered by an effective registration
statement; and/or (ii) eligible for transfer pursuant to Rule 144 promulgated under the
Securities Act, each certificate representing Registrable Securities shall be stamped or otherwise
imprinted with legends substantially similar to the following (in addition to any legend required
under applicable state securities laws):

THE SALE, PLEDGE, HYPOTHECATION OR TRANSFER OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE TERMS AND
CONDITIONS OF A CERTAIN INVESTOR RIGHTS AGREEMENT BY AND BETWEEN THE
STOCKHOLDERS AND THE COMPANY. ANY INDIVIDUAL AND/OR ENTITY
ACCEPTING ANY INTEREST IN SUCH SECURITIES SHALL BE DEEMED TO AGREE
TO AND SHALL BECOME BOUND BY ALL RESTRICTIONS AND OBLIGATIONS UNDER
SUCH AGREEMENT. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON
WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.

          2.12 Lock-Up Agreement.

               (a) Lock-Up Period; Agreement.

               (i) In connection with the Initial Public Offering of the Company’s securities and upon
request of the Company or the underwriters managing such offering of the Company’s securities, each
Holder agrees not to sell, make any short sale of, loan, grant any option for the purchase of, or
otherwise dispose of any securities of the Company, however or whenever acquired (other than those
included in the registration) without the prior written consent of the Company or such
underwriters, as the case may be, for such period of time (not to exceed 180 days but subject to
such extension or extensions as may be required by the underwriters in order to publish research
reports while complying with the Rule 2711 of the National Association of Securities Dealers, Inc.)
from the effective date of such registration statement as may be requested by the Company or such
managing underwriters and to execute an agreement reflecting the foregoing as may be requested by
the underwriters at the time of the Company’s Initial Public Offering.

-15-

 

               (ii) In connection with the Initial Public Offering of the Company’s securities and upon
request of the Company or the underwriters managing such offering of the Company’s securities, each
holder of Series H Preferred Stock (or Common Stock issued upon conversion thereof) agrees to
execute a lockup agreement as may be reasonably requested by any such underwriters.

               (b) Limitations. The obligations described in Section 2.12(a) shall not apply
to shares of the Company’s Common Stock acquired in the Company’s Initial Public Offering or to
shares of the Company’s Common Stock acquired in the public market following such Initial Public
Offering. In addition, the obligations described in Section 2.12(a) shall apply only if
all officers and directors of the Company and all greater than 1% stockholders enter into similar
agreements.

               (c) Stop-Transfer Instructions. In order to enforce the foregoing covenants the
Company may impose stop-transfer instructions with respect to the securities of each Holder (and
the securities of every other person subject to the restrictions in Section 2.12(a).

               (d) Transferees Bound. Each Holder agrees that prior to the Company’s Initial Public
Offering it will not transfer securities of the Company unless each transferee agrees in writing to
be bound by all relevant provisions of this Section 2.12.

               (e) Each Holder agrees that a legend reading substantially as follows shall be placed on all
certificates representing all Registrable Securities of each Holder (and the shares or securities
of every other person subject to the relevant restrictions contained in this Section 2.12):

THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A
LOCK-UP PERIOD OF UP TO 180 DAYS AFTER THE EFFECTIVE DATE OF
THE ISSUER’S REGISTRATION STATEMENT FILED UNDER THE ACT, AS
AMENDED, AS SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND
THE ORIGINAL HOLDER OF THESE SECURITIES, A COPY OF WHICH MAY BE
OBTAINED AT THE ISSUER’S PRINCIPAL OFFICE. SUCH LOCK-UP PERIOD
IS BINDING ON TRANSFEREES OF THESE SHARES.

               (f) Each Holder of Series H Preferred Stock agrees that a legend reading substantially as
follows shall be placed on all certificates representing all shares of Series H Preferred Stock (or
Common Stock issued upon conversion thereof) of each such Holder (and the shares or securities of
every other person subject to the relevant restrictions contained in this Section 2.12):

THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY BE SUBJECT
TO A LOCK-UP

-16-

 

PERIOD AFTER THE EFFECTIVE DATE OF THE ISSUER’S REGISTRATION
STATEMENT FILED UNDER THE ACT, AS AMENDED, AS SET FORTH IN AN
AGREEMENT BETWEEN THE COMPANY AND THE ORIGINAL HOLDER OF THESE
SECURITIES, A COPY OF WHICH MAY BE OBTAINED AT THE ISSUER’S
PRINCIPAL OFFICE. SUCH LOCK-UP PERIOD, IF APPLICABLE, IS
BINDING ON TRANSFEREES OF THESE SHARES.

Article III Miscellaneous.

          3.1 Effectiveness of Amendment. This Agreement shall become effective immediately
prior to, but contingent upon, the consummation a Qualified Initial Public Offering.

          3.2 Termination. This Agreement shall terminate, and have no further force and
effect, upon the closing of a Sale of the Company (as defined below). For purposes of this
Section 3.2, a “ Sale of the Company” shall include a sale, lease, or other
disposition of all or substantially all of the Company’s assets or business or the Company’s merger
into or consolidation with any other corporation or other entity, or any other corporate
reorganization, in which the holders of the Company’s outstanding voting stock immediately prior to
such transaction own, immediately after such transaction, securities representing less than fifty
percent (50%) of the voting power of the corporation or other entity surviving such transaction,
provided that a Sale of the Company shall not include a merger effected exclusively for the purpose
of changing the domicile of the Company or a sale of shares by the Company for primarily equity
financing purposes.

          3.3 Successors and Assigns. This Agreement may not be assigned by a party hereto
without the prior written consent of the Company or the Requisite Investors; provided,
however, that an Investor may assign its rights and delegate its duties hereunder in whole
or in part, without the prior written consent of the Company, to an Affiliate and to any Person to
whom such investor transfers any of the Registrable Securities; provided, that, no such
assignment shall be effective or confer any right on any such assignee unless, prior to such
assignment, the assignee agrees in writing that such assignee will be bound by all provisions
binding on such Investor. The provisions of this Agreement shall inure to the benefit of and be
binding upon the respective permitted successors and assigns of the parties. Except for any other
provisions of this Agreement expressly to the contrary, nothing in this Agreement, express or
implied, is intended to confer upon any party other than the parties hereto or their respective
successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this
Agreement.

          3.4 Counterparts; Faxes. This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the
same instrument. This Agreement may also be executed via facsimile, which shall be deemed an
original.

-17-

 

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

          3.6 Notices. Unless otherwise provided, any notice required or permitted under this
Agreement shall be given in writing and shall be deemed effectively given as hereinafter described:
(i) if given by personal delivery, then such notice shall be deemed given upon such delivery; (ii)
if given by telecopier, then such notice shall be deemed given upon receipt of confirmation of
complete transmittal; (iii) if given by mail, then such notice shall be deemed given upon the
earlier of (A) receipt of such notice by the recipient or (B) three (3) days after such notice is
deposited in first class mail, postage prepaid; and (iv) if given by an internationally recognized
overnight air courier, then such notice shall be deemed given one (1) day after delivery to such
carrier. All notices shall be addressed to the party to be notified at the address as follows, or
at such other address as such party may designate by ten (10) days’ advance written notice to the
other party:

If to the Company:

REVA Medical, Inc.

5751 Copley Drive, Suite B

San Diego, CA 92111

Attn: President

Fax: (858) 430-0729

With a copy to:

DLA Piper LLP (US)

4365 Executive Drive, Suite 1100

San Diego, CA 92121

Attn: Michael Kagnoff, Esq.

Fax: (858) 677-1401

          If to any of the Investors, at the address set forth on its signature page hereto.

          3.7 Expenses. In the event that legal proceedings are commenced by any party to this
Agreement against another party to this Agreement in connection with this Agreement, the party or
parties which do not prevail in such proceedings shall severally, but not jointly, pay their pro
rata share of the reasonable attorneys’ fees and other reasonable out-of-pocket costs and expenses
incurred by the prevailing party in such proceedings.

