Document:

atha-ex42_7.htm

Exhibit 4.2

ATHIRA PHARMA, INC. 

INVESTORS’ RIGHTS AGREEMENT

May 29, 2020

 

 

 

 

TABLE OF CONTENTS

 

	
 
	
 
	
 
	
Page

	
 
	
 
	
 
	
 

	
1.
	
Definitions
	
1

	
 
	
 
	
 
	
 

	
2.
	
Registration Rights
	
5

	
 
	
 
	
 
	
 

	
 
	
2.1
	
Demand Registration
	
5

	
 
	
2.2
	
Company Registration
	
6

	
 
	
2.3
	
Underwriting Requirements
	
7

	
 
	
2.4
	
Obligations of the Company
	
8

	
 
	
2.5
	
Furnish Information
	
9

	
 
	
2.6
	
Expenses of Registration
	
9

	
 
	
2.7
	
Delay of Registration
	
10

	
 
	
2.8
	
Indemnification
	
10

	
 
	
2.9
	
Reports Under Exchange Act
	
12

	
 
	
2.10
	
Limitations on Subsequent Registration Rights
	
12

	
 
	
2.11
	
“Market Stand‐off” Agreement
	
12

	
 
	
2.12
	
Restrictions on Transfer
	
13

	
 
	
2.13
	
Termination of Registration Rights
	
14

	
 
	
 
	
 
	
 

	
3.
	
Information Rights.
	
15

	
 
	
 
	
 
	
 

	
 
	
3.1
	
Delivery of Financial Statements.
	
15

	
 
	
3.2
	
Inspection
	
16

	
 
	
3.3
	
Termination of Information Rights
	
16

	
 
	
3.4
	
Confidentiality.
	
16

	
 
	
 
	
 

	
4.
	
Rights to Future Stock Issuances
	
17

	
 
	
 
	
 
	
 

	
 
	
4.1
	
Right of First Offer
	
17

	
 
	
 
	
 
	
 

	
5.
	
Additional Covenants
	
18

	
 
	
 
	
 
	
 

	
 
	
5.1
	
Insurance
	
18

	
 
	
5.2
	
Employee Agreements
	
18

	
 
	
5.3
	
Employee Stock
	
18

	
 
	
5.4
	
Matters Requiring Investor Director Approval
	
19

	
 
	
5.5
	
Board Matters
	
19

	
 
	
5.6
	
Successor Indemnification
	
20

	
 
	
5.7
	
Indemnification Matters
	
20

	
 
	
5.8
	
Right to Conduct Activities
	
20

	
 
	
5.9
	
Termination of Covenants
	
21

	
 
	
 
	
 
	
 

	
6.
	
Miscellaneous
	
21

	
 
	
 
	
 
	
 

	
 
	
6.1
	
Successors and Assigns
	
21

	
 
	
6.2
	
Governing Law
	
21

i

 

 

 

	
 
	
6.3
	
Counterparts
	
22

	
 
	
6.4
	
Titles and Subtitles
	
22

	
 
	
6.5
	
Notices
	
22

	
 
	
6.6
	
Amendments and Waivers
	
22

	
 
	
6.7
	
Severability
	
23

	
 
	
6.8
	
Aggregation of Stock
	
23

	
 
	
6.9
	
Additional Investors
	
24

	
 
	
6.10
	
Entire Agreement
	
24

	
 
	
6.11
	
Dispute Resolution
	
24

	
 
	
6.12
	
Delays or Omissions
	
25

 

 

	
 
	
Schedule A         -         Schedule of Investors
	
 

 

 

 

ii

 

 

ATHIRA PHARMA, INC. 

INVESTORS’ RIGHTS AGREEMENT

THIS INVESTORS’ RIGHTS AGREEMENT (this “Agreement”), is made as of May 29, 2020, by and among Athira Pharma, Inc., a Delaware corporation (the “Company”), each of the investors listed on Schedule A hereto, each of which is referred to in this Agreement as an “Investor,” each of the stockholders listed on Schedule B hereto, each of whom is referred to herein as a ”Key Holder” and any Additional Purchaser (as defined in the Purchase Agreement) that becomes a party to this Agreement in accordance with Section 6.9 hereof.

RECITALS

WHEREAS, the Company and certain of the Investors are parties to the Series B Preferred Stock, Series B-1 Preferred Stock and Warrant Purchase Agreement of even date herewith (as amended, the “Purchase Agreement”); and

WHEREAS, in order to induce the Company to enter into the Purchase Agreement and to induce the Investors to invest funds in the Company pursuant to the Purchase Agreement, the Investors, the Key Holders and the Company hereby agree that this Agreement shall govern the rights of the Investors to cause the Company to register shares of Common Stock issuable to the Investors, to receive certain information from the Company, and to participate in future equity offerings by the Company, and shall govern certain other matters as set forth in this Agreement;

NOW, THEREFORE, the parties hereby agree as follows:

1.Definitions. For purposes of this Agreement:

1.1“Affiliate” means, with respect to any specified Person, any other Person who, directly or indirectly, controls, is controlled by, or is under common control with such Person, including without limitation any general partner, managing member, officer, director or trustee of such Person, or any venture capital or other investment fund or registered investment company now or hereafter existing that is controlled by one or more general partners, managing members or investment adviser of, or shares the same management company or investment adviser with, such Person.

1.2“Board of Directors” means the board of directors of the Company.

1.3“Certificate of Incorporation” means the Company’s Amended and Restated Certificate of Incorporation, as amended and/or restated from time to time.

1.4“Common Stock” means shares of the Company’s common stock, par value $0.0001 per share.

 

 

 

1.5“Competitor” means a Person engaged, directly or indirectly (including through any partnership, limited liability company, corporation, joint venture or similar arrangement (whether now existing or formed hereafter)), in business reasonably deemed to be competitive by the Board of Directors, but shall not include (i) any financial investment firm or collective investment vehicle that, together with its Affiliates, holds less than twenty percent (20%) of the outstanding equity of any Competitor and does not, nor do any of its Affiliates, have a right to designate any members of the board of directors of any Competitor, (ii) Perceptive Life Sciences Master Fund Ltd. (iii) RTW, (iv) Rock Springs Capital Master Fund LP and Four Pines Master Fund LP, and (v) Franklin Strategic Series-Franklin Biotechnology Discovery Fund and Franklin Templeton Investments Funds – Franklin Biotechnology Discovery Fund (collectively, “Franklin”).

1.6“Damages” means any loss, damage, claim or liability (joint or several) to which a party hereto may become subject under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, claim or liability (or any action in respect thereof) arises out of or is based upon: (i) any untrue statement or alleged untrue statement of a material fact contained in any registration statement of the Company, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto; (ii) an omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading; or (iii) any violation or alleged violation by the indemnifying party (or any of its agents or Affiliates) of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act, or any state securities law.

1.7“Derivative Securities” means any securities or rights convertible into, or exercisable or exchangeable for (in each case, directly or indirectly), Common Stock, including options and warrants.

1.8“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

1.9“Excluded Registration” means (i) a registration relating to the sale or grant of securities to employees of the Company or a subsidiary pursuant to a stock option, stock purchase, equity incentive or similar plan; (ii) a registration relating to an SEC Rule 145 transaction; (iii) a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities; or (iv) a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered.

1.10“FOIA Party” means a Person that, in the reasonable determination of the Board of Directors, may be subject to, and thereby required to disclose non-public information furnished by or relating to the Company under, the Freedom of Information Act, 5 U.S.C. 552 (“FOIA”), any state public records access law, any state or other jurisdiction’s laws similar in intent or effect to FOIA, or any other similar statutory or regulatory requirement.

1.11“Form S‐1” means such form under the Securities Act as in effect on the date hereof or any successor registration form under the Securities Act subsequently adopted by the SEC.

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1.12“Form S‐3” means such form under the Securities Act as in effect on the date hereof or any registration form under the Securities Act subsequently adopted by the SEC that permits forward incorporation of substantial information by reference to other documents filed by the Company with the SEC.

1.13“GAAP” means generally accepted accounting principles in the United States as in effect from time to time.

1.14“Holder” means any holder of Registrable Securities who is a party to this Agreement.

1.15“Immediate Family Member” means a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including, adoptive relationships, of a natural person referred to herein.

1.16“Independent Director” shall have the meaning set forth in the Voting Agreement dated on or about the date hereof by and among the Company and the signatories thereto, as may be amended from time to time.  

1.17“Initiating Holders” means, collectively, Holders who properly initiate a registration request under this Agreement.

1.18“IPO” means the Company’s first underwritten public offering of its Common Stock under the Securities Act.

1.19“Key Employee” any executive-level employee (including, division director and vice president-level positions) as well as any employee who, either alone or in concert with others, develops, invents, programs, or designs any Company Intellectual Property (as defined in the Purchase Agreement).

1.20“Key Holder Registrable Securities” means (i) the shares of Common Stock held by the Key Holders, and (ii) any Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of such shares.

1.21“Major Investor” means (i) any Investor that, individually or together with such Investor’s Affiliates, holds at least 3,478,260 shares of Registrable Securities (as adjusted for any stock split, stock dividend, combination, or other recapitalization or reclassification effected after the date hereof).

1.22“New Securities” means, collectively, equity securities of the Company, whether or not currently authorized, as well as rights, options, or warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible or exchangeable into or exercisable for such equity securities.

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1.23“Person” means any individual, corporation, partnership, trust, limited liability company, association or other entity.

1.24“Preferred Stock” means shares of the Company’s Series A Preferred Stock, Series A-1 Preferred Stock, Series B Preferred Stock and Series B-1 Preferred Stock.

1.25“Registrable Securities” means (i) the Common Stock issuable or issued upon conversion of the Preferred Stock; (ii) any Common Stock, or any Common Stock issued or issuable (directly or indirectly) upon conversion and/or exercise of any other securities of the Company, acquired by the Investors on or after the date hereof; (iii) the Key Holder Registrable Securities, provided, however, that such Key Holder Registrable Securities shall not be deemed Registrable Securities and the Key Holders shall not be deemed Holders for the purposes of Subsections 2.1 (and any other applicable Section or Subsection with respect to registrations under Subsection 2.1, 2.10, 3.1, 3.2, 4.1 and 6.6, and (iv) any Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the shares referenced in clauses (i) and (ii) above; excluding in all cases (other than the restrictions on transfer and legend requirements in Section 2.12), however, any Registrable Securities sold by a Person in a transaction in which the applicable rights under this Agreement are not assigned pursuant to Subsection 6.1, and excluding for purposes of Section 2 any shares for which registration rights have terminated pursuant to Subsection 2.13 of this Agreement.

1.26“Registrable Securities then outstanding” means the number of shares determined by adding the number of shares of outstanding Common Stock that are Registrable Securities and the number of shares of Common Stock issuable (directly or indirectly) pursuant to then exercisable and/or convertible securities that are Registrable Securities.

1.27“Restricted Securities” means the securities of the Company required to be notated with the legend set forth in Subsection 2.12(b) hereof.

1.28“RTW” means RTW Investments and its Affiliated funds.

1.29“SEC” means the Securities and Exchange Commission.

1.30“SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act.

1.31“SEC Rule 145” means Rule 145 promulgated by the SEC under the Securities Act.

1.32“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

1.33“Selling Expenses” means all underwriting discounts, selling commissions, and stock transfer taxes applicable to the sale of Registrable Securities, and fees and disbursements of counsel for any Holder, except for the fees and disbursements of the Selling Holder Counsel borne and paid by the Company as provided in Subsection 2.6.

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1.34 “Series A Preferred Stock” means shares of the Company’s Series A Preferred Stock, par value $0.0001 per share.

1.35“Series A-1 Preferred Stock” means shares of the Company’s Series A-1 Preferred Stock, par value $0.0001 per share. 

1.36“Series B Director” shall have the meaning set forth in the Certificate of Incorporation.

1.37“Series B Preferred Stock” means shares of the Company’s Series B Preferred Stock, par value $0.0001 per share.  

1.38“Series B-1 Preferred Stock” means shares of the Company’s Series B-1 Preferred Stock, par value $0.0001 per share.  

2.Registration Rights. The Company covenants and agrees as follows:

2.1Demand Registration.

(a)Form S-1 Demand. If at any time after the earlier of (i) three (3) years after the date of this Agreement or (ii) one hundred eighty (180) days after the effective date of the registration statement for the IPO, the Company receives a request from Holders of a majority of the Registrable Securities then outstanding that the Company file a Form S-1 registration statement with respect to at least forty percent (40%) of the Registrable Securities then outstanding, then the Company shall (x) within ten (10) days after the date such request is given, give notice thereof (the “Demand Notice”) to all Holders other than the Initiating Holders; and (y) as soon as practicable, and in any event within sixty (60) days after the date such request is given by the Initiating Holders, file a Form S-1 registration statement under the Securities Act covering all Registrable Securities that the Initiating Holders requested to be registered and any additional Registrable Securities requested to be included in such registration by any other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days of the date the Demand Notice is given, and in each case, subject to the limitations of Subsections 2.1(c) and 2.3.

