Document:

Letter Agreement and Release between MTC Tecnologies, Inc. and James Clark

 EXHIBIT 10.1 
 September 17, 2007 
 Mr. James Clark 
 4032
Linden Avenue 
 Dayton, Ohio 45342 
 Dear Jim: 
 The purpose of this letter is to confirm the compensation, benefits and other terms of the separation agreement between you and MTC Technologies, Inc. (“MTC”).
You and MTC agree as follows: 
  

	1.	As you and MTC have discussed, your intended retirement date is September 15, 2007. However, MTC has agreed to extend your actual separation from employment to be effective at
midnight on March 15, 2008 (“Separation Date”) in consideration of the covenants contained in paragraphs 4, 5, 6 and 7 of this letter and in lieu of paying a lump sum severance payment. 

  

	2.	The compensation and other benefits you are entitled to receive as a result of your separation are set out in paragraphs 2(a) through (h) below. 

  

	 	(a)	In accordance with MTC’s regular payroll schedule you will receive all earned but unpaid salary through September 15, 2007, plus your earned and unused vacation time as of
such date, less all applicable deductions and withholdings. You will receive no other consideration except as provided for, and subject to the conditions, in paragraph 3(a) of this letter. 

  

	 	(b)	Your health care coverage benefits through MTC will continue through the last day of the month in which your Separation Date occurs to the extent that you are enrolled in such
plans, including reimbursement of up to $800 for premiums paid for Tricare coverage in 2007. Beyond that date, your rights to continue eligible coverage under COBRA will be provided to you under separate cover. 

  

	 	(c)	After your Separation Date you will have several options available to you under MTC’s 401(k) plan. You are 100% vested in your 401(k) account and MTC’s match. You will be
provided with additional information regarding your 401(k) options and contact numbers. 

  

	 	(d)	Pursuant to the terms of the governing plan documents, your company-paid life insurance and accidental death and dismemberment insurance, short-term and long-term disability
coverage will terminate on your Separation Date. You will receive additional information about your option to continue (on a personal direct-pay basis) your life insurance, and any additional life coverage you may be carrying.

  

	 	(e)	MTC will reimburse you for any approved expense reimbursement requests filed for approved travel taken or other approved expenses incurred prior to your Separation Date.

  

	 	(f)	Subject to you making the required elections to continue participation, you may continue to participate in MTC’s 2007 Deferred Compensation Plan until your Separation Date, and
thereafter your account balance will be distributed in accordance with the plan provisions. 

	 	(g)	Any other benefits that you may be enrolled in will terminate (pursuant to the governing plan documents) as of your Separation Date, and you will receive additional information
regarding each such benefit. 

  

	 	(h)	All other perquisites that you may be receiving will terminate as of September 15, 2007. 

  

	 	(i)	MTC will maintain Directors and Officers liability insurance coverage that covers you for any liability arising from your performance of duties, in good faith, in the normal course
of business and within the proper scope of your employment duties and responsibilities with MTC. 

  

	3.	In addition to and notwithstanding the foregoing, based on your covenants in paragraphs 4, 5, 6 and 7 and the attached Release, and conditioned upon your execution of this letter
agreement and the attached Release, you will also receive: 

  

	 	(a)	After the expiration of the seven-day revocation period described in section 5(d) of the Release, severance pay equal to your current base salary, less all applicable withholdings
and deductions, for the period of September 16, 2007 through March 15, 2008. Such payments will be made on a semi-monthly basis in accordance with MTC’s normal payroll schedule and will be subject to all applicable withholdings and
deductions. 

  

	 	(b)	During the six-month period commencing September 16, 2007 and ending March 15, 2008 (the “Extended Severance Period”), you will have the right to
(i) participate in the Company’s 401(k) savings plan; (ii) participate in the MTC company-paid life insurance, accidental death and dismemberment insurance, short-term and long-term disability coverage; and (iii) continue the
medical and dental benefit coverages that you are currently enrolled in, subject to your payment of the monthly contribution required by active employees enrolled in the same coverage and the same tier. After March 31, 2008, continuation of
MTC’s health care coverage is subject to your election to participate in COBRA and the COBRA insurance coverage terms and conditions at your own full expense. 

  

	 	(c)	During the Extended Severance Period, you will have the right to use such MTC-provided cellular phones, computers and other tools as you were provided during your employment with
MTC. 

  

	 	(d)	Any stock option or other option to acquire Common Stock of MTC pursuant to the 2002 Equity and Performance Incentive Plan or the 2007 Equity Compensation Plan shall be extended to
September 14, 2008 notwithstanding the terms of any such stock option grant. 

  

	 	(e)	You will be entitled to participate in and receive any bonus or other annual incentive amount paid by MTC in accordance with any such goals and objectives established with respect
to calendar year 2007, such amount to be as determined by the Chief Executive Officer of MTC and as approved by the Compensation Committee of the Board of Directors of MTC in its sole discretion. 

  

	4.	You agree to make no criticism or negative statements about MTC, its management, its methods of operation, its role as corporate or community citizen, or its treatment of you and
agree not to encourage or aid any person or entity in the pursuit of any claim or cause of action against MTC, except as otherwise permitted by law. MTC agrees to make no criticism or negative statements about you, in regards to your employment at
MTC or otherwise, to any person or entity, and agrees not to encourage or aid any person or entity in the pursuit of any claim or cause of action against you, except as otherwise permitted or required by law. 

	5.	MTC recognizes, and you acknowledge, that you possess certain business and financial information about MTC’s operations, information about new or envisioned products or
services, product research, product specifications, records, plans, prices, costs, customer lists, concepts and ideas, and that MTC is the owner of proprietary rights in certain systems, methods, processes, procedures, technical and non-technical
information, research and other things which constitute valuable trade secrets of MTC. You acknowledge that MTC has a legitimate interest in protecting such confidential and proprietary information in order to maintain and enhance a competitive edge
within its industry. Accordingly, you agree that you will not use or remove, duplicate or disclose, directly or indirectly, to any persons or entities outside MTC any information or property that constitute trade secrets, which have not been
publicly disclosed. In the event that you are requested or required in a judicial, administrative or governmental proceeding to disclose any information that is the subject matter of this Paragraph 5, you will provide MTC with prompt written notice
of such request and all related proceedings so that MTC may seek an appropriate protective order or remedy or, as soon as practicable, waive your compliance with the provisions of this Paragraph 5. 

  

	6.	You expressly agree that, during the Extended Severance Period and for a period of two years thereafter, you will not, directly or indirectly, without the prior written consent of
MTC, whether as an individual, partner, joint venturer, employee, agent, salesperson, consultant, officer, independent contractor, or owner of any entity, or in any other capacity, alone or in association with, on behalf of, or for the benefit of,
any entity or other person, induce or attempt to induce any employee of MTC or any of its affiliates, to terminate his or her services with MTC or any of its affiliates, as applicable, or to discuss with any employee of MTC or any of its affiliates
the development or operation of any business intended to compete with the Business of MTC. “Business of MTC” shall mean the business of MTC during the Severance Period as described in its Annual Report on Form 10-K as filed with the
Securities and Exchange Commission from time to time. 

  

	7.	The parties agree that, upon reasonable request from MTC and for no additional compensation, you will provide accurate and truthful advice and information to MTC concerning matters
that arose during your employment with MTC and agree to respond to inquiries of MTC with respect to the transition of your duties and responsibilities to other employees of MTC. Any such inquiry will be at the direction of MTC’s President and
Chief Operating Officer and will only be requested during customary and reasonable business hours and will only be made with a 45-day period commencing on September 16, 2007. 

  

	8.	You also, upon MTC’s reasonable request, will assist and cooperate with it (at reasonable dates, places, and times) in any threatened or actual adversarial proceeding
(including, without limitation, mediation, arbitration, or any local, state, or federal agency, department, or court) involving MTC or any of its affiliates involving matters that occurred during your employment. MTC will reimburse you for any
documented wages lost (of one or more full work day(s)) from your then-current employment and reasonable travel and other incidental expenses incurred in assisting MTC pursuant to this section 8, provided, however, that if you are not employed at
the time or times your cooperation or assistance is provided, then MTC will pay you $800.00 for each whole day that your assistance or cooperation is provided. 