          3.8 Amendments and Waivers. Neither this Agreement nor any provision hereof may be
waived, modified, terminated or amended except by a written agreement signed by (a) the Company,
(b) the Requisite Investors, and (c) if the rights of the Holders are being amended or waived or
additional obligations are being imposed on the Holders, Holders holding at least a majority of the
issued and outstanding Common Stock (on an as-converted basis) then held by all Holders;
provided, that no Investor shall be materially adversely affected without its consent by
any waiver, modification, termination or amendment in which the other members of the same class are
not likewise adversely affected. The Company may take any action herein prohibited, or omit to
perform any act herein required to be performed by it, only if the Company

-18-

 

shall have obtained the written consent to such amendment, action or omission to act, of the Requisite
Investors.

          3.9 Severability. Any provision of this Agreement that is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining provisions hereof but shall be
interpreted as if it were written so as to be enforceable to the maximum extent permitted by
applicable law, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. To the extent
permitted by applicable law, the parties hereby waive any provision of law which renders any
provision hereof prohibited or unenforceable in any respect.

          3.10 Entire Agreement. This Agreement constitutes the entire agreement among the
parties hereto with respect to the subject matter hereof, and supersedes all prior agreements and
understandings, both oral and written, between the parties with respect to the subject matter
hereof, including but not limited to the Prior Agreement. Prior drafts or versions of this
Agreement shall not be used to interpret this Agreement.

          3.11 Further Assurances. The parties shall execute and deliver all such further
instruments and documents and take all such other actions as may reasonably be required to carry
out the transactions contemplated hereby and to evidence the fulfillment of the agreements herein
contained.

          3.12 Governing Law; Consent to Jurisdiction. This Agreement shall be governed by, and
construed in accordance with, the internal laws of the State of New York without regard to the
choice of law principles thereof. Each of the parties hereto irrevocably submits to the
jurisdiction of the courts of the State of New York located in New York County and the United
States District Court for the Southern District of New York for the purpose of any suit, action,
proceeding or judgment relating to or arising out of this Agreement and the transactions
contemplated hereby. Service of process in connection with any such suit, action or proceeding may
be served on each party hereto anywhere in the world by the same methods as are specified for the
giving of notices under this Agreement. Each of the parties hereto irrevocably consents to the
jurisdiction of any such court in any such suit, action or proceeding and to the laying of venue in
such court. Each party hereto irrevocably waives any objection to the laying of venue of any such
suit, action or proceeding brought in such courts and irrevocably waives any claim that any such
suit, action or proceeding brought in any such court has been brought in an inconvenient forum.
THE COMPANY AND EACH OF THE INVESTORS HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY
IN ANY LEGAL PROCEEDING RELATING TO OR ARISING OUT OF THIS AGREEMENT OR ANY OTHER TRANSACTION
DOCUMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY.

          3.13 Independent Nature of Investors’ Obligations and Rights. Except as expressly
provided herein and therein, the obligations of each Investor under this Agreement and each
other Transaction Document to which it is a party, are several and not joint with the obligations
of any other Investor, and no Investor shall be responsible in any way for the
performance of the obligations of any other Investor under this

-19-

 

Agreement or any other Transaction Document to which it is a party. The decision of each
Investor to purchase Series H Preferred Shares and Warrants pursuant to the Purchase Agreement and
the other Transaction Documents has been made by such Investor independently of any other Investor.
Nothing contained herein or in any other Transaction Document, and no action taken by any Investor
(including, without limitation, the Lead Investor) pursuant hereto or thereto, shall be deemed to
constitute the Investors as a partnership, an association, a joint venture or any other kind of
entity, or create a presumption that the Investors are in any way acting in concert or as a group
with respect to such obligations or the transactions contemplated by this Agreement or the other
Transaction Documents. Each Investor acknowledges that no other Investor (including, without
limitation, the Lead Investors) has acted as agent for such Investor in connection with making its
investment under the Purchase Agreement and that no Investor (including, without limitation, the
Lead Investors) will be acting as agent of such Investor in connection with monitoring its
investment in the Series H Preferred Shares or enforcing its rights under this Agreement or the
other Transaction Documents. Each Investor shall be entitled to independently protect and
enforce its rights, including, without limitation, the rights arising out of this Agreement or out
of the other Transaction Documents to which it is a party, and it shall not be necessary for any
other Investor to be joined as an additional party in any proceeding for such purpose. The
Company acknowledges that each of the Investors has been provided with the same Transaction
Documents for the purpose of closing a transaction with multiple Investors and not because it was
required or requested to do so by any Investor. Notwithstanding anything contained in this
Agreement or any other Transaction Document to the contrary, the Lead Investors shall not have any
duty, fiduciary or otherwise, to any other Investor by virtue of such investor serving as the
Lead Investor or otherwise.

[SIGNATURE PAGE FOLLOWS]

-20-

 

[Company Signature Page]

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement or caused this Agreement
to be executed by their duly authorized representatives, as of the date first written above.

	 	 	 	 	 
	 	THE COMPANY:

REVA MEDICAL, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	       	 	  	 	 
	 	 	Address:	     5751 Copley Drive, Suite B

  San Diego, CA  92111 	 
	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	MEDTRONIC, INC.

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	       	 	Title:  	 	 
	       	 	  	 	 
	 	 	Address:	
 	 
	 	 	 	
 	 
	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	CERBERUS INTERNATIONAL, LTD.

 	 
	 	By:  	 Partridge Hill Overseas Management, LLC,
 	 
	 	 	its investment manager 	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	Jeffrey L. Lomasky, Senior Managing Director 	 

	 	 	 	 	 
	 	CERBERUS PARTNERS, L.P.

 	 
	 	By:  	 Cerberus Associates, L.L.C.,
 	 
	 	 	its general partner 	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	Jeffrey L. Lomasky, Senior Managing Director 	 

	 	 	 	 	 
	 	CERBERUS SERIES FOUR HOLDINGS, LLC

 	 
	 	By:  	 Cerberus Institutional Partners, L.P.,
 	 
	 	 	with respect to Series Four, its managing member 	 
	 	 	 
	 	By:  	 Cerberus Institutional Associates, L.L.C.,
 	 
	 	 	its general partner 	 
	 
	 	By:  	
 	 
	 	 	Name:  	Jeffrey L. Lomasky, Senior Managing Director 	 

	 	 	 	 	 
	 	GABRIEL ASSETS, LLC

 	 
	 	By:  	 Partridge Hill Management, LLC,
 	 
	 	 	its investment manager 	 
	 
	 	By:  	
 	 
	 	 	Name:  	Jeffrey L. Lomasky, Senior Managing Director 	 

	 	 	 	 	 
	 	CERBERUS AMERICA SERIES TWO HOLDINGS, LLC

 	 
	 	By:  	 Cerberus Institutional Partners (America), L.P.,
 	 
	 	 	with respect to Series Two, its managing member 	 
	 	 	 	 
	 	By:  	 Cerberus Institutional Associates, L.L.C.,
 	 
	 	 	its general partner 	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	Jeffrey L. Lomasky, Senior Managing Director 	 
	 	 	 	 
	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	BROOKSIDE CAPITAL PARTNERS FUND, LP

	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	       	 	  	 	 
	 	 	Address:	 	 
	 	 	 	 	 
	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	DANIEL R. FRANK

 	 
	 	
 	 
	 	Daniel R. Frank 	 

	 	 	 	 	 
	 	  Address:  	
 	 
	 	
  	
 	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	JAMES T. LENEHAN

 	 
	 	
 	 
	 	James T. Lenehan 	 
	 
	 	  Address:  	 	 
	 	 	 	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 	 
	 	BEAVER CREEK FUND, LTD.

 	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Address:  	 	 
	 	 	 	 	 

[Investors’ Rights Agreement Signature Page]

 

 

================================================================================

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	DOMAIN PARTNERS V, L.P.

 	 
	 	By:  	One Palmer Square Associates V, L.L.C.
 	 
	 	Its: 	  General Partner 	 
	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Kathleen K. Schoemaker 	 
	 	 	Managing Member 	 
	 
	 	DP V ASSOCIATES, L.P.

 	 
	 	By:  	One Palmer Square Associates V, L.L.C.
 	 