(b)Form S-3 Demand. If at any time when it is eligible to use a Form S-3 registration statement, the Company receives a request from Holders of at least thirty percent (30%) of the Registrable Securities then outstanding that the Company file a Form S-3 registration statement with respect to outstanding Registrable Securities of such Holders having an anticipated aggregate offering price, net of Selling Expenses, of at least $5 million, then the Company shall (i) within ten (10) days after the date such request is given, give a Demand Notice to all Holders other than the Initiating Holders; and (ii) as soon as practicable, and in any event within forty-five (45) days after the date such request is given by the Initiating Holders, file a Form S-3 registration statement under the Securities Act covering all Registrable Securities requested to be included in such registration by any other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days of the date the Demand Notice is given, and in each case, subject to the limitations of Subsections 2.1(c) and 2.3.

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(c)Notwithstanding the foregoing obligations, if the Company furnishes to Holders requesting a registration pursuant to this Subsection 2.1 a certificate signed by the Company’s chief executive officer stating that in the good faith judgment of the Board of Directors it would be materially detrimental to the Company for such registration statement to either become effective or remain effective for as long as such registration statement otherwise would be required to remain effective, because such action would (i) materially interfere with a significant acquisition, corporate reorganization, or other similar transaction involving the Company; (ii) require premature disclosure of material information that the Company has a bona fide business purpose for preserving as confidential; or (iii) render the Company unable to comply with requirements under the Securities Act or Exchange Act, then the Company shall have the right to defer taking action with respect to such filing, and any time periods with respect to filing or effectiveness thereof shall be tolled correspondingly, for a period of not more than one hundred twenty (120) days after the request of the Initiating Holders is given; provided, however, that the Company may not invoke this right more than once in any twelve (12) month period and provided further that the Company shall not register any securities for its own account or that of any other stockholder during such one hundred twenty (120) day period other than an Excluded Registration.

(d)The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Subsection 2.1(a) (i) during the period that is sixty (60) days before the Company’s good faith estimate of the date of filing of, and ending on a date that is one hundred eighty (180) days after the effective date of, a Company-initiated registration, provided that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; (ii) after the Company has effected two registrations pursuant to Subsection 2.1(a); 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 Subsection 2.1(b). The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Subsection 2.1(b) (i) during the period that is thirty (30) days before the Company’s good faith estimate of the date of filing of, and ending on a date that is ninety (90) days after the effective date of, a Company-initiated registration, provided that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; or (ii) if the Company has effected two registrations pursuant to Subsection 2.1(b) within the twelve (12) month period immediately preceding the date of such request. A registration shall not be counted as “effected” for purposes of this Subsection 2.1(d) until such time as the applicable registration statement has been declared effective by the SEC, unless the Initiating Holders withdraw their request for such registration, elect not to pay the registration expenses therefor, and forfeit their right to one demand registration statement pursuant to Subsection 2.6, in which case such withdrawn registration statement shall be counted as “effected” for purposes of this Subsection 2.1(d); provided, that if such withdrawal is during a period the Company has deferred taking action pursuant to Subsection 2.1(c), then the Initiating Holders may withdraw their request for registration and such registration will not be counted as “effected” for purposes of this Subsection 2.1(d).

2.2Company Registration. If the Company proposes to register (including, for this purpose, a registration effected by the Company for stockholders other than the Holders) any of its Common Stock under the Securities Act in connection with the public offering of such securities solely for cash (other than in an Excluded Registration), the Company shall, at such time, promptly give each Holder notice of such registration. Upon the request of each Holder given within twenty (20) days after such notice is given by the Company, the Company shall, subject to the provisions of Subsection 2.3, cause to be registered all of the Registrable Securities that each such Holder has requested to be included in such registration. The Company shall have the right to terminate or withdraw any registration initiated by it under this Subsection 2.2 before the effective date of such registration, whether or not any Holder has elected to include Registrable Securities in such registration. The expenses (other than Selling Expenses) of such withdrawn registration shall be borne by the Company in accordance with Subsection 2.6.

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2.3Underwriting Requirements.

(a)If, pursuant to Subsection 2.1, the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to Subsection 2.1, and the Company shall include such information in the Demand Notice. The underwriter(s) will be selected by the Company and shall be reasonably acceptable to a majority in interest of the Initiating Holders. In such event, the right of any Holder to include such Holder’s Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with the Company as provided in Subsection 2.4(e)) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting. Notwithstanding any other provision of this Subsection 2.3, if the underwriter(s) advise(s) the Initiating Holders in writing that marketing factors require a limitation on the number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of Registrable Securities that otherwise would be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be allocated among such Holders of Registrable Securities, including the Initiating Holders, in proportion (as nearly as practicable) to the number of Registrable Securities owned by each Holder or in such other proportion as shall mutually be agreed to by all such selling Holders; provided, however, that the number of Registrable Securities held by the Holders to be included in such underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest one hundred (100) shares.

(b)In connection with any offering involving an underwriting of shares of the Company’s capital stock pursuant to Subsection 2.2, the Company shall not be required to include any of the Holders’ 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 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. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest one hundred (100) shares. Notwithstanding the foregoing, in no event shall (i) the number of Registrable Securities included in the offering be reduced unless all other securities (other than securities to be sold by the Company) are first entirely excluded from the offering, or (ii) the number of Registrable Securities included in the offering be reduced below twenty percent (20%) of the total number of securities included in such offering, unless such offering is the IPO, in which case the selling Holders may be excluded further if the underwriters make the determination described above and no other stockholder’s securities are included in such offering. For purposes of the provision in this Subsection 2.3(b) concerning apportionment, for any selling Holder that is a partnership, limited liability 

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company, or corporation, the partners, members, retired partners, retired members, stockholders, and Affiliates of such Holder, or the estates and Immediate Family Members of any such partners, retired partners, members, and retired members and any trusts for the benefit of any of the foregoing Persons, shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate number of Registrable Securities owned by all Persons included in such “selling Holder,” as defined in this sentence.

2.4Obligations of the Company. Whenever required under this Section 2 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible:

(a)prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its commercially reasonable efforts to cause such registration statement to become effective and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep such registration statement effective for a period of up to one hundred twenty (120) days or, if earlier, until the distribution contemplated in the registration statement has been completed; provided, however, that such one hundred twenty (120) day period shall be extended for a period of time equal to the period the Holder refrains, at the request of an underwriter of Common Stock (or other securities) of the Company, from selling any securities included in such registration;

(b)prepare and file with the SEC such amendments and supplements to such registration statement, and the prospectus used in connection with such registration statement, as may be necessary to comply with the Securities Act in order to enable the disposition of all securities covered by such registration statement;

(c)furnish to the selling Holders such numbers of copies of a prospectus, including a preliminary prospectus, as required by the Securities Act, and such other documents as the Holders may reasonably request in order to facilitate their disposition of their Registrable Securities;

(d)use its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other securities or blue-sky laws of such jurisdictions as shall be reasonably requested by the selling Holders; provided that the Company shall not be required to qualify to do business or to file a general consent to service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act;

(e)in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the underwriter(s) of such offering;

(f)use its commercially reasonable efforts to cause all such Registrable Securities covered by such registration statement to be listed on a national securities exchange or trading system and each securities exchange and trading system (if any) on which similar securities issued by the Company are then listed;

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(g)provide a transfer agent and registrar for all Registrable Securities registered pursuant to this Agreement and provide a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration;

(h)promptly make available for inspection by the selling Holders, any underwriter(s) 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 Holders, 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 each case, as necessary or advisable to verify the accuracy of the information in such registration statement and to conduct appropriate due diligence in connection therewith;

(i)notify each selling Holder, promptly after the Company receives notice thereof, of the time when such registration statement has been declared effective or a supplement to any prospectus forming a part of such registration statement has been filed; and

(j)after such registration statement becomes effective, notify each selling Holder of any request by the SEC that the Company amend or supplement such registration statement or prospectus.

In addition, the Company shall ensure that, at all times after any registration statement covering a public offering of securities of the Company under the Securities Act shall have become effective, its insider trading policy shall provide that the Company’s directors may implement a trading program under Rule 10b5-1 of the Exchange Act.

2.5Furnish Information. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as is reasonably required to effect the registration of such Holder’s Registrable Securities.

2.6Expenses of Registration. All expenses (other than Selling Expenses) incurred in connection with registrations, filings, or qualifications pursuant to Section 2, including all registration, filing, and qualification fees; printers’ and accounting fees; fees and disbursements of counsel for the Company; and the reasonable fees and disbursements, not to exceed $50,000, of one counsel for the selling Holders (“Selling Holder Counsel”), shall be borne and paid by the Company; provided, however, that the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant to Subsection 2.1 if the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case all selling Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be included in the withdrawn registration), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to one registration pursuant to Subsections 2.1(a) or 2.1(b), as the case may be. All Selling Expenses relating to Registrable Securities registered pursuant to this Section 2 shall be borne and paid by the Holders pro rata on the basis of the number of Registrable Securities registered on their behalf.

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2.7Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2.

2.8Indemnification. If any Registrable Securities are included in a registration statement under this Section 2:

(a)To the extent permitted by law, the Company will indemnify and hold harmless each selling Holder, and the partners, members, officers, directors, and stockholders of each such Holder; legal counsel and accountants for each such Holder; any underwriter (as defined in the Securities Act) for each such Holder; and each Person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any Damages, and the Company will pay to each such Holder, underwriter, controlling Person, or other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this Subsection 2.8(a) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the Company be liable for any Damages to the extent that they arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of any such Holder, underwriter, controlling Person, or other aforementioned Person expressly for use in connection with such registration.

(b)To the extent permitted by law, each selling Holder, severally and not jointly, will indemnify and hold harmless the Company, and each of its directors, each of its officers who has signed the registration statement, each Person (if any), who controls the Company within the meaning of the Securities Act, legal counsel and accountants for the Company, any underwriter (as defined in the Securities Act), any other Holder selling securities in such registration statement, and any controlling Person of any such underwriter or other Holder, against any Damages, in each case only to the extent that such Damages arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of such selling Holder expressly for use in connection with such registration; and each such selling Holder will pay to the Company and each other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this Subsection 2.8(b) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld; and provided further that in no event shall the aggregate amounts payable by any Holder by way of indemnity or contribution under Subsections 2.8(b) and 2.8(d) exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of fraud or willful misconduct by such Holder.

(c)Promptly after receipt by an indemnified party under this Subsection 2.8 of notice of the commencement of any action (including any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Subsection 2.8, give the indemnifying party notice of the commencement thereof. The indemnifying party shall have the right to participate in such action and, to the extent the indemnifying party so desires, participate jointly with any other indemnifying party to which notice has been given, and to assume the defense thereof with counsel mutually satisfactory to the parties; 

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provided, however, that an indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the right to retain one  separate counsel, with the fees and expenses to be paid by the indemnifying party, 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 such indemnified party and any other party represented by such counsel in such action. The failure to give notice to the indemnifying party within a reasonable time of the commencement of any such action shall relieve such indemnifying party of any liability to the indemnified party under this Subsection 2.8, to the extent that such failure materially prejudices the indemnifying party’s ability to defend such action. The failure to give notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Subsection 2.8.

(d)To provide for just and equitable contribution to joint liability under the Securities Act in any case in which either: (i) any party otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Subsection 2.8 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact that this Subsection 2.8 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of any party hereto for which indemnification is provided under this Subsection 2.8, then, and in each such case, such parties will contribute to the aggregate losses, claims, damages, liabilities, or expenses to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of each of the indemnifying party and the indemnified party in connection with the statements, omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided, however, that, in any such case (x) no Holder will be required to contribute any amount in excess of the public offering price of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement, and (y) no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation; and provided further that in no event shall a Holder’s liability pursuant to this Subsection 2.8(d), when combined with the amounts paid or payable by such Holder pursuant to Subsection 2.8(b), exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of willful misconduct or fraud by such Holder.

(e)Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control.

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(f)Unless otherwise superseded by an underwriting agreement entered into in connection with the underwritten public offering, the obligations of the Company and Holders under this Subsection 2.8 shall survive the completion of any offering of Registrable Securities in a registration under this Section 2, and otherwise shall survive the termination of this Agreement.