  

	9.	You expressly agree that, if there is a violation or threatened or intended violation of any of your promises contained in sections 5 and 6, MTC will be entitled, in addition to any
other remedies available to it, to obtain and enforce temporary restraining orders, preliminary injunctions, permanent injunctions, and orders enjoining or restraining such violation or threatened or intended violation, and you hereby consent to the
immediate issuance, without necessity of posting of bond, of any temporary restraining orders, preliminary injunctions, permanent injunctions, and orders in any court of competent jurisdiction. 

  

	10.	 On or before March 15, 2008, you will return to MTC’s Director of Security and Administration all Company Property issued to you or in your possession,
including, without limitation, all telephones, personal or laptop computers, Blackberry or similar devices, The term “Company property” includes, without limitation: correspondence, files, e-mails, memos, reports, minutes, plans, records,
surveys, software, confidential and proprietary software, diagrams, computer printouts, floppy disks, manuals, 

	 	 
customer documentation, or any other medium for storing information, and all copies and reproductions of the above-referenced items. If applicable, the
return of all Company property includes the complete and effective deletion of all MTC material on your personal computer upon receipt of your written representation as to such deletion. You further represent that no MTC documents have been copied
and or transferred in any manner and/or retained, whether in a computer or by paper or otherwise, by yourself or anyone else at your direction. The information contained in these documents will not be used by you (or any third party to whom you have
given such documents) for any purpose. 

  

	11.	This agreement is binding upon the parties, and their respective officers, directors, heirs, administrators, successors, representatives, executors, and assigns, and shall inure to
the benefit of the parties, and their respective successors, assigns, heirs, administrators, representatives, and executors. 

  

	12.	This agreement sets forth the entire agreement between you and MTC and completely supersedes any and all prior agreements or understandings, whether oral or written, between you and
MTC, and which you agree are enforceable and survive separation of your employment from MTC in accordance with the terms of this agreement, provided, however, that this agreement will not preclude the parties from entering into a future consulting
or employment agreement. 

  

	13.	This agreement shall be governed and construed according to the laws of the state of Ohio, without giving effect to any choice or conflict of law provision or rule (whether of the
state of Ohio or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the state of Ohio. You agree irrevocably submit to the jurisdiction of the federal or state courts located in the state of Ohio over
any dispute or proceeding arising out of or relating to this agreement. You also irrevocably agree that all claims respecting such disputes or proceedings will be heard and determined in such courts. You irrevocably waive, to the fullest extent
permitted by applicable law, any objection which you may now or later have to the laying of venue of such dispute proceeding brought in such court or any defense of inconvenient forum in connection with same. 

 Please indicate your acceptance of this agreement by signing the originals of this letter agreement and the attached Release in the spaces provided, and return the
executed originals to me. You may keep the enclosed duplicate for your records. 
  

			
	 MTC Technologies, Inc.

		
	By	 	 /s/ Penelope Viteo

		 	Penelope Viteo
		 	Vice President, Human Resources
	
	Agreed to and accepted:
		
		 	 /s/ James Clark

		 	James Clark

 Date: September 25, 2007 

 RELEASE 
 Reference is made to the agreement set out in that certain letter agreement dated September 17, 2007 from MTC Technologies, Inc. to James Clark (“Executive”). The Executive’s employment has been terminated in accordance
with such letter agreement (the “Agreement”) between MTC Technologies, Inc. (the “Company”) and the Executive. 
 The Executive is
required to sign this Release in order to obtain or retain certain benefits under the Agreement. 
 NOW THEREFORE, the Executive and the Company agree as
follows: 
  

	1.	Release in Full of All Claims. In exchange for the consideration set forth in the Agreement, the Executive, for himself, his agents, attorneys, heirs, administrators,
executors, assigns, and other representatives, and anyone acting or claiming on his or her or their joint or several behalf, and the Company and its officers, directors, agents, attorneys, successors, assigns, other representatives, and anyone
acting or claiming on its behalf, hereby release and forever discharge each other, including the Company’s past or present executives, officers, directors, trustees, board members, members, agents, affiliates, parent corporation(s),
subsidiaries, successors, assigns, and other representatives, and anyone acting on their joint or several behalf (the “Releasees”), from any and all known and unknown claims, causes of action, demands, damages, costs, expenses,
liabilities, or other losses that in any way arise from, grow out of, or are related to the Executive’s employment with the Company or any of its affiliates and subsidiaries or the termination thereof, including, without limitation, claims for
bonuses, commissions, fringe benefits and expense reimbursements. By way of example only and without limiting the immediately preceding sentence, the Executive agrees that he is releasing, waiving, and discharging any and all claims against the
Company and its Releasees under (a) any federal, state, or local employment law or statute, including, but not limited to Title VII of the Civil Rights Act(s) of 1964 and 1991, the Americans with Disabilities Act, the Age Discrimination in
Employment Act, the Older Workers’ Benefit Protection Act, applicable state civil rights law(s) or (b) any federal, state or municipal law, statute, ordinance or common law doctrine regarding (i) the existence or breach of oral or
written contracts of employment, (ii) negligent or intentional misrepresentations, (iii) promissory estoppel, (iv) interference with contract or employment, (v) defamation or damage to business or personal reputation,
(vi) assault and battery, (vii) negligent or intentional infliction of emotional distress, (viii) unlawful discharge in violation of public policy, (ix) discrimination, (x) retaliation, (xi) wrongful discharge,
(xii) harassment, (xiii) whistleblowing, or (xiv) breach of implied covenant of good faith. Notwithstanding the foregoing, the Executive will not give up his right (if any) to any benefits to which he is entitled under the Agreement
or under any tax-qualified retirement plan of the Company or the Company’s group life insurance plan, or his rights (if any) under Part 6 of Subtitle B of Title 1 of the Executive Retirement Income Security Act of 1974, as amended.
Notwithstanding the foregoing, nothing herein shall preclude Executive from filing a claim of discrimination with the United States Equal Employment Opportunity Commission. 

  

	2.	No Claims Filed. The Executive affirms that, as of the date of execution of this Release, he has filed no lawsuit, charge, claim or complaint with any governmental agency or
in any court against the Company or its Releasees, and is not aware of, or if aware, has disclosed to the Company’s Senior Vice President—General Counsel any circumstances which would provide grounds for filing any lawsuit, charge, claim
or complaint against the Company or its Releasees. 

  

	3.	 Assistance to Others. The Executive agrees not to assist or cooperate, in any way, directly or indirectly, with any person, entity or group (other than the
Equal Employment Opportunity Commission or other governmental agency) involved in any proceeding, inquiry or investigation of any kind or nature against or involving the Company or any of its Releasees, except as required by law, subpoena or other
compulsory process. Moreover, the Executive agrees that to the extent he or she is compelled to cooperate with such third parties, he or she shall disclose to the Company in advance that he or she intends to cooperate and shall disclose the manner
in which he or she intends to cooperate. Further, the Executive agrees that within three (3) days after 

	 	 
such cooperation, he or she will meet with representatives of the Company and disclose the information that he or she provided to the third party. This
subparagraph is to be broadly construed and is to include conversations, informal comments, confirmations, suggestions or advice of any type to third parties, their counsel or their advisors. Further, if the Executive is legally required to appear
or participate in any proceeding that involves or is brought against the Company or its Releasees, the Executive agrees to disclose to the Company in advance what he or she plans to say or produce and otherwise cooperate fully with the Company or
its Releasee. 

  

	4.	No Admission By Company. The Executive understands and acknowledges that the Company does not admit any violation of law, liability or contravention with respect to any of
his rights and that any such violation, liability or contravention is expressly denied. The consideration provided for in this Release and in the Agreement is made for the purpose of settling and extinguishing all claims and rights (and every other
similar or dissimilar matter) that the Executive ever had or now may have against the Company or its Releasees to the extent provided in Paragraph 1 of this Release. The Executive further agrees and acknowledges that no representations, promises or
inducements have been made by the Company other than as appear in the Agreement. The Executive and the Company further understand and agree that the Agreement shall not be admissible as evidence in any court or administrative proceeding, except that
either party may submit the Agreement to any appropriate forum in the event of an alleged breach of the Agreement or a claim by either party concerning the enforceability or interpretation of the Agreement. 