	 	Its: 	  General Partner 	 
	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Kathleen K. Schoemaker 	 
	 	 	Managing Member 	 
	 	 	 	
 	 
	 	 	Address:	
 	 
	 	 	 	
 	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	KENNETH RAININ ADMINISTRATIVE TRUST

 U/D/T DATED
3/26/1990
 
	 	 	 
	 	
 	 
	 	Jennifer Rainin, Trustee 	 
	 	 	 
	 	
 	 
	 	Robert B. Stockman, Trustee 	 

	 	 	 	 	 
	 	Address:  	 	 
	 	 	 	 
	 	 	 	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	GROUP OUTCOME INVESTORS I, LLC 	 
	 
	 	
 	 
	 	Robert B. Stockman

President and Chief Executive Officer 	 

	 	 	 	 	 
	 	Address:  	 
 	 
	 	 	 	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	ROBERT B. STOCKMAN

 	 
	 	
 	 
	 	Robert B. Stockman 	 

	 	 	 	 	 
	 	Address:  	 	 
	 	 	 	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	FREDERIC H. MOLL, M.D.

 	 
	 	
 	 
	 	Frederic H. Moll, M.D. 	 

	 	 	 	 	 
	 	Address:  	 	 
	 	 	 	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	C. RAYMOND LARKIN, JR.

 	 
	 	
 	 
	 	C. Raymond Larkin, Jr. 	 

	 	 	 	 	 
	 	Address:  	 	 
	 	 	 	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	GORDON E. NYE

 	 
	 	
 	 
	 	Gordon E. Nye 	 

	 	 	 	 	 
	 	Address:  	 	 
	 	 	 	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	TIMOTHY J. BARBERICH

 	 
	 	
 	 
	 	Timothy J. Barberich 	 
	 
	 	  Address:  	 	 
	 	 	 	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	EDWARD P. WEINSOFF

 	 
	 	
 	 
	 	Edward P. Weinsoff 	 
	 
	 	Address:  	 	 
	 	 	 	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	ROBERT WONG

 	 
	 	
 	 
	 	Robert Wong 	 
	 	 	 	
 	 
	 	 	Address:	
 	 
	 	 	 	
 	 

[Investors’ Rights Agreement Signature Page]

 

 

[Investor Signature Page]

     IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	SAINTS CAPITAL EVEREST, L.P.

 	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	Address:  	
 	 
	 	 	 	 

[Investors’ Rights Agreement Signature Page]exv10w17

Exhibit 10.17

REVA MEDICAL, INC.

STOCK OPTION AGREEMENT

(Immediately Exercisable)

     REVA Medical, Inc. (the “Company”) has granted to the Participant named in the Notice of
Grant of Stock Option (the “Grant Notice”) to which this Stock Option Agreement (the “Option
Agreement”) is attached an option (the “Option”) to purchase certain shares of Stock upon the terms
and conditions set forth in the Grant Notice and this Option Agreement. The Option has been
granted pursuant to and shall in all respects be subject to the terms and conditions of the REVA
Medical, Inc. 2010 Equity Incentive Plan (the “Plan”), as amended to the Date of Grant, the
provisions of which are incorporated herein by reference. By signing the Grant Notice, the
Participant: (a) acknowledges receipt of, and represents that the Participant has read and is
familiar with, the Grant Notice, this Option Agreement, the Plan and a prospectus for the Plan
prepared in connection with the registration with the Securities and Exchange Commission of shares
issuable pursuant to the Option (the “Plan Prospectus”), (b) accepts the Option subject to all of
the terms and conditions of the Grant Notice, this Option Agreement and the Plan and (c) agrees to
accept as binding, conclusive and final all decisions or interpretations of the Committee upon any
questions arising under the Grant Notice, this Option Agreement or the Plan.

     1. Definitions and Construction.

          1.1 Definitions. Unless otherwise defined herein, capitalized terms shall have the meanings
assigned to such terms in the Grant Notice or the Plan.

          1.2 Construction. Captions and titles contained herein are for convenience only and shall not
affect the meaning or interpretation of any provision of this Option Agreement. Except when
otherwise indicated by the context, the singular shall include the plural and the plural shall
include the singular. Use of the term “or” is not intended to be exclusive, unless the context
clearly requires otherwise.

     2. Tax Consequences.

          2.1 Tax Status of Option. This Option is intended to have the tax status designated in the
Grant Notice.

               (a) Incentive Stock Option. If the Grant Notice so designates, this Option is intended to be
an Incentive Stock Option within the meaning of Section 422(b) of the Code, but the Company does
not represent or warrant that this Option qualifies as such. The Participant should consult with
the Participant’s own tax advisor regarding the tax effects of this Option and the requirements
necessary to obtain favorable income tax treatment under Section 422 of the Code, including, but
not limited to, holding period requirements. (NOTE TO PARTICIPANT: If the Option is exercised more
than three (3) months after the date on which you cease to be an Employee (other than by reason of
your death or permanent and total disability as defined in Section 22(e)(3) of the Code), the
Option will be treated as a Nonstatutory Stock Option and not as an Incentive Stock Option to the
extent required by Section 422 of the Code.)

 

 

               (b) Nonstatutory Stock Option. If the Grant Notice so designates, this Option is intended to
be a Nonstatutory Stock Option and shall not be treated as an Incentive Stock Option within the
meaning of Section 422(b) of the Code.

          2.2 Election under Section 83(b) of the Code. If the Participant exercises this Option to
purchase shares of Stock that are both nontransferable and subject to a substantial risk of
forfeiture, the Participant understands that the Participant should consult with the Participant’s
tax advisor regarding the advisability of filing with the Internal Revenue Service an election
under Section 83(b) of the Code, which must be filed no later than thirty (30) days after the date
on which the Participant exercises the Option. Shares acquired upon exercise of the Option are
nontransferable and subject to a substantial risk of forfeiture if they are unvested and are
subject to a right of the Company to repurchase such shares at the Participant’s original purchase
price if the Participant’s Service terminates. Failure to file an election under Section 83(b), if
appropriate, may result in adverse tax consequences to the Participant. However, an election under
Section 83(b) may, under certain circumstances, result in adverse tax consequences to the
Participant. The Participant acknowledges that the Participant has been advised to consult with a
tax advisor prior to the exercise of the Option regarding the tax consequences to the Participant
of the exercise of the Option and the effect of filing or not filing an election under Section
83(b). AN ELECTION UNDER SECTION 83(b) MUST BE FILED, IF AT ALL, WITHIN 30 DAYS AFTER THE DATE ON
WHICH THE PARTICIPANT PURCHASES SHARES. THIS TIME PERIOD CANNOT BE EXTENDED. THE PARTICIPANT
ACKNOWLEDGES THAT TIMELY FILING OF A SECTION 83(b) ELECTION, IF APPROPRIATE, IS THE PARTICIPANT’S
SOLE RESPONSIBILITY, EVEN IF THE PARTICIPANT REQUESTS THE COMPANY OR ITS REPRESENTATIVE TO FILE
SUCH ELECTION ON HIS OR HER BEHALF.

          2.3 Notice to Company. The Participant will notify the Company in writing if the Participant
files an election pursuant to Section 83(b) of the Code. The Company intends, in the event it does
not receive from the Participant evidence of such filing, to claim a tax deduction for any amount
which would otherwise be taxable to the Participant in the absence of such an election.

          2.4 ISO Fair Market Value Limitation. If the Grant Notice designates this Option as an
Incentive Stock Option, then to the extent that the Option (together with all Incentive Stock
Options granted to the Participant under all stock option plans of the Participating Company Group,
including the Plan) becomes exercisable for the first time during any calendar year for shares
having a Fair Market Value greater than One Hundred Thousand Dollars ($100,000), the portion of
such options which exceeds such amount will be treated as Nonstatutory Stock Options. For purposes
of this Section 2.4, options designated as Incentive Stock Options are taken into account in the
order in which they were granted, and the Fair Market Value of stock is determined as of the time
the option with respect to such stock is granted. If the Code is amended to provide for a
different limitation from that set forth in this Section 2.4, such different limitation shall be
deemed incorporated herein effective as of the date required or permitted by such amendment to the
Code. If the Option is treated as an Incentive Stock Option in part and as a Nonstatutory Stock
Option in part by reason of the limitation set forth in this Section 2.4, the Participant may
designate which portion of such Option the Participant is exercising. In the absence of such
designation, the Participant shall be deemed to

2

 

have exercised the Incentive Stock Option portion of the Option first. Separate certificates
representing each such portion shall be issued upon the exercise of the Option. (NOTE TO
PARTICIPANT: If the aggregate Exercise Price of the Option (that is, the Exercise Price multiplied
by the Number of Option Shares) plus the aggregate exercise price of any other Incentive Stock
Options you hold (whether granted pursuant to the Plan or any other stock option plan of the
Participating Company Group) is greater than $100,000, you should contact the Chief Financial
Officer of the Company to ascertain whether the entire Option qualifies as an Incentive Stock
Option.)