2.9Reports Under Exchange Act. With a view to making available to the Holders the benefits of SEC Rule 144 and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S‐3, the Company shall:

(a)make and keep available adequate current public information, as those terms are understood and defined in SEC Rule 144, at all times after the effective date of the registration statement filed by the Company for the IPO;

(b)use commercially reasonable efforts to file with the SEC 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 the Company has become subject to such reporting requirements); and

(c)furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) to the extent accurate, a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety (90) days after the effective date of the registration statement filed by the Company for the IPO), the Securities Act, and the Exchange Act (at any time after the Company has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S‐3 (at any time after the Company so qualifies); and (ii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC that permits the selling of any such securities without registration (at any time after the Company has become subject to the reporting requirements under the Exchange Act) or pursuant to Form S‐3 (at any time after the Company so qualifies to use such form).

2.10Limitations on Subsequent Registration Rights. From and after the date of this Agreement, the Company shall not, without the prior written consent of the Holders of a majority of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective holder of any securities of the Company that would provide to such holder or prospective holder the right to include securities in any registration on other than either a pro rata basis with respect to the Registrable Securities or on a subordinate basis after all Holders have had the opportunity to include in the registration and offering all shares of Registrable Securities that they wish to so include; provided that this limitation shall not apply to Registrable Securities acquired by any additional Investor that becomes a party to this Agreement in accordance with Subsection 6.9.

2.11“Market Stand‐off” Agreement. Each Holder hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the registration by the Company of shares of its Common Stock or any other equity securities under the Securities Act on a registration statement on Form S‐1 in connection with the IPO, and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days, or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (1) the publication or other distribution of research reports, and (2) analyst recommendations and opinions, 

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including, but not limited to, the restrictions contained in applicable FINRA rules, or any successor provisions or amendments thereto), (i) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract to sell; grant any option, right, or warrant to purchase; or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock held immediately before the effective date of the registration statement for such offering or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash, or otherwise. The foregoing provisions of this Subsection 2.11 shall apply only to the IPO, shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, or the transfer of any shares to any trust for the direct or indirect benefit of the Holder or the immediate family of the Holder, provided that the trustee of the trust agrees to be bound in writing by the restrictions set forth herein, and provided further that any such transfer shall not involve a disposition for value, and shall be applicable to the Holders only if all officers and directors are subject to the same restrictions and the Company uses commercially reasonable efforts to obtain a similar agreement from all stockholders individually owning more than one percent (1%) of the Company’s outstanding Common Stock (after giving effect to conversion into Common Stock of all outstanding Preferred Stock. The underwriters in connection with such registration are intended third‐party beneficiaries of this Subsection 2.11 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in connection with such registration that are consistent with this Subsection 2.11 or that are necessary to give further effect thereto. Any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters shall apply pro rata to all Company stockholders that are subject to such agreements, based on the number of shares subject to such agreements, except that, notwithstanding the foregoing, the Company and the underwriters may, in their sole discretion, waive or terminate these restrictions with respect to up to three percent (3%) of the outstanding shares of Common Stock.

2.12Restrictions on Transfer.

(a)The Preferred Stock and the Registrable Securities shall not be sold, pledged, or otherwise transferred, and the Company shall not recognize and shall issue stop-transfer instructions to its transfer agent with respect to any such sale, pledge, or transfer, except upon the conditions specified in this Agreement, which conditions are intended to ensure compliance with the provisions of the Securities Act. A transferring Holder will cause any proposed purchaser, pledgee, or transferee of the Preferred Stock and the Registrable Securities held by such Holder to agree to take and hold such securities subject to the provisions and upon the conditions specified in this Agreement.

(b)Each certificate, instrument, or book entry representing (i) the Preferred Stock, (ii) the Registrable Securities, and (iii) any other securities issued in respect of the securities referenced in clauses (i) and (ii), upon any stock split, stock dividend, recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of Subsection 2.12(c)) be notated with a legend substantially in the following form:

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THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. SUCH SHARES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID EXEMPTION FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT.

THE SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.

The Holders consent to the Company making a notation in its records and giving instructions to any transfer agent of the Restricted Securities in order to implement the restrictions on transfer set forth in this Subsection 2.12.

(c)The holder of such Restricted Securities, by acceptance of ownership thereof, agrees to comply in all respects with the provisions of this Section 2. Before any proposed sale, pledge, or transfer of any Restricted Securities, unless there is in effect a registration statement under the Securities Act covering the proposed transaction, the Holder thereof shall give notice to the Company of such Holder’s intention to effect such sale, pledge, or transfer. Each such notice shall describe the manner and circumstances of the proposed sale, pledge, or transfer in sufficient detail and, if reasonably requested by the Company, shall be accompanied at such Holder’s expense by either (i) a written opinion of legal counsel who shall, and whose legal opinion shall, be reasonably satisfactory to the Company, addressed to the Company, to the effect that the proposed transaction may be effected without registration under the Securities Act; (ii) a “no action” letter from the SEC to the effect that the proposed  sale, pledge, or transfer of such Restricted Securities without registration will not result in a recommendation by the staff of the SEC that action be taken with respect thereto; or (iii) any other evidence reasonably satisfactory to counsel to the Company to the effect that the proposed sale, pledge, or transfer of the Restricted Securities may be effected without registration under the Securities Act, whereupon the Holder of such Restricted Securities shall be entitled to sell, pledge, or transfer such Restricted Securities in accordance with the terms of the notice given by the Holder to the Company. The Company will not require such a legal opinion or “no action” letter (x) in any transaction in compliance with SEC Rule 144; or (y) in any transaction in which such Holder distributes Restricted Securities to an Affiliate of such Holder for no consideration; provided that each transferee agrees in writing to be subject to the terms of this Subsection 2.12. Each certificate, instrument, or book entry representing the Restricted Securities transferred as above provided shall be notated with, except if such transfer is made pursuant to SEC Rule 144, the appropriate restrictive legend set forth in Subsection 2.12(b), except that such certificate instrument, or book entry shall not be notated with such restrictive legend if, in the opinion of counsel for such Holder and the Company, such legend is not required in order to establish compliance with any provisions of the Securities Act.

2.13Termination of Registration Rights. The right of any Holder to request registration or inclusion of Registrable Securities in any registration pursuant to Subsections 2.1 or 2.2 shall terminate upon the earliest to occur of:

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(a)the closing of a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation;

(b)such time after consummation of the IPO as Rule 144 or another similar exemption under the Securities Act is available for the sale of all of such Holder’s shares without limitation during a three-month period without registration;

(c)the third (3rd) anniversary of the IPO.

3.Information Rights.

3.1Delivery of Financial Statements.  The Company shall deliver to each Major Investor, provided that the Board of Directors has not reasonably determined that such Major Investor is a Competitor:

(a)as soon as practicable, but in any event within one hundred twenty (120) days after the end of each fiscal year of the Company (i) a balance sheet as of the end of such year, (ii) statements of income and of cash flows for such year, and (iii) a statement of stockholders’ equity as of the end of such year, all such financial statements audited and certified by independent public accountants of nationally recognized standing selected by the Company;

(b)as soon as practicable, but in any event within forty‐five (45) days after the end of each quarter (including the fourth quarter) of each fiscal year of the Company, unaudited statements of income and cash flows for such fiscal quarter, and an unaudited balance sheet and a statement of stockholders’ equity as of the end of such fiscal quarter, all prepared in accordance with GAAP (except that such financial statements may (i) be subject to normal year-end audit adjustments; and (ii) not contain all notes thereto that may be required in accordance with GAAP);

(c)as soon as practicable, but in any event within forty-five (45) days after the end of each of the first three (3) quarters of each fiscal year of the Company, a statement showing the number of shares of each class and series of capital stock and securities convertible into or exercisable for shares of capital stock outstanding at the end of the period, the Common Stock issuable upon conversion or exercise of any outstanding securities convertible or exercisable for Common Stock and the exchange ratio or exercise price applicable thereto, and the number of shares of issued stock options and stock options not yet issued but reserved for issuance, if any, all in sufficient detail as to permit the Major Investors to calculate their respective percentage equity ownership in the Company, and certified by the chief financial officer or chief executive officer of the Company as being true, complete, and correct;

(d)as soon as practicable, but in any event thirty (30) days before the end of each fiscal year, a budget and business plan for the next fiscal year (collectively, the “Budget”), approved by the Board of Directors (including the Series B Director) and prepared on a monthly basis, including balance sheets, income statements, and statements of cash flow for such months and, promptly after prepared, any other budgets or revised budgets prepared by the Company.

If, for any period, the Company has any subsidiary whose accounts are consolidated with those of the Company, then in respect of such period the financial statements delivered pursuant to the foregoing sections shall be the consolidated and consolidating financial statements of the Company and all such consolidated subsidiaries.

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Notwithstanding anything else in this Subsection 3.1 to the contrary, the Company may cease providing the information set forth in this Subsection 3.1 during the period starting with the date sixty (60) days before the Company’s good-faith estimate of the date of filing of a registration statement if it reasonably concludes it must do so to comply with the SEC rules applicable to such registration statement and related offering; provided that the Company’s covenants under this Subsection 3.1 shall be reinstated at such time as the Company is no longer actively employing its commercially reasonable efforts to cause such registration statement to become effective.

3.2Inspection.  The Company shall permit each Major Investor (provided that the Board of Directors has not reasonably determined that such Major Investor is a competitor of the Company), at such Major Investor’s expense, to visit and inspect the Company’s properties; examine its books of account and records; and discuss the Company’s affairs, finances, and accounts with its officers, during normal business hours of the Company as may be reasonably requested by the Major Investor; provided, however, that the Company shall not be obligated pursuant to this Subsection 3.2 to provide access to any information that it reasonably and in good faith considers to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in form acceptable to the Company) or the disclosure of which would adversely affect the attorney-client privilege between the Company and its counsel. 

3.3Termination of Information Rights.  The covenants set forth in Subsections 3.1 and 3.2 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon the closing of a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, whichever event occurs first.  

3.4Confidentiality.  Each Investor agrees that such Investor will keep confidential and will not disclose, divulge, or use for any purpose (other than to monitor its investment in the Company) any confidential information obtained from the Company pursuant to the terms of this Agreement (including notice of the Company’s intention to file a registration statement), unless such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this Section 3.4 by such Investor), (b) is or has been independently developed or conceived by such Investor without use of the Company’s confidential information, or (c) is or has been made known or disclosed to such Investor by a third party without a breach of any obligation of confidentiality such third party may have to the Company; provided, however, that an Investor may disclose confidential information (i) to its attorneys, accountants, consultants, and other professionals to the extent necessary to obtain their services in connection with monitoring its investment in the Company; (ii) to any prospective purchaser of any Registrable Securities from such Investor, if such prospective purchaser agrees to be bound by the provisions of this Section 3.4; (iii) to any Affiliate, partner, member, stockholder, or wholly owned subsidiary of such Investor in the ordinary course of business, provided that such Investor informs such Person that such information is confidential and directs such Person to maintain the confidentiality of such information; or (iv) as may otherwise be required by law, regulation, rule, court order or subpoena, provided that such Investor promptly notifies the Company of such disclosure and takes reasonable steps to minimize the extent of any such required disclosure.

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4.Rights to Future Stock Issuances.

4.1Right of First Offer. Subject to the terms and conditions of this Subsection 4.1 and applicable securities laws, if the Company proposes to offer or sell any New Securities, the Company shall first offer such New Securities to each Major Investor. A Major Investor shall be entitled to apportion the right of first offer hereby granted to it in such proportions as it deems appropriate, among (i) itself and (ii) its Affiliates; provided that each such Affiliate (x) is not a Competitor or FOIA Party, unless such party’s purchase of New Securities is otherwise consented to by the Board of Directors, (y) agrees to enter into this Agreement and each of the Voting Agreement and Right of First Refusal and Co-Sale Agreement of even date herewith among the Company, the Investors and the other parties named therein, as an “Investor” under each such agreement (provided that any FOIA Party shall not be entitled to any rights as a Major Investor under this Section 4.1), and (z) agrees to purchase at least such number of New Securities as are allocable hereunder to the Major Investor holding the fewest number of Preferred Stock and any other Derivative Securities.

(a)The Company shall give notice (the “Offer Notice”) to each Major Investor, stating (i) its bona fide intention to offer such New Securities, (ii) the number of such New Securities to be offered, and (iii) the price and terms, if any, upon which it proposes to offer such New Securities.