  

	5.	Additional Agreement. The Executive further agrees and acknowledges that: 

  

	 	(a)	The Release provided for herein releases claims and rights to the extent provided in Paragraph 1 of the Release up to and including the date of this Release but not any claims that
may arise after the date of this Release; 

  

	 	(b)	He has been advised by the Company to consult with legal counsel prior to executing this Release, has had an opportunity to consult with and to be advised by legal counsel of his or
her choice, fully understands the terms of this Release and enters into this Release freely, voluntarily and intending to be bound; 

  

	 	(c)	He has had a period of not less than 45 calendar days to review and consider the terms of this Release prior to its execution. At the beginning of the 45-day period, the Company
informed Employee, in writing as to: any class, unit, or group of individuals covered by the reduction in force (of which Executive’s termination from employment is a part), any applicable time limits, the job titles and ages of all individuals
eligible or selected for the reduction in force, and all individuals in the same job classification or organizational unit who are not eligible or selected for the reduction in force. Exhibit A sets out this information provided to Employee. The
Company provided this information to Employee in a way he could understand. 

  

	 	(d)	He may, within seven calendar days after execution, revoke this Release. Revocation will be made by delivering a written notice of revocation to the Company’s Senior Vice
President—General Counsel. For such revocation to be effective, written notice must be actually received by the Company no later than the close of business on the seventh calendar day after the Executive executes this Release. If the Executive
exercises his or her right to revoke this Release, all of the terms and conditions of the Release will be of no force and effect and the Company will not have any obligation to make payments or provide benefits to the Executive as set forth in
paragraph 3(a) through (d) of the Agreement. 

  

	6.	Reinstatement or Reemployment. The Executive hereby agrees that if the Executive applies for reinstatement or reemployment with the Company, neither the Company nor any of
its affiliates and subsidiaries shall incur any liability by virtue of its or their refusal to hire him or consider him for employment. 

	7.	Confidentiality. The Executive agrees that the terms and contents of this Release and the Agreement, and the contents of the negotiations and discussions resulting in this
Release, shall be maintained by Executive as confidential and shall not be disclosed to any third party, except for Executive’s legal or accounting advisors who are bound to maintain such information in confidentiality and except to the extent
as may be required to be disclosed by law. 

 IN WITNESS WHEREOF, the Executive has duly executed and delivered this Release on the date set
forth below. 
  

					
	 /s/ James Clark
	 		 	Dated: September 25, 2007
	 James Clark
	 		 	

 IN WITNESS WHEREOF, the Company has duly executed and delivered this Release as of the date set forth below.

  

			
	MTC Technologies, Inc.
		
	 By:
	 	 /s/ Bruce A. Teeters

		 	Bruce A. Teeters
		 	Sr. VP – General CounselFifth Amended and Restated Investor Rights Agreement

 Exhibit 4.3 
 MEMSIC, INC. 
 FIFTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 
 This Agreement dated as of December 22, 2006 is entered into by and among MEMSIC, Inc., a Delaware corporation (the
“Company”), Dr. Yang Zhao (the “Founder”), and the holders the Company’s Preferred Stock listed on the Schedule of Preferred Holders attached hereto as Exhibit A, together with
any subsequent Purchasers, or transferees, who become parties hereto as “Purchasers” pursuant to Sections 5 and 9.10 below (the “Purchasers” and each individually a “Purchaser” and
together with the Founder, the “Stockholders”). 
 Recitals 
 WHEREAS, the Company, the Founder and certain of the Purchasers are parties to a Fourth Amended and Restated Investor Rights Agreement dated as of
May 5, 2004 (the “Prior Investor Rights Agreement”); 
 WHEREAS, concurrently with the execution of this
Agreement, the Company and certain the Purchasers are entering into a Series D Convertible Preferred Stock Purchase Agreement (the “Purchase Agreement”) providing for the sale of shares of the Company’s Series D
Convertible Preferred Stock; and 
 WHEREAS, the Company and the Stockholders desire to amend and restate the Prior Investor Rights Agreement
in its entirety with the rights and privileges as set forth herein to provide for certain arrangements with respect to (i) the registration of shares of capital stock of the Company under the Securities Act of 1933, as amended and (ii) the
Stockholders’ right of first refusal with respect to certain issuances of securities of the Company. 
 NOW, THEREFORE, in consideration
of the mutual covenants contained herein and the consummation of the sale and purchase of the securities of the Company pursuant to the Purchase Agreement, and for other valuable consideration, receipt of which is hereby acknowledged, the parties
hereto agree as follows: 
 1. CERTAIN DEFINITIONS. 
 As used in this Agreement, the following terms shall have the following respective meanings: 
 1.1.
“Affiliate” means another Person who, directly or indirectly, controls, is controlled by or is under common control with such Person, including, without limitation, any partner, officer, director, member or employee of such
Person and any venture capital fund now or hereafter existing that is controlled by or under common control with one or more general partners or shares the same management company with such Person. 
 1.2. “Commission” means the Securities and Exchange Commission, or any other federal agency at the time administering the
Securities Act. 

 1.3. “Common Stock” means the common stock, $0.00001 par value per share, of the
Company. 
 1.4. “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. 
 1.5.
“Initiating Holders” means the Stockholders initiating a request for registration pursuant to Section 2.1(a) or 2.1(b), as the case may be. 
 1.6. “Initial Public Offering” means the initial underwritten public offering of shares of Common Stock pursuant to an effective
Registration Statement. 
 1.7. “Other Holders” shall have the meaning set forth in Section 2.1(d). 

1.8. “Person” means an individual, firm, corporation, partnership, association, limited liability company, trust or any other
entity. 
 1.9. “Prospectus” means the prospectus included in any Registration Statement, as amended or supplemented
by an amendment or prospectus supplement, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus. 
 1.10. “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). 
 1.11. “Registration Expenses” means the expenses
described in Section 2.4. 
 1.12. “Registrable Shares” means the shares of Common Stock that are owned
from time to time by a Stockholder; and such shares of Common Stock that are transferred by a Stockholder in compliance with Section 4 of this Agreement; provided, however, that shares of Common Stock which are Registrable
Shares shall cease to be Registrable Shares upon any sale pursuant to a Registration Statement or Rule 144 under the Securities Act. Wherever reference is made in this Agreement to a request or consent of holders of a certain percentage of
Registrable Shares, the determination of such percentage shall include shares of Common Stock issuable upon conversion of the Shares whether or not the Shares have been converted. 
 1.13. “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. 
 1.14. “Selling
Stockholder” means any Stockholder owning Registrable Shares included in a Registration Statement. 
  

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 1.15. “Shares” means shares of Series A Convertible Preferred Stock, par value
$0.01 per share, shares of Series B Convertible Preferred Stock, par value $0.01 per share, shares of Series C Convertible Preferred Stock, par value $0.01 per share, and shares of Series D Convertible Preferred Stock, par value $0.01 per share, of
the Company. 
 2. REGISTRATION RIGHTS. 
 2.1. Required Registrations. 
 (a) At any time after the earlier of (x) December 31, 2007 or (y) six months
after the closing of the Initial Public Offering, a Stockholder or Stockholders holding in the aggregate at least 30% of the outstanding Registrable Shares may request, in writing, that the Company effect the registration on Form S-1 or Form S-2 (or
any successor form) of Registrable Shares owned by such Stockholder or Stockholders having an aggregate value of at least $5,000,000 (based on the then current market price or fair value). Dr. Yang Zhao shall not be considered a Stockholder for
purposes of this Section 2.1 only. 
 (b) At any time after the Company becomes eligible to file a Registration Statement on Form
S-3 (or any successor form relating to secondary offerings), a Stockholder or Stockholders holding Registrable Shares may request, in writing, that the Company effect the registration on Form S-3 (or such successor form), of Registrable Shares
having an aggregate value of at least $1,000,000 (based on the then current public market price). 
 (c) Upon receipt of any request for
registration pursuant to this Section 2.1, the Company shall promptly give written notice of such proposed registration to all other Stockholders. Such Stockholders shall have the right, by giving written notice to the Company within 30
days after the Company provides its notice, to elect to have included in such registration such of their Registrable Shares as such Stockholders may request in such notice of election, subject in the case of an underwritten offering to the approval
of the managing underwriter as provided in Section 2.1(d) below. Thereupon, the Company shall, as expeditiously as possible, use its best efforts to effect the registration on an appropriate registration form of all Registrable Shares
which the Company has been requested to so register (provided, however, that in the case of a registration requested under Section 2.1(b), the Company will only be obligated to effect such registration on Form S-3 (or any successor
form)). 
 (d) If Initiating Holders intend to distribute the Registrable Shares covered by their request by means of an underwriting, they
shall so advise the Company as a part of their request made pursuant to Section 2.1(a) or 2.1(b), as the case may be, and the Company shall include such information in its written notice referred to in Section 2.1(c). The
right of any other Stockholder to include its Registrable Shares in such registration pursuant to Section 2.1(a) or 2.1(b), as the case may be, shall be conditioned upon such other Stockholder’s participation in such underwriting on the
terms set forth herein. 
 (e) If the Company desires that any officers or directors of the Company holding securities of the Company be
included in any registration for an underwritten offering requested pursuant to Section 2.1(d) or if other holders of securities of the Company who 