     3. Administration.

          All questions of interpretation concerning the Grant Notice, this Option Agreement, the Plan
or any other form of agreement or other document employed by the Company in the administration of
the Plan or the Option shall be determined by the Committee. All such determinations by the
Committee shall be final, binding and conclusive upon all persons having an interest in the Option,
unless fraudulent or made in bad faith. Any and all actions, decisions and determinations taken or
made by the Committee in the exercise of its discretion pursuant to the Plan or the Option or other
agreement thereunder (other than determining questions of interpretation pursuant to the preceding
sentence) shall be final, binding and conclusive upon all persons having an interest in the Option.
Any Officer shall have the authority to act on behalf of the Company with respect to any matter,
right, obligation, or election which is the responsibility of or which is allocated to the Company
herein, provided the Officer has apparent authority with respect to such matter, right, obligation,
or election.

     4. Exercise of the Option.

          4.1
Right to Exercise. Except as otherwise provided herein, the Option shall be exercisable
on and after the Date of Grant and prior to the termination of the Option (as provided in Section
6) in an amount not to exceed the total Number of Option Shares less the number of shares
previously acquired upon exercise of the Option subject to the Company’s repurchase right set forth
in Section 11. In no event shall the Option be exercisable for more shares than the Number of
Option Shares, as adjusted pursuant to Section 9.

          4.2 Method of Exercise. Exercise of the Option shall be by means of electronic or written
notice (the “Exercise Notice”) in a form authorized by the Company. An electronic Exercise Notice
must be digitally signed or authenticated by the Participant in such manner as required by the
notice and transmitted to the Company or an authorized representative of the Company (including a
third-party administrator designated by the Company). In the event that the Participant is not
authorized or is unable to provide an electronic Exercise Notice, the Option shall be exercised by
a written Exercise Notice addressed to the Company, which shall be signed by the Participant and
delivered in person, by certified or registered mail, return receipt requested, by confirmed
facsimile transmission, or by such other means as the Company may permit, to the Company, or an
authorized representative of the Company (including a third-party administrator designated by the
Company). Each Exercise Notice, whether electronic or written, must state the Participant’s
election to exercise the Option, the number of whole shares of Stock for which the Option is being
exercised and such other representations and agreements as to the Participant’s investment intent
with respect to such shares as may be required pursuant to the

3

 

provisions of this Option Agreement. Further, each Exercise Notice must be received by the
Company prior to the termination of the Option as set forth in Section 6 and must be accompanied by
(a) full payment of the aggregate Exercise Price for the number of shares of Stock being purchased;
and (b) if the Option is exercised with respect to any Unvested Shares (as defined in Section 11),
an Assignment Separate from Certificate duly endorsed (with date and number of shares blank) in the
form attached to the Grant Notice. The Option shall be deemed to be exercised upon receipt by the
Company of such electronic or written Exercise Notice and the aggregate Exercise Price.

          4.3 Payment of Exercise Price.

               (a) Forms of Consideration Authorized. Except as otherwise provided below, payment of the
aggregate Exercise Price for the number of shares of Stock for which the Option is being exercised
shall be made (i) in cash, by check or in cash equivalent; (ii) if permitted by the Company and
subject to the limitations contained in Section 4.3(b), by means of (1) a Cashless Exercise, (2) a
Net-Exercise, or (3) a Stock Tender Exercise; or (iii) by any combination of the foregoing.

               (b) Limitations on Forms of Consideration. The Company reserves, at any and all times, the
right, in the Company’s sole and absolute discretion, to establish, decline to approve or terminate
any program or procedure providing for payment of the Exercise Price through any of the means
described below, including with respect to the Participant notwithstanding that such program or
procedures may be available to others.

                    (i) Cashless Exercise. A “Cashless Exercise” means the delivery of a properly executed
Exercise Notice together with irrevocable instructions to a broker in a form acceptable to the
Company providing for the assignment to the Company of the proceeds of a sale or loan with respect
to shares of Stock acquired upon the exercise of the Option in an amount not less than the
aggregate Exercise Price for such shares (including, without limitation, through an exercise
complying with the provisions of Regulation T as promulgated from time to time by the Board of
Governors of the Federal Reserve System).

                    (ii) Net-Exercise. A “Net-Exercise” means the delivery of a properly executed Exercise Notice
electing a procedure pursuant to which (1) the Company will reduce the number of shares otherwise
issuable to the Participant upon the exercise of the Option by the largest whole number of shares
having a Fair Market Value that does not exceed the aggregate Exercise Price for the shares with
respect to which the Option is exercised, and (2) the Participant shall pay to the Company in cash
the remaining balance of such aggregate Exercise Price not satisfied by such reduction in the
number of whole shares to be issued. Following a Net-Exercise, the number of shares remaining
subject to the Option, if any, shall be reduced by the sum of (1) the net number of shares issued
to the Participant upon such exercise, and (2) the number of shares deducted by the Company for
payment of the aggregate Exercise Price.

                    (iii) Stock Tender Exercise. A “Stock Tender Exercise” means the delivery of a properly
executed Exercise Notice accompanied by (1) the Participant’s tender to the Company, or attestation
to the ownership, in a form acceptable to the Company of whole shares of Stock having a Fair Market
Value that does not exceed the aggregate Exercise

4

 

Price for the shares with respect to which the Option is exercised, and (2) the Participant’s
payment to the Company in cash of the remaining balance of such aggregate Exercise Price not
satisfied by such shares’ Fair Market Value. A Stock Tender Exercise shall not be permitted if it
would constitute a violation of the provisions of any law, regulation or agreement restricting the
redemption of the Company’s stock. If required by the Company, the Option may not be exercised by
tender to the Company, or attestation to the ownership, of shares of Stock unless such shares
either have been owned by the Participant for a period of time required by the Company (and not
used for another option exercise by attestation during such period) or were not acquired, directly
or indirectly, from the Company.

          4.4 Tax Withholding.

               (a) In General. At the time the Option is exercised, in whole or in part, or at any time
thereafter as requested by a Participating Company, the Participant hereby authorizes withholding
from payroll and any other amounts payable to the Participant, and otherwise agrees to make
adequate provision for (including by means of a Cashless Exercise to the extent permitted by the
Company), any sums required to satisfy the federal, state, local and foreign tax (including any
social insurance) withholding obligations of the Participating Company Group, if any, which arise
in connection with the Option. The Company shall have no obligation to deliver shares of Stock
until the tax withholding obligations of the Participating Company Group have been satisfied by the
Participant.

               (b) Withholding in Shares. The Company shall have the right, but not the obligation, to
require the Participant to satisfy all or any portion of a Participating Company’s tax withholding
obligations upon exercise of the Option by deducting from the shares of Stock otherwise issuable to
the Participant upon such exercise a number of whole shares having a fair market value, as
determined by the Company as of the date of exercise, not in excess of the amount of such tax
withholding obligations determined by the applicable minimum statutory withholding rates.

          4.5 Beneficial Ownership of Shares; Certificate Registration. The Participant hereby
authorizes the Company, in its sole discretion, to deposit the shares acquired pursuant to the
exercise of the Option with the Company’s transfer agent, including any successor transfer agent,
to be held in book entry form during the term of the Escrow pursuant to Section 12. Furthermore,
the Participant hereby authorizes the Company, in its sole discretion, to deposit, following the
term of the Escrow, for the benefit of the Participant with any broker with which the Participant
has an account relationship of which the Company has notice any or all such shares which are no
longer subject to the Escrow. Except as provided by the foregoing, a certificate for the shares
shall be registered in the name of the Participant, or, if applicable, in the names of the heirs of
the Participant.