(b)By notification to the Company within twenty (20) days after the Offer Notice is given, each Major Investor may elect to purchase or otherwise acquire, at the price and on the terms specified in the Offer Notice, up to that portion of such New Securities which equals the proportion that the Common Stock then held by such Major Investor (including all shares of Common Stock then issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Preferred Stock and any other Derivative Securities then held by such Major Investor) bears to the total Common Stock of the Company then outstanding (assuming full conversion and/or exercise, as applicable, of all Preferred Stock and any other Derivative Securities then outstanding). At the expiration of such twenty (20) day period, the Company shall promptly notify each Major Investor that elects to purchase or acquire all the shares available to it (each, a “Fully Exercising Investor”) of any other Major Investor’s failure to do likewise. During the ten (10) day period commencing after the Company has given such notice, each Fully Exercising Investor may, by giving notice to the Company, elect to purchase or acquire, in addition to the number of shares specified above, up to that portion of the New Securities for which Major Investors were entitled to subscribe but that were not subscribed for by the Major Investors which is equal to the proportion that the Common Stock issued and held, or issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of Preferred Stock and any other Derivative Securities then held, by such Fully Exercising Investor bears to the Common Stock issued and held, or issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Preferred Stock and any other Derivative Securities then held, by all Fully Exercising Investors who wish to purchase such unsubscribed shares. The closing of any sale pursuant to this Subsection 4.1(b) shall occur within the later of ninety (90) days of the date that the Offer Notice is given and the date of initial sale of New Securities pursuant to Subsection 4.1(c).

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(c)If all New Securities referred to in the Offer Notice are not elected to be purchased or acquired as provided in Subsection 4.1(b), the Company may, during the ninety (90) day period following the expiration of the periods provided in Subsection 4.1(b), offer and sell the remaining unsubscribed portion of such New Securities to any Person or Persons at a price not less than, and upon terms no more favorable to the offeree than, those specified in the Offer Notice. If the Company does not enter into an agreement for the sale of the New Securities within such period, or if such agreement is not consummated within thirty (30) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the Major Investors in accordance with this Subsection 4.1.

(d)The right of first offer in this Subsection 4.1 shall not be applicable to (i) Exempted Securities (as defined in the Certificate of Incorporation); (ii) shares of Common Stock issued in the IPO; and (iii) the issuance of shares of Preferred Stock to Additional Purchasers pursuant to Subsection 1.3 of the Purchase Agreement.

4.2Termination. The covenants set forth in Subsection 4.1 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon the closing of a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, whichever event occurs first.

5.Additional Covenants.

5.1Insurance. The Company shall obtain, within ninety (90) days of the date hereof, from financially sound and reputable insurers Directors and Officers liability insurance, in an amount and on terms and conditions satisfactory to the Board of Directors, including the Series B Director, and will use commercially reasonable efforts to cause such insurance policy to be maintained until such time as the Board of Directors, including the Series B Director, determines that such insurance should be discontinued. The policy shall not be cancelable by the Company without prior approval by the Board of Directors, including the Series B Director. 

5.2Employee Agreements. The Company will cause each current employee and consultant to enter into a nondisclosure and proprietary rights assignment agreement in a form reasonably acceptable to the Series B Director; and each Key Employee to enter into a noncompetition and nonsolicitation agreement in a form reasonably acceptable to the Series B Director.

5.3Employee Stock. Unless otherwise approved by the Board of Directors, including the Series B Director, all future employees and consultants of the Company who purchase, receive options to purchase, or receive awards of shares of the Company’s capital stock after the date hereof shall be required to execute restricted stock or option agreements, as applicable, providing for (i) vesting of shares over a four (4) year period, with the first twenty-five percent (25%) of such shares vesting following twelve (12) months of continued employment or service, and the remaining shares vesting in equal monthly installments over the following thirty-six (36) months, and (ii) a market stand-off provision substantially similar to that in Subsection 2.11.

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5.4Matters Requiring Investor Director Approval. So long as the holders of Series B Preferred Stock are entitled to elect a Series B Director, the Company hereby covenants and agrees with each of the Investors that it shall not, without approval of the Board of Directors, which approval must include the affirmative vote of the Series B Director:

(a)hire, terminate, or change the compensation of any executive officer or senior manager who is a direct report to the chief executive officer, including approving any option grants or stock awards to executive officers;

(b)enter into any agreement for the lease or acquisition of facilities or real property; 

(c)make, or permit any subsidiary to make, any loan or advance to, or own any stock or other securities of, any subsidiary or other corporation, partnership, or other entity unless it is wholly owned by the Company;

(d)make, or permit any subsidiary to make, any loan or advance to any Person, including, without limitation, any employee or director of the Company or any subsidiary, except advances and similar expenditures in the ordinary course of business or under the terms of an employee stock or option plan approved by the Board of Directors;

(e)guarantee, directly or indirectly, or permit any subsidiary to guarantee, directly or indirectly, any indebtedness except for trade accounts of the Company or any subsidiary arising in the ordinary course of business; 

(f)make any investment inconsistent with any investment policy approved by the Board of Directors; 

(g)incur any aggregate indebtedness in excess of $1,000,000 that is not already included in a budget approved by the Board of Directors, other than trade credit incurred in the ordinary course of business; 

(h)otherwise enter into or be a party to any transaction with any director, officer, or employee of the Company or any “associate” (as defined in Rule 12b-2 promulgated under the Exchange Act) of any such Person, except for transactions contemplated by this Agreement and the Purchase Agreement; 

(i)sell, assign, license, pledge, or encumber material technology or intellectual property, other than licenses granted in the ordinary course of business; or

(j)enter into any corporate strategic relationship involving the payment, contribution, or assignment by the Company or to the Company of money or assets greater than $250,000.  

5.5Board Matters.  Unless otherwise determined by the vote of a majority of the directors then in office, including the Series B Director, the Board of Directors shall meet at least quarterly in accordance with an agreed-upon schedule.  The Company shall reimburse the nonemployee directors for all reasonable out-of-pocket travel expenses incurred (consistent with the Company’s travel policy) in connection with attending meetings of the Board of Directors. The Series B Director shall be entitled in such person’s discretion to be a member of any committee of the Board of Directors. 

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5.6Successor Indemnification. If the Company or any of its successors or assignees consolidates with or merges into any other Person and is not the continuing or surviving corporation or entity of such consolidation or merger, then to the extent necessary, proper provision shall be made so that the successors and assignees of the Company assume the obligations of the Company with respect to indemnification of members of the Board of Directors as in effect immediately before such transaction, whether such obligations are contained in the Company’s Bylaws, the Certificate of Incorporation, or elsewhere, as the case may be.

5.7Indemnification Matters. The Company hereby acknowledges that one (1) or more of the directors nominated to serve on the Board of Directors by the Investors (each an “Investor Director”) may have certain rights to indemnification, advancement of expenses and/or insurance provided by one or more of the Investors and certain of their Affiliates (collectively, the “Investor Indemnitors”). The Company hereby agrees (a) that it is the indemnitor of first resort (i.e., its obligations to any such Investor Director are primary and any obligation of the Investor Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by such Investor Director are secondary), (b) that it shall be required to advance the full amount of expenses incurred by such Investor Director and shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement by or on behalf of any such Investor Director to the extent legally permitted and as required by the Company’s Certificate of Incorporation or Bylaws of the Company (or any agreement between the Company and such Investor Director), without regard to any rights such Investor Director may have against the Investor Indemnitors, and, (c) that it irrevocably waives, relinquishes and releases the Investor Indemnitors from any and all claims against the Investor Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the Investor Indemnitors on behalf of any such Investor Director with respect to any claim for which such Investor Director has sought indemnification from the Company shall affect the foregoing and the Investor Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of such Investor Director against the Company. The Investor Directors and the Investor Indemnitors are intended third‐party beneficiaries of this Subsection 5.7 and shall have the right, power and authority to enforce the provisions of this Subsection 5.7 as though they were a party to this Agreement.

5.8Right to Conduct Activities. The Company hereby agrees and acknowledges that each of Perceptive Life Sciences Master Fund Ltd. (together with its Affiliates),RTW (together with its Affiliates), and Rock Springs Capital Master Fund LP and Four Pines Master Fund LP, and Franklin (together with its Affiliates), (collectively, the “Professional Investment Organizations”) is a professional investment organization, and as such reviews the business plans and related proprietary information of many enterprises, some of which may compete directly or indirectly with the Company’s business (as currently conducted or as currently propose to be conducted). The Company hereby agrees that, to the extent permitted under applicable law, the Professional Investment Organizations shall not be liable to the Company for any claim arising out of, or based upon, (i) the investment by such Professional Investment Organization in any entity competitive with the Company, or (ii) actions taken by any partner, officer, employee or other representative of such Professional Investment Organization to assist any such competitive company, whether or not such action was taken as a member of the board of directors of such competitive company or otherwise, and whether or not such action has a detrimental effect on the Company; provided, however, that the foregoing shall not relieve (x) any of the Investors from liability associated with the unauthorized disclosure of the Company’s confidential information obtained pursuant to this Agreement, or (y) any director or officer of the Company from any liability associated with his or her fiduciary duties to the Company.

20

 

5.9Termination of Covenants. The covenants set forth in this Section 5, except for Subsections 5.6 or 5.7, shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, whichever event occurs first.

6.Miscellaneous.

6.1Successors and Assigns. The rights under this Agreement may be assigned (but only with all related obligations) by a Holder to a transferee of Registrable Securities that (i) is an Affiliate of a Holder; (ii) is a Holder’s Immediate Family Member or trust for the benefit of an individual Holder or one or more of such Holder’s Immediate Family Members; or (iii) after such transfer, holds at least 500,000 shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations, and other recapitalizations); provided, however, that (x) the Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee and the Registrable Securities with respect to which such rights are being transferred; and (y) such transferee agrees in a written instrument delivered to the Company to be bound by and subject to the terms and conditions of this Agreement, including the provisions of Subsection 2.11. For the purposes of determining the number of shares of Registrable Securities held by a transferee, the holdings of a transferee (1) that is an Affiliate or stockholder of a Holder; (2) who is a Holder’s Immediate Family Member; or (3) that is a trust for the benefit of an individual Holder or such Holder’s Immediate Family Member shall be aggregated together and with those of the transferring Holder; provided further that all transferees who would not qualify individually for assignment of rights shall, as a condition to the applicable transfer, establish a single attorney-in-fact for the purpose of exercising any rights, receiving notices, or taking any action under this Agreement. The terms and conditions of this Agreement inure to the benefit of and are binding upon the respective successors and permitted assignees of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted assignees any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided herein.

6.2Governing Law. This Agreement shall be governed by the internal law of the State of Delaware, without regard to conflict of law principles that would result in the application of any law other than the law of the State of Delaware.

6.3Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

21

 

6.4Titles and Subtitles. The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting this Agreement.

6.5Notices.

(a)All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt or (i) personal delivery to the party to be notified; (ii) when sent, if sent by electronic mail during the recipient’s normal business hours, and if not sent during normal business hours, then on the recipient’s next business day; (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (iv) one (1) business day after the business day of deposit with a nationally recognized overnight courier, freight prepaid, specifying next-day delivery, with written verification of receipt. All communications shall be sent to the respective parties at their addresses as set forth on Schedule A or Schedule B (as applicable) hereto, or to the principal office of the Company and to the attention of the Chief Executive Officer, in the case of the Company, or to such email address or address as subsequently modified by written notice given in accordance with this Subsection 6.5. If notice is given to the Company, a copy shall also be sent to Wilson Sonsini Goodrich & Rosati, P.C., 701 Fifth Avenue, Suite 5100, Seattle, WA 98104-7036; Attention: Michael Nordtvedt, and if notice is given to the Investors, a copy shall also be given to Goodwin Procter LLP, New York Times Bldg, 620 8th Avenue, New York, NY 10018; Attention: Daniel Lang.

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

6.6Amendments and Waivers. Any term of this Agreement may be amended, modified 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) only with the written consent of the Company and the holders of at least a majority of the Registrable Securities then outstanding; provided that the Company may in its sole discretion waive compliance with Subsection 2.12(c) (and the Company’s failure to object promptly in writing after notification of a proposed assignment allegedly in violation of Subsection 2.12(c) shall be deemed to be a waiver); and provided further that any provision hereof may be waived by any waiving party on such party’s own behalf, without the consent of any other party. Notwithstanding the foregoing, (a) this Agreement may not be amended, modified or terminated and the observance of any term hereof may not be waived with respect to any Investor without the written consent of such Investor, unless such amendment, modification, termination, or waiver applies to all Investors in the same fashion (it being agreed that a waiver of the provisions of Section 4 with respect to a particular transaction shall be deemed to apply to all Investors in the same fashion if such waiver does so by its terms, notwithstanding the fact that certain Investors may nonetheless, by agreement with the Company, purchase securities in such transaction) ; provided, however, that if the provisions of Section 4 are waived in accordance with this Section 6.6, and one or more Major Investors nonetheless participates in the purchase of New Securities from the Company for which the provisions of Section 4 of this Agreement were waived, then each Major Investor entitled to rights under Section 

22

 

4 will be given the opportunity under Section 4 to purchase its pro rata share of any New Securities made available for purchase by the Major Investors in such transaction; provided further, that the preceding proviso and this proviso may not be amended, waived or terminated without the written consent of each Major Investor) and (b) Section 3, Section 4 and any other section of this Agreement applicable to the Major Investors (including this clause (b) of this Subsection 6.6) may not be amended, modified, terminated or waived without the written consent of the holders of at least a majority of the Registrable Securities then outstanding and held by the Major Investors. Further, this Agreement may not be amended, modified or terminated, and no provision may be waived, in each case, in any way which would adversely affect the rights of the Key Holders hereunder in a manner disproportionate to any adverse effect such amendment, modification, termination or waiver would have on the rights of the Investors hereunder, without also the written consent of the holders of at least a majority of the Registrable Securities held by the Key Holders.  Notwithstanding the foregoing, Schedule A hereto may be amended by the Company from time to time to add transferees of any Registrable Securities in compliance with the terms of this Agreement without the consent of the other parties; and Schedule A hereto may also be amended by the Company after the date of this Agreement without the consent of the other parties to add information regarding any additional Investor who becomes a party to this Agreement in accordance with Subsection 6.9. The Company shall give prompt notice of any amendment, modification or termination hereof or waiver hereunder to any party hereto that did not consent in writing to such amendment, modification, termination, or waiver. Any amendment, modification, termination, or waiver effected in accordance with this Subsection 6.6 shall be binding on all parties hereto, regardless of whether any such party has consented thereto. 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.