  

 - 3 - 

 
are entitled, by contract with the Company, to have securities included in such a registration (the “Other Holders”) request such
inclusion, the Company may include the securities of such officers, directors and Other Holders in such registration and underwriting on the terms set forth herein. The Company shall (together with all Stockholders, officers, directors and Other
Holders proposing to distribute their securities through such underwriting) enter into an underwriting agreement in customary form (including, without limitation, customary indemnification and contribution provisions on the part of the Company) with
the managing underwriter; provided that such underwriting agreement shall not provide for indemnification or contribution obligations on the part of Stockholders materially greater than the obligations of the Stockholders pursuant to
Section 2.5. Notwithstanding any other provision of this Section 2.1(e), if the managing underwriter advises the Company that the inclusion of all shares requested to be registered would adversely affect the offering, the
securities of the Company held by officers or directors of the Company (other than Registrable Shares) and the securities held by Other Holders (other than Registrable Shares) shall be excluded from such registration and underwriting to the extent
deemed advisable by the managing underwriter, and if a further limitation of the number of shares is required, the number of shares that may be included in such registration and underwriting shall be allocated among all holders of Registrable Shares
requesting registration in proportion, as nearly as practicable, to the respective number of Registrable Shares held by them at the time of the request for registration made by the Initiating Holders pursuant to Section 2.1(a) or 2.1(b),
as the case may be. If any holder of Registrable Shares, officer, director or Other Holder who has requested inclusion in such registration as provided above disapproves of the terms of the underwriting, such person may elect to withdraw therefrom
by written notice to the Company, and the securities so withdrawn shall also be withdrawn from registration. If the managing underwriter has not limited the number of Registrable Shares or other securities to be underwritten, the Company may include
securities for its own account in such registration if the managing underwriter so agrees and if the number of Registrable Shares and other securities which would otherwise have been included in such registration and underwriting will not thereby be
limited. 
 (f) The Initiating Holders shall have the right to select the managing underwriter(s) for any underwritten offering requested
pursuant to Section 2.1(a) or 2.1(b), subject to the approval of the Company, which approval will not be unreasonably withheld. 
 (g) The Company shall not be required to effect more than two registrations pursuant to Section 2.1(a), nor shall the Company be required to effect more than two registrations pursuant to Section 2.1(b) within any
twelve month period. In addition, the Company shall not be required to effect any registration (other than on Form S-3 or any successor form relating to secondary offerings) within six months after the effective date of any other Registration
Statement of the Company. For purposes of this Section 2.1(g), a Registration Statement shall not be counted until such time as such Registration Statement has been declared effective by the Commission (unless the Initiating Holders
withdraw their request for such registration (other than as a result of information concerning the business or financial condition of the Company which is made known to the Initiating Holders after the date on which such registration was requested)
and elect not to pay the Registration Expenses therefor pursuant to Section 2.4). 
 (h) If at the time of any request to
register Registrable Shares by Initiating Holders pursuant to this Section 2.1, the Company is engaged or has plans to engage in a registered public offering or is engaged in any other activity which, in the good 

  

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faith determination of the Company’s Board of Directors, would be adversely affected by the requested registration, then the Company may at its option
direct that such request be delayed for a period not in excess of 45 days from the date of such request, such right to delay a request to be exercised by the Company not more than twice in any 12-month period. 
 2.2. Incidental Registration. 
 (a)
Whenever the Company proposes to file a Registration Statement (other than a Registration Statement filed pursuant to Section 2.1) at any time and from time to time, it will, prior to such filing, give written notice to all Stockholders
of its intention to do so; provided, that no such notice need be given if no Registrable Shares are to be included therein as a result of a determination of the managing underwriter pursuant to Section 2.2(b). Upon the written
request of a Stockholder or Stockholders given within 20 days after the Company provides such notice (which request shall state the intended method of disposition of such Registrable Shares), the Company shall use its best efforts to cause all
Registrable Shares which the Company has been requested by such Stockholder or Stockholders to register to be registered under the Securities Act to the extent necessary to permit their sale or other disposition in accordance with the intended
methods of distribution specified in the request of such Stockholder or Stockholders; provided that the Company shall have the right to postpone or withdraw any registration effected pursuant to this Section 2.2 without obligation to any
Stockholder. 
 (b) If the registration for which the Company gives notice pursuant to Section 2.2(a) is a registered public
offering involving an underwriting, the Company shall so advise the Stockholders as a part of the written notice given pursuant to Section 2.2(a). In such event, the right of any Stockholder to include its Registrable Shares in such
registration pursuant to this Section 2.2 shall be conditioned upon such Stockholder’s participation in such underwriting on the terms set forth herein. All Stockholders proposing to distribute their securities through such
underwriting shall (together with the Company, Other Holders, and any officers or directors distributing their securities through such underwriting) enter into an underwriting agreement in customary form with the underwriter or underwriters selected
for the underwriting by the Company, provided that such underwriting agreement shall not provide for indemnification or contribution obligations on the part of Stockholders materially greater than the obligations of the Stockholders pursuant
to Section 2.5. Notwithstanding any other provision of this Section 2.2, if the managing underwriter determines that the inclusion of all shares requested to be registered would adversely affect the offering, the Company may
limit the number of Registrable Shares to be included in the registration and underwriting. The Company shall so advise all holders of Registrable Shares requesting registration, and the number of shares that are entitled to be included in the
registration and underwriting shall be allocated in the following manner. The securities of the Company held by Other Holders and by officers and directors of the Company (other than Registrable Shares) shall be excluded from such registration and
underwriting to the extent deemed advisable by the managing underwriter, and, if a further limitation on the number of shares is required, the number of shares that may be included in such registration and underwriting shall be allocated among all
Stockholders requesting registration in proportion, as nearly as practicable, to the respective number of shares of Common Stock (on an as-converted basis) which they held at the time the Company gives the notice specified in
Section 2.2(a), provided that the number of Registrable Shares permitted to be included therein shall in any 

  

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event be at least 25% of the aggregate amount of securities to be included therein (based on aggregate market values) except in the case of the Initial
Public Offering. If any Stockholder or Other Holder would thus be entitled to include more securities than such holder requested to be registered, the excess shall be allocated among other requesting Stockholders and Other Holders pro rata in the
manner described in the preceding sentence. If any holder of Registrable Shares or any officer, director or Other Holder disapproves of the terms of any such underwriting, such person may elect to withdraw therefrom by written notice to the Company,
and any Registrable Shares or other securities excluded or withdrawn from such underwriting shall be withdrawn from such registration. 
 2.3. Registration Procedures. 
 (a) If and whenever the Company is required by the provisions of this Agreement to use its
best efforts to effect the registration of any Registrable Shares under the Securities Act, the Company shall: 
 (i) file with the
Commission a Registration Statement with respect to such Registrable Shares and use its best efforts to cause that Registration Statement to become effective as soon as possible; 
 (ii) as expeditiously as possible prepare and file with the Commission any amendments and supplements to the Registration Statement and the prospectus
included in the Registration Statement as may be necessary to comply with the provisions of the Securities Act (including the anti-fraud provisions thereof) and to keep the Registration Statement effective for 12 months from the effective date or
such lesser period until all such Registrable Shares are sold; 
 (iii) as expeditiously as possible furnish to each Selling Stockholder
such reasonable numbers of copies of the Prospectus, including any preliminary Prospectus, in conformity with the requirements of the Securities Act, and such other documents as such Selling Stockholder may reasonably request in order to facilitate
the public sale or other disposition of the Registrable Shares owned by such Selling Stockholder; 
 (iv) as expeditiously as possible use
its best efforts to register or qualify the Registrable Shares covered by the Registration Statement under the securities or Blue Sky laws of such states as the Selling Stockholders shall reasonably request, and do any and all other acts and things
that may be necessary or desirable to enable the Selling Stockholders to consummate the public sale or other disposition in such states of the Registrable Shares owned by the Selling Stockholder; provided, however, that the Company shall not
be required in connection with this paragraph (iv) to qualify as a foreign corporation or execute a general consent to service of process in any jurisdiction; 
 (v) as expeditiously as possible, cause all such Registrable Shares to be listed on each securities exchange or automated quotation system on which
similar securities issued by the Company are then listed; 
  