          4.6 Restrictions on Grant of the Option and Issuance of Shares. The grant of the Option and
the issuance of shares of Stock upon exercise of the Option shall be subject to compliance with all
applicable requirements of federal, state or foreign law with respect to such securities. The
Option may not be exercised if the issuance of shares of Stock upon exercise would constitute a
violation of any applicable federal, state or foreign securities laws or other law or regulations
or the requirements of any stock exchange or market system upon which the

5

 

Stock may then be listed. In addition, the Option may not be exercised unless (i) a
registration statement under the Securities Act shall at the time of exercise of the Option be in
effect with respect to the shares issuable upon exercise of the Option or (ii) in the opinion of
legal counsel to the Company, the shares issuable upon exercise of the Option may be issued in
accordance with the terms of an applicable exemption from the registration requirements of the
Securities Act. THE PARTICIPANT IS CAUTIONED THAT THE OPTION MAY NOT BE EXERCISED UNLESS THE
FOREGOING CONDITIONS ARE SATISFIED. ACCORDINGLY, THE PARTICIPANT MAY NOT BE ABLE TO EXERCISE THE
OPTION WHEN DESIRED EVEN THOUGH THE OPTION IS VESTED. The inability of the Company to obtain from
any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal
counsel to be necessary to the lawful issuance and sale of any shares subject to the Option shall
relieve the Company of any liability in respect of the failure to issue or sell such shares as to
which such requisite authority shall not have been obtained. As a condition to the exercise of the
Option, the Company may require the Participant to satisfy any qualifications that may be necessary
or appropriate, to evidence compliance with any applicable law or regulation and to make any
representation or warranty with respect thereto as may be requested by the Company.

          4.7 Fractional Shares. The Company shall not be required to issue fractional shares upon the
exercise of the Option.

     5. Transferability of the Option.

          5.1 Except as provided in Section 5.2, the Option may be exercised during the lifetime of the
Participant only by the Participant or the Participant’s guardian or legal representative and shall
not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment,
pledge, encumbrance, or garnishment by creditors of the Participant or the Participant’s
beneficiary, except transfer by will or by the laws of descent and distribution. Following the
death of the Participant, the Option, to the extent provided in Section 7, may be exercised by the
Participant’s legal representative or by any person empowered to do so under the deceased
Participant’s will or under the then applicable laws of descent and distribution.

          5.2 With the consent of the Committee and subject to any conditions or restrictions as the
Committee may impose, in its discretion, the Participant may transfer during the Participant’s
lifetime and prior to the Participant’s termination of Service all or any portion of the Option to
one or more of such persons (each a “Permitted Transferee”) as permitted in accordance with the
applicable limitations, if any, described in the General Instructions to the Form S-8 Registration
Statement under the Securities Act and, if the Grant Notice designates this Option as an Incentive
Stock Option, only as permitted by applicable regulations under Section 421 of the Code in a manner
that does not disqualify this Option as an Incentive Stock Option. No transfer or purported
transfer of the Option shall be effective unless and until: (i) the Participant has delivered to
the Company a written request describing the terms and conditions of the proposed transfer in such
form as the Company may require, (ii) the Participant has made adequate provision, in the sole
determination of the Company, for satisfaction of the tax withholding obligations of the
Participating Company Group as provided in Section 4.4 that may arise with respect to the
transferred portion of the Option, (iii) the Committee has approved the requested transfer, and
(iv) the Participant has delivered to the Company written documentation of the transfer in such
form as the Company may require. With respect to the transferred portion

6

 

of the Option, all of the terms and conditions of the Grant Notice, this Option Agreement and
the Plan shall apply to the Permitted Transferee and not to the original Participant, except for
(i) the Participant’s rendering of Service, (ii) provision for the Participating Company Group’s
tax withholding obligations, if any, and (iii) any subsequent transfer of the Option by the
Permitted Transferee, which shall be prohibited except as provided in Section 5.1, unless otherwise
permitted by the Committee, in its sole discretion. The Company shall have no obligation to notify
a Permitted Transferee of any expiration, termination, lapse or acceleration of the transferred
Option, including, without limitation, an early termination of the transferred Option resulting
from the termination of Service of the original Participant. Exercise of the transferred Option by
a Permitted Transferee shall be subject to compliance with all applicable federal, state and
foreign securities laws; however, the Company shall have no obligation to register with any
federal, state or foreign securities commission or agency such transferred Option or any shares
that may be issuable upon the exercise of the transferred Option by the Permitted Transferee.

     6. Termination of the Option.

     The Option shall terminate and may no longer be exercised after the first to occur of (a) the
close of business on the Option Expiration Date, (b) the close of business on the last date for
exercising the Option following termination of the Participant’s Service as described in Section 7,
or (c) a Change in Control to the extent provided in Section 8.

     7. Effect of Termination of Service.

          7.1 Option Exercisability. The Option shall terminate immediately upon the Participant’s
termination of Service to the extent that it is then unvested and shall be exercisable after the
Participant’s termination of Service to the extent it is then vested only during the applicable
time period as determined below and thereafter shall terminate.

               (a) Disability. If the Participant’s Service terminates because of the Disability of the
Participant, the Option, to the extent unexercised and exercisable for Vested Shares on the date on
which the Participant’s Service terminated, may be exercised by the Participant (or the
Participant’s guardian or legal representative) at any time prior to the expiration of twelve (12)
months after the date on which the Participant’s Service terminated, but in any event no later than
the Option Expiration Date.

               (b) Death. If the Participant’s Service terminates because of the death of the Participant,
the Option, to the extent unexercised and exercisable for Vested Shares on the date on which the
Participant’s Service terminated, may be exercised by the Participant’s legal representative or
other person who acquired the right to exercise the Option by reason of the Participant’s death at
any time prior to the expiration of twelve (12) months after the date on which the Participant’s
Service terminated, but in any event no later than the Option Expiration Date. The Participant’s
Service shall be deemed to have terminated on account of death if the Participant dies within three
(3) months after the Participant’s termination of Service.

               (c) Termination for Cause. Notwithstanding any other provision of this Option Agreement to
the contrary, if the Participant’s Service is terminated for Cause or if, following the
Participant’s termination of Service and during any period in which the Option

7

 

otherwise would remain exercisable, the Participant engages in any act that would constitute
Cause, the Option shall terminate in its entirety and cease to be exercisable immediately upon such
termination of Service or act.

               (d) Other Termination of Service. If the Participant’s Service terminates for any reason,
except Disability, death or Cause, the Option, to the extent unexercised and exercisable for Vested
Shares by the Participant on the date on which the Participant’s Service terminated, may be
exercised by the Participant at any time prior to the expiration of three (3) months after the date
on which the Participant’s Service terminated, but in any event no later than the Option Expiration
Date.

          7.2 Extension if Exercise Prevented by Law. Notwithstanding the foregoing, other than
termination of the Participant’s Service for Cause, if the exercise of the Option within the
applicable time periods set forth in Section 7.1 is prevented by the provisions of Section 4.6, the
Option shall remain exercisable until the later of (a) thirty (30) days after the date such
exercise first would no longer be prevented by such provisions, or (b) the end of the applicable
time period under Section 7.1, but in any event no later than the Option Expiration Date.

     8. Effect of Change in Control.

          In the event of a Change in Control, except to the extent that the Committee determines to
cash out the Option in accordance with Section 13.1(c) of the Plan, the surviving, continuing,
successor, or purchasing corporation or other business entity or parent thereof, as the case may be
(the “Acquiror”), may, without the consent of the Participant, assume or continue in full force and
effect the Company’s rights and obligations under all or any portion of the Option or substitute
for all or any portion of the Option a substantially equivalent option for the Acquiror’s stock.
For purposes of this Section, the Option or any portion thereof shall be deemed assumed if,
following the Change in Control, the Option confers the right to receive, subject to the terms and
conditions of the Plan and this Option Agreement, for each share of Stock subject to such portion
of the Option immediately prior to the Change in Control, the consideration (whether stock, cash,
other securities or property or a combination thereof) to which a holder of a share of Stock on the
effective date of the Change in Control was entitled; provided, however, that if such consideration
is not solely common stock of the Acquiror, the Committee may, with the consent of the Acquiror,
provide for the consideration to be received upon the exercise of the Option for each share of
Stock to consist solely of common stock of the Acquiror equal in Fair Market Value to the per share
consideration received by holders of Stock pursuant to the Change in Control. The Option shall
terminate and cease to be outstanding effective as of the time of consummation of the Change in
Control to the extent that the Option is neither assumed or continued by the Acquiror in connection
with the Change in Control nor exercised as of the time of the Change in Control.