6.7Severability. In case any one or more of the provisions contained in this Agreement is for any reason held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement, and such invalid, illegal, or unenforceable provision shall be reformed and construed so that it will be valid, legal, and enforceable to the maximum extent permitted by law.

6.8Aggregation of Stock. All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such rights as among themselves in any manner they deem appropriate.

6.9Additional Investors. Notwithstanding anything to the contrary contained herein, if the Company issues additional shares of the Company’s Preferred Stock after the date hereof, any purchaser of such shares of Preferred Stock may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement, and thereafter shall be deemed an “Investor” for all purposes hereunder. No action or consent by the Investors shall be required for such joinder to this Agreement by such additional Investor, so long as such additional Investor has agreed in writing to be bound by all of the obligations as an “Investor” hereunder.

23

 

6.10Entire Agreement. This Agreement (including any Schedules and Exhibits hereto), the Certificate of Incorporation and the other Transaction Agreements (as defined in the Purchase Agreement) constitute the full and entire understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled.

6.11Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of Delaware and to the jurisdiction of the United States District Court for the District of Delaware for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the state courts of Delaware or the United States District Court for the District of Delaware, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court.

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

6.12Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of such nonbreaching or nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any such breach or default, or to any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. All remedies, whether under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.

6.13Waiver. The Investors hereby waive any and all rights they may have with respect to the Company’s issuance of shares of Series B Preferred Stock, Series B-1 Preferred Stock and shares of Common Stock issuable upon conversion thereof.  

24

 

 

(Signature page follows)

25

 

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

 

 

	
	
COMPANY

	
 

	
 

	
/s/ Leen Kawas

	
(Signature)

	
 

	
 

	
Leen Kawas

	
(Print name)

	
 

	
 

	
CEO and President

	
(Print title)

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Altmayer Family Investments, LLC

	
 

	
 

	
By:
	
 
	
/s/ Magnus Stephen Altmayer

	
 
	
 
	
 

	
Printed Name:
	
 
	
Magnus Stephen Altmayer

	
 
	
 
	
 

	
Title:
	
 
	
Manager

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Alzheimer’s Drug Discovery Foundation

	
 

	
 

	
By:
	
 
	
/s/ Howard Fillit

	
 
	
 
	
 

	
Printed Name:
	
 
	
Howard Fillit

	
 
	
 
	
 

	
Title:
	
 
	
Chief Science Officer

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
BuildServ Washington LLC

	
 

	
 

	
By:
	
 
	
/s/ Brad Brickman

	
 
	
 
	
 

	
Printed Name:
	
 
	
John Bradley Brickman

	
 
	
 
	
 

	
Title:
	
 
	
Manager

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Carol Criner

	
Carol Criner

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

				
	
INVESTOR

	
 

	
Challenger Cable Sales Inc.

	
 

	
 

	
By:
	
 
	
/s/ Glenn Duvall

	
 
	
 
	
Glenn Duvall

	
 
	
 
	
 

	
Title:
	
 
	
President

 

 

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Charles Collins

	
Charles Collins

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ David Cadennead

	
David Cadennead

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Dolby Family Ventures, LP

	
 

	
 

	
By:
	
 
	
/s/ Pascal N Levensohn

	
 
	
 
	
 

	
Printed Name:
	
 
	
Pascal N Levensohn

	
 
	
 
	
 

	
Title:
	
 
	
Senior Managing Director, Dolby Family

	
Ventures, LP

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Dorothy A Fluke

	
Dorothy A Fluke

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Doug Hampson

	
Doug Hampson

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
D-W Investments LLC

	
 

	
 

	
By:
	
 
	
/s/ James W. DeYoung

	
 
	
 
	
 

	
Printed Name:
	
 
	
James W. DeYoung

	
 
	
 
	
 

	
Title:
	
 
	
Managing Member

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Eddie Poplawski

	
Eddie Poplawski

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Equity Trust Company Custodian FBO

Rachel Amber Caska IRA

	
 

	
 

	
By:
	
 
	
/s/ Rachel Amber Caska

	
 
	
 
	
 

	
Printed Name:
	
 
	
Rachel Amber Caska

	
 
	
 
	
 

	
Title:
	
 
	
Investor

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Eumorphic LLC

	
 

	
 

	
By:
	
 
	
/s/ Bassem Bejjani

	
 
	
 
	
 

	
Printed Name:
	
 
	
Bassem Bejjani

	
 
	
 
	
 

	
Title:
	
 
	
Manager

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

				
	
INVESTOR

	
 

	
Evergreen Point Foundation

	
 

	
 

	
By:
	
 
	
/s/ William D. Savoy

	
 
	
 
	
William D. Savoy

	
 
	
 
	
 

	
Title:
	
 
	
President

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Hunt Family Living Trust

	
 

	
 

	
By:
	
 
	
/s/ James K. Hunt

	
 
	
 
	
 

	
Printed Name:
	
 
	
James K. Hunt

	
 
	
 
	
 

	
Title:
	
 
	
Trustee, Hunt Living Trust

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ James E. Wargone

	
James E. Wargone

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

			
	
INVESTOR

	
 

	
The Jamie Trust dated 5/30/11

	
 

	
 

	
By:
	
 
	
/s/ Jamie McCourt

	
 
	
 
	
Jamie McCourt, Trustee

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

				
	
INVESTOR

	
 

	
John C. Rosling and Jean D. Rosling, Co-Trustees of the Jean and John Rosling Revocable Trust

	
 

	
 

	
By:
	
 
	
/s/ John C. Rosling

	
 
	
 
	
John C. Rosling

	
 
	
 
	
 

	
Title:
	
 
	
Co-Trustee

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ John M. Fluke, Jr.

	
John M. Fluke, Jr

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Joseph W. Harding

	
Joseph W. Harding

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Richard & Suzanne Kayne Living Trust

	
 

	
 

	
By:
	
 
	
/s/ Richard Kayne

	
 
	
 
	
 

	
Printed Name:
	
 
	
Richard Kayne

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Leah J. Altmayer Trust

	
 

	
 

	
By:
	
 
	
/s/ Leah Altmayer Berclaz

	
 
	
 
	
 

	
Printed Name:
	
 
	
Leah Altmayer Berclaz

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
LGI, LLC

	
 

	
 

	
By:
	
 
	
/s/ Evelyn M. Lynn

	
 
	
 
	
 

	
Printed Name:
	
 
	
Evelyn M. Lynn

	
 
	
 
	
 

	
Title:
	
 
	
Stockholder

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Lynne S. Fluke

	
Lynne S. Fluke

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Magnus A. Altmayer Trust

	
 

	
 

	
By:
	
 
	
/s/ Magnus A. Altmayer

	
 
	
 
	
 

	
Printed Name:
	
 
	
Magnus A. Altmayer

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Magnus S. Altmayer and Andrea Altmayer

	
 

	
 

	
By:
	
 
	
/s/ Magnus Stephen Altmayer

	
 
	
 
	
 

	
Printed Name:
	
 
	
Magnus Stephen Altmayer

	
 
	
 
	
 

	
Title:
	
 
	
Individual

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Mark Stegemoeller

	
Mark Stegemoeller

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Michael Hilton

	
Michael Hilton

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Michael Nassirian

	
Michael Nassirian

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Mike Flynn

	
Mike Flynn

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

				
	
INVESTOR

	
 

	
Montgomery Revocable Trust

	
 

	
 

	
By:
	
 
	
/s/ Michael Montgomery

	
 
	
 
	
Michael Montgomery

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

				
	
INVESTOR

	
 

	
MontyM3 LLC

	
 

	
 

	
By:
	
 
	
/s/ Bruce Montgomery

	
 
	
 
	
Bruce Montgomery

	
 
	
 
	
 

	
Title:
	
 
	
Manager

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Morris Holdings LLC

	
 

	
 

	
By:
	
 
	
/s/ John C Morris

	
 
	
 
	
 

	
Printed Name:
	
 
	
John C Morris

	
 
	
 
	
 

	
Title:
	
 
	
Managing Member

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Morris Ventures, Inc.

	
 

	
 

	
By:
	
 
	
/s/ John C Morris

	
 
	
 
	
 

	
Printed Name:
	
 
	
John C Morris

	
 
	
 
	
 

	
Title:
	
 
	
President

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Pamela Pearson

	
Pamela Pearson

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Paul Keenan

	
Paul Keenan

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Robert Anderson

	
Robert Anderson

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Robert Sinnott 2017 GRAT

	
 

	
 

	
By:
	
 
	
/s/ John Sinnott

	
 
	
 
	
 

	
Printed Name:
	
 
	
John Sinnott

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Skye Annabel Montgomery 2012 Trust

	
 

	
 

	
By:
	
 
	
/s/ James W Montgomery

	
 
	
 
	
 

	
Printed Name:
	
 
	
James W Montgomery

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Storybook Partners, LLC

	
 

	
 

	
By:
	
 
	
/s/ Geda Maso Condit

	
 
	
 
	
 

	
Printed Name:
	
 
	
Geda Maso Condit

	
 
	
 
	
 

	
Title:
	
 
	
Manager

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
The Cimler Family Trust dated June 22, 2007

	
 

	
 

	
By:
	
 
	
/s/ B. Melina Cimler

	
 
	
 
	
 

	
Printed Name:
	
 
	
B. Melina Cimler

	
 
	
 
	
 

	
Title:
	
 
	
Trustee of the Cimler Famly Trust

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
The James W. Montgomery 2012 Family Trust

	
 

	
 

	
By:
	
 
	
/s/ James W Montgomery

	
 
	
 
	
 

	
Printed Name:
	
 
	
James W Montgomery

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
The W Fund, LP

	
 

	
 

	
By:
	
 
	
/s/ Linden Rhoads

	
 
	
 
	
 

	
Printed Name:
	
 
	
Linden Rhoads

	
 
	
 
	
 

	
Title:
	
 
	
General Manager

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Tome Andrade

	
Tome Andrade

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Washington Research Foundation

	
 

	
 

	
By:
	
 
	
/s/ Jeff Eby

	
 
	
 
	
 

	
Printed Name:
	
 
	
Jeff Eby

	
 
	
 
	
 

	
Title:
	
 
	
CFO

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Wilbur H. Gantz III Revocable Trust

	
 

	
 

	
By:
	
 
	
/s/ Bill Gantz

	
 
	
 
	
 

	
Printed Name:
	
 
	
Bill Gantz

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ William D. Savoy

	
William D. Savoy

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

 

 

						
	
INVESTOR

	
 

	
Kayne Living Trust

	
 

	
 

	
By:
	
 
	
/s/ Richard Kayne

	
 
	
 
	
 

	
Printed Name:
	
 
	
Richard Kayne

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Lansing J. Stewart

	
Lansing J. Stewart

 

Signature Page To Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Bryan White

	
Bryan White

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

	
INVESTOR

	
 
	
 
	
 
	
 

	
Cornova LLC

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
By:
	
 
	
/s/ Christopher Damico

	
 
	
 

	
Printed Name:
	
Christopher Damico

	
 
	
 
	
 
	
 

	
Title:
	
 
	
Member

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Alvin J. Hilario

	
Alvin J. Hilario

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
Fluke Capital Management, L.P.