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 (vi) promptly provide a transfer agent and registrar for all such Registrable Shares not later than the
effective date of such registration statement; 
 (vii) promptly make available for inspection by the Selling Stockholders, any managing
underwriter participating in any disposition pursuant to such Registration Statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the Selling Stockholders, all financial and other records, pertinent
corporate documents and properties of the Company and cause the Company’s officers, directors, employees and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent
in connection with such Registration Statement; 
 (viii) as expeditiously as possible, notify each Selling Stockholder, promptly after it
shall receive notice thereof, of the time when such Registration Statement has become effective or a supplement to any Prospectus forming a part of such Registration Statement has been filed; and 
 (ix) as expeditiously as possible following the effectiveness of such Registration Statement, notify each Selling Stockholder of any request by the
Commission for the amending or supplementing of such Registration Statement or Prospectus. 
 (b) If the Company has delivered a Prospectus
to the Selling Stockholders and after having done so the Prospectus is amended to comply with the requirements of the Securities Act, the Company shall promptly notify the Selling Stockholders and, if requested, the Selling Stockholders shall
immediately cease making offers of Registrable Shares and return all Prospectuses to the Company. The Company shall promptly provide the Selling Stockholders with revised Prospectuses and, following receipt of the revised Prospectuses, the Selling
Stockholders shall be free to resume making offers of the Registrable Shares. 
 (c) In the event that, in the judgment of the Company, it is
advisable to suspend use of a Prospectus included in a Registration Statement due to pending material developments or other events that have not yet been publicly disclosed and as to which the Company believes public disclosure would be detrimental
to the Company, the Company shall notify all Selling Stockholders to such effect, and, upon receipt of such notice, each such Selling Stockholder shall immediately discontinue any sales of Registrable Shares pursuant to such Registration Statement
until such Selling Stockholder has received copies of a supplemented or amended Prospectus or until such Selling Stockholder is advised in writing by the Company that the then current Prospectus may be used and has received copies of any additional
or supplemental filings that are incorporated or deemed incorporated by reference in such Prospectus. Notwithstanding anything to the contrary herein, the Company shall not exercise its rights under this Section 2.3(c) to suspend sales
of Registrable Shares for a period in excess of 60 days in any 365-day period. 
 2.4. Allocation of Expenses. The Company will
pay all Registration Expenses for all registrations under this Agreement; provided, however, that if a registration under Section 2.1 is withdrawn at the request of the Initiating Holders (other than as a result 

  

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of information concerning the business or financial condition of the Company which is made known to the Initiating Holders after the date on which such
registration was requested) and if the Initiating Holders elect not to have such registration counted as a registration requested under Section 2.1, the requesting Stockholders shall pay the Registration Expenses of such registration pro
rata in accordance with the number of their Registrable Shares included in such registration. For purposes of this Section, the term “Registration Expenses” shall mean all expenses incurred by the Company in complying with
this Agreement, including, without limitation, all registration and filing fees, exchange listing fees, printing expenses, fees and expenses of counsel for the Company and up to $25,000 in fees and expenses of one outside counsel selected by the
Selling Stockholders to represent the Selling Stockholders, state Blue Sky fees and expenses, and the expense of any special audits incident to or required by any such registration, but excluding underwriting discounts, selling commissions and the
fees and expenses of Selling Stockholders’ own counsel (other than the counsel selected to represent all Selling Stockholders). 
 2.5.
Indemnification and Contribution. 
 (a) In the event of any registration of any of the Registrable Shares under the Securities
Act pursuant to this Agreement, the Company will indemnify and hold harmless the seller of such Registrable Shares, each underwriter of such Registrable Shares, and each other person, if any, who controls such seller or underwriter within the
meaning of the Securities Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which such seller, underwriter or controlling person may become subject under the Securities Act, the Exchange Act, state
securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any
Registration Statement under which such Registrable Shares were registered under the Securities Act, any preliminary prospectus or final prospectus contained in the Registration Statement, or any amendment or supplement to such Registration
Statement, or arise out of or are based upon the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and the Company will reimburse such seller, underwriter
and each such controlling person for any legal or any other expenses reasonably incurred by such seller, underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided,
however, that the Company will not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any untrue statement or omission made in such Registration Statement, preliminary
prospectus or prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by or on behalf of such seller, underwriter or controlling person specifically for use in the
preparation thereof. 
 (b) In the event of any registration of any of the Registrable Shares under the Securities Act pursuant to this
Agreement, each seller of Registrable Shares, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such
underwriter within the meaning of the Securities Act or the Exchange Act, against any losses, claims, damages or liabilities, joint or several, to which the Company, such directors and officers, underwriter or controlling person may become subject
under the Securities Act, Exchange Act, state 
  

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securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based
upon any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement under which such Registrable Shares were registered under the Securities Act, any preliminary prospectus or final prospectus contained
in the Registration Statement, or any amendment or supplement to the Registration Statement, or arise out of or are based upon any omission or alleged omission to state a material fact required to be stated therein or necessary to make the
statements therein not misleading, if the statement or omission was made in reliance upon and in conformity with information relating to such seller furnished in writing to the Company by or on behalf of such seller specifically for use in
connection with the preparation of such Registration Statement, prospectus, amendment or supplement; provided, however, that the obligations of a Stockholder hereunder shall be limited to an amount equal to the net proceeds to such
Stockholder of Registrable Shares sold in connection with such registration. 
 (c) Each party entitled to indemnification under this
Section 2.5 (the “Indemnified Party”) shall give notice to the party required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified Party has actual
knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom; provided, that counsel for the Indemnifying Party, who shall
conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld); and, provided, further, that the failure of any Indemnified Party to give notice as provided
herein shall not relieve the Indemnifying Party of its obligations under this Section except to the extent that the Indemnifying Party is adversely affected by such failure. The Indemnified Party may participate in such defense at such party’s
expense; provided, however, that the Indemnifying Party shall pay such expense if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests
between the Indemnified Party and any other party represented by such counsel in such proceeding; provided further that in no event shall the Indemnifying Party be required to pay the expenses of more than one law firm per jurisdiction as
counsel for the Indemnified Party. The Indemnifying Party also shall be responsible for the expenses of such defense if the Indemnifying Party does not elect to assume such defense. No Indemnifying Party, in the defense of any such claim or
litigation shall, except with the consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified
Party of a release from all liability in respect of such claim or litigation, and no Indemnified Party shall consent to entry of any judgment or settle such claim or litigation without the prior written consent of the Indemnifying Party, which
consent shall not be unreasonably withheld. 
 (d) In order to provide for just and equitable contribution in circumstances in which the
indemnification provided for in this Section 2.5 is due in accordance with its terms but for any reason is held to be unavailable to an Indemnified Party in respect to any losses, claims, damages and liabilities referred to herein, then
the Indemnifying Party shall, in lieu of indemnifying such Indemnified Party, contribute to the amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities to which such party may be subject in such
proportion as is appropriate to reflect the relative fault of the Company on the one hand and the Stockholders on the other in connection with the statements or omissions which resulted in such losses, claims, damages or 

  