     9. Adjustments for Changes in Capital Structure.

          Subject to any required action by the stockholders of the Company and the requirements of
Sections 409A and 424 of the Code to the extent applicable, in the event of any change in the Stock
effected without receipt of consideration by the Company, whether through merger, consolidation,
reorganization, reincorporation, recapitalization, reclassification, stock

8

 

dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of
shares, exchange of shares, or similar change in the capital structure of the Company, or in the
event of payment of a dividend or distribution to the stockholders of the Company in a form other
than Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of
shares of Stock, appropriate and proportionate adjustments shall be made in the number, Exercise
Price and kind of shares subject to the Option, in order to prevent dilution or enlargement of the
Participant’s rights under the Option. For purposes of the foregoing, conversion of any
convertible securities of the Company shall not be treated as “effected without receipt of
consideration by the Company.” Any fractional share resulting from an adjustment pursuant to this
Section shall be rounded down to the nearest whole number and the Exercise Price shall be rounded
up to the nearest whole cent. In no event may the Exercise Price be decreased to an amount less
than the par value, if any, of the stock subject to the Option. Such adjustments shall be
determined by the Committee, and its determination shall be final, binding and conclusive.

     10. Rights as a Stockholder, Director, Employee or Consultant.

          The Participant shall have no rights as a stockholder with respect to any shares covered by
the Option until the date of the issuance of the shares for which the Option has been exercised (as
evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer
agent of the Company). No adjustment shall be made for dividends, distributions or other rights
for which the record date is prior to the date the shares are issued, except as provided in Section
9. If the Participant is an Employee, the Participant understands and acknowledges that, except as
otherwise provided in a separate, written employment agreement between a Participating Company and
the Participant, the Participant’s employment is “at will” and is for no specified term. Nothing
in this Option Agreement shall confer upon the Participant any right to continue in the Service of
a Participating Company or interfere in any way with any right of the Participating Company Group
to terminate the Participant’s Service as a Director, an Employee or Consultant, as the case may
be, at any time.

     11. Unvested Share Repurchase Option.

          11.1 Grant of Unvested Share Repurchase Option. In the event the Participant’s Service is
terminated for any reason or no reason, with or without cause, or, if the Participant, the
Participant’s legal representative, or other holder of shares acquired pursuant to this Agreement,
attempts to sell, exchange, transfer, pledge, or otherwise dispose of (other than pursuant to an
Ownership Change Event) any Unvested Shares, as defined in Section 11.2 below (the “Unvested
Shares”), the Company shall have the right to repurchase the Unvested Shares under the terms and
subject to the conditions set forth in this Section 11 (the “Unvested Share Repurchase Option”).

          11.2 Unvested Shares Defined. The “Unvested Shares” shall mean, on any given date, the number
of shares of Stock acquired upon exercise of the Option which exceed the Vested Shares determined
as of such date.

          11.3 Exercise of Unvested Share Repurchase Option. The Company may exercise the Unvested
Share Repurchase Option by written notice to the Participant within sixty

9

 

(60) days after (a) termination of the Participant’s Service or (b) the Company has received
notice of the attempted disposition of Unvested Shares. If the Company fails to give notice within
such sixty (60) day period, the Unvested Share Repurchase Option shall terminate unless the Company
and the Participant have extended the time for the exercise of the Unvested Share Repurchase
Option. Notwithstanding the preceding sentence, the period during which the Company may exercise
the Unvested Share Repurchase Option shall terminate no sooner than the completion of a period of
eight (8) months following the date on which the Participant acquired the Unvested Shares upon
exercise of the Option. The Unvested Share Repurchase Option must be exercised, if at all, for all
of the Unvested Shares, except as the Company and the Participant otherwise agree.

          11.4 Payment for Shares and Return of Shares to Company. The purchase price per share being
repurchased by the Company (the “Repurchase
Price”) shall be an amount equal to the Participant’s
original cost per share, as adjusted pursuant to Section 9. The Company shall pay the aggregate
Repurchase Price to the Participant in cash within thirty (30) days after the date of the written
notice to the Participant of the Company’s exercise of the Unvested Share Repurchase Option. For
purposes of the foregoing, cancellation of any purchase money indebtedness of the Participant to
any Participating Company for the shares shall be treated as payment to the Participant in cash to
the extent of the unpaid principal and any accrued interest canceled. The shares being repurchased
shall be delivered to the Company by the Participant at the same time as the delivery of the
Repurchase Price to the Participant.

          11.5 Assignment of Unvested Share Repurchase Option. The Company shall have the right to
assign the Unvested Share Repurchase Option at any time, whether or not such option is then
exercisable, to one or more persons as may be selected by the Company.

          11.6 Ownership Change Event. Upon the occurrence of an Ownership Change Event, any and all
new, substituted or additional securities or other property to which the Participant is entitled by
reason of the Participant’s ownership of Unvested Shares shall be immediately subject to the
Unvested Share Repurchase Option and included in the terms “Stock” and “Unvested Shares” for all
purposes of the Unvested Share Repurchase Option with the same force and effect as the Unvested
Shares immediately prior to the Ownership Change Event. While the aggregate Repurchase Price shall
remain the same after such Ownership Change Event, the Repurchase Price per Unvested Share upon
exercise of the Unvested Share Repurchase Option following such Ownership Change Event shall be
adjusted as appropriate.

     12. Escrow.

          12.1 Appointment of Agent. To ensure that shares subject to the Unvested Share Repurchase
Option will be available for repurchase, the Participant and the Company hereby appoint the
Secretary of the Company, or any other person designated by the Company, as their agent and as
attorney-in-fact for the Participant (the “Agent”) to hold any and all Unvested Shares and to sell,
assign and transfer to the Company any such Unvested Shares repurchased by the Company pursuant to
the Unvested Share Repurchase Option. The Participant understands that appointment of the Agent is
a material inducement to make this Agreement and that such appointment is coupled with an interest
and is irrevocable. The Agent shall not be personally liable for any act the Agent may do or omit
to do hereunder as escrow

10

 

agent, agent for the Company, or attorney in fact for the Participant while acting in good
faith and in the exercise of the Agent’s own good judgment, and any act done or omitted by the
Agent pursuant to the advice of the Agent’s own attorneys shall be conclusive evidence of such good
faith. The Agent may rely upon any letter, notice or other document executed by any signature
purporting to be genuine and may resign at any time.

          12.2 Establishment of Escrow. The Participant authorizes the Company to deposit the Unvested
Shares with the Company’s transfer agent to be held in book entry form, as provided by Section 4.5,
and the Participant agrees to deliver to and deposit with the Agent each certificate, if any,
evidencing the Unvested Shares and an Assignment Separate from Certificate with respect to such
book entry shares and each such certificate duly endorsed (with date and number of shares blank) in
the form attached to this Agreement, to be held by the Agent under the terms and conditions of this
Section (the “Escrow”). Upon the occurrence of an Ownership Change Event, a dividend or
distribution to the stockholders of the Company paid in shares of Stock or other property (other
than regular, periodic dividends paid on Stock pursuant to the Company’s dividend policy), or any
other adjustment upon a change in the capital structure of the Company, any and all new,
substituted or additional securities or other property to which the Participant is entitled by
reason of his or her ownership of the shares that remain, following such Ownership Change Event,
dividend, distribution or change, subject to the Unvested Share Repurchase Option shall be
immediately subject to the Escrow to the same extent as the shares immediately before such event.
The Company shall bear the expenses of the Escrow.

          12.3 Delivery of Shares to Participant. The Escrow shall continue with respect to any shares
for so long as such shares remain subject to the Unvested Share Repurchase Option. Upon
termination of the Unvested Share Repurchase Option with respect to shares, the Company shall so
notify the Agent and direct the Agent to deliver such number of shares to the Participant. As soon
as practicable after receipt of such notice, the Agent shall cause to be delivered to the
Participant the shares specified by such notice, and the Escrow shall terminate with respect to
such shares.