	
 

	
 

	
By:
	
 
	
/s/ Kevin Gabelein

	
 
	
 
	
 

	
Printed Name:
	
 
	
Kevin Gabelein

	
 
	
 
	
 

	
Title:
	
 
	
President

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
Primer-Capital I LP

	
 

	
 

	
By:
	
 
	
Primer Capital Partners, its General Partner

	
 
	
 
	
 

	
By:
	
 
	
/s/ Sean Inggs

	
 
	
 
	
 

	
Printed Name:
	
 
	
Sean Inggs

	
 
	
 
	
 

	
Title:
	
 
	
Director

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Richard Sudek

	
Richard Sudek

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Norm Bontje

	
Norm Bontje

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Mark Litton and Alicia Litton

	
Mark Litton and Alicia Litton

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
Irrevocable Trust of OSL

	
 

	
 

	
By:
	
 
	
/s/ Steven Steury

	
 
	
 
	
Steve Steury

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
Irrevocable Trust of SWL

	
 

	
 

	
By:
	
 
	
/s/ Steven Steury

	
 
	
 
	
Steve Steury

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
Irrevocable Trust of WGL

	
 

	
 

	
By:
	
 
	
/s/ Steven Steury

	
 
	
 
	
Steve Steury

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
Buena Vista Three Investment Corp.

	
 

	
 

	
By:
	
 
	
/s/ Kenneth Iscol

	
 
	
 
	
 

	
Printed Name:
	
 
	
Kenneth Iscol

	
 
	
 
	
 

	
Title:
	
 
	
Partner

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
WRF Capital

	
 

	
 

	
By:
	
 
	
/s/ Jeff Eby

	
 
	
 
	
 

	
Printed Name:
	
 
	
Jeff Eby

	
 
	
 
	
 

	
Title:
	
 
	
CFO

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

				
	
INVESTOR

	
 

	
Perceptive Life Sciences Master Fund Ltd.

	
 

	
 

	
By:
	
 
	
/s/ James H. Mannix

	
 
	
 
	
James H. Mannix

	
 
	
 
	
 

	
Title:
	
 
	
COO

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
RTW MASTER FUND, LTD.

	
 

	
 

	
By:
	
 
	
/s/ Roderick Wong

	
 
	
 
	
Roderick Wong, M.D., Director

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
The Margaret River Springs QST

	
 

	
 

	
By:
	
 
	
/s/ Patricia Totaro

	
 
	
 
	
 

	
Printed Name:
	
 
	
Patricia Totaro

	
 
	
 
	
 

	
Title:
	
 
	
Trustee, The Margaret River Springs QST

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
Jonathan E. Fielding Living Trust

	
 

	
 

	
By:
	
 
	
/s/ Jonathan Fielding

	
 
	
 
	
 

	
Printed Name:
	
 
	
Jonathan Fielding Trust

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
Rock Springs Capital Master
Fund LP

	
 

	
 

	
By:
	
 
	
Rock Springs General Partner LLC, its General Partner

	
 
	
 
	
 

	
By:
	
 
	
/s/ Mark Bussard

	
 
	
 
	
 

	
Printed Name:
	
 
	
Mark Bussard

	
 
	
 
	
 

	
Title:
	
 
	
Member

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

				
	
INVESTOR

	
 

	
Ditch Plains Private Investments LP

	
 

	
 

	
By:
	
 
	
/s/ Mark Varrichio

	
 
	
 
	
Mark Varrichio

	
 
	
 
	
 

	
Title:
	
 
	
Managing Partner

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
FOUR PINES MASTER FUND LP

	
 

	
 

	
By:
	
 
	
Four Pines General Partner LLC, its General Partner

	
 
	
 
	
 

	
By:
	
 
	
/s/ Mark Bussard

	
 
	
 
	
 

	
Printed Name:
	
 
	
Mark Bussard

	
 
	
 
	
 

	
Title:
	
 
	
Member

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
Janus Henderson Horizon Fund – 
Biotechnology Fund

	
 

	
 

	
By:
	
 
	
Janus Capital Management LLC, its investment advisor

	
 
	
 
	
 

	
By:
	
 
	
/s/ Andrew Acker

	
 
	
 
	
Andrew Acker, Authorized Signatory

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
Avidity Master Fund LP

	
 

	
 

	
By:
	
 
	
Avidity Capital Partners Fund (GP) LP

	
 
	
 
	
 

	
By:
	
 
	
Avidity Capital Partners (GP) LLC, its General Partner

	
 
	
 
	
 

	
By:
	
 
	
/s/ Michael Gregory

	
 
	
 
	
Michael Gregory, Managing Member

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Tai-Li Chang

	
Tai-Li Chang

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Mark F. Worthington

	
Mark Worthington

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Eugene Kim

	
Eugene Kim

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Peter Neuwirth

	
Peter Neuwirth

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
LifeSci Venture Partners II, LP

	
 

	
 

	
By:
	
 
	
/s/ Paul Yook

	
 
	
 
	
Paul Yook, Managing Member

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
LifeSci Venture Master SPV, LLC

	
 

	
 

	
By:
	
 
	
/s/ Paul Yook

	
 
	
 
	
Paul Yook, Managing Member

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Sherman Griffin

	
Sherman Griffin

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
/s/ Curtis S. Lane

	
 

	
Printed Name:
	
 
	
Curtis S. Lane

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
/s/ Andrew J. Weisenfeld

	
 

	
Printed Name:
	
 
	
Andrew J. Weisenfeld

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
Janus Henderson Biotech Innovation Master
Fund Limited

	
 

	
 

	
By:
	
 
	
Janus Capital Management LLC, its investment advisor

	
 
	
 
	
 

	
By:
	
 
	
/s/ Andrew Acker

	
 
	
 
	
Andrew Acker, Authorized Signatory

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
The Mohn Family Trust

	
 

	
 

	
By:
	
 
	
/s/ Jarl Mohn

	
 
	
 
	
Jarl Mohn, Trustee

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
Venrock Healthcare Capital Partners III, L.P

	
 

	
 

	
By:
	
 
	
VHCP Management III, LLC, its General Partner

	
 
	
 
	
 

	
By:
	
 
	
/s/ Nimish Shah

	
 
	
 
	
Nimish Shah

	
 
	
 
	
 

	
Title:
	
 
	
Partner

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
VHCP Co-Investment Holdings III, LLC

	
 

	
 

	
By:
	
 
	
VHCP Management III, LLC

	
 
	
 
	
 

	
By:
	
 
	
/s/ Nimish Shah

	
 
	
 
	
Nimish Shah

	
 
	
 
	
 

	
Title:
	
 
	
Partner

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Linden Rhoads

	
Linden Rhoads

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
Howard Murad Revocable Trust

	
 

	
 

	
By:
	
 
	
/s/ Howard Murad

	
 
	
 
	
Howard Murad, Trustee

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

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

INVESTOR

	
	
/s/ Anthony Lo and Susan Scanlan

	
Anthony Lo and Susan Scanlan

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Adam Cathey

	
Adam Cathey

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Justin Findley

	
Justin Findley

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
Alphacentric LifeSci Healthcare Fund

	
 

	
 

	
By:
	
 
	
Mutual Fund Series Trust, on its behalf

	
 
	
 
	
 

	
By:
	
 
	
/s/ Erik Naviloff

	
 
	
 
	
Erik Naviloff, Treasurer

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
Susskind Family Trust

	
 

	
 

	
By:
	
 
	
/s/ Jeffrey Susskind

	
 
	
 
	
Jeffrey Susskind, Trustee

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
The Moise Emquies Trust dated 2/15/2019

	
 

	
 

	
By:
	
 
	
/s/ Moise Emquies

	
 
	
 
	
Moise Emquies

	
 
	
 
	
 

	
Title:
	
 
	
Manager

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
RTW Innovation Master Fund, LTD.

	
 

	
 

	
By:
	
 
	
/s/ Roderick Wong

	
 
	
 
	
Roderick Wong, M.D., Director

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
RTW Venture Fund Limited

	
 

	
 

	
By:
	
 
	
RTW Investments, LP, its Investment Manager

	
 
	
 
	
 

	
By:
	
 
	
/s/ Roderick Wong

	
 
	
 
	
Roderick Wong, M.D., Managing Partner

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Brian Arbogast

	
Brian Arbogast

 

Signature Page to A&R Investors’ Rights Agreement

 

 
 

 

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

 

 

			
	
INVESTOR

	
 

	
Citadel Multi-Strategy Equities Master Fund LTD.

	
 

	
 

	
By:
	
 
	
Citadel Advisors LLC, its portfolio manager

	
 
	
 
	
 

	
By:
	
 
	
/s/ Noah Goldberg

	
 
	
 
	
 

	
Name:
	
 
	
Noah Goldberg

	
Title:
	
 
	
Authorized Signatory

 

 

 

Signature Page to Investors’ Rights Agreement

 

 

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

INVESTOR

Franklin Strategic Series – 
Franklin Biotechnology Discovery Fund

	
	
By: Franklin Advisers, as investment manager

	
(Print Investor name)

	
/s/ Evan McCulloch

	
(Signature)

	
Evan McCulloch

	
(Print name of signatory, if signing for an entity)

	
Senior Vice President

	
(Print title of signatory, if signing for an entity)

 

Signature Page to Investors’ Rights Agreement

 

 

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

INVESTOR

Franklin Templeton Investment
Funds – Franklin Biotechnology
Discovery Fund

	
	
By: Franklin Advisers, as investment manager

	
(Print Investor name)

	
/s/ Evan McCulloch

	
(Signature)

	
Evan McCulloch

	
(Print name of signatory, if signing for an entity)

	
Senior Vice President

	
(Print title of signatory, if signing for an entity)

 

Signature Page to Investors’ Rights Agreement

 

 

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

 

 

				
	
INVESTOR

	
 

	
Viking Global Opportunities Illiquid Investments Sub-Master LP

	
 

	
 

	
By:
	
 
	
Viking Global Opportunities Portfolio GP LLC, its general partner

	
 
	
 
	
 

	
By:
	
 
	
/s/ Matthew Bloom

	
Name:
	
 
	
Matthew Bloom

	
Title:
	
 
	
Authorized Signatory

 

 

 

Signature Page to Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
 

	
Logos Opportunities Fund II. L.P.

	
 

	
By:
	
 
	
Logos Opportunities GP, LLC, its General Partner

	
 
	
 
	
 

	
By:
	
 
	
/s/ Graham Walmsley

	
 
	
 
	
Graham Walmsley, Manager

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
Sofinnova Venture Partners X, L.P.

	
 

	
 

	
By:
	
 
	
Sofinnova Management X, L.L.C., its General Partner

	
 
	
 
	
 

	
By:
	
 
	
/s/ Maha Katabi

	
 
	
 
	
 

	
Printed Name:
	
 
	
Maha Katabi

	
 
	
 
	
 

	
Title:
	
 
	
Managing Member

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

				
	
INVESTOR

	
 

	
The Heath and Carrie Lukatch Revocable
Family Trust

	
 

	
 

	
By:
	
 
	
/s/ Heath Lukatch

	
 
	
 
	
Heath Lukatch

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

			
	
INVESTOR

	
 

	
Avidity Capital Fund II LP

	
 

	
 

	
By:
	
 
	
Avidity Capital Partners Fund (GP) LP

	
 
	
 
	
 

	
By:
	
 
	
Avidity Capital Partners (GP) LLC, its General Partner

	
 
	
 
	
 

	
By:
	
 
	
/s/ Michael Gregory

	
 
	
 
	
Michael Gregory, Managing Member

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

KEY HOLDER

	
	
/S/ Leen Kawas

	
Leen Kawas

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
KEY HOLDER

	
 

	
Hamdan Family GST Trust

	
 

	
 

	
By:
	
 
	
/s/ Latifa Qayoum

	
 
	
 
	
 

	
Printed Name:
	
 
	
Latifa Qayoum

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
KEY HOLDER

	
 

	
PN Biotechnology, LLC

	
 

	
 

	
By:
	
 
	
/s/ John William Pariseau

	
 
	
 
	
 

	
Printed Name:
	
 
	
John William Pariseau

	
 
	
 
	
 

	
Title:
	
 
	
Manager

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

KEY HOLDER

	
	
/s/ Joseph W. Harding

	
Joseph W. Harding

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
KEY HOLDER

	
 

	
Washington Research Foundation

	
 

	
 

	
By:
	
 
	
/s/ Jeff Eby

	
 
	
 
	
 

	
Printed Name:
	
 
	
Jeff Eby

	
 
	
 
	
 

	
Title:
	
 
	
CFO

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
Potomac Partners Ltd.