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liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Stockholders shall be determined by reference
to, among other things, whether the untrue or alleged untrue statement of material fact related to information supplied by the Company or the Stockholders and the parties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission. The Company and the Stockholders agree that it would not be just and equitable if contribution pursuant to this Section 2.5 were determined by pro rata allocation or by any other method of
allocation which does not take account of the equitable considerations referred to above. Notwithstanding the provisions of this paragraph of Section 2.5, (a) in no case shall any one Stockholder be liable or responsible for any
amount in excess of the net proceeds received by such Stockholder from the offering of Registrable Shares and (b) the Company shall be liable and responsible for any amount in excess of such proceeds; provided, however, that 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. Any party entitled to contribution
will, promptly after receipt of notice of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party or parties under this Section, notify such party or parties
from whom contribution may be sought, but the omission so to notify such party or parties from whom contribution may be sought shall not relieve such party from any other obligation it or they may have thereunder or otherwise under this Section. No
party shall be liable for contribution with respect to any action, suit, proceeding or claim settled without its prior written consent, which consent shall not be unreasonably withheld. 
 2.6. Other Matters with Respect to Underwritten Offerings. In the event that Registrable Shares are sold pursuant to a Registration
Statement in an underwritten offering pursuant to Section 2.1, the Company agrees to (a) enter into an underwriting agreement containing customary representations and warranties with respect to the business and operations of the
Company and customary covenants and agreements to be performed by the Company, including without limitation customary provisions with respect to indemnification by the Company of the underwriters of such offering; (b) use its best efforts to
cause its legal counsel to render customary opinions to the underwriters and the Selling Stockholders with respect to the Registration Statement; and (c) use its best efforts to cause its independent public accounting firm to issue customary
“cold comfort letters” to the underwriters and the Selling Stockholders with respect to the Registration Statement. 
 2.7.
Information by Holder. Each holder of Registrable Shares included in any registration shall furnish to the Company such information regarding such holder and the distribution proposed by such holder as the Company may reasonably request in
writing and as shall be required in connection with any registration, qualification or compliance referred to in this Agreement. 
 2.8.
“Stand-Off” Agreement; Confidentiality of Notices. Each Stockholder, if requested by the Company and the managing underwriter of an underwritten public offering by the Company of Common Stock, shall not sell or otherwise transfer or
dispose of any Registrable Shares or other securities of the Company held by such Stockholder for a period of up to 180 days following the effective date of a Registration Statement; provided, that: 
 (a) such agreement shall only apply to the Initial Public Offering; and 
  

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 (b) all stockholders of the Company then holding at least 1% of the outstanding Common Stock (on an
as-converted basis) and all officers and directors of the Company enter into similar agreements. 
 The Company may impose stop-transfer
instructions with respect to the Registrable Shares or other securities subject to the foregoing restriction until the end of such 180-day period (or a shorter period if agreed among the Company, underwriter and Stockholders). 
 Any Stockholder receiving any written notice from the Company regarding the Company’s plans to file a Registration Statement shall treat such notice
confidentially and shall not disclose such information to any person other than as necessary to exercise its rights under this Agreement. 
 2.9. Limitations on Subsequent Registration Rights. The Company shall not, without the prior written consent of Stockholders holding at least a majority of the Registrable Shares then held by all Stockholders, enter into any
agreement (other than this Agreement) with any holder or prospective holder of any securities of the Company which grant such holder or prospective holder rights to include securities of the Company in any Registration Statement, unless
(a) such rights to include securities in a registration initiated by the Company or by Stockholders are subordinate to the rights granted to the Stockholder under Sections 2.1 and 2.2 of this Agreement, and (b) no rights are granted
to initiate a registration, other than registration pursuant to a registration statement on Form S-3 (or its successor) in which Stockholders are entitled to include Registrable Shares on a pro rata basis with such holders based on the number of
shares of Common Stock (on an as-converted basis) owned by Stockholders and such holders. 
 2.10. Rule 144 Requirements. After the
earliest of (i) the closing of the sale of securities of the Company pursuant to a Registration Statement, (ii) the registration by the Company of a class of securities under Section 12 of the Exchange Act, or (iii) the issuance
by the Company of an offering circular pursuant to Regulation A under the Securities Act, the Company agrees to: 
 (a) make and keep current
public information about the Company available, as those terms are understood and defined in Rule 144; 
 (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 (at any time after it has become subject to such reporting requirements); and 
 (c) furnish to any holder of Registrable Shares upon request (i) a written statement by the Company as to its compliance with the reporting
requirements of Rule 144 and of the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), (ii) a copy of the most recent annual or quarterly report of the Company, and (iii) such
other reports and documents of the Company as such holder may reasonably request to avail itself of any similar rule or regulation of the Commission allowing it to sell any such securities without registration. 
 2.11. Termination. All of the Company’s obligations to register Registrable Shares under Sections 2.1 and 2.2 of this Agreement shall
terminate (i) four years after the closing of the Initial Public Offering or (ii) as soon thereafter as such Stockholder could sell all 

  

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shares of Common Stock without volume limitations pursuant to Rule 144, or (iii) upon the closing of any merger or consolidation of the Corporation or a
subsidiary of the Corporation into or with another corporation (except one in which the holders of capital stock of the Corporation immediately prior to such merger or consolidation continue to hold at least a majority by voting power of the capital
stock of the surviving or acquiring corporation) or sale of all or substantially all of the assets of the Corporation. 
 3. RIGHT OF FIRST
REFUSAL. 
 3.1. Rights of Stockholders. 
 (a) The Company shall not issue, sell or exchange, agree to issue, sell or exchange, or reserve or set aside for issuance, sale or exchange, (i) any shares of its Common Stock, (ii) any other equity
securities of the Company, including, without limitation, shares of preferred stock, (iii) any option, warrant or other right to subscribe for, purchase or otherwise acquire any equity securities of the Company, or (iv) any debt securities
convertible into capital stock of the Company (collectively, the “Offered Securities”), unless in each such case the Company shall have first complied with this Section 3.1. The Company shall deliver to each
Stockholder a written notice of any proposed or intended issuance, sale or exchange of Offered Securities (the “Offer”), which Offer shall (i) identify and describe the Offered Securities, (ii) describe the price
and other terms upon which they are to be issued, sold or exchanged, and the number or amount of the Offered Securities to be issued, sold or exchanged, (iii) identify the persons or entities (if known) to which or with which the Offered
Securities are to be offered, issued, sold or exchanged and (iv) offer to issue and sell to or exchange with such Stockholder, at the same price and on the same terms as the Offered Securities were offered to other potential investors,
(A) a pro rata portion of the Offered Securities determined by dividing the aggregate number of shares of Common Stock then held by such Stockholder (giving effect to the conversion of all other shares of convertible preferred stock then held)
by the total number of shares of Common Stock then outstanding (giving effect to the exercise and conversion of all outstanding convertible securities) (the “Basic Amount”), and (B) any additional portion of the Offered
Securities attributable to the Basic Amounts of other Stockholders as such Stockholder shall indicate it will purchase or acquire should the other Stockholders subscribe for less than their Basic Amounts (the “Undersubscription
Amount”). 
 (b) To accept an Offer, in whole or in part, a Stockholder must deliver a written notice to the Company prior to
the end of the 30-day period of the Offer, setting forth the portion of the Stockholder’s Basic Amount that such Stockholder elects to purchase and, if such Stockholder shall elect to purchase all of its Basic Amount, the Undersubscription
Amount (if any) that such Stockholder elects to purchase (the “Notice of Acceptance”). If the Basic Amounts subscribed for by all Stockholders are less than the total of all of the Basic Amounts available for purchase, then
each Stockholder who has set forth an Undersubscription Amount in its Notice of Acceptance shall be entitled to purchase, in addition to the Basic Amounts subscribed for, the Undersubscription Amount it has subscribed for; provided, however,
that if the Undersubscription Amounts subscribed for exceed the difference between the total of all of the Basic Amounts available for purchase and the Basic Amounts subscribed for (the “Available Undersubscription Amount”),

  

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each Stockholder who has subscribed for any Undersubscription Amount shall be entitled to purchase only that portion of the Available Undersubscription
Amount as the Undersubscription Amount subscribed for by such Stockholder bears to the total Undersubscription Amounts subscribed for by all Stockholders, subject to rounding by the Board of Directors to the extent it deems reasonably necessary.