          12.4 Notices and Payments. In the event the shares and any other property held in escrow are
subject to the Company’s exercise of the Unvested Share Repurchase Option, the notice required to
be given to the Participant shall be given to the Agent, and any payment required to be given to
the Participant shall be given to the Agent. Within thirty (30) days after payment by the Company,
the Agent shall deliver the shares and any other property which the Company has purchased to the
Company and shall deliver the payment received from the Company to the Participant.

     13. Notice of Sales Upon Disqualifying Disposition.

          The Participant shall dispose of the shares acquired pursuant to the Option only in accordance
with the provisions of this Option Agreement. In addition, if the Grant Notice designates this
Option as an Incentive Stock Option, the Participant shall (a) promptly notify the Chief Financial
Officer of the Company if the Participant disposes of any of the shares acquired pursuant to the
Option within one (1) year after the date the Participant exercises all or part of the Option or
within two (2) years after the Date of Grant and (b) provide the Company with a description of the
circumstances of such disposition. Until such time as the Participant disposes

11

 

of such shares in a manner consistent with the provisions of this Option Agreement, unless
otherwise expressly authorized by the Company, the Participant shall hold all shares acquired
pursuant to the Option in the Participant’s name (and not in the name of any nominee) for the
one-year period immediately after the exercise of the Option and the two-year period immediately
after Date of Grant. At any time during the one-year or two-year periods set forth above, the
Company may place a legend on any certificate representing shares acquired pursuant to the Option
requesting the transfer agent for the Company’s stock to notify the Company of any such transfers.
The obligation of the Participant to notify the Company of any such transfer shall continue
notwithstanding that a legend has been placed on the certificate pursuant to the preceding
sentence.

     14. Legends.

          The Company may at any time place legends referencing the Unvested Share Repurchase Option and
any applicable federal, state or foreign securities law restrictions on all certificates
representing shares of stock subject to the provisions of this Option Agreement. The Participant
shall, at the request of the Company, promptly present to the Company any and all certificates
representing shares acquired pursuant to the Option in the possession of the Participant in order
to carry out the provisions of this Section. Unless otherwise specified by the Company, legends
placed on such certificates may include, but shall not be limited to, the following:

	 	14.1	 	“THE SHARES EVIDENCED BY THIS CERTIFICATE WERE ISSUED BY THE
CORPORATION TO THE REGISTERED HOLDER UPON EXERCISE OF AN INCENTIVE STOCK OPTION
AS DEFINED IN SECTION 422 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
(“ISO”). IN ORDER TO OBTAIN THE PREFERENTIAL TAX TREATMENT AFFORDED TO ISOs,
THE SHARES SHOULD NOT BE TRANSFERRED PRIOR TO [INSERT DISQUALIFYING DISPOSITION
DATE HERE]. SHOULD THE REGISTERED HOLDER ELECT TO TRANSFER ANY OF THE SHARES
PRIOR TO THIS DATE AND FOREGO ISO TAX TREATMENT, THE TRANSFER AGENT FOR THE
SHARES SHALL NOTIFY THE CORPORATION IMMEDIATELY. THE REGISTERED HOLDER SHALL
HOLD ALL SHARES PURCHASED UNDER THE INCENTIVE STOCK OPTION IN THE REGISTERED
HOLDER’S NAME (AND NOT IN THE NAME OF ANY NOMINEE) PRIOR TO THIS DATE OR UNTIL
TRANSFERRED AS DESCRIBED ABOVE.”
	 
	 	14.2	 	“THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
CERTAIN RESTRICTIONS ON TRANSFER AND REPURCHASE OPTIONS IN FAVOR OF THE
CORPORATION OR ITS ASSIGNEE SET FORTH IN AN AGREEMENT BETWEEN THE CORPORATION
AND THE REGISTERED HOLDER, OR SUCH HOLDER’ S PREDECESSOR IN INTEREST,
A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THIS CORPORATION.”

12

 

     15. Miscellaneous Provisions.

          15.1 Termination or Amendment. The Committee may terminate or amend the Plan or the Option at
any time; provided, however, that except as provided in Section 8 in connection with a Change in
Control, no such termination or amendment may adversely affect the Option or any unexercised
portion hereof without the consent of the Participant unless such termination or amendment is
necessary to comply with any applicable law or government regulation. No amendment or addition to
this Option Agreement shall be effective unless in writing.

          15.2 Further Instruments. The parties hereto agree to execute such further instruments and to
take such further action as may reasonably be necessary to carry out the intent of this Option
Agreement.

          15.3 Binding Effect. This Option Agreement shall inure to the benefit of the successors and
assigns of the Company and, subject to the restrictions on transfer set forth herein, be binding
upon the Participant and the Participant’s heirs, executors, administrators, successors and
assigns.

          15.4 Delivery of Documents and Notices. Any document relating to participation in the Plan or
any notice required or permitted hereunder shall be given in writing and shall be deemed
effectively given (except to the extent that this Option Agreement provides for effectiveness only
upon actual receipt of such notice) upon personal delivery, electronic delivery at the e-mail
address, if any, provided for the Participant by a Participating Company, or upon deposit in the
U.S. Post Office or foreign postal service, by registered or certified mail, or with a nationally
recognized overnight courier service, with postage and fees prepaid, addressed to the other party
at the address of such party set forth in the Grant Notice or at such other address as such party
may designate in writing from time to time to the other party.

               (a) Description of Electronic Delivery. The Plan documents, which may include but do not
necessarily include: the Plan, the Grant Notice, this Option Agreement, the Plan Prospectus, and
any reports of the Company provided generally to the Company’s stockholders, may be delivered to
the Participant electronically. In addition, if permitted by the Company, the Participant may
deliver electronically the Grant Notice and Exercise Notice called for by Section 4.2 to the
Company or to such third party involved in administering the Plan as the Company may designate from
time to time. Such means of electronic delivery may include but do not necessarily include the
delivery of a link to a Company intranet or the Internet site of a third party involved in
administering the Plan, the delivery of the document via e-mail or such other means of electronic
delivery specified by the Company.

               (b) Consent to Electronic Delivery. The Participant acknowledges that the Participant has
read Section 15.4(a) of this Option Agreement and consents to the electronic delivery of the Plan
documents and, if permitted by the Company, the delivery of the Grant Notice, Exercise Notice and
Notices in connection with the Escrow, as described in Section 15.4(a). The Participant
acknowledges that he or she may receive from the Company a paper copy of any documents delivered
electronically at no cost to the Participant by contacting the Company by telephone or in writing.
The Participant further acknowledges that the

13

 

Participant will be provided with a paper copy of any documents if the attempted electronic
delivery of such documents fails. Similarly, the Participant understands that the Participant must
provide the Company or any designated third party administrator with a paper copy of any documents
if the attempted electronic delivery of such documents fails. The Participant may revoke his or
her consent to the electronic delivery of documents described in Section 15.4(a) or may change the
electronic mail address to which such documents are to be delivered (if Participant has provided an
electronic mail address) at any time by notifying the Company of such revoked consent or revised
e-mail address by telephone, postal service or electronic mail. Finally, the Participant
understands that he or she is not required to consent to electronic delivery of documents described
in Section 15.4(a).

          15.5 Integrated Agreement. The Grant Notice, this Option Agreement and the Plan, together
with any employment, service or other agreement between the Participant and a Participating Company
referring to the Option, shall constitute the entire understanding and agreement of the Participant
and the Participating Company Group with respect to the subject matter contained herein or therein
and supersede any prior agreements, understandings, restrictions, representations, or warranties
among the Participant and the Participating Company Group with respect to such subject matter. To
the extent contemplated herein or therein, the provisions of the Grant Notice, the Option Agreement
and the Plan shall survive any exercise of the Option and shall remain in full force and effect.

          15.6 Applicable Law. Except to the extent governed by applicable federal law, the validity,
interpretation, construction and performance of this Option Agreement shall be governed by the laws
of the State of California as such laws are applied to agreements between California residents
entered into and to be performed entirely within the State of California.

          15.7 Counterparts. The Grant Notice may be executed in counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument.

14

 

			
	TM Incentive Stock Option
	 	Participant:                        
	TM Nonstatutory Stock Option
	 	Date:                     

STOCK OPTION EXERCISE NOTICE

(Immediately Exercisable)

REVA Medical, Inc.