	
 

	
 

	
By:
	
 
	
/s/ Lee Hobson

	
 
	
 
	
Lee Hobson

	
 
	
 
	
 

	
Title:
	
 
	
General Partner, Potomac Partners LTD

	
 
	
 
	
 

	
By:
	
 
	
 

	
 
	
 
	
Marc Vice

	
 
	
 
	
 

	
Title:
	
 
	
 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Hayden S. Slater

	
Hayden S. Slater Living Trust dated July 26, 2016

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Michael Targoff

	
TGI Holdings, LLC

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
Kayne Family Partnership

	
 

	
 

	
By:
	
 
	
/s/ Mark Morski

	
 
	
 
	
 

	
Printed Name:
	
 
	
Mark Morski

	
 
	
 
	
 

	
Title:
	
 
	
Member of the General Partner

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
KA-Sabes Investments, LLC

	
 

	
 

	
By:
	
 
	
/s/ Michael O’Neil

	
 
	
 
	
 

	
Printed Name:
	
 
	
Michael O’Neil

	
 
	
 
	
 

	
Title:
	
 
	
Chief Compliance Officer

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

						
	
INVESTOR

	
 

	
KA-Sabes Investments II, LLC

	
 

	
 

	
By:
	
 
	
/s/ Michael O’Neil

	
 
	
 
	
 

	
Printed Name:
	
 
	
Michael O’Neil

	
 
	
 
	
 

	
Title:
	
 
	
Chief Compliance Officer

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Gary Lieberthal

	
Lieberthal Trust

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Patricia Neuwirth

	
Patricia Neuwirth Trust

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

INVESTOR

	
	
/s/ Peter Neuwirth

	
Peter H. Neuwirth Trust

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

				
	
INVESTOR

	
 

	
WS Investment Company, LLC (20A)

	
 

	
 

	
By:
	
 
	
/s/ S. M. Nordtvedt

	
 
	
 
	
Michael Nordtvedt

	
 
	
 
	
 

	
Title:
	
 
	
Member

 

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

				
	
INVESTOR
	
	
 
	
	
/s/ Mark Epstein
	
	
 
	
	
Printed Name:
	
 
	
Mark Epstein

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

				
	
INVESTOR
	
	
 
	
	
/s/ Curtis S. Lane
	
	
 
	
	
Printed Name:
	
 
	
Curtis S. Lane

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

				
	
INVESTOR
	
	
 
	
	
/s/ Andrew J. Weisenfeld
	
	
 
	
	
Printed Name:
	
 
	
Andrew J. Weisenfeld

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

 

		
	
KEY HOLDER
	
	
 
	
	
/s/ John W. Wright
	
	
John W. Wright
	
	
 
	
	
May 26, 2020

 

 

 

Signature Page to A&R Investors’ Rights Agreement

 

 

SCHEDULE A

Investors

 

Adam Cathey

AlphaCentric LifeSci Healthcare Fund

Altmayer Family Investments, LLC

Alvin J. Hilario

Alzheimer's Drug Discovery Foundation

Anthony Lo and Susan Scanlan

Avidity Capital Fund II LP

Avidity Master Fund LP

Brian Arbogast

Bryan White

Buena Vista Three Investment Corp.

BuildServ Washington LLC

Carol Criner

Challenger Cable Sales Inc.

Charles Collins

 

 

 

Citadel Multi-Strategy Equities Master Fund Ltd.

Cornova LLC

David Cadenhead

Ditch Plains Private Investments LP

Dolby Family Ventures, LP

Dorothy A. Fluke

Doug Hampson

D-W Investments LLC

Eddie Poplawski

Egger & Co. FBO Franklin Templeton Investment Funds — Franklin Biotechnology Discovery Fund

Epstein Family Trust dated 4/14/93

Equity Trust Company Custodian FBO Rachael Amber Caska IRA

Eugene KimEumorphic LLC

Evergreen Point Foundation

Fluke Capital Management, L.P.

FOUR PINES MASTER FUND LP

Hare & Co. FBO Franklin Strategic Series — Franklin Biotechnology Discovery Fund  c/o Franklin 

 

 

Hayden S. Slater Living Trust dated July 26, 2016

Howard Murad

Hunt Family Living Trust

IRA Resources, Inc. FBO J. Michael Flinn IRA 35-35267

IRA Services Trust Company CFBO Joseph B. Winkler, Sr. IRA #822620 Tax ID 26-2627205

Irrevocable Trust of OSL

Irrevocable Trust of SWL

Irrevocable Trust of WGL

James E. Warjone

Janus Henderson Biotech Innovation Master Fund Limited

Janus Henderson Horizon Fund – Biotechnology Fund

John C. Rosling and Jean D. Rosling  Revocable Trust 

John M. Fluke, Jr.

Jonathan E. Fielding Living Trust

Justin Edward Findley

KA-Sabes Investments II, LLC

KA-Sabes Investments, LLC

 

 

Kayne Family Partnership

Lansing J. Stewart

Leah J. Altmayer Trust

Leon Liebman

LGI, LLC

Lieberthal Trust

LifeSci Venture Master SPV, LLC

LifeSci Venture Partners II, LP

Linden Rhoads

Logos Opportunities Fund II, L.P.

Lynne S. Fluke

Magnus A. Altmayer Trust

Magnus S. Altmayer and Andrea Altmayer

Mark F. Worthington

Mark Litton and Alicia Litton

Mark Stegemoeller

Michael Hilton

 

 

Michael Nassirian

Mike Flynn

Montgomery Revocable Trust

MontyM3 LLC

Morris Holdings LLC

Morris Ventures, Inc.

Norm Bontje

Pamela Pearson

Patricia Neuwirth Trust

Paul Keenan

Perceptive Life Sciences Master Fund Ltd.

Peter H. Neuwirth Trust

Potomac Partners Ltd

Primer-Capital I LP

Richard and Suzanne Kayne Living Trust dtd 01/14/1999

Richard Karlgaard

Richard Sudek

 

 

Robert Anderson

Robert Sinnott 2017 GRAT

ROCK SPRINGS CAPITAL MASTER FUND LP

RTW Innovation Master Fund, Ltd. 

RTW Master Fund, LP

RTW Venture Fund Limited

Sherman Griffin

Skye Annabel Montgomery 2012 Trust

Sofinnova Venture Partners X, L.P.

Storybook Partners, LLC

Susskind Family Trust

Tai-Li Chang

TGI Holdings, LLC

The Cimler Family Trust dated June 22, 2007

The Heath and Carrie Lukatch Revocable Family Trust

The James W. Montgomery 2012 Family Trust

The Jamie Trust

 

 

The KWS Trust

The Margaret River Springs QST

The Mohn Family Trust

The Moise Emquies Trust dated 2/15/2019

The W Fund, LP

Tome Andrade

VENROCK HEALTHCARE CAPITAL PARTNERS III, L.P.

VHCP CO-INVESTMENT HOLDINGS III, LLC

VIKING GLOBAL OPPORTUNITIES ILLIQUID INVESTMENTS SUB-MASTER LP

Washington Research Foundation

Wilbur H. Gantz III Revocable Trust

William D. Savoy

 

 

 

SCHEDULE B

KEY HOLDERS

 

Hamdan Family GST Trust

John W. Wright

Joseph W. Harding

Leen Kawas

PN Biotechnology, LLC

Washington Research Foundationatha-ex45_145.htm

 

Exhibit 4.5

THE SECURITIES REPRESENTED HERBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATE.   THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM.   INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.   THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION.

WARRANT

To Purchase Common Stock of

M3 BIOTECHNOLOGY, INC.

Date of Issuance: 08 April 2013

The following is a statement of the rights of the holder of this Warrant and the conditions to which this Warrant is subject, and to which the holder hereof, by the acceptance of this Warrant, agrees:

For value received, M3 BIOTECHNOLOGY, INC., a Washington Corporation (the “Company”), hereby grants to the ALZHEIMER’S DRUG DISCOVER FOUNDATION, a public foundation organized in New York (“ADDF”), and its registered assigns (the “Holder”), the right to purchase from the Company at the Exercise Price of the lesser of $1 per share or the first price per share of the Company’s stock negotiated in an arms-length transaction with a bona-fide third party totaling at least $250,000 (the “Exercise Price”) a number of shares (the “Issuable Shares”) of common stock of the Company (the “Common Stock”) equal to the number of shares of Common Stock which, when multiplied by the Exercise Price, equals the first tranche of the principal amount of the Convertible Promissory Note signed in conjunction with this Warrant $87,497 multiplied by 0.30.  Such Exercise Price is referred to herein as the “Exercise Price”.  This Warrant may be exercised at any time prior to the eight (8)-year anniversary of its issuance (the “Expiration Date”).

This Warrant is issued under the terms of that certain Agreement to Accept Conditions for Biotechnology Funding, dated 08 April 2013.

 

 

1.Warrant Not Registered.

The Holder of this Warrant acknowledges that neither this Warrant nor the Issuable Shares have been registered under the Act, and agrees not to sell, pledge, distribute, offer for sale, transfer or otherwise dispose of this Warrant or any Issuable Shares in the absence of (i) an effective registration statement under the Act as to this Warrant or such Issuable Shares and registration or qualification of this Warrant or such Issuable Shares under any applicable U.S. federal or state securities law then in effect or (ii) an opinion of counsel, satisfactory to the Company, that such registration and qualification are not required.  Each certificate or other instrument evidencing the issuable Shares shall bear a legend substantially to the foregoing effect.

2.Exercise of Warrant.

2.1(a)The Warrant may be exercised at any time prior to the Expiration Date upon (i) surrender to the Company at the main office of the Company (or such other office or agency of the Company as it may be designate in writing to the Holder at the address of the Holder appearing on the books of the Company) of the warrant certificates, together with the Notice of Exercise annexed hereto properly completed and executed by the Holder and (ii) payment to the Company of the Exercise Price for each Share or other securities issuable upon exercise of such Warrant.  The Exercise Price may be paid (i) in cash or by certified or official bank check or by wire transfer to an account designated by the Company for such purpose (a “Cash Exercise”) or (ii) without the payment of cash, by reducing the number of Issuable Shares that would be obtainable upon the exercise of the Warrant and payment of the Exercise Price in cash so as to yield a number of Issuable Shares upon the exercise of such Warrant equal to the product of (x) the number of Issuable Shares for which such Warrant is exercisable as of the date of exercise (if the Exercise Price were being paid in cash) and (y) the Cashless Exercise Ratio (as defined below).  An exercise of the Warrant in accordance with clause (ii) of the immediately preceding sentence is herein called a “Cashless Exercise.”

(b)In the event of a Cashless Exercise of the Warrant, the Company will purchase from the Holder such portion of the Warrant as would have entitled the Holder to receive the excess of the number of Common Stock deliverable upon a Cash Exercise over the number of Common Stock deliverable upon Cashless Exercise, for a Exercise Price equal to the Exercise Price multiplied by the excess of the number of Common Stock purchasable upon a Cash Exercise.  The Company agrees to and shall offset the Exercise Price referred to in the immediately preceding sentence with the obligation to pay the Exercise Price in respect of the Common Stock deliverable upon a Cashless Exercise.  Upon surrender of the warrant certificate in connection with the Holder’s option to elect a Cashless Exercise, the number of Common Stock deliverable upon a Cashless Exercise shall be equal to the number of Common Stock issuable upon the exercise of Warrant that the Holder specifies are to be exercised pursuant to a Cashless Exercise multiplied by the Cashless Exercise Ratio.  All provisions of this Warrant shall be applicable with respect to the surrender of a warrant certificate pursuant to a Cashless Exercise for less than the full number of Warrants represented thereby.  Upon surrender of the warrant certificate and payment of the Exercise Price in accordance with this Warrant, the Company will issue Common Stock of the Company for the portion of the Warrant exercised, subject to adjustment as described herein.  Whenever there occurs a Cashless Exercise, the Company shall deliver to the Holder a certificate setting forth the Cashless Exercise Ratio.

-2-

 

(c)“Cashless Exercise Ratio” means a fraction, the numerator of which is the amount by which the Current Market Value (as defined below) per Share on the exercise date of the Warrant exceeds the Exercise Price per Share as of such exercise date and the denominator of which is the Current Market Value per Share on the exercise date.

(d)“Current Market Value” per Share means:

(i)if the Common Stock are not registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) the fair market value of the Common Stock (without any discount for lack of liquidity, the amount of such Common Stock offered to be purchased or the fact that the Common Stock may represent a minority interest in a private company or a company under the control of another person) as determined in good faith by the Board of Directors of the Company and certified in a board resolution that is delivered to the Holder, and, if requested by the Holder, determined to be fair, from a financial point of view, to the Holder, by an independent financial expert (as set forth in such independent financial expert’s written fairness opinion); or

(ii)if the Common Stock are registered under the Exchange Act, the average of the last reported sale price of the security (or the equivalent in an over-the-counter market) for each business day during the period commencing 15 business days before such date and ending on the date one day prior to such date, or if the Common Stock have been registered under the Exchange Act for less than 15 consecutive business days before such date, the average of the daily closing bid prices (or such equivalent) for all of the business days before such date for which daily closing bid prices are available (provided, however, that if the closing bid price is not determinable for at least 10 business days in such period, the “Current Market Value” of the security shall be determined as if the security were not registered under the Exchange Act).  The Company shall pay the fees and expenses of any independent financial expert in the determination of Current Market Value.