 (c) The Company shall have 90 days from the expiration of the period set forth in Section 3.1(b) above to issue, sell or
exchange all or any part of such Offered Securities as to which a Notice of Acceptance has not been given by the Stockholders (the “Refused Securities”), but only to the offerees or Stockholders described in the Offer (if so
described therein) and only upon terms and conditions (including, without limitation, unit prices and interest rates) which are not more favorable, in the aggregate, to the acquiring person or persons or less favorable to the Company than those set
forth in the Offer. 
 (d) In the event the Company shall propose to sell less than all the Refused Securities (any such sale to be in the
manner and on the terms specified in Section 3.1(c) above), then each Stockholder may, at its sole option and in its sole discretion, reduce the number or amount of the Offered Securities specified in its Notice of Acceptance to an
amount that shall be not less than the number or amount of the Offered Securities that the Stockholder elected to purchase pursuant to Section 3.1(b) above multiplied by a fraction, (i) the numerator of which shall be the number or
amount of Offered Securities the Company actually proposes to issue, sell or exchange (including Offered Securities to be issued or sold to Stockholders pursuant to Section 3.1(b) above prior to such reduction) and (ii) the
denominator of which shall be the original amount of the Offered Securities. In the event that any Stockholder so elects to reduce the number or amount of Offered Securities specified in its Notice of Acceptance, the Company may not issue, sell or
exchange more than the reduced number or amount of the Offered Securities unless and until such securities have again been offered to the Stockholders in accordance with Section 3.1(a) above. 
 (e) Upon the closing of the issuance, sale or exchange of all or less than all of the Refused Securities, the Stockholders shall acquire from the
Company, and the Company shall issue to the Stockholders, the number or amount of Offered Securities specified in the Notices of Acceptance, as reduced pursuant to Section 3.1(d) above if the Stockholders have so elected, upon the terms
and conditions specified in the Offer. The purchase by the Stockholders of any Offered Securities is subject in all cases to the preparation, execution and delivery by the Company and the Stockholders of a purchase agreement relating to such Offered
Securities reasonably satisfactory in form and substance to the Stockholders and their respective counsel. 
 (f) Any Offered Securities not
acquired by the Stockholders or other persons in accordance with Section 3.1(c) above may not be issued, sold or exchanged until they are again offered to the Stockholders under the procedures specified in this Agreement. 
 (g) The rights of the Stockholders under this Section 3 shall not apply to: 
 (1) Common Stock issued as a stock dividend to holders of Common Stock or upon any subdivision or combination of shares of Common Stock; 
  

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 (2) shares of Common Stock issued or deemed to be issued upon the exercise or conversion of convertible
securities of the Company outstanding on the date hereof; 
 (3) the issuance of any shares of Common Stock upon conversion of shares of
convertible preferred stock; 
 (4) the issuance of up to an aggregate of 5,938,000 shares of Common Stock or such greater number as is
approved by vote of not less than a majority of the non-employee directors of the Company, including all directors nominated by the holders of Series B Preferred Stock, or the grant of options therefor (such number to be proportionately adjusted in
the event of any stock splits, stock dividends, recapitalizations or similar events occurring on or after the date of this Agreement) to officers, directors, consultants and employees of the Company or any subsidiary pursuant to the Company’s
2000 Omnibus Stock Plan or any plan, agreement or arrangement approved by a vote of not less than a majority of the Board of Directors of the Company (it being understood that any shares subject to options that expire or terminate unexercised shall
not count towards the maximum number set forth in this clause (4)); 
 (5) securities issued solely in consideration for the acquisition
(whether by merger or otherwise) by the Company or any of its subsidiaries of all or substantially all of the equity or assets of any other entity; 
 (6) shares of Common Stock sold by the Company in an underwritten public offering pursuant to an effective registration statement under the Securities Act if the per share price to the public is at least $3.57 (which
amount shall be subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization affecting the Common Stock) and the aggregate net proceeds therefrom total at least $30,000,000; or

 (7) the Shares being sold to the Purchasers pursuant to the Series D Purchase Agreement. 
 The provisions of this Section 3.1(g) shall not in any way amend or supersede the rights and preferences of any class of the Company’s capital stock
under its Certificate of Incorporation. 
 3.2. Termination. This Section 3 shall terminate upon the earlier of the
following events: 
 (a) The sale of all or substantially all of the assets or business of the Company, by merger, sale of assets or
otherwise; or 
 (b) The closing of the Initial Public Offering if the per share price to the public is at least $3.57 (which amount shall be
subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization affecting the Common Stock) and the aggregate net proceeds therefrom total at least $30,000,000. 
  

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 4. RIGHT OF REQUIRED SALE. If the holders of (a) a majority in voting power of the then outstanding Common
Stock and (b) 50% in voting power of the then outstanding Shares, or Common Stock issued upon conversion of Shares, held by the Stockholders (the “Approving Stockholders”), shall approve of the transfer of all of the
outstanding capital stock of the Corporation, including all Stock owned by the Stockholders to a third party, whether in a single transaction or a series of related transactions by way of merger, consolidation or otherwise, then all Stockholders
shall vote in favor of, participate in and otherwise support such transaction or transactions, including without limitation by tendering their shares, provided that all Stockholders shall only be required to so vote, participate and support a
transaction in which all shares of each class and series of stock are sold on the same terms and conditions and at the same price per share as the Approving Stockholders’ shares of each such class and series of stock are sold (that is, in a
transaction to which this Section 4 applies, each share of Series A Convertible Preferred Stock will be sold on the same terms and conditions and at the same price per share as each other share of Series A Convertible Preferred Stock
sold in such transaction, each share of Series B Convertible Preferred Stock will be sold on the same terms and conditions and at the same price per share as each other share of Series B Convertible Preferred Stock sold in such transaction, each
share of Series C Convertible Preferred Stock will be sold on the same terms and conditions and at the same price per share as each other share of Series C Convertible Preferred Stock sold in such transaction, each share of Series D Convertible
Preferred Stock will be sold on the same terms and conditions and at the same price per share as each other share of Series D Convertible Preferred Stock sold in such transaction and each share of Common Stock will be sold on the same terms and
conditions and at the same price per share as each other share of Common Stock sold in such transaction). 
 5. TRANSFERS OF RIGHTS. This Agreement,
and the rights and obligations of each Stockholder hereunder, may be assigned by such Stockholder to (i) any person or entity to which at least 15% of such Stockholder’s shares (subject to appropriate adjustment for stock splits, stock
dividends, recapitalizations and other similar events) of Common Stock (including securities that are exercisable and/or convertible into such number of shares Common Stock) are transferred by such Stockholder or (ii) to any partner, subsidiary
or Affiliate of such Stockholder, and such transferee shall be deemed a “Stockholder” for purposes of this Agreement; provided in each case that the transferee provides written notice of such assignment to the Company and agrees in writing
to be bound hereby. 
  

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 6. CONFIDENTIALITY. Each Stockholder severally and not jointly agrees that it will keep confidential and will not
disclose, divulge, or use for any purpose other than monitoring its investment in the Company, any confidential, proprietary or secret information which it may obtain from materials submitted by the Company to such Stockholder pursuant to any
Purchase Agreement and conspicuously labeled as “CONFIDENTIAL,” or pursuant to visitation or inspection rights granted thereunder, unless such information was already known to or otherwise in the possession of such Stockholder without
restriction, or until such information becomes known, to the public without the fault of the Stockholder, is independently obtained or developed by such Stockholder without knowingly violating any obligation of confidentiality to the Company;
provided, however, that a Purchaser may disclose such information (i) to its attorneys, accountants, consultants and other professionals to the extent necessary to obtain their services in connection with its investment in the Company or
thereafter to enforce its rights in connection with such investment, (ii) to any prospective purchaser of any Shares from such Purchaser as long as such prospective purchaser agrees in writing to be bound by the provisions of this Section,
(iii) to any Affiliate of such Purchaser or to a partner, shareholder or subsidiary of such Purchaser , subject to the agreement of such party to keep such information confidential as set forth herein and (iv) to the extent the Company
gives or has given its consent to such disclosure. Furthermore, a general partner, officer or any Affiliate of any Purchaser may disclose information concerning the performance of their investment in the Company in any fund document or prospectus if
such disclosure is deemed appropriate or required under applicable securities laws. 
 7. COVENANTS OF THE COMPANY. 
 7.1. Inspection. The Company shall permit any Purchaser that holds at least 1,000,000 Shares, or any authorized representative thereof, to visit
and inspect the properties of the Company, including its corporate and financial records, and to discuss its business and finances with officers of the Company, during normal business hours following reasonable notice and as often as may be
reasonably requested. 
 7.2. Financial Statements and Other Information. The Company shall deliver to each Purchaser that holds at
least 1,000,000 Shares: 
 (a) within 90 days after the end of each fiscal year of the Company, an audited balance sheet of the Company as at
the end of such year and audited statements of income and of cash flows of the Company for such year, certified by certified public accountants of established national reputation selected by the Company, and prepared in accordance with generally
accepted accounting principles (“GAAP”); 
 (b) within 30 days after the end of each fiscal quarter of the Company,
an unaudited balance sheet of the Company as at the end of such quarter, and unaudited statements of income and of cash flows of the Company for such fiscal quarter and for the current fiscal year to the end of such fiscal quarter; 
 (c) as soon as available, but in any event within 30 days prior to the commencement of each new fiscal year, a business plan, annual capital and
operating budgets and projected financial statements for such fiscal year; 
  