Ladies and Gentlemen:

     1. Option. I was granted an option (the “Option”) to purchase shares of the common
stock (the “Shares”) of REVA Medical, Inc. (the “Company”) pursuant to the Company’s 2010 Equity
Incentive Plan (the “Plan”), my Notice of Grant of Stock Option (the “Grant Notice”) and my Stock
Option Agreement (the “Option Agreement”) as follows:

	 	 	 

	          Date of Grant:

	 	                                        
	 
	 	 
	          Number of Option Shares:

	 	                                        
	 
	 	 
	          Exercise Price per Share:

	 	$                                      

     2. Exercise of Option. I hereby elect to exercise the Option to purchase the
following number of Shares, in accordance with the Grant Notice and the Option Agreement:

	 	 	 

	          Vested Shares:

	 	                                        
	 
	 	 
	          Unvested Shares:

	 	                                        
	 
	 	 
	          Total Shares Purchased:

	 	                                        
	 
	 	 
	          Total Exercise Price (Total Shares X Price per Share)

	 	$                                     

     3. Payments. I enclose payment in full of the total exercise price for the Shares in
the following form(s), as authorized by my Option Agreement:

	 	 	 

	          TM Cash:

	 	$                                        
	 
	 	 
	          TM Check:

	 	$                                        
	 
	 	 
	          TM Cashless Exercise:

	 	Contact Plan Administrator
	 
	 	 
	          TM Net Exercise:

	 	Contact Plan Administrator
	 
	 	 
	          TM Stock Tender Exercise:

	 	Contact Plan Administrator

     4. Tax Withholding. . If I am exercising a Nonstatutory Stock Option, I authorize
payroll withholding and otherwise will make adequate provision for the federal, state, local and
foreign tax withholding obligations of the Company, if any, in connection with my exercise of the
Option. (Contact Plan Administrator for amount of tax due.)

 

 

     5. Participant Information.

	 	 	 	My address is: 

 

 

	 
	 	 	 	My Social Security Number is:
 

     6. Notice of Disqualifying Disposition. If the Option is an Incentive Stock Option, I
agree that I will promptly notify the Chief Financial Officer of the Company if I transfer any of
the Shares within one (1) year from the date I exercise all or part of the Option or within two (2)
years of the Date of Grant.

     7. Binding Effect. I agree that the Shares are being acquired in accordance with and
subject to the terms, provisions and conditions of the Grant Notice, the Option Agreement,
including the Unvested Share Repurchase Option set forth therein, and the Plan, to all of which I
hereby expressly assent. This Agreement shall inure to the benefit of and be binding upon my
heirs, executors, administrators, successors and assigns. If required by the Company, I agree to
deposit the certificate(s) evidencing the Shares, along with a blank stock assignment separate from
certificate executed by me, with an escrow agent designated by the Company, to be held pursuant to
the escrow provisions contained in the Option Agreement.

     8. Election Under Section 83(b) of the Code. I understand and acknowledge that if I
am exercising the Option to purchase Unvested Shares (i.e., shares that remain subject to the
Company’s Unvested Share Repurchase Option), that I should consult with my tax advisor regarding
the advisability of filing with the Internal Revenue Service an election under Section 83(b) of the
Code, which must be filed, if at all, no later than thirty (30) days after the date on which I
exercise the Option. I acknowledge that I have been advised to consult with a tax advisor prior to
the exercise of the Option regarding the tax consequences to me of exercising the Option and filing
or not filing an election under Section 83(b). AN ELECTION UNDER SECTION 83(b) MUST BE FILED, IF
AT ALL, WITHIN 30 DAYS AFTER THE DATE ON WHICH I PURCHASE SHARES. THIS TIME PERIOD CANNOT BE
EXTENDED. I ACKNOWLEDGE THAT TIMELY FILING OF A SECTION 83(b) ELECTION, IF APPROPRIATE, IS MY SOLE
RESPONSIBILITY, EVEN IF I REQUEST THE COMPANY OR ITS REPRESENTATIVES TO FILE SUCH ELECTION ON MY
BEHALF.

	 	 	 	 	 
	 	Very truly yours,

 	 
	 	  	 	 
	 	 	(Signature) 	 
	 	 	 	 
	 

	 	 	 	 	 
	Receipt of the above is hereby acknowledged.

REVA MEDICAL, INC.

 	 	 
	By:  	 	 	 
	 	Name: 	 	 	 	 
	 	Title:  	 	 	 
	 	Dated:  	 	 	 	 

2

 

	 	 	 	 	 

ASSIGNMENT SEPARATE FROM CERTIFICATE

     FOR VALUE RECEIVED the undersigned does hereby sell, assign and transfer unto                                                          
                                               
__________________________________________________________________________________ (_________________) shares of the
 Capital Stock of
Reva Medical, Inc. standing in the undersigned’s name on the books of said corporation represented
by Certificate No. __________________ herewith and does hereby irrevocably constitute and appoint
______________________ Attorney to transfer the said stock on the books of said corporation with
full power of substitution in the premises.

Dated:                                        

	 	 	 	 	 
	 	 	 
	 	  	 	 
	 	 	Signature 	 
	 	 	 	 
	 
	 	 	 
	 	  	 	 
	 	 	Print Name 	 
	 	 	 	 
	 

Instructions: Please do not fill in any blanks other than the signature line. The purpose
of this assignment is to enable the Company to exercise its Unvested Share Repurchase Option set
forth in the Stock Option Agreement without requiring additional signatures on the part of the
Participant.

3

 

REVA MEDICAL, INC.

NOTICE OF GRANT OF STOCK OPTION

(Immediately Exercisable)

REVA
Medical, Inc. (the “Company”)
has granted to the Participant an option (the “Option”) to
purchase certain shares of Stock of the Company pursuant to the REVA Medical, Inc. 2010 Equity
Incentive Plan (the “Plan”), as follows:

	 	 	 	 	 	 	 

	Participant:

	 	                                        
	 	Employee ID:                     

	 
	 	 	 	 	 	 
	Date of Grant:

	 	                                        	 	 	 	 
	 
	 	 	 	 	 	 
	Number of Option
Shares:	 	                                        , subject to adjustment as provided by the Option Agreement.
	 
	 	 	 	 	 	 
	Exercise Price:

	 	$                                        	 	 	 	 
	 
	 	 	 	 	 	 
	Initial Vesting Date:

	 	                                        	 	 	 	 
	 
	 	 	 	 	 	 
	Option Expiration Date:
	 	                                        	 	 	 	 
	 
	 	 	 	 	 	 
	Tax Status of Option:	 	                     Stock Option. (Enter “Incentive” or “Nonstatutory.” If blank, this Option will be a Nonstatutory Stock
Option.)
	 
	 	 	 	 	 	 
	Vested Shares:	 	Except as provided in the Option Agreement, the number of Vested Shares (disregarding any resulting fractional
share) as of any date is determined by multiplying the Number of
Option Shares by the “Vested Ratio”
determined as of such date as follows:
	 
	 	 	 	 	 	 
	 

	 	 	 	Vested Ratio

	 

	 	 	 	 
	 

	 	Prior to Initial Vesting Date
	 	 	0	 
	 
	 	 	 	 	 	 
	 

	 	On Initial Vesting Date, provided the Participant’s Service has not
terminated prior to such date 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Plus	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	For each additional full month of the Participant’s continuous Service
from Initial Vesting Date until the Vested Ratio equals 1/1, an
additional 	 	 	 	 

By their signatures below or by electronic acceptance or authentication in a form authorized by the
Company, the Company and the Participant agree that the Option is governed by this Grant Notice and
by the provisions of the Plan and the Option Agreement, both of which are made a part of this
document. The Participant represents that the Participant has read and is familiar with the
provisions of the Plan and the Option Agreement, and hereby accepts the Option subject to all of
their terms and conditions.

	 	 	 	 	 	 	 

	REVA MEDICAL, INC.

	 	PARTICIPANT
	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 

	 	[officer name]
	 	Signature	 	 
	 

	 	[officer title]	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Date	 	 
	Address:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Address	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 

	 	 	 

	ATTACHMENTS:

	 	2010 Equity Incentive Plan, as amended to the Grant Date; Option Agreement
(Immediately Exercisable); Exercise Notice; Assignment Separate from Certificate, and Plan
Prospectus

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