2.2Certificates or other documentation evidencing the Issuable Shares purchased hereunder shall be delivered to the Holder within a reasonable period of time after the later of (i) the date on which this Warrant is exercised, or (ii) the date on which the Exercise Price is full paid, but in no event shall they be delivered later than 15 days following such date.

2.3The Company covenants and agrees that all Issuable Shares which may be issued upon the exercise of this Warrant will be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens, encumbrances, and charges in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue).

2.4The Company further covenants and agrees that, during the period within which the rights evidenced by this Warrant may be exercised, the Company will at all times during such period have authorized and reserved, for the purpose of issue or transfer upon exercise of the rights evidenced by this Warrant, a sufficient number of authorized by unissued Common Stock, or other securities and property, when and as required to provide for the exercise of the rights evidenced by this Warrant.  The Company will take all such action as may be necessary to assure that such Common Stock may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of any securities exchange upon which the securities of the Company may be listed; provided, however, that the Company shall not be required to effect a registration under federal or state securities laws with respect to such exercise.

-3-

 

3.Adjustment of Exercise Price.

3.1The Exercise Price and the number of Issuable Shares are subject to adjustment in accordance with this Section 3 from time to time upon the occurrence of certain events described in this Section 3.

3.2In the event the Company shall, at any time or from time to time after the date hereof, issue any Common Stock as a stock dividend to the holders of Common Stock, or subdivide or combine the outstanding Common Stock into a greater or lesser number of shares, or effectuate a similar sale, issuance, subdivision or combination in which no consideration is payable by the holders of Common Stock (any such sale, issuance, subdivision or combination being herein called a “Share Change”), then, and thereafter upon each further Share Change, the Exercise Price shall be adjusted in inverse proportion to the fraction determined by dividing the number of shares of Stock outstanding after such event (on a fully diluted basis) by the number of shares of Common Stock outstanding be fore such event (on a fully diluted basis) (the “Adjustment Ratio”) and the number of Issuable Shares shall be adjusted in direct proportion to the Adjustment Ratio.

3.3If the  Company shall at any time issue or sell any Common Stock or equity securities convertible into or exchangeable for Common Stock (“Share Equivalents”) where the then effective price per Share of stock (consisting of the amount per Share paid upon issuance of the securities plus, if applicable, any amount per Share payable upon conversion or exchange) (the “Effective Share Price”) is less than the then-effective Exercise Price, or if the terms of any then existing securities provide for, or are amended to effect, a reduction in the Effective Share Price to a price less than the then effective Exercise Price, then the then effective Exercise Price shall concurrently with such issuance, sale or amendment be reduced to the Effective Share Price.

3.4For purposes of this Section 3, the number of Common Stock and Share Equivalents outstanding at any given time shall include Common Stock and Share Equivalents owned or held by or for the account of the Company.

3.5(a)If the Company shall be party to a Sale or Merger or an IPO (as defined below), or engage in any similar transaction, the, in each case, in lieu of the Common Stock issuable upon the exercise of the Warrant immediately prior to such transaction, upon the consummation of such transaction at the option of the Holder, either (A) the Warrant shall terminate, or (B) the Holder shall receive the stock and/or other securities and/or property (including cash) to which the Holder would have been entitled (less the then effective Exercise Price) upon such Sale or Merger or similar transaction had the Holder exercised the Warrant fully immediately prior thereto, all subject to the adjustments provided herein or substantially similar adjustments.

(b)A “Sale or Merger” shall mean any of the following: (i) the merger or consolidation of the Company into or with another entity in which the holders of the voting equity of the Company immediately preceding such merger or consolidation shall own less than fifty percent (50%) of the voting securities of the surviving entity; (ii) the sale, transfer or lease, whether in a single transaction or pursuant to a series of related transactions or plan, of all or substantially all the assets of the Company which assets shall include for these purposes fifty percent (50%) or more of the 

-4-

 

outstanding voting equity securities of any subsidiaries of the Company, the assets of which constitute all or substantially all the assets of the Company and its subsidiaries taken as a whole; (iii) the sale, transfer, or lease, whether in a single transaction or pursuant to a series of related transactions, of all or substantially all the assets of the subsidiaries of the Company, the assets of which constitute all or substantially all of the assets of the Company and such subsidiaries taken as a whole, (iv) a sale or transfer, whether in a single transaction or series of related transactions, of fifty percent (50%) or more of the Company’s outstanding voting securities other than in a financing transaction or (v) a public offering of the securities of the Company.

3.6In the event the Company at any time or from time to time makes, or fixes a record date for the determination of holders of Common Stock entitled to receive, any distribution payable in securities or assets of the Company other than Common Stock and other than as otherwise adjusted for in this Section 3, then and in each such event provision shall be made so that the Holder shall receive upon exercise of the Warrant, in addition to the number of Common Stock receivable thereupon, the amount of securities or assets of the Company which the Holder would have received had the Warrant been converted into Common Stock on the date of such event and had it thereafter, during the period from the date of such event to and including the date of conversion, retained such securities receivable by it as aforesaid during such period, subject to all other adjustments called for during such period under this Section 3.

3.7The Company shall notify the Holder in writing at least twenty (20) days’ prior to the occurrence of any event requiring any adjustment as provided herein, which notice shall set forth in reasonable detail such event, the amount of the adjustment and method of calculation thereof.  At any time and from time to time if any reorganization, reclassification, recapitalization, stock dividend, stock split, stock combination, transfer or lease of substantially all assets, issuance or sale of securities or other event shall occur as to which the provisions of this Section 3 are not strictly applicable, but the failure to make any adjustment would not fairly protect the rights of the Holder in accordance with the essential intent and principles hereof, then, in each such case, the number of Issuable Shares and the Exercise Price shall be appropriately adjusted to preserve, without dilution, the purchase rights represented by this Warrant and to place the Holder in an equivalent economic position as it would have been in had such events not occurred.  If at any time, the Company issues, or otherwise provides for or grants, rights to acquire Common Stock or securities convertible into or exchangeable for Common Stock that provide for greater or more favorable antidilution protection than the antidilution protection provided for herein (including, but not limited to, rights with respect to the events that trigger the adjustment or the formula pursuant to which any such adjustment is made), the Company shall notify the Holder of such issuance, provision or grant within ten business days of such event and this Warrant shall be deemed automatically amended as of the date of the issuance, provision or grant of such rights or convertible securities or protections, as the case may be, so that the Holder shall receive the benefit of such greater antidilution protection.  The Company will not, by amendment of its Certificate of Incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed hereunder by the Company but will at all times in good faith assist in the carrying out of all the provisions in this Section 3 and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the holders of the Warrant against impairment.]

-5-

 

4.No Fractional Common Stock.

The Company shall not be required to issue any fractional shares in connection with any exercise of this Warrant.  The Company may pay to the Holder, in lieu of issuing any fractional share, a sum in cash equal to such fraction multiplied by the then effective Exercise Price.

5.Charges, Taxes and Expenses.

Issuance of certificates or other documentation evidencing the Issuable Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however, that in the event certificates or other documentation evidencing the Common Stock are to be issued in a name other than the name of the Holder, this Warrant, when surrendered for exercise, shall be accompanied by the Assignment Form attached hereto duly executed by the Holder; and provided, further, that upon any transfer involved in the issuance or delivery of any certificates or other documentation evidencing the Issuable Shares the Company may require reimbursement for any tax imposed in connection with such transfer.

6.No Rights as Shareholder.

This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder of the Company prior to the exercise hereof.

7.Exchange and Registry of Warrant.

This Warrant is exchangeable, under the surrender hereof by the Holder at the above-mentioned office or agency of the Company, for a new Warrant of like tenor and dates as of such exchange.  The Company shall maintain at such office or agency a registry showing the name and address of the Holder.  This Warrant may be surrendered for exchange, transfer or exercise, in accordance with its terms, at such office of agency of the Company, and the Company shall be entitled to rely in all respects, prior to written notice to the contrary, upon such registry.

8.Loss, Theft, Destruction or Mutilation of Warrant.

Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it, and upon reimbursement to the Company of all reasonable expenses incidental thereto, and upon surrender and cancellation of such Warrant, if mutilated, the Company will make and deliver a new Warrant of like tenor and dated as of such cancellation, in lieu of this Warrant.  The foregoing notwithstanding, with respect to the initial Holder of this Warrant, the Company in lieu of its rights set forth in the preceding sentence, shall only require an affidavit of loss and indemnity agreement from such Holder and such Holder shall not be obligated to provide any security therefore or to pay any fees or expenses in connection therewith.

-6-

 

9.Saturday, Sundays, Holidays, etc.

If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall be a Saturday, Sunday, legal holiday or other day on which banks are required to be closed in New York, New York, then such action may be taken or such right may be exercised on the next succeeding day that is not a Saturday, Sunday, legal holiday or other day on which banks are required to be closed in New York, New York.

10.Miscellaneous.

10.1Law Governing.  This Warrant shall be binding upon any successors or assigns of the Company.  This Warrant shall constitute a contract under the laws of the State of New York and for all purposes shall be construed in accordance with and governed by the laws of said state without regard to conflict of law principals.

10.2Acquisition for Investment.  Unless a current registration statement under the Securities Act of 1933, as amended, is in effect with respect to the securities purchasable upon exercise of this Warrant, the Holder hereof, by accepting this Warrant, covenants and agrees that, at the time of exercise hereof, and at the time of any proposed transfer of securities acquired upon exercise hereof, such Holder will deliver to the Company a written statement that the securities acquired by the Holder upon exercise hereof are for the account of the Holder for investment and are not acquired with a view to, or for sale in connection with, any distribution thereof (or any portion thereof) and with no present intention (at any such time) of offering and distributing such securities or any portion thereof.  The certificates evidencing the securities purchasable upon exercise of this Warrant, if such securities are not subject to a current registration statement shall bear a legend to the effect that such securities have not been so registered and may not be transferred except pursuant to an effective registration statement under the Securities Act of 1933, as amended or an opinion of counsel satisfactory to the Company, in its good faith discretion, that such registration is not required.  The Holder will comply with all applicable provisions of state and federal securities laws and acknowledges that the securities acquired upon the exercise of this Warrant may have restrictions upon its resale imposed by state and federal securities laws.

10.3Notices.  All notices, reports and other communications required or permitted hereunder shall be in writing and may be delivered in person, by telecopy with written confirmation, overnight delivery service or U.S. mail, in which event it may be mailed by first-class, certified or registered, postage prepaid, addressed to the Holder at its address as shown on the books of the Company or to the Company, at the address listed below:

(a)If to the Company:

M3 Biotechnology, Inc.

1615 NE Eastgate Boulevard, Suite G-8E

Pullman, WA 99163

Attention: Lewis Rumpler, CEO

-7-

 

(b)If to the Holder:

Alzheimer’s Drug Discovery Foundation

57 West 57th Street, Suite 904

New York, NY 10019

Attention: Howard Fillit, MD, Executive Director

Telephone: (212) 935-2402

Facsimile: (212) 935-2408

with a copy to:

Allan M. Green, MD, PhD, JD, LLC

One Mifflin Place

Suite 400

Cambridge, MA 02138

Telephone: (617) 447-5999

Facsimile: (617) 576-9132

10.4Severability.  It is the desire and intent of the parties that the provisions of this Warrant be enforced to the fullest extent permissible under the law and public policies applied in each jurisdiction in which enforcement is sought.  Accordingly, in the event that any provision of this Warrant would be held in any jurisdiction to be invalid, prohibited or unenforceable for any reason, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this Warrant or affecting the validity or enforceability of such provision in any jurisdiction.  Notwithstanding the foregoing, if such provision could be more narrowly drawn so as not be invalid, prohibited or unenforceable in such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn, without invalidating the remaining provisions of this Warrant or affecting the validity or enforceability of such provision in any other jurisdiction.

-8-

 

IN WITNESS WHEREOF, the undersigned has executed this Warrant as of the Date of Issuance stated above.

 

	
By
	
/s/ Authorized Signatory

	
 
	
 

 

 

 

 

 

ASSIGNMENT FORM

(To assign the foregoing Warrant, execute this form and supply the required information.  Do not use this form to purchase shares.)

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto:

 

 

	
whose address is
	
 

 

(Please Print)

and whose Social Security or other Taxpayer Identification Number is:_______________________

the foregoing Warrant and all rights thereunder, hereby constituting and appointing

 

	
 
	
to transfer said Warrant on the books of

 

	
 
	
with full power of substitution in the premises.

 

Dated: ________, 20___.

 

	
Holder’s Signature:
	
 

	
Holder’s Name:
	
 

	
Holder’s Address:
	
 

	
 

	
 

 

(Please Print)

 

	
Signature Guaranteed:
	
 

 

NOTE: The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatever, and must be guaranteed by a bank or trust company or by a member of the National Association of Securities Dealers, Inc.  Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

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