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 (d) upon written request, copies of written materials prepared for meetings of the Board of Directors;

 (e) such other notices, information and data with respect to the Company as the Company delivers to the holders of its capital stock at
the same time it delivers such items to such holders; and 
 (f) with reasonable promptness, such other information and data as the Purchaser
may from time to time reasonably request. 
 7.3. Material Changes and Litigation. The Company shall promptly notify the Purchasers of
any material adverse change in the business, prospects, assets or condition, financial or otherwise, of the Company and of any litigation or governmental proceeding or investigation brought or, to the best of the Company’s knowledge, threatened
against the Company, or an officer, director, key employee or principal stockholder of the Company which, if adversely determined, would have a material adverse effect on the Company. 
 7.4. Subsidiaries. 
 (a) The company
shall cause MEMSIC Semiconductor (Wuxi) Co., Ltd., the Company’s wholly-owned Chinese subsidiary (the “Subsidiary”) to at all times preserve and keep in full force and effect its corporate existence and all rights and
franchises material to the business of the Subsidiary, taken as a whole, and will cause the Subsidiary to qualify to do business as a foreign corporation in any jurisdiction where the failure to do so would have a material adverse effect on the
business, condition (financial or other), assets, properties or operations of the Company and the Subsidiary, taken as a whole. The Company shall at all times own of record and beneficially, free and clear of all liens, charges, restrictions, claims
and encumbrances of any nature, all of the issued and outstanding capital stock of the Subsidiary and each other subsidiary of the Company. 
 (b) Limitations on Subsidiary Activities. Except to the extent required by law, the Company shall not permit the Subsidiary, directly or indirectly, to create or suffer to exist or become effective any encumbrances or restrictions on
the ability of the Subsidiary to (i) pay dividends or make any other distributions on its capital stock or any other interest or participation in its profit or pay any indebtedness owned by it to the Company, (ii) make loans or advances to
the Company, or (iii) transfer any of its properties or assets to the Company. The Company shall not permit the Subsidiary to take any action which, if such action were taken by the Company, would require approval by the Purchasers pursuant to
Section C.3(b) of Article Fourth of the Company’s Amended and Restated Certificate of Incorporation without first obtaining the written consent of the holders of a majority of all Preferred Stock then issued and outstanding, voting together as
a single class on an as-converted to Common Stock basis, except that such consent shall not be necessary to permit the Subsidiary to (a) conduct transactions with the Company in the ordinary course of business; (b) make amendments to the
Subsidiary’s organizational documents that would have no material impact on the Subsidiary’s business, the Company’s relationship with the Subsidiary, or the Purchaser’s rights or privileges as holders of the Company’s
stock; (c) pay dividends or make any distributions to the Company; or (d) otherwise transfer any property to the Company. 
  

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 7.5. Options. Unless otherwise agreed by a majority of the members of the Board of Directors who
are not employees of the Company, all stock options and other stock equivalents issued after the date of this Agreement to employees, directors, consultants and other service providers shall be subject to vesting (or become exercisable as the case
may be) as follows: twenty-five percent (25%) of such stock shall vest at the end of each year over four years following the earlier of the date of issuance or such person’s services commencement date with the Company, in accordance with
the Company’s stock option plan as approved by the Company’s Board of Directors, so long as the holder continues to be an employee or consultant of the Company. The foregoing vesting schedule shall not be accelerated by more than twelve
(12) months upon a merger, acquisition or like transaction, or for any other reason, unless approved by a majority of the Company’s non-employee directors. Any unvested shares shall be cancelled or subject to repurchase by the Company at
cost if the employment or consulting relationship between the employee or consultant and the Company is terminated. 
 7.6. Termination of
Covenants. The covenants of the Company contained in Sections 7.1 through 7.5 shall terminate, and be of no further force or effect, upon the closing of an underwritten firm commitment public offering of Common Stock pursuant to an effective
registration statement under the Securities Act in which the per share price to the public is at least $3.57 (which amount shall be subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar
recapitalization affecting the Common Stock) and the aggregate net proceeds therefrom total at least $30,000,000. 
 8. GENERAL. 
 8.1. Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any
other provision of this Agreement. 
 8.2. Specific Performance. In addition to any and all other remedies that may be available at
law in the event of any breach of this Agreement, each Stockholder shall be entitled to specific performance of the agreements and obligations of the Company hereunder and to such other injunctive or other equitable relief as may be granted by a
court of competent jurisdiction. 
 8.3. Governing Law. This Agreement shall be governed by and construed in accordance with the
internal laws of The Commonwealth of Massachusetts (without reference to the conflicts of law provisions thereof). 
 8.4. Notices.
All notices, requests, consents, and other communications under this Agreement shall be in writing and shall be deemed delivered (i) two business days after being sent by registered or certified mail, return receipt requested, postage prepaid
or (ii) one business day after being sent via a reputable nationwide overnight courier service guaranteeing next business day delivery, in each case to the intended recipient as set forth below: 
 If to the Company, at 800 Turnpike Street, Suite 202, North Andover, Massachusetts 01845, Attention: President, or at such other address or
addresses as may have been furnished in writing by the Company to the Purchasers, with a copy to Robert L. Birnbaum, Esq., Foley Hoag LLP, 155 Seaport Boulevard, Boston, Massachusetts 02210; 
  

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 If to a Purchaser, at his or its address set forth on Exhibit A, or at such other
address or addresses as may have been furnished to the Company in writing by such Purchaser, with a copy to Paul P. Brountas, Esq., Hale and Dorr LLP, 60 State Street, Boston, MA 02109; or 
 Any party may give any notice, request, consent or other communication under this Agreement using any other means (including, without limitation,
personal delivery, messenger service, telecopy, first class mail or electronic mail), but no such notice, request, consent or other communication shall be deemed to have been duly given unless and until it is actually received by the party for whom
it is intended. Any party may change the address to which notices, requests, consents or other communications hereunder are to be delivered by giving the other parties notice in the manner set forth in this Section. 
 8.5. Complete Agreement. This Agreement constitutes the entire agreement and understanding of the parties hereto with respect to the subject
matter hereof and supersedes all prior agreements and understandings relating to such subject matter, including without limitation the Prior Investor Rights Agreement. This Agreement may be translated into other languages, provided that the original
English-language version shall remain the official version, and in the event of any discrepancy between translations of this Agreement, the English-language version shall govern. 
 8.6. Amendments and Waivers. Any term of this Agreement may be amended or terminated and the observance of any term of this Agreement may be
waived (either generally or in a particular instance and either retroactively or prospectively), with the written consent of the Company and the holders of at least a majority of the Registrable Shares held by all of the Stockholders; provided,
that this Agreement may be amended with the consent of the holders of less than all Registrable Shares only in a manner which affects all such holders in the same fashion. Any such amendment, termination or waiver effected in accordance with
this Section 8.6 shall be binding on all parties hereto, even if they do not execute such consent. No waivers of or exceptions to any term, condition or provision of this Agreement, in any one or more instances, shall be deemed to be, or
construed as, a further or continuing waiver of any such term, condition or provision. 
 8.7. Pronouns. Whenever the context may
require, any pronouns used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural, and vice versa. 
 8.8. Counterparts; Facsimile Signatures. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an
original, and all of which together shall constitute one and the same document. This Agreement may be executed by facsimile signatures. 
 8.9. Section Headings. The section headings are for the convenience of the parties and in no way alter, modify, amend, limit or restrict the contractual obligations of the parties. 
  

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 8.10. Accession. Any Additional Purchaser (as defined in the Series C Purchase Agreement) shall
automatically become a party to this Agreement by executing and delivering to the Company a counterpart signature page to this Agreement, shall be added to Exhibit A hereto and shall thereupon be deemed a “Purchaser” for all
purposes of this Agreement. 
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